Retirement Planning Show

November 1st, 2025.

Episode Transcript

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

Speaker 2 (00:14):
All right, good morning, November one. Doesn't seem possible. Halloween's
over with. We're in the downward trend here, thirty We've

(00:39):
got I think fifty three days something like that, fifty
three days before Santa Claus shows up. It's just hard
to believe. So we're trending down. So when you go
into the store now and you see Santa Claus all
over the place, I guess that's the time of the season.

(00:59):
You know, most of the stuff's been out for at
least a month. And don't forget about the clocks. It'll
be dark again at five o'clock in the afternoon. So
lots of fun. Not my time of year, not my
time of year. So good morning to all. This is

(01:23):
the Retirement Planning Show. I'm Dave Kopek, your host, been
doing it a long time, my forty third year, twenty six,
my twenty six year on radio. So hopefully we're going
to educate you and tell you about some of the
things that are going on. A lot of stuff going on, folks.
I don't have to tell you that there's a lot
of stuff going on. But first and foremost, let me

(01:46):
do a little house keeping here because we're getting a
pretty strong response, and we've extended added more space for
this presentation because we're getting such a positive response. November
twentieth at the Desmond Crown Plaza, six o'clock is registration

(02:09):
six point thirty is our presentation the current healthcare and
long term care crisis. You guys are going to have
sticker shock in a very short period of time with
what's happening with healthcare, and we're going to try to
go through it and have a discussion. It's an educational format.

(02:32):
It's hopefully going to bring a lot of information to
you and the choices that you're going to have to
make pre or post retirement. And of course healthcare is
critical for everybody, but also what's happening with long term

(02:53):
care is kind of astronomical, which we'll talk a little
bit about today. Cost of medical, health care, long term care,
home care is through the roof. I mentioned the reason
why I did this, to be perfectly honest with you,
is that we had a client that was receiving twenty

(03:16):
four seven three sixty five care in her home and
some of the times that she was there because of transferring,
bathing and dressing, they needed two caregivers now one. And
when it all was added up as far as her
expenses and to pay for caregiving because she wanted to

(03:39):
stay at home, the ticket the price for this was
forty thousand dollars a month. So it was a shock
to me. And I think one of the things that
we're going to try to talk a little bit about
today is some of the things that you're going to
face in the very near future is he is healthcare

(04:03):
unaffordable for you? And what do you do in order
to facilitate paying for it? My son's here this morning.
Fell out of bed? How do you feel right now?
Pretty good? I wouldn't say it fell out of bed.
In a fall out of bed. What times you get
out of bed? I'm going to say that you probably

(04:24):
got out of bed at quarter quarter to seven because
you live in Latham.

Speaker 3 (04:28):
I got a bed at yeah, probably around six forty
six and jumped up.

Speaker 2 (04:32):
So you did a lot of research, did a lot
of prep for the show.

Speaker 3 (04:35):
Right, you can read the night before, can't you?

Speaker 4 (04:38):
Okay?

Speaker 2 (04:39):
I know you weren't you were over at the your
friend's house trick or treating? No, but everybody had fun.
What times you get back to your house early? Did
you have any trick or treaters at your house? No?
Guess how many we had again this year? Zero zero.
I've lived in my house now holds David seven twenty

(05:02):
seven years. I've lived in my house and I haven't
had one trigger treat here now, one not even not one,
not one. We didn't have one person knock on the
door and say trick or treat. Mom went out and
bought some candy.

Speaker 3 (05:15):
And well, even driving around, I feel like a lot
of them now do things like I don't know, there
wasn't a lot of trigger treaters we were driving around.

Speaker 2 (05:26):
I had a woman tell me the other day that
everybody goes into her neighborhood. They parked their cars and
they drive all over where John lives up by the
golf course, the golf course, and they go in there
and you know, it's like an event. You know, they
got two hundred and some out of houses that they

(05:48):
can walk around the blocks. They walk around with these
huge bags of candy, and they're done so.

Speaker 3 (05:57):
Smart. They used to do the same thing.

Speaker 2 (06:00):
But we're going to be talking a little bit today
again about what's happening with healthcare and the affordability crisis
and why is it so expensive? What can you do
the challenges that you're going to face pre and post retirement,
And as we're all quite well aware, when the premiums

(06:25):
come in, it's sticker shock. It was sticker shock for
me when my wife retired, and it's sticker shocked now
when I hear what people are paying, and also when
I hear all the statistics that are out there. You
know a significant portion of adults are struggling to afford

(06:48):
healthcare costs, and I are having problems paying for health care.
So I know that this is not about return on
investment and acid allocation and how much money are you
going to make in your portfolio. This is the reality
is that healthcare spending in the United States right now
is going through the roof, and I have no idea

(07:11):
where this is going to end. I mean, this is
one of the things that supposedly technically is holding up
negotiations in Washington, DC why there's no budget down there.
But you know, my whole feeling is that if you're
concerned about your ability to pay for medical bills, and

(07:31):
you're worried about how you're going to fund it. You know,
Fidelity comes out every year with a report as far
as how much a sixty five year old will need
in order to pay for health care out of pocket
expenses in their retirement years, and every year goes up,
and I think this year was one hundred and seventy
two thousand dollars per individual, So one seventy two times

(07:57):
two for Osmond and wife. That's a whole hell of
a lot of money that you're going to have to
be out of pocket in order to pay for future
medical expenses. You hear much about this, Chris. Are people
talking to you about this in your meetings? Yeah?

Speaker 3 (08:11):
I think the uh, the overall consensus is that a
lot of people are trying to just get to sixty
five until they retire so they can hit that, you know,
Medicare age. But for the folks who are retiring early,
it's like one of the number one questions on their
list that they bring in is what do I do

(08:32):
for healthcare now for the next If they want to
go at sixty two, it's what do I do for
the next three years. If they want to go at
sixty it's obviously five, and then you know, earlier and earlier,
it's just a longer gap to fill until you reach
that age. So that is one of the biggest concerns
I'd say for most people who come in and don't
necessarily want to work till sixty five they've had enough.

(08:55):
It's how do I now bridge this healthcare cost and
put it on myself for the next you know, five, ten,
sometimes fifteen years until I hit that sixty five age.
And like you said, it's a lot. You know, there's
a lot of different Well.

Speaker 2 (09:12):
It's a lot. Not only is it a lot, but
the thing is for a lot of people, all the
additional expenses that are going up is also But we're
going to talk about this in detail. Don't forget November twentieth,
Desmond Crown Plaza Registrations at six. Presentation starts at six thirty.
We're gonna be talking about the current healthcare launching care crisis.

(09:32):
Call my office eighty eight five eight zero one nine
one nine eighty eight five eight zero one nine one
nine if you'd like to attend. You've added more seats,
we'll be right.

Speaker 4 (09:42):
Back the.

Speaker 5 (09:48):
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,
straight for and all about you. No pressure, just smart
advice to help you feel confident about what's next. Visit
rpgretire dot com or give them a call at eight

(10:09):
eight eight five eight zero nineteen nineteen to schedule your
consultation today. That's rpgretired dot com. Your future self well,
thank you.

Speaker 2 (10:19):
Retirement is in a Sunday thing. It's a now thing.
Whether you're just starting out or nearing the finish line,
the best time to build your retirement plan is today.
Don't wait for the right moment. Let's create a plan
that works for you. Secure your future and the freedom
that comes with it. Call my office today and take action.

(10:39):
Eighty eight eight five eight zero one nine one nine.
That's eight eight eight five eid zero one nine one nine,
and your future will thank you.

Speaker 6 (10:48):
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, 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.

(11:10):
Show your support. Donate eleven dollars a month at T
two t dot org. That's T the number two T
dot org. Your retirement future. Are you dreaming of a comfortable,
financially secure retirement. It's closer than you think. The best
time to start planning was yesterday. The second best time
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(11:31):
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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 eight zero nine one nine for a free consultation.

(11:55):
All right, we're back November one. Get your Christmas list out.
Hoho will be here before you know it. Another year,
twenty and twenty five will be gone. Twenty and twenty six,
twenty six years after that magical date where your turn

(12:16):
year two thousand, where you thought the hell was going
to break loose. It's hard to believe twenty six years
have gone by since then, But as we're all quite
well aware, time is fleeting goes by way too quick.
So it also means that it's time for you to
start thinking a little bit about where you are in

(12:36):
the year twenty and twenty five, especially if you're thinking
about retiring in the very near future. You know, as
I say over and over again, you know, if you
don't have a plan any destination, we'll do. We talk
about this all the time.

Speaker 2 (12:51):
You know. We try to our open architecture approach. We
try to bring the best ideas, concepts, investment platform to
the table because we don't have an ax to grind.
You don't have no proprietary products. And that was one
of the things that I wanted to do when I
started the Retirement Planning Group is and I never wanted
somebody banging me on the head. You know that I

(13:13):
had to sell certain amount of products in order to
justify my existence sitting in their seat, because that's what
happens with a lot of investment advisory firms were used
to I don't know if it still does, you know,
if X y Z's on the table and they're showing
the X y Z products. There's probably a good chance
that's because they're making more money doing it that way. So,

(13:34):
you know, one of the things that we try to
do is when we go out into the marketplace and
we're in a situation right now, you know, Chris, we
were looking at that platform. I won't mention the name
of the platform or who we were looking at for,
and we wanted the ability to help people manage their
assets during in their four O one case. And you know,

(13:54):
it just didn't work out because the expense was not
worth you know, the cost.

Speaker 3 (14:00):
Yeah, it was very very expensive, but it didn't make sense.
I mean, if you're taking someone's money out of their
Form one K that's not being charged. I think the
fees were just when you add it all up, way
too much, way.

Speaker 2 (14:13):
Too muche, way too much. So, you know, what we're
going to talk a little bit about today are the
bumps in the road that you're going to face during
your pre and post retirement years. Especially today, there's so
much responsibility to you as far as your responsibility managing assets,

(14:34):
taking the responsibility of healthcare, et cetera. And where do
you go you know, where do you get the answers
because it is very complicated. You know, We've got a
good friend of ours, used to be one of our
interns that works for one of the major investment banking
firms in a family office, and I always have a

(14:54):
lot I actually had lunch with him, Chris, with his
father the other day at my Gregor country Club and
we were talking about, you know, what's happening in the
marketplace right now. There's a lot of uncertainty right now.
A lot of people are pretty concerned about what's going on.
And I think, you know, as much as we're not
coming to a compromise in Washington, you know, I think

(15:16):
people are really starting to think, you know, like what,
what's the impact of this is going to be?

