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2021 EP0130 Planning Matters Radio - THE PLAN

Planning Matters Radio / Peter Richon
The Truth Network Radio
January 29, 2021 7:00 pm

2021 EP0130 Planning Matters Radio - THE PLAN

Planning Matters Radio / Peter Richon

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January 29, 2021 7:00 pm

Having a plan is what answers and addresses many of the big questions and risks we will face in retirement, but the majority of savers and investors don't have a plan. They have a projection. Without a true plan, our retirement lifestyle may be based on no more than hopeful, optimistic assumptions. What if they are wrong? What if the future turns out to be less optimistic than those projections assumed. Master Registered Financial Consultant (MRFC®) and Dave Ramsey SmartVestor Pro® Peter Richon offer advice on examining your situation to determine if you have a plan or a projection and how to get an Optimized Retirement Plan put together.

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When we want you to plan more since planning matters radio hello and welcome program.

I am John planning matters radio on to find this online which on main John John what's going on here already want to live up to 21 that an financial matters was what happened with game stop and AMC theaters and Motorola and Nokia and blackberry. It was interesting. Prices shot way way up and it received a whole lot of news headlines was talked about in the hall of Congress a lot of discussion both for and against what happened. So, in summary, here is what happened is that in this day and age, we have the ability to communicate much more broadly.

Much more efficiently much more quickly than ever before. And so, in these what are essentially chat room message boards of about 2 1/2 million people, some with a good size amount to invest got together and basically said were going to make a push make purchases and drive certain stock prices in a certain direction. They evidently did not like some of the hedge fund managers placing bets against certain companies. That's sort of what is in the news is as what had prompted this, but here's the thing.

The big dogs with large amounts of money with billions of dollars to invest have always been able to generate enough momentum to move the markets and move prices and so this brought that down to a level maybe not one of these individuals in these group chat rooms would have had that ability, but because they were able to communicate their intentions and then move in unison.

It was able to create the kind of impact in supply and demand to swing the price of certain stocks. 2 1/2 million people were in this Wall Street bets chat room.

Essentially, this read it thread and forum and when they said, hey, this is what were going to do it was public information. It was not insider trading.

It was just the number of people that did it in unison that drove the prices and then several of the brokerage firms and financial institutions and investing apps works were forced to take some action against it.

Even though some of the CEOs of these firms came out as a proponent for this move, I actually saw the Robin Hood CEO on television on a you tube video on Yahoo news per reporting that he supported the little man and their ability to do this and how within the Robin Hood platform. It gave these people the ability to have some power in in their investing. It's interesting and I am sure I am certain there is going to be some regulation but again this is the type of thing that big investment firms, brokerage houses had funds managed hedge fund managers who are controlling no hundreds of millions or billions of dollars and can direct that capital all at once.

Have had the ability to do it's just in my opinion sort of been democratized in some in some way with the ability for hundreds of thousands or millions of people to communicate these intentions and to push in unison either buying or selling again.

I think that there's some regulation coming down the pipe and this is kind of onion uncharted territory. But it's interesting to see that that ability exists and will see how it develops from there. So again my name is Peter Rochon this is Rich on planning planning matters radio and he tends to take a more fundamental approach to investing.

There's nothing wrong with maybe what what happened they are or some crypto currency orbit cocaine in your portfolio but that's your play money and over the course of this pandemic with coving an awful lot of people. A large number of people sitting at home have gotten into daytrading and because the market has agreed because $6 trillion has been pumped into the market to stimulate the economy by the government. Things have gone well for a lot of these day traders.

Some people made small fortunes during this time, however, riding a trend in knowing what were doing can be confusingly two different things and I just hope that people are maybe also sticking to some longer-term fundamentals of investing and only doing this with a portion of their money that they understand is it is at high risk and that they are comfortable losing and again maybe not anything wrong with that but we also need to have a very firm grasp on the foundation of our plan and so that's what we do it Rochon planning we have a more fundamental approach for our clients.

We take a long-term outlook to investing. We have proper diversification and allocation based on individuals client risk tolerance, and we rebalance both systematically and strategically. Tactically we we manage portfolios and then systematically we we manage portfolios and rebalance on a regular ongoing basis as well as as conditions dictate.

And that really is the formula for long-term financial let me put this differently. Long-term investment success.

Now financial successes is maybe a little different than investment success. The money is important, but ultimately it is a tool to support what is truly important to us. The money is not the most important thing we have got to set the money up in such a way that we are capable of having confidence in doing the things that are truly important to us and therefore true financial success comes from the planning process. Sitting down having a plan in place a snapshot of where you are today written down goals for the future and then clear instructions to follow on how you are going to achieve those goals.

