Episode Transcript
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Speaker 1 (00:13):
He served at the Pentagon as an army jag. He
graduated from Notre Dame and has two law degrees from
Boston University and Georgetown University. He's been practicing law for
over thirty years. He's your family's personal attorney. It's time
for the David Carrier Show.
Speaker 2 (00:34):
Hello, and welcome to the David Carrier Show. I'm David Carrier,
your family's personal attorney. And you have found the place
where we talk about estate planning, elder law, retirement law,
business law, real estate, you name it, we talk about it.
If you give us a call sixty one six seven
seven four twenty four twenty four. That's six one six
(00:56):
seven seven four twenty four twenty four. We'll get your question,
comment or concern on the air now. As we tried
to talk about the first first hour, fellas occasionally, you know,
you're your significant other there, you're a woman there, she
gets a little bored, right, am I right? She gets
(01:16):
a little Hey. You know how we how come we're
doing the same old thing? And you say, well cheaper
is at our age? I think the same old thing.
If we can do the same old thing, that's well,
you know, we're ahead of the game, but occasionally what
you want to do, which I would suggest, which I
think is a good idea, suggests something new, something different,
(01:36):
something you know, bring a little jazz back, a little
spice back. And in my in my scouring the globe
to bring you the constant variety of sports and entertainment
for you know, the date night kind of thing people
do date nights. I don't know if you know that
highly recommended. But anyway, so if you're doing the date
(01:57):
night thing, and this picture of the bull right anyway,
so PBR, all right, now, back in the day, back
when you're in high school, PBR had a meeting in
the courtship ritual. Yes it did, I don't deny it.
But PBR these days means something else. It means professional
bull riding. And so you know, we spent a couple
(02:18):
hundred bucks, got out our cowboy hats out of the
frankly they were in the Halloween the Halloween bin, and
went to see professional bull riding. I don't know the
only familiarity I had with professional bull riding other than
it was in town this weekend, and well I knew
a ferrier, a guy you know who shoot the horses.
(02:40):
Back when I had a farm and this guy, I mean,
he was like I don't even think he was twenty,
but he moved like arthritic, you know what I mean.
He was just so into the whole bucking bronco and
all that kind of thing that he broke in like
every bone in his body is terrible and be very
good with the but like I said, I didn't take
(03:02):
care of themself anyway. The point and that plus so
that was one experience plus wide world of sports. You
know how in wide world of sports, spanning the globe, concert,
variety of sports, real victory, agony, defeat, all that kind
of thing. Well, with wide World of sports, they would
do the bull riding every once in a while, and
it looked like the kind of thing which I now
(03:22):
realize was creative editing where things happened quickly and all
these guys managed to stay on right. Well, I find out,
I find out that you've got to have an eight
second ride and out of like I don't know, it
got to be at least thirty cowboys there right riding
these things. You know how many stayed on three three
of the grown ups maybe two, and then and then
(03:47):
of the junior edition we have these little kids riding
the little I think three of them stayed. I think
maybe five people got scored that night because everybody fell
off before the eight seconds was up. And it made
me think of, well, like everything makes me think of
estate planning. You know, what is the kind of retirement
planning that people are doing, you know, from the legal
(04:08):
end of things, And so often it's not like like
these guys look good, you know what I mean. They
had the chaps, they had the hat, they had the helmet,
they had all their stuff, they had their thing to
hold on to the bull with. You had these bulls
that were fabulous. You know, it's all set up. You know, thousands,
literally thousands of people are watching these people try to
ride the bulls, and two seconds later, one point eight
(04:31):
seconds later, you know, fractions of a second later, they're
off on the on the ground. They didn't hang on
long enough. So out of like thirty, there's like three
that qualified. And they show their statistics for how long
did you just stay on long enough to get scored?
And there's like ten percent of the time, like this
(04:52):
guy's coming out of the shoot and you got a
one to ten chance they're going to hang on long
enough to you know, to at least get scored. Okay, which,
of course, as I say, brings me back to the
whole doing trust, doing wills, doing all the rest of
this stuff. Okay, you may wish that you did it.
You may think that, oh, I'm going to have a
(05:14):
good ride this time. Okay. You know, I got my
strap on here, I got my chaps, I got my
cowboy shirt, I got my and I swear to god,
these guys were wearing flat jackets underneath because they were
kind of bulky. Was one guy who had it on
the outside. But you know, you see the guy gets
stepped on by the bull. You know, he's dragging one
leg as he limps away. Yeah, terrible, Almost as bad
(05:39):
as being you know, I don't know, a radio talk
show hoster or an attorney or something. Almost almost that bad.
But the point is that these guys are trying really
hard to do the right thing. And it reminds me
of folks trying to get an estate plan done right.
You're trying to do the right thing. You're listening to
the experts. You've got the equipment, got the bull, you've
(06:00):
got the arena, you got the audience. All this stuff
and yet very few people actually succeed even in staying
on long enough right to get to the point where
you get judged right. How like a state planning? Is
that where people? Yeah, you go through the probably meet
(06:22):
with the lawyer, or you download the CD, or you
listen to somebody or you you know, tapes or YouTube
these days or whatever. Right, and you know, you look
pretty rough and tough. You look like, oh, I got
all this stuff, and you know, and then you know,
they open the gate, out you go, and two seconds later, boom.
(06:42):
Now you find out what reality is like. And reality
is a sawdust floor on the van Andel arena, you
know what I mean. It's you don't even get scored.
You know, it's terrible. So anyway, my advice to you
two pieces of advice. Number one, want to bring a
little spice back into your relationship. Right next time the
(07:04):
professional bull riding tour is in town. Don't miss it.
Don't miss it. It's it's it's it's not cheap, I
have to say, but it's it is a lot of fun.
See it was we had a choice. We could have
done the bull riding or gone to a musical theater
at at the other place. At the boss Ports and
guess which one I wanted to do, and and and
(07:26):
this time it's like, well, yeah, let's go to let's
go to. My bride said, yeah, let's go to the
bull riding. That'll be fun. I got, I got. She
actually bought a cowboy hat in Texas like years ago
and has never had an occasion to wear it. So
she got to wear her cowboy hat and her sparkly jacket.
So that was nice. And we got to see the
professional bull riders, which gave me the material for this
(07:48):
segment of the radio show. So you see how when
good things start to happen, they snowball bad things when
they start to happen, they snowball riding these bull ride,
watching these bull riders. You know when you get a
little twist and the bull goes the other way. Oh,
pretty soon you're gonna be hitting the dirt. Right, it
ain't gonna work out for you. You're not gonna get your
(08:09):
eight seconds in. You won't even accomplish what you try
to accomplish. And I got to tell you, you know, they
tried to keep it exciting and whatnot. And I'm sure
that the people who showed up, who show up for
these things routinely. That's what they expect. Okay, So if
you're involved in the whole retirement law, the whole estate
(08:34):
planning thing, you know that things are going to fail
an awful lot of the time, most of the time,
vast majority of the time. But like the bull riders,
they fall off before they make the eight seconds before
they finished the ride. Okay, everybody expects that. When you
go in there, people weren't disappointed. They were not disappointed. Okay.
(08:54):
I was like, where's my wide world of sports experience,
you know where everybody stays no, no, no, no, it
doesn't work like that. And if you know what's going on,
you know it doesn't work like that, you're not disappointed. Okay.
But it's like with the state plan. You think they're
gonna do it, You think it's gonna work. You think
you're not gonna go broken long term care. People who
(09:15):
know what's going on know it's a different no, it's
a different story, right, And so maybe it'd be better
to be prepared right instead of surprised when reality hits.
