Episode Transcript
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Speaker 1 (00:00):
That means our phone lines are open for you if
you have questions for our retirement planning professionals from Klass
Financial love to have you join us this morning. Phone
number to get on the air six oh eight three
two one thirteen ten. That's six oh eight three two
one thirteen ten. Any questions you have about retirement and
retirement planning.
Speaker 2 (00:18):
CJ.
Speaker 1 (00:18):
Closs and Eric Schwartz are here for you this morning.
Of course you can learn more about Class Financial. They've
got a great website. It's Clossfinancial dot com. That's Closs
Klaasfinancial dot com. There telephone number six oh eight four
four two five six three seven. No charge for that
initial get to know you appointment tech c Loss Financial.
Speaker 2 (00:38):
It will be complimentary to you.
Speaker 1 (00:40):
And again the number to get on the air this
morning six oh eight three two one thirteen ten. That's
six oh eight three two one thirteen ten. As mentioned,
joined this morning by CJ. Closs and Eric Schwartz.
Speaker 2 (00:51):
CJ. How you doing this week?
Speaker 3 (00:53):
I'm doing great. It's been beautiful so far this week.
Speaker 2 (00:55):
It has been a perfect week in Eric.
Speaker 1 (00:57):
I hope you're getting a chance to get out and
enjoy this stuff you doing this morning.
Speaker 4 (01:01):
I am doing great, yes, and enjoying the beautiful weather
it is.
Speaker 1 (01:04):
It is great, although we've got got a chance for
some storms later today.
Speaker 2 (01:07):
We'll keeping an eye on those type of things. And
you're speaking of keeping.
Speaker 1 (01:11):
An eye on things, of course, we all kind of
keep our eye on retirement and looking forward to that
date and like we're ready to go. There's a lot
that goes into it and has noted. It's more than
just flipping a switch and saying I'm retired. We're gonna
get the details from CJ and Eric on all of
that in just a moment. A couple of cool things
about the program, of course, the biggest thing is opportunity
(01:32):
to call in if you've got a question, love to
have you join us. Six eight three two one thirteen ten.
That's six oh eight three two one thirteen ten. Another
cool feature of the program is the Class Quiz Question
the Week. It's your chance to win a fantastic prize
from our friends at Class Financial. This week, chance for
you to win a twenty five dollars gift card to Chewy.
Speaker 2 (01:51):
Pay close attention.
Speaker 1 (01:52):
Oftentimes, the question and answer to the Class Quiz Question
Week come up during each week's program so it's really
a good information and a little extra benefit with that information.
Speaker 2 (02:02):
If you can.
Speaker 1 (02:02):
Retain a little question or answer there, you get a
leg up on everybody else when it comes to the
class quiz question week Before we start talking about getting
into retirement, let's actually look back at last week's show
and get the class quiz question the week and answer
there as well.
Speaker 4 (02:16):
Eric. Yes, So our winner last week was Joel and
Joel knew the correct answer to our question, which was
true or false if you were born between January first,
nineteen fifty one in December thirty first, nineteen fifty nine,
your required minimum distributions will start at age seventy three.
(02:36):
And Joel knew the correct answer which was true.
Speaker 1 (02:39):
Fantastic, great work, Joel. You do can be like Joel.
Chance to win a little later on in the program
with the class Quiz question of the week mentioned the
website classfinancial dot com haven't mentioned yet, it's a great
place to listen back to this in previous shows. The
podcast get posted right after each week's program. Also a
chance to sign up for the weekly market Ball's newsletter.
So today were going to be talking more out more
(03:00):
than just flipping the switch and saying I'm retired. It's
really about being truly ready, and there's a lot that
goes into it. Your mind, your body, your wallet. We're
going to discuss actually the health of your wealth also
for your own self, aren't we CJ.
Speaker 2 (03:16):
We are.
Speaker 3 (03:16):
Yeah. So you know, often people come to financial planners
or retirement planners like us because they're looking for the
quantitative advice as it relates to their retirement. So when
I say quantitative, think the math side of things. Hey,
do I have enough money to live off of for
the rest of my life? When should I draw solid security?
How does medicare work? These are all quantitative questions, but
(03:40):
when you do what we do for a living, not
that we are like formally trained in psychology or anything,
but you end up recognizing there's more to retirement than
just the quantitative. Now, we can't be all things to
all people, but there is a lot to consider here.
So we're going to talk about both of these elements,
both the quantitative and qualitative aspects, or think of it
(04:02):
as the math and the mental health side of retirement.
And twenty twenty five I'll start with some some quantitative
elements here. Twenty twenty five is expected to see the
highest number of Americans reaching the traditional retirement age, with
an estimated four point one to four point two million
(04:22):
people turning sixty five in twenty twenty five. Let me
repeat that, four point one to four point two million
Americans are anticipated to turn sixty five and twenty twenty five,
which is the highest number ever. That translates to around
eleven thousand, three hundred dollars earth, I'm sorry, eleven thy
three hundred Americans per day reaching sixty five in the
(04:47):
year twenty twenty five. That's a lot of birthday cake.
Speaker 2 (04:49):
Sean, Yes, it is, but we hear it all the time.
Speaker 3 (04:53):
You know, people say, am I really ready? So let's
you know, ready to retire? So let's run through through
a retirement readiness checklist to make sure you're all set.
Checklists kind of Number one here is you have to
pick your retirement date and sure, you know, obviously working
longer means you have more savings and bigger Social Security checks.
(05:15):
But it's not all about the money or about the numbers.
Think about your quality of life, your health, and whether
you can keep doing your job. Funny thing is that
people are terrible at predicting their retirement dates. So we
would say to you, life is going to throw you
a lot of curve balls, health issues, layoffs, or just
(05:35):
plain old I don't want to be doing my job anymore.
So we want you to think about the future, but
be flexible because unfortunately, we see a lot of people
set goals, and you know, they'll set those goals that
I want to work to sixty five and then retire
from this one job, and you know a lot of
things happen along the way, or we see the following
(05:58):
cee jy Eric. My goal is just to get to
two million dollars in a net worth and then once
I'm there, I'll be happy. Well, what do you think happens?
They get to the two million dollar net worth and
they go, you know, I just feel like five more
years that would really make me happy, maybe three million.
We call this the goal posts are moving. You know,
imagine being a football kicker and kicking and the goalpost
(06:20):
moves out of the way before it gets there. That's
kind of what it's like to be a retirement planner,
by the way, because it's often hard. We are almost
like hardwired as Americans to want more, more and more.
