Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
The information or services discussed on this show is for
informational purposes only, and it's not intended to be personal
financial advice. The investments and services offered by us may
not be suitable for all investors. If you have any
doubts as to the merits of an investment, you should
seek advice from an independent financial advisor.
Speaker 2 (00:28):
All right, hello and welcome.
Speaker 3 (00:34):
I am Nicolas Stumas, certified financial planner with the Retirement
Planning Group, and I have Chris McCarthy here.
Speaker 2 (00:42):
If you want to test your mic out.
Speaker 4 (00:45):
Hello, is this mic on?
Speaker 2 (00:47):
I got you?
Speaker 4 (00:48):
Okay?
Speaker 3 (00:49):
Oh, I just dropped my quarter. Oh I found this
on the ground. I'm getting paid to come in now,
that's right. Got twenty five cents.
Speaker 4 (00:56):
You could put down payment on a candy box.
Speaker 2 (01:01):
Thinks I'm gonna look around. I'm gonna find yours. There's
gotta be one.
Speaker 4 (01:05):
No, no, no, you leave my happiting room alone.
Speaker 2 (01:08):
That's get a gumball.
Speaker 3 (01:11):
But but we're here here to talk about pre and
post retirement planning.
Speaker 2 (01:15):
I want to talk about post retirement for a lot
of folks. Anyways, social security.
Speaker 3 (01:21):
I want to talk a little bit about social security
and uh, when it's right to take for certain individuals.
You know a lot of factors that we look at
before making that decision to tell our client to go
ahead and file and start receiving their benefit. You know,
I think a major one for for me is, you know,
(01:43):
other assets, what else do you have? You know, are
you reliant on Social Security? And if you're someone that is,
you know, maybe we look at delaying it as long
as possible to guarantee a higher income stream for the
rest of your life.
Speaker 4 (02:00):
You know.
Speaker 2 (02:00):
Health is another major factor.
Speaker 3 (02:03):
Your spouse is health, and you know and pretty much
you know what you plan on doing, how much you.
Speaker 4 (02:12):
Need, And like you said earlier, I mean it depends
on how dependent they are, how much picked income guaranteed
income they have in retirement. You know, years ago social
Security had god knows how many different strategies. They don't
have as many anymore. But still it's a conversation that
(02:34):
very important.
Speaker 3 (02:35):
I see a lot of people come in and they say, well,
if I wait until this.
Speaker 2 (02:39):
Age, I'm going to make more off social Security. Right, Well,
what if you start taking now?
Speaker 3 (02:45):
You know, you're missing out on twenty five thirty thirty
five thousand dollars a year if you don't start taking now,
you know, versus waiting three years, So you're already, you know,
potentially seventy five thousand or one hundred thousand dollars behind,
right if you do delay three years before you start taking.
So a lot of people try to do it as
(03:06):
a math problem, but that's not you know how I
like to look at it, right.
Speaker 4 (03:10):
I mean, I think it's also very important though, even
though I totally agree with you, but when you look
at the math, how many times we look at the
the break even point is anywhere from maybe seventy nine
to eighty two for a lot of people. And I
love when we break down the three cornerstones of retirement
(03:30):
the go go years, logo years, and no go years.
So a lot of people think, wow, I'm going to
get that bigger pay checker social Security check at sixty seven.
But the thing is, why do you want to have
more money later in life? You may not be able
to enjoy it.
Speaker 3 (03:48):
Yeah, I mean you see individuals come down with health issues,
that's right, No one sees those coming, So start living
your life.
Speaker 2 (04:00):
We generally tell people to do right.
Speaker 3 (04:02):
If you have all these if you have all this money,
saved up in a retirement account you're over the age
of fifty nine and a half or fifty five, you know,
for some folks that want to get out earlier rule
of fifty five, you could start accessing money off for
four o one ks. But again, if you have all
this money and retirement accounts, start thinking about how you
(04:23):
could turn that into an income stream, not only to
help complement social Security, but also just provide more income
to yourself. Right if you plan on working, A lot
of people need the mental engagement. I think of work
that it brings the social aspect of it.
Speaker 2 (04:42):
And they enjoy that.
Speaker 3 (04:43):
But if you don't want to work, you know, then
start looking at you know, four toroh one k account
sizes social Security income that's going to be available to you,
and starting mapping out a game plan, because the more
you push it down the road probably the well, maybe
the better you'll be, right because account size be higher
because it will keep contributing, but maybe mentally it'll be worse.
Speaker 4 (05:06):
I'll tell you a lot of clients are also taking
the social Security earlier and they're saving it, they're investing
it every month, so you know, who knows how much
more money they'll have and it's always accessible. Like we
preach your people. You said it a number of times.
(05:26):
Enjoy your life, use some money, yeah, you know, get
out and travel, do the things you've always wanted to do.
Don't wait until later on in life, and go jeef,
I should have could have done that. Do it, and
we encourage you the go.
Speaker 3 (05:44):
Go years and yeah, I mean, if you're something that
is going to work, clearly, don't start taking your Social
Security at sixty two. If you're gonna make above I
think it's twenty three thousand and some change. It might
be twenty four thousand now, but there's an income limit,
and if you go over that income limit while you're
receiving your Social Security, they'll start deducting, you know, a
(06:06):
dollar for every two dollars you make above it from
your social Security. So know what you're doing when you
turn that Social Security on. If you are someone that's
gonna keep working right through your full retirement age sixty seven,
you can start taking your Social Security at sixty seven,
and the sky's the limit from an income perspective, so
you can keep working after that. But again no as well,
(06:29):
you know a lot of times and families one spouse
will take off work and help the kids or help
raise the kids and stay home, and maybe they weren't
making money for a certain number of years, so their
social security.
Speaker 2 (06:42):
Clearly is going to be affected by that.
Speaker 3 (06:44):
And maybe their social security is not going to be
as high as yours, or it's going to be less
than half of yours, So their social security might be
dependent on yours as well. Because if you're married, then
you have what's called the spousal benefit available for your
spouse on that social security for the primary bread winner
(07:07):
as well. So if they wait until they're full retirement age,
and you wait until your full retirement age, you know,
then they're gonna be entitled the half of what your
full retirement age social security is.
Speaker 2 (07:18):
So there's a lot.
Speaker 3 (07:19):
Of planning around that, you know, and you can turn
it on at different points. The spousal benefits not available
until the primary spouse is receiving their income, you know,
their social security income. So again you need to know
the ins and outs before you can make an educated
decision on what makes the most sense for you.
Speaker 4 (07:38):
And I couldn't agree with you more. I think it's
just as important as any other phase of planning that
we do. You know, many times the breadwinner well maybe
delayed or social security because they want to build up
the highest amount per month, maybe to make sure that
they're going to provide a greater benefit to the spouse
(08:00):
if they predeceased them. So, yeah, it's a it's an
important conversation.
Speaker 3 (08:06):
Yeah, the widows benefit, the widowers benefit, right, So if
your spouse passed away, then you're entitled to their social
security as well. So if you're receiving less for your
own benefit, then you'll step up to theirs when they
when they pass away. So for a lot of folks,
they might be trying to just guarantee that higher income.
Speaker 2 (08:24):
Source for their their spouse.
Speaker 3 (08:27):
Now, if you're someone that has pension options too, so
if you have pension money coming into you, that might
make sense to start pulling your solid security, right because
you're probably not relying on that income stream. And uh
and really, just like you said, you could save it,
you can invest it. I have a client who started
taking red at sixty two and he trimmed off two
hundred thousand from a retirement account that's going to go
(08:50):
into an annuity that's going to pay out once he
hits age seventy and it's pretty much going to give
him what his Social Security would have been if he
delayed until seventy. Right, So he's receiving income from Social
Security over the first eight years, making sure he gets
his money worth from Social Security. But he's also got
you know, guaranteed annuity that's going to turn on an
(09:10):
income stream right at seventy for him too, to guarantee
an even higher income amount for the rest of his life.
Speaker 4 (09:17):
And I think you hit a very very important point
about guaranteed income. And we work with a number of
different avenues for people that may not have that New
York State pension or federal pension or wherever they may
be working, but we can This is all part of
the conversation. Just as important as Social Security is being
(09:42):
able to rely on an income that's guaranteed for the
rest of your life. It's all important, very important parts
of planning.
Speaker 3 (09:53):
Yeah, guaranteed income, Right, you want a paycheck when you
go into retirement, it's going to be very different. You're
going to have to be creative. And we do it
all the time on a daily basis with the investment management.
When I'm looking at a portfolio, I try to solve
their income needs. I don't try to solve what's going
to make them the most money, right, right, So you
need to account for their suitability, so how risky they
(10:17):
are as an investor and what they're looking to accomplish,
and we bring that back to the portfolio and that's
how we structure the investments within the account to you know,
give them peace of mind.
Speaker 2 (10:28):
Right. I talk about the wellness pyramid, you know.
Speaker 3 (10:32):
And trying to find that fulfillment and peace of mind
tier at the top. So if you want to call it,
it's well, if you want to call our office, it's
an eight eight eight five eight zero one nine one nine.
Speaker 2 (10:44):
Everyone, we're gonna take a quick break. We'll be back
right after this. And we're back right here on w
(11:11):
s y R.
Speaker 3 (11:12):
My name is Nicholas Thomas, certified Financial planner with the
Retirement Planning Group. Home base is in Malta, but we
do have a new office in Syracuse now, so we
are ready to roll.
Speaker 2 (11:25):
I think we're all moved in.
Speaker 3 (11:26):
We've got all of our desks and chairs set up,
and Chris was saying they got some new wood trim,
so it looks really nice and we're gonna put our
sticker on the wall, I think this week. So we're
out there, we're ready to start talking to people and
starting to you know, push our message out in the
Syracuse market and hopefully we get a lot of great clients.
(11:48):
We've already had a few that have come in. Yeah, great, great,
great people. I don't understand how they deal with the
snow and the random, you know, snow coming into the backyard.