We've got Jim from Cadillac, all the way from Cadillac,
Holy Cow, Jim, Welcome to the David Carrier Show. Oh,
he dropped, well, you can call me back, that would
(09:35):
be great, And he said, did he make a mistake
of doing a will instead of a trust? That really
depends which one is right for you. Okay, I mean,
maybe it's flower arranging that you'd like to do as
your recreational activity. Maybe it's riding bulls who've been trained
(09:55):
to throw you off and then stomp on you. Maybe
that's what you'd like to do for recreation, or maybe
it's something maybe it's something in between. But there's a
wide range of things out there. Wills are not terrible,
they're not inherently bad. They're just not the tool that
should be used for most people. I'll give you an
example when we get back dealing with mother but father,
(10:19):
actually father and daughter. We just did this Sun on Friday.
Just shows the difference, the difference between the two different ages,
different a different asset profile, different prospects for life, you know,
just a whole bunch of different factors dictate a different result. Okay,
there is no one size fits all with this stuff.
(10:42):
Like the like I say, the cowboys who got thrown
off the bulls, more often than not they had all
different kinds of equipment. Right. They all had helmets, that's
for sure, but the way they went about it, you know,
their techniques and everything, they're different. Right. Part of that's personal.
Part of that is what kind of bull am I
riding here? You know? What is my what is my role?
(11:04):
What do I want to accomplish? Those are Those can
be very different for different people. Not surprising even listening
to the David Carrier Show. I'm David Carrier, your retirement
law specialist.
Speaker 1 (11:33):
This hour of the David Carrier Show is pro bono,
so call in now at seven seven twenty four, twenty four.
This is the David Carrier Show.
Speaker 2 (11:42):
Yeah, wellcome back to the David Carrier Show. I'm David Carrier,
your retirement law Graham Kuba specialist. Wherever you want to
call me for people who are retired, wish to be retired,
know somebody who's retired or just kind of dreaming of retirement,
whichever it is, give us a call. Six one six
(12:03):
seven seven four twenty four, twenty four. Retirement should be
the nuts on the on the Sundays should be the
cherry on top. And for an awful lot of people
that winds up on the floor. Let's not let that happen,
shall we. Six one six, seven, seven four twenty four
twenty four is the number to call. We've got We've
got Don on the line. Hello, Don, Welcome to the
(12:24):
David Carrier Show.
Speaker 3 (12:26):
Sollo Davis is Donald from Lansine. I am I am
fifty eight years old. I'm married a girl from the
I married a girl from the Philippines that she is
forty four years old and just started working. So by
the time she gets to retirement age, she will not
(12:46):
have a full thirty five years of income to do
the calculation to draw social Security. So I'm assuming I
should work till I'm seventy to max security because she'll
hapen to draw off of mine. Or is there a
special calculation for her because you won't be here thirty
(13:07):
five years?
Speaker 2 (13:10):
Well, what's the thirty five year thing? It's ten ten
accountable quarters before you get your own Social Security.
Speaker 3 (13:17):
Okay, I guess that. I thought you had that. I
thought the calculation was they take the highest thirty five
years of reported income to figure out the formula of
how much you get a month on Social Security.
Speaker 2 (13:34):
No, no, but as your as your wife, she's entitled
to half of your half of your benefit. Okay, Now
here's here's the thing. As you point out, you the
Social Security increases eight percent per year after sixty two.
So if when you retire, if you're sixty two years old,
(13:56):
when you retire, right, then then the Social Security is
calculated a certain amount From then till I think it's
seventy or seventy one or something like that. Every year
that goes up, your retirement benefit increases increases by eight percent.
Are you with me on that? So it goes up
(14:16):
eight percent per year, believe right?
Speaker 3 (14:19):
So people are my generation that max is out at
seventy Yeah, right.
Speaker 2 (14:25):
That's right, So that that sounds right. I just didn't
want to raise my hand on the put my hand
on the Bible and oh yeah it's seventy. I think
I think you're right. Anyway, the point is, and of
course it will be it will be higher in the
future one expects. But the point is that for every
every year that goes on, it goes up by eight percent.
(14:46):
And so a lot of folks say, ooh, eight percent,
that's pretty good deal. I'm gonna I'm gonna put off
my retirement. Now, if you put off your retirement for
reasons like you enjoy your job. Yeah, you're well paid.
It doesn't hurt you. You know. The whole retirement thing
is not is not the great thing in your opinion. Whatever. Okay, fine,
(15:09):
But the reason it's eight percent, okay, social Security, the
Social Security administration. They're not dumb, they're not stupid. Okay.
The reason it's eight percent is not to be nice
to you. It's eight percent is the increase because actuarily, right,
if you look at everybody, it doesn't matter if you
(15:32):
take it at sixty two or seventy, the payout from
Social Security is going to be the same because you're
gonna be dead, all right. Yeah, you might have gotten
you know what, twenty four percent more you wait three
more years. Yeah, but it's going to take you till
your past normal retirement age before you recoup the benefit. Now,
(15:52):
my dad, my father, right, he screwed them all. He
lived to ninety six. He took one hundred percent of
his teacher's pension and Social Security right now. He should
have been dead a long time ago, but it was
it was mom who passed first, right, and Dad lived
in ninety six. He won, He beat it. Okay, great,
(16:13):
wonderful for him. We got his you know, he got
a new knee when he was like ninety two years old,
which they don't do, and all the rest of this
great stuff. So he was a winner, you know, when
it comes to putting in taken out. But the fact
of the matter is whether you're sixty two or seventy
or whatever actuarily you're going to if you're just playing
the odds, you're going to take the same amount of
(16:36):
money out. Now you've got forty four year old woman
there right, who's going to be claiming on your so
security you die, she gets a survivor benefit right now,
if you have good habits, right, if she takes good
care of you, right, you're eating the tayrot and she
cut the salt out of your diet, and you know,
and like that. You know, maybe get a little more
(16:58):
exercise than you would have other then okay, maybe your
life expectancy gets expanded and you say, oh, well, you know,
i'll probably make the money back. Plus she's younger than
I am. Will she have the ten accountable quarters? No?
Probably not so, okay, or how however many quarters it is.
I have to look that up to verify. But The
(17:21):
point is that that if she's claiming it, you got
to be thinking about it, Well, should I increase it?
Should I keep working because I don't hate my job
and it's not going to kill me? Should I keep
working to increase that social security? Because she's going to
get half of it. She's going to get half of
it anyway, do you see? So, yeah, when you got
(17:44):
a much younger wife, and I'll tell you what it's
happening now, more and more we're meeting families you know,
used to be married your high school sweetheart and you
were the same age or just about. And now we're
seeing ten years, fifteen years, twenty years difference between men
and women in a relationship, right in a marriage. And
(18:06):
so you've really got to you know, you got to
be thinking, you know, how is that? How's that going
to work? Because she's got to make it twenty years
after you're gone. You know, ten years for being a woman. Well,
what'd you say? Fourteen years difference? So she's got to
make it twenty four years after you're gone. How's that
going to work? Okay? One of the you know, what
(18:27):
savings do you have? Right if we give them to
the nursing home because you get the dementia. Now she's
got to make it for ten years because she's a woman. Bonus,
it's usually it's really six, but I say ten plus
fourteen years age difference. Now she's got to make it
twenty four years on what the state to let you have. Well,
that's not a good deal, Okay, So that's why we
(18:48):
plan for the long term care. Right. But when when
it comes to when it comes to what you're talking about,
should you should you you know, keep earning in you know,
yearning and all the rest of that stuff. Should you
keep bumping that up when it comes to you yourself,
(19:10):
The numbers say no. The numbers say no, it's the same.
You're going to get the same economic benefit from social Security.
Now if you keep working, that's a different economy. That
changes the equation. Right, But if you're looking just as
a matter of pulling from Social Security doesn't matter when
you take it. They're convinced that, given the big numbers
(19:33):
they're dealing with one hundreds of millions of people, that
it's it's going to be the it's going to be
the same. Does that help?
Speaker 3 (19:43):
Yes day? So at seventy I could still be working
and grow social Security.
