Retirement Planning Show

August 2nd, 2025. 

Episode Transcript

Speaker 1 (00:00):
This is Dave Kopek. This is a retirement planning show.
A little technical difficulty this morning, but we are here
just saying, know, there was two tracks playing there, so
apologize for that. We're getting all straightened out. I'm here

(00:20):
with my son, Christopher William. It is Saturday morning, August Christopher,
August second, twenty twenty five. Times flying, hard to believe
to be asked with you, hard to believe that we're

(00:41):
we're gonna blink our eyes. Your sister goes back to
college in less than two weeks. Yep, back in the classroom,
getting educacated. So yeah, so we got a lot of
talk about today. Of course, the markets did not do

(01:02):
well this past week. A lot of reasons for that.
We'll get into some of the dynamics. You know. Don't
get your knees and knocking. We're gonna be okay. You know,
there's a lot of stuff going on out there. One
is the word which we're consistently hearing, tariffs. And the
second thing that we're consistently hearing, of course, is what

(01:23):
the dead man walking? Who's the dead man walking?

Speaker 2 (01:27):
Chris, I don't know who the dead man walking is.

Speaker 1 (01:32):
His name is Jerome Powell. Oh, okay, Fed Chair. If
you're at a party and you're in a room and
nobody wants you there, would you stay long? No? No, no,
not very long. They've done everything to these two dissenters
on the board, the governor's one left. One quit yesterday,

(01:57):
so there's an indication that he might not make it
through this weekend, that his resignation might be coming in.
So we'll see. He's pretty persistent that he's not gonna
go anywhere. But Wall Street has lost faith in Jerome Powell.
I don't care who you listen to. Delarian came out

(02:17):
basically saying he's got to go. Our good friend Larry
Kudlove has been saying it for an extended period of time.
The powers to be in the White House. You know,
he's just made a lot of mistakes and right now,
without a doubt, there is a lot of uncertainty in

(02:39):
regards to the FED. And I think it's gonna get
resolved in a very short period of time because it's
important that that organization is steady. So you know, I
don't have to tell you that. You know, we're gonna
see tariffs all over the news and bottom line gets

(03:01):
down to is that where it's going to shake out.
A lot of the companies are coming to a compromise
with the United States, and I think overall, as I said,
there's a lot of money coming into the government bank
accounts from these terroriffs. Ultimately, I think it's going to

(03:24):
work out where everybody's going to come to a rational decision.
That's the word that we've always used in business. I
always say, there has to be wasn't one thing fair.
It has to be fair for you and it has
to be fair for me. And I don't think that's
any different with countries. So overall, everybody, we know, we've
had an unbelievable rally in the markets. You know, there's

(03:47):
always a little bit of worry out there. The thing
that it's amazing to me, Chris, is that there's still
seven trillion dollars in cash on the sidelines.

Speaker 2 (03:57):
Yeah, a lot of people are collecting on high interest rates,
so money market funds and funds that are sitting pretty liquid,
or T bills they're getting you know, four around four
percent still. So a lot of people look at that
and they're like, I'm just gonna for the more conservative investor.
They'd rather just leave their money sitting there where they

(04:18):
can still grab it if they need it and not
have to worry about. You know, the market, it's been
pretty volatile this year, you know, from down fifteen percent
all time highs again and then now we're kind of
seeing it turn around again after the FED just met.
So to some people who don't like the stomach the

(04:39):
roller coaster ride, you know, a four percent interest rate
or yield on these money market funds is exactly what
they want, and.

Speaker 1 (04:49):
Get higher than that with some other asset classes, myga's
corporate bonds.

Speaker 3 (04:56):
You know.

Speaker 1 (04:56):
We're big believers in fixed income, have been for quite
some time. Have not seen the bang for the buck
yet as far as total returns, simply because the FED,
that whole scenario has not changed. But I think it's
short lived, and I think you're gonna start seeing price
levels and fixed income moving up. It did this on Friday,

(05:18):
pretty had a pretty strong rally twenty five basis points
in some of the short term treasuries. So be patient.
You know. I listened to a gentleman the other day
when I was driving back from Syracuse, and there's going
to be changes in Washington, and he's in the camp

(05:41):
that the changes that are happening in Washington are going
to be very positive, very positive. And you know, one
of the things that we're talking about consistently here is,
you know, corporations that are basically bringing trillions of dollars

(06:04):
of investments here domestically to the United States. That's going
to have a huge impact not only on our economy
but also as far as the quality of life for
a lot of people. You know, in Syracuse, just north
of Syracuse, Micron Technology is building this massive facility. I'm
not too sure if they put a shovel on the

(06:25):
ground yet, because my understanding is that the State of
New York is jerking them around as far as environmental
where I guess they announced another facility at the same
time overseas, and that's up and going already, and we're
still spinning our wheels here in New York. But perhaps
they'll get their act together. I know they're doing a
ton of infrastructure in Syracuse with the roads and stuff

(06:48):
in order to facilitate what's going to happen there just
north of Syracuse, and you know that's going to have
a huge impact. I mean, if you think about upstate
New York now it's amazing the amount of technology that
is over the last twenty years. Nanotechnology right here in
Albany is booming, all sorts of cranes and all sorts
of construction going on. So, you know, if you look

(07:12):
at where we stand, we've had a nice run in
the financial markets, the S and P five hundred up
over twenty percent since it's April, Firth lows, and we're
going to experience some volatility as markets digest higher terrace
softer jobs market. Possibly, I don't know. He fired, he

(07:35):
fired the person that was doing all the data work
on the jobs. So you know, he's running around Washington
with his guillotine and we'll see what happens there. But
keep in mind that we're in the middle of the
second quarter earning seasons. Thus far, eighty eight oh eighty

(07:57):
percent of companies have beaten earnings and expectations, which means
corporate earnings growth remains on track positives for the year.
What's the mother's milk of the stock market, earnings, right, earnings.
So we're gonna take our first break when we come back,
talk a little bit more about the markets. I'm gonna
talk a little bit about some of the things that

(08:17):
are happening right now. We'll be back after this quick message.
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(08:37):
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(10:26):
thank you. All Right, we are beck, I'm Dave Kopek.
I'm here with my son Christopher William. It's going to

(10:48):
be a beautiful day in upstate New York. I just
said to Chris, the track will be packed. Yeah, the
Whitneys today. The Whitney is today. So I just met
a gentleman at Syracuse Sest. We're having a long chat.
He loves Saratoga. He's coming for Wednesday, Thursday, Friday, Saturday
and Sunday of this coming week with his buddies. But

(11:10):
his girlfriend said, you don't really think that you're going
to Saratoga by yourself too, So his girlfriend's coming to So.
You know, one of the things that I wanted to
talk a little bit about today is if he get barons.

(11:34):
And I know that Chris is saying this as we
see new people come in the door here. You know,
there is an astronomical amount of money that's out there.
I mean, I travel a lot. We've got clients all
over the country. The common theme that I'm starting to
hear over and over and over again is what am

(11:55):
I going to do with all this wealth that I've created?
You know, some of us have been very fortunate in
our lives. Hard work, putting our nose to the grindstone.
We've ended up with a sizable, nice little nest egg.
But for some of us we've got ideas as ultimately
where that money is going to go. But Barons today,

(12:17):
you know you're going to consistently see this because Wall Street,
the main investment banking firms, they want your money. And
there's about eighty four It says in Baron's day, the
oldest generation, which is of course, you know the boomers
right now, is going to pass on eighty four trillion
dollars to our children and grandchildren, which is a whole
hell of a lot of money. And statistically it's not

(12:42):
going to them directly. It's going to go to what
the spouse, the female, it's going to go. So there's
a great wealth transfer and the first of it will
go to widows. So you got all these investment banking
firms doing all these ads and marketing pieces, you know,
directed towards win and you know how we want to
basically hold your hand and make sure you're okay, which

(13:05):
I kind of hold my nose when I watch it
and look at it, but it's not because I don't
believe that you need help and assistance. But it's almost
like they're saying, is that you know we want you,
you know, we want you to basically because we want
to make sure that the money stays with us, So
make sure that the wife is at the table the
next time he came in. You have a lot of

(13:27):
conversations about this with your face to face meetings as
far as the amount of wealth and ultimately how I'm
going to transfer this money to the next generation.

Speaker 2 (13:37):
Yeah, I mean, estate planning is always part of every appointment,
especially if legacy is important. If they have kids or
grandkids or nieces and nephews or everyone's got the money's
got to go somewhere.

Speaker 1 (13:51):
So it's not.

Speaker 2 (13:54):
It's not not part of the conversation. It always has
to be part of the conversation because at some point
point you're going to pass away.

Speaker 1 (14:02):
Yeah, it's just inevitable.

Speaker 2 (14:04):
So what you've accumulated, you have to have some type
of plan set up for where it's gonna end.

Speaker 1 (14:11):
Up, and sooner's better than later.

Speaker 2 (14:16):
Yeah, I mean you have to have a beneficiary on
your account. I feel like that's like the most basic thing.
But as far as like setting up a plan on
you know, deciding on legacy legacy, Yeah, charities if you
want to involve grandkids or nieces and nephews or other
family members or friends, like it's there's a lot of

(14:37):
thought that needs to go into it. And you also
have to account for if you know, what happens if
your primary primary beneficiary dies before you do so, like
you got to have some contingents or backup plan as
far as where you would want all that money to go.
You can't just think of one option. You got to
think of at least two. Yeah, no, I agree.

Speaker 1 (15:00):
But you know, the thing is is that when you
start seeing a lot of the marketing that's more geared
towards you know it says specifically in the article and Barns,
which I think basically tells the whole truth here, is
that financial advisors are taking steps to prepare female clients
for the increase of financial responsibilities after their husband die.

