Your Personal Bank with Ferenc Toth

The S&P 500 Hit a New All-Time High. What is Happening with the Economy?

Monday, May 11, 2026

The S&P 500 has increased about 16% in the past month to a new all-time high.

The earnings have been strong. The recent unemployment numbers are phenomenal!

The economy is showing signs of strength, yet significant volatility remains.

Nearly every market measurement is at extreme high levels. Risk is highest at extreme levels.

Berkshire Hathaway cash is at an all-time high and has sold stock the past 8 quarters in a row.

Oil prices have swung down and back up about 10% in hours recently from news in the Middle East.

60 - 80% of Americans cannot afford the median house in their state.

Personal savings rates are the lowest levels since 2008.

The auto loan crisis continues to increase. About 30% of car buyers who traded in their cars had negative equity.

US Dollar offshore deposits have hit an all-time high. International demand for the US Dollar remains strong. The US Dollar as the world reserve currency is strong and strengthening further.

Long-term bond yields remain high and are likely to continue due to historic federal government debt. This creates an opportunity.

This is the "Golden Era" of fixed assets. This is the best time in 40+ years to consider an Index (Growth) Annuity, Index Universal Life (IUL), or Dividend-Paying Life policy.

US Supreme Court Decision will Massively Change the US House of Representatives

Monday, May 4, 2026

The US Supreme Court ruled that states can no longer use race to draw congressional districts. 20-30 house seats are represented by districts drawn to represent minorities. The court ruled this violated the Equal Protection Clause and the civil rights of the majority of voters. Democrats have benefited for decades with these congressional districts. This is a massive change in political power that will likely benefit the Republicans for decades. The Virginia Supreme Court stopped the new district map that would have likely changed Virginia's house representation from 6 democrats and 5 republicans to 10 democrats and 1 republican. Virginia is a purple state. They had a very popular republican governor a few months ago. Kamala Harris won Virginia by about 5% in 2024. The ballot initiative barely passed. 51% of voters would have disenfranchised 49% of voters. Florida recently passed a redistrict effort that will likely increase republican representation by about 4 seats. Florida's redistricting would have off-set Virginia. Millions have moved to Florida since the last Census. Florida had a reason to redistrict other than purely political power, unlike Virginia. Both parties gerrymander. The democrats have been far more aggressive for decades. The 6 New England states average 42% republican voters. Due to gerrymandering, New England has zero Republican House representatives. New England Republicans have no representation in the US House of Representatives. LINK: Annuities Improve Outcomes Paper - JP Morgan

The Conditions for the Next Civil War are Being Put in Place

Monday, April 27, 2026

Two things have caused me to be concerned about conditions that could lead to the Next Civil War.

Hope it does not happen. Not encouraging violence. Using common sense, historical insight, human behavior.

1.Virginia redistricting

- Everyone gerrymanders

- 51% disenfranchised 49% of voters in VA

- New England averages 42% republicans, yet only one republican out of 33 House districts

- New Mexico: 46% republican, but no republican representatives

- No taxation without representation primary cause of Revolutionary War

- Disenfranchised voters become disillusioned, frustrated, or worse

2. Democrat action plan

- Obama: recent donor meeting promised one party rule by 2029

- James Carville: former Clinton advisor

- Recommend if Democrats win House, Senate, and President:

- Make DC and Puerto Rico states to add 4 Senators

- Stack the Supreme Court

- Purpose: long-term one party rule

- "Let them eat our dust"

Permanent one party rule

- Antithesis of Constitution and Representative Republic

- Defies 250 years of tradition

- Fight for the soul of the nation

Solution: States Rights

- States are republics

- States created federal republic, not the other way around

- If states become disenfranchised by stacked Senate and packed Supreme Court, may stop federal overreach

If Democrats succeed with one-party rule think California economy

- The battle will be chaotic

- Uncertainty creates volatility

One type of financial company has thrived in all economies long-term

- Several companies have paid dividends every year before the Civil War

- Ferenc shares info on products that have thrived long-term

Contact Ferenc at ferenc@yourpersonalbank or 866-268-4422 for more info.

Control of the Oil Supply Ensures the US Dollar Dominates as the World's Reserve Currency

Monday, April 20, 2026

The US controls Venezuelan oil and has blockaded Iranian oil.

