Common Sense Retirement 12-16

Common Sense Retirement Planning
Saturday, December 16th

Common Sense Retirement Planning


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

Well good morning and Merry Christmas and welcome to common sense retirement planning. In this world of very little common sense common citizen become quite uncommon. Fortunately we sort of cornered the market on when it comes to retirement planning in as much as this is the very first. Retire planning show in the upstate we've been doing it for our more than ten years almost eleven years now. And we are in fact we have State's original retirement planners. Myself Tony deal Philip Allen my partner for twenty years or so and Rebecca Kincaid and one of the newer members of the commentary for time planning team. And what this program is designed to do. Is informing you entertain you and army lease with. What we believe is important information that is not being covered by the mainstream financial press by and large. And it east. It is information. That debt from a retirement. Planning perspective not just an investment planning that retirement planning perspective. Is critical free you know so you can plan and how do you get through twenty or thirty years of retirement is very important so. That's what we're going to do over the next hour and we're glad you paying in now with his to do it today. I am also we have always endeared to a biblical world view and everything we do and that is particularly true when it comes to being stewards of the resources that guy supplies news and therefore always begin the program with something from the Bible. The Bible teaches that we should trusting god enough money and money has a lot of false promises. And one of those false promises is a lot of people believe that money will bring them happiness. But the Bible tells and psalm 37 Ford delight yourself in the lord and he will give you the desires of your heart. It's the lord in your relationship to Jesus Christ that brings happiness not money. And we have this morning I was actually. I'm reading. I'm really working through Matthew my wife and I and our daily devotional and and now. Ran across this when an this is one of my favorite because it's so. Pertinent to our our world we're living in right now. In this is Matthew 624 no one can serve two masters. I do you hate the one who love the other or you will be devoted to the one and despise the other. You cannot serve both god and man and now ma'am and is not just money man an ease the world system it's materialism. It's its desire if you end. In a world that that is built in in as of monetary system. This is actually built on consumerism. This is a very important thing for a believer to try to. To apply to their life win win it every queer we look especially at Christmas time. We are just bombarded. With. All of these messages of you've got to have this and you've got I have bad and in fact the only thing. This isn't future guest if you look around the room where you're sitting. Easier eternal soul everything else are we Don Henley said he you you don't see verses with luggage racks to. Today and I would like to be in the program talking about something that is fascinating to me I if you listen to show it or you know is it that when in my. Favorite things is is history particularly economic history. Tell here's a bit of history that he's been made this week and you may not have known it. Big calling. Has now surpassed tulip mania is the biggest bubble in world history this week world history was made. Believe it or not. The price. Has gone ups of big coins garnered seventeen times this year 64 times over the last three so as of this moment bitcoin is the biggest. Asset bubble in history. Going all the way back to the tulip mania which was 1634. To 1637. And Tom the biggest bubble of our lifetime so. Think about you now or standing in proximity to the asset bubble. A magnitude of which has never been observed by humanity. Thank you central bankers. And so I'm wanted to it just kind of go back and and the reason everytime I am I wanna start with a is that you have to have perspective when you're talking about retirement planning. You which are really talking it matters how do you make everything you have managed to save the last few. For 2030. Or more years. And live a comfortable lifestyle so the issue don't run out of income. So it is important then to know what are the risks out here. Did you have to avoid them because it is losing. Your life savings while taking income. So I mentioned bid calling. But I thought it would be good to go back and talk a little bit about some of these bubbles because people don't remember so here's here's the tulip bubble they did was mention. Seventeenth century tulip bulbs one point. Fitch stepped to a 150000. Dollars at today's prices. They rose a hundred times the average income. Of the typical dutchman they were being traded for land livestock houses. Just so. All that was just going beautifully until the bubble burst. And prices plunged banks failed the people lost their life savings more recently they've been many in between these but I just jumped. Remember the Japanese bubble of the 1980s. Mid eighties. They still. Had not recovered from that. That in the economy grew just booming like crazy and then they crashed. Stock market house prices everything. And Japan is still struggling. You and I he lived