Speaker 1: You're listenings KFI AM six forty the bill Handle Show
Speaker 1: on demand on the iHeartRadio a F Good morning, everybody.
Speaker 1: Bill Handle. Here on a Monday morning, November twenty five, we.
Speaker 2: Are officially in.
Speaker 1: The Pastathon mode and I would like you to donate
Speaker 1: and help us donate to Pastathon helping Chef Bruno Caterina's
Speaker 1: Club feed five thousand kids a night, I mean something
Speaker 1: completely crazy, and so we've been doing this for fourteen years.
Speaker 1: So we're going to be broadcasting all of us, all
Speaker 1: the day parts on December thirtieth or December third, I'm sorry,
Speaker 1: which is Tuesday, and we're going to be accepting donations pasta,
Speaker 1: sauce money, and please show up there at the Anaheim
Speaker 1: white House on the third, and I'd love to have
Speaker 1: you there also there in the morning, just in the morning,
Speaker 1: I'm going to feed you. They'll be pastries and they'll
Speaker 1: be coffee and juice and arting at six o'clock, real
Speaker 1: jew bagels and shmear and cream cheese.
Speaker 2: So come on down. Love to have you at the
Speaker 2: Anaheim white House.
Speaker 1: You can go to Pasta, you can go to KFIAM
Speaker 1: six to forty dot com, slash pasta fon for all
Speaker 1: kinds of information. Okay, something rather rather interesting that I'll
Speaker 1: bet you didn't know, and how counterintuitive this is. California
Speaker 1: is making so much solar energy that the large commercial
Speaker 1: operators and farms are forced to stop production many days
Speaker 1: during the year, raising all kinds of questions. Because we,
Speaker 1: the state of California, have a plan to shift entirely
Speaker 1: to carbon free sources of electricity, and what's the number one.
Speaker 2: Of carbon free source solar energy?
Speaker 1: But wait a minute, we have so much solar energy
Speaker 1: that on well, according to study out of Berkeley, half
Speaker 1: the days, we've got too much power in estate from
Speaker 1: solar energy. So what's that about? Well, let me give
Speaker 1: you some facts and figures. In the last twelve months,
Speaker 1: the solar farms have curtail production of more than three
Speaker 1: million megawatts hours of solar energy, basically enough to power
Speaker 1: half a million homes for a year.
Speaker 2: More than that, and what do they do with it all?
Speaker 1: And by the way, this amount has doubled since twenty
Speaker 1: twenty one, eight times from twenty seventeen. I mean, we're
Speaker 1: building solar like crazy, especially solar panels. I bought my house, right,
Speaker 1: you know, my new place. After I got rid of
Speaker 1: the Persian Palace. One of the first things I did
Speaker 1: to put in a solar system, and I had one
Speaker 1: at the Persian Palace because I have the joys now
Speaker 1: of living in the most expensive utility in the United States.
Speaker 2: You bet you, I have solar. It's gotten now. You
Speaker 2: used to be able to sell solar back.
Speaker 1: That was the tear system that has been establish the
Speaker 1: net revenue system, which you can't deal with anymore, because
Speaker 1: it used the utilities used to pay for excess power
Speaker 1: that was generated during the day. During the day, if
Speaker 1: you have.
Speaker 2: A solar panel, if you have solar panels.
Speaker 1: You're generating generally more than you use. I certainly have.
Speaker 1: So what I used to do is sell it back.
Speaker 1: They took it back and I didn't actually do anything.
Speaker 1: I mean, the system does that, and now that's done
Speaker 1: because there's too much solar energy. And at night when
Speaker 1: there is no solar energy, now we have battery power
Speaker 1: which only lasts four to five hours.
Speaker 2: But I'm on the grid at night. Well, it's so expensive.
Speaker 1: I'm putting in batteries and so is everybody else with
Speaker 1: a new system. So we just have more power than
Speaker 1: we know what to do with and the waste that
Speaker 1: we have, the amount of energy that we don't use.
