Retirement Planning Show

October 18th, 2025.

Episode Transcript

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

Speaker 2 (00:17):
All right, good morning. Is the season.

Speaker 3 (00:24):
It is getting dark, dark, dark dark. One of the
clocks go back ash, do you know fallback soon? It's
got to be pretty soon. So this is a season
for carving pumpkins and getting ready for Halloween. Only got

(00:48):
a couple couple of weeks to go before everybody goes
a trick or treating. Everybody had a good week, a
little housekeeping, as you were quite well aware. I wasn't
here last week. I was in Knoxville, Tennessee, actually Pigeon

(01:10):
Forge for a wedding for my niece and had an
absolutely spectacular time. If you've never been down there, go there.
It is beautiful. It's the Adirondecks with better weather. It
was like seventy five eighty degrees, just absolutely spectacular. They

(01:34):
had a barn wedding and Pigeon Forge, not too far
from dolly Land. But everybody had a good time. Everybody
was safe. She married a gentleman who was in the Coastguard,
and all of his cronies, all of his buddies were

(01:54):
there and bad dudes. That's all I gotta say. Spectacular.
When I say bad, I mean it in a positive way,
serving their country. You know, these are the guys that
are up there in the skies saving people's lives, chasing
the drug runners and all that stuff. Had an opportunity
to talk to a few of them, and God bless them.

(02:15):
They're really doing spectacular work. And she married a wonderful,
wonderful Travis Young and well they're not young. I guess
they're not young to me. They're young, but they're in
their early thirties. She's a flight attendant and he's in

(02:37):
the Coastguards. So they're going to be doing pretty good,
living good lives. When I say a little bit of housekeeping,
I wasn't here last week, so I wanted to basically
give a summary because a lot of who did call
in and participate in her golf outing. This year, we
hit our goal. We hit our goal of twenty five,

(03:01):
which I think for you know a little firm like
the Retirement Planning Group, that's a pretty good deal. Twenty
thousand of that is going to tunnel to towers, and
five thousand this.

Speaker 2 (03:13):
Year is going to the American Cancer Society.

Speaker 3 (03:16):
And what we're doing is we're going to present the checks.
We do the check for the American Cancer Society here
in Aubany and then we'll go down to New York
City and present the check for twenty thousand for Tunnel
to Towers, which is on Staten Island. That is where
their corporate offices are. So we will have photographs of that.

(03:37):
We'll put it on our website. But for those that
did participate, thank you so much. Two great causes. You know,
last night I had a family event. My wife pulled
the rabbit out of the hat. She really got me.
I turned seventy this year.

Speaker 2 (03:58):
And we have a little dinner which I thought was
very nice.

Speaker 3 (04:03):
But little did I know that she was going to have.
We had about fifty sixty people, probably more like sixty
at a surprise party.

Speaker 2 (04:12):
I walked in.

Speaker 3 (04:12):
I thought, we're going to a party for my niece
or my nephew and his future wife, and it ended
up being a party for me. So my wife really
got me. I was totally blown away. And you know,
today today marks twenty eight years that I've been married

(04:36):
to my wife. Today's my anniversary. So my wife is listening.
I love you. Best thing ever happened. He was Julie.
They call her the saint for putting up with me.
We've been together for like thirty one years, but been
married for twenty eight. And who showed up, surprise, surprise,

(04:56):
My son from Florida flew in and my daughter from
Florida flew in. So we're gonna have a little get
together this afternoon, nice cookout or something. But just it's
just crazy how quickly time goes by, folks. You know,
I can always remember my parents' clients, loved ones. You know,

(05:17):
time goes by too quickly. I mean when you look
at it right now, it seems like we're just starting
two thousand and twenty five and we're in the last quarter.
It's October eighteenth. I said to the staff the other day.
We got about six or seven weeks of production before,
you know, we're gonna have to basically pull back the
throttle because of you know, the holidays are coming. But

(05:42):
you know, six seven weeks out, we're in the first
week of December. It's just crazy crazy. You know, Halloween
has not come and gone yet, and already all the
stories are filled with ho ho ho i went into
Sam's yesterday and there it is. The place is just
covered with Santa Claus and all the gifts and so

(06:08):
but there's a real quite well aware we are. Time
does go by quick. Time does go by quick. So
you get an opportunity to smell the roses. Smell them
because you don't know if you're going to be able
to come back and smell them again because the time

(06:28):
is just flying by. But again, thank you to all
of the participants for Swing for a Cure. And as
I've said, we raised twenty five thousand dollars, which I
think is a phenomenal amount of money for us to
raise at our golf, outing our strategue of partners. All
the staff at the retirement Planning group did a great job.

(06:52):
My wife participated, and you know, as I said over
and over again, thank you, thank you, thank you. A
couple other things I want to go over. We have
a special presentation that's coming up, and as you're all
quite well aware, I've been talking about this for quite

(07:13):
some time now, and all I have to say is
one thing. Healthcare. You know, healthcare right now, for a
lot of people is a major, major expense and for
a lot of us. I mean, if you worked for
the state or a municipality or a school district and

(07:34):
you've got your health insurance covered, you're way ahead of
everybody else. Because right now, I've said this on the radio,
and I don't mind saying it. I've got a twenty
year old daughter and I'm paying nineteen hundred dollars a
month right now for healthcare. My wife retired, she had healthcare.

(07:55):
I didn't get it because she didn't have enough years
in And then I've got a daughter needs healthcare, and
myself and eyes, you know, dental. When you add it
all up, it's about nineteen hundred dollars a month. So
if you're worried about this major expense that's coming down
the track here for your retirement years, the rising cost

(08:21):
of healthcare can really have a major major impact in retirement.
We're starting to see it, folks. So do you have
a plan and not only do you have a plan
for health insurance, but also do you have a plan
for long term care? Or are you just kind of
keeping your eyes closed and you know, crossing your fingers

(08:44):
and your legs and your you know, eyeballs and making
sure that you know, hoping that things will work out,
so you can't let this uncertainty threaten your financial security. Uh,
it's a huge expense. So I'm going to have a
presentation where you're going to get the facts, not smoking mirrors,

(09:08):
just the facts what you need to build a confident
retirement strategy that includes healthcare in long term care. So,
as I said, I've seen this happen. I've seen the
demise of a lot of portfolios because of the expense
for healthcare. And I'm going to give you the details

(09:30):
when we come back. We're going to have a special
presentation in November. So I'm Dave Kopek. This is a
retirement planning show. We're going to be back after a
quick message, we'll get your next cup of coffee.

Speaker 4 (09:48):
Planning for retirement doesn't have to be 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 rpgretire dot com or call eight eight

(10:12):
eight five eight zero nineteen nineteen Retirement Planning Group Retire
with confidence.

Speaker 3 (10:19):
Are you ready for retirement or just hoping it works out?
Don't leave your future to chance. At the Retirement Planning Group,
we hope you create a personalized retirement plan so you
can relax knowing you are prepared. Take action today called
eight eight eight five eight zero one nine one nine.
That's eight eight eight five eight zero one nine one nine,
or visit us at our website rpgretire dot com to

(10:42):
schedule your complementary consultation. Your future will say thank you.

Speaker 5 (10:48):
When US Navy Chief Petty Officer 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 eleven.
The Ernest family is one of many the foundation has helped,
but many more heroes in their families are still in need. Together,
we can say thank you by showing them our support. Now,

(11:10):
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 3 (11:18):
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 turns savings into monthly income
that will last a lifetime. At the Retirement Planning Group,
we build customized income distribution plans so you can retire

(11:39):
with confidence, retire smart, live well. Call eight eight eight
five eight zero nine one nine for your complementary consultation.
All right, we are back, So I want to get

(12:00):
back into my topic here, so I don't forget. I
went down and I reserved a room yesterday, got our
good friends at the Desmond right next to Albney County Airport,
and we're going to have a special presentation on the twentieth,

(12:24):
November twentieth. It's a free workshop and the title of
it is going to be healthcare and long term care
and retirement. What are your options? What do you need
to do in order to understand some of the pitfalls

(12:46):
and basically create your own roadmap for your own personal future.
We're going to record this put it on the website
also video, so our friends throughout the United states can
see we have a lot of people that listen to
this show, not only here in the Capital District region,
but we've getting a lot of acceleration that people that

(13:06):
like the show that listen outside the five point eight.
If you're quite well aware, we got a lot of
clients throughout the United States, twenty eight states we're in
right now, a lot of individuals in Florida, et cetera.
But when I say that this is not state specific,
I want to overemphasize our topics will include Medicare right,

(13:33):
what options you should select if you need a Medicare
supplement right, long term care options that are available to you,
and basically strategies that will protect your assets because I
don't have to tell anyone how expensive it is if
you need care or assistance today.

Speaker 2 (13:55):
Right.

Speaker 3 (13:56):
So, this event is going to be Thursday, November twentieth
at the Crown Plaza. Seating is going to be limited.
The last time we had a presentation like this we
had well over one hundred people. So if you want
to reserve your spot on healthcare and long term care

(14:17):
planning and retirement, I would highly recommend that you get
on the phone and you leave a message for mister
corporate and Jimmy at eight eight eight five eight zero
one nine one nine. That's our telephone number. That's eight
eight eight five eight zero one nine one nine, and
say I like to commit. For those that can't come
in logistically, that's fine. We're going to put it up

(14:39):
on the website, the video. You're going to be able
to see the presentation. But you know, we're going to
open it up for Q and a question and answer
because it's I think it's extremely important that you get
your specific questions addressed. I know, personally myself, I had
one of my greatest friends, Guy that I've known for decades,

(15:03):
and of course his partner is still with us, Dave
Wilkie from Wilkie and Associates. And then of course Fred Schaeffer.
Fred is you know, was Dave's partner for years. He's
still involved in healthcare for major groups. Oh, they told
me that this train was coming down the track. They
told me that healthcare was going to explode after Obamacare

(15:25):
got implemented. And to say that it's an understatement, it
is an understatement because for people that got rid of
their mortgage, you possibly have a mortgage again like me.
I mean I don't like spending nineteen hundred dollars a
month folks for healthcare, right, but you have to have it.