through. The dot com bubble remember that little and I don't have to go into detail you know that was like. We had a sub prime crisis in 2007 and eight. And here's when you may have forgotten I forgot it. Main member beanie babies. Beanie babies which sold for five to ten dollars. A market bubble was created from beanie babies and people were buying these beanie babies formed a 10050. Dollars. And the prices keep going up and up until. They didn't go up anymore and today you can find beanie baby for bout with the originally so place for. Now the reason I tell you this is. There is a lot of what we call formal going on fear of missing out greed. Greet a part of that ma'am and I talked about earlier is driving people to make foolish. Dangerous decisions and how they're investing their money. End the typical bear market last somewhere around five to six years this one is nine years in the making thank you do Federal Reserve. And the asset values are astronomically. About what's normal so we don't know wind. But obviously nothing goes up forever now here's where where we come into the picture. If all your advisors talking to you about a rate of return rate return and how much you might make and so forth and he's not talking to you about what's gonna happen when the market goes south. If you need to come doctor west because what we wanted to reassure you now to lock in whatever game you managed to achieve between. The crash of 08. And now. And have to have a security situation that when you retire you have a guaranteed income for life what we call a rig to retirement income generator. That can go up when markets go up it will never go down when they go down. And haven't guaranteed income for you and your spouse and whatever's left over you can leave your children and as I mentioned get races every time we get game. So. That is what's called the common sense. Retirement planning and we'd like to show it to you go to CS RP. Dot info and Cummins cius. One of the things elected to consider is. How quick. Can you get out of the market. Outset a lot of times in the past about the Titanic you know when the Titanic hit the ask Fergie was better to be the first off the boat not the last if you understand what I'm saying. But when you hear things about this call Maine in the market going up. Most of the time the people that are talking about it have the ability to push a button and be out of every bit of their money out of the market in a split second. You see what's happening is people are being rounded. Just like a bunch of cattle are being rounded up rob before slaughter time. What's happening years when you've got CD rates at 1%. And the market has you know in general has increased about 20% as Tony said the fear of missing now foam. Almost forces people to take more risk than they really should with their life savings and what happens is. The the page fund managers they love for this to happen because that everybody putting their cash into the market. It's forcing the market in this last little frenzied. Before all of a sudden the gates are closed and you realized. Those people can get out of the market at the how I. And really you don't have the opportunity to respond that fast in between you future quarterly statement and you already lost 2030%. Of your money. You realize what a mistake buying into this. Kind of euphoria will cost you. Don't be taken me and bad the last vestiges of a market like this because it always corrects. I was looking at a typical mutual fund over the last ten years Anemia tip of his ample American funds 20/20 found. American funds are great mutual funds they have a great history in their grave you know if you're going to be in mutual funds there is good is any better than most. But a typical 22 when he found over the last ten years you'd think that Manny must of got to 12% greater return on average. Is averaged a little over 4% because of the big eating Turkey in 2008. And in retirement the an average retiree can expect to endure between three and five bear markets during his retirement. You have to have a different kind of plan not an investment plan better retirement plan. And set up what Tony and we Collie breed that is designed to for this. You are inflation as we've done inflation. That's that's a forty in slate goes on talk about that image you know our retirement is well it's like being unemployed for thirty years. And you have to have a different type of strategy if you're going to get paid in retirement. For those thirty years that your going to be unemployed if you'd like to know have a set a rock solid read for retirement. Give us a call 1800. 