Episode Transcript
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Speaker 1 (00:00):
Hello, everybody, Welcome to the Greg Hicks Show. We're so
glad you tuned in today for another hour of just
mind boggling information. We're good at that, right guys. I'm
here with Wanda Cooper and bo Nicholson. We're all financial
advisors BOE and our CFPS with a small but vastly
cool business called Financial Resource Management. And we are in
(00:23):
the Raleigh area with our main office and also our
fabulous smaller office in Atlantic Beach, North Carolina. Welcome to
North Carolina. All you knew people moving in. We know
you're coming in because we get phone calls from you.
But anyway, just to give you a quick summary of
what we are. We are financial advisors. We do a
lot of work with individual people, helping them reach their
(00:47):
goals and helping them control things. And this last week
or two it's been out of control things that are
causing us to be more focused on being in control.
We're going to talk about that today. But first of all,
we always like to kick off. If you're a regular
listener to our show, you know the first segment is
(01:07):
about the news and what's affecting us and particularly our
financial life and thinking and so forth, and then we
always hone in on a very specific topic for the second, third,
and fourth segment of The Great Hicks Show. Today is
a really interesting topic that most people, off the top
of their head think they know a lot about, but
(01:30):
when we get into it, they realize they don't know
as much as they thought. And that is social security
and how it works. It seems so simple on paper
until you try to do it. But we're going to
get into that later. I just want to read. I
thought a way to kick off today's show, guys. So
I've got the headlines of the Wall Street Journal on Thursday,
(01:50):
just a couple of days ago. Here it is Trump backtracks,
pauses many tariffs. Second headline, stock roars back with the
five hundred climbing nine point five percent. Third headline on
page one China still in crosshairs, built trade war arsenal,
(02:11):
and then the bottom right says, of all things, you know,
put this in your hat. North Korea learns in Ukrainian combat.
There's been eight thousand Koreans killed fighting for Russia in Ukraine.
Just throw that in the back of your head. And then,
of all things, you can't make this up. The last
(02:34):
headline on page one are e bikes electronic bikes a
godsend for paving the road to perdition? And then the
subheadline is, as the bike spread in the Ohio Amish country,
so does the fear they will undermine their values because
(02:54):
remember they ride horses and buggies and it's illegal. They
may go to hell, perhaps drive a car, but e
bikes is the compromise. So now this Amish city in Ohio,
everybody's riding e bikes everywhere. Good for that, that's okay.
Find just don't get in that car now.
Speaker 2 (03:12):
I find it interesting that Trump gets credited with the
fall of the market, but he never gets credited with
the upside of the market. And it's interesting too. I
saw a big, old article in the Wall Street Journal,
avoid temptation of checking your four oh one.
Speaker 1 (03:28):
K, the temptation.
Speaker 3 (03:30):
That's the best advice for this week exactly.
Speaker 2 (03:33):
So I thought that was It was kind of a
big article. It wasn't like a little section avoid temptation
of checking your four one K. But remember when you've
got a four to one K. My sister called me
three times this week about her four one K, and
I said, stop looking at it. You're putting in money right,
and she said yes. I said, within you're buying load,
stop looking at it. So today I get a call,
(03:55):
how can I increase my four one k? So you
know the bottom line, don't micromanage it at this point,
Marcus go up, Marcus go down. But if you're putting
money in, it's a good thing. Now, if you've got
an old four to one k that you've never rolled over,
I don't find as much sympathy for you, because sometimes
if you leave a four to one k in place,
(04:17):
you don't have the access to everything that's out there,
and you could be taking advantage of a better growing
market if you diversify that. So give us a call
nine one nine A five six nineteen sixty eight. If
you follow that path of the person that's never met
with anyone to discuss your your financial picture, we'd love
to talk to you.
Speaker 3 (04:37):
Yeah. And I mean just to expand on this week,
because what a what a week in the markets? I
think was it? Tuesday was the largest swing. Let me
pull this stat up really quick, the S and P's
biggest gains since World War Two. April ninth, which was Wednesday,
was the third largest gain in a single day. Nine
(05:00):
point five to two percent that we've had since World
War Two. That's a long time. And that's because Trump
announced the ninety day pause on the tariffs, which effectively
means more uncertainty. What is the market not like? The
market doesn't like uncertainty. But one thing that is that
has become certain in this pause is that this was
ninety nine percent about China. Previously we thought it was
maybe ninety percent about China, but this is one hundred percent.
(05:22):
He is gunning for China, and he announced a pause
on everybody who's been willing to negotiate except for China,
because they're continuing to play hardball. And I want to
expand on that just a little bit because remember Trump
debatable on how he did his first term. He did
all right, but one thing he did very well was China.
He had China ready to cave on a number of
(05:44):
trade items in the fourth quarter of twenty nineteen, and
then COVID magically happened, right and so right, you can
let your mind go where your mind goes on that.
But he's back in the saddle and he's targeting China
once again. Well, China is at the bottom kind of
their recession. They had a big real estate situation like
we did in two thousand and eight. So from that standpoint,
(06:06):
we are holding a lot of the cards. However, speaking
of holding, China owns most of our debt, most of
our ten year treasuries. China also owns majority of our
mortgage backed securities. And what happened this past week is
the long term interest rates went way down because there
was this chance of a recession and everybody thought, Okay,
interest rates are gonna come down. The US is going
(06:28):
to cut rates if we go into a recession. It
looks like we're going into a recession. That was the
start of this week. Well, then what happens is China
dumps a lot of our ten year treasuries. And you
don't have to understand the economics behind it. All you
need to know is that when you sell a lot
of ten year treasuries on the market, and China has
trillions of dollars worth, it causes interest rates to go up.
They only sold the tip of the iceberg. If they
(06:48):
wanted to wreck our economy, they would sell all of
the ten year treasuries, they would sell all of the
mortgage backed securities. It would make our economy from an
interest rate perspective, very unstable. The American people would lose confidence,
and so it just it's interesting to me. People say that,
you know, this is like watching a reality show on
the grands on the Grand Stage, and I kind of agree,
because you have I would say the three most prideful
(07:11):
leaders in the in the world are putin Shijing Ping
in China, and Donald Trump, and two out of three
of those right now are in a you know what
contest with the global economy and the balance. So it'll
be interesting to see what happens. The best advice I
can give you is not to listen to the pundits
who are calling for a sixty percent chance of a
recession forty percent chance. I'll remind you that Bloomberg called
(07:35):
for one hundred percent chance of a recession at the
end of twenty twenty two. They were wrong. They put
one hundred percent on the line. They were wrong about it.
The best thing that you can do is meet with
an advisor, discuss your situation objectively, make a sound plan,
and stick to it. Between any market our number nine
one nine eighty five six one nine six eight is
a great place to start.
Speaker 1 (07:54):
And the good news about our population is most people
pay no attention to this. So the people in our
audience do and that's why we're going to talk about
more about this stuff today as well as looking at
something that you can depend on, but you really can't
depend on self security. So with that little teaser, we'll
take a bak. Come back for the second segment. Stay tuned,
(08:17):
Welcome back to the second segment of the Greg Hicks Show.
Just want to remind you that we're on the air
in Raleigh area, Raleigh, North Carolina, and Atlantic Beach on
the weekend Saturday, two o'clock Sunday two o'clock in the
Raleigh market, as well as at the beach area that
is the Crystal Coast in Moorhead City, Atlantic Beach. We're
there on seven am Saturday and three pm Sunday afternoon.
(08:39):
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Show and you got podcasts all over the place. A
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ways to hear shows on a topic that maybe you're
interested in but you just haven't heard us yet. Usually
our shows are archived back about fifty to fifty two
weeks and so if you have a question on or
(09:00):
maybe you've got a divorce, or maybe you inherited money
or changed a job and you're doing an IRA rollover.
Any of those topics would be great to hear. The
subject matters are covered all across the year. You can
find that on our website. Financial Resource Management is our
corporate name, and we are headquartered in North Carolina, So
(09:21):
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dot com and you can click on there and find
our latest newsletters to clients, our office locations, biographical sketches
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(09:42):
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or myself nine nine eight five six nineteen sixty eight.
(10:03):
Call us, leave a voicemail, will call you back, or
our great administrative staff will call you back and set
up a convenient time. So today our topic at hand
is social security. But because of the mess going on
in the federal government and the trade wars and the TIFFs,
well we'll still talk a little about that. But remember
as we're doing that, Congress is still doing their thing,
(10:25):
trying to pass the lock in the tax law, lower taxes,
lock in the old Trump tax law, so it won't
ever increase our taxes, which is a big deal. And
let's don't forget the Doge people. Elon Musk is discovering
multitudes of things that are kind of scary that that
actually are the biggest wasteful situation in the world. So
(10:46):
I thought I would I thought I would share this
idea that they found in the subsecurity world almost five
billion of waste in defense almost one point seven billion,
and so forth. So there there's multiple things going on,
and it actually makes your head spin. I mean, I mean,
I mean, we are supposedly the experts. Our heads are
(11:07):
spinning too.
Speaker 2 (11:08):
But I find that, you know, people that are mad
about what's being found is blowing my mind. And you know,
I reached out to our Social Security contact and he
confirmed there's billions of fraud in the direct deposit situation.
Hence is why they're making changes at Social Security. It's
not that you can't go online or anything. That's the
(11:31):
misinformation that's out there. If you're making a change or
you're signing up new, yes, they are verifying ideas, which
they should. So again, you're not going to be excluded
from signing up for Social Security or not getting your money.
It's the fact that they're narrowing down and trying to
(11:51):
stop fraud. So if you are changing or direct deposit,
you are going to go through some more steps. If
you're signing up, you're going to go through some more steps.
