November 18, 2025 • 15 mins
Scott Brown with Edgewater Family Wealth kicks things off by talking about his trip to Antarctica for his daughter's college graduation before moving on to discussing the utility of money at the beginning of retirement, or even the end of your working years.
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Speaker 1 (00:03):
I app has a lot of fun guys. We go
every year as a amusement operator. If you want any
cheap games, buy them up the floor because none of
those companies want to ship that stuff back to wherever
they came from.
Speaker 2 (00:24):
Welcome back to the Jim Bober Show. Roll Radio one
oh four point one. Thanks for tuning in today. We
appreciate that, as we do every single day. Give us
a like on the ar, give us a follow on
that iHeartRadio app. Make us your number one pre set.
Speaker 3 (00:35):
Pretty please, pretty pretty please? I'm Jim.
Speaker 2 (00:37):
There's deb check is here as well, so is Sausaddy Fashion.
Let's do its only money?
Speaker 3 (00:43):
Oh, people passionate about planning for the future. Rise above
investment myths to.
Speaker 2 (00:50):
Build real.
Speaker 3 (00:53):
Isn't that really just common sense financial advice? Oh? Okay,
own with your money? Wis Scott Thrown from Edge Family.
Good lady, Scott Brown.
Speaker 2 (01:08):
That's what Ourfamilywealth dot Com. A fiduciary in town for
thirty eight years, making sure you make good decisions on
your portfolio that can make you nice and comfortable for
the remainder of your existence.
Speaker 3 (01:20):
That's a specialty. How you done, buddy, I am fantastic.
Speaker 2 (01:23):
You are a.
Speaker 3 (01:23):
Fantastic thought out.
Speaker 2 (01:24):
Now, although I was listening to that fashion discussion, I
found that quite fascinating.
Speaker 3 (01:30):
Did you, I said, I said we should bring brown
in you. Yeah, yeah, because you make some good fashion tice.
You're a fashionable dude, I was. I'll tell you. I'm
gonna tell you this right now. I was best dressed
in high school?
Speaker 2 (01:39):
Were you really?
Speaker 3 (01:41):
That does not shock me? Yeah? I was. You know,
I'll tell you what you pull off quite well. What's right?
Speaker 2 (01:46):
You pull off casual, professional very well. I saw you
walking through publics or a store or whatever. I would
think that you're successful even though you had on like
jeans and maybe a pullover something like that, because you just.
Speaker 3 (01:59):
Look you air about how it fits. Yeah.
Speaker 2 (02:01):
I'm not a you know, I'm not a I do
wear suits obviously in my business enough, but it's not
my favorite thing. I don't love. It's not it's not
a look. I think I pull off better than casually.
I think I'm more of a casual person. Yeah, yeah,
I don't know if that makes any sense whatsoever. It
actually makes perfect Sen's a matter of fact, you came
in after a day where you had your suit on.
I think you had your dress shirt and your slacks on,
(02:22):
and you looked odd to me. Yeah, yeah, because I'm
so you know, I get it. I'm so you screen
you in your casual wear that you and professional wearing
a little odd.
Speaker 3 (02:31):
Yeah, and it's I've gotten to a state.
Speaker 2 (02:33):
You know, when you're young in this business or any business.
I guess if you're a white collar quote unquote professional,
you're expected when you're specially because I tell the young
guys like I'll walk in in my polo and I
have we have really nice polos, and I'm wearing my
doctors or whatever I'm wearing, and then I.
Speaker 3 (02:47):
See the next day all the young guys doing it.
I'm like, no, no, no, no, new new new new new.
Speaker 2 (02:52):
Let me explain. Check the business. You have to do
what I did when your early twenties. In my case,
wear the same blue suit every day. Yeah right, exactly,
no time had one different tide.
Speaker 3 (03:02):
Had one blue suit.
Speaker 1 (03:04):
Scott.
Speaker 3 (03:04):
Do you have a super big fashion No no, no,
no no. You know I was listening to all your
no no, no, no nos.
Speaker 2 (03:12):
The one I I would say is I don't love
the old man uniform, which is the baggy shirt like
they got it's kind of form fitting at the top
a little bit and then it gives up, but it
gives the belly like it's like becomes a tent of
some kinds over the guy's belly. It's like they sewed
it on you. And then when it got just blow
your boobs that look down and said I'm out. Yeah,
(03:33):
it's like I'm not I'm not gonna stick around for
this bottom part of the story. I don't want to
be here for that. Yeah, it just becomes a tenth
Like you feel like if it rained, you would just
get up under there and you'd be the big dudes
don't want it fitting down by their stuff. You can
see a big their belly button is right, especially in Florida.