So part of Our job is to help you think
about the financial and the mental side of retirement and
then help you to keep those goal posts stable so
(06:42):
that you can move towards a secure future.
Speaker 1 (06:44):
Going to be some really good perspectives this week as
we talk with our retirement planning professionals from Class Financial, CG.
Loss In Eric Schwartz, don't forget if you've got a question,
we'd love to have you join us this morning. Telphen,
i'mber to get on the air six eight three two
one thirteen ten. That's six oh eight three two one
thirteen ten. You can learn more about Loss Financial on
their website Class financial dot com. That's Class k l
(07:05):
a A S Financial dot com. Telephonomer for the office
right here in Madison six o eight four four two
five six three seven. So, Eric, how important is it
to figure out how much money you actually need?
Speaker 3 (07:19):
Well?
Speaker 4 (07:19):
I would say that that's the million dollar question here
and probably the thing we struggle CG would probably agree
the thing we struggle the most with and working with
clients is helping them figure out how much they actually
need in retirement. I don't know how many times I've
had clients, you know, especially new clients come to me
and say, well, I don't have a I don't have
a budget. I just know I don't spend more than
I make. I was like, well, that's a good spot
(07:41):
to start, right, And so as people get close to retirement,
it can feel kind of foreign to begin creating a
line by line budget, but that's often what we what
we need to do, not not that we need to be,
you know, tracking we're We're not here to be checking
where you spend your money and scolding you, but just
understanding where your money is going so that we can
(08:02):
make some plans going forward. Sometimes people will look at
it as maybe I'll get a you know, if I
have eighty percent of my income my pre retirement income,
I'll be in good shape. But the fact is some
people need ninety percent, some people need one hundred percent.
Just depends on what you want to do in retirement.
You know, if you want to travel more, right, you're
(08:23):
going to hopefully have some more time than when you
were working. So if you want to be traveling more,
maybe a plan to downsize your home right, maybe moving
to a cheaper area. All of these things are going
to impact impact how much money you're going to need
on a regular basis in retirement. So I think the
most important thing is create kind of an initial understanding
(08:48):
of what you're spending while you're working, and that is
a really good jumping off point to begin looking at retirement.
And don't forget about your healthcare expenses. Okay, so you're
moving from likely having employer provided health insurance to maybe
you're moving on to Medicare Part B and and you
(09:10):
need to be thinking about deductibles and maybe even a
Medicare Part D plan for for your drug coverage. All
of these things are going to add up. And remembering
your spend, your spending is not fixed. Okay, So we
see this all the time. A lot of times people
will will spend quite a bit more early in retirement
(09:30):
and then kind of settle into a slower pace of
life as they age. So so don't be as CJ
said earlier, be flexible about these things and don't get
don't get too wrapped up in, you know, making things
super exact. But we I would say, more often than not,
we see retirees spending more than they expected to pre retirement.
Speaker 1 (09:55):
That's interesting perspectives this morning, that is for sure. As
we talked with Eric Schwartz and CJ. Claw of course,
our retirement planic professionals from COSS Financial. The website coss
financial dot com. That's coss k l aas Financial dot com.
Great website and resource to learn more about everyone at
COSS Financial of course, also different divisions of cost financial
how they can help you or if you're an employer
(10:16):
as well. Also an opportunity at class financial dot com
to sign up for the weekly Market Pulse newsletter that
available to you at COSS Financial. Their telephone number six
oh eight four four two five six three seven. No
charge for that initial get to know you appointment at
Coss Financial. It will be complimentary to you again their
number six oh eight four four two five six three seven.
We'll continue our conversation with Eric and CJ. We'll talk
(10:38):
about some some income sources. Also, it's kind of the
importance of taking care of your health. Yeah, that's a
vital part of enjoying retirement. We'll get the details from
cgen Eric. We will do that next as Money in
Motion continues right here on thirteen ten wib A chatting
(11:06):
this week with CJ. Class At Eric Schwartz. Of course,
they are our retirement planning professionals, and they come to
us from Class Financial the website class financial dot com.
That's Class k l AA Sfinancial dot com. Dee for
what number six oh eight four four two five six
three seven. Don't forget no charge for that initial get
to know your appointment tech loss Financial. It will be
(11:27):
complementary to you again their number six oh eight four
four two five six three seven talking about getting prepared
for retirement. And there's many things to think about when
it comes to retirement preparation. Obviously, financial aspects are very important.
They always say money makes the world go round, and
it's it's an important conversation and question I think for
a lot of folks, kind of thing that they focus
(11:48):
in on when it comes to retirement. And just before
the we went to break there, Eric had mentioned that
that retirees often will spend more than expected, especially early on.
So let's talk about some income sources and making sure
that you don't run out of money CJ.
Speaker 3 (12:07):
Yeah, exactly, Sean. So we're kind of going through a
retirement readiness checklist here today and going through a number
of different elements and I'm going to now talk about
income streams. But Eric is correct, I mean We often
find that early on in retirement is when you finally
have the time, You're at home, and you're seeing all
(12:27):
the problems with the house, right Like, Okay, finally I
have the time, maybe the resources, and I'm sitting around
my house and I'm seeing all the things that annoy me.
And so often we see this kind of spike in
early spending. Now Eric will attest that actually levels out
quite a bit later on in retirement. We will even
see a reduction in spending later on in life, although
(12:50):
Fay I typically at the very end of life there's
a spike, but that's because of you know, nursing, home
expenses on and so forth. So here's one thing I
want everybody to think about. Here's the blessing Thatck and
I have in doing what we do. We get to
retire thousands of times with our clients. That might sound odd,
but let me repeat that. We get to retire thousands
(13:10):
of times with our clients. We have people who are
pre retirement, entering retirement, have been in retirement for five years,
ten years, twenty years, and are ending retirement and life.
Why does that matter? Because for Eric and I, this
is not a concept planning for retirement is not a concept.
We live it and breathe it every single day. We
(13:31):
get to see what plans worked, what plans did not work.
We get to see behavioral biases, investment biases, risk biases,
and why this matters, because my goodness, we get this
really really deep understanding of all the elements that impact
your ability to be retired, stay retired, and live happy
(13:52):
in retirement. Okay, without rambling out of the way, let's
talk about these income streams. So obviously there there's income
streams you need to think about in retirement. Number one
for Americans would be Social Security. How much is that?
