Jason Hartman and investment counselor Adam begin the show discussing the topic of the graying of America, and what this increasing demographic of people over the age of 80 means to real estate investors. Later in the show Jason hosts guest Daniel Ameduri, co-founder of Future Money Trends newsletter and author of Dont Save For Retirement: A Millennials Guide to Financial Freedom. They talk about how the working environment has changed from the Baby Boomers to Millennials and how the Millennial generation need to change their mindset about retirement in order to not be left behind when they’re ready to leave the rat race.
My wife and I were drawn to you because we liked the idea of
putting money down qualifying, making sure we can cover the mortgage,
you know, and have reserves like you were talking a language that was very appealing, based on what we had gone through
Welcome to the creating wealth show with Jason Hartman. You’re about to learn a new slant on investing some exciting techniques and fresh new approaches to the world’s most historically proven asset class that will enable you to create more wealth and freedom than you ever thought possible. Jason is a genuine self made multi millionaire who’s actually been there and done it. He’s a successful investor, lender, developer and entrepreneur who’s owned properties in 11 states had hundreds of tenants and been involved in thousands of real estate transactions. This program will help you follow in Jason’s footsteps on the road to your financial independence day. You really can do it on now. Here’s your host Jason Hartman with the complete solution for real estate investors.
Jason Hartman 1:06
Welcome to Episode 1307 1307. Thanks for joining us today, we want to talk to you about a new Harvard study on cost burdened senior households, and what that means for us as investors. And then we’ve got a returning guest back on the show. That’s Daniel and Murray, who is actually saying, you should not save for retirement, especially if you’re a millennial. blasphemy. Now, maybe not. I don’t know. We’ll dive into that in a moment. And I’ve got Adam here with me for the intro portion of the show. Adam, did you tell everybody I was lost at sea? No. I said you were stuck at sea with stuck and mostly truthful, it was truthful. I told me you couldn’t land. And by the way, it’s it’s have the Harvard study. Oh, yes. Yes. Yeah. Well, it’s part of our Crews last week. We stopped in Boston. We’re near Harvard. Near Harvard Yard. Well, we could park the car. Is everybody thinking Jason give up the impersonation? Thank goodness. They’re
not listening to a podcast of a guy who actually lives in Boston.
Jason Hartman 2:16
Yeah. Or or, or makes his living based on impersonations.
Daniel Ameduri 2:21
He knows that you’re not gonna make Saturday Night Live anytime soon. Yeah, well, that’s okay with me.
Jason Hartman 2:26
You know, Saturday Night Live when I was a kid. I used to watch that show all the time. That was like the thing that kids did on Saturday night at 11 because we couldn’t go out you know, so we watch the show and it was hilarious. But it is so bad now. I mean, you know, it’s been around for so long, but most of us just junk. I can’t watch it anymore, or did you like it?
Daniel Ameduri 2:50
Oh, I still do it. It’s still fun most the time. may not be perfect all the time, but it never was. Yeah. So did you did you get to run by the Internet life studios while you’re up around New York, no, no,
Jason Hartman 3:02
didn’t spend much time in New York. Whenever I go to or through New York, I actually kind of try not to spend much time there. I think New York is highly overrated and massively overpriced. But we started it and ended our crews in Brooklyn. And you know, it was great to be there for just two days. Basically, I just didn’t want to stay longer. But the cruise was awesome. You know, we went to Boston, and we went to Newport, Rhode Island. Actually, that was our second venture Alliance mastermind trip to Newport, Rhode Island and seeing those mansions Wow. Adam, the
Daniel Ameduri 3:40
that Airbnb is that you’re saying?