(15:22):
In part, they want to ensure that the money stays
with them. That's what they want. They want continuity. They
want the money not to go out the door. They
want the money to stay in the door. And I
understand that, right, And but the thing is is that
if you just do the right thing right, if you
sit down and work with people and have a good
conversation and be honest and basically be straightforward, there really

(15:46):
should be no worry about continuity because then the children
have already had some conversations with you, most likely because
a lot of times the trustees on the trust or.

Speaker 2 (15:56):
What the kids right, Yeah, I mean having them a
part of the conversation. Obviously, they should have some familiar
They should be somewhat familiar with who you are and
that you have a financial advisement team and that if
you know, something were to happen to them. These are
the people that go to because this is where all
your assets are. So the beneficiaries should have some sort

(16:18):
of understanding on at least where the money is.

Speaker 1 (16:21):
You know.

Speaker 2 (16:22):
That's like I mean we were saying it last week.
People who were very close lips about their their funds
and where they're at and how much they have and
don't talk to their beneficiaries. That could definitely be a
shock to some people if if they have no idea
where to go in retirement or not in retirement after
death heaven, Yeah, that's another form of retirement.

Speaker 1 (16:46):
I'm not going to that other spot. That's the real retirement.
And I see that turn, I'm gonna take a left
our stop mean me no want to go there? So
you know you don't. You don't show up at the
funeral and basically say here's some paperwork. You know, we
want to basically continue to you know, work with you

(17:06):
in your accounts. So I just think it's important to
have dialogue and be able to sit down and have
open conversations. You know, errors are going to receive a
whole heck of a lot of money. If you don't
have children, which some of our clients do not have children,
that really is you got to figure that one out,

(17:31):
especially if you have a substantial amount of money, you know,
a million, two, three, five, whatever it may be, you
know where that where's that money going to go? There
are some benefits in order to do gifting in your lifetime,
not only because you get to see it and enjoy
it and watch it happen, but there's tax benefits that
are associated with it. So I would I would just

(17:55):
make sure that you understand is that you know, there
is a whole hell of a lot of money that's
out there right now. I'm always astonished sometimes when I
sit down with people. I had the opportunity to sit
down with a gentleman the other day and we had
a great conversation. We're doing some major estate planning. He's
a gentleman that lives here in upstate New York, and

(18:17):
he's just wonderful. They're just wonderful people, and I know
that we're going to really have a great relationship working
with them. And we had a long chat and he says, yeah,
I gotta have you an introduce to my buddy. He's
a billionaire. He's a billionaire. And you don't realize, you know,
the old saying the millionaire next door. I mean, now

(18:37):
you're getting to the point where some of these people
are over the billionaires next door. So you know the
thing is, of course, you know that's multi generational planning,
whatever else there might be. But you know, one of
the things that we kind of pride ourselves on is
that we really have a great relationship with Fidelity. If
Fidelity can basically empower us to do a lot of
things that you don't see unless you get underneath the

(19:00):
hood as far as their abilities. We're part of Fidelity
Institutional Wealth Advisors. We have a lot of I talked
to Charlie before he went on vacation. He's over in
Greece right now. But a conversation at the end of
the week on Thursday, and you know, it's pretty amazing
what these major investment banking firms can bring to the

(19:21):
table and everything from portfolio management, hedge, alternative investments, to
estate planning to the Holy Enchilada. So I know that
a lot of times when people look at the Retirement
Planning Group and they see our picture or our website,
it's only a fraction of the capabilities that we have.

Speaker 2 (19:42):
You agree with that, Yeah, I think people are pretty
shocked as far as how in the weeds, Like we
always get the question within appointments like what are your
what do you guys do? What's your favorite color? Yeah, no,
not that, but what do you do? You know, what
do you guys do on the back end? Or what
do you how do you guys? You know, explain to

(20:05):
me how me paying you this fee makes sense? Is
you know something that a lot of people will just
throw out there. You know, some people don't, but everyone
thinks it. I feel like so when we go over
like Nitrogen, that software system and how we build out
all of our in house models, through all the conversations
that we have with all these different investment financial institutions,

(20:29):
I think that gives them kind of an insight a
lot of people. I mean, I just had a meeting
this past week where you know, we're showing this guy
Nitrogen and all the models that we have and how
we build them out and how we talk to all
these different financial firms for all this information. And he's like, yeah,
this is way over my head. He's like, this is
you guys, I understand. He's like, I understand none of this.

(20:52):
He's like, I'm a car guy, so I don't. I
don't understand what you guys are talking about. But it
seems like you know what you're doing, and we don't
say it to kind of be like talk over people's head.
It's more so that people understand what we do on
the back end to make these investment decisions and that
these are all very well vetted investments.

Speaker 1 (21:10):
Yeah, that they're getting into.

Speaker 3 (21:12):
Well.

Speaker 1 (21:12):
The thing is is that in the world that we
live in today, you know, we try to overemphasize to
people that you can't be everything to everybody and you
have to basically have relationships. We have a lot of
strategic partners that we've been working with for decades. This
is my forty third year, which is hard to believe.
Soon going into my forty six here. That's a long time.

(21:37):
That's a long time. That's a long time. But the
bottom line gets down to is that you know, after
doing this for as long as I have been doing it,
you basically understand where you need to go and that
people have the expertise and the experience in order to
facilitate what you're looking for, whether it's the legal side
of it, the tax planning, the alternative investments, portfolio managers, whatever,

(22:01):
and it's like anything else, it's like a relationship, it's
like a family. You gravitate towards people that you feel
warm and fuzzy with and you build out portfolios that
hopefully can be be positive the end result that you want,
the end result that you want. So we're going to

(22:23):
have to take a break here. We have open lines.
We're actually live in the studio today. If you have
any questions or comments, you don't have to be Bashel.
We get a lot of phone calls out in our
Syracuse radio show, and you know, we need to get
a few more here in Albany. So if you want

(22:44):
to talk about anything specific about pre and post retirement planning,
it's pretty easy. It's one eight hundred Talk WGY. It's
one eight hundred eighty two, five fifty nine forty nine. Also,
you can listen to us on iHeartRadio on the podcast
you can win there. Listen to any of the previous shows.
So and again we offer a complimentary consultation. But we're

(23:06):
live here today one Talk w g Y. I'm Dave Kopek.
We'll be back after the news. All right, you're back.

Speaker 2 (23:54):
I think we should get back into the market and
what's going on recently, cause I think there is a
lot going on.

Speaker 1 (24:02):
I's got myself a new another hot coffee. There you go,
all right, No, Molear's bottoms up the uh.

Speaker 2 (24:11):
You know, there's a lot of news going out right now,
not just with the market, you know, with trade deals,
with where we're at, as far as people thinking we're
in this. You know, they're relating this AI bubble to
like the tech bubble or the dot com where you
have all these different technology companies and software companies that

(24:33):
are kind of overinflated as far as their price point.
And you know, some people are saying this is going
to turn around. Some people are saying that, you know,
the their earnings just came out this past week.

Speaker 1 (24:46):
Yeah, Amazon didn't do so hot. Amazon did not do
so hot.

Speaker 2 (24:50):
But a lot of these you know, tech companies, especially
the ones that are kind of delving into this AI space,
have been doing fairly well still.

Speaker 1 (25:00):
So it's a it's a change. It's a change of
the world technology. I'll interrupt you one second. I saw
a thing the other day presentation where a robot was
basically dancing, walking, serving, doing jumping jacks. Did a flip. Yeah,
I mean it's kind of scary. I mean it's like

(25:21):
it's kind of scary. Yeah, yeah, it is me. It's
definitely not you know, mister and missus electric uh electric
quarter coming in. You know, it's just this we're going
to this other side of technology that really kind of
scares the hell out of me a little bit. I mean,
I you know, I'm not a scary cat. I'm not
gonna hide underneath my bed. But when you see and

(25:44):
then there was a guy that was working on the robot,
and the robot got mad at him and start beating
the hell out of the guy. Do you see that?

Speaker 3 (25:51):
No?

Speaker 1 (25:52):
I did not.

Speaker 2 (25:52):
What are you watching? No, I swear to god it
was on the internet. I'll bring it up and I'll
a robot was beaten someone beating the hell. Oh all right, yeah,
he had him on a chain head.

Speaker 1 (26:05):
I swear to God, I don't know. I swear to God,
I don't know. I'm not teasing you when I say that,
But go ahead, all right, Yeah, we'll look that up later.

Speaker 2 (26:13):
I have to figure out what that's all about. Yeah,
but not only yet, not only the technology space, but
also the healthcare space is another huge change that's going on.
Like companies like Johnson and Johnson, Pfizer, Eli, Lilly, am Jen,
all the regeneron. Yeah, the uh, the changes that they're

(26:38):
making to the healthcare space as far as trying to
lower their prices every year.

Speaker 1 (26:47):
Fidelity just came out again with their new number as
far as out of pocket expenses for a healthy sixty
five year old couple, and it's one hundred and seventy
two dollars one hundred and seventy two thousand dollars per individual,
one hundred and seventy two, five hundred dollars in the

(27:09):
healthcare throughout the retirement more than four percent from last year.
I see it. I see it every month when I
pay my premiums. Yeah, yeah, no, Well, No, I don't
see it, But.

Speaker 2 (27:26):
I'm more talking about how the stocks these companies are
going to be affected. Their stock prices are down astronomically
with RFK, like revamping the healthcare industry because the companies
themselves here are charging for drugs that people are utilizing.
There's no there's been no parameters or limitations on how

(27:48):
much they can charge you for these drugs. So that's
probably why health insurance and all this other stuff is
through the roof is because these companies themselves don't have
any limitation on what they can charge you or gozempic
or whatever.

Speaker 1 (28:01):
Your grandfather at the end of his life went in
for a stent less than twenty four hours it all,
but he meant a stent. He went in, they did
the surgery, and he came out the next day. The
next morning they released him, like at ten eleven o'clock.
Your mother brought him home. It was like fifty five
thousand dollars, right, just for that one procedure to put

(28:24):
a stent in, Right, I saw something, and that's like
four or five years ago.

