Retirement Planning Show

July 12th, 2025. 

Episode Transcript

Speaker 1 (00:00):
The opinions, viewpoints, and promises made during the following program
are not those of wgy it's staff, management, or parent company. iHeartMedia.

Speaker 2 (00:32):
All right, good morning, look at you going. It is Saturday,
July twelfth, twenty twenty five. Hard to believe that we're
that far down the road in the year twenty twenty five.

(00:54):
It's a very special day in our house, my wife's birthday,
So happy birthday to my bride and I have some
festivities today. Hopefully we're not going to have rain all weekend.

(01:15):
I don't know where you are logistically, but it rained
pretty hard here in Latham, and it looks like the
weekend it's going to be in and out, different times
to have rain. But I don't know what's going on.
But when it rains now in Lake George, it's like
it comes down like unbelievably to the tune where it's

(01:39):
basically washing out stone from culverts. So different, the weather
is different. But I'm Dave Kopek. This is the Retirement
Planning Show. Hopefully you're sitting back and enjoying your Saturday,

(02:01):
get the day off. Maybe you're just kind of chilling,
but got a lot of stuff to talk about. Today.
My son and Chris McCarthy will be in in the
second hour, but first and foremost because I said happy
birthday to my wife. We're gonna gound and have a
nice dinner tonight with the kids, some friends and hopefully

(02:25):
it will be enjoyed but by everyone. And kind of
the topic today is how quickly time goes by, you know.
That's one of the things that we discuss a lot,
as far as being prepared for the ultimate. See you later, alligator,

(02:48):
we're out of here. You know. One of the things
that I take a lot of pride in is that
we have a golf night every Thursday. We play golf
with a great bunch of clients of ours. It's a
lot of fun, a lot of fun. Some of them
have make clients for god almost thirty years, which is

(03:10):
hard to believe. But we kind of get together and
we laugh and we joke. But everybody seems to be
saying the same thing over and over again. Oh my god.
You know, I can't believe that. You know, we're already
almost in the middle of July. We're going to blink
our eyes, they say, once the track starts. Summer goes

(03:30):
by quick, and I'm in that camp. I believe that myself.
I believe that myself. So we are extremely busy the
Retirement Planning group. When I say that we're busy, it's
kind of an understatement, which is good. My son and

(03:50):
I are traveling to Florida at the end of the
week this coming week to see some clients. I will
not be here next Saturday. I think Nico and Chris
McCarthy somebody's going to be doing the show next Saturday.
But we won't be flying back until mid Saturday morning

(04:12):
of next week after we see the clients. So just
amazing to me. It's amazing. Our Syracuse office is just booming.
We just took some new office space in Syracuse. This
week we're doing presentations for National Grid in Buffalo, Syracuse

(04:32):
and of course Aubany. They're great clients of ours, a
lot of the retirees of National Grid, and it's always
fun to go out. This presentation will be for the newbies,
kind of going over their employee benefits and how they
need to allocate their money for their retirement years, some
of the things that they need to talk about and

(04:53):
think about as they get into their job. But Bob
Mike gets down to is that you want to make
sure that you understand. One of the most important things
that you can do is understand your employee benefit package
that you have through your employer, because you want to
maximize those dollars. If the employer is offering you some

(05:14):
type of a match with the four to oh one
k HSA account, whatever it may be, you want to
make sure that you have the ability to take advantage
of that, because you know, you can't go back and say, oh, jeez,
you know, I wish I did that. You know, can
you give me the money now? Either use it or
you lose it. So my son and I are heading

(05:35):
up to Buffalo on Tuesday. We come back, go to
Syracuse in the next day, and then Albany, I think
on Thursday, so be a busy week, and then we
get on an airplane and fly to Florida. But glad
to be here again. This is talk radio. Do you
want to participate? It's one eight hundred talk w guy.

(05:58):
It's one eight hundred and eight two five fifty nine
forty nine. I give out a little shout out. Chris
McCarthy came in the other day and he says, Wow,
it was a great lunch. You know, friends of ours
that used to run Civatello's and Schenectady are now running

(06:18):
the restaurant at Impact in Clifton Park, the Impact Cafe
and Angela Rowe, her sister, and of course are lovely
Anne Marie. And if you want some good foot folks
and you're looking for lunch, I can't overemphasize enough. You know,
Tommy herd her and his wonderful wife run a great

(06:42):
facility over there with her partners. But I'll tell you what,
one of the things that they did right was to
definitely put them in that cafe because the food is phenomenal.
So Chris McCarthy has found a new place to run
to at lunchtime. So I always like to give a
plug for not only good people, but good food because
you know, I grew up in the restaurant business. So,

(07:05):
but we got a crazy week going on here, folks.
We've got a lot of stuff going on. You know,
everybody's got their ear to the road about Jerome Powell.
And if you've been watching the news, you know the
guillotine is circling his office down in Washington, d C.
And there's you know, all sorts of bets going on

(07:26):
right now whether he's going to make it through the
weekend or not. The rumor quote unquote is that he's
considering resigning. Uh, there's a lot of reasons for this.
The administration current administration is not a big fan of Powell.
There are also is there a lot of pressure going

(07:47):
on as far as this amount of money that's being
spent on the headquarters, the renovations to the tune. I
guess the almost two point five billion with a B
dollars And you know, I don't have to tell anybody
if you're involved in finance or if you've been watching

(08:09):
the news. The FED chair has basically not been on
the top of the list for the administration. And I
think personally myself, when your boss loses confidence in you,
why would you stay at the party? You know, if

(08:30):
no one wants you there, why would you stay at
the party. So I'm kind of thinking that by the
end of the weekend, Powell is going to be gone.
I think there's some fatigue that has happened there. I
think there's some fatigue that has happened there. And as
I said, a two point five billion revamp of the
DC offices have not set well with a lot of

(08:55):
the powers to be in Washington, So we'll see what happens.
You know, they've asked for comments, they've declined comments. So
he says he intends to stay, but I don't think
he will. I don't think he will. So we're gonna
we're gonna take our first break, and I'm Dave Kopek.
This is the Retirement Planning Show. I want to thank

(09:17):
all of our listeners. We've had a great year so far.
In twenty twenty five, we come back, we'll talk a
little bit more about what's going on in the markets.
Retirement is in a Sunday thing. It's a now thing.
Whether you're just starting out or nearing the finish line.

(09:40):
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(11:38):
All right, I am back. I'm Dave Kopek. This is
the retirement Planning Show. Good to be here, and hopefully
you're somewhere where it's not raining. You know, it's just crazy.
I mean, we've had a ton of rain. But my yard.

(12:00):
I was gonna mold my yard yesterday and I held
off because it's brown. And I'm saying to myself, how
the hell can this grasp be brown when you know
we've had so much rain. But I guess it's because
of the intensity of the heat. But so I've held
off because I don't want to have a dirt yard
rather than a grass yard. But it's just been the

(12:24):
weather's been nuts, just crazy. So but stocks record highs,
pretty neat near record highs. The strong performance, of course,
was an energy industrials. You look at GE folks, if

(12:45):
you've held on to GE or you bought GE over
the last two to three years. Take a look at
those stocks, GE Aerospace, g Verona in GE Healthcare. It's
unbelievable the amount of capital appreciation that has happened. But

(13:06):
as they're all quite well aware, July fourth was the
however you want to identify it, the big beautiful bill.
A lot of people have talked about it in a
negative way, written not a positive way. But you know,
for some of us here in New York State, the
salt deduction rises to forty thousand dollars. You know there's

(13:31):
going to be permanent tax policy. Now they're talking about,
you know, some of the cuts that they're going to
make regards to eligibility requirements for Medicaid. And to be
honest with you, folks, this has been a crawl with
me for years, and I think everybody knows the dance

(13:52):
here with Medicaid. For people that do irrevocable trust. We've
got people that have hundreds of thousands of dollars, if
not millions of dollars an irrevocable trust, that can more
than afford to buy a long term care policy, and
they're over the hump. There's no look back. That money
is basically protected and they're trying to qualify for government

(14:16):
assistance through Medicaid. That's fact, that's reality. And I've had
lots of attorneys on here and we've done dances. Some
have gotten pretty hostile with me as far as what
my position is personally myself, I don't think it should

(14:36):
be allowed. There should be a certain amount of that
money that should be distributed, right in order to basically
cover your care, because Medicaid was never set up for
people that have hundreds of thousands of dollars, if not
millions of dollars. Right, it's a dance. It's the guy

(15:01):
behind the curtain. So you know, sometimes I got a
buddy mine, Bobby. He's probably listened in this morning in
his beautiful Bride. You got mad at me because you
know he absolutely hates Trump hates And I just said,

(15:27):
you know, Bob, what you have to do is you
got to take fact and what's fiction? What are the numbers?
What are the numbers here? Okay. I don't care about
the personality. I don't care about the hair, the orange face,
I don't care. All I care about is what are
the facts. And then we'll look at the numbers and

(15:50):
see how things are working. Out here, right, Because anytime
the CBO, the Congressional Budget Office, does all of these projections,
almost all the time it's wrong. They almost always get
it wrong with their projections. Right, just like what happens. Right.

(16:12):
You know, Bobby's probably listening and he's probably gonna freak
out when I say that. I say, hey, Bob, the numbers,
the numbers on the tariff are not causing inflation.

Speaker 3 (16:23):
That's not true.