Here's the deal though, the last five years that I've
helped people with Social Security sign up, they could not
get appointments in Social Security offices because people were working remote. Right,
(12:12):
So if you are thinking that what's been happening lately
is causing this, it is not. I can tell you
from experience that was happening before has nothing to do
with Trump, has nothing to do with Elon, and my
Social Security person confirmed it as well. I reached out
to get the skinny on that. So please you know
(12:34):
when you're looking at this information, as one of you said,
don't look at the news. Call somebody, call your financial advisor.
They should know we know all this stuff because we're
keeping up on it. Callin ass what's the truth. That's
what you deserve to know. So again, our number is
nine one nine eight five six nineteen sixty eight. We'd
love to hear from you. Call your you'll get a
(12:55):
complimentary meeting, and we'd love to talk to you about
anything you want to talk about.
Speaker 3 (13:00):
And just to give the Social Security Administration a little credit.
First of all, their website is incredibly intuitive and easy
to use. It's s SA dot gov that stands for
Social Security Administration SSA dot gov. You can go on
there and you can set up your account and probably,
you know, fifteen minutes so I'll ask you some verification
questions and then you can hop in and you can
explore what your benefit looks like at sixty two, at
(13:21):
four retire and age, what if you wait till seventy,
what is your spousal benefit? All that kind of stuff.
And I would recommend if you are on the precipice
of collecting Social Security or at least considering it, schedule
a call with the Social Security Administration. I have been
on two of those calls, well you can get it.
They're booked out oftentimes a month plus. And it was
(13:42):
that way. Yeah, pre doge because I helped my mom
do it. And I went over to her house and
I love my mom, She's my hardest client. I went
over to her house and you know, sat down with
her and the Social Security administrator and she was this
is the administrator I'm talking about, incredibly knowledgeable and helped
give us, you know, some strategies to think about. You know,
(14:02):
should my mom draw her own social Security and let
my dads continue to go while he's working, and then
when he retires, hers would step up to half of
what his would have been. I mean, it was it
was very complex and you know, as a financial advisor, yes,
I study this stuff and I would I would assume
that the Social Security Administration wouldn't know it, but they
(14:23):
were trying to give us tips and tricks to maximize
the benefit. And in a way you think that the
government would have a conflict of interest and try to
get you to, you know, take the least amount that
you can get. But I was. I was very impressed.
So again, make that phone call to the Social Security
administrators or talk to your advisor, like Wanda mentioned about
(14:43):
social security strategies because it is one leg of the stool.
It's not the whole stool, but it is one leg
of the stool, and people can often be surprised at
how much money it provides and how much of their
spending needs it covers in retirement. So our number nine
one nine eight five six one nine six eight to
see how it fits into your plan.
Speaker 1 (15:00):
And as both said, talk to your advisor and let
me just give you a heads up. Many advisors in
the financial planning world or investment world know nothing about
SOB security strategy. So that's a heads up. And the
reason we know that we meet with a lot of
radio listeners and they'll call us and say, hey, I've
talked to my advisor and ask them about social security,
when to take it, when tonight, what the strategies are,
(15:22):
and they said, we can't help you. So one of
the things that we think our little business is unique
on is we go into many areas. Now it slows
us down, so to speak, but it also slows us
down in a good way because we meet the client's needs.
So that's why we have a complete show today on
(15:43):
SOBI security and how it works and what to avoid
and mistakes to make, because once you pull the trigger
on Social Security, if you go twelve months with that
income benefit, you can never go back. It's irrevocable. So
it's a big decision and it to be made between
age sixty two and seventy. And I am glad speaking
(16:04):
of the DOZ thing. And I know Elon Musk is
kind of a lightning ride today. But when they're sending
out thousands of checks to people one hundred and fifty
years old, and they're sending out checks to kids six
and eight months old, that's because of theft. That's because
of hacking. You know who's hacking a lot of our
(16:26):
government money. This is scary is North Korea? North Korea?
Where do they get all their money? They can't feed
their people, most of the half of their population is starving.
But they can send rockets over across Japan and the
bay they are over in the Pacific Ocean. Where do
they get all that money? They literally steal it. They
(16:46):
just stole a bitcoin thing. I think it was two
hundred million dollars in one day, real money from a
bitcoin hack. So we live in a crazy world. So
Social securities, cleaning up some of the junk that they're
doing and the mistakes they made. And that's a good
thing because we need it it and both said it right.
(17:07):
It's a three legged stool, some people used to say,
and one of the legs in your retirement is so security.
It's a big deal.
Speaker 3 (17:14):
And people people say that social Security is going to
run out in twenty thirty three. You know, those are
the scary media headlines. Well, the government says the government
says that, but a lot of media companies also say that.
And they're the same media organizations that are poo poo.
And what Elon Musk is doing right now, yeah, And
so it's like, Okay, he's trying to save money in
social security and all these other areas, so that maybe
(17:36):
we extend that twenty thirty three to twenty thirty four
or beyond. But let's talk about that a little bit.
Is there really this black box of cash that is
going to run empty by twenty thirty three and at
that point will benefit stop? Because I've gotten a lot
of questions from clients, especially over the past year and
a half about look, I'm not relying on Social Security.
(17:57):
I want my portfolio to be able to get me
my spending needs. I tell him, in a way, that's
a good mindset to have, because we don't want to
rely too much on social security. But I can assure
you it's going to be there. So what are you
all thoughts about the twenty thirty three number in the
future of social security?
Speaker 2 (18:13):
I think in some capacity will be there. I think
there has to be changes, and that cans been kicked
down the road by several presidents. And what's interesting that
always tellt that the Republicans of the one one's destroying
social security. Actually Clinton back in his time put this
out there and his own party destroyed. The idea was
(18:36):
to allow some of the contribution of social security to
go to a private fund and be invested. And he
wasn't saying all. He was saying part and Australia does
that right now. It's like twelve percent of a person's
social security goes into a private fund that's being invested
(18:56):
for growth. Now you might say, well, what if, what if?
But they're not.
Speaker 3 (19:01):
I mean, so Clinton said that that was not going
to happen.
Speaker 2 (19:04):
Clinton said it would, he wanted it to happen, but
that nobody agreed with him, even his own party. So
it's idea, it is, And I think Bush was the
second one.
Speaker 3 (19:15):
Bush the first to shut it out there.
Speaker 1 (19:17):
He was going to let everybody under forty five put
it in more of a market environment.
Speaker 2 (19:22):
But that's what it is. That's what people don't understand.
Speaker 1 (19:24):
It didn't even get to Congress.
Speaker 2 (19:26):
It was fifty five and below that Clinton said, and
I think Bush forty five and then But Australia, I
did some study on this. Australia allows that. And what
they do is if people haven't saved enough, you know,
and that there is a fund for them to have
a meet up, you know. In other words, it's a
(19:46):
means test. And I agree with that. It should be
a means test. Yeah, exactly. And and there's no worry
with their people of running out of retirement money. So
I don't know why we as America are not looking
at that. Now. It's too late for you and I Greg,
but it's not too late for Bud to look at that.
And I think it should be done. I don't know
why we're not doing it.
Speaker 3 (20:06):
I am fully in favor of making overhaul changes to
social security, and the last person that made significant changes
to how you're able to draw. Social Security was Ron
Reagan and sliding back before retirement age, which by the way,
is still going into effects.
Speaker 2 (20:21):
Now extended it. It did help.
Speaker 3 (20:23):
It certainly helped, and I think we should slide back
the start date from sixty two to sixty five. But
if that happens, it's not going to be you wake
up one morning and all of a sudden, it's sixty
five and you're sixty two years old and you got
to wait three more years. It's going to be gradual
as it was with Reagan, and it'll affect my generation,
not the people who are right there on the doorstep
of being eligible. And so we got so much more
(20:44):
to talk about about social security and strategies and why
it's broken and what Wina is going to do to
fix it and all that kind of stuff. So y'all
stick with us and we'll be right back.
Speaker 1 (20:53):
And welcome back to the second half of the Great
Kicks Show. Today we're talking about social security and how
to fix it, is it sick, is it going to last?
How do you do it, how do you make it
work for your best interest? All of those great things
today in the next half hour, So stay tuned. Also
just a heads up. Next week, we're kind of on
a roll about retirement planning. So next week we're going
(21:16):
to talk about actually retirement planning, not only financially, but
in other ways as well, like what are the steps
you take? We get these questions all the time from clients.
When can I retire? Can I afford it? How much
money do I need? All those questions we're going to
get into great detail in that next week, and then
two weeks from that today we're going to have a
(21:36):
show on a state planning. Like it's one thing to
live a good life, it's another thing to leave a
legacy for your kids and grandkids in a proper way.
You can do super estate planning before you pass away,
and that's so critical even though seventy percent of Americans
don't even have a will. That's why we spend a
(21:58):
whole show on a state planning. That's two weeks away.
We'll having a state attorney come in and help us
in the details of how to do that and some
recommendations on the legal side. And then the third week
from today, we're going to talk about inheritance. That's the
other side when you pass away or maybe you've received
an inheritance from your grandmother. I've had clients recently receive
(22:20):
inheritance from their mom, some from their granddad, and some
from their brother and sister. So inheritance is a big deal,
and there's all kinds of taxes involved in some of it.
So we're the next three weeks are tremendous shows on.
Just as you retire, as you also pass away and
(22:44):
leave legacies, so we leave stronger than that. Most good
hearted Americans want to bless their kids and grandkids, and
you can do that in a couple of ways. One
is to have a good retirement so you don't have
to live in your kid's basement. By the way, that's
why we're talking about so security today. Now to get started,
guys on the second half of the show, let me
(23:04):
just give some real basic rules and then you guys
can go off on some of the particulars. Social Security
is mandated between age sixty two and seventy. You have
to take it at seventy. You can't say I'm going
to wait till seventy one. No, you're going to take it.