Speaker 2 (28:29):
Yeah, I've been trying to find some statistic I haven't
really found yet as far as the difference between these
the pharmaceutical companies or these big healthcare companies and what
they're charging here versus overseas in Europe. And that's basically
his big gripe is that he wants to replicate what
healthcare costs look like in Europe over here because these

(28:50):
companies have restrictions and limitations as far as how much
they can charge per drug over there, but here it's
like free for all, you know, charge whatever you want. Yeah,
so I think it's like eighty five percent of their
revenue something around there. It's not, but eighty five percent
of the revenue has made through the United States. And
these are global and they sell globally. So it's it's

(29:12):
something that's you're seeing the hit in the healthcare market,
at least over the last six months, I mean since
since he really came out with this initiative.

Speaker 1 (29:22):
Well, it's not only the cost of what it costs
for you know, I mean, everybody never wants to have
these conversations. I'm I had a beautiful couple that came
in this week, a radio listener. I think he's I
think they're both eighty and eighty one. They're probably listening.
They say they listen every week. So I'm going to
talk a little bit about them in general terms. But
you know, the thing is is that what's your biggest

(29:45):
expense and what's the greatest risk for you as you age?
Or of course it's a health event. I mean, if
you've got millions of dollars, it's a non event. But
if you've got you know, five, six, seven, eight, nine
hundred thousand dollars of assets and you're looking at a
long term care facility here in upstate New York, it's
going to cost you baseline fifteen thousand, could go up

(30:07):
as eighteen nineteen thousand per month. And you know, the
question becomes, how do you protect yourself against that? Because
you can wipe out your life savings in a very
short period of time. So it's just not drugs, and
it's just it's co payments, it's assisted living, it's out
of pocket expenses, it's your deductible every time you go

(30:28):
for you know the doctor, you know, depending on your plan.
I mean, this gentleman had a big smile on his
face because he was a teacher and he's got health
care for life, right. I think he said he pays
ten dollars a month for his healthcare. Ten, I'm paying
nineteen hundred dollars a month right now for healthcare.

Speaker 2 (30:47):
Yeah, well that's yeah, because you're in the you're in
the crazy.

Speaker 1 (30:52):
I'm in the crazy, right, You're in the pin of
people whom I'm an old guy with young kids.

Speaker 2 (30:57):
Right, you're getting my daughter the short end of the stick.
But the uh but yeah, that's that's solely because it
all whittles down to how much how much these insurance
companies or healthcare companies are willing are paying for. When
you put your copay down, you're paying for what like
ten to fifteen dollars, but they're picking up the rest

(31:18):
of that money on that drug. So when the drug
prices are so high and all this stuff is not regulated,
then yeah, your healthcare costs are going to be through
the roof nineteen hundred dollars a month.

Speaker 1 (31:28):
Well, you know, he's been shooting the gun over the
bile for quite some time in regard to healthcare and
also pharmaceuticals. I mean, he came out this week and
made a statement that you know, they had to come
to the table and they've got to make some adjustments.
So what that means, I don't know, they'll come to
a compromise. Like I said, it's got to be fair.
The one of the things that the pharmaceutical firms keep

(31:50):
on saying is that that revenue is necessary for all
of the research and development r and D that they
do in order to bring new drugs to market. And
I don't disagree with that. You know, it's not an
an expensive preposition to go through one of those trials. So,
you know, healthcare, there's there's a lot of things that
are going to change around next three to five years,

(32:12):
especially with the Trump administration. There was no doubt. I mean,
you're a health all right. Listeners don't know this, but
you're a health not You've been talking about dies and
chemicals and foods for the last five years. Yeah, And
you know, Mom and Dad got aware of it much
probably later than you, And I bet you said basically,
look look at the chemicals that's on that box of

(32:34):
food that you eat. Well, yeah, I honest, And I
can't even you know, I can't even pronounce the words right, yeah,
And well no, I don't think anyone really looked at it.
And I stumbled across the video just on my phone
on social media. Some guy that I ran it and
just came up on my feed from like five years ago. Yeah,
the and he was talking about all this stuff.

Speaker 2 (32:54):
He's like, no one reads the box and understands what
this does to your body. So I think all these
dyes and chemicals and all this other stuff is the
reason why year over year they're like, oh, cancer, it
just went up, you know, from fifty percent of people
get it to fifty five and now it's like sixty.
So it's it's unbelievable. But the healthcare rant is, well,

(33:19):
they're big believers, the barons. And I've been saying this
for years too. You know, I made Nico do.

Speaker 1 (33:24):
It'll probably sit down and have a chat with you
because you're going to get off our plan because you're
age twenty six now. Bottom line gets down to, is
that high deductible plan with the HSA is the way
to go. I mean, yeah, if you're thirty five years
old and you're doing just the individual you're putting forty
three hundred dollars in their year, you're getting six percent

(33:46):
net return seven percent, say seven percent, you're going to
walk away with about six hundred thousand dollars of healthcare
money that's going to be in the pot that you
can use for your retirement years in order to you know,
offset some of your medical expenses. It's a no brainer.
HSA accounts are a no brainer. So if you are
working and you're sitting down and going through your healthcare

(34:10):
options and they offer a high deductible plan with an HSA,
and you're young and you're healthy, I would say definitely
zero in on that. It's probably one of the I
think it's one of the greatest, besides the rawthiray. The
health Savings account gives you a lot of benefit, tax
free growth, tax free distributions for what qualified medical expenses.

(34:36):
And the other thing is they don't lose it. It
stays with you and you can transfer it to your spouse.
So if you're both doing it, you're both successful. You
know you're gonna have a whole hell of a lot
of money sitting in a pot tax free, you know,
later in life in order to facilitate what you're looking for.
So there's tools out there and there's options. You just

(34:57):
have to motivate or sit down with your team and
to find out if you're maximizing all the opportunities that
are presenting yourself. So I know that the employer. Sometimes
you know, we'll market it, or they'll sit down with you,
they'll send you some data. A lot of times people
are busy, you're wrapped up with your lives, all the
things that you do, and it's hard for you to

(35:18):
basically so you know, find a financial team that can
help you. We have a healthcare specialist because it's too
complicated for me and the rest of us. We don't
want to get involved in it. So we have this
woman that is now our quote unquote go to person
for healthcare and she's been in the business as long
as I have been. So we're going to be right

(35:39):
back after this quick message. This is a retirement planning show.
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(35:59):
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Do you know that eighty six percent of the population
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(36:20):
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(36:44):
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(37:28):
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Speaker 4 (37:54):
All right, we are back.

Speaker 1 (38:04):
I'm Dave Kopek. This is the Retirement Planning Show. We
have five locations here in New York. You have any
desire to sit down with us have a chat about
your own personal situation. We do offer a complementary consultation
at either Albany, Syracuse, Oneana, Multi Slash, Saratoga, and of

(38:34):
course Glenn's Falls. It's just a chat. We sit down
with you, see if we can help you. We go back,
have a meeting, go over the file, see if we
can help you, and then we let you think about
it for a while. Then we give you a call

(38:54):
and see if you want to move forward. So you know,
I met some great people this week that listen to
the radio show. I'm always honored that people have listened
as long as they have, and you know, hopefully you
find it informative and educational. Our job is to basically

(39:17):
tell you what the pitfalls are out there, the bumps
in the road that are going to hurt you in
your retirement years. You know. The asset management side, Folks,
is just one piece of the puzzle, the small piece,
you know, for a lot of you, it's important piece.
But the thing is is that there's so many other
things that you need to discuss and work through, especially

(39:37):
on the estate planning side. So again, if anything that
we're discussing today is peaking your interests and you want
to come in and have a chat with us, you
can just give us a call at our office at
eight eight eight five eight zero one nine one nine.
Also in the Florida lot, I use the Regis Corporation

(40:00):
Florida r E. G US. They have office buildings all
over Florida, So we have a lot of clients. Close
to one hundred households now in Florida. That's why I
will spend four months in Florida January February March in
April of this year. With that I'll also spend a
lot of time going face to face to actually visit

(40:22):
our clients and see them face to face. So if
you're listening outside the five one to eight area code,
what I always say, plane, boat, train, whatever it is, car,
if we can get to you, we'll sit down with
you and have a chat as long as we can.
Fitch in the schedule. So and again today, as they said,
we're going to talk a little bit about the dynamics

(40:43):
of what's happening out there. The markets got kicked in
the teeth a little bit this week, but you know,
it's point in time. It's you know, the market needed
a little bit of a sell off here, it was
getting a little frothy. Bottom line gets down to is that.
I think we're in a good spot. My belly tells

(41:03):
us that we've got some good days ahead here in
the financial markets, and I think, you know, as I said,
the FED has got to get on the boat. Not
real happy myself personally, I think the FED should have
been much more aggressive carting cutting rates, and I think

(41:24):
I think there's going to be some conversation down there
over the next two to three to four days. I'm
not too sure if Powell's going to make it. My
gut tells me, is that a lot of investment banking
firms when you start here in el Arion, who's known
internationally for his expertise, when he basically says he's got
to go, that's not good. That's not good. So I

(41:46):
also want to say, just so our listeners know. You know,
I had a death in my family this week. I
had Aunt Grace Gracie Kwasneski. She lived to be ninety
nine years old. She was in her hundredth year, and
we had the opportunity to celebrate her life with her

(42:07):
family and some of her friends. Last one to go,
she's the last one to go of that generation. Almost
was very disappointed that she didn't get to age one hundred.
Her daughter was telling me that at the funeral on Wednesday.
But that's a pretty good life. Ninety nine years. You

(42:30):
think you can deal with me for ninety nine years?
Ninety nine years? I think, yeah, I think so some
Yeah it means you got I got a long way
to go. Yeah, you're you're not going to get the
doray me for a long time. You're middle aged. In

(42:50):
some societies, you are middle aged. I'm middle aged. I'm
middle aged except for the strained achilles. But once I
got my achilles back, I'll tell you what. I'm going
going to the gym every day. I'm working out every
single day, Gonna run, jump, fly, swim. There you go,
and the jag gets to the train to it all.

