Common Sense Retirement 11-11

Common Sense Retirement Planning
Saturday, November 11th

Common Sense Retirement Planning


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

Well good morning welcome to common since retirement planning and Tony gale with my A this friend in the world who is finally going to onerous with his presence is gonna be here Tony Rebecca. Well thank you didn't sound that excited the whole common. This name on Amy you know what I read I don't study your style is not forget it I was on my way to say you journeys Rebecca king cake. But at five Phillip has not been with us here for a few weeks a word like excited to have him aboard back in the fold Ali law to be bit. Age you may never have listened to the regional retirement planning radio program this might be your first time so I should make an assumption you know and they say that that. But we are the upstage Richard retirement planners this radio program is quite different a lot of these other. Johnny come lately shorter programs or just in commercials and in and that's pretty much what to get. Though of course the goal is to each of you come see us which is the same as everyone else what is different about the show as we really wanna try to. Fill you with some useful. Information about what's going on out there in the world and engagement think. Knowledge is power so so bad there's a lot of which are going to hear today is. Briefly staff that the mainstream press is pretty much ignoring. And we are living in some amazing times so all of that being said. We want to do noted that ten. We'd love to have BC news will be ready you take some time to think about what we have to say today. And the thing is is is everything we do and always have done we've done sort of based on car world view which isn't a Christian Christ centric worldview and we always start the program. For that reason was something from the Bible. One of my favorite verses in the Bible is second Timothy 17. Tony and Rebecca and I and the comes in retirement team believe it's our job to try to. Reduce the financial fear as much as possible in people's lives and second Timothy 17 said the spear of the lord haven't given us a spirit of fear. But if power. Love and good judgment and that's really what I'd take his my verse when I'm dealing with clients is they have the power. To reduce that fear in their lives all through the Bible. The one thing is fear or not that's why Jesus came into this world so we didn't have to fear in their lives. End. I had actually have a different verse picked out to read to David before we went on the air we were sitting around talking to actually put showing some very funny commercials about mass suicide squad action scope. Her and his conversation but I did we're thinkers are the series and this morning and when I was in my mind my quiet time. Spear but this in my heart that that. We as a culture are ready to believe. Bigfoot exists UFOs exist they're TV shows about it. We accept this stuff on faith it doesn't matter if we've never seen it we boy we know it's true. And yet. People have a hard time believing what is in this book and so I just. One of my favorite verses and it is the definition of what faith it is is he bruise eleven. Now faith is the substance of things hoped forward. The evidence of things not seen that's what got me thinking about the UFO's and all the rest of the staff now. Which leads to India another interesting point when it comes to. The world and and and in particular you or. Navigating. Your life and your family and all the rest of it in in financial matters who are you going to put your faith will number one you better put your faith in god. Is the over arching moral view you have. And then in the Bible talks about this repeatedly surround yourself we've trusted advisors are counselors that can help you. Navigate these things you need a good doctor you need an attorney needed tax guy you need people like us don't be retirement planning. He good mechanic we dinners you know and I'm saying. So by all means do they had. So I today I would like to start our program. I I'm a B history guy I guess you guys can tell because I'm constantly bringing up historical things. My husband says I'm good history to Tony you've lived through so much. Oh. See this is the and I didn't know and I got to do hail yet yeah. I think all women are exceptionally high and I. Recently just a penny tells me ala Tommy psyche don't forget in neat yeah yep now I'd had my wife doesn't prevail in recent history in particular. And in my fell say one time that. His wife got so manage that Chia mama. Historical. Yes that will remain hysterical he's a nose and historical she brought up things from 25 years. In which we HM of course this show is not a marital counseling program however I have to make army and that is now fighting fear I think I see I'm dead serious on this I think I think that one of the things that destroys more relationships is just bad bringing up dragging up old stuff when you fight fight fear. Deal with whatever it is an issue is say what you gotta say be honest with the each other for give each other and don't ever bring it up again. I'll just tell us I know let me say it is too weak but Bakken and earlier in my marriage we did marriage counseling not talk about this before. One of the things two things at a counselor told me destructs marriages more than eighty saying what three things one is finances. Two is hunting camps and three is young couple's tennis I swear. I'm can speak well would have the most