Financial Safari, 11/12

The Financial Safari
Sunday, November 12th

The Financial Safari, for November 12.

00:39:13

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

Information provided this for it was for purposes only and does not constitute investment tax or legal advice information has been obtained from sources that are deemed to be rely. What Barack receive incomplete this cannot be guaranteed either Peter. Including usage of information discussed always consult with a qualified investment legal or tax professional before taking any action. This is coach Pete and if you've got questions on how to properly structured your assets until retirement income. You're in the right place and welcome to the financial safari. My dictionary you'd like Jack WW. Will you seek my interest there you read also did you rip off that he's performing als like all my guys are okay we gotta talk about. That's well taxes are here and an on going away. That's right and so it's important when we get to leave before we get to retirement on the way to retirement on the way to even the financial red zone which is five years out of retirement. We need to work with our planner and our CPA and hopefully your plan or CPA talk to each other. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- We have the capital gains tax we have the net a vessel ever investments are we pay tax on the money won't take money out right attacks on that we have the alternate minimum tax which means. If you don't pay enough taxes you table. Created names for but jobs are gonna stick you if you make more money and that money is gaining money and you start taking money out of retirement and make your income would bigger guess what you're gonna have to do. Yeah I know cortex is exactly exactly what this could be a tragedy for folks out there who may think they have a certain amount saved up that taken taxes and consideration yeah well it really doesn't that we have ordinary income tax noticed over the when you do that such an idea that takes effect we have Social Security tax. And then we have the means tested on Social Security so if you make too much of retirement if you were Smart during your working years rank and saved money like you should into 401K your IRAs are on your own choice. In retirement when you start taking it out the government says say you're making too much not gonna getting your Social Security that they we Ortiz tax you on suits like it's Texas all over the place I. I'll replace little western movie cast votes. So we have to try to avoid that. And there are ways to avoid these taxes by getting your money properly set up used utilizing section 7702. In the IRS codes that fact and it's waited to build tax free growth tax free income. And also pass on a huge amount of money to your family tax free if you pass a way too early while there's there are wasted to maintain your income stand when we get to retirement. And we need defector and also something called longevity. And many people don't realize what longevity is none so we'll talk about that too but if you if you're interested in finding out what kind of tax that you're gonna take and ways to avoid that tax hit or minimize it. Give us a call right now. The number reached still Capriati a senior tax and insurance advisors is 800. 8511636. And has 800. 851. 1636. You know 2008 study so it's been awhile ago now but this but they did that a reiterated study here in 2016. And in our 2017 and nothing has changed. But Ernest and young did a study and they surveyed people reaching retirement and three out of five of today's retirees will outlive. Their retirement savings really isn't real five. And so if you don't have a lifetime income plan by the way and let true lifetime income what do you think it does. I hated it so income for a lot of life I think it's reasonable play and it's simpler step but so many people just keep your money stocks bonds mutual funds forward case yes and don't. Transition that money we call that income transition get your money into place. We never have to worry about living it down on all your money. But you find out what kind of income you wanna have a retirement and we work backwards they will based on what you want to have income wise for the rest your life. Here's the amount you need to put aside OK and we recommend maybe you put into place the F tax free growth and tax free income or combination. The sport different buckets out there and money world aren't this taxable buckets that's money you're with your paycheck you earn money to pay tax on. Yeah money to CD earned money to pay tax on the right that we have tax deferred. And that's when you don't pay taxes on the money right away matter factor reduces your incumbents like a 41 K your entire race not referring to the taxes to later right re right about what outlets a bad word in tax deferred. Taxes are still and say well does this do that words. Taxes are deferred abstract deferred major kicking it down the road you won the coin toss which are electing to receive in the second half and I can be dangerous if taxes are lower now than it could be in the future yeah you're right and and in my opinion is that we ever seen a period where taxes really go down to sustain that I know they easily go up right at the so want to pay taxes on what we know today. So again we have a tax will bucket we have a tax deferred bucket and that we have tax free bucket now