Financial Planning Is Like Planning A Road Trip

Financial Symphony
Saturday, September 16th

Answers to listener questions and how to plan your finances.


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

No financial Simpson. Harmonious financial plan. And getting your portfolio in June so sit back slowly strike up the the financial simple it's starts now. Thanks for joining us this week on the financial symphony Walters drove here alongside Richard future rarely investment advisor at Carolina retirement resources serving you in the Charlotte metro area with offices in hunters hill and in Rock Hill as well. Richard thanks for being here this week carried on certain number of group walker are doing very glad to hear that I am well I'm looking forward. To our conversation today we kick off the show by answering some of your questions you listen to show today. You wanna have thought your questions answered about the financial world for to delve into some of the popular ones we've gotten. Over the past couple of weeks also will compare financial planning in retirement to. Preparing for a road trip and there should be a fun comparison. On today show who does like talking about road trips so we'll dive and all of that coming up on the program in just a few moments. If you are reach out to Richard and talked directly about your financial plan at any point in time. You can call 800. 6465996. Again that's 806465996. Our analyst against the request line here and get a great question from Robert in Charlotte Robert says what's your opinion of investing in foreign currencies Richard. The currency market is a notoriously ball col Robert. And despite all the TV ads claim and have software that can generate profits even the largest financial institutions that have the best software over every one. They can aren't treating currencies so the currency market. It's the largest most liquid market in the world. Got an average daily volume in excess of four trillion dollars. But again you need to be aware. Of all the different risk that set it apart from traditional equities and bond markets. But listen if you choose to invest in foreign currencies. You know you want to look at strategies that they implement risk management techniques. This where you help to mitigate your risk and hopefully a crew via a long term potential returns. And it's important to keep ample capital on hand this way you avoid any risk and from the use of leverage when treating directly in the foreign exchange views. Generally I think you're better off diversifying and in different asset classes overall. And since most of you are used to invest in and equities and bonds you know adding currencies to the mix sure that would diversify your portfolio a little bit more. In addition to nab some central banks around the world or hold in real interest rates negative. And you know some of homer printed in large quantities of money. So the currencies in developed nations such as United States Europe and Japan. I'm may not be as safe store of value over time your best bet in my opinion would be considered ETF for an exchange traded fund. To invest in foreign currencies these funds will purchase and manage a portfolio of currencies on your behalf. And the benefit to you is a you don't have to implement leverage related type risk. And the purchase itself can usually be done through traditional advisor rather than a foreign exchange broker you know. You might want to look at current she shares. Or wisdom tree or pro share version they have ETS designed to help people. Under educated in that market to invest in currencies so if you're retired Robert. You know make sure that invest and if you do decide to invest in foreign currencies that you limit. That in those investment dollar for your growth portfolio. Of your retirement income plan. It's great question and thank you for submitting that on Roberts if you would like to submit a question to be featured on the financial symphony. You can do that by a going to financial symphony dot com and look at the request line and you can submit a question that way. Good question Robert and let's get little or hear from Paul and mores though. Paul says I guess I should have known better but for some reason I was under the impression that I wouldn't have to pay taxes. On my Social Security benefits but now I know better. It seems like some people pay more than others how does this. Pritchard in the opener for a lot of retirees and no one's ever told them that they had to pay taxes on Social Security estate exceeds certain thresholds so. It all depends on your other income you know up to 85% of your Social Security benefits could be included. And taxed as income for a married couple that's filing jointly. If your income plus 50% of your Social Security benefits exceeds 32000. And up to 50% your benefits are included in taxed as ordinary income. If you're married filing jointly. And the other income plus 50% of your Social Security benefits succeeds 44000. And up to 85%. I'm your benefits are included an income and taxed. Remember your gross income. We include wages self employment. Interest dividends. Other taxable income you like rental properties. And even tax exempt interest is used to help push you up over the threshold so. So if you don't limit your retirement savings in your taxable accounts you know these your non qualified accounts or individual accounts. You can have these unintended tax consequences. Causing your Social Security benefits to be taxed. You know a few years ago Walter I