Speaker 3 (15:21):
Yeah, I mean, I guess. But the also, the thing
you got to remember is that fear sells. None of
the media outlets are really going to talk about what's
going great. They're only going to talk about what what's
making them headlines and what's going to keep people tuning in.
And that's unfortunately, fear and fear and greed. Yeah, so

(15:42):
we talk about all the time. The two things that
motivate people is fear and greed, and bottom line gets
down to is that you know, it's easy to procrastinate,
it's hard to motivate sometimes. Yeah, and nine times out
of ten you turn the TV on, it's negative. So
they're not going to really talk about what's really going
on behind the scenes. But I mean things are shifting,

(16:04):
I think, you know, with all this technology and AI now,
and we're starting to see that. But you know, the
Nasdaq ended up another It was up on the month
four point seven percent. I believe the month just ended,
So yeah, it was up four point seven in the month.
So it's another good month in the market. And all
these tech companies are coming out with their earnings like Amazon.

(16:27):
Amazon just did really well and we saw that end
of the week. But there's a lot of a lot
of things going on, and you're starting to start start
to see the layoffs in the in these mag seven
companies because they're really starting to develop these AI programs
and platforms that they're building out. And Amazon, along with

(16:50):
their earnings, just said they're gonna they're kickstarting a plan
to cut thirty thousand jobs. So where are those thirty thousand.
There's probably a lot of like man it doesn't management. No,
not management, I would say manu like more like.

Speaker 2 (17:06):
Warehouse really because of automation.

Speaker 3 (17:09):
Probably, Yeah, it didn't specify, but if I had to
assume that would be the case. And then Meta, same
thing is followed by Meta who recently cut six hundred
jobs in its AI division, and then ups Target and
General Motors also announced big scale job cuts. So as
they as these companies continuously pump money into these AI

(17:33):
development programs, they're going to continue to shed workers. That's
just the name of the game. It's they're going to
become more efficient in areas where they don't need as
many employees. So that could be a concern. You know,
the job numbers are probably gonna slip, and that may
be a driving factor for the market to sell off
or turnover on itself when these job numbers come out.

(17:53):
But if if it really is just trading on these
earnings numbers that keep getting pumped out from these tech companies,
they're only getting They're beaten earnings every time. Like in
Vidia now is a five trillion dollar company, followed by
Apple and Google who are now like four trillion dollar companies,

(18:14):
and Microsoft. It's just crazy corporate profitability is resilient, yeah,
in the US economy. And the thing is is that
as the Fed, you know, this past week, we did
you know, I don't even talk about it because it
was already baked in the cake. You know, the twenty
five basis points came. You know, it was I think
a non event. I think the market sold off the

(18:35):
day that they actually announced it a little bit, nothing major.

Speaker 2 (18:40):
I mean, for the week, the market was positive for
three major indices that we pretty much watch. You know,
the doll was up eighty basis points, SMP was up
about the same, and then Nasdaq was up two point two.
But you know, there's a lot of people worried about
a bubble.

Speaker 3 (18:56):
Yeah, that word's getting thrown around a lot.

Speaker 2 (18:58):
The bubble. As far as you know, you've got a
lot of you've got a lot of companies that are
really trading at pretty high pe ratios. But you know,
when you look at the numbers and you see what
Wall Street's looking for, you know, bottom line gets down
to is that, you know, this economic slowdown that they're
talking about is going to have some effect on GDP.

(19:20):
But all to me, you know, what's you know, Larry Kudlow,
what is the mother's milk of Wall Street corporate earnings. Yeah,
the mag seven corporate earnings. And it's it's across the board.
So you look at some of these stocks that have
taken off. I know you're you're big. You're a big
believer in energy right now.

Speaker 3 (19:40):
I do like energy a lot because with all this
AI development, they're going to have to restructure pretty much
everything on an energy standpoint, as far as infrastructure, nuclear energy.
They're testing these many nuclear reactor sites now. So everyone's
talking about the AI wave, but along with that goes

(20:02):
hand in hand with the AI wave is a nuclear
wave of energy coming back because there's nothing else that's
going to power these data centers.

Speaker 2 (20:10):
And Washington said is that they're going to green light it.
They're going to put this on the fast track. That's
the slow track.

Speaker 3 (20:15):
Yeah, there's government funding going out to some of these
companies to test them and build them out. There's a
lot going on in that sector already too. But that's
why it's there hand in hand because AI, these data
centers are going to draw so much power that there's
the only energy source that could power it is nuclear.

(20:36):
Because it's got to be twenty four to seven round
the clock, you know, sourced.

Speaker 2 (20:41):
Yeah, and you know there's euphoria and a lot of arenas,
and like I said, you know, who the hell knows.
I mean, I'm not a big believer in market timing.
I never have been. But you know, there is a
question out there is if the AI continues to grow,
is it a bubble? And you know, Powell when he

(21:02):
came out with his statement this week, he pushed back
in the idea when asked uh after the FED meeting,
highlighting robust real earnings and business models across all the
players in contrast that the dot com bubble. You know,
as far as you know, we're stocks were trading it
a hundred times nothing, you know, like pennies as far

(21:25):
as earnings during the dot com bubble. So you know,
there's still strong fundamentals. I'm a big believer. I've always
been a big believer earnings and assets and strong ballance sheets, right,
and so they drive, they drive, and they justify the
pricing of some of these securities.

Speaker 3 (21:45):
Yeah, and that's the difference. And that's what we Fidelity
told us at that conference. Is is it a bubble?
Is it? You know? No, I don't know. You know
who knows obviously what's going to happen down the line.
But it's different than the dot com because these companies
ai IS is light years ahead of what the Internet

(22:05):
was when the Internet came out and the capabilities it has.
So in these like you were saying that there's hard
data behind these companies and their earnings, and you know
how they're performing. So if they're continuously beating earnings, there's
no reason to think that it's not going to continue.

(22:27):
But you know, when you're all time highs, all time highs,
all time highs every other week, you know the well,
you know the thing is thinking.

Speaker 2 (22:34):
We always say when you know, it never hurts, especially
in qualified plants. If you harbor some gains in your
qualified plans, your I raised Form one k's, you know,
whatever it may be, you're wroth. You're not going to
have a tax consequence, So it never hurts in order
to basically pair back and harvest some gains. It's no
different to your going out farming. Right, You're gonna go out,

(22:54):
you're gonna harvest some of the crop and you're going
to basically put it in the silo or put it
up in the barn, or you know, sell it at market,
and it's no different with your portfolio. You can do
the same thing. You know, you don't have to stay
fully invested at all times in equity or fixed income. Diversify,
you know, basically go through and prune it up, you know,

(23:15):
do a little harvesting and then you know, get in
a position that you feel comfortable with. But bottom line,
you know, equities have done so well. You know, it's
hard for people. People come in and say, Jesus, I'm
going so you know, I'm doing so good. I just
had somebody the other night, the couple clients of ours.
You know, he's got over a million dollar portfolio. That's

(23:37):
just the play account, and that you know, most of
it is made up of what one stock because it's
done so well. A third yeah, third position. One position
is made made up that you know. But bottom line
is is that you know what old Warren Buffett, you
don't get hurt by taking a profit. Right, You're gonna

(23:58):
have to pay some tax, but that's all right. Diversify,
don't get overweighted too much to anyone particular equity, and
make sure you're diversified, especially if you're getting close to
that day that you say take this job and I'll
see a later pal, right, because then you got to
start thinking a little bit differently and how you want
to manage your assets. We're going to come back, We're
going to talk. We're here live. You want to participate.

(24:20):
It's one eight hundred WGY five fifty ninety nine and
we are here on the weekends from seven until nine.
I want to say good morning to our listeners down
in the Pockkeepsie region. As a matter of fact, my engineer,
that's true, she grew up. So we'll be right back
after this quick message. All right, we're back. Good morning November.

(25:00):
First clocks go back tonight. Dark tomorrow at five o'clock
in the afternoon. Leaves are falling off the trees. It's
getting cold, rainy, overcast, Florida. Here I come. I got
a buddy man that sent me a message the other

(25:20):
day sitting on the beach with his wife saying where
are you? Is it? Hold up, I'll be there soon.
But this is a retirement planning show. I'm Dave Kopek.
This is my forty third year to business. Hard to believe,
twenty six year now in radio. So hopefully we're gonna

(25:41):
educate you a little bit about some of the things
that are going on to our listeners. Down a wkip
down a Syracuse, not Syracuse, Poughkeepsie run another station out Syracuse.
I want to say good morning to you. We're new
to your station. We simulcast from here in Albany, but
we have a Silead office down there. If you want
to meet with us face to face, more than happy

(26:03):
to sit down and have a chat with you about
what we can do for pre and post retirement planning.
I asked, I sent you a message last night. I
don't know if you saw it. I don't think you
answered to it. McCarthy.

Speaker 3 (26:13):
Did I leave you on red?

Speaker 7 (26:17):
Oh?

Speaker 2 (26:18):
Who hell knows? But I think you when you see
your father's messages, you avoid it. You just delete it. No,
it's usually group chats. So we you guys had a
Zoom meeting yesterday. Was that with an existing client or perspective?

Speaker 3 (26:33):
No? No, that was an initial So.

Speaker 2 (26:35):
That was initial. So tell me how it went. Great,
it's great, she because that's that's our future, you know.

Speaker 3 (26:43):
Yeah, it was fine. We we always overemphasize we have
the ability to do it micro. So was that was
that Zoom no teams.

Speaker 2 (26:51):
Teams. Yeah, so people have the ability to see us
and go over their personal situation by what what I
know that we've got Zoom and we got rings Central,
and then we have the one you just said.

Speaker 3 (27:03):
No, we just yeah, they do all they all do
the same thing, but we use teams Microsoft teams. Now
we don't have Zoom. FYI if the you.

Speaker 2 (27:12):
Know I'm a dinosaurs Doom, yeah, Zoom.

