Common Sense Retiremet 7-14

Common Sense Retirement Planning
Saturday, July 14th

Common Sense Retirement Planning


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

Good morning and welcome to common sense retirement planning and Jeremy dale. We if my good buddy and oldest business partner Phil Alan and delightful. Fellow advisor Rebecca Kincaid and we. Or the up state to regional retirement planners and your alternative to the mainstream financial pricks were gonna try to give you some interesting information today you're not likely to hear elsewhere here. Information that we think what helped you form a world views it will be a benefit TU when you consider retirement planning. And we. Always one to to try arm you with knowledge because knowledge is power. And one of the things we've always believed in his is trying to have. Informed. Clients. And so most of our clients pretty well informed we trying to to harm you. Having said that we always. Like to do everything we do with the biblical world view and this week we start the program was something from the Bible. And today a luxury and sort of an obscure reversed. But the but money has a lot of false promises and one of them is that if you get a lot of money you have a lot of love and attention that the Bible teaches us. And this first is out of zephyr and I hung quote evans' effort and I am very much 317. For the lord your god is living among you he is a mighty savior. He will take delighting you with gladness with his love he will calm all your fears he will rejoice over you was joyful songs. You know the Bible teaches us that god loves us so much money could never give us that. Our one time that god loves you so much he had is your pitcher in his wallet. I I was actually going to to quote a different verse but wonder sprang to my mind. And if it's kind of appropriate since we this is just talk radio station that the first chapter James James says. Be quick to listen. And slow to speak. And we have a tendency in this life to to be so quick to want to express what we think about everything and right now our culture is is just eaten up with this. Constant. Conflict of well I don't believe and I'm and argue if you and so forth but. There's another level to this and it's one that we all take so seriously and that is. When people can see yes. We truly. We want to to listen we take note we wanna know. Everything we can't about. The person that comes to CS because. That we will we can attempt to construct exactly what is right for that person in everybody's different. And end one of among the many things that we do. Octane quick story I was. A brand new diet and try and learn live and he had this beautiful. 1957. Corvette could. Just charity come cherry were kind of cheery candy apple red color. Josh Gorges. And I went over and was talking to him and complementing him on his car and and and some arrow there we we end up talking about a state planning and he told me historian and in in the resemble a share this with you as we knew we run into this kind of stuff all the time and it's a reason why so. Important they have trusted advisors in people who can help you. Put an estate plan in place one he wasted my mother's a hundred in two. And I take care of her niece and I found out. That this advisor Xia and unbeknownst to me or my attorney. Had set up the trust. And in this trust. The trust wouldn't begin to pay out anything after her death for twenty years while I'm in my late late fifties. And an and and he was of course in the guy that was administering the trust him anymore he he. Caught the guy do and yes and threatened to take him to his complaints are for sure was who is one of your bigger Wall Street firms. But we ran up on these kind of stories. So I just wanted to due to be aware that did there are some people in very high positions who are. Herbal advisors in May be one of the worst in history wars of guy by the name of Barack Hussein Obama is that it. Now if you want an example. Of a complete. Biblical fool when it came to managing money you couldn't found a body of war saying that the Obama listen to this. If you look it in the in investment terms. Keep in mind that the left dominated Obama administration. Was constantly promising that they were going to stimulate the economy and fix everything well. In the process of case. All of the money deals eleven point six trillion dollar stimulus package it was supposed to fix the infrastructure and create all these jobs. Well. I'm thinking this way if if in the investment business our job. Is to try to take a dollar. Of our clients' money. And could make money within didn't let that many compounds to create wealth that's the best the basic. Way you go added isn't. When you think it that the pink top guy in charge of negated the X. Well. Intelligent governments and I'm I'm some might argue that's an oxymoron. But just try to do the same thing they may borrow money do fine to finance infrastructure but they do to generate. More growth and tax return well that's not what happened with the Obama. Member all those shovel ready projects that never happened and all the dollars ever supposed to go to work. Remember all the municipal budgets. OK so here's the numbers. Through Obama. The government borrowed eleven point six trillion dollars between 22008. And three team