It's a catch twenty two sure for sure. Yeah, so no,
(03:53):
I thought I thought you guys did a good job
on the on the don'ts. I mean, the other thing
I don't like is that kind of fifty sixty year
old guy who's you know, his shape isn't really what
it used to be, but he's got the tight form
fitting like athletic wear on you'll like still look like
yeah yeah, or that was or that shirt where he's
asking a lot of the buttons.
Speaker 3 (04:11):
Yes, yes, you're about to give up when the buttons
start to zig zag. You talking about off and shooting
you in the eyes.
Speaker 1 (04:21):
Yeah.
Speaker 2 (04:22):
Good. Well it's interesting because you haven't been here for
a couple of weeks. Your sun Bratcher was in and
I did a great job. By the way, what a
wonderful young man.
Speaker 3 (04:29):
Thank you. But you took a really interesting trip.
Speaker 2 (04:32):
Your daughter graduated from college, she did, and she wanted
to go to Antarctica.
Speaker 3 (04:37):
She did, so we went. We were there.
Speaker 2 (04:41):
I mean, the trip was about two thirteen days in total.
We were probably in Antarctica proper uh for about nine
or ten days, and it was it was crazy. It's
like the closest you can get, I think, based on
my travels to another planet.
Speaker 1 (04:54):
Yeah.
Speaker 3 (04:54):
Yeah, yeah.
Speaker 2 (04:55):
Matter of fact, you and I were switching text back
and forth right when you got there, because I said, hey,
whatever you do, just send me a couple of tech
just let me know.
Speaker 3 (05:00):
Because you got to fly to Miami.
Speaker 2 (05:02):
From Miami down to Buenos Aires, yep, and then from
there you get on a boat.
Speaker 3 (05:05):
Well you got to go from there to Yushuaia, which
is another three hour flight. So you you gotta want it.
Speaker 2 (05:11):
Like come to like you know, a like you know,
you get on Port Canaveral and three hours later you're
in Antarctica.
Speaker 3 (05:18):
It doesn't quite work like that. Sit in a nice market. Yeah, yeah,
I like that.
Speaker 2 (05:22):
Okay, So can you give us the explanation of why
this was a thing for her. I mean, most young
ladies would do that trip to Europe and said they'd
go to Greece and Rome and all those other things. Why,
I mean, why Antarctica of all places she could go.
She's weird for starters. Yeah, she's my child. Yeah, she's
always been an adventurous sort. Like, she likes to travel.
(05:44):
She she'll jump on a plane and go literally anywhere
if she can. And she she told me this, she says,
she told me this when she was four. I don't
remember that part, but I remember her graduating from high school.
It's whatever, eighteen years old, and she said, Dad, when
I graduate, she's off to Florida. When I graduate from Florida,
I want to go to Antarctica. And I thought, sure,
(06:04):
never remember that, She's not gonna want to do that.
And no, we went to Antarctica. So, yeah, that was
her thing she wanted to see. She had read about it.
She's a peg she's an animal person show. She likes
penguins and she wanted to see all and she got
to see lots and lots of very very smelly penguins.
Yeah smell.
Speaker 3 (06:23):
Yeah, Well they eat fish, the.
Speaker 2 (06:25):
Worst breath in the world they have, and you're not
supposed to get like they keep you from them, like
they're you can see them, but if one's coming towards you,
you have to back up. You have to keep ten
or twenty feet away from them, because the last thing
I want to do is interrupt what's going on in
our arctica for the animals. And in the wild, you
could smell them because I know at Sea World and
the Penguin encounter, you're in a room and so this
(06:45):
smell is is trapped there, but you can still smell
them out.
Speaker 3 (06:49):
Oh my goodness. Yeah, there's because you might be in
a colony.
Speaker 2 (06:52):
I don't know what they call them, they call them
something else, but you would be in a bunch of
penguins that it would be one hundred of them there,
one hundred and fifty of them, and they're and the
weird thing is they're so good in the water. That's
what they're built for. They're awful on I mean, they're
like like drunk old men, just constantly tipping over each other.
Speaker 3 (07:08):
The penguins, I know. Yeah, yeah, they're not they're not
good at the walking thing.
Speaker 1 (07:12):
It is it?
Speaker 2 (07:12):
A yeah, a colony, A rookery, I think that's right.
A rookery, says rookery, A wattle of penguins. I think
I heard it was a group of penguins on land. Yeah,
rookery is a colony. They raise the Yeah, where one
penguin nests and raise their young.
Speaker 3 (07:28):
So they had a bunch of nesting going on. It
was starting. They had begun that thing.
Speaker 2 (07:32):
Where they they get together in a group and they
and people the penguins will move towards the center as
they cycle them around. That's called a crash c r
E c h E.
