July 15 , 2022

1^st SEGMENT

Station Call-in #:  951-922-3532

Welcome to The Educated Retirement Radio here on KMET, 1490 AM and 98.1 FM, where we contemplate retirement and how to best prepare for retirement and how to best stay successfully retired.  We have a GREAT guest today in

Absolutely meet your retirement needs; top off your tank so you can make it all the way. 

Remember that:

THE FUTURE IS NOW,

Why; because KNOWLEDGE IS POWER and our phone number is 866-955-2233.

The website for this show and everything about retirement finance including the HECM is:

1. TheEducatedRetirement.com
2. DrHecm.com

Once there you will see many, many great articles and stories about the HECM and how it works.  Some from me and some from very highly regarded people in the financial field.  There is also a BLOG that covers what many people have to say about this and so many other subjects.  Scroll down about half way on the front page and you will see a link to watch this show live or after the fact, as well as all others shows from KMET.  There is also a link to my YouTube station where you can watch every show or catch-up with any of our important guests.

Speaking of other shows here on KMET, we need to give a shout-out to

“Let Grandpa Speak” whose show is here every Saturday morning at 9:00 A.M.  It is the best way to start your weekend with a good and happy mood.  He was nominated for 5 Emmys and won 3!  He is also a real master at BBQ Beef Ribs.

1. Don’t forget The West Coast Business Review with Daryl McCance.  (Who is a real master at eating BBQ ribs, and everything else.)  He is actually a repeat offender on this show from time to time.  He is on every Wednesday at 4:00 PM.  They always give a “plug” for this show by saying that I am a part of his advisory board along with Bill Morris of UCI, who has also been a guest on this show. 
2. And do not forget Ron Segal’s Home and Finance show here on KMET Monday through Friday at 6:00 P.M. I am on his show every month; again talking about finance.

Knowledge is Power!

When does your home loan become an asset?

Day Job

The Loan Source

NMLS:  384565 / DRE:  792630

Today is July 15th:

1. July is National Ice Cream Month
   1. The average American eats roughly 4 gallons of ice cream a year.  Most ice cream companies are family owned and in operation for more than 50 years.  In 2021 ice cream makers in the U.S. churned out more than 1.3 billion gallons of ice cream!
   2. Did you know?
      1. *It takes 12 pounds of milk to produce just one gallon of ice cream.
      2. *The countries that consume the most ice cream is the U.S. followed by Australia, then Norway.

• *The most popular flavor is vanilla, 2nd is chocolate.

1. Here are some unusual flavors of ice cream: Olive Oil, Candied Bacon, Watermelon Basil, Cherry Coke, Chicken Fried Steak, and Viper (Asian…made with snake meat).

2. World Snake Day…July 16
   1. This is a time to acknowledge these sneaky, slimy, and sometimes very dangerous, venomous creatures. It is understandable that people may fear an animal that can easily kill them.  Snakes can range from friendly to deadly, and, they deserve for people to find out more about them.
   2. Out of the 3,500 species of snakes around the world there are only around 600 that are venomous. Only 200 of those pose a considerable risk to human life.  Therefore, snakes are nowhere near as worrying or scary as we think they are.  The actual “snake in the grass” is just a slithery soul wanting to live it’s life and prosper.
   3. Snakes are found in every continent except Antarctica. They eat insects, small rodents and frogs. Some very large snakes can even eat small deer, pigs, and monkeys.
   4. Their numbers are declining due to deforestation and climate change. The smallest snake is the Barbados Thread Snake at approximately four inches. The heaviest is the Green Anaconda at around 1,100 pounds and over 12 inches in diameter.  The Python is the longest which may reach a length of 26 feet.
   5. Here’s a “Snake Day” movie for you, a made for tv film “Piranha-conda” (yes, you guessed it!! Half piranha and half anaconda, it was the sequel to the horror thriller “Sharktopus”.
3. National Fresh Spinach Day…July 16
   1. Spinach is a superfood and known to reduce the risk of heart disease, stroke and osteoporosis. It also helps build muscle and may help slow cognitive decline.  It is high in iron and is a good source of protein and calcium and high in vitamins, low in calories and carbohydrates.  Whatever you do if you eat spinach today don’t eat it canned or frozen…eat it fresh.
   2. However, there is one person who eats spinach only from the can and that’s “Popeye the Sailorman”. When Popeye was created in 1929 for comic strips, studio executives recommended he eat an always-handy can of spinach for his strength. Crystal City, Texas has a statue of Popeye as it is the “Spinach Capital of the World”,  it also holds a Spinach Festival in November.