687676. Say. 180687676. Say look this up on the way a bit CS RP dot info. A belief that so mad is further exacerbated. By the fact that most people out in the mark here right now have what we call recent C biased. Yeah I mean they tie early forget what happened today in an Al would be clear to. When we're talking about a retirement in come play and Horry Rayed it. We are speaking to a segment of the population who you are in that retirement red zone which is in about that ten to fifteen year window of retirement. That's when we believe in studies have shown over and over and over again that the time for you take a risk with your money is Gaulle and that ship has sailed for years. So we're looking at this will we see it and trends in the stock market is that every one is flooding achieved the stock market there's a lot of psychological thing is going on. And as it unpacked in this article from zero heads. He talks about how the percentage of households financial assets currently invested in stocks has jumped to levels exceeded only about the 2000 bubble. I will or would that mean that means that households have more of their money in stocks. Any any other time outside of the 2000. Top. Updating one of our favorite data series from the Federal Reserve's latest released. We seeded and at third quarter household a nonprofit stock holdings jumped at 36 point 3% of their total financial assets. That is the highest percentage since 2000. Matter of fact the only time in the history of the data and that's been taken to 1940. They sell higher household stock investment and that was during the 999. To 2000 blow off plays the dot com bubble. What he salad Tom Tony Mark Twain says history doesn't repeat but it sure does drama nothing and that's what this article is getting that. And him what they're referring to you is how the metrics. And not unnecessarily be current market indicators but they sure are talking about how history rhymes. And it per Bob's in the data provides instructive representation. Of the longer term backdrop in the potential. Let's stop market risk and that goes into investor psychology. It reveals a lot about how investors have had a positive for recent experience in the stock market. That goes back to feared missing out that guy's bag Teresa anti bias we were just talking about. And it had a positive experience in the stock market a bull market. They've been happy to pour money into stocks. It's consistent with all the evidence of performance chasing pointed out by mini that's exactly what you're talking about Tony. When you said that people are gaining greedy they're getting greedy they're forgetting of what their risk are associated with the stock market. Net how stock market investments. Peak with major tops in 19661968. 19722002007. None at the spikes in 1968. And nineteen say need to tops. And managed egregiously. At the 2000 top. So what's the point there they keep getting worse in the power and how how they go and how far they. Drop. We. Ever such a different world view than most advisors because most advisors are just looking at what's going on today. Where you can invest today and what you might make tomorrow. But if you're talking about retirement plan and we said this repeatedly already on this program. And we're talking about. Years decades. And we're talking about a period in our history that has never happened before. And don't talk and I've talked about this a lot that beat cars demographics. Are destiny. And there was a time and I remember it would and you probably due to the adjustment when you need 65 do you that was thought of okay that's when you retire well today. I go to the gym. NIC guys in their there's a fellow bill it's in there he's a year I'm Sam and he's your year old in me. I didn't nine rounds of a heavy bag or with 32 arrest three minute rounds today. Bills in their due and our hard Carty oh no other duties. And let that be lost is hard what you just described thirty seconds on thirty seconds into much in eternity when you're doing what you're talking not do it now that's kind of a big deal. He relented when you're actually boxing if you have one minute respite from Anheuser that a bid to keep in shape to do each and I'd I mean if many you understand my point point is. Our generation of baby boomers seventies the new fifty. We we are live we are working our health and wait our parents didn't. End. This all ties into demographics. So. The problem is demographics is the elephant in the room that everybody has been ignoring the problem is that. Because of Central Bank interest rate policies. Pensions. Had not been able to make any money in this yield starved world. Pensions and this is important. Because pensions. Are what a lot of people are counting on to get them through pensions are in deep deep trouble will. And a lot of the pension funds have been investing in these derivative products they're there are derivatives that are making bets on volatility. So they're good they're bidding on volatility it is the day is not even something that exists is just to. Is like a game in the in a casino. Ended the problem it is dvds is creating distortions in the market. So the problem eventually for these pension funds. And we're talking. What 65 trillion dollars worth of money here oddly. Okay. What about these retirees futures they may live to twenty years thirty years because here's the here's the problem. At some point these pension funds are gonna get drawn down people retire. We have the we're we're we're eating retirement age of 101000 a day so what happens. When people start pulling money out of the pension funds to live on them. And pension bond funds are not making enough money. To replace it. If this is a huge problem. And this is going to be a bigger problem because the fact is we're all headed to the same place. We're all gonna reach a point paralyzed when he would like it or not. Where were we were wearing diapers eating mushy foods in in leading somebody to help us around in less we're just fortunate to fall over and in die early. I know that's Dyer is meant why am I telling you this because you're gonna have to pay for that stuff. And if you if you don't have a plant in fact I'm