that the US economy. Only grew 2.5 point line in other words so every dollar we borrowed. We got to return in economic output of 44 Santorum better way to say it is we lost. 56. That's not good great return and all seaweed staying. In every borrowed dollar would have guaranteed at least two dollar coming back. So in this way Obama managed the largest the greatest portfolio there was the United States treasury. And he was it colossal only bad investors where as. President trump is turning out to be a fairly good wood who by contrast. Is cutting fat waste fraud and regulations. And our economy is booming as a result and here are some numbers for you survey this week. 61%. Of Hispanic. Workers say they are better off now. Then they work. Under Obama. Gross domestic product ever battle but one point 7% were we've been hitting right around the 4% level in in pretty much any metric you wanna choose. The guy that's running the US portfolio by the name of Donald Trump is doing a pretty dang good job and by the way it looks like he's getting ready to save some money in Europe. Well I'm glad that he's not going around apologizing. Every Tommy turned around and every time he gets from a foreign country. I was in a car last night it was listening tend to Serb radio broadcast on fox and it they were replaying speeches that he heads. And done ever that the the course of his tenure and in the apology tour how arrogant Americans are saying. He was a failure more ways than one ranked as humans. We. Emphasized that when you come in and talked with us with a free common sense retirement review. What we're trying to do is make sure that your basic living expenses discovered with guarantee Manny. But the problem. With all the guaranteed money that we usually can count on. Pension plans is that. They're problematic. Talking about Barack Hussein Obama. An article here about the truth about Illinois pensions in one stunning chart. And it says one graphic. Perfectly captures the asserted the of Illinois pensions over the past three decades. And let me just sort of explain to charge me and sometimes that's hard for 1998. To 2006 saying. They have some benchmarks. The resident population. Is gone up over that time about 10% pension membership is gone up about 50% inflation has gone up about a 100%. Median household income has gone up about a 150%. And the State's personal income is down about 225%. Frenzy or you know over that time. But the promised state pension benefit. Have gone up 11100. Person whom I missed I don't say that promised. Yes what they have promised people but I have no money to pay. They tennis a state pension. Yes for Illinois that goes back to the oxymoron you just said about that intelligent government which he said so hundreds of visiting government intelligent government is how. So that is a case in point. Grossly. Underfunded. Pension plan that's going to be problematic in the future in the east teachers and firefighters and people are counting on this money. And Illinois is in the bottom five. States in the country. It's far is underfunded pension plans now North Carolina. Is in the top five you know they have a 100% funded pension plan. Guess is in the bottom five with Illinois South Carolina last time I saw time on what he's alleged he was 58%. Funded. For every dollar they need to pay future promised benefits they had 58 cent. When you go into retirement. With. Countries. And states and all this stay at everybody's borrowed. You need to make sure that your personal situation is taking care of because you may not be able to count. All the things that you traditionally count on and that's part of what we do. When you give us a call 1806876768180687676. Say. You have a free common sense retirement review where we attempt to give your rock solid retirement plan. And make sure that the lump sum money that you have. Is in the situation where your. Not going to run out of money long before you run out of breath. So give us a call 180687676. Say look this up on the way admit CA SRP. Dot info. In essence really what Philippines is saying here is that that one must be prepared. To fund. Your own retirement to create his or your own pension and that's one of the one of the the things we do try to a look at that first and foremost and right now people are. People are taking so much. Risk in the markets because the markets have had a good run up and and that's wonderful we're glad our clients have paved and well as well because of it. Rising tide lifted all boats the difference is though we take a much more defensive kind of an approach to at all. Well this is why this matters so much if ever. There or time for you to lock in the gains that you who have achieved. This should be good time to do it because there is a piece this is from MarketWatch. Shawn Langlois west. And the entitlements investors faced devastating losses if you smoke remarkably accurate indicator flashes and this is something I've talked about we've talked about a good deal. Self. Would you have appreciated a single number that might have given you a clear and unmistakable. Warning. For the tech stock bubble collapsed. And I think a lot of people like and it. Once signaled. That is a very long history predicting economic turmoil. Could provide a very tough. And very hard to overlook. Signaled that that is