Common Sense Retiremet 8-18

Common Sense Retirement Planning
Saturday, August 18th
Common Sense Retirement Planning

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

Well good morning welcome to common sense retirement planning. The regional retirement planning show in the upstate we in the State's original retirement planners. And the show is designed to be the alternative to the mainstream financial press which is just as bias really. As the mainstream. Fake press the mayor Sam and all of that didn't so what we want a new day. We share information if you. There are tons of shows out there that are infomercials. And that's what they are. And then granted we certainly would love for you come and visit us say it's what we're hoping for a bit. We believe that where they're hatch come see us we want you walk away he's having listened to show that will hopefully not only uniform you've been. Also entertain you a little bit. And out we have some fascinating things to share with you today. We also had common sense retirement planning have always handy biblical stewardship. World view in this we'd always began this program was something from the Bible. Today owner read averse than average in the past proverbs 2120. And it indicates that saving money. And the little bit of prepping is a good thing it says there is desirable treasure. And all in the dwelling on the wise but a foolish man squander that. Well let me pick up. I'm sort of bad bad bad as the blue use that is a baseline because what wind when that person is behaving that way what has to happen is you have to. To wake up this this is an interesting for salmon are tied into to a bit of a narrative today. Romans thirteen eleven. And do this knowing the power. That now it is high time. For us to arise from sleep. And this. Bursts can be taken on a whole lot of different levels and should be course he's talking to the church in this particular case in and specifically. I would say that the modern church and even in America in this what do a one time we called one nation under god. Much of modern christendom has fallen asleep. And because of that we've allowed much of what we call modern. Socialism marxism. Cultural marxism. Political correctness all of these things. To win today. In our culture to a large degree. So on that level I think yes if you count yourself. Oh. Follower of Christ then it is in fact high time to wake up stand up speak up and and be ready. To speak truth. To the enormous amount of false and up here. This could also be applied in the context with which we deal all the time which is being aware of where you are in New York. Life economically. In the in this world as far as retirement planning. And and there are a lot of reasons. Which we're going to share with you today. To wake up and look around you in CE. There are some things. Under way they can have a enormously detrimental effect. On your retirement plan so. Are you one could say your blues this is analogous to sleeping through this team your bull market that we had. And gaining sort of accustomed to is if you will go on forever and much of the mainstream press would tell you that is exactly right. He's going to go on forever well it won't. Now here's here's where this kinda gets confusing and I could just bear with me a little bit because I want I wanna DB short of a way to think about what's going on right now. Part what I wanna do today and what we want to do today is we want to clearly. I forgot to introduce Philip Allen and Rebecca Kincaid and here in break my hand and don't worry about the leader name opponent and anyway. You even though these are the three of us and this is what we do billion Hume the three amigos at three amigos. And the illegal it and and as so. I want to first differentiate key in this is important you understand is the difference between. The broader economy. And Wall Street in what's going on player. Because many people make this mistake of thinking OK. Well they're the same thing on the first a little history. This week there was a lot of talk of Palin even Lindsey Graham. Like the loafers Lindsay was out they're saying we get we need to get out of the do you just highlight Nolan if I said that. We'll we need to get at the World Trade Organization. Aggression say give China out of the World Trade Organization there's a lot of what's going on out there in the news right now has to do with the our Arab president trumps. Fair trade practices of these demanding that China so let's go back and understand what's going on their first of all. During the Clinton administration and it was decided to China was the biggest market out there in in in numbers of people and the best thing in the world would be for us to have them open their markets to us. And we opened our market demand and everybody would it be happy we have this global trade thing where everybody's making money in Hispanic. Only problem was China didn't play by the rules they are not. They stole our intellectual property they put up terrorists and their own ass by the way didn't Europe. And so trump comes along and changes it's not I I want to make you aware of something you may not be aware of are you aware. It der starting from the Clinton administration. Up to present. There was a 33%. Drop in manufacturing jobs. Overall incomes plummeted because manufacturing went overseas thanks to the multinationals. And the multinationals and Wall Street had been driving what's going on. In our economy for a long time when Donald Trump's come along kicked over the apple cart in completely changed the dialogue so that today I'm sharing this story here. From CNBC and this is about the broader economy. We we have now I have the highest confidence of small business. Since 1983. And it's almost tied with the record. 