Retirement Planning Show

May 3rd, 2025

Episode Transcript

Speaker 1 (00:03):
Live from the wgy iHeart Studios. Welcome to the Retirement
Planning Show with your host Dave Kopec from the Retirement
Planning Group. Every week, Dave and his team discuss the
ways they can help people make informed decisions about a
wide array of retirement planning information that can support you
in developing a more certain financial future for you and

(00:23):
your family. Now it's time for Dave Kopec and the
Retirement Planning Show.

Speaker 2 (00:54):
Sadday, right morning, Good morning. It's funny you guys played
that because I just saw Chicago on PBS this morning.

Speaker 3 (01:16):
Saturday.

Speaker 2 (01:17):
Zachary so quite the band. Good morning, It's Saturday. I
got up this morning and I looked at the weather
because it rained like cats and dogs last night. I'm
sitting here on Latham, New York, so wherever you may

(01:39):
be throughout the country, it's sunny, not really cloudy. But
if I look at the weather forecast, it's supposed to
rain today, Sunday, Monday, Tuesday, Wednesday, anthirdy Oh, isn't that great?

(02:07):
Every day we're supposed to get rained. The worst is
like fifty percent. Today, it's at seventy percent tomorrow, seventy Monday,
seventy Tuesday eighty. So, like I said last week, hopefully
this is not going to be a summer that's going
to be like two years ago or every weekend it rains.

(02:28):
Please God, my yard is already. If you have a
yard that has clay in it, you know how difficult
it is to get through it. My tractor likes to
get stuck. So Upstate New York it is a beautiful,

(02:49):
beautiful place. But boy, I'll tell you what, the weather
sometimes can really be a drag. A couple things. WGY
had their telethon for the Children's Hospital at Aubny med
I think they broke a record, if I'm not mistaken.

(03:11):
I stopped down made a contribution for the Retirement Planning
Group from the Retirement Planning Group, and I had the
opportunity to meet Dave Allen, who was one of the
morning guys new to WGY, and they really did an
unbelievable job. So I tipped my hat to WGY because

(03:33):
they raised a lot of money. I believe over three
hundred thousand dollars if I'm not mistaken, But I'll wait
until I get more data information on that. So you know,
I dated a girl many many many many moons ago
when I was going to see in a college who
was in the collegey nurse and she used to work
in children's of collegey and to say that's hard to

(03:56):
do as kind of an understatement. So make a long
story short. You know, counter blessings, You've got your health,
you got everything. Everything else is just you know, cherry
on top the seminar. We are blowing the doors out
for our seminar and I'm going to give out the

(04:16):
information today. I would say probably no later than next week.
We will be filled. But if you're going to go,
this is a presentation that we're doing like we did
last year with the pier O'Connor and Strauss law firm.

(04:37):
Lou's going to speak and I believe Aaron Connor will
also speak. I'll speak, And when is it. It's May
twentieth at the Crown Plaza Hotel, which is if you
remember the Desmond and it's Tuesday, May twentieth. Registrations at
five point thirty. They do a phenomenal job. They'll have

(04:58):
a great dinner, will probably start around six point thirty
and usually get you out of there in about an
hour and a half. So hopefully you'll be out the
doors by eight o'clock. We open it up for Q
and A. But if you want to attend, it's critical
that you go two different ways. And I'll do this
a few times today because we've had some people call

(05:20):
the office and I mentioned to Jim and the staff
that I would overemphasize it today. You can go to
www dot Wgyseminar dot com. You click it if the
thing comes up are you a robot? So you got
to click to say no, I'm not a robot, and

(05:42):
you'll get into the website in order for you to
register name, email, phone number, zip code, number of attendees,
and if you have a gluten free request, we will
do our best to facilitate that. So this is a
seminar that's basically to go over different ways in order
for you to manage and protect your assets during your

(06:06):
retirement years. We've had great success with this in the past.
Lew and his team do a great job, and as
I've always said, it's a great way for us to
get out and meet some of the individuals that listen
to the show. But May twentieth at the Crown Plaza Hotel,
if you want to attend you got to go to
the website Wgyseminar dot com. That's www dot wgy Seminar

(06:32):
dot com and make sure you click the little thing,
the little box that you're not a robot, and you'll
be able to walk your way through it pretty easily.
If you want to call in, I'll give out that
telephone number two, but preferably you're better off, folks if
you just go to the website. It's easier. It's easier,

(06:54):
but I will give that out in order for you
to call if you wish to call, but I'm not
going to do it now. I'll do it later in
this first hour. So what do you think of the week?
Dow was up three s and P five hundred was

(07:15):
up three NASDEK was up almost three and a half percent,
So you know, everybody that had their hair on fire
a couple of weeks ago, you're probably feeling a little
bit better about your portfolio. Dow's down about three percent,
SP's down three percent, and nasdak's down about six percent.
You're to date, so overall overall, you know, we're getting

(07:39):
the bounce. As I've always said, don't try to time
the market. It's time in the market doesn't work. So
for people that went to cash, you've missed a huge
rally in the market, well over ten percent. So you know,
we'll talk a little bit about what is going on,

(07:59):
but you know, as we're all quite well aware, I
don't have to tell you what's going on. It's called tariffs.
But I said last week and I had a guy
call me, he said, what are you nuts? You know,
tell you read and you're looking at I said, listen,
because I don't think we're going into a recession. I

(08:22):
think that the countries need us more than we need them.
These tariffs are already having a dramatic impact on other nations,
specifically China. There's rumors going around that there's been riots
inside some of the factories. So the key question, of course,

(08:44):
is the mother's milk of investing, and it's called what
earnings or the anticipation of earnings or something that's unique
and different, right, and overall, earning's growth as surprise to
the upside. So we're getting good numbers, you know, if

(09:05):
you look at the stocks and what the earnings announcements were.
Overall stock markets have rebounded. The S and P five
hundred is up about eight percent, right, since we've had
this gyration over the last week. So sentiment I think

(09:25):
going into the rest of the month is the Federal
Reserve likely lowers interest rates and earnings growth will continue
to grow. That's what I think. That's my recipe what's
going to happen. So first quarter earnings is underway with

(09:48):
about seventy percent of the S and P five hundred
companies have a reported earnings already. So far, seventy six
percent of those companies have reported positive earnings surprises, right,
so you know guidance for some He said that, you know,

(10:08):
it's not clear until they get the tariff situation out.
But believe me, folks, this is not going to last
for an extended period of time. The media, the mania
what I call it, the mania media is going to
drive this up. Right. So bottom line gets down to
is that there will be a resolution, as there is

(10:30):
with everything and overall, Bernie's growth was resilient for the
first quarter, and I think it's going to continue to be.
You know, I gasoline up by my office right now
is two dollars in sixty seven cents. I haven't seen

(10:50):
that in a long time to sixty seven, So there's
a lot of things if you look at the numbers.
I just heard on Bloomberg when I was driving here
to the studio because I love their data and information,
is that the numbers are not telling us that we're
in trouble or headed to our recession. Quite the opposite,

(11:15):
Quite the opposite. So what does that mean? That means,
you know, sometimes you look back at history, History has
a tendency to repeat itself. What happened under his previous administration, Trump, Well,
inflation was about one and a half percent right until
COVID hit. We had a pretty strong economy. We were

(11:37):
really clicking at a pretty good pace. So economic growth, right,
I think we're worried about something that we don't have
to worry about personally. Labor market continues to show resilience.
Numbers came in stronger than what they expected, right. Health

(12:00):
job market likely creates less urgency for the Fed to
go crazy with the interest rate cuts, but I think
they will. They'll cut next, meaning I think the Fed's
gonna cut so while we expect them to cut two
to three times this year, who knows on a historical basis.

(12:21):
You know, everybody got juiced up on these low interest
rates Like a crackhead. Everybody thinks that we want to
have one or two or three percent interest rates. Again,
it's not gonna happen. It's not gonna happen. We will
have lower interest rates, but I think you're going to

(12:43):
go back to the norm, not abnormal rates like we
had when basically when you went to the bank and
they paid you nothing, you just wanted it there because
it was going to give you safety. Do you really
want to go back there, here's my money, don't pay
me anything. I just wanted at the bank. We're going
to take a first break over you right back the

(13:10):
eighty six percenters. Do you know 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 create a paycheck for the rest of our lives
in retirement. What is your plan for retirement income distribution?
How you manage your assets during the most critical years
of your lifetime. Nobel Prize winning economist William Sharp has
called retirement income distribution the nastiest, hardest problem in finance.

(13:35):
He points out that investment uncertainty and mortality can derail
the most careful laid out retirement income plan. Call our
offices today to start the process of building a retirement
income distribution plan. After forty one years of being in
the financial services business, you need to start taking action
to start building your own personal retirement income distribution plan.

(13:55):
How do you do that? To take action? Five eight
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eight zero one nine one nine or RPG retire on
the web. Don't procrastinate, motivate to start building your retirement
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one nine. Will you run out of money in retirement?
Will your investments provide income for possibly decades? How do

(14:17):
you navigate the two greatest risk in retirement sequence of
returns in longevity at the Retirement Planning Group. Our Bucket
of Money approach addresses these concerns and we offer a
complimentary consultation to discuss this with you. Call our office
today for a free complimentary consultation to develop your own
personal retirement income distribution plan at five win eight five

(14:37):
eight zero one nine one nine. That's five win eight
five eight zero one nine one nine. You know how
was meant to be? All right? We are back. I'm

(15:07):
Dave Kopek, your host. This is the Retirement Planning Show.
My good friend comrade, one of the associates, Chris McCarthy,
will be here at eight o'clock to discuss some of
the things that we're working on at the Retirement Planning Group. Again.

