Retirement Planning WSYR 10.25.25

October 25th, 2025.

Episode Transcript

Speaker 1 (00:08):
All right, good afternoon, Syracuse. I'm Dave Kopek, your host.
Glad to be here. It's the weekend. Hard to believe,
ten twenty five, twenty twenty five, unbelievable. Huh, unbelievable. It's

(00:42):
a tie game three to threeccuse Georgia Tech. I'll keep
you updated for those that want to listen to this
fantastic show on pre and post retirement planning. We have
a brand new office in Syracuse. It's at sixty seven
hundred Kirkville Road. Right off the exit, takes you two seconds.

(01:07):
You get off the exit, you take an immediate left
and boom. That's where we are. One A not happy,
I'm ecstatic about our new offices. They came out fantastic.
So anything that I'm talking about today, you have the

(01:28):
ability to come in and have a chat with us,
face to face, complimentary consultation. All you have to do
is just call my office at eighty eight eight five
eight zero nine. We have six locations now in New York.
We have Hyde Park, Syracuse, Albany, Saratoga, and Glen's Falls.

(01:54):
So anything that I'm discussing, you want to take a
ride in the car, you want to see us at
some other location. You want to be incognito, we'd be
more than happy. Trained plane, boat, canoe will come to
you face to face, whether it's by a face to
face meeting or a zoom or ring central. That's becoming

(02:17):
much more common, folks, even for an old dinosaur like me.
But I got good news for you. Two point eight
percent cold increase in twenty twenty six. You're going to
get an annual cost of living a two point eight percent.

(02:38):
The average payment will be fifty six dollars more a month,
better than nothing, right, So God bless And for those
that are collecting Social Security, you're going to get a raise.
The bottom line gets down to is that up is

(03:00):
better than down right. We don't want to get more
expense than increase. But this is talk radio. This is
not listen to Dave Babbel because I don't like the babel.
I like to get questions. And when I get questions,

(03:24):
I think it's good for the listeners, and I think
it's also good for me. It's good for you. Even
if you've got a question that's off topic, that's okay,
But our telephone number at the studio. Over competent engineers
will be there and they'll give me the question, or
they'll put you live on the air. Wow, you'll be

(03:44):
a star. So three one five four ninety seven three
one five four to two one WSYR. If you have
a question, hopefully I can address it give you an answer.
If I can't, I'll let you know, and if I
don't have the answer, I'll get back to you next
week live in the radio. Very specific with the answer,

(04:08):
but not a lot that I haven't seen in the
forty three years that I've been in the business. So
I'm the dinosaur of the office. I'm the guy that
walks around grunts and groans, but to say it in
a chuckle. But I also own the business, so when
I grunt and grow, they don't say nothing to me,
which is kind of fun. It's one of the advantages

(04:29):
of being the owner of the business. You can grunt
and groan and they won't say anything. But today I'm
going to talk about a topic that is top of mind,
and it's something that I'm hearing more and more of.
When I say more and more of, it's kind of
an understatement. We're going to be talking today about healthcare

(05:00):
in the long term care crisis, here in America. And
when I say it's a crisis, folks, I think that's
where we're headed to a crisis. When you start hearing
that the average cost for a family plan is two
thousand dollars a month, you're basically creating another mortgage simply

(05:27):
to have health care. And when I hear the mothership Fidelity,
which we clear all of our business through Fidelity Investments,
they came out with their two thousand and twenty five
retiree healthcare cost estimate one hundred and seventy two, five

(05:53):
hundred dollars in health care and retirement for a sixty
five year old retiring today individually, not for a couple individually,
And a lot of individuals right now can't afford this,
can't afford it. Can't tell you how many people I've

(06:17):
talked to to mine, nieces and nephews, aunts and uncles
that are basically saying they're going broke paying for health care,
or they have elected not to have health care, which
is even more of a concern. So in your situation

(06:39):
right now, depending on where you are and what stage
you're in as far as going into your retirement years,
you've got to consider Number one not even number two anymore.
If you got enough money, and if you accumulated enough assets,
what are you doing for healthcare during your pre and

(07:04):
post retirement years? Now it's going up. We don't have
the numbers yet, but I've heard that healthcare premiums are
going up anywhere from fifteen to twenty percent for the
year two thousand and twenty six. So when you talk

(07:27):
about American's confidence in this world that we live in
as far as healthcare, it's decreasing, it's done increasing, and
a lot of them are basically seventeen percent is the

(07:51):
number that I've got from Fidelity. They're basically saying, see
you later, alligator. I can't afford this anymore. I'm going
somewhere else or I'm not going to have health care.
So a year after year, as we're quite well aware,
I see it, because I'm in the dug out, whatever

(08:15):
you want to call it, the trenches. People are underestimating
how much is going to cost for health care, and
they're underestimating how much money they're going to have to
have on the sidelines for the retirement years in order
to facilitate the control the safety for their financial futures.

