Common Sense Retirement 8-12

Common Sense Retirement Planning
Saturday, August 12th

Common Sense Retirement Planning


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

And good morning to you welcome good common sense retirement planning I'm Tony gale with. Philip Allen my partner for what seventeen almost eighteen years now. And Rebecca king Katy used. When our senior associates on the common sense retirement planning team. And we are frankly. And pretty speed speed today we will what we have got a lot of stuff here to share the view. As you may or may not know we are the F State's original retirement planners we were the first ones doing a retirement planning show. And though there are. Obviously a fair few. People who have followed them down that path. We assume the original have always adhered to one thing. And that is to make the show not only for Marshall. But. Information at all. To try to equip you things you need to know. About what is going on in the world you were flat not hearing on most of the media in fact we call ourselves the the alternative. To the mainstream financial press. In nearby Macy's. And our goal is as retirement planners. To to help you go into retirement. With a sense of peace about it and not have to be fearful about running out of money to talk about bad but most importantly today we. We want to give you information but this is an important thing. Nothing we say on the show today is designed to give you go out and do so we'll what you did take some traction because you are to say something. We are securities licensed. We were to capital investment group member of Famer in civic and we would. Are here to give you advice but every brush and stay for and we have to. Creator craft a plan that specific to what you are trying to achieve. And so. Keep in the back to mine room wherever insurance products for use which are sometimes you know could be long term care along like entered for new duties or whatever always verb. Products we use wood or backed by beef up the full faith in pain now worthiness of that companies involved. And the one thing that we've always. Held highest. Is our faith and for that reason always began the show was something from the ultimate source of wisdom which use the Bible. Many people think that money will give them power. But you don't need money. To have power. What you need is a powerful heavenly father. That is in Isaiah 41 team and do it don't be afraid for rhyme with he don't be discouraged Farai I'm your god. I will strengthen you and help you I will hold you with my victorious right hand real power comes from a relationship with Jesus current. He man. And I am one from a cliche settle I think in police he had the dissension in Christine book because I B if you think about this Paul are. Paul search Solomon. Wise is to man in the world at the time sensibly. Who wrote. Most of proper miss which was his treatise on how no one should live wisely and acquire wisdom and all of that. Go easy asked these was written in toward the end of his life win he had made some pretty grievous mistakes and and so it's very interesting is he looks back but please he's 5106. Whoever loves money never has enough. Whoever loves wealth is never satisfied with their income. This too is meaningless. So. When you. Talk about it and think about. Financial. Matters. Never lose sight of the fact that money's just green energy. Easier to fuel your life in your life should be directed toward. Living a Christ like loving life. Helping other people doing what you can not being self centered. So today what we are gonna start out which is the fact that we are living in some of the most uncertain times. Knew that well I would argue in in my whole life I can not remember things being this this kind of squirrelly in yet here's the interest in part. You if you all you focused on was what the stock market is doing right now. One would believe that things were just fabulous. And yet the fact is that there are some very Smart people. People are who are insiders. They had a very different world view about what's going on here some star witness this is a piece from MarketWatch. In titled the seven billionaires are worried about a stock market correction. Some of the biggest and most respected him hedge fund managers are pumping the brakes on the stock market. Which it'll all time highs recently. Jeff good luck advises are moving toward the exits. He's reducing his positions in junk bonds emerging market debt and other low quality investments. Quote if you're waiting for the catalyst to show itself you're going to be selling at a lower price he told Bloomberg. Recommending investors begin start moving toward the exits. Carl Icahn wanted to leave. Lions of the investment world. Warned that stocks are overvalued. I really think. I look at this market now and I say look at some of these values. And you have to wonder he told NB CNBC. Howard marks is warning his clients. This is way too bullish territory he warned aggressive investors are engaging in willing risk taking. Funding risky deals and creating a risky market conditions and that is the hallmark of all over the past downturns historically. Warren Buffett has nowhere to go. No companies combined. George Soros has gotten bearish any big way. David tepper is on guard some of these things you know some you may not but these are all being being rock