WEBVTT - Cliff Notes: The Future of Facebook & Investing for a Child

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<v Speaker 2>Today. The Talk of the Town Facebook Instagram was out

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<v Speaker 2>for eight hours. It caused massive anxiety amongst a lot

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<v Speaker 2>of people, depression, confusion, all of the above not only Instagram,

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<v Speaker 2>Facebook and whatsappened, all of the whole Facebook's trilogy was

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<v Speaker 2>down for the day and its stock was down. Crazy

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<v Speaker 2>stock was down seven percent, I believe, along with the

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<v Speaker 2>rest of the market, which we'll talk about that. So

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<v Speaker 2>all right, let's get into this conversation about Facebook.

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<v Speaker 3>Do you guys question me on if not you but

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<v Speaker 3>if TikTok is going to overtake them in two years

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<v Speaker 3>they have a billion users. This is a clean example

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<v Speaker 3>of why they are not the dominant force they used

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<v Speaker 3>to be. So the whistleblower came out and stated they

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<v Speaker 3>had been covering up the hate speech and as a result,

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<v Speaker 3>you know, the DNS workers went missing for a while.

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<v Speaker 3>Facebook's in trouble. It's a lot of things that I

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<v Speaker 3>want to say about the topic, but I want to.

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<v Speaker 4>Keep us on the air.

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<v Speaker 3>But this is the start of a slow decline of Facebook,

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<v Speaker 3>and the Passinger the guard has begun already.

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<v Speaker 5>Yeah, I mean, I believe I want to say her

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<v Speaker 5>name right, francis huge, and I believe it is the

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<v Speaker 5>name of the whistleblower, So you're not familiar with it.

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<v Speaker 5>So yeah, So she did say that about the hate speech,

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<v Speaker 5>especially during the election, but sex trafficking was one of

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<v Speaker 5>the things she claimed that they knew about and hadn't

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<v Speaker 5>taken action on. So it's interesting with that. Tomorrow she's

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<v Speaker 5>testifying in front of Congress about this information, and today

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<v Speaker 5>Facebook was down, Instagram was down. Now, Ian, I know,

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<v Speaker 5>we only want to call them conspiracy theories, but some

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<v Speaker 5>things just don't happen by accident.

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<v Speaker 3>Some things we got to stay away from as well.

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<v Speaker 3>I mean, I mean, even the privacy changes in an

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<v Speaker 3>ad business from Apple was hurting them dramatically. And that's

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<v Speaker 3>why I kept telling you guys, you guys like, well,

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<v Speaker 3>it never get passed up and the youth is there

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<v Speaker 3>because of Instagram. They let the box remain on Instagram

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<v Speaker 3>because the engagement is not.

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<v Speaker 4>As high as it used to be.

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<v Speaker 3>Yeah, so our business owners, you ill.

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<v Speaker 4>No, I was gonna say, so the ad thing, I'll.

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<v Speaker 5>Just explain that really quickly because role some notes on

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<v Speaker 5>that so people could really understand what's happening with the

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<v Speaker 5>Apple privacy. So Facebook's been warning advertisers for some time

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<v Speaker 5>that apples new privacy features, which allow mobile users to

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<v Speaker 5>app out of being tracked across the iOS apps, would

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<v Speaker 5>cause issues for the way it's ad targeting business typically operates.

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<v Speaker 5>So if you were somebody that spends the Facebook ads

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<v Speaker 5>right and obviously use the iPhone, the iOS. There had

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<v Speaker 5>been some misleading numbers, right, I think they set up

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<v Speaker 5>to fifteen percent.

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<v Speaker 4>The numbers were actually fifteen percent off.

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<v Speaker 5>So if you're spending at a high rate, like a

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<v Speaker 5>lot of small businesses do, to get there their message

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<v Speaker 5>and their company out there to the billions of users

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<v Speaker 5>that are on Facebook, and you're overpaying, and they're saying like, look,

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<v Speaker 5>our numbers are off by fifteen percent now estimated fifteen

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<v Speaker 5>percent could be more. We'll find out a little bit

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<v Speaker 5>more tomorrow. That's a huge issue. That's a huge issueber

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<v Speaker 5>And so I mean they're in a tough spot. They're

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<v Speaker 5>in a tough spot, and I guess the logical question

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<v Speaker 5>for people will be like, all right, well do we

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<v Speaker 5>believe in Facebook?