(43:13):
So so again we're live. You have any questions or comments,
it's one eight hundred talk to b g Y. It's
one eight hundred eight two five fifty nine. And I
know that you wanted to talk a little bit more
about the markets.

Speaker 2 (43:26):
Yeah, I just wanted to give like, what what do
you do you know with this information? You know, rates
have been kind of staying the same for a while,
and I guess what does that mean? You know, there's
a couple of different ways you can look at it.
I mean, for people who are borrowing money, you can
you know, you lock in your rates. Now you're considering,

(43:46):
you know, doing like a mortgage or a long term loan,
because the stability itself, you know, may not last forever.
You know, coming down the line, we don't know, you know,
what if owl stays in there?

Speaker 1 (44:00):
What the case is?

Speaker 2 (44:01):
They did not take out the assumption that they could
raise rates by the end of the year, which is
very out there. In my opinion, I don't think that's
going to happen, but they left it on the table.
For people who are investing, you know, enjoy these higher yields,
you know, while you still got them, because inevitably they're

(44:24):
going to go down.

Speaker 1 (44:25):
So these.

Speaker 2 (44:27):
Corporate bond, mutual funds or money market positions or T bills,
you know, you can get into some higher yielding rates
right now while while we're still up there. So it's
going to remain you know, the next meetings not until
September eighteenth. So for people that wanted to lock in
you know, a T bill that's still around you know,
four point one or four point two percent, whatever it

(44:49):
may be. I think they're around four to four point
one currently, but you can lock those in, you know,
with the assumption that now, yeah, I haven't looked this
since the meeting, but the last time I checked it
was around four to four point one. So and then

(45:10):
for people who are investing, you know, just stay diversified
within the market itself, you know. The having rate stability,
you know, it can affect both equities and the bonds.

Speaker 1 (45:23):
So and that's short term bonds.

Speaker 2 (45:26):
But it's there's just a lot going on as far
as you know, what's what's happening with the portfolio and
the market itself. You know, you're seeing a lot of
this scare of inflation spiking again. I think it's come
down to a point where it's pretty low, you know.
I think back in June, we were anticipating that if
they didn't cut in June, they were definitely gonna cut

(45:49):
at the end of July, and I think we were
pretty shocked to hear that they were staying the same.

Speaker 1 (45:54):
Again, you take ten economists and you put ten economists
in a room, They're gonna get ten different answers and
then maybe one will be right. Over the next twelve
to eighteen months. It's like, you know, trying to predict
the future, which nobody cans right. So bottom line gets
down to is that, you know, ultimately, I mean, I

(46:15):
think the direction is down as far as interest rates,
I mean, we've had a big move. The twelve months
is at three eighty four, the two year treasury's at
two sixty eight, the five years at two or at
three seventy six, the ten you still get four to
two four point twenty two. This is where it closed
at the end of the on Friday. But you know,
bottom line, the Treasury's soared most since twenty twenty three

(46:40):
because traders are basically saying is that it's coming. The
rate cut is coming, and if it doesn't come, he's
most likely going to be bounced down the road some
way or some they're going to facilitate. You can't have
all of the investment banking firms in Wall Street basically
saying this guy's got to go. And like I said this.

Speaker 2 (47:02):
Week, well they clearly don't get along. I mean him
and Trump have been button heads for quite some time now.

Speaker 1 (47:08):
Yeah, but it's it's not even personalities now, it's it's
really what you're getting into is that you're getting into
the fundamentals this guy does this guy. You know, I'm
not gonna sit here, I'm not gonna put drome pile down,
and I'm not going to talk about but the consensus
on Wall Street is that he's made a lot of mistakes,
and the consensuses is that it's time for him to go.

Speaker 2 (47:30):
Yeah, that's I mean a lot of people are calling
that's the bottom line. I think a lot of people
are upset at his decision. I think his mindset on
the tariffs. The fifteen percent tariff deal that he just made,
the assumption was thirty percent originally, so it got knocked
down by about half. I think the thirty percent was

(47:50):
more of like a trade negotiation, just to scare tactic
them into making a deal.

Speaker 1 (47:55):
But if you listen to Cudlow, if you listen to Cudlow,
which I listened to him every day, the data doesn't
support this fear of inflation by the tariffs. Quite the opposite,
quite the opposite. I'm i gonna get into the fundamentals
and all the technical stuff.

Speaker 2 (48:14):
That's what I was just going to say is that
we had a meeting with a guy who came into
the office who said, I believe he was like a
fund manager for one of the companies that we do
business with. But he said, you know this is this
is you know, shocking to me because you know economy
or economics one oh one says that tariffs are anti inflationary.

(48:36):
They're not inflationary, they're anti inflationary. And I was like really,
So he got into it a little bit and gave
his perspective on why, you know, the the tariffs should
be anti inflationary. I think in a short term, you
know it could because alternative you're gonna have to look
at some higher paying.

Speaker 1 (48:54):
Options in the store.

Speaker 2 (48:55):
But you know, efficiency wise, the United States is going
to have to you know, lower cost. Maybe production is
going to have to increase as far as efficiency productions.

Speaker 1 (49:07):
Production is going to soar. Yeah, productivity. AI will blow
the doors off productivity. It's already you're already starting to
see it. Yeah.

Speaker 2 (49:17):
Well, that same guy said he utilizes AI now for
his meeting notes. Look, and he said because he tracks
everything as far as his time. And he's like, I
freed up thirty five percent more time just by utilizing
AI to read through my notes.

Speaker 1 (49:33):
And you're gonna see. And this is just when you
talk about this, this is just the emtasy. This is
the not even the tip. I know, it's just it's
just like it's just coming out of the water. It's spooky,
but it's well, it's uh, it's spooky, but it's here,
you know, the the uh, the horses out of the barn.
I you know you can't get it back in, so

(49:54):
the genies out of the bottle. I shouldn't say the
horse is out of the barn, So we're gonna have
to break here for the national local news. When we
come back, we're going to talk a little bit more
about some of the opportunities that we see right now,
not only as far as putting your plan together, but
also I'm a big believer in bonds right now, and

(50:17):
I have been Get the coupon. If you're building out
a ladder bond portfolio, go get the coupon, because I
don't think it's going to be there too much longer.
We'll be right back.

Speaker 5 (50:42):
The opinions, viewpoints, and promises made during the following program
are not those of WGY it's staff management or parent company. iHeartMedia.

Speaker 1 (51:01):
All Right, we are back. I'm Dave Kopek. This is
Retirement Planning Show. We're here on the weekends, so hopefully
educate you on the I guess, the bumps in the road,
the things that you need to start thinking about whether
you're pre or post retirement. Sometimes things get as difficult
later in life as they do when you start thinking

(51:22):
about going into retirement. A lot of misinformation out there,
a lot of people that have I think, their own
agenda rather than basically taking care of the client and
putting them in a spot that's probably better off for them.
I know one thing for sure, not only the investment piece,

(51:42):
but also the estate planning the legacy police. Chris McCarthy
just joined us. Hi, Chris, well, Hello, good morning, And
I don't know if we're gonna do. Are we going
to sing it or not? We're gonna sing happy birthday tone?

Speaker 3 (51:56):
I don't know.

Speaker 1 (51:57):
I don't know if they want to Today's even with
my hearing it will not happen. Chris, is I think
thirty nine? Thirty nine? That's right, thirty nine, twenty fifty.
You've been You've been in the business forty years, but
you're only thirty nine. Yep.

Speaker 3 (52:13):
I was fifteen when I got my business fourteen. Excuse me,
fo time.

Speaker 1 (52:20):
I don't know if I want you managing money anymore.
You can't add brother, Hey, leave my leave my numbers alone.
I do just fine. You got any anything special that
you're doing today?

Speaker 3 (52:31):
Family?

Speaker 1 (52:31):
Family? Also, congratulations, Chris's daughter is getting married. Yes, she's engaged. Yes,
thank you. Congratulations. Yeah.

Speaker 3 (52:39):
July fourth, the big the big question was answered affirmative.

Speaker 1 (52:45):
She's an attorney in the DA's office in Manhattan. She
is she's got a great job, you like the future
son in law?

Speaker 3 (52:53):
Awesome? Great he really really is?

Speaker 1 (52:56):
Is he an attorney?

Speaker 3 (52:57):
Also in my in my opinion, he's every dam.

Speaker 1 (53:01):
Is an attorney. No, he's a firefighter. Oh that's great.
Good in the city Staten Island.

Speaker 3 (53:09):
Just the class that you know, it's just very nicer
than me, very blessed. Who could be nice? Didn't you?
Who you love? Keep giving me those.

Speaker 1 (53:25):
No, that that's great. You know, life is short and
as we're all quite well aware, when you get we're
very blessed. And when you got good times, you better
enjoy them, right, you better. So the bottom line gets
down to is that you've got a new member of
your family. Hopefully there'll be pet poos's soon. I would
imagine that's probably in the future hopefully.

Speaker 3 (53:45):
Oh yeah, well, well you never know, you know, it's
whatever they want, whatever they want.

Speaker 1 (53:50):
And just started to think, where our population is decreasing
and increasing, we're not basically reproducing enough as far as
to keep everything cat I've heard that where where we
need the influx of immigrants.

Speaker 2 (54:02):
They say that like if you go blow like one
and a half children per couple or something like that,
like the you won't there's no job replacement, so like
you won't be able to replace the next generation and
continue to like grow. And we're pretty damn close. Like
I think we're at like one point eight. Like people
just didn't aren't having kids anymore.

