Retirement Planning Show

October 14th, 2023

Episode Transcript

(00:01):
Welcome to the Retirement Planning Show withhost Dave Kopak. In the financial services
business for over thirty five years.The Retirement Planning Group LLC is a registered
investment advisor. David M. Kopakis also a registered representative of perce kaplan
Sterling Investments Incorporated PKS in their separatecapacities. A registered representative of PKS,

(00:22):
David mcpak may recommend the implementation ofsecurities through pks instead of Retirement Planning Group
LLC. Perce Caplin, Sterling Investmentsand Retirement Planning Group LC are not affiliated
companies. Now it's time for theRetirement Planning Show on WGY and good More

(01:00):
Morning, Good morning, good morning, Welcome to the Retirement Planning Show.
My name's Nicholas Thumas, financial plannerwith the Retirement Planning Group professional planning consultant
as well. We're live today,so if you want to call in,
there's one eight hundred eight two fivefive nine four nine. If you're rolling

(01:21):
out of bed and you have acouple questions about retirement financial markets where you're
at, if you want to talkabout the accounts that are available to you
and what you should do with them, we'd be more than happy to do
that with you life insurance. It'sanother major topic we've been having a lot
of conversations about specifically over the lastfew years here with COVID and people nervous.

(01:47):
And I think I have Dave Kopekon the line. Is he over
there, Zach, Hey, Dave, can you hear me? Nope,
I got nothing. That's okay.Dave's down in Florida this week. He's
helping his son David move down toTampa, so he is not in the

(02:09):
studio with me today. But Ido think we're gonna get him on the
line here at some point. Butagain, there's a calling show. We're
here to answer your questions. Oneeight hundred eighty two five five, nine,
four nine. We're right here onw G I again, my name
is Nicholas Dumas. But we're theRetirement Planning Group. What do we do?
We help folks. We help bothpre and post retirees with retirement planning.

(02:32):
Those folks entering the red zone.If you're three to five years out
from retirement, what does that looklike for you? Have you thought about
it? Have you thought about anincome distribution plan? Where's that next paycheck
going to come from when that toothfairy stops putting it under your pillow.
So it's important to start thinking andstart developing a plan surrounding your retirement and

(02:53):
making sure at the accounts you've beencontributing to your whole life, you're gonna
be able to take this intributions offthose accounts and they're going to be there
for the rest of your life.Another crucial factor is if you want to
leave a legacy. We talk aboutlegacy dollars and a transfer of wealth in
a tax efficient way, and it'simportant to start looking how your accounts are

(03:15):
titled from a tax perspective. Arethey qualified non qualified dollars? Do you
have some sort of life insurance taxfor inheritance? And are those assets protected?
Hey? Can you hear me?I can hear your brother? Yep,
good morning. I got some technicaldifficulties here. Oh yeah, with

(03:39):
the app for whatever reason? Canyou guys hear me? Okay, yeah,
yeah, I've got you out andclear over here? Okay, great,
all right? How is everyone housed? The weather in upstate New York.
It's ninety degrees and sunny, beautiful. That's what I want to hear.
You're right. I came here withthe I've got my jacket on,

(04:01):
and I had a nice beanie fortyseven. This morning. Well, I
won't tell you what the weather isgoing to be down here today, but
I've got a lot of conversation forthis morning, because you know that I'm
not a wallflower. Yesterday I spenta lot of time talking to people down
here in Florida about what's going onand the quality of life, and every

(04:26):
one is quite well aware. Inmy office, and as I've mentioned on
the radio show before, David movedinto his apartment yesterday here in Tampa.
He's in the downtown, kind oflike the what I call the yuppie district,
and very excited. He is reallylooking forward to his next chapter of

(04:48):
his life down here in Florida.But you know, there's there's a little
bit of tarnish coming off the applehere, which I'm going to talk about.
And but before we get into thatone, let's we talk a little
bit about the markets, Nico,because I'm actually shocked that the markets were
as resilient as they were last week. The Dow was up about eighty basis

(05:10):
points, the S and P wasup forty basis points, you know,
pretty much flat. Nasdaq was flat, was down about twenty basis points,
which is nothing. But it justgoes to show that, you know,
sometimes the markets are not looking atthe headline news. Yeah, no,
I think you're completely right. Imean, with all the Israeli conflict going

(05:30):
on overseas and we're still seeing themarkets hold their own, especially over the
last five days. Yeah, there'sa lot of uncertainty out there and I'm
getting a lot of it in appointmentsin the office ECO. How's this can
to affect us? What's going onright now? And a lot of folks
are scared. They don't know what'sgoing to happen, and they think oil
prices are going to shoot through theroof. And it's just a conversation with

(05:55):
a lot of folks out there,And I think you're right. I mean,
the market kind of turned its headfrom this kind conflict going on overseas.
Yeah, it's you know, it'sa horrible thing to watch. My
heart leads for these poor people thatare going through not only the loss of
loved ones, but also you know, the captives. No matter what side

(06:17):
of the defense you're on, warsnever good and no matter what side of
the defence is, it really doesn'tsolve a lot of issues. And you
know, I know down here yesterdaythere was some demonstrations in downtown Tampa in
regard to the war. Those wereall quite well aware yesterday was a day
that they wanted us to basically heartheir side of the equation on the Palestinian

(06:41):
side. But you know, Ithink what you have to do is to
understand that we live in a worldtoday, Nico, that the unthinkable is
thinkable, and you know, thesavagery that we've seen, the beheadings,
the murders women Hill and it's justhorrific. And the thing is is that

(07:04):
you just got to, you know, I guess bottom line, pray,
pray for a better day because thisreally hopefully it won't snowball and get out
of control. I mean, everybody'sworried a little bit about you know,
could this really be the start ofanother world war. There's been all sorts
of headlines about that, but likeI said, the markets have been resilient.

(07:26):
We're keeping our you know, eyeson the ball here and making sure
that we understand exactly what's going on. But hopefully there'll be some kind of
a resolution here. It doesn't looklike it's going to happen in the very
near future. So as investors,you're going to have to basically maybe stomach
some things that you don't want tohear or see, because you know,
war is never pretty. Yeah,it's it's never a pretty topic. It's

(07:50):
never a it's not something you wantto see happen. Yeah, we've got
a lot of folks who we've beendoing a lot of work with guaranteed products
over the last couple of months here, just because interest rates have come up
quite a bit, you don't haveto really worry about the stock side of
the equation or the effort side ofyour portfolio. A lot of folks,
I mean, they're only taking fouror five percent off their portfolios and that's

(08:13):
what they're happy with. I mean, you can get that in the guaranteed
market right now. So why takerisk if you don't need it? I
mean, yes, you do needlong term growth, so a portion of
the portfolio should be there. Butagain, I mean I completely I'm on
the same page as you, Dive. I mean, it's tough what's going
on over there, and you prayfor those folks and hope that things get

(08:33):
better, but you don't know what'sgoing to happen at the end of the
day. Yeah, absolutely, SoI think what we want to do this
morning is go over a little bitof the markets and some of the things
that people should be considering. Youknow, I've been doing it now for
I'm in my forty second year,which I hate to say, but that's
the reality of life passes by sometimesvery quickly. I've seen good markets,

(08:56):
bad markets. I've gone through wars, I've gone through financial credit is terrorist
attacks, and it's never fun.It's upsetting, and it's also you know,
in a lot of ways, youknow, causes a lot of stress
for individuals. So hopefully we canfind some kind of a path here that
people can at least have some maybealternative ways to look at managing their assets

(09:22):
during these difficult times. So whydon't we take our first break here.
Then we come back we can getinto it, Nico as far as you
know, maybe some alternative products thatpeople should be looking at. And I
know that the treasure market had abig rally this week. I mean the
treasury had a seventy basis point move, which is a who you know,

(09:43):
it's unbelievable move. So I thinkthe ten year closed at four sixty two
four point sixty two on the tenyear, but maybe you can give out
some rates because I don't have acomputer in front of me right now as
far as what the you know,the one year and the two year,
not as far as the treasury.So we'll be right back after this quick

(10:03):
message the eighty six percenters. Doyou know that eighty six percent of the
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(10:24):
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(10:48):
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(11:11):
now at one eight hundred eight twofive fifty nine forty nine. That's one
eight hundred talk WGY, one eighthundred talk WGY. We are live in
studio to answer your questions. Allright, we are back. I can

(11:48):
hear Nico dancing in the studio.You're not even in the studio today,
and you're getting to pick all themusic. Hey, listen, you know
the guy that pays the bill picksthe music. That's how it's going to
be. Well. Listen, Igot you can do country and Western.

(12:09):
In the second hour, I've gotsome news. You know. The thing
is is that I think Nico's wellaware of what's going on. But you
know, I've asked for prayers overthe last few months for family members,
and you know, I'm sad tosay that my cousin John passed away on
Thursday, with a very strong battlethat he made with pancreatic cancer. Because

(12:35):
you're all quite well aware, wehave a golf outing every year, Swing
for the Cure. My wife Julieand my niece Lindsay went down and presented
a check for fourteen five hundred dollarsto the American Cancer Society this week,
and I believe the day after,John passed away from cancer. So I

(12:56):
thank you for the prayers. Youknow, it's horrible disease. He died
way too young, a gentleman,a kind soul, just a wonderful sixty
days ago, I was with himat the track up in Saratoga, and
now he's passed. And Nico doesn'tknow this, but I got a phone
call from my other cousins this pastweek, yesterday, matter of fact,

(13:20):
and I'm at the airport. Ilanded in Tampa, and I got a
message to call. And you knowdoug Kwasnski right, Yeah, Well,
his son's a doctor, thirty nineyears old, was doing rounds and said
I needed to go, I needto go take a nap, and didn't

(13:41):
wake up. Thirty nine years old, a doctor, So Dougie, Dougie's
son passed away yesterday. So it'sbeen a horrible week folks for family.
You know, it's just it's oneof the things I want to talk about
today because we talk about it alwaysin great detail with individuals, and I

(14:05):
know that Nico has heard me saythis a million times. You know,
tomorrow's never promised, and you neverknow what's going to happen. And people
have an ability to procrastinate and notmotivate and do the things that are necessary.
And there's two situations, two peopleway too young to pass away.

