What Can We Learn From How We Listen To Music

Financial Symphony
Saturday, May 19th
Answers to listener questions and what can we learn from how we listen to music.

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

Following is a sponsored program on WBT. No financial symphony. Harmonious financial plan and getting your portfolio into it so sit back while always strike up the ban. 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 and the Charlotte metro area of 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 a 10646. 5996. All you do is 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. Ritual commence sir Howard. I do agree mark curry you. I'm doing very well thank you for asking in now have you had a good week this week of course. I think it's always good so listen we've got our email questions as we always do to sort 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 higher earners Mary have good income limits on direct contributions to Roth arteries which is. You know it's unfortunate because Roth IRA 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 convert this summer 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 no pain attacks on the converted funds are front. And leaving them to grow tax free for the future you know certainly makes sense if you believe taxes will be higher 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 or Roth ire race. As another way to secure. Attacked perks that are provided by rock fiery accounts. The backer Roth involves first opening non deductible traditional higher rate. And then at some point later converted to a Roth account. The conversion would 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 do the key to any Roth conversion whether you have high income or not is is having the funds to pay taxes. Can I have clients abused 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 retiring. 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. Is to accumulate the right amount of money in three different counts of tax deferred accounts tax free account and taxable account and have in the wrong balance. And any of these three accounts can lead to massive unintended tax consequences in retirement so. If you don't have a Roth IRA. It's never bad time to do Roth conversion or multiple Roth conversions whole Porsche specified period of time and of course regardless of your income and other benefits down the road. For men worth it well great question ma'am we certainly appreciate it mean if you like to reach out and 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. Correct me if I'm wrong there but I think Easter 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 and 2019. So you should be able to do that. For a number of different reasons you may want to do that and got no longer viable strategy here because. Time okay CIA of course you always want to make sure you're talking with a qualified professional before you take any action. 806465996. To talk with Richard drew two rally Blake and hunter Eagles 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 fund. Yeah that's true a lot of times that terminology we don't know why would you wanna lock up your funds such as usual wedge for you going to different directions maybe the right direction. But it's true you know annuities are designed to be used over a long term period most of them have what we call surrender charges so if you cancel the contract. You will pay a penalty but there're other features that allow you penalty 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 will have a return premium option. So you can get back your original positive any time other duties to allow you penalty free withdrawals for special circumstance you know for example. If you add term nursing home and need long term care they have what they call a nursing home confinement waiver you can access all your funds on the circumstances. So there's still some access that you have your principal and most annuities and even no surrender terms are exist so but with that the instead. When you find a new we make sure you have a plan in place so that you won't need to withdraw the funds. From there that could cause you to pay is rendered chargers don't know the words. If you need the funds in five years. You don't want to put him in a ten year annuity 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. To just purchased got a new new you have to go through what is called shoot ability there's suitability requirements that they will review to ensure that it's a suitable transaction. So the other gonna ask you want an 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 with any investment understand and 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 ought to investment in this case annuity is designed to generate income for the entirely of your retirement years. Then you know the contractual terms of Schwerner 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 he wanted to make sure that you use them for the right reasons. Well great question Blake we certainly appreciate it talked 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 these are all pieces they kind of come together to make a plan. Having an overall retirement income claim is something that Richard can certainly help Bellwether 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 an S corporation limited liability corporation. Another number 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 contract yourself. And then right off the premium of the payroll expense to the business so you keep a business taxes slows possible. And you receive a personal benefit your premiums are generally tax deductible to the business. And the new report to premiums is 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 grows 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 poultry values to pay that tax so. The executive both plan may be advantageous from a business perspective and a personal perspective. On one hand the