Retirement Planning Show

August 19th, 2023

Episode Transcript

(00:00):
Yes, Welcome to the Retirement PlanningShow with host Dave Kopak. In the
financial services business for over thirty fiveyears. Their Retirement Planning Group LLLC is
a registered investment advisor. David M. Kopak is also a registered representative of
persh kaplan Sterling Investments Incorporated PKS intheir separate capacities. A registered representative of

(00:22):
PKS, David M. Copack mayrecommend the implementation of securities through PKS instead
of Retirement Planning Group LLC. Perstcaplan Sterling Investments and Retirement Planning Group LC
are not affiliated companies. Now it'stime for the Retirement Planning Show on WGY.

(01:00):
You blow when you'll make it myway? My boys pulling oates.

(01:32):
A double d's in there in thecontrol room today, daredevils. The two
Zacks are back. Well, it'sbeen a while since I've been here,
so I want to seek the morning. Took a little time off last week
I was Eddie Golf outing for cancerthe American Cancer Society. We do whatever

(01:55):
you're in honor of my brother inlaw who died weight too early at the
age of forty six, Steve Janis, And every year we had about two
hundred people at the Fairways of HalfMoon. Had a great day, great
weather, thank god with the weatherthat we've had this summer, and raised

(02:17):
a lot of money for the AmericanCancer Society. I know they're still putting
all the numbers together. People arestill setting in donations. But for those
that participated, thank you. Wehad a lot of our clients, family
members you knows, were all quitewell aware. Over the last couple of
years, Colton, my cousins littleboy, three year old, ended up

(02:40):
having major cancer, lost a lung, a rib, all sorts of chemo
radiation, and thank god, he'shealthy and he's bouncing around. He was
up to the lake not too longago, sitting in the water having a
good time. So God is good, He's blessed us. Thank you for
the prayers, and a lot ofpeople were praying for Colt. But we're

(03:02):
going through more of it right now. We have other family members, John,
my cousin John, and of courseour maid of honor Kelly in our
wedding that are going through a veryvery very very difficult time right now.
So it's a scourge. It's somethingthat I would love to see. There
has to be a cure out therein some capacity. But prayers do help

(03:25):
and we appreciate them, believe me. And if you can say some prayers
for John and Kelly, it wouldbe greatly appreciate it because they are going
through a very very difficult time.So John at the golf outing and his
response was, Julie says, whatcan we do John? And he says,
please just say some prayers so hecan be rest assured that there'll be

(03:49):
lots of prayers for both him andKelly. So we have another cancer outing
coming on the twenty eighth. That'sour outing for the American Cancer Society.
It's very successful. Think last yearwe generated almost twenty thousand dollars for the
American Cancer Society. We hold thatalso at Fairways of Half Moon, lots

(04:14):
of prizes, lots of gifts,you know, great food, great golf.
If you'd like to partake Swing fora Cure. That's September twenty eight,
you can call the office. JimCorcoran is really the point person on
that. Jim does a great jobcoordinating all of this. And we're going

(04:34):
to have a great day. That'swhat's gonna happen. We're gonna have a
great day. We're gonna generate alot of money, We're gonna pray a
lot, and hopefully it'll be acure for cancer in a very short period
of time. What I think Drouelladid he behave? Yeah, he behaved

(04:55):
himself. That's good. If Drewcame in and took the rains last week
when I was at the gullfut youwant to thank him. I know he
had some special guests on. It'sone of the hardest working guys that I
know. Droel was a great,great, great guy. If you recognize
his name. His father was doctorYello and Clifton Park and his dad died

(05:15):
of cancer, also doctor Illo.So I know they'll be partaking on the
twenty eighth of September for Swing fora Cure. So in big News.
I know I mentioned this once before, but I want to mention again.
Nicholas Nico is now a certified financialplanner through the College of Financial Planning.

(05:36):
That is not easy to get.He worked very diligently and hard on that,
and we applaud him that he's gotit completed. We sun on an
email blast of clients and prospects andstrategic partners to let them know that he
was successful. It's a daunting task. It's very very stressful at times.

(06:02):
You got to work your job andyou gotta do some you know, studying
after work, and these exams arenot easy. So Nico, we applaud
him. He is his designation nowas a certified financial planner and now he's
ready to fly. Very very verysmart young man. Magnum Kumlodie graduate from

(06:25):
Sienna College and finance and economics.Very smart. And then of course I
got my son, Christopher William whohas a degree in financial planning from Sienna
and sports management. We're just veryhappy with the team and we get into
that a little bit today as faras some changes that we're making which I

(06:47):
think are going to be extremely beneficialfor our clients. Nothing major. We're
just tweaking a little bit some ofthe things that we're doing internally, some
affiliations that we're going to start workingwith, some new investment banking firms.
We're still staying with Fidelity. We'renot leaving Fidelity, but we are going
to add more services for our clients. I think it's critical. We're starting

(07:14):
to see a lot of people now, not only on the estate planning,
but a lot of legacy planning,tax planning, So we need the horses
in the stable to facilitate that.So hopefully within the next couple of weeks,
I can make a major announcement.That's why I went to Dallas,
Texas, and we really look forwardto making that announcement probably the early part

(07:36):
of September when we dit arize crossor Tis. You know, the attorney's
got to look at all the legaldocuments to make sure that we've got everything
set up properly. But as we'reall quite well aware, it's almost nine
out of ten now nine out often peoples they have to take the assets
they've accumulated over their lifetime. Nowthey're going to have to create a check

(08:00):
for the rest of their lifetime.And depending on whether you're fifty five,
sixty five, or seventy five,it can be a stressful time trying to
figure out how do I take thesebuckets of money, all these different accounts,
and how do I consolidate them simplifythem not only for my loved ones,
the people that I love and Icare about, but also for the

(08:24):
people that I want to make surethat there's adequate wealth replacement for a surviving
spouse, legacy for my children andgrandchildren, and then of course if it's
important to you, any charitable intentthat you may have. So I'm gonna
take up my first break because we'realmost at the fifteen minute mark. When

(08:46):
we come back, I've got somelittle talk a little bit about the markets.
You know, I don't believe talkingabout the markets on a day to
day, week to week basis.If you're in the stock market, you're
in a long term investment. Interestrates have ticked up a little bit.
There's some very very I've been sayingthis for the last month or two and
hopefully you've been listening to this.There are very attractive yields out there right

(09:09):
now for individuals that want to lockin rates that are guaranteed, guaranteed.
They're not going to fluctuate guaranteed principleand interest. And we'll talk a little
bit about that when we come backfrom break. But again, this is
the Retirement Planning Show. I'm DaveKopec. I'm the president of the Retirement
Planning Group. We have four locations, Oneanna Aubany. We have a corporate

(09:33):
headquarters in Malta and then of course, we have our Glenn's Falls location.
I'll be down Oneana. I believethis week. It's either this week or
next week. I'm in Oneana.I think it's this coming week. I'm
down to Oneana. And then I'mgoing to bounce down to Pennsylvania and see
some of our clients that live inthe Pennsylvania area. I actually look forward

(09:54):
to that because I haven't seen themsince the COVID incident that we had talked
to him over the telephone. Butwe're going to go down northern Pennsylvania.
Believe it or not. We havea fairly good concentration of clients down there.
A gentleman that listens to us hasreferred us to quite a few people.
So if you're listening this morning,I'll see you soon. This is

(10:16):
Dave Kopek Retirement Planning Show. We'llbe right back after this quick message the
eighty six percenters. Do you knowthat eighty six percent of the population has
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What is your plan for retirement incomedistribution? How will you manage your

(10:37):
assets during the most critical years ofyour lifetime. Nobel Prize winning economist William
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(11:01):
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zero one nine one nine. Ifyou have any questions, please call in
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eight hundred talk w G Y,one eight hundred talk w G Y.
We are live in studio to answeryour questions. Night seeing him watching a

(12:11):
wedding. You all right, goodmorning, good morning, good morning.
It is the weekend. If yougo outside. I was out the side
this morning at four thirty and Isaid, wow, it's a little bit
chilly, A little bit chilly.Let the dog out, went out,

(12:35):
grab some things out of the carbecause I wanted to do some highlights for
today's show. And uh, Iput my feet on the ground, didn't
have my shoes on. I said, boy, it's a little bit nippy
out here. So falls in theair today. I guess summer's coming back
tomorrow. It's going to be inthe eighties. Some of the Canadian air
is coming down, So grab asweatshirt if you're going to go out.