Speaker 2 (19:50):
Yeah, once you reach once you reach full retirement age, right,
which for you is going to be what sixty six
or something sixty seven. Yeah, So once you reach full
retirement age, you can draw your Social Security, your six
aged sixty seven social Security, and they won't, you know,
they won't impose the fifty percent take back fifty percent
tax on the on your excess earnings. You know, because
(20:14):
if you're if you're working, if you're retired at sixty
two and you're still working, if you go above the threshold,
they take back half of your Social Security dollar for dollars,
so it's like a fifty percent tax on your earnings.
So people do all kinds of things to maneuver that around.
But once you reach full retirement age sixty seven, then
you can work all you want. They don't care.
Speaker 3 (20:37):
Oh excellent. Yeah, I kind of like my job, so
I'll aim for sixty seven, do social Security, and keep working. Yay.
Speaker 2 (20:47):
You know, it's amazing how guys named Donald you know,
they just keep working and working. They seem to enjoy it.
Speaker 3 (20:54):
Yes, And what I really like is the president and
vice president are both married to females that are immigrants.
Are like I totally relate. I have a Philippine. Here
you go.
Speaker 2 (21:07):
I love it, guy, Thank you, don thanks for calling.
Take care now. I've been listening to the David Carrier Show.
I'm David Carrier, your family's retirement lawyer.
Speaker 1 (21:37):
David's got the how too you're looking for? Just called
seven four. This is the David Carrier Show.
Speaker 2 (21:46):
Welcome back to the David Carrier Show. I'm David Carrier,
your family's retirement lawyer. What does that mean? I don't know.
I'm making up as I go along. What sounds so
much better than elder law? Don't you think? You know?
I wish I could come up with it as a
buddy mine and said, hey, we're older, we're retirement leaders
from now on. I said, yep, that makes so much
(22:08):
sense because why because these issues? See estate planning. Your
estate is the leftover stuff when you're dead. Okay, that's
what your estate is. And frankly, truth to tell, nobody
wants your stuff. You know all that china, you know,
beautiful porcelain china and stuff that you saved up for
(22:29):
and oh you know you put it out of Thanksgiving.
Nobody wants it. You can't give it away. I've got.
I really like grandfather clocks. Okay, I just love them.
I like the TikTok of them. I like the bog bog,
I like the grandfather clocks. Okay. If I pay more
than ten percent of the retail price for a Grandfather clock,
it's because I really really like that one. Because why
(22:51):
because they lose ninety Nobody wants grandfather clocks. I do.
But you know, thing to listen and there's no I'm odd, Okay,
So just be thinking as you you know, as you
go through. It's not about the stuff that you leave
when you're dead. It's about the way you live your life.
(23:12):
That's retirement. Okay. Now, for an awful lot of folks,
retirement is like the end of everything. It really shouldn't be.
You really need My suggestion would be you need to
have something to retire too. You're not retiring from work,
You're retiring to a new life. Okay. Don't be thinking
(23:35):
you're gonna be watching TV and you know, and drinking
a beer or something like that and not how it works. Okay,
I'll tell you what we have more and this is
just anecdotal. Okay, I don't have any I don't have
any statistics for this. I don't know what the statistics are.
I don't know. It's just anecdotal, just kind of what
I've seen in thirty five years. Maybe in my opinion,
(23:56):
has some values of mine or small value. I don't know.
But what we see is people who work the line.
You know, GM employees seem like because that's what we
had around here with GM plants. Those guys don't survive,
They retire and boom, you know, you're sending out the
condolence card because why. I mean, maybe it was the
(24:20):
hard work. Maybe I don't know what it was exactly,
but I suspect that a big part of it was
they weren't retiring to something, they were retiring from something. Okay,
does that make sense? When you're when you are retired,
it's going to be a lot harder than you think,
a lot more difficult. You know, my dad went to
(24:41):
Mass every morning. You know why he went to Mass
every morning? Well, in the hopes of a glorious resurrection,
of course, but you know he's to be on a
good side all that. Well you believe that all that, Yeah,
But he told me, he says, he says, David, you
know why you go to mass every morning. I said,
for those reasons, all right, and glory gott and all that,
and he's like, yeah, yeah, yeah, that's all true. He goes,
(25:04):
but I need a reason to get out of bed. Now.
This was in his nineties and he had done all
kinds of volunteer stuff, reading, you know, blah blah beforehand.
Kept he kept engaged. So he made it to ninety
six and he was still doing you know, he did
a woodwork finished his last woodward wood working project. A
couple of weeks before he passed. He was making a
(25:25):
step so a friend's wife could climb up into bed,
you know what I mean, like a little step stool
kick under the bed, you know, very nice little thing,
very handy. That was two weeks before he passed. That's
what you that's what you really need. That would be
That would be my suggestion. Do retirement planning. That's what
this is all about. How do we hang on to
(25:47):
your stuff for you while you're here? Okay, There'll still
be plenty to pick over after you're gone. Don't worry
about that part, okay, or if you want to worry
about it, which is fine. You know, I want to
leave a mess. I get that. You don't want chaos.
You don't want them to remember you. Oh, poor Don,
you know, left such a mess, pitiful, And it's like,
(26:09):
what do you mean pitiful? I was here, you know,
eighty years, I did all kinds of great stuff, and
they all they remember about me is the last thing,
which was, you know, my estate plane got screwed up,
blah blah. You know, Oh yeah, you know Don, Oh yeah,
you know he worked so hard and did all these
great things and always preaching thrift and stuff like that.
And then you know his wife, Mary, you know, she
(26:31):
had to go twenty four years on nothing right because
why because he didn't plan ahead. Oh, poor Don, Poor Mary. Oh,
what a pathetic tale that is to tell. Okay, that's
a story. You can tell that story. You've told that story.
You've heard that story about folks, right, No, and then
and then frequently, which really annoys the hell out of me.
(26:55):
Oh but there's nothing you could do about it. Oh
but there's nothing you can do about it. What kind
of nonsense. Of course there's something you can do about
That's why we do the Three Secrets workshops. That's why
we do the How to Be a Good Trustee Workshop.
How to do how to be a good beneficiary workshop.
That's why we do all this stuff to say, that's
why I'm here this morning. It's all about No, you're
(27:17):
You're not pathetic, you're not bereft, you're not powerless, you know,
I mean, how do you feel about people like, Oh,
there's nothing I can do. Let all the bad stuff
happen to me. Yeah, dump another bucket of you know
what on my head because there's nothing I can do
about it. Oh, those bad people they're doing it. It's
(27:38):
like what what? Wake up? Wake up, do something, be active.
You can do it. You can do it right, you really,
you really can. And it's all the difference between you know,
leaving a mess that's a cautionary tale and actually leaving
a story to tell about how you did it, why
(28:00):
you did it, and everybody. This is the one thing
that I've learned over thirty five years. And we're like
at one hundred and twenty thousand contacts, one hundred twenty
thousand file reference numbers. So it's not one hundred and
twenty thousand people hired me over the last thirty years, No,
but it's one hundred and twenty thousand people who we've contacted,
we've talked to. Sometimes it's family members to get their
own file. You know, that's just our filing system. But
(28:22):
it's it is accurately about one hundred and twenty thousand stories.
You know that you've heard, and there is nobility, and
there is there are things to emulate, and to a
point too, with pride in everybody's life. I mean, it's
amazing what people what people do right, and then they
fumble the ball in the one yard line. Everybody forgets
(28:43):
about the ninety nine yards you ran. And all that
remember is that you fumbled it. Well, maybe you shouldn't
fumble it right, And speaking of fumbles, this is really
stupid on my part. We were talking to Donald whose
wife is newly the immigrant legit and all the rest
of that stuff. Yay, we like that big open door,
(29:04):
big beautiful open door. All you have to do is
follow the procedure and you come in there. You are.
My wife did it? Don you know? Dj T, the
vice president's wife did it. You can do it. It's
it's not impossible to do, it's not easy to do,
but it's a righteous thing. Anyway, don we were talking
(29:28):
to him and I said, you need ten quarters to
qualify for Social Security, which is ridiculous, right because ten
quarters is two and a half years. No, you don't qualify.