The US has blockaded the Strait of Hormuz. About 50% of China's oil came through this strait.

The US has established a security agreement with the Indonesia. About 80% of China's oil travels through Indonesian Straits.

The US has eliminated the cheap oil to China from Iran and Venezuela.

The US controls the shipping lanes for about 80% of China's oil supplies.

These actions weakens the BRICS.

The world runs on oil. Control of the majority of the world's oil supply ensures oil is purchased with US dollars.

The petrodollar insures dominance of the US dollar as the world's reserve currency.

Salary Optimization May Be Limiting Your Salary

Monday, April 13, 2026

When negotiating a salary or a raise, most people don't know what they are up against.

Many companies purchase data from payroll processors and other sources to optimize salary expenses. This info often includes previous job incomes and what increases you recieved. The info obtained by companies include address changes, credit card utilization, delinquent debt, and past due balances. This data aggregation determines the lowest salary you will accept. The salary offered is typically about 3-6% above your minimum number. This is just enough to feel like you are negotiating. Veena Dubai, a law professor, completed extensive research on algorithmic wage discrimination and found that when many employers in the same market use the same data vendors, it creates price-fixing of labor. The company has the advantage with all the data. They know what you will settle for. You think you are negotiating. The system even accounts for your counter in advance. You think your salary is based on the position; your knowledge and experience. It isn't. It is based on your desperation. Salary optimization requires information. The primary source is a product called the Work Number. You can contact Equifax and freeze your info. Take back control of your personal info, freeze your info and maybe even your salary negotiations!

The US has a Dual Immigration Problem

Monday, April 6, 2026

Millions of illegal aliens flooded into America during the Biden administration and previous years. They were given cash, food, shelter, and many other benefits. There is even a scholarship specifically for illegals. The Dream US is the nation's largest program for undocumented immigrant students. Illegals get $33,000 for a bachelor's degree. They have awarded over 12,000 scholarships to date. The lynchpin for these giveaways is the Individual Taxpayer Identification Number or ITIN. This is a quasi-Social Security number given only to foreigners. ITIN's also enable illegal aliens to purchase homes, often financed with taxpayer dollars. Our government even advised illegal aliens on how to buy homes against American citizens. The Consumer Financial Protection Bureau advertised that some lenders had mortgage programs tailored for ITIN holders without proof of legal residency on their website. This put illegal aliens in direct competition with American citizens.The US already had a housing shortage. This competition further drove up housing prices. The H-1B visa is marketed as a global talent program, yet 71% of all approvals go to one country, India. This is not global. This is a pipeline from one country to outsource cheap labor. Companies must sign a form under oath they can't find qualified Americans to hire an H-1B worker. The top 5 companies over the past 15 years stated 314,100 times no American were available. They fired 99,000 Americans at the same time. Dream Home Mortgage advertises H-1B Visa mortgages with no US credit. This further creates more competition for homes with US citizens and drives up prices. JP Morgan recently released a study titled "Annuities Improve Outcomes" The study compared a number of scenarios replacing the bond portion of a 60/40 equity/bond portfolio to variable annuities and fixed-index annuities. The likelihood of success of not running out of money in retirement was lowest with the 60/40 equity/bond portfolio. Variable annuities improved the likelihood of success. Fixed index annuities provided the highest likelihood of success of not running out of money in retirement in every scenario. The JP Morgan study did not compare using the best fixed index annuity products available. Contact Ferenc at [email protected] or 268-268-4422 to find the best index annuity product available for your situation.

How Legal Immigration Impacts Our Economy

Monday, March 30, 2026

Included in the Census:

- Illegal Aliens

- Green Card Holders

- Work Visa Holders

- Student Visa Holders

Why should we have representatives representing this wave of foreigners?

There is Daycare fraud, EBT fraud, Hospice fraud, Medicaid fraud, Medicare fraud, Medical Transportation fraud, SNAP fraud, but we are supposed to believe there is no election fraud?

We are told about 20 million illegal aliens entered the US during the Biden administration. When ICE is deployed, airport lines plummet, building sites become ghost towns, class sizes shrink, emergency rooms are not full, and traffic jams are eliminated. I think the 20 million number is bogus. There are credible estimates that there are as many as 100 million illegal aliens in the US.