And then another view of this same situation, retire in 1962 with a million dollars, I spend that 3.95% every year for the next 33 years. And I end up with zero at the end of 1995. Now what we're looking at here is what if I skipped one distribution, and took the other 32 distributions. Now the years I skipped are not selected randomly in this example there. It's when there's a significant downturn to the portfolio. I'll skip the distribution the following year. So 1969 1973 and 1974. Were bad years for this portfolio. So then if I skipped the distribution in the subsequent year, to help leave the portfolio alone, give it a chance to get a better chance to recover. Then rather than ending up at zero, I still have about $750,000 left in two of those cases. And you know about 800,000 somewhere right in that range in one of those cases. Now then again, this is before we add in the reverse mortgage, but the intuition is, you want to just simply skip a year of spending, you could source that to the reverse mortgage. And then by doing that you help to preserve the investment portfolio such that if the cost of the reverse mortgage is less than the gain to the portfolio, you'll again have a better net outcome. And so later, when we do see those better net outcomes, this is the intuition for why that can happen. It's because the benefit to the portfolio is greater than the cost of the reverse mortgage. And a just highlight that if we had a line of credit that could allow us to have three years worth of spending from the reverse mortgage, so that we could skip all three of those down years after. After downturns, then rather than ending up at zero, I'd have $2.25 million left in the portfolio.  I would have a better outcome after paying off that relative to not having that as an option at all.

NASA Nelly – 

Famous People’s Birthdays:

1. Linda Ronstadt…July 15, 1946 (75 yrs)
   1. Linda Maria Ronstadt is a retired American singer who performed rock, country, light opera and Latin.
   2. Linda was born in Tucson, AZ to her father (a prosperous machinery merchant) and her mother, a homemaker. She was raised on the family’s 10 acre ranch. The family was featured in Family Circle Magazine in 1953.  Linda’s maternal grandfather was an inventor holding nearly 700 patents including an early form of the electric toaster, the first electric stove and early form of the microwave oven. His flexible ice cube tray earned him millions of dollars in royalties.
   3. Linda’s early family life was filled with music and tradition. She grew up with many types of music including Mexican music which was sung by her entire family.  She credits her mother for her appreciation of the music of “Gilbert and Sullivan” and to her father for introducing her to traditional pop.  Linda said that she learned more about singing rock and roll from listening to opera star Maria Callas’ records than she ever would from listening to pop music.
   4. She at 14 formed a folk trio with her brother and sister. They played coffeehouses, and other small venues calling themselves “The Union City Ramblers”.  At 18 she decided to move to Los Angeles. 
   5. In the summer of 66’ she recorded as part of the the band ‘Stone Poneys’. Their biggest hit was “Different Drum” written by Michael Nesmith prior to him joining The Monkees.  Not long after she went solo.
   6. By the end of the 70’s she was one of ‘rock and pops’ most successful solo female acts. And she was the first woman to sell out concerts in arenas and stadiums hosting tens of thousands of fans.
   7. In 2013 she was diagnosed with Parkinson’s disease. It left her unable to sing due to loss of muscular control.  The diagnosis was revised in 2019 to be Progressive Supranuclear Palsy.
   8. Linda Ronstadt has won 11 Grammy Awards, an Emmy Award, and 3 American Music Awards, to name a few. She was given a Grammy Lifetime Achievement Award, inducted into the Rock and Roll Hall of Fame and the Kennedy Center Honors in 2019 for lifetime artistic achievements.

First Break

3:30 P.M.