have an elderly couple walk into my office and when they began to describe their investments to me. I was really surprised to find out that they had not mean at 100000 dollar CDs. That 900000 and your taxable buckets and guess what their primary concern what is. He was there ever increasing tax bill. I explained to them that from a tax efficiency standpoint. They had far too much money in their tracks small bucket by having so much and attack will bucket they were exposed and too much of their network to taxes. And it taxes increased in the future their tax bill may get worse and because their CD returns were lower than the rate of inflation. They were also lose and spending power with each passing year or so by Holden a disproportionate. Percentage of your network your taxable account. Which are really doing is creating a tax liability that continues to grow and compound would each passion here. Finally since the pretax investment from the CD's is counted as provisional income. Unfortunately that pushy Social Security in a taxable event as well up to 85% of that. Social Security will now be taxed as ordinary essential this couple was surrendered a portion of their investment group to taxes. And they were shall runner portion of their Social Security taxes as well. This is why tax plan and is so important. And this is why you want to understand. The value of allocate in your savings and retirement and had three different distinct markets so important and. Should that you have things properly allocated in your financial plan and if you need help. Putting a proper plan together you can always reach Richard future rally here in the Charlotte metro area. By calling 8064659. And 96. Again that's 806465996. So much more coming up on the financial symphony today and we have another question on deck this was from Kyle and Estonia. Kyle says will there be a meltdown in silver. Before I knew bull market take saw an interesting question would think Richard you know I just don't think we're gonna see you. Not a move down like the one that happened from 2011 to present. During that time for an silver dropped 45%. And I believe so over wool in the near term you know next few months may be. I expects over to maybe move sideways but and eventually I expected to continue its upward trend. Which is basically started a few months back. Once this period has passed the sideways. Market and I'm expecting and I believe we're gonna see a major bull market truly take off and your wife. The gold silver ratio is one of the world's most closely watched indicators it measures. How many ounces this over it takes a bar one ounce of gold the gold us over ratio is about 7576. To one right now. That's about 50% higher than average going back to 1950. And so what that really means is that shall first trade and had a huge discount to gold. So I don't think silver won't be on sale much longer. And when accomplish over golden ratio the critical level is 808180. Ounces over to one ounce of gold actually critical because. The goal so ratio has only hit this level four times in the last three decades. And every time it has not done so silver has gone on to a big rally. 1990. It hit that level and it's over one up 47%. Thirteen years later it hit eighty. And that times over one up 224%. It happened a third time in 2008. And they silverware and on its usual or 371%. Over the following three years so I think silver. Higher simply because the gold so ratio is still far too high. Are you she either about seventeen ounces over your cross for every one ounce of gold. But only happen that's over or about eight and a half ounces recoverable. We know this because modern mining companies dig up about nine ounces of silver for every ounce of gold that they mine so with the ratio of 75 to one. Unexpected silver rise relative to gold. I keep in mind that the silver market is in the deficit you know this means that people are consuming more show over and being produced. Not only bad last year was a fourth straight year that demand outstrips supply and you don't have to be an economist to know that this is good for the crisis over. So overproduction has fallen and last year was the first time in more than a decade of mine in production fell and that's a big deal so in my opinion. The supplier of silver is going to get tighter. But that's not the only thing that should takes over prices higher doctoral demand first overgrown with solar power being in the drive and four. He sees over as a key ingredient in most solar panels in fact the average solar roof in the US you used 2000 Landis over. And that equates to about 71 ounces. And that's a lot of silver and it's why I think. That silver demand will eventually or in short I believe that the stage is set for much much higher silver prices I don't know exactly when. But I expect that to happen in the near future. You know for most of you continuing to invest would be necessary especially if you're gonna keep pace with inflation. And retain the opportunity for growth torn periods of good economic times. But invest your retirement requires a retirement plan that is structured differently. And the planned use save for retirement it's important to use risk management strategies that allow you to choose how exposure required income is from market volatility. You're required retirement income should be reliable and predictable for the entirety of your retirement years. And this is why I'm so very passionate about my belief that you deserve a secure independent retirement. And that's why I offer