Jason Hartman 3:42
Yeah. This is, yeah, this is way beyond Airbnb, you know, the mansions of the vanderbilts and the Rockefellers and the Carnegie’s and the melons and you know, I’m not exactly quoting which which industrialist you With those people, yeah, those types, but one of the great things we did other than Newport, Rhode Island After that we went to Bar Harbor, Maine. And I did not know and had never been there before. Number one, how beautiful it was. And it was just a charming, charming, charming town. And that there were mansions there because I guess as Newport Rhode Island became a big deal, and all of these, the people did their summering in Newport, Rhode Island at their mansions there. They got out of the city, you know, if they were in New York or whatever, Newport Rhode Island became a big deal. And then there was more flight. I guess you could call it white flight as the old expression goes to Bar Harbor, Maine, because Newport was became like the rat race. And I guess some of those people wanted out of that, and they went to Bar Harbor. So they had mansions there too. So yeah, pretty amazing stuff. And then We went to St. JOHN New Brunswick. So we were in Canada, and my dog got to visit her 18th country Canada there. Coco never been to Canada. I know. It’s weird. She’d been to Europe but never Canada. So yeah. So Coco and all the rest of the people on our venture Alliance mastermind cruise got off in Canada. We enjoyed that a little bit. Then we got back on the cruise ship and expected to dock in Halifax The next morning, and the captain made an announcement as this nor’easter storm came in that there were like 50 mile an hour winds and it was unsafe to bring the ship into port. Now, that’s kind of interesting, and it’s a metaphor for life. Number one metaphor for your investing in real estate is the cruise ship. The amazing consistency of the cruise ship is truly incredible. You know, you go to bed. And the chip is not it doesn’t go fast, but it goes consistently. It’s just always moving, you know. And that cumulative effect of that movement just gets you there. That’s what happens with our real estate investments. You know, they don’t go fast. They’re not like an airplane. But they’re just so consistent. They’re always moving forward. They’re always moving forward. And surprisingly, in a few years, you’ve created some great wealth for yourself. So that is one of the great things about income property, and, hey, that’s what we talked about on the show. But the other metaphor of the ship not being able to land the import, because of the high winds, you know, you’d almost think that the ship would be safer in port, but it’s not it’s the opposite. The ship is safer at sea, you know, because that’s what it’s built for. And as investors or is it just as people in life We’re meant number one to move to move our bodies to move forward toward our goals for that next port to move forward not to standstill, and we are safer when we are moving, when we are going forward when we are doing something with our life with our investment portfolio, and some investors or would be investors are crippled by this idea of Well, I don’t know if I should buy that property. I don’t know if I should take the risk. And it turns out Adam, that the riskiest decision many many times is not to act at all not to do anything
Daniel Ameduri 7:45
some that is better is nothing.
Jason Hartman 7:46
Yeah, doing something, just the wisdom of action, even if the action is not perfect, or it is even a bad action because the very very worst, you’re going to learn something from it, you’re going to gain an education, there is wisdom in action alone. So don’t be stuck in the port, get out to sea and get moving and create a life of abundance by getting some good properties. So now, interestingly, this Harvard study, I think, kind of ties in with this idea to this metaphor, because you look at the different demographic cohorts we’re always talking about on the show of the millennials, the seniors, you know, the Gen Xers like me, and you know, the millennials or Gen Y, and now Gen Z coming up through the ranks, but the baby boomers, and even older than baby boomers, they are burdened by some pretty high cost. And a lot of people that find themselves in financial trouble are mostly the ones who didn’t get out of the port. They didn’t go to see they didn’t take action. They didn’t start buying properties in building portfolio or they fell victim to the speculative whims of to use another ship metaphor waiting for their ship to come in. I’ll get off this cruise ship. stuff, I promise, I promise. I promise.
Daniel Ameduri 9:16
You gotta give me some time to decompress from the trip, ladies. Yeah.
Jason Hartman 9:20
But it was it was a great trip. I’m really glad we did it. It was our first cruise trip. And it was just a great time, but gotta get out of that metaphor. But these are the people that didn’t take action many times that didn’t take the risk, or they did the speculative thing. They gambled, rather than doing the long term slow burn, simple, reliable thing. They wanted the instant gratification and that cost them so there’s kind of two sides of that spectrum. And let’s look at number one, the amazing numbers of people in this demographic cohort, Adam, I mean, it’s truly incredible. Right within the next decade, eight teen million adults in the US will be in their 80s. This is the graying of America that we’ve talked about so many times on the show. hugely significant, right?
Daniel Ameduri 10:14
That’s going past gray and into white hair in that regard. But yet, the 18 million people are going to be in their 80s. And the thing that astounded me in this study is they said between 16 and 2016 and 2017, the number of cost burden households went up by 200,000 to a new high of almost 10 million people. And of those 10 million people, just around 5 million of them were severely burdened, which means they pay over half of their income for housing.