Speaker 2 (16:24):
Well guess what, Bob, Guess what. June saw a surplus
twenty seven billion dollars, not a deficit, not a deficit.
And those are duties that are from the tariffs. Right, So,
as of right now, the US government posted a surplus

(16:46):
in June as tariffs gave an extra bump to increase
receipts from the Treasury Department. Let it play out, Let
it play out, Okay, But the bottom line gets down

(17:07):
to is that I understand that everybody's there's this mania.
People are gonna you know people now, they're saying people
are gonna die from these cuts, and you know, no
one's gonna get the benefits that they're supposed to be getting.
Come on, Okay. The problem with a lot of the

(17:27):
states and also with the federal government. It's not revenue.
It's not revenue, it's spending, spending. So I can tell
you right now for the near future, terrorifts are going

(17:48):
to be on the forefront. He announced the president new
teriffs more than twenty countries this week. Of course, the
one that's all over the news is candidate Candidia. Thirty
five percent terrorists, up from twenty five percent. And it
just comes. You know what I've always said in business,

(18:09):
when we sit down with someone, or if we have
a conversation, or if i'm you know, I got a
contractor at my house right now, a young gentleman that
I think the world of. I said to him, I said,
do you want me to advertise for you on the radio?
He goes no, he says, I have enough business just
in referrals. And I know why. I know why, And

(18:35):
he's fair. And that's what I've always said in business,
it has to be fair. And I think that's true
with what's going on right now. If we're if we're
an open border, an open market for all of these countries,
and they they impede us, they impede our products, and

(18:58):
they put all sorts of obstacles in the United States
in order to do business. Is that fair trade? It's
the bottom line, is that fair trade. When I sit
down with individuals and I talk to them about our
compensation structure at the Retirement Planning Group, I don't think

(19:21):
anybody competes with us as far as our compensation structure,
because I said over and over again, I've always wanted
it to be fair. The first two million dollars is
one percent. Two to four is seventy five basis points.
Anything over four million it's fifty basis point. It's a
half a percentage point. And if it's a fixed income

(19:42):
bond portfolio, CDs, whatever it may be, right, we don't
go more than fifty basis points. That's the max. It's fair.
You know, we have expenses, we have overhead, there's bills
that we have to pay through Fidelity and everybody else.
But the bottom line is is that right now, you know,

(20:05):
you got to take some time and open up the
paper and go through all of the you know, mania
and basically look at what's fact then what's fiction. And
I'm telling you right now my personal feeling is and
this is personal, this is Dave Kopek. We're about to explode.

(20:25):
As far as growth, every businessman that I'm talking to,
everyone that I'm having discussions with, they're ready to put
the pedal down and they're ready to do what expand grow.
I'm growing. I'm growing. I'm growing in Syracuse, New Office.

(20:47):
Why because we feel pretty confident about what's going on.
But I'm going to go back to what I said before,
Okay about medicaid. Medicaid in New York State is out
of control. Out of control. You look at these municipalities

(21:08):
and counties in the amount of money that they have
to spend on medicaid compared to other states. It's insane.
It's insane. Some people win, some people lose. The people
that go to the attorney and they shell through the

(21:29):
assets and they put it into an irrevocable Medicaid trust,
they get over the hump. They win. It's a question
is it fair. One of my good friends, an attorney,
says all consistently, Dave. I don't make the rules, but

(21:53):
I have to work within them. And as long as
the State of New York allows us to happen the
sixty months the five your look back, and once I
get the money in there and I protect the house
and the assets that are in there. It's illegal. It's
a legal ability for me to do that. Why wouldn't
I do that for individuals? And he's one hundred percent right,

(22:15):
He's one hundred percent right. But bottom line gets down
to is this, I can tell you from someone, why
do I travel out of state so much? Why am
I going to Florida? Because people are leaving this state
and the more taxation and more burden that they put

(22:36):
on the people that have the opportunity to pay the taxes,
they're just going to say see you later, alligator, just
like they've done.

Speaker 3 (22:48):
So.

Speaker 2 (22:50):
I think you're going to see a boom. I think
that the economy is going to take off. I think equities,
I think bonds. I think this whole thing that's going
on with Powell and the administration's desire to have lower
interest rates is going to be a boom, not only
for bonds but also for equities. And I think what

(23:13):
you have to do is you got to basically sit down.
We had a big meeting this week about how are
we going to handle this as far as our internal
large cap, mid cap, small caps, fixed income, you know, international.
You know I'm not a big international guy haven't been,
and I probably never will be because I believe that

(23:34):
the companies that are here domestically in the United States,
I haven't enough exposure with them.

Speaker 3 (23:41):
You know.

Speaker 2 (23:42):
I want to be here domestically in the United States
in a developed market that I know. I've got the
liquidity and I've got the financial statements that I can
basically have confidence in the ability for know that the
accuracy so so. With stocks near all time highs, volatility

(24:03):
I think will continue, but not I don't know who knows.
No one's got a crystal ball. But there are opportunities
out there, folks, There are opportunities out there. Talk to
your advisor. Might be a good time for you to rebalance,
look at your portfolio. As we always say at the
Retirement Planning Group, maintain diversification. I'm Dave Kopek. This is

(24:26):
the Retirement Planning Show. We'll be back after the news.

Speaker 4 (24:31):
We'll see on the other side.

Speaker 5 (24:47):
All right, the guys on the drums and the guitar.

Speaker 2 (25:03):
It's good to be here, folks, upstate New York. A
little bit of rain, hopefully you'll clear off. I know
a lot of people are track people. Julie and I
used to love the track. We used to go, I
don't know, three or four times a year. That not
so much anymore. I don't know why. I've kind of
lost my interests. Last time I went to the track,

(25:25):
last two times I went to the track, we had
a picnic with some of our friends and family and
we were in the Paddock area and I got disgusted
because I'm there in the Paddock area there's this beautiful family,

(25:46):
this husband and wife and these three beautiful kids, dressed
to the nines, and the table right next to them
was a bunch of jerks that were drinking their you
know what off and smoking marijuana like it was going
out of style, and it just totally turned my stomach.
So if Nira, I'm going to give you a helpful hint,

(26:07):
if you want to get my dollars back up there,
if you want you guys to sit around and drink,
you know, out of their mind and smoke weed, you know,
put a separate section at NAIRA for that. Because that
poor family with those three kids, they actually got up
and left, and I felt so sad for them, and
it just totally turned me off. And last two times,

(26:29):
last two times we were there, that's the end result.
I'm not an old man, you know, I'm not. You know,
whatever you want to do do I could care less.
But when it impacts me and my air, and I
don't want to sit there and smell that crap. I
can't stand the smell of it. Stinks, and I just

(26:51):
I don't know. So I went over to the garden.
I said, we were told not to do anything, just
leave it, you know, just leave it the way it is. Well,
you don't need my money then, and might you know,
buy an eighteen dollars beer and whatever else it costs
up there. So I don't go to the track as
much as I used to. Maybe once this year we'll

(27:12):
go up, but I won't. I won't go to the
Paddock area anymore because I don't want to deal with
that crap, not my cup of tea. What people do
in their lives is fine, but when it floats over
and the language filthy language, that's not fun, not fun

(27:36):
for me. So we're we're at all time highs. I
think we're going to see a little bit of volatility
here with this economic data, in the what we're seeing
with the TERRORFF. But as I've said, I know Bobby's listening.

(27:59):
He doesn't like to hear this. We're going to find
out that the numbers don't lie. And I think this
is going to be extremely bullish as far as revenue,
and not only revenue, but I think the growth potential.
You add an extra point to growth, it's mind blowing

(28:21):
as far as what it does as far as reduction
to deficit, et cetera. So I think the backdrop, as
far as I'm concerned, is going to offer some opportunities
for individuals to invest. I think pullbacks are probably a
good opportunity for you to buy lower prices, and you know,

(28:41):
make just make sure you maintain your diversification because you know,
no one knows when a black Swan event is going
to happen, especially in this crazy world that we live
in today, Especially in this crazy world that we live
in today. So, as I said, the government posted a surplus,

(29:09):
which is nice to hear, isn't it nice to hear
that we got a surplus? But keep your eyes and
your ears open over the weekend. As far as what's
going to happen here to Jerome Power, my my feeling
is is that the guillotine is close. And as I said,

(29:33):
if you're not wanted, why do you stay? And there's
going to be I think a lot of I think
there's going to be a lot of a lot of anger,
a lot of a lot of a lot of hostility,
a lot of flapping going on. But it's a new ministration.

(29:56):
They should be able to put their guy in as
far as I'm concerned. So, but you know, one of
the things that we talk about all the time at
the retirement planning group, we're starting to see more and
more individuals, especially with the relationship that we have with
some corporations that we go in and do dog and ponies.
But you know, when people have certain ages that they

(30:19):
break into new bracket. You know, fifty seems to be
the one where people start saying to myself, you know,
maybe I got to start thinking a little bit more
about my financial future. And as we're all quite well
aware of, planning for retirement today is far different from
how it was generations ago. The financial landscape has shifted dramatically, dramatically,

(30:40):
especially since the forty three years that I've been doing it.
And as we're quite well aware, pensions are rare, life
expectancies are getting longer, healthcare costs are through the roof,
and the burden of planning is on you. It's on
you and your spouse if you're married, or if you

(31:01):
have a domestic partner. H And a lot of times
when you hit that midlife, that magical fifty number, sometimes
you know the kids are already out or they're gonna
be out of the house, finished with college, and now
it's essential for you to basically start thinking about, you know,
how are we going to get to our destination of

(31:22):
where we want to be. You know, I keep on
plugging e money, the software package that we have, and
I can't overemphasize it enough, but I think people complicate
retirement planning too much, you know, I really do. I mean,
there was a buddy of mine for years that he's
in California, and he was I think he was one

(31:43):
of the first ones that started talking about the buckets
of money and also the three legged stool. But you know,
retirement basically used to be the three legged stool. Your
social security. I gotta say that's slow because I slurred.
If I don't pension in your personal savings. And today,
for most of us married couples, it's going to be
a balancing act between our i RAS and our forum

(32:05):
one case savings and investments. And you know, for a
lot of us, part time work in retirement. You know,
we have a lot of individuals right now that are
retired but are still working on a part time basis.
And social Security, you know, it's critical that you're making
the right decision. Believe it or not, folks, this old goat.

