November 23, 2025 • 56 mins
In this week's special episode, Mike talks to Tammy Reid, wife of head coach Andy Reid, about the joy of giving, and the Giving Machines located in Union Station in Kansas City (and elsewhere). Mike and David also discuss finding purpose in your encore years, and how giving of your time and talents can help you find purpose in retirement.
Giving Machines: https://www.churchofjesuschrist.org/welcome/christmas/light-the-world/giving-machines?lang=eng
JustServe: https://www.justserve.org/
Text your questions to 913-363-1234.
Request Your Wealth Analysis by going to www.retireontime.com
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Mike (00:10):
Welcome to How to Retire On Time, a show that answers
your retirement Say goodbye tothe oversimplified advice you've
heard hundreds of times. Thatsaid, we've got a special show
lined up for today. This is notnecessarily about retirement
planning. This is aboutcharitable gifting. It's the end
of the season, and we areexcited to really highlight that
for the next hour or so.
(00:30):
Joining me, I'm Mike Decker withKedric Wealth. David Franson
here, and we've got a specialguest to kick off the show. The
one, the only, the head coach ofthe head coach of the Kansas
City Chiefs, Tammy Reed. Tammy,thanks for joining us today.
Tammy (00:43):
You're welcome. It's good to be on.
Mike (00:45):
It's good to have you here calling in. I know you're very
busy, so thanks for doing theshow and really highlighting the
importance of charity. Butbefore we dive into that, I'm
just kinda curious. You've gotso much going on. You've got so
many fun stories.
Does your family have, like, afun holiday tradition,
Thanksgiving, Christmas, kind ofthis time of the year?
Tammy (01:03):
Well, yes. We have all the traditional things. If and
when we get to do them on theholidays, we still do them
because we're playing onThanksgiving this year in
Dallas. We won't get to haveThanksgiving till the day after.
And we're playing here onChristmas, so we won't get to
have Christmas till the dayafter, but we still do the
(01:24):
traditional things at Christmasand Thanksgiving.
But we also have some charitablethings we do. Since our kids
were little, we've alwaysadopted a family from whatever
organization that we're workingwith at the time. I was on the
board of Laurel House, a shelterfor domestic violence back in
the Philadelphia area, so weadopted a family or two every
(01:44):
year for that and would the kidsloved going to the store,
picking out the gifts for theage of the child or whatever. It
was it was a blast. We wouldhave carts filled because a lot
of times they're like, one tofive gifts?
And we're like, oh, we'regetting five. I'm just you know,
we're so blessed that we like togive back. And then now that
we're in Kansas City, we also dothe our chiefs women's
(02:07):
organization does operationbreakthrough, and we also adopt
a family for that. And it couldhave anywhere from two to seven
kids. And now my kids aren'tinvolved with it.
Just me and
Mike (02:18):
Can anyone do this kind of a thing? I mean, is it easy just
to get connected with thefamily? Or
Tammy (02:23):
You know what? The Chiefs Women's Organization does it
just through operationbreakthrough, but I bet if you
called operation breakthrough, Ibet there's a lot of places,
homeless shelters. I bet thereare domestic violence shelters
that if you just call one ofthose, I bet they have a need
for something like that if yourfamily wants to get involved.
Mike (02:46):
Yeah. And you can reach out to us here at Kedric Wealth
or just the bottom of thepodcast if you're listening to
it this way. We're going toinclude just different ideas on
how to serve and give back. Theunfortunate reality is here in
Kansas City, unemployment is alittle bit higher than the
national average. That's tough,especially as we're getting into
the holiday season, when youwanna give, when you wanna be
with your family, and things aretight.
(03:08):
For those of us who are blessed,if we can do that, there are so
many ways we could do that. Wecould gift or, you know, pay it
forward or or whatever you wannacall it. Tell me, is there any
easy way that you can just kindof gift? Let let's say you have
a little extra. You've budgetedout a little bit.
You're trying to do good in theworld, but maybe you don't know
someone that's really in need,or maybe you just don't know how
(03:31):
to give it to them in the rightway. I mean, what's what's an
easy way that people are able togive?
Tammy (03:36):
Well, we just so happen to have the giving machines
going in at Union Station thisyear, and they will be there all
the way till January 1. I thinkthey're taking them away January
1, but that's an amazing way togive back. And the fun part of
the giving machines is it's likea vending machine where you can
(03:56):
put your card in and pick anitem to donate to. There's,
like, eight charities in thegiving machine vending machine.
And you can pick, like, lastyear we had goats.
We had, donate socks toveterans, beds for different
organizations, baby beds, toys.The fun thing about that one is
(04:18):
that we take our grandkids downthere, and they have the best
time. And we have probably ahigher limit than most people
because we've been so blessedthat we'll have a higher limit
of money that we would like todonate to this machine. Mhmm.
And so our grandkids all get topick one to five items that they
will donate to someone.
(04:38):
And the fun part is once youpick the items, it just the
cards just start dropping downinto the bottom of the machine,
and you can see, oh, I'm givinga goat to somebody. Oh, I'm
giving a dresser to somebody.I'm giving whatever the items
are in the machine. And that's afun thing to do with your
family, but also you get to goto Union Station where they are,
(05:00):
and there's so many activitiesthere as well. So it's kinda
like a win win.
You get to do a fun family eventday or night and visit some of
the things at Union Station, butalso give back to our community.
The six of them are right herein our community in Kansas City
and the greater Kansas Cityarea, and then two of them are
international organizations.
Mike (05:22):
And so you just you put your credit card in there. You
pick out the gift, and then Yes.This is supported by the Church
of Jesus Christ of Latter daySaints.
Tammy (05:30):
So It is.
Mike (05:31):
I don't know how the story came about, but the idea is how
do you make Christ like giftingcharity easy? And I I can't
think of an easier way thanMhmm. You click a button.
Correct me if I'm wrong. A 100%goes to the charity.
The church does not take anymoney for operational costs or
anything. It just all of it goesto the cause. Is that right?
Tammy (05:53):
Exactly. In fact, the church of Jesus Christ for
Latter day Saints, it's mychurch, gives the money for the
credit card fee if you don'twanna pay the fee yourself. They
do all of the operating money.They take care of all that. So a
100% goes to the people.
And there's items I think assmall as $5 if you only have $5,
(06:14):
and there's items up to, like, afew $100. And the fun thing my
my grandkids like to do now, andwe did this several times, is if
you push $7.07 7
Mike (06:26):
Mhmm.
Tammy (06:27):
It will donate one of every single item in the
machine. And I think there's Ithink there's, like, 35 items
maybe. I I can't remember fromlast year. But just to watch the
kids watch those go down andthey count them. One, two,
three.
It's so much fun. And the joythat they get from doing
(06:48):
something like that is whatmakes my heart so happy to see
that our grandkids want to giveback, and they can do it, you
know, through these machines.They're amazing.
Mike (06:59):
It's a way that we can be human and help people.
Tammy (07:02):
Yeah. Exactly.
David (07:03):
And so do your grandkids
Tammy (07:04):
forward a little bit.
David (07:05):
What have you noticed their favorite, like, item is to
donate?
Tammy (07:08):
Oh my god. Goats and chickens. Who doesn't wanna give
a goat and a chicken? But thenthere, you know, our older ones
are a little more thoughtful.They're like, Sparkle, somebody
needs a bed.
And, like, can we donate a bed?I go, absolutely. Or somebody
needs groceries. I'm like, yes.Let's get groceries for someone.
The items are very curated byeach of the organizations that
(07:32):
are their most needed items. Andso it's great to see the kids
really study the machine andlook at them and pick what they
really want to give.
Mike (07:42):
I'm looking at the list here that was given to me about
the goat. I think it's $86 tobuy a goat. And the interesting
thing about a goat, it feeds thefamily. So there's a food
solution there, but there's asurplus, so it also creates a
business that allows them tosell extra milk, and that pays
for school supplies and otherthings as well.
Tammy (08:04):
It's the gift that keeps giving. That's for sure. Like,
these are helping people have abetter way of life and to
provide for their family whilealso feeding their family.
Mike (08:15):
I see one for a local charity, 300 pounds of produce.
Another one, six whole chickensfor someone in need. Yeah.
Hygiene supplies, week ofgroceries. Yes.
It's incredible. And you don'tknow who to help, but you know
if you buy it, it's going tohelp someone. And someone local
here
David (08:34):
in Kansas City.
Tammy (08:35):
Yeah. Maybe not the goats. Those goats in the
castle.
David (08:38):
But International. Right?
Tammy (08:39):
And I don't know what the items are this year. There may
not be any goats this year. Idon't know. There is. May not be
any chickens.
I haven't even looked at thelist yet. I'm, like, behind the
eight ball here.
Mike (08:49):
Well, there's even refugee female kits for those that don't
have access to that, which you'dthink everyone has access to
that. There's a large part ofthe world that doesn't have
access to that, which is justnuts.
Tammy (09:00):
It's mind boggling in 2025 that the whole world is not
doing okay. So that's where westep in and do our part.
Mike (09:09):
Make it a priority. For everyone listening Kansas City
or those in the podcastelsewhere, let us know if you
wanna donate to Kansas City or
David (09:16):
There are other giving machines around the country.
Mike (09:18):
Yeah. I don't know.
David (09:19):
There's a list somewhere on there.
Mike (09:20):
Google giving machines or or DuckDuck or whatever your
search engine is. Yeah. Yeah.It's the time Give back. To
give.
If you can afford to give alittle extra, there are so many
people in need.
Tammy (09:32):
Yeah. The thing I love best is that it's a fun family
activity. It's something you cando practically free just going
to Union Station, But then youif you have 25, you donate $25,
and then you just go see thesights and sounds.
Mike (09:46):
Tammy, thank you for joining us today and kicking off
our show.
Tammy (09:49):
Thank you. Y'all do a great job, so I appreciate y'all
having me on.
Mike (09:53):
Ain't she great? Good old good old Tammy Regan. Tammy's
great. Yes. Let's keep goingthough with the show, and I
wanna highlight a couple ofthings about the giving machine
that weren't really mentioned.
It's interesting that you havethe church, the Church of Jesus
Christ of Latter day Saints, andhow they're not being selfish or
trying to push anything around.Like, they've got here Catholic
(10:16):
charities. Yep. You know, one ofthe greatest charities of all,
collaborating on a local level.So there's there's a sense of
community here.
There's Halo, which is anothercharity, Happy Buttons, Mayor's
Christmas Trees, Science City
David (10:31):
Mhmm.
Mike (10:32):
Harvesters, Community Food Network. These are all charities
that help the local communityhere. Right. Things stay local.
As I've become more successfulin life, as I've been blessed
Uh-huh.
It's harder. You just you don'treally know how to help people
the same or in that certain way.Like, you don't know that random
person across town that's reallyin need. You might have a friend
(10:55):
that just needs a goodconversation. Yeah.
But to help people that reallyare in need, and it's going to
become, in my opinion, moreprevalent, AI is making it more
difficult to get into the jobforce. Just chew on that for a
second.
David (11:11):
And how does that manifest itself? Like, what are
you seeing out there? Like, wehear in the headlines that
Amazon, some number of people,what jobs are leaving, and why,
and what can we do about it, ifIt's
Mike (11:24):
easy jobs. Not even easy jobs. Entry level jobs, busyness
jobs. Jobs where you just kindof you take an order, you put it
in there, and you're just done.Those are being replaced, not
just by AI, but by robotics aswell.
Mhmm. I was at I was at aconference the other week. And
and coming back in Detroit atthe airport, I got a burger.
(11:45):
Yeah. I've never had a wallburger before.
I was like, oh, I'll try thisout. And I see in the back,
like, it's just a robot cookingthe fries. Really? So people
need to get an education. Peopleneed to develop skills so that
they're not replaced, but youcan't stop what's coming.
And especially in Kansas Cityright now, among other places,
(12:06):
we have a higher unemploymentrate. That's a problem. People
are struggling, and it's goingto get worse before it gets
better. I don't proclaim to havethe solutions to all of this.
Mhmm.
But look at this list righthere. We got was it $60 for 300
pounds of produce Yeah. That'sgonna help feed people. Six
(12:27):
whole chickens,
David (12:28):
five food boxes, like That's all going to harvesters.
Mike (12:33):
Yeah. These are easy things you could spend money,
make an evening out of it. LoveUnion Station.
David (12:38):
Yeah. It's fun going there. I mean, we need an excuse
to get there sometimes.
Mike (12:41):
Yeah. And you go to Rocky Mountain Chocolate Factory, get
a little nice little treat. Wego to Science City often because
we have young kids. But theChristmas feeling there, it's
just it's gorgeous. Uh-huh.
So making an evening out ofthis, really highlighting that
people are in need. You may notknow them, but dollar for
dollar, it all goes to a placewhere it's going to help someone
(13:03):
regardless
David (13:03):
Mhmm.
Mike (13:04):
Of religion, regardless of whatever category you wanna use
to divide people, get rid of it.It's going to help humans.
David (13:15):
Right.
Mike (13:16):
And then for our podcast listeners or those who are
traveling, I just pulled this uphere. Gosh. There's a map. The
Giving Machines, there's likeseven in Australia. I don't
think we have too many Australialisteners.
But they're all over The UnitedStates. This is pretty cool.