Jason Hartman 10:47
Wow, that is number one tragic. It is very sad for these people. But I want to flip that to the side of the investor for a moment. Okay. If you You own a rental property that one of those 5 million severely burden people live in. Just think about that for a second. Okay? They’re spending half of their working life. Half a year, half of every month, half of every week, half of every day, however you want to look at it, working for you, and you don’t even have to employ them. If you are the owner that owns the property, they rent 50% of their life, their productive life is dedicated to paying you. Wow. I mean, what investment does that you know, we look at the most successful company on Earth, Apple Computer. Do you think people spend half of their income, buying and paying for Apple products and services No prices make you try. Yeah, well, I know you’re not an apple fan. But nothing else does this nothing else, no restaurant can say this. No cruise line can say it. No company on earth can say people spend half of their money paying us
Daniel Ameduri 12:16
buying our stuff. And you can retire from work, but you can’t really retire from housing. That’s the beautiful thing. And also, the thing that I was thinking about whenever I read this article, is they talked about how, with the becoming 18 million people in their 80s, the need for affordable accessible housing, an in home supportive services is set to soar and we were talking a little bit before we started recording. And I said a lot of these people are going to get pushed out of the homes they own into rentals, just because the price of construction has gone up so much that if you have to modify your house for your living arrangement, they’re just not going to be able to do it. You know, the cost of the rehab is gonna make them have to look elsewhere.
Jason Hartman 12:57
Right and a lot of them have for example, two story house Is and as they age, they really need to get into single level facility. So, yeah, there’s, well the future of owning real estate is fantastic. No matter what demographic cohort you have is your customer or will have is your customer, your tenant is your customer, your renter, you’ve got a phenomenal, phenomenal thing.
Daniel Ameduri 13:25
Yeah, and this is, and this is an age range that just hasn’t really existed much before. You know, as people start living longer, and so we’re starting to see, you know, they’ve owned their homes longer than usual. And so eventually, the homes that we’ve been waiting for, essentially to come on the market, the areas that affordable housing potentially, is eventually going to come on the market, but we’re talking about people who will be moving out of these homes that can then hopefully be purchased by people like our local market specialists and converted into the inventory that we’re looking for as investors.
Jason Hartman 13:59
Absolutely. All right, we’re going to talk about quite a few things this week on the show, Adam, I know we’re going to do some of it tomorrow and talk more about kind of some really interesting trends that are going on in the in the world of housing and inventory and the flow of people in out of cities into rural areas and air versus urban areas and so forth. So we’ll get to that. But we’ve got to jump to our guests now. By the way, we still got some profits and paradise registrations for this weekend coming in. Those of you who’ve registered late I am sorry to say you will not have a name badge. Well, we’ll give you a little temporary one, but it will not have your name on it because we had to order them last week. But we are looking forward to seeing you this Friday for the property tour. And then this weekend for the conference that follows the tour. It’s just going to be a great time. The event is almost full, we just expanded the seating chart we had to kind of flip the room around to accommodate more seats, but we do have room So go to Jason hartman.com. Right on the front page. You can register for profits in Paradise and the property tour this weekend. That’s in Orlando. We’ll look forward to seeing you there. And that’s Jason Hartman, calm and Adam, you’re ready to go to the guest.
Daniel Ameduri 15:15
Let’s do it.
Jason Hartman 15:20
It’s my pleasure to welcome back a returning guest and that is Daniel amatory. He is co founder of future money trends newsletter, and future money trends calm with nearly 150,000 subscribers. He’s also the best selling author of don’t save for retirement. A millennials guide to financial freedom.
Daniel Ameduri 15:41
Daniel, welcome back. How you doing? I’m doing great. Thanks so much for having me on your show.
Jason Hartman 15:45
You’re coming to us from my old city I lived in for a year and a half Las Vegas today. Right? I share him I’m in Las Vegas hotel. I did not know this but I’m actually staying at the Atlanta which is next to Mandalay and it yesterday was the anniversary of the shoot anniversary our two year anniversary I, I was there at the foundation room and I actually filmed that shooting that terrible, horrific event. I never saw anything like that in my life. Now granted, I saw it from far away, but I still have nightmares about it. It’s just It’s awful.
