July 31, 2025 • 43 mins
Retirement portfolios are the backbone of your life well-lived in your golden years. That's why hosts John and Giuseppe are must-have partners. This week we welcome back guest, Ed Outland who gives a first hand look at living in retirment. Plus, the Fed rate changes = nothing, Structured notes, Social Security, and an announcement about our next Workshop. The Wise Money Guys!
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Episode Transcript
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Speaker 1 (00:00):
The Wise Money Guys Radio Show is brought to you
by One Source of Wealth Management SEC licensed three one
nine zero seven eight. For disclosures and more information, visit
our website One Source WM dot com.
Speaker 2 (00:13):
Welcome to the Wise Money Guys Radio Show. I'm your
co host John scambraam here with my partner Giuseppe Vescani,
and we are certified portfolio managers that specialize in helping
people who are retired are about to retire manage their money.
On today's show, we're going to have a blast from
the past, Ed Autlin, who actually got me into radio
(00:35):
about six working on seven years ago, six years ago.
For sure, your show was eighteen years I was on, yeah,
eighteen years. It was Aging with Dignity before I talked
them into changing it to The Wise Money Guys. And
so we'll get into some questions for Ed here in
(00:56):
a bit, But first off, let me go over what
our agenda is today. So we already mentioned we're going
to have a guest, but as usual, we'll talk about
current things going on. We have the Fed who the
battle has reheated up with President Trump, you know, accusing
him of politics but not sure that his positioning was
(01:19):
what the markets wanted, but they seem to be shaking
it off. We'll talk about tariffs, of course, we'll talk
about the record levels for the big three indices, the
S and P, the Nasdaq, the Dow, and then just
to mention, really we had to change the date of
our next workshop because surprisingly, the restaurant that we do
(01:42):
it at in the Reno market was booked pretty much
the whole moment of August. So if you're thinking there's
signs in the economy that that things are starting to
slow down, well it's not being it's not showing up
in the restaurant restaurant Twisted.
Speaker 3 (02:00):
It's all California people that move to Reno.
Speaker 2 (02:03):
Yeah, there you go. That's an excellent ejaculated actually thinking
about that. That's everybody moving from California.
Speaker 3 (02:09):
Last guy out, turn out the lights.
Speaker 2 (02:11):
Yeah, overpopulating Reno. So, just to update you on the
date and time and location, it is in Reno at
the Twisted Fork on September tenth, which is a Wednesday.
We always do an on do them on Wednesdays from
six to seven thirty pm. Give us a call at
nine one six nine six seven thirty five hundred to
(02:34):
register space. Fills up or is taken quickly, so again
called nine one six nine six seven thirty five hundred.
So jiseppe, let's dive in to at least where the
markets are, you know. I mean, we talked about this
last week, we talked about it the week before, and
I'm telling you it just every sort of thing that
we say is coming, they just seem it seems to
(02:56):
shake it off.
Speaker 4 (02:58):
Yeah, earning earnings is you know, the record breaker, record
breaking earnings, especially now we have some tech companies in play,
Meta and Microsoft knocking it out of the park. So
that's just continuing to fuel the fire and the rally
that's been taking place much anticipated on the FED. And
(03:19):
we'll dive more into that. That was kind of a
nothing burger, but when you read, you know, into it
a little bit more, it gives us some more clues
of what might be taking place in September, what's already
baked into the market and the rally, and what might
have to be unwound a little bit as we're heading
into the slower and more volatile season of the market.
Speaker 2 (03:40):
You know, I think I think investors are starting to
get spoiled when they start going you know, look at
the S and P. And there's so much more than
to just looking at the S and P when it
comes to investing, you know, for whatever your long term
goals or or mid term or short term goals are.
But it's it's misleading, if you will, because of the
(04:03):
weighted and the way that the S and P actually
you know, uh goes up or down. It's really still
just the big the big numbers, I mean, the big
companies that put up the big numbers that the S
and P. If you pull those out, we're not at
what twenty percent? Uh we we we hit a trough
(04:26):
of down twenty percent and then we've cut we got
passage off. And then but if you take out the
especially n video that hit four trillion dollars, I mean,
where is the S and P?
Speaker 4 (04:38):
Microsoft Fortullian as well?
Speaker 2 (04:41):
Now yeah, but but again you get more to a
okay year to date, you're probably looking at more of
a four or five percent S and P five hundred
as far as if they're equal weighted versus you.
Speaker 3 (04:55):
Know, now is growing up, we didn't even know the
word trillion exist at that point. That's how old I.
Speaker 4 (05:02):
Mean four how much money just flows around now?
Speaker 2 (05:05):
Yeah? Yeah, I mean it's a good point. And so
speaking of Ed a little bit, this this really has
a lot to do. So Ed, you retired what almost
three years ago now two and a half, two and
a half years, two and a half Ed. Ed was
a partner here at the Wise Money Guys and One
Source Wealth Management now powered by farther. But you know
(05:26):
how I mean, have you seen any effect? I mean,
you retired when you got to the cash flow that
you figured you needed for the rest of your life,
and it worked out just fine. I mean I waited
to have my take my social care until I was
seventy years old. Yeah, so that gave you that extra
thirty three percent from the time full retirement age two
(05:47):
plus three years, four years real quickly. I'm glad you
said that. So when we do a no obligation consultation,
and we do we do a retirement plan analysis, we
can do a social security analysis for you as part
of our planning capabilities. That will go to what Ed's
(06:09):
talking about. Should you wait you know, until you're whatever
your full retirement is sixty seven, sixty six depending on
what age you are, or wait till you're seventy You
waited till you were se.
Speaker 3 (06:22):
Wait, yeah, because I didn't need the money, and they
were guaranteeing they were going to give you an extra
eight percent per year for every year utilitated passed your
one hundred percent year whatever that is. So in my
case it was thirty three percent more. That pretty Uh,
since I didn't need the cash flow, I started working. Yeah,
it just made a lot of.
Speaker 2 (06:39):
Sense to do that being a Social Security Medicare expert,
because you really are what's the latest? Because I remember, oh,
everybody got excited a number of years ago that oh
they were increasing social Security by what was it six
percent or whatever the number was. Then the Medicare costs
(07:02):
went up an equal amount in one hand out the other.
How's that going right now? Especially with this administration or
the administration that just went I mean, what are the
big social Security?
Speaker 3 (07:13):
Those four years under the Biden administration were just terrible
for senior citizens on Social Security because they're using social
Security wrong. Now DOGE came out under Elon Musk and
he solved that problem real quick. We're not going to
allow people that aren't citizens to get the Social Security
that was representing close to thirty percent of all the
money being spent which took it from two thousand and
(07:35):
thirty three, weren't supposed to be out of money.
Speaker 2 (07:37):
Yeah, the narrative was they didn't. They didn't, you know,
I mean mainstream media would say, oh, they're taking away
people's sold security. They weren't taking away American sold security.
They weren't taking people in solid security away who actually
worked their forty quarters and qualified. They were taking it
away from the waste, fraud, and abuse.
Speaker 3 (07:57):
Yeah, I astronomy suggest that anybody that's approaching soci security
with the link that five year window, go ahead and
order up your own paperwork and take a look from
the day you had did your first job all the
way up to the time at the current time right now.
It will show you what if you started at sixty two,
this is what you're going to get it. I'll show
you at sixty six or sixty seven, five months, whatever
(08:18):
it is right now, and then it will show you
at age seventy, which you're going to be able to get.
So the reason I'm recommending that is that you have
a situation where not only are you paying in the
Social Security tax even in retirement, which is about to
be solved by President Trump, they're not going to charge
Social Security taxes against seniors on Social Security, which kind
of stupid, and you think about it, and the other
(08:39):
part is you have met a care on there also
that you've been paying for your entire working life, making
no interest, not making any money at all. Now in
my case, was two hundred and forty seven thousand dollars.
Speaker 2 (08:50):
That I go over your life.
Speaker 3 (08:51):
Over my life I have of working forty plus years,
fifty plus years, So bottom line, I would thought I
will never spend that money. That's the craziest thing. Oh
until until I retired, retired January.
Speaker 2 (09:06):
Third, you're you're in the black. That's right.
Speaker 3 (09:08):
By the time January first of twenty twenty four, world around,
my Medicare expenses had reached eight hundred and sixty seven
thousand dollars.
Speaker 2 (09:18):
Because of open hearts.
Speaker 3 (09:20):
Yeah, so the morals don't retire.
Speaker 2 (09:22):
That's SMaL, But just be diving into that a little
bit because it's one of the things that we really
do for our clients. First of all, we do a
plan as part of our advisory fee for all clients.
That's not an additional cost, but one of the big
things that we do. And maybe you can add some
clarity to this is exactly what the analysis is for
(09:46):
soul security, and then how we take that to determine,
you know, to people have an income shortfall. I mean,
you really are more of our plane expert, I'll tell you, especially.
Speaker 3 (09:57):
In the software you you made a good point because
so you can't live on so security anymore. I don't
care who wait is it's your age seventy, it's just
not enough. The brightest and smartest thing I ever did
is when we partnered up with six seven eight years ago,
I really started focusing heavily on how am I going
to survive and what do I need to do to
(10:18):
create an income. So that's what John and you're just
happy to do now. And it was John and I
at the time. He taught me how to save for
my retirement and I wasn't ready to retire when we
started doing.
Speaker 2 (10:29):
Yeah, your plan was basically never retire.
Speaker 3 (10:31):
Yeah that's it.
Speaker 2 (10:32):
That was it pretty much double dipping.