exactly what is ahead. The yield curve inversion. And he'll Korver inversion is just the difference between the interest rates of short term bonds which is the two year treasury in the long term bonds like continued treachery so. Typically if you look at history they slope upwards the curve is. Inverted it is we call it windows long dated yields fall below the short. Term. Rates of return. With the Fed raising short term interest rates and long for meals holding steady. Many on Wall Street now see the shift is a real possibility well here's why that matters. In 2006 that major financial trouble was. On the way he will before. The crash of 070 way he had a similar situation. And we've only seen inverted yield curves three times. In the last 35 years. And that alone should tell you it's we're getting closer to another win. In version two of proceeded to past seven recessions in U current versions are herb in the news again because. We just may be nearing another one of these in versions. And their are. Multiple reasons to believe that one of these could do concurrently look at historically low interest rates they can. Tribute to historically high values and stocks and bonds real estate so. In the event. Other recession contributing to a market plunge or renew financial crisis there could be a particularly devastating. Series of losses are percentage basis. In a number of different asset. Classes and didn't the problem isn't affair hasn't. No room really did to maneuver they can't lower interest rates lower in this current environments so that tools lost. So the reason. I'm bringing all this happen and why it's important as. This is Phillip alluded earlier on. There and there is an important. Opportunity right now to take advantage of of what has been in a lovely run up in the market. To lock it in but to create in the process a an actual retirement plan. I just of just an investment plan are 401K or IRA or whatever but for something Scott. A lot of different components to a one of which is guaranteed income stream we feel that. That's essential to make sure that you have created your own income because you can't necessarily count on the engines are for that matter who Social Security recently announced that there are dipping into their trust fund already so we we don't know what the future holds but we know that. You're responsible for self to that end. I would highly recommend that you would accept an invitation to come CS across China and let us sit down and and be quick to listen. To your concerns. And craft a plan. For you. With the goal of trying to achieve. All of the things that are important to you go to our web site common sense retirement planning is were missed who we are that CS RP. Dot info. And you may call us at 8676768. You bring up the good point Tony this past week we had our enhanced it our first class retirement planning course in Greenville technical college. We did that on the tenth and had a wonderful turn out. We had actually have another date that is almost fall on the seventeenth to where we will be unpacking all of these concepts. One complete section is actually dedicated to. Identifying how much of your income is your responsibility. Fun looking under the hood in identifying what sources are gonna provide guaranteed income. Assuming that we can depend on Social Security's guaranteed income sort of say that tongue in cheek and really having a clear idea. A win promises are made as it pertains to Social Security. What page are really into being what they had been historically what their projected to be in the into the future. So some additional ideas. Just to mention in sync with what something that you just said. Are the pension plans so many folks when they began working about I work 25 years get a gold watch and get mailbox money. People need to understand. And be exposed to a different ideology. That allows one to create a personal pension. That has the opportunity for long term success with solvency ratios that are able to withstand the test of time. She bridged that gap but because I think she'd be shocked to find out. How much of your retirement is your responsibility and that shift began. In 1988. In 1988. There was a creation of a defined contribution plan called death does. The 401K. Well guess what that did that allowed for many corporations to get out from underneath the weight. At having to make good investment decisions to fund programs. To support their retirees and deliver on their future obligations will bite you wanna be under the thumb anymore so that's when they shifted the burden of risk. TE your investor. It is on your shoulders. The success or failure of your retirement. And possibly thirty years of unemployment another way to look at it heavier financial future. If you'd like to come in for free common century Tamarine do you give us a call at 10687676. Say. 10687676. Say and Lucas up at CS RP dot info now when you coming and Tony. Sometimes it surprises people but what we do probably is not gonna look like orchard doing now. I I guess some risk taker and some in some ways I'd a bare hand in Alaska for. If Tina Brown grizzly bears an hour ride motorcycles and Aaland in. May is the Pacific Ocean island bad looking for the mayors but when he comes to retirement planning I'm not a risk taker I'm a realist. And will take