What Can We Learn From The Different Kinds Of Music

Financial Symphony
Saturday, July 7th
Answers to financial questions and what can we learn from all the different types of music.

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

The following is a sponsored program on WBT. Though financial symphony. To the helping you can. Harmonious financial plan and getting your portfolio into it so sit back while always strike up the the financial simple it's starts now. Hello and welcome to the financial symphony thank you for tuning into the program this week. Mark Killian here alongside Richard gooch are really investment advisor representative. At Carolina retirement resources. Serving you here in the Charlotte metro area Richards got an office in hunter's bill North Carolina as well as Rock Hill South Carolina. And you can reach out to any time by calling 80646. 5996. That's 80646. 5996. All you reduce call that number leader contact information and richards' team we get back at Gingrich is scheduled for a time it's convenient. The command talk while one about your retirement journey 80646. 5996. Virtual commence sir are a hundred degree mark curry you. I'm doing very well thank you for asking in if you had a good week this week of course. It's always good so listen we've got our email questions as we always do start out show here so let's see what that Mary's got to force over in Charlotte. She says pretty simply Richard isn't a bad idea to do a Roth conversion. If I have high income. I don't hire her she's married and have good income limits on direct contributions to Roth arteries which is. You know it's unfortunate because Roth IRA it offers tax free earnings growth and tax free withdrawals in retirement. Which makes them potentially valuable as a component of comprehensive retirement income plan. You know and converted some are your funds in the traditional IRA into Iraq very. This is a viable strategy whether you have high income or not you know this would mean that pin attacks on the converted funds up front. And leaving them to grow tax free for the future you know certainly makes sense if you believe taxes will be harder in the future but more importantly. It provides you really tax free bucket to help you better manager taxes and retirement who knows some advisors. Also like to use the so called back door Roth ire race. As another way to secure. Attacked perks that are provided by rob diary accounts. The backer Roth involves first openly non deductible traditional higher rate. And then at some point later converted to a Roth account. The conversion were trigger income tax only on the portion of the contributions I've grown in value. Since the initial funding once in the Roth IRA the savings would compound tax free. You know that the key to any Roth conversion whether you have high income or not is is having the funds to pay taxes. It I have clients that used the home equity line of credit in their homes to access tax free funds to pay the taxes and in most cases. These Klein's were able to repay that home equity line of credit. Prior to retirement but you know you don't have to confer all the funds in your traditional IRA or 41 K to a Roth you know in fact the best solution. His to accumulate the right amount of money in three different accounts of tax deferred accounts tax free account and taxable account and having the wrong balance. In any of these three accounts can lead to massive unintended tax consequences in retirement so. If you don't have a Roth irate it's never bad time to do Roth conversion or multiple Roth conversions or specified period of time. And of course regardless of your income and other benefits down the rouge. Certainly worth it well great question ma'am we certainly appreciate it me if you like to reach on talk with Richard specifically its 8064659. 968064659. 96 and Richard what the new tax laws they put in place they can remove that Roth conversion a mole game if you will the name. Current reform wrong their but I think used to could go back and redo it if you weren't quite happy but now you can't do that is that correct. That's true this year if you do Roth conversion you won't have an opportunity to re characterize that Roth in 2019. So you should be able to do that. For a number of different reasons you may want to do that and that's no longer viable strategy has to. Time okay CIA of course you're always wanna make sure you're talking with a qualified professional before you take any action. 806465996. The talk with Richard drew two rally Blake and hundreds Phil's got a question for you he says Richard what's your opinion. Of investments that require you to keep your money locked up for a certain period of time. I know this happens with some annuities they operate that way as well as some hedge funds yeah notched. But it's true you know annuities are designed to be used over a long term period most of them how. Have though of what we call surrender charges so if you cancel the contract. You will pay a penalty but there are other features that allow you penalties free access. To some of your money you know most annuities. We'll allow penalty free withdrawal of about 10% per year or some little bit less some a little bit more summit duties we'll have a return premium option. So you can get back your original positive any time other -- to allow you penalty free withdrawals for special circumstance you know for example. If you enter a nursing home and need long term care they have what they call emotional confinement waiver you can access all your funds on