Speaker 1: The waste would be even larger if California did not
Speaker 1: pay other utilities to pick up their ex solar power. Now,
Speaker 1: we used to sell power to other utilities, and now
Speaker 1: the cost is so low and we are producing so
Speaker 1: much power based on these solar systems that we are
Speaker 1: actually paying other utilities to take the power. I mean,
Speaker 1: that is completely crazy. By the way the grid officials
Speaker 1: worn back in twenty seventeen, when curtailments were still happening,
Speaker 1: when power operators saying we can't take any more power,
Speaker 1: we can't produce any more power, especially on hot days.
Speaker 1: You know, out of UC Berkeley, I said on Sundays,
Speaker 1: more than half of the power goes to waste. They
Speaker 1: just throw it away, they give it away, they take,
Speaker 1: give it to other power companies and pay them to
Speaker 1: do it. And that also means that it's costing us
Speaker 1: more because we are producing more. I mean, there is
Speaker 1: cost in terms of putting in a solar system, commercial
Speaker 1: solar s systems, and that is what is that's the
Speaker 1: basis of them going to the PUC and saying we
Speaker 1: need more money from the consumer. That's why we are
Speaker 1: paying so much, and we have so much energy that's
Speaker 1: going to waste, that's being sold to other utilities or
Speaker 1: being or paying other utilities to take the power.
Speaker 2: I mean, it is cray z.
Speaker 1: And according to Gavin Newsom, and we're going way back,
Speaker 1: California has to be nett net energy, no more emissions,
Speaker 1: fossil fuel emissions by twenty thirty five. And you know what,
Speaker 1: the number one way we can do this, the easiest,
Speaker 1: the cheapest way to produce zero emissions.
Speaker 2: Is through solar power.
Speaker 1: So using solar power, we're going to be able to
Speaker 1: hit by twenty thirty five. We're going to be able
Speaker 1: to hit that level no fossil fuel emissions producing power.
Speaker 1: But wait a minute, right now, we have too much
Speaker 1: and we haven't hit we haven't hit that level yet,
Speaker 1: So how are we going to get there using more
Speaker 1: solar power? When we have too much solar power that
Speaker 1: has to be given away or paid for.
Speaker 2: To have other utilities do this?
Speaker 1: Arizona, they get sixty nine million dollars a year in
Speaker 1: savings or we pay them.
Speaker 2: I mean, it is completely crazy.
Speaker 1: We have too much solar. Other states are getting the
Speaker 1: benefit I'm still paying insane rates for power, which is
Speaker 1: why I have solar, so therefore I'm not using it.
Speaker 1: And then I found something. As you know, I have
Speaker 1: an EV I have an electric vehicle. And so here's
Speaker 1: what I learned, especially now that I'm living in high
Speaker 1: end utility land, is I charge it during the day.
Speaker 2: That's it.
Speaker 1: I don't try to use anything at night because all
Speaker 1: of us are on the grid at night. So it
Speaker 1: has it has been reversed. Now, remember when you were
Speaker 1: told use run your appliances at night, not during the day.
Speaker 1: Now it's run your appliances during the day and not
Speaker 1: at night because energy costs are so expensive and we
Speaker 1: have too much of it and you're paying a fortune.
Speaker 1: I looked at my bill before I switched over to
Speaker 1: daytime charging.
Speaker 2: I go, how is this possible? This is crazy? This
Speaker 2: is half a mortgage payment. It's a weird Where do
Speaker 2: we live in? I want to move over to earthquakes
Speaker 2: Southern California.
Speaker 1: We're hitting a seismically active this year, more so than
Speaker 1: in decades. And we still have a ton of those
Speaker 1: buildings that are called soft story apartment buildings, a ton
Speaker 1: of those, and those are the ones that have carports
Speaker 1: underneath them, and they have those poles that hold up
Speaker 1: the building where the car ports where you part the car.
Speaker 2: And you know, they're old, really old, and they're.
