Smooth Sailing in Retirement: Avoiding Costly Mistakes

Episode Transcript

Speaker 1 (00:00):
And our telephone lines they are open for you right
now at six oh eight three two one thirteen ten.
That's six oh eight three two one thirteen ten. Got
questions for our retirement planning professionals from Class Financial CJ.
Closs and Malia Quavis. Of course they both come to
us from Class Financial and you can learn more on
their website Class financial dot com. That's class k l

(00:21):
a as financial dot com. Great website resource to learn
more about Class Financial. You can of course listen back
to this previous shows podcast there. You can also sign
up to the weekly Market Pulse newsletter that available to
you at classfinancial dot com. Telephone up for the office
right here in Madison six oh eight four four two
five six three seven. No charge for that initial get
to know you appointment at colss Financial. It will be

(00:43):
complimentary to you again their number six oh eight four
four two five six three seven. And if you've got
a question, I'd love to have you join us this week,
just pick up phone gifts ring six oh eight three
two one thirteen ten. That's three two one thirteen ten.
As mentioned, joined this week by CJ. Closs and Malia Quavis. CJ.
How you doing this week.

Speaker 2 (01:00):
I'm doing great. It's been a beautiful week, Sean.

Speaker 1 (01:02):
It's absolutely fantastic, great weather. And Malie, are you just
loving this stuff or what we are?

Speaker 3 (01:07):
We're waiting for those little leaves to turn their little colors.

Speaker 1 (01:10):
Yeah, it sounds like we may and fingers crossed, we
may have a good year for fall colors, but we'll
have to keep an eye on that. We've got some
important conversations this week about ten mistakes that you need
to avoid when it comes to retirement planning. We're going
to walk through those with our friends from Class Financial, CJ.
Colss and Malia Waves in just a moment. But first,

(01:30):
before we get rolling on this week's topic, one of
the great things we do each and every week here
on Money in Motion with Class Financial is the Closs
Quiz question of the week and our friends from Class
Financially have provided a twenty five dollars gift card to Amazon.
We'll tell you a little bit later on in the
program how you can win that gift card. But a
little tip listen closely to the program because most of
the time, just about every time the question answer come
up during the show gives you a little bit of

(01:52):
a leg up on everybody else. Before we start talking
about those mistakes, let's actually look back at last week's show,
Malia and get the question and answer there as well.

Speaker 3 (02:00):
Yeah, so last week we had a great conversation regarding
gifting and what you can plan for with your own
estate and potentially give away some money to your own
family or other people that could benefit from that potentially,
and understanding what those limits look like every year. So
the question of the week revolved around that in twenty

(02:22):
twenty four, how much are you able to gift to
another person with no federal gift tax consequences? Was it
five thousand dollars or eighteen thousand dollars per person? Was
the question? Donna of Madison correctly answered eighteen thousand dollars
per person. You could multiply that by ten people and
give out one hundred and eighty thousand dollars, So just

(02:44):
keep that in mind that total for twenty twenty four.
Congratulations to Donna and listen carefully to today's question and
it was.

Speaker 1 (02:50):
A fantastic program as always, and you can listen back
at Colssfinancial dot com. That's COSS Financial dot com k
LaaS Financial dot Com. Phone lines are open to three
two one thirteen ten. That's six oh eight three two
one thirteen ten. So this week we're going to be
talking about ten mistakes folks need to avoid when it
comes to retirement planning and CJ. What should be we

(03:11):
be aware of when it comes to our own planning.

