Retirement Planning Show

September 9th, 2023

Episode Transcript

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

(00:22):
David M. Copack may recommend theimplementation of securities through PKS instead of Retirement
Planning Group LC. Perst Capitlan SterlingInvestments and Retirement Planning Group LC are not
affiliated companies. Now it's time forthe Retirement Planning Show on WGY. The

(00:50):
first thing I remember knowing was alonesome whistle blowing and the young's dream of
growing up. The ride on afreight train leaving town, not knowing where
I'm bound, and no one couldchange my mind. But Mama tried one.
An only rebel child from a familymeeking mile. My mama seemed to

(01:15):
know what lay in store. Spoutof all my Sunday learning Twurst the bad
I kept on turning till Mamma couldn'thold me anymore. I turned twenty one
in present doing life without the role. No one could steer me right.

(01:36):
But Mamma tried. Mama tried.Mama tried to raise me better. But
a treeting I denied. That leavesonly me the blame coase Mama tried.
All right, good morning, Mamatried Who's up? Who death? Meryl

(01:56):
Haggard? Oh is it you likemy kind of music? The barn is
done. They got pictures of perveit. Yeah, God, something out
in the car on my phone.Ye. So, people that have been
driving by my house, the barnis done as of yesterday. A little
bit of tweaking inside. Yeah.So my grandfather's barn is now on my

(02:22):
property, all reassembled, new sheetingon the outside. But Jim Sweet is
the guy that does barns. He'sgot an unbelievable crew. Couldn't be happier.
So I'm gonna have a heehaw heyride. You know how to line

(02:43):
dance? My wife does not meget out of my way if i'm if
I'm line dance, and there couldbe trouble. Yeah, so we're excited.
Well, good morning everyone. Anotherweek is coming. Go on,
boy the rain. I don't knowabout you, but man in Skenectady,

(03:06):
Rotterdam. Did you guys get blastedthe other night? Blasted? It's unbelievable.
I've never seen it so bad asfar as rain, and when it
comes down, it doesn't drizzle.And I think over the next five or
six days, if you look andjust heard on the news, we're gonna

(03:30):
have a lot more rain, alot more so a little disappointing. We
got a little flavor of some niceweather last weekend, but it looks like
that's it. It's gonna go awayfor a while. So for people that
have parties and golf events, Ifeel bad for him because you spend all

(03:51):
that money in time and effort andif it rains. I know that we
got rained out the other night forour golf league on Thursday, and that
was the night that it snap,crackled and pop. It was bad.
It was bad, probably one ofthe worst that I've seen in my neighborhood.

(04:11):
But I know I think down southit was worse. South of Albany,
I think they got whacked pretty good. So be safe, folks,
Be safe. It's been a busyweek. We've met with a lot of
people. Nico and I Ray wedid a road show. This week,
we went out to our Oneana officeand saw some great people. Of course,

(04:31):
when you're Oneana, you gotta stopand you gotta have lunch at Brooks
Brooks Barbecue at the brisket sandwich andmelts in your mouth. God, it's
good. And then yesterday we wereout in Oneida Lake seeing clients out there.
Had a great time, had agreat time. Friends of ours are

(04:56):
going back. Clients of ours aregoing back to Florida another couple of week
weeks. And then a gentleman thatlives out there is quite the entertainer as
a great collection of guitars. Hesings, plays, and the woman that
sings with him is just phenomenal.He played some he actually played for us

(05:19):
his guitar, an acoustical decar.He's got probably thirty guitars and he has
them on the wall. You know, he showcases him. But we really
have I can't. You know.The thing is is that might sound corny.
We really have great clients. Soproud of the people that we work
with. And it's just we chucklea lot, and you know, we

(05:42):
try to keep it upbeat, butwe're very appreciative of the people that we're
working with and you know, lookforward many more years of facilitating retirement planning.
So we are busy, extremely busy, and you know that's good.
I'm not going to complain because we'reextremely busy. But bottom line gets down

(06:06):
to if you're looking for some help, some assistance, if you're looking to
get into your retirement years. Thisis the retirement planning show. So if
you're not familiar with the show,all we talk about is pre impost retirement
planning. I've been doing it nowfor forty one years, going on my
forty second, which is hard tobelieve. And we do investment management,

(06:30):
asset protection, legacy planning, andwe focus in on retirement income distribution.
It is a daunting task. Thesehave been unprecedented times over the last few
years with the low interest rates,but you know, we're starting to see
some sunshine, starting to get somepositive rates, returns and portfolios. Again.

(06:51):
I'm very bullish on bonds. I'vebeen saying that for the last few
weeks. You know, the feedis meeting here in September. I think
the my gut tells me is thatthey're not going to increase rates. That's
what my belly. If they didit would only be probably one more time

(07:12):
if that all the economic data iscoming in. Last week showed productivity rose
at three and a half percent lastquarter. That's the strongest since two thousand
and twenty, twenty twenty two,and twenty two thousand and twenty, and
when you exclude the distortions from thepandemic, the economists basically say it's the

(07:34):
highest reading since the third quarter oftwo thousand and seventeen. So stronger productivity
should provide upward support to the wordthat you always want to watch GDP.
Right, So we've been pleasantly surprisedby the economy's resilience. I've been shocked,

(07:58):
to be honest with you. Ithink the only thing that could really
throw a wrench into our economy.We'll see what's going to happen to oil.
Scary a little bit. Our friendsin Saudi Arabia and Russia, of
course, are tightening the screws,increasing prices. Our president is eliminating leases

(08:20):
on some of the oil reserves thatwe have. And I listen to a
gentleman the other day, I don'twant to throw a curveball out here.
I don't want to throw a lotof anxiety or angst that we could be
heading to three a barrel oil ifthat happens. Hold on tight, because

(08:50):
if go look at petroleum products andsee all the products that are made in
this world from petroleum. But youknow, I'm in the camp that a
country that's energy efficient and independent isa great remedy to tell all of our

(09:11):
friends, are so called friends,to take a hike. Take a hike.
We don't need your oil. Wecan take care of ourselves by the
oil that we have. So we'llsee how that goes. But this week,
you know, we ended the weekon a pretty positive note, but
we're still down a little bit.On the week, DAL was down about

(09:33):
one percent, seventy bases points.S and P five hundred was down a
little bit over one one point threepercent. NAZDAC was down about two percent,
but still year to date pretty stronggains in the NASDAC, the S
and P five hundred, the dialten. Your treasury yield is at four
to twenty six. Bonds year todate are pretty flat, are pretty flat,

(09:58):
about eighty basis points maybe one percenttotal return and bonds depending on the
ones that you have. We comeback, I want to talk a little
bit about a topic that I'm seeingmore and more articles on. I think
Morgan Stanley just had an article thatI read that was in Barrens one of

(10:22):
the publications, I'm not too surewhich one it was, and it talked
about income planning for individuals that arestarting the process of going into retirement.
If you know anything about us,we are big believers that you start the
process ahead of time. We'd liketo get the buckets of money filled.
At a minimum, start the processfive years. And the sooner you start

(10:48):
the process, the better off you'regoing to be. So if you're fifty
nine sixty years of age and youwant to retire at FIRA fall retirement age,
you got about a six year windowthere in order to get the buckets
full. If you're fortunate enough tobe one of the lucky individuals that have
pension benefits, there's a lot ofdifferent ways and strategies that you can select

(11:11):
your pension benefit, especially if you'rethrough the New York State Retirement system.
I know that we work with alot of teachers, we're working now with
a lot of state troopers, workingwith a lot of individuals that have pension
benefits. And if that is thecase, you want to make sure that
you are making the proper selection andyou're doing the choice that makes sense for

(11:33):
both you and your spouse. Andwe'll talk a little bit about that today.
Nico will be in at eight am. He's gonna discuss a couple of
topics that he wants to go over. But again, our swing for our
cure, it's our golf outing Septembertwenty eight. It's going to be at

(11:56):
Fairways of Half Moon. If youare a golf or you want to partake
in a golf outing that is forthe American Cancer Society. Of the revenue
from that goes to the American CancerSociety. As I've always said over and
over again, my wife and Iare supposed to go to a soccer game

(12:18):
today for Colton, that little fouryear old boy five I think he's not
now five, that battled cancer,lost the long, lost the rib and
now he's cancer free. He justhad a scan, went over to Boston.
So Colton will be there with hisdad and we'll recognize them and the

(12:39):
brave effort that they put in.And we still need prayers for our two
friends, our family members, Kellyand John. They are in the battle
right now with cancer. It's ahorrific disease. I hate it. I
have a hard time be mentioning theword. But the thing is is that

(13:00):
you know, if you've dealt withit, you know you know how horrific
it can be and how debilitating.So we still need some prayers for Kelly
and John and September twenty eighth swingfor a cure. If you would like
to attend five one eight, fiveeight, zero one nine one nine,
speak to Jim. He will bethe coordinator of this. You'll put your

(13:20):
name down, get your foursome together. We don't have that many left.
I think he said we had theability for two more foursomes. So if
you want to come out and havea great day, good food, good
entertainment, lots of prizes and guests. Everybody leaves with something. We would
love to have you participate. It'sjust a great day and you'll see some
of the most wonderful people, ourclients and how they partake and participate in

(13:45):
these types of events with us.So we'll be right back. This is
a retirement planning show. I'm DaveKopec. We'll see on the other side
of this break the eighty six percenteris Do you know that eighty six percent
of the population has no defined benefitpension plan. For most of us,
we have to take our life savingsand create a paycheck for the rest of
our lives in retirement. What isyour plan for retirement income distribution? How

