Noble Capital Radio Hour, 3/11

Noble Capital Radio Hour
Sunday, March 11th

Noble Capital Radio Hour, for March 11.


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

Coming TU from the noble capitol studios in Austin, Texas this is good noble Capital Radio hour. This is your source for the secrets to success and investing with the exclusive tips on how to grow protect and preserve your well. Don't lose a penny of your hard earned money to them. Investment strategy. That you know all Capital Radio hour teaches you how to achieve their financial stability and predictability. Need to live with confidence there now let's start BI. Hours Friday and welcome to the noble Capital Radio hour I'm your host Chris Bradley joined as always by mr. Romney Navarro in mr. Jay Newman to my three. Wonderful business partners. I'd so if you're listening to is now under wondering what we're all about. Noble capitals and alternative investment company that specializes in retirement cleaning private lending and real estate and this is our platform to communicate with our listeners and our investors. On what makes us special what we do it it's a little bit different than everybody else so excited be backing your on this wonderful weekend yep. And a wonderful weekend. He just followed by a great week I actually had a nice long weekend spend some good time when my kid goes so I'm kind of ready to get the sucker off the ground. That's a good way to do it out and hit it. If Julie you learn more about us is personalities you can find is that noble capital dot com. You can also text one words noble radio to 313131. That's one word noble radioed to 313131. And you can get information on us you can also received some of the private lending deals that we've highlighted at a couple of moments in our shows who have some of that information for you but. You know last week we talked about. A getting caught in the annuities trap we broke that Darrell get. Jade with this who's spends enormous amount of time getting financial planning with retirees and he was able to really talk about. You know the good the bad the ugly like everything in between with annuities and shed a lot of light on that that was that was a great show Essex thinks Jane. Our right of coming events. Only guess and things coming up that we like to tell you about was when share with the before we jump right into our topic for today. Leo let's talk about we've got coming up this month so we are in March right now. We've got a couple of events coming up in Dallas and in Austin and Dallas I've got one on to excuse me Thursday march 22. On any at a restaurant called Texas. I think it's what Texas fish and I'll maybe fission I'm like that you expect this big cows and it's awesome on the there's my first I'm for the day guys. He hasn't called me out I'm not aka there is a guy all right. So yeah out Dallas and going to be great it's actually RD pretty full but we are scheduling a second one. Either way text does noble radio when word noble radioed to 313131. Same goes for Austin where we have one on Thursday march 29. Fleming's Fleming's in the domain super local area. Come for the education is my their own. Come for the education but definitely also take advantage of the scenery the domains an awesome place. It is you know it is of great to see last week we finished up a couple of our tax workshops. And they were packed it was crazy to see how many people showed up these tax workshops. Although you know in hindsight maybe it's not that crazy there's a lot of tax stuff and in fact. I think that's our episode for next week right we're talking about tax bombs and it is some of the tax related separate summit next week but. This week we're jumping into a really exciting topic. And that is long term care it's not something this is of all the topics that we have especially in our retirement cleaning this the wine. In my opinion and everybody avoids talking about. Because it's the ultimate check in the mirror you're talking about what are you going to have it right there at variance to take care of you. At the the final years of your life when you're probably going to be struggling with some type of health issues and that is not an exciting topic. But it's something you have to talk about. Yet Chris this is jade and speak and I'm glad to be here again this this morning and this afternoon. And we have. You know we we decided that as long as retirement planners. You have to be able to get into the the tough spots. You know that people don't like to talk about and typically. I frankly procrastinate on that and you know those two areas we see with our clients that that people kind of wait for the last minute. For different reasons I think it's kind of an emotional thing for for most of us is long term care planning. End of your life long term care which we'll talk about it mourn and also. The state claiming but not you know burning up your state make entry things are in order. Both of those things have to do with mortality. In a lot of us you know wanna avoid that reality as long as possible. Yeah definitely especially. I mean even the mortality side I mean that's the ultimate. That conversation but you know there's a decent chance. And maybe some and hasn't statistics but you're gonna have some type of the health. Need health issue. You know and you are finally here's your life in mean that's even worse to think about you know someone else is gonna come and need to rely on other people to take care of me. In my twilight years or potentially tiger high degree of probability. You know. A long long term care is typically. Defined as the last three to five years of your life. OK so just think about Mel Miller Park and the last three to five years of your life. And you know a lot