those circumstances. So there's still some access that you have your principal and most annuities and even no surrender terms are exist so put. With that the instead when you buying a new make sure you have a plan in place so that you won't need to withdraw funds. From a that it could cause you to pay just wondered chargers don't know the words. If you need the funds and five years. You don't want to put him in a ten year nudity so it's always a good idea to you know keep enough liquid cash. At the bank or in your investments to cover any emergencies immediate emergencies. Don't fact most annuity companies. When you do decide to purchase an annuity and it does have the surrender charges in northern Arkansas allowing you. To just purchased at a noon you have to go through what is called suitability. There's suitability requirements that they will review to ensure that it's a suitable transaction. So the other gonna ask you one application if you have any. Liquid funds and non they're gonna ask you if you have access to those funds. So that you won't have to surrender your annuity and pay a surrender fees so annuities can be a great horror. Well financial plan I'm provide valuable guarantees. But as within the investment understanding how they work is critical to making the right choice and I was wonder charges. It's important to understand. How likely it is that you need access to funds early and the availability of other resources so that investment in this case annuity is designed to generate income for you target your retirement years. Then you know the contractual terms of surrender chargers just not relevant. What Roland is is that the objective is income and is providing you with an income for the entirety of your retirement years so when you products. That have surrender charges you wanna make sure that you use them for the right reasons. Well great question Blake we certainly appreciate it to talk with Richard further one on 1806465996. To get yourself on the appointment calendar. 806465996. No cost or obligation to sit down and talk one on one would Richard. And of course always you know zero peace is the kind of come together to make a plane and having an overall retirement income claim has something to Richard can certainly help out whether 806465996. Final question from Bruce in Cornelius he says Richard I'm trying to get to the million dollar mark in my savings. Before I retire a few years so I started myself consulting company on the side. To earn some extra income anything I should be doing to save money on taxes with this newer income. Yeah there's a lot of things you can do as a self employed individual with respect to minimize your taxes you know depend on how you structured. You know you might have enough corporation limited liability corporation. Another number of different things you can do you know one option. Would be to do an executive bonus plan and the owners how the premium for a life insurance contracts yourself. And then right off the premium of the payroll expense to the business so you keep a business taxes as low as possible. And then you receive a personal benefit your premiums are generally tax deductible to the business. And the new report to premiums as taxable compensation on your W two. But since the executive you. You're responsible for paying the tax on agreement is common in these plans to grow up compensation Wear them extra bonus to assistant paid the tax on the premiums. But if your salary is not gross stuff annual increases in the policy cash value may offset the taxes due in some instances you may be able to. Choose to withdraw or borrow pols who values to pay that tax so the executive bonus plan may be advantageous. From a business perspective and personal perspective. On one hand the business who generally deduct a life insurance premiums. And has total discretion it's like to not only who can participate. But also the amount of premiums and coverage that's can be provided. On the other hand during your lifetime you're free to access the policy's cash value so this tax favored status of life insurance makes it well suited. To use an executive bonus plans and so executives with a need for cash can simply borrow policy values down. To their base is that reasonable interest rates but the policies not modified endowment contract. Without paying income taxes or penalties Conroy withdrawals required by qualified plans. In addition the fact that the policy isn't owned by the business did you immediate best and and harper and portability so. You know with any type of plan and this is just one option you know with any type of planning where you want to reduce you know the small business taxes to keep. More of your money working for you you know you just remember to consult with the appropriate tax professionals. And make sure that all your teaser cross and all the I's are dotted. So that other personal problems with the Irish congress you know with any financial plan it began as we have an examination of your current financial situation. And at what you do is you developed an action plan to achieve your goals which are obviously unique to you. So what I'd like to do is offer you the opportunity come in for complete financial review. How often this review for free to all listeners who have at least 2000 or save for retirement. And I'll talk through all the different puzzle pieces that you need to consider you know for instance how much rescue cage and in your portfolio. And is that amount of risk appropriate for your age. As for the return to true Gavin. How much do you pay any fees or commissions put your current plan you know what about the tax implications on your statements is there a way to save money in taxes down the road. My plan 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 living thirty more years in retirement. Do you have a plan to address inflation in future decades as a cost of everything continues to rise. Obviously there's a lot we need to discuss and we found that most people just haven't planned for early enough to address all these issues. Again this review is complementary to anyone who has at least 200000 dollars saved for retirement. But the counter goes so quickly should go ahead and give us a call right now so that we can be sure get a spot reserves period. And that number is 80646. 