But uh, you know, I love going out there, and
it's always amazing on the throughway.
Speaker 2 (12:05):
You know, that snow will just come out of nowhere.
Speaker 3 (12:07):
I remember last year going back and forth and I
had to pull off in one of the rest stops
just because it was so bad.
Speaker 4 (12:13):
Yep, yeah, you get those white outs. I went to
school in Buffalo a couple of years, so I've had
a little experience across the state there that.
Speaker 3 (12:22):
Was a couple of years ago. Probably got a lot
more snow back then, too.
Speaker 4 (12:26):
They did, they did. Winters are not the same, They're
not the same as they used to be.
Speaker 3 (12:32):
I hope we get some snow this year. And I'm
one of those guys. I do like the I like
the snow around Christmas time, even in the woods hunting.
You know, it's nice seeing some snow on the ground
and you can see the trails where the deer bin
and makes it easier a little bit. It makes it
tougher from a you know, it's freezing out there perspective,
(12:52):
but it does.
Speaker 4 (12:54):
But you know, every area the country have to deal
with something, and I'd love the Northeast. I just love it.
I'd love the seasons and everything. I'll take then, no problem.
Speaker 3 (13:04):
Yeah, So again, if you want to sit down and
have a chat about your personal financial situation, we'd be
happy to do that with you. What we do is
we send a questionnaire booklet out to you so you
can kind of map everything out. So it asks you like,
where's your four oh one K held, what's the account balance?
You know, which bank do you use, how much you
(13:25):
have the bank? Do you have any life insurance? What's
your current house value? Do you have a mortgage outstanding?
Speaker 2 (13:32):
On that?
Speaker 3 (13:33):
I'd ask you if you got your basic legal documents done,
whether that be a will, healthcare proxy, power of attorney?
Do you have any sort of trust set up the
state side of things. So we really do a holistic
type of approach to the planning process.
Speaker 2 (13:48):
Whereas in the past.
Speaker 3 (13:49):
You know, I think when when you were younger and
Dave growing up in the industry, you know, they did
a lot of just investment management, right it was a
lot of hey, buy this style, you know, it's really
hot right now, Whereas nowadays the financial services field really
shifted more towards a fiduciary type of role, as an advisor,
to where someone's gonna put them their their own thoughts,
(14:13):
They're gonna put themselves in your shoes and use their
thoughts and decide on what would be the best decisions
and best strategies for for what you have and what
you're looking to accomplish.
Speaker 4 (14:23):
Now, I tell you, I think we have a great team.
I think we compliment each other very very well. And
like you said, it's a very holistic it's uh it's thorough.
We do a very thorough job. The more you tell us,
the more we can help. And uh, I love our process.
It's usually a three meeting process. The first time you
(14:46):
come in, we get to know each other. Nobody's trying
to sell anybody anything. We just have a nice conversation.
The second meeting, we take what we learned about you
in the first and we talk a little more. We
have some ideas per recommendation. But what I love about
I think more than anything is the E Money software.
(15:07):
When we're able to put your financial situation up on
the screen, it's really I think where a lot of
clients become either very excited about their future or they
relax because they feel like, wow, we're going to be.
Speaker 3 (15:24):
Okay, especially with the new capabilities we have with the
Money with the my plan tool. It's a very informative
tool that is built into the software now to where
we could see retirement projections on an annual basis, and
it breaks it down to you know where the income's
coming from, whether it be Social Security, pension four oh
(15:46):
one K, retirement asset distributions, you know, so it shows
where the income's going to come from, what your expense
level can be in retirement, and then it shows the
asset level over time, so it'll show the future you know,
inheritance or legacy that you're gonna leave your children or
loved ones. So E Money's great, and I know you've
been doing a lot of work with it and kind
(16:07):
of seeing all the ins and outs. It's nice because
we put manual numbers in to start, but then you
can go through and even link accounts so that they
update on it.
Speaker 4 (16:17):
I mean, it even breaks down the R and DS
for everybody every year. I mean, it really gives you
a belly thorough concise look at what your financial picture
looked like today and in the future.
Speaker 3 (16:31):
Yeah, and a lot of people ask, you know, how
much am I gonna have to take? What's my rm
D gonna be? It's a great tool to forecast that.
You know that first year, you're when you hit seventy
three for a lot of folks out there, but others
it might be seventy five is when you're gonna start
taking R and ds. I think that gets pushed back
in twenty thirty three. So in twenty thirty three, the
(16:54):
rm D age is gonna change to seventy five if
you haven't reached it. But again, you can forecast how
much which the government's going to make you take off
your account because they want to tax you on those
dollars that you've deferred throughout your working career. So so
again you're gonna have requirementium distributions, You're gonna have soci
security hopefully available to you. For some folks, there'll be
(17:15):
a pension and then the retirement assets that you've accumulated
throughout your working years.
Speaker 4 (17:22):
And another beautiful thing is the first meeting, we digest
everything you share with us. The second meeting, you're going
to digest everything we share with you. And by the
third meeting we'll answer any other additional question and then
we find out is it going to be a good
pit Yeah, both of them.
Speaker 3 (17:40):
And our process is very easy. You know, the only
thing we need really our statements. So if you could
gather statements prior to that first appointment, we sit down
and we look at that helps us figure out how
you're invested currently, and that allows us to show you
some different pathways, right, so some different ideas may hey,
maybe we start are investing more into technology on the
(18:01):
equity side, or maybe we start incorporating bonds into the
portfolio for yield for cash flow. You know a lot
of people walk in the one hundred percent and five
hundred index extremely aggressive. They said, I don't know, I
just put it in that my whole life, you know,
which is probably done extremely well for him the last
sixteen years, specifically, I've been in a sixteen year bowl
(18:22):
market now, so again, there comes a point where you
need to change that mindset from the accumulation to income
distribution mindset.
Speaker 4 (18:31):
And especially the three bucket approach, which I think is excellent.
And it's difficult we empathize with people because you've been
saving all your life and the accumulation it's not going
to happen overnight. You're going to get into the income mindset.
But that's what we do that will will help you
(18:52):
get there. And we'll set up with the three bucket approach,
you know, with firm believers that some of the money
is still going to be in market. You don't bite
the hand to feed you. But also we're gonna, like
Nico said, we're gonna set up your nobody likes to
sell in a down market. That's why we had the
three bucket approach. So we're gonna be able to weather
(19:14):
just about anything that'll be down to vote. And but
we're gonna set you up where you're gonna be in
a place where you're gonna be able to get used
to spending your money.
Speaker 3 (19:25):
Yeah, you know a lot of times people call in
and say, hey, distributions are too high.
Speaker 2 (19:30):
I'm really not spending this money.
Speaker 3 (19:32):
So we're not gonna claim that tax liability if we
don't have to, but we do like sending a little
bit more to start right when you retire, just for
that initial point where you're adapting to retirement life, right,
So maybe you don't know what you're gonna spend on
groceries and entertainment and what you're really going to be
spending on your hobbies. So we'll typically send maybe a
(19:55):
little bit more than you actually need, and then we
can always adjust that. It's not like Social Security payment
or repenttion payment's gonna be an exact dollar amount for
the rest of your life, you know, even those that
have cost of living adjustments so they increase generally, but
your retirement income we can always adjust. You know, we
can go back and say, oh, we're starting to build
up too much cash at the bank, all right, so
we'll trim down distributions a little bit, manage the tax
(20:18):
liability a little bit better. But also you might be
someone that has you know, brought accounts or non qualified accounts.
These are assets we can utilize in retirement as well,
just so that everything's not coming off pre tax money,
so you're not tax dollar for dollar on the money.
Speaker 2 (20:35):
We sell the moneys we send out to.
Speaker 3 (20:36):
You if you are someone that it's maybe downsizing. I
talked about this on another show with Chris. I've seen
a lot of people downsizing their homes. They might be
moving from the four bedroom or three bedroom they had
when they had children to now they're retired, no kids
in the house, you know, it's just them. They're going
to a ranch. So they might be cashing out on
(20:58):
some equity from selling the current house which is larger
and maybe more room to getting into.
Speaker 2 (21:03):
A smaller house. You know, what are you gonna do
with that money?
Speaker 3 (21:06):
Right, You're just gonna park it at the bank, or
you could put it into an investment account and then
that account as long as it's managed, you know, tax wise,
it's not gonna trigger large tax liabilities to you if
you don't want it, that's right. You can look at
tax reemunantible bonds. You can look at exchange traded funds
which don't kick out capital gains. You know, you can
(21:28):
look at corporate bonds. You know, that would be a
tax liability, but again more interest focused in coupon and
cash flow. So now you can access that equity to
provide another retirement income source for you.
Speaker 4 (21:40):
Yep, I'll tell you. You know, we're all set up
with a three bucket approach and one people. We're also
seeing a lot of people selling their homes and renting.
You know, it depends on the person or the couple,
whatever is important to them, you know. But the thing is,
we have a billy fixed strategy on how we can
(22:02):
help people transition from working into retirement. I think another
interesting point that you were talking about earlier, and that
is we help people maybe take a little more money
out when they retire because maybe the income level and
retirement isn't the same as it was working. But again,
(22:23):
like Nico said, this is something we're in touch on
a regular basis. We tweak it depending on what you
need at that time and in the future.
Speaker 3 (22:34):
Yeah, and go, go spend, spend. You stop looking at
my quarter. He's looking at my quarter.
Speaker 4 (22:39):
And I'm looking at it. I'm looking at that down
payment on the Snickers.
Speaker 2 (22:44):
I'll give it to you to write your apartment and
I thank you.
Speaker 4 (22:47):
I'll have one more mom that I call you.
Speaker 3 (22:50):
When I call the office five one eight, five eight
zero one nine one nine. In our office numbers five
one eight five eight zero one nine one nine UH,
(23:23):
and we're back everyone. Thanks for taking the time today
to listen to our radio show. My name is Nico Dumas,
certified financial planner with the Retirement Planning Group.