Speaker 3 (10:34):
But I'm delighted to say that we now have a
plan since I saved for retirement with John when we
were partnered up, we made sure that I was going
to get compensated when I finally do walk away and
that's all done. It's so for a decade. I'm not
worried about it at all. And I have a very
very good mate, significant other who owns a board and
(10:56):
care facility. She has six patients, so.
Speaker 2 (11:00):
For the next phase of the final phase of life,
you'll just go right into one of her staring.
Speaker 3 (11:05):
All my medical issues. She was my caregivers, so that
worth out good.
Speaker 2 (11:08):
God bless her, God bless all Right, Well, you're listening
to the wise mundy guys, John Scambriseppe Veskani and our
guests ed Autlin and Giuseppe. We really need to dive
into those numbers. But before we do, if you're interested
in a social security and retirement analysis with absolutely no
obligation whatsoever, give us a call at nine one six
(11:32):
ninety six seven thirty five hundred. Again, that number is
nine one six nine six seven thirty five hundred.
Speaker 3 (11:39):
I wanted to say one thing, You will not be
sorry because you don't take your social security and plan
on retiring without talking to these guys. It changed my
life dramatically that we I took the time with five years,
the last five years make sure that it was going
to be cared for it, and.
Speaker 2 (11:56):
We didn't pay you to say not a paid testimonial.
Speaker 3 (12:00):
By the way, Well, yeah, yeah, I was kind of
heavy into annuities when I was doing it all by
myself for years, and I realized that's pretty.
Speaker 2 (12:08):
I showed you the light.
Speaker 3 (12:09):
Yeah yeah, I saw the end of the I called.
Speaker 2 (12:11):
Them the a word on our former radio show.
Speaker 3 (12:14):
I was looking down a tunnel and the light of
the end of the tunnel before I met John was
a train coming at me. The light now is an
open tunnel at the other end.
Speaker 2 (12:22):
Beautiful.
Speaker 4 (12:22):
There we go.
Speaker 2 (12:23):
So a lot of a lot of stuff came out
as far as you know economic data, and none bigger
than the f o MC and listening to Drome Powell,
what are some of the highlights of that? How is
it affecting the market? Where are we going from here? Uh?
Speaker 4 (12:37):
Well, the it was basically nothing burger. It was what
we anticipated. There was no uh movement on rates from
the FOMC. And really, I think the big takeaway because
what everybody was focused on is the commentary in his
speech and if there was any hint of potential easy
income September, and there wasn't, and if anything, the focus
(13:02):
or Jerome Pal's focus is really on how unemployment is
at full employment right now, and if you look at
the past year, unemployment has been at four to four
point two percent. It was four point two recently just
moved back down to four point one, and so that
was his main focus. And it's kind of hard to
gauge because first it was all about data dependency and
(13:25):
we're going to be data, data, data and just watch
the data, and previous FFLMC meetings. Now it's been more
of what the assumptions are going to be. How are
the tariff's going to impact inflation. Is it going to
be a one time one off is it going to
be something that's going to drag on a little bit longer.
But because his focus was on unemployment, as long as
(13:45):
the market stays resilient and unemployment stays relatively low, I
don't think we're going to see a rate cut from
Jerome Powell even come September unless there's more pressure and
we see unemployment start ticking up.
Speaker 2 (13:58):
Yeah, why not? Though? Think about that other countries are
being preemptive. I mean, whether it's the UK or the
EU or Japan or why not be preemptive.
Speaker 4 (14:10):
I think their inflation is a little and if you
look at the e I was looking at, their inflations
has gone down a little bit more. And if you
look at it, Germany was in recession.
Speaker 2 (14:18):
Right.
Speaker 4 (14:18):
We we hit a negative quarter and GDP, but look
at the most recent quarter GDP came out was three percent,
which is very healthy. Yeah, very healthy.
Speaker 2 (14:27):
I mean you look under the hood and from everyone.
Speaker 4 (14:29):
Yeah, and there's some things under there that could be
a little controversy of like, oh, this is what pushed
it up to three percent. But nevertheless, you know, we
didn't get the previous quarter because it was contract contractorory
that was not even a word, but because it was
a contraction and it was a negative number.
Speaker 2 (14:45):
That's like the word strategry that well, it's strategic.
Speaker 3 (14:51):
Yeah.
Speaker 4 (14:53):
But but because we've bounced back our economy, the stock markets, resilient,
earnings are coming out, uh for the most part of
their meeting and beating, and and we have still low
and unemployment, it's kind of hard to be in the
position to say, let's just start cutting race.
Speaker 2 (15:12):
Yeah. Ed, you were talking about juicy Real Wago steaks
before the show. How much did those babies hit you for?
And I mean that might be the barometer of inflation.
Speaker 3 (15:24):
Right well, it's also the barometer how much can you
afford to spend when you're in retirement?
Speaker 2 (15:28):
Right well, I want to.
Speaker 3 (15:29):
Yeah, this is genuine a five Japanese what's a five level?
It's upper one tenth of one percent of all the
beef sold in the world.
Speaker 2 (15:40):
Yeah.
Speaker 3 (15:40):
Yeah, Prime is what everybody thinks is the best prime steak.
Well this is about five times better than Prime. And
you look at it and it's mind boggling.
Speaker 2 (15:50):
It looks like it's.
Speaker 3 (15:51):
Meat with butter in it. It's just unbelievable.
Speaker 4 (15:53):
Wow, melts in your mouth.
Speaker 3 (15:55):
I bought four and they gave me an extra win free,
but all of them have their own certific that's what
the cow's number on it. I mean, give me a break.
So that's all built into the price, including the prices,
a certificate.
Speaker 2 (16:06):
And not to plug this place. But so what what
it was?
Speaker 3 (16:09):
I bought it on an internet Alpine Butcher's. It's an
American company. It's a family run business. Oh good, Yeah,
a nice family run business. They sent me an old
thank you card. But I bought I mean I bought
it for special occasions because the entire bill was just
under five hundred dollars for four steaks. So you're buying
your buying ounces of special occasion meat.
Speaker 4 (16:29):
Yeah. How many ounces of meat?
Speaker 2 (16:30):
Yeah?
Speaker 3 (16:30):
And by the way, I do that for a living.
I just I love to smoke me and they do it.
Speaker 2 (16:34):
How big are those four steaks?
Speaker 3 (16:37):
The biggest ones one pound?
Speaker 2 (16:39):
Okay, so sixteen outs yep.
Speaker 3 (16:40):
And the next one's uh eight ounces half a pound
if you will, and the other one's seven ounces, and
then the filet mignon is seven and a half ounces.
Speaker 2 (16:51):
Wow.
Speaker 3 (16:52):
But think about that five hundred bucks for a couple
of pounds of meat.
Speaker 2 (16:55):
So here one's the party. Yeah. So if you'd like
to be able to retire and ford wagu you know
a five A five beef, give us a call it
nine six seven.
Speaker 3 (17:10):
I couldn't have done it without you, John, just put
it that way. When I retired, I wag you is
not on my mind.
Speaker 2 (17:17):
But yeah, well I love your beef jerky certainly. And
the last package you brought me his homemade beef jerky.
I ate the whole thing, just sitting here in one setting.
Speaker 3 (17:28):
I've got a key shirt. This is I smoke meat.
It's what I do, and I know things.
Speaker 2 (17:35):
But here we are, Guseppe, we're at we're at record levels.
I mean, obviously, our our clients are doing extremely well,
even though we tend to focus on reducing risk, you know,
actually diversifying people because many times people with significant means
think they're diversified because they have four different brands of
(17:57):
funds at three different firms, and they think diversified. So
we're able to diversify people truly by looking at what
their core holdings are and then actually focus on cash
flow like we did for Ed. Ed retired when he
got to the cash flow that he needed the level
(18:17):
to make it make sense. And a lot of times
for our retirees we actually help them increase their cash
flow and meet their shortfalls.
Speaker 3 (18:25):
But one of the most important things that John taught me,
and he's a certified we're folio manager and I wasn't.
Speaker 2 (18:31):
I was just an account actually, Giuseppe talked me into that.
Speaker 3 (18:34):
Yeah, so they both are. And that's the cream of
the crop. Even though it's Columbia University, it's got a
bad attitude going right, Yeah. Anyway, bottom line is the reason.
The one thing John taught me that you need to
know before you even show up with that in person meeting,
John will never put more than five percent of your
money into one entity. Never Now think about that. The
(18:59):
way he's gone diversifies your portfolio. Once he's taken a
look at it, It's it's mind boggling. It makes so
much sense. I don't have any risk.
Speaker 2 (19:08):
We we we use that more as a rule of thumb,
but a lot of times it's a very good way
to not get over over investing. Expo Giuseppees, you know,
has created models that actually will a lot of times
invest even less from a percentage because there's exact the
(19:29):
thirty positions in one.
Speaker 3 (19:30):
Model, and mine is very there's very little stock involved
in my retirement portfolio.
Speaker 2 (19:35):
You've got some good dividend pain ETFs. You know. Again,
depending on the goals, the long term nature, what is
it for cash flow? Is it for legacy? Is it
you know, you're still an accumulation. Depending on what your
plan says really determines what type of breakdown of the
(19:56):
five categories of investments you'll have in your portfolio, on
those five categories being stocks, bonds, alternatives, real estate, cash,
cash equivalents.
Speaker 3 (20:07):
And so by the way, I'm the same age as
Donald Trump, I'm seventy eight years old. He just turned
seventy nine, and I'll be seventy nine on October.
Speaker 2 (20:15):
Oh, October. That's right.
Speaker 4 (20:17):
We have to you just have to work on the
haird Yeah, well you don't have a comb ye, And
he clearly but.
Speaker 3 (20:28):
Colors sharpest attack. I mean, he's he keeps on saying
I'm getting tired of winning. I mean he's winning and
winning and winning, and he's not losing.
