October 22, 2024 • 14 mins
Jon discusses the merits and risks of investing in gold, particularly through unconventional means like purchasing gold bars from Costco. He reflects on the current market trends, the importance of understanding the value of tangible assets, and the implications of cryptocurrency as a modern investment option. Jon emphasizes the need for careful consideration when investing, especially for retirees, and the significance of being aware of financial trends that could impact one's retirement planning. Visit RetirementSolutionRadio.com to start building your retirement plan today!See omnystudio.com/listener for privacy information.
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Speaker 1 (00:00):
This is the Retirement Solution podcast with financial advisor John Hicks,
founder of Jay Haagen Capital.
Speaker 2 (00:07):
Glad to have you here with us on the retirement
solution with financial advisor John Hicks. Retirement solutionshow dot com
is our website and where you can start the conversation
with John and his team at jay Hagen Capital. We
also have links posted in the show notes are again
find us anytime Retirement Solutions show dot com. It might
(00:27):
be a gold bar found underneath the holiday tree, the
Christmas tree at the Hicks household, because you just.
Speaker 3 (00:33):
Confessed to be the tree.
Speaker 2 (00:35):
You just confessed to me that you bought some gold bars.
And I want to know more about this because I
was surprised to hear you say.
Speaker 3 (00:40):
That well costco. Yeahcos, So here's it. Here's the thing
over the past I don't know, ten years. Yeah, every
once in a while, I'll have one of these gold
bugs that'll come on the radio, or they'll come in
the office, or they're a client. They're say, John, what
do you think about gold? Do you think about gold?
They hear all the doom and gloom stories of you know,
gold's the only thing that's going to survive that enroaches.
(01:00):
You know, if there's a nuclear holocount and share, remember
you have to share share all definitely, sha, there's no
telling about what anyway. So you know, I just thought
it was funny because I thought, you know what, I
don't trust any of those places that advertise, you know,
we will buy you the best gold ever, we'll lock
it up for you and charge you some fee. I
just think, oh, that's crazy. For whatever reason. And yes,
(01:22):
I know it's a California company, but for whatever reason,
I feel that Costco does me right. I mean, I
don't always need eight pounds of mayonnaise, but but but
I know that there are no other places that I
can get eight pounds of maynaise for like three dollars
and ninety cents. So when I was going to buy
my gold bars, I did. I did it about three
or four months ago.
Speaker 2 (01:40):
That's interesting.
Speaker 3 (01:41):
I had when they so they had these signs. As
soon as you walk into Costco, they got these signs.
They get people as they're greeting you and checking your
little IDs, they had these signs. It's like, oh, we
have gold bars here. I'm like, you know what, I'm
gonna do that? And I got one and then I
heard I heard on a conservative radio. I heard that
they're going to sell out. So what did I do?
(02:03):
I was an idiot? And the next day they still
had them. I went back in about two more so
I got three gold bars about I don't know, three
four months ago. I look at it right before we
get online, because you said that we're going to talk
about gold, and I'm like, okay, well, let's see how
I did. Okay, I'm actually up eleven percent. Please spot price,
spot price. I'm up around eleven percent over those three
months that I've owned those gold bars from Costco. Now tomorrow,
(02:26):
could they go down to zero? I mean, probably not zero,
but could they go down? Sure? But I mean, you know,
it's one of those things where I never thought in
my life that I would be considered a gold bug.
But I do believe in having a decent amount. I
see a decent amount, you know, a few thousand dollars
in cash, cash, cash on hand. You never know when
things are going to get weird. I do believe in
having you know, some ammunition lined up in some places.
(02:48):
I do believe in having some safe drinking water in
the house.
Speaker 2 (02:50):
Huh.
Speaker 3 (02:51):
And I guess now, I have at least three little
mini gold bars.
Speaker 2 (02:55):
You've got it.
Speaker 3 (02:55):
They're not the huge you know, They're not like you know, I.
Speaker 2 (02:57):
Don't does really exist over the brick one.
Speaker 3 (03:01):
I think they do. Really, they don't exist in Fort
Knox anymore. I know that moved them all out of there.
H yeah, our government's probably smelting them down. I have
no idea what they do with that stuff.
Speaker 2 (03:10):
Wow.
Speaker 3 (03:10):
But no, the little ones I have there, I don't know.
They're like one troy ounce. So whatever the ounce is
now like four and twenty hundred, twenty seven hundred, whatever
it is.