a free consultation to our radio listeners to help keep you on that path. So you give me a call the next fifteen minutes and have at least 200000 dollars saved for retirement I'll offer you discrete consultation to help you determine how prepared you are. To handle retirement pitfalls like inflation in health emergencies stock market volatility and of course taxation. You've worked very hard through your money you saved diligently over the last thirty to forty years. If so what I'll do his work as hard as possible to help you protect and grow those statements Ferrell why are variety of tools and services available in the financial world. I'll show you how to harness those tools and services to create a plan it's tailored just for you and I'll show you how to achieve. A lifetime of security thanks to a lifetime of income to give us a call the next fifteen minutes. And will work together to get sure that road to financial security and independence. Here's the number that Jeff the call right now 80646. 5996. That up which in touch with Richard Richard Alley and the team at Carolina retirement resources. 806465996. That's 80646. 5996. Richard has offices in hunter's bill also in Rock Hill South Carolina. And you can get in touch easily and set up that time to meet for. A complementary review of your financial plan but you have to take action and call today at 806465996. That's 80646. 5996. If your retiree or approaching retirement the decisions that you make now. Are extremely important you don't have time when you're citing more to make up for mistakes to get the questions right the first time around the number to call is 80646. 5996. That's 806465996. Satan you're listening to the financial symphony with Richard preacher rally. We all see the finished product to the music superstar. The sold out performances the TV and magazine covers and the eventual acceptance speech at the dreamy. You don't often see is what to get to that stage and hours and hours of practice that traveling the drinks improvement. All those little details happen in the background without us noticing and you know what yeah. George I need to maestro six together a financial plan for you in much the same plane they make the process. Easy for you on the surface. And you'll get tomorrow what the finished product you're playing now. They don't forget about all important beat killed an effort have been going on in the background to wrap your financial masterpiece. And remember your player should be coming beauty come visit with your financial mice and Richard preacher yelling and surfing the Charlotte metro area. Call 80646. 996806468. 996. It's time for another musical connections. Where we learn the world's music can finance together. Here is randomly show financial advisor and a musician mark lawyers. With bronze us. The music connection here on the financial sense that he had Russ suds and mark all it always makes the connection between music and finances and our lives and we're talking about the Beach Boys earlier today in mark your family chemistry was important for the B boys in fact. Some people swear that harmony sung by family members blend better than non related coaxing together the ever heard that. Oh absolutely is true there and any case Brian Wilson was that a rather eccentric. Central figure along with his younger Brothers Dennis and Carl. And their cousin Mike Love and this is the core of the bay and until the first non family member Al Jardine joined. And the late fifties so if that is true then harmonies are really better. With people who are related then people who are not. How does all this makes sense in the financial world. Leader of that comment I gave you about a softball you didn't throw me a soft ball out of what does this Cordova is high heater right out and water are afoot at. Welcome that at well let me let me let me give you financial connection arm. Having different professionals. In your life working together as a family can also make a big difference. So you need to have a financial advisor right that's what we talk about on the show each and every week how important it is outlets offer it is how how. You know it's it's it's a lot harder today. To try to make sure that your managing your risk and volatility I'm really talking to people right now that are either Rick how are close to retirement because this is all about what where you need to be and how you need to have things structured and it's so difficult today to try to manage risk and volatility. Because it's not win the you know if the market's gonna go down let's quit the market's gonna go to this calling it a book on how to correction for some reason. Some bubbles on the burst something's gonna happen globally something's gonna happen geo politically something's going. Happen to calls this market to have a correction because that's what the market does. And you need to know how to manage that risk and volatility. So what you need to have more than ever. Eight financial advisor financial professionals gonna help you but you also may need to CPA. That is that is gonna be able to work hand in hand with that financial advisor so that you admit to make sure that all the recommendations are going to be. Tax sufficient for your specific situation. And if you were concerned about passing that on. The minimal amount of taxes in the middle Allah headaches for your family you're going to need an estate planning attorney. Lowell is kind of like this and nowadays is so specialized. And an and it's very very important happened estate