(12:56):
But I think we might be lucky. We might be lucky. As far
as I know that, this hasbeen my yard. As you're all quite
well aware, I'm doing a barn. My barn is almost done if they
can get into the property. Ilive in half Moon Clifton Park, my
main house. I also have ahouse up in Lake George, but my
main house down in half Moon CliftonPark. I've disassembled my grandfather's barn and

(13:20):
I'm putting it up on my propertyas like a party barn, festivity barn,
and also some storage. But thething is is that we are in
clay. Clay's not fun because thewater doesn't go away, and these heavy
machines that they need to bring inorder to do the slate on the roof
and all the other fun stuff.So my yard looks like you know,

(13:46):
there's been a dirt track for motorbikesor you know four wheel machines that you
know, you see them tear upthe dirt and all that. But it's
ugly and what we're getting there.But looks like this week we're going to
have some sun and dryness, sohopefully they can button it up and get
all the signing on. That's reallythe only thing they got left is the

(14:07):
doors and the siding and the barnis done. I'm very happy about that.
I'm very happy about that. Iwant to mention something because as an
old goat, even though I feelpretty young, I've been around the earth
for sixty seven years and I wastaken back. After we do the golf

(14:31):
outing my brother in law on aSaturday, we do the golf outing and
then on Sunday, the family,which comes from all over the New England
area, we go to the trackfor a day at the track and we
get picnic tables, and you know, everybody brings something, and it's just

(14:52):
a beautiful day, and you getto hobnob a little bit, because,
as we're all quite well aware,when you're at a golf outing, you
got your foursome, but you gotthe rest your family all over. And
I'm sitting there at the race trackand I've got family members and kids,
and sitting next to us across onthe other side is this spectacular, beautiful

(15:16):
family, a mother and a fatherand these four beautiful young children. Probably
the oldest one is about seven oreight years old. It's just spectacular,
how beautiful the family. And Iactually said to him, it's just such
a beautiful family. And right nextto this beautiful family are these morons smoking
marijuana, drinking. And I'm saying, to myself, is this am I

(15:43):
really in it? It stinks thestuff is blown over towards us. I
mean, it's to me, it'snauseating. I can't stand it. You
know, when I was in college, you know, in the seventies,
I mean marijuana, the dorms usedto smell like marijuana and used to drive
me insane. Being middle of thewinter in South Dakota, and I have
my window wide open because it juststinks. And I'm saying to myself,

(16:07):
what is going on here? Somy wife kept on saying me, you
know, I don't worry about it. Don't worry about it, you know,
just leave nice now. I'm notgonna leave it alone. So for
giggles, I saw a couple ofguys with you know, NIRA badges and
all that stuff, and I wentup to him and I said, you
know, what is the what isthe procedures here? As far as I

(16:29):
mean, I don't even know whatit is for cigarettes. I know a
lot of places you can't smoke acigarette. And I asked the guy on
the security, one that said securityon a shirt. I said, what
is the deal when you pull upwith a family, this wife and this
husband, got these four beautiful youngkids, and you got two tables and
they're smoking dope like it's nothing,like it's a walk in the park.

(16:53):
And the stuff is filtering all overthe place. It stinks. And I'm
saying to myself, is this reallythe new world that we live in?
This is this what we have toget used to? And the guy,
the guy from security, I said, what's your policy here? I mean,
if they're gonna smoke pot and drinktwenty cans of beer, which the

(17:17):
one couple they were just getting whackedout. I'm saying to myself, shouldn't
they there be a section. Oh, we were told, sir, just
to do nothing, do nothing,do nothing, that was the answer I
got. Well, I'll tell youwhat might do nothing is is that I
have no desire to go back tothat specific area. I don't know if

(17:41):
the clubhouse or inside the the youknow, the stadium there that they have
for the But I'll never repeat thatagain myself personally, because I find it
nauseating and I find it so disrespectfulfor other people that are sitting next to
you. But that's I guess,the new world that we live in,

(18:04):
that we live in a society todaythat anything goes, anything goes. And
I felt so bad, so badfor this beautiful I mean, the woman
was dressed to the nines, thekids had matching outfits on. The husband
was just such a nice guy.And I'm saying, look what they have

(18:26):
to deal with here. But Idon't know. I guess you know,
you just suck it up, Youclose your eyes, and you keep on
marching. But as far as myvote. I won't be back. I
won't be back. I find itnauseating and I find it something that is
so disrespectful for the people that aresitting next to If they're gonna allow people

(18:49):
smoke dope, get a section,just like they do with cigarettes, Get
the dope section. That's my twocents. That's all I'm gonna say about
Nira. Plus, I lost alot of money, yeah, which was
not fun. I said that,Julia, Let's just go home. I've

(19:10):
had enough of this for one day, all right. The markets, you
know, we're getting to that timeof the year, folks, summer months,
the duldrums. This is not unusual. We had a little bit of
a sell off this week. Youknow, March through July we had the
bull running. But you're gonna geta little bit of a sell off here.
You know, you've got people thatare what we call rotating out of

(19:33):
certain particular stocks. But you know, you gotta have buyers. This is
typically Wall Street, your hedge funds, investment bankers. They're you know,
in Martha's vineyard, Nantucket, they'reout in the Hamptons. You know,
they're basically loading up for the nextweek or two before we get back into
the saddle for the remaining quarter oftwo thousand and twenty three. The fear

(19:59):
of core this has been the ratesthat we've seen, the jump in interest
rates. Ten year interest rates havehigher then anticipated. I personally don't believe
that the FED is going to increaseagain. I think that they're done.
I think they're going to stand firmfor a while. Don't hold me to
that, but that's what my guttells me. We are in the camp

(20:22):
that we're going to start locking insome guaranteed rates. We've held off on
what we call our yield enhancers onour portfolios, and we'll probably start kicking
them in. I know that Nicoand I have a meeting on Monday morning
with Fidelity to go over some portfoliosand some tweaks that we want to put
into the portfolios. But bottom lineis is that you know, you know

(20:45):
this. I think this happened ineither seventeen or eighteen. We're certain stocks
made up a huge you know nowthey call it instead of they call it
the Magnificent seven. Tesla, Apple, Amazon, Microsoft, Meta, Google

(21:08):
the video and if you look atthese companies, they've had a significant influence
and then that return on the indicesthat they participate in. And this happened
not that long ago. I mean, a lot of your stocks, if
you go through them individually, aredragging much more so as far as the

(21:29):
net return for the year than whatwe call the Magnificent seven. You know,
we have a position. Of course, we use the Triple Ques,
which is up dramatically for the year. But you know, a lot of
your bell weather, your blue chipstocks. You look at the Dow Jones
Industrial average for the year and Ithink it's up about I think four percent.

(21:55):
Let me just see tell exactly whatit is year to date, but
yeah, four point one percent.The Dial Jones Industrial which closed you're to
date on Friday s and P fivehundred is up thirteen point eight percent.
Nasdec is up twenty seven percent,and Triple Ques are up almost thirty five
percent thirty five percent plus for theyear. So the thing is is that

(22:18):
diversification is your friend. Uh.The dilemma. The dilemma with a lot
of these what I call nosebleed peratios right now. You know a lot
of these stocks if you're chasing afterthem right now. I know that some
people chasing after Apple. They're chasingafter Navidia. You know, when these
things correct, I think you're goingto see, you know, a pretty

(22:41):
good downdraft. I mean, Iwas watching Bloomberg the other day they were
discussing it. So you know,I'm not a big believer in individual stocks
for retirees. It never have beenand it never will be. Yeah,
if you've got a sand box accountwhere you've got a certain amount of your
network allocated, knock yourself out,you know, try to find the alpha,

(23:03):
try to find the stock that youthink you can really get a pretty
good net return. But overall,you want to be allocated into, you
know, stocks that are going topay strong dividends, give you that yield
that you're looking for, give youthat yield that you're looking for. As
far as income off the portfolio,blend it with some very attractive high rates
of interest right now, the guaranteedrates, with what we call yield enhancers,

(23:26):
some alternative products, and I thinkyou should really be in a good
spot. We haven't been here ina long long time with these types of
coupons, these types of rates.So again we're pretty optimistic for the second
half, final quarter of two andtwenty three, But if you want to
sit down with us and have achat, we would love to have that

(23:48):
opportunity. We are busy, We'reextremely busy, but our messaging is being
well receptive and we look forward tositting down with you. If you would
like that, you can give usa qualify five one eight, five eights
or a one nine one nine.Lisa and I are taking a ride to
Gloversville on Monday, and we lookforward to going out there and visiting some

(24:11):
new people. Will be right back. Gee, why what are you all

(24:33):
the time say I don't feel theneed to give some secrets away? You
think maybe I need him? Onewi right, all right, just get

(24:56):
up another listen to d all right, good morning, good morning, Good
morning, Saturday, the twentieth ofAugust. Oh my god, hard to

(25:21):
believe, hard to believe. Besnowing pretty soon, Zach. But your
galoshes on. You don't remember these, But I can remember as a kid
growing up, And I know alot of our listeners are going to get
a chuckle. We used to wearboots that there was like latches on them.

(25:42):
You would put it through a certainsleeve and latchet. They were like
rubber boots, and of course Ihad to go to school with those rubber
boots on, and I was likethe most embarrassed kid on earth. Look
like, you know something. Theycame out of the you know, tundra,

(26:04):
you know, between my hat,my coat, my scarf, and
of course my boots and have thoseboots on. I have to have my
sneakers inside my bag. But ohmy god, God bless my mother,
God bless my mother. I knowthat there's people out there chuckling because I
know that there's a lot of peopleout there that remember the boots that latched.