(15:30):
We are having our seminar May twentieth at the Crown
Plaza Hotel. It's pretty engaging and informative. I think. I
think lou Piro and his team do a phenomenal job.
It's designed to specifically educate you and help you and
prepare you for the uncertainty that a lot of us

(15:52):
have for our retirement years. It's May twentieth. Registration's at
five point thirty. It's at the Crown Plaza, which was
formerly the Desmond How do you attend www dot wgy
seminar dot com and you're gonna have a little box
there will come up that you're gonna have to click

(16:12):
that says you're not a robot, and then you go
in there and it's really simple. Even I can do it.
The dinosaur can do it. I can go in actually
fill this thing out. So we would love to have
you participate, but I can tell you right now it's
gonna fill up quick, just like it did last year.
I think we're three quarters of the way filled already

(16:34):
and we've only been talking about this for about a week.
So again, if you want to attend, if you want
to attend, get a going, Get a going, www dot
wgy seminar dot com. You know, I've been talking a
little bit about this uncertainty that we've had in the markets,

(16:58):
and uh, you know, one of the things that I
try to overemphasize two individuals. I had a great meeting
with a gentleman this week, actually yesterday that's been in
the businesses almost as long as I have, so we've
seen it a lot. We've seen financial crisis, we've seen
flash crashes. We saw in October when the market was

(17:22):
down almost twenty three percent in one day, you know,
nine to eleven, all of it. And the bottom line
gets down to is that how you set it up
on the front end is critical, what I call point
of entry. And it's funny, my son and I were

(17:44):
in a conference yesterday, Christopher William and we were sitting
at the table with Nico and the rest of the gang,
and we were talking about the markets, and he said
missus Apple. Her money just came in the other day,

(18:07):
like a week ago, and her husband's money came in
from the rollover about thirty days prior. And he said,
it's amazing what the difference is as far as the return.
She's up about six or seven percent in like two
weeks and the husband is like flat because point of entry.

(18:33):
So to understand that is critical, and we talk about
it all the time, but you've got to realize it's
that uncertainty in the markets which causes, you know, draw downs,
especially when there's the mania with the media. You got
to make sure that you've got it set up, set

(18:55):
in concrete. And I'm going to talk about this at
the workshop. You know. One of the things that I
talked about with Tom, the gentleman that I had lunch with,
is that sometimes financial advisors can't satisfy what people are
looking for. We had a long chat about this yesterday.

(19:15):
And what I mean by that there's a feeling out
there sometimes that the financial advisors should have some kind
of a crystal ball and when to get in, when
to get out, and the right asset classes. I remember
about four or five years ago and we were allocating
money into recommended models that were given to us by

(19:37):
a major investment banking firm that we went out. Basically,
the models stunk. Put it politely, We had a lot
of exposure to overseas and emerging markets that they said
we needed to have, we needed to have, and the
thing is is that they got kicked in the teeth. Domestically,
we were doing fine. You know, fixed income, we weren't

(19:59):
doing fine because there was no coupon, there was no yield.
So when I say that you've got to get it
right on the front end, especially if you're going to
start taking distributions off portfolios, is an understatement. So this
uncertainty still remains elevated. I've been saying for weeks it's

(20:20):
going to be volatile. I think there's some clear sailing
ahead once we get through this tariff situation. The crazies
are already talking about impeachment again. If you can believe that,
well they're going to go three and you're out. But

(20:42):
the thing is is that sometimes you have to turn
the noise off, do a little bit of your own homework.
You know, we're value investors. Why are we value investors?
Because we want to have strong balance sheets. We want
to have strong dividends. We're not trying to shoot for them.
We're trying to have a competitive rate of return and

(21:04):
a little bit of alatility we're willing to accept. You know,
I don't want to go down forty or fifty percent.
That's not fun. But as I said, I'm overly aggressive
in my own personal portfolio, and in the past few weeks,
you know, it didn't look too good yesterday at the close,

(21:28):
I'm not that far off from where I was at
the end of the year. So I'm feeling a little
bit better about my own personal situation. But for most
of us, because we have to draw income in our
retirement years, we have to build income portfolios to satisfy
our need for income. You're going to have to try

(21:52):
to figure out what makes sense for you. Now. For
individuals that have pension benefits and sold security, chances are
pretty good that you're not gonna need right a portfolio
that's low beta, that's driven for income purposes. You're gonna
be you know, as long as you're willing to accept it,
you're gonna be able to allocate your money a little

(22:13):
bit more aggressively during your retirement years. So bottom line,
gets down to, is that Personally myself, I think that
there's a better sentiment right now, especially with the data
that just recently came out with some of these earning reports.
I think there's progress that we've seen. Wall Street's looking

(22:37):
for concrete evidence that we're starting to get these deals
with nations and specifically with China and our other trading partners. So, nonetheless,
as Tom and I discussed at lunch, keep in mind,
and I say this all the time, volatility, folks, is

(22:57):
normal in any given year. You're going to get two
to three pullbacks, especially in a year when we have
elevated uncertainty about this whole basketful of stuff, tariffs, inflation,

(23:17):
economic growth, tax policy. That's the other apple that's on
the tree right now that everybody's squealing about. You know,
Trump had mentioned that if it stays the course and
the current tax code goes away, you're going to see
about a sixty seven to sixty eight percent increase in
your tax liability. I don't think they're going to let

(23:40):
it happen. So hopefully, as I said, you've taken a
deep breath, You've had chats with your financial team, you
understand how you're allocated sectors such as financials healthcare are
probably less exposed to the tariff situation. But look at Microsoft.

(24:05):
Microsoft came out with unbelievable earnings, pretty good lookout for
the future. So there are some you know, sectors and
stocks that even with the uncertainty that's out there, that's
basically says that they're poised. They're in a good position. Diversification,

(24:30):
understand why you're allocated the way you are, and then
understanding understanding why you're allocated and how much money money
needs to come off the portfolio is critical. So we're
going to take a break for the news in about
ten seconds here, So I'm going to count it down.

(24:53):
How about if I count it down nine eight, seven, six,
four three two, we'll be back. Williams. All right, we're

(25:31):
back of Dave Kubik. Your host, Chris McCarthy will be
in at eight. I have a little chat about some
income products, and this is talk radio. If you want
to participate, you're more than welcome to call in. What
eight hundred talk w g Y. That's one eight hundred

(25:52):
eight two five fifty nine forty nine. Any question you have,
Hopefully we can help you or appoint you in the
right direction. You know, there's a report that just came
out and it talks about how many retirees currently have
financial stress currently in retirement, and it's actually kind of

(26:21):
a it's actually a kind of a not a good
good figure And it's a condition that arises when your
current income, of course, is what inadequate to sustain your
financial responsibilities comfortably. So if you're living paycheck to paycheck,

(26:45):
you may feel too, you know, your optimism about your
finances is negative that you don't look at any improvement
in the near future, and it can cause kind of
a funk, and we see it. We see it with

(27:05):
individuals that come in and have a chat with us.
We had a woman that came in this week that's
really in a horrific situation, and one of the things
that we try to do is to try to figure
out is there a magic wand is there something that
she's not looking at in order to facilitate the ability
for her to have quality of life and get out

(27:27):
of this stress that she's living in. So, if you're
feeling the pressure to keep up with the everyday expenses,
eighty percent of Americans, regardless of their income level, eighty
percent of Americans, regardless of their income level, are worried

(27:52):
about the affordability of every day living expenses. So when
we talk about building out a plan, most individuals that
we meet with are flying by the seat of their pants.

(28:13):
You haven't adequately prepared not only your plan, but your
finance is before you actually walk out the door into
your retirement years. You know the old saying, I can
get so security and get so security, I'm gonna go
get it because I don't think it's gonna be there.
That's not good, folks, that's not good. And according to

(28:36):
the study, almost half of American households forty five percent
that decide to retire at age sixty five will run
short of money during the retirement forty five percent. Who's
that by morning Star, pretty major investment banking firm in

(29:02):
our industry, morning Stars Center for Retirement and Policy studies
A lot of this data I get because the name
I'm our door is the retirement planning group. The study
found that participating in your four one K plan and
getting the match the contributions that your employer gives to
you can help can help hopefully prevent some of these shortfalls.

(29:31):
So if you're feeling stress okay, and you're not feeling
good about your future. Right, no time, there's no time
to waste. You got to get motivated. You got to
get going because first and foremost, retirement shouldn't be mental

(29:53):
stress and physical health, which ultimately becomes worse because of
your frustration and negativity about your own personal finances. TIAA right,
that's the organization. If you're in college education, if you're

(30:17):
with universities, TIA managed still does billions of dollars. They
found that having a lot of debt going into your
retirement years is associated with high anxiety, depression, and anger

(30:43):
contribute to a feeling of hopelessness and despair. So what's
my message to you To stop worrying about this. You
have to have a plan. You have to think outside
the box. You have to have a budget that is affordable.