Looks like we've got some inDenver, some in Utah. There's
(13:36):
three in Boise, one in Portland,one in Eugene, Oregon, two in
Washington. There's one in SanFrancisco, Sacramento.
I mean, they're all over. Yeah.So if you're a podcast listener
and you're near a major city,chances are there's a giving
machine near you. Orlando, Igoogled giving machines, and it
(13:57):
was there. Yeah.
It's just incredible.
David (14:01):
It's a fun idea. Everybody benefits, both the
giver and the receiver. It'svery transparent.
Mike (14:08):
And it goes back to the original premise. Our mission
here at Kedric Wealth is to helppeople develop a healthier
relationship with money. What isthe purpose of your money? It's
not to become the richest personin the graveyard.
David (14:24):
Mhmm.
Mike (14:24):
Who cares?
David (14:25):
Yeah. At that point.
Mike (14:26):
Yeah. Yeah. Even the wealthiest person that dies,
someone's gonna be wealthier atsome point eventually. That's
called inflation. Yep.
Like
David (14:36):
Isn't Elon Musk set to become the first trillionaire if
everything goes right with hisnew contract, or
Mike (14:42):
do I think he already got that. I don't know. Yeah. It's
ridiculous.
David (14:46):
But anyway, it's just wild to hear, you know, trillion
associated with one
Mike (14:49):
person. And and just not to defend him or anything. Sure.
It's not like he's sitting on atrillion dollars of cash.
David (14:54):
No. No. No.
Mike (14:55):
Yeah. It's stock.
David (14:56):
And
Mike (14:57):
if he sold it all, it'd tank the company. Like, Jeff
Bezos isn't sitting on hisbillions of dollars in cash.
Yeah. He's got a lot of moneyfrom the dividends paid out from
Amazon or whatever, but theirassets are illiquid in some
sense. It's tied up in acompany.
David (15:12):
Mhmm.
Mike (15:12):
So it's I think some people misunderstand that
valuation process, Butregardless, they've got a few
extra bucks. Yeah. But so do we.Right. What's the purpose of
your money?
You know, there's been aninteresting theme the past
couple of weeks as we've beendoing retirement plans, where
I'll ask someone to say, well,what do you wanna do in
(15:32):
retirement? I don't know. Whatdo mean you don't know? Well,
I'm retiring because all myfriends are retiring. Are they
happy in retirement?
No. So why do you wanna do whatthey're doing, which is
miserable? Why would you retireand end up worse off from a
mental standpoint, from aphysical standpoint, from an
(15:54):
intellectual standpoint? Work isactually a good thing. And if
you think about it, can I nerdout a little bit?
David (16:02):
I mean, if we got the time, let's do it.
Mike (16:05):
So what's the purpose of your money is the premise. We
want a healthy relationship withmoney. Forget about money for a
second. What about your time?What's gonna give you purpose
with your time, your mostprecious asset, a limited
commodity?
You can't buy it back. What areyou gonna do with that? If you
think about it, well, let's saywork is 75% of your time, and
(16:27):
then the twenty five percent'sdivided up into your romantic
relationship, your familyrelationships, and your friends.
That's 25% or so. And work isthe rest of it.
What are you gonna replace yourwork with? A lot of people say,
well, I'm gonna busy myself withvarious things. Well, with what?
When are you gonna busy yourselfclean the house? How many times
(16:47):
can you clean your house?
Yeah. How many times can you cutthe lawn? How many times can you
go golfing or fishing? Mhmm. Andso when you start asking
questions, you can start to havea more holistic, healthy
conversation about your time andyour money.
For example, I don't wanna havean existential crisis
conversation here, but, you know
David (17:09):
Okay.
Mike (17:09):
What's the meaning of life? No. That's not gonna help
anyone right now. This is a apodcast show. We could debate
that for hours.
What's the meaning of life? Whyare we here? Where do we come
from? Where are we going? Right?
These are existentialconversations. Well, let's save
that for religion for a moment.And let's then take a
neuroscience perspective andreverse engineer the feeling of
(17:34):
purpose.
David (17:34):
Okay.
Mike (17:35):
The endorphins that make you feel like you have purpose.
There are three of them.Oxytocin, serotonin, and
dopamine.
David (17:45):
That's all in your body?
Mike (17:46):
Your body makes that? Your body produces these medications.
David (17:49):
Okay.
Mike (17:49):
And they feel great. So serotonin is something your body
produces. It's an endorphin whenyou're connecting with someone.
All humans are hardwired toconnect. So when you connect
with a family member, with aromantic relationship, with a
friend, it feels good.
When you're rejected, it hurts.Those are the other drugs,
(18:10):
norepinephrine, testosterone,cortisol. You don't want those.
You want the serotonin, the goodconnection. Well, how do you
build the connection if youleave work and you end up
sitting at home alone?
You don't develop it, so you'regonna feel a sense of sadness, a
sense of emptiness because thisendorphin that supported you,
that's given you the sense ofpurpose is gone. How about
(18:32):
dopamine? Dopamine is felt whenyou accomplish something. You've
won. You know, at work, youclose the deal.
You solve the problem. Youconnected two teammates that
were bickering, and now they'reokay again. There's a sense of
euphoria from dopamine.Oxytocin, another euphoric
(18:52):
feeling when you get theseexperiences in a healthy way. So
you either have to take the workside of things and develop other
activities of intellectualpursuits, of giving pursuits, of
and and the list goes on tostructure and design it so that
the activity itself gives you afeedback loop, gives you these
endorphins, you will then fill asense of purpose.
(19:16):
Mentoring's another one. How areyou gonna leave your legacy?
What if you spent five hours aweek, one day at some sort of
library school function tutoringprogram, or you just are
creating a mentorship programfor let's say you're an
engineer, and you're gonna trainup five engineers from college
to become whatever type ofengineer you were, and you're
(19:37):
leaving a legacy. What if youwere a researcher publishing
your research, leaving a legacy?Those are meaningful things.
Riding out your legacy for yourkids and grandkids and
generations to come, these aremeaningful activities,
especially when you get thefeedback loop that you share it
with them and they're loving it.Yeah. Too often we say, I'm
gonna retire because it's whateveryone else does, and they're
(20:00):
doing busy activities that haveno meaning because they don't
give you these drugs that yourbody produces. No one talks
about this way. I will even goas far as to say that financial
planners, financial advisershave done people a disservice by
saying you can afford to retire,so you should.
I believe just because you couldafford to retire does not mean
(20:21):
you should. You've got to lookat the other side of the coin.
Yeah. Does it make any sense?Any comments?
Any questions?
David (20:27):
Yeah. This I mean, this is something that is maybe not
widely publicized. There'sprobably other people talking
about it, but yeah. What what doyou do with all this newfound
time? You know, I've heard somepeople say, and I won't mention
them by name, like, my spouse isgonna drive me nuts now that
he's home.
I need to be I need to be awayfrom him.
Mike (20:45):
Here's a story from doctor Himmler's book. It was a general
that retired, and his wife ranthe house. So they're both kinda
generals. One was a general inthe army. The other was a
general of the family.
They both spent very little timetogether as the kids were
raised. They were both very,very busy. He retired. He came
home, and there was a lot oftension there, if you will,
(21:08):
because he wanted to run thehouse. She was already running
the house.
Lot of contention. But theirplan was, well, they're gonna
get on a nice road trip, rentthe RV, and go out and see the
sites. By the time they made itto Texas, because they were, you
know, they started in the Southand made their way to Texas,
They already had divorceattorneys on the line. Yeah.
(21:30):
They were set up to fail.
Right. And it was because ourhistory, our experiences shape
our habits. Our habits, abehavioral pattern shape our
habitat, and sometimes you'vegot two alphas in a habitat that
don't wanna exist in the samehabitat. That's a problem. Yep.
(21:51):
These are things that are nottalked about enough that need to
be addressed. So going back tothis idea, well, you're supposed
to retire so you can busyyourself with randomness. That's
not necessarily a good thing,and I wanna give everyone
listening permission to keepworking. If you wanna keep
working, keep working. Yeah.
If you're laid off because ofageism, which is a very real
(22:13):
thing, who cares? Get anotherjob. Yeah. That's okay. People
will see the wisdom in what youdo, and hopefully will welcome
you to the fold and keepworking.
David (22:24):
It might be kind of freeing too to be working on
your own terms. Like, hey, Idon't need to be doing this, but
I'm doing it because I want to.Maybe that's different.
Mike (22:31):
That's the cool part. So now let's let's rope this back
into gifting for a second. I'vehad several conversations where
the person wants to keep workingbecause they love it so much.
Mhmm. And they say, well, shouldI work for free?
I say, why would you ever workfor free? Because I don't need
the money. I would tell them,no. You don't work for free
because I mean, if you'reworking with a charity, that's
(22:52):
different.
David (22:52):
Mhmm.
Mike (22:53):
But if you are a professional, you don't work for
free, because if you work forfree, you'll be taken advantage
of, and it creates this rift,this kind of a wedge in the
relationship. And then they askyou for stuff, you don't wanna
do it, and the relationship'sruined. Sure. You should be
compensated for the work thatyou provide. That's how it
works.
But now you have more money. Andas you continue to work and you
(23:16):
have more money, you have moreopportunities to gift. Now you
gotta be smart about this from atax standpoint. You don't want
to necessarily save more in yourIRA because if it's in your IRA
and you're alive, you can'teasily gift to people. You've
gotta pay the income tax.
Why are you paying income tax onit? Like, that that's an issue.
Mhmm. Now if you're 73 years oldor you're qualifying for RMDs,
(23:39):
required minimum distributions,you could donate up to a 108,000
or so. Check the tax year totwenty twenty five, twenty
twenty six.
Uh-huh. But around $708,000 orso of your RMD to a charity, not
pay taxes on it, the charitygets all of it.
David (23:53):
And that can come out of your traditional IRA? Mhmm.
Mike (23:55):
Wow. That's like the only way you can really gift from an
IRA. Now if you did pay theincome tax, you put it into
stocks, ETFs, whatever, thenmaybe you're just waiting for
the right charity, the righttime, the right gift, and maybe
you're gifting to your kidsbecause you wanna help them
while you are alive, not dead.Mhmm. Help them get into the
(24:17):
house, Help them pay off theirstudent loans, whatever it is.
Maybe that's your version of thegift. And the annual gift tax
exclusion, 19,000 per recipientper person or 38,000 if you're a
couple. Okay. No reportingneeded. That's kind of nice.
Yeah. But if you wanna giftmore, you can. You just have to
report it. I think it's formseven zero nine of the tax code.
(24:37):
You're just gifting part of yourestate exemption.
David (24:42):
Yeah. A lot of big words there.
Mike (24:43):
That's why you work with a tax professional, but you can
gift more now. And it's cool ifyou sell the security. Right?
You might pay some capitalgains, but you can help right
now. Or you can just put assetsinto a growth portfolio, and
then you gift it without sellingit to a charity.
They don't pay capital gainstax. They're a five zero one c
three.
David (25:04):
Yeah.
Mike (25:05):
So what if your purpose is to continue to work, continue to
create wealth, so that you'reable to gift it when you want.
Very nice. That almost givesyour work, which you already
have purpose and already lovedoing, an extra bonus.
David (25:21):
The cherry on top.
Mike (25:23):
I mean, why wouldn't people wanna do this? Yeah. And
it's okay if you don't. I mean,if you wanna go golfing, let's
talk about that real quick. Idon't wanna bash people that
enjoy golfing.
Yeah. Golfing can be a veryproductive thing or fishing or
any hobby, sewing, quilting,running, exercise. It could be
traveling. Anything could be aproductive exercise, a
(25:44):
productive activity. Thedifference is are you wasting
time or are you growing?
Happiness is rooted in growth.So if you're a golfer and you go
out to the golf course with yourbuddies just to get drunk and
waste four hours, it's probablynot good for you. If you go out
(26:05):
to the golf course because thisnext time you just learn this
new way that you can a newtechnique that should take off
one stroke of your game andyou're really excited about it,
and it does take off one strokeof your game. Oh my gosh. And
you do that with your friends.
You're getting serotonin. You'reconnecting with friends. You're
getting dopamine because you'veaccomplished something. You're
so excited. And then you've gotthe oxytocin that also is in
(26:27):
there just for the euphoricactivity of the success that
you've experienced.
That's a really cool situation.Yeah. So then golf can become
productive because you'reanxiously engaged in growth, in
development. When people say, Idon't need to learn anymore, and
they sit in front of the TV,you're basically just asking
yourself to speed up your dateof death. If you're busying
(26:50):
yourself with cleaning the houseevery single day and mowing the
lawn for the sake of mowing thelawn, and and you're just doing
it for the sake of doing it, orbecause you wanna keep up with
the neighbors, oh my gosh.
I mean, what have we done? Oh,you could afford to retire so
you should? Ugh. I don't know.
David (27:09):
I just We gotta find some purpose is what you're saying.
Mike (27:12):
And it's not the existential crisis. I mean, I
love religion. I go to churchevery Sunday. I think religion
is one of the best things that ahuman can have in their life.
But we don't need to have theexistential crisis for the
atheists out there, for maybepeople who aren't Christian.