Speaker 2 (15:46):
You have to have it. So Terry.

Speaker 3 (15:52):
From Marshall and Sterling, the woman that I had on
a couple of times, we're going to have her on again.
She's actually going to speak twentieth at the Crown Plaza.
We're sitting down with her in the very near future
for my own personal situation to try to figure out
how I can maybe reduce I know that MVP just

(16:16):
sent me a letter that's who I have my Medicare
supplement with that I've got to say goodbye to them
at the end of the year. I know a lot
of the listeners are probably getting the same letter, so
it kind of puts me in a buy and like,
where am I going to go now in order for
me to get proper healthcare. So again, if you want
to register, you want to reserve your seat, it's pretty easy.

(16:39):
Just called Jim and just say listen, I want to
go to the workshop on long term care and healthcare
planning and listen to some of the strategies for not
only protecting my assets but also making sure that I'm
getting the care and the services that I'm looking for.
You know, it's you know, no one wants to think
about this. No one wants to think about this. No

(17:01):
one wants to think that you get sick, or you
get ill, or you don't have the capacity that you have.
But the reality is, folks, you have to talk about it.
You know, you can't just bury your head in the
sand and just do what you call ostrich planning. You've
got to have a conversation about this because it's important
for individuals, your loved ones, your caregivers possibly to know

(17:22):
what type of care you want, where do you want it.
You know, there's a major misconception out there that I
put my assets into an irrevocable trust and I'm going
to be able to basically qualify for all of these services.
That's not true. I'm telling you right now, it's not true.
You better not make sure that whoever you're working with

(17:44):
the legal team they know how to dot the rise
and crust their teas because it is a very slippery
slope right now because the counties are growing broke of
Medicaid expenditures. Counties are going broke Medicaid expenditures. All you
have to do is what percentage of the budget is

(18:05):
going to medicate In New York State, we're number one,
We lead the pack of all fifty states. We have
the highest expense of medicaid anywhere else.

Speaker 2 (18:18):
In the United States.

Speaker 3 (18:20):
You can combine states and they don't even come close
to the amount of money that are good friends in
all money are basically forking out. And you know, I've
had a lot of discussion with attorneys about this as
far as you know Medicaid planning. You know, people put
hundreds of thousands of dollars, if not millions of dollars
into a trust in order to qualify, to basically impoverish

(18:43):
themselves in order to qualify for medicaid. And they say
to me the same thing, Dave. We're doing it because
it's legal. It's an option that's available to people. You
can do spousal refusal in New York State. You can
refuse to pay for the care of your spouse. So
there's a lot of options. We're gonna discuss them all.

(19:04):
All of that will be discussed at the presentation. So
again I'm going to bang the drum too high here,
but I'll give you one more time. November twentieth at
the Crown Plaza that's right by the airport Former Desmond.
Everybody knows the Desmond And for those that can't participate,
we're gonna be able to put it up on our
web page rpt rpgretire dot com and you're gonna be

(19:28):
able to see it on video. Okay, but our office
telephone number is eighty eight five e to zero one
nine nine eighty eight five eat zero one nine one nine.
Don't let uncertainty threatn your financial security, folks. You need
to build a strategy. You need to build a strategy
for healthcare and long term careag just like you do
with the rest of your assets during your pre and

(19:50):
post retirement years. So okay, I'll give I'll do another
blast about this before the end today, but bottom light now.
Also just so you you know, we're at that time
of year right open enrollment which begins October fifteenth, so
if you're thinking about making a switch, but it goes

(20:11):
from October fifteenth to December seventh, So we're going to
have that presentation on the twentieth. Medicare recipients can change
their coverage for twenty and twenty six I mean switching
from traditional medicare to a Medicare advantage or the reverse

(20:32):
open enrollment is set to proceed even even with the
insanity down in Washington with this government shutdown. That's another topic,
but I'm not going to get into it because I
think that it speaks for itself what they've created in

(20:52):
Washington with Obamacare, it was supposed to reduce, reduce, down,
not up health care expenses. What's happened just the opposite.
They've gone through the roof. So you can look to
a little history of this. I've had many conversations right
why healthcare cost are basically so high sky high, and

(21:18):
you know right now, the consistent theme is is that
it's a fragment, fragmented.

Speaker 2 (21:26):
System.

Speaker 3 (21:27):
There's a lot of administrative waste, there's no price limits,
a lot of your drug cost or through the roof.
Compared to other developed nations and in many regions, you know,
I remember hearing this just recently. You know, a surgery
here in New York. If you go to some other state,

(21:50):
we could spend four or five six times more than
what you might get at you know, in Indiana rather
than New York or the Caroline versus New York.

Speaker 2 (22:01):
So I don't know.

Speaker 3 (22:04):
I wish, I wish I had an answer, because I
know one thing for sure, our experiences with hospitals recently, recently,
it has not been good, not been good. Are beloved
made of honor in our wedding Kelly who passed away

(22:26):
from cancer last year, you know, I remember she went
down to Albany Med and basically sat in the emergency
room for like a day and a half because they
didn't have a bed for her and she was in horrific.

Speaker 2 (22:43):
Conditions. So we'll talk about it.

Speaker 3 (22:48):
Hopefully we can give you, you know, some kind of a
path so you can make some decisions. One of the
things that you need to you know when you're when
you're doing this. I can't overemphasize this enough because we've
had a lot of conversations with people that are leaving
New York. They're not staying here, So you got to
know your zip code. So when you're you know, going

(23:11):
to a new destination with new doctors, a new coverage,
and if you're looking for asset protection, it's complicated, okay,
So before you jump and put it for sale sign
on the house, you better make sure you understand what
you're getting yourself into because certain states protect assets, certain

(23:36):
states don't. There are certain types of insurance policies that
are specific to a geographic location. But as I said,
we're an aging population. The boomers are coming through. The
boomers are coming through, and an aging population requires in
my opinion, more complex, more frequent medical appointments. And you

(24:03):
got to make sure that you understand that there are
defensive strategies out there for you. But again, one last time,
and this is all I'm gonna say, eight eighty eight
five EAT zero one nine eighty eight five EAD zero
one nine nine.

Speaker 2 (24:22):
And you can.

Speaker 3 (24:22):
Talk to James Corporate, Jared where Lisa or someone in
the office and say I want to reserve my seat
November twentieth at the Crown Plaza. We'll be right back.
We'll talk a little bit about the markets. All right,

(24:51):
we are back. Well, you got your second cup of java.
I think this would be a beautiful weekend. I think
tomorrow is supposed to be like almost seventy I tink,
I tink something like that.

Speaker 2 (25:08):
I saw it. I remember this morning.

Speaker 3 (25:10):
So if you're out and about, I want to welcome
our listeners on KIP to be Kip down the Poughkeepsie area.
I'm glad you're now part of the broadcast. We're going
to be live with you guys seven and nine every
Saturday morning. We are right now in negotiations for a
satellite office down there. It looks like we're pretty close

(25:32):
to pulling the trigger. So if anything that I'm discussing
is of interest to you, you can call our office
at eighty eight five eight zero one nine one nine,
have a chat with one of the staff and say
we'd like to have a conversation. Just so you know,
we offer a complimentary consultation in any of our offices

(25:55):
Syracuse Oneanna, soon to be the Poughketepsie area, Albany, Saratoga,
of course Glenn's Falls. We don't bite. Basically, we have
a conversation. We try to figure out where you're at,
what you're trying to accomplish. And the key is, folks,
you have to have what a plan flying by the

(26:18):
seat of your pants, the old saying, any destination will
do right. If you don't have a plan, any destination
will do and that's usually those are the people that
get hurt. So make sure you understand there are opportunities
out there in order to basically put yourself in a
better position or at least know at least know where
you're at. I always called the domino effect. When the

(26:42):
first domino drops, you know where the rest of them
are going to go. And that's important not only for
yourself but also for your family. But you know, we've
seen a pretty good route in the market here. You know,
we've had since April a thirty five percent rally, the
S and P five hundred, and there hasn't been any pullback.

(27:03):
I've been saying, dry powder, dry powder, dry powder. A
lot of your quote unquote market technicians analysts are basically
saying is that we're due for a pause. There's a
lot of headwinds out there right now. Everybody's quite well

(27:25):
aware as far as your wall of worry that the
market needs to basically digest tariffs, tariffs, tariffs, We talk
about that all the time. You know, tip for tat
what's going to happen with US and China. You know,
ultimately they need us as much as we need them,

(27:47):
and they'll be a compromise. So there's teriffs on Chinese
goods largely due to China's export on what happened with
rare earth. Right, We've been talking about this for years
where they've been dominating rare earth minerals, and ultimately the
United States is going to have to do something for

(28:08):
our own country, for our own protection. But I think
basically you're going to see some kind of a compromise.
I don't think it's sustainable what's going on right now.
So g and Trump will meet in South Korea within

(28:29):
the next week or so, I think the next two weeks,
so I think you'll see something come out of there.
And then of course our good friends in Washington like
to shut it down. I mean, it's just crazy. So

(28:49):
we're do don't know how many repeated failed votes we're
going to have in the Senate, you know, funding the
government through November twenty first. But in twenty and eighteen,
when the US government shut down, it lasted for thirty
five days, the longest in history.

