The Need for a Retirement Coach

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Episode Transcript

(00:00):
The advice given on the following programdoes not necessarily represent the views of iHeartMedia
It's management and staff. Since individualsituations ken and will be different, Please
consider this when exercising any options givenby our guests. It's time to get
your retirement plan in order. Welcometo the Empowered Retirement Show with Pete Simbolac

(00:21):
and Nick Toman CFP. Reach outto the Empowered Financial Team now at six
oh eight two one two seventy threehundred or visit their website EMPOWEREDFM dot com.
Now here's your hosts, Pete Simblacand Nick Tomy. Hey, everybody,
welcome to this beautiful, full colorfall morning Saturday morning in southern Wisconsin.

(00:46):
Pete Sinbleak here, Nick Toman,certified Financial Planner. We're with Empowered
Financial Management and this is the EmpoweredRetirement Radio Show. You can always reach
us at six zero eight two onetwo seven three zero zero or find us
on a web at Retiremadison dot com. And Nick, we do have a

(01:07):
badger game following us shortly after ourprogram today and that actually plays a little
bit into some of the things wewant to talk about. I don't know
how many golfers there are out there, or like our golf illustrations, but
we could put it to the Badgers. We could put it to the Packers
or the Brewers or whatever sports team, because we really want to dive in

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today about the real need for arelationship with somebody to coax you along or
coach you along in life. Andwe talk about retirement. So we're talking
specifically about retirement. But you know, when we talk golf, I love
talking golf. And I did playgolf the other day and it was a

(01:51):
little bit chilly. I don't knowif I'm ready to play at fifty degree
weather with a little bit of win. Well, heck, pet you and
I played golf in December a fewyears ago. We did that was fun,
So that was a novelty. Yes, But you know, when you're
playing golf, there's a couple ofways, or playing any sport, there's
a couple of ways you can lookat it. You can be out there
having fun and just look at itfor fun, or you can kind of

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get yourself in a spot where youreally want to be good at something.
You and I were having a conversationnot that long ago, a couple of
weeks ago, maybe it's only aweek ago, but we were talking about
your golf game. We were talkingabout our golf game and how much you
have improved this year, and yousaid to me, you know, like,
all of a sudden, now Iwant to improve more. You got

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to this certain spot. Well,okay, equipment is part of it.
And I've joked with teased Nick fora long time because he's playing with almost
twenty year old equipment. But hestarted making some adjustments and buying new equipment,
and all of a sudden, todaythere's some better things happening out there,
and I think soon he'll make someadjusts and the rest of it.

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But now this also comes into thatquestion, do you actually go take lessons?
Do you actually have somebody that helpsyou with the various parts of your
games? Now, what do mostpeople do? They go on YouTube,
right and watch a bunch of videosand that they can pick that up.

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Well, okay, I can tellyou this year I joined a club and
I had lessons and they definitely havehelped me tremendously in various ways by having
those lessons, and it makes abig difference in a fun factor in the
game. No, we're just talkinggolf. We could talk Badgers, we
could talk all the sports, whetheryou're playing baseball or basketball or whatever it

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is. When you get help,you find that things get better, traditionally
get much better quickly, much morequickly if you try to do it on
your own. When it comes toretirement, most people don't even realize how
important that coach can be for them. That's a great point pipe because we're
talking here recreation type things, golf, sports, whatever the case is.

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But that absolutely one hundred percent appliesthat mindset to something like retirement because you
get one chance at this. Soif people will go out and get coaching
or help to do things that arefun, it's recreation, don't you think
it's a thousand percent more important thatthey do that with things that really do

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mean something in their life, suchas retirement. Well, we do this
for a living, so yes,we do think it's important. The question
is do you, as a listenerthink it's important and if not, why,
Because we're going to have a goodconversation today about why it is important
to have that kind of relationship foryou in retirement so that you can have

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the successful retirement, or maybe evena more successful retirement than what you are
hoping for or expecting. That's trulywhat this is about. So, folks,
this should be a good show.We're gonna dig in. We're going
to talk about the relationships, thebenefits, and some things to look for
in looking for an advisor to teamup with. This is the Empowered Retirement

