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Speaker 1: Welcome to another episode of the Chicks on the Right podcast.

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It's just you and me Zach here today to talk

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about Trump accounts, and of course Zach is our friend

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and sponsor of the show from Bulwark Capital Management. And

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this is great timing because Trump accounts were announced. People

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are excited, and I think they should be. I mean, like,

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this is a really this is kind of how a

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lot of people imagine that social Security should actually look like.

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Is just you have a baby, you start them an account,

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and if they even if they do nothing to it,

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even if they only just leave that thousand dollars worth

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of government seed money in there and don't even contribute

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on top of that, they can have a nice chunk

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of change by the time they're eighteen, and certainly by

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the time they retire.

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Speaker 3: Yeah. No, it.

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Speaker 2: When you look at it through that lens, I think

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it makes all the sense in the world. The other thing,

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the other thing that I like is that if we're

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going remember, the longer we've got to touch, the longer

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you've got to plan anything as it relates to money, Yeah,

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much larger advantage you have, right, because you're able to

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take advantage of compounding interest over time. So what you're

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when you look at social security and you look at

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the demographics in this country, and it always drives me

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nuts when people go at this point in the future

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or in twenty thirty, social security is going to be bad.

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Social Security is bankrupt already. If it was if it

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was a business, we'd be like, put a fork in.

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This thing's done, okay, you know, because you're still operating

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in a massive deficit. The other thing too, guys, just

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for everybody to know when it does quote unquote run

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out of money, it's not out of money. Why they

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phrase it that way, I will never understand. Back in

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the sixties, when they rated the Social Security lock box,

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social security became a general obligation of the federal government.

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And that is a that is a that is a

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technical just like a US government bond is a general obligation.

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So what that means is it doesn't matter how much

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the program is funded. The government will fund it regardless, right,

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So if they have to print money to backfill it

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and pay it, they will, Okay, So obviously that's not tenable, right.

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So bottom line is you're gonna have a big swath

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of people, mostly the younger you are the higher the

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percentage chance that you're never going to see social security.

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So prior to taking those security away, we should we

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should have something in lieu of it. And like we

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were saying, the earlier the better because you start taking

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advantage of compound and interest. And here's the thing for

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people that this scarcy. I remember we did a study

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back in O eight to nine when everybody was freaking

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out about the government bailouts of the banks. Right back then,

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that was back when everybody freaked out over TARP. If

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you remember TARP, Troubled Asset Relief Program, it was eight

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hundred and eighty billion, right, and we thought the world

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was coming to an end. What we've realized now is that,

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you know, that's just a good day's work, right. We

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throw around quarter billion for this, five hundred billion for that,

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a trillion for this. So but but what we were

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looking at back then is remember there was talk about,

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especially in the eighties and nineties, about quote unquote privatizing

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social security.

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Speaker 3: Okay, so we said, okay, what would that have looked

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like where every.

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Speaker 2: Single one of our Social security payments would have gone

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into an account that just held the SMP five hundred Okay,

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the numbers that we came up with. If I'm remembering,

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it's been like fifteen years since we did this. But

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if I remember correctly, had you done that, the average

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Social Security benefit would have been something like ten to

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twelve x what it is currently.

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Speaker 3: God, okay, here was even there? Are we doing this well?

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Speaker 2: Because then people on the left at that time, the

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left especially, said you're gonna gamble their retirement savings in

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markets and oh, it's so horrible, And you're like, they're

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twenty five years old. Can you show me another forty

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year period of time in which the US stock market

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was up, not up substantially, and it will be up

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substantially forty years from now, if for no other reason

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than inflation. Okay, Like people always forget what if our

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country comes to when when the final days of the

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US are finally upon us, the US stock market will

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be at a record high.

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Speaker 3: You'd be like, what do you mean?

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Speaker 2: And I go, no, just via inflation, meaning you know,

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the best performing stock market in the last twenty years

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has been Zimbabwe. Right, Their inflation is averaged eight hundred percent,

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Their stock market's average twelve hundred percent a year, right or.

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Speaker 3: No, excuse me?

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Speaker 2: Their stock market average eight hundred percent a year, inflation

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average twelve hundred percent a year, So meaning the best

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way to protect them in the long run is to

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get them.

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Speaker 3: Invested in stuff like this.

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Speaker 2: So I think that this eventually, and I would assume

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this is the thinking behind it, is that this is

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kind of going.

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Speaker 3: To be the first salvo in eliminating what.