stars in the India some more. Tepper is particularly concerned about Central Bank intervention over the last over years distorting the markets. And how that is influenced stocks no way could lead to trouble and finally Paul singer is warning of NE TF crisis. It means city. There one point you will not have the active the end of the market to stabilize it. You would have just the passion guys getting into a herd mentality in other words. If senate takes a hit it will be dramatic one. And no matter bargain hunting or logic about fundamentals are going to help cushion that blow. I'll just. Follow on Tony with what you said with two other names so that people understand how serious the this current situation is and how. We want you to be careful there's things you can do to be careful with your money. A lot of towns a lot of your money's in your 401K it work and you say well I've got to. Deal with what's inside the 401K. If you're 59 and a half. There's a good reason to give us a call 1806876768180687676. Say. Because it 59 and a half you can do what's called an in service roll over to NRA. Outside your plan and you have a lot more choices and a lot of those we can show you our shores is where you can be safe and start looking at a real retirement plan rather than investment plan always remember. A good investment plan does not necessarily make a good retirement plan. So. Tony gave you a lot of names that you have and have not heard of are you need to you probably have heard a first of all Bill Gross is considered. The smartest man alive when it comes to fixed income. Says mark curious is the highest since before the 2008 crisis this is out of Bloomberg. Published in zero page is speaking at the Bloomberg invest summit in New York Bill Gross said US markets are at their highest risk level since the 2008 financial crisis. Because investors are paying a high price for the chances they're taking. Or they're simply ignoring the possibility of all the FTs having to sell it wants. Instead of buying low and selling hide your buying behind crossing your fingers. He says. The rest of gross complaint is familiar to long suffering traders you have to navigate centrally planned markets for much of the past decade. Artificially driving up asset prices while creating little growth in the real economy and punishing individual investors. Banks and an insurance companies as what that they it is done and then you recognize this name Alan Greenspan. Says the bond bubble is about to break recalls of abnormally low interest rates former federal. Reserve chairman Alan Greenspan remember he said he rational exuberance. And that's before the tech crash and guess what it was irrational exuberance. He was correct. He said. And normally on interest rates will break a bubble in the bond markets Greenspan is famous for warning investors before the dot com crash. Former Federal Reserve Chairman Alan Greenspan issued a bold warning Friday that bond market is on the cusp of a collapse that will threaten stock prices. In a CNBC. Interview the longtime Central Bank chief said the prolonged period of low interest rates is about to you and then with they had a bull market in fixed income. Which has lasted more than three decades. And it it is very. Serious what has happened in with the market weird due for correction. And if you're close to retirement. You can't afford to take your life savings to another 2008 style correction. Give us a call 180687676. Say. 180687676. Tapered look this up on the way a bit CS RP dot info. In come in and talked to one of Osama common sense retirement team. It's funny how we individually. Have a list of very Smart people very wealthy people. You are giving warning signs on modern at this as just a flush India on the but I too am have on several big time investors Tom Forester chief on this is an officer. At forest capital management page describes what's going to happen as it's going to be agonizing. He goes on to say people always ask one as a catalyst to calls the market to break catalysts are by definition a surprise. Even after you can't always define it. And he goes on to talk describe how he couldn't sleep before you had this nagging. Unfeeling in his belly and it says that now Forster is it sleeping well again. The next time we see a bear market is deploying to be agonizing. There won't be anywhere to hide on the way down I'm Jim Roberts is another investor and he believes a market is going to collapse he says some stocks in America. Are turning into a bubble the bubble is going to come. And it is going to collapse and he told in tied business insider this this this month. He CG should be very worried. The 2008 financial collapse is as bad as it was because of all the debt at the Tom. But that debt born today in the US and China and even a Federal Reserve. Dwarfs that of 2000 innate in just announced today twenty trillion dollars in dead and guess what went. Congress comes back from. Break a vacation and sabbatical every wanna call it they got fourteen days to decide what to do about increase in the debt ceiling again. He goes on this day. With the debt so high. Congress could have lent strain to cut taxes or to Barley and span to help restart growth in the midst of her ascension. So we're already in a star well behind the eight ball because of how many trillions of dollars in debt that we have. Marc Faber is