59 and 96 no cost or obligation to get on the calendar and take advantage of the offer from Richard crew drilling 806465996. Beginning 106465996. To talk with Richard thank Carolina retirement resources is an investment advisor representative here in the Charlotte metro area. 806465996. Stick around more finances and Richard knowledge about. It's time for another musical connection. Where we blend the worlds of music can finance to gather here this friend of. Show financial advisor and musician mark lawyers with bronze dust. It is time now for another musical connection and mark Lloyd's the you know it's it's been a constant theme across history. The parents and their kids don't share the same taste in music they know. Those big splash yeah. I don't know has been used to when I was coming along. My father was really in the bluegrass music and he'd want me play in my rock and roll in the house you know all of a hastily put his foot down exactly and which was kind of unfair but any rate when he was out of the house I was playing an all time but. Was your music do you love that drove your parents crazy. Well you know I have to give my parents credit because they were open minded to let me explore different kinds of music all right we grew up in farm country up in Delaware so we did lists in the country music UW DSD and over Smyrna Delaware I can tell you the wreck the call station that had country music on their so I grew up listen in to the oldies I mean you know I listened to a mall Charlie Rich all of those guys yeah behind closed doors and then later on what the national played that stuff with my brother. Who was fourteen years older and I am but my sister was the big Beatles say it's a naturally album of Beatles they had and that became a teenager. You know I got more in the Led Zeppelin and and even Black Sabbath. And they were open minded enough to let me listen to my music you know back in those days and I'm not a lyrics guys' souls before anybody right means I can't believe it was that they'll music. I play it I. I'd play him one of the largest searches for the Atlanta. Play music could charge ballot if just that I like different kinds of music and my folks were real. Open minded about it. I am Iron Man if you think that's that's just who in turn makes a rare rare for an imminent and and that didn't they I get a better. Question for you here in regards to music want to see music is it that your kids love that drives you crazy well you know the thing about it is is that. My kids grew up with a all kinds of music because I'd like all kinds of music so they kind of my 22 year old son who's my youngest son and he'll listen to Frank Sinatra. But then we'll turn around and listen to something you know what he wasn't something that I might listen Justin Timberlake yes because I've got five kids. I think Justin Timberlake and also meditate or not see anyone less porous on three times. So I'm I'm kind of like. Our families we heard in that way and my family is actually thanked me for being so diverse and music that that passed on to them. Well they'll be list them all kinds of radio stations than most of you have satellite radio but the list of all kinds of radio stations nowadays and I think it's got a cold but I'd have to say that they were not what they want quick story in the while playing music at church and in between the services were sitting in the green room and everybody starts talking about their favorite artist and I'm here in about may have called tame and Paula. Yea yea yea as the future islands oversaw and pick ups Arcade Fire I don't know who these people are the I felt like I. A duck out of 100. The strong bellows kids and elephant desert couple of more contemporary bands you know that then I'm not really familiar with here but the question isn't always been crazy talk about music in generations and everything else. What kind of a mutual financial connection can you make from all this. Well that's a that's an easy ones some pulls a strategies that we use in the financial world makes sense for younger people when you're younger it's about growth growth growth and I'm all tell you right now. You know the period is news flash folks there in order to get to maximize your growth when you're younger you've got to be diversified it's all about asset allocation black called different pieces of pies are different kinds of investments don't throw all of your eggs in a one stop don't vote your all of your eggs in the one mutual funds don't throw all of your eggs into one kind of investment philosophy you need to have a little bit of everything. And I'm telling it in the long run all the ups and downs of the market and you've got an aggressive rebalancing strategy you're gonna be able to India grow that money the most efficient way it's