H-1B was sold as the "best and brightest". H-1B visa employees are paid an average of 15% less than US workers at the same jobs. 87% of H-1B's are entry-level positions. About 94% of H-1B applicants were approved from 2009 - 2025. It has become a system for cheaper labor. Many US citizens, especially younger Americans are struggling to find or keep jobs. Less people are able to save, buy a house, or start a family. This makes the American Dream more difficult and hurts our economy.

Every dollar spent on foreigners is a dollar stolen for Americans.

Americans did not vote for a flood of foreigners to take our jobs and create a welfare state.

We have suffered the highest inflation in a generation. If we deported the illegals and reduced legal immigration, food, housing, and nearly everything else we need to live would be cheaper. Insurance rates would decline. The government would spend less on welfare. The government deficit could be eliminated. Government debt could possibly be reduced. Fraud would decline. Our streets would be safer. Emergency room wait times would be reduced. Class sizes would be smaller. There would be less traffic jams. Airport lines would be shorter. Nearly every aspect of US citizens' lives would improve.

This negatively impacts our economy. This creates uncertainty and instability. Uncertainty creates volatility. Protecting your assets becomes more important.

Index products provide unlimited upside gains with no downside market risk. There are index annuity products that have averaged 10-11% average annual returns for the past decade while the principle is guaranteed.

There is a common misconception that if you want guarantees you have to give up strong returns. That is not true.

What is the Purpose of Government? To Protect and Benefit its Citizens.

Monday, March 23, 2026

The government is not serving its purpose when it is not protecting and benefiting its citizens. When it actively prioritizes anyone over citizens, those policies need to be changed.

If the government makes citizens' lives more difficult, challenging, or less safe, anyone involved needs to be replaced.

Housing has never been more unaffordable.

- Government contributed to the problem by spending too much.

- Excess government spending increased inflation.

- 49% of Americans are struggling to pay their rent or mortgage.

- The government allowed too many people into the country. This is stressing housing supply.

The labor market is weakening

- A record 100+ million working-age adults are not working in the US according to the Federal Reserve.

- Amazon received 10,000+ H-1B visa approvals and fired 14,000 American citizens in 2025.

- US companies often pay foreign born workers 20-35% less than US citizens. Some work visas don't require companies to pay employment taxes.

- A majority of recent STEM college graduates have been unable to find jobs in their field.

- A weak labor market can lead to recession.

DOGE, Nick Shirley, and others have uncovered staggering amounts of government-related fraud.

- Every dollar stolen from Medicare results in less for a sick child. Money stolen from Social Security risks low-income seniors.

- Anyone who really cared about the poor or elderly would be the loudest against fraud.

- Instead, Elon Musk and Nick Shirley have been attacked by leftists and Democrats.

- Who is benefitting from the fraud? Those who are defending the fraud by attacking anyone who exposes it.

Government fraud threatens our society

- Western civilization is founded on the rule of law.

- We elect representatives to create and enforce the laws.

- When people in government favor non-citizens to gain and maintain power, citizens feel used and abused.

- When foreigners who barely speak English, don't assimilate, and often hate us yet are diving expensive cars, buying beautiful homes, and clearly scamming the system, it creates anger.

- If you work hard, pay your taxes, play by the rules and are barely getting by, you feel like a fool.

- If enough people start feeling this way, society will unravel rapidly.

Why I Was Initially Against the Iran War, But Gradually Changed My Mind

Monday, March 16, 2026

Initially I was against the Iran War. I realized it was a knee-jerk reaction to forever wars.

Below are the reasons why gradually have come to support it.

1. Trump is different than previous presidents.

2. Iran is the #1 sponsor of terrorism in the world

3. This is about China and oil, not just Iran. China's primary allies for oil was Venezuela and Iran. Wars need oil. This weakens China militarily.

4. Strengthens dollar as world reserve currency and weakens the BRICS currency. Without access to Venezuelan and Iranian oil, China is forced to purchase oil in US dollars.

5. Demonstrates US strength. US military and technology is impressive. This discourages bad actors. "Speak softly and carry a big stick" Teddy Roosevelt.

