Retirement Planning Show

September 2nd, 2023

Episode Transcript

(00:01):
Welcome to the Retirement Planning Show withhost Dave Kopak in the financial services business
for over thirty five years. TheirRetirement Planning Group LLLC is a registered investment
advisor. David M. Kopak isalso a registered representative of persh kaplan Sterling
Investments Incorporated PKS in their separate capacities. A registered representative of PKS, David

(00:23):
M. Copeck may recommend the implementationof securities through PKS instead of Retirement Planning
Group LLC. Perst caplan Sterling Investmentsand Retirement Planning Group LC are not affiliated
companies. Now It's time for theRetirement Planning Show on WGY. Keep out.

(01:04):
Some somebody says what they is away to make them smile. It's
a way to do when you gottaget a messy, get it on anywhere.

(01:42):
Hey, good morning, September ishere, or to believe September two?
You're happy? I know because you'refootball? Does football starts this weekend?
I think it does? College footballonce pros Thursday, first day of

(02:08):
school. You're looking forward to it, absolutely, are you not? Really?
I think my team will be betterthis year. My son calls me
the trader because I was a Giantfan for years. They started watching the
Bills. Have family that live outin the Buffalo area, deciding whether I'm

(02:34):
going to be a Bills fan thisyear or a Giant fan. My son
is a diehard Giant fan, Christopher, my son David could care less.
And I know that you hate thoseEagles, right, You're you're not an
Eagle fan? Right? Yeah,I'm a huge Eagles fan. You should
know this by now. Come on, it's the first weekend. I haven't
warned something that was Eagles related.That was wrong with it? Your wife

(02:57):
did Alabama hat, Your wife didn'tdo the clothes. Now if I'm supporting
college football today? All right?Well it's the weekend, folks. That
means it's time for the Retirement PlanningShow. We're here for two hours to
hopefully give you some ideas and conceptswith pre impost retirement planning. We are

(03:19):
extremely busy, a lot of excitingthings going on. I'll make some announcements
next week. We're dott in oureyes, crossing our teas, but we've
got some very exciting things that aregoing on, not only for you the
listener, but also for our clientsin future prospective clients, Your prayers are

(03:39):
working. Kelly is doing better,our friend, maid of honor and our
wedding. She's had a horrible battlewith cancer. But she did a scan,
a pet scan yesterday and it cameback clean. So your prayers are
working, and keep on praying forKelly and John. John is our cousin.

(04:00):
But it's just a crazy week.My wife and I. My wife
just recently took up golf, andwe truly enjoy it. It's fun to
go out and socialize and spend sometime with people. And I said to
her, I said, we're gonnabe up at the lake this weekend.
Why don't you throw the clubs in. We'll play some golf up at the

(04:21):
top of the world. And Ihad a friend of mine that she would
play up there all the time withher sister. And I said, I'm
gonna call her and just see ifthey'd give you, like a discount if
you'd play it after a lot ofcourses. Do if you play after like
one or two o'clock in the afternoon, then the phone wouldn't ring. What
the hell's going on? So Ilooked up on the internet and she's dead.

(04:45):
Died in July it's a wake upcall for me, same age as
me. You know, life isdrop of a hat. You never know
what's going to happen. So youbetter be and enjoying your life and maximizing
it and having fun and doing yourtrips and doing all the stuff that you

(05:05):
want to have with your family,because, like I said, a phone
call or a doctor's visit or anevent can change your life forever. I
know that for a fact because mydad went on a golfing trip at age
forty four and came back in acasket. So we've all had events in

(05:27):
our lives that are dramatic. Andthe bottom line gets down to is that
what we try to do is gothrough this maze of life at the Retirement
Planning Group and try to give youa helping hand. We're not perfect,
I can guarantee that, but wedo give you our best effort best effort
to try to facilitate what's in yourbest interests. Here's a story this morning.

(05:55):
I'm a listener and I'm also atalker, but I go into a
McDonald and McDonald's into a Stewart's ona pretty frequent basis to get my coffee
in the morning. I love Stewart'scoffee, just love it. You you
like Stewart's coffee, Yeah, justI like the flavor of it. Not
a Dunkin Donuts fan for coffee,but I do like the donuts. So

(06:23):
I'm in there this morning and Igot a cup of coffee, a medium
and a small muffin corn muffin littlesnack on the way down from Lake George,
and I'm holding my singles and yeah, it was like three or four

(06:43):
bucks. It was over five fivedollars, five dollars for a muffin and
a cup of coffee, five dollarsand change. And I said that the
guy, I said, I gotto be getting old here because I used
to get a box of these thingsand a coffee for five bucks. Now
I'm getting one. And he says, let me tell you a story.

(07:08):
He says, I've been working herenow for six seven years. And he
goes, this is the first timein a long time. He says,
I see people come in and it'samazing how many people are coming in with
jugs of change, change, andthey're taking their change out and they're dumping
it on the counter in order topay for the things that they need.

(07:30):
But that's the reality. That's thereality of what's going on right now.
As far as costs of goods andservices, you go out to dinner,
it's one hundred dollars apiece if yougo to a nice restaurant, if you
have a couple of drinks. Mywife and I were at Dust, Sticks
and Stones last night at the ScrewingLake, wonderful restaurant. Packed food is

(07:54):
phenomenal. If you like wood firedpizza, go to Sticks and Stones and
Screwing Lake. At a posta dishwhich was unbelievable with sausage, shrimp,
spices, la la. I can'tthink of the name of it again.
But if you're up around that areasScrewing like exit, I think twenty seven,

(08:16):
take a left. It's right upon the left hand side. It's
only half an hour from our house. I'm like George. But the thing
is is that things are expensive now. In the latest news, one trillion
dollars we're over right now. Creditcard debt one trillion dollars. I'm gonna

(08:37):
talk a little bit about that today. I talked to Jamie yesterday on w
TRY at ninety eight point three andshow. He's asked me, what are
you going to be discussing on theshow. And we're gonna be talking about
the scourge, the cancer for individualsthat are overloaded on credit cards. And

(08:58):
I can tell you from experience,folks, because I didn't come from a
silver spoon. My wife and Iwhen we were starting this business, I
did it by credit cards and homeequity loans on my house. And there
was a lot of times my wifeand I were holding our breath to get
over the hump. But the thought, the thing is is that there's one

(09:24):
trillion dollars. Now what's causing it? Cost of goods and service inflation?
I mean it's I just shake myhead sometimes. I as you're all know,
if you listen to the show,I got up early in the morning.
I'm four o'clock in the morning.Guy, four fifteen, four twenty,
I'm up. I'm out six am. I'm at market thirty two because

(09:52):
that's when they open, they're nolonger twenty four hours. And I'm doing
the shopping for the house. Nomeats, no cold cuts because we get
them at Fred the Butcher. ButI'm inside then, you know, you
stroll up and down the aisles.Who do that for a few years.
You know, it's sticker shock theprices of some of these goods that you're

(10:13):
buying today. If you want goodvegetables and you're up early in the morning,
go to Haner's in Half Moon.They have a vegetable cart, fresh
corn, tomatoes, zucchini, squashright out of the garden. Josh Hayner,
who my son used to play basketballwith, A wonderful child. Wonderful,

(10:37):
what a great kid he is.I got a beautiful farm right there
in Half Moon. But if you'relooking for some fresh vegetables, then they're
fresh, get over to Haner's becauseyou won't be disappointed. The corn this
year was just unbelievable. But we'regonna be talking about the cost of goods
and services, and we're also goingto be talking about sabers are being rewarded,

(11:01):
Savers that want safety are being rewarded, and we'll talk a little bit
about that today. Also, thetypes of guaranteed rates that are currently out
there the best that we've seen indecades, in decades. So if you're
looking for safety and guarantees, you'relooking for a portion of your portfolio to

(11:22):
be allocated to those types of investments. You got it. It's out there
right now. We'll go through thoserates. But this is a talk show.
You want to call in and havea chat. Do you have any
questions or comments? I'm live,This is not a prerecorded show. Drove
down from the lake. Takes meabout fifty five minutes to go from Lake

(11:45):
George to here to the studio andLatham. So without speedy, be careful
because there's State troopers out there earlyin the morning. But God bless those
guys. We do a lot ofwork now with state troopers. We've kind
of built a niche and we havea lot of State troopers, one in
particular, golfs with us on Thursdaynights. Hopefully we'll get a couple of

(12:07):
more involved. I think we aregoing to go one more Steve Who's gonna
start golfing with us, I think, which we look forward to. But
bottom line is is that if youhave any questions or comments, we're live.
I'm in the studio. Our telephonenumber here is one eight hundred Talk
to b guy. That's one eighthundred eight two five fifty nine forty nine.
One eight hundred eight two five fiftynine forty nine. This morning,

(12:31):
we're gonna be going over the marketsa little bit. We're gonna be talking
about guarantees, how savers are beingrewarded now that wants safety. And then
we're also going to be talking alittle bit more about does it pay to
have risk in your portfolio? Doesit pay? Does it pay? How
is the average investor done in regardsthe net return in their portfolio, because

(12:54):
these have been unprecedented times over thelast five years as far as market volatility.
But again, if you have anyquestions, one eight hundred talk WGY
one eight hundred eight two five fiftynine. We're gonna be back on Tuesday
in the office. We're closed onMonday because of the holiday. The rubber
is going to hit the road.We have a very, very very busy

(13:15):
schedule the month of September. We'rebooked all the way out now, I
think well into later part of October. If you want to come in for
a consultation, I know that I'mgonna go to Oneana. I'll be down
in Pennsylvania doing some road shows here, going down to see some clients I
haven't seen for some time. I'vegot a client right now that's very ill

(13:37):
in Pennsylvania and I'm gonna go downand see him, but if you would
like us to get in the carand come to you, we just recently
did that, went out and Isaw a wonderful couple out in Pattersonville.
Pattersonville and had a nice chat.Wonderful people. I was out by Gloversville

