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March 4, 2023 - Stew Peters Show
34:36
Scriptures And Wallstreet- Biden Wants Your 401K!
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Thank you.
Hey guys.
Welcome to another episode of Scriptures on Wall Street.
I'm your host, Carlos Cortez.
I wanted to just bring up to your attention, do you really own your 401k?
I've said this for many years, do you actually own your 401k?
And the answer, in my opinion, is no.
You actually are a participant and not an account owner.
What I mean by that is your 401k is actually an agreement with the federal government controlled by Department of Labor, which is ERISA. You can look this up and you can bore yourself with all the statutories that are out when it comes to the control of your 401k.
But what you need to know is that as you save into this 401k, you are giving rights to the federal government to make decisions on the taxation on your money.
The government feels that since you never paid taxes on this type of money, that they almost actually own it.
So if you want to try me on this, go ahead and call your 401k provider and ask if you can roll over your money.
Are you guys getting the theme here?
Like, go ahead and ask the bank that is FDIC approved, can you take all your money out through a large cash withdrawal?
Go ahead and ask your 401k provider, can you roll your money over into your own private IRA or can you take it out?
And what you're actually walking into, guys, is you're walking into participating services.
You have no control over this money.
So today I wanted to talk about...
Biden knows this and he also wanted to impose this whole ESG garbage to environmental, social, corporate governance mandates on your money.
So all this is going to do is basically like the Green New Deal circumvented into your 401k.
It is all this woke liberal stuff that they want to control your 401k.
So not only do they control the taxation on your 401ks, they actually want to implement their liberal woke agenda inside of your 401k.
And there's nothing you can do about it.
The Senate shot it down, but stupid face Biden wants to go ahead and veto it.
So we'll see where this goes, guys.
But I'm not a big fan of 401ks.
I'm not a big fan of matching them.
I'm not a big fan of maxing out your IRAs and your SEP IRAs.
All these instruments are owned by the government.
Do you trust the government with your money?
When you have these tax retirement qualified accounts, that's what you're basically doing.
You're saying, hey, here are my keys, take them, and then you tell me how much you want to tax them.
So, the other side of the story...
Social Security.
I've said this many times.
Social Security is really a huge problem right now.
Because what's going to happen, everybody's building wealth into their 401ks and IRAs.
And honestly, it's part of the American dream.
That's what you've been taught.
So you put your employer matches 3%, 4%, 5%.
Heck, I've even seen 7%.
And you're building wealth in this 401k only to really develop a massive tax bomb.
So imagine you've worked 30 years, you have a 401k, You're over a million dollars.
You're excited.
But now it comes, you know, time to retire.
And now you're 63, 64 years young and you're worrying about when you want to take Social Security.
You want to take it sooner rather than later because you know it's probably going to run out.
But let's just say you took it at 67, which is past full retirement age.
You no longer have to worry about earnings tests.
Now what is earnings test?
The federal government has a mandate on your money once you take social security there's something called a full retirement age.
This full retirement age It really means that if you go over a certain threshold via ordinary income while taking Social Security, they're going to penalize you like crazy.
So in 2023, that number is $21,240.
So if you're not full retirement age, for many of you in this podcast listening, 66 to 67, you have to look at ssa.gov to see when your actual FRA birth date is.
But once you do that, the number this year is $21,240.
If you make over $21,240, the federal government will penalize you 50% any amount over $21,240.
So that is a 50% penalty.
And guess what, guys?
The 401Ks and the IRAs that you had a romantic fetish with and emotional attachment with and it was your pride and joy your whole life now becomes your massive, massive villain, retirement villain is your 401K because now you can only pull $21,000 out a year While you're on Social Security because you didn't retire when the government says you needed to retire.
So be very careful, guys.
This is the number one problem I see is that everybody's doing this.
They build so much wealth in the IRA and 401k.
You don't have control of it.
And that's what these Luciferians, these Democrats, this is what the whole woke agenda, socialism, trying to make a comeback in America, this is what they want.
They want to control you.
Like Klaus Schwab says, you will die poor without nothing and you'll be happy.
But the Bible says, my people suffer from a what?
From a lack of knowledge.
So what we want to do is teach our listeners, our viewers, that, hey, there are some booby traps out there.
There are some booby traps.
And so that's the whole premise of this podcast, just to educate you.
I've seen the comments on there.
I've seen the comments out there, and they're like, why do you want to trust this guy?
Because he has been with 12 different companies in 14 years.
I mean, I've seen the comments, and...