of lot of folks might not know this but it's not there's no coverage from Uncle Sam from the government on this and Medicare does not cover long term care. Now to be candid you can go broke and prove that your broke and then you get to qualify for Medicaid and then you get to stand in line. With all the other broke people for your long term care I'm on this in the last three to five years of your life. So for that reason alone a good retirement financial advisors gonna have this conversation. And work with the clients to plan ahead for that. I'll tell you a quick story I had a client and then about six months ago I'll never forget this is his name is Joseph. And we were in our second appointment we were we always talk about long term care so I'd like I always do ask you know so what are you guys haven't place. For long term care Joseph and his wife are sitting there. And you know just spoke up immediately. And said you know didn't. I have a native American culture. And you know whenever I think about long term care. I just kind of go back to the custom and and tradition that that we have been doing for you know for hundreds of years and that is. You know and our elderly. Get to a point where they can't keep up with the tribe bunch hunger. My plan for myself is just to do the same that we've always done them and how much can only take take me out to the wilderness. On a cold night. We're gonna have a little ceremony. And then they're just gonna prop me up and leave me under a tree and then the tribal just move on. And he said that with a straight face look them right across the table that me and felt like a little poker stare down there for a minute I. It could have scared for real or. The last lap board to consider is I think god his wife let me off the hook I I looked out of the corner of my eyes and she was she was laughing and while Murdoch and that show your pull on my leg and he didn't even. Thanks for softening us up because this is a more mid conversation nothing about and it is what it is that's like people don't talk about it they don't. Talk about it and I mean people a lot of guys are finally Joseph right it's like. We're like are you dominant Dominic kick the bucket for so does the misses will take care means and then. You know we'll set something up for her. That to make sure she's okay but I'm not really worried about it I wonder if this is that the. Have you had a conversation like this reporter with your name may be your own failing or maybe you remember when your parents this. That's a conversation I had with my dad we joke about this because. We use humor to cover up a serious topic you know and my dad he's often a tummy like. I'm not ready goes that deep sea fishing trip yes I think it up in. They knew as they get older I figured out what is argued about you know and and then later you know like a joke with him and they go dad you better be careful onstage deep sea fishing means that not yet not quite that. But that's how we we have ace that topic that we must really uncover here. And we don't want to give you wanna miss that. Earlier there's there's stat that's circling around and it's 70% of people. Are gonna need some type of long term care. Yes and I as 70% so basically the majority people are gonna need it and Aaron and he got this from earlier jade is based in saint he got to be broke. To qualify for the government assistance for this right so if you've done your job and your family's gonna have something more. Your spouse your significant other if you became related some form of wealth. You're not gonna qualify. And this is kind of that weird missing part right the missing part of the of the plan. It's like you you have you're not going to be broken you've got all this other stuff in here so look where is your long term care peace. Where is that it's tough that the one of the hardest things is this is an unpredictable ones you don't know if you're gonna need it or not is. The fact is yes about two thirds of us are gonna need it in some form book there's a third of us that aren't gonna need it. You know for whatever reason we just you know have a quick demise. And there's not a prolonged long term care you know season at the end of our life there. So they define long term care typically is not being able to perform the activities of daily living they're called eight deals. And there's six activities of daily living. And you know at some point when when you're looking at qualifying for long term care of most of the benefits the insurers they look at you not been able to perform two of the six activities of daily living as the qualifier. For then become the beginning to receive whatever. Insurance or financial assistance that you should that she set up for yourself. So you know a lot of people don't know what the eighty l.'s are but I would venture to say Romney that you probably can't perform at least two of them today. That's why I'm and that's why I'm paying for his right now it's business as well bathing and showering for sure is right and the media that's a big when I mean think about that if you can't get there you need some assistance yeah I can't I can't do that. Our personal hygiene is huge again another one right he's skiing got the dressing I still have them under control FF DR disaster as the near you you did the best rumored so I don't know coming from my perspective to brings back to earth I look at this as. Maybe from a from a place of ignorance. This sounds like insurance that I'm gonna pay money and it's just gonna go down the drain if I don't need it and end and the cool thing is from when I know is. Not necessarily. Right there are products out there and that's what I wanna get into the next segment is kind of breaking this down a little bit of their