6. Good for the US. It is America First. This sets up the US for global economic and military dominance.

Common Myth: If You Want Guarantees, You Have to Sacrifice Strong Returns. This is False.

Monday, March 9, 2026

Ferenc Compares Index Annuities with the new Hybrid Annuities

1. A common myth is that if you want guarantees, you have to sacrifice strong growth. This is no longer true.

2. Ferenc shares a new client case that compared an Index Annuity with a Hybrid Annuity.

Hybrid Annuity Index Annuity

Growth: Limited: capped at 11-17% annually Unlimited: no cap

Downside Protection: Partial: 10-20% Full: principle guaranteed

Annual Fees: 2.5% None

3. If you have an annuity that has had under 7% returns the past couple of years, you have a subpar product with poor returns. You should consider comparing a superior product.

4. If you have an early surrender penalty, bonuses of 22-29% are available to offset the penalty with strong index options.

Ferenc Dispels the Most Common Myths and Misconceptions with Index Annuities and Index Universal Life Policies

Monday, March 2, 2026

Ferenc Dispels Several Myths and Misconceptions with Index Annuities and Index Universal Life Policies including:

1. If you want guarantees, you don't have to sacrifice strong returns. If you own an index product with poor returns, you are invested in the wrong indexes.

2. Unlimited upside with no downside risk is "too good to be true". Ferenc explains insurance companies invest the interest, not the principle. This provides indexes with 10-12% 10-year average annual returns while guaranteeing the principle.

3. Limited access to funds. Index Universal Life provides significant access to funds, tax-free growth, and access. Traditional qualified accounts (IRA/401k's) withdrawals are taxed. Large withdrawals typically create large tax liabilities. Index annuities early surrender penalties are typically far less than the tax liability. Index annuities are an excellent fit for traditional qualified accounts.

4. Market Value Adjustments are reducing early surrender charges significantly. Most of my clients surrender charges recently have been eliminated in a year or two. This provides full liquidity quickly.

Ferenc Shares Several Recent Client Meetings, Including How a Client Received a 20% Return with their Index Annuity Last Year

Monday, February 23, 2026

Ferenc shares several interesting recent client meetings. Many listeners will gain valuable financial insights.

1. An annual review with a client who received 20% return with their index annuity this past year.

2.A review with a client that invested in index annuities and high cash value policies in 2007, then guaranteed lifetime income later. Very interesting story through the Great Recession..

3. Planning meeting that potentially doubled income for retirement.

US household debt has hit new records. It has doubled in the past 20 years. This will likely lead to a weak economy, possibly a recession.

Average rent has declined in markets that are overbuilt. Some markets have dropped 20%. The Brookings Institute estimates there are 300,000 fewer people in the US than the previous year.This was the first time in 50 years that more immigrants left America than entered it. Brookings projects about 1,000,000 will leave in 2026. Rents will likely continue to decline.

Housing buyer demand has hit the lowest level on record. In 2005, the median income was $46,000 and the median house price was $184,000. In 2026, the median income is $59,000 while the median house price is $450,000. In 20 years, income increased 20% and house prices increased 150%.

Homebuilders continue to build new homes. The number of unsold completed new homes have hit the highest level since 2011. Building permits hit a five month high. Despite increased inventory, homebuilders are continuing to build. Home prices are likely to continue to decline.

Realtor.com states one of the following needs to occur for homebuyer demand to return:

1. Mortgage rates fall to 2.65%.

2. Household incomes rise 56% to a median of $132,171.

3. Median home prices drop 35% to a median of $273,000.

Precious Metals Continue Massive Volatility

Monday, February 16, 2026

Gold dropped 5% while Silver fell 10% in one day recently. The S&P 500 Index has stayed in a range between 6800 and 7000 since the beginning of the year. 2026 may become known as the year of volatility. This is not a surprise. I stated about a month ago that gold and silver had increased in value so quickly that it was unsustainable. I also stated it would be a good time to lock in some gains. When assets increase in value rapidly, they typically correct and have a period of volatility. The US economy is in a period of historical change. This creates uncertainty. Uncertainty leads to volatility. A correction is probable. Index products allow you to participate in potential upside gains while protecting your downside. This is the best time in 40+ years for index product returns. There are 100's of index's. Ferenc has access to proprietary software that shows the one, 5, and 10 year returns. Contact Ferenc at [email protected] to review the index performance report to choose the highest performing indexes. Earn unlimited upside potential with no downside risk!

