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January 2, 2021 2:00 am
This week on the Financial Safari Coach Pete D'Arruda dives into
If you want more information call 800-661-7383 or text PLAN to 21-000.
January 2021 feet this week on the Safari talk about the keys to successful retirement through five very important.
Each one visited a lot with a lot knowledge in your dreams, listening to the show.
Getting familiar with the spiky Peter Diamandis is a founder one space that talked about his laws of the persistent and passionate mine, and I can incorporate this into the financial world that much more this week on the financial Safari hi this is Coach Pete and if you've got questions on how to properly structure your assets until retirement income you're in the right place. Welcome to the financial Safari broadcasting from coast to coast financial Safari with your host Coach Pete and his guests were some of the nation's top financial professionals make it their mission to guide investors in the treacherous jungle of the financial world, showing them how to grow their money for their loved ones is a frequent contributor to FOXBusiness network, CNBC, the Wall Street Journal, and many other news outlets become the code speak for their answers. And now you so stick around and find out how to make it through the jungle of the financial world on financial Safari walking into the financial Safari consumer advocate Thomas Lipscomb here with you in studio alongside Morgan Patrick as well as Jennifer Ransdell. Also in studio with us as America's wealth financial and income coach that is Coach Pete Arruda, best-selling author Coach working on your latest release working on for a while. Thomas is next. The next book is going to be a really good book and it should be out this year say that yeah I'm looking for a book on retirement and what people say what you do nothing nobody else might want to do that everyone hinders me because a unary interview might bring time. I need to write what I've already written it.
By the way, but now I don't like the I don't like the way it sounds I'm go back and let it soak the good part is it's already done, but the bad part is I like the way it was done. Refiner fireside. I don't like what I don't like some of things that that's have to go back and yet it was true. A true author always does rewrite yet will I be writing I did rewrite some the other books time on this one. That's a part of something you do on a daily that was in it is helping people rewrite situations that are currently that that seem to be ingrained in stone. Good point there. Thomas yet what we try to do. We don't want to be right too much, but many people we see. Have they have the wrong story from mixing with any nonfiction. In other words, they have a lot and so I always was tough me figure out fiction and nonfiction. I left lots of fiction would be the one that was true in nonfiction be the doctrine notes nonfiction means truth and there's a lot of people that don't have the true nonfiction kind of financial vanity. So what were you talking about when you say that.
What are some things that people run into. They don't seem to be true. The biggest thing that I've seen over my almost 29 years in the financial arena is the fact that have a retirement plan. They think Morgan you have talked about this officer to Jennifer you me to, but they have retirement when they think but there's no income tied to that plan other words, is no guaranteed lifetime income get there told they have a retirement plan and my question is what kind of retirement can have a few retiring and don't know what can income it or if you gonna happen, I get to that point in you been told it is what it is but you're in a rut and you gotta get out of the right hand that just takes more advice and maybe a second lice momentum building good or bad. And so if we fall into the rut. We think that everything's fine, and our broker tells each. Everything's fine, yet you're not asking the right questions. How fine are you in this five very important question. Jeff asked that begin with the W in this one that begins with H that's right yeah yeah we've got who what where when why and how these are all questions that we just ask over two years old five years we did terrible tonight to five why mommy daddy made gets to ask those biting the mind. These are things we forget. When it comes to the financial world. These are the most important questions and help you identify the UFOs you have in your portfolio identified financial objects, you know, we don't like the absolutely not, why, and I think it brings up a very good point.
Did you find a lot of people out there may be I nervous or have some anxiety and don't want to approach the day the 5W's and an H just because they're nervous and not sure where the act exactly they may be going great point. I think people are afraid to get the answer. The afraid of the answer. The going to get a faster question. This is like ice to three dogs that have any dogs right now but unfortunate about past week or from old age and my daughter cried so much and I did to get more I deal with, but you know the dog does with these on the cart with a lever present on the carpet Indiana At present is not absolute. I do not have the present, but they would look away when you get wet because they stay with figure if they can see you get it damn sure I really felt a little sting so if we've like us. We feel as investors or savers or retiring pre-retirees remain retirement if we don't ask questions that answers will appear in the right and also just remember it's it's okay to ask him a lot of people are as astonished as mentioned there there, stuck in a corner there there for a week can't be afraid my death because this is been teaching physics for 42 years of the UNC system and he always would say the dumbest questions are the ones you don't ask you to really make sense, especially in the financial world so just as questions, listen poorly. Let's get those answers. Let's make sure the answers fit what you thought there going to be in. If not with design a plan to get you on the right path.
Thomas next 10 people.