Speaker 4 (20:37):
He's well, but we do have we still do have
the tariffs. I found a little surprising as he did
a ninety day delay on Mexico when he when he
was you know, in the last handful of days has
been midnight putting a hard line.
Speaker 3 (20:51):
Was August Friday night, Yeah last night, Yeah.
Speaker 4 (20:53):
Right on August first, But he broke and went to Mexico. So,
you know, I'm all for it, and I want to
have the done, but at some point you have to
kind of draw the line and then stick to it.
Otherwise they're going to continue to play and stretch things out,
try to negotiate, think like, oh, maybe we'll get another delay.
Speaker 2 (21:09):
Yeah, do you bet. I mean the nice thing is
is you know, getting jumping back into the FMC, the
Federal Reserve Board chairman and their and their policy of
still kind of maintaining a restrictive uh money monetary policy.
There's still some great rates out there, and so you know,
we're still seeing really getting investors for investors a great point.
(21:35):
So if you're somebody who has a large portfolio or
a large income, whether you're you're not retired or in retirement,
UNI rates individual muni bonds are some pretty good rates.
And and I'm talking about the double tax free insured
uh no a MT. There's some great rates out there.
(21:57):
And then on the corporate side that the bonds are
still great. What what what were some of the last
ones you put in mid fives?
Speaker 3 (22:04):
Mid five mid fives' amazing?
Speaker 2 (22:06):
I mean, obviously it's nothing like what you you experienced
primarily in your beginning working days, where you were getting
people probably eight bonds or whatever in the double double digits.
But mortgages were that as well.
Speaker 3 (22:23):
Yeah, that's unfortunately, it's true.
Speaker 2 (22:25):
So we're not only are we getting seeing these good
corporate rates, we're still seeing great in the alternative strategies,
the structured notes. I mean some of the last ones
we just did there, what were some of the rates.
Speaker 4 (22:38):
Eleven and a quarter with months with monthly payoff frequency,
which is nice. So if you need cash flow it
it creates it. And that's really what we look at is,
you know, the stock paying dividends is quarterly bonds, individual
bonds typically or semi annually. But then some of these
other alternatives helped to even out the income flow because
(23:00):
pan of monthly frequency.
Speaker 2 (23:01):
All right, you're listening to the wise money guys, John's
Gabriel to Seppi Viscani and our guest Ed Autlin. For
more information about some of the things we're talking about,
give us a call at nine one six nine six
seven thirty five hundred and we were diving in a
little bit to some of the tariff data, the other
economic data. We haven't really dove too much into earnings,
(23:23):
but you know, what are some of the takeaways from
the info that came out this week, Giuseppe.
Speaker 4 (23:31):
In general, it's just we continue to see the meat
and beat story continue on, and that is, you know,
as Larry Kudlow says, the mother's milk of of the
of the market, right and and as long as companies
are continuing to profit and grow and grow their earnings
and that's going to continue to be a driver of
(23:52):
the market to continue to climb, right, albeit it's not
going to be a smooth line because we have everything
else in the lot of noise out there. I think
the concerning part for where we are overall in the
stock market and the levels is that we're getting into
like extreme greed. Right, there's like a there's a gauge
(24:13):
and uh CNN has one. Bank of America I think
has one city also I think has one as well.
And it's like the you know, are we in the
fear extreme fear, neutral greed or extreme greed as far
as the sentiment out there and investor world, and I
think we're more in the extreme greed and people are
(24:33):
trying to chase performance, maybe having fomo fear of missing out,
whether it's cryptocurrency, whether it's in Nvidia, whatever the case
may be.
Speaker 2 (24:43):
Right, Yeah, I've heard that before. I've never heard fear fears. Yeah,
that's got that and think about it. I always call it, Oh,
the coast is clear. You know. I wrote a book
on this subject of buying low and and and selling
high versus what people are going to do now without
the proper guidance and proper plan in place, is they're
(25:04):
going to buy high, and we're always one news story,
one economic condition, one world event from the market coming
down ten percent, you know, or more. And then what
happens is people panic, even you know, less skilled, less
credentialed advisors than Giuseppe and I. They panic, and then
(25:27):
they sell you out at lower than what you paid,
and then you wait for the market you know, to
be you know, all clear again and then you go
back in at a high price.
Speaker 4 (25:39):
Or it could be investors going at alone and you're
managing your portfolio and your assets based off of motion,
and you're seeing something that you bought, maybe you bought
Nvidia at one hundred and seventy five dollars a share,
and for whatever reason, it could just be the seasonality
of the market where we're at where things start to
slow down late July, August and September and you start
(26:00):
seeing it go down and you're like, oh my gosh,
and you're going to bail out of it. And it's
hard to make those decisions, especially when it's your money,
you're emotionally tied to it, right, and then making those
wrong decisions and you can you know, really put a
cap and skew your performance, right, which maybe one year
(26:20):
might make a difference, But if you've been doing it
for two years, three years, and we talked about it before,
these past five years have probably been the hardest. I mean,
I got started in the business in two thousand and eight,
which impactfully outside of COVID and the whole world shutting down, right,
that's that's a definite outlier for the markets. But two
thousand and eight was very impactful for the markets overall.
(26:42):
I mean it hit a lot of people. Real estate
was cut in half, which is most people's biggest contributor
of their net worth. But these past five years with COVID,
the world being shut down, then the massive stimulus, then
market's kind of coming back up, then inflation that we
hadn't seen since the seventies, and then market's going down,
(27:03):
bond market going down more than it had in the
in the past forty years, then going back up. I
think it's been the toughest to navigate.
Speaker 2 (27:09):
Yeah, to your point, just sepping it than ed, I
have a question for you. I mean, I just don't
understand why you would be retired and want to do that.
Try to do this yourself with your money, and we
see that and at some point, you know, people couples
usually you know, throw in the towel after they've there's
(27:33):
been a big event like twenty twenty two or twenty
twenty or or the volatility in twenty twenty five, I
mean twenty twenty five. Yeah, it's turning out to be good.
But we still got almost half the year to go.
There's five months to go, and it's not just been
a nice linear uphill march in Aril line in May
(27:55):
was real tough. But because the market's recovered and now
hitting all time high, all time his is like everybody's
got amnesia. So we didn't refer rehearse this ed you're
you're a client, you're retired. I mean, what would you
isn't one of the best things is not having to
worry about where your cash flow is coming from and
not trying. I don't mean to put the words in
(28:17):
their mouth.
Speaker 3 (28:17):
I saw have clients calling me from when I was active.
H One called me last week and she right out
of the blue, she's listening Houston, Texas. Now do I
need life insurance? She's seventy two years old, And I
said you're not married, you don't have any children, you
don't have any grandchildren. Answers, No, right, you don't need it.
(28:37):
You don't need it at all. I don't have it.
I don't have any kids that I know of, so
I don't have life insurance either.
Speaker 2 (28:44):
And you are you are a product of the sixties.
So that's a big accomplishment.
Speaker 3 (28:48):
I guess from that perspective, I ruined everything for all
you guys out there. I'm your one of I'm here
one of the baby boomers. No, to answer your question,
I'm so glad that I don't the marketing that we
are just overwhelmed and seeing on the internet on our
cell phones, you name it. We're there, buy gold, getting
(29:08):
buy our book. Crypto, Yeah, yeah, change your life, you
know hey crypto, Yeah, crypto. They almost got me on
that one, because I started to put five grand in
just before I retired into crypto, and I said, that's
what took a nose dive down to like twenty three
dollars a share of something.
Speaker 2 (29:27):
Oh no, bitcoin went down to it was mid teens,
and it was like sixty thousand, and then dove and.
Speaker 3 (29:34):
Then it held, then it held away from sixty thousand
for years.
Speaker 2 (29:38):
That's over one hundred thousand. But I think the big
point here is that I don't understand it. If you
have money and you're retired, I mean, wouldn't you rather
be barbecuing wagu or smoking wagou steaks, spending time with
your kids, you know, grandkids, whatever the case.
Speaker 3 (29:57):
Not being worth the risk to go ahead and chase shutail.
And that's what we do. We chase our tail. We
buy it the wrong time.
Speaker 2 (30:03):
Oh look at that.
Speaker 3 (30:04):
Look it's one hundred and forty now on crypto or
something like that. Why you don't need it, you're retired,
enjoy your retirement.
Speaker 2 (30:11):
It is proving that he does not pay attention to
the markets, professional currency, It does not have POMO appreciate it.
And it really is indicative of what we actually do
for people. The main thing we do is take the worry,
take the stress out of retirement by us watching your account,
(30:34):
helping you achieve your goals, helping you to you know,
not run out of money, enjoy your enjoy what you
save for thirty forty fty years of.
Speaker 3 (30:44):
Way and never dreamed I enjoy retiring as much as
I'm enjoying it right now. Because you know, men, particularly men,
we form our whole lifestyle around our job.
Speaker 2 (30:55):
Purpose.
Speaker 3 (30:56):
Yeah, then you get a family and kind of try
to break away from the job a little more. I
didn't have any have to wear. My job was my life,
and I thought I'd admission a lot more than I
do because we planned ahead. John actually took me by
the hand and said, listen to me, shut up and
listen to what I have to day, and we'll make
it fine for retirement.
Speaker 2 (31:17):
So if you want to be told shut up and
listen to me, give us a call job actually for
a no obligation consultation and to just get back to
what we said earlier, to really analyze your social security
if you haven't started taking it yet and you're of
age and you're considering should I take it now or
(31:37):
should I wait? We'll do a complete retirement analysis and
let you know whether or not you're going to have
an income shortfall, and what's the best way from what
you've saved to cover that income shortfall, so on and
so forth. Give us a call at nine one six
nine six seven thirty five hundred. You're listening to the
wise money guys, and our guest ed out when and
(32:01):
you had another comment about solid security. Yeah, well we
have one funnal thing, a little bit more about investment. Yeah,
people don't understand social security no matter when you start
taking it. When you're eligible at age sixty two, you
can get basically seventy five percent or seventy percent of
your solid security when you're one hundred percent your age
whatever it is now sixty seven, eight months.