planning attorney who can make sure that all the I's are dotted the t.s are crossed you have all the legal documents that you need not only will the humane need to trust you may need the power of attorney for financial for help for financial decisions while you're you know still alive if you're becoming you know maybe you can't handle it anymore may be some of the benches you know kicking him. You need to have a financial power of attorney for health care so that your family knows you know if you want to be all light supportive to doctors. Have said that that does and that these are just important legal documents so you need devastate a estate planning attorney to help you as well you know it's not uncommon for most people don't. How they're different professionals and communication with the each other so one thing we strive to do each you know with each and every one of our clients. Is work hand in honey and in conjunction. With these other professionals so that we all know the world on the same page. Just like you wouldn't wanna go actually doctor. And have four different doctors prescribing all different kinds of medication. And the other doctors don't know what they're prescribing and you could be getting an adverse reaction or maybe the medicine's not doing what is supposed to do because you're taken the wrong stuff. It's the same thing with your financial health you wanna make sure that your financial plan your retirement plan your income plan your state plan your CPA your tax plan is all harmonious. And that's why it's important to work will advisors who have a work you work well what other people be. May you may need relationships with some of these other professional you don't have right now that can refer you to the right people that know exactly based on where your situation is real house with it whether you retire. Your financial situation or whether or whether you're soon to be retired they know exactly how you need to have things structured and where you need to be. So Ron what I'd like for you to do this year with the folks how they can get in touch with us to get those connections and get that harmony and they're funny. To plan to speed up the phone call 806465996. That's 806465996. And got a complementary review of your financial plan. Just call now wanted to take advantage 806465996. It's remarkable sometimes the emotions and feelings music brings to our daily lives. It was there for graduation. On her wedding day. And sometimes even resonates on our darkest days. So let's look back sunlight and remember the music strikes on them and take a moment to look forward to your retirement. And do you time ripe with uncertainty. Only when the time of Julie. If you can spot now where you don't think your current plan deserve that kind of celebration when you reach retirement. Think it's time to get a second opinion. Come visit with your financial my strength Richard materially. Seven to Charlotte metro area. Call 806465996. 806465996. You want to be sharp and not be flat in retirement. The financial. This is the financial symphonies with Richard Richard relative to show that helps you better prepared for your financial future we will have some fun along. The way if you wanna get in touch with Richard. Pick up the phone call 8064659. 96 again that's 806465996. Richards an investment advisor Carolina retirement resources with offices and hunters though and rock kill. Surfing you throughout the Charlotte metro area we're talking on the program today about what it's like to prepare for. A road trip and how that equates to financial and retirement planning and Richard there's lots of fun parallels that we can make here. Obviously you're an hour road trip agony. Usually have that checklist of items you wanna make sure that you haven't forgotten and retired Clinton is really the same thing there's. Certain things that you need to make sure our address sort. Brought along with you before you set out on that. New adventure facilities some of the things that should be on both your road trip checklist and also your retirement planning. Checklist and the fun part I think of both of these things road trip or retirement is. Deciding where you wanted to go was that conversation usually look like the. Bottom line is is that transition from the workplace in your retirement you know they require the planets are roadmap and and it's not just about money we are a lot of things that you're gonna wanna consider. Are gonna find your destination. Is something that I'm I'm kind of going through there right now I'm thinking well 1015 years now what do I wanna do. You know where my gonna do my time. What cut the travel is on my bucket list you know how much income well I need to make all of this happened all those things go through your mind when you start thinking about retirement. But if all you're doing is thinking about how to manage your assets your retirement I think that's mistakes so your income your plans. For retirement your future health care expenses you know of the continued accumulation of your assets. After you stop work in and stop drawn a paycheck. Everything that you do in retirement especially your income is gonna rely on decisions that you make. And those decisions will impact her income in one way shape or another they'll impact of taxes that you pay on your show a news. It'll impact the financial stability of your retirement and even the legacy if their legacy option is something that your interest and and one hour of organizing your assets can be worth more than entire