tax free is good to me. The trend that's like the raw Feyerick. Okay all right so the rocky paychecks right away you paychecks when you when you make the money that you put in a bucket Nellie gross tax free which means you never pay tax on the money. Again in the future no matter what it grows to offend as long as you follow the rules set forth by the government while but today. That we have that's the thrift but coach that you said there were four it's welded here's the fourth one tax free times to. Or you picture it written down tax free move to about the you know like the sunscreen iasis peak my interest retirements to Sony what are you talking about yeah right so that is having the tax free growth tax free income but turning dimes and dollars its life insurer on life insurance is one of the greatest wealth transfer tool known to man put overlooked because it's sold too much to people who don't need to Gordon really realize that but I've never seen an insurance they should not be welcome to a few robot. You don't wanna say it's so noble we know we have the right plan in place tax returns to this way to get a tax free income there's a way to get tax free estate plan. And it's also way we're if you need long term care have tax free long term care payments coming out of your death benefit while you're still alive but simply amazing to me it's included in section 770. To the iris code too by the way. I'll able and it sounds like there's a lot more going on there than a typical life insurance plan that people may be familiar with Regis had that death benefit all right the number to reach Phil capriati's who has coached peace local trusted coach in the Austin area is 80851. 1636. Again that's 800. 8511636. It comes just too much Amazon dot coming up the retirement worlds in there I just will buy one product over here one over there but they don't work together a strike hitting go to Amazon probably save money in the short term. But when it's time to get help on what you bought -- breaks it's a pain in the -- exactly know getting the perfect plan put together is like the perfect pizza with all the ingredients that work together and I love the pizza with everything on the I don't like paying for the library each ingredient on the pizza though altogether see you working on a plan where it all works together okay and I think that everyone out there now that you're hungry for pizza like I am. We need to sit there and take a step back though and I wanna make an offer out to the radio listener in this live very popular offer gonna had a couple new things to it is well okay we're gonna also talk about later on the show about the retirement bill of rights that's going to be added to this as well find out what your true rights are. Make sure you have the proper plan put together. But if you Coulter one of the next thirty callers. We will put together for you every view of your tax returns. And this won't cover long term tax issues like diaries. Capital gains and Social Security taxes keep in mind we will go back three years when your tax return to see if you've been making mistakes. And in maybe you can get your money back by amending those returns a pact that can make. Thousands of dollars of difference if you're overpaying and I don't know I think about not going back just three years but what about going forward the next fifteen. And correcting that mistake nettles you don't pay over and over again for something you should be thing that's very. We're also gonna help you. By establishing your retirement income goal finding out what you really need a retard what you really want retirement that'll give you not only retirement that you have the bills paid. But retirement we do what you want when you want to do it. Very important to talk about what than the average person and I've been talking to he's been saying about what they want to retirement later on the show but Thomas is also important we're gonna help you identify the money needed to cover the cost of enjoying your lifestyle that's that's very important not just the bills but enjoy your life says sorry that's right and I'm gonna help you by analyzing the current investments to establish the real cost and fees and calculated risk exposure level we call this a forensic three. Analysis and I can guarantee you most people have never had that put together along with a tactical tech's win. It's a retirement may be easy is what we call it. And embeds also retirement pit stop to make sure your money isn't the right place astray you know when he wants the NASCAR race right before the end of the race a lot of guys went for the pin to get all fueled up to date and end the race strong yeah let's do retirement pit stop let's make sure the year old fueled up in your raid hit retirement we never gonna have to worry about adding happening no one wants to be the person with the red gas can walking down the road outside the road to retirement right now and our money. We're also gonna help you by determining the percentage of assets needed to protect future income needs and that considers taxes and inflation. No loss to be hit by surprise is it in retirement so let's let's make sure to get all the exposed and then eliminate them. And that will review your family goals and longevity estate planning issues and determine the needs to protect your stuff as you go through retirement and make sure you leave your money in the right way to your next of kin. All of this as well as my brand new report the retirement bill writes organs about the later on the show and my book the seven baby steps the next thirty callers. I suppose if you wanna take advantage 1800. 