I'm I'm getting ready to differ due to good good here's here's why you need. And retirement planner in your life why you need to seek common sense retirement planning. If you don't have somebody right now helping you plan for these things are coming down the road pension funds failing. And who knows about Social Security cost for health care cost for long term care your health your future. Unexpected things that time to plan for them is now and Rebecca Tellme is story this morning and I just wondered what you do share with him because it is a prime example of. This mall it's one of the things it and fortunately they come across and the appointments in the meetings that we have started our offices. An individual come in to see me I eat widow. Who ball it's Aden and actually purchased in 1986. A disability contract. Now if you don't contracts back in the eighties are much more lucrative than benefit and they don't exist in the same manner that they do today as far as a lucrative benefits that are offered. Well she is disabled and received a disability payment of 121000 dollars a month. While. 121000 dollars a month well she was told that she would perceive this payment for life. She was told secrecy dependent for life on a disability contract. While she's now 62 to benefit is paid out for seventeen years packed. And and guess what she found help and this week she found out this week that her benefit at 65 days away basically and she found out because she knew that 'cause hell I find her find a town yes she didn't even know no she didn't adding she's not talked to Matt agent. An agent resigned that dies or he doesn't can do everything. And someone who's a one trick pony who's not securities license. He doesn't Nat because that's a big deal. When we're talking about creating a retirement income stream what we could have done had gotten a hold her years again via. He's been able to help identify that gap. And more towards bridging that gap fascinating on an ongoing basis and an instrument. Two quite easily bridged the gap that she's now gonna have to come out wit and three years which she won't be able to do. It is really and she can't say I'm gonna have to go back to him where you can go back to end but on assignment change the outcome of what we found out. Only called the carrier directly. Now I'm not Tony divide their baby's ugly but I'm telling you that she can do a better job managing what you have when you're getting comprehensive. Financial advise from people who know what they're doing. I and that would be less common sense retirement planning you can give us a call in will be happy to review any play and you hat. Asked by an eighty cracks NN that are they airing tape if it's a good one and keep AP week it's the best thing for you 1808646768. That's 1800. 687676. Say. Called another number eighty Colin many assists phillips' personal home number that's it may be set New Mexico. Out of the business and finance sanction on the Wall Street Journal GE power cadets about 18% of its job G electric said today it is cutting 121000 jobs in this power business or nearly 18% of the unit's workforce as the conglomerate slashes Collison battles overcapacity. In an industry in upheaval. He goes on the power business. Which makes turbines for coal and gas fired plants is one of the hot 125 bureau company's original businesses and produces 13 of the world's electricity. It is GE's largest by both revenue and a number of employees who generate about 27 billion last year employed 57000. The problem with these layoffs is the two big plans that are going to be effective in Schenectady, New York in Greenville, South Carolina and so. Lot of people at G year going to be given notices that they are no longer needed. And sometimes. You know that's a I found out if people handle that their highway in new adventures sometimes the best thing Koji can they say choose your reps carefully because you're going to be in on the risk your life. But it's very important if your laid off for some like that that you take that money that you have in G. And I think sometimes because geez funding problems with their retirement if you have a chance to do oh yeah I always with that decides and sometimes you down. But give us a call because you have a chance to set up or real retirement plan. Phillip you're right and that is why it is so critically important that you take the time now. Larkin the good stuff that's happened all of the good gains have happened since the crash Hussein and now eight. Permanently. And create for yourself a retirement income generator or read so that you know. No matter what happens when the market goes you will be safe and haven't guaranteed income for life. And there's a lot more we wanted to tell you about weave some great stuff coming up on the undersized a plea stick around and give us a ring. 18676768. C Indians and then. Welcome back to common sense retirement planning this is Phillip island with Rebecca king Cade and Tony dale. Hope you're having a great day perhaps you're out. Shopping for Christmas it's a wonderful time of year. I love Christmas time my wife is decorated the house and I'm glad she decorated the house nominee but I enjoy it I was curious why she decorated with Halloween staff and I don't know very unusual choice it was meant maybe it was just the wreath at a bat wings as Amber's very different. It was not a it and so are my wife has