And again that's what we do at Rochon planning you like any help in that process. If you'd like to look at your options if you got some money that's in the market. The maybe you're not so comfortable with where the market is right now. It's a great time to look at that and consider that carefully. If you've got some goals that you're not sure your money is working hard enough to help you achieve great time to look at that. If you are concerned with taxes into the future. Great time to begin planning for that we we can help you with that. I'm I am a fiduciary advisor. We take a fiduciary approach to the advice that we are giving to our clients and if you would like to sit and have a conversation in person or virtually we can have those conversations with you. No cost no obligation doesn't need to be anything more than conversation.

Give us a call 919-300-5886 919-300-5886 is the number to call and would love to hear from you and talk with you going to be talk a little bit more today on the program about your plan. What we offer is what many want to have. It's also the missing key component an actual plan in writing.

It was said by Greg Reid and author and motivational speaker that a dream written down with a date becomes a goalie goal broken down into steps becomes a plan, a plan backed by action makes your dreams come true and the key steps are after the initial dream right everybody can have a dream we don't know what a horror.

Sometimes we can't control them in the likelihood of them coming true. We don't don't don't see it often.

But what increases the probability of will call your dreams or your hopes or your aspiration. What determines whether you're on track to achieving those or whether you've Artie failed at them is is the steps that you take after the thought in your head of I have this dream I have this goal writing down turns into a goal and we offer those follow-up and follow-through steps are plan is called optimized retirement plan. It's broken down into simple, easy to follow instructions to help you achieve your financial goals and today I am the rest of the program going talk a little bit more about the optimized retirement plan from Rochon planning how you can get that in your hand so you can make your retirement dreams or goals or aspirations come true if you don't feel like that's possible admitting defeat sometimes and in our financial life. It's it's it's going to hurt but I'm here to tell you that it is possible don't turn the channel, whether you feel like you're behind or you haven't done enough. You still need a plan and that plan still can work to help you achieve your future goals. You just have to decide in your life. What is realistic you don't have anything to lose by having a plan though. That's the bottom line.

So again today were to talk about what that plan consists of why the optimized retirement plan from Rochon planning is different than anything that you can get out there anywhere else. It's a proprietary plan and how you can get that in your hands a state-owned lots of information coming your way but special offer. If you like that plan.

Pick up the phone.

Give us a call 919-300-5886 919-300-5886. What does the plan consist of number one, a snapshot of your current situation, my Angelou said if you don't know where you've come from. You don't know where you're going and so there's a couple places that I can give you a pretty pretty spot on analogy one is I have been to them all in a very long time. But when I used to go to malls. My goal was to get something specific, and to get back out of the mall as quick as I could. So whenever I entered the mall I would always look for that three sided stand that had the map of the mall on it and you want to find what store it is that you need to get tube as importantly, maybe more importantly is the red aero that says you are here because knowing where you are allows you to map the course out to that mall or out to that store and the same is true if you've ever been to an amusement park.

You know you can get that map and you see all the roller coasters and and it's got the pictures of the fun stuff and and the food and the games and where the rides and attractions are but if you're looking just at that map that they hand you it can be a little confusing. You have to get your bearings. Those maps were not as helpful because they did not have the red arrow saying you are here.

So as my Angelou alluded to. If you don't know where you've come from.

If you don't know where you are. You don't know where you're going most important part of reading any map any instructions is starting that journey or that process is knowing where you are. If nothing else, this step alone is worth the investment of time that it takes to get a optimized retirement plan, the snapshot of your current situation. It's really only a very small part of it, but you get that reassurance may cause you to smile.

It may cause you some concern, but either way you're more knowledgeable about and in control of your destiny and that's about empowerment.

That's about giving you the knowledge to act in the action does come later, but first you gotta know where you are.

The second part of the optimized retirement plan from Rochon planning is goals and another saying along the same lines from Lewis Carroll, Alice in Wonderland and the Cheshire cat with when you don't know where you're going, any road will get you there. So if you don't have clearly defined goals. What is a matter what you do if you don't know where you're going, any road will get you there. We need to define. We need to understand we need to have some expectation about where were going to end up where we want to be going in there. We can set the road we can set the course. We can map that out.

I think that that little quit from the Cheshire cat as he kind of muses about Alice's Disney dizzying trip through Wonderland is apropos. She didn't know where she wanted to get to sometimes getting somewhere in our financial lives feels is confusing as Wonderland must've felt Alice but we all want to get somewhere. But where do we want to get to clear goals must be defined to make the process that is needed to to to clarify an end and define that process. Lots of savers have goals.

Most of them have never spoken them aloud or quantified them want to save more money will that's not it's a hope. But it's not truly a goal this year. I would like to max out my 401(k) this year. I would like to save 15% of my gross household income toward retirement this year. I want to pay 5000 extra on the principle of the house to pay it down this year. I would like to get out of debt.

I would like to pay off $5000 in student loans.