(14:28):
I mean, we're shocked about doctorDougie. You know, it's just thirty
nine years old. He's taking workin the intensive care unit and want to
take a nap, and nobody knowswhat happened. I guess will know eventually
what happened. So I got amessage from my cousin and the messages make

(14:56):
sure you tell your kids that youlove them, yeah, and make sure
that you give him a hug everyday. And you know, don't make
big small things big things, becauseas we just said, nobody knows what's
going to happen here. And whenwe're gonna, you know, get our
clock punched as far as when it'stime for us to leave earth, and

(15:20):
I think what happened overseas, theyyou know, the whole Middle East conflict.
We live in crazy times today.And you know, I'm a big
you know, like I Nico knowsthis. I'm a big believer in prayer,
the man upstairs, and I thinkwe all should say a prayer this

(15:43):
weekend that this earth becomes a littlebit better of a place for all of
us. So the tough week,brother, Yeah, no, I mean,
I like what you said about tomorrow'snever promised. Yeah, I mean,
you don't know what's coming around thecorner. But now, Dave,
I'm sorry, that's awful what you'vegone through over the last week. Yeah,

(16:07):
it's just been a very very veryvery difficult week. But if you
believe in God, you believe inthe air after you know that they're going
to a better place. And thething is is that, as I always
say to people, is that youknow, retirement, Nico, as you're
all quite well aware, is thetime for all of us to rejoice and
have happiness for a hard working life. We do a lot of work with

(16:32):
National Grid and with some major corporations. Most of them are hard working savers.
They go out and bust their tailthirty forty years, whatever it may
be. And the thing is isthat I'm always perplexed when we tell people
our job is to manage the moneyand your job is to go out and

(16:52):
have fun. But I can't overemphasizethat enough. And I think Nico,
you'll find out when you have decadesunderneath your belt, like my self,
you'll find that this will resonate probablya little bit more with you. I
know it resonates with you, butwhen you've gone through the battle so many
times, it really does resonate withyou. Is that you know what dance

(17:14):
as if nobody's watching, just youknow, live your life. Well,
yeah, no, I'm almost ata decade, Dave. I'm almost there.
I know you are, I know, which is great, and you
do a fantastic job for a youngprofessional. I just think I'm so proud
of you and what you've accomplished sofar, and our team, our team.

(17:36):
I couldn't be proud of our team. But again, I want to
say one thing, you know,that's a little bit of a story.
So I've seen kind of down onthe dumps this morning. I just wanted
to give people kind of a summaryas far as what's transpired here over the
last week. But I want tosay one thing to all of our listeners,
because we've got great listeners, andwe've got great people that listen to

(17:57):
our show, even if they don'tdo business with us, and that's fine.
We're here to educate and inform you. If you think we can help
you, that's good too. Butwe had an unbelievable response and eco from
people that sent in checks that hadno, you know, affiliation with us,

(18:18):
but just listened to the show andknew that we were doing the Swing
for Cure. And then we hadfamily members that were battling cancer. We
still have one left that's battling cancerright now, Kelly, God bless his
soul. John didn't make it,and you know, but to walk in
there and see Julie and Lindsay witha check for fourteen hundred dollars, that

(18:41):
was pretty special. And it wasit was great scene Colton too. I
mean, he's a cute kid.I don't know how he's related to you,
but it was it was great seeinghim at the at the Swing Freak
Cure and then Georgia actually gave hima cape, so it was really nice.
They're actually doing a little they're goingto honor Colton the American Cancer Society.

(19:06):
I don't know, Julie has somemore specifics. I'll announce it next
week. But my cousin's little boy, of course, battled cancer. He
was three years old when he wasdiagnosed and lost a rib and lost the
lung and chemo radiation and just he'scancer free right now. He's got you

(19:26):
scans and everything that he's gone through. But the thing is is that you
know, that's what it's all about. That's what life's all about, as
far as stepping up and doing somethings that make you feel good because it's
not necessary. I don't care howmuch money you have in the world.
You know, Nico and I bothknow we have people that have hundreds of
thousands and millions of dollars with us. That doesn't necessarily mean that you're going

(19:51):
to be happy. Yeah, Ican agree more with you. I mean,
it's about relationships. I think it'snot about family, friends and what
you develop over the years. It'snot all about money. Money can definitely
buy some happiness. I do agreewith that, but at the same time,
it's about what you do with yourtime on this earth and how you
treat people. I think that's that'shuge. So let's talk a little bit

(20:15):
about I know that you've had abusy week and I flew out yesterday.
I can't even remember what date isanymore. And you know, you want
to kind of summarize your phone callsand what's happening on a day to day
basis, as far as you knowwhat we're hearing and seeing from perspective or

(20:36):
existing clients. Yeah, you know, I wanted to actually give you a
compliment. Dave had a couple ofreview appointments with a couple longer term clients
that came into the office. AndI was talking to one gentleman on Thursday
and he came in and he wastalking about are you saving some money up

(20:57):
for trips and stuff like that thatand he's in his later sixties and I
was talking to him and I said, you know so and so, and
you've got a good amount of moneyhere that's built up. You're only taking
four percent off the portfolio. Youdon't need to worry about using your monthly
distribution to start saving for trips.I think you should. You could take

(21:17):
one off distributions maybe once a yearor twice a year and start enjoying yourself.
I mean, you set them upin a way where they've got guarantees
in the portfolio, they've got growthcomponents, and they've got income coming in,
so they're in a spot where itput them in a nice spot so
that they can continue to do whatthey want to do in retirement and the
money's going to be there. Thisis something that doesn't have a legacy.

(21:41):
They don't have any children, sothey've got X amount of dollars and I
mean I told them, I said, you got to start spending your money.
A lot of folks see those retirementaccounts as they just need to keep
saving. They need to save intoit, save into it. Then you
need to flip a switch. Anda lot of those folks I had the
conversation this week that you need tostart spending your money. I mean,
yes, times are tough and themarket's down if you look at the last

(22:06):
two years. But we set theportfolio up so that there's cash available.
You don't have to sell out ofanything to get you distributions. Yes,
that cash is getting five percent.If you're not going to use it,
we'll keep it in the account.But no, it's just kind of having
that conversation that hey, you're good. You can start spending your money,
enjoy yourself, and enjoy your retirement. I think there's a there's a psychological

(22:29):
thing there. You can't change thestripes of the tiger when they're in their
sixties and seventies. If you werea conservative saver and you like to,
you know, basically pinch your penniesa little bit and look for some discounts
and some values, you're not goingto change that as you get older.
But the thing is is that I'ma firm believer right now, firm believer

(22:52):
right now that in your lifetime,if you've accumulated a lot of money,
and you've been fortunate, and Godhas blessed you, and your family is
healthy and strong, now is thetime for you to reward them and gift.
You know, we're getting towards theend of the year, which is
hard to believe, Nico, Yeah, you know, it's crazy. I

(23:15):
mean, we're going to blink oureyes and we're going to be in November.
But the bottom line gets down tois that gifting assets to your children
while you're alive. I don't knowhow many people have come in and said
to them, you know, Idon't want to give the money to my
kids when i'm you know, throughthe pearly gates. I want to give
the money to them today and inmy lifetime so I can see them appreciate
it. I can see them withthe smiles on their face. I can

(23:37):
see my kids going to the collegethat they always wanted to go to.
I can see my grandchildren and mychildren buy the house that they've always wanted
but they didn't have enough for thedown payment. Now is the time to
do it, because you know what, the kids aren't going to care about
the money when you pass away.What they're going to care about. What
they're going to think most about isthe relationship and the events that they had

(24:00):
in the life, in their lifetimewith their parents. Right exactly, And
Dave, we're running up on abreak here. We'll get back into uh
like gifting during your lifetime if youwant to right after this. W g
Y All right, we are back. I'm here with Nico do myths Sortified

(24:48):
financial Planner PPC. What is thePPC stand for Eco Professional plan Consultant.
So that's for folks with small businessesopening up simple IRA accounts, step accounts
for one case specializes in plan management. Did I hear Julie back there?

(25:10):
I thought I heard her, Yes, Julius here she just wrote down.
I wanted to mention that thing aboutColton. Georgia is our contact at the
American Cancer Society in the Latham.All this money, of course stays that
we just donated to the American CancerSociety, and I think it's important for
our listeners. The people that participatedand sent in money. The money is,

(25:34):
they're targeting the money to their GoldTogether Childhood Cancer Research Fund, So
that's where it's going. It's goingto the Gold Together Childhood Cancer Research Fund.
And Colton is going to be recognizedwhen they, I guess either at

(25:56):
a dinner or some kind of apresentation they're going to they're going to do
for his unbelievable fight with his can'tcancer diagnosis stuff. They're just great people,
you know. I know that youknow this, Nico, but George
has been almost that. I believeevery single event that we've had the Swing

(26:18):
for the Cure, a very compassionateand loving woman has really kind of taken
a liking to Colton and his parents. So we can't thank him enough.
And when I get more information,if there's an event, or if there's
a dinner, or if there's somekind of a presentation, I'll let our
listeners know too, because, asI said, thank you again for participating

(26:41):
in incenting in checks. Yeah,I mean George was a great woman.
I was shocked you remembered my nameat the golf event. What'd you call
you? The mechanic fook kid?And I remember first meeting her when we
went down there and present them withthe check. That was probably right when

(27:03):
I joined the firm. That wasprobably the first year there would be six
six seven years ago, so butyeah, it was great. We got
to walk through the facility that theyhad down there, and she showed us
the activities that they do and everythingeverything like that and the house and yeah,
she's a great woman and she comesto the event each year and she
she talks in front of everybody,and it was awesome. When she she

(27:25):
gave Colton that that cape this year, I thought it was he looked like
Superman up there and he is.Yep, I mean he had a long,
long bit. That was great.I actually forgot about that. You're
absolutely right, Yeah, so,but but yeah, we so we were.
We raised fourteen five hundred. Yep. It was the total contribution that
was given to the American Campus Society. One other thing I wanted to mention

(27:49):
too before we get into the heartof the show. What you want to
talk about? You know, Niko, we have a lot of clients that
are moving to Florida or have movedto Florida already. And one of the
things that I really want to discussis should you buy or should you rent?

(28:11):
And the reason why I say thatis that I'm finding out some numbers
and some hard facts here by myson transitioning to become a legal residence of
resident of the state of Florida.And I'll just go on. Everybody knows
that the insurance costs down here hasgoing up dramatically because of the devastation that

(28:36):
they've had with tornadoes, etc.Everybody knows that taxes are going up,
and you know there's no state incometax. The insurance on your homes are
going up dramatically down here also.But one of the things that I was
shocked, and I think that you'llbe shocked by this too. David needs
car insurance, right, Yeah,And I think you have a thirty day

(29:00):
grace period from the time that yourelocate from New York to Florida in order
to get the plates and the insurancedown here. So he is in the
process of doing that right now aswe speak. And they gave him a
quote the other day for car insurancebecause my cousin I'm having dinner with tonight

(29:22):
down here, gave me the contactof the state farm insurance. State Farm
wouldn't even write him. State FarmInsurance wouldn't even write him. And he's
got a clean record. He hasno marks, no speeding tickets, no
accidents at all. A six monthpolicy, six month policy for fifty thousand

(29:47):
dollars worth of protection, which isnothing. How much do you think it
is? Fourteen dollars twenty nine hundreddollars months. Oh my god, he's
going to be paying five hundred dollarsa month for car insurance in Florida.