And I'm like, okay, go find...
I don't even know why you're trolling on my podcast, but go find a company, man, that's been there for one company for 30 years and see how that works out.
So it's funny, some of the comments I get on here.
Anyways, what I want to say is I fight against the banks.
The banks never liked me.
The broker-dealers never liked me.
When I brought safe money options, guaranteed options that were outside of Wall Street, they wanted to fire me on the spot.
And I got so good at what I wanted at a very young age, I started firing them.
I started basically severing my agreement with them.
And so there was no bank that would bring me on.
They wanted to cancel me.
They wanted to silence me.
They didn't like my God country family agenda.
They didn't like this whole America first retirement planning agenda.
It didn't fit their pocketbook.
So you know what I did?
I started my own.
I started my own institution.
And, yeah, I was always, always committed to doing the right thing for my practice and for my clients.
And, honestly, most of these banks, they only play in red money.
They don't like these broker-dealers.
They don't like fixed products.
They don't like an account where you can guarantee it because they don't make money off of it.
So once I figured that, I started my own firm 12 years ago, and it's been going strong ever since.
It hasn't not come easy, guys.
It has not come easy.
But ESG, we want to stay away from it.
Because here's the grimy part.
The grimy part is ESG stands for Environmental Social Corporate Governance.
And so what happens, just think about this, a 401k is ruled by ERISA. How do we know the people that run ERISA are in bed with BlackRock, are in bed with Fidelity or these huge fund managers?
How do we know there's no bribery there?
How do we know there's no politics there or there's a conflict of interest?
Maybe they go out with a few beers.
Maybe their kids play in the same hockey team.
I don't know.
How do we know there's not something there?
To the point where one person can make a decision that affects...
Literally $12 trillion that Biden wants to be allocated into ESG in 401k money.
150 million Americans.
$12 trillion.
ESG, baby.
That's what he wants to do.
That's what he wants to do.
And so this is not a conspiracy theory, guys.
This is actual fact.
This is straight fact.
It is real what's happening right now.
This whole ESG woke garbage, uh, shakeholder, uh, capitalism, they're trying to put, they're trying to make democratic socialism into like democratic capitalism.
That's what they're trying to do here.
So what do we got to do?
What's the solution, Carlos?
Before you say, oh, buy gold in 401k, buy gold in IRA. Guys, your gold IRA is the same 401k nonsense as an IRA. It's the same thing.
Just you have gold in there, which is a red money bucket.
Your gold and your silver goes up and down.
It is not insurance.
It's a hedge.
So, I do like precious metals.
I don't really care for precious metals IRAs.
But if you want to buy one, we recommend Cornerstone.
We like Cornerstone.
And they are a good group of guys.
Cornerstone assets, metals.
They will beat pretty much any gold reputable dealer.
And they will put Bible scriptures on your money.
So, anyways, IRAs, guys, can be extremely dangerous due to the fact that You just can't control.
You can't really control the taxation on what's going to happen.
As they keep on printing and printing and printing money, the government determines how they want to tax you and when they want to tax you.
If you don't, they'll hit you with a spiked bat called 50% penalty.
So if you want one of these cool things, a little commercial ad here.
I don't know if you can see these, but this is a gold bar, 24 karat.
It's 50 grams.
I really like this.
It's pretty cool.
You see all the slits in it?
I don't know with the glare and the lighting.
But you can break off each one of these.
There's 50 grams here.
Each block is one gram.
And you know, it's probably like $60 worth.
One blocks, but these are pretty cool.
Instead of buying gold bars, you can buy one bar that's split up into 50 different ones.
Just in case you need to break a corner off, pretty cool as an emergency.
But if you want one of these, call 888-747-3309.
Again, 888-747-3309.
And you want to speak to Cornerstone?
Asset Metals, one of the best guys out there in the gold and precious metal game.
We don't recommend all your money into this.
We don't even recommend that you put more than 30% of your IRAs with them.
It is still a volatile investment.
And speaking of volatility, did you know that last month the market was down in February 5%?
We are seeing so much hedging.
This is wild.
I read this like a few minutes ago.
We are seeing so much hedging right now.
People buying, this is considered a hedge.
Obviously your silver.
Got silver bars here.
These things are so cool.
Silver coins.
I like silver better than gold.
These things are awesome cherry ounces.
But there's so much hedging going on.
It's more than actual...
There hasn't seen this much hedging since March 2020.
How crazy is that?
So what are people getting prepared for?
Well, they're getting prepared for a market crisis.
Okay.