(14:07):
will you manage your assets during themost critical years of your lifetime. Nobel
Prize winning economist William Sharp has calledretirement income distribution the nastiest, hardest problem
in finance. He points out thatinvestment, uncertainty and mortality can derail the
most careful laid out retirement income plan. Call our offices today to start the
process of building your retirement income distributionplan. After forty one years of being

(14:31):
in the financial services business, youneed to start taking action to start building
your own personal retirement income distribution plan. How do you do that? To
take action? Five eight five eightzero one nine one nine. That's five
one eight five eight zero one nineone nine or RPG retire on the web.
Don't procrastinate, motivate to start buildingyour retirement income distribution plan five one

(14:54):
eight five eight zero one nine onenine. If you have any questions,
please call in now at one eighthundred eight two five fifty ninety nine.
That's one eight hundred talk w gY, one eight hundred talk w g
Y. We are live in studioto answer your questions. Some say love

(15:24):
it is a river and that itdrowns the tender ree. And some say
love it's like a raisin and thatit leaves your soul to bleed. Some

(15:48):
say love it is a hunger anda stake in knee. I say love
is a flower, and it's onlysee it's the heart. Afraid afraid that

(16:32):
never, mister Conway Twitty, Ilove, I love country man. It's
the dream comes right from the heart, comes right from the heart. When
I hear music like that, itjust brings me back in time to the
farm, you know, just bringsme back. I can still smell the

(16:55):
woodstove, see the wood shed.You know, it brings me back to
my grandparents and how they busted theirtails. Man. Hard working savers,
and that's who we work with.The guys at National Grid, Bimbo,

(17:17):
bakeries, plumbers, electricians, peoplethat worked on the manufacturing floor. GE
go through the whole laundry list.Hard working savers, you know, I
go to a Stewart's pretty frequently,which I'm always blown away by Stewarts the

(17:44):
business model that they have. Andif you listen to the news, you
know a lot of those Stewart's employeesthat have been there for an extended period
of time or millionaires because of theAESOP employees Dock Option plan, and they
have benefits, they have healthcare,they have an unbelievable ability to accumulate a

(18:11):
lot of money, and they can'tget employees. This poor woman that's running
the Stewart's not too far from myhouse. When I stop in there to
get it's just amazing to me becauseshe's always pulling her hair out. As
far as you know, I can'tkeep staff. There's always constant turnover.

(18:36):
And when they she doesn't have anopener, she's the opener. So it's
always amazing to me that a greatcompany like that, with all the benefits
that they provide, they still can'tkeep people in the seats. And that's
true across the board. I don'tcare where you go. I mean,

(18:59):
like George, I've been saying thisLake George this summer. A lot of
the restaurants, which are usually opensevent days a week, because that's when
they make their bacon. Two daysthey're closed because they're employees need time off.
They can't get people in the seats. I can't figure it out,

(19:22):
all right. You know, Ihad a chat with a couple this past
week, and very questious. Peopleadverse to risk need growth in their portfolio,
not substantial growth, but purchasing powergrowth. And they want some type

(19:48):
of a portfolio that basically gives themthe ability to have peace of mind.
But they also want to have guaranteedincome. And if I had this chat
with them two three years ago,when interest rates rip, if you're lucky

(20:11):
one percent, maybe one and ahalf percent, remember those days, we'd
be in deep weeds. But rightnow, I've been saying this now for
the last few weeks, and it'sresonating because our phone is ringing off the
hook for people that want to commitand have chats with us. We are
in a sweet spot right now whenyou can get five percent guaranteed, six

(20:37):
percent guaranteed depending on the asset classand the risk that you want, still
investment grade paper, five percent guaranteedprinciple and interests no questions asked. If
you look at your net return,which I've said over and over again in
fixed income and bonds, for mostof you, your net return over the

(21:00):
last decade or so has been lessthan four percent. It's been less than
four percent. And the question Iask is, why are we running around
pulling our hair out of our headtrying to get rates of returns that probably
are unrealistic. When the good manat the local bank, or your financial

(21:26):
advisor, or your insurance agent,whoever it may be, that's out there
busting their tail working nine to fivein the financial services business, probably more
like seven in the morning until teno'clock at night. It's here, It's
here right now. The guarantees arehere, and the data that I see

(21:47):
consistently over and over and over andover again. Another investment banking firm just
came out what individuals millennials are lookingfor right in boom sixty six percent double
sixes, sixty six percent want guaranteedretirement benefits sixty six And only a fraction

(22:12):
of you will do that, Onlya fraction of you will go out and
get guaranteed benefits. And I alwaysscratch my head. You know, you'll
you'll hear the screaming monkeys out theresaying don't buy an annuity, don't buy
a get, but they don't evenknow what the hell they're talking about.
To be honest with you, firstof all, you know, you say,

(22:34):
you know, I bought an myga, they'll answer, what's an myga?
They don't even know what it is. Well, it's a multi You're
guaranteed annuity, just like a CD. Principal industriests are guaranteed and get over
five percent right now, depending onwhere you live. No question is asked.
And at the end of the termyou take your money and run and
do whatever you want to do.And they'll sit there and they'll say,

(22:56):
well, you know you shouldn't buythem because it's got that word atached to
it, annuity. Well, don'tbuy it. Then buy a treasury.
You get over five percent right nowfor one year treasury. There are rates

(23:17):
of returns right now that I'm flabbergassed that more people are not taking advantage
of the three month treasury right now. As of the clothes on Friday is
five forty four, the six monthis five fifty two, and the twelve
month is five forty. Principal andinterest guaranteed backed by the US government,

(23:45):
said to a couple of the otherday. They have lots of money in
the banks. Why is it keepingthere? And they said, well,
we know we shouldn't have it there. Well, let's get it out of
there. But we'll talk a littlebit about that when we come back.
We got a break for the news. When we come back, we're gonna
be talking a little bit about RWAr o I, Reliability of income.

(24:06):
Nico's gonna be here at the topof the hour. God bless you all.
Hopefully you're having a wonderful weekend.I'm Dave Kopec. This is the
retirement Planning Show. Why it's abig job is getting by nine kids and

(24:27):
a wife. But I've been workingman danger all my life. I don't
keep on working as long as mytwo hands you're fit to use. I'll
drink my beer in a tavern,singing it a bit of these working man

(24:48):
blues. I'll keep my nose onthe grindstone, work hard every day.
I might getting it at time onthe weekend. After I drown my page,
go back work again. Come mondaymorning, I'm right back with the
cruise. I drank a little barethat evening, sang a little bit of

(25:15):
these working man blues like it sometimeI think about leaving dude in a bumbling
around. I want to my youshould spend records. You really should thank
you. I don't want to dothat. That's a good one. All

(25:38):
right, we're back retirement planning show. I hate to say it, folks,
but more rain today. The restof the week looks like it's all
weekend rain, all week rain.I don't know what we're in, but
I want to get out of it. Yad looks and where I am in

(26:02):
half Moon Cliffs and Park h Ihave a friend called clay. On my
whole ground. You got a littletop soil, but behind the underneath it
is clay, and it's like Igot a lake. Especially were the machines
doing the barn got all these ruts, but the barn has done so we're

(26:27):
happy. Heehaw hey ride for Halloween. Have some friends, family over,
get the wagon out with the hay, take him out for a ride in
the field, have fun. We'retalking about the economic conditions that we're in

(26:52):
right now with guaranteed rates. There'sa lot of information. Matter of fact,
next week we've got some important thatcoming out. I don't know if
you guys monitor this or not.But the CPI inflation report is coming out
and retail sales, which will beextremely heavinly looked at CPI inflation and retail
sales. But the thing that botheredthat I find bothersome, not only as

(27:19):
a individual, let's in the financialservices industry, but also a concern is
we're going getting way out of whackwith credit card debt, big time excess
at one trillion dollars and it's tickingup, it's not ticking down, and

(27:42):
we're not saving. I don't knowwhat the number is, but it's pretty
sad. It's like six out often people go check to check over sixty
percent of our population. Is ifthey lose one check, they're in deep
weeds. But we can send billionsand trillions overseas and not take care of

(28:03):
these people that need to help inhand, which I find disgusting. A
lot of hard working savers out thereis My brother in law is one of
them, nine to five busting thishill and the HVAC. You know,
so I'm making a ton of moneyevery day. He's up on the weekends,
he works doing odd jobs, tryingto put more money in his pocket.