Speaker 3 (27:16):
They're just the one that made it famous.

Speaker 2 (27:18):
Okay, So tell me a little about it because it
intrigues me because for me as a dinosaur that hates
computers and gadgets and gizmos. Uh, it's something I need
to get up to speed on because this is what
people wants. Matter of fact, the data, the data that
we saw in Boston. Some people that's all they do. Yeah, well,

(27:38):
all of their meetings are over the internet. They're not
face to face, right. Well, people are busy. That's what
happened with her.

Speaker 3 (27:44):
She's she had something come up they were doing, like
a costume party for Halloween or something at work. But
she ended up just shooting us a call middle of
the day and saying, hey, I.

Speaker 2 (27:56):
Still want to do it, but I want to do
it right.

Speaker 3 (27:58):
I still want to do it, but I don't think
I'm gonna be able to make it to the office
in time. I can shoot because she's up in Lake
George area. So she's like, I can make it home
by two o'clock, So can you send me a video
conference link and we can just I can do it
right from my computer. Nice.

Speaker 2 (28:17):
So that's what we did. What's good about it? What's
bad about it? Operable to a face to face. What's
good about it is it's convenient. You don't get a
nice loaf of cinnamon bread. No, no treats, no treats.
If they're on that poor woman that brought that bread in,
I just want to let her know. I never had
one piece of both those loaves of bread, not one,

(28:40):
not one slice.

Speaker 3 (28:41):
I only had one.

Speaker 2 (28:42):
I didn't get a sniff.

Speaker 3 (28:43):
I only had one slice.

Speaker 2 (28:44):
So you can't you get a sniff of that bread.

Speaker 3 (28:46):
The last one I came in and it was almost gone.
It was just a butt. So who was it? No idea.
No one's gonna own up. I know, no one's facing up.
It was quirkoring and the guy that's coming in here
in a little bit. Yeah, probably McCarthy.

Speaker 2 (29:00):
Well, so you're saying to me is that it's pretty
seamless because almost all of our meetings now with our
wholesalers and with Fidelity, that's how we do. I mean
the one that we just had yesterday with that one
investment advisory platform Zoom. Almost all of our meetings in
the investment banking business now Zoom.

Speaker 3 (29:20):
Yeah, a lot. It's it's either a lot of it's
shifting that way anyway, just because it's convenient, Like the
people we talk to from Fidelity or any other one
of these major companies that we have relationships with, it's
just easy for these managers who live in Chicago or yeah,
you know, California, Washington, any of these states across the

(29:45):
country where there they can just hop on a call
and we can go over what is necessary to go
over without them hopping on a flight right and coming
and seeing us face to face. So that changed the
dynamic internally, But from a client standpoint, I think we
still prefer in person, like just to see face to face. Yeah,

(30:05):
I go over things. It's easier to explain things.

Speaker 2 (30:09):
And get some get some cinnamon bread.

Speaker 8 (30:12):
Get some bread, and and uh that I don't get
any try to over emphasis because they know that she's
probably listening her wonderful husband.

Speaker 2 (30:23):
I just want to let you know I'm still oh
zero talking about oh game seven, Yeah, tonight, yep, game seven.

Speaker 3 (30:34):
Yeah, it's gonna be interesting. Yeah. I think if the
if the Dodgers blow it with the amount.

Speaker 2 (30:39):
Of the pitching, that they're gonna use every picture in
their stable. They're not holding back in anybody.

Speaker 3 (30:45):
Why would you? It's game seven. The the amount of
money they spent on that team, just if if they
get they lose.

Speaker 2 (30:54):
I have no idea what they spent. I'm so against
sports now. I to me, money ruined sports, especially college sports.

Speaker 3 (31:05):
Well professionals, it's yeah, it's pay to play.

Speaker 2 (31:07):
I mean, well I understand that. But the thing is
is that you know, if the gazillionaire basically I look
at it as the billionaires have a little toy set. Now.
You know when you grow up as a kid and
you get a train set. Well, the billionaires now have
their toyst it is it's their toy set. Their toy
set is either a pro franchise, hockey, football, baseball, you know, basketball, whatever,

(31:28):
it's it's their little toy you know. For the billionaires. Yeah,
that nobody else could possibly afford.

Speaker 3 (31:33):
Keeps them busy, Yeah, gives them something to do.

Speaker 2 (31:37):
So you're you feel pretty comfortable, not only as far
as the ability for us to feel comfortable and warm
and fuzzy, but also to facilitate what the client needs.

Speaker 3 (31:48):
With Zoom meetings, Yeah, I mean with Zoom meetings, it's
very it's very easy to go over everything. I'll just
share my screen and walk through with them. The money,
I'll go over and riskalized, you know, portfolios. I can
upload their portfolio into riskal Eyes if they already have investments,
and then just give them a compare and contrast onto

(32:10):
where's the shortfall? The shortfall is just like I guess,
it's more personable. You have more of a personal connection
with someone if you're sitting across the table with them.

Speaker 2 (32:19):
Yeah.

Speaker 3 (32:20):
And I feel like they understand it more once they're
if they're in the meeting because they can ask more questions.
I feel like they feel more comfortable to ask questions
and dive into certain topics. But over Zoom is fine.
I mean I think people are a lot more comfortable
with it now. Or of teams, you know, whichever video

(32:41):
conference you utilize. There's it's becoming more and more adopted
because a lot of people are doing it now. I
mean after COVID most people, I'd say almost all or
most work Well, definitely not all because we don't do it,
but most work places now do some type of remote work.

(33:03):
Whether it's Monday or you know, Friday, or one day
a week or two days a week, they're remote. So
everyone's very comfortable with hopping on, you know, some type
of video conference call. No matter what age demographic you're in,
as long as you're in the workforce, we all go
through it.

Speaker 2 (33:21):
So it's not specific to the location either. So if
you have a husband and wife, he's out of town,
she's out of town, they still want to.

Speaker 3 (33:28):
Have the meeting, right, I just send him and he's he's.

Speaker 2 (33:30):
In uh, you know, Piughkeepsie, New York, and she's in Alabama.

Speaker 3 (33:36):
Yeah, they could be in Japan. It doesn't matter, you know,
it's one of them could be on the opposite end
of the world and the other one could be on
the other end. And as long as I send them
an email and they're awake and they can sign in,
we'll all be on the call.

Speaker 2 (33:50):
Pretty amazing I'm always amazing. Well that leads me to
my other promo here, and I'm gonna bang the drum
on this. Folks, they know that you're probably Jesus here
he goes again. But I can't say it enough. If
you're retired, or if you're about to retire, or you're
thinking about retirement, you know the one of the most

(34:13):
critical components of your retirement is a state planning and
also what are you going to do for health insurance
and also long term care coverage. Now, for some people
they want to have some type of a long term
care policy. Other people they elect to do trust and
keep their fingers crossed and hope that things work out.

(34:37):
We're going to go through on November twentieth at the
Desmond which is now the Crown Plaza right by the airport.
We've extended it out, We've added more seats because we're
getting such a huge response on this. We're going to
be talking about the current healthcare and long term care
crisis that we're dealing with and how you, as a

(34:57):
consumer of those types of products, need to start looking
at the options that are available to It's probably going
to be about an hour and a half presentation. Okay,
we'll probably both take about thirty to forty minutes and
then you know, have a ten minute break in between.

(35:19):
So if you want to attend, I can't overemphasize enough.
It's November twentieth. Registrations at six pm. Presentation starts at
six thirty. We'll have some picky foods for you. You know,
we're not going to have a sit down dinner, So
if you want, if you're hungry, you want to fill
your belly, you know, get there at six and have

(35:40):
some dinner beforehand. But we will have some refreshments and
some picky foods. But I can't. As I said, I'm
not trying to be Debbie Downer here, but what I'm
seeing is really kind of setting me back in my chair.
The cost of health care right now in the Capitol

(36:00):
District region, depending on where you are, say somewhere north
of the city all the way up to Platts where
right now in the Capitol District region, the average cost
of long term care is one hundred and fifty nine
thousand dollars a year. You go to the city, it's
a little bit more, of course, here in Albany metropolitan area,

(36:25):
in the Capitol District region. You're looking anywhere from like
sixteen to almost twenty thousand dollars a month. And that's
for basic care folks. That's not PT, that's not for drugs. Okay,
So you really have to understand what you're doing, Okay.
November twentieth, Desmond, Crown Plaza. Six o'clock is registration. Six

(36:47):
thirty is the presentation. Eighty eight five eat zero one
nine one nine is our telephone number to reserve your seat.
Eight eight eight five eight zero one nine nine. Dave
Kopek Gonna be right back after this quick break a
little bit more about the financial markets.

Speaker 5 (37:10):
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Speaker 6 (37:28):
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Speaker 5 (37:30):
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Speaker 2 (37:42):
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one nine, or visit us at our website rpgretire dot

(38:04):
com to schedule your complementary consultation. Your future will say
thank you.

Speaker 6 (38:10):
Ali Dwyer and her three sons lost their hero, Stephen
serving our country in the United States. Army was Stephen's
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in a Blackhawk helicopter crash over the Mediterranean Sea. Thanks
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(38:33):
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Speaker 2 (38:40):
You've spent a lifetime saving for retirement. Now it's time
to make that money work for you. Here's the secret
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we build customized income to distribution plans so you can

(39:01):
retire with confidence, retire smart, live well. Faull eight eight
eight five eight zero one nine one nine for your
complementary consultation. All right, November first, did the year go

(39:27):
by quick?

Speaker 3 (39:29):
I think it flew by. I can't believe it's a rash.

Speaker 2 (39:34):
Yeah, oh yeah, eleven eleven one month's got an eleven
on it.

Speaker 3 (39:40):
Yeah, it's crazy.

Speaker 2 (39:40):
It stinks about here though? Is that summer is just so?
I mean, if you're a summer person, you like warm weather,
you get what maybe two good months.

Speaker 3 (39:49):
Yeah, and then if you'll work at and then if
you'll work you got Friday Saturdays. So then you maybe
got eight days out of the summer, ten good days. Yeah,
it's not that's no good.