Daniel Ameduri 16:19
Jason Hartman 16:20
Yeah, it really is. And I tell you, there’s you probably would agree with me on this, although we’ve never talked about it. There’s a lot more to that story than the official version. I guarantee it. I don’t know what the story is. But I know it’s not the official version. I can tell you that.
Daniel Ameduri 16:37
I’m with you on everything. You just said it. I don’t know what the truth is. But I sure as hell know that what they’re telling us is not the
Jason Hartman 16:44
truth there. There is no way this guy and by the way, this is not the subject of this interview. There’s no way that guy acting alone with zero motive. Did that that seems a lot more like a terrorist attack because think about it. It was a Christian concert. Okay, you know, that was just totally suppressed. And it was shocking. It took months and months for them to release footage of him moving all of that equipment, all of those guns, all of that ammunition in through the elevators and all this stuff. And there was hardly any of that footage available could have been anything in those cases, right? That story just there. I smell a rat everywhere you look in that story.
Daniel Ameduri 17:29
Well, and there’s a lot of eyewitness accounts that that saw multiple shooters. They even have the police like scanners, the some of the police were worried about like a helicopter shooting guns, you know, so who knows what the real story is and why they covered it up and why they why they don’t want the public knowing. Who knows maybe maybe it was tied to al Qaeda or something.
Jason Hartman 17:49
Well, I would certainly think it was tied to al Qaeda or ISIS or something like that because it makes sense that number one they to attack a Christian group. And from just being there myself, you know, I cannot say this and I said this on the news I was interviewed a few times after the event. I’m no expert. Okay, that’s my first disclaimer, but it did not sound like a single shooter. It did not sound like that to me. It first I would. I was there with a friend of mine. You know, it sounded like a jackhammer. At first, I didn’t know what it was, you know, it certainly did not sound like a single shooter. But, you know, again, I’m not an expert. So anyway, let’s get on with the subject here. So don’t save for retirement. Now. Daniel. Isn’t that contradicting age old financial wisdom. You know, save for a rainy day, save for your future, be responsible delay gratification, for something bigger for a bigger future for a secure retirement. You’re telling people not to save money Really?
Daniel Ameduri 18:54
Well, it’s not to not save money. It’s just to not use the current cookie cutter. Plan of retirement, which has failed. So you know, this was a people think of this as something that’s always been and they just don’t even question it, they just start saving for retirement. And as if it’s going to all work out perfectly. But the proof is out there. Now the evidence is out there. It’s failed for most people, Vanguard, which has most of these accounts, the median 41 care that 65 and up only has about $55,000 in their account, and that’s the
Jason Hartman 19:27
medium, the medium, not average, that is being you know, skewed a lot. That’s just a middle number, and those are 65 year olds, and that’s not enough money, but boy, it gets a lot worse at the lower end of that spectrum. I’ll tell you that.
Daniel Ameduri 19:40
It sure does. We’ve all seen the polls out there and stuff where people are asked if they can even afford a $500 you know, expense last minute it would crush them if it happens. So, I mean, I just look at everything that about retirement from the results of you know, the baby boomers, let’s face it, they had the best real estate market, best bond market, best stock market. If it didn’t work out for the baby boomers, which are really the first generation of fully embrace, embrace this idea, even though it you know, you can source pensions back to the Romans, you can source like modern day pensions back to the late 1800s. But, you know, even this artificial number of 65. You know, this was 70 years old in Germany, and then a politician was running against somebody and said, Hey, I’ll lower it to 65. And it’s just fascinating when you really look into retirement, and then you kind of just step back and say, Well, wait a minute, what are the rich do? What are the wealthy doing? And they’re always focusing on preservation, which is that Warren Buffett number one, rule number two, don’t lose money. And they’re focusing on income and cash flow, something that you are a huge advocate of and have been teaching thousands of people about making cash flow, buying things that make you money that send a check to you. And that is what don’t save for retirement as about in the book. It’s reconditioning your brain from hoping and praying that your 401k goes up. And this idea of retirement all works out. reconditioning and and focusing on doing the practices of the wealthy, buying income with discipline?
