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Funny right now seems like -- very troubling task in this economy -- you folks an Irish have been emailing -- about it how about saving money.
First though we are going to have to teach you how to do that here to share their tips on how to save money are.
Twins David and Jonathan Murray they are co authors of two for the money that's sensible plan for making it all work.
And I want to welcome Jonathan and David and tell our viewers that -- both.
Have worked in high finance for many many years old you're owed -- -- this -- again.
I mean we're coming up they let's bring -- the base but but Jonathan we'll start with you concerning to me for a people are so nervous there almost paralyzed right now is that the a good thing -- the.
Worse than it as an investor it's a terrible thing to feel that as an investor I think it's a good harbinger because when things feel greatly is that you know in 1999 everybody felt great about investing.
That was not the time to be buying stocks today when everybody around you is bemoaning the stock market and how much their 401K -- gunned down in their 529 plan.
That's usually a sign that the market is about to make about them he said that because I was bemoaning my thought when.
We all -- had no yeah but you know -- David I mean one of the things that's been a very good thing for investors.
He's always been nice dividend paying stocks -- safe dividend I think that's.
Those are going away left and right right now solid companies cutting the dividend completely.
You have there there has been nowhere to hide it's an overused cliche but I think if you look at the broad collapsing and across a lot of the sectors and a lot of the companies the market has not.
Distinguish between great well run companies with -- management.
And pure balance sheets and strong cash flow vs all the ones that didn't have any of those I think in times of uncertainty and we're not out of the woods yet I think.
I'm gonna differ with my brother and this went a little pillow you've got to lean -- good high quality companies with histories of great dividend.
Everything's getting thrown -- guys Brian good companies -- getting -- out -- the bad it just a massive dump and that's opportunistic for the savvy investor really is -- -- buddy Warren -- I mean he is.
Rubbing his hands with the lead here about doing buying in the smartest investors around you guys are doing what are they selling or buying -- buying -- really got.
Their clients -- let's -- -- with him on long term that they -- -- in the next year to forget unlucky product cash David.
Let's teach people how to save money and I always tell our viewers right now that get your pens and pencils ready because we have a list that's been put together by the Murray Brothers and let's start.
-- it's simplistic but I don't Wall Street people who have spoken to -- over the past three months saying.
I am not eating out anymore and I don't follow down the last day you can get any -- -- -- but now I mean it's an article -- -- credible.
Without any two week notice the first things that you -- oh my -- if you if you guys figure out how much money you're spending by eating out of here in order bottom line.
-- with another couple forget it.
You get home by the wind out of your favorite market cook up a great you know got an -- time if you're -- you're rich hacker you're out or eating at home we'll save you a whole lot of unemployed buzz word is -- leverage on Wall Street right.
I am and I think it until -- -- Saturday night because what it means to -- your -- what what was on the little -- -- and recoverable that's all about down you know whatever your cell -- package is very very entertaining and says you know what programs for the kids hooked up to.
There's so many ways to downsize your tech.
Aspect of your life and to save hundreds of dollars a month literally hundreds I mean might invest in the -- invest like -- -- hole.
Well that I'll tell you what you -- -- Yale endowment fund is trying to time this -- -- -- -- -- out of -- absolutely not -- as investors we can invest the same way they do which had has had a great history of success product that's what did David I was at Yale endowment.
Plus for the year is even -- of Johnson right they are not market timers they're not worried about the day to day fluctuations of the market doing -- well they're non correlated they have a lot of alternative investments things that are not correlated with stocks and it's important for us small investors to make sure that we.
Another important thing is that he sticks to -- planned they have an investment policy statement which is really just your plan for investing.
And they stick to it when asset classes get out of -- they -- balance and that's something that all of us can do.
And you either you had your clients come to you and failed one up that position myself ahead of the next president.
There's been a little bit of that going on -- and I I think regardless of who's in the White House tax free municipal bonds make a lot of sense in this environment because you know we're just getting -- printing press gone.
It's gonna cost -- reliable about though before before things get better we will be hearing I predict not only about bankruptcies but also potential defaults and municipalities towns.
And counties across this country so -- -- the -- -- saying the good thing you're saying out there I saved by -- you can get up 5% tax triple tax free -- today with a AAA rated general obligation bond Dave's right if you're gonna buy individual -- make sure that the underlying issuer is sound.
Generally speaking -- GO bonded general obligation it's backed by the taxpayers.
Are safer than revenue bonds Jonathan David Murray.
Thank you for.
Yeah I think a person by you have to -- the motor cart because they wanted to armrest sites out there we do it despite all the time I'm thank god that -- -- I'm thankful I think it.
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