110 to a point low below the all time record. Confidence is small business as opposed to big multinational. K street lobbyists with world the swamp there deep steadied the global list and so forth. This should be a time to be very app because it means in the longer term. There's great potential for this economy. And the reason I want to start with this positive news today is because there's a lot of negative news we're gonna share with you about. What's happening in the stock market. And why you need to be in verbally. Careful about what's happening there. And there's. More good news Philip has some some more good news to share with out of Brian barker. August the fifteenth. 2018. John Carney writes says boy yet. Customer sentiment boosted retail sales more than expected in July while bigger than expected productivity gains point toward lower inflation. And possible wage gains. Said productivity rose two point 9%. That topped expectations for gains of 2.5 percent was far above the paltry point 4% increase in the first quarter. This is the Federal Reserve's New York State manufacturing survey also highlighted economic strand and showed no signs of stress from terrorists. Nor. Reports of partial shortages the survey came at a 25 point six. I'm moving higher when economists had expected it to declined to twenty. From the prior reading of 22 point six so that was very positive. News that wouldn't that mean in Philippine. Cash stock market or just keep going in right unless the stock market is completely unhinged. From the economy. Which we believe it is. You'll notice that even today. Last week is is Wall Street keeping a close around Turkey is like nothing. Affects the market. Because. It is and he changed from reality but eventually. As the books they had somebody will notice the Keane has no clothes. Moment. Boot. Pants king has no clothes ascent quite quite a visual and none. You know it's what is sinks to where you really have to look at where you are and where you wanna be in the next five to ten years if they keen. Realizes. That he in fact has no clothes on we certainly don't want people achieve. I'm misunderstand. Is the the correlation between small business in the economy and how the economy and markets seemingly running in tandem that don't seem to be connected together. I have a piece here interest in peace firm CNBC in this is from Mark Cuban. And basically he gave he's explaining why I mean this is from CNBC on Monday. The thirteenth. Of why he's holding so much more cash than he normally does. And he goes onto explained he is concerned about the stock market and US debt levels. Quiet. I'm ready willing and able if something happens to invest in what's he talking about something happened a crash says that. Yet but I'll blow by high just by. It tariffs aside to decide what the president is dealing he's got his reasons acumen. He's digging ever rhinos he didn't like Donald Trump but there's just no way. Where you can say I just trust everything that's going on in that concerns me. He believes and I quiet we borrowed from the future to kind of pump up the market the current market. Running at the national debt is just as bad as a Federal Reserve continuing. Historically low interest rates much longer. They needed after the 2008 financial crisis. Quote again. If I'd get the feeling that economic growth will continue at a four plus percent in the debt will then come down. Then on my eight get back into the market. Since he sees something and that. We believe that we see is well. And I think he makes a good point to we borrowed from the future to kind of pump up the current market. Future expectations said. There again further taking home that point but the market seems to be unhinged. From what the economy's doing and what's going on around it. Which is why did we can not bothered to invite you to come CAC today that I want to before I share this next bit of information. And he's here's why I and I started talking about it's high time to wake up it. And there has never been a time in my. In my lifetime. And 71 and I've been to a number market bull markets and bear markets now been doing this for a long time. Filthy little longer than I have. It is time for you to consider doing what Mark Cuban. All the folks of Berkshire Hathaway a lot of people are doing we cheese. Lock in New York gains while they are they here. This is on the way to becoming the longest bull market we've had. Telling you dated some point he's gonna shift and you don't wanna get caught. In fact does it is imperative. That you do something now to protect all of the good stuff that has happened to you and to do. Which