Financial Safari, 8/19

The Financial Safari
Sunday, August 19th
Financial Safari for August 19.
00:39:13

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

This episode of mania safari just got my build not everybody can see your tax and yeah I. Are all your retirement. And information provided just what it was for purposes only and does not constitute investment tax or legal advice information has been obtained from sources that are deemed to be relying. What they're accuracy and weakness cannot be guaranteed either Peter. Including usage of information discussed always consult with a qualified investment legal or tax professional we were taking any action. Well hello America coach think this week on the financial support we're gonna talk about the emotional needs of retirement what are we really need what's gonna make us happy we're also gonna take a look at a brand new guidebook cut off the press seven reasons why successful investors use fiduciary that. And much more this week on the financial part. Hi this is coach Pete and if you've got questions on how to properly structured your assets until retirement income. You're in the right place and welcome to the financial safari. And here we are in the financial safari consumer advocate Thomas Lipscomb in studio alongside the coach that is America's wealth. Financial and income coached two time best selling author of financial safari is well a success of non taxable Keiko author alongside Steve Forbes he's also a registered fiduciary in the president. Of the international association of registered financial consultants that is coach Pete also has studio this crisper power save money correspondent. Woken and got. Hey Thomas I it was a New York this week you worry are having a good time out there stock market well it was from 3 o'clock to six while we're on the for the new York stock I'll love it how was that a fun it's a lot well I've been there three times before it's a lot smaller in person. And it looks on TV you know and that LL daily lives but yes that's so much money in one place it's just amazing and actually had dinner with Roger efforts on and that you might not know who that is a lot of people don't. He is a professor emeritus of finance at the Yale School of Management while and he's also chairman CEO of zebra capital management put together the zebra index on the market which is amazing this thing Yale professor reads these surround himself with. Other Ph.D.s than men noble prize winners and finance and and we we talked about a special report he had come out last year. Risky return within the stock market what works best at bay goalie he was proving he wanted to prove. That the more risky take does not guarantee. The more retard you're gonna get much of that for years I want to hear what he said. That's very inching now this is something that may be you might need even repeat that for some programs out there and you're safe and don't take as much risking you actually might get more return well. And redirect their conclusion of three of his gigantic research paper which any engineer out there we have some engineer folks that listen to show you wanna copy this morning at the share with you but yeah relative to the popular wisdom. The greater reward comes with greater risk the results presented here include many surprises. Contrary to theory low beta and low volatility portfolios outperform high beta. And high volatility portfolios now beta as risks and what obeyed a bunker and basically what he said in a nutshell is. You can take less risk and get better return than taking high risk and and hoping for better returning getting less they got gets there. It's the old theory that people said will the more risk that take the more return I'm gonna get. At we're told that's why do a lot of times that this them real research paper and it really breaks it down. Helen 600 reminds me of all the let's start ups that used to happen particularly in the late nineties how you might get at fifty of them and it may be one of those is around today. And you hear about and you hear about the success stories of people that invested in the company Albers a good example you're out that Cooper millionaires Sharia heard appear about all the other companies he invested and that didn't ever come out of the the drawing board and we don't even other names mile trip there on pay. It's got a lot of us thought so wanna make sure we were investing that we have safe money put aside money that is growing. Through potential index reading strategies money that is promising future income. And money that's protected against current taxes and market risk you need to have that for true retirement and then. When chip that put aside is nothing wrong with taking risk you should only. Risk money or put at risk money you could afford to lose that. Has been lost in the shuffle over the years. And nothing happened this week it's been a busy week by the way the very busy week. We have another rate increase by the Fed decision a 66 rate increase. In the sense we at the funny to question a hook but that is not the cherry on top of the Sunday for the equity markets the cherry on top of the Sunday was the Fed also indicated. In the next year there's going to be two more rate increase really well this could put downward pressure on the market because it's getting more favorable now to put money in safe places with higher interest gathered analysts and then putting a risky place and hoping to get your money back at. And even some traditional safe places and please Kirk if I'm wrong up arms actually start going down as this interest rate goes up. Yes as interest rates go up bond rates go down they got to answer only to be very careful that because a lot of bonds