It's ten years. It's forty quarters four zero quarters, which
makes me wonder if that's where he picked up on
the idea the Remember he said thirty five years to
qualify for to qualify for Social Security. It's not thirty five,
(29:52):
but maybe he was thinking quarters, which is the only
number that even comes close. But it's forty nowadays, it's
forty quarters. So you have to you know, you have
to earn like eighteen hundred bucks or something like that
per quarter in order to have a creditable quarter for
the for the Social Security. So that's how, that's how
the Social Security. That's you know, really stupid mistake on
(30:15):
my part. It's not ten quarters, it's ten years, right.
In other words, it's forty quarters, and you can spread
them out over more than ten years. Okay, you can
do that, but it's still it's still forty creditable quarters
before you qualify for the Medicaid. You've been listening to
the David Carrier Show. I'm David Carrier, your famili's retirement attorney,
(30:38):
inviting you to one of our three Secrets workshops. Do
these every week. The Good Lord brings no excuse, no
excuse not to come to one. Just go to the
website David Carrier Law dot com sign up for one
that's near you.
Speaker 3 (30:55):
The time.
Speaker 1 (31:13):
I saw my love, David's hurking and working and taking
your calls. Now this is the David Carrier Show.
Speaker 2 (31:24):
Welcome back to the David Carrier Show. I'm David Carrier,
your family's personal attorney. You know, are featured performing intro
and outro music. Does Gladys Knight and the Pips. And
I thought I thought she had passed just looking up
her biography still kicking, huh, And just she did opening
(31:44):
for the Olympics recently in twenty nineteen. So there you go.
Not that long ago. Isn't that amazing? But you know
what's amazing is the we have to think about the
significance of the passage of time. The time passaging is
very significant because that is the significance of this time
(32:07):
passing of time. But anyway, I guess it is significant
that time passes by. But think about think about this.
It's just striking me that, you know, Notre Dame lost
the National Championship, of course. I mean they played for it,
which is wonderful, but they lost, and there it is.
You know how long ago that was. It's not even
(32:30):
a week. It's not even a week now. Maybe you
don't care about that, right, and maybe you won't care
about the Super Bowl either, right, But think about this.
History is moving so fast right now. Time is moving
so fast right now that it was only a week ago.
Doesn't it seem like a long time ago? You know
that there's all this build up for the collegiate National
(32:51):
Championship football game and all that, and then it's over
with and it's done. I mean, and it was only
a week ago. I don't know. I don't know about you,
but well, my folks always said, you know, the older
you get, the faster time passes. So maybe that's maybe
(33:12):
that's all that's going on. Or maybe we're living through
a period of time in which time is compressed because
so much is going on and you don't want to
get political about it and all the rest. I get it.
But you know, we have these fires and then we
have this is happening, and that's happening in two hundred
executive orders and whatever you think you may think it's good,
(33:34):
you may think it's bad, you may think it's in between.
I don't know that. That's not the point. The point
is that things are happening so fast, so rapidly now
and again, maybe this is idiosyncratic, Maybe it's just the
way I feel about it. Since Notre Dame lost, I
(33:55):
don't know. If they won, maybe I would think it
was it was a very long time, but very very
short period of time. But the point is that the
world is unfolding, seems to be unfolding more quickly, more
quickly than it has doesn't It is that how it
feels to you. One of the things that we've been
(34:17):
doing have been you know, and I think part of
it is part of it is that we're the grown
ups now, the baby boomers, right. I was born in
fifty seven, nineteen fifty seven, so I'm not exactly a
baby boomer, but they say it goes to nineteen sixty four,
which includes, you know, all but two of the two
of my siblings are technically, I guess baby boomers, but
(34:38):
sixty four seems a little stretch. Anyway. The point is
the boomers are the and there's an awful lot of
us are the are the measure Now. We're the old people,
all right, and we are demanding services more than anyone else.
And I think, as our sense I think there's no
question about it. And just in talking with some of
(35:00):
the literally tens of thousands of people I've spoken with
families in all over the last thirty five years, that
sense of time speeding up is a real is a
real thing. You know, as you get older, things do
seem to you know, time seems to accordion on you.
You know, it speeds up. So as you're thinking about things,
(35:24):
maybe that would be you know, what are we trying
to do with this retirement planning. What we're trying to
do is to slow it down again. What we're trying
to do is not be overwhelmed by the pace, not
be overwhelmed by on rushing events. Right, you don't have
to just sit there like you know, my father said,
(35:47):
you know, we're going through the long term care with mom,
and he said, David, I'm just putting one foot in
front of the other. That's all I'm doing. Just one
foot in front of the other, right, And it can
be so much more than that, And as it turned out,
it was for him there's a lot more than to
life than putting one foot in front of the other.
You got to do that, of course you do, but
that's not all there is to it, right, And you
(36:10):
can have you can impact. You can have influence on
the way your life goes, the way your retirement goes,
the message that you leave to other people. Right, it's
all in your hands. It's up It really is up
to you. It's just about taking action, being smart about
it right, and not making the mistake. See. One of
(36:32):
the problems we've got with this whole, you know, and
this is what drives me nuts, is oh, you're not
doing things the customary way. You know, the customary way
is to do a will. The customary way is to
do this, the customary way to do that. And it's like,
you know, most estate planning that people do would not
be unusual to Abraham Lincoln. Okay, you know they say,
(36:56):
one of the things we know that Shakespeare wrote was
his will, and in his will he gives away his
second best bed. Okay, the wills that people are doing
today are not all that different than what William Shakespeare
was doing hundreds of years ago. I what the world
hasn't changed things aren't different now than they were, I mean,
(37:18):
like significantly different, So that so that there are different
things we need to be concerned about, we need to
be thinking about, and yet we're doing the customary thing.
We're doing the thing that has been done forever in
a day as if you know, think about it, I
mean in your lifetime, in your lifetime. When I was
(37:40):
born in nineteen fifty seven, there was a huge flu epidemic. Okay,
people don't talk about it anymore, but it was almost
as bad as the Spanish flu. All kinds of people died.
That doesn't happen anymore. If anything like that even sort
of begins to happen, we shut down the country and
make everybody mask up and socially distanced apparently, I mean
really really, I mean we used to did you see
(38:03):
what I'm saying. I mean, you used to be when
you got to your sixties. Look when retirement, when social
Security got started. You know why they took sixty five
as at the retirement age, right because white men didn't
live till sixty three. Sixty three I think it was
like sixty two and a half was the you know,
fact check me on that one, But it was you
were supposed to die before you got social security, not
(38:25):
lived thirty years beyond it. Okay, things have changed. The
world has changed. Right. If we don't respond to it,
if we don't work with it, if we don't acknowledge it,
you're going to get run over, which is and then
you're pathetic. Who wants to be pathetic? You really want
to be remember that? Oh you know? Yeah, yeah, you
know the world ran them over instead of no, we
(38:47):
dealt with it. We kept our eyes open. You know,
We've got literally tens of thousands of families who have
done the planning right, who are facing the future, understanding
that it's the future, that it is really different then
the way it has been. They won't go broke. Their
families won't go broke. All right, all of the tools
are there. That's what the Three Secrets is about. That's
(39:09):
what our whole workshop model is about. How do we
bring the cost down in order to do non customary stuff?
All right? When people criticize it's not customary, it's like,
what the hell, what what you want me to do? Customary?
Abraham Lincoln style, William Shakespeare style? No thanks, not what
I'm about. Not with this whole enterprise. Not what retirement
(39:32):
law is about. It's about you. Even listening to the
David Carrier Show. I'm David Carrier, your family's retirement attorney.
Speaker 1 (40:07):
You've been listening to the David Carrier Show a lively
discussion addressing your questions and concerns, but not legal advice.
There is a big difference, so when making decisions that
affect your family, your property, or yourself, the best advice
is to seek good advice specific to your unique needs.
If you missed any of today's show, or would like
additional information about the law offices of David Carrier, please
(40:29):
visit Davidcarrier Law dot com.