business to 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. Can be provided. On the other hand during your lifetime you're free to access to 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 give you immediate best and and hung percent 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 work 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 begins we have an examination of your current financial situation. And then what you do you develop 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 comes 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 rescued taken in your portfolio. And is that amount of risk. Appropriate for your age. As for the return to true given how much are you paying in fees and commission put your current plan. You know what about the tax implications on your statement is there a way to save money in taxes down the road by planning 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 the 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 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 calendar does filled quickly should go ahead and give us a call right now so that we can be sure get a spot reserves created. And that number is 80646. 5996. No cost or obligation to get on the calendar and take advantage of the offer from Richard culturally 8064615996. Again 806465996. To talk with Richard. Thank Carolina retire resources he's an investment advisor representative here in the Charlotte metro area the 806465996. Stay grounded more financial stuff you become richer now for the back end. It's time for another musical connection. Where we blend the worlds of music and finance together. Dear friend of the show of financial advisor and musician mark glory yeah we're two bronze stunts. It is time now for another musical connection and my boys you and I both have been listening to music. Our whole lives. Music aficionados if you will for a very long time. Take a moment and think. Bad guys I started at 45 record this. If you go to the five and dime and mile 45 record it with a new and came on the radio let's say the my dad hey can we stop it at Woolworth's and can I get a new record. Andy you're government 79 cents to support a guy yell and I at least we didn't start with 78. I know some people who do that. Post thing about now access to music is changed over the years used to be that you can either buy a record. Or listened to and on the radio that was the only way you can get it I think of all the ways you can access music Spotify. Pandora. You know people keep our got a friend who keeps bugging me about converting to Spotify. I didn't listen to music sometimes on pandora there's iTunes YouTube I'm on YouTube all the time. Of course all the longstanding ways like CDs and of course. The radio and radio is gone a satellite radios and all kinds of music. Exactly but you know how do you listen to music well today I still listen I listen to radio Ali talk radio too so you know I'm a talk radio. That even on a musician you know I love listen to talk radio. But I also listen through iTunes yet so hot you know I have like apple music in iTunes and and especially when I'm on a plane I'm constantly the whole flight as I'm listening to music. And I'm studying music because I still have an opportunity play keyboards at my local church cure so I'm constantly listening to the keyboard parts so. There's different web sites I go to outta here to specific parts of music do you have a vinyl collection a CD collection. I had some of my favorite albums like the white album Beatles yet I have it on album on final price I had it on eight track tape. So I dug on what I had to don't eight track tape what do I had an old cassette tape yeah. I had it on CDs. And now I have it on iTunes there they got what six times five or six yeah I don't want the same thing as you may believe it was a rich water where he held a bunch of other people that's right what the world can we learn from all this talk about music. And how you get it. Two of the financial world what application does that. You know it used to be that having a stockbroker was the only way that you could access the world of investing but you know that's about the case that more matter back that's the most expensive way stockbroker. Don't think about all the way you can get involved in the financial world now you could still use that big brokerage house and pay through the nose. Where you could work with a independent advisor kind of like what we are we're fiduciary. We are going to be looking out for your best interest and people work with folks like us because we have access to the investment universe that takes the challenge. And the pain. Of trying to find the right investments in some cases. Now there are some folks that I mean better do it yourself investors are loved doing it and the use that's the kind of partner with them and that's okay too. You know we might handle part of the portfolio they may handle part of the portfolio because they'd love sitting down and trading their own stocks. And some clients of mine. Frankly Ron had done a pretty good job of not tellem told straight up you've done a great job of that of investing in you through the years. What you need is something to offset org that's different than what you're doing because it is about diversification. Not having all of your eggs in one basket. And today. You know it's so many different investments in strategies out here how do you know. If you have the right strategies or if you're working with the multiple people. How do you know they're not investing all in the same stuff or you're doing your own investing how to you know if you're diversified enough. Have you positioned things and away that the closer you get to retirement. That you are more diversified than ever and bringing your wrist down to a comfortable level we're now going take cash. Cash is king when you're buying something. But cash isn't king in the investment world. Because you're not keeping up with