another. Individual. If he's a Swiss invest during he's an author of a monthly newsletter. He also faces asset holders will lose 50% that's his predictions. And basically when he goes on to say is prices are actually out of control. Their how to control. The historical average price to earnings ratio is sixteen but today it's around 32. Once people start selling Farber warrants gramley. There will be an avalanche. I think are realistic scenario is an asset holders released 50%. Of their assets. And here's another major concern is that there's only a small number of stocks that are dropping a bulk of the markets and sent. Just five companies accounted for almost a third of the S and p.'s total gains in 2016. This means. They viewed the investor inside of your 401K in your brokerage account or wherever your money stashed away if it's in the market. That you are relying on fewer companies to carry the market. And it only a handful of shares are moving up. It's assign. The market isn't healthy. No it isn't in fact I didn't interest in peace and even headlined the stock market is like Yellowstone in his beautiful fade as a volcano underneath and in the eighteen months ending in June we saw companies that had no earnings. That were losing money. Outperform those that were making money on the market. So even if the market looks beautiful there are things. To worry about here's what we don't much to do. We don't want you to be worrying about anything. When you retire. For that why you approach retirement. Because listened. We think about retirement is the quote golden years how many times have you heard that expression. The fact is is that there are millions of Americans who are suffering. Desperation. Today. In their retirements because. He went through the tech stock crashed they went 207 and 08. Lost massive amounts of their wealth. Why don't they were taking in film. It's the one thing that. An investment. Plans never really address. What happens to one's income. If there is a major correction I mean we of course making the case today that there is one looming and I think pretty good case. Well if that is true. And you're sitting on my however much you haven't managed to say if you're heading toward retirement. In the question you should be asking yourself is how can I go into these retirement years and make sure that they are gold and so if I start withdrawing money for income which I'm going to have to do. And the market loses twenty or thirty year forty or more percent. At some point in that. Unlikely to run out of income if I live a long life. So the question becomes how do you avoid something like that occurring. And since. Survey after survey showed that people's number one concern in retirement or morphine are fearful of running out of income or money in the armed dying. Dean wouldn't it makes instant to craft a plan for yourself. That addresses those things where it's at comments is retirement planning we have long believed. Did though it is important to have made a reasonable rate of return. Rate of return is secondary to rate over with thrall. A sustainable. Withdrew already or income for life. Is essentially the reason that people save for retirement wolf that's true. Wouldn't it make sense to come and talk to people who craft that kind of a plan which of course is what we do. We are the State's original retirement planner for crying out loud and that is that is our focus so. We can offer you. An absolutely. Free visit. To sit down with one of our common centric retirement planning team members and and let us listen to your situation in your concern to what you're trying to do. Take some notes will put together a plan an actual plan to show you. What kind of income you could expect to create with what you have but here's what we will do. It's just like guard rails on the bridge if you were gore across the Cooper river bridge down in Charleston. How fast would you be driving that they took the guard rails. Not duke fans are reckoned. The answer is let's put to guard rails up CU no no matter what happens in the market you're not coming off the bridge usually you're gonna keep move. Secondly we want to make sure that you have an opportunity to. Increase the income over time because we believe inflation is always going to be with us and maybe get pretty bad possibly. And lastly we want to make sure this income goes on Ferrari surviving spouse because he's very rare that a husband and wife both passed so. That is what we can do if you. Do your part of this and go to our website. CS RP guiding. CSR peed on info or call us at 806876761. Way or another. Please clemency is before it actually does hit the fan the fan is on high. A lot of what we're concerned about also is avoiding taxes. We're gonna talk a little bit about you know that the fact of the matter is. They can't the US is broke our states are broke. Mint just algebra the world is broke we just lived on borrowed money while we lived on borrowed money because they kept interest rates so low that we could bar for nothing. But now it's gonna pay the piper but taxes is something that we take very seriously basic tax planning. And here's what you have to understand. Once we get past basic tax planning then we have trusted CPAs. They can take and tax attorneys. They can take your plan but we think one of the biggest threats to your future our retirement. Is the fact that