Jason Hartman 21:07
Yeah, well, you know, if you save the disclaimer for this title, obviously, the titles, I’m sure meant to grab attention look at the foundation of an individual and the society in a nation. You know, to build wealth, you must have capital formation, and the core of capital formation is saving. Right. It’s not spending all of your your future right. But, you know, Savers, sadly and so unfairly, they get mistreated. You know, we’ve got now we’re in an era of financial repression, right, which I’m sure you’ve talked about and written about extensively in in your work, where the savers the people who’ve done the quote unquote, right thing are getting punished because they can’t get any yield on their savings without taking, you know, risk that they shouldn’t be taking it their age. That’s number one. One and then number two, you know, inflation will eat them alive. And admittedly I think inflation is fairly low. Now, when you take out asset inflation, asset inflation is extremely high. But, you know, if you just go for consumer price inflation, right, it’s not that bad. Of course, it’s much higher than the official numbers, but it’s not terrible. Either way, though. It’s just going to drain your wealth. It’s a pickpocket, right? It really is. Inflation is as you know, is the worst tax of the mall. And savers in the book again, don’t save for retirement is just don’t say for conventional retirement. Certainly, I’m not saying don’t save I’m a big advocate of saving money. And you can deploy that capital to purchase more income or just to have the money sitting there and and to feel great. Sometimes having a nice cash position is the peace of mind people are looking for. So when it comes to don’t save for retirement, I just, I hate seeing people you know, they get tied up in these 401 K’s or their financial buyers are primarily and these people who I mean these people haven’t even studied the financial markets longer than somebody has, you know, studied to cut hair. That’s a very good point that you make headway. Yes. It’s there’s more education involved in being a hairstylist than a financial advisor most of the time, and they’re not following their own plan, or if they are the certainly haven’t become wealthy following their plan. Right. It’s hypocritical, you know, the stuff that they’re either not doing or haven’t become wealthy from.
Daniel Ameduri 23:31
Well, and that’s the biggest profits in retirement are all these vehicles they’re creating, whether its target date funds, ETFs, indexes, 401, K’s and all their baskets of fees. That’s where the real money is in retirement. It isn’t the actual guy who’s saving for retirement or the individual retail investor. It’s the retirement industry as a business. That’s where the real money is in retirement.
Jason Hartman 23:56
Yeah, well, there’s a difference between the business and the business. Right.
Daniel Ameduri 24:01
Yeah. So my point is, how is your broker investing his money? You know, you look at like, anybody who is giving you financial advice, what are they really doing? are they building a business? are they telling everybody else to invest in trade stocks, but what they’re really doing is actually building a business that teaches people how to do that. So I always try to look at what are the wealthy doing in time and time again, it doesn’t matter if you’re looking at Mark Cuban or Kevin O’Leary or President Trump. If you look at their overall blueprint. It is unlike the middle class. It is unlike the poor and Robert Kiyosaki talks about this, where the poor in middle class they have this urgency to get rich. So they’re constantly speculating. And that’s what everybody’s investing in. When they buy a 401k. Or they just throw money at a stock, they just become speculators. But if you look at what the wealthy are doing, they’re not speculating they’re focused on certainty. You know, when Warren Buffett talks about not losing money, he’s not saying you can avoid volatility. What he’s saying is he’s buying things that look, I’ll give you a great example you want to buy stock you buy, you could buy Disney stock, are you gonna lose money? No. Is there going to protect your volatility? No, there’s plenty going to be plenty of volatility. So when I look at what the middle class has been completely conditioned into doing, which is speculating versus the rich, which is cash flow and preservation, that’s what I was really trying to teach people in, don’t save for retirement. And by the way, the book starts out with my wife and I in a bankruptcy attorney’s office, we blown herself up in 2008. So this isn’t like some story, right? Crazy success. The first half of the book is how my wife and I had to lead a crazy things. We cut our budget, we did things that are considered fairly extreme.
