Retirement Planning Show

October 4th, 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 (00:16):
All right, good morning, another weekend Wow, first Saturday in
the last quarter of two thousand and twenty five. If
you can believe it, time is a flying. We just
had this chat the other day in the office. How
quickly When your son tells you that time is going

(00:37):
by quickly and he's twenty seven years old, that tells
you a little bit, but it is going by quickly.
I'm Dave Kopak. This is the Retirement Planning Show. We've
got some new guests this week. We've got the listeners
in the Hudson Lower Hudson region. We want to say
good morning to them on WKIP. We are an Al

(00:59):
Simulca down there. We've got a lot of clients in
the southern region of the state, so welcome. This is
the retirement Planning Show. We focus in on four particular
things during this show. We talk about investment management, asset protection,

(01:20):
and that I can get a little more into legacy,
the transfer of wealth eighty five trillion dollars folks will
pass on over the next twenty to thirty years from
the boomer generation to our children and our grandchildren. Think
about that eighty five trillion dollars. And then, of course

(01:42):
most of us do not have what pension benefits, so
we do a lot of work and retirement income distribution,
building out retirement income plans that will last a lifetime.
So this is talk radio, So our listeners that are
new down in the Lower Hudson region give us a

(02:02):
call if you have any questions or comments, even if
it's off topic. Eighty eight five eight zero one nine
one nine is the telephone number. Eighty eight five eight
zero one nine one nine, And I want to say welcome.
We're very happy to be there. We've got five offices,
soon to be six. We're opening up a satellite office

(02:23):
in Hyde Park in order to facilitate meetings face to
face with perspective. Got to get that out. More caffeine
please in existing clients. So again, glad to have you.
We try to make the show educational. It's not a
sales show. We talk a lot when when I say

(02:47):
asset protection, what am I talking about? You know, one
of the greatest risks for retirees today. And I don't
have to tell a lot of people that are going
through it. It's healthcare, the cost of healthcare. You know, Fidelity,
which is our custodian for all of our assets. So
if you like Fidelity, you're gonna love us. Matter of fact,
we're going to be out there the sixth, seventh, and

(03:10):
eighth of this week for a Fidelity conference in Boston.
But the bottom mind, Fidelity tells us that we're gonna
need about three hundred and seventy thousand dollars a husband
and wife, healthy sixty five year old couple going to
need about that amount of money for out of pocket
expenses for healthcare, and folks that has nothing, nothing to

(03:32):
do with long term care, that can be astronomical the
cost of long term care. My mother in law was
in a trade bed for an extended period of time
and that was about one thousand dollars a day and
at the Wittier which is down in the Kingston area.

(03:54):
So bottom line gets down to is that you need
to understand is that there is a lot of people
out there that are going through retirement, contemplating retirement, or five, eight,
ten years away. You really need to dot your eyes
and crush your teas because it's a whole different landscape.
I've been in the business for forty three years. Started

(04:16):
at Painweber, opened up the Morgan Stanley office with some
friends of mine here in Albany, and then I went
independent and the Retirement Planning Group, you know, we started
it with the focus of only managing assets, and then
it has expanded with strategic partners that help us do
legacy planning, asset protection, legal documents, long term care policies.

(04:42):
So we talk a lot about it. A matter of fact,
one of my buddies, one of my good friends and
also works with us, Chris McCarthy's going to come in
today at eight o'clock. And Chris has been in the
business a little bit less than me. He's been in
the business for forty years. I've been in the business
for forty three and Chris is going to talk about

(05:04):
some things that we're seeing out there in the insurance industry,
excuse me, and how they can be possibly beneficial for
you as a consumer of protection products during your retirement years.
So welcome Kip, WKP and the sister stations. As I said,

(05:27):
this is talk radio. If anything that I'm talking about
because we're live, is that there is anything that you
want to discuss, just keep this in the back of
your mind. Eighty eight five eight to zero one nine
one nine is the way to reach us and any
of our current listeners and clients and whoever it may be.
Now I got to do a little housekeeping, of course.

(05:47):
It rained September twenty fifth, was supposed to be our
golf outing for Tunnel to Towers and also for the
American Cancer Society, and we've moved it to Monday, and
it looks like it's going to be absolutely one beautiful.
So if we still have a couple of spots if

(06:07):
you want a golf but if you don't want a golf,
you can come to the luncheon, or you can make
a donation, which we would appreciate. Our goal is twenty
five thousand dollars this year to donate to those two
wonderful organizations. And if you would like to participate or
you want to just give a donation, you can call
Jimmy Corkoran. I got to tip my hat to Jim.

(06:29):
Jim has worked his tail off, as has everyone in
the office, my wife, the rest of the staff. Everybody's
really making a major contribution. We're really, As I say,
this is a big deal for us. As I say
over and over again that there's not a day that
doesn't go by that I can't tip my hat and
think the people that wear the uniform and also the
people that have served this country and have come back

(06:51):
that need some assistance and care. This is our first
year with Tunnel to Towers, and we've usually done the
American Cancer Society, so we look forward to it and
looking forward to meeting some of the individuals from Tunnelson
Towers on Monday. So again, if you would like to participate, Uh,
it's pretty easy. Uh it's uh five eight five eight

(07:16):
zero one nine one nine. That's eighty eight five eats
zero one nine one nine, eighty eight eight five eats
zero one nine one nine. And today in the studio,
if you'd like to participate, it's one eight hundred talk WGY.
Got a question anything that I'm talking about? One eight
hundred talk WGY. It's pretty easy. As as I said,

(07:37):
we've got soon to be six offices in New York, Syracuse, Saratoga, Albany,
Puentiana and soon to have an.

Speaker 3 (07:47):
Office down in the.

Speaker 2 (07:49):
Hyde Park area and also Glenn's Falls I've been doing
a long time, folks, long long time. So boy, there's
a lot to talk about. I don't even know where
to start. I really don't know where to start. When
you say that things are nuts, they're nuts. If if

(08:11):
you're just waking up from a long winter's nap, your
your government is closed, you know, they've shut things down.
Markets actually embraced it and kind of poo pooed it.
They probably they don't get anything done when they're there,
so I don't know what the difference is. So bottom
line gets down to is that we had a pretty

(08:33):
good new week in the market, and I'm going to
go through the markets. We wrapped up the third quarter
on a strong note. S and P five hundred gain
nearly eight percent for the quarter, Nasdak Tech heavy surged
eleven percent. The Russell two thousand small cap stocks performed
the best twelve percent, up twelve percent. So despite this

(08:58):
government shutdown, boo wo, who cares? They don't do anything
down there anyway. Investor sentiment has remained resilient, with the
S and P five hundred notching three three additional all
time highs, bringing the year to date a total two

(09:19):
thirty one. So there's a lot of key forces because
of that. We'll discuss it in detail.

Speaker 3 (09:26):
But guess what.

Speaker 2 (09:28):
Welcome WKIP and all the listeners you want to ask
a question. It's one to eight hundred talk WGY. I'm
Dave Kopek. This is the Retirement Planning Show.

Speaker 4 (09:53):
Retirement might feel far off or maybe it's just around
the corner. Either way, it's never two or latest. Start planning.
The experienced team at Retirement Planning Group makes the process simple,
straightforward and all about you. No pressure, just smart advice
to help you feel confident about what's next. Visit rpgretire
dot com or give them a call at eight eight

(10:15):
eight five eight zero nineteen nineteen to schedule your consultation today.
That's rpgretire dot com. Your future self well, thank you.

Speaker 3 (10:24):
Retirement is in a Sunday thing. It's a now thing.

Speaker 2 (10:27):
Whether you're just starting out or nearing the finish line,
the best time to build your retirement plan is today.

Speaker 3 (10:35):
Don't wait for the right moment.

Speaker 2 (10:36):
Let's create a plan that works for you, secure your
future and the freedom that comes with it. Call my
office today and take action eight eight eight five EID
zero one nine one nine. That's eight eight eight five
eid zero one nine one nine, and your future will
thank you.

Speaker 5 (10:53):
Born on America's darkest day of nine to eleven, the
Tunnel to Towers Foundation has been helping America's heroes, ever sins.
People who put their lives on the line for our
country and our communities need your help now more than ever.
Join Tunnel to Towers on its mission to do good
in their honor. Never forget nine to eleven or the
sacrifices of this country's heroes and their families. Show your support.

(11:16):
Donate eleven dollars a month at T two t dot org.
That's t the number two t dot org. Your retirement future.
Are you dreaming of a comfortable, financially secure retirement. It's
closer than you think. The best time to start planning
was yesterday. The second best time is now. Even small,
consistent contributions make a huge difference over time thanks to

(11:37):
the power of compound. Don't let your retirement dreams just
remain dreams. Start setting up your goals today. Take control
of your future. Call eighty eight bite eate zero one
nine one nine. That's eighty eight bite eate zero nine
one nine for a free consultation.

Speaker 2 (12:00):
All right, brought my drums in my guitar today, so
ready to rock and roll. Ashley's on the board. All
my friends are down there and they pick Keepsie area.
So good morning, wake up, time to get moving right.
You only got a certain amount of time the day.

(12:20):
I'm an early bird. I usually got up somewhere between
four and four thirty in the morning. The dog got
me up this morning. I actually slept a little bit
longer than usual. And she makes that noise. I got
a yellow lab, and she makes noise that Come on, daddy,
Come on, daddy, because she wants to watch go outside

(12:41):
do her business.

Speaker 3 (12:42):
And she wants some what food? She wants some food?

Speaker 2 (12:46):
Nothing like a yellow lab. Nothing like a yellow lab.
You want a dog that you don't have to worry about.
Got kids, babies, whatever, my kids, my kids, they're not
kids anymore.

Speaker 3 (12:59):
But my children love love the dog.

Speaker 2 (13:04):
So uh but good morning. It is Saturday. Believe it
if not, folks, we are in October. It's October fourth,
twenty twenty five. We're into the final quarter of twenty
twenty five. We're actually having a pretty good year. You know,
if you listen to the show, you know I'm not
a big believer in Wall Street, you know, predictions, because

(13:25):
ninety nine percent of the time they're wrong.

Speaker 3 (13:27):
You know.