Speaker 2 (29:11):
Right.

Speaker 3 (29:13):
Basically, what it does is that it shaves off some
of the GDP. But the silver lining during this shutdown
is that the US economic growth was starting from a
very strong position last quarter three point eight percent.

Speaker 2 (29:28):
Right, So.

Speaker 3 (29:32):
How long the shutdown lasts, I wish I had a
crystal ball, But the longer it lasts, the more economic
damage it's likely to create. Excuse me, I tickle my throat.
And if you're flying, okay, I hate to say it,
but some of the key agencies like TSA Air traffic Control,

(29:57):
they're start you know, they don't get their checks the
incoming a word, so it's not gonna be fun. My
two kids just flew back from Florida yesterday. They're gonna
fly back I think either Sunday night or Monday. And then,
of course, like I've always said, okay, manias, what's the

(30:17):
mania right now? What's the mania right now? The mania
right now is that everybody's talking about private credit, right,
private equity, and usually when that happens, that usually means
you're in what close to a bubble, right, So what

(30:39):
happened this past week uncertainty about regional banks, defaults.

Speaker 2 (30:49):
Of some of the.

Speaker 3 (30:52):
Western Xeon's bank and Western Alliance basically got kicked in
the teeth what they say was fraud loan associated with
certain types of investment funds, private equity, private credit right.
So please, folks, I can't say this enough. If you're
getting involved in private credit, in private equity, understand the

(31:18):
apple that you're picking off the tree.

Speaker 2 (31:21):
Okay.

Speaker 3 (31:24):
First thing is is that there's a word that most
people don't like, especially when they get an inch and
they want to go somewhere ill liquid. These investments are
not controlled by you. They're controlled by the portfolio manager
that's running the portfolio. So if you're contemplating at the

(31:51):
cocktail party private equity or private credit, right, make sure
you understand the word ill liquid, and make sure you
understand that if you need the doray me, you're not
gonna get the dough ray me. And also make sure
you never allocate too much into it as far as

(32:14):
your overall percentage of your portfolio, you know, two to
five percent, maybe like crypto once you got in crypto.
I mean, crypto has really been the mania for the
last few years now. Private equity, private credit. There's an

(32:35):
article that I just recently read in Barrens that talked
about you know this, is this really suitable? Is this
type of investment suitable because now they want to put
that into four on one K programs for the average investor.
My answer is absolutely one zero. Now, the rebuttal to
that is that you know four oh one K plans

(32:57):
are long term investments. So people that have five, eight, ten, fifteen,
twenty years they should be looking at those.

Speaker 2 (33:05):
Types of investments.

Speaker 3 (33:07):
And my position is is that they don't even understand them,
so how they going to look at them? The financial
advisor a lot of them can't even explain them. So
my position is is that I think with all of
this uncertainty right a trade, the government shut down, emerging

(33:31):
credit concerns, don't be surprised if we get a pullback.

Speaker 2 (33:37):
Okay.

Speaker 3 (33:38):
I don't think we're going into a bear market or
a deep sell off, but I don't have a crystal ball.
I could be one hundred percent wrong, Okay, but most
of the conditions right now are favorable when you look
over the horizon, especially as we head towards twenty and

(33:58):
twenty six. Federal Reserve is on a track to cut rates.
Saw a gentleman on Cudlow the other night and they said,
we're looking at three three now, you four years then,
and I don't have to tell you what's going on

(34:19):
as far as capital expenditures. What's happening with our corporations
here in the United States. G I know it's coming
out with some numbers this g Verona and ge Aerospace
is coming out with their quarterly But I agree with
what Trump says. One of the statements that Trump said

(34:39):
is that a lot of your countries look at years
where Wall Street looks at quarterly estimates. So about twelve
percent of the S and P five hundred has reported earnings,
but eighty five percent have had positive earning surprises. And

(35:01):
for the full year twenty and twenty five earnings to
be about ten and a half percent, and they're anticipating
that twenty twenty six earning growth should accelerate to about
thirteen to fourteen percent. That's good. Why is that good?
Because the mother's milk of the stock market is what earnings. Earnings.

(35:28):
Earnings are good. So is it time to rebalance? You're
heading into years end? As I said, you know, if
you remember, October has not been a friendly month some
years for the stock market. There's been major sell offs

(35:48):
in October. So rebalancing your portfolio and making sure that
you've got the right asset allocation. You know, balance portfolio
six sixty forty if that's what you got. But it's
a good time right now, a good time to look
at it. Make sure that you've got me some of
these stocks, as I said a couple of weeks ago,
I have gone up dramatically even this year. They take

(36:10):
the video look at ge Ge Verona what they've done
in the last two to three years. So overall, Marcus
can be choppy until we head into the weeks of
year in I wouldn't be surprised to see a lot
of alatility towards the end of the year because a
lot of people are going to be repositioning some of
their portfolios. But the fundamentals, I'm a fundamental guy, you know.

(36:33):
I believe in earnings and assets and balance sheets. But
right now I think that we're in pretty good shape.
What could happen is what we could possibly have a
black Swan event, which I never hope we do again.
But make sure you're on track with your long term
financial goals and you're diversified. Diversification is your friend. We'll

(36:54):
be back after this quick message. This is the retirement
planning show. Be any questions one, eight, two, five, nine,
fifty nine. We'll be right back after this quol question.

Speaker 4 (37:09):
Time flies and retirement will be here before you know it.
Are you ready? Don't wait until it's too late 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.

(37:35):
Why should you?

Speaker 3 (37:37):
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

(37:59):
to find out your options well eighty eight five eight
zero one nine one nine eighty eight five eat zero
one nine one nine for a complimentary consultation.

Speaker 5 (38:08):
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

(38:31):
support donate eleven dollars a month at T two t
dot org. That's T the number two T dot org.

Speaker 3 (38:38):
We are looking 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.

Speaker 2 (38:49):
Are you ready?

Speaker 3 (38:50):
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 favors those that are prepared well. Eighty eight
five eight zero one nine one nine. That's eighty eight
five e all right, we're back.

Speaker 2 (39:20):
Clear.

Speaker 3 (39:20):
You're do something fun this weekend. Go pick some apples,
Go get some pumpkins, drink some cider, hot cider. Julie
and I used to always go up to Vermont, used
to always take rides to Vermont. I can't remember the
last time we took a ride Vermont ever. Since we

(39:40):
bought the house up in Lake George, we don't take
these little excursions. We used to take these rides, even
with the kids when they were young. We throw them
in the back of the car. Used to be a
pumpkin patch just before he got into Manchester on the
right hand side. Used to be a great little spot.
We'd take the kids up there, they'd get their pumpkins,
we'd have a sight, donuts and all that happy nonsense.

Speaker 2 (40:03):
So maybe that's what you should do today.

Speaker 3 (40:05):
I'll give you. I'll give you a road that go on. Okay,
go up to Cambridge, New York and get on three
thirteen and then take three thirteen over from Cambridge to Arlington, Vermont,
and you follow the Batan Kill. And then when you
get to Arlington, take a left. I think that's Root seven.
Take a left and Root seven. I'll bring it into Manchester.

(40:28):
But it's just this time of year, if it's sunny,
and leave leaves.

Speaker 2 (40:34):
Spectacular. Spectacular.

Speaker 3 (40:43):
One of the things that we're starting you hear in
one of our commercials about this greatest wealth transfer in
the history of mankind. My generation, the boomers, we're leaving
all sorts of to our kids, expected to be somewhere

(41:04):
around eighty five trillion dollars. And as life expectancies increase,
you know where a lot of people are planning for
health their own personal financial needs. There's a problem out

(41:25):
there and we're starting to see more of it than
we've probably had in the past, and it's called blended families.
And this reality brings unique challenges in asset retention and
legacy planning. So you're ensuring fairness and financial security for

(41:53):
both the spouse and the children from a previous marriage.
And when I say that this has to require careful foresight,
it's an understatement. But fortunately, fortunately in the world that

(42:15):
we live in today because of the Boomer generation, a
lot of these complexities have been addressed in the financial
services industry with products that are specific for exactly what
I'm talking about. So, in a quote unquote traditional family,

(42:39):
you know, asset division is pretty straightforward, typically with the
surviving spouse inheriting the bulk of the estate. Might not
be a good idea, but that typically is what individuals do.
For blended families, this approach can inadvertently you can disinherit

(43:04):
children from a prior marriage, and I've seen some real
wing ding drawn out Hatfield and McCoy's fights because of
what mom and dad's intentions were. But I wasn't in
what black and white. So you're madly in love with

(43:27):
the new gentleman or gal and you're going to do
the right thing, right sweetheart. Oh yeah, yeah, yeah, yep,
I'm going to do the right thing. I'll take care
of the kids.

Speaker 2 (43:40):
And then.

Speaker 3 (43:44):
What happens dementia, One of the kids on that side
of the fence get power.

Speaker 2 (43:51):
Of attorney.

Speaker 3 (43:53):
And they leave all the assets to my kids. That's
what mom wanted. So the first marriage, the children end
up with what gooseg nothing And to say that this
causes significant battles is an understatement, especially with larger estates.