Speaker 2 (03:14):
Yeah, you know, having done this for darn near twenty
years now, and I think Malia's well over that we
we start to see some commonality in things that people
do right and in things that people do wrong as
they both prepare for and then live in retirement. And
so that's what we're going to talk about today is basically, hey,
what are some of these major mistakes that we see

(03:37):
people make and how can you avoid them? So Number
one would be staying too aggressive in your portfolio as
you approach retirement. So, as you can imagine, everybody loves
great returns, but they often forget about the risks over
a period of time. Because our mind aren't actually as

(04:01):
powerful as we think they are. They tend to have
what's called a recency bias to them. And this has
been studied and kind of proven over time that whatever
has happened most recently to us, we remember really well,
but things that have happened over longer periods of time
often we don't now. It depends on the severity of that.
And I mean that's both humbly and sincerely, and that

(04:23):
people have had some super long term, severe experiences that
do stick with them. But where this comes into play is, Hey,
my portfolios done really well in the last three, four
or five years. Golly, I don't think I need to
back off my risk as I get closer to retirement.
And so that would be the mistake is thinking that
you can just kind of ride the wave of extreme

(04:44):
volatility throughout retirement and forgetting that as you approach retirement
and live in retirement, most not all, but most people
need to back off that risk in anticipation of needing
to use that money for income. Now, Please, if you
are listening to me right now in the air and
you go, oh, good point, I'm gonna go change my
investment strategy, don't do that. Go talk to somebody, because

(05:07):
your situation could be unique where you don't need to
adjust it. I don't know if you have a major
pension or if you have twenty million, I don't know
the particulars of you. But even even though I don't
know the particulars of you. One of the biggest mistakes
we see people making is staying too aggressive as they
approach retirement.

Speaker 1 (05:27):
Talking this morning with CJ. Cossim Lea Quavis. They are
our retirement planning professionals from Class Financial. Phone lines are
open three two one thirteen ten. That's three two one
thirteen ten. The website for COSS Financial it is Cossfinancial
dot com. That's Coss Klaas Financial dot com and they're
telephone number six o eight four four two five six
three seven. So Cjet's talk about kind of some more

(05:48):
of those mistakes and some of those areas that kind
of rates those red flags people should be queuing in on.

Speaker 2 (05:53):
Yeah, so mistake number two would be retiring without considering
all your health insurance costs or options. So often people
just say, oh, I'm just I'm done, or I'm frustrated
with my boss or whatever it might be, and they say,
I'm just going to retire. I'm sixty two or I'm
sixty years old, and I'm just going to do it.
I'm going to jump in with both feet. And by

(06:14):
the way, we respect that. We often tell people, hey,
if your job is killing you. You're better off retiring
than not living to retirement. But a big butt is
that health insurance is a large consideration if you're going
to be retiring before Medicare eligibility age. So Medicare, remember,
is government subsidized health insurance for American seniors over the

(06:35):
age of sixty five. So some things you might want
to consider is, Hey, if I'm going to retire before
sixty five, what other options are available to me. One
would be COBRA. It's called the Consolidated Omnibus Budget Reconciliation Act,
and COBRA forces most large employers with over twenty employees
to offer group health insurance for eight up to eighteen

(06:59):
or thirty six months, depending upon the structure of the
company and the plan of continuation of the group health insurance.
They can't kick you off right away. Now, you'd want
to check with your employer to make sure that your
plan meets that requirement. But here's the key. You have
to pay for the whole premium, and often you have

(07:21):
to add an administrative cost on top of that, which
makes it about one hundred and two percent of the
full premium. So the point being, COBRA is a great
option if you're retiring before sixty five, because you can
have it for eighteen to thirty six months after retiring,
but don't think it's going to be at the same
cost it was when you were an employee. The next

(07:41):
would be like, Hey, if I'm going to retire before
sixty five, does my spouse have health insurance because that
could be great. Right you retire, jump off your group plan,
jump under your spouse's until you turn sixty five. Another
option might be veterans Health insurance for those who have
served with honor in the military. Another would be a
four Care Act. So again, if you're retiring before sixty five,

(08:04):
maybe your COBRA insurance is too expensive or you don't
have an employer plan that you could jump onto. Then
there's something called the Affordable Care Act that was passed
during the Obama administration that does offer everybody insurance and
it is kind of government run. It's through the Healthcare
dot Gov. Now it's the insurance plans are provided by

(08:25):
private insurance companies, but the actual subsidy part of it
you have to go through the Healthcare dot Gov website.
So you know, there's another thing, and then there are
these other options called medical sharing arrangements. But we're really
getting deep into the weeds when you get into medical
sharing arrangements. So you would want to talk to a
specialist about your health insurance options. But as you can see,

(08:47):
mistake number two retiring without considering health insurance costs. There's
a great example of why there's five six, seven different
options that are available to you. And before you pull
that plug on working, you just want to pause and
be aware of what you're going to do.