Everybody pays into it that works in this country, About
six and a quarter percent comes from you your paycheck
(23:28):
and your employer has to match that. And included in
that Semitic are in medicaid and all that. We won't
go into that too much today, but Social Security is
mandated and then you have to take it, and it
goes up to encourage you to delay it. Sometimes the
government makes it go up a little bit, about seven
seven and a half percent between age sixty two and
(23:49):
sixty six, and about eight percent or so until seventy.
So here's a little disclaimer too. Everything you ever read
or see it gives you the annuals step up in
income benefit from Social Security. It actually goes up every
single month. Every single month. That goes up a little
bit between age sixty two and seventy. And then you
(24:10):
throw in marriage, you throw in divorce, you throw in
dying young. We're going to get into that right now.
But I just wanted to give you the basics of
how it works and why it's such an important thing.
It can become crucial in your income planning during retirement.
Speaker 2 (24:27):
Well, you know, social Security is a pay as you
go system. The ones paying today benefits today's recipients. And
it used to be that it was one hundred Yeah,
it does this one hundred and sixty workers for every payee.
But every time the democratics have shifted, people are living longer.
Now it's five workers per retire, and now it was
(24:50):
then five workers per retire, and now it's two point seven.
Why are people leaving the workforce, That's one of the
things they're saying is and it could be it's baby
boomers the biggest Yeah, we're the biggest contributors to the
Social Security system. So obviously there's changes of god to
be made, whether it's adjusting benefits, adjusting dates, or adjusting payrolls.
(25:12):
And I vote for adjusting payrolls because I think it
was it this year twenty twenty five that they raised
the limit to one hundred and seventy six thousand. If
you make more than that, they take no Social Security out.
I think that's the dumbest idea I've ad, sir, it
is so dumb. So if I could just get to Trump.
You know, he's leaving me messages, Why can't I leave
him a message? He's emailing me every day, So hey,
(25:35):
I want that figure to change because I feel like
we could fix the system that they would do that,
And who came up with that, and.
Speaker 3 (25:43):
Maybe we could make benefits tax free again because they
used to be tax free Aboauck before the nineties. And
you're exactly right. So expanding Wanda's example is if it's
one hundred and seventy six thousand dollars, if you make
one hundred and seventy eight thousand dollars a year, that
extra thousand dollars that you may is free of any
Social Security text. So if you have two brothers, one's
(26:04):
making one hundred and seventy eight thousand, one's making one million,
one hundred and seventy eight thousand, they're both paying the
exact same into the Social Security Administration.
Speaker 2 (26:12):
Crazy, So yeah, it is.
Speaker 3 (26:13):
It is kind of nuts. And so who qualifies for
Social Security? Most everybody does. There are certain people out
there that don't qualify. You know, if you you have
to have forty credits to qualify for Social Security benefits
and you get four credits a year, it's a credit
a quarter, So ten years of employment and paying into
the system and then bam you qualify, your benefit's going
(26:36):
to be low. If that's the case. If you didn't
work a full you know, career, even if you didn't work,
if you're married for ten years or more and then divorced,
you qualify for benefits. So if you've been married for
ten years plus, even if you get divorced, you still
qualify for some of those spousal benefits if you haven't
then been if you haven't been remarried. And then there's
(26:59):
also of the self employed people. So I spent some
time after college, about a year playing music, and I
came in contact with a lot of other musicians, several
of whom are still playing music. And in the music world,
you underreport your income obviously because you don't you don't
make you don't make a whole lot of money, and
so you're getting a lot of times paid in cash.
And at the time, it seems unless your jelly roll.
(27:22):
At the time, it seems great, right, because I mean,
there's more money in your pocket. But this is why
it always pays to think about your future self. What
does that look like when you're sixty two and maybe
you have arthritis in your hands and you can't play
guitar or whatever as well as you used to. That
income might slow down or stop. Your band's not as
popular as it once was.
Speaker 1 (27:41):
Those rolling stones haven't slowed down.
Speaker 3 (27:45):
You got to drink that water that Keith Richards has
been drinking, It's probably not water. But anyways, if that's
your situation and you haven't paid into the system, or
maybe you're a plumber, you're a self employed individual that
underreports your income or not. The we're not telling you
what to do, but what we are telling you is
from a planning perspective, and having that longevity of income
(28:06):
later in life, it's going to put you at a
major disadvantage because you might not qualify for Social Security,
and if you do qualify, it's probably going to be
a much lower benefit. So there's always some give and
take there, so just be conscious of that.
Speaker 2 (28:17):
You know. I had a I think I told you
about this, Greg. I had a prospect one time come
to me that decided not to work with me, which
is fine because I told them the truth. Their CPA
had told them not to pay into Social Security.
Speaker 1 (28:31):
Wow, And I.
Speaker 3 (28:32):
Was like, Uh, how do you do that?
Speaker 2 (28:36):
What do you mean? He told us we didn't have
to pay Social Security? And I went, that's crazy. There's
something wrong here. But because they were going to have
what I was recommend is they start paying because they
were in their forties, y'all, sixty five was coming.
Speaker 3 (28:51):
If you're going to evade taxes, why pay a CPA?
Speaker 2 (28:53):
Exactly so, And because they felt like that I had
cut into their money, their money that they were going
to get, they decided not to work with me because
they felt like the CPA knew more and maybe he
didn't use some kind of thing I didn't know, but
what jail cells I know, and both is exactly right.
You know, one day the piper's got to be paid,
(29:16):
and if you're going to do that, then you can't
come to the trough and say where's my Social Security?
Speaker 1 (29:23):
So yeah, that's right. And talking about just the different nuances,
we run into real interesting things. So here's here's one.
So I had a client died at a young age
in the early fifties, and their kids were under the
age of sixteen. They were like early teenagers. This is
(29:46):
something that widows don't know. Widows don't know that if
their husband dies that they can take a widow's benefit
for their kids under eighteen years old. So this lady
ended up just to amazed that she was getting five
or six hundred a year for her two kids until
they were eighteen based.
Speaker 3 (30:06):
On a lot more than that.
Speaker 1 (30:08):
Right, it depends on year, a month, a month, yeah,
I'm sorry, but it depends on the husband's income. But anyway,
what a God said, that was for her because because
it was least part of that salary that had been
lost was now done. Now when the kids got eighteen,
of course that went away unless they're in college or whatever.
There's all these little nuances there as well, but she
(30:30):
also got some benefit for herself. There is a survivor's benefit.
Another interesting thing, and I'm talking about this because when
people pass away, people get all these weird feelings and
thoughts about it. But in this case, once the kid
turned sixteen, she was still like in like fifty six maybe,
(30:53):
so she couldn't get any more income from Social Security.
But it's sixty The normal start age for SOB security
sixty two. But a widow can start at sixty, so
they get an extra two years of SOBI security from
the ex deceased person's spouse. So anyway, again little nuances
(31:14):
that you may not know. So if you've experienced death
in your family or somebody you know and they have
young kids, or it's a widow who's fifty nine years old,
she probably has no idea that at age sixty she
can get SOBI security income. So call us at nine one, nine,
eight five six, nineteen sixty eight and let us walk
you through this and meet with you and explain there's
(31:36):
all kinds of things inside of the SOBI security world
that are just not known or unknown or rarely known.
Speaker 3 (31:43):
And if you fall in love at age fifty nine
again and you're a widow, just wait until after you're
sixty to get remarried, because if you get remarried, you
no longer qualify for the widow's benefit. But if you
get remarried after sixty, then you can still take the benefits.
So again, there's so many little nuances, as Greg alluded to,
and the Social Security rule book looks a lot like
(32:06):
the Bible because there's just so much in there. And
so it is important to be working with an advisory
group and a financial planning group that can help you
navigate all these complexities and figure out what works best
for your situation. Our number again nine one nine eight
five six one nine six eight. We got one more
break coming up and one more segment on social security
(32:26):
and how you can take advantage of it.
Speaker 1 (32:28):
Bear back Welcome back to The Greg Kicks Show. We're
in segment four, the fourth quarter of the game, and
it comes fast. We're talking about social security today, how
it works, some ideas and strategies to accelerate and benefit
your family, as well as mistakes to avoid. In the
next three weeks, we're going to talk about retirement planning,
as state planning, and inheritance. So there's a lot going
(32:50):
on in this month of April, and we hope you'll
enjoy our shows. We're on podcasts the Greg Kicks Show.
Just pull that up and you can hear all kinds
of topics on our shows and so forth. Also, remember
our website frm NC dot com. That's Financial Resource Management
in North Carolina FRM inc dot com and check us out.
(33:13):
Give us a call at nine one nine eight five
six nineteen sixty eight as well, and we could calls
every week from the radio show. You may even have
an advisor already. I talked to a person this week
that was pretty pretty astounding. They met with their advisor
and the advisor didn't give them a return chart or
(33:36):
a piece of paper or even a website to go
and see how they were doing. The last couple of
years and I'm like, wait a minute, what was that
all about. So we run into stuff like that. We
run into people who who take big, large inheritances and
put them all in different annuities and call it diversification.
We see that, we see the weirdest stuff. So we're
(34:00):
not saying we're perfect. We're saying, come and get a
second opinion. So I would say probably half of our
radio listeners that we meet with our second opinion, like,
tell us what we're missing here, and another set of
eyes is extremely valuable because you're missing stuff like that
sometimes and you don't even have a clue what you're missing.