8511636. Again that's 808511636. We come back we're gonna describe your retirement bill of rights and how important it is to do that he's always right. Here is when you need a top 37 feet. Right so I. The coach everybody wants more income in retirement on they tell who doesn't everybody wants more income. You can't expect that as an answer you know if there was a way just by making sure that you were in the right place you can increase your income would you want to know about always the course if you say no turn the channel. That's right they wanted to talk about Oregon folks you don't video that if you don't interest Syria now it's it's it's all joking aside there are ways the Wall Street modeling that affected maybe more than 50% now income that could be coming to you and streams of retirement income to your mailbox with the green flag up. Every single month for the rest your life just by re allocating. Your money to the proper places as we get close. To retirement we both the income transition. From income coming from your paycheck. Income coming from your accounts. And if you don't set it up correctly not only could he could you be in jeopardy of not getting 50% more income through retirement you might run out of money. In retirement 60% of people are on the trek right now is running out of money in retirement. I don't know how much fun return it would be the first fifteen years if I knew wells gonna run out of money and eight to surrender researchers say that yeah I mean it's like they go down to train track that has then you could see the end of the trek. I just wait regardless should be any distracting you never warned about the strength and so you don't wanna just disappear off the track like and that was struck the movie so we need to start by first doing asset allocation models and these are again I'm can start talking scientific agreed to a lot of people but let me tell you what asset allocation really means a by the way I write a new book. Called funny money out and what should put to death which drug they. We're gonna try to make humor out of all these topics in the financial world in the way you can understand it because humor is a way for people understand that I loved to watch comedians into work a lot from to me that's right it because you don't feel like you have to learn exactly it satisfies the fight what I support as an approachable and that's writes a funny funny book it will be the website when we come out that's not gonna be out until later on this year but very well let's let's talk about asset allocation Shelley are analysts that what's your opinion of asset allocation Thomas and your radio guy firstly what are you have you what's your what's your understanding of what asset allocation is is no wrong answer. Yes sure knows us I think about that I think of basically taking whatever I had a Ed you know in front any weather has basic talents cash whether it's whatever and making sure words those assets are put in the best was possible for me in my future. Yeah and basically by doing that you don't have all your eggs in one basket right refer that before yeah yeah and so by the way. That's gonna transition right into the useless fact of the week which I just stumbled across some oil which I didn't even knows what to do little girl's gonna have such a great segue to get ready for the most useless fact of the lead hassles that are right in 1999. More than 3000 people were hospitalized after tripping over a laundry basket. That a laundry every L and over one in early may be it's in the middle of the night to get on the floor select photos to show over 3000 people at the hospitals and people like now. I have to be really hurt to attend to swallow my pride enough to go the hospital have to tell the doctor I tripped over that is exactly what else he tells me not how many people tripped over about how many people went to the hospital. Well this event like that put Obama forehead or whatever that I had a good conduit you so bad so speaking of baskets are they so you don't want all your eggs in one basket that is not good financial planning so asset allocation is making sure you don't have all your eggs in one basket yeah I absolutely picture colors because we like to thicken cope with these days let's were colorblind but we still wish we could take a dollar short yeah the color blind you're driving it better be paying attention that stoplight. The top latest read right there again contributes to the topless lit up stop with your color blind. But asset allocation goes from from from green to rent a text all right dream being safe money red meaning risky money there's no bad answer and in the middle jello. A caution or three times much the green means go aren't yellow means caution and red means well risky does need let me stop it just means you have brisk and if you have all your money at red maybe this time to stop and reallocate and accent so asset allocation is a term that I hear thrown around a lot where I think people just try to sell Smart yes I don't really. Tell you what they're thinking yeah yeah so there is eight different blocks in the asset allocation model that we go over with our with our cause look at