products out there. That have multiple use you can do meanie thinks. And we're gonna break down that strategy. Here a little bit on some of the subsequent segments but. That is. Odyssey a big thing that I hear people tell me like a no I don't have that many arms it's because I'm I'm pretty healthy and got good genetics I'm I'm gonna live pretty well and I don't think I'm gonna need that I don't wanna spend money on something im gonna get no. Are alive on its that I hear my my customers that's a tough place to be right and you know what that is that's just another easy button for them. To ignore the real proud defer gas they differ. All right so we get back from the next segment we're gonna unpack that just a little bit more you're listening to the noble Capital Radio hour and we'll be right back. You've made the right choice for top thirteen seven feet. Listening to the noble Capital Radio hour. Your secret to growing protecting and preserving your well. Through alternative investment strategies. I welcome back to the noble Capital Radio hour I'm your host. Chris Wright we're joined by mr. Ron Navarro and she knew and as always we're jumping into a really important and falls sometimes. Awkward conversation topic we're talking about long term care in retirement or talking about those. Final years those 35 maybe seven years. Where you need some assistance and we're talking about some of the myths in the styles and and what's involved. With long term care at you wanna download this episode or any of our episodes. Orders learn more about as he can actually find us at noble capital dot com. Yeah he also follow us on the social media platforms FaceBook instant grand Twitter word we're live on all those. I want to remind everybody if you've been listening the last few weeks we've been doing a segment called the seven common retirement mistakes. Long term care is one of the retirement mistakes something that people avoid people miss. If you're interested in learning more about anyone the other mistakes Iraq in this really get to talk about today. Join us at an upcoming seminar we've got an Austin and we've gotten in Dallas we've gotten in March April may we have an every single month. It be great great great host you gonna be great for you walk out with a little bit more information in. If you had before so how you do it text noble Radio One word. Noble radio to 313131. Awesome yeah but that's good so. Let's break into this little bit more in Kenny get instant more than technical aspects of long term care as I understand it. There's really different like types right there's different things it could happen in a lot of the drivers for this is. How well did you prepare. That's right. You know keep people confuse. Long term care with long term care insurance and it's amazing think about that that's easy right I mean is if if we're talking about long term care. You know pick people just assume we're talking about having some long term care insurance but look let's talk about the what the issue is first. And then we'll talk about the different options on how to find these things which long term care insurance is one of those marketing vehicles. But long term care itself is end of your life care typically the last three to five years of your life. It could go on longer than not if you have a prolonged cognitive disorder. I bet most folks average around three to five years in medical technology is keeping us around longer so this is a kind of you know the eight mounting risk for folks as we do live longer we've got to have our money lasts longer right. So a couple of the mainstream. Long term care avenues that you can look at today in America are. Nursing homes. You know the little fashion nursing. And everybody knows nursing home everybody's been torn down and what's that percentage is boggles your mind. It was a good one month they mine wasn't a good when he there that wasn't a good one you know is bad because I'm mad I volunteered at those places around the kid yeah it is you know. Yeah it's mode they honestly it's it's not most people it's I'll tell you our listeners right now would probably agree it's it's probably not your first place. Yeah it is kind of sad and the first thing that popped in my mind as we probably need to go visit some folks and nursing homes more often other than that's a lonely place yes that's true though. I'll tell you this that the next one is. A little more upscale. Version of a nursing home but it would be like an assisted living center. And the you know one of the big differences there is is just a medical technology essentially they've done a full hospital you know on board for progressive care. And I am more and entities and somewhere that you know you probably feel good about. About certain grandma. You know for the last 3510 years of her life with clothes and entities. I'm. A it's imputed value makes lighten it up there goes into talking about long term care for US seeks long term care stuff here yeah. The the next one this is really. IBM in the industry does this is the the direction I would probably go. But it's basically stand at home it's and home health care and you know it's basically get the setup to to die in her home. In the end and not go anywhere but have they care come to you know. You know what most folks don't wanna be dependent on family members on on children which is is always a little puzzling other countries look at that much differently than we do here in the US but it. But this would be essentially just planning to spend the last years of your life in your home. And having the medical care and and the help continues to get through day today. You know with me and I do know it's different having grown up with the Hispanic family night my family's Cuban. Dick