Speaker 1 (09:02):
Talking this morning with CJ. Colossim Leia Quavis or Retirement
Planning Professionals their website class financial dot com. That's class
financial dot com telph number six to eight four four
two five six three seven. So we've got one too,
And I'm not I'm not good with numbers, but I
know up next CJ is number three.

Speaker 2 (09:19):
That's right. Yeah, yeah. So so mistake number three is
not being tax wise. So here would be an example
of not being taxwise as you as your approach retirement
or live in retirement. I've mentioned this on the show before. Hey, CJ,
I heard that I should be debt free before I retire.
You guys talk about that on the radio show all
the time, and I would say, that's right. Ideally you're

(09:40):
tax free. So they go, well, what I did was
I just decided to pull out three hundred grand from
my four oh one K plan to pay off my
mortgage right before I retired, and whoo, I'm debt free
of course, really, And I go, excuse me, h, you
may not have heard the subtlety in our advice there,
So why would that be a problem. Well, the reason

(10:03):
that would be a problem is because when you pull
money out of your four oh one K or ira
under most circumstances on this unless these are roth dollars,
you're going to be subject to income tax. And remember
our income tax consequences here in the United States are progressive,
not regressive, and so as you earn more income, you
pay more tax. Not to mention, you can pay other

(10:24):
taxes and penalties and loss of benefits that you wouldn't
have if you hadn't kind of jacked up your income
in one particular year. So, if you are going to
make significant moves in your financial plan that could impact
your income in any given year, please please please talk
to your financial advisor, talk to your account before making

(10:44):
those huge moves. I mean, listen, everybody, we are all
for you being debt free. If we have not been
clear about that, I just want to be super clear. However,
it has to be done in light of your entire
financial picture and the tax environment that you live in.
So there you go. Mistake number three is not being
tax wise as you head into retirement.

Speaker 1 (11:03):
Could be obviously a great benefit being debt free, but
you want to make sure they as you point out CJ,
that that you're following the following it and of course
it's the ultimately the greatest benefit to you. As we
talk with our retirement planning professionals from Class Financial, CJ.
Coss and Malia Quavis, don't forget. You can learn more
about Claus Financial on their website class financial dot com
that's spelled k l a as Financial dot com. Great

(11:26):
website to learn more about Costs Financial their separate divisions.
You can also learn about the team there as well
as sign up for the weekly Market Pulse newsletter. It's
a weekly email you'll receive got a snapshot of what's
been going on in the markets, as well as a
link to the most recent podcast that available to you
at cost Financial. Speaking of things available to you at
Coss Financial pick up phone. Give a call six oh
eight four four two five six three seven. No charge

(11:48):
for that initial get to know you appointment at Coss Financial.
It will be complementary to you again their number six
oh eight four four two five six three seven. Maybe
you have a pension and it can be a great blessing,
but there are some things you want to consider before
you make decisions around your pension. We'll get the details
from Malia. We will do that next as Money in
Motion with Coss Financial continues right here on thirteen ten.

(12:09):
WIBA talking this morning with our retirement planning professionals Malia
Quavis and CJ. Closs. Of course they come to us
from Class Financial the website Coss Financial dot com. That's
k Laasfinancial dot com. Great website to learn more about
Class Financial. Also, don't forget to sign up for the
weekly Market Pulse newsletter. While you're there. You can listen

(12:31):
back to this in previous shows podcast as well, all
available to you online at Cossfinancial dot com. Urtel phone
number six oh eight four four two five six three seven.
No charge for that initial you'll get to know your
appointment at Coss Financial. It will be complimentary to you
talking about some of the mistakes you want to avoid
when it comes to retirement planning, and Malia, folks who
have a pension, Oh, what a great option that is,

(12:53):
and what a great opportunity and a blessing that is.
But there are choices that need to be made. And
are there some potential mistake folks can make when when
it comes to making the decision about some of those
some of those options with their pension.