Speaker 1: Not particularly safe. And guess what happens in a major earthquake, Well,
Speaker 1: they can collapse because they're not really strong. Have you
Speaker 1: seen on the Hollywood Hills where you see those houses
Speaker 1: where the poles go down thirty feet and it's maybe
Speaker 1: a pole six inches in diameter and it's holding up
Speaker 1: the house. You know, look at that, you go, earthquake comes,
Speaker 1: they snap. Well, they haven't snapped, but there are some
Speaker 1: that have. Nineteen ninety four earthquake, the on oh my god,
Speaker 1: Northridge quake, and my parents lived right on Partheni in
Speaker 1: the middle of it at the time, and there was
Speaker 1: a building I think in receieda a soft a soft building,
Speaker 1: soft story apartment building that pancaked. Sixteen people died, literally
Speaker 1: the whole it all came right down.
Speaker 2: And sixteen people in there were crushed.
Speaker 1: And since then cities have said, Okay, we have to retrofit,
Speaker 1: we have to make these buildings safer. Now.
Speaker 2: Is it easy to do.
Speaker 1: Well, it's expensive to do because you put in a
Speaker 1: much more robust in terms of the posts that hold
Speaker 1: the building up. And then the walls have to be
Speaker 1: retrofitted and they have to be stronger. I mean I
Speaker 1: did that when I bought a house in Hancock Park
Speaker 1: adjacent I had a duplex there and I had to
Speaker 1: retrofit the whole thing. I had to pull, I had
Speaker 1: to put new, I had to put. What did I do?
Speaker 1: I'm trying to remember what I did. Bolts into the
Speaker 1: foundation and shore up the walls, and it cost me
Speaker 1: a fortune. And therein lies the problem, and that is
Speaker 1: what does a build building owner do? Because some cities
Speaker 1: are said, you have to do it. There's laws on
Speaker 1: the books. La has a law on the book. San
Speaker 1: Francisco has a law on the books that you have
Speaker 1: X number of years and that time is here that
Speaker 1: those soft story buildings have to be retrofitted because in
Speaker 1: a big quake they go down and people die.
Speaker 2: Loma Prieta quake.
Speaker 1: If I'm not remembering, if I'm remembering what it was called, Yeah,
Speaker 1: Loma Prieta nineteen eighty nine, the ground four floor of
Speaker 1: several apartment buildings.
Speaker 2: In San Francisco crumbled and people died.
Speaker 1: So there are cities where they say no, thank you,
Speaker 1: We're not going to deal with it at all. Alhambra,
Speaker 1: Monterey Park, South Pasadena no plans to retrofit those apartment buildings.
Speaker 1: Los Angeles, plenty of plans. Beverly Hill, big plans. Matter
Speaker 1: of fact, Beverly Hills has two hundred and twenty nine
Speaker 1: of these soft story buildings and only forty two of them.
Speaker 2: Have not been retrofitted. I mean, they're going balls to
Speaker 2: the walls. LA.
Speaker 1: We made big progress in the city of Los Angeles,
Speaker 1: where I don't live anymore, and LA has more than
Speaker 1: nine thousand out of twelve thousand of these apartment buildings
Speaker 1: have been retrofitted, and officials experts have known for generations
Speaker 1: about this structural flaw. I mean they know it, they
Speaker 1: see it. You know, we know a fair amount about earthquakes.
Speaker 1: The big issue about earthquakes is figure out when they're happening.
Speaker 1: They can figure out how deep they are, they can
Speaker 1: figure out how long they last was fairly easy. They
Speaker 1: can figure out how much the earth moves, and it's
Speaker 1: not hard than to extrapolate how much damage there is
Speaker 1: going to be. I mean, the information is there, So
Speaker 1: what are they going to do? Well?
Speaker 2: Here's the big problem.
Speaker 1: I don't think anybody's against retro fitting. You want a
Speaker 1: safe apartment building, and these apartment buildings are among the
Speaker 1: least expensive to rent. These are very old, and they're
Speaker 1: on these posts with the car ports. They're not garages.