Speaker 2 (39:58):
Yeah. So I want to talk a little bit about
what's happening too, because it's a concern for a lot
of people. What's happening in regards to the cost of
living in New York. You know, I've been talking about it.
The taxes in New York are just astronomical, and when

(40:22):
you look at what's happening here. I had a good
friend of mine who worked in the employee benefit arena
with major corporations with met Life for decades, and then
he started his own consulting firm, and his consulting firm
used to go out and consult major corporations and school

(40:45):
districts as far as how to purchase health insurance for
their employees. And I remember him saying to me one time,
he says, you know what people are not going to
believe in the near future, how much these school districts
are on the hook for benefits for retirees of school districts.

(41:10):
And he said, it's a massive, massive unfunded liability. That
means that the school districts have promised healthcare benefits statewide
and the school districts have not set the money aside.

(41:31):
And there's a thing I did a little research on
this the other day, and there's a thing called O
p E B other post employment benefits, other post and
employment benefits, and it's a pay as you go model.

(41:54):
It's a pay as you go model. And what that
means is that the school district basically has to put
it into their budget what's anticipated as far as what
the healthcare costs are going to be, And right now
it's anticipated. It's anticipated, okay, right now, right that we're

(42:15):
somewhere around four hundred billion dollars in obligation to retirees
for healthcare in the school districts. I guess have gone
to try to, you know, adjust this a little bit,
but the courts have reinforced the obligation to the school districts.

(42:37):
So people say to me, what's happening with school taxes?
I know that my school tax bill was sticker shock.
I'm in the Shen School District, that I pay twice
as much in the Shen School District as I do
in the Lake George School District, twice as much, and

(42:59):
as you have a massive unfunded liability, rising healthcare costs,
legislative constraints that I just talked to about, which means
New York school districts are on the hook for significant
future expenses to retirees. Now, I know, I got a

(43:22):
lot of people who are probably banging the table. I
deserve it. I work there, and yeah, okay, it's your contract.
All I'm saying is that people say, why are people
leaving New York? Well, that's one of the reasons, folks.
Right there, that's one of the reasons.

Speaker 3 (43:41):
Yeah, most people they want to beat feet. I don't state,
but I was.

Speaker 2 (43:46):
Just down in Tennessee. Had a long conversation with the
guy lives in Tennessee. I asked him when his taxes
were down there, for the type of home he lives
in and stuff, he paid about sixteen He pays about
sixteen hundred dollars a month, a year, a year.

Speaker 3 (44:05):
Yeah, Wow, that's cheap. I think you're going to see
a huge exit of New York City if that mayor
gets elected, no doubt. With his new corporate tax rers. Well,
there's only so many billionaires.

Speaker 4 (44:19):
You know what.

Speaker 2 (44:20):
Billionaires can move a flick of a switch, right, Yeah,
billionaires don't. Billionaires don't have to stay in New York billionaires.
I mean, that's why you're seeing this mass exodus. That's
why Miami and Boca and Palm Beach and all the
Florida cities go to put Tampa where David is, Sarasota.
They're booman. Why they booming because at a flick of
a switch, I can leave New York. So in essence,

(44:43):
you're they're digging a hole here, and I don't know
what the governor's doing about this. I'm gonna stay out
of politics, but I can tell you this much, this
legislative cycle that we're going to see this year next year,
in my opinion, will have the greatest impact on New
York State. I've asked, I reached out yesterday because she's

(45:05):
been on the show before. I've asked the least Stephonic
to come on again on the radio to talk about this,
because there is a sense that she's going to be
running for governor. Okay, I think that she does a
good job for her constituents, and I'm just curious what

(45:25):
her position is in regards to unaffordability. Unaffordability because if
I have astronomical property taxes and I have astronomical, astronomical
health care expenses, it's you know, we lead the nation.

(45:53):
We lead the nation New York. We spend billions of
dollars on Medicaid billions right now, and how many what
what percentage of New York States population do you think
is that take on Medicaid right now?

Speaker 3 (46:13):
Chris, what percentage of the state I would say, well,
your generation far out numbers mine, So I'd say you're
pretty good. Forty six percent forty six percent on New
York New York residents. Wow, we're on medicaid. That was

(46:37):
my high.

Speaker 2 (46:38):
Guess you wonder and you wonder why counties are going
broke and people are leaving. We lead the nation. We
lead the nation as far as are medicaid expenditures right here, right,
New York represents about six percent of the US population percent,

(47:01):
but we spend more than ten percent on Medicaid. We're
six percent of the population, right, but we sent ten
percent of the entire nation of medicaid. Yeah, highest than
any other state.

Speaker 3 (47:19):
Well, people are living We're not necessarily living longer, but
we're just living more dependent on drugs and medical you know,
you're more susceptible to all these different diseases. Now we're
living longer. No life expectancies actually for the first time.
And yeah, because it's all going down. I don't think
it's because of the boomer generations, the younger generation, all

(47:41):
the kids that are dying fentanyl and drug drugs and
all the other stuff. Like I don't I don't know
what the number is you'd have to compress it and
look at the numbers. I'll tell you this much in
my opinion, you know AI what I what I what
we saw at that presentation and blessing them about AI
Artificial intelligence blew me away. Yeah, it's going to be
in every fact. I actually ask people now in the

(48:03):
meetings when when since that conference, like if what's being
implemented in their workforce regarding AI and if it's already started.
Most people say there's.

Speaker 2 (48:14):
Not a company. I don't think right now. In my opinion,
you know a major company that is not involved in
AI right now because they have to be right most
they want to compete, they want to stay in business.
Artificial AI has to be part of their business plan.
It's like us, we're implementing it in our business.

Speaker 3 (48:31):
Yeah, and it's gonna it's going to change things.

Speaker 2 (48:35):
I already told Jimmy's fired. Yeah, he might be fired yesterday.
He told me the count as days. No, it's it's
crazy though, I mean people are. I'll ask them and
they'll say, yeah, they're you know, there's stuff out there,
we're implementing it or we've already implemented it, and it's

(48:57):
changed my job dramass drastically, So it's it's interesting to
see the efficiencies it creates, but also what it does
down the line socially. I don't think anybody can really
tell you. I mean, there was there was a woman
on TV the other day that had a relationship with.

Speaker 3 (49:16):
The dot A dot.

Speaker 2 (49:19):
Yeah. Oh, that's weird. She had a relationship with the dot. Yeah,
whatever the hell that means. I don't know what that means. Well,
they were talking about AI basically that she she was
totally in love with the Dot.

Speaker 3 (49:34):
Yeah, that's.

Speaker 4 (49:37):
Serious.

Speaker 3 (49:37):
That's odd.

Speaker 2 (49:38):
Yeah, bozos here, uh oh, instead of getting him a
Waldo outfit, we got to give him a Boso the
clown off. That would be his Christmas present. I don't
know if he'd like that, but he do it. Chris

(49:59):
the great guy. But you know, folks, I'm banging the
drum here because I'll tell you what I think. We're
on a precipice of serious, serious financial challenges here in
the state of New York, serious challenges here in New York.
And you know what, I hate to say it, but

(50:19):
a lot of our clients are leaving New York. A
lot of our clients are packing bags and they're saying,
we'll be back, We'll be back in the future to visit,
but we're not going to live in New York. So
bottom line gets down to is that you're going to
have to make some decisions here, and as I said,

(50:40):
we're going to try to help you in this decision
making process. November twentieth at the Desmond Crown Plaza, Current
healthcare and long term care crisis. How can you select
the right options for you? We'll talk briefly on the
legal side of it, briefly a little bit, but not

(51:01):
a lot, because that is an option too that you
can go through, but that's not a panacea, believe me.
Registrations at six presentations at six thirty. If you want
to attend eighty eight five eight zero one nine nine.
That's eight eighty eight five eight zero one nine one nine,
leave a message Jim or Jarrett or someone in my

(51:22):
office will contact you to reserve your seat. We've added
more seats because we've had such a strong response. I
know that this is topic number one for a lot
of people, for a lot of people, and again, as
I've always said, we offer a complementary consultation. We are
now getting much more active in zoom. I'm not I
can tell you that much yet, but I will. I

(51:44):
have to do it.

Speaker 3 (51:47):
We'll schedule some training courses for you.

Speaker 2 (51:49):
How do I turn the computer? Oze yeh. We'll be
back after this quick message. This is the Retirement Planning Show.
Chris McCarthy will be here with my son, Christopher Kopek
special K. We'll see you right after this. All right,

(52:17):
all right, that's all right? Who did that? All right?

Speaker 4 (52:24):
Good morning? I gotta put who's on first? I don't
know who's first? Oh my god, too much, too early?

Speaker 3 (52:32):
Who's that?

Speaker 2 (52:32):
Who's that? Who does that?

Speaker 4 (52:34):
Habit? And cast you God, they were funny, funny, funny.

Speaker 2 (52:40):
All those all those comedians back then. I don't even
know where they considered comedians. Probably habit in Castell.

Speaker 4 (52:47):
Well, yeah, not like we know them today, though, But
you're right.

Speaker 2 (52:50):
Yes, they were funny without being filthy.

Speaker 4 (52:53):
Mm hmm. Well we got still some that bolg Yeah.

Speaker 2 (53:00):
Larry the cable guy.

Speaker 4 (53:04):
You can't overlook him.

Speaker 2 (53:08):
Chris wanted me to say this number again. Okay, nine
point four million New Yorkers, or forty seven point six
percent of the population, were enrolled in medicaid.

Speaker 4 (53:21):
A lot of people, a lot of people.

Speaker 2 (53:25):
Why do you think people are leaving? In all honesty,
you and I just talked off air. You were a
property owner, you elected to go to an apartment and
I won't speak for you, but when you added it
all up, it did not make sense for you to
buy a house.

Speaker 4 (53:44):
Not for myself. No, No, you know, there's a lot
to be said. I mean what I mean, I believe
in the equity and all that other stuff, but the
road to get there for me didn't make anything.

Speaker 3 (53:59):
No, you know what, what's your thought? I I mean,
the numbers don't lie. We're we're turning into a renters society.
Like we'll look at more and more every year. Look
at Clifton Park.

Speaker 2 (54:13):
Half Moon. Yeah, ninety of the constructions apartment buildings. Yeah.

