♪
OLIVER:
GOOD MORNING.
WELCOME BACK TO ANOTHER ADDITION
OF "THE MONEY PRO$."
I WILL BE A HOST FOR THE NEXT
HALF HOUR AS WE TALK ABOUT ALL
THE ISSUES DEALING WITH YOUR
MONEY.
HOW TO MAKE IT, HOW TO KEEP IT,
AND HOW TO HELP IT GROW.
FOR TODAY SHOW, THE FIRST
Ã-- DO INVESTORS AND
SAVERS NEED TO BE PROTECTED ON
THEMSELVES?
NEW RESEARCH WOULD SUGGEST THEY
DEFINITELY DO.
OF A RECENT STUDY THAT WAS DONE.
WE HAVE OUR REAL ESTATE PRO
JOINING US, CHAD KRITZAS JOINING
US FROM KELLER WILLIAMS REALTY.
WE HAVE THAT TO LOOK FORWARD TO.
WE WILL TALK WITH CHAD.
IN OUR THIRD SEGMENT, I WILL
TELL YOU WHY YOU SHOULD TAKE
ANY INVESTMENT ADVICE FROM PAT
BOONE -- THE SINGER WHO IS ON TV
ARE GOING TO COLLAPSE.
WE WILL TALK ABOUT WHY FOLLOWING
HIS ADVICE MAY NOT BE SUCH A
GOOD IDEA.
IN OUR LAST SEGMENT, I WILL
COVER VIEWER QUESTIONS ABOUT
CONTRIBUTING TO IRA'S.
WE HAVE ALL THAT TO GET TO, BUT
A NEW STUDY I READ ABOUT IN THE
WALL STREET JOURNAL.
IT COUNTERACTED SOME ADVICE I
WOULD NORMALLY THINK TO GIVE TO
CLIENTS.
ADVICE THAT I WOULD DEEM CLIENTS
FIND IMPORTANT WHEN LOOKING AT
INVESTORS.
DO WE NEED TO BE PROTECTED FROM
OURSELVES AND OUR O WORST
IS EVALUATING AN INVESTE
TALK A LOT ABOUT LIQUIDITY.
WE TALK ABOUT THE ABILITY TO GET
THE CASH OUT OF THEIR INVESTMENT
WITH LITTLE DAMAGE TO THE
INVESTMENT THE -- INVESTMENT
ITSELF.
WE USUALLY TALK ABOUT IT AS A
POSITIVE THING, BUT THE QUESTION
IS IF IT REALLY IS A POSITIVE
THING.
IT TURNS OUT, IN MANY CASES,
INVESTORS ARE NOT SO INTERESTED
IN LIQUIDITY.
IN FACT, THEY MAY PUT A
PREFERENCE ON HAVING SOME TYPE
OF RESTRICTIONS ASSOCIATED WITH
THEIR INVESTMENT.
I WANT YOU TO IMAGINE THE
FOLLOWING SCENARIO -- IMAGINE
TO PUT THAT INTO AN INVESTMENT
AND IN 10 YEARS, YOU WERE GOING
TO TAKE IT OUT FOR A PARTICULAR
GOAL.
LET'S SAY IT WAS TO BUY A SECOND
HOME OR TO BUY A CAR.
BUT YOU ARE GOING TO PUT THIS
$5,000 AWAY, AND YOU WANT TO GET
THE BEST RETURN POSSIBLE.
YOU ARE EVALUATING A BUNCH OF
DIFFERENT INVESTMENTS WITH
DIFFERENT CHARACTERISTICS.
WE HAVE THREE DIFFERENT OPTIONS
TO SEE WHAT YOU WOULD ACTUALLY
CHOOSE.
THE FIRST OPTION IS THAT YOU
COULD EARN 7% INTEREST ON THIST ANNUALLY OVER THE
NEXT 10 YEARS.
NO STRINGS ATTACHED.
IF YOU DECIDE YOU WANT TO TAKE
THAT MONEY OUT IN A YEAR, TWO
YEARS, FIVE YEARS, YOU WILL GET
YOUR $5,000 INVESTMENT IN
WHATEVER INTEREST YOU E OF
TO THAT POINT.