It's $1000 value that will waive our fee to make sure that you understand your plan completely. We can explain what your other planners or brokers are done. We can even call the companies directly get the real answer is not the brochure answers we could do a complete plan that will give you the confidence you can approach retirement under terms of the financial fundamentals intact. The next 10 people do that. No cost or obligation Florida since the number connectors 800-661-7383 800-661-7383 can also text the word plan to 21,000 plan to 21000 now coach talk to me about Peter's laws. Now when I first saw this I thought they were going to be your love is because you are coach Pete Ruta but I you're talking about Peter Diamandis year now there's a movie that I want to enemies with his executive producer of get to spend a lot of time with Peter Diamandis in the LA and San Francisco area households that and we spent time at space X made with the original rocket pretty cool and he promised $10 million. Years ago to the first team they could launch a spaceship and it can orbit the earth twice and land safely and do it again fine because you know the problem with NASA.
A lot of times when the rockets go up most of the rocket comes down in the smash and match up and done right and so the party comes down except the space shuttle we know what happened with double specials of when we can make sure it was reusable it was still here, so he was get a lot of flak for that because people were scared that people try to launch rockets and kill themselves going up to try to get $10 million. The funny thing about this is the domain to go to hesitantly dollars a promise for the spacing and he went around and try to get people to get to give money to a like Richard Branson and then Eli must must finally stepped up and gave him that $10 million. The price to the people who did it. Okay. And so it's it's been a great and he's a great minds.
Great. Gotta talk to spend a great experience talking to, but he's a he's a futurist and now his 23 laws are for life in general, but met when I was looking over his list. He just came out with the Peter's laws. The creed of the persistent passion of mine a lot of time right in to the financial service in which one statistics out to hear them out so you tell me times I give you my number one number one is something wrong you fix it.
Absolutely like number seven without target you miss every time. Let's remember for the benefit of anything can go wrong, fix it, to hell with Murphy never have these laws, you sit around and blame life, or are some not doing something, and then fail. And so, like he always says a citizen around complaining roll your sleeves up and fix it and and again the movie is available on Amazon prime at no cost.
Now when it first came out it was at like seven or eight bucks and now it's free.
You can watch at great time to watch it anytime is good time to watch it, but it's a great movie to watch called the vision here by Peter Diamandis and so but he says that right and in this movie like he says he has really no sympathy for anyone sit around feeling sorry for himself because we we are humans we can we get dust yourself off and get back and do it again. So if you think your plans not right in the financial world. Well, let's fix it.
Let's let's see if it's right not. Maybe it's right maybe don't realize it's right so that you know one of the things we do a lot when people come in off the radio is will sit down with you think your plans bad, will give you stamp of approval say you're planning a great job stay we are because what makes you feel better knowing everything's fine, or wondering if it got a note knowing is good and then we are fiduciary planning team. We will tell you if you have a good plan based on what you tell us you want that plan to be doing in us a very important when folks if you don't know what a fiduciary as we have a great guide that explains that you get your hands on that by giving us a call at 800-661-7383 or texting the word plan to 21,000. But what you're talking about here. Coach is vitally important was looking at the list here and point number. By the way, Thomas is called the seven reasons why successful investors choose fiduciaries is that this is a great booklet and I got it breaks down seven reasons you might not be paying attention are seven things you might not have realized you should be asking for in your planner and so I think this is worth his weight in gold. It is absolutely get your hands on just by calling 800-661-7383 800-661-7383 or text the word plan to 21,000 plan to 21000 that Jennifer Metz number seven. Let's go. Because let's with her Elliott. She had said something early than ever sentences without a target, you miss that every time.
That's why will I talk to a lot of folks who never really had a retirement plan and they don't know if there can be fine return, exactly, and here's why you see this is a big big glaring weakness in most people's hands for one case, would you agree that that's probably where most people are saving for retirement right absolutely.
What is the most glaring weakness or missing object in the 401(k). Now I know you don't have any choices.
A lot of times what's the most glaring thing that is not there. The coach Pete notices every time he sees a statement from 401(k) what it's what were talking right now lifetime income lifetime Thomas lifetime income because the problematic. In time I will know lifetime income is missing and so what do you look at this lump sum will coach. How do we get we know what income we get there, they can be there for a lifetime. And so I we say in our G PI index growth protection income. We did have growth will not be the money that's 401(k)'s growing but the problem 401(k) it.
It is not protected because it might go down enough unless you have unless you take the ultra safe option which is crazy because you gonna lose money safely. We only get one or 2% interest and inflation three or four ants and we need to have that lifetime income we need know what it will be so we can basically translate for you based on what your balance in your 401(k) is what got income you get in next year, five years now, all with your life. It's good to know what kind income to get it us and so many of you listening probably have 401(k)s that are often 401(k)s reality, not at the company where you left it behind you don't know what to do with your free to pay tax on it to take it out and pay tax on it, you don't really want to roll it into your new plan could you not happy with this, the options in your new plan right what we recommend is rolling it into your own super IRA and I have a whole bunch of choices it's tax-free rollover. You don't touch it, you don't pay tax on it, very, very important. And if you're over 59 1/2 you should be wondering and curious about retirement right now with your 401(k) balance you have most of you are entitled to what's called an in-service distribution we can roll your money tax-free into your own super IRA again where we can get lifetime income we can have that growth still grow it be protected with the growth of the protectors want to get growth will give it back. That's good and you lifetime income subject curious about this Thomas would open the phone lines up now. If you have at least 200,000 and that 401(k) or were somewhere dedicated to retirement, but you don't have an income plan you want to see at least what you could get income wise and now we can do that for you when to give your total retirement plan we can review everything that's going on right now to make sure you don't have too many financial termites in your portfolio.