When should you draw it? There's pensions, pensions for think
of our state of Wisconsin employees the Department of Employee
Trust funds pension. There's part time work, so we have
(14:15):
a lot of people who, whether they need the money
or not, just want to stay active in retirement. And
then you know, you need to think about these elements
of do I take soci Security at sixty two or
my FRA or do I wait till seventy? And I
heard that my spouse gets something off of my Social
Security benefit if they don't have enough, And there's a
lot to consider here. And then, of course, for the
(14:36):
State of Wisconsin employees, do you know what pension claim
option do I take? Eric? Do I take the single life?
Do I take the the one hundred percent contingent, the
fifty percent contingent, the ten year guaranteed. There's all these
different claiming options and you need to understand the math
behind it to make a good decision. And then obviously
(14:59):
a good financial advisor, good retirement planner can help in
in making these decisions because remember, most of these decisions
become irrevocable within about you know, two to three months
after you make them, so it's pretty important that you
think about them carefully. And then, of course the big
one that we get it very very involved in is
(15:21):
will my like portfolio? So what we call your net
worth spending? Will your net worth spending last you the
rest of your life? Said another way, do I have
enough money saved and set aside to not run out?
And everybody, if I can give you any insights on this,
it is a lot more complicated than you actually think.
(15:44):
Because we have people who have been blessed to work
for the State of Wisconsin, who have great social security incomes,
who get to retirement and they come into our office
and they say, do I have enough? I don't think
I've saved enough. And Eric and I run the math
and we go, you don't need your investments at all.
Your pensions in social Security are one hundred and twenty
(16:04):
percent of what you spend per year. So not only
have you saved enough, you've way over saved. You see
my point? And then we see the opposite where people
come in and they go, I'm good, I'm good. I've
got a pension in Social Security. I'm not worried about it.
And we go, yeah, but that's like fifty percent of
your need. The rest is going to have to come
from your net worth, and you haven't saved enough. You
(16:25):
get the idea. It is way more complicated. And the
reason it's more complicated because it's not a dollar amount.
You all remember those commercials that would come on in
the TV like what's your number? I think it was
from Voya. People would be walking around the streets with
a number of how much they needed to save. What
I'd say to you is that can be really tricky,
really really tricky to focus on a number. I'm not
(16:48):
saying it doesn't have a purpose. I'm just saying it's
tricky because one person might need zero saved because they've
got so much in pensions in social security, and another
person might need eight million and they could be living
the exact same lifestyle. But it just depends on these
guaranteed income sources. Now I do realize we're on the radio.
I might be confusing some people. I would just encourage
(17:11):
you planning for retirement. Knowing how much you need to
save is a lot more complicated than just a number
you walk around with.
Speaker 1 (17:18):
And that's as as we talk each week with a
Retirement Planet professionals from Coss Financial. That's one of the
great things about Coss Financial is starting that conversation to.
Speaker 2 (17:26):
Make it really easy to do.
Speaker 1 (17:28):
All I got to just pick up phone, gave a
call six soh eight four four two five six three seven.
Don't forget that initial gets no appoyment. That conversation is
not going to cost you a thing. Their tel for
number six O eight four four two five six three seven.
The website cossfinancial dot com. That's Coss k l aa
S financial dot com.
Speaker 2 (17:45):
I know we have to talk about it.
Speaker 1 (17:47):
It's one of those things that I think there's inevitable.
But taxes, let's talk about taxes and the effect that
they can have on your on your retirement income.
Speaker 4 (17:56):
That's that's absolutely true, Sean, It's it's always going to
be the So for for just let's do just a
quick kind of rundown of tax related items we want
we want to be thinking about as it relates to
the retirement checklist here. So for for a lot of folks,
as they move into retirement, they'll have different what we
would call like tax buckets, so different basically thinking of
(18:20):
your your investments or your savings based on how they
will be taxed. So, for example, you could have tax
deferred dollars, right, these are probably the most common retirement
assets where you've you've contributed funds before tax and they've
grown tax deferred. So that went so that when you
draw the dollars out there fully taxable to you, you
(18:44):
may then also have taxable or we might even call
these non retirement accounts. So I mean, you could be
thinking of something as simple as a savings account, an
investment account, but dollars that are maybe mostly already taxed,
but you know, maybe there's some interest income or some
some unrealized capital gains, so more tax efficient than the
(19:07):
tax deferred assets, but still not fully tax free. And
then finally we would have our WROTH assets. And listeners
have heard us talk about these different types before, but
WROTH dollars are dollars you've put in after taxes and
then the benefit of that is they grow tax free.
So distributions from WROTH accounts would be would be fully
(19:28):
tax free. Now why why am I explaining these Because
it matters which order in which combination of these different
tax buckets you use to create income. Right, because if
we're in retirement, we're looking at for some well for
a lot of folks, I guess you could say, hopefully
(19:50):
they're a lower tax bracket than when they were working,
and we have more flexibility because we're not. We're not.
It's not a matter of okay, you get paid your
your salary, and that's that we get to decide when
and where you draw from each of these types of accounts.
So you can imagine, if you're taking all of your
income from the tax deferred bucket, well, you're probably going
(20:12):
to be in a higher tax bracket than if, for example,
you did maybe a combination of tax deferred and maybe
some distributions from non retirement accounts. So you want to
think about, you know, how you're going to be what
what order, and what combination of these you're going to
be using to create your income. And you also want
to think about how you're investing your dollars in each
(20:36):
of those three different buckets, because if, for example, you
are you're not planning to use your WROTH dollars for
a while, you might invest those more aggressively because they
have a longer time horizon and they grow tax free.
So we'd love to we'd love to concentrate some growth
in those in those WROTH buckets, and we want to
(20:56):
bring this into the discussion about the order in which
you're drawing dollars out of these accounts. You're also going
to need to think about required minimum distributions, so we
talked about that quite a bit last week. You're going
to be wanting to think about how your your taxable
income impacts your Medicare premiums, because if your income exceeds
(21:17):
certain thresholds, you can actually pay it temporarily higher Medicare premiums.
And you want to you want to think about uh,
your taxable income as it relates to how much of
your Social Security benefits gets gets taxed, because the amount
of your Social Security tax or your Social Security benefit
(21:37):
that gets taxed at the federal level is a function
of your of of your total income that you're earning
throughout the year. So these are a lot of things
to juggle. As always be encouraged folks to to seek
out professional advice because in many cases we do. We
do think it's absolutely worth it. And the last thing
(21:59):
I'll say here on the tax management side is if
you are retiring early, that's an opportunity for you to
consider some what we might call it a more advanced
tax strategy like WROTH conversions, which involves moving dollars from
your tax deferred bucket to your WROTH bucket earlier on
(22:20):
so that you can you can reduce those required minimum
distributions later and increase your tax free growth bucket. So
I would say that's kind of a really high level
rundown of what we're looking at on the tax management side.