called managing your risking getting the most growth for the risk you're taking now with that said the sooner we get to retirement we get within that retirement red zone within ten years. But the thinking has to change we have got his asset allocate into different buckets of money we need to have some safe money we need to have some income driven money we need to have when we retire we lose that paycheck. Another name for that is permanent unemployment we got to replace that income. It's important to have that income driven bucket but we still need to grow but we need to get off the big roller coaster folks and get on the media ride because once you quit. Your job and you don't contribute to your retirement anymore your living off of it the worst thing you can do mistake number one. Start trawling income from an account that's going back. Words that's how you lock in losses that you'll never get back. You can't do that so you've got to manage the risk and volatility and I'm not bragging but that's what we're really. Really good that managing risk and volatility and still growing the money efficiently. Ron tell the folks up here today how they can get a hold of us to learn more about the. Just to get the following call 806465996. That's 806465996. Beaten got a complementary review of your financial plan. Just call now at a take advantage 806465996. First time for in the news here on the financial symphony. Like to grab a headline it's making its way around and toss it out to Richard give his take on the situation and see what does his thoughts are here on the financial symphony. Richard former Fed Chairman Alan Greenspan says the US economy is. Out of whack and likely headed for another downturn. Do you agree with the the former chairman. Yeah I read that article and know what Greenspan implied was that we're moving towards stagflation. He says demographic changes. You know the huge omnibus spending bill. And higher interest rates are are slowing the economy down despite the benefits that are being reaped from Trump's tax plan. The tax cut plan and none all those regulatory rollback so. You know I'm expecting a global financial reset at some point and I think that apple likely trigger a collapse in stocks and bonds and as well as the derivatives market you know. In fact Warren Buffett referred to derivatives as a financial weapons of mass destruction hook but I also believe that the demise of our dollar is a world reserve currency. Is a certainty at some point as well. Since the go back into the dollar ceased in 1971 it's lost like 98%. In real terms when measured against gold and Franck the dollar is down like 77%. Since 1970 wants unfortunately a dollar. But you know it's it's backed by massive debts and in my opinion. Because of that it's living on borrowed time so I don't have a crystal ball but global events would indicate that something is amiss. So it's better be prepared to not being prepared. You see most of you evaluate your portfolio based on your return you know you're asking the basic question you know did I make money. While that's one way to judge your investments it's also important to evaluate the level of risk you incur when pursuing those returns and therein lies the problem. You can't control for return but you can't control for a show she now's the time. To evaluate the risk in your portfolio. So if you have at least 200000 dollars in savings go ahead and give me a call next fifteen minutes. And I'll provide you with a comprehensive portfolio review of for free to help you understand the amount of pressure taken off for the return that you receive them. Plug in their numbers 8064659. And 96 to take advantage 80646159. 96 this has been in the news on the financial symphony and you'll be back with more viewers which approach really on the other side to reach out to a right now get on the counter 80646. 5996. Carolina retirement. Johnny cashes estate was approached by an advertising company asking permission to use the ring of fire on an ad for him right greens. The request was freaky. On a similar note here's the financial symphony we requested that Johnny Cash the state allow us to use Folsom prison blues is our theme song. That request was also reviews. But keep listening anyway. Back now on the financial symphony Richard future early joining us once again here. He's an investment advisor representative at Carolina retirement resources. In the Charlotte metro area reach out to Richard and get yourself on Islamic calendar for no cost no obligation consultation. At 8064659960008064659. Nine a six would give that number are pretty periodically throughout the programs they have time to jot it down or just go ahead and take twenty seconds and call me your contact information. And ritual help you out in whatever way you need to be held 80646. 