Speaker 3 (54:18):
Did you just see what they're gonna put up right
by across from the Low's or the uh yeah, yeah.

Speaker 2 (54:24):
That's Louisy, Yeah, Louisian, the guy that used to own
I can't think of his name now, the garbage company.
They're doing that at Conjunction. That's gonna be it's gonna
look just like the one that's on between Green Island
and Troy on the Island there. Yeah, the same type
of development will be it will be beautiful. Yeah, it
looks nice, but it's all apartments.

Speaker 7 (54:44):
Yeah.

Speaker 4 (54:44):
I mean when you look at the real estate market,
it's like we were saying off Air, a lot of
these young guys and gals that are looking at houses right.

Speaker 3 (54:56):
Now, it just well, everything's a half a million dollars.
I know, that's your starting point. If you're looking for
a home right now. It's like, well, you better have
a half a million bucks or you better be able
to afford that mortgage, because that's pretty much everything.

Speaker 4 (55:11):
Right, And then you add the school and property tax.
You know, like your dad said, what I'm paying in
rent right now is most people's school and property tax
right doesn't even count the principle and inter.

Speaker 2 (55:25):
Right, just to say I paid eleven for school taxes
right now, I got county tax coming in January. Right,
it's say another four or five, whatever the hell it's
going to be. You know that that only Keith continuing
to go up too. You know I just said something,
and this is going to resonate with you because you've
been in the financial services business almost as long as me.

(55:47):
The unfunded mandates by school districts right now. You know
David or for healthcare? You know Dave a friend of mine.
We'll mention his last name. They of his company, and
so he may rest in peace. Great, But him and
his partner Fred told me years ago that this was
a nuclear bomb waiting to go off, especially when Obamacare

(56:09):
came into effect. They said, you wait and see see
what happens. You wait to see what healthcare costs. What
these school districts are going to be on the hook
for it, unfunded right, pay as you go. It's not
like they got a piggy bank sitting on the sidelines
and they held back money in order to pay for
these teachers that could be out here. I used my
wife as an example. Okay, Julie just turned sixty, even

(56:35):
though she looks thirty. Absolutely absolutely, I picked a good one.
I picked the right apple up, Oh boy, you hit?
She calls me the same.

Speaker 4 (56:47):
Really, I'm sure that name.

Speaker 2 (56:52):
That's in between all the other ones.

Speaker 3 (56:55):
Sat Lucifer.

Speaker 2 (56:59):
Julie retired at fifty nine. Right, she had the ability
to go, she had health insurance. I didn't because she
didn't work there long enough. It was just for her, right, Okay,
Now I'm just using her as an example, she she's
she could live another thirty years.

Speaker 3 (57:22):
Mm hmm.

Speaker 2 (57:24):
Statistically right, the eighty say to eighty nine ninety Shn's
school district is on the hook for her for the
next thirty years.

Speaker 4 (57:34):
I couldn't you know? You and I have been talking
about this for years. Yeah, I shared with you. How
does this make you feel?

Speaker 3 (57:42):
Folks?

Speaker 4 (57:43):
Oh, I'll tell you that the gentleman.

Speaker 2 (57:46):
They're putting for seth side to the front right now.

Speaker 4 (57:49):
I keep smiling, pile, keep smiling. No, there was a
gentleman who recently passed away, to whom I had an
appointment with years ago. He owned a very successful local business,
and he predicted forty years ago what is happening today.

(58:11):
He mainly was telling me not only were we going
to have a health care crisis, but we're spending too
much money on keeping people alive and not enough money
educating people how to better take care of themselves when
they're younger. So long in the storort of it is

(58:32):
when we look at people are worried about social security,
look at all the other bombs that are going to
go off like you just said, or all these benefits
that are being paid. It's not a question if the
people didn't earn their benefits. Of course they did. But economically,
somebody is missing the boat with these calculations because that

(58:55):
bubble's going to continue to get bigger and there's no
end in sight.

Speaker 2 (59:00):
Well, it's a massive unfunded liability by the school districts.
It's a pay as you go model. Right, It's a
pay as you go model. You get the bill, you
gotta pay it. Right. It's not like you've got to
piggybanks on the sidelines that you save money. It's not
a constant fixed expense. Because what's happening. Mean, twenty twenty

(59:21):
four healthcare went up about nine percent. They say this
year it's gonna go up about twenty twenty right, And
there's no legislative effort that you could basically put into
place in order to walk away from that obligation.

Speaker 4 (59:36):
Well, i'll tell you it's long overdue that at least
some strides are being made that we're looking at some
of these budgets and everything, because it can't continue to
go on. The bubble is going to continue to get bigger.
People are living a long the expenses are going up.

(59:58):
It's a lot to sustain all the retirees and the
benefit that they're on. And I'm not talking just healthcare,
you know, pensions.

Speaker 2 (01:00:08):
I understand. I understand that. I'll use a friend of
mine that both of you guys know, uh, retired from
the state, worked hard. He doesn't pay a penny for
health care mm hmm for a penny because he had
all his time built up where he gets to apply

(01:00:31):
all that time towards his healthcare costs for retirement making
a lot of money, you know, two pensions in the
house to social securities, you know, substantial amount of money.
Not one penny, No one penny goes for his health care.

Speaker 4 (01:00:52):
And good for them, I mean they bite. Good for them,
but not good for taxpayers, that's right. And where else
are they going to go to generate revenue? They have
to go to the TAC payer.

Speaker 2 (01:01:06):
And guess what, because he's a state retiree, he doesn't
pay New York State income TEX.

Speaker 5 (01:01:15):
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

(01:01:38):
eight five eight zero nineteen nineteen Retirement Planning Group Retire
with Confidence.

Speaker 2 (01:01:44):
Attention, future retirees. A financial threat is putting your retirement
at risk. The cost of long term care can be
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(01:02:06):
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Speaker 6 (01:02:15):
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Speaker 2 (01:02:45):
We are living through the greatest wealth transfer in the
history of mankind. Trillions of dollars of wealth will change
hands from one generation to the next. Your money to
our beloved children and grandchildren. Are you ready? Your future
is written by chance, it's written by action. How's the
time to build your plan, protect your assets, and position
yourself for the opportunity. Don't wait, take action. The future

(01:03:07):
favors those that are prepared. Call eighty eight five eight
zero one nine one nine. That's eighty eight five eats
zero one nine one nine. Hey, I want to thank
Chris for bringing the saxophone in to my son has drums.
It's nice. They did a good jobs. This morning, I'm

(01:03:29):
playing the banjo.

Speaker 4 (01:03:31):
We needed to play a little. America's got talent here
on a Saturday morning.

Speaker 2 (01:03:36):
So I know that everybody's flying checks out and there's checks.
I think New York States center out checks. But in
twenty twenty five, the state's financial plan originally projected a
deficit of four point three billion. Right now, they're looking
at a structural deficit that could reach thirty four point
three billion through the year twenty twenty nine. Okay, what

(01:04:01):
are the factors that are contributing to this? Federal government
funding cuts supposedly? Okay, Medicaid costs, rising enrollment, high costs
are a significant factor. Medicaid spending well exceeding projections. Migrant
and asylum seekers right, paying, they got better health care
than us, right, and then growing spending. Can't stop the spending, right.

(01:04:26):
We like to spend. New York State loves to spend. Right,
even though we don't have the money, we still spend
it because what we'll do is we'll just take your
money and make it our money. Because there's so many billionaires.
And what they're doing is they're going to chase people
out in New York State. They're going to be like
rats coming out of a you know, tenement building down
in New York. They're going to just run to the river.

Speaker 4 (01:04:47):
I don't think there's enough economic well, I don't think
there's enough economic major that are in government.

Speaker 2 (01:04:54):
Well, you've got a degree in finance and economics. Okay,
there's an old saying you know that, you know, for
every action there's a reaction, and for everything that you do, right,
you got to have dollars in order to basically make
sure that there's adequate amount of coverage.

Speaker 4 (01:05:13):
That's right.

Speaker 2 (01:05:14):
Right, So, but we got this magical thing down there
called the ability to do what come on, come on
to come up with ideas. Ta, what the hell, let's
just add another two or three percent.

Speaker 4 (01:05:33):
On with my understanding, there be no quizit this morning.

Speaker 2 (01:05:36):
The other part, I heard a guy. I heard a
guy on the other day at Cudlow and he was
talking about living in New York City now and how
expensive You know this because you have a lot of
friends done in New York. Yeah, how expensive is live
in New York? And they just keep on saying they're
going to raise more taxes, more fees, more charges, more this,
more that.

Speaker 4 (01:05:56):
Well, you see, the thing is that the unfortunate part,
you know, when you treat government and benefits and everything
like it's an unlimited credit card and there is no economics,
you know it, Just like I said, it's an ever
growing line of credit. And until we really start to

(01:06:17):
take a serious look at how we're going to generate
more dollars to pay for somebody's costs.

Speaker 2 (01:06:25):
We got projections for deficits in twenty five and many
years forward, even though they got billions of dollars from
the federal government and growing spending, the growth of certain
areas specifically, like they're saying right here, medicaid is to
outpace the growth in state receipts. So you know, you
got a train that's going down the track that's not

(01:06:46):
slowing up and speeding up because of what growth, Because
we can't just hand that money out quick enough, and
it bothers the hell out of me as a taxpayer,
and for someone that spends a lot of time time
with hard working savers like my brother in law who's
trying to pay for his four oh one K and

(01:07:06):
try to pay for his healthcare that works six days
a week, and people come into the system and they
basically have better health care than him.

Speaker 4 (01:07:17):
Changes have to happen, you know what. There's no doubt
about that. Yes, yeah, I agree, I do agree, And
but like I said, you know, we need to get
some serious minded people to sit down and put a
strategy together that we're going to try to control or
try to slow down the increasing cost but and if

(01:07:41):
it's not through taxes, you know, again, that line of
credit is going to continue to grow.

Speaker 2 (01:07:47):
What was the origination of this country for the escape
of what taxes? Taxes?

Speaker 4 (01:07:54):
I know, But the thing is, again, we are not
generating any other answer to raise cap other than taxes.
And that's long.