the government wants to take more specially qualified money's just a big tax target. Good example of that is there having engine problems in Illinois so what did they do they raised the state income tax 32%. Well so wall how does that affect me well if you're in Illinois and you've got a qualified plan how big advice did that take out of what she thought was your retirement in town. They can just say well I'm supposed to be a lower tax bracket when I retired. Well the fact of the matter tax brackets they haven't decided yet they can change those at any time and so it comes as retirement planning. Making sure that we address taxes and of course when you pass away and we you know we want. The money to past years spouse but when you both pass away the money that's in the UK now we want to make sure that passes on the year airs in the most tax efficient way possible. And when you were talking to us about a retirement plan. Taxes are very important to us because we feel it's a thread one of the reasons we need increasing income in retirement is not just inflation. Is because of the threat of increasing taxes give us a call 180687676. Say. 180687676. Say look this up on the way of CS RP dot info. I just will be clear to everyone listening we're talking about avoiding taxes not evading taxes yes the last say invade that I just wanna be clear that wasn't misheard about someone in their cars the you know the difference on what is below that did added there and us finally did clear fifteen years as drastic difference in the federal penitentiaries and windows encouraging evading taxes. But he weekends of fully aboard death taxes I'll dig a little bit deeper Phillip on what you just mentioned about on the Illinois situation. Gesture really bring home how bad off they are in their pension system this is an article that was in the Wall Street Journal. And then. The the manager of this mark elevator she's made it chairman Mark Levine. Was describing the funding deficit he said our liabilities. Our three times our assets. Maintaining our funding level employees are talking about is the pension fund in Illinois if Philip just referred to it. Maintaining our funding level would require investment returns over 20%. Annually yes Tony for state easily cashed and have yet what that's what he said he said that's not going to happen. They're gates into a little bit more di tale about the California State teachers retirement that is also tearing. To failure. But this article is actually on the front page at the business and finance section it's because it talks about how the stock rally fails to fill pension shortfalls us actually the headline of bad. And basically what is saying is is a runup in stock has helped deliver. A banner year for American public pensions. But they gains won't be nearly enough to ensure all state and local retirees receive their promise feature benefits. Large US systems I oversee retirements funds for police officers firefighters teachers and other public workers. Earned a median returns. A twelve point 4% fiscal year that ended June the thirtieth. According Ted I'd trust compare send. That's their message when he fourteen against what best is still not good enough. Bearish collective short falls area from one point six trillion to four trillion. Dollar. As a war pension for yourself. That you can count on. So please while there's time before some of these events begin to spin out of control on the dominoes start to fall. Come to CES go to our web site CS RP. Dot info. CS RP dot info or call. 806876768. Cummins CES and we will put together a plan. They'll help you sleep well at night to all of those golden retirement years. Stick around we have more common since retirement planning coming up. Welcome back to common sense retirement planning we hope you're having a wonderful weekend. Here comes a retirement planning were the alternative to the mainstream financial risks. Everything we do this through capital investment group member Finneran and civic. Everything we talk about ears for discussion purposes only we don't want you to do any thing. From some advice that we gave you on the radio what we want you to do is be curious and give us a call and then we'll talk about your specific situation tailor make a plan. That's. Exactly. Right for you. But sometimes. What we do is we try to help you be careful about your life savings. One of the hardest things and that I feel. In as we talked to so many people as we can get people to be careful about their life savings because. They're used to taking Aureus Kenny even though. In 2008. They lost half their life savings you know that was a long time ago and they've they've made that money bag they don't realize the impact that would have calmed them. If that happened right before they retired. I remember the old song we both played that game before or sale would be to say good bad news that seals grown. Two of them I'm not gonna try to sign it but you know he's saying it won't know it is like I know. I have all after I had a lot of letters. Musical ability and she came here it in on amazing grace and neither can NASA. But Tony and I have played this game before back in 2007. We were warning people. Bet it was we were due for a market correction and it did you have been a long time since that saw correction and people just would not be careful and a lot of people just went blindly on than that and were punished. But some people gave us a call and some people listened. And they can you imagine where you demand if you hadn't lost any money or the had lost as much money in 2008. As she did and had to make that money back. If you'd like to know all the safe ways. To go under retirements so this Tony say you can sleep well tonight give us a call 1800. 