indeed is. A common sense retirement plan. Which is what we create for you it doesn't cost you thing to come into news we see how we listen to you we will help you evaluate which are already doing. But remember. Having eight. Solid retirement plan is a very different thing we just haven't mentioned mutual fund your 401K with a bunch of mutual funds and an end. Just kind of hoping for the best. You've got. You've got a lot more involved in it. Then just stand and that's what we wanted to talk Cuba so. Go to our website. Common sense retirement planning is our company's CS RP stands for comment and retirement planning. CS RP. Dot info call us at 8676768. So I wondered just quickly. Share with you even Philip was just alluding to India says was Rebecca. There was a piece in this week's Wall Street Journal. The eight best predictors of too long term market so when you think retirement planning you do you really think your long term write this to mark Robert. In your 46 Wall Street Journal. August 5. Stock markets return over the next fake it is likely to be will be low historical norms this is the unanimous conclusion. Of eight stock market indicators. That are considered the most impressive track records over the last sixty years. They are that's the only other time. Debt it was a more bearish indicator using these indices. Was that the top of the Internet stock bubble. And these are big deals so according. To Ned Davis for search. Gather from the Federal Reserve. This percentage right now as high as it's being in a very long time soaps so. It is remarkable. This indicator is remarkable. In his record of being accurate. They are. The Q ratio calculated by dividing. The value of the replacement cost of assets. The price to sales ratio these are the individual things are all calling for market correction now. The buffet indicator which we talked about last week that is the ratio to total value of stocks. In the US divided by the gross domestic product bears Robert Childress cape ratio. He did in yield traditional price to earnings ratio and the price to book ratio. Each of those indicators. Track record to significant. At the 95%. Confidence level. It's dedication is news when they assess weather pattern is genuine. An analogy here. Is a leaf and a hurricane. You have no idea where the leaf will be amended or an hour from now but eventually. Gravity will win out. And the leaf will land on the ground that at some point what happens when markets don't beat a leaf. And there's an article at a zero page eight measures that you relating to say crash is coming and their goal is for you to be careful with your money. That's a that we want cheated not fear we just want you to be proactive and be careful with your money but this article goes on say the problem with valuation measures that it does not mean the stock market will have annual rates of so 3% every year. Over the next ten years it does main. The stock market we'll have stellar gains some years a big crash somewhere in between. Or several smaller ones and the average return over the decade will be loath. If that if valuation measures take your problem is coming but don't tell you what to do than Wall Street's answer simply do nothing. After all you'll eventually recover the losses right. However getting back to even and actually reaching your financial goals are two entirely different things. We often talk about that spending eight to eighteen years of your time horizon making up for losses is not an optimal way to save for retirement. But if you were in retirement you have got to worry about running out of money in retirement and the best way that she can do that. Is go into retirement in their BA big correction at the beginning of your retirement. At article out Wall Street Journal says it's time to rethink some common beliefs is says when saving for retirement calculate the number. The amount shall need without running a big risk of deep cleaning your savings when in retirement spend no more than 4% of your initial malice adjusted for inflation. He said you know that's conventional wisdom. But Morningstar says but with both stocks and bonds expansive by historical measures and people having. Longer retirements. Researchers are rethinking these rules to better manage the risk of a market declining goes retiring now is pretty dangerous. Now repeat their retiring now is pretty dangerous says David Blanchard hit every charmer research. Firm Morningstar. No one knows what will happen in the future but among those who make forecast there is an expectation of lower returns. Here. So if we're going into this where there may be an end imminent crash and your close to retirement don't you wanna find out. Hal to. Protect yourself against that because the result of that will be a big crash in the early part of your retirement. Time horizon. Generally means you're gonna run out of money. Long before you run out of life and one other article. Tony gave this to me and because he knows that Scott minor it is one of the people that I look to. City if there were ever a moment to harvest gains. It is August 2018. Warns Guggenheim is minor. Scott mired isn't bullish on US stocks and he can't emphasize that point in left. Here's