(14:00):
recently met a beautiful woman and herdaughter. Absolutely fantastic people. But we
enjoy getting out at least at oneon that trip with me. They have
a beautiful farm, beautiful piece ofproperty, So it's always nice to go
out and visit with the people thatlisten to the show. God bless you
all. We'll be right back afterthis quick message the eighty six percenters.
Do you know that eighty six percentof the population has no defined benefit pension

(14:22):
plan. For most of us,we have to take our life savings and
create a paycheck for the rest ofour lives in retirement. What is your
plan for retirement income distribution? Howwill you manage your assets during the most
critical years of your lifetime. NobelPrize winning economist William Sharp has called retirement
income distribution the nastiest, hardest problemin finance. He points out that investment

(14:45):
uncertainty and mortality can derail the mostcareful laid out retirement income plan. Call
our offices today to start the processof building a retirement income distribution plan.
After forty one years of being inthe financial services business, you need to
start taking action to start building yourown personal retirement income distribution plan. How
do you do that? To takeaction? Five one eight five eight zero

(15:07):
one nine one nine. That's fiveone eight, five eight zero one nine
one nine or RPG retire on theweb. Don't procrastinate, motivate to start
building your retirement income distribution plan fiveone eight five eight zero one nine one
nine. If you have any questions, please call in now at one eight
hundred eight two five fifty nine fortynine. That's one eight hundred talk w

(15:28):
g Y, one eight hundred talkw g Y. We are live in
studio to answer your questions. It'sa curial thing. Bring one man with

(16:00):
another man saying it away all right, well, hughey, San Francisco Boy,

(16:26):
Barry Band, Bay Area Band,Guns and Roses. Does anybody know
how they made out up there?Journey they were there last night's back.
You know they expect the largest crowdto a little that's your homework for this
morning, Zach put the doughnuts down. I know they had a big crowd.

(16:48):
My buddy from my Heart was workingit. They said it was the
largest crowd of so far this year. But I beat feet. I got
out of Dodger only to go upto the lake, so hopefully I know
he did. I avoided the traffic, so I know that guns n' roses
Axel Rose, Oh my god,he's still alive. Amazing. Those guys

(17:11):
lived hard, probably still living hardrock and roll. Right, all right,
Dad is helping the market, folks. The data that we're getting.
I've been saying this for the lastfew weeks. Job openings are falling.

(17:36):
Bad news is good news. Keepon saying that the more negative you're going
to see, the better off themarket's going to react. ADP Private Perry
rolls are cooling and go through.Unemployment is increasing to three point eight,
went from three point five to threepoint eight. And guess what that means.

(18:00):
That the stock market likes it becausethey think that the FED is basically
getting this soft landing maybe in place. So I'm not going to bore you
with the data because you can pickup a paper and you can read it
yourselves. If you get barons anda lot of people that invest or have
an interest in the financial markets.And it's a publication that I get every

(18:22):
week Barns and also the Wall StreetWeekend Wall Street Journal report. It's provided
to me right over the internet.But this week we ended up one point
four percent positive in the Dow,still lagging all the industries. It's up
about five percent of the year.SMP five hundred is up seventeen point six
and the NASDAC is up thirty fourpercent. We call the Magnificent seven and

(18:48):
the f S and P five hundred, and also that NAZDAC ninety ninety percent
of the NASDAC. The return thisyear is made up by seven stocks seven
seven. You're getting a duplication ofwhat we've seen before in the past.
It isn't a broad based rally,as you can tell by the dal Jones

(19:10):
industrial average only being up five percent. Your balance portfolios, depending on how
you're allocated between stocks and bonds bondsyear to data are only up one point
six percent. Why is that Becausethe coupons the yields are rising, so
that means that then asset value theportfolios are dropping a little bit. But
the bottom line gets down to isthat we are very bullish on bonds right

(19:33):
now, very bullish on bonds.We think it's a great spot. There's
great coupons if you're patient, patient, you know, and a lot of
people aren't patient. You know.We become heroes and then we're zeros the
next year. One year we're great, the next year we're just you know,
what is wrong with you guys?Don't you know what you're doing?
But being invested in the stock orbond market time is your friend. Not

(20:00):
timing that timing you know that everybodyseems to think you should be in and
out out and in picking this one, picking that one, doing this,
doing that doesn't work, doesn't work. That's why hedge funds go broke and
go bust because they are the onesthat have all these brains that supposedly can
predict the future, and very fewof them actually make it to the finish

(20:23):
line. Most of them bust liquideight and go into the green pastures of
being vaporized. So the thing isis that a blended portfolio right now,
depending on how it's allocated between cash, bonds and money market, maybe some
alternatives you're probably looking somewhere around sixto eight percent ballpark you should be up

(20:47):
year to date. That's about thenumbers that we're looking right now for our
balanced portfolio, somewhere between six toeight percent, depending on the allocation and
the amount of exposure that we hadto the triple cues that you know,
for the people that wanted to stayinvested in the market. So bottom line
is is that you know, greenis good, we like green. Green

(21:08):
is good, we love green.Green means that you got some profits.
Pretty bullish on the second half ofthis year. I know that we're going
into an election year, so thattypically means that there's gonna be some uncertainty
in the market. But we haveour first caller. God bless this woman,
Dawn. Good morning, Good morning. How are you doing well?

(21:33):
Thank you? How are you?I'm doing fantastic. I have my coffee.
I had Yeah, I had mycoffee and I had my doughnuts,
So I'm good. You're good togo. I got my sugar in me.
What can I do for you?What can I do for it?
I just have a question about wehave an IRA c D. Yeah,

(21:55):
and when is it like A isit worth while? I'll say too canceled
out and you have an interest penaltyso that you can get a higher interest
rate. That's a pretty that's apretty easy calculation to do. We actually
have a software package that does thatfor you. But you're what was the
CD rate? What we're what we'rewhat were you're receiving as far as the

(22:17):
interests on the CDs? Wait,well it's three point five yeah. Well,
in a twelve month treasury, twelvemonth treasury right now, I won't
even quote CDs, but a twelvemonth treasury, meaning that you just tie
your money up for twelve months,you can get a yield right now five
point three six percent. Five pointthree six that's what that's what it closed

(22:38):
on Friday. A six month isfive point four eight So you can get
almost two percent, you know,two points higher. Depending on how long
you want to tie your money upfor. You can get five percent guaranteed
I ain't know for sure, guaranteedright now for five years, five years
guaranteed principal and interests for one year. But that's a US treasury, that's

(23:03):
not a CD no, but Ican get you see, well, the
treasury is backed by the US governmentone hundred percent CDs or two hundred and
fifty thousand dollars. But the thingis is that there's a lot of alternative
investments. Myga's multi year guaranteed annuities, which are just like CDs as far
as principal and interest guaranteed. Youcan currently get five percent with those guaranteed

(23:26):
for five years, for five years, yep, five years, and it's
entirely safe, just like a CD. Yep, yep. I've been doing
it for forty one years. Noone ever has lost a penny. Plus
you get, you get, youget additional protection through New York State,
up to five hundred thousand dollars ofprotection. So I have to take a

(23:48):
hard break here, Dawn. Butif you give me a call at the
office, I'll give you the ratesthat are currently out there on Tuesday,
and I'll be more than happy tohelp you if you're looking for guarantees,
my dear. Okay, sounds good, thank you. Okay, God bless,
have a great weekend, and we'vegot to take a hard break,
So we're gonna be back after thebottom of the hour. God bless everybody.

(24:11):
Labor Day weekend. Don't drink anddrive. We'll see after this quick
message. A silver hung away asa silver do fastic baby, love you

(24:53):
get away all that stupid rib butstanding him away, that's a good one.

(25:18):
I like that. Got a littlefunk to it. Doobies. Yeah,
I like that one. That's notone of the top ones, but
it's got a little bump to it. Man, moving my feet, jumping
up and down. I gotta havea bet with you Giants. I think

(25:45):
the Giants start with the Cowboys.Isn't that their first game? Yes?
It is. Oh my god,at Giants, you guys paid the Patriots
or you're going to kick their butts. I think philadelph I think this is
Phillies year. I really do.They gotta That quarterback is great. He

(26:07):
really is. He's got a workethic like you. Yep. Absolutely,
it's amazing. There's a famous phrase, It's amazing how lucky I become when
I work hard. Think about it. Nothing comes easy. The harder you
work, the more reward you'll have. You know, I saw my mother

(26:30):
and father worked morning, noon andnight. I know it's like to work
on a farm, be there sevendays a week. You know what it's
like. You know, my motherand father got real smart and then opened
a restaurant. That's harder than afarm, harder than a farm. But
the bottom line is is that myheart goes out to a lot of these
people, these farmers, and youknow, you know, I've got a

(26:53):
soft spot for people that work inthe restaurant industry because it's such a hard,
hard, hard job, but it'svery rerewarding. You meet a lot
of great people. I enjoyed it. I enjoyed it all the time,
but I knew that that's not whatI wanted to do for the rest of
my life. But like I said, working I always worked two jobs.

(27:15):
When I wasn't working, I wasbartend I figured it was better for me
to take the money from them,the meat being on the other side of
the bar paying somebody else. Youknow, you can still socialize, and
but you're getting paid, getting paid, bringing home some bank instead of losing
some bank. And then, ofcourse, you know, my son's leaving.