Speaker 1 (54:24):
Right, I can see why I'm looking at one of
the reasons right now, Yeah, right right, blessed pal. You
didn't know I was easy. You didn't know. You didn't
know him as a teenager, and I don't have to.

Speaker 3 (54:40):
I know him now, and that's all I need.

Speaker 1 (54:42):
I gotta chase him with the fishing pole one time
down in the basement. Oh yeah, among other things. Hey,
we got to.

Speaker 3 (54:49):
Keep you in shape, man, got to keep you.

Speaker 1 (54:54):
I can still see him running around the house inside
and outside.

Speaker 3 (55:00):
I gotta tell you, my mother what a class act.
She was so much fun. And there was one day
I know I did something. She came up and I
grabbed the two wrists and she said, Chris, you better
let me go.

Speaker 1 (55:11):
I go.

Speaker 3 (55:11):
No, I can't do that much. She's good. Bl I
didn't get I go because you're gonna hit me. Because
you you bet your butt you're gonna hit me. I'm
gonna hit you. I go and there you go. So
all of a sudden we started smiling and let her go.
And I don't think I've a ran fast in my life.
I could have won the Olympic that year and a
one hundred meter.

Speaker 1 (55:29):
Dash my father's had. My father only had to say
it once. He didn't say it twice. If he if
he said it twice, all hell was gonna show time once.
All all I could hear is that, you know what
that is?

Speaker 3 (55:47):
The belt?

Speaker 1 (55:47):
The belt? Oh boy, I can hear it. And I
only wanted to hear it like once or twice. Yep.

Speaker 3 (55:55):
If he said don't do it, don't do it, I
got to tell you. I'll tell you this quick. I
know we've got business to talk about, but you just
reminded me. You know, I'm the oldest and only boy.
I got three beautiful younger sisters, and I'm about ten
years old. And I did something else, So Chris, my

(56:17):
mother said, Chris, go up your room. I'm right there.
And you know what that meant. It was the tap
of a wooden spoon. So just as I assumed the position,
and my mom's up there, and I looked back at
her and I said, you know, ma, and I getting
kind of old for this, and she said it was

(56:38):
the most difficult time she ever tried to keep a
straight faith in her life because she wanted to just
crack up laughing. I don't think I ever got it
again after that. Oh, but it was fun, great time.

Speaker 1 (56:51):
Well, you know, I had a funeral for a family
member this week on Wednesday, and she passed away at
age nine. She was upset because she didn't make age
one hundred. She was cognitive right to the very end,
and she lived a great life. And you know, you know,

(57:11):
it's sad to see that generation leaving us, the greatest generation. Yep,
you know, she's the last one on the tree. And
it's sad. It's just sad because you know, I know
that Julie. We have great neighbors next to us, frank
and Butchy Pingelski. And my wife goes up and it's

(57:33):
an old old farm that they have next to ours.
And Julie goes up and plays, does not play. She
does puzzles puzzles, but she I think is ninety seven
or ninety eight. But her husband lived at eight past
one hundred. Frankie. And when I first moved there, like
thirty years ago, The guy was in his seventies and

(57:56):
I never went on. They did a dug the hole
at my property and water was coming into it, and
they were coming for the footings and stuff. And I
went over to him. I said, listen, can I borrow
your generator, you know, because I'm gonna hook it up
to the pump in order. This guy was like about
five nine five ten, right, and he was probably one

(58:19):
hundred and seventy five pounds wet. And I'm walking across
the field. He's walking across the field with this generator
like he's walking around with like a toothpick. Like my
head's blowing up because my arm was killing me, my
legs are killing me. Come on, he say, come on,
because that's how it takes. Come on, come on, Dave,
you can do this. I would be damned if I

(58:42):
was going to say, no, I can't do it. But
I'll tell you what. He worked until the last day
of his life. I mean he worked that last day.
But of course he worked until he was, you know,
over one hundred, probably about ninety nine. He didn't slow down.
He was ninety five, He's painting his roof. Were like,
what the hell's on the roof over there. It's Franky

(59:03):
painting the roof. That's all they knew. Yeah, to get
up through hard you know, I come. You know, hard work,
hard work. Matter of factor. Is a gentleman that we met,
Chris and I I'm just thinking about him. He's uh,
he's down in Florida. He's got a horse farm down there,
and he just keeps on going and going and going.
He's working. And he told me a story which I

(59:23):
thought was kind of cute because I kind of chuckled
about it the other day thinking about it. He works
for this woman and needs some help. You know, this
guy's got all the money that he ever needs. He's
got a beautiful farm, you know, horses and all that stuff.
But she pays him ten dollars an hour. Oh yeah,
ten dollars an hour. But he feels like it gives
her you know you know why he said it.

Speaker 2 (59:43):
He goes, Yeah, he goes, I have her pay me
ten bucks an hour so she doesn't feel guilty telling
me what to do.

Speaker 1 (59:50):
Isn't that great?

Speaker 3 (59:50):
I love it too. I love it.

Speaker 1 (59:53):
That's what you really meet some wonderful people in this business.
And the thing is is that you know, he keeps himself.
Is he helps woman out that needs some help and assistance.
Beautiful area. It's a beautiful area of Florida. But bottom
line gets down to is that, Oh my god, we
got to take a break already. We got to stop
bs and I'm going to get down some nuts and
bolts there well entertaining we are, that's it. Can't get

(01:00:17):
no respect. Oh I tri it all right, We'll be back.
Retirement is in a Sunday thing. It's a now thing.
Whether you're just starting out or nearing the finish line.
The best time to build your retirement plan is today.
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Speaker 4 (01:02:21):
Portions of the following program or pre recorded.

Speaker 1 (01:02:32):
All right, we are back. It's going to be a
beautiful day. You just said you're going to the Whitney.
Hell no, no, you know, are you a track guy? No,
I'm not easy. I used to be me too, you know,
I used to Ever since they started smoking dope up there.

Speaker 3 (01:02:47):
Well, yeah, you told me about that.

Speaker 1 (01:02:50):
I said, that's it, no more, I'm done, See you later, alligator. Now,
I don't care what you do with your life, but
I shouldn't be subject to that as a paying customer
for NIRA. And theyasically said, there's nothing we can do
about that. What do you mean, there's nothing. You can't
smoke a certain area, that's right, Give me that, Give
me that crap.

Speaker 3 (01:03:08):
I couldn't agree with you more if they have to
alligate space, allocate space.

Speaker 1 (01:03:12):
Told husband and wife are there with three beautiful kids.
There were like ten, seven and five right dressed to
the nines, you know, all nice for the track. And
these idiots are there drinking their you know what off
and smoking weed and acting like idiots. They got up
and left. I felt bad for them. I really felt bad.
So I go to the guy. I go to the
guy at NIRA, and I said, they told us just

(01:03:33):
you know, don't do nothing about it. Oh really, really,
we're spending thousands of dollars or hundreds of dollars to
come into this place and you can't do anything about it.

Speaker 3 (01:03:43):
Well, they can't, and you know they can't. Yeah, it's
crap because whether it's drinking, smoking, whatever it is. Yeah,
but if you reach above a certain point and you're
making it unpleasant.

Speaker 1 (01:03:54):
They were people, and they were then they should have
sp and the thing that's smoke and what I said.
And the thing is, Chris, these weren't young kids. These
guys were in their forties. Oh, I believe it. I
believe it.

Speaker 2 (01:04:07):
All right, story time is you you guys, got any
other stories you want to get off your chest?

Speaker 3 (01:04:11):
Man?

Speaker 1 (01:04:12):
Any other gripes or then that is against any other
You know, your mother wasn't very nice.

Speaker 3 (01:04:19):
To know that. That.

Speaker 1 (01:04:25):
Oh stop Jesus saying, oh my god, here we go
looking for another raise. I think you called. Yeah, I
hear it.

Speaker 3 (01:04:35):
Got you know, I'm so glad we don't have fun. Yeah,
I'm so glad.

Speaker 1 (01:04:43):
You said you said something when you sat down. You
were in the office when the portfolio manager was talking
to us about the tariffs. What was your perception of
what he was saying.

Speaker 3 (01:04:52):
Well, the first thing, it was quite an education more
than anything. I mean, the guy, the way he explain it, Chris,
I was I was in pat.

Speaker 2 (01:05:02):
Yeah, yeah, he was a smart guy. He runs the
small I figured out what he did. He runs like
a small cap phone, yep, So that's what his job was.
So he's he travels the country looking at different like
small cap companies, who are the companies that are most
affected by rate changes? And he was telling us basically

(01:05:24):
just you know, everyone keeps saying that an influx of
terriffs is gonna hike inflation.

Speaker 1 (01:05:30):
He's like, it's the opposite.

Speaker 2 (01:05:32):
He's like, it's it's anti inflationary, Like this is this
is ridiculous. How they're like running with this narrative that
inflation is going to spike again.

Speaker 3 (01:05:41):
Well, I think it also goes to the level of intelligence.
Put a lot of people in the media right right.
You know, it's unfortunate because too many avenues have become
political when it should be.

Speaker 1 (01:05:56):
I know you're flabbergast. I know, man, you're telling me that,
you're telling me that the media has a bias, Right,
is that what you're saying.

Speaker 3 (01:06:05):
About I'm afraid so I'm this source of information.

Speaker 1 (01:06:10):
Yeah, whenever. What I'd like to know is when did
it ever change? When when did it change? That? It
was basically their political hit squads, whether wright or left.
I don't care what it is because I don't really
care what your affiliation is because if you're a good person,
I'm going to treat you like a good person. Whether
you're a Democrat, Republican, independent, communist, I don't care what

(01:06:30):
it is. But bottom line gets down to is that
when when did this all? I think when Cable started,
that's my all. I feel like this is way more recent.
I feel like it was like twenty sixteen that I
feel like his first run around against Hillary, it was
just like everything gotten nasty. Yeah, and it was like

(01:06:51):
now it's just way out of whack. So it's just
way I agree. I don't understand what's going on with
this girl with the jeans. There's a girl on jeans
and they're putting her down that because she's attractive and white.
And she's got these genes on. Have you seen that
the advertisement you know, woke is going after because I
don't know now, the New York Times basically said that,

(01:07:13):
you know, you know, oh she's she's too white.