Jason Hartman 25:43
Yeah, yeah. So it reminds me of the famous story from a Random Walk Down Wall Street where you know, everybody’s looking for the good deals. And the market is efficient, in I mean, it’s not perfectly efficient, nothing is but it’s just by the index, right? That’s how you’ll reduce your volatility and create wealth over the time. But better yet get into alternative investments like my favorite income property. But you know, the story of the financial advisor, the stockbroker, who takes his buddy down to the Marina and says, Hey, look at my beautiful new yacht. And that one over there is my friend’s yacht and that’s my other friends yacht. And, you know, these are all people I work with are my buddies that work in other firms, brokerage firms. And then his friend that he’s showing off to says, well, where all the clients yachts, it’s all the people the insiders, it’s an insider’s game. And with alternative investments, like income property, you are the insider, we can all be insiders, because it’s a direct investment and we’re not letting some big brokerage firm, skim all the money off the top right and not just brokerage firm, but the CEOs, the fund managers, the Board of Directors, you know, the ins, all the answers. There’s so many of them in so many directions, right? But that’s really what it’s all about. I’m looking at your table of contents. And I want you to talk a little bit about chapter two, if you would, you know, what did we inherit? And when you look at the different demographic cohorts, each of them kind of inherited a different way. Right? Sure. So take whichever cohort you want. I mean, book is for millennials, but could be you know, really, for anybody in many ways.
Daniel Ameduri 27:27
You know, my message specifically to millennials, which I’m just barely made it in one of the first ones. But it is that this acceptance that somehow the millennials have it harder, somehow that they’re not going to ever make as much money or live the lives and be happy like their parents or their grandparents. I think it’s ridiculous and I think millennials should embrace the freelance economy, embrace the mobility that all this technology has given us. You can start a business for $10 on go to A
Jason Hartman 28:00
lot of them are doing that. I mean, don’t you think that’s pretty widely accepted in the millennial generation,
Daniel Ameduri 28:06
it’s accepted in the millennial generation. However, they keep comparing their lives to what the baby boomers had. But they’re only comparing the negative. They’re not truly appreciating all the great things that we have. They’re just using them and then complaining that they don’t have a pension and they don’t have the 30 year career. And when they graduate college, they can’t find a job. But in the meantime, you’re right. A lot of millennials already have embraced that there is this whole new economy That’s way better, that has people surfing during the day jumping in their car, Uber carrying them around for Uber and people around for three hours, maybe having a night gig or doing freelance work from home. So a lot of the millennials are trying to duplicate what the baby boomers had. And it’s not a goal worth pursuing. If they would just open their eyes in some cases and truly see that hey, forget about it. Trying to have this nine to five job. Why are you chasing this nine to five gig that’s over, that’s in the past, you don’t have to be one company’s employee for 30 years, you can have four or five clients as a freelancer. So that’s really what I was kind of trying to message to millennials in this book was that, hey, forget about all this nonsense how this generation has, it’s so tough and they’re living in their parents basements, like really embrace what you have in front of you. Because we have a very good economy and a lot of opportunities to become entrepreneurs. It’s better than ever
Jason Hartman 29:31
to do that. You’ve got to be disciplined. You’ve got to work hard. You’ve got to keep your promises. And that shouldn’t be considered difficult, but it is for a lot of people sadly. So you talked about that in you know, chapter seven and eight too. But what about investing beyond Wall Street?
Daniel Ameduri 29:49
Well, I would say what you’re teaching people on the income properties is that is always kind of my first place I would I would tell people to go. The first thing you need to do is focus on trying to be Buy a rental property. And if you’re in California, New York, this is the perfect place for you to be. Because you have all sorts of connections to buy properties out of state where they still cash flow. They’re great assets, they’re in a great states, great country, great investments. And that’s kind of the first stop, I tell people just go find a single family home, because that will help you understand business as well because you can be a landlord, and you can treat it like a slumlord, or you can treat it like the Marriott, so the entire experience and I do all this stuff with my children as well, when we buy a home, you know, it is running a business. So first of all, it’s a great learning experience, and it will actually provide you some real cash flow. You know, an ETF is you know, anything on Wall Street, heck, if it’s in a 401k, you can even get it out or you have a 10% penalty. All these vehicles, they’re not really geared towards making you money every month, buying a single family home, or even a private read or, you know, investing in mortgage notes. There’s so many other ways for cash flow outside of Wall Street, but the great thing is, is that’s actually going to be a check that comes to your mailbox or like with my property managers, it gets direct deposit in my account. That’s real money. It’s not money. That’s the money that I can use when I’m 65 years old or seven years old. It’s money that I can actually use to support my lifestyle now, or if I’m smart, and I’m young, grab that money and go buy some more houses and some more income.