Speaker 3 (34:22):
Also understand to Greg's point that if you hear of
an idea or a solution that sounds too good to
be true, it probably still is even outside of the
annuity world, because I know in radio land there are
some other ideas that are floating around with other financial
professionals about doing Wroth conversions for a very very minimal
amount of money. Taking a whole lot of money from
(34:43):
your retirement account that's pre tax, moving it to WROTH,
but you're discounting the money that you send over there.
And I had a client mentioned this strategy to me
in my response was all right, well, let's just take
a step back and look at this from a thirty
thousand foot view, was with the common sense, got you're
telling me that the IRS who is going after six
(35:04):
hundred dollars payments or more that Grandma sends little Joey
And now they're armed. They armed the IRS a few
years ago. They're going to be cool with you taking
your million dollar IRA and sliding over to a roth
at one hundred thousand dollars basis No, absolutely not. That's
gonna make you target for a huge audit could potentially
invalidate your IRA. There are some great strategies out there,
(35:27):
but again, when you hear something that might seem a
little crazy and too good to be true, that's the
time that really warrants a second opinion. And a good
number for that second opinion is nine one nine eighty
five six one nine six eight.
Speaker 1 (35:38):
You knew about tax as well?
Speaker 2 (35:40):
Yeah, well, I do want to talk about that because
I think the misinformation out there is you wouldn't know
any taxes on your Social Security or or all of
his taxed or something like that. And actually the truth
is up to eighty five percent of your taxpayer benefits
can be taxed. And I had a situation just recently.
(36:00):
The client lost her husband last year and her son
moved in with her. And I won't go into any
details about why that situation is going on, but she
called me and she said, oh my gosh, Wanda, I
owe fifteen thousand dollars in taxes. And I'm thinking why
because I know her situation, I know her income, I
(36:22):
know all of that. And I was thinking in my
head as I was preparing to send her this money.
Before I did it, I was like, something's wrong. So
I called her back and I said, look, I don't
I think something's wrong. Are you doing TurboTax? She said, yes,
my son's doing it for me and he's very smart,
which I agree he is smart. I met him. But
(36:43):
I said, let's let me ask you this. Your son
has moved in with you, right, and she's like yes.
I said, well, you can fall head of household, which
gives you a bigger you know, what's that called deduction
standard deduction. So and I said, look, I'm not a
but call TurboTax and go over the qualifying factors of
(37:04):
head of household and also you're not taxing all of
your social security. You know, if you make more than
thirty four thousand a year other income, then yes, you
would have eighty five percent of it, but under that
you wouldn't. And so she got TurboTax on the phone
and sure enough she could qualify for head of household.
She ended up calling me back and she only needed
(37:27):
four thousand dollars nice, so that was a big jump
from you know, fifteen to four, so it was kind
of kind of cool. And she said to me, I
want to let you know that my son, who doesn't
trust anybody, wanted me to tell you himself that you
did it today. I said, what did I do? She said,
you earned his trust, So you know, so anyway, there's
(37:49):
just a lot of misinformation about taxes and social security.
So you do need to make sure that if you're
doing TurboTax, think through it and get somebody, get them
on the line, is they have a help desk, and
make sure you're filling out this stuff correctly.
Speaker 3 (38:04):
But it's a very good point about the interconnectivity of
other income and then what happens to your social security
and how it's taxed. Most of our clients are taxed
at that eighty five percent because the threshold is kind
of low. And you know, there's what's called a cost
of living adjustment with Social Security, and that is to
increase with inflation on an annual basis, and they release
that number typically at the end of the year, and
(38:24):
they say, Okay, inflation was bad this year, We're going
to give you a five percent bump, or you know,
you get a whopping one and a half percent two
percent bump on your Social Security benefits. We have had
clients that have called in and said, hey, you know,
they announced this big benefit last year in Social Security,
this big increase, but my social Security went down. What
is that all about. Well, back to the interconnectivity of things.
(38:45):
It's important to understand that oftentimes your Medicare payment, if
you're over sixty five, is taken directly from your Social
Security check, and the income that you receive determines how
much your Medicare costs. And so if you you are
if your husband or wife is still working and you're
taking spousal Social Security and you're on Medicare, well, then
(39:07):
your income might be high to a point that you're
getting deinged on Medicare payments. And your Medicare payments are higher.
So just understand that social Security the net amount that
comes into your bank account. There's a lot of factors
that can pull some value out of that, and a
lot of those are driven by the total income you have,
(39:27):
and so it's important to work with an advisor that
can help you navigate that and potentially reduce some of
your maybe unnecessary income from your portfolio and your investment accounts.
Nine one nine eighty five six one nine six eight
is our number.
Speaker 1 (39:40):
Let's talk about widows and divorce people. There's a lot
of rules there. When someone dies and you're married, both
of you will get Social Security until someone dies, or
maybe you're already getting Social Security. The way the system
works is the higher of the two. So let's say
the husband died, he had a higher Social Security benefit.
(40:02):
The wife had a lower benefit because she spent fifteen
years raising kids along the way. When he dies, she's
going to get the higher of the two, so her benefit,
her income will go away, but his income will be
replaced replacing her. So that's something that's very common. Usually
in a marriage, one person dies first, so the higher
income benefit stays, the lower goes away. Another one is
(40:26):
if you're divorced or second marriage, if you get I
had my wife pass away unfortunately a few years ago,
and I remarried. But I was surprised when Laurie and
I married she lost her husband's death benefit situation in
the future, but she only had to be married to
me nine months. This a nine month that's kind of sure.
(40:47):
I thought it'd be two years. It's nine months. So
when ten months came, I Saidlaurie, guess what if I die,
you get my social Security. She was like, what, nothing
to celebrate because I would have to die first. But anyway,
point being, that's true. And then and then we mentioned
briefly while ago, if you're married ten years to someone,
(41:07):
Let's say you're married to a doctor for fourteen years
and get divorced. When you get to your social Security
retirement age, if you're still single and you didn't work
a lot, you can actually get half of your divorced
husband's income. So as a doctor, perhaps he was going
to get a pretty high social security So again all
(41:29):
kinds of ways. I had a client this year this
past year. She said, well, I didn't worry. I didn't
get ten years or forty quarters of work, so I'm
not eligible to get so security. I said, I think
you're eligible to get half your husband's even if you
didn't work that and she went, really, I said, call
SOID security. A month later they called me back. She
(41:52):
was like giddy as can be. She started getting her
first Social Security check. Again, you don't know this stuff. So,
by the way, we know enough to help you. But
we also have access. Like Wanda talked about, we have
a guy that works at SOB Security. We have a
list I'm looking at it right now of website at
SSA dot gov. All these questions are covered in that
(42:16):
website and you can find it and real quick. One
thing both said while ago Laurie. My wife, Laurie turned
sixty two and we decided to take her as early.
Let me tell you why. Sometimes that's smart because my
first wife died at seventy. She took SOB Security at
sixty two. What if she had waited to get that
(42:36):
bigger Social Security check at seventy, she would have gotten
maybe three months and died. You don't know the future.
So sometimes I hate when I read articles about so
security always wait till seventy, because look how much you're
going to get but if you die young, if you
die in your early seventies, you've wasted a boatload of income.
(42:57):
So if you're a married couple, we sometimes recommend one
of you take it early and one of you delay it.
And sometimes I'll say both of you take it early.
Speaker 2 (43:06):
But that's all the more reason too. For sometimes a
husband and wife, especially if the wife was a stay
at home, worked at home mom, it's good for the
husband to delay his Social Security turn on because it
matters for her.
Speaker 3 (43:18):
That's right, That's exactly right. Part of the strategy is
the survivorship benefit, and to back up really quick to
the to the divorce benefit. If you're longer than the
if you're married longer than ten years, you can get
half of your spouse's benefit. Johnny Carson used to joke
about this on his show. I think he was married women. Yeah,
(43:39):
four times for longer than tenars. So this marriage last.
The marriage has lasted. I mean, sure he was. He
went through some women, but at least it wasn't quick.
He paid about one hundred and twenty one thousand dollars
into the Social Security Administration over the years and received
over four hundred and fifty thousand dollars in benefits. So again,
(43:59):
those are some of the reasons, as we mentioned earlier,
that the Social Security Administration might be breaking and cracking,
and so I think we need to ship wind up
to DC fix all this stuff.
Speaker 2 (44:09):
Two women, that's all you get. That's right.
Speaker 1 (44:12):
Yeah, way, I've put a limit on the marriages there.
But anyway, what a show. We just touched on it,
and we hope you wetted your appetite and you realize
how important this is. So give us a call at
nine one nine eight five six, nineteen sixty eight. Next
week we're going to talk about retirement planning and we'll
cover a little bit more on Social Security on that show.
Two weeks from today we do a state planning within
(44:34):
the state Attorney friend to give us guidelines on that.
So we're thankful that you listen today. We'll help. You've
learned a lot, give us a call. The best way
to do it is apply all the things we talk
about over these weeks into your personal life nine nine
eighty five six nineteen sixty eight. And with that, remember this,
it's your money, it's your future, don't blow it.
Speaker 3 (44:55):
Advisory services through Couple Investment Advisory Services LLC. Security is
offered through Capital Investment Group Bank Remember Finra in SIPIC
one thousand, eat six Forks Road, Raleigh, North Carolina, nine
one nine eight three one twenty three seventy. HOST performance
is not indicative of future results
Hello, everybody, Welcome to the Greg Hicks Show. We're so
glad you tuned in today for another hour of just
mind boggling information. We're good at that, right guys. I'm
here with Wanda Cooper and bo Nicholson. We're all financial
advisors BOE and our CFPS with a small but vastly
cool business called Financial Resource Management. And we are in
(00:23):
the Raleigh area with our main office and also our
fabulous smaller office in Atlantic Beach, North Carolina. Welcome to
North Carolina. All you knew people moving in. We know
you're coming in because we get phone calls from you.