(30:10):
You could get a scooter or abicycle, right I'll tell him that money.
Five hundred dollars a month for carinsurance. So when people say,
I remember a gentleman called in andI had mentioned because you know Mike and
Diane, they live in the FortMyers area. Yeah, they had a

(30:30):
discussion with us the last time thatthey were in. They're actually leaving Florida
and coming back to New York State. But the thing is is that before
you buy, everybody's dancing in thestreet, I'm going to Florida, blah
blah blah blah blah. I thinkit might be geographically also, I'm not

(30:51):
too sure, but you better checkwith a perspective or your current insurance agent
what your insurance coverages are going tocost and what they're going to cover.
Because to say that my son isin the camp of sticker shock right now
is an understatement. Five hundred dollarsa month just for his car insurance.

(31:11):
Yeah, you see people all thetime they go, yeah, I'm gonna
go live in Florida because there's nostate income tax down there. How about
the other cost of living? Howabout the insurance that you're going to pay.
But no, I've been I've beenin the camp of renting, Dave.
I've been telling a lot of folks, like you say, just just
get a key, get a key, get a key, see how it
feels, and then determine whether youwant to go down there or not.

(31:32):
A lot of folks been saying thatit's overpopulated down there now, so there's
too many people. And I thinkthat's what happened with Mike and Diane.
And they're going back to I thinkthe East they want to go to the
East Coast now. Yeah, butwhat they're gonna do is they're gonna they're
gonna go back over to the Eastside, and they're also going to buy
another house or some kind of acondo or something back in upstate. He

(31:53):
doesn't want to live down there.You'r around anymore. And you know,
the thing is is that sometimes thisyellow brick. I mean a lot of
times when people go to Florida,they go down there and they spend I
don't know, three or four weeksand you know it was eighty eighty five
and sunny every day. Well staythere, get a key rent for twelve
months and see if it's this utopia, you know, this panacea that you're

(32:15):
hoping for it because there's a lotof what we call halfbacks. Halfbacks are
people that moved to Florida that wenthalfway back. They went to the Carolinas,
they went to Tennessee, they wentto you know, alternative states.
Rather than Florida. I just gota phone call before I got on the
airplane on Friday, and I cliedto mine. They called me and said,

(32:37):
hey, I moved. You moved. Where are you living? I
go, Where'd you go to?Another part of the Capitol District? You
up to Lake George? Where'd yougo? He goes, No, I
moved to Davison, North Carolina.Wow. Yeah, So he left and
he went to the Carolinas, andI loves it down there. It's Norman

(32:58):
Lake. I guess he's won aplace right on the lake down there in
North Carolina. So just be youknow, I guess my word of advice
is this, Before you pull thetrigger and commit yourself and make a move,
make sure I know that you knowyou worry about can I afford the
house? Is the house going tofit into my budget? As far as

(33:22):
the expense of the mortgage, well, make sure you look into the insurances
that you're going to have to havein order to protect yourself. Half backs.
I like the half backs, Dave. That's a that's the first time
I heard you use that. Ialways thought Damian Tomlinson, uh, Brian
Robinson, but no, So yeah, North Carolina I mean, that's a

(33:45):
that's a great spot. I've gotsome folks that moved to South Carolina and
then Alabama. We've got some inTennessee. We had a gentleman calling from
was it Wisconsin the other day,So we're starting to have clients all around
the country. At this point.It's important, like we were talking about,
get a key, investigate, researchwhat the costs are going to be

(34:06):
surrounding your new environment, and atthe end of the day, you need
to make sure you have the incomeand resources to afford. So yeah,
yeah, all right, all right, I know that we're getting close to
another break here. But one othertopic that I like to get into,
of course, is you know,we live in a crazy world, and

(34:27):
you know, we all know thatit's dangerous, and we all know that.
You know, I'm a child thatwent through nine to eleven. I
used to work for Morgan Stanley DeanWitter. We used to be in Tower
one and Tower two. Used tostay right there at the vista between the
towers. Windows of the world.We used to do up there for meetings
all the time and dinners. So, by the grace of God, I

(34:47):
was not, you know, evenclose to that facility when there was the
terrorist attack. But you know,I think what this past week and what
is going on the world right now, is that you really have to take
a step back and look at thebig picture where you stand with your finances,

(35:08):
how your assets are allocated. Youknow, there's been you know,
you know that I get burns everyweek and I read it from top to
bottom. So you know, thething is is that banks came in this
week, you know XLF. Youknow, the financials have not done that
well because of the worry, butbank stocks came in with earnings, with

(35:29):
strong earnings this week. But alittle bit of the heat of advice.
When you go through markets like this, you want to make sure that you
have strong balance sheet, strong earnings, diversification quality will always you know,
serve you well. And don't gettoo allocated to anyone sector or anyone particular

(35:49):
stock because at a blink of aneye you can really get hurt pretty bad.
Yeah. In the past, Imean, I've been a big believer
of passive investment, but I thinkunder certain time times like now, like
last year when COVID came, wehad to be a little more tactical,
and you do need to be alittle bit more tactical with your portfolio,
especially if you're sitting in some ofthose older bond funds. I've noticed that

(36:13):
their interest payments aren't aren't anywhere nearwhere some of these newer ones are and
some of the corporates that are whatthey're offering right now. So you need
to check your portfolio to do aquick check, make sure you're invested in
the appropriate allocation for your for yourrisk tolerance, who you are as an
investor, and what you can withstandin different market conditions. And I would

(36:36):
say, I would say over thelast couple of years, we've been a
lot more active than we have inthe past. So yes, you're in
the same camp. Yes, Iagree one thousand percent with you, not
one hundred thousand percent. Yeah,now listen, before we go to break,
I just want to let you knowone thing, Niko. What was
the temperature this morning when you gotup? The temperature was My toes were

(36:59):
purple. But I just want letyou know right now, in Tampa's seventy
six degrees and it's going to goup to a high today of I believe
eighty one or eighty three. SoI just wanted to rub it in a
little bit. So we're going totake a quick bake break. Bake quick
bake bake break. We're going tobake, fake a break, and you

(37:21):
know, we'll be right back.This is a Dave Kopek when Nicholas Dumas.
We're going to talk a little bitabout protection products this morning for a
couple of reasons. First and foremost, some of my family events that have
happened. And make sure that youhave your ducks in a row for you
future state retirees. I know wesay this all the time, all the

(37:42):
time. Until you get to thefinal destination, your pension is at risk,
so make sure you got more thanadequate amounts of insurance protection. So
if your spouse has to say,you know, my husband or my wife
didn't make it to the finish line, they the right type of planning because
I was covered. You know,We've had numerous conversations about this recently,

(38:05):
Nico. Yeah, I had awoman whose husband was on his deathbed.
He was in the hospital, andthey retired him from the state when he
was in the hospital so that shecould receive a portion of his pension.
So right, Yeah, we gothrough us all the time. It's your
biggest liability in your working years isif you don't make it to that retirement
date, you might not see thatpension. So give us a call numbers

(38:28):
five, eight, five eight,zero nine one nine at the office if
you want to sit down rever yearsituation, review any holes in your ship,
and we'll make sure to go throughthat. Everyone will be back right
after this the eighty six percenters.Do you know that eighty six percent of
the population has no defined benefit pensionplan. For most of us, we
have to take our life savings andcreate a paycheck for the rest of our

(38:49):
lives in retirement. What is yourplan for retirement income distribution? How you
manage your assets during the most criticalyears of your lifetime. Nobel Prize winning
economist William Sharp has called retirement incomedistribution the nastiest, hardest problem in finance.
He points out that investment, uncertainty, and mortality can derail the most
careful laid out retirement income plan.Call our offices today to start the process

(39:14):
of building a retirement income distribution plan. After forty one years of being in
the financial services business, you needto start taking action to start building your
own personal retirement income Distribution Plan.How do you do that? To take
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one eight five eight zero one nineone nine or RPG retire on the web.

(39:36):
Don't procrastinate, motivate to start buildingyour retirement income distribution plan five one
eight five eight zero one nine onenine. If you have any questions,
please call in now at one eighthundred eight two five fifty nine forty nine.
That's one eight hundred talk WGY,one eight hundred talk WGY. We
are live in studio to answer yourquestions. Do you remember September my buddy's

(40:21):
birthday twenty first night of September?Is it? We always play this song
on his on his birthday? Butbut yeah, was this earth Winding Fire?
Dave? Absolutely? Is that whatyou're queued up? Absolutely? I'm
getting in the I'm a singing andI'm a dancing. I'm a singing and

(40:44):
I'm a dancing buddy of mine,buddy mine, just text me, he
says, I'm listening to your showfrom the villages in Florida. We're going
to make a possible trip over toTampa. I'm gonna bolt the doors and
put a cage over my house rightnow. I'll say his first name,
Tommy, I won't mention his lastname. But he's been a great friend

(41:05):
of mine for years, and he'sliving the good life right now, living
the good life. And God blessthem, God bless them, you know,
which is good. But he saysthat he's possibly going to make a
trip over to Tampa looking for aproperty. I would say, Tommy,
be careful because the I'm not toosure if it's geographic or whatever it is.

(41:29):
But my son is dealing with unbelievablyhigh insurance costs. But that's no
big deal to Tommy, because youknow, he was left to trust fund,
so he's one of those trust fundbabies. I gotta I gotta zap
him a little bit, I wondered, I wonder why the insurance is so
high down there for the cars.Is it the car jackie and car theft?