bonds are overpriced to begin with a could get lower while now you know we don't need the bond prices go down sure interest rates go up yet and a bond rates who knows what as interest rates go up the bond prices go down because he's the new bonds are coming out on the they have better interest on their so yeah we need to be very careful on that we need to not have all our eggs in one basket. And moved a lot of folks are asking. What's the right plan for me. It was directly from is that is what my advisor and tell me about or something they have to tell me about sure yeah and so we need to look at what we're talking about the financial and retirement planning world to keep in mind Christopher B talk about this a lot of having a financial plan doesn't guarantee every dime of windows though not a lot of Thomas what is the number one component that people need to have in their financial plan before can be considered a retirement plan. Loya is the income component that goes into so many people have a 401K the 43 B and they don't have a residual and Tom they're they're saying the Social Security's gonna covered all it is just. It is just not we have to be real about that you talking about you know solving for income as it was and Social Security just simply doesn't cut it. Yeah you gotta have income and you also have to have a strategy that locks in to gain security can't lose the money back so if you money goes up isn't it great to know in some of the some accounts that are out there these days that. If you look at your ballots this year. You don't have to worry next year when you open your and your statement that the ballot to be lower she took money out gloves that needed taking money out chart next you open up your statement and it's lower than what it was this year you're not the right place to get enough for my retirement so you want your new money to always be going up or staying the same look and you don't want uncertain what I'm speaking for myself I don't want uncertainty when we're talking about retirement accounts now and I don't want your money to be more certain you wanna have pockets liquidity money you get ahold of which also what you might grow four when he needed the most and when you start taking money out you never ever. Want that money to us to run dry now. I had some friends that had they had well. And the wheel drive well right don't get to dig deeper it's there yet already never finding the water right and my Brothers and I used to collect temples when we're younger now maybe I think it was like nine years old and had seven year old brother and five year old brother we're fascinated by his little fish in the swap that yes let's that this want. And we went we would wait around and it and we had this little bucket and we and we get some of these little fish bring them home in a bucket. Put in the backyard. And every now and then we had a going to fill indications remember those days so absolutely that led them to an air quotes include education at three weeks in the car but when we come back the buckets were dry. And there were little specs. Of things on the side the bucket those with the temple at the temples did not like the event duration of their water but as we get in retirement we don't need our money evaporate neither do it you know we certainly want to bucket of of retirement money to run dry. And if you set up proper. Income planning strategies you never have to worry about that but so many people were taken too much risk but we talked about the report. The knock him to return and the return they do get if they do get a good return has no promise of lifetime income for the rest of their life for the rest of the spouse's life. And a lot of people were are discovering that that's what's missing in their portfolio. And Thomas. I can really speak for myself and my team here when we put together a perfect retirement plan for folks which takes that financial plan that has just want some sitting there. Colin sometime bunkers could go away. And translate some of that money. It's a lifetime income they cannot live. I've never seen people happier Thomas very important for folks listening that they know that there are solutions out there for any problem may have when it comes to money world but understanding money is the most important thing. So if you're one of the next ten calls to call right now will help you reach a retirement goals and time will make sure you're on the right path. And will put together for you. A strategy to look at the most vital issues of your financial and retirement life now how to we do this well first we're gonna do an analysis of the current investments. With a financial team here. And will look at where you are currently compared to where you believe you are and this is. Something it's enlightening Lotta times so let's make sure that you really are we thank you war. And this includes a forensic analysis financial X rays and MRIs and a personalized volatility index analysis but sure you're not taking too much risk. And not getting the return you deserve. This will also include a comprehensive non biased Morningstar report under current situation. As well as recommendations on simple tweaks and changes that could be made to increase your chances of retirement income success. Also have access to our latest investment and asset allocation recommendations as well as the special retirement guidebook for what case survival manual. And dvd series in a box set. Also get a personalized long term financial retirement and income plan because the triple play because it looks at financial retirement and income to help you reach your goals keep in mind confidence is a powerful tool don't approach retirement without it get that confidence cult they have at least 200000 dollars they've retirement. When next ten close to call right now. There's no cost or obligation for this very good off we're giving up now and it's it's worth a lot of money tells were given way to any listener calls right now. Finally someone is offering retirees and pre retirees common sense and straight talked. And stuff financial double talk and a retirement sales pitch folks he need to sit down and get a retirement Redknapp together. And bill Capriati who has coached Pete's local trusted financial coach in the Austin area and his team. Will translate for you that complex financial world and it's a very clear instructions. This is an excellent chance for you to get a true. Practical retirement review. And for anyone listening right now the number to call is 800. 