lifetime of work in and saved for retirement. And that's so true about your road trip to mean making sure that you plan that road trip can put you at ease and make that trip a lot more satisfying so you must conclude that retirement represents a fundamental change your life. And all the rules unit and followed Dorn you work in years. Are different in retirement you do that. And all of a sudden you'll start asking the right questions so instead of an earnings and stays in paradigm. Your move an inch to an income and asset leverage and paradigm where you need to use the money you saved to generate income. Presently in retirement so you need to make sure your savings lasts for your lifetime that's critical. Which depends on how you choose to manage those things as well as and one quarter. That you'll spend what you stated so with forces like inflation more Turk market volatility and fluctuating interest rates working against most of us. You don't know what to do with your statement has never been more important. And the difference between making a good decision and a bad decision has never had such a dramatic impact on how you retire. The question isn't can you or should you allocate your savings to work for you. It's how to do it. From a financial perspective the challenge of planning for a secure a lengthy retirement is preparing for the day your paycheck stops. And how he'll turn a lifetime of savings into an income that you can opt out list. This is a challenge you've never faced before her retirement is more than just kicking back and cashing in on your Social Security. Determine the most efficient. And effective way to leverage your savings for comparable retirement requires a little bit oboe grease the right tools and the. Ultimate professional absolutely Richard I think that's a great point so let's walk down that road no pun intended I guess a little further. And that's and we decide where we're going to go we've got to get that plan together and that's kind of like determining. Your route for the road trip are what highways are we gonna take to get there and it's a little easier nowadays I guess he may just type it in the GPS but. I still disagree with the GPS sometimes a more dough my own way I don't know if you are similar to that and I guess it's similar in the financial world have. Yeah you know it we're becoming more and more dependent on technology but at some point that technology may not be available to us so it's always nice to have him back up. A retirement plan in determining your round means and turn a lot of different questions you know how much risk are you won't take what type of investments will get the job done for you. Who's the coach who along the way I think those things are important to answer. Remember the most important aspect of your retirement plans to first evaluate your company's self critical. Find in the most efficient and beneficial way to or treasury income needs. That's gonna departure lifestyle and your asset accumulation after you retire. Once you identify your income needs you know how much to structure for income and how much to be set aside for accumulation. Ever retiree plan your strategy needs to first accommodate for your data they need for income I can't say that too much. The moment your work and income stops you start living off the money you saved for retirement. You know Internet distribution phase of life. You now are relying on your savings for income and this is where your state when strategy comes in the play. This strategy needs to provide reliable and predictable income for anywhere from 2030. Maybe even forty year in a satisfying this need. And hill's first knowing how much you need and then when you'll need it so happened a budget. It takes care of your basic necessities as critical when you begin the process plan for retirement. What you know what that number is then you can match your income meet with the correct investment strategies options available tools to satisfy that need whatever. If you need income to last ten years. You can collect creeks that. If you need income that lasts a lifetime seek a tool that will do that and that and won't run out. And the most important aspect of any plan is to create a plan that avoids too much exposure risk. Of losing your savings and after your income needs are met the balance of your savings should be dedicated to accumulation you need additional growth he needs to offset the effects of inflation and you're gonna need additional income 510 years out. This is the allocation should be managed with a specific purpose in mind that purposes for growth. So you wanna focus on goal this specific strategies. That will help you to manage for risk first and foremost. Because risk is the controllable factor and any investment portfolio. None of us can manage four returned yet I understand that most of you focus on return even though that's the young controllable factor and harness him in the earning potential of these investments requires guided management. Here requires keeping your emotions came. And it requires patience persistence there's still a certain level of risk. But it's wrist that has managed resultant far better outcome that meet your specific needs over time. Not necessarily in a short term one to three years doesn't really mean much when it comes to growth in the market but over 1015 year period you will see those results. Every day I realized and I talked to individuals that are getting ready to transition out of the workforce. And most of them are more concerned about