Common Sense Retirement 10-14

Common Sense Retirement Planning
Saturday, October 14th

Common Sense Retirement Planning


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

Well good morning and welcome to common sense retirement planning and so grandeur here I'm Tony dale. With me Rebecca Kincaid without. Philip Allen our dear friend who is. On his way back from the adventure of a lifetime. For those of you listen to our show regularly you know Phillip is. By far the most entertaining part of the show and is just one of the most delightful human beings on the planet that he's had his dream is all life ago. And get a peek. Alaskan. Brown bear I wish I could show you the picture I'm sure it'll be on his wins are wins second. To put it on the just to. He wrote for it is the biggest thing I've ever seen in my life it's insane eight feet tall kid they had this is why it is still. Guys like it's almost like you wonder if he's stepping back really far and has that they're really close to the camera said that it looks. I don't think so I think it's just that album big. Here's a man who thinks so anyway I Philip will be back with with tales of ledger domain next week. In the meantime you're here and so are we and we are injured. They show by the way. If you haven't listened to this reform are actually quite an entertaining we'll show because what we try to do. Easy reforming EU and equip you with things that are going on in the world of investing in finance that that you may not be aware of because frankly. The mainstream. Financial press is every bit as biased as the mainstream political press is and the buys sees in this case are always. Oh and don't worry about a thing pay no attention to the man behind the curtain everything's fine take all the risk you want it's I it's all good. And we all believed it because we are not investment advisors were retirement planners and thus. We want to make sure that people are safe and their retirement that they don't suffer big losses in the market and that they have any income they can count so that's kind of our focus on ratio now. We. Do the show as an informational. Entertainment program. And we do not encourage you to go out and make any kind of changes and what you're doing based on something you hear us on the radio. It is why is well we invite you to come in and CIA street cost you nothing to do so. Complimentary comments and retirement review we call it and and that way weaken tailor something that is specific to what you trying to achieve so having said that we do what we do. Through. Madison avenue securities member of immigrants epic. Where there insurance. Products are employed. They are backed by the financial strength of the issuing companies we only work with top rated companies when we when we use a sort of thing so it's important to note it. Lastly. A brief. Thing we do and always have done. We have always done through aliens of fact that we we believe that the greatest source of wisdom that I remember us we always began this program. We something from the Bible and end today and I read from olympians one of my very favorite. Books and the possible. And I want to preface this by saying to you did it we are living in just. Exceptionally. Crazy times. Look at what's happened meteorological Lee with these massive storm system I'm live and try and this weekend we got a tar NATO in trying not to pink one bit. It tore things up on Lake Lanier in downtown we were without power for three days. And you can see the fires out of Napa he there's a potential for possible war in North Korea do in other words. Things are heating apps speak. And there are a lot of people pray a week so still people in Houston implored their portion suffering now and people on Napa. So weren't Regis. This is Paul speaking the flick and I'm not saying this because I am in need for I've learned. To be content. Whatever the circumstances. I know what to do is to be need. I know what is to have plenty. I have learned the secret. Of being content. In any and every situation. Where it welfare or hungry. Where they're living in plenty ran one. I can do all this to him who gives me strength. My god will meet all of your needs according to the riches of his glory in Jesus Christ. No matter what happens in one's life is the point he's making here. No matter the circumstances we are confronted with and we we have no control of these things. Things are going to happen it's just the nature of life down here on this planet isn't haven't. And therefore. The secret that he is pointing out here is. What perspective do you choose. If you choose to walk by faith and up eyesight if your perspective is from a Christ centric. Faith. The end when things are good he rejoice when things are not good you sustain because you have. God in your corner so that's kind of the overarching. But we have and we talk about this before the show even started Tony is. Really thank goodness we have faith is it's good night on the country seems to be coming unraveled right before our very eyes. And politics seem to be continuing to infringe on even the mash pleasure full things if you're a football fan out there it's even come up Politico not a political. Football and keep clear. And it's not a team. On T sort of back at the end. The show and a little bit of a different direction and we have it's been a lot of time talking about this but I wanted to and packet for those who are listening to us today. We talked a lot of it today before the show started about politics. I wanna just cover and talk