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Radio Show where we bring your retirementdreams to life. Welcome back, everybody
on a Saturday morning, a badgerSaturday morning. This is Nick Toman and
Pete Simblack, the Empowered Retirement RadioShow here in studio, working to make

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your retirement better. You can reachus at six oh eight two one two
seventy three hundred. Visit our websiteat Retiremadison dot com. Retire Madison dot
com. So if you want toconnect with us, or as you're listening
to the show Pete and you're outthere, maybe you're within five six seven
years of retirement, maybe retired lastyear and want to connect with one of

(05:53):
our advisors. Talk about how readyyou feel to take that next step you
can do that, give us acall six oh eight two one to seventy
three hundred. So let's get intothe show today. Have a lot of
good stuff to cover Pete. Youknow, in that first segment, we
started teasing the folks out there aboutthe importance of coaching, whether it's doing
things recreationally and hiring a golf coachas a reference, or things that really

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matter in life. And that is, as you get older and you've worked
all these years to have an amazingretirement with your family and your grandkids,
how you go about that and thebenefits of having somebody walk alongside you to
help guide you in some of themost important decisions you're going to have to
make. So let's jump in andlet's continue that theme. I think the

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way you just started that is justthe perfect segue because you know, why
don't most people, So let meactually step back for a moment. A
lot of people do have advisors,right, Most people have financial advisors that
do investments for them, that's right. So the importance of that is understanding
that so many people that call themselvesfinancial advisors, and they're allowed to call

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themselves that, and I'm not denigratingthat, but they just give investment advice.
You work with a financial planner,right, and they typically build plans
for you that typically stretch much furtherthan just investments. Or hopefully that's what
they do when it comes to retirement, because that's where we're going to relate
this back to what kind of advisordo you want in your life? When

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you and I have had a lotof conversations with people lately, and the
importance of having an advisor in yourlife becomes very apparent for decision making,
you know, I think it waseither morning Star or certainly Vanguard has said
this in the past that they believethat having a financial advisor, a good

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financial advisor in your life adds aboutthree percent three percent to your returns over
time. Now they're not talking justmarket they're talking about mistakes you might have
mean their right that they're helping youavoid. It's your overall retirement. So
when you look at your life andyour finances in its entirety, I like

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to say, in its totality,look at your wealth and totality, investments
are a big part of it.And we've grown up many of us saving
being very good savers. Maybe we'reutilizing our retirement plans at work and we
have somebody come in every year andhelp guide us through some of the investment
choices, or the investment advisors thatwe work with, as you mentioned a
few times, Pete, very focusedon allocating money the right way into different

(08:35):
mutual funds or ETFs or stocks,and that's that's important, and that's all
well and good. But as youget a little bit older, those things
that at one point in life justbecame set it and forget it type of
things now and we're going to talkto you about this and educate people on
why it's going to require active engagementon your part and somebody you walk side

(08:56):
by side with to make sure youdo this the right way. Pete,
there are some fun they've got financialadvisors when they were young, right,
they're in their twenties thirties, andthat's where, like we used that B
word, the budget, right,they helped you establish a plan, a
long term plan to help you getto retirement. But there were also decision
making in there. Do I buythis car? Do I buy this house?

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Did I take this job? Imean I get asked even in retirement,
I guess get asked these questions allthe time because this is life and
this is what you really pay forsomebody to do. And often people did
that when they're young professionals. Theygot things straightened out. And for example,

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I have a client who is intheir twenties. I don't want to
give too much away. They workwith a company where they have an opportunity
to possibly work overseas for around twoto three years, and so they really
want to take advantage of this opportunity. So we got together to review their
financial situation, how much they've beencontributing. When they go overseas, there

(10:05):
could be some income differences. Sowhen that happens, do we continue to
contribute in this way? Do wemake some changes? All of those kind
of decisions are coming into play thatwe're discussing, right. That's an example
of having a financial advisor that goesbeyond just the investments. Yes, investments

(10:26):
are part of it. Contributions arepart of it, but we're planning out
there next five years based upon wherethey're going to live, in different opportunities
and maybe a little less money orhigher expenses. That's the kind of advice
that helps you put yourself in aspot to where it's not just about the
money in the market, but it'sabout the advice you get along the way

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that makes sense, that makes perfectsense. You just gave one example of
dozens and dozens of the types ofdiscussions that are going to be valuable and
need to be had, especially aswe get older. That's just one example
of something that if you make thewrong choice, could cost you thousands over
the years. So there's dozens ofexamples that we could that we could cite.