Speaker 3 (13:06):
Yeah, absolutely, And you know this. We don't want to
be negative on this show and just talk about mistakes. Right,
there's certainly more than ten mistakes people can make or summarizing,
but really it's more about choices. We really have choices,
and we want to make sure people are aware of
choices when it comes to the retirement planning. So again

(13:27):
we've coded this as a mistake. Mistake number four is
not fully evaluating your pension options. Should you be so
lucky to be offered a pension given your type of work,
if you have any pensions coming to you. Many times
people they honestly this they've been working for thirty years,
They get a package in the mail, and we've seen

(13:49):
this more times than i'd like to repeat. People just
fill it out and return it without even taking a
second look or having a trusted partner take a second look.
These are critical, critical decisions because this is going to
affect your retirement income. So the first thing we're going
to say is slow down and really evaluate the options

(14:11):
that your company is offering to you with regards to
those payout choices, because those are critical because nine times
out of ten, once you've made those choices, they are
unchangeable or otherwise known as irrevocable once you've chosen them.
So you really want to, you know, again, sit down
with your financial advisor, look at your personal situation, the

(14:35):
age of your spouse, the health that you currently have,
longevity concerns, and then look at your other income that's
going to be coming into the household, and that's going
to help dictate which of the choices of pension options
you may want to choose. Could be single, joint, or lump.
Some and many times, and I'll be honest, we hear

(14:57):
financial advisors absolutely say, oh, take the lump, roll it
into an IRA and call it a day. That might
be the right choice, but that might not be the
right choice if in fact, the pension is actually paying
out at a decent rate over time, right, And those
are critical factors to really slow down. Look at the
pension and conjunction with your future social security, other investments

(15:23):
that you may have that may you may draw income from.
So it's not just a singular like, oh, I'm just
going to pick this box and that that's not going
to affect everything else. You really really want to slow down.
So that would be mistake number four. Sit down with
someone when you have pension options in your mix of
retirement income. Mistake number five is not maxing out a

(15:44):
company match that your company offers in your retirement plan.
And we've had previous shows on this how you should
take advantage of these options. So if your company offers
a four oh one K or other retirement plan, we
of course want you to sign up and maximize the
amount you contribute to take advantage of the entire employer
match if available. So again that match is typically a

(16:07):
percentage of your salary. So for example, if you contribute
six percent of your salary, your employer might match three percent.
So we would say we want you to shoot to
max out the four oh one K contribution for the
year if possible. Which in twenty twenty four is twenty
three thousand dollars, So write that number down if you're
under fifty years old, an additional seventy five hundred if

(16:30):
you're over fifty, for a total thirty thousand, five hundred combined.
So whatever you're contributing, and we again want to focus
you know, our bogie is the max that you can
afford to contribute. If in fact you can take advantage
of that match from your employer, that's just extra cream
that we're very excited that you could actually get. Now,

(16:53):
we've seen situations where your employer pulls back, does not
offer a match anymore, and we've seen people go, well,
if they're not putting money in, then I'm going to
just stop contributing. It's like, no, we want you to
get the match, but really we want you to focus
on this is your retirement, not their retirement, right, so
steady as it goes, we want you to continue contributing

(17:15):
and certainly don't dismiss free money.

Speaker 1 (17:18):
Talking this morning with Malia Quavis and CJ. Closs, our
retirement planning professionals from Class Financial. Learn more online Coss
Financial dot com. That's Coss k l A as financial
dot com and they're telephone number six. So eight four
four two five six three seven, no charge for the
initial get to know you appoyment tech loss. Financially, it
will be complimentary to you and Malia, you were talking
there about putting money in what about taking money out

(17:43):
of your retirement accounts?