But anyway, just to give you a quick summary of
what we are. We are financial advisors. We do a
lot of work with individual people, helping them reach their
(00:47):
goals and helping them control things. And this last week
or two it's been out of control things that are
causing us to be more focused on being in control.
We're going to talk about that today. But first of all,
we always like to kick off. If you're a regular
listener to our show, you know the first segment is
(01:07):
about the news and what's affecting us and particularly our
financial life and thinking and so forth, and then we
always hone in on a very specific topic for the second, third,
and fourth segment of The Great Hicks Show. Today is
a really interesting topic that most people, off the top
of their head think they know a lot about, but
(01:30):
when we get into it, they realize they don't know
as much as they thought. And that is social security
and how it works. It seems so simple on paper
until you try to do it. But we're going to
get into that later. I just want to read. I
thought a way to kick off today's show, guys. So
I've got the headlines of the Wall Street Journal on Thursday,
(01:50):
just a couple of days ago. Here it is Trump backtracks,
pauses many tariffs. Second headline, stock roars back with the
five hundred climbing nine point five percent. Third headline on
page one China still in crosshairs, built trade war arsenal,
(02:11):
and then the bottom right says, of all things, you know,
put this in your hat. North Korea learns in Ukrainian combat.
There's been eight thousand Koreans killed fighting for Russia in Ukraine.
Just throw that in the back of your head. And then,
of all things, you can't make this up. The last
(02:34):
headline on page one are e bikes electronic bikes a
godsend for paving the road to perdition? And then the
subheadline is, as the bike spread in the Ohio Amish country,
so does the fear they will undermine their values because
(02:54):
remember they ride horses and buggies and it's illegal. They
may go to hell, perhaps drive a car, but e
bikes is the compromise. So now this Amish city in Ohio,
everybody's riding e bikes everywhere. Good for that, that's okay.
Find just don't get in that car now.
Speaker 2 (03:12):
I find it interesting that Trump gets credited with the
fall of the market, but he never gets credited with
the upside of the market. And it's interesting too. I
saw a big, old article in the Wall Street Journal,
avoid temptation of checking your four oh one.
Speaker 1 (03:28):
K, the temptation.
Speaker 3 (03:30):
That's the best advice for this week exactly.
Speaker 2 (03:33):
So I thought that was It was kind of a
big article. It wasn't like a little section avoid temptation
of checking your four one K. But remember when you've
got a four to one K. My sister called me
three times this week about her four one K, and
I said, stop looking at it. You're putting in money right,
and she said yes. I said, within you're buying load,
stop looking at it. So today I get a call,
(03:55):
how can I increase my four one k? So you
know the bottom line, don't micromanage it at this point,
Marcus go up, Marcus go down. But if you're putting
money in, it's a good thing. Now, if you've got
an old four to one k that you've never rolled over,
I don't find as much sympathy for you, because sometimes
if you leave a four to one k in place,
(04:17):
you don't have the access to everything that's out there,
and you could be taking advantage of a better growing
market if you diversify that. So give us a call
nine one nine A five six nineteen sixty eight. If
you follow that path of the person that's never met
with anyone to discuss your your financial picture, we'd love
to talk to you.
Speaker 3 (04:37):
Yeah. And I mean just to expand on this week,
because what a what a week in the markets? I
think was it? Tuesday was the largest swing. Let me
pull this stat up really quick, the S and P's
biggest gains since World War Two. April ninth, which was Wednesday,
was the third largest gain in a single day. Nine
(05:00):
point five to two percent that we've had since World
War Two. That's a long time. And that's because Trump
announced the ninety day pause on the tariffs, which effectively
means more uncertainty. What is the market not like? The
market doesn't like uncertainty. But one thing that is that
has become certain in this pause is that this was
ninety nine percent about China. Previously we thought it was
maybe ninety percent about China, but this is one hundred percent.
(05:22):
He is gunning for China, and he announced a pause
on everybody who's been willing to negotiate except for China,
because they're continuing to play hardball. And I want to
expand on that just a little bit because remember Trump
debatable on how he did his first term. He did
all right, but one thing he did very well was China.
He had China ready to cave on a number of
(05:44):
trade items in the fourth quarter of twenty nineteen, and
then COVID magically happened, right and so right, you can
let your mind go where your mind goes on that.
But he's back in the saddle and he's targeting China
once again. Well, China is at the bottom kind of
their recession. They had a big real estate situation like
we did in two thousand and eight. So from that standpoint,
(06:06):
we are holding a lot of the cards. However, speaking
of holding, China owns most of our debt, most of
our ten year treasuries. China also owns majority of our
mortgage backed securities. And what happened this past week is
the long term interest rates went way down because there
was this chance of a recession and everybody thought, Okay,
interest rates are gonna come down. The US is going
(06:28):
to cut rates if we go into a recession. It
looks like we're going into a recession. That was the
start of this week. Well, then what happens is China
dumps a lot of our ten year treasuries. And you
don't have to understand the economics behind it. All you
need to know is that when you sell a lot
of ten year treasuries on the market, and China has
trillions of dollars worth, it causes interest rates to go up.
They only sold the tip of the iceberg. If they
(06:48):
wanted to wreck our economy, they would sell all of
the ten year treasuries, they would sell all of the
mortgage backed securities. It would make our economy from an
interest rate perspective, very unstable. The American people would lose confidence,
and so it just it's interesting to me. People say that,
you know, this is like watching a reality show on
the grands on the Grand Stage, and I kind of agree,
because you have I would say the three most prideful
(07:11):
leaders in the in the world are putin Shijing Ping
in China, and Donald Trump, and two out of three
of those right now are in a you know what
contest with the global economy and the balance. So it'll
be interesting to see what happens. The best advice I
can give you is not to listen to the pundits
who are calling for a sixty percent chance of a
recession forty percent chance. I'll remind you that Bloomberg called
(07:35):
for one hundred percent chance of a recession at the
end of twenty twenty two. They were wrong. They put
one hundred percent on the line. They were wrong about it.
The best thing that you can do is meet with
an advisor, discuss your situation objectively, make a sound plan,
and stick to it. Between any market our number nine
one nine eighty five six one nine six eight is
a great place to start.
Speaker 1 (07:54):
And the good news about our population is most people
pay no attention to this. So the people in our
audience do and that's why we're going to talk about
more about this stuff today as well as looking at
something that you can depend on, but you really can't
depend on self security. So with that little teaser, we'll
take a bak. Come back for the second segment. Stay tuned,
(08:17):
Welcome back to the second segment of the Greg Hicks Show.
Just want to remind you that we're on the air
in Raleigh area, Raleigh, North Carolina, and Atlantic Beach on
the weekend Saturday, two o'clock Sunday two o'clock in the
Raleigh market, as well as at the beach area that
is the Crystal Coast in Moorhead City, Atlantic Beach. We're
there on seven am Saturday and three pm Sunday afternoon.
(08:39):
We're on podcasts. You just pull up the Greg Hicks
Show and you got podcasts all over the place. A
lot of our shows are recorded and archived. There's two
ways to hear shows on a topic that maybe you're
interested in but you just haven't heard us yet. Usually
our shows are archived back about fifty to fifty two
weeks and so if you have a question on or
(09:00):
maybe you've got a divorce, or maybe you inherited money
or changed a job and you're doing an IRA rollover.
Any of those topics would be great to hear. The
subject matters are covered all across the year. You can
find that on our website. Financial Resource Management is our
corporate name, and we are headquartered in North Carolina, So
(09:21):
the initials are FRMNC dot com. That's our website, FRMNC
dot com and you can click on there and find
our latest newsletters to clients, our office locations, biographical sketches
of Bo and Wanda and I. But also you can
listen to the radio. Click the tab that says radio
(09:42):
and scroll down and pick your show. So there's a
lot of ways to hear our show. A lot of
our own clients listen to the shows just for information
and updates, and we appreciate that. We love radio listeners
and we love meeting new radio listeners. And you can
set up a time to meet with Bo or Wanda
or myself nine nine eight five six nineteen sixty eight.
(10:03):
Call us, leave a voicemail, will call you back, or
our great administrative staff will call you back and set
up a convenient time. So today our topic at hand
is social security. But because of the mess going on
in the federal government and the trade wars and the TIFFs,
well we'll still talk a little about that. But remember
as we're doing that, Congress is still doing their thing,
(10:25):
trying to pass the lock in the tax law, lower taxes,
lock in the old Trump tax law, so it won't
ever increase our taxes, which is a big deal. And
let's don't forget the Doge people. Elon Musk is discovering
multitudes of things that are kind of scary that that
actually are the biggest wasteful situation in the world. So
(10:46):
I thought I would I thought I would share this
idea that they found in the subsecurity world almost five
billion of waste in defense almost one point seven billion,
and so forth. So there there's multiple things going on,
and it actually makes your head spin. I mean, I mean,
I mean, we are supposedly the experts. Our heads are
(11:07):
spinning too.
Speaker 2 (11:08):
But I find that, you know, people that are mad
about what's being found is blowing my mind. And you know,
I reached out to our Social Security contact and he
confirmed there's billions of fraud in the direct deposit situation.
Hence is why they're making changes at Social Security. It's
not that you can't go online or anything. That's the
(11:31):
misinformation that's out there. If you're making a change or
you're signing up new, yes, they are verifying ideas, which
they should. So again, you're not going to be excluded
from signing up for Social Security or not getting your money.