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The other part to that when youwere talking about this Pete Advisors,
and again I'm gonna pick on ourindustry a little bit. Over the last
ten, twelve, thirteen years,it wasn't that hard if your whole focus
was to manage money and sit acrossthe table during these annual reviews and show
people the returns in their investment portfolioin the market's averaging twelve thirteen to fourteen

(11:30):
percent a year, and everybody's happy. You've made money, You've mitigated some
risk, and we're in this runwhere for the most part, I hate
to say this, but anybody probablycould have made you money during those times.
I throw it down at the boardand you're probably up. And again
I'm not criticizing people because we werehappy, but look at the perfect storm.

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If you're retiring in the next coupleof years, right on the doorstep
of what we've just gone through inthe market, in the world. The
world's change, The market's changed,a lot of decisions to make. If
you're thinking retirements just about those returnsevery year, that's a dangerous way to
approach this and the it's just partof it, just trying to get and
as you said in class this week, Pete was teaching some classes this week.

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I like when you use the phrasewe just getting the juices going here.
Let's think about this and that's whatwe're talking about, Pete. Yeah,
it's important for us to understand that. Yeah, making money is important.
If that's all we have, that'san investment advisor and that's what they
are, and that's all they do. What we're talking about is helping people

(12:33):
get coaching in their life. Inaddition to that, Yes, we being
sure we put plans together, financialplans where you're covering all the bases,
but life is happening in between.When I do my annual reviews, we
talk way more about life then wetalk about the plan, not that there's
a problem with the plan. Infact, the problem is there isn't a

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problem with the plan. We wantto make sure we know what's going on
in life. So as things happen, as decisions happen, we know what
and why and where and how.We're a team. That's right, That's
a partnership, is right that you'relooking for, Folks. I'm just going
to take a sack here and say, do you have that kind of relationship
with somebody going into retirement? Andoh, by the way, you might

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have an investment advisor, they mayor may not be the right person to
lead you through retirement because if you'renot having these kind of conversations, and
we could talk about a lot ofconversations from job changes to health of parents
and how that affects or future inheritances. We had a conversation with a client

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the other day that was talking aboutan ambulance service. Well, you know,
the sixty thousand dollars mistake could happen, But at the same time,
in this instance, was it theright fit for this particular person. The
answer is no, And we cango into detail, but we just say
that person thousands of dollars, thatit sounded good and looked good, but

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it wasn't. So, folks,do you have a relationship with that with
somebody like that going into retirement?If you're within five three on the precipice
of retirement. I'd say you shouldpick up the phone and take advantage of
getting a free consultation. And thisfree consultation with us is getting to know

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you. It's about an hour toan hour and a half where we sit
down and talk and we get toknow you. We find out who and
what is important to you, whatyou've done to get yourself where you are,
and you know, what are yourgoals in retirement and do you want
to how do you want to doit? Are we a good fit to
help you along the way. We'renot a good fit for everybody. I

(14:46):
mean we're we're pretty selective, andI think you should be selective too.
So I would say pick up thatphone and give us a call at six
zero eight two one two seven threezero zero and spend an hour to an
hour and a half getting to knowus and finding out if we're a good
fit to be a partnership with youthrough retirement. Six zero eight to one
two seven three zero zero. Leavea message for us. It's Saturday morning.