and a radio listener of your listening right now you wanna see your own asset allocation model. Because. Many people realize where the money list yeah I agree with Utica when I was one of three Brothers grownup men ate and fined six were that was that was the worst year I think we got trouble more than ever went out of that the mother brother Bob was eight and Jeff was six. But moment that you know will we worked sure we were all run around some of the phone would ring and somebody would be telling my for my parents that my Brothers and I were doing something wrong I have my doubts and no they not there in the backyard and looked out the backyard we were there Oda. I also know if we had trouble we used to throw pike whip I don't fights back in the day did you meltdown North Carolina called Laura bird Johnson was nothing else to do but. Think Michael would throw that somebody had to fight broke out blind and you were the oldest so of course hammer had to come out ahead they'll always get played so. It's Jillian know where your money is it's hard to make sure that it's doing the right thing misbehaving or if it's in the right place this right so when people come in what we do this first well we we mapped out your SNL location model Katarina red showing you where your money is right now OK and then we look at the rule of 100 that goes right along with the asset allocation model the investment rule of a hundred Sosa -- takes your hundred minus your age is percent he should have that risk. Getting so if you're 35 years old hundred minus 35 to 65% of your money could be at risk which is a red accounts while a tennis for different options for red accounts look at extreme risk to medium risk. Okay it would go from mud. From bonds stood toe real estate investment trust which I think of the extreme risks side because. You are putting money many times in a -- stated adventure which is non liquid in other words decision put your money the air you can't touch anymore and it may never go back to where you were was to put the money and attention could lose money there yeah all we down the checking savings in money market accounts on the green side things everybody did so we look at the asset allocation we figure out where you are right now and then we help you map out where you should be based on where you're you're life is right now and what you need in the future OK there's no right answer does no wrong answer because everybody is different. Yet when it sounds like a very healthy way to approach beginning to set yourself up for success in retirement is all right and a battery still capriati's who has coached peace local trusted coach in the Austin area is 80851. 1636. Again as 800. 85116. 36. So you were saying how we have checking and savings on one side of the spectrum and then you have the rather than I silly dangerous but of the Maurer I just risky investments on the other. We have to be our own boss were good we were funding our own retirement we have our own paychecks coming. And the reason behind this noticing this just because as we head into retirement since we aren't innocent juggle work anymore you wanna make sure that your money is not as far risks he can't. Loses easily well it's great to say you have a million dollar retirement let's say. And it's all in the market the market goes the wrong way also and a million dollar retirement is 600000 exactly 20082000. Yeah yeah we we we've already spent that money in our head that the million dollar level that we have to retire at 600000 or work a lot longer to try. To make up where we left off and we've been teased in the past with the market's gone down let's come right back up chore anyone. Who studies the market history knows that many times it doesn't come right back up like data may come back up in twenty years I have twenty years to wait for recover except nobody knows and so that the magic is to have your own income plants built so that when retirement comes you'd least have income coming in each month that's called for in you can keep him some money at risk because you already know you have income. For retirement and that's where people get off track and so wanna make sure that people get the right plan in place absolutely and again it goes into the is the retirement bill of rights that we have put aside for everybody. And it blends right then with the total retirement plan that we do for every once the current new look at where you are right now which are going to need to and through retirement. Make sure you have plenty of income make sure your money also has horsepower potential where you can get a great return for market goes up but your money won't be ripped out from view from your retirement pockets. If you. Haven't properly allocated a pack gas and so first we need to review your tax returns and that's that's important too because we could potentially uncover. Long term tax issues in higher raise capital gains and Social Security taxes that could be eliminated to minimize which puts more money in your pocket. Next we're gonna help you by establishing a lifetime retirement income goal. That's money needed to cover the cost of enjoying your lifestyle all the way through retirement account not just living in retirement but having a great lifestyle in retirement. Then we'll analyze your current investments this is important using acid allocation model. And establish the real cost and fees and the