That's risk these expenses you don't need to paying many times to put together for you your very own fiduciary, financial and retirement plan strategies do work best for those of you with over million. But as long as you have 200,000 dedicated retirement dollars with Mike that offer right now. The next and people write a number to call is 800-661-7383 800-661-7383. You can also text the word plan to 21,000 plan to 21,000.
Finally, someone's offering retirees and pre-retiree some true common sense and straight talk. So sit down with them, get that retirement roadmap put together have coach Pete and the team translate that complex financial world into very clear instructions. All you have to do is give us a call 800-661-7383 800-661-7383 or just text the word plan to 21,000 plan to 21,000 yeah let's get back with her continue to go through some these laws but more important than the talk about the five keys to successful retirement back into the financial Safari consumer advocate Thomas Lipscomb here in studio alongside Morgan Patrick Jennifer Ransdell and America's wealth financial and income coach coach Pete DeRidder. Welcome back and you guys well. Good show. Check. Let's talk a little bit about a week we've ignored in the first segment, the land was your New Year's.
I tell you I am so happy that 20/20 is victory dance is all over you sure you want to listen to your not. Let's not try that one last goodbye to this kind over Cornelius 30 was used to it and see about that and see him wearing a mask on the strange year word was a stranger and, best of times worse as time started out pretty good.
If you're as if you are a Kansas City cheese sandwich on not start a real good they won the Super Bowl sure yeah and fury LA Lakers fan you had that you won the NBA championship did not even have an NCAA championship in basketball, which is crazy. You never know what can happen in future though you don't. So Jennifer, what you do for New Year's. Well I have a 12-year-old. So we stayed at home and social distance from everybody else and I just watch the ball drop and that was pretty much yet about you organizing fun dinner out downtown safely distance and went up to Raleigh and experienced great nightlife appeared in my secret basically dinner and I headed home and you got is when you get it was over for great nightlife doesn't make white what time if you have three kids with you what you do sparklers think that they burn exactly how we had a good time we had a good time hanging on the backyard sparklers cooking out there and hoping that you can thinking that we just chilled out at home. Jim's pants came by for a while and then they went home sold wearing a mask so you know where my mask homes are never going to not aware of the car either only person I have to when I'm in there with that, like lube or something – or not will be where the NASCO load working right. Thomas let's talk a little bit about one of things we talked about the past is held true diversification fits into a portfolio that we'll talk about that well thought out easily when we delve in a little bit onto some of the important ingredients inside the financial recipe of the safe and secure retirement. Also yelling at about the best cooking on leading cookies. One time my wife and I did before we were wife and husband.
We were dating and we went to her parents house after we put me in college we came. We home came over we can. The parents were there parents met for dinner so we stayed home. We're gonna make some cookies around holiday season to make chocolate chip cookies.
Yeah, we didn't know enough about the difference tween baking soda and baking powder, and we end up with a chocolate chip cookie bread cookies. They were gigantic hopes yeah yeah each one and I like my cooking is nice and crispy.
I like the biter like in the fall apartment I might not want something like soft cookies. I like I like the ones we use a little less flour yeah and use a little less flour, but we use either, I forget which one we use the you have Jennifer your dude cook what we use baking sour or baking powder leaves the wrong one okay and they grew like crazy and I think of the we did look at the flowers in the flower lighter than self rising and I still love go grandma Linda Quincy's back in the day there was a restaurant on Wednesdays they had the big fat yeast rolls yes and I still love these roles but we didn't want Easton or cookies and so that was a fail right there so absolutely what is we look at a recipe so you may think you're following your your financial recipe correctly to get to retirement the baby have one ingredient wrong and I can really throw things off Sir Triplett. Let's talk about that with the classical view.
I guess most most typical Americans on the street would have of diversification.
Well, stocks, bonds, people thought that over and over again. It's been drilled into.
I should ask you, Thomas, was that what you think. I mean yet will I do with everybody. I gather so many people on the daily you see these folks come in with plans and so this is what you're truly seeing those well I'm United that is the assumption, but as it is where soon as well call plan when you have that because it basically is a plan for disaster because you don't have true diversification with all on almost all asset classes.
One of the income you enter, and in life insurance as an asset class.
We need to make sure we have life insurance white as well didn't die right. We to make sure we leave up next of kin at least as good as we work.