It's the fact that they're narrowing down and trying to
(11:51):
stop fraud. So if you are changing or direct deposit,
you are going to go through some more steps. If
you're signing up, you're going to go through some more steps.
Here's the deal though, the last five years that I've
helped people with Social Security sign up, they could not
get appointments in Social Security offices because people were working remote. Right,
(12:12):
So if you are thinking that what's been happening lately
is causing this, it is not. I can tell you
from experience that was happening before has nothing to do
with Trump, has nothing to do with Elon, and my
Social Security person confirmed it as well. I reached out
to get the skinny on that. So please you know
(12:34):
when you're looking at this information, as one of you said,
don't look at the news. Call somebody, call your financial advisor.
They should know we know all this stuff because we're
keeping up on it. Callin ass what's the truth. That's
what you deserve to know. So again, our number is
nine one nine eight five six nineteen sixty eight. We'd
love to hear from you. Call your you'll get a
(12:55):
complimentary meeting, and we'd love to talk to you about
anything you want to talk about.
Speaker 3 (13:00):
And just to give the Social Security Administration a little credit.
First of all, their website is incredibly intuitive and easy
to use. It's s SA dot gov that stands for
Social Security Administration SSA dot gov. You can go on
there and you can set up your account and probably,
you know, fifteen minutes so I'll ask you some verification
questions and then you can hop in and you can
explore what your benefit looks like at sixty two, at
(13:21):
four retire and age, what if you wait till seventy,
what is your spousal benefit? All that kind of stuff.
And I would recommend if you are on the precipice
of collecting Social Security or at least considering it, schedule
a call with the Social Security Administration. I have been
on two of those calls, well you can get it.
They're booked out oftentimes a month plus. And it was
(13:42):
that way. Yeah, pre doge because I helped my mom
do it. And I went over to her house and
I love my mom, She's my hardest client. I went
over to her house and you know, sat down with
her and the Social Security administrator and she was this
is the administrator I'm talking about, incredibly knowledgeable and helped
give us, you know, some strategies to think about. You know,
(14:02):
should my mom draw her own social Security and let
my dads continue to go while he's working, and then
when he retires, hers would step up to half of
what his would have been. I mean, it was it
was very complex and you know, as a financial advisor, yes,
I study this stuff and I would I would assume
that the Social Security Administration wouldn't know it, but they
(14:23):
were trying to give us tips and tricks to maximize
the benefit. And in a way you think that the
government would have a conflict of interest and try to
get you to, you know, take the least amount that
you can get. But I was. I was very impressed.
So again, make that phone call to the Social Security
administrators or talk to your advisor, like Wanda mentioned about
(14:43):
social security strategies because it is one leg of the stool.
It's not the whole stool, but it is one leg
of the stool, and people can often be surprised at
how much money it provides and how much of their
spending needs it covers in retirement. So our number nine
one nine eight five six one nine six eight to
see how it fits into your plan.
Speaker 1 (15:00):
And as both said, talk to your advisor and let
me just give you a heads up. Many advisors in
the financial planning world or investment world know nothing about
SOB security strategy. So that's a heads up. And the
reason we know that we meet with a lot of
radio listeners and they'll call us and say, hey, I've
talked to my advisor and ask them about social security,
when to take it, when tonight, what the strategies are,
(15:22):
and they said, we can't help you. So one of
the things that we think our little business is unique
on is we go into many areas. Now it slows
us down, so to speak, but it also slows us
down in a good way because we meet the client's needs.
So that's why we have a complete show today on
(15:43):
SOBI security and how it works and what to avoid
and mistakes to make, because once you pull the trigger
on Social Security, if you go twelve months with that
income benefit, you can never go back. It's irrevocable. So
it's a big decision and it to be made between
age sixty two and seventy. And I am glad speaking
(16:04):
of the DOZ thing. And I know Elon Musk is
kind of a lightning ride today. But when they're sending
out thousands of checks to people one hundred and fifty
years old, and they're sending out checks to kids six
and eight months old, that's because of theft. That's because
of hacking. You know who's hacking a lot of our
(16:26):
government money. This is scary is North Korea? North Korea?
Where do they get all their money? They can't feed
their people, most of the half of their population is starving.
But they can send rockets over across Japan and the
bay they are over in the Pacific Ocean. Where do
they get all that money? They literally steal it. They
(16:46):
just stole a bitcoin thing. I think it was two
hundred million dollars in one day, real money from a
bitcoin hack. So we live in a crazy world. So
Social securities, cleaning up some of the junk that they're
doing and the mistakes they made. And that's a good
thing because we need it it and both said it right.
(17:07):
It's a three legged stool, some people used to say,
and one of the legs in your retirement is so security.
It's a big deal.
Speaker 3 (17:14):
And people people say that social Security is going to
run out in twenty thirty three. You know, those are
the scary media headlines. Well, the government says the government
says that, but a lot of media companies also say that.
And they're the same media organizations that are poo poo.
And what Elon Musk is doing right now, yeah, And
so it's like, Okay, he's trying to save money in
social security and all these other areas, so that maybe
(17:36):
we extend that twenty thirty three to twenty thirty four
or beyond. But let's talk about that a little bit.
Is there really this black box of cash that is
going to run empty by twenty thirty three and at
that point will benefit stop? Because I've gotten a lot
of questions from clients, especially over the past year and
a half about look, I'm not relying on Social Security.
(17:57):
I want my portfolio to be able to get me
my spending needs. I tell him, in a way, that's
a good mindset to have, because we don't want to
rely too much on social security. But I can assure
you it's going to be there. So what are you
all thoughts about the twenty thirty three number in the
future of social security?
Speaker 2 (18:13):
I think in some capacity will be there. I think
there has to be changes, and that cans been kicked
down the road by several presidents. And what's interesting that
always tellt that the Republicans of the one one's destroying
social security. Actually Clinton back in his time put this
out there and his own party destroyed. The idea was
(18:36):
to allow some of the contribution of social security to
go to a private fund and be invested. And he
wasn't saying all. He was saying part and Australia does
that right now. It's like twelve percent of a person's
social security goes into a private fund that's being invested
(18:56):
for growth. Now you might say, well, what if, what if?
But they're not.
Speaker 3 (19:01):
I mean, so Clinton said that that was not going
to happen.
Speaker 2 (19:04):
Clinton said it would, he wanted it to happen, but
that nobody agreed with him, even his own party. So
it's idea, it is, And I think Bush was the
second one.
Speaker 3 (19:15):
Bush the first to shut it out there.
Speaker 1 (19:17):
He was going to let everybody under forty five put
it in more of a market environment.
Speaker 2 (19:22):
But that's what it is. That's what people don't understand.
Speaker 1 (19:24):
It didn't even get to Congress.
Speaker 2 (19:26):
It was fifty five and below that Clinton said, and
I think Bush forty five and then But Australia, I
did some study on this. Australia allows that. And what
they do is if people haven't saved enough, you know,
and that there is a fund for them to have
a meet up, you know. In other words, it's a
(19:46):
means test. And I agree with that. It should be
a means test. Yeah, exactly. And and there's no worry
with their people of running out of retirement money. So
I don't know why we as America are not looking
at that. Now. It's too late for you and I Greg,
but it's not too late for Bud to look at that.
And I think it should be done. I don't know
why we're not doing it.
Speaker 3 (20:06):
I am fully in favor of making overhaul changes to
social security, and the last person that made significant changes
to how you're able to draw. Social Security was Ron
Reagan and sliding back before retirement age, which by the way,
is still going into effects.
Speaker 2 (20:21):
Now extended it. It did help.
Speaker 3 (20:23):
It certainly helped, and I think we should slide back
the start date from sixty two to sixty five. But
if that happens, it's not going to be you wake
up one morning and all of a sudden, it's sixty
five and you're sixty two years old and you got
to wait three more years. It's going to be gradual
as it was with Reagan, and it'll affect my generation,
not the people who are right there on the doorstep
of being eligible. And so we got so much more
(20:44):
to talk about about social security and strategies and why
it's broken and what Wina is going to do to
fix it and all that kind of stuff. So y'all
stick with us and we'll be right back.
Speaker 1 (20:53):
And welcome back to the second half of the Great
Kicks Show. Today we're talking about social security and how
to fix it, is it sick, is it going to last?
How do you do it, how do you make it
work for your best interest? All of those great things
today in the next half hour, So stay tuned. Also
just a heads up. Next week, we're kind of on
a roll about retirement planning. So next week we're going
(21:16):
to talk about actually retirement planning, not only financially, but
in other ways as well, like what are the steps
you take? We get these questions all the time from clients.
When can I retire? Can I afford it? How much
money do I need? All those questions we're going to
get into great detail in that next week, and then
two weeks from that today we're going to have a
(21:36):
show on a state planning. Like it's one thing to
live a good life, it's another thing to leave a
legacy for your kids and grandkids in a proper way.
You can do super estate planning before you pass away,
and that's so critical even though seventy percent of Americans
don't even have a will. That's why we spend a
(21:58):
whole show on a state planning. That's two weeks away.
We'll having a state attorney come in and help us
in the details of how to do that and some
recommendations on the legal side. And then the third week
from today, we're going to talk about inheritance. That's the
other side when you pass away or maybe you've received
an inheritance from your grandmother. I've had clients recently receive
(22:20):
inheritance from their mom, some from their granddad, and some
from their brother and sister. So inheritance is a big deal,
and there's all kinds of taxes involved in some of it.
So we're the next three weeks are tremendous shows on.