Whatever it is, you can stillfind purpose, not in the
existential sense, but in howyou're connecting with others,
(27:35):
how you're challenging yourself,your intellectual pursuits, your
physical activities. I mean, itfeels really good. You play
tennis. Right?
David (27:44):
Yeah. I have. I've been known to. You've dabbled or
Mike (27:47):
you mountain bike as well. I do that also. Yeah. Actually,
hold on. You had a recent story.
How'd it feel when you kept upwith the mountain bikers?
Because you were lagging alittle bit. You got a little
lax.
David (27:57):
I ride with people much faster than me, and so I'm
always chasing.
Mike (28:02):
But there was one time you kept up with them. How'd that
feel?
David (28:05):
Yeah. That felt really good. I mean, I was able to keep
up with him. I don't know if Ishould divulge what substances I
used, but it was all legal.
Mike (28:13):
You had some ketones. Yes. I did. That's not a weird let's
not suggest it was anythingweird.
David (28:20):
There's nothing nefarious. Yes. Some ketones
mixed with some caffeine.
Mike (28:22):
But anyway You've never had ketones before. And for
those who don't know whatketones are, ketones, it's just
something that professionals orenthusiasts use as a caffeine
substitute to help yourendurance exercise. Yeah.
Consult your medicalprofessional or a dietitian or
just read the label. It's it's ahealthy thing.
David (28:44):
But I used that, and I kept up. And years I've never
kept up. And then I did thistime, and it felt really good.
Mike (28:52):
Yeah. What experience. Yeah. Was. I loved it.
So anyway, when it comes topurpose of life, charitable
gifting, helping others, we'renot here competing against
people. We're here on our ownjourney to grow, to develop
ourselves, and then ourabundance may be part of it can
(29:12):
be used to help other people.
David (29:14):
Yeah. Isn't that great?
Mike (29:15):
That's the moral of the story. If we had anything today,
I think that would be today'sconclusion on at least the
charitable gifting. Hey,everyone. Mike here, financial
adviser, insurance agent, taxprofessional, and founder of
Kedric. Did you know that twothirds of baby boomers say that
they are not on track to haveenough saved for retirement?
And to make matters worse, wecould be headed into a flat
(29:36):
market cycle, which could makeit more difficult to grow your
assets, and so on. Look, thesedays, it's easy to feel
overwhelmed by inflation, marketrisk, the job market, the
economy as a whole, and so muchmore. There's so much fear out
there. That's why having a clearplan is more important than
ever. Now at Kedric, wespecialize in helping people
(29:57):
prepare for retirement so thatwhen the time is right, they can
retire on time with confidenceand clarity.
The reality is that preparingfor retirement is more
complicated than putting moneyinto the market and hoping that
it grows. As you approachretirement, you've got to
consider how you're saving thefuture tax implications of those
decisions. You've got to accountfor the risks that you're taking
(30:18):
now as you approach retirementand even after retirement. This
list just goes on and on and on.Putting together a comprehensive
plan now, even if retirement isten years away, can help you
better prepare for a moredeliberate and efficient
retirement plan so that when youdo retire, you can potentially
get more out of your hard earnedmoney.
Schedule Your Wealth Analysistoday by calling (913) 363-1234
(30:41):
and explore what your lifestyleand legacy could look like.
(913) 363-1234 or go towww.yourwealthanalysis.com.
You're listening to how toretire on time. Now let's talk
about tax strategies.
David (30:56):
Okay.
Mike (30:57):
So a lot of people say, I wanna minimize my taxes. You
can't gift your way to wealth.You can't deduct your way to
wealth. So let's just have somefun for the rest of the show
talking about tax strategies.
David (31:07):
Okay.
Mike (31:08):
In my opinion, investment management is a wonderful thing,
and we're very proud of ourperformance. We're very proud of
how we manage our money. But itis a drop in the bucket compared
to the amount of work that taxplanning can have on someone's
life, on the benefits of theirtheir life. So when you're
(31:30):
looking at a ten forty, whenyou're looking at tax planning,
if you wanna get more out ofyour money, it's the secrets, I
think, are really in the tenforty. Ten forty, that's when
you file your taxes, you havethe ten forty.
That's kind of a review of ofyour return.
David (31:45):
Mhmm.
Mike (31:45):
Understanding the differences of how you structure
your portfolio and where themoney is going to go is huge.
Whether it's for giftingpurposes, whether it's for your
spending, whether it's for youhelping your kids, whatever it
might be. Huge differencesbetween ordinary income versus
qualified or ordinary dividendsversus qualified dividends.
People don't know thedifference. Yeah.
One's taxed at ordinary income,one's taxed at long term capital
(32:08):
gains. And it's how you investin your dividend portfolio, how
you structure the portfoliothat's gonna determine the
difference.
David (32:15):
Yeah. You were showing me this earlier today here in the
office, and my eyes got big. Thedifference between the numbers.
Thousands of dollars every yearin less taxes. Yeah.
Because of qualified versusnonqualified dividends.
Mike (32:27):
Yeah. And we just assume, oh, that's the easy button, so
let me just do that. There'sunintended consequences to it.
Especially if you're reinvestingthe dividends that you're paying
taxes on over and over, youcreate a larger issue with your
income. Or understanding this isan interesting one.
If your income and your SocialSecurity is at a certain level,
maybe you've maxed out a certainthreshold, and then you go $1
(32:51):
over. Maybe it was interest fromyour high yield savings that you
put in there. $1 over, there'san extra $23,000 in your taxes.
Yeah. So understanding how youend a year and then how you
start the next year and how youdo your planning in 2026, these
things matter.
Yes. It's good to grow yourmoney. Yes. It's good to invest.
(33:13):
It's good to have a strategy,and we're very proud of that.
But unless you incorporate thetax planning side of things, I
think it's difficult to reallydo it well. Just some thoughts.
Yeah. I kinda wanna wrap this upfull circle. Common questions
that I get, and please add someof the questions that you get
(33:34):
when it comes to what's thepurpose of your money is a great
question.
Mhmm. Is it for charitablegifting? Is it for legacy to the
kids? Is it for maximum income?Notice how it's all about the
result.
Depending on that result isgoing to influence then where
you put the money. It's gonnainfluence your income
(33:54):
strategies. It's gonna influenceyour tax, high rate Roth
conversions, for example,strategies, because where the
money is going, it makes a hugedifference. Mhmm.
David (34:03):
So let's say someone wants to just spend most of
their money as opposed togiving, like, either to their
their
Mike (34:12):
Wealthy, not wealthy.
David (34:12):
Yeah.
Mike (34:13):
Which category? So where would
David (34:15):
they if they're looking to just spend it, like, where
should it be versus if they wantto, give?
Mike (34:21):
If they wanna give, they need to have flexibility. If
they want lifetime income, thenyou gotta have a couple of
strategies based on if themarket up or is the market down.
If the market's down, you gottahave the ability to take income
from a protected source so youdon't accentuate losses. Now
those who have less might buy anannuity, have guaranteed
lifetime income, because youdon't wanna trip up in a market
crash or a flat market cyclewhere the stock market makes no
(34:44):
returns for ten years. Like,there are certain precautions if
you have less money.
If you have more money, you'vegot more flexibility. So if
you've got more flexibility,then you can do a more
deliberately designed portfoliofor tax efficiency and
flexibility.
David (34:57):
Okay. Yes.
Mike (34:58):
And so you're looking at things like and this is a common
misconception. Let's have somefun with this.
David (35:05):
Okay.
Mike (35:06):
People want the highest average annual return. Yeah.
That's not what people should belooking for.
David (35:13):
Right.
Mike (35:13):
You can have a lower average annual return and grow
your money faster than a higheraverage annual return and grow
your money slower.
David (35:23):
Yeah. That would seem counterintuitive.
Mike (35:24):
Mhmm. Retirement is won by strategies, not by products. The
$60.40 portfolio is a product,not a strategy, because you buy
it, you hold it, and mayberebalance once in a while, and
then when the markets crash,whatever. What if you have some
assets long term in the market,you've got some assets that are
(35:46):
protected, and you you're readyfor a market crash. Take income
from a protected source.
Your other accounts are down.You're doing more IRA to Roth
conversions, because if, let'ssay, the stock's a $100, it's
now down at $50 a share. You canget twice the amount over from
IRA to Roth. You pay taxes outof another account.
David (36:05):
Mhmm.
Mike (36:06):
So you're not accentuating losses. You just two x'd your
IRA to Roth conversions and paythe same amount of taxes. Those
are cool things. If you havecharitable gifting when the
markets are down, think justthink about this way, the long
term perspective. If markets godown, you've got some assets
that are protected that you canpull out of and buy at a dip.
(36:27):
If you're buying things on sale,then whenever it recovers,
you've exaggerated your growth.It's leapt forward, assuming
that whatever you put money intogrew. Now you got more money to
give. It's not about set it andforget it. It's not about the
product that you need to buy.
It's not about buying an annuityhere or buying these ETFs over
(36:49):
there, and that's good enough.The oversimplification is what
prevents people from gettingmore out of their money through
strategy, through understandinghow to change based on the
dynamics and the evolution ofthe market of your portfolio and
so on. And it pains me, and thereason why it pains me is
because I know people couldprobably pay less in taxes. I
(37:12):
know people could probably payless in taxes when it comes to
income or IRA Roth conversions.They could be growing their
wealth probably a little bitbetter, more strategically.
When there's more that could bedone, why wouldn't you? Mhmm.
And the answer is because youjust didn't know. I mean, do you
remember the first time when youcame to work here at Kedrick
(37:32):
Wealth, What it was like tofirehouse? Because Yeah.
You worked in the industrybefore.
David (37:38):
Yes. I had You left. Many moons ago. Yeah. And then you
came back.
Yeah. So there was a little bitof a baseline knowledge, but it
was a while ago. And, there's alot to this industry, and
there's a lot of things I hadnever thought about in my life
until you started talking abouta lot of it. And it's been eye
opening for me. I've had to askmyself some questions.
(38:02):
A lot of questions. Like, whatam I gonna do about this or
that, or how am I gonna plan forthis? I hadn't even started to
plan.
Mike (38:09):
Yeah. And kind of wrapping up, I would say this section of
today's show, there's a certainsequence that must be followed
if you are to shape yourretirement or potentially not
retirement. Maybe yourretirement is really you
continue to work. Whatever yourencore is in life, You've
crossed the threshold offinancial independence. You
(38:31):
don't need to work.
You might continue to work.Maybe you don't. The first
question that must be asked thatcatches a lot of people off
guard is, what do you want to dowith your life? What's your
lifestyle goal? What's yourlegacy goal?
How do you wanna spend yourtime? Will it give you purpose,
or are you just busying yourselffor the sake of just wasting
(38:53):
time? What does that look like?Until you can articulate that,
I'm not sure you could reallyput together a good financial
plan. Once you have that figuredout, then you can put together a
plan.
Now planned really is just anoverview of cash flow, of just
the money flows and so on sothat you understand, could you
(39:13):
afford to retire? And if youcould, is there excess? Are
there limits? Are you kind ofcutting it close? Do you wanna
work part time?
Do you not wanna work part time?You you put all of the
projections together, then youexplore strategy. Notice we
haven't talked about investmentsor products yet.
David (39:29):
Yeah. We haven't I haven't heard sixty forty split.
I haven't heard annuity. It'stoo soon. Heard none of that.
Mike (39:35):
So when you have your plan put together, you know what the
purpose of your money is. Is itgoing to charities? How much is
going to charities? Is it goingto income, or do you want
maximum income? There's nothingwrong with having maximum income
in retirement.
If you wanna have the mostincome, great. Yeah. It's your
money. Do what you want with itas long as it's legal. Yeah.
And then you've got thestrategies, which is how do you
(39:57):
accomplish your financial goalsmore efficiently? This is where
you break down the, hey. I wannabe charitable next year. Great.
Here's how we're gonna take yourincome and accomplish your
charitable goals next yearspecifically so that it's more
tax efficient.
And then the year after might bea totally different income
strategy. Having thatflexibility, the ability to
(40:18):
dynamically adjust based on whatyou want your money to do for
you is essential, in my opinion.
David (40:24):
Mhmm.
Mike (40:25):
And then once you've figured all of that out, you can
then start talking aboutinvestments and products you may
want.
David (40:33):
Yeah. And not everybody does it in that order.
Mike (40:35):
No. Usually, it's, alright. Here's the portfolio.
Here's the strategy. We're gonnagrow your money.
Here's how much you can take asincome. Here's an annuity.
Here's what the lifetime incomeis. Can you live off that?
Great.
Here you go. Sign up today.Yeah. Here's a privately traded
REIT. It's gonna pay this muchcash flow.
Does that work for you? Great.Here's private credit. It pays
this much right now. It's almostlike ignore the fact that when
(40:57):
markets shift, this could bedisrupted.
David (40:59):
And markets will shift. We do know that. Right?
Mike (41:02):
Oh, yeah.
David (41:02):
That happens. It can't be predicted.
Mike (41:05):
It works until it doesn't. Simple truth.
David (41:09):
Mhmm.