6876768180687676. Say. Look us up on the way a bit CS RP dot info. One of the things that I'm preparing for and when I'm not working. Is sort of a bucket list thing for me Tony and you know you know and Rebecca I'm going on to hunt coastal brown mayor now coastal brown mayor off the coast to our near Kodiak Island. Is a real fan grizzly bear. The same species in all. But the more in that I'm doing a lot of research about this image you see a lot of products online this is. Their bear proof. Further bear resistance you know they get things but Carl's mayors. Can really tires on the numbers kinky. You know that may be whether. The age. No not that one and only bear no you know the went on and reference the rim redness and. You know we're gonna wash that before relief for mayor. The major. That Fella particularly dangerous kind of near them. Just as it differently you're gonna all of. Tony referring to you know ought to be don't realize it but there are different you know species of bear in this some mayors are much more dangerous to hunt and others. The the really the most dangerous animal ally have to hunt he is the dreaded Bob Poehler mayor. Now with a bipolar mayor. You just never know what you gonna. Yet Tony make it and he's heck I don't know I know it all bop polar bear but you look at real serious in your face right now I hit LSU sent people I know I I'm stranded as sad I'm about to be duke tiered totally rock polar bear you just never know what you're gonna get one day in my me warm and Fuzzy for a cuddle the next day Tuesday July well and so there that is sort of unpredictable. But seriously. And in October and one and you don't go on this trip now I don't might give back my wife's going with me if we don't make it back you'll know we dad with their boots on. But seriously though the one lesson you can take for this is the fact that there bears out there you know we talk about a bull market. We're nine years into bull market. And don't get lured into thinking that all wherever go McCall's one of these days the bears are gonna show. And it appears that the one that's gonna show up this time is gonna probably be the most vicious one year. And if you don't have a retirement plan this Bayer resistant. That you have a protection from the downside. The end you may end. Destroying your life savings. Please don't let that happen give us a call 180687676. Say. Or look us up on the way of CS RP dot info. One of the the things that is frankly be in this secret of our our success it's common sense retirement planning. It's we've always believed if you wanna know what's coming. In the future. First thing you wanted to study history. Well we. Do that in this week I ran across a piece the 1929 stock market crash dot com and Great Recession. And it's quite a long piece and has a lot of chart but when you read through this is it really quite stunning the parallels. End it when you look for example what created the stock market crash of 1929. It was. Construction retail automobile. Advancing to record levels and debt climbing all the time as a way to finance at all. Which crescendo of course and 1929 when. One of the long exuberant rallies finally felt. And in retail housing and automobile started to fall apart sounding familiar to you this happened to the dot com thing happened to 07 in no way. And we believed it could and is going to act we in all of the experts that we quoted so far hate. To leave. That this is what is going to happen at some point when his day. Hit a fine now. Most of the experts already are a bit flummoxed that it's lasted as long as it hands but it hairs. An every day that this rally lasts. Brings it one day closer to the day did we hit a top. And things begin to reverse because. Reversing to demean reversal to the mean. Is the norm and everything in nature. Every thing in nature eventually would reverse back to. The median of the norm. Now. Having so they. Wouldn't it make sense to you. Since you have probably done fairly well if you being in the market. Over these last few years. To take what you have and and protected from any potential losses. And the people who get hurt in stock market crashes always. Are the ones who hang on to the bitter end when he needed it like as little two or 3%. Great returned. And once the cascading begins. They just cannot bring themselves to wade through an and one of the big things this article I was referring to pointed out it's fascinating to me. Is if you go back and look at these patterns what you will see is never has the stock market Disco gone down if you look it up along. Charts say 120 years it would appear that it just started falling and just tell them tell that is not the way it works. It actually is is a slow motion train wreck. It drops for awhile comes up and for actual outcomes and they've not unlike going down then man hailed a river and flood. When you go up on Lennon crashing up in crashes. They eventually the stock market in any low point. And here's the trick. How does one survive