Speaker 2 (23:35):
We're here each week on w s y R.
Speaker 3 (23:37):
Now we do have an office UH in Syracuse and
we're ready to sit down and meet with you and
UH and make sure that we can help you. I
think that's the main point of this and our business
is to help folks and and make sure that they
feel comfortable with their retirement years and that they're not
(23:58):
stressed out about about money either, more focused on family
and friends and enjoying themselves in retirement.
Speaker 4 (24:06):
So I think another thing I couldn't agree with you more,
and I think our process, because it's a three meeting process,
I think people are more at ease knowing that the
first meeting we're just going to get to know each other.
We need to go over what you have, where you're
at today, where do you want to be, what your
(24:28):
goals are. And then the second meeting that when we
really start to implement the information from the first meeting,
we start to begin some recommendations. We put you up
in money you can really get to see where your
financial life is today and where it could be in
the future. And I think that's where the excitement really comes.
Speaker 3 (24:52):
Yeah, so get hold of us. You can go through
our website. It's rpgretired dot com. It's RPG retire dot
com right at the homepage. If you scroll all the
way down to the bottom. Send us a message say, hey,
you know, Joe, I'm fifty five years old. I want
to retire in a couple of years. What can you
(25:14):
guys do for me? You know, we'll get back to
you and try to set up that initial phone call
to sit down with you. No, the only the worst
thing that can come out of this is that you
get everything organized, right. That's what we really try to
push people to do, is get organized. If you have
all these old four to one K and retirement accounts
spread out from old employers, or maybe you just opened
(25:36):
a bunch of different accounts for different reasons, I don't know,
start simplifying, start consolidating so that you can start visualizing
what the retirement game plan is going to look like,
and where that money's gonna come from, and how we're
going to solve that income need when you do retire.
Speaker 4 (25:52):
So yeah, no, it's gonna say.
Speaker 2 (25:54):
In addition, take the floor, take the floor.
Speaker 4 (25:56):
No. I think what I'd love about are off it
is we don't have minimum. I love that. We will
talk to anyone that wants to be helped, and we
will give you every bit of as much effort. You know,
we don't care if you have a dollar or you
(26:18):
have one hundred million. Everybody's important. If you take the
time you want to meet with us, we're going to
give you everything we got.
Speaker 2 (26:26):
Yeah for the most part.
Speaker 4 (26:28):
All right, except for that quarter that you found on them.
Speaker 2 (26:30):
I'm not giving them my quarter.
Speaker 4 (26:31):
No, no, nope, no.
Speaker 2 (26:34):
We'll do it. We'll do our best.
Speaker 3 (26:36):
You know, we do have to act in a fiduciary capacity,
so we put ourselves in your shoes, try to act
in your best interest and make those decisions that that
we think are are best for you. So if you
want someone to help you know and and take a
look at your portfolio, we'd be happy to be those
those individuals for you. We have software programs that we
(26:56):
can review how you're invested currently and see what would
kick back as far as a risk tolerance score, and
relay that back to relate that back to what your
actual risk tolerance score is and make sure it's suitable
for where you're at and what you're looking to accomplish
out of your portfolio.
Speaker 2 (27:13):
So again that's called nitrogen.
Speaker 3 (27:15):
Now. It used to be riskalized, but I believe that
I bought out and it does a great job.
Speaker 2 (27:21):
We use it for models as well.
Speaker 3 (27:23):
When we're developing our models and portfolios for clients, we
utilize riskal eyes to help us figure out how much
exposure to different sectors and also you know, weighted yield
off of portfolio. A lot of our clients are looking
for income versus growth, so they want more income and
(27:45):
cash flow in their account. We're able to do that
through corporate bond offerings and covered call ETFs or even
individual covered calls.
Speaker 2 (27:53):
We do that quite a bit for folks.
Speaker 3 (27:54):
But we're out there browsing the market and trying to
choose the best position that we see fit for our portfolios, and.
Speaker 4 (28:03):
I think a lot of people really enjoy. We want
people to understand what we're doing and why we're doing it.
I think it's very very important, not that people want
to share every single detail about every single investment we use,
but there's a reasoning behind. We just don't come right
(28:24):
out and say, oh, we're going to put you in
a sixty forty because that's what you're taught, That's what
I was taught forty years ago. Yeah, there's a reasoning
behind what we're doing and why we're doing it. And
I take a lot of pride I know you do too,
when people can talk to someone else and say, you know,
(28:45):
I actually understand what we're doing and why we're doing it,
and I think it's important for everybody to be on
the same page. I can't tell you how many times
people come in and they really don't even know what
they have.
Speaker 3 (29:00):
Yeah, they just come in with the account statements, you know.
So a lot of times they'll get a monthly statement
or quarterly statement. They'll bring those in, or they'll bring
in these big variable annuity products that they don't understand,
and we'll go through all the benefits with those products.
You know, a lot of the times we don't end
up doing anything with those variable annuities. They might be
(29:20):
great products and they fit what they were looking to accomplish.
But other times we may take those things and try
to get out right right because they might have pensions
and social Security and all these guaranteed income sources. Maybe
they don't need a variable annuity, And I'm not sure
why the advisor put them in that, right, you know,
other than liquidity purposes lack of liquidity with these annuities
(29:44):
depending on which product you're in. And again we look
at these annuities and just tell them what they have
and make a decision on what makes the most sense
for that.
Speaker 4 (29:55):
No, I totally agree with you, Niko, and a lot
of people. You said that a lot of people are
involved with things they don't either understand or we question
sometimes why do you advisor put a minute in the
first place. So if you have something that's good, we're
going to be the first one to tell you keep it.
(30:18):
If you are things out there that are not clicking
with maybe what your overall strategy is, we're not going
to be afraid to tell you.
Speaker 2 (30:27):
Yeah.
Speaker 3 (30:28):
And it's important to you know, get in front of
the ball quick right. The sooner you start making changes,
the sooner the faster they'll help your retirement out right.
So if you delay, delay, delay, and procrastinate, it's not
going to be your friends, it's not going to help
you visualize that retirement and start mapping out a game plan.
(30:49):
So so call today the numbers UH five one eight
five eight zero one nine one nine. Toll free is
eight eight eight five eight zero one nine one nine.
Or visit us on the web which I want to.
I want to do a quick promo with a website. Www.
Dot rpg retire dot com. Can send us an email.
(31:12):
It's just bread. At the bottom of the front page.
There's a have a question box and you can send,
you know, a quick question to us or try to
set up an appointment through that. And there's there's articles too,
So we have articles on our homepage. This week it
says you know nine facts about retirement. There's eighteen years
worth of days, so retirement lasts for eight If the
(31:35):
average retirement lasts for eighteen years, what will you do
with your days?
Speaker 2 (31:39):
And there's also a look at systematic withdrawals.
Speaker 3 (31:41):
There's a calculator that helps you plan out withdraws off
retirement assets. And then there's another article on inflation and
how it affects your money. So use those resources. We've
got many more tools. Like I said, we have riskal eyes,
we have e money, so we could put you in
these different software programs really make sure you feel comfortable
(32:01):
with everything going on and how your portfolio is invested
and you know where future income is gonna come from.
Speaker 4 (32:08):
We also have very strong alliances that alliance it. But
we know many estate planning attorneys CPA. We are not attorneys,
we are not accountant, but we've been around the block.
I think we know enough to be dangerous and we
certainly know enough that if you're a perfect candidate to
(32:31):
sit downward an attorney, we're gonna touch. Yeah.
Speaker 3 (32:34):
I think we do a lot of estate planning work
and making sure that your your nest egg is protected right.
A lot of people just want protection right for themselves,
for their family and for their kids. So if you
want to call our office again, that number is eight
eight eight five eight zero nine one nine. We're not
there right now, but leave a message and we'll make
(32:56):
sure to get back to you next week.
Speaker 4 (33:12):
In f m.
Speaker 2 (33:18):
H m hm, and we are back.
Speaker 3 (33:24):
No, I have never been to uh to Nashville. We
were talking over the break the Big Man, which a
lot of you are probably wondering about. Dave Kopek. He's
usually on the show on on the weekends. He's out
in Tennessee. He's in Knoxville, so he's out there for
a wedding, so he figured we would try to cover
(33:45):
for him.
Speaker 2 (33:46):
Hopefully we're doing it all right. Job. I think we
I think we are. I haven't. I haven't stuttered too
much today, so.
Speaker 4 (33:52):
We haven't studied at all.
Speaker 2 (33:55):
You and I got a quarter out of it. I'm
really glad I came.
Speaker 4 (33:58):
Here up in large, baby.
Speaker 3 (34:01):
So get me like it'll give me a sixteenth of
a tank of a gallon of gas. But no, I
think we've we've had a really good show so far.
But again, we were talking about the website. I just
want to make sure everyone's aware of that. Rpg retire
dot com. If you want to visit our website, you
can see all our faces. You can, you know, play
with the different calculators and whatnot. And I believe we
(34:22):
have a blog. It also shows past shows on there,
so feel free to check it out or just give
us a call at the office eight eight eight five
eight zero.
Speaker 4 (34:32):
I'll tell you, and yeah, let's get together. You know,
we've got a three meeting process. The first meeting.
Speaker 2 (34:39):
Visit our new office. You can see our new digs.
Speaker 4 (34:42):
I'm looking forward to it.
Speaker 2 (34:44):
Yeah, I really.
Speaker 3 (34:45):
Looks banking new office we've got we've got a conference room,
We've got uh an office, and then we've got a
nice little waiting room fu time.
Speaker 2 (34:55):
No, we don't have a fut time. No, we got
a couple of chairs. I was trying to talk Dave
into that, because then we won't have to spend on hotels.
That's right, if you just sleep in the office.