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Caleb will give you a callback onMonday and we'll set up a time
to get together. And the onlydecision we're going to make in that is
well, I guess there's maybe oneor two. Do we like each other
and is it worth having another meeting? It's that simple six eight two one
two seventy three hundred. Or ourwebsite Retiremadison dot com, there is a

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widget there for you to schedule avisit with us as well. Yeah,
not only are some of the mostenjoyable times I have with people during these
visits when I get to hear theirstories and learn about them for the first
time, but one of the otherthings that's very rewarding in what we do,
Pete, is what you're just describingis when we have conversations and we

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guide folks and things that are maybea little bit outside of just that investment
bucket. Of course, people expectus, rightfully so, to guide them
in the invent part of retirement.But when somebody comes in and they're talking
about life decisions, maybe it's shouldI be fixing up my home? Is
it okay to do this? Maybeit's a family dynamic that they're leaning into

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us for guidance. That is oneof the most rewarding things, and it
tells me that I'm probably doing myjob, if they're leaning into me to
help. One of the biggest reasonspeople come to us is they're on the
doorstep of retirement. They often cometo a retirement course, so they've got
to know us a little bit more. But one of the things that aha
moment that happens to them is thatthey recognize that they do all the finances

(16:34):
themselves, one of the spouses.They do it all, and if something
happens to them, they're incapacitated,They're hurt. Their spouse is in a
very difficult situation. Now, theyprobably have the assets, that's not the
problem. The problem is if somethinghappens to me, what happens to my
spouse? Yeah, they have themoney, but think about it, when

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you are you've been married for fortyyears, thirty years, fifty years is
a long time, and you passaway and you've been doing all the finances,
what happens to your spouse. They'reput in a vulnerable position. They're
now mourning the loss of you.I guarantee you, if there's any kind
of publicity, there's going to bepeople calling them trying to give them advice,
help them out. And that mightsound good, but when they're vulnerable

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and they're mourning you and they're tryingto figure out life. Now they're going
to do this on their own.Is that a good time? Is that
a good time for them to haveall these people pursuing them? So you
put a plan in place with peoplethat are going to be around when that
happens, that you can trust,so that if it happens, or when
it happens, your spouse is okay. Because the plan, the people the

(17:42):
right along the same thing. That'sreally important. That's one of those aha
moments, folks. This might beone of those aha moments for you.
Six zero eight two one two seventhree zero zero. When we come back,
we're going to continue this conversation.Maybe we'll bring up some investment instances
that we need to think about,especially early in retirement. And yeah,

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this is the Empowered Retirement Radio Show, folks, where we make your retirement
awesome. Welcome back everybody to alively Saturday morning on in fall in Wisconsin.
This is the Empowered Retirement Radio Show. Pizez and Black, Nick Toleman,
Certified Financial Planner. Boy. Youknow, the year has gone by

(18:29):
quick. It is in the deep, but we're in the midst of fall.
Now, colors are beautiful, thingsare changing. I do love this
time of the year, with theexception that, as I say, almost
every other week, at any pointwe could wake up next week, we
could be doing the show and sixinches of snow could be on the ground.
All I got to think about iswhen winter comes, spring is coming.
That's what we have to think about. But I also think about some

(18:52):
of the folks I've worked with overthe years that have prepared properly, that
migrate to warmer climates and play theirown rounds of golf, do and floor
in Arizona. You know, againwe go back to having an advisor,
having a coach that helps you makingthose decisions. You know, how many
people have you known? And thishas happened a lot. In fact,
you know, my kids live downin Nashville or in the Nashville area,

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and they call that half back territory. Have you heard about that. Yeah,
it's because people that move from thenorth down to Florida and they can't
quite stand the heat in Florida,so they come halfway back hand up in
Tennessee. So it's half back territory. When you have good people helping you
out, often you can help avoidbad decisions. How many times have we

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had, you know, folks thatwe work with that have wanted to purchase
a property down in Florida or Texas, or Arizona or California, wherever they
like to go. In fact,we've got them in Alabama and Tennessee everywhere.
But one of the big decisions isdo you buy a place down there
and then just have two places?And now everybody's situation is different, and

(20:03):
some people have purchased down there.In fact, had some folks that just
retired and they had planned to gomove to the villages, and after they
got down there, they did notlike it. They did not like it.
So before they bought, they wereable to redirect their chance and redirect
their plans, and disaster was avoided. But we were able to do a

(20:25):
bit of a test run ahead oftime, go into Texas. Folks that
go to Texas every year early onthose decisions do we buy or do we
rent? Well, for most people, more often not renting as a better
decision unless you're really going to gosix months out of the year or more.