Speaker 3 (07:42):
So we're learning. Okay, I'm gonna tell you, no matter
what you call it, it stinks. So what northern lights
did you see?
Speaker 2 (07:49):
I did not see northern lights that we did not see.
We saw whales, minky whales. We saw seals. We saw
crab eater seals. Okay, and we saw one leopard seal.
Speaker 3 (08:01):
Oh that's cool. Yeah, And they're the they're the badasses
of of the Seer popular.
Speaker 2 (08:05):
Yeah.
Speaker 3 (08:06):
Yeah, they will eat you.
Speaker 2 (08:07):
Yeah.
Speaker 3 (08:08):
They've got a human beings killed by those things. No way,
really yeah for really yeah, I just saw it.
Speaker 2 (08:11):
There's a video that went viral of a small one
hopping on a boat to get away from two orcas
or a team of orca is looking for it. But
I did want to ask also, so you go down there,
and you and I were exchanging text and you know,
actually just right before we came on the air, one
of the things that we were talking about during the
text is and you said, you know, you said, you
just feel small and kind of insignificant because there's there's
(08:33):
nothing to measure too, because it's so vast and there's
nothing down there. And I was telling you a story
about going to the top of the UH when we
went to Colorado one year. We went to the UH
what they call the Summit House out there in Aspen
and in June even there's snow up there, and we
went when you go out to that back porch, you
go to the back and you look out on the
rockies and there's nothing, no houses, no nothing, and you
actually it makes you feel odd inside because it's there's
(08:57):
so much space.
Speaker 3 (08:58):
Yeah, it feels weird, does that the same kind of thing?
Speaker 2 (09:01):
Yeah, you almost feel vulnerable, like you just you're kind
of like I'm in this, like I I've landed on
the moon, basically because none of the especially to a
Florida boy.
Speaker 3 (09:10):
Yea, yeah, like it doesn't doesn't even look make any sense.
Speaker 2 (09:12):
You've got eight six story icebergs floating by that are
bigger than your boat you're and I'm on a six
hundred foot long boat, I mean, and it's just it's
just bizarre. And like you said, if you you look
out across a cove and you think is that one
hundred yards away or five miles away?
Speaker 3 (09:29):
And then how far do you have to go across that?
Humanity again? Oh yeah, six thousand miles. Yeah.
Speaker 2 (09:35):
Yeah, it's a fascinating and it's a place, you know,
I look, like I told my daughter, it's a place
where ninety nine point nine nine nine percent of the
population will never see that, right.
Speaker 3 (09:43):
Yeah, it's just an amazing which is actually kind of good. Yeah,
it's good for them.
Speaker 2 (09:47):
And the other thing I learned about Antarctica that I
didn't know is there not that call it whatever you want,
global change, climate change, whatever you want to call it
on some mad An email, it's not occurring there. It's
because of the way the water not yet, because of
the way the water circulates and keeps it cool. They
do not have the destruction of their ice there that
they have up in the Arctic. I'll be down because
(10:08):
the Arctic's land bound and therefore the melting is occurring
at a considerably rapid more rapid and I didn't know
that he had to there was a naturalist.
Speaker 3 (10:15):
I stain to, Yeah, explain it to me. That's amazing
that either you think that would be everywhere around. Yeah.
I still have the picture of you up there. It's
so funny.
Speaker 2 (10:22):
You sit in the last picture of you and it
was a the boat with an iceberg floating next to it.
Speaker 3 (10:27):
Yeah, it's just insane. How you guys even got up there.
Speaker 2 (10:30):
Yeah, no, it was. I mean it's like, like I
said you, if I were to do it again, I
would spend more time in Argentina, which was cool.
Speaker 3 (10:36):
I only got to spend two days there. But uh
oh yeah they're fresh with a bunch of money. Now
you're good. Yeah, that's what I've got. Twenty million that
just landed in their lap. Not sure how that happened.
All right, let's actually talk about some some stuff.
Speaker 2 (10:47):
You're here for utility of money at the beginning of
retirement or even the end of your working year. It's
not really sure what you mean there. Well, I think
this is a good segue from what I did. So
I turned sixty one a few days ago. It's a
shameless plug for my birthday, so you know. And the
way I think about this is like a lot of
people say, well, I have five hundred thousand I've saved
(11:10):
or whatever it is, and me and me and the
wife or me and the husband, we have this much money,
and we're going to spend five percent of that five
hundred thousand, which is twenty five thousand a year, and
we need to spend that till where eighty five or
eighty seven or whenever we pass away. But statistically, we
know physically people begin to kind of go downhill where
they can't walk stairs, they can't get on and off
a bus or whatever they need to do to travel,
and that's about seventy eight. We know that's about the
(11:32):
median age where we slow down physically. If we're fortunate
enough to live that long, and I think people need
to think more about the beginning years of their retirement.