done a wonderful. Love how off kilter you just put him right now enjoyable to walnuts and lattes OJ about Christmas we do need to be careful not many people. Realize that Christmas is stressful for children and is usually stressful for children because of adults I can remember two instances that. That happened in my alive during Christmas that just. I. And my. Sister thought it would be funny. Well one thing that happened there's three things one thing my sister thought it would be funny. To wrap up some macaroni and cheese and put it under the tree and give it to her kids. Well the first child that got the macaroni and cheese lost his temper. And I remember he routed across a room and the box came out in my macaroni went everywhere. Well he got spank war and Hala. Well Andie and her other child. I forget what. What it was bit he didn't say she told him maybe it was the same one bit. She said you say yes sir. And he was a strong willed child and he just looked at and you ship is hated and we know we're just. It was a center of attention. She said you say yes sir. You're watching your point just say let's move on the issue accuse me and my dad. Looked at my. Brother mom said Chris and when he l.s gonna lose and it better not leave. Well finally. The ages spank him because you wouldn't say yes earth and finally he's just cry and this is carried out on my sister and all her wisdom and yes now last time we need to Peria. Mark Somalia so they get to this column little Christmas as she gets to Alice the little kid it's crass and now you need to pray. And ask the lord forgave you. And Todd watching this and a little nephew and he does. The energy. I get out. I realized then that he wasn't broken yet. It weighed in all he's cracked down. Can't do that Greek it's a spank and these are you mad did. And that was sort of dramatic and then not long after they had to. I thought it was a good one time I called up my nephew in Buffalo, New York. In my brother's house and told him when he answered the phone he said who's this and he answered my name if you answered my Brothers my own. And that was cellphone when that long ago and he said who's this in mind he's he's about eighteen years old and lasted is Santa Claus. Is a walk he's in Santa Claus. Passage even a good lord he's a year. And I said we'll go tell your brother. That it's senate calls on the phone BA ya mean you're it go to your dad is tackle all of us ages of their in my brother was asleep. And I didn't realize it bit mad. Money if you had a bad habit of awaken my brother when he was asleep goalie worked urges that he gives up. To my Brothers. This is Santa clauses say Klaus. And my brother. Wore him out while the phone was still lives I've told you not just bang bang. And I reality in the vote 88 it's it's nobody told him it was an applause you know and you think so these children. Have a hard time during Christmas and so you need to be gentle with film and not set up these emotional lumps and areas that have happened in my allies these cells and calls today did you. I did I don't feel that I don't play the lottery acid but it bows gonna play today the big day on wall did it chick filet with my son in late and I'll be on my left with a real beard will Santa guards. So that was a home run for me was a good day today has been a good day so far is uneven yet Tony Harris sticky. And saying go it. I wish I think oh well I think I'll just hole fourth so erratic and well. Because we sort of got sidetracked a little bit here just. Common sense. Retirement plan. You know we came up with the his name. Because of that guy. Back in many years ago. Had you gone through. What happened in 2000. To 2003. We we realized at that time that we that we look at the lay of the land and we said you know. Based on the history of market bubbles in the history of economies. In the demographics of this country. We are going to have an entire generation of baby boomers that are going to be retiring. And then you've been given. No. Real retirement. Advice they've been told about stocks and bonds mutual funds buy and hold an all of this. But nobody's telling these people about how to date qui eight. Income for themselves in their retirement which is the one thing you gonna need is Philip and said earlier. EU you're going to have to create your own income be good and going to be unemployed for twenty years thirty years. And pay for health care and may be a long term care and all and maybe some trips and have some fun. So we said. It is a common sense what people are being told they go out there and put commending these. Mutual fund portfolios and they take risk in May be aiming any maybe they lose half their life savings. But nobody's talking to them about how do you create. An income stream. And so we have been we are the ups these regional retirement plan we may get our specialty. Cash nearly twenty years ago. And as a result of news. We have we have created who was created lot of competitors but better paying for it but we've created a tremendous. Net base of clients and a tremendous retirement. For hundreds of people in the upstate. Little did we know. That what we were doing was way. Ahead of the curve because just in the last few months. Stanford. University's center for the oaks and for longevity. In this society of actuaries. Released a study. A study. To try to find out how. People can make their retirement savings last for