Speaker 1: I mean, you've seen these all over town and they
Speaker 1: are the least about there. And this is where people
Speaker 1: who don't have a lot of money live. So what
Speaker 1: does the building owner do? Well, the law says that
Speaker 1: the owner has to retro fit. What does it cost
Speaker 1: to retro fit a typical building, a soft story building,
Speaker 1: well from a low of eighty thousand to one hundred
Speaker 1: and sixty thousand dollars. How does a mom and pop organization,
Speaker 1: small company, a couple that have two or three or
Speaker 1: one up our small apartment building and they rely on
Speaker 1: that for their income, how do they come up with
Speaker 1: eighty thousand dollars? And that's exactly what the Apartment Association
Speaker 1: of Greater Los Angeles says. These mandatory retrofits are brutally
Speaker 1: expensive and they get forced mom and pop owners to
Speaker 1: sell their properties. Now, on the other side of it
Speaker 1: is saying, hey, you're responsible for putting on new roofs
Speaker 1: when you need to. If there's a leak, you have
Speaker 1: to repair it. If there's an issue as to heating,
Speaker 1: you have to repair it. If there is an issue
Speaker 1: as to plumbing problems and pipes bursting, you have to
Speaker 1: repair it. It's the cost of doing business as an owner.
Speaker 1: And so is this, well, there's a contradiction. How do
Speaker 1: you deal with this? Right, it's either a worse or
Speaker 1: worser situation. You're damned if you do, You're damned if
Speaker 1: you don't.
Speaker 2: So does that mean.
Speaker 1: That the only owners of these buildings have to be
Speaker 1: the big players who then have the money to retro fit,
Speaker 1: who then have the money and they jack up prices
Speaker 1: like crazy after a retro fit because they put X
Speaker 1: number of dollars in and the law actually allows the
Speaker 1: owners to take money out to charge extra for that.
Speaker 2: I mean, there's no easy answer here. There really isn't.
Speaker 1: But I will tell you that retro fitting, and I've
Speaker 1: done this is no fun. You know, the house that
Speaker 1: I had, the duplex that I had when they built
Speaker 1: that place nineteen twenty seven, is when the place was
Speaker 1: built beautiful. The home was not even attached to the foundation.
Speaker 1: It literally just sat on the foundation. These were raised foundations,
Speaker 1: they weren't slab, and if there was an earthquake where
Speaker 1: it just slipped the foot, property's gone, totally gone.
Speaker 2: It's totaled. Can't live in it, which is why I
Speaker 2: had to.
Speaker 1: Bolt down, and I mean put in bolts that were
Speaker 1: a foot and a half by an inch a foot
Speaker 1: and a half tall by an inch and a half
Speaker 1: in diameter, straight down through the foundations and really bolt
Speaker 1: this down and had to fix and shore up all
Speaker 1: these cripple walls by adding a ton more shoring.
Speaker 2: And it was thousands and thousands of.
Speaker 1: Dollars, and there were people in my neighborhood that couldn't
Speaker 1: afford it.
Speaker 2: They had to sell the property. No easy answer here,
Speaker 2: none at all. I just want to make you feel better.
Speaker 1: You know, either you're gonna lose your property, or you're
Speaker 1: gonna go bankrupt, or you're gonna die, or maybe all
Speaker 1: three that works too. A story I want to share
Speaker 1: with you, and this comes out of Wall Street Journal,
Speaker 1: and this is right up my alley. Because first of all,
Speaker 1: you know, you know, I loved talking about money, and
Speaker 1: I love talking about economics, and I love talking about
Speaker 1: and just how we live and how it's changed. So
Speaker 1: one of the milestones of being adult.
Speaker 2: An adult is, if you're lucky, you.
Speaker 1: Can buy a house, although those days are much more
Speaker 1: limited than they used to be. And getting married, well,
Speaker 1: what's new now, Well, couples decide not to marry at all.