Speaker 3 (11:40):
So like, again, I'm sixty one, I'm not.
Speaker 2 (11:42):
Retired yet, but I know there is a chance that
sixty three might not come, or sixty eight might not come,
or seventy two could be a problem. I hope that's
not the case, and I try to take care of myself,
but it could happen to me. So I think the
utility of money is there's more utility in your retirement
dollars early from say I'll just make this up, but
I'd say from age sixty to seventy two, seventy three,
(12:04):
seventy four, I think you and rather than spend twenty
five thousand a year till you're eighty five, why not say, well,
we're gonna spend thirty five thousand from sixty to seventy
two because we know we can do more. We know
we're gonna be more physically able. Because what I find
with my clients is they whatever that age is, let's
call it seventy eight, once they get to that age,
(12:24):
the spending drops way off because now they're just they're
physically unable to go do go, go, get on what
I did. I traveled for twenty seven hours. Yeah, I'm
not doing that at eighty No, no way, I'm doing
that right. And I think the other thing to think
about is if you're still working. There's a lot of
people that come in my office and they are like, yeah,
I'm gonna retire in a year or two. I'm not
(12:44):
taking any vacation time because I want the money. You know,
sometimes you get paid off for your vacation days and
I'm like, well, you know, you got three or four
weeks of vacation, you're healthy, you do have the money.
Speaker 3 (12:55):
Why wouldn't you go Now, why are you saving that
for what? Eighty nine? When you're ninety you're going to
do this.
Speaker 2 (13:01):
So I think one of the things we try to
be responsible, and I think that's fair, but I think
sometimes we're overly thoughtful about spreading the money out over
our lifetimes rather than maximizing the utility, say in those
first ten or twelve years you're retired. You know, it's
interesting talking to you because you and I have had
a number of conversations over the last couple of years
that we've spoken to each other. And one of the
things I do really enjoy about your message when it
(13:23):
comes to the way that you save and talk about
it is you talk about the quality of life a lot.
Speaker 3 (13:27):
You talk about the quality of what you plan.
Speaker 2 (13:29):
On doing as a human being a lot, rather than
just stockpiling money and turning it into this giant nest
egg that you never wind up spending, almost as if
it's a.
Speaker 3 (13:37):
Bragging point or an ego thing.
Speaker 2 (13:40):
What you're trying to tell people is, you know, while
you have mobility, while you have the ability to live
your life at the fullest, do that and then we
can figure out the other stuff when it gets to
be where you can't do that down the road. I
think that's a wonderful way to look at it, because
I don't know that financial advisors really do that. They
really just talk about stockpiling cash, stockpiling wealth and don't
really give you an idea of what you should be
doing with that or how to live your life.
Speaker 3 (14:01):
With it, or it's yeah, more more and more and
more and more, Well why why exactly why?
Speaker 2 (14:04):
Why?
Speaker 3 (14:05):
What is the utility?
Speaker 2 (14:06):
Like if you're if you're seventy and you're thinking, oh,
I don't really want to go on the trip because
you know, I have four hundred grand, and I wanted
to stay four hunder grand because if it's not four
hundred grand, then that's somehow bad your kids if they
have half a brain or the half a little bit
of decency, that could care less if you leave them
three fifty or four hundred. Right, Why are you saying
I don't want to take you know, I had I
hope he's not listening. But one of my favorite clients
(14:27):
came in today and I was on him because he's
taking a long flight and he's flying you know, he's
trying to get bulkhead, and I'm like, why aren't you
flying first class? Because he can afford to fly first class?
And he's like, I can't do it. What do you
why dude?
Speaker 3 (14:41):
What do you just want?
Speaker 2 (14:42):
As a feel like he deserves it? No, he just
it's well, first of all, I s ingrained in him.
He's a great savor. He's a very responsible, successful human being.
And I think there's a little bit of weird obsessiveness
that goes into that. And what I tell people here, yeah,
it's it's definitely a fear.
Speaker 3 (14:58):
But he's here. You've been if you've ever not had money,
you definitely don't want to be there again. I get it,
but I arm wrestle with these clients sometimes to say.
Speaker 2 (15:06):
Look, you know, well you know Scott or maybe in
a few years I'll do what Well, you're seventy three,
you might not get you know, remember that don't buy
green Banana's joke you always make. So keep that in
mind when you're trying to measure the utility of your
existing dollars. And remember anytime you want good advice or
you want to start a relationship with them, it's Edgewaterfamilywealth
dot com. You can actually go right there to the
pull down bar and the menu, make yourself a consultation,
(15:29):
or even call these guys. They'll have a short conversation
with you and kind of give you an idea of
If you can give them an idea of what you need,
they can give you a bit of a plan of.