Mike (41:10):
So that's how it has to be done. And for everyone podcasts
or otherwise listening, there'sstill time in the year to put
together at least a plan so thatyou're able to make good year
end planning decisions whetheryou do IRA or Roth conversions,
or maybe you don't do IRA orRoth conversions. Maybe you've
got a little bit of room forcharitable gifting. There are so
(41:32):
many questions that need to beasked. If you wanna discover
what that is, go toretireontime.com.
Click that button that saysdiscover what's possible. That
simple. Retireontime.com. Visitthere tonight, tomorrow,
whenever is a good time for you.Retireontime.com.
Click the button. Schedule athirty minute call with me, and
let's talk about your lifestyleand legacy goals. Let's talk
(41:54):
about charitable intent. Let'stalk about what you want your
money to do for you, yourlifestyle and legacy goals. And
then eventually, we'll get tothe appropriate investments and
products for you.
David (42:05):
Yeah. I was just gonna say, during that thirty minute
call, are you gonna mention anyproduct names or any
Mike (42:10):
No. I mean, you might have a question, but not it's too
soon. Yeah. I mean, would youfeel comfortable talking to a
doctor who says, alright. Sohere's the drug.
I think you're gonna want it.Now what what's hurting again?
David (42:21):
Alright.
Mike (42:22):
No doctor's gonna do that.
David (42:23):
No. No. They need to first diagnose, and then they
can put together a plan withsome kind of prognosis. Right?
Mike (42:30):
Yeah. I mean, hey. I'm hurting. Where does it hurt? Has
anything happened recently inyour life?
Has this been a reoccurringissue? Yeah. Let's run some
tests. Like, they wanna figureout the problem before they
solve it. In finance, we gottafigure out the problems.
There's no such thing as aperfect investment product or
strategy. There's no such thingas a riskless retirement.
(42:50):
There's always risks. The trickis you gotta find the risks. You
gotta learn about the risks.
You gotta understand the risks,and then decide which ones are
you okay living with and whichones you're not. And what's
interesting is when I tellpeople that, some people will
say, I don't want that. I don'twant to acknowledge there are
risks, and they go to asalesperson that says, nope.
(43:12):
We're good to go. Guaranteedincome for life or whatever it
is.
You're all set. You don't needto worry about it. Well, that's
deceptive. You want the truth,or do you wanna be told what you
wanna hear? I'd rather tellsomeone the truth.
Yeah. Just my opinion. W w wretire on time dot com. Click
(43:32):
that button. Discover what'spossible.
David, let's wrap up today'sshow. Our charitable special
focusing on charities. Go to TheGiving Machine wherever it's
near you. If you're here inKansas City, you might even see
me there. My son and dad, wemight go a couple of times a
year just because it's so fun.
David (43:48):
There are goats that need to be purchased.
Mike (43:50):
We buy goats every year and a few other things as well.
It's a real treat to know thatdollar for dollar, this is going
to someone.
David (43:58):
Yeah. I mean, it ranges from $5 all the way up to looks
like $250.
Mike (44:02):
What's the $2.50?
David (44:03):
That is rent assistance. There are people that need that
out here, you know. It's rentsare going up. People might lose
their job. They might be in atemporary situation where they
just can't make it, so it's inthe upper right hand corner on
our card here.
Oh, yeah. Rental assistance,$2.50. Utility assistance, $95.
Family meal kit, 25. I mean,
Mike (44:23):
you could buy cheese for someone.
David (44:24):
Yeah.
Mike (44:25):
A family meal kit, $25.
David (44:28):
Winter gear. I mean, gosh. Yeah. Reliable
transportation, you chip in like$70.
Mike (44:35):
Can you imagine a kid without a coat in the winters
here? Ugh. I mean, it just thefact that it's on here means
that there are kids withoutcoats.
David (44:46):
Yeah. Right? I'm gonna that.
Mike (44:49):
I'm gonna buy that one, at least one of those. Yes. And
it's nice that it's going to theright place. Yep. It's going to
someone that's in need.
David (44:56):
Someone in need that's local Yeah. These are fully
vetted partners here.
Mike (45:01):
It just it upsets me that there's still this much
suffering in the world. Alright.That's not some, like, virtue
signaling crap. That's not whatI'm trying to do here. It's just
that there are real strugglesand people trying their best,
and they just need a littlehelp.
It's a great time to do that.
David (45:20):
Yeah. This makes it easy.
Mike (45:22):
I I'll tell you two stories here. So growing up, we
had a family tradition that andit was usually on Christmas
morning before we opened ourgifts, we would make lunches,
peanut butter jelly sandwiches,or because some people have
peanut allergies, ham and cheesesandwiches as well. We'd get,
like, a 100 different lunches.We'd all put them together. And
(45:45):
then we'd go down I grew up inSeattle, so we'd go Downtown
Seattle.
There's a homeless issue there.Mhmm. And I didn't wanna say
homeless issue. There are peoplethat are struggling that just
are down on their luck. They arehomeless, and they're just
trying to get back on theirfeet.
And then there's the addictissue. People that are just they
(46:05):
are slaves to a drug, and theidea that they can just get out
of this addiction is ridiculous.I don't think most people
understand how difficult it isto fight an addiction. I'm lucky
enough. I have not had to dealwith addictions.
But if you really understandaddiction and addiction
recovery, I mean, these people,it's basically like you're in a
(46:27):
canoe throwing marbles at abattleship expecting expecting
that that you're you're gonnagonna take take it it down.
Down. It is difficult. It isincredibly difficult. And so the
fact that they're there andthey're in these positions,
that's really tough.
And so we would do what we can,and we would feed the homeless.
Right? Or those that weresuffering from addiction. Yeah.
And if you think that I'm beinga little bit verbose here.
(46:47):
But if you think, oh, well,they're just they made dumb
decisions, and they picked thisaddiction, and it was their
fault. You don't understandaddictions. Life is hard.
There's a kink in your armor,and sometimes your kink just
happened to be associated withthat addiction. Addictions
choose you.
Some people just don't have todeal with that.
David (47:05):
Right.
Mike (47:06):
So be kind to those that are suffering from addiction.
Anyway, so we would go to thesepeople. Sorry. And when you look
them in the eye and you'rehelping them, it's so it's so
(47:28):
interesting because you don'tknow what to do. You don't know
how to help them, and you reallycan't save them from it.
It's their journey. But if youcan at least help them in that
moment, what a beautiful thingthat is. Yeah. I mean, I'll tell
you what, if I could walk upsomeone and just heal them from
their addiction or whatever itis, I'd do it all day long.
Yeah.
I don't have the power to dothat. It's going to be their
(47:49):
journey, and there are thingsthat can help them along that
journey, but it's still gonna betheir decisions. But just to
alleviate another human withthat, it was a very it was an
impactful part of my childhood.
David (48:07):
Whose idea was it to start this tradition?
Mike (48:09):
My dad. And we did not wanna do it at the beginning. We
really didn't. It'suncomfortable. You know, it's
Christmas morning.
We wanna do other things, butthat's the morning when
everyone's at home, and so theywere more in need of of just
some help. Yeah. So, yeah. Kidsare selfish. We didn't wanna do
it.
(48:29):
We were forced to do it. Mhmm.But it really shaped a big part
of my childhood.
David (48:37):
Yeah. Clearly.
Mike (48:41):
So when you're looking at the giving machine, it's like
that. And maybe you go down toDowntown Kansas City, or you go
down to wherever you arelistening to show, and you help
with a soup kitchen or any otherplace and help people, it
changes you for the better. Itreally does. Because it's not
about status. It's not aboutwealth.
It's about two humansconnecting. The second story I
(49:04):
wanted to share is the inverseof it. So I'm just some stupid
college kid on a break, and Idecided I was gonna do fake
being homeless for a day. Mhmm.I wanted to understand the other
side.
I've helped the homeless. I'vefed the homeless. Like, I've
done this. I wanna see what itwas like if someone perceived me
as homeless. Mhmm.
(49:26):
And I went to the thrift store.I got some crappy clothes that
didn't really fit me very well.I rolled around the dirt, and I
went down. I was, again, livingin Seattle at the time, so I
grew up. And I I just walkedaround with a sign that said,
don't need food, don't needanything, just want a friend.
And I just sat down the side ofa road with that sign. Sorry. I
(49:48):
haven't thought about this in awhile. What was so interesting
was everyone that walked by knewI was there.
David (49:58):
Mhmm.
Mike (49:58):
I knew they knew my presence, and no one was making
fun of me or belittling me.There was no negative sentiment
towards my current situation,which for all they knew, I was
just in a tough spot. But it wasvery apparent because they
didn't know how to help. Theyjust walked by. Mhmm.
(50:23):
Humans are good. I know there'sa lot of crap out there. There's
a lot of reasons to be angry.The news floods you with all
sorts of reasons to hate halfthe country or to hate certain
people. If you'll really look atunderstanding what media is, the
more angry they can get you, themore likely you're gonna keep
tuning in.
And it's really done adisservice. But when you get two
(50:47):
people together, regardless ofbackground, regardless of
beliefs, regardless of anything,and you just look at them and
and you think just imagine themsmiling. Just imagine them
laughing, telling a joke. Humanswant to be good. Humans are
inherently good.
It's just sometimes we don'tknow how to connect with
someone. It's sometimes we don'tknow how to help someone. Dave,
(51:09):
what's your take on this as Itry to get my composure
together? Yeah. You've beenthrust into service positions
and had
David (51:17):
to help people. Yeah. Helping people is I think it's
one of those things we just allof us, once you start doing it,
it just feels good. It's almostlike the difference between
eating a good healthy meal andhow you feel afterwards versus
just a bunch of junk. My kidsare telling me all the time, oh,
why does my stomach hurt?
Oh, well, it's because you hadthat candy, then you had that
(51:39):
sugar filled thing, then you hadthat sugar filled thing. That's
why. That's why you feel badright now. And so when you are
giving and you see the impactthat you've helped someone, it
instantly feels good, and thenyou wanna keep doing it more.
Yeah.
It's
Mike (51:57):
I mean, I'm a Christian, so I'm just gonna say it's the
most Christian thing you can dois to help lift someone else's
burden. Absolutely. So a coupleof highlights to wrap up the
show today. Our annual moreemotional show, I almost got
through without tearing up, andit happens, whatever. But if you
don't know how to help people,look up the closest giving
(52:19):
machine to you.
A 100% of whatever you put inthere goes to the cause.
David (52:25):
Yes.
Mike (52:25):
That's rare for a charity to do something like that. Yeah.
And it's coordinated with thedifferent charities. It's a
conglomerate kind of efforthere, which is really, really
cool. If you want a moreinteractive experience, one of
my favorite, at least here inthe Kansas City area, is called
the Flourish Furniture Bank.
I wanna give them a shout out.Yeah. There are people that were
(52:46):
down on their luck. Many womenwere abused and had to leave
tough situations. It's them andtheir kids, and they're getting
their apartment or their newhouse or whatever their living
situation is, but they can'tafford furniture.
Do know about this place?
David (53:01):
Yeah. So they were a part of the they were part
Mike (53:03):
of the getting machines last year. People go there, and
they get beds and couches andplates and everything they need
Yeah. Just Yeah. Start
David (53:14):
Yeah. What a great thing. It's needed, and there's someone
out there's a resource therethat coordinates it.
Mike (53:19):
You can just flourish furniture bank, Google it. Yeah.
You could donate your time. Youcan help families. I've gone
there, and I've helped take oldblankets and stuff, and I've set
it up to where we're creatingrags and stuff.
I mean, it's it's such a coolthing. And if you have kids or
grandkids and you take them tothis, you're helping them become
a better human. Yeah. There'sanother site, Just Serve. Is it
(53:40):
justserve.org?
Yep. It is. Just explain what
David (53:43):
that is. Justserve.org, not only is it a web page, but
it's also an app you candownload, and it is a listing of
all of the charitable needs. Soif you have some time that you
wanna volunteer, you can go onthere and then just scroll
almost endlessly through all theneeds. So it's sort of like an
aggregator for service.
Mike (54:02):
Of charities, of nonprofits Mhmm. Of service
opportunities.
David (54:06):
Opportunities. Yes. And so on. If you're whether you're
an individual, a family, or abig group of people, like, we're
looking for something to do, yougo there.
Mike (54:14):
We are so blessed as a society. There are many people
though that aren't as fortunate.Mhmm. If you go out of the
country and you see how most ofthe world lives, it's a very
sobering realization. Yeah.
So we want to implore everyone,if you have extra, find either
time or money, consider donatingwherever is right for you,
(54:37):
whatever you can get behind.It's not about being the richest
person in the graveyard. I mean,heck, if we could help you do
some tax efficiency, free up afew thousand dollars, donate it.
Yeah. Gift it.
That's a great reason for it.Yeah. Agreed. But it's, this is
what it's really about. It'sconnecting, it's helping.
(55:00):
This is what wealth is. It's aquality of life. It's not about
more money, but more moneyhelps. But more money helps make
those decisions, allow us to dothese great things. Anyway, I'm
I'm being a bit I'm dragging onhere, but justserve.org, great
resource.
Giving machines, you can lookthem up, find one near you.
Kansas City Union Station, I'llbe there several times. So if
(55:23):
you recognize me from theYouTube channels, say hi. Yeah.
We'd love to chat with you, butdo try and go there.
Make an experience this holidayseason. Make this season a gift
focused season. We are going to,in my opinion, experience more
unemployment, some hiringissues, maybe more layoffs are
coming on their way, we justhaven't heard about them yet.