Speaker 4 (35:06):
And put a lot of quarter down the floor and
we'll do a little quarter hunt right neck to the
Easter egg hunt.
Speaker 2 (35:13):
There we go.
Speaker 4 (35:15):
But no, yeah, I love working out in Syracuse, you know,
and uh I got some very good friends, very good
business acquaintances.
Speaker 3 (35:23):
You know what else is in Syracuse? Tullies the best
places there is. Do you ever go to Tullies?
Speaker 4 (35:31):
Oh? Yes, yes I did?
Speaker 2 (35:33):
With the chicken tenders?
Speaker 4 (35:35):
Oh I did? I did? Is it the Chinese?
Speaker 3 (35:39):
They have a Chinese the Asian? Those are so good,
good stuff. And then there was a little ranch dipping
sauce in there.
Speaker 4 (35:47):
Don't get me going had lunch yet?
Speaker 2 (35:49):
French fries?
Speaker 3 (35:50):
Oh boy, I'm doing a botch Abachi. I told you,
I know you are going to Ubachi tonight. So I'm
gonna go get some uh pork fried rice, little chicken,
little steak. I don't I'm gonna be asleep by seven.
Speaker 2 (36:05):
It was a long day. We've been on the radio
all day.
Speaker 4 (36:08):
I know you're just you are the man. You are
a great mc oh.
Speaker 2 (36:14):
I appreciate it.
Speaker 3 (36:15):
If only I could play some music, I'd start, I'd
start playing my Scottie Staff.
Speaker 4 (36:19):
But what the other place, uh Brooklyn Pickle.
Speaker 2 (36:25):
Sandwiches or the size of my iPad over here?
Speaker 4 (36:28):
I love that. I'm looking forward to going to more places.
Speaker 3 (36:34):
Yeah, yeah, so we'll have to get out there. We're
also gonna meet with people while we're out. While we're
out there, We're not just gonna eat.
Speaker 4 (36:41):
But maybe we'll take him out there we go.
Speaker 3 (36:44):
I heard there's a good Italian I think it's Francesca's.
There's an Italian joint out there that a lot of
people are saying. Uh, so I'm gonna wanta to check
that out, maybe for dinner. I think I've got a
two day in Syracuse coming up in a couple of weeks,
so maybe that Wednesday night will go out to Francesca's
or something.
Speaker 2 (37:02):
But anyways, I digress.
Speaker 3 (37:04):
Sorry, So yes, we we help folks of all different
shapes and sizes with their retirement planning needs. You know,
we meet with children of clients as well. I think
it's always great getting the children in and starting that
family engagement and really you know, putting a face to
a name, because a lot of our clients just say, hey,
if anything ever call happens to me, call Chris McCarthy.
Speaker 2 (37:27):
And actually being able to meet Chris McCarthy.
Speaker 3 (37:30):
I think it's going to help them out a lot
and you know, make them feel a lot more comfortable.
If something does you know, happen to the clients of.
Speaker 4 (37:39):
Ours, I think it's you know, as much as we
encourage it. I think it's very important for the kid
to know what the parents have gone. But I also
see a lot of people are just naturally coming in
with the parents and the kid. It's all one big
appointment and we love it because, like you said, it's
all about building relationship and the more people we know
(38:04):
that are going to be affected, the better job. And
it's one phone call. I think that's another thing you
were talking about, how we help people simplify and consolidate,
especially when something difficult happen and they know they have
one phone call, not ten one, and then we're there.
(38:26):
We're there to service them from day.
Speaker 2 (38:28):
One and one death certificate.
Speaker 3 (38:30):
Also, if you have all of your assets spread out
between different mutual fun companies and different custodians, you're gonna
need to get a death certificate for each one of
those custodians. You know, that's a lot of work, whereas
just having one advisor, having all of your assets at
one firm and being able to hand over the steering
(38:53):
wheel or the you know, the spoon. If you're going
to be the kitchen, the chef, you know, you hand
over the spoon so I could start, you know, making
the sauce right. You know, we'll be able to see
how everything's invested if you just peace mail it. You know,
this advisor is not going to see what that advisor's
buying or with that advisor's selling. You know, so you
might have a lot of overlap between accounts, and we
(39:14):
see that quite a bit. You know, you got this
old four ROH one k that's in a large cap
growth fund, maybe it's a t ro Price large cap growth,
and then you have this other account it's in a
JP Morgan large cap growth. You know, it's probably the
same exact positions in the fund, right, so you probably
have a lot of overlap there, So start diversifying. I
(39:34):
think I've heard for a lot of market out market outlook,
and chief investment officers at Fidelity discussing their future outlook.
And we've been carried by the fang stocks, you know,
those major the big seven you're in, Nvidia, Facebook, Amazon, Apple, Google,
you know, all those big companies have been carrying the market.
(39:57):
We might start seeing more of a broad base rally soon.
Do you have exposure to mid caps and financials? Do
you have exposure to international? Internationals had a thirty percent
return year to date, which is, you know, incredible, They're
outperforming domestic equities, So do you have some international exposure?
(40:17):
You need to be aware of how you're invested, and
you know, maybe it is a good time to start
trimming from the S and P five hundred index that
you're in and getting it into some sort of mid
cap or financial etf And you know, you need to
put some thought in how you have your money invested,
because we're probably talking you know, hundreds of thousands of
(40:38):
dollars maybe millions for some of for some of you
out there.
Speaker 4 (40:42):
I think it's also very important because you were talking
about not only the pusifying within a stock portfolio, but
also because the markets are there all time high, maybe
this is time to start skimming off some of those
stock position and getting into more FIC income and maybe
(41:03):
cash position to start your retirement game plan and get
it up and running. We're firm believers in diversification, but
we also think it's like Niko was saying, there's a
lot of overlap, and sometimes there's a lot of overtill
(41:24):
I think people are When we're looking at people and
we're sitting down, we want to give them the best
large cap growth position that we research, as well as
large cap blend, mid cap, small cap. It doesn't matter.
We're trying to find the best of each sector. And
then instead of we had one gentleman come in a
(41:49):
friend of mine, and he wanted us to look over
his portfolio two hundred and twenty positions.
Speaker 2 (41:57):
It's incredible, it's.
Speaker 4 (41:58):
Insane, you know. So we're firm believers. We'd rather see
not a lot of overlap and that you're touching on
key sectors in the market and getting into the best
fund or ETF for that sector. So again, we have
a lot of fun and we love what we do
(42:20):
and we work hard at talking to many company wholesale
they come in, they educate us on what they're inside,
financial analysts are saying, as well as us staying in
touch with Fidelity.
Speaker 3 (42:36):
Yeah, portfolio construction is huge. Now we can do individual
stocks for people too, So if you want your Nvidia
or your Palenteer, your Oaklow, there's a bunch of individual
stocks out there that.
Speaker 2 (42:49):
We do hold in our portfolio.
Speaker 3 (42:52):
So we do have those capabilities as well for those
younger clients that want to be a little bit more aggressive,
is a little bit more risky. So again you know
you don't know which you don't know, So the first
step is to call us and we could set up
that initial conversation. It's completely free to you. The worst
thing you'll get out of it is a bad cup
(43:13):
of coffee, so or a little mini water. I think
we got those mini waters. But again, you just gotta
give us a call. So that's the first call to
action is on you. So again, our numbers eight eight
eight five eight zero, or you can visit us on
our website at www dot rpg retire dot com.
Speaker 2 (43:37):
So again, we do have that new office out there.
Speaker 3 (43:39):
I'm super excited to get out there and sit down
and meet with people in the conference room and go
to Tully's and Francesca's and Dinosaur Barbecue and all those
amazing food places out there.
Speaker 2 (43:50):
The Brooklyn Pickle.
Speaker 4 (43:51):
I'm I'm pumped. Yeah, And I can't say it enough.
We have no minimum, so we don't care what your
asset size is. You know. We want to talk to
people that want to be talked to and we're gonna
do the best we can and hopefully we're gonna get
(44:14):
more and more clients.
Speaker 2 (44:15):
Hard working savers.
Speaker 3 (44:16):
Yes, we worked with a lot of GRID guys, National
Grid guys I know are in the area out in Syracuse.
Speaker 2 (44:22):
We've got a big barn out there.
Speaker 3 (44:24):
So if you're someone that wants to come in and
review your you know, four to one K assets with
Grid or your cash balance pension plan, they've got the
cash balance available to them. We know a lot of
information about that, and we've done seminars and uh we
just went to their clan bake out there a few
weeks ago, so that was a great event and they
got a beautiful day for that, so it was a
(44:46):
great time. And you know, there's a lot of great people
in Syracuse, a lot of great things to do, So
give us a reason to come out there. Make sure
you book an appointment. You just need to speak to
Jim Corkoran in our office. Uh so again, ask for
Jim Corkoran and he'll get you on the schedule with
one of our advisors. Here our numbers eight eight eight
five eight zero one nine one nine. Again, you could
dial eight eight eight five eight zero one nine one nine.
(45:09):
Just leave a message for Jim Corcoran and uh and
he'll make sure to get back to you next week
and we'll get you on the calendar.
Speaker 2 (45:16):
Yes, got anything else to say? I think we're running
up on the end of the show here.
Speaker 4 (45:20):
No, it's just uh, I've been in the business a
long time, forty years, and I'm proud to say that
this is the best team I've ever been a part of.
I think we have a lot of fun. We worked hard,
we compliment each other, and uh, we'd love to meet you.
Speaker 2 (45:37):
You're going to the gym after this?
Speaker 4 (45:39):
I am not.
Speaker 3 (45:40):
I'm gonna got your gym shirt on. I do the
thumbs up. I do what I can, all right, well,
I'm going to the gym. You go to the gym,
all right, everyone, thanks for listening eight eight eight five
eight zero one nine one nine.
Speaker 2 (45:54):
We'll be back again next week.
Speaker 4 (45:55):
I have a great day.