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But I found that the people thatactually think about this thing through this
and plan and makelest of those prosand cons and envision what life's going to
be like in these homes in Arizona, Florida, whatever it is. When
you do it that, whether yourent or you buy, they just have
more enjoyment, more peace of mindthat as part of an overall strategy,

(21:07):
they're doing the right thing, asopposed to just off the cuffs saying,
oh, I saw this deal onthis property, and you buy it,
and now it's too late, andyou know, heck, given what we
see happening in the housing market especially, that's one of those mistakes if you
make it could cost you thousands,and now you end up in a place
that you wish you would have justtalked this through a little more. So,
another perfect example of things not necessarilyinvestment talk, but outside investment talk

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that's just as important to your overallwealth and retirement, you know. Again,
to go along with this, I'veI've had folks that we've had the
discussion that did buy down in Arizona, for example, I'm thinking of somebody
that's in Arizona. But the questioncomes, now, okay, we bought
both and everything worked out fine.When I'm fully retired. They did this

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before they were retired. Now thatthey're retired, do they stay in Wisconsin?
And I tell them, just givesme more excuses to go to Scottsdale,
which I thoroughly enjoy it. Iknow whether they rent or by.
I'm raising my hand for those folks. And I have a few in Florida
and some that go to Arizona.Trust me, they hear from me.
We laugh about this. I'm thefirst guy to raise their hand and email
them and bug them say hey,I will get that. Oh yes,

(22:17):
I will give you that extra personaltouch if you just have me come out
there for two weeks. Let's justsay, and I'm spitballing here first week
of February. There we go,right, Yeah, you can tell I
thought this through, but the catchers, Yes, but we're having fun.
And that's what retirement should incorporate.Fun, enjoyment, leisure, relaxation.
But do it thoughtfully, Pete.And that's the whole point, right,

(22:38):
these big life decisions. How doyou how do you find the right attorney
to help you with your estate planning? How do you? I mean?
And there are different attorneys that arereally good at different niches, right,
So having a relationship to bring indifferent people to your team. Under certain
circumstances, it becomes very valuable.I've had clients we're talking real estate lot

(23:00):
right now. I've had clients thatthey were going to buy some real estate
with a sibling, and we wentthrough probably six months of back and forth
the pros and cons of whether that'sa good decision or not, and in
the end they ended up purchasing ittogether with them and they're very happy with
the situation. But this was thisperson's first time being a landlord, so

(23:23):
thankfully their sibling had gone through it. But I mean there were other things
that we won't talk about that wentinto this decision making. It is about
having that coach, almost a lifecoach, but it's about it all stems
from that financial planning and works itsway out. Folks, what do you
have Have you done this? Doyou have this kind of relationship? Do

(23:47):
you have a relationship with somebody thatjust helps you with investments? Is that
going to be enough when you actuallyget into retirement, because retirement is really
different, and I want to getthis in there that Nick and I wanted
to talk about. When we teachretirement courses, it comes up and I
am thinking about the proper coaching,because just because you had a good investment

(24:08):
coach might not mean they're a goodfinancial planning retirement coach. Here's what I
mean, sequence of returns risk rightright now in the market. If we
were to put you up on achart, and we do this in class
where we take five hundred thousand dollars, and we take a withdrawal, and
we take a time period and haseight point three percent rate of return,

(24:32):
We do all these things, anddepending on the sequence of the returns,
you either have more money than whatyou started with twenty years later, or
you run out in twelve years everythingbeing the same. How does that work
well? If the bad years happenearly in retirement, it can devastate your
portfolio later on down the road ifyou're taking money from it. Most I