(32:28):
I'm going to be taking my Social Security starting in September,
which is astonishing to me that I'm at that point
in my life. But the reality for a lot of
us that are in their fifties, right is that this

(32:52):
plan that we're developing right has to be incorporated into
two individuals, not one. And many married couples have their
own careers. Believe it or not, this doesn't exist. And
I don't think for a lot of my generation, but
a lot of my kids generation and maybe a little

(33:13):
bit older, they have separate savings accounts, they have you know,
separate bills. They kind of coordinate at the end of
the month. This is my bill, this is your bill.
And whether you live together, you don't live together. You know,
it's kind of how do we create a plan here
that both of you get into retirement, especially if you've

(33:33):
kind of been silos all these years that you've been
living together, right, you know, a lot of people are
probably this is resonating with them. Mean, you know, I'm
shocked by it sometimes where we sit down with people
and they go through, you know, their financial statement with us,

(33:54):
and they this is his responsibility, and this is my responsibility.
This is what he pays for, and this is what
I pay for a lot of times, believe it or not,
a lot of times it's with second marriages, you know.
And then on top of that, on the front end

(34:15):
was a pre nup, right because I'm not going through
the financial destruction that I had the first time. So
they a lot of times there's a prenuptial agreement and
how does that impact as far as how you get
to your destination for retirement? And we're all quite well aware.

(34:37):
I mean, I've got clients that are well into their
eighties and nineties. We're living longer lives. You know, if
you're going to live well into your eighties and nineties,
they say it, if you lived to two thousand and thirty,
start planning for the age of one hundred. Because of
the advancements that we're going to see with AI, And
I told my wife, if I don't get there, put

(34:58):
me on ice because they'll probably be able to rest,
you know, bring me back, give me one of those
chambers that Ted Williams is in. So you got to
prepare for decades of expenses, inflation, erodes, purchasing power. Right, healthcare,
I don't have to tell everybody about healthcare. I just

(35:18):
discussed it a little bit. And then, of course what
no one wants to talk about is long term care
insurance because it's never going to happen to me. I
don't want to pay for it. I'll just put it
into an irrevocable trust and then Medicaid will pay my bill,
which I started, you know, I talked about in the
beginning of today's show. Right, but healthcare is the one,

(35:43):
if not the largest expense that most of you will
face during your retirement years. And as the Mothership Fidelity says,
a healthy sixty five year old couple retiring in twenty
twenty five, Fidelity estimates three hundred and fifty thousand dollars

(36:03):
in medical cost over their lifetime and that has nothing
to do with long term care. So it's crucial for
you to understand Medicare options while you're still working in
your fifties. Health sav these accounts and potentially purchasing long
term care before you actually walk out the door and

(36:28):
you go into your golden years. And there's ways to
do that. So we're going to talk a little bit
more about some of these topics when we come back.
I'm Dave Kopek. This is the Retirement Planning Show. This
is Saturday, believe it or not, July twelfth, twenty twenty five,

(36:48):
My wife's birthday. Happy birthday, Julie. We'll be right back
after this quick message. You want to give us a
call one eight hundred talk WGY. You've spent a lifetime
saving for retirement. Now it's time to make that money
work for you. Here's the secret most people miss. You
have to create your own retirement income plant. Social Security

(37:11):
is not enough, pensions are rare. You need a strategy
that turns savings into monthly income that will last a lifetime.
At the Retirement Planning Group, we build customized income distribution
emits so you can retire with confidence, retire smart, Live well.
Call eight eight eight five eight zero nine one nine
for your complementary consultation six percenters. Do you know that

(37:32):
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

(37:54):
problem in finance. He points out that investment, uncertainty, and
mortality can derail the most care laid out retirement income plan.
Call our offices today to start the process of building
your 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

(38:14):
distribution plan. How do you do that? To take action?
Five one eight five eight zero one nine one 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 one
eight five eight zero one nine one nine. We are
living through the greatest wealth transfer. In the history of mankind,

(38:35):
trillions of dollars of wealth will change hands from one
generation to the next. Your money to our beloved children
and grandchildren. Are you ready? Your future is written by chance,
it's written by action. Now's the time to build your plan,
protect your assets, and position yourself for the opportunity. Don't wait,
take action. The future favors those that are prepared. Call

(38:56):
eighty eight five eight zero one nine one nine. That's
eight eight eight five eats or all one nine one night.
All right, we are back. Good to be here. I'm
Dave Kopak, starting to wake up a little bit. I

(39:17):
need a little bit more of that. Laid in bed
until about three fifty five, and it said that's it.
I gotta get up. I gotta get up. So I
got up around three fifty five and gotta moving. Got
to moving. And uh love love the mornings in the summer.
It's absolutely beautiful in the morning, especially at the lake

(39:41):
because you can hear the loons if you like loons.
My wife loves loons. But we're talking a little bit about,
you know, how quickly time goes by, and why it's
important to basically get on track. The reason why I'm
talking about. This is this this is something that we're
going to be discussing with some of the National Grid

(40:05):
people this week. But you know, let me give you
some pointers, some things that I've learned in forty three
years of being in this business. You know, communication with
your goals with your spouse or your loved one, your
significant other. It's critical hopes, your fears, priorities, how much
it's necessary for wealth replacement. Do you want to have gifting?

(40:27):
What's your vision look like versus what that person's vision
looks like. It's not uncommon for a lot of people
go into retirement they haven't had these discussions, and sometimes
it can be stressful. Sometimes it can be stressful. But
you know, one of the things that we do is
we do that inventory. Where do you stand? What are

(40:51):
the assets that are in your name? What are the
assets that possibly are in your spouse's name, your significant other?
You know, what happens when you pass away is that
those assets are they going to be able to be
utilized because in a blended family, which you know, probably
about fifty percent of the people at least that come

(41:14):
into us now are blended families, or if they have
you know, previous marriages, you know what happens. How important
is to leave assets to your children from your first marriage.
How important it is for you to make sure that
the spouse that you're with has quality of life and

(41:34):
what needs to be retained in order to facilitate quality
of life. And it's complicated at times, folks, it can
be extremely complicated, and you want to make sure. You
want to make sure that everybody's on the same page
and everybody understands exactly where things stand and how much
how much is going to be retained by the individual

(41:58):
that might not necessarily have come into the marriage, which
with as much wealth, you know, life insurance is a
great way to facilitate this in order further to be
a wealth transfer for quality of life for the other individual.
And then the assets that were accumulated, the individual can

(42:22):
pass those assets on to the next generation, to the kids,
the grandkids, et cetera. And it's just a clean sweep.
Right now, here's the caveat This is the thing that
everybody needs to understand. For the first time in history,
For the first time in history, women are a positioned

(42:48):
to lead one of the biggest financial power moves the
world has ever seen by This is not that far away, folks.
By two thousand and thirty, women will control two thirds
of the investible assets in the United States. Two thirds.
Think about that. For the first time in history. By

(43:11):
two thousand and thirty, women will control two thirds of
the investible assets in the United States. Why is that?
Because guys die sooner. So if that is the case, right,
it is critical. It is critical that you communicate. It's

(43:35):
critical to understand exactly what assets should be retained, right
and are you close to what you need? You know
at age fifty, there's some magical things that happen. It's
called catchup contributions. You can put an extra seventy five

(43:58):
hundred dollars per year in your four on one cap,
an additional one thousand dollars into your IRA. That's a
whole hell of a lot of money multiplied by two.
You do that for ten, twelve, fifteen years, you get
some decent growth, You're going to have some extra dough
ray me on the sidelines, and then you load up
on your HSA accounts, your health savings accounts. But the

(44:21):
bottom line is is that one partner typically is a
little bit more up to speed, not always but a
lot of times and it's smart, right, especially with the
shift that we're starting to see where two thirds of
the investible assets will be controlled by women by the
year of two thousand and thirty. Working together with a

(44:44):
team people that you feel comfortable with, right, so you
understand exactly what your timeline is and are you matching
what you want to accomplish. Now, some people don't have kids, right,
There's a lot of people out there that never had children,
never had the desire to have children. And what happens

(45:07):
to all of this wealth and where does it go?
That's a complicated conversation sometimes because what Papa might want
might not necessarily be what mama wants. So you got
to evaluate it and sit down and have a conversation
about it. You should probably do that before the team
sits with you and starts working with you. And you know,

(45:32):
as I've always said, you know, there's there's always little
things that came back to bite you. Right. We're going
through a situation right now where there was a giddy
up in the estate plan where something was negated and
now it's going through probate and it's been a disaster

(45:54):
for this couple. It's been a disaster. So it's vital
that you bring in all statements. You understand exactly how
everything is titled to ensure that you're going to be
able to facilitate what you want to have done once
you pass away. And basically there's a lot of documents
out there that the attorneys will work with you, health

(46:15):
care proxies, powers of attorney, beneficiary designations, trust you go
through the whole laundry list. Okay, but you got to
make sure that you don't goof up. Some of the
common mistakes that happen, of course, right is that you're
making plans and you're not bringing everybody to the table,

(46:38):
and then what happens is that oops, I forgot to
tell you about this, and then of course waiting too
long to put your plan in place. You know, take action.
I'll get to it. Call me tomorrow. You know, as