(27:37):
He's going to Tampa. He's gotabout three or four weeks left.
Mom and Dad are gonna take himdown. Him and his buddy. They're
moving to Florida, Tampa. Gottheir apartment. They're all buttoned up.
So David Michael my son will soonbe a resident of the Sunshine State Florida.
But I told him go do it. I hate it. I hate

(28:03):
to see my kids go away.But bottom line is he seems to think
that his future is brighter down there. And it's too bad because New York
is such a beautiful, beautiful state. But that's the reality. The exodus
continues and things are getting more complicated. I had a friend of mine that
was just down in New York Cityand he says, it's not pretty what's

(28:27):
going on down there right now.And anyone that lives in the city will
tell you the same thing that thiscrisis that's going on right now with immigration,
it's not it's not good for anybody. It's not good for the people
that are What happens in the winter. Where do these people go in the
winter and they can't sleep in thestreet? Politicians not in my top ten,

(28:52):
Not in my top ten. I'vealways believed in one word, as
long as I've been in business andas long as I have been a father.
Fair. Fair. It has tobe fair for everybody. Can't be
one way or the highway. Wantedto talk a little bit about you know,

(29:18):
we're talking about the woman that calledin, the one that was talking
about the CD. You know,you can run the numbers and then make
you know, it's a pretty simpleformula to see, you know, how
much is the penalty and how muchwill I have in the same period of
time, or if you're looking tolock in a guaranteed rate for an extended
period of time. But I'll sayone thing most people that buy CDs.

(29:41):
I'm not against CDs, Okay,I just want to let you know,
but if you're buying CDs outside ofqualified plans, if you're buying CDs with
non qualified assets moneys, that areyou know, no different than you're checking
account or your savings account. You'rebuying CDs that is a tax bowl,
consequence tax tax, tax tax.So if you want something that is comparable

(30:07):
that was going to give you sometax benefit, meaning that the money is
going to grow on a tax deferredbasis, please just do a simple calculation
of a CD versus an MYGA amulti year guaranteed guaranteed a nuity. Okay,

(30:29):
multi year guaranteed annuity. Don't listento the screaming monkeys that you should
never do them. That the onlyreason why the financial advisors doing it because
they're making a big fact commission andthey're not liquid. That's all bs.
They don't know what the hell they'retalking about. In reality, a multi
year guaranteed a nuity will give youthe same type of guarantees, but you

(30:51):
don't pay any tax out of folks. And you do that for an extended
period of time, and you lookat the difference between what you have to
send in on an annual basis,the interests expense, Right, you got
to send in that to our friendsin Washington, the state of New York.
The multi year guaranteed annuity, youdon't have to. You control the

(31:11):
tax liability. You control the taxliability, right, you like that?
What's the old Will Rogers phrase?For the old timers that are out there?
Who the hell's Will Rogers? Youknow, the young people? Who's
Will Rogers? What did Will Rogerssay? I'm aging myself here and now

(31:37):
I'm not so much interested in thereturn on my money as i am in
the return of my money. That'swhat that's a quote by Will Rogers.
I'm not so much interested in thereturn on my money as I am in
the return of my money. Well, guess what folks. The guarantees are
out there right now, So gettyup, getty up and go if you're

(32:00):
looking for guarantees. Now, ifyou buy bonds with guarantees, they're gonna
fluctuate in value. Right. Youbuy treasuries until they make sure you buy
a treasury, you buy them ata discount to the value that it's going
to be at in the future.Right, that's how you buy them.
So you're gonna get some fluctuation,either positive or negative, depending how long

(32:22):
you that hold that security for,but you're guaranteed to get your principal and
interest. Right, you can buythem and qualified non qualified. I'm a
big believer right now because they've beenkicked in the teeth. I always like
to go in the door when they'vebeen kicked in the teeth. You know,
like I told you about Ge right, couldn't have been kicked in the

(32:43):
teeth anymore. But you know,look at that stock over the last twelve
to eighteen months, it's been oneof the best performers ge and I used
to always say, and I stillsay it, do you bet the horse
or you'd bet the jockey. Yeah, that particular stock, I bet the
jockey Larry Culp, because I've figuredwhat he did for danaher if he did
it for Ge, He's going tobe in a great spot in a very

(33:07):
short period of time. And guesswhat, if you're a g shareholder,
you ought to be pretty happy.What's happened over the last twelve months.
Now? Is there a crystal ballfor the future. No, there isn't
a crystal ball on anything. Tellme what horse is gonna win up?
But Saratoga today called Zach will loadup. Nobody's you know, it's all

(33:30):
you're rolling the dice. But withguarantees, you're not rolling the dice.
The only thing that you've got istime. You gotta wait. You gotta
wait for the thing to mature likea treasury, or you gotta wait for
the CD to pay out, orthe multi year guaranteed annuity or corporate bonds.
But we just had a client yesterday. Nico and I were doing a

(33:52):
conference call with him and his wife, wonderful people, and we we told
them that, you know, he'swaiting to the age of seventy to get
his soul security. And then oncehe gets his soul security, she's going
to do the spousal benefit on hisbut at age seventy, he's going to

(34:13):
get his substantial amount of money andsoul security which will allow him to reduce
his distributions off of his IRA,because he's pretty aggressive on his IRA.
And we got talking about the structureof his portfolio and how it's set up
now in order to get the mother'smilk of dividends, right, we need
dividends in order to satisfy what he'strying to take an income off the portfolio.

(34:36):
People don't think that, you know, that's a good idea sometimes because
we're gonna put it all in thestock market and then we'll start liquidating when
we need the money. See,I don't like that. I don't like
that because I've seen that become adisaster for a lot of people simply because
of being a systematic withdrawal. Youbetter be right, You better not be
in a bear market, because youcan be in a whole lot of hurt

(34:57):
in a very short period of time. So we like the cash flow to
be built up before you go outinto retirement. And then we also like
to replenish that bucket right with thedividends that are being paid into the portfolio
and the capital gains on the particularfunds, ETFs, whatever it may be
that we select. Right. Sohe called me and he says, listen,
I you know, at church,I told me about this particular fun

(35:23):
and I said, okay, we'lldo a little research on it. Nico
and I did some research on ityesterday. I did some research on it
last night. And I won't tellyou what the fun is because we just
don't do that on the radio,But if you want to call me and
set up an appointment, i'll sittell me. But this particular fund right

(35:44):
now is paying almost fifteen percent.Fourteen point six eight percent is the yield
on this fund right now. AndI said, wow, there's got to
be a lot of leverage and stufflike that. And what I found out
it's not leverage. It's a privateequity deal. But it's also you know,

(36:04):
I said, well, how longhas this been paying out this kind
of divonend. Well, it's beenpaying it out for a consistent period of
time. But those are what wecall at the Retirement Planning Group yield enhancers.
Should you put all your money intoa bucket like that? Absolutely,
positively not. But if you takesome of your money ten fifteen twenty percent.

(36:30):
And you add in these what wecall yield enhancers on top of the
guarantees that are out there right now, you're looking pretty easy to be somewhere
around eight percent in your portfolio asfar as dividends in cash flow under the
current market conditions. And the eightypercent or the seventy five percent is all

(36:51):
guarantees. Those are all guarantees laddering, you know, multi year guaranteed and
notities, CDs, corporate bonds,gigs, guaranteed contracts. That's a pretty
nice shield. I've been doing along time. I'll take a seven or
an eight handle anytime if that's whatthe markets are given me. And guess

(37:15):
what, folks, that's what themarkets are giving you right now. So
don't be shy to tell your financialadvisor, you know what, I don't
like this roller coaster. My cousin. My cousin's up from Vermont or Vermont.
I'm thinking about Vermont Place up fromFlorida. Ye, see what happens

(37:37):
you don't have enough caffeine in you. My cousin's up from Florida. I'm
his wife, Nancy Rick and Nancyand I had the opportunity to sit with
him on the beach the other dayand we were talking. He was a
little concerned his daughter had to boltback down to Florida because they had a
house not too far from the coast. They had a little bit of damage,

(37:59):
but god bless, they didn't havea lot. And he's saying to
me, Dave, you know what, I don't like this anymore. It's
what are you talking about, Rick? He goes, I don't like the
roller coaster anymore. And I said, what the volatility in the market.
I said, you know, it'sbeen on precedent over the last five years.
The amount of volatility goes yea,And I don't like it, you
know. I I like my financialadvisor. He's a good guy. You

(38:22):
know, we have a good report. But he keeps on saying to me
when we go through this volatility,to stay the course, stay the course.
And well, he's telling you theright thing to do, but he
says, I don't like it.You know. I don't like to wake
up in the morning and see lookat my statement and I'm down thirty thousand
dollars. And I said, Idon't think your financial advisor likes it either.
We don't like it. I cantell you that the retirement planning group.

(38:44):
But you know the only thing thatI can tell my clients is if
you think of history and you goback, time is your friend. And
markets always overreact either plus or minus, and they always come back to the
mean, and you will be rewardedfor your patients. As we've seen this
year. If you stayed in equityright if you bought equities at the beginning

(39:05):
of the year, you're dancing inthe street. Your financial advisor is the
biggest hero that you've ever met.Last year, we were zeros. We
were the stupidest people on Earth.Point of entry is critical, but your
belly is also critical. If youcan't sleep at night and volatility is driving
you crazy, what I'm trying tosay to you this morning is that there's

(39:27):
answers for that right now. There'ssafety and guarantees. Safety and guarantees that
are out there that will lie youto sleep at night and give you the
type of income that is necessary forquality of life. If you want to
sit down with us, we offera complimentary consultation. Give us a buzz

(39:50):
at the office. I know thatwe're extremely busy, but we'll fit it
in our schedule. I'm gonna startworking Saturdays again after the radio show.
I've been doing that for the lastfew years, but I'm going to start
working Saturdays again. You can see. I'll meet you in the office on
Saturday if that's more convenient for you, either in Albany, Malta. I

(40:10):
can't get the Glens Falls and thenone on it and get back here,
but I will meet with you,or I'll have a telephone or a zoom
zoom call meeting. But give usa call at five eight five eight zero
one nine one nine, or checkus out on the web at rpg retire
dot com. We're going to takeour break, We're going to be back.
We have open lines if you'd liketo participate one eight hundred Talk WGY

(40:32):
you have any questions or comments.One eight hundred Talk to WGY one eight
hundred and eighty two, five fiftynine forty nine. We'll be right back.
The eighty six percenters. Do youknow that eighty six percent of the
population has no defined benefit pension plan? For most of us, we have
to take our life savings and createa paycheck for the rest of our lives
in retirement. What is your planfor retirement income distribution. How will you

(40:55):
manage your assets during the most criticalyears of your lifetime. Well Prize winning
economist William Sharp has called retirement incomedistribution the nastiest, hardest problem in finance.
He points out that investment, uncertaintyand mortality can derail the most careful
laid out retirement income plan. Callour offices today to start the process of

(41:15):
building your retirement income distribution plan.After forty one years of being in the
financial services business, you need tostart taking action to start building your own
personal retirement income distribution plan. Howdo you do that? To take action?
Five one eight five eight zero onenine one nine. That's five one
eight five eight zero one nine onenine or RPG retire on the web.