8511636. We are you calling you will receive a comprehensive retirement review showing where you are now. But most importantly a roadmap to. In short folks you have nothing Italy's call on and that number once again is 800. 8511636. Again that's 80851. 1636. Spoke to sell about designing building you're protecting your money and when we come back we're gonna go into more detail on how you can do that for your own family. Listen to talk thirteen seventy anytime anywhere all we already old dot com. Check your phone's glass door or visit told thirteen seventy dot com slash app. Coach you are known that well I don't know if you're known is that I know you as the king of the that it now I don't often get in here into his show with something to talk about one talking about something else now right before last break at the you have actually questions in your hands I wanna see if we can actually Dickerson answer one of these or we have to delay. IRA. So I'm looking at this age rumors to ignore it you actually want to retire. And now some seem like things that are easily believable than I did this when number four. I don't make enough money to save for retirement now did not coach what do you think about back when it sounds ridiculous to me. Again these are ready to rate rumors again are there rumors are basically on facts you not true they get what we tell ourselves that over and over again where they become true this up the gulf late spring wow that felt like this but Forbes wrote about it. And as way to help people identify. What they should believe. And so we hear this over and over again I do I know you probably do and to have Todd Thomas your thirty some years old you have people your age group that are probably tell you this all the time absolutely you know I can't afford or don't make enough money to save retirement well you're making a salary now hopefully you've and if you make it a salary now think about retirement when you're not make it a salary range and think about affecting your company doesn't have pension plan anymore no one has spent hardly anyone has pension plans anymore so you have to save on hero the gun and the sooner you start saving the more you gonna have later even so Levy like we were talking about before the show today don't you know as nineteen year old soon as you start making money put some money. Rail and it's not so nice to me this because you have the time value money underside of years and years and years to build money up and so the sooner you can start saving the better. And then once you safe then worry about where to put a lot of because they have no idea where to put my money so not to put anywhere. If I had to guess at at and so than you get to retirement and it just you know you look at your your money and it's there's nothing there and written. In my. Not a good strategy for German does not know Thomas you're talking you know people can give they can put money wake pretax though it doesn't hurt as much in a 41 K plans let you wanna put 10% of your income away. You gross income it's really only costing about 7% while car right so let's say your make and model notes they make 50000 dollars that. The year sure price of 10% of that pretax despite the -- absolutely right but it's but if you had taken at 5000 and and taken home with you instead of putting a pretax in your 41 K okay you wouldn't come home 5000 would come on the probably 3750 or maybe run it right Soria because taxes eat up a lot of that money is bypassing taxes by putting money away Nixon so now you're get a pay the piper eventually though don't have to outsource to keep in mind if you have 41 K balances and you look at -- that for you as your retirement your sole retirement which many people are. You have to just in your head Wear or sit down would have a real planner and figure out how much of that money you're gonna lose before you get to see it when you take it out loud and attacks on so it's. If mostly cited hasn't said because you're saving for around a long time some assuming you know all you remember everything for a launch is about when he first started that in twenty years later you prior have to refresh yourself remember oh wait I do you still owe taxes not all. You do and I'll start the major media organization about this an article to get their writing here coming up Erica and it's about what I wellstone about a lot some time Bob yeah never heard that before OPEC which. Obviously not many people have is guess who came up that term had to go to insulted that the it makes sense doesn't it short yet does Obama sometime momma are you looking at that lump sum in your 401K your TSP 43 B were all these different places you put your money pretax yet and it's got two problems attest to double one as we just talked about Abbie you've got to take you gotta think that's when it was right now. All right but it's the benefit test of that problem is that you don't have to pay tax when you put