Speaker 3 (32:22):
I think something like that. Well, that's going to last you.
It's going to get more because you didn't take it
at sixty two. Bottom line is the all three the
shortest of sixty two, you're one hundred percent and your
one hundred and thirty percent. They will eventually meet at
at a certain.
Speaker 2 (32:41):
Year in your life.
Speaker 3 (32:41):
About the break even, Yeah, the break even point they
all come together. So it doesn't really matter. It's all
about your health and how long are you going to live. Yeah,
if you don't think you're going to live very long
and you need the money, take it. If you think
you're going to live maybe normal and don't need it,
don't take it. Wait till your seventy time.
Speaker 4 (32:59):
My grandfather breaking records, he's ninety seven, so he's winning.
Speaker 2 (33:03):
Yeah, he's winning. Yeah, Yeah, I can't stress enough how
important you said earlier. Get your statement. Go on to
s SA dot gov get your statement, bring it in
for a no obligation consultation. We'll plug it into our
planning software for you, no charge, no obligation, and we'll
(33:23):
show you what it means for you, especially if you're
in your early sixties, you haven't taken it yet. You
might still be working, or maybe you haven't started working
but you're not or haven't retired, but but you're not
sure what you should do. We could give you some
concrete analysis on helping you understand, you know, based on
(33:47):
some questions that we're going to populate into our planning
tools to help you answer those what ifs. And that's crucial, right,
wouldn't you say, Joseppie, that's the best part about planning.
Speaker 3 (34:00):
Don't think about taking your Social Security until you have
this meeting. You got to have this meeting because once
you take.
Speaker 4 (34:06):
It, you can't go back.
Speaker 2 (34:07):
Yeah, he's kidding.
Speaker 4 (34:09):
I don't want to take it at sixty two. Let's
go ahead and defer to sixty five. It's once it's
it's done, is done.
Speaker 3 (34:13):
And don't bother going to to see people at so
security and asking him questions. They're not allowed to talk
to you. They're not allowed to tell you what to
give you advice. Yeah right, Yeah, they cannot do that.
It's against the law. So you have to talk to
a financial advisor that understands how it works. Once you
understand what they understand, it'll change your life for the better.
Speaker 4 (34:33):
Every time you bet well and just looking at you
know not only when to take it, but how it's
going to impact maybe all your other assets and sources
of income, and then factoring inflation and taxes, right or
if you're or if you're married, and you know how
(34:54):
it infects your spouse, if your spouse maybe survives you.
I mean, there's all these factors that play into it.
Speaker 2 (35:00):
It so whatever the case may be, I think this
is where we really shine is getting back to some
of the things we were talking about early on, is
the cash flow side of things. You know, our focus
when it comes to helping people manage their money, manage
their retirement, you know, accomplish their goals and objectives financially
(35:21):
is first and foremost. How do we protect how do
we reduce risk in your investment choices as your number
one goal?
Speaker 4 (35:32):
Then unless we're all in cash, and how do we
how do we increase the how do.
Speaker 2 (35:39):
Yeah, if you're one hundred percent in cash, you know
you're not going to keep up with inflation. Even though
inflation is cool, The reality is is that if you've
had it in cash, you know, waiting for the win
begain how much how.
Speaker 4 (35:53):
Much will those a five stakes five years ago?
Speaker 2 (35:56):
Yeah?
Speaker 3 (35:56):
Oh oh yeah, I mean you thought of that probably
about three hundred buck Yeah, yeah.
Speaker 2 (36:01):
So you know sixty percent of what they are now?
Speaker 3 (36:05):
Bitcoin went. I didn't buy it.
Speaker 4 (36:07):
Did you get a tariff on on?
Speaker 3 (36:09):
Those?
Speaker 4 (36:09):
Are the Japanese there?
Speaker 2 (36:12):
I was speaking of tariffs. That was one of the
deals that was ink Japan, The EU was inked, UK
is inc.
Speaker 4 (36:22):
What are some of Philippines?
Speaker 2 (36:24):
Philippines, Uh, Vietnam.
Speaker 4 (36:27):
Mexico got delayed, Mexico.
Speaker 2 (36:29):
Delayed, Canada is still up in the air.
Speaker 4 (36:32):
And China, Yeah, I mean China is a I think
China is a big one that can be an event
as you talked about before, whether wondering story or whatever. Yeah,
it is really big, which gives us leverage definitely the negotiation. Yeah.
Speaker 2 (36:49):
Well, and I think the nice thing is is that
also puts Jijing Ping under pressure. I mean, I think
if we can get people, you know, citizens of China
more information, maybe you'll put some pressure on on the
Communist Party. But probably not in my lifetime book. But
nevertheless called nine six nine six seven thirty five hundred
(37:14):
to schedule a no obligation consultation. And by the way,
for more information, you can also visit our website. You
can go to the wisemoneyguys dot com. Actually it's just
wismoneyguys dot com. We have so much resources there. There's
of course a chat bot and they're free, free resource.
There's videos, there's news articles, there's calculators, you name it.
(37:39):
There's of course our disclosures at the bottom, you know,
on at our company. So a visit wisemoneyguys dot com
or give us call it nine six nine six seven
thirty five hundred. Also should mention again because we previously
said that our our next seminar was on August. When
(38:01):
when was it August twenty August twenty fifth, and now
it is September tenth at the Twisted FOURK in Reno,
and it's from six to seven thirty pm. Give us
a call at nine one six nine six seven thirty
five hundred. All right, So you know, I always kind
of like to finish with some of the investment strategies
(38:24):
and things that I used to call them golden ducks nugget. Yeah, yeah,
I really like these. I still like. We briefly mentioned
muti bonds, corporate bonds, but we just glanced over structured notes.
You know what, what are structured notes? Joseppe, no idea.
(38:46):
All right, that's the rest of the wise bunny guys
ready for today.
Speaker 4 (38:51):
Yeah, Structured investments is like a bond and a stock
all wrapped into one because it's tied to a stock
or indices that I seeing is we can custom build them.
So if there's you know, an actual indicy, whether it's
a certain sector like biotechnology or what have you, we
(39:13):
can build it around that. A lot of them typically
around the general induses like SMP five hundred, rest of
two thousand, NASDAQ one hundred. But it gives you some
defined parameters and it gives an opportunity for an outcome
that you're looking forward to. A lot of what we
use because our clients, more of our clients are retired
(39:35):
or nearing retirement, is ones that produce some cash flow,
and so lately, with the environment that we're in, with
us higher interest rate and when volatility starts picking up,
we can get some healthy double digit you know, ten
to eleven north of twelve percent annualize returns and have
a monthly observation date where as long as the indices
(39:56):
that attracts does not go down by thirty percent, and
most of them you know what we've done to thirty percent.
But you can go more aggressive or you have a
lower downside barrier. You could be more conservative where you
have a forty percent downside barrier if you're more conservative
worried about the markets or volatility. But what it does
is as long as it stays within that realm on
(40:18):
a monthly observation, you get one twelfth of the annualized rate.
So you know, eleven and a quarter percent was the
last one that we did. For some clients that made
sense for their portfolios, you're getting almost one percent per month.
You know, as long as the indices don't go down
thirty percent. Now, if we take for example, this year
in April from February nineteen, if you had the worst
of luck, let's say you got into one of these
(40:40):
in February nineteenth, which is a very peak of the
market at that time before we hit these all time
highs recently, and then in April things went down by
twenty to twenty seven percent, depending if it was S
and P five hundred or a Nasdaq even then, and
if you had an observation day even then at that point,
as wild of a ride that was, because it wasn't
down three or more, then you actually get paid out
(41:02):
that month and it continues on.
Speaker 2 (41:04):
Yeah, keep in mind, and you know, I don't want
to end the show certainly on this, but you know
there are no guarantees. I mean, every investment can lose value. Certainly,
past performance isn't a guarantee of what sort of future results.
But these are good. While they're good, and we've been
excited about them, we continue to be excited about them.
(41:27):
And who knows how long It's just like the bond rates,
who knows how long they'll they'll be where they are.
So don't procrastinate, don't let this opportunity pass you by.
These as I said, these structured notes, but JOSEPPI was
just describing they may sound a little bit complicated, so
you definitely want to get in more information, come in
(41:49):
for that consultation so we can show you exactly how
they work, what's the pros, what's the cons so on
and so forth. But I think you'll end up liking
them and they could a big part of your income
strategy during retirement.
Speaker 3 (42:04):
By the way, one thing that people always ask us
when they finally set in front of us is how
do you guys get paid?
Speaker 2 (42:10):
Yeah?
Speaker 3 (42:11):
And we were fee only still fee only, yeah, and
note commissions.
Speaker 2 (42:16):
I don't mention that enough. I appreciate that.
Speaker 3 (42:19):
Ed.
Speaker 2 (42:19):
We're fiduciaries, not work to try to sell some product
that generates some commission. So and we're multi custodian. Most
of our clients are with UH and are We use
the Charles Schwab platform, but we can also use the
Fidelity platform and others. So if you already have an
(42:39):
account at those and want to give us a try
or see how we would do UH managing those things
for you, you don't even have to do new paperwork
or anything. Once again, our number is nine one six
nine six seven thirty five hundred. So I want to
thank our guest, ed outline and back.
Speaker 4 (43:00):
Thanks.