it was common for this to be the end of life care unless there was something bigger even even so these things alzheimer's we we tried to. Control that at home as much as humanly possibly can't. On I don't want that I personally don't want to I made this might sound a little crazy but I don't want my kids that haven't worked my butt you know. Accidentally get my dad's almonds and things like now is like that we're never gonna be in this position the minute we get there. Do something and and frankly that's why it's maybe it's a pride thing can't get their have to plan we I had to I can't just show up when dance that. I can't do anything for himself yeah. Oh yeah. Well so then may be the fourth one is is good for you than you may be go for. With says the baby boomers coming on strong and retiring and all the wealth that's been created. You know now what we're seeing in the industry as well what we call these. Retirement resort or retirement lifestyle communities that are popping. And these could be in many different settings but typically you're gonna have a golf course. There's going to be. You know I like to say it's kind of a cross between Disney World only a cruise ship and a golf course and hospital if you can imagine that have. Eight which means a starts earlier two great people are going kind of like joining these facilities knowing. I've got this great environment in as things start to progress I've got the resources here to take terrorists. I mean you can live out on the on on the eighteenth hole and an nice Condo. And progress all the way to two critical. You know care. You know in in the same facility in the same community. And end the thing I like about that is is staying active and the fellowship. You know that's developed to whether it's that are assisted living senator of a vibrant. Community. Where people can stay active and stay mentally engaged is very I think. People just want choice they don't want to just whatever DF. Whatever. I don't know the default situation is biggest default as you go broker's default is your kids figure something out people want choice I wanna choice. So I've got some numbers here forgot that I hope you make the tour is seen here throws the ball so. You know if you look at your average stay of three defied theaters this kind of give be arraigned on average cost of these facilities. On the low end it's gonna cost about 250000. Dollars per spouse. To go through a three to five year long term care program. And on the higher and you could LA as much as seven figures a million dollars per spouse. And Emmys are nice retirement communities putrid lifestyle communities. So you're looking at a quarter million to a million dollars per spouse and yes there's some discounts that can be negotiated equipment has a couple. But this is a significant outlay at the end of your life in the thing that that's so difficult about this is you don't really know. How much you're gonna need. And you're not really sure when you're gonna need it so. There's a lot of fear of the unknown that comes with this long term care planning. And this is one of the things we like to punch right in the faces a retirement financial advisor remember. We're trying to help our clients retire with lifestyle confidence and fulfillment. How can you do that when you have when you're fighting that goes. The fear of the unknown about if you're gonna have to lay out a half a million a million dollars at the end of your life. For long term care he or does that come from do you have even. Eat eat you lose that fight every time in this you do something you do and it can really rob founder Julian retirement and what we wanna begin to get into in the in the upcoming segment here. Is what's the right way to plan so that that doesn't happen to you you can move forward with confidence and lived your life. And deal with this a known threat. And in a way that's that's judicious and responsible. And it's not going to steal from your golden age as we should be out within your life and do what you wanna do. DDG the numbers to fifty on the low end. One mil on the high end. Cows like where's the lower ruined. Yeah I shouldn't 5250. Is starting point that the lower low and it's probably the deep sea fishing trip and Brennan wrote the dead that's the way I don't want that to be my my destiny and and I I also. Mean a million dollars for the high end when you stop and think who's gonna do that how do you do that how do you even isn't even an option. Seriously isn't even an option if so how I'd pick out one this is why it's so complex is because you don't know the timing and you don't know the expense. What type of view cool are you able to use in plane full hour including your strategy when you don't know the timing and how much. I mean that's like the heat of the giant unknown variable in just soaks up as much money you wanna give it. And that's kind of that's that sounds kind of dangerous to me so. You only get back on the next segment I think disorder and is as how do you find this how do you responsibly. Make decisions and incorporate this in your profile yup. In Bali if you're not having find on the show because this is a fun topic to have a little fun our website noble capital dot com or text those guys noble radio. When word 313131. Here's a scene of the noble Capital Radio hour and we'll be right. There's spears then snowballed Capital Radio hour did bad. Can learn to achieve the financial stability and predicted bill. He'd tell live with confidence. Hi welcome back to the noble cavalry you hour I'm your host Chris rag when we're talking today. With Romney changing course about. For really exciting topic we're talking about long term care actually where kind of diving into some of didn't you know the mysteries of long