THE SECOND OPTION, THE SAME
7%
INTEREST, BUT IF YOU TAKE IT OUT
BEFORE THAT TENURE.
-- THAT 10 YEAR PERIOD
IS UP,
YOU WILL LOSE ANY INTEREST.
THEIR CHOICE, THAT
T -- THIRD
CHOICE, THE SAME 7% INTEREST
RATE WOULD BE PAID TO YOU, BUT
YOU CANNOT TOUCH YOUR MONEY AT
ALL.
YOU CANNOT WITHDRAW IT OR
REQUESTED.
THERE IS NOTHING YOU CAN DO.
CONVENTIONAL WISDOM WOULD SAY
THAT MOST PEOPLE WOULD CHOOSE
OPTION NUMBER ONE.
I COULD GET AT THAT MONEY
ANYTIME I WANT WITH A 7%
INTEREST.
INTERESTINGLY, A NEW STUDY
RECENTLY DONE SUGGESTED THAT
AMERICANS WOULD ACTUALLY MAKE
SOME DIFFERENT CHOICES.
IN FACT, 80% OF AMERICANS CHOOSE
TO PUT SOME OF THEIR MONEY INTO
SO, THAT $5,000 -- 80% OF
AMERICANS SURVEYED SAID THAT AT
LEAST SOME OF THAT $5,000 THEY
WOULD PUT INTO ONE OF THE
ACCOUNTS WITH RESTRICTIONS
ATTACHED.
WHEN GIVEN THE CHOICE BETWEEN
ONLY TWO OF THOSE INVESTMENTS,
ONE BEING THE NO STRINGS
ATTACHED, AND THE OTHER
OPTION
BEING SOMETHING WITH
RESTRICTIONS, NOT ONLY DID MOST
PEOPLE CHOOSE IN ACCOUNT WITH
THE RESTRICTIONS, BUT NEARLY 50%
ALLOCATED NEWLY 50% OF
THEIR
MONEY TO THE ACCOUNT WITH
RESTRICTIONS.
RATHER THAN ALLOCATING 100% TO
THE NO STRINGS ATTACHED FUN,
MOST PEOPLE CHOSE 50% GOING TO
ONE WITH RESTRICTIONS.
FINALLY, THE MORE RESTRICTIVE
THE RESTRICTIONS ACTUALLY WERE
-- THE WORST IT WAS FOR YOU TO
TAKE MONEY OUT, THE MORE LIKELY
IT IS THAT AMERICANS WANTED TO
COMMIT THEIR MONEY TO IT.
MOST PEOPLE BELIEVE, AS WE
EXAMINE THI -- THESE
RESULTS,
INVESTORS ACTUALLY WANT SOME
HANDCUFFS.
IT RAISES SOME INTERESTING
QUESTIONS ABOUT PENALTIES
ASSOCIATED WITH EARLY
WITHDRAWALS FROM IRA'S 529
PLANS, AND OTHER THINGS WE TALK
ABOUT ON THE SHOW.
IT TURNS OUT, MAYBE INVESTORS
ARE LOOKING FOR MORE OF THIS
TYPE OF THING RATHER THAN LESS
OF IT.
UP NEXT, WE ARE TALKING WITH
OLIVER: WELCOME BACK TO "THE
MONEY PRO$."
I AM JOINED NOW BY CHAD KRITZAS
FROM KELLER WILLIAMS REALTY.
WE ARE TALKING ABOUT INVESTMENT
REAL ESTATE HERE.
WE WILL TALK ABOUT MULTIFAMILY'S
WHICH IS SOMETHING NOT ENTIRELY
UNIQUE TO NEW ENGLAND.
HOWEVER, IT HAS A NEW ENGLAND
FLAVOR TO IT.
FIRST, LET'S TALK ABOUT HOW THE
OVERALL REAL ESTATE MARKET IS
DOING IN RHODE ISLAND.
AS WE APPROACH MID-MARCH, YOU
PROBABLY HAVE AN IDEA OF HOW THE
FIRST QUARTER OF 2017 IS GOING.