Speaker 2 (13:28):
I always talk about the elves on Wall Street week,
you know, they would make their prediction for the year
and most of them would fall to the side. But
it's true again this year. I mean, who would think
that we would be sitting here right now where the
dolls up ten percent s and P five hundred is
up fourteen, ASDAC is up eighteen and the tenure right

(13:50):
is that four to twelve. That's the probably the disappointment.
A lot of people thought that the bonds, you know,
would have rallied a little bit more done well, They've
done well. But bottom line gets down to is that
we're very bullish on bonds right now. I think there's
a lot of opportunities, especially in tax free municipal bonds.

(14:11):
So bottom line gets down to is that if you
are looking at your portfolio for the quarter, you're probably
pretty happy with what you're seeing. So, you know, as
we're all quite well aware of the world is changing.

Speaker 3 (14:27):
You know.

Speaker 2 (14:27):
I grew up in a small little town. My parents
were farmers, and then they got real smart. They opened
up a restaurant, right, which was more work than the
working on the farm. But bottom line gets down to
is that there is a rapid development folks. I would say,
when I say rapid, it's pedal to the metal, screaming, screaming,

(14:51):
and it's the adoption of AI and where this is
going to lead us, right, and it continues to drive
a lot lot of the market leadership. Semiconductor stocks which
enable the build out of AI infrastructure have led most
of the gains or a lot of the gains this year.

(15:12):
And it's supported right, a lot of investing in data centers,
these huge when I say huge, huge facilities in order
for the AI capabilities to work. And then you got
some cyclical from the lower rates with the FED easing.

(15:34):
Maybe not as aggressive as Wall Street would like, but
they are easy. It's moving in the right direction. Okay,
so interest rates, sense of the areas on the market
are rebounding, such as what bonds, consumer discretionary, small MidCap stocks,

(15:54):
and of course what emerging markets. So here a little history.
I'm gonna give a little history lesson tonight because I've
been doing it now for forty three years.

Speaker 3 (16:07):
Okay.

Speaker 2 (16:08):
History tells us that government shutdowns, Oh my god, they're
shutting the government down had little lasting impact at all
on the equity markets. Of the twenty shutdowns since nineteen
seventy six, stocks were positive half of them and hire

(16:31):
three of the six afterwards. So by now there's been
enough data information that investors have experienced enough shutdowns to
know that the impact is short lived. And shutdowns, and
I want to over emphasize these two words do not

(16:52):
do not tend to alter broader economic or market returns. Okay,
with US stocks up thirty five percent since April lows
without any major pullbacks there, we're going to get a pullback, folks.
It's just it's inevitable. Okay, you might. We might be

(17:15):
a little bit more susceptible for some profit taking, which
we've seen because there's some uncertainty out there. Wall Street
doesn't like what uncertainty. But investors still have corporate profits
if you look at them, despite signs of the labor
market softening, profit margins are near record highs. Right so,

(17:40):
as third quarter earnings is about to begin, consense consensus
consensus on Wall Street expects double digit profit growth for
the fourth quarter, fourth cour cour consecutive quarter, so we're
that leave us right. Bottom line combination of growing economy,

(18:09):
rising corporate profits, declining interest rates, what's that support pretty
positive outlook for a stock market. So this won't eliminate
bouts of volatility, as it never has black swan events,
et cetera. But against this overall market view, there could

(18:29):
be some pullbacks. We look at it as an opportunity
maybe to buy into some positions that we've you know,
sat on the sidelines for a while. In any weakness
spurred by government shutdown, to buy an opportunity, right, and
it's a buying upporne. So at the retirement planning group,
we favor large cap stocks. We like a little bit

(18:53):
of exposure of course to AI and given these stocks
multi year out performance, investors may want to use these pullbacks,
as I said, to diversify into some portfolios, individual positions
and do some rebalancing. For the final quarter of two

(19:14):
thousand and twenty five, Down's up ten s and P
five hundred is up a little over fourteen. Nasdaq is
up eighteen. Pretty good numbers. Who predicted that at the
beginning of the year probably none of them. They were

(19:37):
all basically saying, you know, be lucky. If we get
single digits as far as total return in twenty and
twenty five. So what's that tell you? Over and over
and over again, I've told you they'll try to time
the market. You're not going to be able to do it.
I'm in the camp, the old Warren buffet. If you're

(19:57):
not willing to stay ten years, you shouldn't be in
it for ten Stay diversified, know what you own, have
quality investments, especially if you have the ability to create
income or you have to create income for your retirement years.
Then the final thing is have a sandbox account, have

(20:21):
an account that you play around with. I do myself personally,
my wife does personally. We're a little bit more aggressive
in our sandbox accounts than we are in our traditional
types of investments. So overall, I'm pretty optimistic this will
pass as it always has. You know, they'll come to

(20:42):
some sanity down there in Washington where they'll say, you
know what, maybe we ought to sit down and have
a discussion here. You know, we'll sign the cr We
got seven weeks in order to get our business done,
So don't worry about the shutdown. Shouldn't cause you anxiety.
I look at it as an opportunity to review, check

(21:03):
everything in the portfolio, do some repositioning, talk to your
financial team, and I emphasized team. This business is too
complicated today for one individual to be doing all the
work that needs to get done. You know, when I
started in the business in nineteen eighty two, we sat
smiled and dialed at Pain Weber. You know, I sat

(21:28):
right next to the branch manager. He had a glass
wall between me and him. I shared a quotron, remember
those quotron machines.

Speaker 3 (21:35):
They used to spend.

Speaker 2 (21:36):
Used to share one with Mo Marlin. We didn't even
have our own computers. And what my job was smiling
and dialing making contacts mister and missus Smith Dave Kopek
here from Paine Webber got a minute, I got a
great investment idea for you, and I did that, and

(21:57):
did that, and did that morning new trying to build
out a book of business. I'm telling you, folks, those
days are done done. Now you deal with wealth management teams.
As I said, there's eighty five with a t trillion
dollars of wealth out there that's gonna move over the
next twenty to thirty years. Are you ready? Do you

(22:21):
have a plan that's the common theme that we hear
over and over and over and over, Ashley. We got
a song that says over and over again, no gotta
find a song because I say this over and over again.
They'll say, well, Dave, you just looked at our stuff,

(22:42):
and you know we got all these positions. We got
the credit union, I got that old for I one k,
I got my current for O one K. My wife's
got her accounts and she's got a guy over here.
And I always say, you know what, what you have
is a nightmare. You don't have an investment plan or
a wealth management plan or retire well, you have his fragmentation.

(23:02):
And what you need to do, mister and missus Smith
is to consolidate, simplify and build out a What can
I hear some horns?

Speaker 3 (23:12):
Please?

Speaker 2 (23:14):
You need a plan. You need a plan, nothing more complicated.
You need a plan.

Speaker 3 (23:22):
Right.

Speaker 2 (23:23):
Without a plan, any destination will do. You don't build
a house without, you know, some kind of a blueprint
a plan. There actually used to be a company that
used to advertise blue blue planet, blueprint financial planning or
something like that, which I thought was great. I thought
it was catchy, but it's true in our business. We

(23:45):
use the money. That's our software package. It's a great
software package that we purchase. They don't give it to us.
We purchase it through Fidelity, and it's basically your dashboard
will tell you exactly where you are, what you need
to do, are you on track, what adjustments you need
to make, what your returns have been. It's when I

(24:06):
say it's phenomenal, it's an understatement. So as always, this
is my pitch. You want to come in and have
a chat with us, It's pretty easy to do. You
just call my office eight eight eight five eight zero,
one nine nine and Jim will set up an appointment,
or Jared or Lisa or someone in the office. And
if you want to call in today, it's pretty easy.

(24:27):
One eight hundred talk to WGY. We're here, We're live.
Always makes it a much more interesting than me babbling.
I'm Dave Kopek. This is the retirement Planning show. All right,

(25:01):
get up, get a moving little zz top there. Ashley Ashley,
Ashley Ashley gets up early now too, which is good,
very competent engineer. Glad to have Ashley here today in
our team down south in the Poughkeepsie area. Kip welcome, Kip.

(25:25):
You're gonna love me. It would be the best thing
that ever happened to KP Right now, I don't have
an ego right I'm only teasing you.

Speaker 6 (25:35):
Know.

Speaker 2 (25:36):
I've been with my Heart Radio for a long time.
I can tell you one thing. They're great people. It's
a great organization. We are all over the country, all
over the world. Really, you can listen to the iHeart
app wherever you are, and we have clients now in
twenty eight states. We have a lot in Florida. I

(25:57):
go back and forth to Florida a lot, a lot
to have. Three of my four kids live in Florida,
one in Tampa, one in Sarasota, and one in Boca Raton.
That's where I spend four months January Februy, March in
April and Boca. So if you're listening in Florida, I'll
either come visit you. You can come to our office.

(26:20):
We use the Regis Corporation in Florida, meaning that they've
got lots of offices that gives us office space. But
I don't have to tell anybody that's in business today,
especially the financial services business, when I say that it's changed, folks,
from the first time that I sat in the seat
in nineteen eighty two. It's the difference between you know,
a model t Ford and a portion there's no comparison

(26:43):
at all. You know, we live in a world today
with technology overload, and if you want to get overloaded
with information on financial services, all the bells and whistles,
we can really load you up. We can make you
you know, we can make your brain blow up because
we can overload you. And I think that's a problem
for a lot of people. You know, the guy at

(27:05):
the water cooler that's always winning Monday morning quarterbacks that
said I told you to do that two years ago,
and you didn't. You know, we continue to have a
very I guess, consistent message and what that is stay
in your lane, stay in your lane. Don't go too

(27:29):
far to the right, don't go too far to the left,
stay in your lane. You know, it's like driving at
night with headlights suddenly going off boom. It's unsettling. Right,
you're swerving.

Speaker 3 (27:42):
What do I do?

Speaker 2 (27:42):
You're panicking and that rarely leads to what good outcomes. Right,
you crash, you hit the card rails, whatever it may be.
It's no different with investments. Folks seen it all, Think
about it. Think about all the events that I've seen
since nineteen eighty two, the flashcrab, the Internet bubble, nine
to eleven, financial crisis, COVID, seen it all. What's the

(28:08):
consistent message that I say to people? Stay in your lane.
Stay in your lane because why because any abrupt investment
changes will come back to bite you on what you
sit on. This shutdown is not going to be long.