(28:26):
Hard working savers. All right,let's go to Tom in Aubany morning
time. Hey, I saw dogs, hotel, silent, New Jersey.
Happy audio here trom pride, rushon further audio proofs to bribe to shift
from bridy. What what is thatguy on an airplane? I thought he

(28:56):
was at a bar? What canI help you with? Sir? I
don't know what? What? What? Uh? What runway do we take
off? It's south, It's notlike it was a pilot at a cockpit.
You know what? What runway?Well? Just take off. We're

(29:18):
going to write a book someday,Zach. We do have open lines if
you'd like to, If you'd liketo participate, it's one eight hundred talk
w GUI one eight hundred eight twofive fifty nine forty nine. Any question
you want to talk about this morning. We're talking about reliability of income.
We're talking about the market conditions thatwe're in. Oh, we've got the

(29:40):
opportunity here to lock in some rates. There's some yield enhancers right now.
We talked about that with some clientsyesterday. Uh, some well over ten
percent. You gotta absorb some ofthe fluctuation. But some of these portfolios
are trading NOTT atty premium, butat a discount to their true net asset

(30:00):
value, which is not uncommon withclosed end funds. Typically they go back
to the mean, they go backto their nav and what does that mean?
That means you get a pretty goodbank for your buck as far as
total return. And while you're sittingon the sidelines waiting, you're getting over
ten percent. You getting ten percent? Is that guaranteed? No, No,

(30:22):
one isn't guaranteed. But yield enhancersare a great, great way to
offset, you know, maybe someadditional moneies that you want in order to
have quality of life and some ofthe things that you want to do.
And you have what we call thesandbox account or the account that you know,
we maybe get a little bit moreaggressive and comparable to what your core

(30:44):
holdings are in order to offset someof the purchases that you want to do
or some of the things that youwant to do. Or one of our
clients yesterday, we're sitting at hishouse and he's got a beautiful home on
Oneida Lake and he just bought himselfa treat bought a SS Chevelle three ninety
six nineteen seventy and just a spectacularcar. Of course Nico. I couldn't

(31:11):
get Nico out of it. We'lltalk a little bit about that with Nico
once he gets in here. Butthe thing is is that you know,
he's doing some special things for himand his wife that they've always wanted to
do on his list. And hecalled me one time I was in Florida
on business. They have a homein Florida two and he goes, you
know, I'm going to meet himthe auto auction and I said, all

(31:33):
right, because he knows there's aparticular kind of card that I would like
myself. And he says, youknow what I'm looking for? And I
said, yep, I know whatyou're looking for. A Chevelle SS three
ninety six. And he's got itsilver with the blacks. I mean,
the thing is just cream It's acream puff beautiful car. Guys that like
car is probably the Chevelle is oneof the top on the list, Mustang

(31:59):
if you're staying guy, whatever itmay be. But they it's just spectacular.
So he bought himself a treat andhe just said that you know,
I've always wanted this. This issomething that I want and my wife and
I been looking, so found it. His brother went out, actually found
it not too far from here,believe it or not, the Capital District

(32:20):
region. His brother went up newcars, new automotive, the mechanics,
you know, and said, okay, we're doing this, and wrote the
check and away he went. Soit's always fun to see people clients of
ours that are realizing their dreams andgoing into retirement and doing some things that

(32:42):
are fun because sometimes we all arequite well aware time flies by. The
next thing you blink your eyes andanother birthday comes. So but let's talk
a little bit about reliability of income, because that's the thing that I wanted.
I told Jamie yesterday that we've hada lot of people come into the
office recently and with pension benefits andwithout pension benefits. But we've had quite

(33:08):
a few people recently that have pensionbenefits, school teachers, state police,
individuals that work with the municipality.And the thing is is that, you
know, if you've listened to myshow, the Retirement Planning Show, I
believe that guaranteed monthly income payments isa panacea. It's going to give you

(33:36):
quality of life and you're not gonnahave to worry about the risk that's associated
with managing assets and stocks and bonds. So when you look at longevity risk,
right, you take that off thetable because if you have a pension
plus so security, you have lifetimeincome streams that provide income for as long

(33:58):
as you shall live under any conditionsBuller Bear. And if you're fortunate enough,
maybe your spouse has a pension too, then you can really do some
kind of unique planning that you possiblybuy some insurance in order to leave a
legacy for your loved ones, inorder for you to have what we call

(34:22):
tax free wealth transfer tax preference transfer, and all that money that you've worked
for all those years, right,doesn't go down the drain when you pass
away. There is some form ofa legacy in an insurance policy that goes
tax free to your children. Alot of times we have them owned by
an irrevocable life insurance trust, asthey're all quite well aware. Too many

(34:51):
people are too heavily waited in thestock market. Me myself, I'll add
myself one hundred percent of my moneyis allocated into stocks. But I have
no desire to retire in the verynear future, and I know on a
historical basis. I've done extremely wellbeing in and I don't get scared and

(35:15):
jump out the window when the marketcorrects. So if you're looking for absolute
security, you need to start thinkingabout converting a portion of your retirement assets

(35:37):
into some form of a guaranteed orsome kind of a laddered bond, some
kind of a structure that you havethat reliable lifetime income that can create guaranteed
income for you and your spouse.Niko and I'm with a wonderful couple this

(36:01):
past week. He has a veryhigh concentration in stock. Very high concentration
in stock makes up probably I'm gonnasay, two thirds of his net worth.
And he knows, he knows.I said to him face to face,

(36:21):
you understand the risk that's associated withhaving so much of your wealth in
one particular stock because he said stockoptions, he said, the ability to
purchase it throughout his working years.And now he's, you know, he's
kind of like doesn't know what todo. He's kind of frozen a little
bit. How do we get outof this and what's the best way for

(36:42):
me to do that. So oneof the things that we try to do
is to try to put it anymoney our software package. And what that
does is that it gives us kindof a big picture out look of this
is where you are. We cando some hypotheticals, we can adjust the

(37:05):
money software in order. You know, if this is your net return,
this is what happens if your stockportfolio goes down twenty five thirty yard percent.
So when I hear people say that, you know they're kind of doing
it themselves, and you know theydon't need the help or resistance of any
kind of experience retirement planning professional.I always personally think that you're playing with

(37:30):
dynamite because there are options, andthere are strategies, and there are specific
things that can be done that makethings tax efficient. They give you a
peace of mind. And then,of course, if it's important to you,
if it's important to you the transferredwealth to the next generation that is

(37:52):
tax efficient. Spoke to a couplethis week and they had a will,
and I believe they had a powerof attorney. They had joint tenants with

(38:19):
rights of survivorship on their assets.The house was in their name, and
they were concerned of course about youknow, transfer of wealth to their children.
And I said, in my opinionafter doing this for as long as
they had been doing it. You'rea candidate for one of two things,

(38:42):
either a revocable or an irrevocable trust. And the reason for that is that
you never have to try to figureout what's going to happen as far as
are the asset that's going to beefficiently transferred to the next generation. Because
assets that are held and a trustavoid probate and get paid right directly to

(39:05):
your errors. There's no probate.You can basically you can resolve it.
You can settle everything within days,not months or years. And this woman
had a comment about her father somethinglike, you know, just by titling
assets you're able to avoid that.Yeah, And that's true, it is,

(39:29):
but it depends on how you title. How you title. If you've
got a podd beneficiary designation forms,those all avoid probate. But if you
do enjoy tennis relator survivorship and yougo out and get hit by a bus,
which of course you know statistically that'simprobable, but it does happen.

(39:51):
Horrific situations do happen. Then thebottom I gets down to is that if
there's no additional name on those forms, right, a child, a loved
one, whoever it may be.Then you got probate and probate. It's
expensive and it could be time consuming. People can challenge it, so I'm

(40:13):
always kind of scratching my head whyindividuals. I mean, the revocable trust
is no different than a checking account. You know, it doesn't give you
any asset protection, but it doesgive you simplification of your estate at death.
So highlight a little bit and thenwe'll I'll take a break now.

(40:39):
Then I'll just highlight this. Let'stake a break down. When we come
back, I'll just highlight what's goingon in guaranteed rates right now why you
might want to consider start doing someplanning, especially if you have a pension
benefit. You know, a lotof changes are coming with four oh one
K, which we're going to talka little bit about with Nico when he

(41:00):
comes in, and we'll have apretty in depth conversation with some of the
things that are happening with four owncase, because if you make over one
hundred and forty five thousand dollars you'relimited now in two and twenty four by
the ketchup provision. You have todo it with after tax dollars, not

(41:21):
pretext dollars. So we'll be rightback the eighty six percenters. Do you
know that eighty six percent of thepopulation has no defined benefit pension plan.
For most of us, we haveto take our life savings and create a
paycheck for the rest of our livesin retirement. What is your plan for
retirement income distribution? How will youmanage your assets during the most critical years
of your lifetime. Nobel Prize winningeconomists William Sharp has called retirement income distribution

(41:46):
the nastiest, hardest problem in finance. He points out that investment, uncertainty,
and mortality can derail the most carefullaid 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

(42:09):
do you do that? To takeaction? Five one eight, five eight
zero one nine one nine. That'sfive one eight, five eight zero one
nine one nine or RPG retire onthe web. Don't procrastinate, motivate to
start building your retirement income distribution plan. Five one eight five eight zero one
nine one nine. If you haveany questions, please call in now at

(42:30):
one eight hundred eight two five fiftynine forty nine. That's one eight hundred
talk w g Y, one eighthundred talk w g Y. We are
live in studio to answer your questions. That hotel summer son make your big

(42:52):
for your next frim. So youbest me on the creek banker laid in
the shape, shoot on a hitGreek quick pass that bartle out heavy a

(43:13):
swim. I ain't got a lot, but I think I got it name
in the shape. I'm just laterhere in a country stays in my get
your knees fish like they're going outof style drinking this oh made while.

(43:43):
If the sun don't come up tomorrow, people are to have a good time.
I'm just laid up here in acountry days mane alright, I'm love
old man's all right, I'm waiting. Who is it? Hank Williams Jr.

(44:09):
Does that? Hank Williams shran Wow. Like I said, when I
hear country manage, this brings meback to the good old days. They
didn't seem like the good old daysback then, but they do now.