(46:58):
everybody in my office knows, I'm not good with procrastination anymore.
You know, if you're not going to do it now,
then move on because there's other people out there that
need it done like asap. So if you're hitting that
magical age of fifty or somewhere in your fifties and
you're starting to see the children leaving, You're starting to

(47:21):
see the empty nest, and you're starting to see that
you know, mom and dad are now going to have
to navigate this journey together of retirement. Right. You want
to make sure that the landscape is not that complex
because there's a lot of opportunities out there in order

(47:43):
for you to fulfill what you're what you want, what
you want because the products today and all of these
decisions right are complicated sometimes and you need to understand
exactly are these the right type of decisions, because sometimes
you'll put yourself in a position where you can't go

(48:03):
back and fix it. As as an example, pension options,
they'll use a National grid as an example. Okay, if
they take the pension through National Grid, they take their
cash balance account and they take the annuity that's provided

(48:24):
to them right four five years down the road. You know,
they can't go back and say, hey, listen, you know
I wish I didn't do this. I want to go
back and I want to change it. Well, too bad,
courses out of the bar and you can't change it.
There are products out there that will allow you to
change it. You just need to educate yourself as far

(48:44):
as some of these obstacles that are out there, and
be confident that your preparation for your journey through retirement
is thoughtful. You understand all the options that you've selected,
and basically you're putting yourself in a position that you're
at this next stage of your life and you can

(49:07):
enjoy it without having anxiety and stress. You know, making
money and having a nice piggy bank. Sometimes it's great,
other times it isn't. I've seen a lot of people
with a lot of money, a whole hell of a
lot of money, that are miserable, and I always kind

(49:31):
of scratch my head and I say to myself, you know,
you're doing pretty good here. What seems to be the
problem here? But you know, if you're a worry wart
and you're worried during your accumulation, most likely you're going
to worry during your preservation and distribution. But you can
correct that by simply understanding what you've created, how it

(49:55):
basically gets implemented, and the end result is this because
you can basically you can bake the cake and you
can know exactly what it's going to look like. You
know what's exactly what it's gonna look like before it
even comes out of the oven. So again, if anything
that I'm discussing with you, you want to come in,
we offer a complementary consultation at the Retirement Planning Group.

(50:19):
All you have to do is call our office at
five one eight, five eight to zero one nine nine
five one eight five eight zero one nine one nine.
You can check us out on the web. That's rpgretire
dot com, rpgretire dot com. And whether it's plane, train, boat, car,

(50:42):
I don't care, whatever it is, will either come to
you or you can come to our offices. There's five
locations in New York now soon to be one in
Florida where you can sit down with us and have
a face to face meeting. And uh, we don't bite.
We never do business on the first meeting. We always
just have a nice discussion and see if our services

(51:03):
can help you get you to the destination that you
want to be in. But more than anything else, you know,
we love working with people. I'm a people guy. I
love people. I always find it very interesting to talk
to individuals about what their past is, their experience, what
they're looking for. Sometimes it works out, sometimes it doesn't.
Sometimes you're not the fit for us, and you feel

(51:26):
like you're not you know, we're not right for you.
But that's okay. But again, like anything else, give us
a call if you think that we can help you.
Five one eight five eight zero one nine nine. Check
us out on the web rpgretire dot com. I'm Dave Kopek,
and again we're going to come back with my son

(51:48):
Christopher William and Chris McCarthy. We're going to be discussing
a little bit about some options that are new in
the marketplace right back after the news. Hey guys, you

(52:12):
got to get some different music up there. Man, you know,
I'm an old guy like that. You know what the
hell is that you got a head banging music on.

Speaker 3 (52:23):
I'm ready to get jiggy with you?

Speaker 2 (52:25):
Are jiggy?

Speaker 3 (52:26):
That's nice? That's nice.

Speaker 2 (52:28):
Do you hear me talk about impact?

Speaker 3 (52:30):
Oh my goodness, Oh that's the time impact I've had
in years.

Speaker 2 (52:36):
Impact Cafe Angela Row Row Emory, and we.

Speaker 3 (52:46):
Got to see our lovely friend Victoria. Good people, great people,
fantastic people, greens and beans. I'm going back.

Speaker 2 (52:55):
Isn't that the best? With a big chunk of that bread?

Speaker 3 (53:00):
God, don't get me going. I'm ready to take off
right now. You're on your own here. I think you
can handle it by now, Yeah, I can.

Speaker 2 (53:14):
What are you guys gonna do when I go into
the green pastures of the retirement. That's not gonna happen
for a while. You're already, chicken little like you know.
I'm already. I asked you to do the show by
yourself one day. Your head, your head blew off. Well
I'm getting there. You're getting there. I'm getting here, getting
the mojo. Mojo is rising. How about you, Christopher William

(53:37):
Can you do the show by yourself?

Speaker 3 (53:38):
Yet?

Speaker 2 (53:39):
I think so? He thinks so, And.

Speaker 3 (53:42):
He's rocking steady, he's rocking steady.

Speaker 2 (53:46):
Well, my son is here, Christopher William and then Christopher
middle My middle name is Alan.

Speaker 3 (53:52):
You look like al Yeah that I feel good about that.

Speaker 2 (53:56):
Yeah, thank you? Kind of where's that come from?

Speaker 1 (53:58):
You?

Speaker 2 (54:00):
Not a clue, no idea, never asked, never wanted to.
Christopher is Christopher Williams. William is from his grandfather and
my father, and David Michael O. Courus is named after me. MICHAELA.
I don't know how we got Michaela. That's a beautiful name. Mikaela. Yep,

(54:21):
I like that to Mikayla Madeleine. Madeleine is her grandmother, Maddie.

Speaker 3 (54:26):
Does anybody ever call him McKay?

Speaker 2 (54:29):
Okay, I just thought ever since she's been a kid,
we call her kay.

Speaker 3 (54:34):
I don't know why. There you go, Okay, cool nickname.
You know.

Speaker 2 (54:38):
If I'm mad, I call her Michaela. It's like like
like when Julie mad at me. I'll tell you what
she calls me.

Speaker 6 (54:46):
Oh, I give you my hearing aid. You might want
to pick it up. Just duck, that's good. Just just duck.

Speaker 3 (54:58):
Good advice.

Speaker 2 (55:03):
You gotta laugh. Good God. So life is good. Life
is good.

Speaker 6 (55:07):
You know.

Speaker 2 (55:07):
I was just telling them the listening audience that you know,
we're busy as hell, and you know, one of one
of the great things that we do when I always
find it extremely and you probably are finding this now,
is our golf night with our clients, super people, and
that's just a great night out fun.

Speaker 3 (55:22):
Yeah.

Speaker 2 (55:23):
I wonder if Eddie's calling it. Hey, Eddie coll In,
so tell me what you want for? What do you
want next Thursday? For food?

Speaker 3 (55:30):
Oh boy, Eddie says he's always had that covered.

Speaker 2 (55:34):
Yeah, we got a great bunch of people. We really
do have a great bunch of people, and uh, you know,
we're very fortunate, We're very blessed. And one of the
things that I say over and over again is that
our clients they become like family.

Speaker 3 (55:47):
Yeah, you know, most definitely. Yeah.

Speaker 2 (55:49):
So let me ask you a question. You had mentioned something,
and I'll ask both of you. How important is is
you know, I say the fifties. You know, it's always
important for you to get your act together early. We're
going out to do all these dog and ponies with
National Grid that's coming week. How important is it for
you to get your act together? And what do you

(56:11):
think the magical ages?

Speaker 3 (56:13):
It's first of all, my philosophy have always been it's
never too early to learn, learn what's out there. Make
sure you have all the option that you know are
available to you. Before you know the bottom of the ninth.
You need to know a direction of where you want

(56:34):
to go and how you want to take care of it.
So I couldn't agree with you more. I don't care.
You know, you don't have to wait until your seventies
to do with state planning. You don't have to wait
until your fifties to do retirement planning. I love that
we're seeing more and more younger people coming into the office,
whether they're on their own children or grandchildren of our client.

Speaker 2 (56:58):
Or pretty much working with three generations now.

Speaker 3 (57:00):
Absolutely, and it's wonderful because.

Speaker 2 (57:03):
I think a Craig that came in the other day
and not only we were working with I worked with
his parents, him and his children, and now we're building
out portfolios for his grandkids. So that's four generations.

Speaker 5 (57:15):
No.

Speaker 3 (57:16):
I just the earlier you start the game in the
ball rolling, the more rewarded you'll be later.

Speaker 7 (57:23):
Well you think, Christopher, I mean, yeah, piggyback, just exactly
what Chris just said. The earlier the ball gets rolling,
the better you're obviously going to be. We met with
a couple who's yesterday, who was a couple of years
out from retirement, and and they're going to retire fairly early.
You know, they're going to retire before there's both sixty.

(57:44):
So yeah, it's it's well, how can they do that
just out of curiosity? Is because it's got a lot
of wealth or is it because they have health insurance?
They state retirees? No, I mean yeah, they were, So
where's the health insurance. They got it, so they got
health and yeah, yeah, which is for a lot of
people that impedes retirement.

Speaker 2 (58:04):
Yeah, it's a huge factor.

Speaker 7 (58:06):
Yeah, I would say if you don't have to bridge
to that sixty five yep. But I mean it's just planning,
like they've been planning, Like he's super adamant about planning
and you know, monitoring his account and he's been really
diligent about saving. So it's one of those things where
they can do it and it makes sense for them.
But yeah, I mean the sooner, obviously the better. The

(58:28):
more you get your money in the market, get compound
interest going. Yeah, you need to have the right investment
allocation obviously. You know, you can't just be sitting in
something that isn't obviously giving you the most growth potential
when you're earlier in your career versus swapping that up
over the last couple of years of your career and

(58:49):
getting a little bit more defensive.