Just as you retire, as you also pass away and
(22:44):
leave legacies, so we leave stronger than that. Most good
hearted Americans want to bless their kids and grandkids, and
you can do that in a couple of ways. One
is to have a good retirement so you don't have
to live in your kid's basement. By the way, that's
why we're talking about so security today. Now to get started,
guys on the second half of the show, let me
(23:04):
just give some real basic rules and then you guys
can go off on some of the particulars. Social Security
is mandated between age sixty two and seventy. You have
to take it at seventy. You can't say I'm going
to wait till seventy one. No, you're going to take it.
Everybody pays into it that works in this country, About
six and a quarter percent comes from you your paycheck
(23:28):
and your employer has to match that. And included in
that Semitic are in medicaid and all that. We won't
go into that too much today, but Social Security is
mandated and then you have to take it, and it
goes up to encourage you to delay it. Sometimes the
government makes it go up a little bit, about seven
seven and a half percent between age sixty two and
(23:49):
sixty six, and about eight percent or so until seventy.
So here's a little disclaimer too. Everything you ever read
or see it gives you the annuals step up in
income benefit from Social Security. It actually goes up every
single month. Every single month. That goes up a little
bit between age sixty two and seventy. And then you
(24:10):
throw in marriage, you throw in divorce, you throw in
dying young. We're going to get into that right now.
But I just wanted to give you the basics of
how it works and why it's such an important thing.
It can become crucial in your income planning during retirement.
Speaker 2 (24:27):
Well, you know, social Security is a pay as you
go system. The ones paying today benefits today's recipients. And
it used to be that it was one hundred Yeah,
it does this one hundred and sixty workers for every payee.
But every time the democratics have shifted, people are living longer.
Now it's five workers per retire, and now it was
(24:50):
then five workers per retire, and now it's two point seven.
Why are people leaving the workforce, That's one of the
things they're saying is and it could be it's baby
boomers the biggest Yeah, we're the biggest contributors to the
Social Security system. So obviously there's changes of god to
be made, whether it's adjusting benefits, adjusting dates, or adjusting payrolls.
(25:12):
And I vote for adjusting payrolls because I think it
was it this year twenty twenty five that they raised
the limit to one hundred and seventy six thousand. If
you make more than that, they take no Social Security out.
I think that's the dumbest idea I've ad, sir, it
is so dumb. So if I could just get to Trump.
You know, he's leaving me messages, Why can't I leave
him a message? He's emailing me every day, So hey,
(25:35):
I want that figure to change because I feel like
we could fix the system that they would do that,
And who came up with that, and.
Speaker 3 (25:43):
Maybe we could make benefits tax free again because they
used to be tax free Aboauck before the nineties. And
you're exactly right. So expanding Wanda's example is if it's
one hundred and seventy six thousand dollars, if you make
one hundred and seventy eight thousand dollars a year, that
extra thousand dollars that you may is free of any
Social Security text. So if you have two brothers, one's
(26:04):
making one hundred and seventy eight thousand, one's making one million,
one hundred and seventy eight thousand, they're both paying the
exact same into the Social Security Administration.
Speaker 2 (26:12):
Crazy, So yeah, it is.
Speaker 3 (26:13):
It is kind of nuts. And so who qualifies for
Social Security? Most everybody does. There are certain people out
there that don't qualify. You know, if you you have
to have forty credits to qualify for Social Security benefits
and you get four credits a year, it's a credit
a quarter, So ten years of employment and paying into
the system and then bam you qualify, your benefit's going
(26:36):
to be low. If that's the case. If you didn't
work a full you know, career, even if you didn't work,
if you're married for ten years or more and then divorced,
you qualify for benefits. So if you've been married for
ten years plus, even if you get divorced, you still
qualify for some of those spousal benefits if you haven't
then been if you haven't been remarried. And then there's
(26:59):
also of the self employed people. So I spent some
time after college, about a year playing music, and I
came in contact with a lot of other musicians, several
of whom are still playing music. And in the music world,
you underreport your income obviously because you don't you don't
make you don't make a whole lot of money, and
so you're getting a lot of times paid in cash.
And at the time, it seems unless your jelly roll.
(27:22):
At the time, it seems great, right, because I mean,
there's more money in your pocket. But this is why
it always pays to think about your future self. What
does that look like when you're sixty two and maybe
you have arthritis in your hands and you can't play
guitar or whatever as well as you used to. That
income might slow down or stop. Your band's not as
popular as it once was.
Speaker 1 (27:41):
Those rolling stones haven't slowed down.
Speaker 3 (27:45):
You got to drink that water that Keith Richards has
been drinking, It's probably not water. But anyways, if that's
your situation and you haven't paid into the system, or
maybe you're a plumber, you're a self employed individual that
underreports your income or not. The we're not telling you
what to do, but what we are telling you is
from a planning perspective, and having that longevity of income
(28:06):
later in life, it's going to put you at a
major disadvantage because you might not qualify for Social Security,
and if you do qualify, it's probably going to be
a much lower benefit. So there's always some give and
take there, so just be conscious of that.
Speaker 2 (28:17):
You know. I had a I think I told you
about this, Greg. I had a prospect one time come
to me that decided not to work with me, which
is fine because I told them the truth. Their CPA
had told them not to pay into Social Security.
Speaker 1 (28:31):
Wow, And I.
Speaker 3 (28:32):
Was like, Uh, how do you do that?
Speaker 2 (28:36):
What do you mean? He told us we didn't have
to pay Social Security? And I went, that's crazy. There's
something wrong here. But because they were going to have
what I was recommend is they start paying because they
were in their forties, y'all, sixty five was coming.
Speaker 3 (28:51):
If you're going to evade taxes, why pay a CPA?
Speaker 2 (28:53):
Exactly so, And because they felt like that I had
cut into their money, their money that they were going
to get, they decided not to work with me because
they felt like the CPA knew more and maybe he
didn't use some kind of thing I didn't know, but
what jail cells I know, and both is exactly right.
You know, one day the piper's got to be paid,
(29:16):
and if you're going to do that, then you can't
come to the trough and say where's my Social Security?
Speaker 1 (29:23):
So yeah, that's right. And talking about just the different nuances,
we run into real interesting things. So here's here's one.
So I had a client died at a young age
in the early fifties, and their kids were under the
age of sixteen. They were like early teenagers. This is
(29:46):
something that widows don't know. Widows don't know that if
their husband dies that they can take a widow's benefit
for their kids under eighteen years old. So this lady
ended up just to amazed that she was getting five
or six hundred a year for her two kids until
they were eighteen based.
Speaker 3 (30:06):
On a lot more than that.
Speaker 1 (30:08):
Right, it depends on year, a month, a month, yeah,
I'm sorry, but it depends on the husband's income. But anyway,
what a God said, that was for her because because
it was least part of that salary that had been
lost was now done. Now when the kids got eighteen,
of course that went away unless they're in college or whatever.
There's all these little nuances there as well, but she
(30:30):
also got some benefit for herself. There is a survivor's benefit.
Another interesting thing, and I'm talking about this because when
people pass away, people get all these weird feelings and
thoughts about it. But in this case, once the kid
turned sixteen, she was still like in like fifty six maybe,
(30:53):
so she couldn't get any more income from Social Security.
But it's sixty The normal start age for SOB security
sixty two. But a widow can start at sixty, so
they get an extra two years of SOBI security from
the ex deceased person's spouse. So anyway, again little nuances
(31:14):
that you may not know. So if you've experienced death
in your family or somebody you know and they have
young kids, or it's a widow who's fifty nine years old,
she probably has no idea that at age sixty she
can get SOBI security income. So call us at nine one, nine,
eight five six, nineteen sixty eight and let us walk
you through this and meet with you and explain there's
(31:36):
all kinds of things inside of the SOBI security world
that are just not known or unknown or rarely known.
Speaker 3 (31:43):
And if you fall in love at age fifty nine
again and you're a widow, just wait until after you're
sixty to get remarried, because if you get remarried, you
no longer qualify for the widow's benefit. But if you
get remarried after sixty, then you can still take the benefits.
So again, there's so many little nuances, as Greg alluded to,
and the Social Security rule book looks a lot like
(32:06):
the Bible because there's just so much in there. And
so it is important to be working with an advisory
group and a financial planning group that can help you
navigate all these complexities and figure out what works best
for your situation. Our number again nine one nine eight
five six one nine six eight. We got one more
break coming up and one more segment on social security
(32:26):
and how you can take advantage of it.
Speaker 1 (32:28):
Bear back Welcome back to The Greg Kicks Show. We're
in segment four, the fourth quarter of the game, and
it comes fast. We're talking about social security today, how
it works, some ideas and strategies to accelerate and benefit
your family, as well as mistakes to avoid. In the
next three weeks, we're going to talk about retirement planning,
as state planning, and inheritance. So there's a lot going
(32:50):
on in this month of April, and we hope you'll
enjoy our shows. We're on podcasts the Greg Kicks Show.
Just pull that up and you can hear all kinds
of topics on our shows and so forth. Also, remember
our website frm NC dot com. That's Financial Resource Management
in North Carolina FRM inc dot com and check us out.
(33:13):
Give us a call at nine one nine eight five
six nineteen sixty eight as well, and we could calls
every week from the radio show. You may even have
an advisor already. I talked to a person this week
that was pretty pretty astounding. They met with their advisor
and the advisor didn't give them a return chart or
(33:36):
a piece of paper or even a website to go
and see how they were doing. The last couple of
years and I'm like, wait a minute, what was that
all about. So we run into stuff like that. We
run into people who who take big, large inheritances and
put them all in different annuities and call it diversification.