(31:05):
You've got to start analyzing your expenses. Credit card bills
what I call the cancer for most people that get
into financial difficulty, it's that little plastic thing in your
left rear pocket or in your purse. You might have
to make some adjustments and modifications in your lifestyle. Right,

(31:29):
look for state and federal programs that are available to
you right in order to pay for healthcare, in order
to pay for any type of assistance that you might
help you may need for heating, will cooling costs, they're available.
And the big thing is find a financial advisor. Find

(31:55):
a financial advisor that can basically guide you through this
difficult time. But that number, folks, I almost fell off
my chair. Eighty percent of individuals right now are feeling

(32:18):
some form of financial stress eight zero. So if that's
your situation, we offer a complementary consultation. We've got five
locations right now. We've got Syracuse Downtown, Aubany at eighty
State Street, our corporate headquarters in Multa Slash Saratoga, Glen's Falls,

(32:44):
and of course Oneana. But the bottom line gets down
to is that you know, we all know that your
health is extremely important. Then I know because I've seen it.
I've seen the expressions on individual faces when they come
into our office and I know that they're not having

(33:05):
a good retirement because they have a financial crisis that's
causing stress, anxiety, and depression. There are things you can
do that can alleviate that. Sometimes you have to take

(33:27):
the pill. What's the pill? The one that's hard to swallow.
Sometimes you have to do things that you don't necessarily
want to do. You know, we're going through a situation
right now with a woman who's a sweetheart, her heart
she wears on her sleeve, and she's going through a

(33:47):
very difficult time with one of her family members by
dollars and cents that she loaned this person in essence
for them to build a home. It's going to be temporary,
but it wasn't temporary, and their thought was that they

(34:08):
weren't going to pay it back to their mother. And
we had to have some difficult conversations basically saying to
this woman, you know, you're not in a good You're
not in good shape right now financially. You need that
money in order to have quality of life. Not only

(34:30):
quality of life, but peace of mind. So if you
find yourself in a situation where a lot of times
it's a situation where you're asset rich in cash port.
I met with a guy in Sarahtoga Springs yesterday. He

(34:52):
is a businessman that is having a hard time right
now competing in this new global world that we live in.
He has a very successful business right there on Broadway
in Saratoga Springs. We'll mention the name of it. But
he's going to have to do something that he never
thought he was going to have to do. He's going

(35:13):
to have to sell the building. Doesn't want to sell
the building, but he's going to sell the building because
he has inadequately saved for his retirement. And that's the
golden goose. And I don't have to tell you anything
on Broadway in Saratoga Springs is worth a whole hell
of a lot of money. But he has the financial
security because he has that blanket. And our conversation basically

(35:39):
said is that his well being. As long as he
can configure the sale properly, he can continue to stay
in there for the amount of years that he wants
to continue to work. His problem is continuity. How do
I and this is not uncommon a lot of the
business people that we meet with, we'll say the same

(36:02):
thing over and over and over again. I'm really trying
to figure it out. What are you trying to figure out?
I'm trying to figure out something happens to me, what
happens to the business, what happens to my family? How
do I get equalization? How do I basically make sure
that my wife is protected or my husband's protected. And
to be honest with you, folks, sometimes these are very

(36:25):
very difficult conversations. Sometimes the children in the family all
have different answers to what the kids are for what
the parents should do, and sometimes it ends up in confusion, tension,
and anger. So be mindful. Be mindful that there's a

(36:46):
lot of people out there right now that are facing
stress and anxiety about their personal situation. And if that
is the case, I highly recommend that you pick up
a telephone and you call the Retirement Planning Group and
commit to have a chat with us. A lot of
people that we meet with, we don't do business with

(37:10):
because they either have unrealistic expectations on what we can
do for them, or we just know that they're in
a situation. They're in a situation where they're being taken
care of very well by their financial team that they're
currently working with. But that number two thoy twenty four

(37:35):
analysis from the National Council on Aging found that eighty
percent of households with older adults forty seven million, are
financially struggling or at risk of falling into economic insecurity
as age and it's getting worse. It's not getting better.

(38:01):
You know, if somebody says to me, I want to
go to Florida and live in Florida, go look at
the condos right now in Florida and what they are,
what they're paying in HOA fees. They have skyrocketed, the
taxes have skyrocketed on properties. So there's a lot of

(38:24):
people that are in Florida right now that are really
starting to get stressed out. Why do I know this
because we have a lot of clients in Florida, and
what's their stress all about? If I have to sell this?
Can I sell it? If I have to sell this
property in order for me to have quality of life,
am I going to be able to sell it? Well,

(38:44):
for a lot of people, you might be able to
sell it, but it's not going to be anywhere near
what you thought it was worth if you go and
look at condos on the east coast of Florida. I
don't know too much about the west coast because I
haven't been there too much in the last six to
twelve months, but my wife and I were in Florida

(39:05):
for a couple months this year. There are fire sales
going on right now. With condos and any publication that
you're looking at about homes and properties in Florida. Buyer beware,
buyer beware. Make sure you're doing your homework. But when
I see HOA fees that are as high as almost

(39:26):
three thousand dollars a month, then you got the taxes
on top of that, you're paid over fifty thousand dollars
a year just for your basic expenses for the house.
And that's with no mortgage. We'll be right back the

(39:48):
eighty six percenters. Do you know 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 create a paycheck for the rest of our lives
in retirement. What is your plan for retirement income distribution?
How you manage your assets during the most critical years
of your lifetime. Nobel Prize winning economist William Sharp has
called retirement income distribution the nastiest, hardest problem in finance.

(40:13):
He points out that investment, uncertainty, and mortality can derail
the most careful laid out retirement income plan. Call our
offices today to start the process of building a retirement
income distribution plan. After forty one years of being in
the financial services business. You need to start taking action
to start building your own personal retirement income distribution plan.

(40:33):
How do you do that? To take action five one eight,
five eight zero one nine nine. That's five one eight,
five eight zero one nine one nine or RPG retire
on the web. Don't procrastinate, motivate to start building your
retirement income distribution plan five win eight five eight zero
one nine one nine. The greatest risk in retirement most
of us have no plan for We're insurance to cover

(40:55):
the expense. A long term care event can impoverish your spouse,
drain your life, and cost stress and anxiety on your family.
What is your plan and how will you pay for
a long term caravent? Call the Retirement Planning Group today
discuss options you should consider to protect your estate and
have choices and independence. Take action call today five eight

(41:15):
five eight zero one nine or RPG retire on the web.
Take me go to your hand. No, all right, we

(41:41):
are back. I'm Dave Kopek, your host. This is the
Retirement Planning Show. All the conversations that I've had recently
with people down in Florida that are there, they say,
get a key, don't buy get a key because of

(42:08):
the dynamics of what's happening there right now. Now. Certain
areas are different, of course, but if you're doing the
condo thing, make sure you're dotting your eyes and crossing
your t's. Are good friends at GP Morgan. They'd come
out with a guide to retirement and they basically said,

(42:33):
which we say consistently, you should build up about six
months of income and basically have as your nine to
one to one portfolio. You can do this a lot
of different ways. You can receive, you know, some kind
of a Social Security payment, set it aside if one
of you you're not using your entire benefit. You know,

(42:54):
that's another thing that's positive that could possibly come out
of this administration, which a lot of people people or
optimistically waiting, is that Social Security will not be taxed
at all. And I think that that would be a
big boost for a lot of seniors that are currently

(43:15):
out there. You know, there's nothing worse than to be
in a situation where you have some kind of a
shock to your family or you know, you've got to
have significant amounts of money that you have to come
up with in a short period of time, and you
know whether it's something to do with the house health issue,
God forbid, if it's a long term care need. But

(43:39):
like I said, I've had Dreuila on here numerous times.
There's a lot of people out there that are asset
rich but cash poor. And I asked him the last
time he was here about reverse mortgages, and just to
let you know, folks, we don't make any money on
reverse mortgages. But for some of you that are listening
to the show, that are biting your fingernails, that own

(44:03):
the house, it's a piggy bank that you're not using.
And there's a lot of different ways that you can
get into that piggy bank, and you can utilize that
money for your health care needs, for loss of income
that you've had with your purchasing power since you're retired.
We got a lot of clients right now in their
eighties and nineties. I mean they've been retired for thirty

(44:26):
forty years some of these people. So you know the
cost of goods and services healthcare, I mean that's the
big thing. You basically have to go into the doctor
and you know, beg and plead you know what kind
of a payment plan can I get here in order
to you know, get some healthcare so you can negotiate

(44:49):
lead or not with your care provider and hopefully that
will basically allow you to take your balance what's owed
and it makes it affordable. I know, gentlemen, right now,
hard work and savor works. His tailoff basically had bills,
medical bills even though he's got health insurance at thousands

(45:14):
of dollars and medical bills. He asked for a payment
plan because it was not something that he could just
magically appear to pull thousands of dollars out of his savings,
which he didn't have that much of. So what do
we have to do? We had to basically go into
his four ohwe K to borrow against his four owe

(45:34):
K in order to satisfy some of the things that
he needed to pay for. So financial trauma for a
lot of us. You know, some of us have been
extremely blessed. Some of us have basically have you know,

(45:56):
sometimes people will say, I can't believe that this is
where we're at. At some individuals from Johntown, Gloversville, they're multimillionaires.
They have numerous businesses. And one of the things that
the husband said is that I just can't believe that
I've been this fortune in my lifetime. Well, I said
to him, I said, you know, it's amazing how hard

(46:18):
you work too, isn't it so? For you that are
listening to the show. We have people sometimes that don't
call us because they feel they're embarrassed or they don't
think that they have enough net worth to come in
to have a chat with us at the retirement planning group.