The information or services discussed on this show is for
informational purposes only, and it's not intended to be personal
financial advice. The investments and services offered by us may
not be suitable for all investors. If you have any
doubts as to the merits of an investment, you should
seek advice from an independent financial advisor.
Speaker 2 (00:28):
All right, hello and welcome.
Speaker 3 (00:34):
I am Nicolas Stumas, certified financial planner with the Retirement
Planning Group, and I have Chris McCarthy here.
Speaker 2 (00:42):
If you want to test your mic out.
Speaker 4 (00:45):
Hello, is this mic on?
Speaker 2 (00:47):
I got you?
Speaker 4 (00:48):
Okay?
Speaker 3 (00:49):
Oh, I just dropped my quarter. Oh I found this
on the ground. I'm getting paid to come in now,
that's right. Got twenty five cents.
Speaker 4 (00:56):
You could put down payment on a candy box.
Speaker 2 (01:01):
Thinks I'm gonna look around. I'm gonna find yours. There's
gotta be one.
Speaker 4 (01:05):
No, no, no, you leave my happiting room alone.
Speaker 2 (01:08):
That's get a gumball.
Speaker 3 (01:11):
But but we're here here to talk about pre and
post retirement planning.
Speaker 2 (01:15):
I want to talk about post retirement for a lot
of folks. Anyways, social security.
Speaker 3 (01:21):
I want to talk a little bit about social security
and uh, when it's right to take for certain individuals.
You know a lot of factors that we look at
before making that decision to tell our client to go
ahead and file and start receiving their benefit. You know,
I think a major one for for me is, you know,
(01:43):
other assets, what else do you have? You know, are
you reliant on Social Security? And if you're someone that is,
you know, maybe we look at delaying it as long
as possible to guarantee a higher income stream for the
rest of your life.
Speaker 4 (02:00):
You know.
Speaker 2 (02:00):
Health is another major factor.
Speaker 3 (02:03):
Your spouse is health, and you know and pretty much
you know what you plan on doing, how much you.
Speaker 4 (02:12):
Need, And like you said earlier, I mean it depends
on how dependent they are, how much picked income guaranteed
income they have in retirement. You know, years ago social
Security had god knows how many different strategies. They don't
have as many anymore. But still it's a conversation that
(02:34):
very important.
Speaker 3 (02:35):
I see a lot of people come in and they say, well,
if I wait until this.
Speaker 2 (02:39):
Age, I'm going to make more off social Security. Right, Well,
what if you start taking now?
Speaker 3 (02:45):
You know, you're missing out on twenty five thirty thirty
five thousand dollars a year if you don't start taking now,
you know, versus waiting three years, So you're already, you know,
potentially seventy five thousand or one hundred thousand dollars behind,
right if you do delay three years before you start taking.
So a lot of people try to do it as
(03:06):
a math problem, but that's not you know how I
like to look at it, right.
Speaker 4 (03:10):
I mean, I think it's also very important though, even
though I totally agree with you, but when you look
at the math, how many times we look at the
the break even point is anywhere from maybe seventy nine
to eighty two for a lot of people. And I
love when we break down the three cornerstones of retirement
(03:30):
the go go years, logo years, and no go years.
So a lot of people think, wow, I'm going to
get that bigger pay checker social Security check at sixty seven.
But the thing is, why do you want to have
more money later in life? You may not be able
to enjoy it.
Speaker 3 (03:48):
Yeah, I mean you see individuals come down with health issues,
that's right, No one sees those coming, So start living
your life.
Speaker 2 (04:00):
We generally tell people to do right.
Speaker 3 (04:02):
If you have all these if you have all this money,
saved up in a retirement account you're over the age
of fifty nine and a half or fifty five, you know,
for some folks that want to get out earlier rule
of fifty five, you could start accessing money off for
four o one ks. But again, if you have all
this money and retirement accounts, start thinking about how you
(04:23):
could turn that into an income stream, not only to
help complement social Security, but also just provide more income
to yourself. Right if you plan on working, A lot
of people need the mental engagement. I think of work
that it brings the social aspect of it.
Speaker 2 (04:42):
And they enjoy that.
Speaker 3 (04:43):
But if you don't want to work, you know, then
start looking at you know, four toroh one k account
sizes social Security income that's going to be available to you,
and starting mapping out a game plan, because the more
you push it down the road probably the well, maybe
the better you'll be, right because account size be higher
because it will keep contributing, but maybe mentally it'll be worse.
Speaker 4 (05:06):
I'll tell you a lot of clients are also taking
the social Security earlier and they're saving it, they're investing
it every month, so you know, who knows how much
more money they'll have and it's always accessible. Like we
preach your people. You said it a number of times.
(05:26):
Enjoy your life, use some money, yeah, you know, get
out and travel, do the things you've always wanted to do.
Don't wait until later on in life, and go jeef,
I should have could have done that. Do it, and
we encourage you the go.
Speaker 3 (05:44):
Go years and yeah, I mean, if you're something that
is going to work, clearly, don't start taking your Social
Security at sixty two. If you're gonna make above I
think it's twenty three thousand and some change. It might
be twenty four thousand now, but there's an income limit,
and if you go over that income limit while you're
receiving your Social Security, they'll start deducting, you know, a
(06:06):
dollar for every two dollars you make above it from
your social Security. So know what you're doing when you
turn that Social Security on. If you are someone that's
gonna keep working right through your full retirement age sixty seven,
you can start taking your Social Security at sixty seven,
and the sky's the limit from an income perspective, so
you can keep working after that. But again no as well,
(06:29):
you know a lot of times and families one spouse
will take off work and help the kids or help
raise the kids and stay home, and maybe they weren't
making money for a certain number of years, so their
social security.
Speaker 2 (06:42):
Clearly is going to be affected by that.
Speaker 3 (06:44):
And maybe their social security is not going to be
as high as yours, or it's going to be less
than half of yours, So their social security might be
dependent on yours as well. Because if you're married, then
you have what's called the spousal benefit available for your
spouse on that social security for the primary bread winner
(07:07):
as well. So if they wait until they're full retirement age,
and you wait until your full retirement age, you know,
then they're gonna be entitled the half of what your
full retirement age social security is.
Speaker 2 (07:18):
So there's a lot.
Speaker 3 (07:19):
Of planning around that, you know, and you can turn
it on at different points. The spousal benefits not available
until the primary spouse is receiving their income, you know,
their social security income. So again you need to know
the ins and outs before you can make an educated
decision on what makes the most sense for you.
Speaker 4 (07:38):
And I couldn't agree with you more. I think it's
just as important as any other phase of planning that
we do. You know, many times the breadwinner well maybe
delayed or social security because they want to build up
the highest amount per month, maybe to make sure that
they're going to provide a greater benefit to the spouse
(08:00):
if they predeceased them. So, yeah, it's a it's an
important conversation.
Speaker 3 (08:06):
Yeah, the widows benefit, the widowers benefit, right, So if
your spouse passed away, then you're entitled to their social
security as well. So if you're receiving less for your
own benefit, then you'll step up to theirs when they
when they pass away. So for a lot of folks,
they might be trying to just guarantee that higher income.
Speaker 2 (08:24):
Source for their their spouse.
Speaker 3 (08:27):
Now, if you're someone that has pension options too, so
if you have pension money coming into you, that might
make sense to start pulling your solid security, right because
you're probably not relying on that income stream. And uh
and really, just like you said, you could save it,
you can invest it. I have a client who started
taking red at sixty two and he trimmed off two
hundred thousand from a retirement account that's going to go
(08:50):
into an annuity that's going to pay out once he
hits age seventy and it's pretty much going to give
him what his Social Security would have been if he
delayed until seventy. Right, So he's receiving income from Social
Security over the first eight years, making sure he gets
his money worth from Social Security. But he's also got
you know, guaranteed annuity that's going to turn on an
(09:10):
income stream right at seventy for him too, to guarantee
an even higher income amount for the rest of his life.
Speaker 4 (09:17):
And I think you hit a very very important point
about guaranteed income. And we work with a number of
different avenues for people that may not have that New
York State pension or federal pension or wherever they may
be working, but we can This is all part of
the conversation. Just as important as Social Security is being
(09:42):
able to rely on an income that's guaranteed for the
rest of your life. It's all important, very important parts
of planning.
Speaker 3 (09:53):
Yeah, guaranteed income, Right, you want a paycheck when you
go into retirement, it's going to be very different. You're
going to have to be creative. And we do it
all the time on a daily basis with the investment management.
When I'm looking at a portfolio, I try to solve
their income needs. I don't try to solve what's going
to make them the most money, right, right, So you
need to account for their suitability, so how risky they
(10:17):
are as an investor and what they're looking to accomplish,
and we bring that back to the portfolio and that's
how we structure the investments within the account to you know,
give them peace of mind.
Speaker 2 (10:28):
Right. I talk about the wellness pyramid, you know.
Speaker 3 (10:32):
And trying to find that fulfillment and peace of mind
tier at the top. So if you want to call it,
it's well, if you want to call our office, it's
an eight eight eight five eight zero one nine one nine.
Speaker 2 (10:44):
Everyone, we're gonna take a quick break. We'll be back
right after this. And we're back right here on w
(11:11):
s y R.
Speaker 3 (11:12):
My name is Nicholas Thomas, certified Financial planner with the
Retirement Planning Group. Home base is in Malta, but we
do have a new office in Syracuse now, so we
are ready to roll.
Speaker 2 (11:25):
I think we're all moved in.
Speaker 3 (11:26):
We've got all of our desks and chairs set up,
and Chris was saying they got some new wood trim,
so it looks really nice and we're gonna put our
sticker on the wall, I think this week. So we're
out there, we're ready to start talking to people and
starting to you know, push our message out in the
Syracuse market and hopefully we get a lot of great clients.
(11:48):
We've already had a few that have come in. Yeah, great, great,
great people. I don't understand how they deal with the
snow and the random, you know, snow coming into the backyard.