(44:19):
So even without this type of environment blended families, financial
securities is much more complex than individuals that never went
through a divorce. So having chats with your financial team

(44:39):
to provide for financial security for your current spouse and
also wanting to leave a meaningful inheritance to your children
can be accomplished, and there's different ways to do it.
So the gidda up with this is the topic that
we're going to be talking about on November twentieth at

(45:00):
the Desmond is going to be what a health event
a long term care event, and that type of event
can substantially and quickly deplete shared assets or assets that

(45:22):
were specific for the spouse that is now part of
the family, and it can diminish inheritance and basically impoverish
the spouse that's going to be left after the husband

(45:43):
or the wife pass away from their health event. So
what's the solution to this? How do you how do
you handle this type of event? Well, believe it or not, folks,
there are all sorts of insurance products now that we'll

(46:07):
talk about on the twentieth the Crown Plaza, Desmond, whatever
you want to call it, right by the airport, and
it's called hybrid Hybrid policies. They had a long conversation
with a gentleman that's an expert in this arena and
the basically blew me away with some of these products

(46:28):
that are now designed in order to facilitate protecting estates.
But it basically puts you in a no lose position.
What I mean by that, if you don't use it, it's
no big deal because you're going to get some form
of a death benefit. If you do use it'll be

(46:48):
the best money you've ever spent in your lifetime. If
there is a long term caravan, So you know, I
know a lot of people listen to Piro when he
comes on after me as far as how to tactically
title assets during your retirement years. But with that titling
assets also, that's just one piece of the puzzle. I

(47:13):
know that lou and his whole team are very major
advocates of these types of product what they call linked benefits,
especially for blended families. And when I say that they're powerful,
it's an understatement because if you don't. The biggest negative

(47:35):
for a lot of people when they looked at long
term care was I don't want to spend that kind
of money because if I don't use it, I'm going
to lose it. Well that's not the case anymore. You
don't lose it. And you know, three out of my
four children live in Florida. My son works with me, Christopher,

(47:58):
who's going to come in today at eight. But I
don't think he wants to be my caregiver. A matter
of fact, he's told me he doesn't want to be
the caregiver for mom and dad. So when we talk
about linked benefit products, not only for legacy or to

(48:21):
protect an estate, it also can be used right for
the surviving spouse. So it doesn't deplete the assets that
are there for the children by a previous marriage. This
allows the surviving spouse to maintain their lifestyle, their dignity,

(48:42):
ensures that their assets, okay, are going to be more
than accurate enough in order for them to have what
quality of life. So when you hear this crap with
these I call them the idiots to tell you that
you know life insurance and don't look at it insurance
and retirement and blah blah blah. They don't know what

(49:03):
the hell they're talking about. That's the bottom line. They
really they're either lost in the woods or their morons.
Because I'm going to tell you right now, implementing these
plans will give quality of life, respite, facilitate what needs
to get done, and guess what, avoids complications, avoids heartache, fights,

(49:35):
going through challenging, going through courts. So we're going to
talk a little bit about this on the twentieth as
far as how this comprehensive approach to retirement securities is
not just your health care right, but also long term care,
home care, assisted living. Think about it. How many people

(49:58):
do you know that have either gone through it or
are going through it or on the verge of going
through it. It's complex. I'd like to sit here and
talk about asset allocation all the time and how great
we are with fidelity as far as managing money and
all the things that we can do. You know, that's
what I call that. You know, blah blob planning, blowing

(50:22):
my horn planning. You don't need it. What you need
is that you need to be able to have a
specific plan in place that meets your goals right, meet
your goals, protect your assets, have an equitable legacy, pass
down to all your intended errors. And guess what, you

(50:42):
can dance in the street. You can go through the
pearly gates high five and because you know that you
did it right. If you're looking for that, if that's
something of interest to you, this is what we do
with the Retirement Planning Group. We build plans. We build plans.

(51:02):
We're not just asset money management. We are a planning firm.
That's what we do. We build retirement plans. So all
you have to do is call our office at eighty
eight five eight zero one nine nine. That's eight eight
eight five eight zero one nine one nine and say, hey, listen,
I heard.

Speaker 2 (51:19):
Dave on the radio.

Speaker 3 (51:21):
I want to have a chat. We can do it
by zoom, we can do it by ring central. We
can do face to face. Like I've always said, plane trained, boat, car,
don't care how it is. I'll take a canoe down
the Hudson. You want to see us face to save face.
A lot of you know't believe it or not. I
was in at Fidelity in Boston for three days. A
lot of my peers they don't even see people anymore.

(51:43):
You do everything over the internet. I'm a hugger, though,
so I like to see people. That was a quick hour.
When I come back, I got the two c's No
one C one K, got Special K, and I got
Chris McCarthy for coming in to talk a little bit
about this. Give us fall if we could be all.

Speaker 2 (52:09):
Right, We are back.

Speaker 3 (52:12):
I'm Dave Kopek, this is the Retirement Planning Show. And
my phone I just hit a button. My son is
fixing me. You shut it off. Stop hitting buttons. Well,
I wanted to. I wanted to say both both of
you guys were at the party last night, my surprise

(52:33):
birthday party. To say I was shocked as an understatement,
couldn't believe it.

Speaker 6 (52:39):
It was a hell of a surprise.

Speaker 3 (52:40):
Was there's about sixty people there something like that. Probably yep,
very nicely done. Well, Julie really blew me away, totally
blew me away. Beautiful, beautiful facility, isn't it.

Speaker 6 (52:53):
Ye?

Speaker 3 (52:53):
I don't even know the name of it. I know
it's called h the barn the Barnet Powers there you go,
beautiful And.

Speaker 6 (53:01):
He'd been waiting for that moment, say that.

Speaker 2 (53:04):
You know, I forget what Yeah, no, it's beautiful.

Speaker 3 (53:07):
It called I would say that that's about the good size,
sixty to seventy people. You wouldn't want any more than that. No, No,
it was a beautiful venue, Barnes gorgeous inside and then
they really did a nice job. But food was good.
Couldn't be happier, couldn't be happier. Saw people hadn't seen

(53:30):
in years, which is good. And uh, you know, if
my wife is listening, today's our anniversary.

Speaker 6 (53:38):
Happy, happy, happy, that's all I got.

Speaker 2 (53:43):
God bless her.

Speaker 6 (53:45):
We talked about this.

Speaker 3 (53:46):
Isn't he nice? You're out of the world. You just
screwed yourself. No, no, well, now you know Julie is uh, well,
she was my friend before she became my wife. So
I think that that makes a big difference in relationships.
I honestly do. I honestly think if your friends you know,

(54:10):
it makes it a little bit easier that you already
liked the person.

Speaker 6 (54:13):
I think it makes it totally makes it stronger without
a doubt. To have that foundation. That's everything I think.

Speaker 3 (54:23):
So God bless my wife. I love you. Twenty eight years,
married together for thirty one, three beautiful, healthy kids. I'm
just telling everybody that David and MICHAELA flew home from
Florida and we'll do something today. I don't know you've
got an agenda for us what we're doing. You're gonna
go buy some steaks and lobster tails. You can do

(54:45):
something nice for your father. I have no agenda.

Speaker 6 (54:48):
I guess I guess you do now, Yeah, right, lobster.

Speaker 3 (54:52):
Definitely gonna do some lobster and steaks and the girl
gott gott it. Sorry, anniversary with the hell can't take
it with you right.

Speaker 6 (54:58):
In the address.

Speaker 3 (55:01):
Here more than welcome to the cup. You can bring
the stakes. Yeah, I'm going to meet a ring. Well
I'm talking a little bit. You know, what we're starting
to see is that you know I booked the Crown Plaza,
which used to be the Desmond for November twentieth for
Our Dog and Pony and healthcare and long term care

(55:24):
in your retirement years. You know, for most people that
are sixty two, sixty three, they want to retire. What's
what what impedes them, what stops him from retiring? It's healthcare.
The cost of health absolutely. I heard a guy the
other day at the golf course. He was talking about
and he's looking at healthcare right now, I'd like to retire.
He's sixty three, and I over you know, I'm kind

(55:47):
of leaning back in my chair, you know, doing one
of these I'm trying to overhear it a little bit.
He's dropping, is what they call that. Yeah, I call
it these. I call it late laid back in my chair.
But he was saying it was sixteen hundred dollars for
him to get healthcare for him and his wife, and
you know, with a high deductible plan, blah blah blah.
But you know, I'm paying almost nineteen hundred right now

(56:09):
a month, and that includes healthcare and also dental and
vision because you know, when I had to detach retina,
I've got to have that so bottom like it's down
to is that, you know, it's it's a topic that
a lot of people really don't spend enough time on.
You know, it's a topic that I think that individuals
need to have a game plan for health care cost

(56:31):
and long term care if that happens.

Speaker 2 (56:33):
It's which you know, was it?

Speaker 3 (56:34):
Seventy percent of people aged sixty five right now are
going to need some form of care in their lifetime.

Speaker 6 (56:40):
Ill couples, couples. I got to tell you something quick.
I know I've probably told you the story I've been blessed.

Speaker 2 (56:47):
Don't tell me again.

Speaker 6 (56:48):
I'm going to tell you and you're gonna like it.
And no, we've both been around a long time.

Speaker 2 (56:56):
Well you, how are you pointing to me?

Speaker 3 (56:59):
You know, it always sucks when you get a little
bit older and everybody points to you. You around a
long time, you've been in that business life. You don't
look at you don't look the same. I gotta feel
good somehow. I gotta feel some gunness. All right, We're
going to suck.

Speaker 6 (57:15):
Back in the mid eighties, later eighties. You know, I
went to a gentleman that was a client. I don't
know if I can say his name, No, don't say
his name, but he recently passed away. Super super nice,
intelligent man. Everything we're going through today in the healthcare industry,

(57:37):
in the health insurance industry, he called it forty years ago. Now,
back in the day, as you remember, we were able
to sell major medical individual plants and business plan before
the state of New York became a community rated state,
which means you cannot turn down any and due to

(58:00):
health history, which I have no problem with that. But
back in the eighties, he said, these premium they're going
to go through the roof. We're spending too much time
keeping people alive. It was time and money.

Speaker 2 (58:16):
Well, we can open up a business and take care
of that.