his Twitter post if they were ever a moment to harvest gains and reduce risk it is August 2019. If it turns out not to me the moment. I don't think you're giving much side. We want you to give us a call 1806876768180687676. Say. Jim Lucas up on the way a bit CS RP dot info. But the reason we want you to call is so that you don't take your one line savings. And retire righted the wrong moment when there's a super. Correction in the market and destroy your one life savings CS RP dot info. And all this stuff is really exhausting. Is half. I'm using it I'm just thinking of this as a consumer. I'm listening to all this and you just wish. I just wish there was wind up right away to retire and I mean Tom's doing here that like they're actually gave. They're kind of issues. I see that well bit but it depends on who you ask rights and if you're talking to a Wall Street. You know mainstream financial. Wire house firm you're gonna hear one way they'll have some ideology where you always stay invested in just quite frankly it must be exhausting always okay. When we play play devil's advocate fame Q. Because we've now lived through. Unlike the thirteen and half million advisors who did it come into the business since the crash of a seven. We've actually lived through two of these scientists who I would guess I would ask you the end okay. So if this traditional investments. Stain destined for the long term stock along from all that if they if that is ineffectual approach to it. Why then. Are there are so many people who have literally. Had their life savings depleted sound destroyed. In all both over the last two crashes doing exactly that if that isn't it is is is what they say the proof is in the putting. Person putting Mandy your tort and a plea just from what people are saying and what we're hearing or reading. It's irrational exuberance. It's a recent C biased right center. Just exactly what you just described and we could it several times here thirteen million new advisors have come into the space in the last ten years and all they know. Is a bull market bangs. Paying sprite thanks that's all they know said they then exude irrational exuberance people were getting greedy. And that is the the economic space that we're in right now says you say why would they believe that well. It's recently by a strike the most recent thing that you experience is is what you remember most. Not what hurt the most and that's been ten years again and I scary isn't it I. A patient or else it is it's if you're missing out am I missing outlook of the march this feeling is an overpowering. Thing in Indy is driven. By the do the same thing you were describing there's a whole industry out there and it is trying to drive this market by telling EI don't miss out on this even though Scott minor. Who you just quoted Phillips said. In you there's not much upside you're gonna miss out on if I win this thing turned south. It'll look here. It's just like the analogy with I'm giving different analogy. If you go out and say OK I'm gonna go out on the sailboat out in the ocean. We would say he would not go out there without some life vests. Envy when a storm comes along there's something called a life line that you cook to yourself. So just in case she get washed overboard you don't just get trowel and do you stay aboard the ship united O of adrift. What we wanted to talk about is how you can have a lifeline it's still allows you to sail on the ocean. Even if there is storm. And let me go on to balance it even if you're younger and you're on the lifeline you can ride tread water a little longer than an older person cats are good point to yourself. Go to our website. CS RP dot info make 83. A appoint me to come see us let us listen to your view good goals which are trying to achieve latest give you some. Some. Careful thought. Indian will put together a plan a structured plan and show it to you on how to retire. With peace of mind. And if you like it we will do it in will be re part of the common sense retirement family. If not is cool go your way into what are we warned it. CS RP dot info again this is place to go number 8676768. Stick around ordered count. Welcome back to common sense retirement planning this is Phillip island. With Tony dale and Rebecca Kincaid we are alternative to the mainstream financial press thank you for listening to us on this Saturday. And Sunday and Sunday. Tony you know it's tough getting old and what we do it common sense retirement planning is we. Tried to take worries out of people's lives. But there's all types of things that people need in retirement. Are her story recently. There was these two ladies in a nursing home and their husbands had passed away. And the two ladies were saying about that but they were still British Brian. You know they still would have liked love in their life but the trouble was that the nurse and home they're just not as many Meehan is there are women. And so there can always on the look out for me and then. Sure enough they got word that and a new fellow was company and so then these two or lack b.s in the pod they were always together they said they were is going to be Al sitting on the bench waiting for him to come in. Well they were