to go away we're in deer season and her husband wants to goal away for these long weekends and I live in the woods. And it's doable when watching and thinking deer she's using that spelled DE any arm bright she got about wisdom on. When I get into Indiana all of this could only have been. Conversation even though it's we're having fun you may not be so I'm trying to slightly hunting. Nail Al yes speaking of time. And hope I'm actually see or what 11 last thing before I read this article. If you want to seize the Bayer that Philip guy he was on the show with Philip gentry he will last Saturday was he has yeah. And eagle on one of six point three W or. You'll see in go to and go to that I've stayed outdoors blog you'll see a picture the whole interview with Phillip as there. Really interest and well written two and a picture of Philip Samir so neurotic and we and we and we play that'll be the last time we ever have to hear about not just. Sasser. And our. Moving right along as they say OK so some history forty. Title this. Is. From zero H 700. Years. The data suggest the reversal. In rates will be rapid the Bank of England's blog called bank and program. Is answering a question. That question with an unequivocal yes Harvard university's visiting scholar Paul. Shrum housing. Says that he is analyzed and interest rates going back force 600. Years to thirteen eleven talk about history. And calculates that the 700 year average real rate for interest is four point 78 how ever. The current environment is severely depressed by the standards. And this is the ninth what real raised depression since thirteen eleven. So so real. Interest rates depressions happen. Has happened many times but here's the here's the point he's making is extremely important for you to listen to this. Because we're talking about bonds here. Most reversals. Have been very rapid and nonlinear. Within 24 months after hitting. Trawl for low point in the Great Depression cycle which keep in mind we have the lowest rates we've had since the seventeen hundreds currently. Kris talking about here. After you get to one of these low points. Rates have gained an average of 315. Basis point and have done so within 24 months. That would be a three point 15%. Increase in interest rates. And you think well now wait a minute why why what to have to do with me I would tell you. In rapid non Linear recovery and real rates can occur without any events. Any policy. End it happened usually a time when everything seems like it's fine no but it doesn't feel like he's about to happen. And maybe the best analogy for rate today is the proverbial beach ball held underneath the water for too long so so what does it mean. Most of you if you are specially if you're bigger older handy what they call a balanced portfolio between. Stocks or equities. Which is we know are also at just absolutely ridiculous. Valuations currently. And then you have bonds now what are bonds venues for traditionally buy most planners. It's offset risk in stocks and if you go to your planner and you say hey I am I think this stock. Markets getting ready to reverse a simple and I'm I'm I'm stepping away from his. Could mean some nice safe fixed. Assets that's what they called them OK. And instead sounds good let's do that. What happens to your bond portfolio your mutual funds when interest rates go up. Your bonds. Go down you lose money just like what happens with stocks when they go down. If you're heading toward retirement. Do you flat cannot afford for this to happen and it is different this time in bad. The last two big crashes in the markets have been in. Tech stocks 2000. Real estate in its in equities. And of and of course a different sort of of created instruments like derivatives. Was different this time. Is we're going to see. Correction in massive correction because we've created at the likes of which we never have created in the history of the world did is went bonds are. And it is time for you to day. To begin to get through your assets. In a safe. Place because. We are. I believe heading toward some in whole incredible changes winner of those going to occur what will be the triggering mechanism we don't know. We know that these cannot go on forever and it will not history proves so. Please take the time. Incoming CSA does not cost you anything we sit down listen askew questioned try to figure what eighty you're trying to do. And then we will come up with some recommendations for you will come up with a plan McQueen to claim a securities what do you think you like it you do you don't. We will say good bye and part on good terms you can't beat deal like dad how about putting a little common sense in your gang retirement plan come to. Comments since retirement planning to go to our website CE SRP dot info. It's good to be back Tony Rebecca and Rebecca mass say. He looked very gorge today he looks gorgeous at any recognized. And he's the ftp you know what don't mad at me because I'm the entry for a buy your beer stories OK I'm not I'm not mean managing. But between bear honing. Continuing education in Dallas and my gallbladder going on the Fritz. I ate it all letters stony it feels like a being gone forever to go along what Tony's in our court heard a funny story said. Mickey a pain or lived into a bar covered with bruises cuts bloody scrapes. Mickey why haven't these the bartender asked go off fell off a fifty foot ladders and you're pretty lucky could mean Gil is an are really out on the first wrong. You know but you know they have is humorous that he has. I have