(41:51):
That's what I was told. That'swhat I was told. I would
assume it's also because they don't haveto do inspections on their vehicles down there.
Right there's a lot of smashing grabsdown here. There's a lot of
cars that are being stolen. That'swhat was discussed with me when I was
asking why the hot you know,the premium is so hi. It's the
car that he has too. He'sgot that two door coup with the big
engine and blah blah blah, allthat hot. You know, it's probably

(42:15):
on the top of the list ofa car that they would want. Yeah.
So, you know, the thingis is that I can't overemphasize enough.
You know, you know, Floridais beautiful. I love Florida,
and my wife and I spent alot of time down here. We've got
tons of clients down here, andI spent a lot of time meeting with
clients. But as I said,like anything else, things change. Florida's

(42:37):
changing. There's an unbelievable influx ofpeople. Our waitress last night at dinner
told us that rents have more thandoubled in the last three years. She
was fortunate that she had a leasethat was locked in for three years.
It just renewed and they doubled herrent, doubled her rent in the building

(43:00):
that she was in. So thething is is that you know, just
dot your eyes and cross your t'sand make sure you understand exactly what you're
moving into and what the cost ofliving is going to be. You go,
what is it going to cost meto live down there? Yeah,
exactly, you got to look intoall those extra items that you probably didn't

(43:20):
think about. You need to makesure that you can afford it in the
new area. I mean even Imean New York State is expensive, yes,
and that's why people move out ofhere, but they don't think about
the baked in costs in other statesas well. I mean, if you
don't have state income tax, wherethose dollars can be made up, and
that might be sales tax on yourpurchases, so maybe your groceries are more

(43:42):
expensive. And the registration on thecars, registration on the cars, and
insurance on the vehicles. So youneed to think of these things, and
not a lot of folks do.I think it's just very simple as moving
and it's going to be less expensive. But you did. You mentioned something
earlier. I want to go backto it. As far as the rates,
you said the ten year was thatfour to six. I wanted to

(44:02):
get back to the one years atabout five to four right now? Is
that? What is that what it'sat right now? Yeah? So the
one year Treasury bill is that fivepoint four. You can look at the
two years at five, the threeyears at four point eight, five years
at four point six. So yousee it's I mean, we've got an
inverted yield curve right now. Sothe longer you go out, the lower

(44:23):
you're going to get. And whyis that Because the bond market is expecting
a decrease in rates over that timeframe. So right, so you need to
Yeah, And the thing is what'sgreat about that too with the Treasury is
that I don't know a lot ofpeople I know. I've said this numerous
times. The Treasury nco. Ofcourse, if you buy it in New

(44:45):
York State, it's not subject tostate income tax, where a CD and
a money market account would be subjectto state income tax and a non qualified
account. So if you can putyourself in a position to save a few
bucks more money working in your favorbecause you know it's beneficial for you.

(45:06):
I mean, if I can getfive to four in a Treasury, this
is myself speaking. You know,this is not a recommendation. This is
just Dave Kopek. I can getfive to four and a treasure or five
to four in a CD. I'mbuying the Treasury because I'm getting more money
in my pocket because there's less taxliability and you're getting more liquidity. I
would say the CDs, you're goingto face your under charges if you had

(45:29):
to get out of them. Imean, we've seen we've seen t Bill's
rally too. They've appreciated in priceunbelieved. Yeah, I know. This
week, it's been a very goodweek. You know, Tom, just
text me about the villages. Iam a major advocate of the villages.
We've got a lot of clients inthe villages. I've spent a lot of
time there. Uh, for acouple of reasons. I like it.

(45:52):
It's self contained. Uh, it'simmaculate, it's well maintained, it's beautiful.
It has every thing that you couldpossibly want for entertainment, activities,
dining, you know, the wholelaundry list. We've got a good friend
of ours, Joe, who's veryinvolved down there. He's involved in working

(46:13):
with the church as far as doingcooking, doing meals. So he's really
kind of found this niche. Heactually couldn't wait to get back to the
villages. He left usually left inNovember. He left at the early part
of October because he's involved so muchin so many activities there. And that's
another thing, and I think that'sa good point by time would just text
me, is that when you goto the beach, you better like the

(46:37):
beach. The beach ought to beyour utopia because when you go and you're
on the you know, the shores. I know, I love the beach
and Julie loves the beach, butthe villages afford you so much more as
far as other activities and things todo on a daily, weekly basis.
Yeah, you know, I metwith Marty last week and he was saying

(47:00):
that's the issue with up here.He lives in a you know where he
lives up here, in the apartmentcomplexes. You said, there's not as
much of a community feel, sothere's not like there's no area to hang
out with the other people and uhin those apartment complexes. But down when
he's down in Florida, I meanhe's got the golf cart and everything like
that. He's able to socialize andget out and really, uh really live

(47:23):
his life. So yeah, Ithink that's what. You know, it's
important that you find a passion somethingto do. I know, the thing
that's huge all over the country now, even in the Capitol District region is
pickleball. I mean it's just it'staken off like a forest fire. I
mean, the thing is just unbelievable. No matter where you go, they're

(47:45):
always saying that they don't have enoughpickle Do you play pickleball? No,
you know, not either. ButI think I'm gonna get into it because
you know, that's up to myI think pickleball is up to my speed.
Jim's tried. Jim's tried to getme out on the court, but
I'm not going to go play asport he's been playing for five years.
It doesn't seem fair to me.Yeah, So if you're in a situation

(48:12):
they have high anxiety, if you'rethinking about, you know, retiring.
And I want to overemphasize one thingbecause I know that people think that we're
insurance salesman. We sell insurance,but that's not what we do. We
basically build what we consider it tobe a portfolio that protects you and your
family. For those that want tojust go by the seat of their pants,

(48:38):
right fly without a parachue, goright ahead. But for people that
want that protection to sleep at nightand know I'm going to overemphasize this.
Your pension with the state is notguaranteed until you get to the final destination,
end of story. So term insuranceis cheap. It's pennies on the

(49:01):
dollar, especially if you buy ityoung, your forties and fifties, even
early sixties. You can still geta lot of velocity. You're going to
a multiplier of three whatever your grosswages are with the state. So if
you're making one hundred grand, yougot a pension benefit of fifty thousand dollars,

(49:21):
you're gonna get three hundred thousand dollars. That's pretty three hundred thousand.
You're that's pretty tough. You know, you're going to have to make about
sixteen seventeen percent on that money inorder to get the pension benefit. For
you to get maybe another five hundredthousand dollars a term insurance, and then
when you retire, you can eitherterminate it or keep it if it's within
your budget. I'm telling you,folks, it makes all the sense in

(49:43):
the world because it's basically what Nikoand I call pillow planning. You put
your hat on the pillow and youknow that your family's taken care of.
Yeah, I can agree with themmore. I mean, it's the cheapest
form of insurance because it typically it'sgoing to expire unless you renew it.
At that point, it's going tobe more expensive because you're older. You
can get a ten your term insurancepolicy for your last ten years on the
job, or even if you've gotthree years left and you think, oh,

(50:06):
I'm gonna be fine, I'm gonnamake it. I just I won't
go skydiving over the next couple ofyears. No, you should buy some
sort of term insurance because I mean, like we were talking earlier on in
the show, you don't know what'sgoing to happen. You don't know what's
coming around the corner. You needto make sure you're protected. You need
to make sure your spouse is protected. So, uh yeah, fifty thousand
dollars, I mean, three hundredthousand dollars isn't gonna that's not gonna last.
That's gonna go away. Also,for those folks who have reached that

(50:30):
retirement age and are looking at thepension options, we go through that all
the time as well, and we'vetalked to you about the different options that
are available to you and which onewe think makes the most sense for for
what you're trying to accomplish. Andthis isn't only true for state it's teachers,
it's people that work for municipalities.You know, any any of the

(50:52):
New York State retirement system programs.You have to be alive to get your
pension right. It's not like they'regoing to give your pension to your spouse,
So beware. I know that youknow I've talked about a lot of
negative things today. Well, whenyou go through a week like I went
through, when you've lost two lovedones one you know, a doctor at

(51:14):
thirty nine years of age, itgoes to take a nap and doesn't get
up and passes away. Horrible things. Horrible things happen to good people.
Don't do the type of planning whereit will never happen to me, because
it could possibly happen to you.And you want to make sure that you've

(51:36):
dotted your eyes and crossed your teeth. And we got to take a break
here, we'll be back on theother side of the hour. Welcome to
the Retirement Planning Show with host DaveKopak, in the financial services business for
over thirty five years, The RetirementPlanning Group LC is a registered investment advisor.

(52:00):
David M. Kopak is also aregistered representative of Perce Kaplain Sterling Investments
Incorporated PKS in their separate capacities.A registered representative of PKS, David M.
Coopek may recommend the implementation of securitiesthrough pks instead of Retirement Planning Group
LLC, Perce Captain Sterling Investments andRetirement Planning Group LC are not affiliated companies.

(52:22):
Now it's time for the Retirement PlanningShow on w g Y. She
said, I've seen you in herebefore. I said, I've been here
in time or two and hello,Hello, Hello, Yes, this is

(52:52):
what you used to listen to.I love country back when you're from a
country boy, your country boy.Hey, I'm a country boy. I
got I got my boots on inthe studio. Today's so I got myselphoere
f one fifty baby. Hey,No, I thought you just wanted to
be me. I guys got theymind looked at me the other day it

(53:13):
goes, what the hell you doingthat pickup truck? Well, I gotta
say I felt more safe than thatwhen we went to oneana the other than
I did in your old car.Yeah, you don't like when the transmission
wasn't going forward any You know,I hate buying new cars. Hate it.

(53:34):
I'd rather, you know, goto the dentist than go sit down
with a guy that sells cars.I hate to say that, because I
know everybody needs to make a living, but I hate buying a car.
So when I had to get ridof my green machine, my twenty and
thirteen Florid Explorer that had two hundredand fifty some thousand miles at it,
it was like I was losing mybest friend. You know, that sucker

(53:55):
was with me for years. SoI was like pulling an old rotten tooth
out of your mouth. All right, that's exactly right, exactly right.
So but I got my f onefifty baby, I'm ready to rock and
roll, and uh, you knowwhat, Uh, I love the truck,
but to be honest with you,it really has has a problem.
My truck has a problem. What'sthe problem. But every other day it

(54:20):
kind of just veers into a gasstation. Mine's got that same problem.
I think mine's a little worse.And that's a's one hundred dollars bill to
shill that thing, right now?Yeah, yeah, wrong, but everyone,
we're the Retirement Planning Group. Ijust want to put that out there.
I know we're kind of talking backand forth, but we are a

(54:42):
financial advisor out of Upstate New York. We've got a lot of clients all
over there over the I wanted tosay globe, we don't have any international
clients yet, but no, wehave none international all over the United States.
But if you want to call ouroffice, numbers five eight, five
eight zero one nine. Again,welcome to the show for just tuning in.