T about some of the things because we hear a lot of political things wind. NFL we hear a lot about things happening overseas in terms of war and how are refugees nicest. Fighters are surrendering in droves. And what effect that might potentially have. New thing is coming to light in the Nevada sheeting in Las Vegas a lot of different things I want addition touch on Summitt is saying did you not talk about and and really bring home and wrap it back around and how that can affect our financial environment for our consumers and people that we work. I and shameful. To admit that for the first time this week. I really had tuned in to care wrap on when a six point three shameful I know I know it's GSM and she is my fish as elitist talk Simon she's wonderful. Well she was talking about now what did you see what you thought about this to Tony is she is talking about the idea and expressing the idea of why nobody thinks that it's highly in usual bet thousands of crisis fighters are now surrendering. Instead of wanting to blow themselves up before when they signed dime when they signed on to be would end the whole Montrae is. You know if you die for your cause if you blow yourself up go into in harm's way you're doing it for the calls. Then you'll go to heaven to be received by 21. Virgins would still like a trainer second opinion hey you even banks and it is a good idea. Whenever the anyway says the idea is and what she had said was. The odd thing is and what we need to be worried about as a country is that people are trying to come and our country. Says no thinks that this is I don't nobody thinks that we should be looking at these people like wild a sudden you saw yourself who's. Donald Trump it does like he's you'd just be this yeah. Last week or another you know it's funny dubbed president reports that UB ED is a stunning how many things in this agenda that Donald Trump has been pushing have happened. This week alone the Supreme Court true pressure point. Threw out the resistance to Trump's ban on these people from these various countries so so so that's not bad that there are those that plane if they were planning to come over here. Secondly we have put a mall in California and in California's gonna fall off anyway maybe. The EPA said they're going to dump all of those anti coal industry rules this week socially coal industry he we've gotten Keystone Pipeline through we army and there'll be in a budgets have been the biggest thing at all. This is huge and you you sort of touched on and is is trump. Has. Sort of become the champion of the majority mean the majority elected him. But we've all been cowed and intimidated by a small majority of people who have the megaphone. The press Hollywood. Is music industry entertainment in general is incredibly disconnected. From an everyday Americans totally. But now we have guys that did that because this NFL things he went to bat and we are seeing the entire. In FL. Brought to their knees. And having to turn around and do what the American people want and buy bread of the surely this week's 64% of us. And that is something that is not lost on the United States chamber of commerce and the democratic and Republican. The rhinos so. So I guess Kennedy picked stiff wind this up as forced political conversation goes I think. I'm not felt this hopeful. About. The potential. Of the every day American to be heard since Donald Trump got. Well it's. It's staggering that things. That the left wants to happen and how we're having to try to combat these things. And that's a good point too is I feel like he's listening to his base that brought into the audience in in the first place and that's important. Because lord now is I don't think there's anybody in Hollywood are in the NFL or congress for that matter. Is making me feel better about paying 17100 dollars a month for yes you heard me correct 17100. Dollars a month. Out of my pocket format namely a five for health insurance. It's still sucks. 400% increase overall ridiculous. For four for the average 400 yet says don't tell me Washington that you feel my pain well. Amber at this is a good leading into the story when you start to me fired up too early this morning well good for you and and I'm and you should be because I think we are hints in essence and an inner. Philosophical. Revolution in this country. So here's where the rubber meets the road this essentially. Our government. Is. Completely out of control and here's here's the story from. A sovereign and the US government lost nearly one trillion dollars in fiscal. Year in. 2017 so far. So here's a little history if there was a time centuries ago that France was the dominant superpower in the world. At all overseas colonies enormous military social welfare programs. Public hospital beautiful monuments. And all of it financed by debt. France like most superpowers before and after felt entitled to over spend as much as they wanted. And their debt started to grow and grow. By the even the French revolution 1788 the national debt of France. Was so large that the government had to spend 50% of tax revenue just to pay interest. To its lenders. And despite being such dire financial straits the French government. Was still unable to cut spending. All of France's generous social welfare programs plus its expansion military were considered untouchable. So content. And 1788. In fact the French government overspent its tax revenue by 20%. Increasing its debt even more. Unsurprisingly. Revolution came the very next year. There are presently a handful of countries