(28:29):
I'm telling you, Okay, there's already information today when I
was reading the papers this morning of the cracks in
the Democratic Party. We're making all sorts of mistakes, and
all the guys are now coming out of the woodwork.
Why did you do this?

Speaker 6 (28:46):
You know?

Speaker 2 (28:47):
So I think it gets resolved sooner than later. And
when it does get resolved, we'll move on, right, we'll
move on. So don't make any rash decisions. As I
said to you before, and i'll tell you again, the
performance during these recent government shutdowns. Okay, after the shutdown

(29:11):
six months later, right during the Bush administration was up
twenty percent. Clinton was up eleven, Clinton seven, Obama eight,
Trump fourteen percent. So, as I said, I think a

(29:34):
combination of dry powder, what do you mean by dry powder?
We always have, you know, five to eight to ten
percent cash positions, especially over the past few years, because
we had fairly high coupon, had a high, you know,
pretty good yield on our money. Even though it was
a money market, a cash position. We're still getting over

(29:54):
four percent. Not bad on a historical basis. Right, Well,
now we're allating some of that dry powder. What did
I say I liked.

Speaker 6 (30:05):
Well.

Speaker 2 (30:05):
One of the I think great buy an opportunities, especially
right now for New Yorkers, is tax frese, tax frees,
or a screaming buy There's all sorts of information out there.
They just had an article I get barons every week,
which I probably should talk a little bit about. I
get barons. I love barons, but I get it on

(30:27):
the internet. I also get the hard copy in the
office because I like to read it sometimes every once
in a while and see what the ads are in
the paper.

Speaker 3 (30:34):
Love the ads.

Speaker 2 (30:35):
Right, So eighty percent of workers now this is today's Barns,
which kind of set me back in my chair. Okay,
hopefully everybody went and got their second cup of coffee.
Usually in the breaks, folks, that's when you get your
coffee so you don't miss you can't miss anything of
the show. Because you missed just a couple of seconds,
you might be really losing out on some very important data.

(30:58):
But eighty percent of work workers say they're making little
or no progress saving for retirement. It's a headline, Barns.
A new Goldman Sachs report finds that the rising cost
of living. What did I talk about in the beginning
of today's show, m healthcare? Is that going up is

(31:21):
pushing retirement further out of reach for millions of workers.
It's sad I see it. I have family members that
are in this position. Folks went and had a couple
of snacks and a couple of cocktails with my brother

(31:41):
and sister in law last night, and we're talking about retirement.
What's their concern? Do I have enough? What's their concern?
What are you gonna do about healthcare? Because there's an
age difference between when she and he qualify for Medicare.

Speaker 3 (32:00):
Currently.

Speaker 2 (32:01):
These are some key points from Goldman Sechs. This ought
to really make you warm and fuzzy. Forty percent of
working Americans right now forty what's that one hundred and
fifty million people live paycheck to paycheck. An additional two

(32:26):
fifths are not making meaningful progress on retirement goals. This
doesn't surprise me at all. The business that I'm in.
It's the business. It's the business that I'm in. The
total cost of retirement has risen four percent a year
over the last twenty five years, exceeding inflation, with home

(32:52):
ownership costs now at fifty one percent of posts tax income.
Go try to buy a house today. Had some gentlemen
on the other day. The showcase of homes is this
weekend in Saratoga Springs, magnificent homes. We had them on

(33:14):
Barry and Drew, and we talked about right. We talked
about the properties in Saratoga now where the construction costs
is about fourteen to sixteen hundred dollars a square for
these magnificent, beautiful homes. So Goldman Sachs suggests strategies like

(33:38):
Trump accounts for children and broader access to four one
ks to boost retirement savings. If you're in your forties
and fifties right now, listen to me, Listen to the
Almighty Dave. Get yourself into a high deductible health insurance plan.

(34:00):
Get yourself an HSA, tomorrow Monday at the latest. You're
gonna need it. You're gonna need tax preference money. You're
gonna need money growing on a tax free basis, tax
free distributions for qualified medical expenses. What did I just say,
A healthy sixty five year old couple, they need about

(34:20):
three hundred and seventy thousand dollars now and money in
order to pay for out of pocket expenses for medical
Anybody that's in this right now.

Speaker 3 (34:31):
They understand what's going on. You know.

Speaker 2 (34:34):
I had a good friend of mine that came in
the other day, melt Eeding Comman. I actually talked to
him on the telephone. Attorney work for the State of
New York and tax and finance, and he always likes
to bust my chops. Right called me and said, you
send in your quarterlyase. Sending your quarter loase. So I
said to him, I said, you know, I'm actually sitting

(34:55):
here looking at healthcare costs and trying to figure out
how we're going to face this in the future, not
only for myself but all my family and of course
our employees. And he chuckles, and I go, why are
you chuckling? He goes, I wouldn't know anything. About and
he doesn't because he's been very fortunate, and you work
with the state, and right now he has zero zero

(35:16):
in retirement him and his wife, zero out of pocket
expenses for healthcare, where myself personally right now nineteen hundred
dollars a month for healthcare for my wife, myself, and
my daughter. I'm an old guy with a young daughter
who goes to fau Florida Atlantic University. So millions and

(35:37):
millions of Americans are caught in what we call the
retirement savings bind not bond bind bid. And to say
that living cost are making it harder to save for
the young is an understatement. I actually feel bad for

(35:58):
the young people today because I think that things are
so screwed up for them that they really need when
they get out of high school. If they're not going
to college, there should be a class in high school
that goes over managing assets during your lifetime should be mandated.

(36:20):
That what Goldman Sachs is basically doing. They're painting a dismal,
dismal pitcher for Americans progress towards retirement dismal. Pretty smart people, really,
you know, top tier. I think they know what the
hell they're talking about. People are living longer, spending more

(36:43):
in retirement, pushing their girls goals out further. That means
what you're going to work a hell of a lot
longer than you anticipate it. And you better give us
a call because this is what we do. We are
the Retirement Planning Group. You want to have an appointment
one eight hundred talk WG whe to have a chat

(37:03):
eight D eight bitey zero one nine to one. Nine
is my office. We'll be back after this quick message.
I'm Dave Kopek, President of the Retirement Planning Group.

Speaker 4 (37:16):
The biggest mistake in retirement planning waiting too long. The
sooner you start, the more options and peace of mind
you'll have. Dave Kopek and the Retirement Planning Group are
here to help you build a smart plan that grows
with you. Whether you're five years out or just getting serious,
now is the time.

Speaker 5 (37:34):
Don't put it off.

Speaker 4 (37:35):
Visit rpgretire dot com or call eight eight eight five
eight zero nineteen nineteen to schedule your consultation today. Start early,
retire better.

Speaker 2 (37:46):
Retirement isn't 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. Don't
wait for the right moment. Let's create a plan that
works for you. Secure your future and the freedom that
comes with it. Call my office today and take action.

(38:07):
Eighty eight eight five eight zero one nine nine. That's
eight eight eight five eight zero one nine nine, and
your future will thank you.

Speaker 5 (38:16):
Ali Dwyer and her three sons lost their hero, Stephen,
serving our country in the United States. Army was Stephen's
calling and flying helicopters was his passion. Stephen was killed
in a Blackhawk helicopter crash over the Mediterranean Sea. Thanks
to friends like you, Tunnel to Towers provided his family
with a mortgage free home, giving them security and hope
in their darkest hours. Help more families like the Dwiers.

(38:39):
Donate eleven dollars a month to Tunnel to Towers at
T two t dot org. That's t the number two
t dot org.

Speaker 2 (38:46):
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 is not enough. Pensions are rare.
You need a strategy that turned savings into monthly income
that will last a lifetime. At the Retirement Planning Group,
we build customized income distribution plans so you can retire

(39:07):
with confidence, retire smart, live well. Call eight eight eight
five eight zero for your complementary consultation. A right, get up,
get moving, Ashley. I took a nice where are you from?

(39:30):
Originally this Poughkeepsie.

Speaker 3 (39:33):
Are you really?

Speaker 2 (39:34):
I took a ride to look at some office space
down there, and I was very impressed with the area.
I ended up in Rhinebeck and it's a quaint little community, beautiful,
great little restaurants. There's some bake shop there. I can't

(39:55):
think of the name of it. I didn't want to leave.
They saw me outside there, going what hell's this guy doing?
But beautiful southern tier of the state is gorgeous. So
to all of our friends down there at KIP, you're
gonna listen to us every Saturday, seven to nine, the
Retirement Planning Show. If you have any questions or comments,

(40:18):
it's pretty easy. You can call us today one eight
hundred talk to WGY. That's one eight hundred, eight two
five fifty nine forty nine. If you want to come
in for a complementary consultation. Call my primary office which
is in Saratoga slash Malta. And that telephone number is

(40:39):
eight hundred five eight zero. No, I'm sorry, eighty eight
five eight zero one nine one nine eighty eight five
eight zero one nine one nine. I get all these numbers.
They are bouncer on my head. But if you want
to check us out on the web, it's rpgretire dot com.
Glad to be at k ip like that, glad to

(41:01):
be a KIPI and she loves it dancing in the studio.
All right, we're talking about this new world that we
live in, folks, and the article that's in Today's Barons.
You know, it's tough for a lot of people out
there right now. The rising cost of living is draining

(41:27):
young Americans paychecks and retirees four to one k's are
not grown because they're not putting in as much as
they should be, and they're borrowing against the four one
k to do what pay for necessities. And here's the
thing that scares me. Okay, because i can talk until

(41:49):
I'm blue in the face, but I'm using Goldman Sachs data,
not Dave Kopex data. But Dave Kopex data pretty much
mirrors what Goldman Sachs as and barons today. If the
current trend continues, Goldman Sachs estimates fifty five percent of

(42:10):
Americans will be living paycheck to paycheck by two thousand
and thirty three, and at that point, the total cost
of retirement more than one point seven million, up from
one point one million in twenty twenty three. Over last quarter,

(42:30):
the basic needs as a percentage of post tax income
has risen. Home ownership, as I said earlier, now consumes
fifty one percent of median households post tax income, up
from thirty three percent. Childcare accounts for eighteen. Why do

(42:51):
you think a lot of young people are not having kids?
Go find out what it costs in a daycare. Why
do you think all the grandparents are not relocating to
their paradise for retirement because their babysitting. They're watching the kids.
So the young ones, their kids can bring in doray
me and put it in the wallet. It's family healthcare

(43:17):
of courses through the roof, and it's going up, folks.
We talked to our insurance consultant the other day. She
told us that look for rates to go up about
twenty percent in twenty and twenty six. Doesn't that make
you feel warm and fuzzy? So because of this, people

(43:38):
are delaying major life milestones. The average age of a
home buyer has risen to fifty six from thirty six.
In two thousand and two, the average age of a
home buyer has risen to fifty six from thirty six.