(44:32):
The love of family and friends.Right, that's what life's all about.
All this money. I always I'malways flabbergassed it because I do this for
the love of it. If Iwanted to retire, I could, But
I truly do love what I do, and I think I have a message,
and that message is at the endof life. When you know the

(44:55):
rubber is no longer going to hitthe road, you're heading to meet the
maker. Are you're really gonna carehow my portfolio did. We're all renters.
We are all renters. Think aboutthat. It's nice to leave a

(45:17):
legacy and to transfer of wealth tothe kids if it's important too, but
we're all renters. That's why it'sso important that during your go go years,
the time that you have the abilityto get up and go go,
go slow, goo and no go. Well, during the go go years,

(45:40):
you don't want to have stress.You want to have fun. Just
met with some clients. He justcame back from Europe. They're in Italy,
through different countries and Europe, andI think they spent over three weeks
kind of did what they always wantedto do. The cruise. One of

(46:04):
those boats, you know, notthe big boats, but the smaller boats.
I think they call them what theriver cruises, whatever it may be,
and that you couldn't get the smilesoff their face. They're living the
dream. They are living the dream. And what I always say, should
retirement be a house that's built ontoothpicks or concrete foundation, that's up to

(46:31):
you, it's not up to us. You tell us what you're looking for
and we'll be able to facilitate it. But the bottom wide gets down to
is that every individual that comes intothe retirement planning group the conversation that it
is what do you want? It'snot what we want. So I'm always
flabbergassed that when I hear the screamingmonkeys out there telling you about all the

(46:53):
things that are bad for you,like their bias and their path is the
only one that you should go downbecause they're so good at what they do.
So if you're in a situation rightnow, which a lot of you

(47:14):
are going to be with the Stateof New York and you're close to your
retirement, I know that we've talkeda lot about this in the last few
weeks, but we've had a lotof people come in the door that had
no idea. If you are closeto your retirement with the state or the

(47:36):
teacher's retirement system, and you've gota big paycheck coming and you do not
have any suspenders and a belt protectionon that hard earned money that you've accumulated.
Yeah, you're not going to getit in a check a lump sum.
But if you die prematurely, yourfamily's not getting it. They're going

(47:59):
to get a death benefit. Andthink about what that number is and how
much money would have to be recreatedin order for you to get that amount
of money. If you have asixty seventy eighty thousand dollars a six figure,

(48:21):
one hundred thousand dollars pension benefit,how much money would you have to
have in insurance benefits in order foryou to recreate that Because you didn't make
it to the finish line. Youdidn't make it to the finish line.
And that's a question Sometimes people don'twant to answer because they got to think

(48:44):
of the unthinkable, or they thinkthat we're, you know, idiots,
because we're talking about life insurance inorder to protect family and friends. And
we all have stories, we allhave experience in our lives that basically make

(49:06):
us who we are. Right andI know because I lived it that my
father had ten thousand dollars of lifeinsurance when he died in nineteen sixty eight
ten and my mother had to worklike a dog for years, for years,

(49:31):
morning, noon and night, inorder to put bread and butter on
the table, a roof over ourhead in order for us to survive.
And that's no different on the otherend of the spectrum, when you're about
ready, you know, there's alot of people that say, you know,

(49:52):
I've spent my money because I knowI got this great pension benefit.
What happens, That's the question yougot to ask yourself, look in the
mirror, look at your spouse,and ask them that question today. If
you don't make it to the finishline, where do we stand as a
family. If you feel good aboutit, don't call us. If you

(50:16):
feel uncomfortable about it or unhappy,then give us a buzz, then give
us a buzz. I've seen it, I've lived it, and I also
have had clients that we've saved thembecause they listen to the message. Listen

(50:37):
to the message that you're playing Russianroulette. Let us help you so fraction
fraction of the money that is necessaryand This is only more complicated when you
end in added and ended add inblended families, children's by children by a

(51:00):
previous marriage. How does the moneypot get divided up? Think about that
one. Because we live in asociety today, we're about fifty percent of
us have had previous marriages and childrenin previous marriages. All right, let

(51:25):
me get back top of the hour. We'll talk a little bit more about
pre impulse retirement planning on Dave Kopeck. This is the Retirement Planning Show.
Welcome to the Retirement Planning Show withhost Dave Kopeck. In the financial services
business for over thirty five years.Their Retirement Planning Group LLLC is a registered
investment advisor. David M. Kopakis also a registered representative of perish kaplan

(51:51):
Sterling Investments Incorporated PKS in their separatecapacities. A registered representative of PKS,
David M. Copeck may recommend theimplement intation of securities through PKS instead of
Retirement Planning Group l LC. PIRSTCapital and Strumming Investments in Retirement Planning Group
l LC are not affiliated companies.Now it's time for the Retirement Planning Show

(52:12):
on w g y. I gavea letter to the post man. He
blew it at him his side andbiting. Early next morning he brought my

(52:32):
lap. She rode about it thatbest. Oh, such no good morning,
good morning, good morning baby,always here, break Breaker Breaker were

(52:54):
coming into the show for takeoff retirementplanning eight o'clock. You got a last
eight o five. Good morning,everybody, did. I've made it to
the studio. It was good,It was nice. I passed out right
when we got back. Put alittle Elba side. You get yourself in
that SS three ninety six, threefifty. It was three fifty. I

(53:19):
thought it was a three night.He was gonna put it three. He
can put a three ninety six init if you want me to. You
fired it up. I thought youwere gonna blow right out of there,
he goes. If his truck wasn'tsitting in the front. I was see
you back them off the day,Stephen Penny, thank you for the car.
We gotta we gotta go now.They're great people, They're awesome.

(53:42):
But yeah, it was nice,well told. I told Rick was serenados
with the guitar. Yeah, yeah, I said. At the beginning of
the show, it's just we gotgreat clients. I mean, we really
do have great clients. He reallyknows how to strumm it too. He's
good kid. Been playing for whatfifty years he said, or something like
that. You started unbuttoning in yourshirt. I did a little bit.
I was going to do a littleElvis with a hound dog. But we

(54:07):
had fun. It was a greattrip. And oh no, that's a
nice little town. What was thename of the restaurant we had lunch of
Eddie? Was it? Yeah?Eddie something I can't remember. It's been
there since nineteen thirty one. They'reknown for their hot ham sandwich. Yeah,
well you which you had? Ihad a fish sandwich. Yeah.
I'm particular about ham, you know, I just didn't want to Sometimes they

(54:29):
don't cook it right, or it'sthey cooked it right. Yeah, I
like I like a honey ham.I was thinking about the spirals that come
out of that store on Wolf Road. Will you get us a ham every
year? Yeah? That's where Iget it. I usually smoked mine in
my speaker, do you Yeah,it's really good. Matter of fact,
we're at Brooks bar We we couldtalk about food all day. We stopped

(54:52):
at Brooks Barbecue, and you geta quick sandwich when we left ony Ana
with their great clients down there,and uh, you can't go in.
You can't sit in Brooks Barbecue anymore, which I find what happens if it's
random, like hell outside, whatare you supposed to do? Take you
to go? I think they're inthe car. I think they're renovating.
No they're not. The couple saidthat they're because of whatever they found out

(55:17):
that they don't have to have allthe staff for inside, so it's all
to go spot. That's the onlyplace that they do Brooks I think it
is. I'm not sure. Guysup, guys up on the roof.
They're building on the roof doing smokingbarbecue. Yeah, yeah, all right,

(55:39):
if you've been to Brooks Barbecue downto Oneana. I had a hell
of a time finding the first timebecause they say it's in Oneana, but
you get off the exit, yougot to take a right. You don't
go into Oneana. It's on theoutskirts of Oneana. I don't know.
I don't think they would call thatOneana. But what a good spot any
kind of food. I went toSaliva last night dinner. It was pretty

(56:02):
good. It was pretty good.We had fun. David, myself,
Christopher William and his girlfriend Marissa,and my beautiful bride, Julie. We
had fun, nice night out.I had gaspacho, which is is that
the name? How you pronounce it? Said? A soup? I don't
know. Julie will text me.She'll probably tell me what it was.

(56:23):
Text me, Julie what it was. It's the seafood Medley. It's the
size of a bucket. I said, you gotta be kidding me. This
thing came out. There was enoughthere to feed three people. Yeah,
it's I got a whole bag ofit coming back to the house, which
I'll have some time today. Didthey bring it to you in a bag

(56:45):
and there's paper bags and then youpop it? No, you've never been
to a seafood place like that.No, there was one spot over in
Connecticut I went to. They broughtit in a bag. You hat to
wear plastic gloves this place. Thisplace was awesome. I don't know if
I want that. It was good. Was I'm still craving it? Is
that like when oh, no,you're talking about a steam a steam?
Well they had a bunch. There'slike corn in the bag. Yeah,

(57:07):
right, yeah, crabs. Yeah, yeah, and then there's a usually
a couple of potatoes and stuff.Yeah, potatoes kid, All right,
there's changes going on Nico to fourowen K programs. Nico is a certified
Financial planner in a PPC, andthe PPC stands for Professional Plank Consulting.