He served at the Pentagon as an army jag. He
graduated from Notre Dame and has two law degrees from
Boston University and Georgetown University. He's been practicing law for
over thirty years. He's your family's personal attorney. It's time
for the David Carrier Show.
Speaker 2 (00:34):
Hello, and welcome to the David Carrier Show. I'm David Carrier,
your family's personal attorney. And you have found the place
where we talk about estate planning, elder law, retirement law,
business law, real estate, you name it, we talk about it.
If you give us a call sixty one six seven
seven four twenty four twenty four. That's six one six
(00:56):
seven seven four twenty four twenty four. We'll get your question,
comment or concern on the air now. As we tried
to talk about the first first hour, fellas occasionally, you know,
you're your significant other there, you're a woman there, she
gets a little bored, right, am I right? She gets
(01:16):
a little Hey. You know how we how come we're
doing the same old thing? And you say, well cheaper
is at our age? I think the same old thing.
If we can do the same old thing, that's well,
you know, we're ahead of the game, but occasionally what
you want to do, which I would suggest, which I
think is a good idea, suggests something new, something different,
(01:36):
something you know, bring a little jazz back, a little
spice back. And in my in my scouring the globe
to bring you the constant variety of sports and entertainment
for you know, the date night kind of thing people
do date nights. I don't know if you know that
highly recommended. But anyway, so if you're doing the date
(01:57):
night thing, and this picture of the bull right anyway,
so PBR, all right, now, back in the day, back
when you're in high school, PBR had a meeting in
the courtship ritual. Yes it did, I don't deny it.
But PBR these days means something else. It means professional
bull riding. And so you know, we spent a couple
(02:18):
hundred bucks, got out our cowboy hats out of the
frankly they were in the Halloween the Halloween bin, and
went to see professional bull riding. I don't know the
only familiarity I had with professional bull riding other than
it was in town this weekend, and well I knew
a ferrier, a guy you know who shoot the horses.
(02:40):
Back when I had a farm and this guy, I mean,
he was like I don't even think he was twenty,
but he moved like arthritic, you know what I mean.
He was just so into the whole bucking bronco and
all that kind of thing that he broke in like
every bone in his body is terrible and be very
good with the but like I said, I didn't take
(03:02):
care of themself anyway. The point and that plus so
that was one experience plus wide world of sports. You
know how in wide world of sports, spanning the globe, concert,
variety of sports, real victory, agony, defeat, all that kind
of thing. Well, with wide World of sports, they would
do the bull riding every once in a while, and
it looked like the kind of thing which I now
(03:22):
realize was creative editing where things happened quickly and all
these guys managed to stay on right. Well, I find out,
I find out that you've got to have an eight
second ride and out of like I don't know, it
got to be at least thirty cowboys there right riding
these things. You know how many stayed on three three
of the grown ups maybe two, and then and then
(03:47):
of the junior edition we have these little kids riding
the little I think three of them stayed. I think
maybe five people got scored that night because everybody fell
off before the eight seconds was up. And it made
me think of, well, like everything makes me think of
estate planning. You know, what is the kind of retirement
planning that people are doing, you know, from the legal
(04:08):
end of things, And so often it's not like like
these guys look good, you know what I mean. They
had the chaps, they had the hat, they had the helmet,
they had all their stuff, they had their thing to
hold on to the bull with. You had these bulls
that were fabulous. You know, it's all set up. You know, thousands,
literally thousands of people are watching these people try to
ride the bulls, and two seconds later, one point eight
(04:31):
seconds later, you know, fractions of a second later, they're
off on the on the ground. They didn't hang on
long enough. So out of like thirty, there's like three
that qualified. And they show their statistics for how long
did you just stay on long enough to get scored?
And there's like ten percent of the time, like this
(04:52):
guy's coming out of the shoot and you got a
one to ten chance they're going to hang on long
enough to you know, to at least get scored. Okay, which,
of course, as I say, brings me back to the
whole doing trust, doing wills, doing all the rest of
this stuff. Okay, you may wish that you did it.
You may think that, oh, I'm going to have a
(05:14):
good ride this time. Okay. You know, I got my
strap on here, I got my chaps, I got my
cowboy shirt, I got my and I swear to god,
these guys were wearing flat jackets underneath because they were
kind of bulky. Was one guy who had it on
the outside. But you know, you see the guy gets
stepped on by the bull. You know, he's dragging one
leg as he limps away. Yeah, terrible, Almost as bad
(05:39):
as being you know, I don't know, a radio talk
show hoster or an attorney or something. Almost almost that bad.
But the point is that these guys are trying really
hard to do the right thing. And it reminds me
of folks trying to get an estate plan done right.
You're trying to do the right thing. You're listening to
the experts. You've got the equipment, got the bull, you've
(06:00):
got the arena, you got the audience. All this stuff
and yet very few people actually succeed even in staying
on long enough right to get to the point where
you get judged right. How like a state planning? Is
that where people? Yeah, you go through the probably meet
(06:22):
with the lawyer, or you download the CD, or you
listen to somebody or you you know, tapes or YouTube
these days or whatever. Right, and you know, you look
pretty rough and tough. You look like, oh, I got
all this stuff, and you know, and then you know,
they open the gate, out you go, and two seconds later, boom.
(06:42):
Now you find out what reality is like. And reality
is a sawdust floor on the van Andel arena, you
know what I mean. It's you don't even get scored.
You know, it's terrible. So anyway, my advice to you
two pieces of advice. Number one, want to bring a
little spice back into your relationship. Right next time the
(07:04):
professional bull riding tour is in town. Don't miss it.
Don't miss it. It's it's it's it's not cheap, I
have to say, but it's it is a lot of fun.
See it was we had a choice. We could have
done the bull riding or gone to a musical theater
at at the other place. At the boss Ports and
guess which one I wanted to do, and and and
(07:26):
this time it's like, well, yeah, let's go to let's
go to. My bride said, yeah, let's go to the
bull riding. That'll be fun. I got, I got. She
actually bought a cowboy hat in Texas like years ago
and has never had an occasion to wear it. So
she got to wear her cowboy hat and her sparkly jacket.
So that was nice. And we got to see the
professional bull riders, which gave me the material for this
(07:48):
segment of the radio show. So you see how when
good things start to happen, they snowball bad things when
they start to happen, they snowball riding these bull ride,
watching these bull riders. You know when you get a
little twist and the bull goes the other way. Oh,
pretty soon you're gonna be hitting the dirt. Right, it
ain't gonna work out for you. You're not gonna get your
(08:09):
eight seconds in. You won't even accomplish what you try
to accomplish. And I got to tell you, you know, they
tried to keep it exciting and whatnot. And I'm sure
that the people who showed up, who show up for
these things routinely. That's what they expect. Okay, So if
you're involved in the whole retirement law, the whole estate
(08:34):
planning thing, you know that things are going to fail
an awful lot of the time, most of the time,
vast majority of the time. But like the bull riders,
they fall off before they make the eight seconds before
they finished the ride. Okay, everybody expects that. When you
go in there, people weren't disappointed. They were not disappointed. Okay.
(08:54):
I was like, where's my wide world of sports experience,
you know where everybody stays no, no, no, no, it
doesn't work like that. And if you know what's going on,
you know it doesn't work like that, you're not disappointed. Okay.
But it's like with the state plan. You think they're
gonna do it, You think it's gonna work. You think
you're not gonna go broken long term care. People who
(09:15):
know what's going on know it's a different no, it's
a different story, right, And so maybe it'd be better
to be prepared right instead of surprised when reality hits.