Speaker 6 (58:19):
Well, we'll send out coupon.

Speaker 3 (58:26):
I got a boat for you to take a ride
in there. Hey, nick nicky, happy happy hit, happy hit.

Speaker 6 (58:35):
We got another one for you to take a ride
on the river. But you know what I think of him,
off and God bless him. He recently passed away. But
it was amazing how much foresight he saw and the
problems that we're coming into. And the funny thing about
it all, how.

Speaker 3 (58:54):
Much time are you let me just before I forget,
because I'll forget this. How much time are you and
Chris spending in face to face meetings talking about health
insurance and long term care insurance?

Speaker 2 (59:07):
Ballpark?

Speaker 6 (59:08):
Well, the health insurance is definitely a major topic because
it's sort of a deal breaker for some people if
they're going to retire before sixty five or.

Speaker 3 (59:19):
Well.

Speaker 7 (59:19):
Yeah, so I'd say probably almost every day. I mean,
if we're having the initials, if we're having like two
to four appointments a day, i'd say at least one
of them we're bringing it up.

Speaker 2 (59:32):
And yep.

Speaker 7 (59:33):
Like, for example, we just had this conversation with a
younger couple. They're in their mid fifties, and he wants
to retire early. So we mentioned, okay, so one of
your biggest hurdles is going to be getting to that
sixty five age to get on Medicare and as old
as he's currently I think fifty five or fifty.

Speaker 2 (59:53):
Six, well, so he's got a long way to go.

Speaker 7 (59:54):
Yeah, So it's it's and he's like, he had a
list of questions and he's like, that's one of my
top questions on this list is what do I do
for healthcare if I leave work and I got to
get to sixty five before I qualify. He said, you know,
we have someone you can reach out to. But yeah,
that's a huge that's going to be a huge topic
of discussion when that time comes to retire.

Speaker 3 (01:00:16):
Well, it's a it's a conversation for a lot of people,
they can't do it. I mean I can't tell you
how many people that I've met where they basically say,
you know, I can't have another mortgage in my retirement years.
And that's what healthcare has turned into another mortgage for
a lot of people.

Speaker 6 (01:00:31):
Absolutely. And you know the thing is, you know we've
met a lot of people have done very well for themselves.
Maybe the question isn't can they afford it? Maybe they can?
Do they want to pay those kind of bills? Well,
you know it's almost easier for some people.

Speaker 2 (01:00:49):
Yeah, I mean keep working.

Speaker 3 (01:00:51):
The analogy is, you know, do you want to go
flying without a parachute? You know, bottom line it's down
to is that you know, if you have if you
have a major health event, you can basically destroy it
for years. Especially you know my follow lie I always
say Bill went in for a stint. Less than twenty
four hours of alban Amendment was over fifty fifty some

(01:01:14):
thousand dollars for less than twenty four hours when he
went in for a stint. I mean that's big money,
big money. So we're going to talk more about this.
If you have any questions, it's one eight hundred talk WGI.
It's one eight hundred eight two five fifty nine forty
nine talking a little bit today about the risk associated
with healthcare and also long term care. Give us a

(01:01:37):
call if you have any questions or comments.

Speaker 4 (01:01:43):
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. With your five years out or just getting serious,
Now is the time. Don't put it off. Visit rpgretire

(01:02:03):
dot com or call eight eight eight five eight zero
nineteen nineteen to schedule your consultation today. Start early, retire better.

Speaker 3 (01:02:13):
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.

Speaker 2 (01:02:23):
Don't wait for the right moment.

Speaker 3 (01:02:25):
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. Eighty eight eight five eight
zero one nine one nine. That's eight eight eight five
eight zero one nine nine, and your future will thank you.

Speaker 5 (01:02:42):
Bali 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 Dwires donate

(01:03:05):
eleven dollars a month to Tunnel to Towers 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

(01:03:26):
over time thanks to 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
five eight zero one nine one nine. That's eighty eight
five eat zero nine one nine for a free consultation.

Speaker 2 (01:03:48):
All right, we are back.

Speaker 3 (01:03:51):
I'm here with my son Christopher William and of course
Chris McCarthy, a special k And what do they call you?

Speaker 6 (01:03:57):
Not so special?

Speaker 3 (01:03:59):
Not so special? I don't think anyone is called that
is correct at list. It calls them that that's so special.
Maybe maybe yeah, uh, you know, thank you guys for
attending my whole office. All the staff showed up with
no exception, so it was very nice that everybody was

(01:04:21):
there last night. It was a nice time. It was
a great time, had a good time. And as I said,
today's my anniversary. You're bringing stakes. I like pill A,
me on and.

Speaker 6 (01:04:31):
H you could like them all you want.

Speaker 2 (01:04:37):
Uh, getting back to business here.

Speaker 3 (01:04:40):
You know. One of the things that we try to
do over and over again existing policies that people have
life insurance policies, annuities. A lot of people say, should
I get rid of it? Should I just cash this out?
I'm in the camp that you should never cash out
insurance ever, unless you've got option number two because you're
never as young as you were and you never I
have the ability to get it as cheap as you did.

(01:05:03):
But it does make a lot of sense, Chris to
do some of these ten thirty five exchanges where you
take old policies. We just did it for a couple,
No ten, We just we just did We just did
a We just did a ten thirty five for a
couple that was significant. I mean basically the velocity that

(01:05:24):
they got on that money. It went from an annuity
into the linked benefit. You know, they're they're basically spending
the annuity down in order to get the protection that
they need at this stage of your life. And it
was like four or five times more protection than the
pool of money. It was like two hundred and fifty
three hundred thousand dollars and they got over a million

(01:05:45):
dollars of protection that both of them can use.

Speaker 6 (01:05:49):
I know, both beautiful, the Florida couple, you know, I mean,
there's that beautiful thing. And I'm really excited about this seminar. Yeah,
that was going to happen. I think it's going to
be every bit as jam packed with people is what
we have with lou.

Speaker 3 (01:06:06):
Well, think about it, what's the what's the greatest risk
for people right now? And if they've got enough money
in order to retire, what's the.

Speaker 2 (01:06:13):
Risk ending up in a nursing home?

Speaker 3 (01:06:16):
Yeah, Bullsey, Yeah, it's a health event, that's right.

Speaker 2 (01:06:21):
You know.

Speaker 3 (01:06:22):
And nobody runs to go into a nursing home. No,
you know, I can't wait to get to the door
in order to get in there. Everybody wants to do
what stay home? So you know, we've got a couple
right now that are spending well, she just passed.

Speaker 2 (01:06:35):
I forgot.

Speaker 3 (01:06:36):
I forgot that she just passed. Lisa told me that
she just passed. This past week she was spending forty
thousand dollars a month, forty thousand dollars a month for
home care for two aids twenty four to seven, three
sixty five.

Speaker 6 (01:06:55):
It's staggered. It is absolutely staggering. And the thing is,
you know, everybody has a plan. People who don't have
a plan still have a plan. Yeah, And well it's easy.
It's the old saying it's easy to do nothing. That's right.

Speaker 3 (01:07:09):
That's the easiest plan. Procrastination and basically doing nothing. But
the thing is, our job is not to sit there
and tell people and pat him on the head and
just say that's okay, because you know, the bottom Mike
gets down to is that you know it's important for
you to have. You know, Julie was a caregiver. You
know that for six and a half years. Yep, my wife.
So I know what it's like for a caregiver, and

(01:07:31):
I know what's the stress that it puts on a family.
And if you want that plan, God bless you. But
I pity the poor person that's becoming the caregiver for
mom and dad or whoever else.

Speaker 6 (01:07:44):
I'll tell you. I also think when people sit back,
we've talked to a lot of great people and they've
become very successful. They've accumulated a lot of wealth. Well,
most people that do know how to, you know, take
care of risk. They manage risk, they hedge risk. And
those people that know how to do it and do

(01:08:05):
it well have become experiencely successful in the long term
care business. It's the same thing. Yeah, you know, if
you don't go without insuring your home, or your car
or your life, especially when you're a young family member.
You need to take care of your your spouse and
your children and so on and so forth. And I

(01:08:28):
love how insurance evolves, because we talk about it all
the time. If you're a young couple, by Tim, you
always say about your own personal situation, David, you should
have gotten two million dollars a life insurance, not half
a mil.

Speaker 3 (01:08:46):
Well, when I got the five hundred thousand dollars, I
thought it was more than adequate enough in order for
me to protect my family. It was nothing right, I mean,
if something had happened to me, you know, between the kids,
the house, the expenses. You know, if she can four
or five percent, if you put it in a conservative investment,
she's going to live on twenty five thousand dollars Julie, right,
the peanuts, you know, in today's world. So I always

(01:09:10):
tell the young people today is that when you're young
and you're insurable, now you've got to justify the reason
why you're doing it. You know, you can't just say
I want a five million dollar policy. You got to
you know, the insurance department is going to say, why
are you doing this? What's the purpose of this?

Speaker 2 (01:09:23):
Now?

Speaker 3 (01:09:23):
I don't know. You know, I don't do a lot
of term insurance for young people. It's not our business.
But for like my son, I'd say to him, go
get yourself four or five million dollars of level term
that's convertible, that you can convert it to permanent coverage
or partially convert some of it as you age. Makes
all the sense in the world. He's going to spend

(01:09:44):
a little bit of money, but the long term benefit
is well worth the expense today. Well, but it's hard
to justify that with a young professional.

Speaker 6 (01:09:54):
Oh, I think he gets it. I think he gets
it in its penny on the dollars when you go yeah.