(41:37):
Don't procrastinate, motivate to start buildingyour retirement income distribution plan five one eight
five eight zero one nine one nine. If you have any questions, please
call in now at one eight hundredeight two five fifty nine forty nine.
That's one eight hundred talk WGY,one eight hundred talk WGY. We are
live in studio to answer your questions. Love is a curious thing. Make

(42:10):
a one man, we make anotherman, say change your heart, doing
it away, dough bothering the feeling. That's power of love for the diamonds,
freaks like cream, Stronger and heartthan a bad girl's dream, make

(42:35):
a bad one good your own raderpower love, keep you home in mind.
We don't need money, don't takefame, do need a credit card?
Ride in this train. It's timeand a sudden man's ring sometimes,
but it may see your eyes,that's all right. Power of Look.

(43:10):
I had that cassette. I justwon't let you know. Cassette. You
know what a cassette is. Thatwas a big deal. We went from
eight tracks to cassettes, cassettes toCDs. Now it's everything's wireless, right,
just plug it in. Julie Lewis, it's got to be the nineties.

(43:34):
I think nineties. Yeah, Ithink it's the nineties somewhere in there.
Oh my god, you know Istarted the show today. I still
you know. I said to mywife yesterday, my beautiful bride wife,

(43:55):
if you had told me twenty yearsago some of the events that would have
happened, I would have said,you're nuts. And I think the older
you get, the more you reflecton events that have an impact on your

(44:15):
life and the people that have animpact on your life and the people that
have come and gone, and thething that's sad to me. And I
try to relate this to people whenthey come in to the office. Sometimes
Nicko and the rest of the gamethinks I'm a little bit too in their
face aggressive, But what I tryto relate is that life is going to

(44:39):
throw you a lot of curveballs.You know, there's the screaming monkeys,
and there's all the people out therethat got all the answers on Monday morning,
the Monday Morning quarterbacks, or theguy by the water cooler. But
the bottom line is is that afterdoing it for forty one years now going

(45:01):
on my forty second, I knowone thing for sure, and that is
retirement should not be a time forstress and anxiety because no one knows how
long of a yardstick that we havefor our retirement years. And when I

(45:25):
made that phone call yesterday to callKylleen and there was no answer, no
ring, and then I found outby searching the internet that she had died
in July, it was like aknife went into my back. It was

(45:50):
a total shock. Here's a woman, and I won't mention her last name
or her family. But here's awoman that was very involved in her community,
great businesswoman, phenomenal personality, wasfriend, broke bread with her and
known her for fifty years. Fiftyfifty years, healthy as a horse than

(46:16):
Boom. So the unthinkable is thinkable. And when people say to me,
how soon should I button this up? And how quick should I get this
done yesterday? I mean, I'vehad too many events in my life personally,

(46:40):
and I've also had too many eventsas a financial professional with clients that
I realized that procrastination is not yourfriend, not your friend. I tell
the story all the time about mywife when I came home one day from
doing the radio and she goes,you're full, you know what, it's

(47:05):
a good seeing you tune dear.She goes, you're the cobbler's son.
You're telling everybody to button it upand do this and do that and get
their life in order. And westill don't have one hundred percent of our
life in order, you know what. She was absolutely one percent right,
And I couldn't sit there and sayto her, you know, but the
dynamics of my family, you know, I have a child by a first

(47:28):
marriage, and I was trying towork my way through it as far as
something happens to both Julie and I. How do I settle my state?
What do I do? You knowwhat you know? How do I break
things up? And when should thekids get I mean, it's it is
a daunting task at sometimes. Youknow, accumulation is fun, but you
know, preservation and distribution sometimes isn'tfun. Trying to figure out what do

(47:51):
you do with this wealth that you'vecreated over your lifetime and how does it
go to your kids and how doesit help them and how you know your
future grandchildren? And I said,you know what, You're right. So
three years ago we buttoned everything up. Julie and I we do all of
our state planning. Now we havea plan in place. We're going to

(48:15):
probably tweak it a little bit,but you know that's okay, we'll tweak
it a little bit. But thebottom line gets down to is that my
question for you today, the peoplethat are listening, what's your plan?
What is your plan? And doyou have things buttoned up? You have

(48:38):
a former wife, you have pensionbenefits, you have children by a first
marriage, you have a new wife, you have moneies, that you've accumulated.
What happens to those moneys that you'veaccumulated. Does it go to your
second wife? Is there a wayto get some assets to your kids so

(49:00):
your kids aren't getting the money whenthey're sixty and seventy years old, Because
if your new wife lives to bein our nineties or one hundred, which
we're seeing, your kids aren't goingto appreciate that they're sitting there in the
rocking chair and they're getting your wealth. If it's ira assets, they might
not get it because the required minimumdistribution, the acceleration of distributions that have

(49:21):
to come off those accounts. It'sa daunting task. Right listen to this.
It doesn't get any easier. Itgets harder when you lose a spouse.
When you lose a spouse, itbecomes more complicated because there's less things
that can be done. At theretirement planning group. We probably spend fifty
percent of our time now on astate planning fifty percent, and it's conversations.

(49:52):
Sometimes the conversations have to be donewith one of the spouses and then
we bring the other one in,or we do it individually and then we
bring them together. But you're gettinginto the fall. September is here,
the rubber hits the road on Tuesday. What you ought to do is set

(50:14):
a goal and say, listen,we need to go in and talk to
Dave and the team. We needto sit down with the retirement planning group.
We need to button things up,we need to do a trust,
we need to do long term whateverit may be. But sitting on the
fence and waiting for the fire tostart not good. Not good. I
know it because I've been doing itfor a long long time. And if

(50:37):
you think it's just about the money, it ain't just about the money.
It's about all the other stuff.The properties, the camp on Lake George,
the properties in Lake George have skyrocketed. Well. It used to be
four hundred thousand dollars is now amillion. We used to be a million,
is now three or four or fivemillion. It's crazy what's going on

(50:59):
up there. Crazy the values ofhomes in Lake George. That becomes very
complicated for kids. Believe me whenI say that. But we're gonna be
back. We're gonna top the hourhere. If you would like to participate,
we're gonna have open lines when wecome back. This is a retirement
planning show. I'm Dave Kopek.Give us a call at my office if

(51:20):
we can be of assistants five oneeight five eight zero one nine one nine.
Check us out on the web atRPG retire dot com. God bless,
we'll be right back. Welcome tothe Retirement Planning Show with host Dave
Kopak. In the financial services businessfor over thirty five years. Their Retirement
Planning Group LLLC is a registered investmentadvisor. David M. Kopak is also

(51:44):
a registered representative of perish kaplan SterlingInvestments Incorporated PKS in their separate capacities.
A registered representative of PKS, DavidM. Copeck may recommend the implementation of
securities through PKS instead of Retirement PlanningGroup LLC, First CAPITALIC Sterrgling Investments in
Retirement Planning Group l LC are notaffiliated companies. Now it's time for the

(52:06):
Retirement Planning Show on w g Y. Somebody won't an ever and someboday castled
by. I'll be working in theriver at least the dinner die. Damned

(52:28):
if you do. Damn, it'scon don't. I'm supposed to get a
risk as we can do that whenI won't working Father Lena Dragon? What
Father Vagon? But working, I'mtaking what they're given. Couse, I'm
working for a lever. He I'mmy completer, cause really need to work.

(52:54):
But in my body's got defeated,like a journey, but a dollar
conduct ready. I can't take aFriday, but it's already sad. I'm
taking what they're given because I'm workingfor it. Oh yeah, I'm working

(53:17):
for a living. People say tome all the time, how much longer
are you gonna do this? ForDave, I hear it all the time,
how much longer are you gonna work? And I say this, I

(53:39):
stink at golf. I can onlybake on the beach so long. I
like vacations, but I get boredafter you know a certain amount of time.
But my wife and I are goingto start traveling. But I'm not

(54:00):
going to retire. I'm not goingto retire. I don't want to retire.
I enjoy too much. I enjoyour clients. I love my clients.
Clients become family. We're gonna havea Christmas party. I think we're
gonna have like three hundred and fiftypeople to shore at our Christmas party.
It's just, you know, youbuild a bond with these people. It's

(54:22):
been very difficult over the last fewyears because we've lost a lot of clients
to death, and when that happens, it's very difficult. And I must
say that Lisa spends quite a bitof time with our clients because she's the
operations manager and she handles a lotof the you know, where's the dividends,

(54:45):
what's going on with this, what'sgoing on with that? But the
thing is is that I know it'svery difficult. It's difficult for the whole
team. I can't just point outLisa, because I know Lisa gets very
emotional when we do we have aperson pass away. But why am I
bringing this up? Because when youwork with a team, a lot of

(55:05):
people think, well, you knowhow long we work with people? Sometimes
twenty thirty years? Twenty thirty years. I mean, you think about it
when you go on out you're atYou're fortunate you're retiring. Let's say it's
sixty. You know you got atleast today's health if you're taking care of
yourself, twenty five thirty years ata minimum. So you want to make
sure that you're getting the right mix. You know, like I said,

(55:29):
the old Will Rogers, that's somuch interested in the return on my money
as a return of my money.You got to make sure that you're allocating
properly. We were in a veryvery very difficult environment over the last couple
of years because of the low interestrates. Historically, low interest rates go

(55:53):
to the bank to give you nothing. You buy a treasury, you buy
it. You're buying them at adiscount. You weren't even getting your money
back your principal. Right. Therewas such a premium on the bonds.
All they wanted was safety, safety, safety, safety, safety, safety,
safety. I don't care about theinterest. I just want to guarantees