Speaker 2 (43:00):
You were listening to John Scambray to Seppi Vescani the
Wise money Guys. Hope you enjoyed the show, have a
wonderful Saturday. Bye all, have a great weekend. A bye
The Wise Money Guys Radio Show is brought to you
by One Source of Wealth Management SEC licensed three one
nine zero seven eight. For disclosures and more information, visit
our website One Source WM dot com.
Speaker 2 (00:13):
Welcome to the Wise Money Guys Radio Show. I'm your
co host John scambraam here with my partner Giuseppe Vescani,
and we are certified portfolio managers that specialize in helping
people who are retired are about to retire manage their money.
On today's show, we're going to have a blast from
the past, Ed Autlin, who actually got me into radio
(00:35):
about six working on seven years ago, six years ago.
For sure, your show was eighteen years I was on, yeah,
eighteen years. It was Aging with Dignity before I talked
them into changing it to The Wise Money Guys. And
so we'll get into some questions for Ed here in
(00:56):
a bit, But first off, let me go over what
our agenda is today. So we already mentioned we're going
to have a guest, but as usual, we'll talk about
current things going on. We have the Fed who the
battle has reheated up with President Trump, you know, accusing
him of politics but not sure that his positioning was
(01:19):
what the markets wanted, but they seem to be shaking
it off. We'll talk about tariffs, of course, we'll talk
about the record levels for the big three indices, the
S and P, the Nasdaq, the Dow, and then just
to mention, really we had to change the date of
our next workshop because surprisingly, the restaurant that we do
(01:42):
it at in the Reno market was booked pretty much
the whole moment of August. So if you're thinking there's
signs in the economy that that things are starting to
slow down, well it's not being it's not showing up
in the restaurant restaurant Twisted.
Speaker 3 (02:00):
It's all California people that move to Reno.
Speaker 2 (02:03):
Yeah, there you go. That's an excellent ejaculated actually thinking
about that. That's everybody moving from California.
Speaker 3 (02:09):
Last guy out, turn out the lights.
Speaker 2 (02:11):
Yeah, overpopulating Reno. So, just to update you on the
date and time and location, it is in Reno at
the Twisted Fork on September tenth, which is a Wednesday.
We always do an on do them on Wednesdays from
six to seven thirty pm. Give us a call at
nine one six nine six seven thirty five hundred to
(02:34):
register space. Fills up or is taken quickly, so again
called nine one six nine six seven thirty five hundred.
So jiseppe, let's dive in to at least where the
markets are, you know. I mean, we talked about this
last week, we talked about it the week before, and
I'm telling you it just every sort of thing that
we say is coming, they just seem it seems to
(02:56):
shake it off.
Speaker 4 (02:58):
Yeah, earning earnings is you know, the record breaker, record
breaking earnings, especially now we have some tech companies in play,
Meta and Microsoft knocking it out of the park. So
that's just continuing to fuel the fire and the rally
that's been taking place much anticipated on the FED. And
(03:19):
we'll dive more into that. That was kind of a
nothing burger, but when you read, you know, into it
a little bit more, it gives us some more clues
of what might be taking place in September, what's already
baked into the market and the rally, and what might
have to be unwound a little bit as we're heading
into the slower and more volatile season of the market.
Speaker 2 (03:40):
You know, I think I think investors are starting to
get spoiled when they start going you know, look at
the S and P. And there's so much more than
to just looking at the S and P when it
comes to investing, you know, for whatever your long term
goals or or mid term or short term goals are.
But it's it's misleading, if you will, because of the
(04:03):
weighted and the way that the S and P actually
you know, uh goes up or down. It's really still
just the big the big numbers, I mean, the big
companies that put up the big numbers that the S
and P. If you pull those out, we're not at
what twenty percent? Uh we we we hit a trough
(04:26):
of down twenty percent and then we've cut we got
passage off. And then but if you take out the
especially n video that hit four trillion dollars, I mean,
where is the S and P?
Speaker 4 (04:38):
Microsoft Fortullian as well?
Speaker 2 (04:41):
Now yeah, but but again you get more to a
okay year to date, you're probably looking at more of
a four or five percent S and P five hundred
as far as if they're equal weighted versus you.
Speaker 3 (04:55):
Know, now is growing up, we didn't even know the
word trillion exist at that point. That's how old I.
Speaker 4 (05:02):
Mean four how much money just flows around now?
Speaker 2 (05:05):
Yeah? Yeah, I mean it's a good point. And so
speaking of Ed a little bit, this this really has
a lot to do. So Ed, you retired what almost
three years ago now two and a half, two and
a half years, two and a half Ed. Ed was
a partner here at the Wise Money Guys and One
Source Wealth Management now powered by farther. But you know
(05:26):
how I mean, have you seen any effect? I mean,
you retired when you got to the cash flow that
you figured you needed for the rest of your life,
and it worked out just fine. I mean I waited
to have my take my social care until I was
seventy years old. Yeah, so that gave you that extra
thirty three percent from the time full retirement age two
(05:47):
plus three years, four years real quickly. I'm glad you
said that. So when we do a no obligation consultation,
and we do we do a retirement plan analysis, we
can do a social security analysis for you as part
of our planning capabilities. That will go to what Ed's
(06:09):
talking about. Should you wait you know, until you're whatever
your full retirement is sixty seven, sixty six depending on
what age you are, or wait till you're seventy You
waited till you were se.
Speaker 3 (06:22):
Wait, yeah, because I didn't need the money, and they
were guaranteeing they were going to give you an extra
eight percent per year for every year utilitated passed your
one hundred percent year whatever that is. So in my
case it was thirty three percent more. That pretty Uh,
since I didn't need the cash flow, I started working. Yeah,
it just made a lot of.
Speaker 2 (06:39):
Sense to do that being a Social Security Medicare expert,
because you really are what's the latest? Because I remember, oh,
everybody got excited a number of years ago that oh
they were increasing social Security by what was it six
percent or whatever the number was. Then the Medicare costs
(07:02):
went up an equal amount in one hand out the other.
How's that going right now? Especially with this administration or
the administration that just went I mean, what are the
big social Security?
Speaker 3 (07:13):
Those four years under the Biden administration were just terrible
for senior citizens on Social Security because they're using social
Security wrong. Now DOGE came out under Elon Musk and
he solved that problem real quick. We're not going to
allow people that aren't citizens to get the Social Security
that was representing close to thirty percent of all the
money being spent which took it from two thousand and
(07:35):
thirty three, weren't supposed to be out of money.
Speaker 2 (07:37):
Yeah, the narrative was they didn't. They didn't, you know,
I mean mainstream media would say, oh, they're taking away
people's sold security. They weren't taking away American sold security.
They weren't taking people in solid security away who actually
worked their forty quarters and qualified. They were taking it
away from the waste, fraud, and abuse.
Speaker 3 (07:57):
Yeah, I astronomy suggest that anybody that's approaching soci security
with the link that five year window, go ahead and
order up your own paperwork and take a look from
the day you had did your first job all the
way up to the time at the current time right now.
It will show you what if you started at sixty two,
this is what you're going to get it. I'll show
you at sixty six or sixty seven, five months, whatever
(08:18):
it is right now, and then it will show you
at age seventy, which you're going to be able to get.
So the reason I'm recommending that is that you have
a situation where not only are you paying in the
Social Security tax even in retirement, which is about to
be solved by President Trump, they're not going to charge
Social Security taxes against seniors on Social Security, which kind
of stupid, and you think about it, and the other
(08:39):
part is you have met a care on there also
that you've been paying for your entire working life, making
no interest, not making any money at all. Now in
my case, was two hundred and forty seven thousand dollars.
Speaker 2 (08:50):
That I go over your life.
Speaker 3 (08:51):
Over my life I have of working forty plus years,
fifty plus years, So bottom line, I would thought I
will never spend that money. That's the craziest thing. Oh
until until I retired, retired January.
Speaker 2 (09:06):
Third, you're you're in the black. That's right.
Speaker 3 (09:08):
By the time January first of twenty twenty four, world around,
my Medicare expenses had reached eight hundred and sixty seven
thousand dollars.
Speaker 2 (09:18):
Because of open hearts.
Speaker 3 (09:20):
Yeah, so the morals don't retire.
Speaker 2 (09:22):
That's SMaL, But just be diving into that a little
bit because it's one of the things that we really
do for our clients. First of all, we do a
plan as part of our advisory fee for all clients.
That's not an additional cost, but one of the big
things that we do. And maybe you can add some
clarity to this is exactly what the analysis is for
(09:46):
soul security, and then how we take that to determine,
you know, to people have an income shortfall. I mean,
you really are more of our plane expert, I'll tell you, especially.
Speaker 3 (09:57):
In the software you you made a good point because
so you can't live on so security anymore. I don't
care who wait is it's your age seventy, it's just
not enough. The brightest and smartest thing I ever did
is when we partnered up with six seven eight years ago,
I really started focusing heavily on how am I going
to survive and what do I need to do to
(10:18):
create an income. So that's what John and you're just
happy to do now. And it was John and I
at the time. He taught me how to save for
my retirement and I wasn't ready to retire when we
started doing.
Speaker 2 (10:29):
Yeah, your plan was basically never retire.
Speaker 3 (10:31):
Yeah that's it.
Speaker 2 (10:32):
That was it pretty much double dipping.
Speaker 3 (10:34):
But I'm delighted to say that we now have a
plan since I saved for retirement with John when we
were partnered up, we made sure that I was going
to get compensated when I finally do walk away and
that's all done. It's so for a decade. I'm not
worried about it at all. And I have a very
very good mate, significant other who owns a board and
(10:56):
care facility. She has six patients, so.