WHAT CAN YOU TELL US ABOUT IT?
CHAD: IT IS PROBABLY THE BEST WE
HAVE SEEN IN 18 YEARS.
WE DID NOT REALLY HAVE ANY BIG
SNOWSTORMS THIS YEAR LIKE LAST
YEAR.
WE DID NOT REALLY HAVE ANY WITH
HER SLOW DOWN.
MARCH HAS BEEN CRAZY.
THE BIG ISSUE THAT
WE WILL TALK
ABOUT A COUPLE OF TIMES TODAY IS
THE INVENTORY.
SO,
FOR SELLERS, THE BIG THING
RIGHT NOW IS THAT THERE ARE VERY
FEW HOMES FOR SALE.
WE ARE DOWN FROM LAST
YEAR.
WE HAVE RISING SALE NUMBERS AND
LESS INVENTORY.
IT IS A SORT OF CATCH 22.
OLIVER: IT SOUNDS LIKE YOU WOULD
EXPECT INVENTORY TO GO DOWN OVER
THE WINTER, BUT YOU ARE TALKING
ABOUT FROM THIS TIME LAST YEAR.
IT IS EVEN DOWN FROM THAT.
SO, RELATIVE TO WHERE IT WAS
FROM JUNE OF LAST YEAR, IT IS
WAY DOWN.
CHAD: YES, WAY DOWN.
IT IS A HUGE DROP IN
INVENTORY
NUMBERS ESPECIALLY IN THE MIDDLE
OF THE WINTER.
OLIVER:
WITH SINGLE-FAMILY HOMES
--
CHAD: 21% UP AND INVENTORY IS
DOWN 13%.
IT HAS BEEN DRIVING OFFERS UP.
OLIVER: SO THE REAL ESTATE
MARKET IS HIGH, WE WILL TALK
ABOUT A PORTION OF THE REAL
ESTATE MARKET WHICH IS
MULTIFAMILY, RESIDENTIAL
PROPERTY.
I RECOGNIZE THAT MULTIFAMILY'S
ARE NOT UNIQUE TO RHODE ISLAND
OR NEW ENGLAND, BUT WE ARE
TALKING -- WHEN WE TALK ABOUT A
MULTIFAMILY ABOUT HERE, WHAT ARE
WE TALKING ABOUT?
CHAD: I REALLY LOVE WORKING IN
ALL OF RHODE ISLAND BECAUSE IT
IS SO SMALL, BUT IT DOES GET
KIND OF GENERALIZED TO CERTAIN
AREAS.
I COULD LOOK AT A THREE UNIT
BUILDING IN DOWNTOWN NEWPORT.
REALLY, THERE ARE DIFFERENT
ANIMALS.
IN PROVIDENCE, YOU HAVE
DIFFERENT STYLE HOUSES.
OLIVER: TRIPLE-DECKER'S,
OLD-STYLE HOUSING.
CHAD: IN NEWPORT, THERE ARE A
LOT OF SMALLER UNITS ON THE
RESIDENTIAL SIDE.
MOSTLY, YOU HAVE TWO OR THREE
UNIT BUILDINGS.
SOMETIMES EVEN FOR UNITS.
-- EVEN FOUR UNIT.
THE BIGGER SEVEN OR EIGHT UNIT
BUILDINGS, YOU CAN MAKE CONDOS
UNDER THOSE.
-- CONDOS OUT
OF THOSE.
OVER THE PAST COUPLE OF DECADES,
INVESTORS HAVE BEEN BUYING THEM,
TURNING THEM INTO CONDOS, AND
THEN SELLING THEM OFF.
OLIVER: SO, YOU TYPICALLY SEE
THE ONES REMAINING AS TWO OR
THREE UNIT BUILDINGS.
ARE PEOPLE STILL BUILDING THEM?
CHAD: THERE IS JUST NOT AS MUCH
LAND LEFT TO DEVELOP IT.
OLIVER: THAT CERTAINLY IMPACTS
THE INVENTORY AVAILABLE.