Speaker 3 (43:58):
Now this is.

Speaker 2 (43:59):
Goldman Sacks data, folks. So women are delaying motherhood and
couples are delaying marriage. I see it. I see it
every day. So the question that I have for you,
whether you were a boomer, a gen Z, a millennial,

(44:20):
it doesn't make any difference. We're all sitting in the
same boat. It's called the monkey is now on our back,
and now we have a lot of personal responsibility, and
the challenge is what are you going to do about it.
It's hard to save when there's only a few pennies left,

(44:41):
and because you miss out on some opportunities in your
younger years. My son did a illustration last week as
far as the difference starting at twenty five versus thirty five.
I can't remember the dollar amount, but at age sixty
five it was about a six hundred thousand dollars difference
using a net return of seven percent. So the government

(45:05):
is giving you all these catch up provisions as you'r
later in life. Now here's your savior, Okay. Which we're
going to talk a little bit about in today's wonderful, exciting,
dynamic program is the transfer of wealth. Eighty five trillion

(45:28):
dollars of wealth will transfer over the next twenty to
thirty years, and for me, it's going to be the
parachute suspenders in a belt. For a lot of the
kids and grandkids in order to basically have some type
of existence in their retirement years. For some of us,

(45:55):
depending on the profession that we chose, there's been some
unbelievable great opportunities for some of us that chose to
follow our passion and maybe not go into a job
that gives us a lot of money. It's important to

(46:18):
have some kind of a realistic expectation of quality of life.
There's nothing worse. And I know it because I lived
my wife and I didn't grow up with a lot
of money. Okay, when we got married, my wife was

(46:38):
doing a lot of stuff in order to pay the bills,
flipping and flopping and moving credit cards and stuff because
I was trying to build out a business.

Speaker 3 (46:47):
What does that do well?

Speaker 2 (46:50):
It causes anxiety, causes stress, right, you lose focus. Sometimes
you got all these beautiful kids that are growing up
around you, and all you're worried about what money money.
So the solutions that are out there are sometimes hard choices.

(47:14):
The BMW in the driveway might end up having to
be a Honda. The house that you always wanted might
not be the house in the right neighborhood, in the
right school district. You might have to get a house
somewhere where you basically have a ladder. You can ladder,
you can move up as you get more security. But

(47:39):
as we're right now today, the thing that is blowing
my mind when young people come in and we have
a chat with them childcare, childcare, The cost for young
people today to have kids, still work and pay that
bill for childcare, healthcare. What does it cost for me

(48:07):
to out of my pocket? XYZ Corporation is hiring me,
but what's my contribution? And then, of course the big
monkey that's sitting on our back right now. For a
lot of the young people twenty year old all the

(48:27):
way up to forty year old's right is college loans
that money that has to be paid back. You already
got a mortgage, you already got a house. It's called
a college loan. So it's important and it's imperative that
you structure a plan that's realistic, realistic, not pyeing the sky.

(48:51):
This is what I think I couldn't do. We want
to know what can you do? Because the worst thing
you can do is what start a plan and then
what walk away from it? So you have to have
a plan, whether you're twenty five, forty five, sixty five,
or eighty five. I don't care what age you're at.

(49:14):
Most people are fragmented. They have assets all over town.
They have no consistency, meaning they're not looking semi annual
or annual at their business plan, their retirement plan, what
do you want to call it? And that's the problem.

(49:35):
No plan, any destination will do. And that's what we do.
This is all we do. We have four generations now
that we're working with because I've been in the business
now for forty three years, so I've got clients that
are My oldest client just passed away one hundred and two.

(49:56):
He skied until he was ninety nine. In the adirontics,
we're living longer, and because of that, that means we're
going to have to have more money or we're going
to have to have more options, and that's what we
try to go through. We try to go through. Every
situation is unique and different. At the Retirement Planning Group,

(50:18):
we don't have a cookie cutter approach. It's not like
you dial an eight hundred telephone number and they ask
you a whole bunch of questions.

Speaker 3 (50:26):
Yep, okay, yep.

Speaker 2 (50:29):
That's the box I checked, Yep, yep, go through it,
check yep, yep, check that box. Okay, your scor is
an eighty nine, So this is where you need to be.
We recognize that every one of you encounters challenges along
the way health, family, work, and we address those situations

(50:49):
as they occur during accumulation, preservation and wealth transfer distribution.
We want to keep you on your plan, keep you
on track, and have a meaningful and purpose driven financial future,
not one that's filled with stress anxiety. That's not fun,

(51:12):
that's not retirement. So I invite you pick up the telephone,
give us a call. We offer a complementary consultation at
any of our offices in New York. We come to
you train plane boat. I don't care. We don't care.
We'll drive to you. We actually like traveling. We're good travelers.

(51:35):
So we invite you to take advantage of our complementary consultation.
Say you heard me on the radio.

Speaker 3 (51:42):
Listen to Dave.

Speaker 2 (51:43):
Can we come into the office or can you come
see us? Or can we meet you over zoom? That's
the new thing. I look forward to speaking with you.
Give us a call my office telephone number eighty eight
five eight zero one nine one nine eighty eight five
eight zero one nine. This is the Retirement Planning Show.
I'm Dave Popeck. We'll be back for the second hour

(52:05):
with Chris McCarthy.

Speaker 3 (52:18):
Good morning, we're back Jack. Like that one.

Speaker 2 (52:23):
Jack took me in about an hour to think of.
Think that one up. We're back Jack.

Speaker 6 (52:29):
Good for you.

Speaker 2 (52:30):
Chris McCarthy is here, otherwise known as wal Though. We're
glad indeed you're always looking for him? Where did he go?
Where did he go?

Speaker 6 (52:39):
Not far enough?

Speaker 3 (52:41):
Yea?

Speaker 2 (52:42):
When do you go to uh? When you go to Florida,
you go when spring Paul?

Speaker 6 (52:48):
One year was uh late February, early March. And then
this past this year was early April, early April. Okay, beautiful, Yeah,
you go to the keys. I do the last two
trips awesome. Bermuda never been beautiful. Yep, I heard that.

Speaker 2 (53:10):
Took my wife there. The kids had a great time.
We were watching some videos the other day. The kids,
they grow up so quick. David and Christopher both got
fishing poles for Easter and they ran downstairs and there,
you know, the Easter bunny came with all their stuff
and wow.

Speaker 3 (53:29):
David's going, just this great, this is the best. That's
the best fishing pole ever.

Speaker 6 (53:36):
Wow.

Speaker 3 (53:37):
It's just to watch them. And now they watch themselves
and it's just as funny as hell. You know, they go,
oh Dad, turn that thing off.

Speaker 6 (53:45):
No it is. It's beautiful memories, beautiful.

Speaker 3 (53:49):
All right.

Speaker 2 (53:50):
We still have like we still have a couple of spots.
I got to the little House game. We've still got
a couple of spots left for golf. If you want
to attend. Called Jimmy. No, I don't know if you can,
you can't. Probably can't know because because we're golfing Monday morning.

Speaker 3 (54:06):
So whatever. Hopefully Jimmy worked it out.

Speaker 6 (54:08):
Well.

Speaker 2 (54:08):
I'll have to give a call after the show well,
if you want to show up, Yeah, you want to
show up. Bring some money? Is the path moon, Bring
some money. It's going to be a beautiful day. Say
to our new listeners, down and Kip to be Kip.

Speaker 6 (54:24):
Good morning and thank you for listening. How long you've
been in the business forty plus years and you focus
on what come?

Speaker 2 (54:34):
There you go? Yeah, Chris join us. He's a graduate
of ub and finance and Economics degree and has been
in the financial services business for a long time. Only
took me about twenty years to get him to jump
the fence to come over to the A team.

Speaker 6 (54:52):
That's true. That is true. Every year you would see
me at the tournament.

Speaker 3 (54:56):
Yeah, I used to say, when you coming, I'll call you. Yeah, okay, yeah,
sure believe it when I say it. Well, eventually you
got them to call.

Speaker 6 (55:04):
Well. I'm grateful. I'm grateful. I did.

Speaker 2 (55:07):
Well. We're great. It's great to have you. Nico is
at a wedding today up in Vermont, and my son
Christopher is at our house up in Lake George chilling
with his girlfriend. Will deserve some time off and uh,
I'll be up to Lake George sometime this afternoon and
go out on the boat and look at because it's

(55:28):
starting to do what the leaves are turning.

Speaker 6 (55:31):
Yes, but i'll pay you spectacular. Has been incredible.

Speaker 2 (55:35):
As long as it's nice until Monday night. We're in Boston,
you know, six seven and eight.

Speaker 6 (55:41):
Yeah, yeah, I'm still waiting for that invitation.

Speaker 2 (55:44):
You're not coming. I've heard about I've heard about your
your I've heard about your events. They've actually got your
picture all over the police.

Speaker 6 (55:56):
I've been good for long, and long am I a wanted.

Speaker 2 (56:06):
People don't realize, you know, especially early stages of retirement,
how important it is not only to have the right
proper allocation of money for investments, but I can't overemphasize
enough how important it is. When we talk about the

(56:27):
four things that we do Chris, investment management, asset protection,
legacy planning, and building out a retirement income distribution plan.
The second one is the one I want to focus
in on in the second hour today because it's probably
the one that has spent the least amount of time on,
and that's asset protection.

Speaker 6 (56:46):
I agree, I mean, I totally agree. You know. I
think what I love about what we do is that
you know, we've been around the block We've been in
the business a long time. We have some very very
solid strategies. But you know, the thing is, you know,
especially when it comes to retirement income. You know, we

(57:06):
ensure everything that we own, cars, home disability, long term
care protecting to protect assets in the future. But it
also should be income.