risk and we need to. But. One thing I've noticed is when our ride my motorcycle up to the blue ridge parkway. The trash cans on the blue ridge parkway don't look like the trash cans in my backyard. You know in my backyard trash cans or plastic they go live on amenable ridge parkway they're made out a quarter inch metal and they look more like sorely. I think you put that like the old. Postal. Things look like and the calls on the blue ridge parkway they have mayors. All right and they have to do something a little different up there but calls they have to prepare for the mayor's. Well what Osce summit houses from people coming in and show us their retirement plan. You pretend they're trash cans and he's I'm looking at NASA and look that's a fine trash can. Except now you're going into retirement and it needs to look different. Because you're going to be up against some things that you haven't been up against before. The calls that bear market a bad bear market ride at the beginning a retirement can completely destroy your retirement. So we show you how all the ways. To attempt to bear proof your retirement plan so that when this bear this coming and everybody says is coming. You're gonna be the one this prepared for rather than just think well. I'm not prepared. That's their whole job is to get you prepared for retirement. And get you prepared for this upcoming this. In over thirty year period we may have three bear markets if you'd like to see all the ways to bear proof urged him to bear proof your retirement plan. Look this up at CS RP dot in. I have to tell you for any I called it a godly guy I've always. What people call coincidence I've come to call god winks I think god. Creed injury or universe and all the time if you paying attention he gives you little clues will. So I got a call last week for a fellow that he is is taught me many times since you know when I. Get ready to Cuba to actually. Drop the hammer and retirement come see. Who could MBA really go anywhere I got a call from the so last week we had a wonderful chat room in the conversation. He mentioned he bought a motorcycle a triceps try. And and we were talking especially you know Phillip actually has. A motorcycle and he writes all the time effect these plans to ride it's employing mixture may be taken right all the way up to Alaska. With a friendly as we see your kidding so we're talking about a let alone would be whole Philip went for a I did. On Saturday. And park the motorcycle you should Caroline loses like. Now I would do we good arrive we rode up to lose our road to the parkway bit on the way you right up through caesar's and did so when I got up to the top the Caesars is that. Took a little break. A park this cycle next to a tried to my helmet dolphin. No this man look good as it Philip Allen. And sure enough here. And definitely the man that Tony had been talking to. But a bit and hit and he inlet we were so I was very flattering CCC deny it one thing in a match you guys registered as a fellow believers Susan and I trust you net. Is of all of the things that we may be prep proudest I I would have to say defective people. Trust test. In and have for a very very long time and an end but which one of the reasons if you he wanted to talk to. Our clients we happily. Give you references we can give you references of people have been clients for years have been with us through hard times and in in the good times and they continue. What the differences between the kind of bear proof trash cans we tell us about our industry and the plastic jokers to rest the guys. Confiscated. Illicit. In all seriousness right now is that it there's so many potential things can happen in the war right now with the with the trade wars of potential for actual war center. So at some point the dominos will fall and now's the time to protect yourself so police. Go to CS RP dot. Inflow CS RP got info call us at 8676768. If you wish but however you do it coming and and let us put together. The kind of retirement plan you always dreamed of so you can have an opportunity to. Have a shot at getting that kind of life you've always dreamed up in retirement again. Andy is CS RP got into stick around we will be right back. Welcome back to common sense retirement planning this is Phillip island with my best friend Tony de L and our league advisor in the firm Rebecca king Kate and we're here to. Do you view the alternative to the mainstream financial Prius as professor can or yes or generating profession that it. But. Before we let we're talking about. We always talk about that a good investment plan doesn't necessarily make a good retirement plan things have changed. And I was talking about riding to the blue ridge parkway now Saturday honor the boorish or where I got to the park way. And when I got there could see in my hand and from my face and I was Smart enough to say there's no way and one on the parkway like they as hard Nancy motorcycle and so cleared a much less. So I turnaround came back home. Was talking about that the trash cans back in my house or how much trash Indian Wells in the problem is I got to thinking that maybe that trash can and now these sound negative. But even here since you're camping in your backyard. At home. You know and rainbow. You can just pitcher's stuff and a cooler maybe. But when year act