And then just some kind of final checklist items here.
(22:41):
If you're retiring before sixty five, we've talked on the
show before Medicare starts at sixty five prior to that
if you are if you are retired, we need to
be thinking about getting health insurance for you and or
your spouse and maybe even some children that are not
adults yet. So we need to be thinking about where
you're going to get health insurance, whether that's you know,
(23:02):
Cobra or through the health insurance exchange, or maybe your
employer offers some type of benefit, so that it's something
to think about. We want to think about eliminating debt
as much as possible by the time you get to retirement.
The less debt you have, the lower your monthly expenses
and the less income you need to create to fund
(23:23):
your lifestyle. And we want to be thinking about making
sure our estate plans are up to date and in order.
And finally, we want to make sure that we've fully
funded that emergency fund prior to retirement.
Speaker 1 (23:35):
A lot of items there and of course very important
items that you want to make sure that you're working
through each of them. And of course we talk with
the retirement planning professionals from Class Financial. They'd love to
talk to you, they'd love to work with you, and
they make it real easy to do. All I got
to just pick a phone, gimme a call six oh
eight four four two five six three seven. No charge
for that. Initial'll get to know you appointment ach Coss Financial.
It will be complimentary to you. Again, they're telephone number
(23:57):
six oh eight four four two five six three seven.
We'll do the class quiz question leak. We'll also talk
about the importance of health in retirement. We'll get those
details next. As Money in Motion with Class Financial continues
right here. I'm thirteen ten WIVA talking with our retirement
(24:19):
planning professionals CJ. Closs and Eric Schwartz. Of course they
come to us from Class Financial, the website colss financial
dot com. That's Class k l aas financial dot com.
Talking this week about really getting ready and preparing for
retirement to things think about not just your wallet, but
also your mind and body, and that brings us uh,
that kind of the the we got through the financial part,
(24:41):
let's talk about the importance of taking care of our
health as well.
Speaker 2 (24:45):
CJ.
Speaker 3 (24:47):
Yeah, exactly, Sean. So it's easy to get caught up
in the numbers, but your health is your greatest asset.
So think of it this way. Your financial wealth and
your physical health are like two sides of the same coin.
You can't truly enjoy one without the other. So again
people come to us for the quantitative side of retirement planning,
(25:07):
and by the way, that is certainly very important. You
would hate to rush into retirement focusing only on the
health side of things, only to find out that you
don't have any money to live off of. But they
are the same coin. You have to flip those sides
over and recognize if I've got all the money in
the world but no ability to use it or enjoy it,
(25:28):
then it doesn't do you a lot of good. So
think of health as a foundation. Imagine having a perfectly
crafted retirement plan, but you're constantly battling health issues. That
is again not the retirement retirement dreams that you probably
had early on. And just like you wouldn't want to
build a house on a shaky foundation, you do not
(25:48):
want to build your retirement on shaky health. So start
thinking about simple things like am I actually working my
body out so that when I get to retire minute
sixty five or sixty seven or sixty two, whatever it
might be, that I will have the physical health to
go travel, to do the things that I want to do,
(26:09):
to play with my grandchildren, whatever it might be. So
some proactive health habits to think about as again, developing
a good diet, running exercise, scheduling checkups, and screening with
your doctor for early detection in case you do have
any issues going on. And then even mental health awareness,
so not only just kind of working with counselors as
(26:32):
you need to, but beyond that is also actually exercising
your mind. One thing that Eric and I see happen
as people retire, if they don't retire to something, is
that often their mind really slows down. Now this can
be actually cognit you diagnosed cognitive decline, but it's not
always that. Sometimes it's just I'll call it mental laziness
(26:56):
where you're not having to think critically about things anymore.
It's for a good reason. Many times people are tired
of having you think critically, so they get to retirement
and they just want to slow down. But that slow
down can cause your brain to actually lose some of
its stimulus and struggle to recall information or to even
be engaged. So you know, think of health as a
(27:19):
lifestyle and aligning your health and wealth are are really
important factors to consider.
Speaker 2 (27:24):
Talking this morning with CJ. Closs, and Eric Schwartz.
Speaker 1 (27:26):
They are our retirement planning professionals from Class Financial.
Speaker 2 (27:30):
Great program.
Speaker 1 (27:30):
As always, if you missed any part of the show,
don't forget, can listen back class Financial dot com.
Speaker 2 (27:35):
That's COSS k l a A S.
Speaker 1 (27:37):
Financial dot com. Del for number six oh eight four
four two five six three seven.
Speaker 2 (27:41):
Don't forget.
Speaker 1 (27:42):
No charge for that initial get to know your appointment
at COSS Financial. It will be complimentary to you again
their number six oh eight four four two five six
three seven. You want to hold on to that telephone
number as well. It's time now for the Coss Quiz
Question of the Week. Works like this. In just a moment,
I'll ask you the class Quiz question of the week.
You'll then have thirty minutes from the ener today's program
to call the Claws Financial office right here in Madison
at six oh eight four four two five six three seven.
(28:05):
If you are the first call with the correct answer,
you'll win this week's prize, which is a twenty five
dollars gift card to Chewy. This week's class Quiz question
of the week is this true or false? In twenty
twenty five, we will see the highest number of Americans
reaching the traditional retirement age of sixty five. Is that
true or is that false? Telephone number six oh eight
(28:26):
four four two five six three seven, first call, correct answer,
win the twenty five dollars gift card to Chewy. And
again that's Class Financial office right here in Madison, CJ.
Speaker 2 (28:35):
Eric.
Speaker 1 (28:35):
It's always great chatting with both of you guys. You
enjoy this beautiful weather and looking forward to uh, looking
forward to the great summer and seasons ahead.
Speaker 2 (28:43):
So you guys to have a great day.
Speaker 4 (28:45):
Thanks Sean, Thanks Sean.
Speaker 1 (28:46):
Take care guys. Doctor Marty Greer comes your way next year.
On thirteen ten WIVA, This is Money in Motion with
COSS Financial Asset Advisors, LLC, a registered investment advisor registered
with the SEC. The contents of this show are for
informational purposes only and should not be considered individual investment advice.