5996. Or Richard let's talk about the three worlds of money. Woman boy down really there's only three places where we can invest our money so let's talk about the role of each of these worlds and how they play into a good financial plan. And maybe he can give us some Al best uses misuses pros and cons that kind of thing for each of the world's. Let's start with the one everybody is most familiar with and that's the banking world we've all got a checking account or savings account or something like that we think about the make a world. Well you know we all need to function with a BankAmerica paid bills every single month. But you know we always early release should have an emergency fund and having some cash. In your checking account to pay every day expenses. Cash in the money market or savers account for potential emergencies. That's a good idea you know life happens and there are times when will need taxes cash quickly. And efficiently you know typically. I recommend about six months worth of expenses at the bank in a savings account or money market over and above what you have in your checking account. Are you want does accounts separate from your checking account for the where you don't accidentally use it daily. And you're not attempted to good tap into your reserves. The pros who are that the funds are typically available immediately but the downside is that you shouldn't expect a greater return on these funds in general. The safer in the more liquid assets or the lower due greater return. You'll people who were first to risk. They typically keep a lot of their money in the bank and savings accounts money market accounts second Johnson checking accounts. As high as 200000 dollars and owns a lot of CDs. So for down from a safety standpoint that's a positive. But because rates of returns are miniscule you're losing perks and power due to inflation. And that's a negative okay so haven't cash reserves. Obviously is important but the problem is is that many of you are just Holden wait too much cash. In these accounts at the bank and I can understand if you're holding cashing in an investment account. Just chewed take advantage of may be some opportunities I might come along to make sense to me I can see understand how to cash in that sense. But many of you hold all of your say missing cash for long periods of time. And unfortunately in the long run that can be costly as inflation will gradually ease away. After spending power of cash and if you look at stood in January Consumer Price Index mark. You know I was at 3% so your savings or return unless in this each year tenure trying to powers diminishing you know 3% might seem like a small number. But the relentless cumulative effect. Of the inflation over time can be extremely detrimental also in today's current low interest rate environment. And inflation beat him return is near impossible in the banking world once you have a good cushion. Of cash savings if you have a good emergency fund typically about six months. What you should do is invest a balance you can invest conservatively minimize your risk and you can manage for risk. But keep a large amount of your savings in the banking world in the long run is just not your best interest. Yeah you kind of losing money safely right is not the same condition not keeping up with inflation. That's true they amphitheater recruited from yes I think so with the three worlds of money you know you can't have the three qualities of money as well. And you know you've got there with the banking world you've got that you know the liquidity can get to it and you got I guess some safety as well but you get when I can see much on the growth side. So cereals and make sure there's I think imbalance comes on the plane of course we're gonna talk about that as we move through these. This is the financial symphony with Richard crew drilling 806465996. From the three worlds of money that was the first the banking world what about the insurance world Richard obviously there's a lot they can kind of factor into the insurance side. You know there is you know when you think about the insurance world I mean it's just another bucket to pleasure money enemy about the banking world the insurance world Wall Street are competing for your. Usually installer. You're the best use of the products amid sharp twirled her you know safety caps for growth. And they come in retirement second would be products related here also true long term care insurance massacre supplements. And finally there's products that solve multiple objectives such is life insurance social annuities. The pros there is that the annuity will generate an income stream there and you cannot outlive and in you know that's what retirement is all about retirement to about. A replace and the income you had when your work and with income and are top. And that comes from your state engine on duty to provide peace of mind because your income will continue. And definitely just like a pension a new reason to eliminate longevity risk or the risk about living your saving regional. And then when you consider health issues you know poor health can present. A substantial threat to your retirement savings and always especially if you need long term care. You know my farm tomorrow unfortunately received care for five years or cost of 60000 dollars per year. And happen you insurance to cover that expense really helped my mother in law maintain her retirement lifestyle so. There you have life insurance like insurance can be used to cover burial expenses for example in new low rent pay off debts owed by your state. Replace income if you're married me and you pass away your your your spouse is gonna have been lost in the thing come. So it can be used to replace lost income and maintain. On her standard look them. And many policies these life insurance contracts especially today. Allow you to access the death benefit before death to help cover the cost of long term care solution significant benefits there. You know so I don't see any negatives. Associated with this world. Especially if you limit your purchases to meet any specific financial objectives you don't short products local products have a place and purpose. And they and comprehensive our retirement income plan. You know proper insurance plan and is necessary. In