Speaker 2 (58:50):
Yeah. I got a question for you, Chris, and I
was thinking about this because of your background, you know
a little bit better than I do, your forty years
of being in this business. Term insurance. Now, I'm a
huge believer that young I'm trying to convince him to
get a huge level term policy because he's gonna need it,

(59:11):
you know, in his lifetime. The thing that I did
as a young adult, Dan Bouchard told me to get
a twenty year level term for about four times. I
did half a million. He told me to do two million.
I should have done the two million, right, but I
was cheap and I wasn't thought. I didn't think think

(59:34):
it through enough. So with a level term insurance policy
right now, I want the ability to have insurability in
the future. Is there policies out there now that allow
me to do conversion later in life and guarantee insurability.

Speaker 3 (59:52):
Absolutely? Absolutely? And the thing is the beautiful thing. For example,
let's say you follow Dan's advice and you got a
two million dollar term. So you go down the road,
it's five ten years, and all of a sudden you
re evaluate and you go, you know, we're doing good.
You know our assets have grown. We don't need two

(01:00:13):
a million, Maybe we need a million. That's when you
turn on the conversion, right, because during that time you
might have become uninsurable, right And knowing that, you see
life insurance faces and evolution just like so many other
things in life, when you take it out in the beginning,

(01:00:35):
it might be for you know, to protect your family
because you got a large mortgage on and so forth.
But as you evolved, you might be getting it to
income replacement or legacy planning. So it's constantly changing and
having the ability to convert term to universal whole life,

(01:00:57):
whatever the case may be, just gives you insurance for
your insurance.

Speaker 2 (01:01:03):
So right, all right, you know what that means. That's
my new guitar. That means we got thirty seconds to
go before we got to say goodbye for a break.
So if you have any questions, we're here live one
eight hundred talk to WGY. That's one eight hundred eight
two five fifty ninety nine. I'm Dave Kopek. I'm here

(01:01:23):
with Chris Kopek and of course Chris McCarthy. We'll be
right back after this quick message. You've spent a lifetime
saving for retirement. Now it's time to make that money
work for you. Here's the secret most people miss. You
have to create your own retirement income plant. Social Security

(01:01:44):
is not enough, pensions are rare. You need a strategy
that turns savings into monthly income that will last a lifetime.
At the Retirement Planning Group, we build customized income distribution
plans so you can retire with confidence, retire smart, Live well.
Call eight eight eight, five eight zero nine one nine
for your complementary consultation. Six percenters, do you know that

(01:02:05):
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

(01:02:26):
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

(01:02:47):
distribution plan. How do you do that? To take action?
Five one eight five eight zero one nine one nine.
That's five one eight, five eight zero one nine one
nine or RPG retire on the web. Don't procrastinate motivates
are building your retirement income distribution plan five eight five
eight zero one nine nine. We are living through the
greatest wealth transfer in the history of mankind. Trillions of

(01:03:09):
dollars of wealth will change hands from one generation to
the next. Your money to our beloved children and grandchildren.
Are you ready? Your future is written by chance, it's
written by action. Now's the time to build your plan,
protect your assets, and position yourself for the opportunity. Don't wait,
take action. The future favors those that are prepared. Call
eighty eight five eight zero one nine one nine. That's

(01:03:32):
eight eight eight five eight zero one nine one nine. Hey,
when we come back, we come back now.

Speaker 3 (01:03:49):
Hello.

Speaker 2 (01:03:50):
Hell.

Speaker 3 (01:03:56):
You know it's interesting. When we were before a break,
we were talking about Urman shut and you know, we've
been running into a ton of cases. Yeah, people are
approaching retirement and they're just waiting to get to the
finish line, but they don't realize they may need more
Urman shun.

Speaker 2 (01:04:17):
Well, a lot of people don't realize is that if
you don't get to the finish line, you don't get
the penchion benefit, you get three times the state retiree
you get three times your salary. So if you're making
one hundred and twenty thousand dollars a year, that's three sixty, right,
that's right. It's not eighty thousand dollars a year as
far as pension bin And I'll try to take that
three sixty and make it a pension benefit for eighty thousand.

(01:04:38):
You know, I talked. I had a guy that came
into my office one time when I was in a
granted palace building on Broadway and starts like a springs
before we moved to the other building. And this guy
that was the most obnoxious guy that you could possibly
no matter what, I said to him, Oh yeah, you're
trying to sell me that. You know you're trying to
do that. You know you're trying to give me this.
And I just said to him, I looked at him

(01:04:59):
to say, you know what, it's obvious you and I
are not gonna, you know, hit it off, right. But
I can tell all sorts of stories where I save
people big, big time, you know, because they listened to
our advice. And you know, there was a premature death
and the wife is you know, dancing in the street
now because she's safe. She's safe. But the greatest risk

(01:05:23):
for state retiree is they don't get to the finish line.

Speaker 3 (01:05:26):
And the thing is, we have new clients. It's a
body of mine and his wife, lovely people. I've known
him forever and she's working for the state and she's
getting ready to retire next year. So we're sitting there
and talking and I think Nico and I think it
was you. And we're sitting there and we're talking with

(01:05:47):
him and saying, well, how much life insurance do you have?
And she stated it, and I think it was Nico,
and he said, do you realize you have a one
and a half million dollar pension here.

Speaker 2 (01:06:01):
As far as the pool of money, right, yeah, And if.

Speaker 3 (01:06:05):
You don't make it to the finish line, your husband's
going to get three hundred and sixty thousand, right, And
boy did you see eyebrows go up? And we suggested,
as we often do, take out a policy once you
crossed the finish line at retirement. You want to keep

(01:06:25):
it great, you want to drop it great. Right, but
you bridged that gap, right.

Speaker 2 (01:06:29):
Basically, you built the suspenders in a belt on the
safety of the family. Right, you know my mother, You know,
my mother worked like a dog for years because my
father had ten that my father died in nineteen sixty
eight at age forty four. Yeah, ten thousand dollars a
life insurance, and I think they had fifty six hundred
dollars on the mortgage in the house. Right, so she
was in really good shape financially.

Speaker 3 (01:06:51):
Right. No, no, no, no at all.

Speaker 2 (01:06:53):
So she worked like a dog for the rest of
her life until she remarried Jim Goodbody, which was a
great guy, super guy, fantastic guy. But make a long
story short. You can you can tell people you can
bring him to the troth, but you can't make him drink. Okay,
And I at my age and the amount of years
that I've been doing it now, I don't alligator wrestle anybody.

(01:07:13):
This is what you should do. It's just like we
just had a big appointment out in Syracuse, some clients,
major money, and I just said, listen, we can fix this.
We can do the right thing for you. And you
know what takes Chris, maybe thirty minutes. I can do
it in five or ten. And I can basically say,
you know, if you want to help, let's go. If not,

(01:07:35):
you know, we eat the donut and drink your coffee
and I'll see you later. What do you I mean, honestly,
what do you think?

Speaker 3 (01:07:42):
Yeah?

Speaker 7 (01:07:42):
I think once we go over like the approach, and
especially with radio listeners, like they kind of feel like
they already know us.

Speaker 2 (01:07:49):
They know us so absolutely they come in and they
don't they already know what our our secret sauces. That's
why you know. I always say this, Okay, our job
is not the stroke you you on the head. Our
job is to find I say this all the time,
and I say this to you guys. Let's fine as
many holes in the boat as we can, because that's
how they get hurt. They don't get hurt by us

(01:08:11):
patting them on the head and tell them that they're
nice and we'd love to do business with your right.

Speaker 3 (01:08:15):
I just brought up a joy when I first started working,
and I love it because you always sometimes you kept
me by surprise.

Speaker 2 (01:08:25):
Well that's how I like to catch you surprise.

Speaker 3 (01:08:29):
But I'll never forget in the beginning we had a
lovely couple. They came in and with me, or when
you first started in the business, it was you and
I was in one of our first retirement planning group appointment.
Lovely couple did very, very welcome them for themselves and
I said, you know, congratulations on your success. And you

(01:08:49):
looked at the husband and you said, this is a nightmare.
They're not sitting there. My jaw hit the table. Where
are you going with them? But you know quickly you said,
if something happened to you today, what is your lovely
bride gonna do? Yeah? And they had money, God love

(01:09:13):
them spread out over at least ten places.

Speaker 2 (01:09:17):
You know what he did. He didn't like what I
said to him, but he became a client, I know.
And the thing is is that what do you want
me to tell you? You want me to tell you that
you're you're great? And then something does happen to you,
and then the wife is going to come in to
us and say, why didn't you tell us this? Why
didn't you put me in a better position? Why didn't
you consolidate and simplify? And I knew exactly by two

(01:09:38):
I just said today two thousand and thirty two thirds,
two thirds, that's not that far away, guys. No, two
thirds of the investible assets in the United States are
going to be controlled by Oh women, women, God bless them.
I love women, God bless who.

Speaker 3 (01:09:55):
But you know what, when you when we sit with clients,
and we'll say it with a smile, you already know
we're down to earth people. You hear us on the radio,
But we want you to understand full of the reality
of the situation I have without charging clients a dime.

(01:10:18):
And I'm it makes my warm, my heart warm and
fuzzy because to me it was part of a service.
But I've settled a number of estates over the years,
and I will tell you if it's not set up properly,
it is not a picnic. And it's a lot of
And when you have family that's already grieving, going through

(01:10:41):
a difficult time, and then you have to put that
on top of the heap, it's not good.