Class Financial does not offer tax or legal advice. Any
(29:08):
opinion offered during the course of this show is the
opinion of that particular investment advisor representative and not necessarily
the opinion of Class Financial. News comes your way next
right here. On thirteen ten, WIBA
That means our phone lines are open for you if
you have questions for our retirement planning professionals from Klass
Financial love to have you join us this morning. Phone
number to get on the air six oh eight three
two one thirteen ten. That's six oh eight three two
one thirteen ten. Any questions you have about retirement and
retirement planning.
Speaker 2 (00:18):
CJ.
Speaker 1 (00:18):
Closs and Eric Schwartz are here for you this morning.
Of course you can learn more about Class Financial. They've
got a great website. It's Clossfinancial dot com. That's Closs
Klaasfinancial dot com. There telephone number six oh eight four
four two five six three seven. No charge for that
initial get to know you appointment tech c Loss Financial.
Speaker 2 (00:38):
It will be complimentary to you.
Speaker 1 (00:40):
And again the number to get on the air this
morning six oh eight three two one thirteen ten. That's
six oh eight three two one thirteen ten. As mentioned,
joined this morning by CJ. Closs and Eric Schwartz.
Speaker 2 (00:51):
CJ. How you doing this week?
Speaker 3 (00:53):
I'm doing great. It's been beautiful so far this week.
Speaker 2 (00:55):
It has been a perfect week in Eric.
Speaker 1 (00:57):
I hope you're getting a chance to get out and
enjoy this stuff you doing this morning.
Speaker 4 (01:01):
I am doing great, yes, and enjoying the beautiful weather
it is.
Speaker 1 (01:04):
It is great, although we've got got a chance for
some storms later today.
Speaker 2 (01:07):
We'll keeping an eye on those type of things. And
you're speaking of keeping.
Speaker 1 (01:11):
An eye on things, of course, we all kind of
keep our eye on retirement and looking forward to that
date and like we're ready to go. There's a lot
that goes into it and has noted. It's more than
just flipping a switch and saying I'm retired. We're gonna
get the details from CJ and Eric on all of
that in just a moment. A couple of cool things
about the program, of course, the biggest thing is opportunity
(01:32):
to call in if you've got a question, love to
have you join us. Six eight three two one thirteen ten.
That's six oh eight three two one thirteen ten. Another
cool feature of the program is the Class Quiz Question
the Week. It's your chance to win a fantastic prize
from our friends at Class Financial. This week, chance for
you to win a twenty five dollars gift card to Chewy.
Speaker 2 (01:51):
Pay close attention.
Speaker 1 (01:52):
Oftentimes, the question and answer to the Class Quiz Question
Week come up during each week's program so it's really
a good information and a little extra benefit with that information.
Speaker 2 (02:02):
If you can.
Speaker 1 (02:02):
Retain a little question or answer there, you get a
leg up on everybody else when it comes to the
class quiz question week Before we start talking about getting
into retirement, let's actually look back at last week's show
and get the class quiz question the week and answer
there as well.
Speaker 4 (02:16):
Eric. Yes, So our winner last week was Joel and
Joel knew the correct answer to our question, which was
true or false if you were born between January first,
nineteen fifty one in December thirty first, nineteen fifty nine,
your required minimum distributions will start at age seventy three.
(02:36):
And Joel knew the correct answer which was true.
Speaker 1 (02:39):
Fantastic, great work, Joel. You do can be like Joel.
Chance to win a little later on in the program
with the class Quiz question of the week mentioned the
website classfinancial dot com haven't mentioned yet, it's a great
place to listen back to this in previous shows. The
podcast get posted right after each week's program. Also a
chance to sign up for the weekly market Ball's newsletter.
So today were going to be talking more out more
(03:00):
than just flipping the switch and saying I'm retired. It's
really about being truly ready, and there's a lot that
goes into it. Your mind, your body, your wallet. We're
going to discuss actually the health of your wealth also
for your own self, aren't we CJ.
Speaker 2 (03:16):
We are.
Speaker 3 (03:16):
Yeah. So you know, often people come to financial planners
or retirement planners like us because they're looking for the
quantitative advice as it relates to their retirement. So when
I say quantitative, think the math side of things. Hey,
do I have enough money to live off of for
the rest of my life? When should I draw solid security?
How does medicare work? These are all quantitative questions, but
(03:40):
when you do what we do for a living, not
that we are like formally trained in psychology or anything,
but you end up recognizing there's more to retirement than
just the quantitative. Now, we can't be all things to
all people, but there is a lot to consider here.
So we're going to talk about both of these elements,
both the quantitative and qualitative aspects, or think of it
(04:02):
as the math and the mental health side of retirement.
And twenty twenty five I'll start with some some quantitative
elements here. Twenty twenty five is expected to see the
highest number of Americans reaching the traditional retirement age, with
an estimated four point one to four point two million
(04:22):
people turning sixty five in twenty twenty five. Let me
repeat that, four point one to four point two million
Americans are anticipated to turn sixty five and twenty twenty five,
which is the highest number ever. That translates to around
eleven thousand, three hundred dollars earth, I'm sorry, eleven thy
three hundred Americans per day reaching sixty five in the
(04:47):
year twenty twenty five. That's a lot of birthday cake.
Speaker 2 (04:49):
Sean, Yes, it is, but we hear it all the time.
Speaker 3 (04:53):
You know, people say, am I really ready? So let's
you know, ready to retire? So let's run through through
a retirement readiness checklist to make sure you're all set.
Checklists kind of Number one here is you have to
pick your retirement date and sure, you know, obviously working
longer means you have more savings and bigger Social Security checks.
(05:15):
But it's not all about the money or about the numbers.
Think about your quality of life, your health, and whether
you can keep doing your job. Funny thing is that
people are terrible at predicting their retirement dates. So we
would say to you, life is going to throw you
a lot of curve balls, health issues, layoffs, or just
(05:35):
plain old I don't want to be doing my job anymore.
So we want you to think about the future, but
be flexible because unfortunately, we see a lot of people
set goals, and you know, they'll set those goals that
I want to work to sixty five and then retire
from this one job, and you know a lot of
things happen along the way, or we see the following
(05:58):
cee jy Eric. My goal is just to get to
two million dollars in a net worth and then once
I'm there, I'll be happy. Well, what do you think happens?
They get to the two million dollar net worth and
they go, you know, I just feel like five more
years that would really make me happy, maybe three million.
We call this the goal posts are moving. You know,
imagine being a football kicker and kicking and the goalpost
(06:20):
moves out of the way before it gets there. That's
kind of what it's like to be a retirement planner,
by the way, because it's often hard. We are almost
like hardwired as Americans to want more, more and more.