thirty years or longer in other words. Howell. Can retirees have a safe. Comfortable. Retirement. And so what did they fine. Well. They found that first of all. They have to be. Allocated in such a way that the money doesn't disappear market freefall. And they must have something called a retirement income generator this was a term that Stanford university for the center for the aging created. A wig they call it. Or we have been creating rigs for people for nearly twenty years. We were so far ahead of the curve on this that when I read this article in the study I about fell out of my chair it was like. Yeah us. Don't people bring. Yes. And so. What a week must have heard these things number one it must be guaranteed. It has to have certainty. Number two. For that to occur it cannot have risk which excludes. About 75%. Of investment portfolios out there which are nothing more than stock and bond mutual fund portfolios. Did yes can make money in up theories but it can lose that money in down periods and as I told a story earlier about the my client to work for a beach JPL did what happened to him. This is what this study is to talking about a year. So we took a one step further. Because we believe because a federal. The Fed's policies and other things we are going to see some pretty serious inflation going forward. Therefore you don't just need to guarantee source of income with no risk. For husband and wife who has to be an income from that continues if one spouse passes. We should by the way excludes most pensions. And most all annuities. But it must have some mechanism. To account for inflationary pressures in other words you have to have some way of getting growth in your income over time. We created reads. With the Turbo charger. That's that's our approach to it. Rigs with the Turbo charger I liked it so. You know how automobiles there's this seems to be this horsepower race for cars now in the and they they say they ended dude. Dodge came out with his. Dodge demon is our 850 horsepower are ready day. They came out within the fastest and 1100. Horsepower super car now can't remember what that's what I would do it the horse tell you in horse talk. Worst party outright but anyway here's my point. We have put together. We can put together a plan for you. There will not only guarantee you an income a rigged. Put it before UN Richard and your spouse. And did you can leave whatever they are at the end of your last persons passing to your heirs. But why you retired and taking income we can show you ways that you can. The income Kim has an opportunity to increase over time so you can deal with inflationary pressures I read the other day by the way just as an aside. A new study on inflation not the Consumer Price Index which is the most bogus paying out their and their unemployment numbers the government. Made anyway. Did on this. Which calculated things like health care and transportation costs and things of a member of the matrix. Metrics that are not included in the CPI. Right now for the top fifty cities Atlanta's real recur inflation rate is 10%. Charlotte has a nine point 5%. So we're somewhere in that range. Ergo you better have a way to stay ahead of itself. If that sounds like a common sense approach. To your retirement planning and come to the common sense retirement planners the original retirement planners in the upstate us. By going to CS RP dot info or calling 806876768. We said earlier that. Retirement was being unemployed for thirty years so obviously you need an income that last you for your entire life. That was Tony was saying it's also unemployed with thirty years if you don't have any inflation protection as unemployed for thirty years with no race. And I'm looking and report Tony just from our clients battle over 200 clients. It tails how many years they've been taking their income details how many. Raises they have in their lifetime income that they can now live. This is very unique to air planning and right now inflation. You know on the CPI they're gonna say that inflation basically doesn't exist it is Tony told her real inflation does exist. And if you start out and have no way for that income to increase almost all plans I say even if they do you have lifetime income. That income is not going Kris ever. Our plans and we can show you hundreds of clients they have tremendous increases. In there and come. And this income is inflation protection because. When you're twenty trillion dollars in dating your printing money like is going out of business eventually that has to produce inflation. And I was looking you know like last year retirees average arrays and Social Security. Was three dollars a month. Well we got 2% raise this year bit but the end there was a 10% raise the costs for Medicare Kenya and so watches CNN can teach or at the payment is just no doubt why this is what if you could get overnight here period. 