Reality Radio for a really great future.

We're talking real money.

Maybe I'll insert a noise maker effect here.

Because it's the new year.

Yeah.

Hi.

Welcome to the beginning of 2026. Holy mackerel. It's a big year for you. I know that. It is? Does something happen this year? Oh, no, no. Please don't say that number. Oh, my gosh. I just realized what happened. I'll use it appropriately. Seven decades ago. That's a long time, my friend. Don't say the number. You're going to depress me.

Hi, everybody.

Welcome to talking real money, not my real age. I'm Don. That's Tom annoying me. But that's okay. It's his job. That's my job. This year, next year, all years. He does what he's supposed to do. He's very compliant. I want to ask you a couple of really important questions because I think they'll put today's show in perspective. All right. Here's a basic question for you. What is a bond? What is a bond? You're asking me what a bond is. You can answer it. What is a bond? That's when you have a tight association with another human being.

Okay, wrong bond. It's a secure. We're talking real money. Oh, money, money, money, money.

Relationships. Yeah, okay. It is a security. That would be, yes, a security that has a guarantee of some kind.

It has a stated interest rate. Yep.

That's right.

It is backed by someone, a corporation or a government.

Yeah.

And it has most of the time a set maturity.

You get your money back in a year, two, three, five, ten, 20, 30 years.

Sure.

There's a maturity date. Yep.

So, okay.

That is a fixed years. Sure. There's a maturity date. So, okay.

That is a fixed income set maturity paper.

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