(57:30):
So he did the front end tohelp people putting in four owe K plans
and then he can also assist individualswith their four owen K allocations and blah
blah blah. So tell me alittle bit about what's happening with four owen
k's because if you don't act oryour employer does not act, you could

(57:50):
be in deep weeds. Yeah,there was so Originally this Cure Act came
out, I believe that was intwenty nineteen, and then just recently here
the Consolidated Appropriations Act of twenty twentythree Hr two six one seven came out
and there were some more changes thatwere implemented into four one K plans.
Some aren't taking effect until twenty twentyfive, again, so another couple of

(58:13):
years, but some are immediately theywere they were put into place, one
of those being four one K contributionson a rath basis. So employers in
the past typically wouldn't match on ROTHcontributions. This amendment allowed employers to match
employee contributions on a RATH basis,So some of these plans, I'm not

(58:35):
sure if you're aware, you canask your employer, the HR department,
or the benefits team and see withinyour four one K plan whether or not
you're able to contribute on a RATHbasis and capture the employer match on that
side of it. So that's oneof the big changes that I saw would
be extremely beneficial to a lot offolks out there. Start getting money into

(58:57):
a ROTH or after tax basis withinyour or one K plan to really start
diversifying your tax portfolio rather than justyour investments. You're looking at different taxable
buckets, different tax qualifications. SoI think that was a huge step forward
for retirement plans, allowing folks todo that, because then you'll get the

(59:17):
tax free benefits in retirement if youwant to grab money out of it.
Which why is that such a bigdeal, I mean for people that are
still accumulating, why why is itimportant for you to have some rough dollars
because you get tax free growth.So all your pre tax dollars. I
mean, yes, the buckets goingto grow over time, but eventually every

(59:38):
single dollar is going to be taxedthat you take out of that from an
income tax perspective, with the raththat grows tax free, so you get
tax free growth and then eventual taxfree distributions. Now, you do want
to be careful some after tax portionswithin four one K plans, if they
have earnings, those earnings can beclassified as pre tax when you go to

(59:59):
roll those dollars out into some sortof self directed IRA or self directed ROTH
account. So again, sometimes inthose those four one k plans, if
there's an after tax option, thoseearnings are still qualified as as pre tax,
So you want to be careful there. But if there's a ROTH four
O one k, then that's that'sideal. Yeah. The thing is too,

(01:00:19):
is that I know that there's beenthe limits I think are increasing also
in two thousand and twenty four asfar as the additional dollar amounts that you
can put in. But the problem. The problem is, folks, ninety
percent of the people don't think you'reunique. But I'm gonna say that ninety
percent of the people that come intothe Retirement Planning Group. It's very rare

(01:00:44):
that there's a significant amount of moneyin four oh one k roth war roth
IRA accounts almost all of it.Ninety percent of it is allocated towards pre
tax dollars. That's the Achilles Heelmoney. It's the money that you can't
touch without your friends from the federaland the state government getting the piece of

(01:01:05):
the action. As Natalie Chokes says, who is a guru in that arena?
It's the mortgage on your IRA.All those numbers are great, but
they really don't belong to you.And when you pass them on to the
next generation your pace, what areyou pass them on? A tax liability
and a plan. There's already apredetermined plan set up for those dollars.

(01:01:28):
They need to withdraw it within tenyears. They inherit a pre tax bucket.
But what you should be doing isthat you should be talking to your
HR person whoever's responsible for your fouro one K through your employer. I
know that we're going through through itright now with our TPA to make changes
in order to allow I think mostof your tpa's are probably in contact with

(01:01:58):
the sponsor of the plan, lettingthem know that they're making the adjustments or
the modifications automatically. Some will notdo that, So make sure that you're
having that chat that if you're overthe age of fifty and you still want
to do pre tax dollars not aftertax dollars, the modification has to go

(01:02:21):
into effect before January first to twothousand and twenty four. Yeah, I
know you mentioned earlier for folks areover one hundred and forty five thousand dollars.
As far as is that joint oris it single contributions, that's for
a single, single individual employee.What about? What about so it's based

(01:02:42):
off it's based off individual Yeah,kind of like how sold security would be
based based off the individual's earnings.Right. So, yeah, one hundred
and forty five thousand. If youmake above that your catch up contributions,
they have to be made on aROTH or post tax basis. So in
twenty twenty three on that ketchup amountseventy five hundred dollars. So that's for

(01:03:05):
this year. That's the maximum youcan do into it for a ketchup contribution.
If you're fifty year older, thatneeds to be made on an after
talk, after tax or post taxafter talking after tax basis, you gotta
get more elvous on, get hislips moving. I just I just started
up a pot of coffee. Thatamount is going to increase to ten twenty

(01:03:28):
twenty five folks. So all right, we're gonna take our break here.
We're at that time where we've gotto run a break. But if you
have any questions or comments, we'rehere until the top of the hour.
If you want to talk about investments, acid protection, legacy four oh one
k's pension benefits. We've had somegreat appointments, yeah, I mean,

(01:03:50):
this was the last couple of dayswere great because we got to see clients.
That's always fun, you know whatI mean, face to face rather
than I mean, yesterday was justa great day. I don't know,
I'm tired. Yeah, it isa lot of travel. It's a lot
of travel, and we travel alot. I probably put in six six
hundred miles over the last two days. So thank god you're driving around with
you and made it home safely.Made he sounded like my wife. Now,

(01:04:15):
I was slapping me in the backof the car last night. Get
over around the edge of the road, I said, I just drove six
hundred miles in the last two days. I'm okay, you see any dens
in the truck. There is acouple of there's close calls. All right.
The dish I had was zupa thepess, zupa, zupa the pess.
Never heard of that. Oh seafood, Oh my god, Anny leftovers.

(01:04:39):
Yes, huge, huge. WhenI say that this, if you've
been to Saliva up in Saratoga,Toga, when I say that this was
huge. First of all, wehad seafood tower. Yeah, Marissa likes

(01:05:00):
seafood, oysters, clams, shrimp, the shrimp or the size of jumbo.
They're like huge jumbo shrimp. Yeah. I mean the food up there
is phenomenal. If you haven't beenthere, it's just it's an astronomical seafood
was fresh. But do you likedraw seafood? You eat oy oysters or

(01:05:25):
clams? Raw? Not a bigoysters, guy, Oysters are sweeter than
clams like that. Oh yeah,you'd like to slip on it. I
don't like that. We'll talk aboutthat out at the break. People'll love.
We'll be right back. The eightysix percenters. Do you know that
eighty six percent of the population hasno defined benefit pension plan. For most

(01:05:45):
of us, we have to takeour life savings and create a paycheck for
the rest of our lives in retirement. What is your plan for retirement income
distribution? How will you manage yourassets during the most critical years of your
lifetime. Nobel Prize winning economists WilliamSharp has old retirement income distribution the nastiest,
hardest problem in finance. He pointsout that investment, uncertainty and mortality

(01:06:08):
can derail the most careful laid outretirement income plan. Call our offices today
to start the process of building yourretirement income distribution plan. After forty one
years of being in the financial servicesbusiness, you need to start taking action
to start building your own personal retirementincome distribution plan. How do you do
that? To take action? Fiveone eight five eight zero one nine one

(01:06:29):
nine. That's five one eight,five eight zero one nine one nine or
RPG retire on the web. Don'tprocrastinate, motivate to start building your retirement
income distribution plan five one eight fiveeight zero one nine one nine. If
you have any questions, please callin now at one eight hundred eight two
five fifty nine forty nine. That'sone eight hundred Talk WGY one eight hundred

(01:06:50):
talk WGY. We are live instudio to answer your questions. I'm bringing

(01:07:17):
and having as down then it around. I am crying my heart out,
feeling so even art and distrets down. I think, God die these useless
tears. And getting myself together,I think I wander down the hall and

(01:07:42):
have a little around because I'm allright, we are back room and Dolly
Parton right, look it up.I met a couple this week. We
gotta talk about Saratoga Lake. Mymother, her family had a farm over

(01:08:08):
by Saratoga Lake, and I gottalking about Dirty Betties. The bar restaurant
was more of a bar than arestaurant. I think she had. She
sold hot dogs and chips, butit was something out of you. If
anybody knows where Dirty Betties was,and they knew exactly where it was,

(01:08:30):
remember that they said that they actuallythey actually have a house not too far
from there. And they knew someof my family's friends, which I won't
mention their name on the air.You know, I'm talking about which which
day was this? I don't thinkit was either Tuesday or Wednesday. His
wife looked like Jimmy. I wasn'tin that appointment. Okay, wonderful people.

(01:08:57):
His wife looks exactly like Jim Corkran'sif it's just crazy, first thing
I said to you when you walkedin the floor. So does she look
like Joanne? Right? I did? That is not false? Yeah,
right, all right. We're talkingabout four owen k's and the changes that
are coming. One of the thingsthat I always like to talk about when

(01:09:17):
individuals commit as far as the allocationsthat they're currently doing with their four owen
K programs through their employer, weare finding out now and I think you
just if you have a plan nowwith Vanguard. Vanguard they did mention to
us that we have the ability nowto win and assist individuals with the Vanguard

(01:09:39):
four O one case for small fourone K plans, we could become the
advisor on it. Right. Alsowith individuals with four owen k's at Vanguard,
we're working on trying to to accessthose or try to We got a
conference call with them this week orsomething. She reached out Friday. She
did, we were on the road. That's what I thought. I saw.
That always happens like that, andyou want the phone calls you're on

(01:10:00):
the road. So let's go toour good friend Mike and Boston Lake.
I was just by Boston. Wejust drove by Boston Lake yesterday. We're
on Roots sixty seven coming back fromOeneida Lake. You're there, Mike,
Yeah, Hey, good morning.How are you good, brother? How
are you doing today? I'm well? Thanks. I wanted to ask a

(01:10:25):
question about something Nico said in thelast segment relative to I thought I heard
him say, catch up provision nextyear has to be after tax dollars?
Is that correct? Unless your planadministrator, you might not even be able

(01:10:45):
to do it, depending on whatthe plan does the TPA. But if
you make over one hundred and fortyfive thousand dollars a year, our friends
down in Washington, you can nolonger do pre tax. It has to
be after tax, the raw fourold one K option correct, and that
starts next year? Yeah right,okay, all right, Well I'm fortunate.