in the world today similar to France and their financial mixed. Places like Greece. But the country it has the most unsustainable. Public finances by far is news. The United States. According to the department of treasury the United States government took in just short of three trillion dollars in federal tax us to pot a record. In total. Government revenue exceeded. This amount. But. The United States government has managed to spend Wu any more than that. Four point one trillion dollars so. To make up the shortfall they added. Nearly 700. Billion dollars to the national debt. Plants are I don't mean your TE. Said let. At soccer he's say that to shore up the shortfall midday and it how much did that 700 billion. But that it. Could we never. Remember that there we had to perpetuate getting added day that we add more dead Italy think think the thing that's ever met way I assume I think the little story at all dementieva and I all right start thinking okay. I as when I make sure I was hearing you correctly. But it Mark Twain said history doesn't always repeat but it usually Ryan so execute that the bank commands we have this story here it's the Tony do a story hour. Our site. If he did the federal government's cash deficit. Was 865. Billion for the last fiscal year. That number would have been worse were it not for the debt ceiling that legally froze the dead in place now that's astounding right. But. Chest was the case last year. Where the cash deficit laster was one trillion. This past fiscal years saw no major recession. No full scale war no financial crisis no bank bailout in other words it was business as usual and still we have this problem so here. Is the question for you to X and I want you to think about this question I'm going to posit to you. Because it has a bearing on your 401K. It has a bearing on all of your retirement plans. And this is that the crux of of of our thinking philosophically it common sense retirement planning in this is why we this is why we do we do because we believe. Darius stuff coming to listen to this here's question. What do you think is going to happen to these numbers when there actually is a major war to fund Horry major recession Horry banking crisis question number two for you. Could that happen do you think. And it. What's going to happen is this overspending. It's gone on for decades continues. What will be the long term consequences so here we say. With a twenty trillion. National debt remember that we only produced nineteen point five trillion in GDP a year on board. We have pension shortfalls to government estimates the total net net worth of pensions to be negative 65 trillion that's money people are hoping to have is income that. Maybe sell in May be now. Thousands of people. Are joining the ranks of Social Security Medicare recipients each case of that pushes up the cost of those programs even more and the board of trustees for Social Security Medicare. Say openly that they are quickly running out of money. Then there are trillions of dollars needed to maintain and upgrade our infrastructure. So. Here's the obvious truth none of this. Is sustainable. You study history and you can go back to the Roman empire of the French revolution that is alluding to and what you will find. Is that the world's dominant superpower is variably. Lost due. To spending itself into decline and ignoring the consequences now why am I telling you'll it's. Because it is our belief that if you don't have. Something in place to guarantees your income to pay for your basic expenses. You are in dire repair or more most people. Keep in mind we've gone from pensions based system to a 401K or or or defined contribution system where you're responsible to say for yourself for retired right. So. We use in an instrument called reeks. It stands for retirement income generators this week this is something it was a created as a result of a steady. By Stanford center for longevity in this society of actuaries. On how to create lifetime retirement income they're very concerned. You should be too. Our belief is the EU must have and on this is a quote retirement savers need to be able. To. Savings allocated so their money doesn't disappear and before you follow the market. And they have to be able to pay for their essential living expenses housing food utilities health care yet okay. Why how do you do that. He usually answer. You go to your computer. You'd type B and CS RP dot info and as our web site. You come and see us as a cost to anything we sit down and we can show you how we can create a read. Or retirement income generator plan for you to take care of those base you have a foundation. Now you're gonna have extra stuff that your gonna wanna do and maybe you ever wrote some risky assets got plenty ways to deal with. After we make sure that you are safe. So please please come and cius CSR peed on him. Warner. Heat again. Senate things that you say you saying keep naming but it's worth repeating that Tony. You're an hour talking Philip is only here we sort of unpack articles that we found on the web. But this is from Stanford. Center on longevity so that means a couple of things one. And their people out they aired their whole lot smarter than we are in when it comes along jedi studies. Who are finding these things out and have really studying and really drilling down on how these rigs. Can make a difference in people's lives and they good night. Everything that you just read in that article about the US government. How they lost in nearly a trillion dollars in