the inflation in most cases. So you wanna make sure that you're looking at alternative investing strategies. That are going to offset the safe part of your portfolio. And there's things out here today the you can use. That have a historical. Bring your return well are higher than cash ever was or even beating bonds. You know a lot of times the closer we get to retirement than we think the solution is moving things over to bonds. But that's not the case either specially with the interest rates rising bonds can take a hit. You need to learn take the time to learn. And that's the beauty of working with a advisor. Vs trying to do it yourself vs you know just more people to stockbroker who's trying to sell your product. Working with a holistic advisor distillate take the time to educate you. Ron tell the folks how they can reach out and Loren is specifically where their act and how they can fix some of the situations that there. Dispute at the following call 806465996. That's 806465996. Didn't get a complimentary review of your financial plan. Just call now to take advantage 806465996. Well it's time for in the news here on the financial symphony. Like the grabbing headline that's making its way around and toss it out to Richard give his take on the situation and see what does your stocks 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 said 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 that will 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 thought. 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 nine B a push sand. In real terms when measured against gold and franks the dollars 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 yeah 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 wish you incur when pursuing those returns and therein lies the problem. He can't control for return but you can't control who refused now's the time. To evaluate the risk in your portfolio. So if you have at least 200000 dollars in savings go 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. And that number's 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 you with a chip which really on the other side to reach out to a right now and get on the counter 80646. 5996. At Carolina retirement. They can. Johnny cashes estate was approached by an advertising companies asking permission to use the ring of fire on an ad for him right greens. The request was freaky. On a similar note here 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 all the financial symphony Richard coach early joining us once again here. He's an investment advisor representative Carolina retirement resources. In the Charlotte metro area reach out to Richard and get yourself on the appointment calendar for no cost no obligation consultation. At 8064659960008064659. 96 would give that number are pretty periodically throughout the programs they have time the jotted down or just go ahead and take twenty seconds and call. Leave 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. When we 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 you can kind of give us some I don't miss uses misuse is 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. 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 after the bank you know 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 so that's where you don't accidentally uses 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 is that you shouldn't expect a greater return on these funds in general. The safer in the more liquid assets oracle lowered to a greater return. A people who were first to risk. They typically keep a lot of their money in the bank and savings accounts money market accounts second guy she sure can accounts. As high as 200000 dollars and Owens a lot of CDs. So for them from a safety standpoint that's a positive. But because rates of returns are miniscule you're losing purchasing 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 cash in an investment account. Just chewed take advantage of may be some opportunities that might come along to make sense to me I can see understand haven't cautioned that sense. But many of you hold all of your say losing cash for long periods of time. And unfortunately in a long run that can be costly as inflation will gradually ease away. After spending power cash and if you look at those 2 January Consumer Price Index mark. You know I was at 3% so your savings or return less in this each year tenure trying to powers commission you don't 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 Logan trade environment. And inflation being in return is near impossible in the bank and world once you have a good cushion. Of cash say friends if you have a good emergency funds typically about six months. What you should do is invest a balance. You can invest conservatively minimize your risk 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 position not keeping up with the inflation. That's true dampens your recruited him 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 get 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 definitely not gonna see much on the growth side. So it's serials and make sure there's I think imbalance comes in the play and 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 not a you know when you think about the insurance world I mean it's just another bucket to completion of money enemy about the bank in world does insurance world Wall Street are competing for your. You're seeing installer. You're the best use of the products in the insurance world or you know safety caps for growth. And they common retirement second would be products related to your hell also true long term care insurance massacre supplements. And finally there's products that solve multiple objectives are true life insurance through those so annuities. The pros there is do you knew he will generate an income stream that 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 savings and loan duties provide peace of