(26:30):
You know, you click click,click, click click click them all
the way up. A lot oftimes people wouldn't click click click. They
would just leave them open and slip, you know, slip him on.
But the good old days, thesixties and seventies, I don't even know
if those boots still exist. Ifthey do, don't get them, tell

(26:51):
get them. It'll be the talkof the town. All right, We're
gonna talk a little bit about theguaranteed ray that are out there right now,
some of the attractive ones. Iknow that we've talked about the treasuries
that are out there, but rightnow, on Friday, the three month
closed at five forty three, thesix month closed at five forty seven,

(27:18):
and then the twelve month closed atfive thirty four. That's for treasuries.
And then the two year, whichis taken up towards five, was trading
over five this week, but it'sthat closed at four ninety four. So
if you blend those rates, youblend those rates for two years and stagger
the maturities. If you're in thecamp that you think interest rates might even

(27:40):
spike a little bit more. Imean, you're gett a blended rate well
over five percent right now, guaranteedwith the US Treasury. You know that
we've done quite a bit and treasuriesthis year, probably more than we've done
in the last five years, butsafety guarantees. The problem is is that
treasuries you buy them at a discounttheir future value. You buy them at

(28:02):
a discount. They're basically called azero coupon, so you buy them at
a discount to their future value.You don't get the coupon until the bonds
mature. So if you need monthlydistributions, you need to figure out if
you got enough cash on the sidelinesto facilitate what you're taking out on a
monthly basis. The other thing isis that myga's multi year guaranteed annuities are

(28:29):
going up also, they're going upalso ballpark. You can get about five
percent if you go out for fiveyears that money. You can either take
it as income or the money willgrow on a tax deferred basis, just
like a CD. You hold themto maturity, you don't have any tax
consequence until you actually withdraw the money. No tax consequence. They can be

(28:55):
extremely advantageous for people that are lookingto adjust their tax liabilities. They're looking
for ways to simplify get more guaranteesygas. We're in New York State.
Outside of New York State, someof the rates are actually higher, which

(29:15):
is not uncommon. But if you'relooking for a type of investment vehicle that
would give you a very competitive rateof return. The money will grow tax
deferred. When you take the moneyout off, you're gonna pay income tax
on it. But there's a lotof caveats. There's a lot of different

(29:37):
ways that you can take money offof the YGA contracts. We are big
believers in annuitization, carve off,let the money keep on growing back it's
like a yo yo. What youdeplete over the period of time with the
payout, it goes back to whereyou originally were with a carve out with
a certain percentage of your portfolio.But with that you get a good percentage

(30:02):
of the income is exempt from taxationbecause of what they call the exclusion ratio.
So if you're in the camp thatyou're looking to get guarantees and you're
looking to get tax preferenced money,which a lot of people are, it
doesn't have to be all your portfolio, you know, it could be a

(30:22):
portion of your portfolio. But afive handle right now, folks, I'll
take a five handle. I'll takethat anytime. If I can give me
a five percent guaranteed after what we'vebeen through over the last few years,
I'll mean more than happy. I'mdancing in the street for five percent with
principal protection. So treasuries, Ijust talked about the NYGA contracts, And

(30:45):
if you are building out your ownindividual bond portfolio, let's say you're doing
an inside your IRA laddered bond portfolios. Investment great corporate bonds are giving you
at least a six percent handle rightnow, depending on the duration how long
you want to go out on theyield curve. So you know, you

(31:07):
take that in conjunction with treasuries,and conjunction with some yield enhancers, some
mutual funds or ets, you're goingto have yourself a pretty attractive monthly dividend,
annual dividend off your portfolio, whichyou know, we use one in
particular that I've used three years.Three years. You know, I've had

(31:30):
people call me on the telephone said, hey, Dave, what's that one
that you're talking about on the radio. Well, the only way you get
to know what it is, yougot to committ to the office and have
a face to face meeting because wedon't give out our secret sauce. You
got to commit and have a faceto face meeting with us. But that
one right now is paying almost elevenpercent ten point seven nine right now.

(31:51):
And I've been utilizing that core portfoliofor an extended period of time, and
yep, it's gonna fluctuate yup.But over time that fluctuation were more than
willing to accept because of the coupon, the interest rates. It's a pretty
dynamic alternative investment. It's managed byNivine, which is known for their expertise

(32:13):
in that arena, and so buyersshould rejoice that are out there in the
marketplace right now that are looking forincome, looking for income, because it's
a great time for you to bein the market, especially people that have
been adverse to risk. Adverse torisk. You know, there's nothing wrong,

(32:35):
folks. I had a woman thatcame in the other day and we
were having a chat. She livesin Saratoga, and she goes, you
know, Dave, I just don'tlike this roller coaster. And you know,
she's a a good friend of mine. He knows her from McGregor Country
Club. And she goes, youknow, I just I'm at the age

(32:58):
of my life where I want moreguarantees than I have right now. Because
you know, she was down almostthirty percent last year in her portfolio and
it was making her sick. Shejust couldn't deal with it. So I
said to her, I said,there's nothing wrong with you wanting safety and
guarantees. Don't feel like, youknow you're a fish out of water,
because right now you're talking to meand we can provide that to you.

(33:22):
Depending on how much risk the Rword that you want in your portfolio.
So after you know, a fairlylong discussion, you know, she has
decided to move her assets over fromthe current advisor that she's working with.
And you know, the thing isis that I actually know the guy that
she's working with, and I don'tfeel good about it. But the thing

(33:44):
is is that she said that she'stried numerous times to have chats with him
about I don't want to be inthese types of investments, and it sounds
like it's going in one year andwent out and going out the other.
This is what I say to thestaff all the time. So what I
say to Niko and my son,you know, you've got to use your

(34:05):
ears and not your mouth. Youcan't have your agenda. You have to
have the agenda for your clients.You need to facilitate what they're looking for,
not what we think they should belooking for. So if somebody comes
into us and say, listen,I don't like the gyrations of the market,
I don't. You know. Lastyear was kind of unique, right

(34:28):
because not only were we getting kickedin the teeth on the equity side,
but we were also getting kicked inthe teeth on the bond side. Now,
if you're a long term investor,everything evens out. The pendulum always
swings too far to the right,it swings too far to the left,
but eventually it comes back to center. So if you're a long term investor,

(34:49):
it's just a period of time beforeyour net return is going to get
back to where you're probably were originally. But the thing is is that we
live in a world today that blackswan events can happen at any time,
at any moment, And we allknow what black swan events. They're the
events that can really have a devastatingimpact on your investment portfolio. So if

(35:14):
I've made my money and I haveaccumulated enough money and I don't really expect
to need to grow that pool ofmoney, do I need to be in
a risk asset that there's going tohave volatility. There's nothing work wrong with
the word guaranteed. Matter of fact, I like that word guaranteed. So

(35:38):
the thing is is that if you'rein this situation right now where you feel
like, you know what, Imight not be allocated into the right type
of investments. You know, Iknow that right now I can go out
and get five percent guaranteed. Soif I got a million dollars portfolio.
I'm gonna get fifty over fifty thousanddollars a year guaranteed, guaranteed. What's

(36:00):
been your net return on your bondportfolio over the last five years. What's
been your net return on your investmentportfolio over the last five years. Look
at those numbers and say, youknow what, maybe it makes sense for
me to harvest some of this cashthat I'm sitting on. I mean,
we're sitting on trillions dollars of cashright now because what happened is that a

(36:22):
lot of people want to CDs,money markets, gigs, treasuries because of
the fear factor. So when thosemoneys are coming due, or maybe you
got some premium, maybe you actuallygot some gains in those portfolios because of
how they're trading right now. Maybeyou extend it out. Maybe you build

(36:44):
yourself a ladder bond portfolio with thesetypes of guaranteed rates, and you put
yourself at a position that you cansleep at night. You're not looking at
statements when they come into the fromthe mailbox and you're throwing them on the
countertop because you don't want to openit up and look at it. We've
all been there. Nobody likes volatility. You know, we're in a situation

(37:07):
right now where a lot of peoplehave not participated with these gains in the
market because they got scared. Theywent to the sidelines, they went to
cash, they went to guaranteed rates. But if you do not have a
long term time horizon, if you'renot willing to take the adjustments and the
market volatility that the markets give you, maybe now is the time. So

(37:32):
talk to your advisor, have achat. We offer a complimentary consultation for
a second opinion if we can beof assistance. You know, we keep
it pretty crystal clear as far aswhat the opportunities are and what we can
provide. You can give us aqual at five one eight five eight zero
one nine one nine five eight fiveeight zero one nine one nine or RPG

(37:58):
retire on the web. We're goingto take a break. When we come
back, we're going to talk aboutthis a little bit more. We're gonna
talk about what's happening with retirees.It just retired over the last few years.
It's pretty surprising. We'll be rightback the eighty six percenters. Do
you know that eighty six percent ofthe population has no defined benefit pension plan.
For most of us, we haveto take our life savings and create

(38:19):
a paycheck for the rest of ourlives in retirement. What is your plan
for retirement income distribution? How willyou manage your assets during the most critical
years of your lifetime. Nobel Prizewinning economist William Sharp has called retirement income
distribution the nastiest, hardest problem infinance. He points out that investment,
uncertainty, and mortality can derail themost careful laid out retirement income plan.