retirement to help mitigate the fiscal impact of a real life event three things happen. But sometimes you can buy too much protection. Or safety you know for example put them all your savings into annuities. To avoid market risk is just not the answer for many of you. You know router combination of stocks and knew you may provide a better balance between growth and safety. And this balanced approach will help you prepare both good and bad economic times so. You don't think about bill in the house would you build a house without a plan I mean what short results would you expect if you didn't have a plan to begin with you know theoretically. You might get lucky and end up with the house of your dreams. But what's more likely is that the house wouldn't be anything like you wanted so managing your savings. Isn't any different you know without a plan you could get lucky but Bea Arthur against the you know without goals. And a well thought out plan for meeting those goals you probably won't end up where you want to be financially. Either in the short term or the long term so he must make goals to meet goals for the first step. It created a financial planners to find your financial objectives once you've determined your objectives then you can match. That's a financial product to that objective so you're not sure you're on the right path on how he should be managing your retirement savings. Go ahead and give me a call the next fifteen minutes and all custom designed for you and easy to understand financial review. At that will indicate if your knee to a full blown financial plan under no obligation. More cost for this initial review all callers who have at least 200000 dollars saved for retirement. So if you meet those qualifications. Here's where you can expect first. A woman Morningstar analysis and compare to report to help you untangle what is cost a new. To work with your current plan or bars or as well as how your portfolio may perform Doris from your market drawn down. We'll show you how to protect your investment to keep more of your money in your accounts next I'll perform a tax analysis to show you how you could possibly reduce your taxes. And it creature cash flow. And finally are creating customized lifetime income planned use of proven strategies and techniques that could Turbo charge your retirement income. In short I'll take the guesswork out of financial planner for you so for all the callers calling next fifteen minutes. A comprehensive financial review is being offered would no obligation to Eminem. Or is 806465996. To take advantage. 806465996. Call that number get yourself on the calendar and command for that consultation what Richard no cost no obligation. 806465996. To get yourself on the third path towards retirement helping get this to him through retirement is what Richard which really is there to help US he's an investment advisor representative. Like Carolina retirement resources and 80646. 59 minutes and we'll be right back with more here on the financials and it. It's time for another musical connection. We're we blend the worlds of music and finance together. Here's a friend of the show financial advisor and musician mark glory. We have bronze ducks it's time for another musical connection so mark you know OR soon musicians were known to their ability to play a lot of different instruments just like you they were multi. I don't know about a bunch of different ones I'm pretty I got to Obama got drums again keyboards but there's a lot of musicians outer complain more than me and. Porsche vocalist to an answer billion estimate for you as well. Paul McCartney. Is a guy who you know a lot of people don't even notice like people to see him play in the based targeting play a lot of stuff based all he's excellent guitarist Phil yesterday. Trump blasts heard adding a left hand guitars so some of those licks that he's playing on blackbird you can't mimic you list your left and guitarist there the F people had tried and they can't do that and then. Back in the early days when he was you know when he when he branched off from The Beatles. I think it was the ram album that he recorded every instrument on that album yeah with the drums he did the base he did everything the keyboards page Jude that's him playing keyboards there they'll let it CSN playing keyboards yeah a couple of songs I can't remember what they are I mean he played drums on them you know yeah and Ringo wasn't there are some. How about Jon Fogarty of credence Clearwater revival. Now that I didn't know yeah I think the guitars but I did know he was multi well he's the great guitar player that he can he complains about anything for Stevie Wonder that Allen is one that really stuns me. Yeah now I've seen him live in concert of course you know he's known for the the keyboards and of course there's many different kinds of keyboards yeah he was there with. Fender Rhodes he was there with a organs and piano's but he was also there with our his harmonica he's known for his harmonica playing. You know so I did not know about the other instruments though I decide how about Jimmy Page one of the best guitarist in Beverly Led Zeppelin Led Zeppelin fame did not realize that in all I had other Saudi was a great star. I think he can play like Camilla Tron and the violin and various other things. Really talented guy it's. And you know all of those people are famous movie form play one instrument but they can play several different instruments and my question to you is what is the financial connection. Well it in the financial world you