in the Great Smoky Mountains on the blue ridge parkway camping you better take your backpack your survival here. You won last savings if you look at it like that and you better take a rope and string it between two trees. And about twenty foot off the ground between two trees about twenty foot apart is where you need to have your backpack McCall's if you don't. The bears are gonna get into your backpack but call something has changed. When you're up there you've got to be careful very careful about mayors. You've always heard that what won't kill you makes you stronger. Except mayors there okay had not met. What we're trying to say is going into retirement it takes. A different mentality but calls the mathematics changes all the mathematics of loss. And if you have a big drop in your portfolio in the early years of retirement. Taking a four to 5% withdrawal. Then in ten to twelve years you may not handing anything lay FB calls. Withdrawals combined with a bad bear market early in retirement can completely destroy. Your retirement saves do you have to have other big also. If a bear gissin your equipment you gonna destroy your camping trip or destroy your backpacking trips you have to take special precautions. A common sense retirement planning we know who. All the special precautions that need to be taken with your one life savings. And show you how to implement it so you'll have a successful. Retirement trip retirements like being unemployed for thirty years. He sure don't wanna run out of supplies halfway through that give us a call 180687676. A 180687676. Say look this up on the way at a CS RP dot info. In this area have been scheming talking about an investment in Philip this is some of the material that we discussed in the classic Greenville tech. Is deaf principal of mathematics specifically the community is principal of mathematics say book good night what does that mean. Well. It means that regardless of the beginning value or the Indian values and how you flip the rates of return. The end result is the same. That makes sense and so okay so if our to start out the wind at beginning value. Of 400 in 49000 dollars. And I had negative rates of return in the beginning. And a half positive rates of return in the end. An hour to reverse that is in had negative rates of return to beginning and positive rates of return and end of my result would be the same. As far as the actual as far as return as far as a rate of return and crank. So what that means is is a body an area operation and it's commuted him. Right so by that I mean that when you are crooning assets. Debtors sequence overturned. Risk that you get or just a leading to. Doesn't bother you because you're not taking withdrawals out of the count the return and the value at the end is going to be the same. Where do you had big losses in the beginning our big losses in the end. Sure it only comes into play and where we start talking about and I daresay the stupid trash King and I mean it was your mathematics and the backpack. They talk about bug out bag here. And is. The sequence overturn risk really becomes an issue they really only becomes an issue when you start distribution and I daresay. That we have worked with many more retirees over our how many years together Mon may need to a meeting. Okay. I've been doing in nineteen so again ever nag me for me Phillips birdies on so many many years. So we've seeming impact of reversed also the dollar cost averaging eight and sequence ever turner is steering distribution. So dangerous things we wanted to pivot and take a proactive approach towards. Is getting ahead of those breast says they your retirement income plain and stays on track the. One of the things that is seen you've probably talk about it is Rebecca in your class. The dollar Einstein this is credited with saying that one of the greatest. Miracles of mathematics is the law of compounding. Nobody were close sentence that follows it but it only works. When you are making money. When you're losing money it works. In reverse or against one. Well in essence it's kind of what they are both Phillip and Rebecca have been talking about a sequence of return risk is essentially that. So Tim just to use simple. Numbers. You retire you got a million dollars. You start taking 4% which is what Wall Street tells everybody you can do based on the quote. Average. Rate of return what the problem first of all is that. Markets don't behave in average waist you can take an average over 120 years. But if you happen to retire for example in 2000 or 2007 and eight. You're going to experience anything but an average rate of return. And they urge your sequence of return that they're talking about so the example would be you have a million dollars is 2007 and eight. For three years you take your 4% that's a 12% withdrawal seem very taken 12% now let's just say conservatively you lost 40% because of hit the market lost fifty sand and this would be. The list to say that music number last 52%. Of your entire principal eaten up in three years time. In a combination of losses in the market and accommodation of income now he took the income because you needed it didn't you. Furthermore. You probably based on your planning on bad amount of money whatever it is but now. Half your life savings are gone. Now you have to reassess everything. Oh