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Speaker 2: Was seen at you know, what the role social Security

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did and replace it with something better.

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Speaker 3: And I hope so.

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Speaker 1: I mean, I think this is such a great solution.

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I know it's you know, for kids in sort of

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like this three year window, but I'm hoping that this

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will be a great test scenario and that this is

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something that will continue. But the downside is that, you know,

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we don't know much about how the mechanics are going

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to work exactly. But assuming that this works, like a

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like a five to two nine for example, where you know,

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you can just you grandparents can contribute, Employers can contribute

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up to five thousand dollars. But even again, even if

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you don't contribute anything, and this just grows and it compounds,

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you've got potentially a whole bunch of eighteen year olds

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that may or may not be responsible enough to know

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how to deal with this big chunk of change that

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all of a sudden they have access to. How would

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you advise parents to prepare their kids to understand what

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they have coming this three year window of kids that

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are fortunate enough to be getting Trump accounts, how would

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you prepare their parents to prepare the kids?

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Speaker 2: Oh, so you look, I am, especially when I see

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parents that are doing a good, good job raising kids

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in any capacity.

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Speaker 3: My ears are wide open, right learning tips. So I

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like meaning I don't.

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Speaker 2: I am not a finished I'm not a finished product,

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and I am not the best parent in the world. Okay,

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so when I say this, I'm not like using myself

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as the ultimate example here, But I'll tell you what

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we do with our kids with their investment accounts that

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we've already established within for them is not all the time,

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but I try to do it once a quarter where

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we'll be sitting around the island in the kitchen and

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we'll take fifteen or twenty minutes.

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Speaker 3: They'll bust out their green light.

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Speaker 2: Accounts that we've got for them, and we'll go through

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and kind of buy and sell this and kind of

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do this and involve.

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Speaker 3: Them in it.

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Speaker 2: And teach them how like I think one of the

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I'm glad you asked this question because I think one

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of the educational parts of what these accounts. If parents

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utilize this to teach their kids about money, which I

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hope they do, one of the beautiful things they're going

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to be able to teach their kids is the power

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of compounded interest over time. Yes, and that is really

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a big part I think of learning delayed gratification, which

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I think everybody is in need of learning about delayed gratification.

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I don't think that there's ever been a generation because

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of the Internet, because of smartphones, everything at the tip

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of their hands. I don't think that that we've ever

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had a generation that could benefit more from learning about

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that and also learning about how the economy works. And

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the simple reason for that is, like everything else, you know,

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one of the best ways to learn any game, you know,

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if I want to learn a game, for instance, at

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a casino, you throw down twenty bucks and.

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Speaker 3: You play right.

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Speaker 2: And so I obviously this is more serious than that,

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but this allows them to actually have real money in

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the market in some sort of investment and start realizing

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that the things that happen around the world can greatly

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impact that account, right that what government does can impact

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that account, and to contribute more and watch it growing.

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So make it a family thing. And it doesn't have

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to be once a week. It shouldn't be but once

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a quarter, maybe even once every six months. But take

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that time to go review the accounts and what you'll

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see is you'll see with my kids it every once

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in a while on the way home, one of them

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will ask a question about a fund or a stock

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that we put in their account. You know, your dad, Hey,

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what is that is that stock up recently? You know

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that we bought. And it's just really funny because even

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if they're not interested, once they start seeing valuations change,

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they get more interested.

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Speaker 1: And it's especially when it's attached to their name and

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it belongs to them, and so you know, that's that's

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one thing I hope that a lot of parents, because

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you know, there's going to be some kids that turn

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eighteen and they're like, whoo cash and they just blow it.

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But hopefully there will be a whole bunch of them

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that understand and have been taught, whether it's school parents

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or otherwise, that if they just leave it alone and

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even add to it over the years, they will come

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out millionaires, maybe a couple times over at retirement. And

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that is such a gift.

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Speaker 2: Yeah, it's such a gift. And we'll have to see

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the way it comes out. But what I'm assuming and

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what I have heard, is that the accounts are going

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to work very similar to a roth account. So you'll

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be able to use it to finance education, you'll be

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able to use it for first time home purchases. And

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you don't, look, anybody that's heard me talk realizes that.

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Speaker 3: You know, am I conservative? Of course?

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Speaker 2: Am I one of these people that just rubber stamps

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everything Trump does?

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Speaker 1: No?