Speaker 2 (03:18):
It's a record high. There's a record high price of gold.
It's near about twenty seven hundred dollars an ounce as
of the timing of this conversation today. It's not stopping
Costco shoppers a la you John Hicks from buying gold
bars from the warehouse chain. Most of the Costco stores
were sold out of their gold bars by the first
week of October. The question for many is the question
(03:42):
that people ask you, John, are are is this a
good idea? Should we be buying gold bars? Personal finance
expert Susie Orman was talking on CNN and she weighed
in with these thoughts.
Speaker 4 (03:53):
It's one thing to buy gold and get a physical bar.
It's another thing to have to sell it is not
what they are thinking about. You have to have it,
survey all these things. Where do you go, where do
you keep it? Is it ensured? Is it not? And
so there's a lot of things that I think people
really need to think about when you're buying physical goal Listen.
(04:15):
If you want to be invested in gold, you can
do it through an ETF, you can do it many ways.
But to buy the actual commodity, I'm not sure is
something that people should be doing.
Speaker 2 (04:27):
She gives it an interesting perspective here. I like we
sh to say it because something else that I have
had many conversations about throughout the course of my adulthood
with friends and family. They talk about, do you know
how much such and such thing, whatever the hot trend is,
you know how much this is worth or how much
going to be worth? And I look at them and
I say, I know exactly how much it's worth, beanie babies.
But every time I say I know exactly how much
it's worth, it is worth what somebody will pay you
(04:49):
for it. Do not sit here and be like it's
worth ten thousand dollars. It's not unless somebody will pay
you ten thousand dollars. And that I think is the
big thing that people well like. I like what she said.
It's like if you want to buy gold grape. But
remember if you're buying a gold bar, all the things
that you have to go through to sell it, that's
what it's actually worth.
Speaker 3 (05:09):
It's a huge deal. Right. So it's absolutely no different
than real estate or an automobile or anything else. Right,
It's a tangible asset, and someone is willing to give
you what they're willing to give you, right. So I
remember there were pictures there were pictures during the nineteen
twenty nine stock market crisis where where there were brokers
who had lost their job on Wall Street and they
were out front with I guess at the time what
(05:30):
it was a Rolls Royce, you know, I mean like
unbelievably expensive car at that point in time, and they
were selling it for the equivalent of like one thousand
dollars because they had no job, they had already spent
the majority of their money, they didn't do a good
job saving, and they were willing to give away used
today's numbers, a two hundred thousand dollars vehicle for one
thousand dollars, and no one had the money to give
(05:52):
it to them. Right. We can look at two thousand
and eight exactly the same situation where we had a
subcrime mortgage crisis. There were skyscrapers, ladies and gentlemen. You
have to remember this. It wasn't that long ago. Skyscrapers
in Detroit, Baltimore, Boston, New York City that people had
literally paid hundreds of millions of dollars for just a
(06:14):
year prior. They could not give them away for fifty
to sixty million dollars because no bank wanted to loan
on them, and no one wanted to put too much
money in them because they had no idea what was
going to happen. They didn't know if all those tenants
were going to move out. So greater fools theory, it's
only worth what someone is willing to pay you, right. Yeah,
So for me in my situation, those three gold bars
(06:36):
I got may constitute one to two percent of my
liquid investment portfolio. So anyone I think is perfectly fine
to invest five to six percent, maybe ten at the
high end, you have to have a lot of conviction.
You go up to ten percent, okay, but five to
ten percent, let's say in a let's call it an
ill liquid asset class that you have conviction in. Right,
(07:00):
whether you look at that as an investment, real estate
and or gold or a lake home or whatever. Hopefully
the objective is, and this is what Susie was saying,
Hopefully you don't have to sell it. But in the
event you need that money, you either need income to
live off of, or you need to sell it to
satisfy some debt or something else happens, or medical issues
or whatever. You don't want to own something you can't
(07:21):
get rid of. And I used to ask all my
gold bugs that would come in, John, I want to
sell everything. I want to put everything in gold. Oh
it sounded like the gold character from the Austin Powers
movie Gold Member. Ooh, it's gold gold, gold, gold, gold,
whatever that nonsense was. But I laugh I was like,
what are you gonna do when you need a tank gas?
Are you gonna go in there with that gold bar
(07:43):
and take your buck knife in to shwhittle off a
couple of shades and say this should be about sixty
five bucks worth? How are you gonna do that, right?