it away. So for every good there's a bad the money world. The secret is to look at the goods and see if the bad to worse than the goods are the bats are less than a good president and get pros the cons Ben Franklin used to write down on a piece of paper back in the day when he is making a decision he put a line right in the center of the paper. He gets feather pen out any capital candle don't flickering and all that it he put his put things on one side and bad things on the other whichever had more he'd go with a glancing at Wimbledon and Ben Franklin decision making process and I think if more people did that today. A lot of people below what tiger so the beauty is that you just have to know you're gonna pay tax on it but then you look at the lump sum. And it's a lump sum so you say got the bug got a big a lot of money and so he should be happy let's bring reach retirement you've got a million dollars saved retired while now so yeah. But why are so many people that I meet with you have a million dollars not happy. And because. You wanna guess. Well I mean I would say as soon as you starting in money out. That that million dollars and a million dollars and are the picture of big pile like you go to Vegas a gimme on the money given to me to use the two delegates I'll let. It's a bit of Jefferson let's go to those are funny as the bank of that a lot of times they don't have many of an. Now they get 500002. Dollar bills with a million dollars where you portal on your table your big table at home. You say here's our retirement let's go have some fun. So your region to grab a handful of those two dollar bills into good and has some funny gonna be like to have a very fancy place she did usually go sure you get a bottle lying to you bring a lot more to contacts and you say the corks if you good about it. But are accident to come on the next day you wake up what may be evident or maybe what two out to one at that but you look at the pile of money on the table is a little smaller and thing I should we keep doing this the piles of golden and then what happens yeah yeah now. Well there was that story about the night before Christmas when there was that the mice the mice the mouse family in the club maker place in the in the clock maker didn't do the coverage that the people demanded and so there was no food on the table hope for the family. So the mice moved Obama telling Leo well Augusta you know you're in trouble to get to retirement there's no money on the table so how do you prevent that right. The number one way to prevent that or your retirement is to make sure you get incomplete and established. With some of your money you'd. They are for every single year regardless of what happens regardless of what you did for you before you get a new check right right this very night every single year and we call that. I need to fill up and very very port because a lot of people haven't heard this concept so there's David with a look at the lump sum again. Makes you should make you very happy except if you work saving a lot more than a lot of people did. And no matter that last week we talked about the numbers and there are so many people one of three Americans haven't saved that dollar for retired incredible out of enough for a couple of caught up. Finally so if you have a million dollar saved up your you should be happy because you're way above a lot of other people are actually out yet if you don't have that plan to take the money out. Then holed a set of problems for a Kanye again when we go back to original point. In an article was I don't make enough money to safe retirement well you should be saving no matter what and once you get there. And you in your over 52 needed to make sure that that big lump sum you have saved up over the years. Can now translate into lifetime income range and doesn't have you don't have to use all of the beauty to have some of it. That's gonna give you what we call the green flag on the mailbox each and every month throughout retirement do regardless how long you live and regardless of market conditions. A lot of people again. Who had these big want sums if the market goes the wrong way. So does a retired yet and that's not good. What have you ever talks on I'll think of ever ask you this have you ever talked to somebody who didn't likely UD for who didn't like knowing where their money was gonna come from herself does l.'s greatest source during or after Thomas right. That's definitely for the process. It was and I discuss that nobody thought yeah. As I can develop some are conducted at best and the coach Pete and yet not one we're not investing we get the money saved up we don't need to invest investing is gambling does Qaeda vesting his gambling no matter what anyone tells you. If you put money into stock that'll give the blue chip stock you could go down when you when you were depending on it promotes nature markets always talk about blue chip stocks I mean they're not gonna go dog there are so perfect nowadays also was aptly picked off the trees then and then you put in the kitchen. And you forgot about it. In the U looked at a 34 weeks later it's not as perfect anymore in order so it may be perfect today but it might not be perfect in the future so very important that we get our very own retirement plans established with money we put aside. And so the very first what's the sports that wants this to save money. And if you save money the second step is to make sure you don't go back down and and get the same group of people that didn't say buddy because you lost the money is safe to. There's nothing worse than dense than going without building a nice play an up or building a big lump sum up. And not translate that to lifetime income and have in the