But uh, you know, I love going out there, and
it's always amazing on the throughway.
Speaker 2 (12:05):
You know, that snow will just come out of nowhere.
Speaker 3 (12:07):
I remember last year going back and forth and I
had to pull off in one of the rest stops
just because it was so bad.
Speaker 4 (12:13):
Yep, yeah, you get those white outs. I went to
school in Buffalo a couple of years, so I've had
a little experience across the state there that.
Speaker 3 (12:22):
Was a couple of years ago. Probably got a lot
more snow back then, too.
Speaker 4 (12:26):
They did, they did. Winters are not the same, They're
not the same as they used to be.
Speaker 3 (12:32):
I hope we get some snow this year. And I'm
one of those guys. I do like the I like
the snow around Christmas time, even in the woods hunting.
You know, it's nice seeing some snow on the ground
and you can see the trails where the deer bin
and makes it easier a little bit. It makes it
tougher from a you know, it's freezing out there perspective,
(12:52):
but it does.
Speaker 4 (12:54):
But you know, every area the country have to deal
with something, and I'd love the Northeast. I just love it.
I'd love the seasons and everything. I'll take then, no problem.
Speaker 3 (13:04):
Yeah, So again, if you want to sit down and
have a chat about your personal financial situation, we'd be
happy to do that with you. What we do is
we send a questionnaire booklet out to you so you
can kind of map everything out. So it asks you like,
where's your four oh one K held, what's the account balance?
You know, which bank do you use, how much you
(13:25):
have the bank? Do you have any life insurance? What's
your current house value? Do you have a mortgage outstanding?
Speaker 2 (13:32):
On that?
Speaker 3 (13:33):
I'd ask you if you got your basic legal documents done,
whether that be a will, healthcare proxy, power of attorney?
Do you have any sort of trust set up the
state side of things. So we really do a holistic
type of approach to the planning process.
Speaker 2 (13:48):
Whereas in the past.
Speaker 3 (13:49):
You know, I think when when you were younger and
Dave growing up in the industry, you know, they did
a lot of just investment management, right it was a
lot of hey, buy this style, you know, it's really
hot right now, Whereas nowadays the financial services field really
shifted more towards a fiduciary type of role, as an advisor,
to where someone's gonna put them their their own thoughts,
(14:13):
They're gonna put themselves in your shoes and use their
thoughts and decide on what would be the best decisions
and best strategies for for what you have and what
you're looking to accomplish.
Speaker 4 (14:23):
Now, I tell you, I think we have a great team.
I think we compliment each other very very well. And
like you said, it's a very holistic it's uh it's thorough.
We do a very thorough job. The more you tell us,
the more we can help. And uh, I love our process.
It's usually a three meeting process. The first time you
(14:46):
come in, we get to know each other. Nobody's trying
to sell anybody anything. We just have a nice conversation.
The second meeting, we take what we learned about you
in the first and we talk a little more. We
have some ideas per recommendation. But what I love about
I think more than anything is the E Money software.
(15:07):
When we're able to put your financial situation up on
the screen, it's really I think where a lot of
clients become either very excited about their future or they
relax because they feel like, wow, we're going to be.
Speaker 3 (15:24):
Okay, especially with the new capabilities we have with the
Money with the my plan tool. It's a very informative
tool that is built into the software now to where
we could see retirement projections on an annual basis, and
it breaks it down to you know where the income's
coming from, whether it be Social Security, pension four oh
(15:46):
one K, retirement asset distributions, you know, so it shows
where the income's going to come from, what your expense
level can be in retirement, and then it shows the
asset level over time, so it'll show the future you know,
inheritance or legacy that you're gonna leave your children or
loved ones. So E Money's great, and I know you've
been doing a lot of work with it and kind
(16:07):
of seeing all the ins and outs. It's nice because
we put manual numbers in to start, but then you
can go through and even link accounts so that they
update on it.
Speaker 4 (16:17):
I mean, it even breaks down the R and DS
for everybody every year. I mean, it really gives you
a belly thorough concise look at what your financial picture
looked like today and in the future.
Speaker 3 (16:31):
Yeah, and a lot of people ask, you know, how
much am I gonna have to take? What's my rm
D gonna be? It's a great tool to forecast that.
You know that first year, you're when you hit seventy
three for a lot of folks out there, but others
it might be seventy five is when you're gonna start
taking R and ds. I think that gets pushed back
in twenty thirty three. So in twenty thirty three, the
(16:54):
rm D age is gonna change to seventy five if
you haven't reached it. But again, you can forecast how
much which the government's going to make you take off
your account because they want to tax you on those
dollars that you've deferred throughout your working career. So so
again you're gonna have requirementium distributions, You're gonna have soci
security hopefully available to you. For some folks, there'll be
(17:15):
a pension and then the retirement assets that you've accumulated
throughout your working years.
Speaker 4 (17:22):
And another beautiful thing is the first meeting, we digest
everything you share with us. The second meeting, you're going
to digest everything we share with you. And by the
third meeting we'll answer any other additional question and then
we find out is it going to be a good
pit Yeah, both of them.
Speaker 3 (17:40):
And our process is very easy. You know, the only
thing we need really our statements. So if you could
gather statements prior to that first appointment, we sit down
and we look at that helps us figure out how
you're invested currently, and that allows us to show you
some different pathways, right, so some different ideas may hey,
maybe we start are investing more into technology on the
(18:01):
equity side, or maybe we start incorporating bonds into the
portfolio for yield for cash flow. You know a lot
of people walk in the one hundred percent and five
hundred index extremely aggressive. They said, I don't know, I
just put it in that my whole life, you know,
which is probably done extremely well for him the last
sixteen years, specifically, I've been in a sixteen year bowl
(18:22):
market now, so again, there comes a point where you
need to change that mindset from the accumulation to income
distribution mindset.
Speaker 4 (18:31):
And especially the three bucket approach, which I think is excellent.
And it's difficult we empathize with people because you've been
saving all your life and the accumulation it's not going
to happen overnight. You're going to get into the income mindset.
But that's what we do that will will help you
(18:52):
get there. And we'll set up with the three bucket approach,
you know, with firm believers that some of the money
is still going to be in market. You don't bite
the hand to feed you. But also we're gonna, like
Nico said, we're gonna set up your nobody likes to
sell in a down market. That's why we had the
three bucket approach. So we're gonna be able to weather
(19:14):
just about anything that'll be down to vote. And but
we're gonna set you up where you're gonna be in
a place where you're gonna be able to get used
to spending your money.
Speaker 3 (19:25):
Yeah, you know a lot of times people call in
and say, hey, distributions are too high.
Speaker 2 (19:30):
I'm really not spending this money.
Speaker 3 (19:32):
So we're not gonna claim that tax liability if we
don't have to, but we do like sending a little
bit more to start right when you retire, just for
that initial point where you're adapting to retirement life, right,
So maybe you don't know what you're gonna spend on
groceries and entertainment and what you're really going to be
spending on your hobbies. So we'll typically send maybe a
(19:55):
little bit more than you actually need, and then we
can always adjust that. It's not like Social Security payment
or repenttion payment's gonna be an exact dollar amount for
the rest of your life, you know, even those that
have cost of living adjustments so they increase generally, but
your retirement income we can always adjust. You know, we
can go back and say, oh, we're starting to build
up too much cash at the bank, all right, so
we'll trim down distributions a little bit, manage the tax
(20:18):
liability a little bit better. But also you might be
someone that has you know, brought accounts or non qualified accounts.
These are assets we can utilize in retirement as well,
just so that everything's not coming off pre tax money,
so you're not tax dollar for dollar on the money.
Speaker 2 (20:35):
We sell the moneys we send out to.
Speaker 3 (20:36):
You if you are someone that it's maybe downsizing. I
talked about this on another show with Chris. I've seen
a lot of people downsizing their homes. They might be
moving from the four bedroom or three bedroom they had
when they had children to now they're retired, no kids
in the house, you know, it's just them. They're going
to a ranch. So they might be cashing out on
(20:58):
some equity from selling the current house which is larger
and maybe more room to getting into.
Speaker 2 (21:03):
A smaller house. You know, what are you gonna do
with that money?
Speaker 3 (21:06):
Right, You're just gonna park it at the bank, or
you could put it into an investment account and then
that account as long as it's managed, you know, tax wise,
it's not gonna trigger large tax liabilities to you if
you don't want it, that's right. You can look at
tax reemunantible bonds. You can look at exchange traded funds
which don't kick out capital gains. You know, you can
(21:28):
look at corporate bonds. You know, that would be a
tax liability, but again more interest focused in coupon and
cash flow. So now you can access that equity to
provide another retirement income source for you.
Speaker 4 (21:40):
Yep, I'll tell you. You know, we're all set up
with a three bucket approach and one people. We're also
seeing a lot of people selling their homes and renting.
You know, it depends on the person or the couple,
whatever is important to them, you know. But the thing is,
we have a billy fixed strategy on how we can
(22:02):
help people transition from working into retirement. I think another
interesting point that you were talking about earlier, and that
is we help people maybe take a little more money
out when they retire because maybe the income level and
retirement isn't the same as it was working. But again,
(22:23):
like Nico said, this is something we're in touch on
a regular basis. We tweak it depending on what you
need at that time and in the future.
Speaker 3 (22:34):
Yeah, and go, go spend, spend. You stop looking at
my quarter. He's looking at my quarter.
Speaker 4 (22:39):
And I'm looking at it. I'm looking at that down
payment on the Snickers.
Speaker 2 (22:44):
I'll give it to you to write your apartment and
I thank you.
Speaker 4 (22:47):
I'll have one more mom that I call you.
Speaker 3 (22:50):
When I call the office five one eight, five eight
zero one nine one nine. In our office numbers five
one eight five eight zero one nine one nine UH,
(23:23):
and we're back everyone. Thanks for taking the time today
to listen to our radio show. My name is Nico Dumas,
certified financial planner with the Retirement Planning Group.