Speaker 2 (01:10:47):
I was talking about Bobby today, our friend from golf.
He's probably listening to him and his bride. I used
to beat him consistently install.

Speaker 3 (01:10:58):
And you never let him live it.

Speaker 2 (01:11:00):
I won't. I got to bring the box scores in
to see how many point that doesn't see how many
points I scored on him, Probably a lot.

Speaker 3 (01:11:10):
But.

Speaker 2 (01:11:13):
He just turned off.

Speaker 3 (01:11:15):
He just.

Speaker 2 (01:11:17):
But to make long story short, Chris, you know, one
of the things that you've been doing is that you've
been into a lot of face to face meetings, especially
with me out in Syracuse. When we go out to Syracuse,
the uh, the messaging that we say consistently is consolidate, simplifying, basically,
build a plant, right right. I mean we're not trying

(01:11:38):
to you know. And a lot of people say, well,
you know, I don't know if I can put all
my eggs in one basket. What's the reason why you
put all your eggs in one basket.

Speaker 7 (01:11:46):
Well, for the surviving spouse first off, and then which
is typically hope, the woman, the bride. But the the
other thing too is when you have all your eggs
in one basket, if you have multiple accounts, you know,
we don't really hit on this enough. You can be
a lot more strategic with those investment assets and allocate

(01:12:07):
them in different ways. If you got you know, an
individual account a roth IRA and then your rollover IRA
from your four to one K or wherever it may
be from the roth IRA can be more growth oriented
and that's where you can get your equity exposure and
shoot for the moon and go growth because that's all
tax free and tax deferred growth. Whereas your larger amount

(01:12:30):
of money, which is typically your IRA, your rollover IRA,
you can let that be your sustainable account that you're
getting income off of and just draw all your income
off that because the government's going to send it out anyway.
And then an individual account, you know, it just gives
you you can even go individual stocks or even aggressive
or you know, however you want in that one, or

(01:12:51):
T bills or you know, there's a lot of different
strategies that you can plan for around that because that
all that money gets a step up in cost basis
for a legacy play.

Speaker 2 (01:13:00):
So I was thinking about, you know this morning I
was driving in. I think, yeah, I think you were
in the meeting the husband wife. They just retired. He
was an engineer for the train. Yes, right, yep. I
won't get into a lot of details, but I was astonished.
You know, they were worried about where they were going
to be, and they're just killing it. You know, they're

(01:13:23):
knock knocking the ball out of the ballpark. You know,
as far as their income and the amount of assets
that they have, they're going to be in a situation
where they're going to, you know, and then they already
are thinking about, you know, some wealth transferred to the
kids because she's going to inherit some assets from a
family member, and you know, and I applaud them. I mean,
you know, she said, listen, we don't need this money.

(01:13:44):
We're doing fantastic. We want to give this money to
our kids and make a difference in their lives. Amen.

Speaker 3 (01:13:51):
That's right.

Speaker 2 (01:13:51):
Amen to that. I agree one hundred percent.

Speaker 3 (01:13:54):
It. Just like I said, I love our team. We
have a lot of knowledge, a lot of experience, and
I know people aren't even prepared for half the things
we end up talking about when they come in and
we touch on we get things for people to think about.

Speaker 2 (01:14:12):
The greatest thing that ever happened to me, and I
mentioned this not slightly, but I want to overemphasize the
greatest thing that ever happened to me as a financial
advisor was to affiliate with Kevin Johnson and Dan Bouchard
because I learned how important it was to have protection

(01:14:33):
products and a retirement plan right. And I didn't, you know,
when I worked at Payne Weber and Morgan Stanley. Great organizations,
but they're predominantly running money. They're running money. Maybe not
so much today because this whole family office and wealth management,
et cetera. But the thing is is that I had

(01:14:57):
the opportunity not only to see devastating situations where people
were either uninsured or didn't have adequate amounts of insurance
or long term care policies that really, you know, I
used to you know, some friends of mine used to
always kind of giggles and geez, David, he's on life insurance.
Now we're gonna start wearing You're gonna start wearing a
leisure leisure suit and.

Speaker 3 (01:15:20):
Insurance.

Speaker 2 (01:15:21):
Yeah, you're an insurance guy. And the thing is is
that you tell me one person that you've gone to
with a check for five hundred million, a million and
a half death benefit that didn't say thank you so much.
You basically you've saved our lives or you've put us
in a better position.

Speaker 3 (01:15:38):
That's right, you know what.

Speaker 2 (01:15:40):
And shame on the people that pooh pooh that oh
and the people out there that can you know, put
people down because they're so inadequate themselves. But we're gonna
have to break here in about thirty seconds for a
hard break. When we come back, we're gonna talk a
little bit more about why it's important to get motivated.
And you know this is the time of year where
everybody's thinking about going to the beach or sitting on

(01:16:01):
the track, you know, watching the ponies run around. But
you know September is going to be hearing me. That's
the time. That's your target date. Give us a call
and get in the office. Five eight five eat zero
one nine nine is our office. Five one eight five
eight zero one nine one night and call us today
at one eight hundred talk w g Y. That's one
eight hundred eight two five fifty nine forty nine. I'll

(01:16:23):
be back after I play the drums here.

Speaker 3 (01:16:58):
All right, we are back, I think, oh we're back,
you know, David, I gotta tell you we're back.

Speaker 2 (01:17:06):
Jack.

Speaker 3 (01:17:06):
Before the break you started leading in to one of
the greatest moments that you have had since being a
financial advisor. And quite frankly, I'm a little hurt. I
thought you were gonna say me joining the team.

Speaker 2 (01:17:20):
Well, but on one to ten that was ten.

Speaker 3 (01:17:25):
You're always making up. You get red, white and blue
right there. You're hitting me, hitting me right in the target, bud.

Speaker 2 (01:17:31):
You just you know, you should have listened to me
years ago when I said join the team.

Speaker 3 (01:17:35):
I know every year when you're gonna call me, I'm
just grateful to God. I did.

Speaker 2 (01:17:42):
It's grateful to God. It's been a good ride so far.
It's like I said, we've got a great team. Right now,
Niko was gonna get out and get some downtime, which
is good because he needs it. You know, this is
a stressful but he's shot.

Speaker 3 (01:17:54):
He is shot.

Speaker 2 (01:17:55):
Been with me eight years. It's hard to believe eight years. Well,
and I'll you know, I said that the other night.
I'll match him up to anybody with his experience and
his ability. I said that to Frank and Bucky the
other night. You know, we're after playing golf. He's just
a great guy. Yeah, he's a great guy. And he's uh,
you know as all of you. You know, Chris's got

(01:18:15):
a degree in financial planning from Sianta College. You've got
forty three years economics and finance from ub and versaid Buffalo.
You know, this is a business where you know, you
can sit here and blow your horn. But that's not me.
I don't want to sit here and tell you how
great I am. And I got all these employees and
you know we're just super and you know, people do

(01:18:37):
business with what people trust. That's right, people do business.
I know myself. I found this carpenter right now. I
won't mention his name because I don't want to embarrass him.
But I found this young guy. But he's in his
early thirties. A good buddy mine owns a business in
Half Moon, and I called him and I said, you know,

(01:18:59):
can you give me his name? And he goes, yeah,
he's my son in law. And I said, I love
what he did to your business. And I said, you know,
he says he's he's superb. And when I say that
he's superb, it's so hard to find somebody today that
you can trust. You know, I'll be either. I'll be there.

(01:19:20):
And you know, they start the job and they vanish
for like two weeks, and not all but the number
my house in Lake George. The guy came. It's like
he had the three Stooges working for him. Right they're
downstairs in the basement when I'm refinished in my basement
and they're standing and Jack carrying concrete. They had the

(01:19:43):
heating system where they're supposed to close the ducks. My
whole house was covered with cement dust. Well you remember that. Yeah,
I wanted to kill the guy and he's like, I'll
fix it off. It's I ain't going to fix it.
See the door, don't want to hit you in the
tail bud. You're out of here and my attorney will

(01:20:04):
be out in contact with you tomorrow.

Speaker 3 (01:20:07):
Idiot, no al have do you know? One of the
things that I love is that when people come in and,
like you said, and so it's special, okay, they feel
like I already know it's because of the radio station.
I compliment you highly. I've never seen the power of
radio more. But at the same time.

Speaker 2 (01:20:28):
What does radio do? Radio allows you to have your
first appointment with the individual. Radio allows you to basically
have a conversation with people every week, and they know
exactly what your thoughts are and how you should do
things for your pre im post retirement years. Okay, that's
all we do is pre impost retirement planning predominantly right now,
Chris will work with younger people because of his age,

(01:20:50):
You and I because of our age, you know. I mean,
if somebody comes in that's in their thirties, right in twenties,
maybe forties, they're going to work with Nigo and Christopher
more than they're going to work with us. And that's
great and that's what they should be doing. That's right,
because that's the relationship that these guys want that are
going to last. Like I've been dealing with people for
over thirty years.

Speaker 3 (01:21:11):
And another thing that's also beautiful, which was taking care
of beautifully when I joined your team.

Speaker 2 (01:21:16):
You like that word today, beautiful.

Speaker 3 (01:21:18):
Beautiful baby, But you know the successions already in place.

Speaker 2 (01:21:24):
Yeah.

Speaker 3 (01:21:24):
Absolutely, And that's a big load off my mind, yep,
because I'm grateful. I've had clients well over thirty years
and I still have them, and I want them to know,
God forbid if something happened to me on the way
out of this radio station. You're taking care of them. Yeah,
and they're taking care right. Well.