The banks are, you know, they already put $4 billion in cash.
All the big banks, name them.
They're doing it.
So just kind of a market update is that the hedging is off the charts right now, guys.
They haven't really hedged this month since COVID, which is pretty scary.
So we have stupid-faced Biden with ESG. He got the kibosh in the Senate, obviously.
Now he's going to try to veto it.
There's $12 trillion out of 150 million 401k monies, or Americans, I'm sorry, inside of the 401ks that they want to control.
And so the Senate just recently shot that down.
But you see how the 401k providers, the people at ERISA, They control your money.
They literally control your money.
So I don't know how that makes you feel, but I don't know about you, but I don't want the government controlling my money.
That's why these are pretty popular.
This is why insurance contracts are unpopular.
Private insurance contracts.
I don't care if it's cash value life insurance or a fixed index annuity that guarantees your principal.
It is protected by private insurance contract law.
And then I can get more and more detail on how this would help you from a financial reset, how it would help you from a market decline, how it would help you from the actual financial inoculation that this controlling, tracing government wants to impose on the right to your money, the right to e-commerce.
How the 401k actually hurts you when it comes to pre-Social Security.
The government wants to penalize you if you take Social Security early.
Like I said, if you make over $21,240 before your full retirement age, they're going to penalize you 50%.
Even when you are full retirement age for that whole year, if you make over $56,520, they will penalize you 50%.
30%.
So every $3 you make, you got to give one back.
Every $3 you make, you got to give one back.
That's when you're already full retirement age and you're working and collecting.
Hello, hello, hello.
Irv to the retiree.
When you pull money out of your 401k, you are considered working.
You're fully retired, but you're pulling money from your 401k, you are considered ordinary income.
So because you're full retirement age, you still have an earnings test limit.
They put a cap on how much you can make without penalty, and that is $56,520.
You need to know these rules before you get into the social security game.
Don't just take Social Security early and think you're going to get away with this.
They will penalize the heck out of you because you own a 401k or IRA. So I wanted this podcast to just really emphasize the dangers that your 401k and IRAs can have.
Now one of the crazy parts is that when you lose money in a 401k or IRA or any qualified retirement account, you can't write it off.
You cannot write it off.
Be very, very careful on where you're putting your 401k and IRA assets.
I like private insurance contracts with your IRAs because they're guaranteed.
You have cash reserves.
Unlike the FDIC, you don't have any cash reserves.
They have 1.3% to 2%.
If you're lucky, credit unions are safer, but the FDIC is not really imposing their liquidity funds on their banks because they don't want you to have large cash withdrawals.
And so the bank keeps on making money off your money, loaning it out eight or nine more times and giving you peanuts.
So what's really popular right now, guys, is the hedging on your money.
I think the market's going to go down for the next foreseeable future.
Rates are increasing.
So what does that mean?
The rates are going to increase again.
The prices of your investments are going to go down.
If your money manager, we have yellow money manager.
If your money manager is in a mutual fund or in stocks, you're going to lose money.
Straight up, in my opinion, you're going to lose money.
You've got to be completely defensive.
The only thing that's defensive right now is treasury bills, short-term treasury bills.
They're paying a little over four and a quarter.
We have a cash alternative fund.
We have a money manager that can trade in and out of these treasury bills.
Treasury bills are, I can't say the word, guaranteed, right?
But they're investments.
They have inflation risk, but they are the safest thing on the planet when it comes to keeping up with inflation and protecting your principal.
So if that's you, if you want a cash alternative fund, you don't want money in the bank, you want money in the fund that can actually gain interest on a quarterly basis, and it's 100% liquid, then give us a call. 813-448-3446 or then give us a call. 813-448-3446 or visit us at CortezWM.com, and we can basically see if the cash alternative fund is right for you.
Also, with that being said, I am a financial advisor.
I am securities licensed.
Please do not take this as investment advice.
This is not investment advice.
Please seek a licensed professional in regards to your retirement planning needs and your investment planning needs.
This video should only be used for educational purposes.
So going back to the market update, we got a lot of rising interest rates still.
Man, these jokers keep on wanting to rise interest rates.
So the bigger problem is inflation.
The reason why they're They're rising interest rates because they can't cool off this stinking inflation.
And so when inflation is up, guess what happens to the U.S. dollar?
It rises.
What happens when the dollar rises?
Then the prices of gold and silver go down.
So you're going to see gold and silver go down just a little hair more, but I think your stocks are going to go down a lot more because these rising interest rates will crush market.