So part of Our job is to help you think
about the financial and the mental side of retirement and
then help you to keep those goal posts stable so
(06:42):
that you can move towards a secure future.
Speaker 1 (06:44):
Going to be some really good perspectives this week as
we talk with our retirement planning professionals from Class Financial, CG.
Loss In Eric Schwartz, don't forget if you've got a question,
we'd love to have you join us this morning. Telphen,
i'mber to get on the air six eight three two
one thirteen ten. That's six oh eight three two one
thirteen ten. You can learn more about Loss Financial on
their website Class financial dot com. That's Class k l
(07:05):
a A S Financial dot com. Telephonomer for the office
right here in Madison six o eight four four two
five six three seven. So, Eric, how important is it
to figure out how much money you actually need?
Speaker 3 (07:19):
Well?
Speaker 4 (07:19):
I would say that that's the million dollar question here
and probably the thing we struggle CG would probably agree
the thing we struggle the most with and working with
clients is helping them figure out how much they actually
need in retirement. I don't know how many times I've
had clients, you know, especially new clients come to me
and say, well, I don't have a I don't have
a budget. I just know I don't spend more than
I make. I was like, well, that's a good spot
(07:41):
to start, right, And so as people get close to retirement,
it can feel kind of foreign to begin creating a
line by line budget, but that's often what we what
we need to do, not not that we need to be,
you know, tracking we're We're not here to be checking
where you spend your money and scolding you, but just
understanding where your money is going so that we can
(08:02):
make some plans going forward. Sometimes people will look at
it as maybe I'll get a you know, if I
have eighty percent of my income my pre retirement income,
I'll be in good shape. But the fact is some
people need ninety percent, some people need one hundred percent.
Just depends on what you want to do in retirement.
You know, if you want to travel more, right, you're
(08:23):
going to hopefully have some more time than when you
were working. So if you want to be traveling more,
maybe a plan to downsize your home right, maybe moving
to a cheaper area. All of these things are going
to impact impact how much money you're going to need
on a regular basis in retirement. So I think the
most important thing is create kind of an initial understanding
(08:48):
of what you're spending while you're working, and that is
a really good jumping off point to begin looking at retirement.
And don't forget about your healthcare expenses. Okay, so you're
moving from likely having employer provided health insurance to maybe
you're moving on to Medicare Part B and and you
(09:10):
need to be thinking about deductibles and maybe even a
Medicare Part D plan for for your drug coverage. All
of these things are going to add up. And remembering
your spend, your spending is not fixed. Okay, So we
see this all the time. A lot of times people
will will spend quite a bit more early in retirement
(09:30):
and then kind of settle into a slower pace of
life as they age. So so don't be as CJ
said earlier, be flexible about these things and don't get
don't get too wrapped up in, you know, making things
super exact. But we I would say, more often than not,
we see retirees spending more than they expected to pre retirement.
Speaker 1 (09:55):
That's interesting perspectives this morning, that is for sure. As
we talked with Eric Schwartz and CJ. Claw of course,
our retirement planic professionals from COSS Financial. The website coss
financial dot com. That's coss k l aas Financial dot com.
Great website and resource to learn more about everyone at
COSS Financial of course, also different divisions of cost financial
how they can help you or if you're an employer
(10:16):
as well. Also an opportunity at class financial dot com
to sign up for the weekly Market Pulse newsletter that
available to you at COSS Financial. Their telephone number six
oh eight four four two five six three seven. No
charge for that initial get to know you appointment at
Coss Financial. It will be complimentary to you again their
number six oh eight four four two five six three seven.
We'll continue our conversation with Eric and CJ. We'll talk
(10:38):
about some some income sources. Also, it's kind of the
importance of taking care of your health. Yeah, that's a
vital part of enjoying retirement. We'll get the details from
cgen Eric. We will do that next as Money in
Motion continues right here on thirteen ten wib A chatting
(11:06):
this week with CJ. Class At Eric Schwartz. Of course,
they are our retirement planning professionals, and they come to
us from Class Financial the website class financial dot com.
That's Class k l AA Sfinancial dot com. Dee for
what number six oh eight four four two five six
three seven. Don't forget no charge for that initial get
to know your appointment tech loss Financial. It will be
(11:27):
complementary to you again their number six oh eight four
four two five six three seven talking about getting prepared
for retirement. And there's many things to think about when
it comes to retirement preparation. Obviously, financial aspects are very important.
They always say money makes the world go round, and
it's it's an important conversation and question I think for
a lot of folks, kind of thing that they focus
(11:48):
in on when it comes to retirement. And just before
the we went to break there, Eric had mentioned that
that retirees often will spend more than expected, especially early on.
So let's talk about some income sources and making sure
that you don't run out of money CJ.
Speaker 3 (12:07):
Yeah, exactly, Sean. So we're kind of going through a
retirement readiness checklist here today and going through a number
of different elements and I'm going to now talk about
income streams. But Eric is correct, I mean We often
find that early on in retirement is when you finally
have the time, You're at home, and you're seeing all
(12:27):
the problems with the house, right Like, Okay, finally I
have the time, maybe the resources, and I'm sitting around
my house and I'm seeing all the things that annoy me.
And so often we see this kind of spike in
early spending. Now Eric will attest that actually levels out
quite a bit later on in retirement. We will even
see a reduction in spending later on in life, although
(12:50):
Fay I typically at the very end of life there's
a spike, but that's because of you know, nursing, home
expenses on and so forth. So here's one thing I
want everybody to think about. Here's the blessing Thatck and
I have in doing what we do. We get to
retire thousands of times with our clients. That might sound odd,
but let me repeat that. We get to retire thousands
(13:10):
of times with our clients. We have people who are
pre retirement, entering retirement, have been in retirement for five years,
ten years, twenty years, and are ending retirement and life.
Why does that matter? Because for Eric and I, this
is not a concept planning for retirement is not a concept.
We live it and breathe it every single day. We
(13:31):
get to see what plans worked, what plans did not work.
We get to see behavioral biases, investment biases, risk biases,
and why this matters, because my goodness, we get this
really really deep understanding of all the elements that impact
your ability to be retired, stay retired, and live happy
(13:52):
in retirement. Okay, without rambling out of the way, let's
talk about these income streams. So obviously there there's income
streams you need to think about in retirement. Number one
for Americans would be Social Security. How much is that?