(55:45):
People are in need. You've gotresources.
You can do it. Thank you all somuch for listening to the show.
This is How to Retire On Time,our annual charity focused show.
Means a lot that you listen toit. We'll see you in the next
episode.
Welcome to How to Retire On Time, a show that answers
your retirement Say goodbye tothe oversimplified advice you've
heard hundreds of times. Thatsaid, we've got a special show
lined up for today. This is notnecessarily about retirement
planning. This is aboutcharitable gifting. It's the end
of the season, and we areexcited to really highlight that
for the next hour or so.
(00:30):
Joining me, I'm Mike Decker withKedric Wealth. David Franson
here, and we've got a specialguest to kick off the show. The
one, the only, the head coach ofthe head coach of the Kansas
City Chiefs, Tammy Reed. Tammy,thanks for joining us today.
Tammy (00:43):
You're welcome. It's good to be on.
Mike (00:45):
It's good to have you here calling in. I know you're very
busy, so thanks for doing theshow and really highlighting the
importance of charity. Butbefore we dive into that, I'm
just kinda curious. You've gotso much going on. You've got so
many fun stories.
Does your family have, like, afun holiday tradition,
Thanksgiving, Christmas, kind ofthis time of the year?
Tammy (01:03):
Well, yes. We have all the traditional things. If and
when we get to do them on theholidays, we still do them
because we're playing onThanksgiving this year in
Dallas. We won't get to haveThanksgiving till the day after.
And we're playing here onChristmas, so we won't get to
have Christmas till the dayafter, but we still do the
(01:24):
traditional things at Christmasand Thanksgiving.
But we also have some charitablethings we do. Since our kids
were little, we've alwaysadopted a family from whatever
organization that we're workingwith at the time. I was on the
board of Laurel House, a shelterfor domestic violence back in
the Philadelphia area, so weadopted a family or two every
(01:44):
year for that and would the kidsloved going to the store,
picking out the gifts for theage of the child or whatever. It
was it was a blast. We wouldhave carts filled because a lot
of times they're like, one tofive gifts?
And we're like, oh, we'regetting five. I'm just you know,
we're so blessed that we like togive back. And then now that
we're in Kansas City, we also dothe our chiefs women's
(02:07):
organization does operationbreakthrough, and we also adopt
a family for that. And it couldhave anywhere from two to seven
kids. And now my kids aren'tinvolved with it.
Just me and
Mike (02:18):
Can anyone do this kind of a thing? I mean, is it easy just
to get connected with thefamily? Or
Tammy (02:23):
You know what? The Chiefs Women's Organization does it
just through operationbreakthrough, but I bet if you
called operation breakthrough, Ibet there's a lot of places,
homeless shelters. I bet thereare domestic violence shelters
that if you just call one ofthose, I bet they have a need
for something like that if yourfamily wants to get involved.
Mike (02:46):
Yeah. And you can reach out to us here at Kedric Wealth
or just the bottom of thepodcast if you're listening to
it this way. We're going toinclude just different ideas on
how to serve and give back. Theunfortunate reality is here in
Kansas City, unemployment is alittle bit higher than the
national average. That's tough,especially as we're getting into
the holiday season, when youwanna give, when you wanna be
with your family, and things aretight.
(03:08):
For those of us who are blessed,if we can do that, there are so
many ways we could do that. Wecould gift or, you know, pay it
forward or or whatever you wannacall it. Tell me, is there any
easy way that you can just kindof gift? Let let's say you have
a little extra. You've budgetedout a little bit.
You're trying to do good in theworld, but maybe you don't know
someone that's really in need,or maybe you just don't know how
(03:31):
to give it to them in the rightway. I mean, what's what's an
easy way that people are able togive?
Tammy (03:36):
Well, we just so happen to have the giving machines
going in at Union Station thisyear, and they will be there all
the way till January 1. I thinkthey're taking them away January
1, but that's an amazing way togive back. And the fun part of
the giving machines is it's likea vending machine where you can
(03:56):
put your card in and pick anitem to donate to. There's,
like, eight charities in thegiving machine vending machine.
And you can pick, like, lastyear we had goats.
We had, donate socks toveterans, beds for different
organizations, baby beds, toys.The fun thing about that one is
(04:18):
that we take our grandkids downthere, and they have the best
time. And we have probably ahigher limit than most people
because we've been so blessedthat we'll have a higher limit
of money that we would like todonate to this machine. Mhmm.
And so our grandkids all get topick one to five items that they
will donate to someone.
(04:38):
And the fun part is once youpick the items, it just the
cards just start dropping downinto the bottom of the machine,
and you can see, oh, I'm givinga goat to somebody. Oh, I'm
giving a dresser to somebody.I'm giving whatever the items
are in the machine. And that's afun thing to do with your
family, but also you get to goto Union Station where they are,
(05:00):
and there's so many activitiesthere as well. So it's kinda
like a win win.
You get to do a fun family eventday or night and visit some of
the things at Union Station, butalso give back to our community.
The six of them are right herein our community in Kansas City
and the greater Kansas Cityarea, and then two of them are
international organizations.
Mike (05:22):
And so you just you put your credit card in there. You
pick out the gift, and then Yes.This is supported by the Church
of Jesus Christ of Latter daySaints.
Tammy (05:30):
So It is.
Mike (05:31):
I don't know how the story came about, but the idea is how
do you make Christ like giftingcharity easy? And I I can't
think of an easier way thanMhmm. You click a button.
Correct me if I'm wrong. A 100%goes to the charity.
The church does not take anymoney for operational costs or
anything. It just all of it goesto the cause. Is that right?
Tammy (05:53):
Exactly. In fact, the church of Jesus Christ for
Latter day Saints, it's mychurch, gives the money for the
credit card fee if you don'twanna pay the fee yourself. They
do all of the operating money.They take care of all that. So a
100% goes to the people.
And there's items I think assmall as $5 if you only have $5,
(06:14):
and there's items up to, like, afew $100. And the fun thing my
my grandkids like to do now, andwe did this several times, is if
you push $7.07 7
Mike (06:26):
Mhmm.
Tammy (06:27):
It will donate one of every single item in the
machine. And I think there's Ithink there's, like, 35 items
maybe. I I can't remember fromlast year. But just to watch the
kids watch those go down andthey count them. One, two,
three.
It's so much fun. And the joythat they get from doing
(06:48):
something like that is whatmakes my heart so happy to see
that our grandkids want to giveback, and they can do it, you
know, through these machines.They're amazing.
Mike (06:59):
It's a way that we can be human and help people.
Tammy (07:02):
Yeah. Exactly.
David (07:03):
And so do your grandkids
Tammy (07:04):
forward a little bit.
David (07:05):
What have you noticed their favorite, like, item is to
donate?
Tammy (07:08):
Oh my god. Goats and chickens. Who doesn't wanna give
a goat and a chicken? But thenthere, you know, our older ones
are a little more thoughtful.They're like, Sparkle, somebody
needs a bed.
And, like, can we donate a bed?I go, absolutely. Or somebody
needs groceries. I'm like, yes.Let's get groceries for someone.
The items are very curated byeach of the organizations that
(07:32):
are their most needed items. Andso it's great to see the kids
really study the machine andlook at them and pick what they
really want to give.
Mike (07:42):
I'm looking at the list here that was given to me about
the goat. I think it's $86 tobuy a goat. And the interesting
thing about a goat, it feeds thefamily. So there's a food
solution there, but there's asurplus, so it also creates a
business that allows them tosell extra milk, and that pays
for school supplies and otherthings as well.
Tammy (08:04):
It's the gift that keeps giving. That's for sure. Like,
these are helping people have abetter way of life and to
provide for their family whilealso feeding their family.
Mike (08:15):
I see one for a local charity, 300 pounds of produce.
Another one, six whole chickensfor someone in need. Yeah.
Hygiene supplies, week ofgroceries. Yes.
It's incredible. And you don'tknow who to help, but you know
if you buy it, it's going tohelp someone. And someone local
here
David (08:34):
in Kansas City.
Tammy (08:35):
Yeah. Maybe not the goats. Those goats in the
castle.
David (08:38):
But International. Right?
Tammy (08:39):
And I don't know what the items are this year. There may
not be any goats this year. Idon't know. There is. May not be
any chickens.
I haven't even looked at thelist yet. I'm, like, behind the
eight ball here.
Mike (08:49):
Well, there's even refugee female kits for those that don't
have access to that, which you'dthink everyone has access to
that. There's a large part ofthe world that doesn't have
access to that, which is justnuts.
Tammy (09:00):
It's mind boggling in 2025 that the whole world is not
doing okay. So that's where westep in and do our part.
Mike (09:09):
Make it a priority. For everyone listening Kansas City
or those in the podcastelsewhere, let us know if you
wanna donate to Kansas City or
David (09:16):
There are other giving machines around the country.
Mike (09:18):
Yeah. I don't know.
David (09:19):
There's a list somewhere on there.
Mike (09:20):
Google giving machines or or DuckDuck or whatever your
search engine is. Yeah. Yeah.It's the time Give back. To
give.
If you can afford to give alittle extra, there are so many
people in need.
Tammy (09:32):
Yeah. The thing I love best is that it's a fun family
activity. It's something you cando practically free just going
to Union Station, But then youif you have 25, you donate $25,
and then you just go see thesights and sounds.
Mike (09:46):
Tammy, thank you for joining us today and kicking off
our show.
Tammy (09:49):
Thank you. Y'all do a great job, so I appreciate y'all
having me on.
Mike (09:53):
Ain't she great? Good old good old Tammy Regan. Tammy's
great. Yes. Let's keep goingthough with the show, and I
wanna highlight a couple ofthings about the giving machine
that weren't really mentioned.
It's interesting that you havethe church, the Church of Jesus
Christ of Latter day Saints, andhow they're not being selfish or
trying to push anything around.Like, they've got here Catholic
(10:16):
charities. Yep. You know, one ofthe greatest charities of all,
collaborating on a local level.So there's there's a sense of
community here.
There's Halo, which is anothercharity, Happy Buttons, Mayor's
Christmas Trees, Science City
David (10:31):
Mhmm.
Mike (10:32):
Harvesters, Community Food Network. These are all charities
that help the local communityhere. Right. Things stay local.
As I've become more successfulin life, as I've been blessed
Uh-huh.
It's harder. You just you don'treally know how to help people
the same or in that certain way.Like, you don't know that random
person across town that's reallyin need. You might have a friend
(10:55):
that just needs a goodconversation. Yeah.
But to help people that reallyare in need, and it's going to
become, in my opinion, moreprevalent, AI is making it more
difficult to get into the jobforce. Just chew on that for a
second.
David (11:11):
And how does that manifest itself? Like, what are
you seeing out there? Like, wehear in the headlines that
Amazon, some number of people,what jobs are leaving, and why,
and what can we do about it, ifIt's
Mike (11:24):
easy jobs. Not even easy jobs. Entry level jobs, busyness
jobs. Jobs where you just kindof you take an order, you put it
in there, and you're just done.Those are being replaced, not
just by AI, but by robotics aswell.
Mhmm. I was at I was at aconference the other week. And
and coming back in Detroit atthe airport, I got a burger.
(11:45):
Yeah. I've never had a wallburger before.
I was like, oh, I'll try thisout. And I see in the back,
like, it's just a robot cookingthe fries. Really? So people
need to get an education. Peopleneed to develop skills so that
they're not replaced, but youcan't stop what's coming.
And especially in Kansas Cityright now, among other places,
(12:06):
we have a higher unemploymentrate. That's a problem. People
are struggling, and it's goingto get worse before it gets
better. I don't proclaim to havethe solutions to all of this.
Mhmm.
But look at this list righthere. We got was it $60 for 300
pounds of produce Yeah. That'sgonna help feed people. Six
(12:27):
whole chickens,
David (12:28):
five food boxes, like That's all going to harvesters.
Mike (12:33):
Yeah. These are easy things you could spend money,
make an evening out of it. LoveUnion Station.
David (12:38):
Yeah. It's fun going there. I mean, we need an excuse
to get there sometimes.
Mike (12:41):
Yeah. And you go to Rocky Mountain Chocolate Factory, get
a little nice little treat. Wego to Science City often because
we have young kids. But theChristmas feeling there, it's
just it's gorgeous. Uh-huh.
So making an evening out ofthis, really highlighting that
people are in need. You may notknow them, but dollar for
dollar, it all goes to a placewhere it's going to help someone
(13:03):
regardless
David (13:03):
Mhmm.
Mike (13:04):
Of religion, regardless of whatever category you wanna use
to divide people, get rid of it.It's going to help humans.
David (13:15):
Right.
Mike (13:16):
And then for our podcast listeners or those who are
traveling, I just pulled this uphere. Gosh. There's a map. The
Giving Machines, there's likeseven in Australia. I don't
think we have too many Australialisteners.
But they're all over The UnitedStates. This is pretty cool.
Looks like we've got some inDenver, some in Utah. There's
(13:36):
three in Boise, one in Portland,one in Eugene, Oregon, two in
Washington. There's one in SanFrancisco, Sacramento.