(55:02):
My name is Nicholas Dumas, certifiedFinancial Planner, and then Dave Kopek,
president of the Retirement Planning Group,is on the line with me from
Sunny Florida. The sun was stilldown when I was out my way in
this morning. It's the days orshorter where I'm staying right now. I'm
staying in downtown Tampa and the riverWalk, which is spectacular. I'm looking

(55:25):
out my window right now and there'sboats that are size of houses down here
that are just you know, Ican't even imagine what they I know what
boats go for because I have aboat on Lake George. I mean,
these things are a million, multimilliondollar boats. And the thing is Nico
that I'm always flabbergasted by is thatthere is so much money in this world.

(55:49):
There's so much money in this world, so many people that have been
fortunate and blessed with wealth, andto me, it's just in comprehensible.
Sometimes you go buy these houses downdown here, especially on the east side,
and you go down and you knowPalm Beach and on the inner coastal
that they got boats that are multimulti million dollar boats, and then on

(56:13):
the water you got multi multi multimilliondollar houses. And the wealth down here
is just outside the box. Yeah, yeah, and uh, he's got
a lot of clients down there andthey enjoy Florida. But yeah, there's
a lot of way. I toldDavid. They told David, if they
don't have a big boat, youdon't ask him out, don't. Is

(56:35):
that what he's down there for?Spouse? He's going to work in property
management, I know that much.But the bottom line gets out what he
does with his dating is up tohim. So but I said, you
know, get one with a boat, because daddy likes to skill for boat

(56:55):
rides. That's a good one mentality, that's good mindset we have. But
Anyways, let's talk about finance,Davey, So I wanted to talk about
because again I want to be alittle more topic specific on this show.
I want to talk about some ofthose multi years guaranteed contracts. Yeah,

(57:15):
I want to talk about T billsagain, T bonds, so treasuries,
and then some of those guarantees outthere in this world. Well, why
don't you go over what the ny g A is so our listening audience
know what, because we did alot of business in that this week for
people that are looking for guarantees.So why don't you let people know what
the n y GA and why it'sso attractive under these current market conditions and

(57:38):
some of the tax benefits that areassociated with it. Yeah, of course,
I mean some advisors might not eventalk about these products, but I
think they make a lot of senseright now for most of the folks that
I'm meeting with. These So it'sa multi year guaranteed annuity, So multi
year guaranteed annuity contract, Dave Liscall them gicks guaranteeing the insurance contracts and

(58:02):
they go the ones that we're offering. They spread from three to seven years,
and the raids are very attractive,right now, all three So we
do the three year, the fiveyear, and the seven years. Typically
what we look at they're all abovefive percent. So the three years,
the three years, they're all abovefive. Yeah, so the three years

(58:22):
at five and then the five andseven are five point oh five. So
again they're all at five percent.But if you look at the equivalent treasury
yields right now, the three yearsat four point eight, the five years
at four point six, So you'regetting a little more bang for your buck.
And the nice thing about these contractsis that you could take income off

(58:44):
of them. So not only areyou going to get the five percent for
the five years if you do afive year contract, but you could take
that interest each year, whether youwant it monthly, quarterly, yearly installments.
You could take the interest off thatcontract and at the end of it
your principle back. So for alot of folks, if they're taking five
percent off their portfolio, I mean, this makes a lot of sense.

(59:06):
I mean I wouldn't lack the wholefour oh one k or ira or whatever
maybe non qualified dollars. I wouldn'tput it all into these multi year contracts
because you do liquidity. You needflexibility, but taking a portion and guaranteeing
that five percent, I mean that'sgoing to help you solve your income that
you're you're taking off the portfolio withwith very minimum risk. I think,

(59:27):
I think one of the things thatyou said is one hundred percent true,
Nico. You know, eliminating therisk. You know, people that are
in the red zone that we keepon talking about, people that can't afford
to go down thirty or forty percentbecause there's a market correction, there's an
event or a black swan. Youknow, you really have to be precarious

(59:47):
as far as you know what whatare the ramifications sometimes of the investments that
not precarious, precautious precaution of theinvestments that you're making. What I like
about these are two things. Notonly are they available for non qualified money

(01:00:09):
money that you might have, andCDs or what I call lazy money CDs
money market accounts. We talk aboutthis all the time. If I can
give you five percent guaranteed without anytax liability, you control the tax liability,
not the interest by the ten ninetynine that's being sent to you by
the financial institution. Please explain tome what's wrong with that, because I

(01:00:31):
don't understand that because you get thesame benefits that you get you would get
with a roth IRA or a traditionalIRA or four to one K tax deferred
growth without any tax consequence. Exactly, if you don't take the income off
of it, you just let helpthe interest compound on top of itself,
and you're deferring that tax liability toa later date. So I think these

(01:00:54):
contracts make a lot of sense.Another big talking point was the fact that
they're insured up to five hundred thousanddollars and the individual per individual, I
mean you're talking at banks, you'reonly insured two hundred and fifty thousand,
So these how did you get intothat a little bit? Because I think
that's important for people to understand,because there might be some new listeners today

(01:01:16):
or people that don't understand why wesay this FDIC is two hundred and fifty
thousand dollars and NYGA is always backedby the full faith and credit of the
insurance company that's offering the product,but also New York State, the New
York State Insurance Fund guarantees it upto five hundred thousand dollars. Yeah,

(01:01:37):
which was a huge turning point fora conversation I had with a couple of
clients on I think it was Wednesday. They came in and I started talking
about these products, and I letthem know that the state backs it up
up to five hundred thousand dollars,and they said, all right, we're
good to go because it's solved exactlywhat they were looking for. How long

(01:02:00):
did they tie the money up forthe five hundred thousand? We're actually we're
looking at seven years for these folksthey think. I mean, rates are
the highest they've been in twenty twoyears. Yep. So again, I
mean with expectations of rates coming downover the next three four years here,
I mean, if you're getting fiveand these rates come down, I mean,
I don't know what's going to happentomorrow. If rates do come down,

(01:02:22):
then you're you're sitting pretty getting fivepercent interest in a world where or
maybe it's only interesting your crystal ballis busted. I mean, I'm not
going to tell you what's going tohappen tomorrow, because if I did,
I would, Yeah, I don'twant to know what's going to happen tomorrow.
If I knew what was going tohappen last week. I wouldn't want
to, you know, get upthe next day. You know, it's

(01:02:43):
just been one of those weeks.But the bottom line gets down to is
that I agree one hundred percent ofwhat you're saying, Nico. You know,
and I've said this, and you'vesaid it on the radio and also
face to face meetings. We're ata very opportune time right now, I
think, not only in the bondmarket, but with guaranteed rates. Should
you put one hundred percent of yourmoney in? Absolutely positively not. Should

(01:03:04):
you take advantage of these rates whichwe haven't seen in twenty plus years.
Absolutely yes, Yeah. And itlooks like we're coming up on our first
break here, folks. This isa call in show. If you want
to call in and talk to uson the other side of this break.
Numbers one eight hundred and eight twofive, five nine four nine. Again
that's eight, two, five,five, nine four nine. You are
first caller today. Everyone, we'regonna take a break. We'll be back

(01:03:27):
right after this. The eighty sixpercenters, do you know that eighty six
percent of the population has no definedbenefit pension plan. For most of us,
we have to take our life savingsand create a paycheck for the rest
of our lives in retirement. Whatis your plan for retirement income distribution?
How you manage your assets during themost critical years of your lifetime. Nobel
Prize winning economist William Sharp has calledretirement income distribution the nastiest, hardest problem

(01:03:52):
in finance. He points out thatinvestment, uncertainty and mortality can derail the
most careful laid out retirement income plan. Call our offices today to start the
process of building your retirement income distributionplan. After forty one years of being
in the financial services business, youneed to start taking action to start building
your own personal retirement income distribution plan. How do you do that? To

(01:04:15):
take action? Five one eight fiveeight zero one nine one nine. That's
five one eight five eight zero onenine one nine or RPG retire on the
web. Don't procrastinate, motivate tostart building your retirement income distribution plan five
one eight five eight zero one nineone nine. If you have any questions,
please call in now at one eighthundred eight two five fifty nine forty

(01:04:36):
nine. That's one eight hundred talkWGY, one eight hundred talk WGY.
We are live in studio to answeryour questions. Now skin content over in
the tetor nothing oc save scene matters. I'm gonna go put my boots on.

(01:05:01):
They're in the closet. When Ilook, weird was short sign and
cowboy boots. If I went tothe beach, you'd fit right in.
And I don't know if Julie wouldbe standing next to you, I'd be
on the other side of the beach. Cowboy boots and a bathing suit.

(01:05:21):
Here I come. But hey,you're not. You're not the only one.
I'm gonna be wearing mine next weekendin Georgia. I know you are.
I know you are. Good foryou again, blessed going down Wednesday.
So ye, all right. Youknow one of the things that we

(01:05:41):
were talking about is that are wein a you know, we get a
lot of research. Of course,we clear all of our business through fidelity,
and I'm always going on the emailsand the internet to see exactly you
know what they're Overall philosophy is asfar as you know where we stand today
and looking forward into the future.But you know, one of the numbers

(01:06:05):
that has been consistently sticking out tome and ECO is a you know,
the Dow is really you know,underperforming versus all the other indices for the
year. But if you look atthe S and P five hundred, right,
the S and P five hundred,you've had such a high concentration of

(01:06:26):
the magnificent seven that have made upthe net return to that portfolio. You
know, a lot of people talkabout, you know, where do we
stand as far as corporate profits andis the economy recovering? And you know
where do we stand? I mean, really, if you look at the
numbers so far, they've done extremelywell. But you want to recommend that

(01:06:47):
people look at, especially in retirements, that you want to be diversified.
And cash flow is king. It'sthe mother's milk of retirement planning cash flow.
But the other thing is too highquality diversified investments have fallen out of
favor. That usually means that they'recoming back in a short period of time.