Speaker 2 (11:00):
For the next phase of the final phase of life,
you'll just go right into one of her staring.
Speaker 3 (11:05):
All my medical issues. She was my caregivers, so that
worth out good.
Speaker 2 (11:08):
God bless her, God bless all Right, Well, you're listening
to the wise mundy guys, John Scambriseppe Veskani and our
guests ed Autlin and Giuseppe. We really need to dive
into those numbers. But before we do, if you're interested
in a social security and retirement analysis with absolutely no
obligation whatsoever, give us a call at nine one six
(11:32):
ninety six seven thirty five hundred. Again, that number is
nine one six nine six seven thirty five hundred.
Speaker 3 (11:39):
I wanted to say one thing, You will not be
sorry because you don't take your social security and plan
on retiring without talking to these guys. It changed my
life dramatically that we I took the time with five years,
the last five years make sure that it was going
to be cared for it, and.
Speaker 2 (11:56):
We didn't pay you to say not a paid testimonial.
Speaker 3 (12:00):
By the way, Well, yeah, yeah, I was kind of
heavy into annuities when I was doing it all by
myself for years, and I realized that's pretty.
Speaker 2 (12:08):
I showed you the light.
Speaker 3 (12:09):
Yeah yeah, I saw the end of the I called.
Speaker 2 (12:11):
Them the a word on our former radio show.
Speaker 3 (12:14):
I was looking down a tunnel and the light of
the end of the tunnel before I met John was
a train coming at me. The light now is an
open tunnel at the other end.
Speaker 2 (12:22):
Beautiful.
Speaker 4 (12:22):
There we go.
Speaker 2 (12:23):
So a lot of a lot of stuff came out
as far as you know economic data, and none bigger
than the f o MC and listening to Drome Powell,
what are some of the highlights of that? How is
it affecting the market? Where are we going from here? Uh?
Speaker 4 (12:37):
Well, the it was basically nothing burger. It was what
we anticipated. There was no uh movement on rates from
the FOMC. And really, I think the big takeaway because
what everybody was focused on is the commentary in his
speech and if there was any hint of potential easy
income September, and there wasn't, and if anything, the focus
(13:02):
or Jerome Pal's focus is really on how unemployment is
at full employment right now, and if you look at
the past year, unemployment has been at four to four
point two percent. It was four point two recently just
moved back down to four point one, and so that
was his main focus. And it's kind of hard to
gauge because first it was all about data dependency and
(13:25):
we're going to be data, data, data and just watch
the data, and previous FFLMC meetings. Now it's been more
of what the assumptions are going to be. How are
the tariff's going to impact inflation. Is it going to
be a one time one off is it going to
be something that's going to drag on a little bit longer.
But because his focus was on unemployment, as long as
(13:45):
the market stays resilient and unemployment stays relatively low, I
don't think we're going to see a rate cut from
Jerome Powell even come September unless there's more pressure and
we see unemployment start ticking up.
Speaker 2 (13:58):
Yeah, why not? Though? Think about that other countries are
being preemptive. I mean, whether it's the UK or the
EU or Japan or why not be preemptive.
Speaker 4 (14:10):
I think their inflation is a little and if you
look at the e I was looking at, their inflations
has gone down a little bit more. And if you
look at it, Germany was in recession.
Speaker 2 (14:18):
Right.
Speaker 4 (14:18):
We we hit a negative quarter and GDP, but look
at the most recent quarter GDP came out was three percent,
which is very healthy. Yeah, very healthy.
Speaker 2 (14:27):
I mean you look under the hood and from everyone.
Speaker 4 (14:29):
Yeah, and there's some things under there that could be
a little controversy of like, oh, this is what pushed
it up to three percent. But nevertheless, you know, we
didn't get the previous quarter because it was contract contractorory
that was not even a word, but because it was
a contraction and it was a negative number.
Speaker 2 (14:45):
That's like the word strategry that well, it's strategic.
Speaker 3 (14:51):
Yeah.
Speaker 4 (14:53):
But but because we've bounced back our economy, the stock markets, resilient,
earnings are coming out, uh for the most part of
their meeting and beating, and and we have still low
and unemployment, it's kind of hard to be in the
position to say, let's just start cutting race.
Speaker 2 (15:12):
Yeah. Ed, you were talking about juicy Real Wago steaks
before the show. How much did those babies hit you for?
And I mean that might be the barometer of inflation.
Speaker 3 (15:24):
Right well, it's also the barometer how much can you
afford to spend when you're in retirement?
Speaker 2 (15:28):
Right well, I want to.
Speaker 3 (15:29):
Yeah, this is genuine a five Japanese what's a five level?
It's upper one tenth of one percent of all the
beef sold in the world.
Speaker 2 (15:40):
Yeah.
Speaker 3 (15:40):
Yeah, Prime is what everybody thinks is the best prime steak.
Well this is about five times better than Prime. And
you look at it and it's mind boggling.
Speaker 2 (15:50):
It looks like it's.
Speaker 3 (15:51):
Meat with butter in it. It's just unbelievable.
Speaker 4 (15:53):
Wow, melts in your mouth.
Speaker 3 (15:55):
I bought four and they gave me an extra win free,
but all of them have their own certific that's what
the cow's number on it. I mean, give me a break.
So that's all built into the price, including the prices,
a certificate.
Speaker 2 (16:06):
And not to plug this place. But so what what
it was?
Speaker 3 (16:09):
I bought it on an internet Alpine Butcher's. It's an
American company. It's a family run business. Oh good, Yeah,
a nice family run business. They sent me an old
thank you card. But I bought I mean I bought
it for special occasions because the entire bill was just
under five hundred dollars for four steaks. So you're buying
your buying ounces of special occasion meat.
Speaker 4 (16:29):
Yeah. How many ounces of meat?
Speaker 2 (16:30):
Yeah?
Speaker 3 (16:30):
And by the way, I do that for a living.
I just I love to smoke me and they do it.
Speaker 2 (16:34):
How big are those four steaks?
Speaker 3 (16:37):
The biggest ones one pound?
Speaker 2 (16:39):
Okay, so sixteen outs yep.
Speaker 3 (16:40):
And the next one's uh eight ounces half a pound
if you will, and the other one's seven ounces, and
then the filet mignon is seven and a half ounces.
Speaker 2 (16:51):
Wow.
Speaker 3 (16:52):
But think about that five hundred bucks for a couple
of pounds of meat.
Speaker 2 (16:55):
So here one's the party. Yeah. So if you'd like
to be able to retire and ford wagu you know
a five A five beef, give us a call it
nine six seven.
Speaker 3 (17:10):
I couldn't have done it without you, John, just put
it that way. When I retired, I wag you is
not on my mind.
Speaker 2 (17:17):
But yeah, well I love your beef jerky certainly. And
the last package you brought me his homemade beef jerky.
I ate the whole thing, just sitting here in one setting.
Speaker 3 (17:28):
I've got a key shirt. This is I smoke meat.
It's what I do, and I know things.
Speaker 2 (17:35):
But here we are, Guseppe, we're at we're at record levels.
I mean, obviously, our our clients are doing extremely well,
even though we tend to focus on reducing risk, you know,
actually diversifying people because many times people with significant means
think they're diversified because they have four different brands of
(17:57):
funds at three different firms, and they think diversified. So
we're able to diversify people truly by looking at what
their core holdings are and then actually focus on cash
flow like we did for Ed. Ed retired when he
got to the cash flow that he needed the level
(18:17):
to make it make sense. And a lot of times
for our retirees we actually help them increase their cash
flow and meet their shortfalls.
Speaker 3 (18:25):
But one of the most important things that John taught me,
and he's a certified we're folio manager and I wasn't.
Speaker 2 (18:31):
I was just an account actually, Giuseppe talked me into that.
Speaker 3 (18:34):
Yeah, so they both are. And that's the cream of
the crop. Even though it's Columbia University, it's got a
bad attitude going right, Yeah. Anyway, bottom line is the reason.
The one thing John taught me that you need to
know before you even show up with that in person meeting,
John will never put more than five percent of your
money into one entity. Never Now think about that. The
(18:59):
way he's gone diversifies your portfolio. Once he's taken a
look at it, It's it's mind boggling. It makes so
much sense. I don't have any risk.
Speaker 2 (19:08):
We we we use that more as a rule of thumb,
but a lot of times it's a very good way
to not get over over investing. Expo Giuseppees, you know,
has created models that actually will a lot of times
invest even less from a percentage because there's exact the
(19:29):
thirty positions in one.
Speaker 3 (19:30):
Model, and mine is very there's very little stock involved
in my retirement portfolio.
Speaker 2 (19:35):
You've got some good dividend pain ETFs. You know. Again,
depending on the goals, the long term nature, what is
it for cash flow? Is it for legacy? Is it
you know, you're still an accumulation. Depending on what your
plan says really determines what type of breakdown of the
(19:56):
five categories of investments you'll have in your portfolio, on
those five categories being stocks, bonds, alternatives, real estate, cash,
cash equivalents.
Speaker 3 (20:07):
And so by the way, I'm the same age as
Donald Trump, I'm seventy eight years old. He just turned
seventy nine, and I'll be seventy nine on October.
Speaker 2 (20:15):
Oh, October. That's right.
Speaker 4 (20:17):
We have to you just have to work on the
haird Yeah, well you don't have a comb ye, And
he clearly but.
Speaker 3 (20:28):
Colors sharpest attack. I mean, he's he keeps on saying
I'm getting tired of winning. I mean he's winning and
winning and winning, and he's not losing.
Speaker 4 (20:37):
He's well, but we do have we still do have
the tariffs. I found a little surprising as he did
a ninety day delay on Mexico when he when he
was you know, in the last handful of days has
been midnight putting a hard line.