market go the other way. At all the years he went without your back to the people that that spent all the money you get that same money they have Hamid dusting you know about that helped a lot of people took I think nobody save 3040 years retirement you went without all your friends were by the new guarding whatever and then have a lot of fun and then right before retirement the market tanks and now you have about as much money is of people who were spent and all gosh yeah. Happens a lot unfortunately surely does and so again. The sounder that we don't wanna hear retirement well one distance out as a plate one item exists and it's got don't want your money on way to and number two is this one room. You know you don't want. It's only right for retirement and number one thing to do have his save money but if you save money then let's look at a real plan a real retirement plan. And that encompasses reviewing your tax returns to uncover long term tax issues like what's going on dry erase your capital gains taxes and taxes on Social Security. Also establish your retirement income goal how much money want all the way through retirement not just next year or not not next ten years but. All the way through make sure that money increases as we get older and money needed to cover the cost of enjoying your lifestyle is Paramount. You need to have a bunch of money put aside and it needs to be money that you're going to do good things with fun things with that you need. Again that's why you plant should always ask what you want to do in retirement he cannot just get the one off the shelf right straight sister who else analyze your current investments to establish the real cost and fees and the calculated risk exposure level again the theme here is many people built up a really good luck slump but they're taking way too much risk for the times electorate in and they don't realize that while very very important that we do that as well as put together a lifetime in complaint. For the next ten dollars will do that right now if you call and we'll make sure that you get organized and you have that confident the peace of mind as you approach retirement. You know the first step really is to sit down what the financial coach it's something that we're talking about on the show today resonates with you and you feel the need to just get that second opinion or if you wanna make sure your plan really is aligned with you were goals and that very important risk tolerance that we talked about. Just colon and you can meet with bill Capriati who has coached Pete's local trusted financial coach in the Austin area and his team. Will translate for you that complex financial world into very clear instructions to take advantage of this true. Practical retirement review all you have to do was call sent 800. 85116. And 36. And you will receive a comprehensive retirement review the show you where you are now. Much more importantly a road maps edu where you need to be. That number once again is 808511636. Again that's 800. 511636. I will we come back we're gonna talk more about this Forbes article again the eight rumors to ignore if you actually want to retired who doesn't fit we're also gonna talk about. How safe does not have to be bored folks it's very important things coming up. So we talked about this that begin the show and we're already in segment three so we need to get to do it because it's funny how time flies and have fun I'm having fun because of fun absolutely are critical to have fun you have a book I could have former all right so eight retirement stakes you can't afford to make now these before during and after and want to touch on these now obviously on the radio. We can't really go in more detail that we need to but this'll at least help you ask yourself. How quote shore to being successful on the say but how much need of a real plan you might have if you're not okay and so it doesn't matter if you have a plan already they might not be doing a good plan for you we see that. Time and time again. If financial plan. Is not a retirement plant and Alison has lifetime income built in that's my opinion. Of course everyone's entitled your pen instill these days in America that I know of its capacity armed guards to get so I think we can still say that. But in my opinion I think about it when you get to retirement. And a lot of people listening or in retirement drama roads and they weren't returned to coach I could. I hope you are enjoying yourself on the road right now off your retirement if not let's look at what to get cute down the road in retirement. The very first thing is to have a true understanding of what you have financially. And no. What kind of downside you have as well it's great when the market is chugging along we always say that but what if and that's the phrase what if is overused or what if something happens. And maybe the markets over heater made the market to starts going down it's it's it's not a windier up all the time it is they. Market goes up and down they that's why they call it gamble when you put money in that's what you have to have a risk tolerance. They phrase it is overused and under understood. That. And is understood I guess to be the correct one that read it worked. Is risk tolerance because everybody I talked to so yeah can withstand risk until the risk happens there and even though we've had these like Foley head fake market goes down for a couple days or week to. People then realize the market comes back or thinks fine but in that time period with a market is is wobbly. People start to get very skittish and and they start to say what's going on that nothing was thought you said. You can withstand risk because if your if if somebody rip the carpet out from under you. Your