mind because your income will continue. And definitely just like a pension annuities limited longevity risk. Or the risk about living your savings you know and then when you consider health issues you know poor health can present. A substantial threat to your retirement savings yours especially if you need long term care. You know my farm tomorrow unfortunately received care for five years our cost of 60000 dollars per year. And have been huge charge to cover that expense really helped my mother in law maintain her retirement lifestyle so. The you have life insurance like returns can be used to cover burial expenses for example no low end pay off debts owed by your state. Replace income if you're married me and you passed away you know you're you're about who's gonna have been lost for nothing come. So it can be used to replace lost income and maintain. Hirsch standard look them. And many policies he's like 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 a specific financial objectives you don't short product cycle probably have a place and purpose. In May 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 events and things happen. But sometimes you can buy too much protection. Or safety you know for example putting all your savings into annuities. To avoid market risk is just not the answer for many of you. You know around her combination of stocks in the news 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. 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 beyond you're against the you know without goals. And a well thought out plan for meeting those goals you're 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 Gupta is once you've determined your objectives then you can match. That's a financial product to that objective source you're not sure you're on the right path on how he should be managing your retirement savings. Go ahead and give me Cohen next fifteen minutes and all custom designed for you and easy to understand financial review. At that will indicate if you're new to a full blown financial planners 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 lot of Morningstar analysis and come cursory report to help you untangle what is cost a new. To work with your current planner advisor 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 the taxes. And it creature cash flow. And finally are creating customized lifetime income planned use of proven strategies and techniques that could Turbo charger retirement income. In short I'll take the guesswork out of financial planner for you so for all the callers calling next fifteen minutes. Page comprehensive financial review being offered with no obligation to Eminem. Or is 806465996. To take advantage. 806465996. Call that number get yourself on the calendar and command for that consultation when Richard no cost no obligation. 806465996. Give yourself on prudent path towards retirement help me get this to and through retirement is what Richard which really is there to help you if he's an investment advisor representative. Picked Carolina retirement resources 80646. We'll be right back for more here on my. 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 resolute on our darkest days. So as you look back on life and remember the music strikes aren't you take a moment to look forward to your retirement. Any time ripe with uncertainty. A will be a time eventually. If you're in 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. Serving the Charlotte metro area. Call 806465996806465996. We all see the finished product of the music superstar. The sold out performances the TV and magazine covers and the eventual acceptance speech have been dreaming. Like I don't often see is what it takes to get to that stage and hours and hours of practice the traveling that critics see improvement. All those little details happen in the background without us noticing and you know like to your financial maestro takes together a financial plan for you in much the same plane naming the process it's easy for you on the surface. And you'll get some marveled at the finished product. Your plane now. But don't forget about the all important each killed an entry pattern going on in the background to grab your financial masterpiece. And remember your plan should be seeing beauty come visit with your financial my stroke Richard picture telling. Surfing the Charlotte metro area. Call 80646. 99680646. KB 996. Yeah. It's time for fireside chat. As we get to know you're local financial symphony maestro. Well it's getting to know you time here on the financial simply got to step away from the financial chatter for a moment or two and to get to their Richard outside the financial around and we like to ask all kinds of random questions here on this segment of the show and this one's a good when this week Richard what something that you thought was really cool when you were younger. But when you look back on it with some time and it's at your disposal you go really well as I think and that's a. Classic smoking I mean that was really cool thing to do when your kid I mean. In fact he was the epitome of cool enough right exactly. Nor do media. Remember the moral man I wanted to be here and I thought I got school you know isn't it John Wayne back and oh yeah and here tomorrow romance smoke and morals there is so just who I ended up smoking marvel series. In fact they used to rule the box open the sleeve of my teacher you know and I thought that it's. But and you know they get older you realize that it's not so cool to smoke in obviously because of potential negative health ramifications so. Yeah or ours John Fox smoker was cool but then as I get older realized there wasn't. So I don't smoke. Now let's give a that's always good to hear I was wondering if you're gonna so I was thinking I don't know why popped into my head bad hair styles popped into my head. And Alice they can for my generation and their late eighties mid eighties it was as god awful in the