When should you draw it? There's pensions, pensions for think
of our state of Wisconsin employees the Department of Employee
Trust funds pension. There's part time work, so we have
(14:15):
a lot of people who, whether they need the money
or not, just want to stay active in retirement. And
then you know, you need to think about these elements
of do I take soci Security at sixty two or
my FRA or do I wait till seventy? And I
heard that my spouse gets something off of my Social
Security benefit if they don't have enough, And there's a
lot to consider here. And then, of course, for the
(14:36):
State of Wisconsin employees, do you know what pension claim
option do I take? Eric? Do I take the single life?
Do I take the the one hundred percent contingent, the
fifty percent contingent, the ten year guaranteed. There's all these
different claiming options and you need to understand the math
behind it to make a good decision. And then obviously
(14:59):
a good financial advisor, good retirement planner can help in
in making these decisions because remember, most of these decisions
become irrevocable within about you know, two to three months
after you make them, so it's pretty important that you
think about them carefully. And then, of course the big
one that we get it very very involved in is
(15:21):
will my like portfolio? So what we call your net
worth spending? Will your net worth spending last you the
rest of your life? Said another way, do I have
enough money saved and set aside to not run out?
And everybody, if I can give you any insights on this,
it is a lot more complicated than you actually think.
(15:44):
Because we have people who have been blessed to work
for the State of Wisconsin, who have great social security incomes,
who get to retirement and they come into our office
and they say, do I have enough? I don't think
I've saved enough. And Eric and I run the math
and we go, you don't need your investments at all.
Your pensions in social Security are one hundred and twenty
(16:04):
percent of what you spend per year. So not only
have you saved enough, you've way over saved. You see
my point? And then we see the opposite where people
come in and they go, I'm good, I'm good. I've
got a pension in Social Security. I'm not worried about it.
And we go, yeah, but that's like fifty percent of
your need. The rest is going to have to come
from your net worth, and you haven't saved enough. You
(16:25):
get the idea. It is way more complicated. And the
reason it's more complicated because it's not a dollar amount.
You all remember those commercials that would come on in
the TV like what's your number? I think it was
from Voya. People would be walking around the streets with
a number of how much they needed to save. What
I'd say to you is that can be really tricky,
really really tricky to focus on a number. I'm not
(16:48):
saying it doesn't have a purpose. I'm just saying it's
tricky because one person might need zero saved because they've
got so much in pensions in social security, and another
person might need eight million and they could be living
the exact same lifestyle. But it just depends on these
guaranteed income sources. Now I do realize we're on the radio.
I might be confusing some people. I would just encourage
(17:11):
you planning for retirement. Knowing how much you need to
save is a lot more complicated than just a number
you walk around with.
Speaker 1 (17:18):
And that's as as we talk each week with a
Retirement Planet professionals from Coss Financial. That's one of the
great things about Coss Financial is starting that conversation to.
Speaker 2 (17:26):
Make it really easy to do.
Speaker 1 (17:28):
All I got to just pick up phone, gave a
call six soh eight four four two five six three seven.
Don't forget that initial gets no appoyment. That conversation is
not going to cost you a thing. Their tel for
number six O eight four four two five six three seven.
The website cossfinancial dot com. That's Coss k l aa
S financial dot com.
Speaker 2 (17:45):
I know we have to talk about it.
Speaker 1 (17:47):
It's one of those things that I think there's inevitable.
But taxes, let's talk about taxes and the effect that
they can have on your on your retirement income.
Speaker 4 (17:56):
That's that's absolutely true, Sean, It's it's always going to
be the So for for just let's do just a
quick kind of rundown of tax related items we want
we want to be thinking about as it relates to
the retirement checklist here. So for for a lot of folks,
as they move into retirement, they'll have different what we
would call like tax buckets, so different basically thinking of
(18:20):
your your investments or your savings based on how they
will be taxed. So, for example, you could have tax
deferred dollars, right, these are probably the most common retirement
assets where you've you've contributed funds before tax and they've
grown tax deferred. So that went so that when you
draw the dollars out there fully taxable to you, you
(18:44):
may then also have taxable or we might even call
these non retirement accounts. So I mean, you could be
thinking of something as simple as a savings account, an
investment account, but dollars that are maybe mostly already taxed,
but you know, maybe there's some interest income or some
some unrealized capital gains, so more tax efficient than the
(19:07):
tax deferred assets, but still not fully tax free. And
then finally we would have our WROTH assets. And listeners
have heard us talk about these different types before, but
WROTH dollars are dollars you've put in after taxes and
then the benefit of that is they grow tax free.
So distributions from WROTH accounts would be would be fully
(19:28):
tax free. Now why why am I explaining these Because
it matters which order in which combination of these different
tax buckets you use to create income. Right, because if
we're in retirement, we're looking at for some well for
a lot of folks, I guess you could say, hopefully
(19:50):
they're a lower tax bracket than when they were working,
and we have more flexibility because we're not. We're not.
It's not a matter of okay, you get paid your
your salary, and that's that we get to decide when
and where you draw from each of these types of accounts.
So you can imagine, if you're taking all of your
income from the tax deferred bucket, well, you're probably going
(20:12):
to be in a higher tax bracket than if, for example,
you did maybe a combination of tax deferred and maybe
some distributions from non retirement accounts. So you want to
think about, you know, how you're going to be what
what order, and what combination of these you're going to
be using to create your income. And you also want
to think about how you're investing your dollars in each
(20:36):
of those three different buckets, because if, for example, you
are you're not planning to use your WROTH dollars for
a while, you might invest those more aggressively because they
have a longer time horizon and they grow tax free.
So we'd love to we'd love to concentrate some growth
in those in those WROTH buckets, and we want to
(20:56):
bring this into the discussion about the order in which
you're drawing dollars out of these accounts. You're also going
to need to think about required minimum distributions, so we
talked about that quite a bit last week. You're going
to be wanting to think about how your your taxable
income impacts your Medicare premiums, because if your income exceeds
(21:17):
certain thresholds, you can actually pay it temporarily higher Medicare premiums.
And you want to you want to think about uh,
your taxable income as it relates to how much of
your Social Security benefits gets gets taxed, because the amount
of your Social Security tax or your Social Security benefit
(21:37):
that gets taxed at the federal level is a function
of your of of your total income that you're earning
throughout the year. So these are a lot of things
to juggle. As always be encouraged folks to to seek
out professional advice because in many cases we do. We
do think it's absolutely worth it. And the last thing
(21:59):
I'll say here on the tax management side is if
you are retiring early, that's an opportunity for you to
consider some what we might call it a more advanced
tax strategy like WROTH conversions, which involves moving dollars from
your tax deferred bucket to your WROTH bucket earlier on
(22:20):
so that you can you can reduce those required minimum
distributions later and increase your tax free growth bucket. So
I would say that's kind of a really high level
rundown of what we're looking at on the tax management side.