sitting there when he was supposed to come in and about that time a brand new Cadillac. Came around the corner. And they looked at each other and said you know all things million equal have been heard handle money. And this Cadillac pulls me and well the main gets out and he's. Long gray hair he's tall and slammed a good look instead and they would be just a man missed this get a better all the time one of them was a lot more outgoing than the other lady says she decided someone who have talked to him. Talk to the man and says skip looking back at her frame she goes and does a wide range of shady acres and Arsenault. He's wants hard to tell you ma'am that they let me out. There has been great being in usage and expect her fringes let general war. He said well let me out of prison. And she's out of prison worry imprisoned for he said well I'm sorry but said I've got a temper. And said one day my wife. Pushed all the wrong buttons and I just bared her in the backyard. In the ladies as the great big and she turned around her training news Singleton. Thought I guess it only make any anti terror. But you know reach retirement is staff. And the thing that you don't want to have happen in retirement. Is running out of money their surveys were people. Say that they would they fear. Running out of money more than they fear bag. You know they fear living with nothing more than they fear dying. Well that's a legitimate feeder. This article says retirees will spend the final seven years in poverty studies say. This is out of the street Bob Brian O'Connell. HSBC. The big bank say did analysts estimate. That seniors spanned 21 years in retirement on average. But they run out of money in fourteen years. That say on average says that's a seven year gap. You know if you really yourself fear running out of money in retirement. There are ways to ensure that you won't run out of money in retirement. Everybody's plan is different we have to make specific plans for specific people we tailor make those plans. But we have a certain steel say that that a lot of advisors don't have maybe because limo and in the business two years sometimes like Tony was talking about. Thirteen million people Tony had come into the business that haven't even seen a bear market but we have content area of in come in retirement that's their specialty. And their goalie is. To make sure that you don't run out of money in retirement and your not just one of these statistics. So if he would like to not be a statistic. And it again thanks aren't exactly say the first out of for summaries I can't say statistic. Today. Please give us a call 1806876768180687676. Say. A look this at CS RP dot. In a bit before he had to go and Rebecca I just want to remind you. At Rebecca here reassuring caller professor Rebecca. Is holding some fascinating. Classes. On retirement planning in Greenville tech and I know that they fill out fast so before you share what you got to share your he reminds. Folks of where they can go sign up and. Well what you need to do is give our office a call for now until we at Burnett the online registration wind and they can call the common sense retirement planning on it 1806876768. We will go ahead and begin accepting registrations simply for the fact that we had to turn people away last time so we actually already have a waiting list for. The class is slated for October 18 and 25 and Greenville tech in just quickly again because some people Maine and hurt. What exactly recovering. What are they covering just a litany of information about retirement. Not just retirement income but just different retirement planning strategies with the vets buck getting layering. The 4% role where those are appropriate the pros and cons of each tried AG. Most people don't know a whole lot about Social Security retirement pros and cons of retiring early. Other things that we discussed so I think will be of particular interest for those out there get essentially another opinion on and sequence overturn risk. Reversed dollar cost averaging. They end. Weirdest of trust and know will fit into your retirement plan and good night good luck with taxes. We'll have a CPA president that watch in a filed what provisionally in con man has which are taxes exposures are. Specifically selling investments and retirement. Well our goal is is to educate those that are in that retirement window as anybody's it's 55 and up. To come and just BS spine should be a sponge for two and a half hours. Eight and just learn as much as she Kia and because education is power in the more that you know the more informed decisions you can make. Which they are for bull he'll say much happier and more confident retirement. We really want you to come calls we realize. And you need to realize there's three types of people in the world. Those they can count in those who can't. All right works at it and they can overtake you and I think that credits. I I have to tell you this because filled wouldn't. There but here this friend in the world Phil has just been invited. To speak to a group of some of the most elite. Advisors in the United States in group that you have to be asked to join call advisors excel. In no Phillip has been asked to go into