a feeling that some people think there on the first prong that they're actually on the fiftieth Ron you know when you get a latter this fifty foot hide. Most of time when you get up there you know it. Not passing a lot of people who are taking enormous amounts of risk with their money and don't realize there on the top rung of a fifty foot ladder. It's Wall Street Journal. Monday November of the six article. Out of the investing in funds and EFTs the journal reports is being where bond funds that have gone out on a lamb are way up on the latter. He says some of the work course funds for bond investors but it could be courting too much risk. What happens is with these bond funds is a mixture of highly rated bonds but then they start putting in these low rated bonds they give them a higher rate return. Let me give you an ID and I'll just is our route on the article here says how'd Johncke. Some mutual funds assign more credit. Wrist then there in Nick's. Dello wired diversified income hey. Said 55%. Of that fund is bonds rated BBB or below. 25%. Or John graded that means Malone BBB John Hancock a 51%. BBB your below federated total return. 44 BBB or below. Those type of fines when the interest rates turn around are going to drop like a rock. And but so far so good. Lot of times. What we wanna do is look take a look at your portfolio. And I promise you if you've got to diversified portfolio of stocks and bonds you've done well this last year. Okay and that's fine and I'm glad for that but at more risk. The calls unit. Not long ago there was an article about bear proofing things and they would these buyers that breaking and new nom I know a lot about mayors a break into freezer and staff. You you can take them away but they're always gonna come back. And this bear market is going to hit this one of these days in with your last savings. If you're taking too much risk in these bonds that you think are keeping you safe. The new may have a problem. What you need to do is give us a call 1806876768180687676. Say. And listen look at how much risk you're taking in your portfolio. And let us show you some alternatives where we could reduce that risk we'd like to do that everybody's situation is unique in so we would look at your particular situation before recommending any thing. We'll look at some palm away a bit CS RP dot info. And some disheartening to him we've. We kind of unpack this a little bit on the show before is the names of these things Phil would you agree when people say. Fixed income and fixed income well that sounds safe and I'm in a safe position and people have a false sense of security. And just and it didn't team of a bond nature invested in if Phillips is whenever debated each heel on that bit John doesn't sound very safe to me now. So lately she's call it what it is that you are willing to college at what they called John high yield high. Hi little and one hit maker and he investment grade bond who I want an investment grade yeah. That's pressuring the cars today average retail investor first of all a lot of average retail investors out there have what's called for Romo. You'll slow Mo is an alien I don't fear missing out so what's happening is they're flooding the market when they don't have the wrist Holler. Sustain. A long term stand in the market especially in those accidents last week people are not enjoying. The well we've seen is is we've seen a lot of fun Neitzel euphoria. Funny story euphoria and people are making decisions on what's called a recent C biased. Where you make financial decisions based on the most recent vein it's happened to you but yet they forget about what happened today in nine years again and that was 2008. Biggest fundamental difference they areas now would they lose 40% their life savings that they also lost in nine years. Of Condit they could have invested. And made it more and had more retirement had they aborted a loss is altogether I have article here. From MarketWatch. And this is an article that touches on. The five sons the stock market euphoria. Could be ready to blow up and for some people you're nodding your head and saying yes yes you sound like you're in now wheel house because. My investment advisor talks to me like I'm crazy. William smead smead capital management says. Investors may be smack in the middle of us I need chill euphoria. Episode which typically ends in. A crash. Well in a market goes dale is not when people are hanging their heads. And when their crying in their say it's when their hands her a net a year they smell smoke but they don't go for the exits. This CN bases his case on John Kenneth. I'm Galbraith Galbraith. A short history of funny to euphoria which lays out five characteristics. Short term financial memory that's what I was alluding to a when asked said a recent C biased people forget what happened today in nine years again. And miss leading association of money and smarts. It's hard to make money in to getting its. He needs to be a genius this is where you talk about surrounding yourself with advisors and people who know how to do which you don't know how to do. Number four there is something new and potentially greatly rewarding in the world I kinda gets to file mode that I was just talking about and number of leverage attaches to stocks and real estate. Investors have forgotten that tech crash is that the passage into 2002003. While the crash part hasn't happened yet. Smead says it pays to be early when it comes to exiting euphoric episodes. Meltdowns. Always happen when buyers disappear. That that