the fiscal year 2017. Everything that you just described in when you're reading hours writing some things down. You said government like government pensions Social Security which is government government government. Well it sounds like the depth government's doing a really crappy job and made you their own portfolio and being able to pay their future obligations and now. That is a little like on the sassy Afghan it but I mean let's just can't take off the go see your best what did Aaliyah. And the other number that you said was true twenty trillion in debt that it will look back into the western GDP can nineteen point five. Adding to everything we produce in the year although and I just take on more dead to me right. S what did the conventional wisdom has been with the government says what is that where you call with that. Well let's unpack the programs the government has their Paul's and Social Security is one of them. 46. Trillion dollars in debt. 46 trillion dollars that's twice the amount of our national debt. That is a government plan. So if you haven't ligature Social Security statements. But if you order print out the Social Security statement that no bones about it they'll tell you on the statement had eight it may be here in May not be here. So when you're building your play and you need to keep that in place there was a god it was being bandied about the add the effects of low wages. And here and we talk about this before the show started today to eight but one of the things he said was first on the baca. Two things when FDR crafted the Social Security program in 1937 it was never intended to be taxed well what happened yeah. Thanks so he dat say things can be change to an event or somebody die and obviously. The thing is when this program was crafted it was only intended to replace. 30% of one's income. The reality is people are living in leaning on. Social Security to be too big of a piece of their financial portfolios as far as it being mayor. So that puts additional strain on that in time once portfolio and lastly the increase cost of medical coverage. Is eroding the buying power of the Social Security payment says the individual that was being interviewed says my Medicare premiums. Yet and only late in May 300 dollars a month by the time that is taken out of my Social Security check what Hamas surprised today it. Well here's what you do is you go ahead now why you still had the opportunity. Ego and now when you take advantage is overvalued market. A U locking and not overvaluation. He locking me and said it weakened Harmon income stream for years and know if you don't wanna do because we told you do. Duke because stay for -- DJ for crying out loud saying yes Stanford and the society of actuaries is not just stand for this was a joint study yeah say these are people who are intimately familiar with numbers longevity and things that extend longevity. Says if this sounds like cute and it sounds like some and that might happen to you could not run don't walk to that computer. And look this up it's CS RP dot info or common since retirement claiming dot com. And one thing we want you know ways these rigs that were discussing. Most to invest some people just tell you all are you it's just have a good diversified portfolio. In no problem. Take a former shall draw already you'll you'll be fine cousin Marcus averaged 7% well. That's the bad did did all of these pensions that are 65 trillion dollars underwater is made that the market's gonna return Sampras and it hasn't eloquent how they're going to now exactly. So our belief is you need and it's our belief these rigs as I say a Stanford University. And consider for the longevity say is that what you need is. Retirement income generators to pay for your essential expenses so let's get that squared away first. And to do it please go to your computer come and see us John underwent a good time CS. RP. Dot info sticker crowd will be back I have done it. What how the welcome back to common since retirement planning I'm sorry minor Texan got away from me do you scared me did NASCAR. I can't help it. But debt welcomed back the comment since retirement planning if you're just joining us this program is informational and entertainment. Based. We eat trite to arm you with important information to mainstream press is not giving you. So that you can make some wise decision to match you're. Financial matters in new retirement plan in which of course we are the upstate original retirement planners we hear the original retirement planning radio program. And we we believe that. We are the best and down. Album on our clients with Terry and that's not just arrogance is just actually we've been doing it long enough we can we prove to behave the way. I'll also what we do we do through. Madison avenue securities member of ignorance of people we are used to feature its products are backed by financial strength of the issuing companies we only use companies are. Highly rated companies and had a choice by the way of dozens of them. And so keep keep on and my one quick thing and I'll turn it over to Uga that I am I. I had a bitter irony and mentioned it in over this last week we had some bad storms in triumph in Ireland. And in other places as well so we were out without power for three days here irony. So we were schedule. Last Monday. For the guys to calm and put solar. Panels on our roof and take us off the grit right. Well we did they couldn't come because there have been a storm and we had no power. Itself. I don't act like Alanis Morissette