We got quantified. We gotta be specific and we got right those goals down back to Greg reading know a dream written down with the date becomes a goal let's make goals. That's the second part of the plan and it is a process, but it's one that we can walk through with you and talk to you about those goals and define them and then write them down, get them in writing in a true plan for you. Simple, easy to understand language, and then the next part is the recommendations these are action items. This is a timeline for execution is where the rubber meets the road. This is where the work goes to achieve your financial goals. If you like this optimized retirement plan doesn't cost you anything. That's the first part of this getting that plan in your hands.

That's a free service that we offer because we believe we should be helping anyone that wants to improve their financial situation. Now we don't have account minimums but not every buddy is a perfect fit to end up working with us, but everybody's a perfect fit to get a plan snapshot of where they are. Discussion of goals and then some recommendations that whole process might take maybe 25, 30 minutes, it may take much longer it may take a couple different conversations that go about an hour and and Scana defining things all depends, but were here to help and assist you get that planning get a feel for where you're at and what you need to be doing in order to achieve your goals. So the third part again. Recommendations have you ever wondered how how every stalker in Hollywood seems to be able to transform their bodies. Miraculously, no one one movie they might be sick and in skinny the next their buff and muscular. The next they might be a little overweight while they're working with personal trainers to help them make that happen in the personal trainers understand the physics of the body and they make recommendations for how they should eat and exercise and then maybe most importantly, they hold those folks accountable to follow through every professional athlete still has a coach still works with trainers and the reason why is that's the accountability that's the follow-through that's how you get better doctors make recommendations every day for more routine or maybe sometimes even some more serious health matters. Recommendations from a professional standpoint are a step in the right direction. This is how you know what you should be doing in financial retirement planning matters are the same way planners and advisors make recommendations in much the same way. So with our plan that optimized retirement plan from Rochon planning really with your plan, your optimized retirement plan. These recommendations are written down for you and easy to understand language so you can put them into action. There simple steps. There is a timeline. What are some of the things that that these recommendations may cover well priorities action items timeline what's addressed as income investments, taxes, healthcare legacy, the result is that you're more accountable you're more knowledgeable and there is some accountability for follow-through to get results. But I said even professionals use a coach and the reason why is the accountability factor plus plus professionals know some tricks of the trade, so to speak.

Now this is an anything you magical that that isn't out there are available if you know where to look or what to look for but again with the example of people getting in shape without the Hollywood stars that can change and mold their body, their personal trainers know the exercises to do.

They they they know the specific machines that will help work a certain set of muscles. They know a specific diet that will produce the results that are desired or needed for that next role it's it's all about understanding the tools that are available to you and how to work them mean even in times before, let's say, like heavy machinery's cranes and and bulldozers and engines. Amazing structures were built by people that understood leverage and mechanical advantage and what certain tools could offer and how they can be utilized. That's how these amazing structures that even today seem impossible were built and stood the test of time is because since certain types of individuals, professionals understand how to provide leverage an advantage in the financial world leverage an advantage does exist thereto as as planners. A competent, qualified, experienced planner can understand the complex tools that can provide you a financial advantage, and make your money work with leverage. How do we take this money that we don't want to lose and also make it grow right will that's that seems like two different different goals.

Most people think know I gotta choose between one or the other. I can either keep it safe. But they are stuck in a groats in the sit in the bank and gather dust or I can try to grow it, but it's not gonna be safe. I risk losing some of it there is a middle ground.

There are certain tools that can provide you, I'll say the best of both worlds, but you have to have reasonable expectations right it's not going to provide you 100% of the growth +100% of the safety there. There is an allocation in the spectrum in between. It's not all the way to one end of the pendulum and then all the way to the other professionals understand the tools that are available. There's plenty tools out there that provide a downside hedge. So long as the market doesn't fall more than a certain amount your principal is protected. Plus you get a certain interest rate. In the meantime, and in that interest rate can be pretty attractive compared to the 1% or less. That's being offered in in bank checking and savings accounts these days. And then there's options and say hey if you sacrifice your liquidity for a certain period of time three years or five years you you recognize you're not going to need this money we can get growth and have some safety but there's always trade-offs. Every option has some pros and some cons there.

There are options that can provide for a death benefit if legacy is your concern, leaving behind your something for your family tax-free tax advantage. Oh, but also it can be multipurpose that if you have big expenses that come up during your lifetime due to medical circumstances, it can be used for that as well. At no additional cost. Right.

That's what leverage is about as understanding the tools that are available so the financial world.

Perhaps talking to a professional who has access to the tools to understand how to use the tools can give you more of the results that you're looking for.

And that's why Rochon planning.