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<v Speaker 4>Probably? Yeah? Right to fank Stock, where's a good point

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<v Speaker 4>to get in or is it a good time now?

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<v Speaker 4>We're gonna wait t tow it to four.

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<v Speaker 3>No good name me for better companies than Facebook right now.

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<v Speaker 3>There's a reason why Wall Street historically and a heads

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<v Speaker 3>from spaces not like Zuckerberg as the CEO, I will

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<v Speaker 3>not get into it. I G I still need to

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<v Speaker 3>be verified. Brian helped me out, but as a stock

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<v Speaker 3>no don't. I wouldn't touch it.

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<v Speaker 6>So you win. You win to advise people.

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<v Speaker 4>Facebook, I wouldn't touch it.

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<v Speaker 6>Mhm.

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<v Speaker 4>Okay.

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<v Speaker 6>And this is solely because you feel that.

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<v Speaker 2>It has it's reached its peak and it is like

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<v Speaker 2>downhill from here.

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<v Speaker 3>There's limited upsides to Facebook at this moment, even if

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<v Speaker 3>you look outside of acquisitions. What innovation is Facebook had

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<v Speaker 3>in the last five years?

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<v Speaker 4>Okay?

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<v Speaker 5>I mean, are we still taking into account that the

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<v Speaker 5>amount of small businesses and businesses that have used the

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<v Speaker 5>platform and the fact that it's I mean, it's still

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<v Speaker 5>the largest social media platform with all the ancillaries.

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<v Speaker 4>What's happened obviously Instagram and you see.

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<v Speaker 3>I brighte that ball shining behind me. It's a lot

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<v Speaker 3>that I can't say. And for all the stuff that

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<v Speaker 3>I said, for me to say, I can't say something,

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<v Speaker 3>it's much deeper than this. And then also two other

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<v Speaker 3>networks got affected. This isn't just a Facebook thing. It's

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<v Speaker 3>going to be tied to a few other companies. This

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<v Speaker 3>will be a change in of the guard. Can you

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<v Speaker 3>swing trade it and make some coins off of it?

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<v Speaker 4>Sure?

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<v Speaker 6>Long term?

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<v Speaker 3>And I've been a fan of Facebook since two thousand

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<v Speaker 3>and five, when steveg put me on it. I tried

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<v Speaker 3>to get my family to invest in it as an angel.

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<v Speaker 3>Couldn't convince them that one hundred grand would have turned

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<v Speaker 3>into forty eight million by now probably no, yes.

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<v Speaker 2>Stay away, all right, So okay, stay away from Facebook.

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<v Speaker 2>Then any last words about Facebook?

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<v Speaker 3>For my business owners began to start to use TikTok,

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<v Speaker 3>LinkedIn and other platforms. And also, if you do not

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<v Speaker 3>have the data of your customer and client lists personally,

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<v Speaker 3>you're going to be in trouble. There's a lot of

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<v Speaker 3>people today who were depressed because they thought they were

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<v Speaker 3>going to go out of business because they don't have

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<v Speaker 3>access to their client data.

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<v Speaker 4>Only you are possible for your own business. Yeah. Please.

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<v Speaker 5>Wall Street Journal had an article about that, especially people

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<v Speaker 5>in the fitness industry where they rely solely to reach

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<v Speaker 5>their customers through Facebook or Facebook Messenger, and how in

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<v Speaker 5>the day they lost business because there was no way

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<v Speaker 5>to contact them. Your It's interesting that they Facebook actually

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<v Speaker 5>pushed the message out that they were down on Twitter, yeah, the.

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<v Speaker 6>Outlet they couldn't put it on Facebook, Instagram.

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<v Speaker 4>Yeah, I thought that was that was pretty ironic.

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<v Speaker 5>Okay, Well, you were known for being the social media

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<v Speaker 5>giant that had to go to another one because we're

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<v Speaker 5>having quote unquote technical issues.

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<v Speaker 2>Can I can I okay? Well, Facebook, hold your head,

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<v Speaker 2>let me let me. I want to just do something

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<v Speaker 2>if we can real quick, because I've been traveling a lot.