WHEN WE TALK ABOUT MULTIFAMILY
HOUSING, WHAT AREAS
OF RHODE
ISLAND -- I KNOW YOU FOCUS ON
EACH DAY, BUT GENERALLY
SPEAKING, WHAT AREAS ARE THE
HOTTEST AREAS FOR MULTIFAMILY
PROPERTIES?
CHAD: IF YOU ARE LOOKING TO DO A
SEASONAL RENTING TO CAPITALIZE
ON THE SUMMER MARKET, YOU WOULD
LOOK AT EAST BAY AND NEWPORT
COUNTY.
IF YOU ARE LOOKING TO DO
LONG-TERM INVESTMENTS, YOU MIGHT
WANT TO LOOK MORE INTO THE
CITIES.
IT IS HARDER IN A CITY LIKE
NEWPORT TO REALLY COVER YOUR
NUT
EVERY MONTH ON SOMETHING YOU MAY
PAY A LOT FOR.
IT IS $200,000 A UNIT.
THAT IS EXPENSIVE.
YOU PRAY FOR -- PAY FOR
THE
PREMIUM.
OLIVER: SO, IF IT WERE TO
BE
KEPT AS A RENTAL PROPERTY, IT
WOULD HAVE TO BE A SEASONAL TYPE
OF PROPERTY.
IS THAT WHAT WE ARE TALKING
ABOUT?
CHAD: IT IS.
YOU HAVE TO LOOK AT HOW YOU ARE
LOOKING AT THIS INVESTMENT.
ARE YOU LOOKING AT THIS RENTAL
PROPERTY TO MAKE YOU DOLLARS
EVERY MONTH?
OR IS IT THE OPPOSITE?
ARE YOU JUST LOOKING AT THE GAIN
OVER A 10 OR 20 YEAR PERIOD.
HISTORICALLY, REAL
ESTATE, YOU
HAVE SOME BIG UPS AND DOWNS.
BUT, AS A WHOLE GOES UP ABOUT 4%
A YEAR.
SO, IF YOU HAVE BEEN OWNING THAT
PROPERTY FOR 10 YEARS OR 20
YEARS, YOU COULD USE IT AS A
RETIREMENT TOOL.
YOU USE IT -- YOU PAY OFF, AND
THEN YOU HAVE THREE UNITS OF
RENT COMING IN.
SOME MIGHT BREAK EVEN, SOME
MIGHT MAKE A FEW BUCKS, SOME
MIGHT LOSE A FEW BUCKS, BUT
AFTER 10 YEARS IT DOES GO UP BY
ABOUT 4%.
OLIVER: WE STARTED TALKING ABOUT
HOW THE OVERALL REAL ESTATE
MARKET IS IN RHODE ISLAND.
WHAT IS THE MULTIFAMILY MARKET
LOOK LIKE IN RHODE ISLAND RIGHT
NOW?
CHAD: IN
JANUARY -- FROM JANUARY
TO JANUARY, THE PRICE IS UP 20%.
TWO YEARS BACK, PRICES
WERE UP
18% OVER TWO YEARS.
THE UNITS FOR SALE WERE DOWN
37%
FROM TO USE AGO.
-- FROM TWO YEARS
AGO.
SO, WE HAVE THIS INCREASE OF
SALES WITH A DECREASE
IN
INVENTORY.
I'VE NEVER SEEN A BETTER TIME TO
SELL REAL ESTATE.
OLIVER: SO, THE KEY FACTORS WE
LOOK AT HERE WITH INVESTMENTS --
THE INVENTORY IS WAY DOWN.
JUST NOT A LOT OF PROPERTIES
AVAILABLE.
WHETHER IT IS A CHICKEN OR IN
ANYTHING, THE PRICES ARE WAY UP.
WE ARE TALKING ABOUT THE AVERAGE
4% RATE OF RETURN IN THE PAST
COUPLE OF YEARS ON MULTIFAMILY
PROPERTIES, BUT IT HAS BEEN
SUBSTANTIALLY BETTER THAN THAT.
YOU SEE A LOT OF BIDDING WARS?
CHAD: YES,
WE ARE SEEING THE
MULTIPLE OFFERS ON ALMOST
EVERYTHING AS LONG AS IT IS
PRICED ACCORDINGLY.