I mean, they're all over. Yeah.So if you're a podcast listener
and you're near a major city,chances are there's a giving
machine near you. Orlando, Igoogled giving machines, and it
(13:57):
was there. Yeah.
It's just incredible.
David (14:01):
It's a fun idea. Everybody benefits, both the
giver and the receiver. It'svery transparent.
Mike (14:08):
And it goes back to the original premise. Our mission
here at Kedric Wealth is to helppeople develop a healthier
relationship with money. What isthe purpose of your money? It's
not to become the richest personin the graveyard.
David (14:24):
Mhmm.
Mike (14:24):
Who cares?
David (14:25):
Yeah. At that point.
Mike (14:26):
Yeah. Yeah. Even the wealthiest person that dies,
someone's gonna be wealthier atsome point eventually. That's
called inflation. Yep.
Like
David (14:36):
Isn't Elon Musk set to become the first trillionaire if
everything goes right with hisnew contract, or
Mike (14:42):
do I think he already got that. I don't know. Yeah. It's
ridiculous.
David (14:46):
But anyway, it's just wild to hear, you know, trillion
associated with one
Mike (14:49):
person. And and just not to defend him or anything. Sure.
It's not like he's sitting on atrillion dollars of cash.
David (14:54):
No. No. No.
Mike (14:55):
Yeah. It's stock.
David (14:56):
And
Mike (14:57):
if he sold it all, it'd tank the company. Like, Jeff
Bezos isn't sitting on hisbillions of dollars in cash.
Yeah. He's got a lot of moneyfrom the dividends paid out from
Amazon or whatever, but theirassets are illiquid in some
sense. It's tied up in acompany.
David (15:12):
Mhmm.
Mike (15:12):
So it's I think some people misunderstand that
valuation process, Butregardless, they've got a few
extra bucks. Yeah. But so do we.Right. What's the purpose of
your money?
You know, there's been aninteresting theme the past
couple of weeks as we've beendoing retirement plans, where
I'll ask someone to say, well,what do you wanna do in
(15:32):
retirement? I don't know. Whatdo mean you don't know? Well,
I'm retiring because all myfriends are retiring. Are they
happy in retirement?
No. So why do you wanna do whatthey're doing, which is
miserable? Why would you retireand end up worse off from a
mental standpoint, from aphysical standpoint, from an
(15:54):
intellectual standpoint? Work isactually a good thing. And if
you think about it, can I nerdout a little bit?
David (16:02):
I mean, if we got the time, let's do it.
Mike (16:05):
So what's the purpose of your money is the premise. We
want a healthy relationship withmoney. Forget about money for a
second. What about your time?What's gonna give you purpose
with your time, your mostprecious asset, a limited
commodity?
You can't buy it back. What areyou gonna do with that? If you
think about it, well, let's saywork is 75% of your time, and
(16:27):
then the twenty five percent'sdivided up into your romantic
relationship, your familyrelationships, and your friends.
That's 25% or so. And work isthe rest of it.
What are you gonna replace yourwork with? A lot of people say,
well, I'm gonna busy myself withvarious things. Well, with what?
When are you gonna busy yourselfclean the house? How many times
(16:47):
can you clean your house?
Yeah. How many times can you cutthe lawn? How many times can you
go golfing or fishing? Mhmm. Andso when you start asking
questions, you can start to havea more holistic, healthy
conversation about your time andyour money.
For example, I don't wanna havean existential crisis
conversation here, but, you know
David (17:09):
Okay.
Mike (17:09):
What's the meaning of life? No. That's not gonna help
anyone right now. This is a apodcast show. We could debate
that for hours.
What's the meaning of life? Whyare we here? Where do we come
from? Where are we going? Right?
These are existentialconversations. Well, let's save
that for religion for a moment.And let's then take a
neuroscience perspective andreverse engineer the feeling of
(17:34):
purpose.
David (17:34):
Okay.
Mike (17:35):
The endorphins that make you feel like you have purpose.
There are three of them.Oxytocin, serotonin, and
dopamine.
David (17:45):
That's all in your body?
Mike (17:46):
Your body makes that? Your body produces these medications.
David (17:49):
Okay.
Mike (17:49):
And they feel great. So serotonin is something your body
produces. It's an endorphin whenyou're connecting with someone.
All humans are hardwired toconnect. So when you connect
with a family member, with aromantic relationship, with a
friend, it feels good.
When you're rejected, it hurts.Those are the other drugs,
(18:10):
norepinephrine, testosterone,cortisol. You don't want those.
You want the serotonin, the goodconnection. Well, how do you
build the connection if youleave work and you end up
sitting at home alone?
You don't develop it, so you'regonna feel a sense of sadness, a
sense of emptiness because thisendorphin that supported you,
that's given you the sense ofpurpose is gone. How about
(18:32):
dopamine? Dopamine is felt whenyou accomplish something. You've
won. You know, at work, youclose the deal.
You solve the problem. Youconnected two teammates that
were bickering, and now they'reokay again. There's a sense of
euphoria from dopamine.Oxytocin, another euphoric
(18:52):
feeling when you get theseexperiences in a healthy way. So
you either have to take the workside of things and develop other
activities of intellectualpursuits, of giving pursuits, of
and and the list goes on tostructure and design it so that
the activity itself gives you afeedback loop, gives you these
endorphins, you will then fill asense of purpose.
(19:16):
Mentoring's another one. How areyou gonna leave your legacy?
What if you spent five hours aweek, one day at some sort of
library school function tutoringprogram, or you just are
creating a mentorship programfor let's say you're an
engineer, and you're gonna trainup five engineers from college
to become whatever type ofengineer you were, and you're
(19:37):
leaving a legacy. What if youwere a researcher publishing
your research, leaving a legacy?Those are meaningful things.
Riding out your legacy for yourkids and grandkids and
generations to come, these aremeaningful activities,
especially when you get thefeedback loop that you share it
with them and they're loving it.Yeah. Too often we say, I'm
gonna retire because it's whateveryone else does, and they're
(20:00):
doing busy activities that haveno meaning because they don't
give you these drugs that yourbody produces. No one talks
about this way. I will even goas far as to say that financial
planners, financial advisershave done people a disservice by
saying you can afford to retire,so you should.
I believe just because you couldafford to retire does not mean
(20:21):
you should. You've got to lookat the other side of the coin.
Yeah. Does it make any sense?Any comments?
Any questions?
David (20:27):
Yeah. This I mean, this is something that is maybe not
widely publicized. There'sprobably other people talking
about it, but yeah. What what doyou do with all this newfound
time? You know, I've heard somepeople say, and I won't mention
them by name, like, my spouse isgonna drive me nuts now that
he's home.
I need to be I need to be awayfrom him.
Mike (20:45):
Here's a story from doctor Himmler's book. It was a general
that retired, and his wife ranthe house. So they're both kinda
generals. One was a general inthe army. The other was a
general of the family.
They both spent very little timetogether as the kids were
raised. They were both very,very busy. He retired. He came
home, and there was a lot oftension there, if you will,
(21:08):
because he wanted to run thehouse. She was already running
the house.
Lot of contention. But theirplan was, well, they're gonna
get on a nice road trip, rentthe RV, and go out and see the
sites. By the time they made itto Texas, because they were, you
know, they started in the Southand made their way to Texas,
They already had divorceattorneys on the line. Yeah.
(21:30):
They were set up to fail.
Right. And it was because ourhistory, our experiences shape
our habits. Our habits, abehavioral pattern shape our
habitat, and sometimes you'vegot two alphas in a habitat that
don't wanna exist in the samehabitat. That's a problem. Yep.
(21:51):
These are things that are nottalked about enough that need to
be addressed. So going back tothis idea, well, you're supposed
to retire so you can busyyourself with randomness. That's
not necessarily a good thing,and I wanna give everyone
listening permission to keepworking. If you wanna keep
working, keep working. Yeah.
If you're laid off because ofageism, which is a very real
(22:13):
thing, who cares? Get anotherjob. Yeah. That's okay. People
will see the wisdom in what youdo, and hopefully will welcome
you to the fold and keepworking.
David (22:24):
It might be kind of freeing too to be working on
your own terms. Like, hey, Idon't need to be doing this, but
I'm doing it because I want to.Maybe that's different.
Mike (22:31):
That's the cool part. So now let's let's rope this back
into gifting for a second. I'vehad several conversations where
the person wants to keep workingbecause they love it so much.
Mhmm. And they say, well, shouldI work for free?
I say, why would you ever workfor free? Because I don't need
the money. I would tell them,no. You don't work for free
because I mean, if you'reworking with a charity, that's
(22:52):
different.
David (22:52):
Mhmm.
Mike (22:53):
But if you are a professional, you don't work for
free, because if you work forfree, you'll be taken advantage
of, and it creates this rift,this kind of a wedge in the
relationship. And then they askyou for stuff, you don't wanna
do it, and the relationship'sruined. Sure. You should be
compensated for the work thatyou provide. That's how it
works.
But now you have more money. Andas you continue to work and you
(23:16):
have more money, you have moreopportunities to gift. Now you
gotta be smart about this from atax standpoint. You don't want
to necessarily save more in yourIRA because if it's in your IRA
and you're alive, you can'teasily gift to people. You've
gotta pay the income tax.
Why are you paying income tax onit? Like, that that's an issue.
Mhmm. Now if you're 73 years oldor you're qualifying for RMDs,
(23:39):
required minimum distributions,you could donate up to a 108,000
or so. Check the tax year totwenty twenty five, twenty
twenty six.
Uh-huh. But around $708,000 orso of your RMD to a charity, not
pay taxes on it, the charitygets all of it.
David (23:53):
And that can come out of your traditional IRA? Mhmm.
Mike (23:55):
Wow. That's like the only way you can really gift from an
IRA. Now if you did pay theincome tax, you put it into
stocks, ETFs, whatever, thenmaybe you're just waiting for
the right charity, the righttime, the right gift, and maybe
you're gifting to your kidsbecause you wanna help them
while you are alive, not dead.Mhmm. Help them get into the
(24:17):
house, Help them pay off theirstudent loans, whatever it is.
Maybe that's your version of thegift. And the annual gift tax
exclusion, 19,000 per recipientper person or 38,000 if you're a
couple. Okay. No reportingneeded. That's kind of nice.
Yeah. But if you wanna giftmore, you can. You just have to
report it. I think it's formseven zero nine of the tax code.
(24:37):
You're just gifting part of yourestate exemption.
David (24:42):
Yeah. A lot of big words there.
Mike (24:43):
That's why you work with a tax professional, but you can
gift more now. And it's cool ifyou sell the security. Right?
You might pay some capitalgains, but you can help right
now. Or you can just put assetsinto a growth portfolio, and
then you gift it without sellingit to a charity.
They don't pay capital gainstax. They're a five zero one c
three.
David (25:04):
Yeah.
Mike (25:05):
So what if your purpose is to continue to work, continue to
create wealth, so that you'reable to gift it when you want.
Very nice. That almost givesyour work, which you already
have purpose and already lovedoing, an extra bonus.
David (25:21):
The cherry on top.
Mike (25:23):
I mean, why wouldn't people wanna do this? Yeah. And
it's okay if you don't. I mean,if you wanna go golfing, let's
talk about that real quick. Idon't wanna bash people that
enjoy golfing.
Yeah. Golfing can be a veryproductive thing or fishing or
any hobby, sewing, quilting,running, exercise. It could be
traveling. Anything could be aproductive exercise, a
(25:44):
productive activity. Thedifference is are you wasting
time or are you growing?
Happiness is rooted in growth.So if you're a golfer and you go
out to the golf course with yourbuddies just to get drunk and
waste four hours, it's probablynot good for you. If you go out
(26:05):
to the golf course because thisnext time you just learn this
new way that you can a newtechnique that should take off
one stroke of your game andyou're really excited about it,
and it does take off one strokeof your game. Oh my gosh. And
you do that with your friends.
You're getting serotonin. You'reconnecting with friends. You're
getting dopamine because you'veaccomplished something. You're
so excited. And then you've gotthe oxytocin that also is in
(26:27):
there just for the euphoricactivity of the success that
you've experienced.
That's a really cool situation.Yeah. So then golf can become
productive because you'reanxiously engaged in growth, in
development. When people say, Idon't need to learn anymore, and
they sit in front of the TV,you're basically just asking
yourself to speed up your dateof death. If you're busying
(26:50):
yourself with cleaning the houseevery single day and mowing the
lawn for the sake of mowing thelawn, and and you're just doing
it for the sake of doing it, orbecause you wanna keep up with
the neighbors, oh my gosh.
I mean, what have we done? Oh,you could afford to retire so
you should? Ugh. I don't know.
David (27:09):
I just We gotta find some purpose is what you're saying.
Mike (27:12):
And it's not the existential crisis. I mean, I
love religion. I go to churchevery Sunday. I think religion
is one of the best things that ahuman can have in their life.
But we don't need to have theexistential crisis for the
atheists out there, for maybepeople who aren't Christian.
Whatever it is, you can stillfind purpose, not in the
existential sense, but in howyou're connecting with others,
(27:35):
how you're challenging yourself,your intellectual pursuits, your
physical activities. I mean, itfeels really good. You play
tennis. Right?
David (27:44):
Yeah. I have. I've been known to. You've dabbled or
Mike (27:47):
you mountain bike as well. I do that also. Yeah. Actually,
hold on. You had a recent story.