what do I do with my money I'd have this pocket money what do I do to money. Most of them don't realize that the first thing they wanna do is just to have a written plan in place. It'll retirement every retirees situation is different. He can't just look at a product or strategy and labeling his scooter batter crossed the border you don't know words you don't. You don't go out and buy a preacher money into a product just because you can't lose any money. If that product is not doing what's best for you do then it's the wrong product in all depends on your specific needs and the nuances of your situation. Haven't a plan is a great start but haven't won it fits you and your specific meat for your retirement. He's the only way to help ensure your retirement years will be everything you want them to be. But all boils down to the fact that they are all these different pieces of the financial puzzle and they all need to fit together. So what I'd like to do is offer you the opportunity coming for complete financial review. And we'll offered this review for free to all listeners who have at least 200000 dollars saved for retirement. I'll talk you through all the different puzzle pieces that you need to consider for instance. How much risk are you taken your portfolio and is that amount of risk appropriate for your age and for the amount of return true actually again. How much are you paying any fees and commissions with your current plan. What about the tax implications of your statement is their way to save money in taxes down the road by planned and proactively today. Do you have an income plan in place to be sure that you aren't in danger of running out of money if you end up live in thirty or more your retirement. And you have a plan to address inflation in future decades as the cost of everything continues to rise. Obviously there's a lot we need to discuss and I found that most people just haven't planned thoroughly enough to address all these issues. Again this review is complementary to anyone who has at least 2000 dollars saved for retirement. But the calendar does fill up quickly so go ahead and give us a call right now so that we can be sure to get a spot reserved for you. And this again is your number to call 80646. 5996. To reach Richard preacher rally and take advantage of this complimentary financial review. But Jeffrey the one that takes action don't let procrastinate shouldn't. Pamper you were financial and retirement planning efforts pick up the phone call Richard now you're just expressing your interest that you wanna come in for. A complementary review and virtually sure to set aside that Thomas counter to meet with you. All you have to do is pick up the phone and dial 806465996. Again that's 8064659. 96. He's an investment advisory Carolina retirement resources offices and hunter's bill and in Rock Hill as well. 806465996. Is your number to call. One more time that's 806465996. You're listening to the financial symphony with Richard culturally and there is much more on the web. Much like the musicians 1960s. And their instruments were analyzing the interest of early in the forum performance. Your financial maestro nineteen to a tiny plane to adapt to the ever changing financial world. Don't settle for an advisor who offers a sales pitch and got a plane and make sure you did all the right notes in your financial plan. Come visit with your financial Meister and Richard Richard Elliott and setting the Charlotte metro area. Call 80646599. 806465996. It's time for a fireside chats as we get to know your local financial symphony maestro. This part of the financial symphony that we like to called getting to know view and it's register a kind of a random question Richard future rally trying to get to learn a little more about his personality his lifestyle and I think it's just one of the best parts of the show was just to find that a little bit more about the man behind the Mike and Richard might. Getting to know you question this week is what's the most universally. Well known or below the movie they use never actually seen yourself. I would be all the Harry Potter movie. I. I read the books are there are likely never will my wife turns it on and I just walked out there and it's on its. Are they wet I was a big time Harry Potter downer for many years when I was growing up than they were all coming out and just. I didn't get caught up in swept up in the fever I had no interest in the movies I was the same as you. And I broke my ankle and I ran out of things to watch on TV united exhausted all the possible movies. After surgery I finally was like all right I'll just watch these Harry Potter movies and so I watched I think six of mid come out at that time I watched like six all around. And I got hooked and now like himself once he tried them this are the kind of fun nasty watch them but it does happen that's pretty for not happening for Richardson. Earned minus the godfather I've never seen the godfather is yours that is a delicate turn in my main card I've seen Harry Potter comes at times and never seen the godfather reform. Who watched goodfellas instead OOK so your DiFelice Family Guy can mark should I can watch it over and over handers who threw a lot of what are you basically grew up where. Al and it's the less than there again OK awesome thanks Richard we appreciate it that is getting to know Richard picture alien not the biggest Harry Potter fan and it turns out hasn't seen. Those movies we'll get back to the financial plot coming up on today show this is the financial symphony. The financial symphony is reaching its crescendo. Your local financial maestro and coming up next. This is the financial symphony with richer feature rattling investment advisor Carolina. Retirement resources serving you throughout the Charlotte metro area. If you wanna reach Richard talk about your particular financial plan and what situation here in some of the questions that you have. He can get into specifics with you when you come into the office all you have to do is call 8064659. And 96 that's 80646. 