Speaker 2 (01:07:17):
Yeah, no, American Eagle. It's city swinging the new ad
that they I saw. What did she do wrong? I
don't know who cares. It's just.

Speaker 1 (01:07:26):
Okay, so here, so here, here's the question. So the
tariff situation, Okay, what's your position.

Speaker 3 (01:07:34):
I don't think we can begin to fathom how much
we don't know as a country and what's going on
out there. And I think we've been taking advantage of
for so long. And I really believe the current administration
is trying to set the record straight. I want everybody

(01:07:55):
in the game. That's everybody pay their fair share, you know, right,
Let's do it and do it right instead of and
from day one, the president is known for the art
of the deal. I don't care if you like him,
I don't care if you hate them. I think it's
it's negotiations. Let's see what we can work out.

Speaker 2 (01:08:17):
I'm glad you brought that up because I have some
information sitting in front of me which I was just
going to dive into about that deal that he actually made,
the fifteen percent terriff deal that he just went through with,
and how I mean, I don't care what party you're in,
but he deserves some credit as far as how he

(01:08:39):
constructed this deal and.

Speaker 1 (01:08:42):
Goes it with it was with you know the EU.
Oh yeah, yep.

Speaker 2 (01:08:46):
Right, So there's not only is it like fifteen percent
tariffs on all of their goods coming in as far
as you know, electronics, pharmaceuticals, semiconductors, automobiles, luxury items like
all that stuff is going to be you know, fifteen
percent tariff going to US as far as you know
the United States revenue. Now, he also made the EU

(01:09:08):
commit to seven hundred and fifty billion dollars in additional
purchases and energy exports energy including LNG and nuclear fuel,
approximately two hundred and fifty billion dollars a year, six
hundred billion dollars in new EU investments into the United States,
so above the existing levels of which they're already doing.

(01:09:30):
And then there's also mention of them buying like other
major military equipment purchases, you know, with no specific dollar
figure on it. So all together they're estimating like the
deal at one point three to five trillion dollars in
trade and investment over the next three years. It's unbelievable,
I know. And we never hear about this, no, no,

(01:09:51):
and that's what crazy.

Speaker 3 (01:09:52):
Right, And all anybody ever knew about the previous administration
was how much money we were given away overseas, whether
it was Ukraine. We were never hearing how we were
getting any money in we got.

Speaker 1 (01:10:07):
We got a pretty good deal with Ukraine right now too,
this rare earth yep. You know. The thing is is
that I you know, whether you like him, you hate him, whatever,
the bottom line gets down to is that today you know,
the old Roundal Reagan. You know, are you better off
today than you were? And I would say, in my

(01:10:31):
in my opinion, the consensus when I'm talking to people,
some people hate him so bad that no matter what
he did, he could basically come back as Jesus and
they would basically say, you know, sorry.

Speaker 3 (01:10:46):
A lot of people were brainwashed.

Speaker 1 (01:10:48):
I don't know.

Speaker 3 (01:10:49):
They would talk to Hi him.

Speaker 1 (01:10:51):
Well, when he got shot, we're at a restaurant in
Lake George. You know the story you told, tell it again?
Who at a restaurant Lake George. I couldn't believe it.
My son told Trump just got shot up sitting next
to a woman or daughter and they're sitting right next
to us. You know, it's close proximity. Jesus is I
can't believe it. They just shot Trump. And the woman

(01:11:11):
looked at me and she goes, it's about time.

Speaker 3 (01:11:13):
Yeah.

Speaker 1 (01:11:15):
I almost I almost fell off my chair. She just say,
is he okay? Is he dead? He's you know, but
it's about time.

Speaker 3 (01:11:20):
There are very unwell people out there. Move because even
my differences with the previous administration, I would never wish
bad on anyone never happened.

Speaker 1 (01:11:30):
You've never heard me say anything. As far as you know.

Speaker 3 (01:11:33):
I think that. And unfortunately we deal with the percentage
of the population.

Speaker 1 (01:11:39):
They're bad at Biden all right now. I mean they're there.
There's like they had him on the Ghost of Christmas
Past when on this when he went up on this
to speak the other night in Chicago, they they looked
like the guy goes to Christmas.

Speaker 2 (01:11:54):
I mean, yeah, they need to let that guy go,
like relax, he's done enough.

Speaker 1 (01:11:59):
I don't know if he can. I think he needs
to make some doory me. I don't know. I don't think.
You know, he's flying commercial. He's not flying private jets.
Come on, I swear to god, it was just on
the news. He's flying American Airlines commercial. But I I
you know, Chris, I couldn't agree with you more. I
think this guy needs to divide into the sunset. Right.

(01:12:19):
Let him go enjoy the rest of his life. That's
right in peace in pe. I don't keep him busy.

Speaker 3 (01:12:28):
Oh but it's just some of this stuff that's going
to get uncovered more and more. And anyway, we.

Speaker 1 (01:12:36):
Got so so the bottom line is is that this
turmoil at the Fed is going to continue as we
go through the week. Right, and uh, you know, bonds rallied,
the dollar sold off a little bit, so you know
you're going to see a little bit. I think of
institutional instability. What's going to happen here? I don't know

(01:12:57):
what's going to happen, but I think for the good
at the country, Powell should walk, and he should he
should walk, He should resigne and just say, you know what,
this hasn't worked out. They don't have faith in me.
Investment banking firms now, major major talent guys are held
on high esteem as far as their ability and economics

(01:13:19):
are basically saying is that you know, it's time for
him to go.

Speaker 3 (01:13:22):
It's time for him to go. Ye, And I heard
and you guys probably touched on it. The first hovel was,
I guess one of the people from the Federal Reserve
is stepping down on August sixth, So that's going to
be a new point.

Speaker 1 (01:13:35):
The sense with the f o MC is rare. Okay,
right right? You had two That's right, you had two
and then you have one woman leave, So this is
not good.

Speaker 3 (01:13:43):
No, And I think that's a sign in itself.

Speaker 2 (01:13:47):
Yeah, change, Yeah, we need I think. I mean, historically
to September is really not a great month for the market.
So going into that September meeting, which is on like
the eighteenth, you know, August I think historically is like
a pretty flat month. So with the bad news coming in,
I don't know, we could see like potentially, I think,

(01:14:09):
you know, with all time highs, all time hyes, all
time highs every other day, it's probably gonna position itself
into like a sell off year. Like even if it's
like a minor sell off, you could see like a
five percent pullback in the SMP or something like that.

Speaker 1 (01:14:23):
There's there's seven trillion dollars on the sidelines. Yeah, there
is a lot of cash on the sideline. There's seven trillion.
But staying there, we're not we're not nosebleed. Okay, you're
dials up two and a half s and p is
up six nasdacs up about seven right for the year. Right,
So it's not like we're up twenty five thirty percent
and earning or eighty over eighty percent of the corporations

(01:14:45):
have beat earnings expectations.

Speaker 3 (01:14:48):
So a lot of valuables are still solid.

Speaker 1 (01:14:52):
Again. I think that it's gonna broad now, that's what's
gonna happen. Mm hm mag seven is gonna end up
being fifty. Right, They're gonna find opportunities in other stocks.
We'll be right back. We are back. I'm Dave Kopek,

(01:15:32):
the president of the Retirement Planning Group. I'm here with
Christopher McCarthy, my son, Christopher William Nico is uh taking
a chill pill. He was coming in, but.

Speaker 3 (01:15:46):
Good for him. He deserved this Saturday.

Speaker 1 (01:15:49):
He does.

Speaker 3 (01:15:50):
He's a good lad, lad lad.

Speaker 1 (01:15:54):
Lovely they say lovely in Ireland. A lot of lovely really.
Oh yeah, that's lovely.

Speaker 3 (01:15:59):
You had a ball.

Speaker 1 (01:16:00):
Yeah, I can't wait. I'm going to Iceland, Germany and
Poland in September. It's going to be it's gonna be
a canna be huge. The Sea family I've never met
in Poland.

Speaker 3 (01:16:16):
My brother in law want to do that. I don't know.

Speaker 1 (01:16:19):
Is that the one that I met? Yes, Ny, he
said that I was wonderful. Thought.

Speaker 3 (01:16:26):
I think I thought he said you would lovely he did.

Speaker 1 (01:16:29):
I don't know what bears him. All right, So, uh, we've
had a couple of unbelievable gains in the markets here.
I want to talk in general terms. I don't want
to talk about specifics. You know, as I've said, over

(01:16:50):
the last year, we are researching and looking at alternative
investments that are out in the marketplace right now. Barons
this week has an article in Barns and it talks
about the best annuities that are in the marketplace right now,

(01:17:12):
the best top one hundred annuities, which I'm going to
take a look at. But Chris has been in the
business now for forty three years, and it's really his
focus has been retirement income distribution. Worked for a major
investment banking firm and kind of focused in on that.

(01:17:32):
What are you finding out? What are you finding out
about these new products? Because I really haven't spent as
much time as you and my son. But what's your
overall if you just do it, not specific or the
name of the company, what's your overall view of what's
going on with Because the more I look into this,
the more I'm like blown away. As far as how

(01:17:54):
they protect people.

Speaker 3 (01:17:55):
Well, I'm very very excited because I think we're going
to have a couple of strategies that you're going to
be unlike anything we've ever worked with.

Speaker 1 (01:18:03):
Before in forty three years.