We see that, we see the weirdest stuff. So we're
(34:00):
not saying we're perfect. We're saying, come and get a
second opinion. So I would say probably half of our
radio listeners that we meet with our second opinion, like,
tell us what we're missing here, and another set of
eyes is extremely valuable because you're missing stuff like that
sometimes and you don't even have a clue what you're missing.
Speaker 3 (34:22):
Also understand to Greg's point that if you hear of
an idea or a solution that sounds too good to
be true, it probably still is even outside of the
annuity world, because I know in radio land there are
some other ideas that are floating around with other financial
professionals about doing Wroth conversions for a very very minimal
amount of money. Taking a whole lot of money from
(34:43):
your retirement account that's pre tax, moving it to WROTH,
but you're discounting the money that you send over there.
And I had a client mentioned this strategy to me
in my response was all right, well, let's just take
a step back and look at this from a thirty
thousand foot view, was with the common sense, got you're
telling me that the IRS who is going after six
(35:04):
hundred dollars payments or more that Grandma sends little Joey
And now they're armed. They armed the IRS a few
years ago. They're going to be cool with you taking
your million dollar IRA and sliding over to a roth
at one hundred thousand dollars basis No, absolutely not. That's
gonna make you target for a huge audit could potentially
invalidate your IRA. There are some great strategies out there,
(35:27):
but again, when you hear something that might seem a
little crazy and too good to be true, that's the
time that really warrants a second opinion. And a good
number for that second opinion is nine one nine eighty
five six one nine six eight.
Speaker 1 (35:38):
You knew about tax as well?
Speaker 2 (35:40):
Yeah, well, I do want to talk about that because
I think the misinformation out there is you wouldn't know
any taxes on your Social Security or or all of
his taxed or something like that. And actually the truth
is up to eighty five percent of your taxpayer benefits
can be taxed. And I had a situation just recently.
(36:00):
The client lost her husband last year and her son
moved in with her. And I won't go into any
details about why that situation is going on, but she
called me and she said, oh my gosh, Wanda, I
owe fifteen thousand dollars in taxes. And I'm thinking why
because I know her situation, I know her income, I
(36:22):
know all of that. And I was thinking in my
head as I was preparing to send her this money.
Before I did it, I was like, something's wrong. So
I called her back and I said, look, I don't
I think something's wrong. Are you doing TurboTax? She said, yes,
my son's doing it for me and he's very smart,
which I agree he is smart. I met him. But
(36:43):
I said, let's let me ask you this. Your son
has moved in with you, right, and she's like yes.
I said, well, you can fall head of household, which
gives you a bigger you know, what's that called deduction
standard deduction. So and I said, look, I'm not a
but call TurboTax and go over the qualifying factors of
(37:04):
head of household and also you're not taxing all of
your social security. You know, if you make more than
thirty four thousand a year other income, then yes, you
would have eighty five percent of it, but under that
you wouldn't. And so she got TurboTax on the phone
and sure enough she could qualify for head of household.
She ended up calling me back and she only needed
(37:27):
four thousand dollars nice, so that was a big jump
from you know, fifteen to four, so it was kind
of kind of cool. And she said to me, I
want to let you know that my son, who doesn't
trust anybody, wanted me to tell you himself that you
did it today. I said, what did I do? She said,
you earned his trust, So you know, so anyway, there's
(37:49):
just a lot of misinformation about taxes and social security.
So you do need to make sure that if you're
doing TurboTax, think through it and get somebody, get them
on the line, is they have a help desk, and
make sure you're filling out this stuff correctly.
Speaker 3 (38:04):
But it's a very good point about the interconnectivity of
other income and then what happens to your social security
and how it's taxed. Most of our clients are taxed
at that eighty five percent because the threshold is kind
of low. And you know, there's what's called a cost
of living adjustment with Social Security, and that is to
increase with inflation on an annual basis, and they release
that number typically at the end of the year, and
(38:24):
they say, Okay, inflation was bad this year, We're going
to give you a five percent bump, or you know,
you get a whopping one and a half percent two
percent bump on your Social Security benefits. We have had
clients that have called in and said, hey, you know,
they announced this big benefit last year in Social Security,
this big increase, but my social Security went down. What
is that all about. Well, back to the interconnectivity of things.
(38:45):
It's important to understand that oftentimes your Medicare payment, if
you're over sixty five, is taken directly from your Social
Security check, and the income that you receive determines how
much your Medicare costs. And so if you you are
if your husband or wife is still working and you're
taking spousal Social Security and you're on Medicare, well, then
(39:07):
your income might be high to a point that you're
getting deinged on Medicare payments. And your Medicare payments are higher.
So just understand that social Security the net amount that
comes into your bank account. There's a lot of factors
that can pull some value out of that, and a
lot of those are driven by the total income you have,
(39:27):
and so it's important to work with an advisor that
can help you navigate that and potentially reduce some of
your maybe unnecessary income from your portfolio and your investment accounts.
Nine one nine eighty five six one nine six eight
is our number.
Speaker 1 (39:40):
Let's talk about widows and divorce people. There's a lot
of rules there. When someone dies and you're married, both
of you will get Social Security until someone dies, or
maybe you're already getting Social Security. The way the system
works is the higher of the two. So let's say
the husband died, he had a higher Social Security benefit.
(40:02):
The wife had a lower benefit because she spent fifteen
years raising kids along the way. When he dies, she's
going to get the higher of the two, so her benefit,
her income will go away, but his income will be
replaced replacing her. So that's something that's very common. Usually
in a marriage, one person dies first, so the higher
income benefit stays, the lower goes away. Another one is
(40:26):
if you're divorced or second marriage, if you get I
had my wife pass away unfortunately a few years ago,
and I remarried. But I was surprised when Laurie and
I married she lost her husband's death benefit situation in
the future, but she only had to be married to
me nine months. This a nine month that's kind of sure.
(40:47):
I thought it'd be two years. It's nine months. So
when ten months came, I Saidlaurie, guess what if I die,
you get my social Security. She was like, what, nothing
to celebrate because I would have to die first. But anyway,
point being, that's true. And then and then we mentioned
briefly while ago, if you're married ten years to someone,
(41:07):
Let's say you're married to a doctor for fourteen years
and get divorced. When you get to your social Security
retirement age, if you're still single and you didn't work
a lot, you can actually get half of your divorced
husband's income. So as a doctor, perhaps he was going
to get a pretty high social security So again all
(41:29):
kinds of ways. I had a client this year this
past year. She said, well, I didn't worry. I didn't
get ten years or forty quarters of work, so I'm
not eligible to get so security. I said, I think
you're eligible to get half your husband's even if you
didn't work that and she went, really, I said, call
SOID security. A month later they called me back. She
(41:52):
was like giddy as can be. She started getting her
first Social Security check. Again, you don't know this stuff. So,
by the way, we know enough to help you. But
we also have access. Like Wanda talked about, we have
a guy that works at SOB Security. We have a
list I'm looking at it right now of website at
SSA dot gov. All these questions are covered in that
(42:16):
website and you can find it and real quick. One
thing both said while ago Laurie. My wife, Laurie turned
sixty two and we decided to take her as early.
Let me tell you why. Sometimes that's smart because my
first wife died at seventy. She took SOB Security at
sixty two. What if she had waited to get that
(42:36):
bigger Social Security check at seventy, she would have gotten
maybe three months and died. You don't know the future.
So sometimes I hate when I read articles about so
security always wait till seventy, because look how much you're
going to get but if you die young, if you
die in your early seventies, you've wasted a boatload of income.
(42:57):
So if you're a married couple, we sometimes recommend one
of you take it early and one of you delay it.
And sometimes I'll say both of you take it early.
Speaker 2 (43:06):
But that's all the more reason too. For sometimes a
husband and wife, especially if the wife was a stay
at home, worked at home mom, it's good for the
husband to delay his Social Security turn on because it
matters for her.
Speaker 3 (43:18):
That's right, That's exactly right. Part of the strategy is
the survivorship benefit, and to back up really quick to
the to the divorce benefit. If you're longer than the
if you're married longer than ten years, you can get
half of your spouse's benefit. Johnny Carson used to joke
about this on his show. I think he was married women. Yeah,
(43:39):
four times for longer than tenars. So this marriage last.
The marriage has lasted. I mean, sure he was. He
went through some women, but at least it wasn't quick.
He paid about one hundred and twenty one thousand dollars
into the Social Security Administration over the years and received
over four hundred and fifty thousand dollars in benefits. So again,
(43:59):
those are some of the reasons, as we mentioned earlier,
that the Social Security Administration might be breaking and cracking,
and so I think we need to ship wind up
to DC fix all this stuff.
Speaker 2 (44:09):
Two women, that's all you get. That's right.
Speaker 1 (44:12):
Yeah, way, I've put a limit on the marriages there.
But anyway, what a show. We just touched on it,
and we hope you wetted your appetite and you realize
how important this is. So give us a call at
nine one nine eight five six, nineteen sixty eight. Next
week we're going to talk about retirement planning and we'll
cover a little bit more on Social Security on that show.
Two weeks from today we do a state planning within
(44:34):
the state Attorney friend to give us guidelines on that.
So we're thankful that you listen today. We'll help. You've
learned a lot, give us a call. The best way
to do it is apply all the things we talk
about over these weeks into your personal life nine nine
eighty five six nineteen sixty eight. And with that, remember this,
it's your money, it's your future, don't blow it.
Speaker 3 (44:55):
Advisory services through Couple Investment Advisory Services LLC. Security is
offered through Capital Investment Group Bank Remember Finra in SIPIC
one thousand, eat six Forks Road, Raleigh, North Carolina, nine
one nine eight three one twenty three seventy. HOST performance
is not indicative of future results
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