my gosh 4% of half a million dollars is a very different amount than 4% of a million isn't it it's half as much. Now you think oh my gosh are we gonna have to live on half as much money. And the question next question is and what if we continue to lose money why we're taking it out and what if we lived twenty or thirty years. Those are the questions. One has to address if you are going to look at this from a retirement planning standpoint. Rather than just a typical. In this trip planning standpoint would you say hey let's Willis who issued for this trade return in this with the market's average and we can. In B diversify in all of these other tools dollar cost averaging and so forth. Not that there's anything wrong with those tools able places is is Rebecca pointed out. That is all well and good if all you're doing is accumulating assets but wind NeuStar. Taking income. Or add or and or wind we knew or within say ten to fifteen years at the point where you're going to dubious. Didn't you have to begin to start to plan for those sorts of contingencies fact the fellow that we were talking about on the motorcycle. Philip when we were we were talking before uranium to a he say look. My my dad is ninety in my mother's 88. And I'm 57 hit media the day. I mean after I may live that long I gotta get after it make sure that that I'm gonna have enough income to get me through he gets that equation so. If that is the kind of planning it sounds. Like what you want to to achieving your retirement plan. Then you need to talk to me retire McLaren in and we believe it. We hear that the people you should talk to we are the Iran upstage original retirement planners. And do so by going to our web site. That is CS RP dot info and CS RP dot info or call 806876768. And callous yes. We usually talk to retirees pre retirees that. We also. I'd like to talk to you about something that's new with us for. The forty year old is among us. Or younger if you're interested in protecting. Your life savings. Is a self directed brokerage account inside your existing 401K. Some of the largest firms. In the area. Have pre approved the company's that we work with. To manage some part all or all of your existing 401K. Inside the 401K where you work. All the self directed brokerage account but how many times have you thought I sure would like a better plan. To tell me where I should invest inside this 401K. And all you do is just ga yes. And then they charge you more for. Any kind of advice and then really they don't like giving you that advice well. If your interest in having someone having full fiduciary. Responsibility. Over your 401K. We have options that you don't have now. More options on your 401K and some I don't work with you on a regular basis to attempt to maximize. That life savings even though you're still working there. There's a chance a good chance that we not be able to do that for you self directed brokerage account inside your existing 401K if that's. Of interest you at all give us a call 180687676. Say. 180687676. Say. Look us up at CS RP dot info and we can let you know whether that option is available. Where you work. And so announced they were able to do with being in a fiduciary capacity. Is we now have the access in the availability to be able to stress test your 401K. Is it what does that mean. So people come in until pretty confident in the long term sustainability. Of their investment plan. In this interest rate environment and taking withdrawals offer that asset. What we're able to do is around a simulation with about a thousand different possibilities. To show what they different outcomes would be that's number one number two that were also able to assessed. Eight current. And up to date. Risk tolerance is situation with with you personally. And then see if that current risk tolerance actually aligns with how your 401K is invested. I have not come across one yet that was not light years away in it is staggering. But if we don't have any choice right now but to still work women. The realm of the 401K because as a each constraints or were unable to do the self directed brokerage optioned. We are still able to work within that 401K to help alana forum when K. Closer to butcher actual goals are for the assets you'll have a better idea Walken out of what you have been when you login that is. Pressure. Not to me the weatherman but if you see your now my god do you see a letter and mayor's ads can get away from it if you see hurricane model. And that thousand models. And 900 not nab them said the hurricanes gonna hit within ten miles of you you might consider mode. That's just like smoke that's and that's what the kind of thing the Rebecca is talking about gives you an idea and may be. It gives you a clear idea of the wrist that you're taking we found so many times that people are taking far more risk than they realized. One of the risks they tell a lot of people do not take into consideration. And frankly they don't because they're not being told. The truth. Is deep danger data inflation. Poses in your retirement I've always. Likened inflation to having well a small hole in the hull of the boat. Figure out figure out sailing along and everything is fine you don't realize the boats taking on water until one day you. You wake up you walk on banking thing is this thing lower in