(46:39):
And as I said, I don't care if you got
ten dollars or ten million dollars. If we can help
you alleviate the financial stress in your life, don't feel
ashamed or embarrassed about it, pick up the damn phone.
Call us, because whether it's Nico, myself, Christopher William, Chris McCarthy,

(47:01):
we're more than happy to sit down with you and
see how we can help you. Don't feel that you
should be ashamed or embarrassed about your own personal situation.
We might be able to find a solution to put
you in a better spot. So we get paid to do.

(47:25):
We get paid to help people basically put them in
a better spot in order to facilitate not only the
retirement that they desire, but maintaining your mental and physical health.
When Julie and I started the business, she looked at
me sometimes like I was insane. I didn't have the

(47:51):
golden goose. I didn't have somebody that could go to
and say, hey, listen, give me one hundred thousand dollars,
because I'm building out of business here. So I use
oh those great little things that these come in the
mail called credit cards. And Julie did everything. She was
like a magician, flipping and flopping those things around to

(48:13):
basically get us the money that we needed. Because I
knew that if I stopped, I was dead in the water.
I had to continue in order to move forward, in
order to reach my goal, my objective. So you know,
when I saw this today, I know that there's people
that are listening today that are either in a situation

(48:35):
where they might feel uncomfortable coming in. I want to
let you know, Okay, you don't have to have five
hundred thousand dollars to talk to us. You don't have
to have a million dollars to talk to us. You
can have five dollars and you can come in and
talk to us. Okay, don't be embarrassed about it, because
it impacts everyone crossed all ages and tax brackets, and

(48:58):
it's mentally and physically draining. Been there, done that. So
as we all know, we all have our own personal
experiences with money, right negative. I mean, we had a
gentleman I'll never forget it, came in. He was a

(49:23):
GE executive, did extremely well. He had a pension from GE.
I said to him, are you going to take the
survivor option for your wife? Hell? No, Well you do
realize that if you pass away, there's no benefit for

(49:45):
your wife. Yeah, I know, But she's got all this
GE stock and she's going to be fine because GE
is such a diversified mutual fund in it itself, so
she'll be fine. She doesn't need any kind of a benefit.
We're going to maximize it. Well, if you're going to

(50:05):
do that, you should buy some I'm not buying life insurance. Well,
you should buy life insurance and protect your wife. So
if there is an event, she's got the GE stack.
Well what happened? He died prematurely. GE tanked. The woman

(50:26):
came into my office when we had a conference room
and office on Wolf Road, and she couldn't even get
the words out of her mouth before she started crying hysterically.
The situation that she was in. Know what you ownt,
know your plan. If you want to fly by the

(50:49):
seat of your pants and not have a parachute, so
be it. That's your situation. But the problem is is
that the people that suffer are the ones that do
not make the decision. Sometimes this woman had to sell
her house over in Schenectady, probably liquidated most of the
ge stock when she least was supposed to do it

(51:11):
because it was down so much. And to make a
long story short, she had to move in with her daughter,
which she did never wanted to do. She never wanted
to do. So I'm going to say this again. Okay,
then I'm not going to beat the horse anymore. We

(51:31):
can help you, at least we can help you analyze
your situation. If you feel like you're struggling, if you
feel like you're stressed out, if you feel like you're
in a high anxiety about your own personal situation, having
someone to talk to okay, will help you maintain some
sanity your mental health, and hopefully we can put you

(51:54):
in a position where you can get on that yellow
brick road and you can go way down the street
and live happy forever. So call my office five one
eight five eight zero one nine one nine. Check us
out on the web rpgretire dot com. We're here to help.
I'm Dave Kopek. I'm the president of the Retirement Planning Group.

(52:16):
When we come back, we're gonna have my good friend
Chris McCarthy and uh, we're gonna talk a little bit
more about retirement.

Speaker 1 (52:28):
Live from the wgy iHeart Studios. Welcome to the Retirement
Planning Show with your host Dave Kopec from the Retirement
Planning Group. Every week, Dave and his team discuss the
ways they can help people make informed decisions about a
wide array of retirement planning information that can support you
in developing a more certain financial future for you and

(52:48):
your family. Now it's time for Davekbec and the Retirement
Planning Show.

Speaker 2 (53:19):
All right, we are back. They're on PBS Chicago. I
watched them the other night. Did you see him on PBS?
I did not, but I saw him person twice. I
saw him once. Very good. I got your beat, Well,
you always got me beat. I do what I can.
I'm getting fat and ugly.

Speaker 4 (53:38):
You're kidding, only only kidding. I get no respect. Uh,
a couple of things. Chris McCarthy's here and Chris Kopek
is here, so we're going to talk about a couple
of things here I wanted to discussed. But first I

(54:00):
want to go over the May twentieth at the Crownplaza
Retirement Planning Group in conjunction with the Pure Law Firm
we're doing We're doing our workshop again. It's I'll tell
you you know, I hate to say this, but if
you don't, if you don't attend, you're doing yourself a disfavor.
It's a it's a great night. Lou and Aaron are

(54:22):
great speakers, phenomenal and we go over how to manage
your assets. They go over how to protect your state,
your legal documents. So if you want to attend, five
point thirty is the registration. Dinner will probably be served
around six. It's at the Crown Plaza, which is formerly
the Desmond Hotel, right next to the airport. May twentieth
at the Crown Plaza. If you want to attend, you

(54:44):
better get a going.

Speaker 2 (54:46):
How do you do it? You go to the web
www dot wgy Seminar dot com. Www dot wgy Seminar
dot com and there's gonna be a little box there.
That's gon basically say or you were a robot, Just
check and say you're not a robot, and you'll go
go right there. There's one, two, three, four or five.

(55:07):
There's six fields name, email, phone number, zip code, number
of people and do you need a gluten free dinner?
But you went last year? What'd you think of it
last year? Very impressed? Who was better speaker? Me or Lou?

Speaker 3 (55:22):
Oh well you used on my paycheck? You are amazing,
amazing step petting me seriously. It was it was impressive.

Speaker 2 (55:34):
Yeah.

Speaker 3 (55:34):
I thought the Crown Plaza Desmond did a fabulous job
they do. It was wonderful. The people were great and
I met a lot of wonderful people. Quite a few
became clients. I thought Lou did a very solid job,
as well as you and Nico.

Speaker 2 (55:51):
I think Lou Piro, in my opinion, is probably one
of the best public speakers at what he does. Aaron
does a good job too, but kind of Lou runs
with it. He's extremely knowledge extreme. I'm just going to
say that, extremely knowledgeable. So we look for if you
want to attend, that's going to be May twentieth, don't delay.

(56:12):
If you're going to attend, you better get going because
it's almost sold out already May twentieth at the Crown
Plaza Hotel, which is a former Desmond You register at
www dot WGY Seminar dot cop. We're doing this conjunction
with the Pure Law Firm Retirement Planning Group, and of
course are good friends here at w g Y and

(56:34):
I want to tip my hat. They had an unbelievable
telethon this week for the Children's Hospital at Albany med
so it's they're very involved in the community. And you
did okay good, I thought you you know. Let me
ask you a question, Chris, you went last night to
see who Jane gillis? And what is that the comedian?

(56:54):
You're still you're still giggling? What is that? Who is that?
I never heard it? I don't know these people. Is
that a young guy? Yeah, he's younger, he's probably in
his mid thirties. And you sound like you had a
couple of refreshments. I did. I gotta stop drinking that
day of cooke. That's good. So you guys went out

(57:15):
with your friends and uh you went? Did you go
to dinner first or did you just go out?

Speaker 3 (57:19):
Yeah?

Speaker 2 (57:19):
We went dinner. What what did they have any other
people besides him?

Speaker 5 (57:24):
Yeah, they had a couple openers were pretty funny. Yeah,
some of them were good. Some of them were.

Speaker 2 (57:28):
But this person that you just mentioned is really good.
He can't stop smiling. Well, he had a good time.
I don't blame him. Like the first night he met Marissa.
He couldn't take the smile off his face that night either.

Speaker 3 (57:40):
He'd been Who you kidding? He's been smiling at the sin.
Come on, I hope she's listening.

Speaker 2 (57:45):
She better be. He's taking notes. See if he slips
says something. All right, what do you guys want to
go over I'm ole ears and eyes? Huh what do
you want to go over? There? Sleepy bye?

Speaker 5 (58:00):
We can talk about the job market numbers that just
came out yesterday. What do you think? What do you think?

Speaker 2 (58:05):
Overall? You know I've been saying guys that you know,
don't get hysterical here, don't get your hair on fired,
because you know markets have a tendency to overreact, which
you did. We're almost back. You mentioned something to me
which I thought, why don't you go over point of entry?
I was talking about that woman and husband briefly talk
about that.

Speaker 5 (58:23):
Yeah, as far as point of entry, like we've just
been telling people that there's no real point in trying
to time the market. You know, the best way if
you're new and you're just rolling assets over and getting
them into like a model portfolio, is to just dollar
cost average your way into it. If you're a little
nervous about their hesitant with the equity market and think

(58:45):
we could you know, turn back around on bad news
to just do you know, a set time frame dollar
cost average, whether it's you know, three months, six month,
three week, you know, it doesn't any timeframe you can
do as far as it's totally customizable to the client's
you know, risk or how much they want to be
in the equity market, or at what intervals they want

(59:07):
to get in. You know, we can get into the
bond market. Same thing, you know, dollar cost averaging your
way into it so that you're getting at different intervals
to where if the market does go down, you just
average your price down per share, and if the market
goes up, you're getting it on the way up.