(24:59):
have not heard single investment advisor planfor that in retirement, because it's different
going down the mountain rather than goingup the mountain. If I can use
that and the planning that's done,Pete usually, and again this is not
a criticism of anyone particular advisor,but it's usually very generic. It uses
averages, so you describe the averageof an index let's say, let yes,
some P five hundred, it's seveneight percent on average over the years,

(25:22):
over fifteen twenty years. But itdoes actually matter significantly the order in
which those hit you, and ifthey hit you early on. And it's
something that's come up three or fourtimes in the last month, Pete.
In my conversations where it's like abucket of cold water, folks have said
to me, I didn't think throughthis that way. We were in class,
we talked about this, what canwe do, how can we prepare

(25:45):
in the event that happens to me? So that's what this is about.
And this is again having the rightcoach, the right advisor that teams up
with you so that the right resultshappen. And some teachers are kindergarten teachers,
some are high school teachers, areprofessors in college. Doesn't mean any
of them better than the other.It means they do have a different job
to do at a different stage oflife. And if you are not properly

(26:10):
aligned with either the professor or thehigh school teacher or the kindergarten teacher at
the right time, you can findyourself in a world hurt. So again
I'm going to wrap up with makingthis offer to give us a call to
get that complimentary visit six or eighttwo one two seven three zero zero and
set up a time to meet withus to see if we're a good fit.

(26:33):
And I think we'll pick this upto start off on the other side
of the break and then we'll finishup this program again talking about the right
relationship with an advisor. This isthe Empowered Retirement Radio Show, making sunshine
out of snowflakes. Welcome back everybodyto the final segment of the Empowered Retirement

(27:03):
Radio Show. This is Nick Toemanand Pete Cymbole, act or for the
Day or for the Day on aBadger Saturday, helping to make your retirement
better Peaches. As a follow up, as we ended that last segment,
you were making an offer to thepeople listening out there regarding having the right
retirement coach, maybe a little bitdifferent than the coach you had to get

(27:26):
to retirement. But if you're atthat point and you're within five years of
retirement maybe retired, and this justfeels overwhelming and you're starting to get those
juices flowing and think through this alittle bit and realize, maybe I need
to do something different. The offer, Pete, that you made was to
give us a call to set upa one hour, maybe one and a
half hour complimenter complimentary, sorry,introductory visit with one of our advisors at

(27:51):
our office out in Middleton. Wecan do this either in person or we
can do it beas and we preferto do it in person. We like
to get the folks in a room, roll up our sleeves. The idea
there ninety percent of the visit ishearing from you what you've done to this
point, what's on your mind,what your vision of retirement is, what
matters to you, What are thosethings that are important so that we can

(28:14):
figure out is what we do,what you need and what you want and
can we properly help you and guideyou as that coach. But it's over
a cup of coffee. And theonly decision we're going to make when we're
done with that visit is one,do we think we're a fit for each
other, Can we get along?Would we enjoy working together? And then
that's where we decide. After that, Pete, we would take a little
bit deeper, dive into the sandbox, so to speak, lift up the

(28:37):
hood, start diving into the balancesheet all that, but the first one
is over a cup of coffee,we get to know you and again you
walk away with You're going to findthose meetings together are very valuable, just
because I think it's going to bea nice starting point or could even be
a second opinion. So give usa call six O eight two one two
seventy three hundred. Our staff isoff on the weekends. On a Badger

(28:59):
Saturday. Leave your name number andCaleb will call you Monday to get that
visit on the calendar. I'll tellyou it's so important to mean sure you
are going through life with the rightpeople, right. I mean the team
you decide to work with on yourfinancials is huge in retirement. It's way
different and free too. I meanit is liberating when you have the right

(29:22):
team in place to help you out. Pete. That's the key word team,
because part of our job as advisorsas is to be that head or
that even that quarterback. We're talkingfootball here in a Badger Saturday. Of
your team you mentioned in that lastsegment of state planning, it's one area
of retirement wellness to make sure thatyou plan properly, and our job is