(01:11:06):
I'm fortunate to be in that group. So, uh yeah, that's
that's a big difference. I'm sixtyone and for eleven years I've been taking
advantage of the pretext catch up.So you're telling me next next year it's
after tax, and had I hada follow up question also something that Nico

(01:11:27):
was talking about. I don't knowif he is it about the seafood that
you know, I love seafood.Seafood doesn't love me. That's the problem.
Fish is okay, but shell fishis a problem anyway. Relative to

(01:11:50):
the ROTH contribution. So my employerdoes offer a ROW four old one K.
I have not taken advantage of ithistorically because I've done the back door
I R and I've not been ableto find anybody that can tell me if
I can do both. So I'dbe interested in your thoughts about that.

(01:12:12):
But also talked about Nico. Ithink it's possible that employers will match the
ROTH contribution if you're doing a ROTHfour O one K and and and so
I think we have an after taxROTH four O one K If they match

(01:12:33):
in that, does that mean thatthose that the employer dollars actually never get
taxed. So so we'll take itone question at a time here, so
that the first thing, yeah,I probably yeah, I probably asked like
five questions there. I apologize.Hey, go get yourself another cup of

(01:12:53):
coffee. We'll be ready. Okay, So the first question added do with
your you're saying a backdoor you're doinga backdoor ROTH IRA. So I'm assuming
you've got quite a bit of incomecoming. I'm sorry, I'm sorry,
back backdoor ROTH. You're You're correct, Ye, backdoor ROTH. So the
reason to do that is because you'reabove the income limits. So you contribute

(01:13:14):
to an IRA. You convert overROTH with the four oh one K is
there's no income, no income limits, and starting in twenty four they can
match exactly. So I would say, rather than doing that backdoor ROTH,
I would contribute to a ROTH basiswithin your four oh one K. But
the question becomes your TPA. Doyou have the ROTH option where you're currently

(01:13:34):
employed through your four O one Kthat's what he was saying. They do
have it, Yeah, they do, then that's what he wants to do.
Yeah, we have something. WhatI don't know is if they match
in that or not. I knowwe have a ROTH option, So if
they currently can't, but in twentyfour they can't, they may, they
may, they may. They're notobligated to, but you have to ask

(01:13:55):
there the four O one K departmentor whoever is the plan sponsor for you?
Well, yeah, that's everything's awebsite. Now that's getting a hold
of a human being. It's closeto himpossible. Who is the wh who
is the It's crazy, isn't it? Who is the Yeah? Who is
the plan through? What? What? What? Either family of funds or

(01:14:17):
is there a Is it an independentWe have an independent plan through a TPA
locally here in Albany. But whowho actually manages the forward? Guy?
Yeah, I don't want to saybecause it's actually my employer. Okay,
Okay, I don't want to saythere. That's fine, that's fine.
You know, we're writing Malta.If you want to come in, we
can have a chat with you andsee a face to face and we'll get

(01:14:42):
out of the f And uh,do you live right on Do you live
right on Boston Lake? Mike?I don't h I love just just off
back to the level of the northWay. Yeah, that's a beautiful area.
That area is growing leaps and bound, isn't it. It is?
There's new developments all the time.It's a it's a nice location. It's

(01:15:02):
halfway between Saratoga and Albany. It'sit's really it's it's easy. Yeah,
it is, it is. I'vegot my wife has four brothers, and
three of them live in the BostonLake area. Well, it's great.
The family's close. Yep, acceptus. They kept us down in Clifton

(01:15:23):
Park. Did I answer your question, Mike, We got like two minutes
here. I want to make surewe answered your questions. So you're all
set. That's a nice spot overthere too, by Eggs at eleven.
They got a lot of new developmentsout of there. Beautiful, beautiful.
Give us a call if we canhelp you, Mike, Okay, thank

(01:15:45):
you, all right, brother,Yeah, that whole area is gorgeous up
there. You know. The thingis is that when I say to you
when we were going by Boston Lake, because we cut around sixty seven,
because sixty seven gets all backed upat that light by Stewart's. Yeah,
so I said, you were goingaround the back way, go by Boston
Lake, take a left and godown to the intersection and take a right.
But the infrastructure, the roads,the roads are not set up up

(01:16:08):
there right now for the amount ofpopulation. Yeah, I mean those roads
were set up decades ago. Singlelane some of those roads at least they
needed a minimum turning lanes. Yeah, yeah, you know, I was
glad you kind of took the roundabout. I didn't know where you were
taking me, but it was endup, ended up working out. I
was pretty good at that when Iwas dating girls. It's not how to

(01:16:30):
go around those back roads. Yeah, we went by Jimmy's house. God,
you gotta laugh, right, Ifyou don't laugh, you're gonna cry.
So we had a lot of laughswith our friends down on Oneani yesterday
the other day. That was agood chuckle. Yeah. We we just
have great clients. I mean,we just had a fun couple of days,

(01:16:56):
had some nice lunch Eddie's and o'neidaLake and then what's that Sylvan beach?
Sylvan Sylvan Beach? Which is thatOneida? Oh not a lake?
No, that wasn't Sylvan Beach.Yes, it was called something else.
All right, we'll bring that up. But we're gonna be back after this
quick message. We're gonna talk alittle bit more about four O one k's.

(01:17:19):
If you're in a four O oneK, you should be talking to
your HR person or your plan administrator. Make sure you're gonna have these options
available. Like Mike just said,you want to make sure you're doting your
eyes, crossing your tees and takean advantage of all of the employer matching
contributions. Right, you don't wantto miss out because that's all free money.

(01:17:40):
So where you'd be right back afterthe message open lines when we come
back? Why almost even West Virginia, Blue Ridge Mountain, chever life is

(01:18:08):
old, older than the trees,younger than the mountains, growing like a
rees, Country Rolls. Take mehome to the place high West Virginia Mountain,

(01:18:31):
my mind, Take me home,Country Rolls. We're back together around
curtains. A second. I was, you know a golf on Thursdays.

(01:18:51):
You can connect to the golf carts. What do you mean connect? There's
the bluetooth so you can get yourphone on there play music. One time
I earls from West Virginia. Iknow. So I connected to his cart
and I put my phone on there. Did I started? I started playing
that? So yeah, did youstart crying? I got a kick out
of it. West Virginia. He'sa great guy. Yeah, he's a

(01:19:15):
country boy, West Virginia boy.We've got a good group that goes out
on Thursdays. Yah, we gota great group. Yeah. And now
Corkoran is playing He's using all myrounds of golf over at McGregor and thunderstorms
and thunderstorms. I will pass.Don't worry about it. I'm having the
best game of my lawyer. Yeah, it hit the tree, but that's

(01:19:36):
okay, don't worry about it.Caddyshack, when it's pouring and he's got
his club up in the air,that's Jimmy. He looks like he got
hit. I think I think hegot struck, all right. You know,
we were just talking at the breakunderstanding where you are, where you

(01:19:59):
want to be, like Mike callingand asking about us for one K program,
But we try to build a personalizedstrategy for you. Once we understand
what your goals are, we'll workwith you to build a customized strategy based
on the information that you want,included your comfort for risk, the amount

(01:20:19):
of time they have to reach yourgoal. I think it's critical. I
mean, that's one of the thingsthat you know we're working with. Of
course, we worked with Fidelity,but now we're going to have an opportunity
to work with Vanguard. And it'sa process. It's a process to the
biggest names in the industry, tothe biggest names in the industry, and

(01:20:40):
you know, we try to youknow, be a you know, a
sounding board. A lot of timespeople have a hard time building out their
asset allocation models. I know thatone particular company which I won't name,
they're not happy with Vanguard right now, you know. I mean that's the
messaging that I get. You know, they're not getting the interaction that they

(01:21:02):
want. That's why we're having somany meetings with them face to face.
Yeah. So the thing is isthat you know, we can customize your
plan, make you understand exactly thepotential risk that you may face and the
solutions to help you overcome them.Open architecture is huge. Absolutely, We're
able to browse the market, investin mutual funds from a lot of companies

(01:21:24):
out there, So we're again we'recompletely open architecture, and I love that
because we're not held to a specificmenu of funds. No, we can
go out. We could do individualstocks, we could do ETFs like you
were saying in the first hour.We can put some yield enhancers that probably
aren't available to a lot of advisorsout there, not at all. So

(01:21:44):
we're really it's customizable. We canreally design a portfolio geared towards your income
needs. Well, you and Iboth know and I think we've seen this
over the last couple of years.Goals change over time, your life priorities
change, life changes, relationship,ships changes, marriage changes. You know,
so you gotta periodically check in andmake sure that you're reviewing your strategy.