Speaker 2 (59:24):
Well, for people that did that over the last few months,
that was a good strategy. What I was talking about
the husband brought his money over and he invested it,
and he's kind of flat, and she's up what six
seven eight percent already because her money came perpose it.

Speaker 5 (59:41):
Yeah, he came over and his account came over. Yeah,
he was just like, yeah, just pull it over, invest it,
do whatever you guys, fully invest it. So getting in,
you know, and trying to time like he got in
at probably the lows and now he's up like, you know,
five six percent already with this just come back in
the market.

Speaker 2 (01:00:00):
Uh.

Speaker 5 (01:00:00):
Yeah, we're dollar cost averaging her and she's maybe up
one or two.

Speaker 2 (01:00:07):
Do you hear my summary here that the data that
just came out in regards to the amount of people
that are having financial stress and retirement, Well that's do
you do you see that in a lot of meetings
stars people that are Uh, I mean the number is
pretty staggering. It's eighty percent. Answer your question, yes, I mean,

(01:00:30):
I think eighty percent of Americans, regardless of their income level,
are worried about the affordability of everyday living costs eight
out of ten.

Speaker 3 (01:00:40):
But the beautiful thing is when we get people into
our office and the way we do things, especially when
we put them up on the money, and that's where
a lot of people I love the two reactions. Either
the eyebrows go up because they're doing better than they thought,
or it's a sigh of relief like well can to
be okay? And then special Ko go into a lot

(01:01:04):
of the different models that we put together and use.
We've been getting people into the bond market for all
over you now, and it's not that we have a
crystal ball. There's an opportunity in about bond market. We're
taking it. Yeah, at the same time, many of our clients,
I don't think we had the phone ringing off the

(01:01:24):
hook at all.

Speaker 2 (01:01:25):
No, we didn't.

Speaker 3 (01:01:26):
A lot of people understand that a lot of things
in the economy are good financials, earning, there's a lot
of positive stuff.

Speaker 2 (01:01:35):
Well, I just I just heard. I was just talking
about this on the way down. Bloomberg had a report
and they're basically saying the analyst that was talking from Bloomberg,
so all the data is just the opposite of the
what the mania is. You know, everybody says that we're
going into recession and things aren't good. All the numbers
are coming out better than expected and there's no there's

(01:01:56):
no headwind here that you know that we think that
we're going in and the news is everybody's coming to
the table now to basically negotiate.

Speaker 3 (01:02:05):
These tariffs, right, And I think you know, the administration
has accomplished one thing for sure, They got a lot
of people's attention.

Speaker 2 (01:02:14):
Right.

Speaker 3 (01:02:15):
So the thing is now we're getting to the drawing board.
They're negotiating, you know, as they should. It's going to
be turbulent at times. It's something new. It hasn't been
tried in what eight years, right, seven years?

Speaker 2 (01:02:31):
Well, I know is that I go back in history
and I know that his numbers when he was president,
as far as inflation was almost non existent. Up by
you which you have the cheapest gas of anywhere in
the Capitol District region. You can get gas now in
Boston's spot two dollars and sixty seven cents to sixty
seven I know, I know, which is beautiful.

Speaker 3 (01:02:50):
You know that to me is a very positive sign
that things are getting better.

Speaker 2 (01:02:55):
Yeah. Yeah, So the stress I think the stress law, well,
when we talk a little bit about it, you know,
when you talk about eighty percent of the people, and
what I try to overemphasize is that the money which
you do a lot of work on Chris e money. Basically,
the dashboard of E money gives them a pretty good
how how you can set up whether you're twenty five

(01:03:18):
or eighty five, you can set up E money right, right,
doesn't make any difference with your age, is right. So
the key thing is to get the accurate information in there,
and you could basically have a guideline or where you
want to be. Yeah, I mean that's what we tell people.

Speaker 5 (01:03:32):
I mean, use it as you wish pretty much, because
you can plug in all your information. You can use it,
you know, as to the fullest capabilities, or you cannot
use it at all. Right, We're still going to use
it on our end because we like, you know, the
projections it runs and it can give us like a
guideline as far as a spend level in retirement conservative

(01:03:53):
spend level in retirement. But the clients have access as
well to their own. They can link all their outstanding
accounts like a live feed as far as where where
they're at, you know what numbers.

Speaker 2 (01:04:05):
So let me ask you a question, if you if
I have E money, yep, and I'm not working exclusively
with the retirement planning group. I got a four oh
one K, my wife has a four oh three B.
We've got assets on different locations. We have our bank accounts,
we have our credit cards and all that. We can
take all of that data and integrate it into e money.

(01:04:27):
So here is basically a snapshot of exactly where you stand.
Am I correct? Okay? Yeah? What do you think of it?

Speaker 3 (01:04:35):
I find it very very impressive. I think people, again,
fear is created a because of the unknown. You know,
a lot of people will sit and try to analyze
the retirement so on and so forth. But until you
either put it on paper, get it up on the screen,
you're really letting fear sometimes get the better of you.
And I think we put a lot of people's minds

(01:04:57):
at ease when they see it. And not only that,
we preach about diversification, not just with investment, but the
three bucket approach, you know, so when we're we have
a solid game plan, it works. We're seeing it works. Yeah,
the clients are seeing it work. So I think, you know, again,

(01:05:20):
it's a strategy. We don't have a crystal ball. We
work hard at what we know. We meet company reps
all the time who are educating us on what's going
on not only with their company in hope that we'll
use their investment, but where.

Speaker 2 (01:05:35):
The trends are in the market. What are their internal
analysts coming up with? Right, and they help us help
our clients. It's beautiful. I love it. All Right, We
got to take a break and when we come back,
we're going to talk a little bit more about this.
I want to discuss a couple of things. Had a
lunch appointment yesterday with a good friend of mine that
I've known for over thirty years. He's been in the

(01:05:56):
business almost as long as me. And I'll tell you
a little bit about what he's doing with his book
business and get to see if you guys want to
discuss it in greater detail. But we're live. We're here
in the studios Chris McCarthy, Chris Kopec, and Dave Kopec.
If you have any questions or comments, give us a
call one eight hundred talk WGY. That's one eight hundred
eighty two five fifty nine forty nine. Don't forget. If

(01:06:18):
you want to go to the workshop May twentieth, Pure
Law Firm and the Retirement Planning Group, go to www
dot Wgyseminar dot com and you can register the little box.
I'm not a robot check that you can get right
into it. I don't know why they do that. We'll
be right back the eighty six percenters. Do you know

(01:06:40):
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 create a paycheck for the
rest of our lives in retirement. What is your plan
for retirement income distribution? How you manage your assets during
the most critical years of your lifetime. Nobel Prize winning
economist William Sharp has called retirement in income distribution the nastiest,

(01:07:02):
hardest problem in finance. He points out that investment, uncertainty,
and mortality can derail the most careful laid out retirement
income plan. Call our offices today to start the process
of building a retirement income distribution plan. After forty one
years of being in the financial services business, you need
to start taking action to start building your own personal
retirement income distribution plan. How do you do that? To

(01:07:24):
take action? Five one eight five eight zero one nine nine.
That's five one eight five eight zero one nine one
nine or RPG retire on the web. Don't procrastinate motivate
to start building your retirement income distribution plan five win
eight five eight zero one nine one nine. The greatest
risk in retirement most of us have no plan for
We're insurance to cover the expense. A long term care

(01:07:47):
event can impoverish a spouse, drain your life savings, and
cost stress and anxiety on your family. What is your
plan and how will you pay for a long term
care event? Call the Retirement Planning Group today discuss options
you should consider to protect your estate and have choices
and independence. Take action call today five eight five eight
zero one nine or RPG retire on the web. No

(01:08:27):
this one. I don't know what your name, but that's
me in the background. I'm playing that little thing bang
in the thing, ding ding ding. All right, we are back.
I'm the only kid that ever got kicked out of band.

(01:08:48):
I did. Dan Stride came up to me. Kenny Harder
sat next to me up in Scotti Coca. Who's the valley?
And we sit there and my mother wanted me to
be in band. Why. I have no idea because all
I want to do is play sports. So I started
with the trumpet and that didn't work out. So he
gave me the trombone. I started thinking, gave me the trombone.

Speaker 5 (01:09:07):
And.

Speaker 2 (01:09:09):
I remember, I don't know. I don't like where this
is going. He comes up to me because I just said,
and I went to stare at Kenny right, and wherever
his slide went, that's where mine. I wasn't even blowing anything.
There's on like three horns, right, So dance drives up there.
You know, he's conducting the band. And after bands practice
is over with, he says, hey, Copec, camere minute this,

(01:09:32):
mister Struy. He goes, I don't think bands for you,
and I thank you, mister Stroud. I don't think it's
for me either. He goes, first of all, give me
the hornback, and you just focus in on sports. And
so that's my story.

Speaker 3 (01:09:52):
Of being He did wonder his bitch of music industry,
you out of the game.

Speaker 2 (01:09:57):
Thank god. I love it. I love music, though Julie does.
So here's the conversation that I had with my good friend.
He is been in the business as long as I
He has a lot of the boomers right now that
are getting ready for retirement. They're building out their income plants.