top. Good have patents is that not what we've had been sitting here is that not what you do say it used. In the Smart money to buyers have been. It does Martin is now they're gone yet. The U gotta say yours and what kind of exercise do lazy people do you know that is what diddly squat. Okay that's again I don't like it is that you asked me if I knew they answer to that was but you don't need to be delays about your life savings and in unfortunately. He say if if you've had a good run here the last nine years shouldn't somebody be talking and you about locking in these games they always talking about after you drop the drop we don't locking your losses. You stated that you use it today amateur. If Europe on the fiftieth rung of the ladder yup get off onto the roof you're now where yup BS get off the latter you've you made it up to the roof what do you can't lock at the end to take it -- engine this overvaluation. Lock in gains and then go from there. But the traditional financial advisor is never gonna take you to sell any thing or lock in gains. What they'll pay you as maybe we should he stay or I'm worried about the markets and Willis move to the you know 20% more bond be rebalance your portfolio and the trouble is the bonds are not. Keeping you safe from the market at this point looked. You have to be proactive don't do diddly squat it's and give us a call 180687676. A 180687676. Say. Or look us up at CS RP dot in. We were talking before he went on the air today a little bit about him about debt and also demographics and I. I've come to think at least two things get in demographics. Is the deadly. Future it's faces the entire industrialized world. In essence what we have ever to two trains. That aren't aren't tracks that are there are headed for the same intersection. And they're going to arrive and when they do there is going to be a cataclysmic. Event in the in your fears high. For decades politicians have been. Promising all of the best friends were all you don't we you know all you gotta do is pay endeared Jewish Social Security. Pena Medicare and winner. And all gonna retirement all gonna have this wonderful life from government take care of us all it is going to be so great the problem here is. That the people who they projected to pay for all of the hat. Which are the current tax pay earth. Would they quit showing up. Birth rates begin to fall about fifty years ago aux and demographics as is done two things is it. The number of people who are older is going to increase. At the same time the younger taxpayers is decreasing it brought to mind. Two movies from the 70s80s. Logan's run. And soil and green and two days or maybe you are in right now I was nine and he can toast that Blair. Charlton Heston was and so on and green. And I can't remember who's in the I don't but the point is this there is going to be. So it's a demographic. Clash is going to be a point at which younger people gonna wake up sick I ain't paying Internet. I can't afford another I came for my house myself why should I pay for that somebody's grandma. And I'm not now there's that one train here's the other train. In order to pay for all of this to government has been increasing. The amount of debt. Borrowing and borrowing printing and printing we have more data in the world tens of trillions of dollars of it than we've ever had. And when these two trains collide is going to be Katie bar the door which is why now two days. He's the time you had best sit down on your computer. Look us up come to see us at CS RP got involved so weakened bulletproof you or your retirement plan so you don't have to participate. In this approaching storm system and I hadn't talked about potential for war. Any of the other things too that I think are looming out there so please. Go to our website CS RP dot info call us 1800. 6876760. We really don't care how you get here you go right divorce and Q and I'd mind you but let me hear you are aware that. And come and see innocent and by we sticker now we have some more trustees have come in. Welcome back to comes into retirement planning this is Phillip island. And here today with Rebecca Kincaid and Tony dale we invite you to give us a call 180687676. Say. Look us up on the way habits CS RP dot info. And get to know why so many of the people who work for Michelin Fluor and B and Libya trust the common sense retirement team for there financial future. I was talking to Rebecca they were talking about whether we wanted to get a I phone team and he really wouldn't really enjoy meeting Rebecca has been Pate. This you heard AD group Nady or Beck or everybody you know you marry back a bit they played always says that limited that makes me laugh but. Rebecca was summit whether she ought to give an iPhone or not in pay can't look at any shirt. It is audit nobody was doing and so finally when she quit talking he says I think instant getting out bound hand he said he was gonna get cute. The device you needed called the Iraq Ron. He says that tell us telling us he won't we noticed insurers were well we're Frist is much else and that he thought that was the Ab device you need is that is that gain. Well you just keep him rhetoric is wait albeit gestational day I live just a big game I'll go ahead. For sale and I don't iron. Matter of fact I'm. You until you want the one thing about meeting with Rebecca eking Qaeda is. Everybody that comes again. Enjoys. Meeting with her and her wisdom. To be 36 years old and had sixteen years experience in the financial services business. Is a wonderful thing for