They were here shortly will even have a change that goes into a worse echo and that's happened way too many times, but here's a good thing about life insurance and a sunset on the show before the people believe life insurance is changed a lot in the last five years, especially where the rates of gone way down we had gone down because were living longer, so insurance underwriters know that we live longer, therefore, will have to pay as much. The sooner you get in the better they can raise your rates at if you have been in yet. Or like they can raise your quote once you're in your rent if you get a permanent policy. They can never raise your rates and so we indicates this a couple weeks ago somebody came in they said we have this 20 year term is expiring and Ellie want 10 times the amount of premium alarming while because the term you know what term is basically what time does gives you nothing to dine at turn my life because those dies during their life to be given term insurance usually died today after.
But what I hate about this is it's always cheap to get it.
It's a loss leader we going to get you in and once I got you raises rates. When the term expires, and way up like a set 10 times this person so what's the solution. The solution is to lock in locked insurance company and to a low rate with a permanent policy that what's a permanent policy. That's what people say I never heard the word permanent policy well whole life or universal life is also called variable universal life know what what what words coach Pete actually hate that in the dictionary when it's when the dictionary comes into the financial world have been doing this too long. It absolutely is variable very very will need to go up and down. I don't want to say.
That means you could lose your policy might other had that happen to me in the 90s.
He got a policy variable insurance policy didn't talk to his brother Pete. He was in Wisconsin he got it from me stockbroker. By the way, that should've been a warning signal buying buying life insurance was not out and it was a variable universal life and when the market crashed out his policy. He wants to know not only the policy but all the money he put in their consumers over funding it to get better results. Both the cash value wise you know who had the best results. Cash very wise when my brother overfunded his policy. The sound of the gun so you're slow today but yes because who's blouse and whose return refunding yours. Your broker in that case, my brother was funding his brokers policy making that none them down to my brother didn't ask his brother Pete who is a fiduciary who would done the best thing that that the my brother taken advantage of by stockbroker so variable policies.
I don't advise so permanent policy so whole life, universal life know why what I want to even think about life insurance and I'm totally healthy to break the plan yet. I think the best time to think about like shopping.
By the way guys for food when you're not bringing in the hallway conversation is throughout the week you. You advised me that as well. This time to get involved is when you're young that's when the rates work well because you never to be healthier than you were today might think about that and the rates will never be cheaper than cheaper so that were more for let's say that what happens here is once you get that rate, they can never raise your rate the permanent policy. You're in the other would you live 300 and they still have to accept a very small amount even though they know you can die soon and castrate life insurance. What about long-term care. Well, okay, now you're theaters threw a wrench into the equation, but I like this right. When you call it a Segway. Almost, but not what nothing right so long-term care used to be that you have good bio policy, life insurance and long-term care of merged a lot of time and you can get a special life insurance policy and add a living benefit rider on which basically means when you live and you can benefit from your life and try Life insurance just before the people died right for people with after you were hearing more now while your living. You can reach into your death benefit.
Death benefit is the amount that's pretty nice one and use some of the death benefit to pay for your long-term care.
Okay, so if you have a laundry long-term care facility. Let's have a million-dollar life insurance policy can reach endlessly need $100,000 for to pay for lawn care for your region. Take $100,000 on the death benefit. A long-term care plan okay and you won't get healthcare, you region take whatever amount you need to pay for the building people to come your house and take care of you. So it gives you freedom of choice, but also give you freedom knowing that everything can be fun time burden on your family more nuts. The guy know people listening radio right now you are thinking as I know my relative, or I know that he would have a street they went broke the most painful long-term care for Riley or Susie when she went to the long-term care facility. It's okay coach. My family will take care of me.
You think you really wanted to care of know it was bad enough change diapers for it for like when I had a daughter right and change diapers for my parents and no one will do that again people are living longer now we are and so what's not living longer is the knowledge that we display here on the radio saying that people shouldn't look at their life insurance policy. If you don't have the correct one again like we talked about the best time to find out you're in the wrong place is yesterday. The next best time is tomorrow right so Thomas let's do this will do life insurance review for you. It would never want to see if if you have a life insurance policy if it's the right one. And if you're overpaying when the be great to know that get a better policy for less money and now someone has a living benefit, but if you don't have life insurance and want to look at it again. Licenses offer life insurance for 12 of 29 years now and and I do it on a case-by-case basis. Find out what you need and put together policy to make sense for you and yes folks, I've delivered the checks is not a fun time with the family's lot happier than it would've been if I one showing up with a jet like that makes it a little bit more palatable for the family nylon so let's find out. Let's make sure we get that that's another part of the financial plan. Think about you got it. Stocks, bonds, mutual funds, you get even income plan we have no life insurance. You pass away anything and really the life insurance is income plan for your future for your future family because now they can take that money invested in their only complaint to be safer life and so now you can know you can die with peace of mind knowing that everything can be fun right And so if you are when the next 10 people called in that review for you benefit the little green book of life that we give way every now and then it's 101 pages interactive.
In other words, this blanks.
He can feel and ask you questions you put it there if it has everything we could think of that you may have that you've got to tell your family about. And when you pass away and be too late to tell where everything is in the life insurance policy numbers and whereby safe deposit box. All that all these questions are in the book will give let's make the next 20 people. The life insurance review and the little green book of life that and also the golden ticket for your total retirement plan. No cost is over thousand dollar value.