(01:10:18):
He has become a disciple, a believer, in annuities, and
he went through annuities with me, the one that he
is currently using, which I won't mention the name, and
blah blah blah, all that stuff. But he said, Dave,
I run all the numbers. I've looked at all the statistics.
I've seen all the data, and I think it goes

(01:10:42):
back to this eighty percent. You know, there's probably people
there that have adequate amounts of money. What they're stressing
about is it going to last me a lifetime. So
what he says is, I'm basically building out. The greatest
fear for my clients is that do not have pension benefits.

(01:11:04):
And I know this will resonate with you because you've
been doing it for forty years. And I just say
to them, if you don't do this, okay, I really
don't want to work with you, because it's not fair
to you that you don't put some kind of suspenders
in a belt on your portfolio, because no one knows

(01:11:25):
what the future holds, and you want to make sure
that you've got that baseline income. And I looked down
and I said, you're singing to the choir brother, what
do you like? I couldn't agree with you more.

Speaker 3 (01:11:35):
I mean, when you share statistic like you did earlier,
eighty eight of the people are in fear.

Speaker 2 (01:11:42):
And that's not my study, that's a national study exactly.

Speaker 3 (01:11:46):
And especially when you put on top of that that
they don't have pensions. I mean, we're very blessed. We
have many clients that are state employees.

Speaker 2 (01:11:54):
Right. Well, we're kind of a unique area too because
we're the hub of the of state.

Speaker 3 (01:11:58):
Of course, but we've also have seen a number of
people that you know, have done a great job of
the portfolios. But you have one bad year in the market,
and like you said, you don't have any belts or suspenders. Yeah,
nobody likes to sell in the down market, and they should.
But when you're in these types of annuities that we've

(01:12:21):
worked with for years, it doesn't matter when you're selling
the money. Now you have created your baseline, guaranteed income
for the rest of your life, even if you've run
out of money.

Speaker 2 (01:12:32):
Right, that's the key. Now, it's the greatest hedge on earth.
People say, you know, I want to be in alternative investments.
They got to realize that an annuity is an alternative
investment because it takes away the greatest risk for most people.
And that's what baseline income. Baseline income running out of money, yep,
run out of money. So the wholesalers come in. Now,

(01:12:55):
we basically had two that we've been shaken down and
go through. I don't want to mention the name of
the company or anything like that, but do we feel
comfortable now that we've got the right apple on the tree? Chris?

Speaker 5 (01:13:07):
Yeah, after a lot of conversations in meetings with both
those guys, I feel like everyone in the office is
pretty comfortable with the the newest products.

Speaker 2 (01:13:15):
Yeah, what about you, I'll be honest with you. I
did not hear the question. Okay, the question is is
that we've been screening and scrubbing to the wholesalers that
offer annuity products. Oh? Yes, absolutely, and we've kind of
gravitated to one that we think basically gives our clients
the protection that they need.

Speaker 3 (01:13:37):
I mean, yes, you know, there's every company has a niche.
Some of the companies are a perfect fit in one scenario,
may not be in another. But you are right, there
is one company that it just mind boggling to me
how many benefits go along with this setup.

Speaker 2 (01:14:00):
Is the cost worth the benefit?

Speaker 3 (01:14:02):
Absolutely, yeah, And some of them don't even have a cost,
some of them don't have fee. But again it's analyzing
the person set up. And another thing I want to
get back to about the money.

Speaker 2 (01:14:15):
You're talking to the speaker. If you.

Speaker 3 (01:14:19):
Don't have a pension, you have just social security. Some
of these annuities that we're talking about that provide a
guaranteed income, we can put that in the money. We
can show them create your own pension. And once they
see the numbers up on the screen with everything else,
they either raise their eyebrows or they sigh and really

(01:14:42):
sure they're going to be okay. So, you know, I
think it's our job and we work hard at it,
and these company rep were so fortunate to work with
and they give us all the time and information we
need in order to do the best job for the client.
And I think it's awesome what we're what we have

(01:15:04):
out there, and what we can offer people to benefit them.

Speaker 5 (01:15:08):
And on the flip side of the coin too, you
it's not just there's products that don't just generate you know,
pension benefits. There's the people that want to be in
the equity market as well. You know, there's buffered products
where they can be in the equity market, and they're
those are kind of more structured for clients who want
equity exposure in returns, you know, like the.

Speaker 2 (01:15:28):
S and P five hundred.

Speaker 5 (01:15:30):
Uh, they want to be invested in these things, but
they don't want to, you know, withstand the downside and
they kind of want to put, like you said, a
safety net under them.

Speaker 2 (01:15:38):
Is suspend suspenders about. Yeah.

Speaker 5 (01:15:40):
So there's there's options for both type of investors. You know,
for the people that are looking for income, there's income options.
For the people that are looking for growth, there's growth options,
you know, with a buffer on it.

Speaker 2 (01:15:50):
It's just understanding which well there's ETPs now too. Yep.
There are yeah that are complicated and it's like Chinese math.
Try to figure those things out. And I've always said,
you know, if I can't explain it to the prospective
client or existing client, then I'm not going to do
it because it's just too complicated. And historically, you know,

(01:16:12):
a lot of the negativity about annuities has been you know,
they're complicated. There's a lot of expenses that are associated
with them. And that's true in the past, it's not
true today. It's not true today because you can get him.
You can get into these annuity products and the fees
are less than a managed to count through, you know,

(01:16:33):
mister Wonderful or missus wonderful, the portfolio managers. So just
you know, I go back to what I say, consistently,
know what you own and understand that nothing stays constant.
This business change and products change, and you need to understand,
especially if if you're creating a pension what you're going

(01:16:54):
to talk a lot about at our workshop, creating pension benefits,
why you need at least consider this. You know, when
I hear people say over and over again, don't buy
an annuity because it's a piece of junk, that's somebody
that is biased, that doesn't understand the products.

Speaker 3 (01:17:12):
I couldn't agree with you more. I mean, there's a
reason why everything has its place. If anudies were so bad,
they wouldn't exist. I mean, a pension plan is a
form of an annuity, you know. So anyway, I love
when you call people screaming monkeys because they always say, well,

(01:17:36):
the only reason why they're selling an annuity, and I
hate the world south is the commission. Well even that
isn't true anymore because we had the opportunity, no fee,
no fee, or try a fee, just like we would
a normal book, would your count.

Speaker 2 (01:17:53):
Well, it's just it's the it's the ability for them
to be the scream monkeys. It's a message, it's a sale,
it's sales pitch. So we're gonna break for the news
when we come back around and talk about this a
little bit more detail. Give out the telephone number again.
How to get a hold of us if you want
to question here, eight hundred talk WGY. That's eight hundred
eighty two, five fifty ninety nine, eight hundred talk WGY

(01:18:17):
eight hundred eight two, five fifty nine forty nine. We'll
be right back after this quick message. All right, we're back.

(01:18:51):
I've brought my trombone in. Oh I love of God.
You see me playing a trombone? Hell no, no triangle? Yeah,
hell trying? Yeah?

Speaker 3 (01:19:07):
Oh god, that's all we did. You know, I played
the beola for about couty minutes and forty two seconds
and I found out it was either the beola or
play sports.

Speaker 2 (01:19:17):
Even though I wasn't going.

Speaker 3 (01:19:19):
Iran, I decided I think I did a good favor.

Speaker 2 (01:19:22):
You ever seen the leper cons that go down the
street and they click their heels. When mister Stride told
me I didn't have to play that damn trombone anymore,
I was like, you know, God, thank you, Jesus, thank you.
My purse have become a reality. But it wasn't easy.
Told my mother I got kicked out of band. How
many people get kicked out of band? I think you
should have eased it. I've been relieved, my dude with

(01:19:46):
the band. Yeah you know, I'm sitting there.

Speaker 3 (01:19:52):
Without a cotton bone than you do with Yeah, you
sounded pretty good like that. Thank you, But then again
I got to hear all I'm everybody's best band cheerleader.

Speaker 2 (01:20:03):
All right, listen a couple things don't forget for those
that are just tuning in. We are doing our seminar
dinner seminar with the Pyro Law Firm preserving and protecting
your assets and creating income for your retirement years. If
you would like to attend, I would highly recommend that

(01:20:26):
you get going today. We are like two thirds of
the way full, pretty sure, two thirds So it's pretty easy.
You just go to the web www dot WGY Seminar
dot com. Www dot w gy Seminar dot com. And
you can have to talk to anybody. You can do

(01:20:48):
it on your time, and you can register. Jim, we'll
get it and we'll get a confirmation back out to
you that you're all set and ready to rock and roll.
So I want to share something with you. I got
a text from a buddy of mine during the show,
and you were talking about it in the first hour,
and I absolutely loved this about our firm. We have

(01:21:12):
no minimum.

Speaker 3 (01:21:14):
You know how many times Special K and I have
been in an appointment and we made it clear we
don't care if you got a dollar, a hundred million dollars,
You're still going to get the same attention and experience
because people that think enough of themselves to come in
and want to better their situation.

Speaker 2 (01:21:32):
Well, all, well, when I started doing radio, believe it
or not, twenty five years ago, I went to a
consulting firm and they basically said, set a threshold because
you'll ever have every Tom, Dick and Harry calling you,
and you'll spend a lot of time and you'll spin
your wheels with people that really are not going to

(01:21:52):
be beneficial to your bottom line. Then I said, absolutely,
one hundred percent no, I refuse to do that because
because if I can help somebody, whether they have a
dollar or a million dollars, I'll feel better about myself.
I'll feel better about myself. And that's always been our mantra.