BUYERS ARE VERY EDUCATED.
YOU CAN GO ON TO ANY OF THESE
BIG SEARCH ENGINES, AND YOU CAN
SEE RECENT SALES.
EVERYBODY IS VERY EDUCATED.
THEY ARE NOT GOING TO PAY THIS
EXORBITANT AMOUNT OF PRICE.
THEY WILL WAIT FOR SOMETHING
BETTER TO CHOOSE FROM.
OLIVER: DO YOU SEE CORPORATE
REAL ESTATE INVESTORS COMING IN
-- YOU HEAR ABOUT THE ADS ON THE
RADIO, THE PROGRAMS TO BUY
RENTAL PROPERTY, DO YOU SEE
THOSE BIGGER ORGANIZATIONS
HAVING AN IMPACT ON THE MARKET?
OR ARE MOST OF THE BUYS LOCAL TO
THE MARKET?
CHAD: IN MY WORLD, IT IS MORE
LOCAL OR OTHER NEW ENGLAND
STATES.
PRIMARILY, IN CONNECTICUT,
BOSTON, NEW YORK WILL OWN A
VACATION HOME IN NEWARK.
IN MY WORLD, IT IS RESIDENTIAL
OWNERS AND LESS CORPORATIONS.
OLIVER: LET'S TALK ABOUT PEOPLE
WHO MIGHT BE WATCHING AND ALWAYS
HAVE HAD IN THE BACK OF THEIR
HEADS THAT INVESTMENT REAL
ESTATE INTO MULTIFAMILY MAKE
SENSE.
I KNOW SOMEONE WHO DID IT
, BUT
THEY MAY HAVE NOT SPECIFICALLY
DONE IT BEFORE.
THE MAKE THE MOVE TO, TO YOU AND
SAY THIS IS SOMETHING THEY ARE
SERIOUSLY THINKING ABOUT DOING
-- WHAT ARE THE THINGS YOU TALK
TO THEM ABOUT TO MAKE SURE IT IS
THE RIGHT THING FOR THEM?
CHAD: YET TO MAKE SURE THEY KNOW
WHAT THEY ARE LOOKING TO INVEST
IN.
ARE THEY LOOKING AT
SINGLE-FAMILY HOMES?
THEY COULD COST YOU MORE
MONTHLY.
YOU HAVE TO LOOK AT THE DOWN
PAYMENT AND THE RENTAL INCOME.
YOU CAN DO -- YOU CANNOT DO
WEEKLY IN THE CITY OF NEWPORT
UNLESS IT IS A SPECIFIC BLOCK
DOWNTOWN.
SO, YET THE LOOK AT SEASONAL
RENTERS.
YOU HAVE TO ASK THEN WHO IS YOUR
WINTER TENANT?
A LOT OF THE TIME, IT IS COLLEGE
STUDENTS.
NOT ALWAYS YOUR GENTLEST
TENANTS
ON THE PROPERTY.
I DO MIND YOUR ROUTE, BECAUSE IT
IS EASIER TO MANAGE.
I HAD A MAN WHO IS GETTING $4300
A WEEK.
YOU TAKE A PROPERTY LIKE THAT IN
THE SUMMER, AND THAT IS BIG
MONEY.
THAT IS OVER $16,000 A MONTH.
OLIVER: WHAT ABOUT MAINTENANCE?
I'M NOT SURE IF I HAVE MENTIONED
THIS ON THE SHOW
BEFORE, BUT THE
FIRST HOUSE I EVER BOUGHT WAS A
THREE FAMILY.
I DID BECAUSE MY FATHER-IN-LAW
OWNED THEM, AND I SAW HE WAS
SUCCESSFUL.
SO, I BOUGHT A THREE FAMILY.
THIS MIGHT SURPRISE MY VIEWERS,
BUT I AM A PRETTY HANDY GUY.
I WAS ABLE TO TAKE CARE OF IT,
AND I DID NOT MIND DOING IT.