Thomas was open.
His phone lines up right now. You also get three. The books are written, you get to pick when you come in. Don't procrastinate call right now 800-661-7383 800-661-7383 can also text the word plan to 21,000 plan to 21,000.
This is your opportunity to sit down with coach Peter, a member of his team and get a comprehensive retirement review that will show you where you are now, which is important to understand but more than that. We want to reveal a roadmap to get you where you need to be that number against connect 800-661-7383 800-661-7383 or text the word plan to 21,000 plan to 21,060 evermore. If you have enough income to maintain your standard of living all the way through retirement well will go through that and a couple other answers in the five keys to success retirement back into the financial Safari consumer advocate Thomas Lipscomb here in Judeo alongside Morgan Patrick Jennifer Ransdell in America's all financial and income coach coach Peter Ruta have fantastic conversation today talking about a five keys to a successful retirement but I want but in here coach as I want you to do something to talk about this and not yet only but one I want to talk about financial pizza to and want to talk about how people listening how you guys out there listening can hear your own voice on the radio asking questions. Maybe if you decide not to the Thomas tone that we can do all this absolutely mines are melting right now so financial pizza licit you can get all of the latest financial tips and tricks delivered from some of the best advisors around the country and 30 minutes or less is a great podcast available on all the great sites out there with her example Google's modify, you name it we are on their search for financial pizza financial pizza. You can also ask your device, Alexis Erie, whoever whoever it may be if they can understand you right it's also add that we are not affiliated with Domino's even though we still 30 minutes or less so that we have no seriously great podcast financial pizza. You can also just go to financial pizza.com and check it out there. The other thing yeah get your students answer. So of course is going to the show in order to get your own financial questions answered. Sometimes it's hard to give 800-number call but we have another great way to get in touch with us to ask your own question and that's to head over to financial Safari.com there's a button over there on the right-hand side of screen works on your mobile device as well as your computer, you can record your own question and get it over to us here in the studio and we can make you a radiologist. There was no there really is a great way to helps us personalize the show.
What you guys hear your own questions out there on Aaron yeah it was some talk about Reichert is important I think to to not be shy and if you question asking if you don't want to hear your voice will type it in there will will answer it privately. If you want to maybe have a question on their way. If you want us to say your name we will first name if not we will want to bring something up what we talk about the sometimes and it is this is deftly, shifting gears that are working with someone who looks at everything. So there I I know that this world can be a little bit crazy.
There are a lot of guys who may focus on life insurance or focus only on tax planning or focus only on this or that. Tell me how you are different than these people and house important work with someone who is at least collaborating when setting up financial plan. Well, if all you have is a hammer, Thomas, everything looks like a nail.
Yes, put it that way. So I have a complete toolbox available to me in the financial well-being independently.
The fiduciary planning team.
We we have to find out what makes you tick and what you wanted do in the future there will never want to take this possible or probable if it is then, after we build a plan. Then and only then we go out look for the products to put in that plan you.
In other words, a lot of financial folks out there. They have one product they want to sell everybody when you come in and make it fit the real commercial with the two monkeys in a muffler shop and the muffler was not the right left. How good is that that's not good. Driving on the road something to fall off and we don't want anything falling off your retirement income plan benefit. We want increasing income all the way through retirement what growth we don't need the money we want have that protection of our growth. In other words, with once we get again. What fun is it to give it backwards on that date and then let's have lifetime income. We can never outlive and we call that financial Philip and that is the most vital part of a total financial and retirement plan is having income that's going to come regardless of what happens in the market regardless if your balance goes to zero. I said that you still get income for the rest your wife and for that your spouse's life if it set up correctly and we set up both spouses getting lifetime income fund Morgan to have one income in the life of a spouse and you will not have lifetime and not at all paint such a great picture to think about it if you hired a handyman to come work at the house and had 70 different projects and he only had maybe one point of view or one hammer that hammer and say mean that you need you need that fold bring as much knowledge as much education as you can and solve this problem dragging the window with a hammer and let's talk about some of those things that you mentioned there truly impact person that you're working with that you're helping out a set the retirement for so independent. How does that affect the person at the end of the day. The most important part of deal with someone is independent of the one on the defendants. Of course, and then say good things about it, but I quote I could be captive with one company and that would be good for anybody else got myself in my opinion, how can I call myself a fiduciary which results must be doing right for you all the time if only have one company's products. Think about right and so I will you know where litigious society. I can see down the road where someone says to somebody who claimed to be doing the best for him that but they were with one company. You really didn't do the best ramp suing you right right at the top half of the 401(k) will consult with you if you don't get enough 401(k) options people been suing the company because they didn't get enough good 401(k) which makes a lot of sense that we think about all the growth you lost over 30 years. He could have had more choice right now that we got what we did a little fee report inside a box that were to get a give way folks give way little box set on the seven financial blind spot that there was times we had little fee worksheet and there were which is you have and we also the 401(k) survival box. It will show you how much just 1% in fees more in account can cost you over 30 years and it could be upwards of hundreds of thousands of dollars one yeah yeah it's crazy absolutely.