Speaker 2 (57:20):
Oh there's no doubt, you know. I mean baseline what
we call baseline income to make sure that you have
more than enough money to pay the basic expenses with.
I don't care what you call it. You can call
it a ladder bond portfolio, you can call it CDs,
you can call it an annuity. But you need to
have some form of guaranteed income that you know whether

(57:41):
it's a good market or bad market, and you know
that you're going to be able to pay your bills
and not basically run in the corner and sit and
suck your thumb because the market just went down twenty
or thirty percent.

Speaker 3 (57:51):
Oh too painful to sell when you're down right.

Speaker 2 (57:54):
And the thing is is that most people they tell
you that they have the ability to weather the store,
and most of our clients do because I think we
do it right on the front end. Bottom line gets
down to is that you've got to make sure that
you know in two thy and twenty five. Right now,
an average of eleven four hundred people turn the age

(58:16):
of sixty five every day, eleven four hundred. It's a milestone.
Four point one eight million people reaching their traditional retirement
age in a single year. It's the highest on record,
right and this is going to go now right through
until twenty and twenty seven, I believe it. Twenty and
twenty seven, the tail end of the bab that's exactly right.

(58:39):
So the bottom line is is that the boomers are
the generation that's coming through right now. They have all
sorts of needs, desires, They're probably the most financially secure generation.
They are the most financially secure. They've created this unbelievable
amount of wealth, and the problem is there is a

(59:01):
huge disconnect between the people that have and don't have
right right the people that have not been fortunate enough
to accumulate the type of money that is necessary to
have quality of life. So one of the things that
we try to do at the Retirement Planning group is
not only to maximize your income, but we also want
to maximize things that you had in the past that

(59:24):
are not suitable for retirement. And what I'm talking about.
You buy insurance policies when you're protecting your family. You
buy insurance policies when you're protecting your kids. You buy
insurance policies when you're protecting an education for a kid.
If something happens to you and I can talk about
this because we both lost our fathers when they were
at young young.

Speaker 3 (59:45):
My dad was.

Speaker 2 (59:46):
Forty four, forty four forty five, yours was forty five.
So we've got a story to say. You know, I
was thirteen. How old were you fifteen? You were fifteen,
So we got a story to tell that bad things
happen to great people if they do right. So the
thing is is that if that is the case, you know,
I know that there's a listener right now, a family

(01:00:08):
down in the Kingston area that are listening to this
right now. Their father came in. I use this as
an example of what we're going to talk about. He
came in, wonderful man, but listen to your show for
a while, thank you. In the dentil industry, right, and
he had an old policy that his parents had bought
for him for years.

Speaker 3 (01:00:26):
Right.

Speaker 2 (01:00:26):
The policy he bought was a Whole Life Met Life
fifty thousand face value and it had like forty nine
thousand dollars of cash value, so there was no spread,
there was no risk to the insurance company because there
was like forty nine. He's in his early sixties, and
I said to him, I said, listen, our job is

(01:00:49):
not to sell you. Our job is to tell you
what you have and does this make sense at this
stage of your life? Does this make sense for you
to have that type of policy when you're in your
early sixties because you've got nowhere to go. You got
fifty thousand dollars worth of death benefit and he got
forty nine thousand dollars worth of cash value. So he said, yeah,

(01:01:14):
we'll talk about it. So I sat him down. I said,
when you come back at the next meeting, I'm going
to show you some ideas and concepts. Because he was
worried about protecting his estate, he was worried about protecting
his family, and he was also worried about a long
term care event. So there's three things he was concerned about.
So when we come back, we're in to talk about

(01:01:35):
what the answer was. But as always, this is talk radio.
If you want to participate on eight WGY if you
have a question, and again, welcome to all of our
new listeners at WKIP IM Dave Kopek. We'll be back
after this quick message. This is the Retirement Planning Show.

Speaker 4 (01:01:57):
Planning for retirement doesn't have to be a overwhelming especially
when you have the right team by your side. At
Retirement Planning Group, Dave Kopek and his team are here
to help you build a strategy tailored to your goals
and lifestyle. Whether you're nearing retirement or just getting started,
now's the time to take control of your future. Schedule
your free consultation today at RPG retire dot com or

(01:02:20):
call eight eight eight five eight zero nineteen nineteen Retirement
Planning Group Retire with confidence.

Speaker 2 (01:02:27):
Attention, future retirees. A financial threat is putting your retirement
at risk. The cost of long term care can be
well over one hundred thousand dollars a year fidelities. Recent
studies suggest retirees could need hundreds of thousands of dollars
just to cover medical expenses in retirement. You need to
address this risk now. To be prepared, call my office

(01:02:48):
to find out your options well eighty eight five eight
zero one nine one nine eighty eight five eight zero
one nine one nine for a complimentary consultation.

Speaker 5 (01:02:58):
When US Navy Chief Petty Office, Sir Michael Thomas Earnst
was killed in the line of duty, Tunnel to Towers
provided his wife and children with a mortgage free home.
Since Tunnel to Towers was founded in the aftermath of
nine to eleven, the Ernst family is one of many
the foundation has helped, but many more heroes and their
families are still in need. Together we can say thank

(01:03:18):
you by showing them our support. Now donate eleven dollars
a month to Tunnel to Towers at T two t
dot org. That's t the number two t dot org.

Speaker 2 (01:03:27):
We are living through the greatest wealth transfer in the
history of mankind. Trillions of dollars of wealth will change
hands from one generation to the next. Your money for
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. If future

(01:03:49):
favors those that are prepared, call eighty eight five eight
zero one nine one nine. That's eight eight eight five
eight zero one nine, one nine.

Speaker 6 (01:04:03):
All right, we are back.

Speaker 2 (01:04:05):
I'm Dave Kopek. This is a retirement planning show. We're
here on the weekends to edumacate you on all the
options that are available to you. Like that edumacation. I'm
just continually just amazing. You've written in verble.

Speaker 3 (01:04:20):
It's amazing. I amaze myself.

Speaker 2 (01:04:22):
I actually go in the bathroom when I just stare
at myself in the mirror, and I talked.

Speaker 6 (01:04:25):
We're hoping you'd do it longer.

Speaker 3 (01:04:27):
Than you have like it, actually like grolling her eyes, saying,
this guy is weird, weird, weird.

Speaker 2 (01:04:36):
This guy is weird, weird. So let me finish my story.
The guy came in prospective client, fifty thousand of face value,
almost fifty thousand of cash value. He comes back and
I said, listen, you told me a couple of things here.
You told me that this thing wasn't necessary to stay
in place as it was this policy. You told me

(01:04:57):
that you had no long term care coverage. And you
told me that you know you don't need the cash
in this policy for anything in the future.

Speaker 3 (01:05:04):
He goes yep.

Speaker 2 (01:05:06):
So I said, let me see what I can do.
So I went to our you know, insurance department, and
I said, listen, this is what I've got, and I
know that there's probably an apple out there that's going
to be better suited for this gentleman at this stage
of his life.

Speaker 3 (01:05:18):
Yep.

Speaker 2 (01:05:19):
They came back a link benefit product. And what the
link benefit product does is that it gives you life
insurance and long term care benefits all in one. What's
the greatest risk for people under insured in no long
term care coverage as they age. So he went through
the underwriting, came back and flying colors healthy. So there's

(01:05:42):
a thing in the insurance industry which you are well
aware of, called the ten thirty five exchange. You don't
do it until the other guy on the other side
of the fence, the other insurance company, says, yes, we
are willing to assume the risk, right.

Speaker 3 (01:05:55):
That is correct, thank you? Okay.

Speaker 2 (01:05:58):
So, so we took the almost fifty thousand cash value
forty nine thousand, save fifty just to keep it. Some
took the fifty thousand, transferred it over to a brand
new policy, the Link Benefit. It had life insurance and
it had long term care. So this is what it was.

(01:06:20):
The fifty thousand went to two hundred thousand dollars of
death benefit. No more premium necessary. Policy was good to
age one twenty one, one hundred and twenty one, and
if he ever needed care or assistance, the policy would
pay him four percent of the face value on a

(01:06:40):
monthly basis in order for him to have home care,
assisted living, or a long term care facility. So that's
eight thousand dollars a month for twenty five months. Then
it's gone. So it gives me living benefit and it
also gives me death benefit.

Speaker 3 (01:06:55):
Right.

Speaker 2 (01:06:55):
The greatest risk for most of us in retirement is
not having enough money. It's losing our money because of
a long term care. So what happens we get the policy.
He's dancing in the street. Everybody's happy, the wife. The
wife has two beautiful daughters or clients of ours. Everybody's happy.
We see one another, We're at parties and stuff like that.

(01:07:20):
I'm in Florida. I get a phone call.

Speaker 3 (01:07:21):
M M.

Speaker 2 (01:07:24):
I'm not sure, are you sitting down? Yeah, I got
we gotta tell you something, mister, mister whatever his name was.
I'm not going to mention you know, I know whose
name was, but I'm not going to mention it on
the radio. Died now, how will early sixties mm hmm,

(01:07:46):
had a I believe probably a massive heart attack. So
I'm at his funeral and I'm looking at him and
I'm saying to myself, you know, just by filling out
some paperwork, just by listening, not being sold, not having

(01:08:06):
a miss conception of what insurance products do in retirement,
because there's these idiots out there that will tell you
that insurance the only reason why we're doing is because
we get a big, fat commission. And it doesn't make sense.
You know, they're idiots, they're idiots.

Speaker 6 (01:08:25):
Screaming monkeys.

Speaker 3 (01:08:27):
Well they're idiots. No, they're just idiots. Okay, they're idiots.

Speaker 2 (01:08:30):
And the thing is is that simply by filling out paperwork, Chris,
he got two hundred thousand dollars of death benefit rather
than sitting on the fence and having fifty and doing nothing.
And if he did need care assistance, he would have
had eight thousand dollars a month in long term care
for twenty five months. How the hell is that bad?

Speaker 3 (01:08:53):
Oh?

Speaker 6 (01:08:53):
No, not at all. And the thing is, I love
what you said and how you said it. We are
not salespeople, No, we happen to be very fortunate. We
are armed with many different areas. We I like to
pride ourselves with more problem solvers than we are salespeople.
And if it makes sense, we're going to do.