ASSUMING I WAS AN ABSENTEE
LANDLORD
-- IN THIS CASE I MOVED
OUT OF STATE SO IT BECAME
DIFFICULT -- THE YOU TALK WITH
PEOPLE ABOUT HOW HAVING TENANTS
IS LIKE A 24/7 TYPE OF JOB TO AN
EXTENT?
HOW DO YOU MANAGE THE
MAINTENANCE AND STUFF LIKE THAT?
CHAD: YOU COULD HAVE A PROPERTY
MANAGER LOCALLY WHO WILL KEEP AN
EYE ON IT WEEKLY, BUT THAT IS
ANOTHER PROFIT THAT -- THAT IS
ANOTHER LOSS TO PROFITS.
THE TENANTS WILL CALL YOU IF HE
GOES DOWN, IF
-- YOU IF
THE HEAT
GOES DOWN.
OLIVER: BUT IT IS IMPORTANT TO
THINK ABOUT, BECAUSE IT IS NOT
LIKE YOU SEE ON HDTV.
CHAD, SO MUCH MORE TO TALK
ABOUT, BUT WE HAVE TO STOP IT
THERE.
SO MUCH MORE TO TALK ABOUT ON
"THE MONEY PRO$."
OLIVER: WELCOME BACK TO "THE
MONEY PRO$."
IN THIS SEGMENT, I WANT TO SHARE
A LITTLE BIT OF A PET P.
SOMETIMES, I SEE THESE THINGS
AND THEY IRRITATE ME.
THE LATEST ONE IS AT BOONE.
YOU MAY BE F HIM
.
HE WAS A SINGER WHOSE HEYDAY WAS
IN THE 60'S.
NOT EXACTLY MY STYLE OF MUS3
I KIND OF WISH HE WOULD JUST GET
TO THE ENTERTAINMENT INDUSTRY.
I'M PROBABLY GETTING MYSELF
HERE, BUT I WISH HE WOULD STAY
AWAY FROM GETTING INVESTMENT
ADVICE.
I'M NOT SURE IF YOU HAVE SEEN
THE ADVERTISEMENTS FOR A COMPANY
CALLED SWISS AMERIC
HE TALKS
ABOUT IMPORTANT GOALS
IN INVESTMENT.
ONE OF THE IRONIES IS THAT SWISS
AMERICA IS BASED IN PHOENIX,
ABOUTARIZONA, SO IT IS NOT THE SORT
OF PRIVATE SWISS BANK ACCOUNT
YOU MIGHT THINK ABOUT WHEN
INVESTING.
WHAT I DID NOT LIKE ABOUT THE
ADVERTISEMENT WAS THAT HE WOULD
KEEP YOU SAFE FROM THE PENDING
FAILURE OF THE AMERICAN BANKING
SYSTEM.
I WOULD NOT SIT HERE AND TELL
YOU THAT THE BANKING SYSTEM HAS
NOT HAD ITS SHARE OF PROBLEMS,
BUT THE REALITY IS THAT THAT IS
THE SAFEST PLACE TO PUT YOUR
MONEY.
IT IS INSURED BY THE UNITED
STATES OF AMERICA.
THERE ARE VERY FEW ALTERNATIVES
THAT WOULD BE SAFER ON THE RISK
SPECTRUM.
HE TALKS ABOUT HOW WONDERFUL
IT
IS AS A STORE OF VALUE.
YOU HAVE THIS PAGE OF HOW THE
BANKS ARE GOING TO FAIL, AND
THAT YOU REALLY NEED TO BUY
GOLD, BECAUSE IT IS IN
INVESTMENT IN THE COMING ERA.
I DO NOT KNOW IF THAT MEANS THE
ZOMBIE APOCALYPSE OR IF NORTH
KOREA IS GOING TO NUKE THE
WORLD, BUT IT ALL SORT OF SOUNDS
OF ARMAGEDDON.
LET ME SEE IF I CAN PUT SOME
REASON TO THIS POINT.
THIS GRAPH GOES FROM 1979 TO ALL
THE WAY THROUGH TO TODAY.
WORK ILLUSTRATING IS
THE $10,000
INVESTMENT WHICH IS THE BLUE
LINE.
THAT WOULD BE STAYING EVEN.