Because it's the conversion right. Because if I was gonna
make money, I would be one of those conversion people.
That's what I would do. Okay, because someone's gonna have
gold bars and someone's gonna need money. Absolutely, I'm willing
to give you thirty two cents on the dollar for
(08:03):
that gold bar so that you can actually have the
cast you need to do. What buy the food and
the water and the gasoline, the inning. That's where the
money is. And by the way, most of those companies
that sell you the gold, that's what they're actually selling you.
I'm not even going to name the names. So they say,
oh yeah, we'll give you this great brokered fee, and
they're charging you ten percent on the front end to
(08:23):
buy it, ten percent on the back end to sell it.
But more than that, they're charging a storage fee. They're
making money off of the fact and they don't even
care if gold goes up or down. It doesn't matter
to them. They're taking advantage of us as Americans for
not being well thought and what we're trying to do.
So Susie, I don't often agree with her. This time,
I one percent, though, agree with this piece of the puzzle.
(08:44):
I don't think that putting too much in intangible assets
is psycho valuable enough. It produces an income stream. Like
if you buy a piece of real estate and then
it's going to give you one thousand dollars a month
of rental income. Love it great? I think that's great.
That's twelve thousand dollars a year off that that's really good. Now,
as long as you get tenants that pay, it can
afford to keep paying, and you can keep up with inflation.
(09:07):
I think that's a great thing. That's a much better
use of the money in my opinion.
Speaker 2 (09:10):
This conversation around gold retirement solutionshow dot com is where
you can go if you want to know about intangible assets,
tangible or intangible.
Speaker 3 (09:18):
Intangible, tangible physical things you can know gold, bullion, real estate, automobiles, collectibles, artwork, things.
Speaker 2 (09:26):
Like tangible assets how they might fit into babas.
Speaker 3 (09:29):
Don't hopefully go there. Do not go there.
Speaker 2 (09:32):
If you want to know more about this and how
it works within your savings plan, your investment plan for
your financial future and your retirement years, give us a call.
Five zero two three, one seven zero eight four zero
is our number. That's five zero two, three, one seven
zero eight four zero. It all reminds me of this
conversation about gold, specifically about the idea of crypto, because
(09:55):
really that's what I wanted to ask you about in
this conversation. There is always a trend, John, There is
always some hot thing, or it might not even mean
a new thing. Gold is not a new thing. Crypto
is a new thing, but there's some cool thing, some
cool factor. And when it comes to trends and our
finances and our investments, what should we really be thinking
(10:17):
about I think, particularly from a retirees perspective.
Speaker 3 (10:20):
Yeah, I think trends can be good. Right. This is
why so many really good investment foundations are based on momentum.
What is consistently moving up, what continues to move up. Now,
historically we know that the S and P five hundred,
it's had a pretty long track record, and we can
feel pretty confident that yet over time, that's probably going
to do. Okay, No, it doesn't mean it's going to
(10:42):
do what you want, when you want, when you need
your money, so that you have to have some protection. Yeah,
but that's a pretty good one. Now, here's the thing
about cryptocurrency. Okay, cryptocurrency was created by young people who
wanted an alternative to gold. They wanted something that was
going to maintain a store of value when people realize
that our paper money, our dollar bill, really isn't worth
(11:03):
a dollar because the governments may not even have the
money to pay it back. Right, So that's what they
were trying to do. Because we don't have a silver
standard or a gold standard on our currency anymore. We
don't have any kind of standard. The government can and
does print money at will for whatever it wants to do.
We have thirty four thirty five trillion dollars of debt
in this nation, which is a tremendous amount of money.
(11:24):
We may not have the money to pay all that
debt back if we don't make some major decisions. This
election year is a big one. Doesn't matter what side
you're on, but you need to be aware of the issues.
It is super important that you understand that what we're
voting on is a big deal. We will become socialists
if we go one particular direction. Other people may not
(11:44):
like the other direction. I understand that capitalism left unchecked
can be maniacal, but socialism has bankrupted every culture in
every country we've ever seen that utilize socialism period. So
when we look at those types of things, we have
to be very aware what do we stand for, what
do we want to do. Cryptocurrency to me, has no
real purpose. If I wanted to invest in cryptocurrency, who
(12:08):
are the people that should want to invest in the
most other than people to just think they're going to
get rich. Arms dealers, human smugglers, human traffickers, narcotics dealers,
bad people because no one knows what you're doing when
you're doing it with that money. Those are the people
I think that win the most in that situation. Anything
that cultivates that type of temperament I personally don't like,
(12:32):
don't trust, and don't want Part number two. If I
was a treasury secretary of a country, there's no way
in the long run I would allow that to operate.