(56:15):
and safety. Remember those days.Now everybody's we know, jeez, I'm
only up eight nine percent. What'sgoing on here? It's really you know,
last year you're jumping off the busbecause oh my god, you know
things are so bad this year.How coming I don't have more stock in
my portfolio? What's going on here? Well, you told me last year

(56:36):
you didn't want any more stock inyour portfolio. Now you got the recipe
right now, you got you know, you got the juice, right,
You got the juice. It's ohyeah, load me up. Oh you
missed it. You know we're upthirty forty percent. Now you want to
go in. Now we're ready fora correction. Now you want to time
it again? Right, we'll getme back in. It's Jesus. That's

(57:00):
the world that we live in asfinancial advisors. I've asked my friend.
I got him out of better earlytoday. I know he you know,
he was somewhere in the world.I got dry yellow on the line because
I want to talk about all thisnegative I'm hearing about real estate and commercial
throughout this country. Where are youphysically located? I'm I'm I figured you'd

(57:27):
be in the Hamptons, you know, with one of your rich friends.
You're the only You're the only guywho knows hangs around with people that have
their own private jets. Must benice. I'm hoping to pick up the
scraps that fall out of their pockets. Maybe where you going? I'm going
skiing? AskMen? Oh geez,that's nice. Would you do plan a
trip? Na, My buddy's pickingme up in his jet. We're going

(57:50):
out. Introduced me to you know, right? Amen? Brother, Amen,
tell tell everything for the people thatare listening, all three of them
because it's Labor Day weekend. Tellthem who and what you are. I
am a branch manager in Clifton Parkfor Fairway Independent Mortgage, which is a

(58:14):
nationwide mortgage bank, and I thinkwe just got ranked number six in the
country as a whole, so we'relicensed in all fifty states. We do
forward mortgages, reverse mortgages, anythingregarding residential real estate property one to four
units. So when I've been doingit now, I think I think in

(58:37):
January it will be twenty nine years. I started in nineteen ninety five,
so crazy. I'm the old man. I'm the old man of the sea.
I've been doing this for forty oneyears. If you can believe that,
Holy Christmas, unbelievable. I'm starting, though, Yeah, I'm starting.
I told you a long time.I'm tolding Julia that I'm going on
a I talked to you last weeka couple of texts messages. You said

(59:00):
you're getting yourself into a really goodworkout routine. Are you staying consistent?
Are you still doing it? Itold my son the other day, I
got to get through Labor Day weekendbecause I can't. I know, I
know that I'm not going to begood because we have a picnic on the
beach on Sunday with family and friends, so I want to enjoy that day.

(59:22):
But starting Monday, I'm going onmy diet and I'm going to start
working out every morning. I promisedJulie. Every morning I'm going to the
y and I'm working out. Well, I would say, and I am
sticking to it. I've been runningfour days a week, working out twice
a week, so six days.But just try not to over I guess

(59:45):
overdo it in the sense make attainablegoals right. Every single day is hard
to is hard to adhere by right, So you can do it like three
days a week and four days aweek, five days a week about three
food. Listen to you know Brianmay can't right. Brian's my a friend
who's the attorn. He was thebest man on our wedding. And this

(01:00:07):
is a real quick, funny storythat listeners will get a kick out of
this. Then we'll start talking somebusiness. But about three or four years
ago, I said I'm gonna startjogging agains. You better be careful,
you know. So you know Iwent out. I told you they listen,
I'm gonna go for a run.I'm gonna walk, then I'll run.
So I got about three quarters ofthe way up the hill by my
house, I felt like I pulleda hamstring or something. So I had

(01:00:31):
my cell phone with me. Ihad my cell phone with me. I
called Julius and Jeez, like,any walk and I'm playing on the ground
up here, And I said,she comes up, she goes. So
what do you want me to do? I said, go down and get
the wheelbarrel. Go get the mill, Bril, get the golf, come
get me. So that's a joke. It's a joke. Now like when
Brian hears that I'm gonna start workingout, he says, where's the wheel

(01:00:53):
barrel? Make sure that they areon the tire, but maybe two tires?
Yeah, three? I got theWilburrow with three tires on it.
All right, So what's going on? What's going on? Drew? Because
it's I hear there's doom and gloomout there on the real estate nationwide.
But you're telling me every time Italked to you, the Capital District region

(01:01:15):
is different. Yeah, you know, I think I think a lot has
to do with the media. Theyif it bleeds it reads, so unfortunately,
any negative report or any slightly negativereport they like to jump on,
at least with with residential. Ican't comment too much on commercial because I'm

(01:01:36):
not that well versed on that end. But on the residential side, it's
still really tight. Market. Housesgo on the market, they're gone in
a few days. Multiple offers isconsistent. I've had a lady she finally
got an offer accepted yesterday. She'sbeen looking since before COVID and finally got

(01:01:57):
a house that she wasn't outbit on. Unbelievable. So so even though I
think and hope we peaked last weekat rates, we're up in the mid
sevens. Ever since then, rateshave been steadily coming down. I hope
the trend is more pronounced now downwardon on rates, and not that we

(01:02:21):
need it in the sense, youknow, the market still robust, even
with the elevated interest rates. There'sstill a lot of buyer demand out there.
There's still very little supply. Ithink we're actually about fifteen percent lower
than where we were last year interms of supply or inventory. So it's
it's still very tight. And thenobviously it's it's like a catch twenty two.

(01:02:44):
If rates come down and more peoplecome into the market, there may
be less supply that or less inventoryin the market could be even tighter.
The only saving grace maybe is thatif rates do come down SI snificantly,
say to you four and a halfor five percent in the next year,

(01:03:04):
it might make people that REFI twothree years ago, they have a three
percent interest rate. It might makethem put their house on the market because
they can maybe swallow all right,I had a three percent. Now my
new rate will be five percent.I can deal with that because I have
two hundred thousand dollars in equity inmy house. So it could help supply,

(01:03:28):
But it's I don't think the supplyand demand thing gets fixed anytime soon.
That that's the biggest issue right now. And they have this enormous generation
coming through the pipeline, and youknow, they're you know, twenty five
to say forty four, and they'regoing to continue to buy. You know,
we all know what happens when you'rein your twenties and thirties and early

(01:03:50):
forties and you're buying houses, you'regetting married, you're thrown down roots with
children and things like that. Sothat's just a massive, massive generation that's
going to have a lot of buyingover the next several years. Doesn't even
peak for another three years. Soso yeah, regardless, I think of
what the media says, it's it'sstill a tight, tight I guess real

(01:04:14):
estate market out there. I thoughtwe'd have maybe three or four percent appreciation
this year. I think we're alreadyat five or six for the year with
you know, four months, threemonths left to go. So I just
I just I just sat on theradio before you came on. The prices
of real estate in Lake George.Like the condos on the hill behind me,

(01:04:35):
the condos on the hill a fewyears ago, you could buy them
for five six hundred thousand dollars.Now they're a million plus, one million
plus the antlers. Those condos aregorgeous. You know, they're beautiful.
Did a wonderful job. They're twomillion plus now. You could have bought
them for a million one, amillion two a few years ago. I

(01:04:57):
remember when they first were out someyears ago, was that they were about
six exactly right, that's exactly right. Every ten years ago, Holmes are
selling them for astronomical figures up andlike George crazy, just like crazy money.
You put a price tag on it, you know, like I don't
want to sell it, and they'reselling them, and they're selling them.
Yeah, and I had, Ihad. I had a friend buy something

(01:05:21):
in Saratoga, A guy from fromBoston bought this thing, and uh,
I don't know. A month later, realized that I don't want to deal
with this. He puts it onthe market. Uh. A friend of
mine buys it for half a milliondollars more a month later, and then
some some rich international person bids itup another two fifty. Yeah, that's

(01:05:45):
crazy. Uh, you know,and that Sarahtoga even like George. So
it's just it's just I think,I think what what COVID maybe did is
really put and we've probably talked aboutthis a million times, a bigger and
bigger wedge between the have and havenots, you know, the wealth I
think on the upper side. It'sjust there's just they made so much money

(01:06:06):
over the last several years that Ijust almost don't know where to put it.
So they're putting in a real estate. There's a guy that lives next
to me in Lake George right now, we'll mention his name, but he's
in the investment banking business. Andhe had a chat with him the other
day down on the beach. Hewas getting on his boat and we're just

(01:06:27):
having a chat like how we're thingsand blah blah blah. And I said,
are you still going back and fortha lot? He goes, No,
matter of fact, Dave, I'mnot going back and forth. Let
he says. What I found outsince this COVID is that I now spend
probably eighty to ninety percent of mytime here in Lake George. I only
go back when I physically have togo back to the offices in Manhattan.