Speaker 2 (01:21:45):
Not only that, but the thing is is that you
and I both know the business. Chris and I had
a phone call this week with a young gentleman client
of our son that's looking to get into the financial
services industry. I think I told you a little bit
about this, Yeah, And you know what I did is
I laid I laid it down black and white. This

(01:22:07):
is reality. This is smoking mirrors he's getting smoking mirrors now,
not reality. Okay. So after I had a chat with
him and we had a conference call, you know, I
also put him in contact with the young gentleman that's
hit about his age, that's going to a different path
than he's gone. I think somebody that's in that's trying
to get into the financial services industry should join a team.

(01:22:31):
And there's a lot of reasons for that. It's the
knowledge you're not under pressure.

Speaker 3 (01:22:35):
You know.

Speaker 2 (01:22:36):
Yeah, you're maybe you're not going to make as much
in the beginning, but you're going to basically get a
very very good understanding of all the aspects of the
financial services industry because it's just not managing money.

Speaker 3 (01:22:49):
Oh my god. No, nope. And that's again, we're so
diversified in the services that we offer. We're very experienced.
I said, when people come into our office for an appointment,
I honestly believe they're not prepared for half the stuff
we end up talking about.

Speaker 2 (01:23:09):
And again, the only thing that I prepared for is
that bread that we never got. When is she coming
in again? Not soon enough?

Speaker 3 (01:23:20):
Not?

Speaker 7 (01:23:21):
Well?

Speaker 2 (01:23:21):
All I know is I want into the kitchen to
get a piece of the bread.

Speaker 3 (01:23:25):
Did you get a piece of that one. And I'm
on record, I got one flight, I got one because
I am the sugar boy.

Speaker 2 (01:23:37):
All I know is that, you know, Lisa's bag was
a little bit more thicker when when she walked out
the door after work than when she made that You
have the berry. But I'm I'm on my diet. I
got to stay away from all that crime.

Speaker 3 (01:23:57):
Give it to me.

Speaker 2 (01:23:58):
So you've been in the business now for a year
and a half, four years? Four years? Is it really
four years now? Yeah, twenty twenty one. I started full time. Wow,
Oh my god, Jesus, four years. It's a quick time
goes by. What What's what's your what's your perception of

(01:24:20):
the financial services industry right now, as far as what's real,
what's fact, and what's fiction. What do you think the
big misconceptions are of our business misconceptions? I don't know.

Speaker 7 (01:24:34):
I think the misconception is probably that there's like some
magical way to just get rich quick of investing your
money and like stuff. I like that if you haven't
done it for the last thirty forty years, trying to
be a miracle maker and get some unrealistic portfolio returns,
it's probably not going to happen. My overall opinion of it,

(01:24:58):
I think the client facing side for me personally, is
a lot better than the operational, like the back end side,
because that's where I was. For like, you know, most people,
it will be like, oh my god, hey, when'd you
start here? You just start But I'm like, no, I've
been here for four years, but I just was on
the back end for the first you know, three really, but.

Speaker 2 (01:25:16):
I think it's critical that you understand the back end.

Speaker 7 (01:25:19):
Yeah, I know how to do eight to Z now
as far as when someone comes in the door to
when their money gets invested, so that's that's huge.

Speaker 2 (01:25:26):
As far as like you that's what that's right now, yeah,
I think you should.

Speaker 7 (01:25:31):
I mean, I think it just helped get a full
picture of where everything needs to go. But yeah, as
far as the financial planning industry as a whole, mostly relationships.
It's honestly all about just like you guys are saying,
like people trust in you, Like it really comes down
to that, it's not really.

Speaker 3 (01:25:51):
I think.

Speaker 2 (01:25:52):
Well, I think the other part of it is when
you say the relationships and stuff, I mean, I think
the biggest thing that we offt her clients. And I
know I'm kind of beating our drum here, you know,
banging on my chest. And you and I think talked
about this a week or so ago. Is the power
of open architecture and having no bias that the client will,

(01:26:19):
our conversations will direct us in the where we have
to go for solutions, solutions, not products, solutions, because sometimes
it's not about investments. Sometimes it's you know, we've we've
had clients where they've come in and you know, nothing
negative about it. They just don't have a lot of
money and they needed some estate planning, they needed some

(01:26:40):
basic wills and powers attorney. And you know, we got
a situation right now out in Syracuse. A woman, God
bless her soul. She's worked her whole life. She's been
a single parent her whole life, and she's worked hard,
you know, and she was actually embarrassed when she came in.
She didn't think she had enough in order for us

(01:27:00):
to sit down and have a chat. And I think
that's the thing that I would say over and over again,
I don't care, and I've said this a million times,
whether you got one dollar or one hundred million dollars,
we'll sit down with you and we'll have a conversation,
because I feel obligated if I if I'm on radio
and we're messaging to people, I feel obligated that we
have to help them.

Speaker 3 (01:27:20):
Absolutely, No, I've always loved that about our team because
anybody that cares enough to try to improve the financial situation,
the lives and it's it's a beautiful way to give back.
You know. We don't charge fees to sit down and
talk to people.

Speaker 2 (01:27:39):
And there's always you know, like a cookie or a cake.
Or my son got three donuts the other day and
eat all three of them in Syracuse. No I did not.
Oh I'm sorry, you ate two of them. He gave
one to Priscilla. Yes, I had too. And then I
don't credit well, credit to you know how much willpower
I had to have. There's a place way. Yeah it's white. Yeah,

(01:28:01):
that that big, that big. It was an inch. An
inch of a donut is not much.

Speaker 8 (01:28:07):
Perfect bottom nighte Geezy's, Guessy's, Geezy's, Guessi's Bakery, or they
have the best donuts, the best.

Speaker 2 (01:28:23):
So all right, we're gonna come back for our last segment.
This is the this is the cooking show.

Speaker 3 (01:28:31):
At the time.

Speaker 2 (01:28:33):
I'm Chef Dave. You can come with Chef Dove. We'll
be right back after this quick message. Retirement is in
a Sunday thing. It's a now thing. Whether you're just

(01:28:54):
starting out or nearing the finish line. The best time
to build your retirement plan is to don't wait for
the right moment. Let's create a plan that works for you.
Secure your future and the freedom that comes within. Call
my office today and take action eighty eight five EID
zero one nine one nine. That's eighty eight five eight

(01:29:14):
zero one nine one nine, and your future will thank you.
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.

(01:29:35):
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
laid out retirement income plan. Call our offices today to
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After forty one years of being in the financial services business,

(01:29:57):
you need to start taking action to start build bilding
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(01:30:17):
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(01:30:40):
Or visit us at our website rpgretire dot com to
schedule your complementary consultation. Your future will say thank you.

(01:31:04):
All right, we are back. How Dave Copek, I'm here
with Chris McCarthy and Chris Kopek, otherwise known that special K.
I don't know what's your nickname in the office.

Speaker 3 (01:31:16):
That's right, which I still am fascinated how I got
that nick name.

Speaker 2 (01:31:20):
Because we can't find you alf the time. You're out there.

Speaker 3 (01:31:23):
Oh my god.

Speaker 2 (01:31:24):
I don't want to tell you doing your car all
the time. But you're in your car all the time.

Speaker 3 (01:31:27):
You leave my car alone. It's a nice place to
be at, my little oasis.

Speaker 2 (01:31:32):
Where's Chris.

Speaker 3 (01:31:32):
He's on the car, that's right, taking a break.

Speaker 2 (01:31:35):
Yeah, all right. A couple of things that I want
to go over first and foremost is that you know,
we're we're heading into the probably the last This is
usually a busy time of year for a lot of people.
This is usually the time that everybody is getting their
vacation time. You got any more vacation coming? I do,
I just haven't planned it. Plan Chris. We're going to

(01:31:59):
Dominican Public for a wedding. Yeah. Outside of that, no, no,
which I don't look forward to, but we have to
do it. You know, that's five days and one hundred
degree weather, so that should be real fun. The perfect
time yere to have a wedding down there, right, a
white wedding. You know, there's all sorts of requirement. I

(01:32:20):
said to the other day, here's the requirements of what
you have to wear? I said, what well I have
to wear? You know that they did that. Yeah, there's
criteria as far as what you have to wear wedding.
It's just like ideas. They're trying to have it like, yeah,
they're giving you ideas.

Speaker 3 (01:32:34):
It's not Oh that's interesting.

Speaker 2 (01:32:37):
I don't know. No bathing suit on the beach? Come out?
What's that all about?

Speaker 3 (01:32:41):
Speed out?

Speaker 2 (01:32:42):
Baby? My younger days not now. So you know we're
getting to that time I want to get into is
that you know, people are starting to dot the rise
and cross their t's and making sure that they're doing
what they're supposed to be doing on track. You know,

(01:33:04):
September will be here before you know it. We're booking
already in September for appointments I know. So one of
the things that I would say is that if you
want to come in and see us, probably a good
time to get on the telephone and call someone in
the office. But how have the appointments been going so far?
What's your overall consensus as far as the people that

(01:33:27):
we're seeing.

Speaker 7 (01:33:27):
Now right, I mean, I think we've had some really
good appointments over the last couple of months. But it's
just like anything else, Like they hear us on the
radio show and they already kind of know our philosophy
on things, so when they come in, it just seems
to click.

Speaker 2 (01:33:43):
Yeah.

Speaker 3 (01:33:44):
But yeah, yeah, I mean, I think this really sets
a warm introduction. Right when we get to see people
at the office, I feel they feel they know us, right,
and I think that really breaks a lot before they
get there. And then when we sit down and we
make it painfully clear in the beginning, we're just getting

(01:34:08):
to know each other, right. There's nothing in our back
pocket that we're just waiting for that magic moment to
pull out and say this is what you should do.
We don't even know you yet, right, we get to
know each other. We want it to be a good
fit for both parties.