5996. We've been talking about road tripping here on the financial symphony today and what it's like to prepare for road trip and how that parallels with. Preparing for retirement is a well and that we had it. Good conversation few minutes ago about the signing where you've got to go in and determining your routes are you gonna get to your destination you gonna handle it if you. Face different obstacles and detours along the way Richard that we can draw another comparison here and this one would be I think a fun conversation. Decide what you're gonna listen to many years ago it was woody gonna put on the CD mix tape for the trip -- now I guess you just. Pull up your iPod or your phone and playing music off the latter may be a more traditional radio person as you go on these long road trips as well and it's the same thing with financial world say you've got to decide a all these different voices in media members out there who you're gonna listen to when it comes to your retirement road trip. So true you know the minute you enter your retirement planning an arena. Work and where the financial professional. There you can trust. Makes all the difference on how well their retirement reflection desires there are a lot of people who would love to manager shaven but not everyone is qualified to do so. And when I say that I mean in a way that provides a holistic approach to creating a solid retirement income plan. Obviously you want someone that could sure interest first. Someone that will help you meet your goals and objectives. You're looking for someone that will adjust your risk exposure investment cool to secure your required income. Reduce taxes understatement improved by investment strategies. That limit risk quote providing continuing accumulation dorm retirement for the future income that you will need. He won a financial professional that takes your whole financial situation into consideration. Choosing a financial professional to manage a lifetime savings. This is a very important decision that it can also be a very tough decision you and our emotions are involved and sometimes promotions. Don't always secure from the right direction so. Often the financial products that are recommended. They narrow a lot less than you'd think with respect to the plan which matters more. We can meet your specific needs you know I have a ton of bad advice store regional recently. After a client's father passed away. Miguel's brother told her that she could roll her in hurricanes feature her own individual retirement account. And that she did not need to take a required minimum distribution until age seventy and a half. Well it took me three calls send and heard RS regulations on roll over and inherited a higher rate. And a conference call with her accountant convince her that her brother was wrong so be careful who you listen to and when you hire someone with a special expertise. He need to be ready to listen to them. And it's great point you've got to be able to listen to the right voices Richard you can't spend a lot of your time listening to the voices that are going to. You know paths Lance and motivations that are going to be in line with yours I think that's what's so unfortunate as people cannot put their stock in their faith in somebody that. Their interest are necessarily aligned with the retiree. And it takes down a ban path so. Determine who you're going to listen to and make sure that you're listening to the right thing and you're gonna have a much more enjoyable and successful retirement no doubt about that. What more parallel we can draw here Richard and who doesn't when you're on the nice. Straight flat highway with not a lot of cars around you go into cruise control it just makes the trip. That much easier is there a cruise control equivalent in the rich Arab world and and should you use it. If I you know in your financial life it's nice to have some things on cruise control obviously your growth portfolios not going to be on cruise control because. Emotionally people watched the ups and downs in the market that can be kind of stressful. But if you have the necessary income that you need to enjoy the lifestyle that you chose and and you put it on cruise control and there's just nothing better that's the way it works you know you'll always have changes in life. That won't require tweak in plan may need to have adjustments on an annual basis maybe every five years things change but for some things. Like your retirement income. It's nice and it should be on cruise control you want those checks to be predictable reliable and you want in the comment month after month after month. When it comes to income in retirement. He also want to use products that guarantee. That reliable predictable income and you want that guarantees for the entirety of your retirement years and and one product. That accomplishes our gold is an annuity you're back incumbent duties have many similar qualities to your Social Security. Or to your pension. They give them the same look and