31%. Cost of living increases my dead body didn't quite if what if by some chance over an eight year period you could. Get 31%. Cost of living increases in you symbol. There are ways. To set up a plan that gives you a chance to have a successful retirement but if if you just pitcher head in the sand. In don't realize all the options one of the things you can do as a 59 and a half in service roll over and when you do that. You don't have to be laid off before you roll the money over which you can roll your 401K money over to an IRA while you're still working. And he's a wallet why would I do that just really quick you have unlimited control once you roll over your plan to IRA. You could have control and ownership of the investment you choose the investment strategies were there help. You know you're restricted dry announced just what's in the 401K. We have diversification. In the investments where you're not just restricted to watch you have we can give you principal guarantees in life time income and inflation protection. You have better beneficiary options outside and the fees will probably we you can shop fees and the fees can go down. But there's things you can do to is locking in your retirement money and not just. Wait for the next correction and blindly go through that you give us a call at CES up give us a call 180687676. A 1806876768. Look us up at CS RP dot info. I'll buy that haven't you look at they called CSR peed on him no they wouldn't do that it would just like. I'm not going. How little Sammy five million the emergence million viewers avoid the next meltdown and retire with financial security. Which you redo a couple bullet points up all this article has some interesting points I want to share repeat. Gamers will not avoid the next melt down in less there are some serious major changes. They need to be better per take in their risk zone which I'm a talk about a minute defending against. Their risk of ruin. Losses in their risks don't take an emotional and physical hole as well as burdens our society which thankfully care sports elderly. The simple straight for range to this question is at bay ridge will not avoid the next meltdown unless they're serious. Major changes to the way they are currently invested. That's how could what we're talking about here and this is an article by Iran and stirs. Weird last names surged. And this is printed on November the 27. He has led. I chart here I know that we talk about this before but if we look at the number of the immersed or the number of workers who oversee supporting one retiree. In 1915 at seven markers per retiree. In 2000 and top fives and in 2030 to project it is two and a half workers for every one retiree so the margin mayor is narrowing is narrowing it quickly. Most investors are unaware of the devastation that is calls to buy. Sequence ever turn risk we've talked about this a couple of times today on the shadow. Losses occurring during the transition from working life to retirement that's what that critical time is but there's account balances are at their highest. Your balance will be the highest it will ever be when you initially start taking withdrawals. Lifestyles can be ruined even if markets subsequently recover our. That's why this particular time period. It's called the Reese's own I thought the wording of this was interesting. Philip he says unless she feel extraordinarily. Lucky. Well let me Paul's right there in askew a fundamental question. Winds of one of the most pivotal decision is that you warm mate. And one of the only decisions in life that you had that she only get to do wants. Do you want to base that decision on line. Arguing they set decision on guarantees. Do you feel lucky you are feeling lucky we'll Bryant well usually what we widget what we would offer. Guidance to dig you need to make sure you we can take you through. Retirement. And sail through the wrist at risk cell bully wanna do is to stingy against the risk a Bruin. Again you'll only get to do this wants. The scary thing about most dangerous the most dangerous things about the market in the things that lurk ahead. Is today often are surprised yeah I'd like 43% of retirees are forced to retire before they want me. Brokers are forced to retire because they had so over and their hair and their older. Folks over it. And GE. Lockheed Martin and you've got BMW especially decay energy Michelin places like that. That can pay somebody this listening to now bullish right now guess what madam sir. They can hire. One person paid about half what they're paying new they're gonna get have to work ethic but it's a home run frontier looking at them at the books. So dense things are coming down the pike. But dating unlucky in the red zone aren't there red cell is like being unlucky in sky diving there just is no. Recovery. Where it's a good analogy Israelis. End which are talking about I see a lot of that. And frankly it is primarily. Quite. Over the age of 55 males that are being laid off because these companies they're there because cost is labor and so they. So so yes that is that is a reality that is something into deep dynamic. That is underlying Rebecca what you were describing here. Is almost acted demographic. Falling birth rates. Increasing number of aged people and by the way that is just here this is through out the entire world Japan. Today in this is a fact sells more adult. Diapers and baby diapers. That is a demographic time bomb. And we. Are in slave in the world right now by dad how to talk a little bit about dead right now. Global debt is at the 217. Aurilia in the trillion dollar mark. That is it an unprecedented. Historic debt bubble. And it will be the greatest. Transfer of wealth in human history. And those who are going to be enriched are going to be the rich I'll tell you another when the blow your mind you know. This eight men. In the world had as much wealth is the Porsche three point six billion. Talk