(38:43):
Call our offices today to start theprocess of building your retirement income distribution plan.
After forty one years of being inthe financial services business, you need
to start taking action to start buildingyour own personal retirement income distribution plan.
How do you do that? Totake action eight zero one nine one nine
that's five one eight five eight zeroone nine one nine or RPG retire on

(39:06):
the web. Don't procrastinate, motivateto start building your retirement income distribution plan
five one eight five eight zero onenine one nine. If you have any
questions, please call in now atone eight hundred eight two five fifty nine
forty nine. That's one eight hundredtalk w g Y one eight hundred talk
w g Y. We are livein studio to answer your questions, SA,

(40:04):
to tell them job dissatisfied. Lasttime I really got a late excuse.
I know that's true. No,right, go see them in concert.

(40:27):
There's phenomenal. Julie and I sawthem last year at the Casino Connecticut.
It was phenomenal, absolutely phenomenal.Uh. My brother in law thinks
it's bubble gum music. He doesn'tlike him. He's a time petty guy.

(40:55):
I like time petty though, too. All right, you're talking about
the market conditions, the reality check. You know, I've been through this
before. I was just thinking aboutthis when I was looking through my notes.
This goes back to around I thinkeither sixteen or seventeen, where a

(41:16):
small group of stocks made up ninetypercent of the return of the INDUSCY SMP
five hundred. And that's happening rightnow. Same thing in two twenty three,
where seven of the stocks are basicallymaking up ninety percent of the gains.
Seven tech stocks command almost ninety percentof the SMP five hundred gains seven

(41:39):
seven, signaling the market rally maynot be so healthy because there's lack of
part participation, right, it's notbroad based. So that brings me back
to a story. The story isthis that a guy came in his wife

(42:00):
inherited some money, and the moneythat she inherited, she wanted safety.
Okay, that sounds good, thatsounds good. That sounds good. Yep.
That was that sounds good. Yep, that's what we want. That's
what we want. And then ofcourse we had the same thing that happened
back then, where you know,small percentage of stocks made up a substantial

(42:22):
return of the industry. And hethought, I was so stupid because his
wife wanted safety, but he wantedme to have most of the money allocated
into those stocks that were volatil,that were you know, high risk,
low you know, low pe.And that's the difference between the plan having

(42:46):
content and understanding and one where peopleare heading in different directions, heading in
different directions. And the thing isis that that's what we have right now.
We have unless you were chasing individualstocks, if you were in triple

(43:07):
queues with a good percentage of yourmoney NASDAC, a good high percentage of
your portfolio in the s and Pfive hundred, you know, I'm gonna
say that probably most people this yearare up somewhere between eight to ten percent
met in their portfolio. If youhave a blended portfolio between stocks, bonds,
cash, and alternative investments, that'sprobably the number that you should be

(43:28):
looking at. The problem is isthat as you get into your retirement those
high pe ratio. You know,some of these I mean, some of
these stocks are at nose lead level, right. I mean Apple added I

(43:52):
think almost six hundred billion dollars tothe market cap of the seven that we're
talking about, Just an astronomical figure. Right, But what's going on with
Apple over the last couple of weeksselling off? It's selling off, right,

(44:13):
you look at some of the otherstocks. Now, if you've got
a long term time horizon, that'sprobably pretty good. Or if you're a
tactical, if you're going in andyou're harvesting your gains, you're fortunate enough
to get into the early part ofthe year, you're harvesting some gains,
you're putting some cash on the sidelines, and you're going to facilitate what you're
gonna need as far as income.But a gentleman that I respect at Fidelity

(44:38):
basically says that the market is reflectingan unhealthy rally with very little broad participation,
right, And his position is isthat there's a lack and I'm a
big believer in this. I'm gonnatell I'm gonna be're at up front of

(45:00):
technical basis for a substantial rally fromnow until the end of the year.
That's his position, not mine.He says, we're in a thin market.
So if you're chasing after the highflyers, typically what happens is that

(45:25):
you're chasing them at the wrong time. They've already made their move. They've
already made their move. So that'swhy, as an example, I said,
two or three months ago financial stocks, right, I thought that there

(45:47):
was some great opportunity there for somebellweathers that I thought were trading at a
discount to where they should be tradingat. Now. I'm not a style
analysts, and I don't profess tobe at stock analysts, but I've been
doing it for forty one years andin my own personal portfolio, my own

(46:07):
personal portfolio, the only thing Iown, folks, is stocks. I
have no bonds and I have verylittle cash. I'm a stock buyer,
right, and what I try todo is to find the stocks that I
believe that are trading eddie discount towhere I think they should be based off

(46:29):
of their current position and what's anticipatedin the shooture. That's not a good
recipe for people that are in retirementthat need cash flow. Because my wife
thought I was insane last year.She thought I needed to go have a
chat with somebody and sit on acouch because we were down almost fifty percent

(46:50):
in the portfolio. But instead ofjumping out the window, what I did
is I jumped in and I boughtmore, and I've been rewarded for that
with my own individual portfolio. SoI guess what I'm saying to you is
that we've been in a low interestrate environment for such an extended period of

(47:10):
time that people had asset classes thatprobably they should have never been in.
They were participating in portfolios that theR word risk was too great for them
as far as the roller coaster ride, as far as the actual net asset
value of your portfolio. So itwas a brutal stretch last year when the

(47:39):
Federal Reserve was hiking interest rates totheir highest level in over a decade.
It was brutal, But we stillstill at the retirement planning group needed the
mother's milk of dividends, of dividendsto satisfy what our clients were looking for

(48:01):
as far as income income. Andyou can hear all of the screaming monkeys
and all the people that they're sogreat getting in, getting out, getting
out. There's one guy listened toin particular that tells me all the things
he does. And then I alwayssaid to myself, I should probably do
the opposite because he's so incorrect.Consistently, I probably would have a hell

(48:22):
of a return on my portfolio.You know, buy gold, cell goal,
get into bitcoin, get out ofbitcoin. You know, come on,
we all know that doesn't work.It doesn't work, does not work.
You might be lucky once or twice, but consistently it doesn't work.

(48:44):
So what you need to do isto find your allocation of money, your
acid allocation. Had a long chatwith a technical analysis a guy yesterday Nico
and I Christopher inside our conference roomas far as the allocations in the portfolios

(49:07):
to satisfy the income needs. Andhe was saying that right now, realistically,
depending on how you're allocating between stocks, bonds, cash, and alts,
you're probably being pretty comfortable at afive handle five percent five percent.

(49:28):
So if that is the case,right and you're stretching it above the five
percent, that means you're probably addinga little bit more risk to the portfolios.
Now. Like I said, Idon't have a problem putting alts in
a portfolio alternative investments, but there'stwo things. It's going to be a
long term investment, then people needto understand it. And there's going to

(49:49):
be volatility and it's going to moveup and down, and the bottom line,
it has to be liquid. There'sa lot of people out there right
now that are in alternative investments thatcame out. They're this whole thing with
the pandemic and the whole thing thatyou know, the low interest rate environment.
Now they want to get out ofsome of these investments and they can't,
or if they can, they takea little bit out. And I've

(50:14):
been involved in those things before.You know my backgrounds of pain Weber,
Morgan, Stanley, Dean Winter.I've been involved in investments that didn't give
you the liquidity when you wanted it. So I've been doing this a long
time. Make sure that if you'rebuying something that if you want your cash,
it's liquid and you can get itwhen you want it, not when

(50:36):
the portfolio manager says, nah,we can't do it right now. You're
gonna have to wait a little whilebefore I can give you your corpus back.
Not good my opinion, that's notgood. So you know, last
year was pretty dismal for tech NASDACis making it up this year, right.
I mean, you look at someof these individual stocks which most people

(50:58):
have not participated it, and thosethat are have they're dancing in the street,
the meta, the teslas, youcan go through the whole laundry list,
right, But for most of us, most of us were allocated in
a diversified portfolio, and you needto satisfy that one word income, income,

(51:19):
lots of it. So all right, I gotta take my break at
the top of the hour. HereI got about ten seconds. We're coming
back for a second hour. Thisis a retirement planning shop. I'm Dave
Kopeck. Gives us a qual ifyou would have any questions. Welcome to
the Retirement Planning Show with host DaveKopeck. In the financial services business for

(51:40):
over thirty five years. Their RetirementPlanning Group LLC is a registered investment advisor
David M. Kopac is also aregistered representative of perish Kaplan Sterling Investments Incorporated
PKS in their separate capacities. Aregistered representative of PKS, David M.
Copack may recommend the implementation of securitiesthrough PKS instead of Retirement Planning Group LC.

(52:04):
First Capital and Sterling Investments in RetirementPlanning Group l LC are not affiliated
companies. Now it's time for theRetirement Planning Show on w g Y.
As month as you took a standarship present. That's so trash. You
made it perfect. Liplane that shewas his for price, but he said

(52:29):
leave me alone. I'm afids thanmy fights, he said alone. I'm
a fan too, Just mind allright, we're back. Good morning.

(53:14):
I'm Dave Kopek. This is RetirementPlanning Show. We're here every Saturday from
seven am until nine am live toanswer your questions, educate you on pre
impost retirement planning. If you haveany questions. It's one eight hundred talk
w g Y. That's one eighthundred eight two five fifty ninety nine.