mullet. And and yet the thinking about like the pop the door now house wanted to like a picture Richard would like apartment door from. From the fifties kind of an Elvis look up but you probably rocked a pretty good that it didn't you know backed and I had a lot of here it's true that we do a veteran that's that's very. Answer I always think about that as a means they cost so much mess of a team Korea look at not so much now yeah again that. Well I I like Jerry it's a much better smoking certainly was one of those things that had to if. Had a two run for a long time where we want thought it was cool to have a cigarette and and and we learned maybe not so much so that they're getting familiar this week here on the program would Richard good to really. We'll get back to the financial talk here on the other side. Wherever you go there I had. Following lurking stinking alone continuously nibbling away your hard work. Did you. C. Don't be afraid of hidden fees in your portfolio. Come in to meet with their financial maestro for review of all the fees in your current plan. Let's see if we can eliminate those pesky. Okay. I'm. Come visit with your financial maestro and Richardson to LE serving the Charlotte metro area. Call 806 point 65996. 806465996. Timing is everything. In music as well as life. Having the right tempo and rhythm helps all the musicians in the connector lock into place and ensures smooth and steady performance. The same can be said for your financial future where timing is everything. Having the right person to guide you through your financial concerto can make all the difference timing. And tempo in life in music in retirement. Is everything. Come visit with your financial maestro Richard Richard Elliott. Serving the Charlotte metro area. Call 806 point 65996806465996. Much like the musicians 1980 its mistakes and their instruments or analyzing the acoustics of early in the forum performance. Your financial maestro fine tuned to your financial plane to adapt to the ever changing financial world. Don't settle for an advisor who offers a sales pitch and also plans to make sure you did all the right notes in your financial plan. Come visit with your financial maestro of Richard Richard Elliott and setting the Charlotte metro area. Call 806465996. 806465996. Did you cows produce more milk when listening to relaxing music. That's according to a study conducted in England in 2001. And recorded by the BBC. Did you also know that people achieve a higher level of financial satisfaction while listening to the financial symphony. Would never reported by the BP. Primarily because we made it up like keep listening anyway. Finishing up the program here today on the financial simply with Richard puts a 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 command and sit don't have that one on one conversation 806465996. That's your number to call jot that down pen pencil crown whatever handy. Thank you all get on the calendar 8064659. And 96 no cost or obligation. To have that consultation with the Richard you can find him and hunters go North Carolina and his office there or Rock Hill South Carolina. And again he's easy to get you've been doing is quite along time and 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's the Wall Street world obviously you know with a three roles this is of the best. Place to get 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. In 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're working in receiving a paycheck and your goal should be jokingly 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 year version retirements for your allocation may be smaller. In this world and retirement putting more on this world entirely may be detrimental field. You stock market that the 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 for most people but but it's a long term strategy. They're requires persistence. And it requires patience you know with respect of pros and cons will obviously. I personally have no doubt that the market will go up over time but it's a long time it's a long term strategy has anything can happen in the short term. And since 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 in 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. Actually push the markets are higher as well historically stock prices have kept up. And exceeded inflation which is a whole purpose for investment market anyway so the pond. Obviously is volatility you know I mean the 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 are greens are 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 category mark. 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 mail 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 is 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 seen retiree portfolios entirely investment market. Lou 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 to be forced 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 a place and purpose ideally what you wanna do is have a balance between all three so I'm very passionate about making sure my client to prepare for retirement. And I want to extend an opportunity for you right now to help you be sure that your well prepared. And as well so more firmer cop Mary financial review. If you call the next fifteen minutes and have at least 200000 dollars saved for retirement I'll talk about your retirement income these we're learning from is going to come from. How you'll outpace inflation pay as little as 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 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 plan 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 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. 806468996. 806465996. With the best advisor Richard culturally and Carolina retire 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 as 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 coach a rally 80646. 59 and 96. 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.