(01:22:13):
You know, I've had consulting firms come in to talk
to the Retirement Planning Group. Even some of our trade magazines,
you know this will basically say set limitations. You know,
there's certain guys out there that market they only take
a million dollars or five hundred thousand dollars. We're not.
We're not that way. If we can't find time to

(01:22:36):
help you, then I don't have enough people in the seats.
So what we had our conference call or meeting yesterday
about you know, do we need to add more people? Yeah,
we do, you know, but you know, I'm gonna get
going on it. So so people understand, our Syracuse office
is really exploding. It's doing exceptionally well. So for listeners

(01:22:58):
that might be outside the five on eight area codey're
in the closer to the Syracuse you can call her
office and we can meet you out there and our
office in Syracuse and I'll be out there tomorrow or
not tomorrow Monday. You coming out with us or is
it just me and me and Chris. I'm gonna stay
back and practice trumbone, youna, the trumpone. I'm gonna do
what I can. We got a nice office, no windows,

(01:23:22):
We even have a sound proof. That's exactly I'm gonna
be bounting out for the puns. There you go, going there?
You and Lisa, Oh no, stay with operation. She won't
want to hear me. Yeah, talking about you know, our
dog has really been problematic this week. My yellow lab

(01:23:43):
has made a mess all over our house, got into
something out in the yard. So I've got people. You
got to come to the house with me because we
got to move some furniture. You and I. After this,
I did a nine one one. You gotta come clean
these carpets because it's disgusting. But I don't know what
she got in. She's she's the greatest dog on earth.
But boy, I'll tell you what, when she goes out
in the field, I like to let her run, but

(01:24:06):
I can't. I can't anymore. I'm gonna have to put
a leash on her or something because she gets into something.
And I tell you, when she gets bad, she gets bad.
So I have a hard time with that. Juli used
to be the one if the kids got sick or
anything like that, because I'd be gagging. I'd be in
the bathroom. Right. She's got that strong will, She's got
the janus, you know, Oh my god, yes, oh yeah,

(01:24:28):
absolutely believe men. Let's have a chat. She's a wonderful woman.
Sit down, let's have a chat. When you hear that
run all right. A couple of things that I want

(01:24:49):
to discuss, and hopefully we'll get a phone call if
anybody has a question or a comment about your own
personal retirement, about the seminar or the workshop investments long
term care planning. We haven't really done a lot in
the office lately as far as getting something in to
discuss the new products are out there for LTC long

(01:25:10):
term care, and I think that's something that we have
to You know, Bob Vandy is a good friend of mine.

Speaker 3 (01:25:15):
He's with Advisor Insurance Brokers. You know, you know super guy. Also,
are we knowledgeable?

Speaker 2 (01:25:23):
Are we having enough discussion about about LTC?

Speaker 3 (01:25:31):
It would not hurt us to get an update from
a Bob Bandy. I'd love it if it was Bob,
because again, you know, everything changing sometimes and you know,
it's something New York State has been very difficult in
the arena of long term cares, so on and so forth.

(01:25:53):
And that's what I love about our service because we
have no financial tide but any turn new CPA that
we recommend to client, but we're going to show people
we know enough to be dangerous and we're going to
try in every way possible.

Speaker 2 (01:26:10):
Well, the thing is is that for years you and
I had access to a policy called the New York
State Partnership for Long Term Care. It still exists, but
there's nobody, no insurance company that issues policies in New
York State. So even though the company still exists the umbrella,
there's nobody that's issuing those policies. Now. I thought that

(01:26:31):
that would change because of the higher interest rates, but
it hasn't because no one has basically been able to
do the analysis to make the policies affordable. And that's
that's the key. Maybe that's the key if it's not affordable,
and I think that that's a big disservice to the
people in New York State. Now, for a lot of years,

(01:26:52):
you used to be able to get dollar for dollar,
used to be able to get total asset protection. Now
you guys are using them what care plus matter, cares matters.
So what do you think of that? That policy, it's
that's what they call a dual value or a linked
hybrid linked benefit policy. What do you think of those?

Speaker 5 (01:27:11):
I think it's, you know, the best one that we've
seen as far as what's out there in the space.
I mean, long term care being so unaffordable, it's kind
of one of the only players that we've seen success with.

Speaker 2 (01:27:25):
Yeah, I know one thing that I like about it
is it's a cash benefit, cash cash benefit.

Speaker 3 (01:27:31):
I also think another valuable piece of it is a
lot of people always had that stigma, well what if
I never needed look at all that money? Oh, absolutely right,
But this way the policy is going to pay one
way or another, and I think that takes a lot
of the bite.

Speaker 2 (01:27:49):
D Bush, Daniel Bouchard, you still always say the one
percent rule. If you can take one percent off your
portfolio protect everything that you've ever worked for in your lifetime,
you doing a hell of a job. So somebody's got
one point five million dollars in investments and they spend
fifteen thousand dollars a year in order to build a
long term care policy out. They're doing a pretty good job.

(01:28:12):
And what's changed about that now, of course, is what
you just said. What's changed about that now is that
now you've got policies that are if you don't use it,
you don't lose it. There's a benefit, a death benefit
that's associated with it, which makes all the sense in
the world.

Speaker 3 (01:28:29):
You know, a lot of people that we've talked to
over the years that are very very successful has either
known or learned how to negotiate with or transfer right.
You know, everybody's got a plan. No plan is a plan, right,
and it's a decision. Yeah, and you know, at the
very least people that are looking to protect whether it

(01:28:52):
be a loop pier with the state planning or looking
into a hybrid policy.

Speaker 2 (01:28:58):
Look at it. See that makes sense.

Speaker 3 (01:29:01):
You can always say no if it doesn't feel like
a good fit, but at least explore whether it's with
us or whoever you're working with.

Speaker 2 (01:29:10):
And we got blast off coming pretty soon with our
new software package. Yes, we do, probably what June first, Yeah,
probably June. I know we're using it now internally internally, yeah,
more and.

Speaker 5 (01:29:23):
More uploading stuff in the you know, the calendar and tasks, Yeah,
getting the workflows and everything.

Speaker 2 (01:29:29):
Yeah. Working, But yeah, I know, I know June Corkorand's
studying this weekend. He's definitely getting into it. He's not
the only one. I got to do it too. Hopefully
he's had a couple of If he's listening, he's probably
throwing a wrench right now at the at the radio.

Speaker 3 (01:29:45):
I'm going to be psychic here for a minute. I
see two toils in my future too, toil at least.

Speaker 2 (01:29:53):
So the new software package, I know that we've got
the money Advice on. Does that allow people to get
into it?

Speaker 5 (01:30:00):
Also, Yeah, there's a log in through advice on as well,
so that'll link all like their Fidelity accounts, and it's
just more in depth as far as like a breakdown
of what they're invested in, performance reports, any like. Tax
documents can be directly linked there during tax season, so
they'll just pull over so they don't you know, they
can just go in and click on them in their

(01:30:22):
file and they'll have them there. So yeah, I mean,
there's there's there's multiple portals. We're waiting to see, you know,
what it looks like on the client's end, and if what's.

Speaker 2 (01:30:31):
What's what's great about this is also we get to
basically design what we want, right. Yeah, it's fully customizable.
The face, the facing which is you.

Speaker 3 (01:30:41):
Know he brought up just listening to him, I think
another valuable piece of information. I don't know if it's
a money advice on it both, but clients can also
upload valuable document would you put him in a vault?

Speaker 2 (01:30:55):
Which I talked about a couple of weeks ago, because
the people in Florida that went through the tornado hurricane,
that lived down in the southern Tier, Fort Myers, Benita Beach,
in that whole area, they went home, there's nothing there, right,
It's all gone. Where's my will, Where's my power of attorney?
Where's my life insurance policy?

Speaker 3 (01:31:17):
I think that's such a valuable asset to have because
and we take great pride in what we do as
far as service, and I know I've witnessed it. We've
helped clients settle estates within as little as seventy two outs.
The more we have on hand, the more efficient we

(01:31:38):
can be to help people in the most difficult time.

Speaker 2 (01:31:42):
Sure, And the thing is is that we overemphasize that
if you listen to us, just simply by titling assets.
Not one penny needs to go through probate, right, No
one penny? All right, We got to take a break.
We're going to come back and it's our last segment.
If you have any questions or comments, don't be bashfled.
We don't bite. One eight hundred talk WGI. That's one
eight hundred eight two five fifty nine forty nine. We

(01:32:04):
are the Retirement Planning Group. We've got five locations in
New York State. If you want to come in and
have a chat with us, it's five point eight five
eight zero one nine one nine RPG retire on the web.
We'll see you right after this quick break the eighty
six percenters? Do you know that eighty six percent of
the population has no defined benefit pension plan? For most

(01:32:25):
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Nobel Prize winning economist William Sharp has called retirement income
distribution the nastiest, hardest problem in finance. He points out
that investment uncertainty and mortality can derail the most careful

(01:32:49):
laid out retirement income plan. Call our offices today to
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you need to start taking action to start building your
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Speaker 3 (01:34:17):
I do I've always enjoyed them because there's a variety
of question. I'm sorry, I'd like to take a number
off the beaten path.

Speaker 2 (01:34:30):
Go ahead.

Speaker 3 (01:34:31):
You're always there to make me feel a woman. That's
what I love about your Chicago. I always love them
because of the variety of sounds and instruments. And boy,
I'll tell you see him in concert.