Speaker 3 (20:51):
Was August Friday night, Yeah last night, Yeah.
Speaker 4 (20:53):
Right on August first, But he broke and went to Mexico. So,
you know, I'm all for it, and I want to
have the done, but at some point you have to
kind of draw the line and then stick to it.
Otherwise they're going to continue to play and stretch things out,
try to negotiate, think like, oh, maybe we'll get another delay.
Speaker 2 (21:09):
Yeah, do you bet. I mean the nice thing is
is you know, getting jumping back into the FMC, the
Federal Reserve Board chairman and their and their policy of
still kind of maintaining a restrictive uh money monetary policy.
There's still some great rates out there, and so you know,
we're still seeing really getting investors for investors a great point.
(21:35):
So if you're somebody who has a large portfolio or
a large income, whether you're you're not retired or in retirement,
UNI rates individual muni bonds are some pretty good rates.
And and I'm talking about the double tax free insured
uh no a MT. There's some great rates out there.
(21:57):
And then on the corporate side that the bonds are
still great. What what what were some of the last
ones you put in mid fives?
Speaker 3 (22:04):
Mid five mid fives' amazing?
Speaker 2 (22:06):
I mean, obviously it's nothing like what you you experienced
primarily in your beginning working days, where you were getting
people probably eight bonds or whatever in the double double digits.
But mortgages were that as well.
Speaker 3 (22:23):
Yeah, that's unfortunately, it's true.
Speaker 2 (22:25):
So we're not only are we getting seeing these good
corporate rates, we're still seeing great in the alternative strategies,
the structured notes. I mean some of the last ones
we just did there, what were some of the rates.
Speaker 4 (22:38):
Eleven and a quarter with months with monthly payoff frequency,
which is nice. So if you need cash flow it
it creates it. And that's really what we look at is,
you know, the stock paying dividends is quarterly bonds, individual
bonds typically or semi annually. But then some of these
other alternatives helped to even out the income flow because
(23:00):
pan of monthly frequency.
Speaker 2 (23:01):
All right, you're listening to the wise money guys, John's
Gabriel to Seppi Viscani and our guest Ed Autlin. For
more information about some of the things we're talking about,
give us a call at nine one six nine six
seven thirty five hundred and we were diving in a
little bit to some of the tariff data, the other
economic data. We haven't really dove too much into earnings,
(23:23):
but you know, what are some of the takeaways from
the info that came out this week, Giuseppe.
Speaker 4 (23:31):
In general, it's just we continue to see the meat
and beat story continue on, and that is, you know,
as Larry Kudlow says, the mother's milk of of the
of the market, right and and as long as companies
are continuing to profit and grow and grow their earnings
and that's going to continue to be a driver of
(23:52):
the market to continue to climb, right, albeit it's not
going to be a smooth line because we have everything
else in the lot of noise out there. I think
the concerning part for where we are overall in the
stock market and the levels is that we're getting into
like extreme greed. Right, there's like a there's a gauge
(24:13):
and uh CNN has one. Bank of America I think
has one city also I think has one as well.
And it's like the you know, are we in the
fear extreme fear, neutral greed or extreme greed as far
as the sentiment out there and investor world, and I
think we're more in the extreme greed and people are
(24:33):
trying to chase performance, maybe having fomo fear of missing out,
whether it's cryptocurrency, whether it's in Nvidia, whatever the case
may be.
Speaker 2 (24:43):
Right, Yeah, I've heard that before. I've never heard fear fears. Yeah,
that's got that and think about it. I always call it, Oh,
the coast is clear. You know. I wrote a book
on this subject of buying low and and and selling
high versus what people are going to do now without
the proper guidance and proper plan in place, is they're
(25:04):
going to buy high, and we're always one news story,
one economic condition, one world event from the market coming
down ten percent, you know, or more. And then what
happens is people panic, even you know, less skilled, less
credentialed advisors than Giuseppe and I. They panic, and then
(25:27):
they sell you out at lower than what you paid,
and then you wait for the market you know, to
be you know, all clear again and then you go
back in at a high price.
Speaker 4 (25:39):
Or it could be investors going at alone and you're
managing your portfolio and your assets based off of motion,
and you're seeing something that you bought, maybe you bought
Nvidia at one hundred and seventy five dollars a share,
and for whatever reason, it could just be the seasonality
of the market where we're at where things start to
slow down late July, August and September and you start
(26:00):
seeing it go down and you're like, oh my gosh,
and you're going to bail out of it. And it's
hard to make those decisions, especially when it's your money,
you're emotionally tied to it, right, and then making those
wrong decisions and you can you know, really put a
cap and skew your performance, right, which maybe one year
(26:20):
might make a difference, But if you've been doing it
for two years, three years, and we talked about it before,
these past five years have probably been the hardest. I mean,
I got started in the business in two thousand and eight,
which impactfully outside of COVID and the whole world shutting down, right,
that's that's a definite outlier for the markets. But two
thousand and eight was very impactful for the markets overall.
(26:42):
I mean it hit a lot of people. Real estate
was cut in half, which is most people's biggest contributor
of their net worth. But these past five years with COVID,
the world being shut down, then the massive stimulus, then
market's kind of coming back up, then inflation that we
hadn't seen since the seventies, and then market's going down,
(27:03):
bond market going down more than it had in the
in the past forty years, then going back up. I
think it's been the toughest to navigate.
Speaker 2 (27:09):
Yeah, to your point, just sepping it than ed, I
have a question for you. I mean, I just don't
understand why you would be retired and want to do that.
Try to do this yourself with your money, and we
see that and at some point, you know, people couples
usually you know, throw in the towel after they've there's
(27:33):
been a big event like twenty twenty two or twenty
twenty or or the volatility in twenty twenty five, I
mean twenty twenty five. Yeah, it's turning out to be good.
But we still got almost half the year to go.
There's five months to go, and it's not just been
a nice linear uphill march in Aril line in May
(27:55):
was real tough. But because the market's recovered and now
hitting all time high, all time his is like everybody's
got amnesia. So we didn't refer rehearse this ed you're
you're a client, you're retired. I mean, what would you
isn't one of the best things is not having to
worry about where your cash flow is coming from and
not trying. I don't mean to put the words in
(28:17):
their mouth.
Speaker 3 (28:17):
I saw have clients calling me from when I was active.
H One called me last week and she right out
of the blue, she's listening Houston, Texas. Now do I
need life insurance? She's seventy two years old, And I
said you're not married, you don't have any children, you
don't have any grandchildren. Answers, No, right, you don't need it.
(28:37):
You don't need it at all. I don't have it.
I don't have any kids that I know of, so
I don't have life insurance either.
Speaker 2 (28:44):
And you are you are a product of the sixties.
So that's a big accomplishment.
Speaker 3 (28:48):
I guess from that perspective, I ruined everything for all
you guys out there. I'm your one of I'm here
one of the baby boomers. No, to answer your question,
I'm so glad that I don't the marketing that we
are just overwhelmed and seeing on the internet on our
cell phones, you name it. We're there, buy gold, getting
(29:08):
buy our book. Crypto, Yeah, yeah, change your life, you
know hey crypto, Yeah, crypto. They almost got me on
that one, because I started to put five grand in
just before I retired into crypto, and I said, that's
what took a nose dive down to like twenty three
dollars a share of something.
Speaker 2 (29:27):
Oh no, bitcoin went down to it was mid teens,
and it was like sixty thousand, and then dove and.
Speaker 3 (29:34):
Then it held, then it held away from sixty thousand
for years.
Speaker 2 (29:38):
That's over one hundred thousand. But I think the big
point here is that I don't understand it. If you
have money and you're retired, I mean, wouldn't you rather
be barbecuing wagu or smoking wagou steaks, spending time with
your kids, you know, grandkids, whatever the case.
Speaker 3 (29:57):
Not being worth the risk to go ahead and chase shutail.
And that's what we do. We chase our tail. We
buy it the wrong time.
Speaker 2 (30:03):
Oh look at that.
Speaker 3 (30:04):
Look it's one hundred and forty now on crypto or
something like that. Why you don't need it, you're retired,
enjoy your retirement.
Speaker 2 (30:11):
It is proving that he does not pay attention to
the markets, professional currency, It does not have POMO appreciate it.
And it really is indicative of what we actually do
for people. The main thing we do is take the worry,
take the stress out of retirement by us watching your account,
(30:34):
helping you achieve your goals, helping you to you know,
not run out of money, enjoy your enjoy what you
save for thirty forty fty years of.
Speaker 3 (30:44):
Way and never dreamed I enjoy retiring as much as
I'm enjoying it right now. Because you know, men, particularly men,
we form our whole lifestyle around our job.
Speaker 2 (30:55):
Purpose.
Speaker 3 (30:56):
Yeah, then you get a family and kind of try
to break away from the job a little more. I
didn't have any have to wear. My job was my life,
and I thought I'd admission a lot more than I
do because we planned ahead. John actually took me by
the hand and said, listen to me, shut up and
listen to what I have to day, and we'll make
it fine for retirement.
Speaker 2 (31:17):
So if you want to be told shut up and
listen to me, give us a call job actually for
a no obligation consultation and to just get back to
what we said earlier, to really analyze your social security
if you haven't started taking it yet and you're of
age and you're considering should I take it now or
(31:37):
should I wait? We'll do a complete retirement analysis and
let you know whether or not you're going to have
an income shortfall, and what's the best way from what
you've saved to cover that income shortfall, so on and
so forth. Give us a call at nine one six
nine six seven thirty five hundred. You're listening to the
wise money guys, and our guest ed out when and
(32:01):
you had another comment about solid security. Yeah, well we
have one funnal thing, a little bit more about investment. Yeah,
people don't understand social security no matter when you start
taking it. When you're eligible at age sixty two, you
can get basically seventy five percent or seventy percent of
your solid security when you're one hundred percent your age
whatever it is now sixty seven, eight months.