How'd it feel when you kept upwith the mountain bikers?
Because you were lagging alittle bit. You got a little
lax.
David (27:57):
I ride with people much faster than me, and so I'm
always chasing.
Mike (28:02):
But there was one time you kept up with them. How'd that
feel?
David (28:05):
Yeah. That felt really good. I mean, I was able to keep
up with him. I don't know if Ishould divulge what substances I
used, but it was all legal.
Mike (28:13):
You had some ketones. Yes. I did. That's not a weird let's
not suggest it was anythingweird.
David (28:20):
There's nothing nefarious. Yes. Some ketones
mixed with some caffeine.
Mike (28:22):
But anyway You've never had ketones before. And for
those who don't know whatketones are, ketones, it's just
something that professionals orenthusiasts use as a caffeine
substitute to help yourendurance exercise. Yeah.
Consult your medicalprofessional or a dietitian or
just read the label. It's it's ahealthy thing.
David (28:44):
But I used that, and I kept up. And years I've never
kept up. And then I did thistime, and it felt really good.
Mike (28:52):
Yeah. What experience. Yeah. Was. I loved it.
So anyway, when it comes topurpose of life, charitable
gifting, helping others, we'renot here competing against
people. We're here on our ownjourney to grow, to develop
ourselves, and then ourabundance may be part of it can
(29:12):
be used to help other people.
David (29:14):
Yeah. Isn't that great?
Mike (29:15):
That's the moral of the story. If we had anything today,
I think that would be today'sconclusion on at least the
charitable gifting. Hey,everyone. Mike here, financial
adviser, insurance agent, taxprofessional, and founder of
Kedric. Did you know that twothirds of baby boomers say that
they are not on track to haveenough saved for retirement?
And to make matters worse, wecould be headed into a flat
(29:36):
market cycle, which could makeit more difficult to grow your
assets, and so on. Look, thesedays, it's easy to feel
overwhelmed by inflation, marketrisk, the job market, the
economy as a whole, and so muchmore. There's so much fear out
there. That's why having a clearplan is more important than
ever. Now at Kedric, wespecialize in helping people
(29:57):
prepare for retirement so thatwhen the time is right, they can
retire on time with confidenceand clarity.
The reality is that preparingfor retirement is more
complicated than putting moneyinto the market and hoping that
it grows. As you approachretirement, you've got to
consider how you're saving thefuture tax implications of those
decisions. You've got to accountfor the risks that you're taking
(30:18):
now as you approach retirementand even after retirement. This
list just goes on and on and on.Putting together a comprehensive
plan now, even if retirement isten years away, can help you
better prepare for a moredeliberate and efficient
retirement plan so that when youdo retire, you can potentially
get more out of your hard earnedmoney.
Schedule Your Wealth Analysistoday by calling (913) 363-1234
(30:41):
and explore what your lifestyleand legacy could look like.
(913) 363-1234 or go towww.yourwealthanalysis.com.
You're listening to how toretire on time. Now let's talk
about tax strategies.
David (30:56):
Okay.
Mike (30:57):
So a lot of people say, I wanna minimize my taxes. You
can't gift your way to wealth.You can't deduct your way to
wealth. So let's just have somefun for the rest of the show
talking about tax strategies.
David (31:07):
Okay.
Mike (31:08):
In my opinion, investment management is a wonderful thing,
and we're very proud of ourperformance. We're very proud of
how we manage our money. But itis a drop in the bucket compared
to the amount of work that taxplanning can have on someone's
life, on the benefits of theirtheir life. So when you're
(31:30):
looking at a ten forty, whenyou're looking at tax planning,
if you wanna get more out ofyour money, it's the secrets, I
think, are really in the tenforty. Ten forty, that's when
you file your taxes, you havethe ten forty.
That's kind of a review of ofyour return.
David (31:45):
Mhmm.
Mike (31:45):
Understanding the differences of how you structure
your portfolio and where themoney is going to go is huge.
Whether it's for giftingpurposes, whether it's for your
spending, whether it's for youhelping your kids, whatever it
might be. Huge differencesbetween ordinary income versus
qualified or ordinary dividendsversus qualified dividends.
People don't know thedifference. Yeah.
One's taxed at ordinary income,one's taxed at long term capital
(32:08):
gains. And it's how you investin your dividend portfolio, how
you structure the portfoliothat's gonna determine the
difference.
David (32:15):
Yeah. You were showing me this earlier today here in the
office, and my eyes got big. Thedifference between the numbers.
Thousands of dollars every yearin less taxes. Yeah.
Because of qualified versusnonqualified dividends.
Mike (32:27):
Yeah. And we just assume, oh, that's the easy button, so
let me just do that. There'sunintended consequences to it.
Especially if you're reinvestingthe dividends that you're paying
taxes on over and over, youcreate a larger issue with your
income. Or understanding this isan interesting one.
If your income and your SocialSecurity is at a certain level,
maybe you've maxed out a certainthreshold, and then you go $1
(32:51):
over. Maybe it was interest fromyour high yield savings that you
put in there. $1 over, there'san extra $23,000 in your taxes.
Yeah. So understanding how youend a year and then how you
start the next year and how youdo your planning in 2026, these
things matter.
Yes. It's good to grow yourmoney. Yes. It's good to invest.
(33:13):
It's good to have a strategy,and we're very proud of that.
But unless you incorporate thetax planning side of things, I
think it's difficult to reallydo it well. Just some thoughts.
Yeah. I kinda wanna wrap this upfull circle. Common questions
that I get, and please add someof the questions that you get
(33:34):
when it comes to what's thepurpose of your money is a great
question.
Mhmm. Is it for charitablegifting? Is it for legacy to the
kids? Is it for maximum income?Notice how it's all about the
result.
Depending on that result isgoing to influence then where
you put the money. It's gonnainfluence your income
(33:54):
strategies. It's gonna influenceyour tax, high rate Roth
conversions, for example,strategies, because where the
money is going, it makes a hugedifference. Mhmm.
David (34:03):
So let's say someone wants to just spend most of
their money as opposed togiving, like, either to their
their
Mike (34:12):
Wealthy, not wealthy.
David (34:12):
Yeah.
Mike (34:13):
Which category? So where would
David (34:15):
they if they're looking to just spend it, like, where
should it be versus if they wantto, give?
Mike (34:21):
If they wanna give, they need to have flexibility. If
they want lifetime income, thenyou gotta have a couple of
strategies based on if themarket up or is the market down.
If the market's down, you gottahave the ability to take income
from a protected source so youdon't accentuate losses. Now
those who have less might buy anannuity, have guaranteed
lifetime income, because youdon't wanna trip up in a market
crash or a flat market cyclewhere the stock market makes no
(34:44):
returns for ten years. Like,there are certain precautions if
you have less money.
If you have more money, you'vegot more flexibility. So if
you've got more flexibility,then you can do a more
deliberately designed portfoliofor tax efficiency and
flexibility.
David (34:57):
Okay. Yes.
Mike (34:58):
And so you're looking at things like and this is a common
misconception. Let's have somefun with this.
David (35:05):
Okay.
Mike (35:06):
People want the highest average annual return. Yeah.
That's not what people should belooking for.
David (35:13):
Right.
Mike (35:13):
You can have a lower average annual return and grow
your money faster than a higheraverage annual return and grow
your money slower.
David (35:23):
Yeah. That would seem counterintuitive.
Mike (35:24):
Mhmm. Retirement is won by strategies, not by products. The
$60.40 portfolio is a product,not a strategy, because you buy
it, you hold it, and mayberebalance once in a while, and
then when the markets crash,whatever. What if you have some
assets long term in the market,you've got some assets that are
(35:46):
protected, and you you're readyfor a market crash. Take income
from a protected source.
Your other accounts are down.You're doing more IRA to Roth
conversions, because if, let'ssay, the stock's a $100, it's
now down at $50 a share. You canget twice the amount over from
IRA to Roth. You pay taxes outof another account.
David (36:05):
Mhmm.
Mike (36:06):
So you're not accentuating losses. You just two x'd your
IRA to Roth conversions and paythe same amount of taxes. Those
are cool things. If you havecharitable gifting when the
markets are down, think justthink about this way, the long
term perspective. If markets godown, you've got some assets
that are protected that you canpull out of and buy at a dip.
(36:27):
If you're buying things on sale,then whenever it recovers,
you've exaggerated your growth.It's leapt forward, assuming
that whatever you put money intogrew. Now you got more money to
give. It's not about set it andforget it. It's not about the
product that you need to buy.
It's not about buying an annuityhere or buying these ETFs over
(36:49):
there, and that's good enough.The oversimplification is what
prevents people from gettingmore out of their money through
strategy, through understandinghow to change based on the
dynamics and the evolution ofthe market of your portfolio and
so on. And it pains me, and thereason why it pains me is
because I know people couldprobably pay less in taxes. I
(37:12):
know people could probably payless in taxes when it comes to
income or IRA Roth conversions.They could be growing their
wealth probably a little bitbetter, more strategically.
When there's more that could bedone, why wouldn't you? Mhmm.
And the answer is because youjust didn't know. I mean, do you
remember the first time when youcame to work here at Kedrick
(37:32):
Wealth, What it was like tofirehouse? Because Yeah.
You worked in the industrybefore.
David (37:38):
Yes. I had You left. Many moons ago. Yeah. And then you
came back.
Yeah. So there was a little bitof a baseline knowledge, but it
was a while ago. And, there's alot to this industry, and
there's a lot of things I hadnever thought about in my life
until you started talking abouta lot of it. And it's been eye
opening for me. I've had to askmyself some questions.
(38:02):
A lot of questions. Like, whatam I gonna do about this or
that, or how am I gonna plan forthis? I hadn't even started to
plan.
Mike (38:09):
Yeah. And kind of wrapping up, I would say this section of
today's show, there's a certainsequence that must be followed
if you are to shape yourretirement or potentially not
retirement. Maybe yourretirement is really you
continue to work. Whatever yourencore is in life, You've
crossed the threshold offinancial independence. You
(38:31):
don't need to work.
You might continue to work.Maybe you don't. The first
question that must be asked thatcatches a lot of people off
guard is, what do you want to dowith your life? What's your
lifestyle goal? What's yourlegacy goal?
How do you wanna spend yourtime? Will it give you purpose,
or are you just busying yourselffor the sake of just wasting
(38:53):
time? What does that look like?Until you can articulate that,
I'm not sure you could reallyput together a good financial
plan. Once you have that figuredout, then you can put together a
plan.
Now planned really is just anoverview of cash flow, of just
the money flows and so on sothat you understand, could you
(39:13):
afford to retire? And if youcould, is there excess? Are
there limits? Are you kind ofcutting it close? Do you wanna
work part time?
Do you not wanna work part time?You you put all of the
projections together, then youexplore strategy. Notice we
haven't talked about investmentsor products yet.
David (39:29):
Yeah. We haven't I haven't heard sixty forty split.
I haven't heard annuity. It'stoo soon. Heard none of that.
Mike (39:35):
So when you have your plan put together, you know what the
purpose of your money is. Is itgoing to charities? How much is
going to charities? Is it goingto income, or do you want
maximum income? There's nothingwrong with having maximum income
in retirement.
If you wanna have the mostincome, great. Yeah. It's your
money. Do what you want with itas long as it's legal. Yeah.
And then you've got thestrategies, which is how do you
(39:57):
accomplish your financial goalsmore efficiently? This is where
you break down the, hey. I wannabe charitable next year. Great.
Here's how we're gonna take yourincome and accomplish your
charitable goals next yearspecifically so that it's more
tax efficient.
And then the year after might bea totally different income
strategy. Having thatflexibility, the ability to
(40:18):
dynamically adjust based on whatyou want your money to do for
you is essential, in my opinion.
David (40:24):
Mhmm.
Mike (40:25):
And then once you've figured all of that out, you can
then start talking aboutinvestments and products you may
want.
David (40:33):
Yeah. And not everybody does it in that order.
Mike (40:35):
No. Usually, it's, alright. Here's the portfolio.
Here's the strategy. We're gonnagrow your money.
Here's how much you can take asincome. Here's an annuity.
Here's what the lifetime incomeis. Can you live off that?
Great.
Here you go. Sign up today.Yeah. Here's a privately traded
REIT. It's gonna pay this muchcash flow.
Does that work for you? Great.Here's private credit. It pays
this much right now. It's almostlike ignore the fact that when
(40:57):
markets shift, this could bedisrupted.
David (40:59):
And markets will shift. We do know that. Right?
Mike (41:02):
Oh, yeah.
David (41:02):
That happens. It can't be predicted.
Mike (41:05):
It works until it doesn't. Simple truth.
David (41:09):
Mhmm.
Mike (41:10):
So that's how it has to be done. And for everyone podcasts
or otherwise listening, there'sstill time in the year to put
together at least a plan so thatyou're able to make good year
end planning decisions whetheryou do IRA or Roth conversions,
or maybe you don't do IRA orRoth conversions. Maybe you've
got a little bit of room forcharitable gifting. There are so
(41:32):
many questions that need to beasked. If you wanna discover
what that is, go toretireontime.com.
Click that button that saysdiscover what's possible. That
simple. Retireontime.com. Visitthere tonight, tomorrow,
whenever is a good time for you.Retireontime.com.