(01:06:47):
But with zoom and technology, hegoes, you go in my office,
it's no different than my office inNew York City. He goes, I
have, except you know, Igot the spectacular review of like George quality
of life, and I have toworry about, you know, the travel
back and forth and congestion and thestress. And he goes, you know,
I'm doing more business now and I'mactually in a spot that I feel

(01:07:11):
like I'm you know, I wakeup every morning in heaven. All right,
all right, it's invigorating. Yeah, the sunlight is huge in terms
of getting that in your body orDNA in the morning. So it's a
whole different it's a whole different worldwhen you can do that. And the
same thing. I actually talked toa financial advisor yesterday. He's six months

(01:07:32):
out of the year in Mexico.He really loves it there so much.
He's building a house down there.Wow. And he's in with the locals
and that's probably where he'll retire.I actually know the I actually know the
guy you're talking about. Yeah,it's is he uh, And no one
knows the different and the same thing, Like you have a computer screen,

(01:07:53):
doesn't matter if you're in if you'rein Albany, or if you're in Mexico,
as long as you have internet,WiFi or heath and net. Just
like it really doesn't matter. Youcan do your job from anybody. So
I hon't see. You got tomeet with people face to face. Everybody
likes to touchy feely stuff, butthat's that's not that often. We got
a gentleman right now. He's justrecently married. He's thinking about relocating out

(01:08:15):
of the Capital District region. He'sgot about a year year and a half
left Drew before he's going to pullthe plug. And he said to me,
what should I do? Should Isell now? Should I wait?
You know, you know, withwith these interest rates going up the way
that they have, you know,well, I have a lot of buyers
at my doorstep. And I said, from what I've heard, from what
my friend Talls tells me, youknow, you're going to have people that

(01:08:40):
will be biting at the bit.He's got a beautiful home in Latham,
the Latham area, and I'm saying, and I'm saying to him, I
said, I don't think you're gonnahave a problem selling the house. He's
over in Riviera, States, whichis a beautiful neighborhood. The thing is
is that but he's thinking, youknow, I'm gonna take the money and
run and I'll rent for a yearyear and a half. That makes sense,

(01:09:01):
it, I mean, he whetherhe sells it now or a year
from now, I don't think it'llmake a difference. He'll probably get.
You know, the more longer hewaits, the more he'll get. But
it might be you know, adifference of five to ten percent. I
think difference, so depending on whatthe house is worth. But yeah,
don't I don't say. I thinkI think in the next year, interest

(01:09:25):
rates on mortgages will come down,So a lot of the people on the
sidelines will come into the market thatmaybe our sidelined right now because they want
to wait, and it could geteven more intense in terms of demand and
supply. So if he sells ittoday or sells it a year from now,
he's still going to do very well. He might do better a year
from now. But but that's that'sthat's if this plays out with interest rates,

(01:09:49):
because you're starting to see and Ithink the Fed has been waiting.
You know, they wanted to workon inflation. I think they did that
right. We're at nine point onenow or about three. Look at the
PC, look at the core rates, look at the CPI, PPI.
Inflations come down dramatically, but they'restill talking about bumping. You know,

(01:10:09):
Jerome Powell's on Jackson Hole. Itwas out in Jackson Hole last week to
the week before, and he stillsays, you know, we may have
to do further bumps. And sowhat I think he's telegraphic or telling us
is that he's really waiting for thelabor market to cool off or to loosen
up. And I think based onyesterday's job jobs report, I think we're

(01:10:31):
there. I think this this,this is the beginning of a slippery slope
that I think that's what they want, where we're starting to see people on
unemployment benefits longer. You know,the continuing claims number seems to get bigger
and bigger, meaning people get laidoff or fired, what have you.

(01:10:51):
They're on unemployment with the basic benefitsand then they go to the extended benefits
they can't get off that. We'relooking at the Jolts report, which has
a lot less job openings. Ithink that a year ago, and you're
looking at you know, now we'relooking I think the three month average I

(01:11:11):
read this correctly this morning three monthpayroll average one hundred and fifty thousand new
jobs, the six month average onehundred and ninety four thousand, the twelve
month average two fifty seven and lastyear twenty twenty two we averaged almost four
hundred thousand new jobs. So we'reseeing a market decline in the amount of

(01:11:33):
new jobs. Yeah. The laborfirst participation tick tire too. Yeah,
well, I think that's it's likeit's it's the lot highest levels since posts
pandemic. Eric, you know,we're talking stuff that people really don't even
care about really, at least Idon't think they care about it. But
it means a lot in regards towhat's going to happen out there with interest

(01:11:54):
rates and interest rates, believe itor not. You know, the market,
the stock market was down in August, which is, you know,
not unprecedented because August is usually thetime that a lot of your portfolio managers
are hanging out with you in theHamptons. But the U but the bottom,
the bottom. But no, youknow, just telling the truth here.

(01:12:15):
You know, you know, oneof these days you'll invite me into
that crowd. But you know,I'm still I'm still, I'm still waiting.
You know, here's my farmer friendfrom Scatti Cooke. What's the scatty?
Is that a new country? Thatcountry somewhere? Yeah, maybe they
was a man of biotic But tomake a long story short, you know,

(01:12:43):
the thing is is that we areticking. I agree with you.
We are ticking in the right direction. We're are Unemployment went up to three
point eight from three point five.Yeah, we're pretty much on target.
It came at one eighty seven.They wanted one hundred and seventy thousand as
far as the uh non farm payroll. But uh, you know, we're
getting pretty close to that two percentnumber. You know, I know that

(01:13:05):
they say that three. We're aroundthree, you know, ballpark right now?
Three? What is it about itfor three point two percent or something
like that? They want to bedown to two? You know, we're
getting there, We're getting there.There, We're getting there, especially if
you take out the which I guessthey look at the the costs of uh

(01:13:25):
not housing. I forget the term, but I'll come up with it.
It's a very it's a big laggingI guess indu cy. And if you
look at current shelter costs, that'swhat it's. Shelter off the big part
of the CPI and PPI. Ifyou take that, if you take that
out or not even take it out. I shouldn't say take it out,
but it use current statistics on that. Inflation is a little over two percent,

(01:13:49):
about two point two two point four. But they're still looking at like
the twelve month average is that's howthey calculate that number. And so the
FED, I think, is donewhat they want and now they're now it
feels like they're waiting for employment toloosen up. And be less tight.
And I feel like after yesterday,we're seeing that. So do they pause

(01:14:12):
in September? Yeah, I thinkI gotta believe they do. Yeah,
I think they do. Right.I think the wording will be we're pausing,
but it's going to be dependent onthe data. Data dependent. Yes,
that that will be the key,you know. If that's if you
hear that that they're pausing and it'sdata dependent, I think the market takes
off like a rocket. I thinkit's your interest rates will start dropping like
a stone too. Yeah, becausethey I mean you look into that report,

(01:14:35):
a lot of those like you lookat the labor force participation. Thank
god, right, seven hundred andsixty eight thousand more people came into labor
market. That's what we need.You know, all the stimulus money,
all that's been evaporated out of theeconomy. We have you know, mid
to upper fours for gasoline, energycosts, food cost you name it.

(01:14:58):
Everything's more expensive going out to dinner, more expense, you name it,
food, grocery stores. So peoplein that report, you could tell a
lot of those job creations were secondand third jobs. Sure, not primary
jobs, because they're having a hardtime trying to make ends meet. And
then there's a whole another factor thatwe're not even seeing. It's not publicized,
like the quiet layoffs. They callit. Big companies like Adobe,

(01:15:21):
Adidas. They're saying huge companies thatare they're saying to their employees, hey,
guess what if you take this otherposition at lesser income, you could
stay on board. Otherwise we haveto let you go. Right, that's
not publicized, and but we're seeingthat to the hundreds of thousands throughout the

(01:15:42):
country right now. I mean,ask your question, Drew, there's a
trillion dollars in credit card debt rightnow, first time in his one trillion
dollars in excess now and it's goingup. It's not going down or staying
flat. You know, I toldtalked to this morning about the guy from
Stuarts that says he sees more andmore people coming in with you know,
change there. They're counting they're changedto buy the stuff that they want at

(01:16:04):
Stewarts, which is kind of yeah. Yeah, But are you starting to
see people are coming in that haveextensive amount of credit card debt that want
to redo refies and all that.Yes, yeah, So it's it's it's
a decision that they're starting to make, and people do come because there residants
orbited amount of credit card out there. So the good news is they have

(01:16:27):
a crazy amount of equity in theirhouse. So kind of like the we
talked about what the person that wantsto sell and doesn't know what to do
because the higher interest rates. Samething with the refinances, where right now
is a great time not refinance becausewe got a break in about we got
a break in about forty seconds here. You're going to stick around, yeah,

(01:16:47):
for a few minutes. I'll stickaround because what I want to do
is I want to get into thisa little bit because it really bothers me.
I I personally hate credit cards.I hate them. I mean I
can't. I have to live withthem because they're part of our business cycle
what we have to do. Butfor individuals that are out there that have
high credit card debt and they're notdoing anything about it. When we come

(01:17:10):
back, I'm gonna have Drew specificallytalk to you about what you can do
in order to make your life sane, not insane, because it will dry.
It will. I've been there.I know what it's like to be
flipping credit cards in order to paybills when I started my business. But
we'll be right back after the news. Dry All is going to stick around.
We'll see on the other side.I can't be any game. I

(01:17:47):
just food around. Understands him tobe Claire all right, it's him to

(01:18:14):
be square. That's why we invitedDrue Yellow, great squarest guy in the
Capital District region. And here heis, Saga, Morn and Drew.
Come on, have you ever lookedin the mirror, looked at your buckethead?
Come on, Frankie Dyer called me. Frankie Dyer calls me Fred Flintstone.