Tony and how to be able to hire her on the team was a coup for us that. It's framed Harkin is still hasn't forgiven and yet I'm going to I'll have to brand next week next hour right at dinner with him and ended and he still hasn't forgiveness for that tenacity was pace follicles Bateman and a peer was done here and as a faithful wife he came appear with him. So let me talk to you about this. When you deal with the retirement planner that's different than dealing with your typical investment we always talk about a good investment plan doesn't make a good retirement plan really requires a paradigm shift. When I talked to someone. You know I think about. Three numbers really sixty to 62 and Matty theory. That what's that if you're 62 in your husband 62 and neither wanna be smoke. The and one bogey on average is on the leader of the 93 years old in half you live longer than that. A lot of times investment people when they talked to use they talk to you about the fact like you're still working. We know you're working for a great company like BMW or floor Michelin. They load you down there what she didn't they DP and now every year they use your race your bag all this money from the corporation your salaries going. And you've got you got this company taking care V but you really no more retirement years. That's being unemployed for 35 years acid in it take you have to note. What I think about retirement I look at a Klein NASA that's no job for 35 years that retirement. And the company's not gonna take here you I don't think the government's going to take care of me you've got to take care of me and you've got to be proactive. There was an article investment jesus' life expectancy climbs clients must get real on planning. American's life expectancy continues to climb new estimates out from this month's shows that official assessments. These can have thick client planning on many levels but he can be tricky convincing clients of the urgency. Financial advisors and counsel clients on retirement plans seniors and soon to be seniors are slow to accept the need to plan for so many years. People think they're gonna a whole lot sooner than their actually dying. Have always been told if you know somebody. If he knows exactly when he's gonna -- get away from. He goes on to say is is client sometimes argue they will be spending less in the later years or retirement when they invasion spending. More time on the couch and last round traveling the world. But in reality based man just as much if not more just on different things such as health care prescriptions. In Basra said clients are often surprised by how much they're spending your retirement especially on medical care. But the thing you have to do is you have to have a unique kind of plan for a unique situation. And the same investment plan they got you to where you are today. Is not going to be the same plan that would be achieved through 35 years of being unemployed we're experts in those 35 years common sense retirement planning. Give us a call at 180687676. 8180687676. Say. Look this up on the way and it's ES RP dot in. Accent they hear from Fox Business it's this tactic is more Americans are saving for vacation and retirement I'm gonna bounce back and forth between two articles here. And Tony have sent and then how one that Brett back around McKee one. Bent to these articles are from Fox Business once dated the 28 and one is dated the 29. It's no secret that Americans are woefully behind on retirement savings the typical household aged 44 to 49. Gist has a little over 80000 dollars not the way while households between 1565. Have an average of a 125000. Savings. So you would think well near retirees are doing better but they're not it. The average balance from DC 6061 year old easiest 164000. Dollars. Furthermore almost half of American mainly had no retirement at all. So windows kind of staggering numbers one with pink. That some of us would be focused on building it our next day to make up for lost Tom but sadly that's not what studies are showing. Specifically. Vacations. Are ranked fourth on the public's and lists a funny until the polls. What what what are your retirement campaign it was fifth hit so I was hosts are used him. How fast but here's the thing here's the deal Americans tend to crave instant gratification. Which explains what you were just talking about Tony with that which is why mini Americans walker ran with massive amounts of credit card debt. Throw in the fact that 39% of the population has absolutely no funds available in immediate savings. And it wouldn't come as a surprise that so many of us are focused on sending him money aside. I'm not every day rest are a BB synopsis of what is talking about how people complain they can't say they can't say. But yet they're disciplined enough to sock away money to go on a 2000 dollar vacation. What is going to be the yielded babble first of volleys going to basically push more people leaning on a already grossly insolvent government program. And here's here's the deal with fat. With such security was crashed in 1935 by FDR and I'm Angela and somewhere this Tony says stay with me when they crack the plan. The plane was not really intended to pay out the people can and other we're gonna diet 62. Well longevity is increasing. And apart and just in salt well in there were forty farming jumping in the rose 42 taxpayers Carrie and 6 PM have a two point eight right. So here's this other article that I kind of one of the house back and forth with and then I wanna go back to Logan's run for