Speaker 3 (15:37):
What can happen.
Speaker 2 (15:38):
Well, somebody just texted as Scout wondering if you would
be the person to talk to after inherit
I app has a lot of fun guys. We go
every year as a amusement operator. If you want any
cheap games, buy them up the floor because none of
those companies want to ship that stuff back to wherever
they came from.
Speaker 2 (00:24):
Welcome back to the Jim Bober Show. Roll Radio one
oh four point one. Thanks for tuning in today. We
appreciate that, as we do every single day. Give us
a like on the ar, give us a follow on
that iHeartRadio app. Make us your number one pre set.
Speaker 3 (00:35):
Pretty please, pretty pretty please? I'm Jim.
Speaker 2 (00:37):
There's deb check is here as well, so is Sausaddy Fashion.
Let's do its only money?
Speaker 3 (00:43):
Oh, people passionate about planning for the future. Rise above
investment myths to.
Speaker 2 (00:50):
Build real.
Speaker 3 (00:53):
Isn't that really just common sense financial advice? Oh? Okay,
own with your money? Wis Scott Thrown from Edge Family.
Good lady, Scott Brown.
Speaker 2 (01:08):
That's what Ourfamilywealth dot Com. A fiduciary in town for
thirty eight years, making sure you make good decisions on
your portfolio that can make you nice and comfortable for
the remainder of your existence.
Speaker 3 (01:20):
That's a specialty. How you done, buddy, I am fantastic.
Speaker 2 (01:23):
You are a.
Speaker 3 (01:23):
Fantastic thought out.
Speaker 2 (01:24):
Now, although I was listening to that fashion discussion, I
found that quite fascinating.
Speaker 3 (01:30):
Did you, I said, I said we should bring brown
in you. Yeah, yeah, because you make some good fashion tice.
You're a fashionable dude, I was. I'll tell you. I'm
gonna tell you this right now. I was best dressed
in high school?
Speaker 2 (01:39):
Were you really?
Speaker 3 (01:41):
That does not shock me? Yeah? I was. You know,
I'll tell you what you pull off quite well. What's right?
Speaker 2 (01:46):
You pull off casual, professional very well. I saw you
walking through publics or a store or whatever. I would
think that you're successful even though you had on like
jeans and maybe a pullover something like that, because you just.
Speaker 3 (01:59):
Look you air about how it fits. Yeah.
Speaker 2 (02:01):
I'm not a you know, I'm not a I do
wear suits obviously in my business enough, but it's not
my favorite thing. I don't love. It's not it's not
a look. I think I pull off better than casually.
I think I'm more of a casual person. Yeah, yeah,
I don't know if that makes any sense whatsoever. It
actually makes perfect Sen's a matter of fact, you came
in after a day where you had your suit on.
I think you had your dress shirt and your slacks on,
(02:22):
and you looked odd to me. Yeah, yeah, because I'm
so you know, I get it. I'm so you screen
you in your casual wear that you and professional wearing
a little odd.
Speaker 3 (02:31):
Yeah, and it's I've gotten to a state.
Speaker 2 (02:33):
You know, when you're young in this business or any business.
I guess if you're a white collar quote unquote professional,
you're expected when you're specially because I tell the young
guys like I'll walk in in my polo and I
have we have really nice polos, and I'm wearing my
doctors or whatever I'm wearing, and then I.
Speaker 3 (02:47):
See the next day all the young guys doing it.
I'm like, no, no, no, no, new new new new new.
Speaker 2 (02:52):
Let me explain. Check the business. You have to do
what I did when your early twenties. In my case,
wear the same blue suit every day. Yeah right, exactly,
no time had one different tide.
Speaker 3 (03:02):
Had one blue suit.
Speaker 1 (03:04):
Scott.
Speaker 3 (03:04):
Do you have a super big fashion No no, no,
no no. You know I was listening to all your
no no, no, no nos.
Speaker 2 (03:12):
The one I I would say is I don't love
the old man uniform, which is the baggy shirt like
they got it's kind of form fitting at the top
a little bit and then it gives up, but it
gives the belly like it's like becomes a tent of
some kinds over the guy's belly. It's like they sewed
it on you. And then when it got just blow
your boobs that look down and said I'm out. Yeah,
(03:33):
it's like I'm not I'm not gonna stick around for
this bottom part of the story. I don't want to
be here for that. Yeah, it just becomes a tenth
Like you feel like if it rained, you would just
get up under there and you'd be the big dudes
don't want it fitting down by their stuff. You can
see a big their belly button is right, especially in Florida.