(01:18:42):
That's a good one. Yeah.When his when he when when his
phone rings, Mary says, whothe hell's that? It says, He
goes, it's Dave Gobeck. Igot it. I got my phone and
phone. He's got me as Fred, I got him in. I got
him as the skill. Oh that'sgreat, that's great. You gotta laugh

(01:19:03):
a minute. Listen in all series. You know, I want to get
back into this because I see itall the time, and it's to me,
it's horrific. I've had family memberscome to me to borrow money and
stuff because they've been in a situationwhere they've had too much credit card debt.
It's a disease. And I don'tknow how this country allows people to

(01:19:25):
charge. I mean, I've seencredit card rates as high as twenty nine
percent the average right the average rightnow is about twenty one, it's twenty
point eight at a trillion dollars.These credit card companies are printing money off
the backs of people that can't affordto pay these high interest rates because they're

(01:19:45):
trying to pay their damn bills,healthcare, but gas in the car.
To me, it's a it's anational sin what these credit cards are doing.
How do they fix it through?How do they fix it? Well,
it's funny you bring this up todaybecause you know you and I really
don't script anything, just talk andand the the uh. The last I

(01:20:08):
would say week and a half tendays. I did your show a couple
of weeks ago, did you wereYou're at the golf tournament, and we
talked a lot about reverse mortgages.We had our reverse mortgage specialists come on
for fifteen minutes during that out thattwo hour show I did. And I've
talked to I think three of yourpeople listeners that are in the sixties,

(01:20:31):
ask about reverse mortgage because of thatspecific reason. You know, they have
a house. One guy I onlyhad an eighty thousand dollars whole equit,
a lot of credit on it,and needs to make some improvements, needs
needs to absorb some credit card debt, and really doesn't really have a pension
or a retirement strategy, you know, working some jobs, has a little

(01:20:53):
solid security income, but that's it. So you know, in his in
his own words, I'm just goingto work until until I drop. So
we're working on strategies to help eitherwith a reverse mortgage or a forward mortgage,
depending on the circumstances, just becausewe have a ton of equity in
our houses right now, and it'snot maybe the ideal situation, but what's

(01:21:16):
the alternative, Right, Either you'regoing to go bankrupt or they take the
house away off the cards, right, they take the house away from you
because you can't pay your bills.There's alternatives. So we can do a
first mortgage cash out refinanced, wecan do a whole equi line of credit,
we can do a reverse mortgage,depending on the circumstances. Just have

(01:21:39):
to get your hands around the situation. Because like you said, you know
the prime rates at eight and ahalf percent, and they're tacking on another
twelve fifteen percent margin on top ofthat for interest expense on those credit cards.
You're right. You're in the twentiesand you literally literally can never pay
that off. It's more than thirtyyears if you're making the minimum payments on

(01:22:01):
those credit cards. So you haveto make you have to look at your
alternatives, and thank god, there'sa ton of equity in our houses right
now that can help absorb that creditcard debt and get your hands around it.
Just deal with it for now,refinance, absorb the credit card debt,
and then in a year from now, if rates do go down to

(01:22:24):
four and a half five percent,five and a half percent, you'll be
able to refinance and lower those paymentseven more. So, take advantage,
I guess of the equity. Ifyou're in that position where you own a
home and you're not maxed out thatyou can absorb. You can go up
to about seventy five eighty percent ona first mortgage. On a reverse mortgage,

(01:22:45):
you can go up to about fortyfive to fifty percent on an equity
position. To take advantage of thatand on a reverse mortgage, which is
I've sent out three of those packetsthat I dropped off of your office a
few weeks ago informational package. Theyyou know, if you get a line
of credit to make home improvements whoabsorb credit card debt. The line of

(01:23:09):
credit on a reverse mortgage grows everyyear by current interest rates. It doesn't
just stay at a certain level.So even though rates are high, it
kind of helps you in a bitbecause you're going to get growth on that
line of credit each and every year. So it hurts you a little bit
because there maybe only lets you getforty five fifty percent of the value of

(01:23:30):
your house because of interest rates,but also helps you on the line of
credit side because you get growth onthat line of credit every year. So
talk to a gentlemen, I thinkit was yesterday, who wants to play
in your golf tournament? By theway, you got some free spots you
got you got some spots with yourtwo foursomes. Yeah, yeah, you're

(01:23:55):
doing two. You're doing two thisyear because all this free promo I get
for you too. I did dothe highest sponsorship that was on that was
on the level that was a surprise. I was going to show that to
you later twenty eight, right Septembertwenty eight, Swing for a cure,
Yeah for cancer. Yeah, soso yeah, this guy is a great

(01:24:19):
house, great property. He's gotsome equity and it needs a lot of
work, needs new needs a newroof. He's got to pay some consolidate
some credit cards. So we're goingto try to do something for him on
the reverse side, just so hedoesn't have to create another monthly payment for
himself. So just eliminating the paymenton his home mac a lot of credit
might help. So really good stuff. And he's got a friend that's in

(01:24:42):
dire straits that needs some help.I haven't talked to him yet, but
same thing, having a hard timepaying the taxes. The credit card debts
swallowed him up. So hopefully wehave some good some good scenarios to talk
about over the next few weeks,depending on how those goes. How So
you and I I the one Ialways talk about is the guy that sends

(01:25:03):
me the Christmas card every year andbasically says how the reverse mortgage saved his
life and gave him quality of lifeby tapping into the equity. And you
did that to him, you know, a few years back, so you
know, uh, you know,you know, I'm a big believer.
Don't don't listen to the screaming monkeysor the people that have all the answers,

(01:25:25):
because there's been a lot of negativepress on reverse mortgages, and there
should be because they and historically they'vethey've not done well for some people.
But don't throw the baby out withthe bathwater. Don't make an assumption on
something that you know nothing about,because we have a lot of people on
radio and TV that are making commentsabout things that they know nothing about.

(01:25:46):
And all I say, over andover again, there's nothing in it for
the retirement planning group in order forus to refer people to you as far
as to look at the reverse mortgageif it's a suitable type of you know,
safety net. And that's why Ilook at it. You and I
you said something one time that's stuckin my mind. It's a tool in
the toolbox. You can either takeit out or you can leave it there.

(01:26:09):
It's your decision, right right,that's all. It is, just
a financial tool to get you frompoint eight point B. And you always
say it's not for everybody, butit's worth exploring because the safeguards they put
in place versus ten fifteen years agoare dramatic. Now, we used to
be able to lend up to seventyfive eighty percent of value, and yes,

(01:26:31):
with negative amorization and with people livinglonger, you know, people were
upside down on their properties. Nowit's forty five fifty percent of the value.
So the chances of ever having anegative equity position are being upside down
or slim and none. So theyput a lot of safeguards in place,
and I think a lot of peopleare also. It's just like a regular

(01:26:57):
mortgage. Like a lot of peoplestill think it's the bank keeps the house,
or the it's the bank's house,or it's not. It's just your
house. It's like your mortgage onyour house, God forbid. Something happens
to you, family gets the house, you sell it, you pay off
the note, and you keep therest. Same thing with reverse. Yeah,
something happens to you, sell thehouse, you pay off whatever is

(01:27:18):
ode, and your family gets therest. It's just like a regular mortgage.
It's just one. You make paymentsin one you don't make payments.
Yeah, it's basically the difference,you know, The thing is is that
if you're paying thousands of dollars ayear for credit cards and you're in a
situation where it's becoming, you know, unattainable for you to pay down the

(01:27:41):
principle what you've got on those cards, which I've seen. I had a
woman that came in. She hadone hundred and fifty thousand dollars in credit
cards. She kept on flipping andflopping, and she was basically driving herself
insane, and her husband had noidea. And I told her, I
said, listen, I don't havea magic wand I can't fix this.
You're gonna have to sit down withyour hub and come on back and we'll
sit down and try to figure outa game plan here. I never heard

(01:28:04):
from her again. You know,I don't know what happened, but I
know what it does to people.And I've seen the stress and the anxiety
on their face. I remember Julieand I when we're building out the business.
You know, we used to lookat one another and just say,
you know, we better be rightbecause this is turning into a snowball that
I don't like. And you know, when you've walked the walk, you
can talk to talk and I'm out. You know, I say this to

(01:28:25):
people. What happens if you donothing well, it gets worse. At
least motivate and sit down with Drewand find out is there a plan in
order for you eliminate those damn thingsfrom your life and then cut them up
and cut them up and throw themaway, all right, And if something
doesn't work with me, there's there'sa ton of services out there that can

(01:28:46):
help get your hands around that sothat it's not dire straits. There's always
answers, there's always solutions. Itshouldn't be in despair or just need to
like you said, just need totake action. You know, during the
financial christ as I remember from twothousand and eight, two thousand and nine,
when you had, you know,massive inventory of houses that couldn't sell,
You had depreciating values and real estatepeople are behind on their mortgages.

(01:29:14):
The worst thing you can do issit in a corner and do nothing right.
And I was always encouraging people.If I couldn't help them, you
still have to reach out to yourmortgage company and at least talk to them
and figure out a plan. Thesame thing with what you're talking about,
you just have to do something,because once you take that first step,
I think the stress even just talkingabout it, I think the stress goes

(01:29:36):
away and you have a plan,try to figure something out. There's always
solutions. So so whether it's me, you, or some other party,
So you take a twenty percent.You know, they showed numbers on TV
the other day on Bloomberg or whateverit was as far as the amount of
it's like one point three trillion onepoint oh three trillion right now in credit

(01:29:58):
card. It's a first time we'veever been here. But they also had
to like a little a woman onthat was discussing it just paying the minimum
payments. You're never going to payit off ever. Ever, it's it's
you know, you're talking decades beforeyou would pay it off, and I
just like, it's it's it's almostthirty years. I think, Yeah,
it's insanity. It's insanity, andI'm flabbergased that our government allows these thieves

(01:30:21):
to do this to people because Ilook at it, it's no different than
walking in the house with a gun. You know, this is what You're
gonna pay me a month week,whether you like it or not, you
know what I mean? All right, Yeah, it's all right to me.
They work on drug drug prices,as you saw last week, and
this is probably another thing that thatreally need to work on because they're just

(01:30:43):
just killing people. Yeah. Absolutely, the stress, the financial anxiety,
the money aspect. People on fixedincomes and what do they do so they
one a second, kept third,they cant have fourth jobs, they can't
do it. They call you.That's what they do when they find I
doubt that there's opportunities out there thatthey're not aware of. And the thing
is is that if they go forward, that's great. If they don't,

(01:31:06):
at least they've put them in thisthemselves in a position that they understand that
there are ways to get out ofthat disaster. So how do people get
ahold of Drew? Because I gotto take a break and I gotta say
goodbye and I could do some housekeepinghere. So how do people get ahold
of Dreelo? The easiest way justgo to drewsteam dot com. Yeah,

(01:31:27):
he obviously called me on myself.Seven days a week, doesn't matter,
it's five, seven, three,twenty four thirty five. But drewsteam dot
com is the best way and enjoyyour labor day weekend. Hope it's safe
and hope you have fun. Yeah, thanks Drew for coming on. I
appreciate it. Buddy, God blesshave a great day. Okay, Pop,
that's Drew Yello. Give him abuzz. I can't over emphasize enough,