Indianapolis. Two. To speak to them. About his practice and why it's it's our I should say our practice or licenses successful and in all of that. Amenities corner man while he's in the ring and hopefully not your cut man. Now I don't throw in the town Ariel volatility is up broccoli is dieters was unzip her you might as actually anyway and that that I'm I'm proud and so here's here's one of the problems that we face. If this or I should say investors are facing right now there is this tendency and I sort of alluded to before the break about. A man I'm gonna miss out well here's the problem. Unfortunately. Investors have this tendency to not heed this signals. When markets are at their peak. Because there is disbelief and he's constantly reinforced by the mainstream financial press the stocks could only go from here. Okay. So that is absolutely. Not the case and here's the here's the one thing I want you to know it's important. In financial markets. Psychology. Can continue to drive party. Prices values. Far there and further than logic would ever dictate because all emotion. And despite. This apparent just detachment from them stock valuations. You watch these markets higher and higher. Even though. The fundamental warnings. Continue to be dismissed. On any possible. Thing that would indicate more bullish. Sentiment. Well here's here's the point that we wanna make and we make this point over and over again because easy it's essential. In retirement planning because Phil pointed out you don't want to run out of income. It is essential. That you be willing to detach yourself. From this. End. Note that what's gonna matter in the end of at all is going to be how much income can you generate. And if you. Take a loss this is what we're Beck was talking about sequence of return risk if you take a loss. If the market does correct. Sometime in the near future. And you. Sometime in the near or even distant future have to retire into a declining market regime like you're pulling money out your retirement savings. Here is now a very real possibility that at some point the bucket he's going to be dry. Unless you have a lifeline. Such as I mentioned earlier. In week actually. Adopt and did some time back something that Stanford university's center for the aging is recommended for some time which is. The use of what they call retirement income generators and they say you can go bring it yourself. That when it comes to retirement playing the most important thing economically the number one thing you have to have first and foremost is a way to pay for your essential living expenses. Which are you housing food clothing. Medical care and so forth power bills. To do that you have to have a really retirement income generator which is they'd be fine. As a source of income that is guaranteed to. Not to run out. And there's no market risk attached to it. We would add we had some layers to that that we think we are an improvement on that. Which you also have to have some mechanism to deal with inflation which we think is going to become problematic overtime so. That's just flat common sense if you going to go into retirement make sure you get your basics. Squared away with income. Anything and above and beyond that we do a lot of other things that's not all we do good we make sure that squared away before anything else and that is part of a common since retirement plan. Andy's why. I heartily recommend to quote Scott minor data if you're ever going to harvest your gains. August 2018 be the best time to do it. And we'll help you do it common since retirement planning if you come see this cost you anything. Just do it. He's doing CS RP dot info. Make an appointment come and see this call us at 806876768. Sometimes investors discounts. The risk associated with liquidity risk. In one of the biggest risk factors in a market crash. And I'm referring to an article written by Matthew Johnston dated August the fourteenth. Nassau he did really good job pitting miss in sort of applicable terms to says that alignment can understand what we're what we're really getting at here. He says liquidity is a bit like oxygen. Easily forgotten and taken for granted witness they year. But quickly noticed when it's gone and he's one isn't it wonderful I thought it could not a good good job. Says we appreciate it all the time but we know right away when it's gone. He goes on to say that judging their recent Wall Street commentary investors are charting to notice liquidity again meaning they're noticing the lack. Of it. So I mean let me let that sink in for just a minute. Because you don't notice it until it's gone and now people are starting to notice liquidity Ginn meaning there's a lack of it. The most notable sign coming earlier in the year was volatility spiking the following the market plunge in late January. Although there's been a rebound. But it makes the cell awful like a mere correction. Investors should heated as a warning sign. That liquidity. Is trying. Up. The quitting is trying up amid Federal Reserve monetary tightening and other global central banks becoming less. Accommodative literally literally. Cutting off. Fresh supply of capital and that's according to business insider. So wow what