calculated risk exposure level. Keep in mind if you could lose a lot you need to know about it before it happens and if you're fine but that's that's okay choice and if you're not that we need to make sure to make the changes necessary to get you in the right place at 2113 had things happen when people come in by the way there's no cost or obligation. It's about a 900 dollar value when people come in. But will either tell you everything's fine stay we York. Will make a few minor adjustments and Indians and you want to wait comfortably. Or will totally redesigned or designed something for you that makes sense for you and this'll be the Tommy like we really do feel like someone has given that custom made suit. Especially by something off the record to custom made the measurements and we designed it and we and use it fits you like a glove the apparently that's right okay and that we need to determine the percentage of assets needed to protect your future income needs two things do get more expensive to do and we consider taxes and inflation this is a total retirement plan this isn't just some financial plan even a lot of advisors are charging you. 15100 or 2500 dollars just to do before they ever make any recommendations they charge you money which is ridiculous it is this is no cost or obligation to all of our radio listeners. Are suppose if you wanna take advantage 1800. 8511636. Again that's 808511636. The Thomas you've truly understand your net rate of return and that's after fees and costs on your 401K here are the retirement plans if not gonna quit in the right direction to understand fully. We come back. We believe in better. A better way to invest. A better way to serve you. And a better result we can help you determine how much risk you're taking red flags that could be potential problems for your publisher paying in fees or commissions. Potential tax liability for even how to address Social Security. Cult built Caffrey got an 808511636. And again that's 800. 851 to 1630. So. There's a coach you mentioned something heading out of our last segment they're called net rate of return actually have heard this term before and I wasn't sure if you'd mind just maybe health and in nonetheless result they're out there. Did do you ever take a class where you had to read a book about a guy named Don Quijote. Hi yes you know I have yes idea famously when an old guy if anybody was Jason real thing right this is coupled with the Portuguese guy he was going all over the place Jason Windmills revenues Concord on us or hate them up. But you know that's what happens a lot of times is we are looking at one thing or chasing something around that we were looking for the better returns many times a week with the advertised returns or were asking our our neighbor or cubicle mate or someone in the office right next door what kind of allocation model where should. Where should we put our money in our 401K plan Ryan right and that's. That's really not financial planning but at least you're saving money but when you take money now when money starts coming out is when the real bombs started in your retirement plan. And we call tax time bombs and they explode like crazy all over your retirement plans. And people say will is there a way. That we could build no retirement bunkers so to speak right there when you're in the army in your body to build a bunker you're safer in a bunker usually you fortified you you stack it with cement blocks and sandbags and what anything can find dig a hole did Darren and get nestled in and you're comfortable because you feel safe restraint well. Health safety feel about your retirement plans on not just the risk level this people who are exposed themselves to but the tax level and I don't you Texas a risk benefit. Because if you have less money when you take money out is it doesn't matter what they call it it's less money in your pocket exactly and it's so there are ways to do something we call our higher rate arbitrage a tent where you take money out pay taxes and get in a place where bill's tax free for the rest your life allows you to utilizing iris code 7702. To make sure that it works in order to keep you out of trouble. But that's important as an addiction to pay less taxes. It absolutely isn't you know something you talk about a lot coaches just taking that worry out of retirement because folks don't need to be wearing about you know they need to enjoy their retirement and the sounds like one of those techniques that can do just that. And this can also be its although not what you have is a balance is what you get to could take home and spend right and so therefore this also for anyone out there who has an annuity we we have we utilized annuities and planning strategies but but many times people just bought the newly from a from a salesperson. Who didn't really understand into and so the main thing avenue it's the growth is pretty good right -- duties have lifetime and let me get a live and LT double that income for long term care but you need to find the right fit for you -- but will we get to the point will we want to take money out of an annuity there are some strategies that can maximize your your your ability to take money out and you could get. More money out of your ability while sometimes a gigantic difference Thomas and we cancel the call week we call annuity pension maxim is nation OK and so when you start taking it a payout option