So all the gains we've made in January are gone.
All the gains year to date are gone.
I know everybody was like, oh yeah, the market's back.
The market's back.
Yeah, well, you lost it.
The Dow just is actually in a negative right now.
The S&P just gave up all the gains for the year.
Dow Jones is in a negative going into March.
Guys, get ready, man.
Get ready.
Get into some very, very low volatile funds.
If you don't know what those are, give us a call.
We're more than happy to help you.
What happens when the stock market goes down?
CD investors panic and they add more money into the bank.
Then you're giving more money to the bank, but the bank gets a little more greedy-ish and they start over-lending.
Then what happens there?
There could be another financial crisis and then all your money is gone because FDIC doesn't have your money.
So be very, very cautious, guys, is all I'm saying.
We want to make sure that you have an option.
Give us a call.
We do have the solution for this Luciferin recession pandemic that we're in.
It does not entail all precious metals.
Do not put all your money in precious metals.
That is the dumbest thing you can do because precious metals is extremely volatile.
You need safe money and you need managed money with precious metals.
So give us a call.
We have the solution.
We've been so swamped and so busy with clients just calling in, calling in, needing help.
We want to work with God-fearing patriots.
We love working with those people because we feel that we've been chosen to be an enlightenment for you guys to to really just serve you and give you hope, peace and sound mind when it comes to your retirement.
Lucifer wants you to worry, to panic, to to feed your fear.
And we don't want a fear monger.
We just want to give you facts.
And the fact is, is that Biden literally tried to control another way, another part of your 401k in a certain way through the ERISA, through ESG.
Lord knows what's going on there with the ESG.
Like you're going to fund Ukraine.
You're going to fund China?
What else are you going to fund in this social governance garbage that you want to do?
It's just disgusting, guys.
I get so upset.
I get really upset.
And so, the other thing that's interesting that I was looking at is the volatility index.
The volatility index is at 1849.
Guys, during the break of this pandemic of COVID, it was all the way up to 66.
So, what I will say is that look at the volatility index.
Right now, it's at 1849 as of March 3rd.
When this goes over close to 30, you're going to see a lot of volatility.
The VIX is the fear and greed index.
So as it rises, you'll see these big, massive swings.
And it's been pretty choppy this past year.
It's been ranging from 21 to as low as 15.
So typically when it's low, the market's going up and everybody's happy.
But when it's high, the market typically goes down.
It was over 30.67 in December of 2021.
And obviously in December of last year, it was down to 20.87.
So not too terrible, but the markets are going back down and you'll start to see more volatility as interest rates rise.
So be very careful.
If you're retired, if you're trying to retire, we get a lot of calls, people are trying to retire.
You need your safe money.
You need allocation to a bucket that can never lose money that's safe.
You need allocation to manage money that can be liquid and that can grow and keep up with inflation.
And then you need a bucket of money for precious metals.
So the covenant process is what I'm talking about.
Our covenant process is simple.
We believe in a certain amount of precious metals.
For some of you, it might be Bitcoin.
For some of you, it might be straight precious metals.
But some type of alternative liquid fund needs to go there.
The other third needs to go into a safe money bucket.
We typically use a private insurance contract so the government doesn't have access to it.
You're not being manipulated with the stock market.
Manipulations.
And the third component is having a manager that can actually trade the markets into your favor, that can defend your portfolio.
They're not perfect, guys.
They're not perfect, but you have somebody proactively looking at it every single day and that can make moves and adjustments based on the market.
And right now, all of our money managers, they're not even in ETFs.
They're not in stocks.
They are literally completely, completely defensive.
We already lost all the gains for the year in the markets.
The Dow is down.
The S&P has lost all its gains.
The Dow is already down, plus it's going back into your principal.
It's not looking good this quarter, guys.
It's probably not going to look good for the rest of the year, like I've said.
Wall Street really wants a conservative back in the office.
They want a pro-business, pro-economy Administration and one that can complete sentences for crying out loud and that can walk up the stairs.
So I honestly don't know what's going to happen with the conservative party.
If DeSantis or Trump, if they're going to team up or they're going to fight, I have no idea.
I have no idea.
Stu knows more than that than I do.
I just like looking at the money game and your retirement.
There's so much there I can talk about.
Pray for our country, guys.
Pray for our country.
We need prayer.
If we can stop, turn from our wicked ways, repent, God will heal our land.
Can I get an amen on that?
Matthew 5.11 Bless are you who people insult you, persecute you, falsely say all kinds of evil against you because of me.