song. Isn't that ironic which by the way if you listen lyrics from Pakistan if she uses really isn't that true example of irony but that's another conversation. But anyway I thought it was a bit of a bit of humor in my experience. It it is for sure and it is an anti sheer luck. It isn't register actually my luck is the Nam my fortune my blessings for a nominal. If that's the worst thing let me I had the good news day I hear ya I hear you well some people may not be Evan again today if they plan on using their 401K. As a vehicle to spin off retirement income for them. This is an article by Michael hit sick. In heat it's about how it's basically nearly for forty years now. We been hearing that four or when K plans are the key to a comfortable retirement. We don't allow would you say that well. They give a tax break to workers. Contributing part of their paychecks of their retirement nest stakes the planes were designed to supplement Social Security benefits and employer pensions. Instead of they become substitutes. Not supplements. For employer pensions. And there has been a continuous attack on Social Security benefits we just talk about that just a second ago Tony is far is it being underfunded. This is another interesting survey so we talked about Stanford this morning now I'm going to mentioned T Boston college center for retirement research. And talk about how that for a wake cape plane ends are destined to fail no millions of Americans and let me. Let me cripple that market that by you slime. Boston college's center for retirement research. Demonstrates. F 401K plans are destined to fail millions of Americans. They're not offered by an F employers. They're not taken up by enough workers and for most people their balances aren't large net for about a decent retirement. All of these factors weigh heavily on middle and lower income workers the segment in which the participation right about stimulation are disproportionately low. The authors of the surveyed their part the Boston College Elise communal and and key to end. Point out that it is important to know the difference between a 401K. Type defined contribution plan on one hand. NA traditional defined benefit plan Social Security on the other their polar opposites. They'll latter provides lifetime benefits. Both our provides stating retirement in com this is beyond. His statement. This is very important. The latter provides lifetime in Comden offense and their she's referring to the 401K. Only if there and managed carefully. Not their owners during retirement. They face their risk of meter spinning too quickly. Now leaving their resources are spinning too conservatively. In this is what we say on either side of the coin. Depriving themselves of necessities and this goes back pain and in Haiti and windy Stanford study of long dead but he that talks about how you had need to had your basic living expenses covered by guaranteed money. And basically their conclusion is individuals are on their own. Don't build your retirement plan that depending on a government plan. Yet ape personal plan and create a personalized pension that she can't ever outlive. This is an important issue because it goes to the heart of their retirement crisis facing millions of Americans. The rise of 401K would not be such a problem if these accounts for about a in an effective way. Has been assets for retirement periods that are growing longer. Or is social security and employee pensions are she teams are pensions where securities used to be well I was say. And it did and and. On that. Social Security comes down employer pensions were secure as they used to be. Well we just talked about how the state Ritz Arabic millions are failing. Social Security is failing and not think were make an up so if he's your next. Most two most retirees are facing a benefit cut. Three year pensions or through senses security but it's common and you better be ready. Which which leads Rebecca 222. Point you made the beginning of the program we cheese. We have. Bin. Program. To trust to look to the government can help us to look to the government for our security. Looked at the government had when things go south they're they're gonna be there for you. Well both state and local governments pension 65 trillion dollars of underfunding South Carolina is the big is the poster child for bad funding which. They got what feet deep 3% funding for South Carolina all it's awful a case of people have been counting on that now it's like well maybe so maybe you know I am okay. So there's all of them but here's the that the larger problem most people don't have pensions. So they've got as you were brightly pointing out for one case night race which leads to an important question. We know without a doubt. This historically the typical retiree experiences anywhere from three to five bear markets during the course of their retirement. Well we are in the one of the longest bull runs in history. So here's a great question for you what do you suppose the experts are saying about all of this. This week on Monday. Nobel laureate Richard favor he became the Nobel Prize winner in economics for 2017 on Monday. Said the following in an interview with Bloomberg. We seem to be living Indy risky as market of our lives. So Robert Shiller who we've quoted on the show isn't the only Nobel laureate who is worried about our stock market sleep walking toward disaster. So in this interview. Baylor which I mentioned was awarded this prize said. We seem to be living in the risky moment of life yet the stock