(08:40):
I don't want you to think that this is a depressing,
negative content that we're going to have today. But the
reality is we're in deep leads for a lot of us.
We're in deep leads in regards to what we're going
to do for healthcare. And most of you do not
have HSA accounts, and a lot of you that are

(09:04):
listening to this show are either on Medicare or going
to look at Medicare eligibility, So you know Medicare eligibility,
Understanding the potential costs is critical, is critical, So when

(09:24):
you're enrolling in Medicare, I would say this year, especially
this year. You know, we're giving a presentation in the
Aubany market on November twentieth, and we're going to do
one in Syracuse. Hopefully. We're probably not going to be
able to do it this year because our time restraints
and everything, but we will have one next year. Not

(09:47):
this year because we're just getting settled in our brand
new offices, but next year we will have a dog
and pony, rubber chicken dinner, or whatever you want to
call it that will go go through the pros and cons,
the positives and the negatives of retirement healthcare costs and

(10:09):
how you need to understand what the impact of rising
health care costs is going to have not only on
your retirement planning, but also on your checkbook. And this
has nothing, folks, to do with long term care planning,
which I'll get into in greater detail also. But this

(10:34):
is talk radio. Come on, gid you up. Let's go
three one five four seven ninety seven. Three one five
four ninety seven ninety seven. You got a question?

Speaker 2 (10:46):
Fire away, I'm all years.

Speaker 1 (11:06):
All right, we are back with Jack. Three one five
four to seven ninety seven. Open lines, folks, you got
any question you have? This is talk radio. What's going
on with Syracuse? Everybody's sitting on their hands? Three one
five four to two one ninety seven ninety seven. Come on,

(11:28):
let's get the phones a ringing. You're telling me everybody
is like comfortable with what's going on with their retirement.
They're not worried about anything. I guess Syracuse is unique.
You know, we live in a world today where there's

(11:48):
so much personal responsibility for our retirement. I think a
lot of people are in shock. And then when you
add in what's happening with healthcare, AI bypass pills, all
that stuff. You know, we get all sorts of information

(12:11):
from the College of Financial Planning, the new numbers one
hundred people are going to live thirty to forty years
in retirement, possibly longer in retirement than they were during
their accumulation years. Think about that, thirty to forty years,

(12:37):
thirty to forty in retirement. So if that is the case,
you better have a big bucket, right, big old bucket,
because that bucket's going to have to last you for
an extended period of time. That's why when we sit

(12:58):
down with individuals and we talk about retirement well being, right,
retirement well being, it's not necessarily just about ROI return
on investment. It's about the total package, healthcare, long term care.

(13:22):
How do you build retirement income that can last a lifetime.
Now I know that there's all sorts of information you
can basically get overload for individuals that are trying to
basically figure out how do they manage retirement assets for
an extended period of time. I'll say this too, that

(13:47):
I think is critical and I say it all the
time when I meet with individuals, when we're either at
any of our six offices in New York, you better
make sure you know who stand behind the guy that
forgal that you're working with, because chances are you're going

(14:09):
to be working with multiple individuals in that organization for
the decades that they will be managing your assets if
you continue to work with right, so I know myself personally,
we have a team, and the team that I have

(14:34):
three the gentlemen are younger than me, Some are much younger,
some are not too much younger, but they're younger. And
the reason why we do that is because people want
to know that there's what there's a succession plan that
when something happens to me, if I'm the point person,

(14:55):
then the other part of the team can step in
and make sure that everything is taken care of. So
when we talk about building out a retirement plan, we
also want to make sure that we understand exactly what's
going on as far as who will be we meaning

(15:18):
the retirement planning group, will be working with and statistically
we'll work with the female longer than the male because
why guys typically die first they've had enough see the
later alligator. We're out of here, right, So I'm going

(15:41):
to talk a little bit about what we're starting to
see in our business with blended families, which always makes
it a little bit more complicated than traditional families. Why