a market correction such as the has sold a long life going wild taking income. And not run out of income. Because that is what in the end most of us are trying to achieve. Tony get specifics on the I think that that gets lost only just kind of say that move on let's back up and give specifics on what aegis injured here. Describing sequence of returns which we know what you're talking about. But again Phyllis there's an example if we hit if they have a majority of their assets just for. And unduly perfect because I can tell you we've seen it come then that I am wondering if if there's a way to communicate and situated people really understand and appreciate. What their risk scale to any income Fraser for tire Willis. Start relieve real simple. This year is the first year the baby boomers are having this start taking required minimum distribution to review like it or not if you're sending half this year. This is the beginning of a process going on for. 1520 years. So the normal amount of money when one starts is right around three point 663 point 7% or thereabouts so let's just say. You began a more rounded off call 4% he began to take 4% withdrawal because you're required to do this. Everything's been going really well and then the market. Over the next three years does what it did you know seven or eight which is lose fifty plus percent. Okay. Use over that period of time taken what 12% in income let's say over that three year period of time. The market let's say they did if the market lost 50% maybe you had a mixture stocks and bond may be you only lost 30%. Plus 12%. That's 42% of your entire life savings evaporated in three years time. And now what if you lived 25 or thirty more years. How would you possibly get through that period of time without running out. Of income without eating up all of your principal. That is what's going to happen to a lot of people out here because dared the other an investment plan that in their being told. Quote you just have to take a former or draw rate in the markets historically than 7% or if it doesn't what he does what it did in 192900. 1999. Iran orb O nine. These these things have happened and will happen again and that is why. You were smartest move. Is to look at income distribution planning which is what we do. Powell can I make sure that my assets A won't lose money when markets crash. For myself for my spouse no matter how long we live and continue during this period. To have an opportunity to grow old. To get a larger. Help you keep up with inflation and lastly as Philip was alluding to earlier how Linda we. Password or assets are on to your beneficiaries in the most tax efficient way for them. That is what's called reach retirement planning. It is what we've been doing we would be upstaged or regional retirement planners specializing in this approach. And that is what we do and we do it frankly. Extremely well as any of our clients would tell you when we would be happy to supply you with some names and numbers of U wanna ask them. All you have to do to become part of the commons and retirement planning family. Is joining us. That's easy you just go to CS RP. Got into. Or you may call if you rather of a day it's 806876768. Do whatever you do. Don't put this one off because when things change they happen in your. Well and I don't mean to it then beat a dead horse but this certainly piggy backs again if we get back to that pension subject matter for just a moment. If we get back to that we're talking a lot today. Cope coincidentally a lot about the then broad ripple effect of 2000 an aid in here we are almost a decade out from. The Great Recession but yet we're still feeling. The aftershock of that detention predicament is the result of decades of low government contributions overly optimistic investment assumptions. A mover promises. On the benefits. And tear recessions in many retirement system is deep funding holes. And this is Connick guy isn't what you're talking about two and Tony with the our committees of price or from. Liabilities are rising as ways of baby boomers retire leaving fewer active workers left to contribute pension plans for many pensions. Funding problems worsened in the years following day 2008 financial crisis as interest rates hit. And remained. At rock bottom. So what's happening is disease tension these pension plans. Are passing it the burden to read the employees say they are encouraging. Bunny years encouraging. They have no other choice of and that if lesson don't wanna save for retirement to be forced into a 401K for three B type plane and Tim made out from. You are out of what you had perceived to be the safe space and now you're in a space for you can't do much about it other than pray and wait. And how it the dead bees on pension short themselves up. By cutting your benefits. Extending how long you have to work and then taxing us more those are there solutions. They're not going to assure themselves because. And our corporation Regis basic math. It's an insidious thing that politicians. Can get elected in the short term. By promising benefits they have to be paid in the long term like when they're not ending when there are not fair and you know is just like the North Korean situation they have passed them by pass the book and now trump is having to deal with something. That. As Bill Clinton's lead you know he's he he made a plan was North