wanna work with a advisor that is also multi talented not just one dimensional. You wanna make sure that they are not just an insurance Agent Orange shirt professional. You wanna make sure that they're able to do investments in stocks and fixed in common bonds of different ETS. And put together a holistic plan for you we talk about that on the program all the time about how it's important. To be very versatile tile when it comes to retirement planning because a lot more involved than just buying stocks or just investing money. You gotta be thinking about. How much risk and safety you need to have a new portfolio. You know when you're younger you can afford a little bit more risk but the closer you get to retirement it's important Iran that you ratchet down that risk in you and your looking more towards safety net that doesn't mean start going to cash. Cash is king when you bought stuff but cash is a horrible place to park money long term because you're losing buying power you're not growing enough you not earning enough interest to keep up with inflation. So it's all about balance that we talk about on the show all the time about. How to not have all of your eggs in one basket but haven't broken down into you know protected money and then income driven money and then have growth money for longevity Easter because you know we want this money the last. For 3040 years in some cases so we that we got to make sure we're continuing to grow the money fully also got to make sure that things are done very tax sufficiently. What is the impact on new individually. These changes that are made I can promise you when you do these wholesale changes like this it's not going to benefit everybody. So it's very very important that your working with a device just going to be able to look at your. Unique situation to say. This is going to help you this may hurt you so we wanna make sure that your investments to match up to the new tax structure we wanna make sure that the wait may be your self employed business owner like gonorrhea and we wanna make sure that your corporation is set up to be is packed sufficient we wanna make sure that what you're in it when it comes to a state planning what you're gonna be passing on to your errors are tax efficient and this new tax law that's going to look into effect what bearing is that going to have on your family. And then what about the need for income. How do we take this nest egg that you have now and we turn it into a monthly check that your goal to be able to not have to worry about how living for the rest of your life and build inflation in on this so that we can continue to raise the amount of income that's coming into your home see these are all important things that need to beef. You analyzed. And need to be designed and crafted specifically for you and that's what holistic advisors like our financial mice goes to every day Ron tell the folks out here how to get in touch put them. Just to get the following call 806465996. That's 806465996. Beaten got a complementary review of your financial plan. Just call now 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 residents on our darkest days. So as you look back on life and remember the music strikes. Take a moment to look forward to your retirement. That any time ripe with uncertainty. Oh will be a time of Julie. If you're in a spot now where you don't think your current plan deserve that kind of celebration when you reach retirement. Then it's time to get a second opinion. Come visit with your financial my strength Richard materially. Serving the Charlotte metro area. Call 806465996806465996. Did you house produce more milk when listening to relaxing music. That's according to a study conducted in England in 2001. And reported by the BBC. Did you also know that people achieve a higher level of financial satisfaction while listening to the financial symphony. I would never recorded by the PPP primarily because we made it up like keep listening anyway. Finishing up the program here today on the financial simply with Richard foods are really investment advisor representative at Carolina retirement resources. Right here in the Charlotte metro areas you've got questions or concerns. About your own retirement journey give Richard a call and come in and said don't have that one on one conversation 806465996. That's your number to call jot that down pen pencil crayon on whatever handy. And call get on the calendar 8064659. And 96 no cost or obligation. To have that consultation with the Richard you can find him in hunter's go North Carolina and his office there or Rock Hill South Carolina. And again he's easy to get Cuban doing this quite a long time in a great resource to tap into 80646. 5996. We were discussing the three worlds of money earlier on the program we talked about the banking world in the insurance world and Richard kind of alluded to the Third World earlier Automask the Wall Street world so let's dive in this one obviously. You know Richard we've been I don't know jumping all around for the last a couple of months now ever since then drop in February but. How the Wall Street world obviously you know with a three roles this is of the best placed. Dick growth usually that's the reason for investing in markets in the first place and that's because you're you want wealth accumulation you want growth. You know London and the data clearly shows that the stocks have delivered bigger returns in both cash and bonds over the long run in fact. Since 1926. Number talking really long term here OK the compound ray returns