(01:22:09):
Are you on track, are youunderstanding exactly are you're reaching or achieving
your goals where you're supposed to beon the timeline, And if you need,
you got to either make life changesor market changes. Yeah, we
have this conversation a lot of timeswith people as far as you know what,
if you want to attain this goal, you got to make some adjustments.
Either you got to add more moneyto the pot or take less off

(01:22:30):
the pot, or you know,you know what I mean. Yeah,
I mean you've been on the growthtrain your your whole life. Probably it's
time to start slowing down. Andjust like when a train comes into station,
starts slowing down, so you letthe people off. I mean,
you got to change your investment philosophyso it's more geared towards income reliability of
income ROI. And you're throughout yourworking years, your accumulation years, building

(01:22:53):
up these retirement assets. You're lookingfor return on investment. But now once
you retire and you're gonna start usingthese assets for income, you want to
make sure you have income and it'sgoing to be there and you can sleep
at night. So when the marketdrops like it did last year, or
if you have an event that lifethrows you a curveball, it's easy,

(01:23:13):
which we all are quite well aware. I've done it myself. You let
your emotions take over, you know, I'm always That's one of the things
that i have a lot of respectfor Nico, and I've told him this
is that I never see Nico highhigh or low low. You know,
he's pretty consistent and you need thatas a financial advisor who understands what we're
trying to accomplish. And you can'tget outside your boundaries, outside your guard

(01:23:39):
reels. What do you mean,Well, you can't you can't allow your
emotions to dictate your answers. Yeah. Easy. Sometimes it's easy to do
that, and you know that Ido that sometimes where people will say,
you know, wow, he's prettyintense. Yeah, But the thing is
is that I'm trying to Maybe sometimes I overreact, but you've got a

(01:24:00):
lot of passion, you know,what's wrong and you need you know what
needs to get fixed, and yourapproach is telling them that, and it's
a it's a good approach, andyou're direct with them, and you're you
communicate what's wrong and what needs tobe done. Sometimes some folks don't.
They get defensive. So that's right. I try to play a little well.

(01:24:20):
The thing is that softer tone.It's it's the two things that I
see over and over again that areconsistent. The first thing is this,
okay, making minor changes can havesubstantial gains. Minor changes can have substantial
gains. And thinking long term ratherthan short term. Here's an example which

(01:24:44):
you and I talked about in thecar, and I didn't like holding your
hand in the car. We're notdoing that anymore. I get I get
clammy, my hand gets lay.But to make a long story short,
we're getting conversations now, which youhad this week with a good client of

(01:25:05):
ours, how come we don't havemore in the stock market than we do
right now? And last year thatperson was saying, give me treasury bonds.
I want treasury bonds. Put mein treasuries. I want safety,
I want guarantees. Now they're upnine percent on the year. You want
to know why we don't have morein the stock market. Yeah, I

(01:25:26):
mean it's an ongoing conversation. It'sfear and greek. I mean, that's
the definition right there. I mean, when it's everything's bad and the market's
going down, we're idiots. We'reidiots. Why didn't you have me in
treasury bills? I want safety?But then when the market's up, didn't
have more We're idiots. Why didn'twe have more stock exposure? But why
weren't we getting this one specific fundthat's up this this amount this year?

(01:25:48):
So it's an ongoing battle. Butyou just need to take a step back
and stay true to your your assetmix that is aligned to your your risk
tolerance and your suitability as an investor. And that's our job as advisors to
make sure you feel comfortable no matterwhat. So, yeah, and I
think you know it's hard to navigateuncertainty, my crystal ball. It broke

(01:26:10):
a long time ago. You know, I wasn't able to predict the future.
I know a lot of these Mondaymorning wonder boys and girls that have
all the answers, Well, I'veI've never been able to get that crystal
ball to work for me as faras trying to figure out what the uncertainty
and the you know, black swanevents that happen. And I think that's

(01:26:32):
that's the most critical component of buildingout a retirement plan, is that yes,
you have to have growth. No, you shouldn't have so much growth
in your portfolio that when there isa down draft and you're down thirty forty
percent, which is you know,we've seen that. Something resonated with me.
On Tuesday or Wednesday. Tuesday,I met with an older client of

(01:26:54):
EARS. They've been a client forabout twenty years and they went through that
that run with technology and the Internetbubble. But what happened was they became
way too exposed to stocks and theportfolio ended up getting hit. Then they
heard you on the radio saying guaranteed, so guaranteed multi year annuity contracts,

(01:27:16):
also variable annuities with the guaranteed growthrate on the income benefit. They love
that. Some folks are just init for guarantees and we can provide if
that's what you want as well.The older you get, I think,
you know, I can always saythis, you got to pull the throttle
back in regards to the exposure thatyou have to risk because the unthinkable is

(01:27:40):
thinkable in this crazy world that welive in today. Yeah, and if
there is a major black swan event, you know, how long will it
take in order for us to recoupto get back to where you either you
were when you every month you needto check, you still have to draw
off the portfolio. For the peoplethat don't have a pension benefit exactly and

(01:28:01):
don't have a purse of taxation,meaning that the state, if they don't
get enough money in order for themto fund the pension, they'll just tax
us more and they'll just add moreto the pop the communities because the communities,
they have a formula that the communitiesthe counties have to pay into the

(01:28:23):
retirement system for New York State,right, Yeah, that's not true for
retirees that don't have a pension benefit. You know, if you're not working
anymore and you're in your seventies andyou take a thirty or forty percent hit
and you still have to have thatcheck, right, Yeah, that's when
the uncertainty and how to navigate itso you have certainty is really the anxiety

(01:28:46):
attack for most people. Yeah,I mean a lot of folks out there.
They're just gonna have so security astheir main guaranteed source of income.
The retirement assets might be their fourO one K that they built up throughout
their working years, and you needto figure out how to create an income
stream off that. Maybe you havea million bucks in there, maybe you
take a percentage of that and lockup another guaranteed income streams. It acts

(01:29:09):
as a hedge against the stock marketor the bond market. However the rest
of your assets are invested, andit allows you to sleep better. I
mean, you got a guaranteed checkcoming into the rest of your life.
Yep. So the thing is thatthe retirement planning group, what we try
to do is we try to makeprogress as far as the uncertainty what the

(01:29:30):
future holds, and what type ofinflation fighting type of portfolio you should have.
Because if you look at goods andservices. Nico and I were talking
about this when you're driving this week, you know, the city went to
the market the other day. Hadone bag it was eighty bucks. It's
like eighty three bucks for one bagof groceries for dinner one night. Water.

(01:29:50):
I think I got three three thingsof water, three twenty four packs
even for eleven bucks. No,no water. I guess some avocados.
Yeah, I mean it's one hundreddollars and a bag of groceries is not
as much as you thought. Andthe thing is, you know, I've
been blowing the horn for Hainters.Yeah, you know. I go over

(01:30:11):
at Hainter's. They got the bestcorn on earth. I've never had corn
like Hainter's corn. They got beautifultomatoes, cucumbers and zooks and squash.
They pick it in the morning.It's there on the wagon and it's delicious,
delicious, and it's at that reasonablecost. You know. Yeah,
my sister in law, she's gota farm stand, so she Yeah,
they started growing some. I thinkthey did rhubarb this year. Well,

(01:30:34):
I might have to go see howit's been. We got Phil from Houston,
Texas. Morning. Phil. Hey, Dave, how are you hey?
Earlier you're talking about probate and trustet cetera. How are iras treated.
They can't be held inside of thetrust? Are they probated? No,
as long as they're well, thisis the key. The IRA has

(01:30:57):
a very magical thing on it calleda beneficiary form beneficiary designation. Anything that's
on that beneficiary, form, wife, child, aunt, uncle, whoever
it may be. That's where themoney goes, and it goes paid directly
to the name beneficiary and avoids probate. All right, good, all right,

(01:31:19):
brother, Hey listen, I wasjust down in Texas. So I
was just down in Dallas. Wellthat's up in Dallas. Yeah, we're
down in the Houston area. Yeah. I've been to Houston a couple a
couple of times. But you guysneed a better You guys need a better
basketball team down there. How abouthow about a baseball team? As guy,

(01:31:40):
I won't even talk about that.I won't even mentioned their names.
You mean the cheaters. Yeah,hey, everybody had in their pocket.
All right, God bless your brother. All right, be good, thanks
the cheaters, the Astros, theDiamondbacks are going to make the playoffs.

(01:32:00):
You know, I'll tell you whatI am. I've been a diehard Yankee
fan my whole life, and Igot it. I'm gonna say something to
you, brother. I am sodisappointed in them. They need to clean
clean out. They need a clearhouse. They need to get rid of
the general manager, the manager,and they got to start fresh because I
don't know what's going on. Icoached basketball. You know that for years.

(01:32:21):
I played basketball sometimes and I think, you know what I'm gonna say
here, a coach loses his voiceand it's not like he can't talk and
you can't hear him. They don't. They're just not They're they're going,
you know, They're just they're justnot receiving the message. They're not listening.

(01:32:41):
They're not listening, and that thathas to be what's happening with the
New York Yankees, because there's toomuch talent there for them to be in
last place in the American League.So that's all I'm gonna say. When
we come back, we're gonna wrapup. We're gonna talk a little bit
about that's a good question from thatgentleman from Texas. We'll talk a little
bit about irase and some of thethings that you should be doing in the

(01:33:03):
year two thousand and twenty three.In two thousand and twenty four, there
are some additional contributions which Nico willtalk about an I raise. I'm want
to talk about student loans a littlebit. You do, yeah, with
four plans? Yeah, how theyrelate? Okay, we'll talk about that
too. But when we come backwe'll hopefully get a couple more questions.