term care. I mean there's not many products he think about. That you don't knowing you're gonna need it and you don't know how much you're gonna need that that creates some unique challenges so. We're trying to break that down in the last segment we talked about the different types but there are some bumper numbers we said 250000. Dollar it's a million dollars this is their the range. Yeah I got things really ring as numbers they're so huge I challenge you to go and just cool that for a second we're not making this stuff up. Google it and add this is like the products that we chose to talk about this is this is it this the industry if you can't. If you can't perform those eighty Els what they stand for him. Activities of daily living death if he can't perform those that your cost goes up if he I made yourself began brush your teeth dress yourself. No just you and yourself is the toilet. Somebody's got to do it and it's and it's costly guys. Yeah so we don't always dig into these topics that no one ever wants to talk about now until we do a very broad spectrum and noble capitalize and mentioned in the beginning of our segment. We're an alternative investment firm that specializes in retirement planning but we also are the leading private lender in the state of Texas and that's a whole real state played a competitive they can. Be a part of your portfolios that he wanna learn more about us. He can find is that noble capital dot com. But let's get back in it is some talk about the money part the. How does work OK so let me let me ask you guys and when you think of that the typical financial advisor. What is gonna be there solution there or go to for long term care mr. and mrs. client you should do away. I think the low hanging fruit is just come picking on. On long term care insurance yet maybe some added an insurance product right right it's set up the long term care insurance policy which typically says I'm gonna pay end. X amount of premium. You know monthly or quarterly or annually over time. And whenever I can't perform those ideals than the benefits gonna kick and I have to wait for some elimination period a period of time. Nine the 120 days and if I still qualify then I start getting their daily allowance that was set forth and that policy. To pay for my long term care to a maximum benefit okay. So on its face that sounds like okay that that could make sense except that. If you don't use it. You lose it so all that money you paid in overtime is gone it wasn't a Smart savings or retirement vehicle that was NS or have an insurer against the potential risks vehicle. That's a bomber feel like auto insurance right mean. Yes you may or may not use it now you know the other so then the the other thing about it is that. When you look at it pain in overtime and you think you're locked in to a specific payment. If you read the fine print of these policies. Especially on and in the last 567 years. Long term care insurance companies leave himself wiggle room to arbitrarily raise the premium on you despise in you a notice in the mail telling you sorry Chris. I you know we know you've been diligent Payer now for five years so we're gonna raise your premium by 50%. And if you don't like it then you can just cancel your policy it will keep everything you've paid an up to now. Or just for you today Romney. We will let you keep pain in the same amount but we're gonna lower your benefits and half. So so I resort lifestyle just got converted to an assisted living facility to just like that they just pulled the rug out from underneath you in the worst thing is there's a most an article in the Wall Street Journal recently about the long term care industry as a whole long term care insurance. And it's it's really been squeezed and it's it's of it's an unpredictable. Direction to go now so I'm proud to say on the air here is that we do not offer long term care insurance to our clients we don't use. Traditional long term care insurance policies. And the reason why as we don't wanna put him on shifting ground. We don't wanna put him in an unpredictable vehicle like that. But also we have better vehicles so. You know what we do really comes to it to bear went when we talk about this concept of self insuring. So our our program are what we encourage our clients to do is to plan ahead and self insurer. Self insuring means essentially. Save the saving up money. And putting that money to work in a vehicle. That's specifically set aside to deal with long term care insurance what on long term care benefits and costs okay. So there's several vehicles we use for this but probably the most popular one that we're seeing right now. Is a hybrid of life insurance long term care vehicle and one. And this is really an interesting way to tackle that the long term care. Risk in in a retirement portfolio. Let's say I'm in my sixty's. And I wanna set up a bucket of money to deal with long term care for myself where I can do a joint contract with my spouse. But let's just pick the number let's say I wanna set up a 500000 dollar buffer a bucket of funds. That if needed is gonna be there for me to put to pay for long term care. So. I have to get approved for that policy so there's a certain health raiding I have to hit. The beauty is we can set it up on either spouse so there's some flexibility which Oswego list. And we can also set up on both spouses in the and a joint contract but what this contract allows me to do is. Treat it like the traditional life insurance contract that something happens to me. And I pass away my beneficiaries get 500000 dollars tax free just like life insurance. But here's the beauty of this one. If I need to draw down against the 500000 dollar death benefit while I'm living. I can draw down against the death