Give one example in their pick one big number you get the chart object right so let's begin with $200,000 at the beginning of the.
A 6% interest kind of easy interest-rate easy number to start with rain and every account and be the same percent interest $200,000, exactly, exactly. So let's say that you have no fees, which is of course never get jealous and never if you not looking around the right was sure sure so over the course of 30 years with those rates that we indicated you would be up to $1,148,698.23 can isolate that is absolutely very nice thing. Now let's just go up to 1% fee rate. So at that point after 30 years instead of the 1.15 million that you would've had your down to 863,000. The same interest rate the same starting amount the same, compounding yes let out but just 1% more in fees 1% that the further was he a further 2% so mortgage have any idea what that maybe I day that okay so we went with no with no fee. 1.15 right so with 1% fee was down 863,000 at a 2% fee. We have gone down to $647,000 $931 so and that's 2% figure 2% for others. Other than some fees that are even more than that this 3% fees are there are and and this is going to cut those around thousand dollars on ratings and growth.
What is that there we go after 30 years, with 3% annual fee for hundred and 84,000 so is 400 and some but as above that level with 3% please so 3% fees was 484,000 and 0% fees 1.15 million. That's we want to be right. There is absolutely if you want to see this sheet you can see get a copy. This admit admit admit recommend getting copy the whole box set $300 value when you give that away.
Later on here on the segment folks and they tend to get up and ready to write down how you can do that no doubt that Wade runs coming up pretty quickly.
Yet we could check the clock every now let's let's do what's let's we talked about it, but it's important to get a plan done or least have a plan review with a fiduciary planning team and we go through something we call our strategic development process. Morgan open the lines up for the next 20 people to have their own done this over thousand dollar value. We do requires at least 1000 dedicated retirement is that we can bite my grandma. I say try to make chicken salad. If you have a chicken little chicken but our strategies do work best for those of you with over million dollars dedicated to retirement, but want to help everybody we can if you're around 200,000. Maybe Lester will still help you Thomas that when it's not. Not a big bold line day or so weeks want your people are being serious right so if you'd if you are there.
What what first thing will do an extra day development processes will review your tax returns to uncover long-term tax issues that may be festering in your accounts like may be happening in your IRA accounts or capital gains.
Maybe a bit too much capital gains tax and Social Security taxes will go through that as well also help you file for your Social Security. If you haven't done that yet. We have print out when you trade the best options to choose and establish a retirement income goal. That's money needed to cover the cost of enjoying your lifestyle all the way through retirement. In other words, what good is it to retire. Bill happy have the retirement party get home and realize you can't afford to retire so we need to make sure not only beyond afford the necessities, but be able to afford the fun things is what good is retirement if not, that's why you see the little picture of the things uncle Jed back in the Beverly hillbilly day soon I had plenty money to sit on the bench, whittling all the time right want that happen for you to analyze your current investments to establish the real cost and fees in the calculated risk exposure level. Now the real cost and fees we call financial termite you paid too much in fees taken too much risk. Paying too much commissions or any commissions will identify that for you and will also look for those UFOs. Unidentified financial objects that may be flying your portfolio really know what they are. If you don't know what they are. Just so it's probably not good for you, real estate investment trust in my for me when I think about that and also your calculated risk exposure level based on the risk you're taking right now. What would happen if the market didn't do what we thought would do.
Sure and Thomas never happened that way. With the market didn't do what we thought God surely know that we believe we know what can happen.
We can feel the pain ahead of time. We can make sure to adjust things we don't feel that pain the future determine the percentage of assets needed to protect your future income needs. Considering taxes and inflation of the design. A GPI plan growth protection income plan which will give you streams of income that will increase your income over your lifetime, not decreased because we do have taxes and inflation you want to going away and make sure to have a plan that combats that ahead of time and addresses those issues and and design the plan that counteracts with the battening.
So again the next 20 people call you get that you get that box that we talked about that fee worksheet which the lightning and also DVDs, workbooks, guidebooks, and three of the books that I've written on what you choose which ones you want to folks is a fantastic offer. If if you ask maybe get a GPI growth protection income T-shirt when you come in as well. Fantastic. The number to call to take advantage of 800-661-7383 800-661-7383 or text plan to 21,000 plan to 21000.
The first step is to sit down with a financial coach so something that were talking about here resonates with you and you feel the need to get that second opinion that were talking about, or if you just want to make sure your plan really is aligned with your goals and that very important risk tolerance. The coach talking about call on and take advantage of this great opportunity to not just get a plan in place. But to get educated as well. With these great resources. The number 800-661-7383 800-661-7383 or text plan to 21,000 plan to 21000 that we come back we really are to cover the five keys to successful retirement, domiciled standard label get laid in the financials of equipment moving fast-moving show and OSA everything we could seem like that.