Speaker 2 (01:08:03):
Well, I just had a long conversation with an extremely
liberal friend of mine who does not like me sometimes
because I tell them exactly how I feel when I
can get an unemployment benefit right now, I think the
number correct me. If I'm wrong, you might want to
look this up, Chris, the unemployment benefit in New York

(01:08:24):
State right now, I think is eight hundred and sixty
nine dollars a week.

Speaker 4 (01:08:29):
Well, I heard from you. Yeah, definitely went up eight
sixty nine. And you're might what is the incentive?

Speaker 2 (01:08:35):
So if I have to go to work and work
a forty hour job at twenty five bucks an hour,
that's a thousand by the time I do the FIKA,
the Workman's comp the DBL, and all the money that
comes out of my paycheck, which you guys scream about
all the time. Right, instead of getting eight sixty nine,
I'm probably gonna get what seven hundred.

Speaker 4 (01:08:56):
Seventy fifty, right, I think that's a good guess. Yeah,
why should I go to work? I'm with you, brother, No,
why should I go to work? Why not just sit home?
You got people screaming on the street.

Speaker 2 (01:09:08):
No, I got six kids. I need that money. I
need that money. I need those food stamps in order
to pay for my six kids, for my four different husbands.
I saw that on TV the other day. I got
four papas and I got six kids. I need that money.

Speaker 4 (01:09:24):
I agree. I remember years ago.

Speaker 3 (01:09:27):
I can make it up.

Speaker 2 (01:09:28):
You can't make this crap up.

Speaker 5 (01:09:30):
I know.

Speaker 4 (01:09:30):
I remember years ago. I can't remember how long. But
they were interviewing a mother. Yeah, and I think the
food stamp went down a faction, a fraction of what
she was getting, and she was complaining, you know, I
can't do without the fifteen dollars less and benefits.

Speaker 2 (01:09:52):
Okay, now here, here's something that I just want to
leave because I don't want to bang the drum too
hard in this folks. But I'm hoping that you get
my drift. Okay. September twenty second, twenty and twenty five.
It's in the paper down in New York City, Nasaw
Bosi's faces. This is bold print nine hundred and forty

(01:10:15):
seven million dollars time bop. My math is correct, that's
about a billion dollars, right, that's pretty close to a billion.
So let's round up. Let's just say about a billion
dollar nasaw bosies faces at nine hundred and forty seven
million unfunded retiree healthcare liability forcing fifty six just to

(01:10:37):
absorb these rising costs.

Speaker 4 (01:10:39):
I know, and that's what we were talking about.

Speaker 2 (01:10:41):
Well, say, why are people leaving New York? That's right,
you think any of this is going to go down? No, honestly,
do you think it's going to go down in your lifetime?
The debt, not the debt, all these liabilities that you,
as a taxpayer you're going to have over the next
thirty of the forty years to live in the Empire state.

Speaker 4 (01:11:03):
Well, just like anything else, go ahead. No.

Speaker 3 (01:11:05):
No, I was just gonna say, no, I don't. I
don't see it going down because, like you said, government
spending there, they don't. They're not incentivized to not keep
the money printing. So if you if you're if there's
no repercussion for just printing more money and add more
onto the debt. Add more onto the bill. Then where

(01:11:28):
where does the line get drawn in the sand where
you say, all right, enough's enough. You know we have
enough debt. Let's try and knock it down.

Speaker 2 (01:11:34):
Eric says, you gotta go, you got you gotta listen
to those folks because we'll make you laugh. Okay, This
is how screwed up a lot of the system is.
The numbers from nasau Bosi's twenty twenty four audited financial
painted an undeniable financial picture. Total OPEB the health insurance

(01:11:58):
right ND forty almost nine hundred and forty seven billion,
up from eight hundred and thirty six a year previous.
So it grew over one hundred million money set aside defunded.

Speaker 4 (01:12:10):
How about you think, oh, jee, not even six dollars
two cents?

Speaker 2 (01:12:16):
How much you think I'm gonna say half zero? Money
set aside defunded zero? I was closed to annual world
one hundred and ten million, thirteen point two percent increase
in one year. What do you think it's gonna be
this year? Right? Unfunded liability? Who's gonna have to pick
that up?

Speaker 4 (01:12:37):
Tech fans and you know, and that's just one arena.
But we're going to focus on healthcare.

Speaker 2 (01:12:44):
We're gonna focus on healthcare and we're gonna focus in
on long term care and we can back.

Speaker 3 (01:12:48):
Uh.

Speaker 2 (01:12:48):
Just don't forget folks. You know, I'm not trying to
scare you. I'm not trying to be Debbie Downer, but
I'm telling you right now you better have a plan
because this time bomb, and that's what they're qualing it,
a time bomb for healthcare and long term care cost.
It's coming and it's been coming a long time, but
it's aggressively getting worse.

Speaker 4 (01:13:08):
You know, I'll tell you, I am so excited. I
think it's long overdue that we're having this seminar because
for so many people, this is probably one of the
most frustrating.

Speaker 2 (01:13:19):
Do you know what some people are gonna have to do?
What are they going to have to do New York? Well, yeah,
I mean in order to have quality of life, and
people are well leaving a drugs people are I mean,
people are gonna have to leave, as simple as that.
The woman we just talked to last night, her plan
is to get the hell out of Dutch. Yeah, she

(01:13:40):
doesn't know where she wants to live.

Speaker 3 (01:13:42):
She's got family in a couple of different states, but
she wants to travel the country. Just get in an RV,
travel around. And we have another group of people who
just did the same thing. The residence is South Dakota, yep.
I would just uply need to be a resident. To
be a resident of South dak do you have to
be there for one day?

Speaker 4 (01:14:01):
One day?

Speaker 2 (01:14:02):
And guess what?

Speaker 5 (01:14:02):
Now?

Speaker 2 (01:14:04):
The worst part of this is that they're borrowing money
in order to pay for this unfunded liability. If you
read this article, they're borrowing money in order. The interest
that's accruing on the unfunded liability is thirty nine million.

Speaker 4 (01:14:22):
That's exactly what I was reporting too earlier that you
guys already know this is insane. There's too many things
in this country that will be funding It's no different
than a credit card, an unlimited credit card with god
knows what.

Speaker 2 (01:14:36):
They're they're finding their thieves and thousand dollars suits. Yeah,
that's what they are. It's a cancer. It should be there,
shouldn't shouldn't exist in this country for somebody to pay
twenty nine percent a credit card.

Speaker 4 (01:14:50):
Oh, I was saying that all along. How many times
do we talk about.

Speaker 3 (01:14:54):
That when we meet with people and they it gets
the law we see their liabilities tab different than the
pooky on the corner. Right, we say that's the first
thing to go, because even just paying the minimums off
that you can't get an investment where we're going to
tell you that you're going to make over twenty nine
percent every year and we'd be able to foot that bill.
It's it's not feasible.

Speaker 4 (01:15:16):
Well, you know, so here here's the answer. Here's the answer.
Well we've been waiting why.

Speaker 2 (01:15:22):
They need to raise taxes in order to meet their expenses?
Why the district costs? Right, in order to basically cover
these costs, they're going to have to do what you
can't file for bankruptcy? What do you do?

Speaker 4 (01:15:36):
Raise taxes?

Speaker 2 (01:15:38):
I know it's at Africa dabricus am both. Let's just
add more taxes to the pot. So all right, folks.
November twentieth, Desmond, Crown Plaza Registrations at six presentations at
six thirty current health care and long term care crisis.
You gotta go eight eight eight five eight zero eighty

(01:16:01):
eight five eight zero one nine nine. Reserve your seat.
You've added additional seats. All right, we are bagging here.

Speaker 4 (01:16:20):
I got it.

Speaker 2 (01:16:22):
Very optimistic, very positive, sin, I keep saying to myself,
Sovanity now, Sovanity Now, I'm your host, Dave the Saint Kopet.

Speaker 4 (01:16:33):
Boy. You got that right. We're gonna have a great seminar.
I think a lot of people are gonna be really happy.
They're gonna they're gonna learn a lot of information. The
thing is is that, uh, we don't have any magic wands, folks.
So if you're looking for a magic wand when you
come to the presentation, they don't exist. And it's an

(01:16:54):
uncomfortable truth that you know, we're heading down a very,
very very dark path as far as I'm concerned.

Speaker 2 (01:17:00):
John and Saratoga. Is this my buddy, John?

Speaker 8 (01:17:03):
It is?

Speaker 2 (01:17:04):
Hey, don't brother, Did I depress you?

Speaker 7 (01:17:07):
You do it?

Speaker 2 (01:17:07):
Did I depression enough this morning?

Speaker 7 (01:17:10):
You did? Staring the bejess inside of me? So I'm
I'm sixty five, and I started and I said, I
want to get my piece of the pie in January.
So I started collecting my solid security and I was warned, uh,
don't make over twenty three thousand, four hundred dollars for
the year. If you do, you'll get to give us

(01:17:32):
a call. So I did that. I called him in August,
and I said, I'm going to be a couple thousand
over and their answer was to yank my soil security
until December. So I'm without any kind of payment. And
you know, that's just playing by the rules. But this
week I went to my doctor of twenty five years

(01:17:55):
in Saratoga, He'll remain nameless, and he he he had
a little sign on the wall that he was no
longer going to participate in health coverage health insurance and
you had to pay him twenty five hundred dollars a
year to beat your advisor, your healthcare advisor.

Speaker 2 (01:18:15):
You're kitting.

Speaker 7 (01:18:18):
And apparently a lot of doctors are going this way
because of the insurance debacle.

Speaker 4 (01:18:24):
Wow.

Speaker 2 (01:18:25):
John, that's the first I've heard of that. Yeah, Wow,
So what do you do? You got to write him
a check. You write him a check for twenty five
hundred and then he takes the.

Speaker 7 (01:18:35):
Do buy yearly payments. You can give him twelve fifty
and twelve fifty.

Speaker 2 (01:18:39):
How many times can I go away?

Speaker 7 (01:18:40):
He'll do it?

Speaker 2 (01:18:43):
Is there a limit as far as so many visits
or you can make you know, you show up once
a week.

Speaker 7 (01:18:50):
It didn't say on the letter on the wall. And
I didn't really. I was in shock because he wouldn't
even give me my flu shot. He told me to
go to you know, CBS or Walmart or something to
get my flu shot because he didn't want to if
I got sick after that. He didn't want to deal
with the repercussions of me being sick from the shot

(01:19:12):
he gave me.