(16:01):
is that because with blended families, of course, sometimes you
have one children by a previous marriage, so you've got
to make sure that you're dealing with that, to make
sure that we have a plan in place that facilitates

(16:22):
wealth transfer in order to facilitate the individual's child or
children not to be disinherited. And there's a lot of
different ways that we can go through this, you know,
there's a lot of different ways that we can look

(16:43):
at managing assets pre and post retirement planning. But the
bottom line gets down to is that the sooner the
sooner we can do this, the better off it is
because there's strategies that we can implement that are more
effective earlier in retirement then later in retirement. What am

(17:03):
I talking about life insurance? Typically, what happens, and I'm
only speaking by our experience, one of the spouses in
a blended family comes to the marriage the new relationship
with more money than the other. And if that is

(17:24):
the case, right, if they have an early demise and
they love the person that they're with now, a lot
of times the common conversation is is that I might
not be around, but I want to make sure that
Shirley or Steve is taken care of and then when

(17:46):
I pass away, then the money can go to my kids.
Or this is the other part of the equation. I
know that Steve and Shirley do not have enough money
in order to facilitate quality of life, and I want
to pass my money at death to my kids and

(18:06):
my loved ones. I want to buy an insurance policy
to make it adequate enough in order for Shirlier Stave
in order to have quality of life. Which makes all
the sense in the world. Now here's I like examples
because I think examples resonate with people. I had a

(18:32):
husband and wife that were radio listeners. Came to my
office in Saratoga and said, we're newly married. And he
was a New York City detective and she was a

(18:58):
teacher parochial school. Didn't have a lot of money, but
was doing a job part time that she loved, working
with kids in a parochial school on Long Island. I
said to him that you're newly married, you have a
new home, you live here in Saratoga. If something happens

(19:21):
to you, is she protected yeah, she's protected. Okay, well
how she protected. She's got the house, Well, she wants
to stay in the house if she's going to pay
the bills. Well, she's got income. Well, her income was
just a fraction, just a fraction what his was. And

(19:44):
I said, you realize is that there's nowhere near the
amount of money. She'll be all right? I said, I
don't think so. So I went through the numbers and
stuff with him, and I said, listen, what happens to
your pension? Can you make any modificate? No, the house
is the horses out of the warn. I can't make
any modifications or adjustment on my pension, you know. I said, Well,

(20:06):
you realize is that if you die prematurely, there's nothing
there for her because you went pension max, meaning that
you got the maximum pension metafit. No, I understand that.
But she'll be okay, she's got the house. So we
did it dance. We went back and forth, back and forth,
and I thought he was going to stand up and

(20:26):
pop me inside my conference room and I basically said,
I said, you know what, I don't think I can
work with you because you're not hearing what I'm saying.
And I said, what you really should do is to
buy an insurance policy on your life and make sure
that there's adequate amounts of money for your spouse to

(20:47):
make sure that if something does happen. I'm healthy. I
know you're healthy. I'm healthy. I'm in great shape. I've
been a cop for thirty some years. He said. I
you know, I keep myself busy. I'm active. You know
I exercise. And said, okay, Paul, make a long story short.

(21:07):
What happens. Two weeks go by, He comes into the office. Afterwards,
he says, I want to apologize. Said, what do you
want to apologize for? He says, you know, I'd give
him some thought, but you talked to me about and
he says, I want to do that insurance policy because
I want to make sure that Barber's protected. I said, okay,

(21:30):
So he did. The insurance policy wasn't for a lot
of money, but it was more than enough in order
to give her a quality of life, much better position
that she would have been in. So this guy that
was superman that had no inkling at all that he

(21:52):
had any health issues. A year later he was dead
from cancer. She got the check pretty substantial amount of
money for the life insurance policy that he got, and
she thought that I walked on water because I basically

(22:14):
protected her that she didn't have to make any major
changes in her life. She was able to stay in
the house. She had more than enough money in order
to have quality of life. She still worked part time
at that time, she was working for J. C. Penny.
What the bottom I gets down to is that having
hard conversations and putting people in a position that they

(22:36):
understand it's not about return on investment. It's about building
out the plan that facilitates at the stage of life.
We'll talk more about this when come back. I'm Dave Kopek.
This is the Retirement Planning Show three one five four.

Speaker 3 (22:55):
Seven ninety seven. We have a question. Don't be bashful,
we don't HI. All right, we are back. Listen the

(23:23):
chops of the staff here come. I think these phones
are ringing three four ninety seven. Whether it's on investments, asset.