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<v Speaker 5>And this episode is brought to you by P and

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<v Speaker 8>An illegal alien from Guatemala charged with raping a child

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<v Speaker 8>in Massachusetts. An MS thirteen gang member from El Salvador

0:09:46.880 --> 0:09:51.000
<v Speaker 8>accused of murdering a Texas. Man of Venezuelan charged with

0:09:51.080 --> 0:09:54.960
<v Speaker 8>filming and selling child pornography in Michigan. These are just

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<v Speaker 8>some of the heinous migrant criminals caught because of President

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<v Speaker 8>Donald J. Trump's leader. I'm Christy Noman, the United States

0:10:02.440 --> 0:10:07.240
<v Speaker 8>Secretary of Homeland Security. Under President Trump, attempted illegal border

0:10:07.280 --> 0:10:10.840
<v Speaker 8>crossings are at the lowest levels ever recorded, and over

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<v Speaker 8>one hundred thousand illegal aliens have been arrested. If you

0:10:14.200 --> 0:10:18.040
<v Speaker 8>are here illegally, your next you will be fine nearly

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<v Speaker 8>one thousand dollars a day, imprisoned and deported, you will

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<v Speaker 8>never return. But if you register using our CBP home

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<v Speaker 8>app and leave now, you could be allowed to return legally.

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<v Speaker 8>Do what's right. Leave now. Under President Trump, America's laws,

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<v Speaker 8>border and families will be protected.

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<v Speaker 4>Sponsored by the United States Department of Homeland Security.

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<v Speaker 2>Given me and people, and thank you for all your

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<v Speaker 2>encouraging words. We really really appreciate it. What I realized

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<v Speaker 2>is that is Sha'll tell you on YouTube four thousand

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<v Speaker 2>people please hit the like button. I realized there's a

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<v Speaker 2>lot of people that tune into us and are just

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<v Speaker 2>getting started and are just new to investing. So even

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<v Speaker 2>though we mentioned something before, it might be good to

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<v Speaker 2>every once in a while just kind of refresh it.

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<v Speaker 2>So if we could take a couple of minutes, I

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<v Speaker 2>wanted to talk about something that is we've talked about before,

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<v Speaker 2>but it's always a relevant conversation and something that's always

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<v Speaker 2>extremely important investing for your children, and kind of just

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<v Speaker 2>you know, just break this down a little bit. So

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<v Speaker 2>I want to I want to, like I said, I

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<v Speaker 2>don't want to rush over things, and I want to

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<v Speaker 2>make sure that everybody has a good understanding so that

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<v Speaker 2>they can go out and execute and really put these

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<v Speaker 2>plays into action, because that's what we're here for. So

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<v Speaker 2>when we talk about investing for your children, you know,

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<v Speaker 2>we talk about two things. Really, the five to twenty

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<v Speaker 2>nine plan. We've spoke about that before and the five

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<v Speaker 2>to twenty nine plan, our state sponsored investing plans. We

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<v Speaker 2>used to be college savings, but President Trump a few

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<v Speaker 2>years ago he changed that with the tax law that

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<v Speaker 2>he passed, and now you can actually use the money

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<v Speaker 2>for any form of education. So the benefit of the

0:11:53.920 --> 0:11:56.880
<v Speaker 2>five to twenty nine plan is that the money grows

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<v Speaker 2>and it's tax.

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<v Speaker 6>Free as long as you use it for education.

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<v Speaker 2>So, you know, you have different states, every state, New York,

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<v Speaker 2>New Jersey, Connecticut, California, and they all have five to

0:12:05.880 --> 0:12:08.200
<v Speaker 2>twenty nine plans. Depending on which state you live in,

0:12:08.760 --> 0:12:10.760
<v Speaker 2>you can get a state tax deduction. You can't get

0:12:10.760 --> 0:12:12.960
<v Speaker 2>a federal tax deduction, but it's depending on what state

0:12:13.000 --> 0:12:14.880
<v Speaker 2>you live in. You can get a state tax deduction

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<v Speaker 2>if you invest in that state's five to twenty nine plans.

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<v Speaker 2>So that might be something to look into if you

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<v Speaker 2>are interested in investing money and having money for private school,

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<v Speaker 2>for you know, college, for prep school, any any of

0:12:30.559 --> 0:12:33.040
<v Speaker 2>the above. So that's the question that people get a lot.