(01:33:23):
It's one eight hundred talk to BGUI. That's one eight hundred and eight two
five fifty nine, God bless,We'll be right back the eighty six per
centers. Do you know that eightysix percent of the population has no defined
benefit pension plan? For most ofus, we have to take our life
savings and create a paycheck for therest of our lives in retirement. What
is your plan for retirement income distribution? How you manage your assets during the

(01:33:45):
most critical years of your lifetime.Nobel Prize winning economists William Sharp has called
retirement income distribution the nastiest, hardestproblem in finance. He points out that
investment, uncertainty, and more talentcan derail the most careful laid out retirement
income plan. Call our offices todayto start the process of building your retirement
income distribution plan. After forty oneyears of being in the financial services business,

(01:34:11):
you need to start taking action tostart building your own personal retirement income
distribution plan. How do you dothat? To take action? Five one
eight five eight zero one nine onenine. That's five one eight, five
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

(01:34:32):
zero one nine one nine. Ifyou have any questions, please call in
now at one eight hundred eight twofive fifty nine forty nine. That's one
eight hundred talk w G Y oneeight hundred talk WGY. We are live
in studio to answer your questions.Pulling down that woods, Tennessee by week,

(01:35:02):
one arm on the wheel, holdingmy lover with the other a sweet,
soft Southern thrill. Worked hard allweek, got a little jingle on

(01:35:23):
a Tennessee sadder tonight, couldn't feelbetter. I'm together with my dixy Land
tonight. Spend my dollar parking.A holler needs a mountain moonlight. All

(01:35:44):
right, that's a nice, nicetune. So Clint camill I heard you
know, I'll tell you what.The gentleman that had the guitar collection out
no Nia Lake. I asked themthe other day when we were out there,

(01:36:05):
Rick, so what'd you think ofGlenn Campbell? He said that was
one of his favorite singers and guitar. He said he played some play something
played some Glen Glenn Campbell's did theirbasement was awesome. Yeah, I feel
like I could spend three days downthere. Talk about a beautiful home.
Yeah's talk about a beautiful home.All right, I'm gonna shut my mouth

(01:36:29):
because you said you wanted to talkabout something, so it's hard for me
to shut my mouth. So I'mgonna get another hot cup of coffee while
you, well, you ramble on, ramble boy, ramble, rambling.
I'm a rambling man, all right. So there's a there's a big change.
And this has never been the casebefore with student loan repayments. So

(01:36:53):
according to the Secure Act two pointzero in beginning in two thousand and twenty
four, student loan payments can betreated as retirement contributions for the purpose of
qualifying matching contributions in a workplace retirementaccount. So what does that mean If
you have your student loan repayments beginningwhich we've got a few clients who their

(01:37:14):
student loans are about to kick backon for them, the contributions you make
towards that loan or the monthly amountyou're paying towards that loan can be considered
a retirement contribution, even though you'repaying off a debt and then the employer
can match a percentage of those premiumpayments that you're making towards student loans,
and to an effect, you canpay down your student loan debt while also

(01:37:39):
contributing towards your retirement within your fourone K plant, which I think is
extremely advantageous. If someone wants tocontribute more towards their loans, maybe they
have seventy eight ninety thousand dollars instudent debts still and they really want to
start attacking that. They can paythat down with their contributions towards the student
loans. It's considered a retirement costributionfor these purposes, and the employer can

(01:38:01):
match a certain percentage of that,so you're still saving for retirement on that
side. That's a great deal.So I think it's great for a lot
of young It is absolutely a matterof fact, I didn't know that was
going on. Yeah, that's inthe Secure Act two point out they're about
ninety provisions, Is it really thatwere made? Some are small and not
too crazy, but and some arejust optional. But there are some.

(01:38:23):
You know, you and I listeningto audience doesn't probably realize us, but
I'm gonna say it so they getedumacated a little bit about our business.
We have to do continuing education everyyear, right, and a lot of
times it's boilerplate stuff that really is, you know, redundant. You already
know it, but you got togo through it. This is the stuff

(01:38:45):
in our business. If they're goingto do continuing with education, they should
bring us into a classroom for likea day and go over stuff like this,
like the new changes in the loss. Yeah, personally, that's what
I think, But that probably makestoo much sense because it's common sense.
Common sense is too much sense?You like that one? It's something I

(01:39:06):
struggle. Do you like that one? Commons common sense? Kendras is Kendra's
street smart. Yeah, I'm theI'm the book smart. Yeah. Well,
well i'll tell you what. Youknow. The bottom line gets down
to this, you've done all rightsfor yourself there, boy, you know,
stay on my tail for a whileand you're gonna you're gonna fly.

(01:39:26):
You're talking about the eagle, theeagle, you're the You're the goose.
To my man, I'm the goose. It's funny. So we made progress
today. We talked about a lotof stuff in a very short period of
time. I'm gonna be back fromtwelve to one today the Retirement Ready Show.

(01:39:48):
We're gonna talk topics specific I'm notgonna, you know, give me
too much, but we're gonna talka little about the text advantaged investments that
are still out there that you mightwant to gobble up before year's end.
You want to summarize anything that youwant to discuss before we have to say

(01:40:08):
goodbye. We got about four minutesbefore we're gonna have to jump off the
bus there. Yeah, No,I think a lot of folks out there
if you have any questions if yourcurrent four oh one K plan or you
don't know the questions to ask andwhat you should be doing at the current
stage in your life, we canhelp. We've done if you're an employ
If you're an employer and you're unhappywith your four oh one kay, and

(01:40:29):
you're looking for a new plan withmore dynamic solutions and financial advisors that will
actually talk to you and not aneight hundred telephone number. Who should they
call you think you should call us? Yeah, and that numbers five on
eight five eight zero one nine onenine. Again, that's five on eight
five eight zero one nine one nineif you want a complimentary consultation, you're

(01:40:55):
more unhappy to sit down and havea chat with you, even your employees.
We could say, at something upif you do want to look at
your current four o one K plan, if you're a small business owner and
can just get a second pair ofeyes on it, we could take a
look and see what we can do. And again, at the end of
the day, we need to makesure you're a fit for us as well,
and your expectations are clear and you'renot looking for too much. At

(01:41:16):
the end of the day, justremember this, folks, when Nico was
still sleeping in Melrose, New York, town of scattic Cook. Though I
was up, I was listening totown town of Scotty Cooke. There's no
town to Melrose. It's not ascattic Cook. I lived up there.

(01:41:36):
But the bottom line is this,Okay, don't put yourself in a position
in retirement that you got way toomuch money pre tax, pre tax.
Okay, even though you got topay a little bit of tax now,
it's long term because of the growthof four oh one K four oh one
k ROTH and four oh one Kpre tax. The ROTH is extremely beneficial

(01:42:01):
because that's tax preference money and theroth IRA as long as you qualify for
it. You know, this guytalked about the backdoor roth today, which
basically allows you to do it,but you got to jump through a lot
of hoops. You got to doa traditional IRA and then back it into
a roth. You know, there'sother solutions out there, which I'll talk

(01:42:24):
a little bit today at twelve twelveto one Eastern Standard time about different ways
that you can allocate money during youraccumulation years. They give you a lot
of tax preference when you retire.Yeah, so there's a lot of conversations
to be had, a lot ofconversations to have about your retirement, and
you want to make sure you're havingthose conversations. Typically we say the red

(01:42:45):
zone is three to five years outfrom retirement. I think it's longer.
Yeah, I've changed the five toseven because the sooner you get going,
the happier your retirement's going to be, the less stress you're gonna have.
And you're gonna be getting there,you know, with your bucket, your
cash bucket already filled, especially ifyou're fifty nine and a half. What's

(01:43:06):
the most critical time into retirement iswhat point of entry. Yeah, the
day that you walk into retirement,you better have your eggs all in order
in your bucket, some money setup, because if you don't, you're
rolling the dice with point of entrywhether it's going to be a bull or
a bear exactly. And if you'resomeone that is fifty nine and a half,
you may be eligible for an inservice distribution. We could start managing

(01:43:27):
those assets for you if your planallows a rollover out of it. And
then again we could set up aself directed IRA account start managing it in
a way so that we create abucket of cash that will send out to
you on a monthly basis right atyour retirement age. So what are you
doing today? I was thinking gettingon on the tractor. I don't know.
There's college football, there's a lotof college football. I watched the

(01:43:50):
Kansas game last night. That thedaughter I think, my daughter I think
is at the Syracuse game today.So listen, everybody, God bless If
we can be of assistance, itwould be a privilege to help. You
would be an honor. Give usa call. Be safe today and we'll
see you next week. The informationprovided is for educational informational purposes only.
It does not constitute investment advice andit should not be relied on as such.

(01:44:14):
It should not be considered a solicitationa buyer or to offer as sales
security. It does not take intoaccount any investors particular investment objectives, strategies,
tax status, or investment horizon.You should consult your attorney or tax
advisor. Thank you for listening tothe Retirement Planning Show hosted by David Kopeck.
If you would like to talk withDave or someone at the Retirement Planning
Group called five eight five eight zeroone nine one nine that's five one eight

(01:44:36):
five eight zero one nine one nineduring business hours, or visit us at
RPNG retire dot com. The RetirementPlanning Group has three convenient offices located in
Albany, Malta and Glens Falls.Retirement Planning Group LLC is a registered investment
advisor. David M. Kopec isalso a registered representative of PERSH Gaplin Sterling

(01:44:56):
Investments Inc. PKS in their separatecapacities. A redis representative of PKS.
David M. Kopeck may recommend theimplementation of securities through pks instead of retirement
planning Group LLC, PERSH Kamplin,Sterlin Investments, and Retirement Planning Group LLC
are not affiliated companies. Tune inagain next week for Retirement Planning Strategies with
David Kopeck on the retirement planning