I wouldn't because you do not allow the country to
manipulate the currency the way it needs to. So those
two reasons are things that to me and for me,
I don't believe in crypto. Now do I own a
very small amount in my kids accounts? Yeah? Am I
(12:53):
ever going to sell it?
Speaker 2 (12:54):
No?
Speaker 3 (12:54):
Is it going to break the bank If it goes
to zero. No, but that's a couple grand is what
I in those things? Okay, I don't know that I
believe in it store of value. I don't think it has.
The best store of value is to get our country
on the right path, to make us be productive GDP,
producing human beings and do the right things. That is
how we create more wealth in the world, not just
(13:16):
the United States.
Speaker 2 (13:17):
Financial trends, the good, the bad, the ugly, how they
apply to you and your investment options, particularly when you're
thinking about your retirement future. Let's have this conversation. If
you have questions, if you have interests, If you I
have a neighbor talking in your ear about all of
the amazing things he's investing in, and you're wondering what
the heck it all means for you, John can help
(13:40):
you get some answers to that. So find us at
Retirement Solutions Show dot com. We also have links posted
in the show notes or again it's Retirement Solutions Show
dot com.
Speaker 1 (13:49):
Thanks for listening to the Retirement Solution Podcast with John Hicks.
Begin the conversation about your savings plan with John and
the team at Jahagen Capital by visiting retirement Solution Radio
dot com. Be sure to listen to John's radio show,
The Retirement Solution Saturdays at eight am and Sundays at
nine am on NewsRadio eight forty Whas.
Speaker 3 (14:10):
J Hagen Capital Incorporated is not licensed in all fifty states.
The find out if Jayhigan Capital Incorporated is licensed in
your state, Please call five zero two sixt nine oh
fifty six thirty five. Jay Higgen Capitol, Incorporated is not
affiliated with, nor endorsed by the Social Security Administration or
any other government agency, and does not provide legal or
tax advice. By contacting house, you may be provided with
information about insurance and annuity products offered throm Jjigin Capital
(14:30):
LLCNPN number one eight eight two seven zero nine four
This is the Retirement Solution podcast with financial advisor John Hicks,
founder of Jay Haagen Capital.
Speaker 2 (00:07):
Glad to have you here with us on the retirement
solution with financial advisor John Hicks. Retirement solutionshow dot com
is our website and where you can start the conversation
with John and his team at jay Hagen Capital. We
also have links posted in the show notes are again
find us anytime Retirement Solutions show dot com. It might
(00:27):
be a gold bar found underneath the holiday tree, the
Christmas tree at the Hicks household, because you just.
Speaker 3 (00:33):
Confessed to be the tree.
Speaker 2 (00:35):
You just confessed to me that you bought some gold bars.
And I want to know more about this because I
was surprised to hear you say.
Speaker 3 (00:40):
That well costco. Yeahcos, So here's it. Here's the thing
over the past I don't know, ten years. Yeah, every
once in a while, I'll have one of these gold
bugs that'll come on the radio, or they'll come in
the office, or they're a client. They're say, John, what
do you think about gold? Do you think about gold?
They hear all the doom and gloom stories of you know,
gold's the only thing that's going to survive that enroaches.
(01:00):
You know, if there's a nuclear holocount and share, remember
you have to share share all definitely, sha, there's no
telling about what anyway. So you know, I just thought
it was funny because I thought, you know what, I
don't trust any of those places that advertise, you know,
we will buy you the best gold ever, we'll lock
it up for you and charge you some fee. I
just think, oh, that's crazy. For whatever reason. And yes,
(01:22):
I know it's a California company, but for whatever reason,
I feel that Costco does me right. I mean, I
don't always need eight pounds of mayonnaise, but but but
I know that there are no other places that I
can get eight pounds of maynaise for like three dollars
and ninety cents. So when I was going to buy
my gold bars, I did. I did it about three
or four months ago.
Speaker 2 (01:40):
That's interesting.