about income inequality. And here's how this has happened and I'll quote Albert Einstein compound interest is the eighth wonder of the world he who understands his earns it. He who doesn't pay easy it like at the Bible says the borrower is slave to the Linder. So we're talking here about dad. Personal debt national debt and in our country thanks to the Federal Reserve. We have created a debt bomb. And that mom is going to hit the wall we are all Phil mentioned earlier we already. Own more money than week producing an entire year our whole GDP for the year we owe more than that now and it is growing. Where's that pat what's ahead to do with your retirement I'll tell you it has to do. Engine funds that invested in this market are going to be falling and I'll be able to pay attention. To people who are expecting as income. Social Security which Rebecca just mentioned is obviously going to be affected dramatically by this. People who are in the market in taking risk. And take people's losses are taking income in the early years sequence of return racecars which feel you just mentioned. All of those people are going to get blind sided race. And here's why. They didn't. Think ahead they didn't plan. For any of it they just thought everything we'll keep on going and Harold brings to be good. But bad if it takes a long time for bad things to developing and they happen suddenly those wildfires in California worst in hundred years they're the result of all of this did would. It wasn't cleared the environmentalists didn't want to clear kill out all those dead trees no no no we we. Now we get fires me up and I am just like that. But they don't have they happen to you. If you have a common sense retirement plan. Where you have some certainty he's built into it. You have to guarantee an income for life for husband or wife with the opportunity to get raises in net income. Whatever is left teacher passing going to year where's that scolding rig retirement income generator. And we can show you ways to do some other things as well look at your long term care look at your Medicare your insurance needs there which. Is it time to give advice. Is now. So please come and CES before the market does take it turned seat is RP dot info. Something adverse could be 227. Thousand dollars. Richer if they stop bankrolling their kid oh my gosh yes and I know I keep bringing this up because it continues to be a subject matter that comes into an office. This is an article from business insider. Parents sometimes pay for their adults at children's expenses in it could be carrying their retirement in fact they might be missing out on a quarter of a million dollars or retirement savings. Bass supporting their adult children that 80% of parents for the adult children are paying. Or have paid at least some of their children's expenses. I missed it unpacked some examples 50% 56% for Kurdish Reese 40%. For health insurance 21% for housing. 39%. For the child cellphone bill 34% car insurance. The T most expensive costs are living expenses in college tuitions and appearance retirement savings could be 227000. Dollars. How I hear if they chose to save that money. And that's something and well and our own on. This is a sad things that children have a way of getting you over the barrel on the way they do it is this. You have a daughter who maybe didn't plan the way she shooter these thing but when she hits those grandchildren. And you want to give your daughter tough love while those little grandchildren are looking matching hat do you do there it. That's very difficult sometimes when you know that tough love with your children will urged the grand children. And so they really there and that's a serious thing is a serious. So we actually have some good advice with that. That we can help you we have that we find a lot of times that. Parents are spending their life savings. On their children or what ends up happening is they're both broke. When you're on a plane in the oxygen mask comes vanish post than don't you first knock your children because if you pass out she came helping anybody. One of the best things you can do for your children and we know that that there's there's a conundrum sometime. Is to make sure that you and your wife for stable financially through the years. This article goes on to say to. In Athol that this is kind of ironic and almost a quarter apparent saving for retirement expect their children to help them financially in stone why after they retire for Gideon that's. He hit it at that like when you're pay an four analogy that they're gonna help you in your retired like. Think DeMulling meals are gonna vote to increase its benefits for older people don't they they odor don't they know and I have. Just so and so so if you don't take anything else away from today's program common sense retirement planning its place. There are better ways to plan for retirement and you've been told about more than likely in your not gonna know that much of Cummins EST you have something to compare it to so bring your plan the best buy any gas. Will review it will show you Lieberman may be is good plant. If not we'll show you holes and and how to fix. And out having guaranteed income for life a re career and retirement income generated that you cannot Al leave the income. But don't wait go to CS RP dot info and do it today. We look forward to shaking your the end had a good weekend god bless you.