Speaker 3 (17:45):
Yeah, this is mistake number six. We're not a fan
of doing this, although we understand life sometimes throws some
curve balls. You know, you're raising kids, et cetera, et cetera,
but we are not fans of taking money out of
your retirement accounts prior to retiring. Okay, and we see
this a lot with clients who want to help their

(18:07):
adult children, so it's not that it doesn't happen, but
we're not big fans of it, and so we want
to be clear on this. If you do take money
out of your retirement accounts, either as a withdrawal or
a loan, you need to understand that withdrawals are taxed
as ordinary income ordinary income before the age of fifty

(18:28):
nine and a half, and on top of that, they're
going to come with a ten percent penalty unless you
have an exception. Maybe you qualify for a hardship withdrawal,
et cetera. But you have to understand if I take
out twenty thousand from my FOURMU one k today, that
is going to be added to my income for the year,

(18:50):
so I might push me into another tax bracket one
I don't want to hit. And then on top of that,
I'm going to also have a ten percent penalty on
that same money. Not a good feeling. You need to
really watch that carefully, especially as you're within five years
of retiring now. With loans, people also think, hm, I
can just get by the loan on my plan, et cetera,

(19:11):
et cetera. We have to understand that you are charged interest,
and if you leave your job, the entire loan may
need to be repaid immediately. Generally, it is depending on
the plan, and if you can't repay your loan, you're
going to be charged ordinary income tax and the loan
amount plus a ten percent early withdrawal penalty. So again,

(19:33):
sometimes these can't be avoided, but this is not one
of our first choices that we would recommend when you're
trying to maybe take take care of some situations.

Speaker 1 (19:43):
Talking this morning with CJ. Colssmile Equavius of Class Financial
learn more online Class Financial dot Com. That's k l
a A S Financial dot Com and they're telemphone number six.
So eight four four two five six three seven, no
charge for the initial get to know your appointment at
Class Financially. It will be complimentary to you. What about
social Security? What do we What are some of the
pitfalls and some of the snakes folks may make around

(20:05):
social security?

Speaker 3 (20:06):
Maliana, Well, there's a lot of buzz always about when
I should take my Social Security and yes, it's very,
very important. We do entire shows throughout the year on
social security, the pros and cons of when to pull it,
and generally speaking, you know, there's a lot of people
out there who want to take it as soon as
it's available, which is age sixty two, and they the

(20:28):
understanding here is you could take it as early as
sixty two. Preferably, we like people to probably wait till
their Social Security deems it full retirement age, which is
your FRA, which for most people's age sixty seven. So
the earliest you can draw sixty two retirement age is
probably sixty sixty sixty seven for most of our listeners.

(20:51):
So why does this matter? Well, the earlier you take it,
the less you're going to get per year, you're going
to get discounted, basically a thirty three percent less benefit
if you start it early. And if you happen to
be working at age sixty two and you're earning too
much between age sixty two or sixty three and your

(21:13):
full retirement age, you will get benefit pulled back from
Social Security if you're over a threshold of earning too much.
So again, we want people to sit down and map
out these numbers with a professional to make sure when
it makes sense for you. Taking into consideration you may
have a spouse. If something happens to one of you,

(21:34):
the other one is only going to get one of
the benefits, and typically we want to make sure that
benefit is as high as possible, potentially asking one of
the two of them to wait till age seventy to
start pulling their benefit because there is reasons to allow
your benefit to grow between full retirement age and age seventy. Again,
we have full shows on this, but just slow down
on Social Security, and those are a.

Speaker 1 (21:56):
Lot of fantastic shows. And when you mentioned so Security,
Malia and you talk about the full shows that we've done,
we've done. I know that. Get a lot of feedback
on those, get a lot of calls, a lot of questions,
really good podcasts folks can access at cost Financial dot com.
That's coss k l a a s Financial dot com.
Or simply give call six oh eight four four two
five six three seven. Don't forget no charge for the

(22:17):
initial get to know you appointment at Costs Financial. It
will be complementary to you again. Their number six oh
eight four four two five six three seven will wrap
up our ten mistakes folks make can make when it
comes to retirement planning and how to avoid them, and
also to the COLSS quiz question week. We'll do that
next as Money in Motion with cost Financial continues right
here on thirteen ten wiv a retirement planning professional CJ.