THE MORE JAGGED BLUE LINE IS THE
VALUE OF YOUR $10,000 INVESTMENT
IN GOLD IN 1979.
YOU CAN SEE THAT BY 2002, YOU
HOW ARE
-- YOU WOULD BE WISHING
YOU HAD NOT PUT ALL YOUR MONEY
IN GOLD.
IF YOU COMPARE TO YOUR
$10,000
INVESTED IN GOLD IN 1979 TO WHAT
IT COULD ACTUALLY BE INVESTED IN
TODAY, YOU ACTUALLY LOST SOME
MONEY.
THERE IS ONE OTHER
LINE I WANT
TO POINT OUT.
THAT IS THE GREEN LINE.
GUESS WHAT THAT IS.
IT IS THE MARCH OF INFLATION.
THAT $10,000 INVESTMENT
-- TO
JUST KEEP YOUR MONEY THE SAME,
YOU WOULD NEED ABOUT $36,000 IN
THE BANK TO BE ABLE TO BUY THE
SAME BASKET OF GOODS AND
SERVICES.
SO, NOT ONLY HAS GOLD
LAST MONEY
ON A REAL DOLLAR BASIS SINCE
1979, BUT IT LOST MONEY ON AN
INFLATION ADJUSTMENT BUSINESS --
BASIS.
I THINK GOLD IS A RATHER LOUSY
INVESTMENT.
IT IS NOT PART OF MY CLIENT
PORTFOLIO.
WHEN YOU LOOK AT AN ASSET CLASS
TO PUT INTO A PORTFOLIO, IT HAS
TO PROVIDE LONG-TERM REAL
RETURN.
THAT MEANS RETURN IN EXCESS OF
INFLATION.
I CAN EASILY DEMONSTRATE THAT
GOLD DOES NOT DO THAT.
YOU HAVE TO WONDER WHY PAT BOONE
IS HAWKING GOLD.
IF YOU CALLS WAS AMERICA, THEY
WILL TRY TO SELL YOU -- CALL
SWISS AMERICA, THEY WILL TRY TO
CO-YOU -- TRY TO SEE!
-- TO SELL
YOU GOLD COINS.
MY ADVICE IS TO HANG ONTO YOUR
CASH.
IF YOU REALLY WANT TO BE
CONSERVATIVE, STICK IT INTO THE
BANK, BUT DO NOT TAKE YOUR
INVESTMENT ADVICE FROM PAT
BOONE.
THAT ISY LITTLE TIRADE FOR
TODAY.
COMING UP, WE WILL ANSWER SOME
OLIVER: WELCOME BACK TO "THE
MONEY PRO$."
I GOT A QUESTION FROM A CLIENT
THAT I THOUGHT WAS A GOOD ONE TO
SHARE WITH "THE MONEY PRO$"
AUDIENCE.
MY WIFE AND TURNED 70 LAST
YEAR.
WE HAVE TO MAKE CONTRIBUTIONS TO
OUR IRA, BUT I STILL WORK.
CAN WE MAKE MONEY 16 INVESTMENTS
INTO IRA WHILE HITTING A
DEDUCTION.
GOOD QUESTION.
YOU ARE NOT ENTITLED TO MAKE A
TRADITIONAL IRA CONTRIBUTION.
IT IS A LITTLE CONVOLUTED WHEN
YOU GO TO THE IRA WEBSITE AND
READ THE EXPLANATION.
MAKES IT SEEM LIKE IT MIGHT BE
ELIGIBLE THE YEAR AFTER, THE
YEAR AFTER YOU TURN 70 AND A
HALF, YOU ARE NO LONGER ELIGIBLE
THEN OR ANY POINT AFTERW3
MAKE A CONTRIBUTION TO AN IRA.
SO, UNFORTUNATELY, THAT HAS COME
TO AN END.
IF YOU HAVE A QUESTION FOR ANY
OF THE MONEY
PROES, YOU CAN --
MONEY PROS, YOU CAN MAIL ME.
WE WILL ANSWER ALL OF YOUR
QUESTIONS.
THANK YOU JOINING US, FOLKS.
HAVE A GREAT DAY.
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