from some of the annuities they dig off be the choice to have a maximum out per year for the rest your life short or you can take a reduced amount. To make sure that your spouse also gets that reduced about you pass away too soon while it's incredible but that reduced to melt can reduce your pension by 50% sometime OK so would it be great to get a 100% of the pay out. And make sure your spouse also gets a hundred Gasol now as possible it is absolutely possible but not from the guy who sold it many times does he just sold you didn't win into the sunset. OK so yeah annuity pension mechanization if you have an annuity before you ever start taking money out or the right way to take the money out. And then we look at the stock market or look at money people have been their 401K. And then they say one that keep an at risk and an I'm retiring now. What kind of been Duncan again. Well there's no guarantees to any money in the stock market that you have a lifetime income right they can tell you well we can give this amount of money for a couple years but the market goes the wrong way you're template to go whether that's why there's no surety Alicia have a lifetime income planned and you know when the when Wall Street says you could take 4% of your money out per year and again have a 91% chance now that living your money. Well 4% is is that's been arguing that this probably 3%. But if you do get a 6% payout from an annuity. And you looking at a three or 4% from a market account and no guarantees for the newly we guarantee you'll lifetime of income which one makes sense policies of Iberia voice again not all X of one basket asset allocation to make sure you understand all the choices available to you that's where I've run into a lot of times is people just aren't getting the whole story that's right Paul Harvey made a living talking about what. The rest of the story eggs and of course most people forgot there's another part of the story yet and yet you know Brian Williams was with him to that. I'll have to play you know something that's very interest inclusion you're talking about the importance of not only EE no way whether it's an annuity you're a life insurance plan or anything like that eager talking about imports of needing to make sure that a setup properly and things like that we talked about that too in terms of Social Security held as a security administration's office doesn't really did you and they're not allowed to give you advice that's Wentz is important to meet with someone because they are just like Indian duty world there's a lot of potential benefit depending on if you set yourself up for success from the beginning. On the financial world total financial world there's just so much stuff out there that is that true or half truths or after X fine print. Hey Jamal yeah you know one of the things we talked about is how to protect your assets from another market downturn and receive steady interest and income. For the rest your life defense belt how important is that or how important should that be. Our sounds very young very important because I knew we are talking about risking the potentials for a they're slowly. Yes and most people just don't understand the risk in and how to measure it and and how much risk they're really taking so let's help you. Mention that risk let's get to the right way in a place in matter effect Thomas I've really am passionate about this that I want to make sure that people do understand where they are financially strong Q1 of the next fifty callers here towards the other show that's right fifty callers not caller ten to twenty year. Eighty through 400 no the next fifty callers. We're gonna custom designed fuel and easy to understand funny its review. In this review we'll help you indicate yourself and your family if you're in need of a full blown financial planner or not and if you are we can help you would that is well. They keep in mind there's no obligation or cost. For the next fifty callers first you're gonna help you the support. And help about running a free report now a free report helps you untangle. What is causing few work with the current planner or advisor or doing it yourself. We'll also show you how you can protect your investment. They keep in mind if you protect your investments. You keep more of your money in your accounts vitally important an inside this we do something called a super benchmark protector making sure that. Your investments are performing but the benchmarks are. Or up to that level or get you in the right place to do that. Next will perform a tax analysis weak holiday tackle tax plan now this we'll show you how you could possibly reduce your taxes and folks. This is important here to should beta you if you reduce your taxes Thomas answer is forming if you reduce your taxes you increase your blank -- just write your thankful cash flow patterns get more money to do list Uncle Sam legally Oleg anyway trouble at Atlantis and which also go back three years to identify if you're overpaying and if we identify something we'll help you 51015. Years in the future because you won't make the same mistake over and over again. And finally. They're very important folks were gonna help you by creating a customized that means done for you measure to what you need. And what you want they customize the lifetime income plan using proven strategies and time tested techniques. That could Turbo charger retirement