(53:37):
And we also have another show thatcomes on at twelve to one today.
I'm doing that live Retirement ready.It's not a prerecorded show and it will
be repeated on Sundays from eight untilnine pm. But we have four locations,
Oneana Albany, our corporate headquarters isin Malta, and then of course

(53:58):
Glen's Falls. If you'd like toand have a chat, be an honor
sit down with you to see ifwe can facilitate what you're looking for.
These are unprecedented times, folks,unprecedented we've gone through. I don't know,
probably if you look at the numbersand if you read some of the
data. I'm a big reader inthe morning, so I'm usually up at

(54:19):
four o'clock in the morning and Igo out downstairs and make my coffee and
I start looking at the computer andreading. But we are a very depressed
society right now. Very if youlook at the numbers and you read the
data, it's kind of scary what'sgoing on right now as far as people
that are not happy, not happywith this bickering that goes on in Washington,

(54:47):
the conflict between the two parties,what's going on financially with a lot
of individuals. I mean, wesurpassed I said this to a friend of
mine yesterday we're talking on the telephone. We're over one trillion dollars in credit
card done right now. We talkedto Jamie on w t R Y what

(55:07):
we do a spot with her everyFriday to do over what we're gonna discuss
on today's show, and I talkedabout how you need to get your house
in order and you've got to startpaying your bills with what you can afford,
not what you want. You know, I'm a big Dave Ramsey fan.

(55:28):
I don't believe in everything that DaveRamsey does, but there's one thing
that I do believe in that DaveRamsey is a huge believer in eliminating debt
and not living outside your means.You know, always talks about the BMW
and the driveway that you don't need, or the big fancy truck or the
SUV, and you know what,that's your decision. That's your decision.

(55:53):
But if you're spending you know,five six, seven, eight hundred dollars
a month for a car, whenyou can spend two hundred at your three
hundred dollars a month, and youcan go through the whole laundry list of
other things that you can do inorder to facilitate, you know, a
lifestyle that fits into your income,not one that you want. It can

(56:13):
make I think, a dramatic changein your overall attitude. You know,
I say this all the time toindividuals, especially, you know, if
you listen to the show, andyou've been a listener for a long time.
Both my mom and dad were farmers. They grew up on a farm.
My grandparents were dirt poor, dirtpoor. When I say dirt poor,

(56:37):
dirt poor, oudhouses, the pumpin the sink, you know,
a wood stove, non electric stoveor a gas stove, a wood stove.
And I remember that as a kid, and I remember how hard everybody
worked, especially my mom and dad, in order to facilitate a better life

(57:00):
for us. And we got it, all three of us. My brother's
a professional actor, my sister hasa great life, and I have a
great life, and a lot ofthat is because of riding the shoulders of
my mom and dad and everything theydid for us to give us an education
and a better opportunity in life.And when you hear that most people think

(57:22):
that the future for their children isbleak. That is pretty sad. That's
pretty sad. In the greatest countryon Earth. And one of the things
that we try to do when wesit down with individuals, we tried to
do a reality check and what's factand what's fiction. You know, a
lot of people like to blow theirhorns and tell you how great they are.

(57:45):
You know, I'm not in thatcamp. I just don't like it.
I don't think you know, ifyou're trying to, you know,
tell everybody how wonderful person you are. I think you've got some your own
personal problems. But what we tryto do is to give you the fact
as far as what's actually going onin the arena for people that are going
into the retirement and the Federal Reservejust came out of fidelity for fidelity gives

(58:10):
us a lot of information that comesover. I'm fortunate enough that it comes
to me first and I can filterthrough it in the morning when I'm sitting
down and drinking my coffee at fourthirty in the morning. But here's a
headline that was striking to me.Not so much that I didn't think it
was factual. I just didn't knowthe magnitude. But retirees, recent ones,

(58:37):
people that left during the COVID arereturning back to work. They're returning
back to work, and they're goingback to work for a lot of different
reasons, some psychological and emotional andsome financial. So when COVID sent the

(58:58):
economy into a tails been in twentytwenty, there was excess retirement. Have
you flown on a plane lately?Isn't that fun? I mean it's a
disaster. I mean, we usean airline that we consistently used over the
last ten, fifteen, twenty years, and it's like rolling the dice whether

(59:22):
you're gonna get off the ground ornot. Because my brother in law just
flew back to Oklahoma and delay gotdelayed I think for at least a couple
of hours. And then when hewas leaving Chicago, he got delayed because
they were waiting for another crew tocome in. They don't have enough people.
They do not have enough people.They'll tell you that. And the

(59:44):
pandemic created an unusual large amount ofretirees leaving the workforce because they just didn't
want to deal with the mask andthe stress. And you know, am
I gonna live? Am I notgonna live? Can I shake somebody's hand?
Remember how fun that was? Sowhen it comes back to this report,

(01:00:12):
I thought you'd find it interesting thatretirement lifestyles. Roughly half forty eight
percent of those working in retirement feltthey needed to work for financial fifty percent
they needed to go back to workbecause they did not have enough money,

(01:00:37):
and forty five percent decided they wantedto go back because they were bored social
and emotional issues. Right, peoplesay to me all the time, Dave
your sixty seven, when are you'regonna retire? I'm not going to retire.
Why the hell would I retire?What am I gonna do? They
stink of golf. They can onlybake so long on the beach. Before
you know, I said, youknow, my wife says, you're ready

(01:00:58):
to go? Right, Yeah,I'm ready to go after sitting in the
sun at eight five ninety degrees.This isn't fun. So I'm not going
to retire. I'll retire when theman upstairs either takes me or I know
that I can't do the job anymore. But I'm not going to retire.
May do I want to spend moretime with my wife and my kids.
Yes, but I'll facilitate that withmy employees. I mean, I got

(01:01:21):
great staff, and I have greatstaff I have exceptional staff. So if
you're getting ready to pull the plugand you're thinking about going into retirement,
I would say, have a chatwith your spouse, maybe sit down with

(01:01:45):
your financial advisor, and have arealistic expectation as far as what you can
take off the portfolio and what reallyis going to be your future on a
day to day basis. And I'vegot quiets that come in and they say

(01:02:06):
to me all the time, Idon't know how the hell I ever worked.
I'm so busy. I don't knowhow I got up and went to
work Monday through Friday. Because allI do is all these different projects and
things. They're pretty content. Ihave other ones that commended that say,
you know what, I need totalk to you about him, or I
need to talk to you about her. Okay, when you need to talk

(01:02:28):
about you know, he's driving mecrazy. She's driving me crazy. He
doesn't know what to do with himself. I find this with people that have
lived high caliber, high intensity jobs. They get out of it and they're
playing tiddly winks. They don't knowwhat to do with themselves. But the

(01:02:51):
big thing, of course, isthat when you make some decisions such as
soul security right. Once you selectto take the soul security after twelve months,
that's it. You bake the cake. You can't go back and change
it. That's why we are bigbelievers at the Retirement Planning Group of delaying

(01:03:16):
claiming soul security. Yep, that'sexactly what I said. Before making any
decision about whether to unretire, bearin mind that working in retirement may impact,
of course, your soul security benefitsdepending on your age. Now.
I'm not going to get into ithere because it's too boring, but it's

(01:03:37):
going to impact your soul security eitherpositive or negative, depending on your age.
Now. I'm not going to takemy soul security benefit until age seventy
for a lot of reasons. Idon't need it. It's the highest benefit
that I could possibly get, andit'd be wealth replacement for my wife,

(01:03:57):
guaranteed pension benefits for the less restof her lifetime, because that's the only
pension we have besides the money thatwe've accumulated. I will buy an annuity.
I will buy an annuity with myretirement assets in some form, in
some capacity to supplement our soul securitybenefits in order for her to have guaranteed

(01:04:18):
income for the rest of her life. So you need to be aware of
your soul security. What FIRA isfor your full retirement benefits from forty three
to fifty four. It's sixty sixfifty five, which was the year I
was born. It's sixty six andtwo months fifty seven, sixty six and

(01:04:41):
six months fifty eight. I mean, I'm not going through this is crazy,
but it goes that nineteen sixty atsixty seven FIRA. But I think
the biggest thing that I'm starting tosee more and more of is that it's
the emotional more than the financial.It's the emotional more than the financial.