Speaker 3 (01:41):
I had when they so they had these signs. As
soon as you walk into Costco, they got these signs.
They get people as they're greeting you and checking your
little IDs, they had these signs. It's like, oh, we
have gold bars here. I'm like, you know what, I'm
gonna do that? And I got one and then I
heard I heard on a conservative radio. I heard that
they're going to sell out. So what did I do?
(02:03):
I was an idiot? And the next day they still
had them. I went back in about two more so
I got three gold bars about I don't know, three
four months ago. I look at it right before we
get online, because you said that we're going to talk
about gold, and I'm like, okay, well, let's see how
I did. Okay, I'm actually up eleven percent. Please spot price,
spot price. I'm up around eleven percent over those three
months that I've owned those gold bars from Costco. Now tomorrow,
(02:26):
could they go down to zero? I mean, probably not zero,
but could they go down? Sure? But I mean, you know,
it's one of those things where I never thought in
my life that I would be considered a gold bug.
But I do believe in having a decent amount. I
see a decent amount, you know, a few thousand dollars
in cash, cash, cash on hand. You never know when
things are going to get weird. I do believe in
having you know, some ammunition lined up in some places.
(02:48):
I do believe in having some safe drinking water in
the house.
Speaker 2 (02:50):
Huh.
Speaker 3 (02:51):
And I guess now, I have at least three little
mini gold bars.
Speaker 2 (02:55):
You've got it.
Speaker 3 (02:55):
They're not the huge you know, They're not like you know, I.
Speaker 2 (02:57):
Don't does really exist over the brick one.
Speaker 3 (03:01):
I think they do. Really, they don't exist in Fort
Knox anymore. I know that moved them all out of there.
H yeah, our government's probably smelting them down. I have
no idea what they do with that stuff.
Speaker 2 (03:10):
Wow.
Speaker 3 (03:10):
But no, the little ones I have there, I don't know.
They're like one troy ounce. So whatever the ounce is
now like four and twenty hundred, twenty seven hundred, whatever
it is.
Speaker 2 (03:18):
It's a record high. There's a record high price of gold.
It's near about twenty seven hundred dollars an ounce as
of the timing of this conversation today. It's not stopping
Costco shoppers a la you John Hicks from buying gold
bars from the warehouse chain. Most of the Costco stores
were sold out of their gold bars by the first
week of October. The question for many is the question
(03:42):
that people ask you, John, are are is this a
good idea? Should we be buying gold bars? Personal finance
expert Susie Orman was talking on CNN and she weighed
in with these thoughts.
Speaker 4 (03:53):
It's one thing to buy gold and get a physical bar.
It's another thing to have to sell it is not
what they are thinking about. You have to have it,
survey all these things. Where do you go, where do
you keep it? Is it ensured? Is it not? And
so there's a lot of things that I think people
really need to think about when you're buying physical goal Listen.
(04:15):
If you want to be invested in gold, you can
do it through an ETF, you can do it many ways.
But to buy the actual commodity, I'm not sure is
something that people should be doing.
Speaker 2 (04:27):
She gives it an interesting perspective here. I like we
sh to say it because something else that I have
had many conversations about throughout the course of my adulthood
with friends and family. They talk about, do you know
how much such and such thing, whatever the hot trend is,
you know how much this is worth or how much
going to be worth? And I look at them and
I say, I know exactly how much it's worth, beanie babies.
But every time I say I know exactly how much
it's worth, it is worth what somebody will pay you
(04:49):
for it. Do not sit here and be like it's
worth ten thousand dollars. It's not unless somebody will pay
you ten thousand dollars. And that I think is the
big thing that people well like. I like what she said.
It's like if you want to buy gold grape. But
remember if you're buying a gold bar, all the things
that you have to go through to sell it, that's
what it's actually worth.