It's a catch twenty two sure for sure. Yeah, so no,
(03:53):
I thought I thought you guys did a good job
on the on the don'ts. I mean, the other thing
I don't like is that kind of fifty sixty year
old guy who's you know, his shape isn't really what
it used to be, but he's got the tight form
fitting like athletic wear on you'll like still look like
yeah yeah, or that was or that shirt where he's
asking a lot of the buttons.
Speaker 3 (04:11):
Yes, yes, you're about to give up when the buttons
start to zig zag. You talking about off and shooting
you in the eyes.
Speaker 1 (04:21):
Yeah.
Speaker 2 (04:22):
Good. Well it's interesting because you haven't been here for
a couple of weeks. Your sun Bratcher was in and
I did a great job. By the way, what a
wonderful young man.
Speaker 3 (04:29):
Thank you. But you took a really interesting trip.
Speaker 2 (04:32):
Your daughter graduated from college, she did, and she wanted
to go to Antarctica.
Speaker 3 (04:37):
She did, so we went. We were there.
Speaker 2 (04:41):
I mean, the trip was about two thirteen days in total.
We were probably in Antarctica proper uh for about nine
or ten days, and it was it was crazy. It's
like the closest you can get, I think, based on
my travels to another planet.
Speaker 1 (04:54):
Yeah.
Speaker 3 (04:54):
Yeah, yeah.
Speaker 2 (04:55):
Matter of fact, you and I were switching text back
and forth right when you got there, because I said, hey,
whatever you do, just send me a couple of tech
just let me know.
Speaker 3 (05:00):
Because you got to fly to Miami.
Speaker 2 (05:02):
From Miami down to Buenos Aires, yep, and then from
there you get on a boat.
Speaker 3 (05:05):
Well you got to go from there to Yushuaia, which
is another three hour flight. So you you gotta want it.
Speaker 2 (05:11):
Like come to like you know, a like you know,
you get on Port Canaveral and three hours later you're
in Antarctica.
Speaker 3 (05:18):
It doesn't quite work like that. Sit in a nice market. Yeah, yeah,
I like that.
Speaker 2 (05:22):
Okay, So can you give us the explanation of why
this was a thing for her. I mean, most young
ladies would do that trip to Europe and said they'd
go to Greece and Rome and all those other things. Why,
I mean, why Antarctica of all places she could go.
She's weird for starters. Yeah, she's my child. Yeah, she's
always been an adventurous sort. Like, she likes to travel.
(05:44):
She she'll jump on a plane and go literally anywhere
if she can. And she she told me this, she says,
she told me this when she was four. I don't
remember that part, but I remember her graduating from high school.
It's whatever, eighteen years old, and she said, Dad, when
I graduate, she's off to Florida. When I graduate from Florida,
I want to go to Antarctica. And I thought, sure,
(06:04):
never remember that, She's not gonna want to do that.
And no, we went to Antarctica. So, yeah, that was
her thing she wanted to see. She had read about it.
She's a peg she's an animal person show. She likes
penguins and she wanted to see all and she got
to see lots and lots of very very smelly penguins.
Yeah smell.
Speaker 3 (06:23):
Yeah, Well they eat fish, the.
Speaker 2 (06:25):
Worst breath in the world they have, and you're not
supposed to get like they keep you from them, like
they're you can see them, but if one's coming towards you,
you have to back up. You have to keep ten
or twenty feet away from them, because the last thing
I want to do is interrupt what's going on in
our arctica for the animals. And in the wild, you
could smell them because I know at Sea World and
the Penguin encounter, you're in a room and so this
(06:45):
smell is is trapped there, but you can still smell
them out.
Speaker 3 (06:49):
Oh my goodness. Yeah, there's because you might be in
a colony.
Speaker 2 (06:52):
I don't know what they call them, they call them
something else, but you would be in a bunch of
penguins that it would be one hundred of them there,
one hundred and fifty of them, and they're and the
weird thing is they're so good in the water. That's
what they're built for. They're awful on I mean, they're
like like drunk old men, just constantly tipping over each other.
Speaker 3 (07:08):
The penguins, I know. Yeah, yeah, they're not they're not
good at the walking thing.
Speaker 1 (07:12):
It is it?
Speaker 2 (07:12):
A yeah, a colony, A rookery, I think that's right.
A rookery, says rookery, A wattle of penguins. I think
I heard it was a group of penguins on land. Yeah,
rookery is a colony. They raise the Yeah, where one
penguin nests and raise their young.
Speaker 3 (07:28):
So they had a bunch of nesting going on. It
was starting. They had begun that thing.
Speaker 2 (07:32):
Where they they get together in a group and they
and people the penguins will move towards the center as
they cycle them around. That's called a crash c r
E c h E.
Speaker 3 (07:42):
So we're learning. Okay, I'm gonna tell you, no matter
what you call it, it stinks. So what northern lights
did you see?