(01:05:02):
So if you're considering retirement, ifyou're considering retirement, make sure you're just
not jumping out the window and saying, heehaw, I'm in retirement. Give
it some thought. We're also bigbelievers the mama and Papa should not retire
at the same time. You shouldnot retire at the same time. You

(01:05:27):
should have a time to adjust beforeyou walk out into the world of retirement,
so you can basically get your feetunderneath you as far as what you're
going to do on a daily basis, so you're not sitting there at the
kitchen table in the morning, staringat one another, saying, what are
we gonna do today? Now,I've got good friends of mine the same

(01:05:53):
age as me, my best friend, best man in my wedding, an
attorney who's retiring and he's ready forit. You know, they travel,
They'll probably you know, they justtraveled all over Europe when he was on
vacation. I guarantee that he'll probablybe on every continent. And that's what

(01:06:15):
they want to do. And Ithink that's fantastic. That's something that I
want to do, but maybe notto that magnitude. So if you are
going into retirement, make sure thepot is filled enough the buckets of money
in order to satisfy your financial needs. But a big part of it,
folks, is the emotional, theemotional side of retirement. We all know

(01:06:41):
that. When you know, thisis horrific because I've been doing it for
forty one years and I hate tosay it, but we've lost a lot
of clients over the last few years, good friends of mine, best friends
of mine, and it's horrible tobe there at the funeral parlor and at
the church in the burial. Youknow, I've seen too many. That's

(01:07:02):
why it's so important that you're gonnamaximize those years, minimize the emotional and
maximize the euphoria and happiness, becauseit's gonna go by quick. I got
a good friend of mine who's adoctor. He's a cyclist. He said
to me last time I had achat with him, He goes, how

(01:07:25):
old are you now? I said, I'm sixty seven. He says,
well, I got ten years onyou, and he snapped his fingers like
that. He says, you're gonnabe where I am in a very short
period of time. You know whatHe's right, So close your eyes,
don't know if you're driving, closeyour eyes and think about what is my

(01:07:50):
future for my retirement, And don'tsay I'm going to Florida. I'm gonna
sell everything and go to Florida,because I'll tell you what I believe it
or not. There's a lot ofpeople that are in Florida right now that
are unhappy. Too many people,too much pressure, too much traffic,
They've gone through too many disasters.There's a lot of people that are leaving

(01:08:13):
Florida and going to other states.Some are coming back to where they came
from. So it's worthy that yousit down, you work out your goals,
you work out you know what happensif these certain circumstances happen. What's
my alternative? What's my backup?I lose you know, my spouse?

(01:08:33):
Is this really where I want tobe? Do I have enough money?
Is or wealth? Wealth replacement therein order, you know, pension selection.
Nico and I went through a situationjust recently with a state retiree and
we're going over their pension benefits,and they're fortunate that they both have pension
benefits, and one is trying tofigure out whether they're going to take the

(01:08:54):
max or some kind of a benefitfor their spouse, and they really don't
have a lot of savings, butthey have a lot of money in four
fifty seven New York state deferred compwhich is more than adequate enough in order
for them to basically supplement supplement someform of a pension benefit or income.

(01:09:15):
But if they live long lives,that money's coming out because of R and
D. Right, it just depends. There's a different flavor every time.
Like Hans, you go to Hantersup in Half Moon where my daughter works,
Scoop and ice cream not everybody getsthe same flavor. Everybody has a
different choice as far as what they'reultimately gonna do. That's what we do.

(01:09:41):
We don't try to dictate, youknow, one particular type of investment
or pension benefit. We do participatein annuities, Yes we do, and
that dirty little word annuities, becausepeople like peace of mind and guarantees.
Seven out of ten of you likeguarantees. So if you want to have
a chat, give us a callfive eight five eight zero one nine one

(01:10:03):
nine. I'll be right back afterthis quick message the eighty six per centers.
Do you know that eighty six percentof the population has no defined benefit
pension plan. For most of us, we have to take our life savings
and create a paycheck for the restof our lives in retirement. What is
your plan for retirement income distribution?How will you manage your assets during the

(01:10:23):
most critical years of your lifetime.Nobel Prize winning economist William Sharp has called
retirement income distribution the nastiest, hardestproblem in finance. He points out that
investment, uncertainty, and mortality canderail the most careful laid out retirement income
plan. Call our offices today tostart the process of building your retirement income

(01:10:43):
distribution plan. After forty one yearsof being in the financial services business,
you need to start taking action tostart building your own personal retirement income distribution
plan. How do you do that? To take action? Five eight five
eight zero one nine one nine.That's five one eight eight zero one nine
one nine or RPG retire on theweb. Don't procrastinate, motivate to start

(01:11:05):
building your retirement income distribution plan fiveone eight five eight zero one nine one
nine. If you have any questions, please call in now at one eight
hundred eight two five fifty nine fortynine. That's one eight hundred talk w
g Y, one eight hundred talkw g Y. We are live in
studio to answer your questions. Babywith the warm nine, I can feel

(01:11:45):
you're watching in the nine hallllo withme. We're waiting for the sunne When
I feel cold, your warm me. And when I feel I can't come

(01:12:10):
on you come on old me itand me forever. My favorite song,
Oh, I'll just my favorite song, A little beautiful song. I remember

(01:12:40):
seeing them in Minneapolis Saint Paul manymany, many many years ago, and
I've been a fan ever since.I won't tell you. You weren't even
thought of Zach back then. Yourmom and dad might not have been married
back then. In the seventies.What year were you born? Eighty eight?

(01:13:01):
Double eights. Uh, you're justa puppy. Yeah, two thousand
for other Zach. Wow, that'sall right. Enjoy your youth. Youth
is wasted on the young. Youthis wasted on on the end. Look
that up and see who said that. All right, this is Retirement Planning

(01:13:26):
Show on Dave Kopec. We're talkingabout some of the dynamics. So what's
going on in retirement. You know, it's gonna be September here pretty soon.
That means the rubber hits the road, everybody gets back to work.
If you're contemplating retirement, contemplating thesooner you get going on at the better
off you're gonna be. We're youknow, I used to say three to

(01:13:49):
five years. I think five toseven now is really the magical number.
If you're fifty nine and a half, you can do what we call in
service distributions. You can take yourmoney from your Qualify plan, your four
oh one K and you can rollit into a self direct at IRA and
start building out your overall retirement incomedistribution plan our plans. We believe there

(01:14:11):
should be three components. We saythis all the time. There should be
income that is guaranteed. You doa combination of soul security ladder bond portfolios,
and I mean you can go throughthe whole laundret lifts the way you
can do guarantee CDs. You wantto have flexibility with that plan. You
want to make sure that you're notlocked into something that you can't either walk

(01:14:33):
away from or you know exactly,you know what the repercussions are if you
do walk away from it. Andthe final thing is, of course,
depending on your pool of money,you need growth. You need growth for
purchasing power. We're at four dollarsa gallon. I paid four oh five
this morning for gasoline. I wantto puke. You know, we're living

(01:14:54):
on some of the greatest reserves inthe world, greater than Saudi Arabia.
We're paying four oh five for gasoline, and we're buying the stuff from the
tar from Venezuela. Isn't that great? That great? We're buying the tar,
the most horrific stuff, and they'reprocessing it in Houston Texas when we're

(01:15:17):
sitting on top of the cleanest energybetween natural gas and oil in the ground,
so you're gonna need purchasing power.Everybody I talked to is kind of
flyaber gases right now with the costof things, healthcare taxes. You know,
there's a song that's out right nowthat's all over the internet. A

(01:15:43):
gentleman I believe he's from Tennessee,and if you listen to it, I
was gonna play it for you today, but I can't because it's got some
dirty words in it. But it'sa great song and it talks about life
ain't the same anymore. Basically,life ain't the same anymore. You know,
the fact hats are taking all themoney. Who's watching out for the
little guy? Well, we're watchingout for the little guy. Our client

(01:16:09):
base, most of them, wehave multi multimillionaires, and we have people
that are fifty sixty seventy eighty thousanddollars with us that it means as much
to them as it does the guythat's got the multimillions. But our bulk
the business are hard working savers.That's the people that we work with,
farmers, people that work for NationalGrid Bimbo Bakeries, go through a whole

(01:16:30):
laundry list, plumbers, electricians.When I look at our golf league that
we have on Thursday nights, electricians, plumbers, people that work for the
state, accountants, attorneys, CPAs, it's a multitude of people. A
lot of them were self employed,self employed and they're working with us to

(01:16:51):
facilitate retirement income distribution. So let'ssay key takeaways. You got to prepare
for life's eventual curveballs with a retirementplan that combines income from multiple income sources.

(01:17:15):
Multiple So if you're considering working witha financial professional, give us a
call at the Retirement Planning Group.You can give us a call at five
one eight five eight zero one nineone nine. We do a lot on
the internet now with zoom face toface meetings. Like I said, we
had a woman call in needs totalk to us. We're going to Gloversville
on Monday. We want to havea chat with her and her mom.

(01:17:35):
But again five eight five eight zeroone nine one nine. I'm Dave Kopeck.
This is a retirement Planning show.We'll be right back after this quick
message. G why a dog dogagain? Right? Good morning. The

(01:18:20):
people that weren't with us in thebeginning. I want to thank the people
that participated in the golf outing forthe American Cancer Society because we're all no,
it's uh something that has to beeliminated. I've had too many loved
ones that have passed from cancer.Probably no one that's listening. Probably everyone

(01:18:44):
that's listening has had some impact withcancer. We had a great day and
it's an honor of my brother inlaw, Steve Janis, who died from
cancer. And uh, we're havinga another golf event. I'm not too
sure how many more slots are open. We're getting pretty full. But in

(01:19:06):
September twenty eight we are having theSwing for a Cure at the Fairways of
Half Moone. It's an event wherethe proceeds this year we'll be going to
the American Cancer Society. It stayslocal here in the Capital District region.

(01:19:27):
And last year, I don't know, I think we generated something like twenty
thousand dollars, but we split betweenthe American Cancer Society and Cystic Fibrosis.
We're not doing that this year becausethe money with cystic fibrosis goes national,
doesn't stay local, So we're goingto stick with the American Cancer Society.