Section II:  Guest time

Our guests always appreciate your call-ins to join the conversation at:  951-922-3532

Hour 2:

Day Job

The Loan Source

NMLS:  384565 / DRE:  792630

2. Donald Sutherland…July 17, 1935 (86 yrs)
   1. Donald is a Canadian actor whose film career spans more than 55 years. It is said that he “gives service with a sneer, no one plays a villain quite like Donald Sutherland”…he says “you have to remember that bad guys are people too”.
   2. Donald McNichol Sutherland was born in Saint John, New Brunswick. His father worked in sales and ran the local gas, electricity and bus company.  As a child he had rheumatic fever, hepatitis and polio.  He obtained his first part-time job at the age of 14 as a news correspondent for a local radio station.
   3. He graduated from High School, attended the University of Toronto and became an engineer, left Canada for Britain and studied at the London Academy of Music and Dramatic Art.
   4. He began to gain small roles in British Film and tv. He was featured in horror films such as “Castle of the Living Dead”, “Dr. Terror’s House of Horrors” and Hammer Film’s “Die! Die! My Darling”! Sutherland’s big breakthrough was “The Dirty Dozen”, he then left London for Hollywood.
   5. He found himself a leading man in the 70’s such as in psychological horror film “Don’t Look Now”!
   6. Sutherland has starred in over 140 films and many film critics have cited him as one of the best actors never to have received an Academy Award nomination (like last week’s Kevin Bacon and numerous prominent directors), however, he has won one Academy Award… an “Honorary Oscar” in 2018… “for a lifetime of indelible characters, rendered with unwavering truthfulness”. He was nominated for 8 Golden Globe awards and won two Golden Globe awards and one Primetime Emmy Award.
   7. Short list of Donald Sutherland films
      1. The Dirty Dozen..1967, director Robert Aldrich, co-starred Lee Marvin, Charles Bronson, John Cassavetes, Robert Ryan
      2. MASH…1970…director Robert Altman, co-starred Sally Kellerman, Elliott Gould, Robert Duvall, film won one Oscar for Best Writing and was nominated for four.

• Don’t Look Now…1973…director Nicolas Roeg (Walkabout, The Man Who Fell to Earth) and co-starred Julie Christie

1978. Invasion of the Body Snatchers…1978..director Philip Kaufman, co-starred Brooke Adams, Jeff Goldblum, Leonard Nimoy, Veronica Cartwright
      1. JFK…1991…director Oliver Stone, co-starred Kevin Costner, Kevin Bacon, Tommy Lee Jones, Gary Oldman, Sissy Spacek, Jack Lemmon, and Joe Pesci.
         1. Sutherland played one of the most crucial scenes of the film as he steps out of the shadows to speak to Attorney Jim Garrison and starts off with “Just call me X” as he begins to fill him in on the truth behind the conspiracy that killed JFK. He proceeded to tell him “Your only chance is.. to come up with a case.” The scene was just 15 minutes but was considered one of the best speeches in film, “JFK” won two AA awards and nominated for six more including Best Picture.
      2. Ginger Rogers….July 16, 1911-1995
         1. Ginger Rogers was an American actress, dancer and singer during the Golden Age of Hollywood.
         2. Virginia Katherine Mc Math was born in Independence, Missouri, her Mother (newspaper reporter, scriptwriter and movie producer) and her Father, an electrical engineer. Her parents separated shortly after she was born.  After unsuccessfully trying to reunite with his family the father kidnapped Ginger twice and the parents eventually divorced and Ginger never saw her father again.
         3. Rogers’ entertainment career began when the traveling vaudeville act of “Eddie Foy” came to town and needed a quick stand-in. At 14 she entered and won a Charleston dance contest, the prize allowed her to tour as “Ginger Rogers and the Redheads” for six months on the Orpheum circuit.  Not long after she gained recognition as a Broadway actress and that led to a contract with Paramount Pictures with her first supporting actress roles in “42nd Street” and “Gold Diggers of 1933”
         4. In the 30’s she did nine films with Fred Astaire, some of the bigger successes notably “The Gay Divorcee”, “Top Hat” and “Swingtime”.
         5. She had considered the role of Jane Hudson in “What Ever Happened to Baby Jane”, as we all know Bette Davis got the part!
         6. Ginger’s hometown organized a festival in her honor and turned her birthplace and childhood home into a small museum in her name.
         7. Rogers made over 73 films. She won one AA award for Best Actress in “Kitty Foyle”. 
         8. Short List of Ginger Rogers films
            1. 42nd Street…1933, directed by Lloyd Bacon, co-starred Dick Powell and Ruby Keeler
            2. Gold Diggers of 1933…1933, directed by Mervyn LeRoy, co-starred Dick Powell, Ruby Keeler, Dennis O’Keefe

• Top Hat…1935, directed by Mark Sandrich, co-starred Fred Astaire, Edward Everett Horton