Speaker 7 (01:10:02):
I mean my mindset on it is I would do
like term and just get something, you know, basically as
cheap as possible to get as much coverage as you can.
Like he was saying, like four or five million, if
that's the case. But I don't know if i'd even
get the convertible feature. I mean, I guess because then
you don't have to get reinsured. But like down the line,

(01:10:25):
I would, I would like.

Speaker 3 (01:10:26):
I would if you ever did it, I would insist
that you get that feature because why because things happen
to good people. You know, you get it. You have
a health event, you need that protection, you have children,
you have a wife. You want to make sure that
you've got the ability to protect them. And if you
don't have the conversion feature right or you know which, you.

Speaker 2 (01:10:50):
Can do them.

Speaker 3 (01:10:50):
Now I think I think I'm not too sure if
they're even still available conversion without a medical exam.

Speaker 6 (01:10:56):
Oh, they're out there. The different companies have different guidelines.
They but yeah, and you know what another thing is,
Let's say you took out a five million dollar term.
When you go to convert some day, it doesn't mean
you have to convert the whole thing you might need,
because a beautiful thing is like the seesaw. When you're young,
like yourself, if you're gonna get married, you're gonna have kids.

(01:11:20):
The greatest need is day one for the insurance. But
as you continue to accumulate wealth, so on and so forth,
there's a ship. So the more assets you accumulate, your
dependence on the insurance is going to go down. Then, ultimately,
how many times do we have clients coming into appointment

(01:11:42):
that might have a year, a year and a half,
two years till they retire. They're waiting for that pension,
that finish line. All they care about is getting to
the finish line. And then they take a look at
I don't have enough money. I don't have enough insurance
to get me to the line. Yeah, because I don't
want to leave my spouse high and dry, right would

(01:12:05):
maybe a quarter and I don't get to collect on
the pension because I'm gone, You know.

Speaker 2 (01:12:11):
I had that situation.

Speaker 3 (01:12:12):
I don't know if I've talked about this on the radio,
probably maybe too many times, but I'll say it again.
I had a friend of mine that I went to
high school with that ended here, listened to me on
the radio, and he was a state retiree, going to
be a state retiree. I should emphasize that going to
be a state retire He had four or five years left.
He was going to have about eighty thousand dollars a
year in pension benefit. And he came in and he

(01:12:33):
talked to me, and I said, listen, you're a great hit.
You got you know this pension, you got social Security.
Your wife's got a little bit of money here. I said,
you know, you guys are going to you know, live.
I say, your risk right now, if you don't get
to the finish line, all she gets is three time
your salary. Let's say he was making one hundred grand. Well,
you know he's probably making more than that, but but

(01:12:53):
he would have got like, say, three hundred thousand dollars
in death benefit. Well, he died. Make a long story short.
He listened to me and I said, listen, get yourself
some life insurance a couple million dollars and basically you'll
put your wife in a good spot that she doesn't
have to worry about, you know, her financial security. So
he was up at the campsite, got on his golf cart,

(01:13:16):
said I'll be back. What time are you going to
have dinner. I'm due little fishing. Well, dinner came, but
he didn't. He died, and still to the stays, she
thinks we walk on water because basically we'll put them
in a position. Now, he didn't like what I said, Tom,
you got to go out and buy term insurance. But
the thing is is that by doing that, at least

(01:13:37):
you have a very affordable, affordable policy. He was in
his fifties, late fifties. Yeah, I think he was in
his late fifties because he was going to retire before
sixty two because he had had enough years with the
state and he got health of course, he had his
health insurance benefits, which was a huge one for him

(01:13:58):
and his wife. So you know, the thing is our job.
I met with a great gentleman just recently, who's in
that meeting? Both you guys are in the meeting. It
took me about five minutes to basically say to him, yes,
you guys were in that meeting. Yeah, okay, we were there. Well,
it doesn't take me along to basically get to the
bottom line, you know, after doing it for forty three years, right,

(01:14:21):
you know, I know what the problem is when you
see people that are not even addressing a lot of
the stuff that they need to address because the financial
advisor is only focused on one thing, what managing the money. Well,
that's only one piece of the puzzle. We say that
all the time. You know, if you look at your
overall retirement plan, you've got multiple pieces of the puzzle

(01:14:42):
that's going to give you the picture. Right, If you're
only looking at the asset management side and not talking
about long term care or legacy planning or how to
protect your estate if there is a health event, right,
you're doing yourself an injustice in your family and an injustice.

Speaker 6 (01:14:56):
I remember we talking to the same gentleman, and this
still blows me away.

Speaker 3 (01:15:02):
The same guy that we're talking about. Yeah, what after
after I left? Yeah, you might have even been there.
I think he was still there because we were talking
about certain assets could have been should have been put
in the trust, right, but the could advise us said well,
you don't want to do that because the algorithm. Yeah,

(01:15:24):
And I'm sitting there, I'm going, how in God's name
does the algorithm make any difference?

Speaker 6 (01:15:32):
Who owned that investment?

Speaker 2 (01:15:34):
Yeah?

Speaker 7 (01:15:34):
I remember this he was, And the thing was it's
he had he'd been retired for years and he hadn't
even utilized these accounts yet, right, So he's like, I'm
not even drawn from any of these accounts. So I'm like,
what is this algorithm he's talking about. Then you're living
off your pension and social Security comfortably, and you got
all these money and got all this money in these accounts,

(01:15:55):
and he's telling you not to put this one account
in a trust. You're not reliant on it. So what
is this album giving you mean? In the investment?

Speaker 3 (01:16:04):
I think everybody has their own way of doing things,
But what I've found with retirement planning, it's not just
managing money. Oh no, that's a big misconception. Everybody worries
about the pool of money. That's only one piece of
the puzzle, and that's why you need what planning planning.

(01:16:27):
All right, we got to take our final break. I
got the bottom of the hour. We got some news coming.
Dave Copac here with Chris and Chris.

Speaker 2 (01:16:38):
All right, we are back.

Speaker 3 (01:16:47):
I'm Dave Kopek. We are the Retirement Planning Group. We
have multiple locations now in New York and we use
the Regis Corporation. When we're outside of New York. It's
a executive suite are each So if you're in Florida,
we need to see a face to face in an office,
we utilize that company. But no matter where you are, boat, train, car, whatever, airplane, canoe, scooter,

(01:17:18):
we'll get to you. For the love of God, we'll
get to you. We will one way or the other,
one way or the other. We're just talking.

Speaker 2 (01:17:31):
You know.

Speaker 3 (01:17:31):
There's one of the things I talked a little bit
about today is rebalancing an acid allocation. There's been unbelievable
gains in portfolios with stock positions, and you want to
talk a little bit about that, Chris, because that's one
of the things that we're starting to see where they're
way out of whack as far as the percentage of
their wealth is in one or two particular stocks.

Speaker 7 (01:17:52):
Yeah, there's been a few instances recently where we we
have these people come in and you know, they're bounce rollover,
and we ask them what the game plan was with
the account or what, you know, what the mindset was
with the investments, and they're like, oh, you know, we're
we're more balanced. You know, we're at about a sixty forty.
We got some individual stocks in here, or you know,

(01:18:16):
we're about in seventy thirty. Whatever their allocation ended up being.
You know, those individual stocks or those those stock positions
that are in technology specifically, have really run over the
last three years here, since twenty twenty two, So their
portfolio is maybe not sixty forty anymore. Maybe it's bumped

(01:18:37):
to seventy thirty or eighty twenty as far as the
equity to bond ratio. So they have a lot more
risk associated with their portfolio if the market were to
sell off. So when we put it through our software system,
risk aalize, you know, we use that all the time
as far as gauging model portfolios. We just see like, hey,

(01:18:59):
you know, you're you know, you said you're about you know,
sixty forty. Well you've kind of ran up to about
seventy thirty. Now do you want us to rebalance your
back down so you're take some of these gains and
reposition it. Uh, while the market's you know, still at
an all time high. And that's you know a lot
of the conversations we've been having and and how do
we divest out of a stock, you know, like one

(01:19:23):
of these mag seven stocks, if they're individual stock focused,
that's just really run you know, hundreds of percents over
the last three years. And with this you know technology
wave we've seen in an adoption of AI and all
these microchips, these companies are really growing at you know,
insane multiples to where some of these people they have

(01:19:46):
a you know, a emotional tie to the stock. It's
done wonders for them, so they're like, why would I
sell it? But it's it's it's just it's a huge
part of your portfolio now to where if it were
to sell off at any point in time, you're gonna
hit you know, huge losses in the account. So it's
divesting out of that and then kind of rebalancing it
throughout other areas of the market that maybe they were

(01:20:07):
a little underweight on that still look good and just
you know, getting a more balanced balance. Look in the portfolio.

Speaker 2 (01:20:14):
There's the index what do they call it? Index?

Speaker 7 (01:20:21):
It's still direct indexing dirrect direct investing for nine non
qualified accounts, non qualified accounts, which a lot of people
are really.

Speaker 3 (01:20:30):
Pretty happy with. But that's kind of a long play.
It's not a short term fix, right. But there are
solutions out there. But they trade. They trade very aggressively,
don't they. They trade every day.

Speaker 7 (01:20:44):
No, no, so there's no different different direct indexing indexing
platforms do different timeframes, so some people try and capture
losses weekly. I think the most effective one is monthly.
You know, weekli is a little much. If if you're
going in monthly and you're owning like the under lying
SMP five hundred index, you know, by the end of
the month, you're probably gonna have some positions that are down,

(01:21:05):
But every week you're gonna have positions that are you know, fluctuating.
I think weekly is a little a little aggressive, but monthly.
You know, there's been success stories with it. You know,
there's people who have captured a lot of losses while
they're still owning the underlying S and P five hundred
index and over all their portfolios up you know, year
to date thirteen percent, you know, or whatever we're at

(01:21:27):
right now, and they've captured you know, maybe one hundred
thousand dollars in losses while doing it. So you're offsetting that,
you know, huge capital gain in whatever individual stock you've
you've grown, while still getting growth from the account. So
it's it's pretty it's a pretty interesting concept.