(01:07:10):
And Dave Kopek, this is nobodyelse. My personal feeling is you
want to get into things when everybodyelse has stayed away from them. Yeah.
No, I mean that's kind ofthe Warren Buffett mentality. I mean
by low so high. But yeah, you talk about the magnificent seven.
I mean you've got Apple up whatforty five percent this year, Google's up
I think fifty fifty five percent,and then you got in Nvidia. Now

(01:07:33):
they're up about two hundred and twentypercent year to day. Yeah, that
stock is nosebleed pe ratio. Imean, I hate to say that,
but that's really not our clients.Our clients are not suitable because when that
thing corrects, and it does,it will correct. You know. It's
just a question of you know,do you have a long term time horizon

(01:07:54):
or do you need these assets forincome. Our clients hard work and savers,
the National grid people, the bimbobake freeze, the plumbers, the
electricians, the guys, most ofthem cannot afford a shock to their portfolio
of that magnitude. Yeah, yeah, I completely agree with you, Dave.
And like you were saying, themother's milk of retirement, it's it's

(01:08:16):
yield and interest and dividends. It's, uh, you want income in your
portfolio. And I mean I waslooking. I mean I tell people all
the time the doo. I meanyou look at the dow the beginning of
twenty and twenty two, it wasat thirty six. So on thirty six
now we're at about thirty four onthe Dow. So uh, clearly there's
there's room to hopefully get back wherewe were. And uh I've been I've

(01:08:41):
looked at some investments for folks whowanted to be a little bit more aggressive,
but again not with a large portionof their portfolio. There's leveraged indexes,
so leverage Dow indexes where you canget two times multiples on some of
these. So again that's a littlemore strategic and a little more calls for
act of management. But I agreewith you, I think the Dow's got

(01:09:02):
room to run. Well. Youknow, the thing is is that I
don't know what the net return hasto be for people. One of the
things NICA that we consistently talk aboutwith prospective clients and existing clients is that
you know, you have to havea whole different frame of mind in your
retirement than you did during your accumulationyears. I mean accumulation years. You're

(01:09:24):
going for the biggest return that youcan get. You know, if you
got twenty or thirty years in frontof you, you know, my my
recommendation if you can you know,absorb the shock to the markets and the
roller coaster ride. Probably most ofyour portfolio should be allocated into equity because
that's giving you the biggest bank foryour buck. That's not the case as
you get closer to the red zone. When you get into your retirement years.

(01:09:46):
You know you've worked hard, you'vebusted your tail. You know,
I'm down here in Florida, andyou know, you see people all the
time in their eighties and nineties,they look like they're in their sixties,
you know what I mean. Sothe thing is is that if you're going
to live a long life and you'vegot longevity and you've got a bright fuuture,
I know that you need growth,but you need growth with a safety

(01:10:06):
net. But you also need tobe able to have plenty of baseline income
cash flow to satisfy what you needfor quality of life. And there's different
ways. You know, everybody hastheir different way to make the sauce.
Our ingredients are entirely different, probablyfrom other financial advisors, simply because you
always gived based recommendations based off ofyour history, right, based off of

(01:10:30):
my experience and your experience. Sothe bottom line gets down to is that
we are an advocate for strong balancesheets, strong cash flow, you know,
making sure you understand the risk ofthe stock market and how you can
benefit from it and also get hurtby it. Yeah, exactly, And
I like what you said as faras parachutes. I mean, you definitely
want parachutes on your portfolio, andabsolutely there's different products that provide that.

(01:10:55):
And I know we've been talking aboutinsurance products andaranteed insurance contracts and multiere guaranteed
annuities, but there's also products thatyou can get involved with and inequities in
stocks with a protection piece to it. So there's there's buffered products that we
could talk to on the equity sidefor someone looking for a little bit more
safety. They can absorb the firstten percent downside or fifteen percent downside if

(01:11:20):
if an index decreases and there's acap on the upside. So there are
products that you can even get moreedge in your portfolio on the stock side,
if that's something you're looking to do. But that's all I want to
I want to interject one thing here. Well, you know I'm not sitting
across from me, and I apologizeif I interrupted you, but the you

(01:11:42):
know, when we talk about thenyga's Nico. Yeah, when we talk
about the nygas, we want tomake sure that we have the guarantees associated
with those, not only in nonqualified accounts, but also qualified I raise.
Yeah, the NYGA though it's aninnuity product that grows on a tax
deferred basis, I mean, you'regetting kind of a double band aid on

(01:12:06):
the portfolio by having that. Butit's still still a prudent investment for people
that are looking for safety and guaranteesbecause even though it is issued by an
insurance company, that guaranteed is alsoavailable inside qualified accounts such as a traditional

(01:12:28):
IRA. That means that either thethree or the five or the seven is
going to act exactly like you wouldget with a CD. Money grows when
it matures, take your money andrun, renew it, do whatever you
want to do with it. Butit's a guarantee whether it's a qualified or
a non qualified account exactly, Imean the tax status of it. You
can also do it with trust dollarstoo, So if you have some dollars

(01:12:51):
in a trust, you could purchasea multi year contract with trust dollars and
let's say you do a five yearmulti year, So you do a five
year you put the money into thetrust year one. Not only is it
protected after those five years if it'san irrevocable trust, but also you're getting
that guaranteed five percent over that timeframeand hopefully allowing that trust to grow,

(01:13:14):
or you're taking the income off itif it's an income trust at that point.
So, right, you can dothis with a lot of different tax
qualified dollars. So and I thinkit's a great environment to do it right
now, right. And the thingis too, is that you know a
lot of people are limited in whatthey can do as far as their contributions.
With four to one k's iras,there's income limits on it as far

(01:13:36):
as the amount of contributions. Ifyou have a windfall, or if you
have an inheritance, or if youhave a death benefit, or if you
have extra money that you make you'rea ten ninety nine employee. These are
the types of investments that would basicallybe suitable for people that are looking for
safety. They're looking for tax deferredgrowth, looking for possibility turning the money

(01:13:58):
into an income stream. Everybody wantsguaranteed income streams. Seven out of ten,
seven out of ten people say Iwant guarantees that I want baseline income,
and then when they go to thefinancial advisor and they sit down,
most of them don't do it.I'm perplexed by it. I'm always scratching
my head. But here's the othercaveat too, is that a lot of

(01:14:19):
financial advisors don't offer these products becausethey quote unquote give a marketing piece that
they're fiduciaries. They have no relationshipwith insurance companies, so they don't offer
them because they're not licensed to sellthem. We are licensed to sell them
because we're open architecture. Even thoughwe are an RIA platform, we also

(01:14:41):
have an affiliation with PKS which islocal well here in the Capitol District region
with our BD affiliation, which affordsus to have alternative products that wouldn't necessarily
be available if you were just strictlyan RIA. Now, even if you
don't want to talk to if youdon't want to talk about something as a
client coming in to see, Imean, it's our job to bring it
to the forefront and talk to youabout what we think is in your best

(01:15:04):
interest acting in a fiduciary capacity.So even if if you don't want to
talk about it, and you zoneus out. We're going to bring it
to the table because that's what wethink is the best for your situation.
And I even I had a womancome in this week and we were talking
about her portfolios and what she wantedto take off of them eventually, and
I said, you know, youdon't need a lot of risk. Why

(01:15:25):
are you so allocated to this indexand this and that? And she said,
you know, I want the marketto grow my money. And I
said, you really don't need totake this level of risk for the income
that you want to take off yourportfolio. So it was a conversation that
I mean, it's a little difficultto have with her, but at the
end of the day, I'm tryingto do what's best in her best interest.

(01:15:47):
So he did a Dave Calpeck.Did you do a Dave Colpeck?
I put my foot down a littlebit, so, well, you got
to bring to the table what whatyou think is best for the client.
And that's that's what I tried todo in that situation. I'm getting better
at it. I'm not just thatI'm not. Just The reason why I
say that is sometimes when we getout of meetings, Nico will say to

(01:16:11):
me, and you're kind of aggressivewith that march. You're kind of chewing
on the bone when you talk,weren't you. Yeah. Yeah, And
you have to with some clients orthey won't hear it. Yeah. Yeah.
The bottom line is is that youknow, you know, people can
sometimes come in and say, youknow, there's a lot of eight hundred
telephone numbers. When you call,they got like four or five models portfolios.

(01:16:33):
So when you call, they basicallythey're filling out a form as they
speak to you, they ask questions. When they come to a number,
they say, okay, you're amoderate investor. This is the portfolio,
and they basically take the peg andthey put you in a moderate portfolio in
a way that you go and awaythey go, and you know, they
might talk to you every once ina while. That's not how we run

(01:16:54):
our business. We run our businessthat is specific to you, your goals.
You're objective, there's no cookie cutterapproach. It's specific for you and
what you're trying to accomplish for yourself, your spouse and your family. Yeah.
I think we've been doing a lotmore work with portfolio management and also
estate planning. We've done a lotof estate planning and looking at old insurance

(01:17:16):
products. And that's something I dowant to talk about in the second yeah,
and the next I figured in thenext half hour we'll talk about old
you know, I did a showspecific to this, I don't know,
a few weeks ago, but Ithink it needs to be repeated out with
the old and with the new exactlyand looking at those old policies you might
have purchased and you don't know whatyou have. Uh, that's what we'll

(01:17:38):
talk about in the second half hour. But everybody, if you want to
call in, this is a liveshow. One eight eight, two,
five, five, nine, fournine. We're gonna take a break.
We'll be back on the other sideof this half hour. Winter getting colder,

(01:17:59):
summer getting ty. Don't we havecome across the Mexican border. Why
back gallon as cheaper bottle barrel?Just don't get busted singing Christmas Carol and
we are back as we retire.That is Toby Keith. Was that Toby,
Yes, sir, he didn't.Toby battle cancer just recently. I'm

(01:18:24):
not sure. Zach's also, I'msure over there, but he had stomach
cancer. Was I think it washim? I know there was a country
artist that had stomach cancer, buthopefully he's on the road to recovery if
it is him. Yeah, Igrew up on his music. My father
was used to listen to him.So who was country in your house?

(01:18:44):
Your mother, your father? Theyboth were. They both were country.
And then uh, I used towork in my father's machine shop at nights
after school, and uh, weused to. He used to have music
downloaded on his computer. It wasall Toby Keith, Keith, Urban Metallica
was like that. So I wouldI would rock out while loading this.
Talk about you. You're talking aboutPolar Opposite North Pulse. Oh yeah,

(01:19:09):
you had all sorts of music onthere. But I remember I would go
right to Toby Keith or Big Bitch, and uh it was fun. I'm
kind of winded. I just sprininto the bathroom. I think they should
have as you put a work outfor you. I made it back.