the waters in my imagination the next day he gets come in over the goggles. And Donald that's coming over the side of the boat paint and end. So. One of the one of the things that the government has done frankly is just beeped strait of dishonest witness. And they're enough uncertainties of life but but these these Federal Reserve. And the federal government. Give us an official. Inflation rate. But it has no bearing. On what is actually real right now for example leave they called the CPI EU. And is already running above target of two point 8% as of today. But this CPI used measurement. Doesn't bear anything call close to the root is resemblance of what most people's lives are like. This dedication to basically panel on this and it leaves this thing wide open to abuse. Because they control a married man and that the reason that they dude this is because the fans say it's monetary policy. And because we've made all of the pension like promises for Medicare Medicaid and so forth and booze and and government retirement plans. Cost of living increases for those are based on that CPI you bought it and here's the main point why make what is. Independent estimates suggested. A price inflation rate of around 10% and and this depends on you or the location. Is a much more likely. Range. They and is being broadcast by the federal government and and I know this probably doesn't come as a shock you because we. The promotion of learned that you can't trust everything you're saying that reason this matters so much. Is win you go about retirement planning. If you don't factor in. The inflationary component that if you don't find a way to hedge inflation. You could be having all your boat in the boat's sinking his. An and I'll I'll I'll give example one of that in fact there's this there's a fellow came Fisher he's constantly dragging on annuities and everything in the that's like just saying automobiles are bad because our all these different kinds. But. There are a lot of abilities that the earth that. In fact this is what pensions are basically. Dead or win you start taking the income from the eighties. You immediately have to give up your principal. And that means two things. Use the new attend sort of be the pensioner. Are the one receiving the incoming when you pass away even if just the day after you start income. Well you can't believe what was still remaining in an account to anyone you for new ties since the word for the Cuban knew it ties the money's one of the reasons. It's easy did. Two. Rag on annuities and that the problem is that that's that's just the old type there that many. And there are many annuities out there now. That. Will guarantee an income and and also. Reduce it without you giving your principal way to get it it's also an income for. Two people and you can leave the remainder to someone that you passing. Is the most important part in these and this is the approach that we take. Is that what they have inflation there are renewed year after they have in full built in inflationary. AG's. That's an important part of the equation too so. Won't win you start thinking about. All the confusion it is out there in the marketplace is a good idea come and talk to somebody who's willing to sit down. And take the time and explained. All of these confusing things if you listen to your questions and answered them. Honestly. And if that sounds like the kind of person you like to deal with wouldn't that sounds like us is just. We approach everything we do dislike the question is common sense which Santa in their in the in the day and age we're living in common sense has become all too uncommon. But that's reason we named it dad. We want to make it simple enough so you understand what's going on. So. If a retirement plan. Sounds like what you need. Rather than just willing million and an investment plan may be a winner may be loose. Then please come and CX. NC SRP dot info or call us at 806876768. Ed much in my business I read so many articles by so many people and I have people are respect. More than others that I've been reading for years and if I had to name one person that I respected more than any others that I have in the past. Failed was spot on them. About his predictions. His philosophy in Manny. That would be Scott minor. I've been before any any since you bring him up I want you to tell the story because it was felt and Aaron New York a few years back in Manningham and heard him speak. And he told a story that this did to this date resonates with. Still still a story first we were clear at this meeting and we're actually Scott minor it is. The head of investing egg Guggenheim partners and they actually on the Guggenheim Museum in new York and we were at a meeting at the Guggenheim Museum which was pretty nice and he came in to speak in people from all over New York came in to listen to him. And he gave a and analysis. And it the end he's an about to give you my short term. And analysis of the economy and over the next year and a half he was just spot on. But the last thing he said was he's also allowed to give you mile long term analysis of our economic system in heed the way he said it. Got my danger he said I feel oh with two people these days. To. Let you know what I really think about the economy and he says they're not do that by giving a little story. He