market seems to be napping. I admit. I do not understand this is the Nobel Prize winner here right. Could there be some risks do you think at their he says I don't know about you but I'm nervous. It seems like when investors are nervous they're prone to be spooked. All the prize winner here is who's who was talking right. And make these comments. Echo Robert Shiller now let's go back to what he said. Professor of Yale School of Management won the economics Nobel Prize 23 team created the B Schiller. Kate ratio. Cyclically adjusted price to earnings ratio K this stance and like CS RP stands for common sense retirement planning at award. Data dot dead dot info. So. Here is there's a problem. We have two of the brightest minds. In economics. Signaling read it. Flags. And you act it would be no different than if the lifeguards put out flags at the beach. Saying there are sharks in the water. And we got a bunch of clowns on the beaches around you send. Powell no no unknown or not it's trying not going on those women. School. Is decent. To go back to what we said earlier. If we are talking about not investing. Not investment planning that retirement planning which is willow what we do it common sense. Retirement planning. The first thing we're going to do is creating read for you. Retirement income generator. Exactly what Stanford center for longevity richt means you have. Because they say eat you must have a rigged to focus on sources of guaranteed income. Dvd ability to cover essential. Expenses housing food utilities. And bare minimum health care until four. We want to make sure. You are covered for the hat. No matter what happens to the stock market to the first thing we're gonna talk do you that is how we deal riskier. Because you cannot once you pass 5055 years of all you don't have time to make up in coming bad is Ers are starting makeup losses in the market. Dad is without even discussing taking income at the same time the markets losing money. If those two things happen concurrently which is exactly what happened to retirees in 2000 and general Seminole way. They lost one massive amounts of money their portfolio they pull money out. To take income live on and down the road a few years they find out they they are principal has been. Not ought to wait a virtually nothing in the nickel back to work. That's no way to retire. So. Please. Why hailed the market is edit pop. Beat a Smart person and don't be the person in the movie theater that smell smoke and sits there and wasteful somebody else buyer. In minute for the exits. Leave the theater now go to your computer her typing in CS RP got info movies are worth a flip anymore anyway. Go to sun has set its henchmen think so he has harmed he got in folks and come and sees. That it out an interesting dynamic that I've seen recently. Says the difference between I believe a female investing philosophy. Is me in a male investing philosophy at like ten totti a little bit about this and get your take on this is my experience this week. Say first of all we discussed a recent C biased a good bit on the show and as far as the most recent thing is what she would your feeling at the poignant right now and ask and you make decisions. Well right now the recent C by Estes. Everybody's on a high on a stock market higher now because the markets ever value we talked about BK pre show and so forth and how the market server valued. We've got the super low interest rate environment it's enabling these companies to buy back their own stock. Which in sheets to stop prices up which investors law. Artificially inflated sweeping victory there he short I'm seeing inside a new killer faintly with a husband and wife and I commend to see me. I'm seeing a wise. It has a 2000 an eight reasons he biased. And say you know Huntsman comes and he has a 2017. Triumph Korea biased. In May and how silly it that is a slippery slope. Yeah it really is senate. The other thing is. When we saw it start talking about that ten year window to retirement and we start talking about making a shift to a more conservative style on investing I want to be clear what that means a but it doesn't mean. First of all it doesn't mean anemic returns. Says on what side of the Coleen bench when he seventeen regency bias says I don't wanna miss out on all the rides in the market. Well the 2000 and any recent C biased you do we can talk about that a little bit too which is. They have all the time Monday Il lost. Just digging out from what happened to you 90000 innate the other retort I have to that particular position is. 2008 almost ten years again write a funny biz is about a ten years or care right. Well that was ten more years that you had to tack on to your accumulation and retirement how month and that is gone. So it's interesting to see guys dynamics because you'll have a wife comes and with that very different risk tolerance than her husband has and that creates some tension in the relationships of. Signing a good ground. Where we can still make money when the markets up. And the reality is when you don't have to worry about overcoming the losses. He don't have enough to cover off the ball in terms of return to have a really nice retirement income poignant. Yeah an end is he did the point you bring up that dynamic between men and women I think women are a lot more sensible than in. A lot of times in regard to this because women are in far more focused on security. Absolutely Mahan by nature are risk takers you know hey all watch this you never hear women say it. Etc. from fat noted belly