Speaker 2 (01:34:45):
There is there is good concert as there on. I
don't know these guys are getting old. I mean, if
you're watching my PBS, they still look pretty good, right,
you know, but you know with a nip nip and
a tuck and everything else that they're doing today. Peter
though lead thing. No, No, there's another guy that's the
lead sing. Yeah. But I'll tell you I remember them

(01:35:08):
years ago. It's back.

Speaker 3 (01:35:09):
I saw them at least one and boy, you said twice,
so were you doing? Tell me, well I did the
second time. Believe it or now? Was it halftime of
a Notre Dame football get I was, yep, it was
probably eight years ago. Yeah, yeah, it was pretty cool.

Speaker 2 (01:35:25):
Notre Dame where they play Notre Dame. Notre Dame. That's right,
Your your sister lives out there. This Mike is this Hello, Well,
Notre Dame might have been playing down at west Point.
That very good, David. But this happened is at Notre Dame.
You valley, you serve I volley. It happened to be
the Notre Dame USC gate who won Notre Dame. You

(01:35:48):
ever watched the thirty thirty You ever watched thirty thirty
in Sports Center? Those documentaries?

Speaker 3 (01:35:53):
Oh?

Speaker 2 (01:35:54):
I love them. Yeah. There was one in there about
Lou Lou Holtz when he against Miami. Yep. It was
called Catholics Versus Convicts or something CONTs Convicts versus Catholics,
and it goes to that last play where Jimmy Johnson
went for the touchdown or the three pointer yep. And

(01:36:14):
I think the score was thirty five thirty four something
like that, right, thirty five thirty four and they won
Notre Dame. One. And I love thirty thirty documentaries. I
thought they're I think they're fantastic. Absolutely, they're fantastic. So
you know, remind me of they're so informative. Yeah, always

(01:36:37):
talking about things you had no idea about. It's like
Ken Boone.

Speaker 3 (01:36:41):
When Ken Boone does something, whether it's the Civil War,
it just blows your way with the information well housekeeping here.

Speaker 2 (01:36:49):
We have a new employee will be starting in a
week or two from temporary to full time. Yep, Jared
is joining us. He's a soon to be graduate of
Sianta College.

Speaker 3 (01:37:01):
Super super nice guy. Really looking forward to him being
part of the team.

Speaker 2 (01:37:06):
He'll help Jim a lot.

Speaker 3 (01:37:09):
Well, he's just gonna help period. I think he's gonna
help us all. I think, you know, I got his
ing gym a little bit. Yeah, hopefully Jimmy's listening. Probably
very nice.

Speaker 2 (01:37:20):
Probably he probably just he probably just stepped on the gas.
I'm just happy to be here. You know what I
got to do though, I've got to bring Jim and
Lisa in to the show. They have never done the
radio show. I think it would be a great ad
for an hour and have them come in and talk
about what they do and how they do it at

(01:37:40):
the Retirement Plenty Group because they're a critical component of
the RPG team and they are both excellent at what
they do there. They know it. They tell me it
every once in a while. Stay out of my business,
that's Jimmy. That's what Jimmy said. By the way, I
mean yesterday he was throwing stuff at me, but like

(01:38:00):
a week ago he basically said stay you know, just
stay out of here. Okay, you don't have to be here,
just stay out of here, which I.

Speaker 3 (01:38:08):
Think was pretty good. Well, that's just a compliment. You
know what a solid team we have. We do, we do,
and we have such a nice flow. We really really do.
I enjoy every day. I really do.

Speaker 2 (01:38:22):
It's a it's a it's an environment that's welcomed me. Yes, yep.

Speaker 3 (01:38:27):
And the clients are top notch, just super and you know,
it's just warmed my heart because people will come in
and they'll say, God, we really enjoyed the show last Saturday.
We really enjoyed what you had to talk about. And
or you guys are down to earth in person as

(01:38:47):
you are in the radio, and we aren't.

Speaker 2 (01:38:49):
Don't try to be who you're not right because people
read right through it. Oh my god. I went out
to dinner one night. Dave Myers brought me to dinner
with this guy, a very successful guy in the Capital
District region. And this is a few years back, and
I'm trying to impress him right and Dave, can you

(01:39:10):
do that? Oh yeah, yeah, I can do that. Can
you do this? Absolutely, we can do that. What about this,
can you guys do that? Yep, we can do that too.
By the end of the dinner, he just looked at
me and we were chuckling and having a laugh, and
he says, you know what, I'm going to tell you something. Copeck.
He goes, You're a great guy, but you know what,
there's no way in hell you can do all the
things I asked you. And I said, you know what,
You're one hundred percent right, But I didn't want to

(01:39:32):
disappoint it. We all laughed and we went out of
merry way. But you know the thing is, let's let's
talk a little bit about that, Chris. You're done with
all of your exams now, right, not all of them? No,
you got what one more left? You got one more left?
And then I tell you, I admire you, God love you.

(01:39:54):
I mean, that's a lot of freaking information. Oh yeah,
for you to get your license in because you're very knowledgeable,
very knowledgeable. I learned stuff from you guys every day.
Excuse me, but I'm telling you I'm glad we took
our exams years ago. Well I said this the other day,
and I don't know if you guys heard me say
this when I took my exam for my series seven.

(01:40:16):
In my series six, there was no computers. You sat
it down in a classroom in a gym in Manhattan,
and they had the dividers up and you sat there
and you took this, took the test, and then you
had to wait like a week ten days on pins
and needles if you passed or not. And today when

(01:40:36):
he takes an exam, he hits a button, holds his
breath and it comes up either ya, yay r nay right,
which is phenomenal, Yeah, which is phenomenal. That is the
good part. It is it's like you don't have to
sit and wait. So so the bottom I gets down
to is that, you know, we've had a great first quarter.
It's hard to believe that we're already almost in the

(01:40:58):
middle of May. Uh. You want to mention we're going
to have our middle Well, we're going to be there.
We're approaching. We're approaching. Buckle up. I expect some turbulence,
ladies and gentlemen. If you haven't had a drink, now

(01:41:19):
might be the time. My son Christopher, who's very good
at serving booze, we'll be coming down the aisle. Quickly,
have your hand. We'll get you out of the vun
But I wanted you on today because you're going to

(01:41:40):
talk about we're going to have another dog and pony
sometime in June about the benefits of these brand new
alternative ways to invest in annuities. Am I correct?

Speaker 3 (01:41:52):
Absolutely? And again you know it's two very important areas special, ok.
But it up earlier. People who are looking and want
to stay in the stock market and want stock market
returns are close to it, but they're afraid because of
the downside. Well, this can take care of both things

(01:42:14):
at the same time, provide downside protection and increase your
ability dramatically for stock market return. And then the other
one is going to be more people that are really
concerned about guaranteed income while you still have your study invested.

Speaker 2 (01:42:35):
Seven out of ten people YEP, over seventy percent of
people that are going into retirement their greatest concern Number
one is what outliving their money YEP income, developing income
streams of the retirement years and advise on our new
software package for our clients. People that are listening, well,
we have a tutorial for them. How will they get

(01:42:57):
up to speed? With advice on.

Speaker 5 (01:43:00):
We send them access so we can go over it,
you know, in a meeting or an appointment if they
wanted it, just like we do with the money, we'll
walk through.

Speaker 2 (01:43:06):
It with them, all right. So do you know any
jokes from last night? Did any resonate with you? Or
you had too many refreshments and you that I can
none that are appropriate for I'm going to take my headphones.
So was it at the palace or was it at
the arena? It was at the arena? Wow? That many people? Yeah,

(01:43:28):
it's probably like fifteen thousand people. Holy mold. I know
for a comedian. Last time I heard that, that's almost
like when I played down there in high school. They
were standing in line to attend. Really yeah, I think
they would leave it again.

Speaker 3 (01:43:45):
Last time I went was Andrew dice Clay nineteen eighty nine.

Speaker 2 (01:43:50):
Well, I haven't heard that. I haven't heard that.

Speaker 3 (01:43:52):
On Valentine's Day it was hysterically so I can only
imagine you had at.

Speaker 2 (01:43:58):
That was great. You know, he's a triple x X
rated but his mouth was filthy. Oh, he was hotter
than hotback in the day.

Speaker 3 (01:44:06):
Though.

Speaker 2 (01:44:06):
Yeah, I know he's a he's been in some acting.
He's been in some acting, so listen, we have to
say goodbye. We'll be back from twelve to one and
one to two. My son Christopher is going to be
here and Nico's going to be here live for those shows.
So h If you are looking for something to do
with it's raining, turn into WGY be there, and if

(01:44:29):
you want to go to the workshop, remember WGY Seminar
dot com www dot WGY Seminar dot com. God bless
me safe. We'll see in a few hours.

Speaker 1 (01:44:44):
Thank you for listening to the Retirement Planning Show posted
by Dave Kobec. If you would like to talk with
Dave or someone at the Retirement Planning Group called five
one eight five eight zero one nine one nine. That's
five one eight five eight zero one nine one nine
during business hours, or visit RPG retire dot com. The
Retirement Planning Group has five convenient offices located in Albany, Malta,

(01:45:07):
Glens Falls, Syracuse, and Aniana. Tune in again next week
for retirement planning strategies with Dave Kopek right here on WGY.

Speaker 2 (01:45:22):
The information our services discussed on this show is for
informational purposes only and is not intended to be personal
financial advice. The investments and services offered by US may
not be suitable for all investors. If you have any
doubts as to the merits of an investment, you should
seek advice from an independent financial advisor,