phone bill fifth the fifth there's not much what you say you're going down so you need to make sure you can you don't it's not bad to have money good down if you can with stand that because. The trade off. In the that's why we take risk is a tradeoff is more risk you take in theory. The more gained you'll get the market's going up now you haven't got a good gain in the last ten years in you've taken a lot of risk. Maybe just maybe it's time to review who your planner is and what they're doing for you. Because you think about you take a lot of risk so you have a lot of downside built in you better have a lot of upside. And to me. It's really not gain into Europe you've realized again in other words you're not up until your out how to use that phrase before. A lot of people sitting a great gains right now but their only on paper because you're still in the so Thomas member we talked about this a few years ago you're not up until you're out there fiancee what is he talking about what it what does your exit strategy now just like when when the market's going down you call your broker and say well gosh I'm not happy about what's going on the markets tumbling whatever this happened back in 20981987. And ninety or 2007 that kind of thing. And of course they don't worry suspect awestruck he said what are you just got to bust my money's gone against and it. Well if you hold it long enough maybe to combat the peculiarities sure it did an Avian made a panel like navies may be some not good plants and a good winning words when we're talking about the nature of the income planning process and so if you built up a good balance now's a good time may be. Get news Amanda Rego sit till locked some of that gain and input and a place he can go down and yet the court and not all the money but some of the money locked in gains in take some money off the table. Vegas is a great and how do we hear overused roller coasters and other good analogy overused. But broke a sister grow up and down. But the end. And the stops you have to get off so I don't think. That makes any sense beyond roller coaster all because you have to go back and waited in the line we're give offense bass is still have to get off and go back and come back against Italy a couple of us so we need to make sure that we have the the right plan that would give us a perpetual. Lifetime income and tackle the financial mixing bowl what kind of ratios of risk and safety do we need to take and like we talked about earlier the Wall Street Journal that article about hell. They have these people they have seen in the article and of course we did read our focus we'd have time to read it wasn't it was available at the time truck but they have these people they have seen had fixed annuities with income exactly assume they had income lifetime income built in. Therefore you can take more risk than you know which you're incomes going to be plaza it. As and I think we talked about this in the past up tensions are going the way the dinosaur and obviously Social Security's out there but there are just aren't a lot of forms of recurring guaranteed income that are available so a lot of people just leave their IRA to four onto whatever it be to the whims of the market in and obviously there's word that comes with that. And so the two problems of saving in the market the month the market goes up and down is number one taking too much risk. And number two not taking an offer they got what they are Diana princess that's a credit and so look at your personal risk tolerance how much you can afford to lose without it affecting you emotionally and and if you're affected emotionally when the market to that goes back and forth and a day or week or month. The may be your ticket too much risk yet. Or your celebrate too much when it goes up maybe you're getting to that too cocky too upset I left but we also need to know you would your timeline is you know how many years are you wait for retirement because it's a lot easier I've learned this from from talking a lot of folks over the years the last 26 years. It's a lot easier to take risk and lose money when you know you still have a job we can replace that money precise still not fun. Never fun to lose money and I know you always run into people they go to Vegas as I can afford to lose this money to us at the nomad yeah we don't. They're all really look at John a flight home that kind of thing so again your timeline to retirement if you have. Ten years or less away from retirement it is time to start escrow issue in the navy FA for both of both started taken in what are what would you do the hatches. It's Marsha. Yes. So it's time to think we start isolating some of that money that it did he can't he can't get away kid go away can't think they get right as we get close to retirement know what and what you'll say it was post retirements all to you. But I say ten years is good barometer 52 and above is what we need to start analyzing our financial plan to make sure it has a retard when built them. Because the longer you can keep your money grow in. And we talked about income riders to if you if you as income writers of the longer you have human to grow and income rider in an annuity. The more income you'll have for life top can there be taken away okay time is not your best ally when you have money grow into doubt that a couple income writers myself for about seven great years now and yes I'm only 51 so I. Violated by started forties putting some money in places that I Danica and loose but initially when the market was up and down that way. You practice what you preach just want to let you know I think a lot of those out there need to know Izzy you're not gonna talk about something here on radio without. Understanding