Speaker 3 (05:09):
It's a huge deal. Right. So it's absolutely no different
than real estate or an automobile or anything else. Right,
It's a tangible asset, and someone is willing to give
you what they're willing to give you, right. So I
remember there were pictures there were pictures during the nineteen
twenty nine stock market crisis where where there were brokers
who had lost their job on Wall Street and they
were out front with I guess at the time what
(05:30):
it was a Rolls Royce, you know, I mean like
unbelievably expensive car at that point in time, and they
were selling it for the equivalent of like one thousand
dollars because they had no job, they had already spent
the majority of their money, they didn't do a good
job saving, and they were willing to give away used
today's numbers, a two hundred thousand dollars vehicle for one
thousand dollars, and no one had the money to give
(05:52):
it to them. Right. We can look at two thousand
and eight exactly the same situation where we had a
subcrime mortgage crisis. There were skyscrapers, ladies and gentlemen. You
have to remember this. It wasn't that long ago. Skyscrapers
in Detroit, Baltimore, Boston, New York City that people had
literally paid hundreds of millions of dollars for just a
(06:14):
year prior. They could not give them away for fifty
to sixty million dollars because no bank wanted to loan
on them, and no one wanted to put too much
money in them because they had no idea what was
going to happen. They didn't know if all those tenants
were going to move out. So greater fools theory, it's
only worth what someone is willing to pay you, right. Yeah,
So for me in my situation, those three gold bars
(06:36):
I got may constitute one to two percent of my
liquid investment portfolio. So anyone I think is perfectly fine
to invest five to six percent, maybe ten at the
high end, you have to have a lot of conviction.
You go up to ten percent, okay, but five to
ten percent, let's say in a let's call it an
ill liquid asset class that you have conviction in. Right,
(07:00):
whether you look at that as an investment, real estate
and or gold or a lake home or whatever. Hopefully
the objective is, and this is what Susie was saying,
Hopefully you don't have to sell it. But in the
event you need that money, you either need income to
live off of, or you need to sell it to
satisfy some debt or something else happens, or medical issues
or whatever. You don't want to own something you can't
(07:21):
get rid of. And I used to ask all my
gold bugs that would come in, John, I want to
sell everything. I want to put everything in gold. Oh
it sounded like the gold character from the Austin Powers
movie Gold Member. Ooh, it's gold gold, gold, gold, gold,
whatever that nonsense was. But I laugh I was like,
what are you gonna do when you need a tank gas?
Are you gonna go in there with that gold bar
(07:43):
and take your buck knife in to shwhittle off a
couple of shades and say this should be about sixty
five bucks worth? How are you gonna do that, right?
Because it's the conversion right. Because if I was gonna
make money, I would be one of those conversion people.
That's what I would do. Okay, because someone's gonna have
gold bars and someone's gonna need money. Absolutely, I'm willing
to give you thirty two cents on the dollar for
(08:03):
that gold bar so that you can actually have the
cast you need to do. What buy the food and
the water and the gasoline, the inning. That's where the
money is. And by the way, most of those companies
that sell you the gold, that's what they're actually selling you.
I'm not even going to name the names. So they say,
oh yeah, we'll give you this great brokered fee, and
they're charging you ten percent on the front end to
(08:23):
buy it, ten percent on the back end to sell it.
But more than that, they're charging a storage fee. They're
making money off of the fact and they don't even
care if gold goes up or down. It doesn't matter
to them. They're taking advantage of us as Americans for
not being well thought and what we're trying to do.
So Susie, I don't often agree with her. This time,
I one percent, though, agree with this piece of the puzzle.
(08:44):
I don't think that putting too much in intangible assets
is psycho valuable enough. It produces an income stream. Like
if you buy a piece of real estate and then
it's going to give you one thousand dollars a month
of rental income. Love it great? I think that's great.
That's twelve thousand dollars a year off that that's really good. Now,
as long as you get tenants that pay, it can
afford to keep paying, and you can keep up with inflation.
(09:07):
I think that's a great thing. That's a much better
use of the money in my opinion.
Speaker 2 (09:10):
This conversation around gold retirement solutionshow dot com is where
you can go if you want to know about intangible assets,
tangible or intangible.
Speaker 3 (09:18):
Intangible, tangible physical things you can know gold, bullion, real estate, automobiles, collectibles, artwork, things.
Speaker 2 (09:26):
Like tangible assets how they might fit into babas.
Speaker 3 (09:29):
Don't hopefully go there. Do not go there.
Speaker 2 (09:32):
If you want to know more about this and how
it works within your savings plan, your investment plan for
your financial future and your retirement years, give us a call.
Five zero two three, one seven zero eight four zero
is our number. That's five zero two, three, one seven
zero eight four zero. It all reminds me of this
conversation about gold, specifically about the idea of crypto, because
(09:55):
really that's what I wanted to ask you about in
this conversation. There is always a trend, John, There is
always some hot thing, or it might not even mean
a new thing. Gold is not a new thing. Crypto
is a new thing, but there's some cool thing, some
cool factor. And when it comes to trends and our
finances and our investments, what should we really be thinking
(10:17):
about I think, particularly from a retirees perspective.