Gold and Silver Values Plunge

Monday, February 9, 2026

Gold prices have dropped suddenly after a historic increases over the past year. Silver plunged 26% in one day, the largest drop in history.

Gold and to a lessor degree silver prices had increased dramatically due to concerns about inflation and excess money printing by the Federal Reserve. Leverage exaggerated the rise in prices and the crash. As prices dropped, many investors faced margin calls which forced them to sell at any price and created a cascade. This is a common cycle of asset bubbles and when the bubble bursts.

This changed when Trump announced Kevin Warsh as the new Federal Reserve Chair. Kevin served as a Federal Reserve Governor from 2006 thru 2011, during the Great Recession. He was highly critical of the Federal Reserve continuing to print money after the crisis was over. He eventually resigned his seat in protest.

This appointment shocked the markets and signaled a major change in future Federal Reserve policy. The current asset bubble in the stock market, real estate, precious metals, and cryptocurrency was largely created by money printing. Kevin Marsh will likely stop excess printing and sell down the Federal Reserve assets.

Volatility is expected as the economic policy changes are implemented. This could be a bumpy ride, even stomach churning for investors.

If you want to participate in future potential upside gains without the stress of potential significant losses, index products could be the best solution for you.

Index products allow unlimited upside potential gains with no downside market risk. Principle is guaranteed. We have several indexes that have generated about 7-11% average annual returns the past 10-20+ years. Some have earned up to 27% in one year recently! All with no cap, no fee, and no downside losses.

50% of the Housing Market is Chasing the 7% of Total Homebuyers That Can Afford a Home That Do Not Already Own

Monday, February 2, 2026

A household needs $132,000 income to afford the median home. Only 31% of households can afford the median home.

The median age of homebuyers is 59. The average age of first-time homebuyers is 40.

77% of households earning $132,000+ already own their home.

Therefore, 50% of the housing market is chasing the 7% of total homebuyers that can afford a home that do not already own.

This will not end well for real estate values.

Our government gave illegals loans for homes and welfare to pay for them. This contributed to increasing home prices. That left millions of Americans unable to buy a home.

These illegals built up equity that taxpayers paid for. Many have more money in equity than the average American who was stuck paying rent.

Where in immigration law does it say you can enter illegally and stay as long as you don't commit a violent crime? Who voted for this? No one. Yet American are supposed to ignore this?

Trump banned large institutional investors from purchasing single family homes.

Monday, January 26, 2026

Trump just issued an executive order to ban large institutional investors from purchasing single family homes. He stated "A person sweats, works, buys one house and can't take depreciation".

The average age of first time homebuyers is 40, the highest ever recorded. The average age of all homebuyers is 59. Homebuyers over the age of 70 outnumber buyers under 35. This is not a healthy market.

Trump's ban will likely reduce home prices in the short term.

Lennar, the second largest homebuilder in the US, has dropped prices 27%, below pre-pandemic prices. New home inventory especially in the Southeast are at all-time highs. The homebuilders felt comfortable building homes because if they were unable to sell to a homebuyer institutional buyers would purchase the property.

The US dollar as reserve currency status has been strengthened.

It is based primarily on the petrodollar. The US and Saudi Arabia agreed to price its oil in US dollars in exchange for military protection and economic cooperation. The relationship was strengthened recently by Trump. This ensures steady demand for the dollar.

In 2019 the US became a net exporter of oil. This further strengthens the US dollar in oil trade.

All major oil benchmarks, West Texas Intermediate and Brent Crude are priced in US dollars.

US and Venezuelan combined oil reserves account for over 50% of the total world's oil reserves. As long as the US controls Venezuelan oil, the US will dominate the world oil market. The US has prevented China from controlling Venezuelan oil. This is a significant hit to China and the BRICS currency.

Real Estate Values are Likely to Continue to Decrease

Monday, January 19, 2026

The mortgage lock-in effect may be starting to ease.