And then just some kind of final checklist items here.
(22:41):
If you're retiring before sixty five, we've talked on the
show before Medicare starts at sixty five prior to that
if you are if you are retired, we need to
be thinking about getting health insurance for you and or
your spouse and maybe even some children that are not
adults yet. So we need to be thinking about where
you're going to get health insurance, whether that's you know,
(23:02):
Cobra or through the health insurance exchange, or maybe your
employer offers some type of benefit, so that it's something
to think about. We want to think about eliminating debt
as much as possible by the time you get to retirement.
The less debt you have, the lower your monthly expenses
and the less income you need to create to fund
(23:23):
your lifestyle. And we want to be thinking about making
sure our estate plans are up to date and in order.
And finally, we want to make sure that we've fully
funded that emergency fund prior to retirement.
Speaker 1 (23:35):
A lot of items there and of course very important
items that you want to make sure that you're working
through each of them. And of course we talk with
the retirement planning professionals from Class Financial. They'd love to
talk to you, they'd love to work with you, and
they make it real easy to do. All I got
to just pick a phone, gimme a call six oh
eight four four two five six three seven. No charge
for that. Initial'll get to know you appointment ach Coss Financial.
It will be complimentary to you. Again, they're telephone number
(23:57):
six oh eight four four two five six three seven.
We'll do the class quiz question leak. We'll also talk
about the importance of health in retirement. We'll get those
details next. As Money in Motion with Class Financial continues
right here. I'm thirteen ten WIVA talking with our retirement
(24:19):
planning professionals CJ. Closs and Eric Schwartz. Of course they
come to us from Class Financial, the website colss financial
dot com. That's Class k l aas financial dot com.
Talking this week about really getting ready and preparing for
retirement to things think about not just your wallet, but
also your mind and body, and that brings us uh,
that kind of the the we got through the financial part,
(24:41):
let's talk about the importance of taking care of our
health as well.
Speaker 2 (24:45):
CJ.
Speaker 3 (24:47):
Yeah, exactly, Sean. So it's easy to get caught up
in the numbers, but your health is your greatest asset.
So think of it this way. Your financial wealth and
your physical health are like two sides of the same coin.
You can't truly enjoy one without the other. So again
people come to us for the quantitative side of retirement planning,
(25:07):
and by the way, that is certainly very important. You
would hate to rush into retirement focusing only on the
health side of things, only to find out that you
don't have any money to live off of. But they
are the same coin. You have to flip those sides
over and recognize if I've got all the money in
the world but no ability to use it or enjoy it,
(25:28):
then it doesn't do you a lot of good. So
think of health as a foundation. Imagine having a perfectly
crafted retirement plan, but you're constantly battling health issues. That
is again not the retirement retirement dreams that you probably
had early on. And just like you wouldn't want to
build a house on a shaky foundation, you do not
(25:48):
want to build your retirement on shaky health. So start
thinking about simple things like am I actually working my
body out so that when I get to retire minute
sixty five or sixty seven or sixty two, whatever it
might be, that I will have the physical health to
go travel, to do the things that I want to do,
(26:09):
to play with my grandchildren, whatever it might be. So
some proactive health habits to think about as again, developing
a good diet, running exercise, scheduling checkups, and screening with
your doctor for early detection in case you do have
any issues going on. And then even mental health awareness,
so not only just kind of working with counselors as
(26:32):
you need to, but beyond that is also actually exercising
your mind. One thing that Eric and I see happen
as people retire, if they don't retire to something, is
that often their mind really slows down. Now this can
be actually cognit you diagnosed cognitive decline, but it's not
always that. Sometimes it's just I'll call it mental laziness
(26:56):
where you're not having to think critically about things anymore.
It's for a good reason. Many times people are tired
of having you think critically, so they get to retirement
and they just want to slow down. But that slow
down can cause your brain to actually lose some of
its stimulus and struggle to recall information or to even
be engaged. So you know, think of health as a
(27:19):
lifestyle and aligning your health and wealth are are really
important factors to consider.
Speaker 2 (27:24):
Talking this morning with CJ. Closs, and Eric Schwartz.
Speaker 1 (27:26):
They are our retirement planning professionals from Class Financial.
Speaker 2 (27:30):
Great program.
Speaker 1 (27:30):
As always, if you missed any part of the show,
don't forget, can listen back class Financial dot com.
Speaker 2 (27:35):
That's COSS k l a A S.
Speaker 1 (27:37):
Financial dot com. Del for number six oh eight four
four two five six three seven.
Speaker 2 (27:41):
Don't forget.
Speaker 1 (27:42):
No charge for that initial get to know your appointment
at COSS Financial. It will be complimentary to you again
their number six oh eight four four two five six
three seven. You want to hold on to that telephone
number as well. It's time now for the Coss Quiz
Question of the Week. Works like this. In just a moment,
I'll ask you the class Quiz question of the week.
You'll then have thirty minutes from the ener today's program
to call the Claws Financial office right here in Madison
at six oh eight four four two five six three seven.
(28:05):
If you are the first call with the correct answer,
you'll win this week's prize, which is a twenty five
dollars gift card to Chewy. This week's class Quiz question
of the week is this true or false? In twenty
twenty five, we will see the highest number of Americans
reaching the traditional retirement age of sixty five. Is that
true or is that false? Telephone number six oh eight
(28:26):
four four two five six three seven, first call, correct answer,
win the twenty five dollars gift card to Chewy. And
again that's Class Financial office right here in Madison, CJ.
Speaker 2 (28:35):
Eric.
Speaker 1 (28:35):
It's always great chatting with both of you guys. You
enjoy this beautiful weather and looking forward to uh, looking
forward to the great summer and seasons ahead.
Speaker 2 (28:43):
So you guys to have a great day.
Speaker 4 (28:45):
Thanks Sean, Thanks Sean.
Speaker 1 (28:46):
Take care guys. Doctor Marty Greer comes your way next year.
On thirteen ten WIVA, This is Money in Motion with
COSS Financial Asset Advisors, LLC, a registered investment advisor registered
with the SEC. The contents of this show are for
informational purposes only and should not be considered individual investment advice.
Class Financial does not offer tax or legal advice. Any
(29:08):
opinion offered during the course of this show is the
opinion of that particular investment advisor representative and not necessarily
the opinion of Class Financial. News comes your way next
right here. On thirteen ten, WIBA
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