We offer the optimized retirement plan with no cost, no obligation so you can get a better handle for what some of those tools are now do we just throw the tools out there hear the tools we know we gotta have an understanding of your goals and your specific situation, and then we can find which tool is most appropriate for so again if you like that plan. If you'd like to sit down, have a conversation get that plan in your hands. No cost no obligation give us a call 919-300-5886 919-300-5886. You can go online rich on rich on you're welcome to email me would love to hear from you. In fact, go online you give us a call. You email me from today's program out send out a free copy of my book and get a physical paper book a paperback book or I can send you the digital version whichever way you would prefer.

Understanding your investment options.

Now the cover of the subtitle is the most and originally it was important that got scratched through and over top of it said boring them for the most boring book you'll read this year.

This is not a page turner. It all all all seriousness I tell people it is the cure for insomnia a little bit of a joke there.

When I say it, but I do seriously tell people that, and it probably is for folks you having trouble sleeping, you may just have your cure affirmed the question about but if you call if you visit the website if you email from today show. Not only can we talk about getting this optimized retirement plans in your hands, which I think that the timing is now to do the markets hovering at all-time highs has been for quite some time.

We been able to say that for about six, seven years now it's gone up up up up up. But the more it's gone up. Probably the more risk you're taking in your portfolio, and the more were overdue for some type of correction I think were there things are things are looking a little precarious.

Now is the time to to look at planning for that also, with taxes and the discussion about what's going to happen into the future with taxes again. Now is the time to do some serious careful planning around that if you have a if you're if you're if you're earning money and putting it away for retirement right now or if you've already got a dollar or more in tax-deferred retirement accounts. Now is the time to look at tax planning and the way that our tax system works. The more money you have, the more costly. Ignoring this issue will be for you.

The more costly. Ignoring this issue will be for you and it's more than just proportional because we have a progressive tax system so the more money you have, the more costly delaying and deferring taxes will be for you. As of now is the time to look at that there there is an option for literally every person listening on how to manage and control taxes into the future and how to pay less now is not the same option for every person listening. But there is an option for every person listening on how to manage and pay less in taxes over your lifetime. It's not what you make is what you keep, and taxes are the biggest thing standing in the middle and I am a Dave Ramsey Smart investor Pro. I love it when people say I followed Dave.

I am debt-free. I even paid off the mortgage on my house so that's fantastic.

And then we take a look at their retirement accounts and I I say I'm sorry Mr. and Mrs. Jones are not as debt-free as you think this we mean we paid off all our debts, no car payments no credit card bills even got the mortgage on yet but you've deferred and delayed paying the IRS.

They view that as a debt. If you don't believe me, if you wait long enough. They're going to begin collecting minimum payments because that's money that you owe them, and your bill the longer it sits in your side of the of the ledger. The longer you delay paying that bill. The more you owe them if you think you think your goal with your account is growth. What would you like your money to do what I like to go is what everybody says the goal with your account is growth. Guess what the IRS once your account to grow to because then you pay more in taxes, and especially if taxes go up into the future you will be paying significantly more and you have a larger balance because of our progressive tax system $50,000 in income isn't taxed like $100,000 income isn't taxed like $200,000 isn't taxed like $1 million. The more money you have in that account. The larger your tax bill will be and not just a proportional amount, a higher percentage will be collected and is due and owed to the IRS so we need to do some careful tax planning for you if that perjury or faith that major maybe think about what what is the option for me to control that tax liability and lower it then give us a call. That's what the optimized retirement plan is all about. 919-300-5886 919-300-5886 I have sat down with people. Many many times and literally projected out exactly what that tax bill would look like if they default to the IRS's plan work or we can put in your own scenarios.

But we look at the account balance today and the amount that they'll pay in taxes over the next 25 or 30 years is more then today's account balance that's unnerving for a lot of folks, and if you're concerned that might be the case for you. By the way that's that's sort of given taxes as they stand today if taxes go up in the future could be even more, we need to look at that now is the time to do some careful planning folks.

If you like and optimize retirement plan.

We sit down and help you maximize your available sources of income, Social Security will run the tools and the calculators in the reports and the analysis for you. That's part of the plan. If you like to look at that tax liability understand if there are ways that you can pay less strategies that you can implement to provide you leverage for your money. Be efficient and pay less in taxes the phone. Give us a call say I want that optimized retirement plan 919-300-5886 919-300-5886 I am Peter Sean this is planning matters radio planning matters radio the content of this radio show is provided for informational is not a solicitation or recommendation of any investment strategy you are encouraged to think investment tax or legal advice from an independent professional advisor. Any investment and/or investment strategies mentioned involve risk and possible loss of principal by three services offered through virtual capital management is a registered investment advisor. Fiduciary duty extends only to investment advisory advice does not extend to other activities such as insurance or broker-dealer services advisory clients are charged a quarterly fever as a commandment belligerent product pay a commission which may result in a conflict of interest regarding compensation

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