There are more mortgage holders with 6%+ rates than sub 3% mortgages for the first time since 2020.

As more existing homeowners have higher interest rates they may be more willing to sell their homes. More houses for sale likely will lead to reduced prices.

Lennar, then second largest homebuilder in the US, were selling homes for $500,000+ in 2022. Now, they are selling new homes for $375,000. This is is a 27% price drop in 3 years.

Inventory influences housing prices.

Housing prices are projected to decline an additional 10% in areas that inventory is at or above pre-pandemic levels. Pandemic boom areas are projected to decline an additional 20%.

Trump Proposes Banning Institutional Investors from Buying Single Family Homes

Monday, January 12, 2026

Will Trump's proposal to ban large institutional investors from buying single family homes reduce housing prices.

His statement "People live in homes, not corporations" sounds good on the surface.

The housing affordability crisis was caused by:

1. The Federal Reserve reduced interest rates too low for too long. This created an asset bubble.

2. Many homeowners/real estate investors have significant appreciation subject to capital gains if they sell.

3. Many homeowners are "locked in" with historical low mortgage interest rates.

4. Shortage of single family homes.

When the government tries to solve a problem it typically creates another unintended problem. The solution is not to ban a class of investors. The best solution is for the government to get out of the way.

If the government really wants to improve housing affordability they should:

1. Reduce taxes, fees, zoning rules, and delays for home builders who build affordable single family homes. This will increase inventory.

2. Offer a capital gains tax holiday for homes owned for 5-10+ years. Many homes would become available.

2026 is Starting with a Bang! Massive Fraud Exposed.

Monday, January 5, 2026

Citizen journalist Nick Shirley posted a documentary exposing the fraud perpetrated by the Somali community in Minnesota.He visited multiple daycare centers that have received multiple millions of dollars annually yet there is no evidence of any children ever being present. The fraud is estimated to be over $8 billion dollars over the past several years. This is fraud on an industrial scale. This may be the largest organized crime scheme in the history of the US.

Fraud at this level is organized. Government agencies had to be involved to be successful. Government agencies and non-governmental organizations provided cash, food assistance, transportation, driver's license, housing, insurance, free health care (some states), college tuition, social security, mortgages, and business loans. The government continued to fund social services, like daycare, adult care, special needs services, children's meals, transportation services, etc, yet thousands of businesses provided no services. There was no oversight. The government agencies sent checks for years.

The FBI has stated the fraud exposed so far is only the "tip of the iceberg". Not only for Minnesota, but many other states.

Investigations have been launched due to Nick Shirley's documentary. The Small Business Administration has frozen all loans and is clawing-back all grants for the state of Minnesota.

Nick Shirley was asked if Minnesota governor Tim Walz knew about the fraud. He stated that the fraud is so obvious and pervasive that a 5-year old could figure it out. He explained Tim Walz and other politicians wanted votes from the Somali community. Whistleblowers warned Tim Walz and the Minnesota attorney general. The whistleblowers were retaliated against.

Nick Shirley warned if there is no real accountability people are going to explode. "We work too hard not to know where our money's going. They work for us. Not the other way around."

81% of Somali households in Minnesota receive some form of government assistance. 78% of Somali households that have been in Minnesota for 10+ years are still on government assistance. Welfare is not supposed to be a lifestyle.

The levels of fraud being exposed is so much that it accounts for much if not all of the increased government spending since COVID. This negatively affects our economy, creates inflation, creates housing unaffordability, increases crime, and strains medical and educational services.

I don't remember voting for the mass admission of millions of foreigners who we as taxpayers are forced to pay all their living expenses.

How much longer do we let these fraudsters and corrupt politicians rob us blind with our own taxpayer money?

Wait until the younger generations figure out the reason they can't get ahead is not due to the Boomers. It is because of the government's generational theft of their heritage.

Successful Goal Setting and the Wheel of Life

Monday, December 29, 2025

Ferenc shares his popular annual successful goal setting message!

He shares life-changing ideas on how to identify areas of your life that could use improvement using the Wheel of Life.

Ferenc also shares the 4 steps to successfully accomplish goals.

Many listeners have shared successful goal setting stories over the years that were inspired by Ferenc's message.