a month. If I mind. I have an article here again this from Fox Business that says that there's been a shift in the boomer generation. And I would argue that the shift in this new optimism that people have in their retirement. Is because of the news frugality 64%. Now bean seed in sales and sabers of verses spenders. They have a deeper understanding that they are the ones responsible for their own retirement security. Based gamers they took people who are RE sort of domestic cabinet. In fact more than two thirds of boomers still fear running out of money. They immersed continue to spend more time and retirement and would drop American house it will be interesting to see how this will affect their confidence and security. Both of those things go hand in hand. So it's not that neighbors are enjoying their retirement abstaining. Is that they're changing their behavior based on what base theories in 2008. Because they received and they felt the burden of the recession and such economic loss they realize these programs are underfunded. Logan dry and we talk about this before the show started. Skimmed on an what I wanted to hear you say about Logan Sharon so what they doing. So does it tell you about that. OK so the so that the demographics work this Hussein in the future. Then there came a point where when you got to a certain age. There was no way did that that people were going to be able to pay for taking care of all these old people and all our younger people didn't wanna pay for it and so. There was this program work. All when you get to be whatever the agent as I don't remember. We're gonna shoot you off to paradise. Theory where there's this place should get to go to there's golf they're swinging too as the beautiful it is going to be. And they shipped these people off thinking they're going. Ask not what they did. They just terminated. Now should skip to reality. Even the Obama care program in obamacare. There is hole leader who aim rationing of healthcare in beef. And adopt a wait to get rid of all people despite denying him any kind of treatment whatsoever. It's already happening in Canada there was a story last week actually terra was talking about it here. If a woman who was having terrible headaches. Four and a half year wait to get to the neurologists for a half year weight settle why why did why does that what they have to do with retirement plan purity is. You're going to have to be prepared to. To pay for your own stuff you're not going to be able to count on the government taking care of any of it. Or remote or much of it and let me give you one other thing you're talking a little earlier. About 1135 years and well the money last let me give you another little element this is like a hole having as you keep going often assailing. Crews have crossed the Pacific. But there's tiny little hole in the hall and you don't know it until you read halfway across that little hole is what we call inflation they'll listen to this number. If we sustained 3% inflation for 24 years. The cost of living would have doubled or another way to say it is your life savings would be worth half as much. To get chewed the same amount of goods and services. So not only do you need to be saving for retirement and protecting yourself from the loss UF to have some mechanism here. To deal with inflationary growth which is coming. And that is why when we Kraft common since retirement plan. That is part of the plan is we have built in mechanisms. They can help you my role. As you're taking your income to increase income to to help you. Overcome that inflationary pressure. Listen. You need a plan. Period I think we'd all agree on that I mean if you're gonna go on vacation you've got a plan for crying out loud. It's gonna go kind of odd mayor I know that for a fact you've got to him pretty pretty deep I'm wearing black and I'm sorry could know Michelle made anyway. But the most important play and you need is the one you probably don't have all you may have an investment plan and some guys Tonya investor make college money and saying that it was telling you to do exactly that same stuff McEnroe salmon and LA or maybe 2000 and you lost all that money except this time you'll have time to make it back up. How about we showed you plan where aid if the market goes up you can make some money. But in some amazing decent breach return after number two if the market crashes which is what's likely to happen next. You don't lose it he can step off that latter onto the roof and locking him. But when that day comes you start taking income this is the most important part of it. You would have the guaranteed income for life for you and your spouse and as I mentioned. The opportunity to grow and increase their income over time he opened with inflation that right there my friend makes some pretty common sense. Which is pretty uncommon out their right now. So please go to our website CS RP dot info com CS and assure you we can do for you. Hours listen more Rebecca said about what people planned for and vacation is above retirement. You know how many people have talked me over the years about they were afraid there are going to be laid off. They were gone and they're dangerous they're in the ones that were laid off this was. True mandate for these people some laid off in the is hard is they could they got another job or they worried about being laid off. Well I don't want to add things a bit do you worry about being laid off for 35 years. Cause that's what's gonna happen and can you imagine not preparing for that. Rebecca also