(01:19:29):
I don't want to get into specifics, but I'm glad you're back. I
washed my hands too. We're fine, We're good, We're good. So
uh but yeah, this is aIf anyone wants to call in, we'd
love to have a question today.A twenty eight hundred eight two five,
five, nine, four nine.And yeah, before the break, we
were kind of talking about U insuranceproducts and we talked about multi yere guaranteed
anew what he's being at five percentfor the three, five n seven years

(01:19:51):
right now, some UH guaranteed interestrates that you could receive income off of
over that time frame as well.And depending on the state that you're in
too. I did some research whenwe're on break here. You can get
about six percent if you're in otherstates than New York. These are the
rates that were cool. Yeah,I didn't look at the specific states.
I saw the board. As faras national rates, it as high as

(01:20:15):
six percent. So wow. Sobut you know, the thing is,
like I said, and I wantto overemphasize New York State, if you
live in New York State, youget the additional protection for five hundred thousand
dollars to the New York State InsuranceCome Fund. So that for a lot
of people is very positive. Sothere's one thing that I want to you

(01:20:36):
know, talk a little bit andthen we get into it. But you
know, we're going to go througha lot of geopolitical uncertainty right now,
and you know, no one reallyhas a crystal ball what's going to happen
in the Middle East, and ourprayers are with those people. You know,
this is horrific what has happened tothe Jewish state Israel. And you

(01:21:00):
know, no matter what you know, religion, you pray to. I
don't think there's ever been any justificationfor the horror that we saw this week.
When I say horror, unspeakable horror. So you know, we don't

(01:21:21):
have a crystal ball, but Iwould say right now, we got our
ear and our eyes close to what'sgoing on, and you know, you
want to make sure that you've gotyour portfolio allocated if you do get into
a situation where we could get intosome volatility. Uncertainty is not something that

(01:21:44):
the market likes. After doing thisfor such a long period of time,
That's one thing that Wall Street dislikesis uncertainty. Yeah, I mean,
what's going on geopolitically right now isI mean that's uncertain I mean some of
the videos I try not to watchthem, but they're just horrific what you
see online nowadays. And I thinkthere's there's been what twenty seven confirmed American

(01:22:10):
deaths. Yeah, whatever, itis it's horrific. So you know,
thoughts to everybody out there, Well, there's one thing for sure, uncertainty
triggers volatility. We've seen that overthe last year. So the thing is
is that this whole Middle East thing, As I said at the very beginning

(01:22:31):
of the show, we recommend investorsdouble down, versify, look for opportunities
and high quality investments, and makesure you're not allocating your money to too
much of an aggressive portfolio. Ifthere is additional volatility. Yeah, strong
balance sheets, cash on hand,dividends. But I saw any analyst,

(01:22:51):
I'll mention this, you want toget into the out with the old and
in with the new, with theinsurance. But I saw a gentleman that
was on the other day and analystfor a major investment banking firm, and
I watched it and he felt that, believe it or not, he felt
that technology stocks would be better servedfor investors, especially the ones that had

(01:23:13):
billions and billions and billions of dollarsin cash in the reserves, which was
kind of shocking to me. Butyou know that there was a lot of
truth to that because you look atsome of these which I won't mention particular
stocks. We're not supposed to dothat. We're not going to do it.
But you know, you look atsome of these stocks. They've got,
you know, one hundred billion plusin cash and reserves, and you

(01:23:36):
know that's a lot of dough raymeat of weather storms. Yeah, I
completely agree with you. And theremight be some small cap stocks out there
that you're holding and you need tomake sure that you look at that.
We've been more advocating towards large capcompanies, strong strong companies, strong balance

(01:23:58):
sheets, strong cash flow. Butbut no, I do want to shift
because the show goes by pretty quick. Insurance products. We've been doing a
lot of work with folks that havecome in and we have a retirement questionnaire
that folks fill out when they docome into the office, and one of

(01:24:18):
the pages is about insurance. Soyou go through and list of different insurance
products that you might own, asfar as life insurance and annuities, yeah,
annuities. And we look at theseinsurance products and specifically the life insurance
and they might have an old universallife or whole life policy, maybe a

(01:24:40):
variable universal life policy. And whatwe do is generally we do an enforced
illustration to see where the insurance policystands. And we've had some some tough
conversations over the last couple of weeks, specifically specifically with this one older woman
that brought in a policy. Weran int frustration and it showed that it

(01:25:00):
could potentially lapse in a couple ofyears. Her old advisor told her that
she didn't have to make any morepayments on it. She's got a loan
outstanding on the policy, and we'relooking at a potential lapse in a couple
of years. So it's really criticalthat we do something because she put a
lot of money into this contract.We don't want to see it go to

(01:25:20):
waste. Yeah, that's important rightthere, Miko, is that sitting on
the fence and keeping your fingers crossedis usually not a good game plan for
that type of an investment. Youknow, a variable life insurance policy.
We look at it. Even althoughit does have the death benefit, it
is the dynamics of the financial marketswill have an impact on the cash value,

(01:25:44):
which ultimately has a dynamic on whetherit's going to lapse or stay in
force. So the thing is isthat you know, you can put a
band aid on these things. Youcan fix them. But the thing is
is that we always ask for whatthey call an enforce illustration, and the
insurance company sends us an illustration thatbasically sends us a statement of where the

(01:26:05):
policy is under the current crediting method, how much longer will it stay in
force? And you know, ifyou got six figures invested in a policy,
which this woman does, you wantto make sure that it's going to
stay in force, or you wantto make sure that you at least maybe
do some tweaking that there is somebenefit available to you. Now, how

(01:26:30):
do you do that? You dothat? We don't do it. I'm
going to be right up front withyou. You know, we don't have
the expertise internally. We go outto strategic partners that we work with and
they facilitate their expertise to do anevaluation on these policies. Dave, we
got a caller. We've got Marge. Marge is calling in. Can you
hear me March? Yes, Ican. How are you today? The

(01:26:53):
phones are terrible this morning? Thephones I have. Yes, I have
a happy problem. I discovered somebonds that that I didn't realize I had
that I sent back to the Treasurydepartment, and they converted them into non
bearing something or other, and obviouslyI want to do something with them,
because they're foolisd to to let's justlet the money sit there. They would

(01:27:19):
not be in a they'd be ina taxable situation. And I realized,
I'll have to pay a tax onthem? What what the the interest they've
earned? Most of them were boughtin the nineties for the series. Yes,
some ease and some eyes. Okay, I believe, and I'm estimating

(01:27:44):
I'm going to have about forty thousandthat will be taxable. So I've a
I'm trying to figure out I'll savesome money obviously to pay the taxes on
it, because so far I've guesstimatedthat within three three and a half years
i'll make back I'll make back thetaxable part of it. Sure, what

(01:28:04):
would you recommend I put them putthe bunds in? Because I know five
well, I'm in good Albany area, and I know four to six is
about the best we can that I'veso far figured out we can do in
in CDs, and I believe shortterm CDs are paying better than the market

(01:28:24):
right now. Well, I'll answerthis real quick and then I'll let Nico
because as I said at the beginning, you know I'm sitting in Florida right
now and Nico's in the studio inAlbany. But I will say one thing.
We're going to give you a broadbrush recommendation here. I think you
really have to be and what Isay that you should be working with the

(01:28:46):
financial team. There's a lot ofreasons and a lot of benefits. I
don't know if you are working withthe financial advisor, but we always talk
about that we haven't been able tocontact them yet. Well that's not good.
We'll get a hold of them.But I would say that you can
do you can do a better rateright now as far as the guaranteed rate
and control the tax liability. Wejust talked about the nyga's where you can

(01:29:09):
get five percent multi year guaran.It's just like a CD three year,
five year, or seven year.I'll let an Ekal get into a more
detail. But if you're looking forsafety and guarantees and some tax benefits where
you're not going to get a fluctuationof your corpus your principle meaning that as
long as you hold it to maturity, you're going to be guaranteed your principle

(01:29:30):
back plus the interests. To me, it's a no brainer. What's your
position to go? Yeah, Ithink it makes all the sense. I
mean, the multi year guaranteed contractsare going to give you the best guaranteed
rate you're in New York. AndI mean as far as tax my I
mean that sounds like you're what you'rereally looking at doing March. It would
be more looking at the rest ofyour portfolio. What else do you own?

(01:29:51):
I mean, is there any waywe can offset this tax liability a
little bit before year's end. Iknow you're talking about making it back within
three years, and that might bedoable with some of these guaranteed contracts.
But again, I mean, Ican't really can't get into the weeds unless
we know what you got. Ohokay, but do you think it's it's

(01:30:14):
doable to get six percent someplace?Or is five the well you can get
in corporate bonds right now? Dependingdepending on on the risk that you're willing
to assume in your portfolio, youcan get six percent right now in corporate
bonds. You can actually get higherthan that, higher than that, depending
on the amount of risk that youwant to assume. Excuse me, now,

(01:30:36):
I'm old. I'm very conservative.Yeah, I mean, I don't
want to risk Where do you live? Where? What is the state that
you reside in? I live inNew York, so you live in New
York, so you would be controlledby New York State contracts. But I
know, nationally right now, asI mentioned earlier, you get six percent.

(01:30:57):
You know, depending on the statethat you reside in. New York
State is very difficult, and they'revery strict with the insurance companies that do
business in New York State. That'sadvantageous for you, it's advantageous for the
financial advisor, any insurance companies simplybecause the reserve requirements the money that New
York State mandates that the insurance companyhas to have in reserves in order to

(01:31:19):
protect your investments, your you know, guaranteed rates. So if you want
to sleep at night and you wantthe additional protection up to five hundred thousand
dollars, I would probably have youat least look and consider an MYGA through
New York State. Okay, okay, and if you need some help,

(01:31:41):
and if you need some help,we'll be more than happy to sit down
with you. We have lots oflocations all any Malta, Glens Walls and
Oniana. If you want to sitdown and have a chat with us.
Okay, very good, I'll considerate. Thank you very much. Okay man,
all right, thanks for calling inMarchiana. We were just there,
what twice over the last couple ofweeks. Yeah, yeah, I wonder

(01:32:03):
if the aver there. I loveOneana. I don't know if you know.
The thing is the state you takefor granted, the beauty of New
York State. I know that whenyou come down here, it's gorgeous.
It's a whole different look because you'redown in Florida. But you know,
every time I drive I told youlast time I drove to Oneana, the

(01:32:23):
problem with oneon there's one problem withOneana. What's the problem. And it's
a major problem for me. AndI don't want people from Oneona to get
upset at me when I say this, and I'm going to say it anyway.
It's called Brooks Barbecue. That placeis dangerous. For my god,

(01:32:45):
every time I go in there,I get the brisket sandwich. I said.
I want to slap myself when Iget in the car because I want
to go back and get another one. I did the same thing when I
was there. I went and gotthe brisket sandwich and then I got some
coal slaw all the fixings. Ohyeah, uh. Our clients have told
us step down there. They've gota whole new configuration, which I'll tell
you the next time I go downthere. I look forward to it where