income. In short we'll help you take the guesswork out of the financial planning process for you. And give you that peace of mind that you deserve as you get close to retirement or in retirement you'll never have to worry about what's going on in your financial plan. Folks all this available to you if you're one of the next fifty callers tonight I've looked forward to meeting with you and encourage you to get the right play and at least get informed and don't be one of those 60% of Americans who may run out of money in retirement it's possible to prevent that we're here to help. You know the first step really is to sit down with the financial coach is something that we're talking about on the show it's a resonates with you and you feel the need to just get that second opinion or if you wanna make sure your plan really is aligned with your goals and that very important risk tolerance that we talked about just colon. And you can meet with Phil capriati's who has coached Pete's local trusted financial coach in the Austin area and his team. All translate for you that complex financial world and to very clear instructions to take advantage of this true. Practical retire her review all you have to do was call sent 800. 8511636. And you will receive comprehensive retirement review the show you where you are now. But much more importantly a roadmap to do you where you need to be. That number once again is 800. 8511636. Again that's 808511636. Are you folks State Street as we discussed many more topics on how to set yourself up for success and retirement when we come back. Solo pretty. Us Dana. I. Only Brando was an American actor and director and activist he is credited with bringing realism to film acting. Brando was widely known for his Academy Award winning performances in on the waterfront and the god father. As well as his performances in A Streetcar Named Desire and Apocalypse Now. Brenda was also an activist in many causes notably this civil rights movement. Seriously native American movements Brando was one of only three professional actors along with Charlie Chaplin and Maryland and relative. Mean didn't 1999. By Thai. NBC as one of its 100 most important people of this century. He died of respiratory failure. On July 1 2004. At age eighty. Brando had a long term relationship with his housekeeper. Whom he had three children. His housekeeper sent her boss told her that she could have a house. In the San Fernando. But the alleged promise was oral. And unfortunately. You needed in writing in probate court. This is just another reason why it's vitally important to meet with the truth financial coach. Listens to your goals for retirement and legacy planning. Who can implement a total retirement income plan taking into account. Necessary details. This is your favorite shows keep up with the latest breaking news anymore anytime at top thirteen 78 dot com sock thirteen seventy. Right choice. All right and we are back into the financial safari now coach on our last segment you talk tell we'll be discussing the volatility speculation now these are some terms that are making me a little bit nervous obviously things that we wanna be a part of our retirement planning a. No we are talking about earlier about how people or making a lot of money but it doesn't feel like it and when you finally get the money home they you have available for youths not much there that's called living paycheck to paycheck and we don't wanna be in a position and if we are we need to the only way to change it is to change yeah it's not a single someday I'm gonna do this through the next year and that you that this is the time of the year. Where it is a good time to say I'm gonna hit this year running have been a change some things. Yes just one of those decisions you have to making nice to procrastinate you mention it a few shows that the easy Easter was well in college is just one of those suffering you have to make that decision say I'm going to do this for the health of myself and those little author. We're talking about trying to you just a waste of lives this is living. I think they are building retirement we're gonna talk about retirement amended in ways we need to have our income and our money structured in retirement or when we get to the financial red zone which is five or ten years away from retirement or in retirement account just to make sure we are in the right place because. Once you reach retirement there is no paycheck coming unless you put money aside for yourself a strike we're Social Security easier too that's a small paycheck but you can't live on Social Security exactly I mean he can't live the same lifestyle even living now. Based on what you are going to get Social Security wise and I'm glad we get it. But and we don't know who make a play and we try to make a plan that works without Social Security included just in case things change in the future exactly an original idea. Knows very true a lot of folks out there may be thinking this Social Security will cover everything but you know and just looking at the amount of people get a lot of times it's I mean there's hardly enough to cover mortgage many times if you still had one. Failing to see the forest for the trees we've heard that saying before right right and it is people making poor financial decisions without looking at the entire picture in other words okay and many six figure income households wither by too