that it's gonna be beneficial to your fiduciary to richer looking offer for the listeners best interest of that that matters greatly in this industry. How can I recommend somebody get into something I haven't haven't really experienced or tried and I'm looking at a brochure reading or talking to different people there in it or that are managing it is not the same as being in yourself out. And so if you want somebody who has experienced. Things like this then we can analyze where you are tell you what I would do what we would do Marty Marty Hensley implant or thirteen 51 years old as well like me your fifty whatever I'm. What you get over fell 51 I think he's fifty. SB 52 and made us coming up quick and then we also have a younger planner in the office who's a genius when it comes to the money world partner colony's 127 but he knows more about the risk rolled the Meehan and Myanmar together Kwanzaa. And so just because he is. I think because he's 26 like you guys are gonna go to Parker has never been through a real market crash them so mean Marty a little bit more skeptical of the upside but we want our points to get the upside potential but we don't want to lose some money so according sport we want our money to be. Safe but we wanna have other money that we can explore with the can grow more than has potential to grow and on and so yeah courthouse were very very important process and anyone who is. Who really serious about planning for retirement needs to make sure they have according to were philosophy built and the planned by the time you're 52 or older my opinion now. My opinion is all that it is it's my opinion but if you wanna make it your opinion you wanna have your opinions discussed into the next ten callers right now. We'll do something we call the retirement goals and its retirement goals processors which you get personal analyze your current investments with a financial advisor. And look at where you're currently are right now compared to where you believe you are very very different. Analogies many times where you think you are compared where you really are often and when to be good to know ahead of time where you really are. I think so absolutely and what how we do this well this includes a forensic fee analysis see how many financial termites for your portfolio we do financial X rays and financial MRIs and a personalized volatility index analysis see how volatile your portfolio could be or is right now. And this includes a comprehensive non biased Morningstar report on your current situation as well as recommendations on simple tweaks and changes. They can be made to increase your chances of retirement income success that's vital right there will also put together for you what you work. Current investment and asset allocations are and we'll give you recommendations on them while and finally we'll do personalized long term financial retirement and income play and that's all the triple play. To help you reach your goals and confidence is a powerful tool. Don't approach retirement without. And so if you are over the next ten callers who get. All this our goal here at the shows to help you make the best decision possible. So if you have any questions about what we're talking about how they apply to your own situation. You can sit down and get a retirement road map put together. And still Capriati who has coached pizza local trusted financial coach in the Austin area and his team. Will translate for you that complex financial world into very clear instructions now if you wanna take advantage of getting this true. Practical retirement review all you have to do was give us call 800. 8511636. And remember when you calm and you will receive comprehensive retirement review. That'll show you where you are now but even more important than that books or Shea that outlined that roadmap that vision TD you. Where you need to be to end three retirement. In short hook shot nothing to lose that number once again is 808511636. Again that's 800. 511636. We come back we're gonna talk further about this report the eight things you need to do before retirement or weren't about retirement as well as growth incumbent protection how important they are in your financial and we currently. Intel talked thirteen seventy anytime anywhere on the radio dot com now. But let's have a look everything yeah report that we the thought bubble for the big retirement disputes can afford to make. And a number two really caught my attention it's gotten this calculating how much lead is safe because it's something my friends. And even they'll never that are older in this position you know what he had to say about it. Well a lot of people think that retirement is an easy process and you just reach that magic age of 65 and then you just hit the yeah. The Fred Flintstones yeah button and you're gone right down the dinosaur unfortunately we don't think about some of the hidden enemies. Of our income in retirement and and caring for family members who would seek fame members need help now that can be older once or younger ones there at the Steve's at all who's on vacation this week he told me do a few weeks ago about a show called shameless. I'm an ethics class and it's about seven series seven seasons long in the series now but the season six already are you really about that like two weeks ago while led into watching a lot today and have a good idea I ate a true example of a nuclear family. Heck yeah I hear many ways more ways than one world nuclear family back in the day was like all the feeling member state quotes around each other Hussain else all the different generation exactly the same thing happens here is all generations led their nuclear cause they're always. This is. A net Thomas you've never