Speaker 1: A lot of those others say they're willing to delay
Speaker 1: a wedding.
Speaker 2: That happened to me.
Speaker 1: I didn't get married till I was thirty six, mainly
Speaker 1: because it took me a very long time to get
Speaker 1: anybody who say yes to me. And in reality, buying
Speaker 1: a home is actually more of a commitment than getting married.
Speaker 1: Getting married is fairly easy. And we talk about commitment.
Speaker 1: You know, I love you, I love you forever, you know,
Speaker 1: the saying, you know, all the vows that people come up.
Speaker 2: With, you know, the crap you do.
Speaker 1: You know, I found you know, you know, I love
Speaker 1: your my soulmate. Okay, yeah, day yeah, y dah. Now
Speaker 1: let's go eat. That's your typical marriage, sitting down and
Speaker 1: buying a house. Yes, that's serious stuff. And that is
Speaker 1: what's going on right now. People are waiting a lot
Speaker 1: of it because they're just waiting. Because you get married older,
Speaker 1: you just don't want to deal with it. And how
Speaker 1: about this, you can't afford it when you're younger. Unmarried couples,
Speaker 1: let's start with marriage. In general, unmarried couples amount to
Speaker 1: more than eleven percent of all US home sales. Over
Speaker 1: fifty percent of kids that are born today are born
Speaker 1: to unmarried parents. I mean, I'm such I grew up
Speaker 1: such a conservative. The thought of having a kid outside
Speaker 1: of wedlock was anethma.
Speaker 2: How do you do that?
Speaker 1: It never even occurred to me that those are only
Speaker 1: bad people that did that. Today there are more of
Speaker 1: bad people than there are of what I perceived as
Speaker 1: good people getting married or having kids.
Speaker 2: Out of wedlock.
Speaker 1: And people that are out of wedlock having kids, they're
Speaker 1: out of wedlock, they're not married. And so the number
Speaker 1: of people that are buying together and not married has skyrocketed.
Speaker 1: So here's what couples have to look at the risk
Speaker 1: the running relationship could blow up, something could happen to
Speaker 1: one partner, and without that marriage certificate, living situations and
Speaker 1: finances are more likely to fall into limbo. One of
Speaker 1: the things, people that are married stay together more often
Speaker 1: than people just live together, and it's more complicated when
Speaker 1: you buy a house, because if you're looking at two
Speaker 1: incomes and all of a sudden you break up, it
Speaker 1: gets to be a mess. So couples are looking at
Speaker 1: the purchase of a house much more.
Speaker 2: Seriously than even getting married. Getting married doesn't mean anything anymore.
Speaker 2: We're very little.
Speaker 1: So couples that even are getting married first look at
Speaker 1: the house, and a lot of these couples ask for
Speaker 1: down payments for help financially in lieu of traditional wedding gifts. Now,
Speaker 1: I always told my daughters that I would help them
Speaker 1: with their down payment on their.
Speaker 2: House when they wanted to buy something.
Speaker 1: The cost of housing is so expensive, mortgages are so expensive.
Speaker 1: I'm getting the credit for helping them, and I never
Speaker 1: will have to help them. This is the elevator philosophy
Speaker 1: of life that I have told you many times.
Speaker 2: You're in an elevator by yourself.
Speaker 1: Someone is running to you as the doors close, and
Speaker 1: you start pounding on the panel with your finger so
Speaker 1: they can see that. And of course you don't actually
Speaker 1: press the elevator door open.
Speaker 2: Of course that's out of the question. So here's what happens.
Speaker 1: The door closes and you get credit for trying to
Speaker 1: keep the door open, which you never have, so you
Speaker 1: get all the benefits and not only closing the door
Speaker 1: in their faces, but getting credit for being a good guy.
Speaker 1: That is what I'm doing with a mortgage with my children.