Korea and let him go ahead with their nuclear missile program peace and air time. And now he's someone else is having to deal with that but these pension plans there's article out of zero. Aids is yanking the bank of Japan's change it a chain its basic mass do you bid he says it. Mathematical. Certainty is based on the simple. Reflection that arithmetic is more than just an abstraction we offer a modest observation. The social safety net of industrialized. Economies including the United States have frayed at the edges. Saying the safety nets fabric will snap. Rather it's a matter of basic arithmetic the economy cannot sustain the government obligations they have been piled. Upon it over the last seventy years. As the global population increasingly ages as the pay as you go social security and pension Ponzi scheme to develop welfare states or meg normally. Crew creating toward. The post war tuned in solvency I'm sorry I can't read today. There hated toward insolvency in its mathematical the post war two boom is nearly over in the bills are coming do you. Greater and greater amounts of future growth are already claimed by existing debt obligations this in turn gives the growth for making its way into the larger economy thus limiting future economic growth. This is why mature economies are finding it near impossible to attain 3% GDP. And he goes on say however Japan takes the cake GDP. Has been stuck in a quagmire for 25 years. The countries serving as a canary in the coal mine for what happens to an economy that has rapidly aging population murders and then obligations and stagnating growth. Specifically Japan's demographic train in general leads to the trend. In the European Union by about five years and that the United States and and years Japan's worrisome day at in growth. Tree ends. Leads the news in the economic union United States for about fifteen years the their borrowed. In the in were right behind them and say why are we telling you this. Because you're going to have to take hold of your retirement yourself and not necessarily count on. States. Pensions because they have not saved enough money you know we talk about Illinois while live in Illinois. Guess things on the bottom probably Illinois. The bottom five states with the Illinois South Carolina north euros in the top five. South Carolina's. Pension fund is 60% funded and there's no mathematical way that they know of getting out of that. And that's not going to change any time soon. Amazing enough that they don't have depraved so we are quit institutions actually have to prove that they can pay their future obligations. There are 218%. Funded to pay their future obligations. Why is it an analyst rhetorical bit just conversation purposes why is it that the government doesn't have to comply with that. Check and balance sheet why did and they're dealing with people's life savings. As you write laws. Is the Gordon get goose and groups well they view of the Iraq. On steroids. Because governments have the ability to write the laws and regulations. To benefit him which is exactly what they've done you well if it benefited everybody I would. Do you remember the first Wall Street movie. Gordon Gekko talked about the company he was trying to back from bud the bud fox is bad you know that airline he said that beautiful over funded pension plan. You know that's what they want and all through the years when we had enough money to pay these pages the government's. They just can't look at as a man that all that money what can I do with who and they spin it. And now. You know the chickens are coming home to rouge. That's scary too if you think about when the government soccer match Opentable manager for a one cave. Here's here's here's the thing or as a listener what you need to take from this little conversation we're having we have. Given you ample. Evidence today. Of not one or two or three looming. Catalysts. Which is where we view several times. They're going to change things or change the direction of things. So we had this long bull market that everybody's focusing on the task. Focus on the pension situation. It Rebecca and Philip had been talking about the focus on the demographics. Underlying this problem. Focus on the over. Valued stock market that is completely out of control we gave you what eight different. Good bond and stock gurus. Warnings today about all of this and then we really have not talked at length about this but this is huge you think. How about the fact that we're sitting here having this conversation at a time when North Korea. Is now as we found that this week enabled to miniaturized nuclear weapons they have two satellites. That. Cross over the continental United States daily. That could in theory drop and electromagnetic pulse weapon. And completely Alter things weakened real war would that be a catalyst. And in India. And here's another thing I complacency. Kills. If somebody told you. Day you had a deadly infectious disease. That if you would just come into the clinic will give you some medicine that'll fix it. And you can't say any idea I want idea but I do have to go to the mall today and get some shopping done and well and I can't believe how do they. And you keep putting it off and putting off putting an off day comes. It is too late to cure you. That is going to happen to millions of Americans you going to see. Tens of millions of