Stephanie Pomboy: Bombs, Bullion & Big Trouble With Student Loans

**Adam Taggart** (0:01)
And we're live, welcome folks, welcome to Thoughtful Money. I'm Thoughtful Money Founder and your host Adam Taggart. Welcome you back for one of our bi-weekly sessions with the great Stephanie Pomboy, who you can see is joining me here from a new location this week. Steph, how was the trip out west?

**Stephanie Pomboy** (0:19)
It's always great to get out here for the summer. It's definitely my happy place. Bear country, I feel right at home.

**Adam Taggart** (0:29)
Well, good, because you might be hanging out with the only bears left. I guess so.

**Stephanie Pomboy** (0:34)
It feels that way.

**Adam Taggart** (0:36)
All right. Well, look, an apology folks for us starting a few minutes late today. Just technical issues all the way around here, but we soldiered through it. Thanks for your patience and your fortitude there, Steph, but we're going to make up for it by making this one of our best ones ever.

**Stephanie Pomboy** (0:52)
Okay, there you go. All right.

**Adam Taggart** (0:56)
Well, look, folks, lots to talk about with Steph. One thing I'm going to try to create here on the fly and I'm probably going to butcher this folks. But later on this afternoon, actually this evening at 7 p.m. Eastern, 4 p.m. Pacific, I'm going to be having a free webinar that I'm going to be hosting for Ted Oakley.
Most of you viewers are familiar with Ted Oakley. He's the founder of Oxbow Advisors. Ted, amongst servicing a lot of high net worth families and managing their money, he oftentimes publishes a lot of books about key subjects around wealth building. The one that he's just released recently is all about what he calls second generation wealth, but it's basically raising money smart kids. Whether your kids are minors or whether you've got adult children, Ted is basically sharing all the best practices that he has witnessed over his 40 plus years in the business of seeing the families that have successfully pass wealth onto the second generation, taught their kids about money and had their kids take the torch and then grow the family wealth. But he also has lots and lots of stories where that torch was passed and then the kids actually blew through the money and then didn't have anything to leave over to the third generation. So he's going to be sharing his observations of what those best practices are, and then taking live Q&A. This is totally free. So if you haven't signed up for that yet folks, go to thoughtfulmoney.com/kids right now, sign up for that. Everybody who registers will be able to watch the webinar, ask questions. If you can't participate live, don't worry, because everyone who registers is going to get a replay of the entire event. And again, this is all totally free. Sorry for that commercial, Steph, but wanted to give a shout out to you, given how timely it is. I know this is a topic that's near and dear to your heart, too, financial literacy.

**Stephanie Pomboy** (2:52)
Absolutely. Yeah. I mean, you're doing a tremendous service and having Ted do that talk is fantastic. So absolutely. Kudos to you. Last time we chatted, you were about to go sit down with your teenage niece, I think, and give her some advice. So this parlays right into that.

**Adam Taggart** (3:11)
It really does. That talk went well. I gave folks sort of an update on it in one of the last weekly market recaps I did with Lance Roberts. So I won't go through it all here now, folks. But yeah, it went great and I'll be peppering, I'm sure, today's conversation with Ted with some of the things that I found worked well in that discussion. But on to bigger things. So Steph, I changed the title of this right as we were hopping online today. So I'm calling the title of today's session, Bombs, Bullion, and the Big Trouble with Student Loans. So we got lots to talk about all these. Why don't we start if we can just with the big news, since we last talked over this past weekend. America took its first active offensive role in the Iran-Israel conflict. The administration is saying, hey, it was a one and done type of thing. We'll find out what the implications of this are. My question for you is that over the weekend, those of us who are following this closely, the discussion was all about how far down our market is going to open on Monday, how far up is oil going to open? We basically got the exact opposite of what everybody was talking about here. My question for you is A, what implications, if any, do you think may come out of this latest action?