0:12:33.040 --> 0:12:35.319
<v Speaker 2>And then there's another alternative to that, which is the UTMA,

0:12:35.920 --> 0:12:38.400
<v Speaker 2>which is the Uniform transfers a miners account and you

0:12:38.400 --> 0:12:42.960
<v Speaker 2>can really open that on any brokerage. And what that

0:12:43.000 --> 0:12:45.679
<v Speaker 2>allows you to do is set up an investment account,

0:12:45.840 --> 0:12:47.800
<v Speaker 2>just like you would set up an investment account for yourself,

0:12:47.800 --> 0:12:50.600
<v Speaker 2>but an investment account for your child. You don't have

0:12:50.679 --> 0:12:54.520
<v Speaker 2>the same tax benefits, but you can use the money

0:12:54.520 --> 0:12:57.840
<v Speaker 2>for whatever you want, not just education. So now you

0:12:57.880 --> 0:12:59.280
<v Speaker 2>know you can use the money down the line. You

0:12:59.320 --> 0:13:01.319
<v Speaker 2>can give them the start of business, or they you know,

0:13:01.480 --> 0:13:03.679
<v Speaker 2>want to just buy a car, whatever they want to do.

0:13:03.880 --> 0:13:06.319
<v Speaker 2>It's an investment account that they have access to when

0:13:06.320 --> 0:13:08.640
<v Speaker 2>they're an adult. But now you can invest in ETFs,

0:13:09.120 --> 0:13:11.000
<v Speaker 2>you can invest in index funds, you can invest in

0:13:11.000 --> 0:13:14.040
<v Speaker 2>individual stocks. So that's another you know, way to say

0:13:14.080 --> 0:13:17.840
<v Speaker 2>for a child just has a lot more flexibility so you.

0:13:17.400 --> 0:13:19.120
<v Speaker 6>But you don't have the same tax benefits.

0:13:19.160 --> 0:13:22.160
<v Speaker 2>So that's something that, like I said, I just wanted

0:13:22.160 --> 0:13:25.760
<v Speaker 2>to kind of throw that in there, because every week

0:13:25.800 --> 0:13:27.760
<v Speaker 2>I think we should just talk like just one I

0:13:27.800 --> 0:13:30.000
<v Speaker 2>don't even want to call it basic because everybody's in

0:13:30.040 --> 0:13:33.079
<v Speaker 2>different levels. So it's just one thing that we might

0:13:33.120 --> 0:13:36.360
<v Speaker 2>have to just go back to, you know, the beginning stages,

0:13:36.800 --> 0:13:39.720
<v Speaker 2>because at least, you know, there are some people that's

0:13:39.760 --> 0:13:42.600
<v Speaker 2>watching this that's watching this for the first time and

0:13:42.960 --> 0:13:45.439
<v Speaker 2>have not invested. So we just always want to make

0:13:45.480 --> 0:13:49.199
<v Speaker 2>sure that we mix in high level conversations with some

0:13:49.280 --> 0:13:51.280
<v Speaker 2>conversations that might be a little bit more you know,

0:13:51.440 --> 0:13:54.800
<v Speaker 2>beginning level, so people have you know, a clear understanding

0:13:54.840 --> 0:13:55.600
<v Speaker 2>so they can take action.

0:13:56.080 --> 0:13:57.360
<v Speaker 6>You gentlemen, want to add anything.

0:13:57.200 --> 0:13:59.640
<v Speaker 4>To that, I'll just add to the up conversation.

0:13:59.760 --> 0:14:04.120
<v Speaker 5>So when you talked about stocks, we talked about iras,

0:14:04.160 --> 0:14:04.600
<v Speaker 5>but you can.

0:14:04.559 --> 0:14:09.120
<v Speaker 4>Also up invest in real estate and in art cars.

0:14:09.400 --> 0:14:13.360
<v Speaker 5>It's not really limited, whereas the UGMA it's traditionally just

0:14:13.440 --> 0:14:17.440
<v Speaker 5>for stocks, bonds, and iras. So there's a slight difference

0:14:17.440 --> 0:14:20.800
<v Speaker 5>between the two, but both of the studio accounts a

0:14:20.880 --> 0:14:23.360
<v Speaker 5>great way, a great tool to invest for your children.