Speaker 2 (07:49):
I did not see northern lights that we did not see.
We saw whales, minky whales. We saw seals. We saw
crab eater seals. Okay, and we saw one leopard seal.
Speaker 3 (08:01):
Oh that's cool. Yeah, And they're the they're the badasses
of of the Seer popular.
Speaker 2 (08:05):
Yeah.
Speaker 3 (08:06):
Yeah, they will eat you.
Speaker 2 (08:07):
Yeah.
Speaker 3 (08:08):
They've got a human beings killed by those things. No way,
really yeah for really yeah, I just saw it.
Speaker 2 (08:11):
There's a video that went viral of a small one
hopping on a boat to get away from two orcas
or a team of orca is looking for it. But
I did want to ask also, so you go down there,
and you and I were exchanging text and you know,
actually just right before we came on the air, one
of the things that we were talking about during the
text is and you said, you know, you said, you
just feel small and kind of insignificant because there's there's
(08:33):
nothing to measure too, because it's so vast and there's
nothing down there. And I was telling you a story
about going to the top of the UH when we
went to Colorado one year. We went to the UH
what they call the Summit House out there in Aspen
and in June even there's snow up there, and we
went when you go out to that back porch, you
go to the back and you look out on the
rockies and there's nothing, no houses, no nothing, and you
actually it makes you feel odd inside because it's there's
(08:57):
so much space.
Speaker 3 (08:58):
Yeah, it feels weird, does that the same kind of thing?
Speaker 2 (09:01):
Yeah, you almost feel vulnerable, like you just you're kind
of like I'm in this, like I I've landed on
the moon, basically because none of the especially to a
Florida boy.
Speaker 3 (09:10):
Yea, yeah, like it doesn't doesn't even look make any sense.
Speaker 2 (09:12):
You've got eight six story icebergs floating by that are
bigger than your boat you're and I'm on a six
hundred foot long boat, I mean, and it's just it's
just bizarre. And like you said, if you you look
out across a cove and you think is that one
hundred yards away or five miles away?
Speaker 3 (09:29):
And then how far do you have to go across that?
Humanity again? Oh yeah, six thousand miles. Yeah.
Speaker 2 (09:35):
Yeah, it's a fascinating and it's a place, you know,
I look, like I told my daughter, it's a place
where ninety nine point nine nine nine percent of the
population will never see that, right.
Speaker 3 (09:43):
Yeah, it's just an amazing which is actually kind of good. Yeah,
it's good for them.
Speaker 2 (09:47):
And the other thing I learned about Antarctica that I
didn't know is there not that call it whatever you want,
global change, climate change, whatever you want to call it
on some mad An email, it's not occurring there. It's
because of the way the water not yet, because of
the way the water circulates and keeps it cool. They
do not have the destruction of their ice there that
they have up in the Arctic. I'll be down because
(10:08):
the Arctic's land bound and therefore the melting is occurring
at a considerably rapid more rapid and I didn't know
that he had to there was a naturalist.
Speaker 3 (10:15):
I stain to, Yeah, explain it to me. That's amazing
that either you think that would be everywhere around. Yeah.
I still have the picture of you up there. It's
so funny.
Speaker 2 (10:22):
You sit in the last picture of you and it
was a the boat with an iceberg floating next to it.
Speaker 3 (10:27):
Yeah, it's just insane. How you guys even got up there.
Speaker 2 (10:30):
Yeah, no, it was. I mean it's like, like I
said you, if I were to do it again, I
would spend more time in Argentina, which was cool.
Speaker 3 (10:36):
I only got to spend two days there. But uh
oh yeah they're fresh with a bunch of money. Now
you're good. Yeah, that's what I've got. Twenty million that
just landed in their lap. Not sure how that happened.
All right, let's actually talk about some some stuff.
Speaker 2 (10:47):
You're here for utility of money at the beginning of
retirement or even the end of your working year. It's
not really sure what you mean there. Well, I think
this is a good segue from what I did. So
I turned sixty one a few days ago. It's a
shameless plug for my birthday, so you know. And the
way I think about this is like a lot of
people say, well, I have five hundred thousand I've saved
(11:10):
or whatever it is, and me and me and the
wife or me and the husband, we have this much money,
and we're going to spend five percent of that five
hundred thousand, which is twenty five thousand a year, and
we need to spend that till where eighty five or
eighty seven or whenever we pass away. But statistically, we
know physically people begin to kind of go downhill where
they can't walk stairs, they can't get on and off
a bus or whatever they need to do to travel,
and that's about seventy eight. We know that's about the
(11:32):
median age where we slow down physically. If we're fortunate
enough to live that long, and I think people need
to think more about the beginning years of their retirement.
Speaker 3 (11:40):
So like, again, I'm sixty one, I'm not.