a profound. Statement. And you have to worry about the liquidity on your high yield bond funds that you have. Inside your portfolio which have done well but when interest rates start up this this problem with were having with Turkey. And we start having problems with the emerging markets in the east are having problems with the emerging. The high yield bond funds. How what happens is you may want to sell these bonds and there's nobody for a long time you see. Just imagine the prices going down you see it going down Madge some movie washing you see the price going down. And you say it sail sale but nobody's there to buy. And the end eventually when you say oh you've lost so much that you destroyed. A big portion of your life savings. Those things can happen in the volatile kind of market that we had and there's ways to protect or self against that. Give us a call 180687676. Say Ehrlich a separate CS RP dot info. And save Beckett become a particularly massive problem if you are looking at a marketing strategy where you have buckets set aside that are tied tees. Years that you intend to dip in today's market so if your first year. It is scary it may be governments. Government backed securities in the first two to three years. And then you pitcher Jon Mann's corporate bonds things of that nature in the second bucket and all that goes bust. Well then the third bucket if you have heavy here for a long term growth that it carries more risk associated with in this is a strategy. As some of implement out there would been that long term strategy quickly becomes needed. And immediately to refill the buckets to keep eagle one and keep you Fuller. Aaron across a fascinating piece and in this sort of ties in to. Just. How detrimental. Recessions can be. For the long term. This is a piece from MarketWatch by Mike Murphy. How the recession. May have cost. You 70000. Dollars. In lifetime income. The US economy is still not fully recover from the recession of the decade ago we reported earlier it's certainly on the way by. Because of the recession that took place in 07. And in and threw all night. The average American is going to miss out on about 70000. Dollars a lifetime income. It's according to the Federal Reserve. One possible reason for this is the large losses and the economy's productive capacity which followed the financial crisis in those losses. Suggests that the level. Of output is unlikely to revert to its pre crisis trim level. So. And the effects of the financial markets on the economy. Our ace symmetrical this is what we were talking about the beginning of the show the difference between what the stock market's doing. In what the overall economy are doing Mary cement or another words. A financial shock will slow down economic growth in good times but in this is a key point in bad times. Even favorable conditions will not necessarily. Stimulate. Economic activity so. The recession. Lowered output so much about 7%. Deeper than in normal recession would. So that now according to the Fed the average American will take a 70000. Dollar hit to their income over the course of a lifetime. So the point here is the financial market disruptions can have a tremendously. Large cost in terms of societal welfare. Because. They cause persistent losses in the level. Of GDP which in turn affects the level of your income. Why does that matter. Because retirement planning. Easy long term thing you're planning for it twenty possibly thirty. Years or longer. That whatever you have managed to save it to the point where you actually. Become unemployed which is what your gonna me. Once you reach that point in you start taking income you're now if you well if you don't have a solid rock solid retirement plan and you were vulnerable. To the vagaries. Avoid this happening in the larger economy and even more so in the markets if you were in your typical. Investment. Plant which was just might be great when you're thirty and forty years old and you can take risk that he is not great if you're taken income. It is essential to use to have eight planned. Eight common sense. Retirement plan. And that is why I urge you to come and visit us where we will create just such a thing for you and in give you some tools with which you have an opportunity to. Attentive to leave the kind of of retirement life you really have dreamed of living. So go to our web site which is CS RP dot info. Or call us at 806876768. And current C yes. At a USA today. Wednesday August the fifteenth has Wall Street keeping a close around Turkey. Country's crisis having little effect on the US is just as the bull market is set to become the longest in history US investors are confronted with another crisis. From a far corner of the world what's giving Wall Street the jitters this time is Turkey plunging currency which is down about 40%. This year against the dollar. And goes on sake. From local to global crisis could Turkey's currency crisis grow more damaging for Americans be ending 41 K counts and he railing the broad US market. And a lot of people say it. It really does have that potential because we're in the type of a market that is gonna take an. Maybe somebody vamp like they just may be a seeming Somali man in a