(29:45):
to match up the folks with theright people. So I do that all
the time. I did that afew times this week. Is find that
right fit as part of our teamto go through each of these areas of
life because we understand our limitations,you know. And again we're looking at
things that balance sheet from a tenthousand foot view, and one of the
things that we need to help peopledo to protect that balance sheet. One

(30:07):
of those areas could be a stateplanning, so it could be that type
of an attorney. Maybe when we'redoing tax engineering peat right, we lead
into accountant CPAs, so we're notworking against each other. We want to
coordinate our efforts. So that isone of the most important jobs that I
have is to be the quarterback ofthat relationship. I was talking with a

(30:27):
person that we worked with earlier inthe week, and one of the conversations
was the potential of an inheritance downthe road. And one of the quandaries
that this person is involved in isone of the parents is not doing well
and they own multiple homes and sothe surviving spouse is debating whether to sell

(30:52):
property or not sell property and thingslike that, and you know, we're
talking and we're talking large sum ofmoney, right, I mean we're talking
multiple millions of dollars likely that's outthere. And why do I bring this
up, Well, because they hada financial team around them. Right now,

(31:12):
my client I work with, thisis their parents, and they have
a financial team. People who arewealthy have a tendency to have a team
of financial advisors. Now I don'tmean five financial advisors. I mean an
attorney, a CPS that's a financialplanner. They have these advisors and they

(31:34):
team together, and they group andso you know, my head spinning,
whither's all these different possibilities based uponthese other circumstances. And yeah, they've
got a team thinking they're through rightnow. But probably most people don't even
realize you've got half a million dollars, you've got two million dollars, you

(31:56):
got four million dollars. You mightnot think you're big enough to need a
team. I'd beg to differ withyou. Well, I need a ful
team. Oh gosh, you're onehundred percent right, Pete. Because as
we were talking about before this show, let's just be real about this.
As you get into your late fifties, early sixties or seventies, there are
just different things in life that arebound to happen, whether it's health issues,

(32:19):
tax rates changing, going from earninga paycheck now to creating a retirement.
There's just so many different things thatare going to happen at this part
of life. Ask yourself out there, if you've relied on your four to
oh one K investment advisor to guideyou through investments, are they the ones
that are going to be equipped tohelp you deal with things like a state
and taxes and creating income in retirement. And again this isn't a criticism.

(32:42):
I'm just telling you and about thatto anybody that is primarily just an investment
advisor. So I mean it couldbe at the local shop. It doesn't
have to be the four oh oneK could be an independent advisor. And
when again not criticize them, theymight just be fine. But is that
what you need going into retirement ordo you need more? You want more?
Do you want that confidence that afull team comes from both our team

(33:04):
and the people we work with toround out a full team for our clients.
It is a question of service andwhat you want and what you want
out of your retirement Folks. Whenwe look at retirement for people, we're
looking at what are the best things? How do you optimize what you want
out of retirement? So, firstof all, you gotta know what you

(33:25):
want out of retirement. You gotto you gotta start thinking about what you
want from retirement. And then whodo you want to go through retirement with?
Who's important to you? There arethings in life we can control,
and there are things in life wecannot control. So how do we put
together the best plan for those thingsthat we can control to allow you to
have the best outcome. That's thequestion. Who's who's important to you?

(33:50):
What family? What do you havekids? Are you an empty nester or
are you do you have I mean, there's all sorts of things that go
into this. Some folks aren't don'thave kids. What about what you know?
What do you like to do?Not just hobbies, but what's important
to you? For work? Lotsof people like to work in retirement,
not because they have to work,that's right, but because it keeps them

(34:13):
going, it gives them something todo and they enjoy it. And then
of course what are our hobbies?Right? You know, I talk about
golf, but I mean it couldbe anything. And people like to travel,
in retirement. What does that mean? Well, do you want to
hop into an RV and go downto the to the national parks, or
do you want to go to Europe? Or let's talk with a client this

(34:35):
week. I've got I would loveto take a trip to the Far East.
I'd love And this person had traveledto the Far East many times,
in fact, had spent months andmonths there. And so I'm getting tips,
right, it's turning around the otherway. I'm getting tips on the
best places in Thailand to go andthings like that. But this is part
of what do you want out ofretirement? And then of course you've got