Speaker 2 (01:09:17):
Why do you think there's these companies on TV that
market these You had a life insurance policy that you
don't need anymore? What's your options? Well, you can sell
it now, ye right, you can sell it? Well, you
can you can sell it and they come in and

(01:09:39):
they do a physical ONEA and they basically run it
through the computer and say, you got fourteen point eight
years left, it's a half a million dollar policy. We're
going to give you one hundred and seventy five thousand dollars.
That's that's an option. That's an option. The other option
is is that you've got a policy that's been in

(01:09:59):
force for a long period of time by sell agreement cash.
You know a lot of these guys have high cash
balances in some of these policies that were there for
protection or as an executive deferred compensation. Right that no
is no longer needed right now? What's it suited for now?

(01:10:19):
Where where can you reposition that money that is better
for you? At this stage your life, in your retirement years.

Speaker 3 (01:10:26):
And that's what we do.

Speaker 6 (01:10:27):
Absolutely, you know, we give people option. And I love
what you said about the life and show.

Speaker 3 (01:10:34):
Well you love a lot of stuff.

Speaker 2 (01:10:35):
I'm saying today, you're doing a lot of you know, kissing.

Speaker 6 (01:10:40):
I'm waiting for that paget. I gotta be nice to you. No,
what I was going to say is and you said
it beautifully. It's there's a lot of different life insurance
needs evolved, and like we say, we're big advocate for
termin huge, younger huge at the least expensive price.

Speaker 2 (01:11:07):
Buy the coverage you need, guarantee insurability, and make sure
you can convert it to permanent if you need to.
Those three things by term yep, buy what you're thinking
you need. Overshoot absolutely, don't undershoot.

Speaker 3 (01:11:21):
Overshoot.

Speaker 2 (01:11:22):
That's the biggest problem. I say this all the time
in the radio. I bought a half a million dollar policy.
They should have had three million dollar. I thought it
was more than enough. I was dumb. I just didn't know. No,
I was dumb, No, I was I was. I was
adverse to insurance at the time. But to be honest
with you.

Speaker 6 (01:11:38):
And then as time went on, you realize saw all
the different applications of it. And just like you said,
if you have that conversion ability for X number of years,
we don't know what life is going to throw it.
Just like that gentleman, that poor gentleman you said that
passed away. So get it now and then and.

Speaker 3 (01:11:59):
Shoot the moment.

Speaker 2 (01:12:00):
If you're a young person, you're listening to the show, Okay,
term insurance is like pennies on the dollar. You can
buy level thirty year level term. You can buy you know,
two three four five million dollars for nothing. You know,
it's a good weekend somewhere in the catskills, right right, Seriously, you.

Speaker 6 (01:12:16):
Know what killed the life insurance industry in my opinion
for younger people, the wall, tire the yeah, probably because
I think I couldn't agree with you more about younger folks.

Speaker 2 (01:12:26):
Well, the thing is is that what people need to
understand is that bad things happen.

Speaker 3 (01:12:30):
To good people and young people. That's exactly right.

Speaker 2 (01:12:34):
You know, we're having a an event on Monday for
tunnels to towers, and and also I worked in those towers.
Morgan Stanley used to go down there for meetings. I mean,
our offices were in Albany. So, by the grace of God,
we weren't in there that day that those planes at
those towers. You know, he used to stay at the Vista,
the hotel right between the towers. So you need to

(01:12:56):
understand is that, you know what, no one has a
crystal ball. Some of us are blessed, we live long lives.
Some of us are not. Some of us have health issues.
I mean, you know, look at the amount of cancer
that's gone through our family. I know, Julie lost her
brother at Stevie at what forty six? I think Stevie
was forty six when he passed through this, you know,
and you hear these stories. We're fortunate that we had

(01:13:17):
a long chat with the Tunnel to Towers before they
approved us to do this, and we spoke to this
guy Jack that gave the story about his own personal
situation during that day nine to eleven, and then talked
about Siller's brother what he was doing. You know, he
basically was off for the day, grabbed the stuff and
went back to help and ended up losing his life. So,

(01:13:38):
you know, we don't try to be what we're not. Okay,
not at all. We don't try to be what we're not,
and I always don't over always try to overemphasize this
to people. We don't have all the answers. No, we
don't guaranteed, but we get them. But we have strategic partners, Fidelity,

(01:14:00):
the attorneys, the CPAs, the insurance specialists that I've worked
with for over forty three years. I know the good
guys and I know the bad guys. I know the
guys that blow smoke, and I know the guys that
have substance.

Speaker 3 (01:14:15):
In gals. I'm gonna be biased here, so you know
they'll be calling me up. What do you mean? Only
you guys are smart.

Speaker 6 (01:14:25):
We don't need those kind of folks.

Speaker 2 (01:14:28):
I'll take Ashley the lunch next time I go down, Ashley,
I'll meet you down there and we'll have lunch in
rhine Beck.

Speaker 6 (01:14:35):
Thumbs up.

Speaker 3 (01:14:36):
That's beautiful. You've been to Rhinebeck.

Speaker 2 (01:14:38):
Beautiful, beautiful, beautiful, beautiful community. Well, the whole area down
there is gorgeous. The whole Southern Tier is gorgeous. I'll
be spent a lot of time down there.

Speaker 3 (01:14:48):
Yeah it is. It's a beautiful to stay there. They
invited me to spend the night.

Speaker 6 (01:14:52):
Oh boy, yeah, hey.

Speaker 3 (01:14:54):
Copek Oh God, help with throw my helicopter down all
the hell the one I play with, the mechanical one.

Speaker 6 (01:15:04):
We love the mittel.

Speaker 2 (01:15:05):
You know I can't get a flight from Aubity to Boston.
Do you know that we got it? You know, we
got the golf outing on Monday and I wanted to
fly to Boston.

Speaker 3 (01:15:14):
The three of.

Speaker 2 (01:15:14):
Us, we are, we are but the nineties of pain.
And you know what it is, nineties of pain, especially
if there's construction going on. I mean it's like pulling
teeth something. But this is our We're talking about insurance
products and how your insurance products are still necessary during

(01:15:35):
your retirement years, long term care, life insurance, for legacy planning,
basically taking older policies out with the old, in with
the new right a lot of ways. There's a lot
of ways, folks, that you can skin it and you
can get it in the oven and you can bake
the cake and it's all set and done. You take

(01:15:55):
it out and it's for this stage of your life.
Six five, so many changes usually in the I said earlier,
Think about what the business was like when you and
I first started. It's so different. If we had a
six gun, you had a six shooter and a belt
and a cowboy hat in a rifle. Our job was
to do what shooting, kill, shoot and kill. I mean

(01:16:19):
to shooting killed today Dave.

Speaker 6 (01:16:21):
But I'll tell you it is amazing when you think
about it, how the business has all.

Speaker 2 (01:16:28):
Right, we're coming back our last half hour. This is
Dave Kopek here with Chris McCarthy. Were talking about insurance
products in your retirement years. If you have any questions,
you can give us a call. One talk to be
Gy one two five fifty nine forty nine. We're live
in the studio. Don't be bashful. We don't bite. Ashley does,

(01:16:48):
but we don't bite them. All right. We got our
drum set. I got my guitar roll set. Did you

(01:17:11):
ever play an instrument? Did I ever ask you us?

Speaker 6 (01:17:14):
I played the bolap about thirty eight minutes.

Speaker 2 (01:17:18):
I got kicked out of band. I think I'm the
only kid in Who's the valley? He got kicked out
of the band. Dan Strike came up to me this
is I wanted to play the drums, but there was
already guy playing the drums, so he said, what do
you want to do? You want to do the trumpet
or the trump trombone. He said, I don't really care.

(01:17:38):
He says, you're doing the trombone. So he gave me
the trombone. So here I am.

Speaker 3 (01:17:42):
Can you see me playing the trombone?

Speaker 2 (01:17:45):
So Kenny Harder. Kenny Harder sat next to me, and
Kenny Harder played the trombone.

Speaker 3 (01:17:50):
I didn't bring that guy damn thing home once, that trombone,
not once. I had a hell of a time like
jamming it into my life.

Speaker 6 (01:18:00):
You probably play a mean air trombone.

Speaker 3 (01:18:03):
Oh I do. I do, so that's what I did.

Speaker 2 (01:18:05):
So I'm watching Kenny next to me, and you know,
there's only like two or three trombones in the band,
and I'm watching Kenny. I'm not blowing. I'm just watching
him his read looking down like this, and dance Dride
comes over.

Speaker 3 (01:18:19):
Who's the music guy?

Speaker 2 (01:18:20):
And he goes, can I see you after practice? Yes,
mister stry. So I keep my read going up and
down watching Kenny. We stop, everybody leaves, get my trombone
in my case and he says, you can leave that
with me.

Speaker 3 (01:18:44):
I said, why, mister Stray. He goes.

Speaker 2 (01:18:47):
Concentrate on sports. Oh, thank you, mister s I was
like high five and jumping. I was like a you know,
Mexican jumping bean coming out the door like you were freed. Jesus,
what happened, Dave? Where's the trombone? Mister stray took it?

(01:19:11):
Oh God, Christ Now I love I love music, love music.
I'll listen to Hall and Oates in a way and
one of my favorite groups. And Julie loves music. Julie's
loves music. And I bought her a piano. Did I
tell you the story?

Speaker 6 (01:19:31):
No?

Speaker 2 (01:19:31):
No, liquor store I go too has a player piano
in it, right, So great place to buy a piano, absolutely,
especially after you have a couple of bottles in you.

Speaker 3 (01:19:40):
How much you want to have. I got a deal
in the car. It won't fit in the truck. I
don't care. Tie up, tup, tie up. I'll try to
get home.

Speaker 2 (01:19:55):
So I went in there, and I every time I
went into the liquor store the player piano. During the
holid it was playing. I said, damn it, I'm getting
a player piano. So I started looking and Undertaker and
his wife were getting divorced. This thing was like brand new,
brand new, And I went into the house and they
wanted this, and I said, I'll give you this, and
they said, okay, we'll take it. So I got it.
We had it for a couple of years and we

(01:20:16):
loved it. And now they have player pianos that are
hooked up to the internet. So you get the player piano.
It's a baby grand right, it's hooked up to the internet.
So not only does it play right the piano, you
get the singer, and you get the background, and you
get the music and it's right there in your house.
So if I want to listen to Frank Sinatra or
whoever the hell it is, or Haul and Oates, I

(01:20:37):
got it right there on my player piano.