We've got Jim from Cadillac, all the way from Cadillac,
Holy Cow, Jim, Welcome to the David Carrier Show. Oh,
he dropped, well, you can call me back, that would
(09:35):
be great, And he said, did he make a mistake
of doing a will instead of a trust? That really
depends which one is right for you. Okay, I mean,
maybe it's flower arranging that you'd like to do as
your recreational activity. Maybe it's riding bulls who've been trained
(09:55):
to throw you off and then stomp on you. Maybe
that's what you'd like to do for recreation, or maybe
it's something maybe it's something in between. But there's a
wide range of things out there. Wills are not terrible,
they're not inherently bad. They're just not the tool that
should be used for most people. I'll give you an
example when we get back dealing with mother but father,
(10:19):
actually father and daughter. We just did this Sun on Friday.
Just shows the difference, the difference between the two different ages,
different a different asset profile, different prospects for life, you know,
just a whole bunch of different factors dictate a different result. Okay,
there is no one size fits all with this stuff.
(10:42):
Like the like I say, the cowboys who got thrown
off the bulls, more often than not they had all
different kinds of equipment. Right. They all had helmets, that's
for sure, but the way they went about it, you know,
their techniques and everything, they're different. Right. Part of that's personal.
Part of that is what kind of bull am I
riding here? You know? What is my what is my role?
(11:04):
What do I want to accomplish? Those are Those can
be very different for different people. Not surprising even listening
to the David Carrier Show. I'm David Carrier, your retirement
law specialist.
Speaker 1 (11:33):
This hour of the David Carrier Show is pro bono,
so call in now at seven seven twenty four, twenty four.
This is the David Carrier Show.
Speaker 2 (11:42):
Yeah, wellcome back to the David Carrier Show. I'm David Carrier,
your retirement law Graham Kuba specialist. Wherever you want to
call me for people who are retired, wish to be retired,
know somebody who's retired or just kind of dreaming of retirement,
whichever it is, give us a call. Six one six
(12:03):
seven seven four twenty four, twenty four. Retirement should be
the nuts on the on the Sundays should be the
cherry on top. And for an awful lot of people
that winds up on the floor. Let's not let that happen,
shall we. Six one six, seven, seven four twenty four
twenty four is the number to call. We've got We've
got Don on the line. Hello, Don, Welcome to the
(12:24):
David Carrier Show.
Speaker 3 (12:26):
Sollo Davis is Donald from Lansine. I am I am
fifty eight years old. I'm married a girl from the
I married a girl from the Philippines that she is
forty four years old and just started working. So by
the time she gets to retirement age, she will not
(12:46):
have a full thirty five years of income to do
the calculation to draw social Security. So I'm assuming I
should work till I'm seventy to max security because she'll
hapen to draw off of mine. Or is there a
special calculation for her because you won't be here thirty
(13:07):
five years?
Speaker 2 (13:10):
Well, what's the thirty five year thing? It's ten ten
accountable quarters before you get your own Social Security.
Speaker 3 (13:17):
Okay, I guess that. I thought you had that. I
thought the calculation was they take the highest thirty five
years of reported income to figure out the formula of
how much you get a month on Social Security.
Speaker 2 (13:34):
No, no, but as your as your wife, she's entitled
to half of your half of your benefit. Okay, Now
here's here's the thing. As you point out, you the
Social Security increases eight percent per year after sixty two.
So if when you retire, if you're sixty two years old,
(13:56):
when you retire, right, then then the Social Security is
calculated a certain amount From then till I think it's
seventy or seventy one or something like that. Every year
that goes up, your retirement benefit increases increases by eight percent.
Are you with me on that? So it goes up
(14:16):
eight percent per year, believe right?
Speaker 3 (14:19):
So people are my generation that max is out at
seventy Yeah, right.
Speaker 2 (14:25):
That's right, So that that sounds right. I just didn't
want to raise my hand on the put my hand
on the Bible and oh yeah it's seventy. I think
I think you're right. Anyway, the point is, and of
course it will be it will be higher in the
future one expects. But the point is that for every
every year that goes on, it goes up by eight percent.
(14:46):
And so a lot of folks say, ooh, eight percent,
that's pretty good deal. I'm gonna I'm gonna put off
my retirement. Now, if you put off your retirement for
reasons like you enjoy your job. Yeah, you're well paid.
It doesn't hurt you. You know. The whole retirement thing
is not is not the great thing in your opinion. Whatever. Okay, fine,
(15:09):
But the reason it's eight percent, okay, social Security, the
Social Security administration. They're not dumb, they're not stupid. Okay.
The reason it's eight percent is not to be nice
to you. It's eight percent is the increase because actuarily, right,
if you look at everybody, it doesn't matter if you
(15:32):
take it at sixty two or seventy, the payout from
Social Security is going to be the same because you're
gonna be dead, all right. Yeah, you might have gotten
you know what, twenty four percent more you wait three
more years. Yeah, but it's going to take you till
your past normal retirement age before you recoup the benefit. Now,
(15:52):
my dad, my father, right, he screwed them all. He
lived to ninety six. He took one hundred percent of
his teacher's pension and Social Security right now. He should
have been dead a long time ago, but it was
it was mom who passed first, right, and Dad lived
in ninety six. He won, He beat it. Okay, great,
(16:13):
wonderful for him. We got his you know, he got
a new knee when he was like ninety two years old,
which they don't do, and all the rest of this
great stuff. So he was a winner, you know, when
it comes to putting in taken out. But the fact
of the matter is whether you're sixty two or seventy
or whatever actuarily you're going to if you're just playing
the odds, you're going to take the same amount of
(16:36):
money out. Now you've got forty four year old woman
there right, who's going to be claiming on your so
security you die, she gets a survivor benefit right now,
if you have good habits, right, if she takes good
care of you, right, you're eating the tayrot and she
cut the salt out of your diet, and you know,
and like that. You know, maybe get a little more
(16:58):
exercise than you would have other then okay, maybe your
life expectancy gets expanded and you say, oh, well, you know,
i'll probably make the money back. Plus she's younger than
I am. Will she have the ten accountable quarters? No?
Probably not so, okay, or how however many quarters it is.
I have to look that up to verify. But The
(17:21):
point is that that if she's claiming it, you got
to be thinking about it, Well, should I increase it?
Should I keep working because I don't hate my job
and it's not going to kill me? Should I keep
working to increase that social security? Because she's going to
get half of it. She's going to get half of
it anyway, do you see? So, yeah, when you got
(17:44):
a much younger wife, and I'll tell you what it's
happening now, more and more we're meeting families you know,
used to be married your high school sweetheart and you
were the same age or just about. And now we're
seeing ten years, fifteen years, twenty years difference between men
and women in a relationship, right in a marriage. And
(18:06):
so you've really got to you know, you got to
be thinking, you know, how is that? How's that going
to work? Because she's got to make it twenty years
after you're gone. You know, ten years for being a woman. Well,
what'd you say? Fourteen years difference? So she's got to
make it twenty four years after you're gone. How's that
going to work? Okay? One of the you know, what
(18:27):
savings do you have? Right if we give them to
the nursing home because you get the dementia. Now she's
got to make it for ten years because she's a woman. Bonus,
it's usually it's really six, but I say ten plus
fourteen years age difference. Now she's got to make it
twenty four years on what the state to let you have. Well,
that's not a good deal, Okay, So that's why we
(18:48):
plan for the long term care. Right. But when when
it comes to when it comes to what you're talking about,
should you should you you know, keep earning in you know,
yearning and all the rest of that stuff. Should you
keep bumping that up when it comes to you yourself,
(19:10):
The numbers say no. The numbers say no, it's the same.
You're going to get the same economic benefit from social Security.
Now if you keep working, that's a different economy. That
changes the equation. Right, But if you're looking just as
a matter of pulling from Social Security doesn't matter when
you take it. They're convinced that, given the big numbers
(19:33):
they're dealing with one hundreds of millions of people, that
it's it's going to be the it's going to be
the same. Does that help?
Speaker 3 (19:43):
Yes day? So at seventy I could still be working
and grow social Security.