Speaker 6 (01:21:44):
I love all these new investment strategies. I think they're fascinating.

Speaker 3 (01:21:48):
Well, I think what's happening is that, you know, we've
we've we've seen the maturity of investment products that have
really been driven by the boomer generation. You remember the
book I remember at Kevin's office, was brought to my
attention by one of the financial advisors, The Pig in
the Python. Did you ever read that book?

Speaker 6 (01:22:11):
I did not.

Speaker 3 (01:22:12):
And what it is if you think about it, the
pig and the python. Think about it. You got this
huge pig going through the python. It's the baby Boom
generation and it's basically a book about how the boomer
generation is going to affect society and also the financial
markets and everything that he talked about. This is years

(01:22:35):
ago when I came out. Everything he talked about came
to mature, to actually exist, and the boomer generation has
really had a major impact not only on the financial
markets but society in general.

Speaker 6 (01:22:50):
And you know, talk about being very very concerning in
the social security market, so on and so on. David.
I know you remember from the first day I came
into the business, social security was going out of business yeap.
And this has been over forty years later. Yeah, I'm
not saying that social Security and many other avenues are

(01:23:14):
not in need of being fixed, because they do well.

Speaker 3 (01:23:18):
Here's the thing that needs to be fixed with Social
Security is that the cola or not the colon, the
taxation of social security benefits. The twenty five and thirty
two has been in existence since I've been in the business.
Twenty five thousand for individual, thirty two thousand for a
joint right. As far as the taxation of social there

(01:23:40):
was never a cola. There was never any inflation adjusting
on it, which has shocked.

Speaker 6 (01:23:44):
Me right right, you know, I think I was back
in the Reagan administration no idea.

Speaker 2 (01:23:50):
But ever since I've been in the business and then
I got out of the business in eighty two, and
for forty three years, it's still the same twenty five
thousand and thirty two thousand.

Speaker 6 (01:24:01):
Yep. I just think, you know, back in the day,
Reagan implemented and I think at the time fifty percent
was the maximum that your Social Security income could be taxable.
Then Clinton, I know, during his administration, I'm pretty certain
he's the one that shot it up to eighty five percent. So,

(01:24:24):
I mean, the thing is baby boomers, definitely, that whole
massive people impacted Social Security dramatically. But I think they're
going to figure it out. I think we're going to
be fine in the long run.

Speaker 7 (01:24:39):
Yeah, if it went away, I feel like there would
be a lot more issues in anarchy with the population
versus just refining it and fine tuning it.

Speaker 6 (01:24:49):
We'll think about how many more people would become dependent
on the government.

Speaker 7 (01:24:54):
Yeah, because I think those seventy percent of people right
now are their only source of income and retirement is
social secure bring up.

Speaker 6 (01:25:01):
And the thing is, so the government really has a
very strong vested interest right to make sure that Social
Security keep pumping.

Speaker 3 (01:25:10):
Right, Listen, it will never go away. Because if social
security went away, there would be anarchy. Why is that
because most people that undersaved for retirement fifty percent of
the population doesn't have anything at all in savings for retirement.
So can you imagine what they should do is that
they should increase the benefit, right as far as when

(01:25:33):
you can receive it from sixty two to sixty five?
No early benefit because of we're all living longer. These
numbers were generated decades ago when life expectancies were much shorter. Right,
So you don't get a benefit to sixty five, right, Yeah,
you keep the widow benefit and all the other stuff,

(01:25:55):
and then you cap it at sixty seven. You know,
I just got my benefit. It's seventy right, I'm actually
getting my first check this one.

Speaker 6 (01:26:04):
God love you.

Speaker 3 (01:26:05):
I can't believe you go. I feel like, you know,
it doesn't seem that long ago that I was like
Ashley's age. I've seemed like, you know, I'm like twenty
years old, twenty one, twenty two. I'm saying to myself,
what the hell happened?

Speaker 6 (01:26:17):
I know, where did time go? And how many times
do we say it? And I know Chris is grabbing
on here. It blew my mind. People always said it
goes faster as you get older, and I'm like, oh,
come on, come.

Speaker 2 (01:26:31):
On, everything I feel like I'm I feel it now.

Speaker 6 (01:26:34):
Yeah.

Speaker 3 (01:26:35):
I mean when my son all the time, my twenty
six year old son says me times going by quick.
I said to him, just wait, you have no idea
how time it goes by quick?

Speaker 6 (01:26:45):
It is.

Speaker 3 (01:26:45):
Wait, you have kids and responsibility and tuition for college,
and you got to go to two or three basketball
games in a volleyball game in one day.

Speaker 6 (01:26:58):
Oh I know, And then we'll plan for Kamar. Give
them a mind inhal I'm gonna need it. But I'll
tell you the I just looked this up.

Speaker 3 (01:27:09):
The Pig and the Python is about the demographic and
the economic metaphor for a significant bulge in a larger,
otherwise stable population, which is what the boomers right. And
it came out in nineteen ninety six, So what you
ought to do. If you haven't read the book, you
should read it because I honestly believe that it really

(01:27:30):
gives you a lot of information, and a lot of
it came to maturity of exactly what was going to
happen and how this segment of the population is not
only going to capitalize on some of these things that
we're talking about, but also how they're going to basically
have some challenges. What's the biggest challenge for the boomers
right now that you would say our generation's, what's our

(01:27:53):
biggest challenge?

Speaker 6 (01:27:55):
I would say healthcare?

Speaker 3 (01:27:57):
Bulls are and that's why November twentieth though, give out
the plug again at the Desmond Healthcare and long Term
Care Planning in your retirement years. It is a topic
specific program. We've had people call and say, hey, Dave
said he's going to have topic specific programs and he
hasn't had. Well, this is it. We're starting this off
this year, November twentieth. I know it's a little late.

(01:28:18):
Wanted to do it sooner, but we've been busy and
it's going to be at the Desmond. If you want
to attend eighty to eight five eat zero one nine,
one nine, and we'd love to have you sit in
and listen. It's not about a sales pitch, no, it's
what it is. This is what's going on. These are
your options. You know, if you want to come in
and have a chat, great, If you don't, great, you're

(01:28:40):
going to be more educated. So again eighty eight five
eight zero one nine nine. Healthcare and long term care
planning in the year twenty and twenty five at the
Desmond November twentieth We'll get some snacks and some refreshments.
No dinners, snacks and refreshments. We'll be right back.

Speaker 4 (01:28:58):
The retirement might feel far off, or maybe it's just
around the corner. Either way, it's never too early to
start planning. The experienced team at Retirement Planning Group makes
the process simple, straightforward and all about you. No pressure,
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(01:29:22):
Visit rpgretire dot com or give them a call at
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your consultation today. That's urpgretire dot com. Your future self well,
thank you.

Speaker 3 (01:29:35):
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Don't leave your future to chance. At the Retirement Planning Group,
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can relax knowing you are prepared. Take action today called
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(01:29:58):
schedule your complementary consul. Your future will say thank you.

Speaker 5 (01:30:03):
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(01:30:23):
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Speaker 3 (01:30:58):
Zero nine and for your complimentary consultation.

Speaker 2 (01:31:11):
All right.

Speaker 3 (01:31:11):
Keep that one ash the rest of them.

Speaker 2 (01:31:17):
Ashley, our engineer is doing a fantastic.

Speaker 6 (01:31:21):
Big time funt double thumbs. You are fantastic. He sounded
like Lawyn's.

Speaker 3 (01:31:29):
When I hang out in the Homptons, this is how
I talk and Muffy, even though I call her Juliet
home down at the Homptons, I call her Muffy.

Speaker 2 (01:31:43):
Muffy and I going on a boat ride. Muffy.

Speaker 6 (01:31:48):
Oh God, don't ask me why. But Lawrence, Well, you
popped in my head the way you were talking with that.
Thank you, Bobby. In the city and they'll hive in Pune.

Speaker 3 (01:32:03):
A lot of people, a lot of the kids today
have no idea who Lauren's walking.

Speaker 6 (01:32:08):
Hells Well, who turned on the bubble machine.

Speaker 2 (01:32:14):
It's just like you know, you say. Ed Sullivan.

Speaker 3 (01:32:19):
Got a really big, big show, remember Ed, Oh my god,
big show. He used to always have arms folded and
look at all the people Jackie Gleeson.

Speaker 6 (01:32:29):
Oh oh he was larger than like, larger than like.
But Ed Sullomon, you look back and all the legend,
the legend, Redile, the doors.

Speaker 3 (01:32:39):
Well, I just think about some of the shows we
used to watch, Red Skeleton. Oh, we used to fight
over the TV I was the clicker when I was
When I was a kid, I was the clicker in
the house. My father would reach over and slap me
in the back of the head. Change the jam.

Speaker 2 (01:32:58):
So I started doing with my kids. He carried on
the tradition.

Speaker 3 (01:33:05):
Even though I had a clicker. I always felt like
I wasn't doing my job. If I walked by my
kids and they weren't ducking, then I wasn't doing I was.
I was doing your job, I was.

Speaker 2 (01:33:14):
I wasn't good. I wasn't doing good parenting.

Speaker 6 (01:33:16):
Oh my god, he's getting saw you know who.