feel. And that you get those reliable check month after month month after month month after month and most importantly. An income annuity can be an efficient and profitable way to solve your income gap. A new contracts. Our contract between you and insurance company they invest your money went should give it to them typically a combination of bonds and treasuries are safe and dependable asset classes. And they generate modest returns over a long time horizons and other words they invest masses who are stable they invest masses that are predictable. Annuities common many different miracles not all annuities are created equally so there are four different classes of annuities. And you need to understand each class make sure you find the right one for you. And to do that it's gonna require some due diligence on your part you want to fully understand your options inside that annuity. What makes one a new Egypt and from another the features and benefits the costs and who's recommend in the annuity. You know one annuity they fixed index annuity use index and your credit interest to do you know I like this concept of index and you know this is a technique. That let you grow your money when the market is up. But it for capture money when the market drops in the least amount of interest you can ever be credited is zero it's never a negative number. If the market dropped 15% your account receives no interest but it doesn't lose any value in just stays where it is index and lets you capture. A portion of the market when it's going up with a no downside risk and is aren't you keep the contract to fruition and you're not at risk of losing any of your money. And once interest is credited to your account. He never given back even if the market dropped so annuities are safe and reliable financial tool. They guaranteed income for the entire remove your retirement years it creates income that is on cruise control provide an end comes month after month. Year after year. And you know to succeed her retirement. Successful retirement means that you don't run out of money. You need a retirement plan that incorporates a combination of different financial products and different strategies. If you think we'll never see a crash like we hadn't 2002002. Or 20082009. On here to tell you think again I'm really pack. Passionate about you being well prepared for retirement. So what I'd like to do is extend an opportunity for you right now to help you be sure that you will compare. I'm offer and our top America's financial review to anyone who called the next fifteen minutes. And has at least 200000 dollars saved for retirement. I'll talk about your retirement income needs where net income is gonna come from how he'll outpace inflation pay as little possible taxes. And make sure you don't outlive your money. Now you might say I don't really have to call in the next fifteen minutes and yes it's true you could probably take care of it next week or even next month. But here's the deal. I've been coaching people on retirement plan for a long time I've learned that it's really easy to procrastinate or get distracted. So if you don't start the process now there's a very good chance you're not gonna do and at all. So the first coach that I'm gonna get used to encourage you to take that first step right now. For almost everybody that's the hardest part from there it's not a painful process so if you're ready finally get a plan in place give us a call right now. And again this is the number to dial 806465996. That's 80646. 5996. If you still have some question marks surrounding your financial and retirement plan. Now is the time to call in get those things address you don't want to be surprised. At the last minute of an issue with your financial planner that pay your money might not last as long as you do because you don't have the proper plan constructed. Make sure you get in touch with Richard through drilling in advance a title like you know we've talked about the road trip. Scandal like heading out without a full tank of gas on your road trip and letting it get a little closer little bit closer to eat. As you're driving now I'll get the next gas station let's just this just keep forging ahead. The prudent thing to do is pull over Philip on the gas tank in answer to do with getting a review of your financial plan. Go ahead filling up the tank. Making sure that you can make it of the long distance on your road trip rather than pushing and pushing it off to the next gas stations. 806465996. Is your number to call. To reach Richard future rally. That's 8064659. 96 Richard has offices in hunter's bill and it Rock Hill as well serving youth throughout the Charlotte metro area you can get in touch with them it's easy just pick up the phone call 800. 6465996. And say hey Richard I want. Get a review of my financial plan and Richard to make that happen 806465996. That's 800. 6465996. Richard thanks so much for your help on today's program always great getting your insight and that we'll look forward to having another great show an extra thanks Walter appreciated as always that's your. Financial maestro Richard culturally thanks so much for tuning into the show this week and we'll talk to again next time. On the financial symphony. Information is for illustrated purposes only. And does not constitute ten X investment or legal advice always consult a qualified investment legal or tax professional before taking any action. Investment advisory services officer Brookstone capital management LLC an SEC registered investment advisor.