much home. Or too many homes are Todd Andrea or too pricey and automobile or too many automobiles. Without considering the ramifications for each item OK I go to privates who put the kids in private school vs public school. And that may or may not make sense what we need to look at the good bad and the ugly to try to do eight like Ben Franklin when he used to make decisions he take it yellow pad out pilot and have yellow pads and take a piece of paper and his brother Ken are you put a line right down the middle. No one side he by good and the other side bat and for every decision he was making he'd like the good on one side and good things that decision in another side the bat are really into you really look at all the Ben Franklin country and so that's how you make decisions if there's a lot more good than bad well maybe it is a good makes sense and a lot more bad than good well. It's glacial IndyCar wanted that right we will you know do the more expensive the car the house is another thing the more the taxes are gonna play and the more insurance and so it's not just the cost of the house of the car. It's all the things that come every single year lead Iran. Exactly and right so we have to be careful and less affected you make yourself more retarded when your fancy car up there for someone to maybe volume won't. Yeah absolutely different dole and I think even beyond that is going back to that point of decision making you know do I even need this car at this pointers as just a wide and if I have this or let's look at this what if I were to get this car I can do this or retirement if I didn't get this car I could do this and retired rights and yes a very important it. Let's say it's Ben Franklin yeah the energy of the barbour's the disadvantage is now allegedly bring got like a nice car. But I buy my cars after the men out about a year someone buys that someone else buys it takes a big hit. Thomas that's a sound that your car makes when you pull it off the lot and butter brand it. Literate but it effects it's that you like that 203040%. Of the value goes away just like that the bone completely. And so why what I do strategically by a new car which is still pretty new after about a year short what else is taken a hit on that okay and now you have a better value of the car and you made a better decision and you've got more money newpark join your pretty much driving new cars well well. We think about it. I mean once you get it it's gonna get the digging to get a part of somebody or gonna park in the middle of nowhere in a parking lot trying to write on this is a detriment they folks go until parking lot pork in the middle of nowhere and I guarantee when you come back out to be two or three cars a run your car -- David I know you're in the middle nowhere slid out until that happens to delay farther down a little you know dug in Israel and so that happens and you have the dings and now it's not a new car anymore on that new car smell I love that new car smell which could invent the spray do you spray in the car every day and have a new cars while the body multimillionaire isn't married so we just have to be careful on that it's making the right decision ya mean I really agree with people rewarding themselves for some of the great decisions they made their life absolutely not going overboard. And not getting in the trouble with the tail starts wagging the dog we call me and so you know we if you look at the and Fisher guilty of this too by the way now they have no control over this but if you ever had a fish tank whose deficient I don't I when you do get one if you ever do yeah I had one new after you've had when you realized don't want when he works in between that there are mistaken on that again but we had a little goldfish growing up in a very small tank I think of one at state fair or too little ping pong ball I. I enjoy doing yeah political fish and the goldfish was they got big too big for that that little bowl so we got a new mole right you didn't want him to feel cramped and and after the new post is about two times bigger the gophers got about two times bigger they adjust to the sides of the ball and that's just what happens to us whether spending we just the income we're making them take about a week took him. After a group like U2 more bowls worth and put them back in the original bully would be to that Ali be terribly now so it's a lot easier to spend money going out there it is to conserve money going down so the secret that is just not to overspend to begin with okay that makes it's on a. So that it is all right the number to reach still capriati's who has coached peace local trusted coach in the Austin area is 800. 8511636. Again that's 8085116. 36. Thomas we come back to wanna talk about the three eyes of the best thing and risk we'll go over that and a lot more. We come right back after the. Yes currency here. Permission on this for the strength of purposes only and does not constitute investment tax relief in the price information obtained from sources that are deemed to be reliable when I. Peter Jay root forest gas line for the usage of information discussed always consult a qualified defense. What guarantees can easily. Financial strength and claims paying ability for companies and individuals should thoroughly review the contract specific details of the confidence of withdrawals from. Deferred annuities are still. There.
READ MOREREAD LESS