Speaker 3 (01:18:05):
Yes, And to answer your question, when we came into
the business, they were I don't want to say annuities
were boring, but they were boring.

Speaker 1 (01:18:17):
Yeah, but interest rates when I got into the business
for twelve fifteen percent.

Speaker 3 (01:18:20):
That's right. I didn't say they weren't attractive. They were born.

Speaker 1 (01:18:24):
Imagine that, right. I know people used to bitch. They
used to say, you're kidding me, I can only get
twelve the guy down the streets giving me thirteen and
a half.

Speaker 3 (01:18:32):
Yeah, remember remember what inflation was? Oh yeah, absolutely, remember
what the tack backet? I remember what my first house
I think my first mortgage, I got a variable rate
because I was anticipating lower rates, and I think it
was like ten and a half percent. I know the
variable and you probably were dancing in the street. I
was droiella. It was the patent me on the back

(01:18:53):
and saying you're a lucky man. And then we'll talk
about your boygage just to.

Speaker 1 (01:18:59):
Look at the pain you've won. But maybe you didn't win.

Speaker 3 (01:19:04):
But David, I will tell you when you know that
the evolution of annuities, looking back over forty years, it's
crazy and I'm happy and proud to say to what
we can offer client today is the best I've ever seen,

(01:19:24):
without a doubt. We have a new strategy to all
of us that the office are working on, and I'm
just a maze.

Speaker 1 (01:19:34):
So if who are they really suitable for? Are they
suitable for the people that have five hundred thousand to
a million five or are they suitable for somebody that's
got fifty I mean because I have a very good
friend that works for a major investment banking firm that
does family office business. These are people who all have
fifty million dollars of net worth. Their greatest growth of

(01:19:58):
their products that they utilized for these clients last year
was annuities.

Speaker 3 (01:20:04):
I believe that because the thing is many times, especially
like in a family office setting, they're not shooting for
the moon. They're looking for consistent guaranteed returns or as
close to guaranteed as they can. You give them five
and a half six percent, they're dancing in the street.

(01:20:25):
So instead of managing a portfolio, excuse me that by
law you can't call guaranteed versus when you are backed
by an insurance company that can call it guaranteed, it's
worth a look.

Speaker 1 (01:20:40):
What do you think, Chris, I think they're suitable.

Speaker 2 (01:20:47):
In two different avenues. You know, there's they accomplished two
different things. So I think someone who is looking for
equity returns but they are more of a conservative, don't
really want to wash the market go up and down,
up and down. They want to have some exposure to
the S and P five hundred, but they don't really
have the stomach to just buy it outright in their account.

(01:21:10):
I think getting into like a buffered product is exactly
what is meant for that type of investor. So someone
who and then it also makes sense for people who
are like fifty nine and a half. You know, they
can roll out a portion of their their four oh
one k and they want to go into you know,

(01:21:30):
an investment vehicle where they still have access to the
growth of the s and P five hundred, but they
do want some protection on that as well, on the
downside through you know the next couple of years whatever
that may be. Say they're planning on retiring the the
red zone, right, if they're planning on retiring in the
next three to six years, here three to five years. Like,

(01:21:50):
the products are perfect for them because you can you
can get into one of those timeframe slots and just
let the money sit there in the SMP five hundred
and you know, get advanced participation with downside protection.

Speaker 1 (01:22:05):
Well today's barons. If you get barons, go get it
if you're interested, or if you want to basically go
through an unbiased opinion. And this is the headline. Annuities
are coming in new shapes and sizes. Here are one
hundred of the best ones. Annuity sales are soaring. Sometimes

(01:22:28):
they're complicated with confusing fees structures. Certain ones can make
sense for a portion of your retirement portfolio. This is
Barns Yep. This is Barns who is unbiased.

Speaker 2 (01:22:42):
Well, you know what they utilize, like a lot of
the very ultra high network people. The why annuities are
skyrocketing is because of grat annuities. And that's what these
firms are utilizing, which is just a what's the name
of the actually grant or yeah, it's a I'll get

(01:23:04):
it right here, let's see it is a grant or
retained annuity trust. Yeah, and the idea behind these, you.

Speaker 1 (01:23:10):
Know, like that's why you didn't want to rant on
your parade, so I'm let you research it. Yeah, yeah,
I don't even know.

Speaker 2 (01:23:15):
Yeah you said grant tory, I don't know if you've
had the other three words.

Speaker 1 (01:23:18):
I know it all. Yeah, I don't know.

Speaker 2 (01:23:20):
But day, But these people who are like CEOs or
you know, they're in hedge funds and all their net
worth is tied up in like stock or like company stock.
They do a grat which allows them to transfer say
five million bucks if stock into this grat if that

(01:23:43):
stock over the next three years goes to seven million.
But what the grat does is it pays out like
a yearly amount, so like it's going to pay out
like one and a half million dollars for the next
three years and are around that one point seven whatever
to get that five million dollar out. But whatever it
grows to over those next three years, their kids will

(01:24:06):
get tax free because of the the way it's set up.
So these ultra high network people is who it makes
sense for. But that's how they're transitioning money to the
next generation, tax free to their kids and getting it
out of their estate is through these grat annuities.

Speaker 3 (01:24:23):
You know. One of the greatest things, and that's when
when Christmas talking. I love when people come in and
we share ideas with them, just like what Christmas says,
and they all a lot of them say, I never
knew that. We take a lot of pride in educating.
That's what our job is. Was suppot to know what's

(01:24:45):
out there and how to apply it to people every day.
I agree that we see you were asking me, you
know what avenues are suitable? Chris covet it beautifully. That's one.
A lot of people will find the interest they want
to invent, but they don't like the downside. They don't
want to lose money.

Speaker 1 (01:25:04):
I don't think anybody does. Anybody like to lose money.

Speaker 3 (01:25:06):
So that's why some of these new programs that we're
working with mind blowing my you know, the other avenue
I wanted to say, real quick way, if people do
not have what they feel is enough guaranteed income and
retirement for the rest of their life, you have to

(01:25:29):
take a look at an annuit. This is a great way.
You're killing two birds with one stone. You're fully investing
your money. Yeah. Well, I had a guy say to
me the other day. He came in prospective clients are
actually going to call him a sweek and see if
they're going to move forward.

Speaker 1 (01:25:47):
And you know, he heard the number. You know, it's
it's amazing if people listen to the show and they consistently.
You know, three percent of our business's annuities, ninety seven
percent is active management. It's a very small percentage of
our business.

Speaker 3 (01:25:58):
Right.

Speaker 1 (01:25:59):
But I think with what I'm learning, and you know,
I need to dot my eyes and cross my teeth
ten times, and then I need to know what inside
and out before I'm going to recommend it any Because
I don't want to ever put something on somebody's spreadsheet
right or inside. I think that inside their portfolio that

(01:26:20):
is not suitable. I think what we've seen too within
the last week.

Speaker 2 (01:26:24):
There's a couple of people that are that are doing
these new annuities because we sat down and just explained
it to him and the extremely beneficial features that are
within them that you went over with me. The guy
was like, are you blown away by it? I honestly yeah,
Like I don't know, I don't understand. I was saying
that to them after the appointment, when he was explaining

(01:26:45):
to me this one feature that I didn't even know
was a possibility. I was like, wow, like this is
like it's almost like yeah, yeah, you're trying to figure out.
And I get how they're making them money on the
back end. It's all through options trading and like they're
they're making money on the margins. But I think they
became very competitive within the active management space these annuities

(01:27:10):
now to the point where it's like you could go
either avenue and really be set up. Okay, like you
can you can plan around either side of it. You know,
before it was like all the fees are astronomical.

Speaker 3 (01:27:21):
Right, and beautiful thing we can offer is no fees,
no handcuff. They can get out in and out anytime
they want, right.

Speaker 1 (01:27:31):
We'll talk about more when we come back. We had
to take a break our last segment. If you have
any questions or comments one eight hundred talk WGY. I'm
Dave Kopeck with Chris McCarthy and Chris Kopec. We'll be
right back. Are you ready for retirement or just hoping
it works out? Don't leave your future to chance. At
the Retirement Planning Group, we help you create a personalized

(01:27:52):
retirement plan so you can relax knowing you were prepared.
Take action today called eight eight eight five eight zero
one nine nine. That's eight eight eight five eight zero
one nine one nine. Or visit us at our website
rpgretire dot com. Schedule your complementary consultation. Your future will
say thank you. Six percenters. Do you know that eighty

(01:28:14):
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Speaker 4 (01:29:43):
Nine all right, we are back.

Speaker 1 (01:29:53):
I'm Dave Kopek.

Speaker 3 (01:29:55):
Hello, hello, christinher McCarthy is it Mike on? Is this
my okay?

Speaker 1 (01:30:04):
You didn't start drinking already on your birthday?

Speaker 3 (01:30:05):
No, you were.

Speaker 1 (01:30:07):
You weren't having some bloody Mary's in that corvette when
you pulled the No, no, no, Chris is he celebrated today. Boy,
he's got you got the fast car today.

Speaker 3 (01:30:17):
You guys got I do?

Speaker 1 (01:30:19):
Is that a stick?

Speaker 3 (01:30:20):
It is?

Speaker 1 (01:30:21):
It's not an automatic?

Speaker 3 (01:30:22):
Oh? No, nod clutch adjusted clutch, Masters cylinder. Everything replaced
Brandon Good and boy out.

Speaker 1 (01:30:31):
You know Marcella used to be down a mechanical Marcel's Corvette.
That's who I used to go to.

Speaker 3 (01:30:38):
No, I don't think I fami. The only one I
knew is uh boo.

Speaker 1 (01:30:45):
Yeah.

Speaker 3 (01:30:47):
But uh you know Joe boy, he had some beautiful corvette.
Beautiful cooy.

Speaker 1 (01:30:55):
That's my space cad out here. You want any work
space cadet, No coffee.