Speaker 3 (01:20:39):
It's unbelievable.

Speaker 6 (01:20:40):
Another reason never to leave you.

Speaker 2 (01:20:42):
It's another reason why I can never retire. I got
that one on the payment plan.

Speaker 6 (01:20:51):
Oh it is. It's fascinating.

Speaker 2 (01:20:53):
Well, the world that we live in today is fascinating
and what we're seeing, you know what we're trying to
say to people. We'll get back to some financial information.
But as you can tell, the listeners are new listeners WKP.
We like to have fun, we like to laugh. We
like to take serious things and sometimes condense them down
to some funny things. What that analogy there is what
things change. People change, financial products change, financial services, change

(01:21:19):
your position in a life changes. Right, you can't keep
the same apple on the tree because ultimately it's going
to want go bad. So what you have to do
is you have to basically do things differently at different
stages of life. And as you get closer to the
red zone five to seven years before we retire, you

(01:21:40):
got to get motivated. You got to build out a
plan and say, listen, how far away am I here?
Am I target? Am I going to meet my target?
As far as the date that I want to walk out?
If I'm not, then I'm going to have to make
some modifications and adjustments. How about these products that I
got during my accumulation years, these insurance products? You know,
you and I both know we'll say down with people

(01:22:00):
will ask them about their investment portfolio, or about their
insurance products or long term care. It's like Chinese math.
They don't know what the hell. They have no idea
what they got right.

Speaker 6 (01:22:09):
And you know, a lot of clients that come in
to see us, I think it's so important that they
understand the fundamentals of what we're doing and why we're
doing it. They may not want or need to know
every single detail. But I take great pride when somebody
can say, oh yeah, retirement planning group has me doing

(01:22:30):
this because of this great they feel good about it,
they understand it. It's our job to know and get
the education. We talked about it earlier. The annuity world
today is one hundred and eighty degrees from when we
first started the business.

Speaker 3 (01:22:47):
No comparison, unbelievable.

Speaker 6 (01:22:49):
And the thing is, when you hear all the idiots,
screaming monkeys, everything has a place in our world. It's
our job to make sure if it's a good fit
or not well for our current.

Speaker 2 (01:23:02):
They talk about annuities is being very costly, not the
ones that we sell for our clients, because not only
are they cost effective low costs, some of them are
no cost zero as the zip I know. So the
screaming monkeys, the pinocchios that are out there basically sending
a message that the only reason why people are, you know,

(01:23:23):
recommending these types of investments. The other thing I know
the other day I saw you and I wanted to
bring this on the air and have you let you
have a chat about it. People have no idea, especially
the screaming monkeys. I swear to God, they're idiots. They
have no idea what we have to go through and
get to an approval, unapproval to put one of these

(01:23:48):
types of investments in a client's account. I mean it's
I mean it's when I say that it's detailed and
basically know your customer and do the right thing, act
in a fiduciary capacity. If there's any investment that you're
getting involved in today that has anything to do with insurance,

(01:24:08):
it's on overload protecting the client.

Speaker 6 (01:24:10):
Unbelievable. You know, we've had some clients recently because it
was a perfect fit to do what they were looking
to do, whether it was the state planning, retirement planning,
so on and so far. Between the company and the
BD you're thinking probably sixty pages of documentation.

Speaker 2 (01:24:34):
Sixty and then you also have to get the authorization
from the State of New York.

Speaker 6 (01:24:38):
That's right, and trust me. Along this protocol, if somebody
feels that something is not in the proper place, they
will tell you and then it comes back and we
have to correct it. We're very fortunate.

Speaker 2 (01:24:53):
That's why I chuckle when I hear the scream monkeys
out there. Talking about this. It's either their stupid or
they're not licensed, so they have to pooh poo it
because they don't have the ability to basically utilize it
in their portfolios. And it's not easy. I just went
through all my CE credits, which I had to do.
You me, it's not fun. I mean, it's time intensive.

(01:25:15):
You got to pass certain exams and examinations. If you
don't pass them, you have to take them again. And
the thing is is that, why is it? Why are
we doing this? Okay, we're doing it protect the client,
that's right, or the prospective clients, And they have no
idea what we have to go through in order to
basically facilitate the ability for them to have these types
of products. Now, listen, just so people understand, this is

(01:25:38):
a very small part of our business. It only makes
up five percent, but our open architecture is very important
to us. We got to call her, Chris, who is
on the screen? Mike, Mike, is that you?

Speaker 3 (01:25:50):
Mike?

Speaker 7 (01:25:52):
Hi?

Speaker 3 (01:25:52):
Dave, Hey, buddy, how are you Hi?

Speaker 2 (01:25:55):
Good?

Speaker 7 (01:25:56):
I was hearing about the fifty thousand policy life insurance.
I have one too, is fifty thousand whole life. But
I was a little confused that the guy had forty
nine thousand in cash value. I mean he has to
be I have to be like two hundred years old.
On I have, like I have like ten thousand in

(01:26:18):
cash value. It gets four percent a year. So I figured, well,
I'll keep paying the insurance. I'm not going to cash
out because I would probably put it in the CD
to get four percent anyway, and I might as well
keep paying on the insurance and have the fifty thousand dollars.

Speaker 2 (01:26:37):
Well, how much cash how much? How much cash value
do you have? Mike in the policy?

Speaker 7 (01:26:43):
About a little over ten thousand, a.

Speaker 3 (01:26:45):
Little over ten thousand. How long did you have the policy?
See his parents twenty five years.

Speaker 2 (01:26:50):
His parents bought these policies when they were born, when
he was a kid. Oh okay, so he had it
for decades.

Speaker 3 (01:26:56):
Now.

Speaker 2 (01:26:56):
The other thing about that too, that's what we call
cash value life insurance. Right is that policy? Is that
policy owned by you or is it owned by a trust?

Speaker 4 (01:27:10):
Me?

Speaker 2 (01:27:11):
Well, do you have long term care insurance?

Speaker 6 (01:27:14):
No?

Speaker 3 (01:27:14):
Do you have a trust?

Speaker 7 (01:27:17):
No?

Speaker 2 (01:27:18):
Okay, you get sick or ill? The first two questions
they ask you in order to get Medicaid eligibility. Do
you have cash value life insurance, and do you have
non qualified annuities. If you do, you're going to basically
make them the beneficiary of those accounts.

Speaker 7 (01:27:39):
I don't have any nonqualified annuities, So well, you got
cash value life insurance.

Speaker 3 (01:27:44):
So if you don't have long term care coverage or
you haven't titled the insurance.

Speaker 7 (01:27:47):
Policy inside, you know, I tried to. I applied for
long term care and I got rejected because of cognitive
They figure they thought I was incognitive decline us.

Speaker 3 (01:28:00):
What about us? Do you have a wife?

Speaker 6 (01:28:04):
No?

Speaker 2 (01:28:04):
Yeah, so you're in You're in deep weeds. So if
something happens to you, if you're worried about that money
go into where you want it to go. You're going
to have to. You should come in and have a
chat with us. Tell them that, you know, if quality.
I can go through some ideas and concepts which are
a little bit longer in the tooth than doing it
on radio. Give me a call, come on in and
have a chat with me.

Speaker 7 (01:28:25):
Can you just tell me about the policy itself? If
the policy, would you keep that policy?

Speaker 3 (01:28:31):
Well, we never.

Speaker 7 (01:28:32):
Get if you can't shout on it.

Speaker 2 (01:28:35):
We never get rid of insurance. Because you're never as
young as you had it, and you're never going to
be able to get it again at that low cost.
What we do, though, the only time we change it, Mike,
is if there's a better apple on the tree for
this stage of your life. But I got a break.
I gotta take a hard break here. In about thirty seconds,
call my office and say that you had a chat.

(01:28:56):
Chris McCarthy kind of focuses is in on this and
he'll have a chat with either on the telephone or
you're going to have a face to face.

Speaker 7 (01:29:03):
Meaning okay, okay, thanks vate, God blessed, Thanks.

Speaker 3 (01:29:07):
Bike, We'll be right back. We're great.

Speaker 4 (01:29:21):
Time flies, and retirement will be here before you know it.

Speaker 5 (01:29:24):
Are you ready?

Speaker 4 (01:29:26):
Don't wait until it's two weight to get your plan
in place. Dave Kopek and the team at Retirement Planning
Group are helping people just like you take control of
their financial future right now. Call eight eight eight five
eight zero nineteen nineteen today or go to rpgretire dot
com to schedule your consultation. Retirement won't wait.

Speaker 3 (01:29:46):
Why should you?

Speaker 2 (01:29:49):
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.
Don't for the right moment. Let's create a plan that
works for you. Secure your future and the freedom that
comes with it. Call my office today and take action.

(01:30:09):
Eighty eight eight five ead zero one nine one nine.
That's eight eight eight five eight zero one nine nine,
and your future will thank you.

Speaker 5 (01:30:18):
Born on America's darkest day of nine to eleven, the
Tunnel to Towers Foundation has been helping America's heroes ever since.
People who put their lives on the line for our
country and our communities need your help now more than ever.
Join Tunnel to Towers on its mission to do good
in their honor. Never forget nine to eleven or the
sacrifices of this country's heroes and their families. Show your support.

(01:30:41):
Donate eleven dollars a month at T two t dot org.
That's t the number two t dot org.

Speaker 2 (01:30:48):
Your retirement future. Are you dreaming of a comfortable, financially
secure retirement. It's closer than you think. The best time
to start planning was yesterday. The second best time is now.
Even small, consistent contribution make a huge difference over time,
thanks to the power of compound. Don't let your retirement
dreams just remain dreams. Start setting up your goals today.

(01:31:09):
Take control of your future. Called eighty eight five eight
zero one nine one nine. That's eighty eight five eight
zero nine one nine for a free consultation. All right,
we are back. I'm Dave Kopek. I'm here with Chris McCarthy.

(01:31:30):
We're the Retirement Planning Group. We've got soon to be
six locations in New York, going to finalize the deal somewhere.
And I was going to do Hudson originally, and we're
going to do Hyde Park area and I got to
go back down when I get back from Boston. A
lot in ink Inca, Inca, Inca. I think that what

(01:31:51):
that's her name was, Inca Inca. I'll ink the deal.
Chris and I are just talking how we like to
have fun and hopefully you guys are just rolling on
the floor every Saturday from seven to nine. Not only
as far as the substance that you get from the show,
because our ability to make you smile, smile, laugh, got

(01:32:15):
Eddie loves the show. Eddie, I know what I'm talking about.
Eddie and Mike, the Dynamic duo, those guys are great.
Going to see them tomorrow Monday.