far more of the world the sparked. And Indy rail this market but I was thinking about this article says that Turkey crisis. Well Tony in and Rebecca really believe this is kind of a Turkey market. He say since 2008. Everything's gone along pretty good for about teen years and remember we said that the about thirteen million financial advisors started after the last so they never even seen a bear market can you imagine a Turkey. His whole life his me and he's a free range Turkey his whole life his band that this nice little farmer. Comes out every day and feeds AM you know it's just been a wonderful life and he thinks that's. Everything till one day that same farmer comes out and slaughter hands. Okay a lot of times if you don't have experience. Or if you forgot what happened in 2001 or 2008. You're gonna end up. Getting slaughtered. Thinking that it's never gonna happen again say we know that some evening at like Turkey. Or some event like GO some geopolitical event or economic demand. Could turn this market around and right now this market is overvalued by anybody's standards. More than in 2008 more than in 1990 NAND really. The same as 1929. If you wanna know how to avoid that. Moment of realization. Where you get slaughtered. You need to look at the ways to be safe with your money if the market goes up from here we're gonna participate in that. But we're not warning to participate or goal is not to participate in your life savings in the next 2008 tire pressure. Or Turkey slaughter. Give us a call 180687676. Say. 180687676. Say. Look us up at CS RP dot in. This piece I have found it to be very interesting and sort of random. I thought when I found it it's from the guardian. And it was printed a couple of days it gambling on that the thirteenth or fourteenth of August. But it's an article that includes aides talking about slaughter dating clients trains Scripps released as a part of a settlement with US prosecutors. That is surrounding the US housing crash. So basically the Department of Justice. Criticized RBS ivory trade in resumed residential mortgage backed securities. As your financial instruments under written back risky. All homes. That are cited as pivotal in the global banking crash. It's said that the bank made false and misleading representations. To investors in order to sell more. R&B. Yes. The transcript for publish a major cement their comments that senior bankers at RBS. Made about some of the products they sold. The bank's chief credit officer in the US refer to selling investors product backed by title. Garbage Holmes was for all that was so rampant and random the loans were all the skies to you know and look okay. Kind of in a battle fought in the data filed. The G city DNA JC is RBS executives show little regard for their misconduct in internally. Maid lied at. I'm sure your parents never imagined they'd raise a son who would destroy the housing market in the richest nation in the planet. It goes on to say I take exception to the word destroy. More comfortable with severely. Damaged. And only live I never trusted any organization his last two later your BS anyway. KNE king entered. And bragged about raking in the money and Celanese these flimsy loans it's incredible. I I want to we close seemed and I want to share this I'm. I was a big fan of what happened I remember Ronald Reagan's miracle when what how he pulled our economy together and there are a lot of similarities between. His world view and Donald Trump's so this is a piece from David Stockman or some quotes from him. He says that he greet a great resent is approaching in the world economy this is actually a piece by Adam candor from zero hedge. And it says the global economy this is what stockman said as. Is warning that the global economies reached an ethical pinpoint a moment when the faults prosperity created from. Trillions in print money by the world's Central Bank is lurching violently into reverse. There are few people alive who understand the global economy in this mismanagement better than David Stockman having been the head of the Office of Management and Budget for two bronze Reagan and stockman. Thinks the top for the current asset price bubble era is specifically. Over hit its apex in January of this year. And the everything bubble is now preparing to burst. Stockman estimates the risk of economic crisis. Is is great if not greater than 2008. Because this monetary policy weaved its past. And this is caused prices of stocks bonds and everything else to become enormously overvalued his warning is it there's no. Reason. To be part of the implosion it is our our warning do you. The exercise. Some caution in particular recent common sense. And locked in quote Scott miner who again today August 2018 is the time to harvest your games. And create a retirement plan. Don't do it alone you would try to do surgery on yourself if you had a medical problem you go to and professional and expert. That's what we do it's who we are we the upstage or regional. Retirement planners. So come CX. Go to our website CS RP dot info let us fashion eight. Retirement plan for you to what helped you have some peace and minding your retirement 1806876768. God bless you will see in the bar at.