(01:19:48):
So if you'd like to participate Swingfor a Cure. It's a great day,
great prizes, it's a great event. It's a good course, it's
a challenging course, and it's alsoone that's well taken care of. Mister
Tanski does a wonderful job up thereas far as first class taking care of

(01:20:08):
us. And we look forward toSwing for a Cure September twenty eighth.
I think we tee off like atnine in the morning, and it's a
shotgun start, So if you're ina hurry and you had to get back
to work, you'll probably be outof there, probably no later than two
o'clock. And you can call Jimat five wint eight five eight zero one

(01:20:28):
nine one nine. That's five oneeight five eight zero one nine one nine.
He'll let you know what's available.And I'm not too I'm not even
too sure what the cost is.It's it's minimal. Whatever it is,
it's not a lot of money.So again, Swing for a Cure,
September twenty eighth. The last thingI want to cover today is uh,

(01:20:53):
A couple of things. A lotof questions that I get recently is Uh,
how is the election? How doyou think two thousand and twenty four
is gonna filter out for the election? I don't have a crystal ball,

(01:21:18):
And you know, I was veryapprehensive, as I've said on the radio
in two thousand and twenty two,with what was going to happen as far
as the Fed interest rates, thestock market, and the net asset value
of bond portfolios. I still havea little bit of that anxiety for two

(01:21:40):
and twenty four because of the uncertainty, the uncertainty on the legal side of
it with the Republican Party, specificallyTrump. And I also have a concern
as far as this hostility that existsbetween the Democratic and the Republican Party,
which I don't think is good forthe financial markets. And you know,

(01:22:04):
strong dollar and I'm a Larry Cudlowfan, and Larry Larry Cudlow is a
big believer and a strong dollar,but he's also you know, that's the
currency that kind of rules the worldright now, is the dollar, and
China is doing everything within their power, Iran and some of the other friends

(01:22:25):
of those countries of eliminating the dollaras the currency of the world. And
if that is the case, thatcould really have a dramatic impact. I
think, a dramatic impact on thefinancial markets. I don't think it's going
to happen. I think that there'ssmart people out there that understand the ramifications

(01:22:45):
of that did happen. But nevertheless, you know, you got you know
the problem I think with society todaywhen the financial markets. When I first
got into the business at Payne Webber, most of the people that came in
to see us had some form ofa pension benefit. As you are quite

(01:23:12):
well aware, that's not the caseanymore. So if you don't have a
pension benefit and you're relying on soulsecurity and the money that you've accumulated in
your lifetime, you better have somekind of a consultant that you're working with
in order for you to have arealistic expectation of the amount of money that
can be taken off a portfolio,and also how volatility point of entry is

(01:23:35):
critical to your overall success. Imean, I can talk about this until
I'm blue in the face, andI know we talk about it a lot.
If I look at anything in thefinancial markets, that's probably besides interest
rates and the direction of the stockmarket, it's point of entry. When
am I actually getting into my retirementyears? And when do I have to

(01:23:59):
draw off the bucket that's there forcash in my marting market account? Why
is that so important? Because youbetter have some money in there. Especially,
you know, for people that retiredin two thousand and twenty two that
saw the down draft right and theywere taking some form of a systematic withdrawal
off their portfolio, dividends and maybeliquidating some of their positions in order to

(01:24:24):
satisfy their income need by the endof the year, they weren't happy.
They weren't happy at all. Anddepending on how they were allocated between percentage
of stocks to bonds. You know, if you had eight hundred thousand dollars
portfolio, they eight hundred thousand dollarsportfolio might have been down to six hundred

(01:24:44):
thousand or five fifty depending on howyou're allocated. You still need to keep
on drawing on it in the yeartwo and twenty three. That can make
your financial goals distorted greatly, andalso your expectations of what the quality of
your life is going to be inthe very near future. You know,

(01:25:04):
we had some people that you know, we're talking to us that came in,
had a chat. It was highanxiety, It was very stressful.
But I'm in the camp now,and I've been in this camp for quite
some time. Get your buckets ofmoney set up so you don't have to

(01:25:26):
deal with the day to day,month to month. For those that haven't
listened to the show, when Italk about this, this to me is
mission critical. If you're in afour oh one K program with X y
Z Corporation, you're sixty, youwant to retire. Let's say at FRA
a full retirement age. Let's sayit's sixty six. Just to keep it

(01:25:47):
simple, you've got six years.You got a million dollars in that portfolio.
We know we can give you fivepercent guaranteed right now, no questions
asked. So that's going to generatefifty thousand dollars multiplied by six years,
you're gonna have three hundred thousand dollarsin your cash bucket. In your cash

(01:26:08):
bucket, no questions asked. That'sthe amount of cash that you're going to
have available to write checks against inorder to satisfy your income need. For
the other guy that decides, I'mnot going to do that, and I'm
going to do point of entry.So when I retire, I take my
money and then I walk into myretirement I sit down with the financial advisor

(01:26:28):
and say I want out the doorin thirty to sixty ninety days. Now
you've got to have your fingers crossedor maybe you're in an interest rate environment
at that time that's much higher rightthan we are right now. But statistically
that's probably not going to happen becauseif you listen to the you know,
the brain's on Wall Street, thenext move for the feed is down.

(01:26:49):
It's not up. I mean,I listened to a guy the other day
that's a raging bear, and he'sbasically saying is that we're pretty damn close
to a recession again, and youknow, the Fed's going to have to
really start pounding. And he's youknow, he goes through the whole laundry
list of this key data that helooks at, and one of the key

(01:27:12):
things that he looks is the abilityfor the consumer to purchase goods and services.
And he looks at the amount ofcredit card debt that's out there right
now held by consumers one trillion dollars. Talked about it earlier, one trillion
dollars. It's a cancer. It'sa cancer. I've been there, talked

(01:27:34):
to Jamie about it on Friday.Anybody that's been there that has a high
amount of credit card debt, it'sdaunting. That can add gray hair to
your head very quickly. So thething is is that if that is the
case, and you want to makesure that you're going into your retirement years,

(01:27:57):
you've got a good amount of moneyset in your money market account,
your cash account, then you're gonnafeel a lot more comfortable going into your
retirement years than you did if youwalked into a bear market like we had
in two twenty two. So talkto your financial team, your financial divisor
find out about in service distributions.If you haven't discussed it, come I

(01:28:20):
didn't have a chat with us.We do it all the time. We're
a big advocate of it. Westart building out the buckets of money,
the income stream that you're gonna need. We have e Money, which is
a great software package that we havethrough Fidelity, basically gives you a what
we call a dashboard of exactly whereyou stand, your net worth, what

(01:28:45):
you are anticipated cash flow will befor your retirement years. There's some variables,
but if you have pension benefits andyou have soul security, they're going
to be pretty accurate. And ifwe use a number today that's realistic five
percent, we're going to be prettymuch on target as far as what's going
to be expected for cash flow ona monthly basis E money in my opinion

(01:29:14):
is probably you know, I saythis probably too often. It's one of
the greatest things that I've seen inthe financial services business because it's simplistic,
it's easy, but it gives youall the information that you're looking for.
It can be as robust as youwant it to be. But most individuals
that come in and they just wanttwo things, Am I okay? And
how much can I spend? AmI okay? And how much can I

(01:29:36):
spend? So if you want tobe in that position, give us a
qual at five eight five eight zeroone nine one nine. It's RPG retire
on the web. RPG Retire onthe Web. We're going to come into
our final segment here. If youhave any questions or comments and kind of
quiet today exact what's going on?Did Droyello and all of his pals chase

(01:29:59):
everybody away? Last week? Yeah? So what happened? But if you
want to have a chat, youhave a question or comment. It's one
eight hundred talk WGY one eight hundredeight two five fifty nine forty nine.
I'm Dave Kopek. This is aretirement planning show. We're here until the
top of the hour. We'll beright back the eighty six per centers.
Do you know that eighty six percentof the population has no defined benefit pension

(01:30:21):
plan? For most of us,we have to take our life savings and
create a paycheck for the rest ofour lives in retirement. What is your
plan for retirement income distribution? Howwill you manage your assets during the most
critical years of your lifetime. NobelPrize winning economist William Sharp has called retirement
income distribution the nastiest, hardest problemin finance. He points out that investment,

(01:30:44):
uncertainty, and mortality can derail themost careful laid out retirement income plan.
Call our offices today to start theprocess of building your retirement income distribution
plan. After forty one years ofbeing in the financial services business, you
need to start taking action to startbuilding your own own personal retirement income distribution
plan. How do you do thatto take action five one eight five eight

(01:31:05):
zero one nine one nine. That'sfive one eight five eight zero one nine
one nine or RPG retire on theweb. Don't procrastinate, motivate to start
building your retirement income Distribution plan fiveone eight five eight zero one nine one
nine. If you have any questions, please call in now at one eight
hundred eight two five fifty nine fortynine. That's one eight hundred talk w

(01:31:27):
g Y, one eight hundred talkw G Y. We are live in
studio to answer your questions. Yeah, okay, we are back. Another

(01:32:23):
great tune. A little more housekeepingby operations manager Lisa. Excuse me,

(01:32:45):
a little scratchy throat this morning.Is having surgery. She's having a hip
replacement. I'm Friday, and ifshe's listening, I want to let her
know that we're gonna be praying andwe're gonna do everything we can in order
to help her out. She's gonnabe working for home for a couple of

(01:33:09):
weeks as she heals. It's prettyamazing. I had my best friend,
the gentleman I just talked about thatwas the best man and Julie and my
wedding. I had a hip replacement. He's playing golf with me on Thursday
nights. He just had that donejust recently, a few months ago.