Speaker 6 (01:32:25):
Monday, Yep, We're going to see a lot of great
people Monday.

Speaker 3 (01:32:28):
Yeah, a lot of.

Speaker 2 (01:32:30):
Tunnel to Towers American Cancer Society, our golf event and
it's always a great day. Lots of prizes, a lot
of giveaways. Our goal is twenty five thousand dollars this year.
We're going to do it. One way or the other.
We're going to do it. I'll either make up the
difference one way or the other. We're going to do
twenty five thousand dollars.

Speaker 6 (01:32:48):
I'll tell you one thing. I'm on it to be
part of the team, especially representing such amazing charity that
we do.

Speaker 2 (01:32:57):
Tea to Teas. We did a little bit different last year.
We'll switch it up every year, but Tunnel to Towers.
Every time I watch that on TV. This is a
way for me to say thank you to those wonderful
people that did the ultimate sacrifice and also the guys
that came home not in the same condition they were

(01:33:17):
in when they left. And you know, I always go
my my wife was there last night because we're in
the football pool at the Legion and I'm always a
little bit what's the right word. I just wish that
I had served. You, I guess that I wish I

(01:33:38):
had served. They had the opportunity, and I was going
to see out of college, you know, the sophomore year
you can do rozzi ro OTC.

Speaker 3 (01:33:45):
And I was there.

Speaker 2 (01:33:45):
I was ready to do it, sign on the diet
line and the quantset and then you know, of course
I had a girlfriend, and and then I just decided
not to do.

Speaker 6 (01:33:53):
Well, you know, for obvious reason because back around eighty
eighty one I was talking to a recruit. But because
of my hearing.

Speaker 2 (01:34:01):
Yep, yeah, Chris has has had hearing problems. Well your
whole life, yep, since birth, since birth. No idea, why yeah,
no idea. You know, David, and you and your sister
has the same thing, right, Who are my three sisters
yet same?

Speaker 6 (01:34:18):
I think I have the worst?

Speaker 3 (01:34:20):
Is that? Is that something that they're going to be
able to diagnose in the future, you think? Ultimately, No idea,
my kid, you know, a DNA now and all that.

Speaker 6 (01:34:28):
But I'll tell you one thing, if I had it
all over again, I wouldn't have changed the thing. And
I'll tell you why. It taught me at a young
age appreciate what you have.

Speaker 2 (01:34:39):
Well, Julie and I are doing twenty three and me
trying to find out who we are. My cousin came
back and said that she was shocked as far as
the Kulpex side of the family, where she was twenty
two percent Jewish. So there's got to be some Jewish
in me because she's my cousin. So I've never done it.

(01:35:01):
I always thought I was Polish and German. My mother,
my mother's mother's side, and my father's side. My grandfather
was very, very silent, Leanne LeAnn Kopich and didn't have
a lot of conversations about his past. And the more

(01:35:21):
that we dug, the more we sniffed around, you know,
the more information we got. But with technology today you
can really, really, really get a lot of information.

Speaker 6 (01:35:30):
Could you find out about history? I mean, didn't have
anything to do.

Speaker 2 (01:35:34):
Now yet because we haven't got the kit back yet.
But we're doing it because my cousin did it. But
the thing is, I think I'm related to San Claus.
I think somewhere on the North Pole.

Speaker 6 (01:35:45):
God, I hope, I hope you are, so we can
maybe get a big hole.

Speaker 3 (01:35:50):
I sometimes I wake up and I say this, I do. Oh, so,
what the hell are you doing? I said, I don't know.
It just comes out.

Speaker 6 (01:35:58):
I'm te it's just hold. I'm taking my hearing eights out.

Speaker 2 (01:36:05):
But all right, let's get back to you know, you know,
as you can. Our listeners now down a k W
a KP. Somebody called in wanted to know our telephone
number at our office, so I'll give it out. We
give it out throughout the show. But if you want
to call our office and set up an appointment, a
phone call, a zoom meeting, whatever it may be, train, plane, boat,

(01:36:27):
whatever it is, I'll take a ride down the Hudson
in my canoe. That'll be a site, but a canoe
with my head dress on. But I would be more
than happy to give out our telephone number if you
want to have a face to face meeting, however you
want to do it. Our telephone number at our office
is eight eight eight five eight zero one nine nine

(01:36:50):
eight eight eight five eight zero one nine nine. Check
us out on the web. It's pretty easy. The initials
RPG Retirement Planning Group, RPG retire dot com, RPG retired
dot com. I got to go to Florida pretty soon too,
I was supposed to go down at the end of
the month, but I couldn't do it because of our golf,
and then the golf got canceled. But I've got to

(01:37:11):
go down and see some clients Florida when we get
back from Boston.

Speaker 3 (01:37:15):
I gotta set that up.

Speaker 6 (01:37:16):
So, uh, if you ever need me no to go
down at Florida client, no, please let me know. I
got the bag.

Speaker 3 (01:37:27):
What's her name?

Speaker 6 (01:37:28):
No?

Speaker 3 (01:37:28):
No, it's all business. Do you say old bag?

Speaker 6 (01:37:32):
No? Don't make fun of my bag.

Speaker 2 (01:37:37):
All right, So the bottom line gets down to is
that just realizes that with insurance products out with the
old and with the new, there are ways for you
to reposition that money at different stages of your life
in order for your insurance coverage to meet that stage
of your life.

Speaker 3 (01:37:55):
Right, I'll tell you, I'll listen to you. I'm babbling
too much. Go ahead, No, I'm what's you going to say?

Speaker 6 (01:38:00):
Like we've said, the business has changed dramatically over forty years.

Speaker 2 (01:38:05):
Oh, look at you know a lot of people don't
realize that, especially the people in the southern tier. We
have a major facility here in Latham right called Acho
Goldman Sachs, and they do wealth management for high net
worth people. I think you have to have at least
fifty million and up in order to go through their platform.
Their platform is basically a full integration tax planning, investment planning,

(01:38:29):
legacy planning. We do the same thing, not to that magnitude,
not to that magnitude. But the thing is is that
you have to you know, one little gidea, one mistake
can literally cost your family one hundreds of thousands of
dollars and not millions, depending on the wealth that you have.
So you've got to make sure that you dot your
eyes across your t's And as I say on every program,

(01:38:52):
what do you need in retirement? Well, it's pretty simple.
What do you need a plan that's right?

Speaker 6 (01:38:56):
And like I said, you know, we've been around the
block a long time. We've been very fortunate to be
affiliated with people in all the important areas, like you said,
estate planning, CPAs, so on and so forth. And I'll
tell you whether you're looking to maybe reduce risk on
your portfolio, you want to create more guaranteed income, You

(01:39:19):
want to make sure that your children and grandchildren are
being taken care of. You want to protect against long
term medical needs, we If we don't have the answers,
we'll get them. But we've been very fortunate, we're very
experienced in a lot of different scenarios.

Speaker 3 (01:39:37):
Call us.

Speaker 6 (01:39:38):
We'd love to sit down. It's a free consultation and
we'll sit down. We'll have a chat.

Speaker 2 (01:39:46):
Yeah, And all of the thing is is that it
sounds kind of corny, but it's something that I've been
saying for years, and you need to understand that. You know,
there's a lot of different strategies out there for collecting
social secure, but the bottom line is is that for
most of us right what's the most important thing to
do before we have the ability to get social security

(01:40:08):
is to get going.

Speaker 6 (01:40:10):
Yep.

Speaker 2 (01:40:10):
Implement a plan, because if you don't know where you're headed,
it doesn't make any end. Who cares where you end up?
You know, any destination will do. I know I say
this over and over again. I say it to my kids,
I say it to my relatives. Just get help because
it's been proven working with the financial team is beneficial
for you. And start early, Start early, and make it consistent.

Speaker 6 (01:40:35):
I'll tell you your son and I had a couple of
great appointments yesterday. The first one you could easily clearly
say the husband is very nervous about going into retirement.
He was looking at February next year. By the end
of the appointment, after Chris and I sat down, talked
to he and his wife, went over what they had,

(01:40:56):
put it up on the screen, took a look at it,
and it was heartwarming because he's walking out and me goes,
I am so much happier yeah, leaving than I was
coming in. Well, and that's what it's all about. Here,
here's the plan together. Here's the thing. It never hurts

(01:41:18):
to get a second opinion. A lot of times people
will come in. I just met with two people in
Syracuse the other day at Syracuse office and I met
with them. They listened to the radio show and they
basically said, you know, we're in here because you want
to take advantage of your second opinion. Basically said to them,
you're in good shape. You know, there's a couple of

(01:41:39):
things that I would do differently, but doesn't make any
sense for you to move the relationship that you've had
for years. Right, you're comfortable, they like the people and
blah blah blah. So I said, you know, just go
back to him and talk about this. The one one.

Speaker 2 (01:41:52):
Particular situation was they had assets going to children that
probably under the circumstances, that would have been better for
it to stay in a trust because it's kind of
a messed up situation as far as the husband and
wife and you know a lot of drug addiction and
all that nonsense, and I you know, there's we live

(01:42:16):
in a society today very common that you know, we
see people that have drug addiction, alcoholism, kids that have
problems autism, et cetera. There are ways to structure your portfolio,
your legacy that basically puts suspenders in a belt on.
It protects that money from creditors, predators, evil son in

(01:42:39):
laws and daughter in laws. Is if that's what you
want to do.

Speaker 6 (01:42:42):
But we always encourage two people before you make any
big changes. Call us. You know a lot of people
end up transferring the deed of their home to the kids.
There's other ways to do that. Call us far all.

Speaker 2 (01:43:00):
Right, we'll be back next week for another retirement Planning show.
Welcome WKIP to the Retirement Planning Show. You're gonna love us,
love us, love us, love us. We'll see you next week.

Speaker 5 (01:43:17):
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 by US may
not be suitable for all investors.

Speaker 3 (01:43:27):
If you have any doubts as to the merits of
an investment, you should seek advice from an independent financial
ob