Speaker 1 (23:35):
Protection, legacy planning, transfer of wealth, how to build out
your retirement income distribution plan. We got all the answers
at the Retirement Planning Group. I'm Dave Kopek, the president
of the Retirement Planning Group, and we also have a
brand new office sixty seven hundred Kirkville Road. Beautiful came out, fantastic,
look forward for you to come in and have a

(23:56):
chat with us. We offer a complimentary consultation at that
office or any of the other five that we have
in New York, depending if you're traveling, you want to
go incognito, get out of town, put a trench coat
on and a hat. You want to come in and
see us. We'd love to visit with you. And how
do you get ahold of us eighty eight five eight

(24:16):
zero one nine one nine. If you have a question
today about your retirement plan, it's pretty simple. It's three
one five four to two one ninety seven ninety seven
W s yr. Three one five four to two one
W s YR. We love questions. I always think it
makes it much more interesting if not everybody's doing fantastic.

(24:39):
You know, everybody's got it all buttoned up. You know
there's a lot of misinformation out there. I guess that's
the thing that I consistently see. This is kind of
off topic. It's not part of my summary, my out

(25:00):
for today as far as what I wanted to talk about,
but I'll tell you exactly how I feel. There's a
lot of misinformation out there as far as what's fact
and what's fiction, And I think it depends on the
individual that you're talking to. Okay, at the Retirement Planning Group,

(25:22):
we are an open architecture platform. What does that mean, Dave,
What the hell does that mean? You're open architecture. Well,
what it means, Rodney is this can you hear Rodney there? Well,
what does it mean, Rodney? Dangerfield? Right, Rodney, what it
means is that we don't have an astragrame. We have

(25:43):
nowhere to go, right, we use our ears, and then
once we use our ears, that points us in the
direction that we need to go to. Now, when I
hear people say, you know, we're a fiduciary act in
the client's best interests, that's all bs. Okay, that's all crap. Okay,

(26:06):
because everybody in our business today works in a fiduciary capacity. Okay,
none of us do not work in a fiduciary capacity.
If not, we go to jail real quick or we
get kicked out of the business. So, to make a
long story short, we all act in a fiduciary capacity.
That is a marketing pool. That is something that people

(26:28):
utilize in marketing to say that they're a little bit
better than the guy across the street. Oh my god,
do we have trumpets and horns? We have a question
from Michelle. Michelle, how are you?

Speaker 4 (26:50):
I found let's be getting close to the break.

Speaker 1 (26:53):
No, you know what I'll say. It is as my engineers,
they're not doing their job. I'm gonna I'll tell you
what I'm gonna get on them. I'm gonna say, what
the hell is going on? Hey? Keep going watch the phones,
you guys.

Speaker 4 (27:06):
Oh first, I have something that I have to say
that doesn't have anything to do with Medicare advantage plans.
I got my bribery check for two hundred dollars from
Kathy Hopel yesterday, and it wasn't lost on me that
I got it the day before early voting started. So
I go to the bank and asked for four fifties.

(27:27):
He comes back and says, oh, you're not allowed to
cash these. I said why, and he said, too much
fraud last time. You have to deposit it. And I thought, well,
why didn't you just deposit it into my account? Anyway,
because direct deposit they already got my information. Because I
had to pay state tax last year. Oh so, anyways,

(27:50):
I was just diagnosed with something that's going to cost
me a lot of money.

Speaker 1 (27:55):
I'm sorry. I'm sorry to hear about that me too.

Speaker 4 (27:59):
I was and shocked and irritated. And so I had
a biopsy, and I just I had a Medicare advantage
plan and I got the bill and I almost died.
It was thirteen hundred dollars for the pathology, and I
hope it was for the biopsy too, but I couldn't

(28:20):
get a straight answer out of the billing department and
the Medicare advantage plan I signed up for a couple
of years ago, and I don't take any MEASU or anything.
I was healthy until this, and so I signed up
for a Medicare advantage plan. It was supposed to be
zero premium, but of course I never signed up for

(28:40):
a party plan because I didn't have to take any drugs,
and so the government punished me and I have to
pay a penalty, which is something I think a lot
of people don't know about, and so it cost me
like three hundred a year. I got a thousand per
dental and of course that'sd for in network, which my just
isn't this year they cut it back to five hundred,

(29:05):
but you can buy another five hundred for twenty two
bucks a month. And I used to be able to.
I got a book and it had all these things.
I could get fifty dollars a quarter for free. That's gone.
My premium's gone up and I have I'm thinking of
canceling the plan, but there's no way. I don't think

(29:27):
for us to be able to compare what a Medicare
advantage plan's going to pay for. And I know Medicare
pays eighty percent and then I pay twenty, but I
think that's of like customary charges. We don't know how
to compare these plans, regular Medicare and advantage plans because

(29:49):
we don't know what these things cost. I'm not talking
about the plan. I'm talking about what hospitals and doctors charge.