Jason Hartman 31:27
Yeah, absolutely. Well, good stuff. What else do you want people to know? You know, you really have a lot of thoughts about the economy. And I just wanted to talk maybe before we close more generally, if we could just thoughts about the economy where things are going, and you know, feel free to relate that to any of the, you know, retirement issues
Daniel Ameduri 31:46
and financial planning issues. First for your listeners, if they go to futuremoneytrends.com slash save, they can read the introductory of the book and the first chapter free and of course, there is a link to Amazon if they’d like to continue and I would love for them to Check that out. If they ever reach out to me, I’m always happy to reply to people. I love going over deals just like I’m sure you do. But you know, on the general economy, I’d say this, and this is probably the biggest thing on everybody’s mind is is, is there going to be a stock market crash or a recession, and you cannot make these predictions and time these things. But one thing I can say is I’ve never read in history or experienced in my own life, where a stock market crash happens when everybody’s telling you a stock market crash gonna happen. And when everybody is excited about it, the potential of the stock market crash and a recession. And you know, I was just on Market Watch calm before that we did this interview, and it’s just like, what’s worse, negative yields or or the other option investors had was a 50%, stock market crash and like, really, there’s an assumption, and anytime you see that the opposite is going to happen. And I would bet because of the inverted yield curve, and negative rates, I would bet that it’s essentially boom time for the next year. I suspect markets to reached crazy levels that the Dow over 30,000, maybe 35,000. The exact opposite of what everybody’s expecting as far as the recession and stock market crash,
Jason Hartman 33:09
hasn’t this market isn’t a little long in the tooth by now. I mean, it’s been going for a while, and I’m sure it got extended by Trump’s election. But, you know, it can’t go forever.
Daniel Ameduri 33:20
They can’t. But you know, the bond market is in its 30th year. So the stock market and the real estate markets only its 10th. Is it a new bull market? Or is it an old bull market? It’s really it’s hard to say I mean, the bond market, it’s been going since 81. So it’s hard to say if it’s long in the tooth, I do know this that, you know, I was looking at some of these inverted yield curve moments in time. And it is true that the last four or five have had a recession after but there have been many more and there’s actually a time period between 19 rC 1879 and 1929 50 years, we had an inverted yield curve on average 70% of the time. So because of the demand for capital and what’s going on in the global economy? With all the central bank’s easing? I think it’s very possible that we actually see a fairly good environment for the next at least 12 months
Jason Hartman 34:10
now. Very interesting. So past the election,
Daniel Ameduri 34:12
I think he’s going to be okay for the economy. I’m not saying Trump’s gonna get elected or not elected, but I don’t think he’s going to be dealing with the recession.
Jason Hartman 34:20
Right. Wow. Yeah. Wow. So so it’ll can the boom times will continue past the election. That was my question, Mark. Yeah.
Daniel Ameduri 34:29
It’ll be interesting to see which which way it goes, because I think there’s trade war with China will most likely be settled up here in the next six months. A lot of people think they’ll go past the election. But I have this weird feeling that China actually likes Trump, because he’s such a disrupter. And for better, for worse, and a lot of people Trump people don’t like hearing this, but I think China sees this as an opportunity for them to make new friendships and new allies was certainly some of the people that the United States is upsetting and this erupting and a lot of old relationships. So I think as a disrupter, you know, it’s like anything else, you know, China’s going to adapt to whatever US policy is and use it as their own tool. And I think, with Trump, he’s a great disrupter. I think he’s doing a lot of good. But at the same point in time, I think for them, it might be an opportunity to make some new friends as the Let’s leave some new friends. China’s
Jason Hartman 35:22
already the number one trader with North Korea, so and they’re certainly not our friend or, you know, I don’t know where I thought they were going in that direction for a while, but apparently not. But we shall see. Well, Daniel, thanks for joining us today. I believe he already gave out your website. So we appreciate that and good luck with the book. It’s an important message that especially millennials need to hear so good luck.
Daniel Ameduri 35:48
Thanks so much, Jason.
Jason Hartman 35:51
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