Speaker 2 (01:34:25):
Yeah, I think, you know. Communication, that's one of the
things that we've tried to overemphasize, not only as far
as our email blasts that we send out on a
weekly basis, but our night e em no contact and
all that.

Speaker 3 (01:34:37):
You know.

Speaker 2 (01:34:37):
That's one of the things that I talked to Jared
about the other day, is how important it is in
order for us to stay in contact with our clients,
especially if they call and they want to talk to us,
it's imperative that you get a hold of us and
let us know that we need because I know myself personally,
when I call and I leave a message for somebody
and I don't get a return phone call within a
certain period of time, I feel like, well, they must

(01:34:59):
not think I'm a important you know what I mean,
or you know, if you're busy, call and to say
we're busy, but we'll get back to you, you know,
as soon as we can. We'll schedule the time. And
I think that's one of the things that we try
to overemphasize. You know, we understand that, you know, you know,
when you manage assets for people life savings, it's it's
important for you to have communication.

Speaker 3 (01:35:20):
Well, I love, go ahead.

Speaker 7 (01:35:23):
No, I was just going to say, like, well, that's
the same thing that we're doing on the back end
as far as showing them in the appointments e money,
the projections that we do and then what we're doing
on the back end through nitrogen and all the portfolio
like analysis and numbers. You know, a lot of the times,
like we just the meeting yesterday, I said, I show
this stuff to people because you know most of it's

(01:35:45):
going to be over your head. I understand that it's
going to be overwhelming amount of information, But this is
how we build out portfolios. This is like the numbers
and the criteria that we're looking to accomplish with these,
so you know what we are doing.

Speaker 2 (01:35:59):
You know, on the back end.

Speaker 7 (01:36:00):
Most of the time, most people come in and they're like, oh,
you know, I had a financial advisor. I have no
idea what what that guy's doing right right? I have
no idea why I'm paying a fee. I feel like
I'm just sitting in these positions.

Speaker 3 (01:36:10):
But it is.

Speaker 7 (01:36:12):
It's true. That's a lot of what you hear. So
it's like, this is what we're doing on the back end.
I always like I'm chuckling a little bit because I
always liked the one. I don't know if they're charge
of me, Yeah, I don't think they're you know, I
don't know. I have no idea how they're getting paid.
That's not good. You know, you should know how you're
getting paid absolutely all right. And when you have a client,

(01:36:33):
when people come in to see it and we put
a game plan together, I think it's equally important for
all of us. Not that they know every specific detail,
but they have a good general knowledge of what we're
doing and why we're doing it. You We recently had
a client come in who became a client two hundred

(01:36:56):
and twenty positions.

Speaker 2 (01:36:58):
Oh yeah, I.

Speaker 3 (01:36:59):
Don't think him Buffett has two hundred and twenty position.

Speaker 7 (01:37:02):
Yeah, and in a in an individual account. You know,
that could make sense, you know, with all this direct
index thing they're doing now, if they were like well
harvesting losses and like buying in and like capturing losses
in the account for tax purposes. But it was in
an IRA account, so it was in his rollover IRA account.
The guy had two hundred and twenty four positions. You're

(01:37:23):
kidding me. No, I'm not even kidding. No, it was
it was mine bizarre. I've never seen that many positions.
What was the reason for that? No idea, That's what
I was.

Speaker 3 (01:37:32):
And the client certainly couldn't tell you.

Speaker 2 (01:37:34):
Yeah, he said, he's like.

Speaker 7 (01:37:35):
I just I felt like the guy wasn't listening to me,
and I didn't like how exposed I hear that the equity.

Speaker 2 (01:37:40):
Hear that, Yes, And I actually had a woman came
in here one on one time I'm not here into
the office when we had a long chat and she goes, uh,
I've I've asked my financial advisor why I have these
certain positions in my portfolio. And his response was is
that don't worry about it.

Speaker 3 (01:38:00):
Yeah, don't worry about it. Don't get back.

Speaker 2 (01:38:05):
I can imagine if I said that the sof of
ar I don't worry it's insane. Don't worry about it.
We don't worry about it. I mean, it's your money,
you should find out.

Speaker 3 (01:38:14):
Well.

Speaker 2 (01:38:14):
To make a long story short, the guy was basically
taking her to the races. He was churning the account.
And what this guy did to this poor lady was
just unbelieve. I actually called the guy and I said,
I don't know I sleep at night.

Speaker 3 (01:38:27):
You know.

Speaker 2 (01:38:27):
He went up what side of me, down the other side,
and I said, you know, I sleep pretty good at night.
But I don't know how you look yourself in the mirror.
What you did this poor custer her thousands and thousands
and thousands of dollars in taxes, you know, taxes.

Speaker 3 (01:38:40):
Another thing that I find mind boggling is that when
people come in with their current portfolio and they're taking
plenty of risks, but they're all over the map. And
when you're looking at twenty three and twenty four when
the S and P was up what twenty five twenty
six percent? Yeah, and do over way to return they

(01:39:01):
were lucky if it was two or three positive. They
don't realize that the overdiversification their dogs are pulling down
the good performer.

Speaker 7 (01:39:12):
Yeah, or or the same thing that we just saw too,
is like you got, uh, you got a portfolio, you
got it all chopped up, but you've got four different
large cap growth funds in there doing the same thing,
invested in the same underlying positions, you know, and just
performing slightly different than one another. So like that's why

(01:39:32):
we go over all that is just to say, these
are all the positions that we invest in. Everything in
here as its own job and responsibility in the portfolio.
You know, it's got its own area of the market
that we're trying to strategically hit. And that's this is
what our consensus is on it. On the back end,
like it or not, we're just gonna less at least

(01:39:53):
let you know, this is where your money is going
to be invested in.

Speaker 3 (01:39:56):
Why one of the things that I love is the
income model we design and we go over each specific
position because we show them it has a common theme.
This is why we're in what we're in, right, And
I think the clients appreciate that because they understand the

(01:40:19):
fundamentals of what we're doing and why we're doing.

Speaker 2 (01:40:23):
No, I agree, I agree. The the bottom line gets down
to is that, you know, one of the things that
we try to overemphasize too, is that we've got a
lot of experience and expertise that comes in the office
with our wholesalers and also our relationship, our relationship with Fidelity.
So but Chris and I are going to be back
from twelve to one to do retirement. Ready, we're going

(01:40:45):
to talk a little bit about retirement income distribution.

Speaker 3 (01:40:47):
Today. You're heading to the gym. Hell no, no, no, no,
I got some family. I got some family in town.
Oh good for you your daughter. No, it's my sister
Karen and her family from Michigan.

Speaker 2 (01:41:00):
Oh good, that's nice.

Speaker 3 (01:41:01):
Yeah, I got to see him briefly. But we're gonna
spend some time today. So stop fun, stop and pick
up some donuts. Hell no, no donuts needed. You know
what I did. I bought a couple of big eye around.
We're gonna have some steak sandwiches. Oh forward today, cook
them where my brother in law, he's the expert griller.

Speaker 2 (01:41:23):
Oh is he?

Speaker 3 (01:41:25):
Yeah?

Speaker 2 (01:41:25):
I cooked Thanksgiving. I did a prime rib, best prime
mber I ever had. I've got it Fred the butcher.
He sliced and diced it and told me how to
season it. Even my brother in law, Jason, who loves
prime ribs. So that was a good prime rib. So
all right, Uh, we're gonna have to break here anything
that we discussed.

Speaker 3 (01:41:44):
Uh.

Speaker 2 (01:41:44):
We offer a complimentary consultation in any of our five
locations here in New York State.

Speaker 3 (01:41:50):
Uh.

Speaker 2 (01:41:50):
If you're out of sight, they're not in the state,
you're out of the area. We'll come to you. As
they said, my son and I are flying to Florida
just coming week to see some people, but would love
to sit down with you to see if we can
be of assistance. Pretty simple. Just dial our number eight
eight eight five eat zero one nine one nine. In
the area code, you can just use five one eight.

(01:42:12):
But if you're outside the five win eight, you can
call us at eight eight eight five eight zero one
nine one nine and just say i'd like to have
a chat, sit down with the retirement planning group and
see if we can come to some kind of a
path in order to have a successful Remember that two
thousand and thirty, that's a number, that's staggering. Two thousand
and thirty. Two thirds of the investible assets will be

(01:42:35):
controlled by women. It's staggering. But trillions of dollars. Yep,
I'll tell you what the village is that place, there'll
be all sorts of financial They'll be like bees flying
around down there, down to the villages. So but everybody,

(01:42:56):
have an absolutely fantastic weekend. Be safe. Hopefully we'll see
some sunshine. Fingers cross, fingers crossed. Yeah, yeah, we're gonna
see a little bit of sunshine. Your mom's birthday today,
so yeah, happy birthday, mother.

Speaker 3 (01:43:11):
Happy birthday. What a dollar?

Speaker 2 (01:43:14):
Yeah, Julie sixty years old to the magic sixty She
is a doll. Yeah, she's a great girl.

Speaker 3 (01:43:23):
That whole family, what a just what a blessing to
know them?

Speaker 2 (01:43:25):
Yeah, you've known them for what fifty years? Over fifty years.
But again, everybody, have an absolutely fantastic weekend. My son
and I will be back at twelve to do retirement
Ready live if we could be of assistance, it would
be an honor. Five win eight five eight zero one
nine one nine. We'll see you next week for Retirement

(01:43:46):
Planning Show.

Speaker 7 (01:43:47):
The information or services discussed on this show is for
informational purposes only and is not intended to be personal
financial advice.

Speaker 2 (01:43:53):
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.