Speaker 3 (01:31:03):
He's going after the important things like Java.

Speaker 1 (01:31:07):
So getting back to you know, there's an article inside
Barons today. You know we haven't really kind of I
guess put a bullseye. You know, when we had the
preference plus years ago it was six percent six six
six percent growth, six percent income. That was a no
brainer for people up full upside potential to stock market
blah blah blah, and go through the whole laundry list.

(01:31:29):
But with the products today, you really have to dot
yourrize and cross your teeth. And you said something that's true,
but not true with all of them. Yes, some of
them are no fees, no charges, right, you can get
out of them at any time. Blah blah blah. Some
are not that way. You're absolutely, it's like the wild
some of the states. New York State's a little bit
different than most states because it's very, very very stringent

(01:31:53):
regulations through the roof. He goes to some of the
other states, it's like the wild West.

Speaker 3 (01:31:58):
Yeah, and I wouldn't even go so far as the
wild West. How many times have we encountered over the
years that New York won't approve a product that the
other forty nine states do?

Speaker 1 (01:32:11):
Too many, too many, And that's what I'm saying. Well,
the long term care product care Matters is a perfect example.
And you know the product, the product outside of New
York State is much powerful, much more powerful.

Speaker 3 (01:32:24):
Well, we appreciate that the product that New York State
crosses the t's dot the eye. But too many times
it's almost like is New York State right and the
other forty nine states are wrong?

Speaker 1 (01:32:38):
Well, you do realize that New York State also every
company has to be docimiled here yep, yep, So that's
a whole separate And they also have the reserve requirements
are a lot more. And also you got five hundred
thousand dollars for protection over and above the guarantee of

(01:33:00):
the insurance company. So you know, I always say, listen,
if there's a little bit of a difference, I'd still
go in New York because of all these additional protections.

Speaker 3 (01:33:10):
A great and boy over the years.

Speaker 1 (01:33:12):
Now I well think about it. When you and I
first started in business, you'll remember this executive Life, Oh yeah,
was going belly up yep, right. New York State came in,
took them over, basically took control of the company. They
were offering like fifteen percent guaranteed rates. Met Life came in,

(01:33:36):
took them over right after they negotiated with the New
York State Insurance Department, and instead of getting fifteen percent,
they gave you twelve. And everybody and I had a
doctor down in Albany who was in one of those
contracts previously before you know, he started working with us
and said, what am I supposed to do? And I said,
don't do a damn thing. Just sit tight. They're going
to They got you. You got that additional protection. You

(01:33:59):
had like three fifty four hundred thousand dollars that was
in the contract. He had five hundred thousand dollars of protection.
Even if it went belly up, he was getting his
money back and he was happy. He was happy he
got that. Met Life came in, took it over, and
you know, went on as merry way.

Speaker 3 (01:34:16):
And don't get me wrong, I mean New York is
a very strong consumer protected state. Yeah, they do, and
I've seen it over the years. I have no a
number of clients who received satisfaction going to the Jurant
Department because they were taking advantage up and they were
able to find satisfaction. And I do have a lot

(01:34:37):
of respect for New York State, I really really do.
I just think there's a happy medium somewhere that they might.

Speaker 1 (01:34:45):
I just I just came back yesterday, you know that
with Julie. We had an appointment out in Syracuse. And
as I've said, this is a beautiful state. You go
from Syracuse over to Albany, you go through like Saint
Johnsville and areas like that, know where, it's just it's beautiful.
It's just a beautiful, beautiful state. Chris and I the

(01:35:07):
last time we were in Syracuse, we had some extra time.
I took him down to Skinny Atlas the Lake. You
ever been there.

Speaker 2 (01:35:14):
Briefly? Yes's gorgeous. Yeah, you got to see some of
the homes there.

Speaker 1 (01:35:18):
What the other? What the other one? Sylvan Lake, there's
another svan. We got clients, We have clients in Sylvan Lake.

Speaker 3 (01:35:25):
You know. Just I couldn't agree with you more. I
loved I just wish the government got to act together.
But it's a beautiful state. It's a beautiful region of
the country.

Speaker 1 (01:35:36):
Take the fifth. Oh boy, I don't get into politics.

Speaker 3 (01:35:41):
No, no, we can't do some.

Speaker 1 (01:35:43):
Pots and pants throwing at me. I got a debt
in my front door from a pot.

Speaker 3 (01:35:50):
Well, you know, but I'm excited, and I hope more
people call our office and make appointments because I'm excited
about a lot of these strategies.

Speaker 1 (01:35:59):
Well I am too. But the thing is it's like
it's like anything else. We've got to basically get our
our act together so we understand it, so there's no surprises.
I don't want any surprises. No, no, no, no surprises.
And the thing is is that we've got to make
sure that, as I've always said, a D T R
T always do the right thing. Yep, you know if

(01:36:20):
you live by that, and that's your our mantra, you know,
always do the right thing. Tell people exactly if you
don't understand. I always told Chris when he first started
the business, you don't know what you don't have the answer,
don't try to you don't tap tap shoo around it.
Just say I don't have I don't know the answer,
but I'll get it back to you within twenty four hours.
You'll you'll know exactly what you want to know. And

(01:36:42):
people respect that.

Speaker 3 (01:36:44):
Oh absolutely never in my life, and I think it
had to do with the way I was raised. My
mother always said, never be afraid to tell someone you
don't know something, yeah, and that you'll get back.

Speaker 1 (01:36:58):
So this is the time of year where a lot
of people are going to be going they're finishing up
their final weeks of vacation. The track. A lot of
people will be going to the track. A lot of
people kids are going back. Your sister's going back to
college in two weeks, two weeks from when I think

(01:37:20):
it was two weeks from Wednesday. She leaves the thirteenth.
It'll be a week a week Monday, eleven days before
she's got to give back on the airplane and go
back to Florida Atlantic University FAU.

Speaker 3 (01:37:34):
So I'm so happy for her. You said, she's really
happy down there, phenomena wonderful.

Speaker 1 (01:37:41):
She'll be a sad little girl though, because summer came
and she found a friend. Oh boy, you know what
I mean.

Speaker 3 (01:37:47):
I do. Yeah, I think I can put two and
two together. I did well.

Speaker 1 (01:37:52):
They're going to have to kiss and hugins say see
in the fall. Oh boy, yeah whatever. But he's a
nice kid. He's very christ spend some time with him
the other days. Very nice, very nice. Man.

Speaker 3 (01:38:04):
You better be nice when you got she's got brothers
like him and his other one.

Speaker 1 (01:38:08):
Oh boy, you don't have to worry about the boys.

Speaker 3 (01:38:11):
You know. And that's one thing about my sisters. I
adore my three brothers in law. I just I really
do it. Just all makes life a little bit easier.
And my boy here in the area, he's he's he's
like a brother I never had. That's great, you know,
he's just I love him the depth, and you know,

(01:38:33):
just so blessed, but just so blessed.

Speaker 1 (01:38:36):
Well on your birthday, were glad, you're blessed.

Speaker 3 (01:38:38):
My sister's are beautiful too, they are. If you're listening,
you're all beautiful.

Speaker 1 (01:38:43):
Yeah, you know, I'm listening to this, but I haven't heard.
I haven't heard. I haven't heard one compliment about me yet.
I love your big guy that you see that tear
coming down my cheek. My wife had always said to me, Yeah, well,
if you don't compliment that, he's gonna curl up a
little ball, he's gonna start crying, all right. So you know,

(01:39:06):
we're laughing and chuckling today. We're kind of making it
a little bit more less intense. There. There's a little
bit of volatility in the air and the financial markets.
Like anything else. This shall pass, h make sure that
you're allocated properly. I've been saying for the last month

(01:39:27):
or so. Make sure you got some you know, money
on the sidelines. I expect I didn't expect, you know,
it's not. I'm not a market timer, but you know,
being in for forty three years, you can get a
pretty good sniff. When you get a rally like this,
you're gonna get a little bit of a sell off.

Speaker 2 (01:39:43):
Yeah, yeah, I'm not go ahead, no, no, no, I was
just gonna say, yeah, the the market, I mean, according
to the Buffet Indicator, it's pretty overvalued as far as historically,
you know, they're saying it's at like two. So as
far as like the market being overvalued, you know, if
you're happy with the return you've got, you know, we're

(01:40:05):
back to all time highs. Most people's portfolios are up.
If you're someone who doesn't like the stomach, you know,
the ups and downs now would probably be a good
time to rebalance, maybe reposition into some bonds or something,
you know, where you're capturing a little bit higher rates,
like these coupons that or yields that are getting kicked
off these money markets or corporate bond positions. You know,

(01:40:28):
some of them are still kicking off five six, seven percent.
So so if if you know stomaching the volatility, you know,
the ups and downs of the market is something that
you're not a fan of. And your equities have done well,
it might not be a bad idea to, you know,
call your advisor and have them reposition the account or
rebalance it into something a little bit more safe over

(01:40:48):
the next couple months.

Speaker 3 (01:40:49):
Here, I'll tell you one thing. It's amazing how many
articles are studied or whatever because you were talking about
market time. I hurry up, and I'm gonna hurry. I
got a knife, flogo, I got a knife blow. No.
All I was gonna say is I think for everybody
to try to time the market. For get it. There's

(01:41:11):
just been the articles that are saying ninety nine out
of one hundred people will miss out on the best
day because they think that they're getting out at the
right time, but they're not in at the right time
when it comes back.

Speaker 1 (01:41:24):
Okay, Right, So everybody have a fantastic weekend and be safe,
and we'll be back next week for another retirement planning show.
The information or services discussed on this show is for
informational purposes only and is not intended to be personal
financial advice. The investments and services offered bias may not

(01:41:45):
be suitable for all investors.

Speaker 2 (01:41:47):
If you have any doubts as to the merits of
an investment, You should seek advice from an independent financial advisor.