1. Swingtime…1936, directed by George Stevens, co-starred Fred Astaire

4. Erle Stanley Gardner…July 17, 1889-1970,
   1. Erle was an American lawyer and author best known for the ‘Perry Mason’ series of detective stories consisting of over 80 novels.
   2. Gardner was born in Malden, Massachusetts. He graduated from Palo Alto High in CA.  He enrolled at Valparaiso University School of Law in Indiana only to be suspended after one month as his interest in boxing became a distraction. So he returned to CA and pursued his legal education on his own, and, passed the CA State Bar examination when he was 21.
   3. After starting his law career he lived and ran his practice in Ventura, CA until the publication of his first Perry Mason novel. (That same building, The First National Bank Building, remains as a historical site and displays a plaque in his honor).  In his spare time Gardner wrote for pulp magazines.  Early in his life as a novelist he typed stories himself using two fingers, later he dictated them to a team of secretaries.
   4. Gardner’s detective/courtroom novels inspired the television show “Perry Mason” which ran from 1957 to 1966. The title character was, of course, played by Raymond Burr.
   5. At the time of Gardner’s death he was named the best-selling American writer of the 20th century.

Honorable Mentions

1. Orville Redenbacher….July 16, 1907-1995
   1. Orville Clarence Redenbacher was an American businessman. He was a visionary who single handedly revolutionized the American popcorn industry. His ‘bumpkin’ appearance, the man with the signature white wavy hair and oversized bowtie was a shrewd agricultural scientist.
   2. He appeared in advertising in his trademark outfit and in public. Some customers wrote letters asking if he was a real person and not an actor so he appeared in several talk shows professing his identity…”I want to make it clear that I am real”, he said.
2. Michael Flatley…July 16, 1958
   1. Michael is an Irish-American dancer, choreographer and musician. He became internationally known for Irish dance shows Riverdance, Lord of the Dance and Feet Of Flames.  Michael’s shows have played in more than 60 countries. He is in the Guinness World Records for tap dancing 35 times per second and his feet were at one time insured for over $57 million. Michael received a National Heritage Fellowship the highest folk-related honor awarded by the National Endowment for the Arts.

On This Day in History:

1. The Monkees performed at Forest Hills, NY. Jimi Hendrix is the opening act.  July 16, 1967
   1. Hendrix played three songs, ‘Wild Thing’, ‘All Along the Watchtower’ and ending in ‘Hey Joe’. The Monkees followed with 16 songs.
   2. And yes, they all did bizarrely tour together. Its been said it’s the musical equivalent of using milk as the mixer to your whiskey, and at first seemed like an utterly ridiculous idea on the surface but many kept organizing the two stars of different worlds to hit the road together.  The one mainly responsible for this collaboration was Mickey Dolenz, from The Monkees. He said that he first saw Hendrix in Greenwich Village then attended the Monterrey Pop Festival and couldn’t believe it when he saw Hendrix perform there. He said, “we were about to tour, and were looking for an opening act.  I said to the producers of the show that Jimi would be great for opening because he was very theatrical like we were…and they liked the idea”. 
   3. As it turned out Hendrix didn’t last the whole run of shows (after seven gigs) but this one on July 17th was his last. Dolenz said later that …”Jimi would fire up the amps and break out into ‘Purple Haze’ and the kids in the audience would instantly drown him out with “We want Daaavy! It was embarrassing.”
2. Disneyland’s Grand opening of the Golden Horseshoe on July 17, 1955
   1. The Golden Horseshoe, a revue show in Frontierland made its public debut. Over 28,000 people visited the park during that Grand Opening. The food carts ran out of food and many rides broke down.  The temperature was 101 degrees and the cement had not fully set so visitor’s shoes were getting stuck.  There was a gas leak in Fantasyland which caused much of Adventureland, Frontierland and Fantasyland to close for a few hours.  Flames from the leak were seen trying to engulf Sleeping Beauty’s Castle.  Walt was so busy he didn’t learn about the fire till the following day.  Only 12 rides were running. The park was open to the public the following day.  Admission was $1.00 for adults and .50 to .75 per child. 
3. Apollo 11 launched, carrying the first men to land on the Moon, July 16, 1969, which happened on July 20th.
   1. Do you remember where you were?
4. Scientists reveal first close up picture of Pluto sent by the New Horizons probe, July 16, 2015

Jay will be on the same corner in front of the Cigar Store next week