Speaker 3 (10:20):
Yeah, I think trends can be good. Right. This is
why so many really good investment foundations are based on momentum.
What is consistently moving up, what continues to move up. Now,
historically we know that the S and P five hundred,
it's had a pretty long track record, and we can
feel pretty confident that yet over time, that's probably going
to do. Okay, No, it doesn't mean it's going to
(10:42):
do what you want, when you want, when you need
your money, so that you have to have some protection. Yeah,
but that's a pretty good one. Now, here's the thing
about cryptocurrency. Okay, cryptocurrency was created by young people who
wanted an alternative to gold. They wanted something that was
going to maintain a store of value when people realize
that our paper money, our dollar bill, really isn't worth
(11:03):
a dollar because the governments may not even have the
money to pay it back. Right, So that's what they
were trying to do. Because we don't have a silver
standard or a gold standard on our currency anymore. We
don't have any kind of standard. The government can and
does print money at will for whatever it wants to do.
We have thirty four thirty five trillion dollars of debt
in this nation, which is a tremendous amount of money.
(11:24):
We may not have the money to pay all that
debt back if we don't make some major decisions. This
election year is a big one. Doesn't matter what side
you're on, but you need to be aware of the issues.
It is super important that you understand that what we're
voting on is a big deal. We will become socialists
if we go one particular direction. Other people may not
(11:44):
like the other direction. I understand that capitalism left unchecked
can be maniacal, but socialism has bankrupted every culture in
every country we've ever seen that utilize socialism period. So
when we look at those types of things, we have
to be very aware what do we stand for, what
do we want to do. Cryptocurrency to me, has no
real purpose. If I wanted to invest in cryptocurrency, who
(12:08):
are the people that should want to invest in the
most other than people to just think they're going to
get rich. Arms dealers, human smugglers, human traffickers, narcotics dealers,
bad people because no one knows what you're doing when
you're doing it with that money. Those are the people
I think that win the most in that situation. Anything
that cultivates that type of temperament I personally don't like,
(12:32):
don't trust, and don't want Part number two. If I
was a treasury secretary of a country, there's no way
in the long run I would allow that to operate.
I wouldn't because you do not allow the country to
manipulate the currency the way it needs to. So those
two reasons are things that to me and for me,
I don't believe in crypto. Now do I own a
very small amount in my kids accounts? Yeah? Am I
(12:53):
ever going to sell it?
Speaker 2 (12:54):
No?
Speaker 3 (12:54):
Is it going to break the bank If it goes
to zero. No, but that's a couple grand is what
I in those things? Okay, I don't know that I
believe in it store of value. I don't think it has.
The best store of value is to get our country
on the right path, to make us be productive GDP,
producing human beings and do the right things. That is
how we create more wealth in the world, not just
(13:16):
the United States.
Speaker 2 (13:17):
Financial trends, the good, the bad, the ugly, how they
apply to you and your investment options, particularly when you're
thinking about your retirement future. Let's have this conversation. If
you have questions, if you have interests, If you I
have a neighbor talking in your ear about all of
the amazing things he's investing in, and you're wondering what
the heck it all means for you, John can help
(13:40):
you get some answers to that. So find us at
Retirement Solutions Show dot com. We also have links posted
in the show notes or again it's Retirement Solutions Show
dot com.
Speaker 1 (13:49):
Thanks for listening to the Retirement Solution Podcast with John Hicks.
Begin the conversation about your savings plan with John and
the team at Jahagen Capital by visiting retirement Solution Radio
dot com. Be sure to listen to John's radio show,
The Retirement Solution Saturdays at eight am and Sundays at
nine am on NewsRadio eight forty Whas.
Speaker 3 (14:10):
J Hagen Capital Incorporated is not licensed in all fifty states.
The find out if Jayhigan Capital Incorporated is licensed in
your state, Please call five zero two sixt nine oh
fifty six thirty five. Jay Higgen Capitol, Incorporated is not
affiliated with, nor endorsed by the Social Security Administration or
any other government agency, and does not provide legal or
tax advice. By contacting house, you may be provided with
information about insurance and annuity products offered throm Jjigin Capital
(14:30):
LLCNPN number one eight eight two seven zero nine four
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