Speaker 1: Of course I will help you. I have the money
Speaker 1: set aside, knowing there is no chance they will ever
Speaker 1: qualify for a mortgage, so I'll never have to worry
Speaker 1: about coughing up the money, which means that the money
Speaker 1: that I have saved is going for.
Speaker 2: Vacations for me. Thank you.
Speaker 1: It is a real thing with people looking at their finances. Also,
Speaker 1: the cost of weddings have gotten insane. I just threw
Speaker 1: a little wedding for my daughter who wanted a wedding
Speaker 1: and she wanted the traditional going down the aisle dance
Speaker 1: with their dad, you know, get dressed up with it
Speaker 1: at the Anaheim White House, which is spectacular, and Bruno
Speaker 1: put that together, actually Silvano the general manager there, and
Speaker 1: it was absolutely lovely. I told my daughter, this is it.
Speaker 1: You will never have a birthday present again. You will
Speaker 1: never have an anniversary adversary present, you will never have
Speaker 1: a holiday president that present. This just did it for
Speaker 1: the rest of your life. I mean, it is completely insane.
Speaker 1: I'm not a big fan of weddings. I'm hoping my
Speaker 1: other daughter. What I'm going to offer her is tell
Speaker 1: you what the money that I spent for your sister,
Speaker 1: I'll cut that in half and write you the check.
Speaker 2: Okay, I'll start negotiating with her. Now do you.
Speaker 1: Want the money or do you want the marriage? Which
Speaker 1: door do you want? Door number one? Door number two?
Speaker 1: And I think she's smart enough to say, you know what, Dad,
Speaker 1: I'm going to get married in law. I'm going to Elope,
Speaker 1: go to Las Vegas and have an Elvis impersonator marry me.
Speaker 2: Now there's a problem there, and you know what that
Speaker 2: problem is.
Speaker 1: There are no more Elvis impersonators in Las Vegas marrying
Speaker 1: people because the Elvis estate has put a stop to
Speaker 1: all of that. Has destroyed the Las Vegas marriage business.
Speaker 2: It really has.
Speaker 1: By the way, that's just an aside, which you know,
Speaker 1: what does that have to do with the story?
Speaker 2: Absolutely nothing. But then again, hey, welcome to the Handle
Speaker 2: show in the morning. Okay, we're done. I think we're
Speaker 2: done with that one. Okay.
Speaker 1: Now I love talking about this so security because so
Speaker 1: security is one of those issues that when it first
Speaker 1: came out in the middle of the depression and FDR
Speaker 1: puts social security into effect. The fight over social security
Speaker 1: was extraordinary. The conservatives, the Republicans in Congress went nuts.
Speaker 2: This is socialism and it is how do we do that?
Speaker 1: Well?
Speaker 2: Today it's the third rail.
Speaker 1: Can you imagine can you imagine a politician running we
Speaker 1: have to get rid of of social security? Try that
Speaker 1: one on for size and so security and it's a
Speaker 1: different way of looking at it. People that are our age,
Speaker 1: baby boomers and millennials, security is a given.
Speaker 2: We're gonna get our social security.
Speaker 1: We're a little upset that instead of sixty five, we
Speaker 1: now retire at sixty seven. All right, that's no fun
Speaker 1: working two years longer before retirement kicks in full retirement.
Speaker 2: But we know we're gonna get it.
Speaker 1: We know we're going to get our adjusted so security
Speaker 1: check every year for inflation.
Speaker 2: Except that the Social Security.
Speaker 1: Fund is running out of money and they figure it's
Speaker 1: going to go broke by twenty thirty five.
Speaker 2: We've done this before, Well it's going to go broke.
Speaker 1: So they are only three ways of dealing with SoC
Speaker 1: security so it doesn't go broke.
Speaker 2: It's only three.
Speaker 1: One is to increase social Security taxes. It used to
Speaker 1: be pennies. Yes, now I mean it is a chunk
Speaker 1: of money.
Speaker 2: Okay.