(01:31:48):
folks, if you've got high creditcard debt, you have equity in
your home, don't assume that you'rein a situation that is uh, you
know, can't be fixed. Youcan. If you get a reverse mortgage
and you don't want it anymore andyou've you know, put yourself at a
better financial position, get rid ofit. You can pay them off.
You're not locked into it for life. But it is a tool. It's

(01:32:11):
an option for you to get thatnightmare off your back because, like I
said, I've seen it. I'vedone it myself. I know what it's
like. I've seen people come intomy office that are in dire straits financially
and also mentally. It has somuch of a stress on your quality of

(01:32:32):
life. Give us a buzz atthe office. We can put you in
contact with Drew at five five eightzero one nine one nine, have a
chat with you and tell you thatyou know there is sunshine ahead. We
can fix us. I'll be rightback after this quick message. The eighty
six percenter is do you know thateighty six percent of the population has no
defined benefit pension plan. For mostof us, we have to take our

(01:32:55):
life savings and create a paycheck forthe rest of our lives in retirement.
What is your plan for retirement incomedistribution? How will you manage your assets
during the most critical years of yourlifetime. Nobel Prize winning economist William Sharp
has called retirement income distribution the nastiest, hardest problem in finance. He points
out that investment, uncertainty, andmortality can derail the most careful laid out

(01:33:18):
retirement income plan. Call our officestoday to start the process of building your
retirement income distribution plan. After fortyone years of being in the financial services
business, you need to start takingaction to start building your own personal retirement
income distribution plan. How do youdo that? To take action? Five
one eight five eight zero one nineone nine. That's five one eight five

(01:33:40):
eight zero one nine one nine orRPG retire on the web. Don't procrastinate,
motivate to start building your retirement incomedistribution plan. Five one eight five
eight zero, one nine one nine. If you have any questions, please
call in now at one eight hundredeight two five fifty nine forty nine.
That's one eight hundred at Talk WGYone hundred Talk w g Y. We

(01:34:01):
are live in studio to answer yourquestions. I believe new timeful child.

(01:34:47):
I don't stand. I don't needthis story. I don't need you.
I'm a couture. Thank God,you would be gone any time. All

(01:35:11):
right, he did good this week. Nice music man, My brother,
my brother from another mother. Youdid good. You did good, Zach
love Zach. Zack's a hard workingman. Here's another guy, works two
jobs, got a wife and akid. Works here has another job with
the State of New York. Ipluge you, ma, man. The

(01:35:34):
only thing bad about Zach is thathe's a Philadelphia Eagle fan. But I
guess I can deal with it.I think they're gonna fly, I do.
I think they're gonna be a toughfoot, They're gonna be a tough
out, defensive in offensively. SoI think you gotta bright future with your

(01:35:55):
Philadelphia Eagles for many years to come. All right. I don't want to
summarize because we covered a lot ofinformation, hopefully informative, hopefully put you
in a better spot for your retirementyears. As you can tell, I
don't like credit cards. I don'tlike debt. If you get rid of

(01:36:21):
debt, I'm a big fan livewithin your means. I'm a big Dave
Ramsey fan. You know, Idon't promote him because you know there's anything
for me to promote Dave Ramsey.But I love his message. You know,
I don't agree one hundred percent ofwhat he talks about, but I
do agree with one thing. Greensand means. Live within your means.

(01:36:45):
Live within your means. Right,don't put yourself in a position with higher
interest rates or higher expenses and inflationthat you can't afford. Build Build a
nine one one fund. Build thefund that's there that in case there is
an emergency like we just went through. Right, that you have adequate amounts

(01:37:06):
of resources. Right, look atpossibility of borrowing, not taking money out
of your four ow one K.You know, when you talk about these
high interest rates on credit cards,you talk about things that are a nine
one one for you. You canborrow against your four oh one K up

(01:37:26):
to a maximum of fifty thousand dollarsand guess what, when you pay it
back, you're paying yourself at acompetitive rate to return maybe five or six
percent whatever it is. Right now. The TPA who manages the fun will
tell you what the interest rate is. But you're paying yourself, not these
cruks that are, you know,charging a twenty nine percent interests because you're

(01:37:51):
in the weeds. You've had,you know, some bumps in the road
in your life. Believe me whenI say this to you, folks.
We were there, Julie and I. We were there a lot of sleepless
nights, you know, when westarted this business, trying to, you

(01:38:12):
know, make sure that we're dottingin eyes and crossing our teas and she's
doing this and doing that. Wetalk about this all the time. That's
why I feel like I'm blessed.I say this all the time. Hard
work works, but prayer works also. You know, I'm a big believer
that. You know, you askedthe man upstairs and you will be granted

(01:38:36):
your wishes. But he's not goingto give it to you. He's going
to say, you know what,my son, walk the path, walk
the walk. And it sounds kindof corny, but I'm a big believer
in that. And the thing isis that I know one thing. The
people that I respect, the peoplethat I know that work hard. Every
day. They go to work anddo what's necessary in order to put bread

(01:38:58):
and butter and pay the expenses.They're rewarded for that. I can still
see, you know, all thoseyears farming the restaurant, and go through
the whole thing, you know,the sweat, the tears. Well,
it all works out. It allworks out. So if you're in a

(01:39:21):
situation and you're trying to figure outthe path to walkdown with your own personal
retirement planning, you know, it'sLabor Day weekend. I'm going up to
spend time with my family and friendsand Lake George. I'm gonna have a
family picnic on Sunday, going toinvite some family and friends over and just

(01:39:42):
kind of celebrate the summer. Youknow, we've only got a couple of
weeks left before I guess summer's officiallygone, but you know, for most
of a summer is gone. OnTuesday, I know, for the retirement
planning group, we're enjoying. Wetook a half a day yesterday and we've
got Monday off. But when Tuesday, he hits, We're back to work.
We're back to work doing what weneed to do in order to facilitate

(01:40:04):
what has expected of us from ourclients. And it's been a challenging year
for us at the Retirement Planning Group. There's been some events that we're not
first seen that we had to address, but we've gone through it. We've
done what we had to do.I'm so proud of Nico getting a CFP,
that's a very difficult thing to do. And my son Christopher has got

(01:40:27):
his financial planning degree from Siena College. Very proud of the whole staff,
Jimmy, Lisa, Brenda, andmy wife go through the whole staff,
you know. But the thing isis that you know, we're going to
make some announcements here very very soon, hopefully next week. We are going
to add some staff. We're alsogoing to basically build out our platform a

(01:40:48):
little bit more to facilitate what ourclients need. To facilitate what our clients
need, and I think it's importantand will make you aware that because we
are growing rapidly, we're getting alot of referrals, We're getting a lot
of people that are walking in thedoor that are listening to the show and

(01:41:10):
say, you know what, Ithink I can trust these guys. I
think that these guys have my bestinterests at heart, and I can tell
you, as long as I'm aliveand as long as my name's on that
door, we will always do theright thing. Ad t RT. You
know we're not right one hundred percentof the time. You know, we
don't have a crystal ball with thefinancial markets. If you're looking for that,

(01:41:31):
you've got the wrong team. ButAD t RT has always been our
model and it was always will beour model. Always do the right thing
because it's going to hurt you sometimes, but on the long term strategy,
you're gonna be okay. Say someprayers for the Yankees, like it's that

(01:41:54):
Oh my god. Who would everthink the Yankees be in the last place.
Who would ever think that this isthe baseball season that we would have.
But it is what it is.Everything goes in cycles, and they're
bad at Definitely. This is thelast weekend of racing at the track,
So if you're going up there,if you're going up to the lake,
we're gonna have a beautiful, beautifulweekend. The Scottish Games or an Altamont

(01:42:15):
if you've ever been to them before. It's a beautiful day. Get out
and enjoy the sunshine and the beautyof the Capital District region. I know
that my wife and I hopefully thisafternoon, I got to do a little
bit of mowing and yard work,but we're gonna go out and do a
little boat ride today and look atthat magnificent lake. Go up past the
narrows and just turn the key offand just sit there the wonderment of the

(01:42:40):
beauty of Lake George. And again. Check us out on the web.
We have a web page that givesyou a little bit of history of who
we are, what we do.It's rpgretire dot com. Rpg retire dot
com. Call us if we canbe of assistance. It's a privilege,
it's an honor to work with individuals. Nothing more sacred to me. Give

(01:43:03):
us a call at the office ifwe can be of assistance. It's five
win eight five eight zero one nineone nine five one eight five eight zero
one nine one nine And we'll seeyou next week for another retirement planning show.
I will be back live at noontoday twelve to one for Retirement Ready.

(01:43:24):
We're gonna be talking a little bitabout retirement income distribution. But again,
if we can be of assistance,it would be an honor. Five
win eight five eight zero one nineone nine. Or check us out on
the web. Like I said,it's simply just RPG retire dot com.
RPG retire dot com. We'll seeyou next week. The information provided is

(01:43:47):
for educational informational purposes only. Itdoes not constitute investment advice and it should
not be relied on as such.It should not be considered a solicitation to
buyer or to offer a seal security. It does not take into account any
investors particular investment objectives, strategies,tax status, or investment horizon. You
should consult your attorney or tax advisor. Thank you for listening to the Retirement

(01:44:08):
Planning Show hosted by David Kopeck.If you would like to talk with Dave
or someone at the Retirement Planning Groupcalled five eight five eight zero one nine
one nine. That's five one eightfive eight zero one nine one nine during
business hours, or visit us atRPNG retire dot com. The Retirement Planning
Group has three convenient offices located inAlbany, Malta. And Glens Falls.

(01:44:28):
Retirement Planning Group LLC is a registeredinvestment advisor. David M. Kopec is
also a registered representative of Perschcaplin's SterlingInvestments Inc. PKS in their separate capacities.
A registered representative of pks, DavidM. Kopeck may recommend the implementation
of securities through pks instead of RetirementPlanning Group LLC, Persch, Kaplins,
Sterling Investments No Retirement Planning Group LLCare not affiliated companies. Tune in again

(01:44:53):
next week for retirement planning Strategies withDavid Kopeck on The Retirement Planning Show.