Speaker 3 (01:33:22):
We chuckle every once in a while we talk about it.
David and he was downstairs and they were fighting, and
I must have said to him five times, stop fighting,
stop fighting. I lean to stop fighting. So I went
downstairs in the basement right they were down there in
the playroom, and I got that I had my fishing
poles in the corner. I grabbed my fishing pole and
I said, I was scared of living daylights on him.

(01:33:42):
So I said, if I get a hold of you,
I'm gonna this thing right across your butt and I'm
whipping it in the air. He took off like a rock.
I can still see it run around the yard. He
looked like a deer out.

Speaker 2 (01:33:54):
In the yard. I think my chances out in the yard.

Speaker 6 (01:33:59):
With a fishing.

Speaker 3 (01:34:02):
I wasn't gonna hit him with the fish and fall,
but he knew one thing. I wasn't happy dat. Yeah,
Daddy got attention. Daddy was a coming. Daddy was a coming.

Speaker 6 (01:34:13):
So I'll tell you one and to move on a
bigger and better thing, not better, but bigger thing. One
of my favorite off time comedians back in the day,
Jonathan Winter.

Speaker 2 (01:34:24):
Oh yeah, absolutely, Oh was he off.

Speaker 6 (01:34:27):
The wall or what? And you had to watch, You
had to listen and watch intently because you didn't know
what's coming out of his mouth neck.

Speaker 3 (01:34:35):
And the thing is is that they were funny and
they didn't have filthy language.

Speaker 2 (01:34:40):
Well look at him.

Speaker 3 (01:34:41):
You could sit with your family and watch and laugh
without getting ready to cover the kid's ears because there
was horrific language coming out of there. So that's the
that's the negative today is that the they say the
F word like you know, we we say ice cream.

Speaker 2 (01:34:57):
But whatever.

Speaker 3 (01:34:59):
Julian and I, Julie and I went to uh Las
Vegas and we saw Tim, Tim the tool Man what's
his name.

Speaker 6 (01:35:08):
Alan, Alan.

Speaker 2 (01:35:10):
Terrible?

Speaker 6 (01:35:11):
Oh?

Speaker 3 (01:35:11):
Really, like every other word was the F word. I mean,
we're looking at one another. Even in the audience was like, what.

Speaker 6 (01:35:17):
I didn't I know he would be the F word.

Speaker 3 (01:35:21):
Yeah, was shocking to me, to be honest with you.
We looked at one another. We went out to see
uh Lionel Richie and we went to see him two
shows with Danny and Leslie and they met us there
when they're you know, they flew in from Oklahoma. So
but all right, let's summarize covered a lot of stuff today.

(01:35:43):
You know, I guess what I wanted to overemphasize to
people today is that you know, there's certain things out there.
There's uh pitfalls, there's bumps in the road that you
need to be aware of. Our job is financial advisors
is just not managing money. It's about dealing with the
pitfalls and making sure or at least understand that they're
coming right or might come or might come.

Speaker 6 (01:36:05):
I think the planning aspect that we bring to the table,
you know, we just have a very wide horizon that
we're able to help people see beyond. I'm telling you,
I think this seminar is going to be extremely beneficial
for the people who come because there's going to be

(01:36:27):
a lot of information and the more information you have,
the better you'll be able to plan.

Speaker 2 (01:36:33):
Well.

Speaker 3 (01:36:33):
It's been challenging for Julie and I. I'll be very
honest with you. For Julian and I, it's been very
challenging because at age twenty six, the kids what they're
off your plan right. So with David my Son and
with Christopher my Son, you know, we're trying to figure
out what's the most economical way, you know, to have
good coverage and also be able to put them in
a position where if they need to get care, you know,

(01:36:54):
they're not going to bankrupt themselves. And I'm just shocked
by the disinformation that you get m H. And it's hard.
I think that's why Terry, when she's on we get
so many phone calls afterwards in order for people to
talk to her, because she understands that it's all she does.

(01:37:15):
And in today's world with health care, you can't go
to a generalist. You got to go to a specialist.

Speaker 2 (01:37:20):
I'm telling you agree.

Speaker 6 (01:37:22):
I couldn't agree with you more, especially what I hate
to say, what a mess it is. It isn't that's
part of the end.

Speaker 3 (01:37:31):
You're not saying anything that you know the average consumer
that's out there right now. Talk to Jason, my brother
in law. You know, hard working savers today are going bankrupt.
We're basically just paying their bills for health care and
being able to set some money aside in their four
oh one k.

Speaker 2 (01:37:53):
Right, yep.

Speaker 3 (01:37:54):
I mean, if you're making seventy eighty thousand dollars a
year today and you've got a house, you got kids,
you got taxes, you're trying to put some money away
for your retirement, and you gotta pay for health care,
you're not dancing in the street. That's why I saw
the other day. You can stay home now and do nothing.
And I think New York State just increase the take

(01:38:15):
home benefit eight hundred and sixty nine dollars a week.
I think it's eight sixty nine for unemployment. Yeah, stay
at home doing nothing. And you say, why would somebody
go to work and make a thousand dollars and end
up netting on one thousand dollars. You're gonna net what
six fifty seven hundred after taxes and stuff. Why the
hell would you go to work? And they wonder why

(01:38:35):
people don't go to work and they can't find people.
The hell would you go to work when you get
in eight sixty nine to sit home play tittaly winks
and play games. That's how screwed up things are, you know.
An then you ask why things are screwed up because
the government is creating snowflakes.

Speaker 2 (01:38:50):
Yep, that's what they're doing, in my opinion, my humble opinion.

Speaker 6 (01:38:55):
You know, another thing I'm not looking forward to turning
fifty five is that every year you see the opening moment.
How many times do we hear people how overwhelming it
is this time of the year.

Speaker 2 (01:39:11):
Right now it's going that's why we're having this on
November twenty, right.

Speaker 6 (01:39:14):
And the thing is they've got all these companies, all
these plans. They don't even know where to stop.

Speaker 3 (01:39:19):
Well right now too, with the government shutdown, yep, nobody's
answering the phone right.

Speaker 6 (01:39:26):
Which is causing further chaos.

Speaker 2 (01:39:28):
I'm mad as hell. Where's my check?

Speaker 6 (01:39:30):
Right?

Speaker 2 (01:39:30):
Where's my check? I want that damn check. It's my
Social Security going out.

Speaker 6 (01:39:35):
Yeah, you know, I can honestly say about Terry, she
is one of the greatest referrals I think I've ever
given people a period, professionally or personally. She is a
lovely lady. She's sharped. She takes a lot of the
aggravation out of the whole process.

Speaker 3 (01:39:54):
Well, the thing is is that when you're when you're
out into the marketplace and you're trying to find affordable
and I want to emphasize affordable, you know, you need
to understand that you can't go to one specific company
because then you're not getting the full picture. She's a
broker and she facilitates multiple insurance companies like we do

(01:40:17):
with investments. Even though we clear through Fidelity, we're not
bound by anything. We can go anywhere and do anything
Goldman Sachs, JP, Morgan, you know, Alliance. Wherever we want
to go, we can go. And that's the way if
I'm out in the marketplace and I'm looking for healthcare,
I want to make sure that I'm going just like
long term care, we go to all the insurance companies

(01:40:40):
that basically have policies. Right now, there's only one insurance
company because those are captive agents. That's Northwestern. We can't
get their product right, but anywhere else we can.

Speaker 7 (01:40:54):
Yeah, I think it's you got to have that type
of setup with anything in order to whether it's investments
or health insurance.

Speaker 3 (01:41:03):
So if I go to Leah, I just got the
Sequoya at the Toyota Sequoy. So if I go over
there and say I don't like this car, you know,
as much as I thought I was gonna like it.
You know that Mercedes Benz, I want that Mercedes. Are
they gonna give me the Mercedes? No?

Speaker 6 (01:41:22):
And that's what I love about special Ok. He gives
it to you short, there's no hesitation.

Speaker 3 (01:41:28):
Well, I'll tell you this much. I ended up getting
that Sequoya. I love it. It's a great car. It's
a great car. I had to put a new windshield
in it already because I got hit.

Speaker 2 (01:41:37):
By a rock. I know I got to hit by rock.

Speaker 3 (01:41:40):
But I want to tell our listeners at WKIP down
in the Poughkeepsie area, welcome. You're gonna be listening to
us seven and nine on the weekends. Anything that we're
talking about is of interest to you, you can call
us at eighty eight five eight zero one nine nine
eighty eight five eat zero one nine nine. We're gonna
have a location down there. Hopefully we're gonna be able

(01:42:01):
to button it up this week where we can see
you face to face. And I love the southern tier
of the state. It's beautiful down there.

Speaker 6 (01:42:07):
Oh my god. Yeah, yeah, you take a beautiful ride
on Kaconic.

Speaker 3 (01:42:11):
His girlfriend went to Maris, which I've really didn't known
that much about it. I've driven by it now a
few times being down there. That's a beautiful campus. Yeah,
it is really nice. All the buildings are like stone. Yeah,
beautiful river. I never realized it was that pretty beautiful campus.
If we can be of assistance, we offer a complimentary
consultation at any of our offices. All you have to

(01:42:34):
do is dial that same number eight eight eight five
eight zero one nine one nine. If you won't want
to do a face to face, we can do a
zoom ring central, or just talk to you on the telly.
Remember the telly, the the telly.

Speaker 2 (01:42:49):
Well, see you next week for another retirement planning show.

Speaker 6 (01:42:52):
Right down November twentieth.

Speaker 2 (01:42:54):
Right.

Speaker 7 (01:43:00):
The information or services discussed on this shows for informational
purposes only and is not intended to be personal financial advice.
The investments in services offered BYAS may not be suitable
for all investors.

Speaker 2 (01:43:11):
If you have any doubts as to the merits of
an investment, you should seek advice from an independent financial
abst