Speaker 1: So one is raising your so scurity taxes. The other
Speaker 1: one is retiring even further on, which makes a lot
Speaker 1: of sense because so Security when it was created, you
Speaker 1: retired at sixty five, okay, and you died at sixty six.
Speaker 1: People didn't live past sixty five. Today people live forever.
Speaker 1: My mother lived till she was ninety eight years old.
Speaker 2: She retired early.
Speaker 1: On Social Security because she decided she was going to
Speaker 1: pull her Social Security, so she retires at sixty two,
Speaker 1: which you can do. So it was sixty to thirty
Speaker 1: four years. Thirty six years of her monthly check. That
Speaker 1: cost us me, cost you a fortune, and she didn't
Speaker 1: even have the good grace to die a few years
Speaker 1: earlier to help us out. I asked her, I go, mom,
Speaker 1: do us a favor. Okay, you're costing me a fortune,
Speaker 1: die already.
Speaker 2: Nope.
Speaker 1: By the way, she literally she should have lasted until
Speaker 1: she was about ninety three medically, but she lasted until
Speaker 1: she was ninety eight just to screw with me. And
Speaker 1: she did a brilliant job, I might add, all right,
Speaker 1: So cut those security taxes, or retire at a later age,
Speaker 1: or decreased benefits, one of those three or any one
Speaker 1: of those is going to help. And the problem is
Speaker 1: people now and it's sort of a realistic view for us.
Speaker 1: The thought of Social Security benefits being cut is an
Speaker 1: ethma to people that are moving up, realize, you know
Speaker 1: what you can't rely on, soise security. Although the amount
Speaker 1: of money that people are saving for their retirement keeps
Speaker 1: on decreasing. And this is ten pounds and a five
Speaker 1: pound back.
Speaker 2: Because if the.
Speaker 1: Benefits are going to decrease, which are probably not, if
Speaker 1: the retirement age is going to go far longer, which
Speaker 1: I think it is, something's going to give and people
Speaker 1: don't think of what they need to retire. Just to
Speaker 1: give you an idea, okay of retirement and what you need.
Speaker 1: If you're getting a normal return on investments, you are
Speaker 1: now making fifty thousand dollars a year, Let's say you're
Speaker 1: making seventy five thousand dollars a year, and your Social
Speaker 1: Security then kicks in when you're retire. And let's say
Speaker 1: a really good retirement, let's say reasonable retirements three grand
Speaker 1: a month if you've been working your whole life and
Speaker 1: have gotten you know, a reasonable living. So let's call
Speaker 1: it three thousand, let's call it twenty five hundred dollars
Speaker 1: a month. Social Security checks, well, that's thirty thousand dollars.
Speaker 1: So now you have to make up forty five thousand
Speaker 1: dollars to make up to live on the same level
Speaker 1: as seventy five thousand. You have to have a million
Speaker 1: dollars in the bank or investments, kicking off enough percentage
Speaker 1: four and a half, five and a half percent to
Speaker 1: where you can still keep that amount in the bank
Speaker 1: throwing off investment dollars, throwing off income, and even that
Speaker 1: is going to get swept away by inflation. You do
Speaker 1: that for twenty years and you're gonna be able to
Speaker 1: buy one bucket of KFC with your money.
Speaker 2: But you have to start at a million dollars in
Speaker 2: the bank. Yeah, who has that?
Speaker 1: Not too many people, Not too many people. So we
Speaker 1: have a very skewed look at social security. Which is
Speaker 1: why one of the businesses that really good growing business
Speaker 1: is you buy old dumpsters. You clean them, I mean
Speaker 1: you really have to scrub them out, you know, so
Speaker 1: they're really clean.
Speaker 2: You put in some.
Speaker 1: Piping and they're you have housing for so scary recipients.
Speaker 2: Welcome to the world. How I made you feel better?
Speaker 2: Because I really work on that a lot.
Speaker 1: Okay, KF I am six forty Live everywhere on the
Speaker 1: iHeartRadio app.
Speaker 2: You've been listening to the Bill Handle Show.
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