benefit. And pay for long term care costs at the end of my life and then by the way does draw downs our talents free. So think of this I can set up a half a million dollar tax free about it. Buffer for long term care that's either gonna go to mine to pay for a long term care cost or. Whatever is not used or maybe all of its gonna get passed on to my family as a tax free death benefit. Yet tax free is probably the biggest sticking point for me there it's you're. Mean tax free at that level is is incredible to think of I actually think anybody that's listening it especially if you're listening in Europe. In your forties or fifties this isn't this isn't for 607080 year old. Only guys yet if you're anything like me worry about the type of stuff this is also for you. That the Sunni jump into this the better and easier it is for either the more economical what is. Yeah and you know one of the question module that some might that caught Austria what does that cost me well. I can pay a single premium for 250000. Dollars just one time and get that 500000 dollar bucket available to meet. Or can pay it out over time I can be on a long term tenure pay even a twenty year pay if I start early enough. So this is a vehicle anybody can come in and is set out you don't have to have 500000 dollars or 250000 dollars to get to set up this is something you can get started now. In deal with this risk that we're talking about in a Smart way. Yeah well I'm still paying into my long term care is strategy if you will on with which is also of course a life insurance whose strategy. While I'm still paying its there's a sense of comfort that kind of comes over me thinking that wow that's taking care of yes I still have to fund it at the end it's taking care of. All right and sounds like you to solve a couple of problems writes I'm no longer throwing away my money in the unknown at this into something that I may or may not need and my rates may change my premiums can change and instead I've created some type as a you know I transition vehicle right of wealth transition or reckon uses for long term care. And when we didn't even diving to some of the tax benefits that the jade was was hinting at here but it sounds like to me like that's one way you can employee. A common retirement mistakes so it's that time it's time for. Once that's our most common retirement and estate segment Romney. Does the best. February by far yeah we should do that we should just keep that on the yeah and maybe this music playing in the background to. Honest AB yadier. All right guys so we've been going over these seven common retirement mistakes the last month or so we've been dropping. You wisdom nuggets all over town. Com here is the Fed excuse me that fifth of the seven common retirement mistakes. Sticking true to the theme on the fifth common retirement mistake is simple it's getting derailed by long term care. Bone yeah there it is if you'd like that it just kind of smacks insider facing DNC coming don't let it happen. And so many people did it really is one of I mean think about we're talking about the seven most common mistakes are common issues that people have. And this is retirement mistakes this is one of you just straight to get derailed by which means you take no action. You get a pork products that doesn't have the type of benefits the actually need or you get paralyzed. And you know you know trying to take action but she never do. Yeah you when he gets that point even planned move it's you've lost you leave your options are essentially Altidore it's whatever you can. Whatever he can scrutton scrape together again I think the biggest challenges is it how I found this thing right. That's right and that's what we're talking about so. You know I laid out a very popular life insurance long term care hybrid vehicle that a lot of our clients are jumping on board with. Just because the Smart money approach its attacks it's definitely a tough to play with the tax free in time. But my money take this back to one of our core staples and our retirement plan what we call our retirement blueprint. It is a lifetime income playing in the shows exactly warrior and time's gonna come from for the rest of your life. And that includes the last three to five years of your life. So you know one of the things I don't like about some long term care advisors early call product sells menace. They use a kind of a fear mongering approach to get people scared and insecure. And motivate them to buy long term care insurance. And the fact is is a few properly plan out your lifetime income plan. When that time comes when you need to transition to long term care. Then bees. Forms of care that we talked about earlier nursing home in home health care access that at assisted living or lifestyle retirements senators. Those are those can be put in a budget with all in cost. For your entire life lifestyle all your living expenses. May be there's some extra discretionary spending like giving gifts or maybe a special trip that you take every now and then. But for the most part those are all in cost so if you planned out your income for life which is what we're going to be talking about and promoting from the beginning. And as you shift your expenses. In your lifestyle over to that last three to five years of your life. Then yes your medical costs are gonna be a little heavier but those are all included all inclusive and means. Long term care facilities. Or avenues of care that we're talking about. So what I'm saying is if you connect the dots here if you properly put a lifetime and come plan together and you substantially checked the box on long term care. Yeah he lives and. Yeah I do is set another way. Long term care is just an extension of a lifetime in complaint. Right it says