said she Sid a Social Security is insolvent well to beat. Technically correct it's headed toward insolvency. Yeah the other is more notoriety this system is expected out an article out of market watch this is why you shouldn't count Social Security. October the 31. Is say is the system is expected to be exhausted by the early 20s30s. Americans are still paying into the system every paycheck what will happen however will be a cut to the benefits Americans receive. The government has noticed a Social Security Administration put out another last year saying social security and Medicare are both facing a long term shortfalls under the current structure. And that together accounted for 42% of the federal program expenditures of 2006 staying. In other words you know starting and the 20s30s and every time they project something like that you can pretty much know that that's a long term projection. They are looking at some type of either increasing the retirement age reducing benefits is just. The the numbers do not had a so that's even more impetus on home preparing for your own retirement. But I really felt ashamed to myself today. Today. I got up this morning and I was very careful what I ate for breakfast I was very careful what I ate for lunch. More than I had man in the last. Year almost I was so careful what I aid in you know why are. Calls I finally remembered the pangs. This gallbladder attack was painful. Boy I'd never had pain my dad in a long time in fact it was so bad you know I got to mop tanker is in my liver out of whack. But I woke up this morning in birdie I was I was on the ball as far as what I was leading in the calls I can remember the pain the problem is with your retirement planning. Is you forgot the pain in 2001 and two in 2008. And it's what's gonna happen is once this market corrects and people start seeing in their life savings hated south. We're going to be so busy we can't see straight because all the sudden they remember the paint. You know would it have been better for me if over the last few years instead I have under I would've been careful about what I ate in avoided the pain. You know might be able to keep my gallbladder. You know and you know I know that's maybe a silly analogy now that you know that's why motive but pain is what motivates. A lot of times. But to people who were smarter the more prudent people. They see evil coming and they take action before it happens. That's what we're asking you. You know if we can avoid some pain in your life if we could reduce the fear we'd like to do that we believe that's a good thing. And we've got a lot of experience you're said in the room as far as dealing with people in retirement and it's a special school of thought. That a lot of people aren't experts that and we are. Give us a call 18 huh. Read 6876768. 180687676. Say look this up on the way a bit CS RP dot info. I have an article here that is from money and markets. And say it's to snapshot of an idea where share reedy. Specifically might might burning director of the adults and institute. Which accurately predicted the stock market crashes of 1987. 2002008. Now says a great global depression is likely. I had someone ask me in office last week guys they said if I had half a million dollars two years from now what would you tell me to do it and now my is this a trick. Not being helped. First of all crest recorded message I don't know what I would do you do that it senior sure now the interest rate environment will be different NASA able. We may not even be here in two years depending on what happens with North Korea but and I. Opt out that was a valid response but everything in nature news in a regular written at breakneck predictable. Cycles. And the rising and setting of the sun and the phases of the main. Economies. Currencies and investment markets are no exception to visceral. Right now these cycles are saying that the era which government could amass un payable debts. Wind impunity is coming to an end. The days are coming short. And the cycle which may in time pays a price for those debts Wilson began that's what we've been talking about all this stuff. Wraps in together. Burn it points out that the proven. Contra teeth to that say they're on routine for hunter chief say that three count. A wave this signaling an ever weaker economy. Soaring unemployment skyrocketing. Interest rate massive defaults on public and private debt and more. Waking go on and on and have. And vowed d.'s debt obligations when it comes to these defined benefit plans also known as pension obligations. South Carolina's only 53%. Funded it seems anything mid the government has their Paul's end. Is up being a disaster Macon people sweat whether they're going to be able to serve. And help people make it through potentially three decades of unemployment like what you just described Phillip. All of these cycles says Bert naik. Converse in October of this year to form their first super cycle economists had saints it's 1929. Somebody on the show told me once that Mark Twain says history doesn't repeat but pictured as her. I am and atlas air. Hasty end and participant. It is. It is amazing. These times of relieving him. And it. I think so it's easy to to kind of tomb how at we were talking about this before we came on the show today. I know Purnell in my life yet she's merry dye hit a talk show stripe. So I sit there and some were having breakfast I'm telling her all his dire stuff is going on the world she said darling police peace. I don't want here anymore and I can't stand this