Speaker 1 (29:58):
You know. The thing is is that I'll tell you something.
You know. We're new to Syracuse, and the reason why
we're in Syracuse is because we do so much work
with National Grid, and we decided to move out there
and have an office, and then ultimately we got on
the radio out there because iHeartRadio asked us to be
on the radio in Syracuse. So we are doing a

(30:21):
presentation in Albany on November twentieth that is going to
go over healthcare and long term care and the different
obstacles that you're going to face in twenty twenty five
in the years to come. What you're talking about, Michelle

(30:42):
is top of mind. People are frightened, they're scared to death.
What's happening with healthcare? Now? You say that you got
a thirteen hundred dollars bill right now, thirteen hundred dollars.
We had a gentleman that called the other day. It's
on a minimal amount. Just got to build for seven
almost seven hundred dollars for a prescription drug and it's

(31:04):
not and it's not covered it under his plant. So
the bottom line gets down to is that not knowing,
not knowing exactly what you have could really be a
major detriment. It could really cause you financial harm. So
you're on top, you're on top of it. What what
are you doing now about it?

Speaker 4 (31:24):
I heard, well, I don't watch the news because it's
not really news. I really have gotten a bad attitude.
I've gotten this old and I've seen stuff that's going
on in the country. I want the insurance that Congress gets.
I can't afford to subsidize Obamacare either, but I'm forced to,
and then I have to pay for my own Medicare,

(31:47):
but I do.

Speaker 1 (31:49):
The advantage plan that you're on right now is.

Speaker 4 (31:51):
Through who Blue Cross Blue.

Speaker 1 (31:54):
Cross, And have you reached out to them and to
talk to them and what was their response?

Speaker 4 (31:59):
Well, I've gotten the booklet, and last year during the
open enrollment, I talked to somebody and they went down
through everything. But the great unknown is what number one?
What might I need? I mean, I don't think I'm
going to get cancer, but you know people are getting

(32:20):
cancer like crazy. Now what am I gonna need? And
what are they going to pay? And then they don't.
The booklet that I got tells me makes a statement.
It doesn't say this is what it'll be in network,
this is what it'll be out of network. And not
only that they tell us in the booklet for this year.

(32:45):
Last year it was.

Speaker 1 (32:49):
Michelle, we have to take a hard break. I apologize, Okay,
I apologize. Give me a call at my office and
we could talk about this off air. God bless give
me a call and give out my telephone number at
the office. But this is the Retirement Planning Show. Will
be right back. M A right, I'll tell the Milchhell, Michelle,

(33:30):
give me a call at my office eighty eight five
eet to zero nine and I'll talk to you. We
have a healthcare specialist that works through the Retirement Planning Group.
That's all she does is healthcare for seniors, Medicare, Medicare supplements,
not specific to win any company or organization, so she

(33:53):
can guide you through some of the questions that you have.
It really is an expertise to itself. But I'm sorry
you're going through that. I'm sorry you're going through that process.
Nothing worse to deal with, you know, trying to work
your way through the landscape and then still deal with
a health issue. But again, that's one of the reasons

(34:15):
why we like telephone calls. If you have a question,
that's three one five four seven ninety seven three one
five four nine seven ninety seven. If you have a question,
Believe me, there's a lot of people out there that
have the same question. I wish I had a easy

(34:38):
answer to this, because I really don't. I really don't,
you know. I had a gentleman that was an employee
benefit specialist about five six years ago that I had
in my radio show and he told me that this
train that was coming down the track with Obomacare and
how it was going to affect premiums. He was one

(35:02):
hundred percent correct, And when he said it was significant,
I had no idea that it was going to be
as significant as it is. But you know, the thing
is is that you've got a lot of people out
there right now that are totally bewildered, that have absolutely
no idea, no idea what's going on, what choices they
should select, not only pre but also post retirement. Now,