Speaker 2 (19:50):
Yeah, once you reach once you reach full retirement age, right,
which for you is going to be what sixty six
or something sixty seven. Yeah, So once you reach full
retirement age, you can draw your Social Security, your six
aged sixty seven social Security, and they won't, you know,
they won't impose the fifty percent take back fifty percent
tax on the on your excess earnings. You know, because
(20:14):
if you're if you're working, if you're retired at sixty
two and you're still working, if you go above the threshold,
they take back half of your Social Security dollar for dollars,
so it's like a fifty percent tax on your earnings.
So people do all kinds of things to maneuver that around.
But once you reach full retirement age sixty seven, then
you can work all you want. They don't care.
Speaker 3 (20:37):
Oh excellent. Yeah, I kind of like my job, so
I'll aim for sixty seven, do social Security, and keep working. Yay.
Speaker 2 (20:47):
You know, it's amazing how guys named Donald you know,
they just keep working and working. They seem to enjoy it.
Speaker 3 (20:54):
Yes, And what I really like is the president and
vice president are both married to females that are immigrants.
Are like I totally relate. I have a Philippine. Here
you go.
Speaker 2 (21:07):
I love it, guy, Thank you, don thanks for calling.
Take care now. I've been listening to the David Carrier Show.
I'm David Carrier, your family's retirement lawyer.
Speaker 1 (21:37):
David's got the how too you're looking for? Just called
seven four. This is the David Carrier Show.
Speaker 2 (21:46):
Welcome back to the David Carrier Show. I'm David Carrier,
your family's retirement lawyer. What does that mean? I don't know.
I'm making up as I go along. What sounds so
much better than elder law? Don't you think? You know?
I wish I could come up with it as a
buddy mine and said, hey, we're older, we're retirement leaders
from now on. I said, yep, that makes so much
(22:08):
sense because why because these issues? See estate planning. Your
estate is the leftover stuff when you're dead. Okay, that's
what your estate is. And frankly, truth to tell, nobody
wants your stuff. You know all that china, you know,
beautiful porcelain china and stuff that you saved up for
(22:29):
and oh you know you put it out of Thanksgiving.
Nobody wants it. You can't give it away. I've got.
I really like grandfather clocks. Okay, I just love them.
I like the TikTok of them. I like the bog bog,
I like the grandfather clocks. Okay. If I pay more
than ten percent of the retail price for a Grandfather clock,
it's because I really really like that one. Because why
(22:51):
because they lose ninety Nobody wants grandfather clocks. I do.
But you know, thing to listen and there's no I'm odd, Okay,
So just be thinking as you you know, as you
go through. It's not about the stuff that you leave
when you're dead. It's about the way you live your life.
(23:12):
That's retirement. Okay. Now, for an awful lot of folks,
retirement is like the end of everything. It really shouldn't be.
You really need My suggestion would be you need to
have something to retire too. You're not retiring from work,
You're retiring to a new life. Okay. Don't be thinking
(23:35):
you're gonna be watching TV and you know, and drinking
a beer or something like that and not how it works. Okay,
I'll tell you what we have more and this is
just anecdotal. Okay, I don't have any I don't have
any statistics for this. I don't know what the statistics are.
I don't know. It's just anecdotal, just kind of what
I've seen in thirty five years. Maybe in my opinion,
(23:56):
has some values of mine or small value. I don't know.
But what we see is people who work the line.
You know, GM employees seem like because that's what we
had around here with GM plants. Those guys don't survive,
They retire and boom, you know, you're sending out the
condolence card because why. I mean, maybe it was the
(24:20):
hard work. Maybe I don't know what it was exactly,
but I suspect that a big part of it was
they weren't retiring to something, they were retiring from something. Okay,
does that make sense? When you're when you are retired,
it's going to be a lot harder than you think,
a lot more difficult. You know, my dad went to
(24:41):
Mass every morning. You know why he went to Mass
every morning? Well, in the hopes of a glorious resurrection,
of course, but you know he's to be on a
good side all that. Well you believe that all that, Yeah,
But he told me, he says, he says, David, you
know why you go to mass every morning. I said,
for those reasons, all right, and glory gott and all that,
and he's like, yeah, yeah, yeah, that's all true. He goes,
(25:04):
but I need a reason to get out of bed. Now.
This was in his nineties and he had done all
kinds of volunteer stuff, reading, you know, blah blah beforehand.
Kept he kept engaged. So he made it to ninety
six and he was still doing you know, he did
a woodwork finished his last woodward wood working project. A
couple of weeks before he passed. He was making a
(25:25):
step so a friend's wife could climb up into bed,
you know what I mean, like a little step stool
kick under the bed, you know, very nice little thing,
very handy. That was two weeks before he passed. That's
what you that's what you really need. That would be
That would be my suggestion. Do retirement planning. That's what
this is all about. How do we hang on to
(25:47):
your stuff for you while you're here? Okay, There'll still
be plenty to pick over after you're gone. Don't worry
about that part, okay, or if you want to worry
about it, which is fine. You know, I want to
leave a mess. I get that. You don't want chaos.
You don't want them to remember you. Oh, poor Don,
you know, left such a mess, pitiful, And it's like,
(26:09):
what do you mean pitiful? I was here, you know,
eighty years, I did all kinds of great stuff, and
they all they remember about me is the last thing,
which was, you know, my estate plane got screwed up,
blah blah. You know, Oh yeah, you know Don, Oh yeah,
you know he worked so hard and did all these
great things and always preaching thrift and stuff like that.
And then you know his wife, Mary, you know, she
(26:31):
had to go twenty four years on nothing right because
why because he didn't plan ahead. Oh, poor Don, Poor Mary. Oh,
what a pathetic tale that is to tell. Okay, that's
a story. You can tell that story. You've told that story.
You've heard that story about folks, right, No, and then
and then frequently, which really annoys the hell out of me.
(26:55):
Oh but there's nothing you could do about it. Oh
but there's nothing you can do about it. What kind
of nonsense. Of course there's something you can do about
That's why we do the Three Secrets workshops. That's why
we do the How to Be a Good Trustee Workshop.
How to do how to be a good beneficiary workshop.
That's why we do all this stuff to say, that's
why I'm here this morning. It's all about No, you're
(27:17):
You're not pathetic, you're not bereft, you're not powerless, you know,
I mean, how do you feel about people like, Oh,
there's nothing I can do. Let all the bad stuff
happen to me. Yeah, dump another bucket of you know
what on my head because there's nothing I can do
about it. Oh, those bad people they're doing it. It's
(27:38):
like what what? Wake up? Wake up, do something, be active.
You can do it. You can do it right, you really,
you really can. And it's all the difference between you know,
leaving a mess that's a cautionary tale and actually leaving
a story to tell about how you did it, why
(28:00):
you did it, and everybody. This is the one thing
that I've learned over thirty five years. And we're like
at one hundred and twenty thousand contacts, one hundred twenty
thousand file reference numbers. So it's not one hundred and
twenty thousand people hired me over the last thirty years, No,
but it's one hundred and twenty thousand people who we've contacted,
we've talked to. Sometimes it's family members to get their
own file. You know, that's just our filing system. But
(28:22):
it's it is accurately about one hundred and twenty thousand stories.
You know that you've heard, and there is nobility, and
there is there are things to emulate, and to a
point too, with pride in everybody's life. I mean, it's
amazing what people what people do right, and then they
fumble the ball in the one yard line. Everybody forgets
(28:43):
about the ninety nine yards you ran. And all that
remember is that you fumbled it. Well, maybe you shouldn't
fumble it right, And speaking of fumbles, this is really
stupid on my part. We were talking to Donald whose
wife is newly the immigrant legit and all the rest
of that stuff. Yay, we like that big open door,
(29:04):
big beautiful open door. All you have to do is
follow the procedure and you come in there. You are.
My wife did it? Don you know? Dj T, the
vice president's wife did it. You can do it. It's
it's not impossible to do, it's not easy to do,
but it's a righteous thing. Anyway, don we were talking
(29:28):
to him and I said, you need ten quarters to
qualify for Social Security, which is ridiculous, right because ten
quarters is two and a half years. No, you don't qualify.