sit pertain in that thirty years from now you've got sure grand. Daughter on your knee and you pull out of dollar meal and you show it to your granddaughter and he's telling us this he said and he's tailor your granddaughter said honey. Said people used we'd give them the dollar bill and they would give us things and values for this dollar bail and return when we gave on the dollar bail. And she look at you and just laugh and say grandpa. Everybody knows papers not worth any thing. And that was the end of his speech and I think he was trying to give people warning that our system is a very precarious system that we have today they did. Here's his short term view right now. Says Guggenheim partners luminaries Scott minor and say as this rally in stocks is the last two rock. Warren's. Even hounds minor. Chief investment officer of Guggenheim and one of the world's preeminent Mon fund managers advise more than a dollop of caution should be employed by investors. Who risk whistling through the proverbial graveyard. He did a Twitter. Posts and markets are crazy to ignore the risk and consequences of a trade war. In recent days miner has also pointed out to the flattening of the yield curve like Tony was talking about. A line that plot yields across all debt maturities particularly the two year treasury. A flattening curve is a bad omen for Wall Street and in applies expert. In black as expectations for an economic slowdown hit. Hints increased buying as the long into the curb narrowing the gap between longer or shorter term notes. When the yield curve actually becomes. Inverted a stock market danger signal occur to most important the inversion of the curve. When short term rates exceed for their longer term to our board has been an accurate resent the recession. Predicate here predicting the last seven recessions. Once again if you go into retirement. In have. A bad bear market recession ride at the beginning of bed and you're taking withdrawals you can completely destroy your retirement. If you haven't seen all the ways to bear proof that retirement plan give us a call 180687676. Say. 180687676. Say look this up at CS RP dot info. Don't think people really understand if they've never been in the space in seen the long term. Effects of taking withdrawals in retirement. Is every time you take money out of your account and spend it to pay your bills travel vacation whatever you wanna do you just created a permanent loss. You've just created a permanently lost its permanent because it's money that you spent elsewhere. And it's permanent because it's not going back and and that's a very basic idea that I think is minced a lot of the time so we're talking about a couple of minutes ago the 4% Rome. If we're looking at in a couple of shows again and I mentioned this before I'm an avid listener to the Shannon. We were talking about the actual real rates of return that in fact that actually reflect Dick inflationary drag on interest rates disperse accrediting. And you're looking at a two and a half percent really. Real rate of first turn after you account for inflation and a ended the stock market returns into the future how was at 4% rolled gonna work. How soccer work exactly in a long term even if things don't go to hell on a hand basket how was I gonna work on your psyche costs only worrying constantly have to put a bigger drag on the account about a same pressures and public. As you do today. That you were you here on such a good point for barricade in in and it's it's kind of one of those more subtle parts of of the equation of retirement planning. But that being almost have any line in and spending more free time and I used to in and talking to so many people. Who are retired of course doing what I do for a living. One of the things that it that I I notice is that. The people who. Have settled in their mind. If they have a good plan in the it's gonna be okay. Have peace of mind. But if you are situations such as you were just describing where you are worrying about my gosh. What if you know I'm calling this money out of 4% and we took is in this tough cost this much in home high cash fortify. A farmer not a burning and the time you know it's too late to do anything about it I what's scary is so so so even if you didn't run out of money EU would have been miserable. For the period of time leading up to when you finally did go home no no word connect and that is kind of my point here. Yeah we talk about money. And we talk about economics mostly on this program but the fact of the matter is. You or enjoyment of your life is all you have. So you couldn't enjoy true wealth which is relationships. The time god has blessed you with in your health that's what's the money's there are two to fuel as those things if you if you worried about learn out of that. It's gonna mess up the entire rest of your equation. Thus it is eight were eight time for you right now. To lock in your game to discrete bull market can happen up to now in sit down with us and balloonist craft a plan for you. That will address the things that concern you so that you can go into your retirement. Feeling. Good about it and having some piece about what's going to happen. Help us help help us help us help you go to our website CS RP got in for call us. 806 a 76768. Got Galicia. Will be looking for the mayor's.