Click the button. Schedule athirty minute call with me, and
let's talk about your lifestyleand legacy goals. Let's talk
(41:54):
about charitable intent. Let'stalk about what you want your
money to do for you, yourlifestyle and legacy goals. And
then eventually, we'll get tothe appropriate investments and
products for you.
David (42:05):
Yeah. I was just gonna say, during that thirty minute
call, are you gonna mention anyproduct names or any
Mike (42:10):
No. I mean, you might have a question, but not it's too
soon. Yeah. I mean, would youfeel comfortable talking to a
doctor who says, alright. Sohere's the drug.
I think you're gonna want it.Now what what's hurting again?
David (42:21):
Alright.
Mike (42:22):
No doctor's gonna do that.
David (42:23):
No. No. They need to first diagnose, and then they
can put together a plan withsome kind of prognosis. Right?
Mike (42:30):
Yeah. I mean, hey. I'm hurting. Where does it hurt? Has
anything happened recently inyour life?
Has this been a reoccurringissue? Yeah. Let's run some
tests. Like, they wanna figureout the problem before they
solve it. In finance, we gottafigure out the problems.
There's no such thing as aperfect investment product or
strategy. There's no such thingas a riskless retirement.
(42:50):
There's always risks. The trickis you gotta find the risks. You
gotta learn about the risks.
You gotta understand the risks,and then decide which ones are
you okay living with and whichones you're not. And what's
interesting is when I tellpeople that, some people will
say, I don't want that. I don'twant to acknowledge there are
risks, and they go to asalesperson that says, nope.
(43:12):
We're good to go. Guaranteedincome for life or whatever it
is.
You're all set. You don't needto worry about it. Well, that's
deceptive. You want the truth,or do you wanna be told what you
wanna hear? I'd rather tellsomeone the truth.
Yeah. Just my opinion. W w wretire on time dot com. Click
(43:32):
that button. Discover what'spossible.
David, let's wrap up today'sshow. Our charitable special
focusing on charities. Go to TheGiving Machine wherever it's
near you. If you're here inKansas City, you might even see
me there. My son and dad, wemight go a couple of times a
year just because it's so fun.
David (43:48):
There are goats that need to be purchased.
Mike (43:50):
We buy goats every year and a few other things as well.
It's a real treat to know thatdollar for dollar, this is going
to someone.
David (43:58):
Yeah. I mean, it ranges from $5 all the way up to looks
like $250.
Mike (44:02):
What's the $2.50?
David (44:03):
That is rent assistance. There are people that need that
out here, you know. It's rentsare going up. People might lose
their job. They might be in atemporary situation where they
just can't make it, so it's inthe upper right hand corner on
our card here.
Oh, yeah. Rental assistance,$2.50. Utility assistance, $95.
Family meal kit, 25. I mean,
Mike (44:23):
you could buy cheese for someone.
David (44:24):
Yeah.
Mike (44:25):
A family meal kit, $25.
David (44:28):
Winter gear. I mean, gosh. Yeah. Reliable
transportation, you chip in like$70.
Mike (44:35):
Can you imagine a kid without a coat in the winters
here? Ugh. I mean, it just thefact that it's on here means
that there are kids withoutcoats.
David (44:46):
Yeah. Right? I'm gonna that.
Mike (44:49):
I'm gonna buy that one, at least one of those. Yes. And
it's nice that it's going to theright place. Yep. It's going to
someone that's in need.
David (44:56):
Someone in need that's local Yeah. These are fully
vetted partners here.
Mike (45:01):
It just it upsets me that there's still this much
suffering in the world. Alright.That's not some, like, virtue
signaling crap. That's not whatI'm trying to do here. It's just
that there are real strugglesand people trying their best,
and they just need a littlehelp.
It's a great time to do that.
David (45:20):
Yeah. This makes it easy.
Mike (45:22):
I I'll tell you two stories here. So growing up, we
had a family tradition that andit was usually on Christmas
morning before we opened ourgifts, we would make lunches,
peanut butter jelly sandwiches,or because some people have
peanut allergies, ham and cheesesandwiches as well. We'd get,
like, a 100 different lunches.We'd all put them together. And
(45:45):
then we'd go down I grew up inSeattle, so we'd go Downtown
Seattle.
There's a homeless issue there.Mhmm. And I didn't wanna say
homeless issue. There are peoplethat are struggling that just
are down on their luck. They arehomeless, and they're just
trying to get back on theirfeet.
And then there's the addictissue. People that are just they
(46:05):
are slaves to a drug, and theidea that they can just get out
of this addiction is ridiculous.I don't think most people
understand how difficult it isto fight an addiction. I'm lucky
enough. I have not had to dealwith addictions.
But if you really understandaddiction and addiction
recovery, I mean, these people,it's basically like you're in a
(46:27):
canoe throwing marbles at abattleship expecting expecting
that that you're you're gonnagonna take take it it down.
Down. It is difficult. It isincredibly difficult. And so the
fact that they're there andthey're in these positions,
that's really tough.
And so we would do what we can,and we would feed the homeless.
Right? Or those that weresuffering from addiction. Yeah.
And if you think that I'm beinga little bit verbose here.
(46:47):
But if you think, oh, well,they're just they made dumb
decisions, and they picked thisaddiction, and it was their
fault. You don't understandaddictions. Life is hard.
There's a kink in your armor,and sometimes your kink just
happened to be associated withthat addiction. Addictions
choose you.
Some people just don't have todeal with that.
David (47:05):
Right.
Mike (47:06):
So be kind to those that are suffering from addiction.
Anyway, so we would go to thesepeople. Sorry. And when you look
them in the eye and you'rehelping them, it's so it's so
(47:28):
interesting because you don'tknow what to do. You don't know
how to help them, and you reallycan't save them from it.
It's their journey. But if youcan at least help them in that
moment, what a beautiful thingthat is. Yeah. I mean, I'll tell
you what, if I could walk upsomeone and just heal them from
their addiction or whatever itis, I'd do it all day long.
Yeah.
I don't have the power to dothat. It's going to be their
(47:49):
journey, and there are thingsthat can help them along that
journey, but it's still gonna betheir decisions. But just to
alleviate another human withthat, it was a very it was an
impactful part of my childhood.
David (48:07):
Whose idea was it to start this tradition?
Mike (48:09):
My dad. And we did not wanna do it at the beginning. We
really didn't. It'suncomfortable. You know, it's
Christmas morning.
We wanna do other things, butthat's the morning when
everyone's at home, and so theywere more in need of of just
some help. Yeah. So, yeah. Kidsare selfish. We didn't wanna do
it.
(48:29):
We were forced to do it. Mhmm.But it really shaped a big part
of my childhood.
David (48:37):
Yeah. Clearly.
Mike (48:41):
So when you're looking at the giving machine, it's like
that. And maybe you go down toDowntown Kansas City, or you go
down to wherever you arelistening to show, and you help
with a soup kitchen or any otherplace and help people, it
changes you for the better. Itreally does. Because it's not
about status. It's not aboutwealth.
It's about two humansconnecting. The second story I
(49:04):
wanted to share is the inverseof it. So I'm just some stupid
college kid on a break, and Idecided I was gonna do fake
being homeless for a day. Mhmm.I wanted to understand the other
side.
I've helped the homeless. I'vefed the homeless. Like, I've
done this. I wanna see what itwas like if someone perceived me
as homeless. Mhmm.
(49:26):
And I went to the thrift store.I got some crappy clothes that
didn't really fit me very well.I rolled around the dirt, and I
went down. I was, again, livingin Seattle at the time, so I
grew up. And I I just walkedaround with a sign that said,
don't need food, don't needanything, just want a friend.
And I just sat down the side ofa road with that sign. Sorry. I
(49:48):
haven't thought about this in awhile. What was so interesting
was everyone that walked by knewI was there.
David (49:58):
Mhmm.
Mike (49:58):
I knew they knew my presence, and no one was making
fun of me or belittling me.There was no negative sentiment
towards my current situation,which for all they knew, I was
just in a tough spot. But it wasvery apparent because they
didn't know how to help. Theyjust walked by. Mhmm.
(50:23):
Humans are good. I know there'sa lot of crap out there. There's
a lot of reasons to be angry.The news floods you with all
sorts of reasons to hate halfthe country or to hate certain
people. If you'll really look atunderstanding what media is, the
more angry they can get you, themore likely you're gonna keep
tuning in.
And it's really done adisservice. But when you get two
(50:47):
people together, regardless ofbackground, regardless of
beliefs, regardless of anything,and you just look at them and
and you think just imagine themsmiling. Just imagine them
laughing, telling a joke. Humanswant to be good. Humans are
inherently good.
It's just sometimes we don'tknow how to connect with
someone. It's sometimes we don'tknow how to help someone. Dave,
(51:09):
what's your take on this as Itry to get my composure
together? Yeah. You've beenthrust into service positions
and had
David (51:17):
to help people. Yeah. Helping people is I think it's
one of those things we just allof us, once you start doing it,
it just feels good. It's almostlike the difference between
eating a good healthy meal andhow you feel afterwards versus
just a bunch of junk. My kidsare telling me all the time, oh,
why does my stomach hurt?
Oh, well, it's because you hadthat candy, then you had that
(51:39):
sugar filled thing, then you hadthat sugar filled thing. That's
why. That's why you feel badright now. And so when you are
giving and you see the impactthat you've helped someone, it
instantly feels good, and thenyou wanna keep doing it more.
Yeah.
It's
Mike (51:57):
I mean, I'm a Christian, so I'm just gonna say it's the
most Christian thing you can dois to help lift someone else's
burden. Absolutely. So a coupleof highlights to wrap up the
show today. Our annual moreemotional show, I almost got
through without tearing up, andit happens, whatever. But if you
don't know how to help people,look up the closest giving
(52:19):
machine to you.
A 100% of whatever you put inthere goes to the cause.
David (52:25):
Yes.
Mike (52:25):
That's rare for a charity to do something like that. Yeah.
And it's coordinated with thedifferent charities. It's a
conglomerate kind of efforthere, which is really, really
cool. If you want a moreinteractive experience, one of
my favorite, at least here inthe Kansas City area, is called
the Flourish Furniture Bank.
I wanna give them a shout out.Yeah. There are people that were
(52:46):
down on their luck. Many womenwere abused and had to leave
tough situations. It's them andtheir kids, and they're getting
their apartment or their newhouse or whatever their living
situation is, but they can'tafford furniture.
Do know about this place?
David (53:01):
Yeah. So they were a part of the they were part
Mike (53:03):
of the getting machines last year. People go there, and
they get beds and couches andplates and everything they need
Yeah. Just Yeah. Start
David (53:14):
Yeah. What a great thing. It's needed, and there's someone
out there's a resource therethat coordinates it.
Mike (53:19):
You can just flourish furniture bank, Google it. Yeah.
You could donate your time. Youcan help families. I've gone
there, and I've helped take oldblankets and stuff, and I've set
it up to where we're creatingrags and stuff.
I mean, it's it's such a coolthing. And if you have kids or
grandkids and you take them tothis, you're helping them become
a better human. Yeah. There'sanother site, Just Serve. Is it
(53:40):
justserve.org?
Yep. It is. Just explain what
David (53:43):
that is. Justserve.org, not only is it a web page, but
it's also an app you candownload, and it is a listing of
all of the charitable needs. Soif you have some time that you
wanna volunteer, you can go onthere and then just scroll
almost endlessly through all theneeds. So it's sort of like an
aggregator for service.
Mike (54:02):
Of charities, of nonprofits Mhmm. Of service
opportunities.
David (54:06):
Opportunities. Yes. And so on. If you're whether you're
an individual, a family, or abig group of people, like, we're
looking for something to do, yougo there.
Mike (54:14):
We are so blessed as a society. There are many people
though that aren't as fortunate.Mhmm. If you go out of the
country and you see how most ofthe world lives, it's a very
sobering realization. Yeah.
So we want to implore everyone,if you have extra, find either
time or money, consider donatingwherever is right for you,
(54:37):
whatever you can get behind.It's not about being the richest
person in the graveyard. I mean,heck, if we could help you do
some tax efficiency, free up afew thousand dollars, donate it.
Yeah. Gift it.
That's a great reason for it.Yeah. Agreed. But it's, this is
what it's really about. It'sconnecting, it's helping.
(55:00):
This is what wealth is. It's aquality of life. It's not about
more money, but more moneyhelps. But more money helps make
those decisions, allow us to dothese great things. Anyway, I'm
I'm being a bit I'm dragging onhere, but justserve.org, great
resource.
Giving machines, you can lookthem up, find one near you.
Kansas City Union Station, I'llbe there several times. So if
(55:23):
you recognize me from theYouTube channels, say hi. Yeah.
We'd love to chat with you, butdo try and go there.
Make an experience this holidayseason. Make this season a gift
focused season. We are going to,in my opinion, experience more
unemployment, some hiringissues, maybe more layoffs are
coming on their way, we justhaven't heard about them yet.
(55:45):
People are in need. You've gotresources.
You can do it. Thank you all somuch for listening to the show.
This is How to Retire On Time,our annual charity focused show.
Means a lot that you listen toit. We'll see you in the next
episode.
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