that symbol. If you're building a life timing complain it's one of those components that in the plays into and that goes back into the whole self insured style leaders discussing. But the great news is there's actually really cool hybrid vehicles and light accomplished more than one objective that's right that's really going to. So you're talking about the income thing thing that we're just discussing beats. The most. On the thing that people most worry about entering retirement as income bets that goes without saying that's just what people worry about. The thing that people worry about the second most. Is getting quality health care and quality care so it's it's two birds one stone it's knocking out the bigs with one shot I mean but let's let's put it this way quick pop quiz. How do you make sure your not gonna run out of income and retirement. I don't have an answer for you. But definitely if Larry he's got to go back and listen to the show you know browbeat it into and where's your retirement blueprint Romney well I mean he's got a plan is is the answer that's tennis I playwright and I'm glad they do get shares of a lifetime income plan that's how you mainstream Doran out of income like the earlier you guys are going like our first to take some imaginary it's you know I'm not trying to trick you that's all you do is you set up a lifetime income plan. And once you've done that just like Chris that they and you've got the long term care challenge substantially solved. Yeah and then you get the full then you focus on fulfillment which is like are one of our objectives for our clients meet its road because we spend so much time stressing about all of these things. Look just get your stuff together yeah. Did you sell bought attending complain and get back out there in the world and have a good time he gets a race since fulfillment it is there really is a raced them for film mural to Tories do the last word that's the only one the next segment Rania appear ready for both sides are TrueCrypt unfold Paula that's been put her hand so we're gonna judge you confusing to the noble catheter you hours and we'll be right back. I'm not on the news of the day with a topple online ads on thirteen seventy dot com sock thirteen seventy though right choice. Back to they know. Old capitol radio hour we're bringing you exclusive wealth building strategies used by financial industry professionals. I welcome back to the noble capital where you are here host Chris Wragge when we're talking today about the long term here. It's one of the topics that a lot of people tend to avoid or are they at a minimum. Can get stuck and analysis paralysis in their fair what do I need I don't know and it's too late but it's not. It's not really too it should be an active part of your retirement and and that's what we do it noble capital were talking about. A service that we offer for our clients' retirement cleaning or a lifetime income plan and that's what long term care is all about it's part fewer lifetime income plan. If he'd like to learn more about us in some the other topics. That we open up and force you to think about you can visit is that noble capital Dhaka. Yep you can also check us out on our social. A platforms specifically FaceBook insert Graham and Twitter and we heard live on FaceBook so deathly calm and come see us. All right so. What is long term care anymore saying long term care is having a lifetime income play. Yes that that really sums it all up and again this gets right back to the core. Disciplines. Of retirement planning is we've got to make sure that you you have income coming in for the rest of your life so. This is one of the first things we're gonna dive into it would within a client is is really breaking down what those cost starter. Living expenses lifestyle expenses including health care of long term care. Cost for the rest of your life and then we need to solve. Where that incomes coming from so you can get on with live in your life and doing what you plan on doing in retirement all along what you've been working hard for. So. You know that one of the things that. That we talk a lot about when we're putting those lifetime and come plans together is safety. And predictability. And the beauty of it is one we put up a lifetime income plan together. We're not just jumping on a spreadsheet and you know putting a bunch of assumptions then and just hoping and wishing that did this money's gonna last based on assumptions about how the stock market's gonna perform. We're gonna have a conversation about how much of this income do you want to be there are no matter what happens with the stock market. How much of that income do you want predictable guaranteed mailbox money regardless of things like the stock market crash earlier. A war or. Something that that happens it's out of your control politically that sets office. A slow or. Even worse. Slow economy or recession. So this is the time now with specially with the stock market where it is. If you're looking at a retirement date. You know 3510. Years out. If it's time right now tend to get in and start working on planning and putting this together and and I know this topic of long term care is a sensitive one to our listeners. It's hidden in May not be a reality for you yet. But the fact is is that a lot of our listeners have gone through this with their parents. With aunts and uncles and this is the real thing guys. You don't risk it it it's gonna affect approximately 70% of us knew I was having the conversation with my wife. About a month ago. And it was it was one of those things where I was trying to eight start the conversation you know when you start trying to kick something often is the new conversation just kind of plant the seed. I knew that was as