Speaker 2 (23:35):
We're here each week on w s y R.
Speaker 3 (23:37):
Now we do have an office UH in Syracuse and
we're ready to sit down and meet with you and
UH and make sure that we can help you. I
think that's the main point of this and our business
is to help folks and and make sure that they
feel comfortable with their retirement years and that they're not
(23:58):
stressed out about about money either, more focused on family
and friends and enjoying themselves in retirement.
Speaker 4 (24:06):
So I think another thing I couldn't agree with you more,
and I think our process, because it's a three meeting process,
I think people are more at ease knowing that the
first meeting we're just going to get to know each other.
We need to go over what you have, where you're
at today, where do you want to be, what your
(24:28):
goals are. And then the second meeting that when we
really start to implement the information from the first meeting,
we start to begin some recommendations. We put you up
in money you can really get to see where your
financial life is today and where it could be in
the future. And I think that's where the excitement really comes.
Speaker 3 (24:52):
Yeah, so get hold of us. You can go through
our website. It's rpgretired dot com. It's RPG retire dot
com right at the homepage. If you scroll all the
way down to the bottom. Send us a message say, hey,
you know, Joe, I'm fifty five years old. I want
to retire in a couple of years. What can you
(25:14):
guys do for me? You know, we'll get back to
you and try to set up that initial phone call
to sit down with you. No, the only the worst
thing that can come out of this is that you
get everything organized, right. That's what we really try to
push people to do, is get organized. If you have
all these old four to one K and retirement accounts
spread out from old employers, or maybe you just opened
(25:36):
a bunch of different accounts for different reasons, I don't know,
start simplifying, start consolidating so that you can start visualizing
what the retirement game plan is going to look like,
and where that money's gonna come from, and how we're
going to solve that income need when you do retire.
Speaker 4 (25:52):
So yeah, no, it's gonna say.
Speaker 2 (25:54):
In addition, take the floor, take the floor.
Speaker 4 (25:56):
No. I think what I'd love about are off it
is we don't have minimum. I love that. We will
talk to anyone that wants to be helped, and we
will give you every bit of as much effort. You know,
we don't care if you have a dollar or you
(26:18):
have one hundred million. Everybody's important. If you take the
time you want to meet with us, we're going to
give you everything we got.
Speaker 2 (26:26):
Yeah for the most part.
Speaker 4 (26:28):
All right, except for that quarter that you found on them.
Speaker 2 (26:30):
I'm not giving them my quarter.
Speaker 4 (26:31):
No, no, nope, no.
Speaker 2 (26:34):
We'll do it. We'll do our best.
Speaker 3 (26:36):
You know, we do have to act in a fiduciary capacity,
so we put ourselves in your shoes, try to act
in your best interest and make those decisions that that
we think are are best for you. So if you
want someone to help you know and and take a
look at your portfolio, we'd be happy to be those
those individuals for you. We have software programs that we
(26:56):
can review how you're invested currently and see what would
kick back as far as a risk tolerance score, and
relay that back to relate that back to what your
actual risk tolerance score is and make sure it's suitable
for where you're at and what you're looking to accomplish
out of your portfolio.
Speaker 2 (27:13):
So again that's called nitrogen.
Speaker 3 (27:15):
Now. It used to be riskalized, but I believe that
I bought out and it does a great job.
Speaker 2 (27:21):
We use it for models as well.
Speaker 3 (27:23):
When we're developing our models and portfolios for clients, we
utilize riskal eyes to help us figure out how much
exposure to different sectors and also you know, weighted yield
off of portfolio. A lot of our clients are looking
for income versus growth, so they want more income and
(27:45):
cash flow in their account. We're able to do that
through corporate bond offerings and covered call ETFs or even
individual covered calls.
Speaker 2 (27:53):
We do that quite a bit for folks.
Speaker 3 (27:54):
But we're out there browsing the market and trying to
choose the best position that we see fit for our portfolios, and.
Speaker 4 (28:03):
I think a lot of people really enjoy. We want
people to understand what we're doing and why we're doing it.
I think it's very very important, not that people want
to share every single detail about every single investment we use,
but there's a reasoning behind. We just don't come right
(28:24):
out and say, oh, we're going to put you in
a sixty forty because that's what you're taught, That's what
I was taught forty years ago. Yeah, there's a reasoning
behind what we're doing and why we're doing it. And
I take a lot of pride I know you do too,
when people can talk to someone else and say, you know,
(28:45):
I actually understand what we're doing and why we're doing it,
and I think it's important for everybody to be on
the same page. I can't tell you how many times
people come in and they really don't even know what
they have.
Speaker 3 (29:00):
Yeah, they just come in with the account statements, you know.
So a lot of times they'll get a monthly statement
or quarterly statement. They'll bring those in, or they'll bring
in these big variable annuity products that they don't understand,
and we'll go through all the benefits with those products.
You know, a lot of the times we don't end
up doing anything with those variable annuities. They might be
(29:20):
great products and they fit what they were looking to accomplish.
But other times we may take those things and try
to get out right right because they might have pensions
and social Security and all these guaranteed income sources. Maybe
they don't need a variable annuity, And I'm not sure
why the advisor put them in that, right, you know,
other than liquidity purposes lack of liquidity with these annuities
(29:44):
depending on which product you're in. And again we look
at these annuities and just tell them what they have
and make a decision on what makes the most sense
for that.
Speaker 4 (29:55):
No, I totally agree with you, Niko, and a lot
of people. You said that a lot of people are
involved with things they don't either understand or we question
sometimes why do you advisor put a minute in the
first place. So if you have something that's good, we're
going to be the first one to tell you keep it.
(30:18):
If you are things out there that are not clicking
with maybe what your overall strategy is, we're not going
to be afraid to tell you.
Speaker 2 (30:27):
Yeah.
Speaker 3 (30:28):
And it's important to you know, get in front of
the ball quick right. The sooner you start making changes,
the sooner the faster they'll help your retirement out right.
So if you delay, delay, delay, and procrastinate, it's not
going to be your friends, it's not going to help
you visualize that retirement and start mapping out a game plan.
(30:49):
So so call today the numbers UH five one eight
five eight zero one nine one nine. Toll free is
eight eight eight five eight zero one nine one nine.
Or visit us on the web which I want to.
I want to do a quick promo with a website. Www.
Dot rpg retire dot com. Can send us an email.
(31:12):
It's just bread. At the bottom of the front page.
There's a have a question box and you can send,
you know, a quick question to us or try to
set up an appointment through that. And there's there's articles too,
So we have articles on our homepage. This week it
says you know nine facts about retirement. There's eighteen years
worth of days, so retirement lasts for eight If the
(31:35):
average retirement lasts for eighteen years, what will you do
with your days?
Speaker 2 (31:39):
And there's also a look at systematic withdrawals.
Speaker 3 (31:41):
There's a calculator that helps you plan out withdraws off
retirement assets. And then there's another article on inflation and
how it affects your money. So use those resources. We've
got many more tools. Like I said, we have riskal eyes,
we have e money, so we could put you in
these different software programs really make sure you feel comfortable
(32:01):
with everything going on and how your portfolio is invested
and you know where future income is gonna come from.
Speaker 4 (32:08):
We also have very strong alliances that alliance it. But
we know many estate planning attorneys CPA. We are not attorneys,
we are not accountant, but we've been around the block.
I think we know enough to be dangerous and we
certainly know enough that if you're a perfect candidate to
(32:31):
sit downward an attorney, we're gonna touch. Yeah.
Speaker 3 (32:34):
I think we do a lot of estate planning work
and making sure that your your nest egg is protected right.
A lot of people just want protection right for themselves,
for their family and for their kids. So if you
want to call our office again, that number is eight
eight eight five eight zero nine one nine. We're not
there right now, but leave a message and we'll make
(32:56):
sure to get back to you next week.
Speaker 4 (33:12):
In f m.
Speaker 2 (33:18):
H m hm, and we are back.
Speaker 3 (33:24):
No, I have never been to uh to Nashville. We
were talking over the break the Big Man, which a
lot of you are probably wondering about. Dave Kopek. He's
usually on the show on on the weekends. He's out
in Tennessee. He's in Knoxville, so he's out there for
a wedding, so he figured we would try to cover
(33:45):
for him.
Speaker 2 (33:46):
Hopefully we're doing it all right. Job. I think we
I think we are. I haven't. I haven't stuttered too
much today, so.
Speaker 4 (33:52):
We haven't studied at all.
Speaker 2 (33:55):
You and I got a quarter out of it. I'm
really glad I came.
Speaker 4 (33:58):
Here up in large, baby.
Speaker 3 (34:01):
So get me like it'll give me a sixteenth of
a tank of a gallon of gas. But no, I
think we've we've had a really good show so far.
But again, we were talking about the website. I just
want to make sure everyone's aware of that. Rpg retire
dot com. If you want to visit our website, you
can see all our faces. You can, you know, play
with the different calculators and whatnot. And I believe we
(34:22):
have a blog. It also shows past shows on there,
so feel free to check it out or just give
us a call at the office eight eight eight five
eight zero.
Speaker 4 (34:32):
I'll tell you, and yeah, let's get together. You know,
we've got a three meeting process. The first meeting.
Speaker 2 (34:39):
Visit our new office. You can see our new digs.
Speaker 4 (34:42):
I'm looking forward to it.
Speaker 2 (34:44):
Yeah, I really.
Speaker 3 (34:45):
Looks banking new office we've got we've got a conference room,
We've got uh an office, and then we've got a
nice little waiting room fu time.
Speaker 2 (34:55):
No, we don't have a fut time. No, we got
a couple of chairs. I was trying to talk Dave
into that, because then we won't have to spend on hotels.
That's right, if you just sleep in the office.