Ew, I just read the NIV version.
I'm sorry.
I'm sorry, Pastor.
Pastor, if you're watching, I was just looking at all these different versions.
I didn't mean to read the NIV. God forgive me.
Bless are you when they rival you, persecute you, and say all kinds of evil against you falsely for my sake.
So that's my verse today.
People are going to just talk junk about you.
They're going to persecute you.
But stay in God's word.
I challenge you guys.
Every morning that you wake up, read your Bible.
Let the Holy Spirit just change your heart.
Remember, God is a Prince of Peace.
Jesus is a Prince of Peace, man.
When you spend time in His presence, there is such a peace and confidence that you have because you are connecting your soul to His Holy Spirit.
It is the most beautiful thing.
That's the only way I can do this.
What I do is extremely stressful.
Hearing people call saying, hey, I'm losing money or I can't do this, I'm trying to retire.
People and their money It's amazing.
You can really see what's really important in their lives.
And it's like they completely forget what the Bible says.
And they focus all their energy and their time on the money.
And I'm like, guys, this is just going to go away.
Like, I know you need to plan for your retirement.
I know you need to do this, but chill out.
God provides for the birds in the air.
He can provide for you.
You're not going to run out of money.
You're not going to lose everything in the stock market like you think you are.
You're going to lose it to taxation.
You're going to lose it through the sneaky junk that Biden's trying to do and the woke agenda.
That's how you're going to lose it, through the taxation on your money.
Or through the bank.
Like the banks, they literally can take your money.
The next 2008 happens, they're going to just bail you in.
And if you don't have this in your portfolio, these gold bars are so cool.
I love these things.
They're awesome.
Then do you have nothing to work with?
So stack up on your precious metals.
Call Cornerstone.
Call us if you want a direct introduction.
813-448-3446.
You need a plan that can give you peace, love, and sound mind.
That doesn't feed the shareholders that you're with.
I've spoken to many, many clients that are with Edward Jones, Merrill Lynch, Morgan Stanley, LPL, and I ask them just one question.
What bothers you?
What are your concerns about this?
You know what they tell me?
They're like, I do not like my advisor is not faith-based, and he took the vaccine, and he also has me in all these investments that I don't agree with these companies.
If that's you, give us a call.
We welcome you with arms wide open.
We want to help you.
We want to serve you and give you an outlet.
You don't have to own these evil companies in order to be a steward of your money.
We have a covenant process.
We have the American First retirement planning process.
For those of you with half a million dollars or more, and you're under the age of 68, We have the Never Tax Me strategy where we can get out of the IRAs and 401Ks, use an insurance contract, borrow against an insurance contract to pay the taxes on your money so you never have to pay taxes on it for the rest of your life.
We've been doing that for years and it's been awesome.
Give us a call if that's you.
We want to help you lower your adjusted gross income so you're not being penalized on full retirement age and the scam with Social Security and a taxation.
You gotta start controlling your assets, guys.
You have to start controlling your assets.
It's too late in the game to be messing around with giving the government all your money and letting them decide the rules and regulations when it comes to your money.
Not all of it has to be in precious metals.
Not all of it has to be insurance contracts.
Not all of it has to be in managed money.
But you need to have a plan.
So give us a call.
813-448-3446.
I would love to help you.
I've hired two new consultants.
You may not get me, but you'll get two of my fine, hand-picked, selected, well-trained consultants.
I manage them as well, and I sign off on everything.
So if you don't get a hold of me, definitely speak to one of our consultants, and we will take care of you.
Forgive us if we missed a call.
Forgive us if we're still growing.
We have growing pains.
We get hundreds of phone calls every week, and we want to serve each and every one of you guys.
And I'm only one person, by the way, but we are scaling, and we're going to be able to reach everybody, and we're more than happy to.
We feel like we're doing God's work and providing truth to the marketplace and a bloody Wall Street and a Luciferian Wall Street.
But give us a call, 813-448-3446.
I'm honored that you've spent your evening listening to me.
Jab, jaw jab a little bit.
And like I said, Matthew 5, 11.
Love that verse.
And we will be talking soon.
God bless you.
Give us a call, 813-448-3446.
I'm going back to my webinars on americafirstretirementplan.com.
So hopefully our producers can put the link there, americafirstretirementplan.com.
Or you can visit CortezWM.com if you want to book an appointment or give us a call or scan the QR code on the bottom left or right here.
But our phone number is 813-448-3446.
Give us a call at 813-448-3446 or visit our website at CortezWM.com.
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