(01:33:30):
So it's it's amazing what can bedone today with technology and our healthcare system.
So Lisa's going in for a littlerobotics. She's gonna have a new
hip put in, and we're gonnabe thinking about her. I know that
she's been battling this for excuse me, apologize, she's been battling this.

(01:33:53):
Uh, there's nothing worse than pain. And hopefully we're gonna get that giddy
up ball straightened out and she'll beback in the saddle. And but she
will be working from home for acouple of weeks until she gets back to
where she has the mobility that sheneeds. So God's speed, Uh,
you know, let me everything gookay, right. You know. One

(01:34:16):
of the things that I have foundbeing in business for as long as I
have now for forty one years,is that, you know, one of
the things that we try to overemphasize to individuals that are going into retirement
is to try to, you know, simplify everything. And one of the
things that I consistently see a matterof fact, the reason why we're going

(01:34:39):
to Gloversville on Monday. Is thatwe had a nice chat, wonderful chat
with his mother's daughter, and youknow, they've kind of got things scattered
all over God's creation and at leasthas been a true expert, I would
say, an expert basically taking thepieces of the puzzle, simplifying them,

(01:35:00):
putting them into one location. Andyou know, as you age, having
moneys all over town and in differentlocations is not easy for the surviving spouse.
We've seen it. It's not good. And one of the things that
we try to over emphasize the individualsis that as you get closer to your

(01:35:24):
retirement and as you get into yourretirement years, consolidation and simplification is your
friend, especially in qualified assets.I raise four one k's New York State
Deferred compensation TSPs go through that wholelaundry list with federal employees. So there's

(01:35:45):
always a few things to keep inmind when you're going into your later stages
of life. You know that wehave a lot of individuals here that listen
to the show that are a littlebit longer in the tooth than some of
the other ones. But there's fivekey steps which I'm gonna go over real

(01:36:05):
quickly here and then we're going tosay goodbye for the week. Is that
you have to identify your own personalfinancial goals. To us, we don't
do a cookie cutter approach, neverhave and never will. And I'm always
kind of flabbergasted by the people thattry to do business over an eight hundred
telephone number, because my personal opinionis is that it really can't be done.

(01:36:29):
You really can't get into the nittygritty and you can't get into the
things that really need to get donein order to simplify, consolidate, and
then transfer with the least amount ofbumps in the road. Soul security for
the surviving spouse is also I consideredto be a critical piece of retirement right

(01:36:51):
now, especially for the one thathas been the greater earner in the family
as far as the potential for viborshipbenefits. So just because you're eligible for
soul security, just don't go outand get it. If you have moneys
that are in qualified plans, weare big believers, especially with R and

(01:37:13):
D, to spend that money downin order to get you to a higher
soul security benefit. So that ismore than adequate enough to facilitate what wealth
replacement is going to be necessary forthe surviving spouse. And the big thing
which nobody wants to talk about iswhat's happening with long term care. All

(01:37:35):
the reports that I see recently,all of the publications, everything, all
the face to face meanings that wehave with individuals. We just had a
woman that came in the other day, that's coming in and she's getting about
a thirty five percent increase in herlong term care premium thirty five percent this

(01:37:55):
year increase in her long term care. And the question becomes, does it
make sense to continue those payments orshould you be looking at possibly reducing them
some of the things that are availableto you as far as satisfying what would
be the quality of life that youwant, either home care, assistant living,

(01:38:18):
or a long term care facility.No one likes to think about retirement
and health issues, but the realityis is that most of us will have
to face it. And it's aquestion do you have your eggs in the
right basket or if you allocated moneyinto the wrong basket. I know personally
because we lived at Julie and Ifor six and a half years, it

(01:38:39):
can be an unfriendly visitor at yourdoor when you have to provide benefits of
some capacity for family members. Asfar as caregiving, it's not fun.
It affects families. It can alsobasically put you in a position that's going
to add stress not only yourself personally, but also the stress that it would

(01:39:03):
put on your children in your spouse. So I know that long term care
right now is a very expensive propositionfor a lot of you. We are
major advocates, major advocates of trustdocuments, whether it's an irrevocable trust or

(01:39:23):
revocable Of course, we've had FrankLaying on numerous times to talk about the
benefits of an irrevocable trust. Whopiros on from eleven to twelve. He
has his own show that talks aboutelder law, medicaid planning. Does a
phenomenal job. I think it's extremelyinformative. So don't forget about the guideaop
or the Achilles heel that most ofus, most of us that are sitting

(01:39:45):
here today have not adequately prepared fora long term care event. And if
you think that putting your money insidean irrevocable trust is going to solve problem,
it might, but you're still goingto have to try to figure out
the care giving that you're going toneed, either at home, assistant living

(01:40:06):
or in a long term care facility, and who's going to make the choice
of that particular facility. So tohighlight a little bit, work with a
financial team. You know, mostof the individuals that I know that have

(01:40:27):
been in the business as long asmyself, they're no longer individuals just doing
this by themselves. They are workingwith teams. That is the trend will
continue, and I think it's goingto become much more the standard in our
industry, especially as we get moreand more individuals that are basically living longer

(01:40:50):
lives and trying to figure out howthey're going to basically take these investment portfolios
and create income streams and conjunction withsoul security. So if anything that I
discussed today is of interest to you, as I've said a million times,
we offer a complimentary consultation four locations, Oneana Albany corporate headquarters is in Malta

(01:41:15):
and of course Glen's Falls. Welove the opportunity to sit down, have
a review see if our team offinancial professionals can make your investment plan a
little bit better put you on trackto meet your lifestyle and your income needs.
That's the key, meeting your lifestyleand income needs. And you can

(01:41:39):
do that by simply checking us outon the web at rpg retire dot com.
That's rpg retire dot com. Orgive us a call at five eight
five eight zero one nine one nine. We've had some great people call us
from radio. It's been a greatyear so far meeting new individuals. And

(01:41:59):
you gotta be a client to cometo our Christmas party. Don't forget it.
We're gonna have our Christmas party thisyear. No knows. We are
definitely having our Christmas parties. Justa question where we're gonna hold it because
we're gonna have about three hundred people, so we're having a hard time finding
the right facility in order to facilitateit. So again, if we can
be of assistance, five win eightfive eats zero one nine nine five eight

(01:42:25):
five eats zero one nine one nineis our telephone number. And please say
a prayer for my New York Yankees. Look at Zach Zach. Are they
going to come back this year?Is there a chance? No, no
way, They just don't have it. Huh, no fight what pitching?
No pitching, no hitting? Right, Yeah, that's awful, that's what

(01:42:46):
he's saying behind the screen here.Awful. So I have a safe day.
I know that a lot of peopleare kind of probably going to be
doing a lot of running around.Tomorrow is going to be the hot day.
Be a lot of beaches will befull, be a lot of boating.
I'm heading up to Lake George lateron this afternoon. I've got some
family members that are in town fromFlorida. Look forward to sitting down with

(01:43:08):
them, having a chat, havinga nice dinner. But again, it
would be an honor and a privilegeto work with you. We have the
ability to talk to you over thetelephone and if you'd like to do that
firsthand, be more than happy todo that. Zoom has become a very
important part of our platform over thelast couple of years. Give us a

(01:43:29):
call at five one eight five eightzero one nine one nine. That's five
one eight five eight zero one nineone nine. Check us out on the
web rpg retire dot com. Besafe, be secure, enjoy your weekend.
Monday will be here before you knowit, Labor Day, it will
be here. We'll be back inthe grind come September, which is hard

(01:43:49):
to believe. LEAs will be fallingand the snow will be coming down,
so I don't know. It's alot of people like winter, but not
me. I'm not a winner personanymore. So we'll see you next week
for another retirement planning show. Godbless, I'm Dave Kopeck. We'll see
you next week. The information providedis for educational informational purposes only. It

(01:44:12):
does not constitute investment advice, andit should not be relied on as such.
It should not be considered a solicitationa buyer or to offer as seal
security. It does not take intoaccount any investors particular investment objectives, strategies,
tax status, or investment horizon.You should consult your attorney or tax
advisor. Thank you for listening tothe Retirement Planning Show hosted by David Kopeck.
If you would like to talk withDave or someone at the Retirement Planning

(01:44:33):
Group, call five eight five eightzero one nine one nine that's five one
eight five aide zero one nine onenine during business hours, or visit us
at RPNG retire dot com. TheRetirement Planning Group has three convenient offices located
in Albany, Malta and Glen's Falls. Retirement Planning Group LLC is a registered
investment advisor. David M. Kopecis also a registered representative of Persh Kaplins

(01:44:57):
Sterling Investments Inc. PK in theirseparate capacities. A registered representative of PKS,
David M. Copeck may recommend theimplementation of securities through PKS instead of
Retirement Planning Group LLC. Persch Kamplin's, Sterling Investments in Retirement Planning Group LLC
are not affiliated companies. Tune inagain next week for retirement planning Strategies with
David Kopeck on The Retirement Planning Show.