(22:43):
Coss and Malia Quavis of COSS Financial. The website coss
financial dot com. That's Coss k l a a s
Financial dot com. There telephone number six oh eight four
four two five six three seven. No charge for the
initial get to know you appoyment at Loss Financial. It
will be complementary to you again. They're number six oh
eight four four two five six three seven. Talking this

(23:04):
week about ten mistakes that folk should avoid when it
comes to retirement planning and kind of bringing it down
the home stretch CJ. These last two just as important
as the first two. In the first first eight. For
that matter, let's talk about some of the other mistakes
folks should be avoiding when it comes to that planning.

Speaker 2 (23:21):
Yeah, so financial planning mistake number eight is planning to
work indefinitely. So again we often see this where people
come in and say, ah, I haven't saved enough and
it's too late now, you know, just keep my head
in the sand, and I don't want to do the
heavy lifting to try to figure out how much I
would need to save, so I'll just plan to work forever.

(23:43):
And as you can imagine, we all kind of intuitively
know that's not a great financial plan. But here's some
actual supporting information around that. So while many people plan
to retire at age sixty five or later, because because
we can survey this to find out when people plan
to retire, the realities that actually most Americans retire closer
to age sixty two than sixty five. So you go, well,

(24:07):
what's what's the reason for the spread there? And often
it can be things like health concerns or layoffs or
uncontrollable items. So while more than half of today's workers
plan to continue working in retirement, the realities that only
one in five Americans age sixty five and over are
actually employed were about twenty percent. And this is according

(24:28):
to the US Department of Labor statistics. So you get
it right if you just say to the financial planner
to me, hey, I haven't planned appropriately, so I'm just
going to work forever. We're going to go. Hold your horses.
Statistically speaking, that might be very challenging to make happen,
not to mention you know, layoffs and health, you know,

(24:50):
events that occur. So again there can be a whole
host of reasons why that may may not be possible.
Mistake number nine would be putting your kid before your retirement.
So again we see this quite often where people say,
you know, I've saved in my retirement plan, but only
the best for my children. And so you know, I

(25:12):
want to make sure they go to the best schools
and that money is not is not a barrier for them.
And I want to make sure they have the best
wedding and that money is not a barrier for them.
So listen, you can. You've probably heard this phrase before.
You can borrow for things like education and weddings, you
cannot borrow for retirement. It is important not to mention

(25:35):
that as your kid's age and they become more mature,
they will actually say to you, mom, dad, why did
you do that? Why did you not say for your
own retirement so that you could give me all of this,
Because now you're going to be dependent upon me as
your child. So the idea here is you have to
prioritize your retirement first to make sure you're reaching a

(25:58):
minimum sustenance of retirement, that you take care of yourself,
and then your children's education costs and and other things
like that come onto that. Let me add to that,
there is a huge misnomer in the United States that
like all of us just pay for our kids education.
That is simply not true. The reality is that a

(26:18):
lot of kids either work through college come out of
college with student loans. It should not be an expectation
that just because you're a middle class or upper middle
class you know American family, that you're going to pay
for your kids college education. Please don't put that burden
on yourself. It's just not a reality. You may even

(26:39):
hear families around you saying, oh, yeah, our kids go
to Princeton and Yale, and yeah, we just pay for
the whole thing. Listen, half the time that's not true.
The other half of the time, they may have gone
to Princeton and Yale on a full ride scholarship and
you don't know about it. Another third of the time,
maybe they got an inheritance that you don't know about
and that's why they're paying for their kids education. Don't

(27:00):
put the pressure on yourself to think that you have
to pay for all of this, including your own retirement.
It's just a huge burden.