(35:28):
I'm a major advocate in your pre retirement years to
select a high deductible plan and fund in HSA the
whole savings account. And why is that Because the HSA
account always goes with you. You use it not only
during your working years, but also the health Saves account

(35:49):
will basically act as a buffer in your retirement years
to supplement to supplement some of these expenses that we're
talking about. Right. So when we talk about retirement well being,
you know, I know that we keep on talking about money, money, money,
and how do I manage my money and return on

(36:10):
my investment? This mutual fund, you know that mutual fund,
private credit, private equity. I'm telling you right now, that's
only one piece of the puzzle. It's only one piece
of the puzzle. The piece of the puzzle that you
really need to be concerned about, the one that's really
having an effect on people, and the one that's having

(36:30):
an effect as far as cost of living and quality
of life is paying for health care, long term care,
assistant living. We had a gentleman in the other day
that wanted to transition from his home to assistant living.

(36:52):
He's trying to find a spot that basically meets the
needs that he's looking for, and he's got sticker shock
when he sees what they're asking for a monthly fee
in order for him to transition into assistant living. So

(37:12):
here's the positive of all this. We are living longer.
We are living longer. With that, we need to adapt
as far as how to manage assets in order to

(37:32):
live past the age of one hundred. Morgan Stanley just
came out well. I used to work with opened the
office in Albany many moons ago for Morgan Stanley, and
then I started my own firm. But half of today's
five year olds. Now, this is a study by Morgan
Stanley are expected to live past the age of one hundred.

(37:59):
What kind of an impact is that going to have
in healthcare, labor, acid allocation, et cetera. It's going to
have a huge impact, folks. All right, let's go to Brian.
We have another caller, God bless Brian. Hey, Brian, how
are you, brother? Good?

Speaker 3 (38:20):
Hey?

Speaker 1 (38:21):
The same radio that you're on that I listened to.
Now they have man during another top show about investing
in gold. Yep, I'm just wondering your thoughts. Man. Well,
it's like anything else. I think it's a mania right now.
There's a lot of reason why gold has basically increase
to the extent I mean it's sold off over the

(38:43):
last couple of weeks. I don't I'm a major believer
in diversification and commodities. I don't think you should put
all your assets in any one bucket. I think a
diversified portfolio commodities makes all the sense in the world.
It depends on what you need. Gold doesn't pay a dividend, brother,
so if you need income, you better be a good

(39:05):
market timer. As far as when you should buy and sell, well,
I get shirt on the radio the other day or
the news that gold does a big drop, you know,
did That's what I just said. It did. It did
take it did take a big drop. But that's why
I said to you is that you need to understand
is that gold has acted more as speculation in a

(39:25):
portfolio and basically as a buffer to volatility. It's basically
an alternative investment. Gold does not pay a dividend. So
if you're looking for income and retirement, if you're looking
for a hedge an alternative investment, gold should probably be
part of it. But diversify it shouldn't be just gold,

(39:46):
that should be silver and other alternative types of investments
precious metals. All right, thank you, okay, brother God bless bye.
No gold, platinum, silver, these are all precious metals that

(40:09):
you can invest as an investment, generally gold in these
assets are a way for you to diversify risk. There's
a lot of different ways you can do it. You
can purchase it, you can buy future contracts, you can
buy derivatives. But it's like anything else. Gold is subject
to speculation of volatility, as is any other commodity, right,

(40:31):
as is any other commodity. So I mean if you
look at gold over the past year, well, it's done
pretty well, right, over the past five to six to
ten days not so well. You know, point of entry
can be critical. You know what the high the high
this year was forty three to ninety five. Right now

(40:55):
it's training at forty one to twenty six, so it's
down a couple hundred bucks. There's a lot of economists
right now basically say be wary, be concerned about gold.
You know, has it run too far? Bottom line is
is that diversification is your friend. Do I believe that
commodities should be part of our overall investment portfolio. The

(41:17):
answer to that is an emphatic yes. But it should
be a diversified portfolio that not only includes gold, platinum,
silver and other precious metals and alternative investments. Okay, hopefully
then answered your question. You know, when you start hearing

(41:38):
your cabby tell you to buy gold, or if you're
sitting in the car and you're going to the airport
and the guy tells you how much money he's making
in the stock market, it's usually a good sign to
basically peel a little bit off. I'm always wary. I

(41:58):
had a conversation about out this a couple of weeks
ago on the radio. But private equity and private credit,
that's the new wrinkle Wall Street. Private equity and private credit,
and now they want to add them into four