Speaker 4 (35:06):
And put a lot of quarter down the floor and
we'll do a little quarter hunt right neck to the
Easter egg hunt.
Speaker 2 (35:13):
There we go.
Speaker 4 (35:15):
But no, yeah, I love working out in Syracuse, you know,
and uh I got some very good friends, very good
business acquaintances.
Speaker 3 (35:23):
You know what else is in Syracuse? Tullies the best
places there is. Do you ever go to Tullies?
Speaker 4 (35:31):
Oh? Yes, yes I did?
Speaker 2 (35:33):
With the chicken tenders?
Speaker 4 (35:35):
Oh I did? I did? Is it the Chinese?
Speaker 3 (35:39):
They have a Chinese the Asian? Those are so good,
good stuff. And then there was a little ranch dipping
sauce in there.
Speaker 4 (35:47):
Don't get me going had lunch yet?
Speaker 2 (35:49):
French fries?
Speaker 3 (35:50):
Oh boy, I'm doing a botch Abachi. I told you,
I know you are going to Ubachi tonight. So I'm
gonna go get some uh pork fried rice, little chicken,
little steak. I don't I'm gonna be asleep by seven.
Speaker 2 (36:05):
It was a long day. We've been on the radio
all day.
Speaker 4 (36:08):
I know you're just you are the man. You are
a great mc oh.
Speaker 2 (36:14):
I appreciate it.
Speaker 3 (36:15):
If only I could play some music, I'd start, I'd
start playing my Scottie Staff.
Speaker 4 (36:19):
But what the other place, uh Brooklyn Pickle.
Speaker 2 (36:25):
Sandwiches or the size of my iPad over here?
Speaker 4 (36:28):
I love that. I'm looking forward to going to more places.
Speaker 3 (36:34):
Yeah, yeah, so we'll have to get out there. We're
also gonna meet with people while we're out. While we're
out there, We're not just gonna eat.
Speaker 4 (36:41):
But maybe we'll take him out there we go.
Speaker 3 (36:44):
I heard there's a good Italian I think it's Francesca's.
There's an Italian joint out there that a lot of
people are saying. Uh, so I'm gonna wanta to check
that out, maybe for dinner. I think I've got a
two day in Syracuse coming up in a couple of weeks,
so maybe that Wednesday night will go out to Francesca's
or something.
Speaker 2 (37:02):
But anyways, I digress.
Speaker 3 (37:04):
Sorry, So yes, we we help folks of all different
shapes and sizes with their retirement planning needs. You know,
we meet with children of clients as well. I think
it's always great getting the children in and starting that
family engagement and really you know, putting a face to
a name, because a lot of our clients just say, hey,
if anything ever call happens to me, call Chris McCarthy.
Speaker 2 (37:27):
And actually being able to meet Chris McCarthy.
Speaker 3 (37:30):
I think it's going to help them out a lot
and you know, make them feel a lot more comfortable.
If something does you know, happen to the clients of.
Speaker 4 (37:39):
Ours, I think it's you know, as much as we
encourage it. I think it's very important for the kid
to know what the parents have gone. But I also
see a lot of people are just naturally coming in
with the parents and the kid. It's all one big
appointment and we love it because, like you said, it's
all about building relationship and the more people we know
(38:04):
that are going to be affected, the better job. And
it's one phone call. I think that's another thing you
were talking about, how we help people simplify and consolidate,
especially when something difficult happen and they know they have
one phone call, not ten one, and then we're there.
(38:26):
We're there to service them from day.
Speaker 2 (38:28):
One and one death certificate.
Speaker 3 (38:30):
Also, if you have all of your assets spread out
between different mutual fun companies and different custodians, you're gonna
need to get a death certificate for each one of
those custodians. You know, that's a lot of work, whereas
just having one advisor, having all of your assets at
one firm and being able to hand over the steering
(38:53):
wheel or the you know, the spoon. If you're going
to be the kitchen, the chef, you know, you hand
over the spoon so I could start, you know, making
the sauce right. You know, we'll be able to see
how everything's invested if you just peace mail it. You know,
this advisor is not going to see what that advisor's
buying or with that advisor's selling. You know, so you
might have a lot of overlap between accounts, and we
(39:14):
see that quite a bit. You know, you got this
old four ROH one k that's in a large cap
growth fund, maybe it's a t ro Price large cap growth,
and then you have this other account it's in a
JP Morgan large cap growth. You know, it's probably the
same exact positions in the fund, right, so you probably
have a lot of overlap there, So start diversifying. I
(39:34):
think I've heard for a lot of market out market outlook,
and chief investment officers at Fidelity discussing their future outlook.
And we've been carried by the fang stocks, you know,
those major the big seven you're in, Nvidia, Facebook, Amazon, Apple, Google,
you know, all those big companies have been carrying the market.
(39:57):
We might start seeing more of a broad base rally soon.
Do you have exposure to mid caps and financials? Do
you have exposure to international? Internationals had a thirty percent
return year to date, which is, you know, incredible, They're
outperforming domestic equities, So do you have some international exposure?
(40:17):
You need to be aware of how you're invested, and
you know, maybe it is a good time to start
trimming from the S and P five hundred index that
you're in and getting it into some sort of mid
cap or financial etf And you know, you need to
put some thought in how you have your money invested,
because we're probably talking you know, hundreds of thousands of
(40:38):
dollars maybe millions for some of for some of you
out there.
Speaker 4 (40:42):
I think it's also very important because you were talking
about not only the pusifying within a stock portfolio, but
also because the markets are there all time high, maybe
this is time to start skimming off some of those
stock position and getting into more FIC income and maybe
(41:03):
cash position to start your retirement game plan and get
it up and running. We're firm believers in diversification, but
we also think it's like Niko was saying, there's a
lot of overlap, and sometimes there's a lot of overtill
(41:24):
I think people are When we're looking at people and
we're sitting down, we want to give them the best
large cap growth position that we research, as well as
large cap blend, mid cap, small cap. It doesn't matter.
We're trying to find the best of each sector. And
then instead of we had one gentleman come in a
(41:49):
friend of mine, and he wanted us to look over
his portfolio two hundred and twenty positions.
Speaker 2 (41:57):
It's incredible, it's.
Speaker 4 (41:58):
Insane, you know. So we're firm believers. We'd rather see
not a lot of overlap and that you're touching on
key sectors in the market and getting into the best
fund or ETF for that sector. So again, we have
a lot of fun and we love what we do
(42:20):
and we work hard at talking to many company wholesale
they come in, they educate us on what they're inside,
financial analysts are saying, as well as us staying in
touch with Fidelity.
Speaker 3 (42:36):
Yeah, portfolio construction is huge. Now we can do individual
stocks for people too, So if you want your Nvidia
or your Palenteer, your Oaklow, there's a bunch of individual
stocks out there that.
Speaker 2 (42:49):
We do hold in our portfolio.
Speaker 3 (42:52):
So we do have those capabilities as well for those
younger clients that want to be a little bit more aggressive,
is a little bit more risky. So again you know
you don't know which you don't know, So the first
step is to call us and we could set up
that initial conversation. It's completely free to you. The worst
thing you'll get out of it is a bad cup
(43:13):
of coffee, so or a little mini water. I think
we got those mini waters. But again, you just gotta
give us a call. So that's the first call to
action is on you. So again, our numbers eight eight
eight five eight zero, or you can visit us on
our website at www dot rpg retire dot com.
Speaker 2 (43:37):
So again, we do have that new office out there.
Speaker 3 (43:39):
I'm super excited to get out there and sit down
and meet with people in the conference room and go
to Tully's and Francesca's and Dinosaur Barbecue and all those
amazing food places out there.
Speaker 2 (43:50):
The Brooklyn Pickle.
Speaker 4 (43:51):
I'm I'm pumped. Yeah, And I can't say it enough.
We have no minimum, so we don't care what your
asset size is. You know. We want to talk to
people that want to be talked to and we're gonna
do the best we can and hopefully we're gonna get
(44:14):
more and more clients.
Speaker 2 (44:15):
Hard working savers.
Speaker 3 (44:16):
Yes, we worked with a lot of GRID guys, National
Grid guys I know are in the area out in Syracuse.
Speaker 2 (44:22):
We've got a big barn out there.
Speaker 3 (44:24):
So if you're someone that wants to come in and
review your you know, four to one K assets with
Grid or your cash balance pension plan, they've got the
cash balance available to them. We know a lot of
information about that, and we've done seminars and uh we
just went to their clan bake out there a few
weeks ago, so that was a great event and they
got a beautiful day for that, so it was a
(44:46):
great time. And you know, there's a lot of great people
in Syracuse, a lot of great things to do, So
give us a reason to come out there. Make sure
you book an appointment. You just need to speak to
Jim Corkoran in our office. Uh so again, ask for
Jim Corkoran and he'll get you on the schedule with
one of our advisors. Here our numbers eight eight eight
five eight zero one nine one nine. Again, you could
dial eight eight eight five eight zero one nine one nine.
(45:09):
Just leave a message for Jim Corcoran and uh and
he'll make sure to get back to you next week
and we'll get you on the calendar.
Speaker 2 (45:16):
Yes, got anything else to say? I think we're running
up on the end of the show here.
Speaker 4 (45:20):
No, it's just uh, I've been in the business a
long time, forty years, and I'm proud to say that
this is the best team I've ever been a part of.
I think we have a lot of fun. We worked hard,
we compliment each other, and uh, we'd love to meet you.
Speaker 2 (45:37):
You're going to the gym after this?
Speaker 4 (45:39):
I am not.
Speaker 3 (45:40):
I'm gonna got your gym shirt on. I do the
thumbs up. I do what I can, all right, well,
I'm going to the gym. You go to the gym,
all right, everyone, thanks for listening eight eight eight five
eight zero one nine one nine.
Speaker 2 (45:54):
We'll be back again next week.
Speaker 4 (45:55):
I have a great day.
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