flop simple and just embarrassed our children out stay married now no we don't you don't. That good anyway it's better when it comes to two to this the the hiring new unit bossi has. Is it and I don't hoops 75% of the cases the men are the ones making these decisions. Right. And here's what we saw last time to sort of play into this in in. Real world example. I remember so clearly. In 07 in LA when this began to happen. Mitt it was. First the losses happen and keep in mind he never goes straight down in good and they come up a little bit and people get helpful than Gaudin again and can make a Motorola coach Bryant go out that they dislike of the roller coaster going down after it's gone into the top right. And these men work which they they were. They know how to tell our lives how much money they've lost and their 41 case and it caused a tremendous amount of marital tension. Mall finances the way in May who we've read this a million times funny is is is a number one. Calls of disillusioned carriages had an end in not to mention the physical repercussions of not satellite links to put some money in the burger products the discord to front and up. And the cowboys star are you in about money so that if she says. You're a dummy actually united dude and he's I don't call me a dummy up I was doing what's best in it makes her in their tanks they are when there's a middle ground is when I'm prepared and that is. An amber and that's what we are proposing to you actually the middle ground that we. Adhere to its common sense retirement planning is essentially this. Are you really get approach retirement income generators. Which is where we start and that's not always do we do a lot of things. We can show you some risk portfolio stuff too and we can show you. It'll went on a long term care and estate planning in all lot of staff but. We don't wanna talk read anything until we make sure. They do you have what does Stanford center for longevity says unique which is a raise your retirement income generator to pay for essential expenses now here's how law horse works. Our plans have some basic characteristics the first of which is we want to make sure is Rebecca juicy and the U. Can't lose money now the white dissatisfied. If you know did that the market loses 30% and you didn't lose anything. Yet. We just do you risk your portfolio. But. Conversely. An insight and perspective. During the periods even bad markets when the markets are going up for awhile. You'd there have the potential to make money on the upswing periods of markets and lock at the end. So that when the market. Begins to coax out again you're right we used your your locked in were you warned not to lose any of that so that's the first thing we want to we wanna do with the risk. Part of this equation for its secondly. We want to make sure that whatever you create in whale off your life savings. Not only safe from market loss. But you are safe from running out of essential income because we you're going to creative. Retirement income generator. That has guaranteed income built into it. That and Kate give you it continued opportunity to get raises. We even talked about inflation today that. You have to not just can't guarantee income like LP in general annuity would you view. You have to have a plan a Reid get that will give you the potential to get raises to help you stay ahead of inflation so. If that sounds like east common sense approach. Eighties that's why we are call common sense retirement planning why were the upstage a regional. Retirement planners. And we're local we're out one of these infomercial. People we hear on the radio from lord knows where. You become serious were over kind of by Michelin off the panel. And due to come see us let us put together retirement plan for you go to C is RP. Dot info and make an appointment. I'd snow we saved like. A million marriages right now galaxy Iceland and that's our secondary opens it is started secondary marriage counseling service activity I can't when that goes on in our copper trades. I know that may end here a year really we really. Don't focus on the on enough we're talking about this and it really happen to me twice this week. Where you had polar opposites in terms of investing philosophies and so another way to look at that too. One is you wind it's a win win in terms of investing philosophy satisfied in investing philosophy says that Brandon then mail and the relationship not always the case right. That's always the case but should the Tom Wright must Tom as far as experiences of what we've seen. The other thing it does is amazing you're basically giving xmas is to position of safety just the more conservative style of investing where you don't lose money. That gives you permission. To take more risk with other assets is able may not that. Well if you are CT on and a half and you are working in you or been saving enough for a one K. You don't want to attack a a huge matter risk with that pot of money this supposed to secure your basic living expense is he's able. I can't leave it if you freaked out and a half you have an opportunity available to you now. It was not available tee before example what do you this here's where employment this. If we can secure your basic living expenses and perceive and chunk in an actually secure a chunk of that. That's only the risk portfolio in dollar cost average back into the market. With future contributions inside your 401K. Had other risk portfolio that sure. Hasn't what's the word I'm looking for they sure risk tolerance