Americans life savings. Absolutely wiped out I'll tell you that I don't win it's gonna start but it will happen again because history repeats however. We're going to be a coterie of people who saw this coming and wise. Which the Bible say imprudent and for sees evil coming in hides himself. The naive proceed. And suffer from proverbs two well that's a fact that she's going to play the way it works. Beat the wise one. Either one person who saw it coming and we talked to the people it comments and retirement planning. Because that's what we'd do we've seen it coming for a long time we talked coming before it happened around seven and 08 in the a lot of people came to see us and those people didn't have to suffer like and a lot of other people bid. I'm McLean amongst them. So go to our website. CE NS RP dot info would Tuesday they'll keep put that off take that moment it could keep could change your entire future. CS RP on Intel or 1806876768. I'm Bill Gray says in that we should not be mesmerized by blue skies. Bit all markets are increasingly at risk. He says investors had investors have resorted to making money with money with more money funneled into the financial economy and the real economy. When you match that with the US's hide debt aging population and the automation of labor did you hear about the self. On flying planes now be heard about that this week. You have a big problem for productivity. Groceries. And productivity he says is a long term driver of economic growth and profits. There's not enough fear you know you'd mentioned them a couple of times about complacency and and not being fearful and watchful. A robber are not founder and researcher affiliates is an investment strategy. Strategy firm. Says markets may is with the changes in perception. One bad thing Kate calls a downturn. In the United States there's not enough fear there's a since their risks are not they're and that's just not true. And we may be due for or that one bad thing he cautions it's hard to paint a rosy picture for any long term investor. The market is just too expensive. At eighty point it might roll over and die and that he backs exactly on what you were talking about would be if they cape. I have a great analogy I just I read I read a fascinating book about go home the gold mining strikes back. That the 49 Ers. End the people who made money and always have and all of these these Boomtown situations are not the miners. That the people who sell them the tools. End bettors what Wall Street news. Wall Street sells this dream. If you're going to get rich and let us sell you the tools and you go out there and it's you take the risk you know you have to do a resident. And only a handful of people actually do and they don't know wind to do cut Enron. But the people said that they're getting near that 1% or one half percent every year why you would want taking the risk. They're the guys selling the shovels in the peach NN and that pick axes to the minors. Well and that they're real danger for the investor Tony. Is it the Tom between a catalyst we've been talking about in the crash is contracting. Our dish reiterate you know word. If there's going to be a catalyst to have another 1987. Or another. 2001 into tick pressure whatever. The market is gonna go down in your going to be hurt I just want to reiterate please be careful even if you don't call us figure out a way to be careful. We can show you the best ways that's what we do. But please be careful this is China issues a dire warning on North Korea sees out of control disastrous consequences. This article as serious while the world watches and JS his Japanese residents prepare for the possibility of a confrontation when North Korea about panic buying nuclear shelters and air appear fires. We may soon realize that their efforts to desperately require protective gear and equipment for nuclear disaster was quite precedent. And it talks about you know them launching you know and ICBM. Well the Chinese ambassador this is the Chinese ambassador says current tensions are high and we certainly. Would like to see it the escalation of tension only goes. Then sooner or later we'll get out of control my consequences will be disastrous CC and and then goes on to say now my being in town to imitate the Japanese preparing for the worst. You know if war is coming president trump has made this very clear North Korea does not appear to be heeding his warning all bets are off once the missiles start flying. You know and I'm watching this I'm watching nuclear submarines leaving pork you know. We need to be careful that something like this doesn't. Roll this market and that's what we do I mean our whole philosophy is about safety common sense retirement planning to all it's ever been. We do not want you taking risk we want to show you how to deal risk. Your life. Your retirement life and we can do it if you join us and cost anything come and visit. Back to Q I think you quite enjoy the visit Brett gunning for and people will be around we have a good time. We laughed a lot closer the funniest person I know but. Do clemency is before things get out of control CES RP. Dot info that is our website to check this out there. Call us if you'd like at 806876768. But one way or another. Don't let this take Q unaware Ers this could be your last chance to do something about it have a great weekend god bless you and I.