It's ten years. It's forty quarters four zero quarters, which
makes me wonder if that's where he picked up on
the idea the Remember he said thirty five years to
qualify for to qualify for Social Security. It's not thirty five,
(29:52):
but maybe he was thinking quarters, which is the only
number that even comes close. But it's forty nowadays, it's
forty quarters. So you have to you know, you have
to earn like eighteen hundred bucks or something like that
per quarter in order to have a creditable quarter for
the for the Social Security. So that's how, that's how
the Social Security. That's you know, really stupid mistake on
(30:15):
my part. It's not ten quarters, it's ten years, right.
In other words, it's forty quarters, and you can spread
them out over more than ten years. Okay, you can
do that, but it's still it's still forty creditable quarters
before you qualify for the Medicaid. You've been listening to
the David Carrier Show. I'm David Carrier, your famili's retirement attorney,
(30:38):
inviting you to one of our three Secrets workshops. Do
these every week. The Good Lord brings no excuse, no
excuse not to come to one. Just go to the
website David Carrier Law dot com sign up for one
that's near you.
Speaker 3 (30:55):
The time.
Speaker 1 (31:13):
I saw my love, David's hurking and working and taking
your calls. Now this is the David Carrier Show.
Speaker 2 (31:24):
Welcome back to the David Carrier Show. I'm David Carrier,
your family's personal attorney. You know, are featured performing intro
and outro music. Does Gladys Knight and the Pips. And
I thought I thought she had passed just looking up
her biography still kicking, huh, And just she did opening
(31:44):
for the Olympics recently in twenty nineteen. So there you go.
Not that long ago. Isn't that amazing? But you know
what's amazing is the we have to think about the
significance of the passage of time. The time passaging is
very significant because that is the significance of this time
(32:07):
passing of time. But anyway, I guess it is significant
that time passes by. But think about think about this.
It's just striking me that, you know, Notre Dame lost
the National Championship, of course. I mean they played for it,
which is wonderful, but they lost, and there it is.
You know how long ago that was. It's not even
(32:30):
a week. It's not even a week now. Maybe you
don't care about that, right, and maybe you won't care
about the Super Bowl either, right, But think about this.
History is moving so fast right now. Time is moving
so fast right now that it was only a week ago.
Doesn't it seem like a long time ago? You know
that there's all this build up for the collegiate National
(32:51):
Championship football game and all that, and then it's over
with and it's done. I mean, and it was only
a week ago. I don't know. I don't know about you,
but well, my folks always said, you know, the older
you get, the faster time passes. So maybe that's maybe
(33:12):
that's all that's going on. Or maybe we're living through
a period of time in which time is compressed because
so much is going on and you don't want to
get political about it and all the rest. I get it.
But you know, we have these fires and then we
have this is happening, and that's happening in two hundred
executive orders and whatever you think you may think it's good,
(33:34):
you may think it's bad, you may think it's in between.
I don't know that. That's not the point. The point
is that things are happening so fast, so rapidly now
and again, maybe this is idiosyncratic, Maybe it's just the
way I feel about it. Since Notre Dame lost, I
(33:55):
don't know. If they won, maybe I would think it
was it was a very long time, but very very
short period of time. But the point is that the
world is unfolding, seems to be unfolding more quickly, more
quickly than it has doesn't It is that how it
feels to you. One of the things that we've been
(34:17):
doing have been you know, and I think part of
it is part of it is that we're the grown
ups now, the baby boomers, right. I was born in
fifty seven, nineteen fifty seven, so I'm not exactly a
baby boomer, but they say it goes to nineteen sixty four,
which includes, you know, all but two of the two
of my siblings are technically, I guess baby boomers, but
(34:38):
sixty four seems a little stretch. Anyway. The point is
the boomers are the and there's an awful lot of
us are the are the measure Now. We're the old people,
all right, and we are demanding services more than anyone else.
And I think, as our sense I think there's no
question about it. And just in talking with some of
(35:00):
the literally tens of thousands of people I've spoken with
families in all over the last thirty five years, that
sense of time speeding up is a real is a
real thing. You know, as you get older, things do
seem to you know, time seems to accordion on you.
You know, it speeds up. So as you're thinking about things,
(35:24):
maybe that would be you know, what are we trying
to do with this retirement planning. What we're trying to
do is to slow it down again. What we're trying
to do is not be overwhelmed by the pace, not
be overwhelmed by on rushing events. Right, you don't have
to just sit there like you know, my father said,
(35:47):
you know, we're going through the long term care with mom,
and he said, David, I'm just putting one foot in
front of the other. That's all I'm doing. Just one
foot in front of the other, right, And it can
be so much more than that, And as it turned out,
it was for him there's a lot more than to
life than putting one foot in front of the other.
You got to do that, of course you do, but
that's not all there is to it, right, And you
(36:10):
can have you can impact. You can have influence on
the way your life goes, the way your retirement goes,
the message that you leave to other people. Right, it's
all in your hands. It's up It really is up
to you. It's just about taking action, being smart about
it right, and not making the mistake. See. One of
(36:32):
the problems we've got with this whole, you know, and
this is what drives me nuts, is oh, you're not
doing things the customary way. You know, the customary way
is to do a will. The customary way is to
do this, the customary way to do that. And it's like,
you know, most estate planning that people do would not
be unusual to Abraham Lincoln. Okay, you know they say,
(36:56):
one of the things we know that Shakespeare wrote was
his will, and in his will he gives away his
second best bed. Okay, the wills that people are doing
today are not all that different than what William Shakespeare
was doing hundreds of years ago. I what the world
hasn't changed things aren't different now than they were, I mean,
(37:18):
like significantly different, So that so that there are different
things we need to be concerned about, we need to
be thinking about, and yet we're doing the customary thing.
We're doing the thing that has been done forever in
a day as if you know, think about it, I
mean in your lifetime, in your lifetime. When I was
(37:40):
born in nineteen fifty seven, there was a huge flu epidemic. Okay,
people don't talk about it anymore, but it was almost
as bad as the Spanish flu. All kinds of people died.
That doesn't happen anymore. If anything like that even sort
of begins to happen, we shut down the country and
make everybody mask up and socially distanced apparently, I mean
really really, I mean we used to did you see
(38:03):
what I'm saying. I mean, you used to be when
you got to your sixties. Look when retirement, when social
Security got started. You know why they took sixty five
as at the retirement age, right because white men didn't
live till sixty three. Sixty three I think it was
like sixty two and a half was the you know,
fact check me on that one, But it was you
were supposed to die before you got social security, not
(38:25):
lived thirty years beyond it. Okay, things have changed. The
world has changed. Right. If we don't respond to it,
if we don't work with it, if we don't acknowledge it,
you're going to get run over, which is and then
you're pathetic. Who wants to be pathetic? You really want
to be remember that? Oh you know? Yeah, yeah, you
know the world ran them over instead of no, we
(38:47):
dealt with it. We kept our eyes open. You know,
We've got literally tens of thousands of families who have
done the planning right, who are facing the future, understanding
that it's the future, that it is really different then
the way it has been. They won't go broke. Their
families won't go broke. All right, all of the tools
are there. That's what the Three Secrets is about. That's
(39:09):
what our whole workshop model is about. How do we
bring the cost down in order to do non customary stuff?
All right? When people criticize it's not customary, it's like,
what the hell, what what you want me to do? Customary?
Abraham Lincoln style, William Shakespeare style? No thanks, not what
I'm about. Not with this whole enterprise. Not what retirement
(39:32):
law is about. It's about you. Even listening to the
David Carrier Show. I'm David Carrier, your family's retirement attorney.
Speaker 1 (40:07):
You've been listening to the David Carrier Show a lively
discussion addressing your questions and concerns, but not legal advice.
There is a big difference, so when making decisions that
affect your family, your property, or yourself, the best advice
is to seek good advice specific to your unique needs.
If you missed any of today's show, or would like
additional information about the law offices of David Carrier, please
(40:29):
visit Davidcarrier Law dot com.
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