0:14:23.600 --> 0:14:26.120
<v Speaker 5>We talk about ours all the time and how we're

0:14:26.120 --> 0:14:28.280
<v Speaker 5>investing for our children so that when they reach a

0:14:28.280 --> 0:14:31.640
<v Speaker 5>certain age, they'll have an income that we never saw

0:14:31.720 --> 0:14:34.760
<v Speaker 5>because it's not that our parents weren't prepared, but they

0:14:34.760 --> 0:14:39.360
<v Speaker 5>weren't possibly not properly educated or even knew about what

0:14:39.400 --> 0:14:41.640
<v Speaker 5>these things were. So the more we learn, the more

0:14:41.640 --> 0:14:43.880
<v Speaker 5>we're able to teach. So we're just passing that forward.

0:14:44.040 --> 0:14:46.040
<v Speaker 2>Ian you want to add anything to that, Yeah, the

0:14:46.040 --> 0:14:47.760
<v Speaker 2>more that you invest for your child, the better.

0:14:48.160 --> 0:14:50.160
<v Speaker 3>That's the most important decision that a parent has to

0:14:50.160 --> 0:14:52.400
<v Speaker 3>make right now, right now. How much you're going to

0:14:52.480 --> 0:14:54.920
<v Speaker 3>invest for your child every single month, and do not

0:14:55.040 --> 0:14:58.640
<v Speaker 3>deviate from that plan. Even if you put away ten

0:14:58.680 --> 0:15:00.800
<v Speaker 3>thousand dollars for your child, by the time time at twenty,

0:15:01.160 --> 0:15:03.200
<v Speaker 3>they should have a million easily, if you listen to

0:15:03.240 --> 0:15:05.400
<v Speaker 3>some of the advice that I give, and the market

0:15:05.440 --> 0:15:08.920
<v Speaker 3>continues to run at this pace, be more than that.

0:15:09.400 --> 0:15:12.440
<v Speaker 3>So put money away from your child every way, every month.

0:15:12.680 --> 0:15:14.120
<v Speaker 3>Then it should be the first bill that you pay

0:15:14.400 --> 0:15:15.080
<v Speaker 3>every single month.

0:15:15.120 --> 0:15:16.760
<v Speaker 4>For sure. I got a question for both of you.

0:15:17.160 --> 0:15:19.280
<v Speaker 5>Right, So when we talk about ourselves as individuals, we

0:15:19.320 --> 0:15:20.920
<v Speaker 5>always say, all right, we should have this amount of

0:15:20.920 --> 0:15:24.720
<v Speaker 5>money saved for six to twelve months and have a portfolio.

0:15:25.000 --> 0:15:27.240
<v Speaker 5>Make sure it's diversifyed. What do you think about for

0:15:27.560 --> 0:15:29.800
<v Speaker 5>our children? Are we going to have that same approach?

0:15:29.840 --> 0:15:32.240
<v Speaker 5>But we have custodio accounts, we have a savior's account.

0:15:32.400 --> 0:15:33.560
<v Speaker 5>What do you think for your child?

0:15:33.680 --> 0:15:35.400
<v Speaker 2>Yeah, I mean I think that you want to stay

0:15:35.440 --> 0:15:37.000
<v Speaker 2>we have to have a savings account for your child,

0:15:37.040 --> 0:15:39.760
<v Speaker 2>but you can have I would have a five to

0:15:39.760 --> 0:15:41.280
<v Speaker 2>twenty nine plan if you want to go that approach,

0:15:41.320 --> 0:15:43.360
<v Speaker 2>Like if you want to have just money just for college,

0:15:43.360 --> 0:15:44.760
<v Speaker 2>because that's real big A lot of people want to

0:15:44.760 --> 0:15:46.880
<v Speaker 2>just save money just for college. You have the five

0:15:46.920 --> 0:15:48.560
<v Speaker 2>to twenty nine plan. But then if you want to

0:15:48.600 --> 0:15:50.640
<v Speaker 2>just have money just for them, then you will go

0:15:50.720 --> 0:15:52.720
<v Speaker 2>with them. So you can do you can actually do both.

0:15:52.880 --> 0:15:55.000
<v Speaker 2>And another question is like how much should you put away?