season ago in stated that they affect cardiac. Is so. The fact is I think is it is a culture we have we were over so overloaded twists in and news in fake news and all the rest of it. A lot of these are just war were overwhelmed. We just want to simplify. I have an offer to me to. We can simplify retirement planning for you we really can't make this make this a much simpler thing and one of that one of the instruments did did days. Be in short of those foundational part of it is something called a rig. Retirement income generator and this was this was a term that was so created actually. By Stanford university's. Senator for the aging and the society of actuaries. And they were studying what is the most efficient way for people to retire. Andy what they came up with ways you have to have a retirement income generator. And it has to be a way of creating its guaranteed. Sustainable income for life. And not. Having risk. In New York. Market. Do not take great so so. We have for what. Ten years just on the radio here in for another ten years we've been doing this before reproduce in the show. That is essentially what we've been saying from almost twenty years now you you can't if when it comes to retirement planning you cannot afford to take losses. And you must have a really get retirement income generator that will give you guarantee sustainable and come. No matter what happens to Social Security. Or any other thing. If you wanna know any real. Read Ricard retirement income generator looks like. That is something we can show you and show you an overall plan. That that is a part of so police pulled PC east do yourself a favor before things really get sideways. Four hits the fan in your standing in front of the fan don't be there. Go to CS RP dot info. Make an appointment won't cost you think. That common sense in your retirement plan. Everybody seems to want the same thing when they come in and talked to us they want a raid. And what their most familiar with is if I estimate what do you want in retirement and they're probably wouldn't tell me but our do you know in the back of their man. They want a 5% CD from the bank. The first thirty years. OK and you know not just say that filming catch up on Megan yes that's exactly what I won't they won't know that they can. Take their proper sand and not test or principle for thirty years have passed that on to their children. And that doesn't exist look in the Wall Street Journal league right now on the average five year CD is one point five if you lock it up for five years have. And but. People don't realize that but what she can hear it is you could hit a 5%. Guarantee greater withdrawal. For longer than thirty years for the rest of your life paying your wife's life no matter how long that he is. And if you retire early whatever is in the count would pass on to your children you see in retirement were more interest in sustainable. Rates of withdrawal because you can you remember your unemployed for 35 years you're gonna have to have income come union. Rather than rates of return and that's fortunate because you can hitting cannon guaranteed raise your return because interest rates are so low. But if you want to we're expert at finding out the bad sustainable. Rates of withdrawal when we develop these rakes. And so give us a call 180687676. Say. 1800. 687676. Say I want you to be proactive I don't want you to. Do that exercise that lazy people do diddly squat you know that's what most people do you be proactive. Look us up on the way a bit CS RP dot in. You say is that most common. An answer separately Kazaa I would be interested to hear your your various perspectives won't be the most common. Think that you hear from a client on an annual. Review Tony Awards she answered that. And then fill up I would like you to answer a question. On a review similarly after the Klein has established the count. When they're taking income. Says that Tony what are you hear my stuff denying your view and Tony were a man and Philip what you hear most often when people are taking income and they come in to see. Well. Iran and we will show you an answer to that account depends on what the market is doing at the time. Because anybody dreams well during during period from markets have gone up and could we we've. I have wonderful happy conversations because. These people live have made money as markets have gone up I mean that's the sort of did the did this type of rigs that we designed. Are designed to tracking next movement so with the indexes are going up inequities in and bonds for that matter well and they've made money and they've done well. If it is time Michael Shannon in LA and the market's crash we have even better conversations because everybody they know lost money in their 401K and they didn't lose a dime. So those are good we'll hammer pleasant conversations. And I think in of them. Also may remember arsonist most things that I hear most often is I don't worry about nominee anymore yes there you you know I've taken a war and you know they're they like to see the inflation protection but mainly I don't worry about how many more I can sleep well tonight. So. Would you like to sleep well at nine a bitch you wouldn't even when things get weird and he even came on economy doesn't do well markets crash what we can help you do it. We've helped literally hundreds of state clients. Get some common sense and your retirement plan go to our. Web site CSR PI info make an appointment please clemency as we would love to meet you thanks for and listening. God bless you.