Speaker 1 (27:08):
And number ten cj bringing us down the home stretch.
STOCKRACYT colssmally equative as high retirement planning for professionals from
class financial. What is number ten?

Speaker 2 (27:17):
Yeah, so the final one for today, Number ten mistake
to avoid is drawing too much out of your portfolio
each year in retirement. So this really gets into the
subtlety of having a relationship with a good financial planner.
You have to make sure that your investments are allocated
appropriately to meet your income needs, and then on top

(27:41):
of that, you have to make sure that your withdrawal
rate is sustainable. Now we use big terms like sustainable
withdrawal rates and Monte Carlo simulations and all kinds of
different things that confuse people. But let me just simplify
this for you. While you're working, you accumulate money off
to the side. Yes, this is known as four one contributions,
irate contributions, taxable accounts, even paying off your debt on

(28:04):
your home. That is a version of accumulating wealth. So
while we're working, we accumulate dollars. When we retire, we
decumulate dollars. Simple concept. You know, imagine just a hunk
of money out in your backyard that you keep throwing
money into the pit of the the hole you have
in your yard. And then you get to retirement. There's
no more working income coming in, so you go out

(28:26):
to that pit and you start pulling money out of it.
This is the idea of withdrawal rates. The question is
how much are you pulling out of that hunk of
money as a percentage, Right, If I lop off ten
percent of my money that's in my backyard each year,
I got ten years. If I lop off five percent,
I've got twenty. But how do I run that calculation.

(28:49):
If I have a volatile portfolio. You see the idea, right,
It's it's art and science combined. And so what I'd
say to you is this is where people like us
really come into play. For us, we retire thousands of
times with our clients. You're going to retire once, and
so we know how to both build the investment allocation
to beat your needs while also growing it enough to

(29:09):
fend off from inflation. Because there's a lot of things
you have to consider if you're going to be retired
for twenty plus years. So final mistake drawing too much
out of your portfolio every single year, as it relates
to this one, just make sure you're talking to somebody
who knows what they're doing.

Speaker 1 (29:24):
Really important data. Start that conversation. CJ. Colosseumleiaquavis. They are
our retirement planning professionals from COSS Financial. You can learn
more about Class Financial their website cossfinancial dot com. That's
Coss Klaasfinancial dot com. Also a great feature there is
the weekly Market Pulse newsletter get subscribed to that I've
been subscribed for a number of years. It's a really

(29:45):
nice weekly snapshot of what's been going on in the
Market's also linked to the most recent podcast again that
available to you at Cost Financial their telephone number six
oh eight four four two five six three seven. Don't
forget no charge for that initial get to know you
Appoyment Tech Loss Financial. It will be complement three to
you again their number six oh eight four four two
five six three seven. Go on to hold on to

(30:05):
that number as well, because it's time now for the
coss Quiz question of the week. It works like this,
In just a moment, I'll ask you the CLSs quiz
question a week. We will then have thirty minutes from
the end today's program to call the Class Financial Office
right here in Madison at six oh eight four four
two five six three seven. If you are the first
call with the correct answer, win this week's prize, which
is a twenty five dollars gift card two Amazon. This

(30:25):
week's coss Quiz question the week is this, according to
the Department of Labor, what percentage of Americans are currently
employed at age sixty five and beyond? Is it five
percent or twenty percent? Telephone number six oh eight four
four two five six three seven. First call it correct answer,
We'll win that twenty five dollars gift card to Amazon.
Don't forget as well. That's Coss Financial office right here

(30:47):
in Madison six oh eight four four two five six
three seven CJ. Malia. It's always great hanging out with
both of you guys. Enjoy this fantastic day.

Speaker 2 (30:56):
Thanks thanks Sean.

Speaker 1 (30:57):
Doctor Marty Greer joins us next year. On thirteen ten WIBI,
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. Coloss Financial does not
offer tax or legal advice. Any opinion offered during the

(31:19):
course of this show is the opinion of that particular
investment advisor representative and not necessarily the opinion of Coss Financial.
News comes your way next right here on thirteen ten
WIBA