desires maybe this way this. Maybe they satisfy your appetite for your appetite for risk there you get bids in happy wife happy life. But the reality is extremes are everywhere. I'll I. Only eight and one of poisoning now. There's a reason that you had. Counselors the Bible talks a lot about this how how how and a multitude of counselors there is wisdom. If you had marital problems he would go to CA. Parish council chair if you had dental problems you would go to see an expert in fixing teeth if you had foot problems you see a podiatrist. If you had heart problems you see a cardiologist these are experts because you need somebody that knows that. When it comes to talking about money which you rightly pointed at us one of the most. Emotionally charged surely she's in a marriage. It's nice to have a mediator such as ourselves. To help unpack some of these potentiality is. Of risk and reward and so forth and in. We do this a lot when she's not just Cano he touched 88 helping to really. Translate. Gosh we are accounts are founded to really trains like with the husband's on desires are for the future and what the last desires are for the future in terms of what she can we stay end. And what they wanna do with the money says having days conversations. Lal and having it done in an environment where you have basically an interpreter. Is really powerful and can help move things forward in one direction or the other way everybody walks out cold hand missing include buying. And much right. I wanna talk about. The next financial crisis before it spots. Because we Europe AG said earlier Rebecca bat teen years. Past the greatest financial crisis of our generation. And recently I read an article by the Financial Times which is a British publication scaling their Wall Street Journal. David Newton Mick Williams asked. Have we learned anything from news. Who knows what he says these crises. With massive bubbles followed by enormous buster becoming more not less common. And with thanks to more and more dad driving more and more credit making everything more and more unstable. Today for example. Markets had never been higher yields had never been lower. So welcome to the brave new world of return before he risk the slightest mistake from here on. And need is a long way to fall. All over the world. Lots and lots of allegedly clever people are working with highly complicated risk models. And they're wondering what's going to be the tree. He's going to be recession rocket man in North Korea credit bubble in China how about massive monetary mistakes by central bankers. And the truth is. Nobody really knows. Nobody. If you or out they're taking risk if you're doing what they've hit a cool we're advisors. Telling people to do. If you got a 401K work and you get on the 800 number and you talking to some thirty year old and a cubicle and Saint Louis or whatever. And he's saying all you gotta do is just do that you don't target date plan I got a good chemistry you know junior is tolerance just. Feel good diversified portfolio dollar cost average into would be allocated block a that is exactly what you were told in 2000. Nobody told you was gonna crash and when it was crashing your most people are being told don't do anything. To stay the course we don't get out of the wrong time. As which we're told 708. What I can tell you that. You come to see us we're gonna say hey. Listen and a figure out a way to put into protection around everything you sprinter like creating year. First. Let's figure out on not to lose any money. Warren Buffett rules for investing our freedom for you again. Rule number one never lose money. Rule number two don't forget world number one that's Warren Buffett although we've we've adhered to that rule as well as the Stanford. University school for longevity. Rule of use in using rigs retirement income generators to guarantee income to take care of your essential expenses. So. It's time for you if you're over the age of fifty basically stampede to investigate what he retirement plan looks like and forget. This investment plan that's great up until age fifty you haven't haven't this implant take a risk you can do it you got time to make it up do not do this. Once you are within ten years or so of retirement. Because you are going to potentially. In danger yourself. In Europe retirement years buying not protecting yourself beforehand might actually have insurance for your automobile. Your home. Your health why would you not. Create what amounts to insurance for. Income and this is you mentioned risk tolerance just a moment ago I sent an end and asked Tom goes back so fast I don't feel like we ever get to all the stuff that we wanna talk about. This is from the Wall Street Journal Tony and it talks about how financial advisors when you go see to see the mainstream financial advisor. They know the drill right when you come and they are you know they're gonna give your risk tolerance questionnaire. What do the statements inside this particular article is. Is they want yet felt the questionnaire and again measure of your appetite for risk how much are you willing to lease to get to where do you want to again. The answer is nothing. That should be your answer so let me show you how to accomplish that. Let issues how to create a read gore retirement income generator for your entire life for you and your spouse. Come see is it common sense. Retirement planning go to C is our PE. Dot info call us at 806876768. I don't care you get here begin here and get yours we'll make every just for you need.