have been on nine to 10% of Korman mortar store so. When you work and receiving a paycheck you know your goal should be okay you as much as possible for retirement and stocks view view that potential. Even in retirement you still need to invest in the market because you're gonna need additional growth. First securing additional income in the future as most of retirees are gonna spend anywhere from 23 years in retirement through your allocation may be smaller. In this world and retirement but ignoring this world entirely may be detrimental field. The stock market as a real estate market goes your QB well creators in history but invest in the stock market is much cheaper. And easier than not real state from most people but but it's a long term strategy. That requires persistence. And it requires patience you know with respect of pros and cons will obviously. I personally have no doubt that the markets will go up over time but it's a long time until long term strategy has anything can happen in the short term. That's just a lot of Americans invest monthly by contribute to their 401 k.s every month. You know prices are for hire and you know you have 9394 million millennial that are beginning in the to start to save for retirement themselves I think last year the first millennial turned 34 years of age. Which is similar to the baby boomers had turned 34 back in 1982. So you know as more and more people save for their retirement these colonials. That should push the markets are higher as well historically the stock prices have kept up. And exceeded inflation which is a whole purpose for investment market anyway so the com. Obviously is volatility you know I'm in a worst case scenario is losing money. Early in retirement but losing money any time in retirement or without a plan it could be a problem. You know we have extended periods of time when the markets her freedom negative rather flat you know we saw the lost decade of these are called what we call secular bear markets and also there's a lot of ways. That individuals will misuse this kind of grew remark. Greed unfortunately is a real emotion that causes people to take on too much risk with the hope of hitting a home run if fact many new investors. They're looking to make it big and fast wanna invest in the stock market. For the first time now they tend to make this mistake early on they often chase returns. And search for the next big hop thing. But invest and markets is not a single minded casino where you can bigger you go home with it requires patience persistence so. And you know a lot of retirees remain entirely invested in the market hoping for the best. But never planning for the worst not exceed retiree portfolios entirely investment market. Flew here 50% of their total value when all is said and done. You know many of these individuals who were drawn anywhere from 45%. Annually to cover their expenses before losses. Only did before. To increase that would grow up to maybe 10% so that they can maintain your stand to live and well. These individuals now run the risk a run out of money early in retirement and so taken too much risk. Is the biggest mistake I see retirees May Day in and day out you know. So all the investments fall into these three categories these three worlds. Of invest in so to speak. Each world has place and purpose ideally what you wanna do is have a balance between all three so I'm very passionate about making sure my clients to prepare for retirement. And I want to extend an opportunity for you right now to help you be sure that your well prepared. As well so more firmer couple married financial review if you call next fifteen minutes and have at least 200000 dollars saved for retirement. I'll talk about your retirement income needs we're learning from is going to come from how you outpace inflation pair's lowest possible taxes. And make sure that you don't outlive your money. Now you might say I don't really have to call in the next fifteen minutes and yes that's true he could probably take care of it next week or even next month but here's the deal. I think coaching people on retirement plans for a long time. And I've learned that it's easy to procrastinating get distracted so if you don't start the process now there's a very good chance that you won't do it at all so the first coach and I'm gonna give you is to encourage you to take the first step right now. For almost everybody that's the hardest part from there it's not painful process so you're ready to finally get a plan in place give us a call right now. Let's get started 806465996. 806465996. To take advantage of the offer from Richard who drilling and get on the calendar at Carolina retirement resources 80646. 996. 806465996. With investment advisor Richard culturally and Carolina retirement resources he's an investment advisor representative. Here in the Charlotte metro area and a great resource to tap into here on the financial simply giver to the call 8064659. 96 is always Richard thanks a real program this week we appreciate your time in your wisdom. Thank you mark. And we'll do it next time right here on that in the financial symphony would Richard drew two rally 80646. 5996. Information is for illustrated purposes only. And does not constitute tax investment or legal advice. Always consult with a qualified investment legal or tax professional. Before taking any action investment advisory services offered through Brookstone capital management LL CBC him. A registered investment advisor BCM and Carolina retirement resources are independent of each other.