Speaker 3 (32:22):
I think something like that. Well, that's going to last you.
It's going to get more because you didn't take it
at sixty two. Bottom line is the all three the
shortest of sixty two, you're one hundred percent and your
one hundred and thirty percent. They will eventually meet at
at a certain.
Speaker 2 (32:41):
Year in your life.
Speaker 3 (32:41):
About the break even, Yeah, the break even point they
all come together. So it doesn't really matter. It's all
about your health and how long are you going to live. Yeah,
if you don't think you're going to live very long
and you need the money, take it. If you think
you're going to live maybe normal and don't need it,
don't take it. Wait till your seventy time.
Speaker 4 (32:59):
My grandfather breaking records, he's ninety seven, so he's winning.
Speaker 2 (33:03):
Yeah, he's winning. Yeah, Yeah, I can't stress enough how
important you said earlier. Get your statement. Go on to
s SA dot gov get your statement, bring it in
for a no obligation consultation. We'll plug it into our
planning software for you, no charge, no obligation, and we'll
(33:23):
show you what it means for you, especially if you're
in your early sixties, you haven't taken it yet. You
might still be working, or maybe you haven't started working
but you're not or haven't retired, but but you're not
sure what you should do. We could give you some
concrete analysis on helping you understand, you know, based on
(33:47):
some questions that we're going to populate into our planning
tools to help you answer those what ifs. And that's crucial, right,
wouldn't you say, Joseppie, that's the best part about planning.
Speaker 3 (34:00):
Don't think about taking your Social Security until you have
this meeting. You got to have this meeting because once
you take.
Speaker 4 (34:06):
It, you can't go back.
Speaker 2 (34:07):
Yeah, he's kidding.
Speaker 4 (34:09):
I don't want to take it at sixty two. Let's
go ahead and defer to sixty five. It's once it's
it's done, is done.
Speaker 3 (34:13):
And don't bother going to to see people at so
security and asking him questions. They're not allowed to talk
to you. They're not allowed to tell you what to
give you advice. Yeah right, Yeah, they cannot do that.
It's against the law. So you have to talk to
a financial advisor that understands how it works. Once you
understand what they understand, it'll change your life for the better.
Speaker 4 (34:33):
Every time you bet well and just looking at you
know not only when to take it, but how it's
going to impact maybe all your other assets and sources
of income, and then factoring inflation and taxes, right or
if you're or if you're married, and you know how
(34:54):
it infects your spouse, if your spouse maybe survives you.
I mean, there's all these factors that play into it.
Speaker 2 (35:00):
It so whatever the case may be, I think this
is where we really shine is getting back to some
of the things we were talking about early on, is
the cash flow side of things. You know, our focus
when it comes to helping people manage their money, manage
their retirement, you know, accomplish their goals and objectives financially
(35:21):
is first and foremost. How do we protect how do
we reduce risk in your investment choices as your number
one goal?
Speaker 4 (35:32):
Then unless we're all in cash, and how do we
how do we increase the how do.
Speaker 2 (35:39):
Yeah, if you're one hundred percent in cash, you know
you're not going to keep up with inflation. Even though
inflation is cool, The reality is is that if you've
had it in cash, you know, waiting for the win
begain how much how.
Speaker 4 (35:53):
Much will those a five stakes five years ago?
Speaker 2 (35:56):
Yeah?
Speaker 3 (35:56):
Oh oh yeah, I mean you thought of that probably
about three hundred buck Yeah, yeah.
Speaker 2 (36:01):
So you know sixty percent of what they are now?
Speaker 3 (36:05):
Bitcoin went. I didn't buy it.
Speaker 4 (36:07):
Did you get a tariff on on?
Speaker 3 (36:09):
Those?
Speaker 4 (36:09):
Are the Japanese there?
Speaker 2 (36:12):
I was speaking of tariffs. That was one of the
deals that was ink Japan, The EU was inked, UK
is inc.
Speaker 4 (36:22):
What are some of Philippines?
Speaker 2 (36:24):
Philippines, Uh, Vietnam.
Speaker 4 (36:27):
Mexico got delayed, Mexico.
Speaker 2 (36:29):
Delayed, Canada is still up in the air.
Speaker 4 (36:32):
And China, Yeah, I mean China is a I think
China is a big one that can be an event
as you talked about before, whether wondering story or whatever. Yeah,
it is really big, which gives us leverage definitely the negotiation. Yeah.
Speaker 2 (36:49):
Well, and I think the nice thing is is that
also puts Jijing Ping under pressure. I mean, I think
if we can get people, you know, citizens of China
more information, maybe you'll put some pressure on on the
Communist Party. But probably not in my lifetime book. But
nevertheless called nine six nine six seven thirty five hundred
(37:14):
to schedule a no obligation consultation. And by the way,
for more information, you can also visit our website. You
can go to the wisemoneyguys dot com. Actually it's just
wismoneyguys dot com. We have so much resources there. There's
of course a chat bot and they're free, free resource.
There's videos, there's news articles, there's calculators, you name it.
(37:39):
There's of course our disclosures at the bottom, you know,
on at our company. So a visit wisemoneyguys dot com
or give us call it nine six nine six seven
thirty five hundred. Also should mention again because we previously
said that our our next seminar was on August. When
(38:01):
when was it August twenty August twenty fifth, and now
it is September tenth at the Twisted FOURK in Reno,
and it's from six to seven thirty pm. Give us
a call at nine one six nine six seven thirty
five hundred. All right, So you know, I always kind
of like to finish with some of the investment strategies
(38:24):
and things that I used to call them golden ducks nugget. Yeah, yeah,
I really like these. I still like. We briefly mentioned
muti bonds, corporate bonds, but we just glanced over structured notes.
You know what, what are structured notes? Joseppe, no idea.
(38:46):
All right, that's the rest of the wise bunny guys
ready for today.
Speaker 4 (38:51):
Yeah, Structured investments is like a bond and a stock
all wrapped into one because it's tied to a stock
or indices that I seeing is we can custom build them.
So if there's you know, an actual indicy, whether it's
a certain sector like biotechnology or what have you, we
(39:13):
can build it around that. A lot of them typically
around the general induses like SMP five hundred, rest of
two thousand, NASDAQ one hundred. But it gives you some
defined parameters and it gives an opportunity for an outcome
that you're looking forward to. A lot of what we
use because our clients, more of our clients are retired
(39:35):
or nearing retirement, is ones that produce some cash flow,
and so lately, with the environment that we're in, with
us higher interest rate and when volatility starts picking up,
we can get some healthy double digit you know, ten
to eleven north of twelve percent annualize returns and have
a monthly observation date where as long as the indices
(39:56):
that attracts does not go down by thirty percent, and
most of them you know what we've done to thirty percent.
But you can go more aggressive or you have a
lower downside barrier. You could be more conservative where you
have a forty percent downside barrier if you're more conservative
worried about the markets or volatility. But what it does
is as long as it stays within that realm on
(40:18):
a monthly observation, you get one twelfth of the annualized rate.
So you know, eleven and a quarter percent was the
last one that we did. For some clients that made
sense for their portfolios, you're getting almost one percent per month.
You know, as long as the indices don't go down
thirty percent. Now, if we take for example, this year
in April from February nineteen, if you had the worst
of luck, let's say you got into one of these
(40:40):
in February nineteenth, which is a very peak of the
market at that time before we hit these all time
highs recently, and then in April things went down by
twenty to twenty seven percent, depending if it was S
and P five hundred or a Nasdaq even then, and
if you had an observation day even then at that point,
as wild of a ride that was, because it wasn't
down three or more, then you actually get paid out
(41:02):
that month and it continues on.
Speaker 2 (41:04):
Yeah, keep in mind, and you know, I don't want
to end the show certainly on this, but you know
there are no guarantees. I mean, every investment can lose value. Certainly,
past performance isn't a guarantee of what sort of future results.
But these are good. While they're good, and we've been
excited about them, we continue to be excited about them.
(41:27):
And who knows how long It's just like the bond rates,
who knows how long they'll they'll be where they are.
So don't procrastinate, don't let this opportunity pass you by.
These as I said, these structured notes, but JOSEPPI was
just describing they may sound a little bit complicated, so
you definitely want to get in more information, come in
(41:49):
for that consultation so we can show you exactly how
they work, what's the pros, what's the cons so on
and so forth. But I think you'll end up liking
them and they could a big part of your income
strategy during retirement.
Speaker 3 (42:04):
By the way, one thing that people always ask us
when they finally set in front of us is how
do you guys get paid?
Speaker 2 (42:10):
Yeah?
Speaker 3 (42:11):
And we were fee only still fee only, yeah, and
note commissions.
Speaker 2 (42:16):
I don't mention that enough. I appreciate that.
Speaker 3 (42:19):
Ed.
Speaker 2 (42:19):
We're fiduciaries, not work to try to sell some product
that generates some commission. So and we're multi custodian. Most
of our clients are with UH and are We use
the Charles Schwab platform, but we can also use the
Fidelity platform and others. So if you already have an
(42:39):
account at those and want to give us a try
or see how we would do UH managing those things
for you, you don't even have to do new paperwork
or anything. Once again, our number is nine one six
nine six seven thirty five hundred. So I want to
thank our guest, ed outline and back.
Speaker 4 (43:00):
Thanks.
Speaker 2 (43:00):
You were listening to John Scambray to Seppi Vescani the
Wise money Guys. Hope you enjoyed the show, have a
wonderful Saturday. Bye all, have a great weekend. A bye
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