We had a really good discussion this week on a different things it did will affect your retirement planning in your I realize we don't hit on life insurance about some life insurance special life insurance vehicles if you're joining us late and you didn't get to hear the show were on a lot of different stations but were on permanently.
24 73 under 65 days a week.
We Thomas, we absolutely are and that is through the financial Safari podcast.
You can find it on Apple, Google's bona fide audible Amazon, you name it we are there. Obviously of course coach as well as financial support, that's why was go that is a great way as so not only do we have the podcast out there but if you want to see what coach looks like. We also have some of our television episodes and other short form video coming want to make sure you're ready for the kids of the room to everybody is another site that we love and we didn't talk about today yet will course financial pizzas a way to get financial shows all around the nation consolidated 30 minutes or less each week we take a bunch of different shows and consolidate the good points in the 30 minutes or less and people love that show again available everywhere, podcast, or pounding that little things listening to you in living room and but the most important things financial pizza.com. We got some great mousepad giveaway next week on it to so financial pizza.com. If you go to financial pizza and you there. You can email us from there and say I'm here and I will mousepad will send one they got us.
Financially that financial pizza.com now that their cool looking arcade of the rain really I great quality. Another site of the site that has load of information they would call it a cornucopia of information is Pete on demand.com PET on demand.com Thomas your real proud that you built that nothing folks with the going to get want to go there happily very proud of the site. This is pretty much access to everything that you've almost have or develop so folks listing this is access to coach Pete's best-selling books. We have multiple video series available on the site as well as short form video series with some of the advisors here and in addition to that what we have guides we have box sets we have a it's absolutely incredible. You need to go there and check it out. I couldn't even get into describe it all and the time we have your radio yeah it's it's well I like the videos of workbooks and guidebooks. The audiobooks we can get you can go to Amazon and pay for Moylan go they are getting free.
Go Johnny is a financial guy have to go get them for you. My site a lot a little bit that I like to help people is also a workbook guide series 7 baby steps on yes I mean in interviews with Sally Sullenberger, Barbara Corcoran, a bunch of great interviews. There any money is passed away. Now Charlie Daniels is best to let you know when interviewing my favorite to people of ever talk to three Chris Berman okay before Dick Vitale waved at Dick Vitale documentary coming up and she is awesome. What a great movie is gonna be and I said and that that the two top ones that have ever interviewed, though they're both vastly Charlie Daniels and any money. Great people, great people, so life happens doesn't it does so may not enjoy every day want to make sure were were doing things that are of value every day how we do that well.
Pete on demand feels the best way tomorrow that's I will still be there and I find Jeff Taylor and I get so sure it's a I do like her to where you go, Robert Graham got Jesus into my favorite ones. Now when I'm on the Thomas when we go TV when I'm on my Carolina today on CBS 17 every week who supplies my sense that I am going to fill the square. Joseph Joseph of the did I do love of my love. I just could recall the names that I think fail epic fail. You have the right now let's get into the five keys successful retired successful retirement one is no bike messenger is number one key number one is shifting your financial perspective. This is very important folks because we didn't know, I know what happens because receives 24 hours seven days a week, financial stations, who were telling you should invest invest investiture by this.buy that stock and in sometimes it works and and other times it doesn't work too good, doesn't we hear what I would so the perspective though. We need this shift from accumulating money to distributing money to ourselves. So accumulating, we know we want to make as much we get right.
Mr. Holland Gilligan's Island Avenue. The better hot yeah they were still one thing I think that that now how do we do that because we have these 401(k) plans and it says nothing about we talk about his early show says nothing about lifetime income exactly it'll show you the accumulation number, which is the hopefully good numbers for growing hopefully growing right and good for a lot of people.
But what good is it to have growth.
If you have no plan for income and I would say start writing. I haven't said it lately. Mom say no right now you are not into your out salicylate project is great gain and Apple Apple split last year and a great gain in their initial yeah you got a great gain in their but you have no profit, yet we may not get this to get a green number on my statement will you're not up and tear out.
As you know what I've seen seen green trying to read over the year, only absolutely all you have to do is go to Vegas and walk walk through the casino and what somebody with a big stack of chips and they come back by Willow later they'll have an extended gently with a big frown right now it's all take a frown for $10,000 to go to 10,000 is a friend for you to be very careful. We have to make sure that we know what kind of income we can get from a portion of the money we have put aside coach bestow me to take all my money and put it over here know I'm saying let's find out what kind of income you going to need to retirement without limit more for inflation. And let's take that money in a lump sum and put an income generating plant and let's leave the rest of the money word is we call that core and explore the core money needs to be there did need to be no guesswork, no games, no gimmicks. You have growth that protected right to lock in the growth of net it needs to not go back down and then when you decide again when you decide very very important to activate this, you get a lifetime income you will never let out with your spouse whenever out with. We call this financial Philip strategy this the most important strategy I think in the financial world it's overlooked under talked about is taking lump sums and translating them to lifetime income folks, you know, you think about it you see in your lump sums you're wondering were you thinking maybe all I know how to do this when I retire out to get whatever I want and I'll be fine will into the market doesn't go right, especially that money is tied to the market. So there are ways we can isolate yourself from that keeps the money in the market but also have lifetime income you can never outlive if there was a way to have that piece of mind always to retirement and also keeps the money in the stock market when you want to hear about you right now. We got it out and that's why want to give you the opportunity to call 800-661-7383 so that you can learn more as well.