(01:33:08):
it's like like salad bar. Now, was it was that open for you
that you go through, You getthe salad bar and they put it whatever
you want. And Brooks they've gotthey got a buffet. Now that's what
I heard. Yeah, that's whatyou pay, which is great. You
pay price, you can get alldifferent meats you want on salad. So
I got to bring Julie down therebecause Julie loves barbecue too. So all
right, guys, we're going totake our last break. We are the

(01:33:30):
Retirement Planning Group. If we canbe of assistance, we would be honored
to help you with your pre andpost retirement planning offices. As I said,
we have four locations in the CapitolDistrict region and Oneanna. If you
want to have a chat again,you can either do it by phone zoom
or you want to face to face. Just called Jim or Brenda at five

(01:33:53):
eight five eight zero one nine onenine five eight five eat zero one nine
one nine and say you listen toNico and Dave it on the radio,
and we want to come in andhave a chat. As I said,
we don't do any business at allin the first meeting. We your choose
to do that, and I thinkpeople accept that and they know that when
they walk in the door. It'san educational opportunity for us to sit down

(01:34:15):
with you have a chat seeing whatyou're trying to do. At the second
meeting, we try to sit downand give you some basic recommendations, let
you go home and think about it. And then the third meeting usually that's
the time that we're going to haveyou implement and start the process consolidation,
simplification and building out your own personalretirement plan. We'll be right back after
this quick message the eighty six percenters. Do you know that eighty six percent

(01:34:39):
of the population has no defined benefitpension plan. For most of us,
we have to take our life savingsand create a paycheck for the rest of
our lives in retirement. What isyour plan for retirement income distribution? How
you manage your assets during the mostcritical years of your lifetime. Nobel Prize
winning economist William Sharp has called retirementincome distribution the nasty, hardest problem in

(01:35:00):
finance. He points out that investment, uncertainty, and mortality can derail the
most careful laid out retirement income plan. Call our offices today to start the
process of building your retirement income distributionplan. After forty one years of being
in the financial services business, youneed to start taking action to start building
your own personal retirement income distribution plan. How do you do that? To

(01:35:23):
take action five one eight five eightzero one nine one nine. That's five
one eight five eight zero one nineone nine or RPG retire on the web.
Don't procrastinate, motivate to start buildingyour retirement income distribution plan five one
eight five eight zero one nine onenine. If you have any questions,
please call in now at one eighthundred eight two five fifty nine forty nine.

(01:35:45):
That's one eight hundred talk WGY,one eight hundred talk WGY. We
are live in studio to answer yourquestions. We're talking about your work,

(01:36:11):
how your boss is, We're talkingabout your church and your hand. When
it hurts, we talk about thetroubles you've been having with your brother,
and I want to talk about me. You never heard this one. I
want to talk about me. Iwant to talk about that. I like
this. That don't sound like countryto me. That sounds like country wrap.

(01:36:32):
Yeah, Toby Keith does it all. He does it. That's Toby
again. Yeah, it was Toby. M strictly Toby today. Right,
we're gonna finish up here with somehighlights. How does that sound? That
sounds good? I also we weretalking about insurance a little bit, and
then uh then Marge called in,so I know we were talking about enforced

(01:36:53):
illustrations and so what we do withthose enforced illustrations We see what the policy
is going to do over the nexttwenty thirty years based on assumed premiums that
you're going to be paying, andit kind of shows how the policy should
perform based on assumed rates. Andthat's what we look at with clients when

(01:37:15):
they come in, and then wetalked to them about some alternative options,
whether or not it makes sense.Generally, we're not big advocates of canceling
insurance policies, but we will lookto see whether or not it does make
sense to keep it. Maybe youhave other assets in your overall portfolio.
So again, I mean, wejust want to look at what you have,

(01:37:38):
know what you own. Well,there's different chassis out there, Nico
that didn't exist ten to fifteen,twenty years ago when people bought policies like
high cash value policies. Yeah.And the thing is is that some of
these I know that Jim was veryimpressed with that one particular policy that was
life insurance with the long term carethe benefit that was paying or possibly would

(01:38:01):
pay if they needed long term carecovers. And you know, I guess
the big thing is that you don'tknow what you have until you get it.
Looked at your car, you getit, you know, maintenance on
it. A lot of life insurancepolicies, people come in, they got
dust all over them because they're sittingsomewhere in a cupboard or a box.

(01:38:24):
They basically have not looked at thesethings for years. And what I would
say to you, you might beshocked. You might be surprised as far
as simply by filling out some paperworkand doing a couple of questions on a
telephone, you might be shocked.And what you can create with your old
and transfer it over to the new. Because we've done this with individuals,

(01:38:46):
I've you know, some happy storiesand some sad stories. I talked about
the one a couple of weeks agoabout the doctor the dentists that that attend
thirty five exchange and went from fiftythousand dollars to two hundred thousand. But
he ended up passing away, sohis family got a check for two hundred
thousand dollars rather than fifty thousand dollarssimply by just doing some paperwork. So

(01:39:10):
it also had long term care rideron it, which he would have got
eight thousand dollars a month in longterm care coverage. And that was simply
by doing a ten thirty five exchangewith no additional premium. So it is
available. It's a question, youknow, get underneath the hood, find
out exactly what you have. Andas I said, you might be shocked

(01:39:30):
with some of the alternative products thatare out there right now that might be
more suitable for this stage of life. Yeah, ten thirty fives are huge.
I mean you can gim runs.Illustrations will show what it would do
if you take your cash value dumpit into a new policy. What it
would purchase as far as death benefit, and like Dave saying, it might
have one of these riders attached toit to where you could take money for

(01:39:51):
long term care in some form ofaccelerated death benefit. So yeah, you
can. You could definitely take alook see if it makes sense. I
mean, you don't have to putpen to paper in any of these.
We just want to make sure we'redoing what's best for you. So but
again, I mean on on today'sshow, we're talking a lot about insurance
products. Again, I want toreiterate that right now we're in a good

(01:40:14):
point for multi year guaranteed annuity contracts. We've been doing a lot of work
with them. You can get fivepercent in New York state. Dave was
saying, if you're in a differentstate, it might be a little higher.
But still, I mean, afive handle five percent return on your
on your money isn't a bad rateof return right now, especially in a
world one certace. What is modernportfolio? If theory tell you as far
as how much you should take offa portfolio, four percent, so four

(01:40:38):
percent off the portfolio, So fivepercent gives you twenty five percent more of
what modern portfolio theory says you shouldtake with no risk. With no risk,
Yeah, it's not a it's nota bad return. And I think
especially if we're sitting out three fouryears from now and if rates are down
and you're you're at five percent,I mean you're gonna You're gonna be violent.

(01:41:00):
You're going to be going to thebank and grabbing your cash out of
your account and spending it. Sobut yeah, again, I mean insurance.
Make sure you know what you own. I had a teacher in college.
I always think of that whenever Isay that term, and he always
said, know what you own,know what your own ego. And he
listened to the show all the time. Did you know that? I think

(01:41:20):
I brought that to the show thatthat was my phrase. You you got,
I'll give you the red zone.I didn't know about the red zone
till until you started saying it.I must admit. Credential came out with
that called the red zone, andI embraced it because I believe in it
from the bottom of my heart onethousand undred percent. It is so critical

(01:41:44):
for people to have a plan,you know. I love the phrase you
know, no plan, any destinationwill do right if you don't have a
plan. Who cares where you endup. You build a house, Just
build a house. I'll put afoundation here and some sticks and bricks over
there, and you know, youknow, you end up with a hodgepodge.
You just need you need a blueprint. There was a company that came
out to basically market it the retirementplanning process called Blueprint, which I thought

(01:42:10):
was fantastic because it's exactly what theyneed. You need a blueprint for your
retirement, just like you did witha lot of the other things that you
did in your lifetime, specifically yourhouse. Yeah and yeah, I like
that the blueprint. So you gotto structure it so that you could see
what your portfolio is doing and whatyou're trying to accomplish with it. You're
not just buying, buying what youthink is going to grow or that.

(01:42:33):
The one thing I haven't heard of, Santamile is the sixty four thousand dollars
question. That's great. Now,what is the four thousand dollars question to
you today? Is that should Igo to the beach or should I just
go sit by the pool? Yeah? Plan today? What do you think
I'm going shopping with my son?He needs food. He needs some more

(01:42:54):
furniture in his apartment. He needs, you know, maybe a couple of
things to hang on the wall.Daddy came bike check book. You gotta
get them a bike, right,He's not saying that I'm gonna go buy
him a scooter. Because insurance downhere is like if people didn't listen earlier,
twenty nine hundred dollars a month formy son's car insurance, which is

(01:43:15):
basically very basic insurance. Twenty ninehundred dollars for six months, six that
twelve. It's outrageous. And ifanybody, if anything resonated today, if
you want to call our office andhave a chat with us. Dave mentioned
we have a complimentary consultation. We'dbe happy to sit down, meet with
you, educate you, if anythingon what you have and and talk about

(01:43:39):
a plan. You can give usa call. Our office numbers five one
eight, five eight zero one nineone nine. Again that's five one eight,
five eight zero one nine one nine. We've had a lot of questions
through the website as well. Youcan find us online at rpg retire dot
com and it's rpgretire dot com.Everyone, thanks for tuning in today and
We'll be back again next week.The information provided is for educational informational purposes

(01:44:03):
only. It does not constitute investmentadvice and it should not be relied on
as such. It should not beconsidered a solicitation a buyer or to offer
a sales security. It does nottake into account any investors particular investment objectives,
strategies, tax status, or investmenthorizon. You should consult your attorney
or tax advisor. Thank you forlistening to the Retirement Planning Show hosted by

(01:44:24):
David Kopek. If you would liketo talk with Dave or someone at the
Retirement Planning Group called five one eightfive eight zero nine nine that's five one
eight five eight zero one nine onenine during business hours, or visit us
at RPG retire dot com. TheRetirement Planning Group has three convenient offices located
in Albany, Malta and Glens Falls. Retirement Planning Group LLC is a registered

(01:44:45):
investment advisor. David M. Kopecis also a registered representative of pers Chaplin
Sterline Investments Inc. PKS in theirseparate capacities. A registered representative of PKS,
David M. Kopec may recommend theimplementation of securities through p instead of
Retirement Planning Group LLC, PERSH ChamplinSterlin Investments and Retirement Planning Group LLC are
not affiliated companies. Tune in againnext week for Retirement Planning Strategies with David

(01:45:10):
Kopek on the retirement planning s