Speaker 2 (01:19:13):
Can you believe the greatest country on earth is dealing
with this in this capacity out Honestly.

Speaker 7 (01:19:20):
Until somebody got your greasy little fingers on our healthcare,
we were good to go. I have a retired surgeon
he just passed away, actually orthopedic surgeon, and he had
to retire fifteen years ago, and he warned me, he says,
you're not going to like what's coming with healthcare.

Speaker 2 (01:19:40):
And he was right, Well, it's not only what's coming
with healthcare, it's all of the other peripheral And what
it is is that I've just been talking about the
unfunded liabilities of school districts that you, as a taxpayer,
if you want a property, are going to be obligated pay.

Speaker 7 (01:20:03):
Yep. I sold my house five years ago because it
became an albatross around my neck, and I just I
could see it with the upkeep and uh, you know,
work five days and then come home and have to
work on the house all weekend. I didn't want to
do that anymore. So that's where I was at.

Speaker 2 (01:20:23):
Well, listen your show.

Speaker 7 (01:20:25):
I missed Joe Gallagher. I miss uh Is Zach answering
the phone for years. I've been calling in and Jack
always answered, and.

Speaker 2 (01:20:33):
Well, Ashley does a good job. We're gonna you know,
she's on the top of everything. So don't don't despair.
We are here to help you, Yes, we are.

Speaker 4 (01:20:44):
You know. It's kind of funny. I just got something
from my dentist, to whom and it's the same thing.
They sent a notice saying we no longer carry you
insurance if you'd like to continue with us, and then
an charge me. I think it's four hundred dollars for
the year, and they gave me an outline of covered. Yeah.

(01:21:07):
I just got it last week, which I don't have
a problem with. Hey, that will the world we live in.
You know, your insurance is accepted one year, not the other.
I don't know what all the mechanics are. I can
only imagine there's a lot of doctors, dentists, some one
and so forth that are fed up with maybe some

(01:21:27):
of the shenanigans with the insurance company. I don't know.
I don't know. It's got to be a pretty brutal
negotiating table.

Speaker 2 (01:21:36):
The question that I asked consistently myself is this sustainable?
Because I spoke to a couple the other day extremely
professional people owned businesses throughout their clients of ours. Chris

(01:21:58):
and I met with them, my son and I and
if I mentioned their name, you would recognize them. They've
had a lot of businesses in the Capitol district or
clients of ours. And I said to him the other day,
the one business that he has, I said, did you
ever think that the expenses would be so high in

(01:22:18):
order to run a business today? When you factor in
your employees, healthcare, four oh one K, taxes, everything. He goes, Dave,
that one business that I have? Right? I know you
remember this? Do you remember what he said? He says,
when I put the key in the door every day

(01:22:39):
and turn the lock, I have, he has to make
not gross, he has to make twenty five hundred dollars
in order to pay to break even.

Speaker 4 (01:22:49):
You you've educated me because I've never been a quote
unquote business owner like yourself, and boy my eye started
spending like a slot machine and they cry.

Speaker 2 (01:23:00):
I tear up when I see the amount of money
that has to go out the door.

Speaker 4 (01:23:04):
Oh, between taxes, FIKA, all the worker's comp then you're
then the expenses of the building, the office.

Speaker 2 (01:23:13):
You know, go through the whole laundry list. Well that
doesn't it never goes down people, So well, you know
what do you charge? Well, charge charge of fee in
order for me to have lights on? Well, and I
think we got the most cost effective platform out there
as far as fee structure. But I'll tell you what.
When that guy told me the other day that he's
got to make twenty five hundred a day three sixty

(01:23:36):
five in order for him because he's got it based
out of So what is that calculator right now? Twenty
five hundred times three sixty five is what he's got
to make top nine hundred and twelve thousand dollars before
he makes a penny make.

Speaker 4 (01:23:53):
That's crazy, It is crazy. That's a hell of a
crack right there. And you know another thing, do you
remember that, Chris, Yeah, yeah, he was going over it
the other day. That's a pretty staggering number. It is
nine hundred and twelve five hundred dollars just to.

Speaker 3 (01:24:11):
Be at par.

Speaker 2 (01:24:14):
Yeah, that's just to keep the lights on and for
the employees and everybody to be happy. And that's today.
That has not factoring in what's it going to be
next year in twenty and twenty six, because nothing stays
goes down.

Speaker 4 (01:24:27):
No, no, not at all. I mean, even look at
our basic fees that we pay, like you were saying earlier,
the EOY email retention, I'm still trying to see and
then you add it all up and a lot of
my no means it's not twenty five hundred dollars a day,
but it's creeping up and like you said, it is

(01:24:50):
not going down.

Speaker 2 (01:24:51):
So the bottom line is that what we're going to
try to do with this presentation is to give you
ideas and suggestions what we're seeing and what our strategic
partners are telling us, and why it's important for you
to have a plan. You just can't go into retirement now, folks,
thinking that everything's going to be, you know, rosy, and

(01:25:13):
you're going to have a wonderful time and there's not
going to be issues because there always are. Yeah, and
What you need to do is understand what your healthcare
costs are going to be, what kind of healthcare do
you want, where are you going to live, what's going
to be your zip code? Do you need long term
care coverage? If you do need long term care coverage,
you and I both know because we've been doing it
so long, that has changed not one hundred and eighty

(01:25:36):
three hundred and sixty degrees just in the last five years.

Speaker 4 (01:25:40):
You and I talked when I was blessed with the
opportunity to join with you guys, you know, which is
almost two years ago, and just the long term Caravena
alone and I remember back in the day because I
was bought in by some very very good people, very
well educated people, when long term care was really becoming

(01:26:02):
more and more popular. When I became reacquainted with the
long come care industry, I didn't even know the New
York State partnership was gone.

Speaker 2 (01:26:12):
Yeah. Well, the thing is is that I think one
of the biggest misconceptions out there is that the IRA
is protected from a Medicaid spent down. Okay, you better
know where you're living and you better know the county
that you're living in because I've had numerous conversations with
attorneys in the Capitol District region as far as even
out in Syracuse. With the attorneys in Syracuse. There's a

(01:26:33):
little thing that they're doing now is that they're doing
it on life expectancy, not on periodic payments or rm D.
And if you're late in age and you got a
big IRA, that IRA is going to be spent down,
they're not going to just write you a check for medicaid.
We had a woman, a client of ours, whose mother
had a New York State partnership program. She basically depleted

(01:26:54):
the asset right all the money was gone. Now she
wanted the county to pay for her Medicaid bed. The
county said, fine, we're going to do that, but we're
going to go after your IRA. Now, your IRA is
an asset that we're going to go after. You're going
to spend it down on life expectancy, where they thought
that they could just do periodic payments. So, you know what,
this panacea that everybody thinks exists out there, I'll put

(01:27:16):
my money into trust, I don't have to worry about it,
and then when I die, you know whatever. And that's
another thing that really gripes me. And I know that, Frank.
You know, I've had a lot of attorneys say to me,
it's legal. We've got people that have hundreds of thousands
of dollars, if not millions of dollars inside trust, your
revocable trust right that are trying to do what Why
did they put the money there protective asset and get

(01:27:38):
on what medicaid? And could they afford to launching care policy?
Was the portion of that dividend they could? And they
don't do it because it's it's a legal option. So
it's it's like a Ponzi scheme. It's like the guy
that's down in New York City with those little things
that he moves around, tell me where it is?

Speaker 4 (01:27:53):
Right, Yeah, I mean that's again and I totally agree
with you. Again. We're not here to scare people. Oh
we are, but the reality is we are.

Speaker 2 (01:28:04):
We're here to helping them because if they're not scared,
they should be scared because I'll tell you what, these
are unprecedented times.

Speaker 4 (01:28:12):
You know, and I think we have a lot of
strategy that have booked very well with client on how
but you got to do what plan plan?

Speaker 2 (01:28:21):
That's exactly right. We'll be back after this quick break.
Talk a little bit more. Uh you got any questions,
We're open lines one, eight hundred talk WGY one eight
hundred eight two five fifty nine forty nine, and good
morning to all of our friends at Poughkeepsie. To be Kip.
We're here.

Speaker 5 (01:28:37):
Time flies and retirement will be here before you know it.
Are you ready? Don't wait until it's too weight to
get your plan in place. Dave Kopek and the team
at Retirement Planning Group are helping people just like you
take control of their financial future right now. Call eight
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why should you.

Speaker 2 (01:29:05):
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Speaker 6 (01:29:34):
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Speaker 2 (01:30:43):
All right, we're back.

Speaker 4 (01:30:48):
You know one thing I want to say real quick.
We just talked about it two seconds ago.

Speaker 2 (01:30:52):
Right bye.

Speaker 4 (01:30:54):
We live in an amazing world. We have so many
avenues available to communicate with people, whether it's by phone,
in person, zoom, whatever it is. It's great. There's no
excuse to not get together and talk about some of
these very important areas. But I'll tell you there is

(01:31:15):
nothing like meeting in person. There's just I really enjoy
interacting with people face to face. You know, you can't
have a relationship with a computer.

Speaker 2 (01:31:29):
I think you and Jimmy enjoyed it. I think you
and corporate because I saw two loaves of that cinnamon
bread just vaporized, like evaporated. All I know is that
they said we saw Chris and Jimmy when there a
couple of times, Hey listen, how many pieces of that
did you honestly have? I do honestly, how many did
you honestly have? Thee of the last loaf one honestly one,

(01:31:55):
and I think Jimmy was the one to cut it.
And it was a generous cut. Of course, it was honestly,
I'm being totally honest.

Speaker 3 (01:32:03):
The piece it was half the low. I do not
lie about my sugar.

Speaker 1 (01:32:09):
I do.

Speaker 4 (01:32:09):
Oh yeah, I never I never saw anybody move for.

Speaker 2 (01:32:12):
I forgot to say. Now we got another candidate. Uh, oh,
another candidate, another good friend of ours, the Silo and
Glenn Swalls. Oh yeah, run in their donuts, cider donuts.

Speaker 4 (01:32:26):
They was delicious.