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Speaker 2: Okay, but this doing this, in my opinion, is the

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most meaningful thing I have seen a government do to

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both educate citizens and combat inflation over time. This is

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like one of those only things I've seen them do

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where I'm like, this isn't just a band aid, right,

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This will actually help kids deal with these expenses over time.

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This will help teach them about money, right, Like I'm

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I like, I am not a fan of passing out

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two thousand dollars cara of dividends to everybody. Okay, that

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that to me, and this is completely different. Why because

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the minute those checks go out for the tariffs, the

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the advantage it gives you, it is done the day

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they get it, Meaning it's we're just throwing money into

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the into the furnace, right. This is not that, And

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this to me is actually us as a country making

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an investment in our children. And that's something I can

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get behind. And and people are like, but we can't

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afford it. Because we can't afford it means that we

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have to do this because the reason we can't afford

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it is because we mismanaged it. So we need to

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start giving the younger generations that had nothing to do

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with why we're in this mess. We need to start

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building life rafts for them. Yeah, and I think that

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this is the beginning of that process. So I'm fully supportive.

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Speaker 1: I completely agree with you. And I know there's been

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critiques of Michael Dell at Michael and Susan Dell for

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contributing six points, and I'm like, what how I can't

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that blows me away, Like people are like, oh, they're

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taking some tax deduction, so what so to you.

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Speaker 3: Why should they not get an income tax deduction?

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Speaker 2: And you can see the other thing to all you

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morons out there that say this, and I do say, morons,

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he's worth six and a half billion.

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Speaker 3: He doesn't make six and a half billion a year.

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Speaker 2: Okay, the fast majority of that wealth is wrapped up

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in stock, so off, who cares if we're gonna offset

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of guys. And here's why I say that. But when

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you have private giving, we should always give deduction incentives

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because private giving, especially when it's going to private way,

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more money via private charities actually gets to the end

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user than any government department. And anybody saying that this

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is this to me is the crime of politics and

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the tragedy of politics because it creates people opposing anything

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that somebody on the other side does, including a guy

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giving six and a half billion dollars to kids. I mean,

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you know, And this goes to this also goes to

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that whole Trump derangement syndrome. Like you and I have

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joked around before. Yeah, the only way these people wouldn't

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take the vaccine is if Trump put his name on it, right,

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Like you know what I mean? And it's it's just

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nuts all of a sudden, Now we're mad at people

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because they get a tax deduction, Like do you know

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what a tax deduction.

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Speaker 3: Means that means that in the year he takes.

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Speaker 2: That deduction, he doesn't have to pay taxes on six

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and a half billion dollars of income which he didn't make.

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Speaker 3: Right, which he didn't know.

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Speaker 1: I know. It's just it's incredible. It's I guess it's

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now Dell derangement syndrome. It's so so stupid. I know,

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I know, I know, and I'm sorry to have exasperated you,

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but like, I get it. I mean, and I hope

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that the clients that you already have, and like maybe

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new potential clients who maybe are expecting right now, think

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about talking to you about how to manage these Trump accounts.

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It's a good way to get advice from you and

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maybe get a second opinion if they already have a

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financial advisor. So if they want that second opinion, how

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do they reach out?

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Speaker 2: Well, I mean, after we make you the official spokesperson

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and a a a an honor refinancial advisor with our

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firm because they're so you're so good.

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Speaker 3: At the pitch nobody. Yeah, we're easy to find.

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Speaker 2: You can just you can find our content on YouTube

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and Know your Risk podcast. You can go to Bullwarkcapitalmanagement

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dot com. You can google Bullwarkcapital, you can google Know

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your Risk podcast not hard to find, and yeah, give

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us a ring and I think you put it perfect.

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At the very least, we can show you what we do,

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how we do it, what it costs. You can compare

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it to what you have. If you want to go

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further down that road, we'd be happy to. If not,

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hopefully you leave more informed. But we're not going to

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twist your arm. And we're not going to call you

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on Saturday six months from now because you call this

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one time in December.

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Speaker 1: So thank you, Zach, appreciate it as always.

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Speaker 3: Thanks as always. Investment advisory services offered through TREK Financial

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loc and SEC Registered Investment advisor.

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Speaker 2: The opinions expressed in this program er for general informational

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purposes only and are not intended to provide specific advice

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or recommendations for any individual or on any specific security.

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Any references to performance of security so it thought to

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be materially accurate and actual performance may different.

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Speaker 3: Investments involved risk and are not guaranteed.

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Speaker 2: Past performance doesn't guarantee future results. Trek twenty four to

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three zero eight