(34:59):
to have the money in the rightplace, and you got to have the
income to allow you to do thesethings. So obviously our own situation brings
us to realities there. But doyou want to go those things alone or
do you want help to help youget these things in the right place so
you have the best probability of gettingwhat you want out of retirement. Yeah,

(35:22):
and I'm listening to you list thesethings off. It has to be,
folks, more than just a watercooler discussion, because your retirement is
very customer. We have an uncleJoe, right, we sit around the
water cooler, we talk about whento take our social security and what investments
to be in. This is whatwe're talking about is a very customized way

(35:42):
of thinking about what life's going tobe like for you in you're sixty five
to seventy five, what family isgoing to be like. Don't sure change
yourself and make this a water coolerdiscussion, make it customize, and if
you don't have a customized way toapproach the next fifteen twenty thirty years of
your life, call us today atsix oh' eight one to seventy three hundred
and schedule a one hour get toknow you visit, complimentary visit with one

(36:06):
of our advisors to talk about thisand to figure out are you ready to
make that vision be reality? Andyou're not relying on a water cooler discussion
to do that, So call ustoday. I love these visits, Pete.
They're my favorite times when I getto hear stories about let's be real.
Most of the people who are listeninghave been good savers. They deferred
pleasure and they want to and theyhave dreams of retirement. So let's help

(36:30):
make those a reality or see ifwe're the right people to help make those
realities. And so often people putoff right what they could have done earlier,
right, that deferred pleasure, andthey put it off all the way
to retirement. And so if youdon't have a good plan, you know,
I've said recently in our retirement courses, a lot of people, you

(36:50):
know, there's that threat you're goingto run out of money. People are
always afraid they're going to run outof money. Probably most people are not
going to run out of money becausethey'll not spend it's right, right,
they just won't spend it. Andso yes, we end up with a
few bucks in our pocket, andmaybe our net worth looks really good.
But did you live what you werehoping to live and did you accomplish the

(37:12):
reasons why you actually deferred that pleasurein the first place, or did you
stay in that super frugal situation.We're not suggesting you overspend. We're suggesting
you live out those dreams that youplan forever. And if you don't have
a proper plan with the right teamaround you, most of those dreams never

(37:32):
happen. And that's the unfortunate thing. You can die with millions of dollars
in your pocket, but you didif you didn't do anything with it,
well, that just isn't any goodin my opinion. And the last thing
I'm going to add to this isdid you work an extra three four years
because you didn't realize you had thecapacity to retire if you just thought through
this and planned so, did youcheat yourself out of maybe early retirement?

(37:55):
So that's another thing and I foundthat too. So, folks, if
you want to schedule that one hourvisit with us, we prefer it be
in person at our office out inMiddleton, but we can do this via
zoom if you'd like, you needto call us at six oh eight two
one two seventy three hundred, leaveyour name number that you're looking to take
advantage of this time together and capablereach back out to you on Monday to

(38:16):
schedule that over the next week orso. But we look forward to meeting
you and hearing your story and howit is that we can make your retirement
better. Nick. This hour flies, It always flies, it goes,
folks, it is in the books. Another another hour gone. Hopefully it's
been helpful. I know. Weenjoy talking these subjects with you. We

(38:37):
love helping people folks, I hopeyou have a great rest of the weekend
when you're going to have a greatwin from the badge, Old badgers and
folks. This is the Empowered determentradio show, making your retirement dreams come
to life. Investment advisory services offerthrough Trek Capital Management LLC and SEC Registered

(38:58):
Investment advisor. Information presented is foreducational purposes only and it should not be
considered specific. Investment advice. Doesnot take into consideration your specific situation,
and does not intend to make anoffer or solicitation for the sale or purchase
of any securities or investment strategies.Investments involve risk and are not guaranteed,
and past performance is no guarantee offuture results. For specific tax advice on

(39:22):
any strategy, consults with a qualifiedtax professional before implementing any strategy discussed herein