800-661-7383 or text word plan to 21,000 plan to 21,000. You have a lot of people I think are shocked when they hear about this because they have no idea did they assume to to get some sort of safe, stable income you you go to the traditional the bond or whatever may be in your looking at these abysmal rate, but there really great ways out there to be a will to get this guaranteed income that you're talking about will not necessarily sacrificing huge points as many would you know I'm talking about this because we pulled up the statistics right now. Your lovely statistic about like a government agency that talks to people and looks at it, sure. So for every hundred people they talk to now instead of me giving you answers and ask questions. My dad mowed me right so what do you think the numbers were to guess at the numbers of what what you think of 100 people. How many people are financially independent.
In other words, they can retire whenever they want and the not worried about anything because I got plenty money for the rest of your life the matter even if an asteroid gets her health numbers below and behind Thomas yeah I was going below as well. I think I think people are to be surprised how low this I was I was right. I will get a good guess but of 6%.
Only 6%. Only 600 people were financially dependent and then right so then it was the next category need to work part time. So what funds retirement gift work part-time.
If you like to work. They were dating a spouse to like seen the general time of an option never set forth those leading to 40% of folks would have a hard time. So now up to 46 work with 46% of them within the last category is is pretty funny and it really gets almost over 56% of people are unable to retired all people right there yeah 60% of people like Henri more than 60% are not even a lamp to or able to retire at all because they don't have one in heaven.
Lump sum big enough to translate income or they don't have an income when they haven't pursued the income planning strategy so that number can change we can quit my job is to attack that number and get that number as low as possible. The I want to see more people able to retire financially dependent and at work at least get you from not being able to retired all to be able retire but still haven't worked part-time baby steps and lived in the now. I mean, we had a candy bag. It is called now or later discovered a candy mindset.
Yeah, Alyssa, I don't know well again because people look at these lump sums and will rule by the lump sums in the media to expect that to be everything we need and we get to retirement would get today's response retire. We figure out that we don't have what we need is a very high it is like your shocked about the let's talk about Silas talk about adjustment was talk about timeline so so if if someone wants to retire at 60 to 65 years old.
Obviously, there are optimal and premium times, we can begin to really look at this, but yet talk to me about this, but what can people that love to run a ton time as you want to make sure the people get yet there's there's ways you need to deal with a plaintiff understands planning and I'm retirement income, certified professional from American College is a designation of good designation very hard 13 proctored exams that three big test yes and three big classes, but we need to make sure that we have let the lifetime income put inside so in our ICP retirement income certified professional Barry I think you need to deal with someone who and who has the knowledge about retirement planning. If you want to retire and have a plan. So let's do this. If you are when the next 10 people call will put together for you your very own retirement plan that encompasses everything we talked about today from the court explore. That means making sure some of your money is safe and growing and giving lifetime income taken rest of the money and exploring the market. If you'd like, and then we also do a total retirement plan for you will put together that financial Philip strategy will help identify UFOs in your current plan that's unidentified financial objects, and most of the time that I've seen is they don't need to be in your portfolio anyway and they usually are loaded with financial termites is there too much risk to many fees and too much commission, have your money and I would say who's retire you funding your sugar brokers with make sure you are in control and so let's start the let's start the phone lines open up right now with make sure people also get this box at the five keys to success retirement that this was what was starting talk to now begin to give that box that's got workbooks, guidebooks, DVDs, good discussions about why everything makes sense and why the five points or something you are you will need in every single one your portfolio so Thomas the next 20 people call right now the get that as well as the three books at that I've written and the video on retirement right and a number to call 800-661-7383 800-661-7383 or text plan to 21,000 plan to 21,000.
This is your opportunity to sit down with coach Peter, a member of the team get on the right track. As you head into retirement, and in addition to that, as Cook said we want to enable you educate you through our five keys to a successful retirement box that covers a lot of great topics that we've been discussing here on the show including long-term care, how to manage health risks how to truly have a safe and guaranteed income and how to switch that mindset from accumulation to distribution. Just a few things that we talked about in their go-ahead: in reserve yours today 800-661-7383 800-661-7383 or text the word plan to 21,000 plan to 21000, this time working with Jennifer Thomason for purposes only and is not investment information to be reliable is the energy of information is thoroughly specific details of your income planning management is provided by Equus capital management necklace is an SEC registered investment advisor located in San Raphael California investment advice by capital financial advisors group, LLC, a North Carolina registered investment Mizer insurance advice given by capital financial insurance North Carolina licensed insurance agency. See