seen it. I have seen the first three episodes on it and it is beyond should the school's president hit back at it and that's saying William Macy when there was naming of the Chicago hotel that's not gaga. But the thing is. Is is messed up is that family is. It does show you know what retirement could be like because you get older people taken care younger people and older people figure even older people than does new things always happen some always breaking on the house that kind of stuff so. We looked every time it's not just about your magic dream of hey if second save up 500000 dollars we can retire we get a new income that okay PayPal bill and we go on vacation. What little the other bills about the roof what about all things that happened Lolita buffer zone. And we also need to make sure that we're in control of our our situation financial tethering on a call it making sure you're not taking too much risk pulling some of the wrist back down so electric rates we used to watch I don't want to make morbid on TV like Macy's day's parade all that contrary gold inflatable and had like. I don't how many people fifty or sixty people with a with they all have a rope and him holding a holding down back are holding back the thanks we'll go away to every and the same thing with a balloon twenty anomalies the balloon rides and I'm not never have never will. Not me that it in the immediate effect. It's just that I'm never gonna take a helicopter ride and we sell would have New York City to right. It's just recently the helicopter crash there so I don't I don't not trust that's still negative and a bit of its it's not that I mistrust helicopters is this. That's the hell want to date yet. I do fly Iowa. But it's it's still there was what of the duke of war samples of divorces happen in the states they are and have her day all right well as relief for the Waco wanna make it easier for folks instead of having this to all your homework can do yourself matter of fact. Doing yourself doesn't make that much sense anymore we can do it for you at no cost is is no cost. If you're doing yourself or will help you will at least give you information you can do yourself that come back we can check it and experts right. But why do yourself we have a team of financial specialists here ready to do it for you. It did do yourself under a member a neighbor trying to do his own roof went on and Kevin called somebody and it cost and double to get it done right uh oh so but if you are where the next Michael smoothly for the week will follow a three step process for you that creates a comprehensive financial and retirement plan. It aligns with your financial goals and your values now first one to stand what money means to you and how it fits in your life. There organize your finances seem to have a clear picture of where you currently stand right now that's what I always talk about what's find out where you are right now. Now let's design a plan from point a to get to all the way to point it down and tell you why he Ferguson before I the well the alphabet. But next we'll talk about your financial goals and retirement goals what are your short medium and long term goals what are your dreams and will work together to clarify your goals of their crystal clear and there are tangible and other words they can be done. Finally we're gonna create an actual step process to get you on the path towards financially dependent. This includes according spore for us we spend a leaf plant as will's a lifetime income plant with. Clinical Philip built in this process is not something we do want to set aside on the bookshelf though flexing your doctor your financial fitness needs constant attention to route your career and retirement so don't worry though will be there every step of the way to guide you and make sure your money is working just to start if not harder than you did to get. If you're next week always at least 200000 safe retirement and again our strategies do work best for those of you with a over a million dollars safe retirement. Just like we've been tackling problems on the show today we can help you assess your plan and your outlook for retirement to make sure that you are on a secure path. The limited but complementary review hope you determine how prepared. Your investments are to handle all the retirement the balls we talked about on the show those include inflation Social Security health care emergency so many things the stock market volatility. Risk taxation. But here's the thing folks most important we want to show you how to produce a lifetime. Retirement income plan that house right votes and income plan. Last Jordan higher lifetime. Not just a lack span of a bank account. Now to Colin and me with Phil cap riady who is coach Pete a local trusted coach in the Austin area is 800. 8511636. When you calling you will receive a comprehensive. Retirement review that'll show you where you are now. But much more important it'll show you roadmap to keep you where you need to be. Folks there really is nothing to lose call on him and take advantage that number once again is 800. 8511636. Again that's 800. 5116. 36 folks we'll join you next week right here on the financial so far. 'cause severe hey. Information on this will do the strength purposes only and does not constitute investment tax relief funds information contained. Sources that are deemed to be reliable when I received a complete this cannot be guaranteed their Peter. What guarantees can easily enough money to strengthen claims paying ability you can company. Individuals should thoroughly review the contract specific details of call us incompetence of withdrawals from defer to the winds are still.
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