Speaker 2 (01:32:28):
We've had the Silo, We've had Smiths yep, full Castle yep.
And lake Ridge. Yes, so you are now we got
three in the race. We got we got oh we
got four? Really well, I just were four. I can't count.

Speaker 4 (01:32:48):
Get it right, will you please? Boy? I can't wait
to talk to you about my pie.

Speaker 2 (01:32:51):
I lost when I lost those two fingers. Anything after
three I get lost.

Speaker 4 (01:32:58):
But oh god, and what great, oh god, great client.
We have great people. They're good people. They're good people. Okay,
you I'm excited about this seminar. I think a lot
of people, like we were saying earlier, it's one of
the most frustrating time to the year. Is a lot
of people open the moment. You know, you see all

(01:33:19):
the commercials, all the companies out there. I'll pitch in you.
And that's why I enjoy working with Terry as much
as we do.

Speaker 2 (01:33:27):
Well, this is what I would say before you make
a decision on where you're going to go. You should
go to the seminar at the workshop. You have until
December seventh, I believe, to make to make your selection.
And the thing is is that if you want more
specific in details again for those that are just tuning
in November twentieth at the Desmond which is of course
the Crown Plaza now right next to the report, we're

(01:33:47):
going to have a presentation. Will be some picky food
and some refreshments, registrations at six The presentation will be
at six thirty. And the topic, of course, it's one
of the greatest fears for people today, the current healthcare
and long term care crisis. How it could possibly affect you.
If you've got tons of money, this is irrelevant, right,

(01:34:07):
you don't have to worry about it for you know,
hard working savers that people have worked throughout their whole lives.
You want to attend this eighty eight eight five eight
zero one nine nine. It's eight eight eight five eat
zero one nine one nine. Reserve your seat today because
I'll tell you what. I don't think we can add
any more seats than we already ad it.

Speaker 4 (01:34:25):
No, And I'll tell you one of the things I
love about our holistic approach to everything. We have so
many different strategies and if we can show people ways
that they can maximize not only what their money can
do for them, but also protect put a plan in place.

(01:34:45):
One of my favorite all time. I'm not a big
philosopher of all this stuff, but I love that one
saying people don't plan to fail, they failed to plan.
This is critical and I think, I know you.

Speaker 2 (01:34:59):
Got to make the time for it because the bottom
line is is that if you've accumulated enough money, you
can go through a lot of money real quick. With
healthcare today, you go through a lot of money real quick.
I mean my mother in law's bed with one thousand
dollars a day for her trick bet. One thousand dollars
a day for a trick bet. It doesn't take too
long before a thousand dollars adds up to be real money.
So you know, no one has a crystal ball of

(01:35:20):
our future. But there are ways that you can strategically, tactically,
you know, design your portfolio. I'm a huge advocate for
long term care insurance, huge advocate. I've seen it used,
I've seen what it does for people, and I understand
the benefit that it brings to the caregiver. Okay, they
get respite, they get some time from themselves. They have

(01:35:43):
the ability to have people come in and help out
in home, because that's where predominantly people want to be.
They want to be home, and.

Speaker 4 (01:35:50):
A lot of people want to be cared for by
their family.

Speaker 2 (01:35:54):
Absolutely. And one of the choices that we're going to
be talking about is the cash benefit absolutely through care matters,
where you get a cash benefit. You know, it doesn't
get paid to the provider, and you can take the money.
You can do whatever you want to do with it
as far as paying the caregivers, right.

Speaker 3 (01:36:10):
Yeah, there's a dual benefit option too, where there's death
benefits associated with these policies where a lot of people's issue,
at least that we've talked to, is I pay into
this policy and or my parents had this policy. They
paid into it for all these years, they never used it,
you know, they ended up dying and they paid all
this money into nothing.

Speaker 2 (01:36:30):
Ye, but now should I have the same analogy, Well,
I've paid you know, my house didn't burn down. They
got the insurance for all those years of my house
didn't burn down.

Speaker 3 (01:36:39):
You're right, but that's just you know, but now I'm
saying there's options out there to have people have a
dual benefit where they get the death benefit. You're getting
something out of it no matter what. So there's options
for everyone.

Speaker 4 (01:36:49):
Yep. And I'll tell you the most I think the
people that have the most peace of mind are the
one that know they can delegate risk elsewhere. You know,
work too hard for what we own, and if there's
ways that you can protect it, you got to do it.
I think what Special Cave just brought up the fact

(01:37:11):
is it takes that stigma away because long term care
can be expensive and people would rather know, Hey, we're
going to provide you a benefit that you're going to
use one way or the other.

Speaker 2 (01:37:25):
Yeah, it's either going to be a transfer of wealth
or it's going to be a benefit that will give
you a.

Speaker 4 (01:37:32):
Peace of mind. That's right, you know, So there's no
more excuses. And you know what part of our planning
process that I also love. How many times have we
sat with clients and told them that either they didn't
need long term care or we thought it was too
expensive for them. We have other strategies that we think

(01:37:55):
would benefit you. So it's not like we're itching to
take that applicant out and get time.

Speaker 2 (01:38:01):
Well, I think there's a couple of things that people
need to understand is that, you know, with children living
all over the country, this is especially too for a
lot of people, especially women, right, especially women, you know,
they live longer than the man. Typically they're going to

(01:38:21):
need the care and assistance more statistically than the male.
A lot of times the wife is the caregiver for
the husband until they just can't absolutely do it at
all anymore. So you know, there's been times in meetings
where we've made the decision that will do the estate planning,
will do the irrevocable trust, and we'll do all these

(01:38:42):
other things in order to protect the estate as much
as we can. But we're also going to have a
policy for the wife so she can have some choice
in independence if she wants to stay home, if she
wants to go to assistant living, because a lot of
these now will pay for all three, not only for

(01:39:02):
home care, assis still living, but a long term care facility.
And then you know, you make the selection that you
feel most comfortable with.

Speaker 4 (01:39:09):
I agree, and that's what it's all about, is giving
people options.

Speaker 2 (01:39:13):
So when are we gonna do this presentation? See if
you were listening.

Speaker 4 (01:39:16):
We're gonna do it on Thursday, November twentieth.

Speaker 2 (01:39:19):
No, that's a Wednesday.

Speaker 4 (01:39:20):
I knew that, Okay, I knew the day. Excuse me,
I knew the number. I'm good with numbers. If everybody
with the number, I'd never forget your name.

Speaker 2 (01:39:30):
All right, November twentieth. It's going to be at the
Desmond Crown Plaza. Registrations at six sixth presentations at six thirty.

Speaker 4 (01:39:38):
I knew that.

Speaker 2 (01:39:38):
And we'll have a little bit of picky foods for you,
some beverages, we'll do the presentation on healthcare, on long
term care options, and then we'll open it up for
Q and A. And to be honest with you, folks,
I think is probably one of, in my opinion, one
of the most critical decisions that you're going to make
in your pre and post retirement years.

Speaker 4 (01:39:58):
I agree, And I'll tell you we're very fortunate with
the people that we work with. They can take a
lot of the agony and frustration and the research out
of it. People will card, Yeah, it'll be good.

Speaker 3 (01:40:13):
Hopefully. We had a lot of people signing up right now.
There's we just added more seats, like you said, so
you grew.

Speaker 2 (01:40:20):
Up to one hundred seats.

Speaker 3 (01:40:20):
Now we always get a lot of good feedback.

Speaker 2 (01:40:23):
Yeah. So bottom I gets down to is that it's
an event that, as I said, it will be educational.
We're not going to alligator rustle you and say, you know,
do you want an appointment? If you want an appointment,
that's great. That's what we're here for to facilitate what
your wishes are. What the bottom line gets down to
is that just understand is that this we're going to
go through a lot of stuff in a very short

(01:40:44):
period of time and then open up up for I
think Q and A is important to question answered Q
and A and that here's the magical question for the day.
Can I get a drum roll? I ask you got
drum roll on.

Speaker 3 (01:40:58):
Christ?

Speaker 4 (01:40:59):
Because best I can?

Speaker 2 (01:41:00):
Okay, who's gonna win the game tonight? Game seven of
the World Series? The biggie?

Speaker 3 (01:41:07):
Who you got?

Speaker 2 (01:41:07):
Duker?

Speaker 3 (01:41:08):
I think the Dodgers. I'd like to see the Blue
Jays win, but I just think the Dodgers are too
much talent, too much firepower. Yeah, what was their payroll?
Just out of curiosity, does anybody have any idea? I
don't look it up right now?

Speaker 4 (01:41:21):
Yeah, well, Ohkanie with the one that signed that twenty
four hundred million?

Speaker 2 (01:41:25):
What your tools got four hundred million or four?

Speaker 4 (01:41:29):
With the seven hundred I thought it was.

Speaker 2 (01:41:31):
I think it was seven seven hundred million.

Speaker 4 (01:41:33):
My bad. Jeez, I can't get the right day. But
if Femini I can't get the Okanie's contract.

Speaker 3 (01:41:39):
Their payroll is three hundred in ninety six million.

Speaker 2 (01:41:43):
Oh my god.

Speaker 4 (01:41:44):
The twenty twenty five what were the what was the Yankees.

Speaker 2 (01:41:49):
Pierroll? Just out of curiosity on a comparison, Mmm, I'm
thinking it's a little bit less. We got thirty seconds, Chris,
come on, three hundred million, so about another hundred million
above the Yankees. All right, we'll be back again if

(01:42:09):
you want to attend the presentation November twentieth.

Speaker 3 (01:42:11):
And November twentieth is a Thursday. So that's what I said.
It's Thursday.

Speaker 4 (01:42:16):
Wow, thank you. Okay, that's what I said. It's Thursday.

Speaker 3 (01:42:19):
You said Wednesday.

Speaker 2 (01:42:20):
I thought it was Monday. Eighty eight five eat zero
one nine one nine eighty eight five eat zero one
nine one nine.

Speaker 6 (01:42:25):
If you want to attend, The information or services discussed
on this show is for informational purposes only and is
not intended to be personal financial advice.

Speaker 3 (01:42:39):
The investments and services offered by US may not be
suitable for all investors. If you have any doubts as
to the merits of an investment, you should seek advice
from an independent financial lif