far as I was gonna take and I was right she did not want to talk about it as anything else other than that. Let's talk about taxes means she would have rather talked about anything else than in the long term care is like give me paper cut. More interest in paper can hurry right here and oh yeah right off she just did not want to talk about it in and I think I know why and again thank stop and ask a people's. What is it. It was it it felt more but it probably felt like that was it. They way unique and you can hear pretty quick dig into the history box and find out who and her family she's had to watch that with you know who is she experienced that with them. Haven't put that back on yourself and know that this is gonna happen anyone name my kid to connect to see this that. That's a quick conversation killer right there that's that triggered it to his her grandmother's birthday who'd passed recently they go and it was. I mean it's close to home just started this in his refueling facility in you know men than in nursing home didn't write whether you're playing for yourself and being responsible. And chances are you've probably seen somebody go through it in your thinking to yourself while I'm okay what kind not have that happen to mean so. Once again now we're talking about ways to avoid this semi. One of the things that we do is we put online at these retirement blueprint dinners we would love to have you join those retirement blueprint dinners we hold them in Austin. And in Dallas in general different areas so well you have to deal if you want to attend is in his attacks. You get is attacks we'll get back to you will schedule. You send one word noble radio to 313131. That's one word no radio to 313131. I've got another one free guys that if you're out there are near a listener and you've got long term care insurance right now. We we might or rattled you a little bit with our discussion earlier about long term care insurance one of the more sensitive to that folks and one of the things that that we want you to do. Is come on and and let's let's actually do a review of what you have. And we will break it down for you and then there's no charge for this this is part of planning. We're gonna take a hard look at everything you have but if you want us to do a specific deep dive into your long term care insurance policy. Will reflect back to exactly what you have to make sure that your understanding is correct but also talk about the potentials for again that shifting sand. And changes that could happen and also let's make sure its inflation adjusted. In its reach it's we're looking at this this cost. And in terms of the reality of of what it's gonna cost and that's a big one we. That we don't wanna miss here is inflation news that 250000. A million a million dollars is in today's dollars by the U. A lot of thinking and catalog isn't especially if you're tiring like us in your twenty somethings so bring that bring those policies and again. You can you can text. Noble radio. Yes one word guys noble read you one word. And it's 313130. When Manson read text. That's pretty easy come on and talk to us we'd love to sit down and get to know you whether it's 21 of our education seminars or through. Actually a consultation employment either one of those local late this is really just to get to know you. All right so let's see let's put some pressure on our Enron mean Navarro and see what he's got today for the last word. Last word. All right so I'm gonna do a little different typically are going to steal a quote from the Internet somewhere and bring it in here we talk about and you guys make a little funny. I'm gonna tell you what I think about this and I thought they would I think about it internally so it noble capital we preach. Lifestyle confidence and fulfillment. But today we talked about how Teresa fulfillment it really is it's a race to fulfillment you cannot get to fulfillment if you get blind sided. I long term care if the day comes you have to drop 250000. Dollars on the cheap. To pay for somebody to take care of you and then guess what to begin next year and then guess what dude again next year got a plan around the guys. Got a plan around that so three to fulfillment stars are planning. Move. The race to fulfillment starts complaining that's just ordered. That's pretty good I was like I'm more dropped his proverbial Midas is yes that's pretty good you know I'm not gonna make funny you're welcome. Whether it's guys that. That's really kind of the you know the most exciting moment our relationship with the client is when they start to. Have that weight lifted off their shoulder because they finally have a plan that's simple they understand it. They know they now have a guy did that they can sit down with anytime they want in time and weather weary sounding board. Whether or just they're kind of challenging new ideas. Bringing new ideas to the table. Let that that. Relationship. With with the local retirement clients is this sacred to us where were here to bring. That lifestyle confidence with and fulfillment that everybody deserves so absolutely Cummins he has come to one of our events we would love to spend some time a team get to know you better. Are right next week we're talking about another agreed subject but tax bombs and and to be honest with you we know this is on your mind we saw that because we had a couple of events and during what you oversubscribed so I know it's on a lot of your minds and that's we're gonna dig into you. Next week of potential tax bombs that we all see when we do retirement explaining things for joining us this week I'm Chris. I'm Ronnie and I'm Jason and you've been listening to the noble capital ratio. We'll see next. 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