0:15:55.040 --> 0:15:56.760
<v Speaker 2>There's really no set number. It depends on how much

0:15:56.800 --> 0:15:58.360
<v Speaker 2>money you have, but I go with the eighty twenty

0:16:00.120 --> 0:16:02.520
<v Speaker 2>eighty percent of your investment budget should be for yourself

0:16:03.000 --> 0:16:04.680
<v Speaker 2>and then twenty percent should be for your child it's

0:16:04.760 --> 0:16:06.320
<v Speaker 2>my opinion. I feel like you have to secure your

0:16:06.320 --> 0:16:09.600
<v Speaker 2>own future before you can secure anybody else's future, including

0:16:09.600 --> 0:16:12.440
<v Speaker 2>your child. So you know, make sure that you're investing

0:16:12.480 --> 0:16:14.800
<v Speaker 2>in your own retirement first, make sure you're investing in

0:16:14.840 --> 0:16:17.040
<v Speaker 2>your own broken's account first. Make sure you're investing in

0:16:17.040 --> 0:16:20.640
<v Speaker 2>yourself first, because ultimately, if you don't have enough money

0:16:20.640 --> 0:16:22.560
<v Speaker 2>in your own account and you have money in your

0:16:22.600 --> 0:16:24.920
<v Speaker 2>child's account and you need money, you're going to take

0:16:24.960 --> 0:16:25.680
<v Speaker 2>money from the account.

0:16:25.720 --> 0:16:26.040
<v Speaker 4>Anyway.

0:16:26.360 --> 0:16:31.000
<v Speaker 2>It's happened before, so yeah, I've seen it happen before.

0:16:31.720 --> 0:16:36.360
<v Speaker 2>It is it is lightning in La. So that's my

0:16:36.480 --> 0:16:38.760
<v Speaker 2>that's my thoughts. Like I said, that's just something that

0:16:39.560 --> 0:16:42.200
<v Speaker 2>secure your own secure your own future first.

0:16:42.440 --> 0:16:44.240
<v Speaker 3>And if you invest a long term for your child,

0:16:44.600 --> 0:16:47.120
<v Speaker 3>you won't need the savings, I think, because the gains

0:16:47.120 --> 0:16:49.000
<v Speaker 3>and the compounder will be there and you're going to

0:16:49.000 --> 0:16:50.800
<v Speaker 3>get a hell of a better return doing it that

0:16:50.840 --> 0:16:52.920
<v Speaker 3>way for sure. That that's what I've done for Xander

0:16:52.960 --> 0:16:56.600
<v Speaker 3>and it's worked out amazing. So I would say invest

0:16:56.640 --> 0:16:59.760
<v Speaker 3>every dollar that you can for your child, and even

0:16:59.800 --> 0:17:03.480
<v Speaker 3>with parents and friends, instead of getting your kids' toys,

0:17:03.600 --> 0:17:05.840
<v Speaker 3>have them invest directly into the market. For your child

0:17:06.119 --> 0:17:09.080
<v Speaker 3>if they really care about them.

0:17:09.359 --> 0:17:13.600
<v Speaker 2>My graduates from my school being forced bad drop.

0:17:13.920 --> 0:17:17.120
<v Speaker 6>Bag drop, Mike drop bad drop.

0:17:17.440 --> 0:17:31.160
<v Speaker 7>Drops Coach, the energy out there felt different. What changed

0:17:31.200 --> 0:17:31.920
<v Speaker 7>for the team today?

0:17:32.000 --> 0:17:34.160
<v Speaker 3>It was the new game day scratches from the California

0:17:34.200 --> 0:17:35.199
<v Speaker 3>Lottery players.

0:17:35.280 --> 0:17:37.920
<v Speaker 4>Everything. Those games sent the team's energy through the roof.

0:17:38.040 --> 0:17:40.000
<v Speaker 7>Are you saying it was the off field play that

0:17:40.040 --> 0:17:41.200
<v Speaker 7>made the difference on the field.

0:17:41.280 --> 0:17:44.000
<v Speaker 4>Hey, little play makes your day, and today it made

0:17:44.040 --> 0:17:46.400
<v Speaker 4>the game. That's all of now, Coach.

0:17:46.280 --> 0:17:46.960
<v Speaker 3>One more question.

0:17:47.119 --> 0:17:49.960
<v Speaker 7>Play the new Los Angeles Chargers, San Francisco forty nine

0:17:50.040 --> 0:17:53.080
<v Speaker 7>ers and Los Angeles Rams scratchers from the California Lottery.

0:17:53.200 --> 0:17:56.359
<v Speaker 7>A little play can make your day. Peacely, responsibly. It

0:17:56.400 --> 0:17:57.920
<v Speaker 7>must be eighteen years or older to purchase plate or

0:17:57.960 --> 0:17:58.280
<v Speaker 7>claim