Speaker 2 (11:42):
Retired yet, but I know there is a chance that
sixty three might not come, or sixty eight might not come,
or seventy two could be a problem. I hope that's
not the case, and I try to take care of myself,
but it could happen to me. So I think the
utility of money is there's more utility in your retirement
dollars early from say I'll just make this up, but
I'd say from age sixty to seventy two, seventy three,
(12:04):
seventy four, I think you and rather than spend twenty
five thousand a year till you're eighty five, why not say, well,
we're gonna spend thirty five thousand from sixty to seventy
two because we know we can do more. We know
we're gonna be more physically able. Because what I find
with my clients is they whatever that age is, let's
call it seventy eight, once they get to that age,
(12:24):
the spending drops way off because now they're just they're
physically unable to go do go, go, get on what
I did. I traveled for twenty seven hours. Yeah, I'm
not doing that at eighty No, no way, I'm doing
that right. And I think the other thing to think
about is if you're still working. There's a lot of
people that come in my office and they are like, yeah,
I'm gonna retire in a year or two. I'm not
(12:44):
taking any vacation time because I want the money. You know,
sometimes you get paid off for your vacation days and
I'm like, well, you know, you got three or four
weeks of vacation, you're healthy, you do have the money.
Speaker 3 (12:55):
Why wouldn't you go Now, why are you saving that
for what? Eighty nine? When you're ninety you're going to
do this.
Speaker 2 (13:01):
So I think one of the things we try to
be responsible, and I think that's fair, but I think
sometimes we're overly thoughtful about spreading the money out over
our lifetimes rather than maximizing the utility, say in those
first ten or twelve years you're retired. You know, it's
interesting talking to you because you and I have had
a number of conversations over the last couple of years
that we've spoken to each other. And one of the
things I do really enjoy about your message when it
(13:23):
comes to the way that you save and talk about
it is you talk about the quality of life a lot.
Speaker 3 (13:27):
You talk about the quality of what you plan.
Speaker 2 (13:29):
On doing as a human being a lot, rather than
just stockpiling money and turning it into this giant nest
egg that you never wind up spending, almost as if
it's a.
Speaker 3 (13:37):
Bragging point or an ego thing.
Speaker 2 (13:40):
What you're trying to tell people is, you know, while
you have mobility, while you have the ability to live
your life at the fullest, do that and then we
can figure out the other stuff when it gets to
be where you can't do that down the road. I
think that's a wonderful way to look at it, because
I don't know that financial advisors really do that. They
really just talk about stockpiling cash, stockpiling wealth and don't
really give you an idea of what you should be
doing with that or how to live your life.
Speaker 3 (14:01):
With it, or it's yeah, more more and more and
more and more, Well why why exactly why?
Speaker 2 (14:04):
Why?
Speaker 3 (14:05):
What is the utility?
Speaker 2 (14:06):
Like if you're if you're seventy and you're thinking, oh,
I don't really want to go on the trip because
you know, I have four hundred grand, and I wanted
to stay four hunder grand because if it's not four
hundred grand, then that's somehow bad your kids if they
have half a brain or the half a little bit
of decency, that could care less if you leave them
three fifty or four hundred. Right, Why are you saying
I don't want to take you know, I had I
hope he's not listening. But one of my favorite clients
(14:27):
came in today and I was on him because he's
taking a long flight and he's flying you know, he's
trying to get bulkhead, and I'm like, why aren't you
flying first class? Because he can afford to fly first class?
And he's like, I can't do it. What do you
why dude?
Speaker 3 (14:41):
What do you just want?
Speaker 2 (14:42):
As a feel like he deserves it? No, he just
it's well, first of all, I s ingrained in him.
He's a great savor. He's a very responsible, successful human being.
And I think there's a little bit of weird obsessiveness
that goes into that. And what I tell people here, yeah,
it's it's definitely a fear.
Speaker 3 (14:58):
But he's here. You've been if you've ever not had money,
you definitely don't want to be there again. I get it,
but I arm wrestle with these clients sometimes to say.
Speaker 2 (15:06):
Look, you know, well you know Scott or maybe in
a few years I'll do what Well, you're seventy three,
you might not get you know, remember that don't buy
green Banana's joke you always make. So keep that in
mind when you're trying to measure the utility of your
existing dollars. And remember anytime you want good advice or
you want to start a relationship with them, it's Edgewaterfamilywealth
dot com. You can actually go right there to the
pull down bar and the menu, make yourself a consultation,
(15:29):
or even call these guys. They'll have a short conversation
with you and kind of give you an idea of
If you can give them an idea of what you need,
they can give you a bit of a plan of.
Speaker 3 (15:37):
What can happen.
Speaker 2 (15:38):
Well, somebody just texted as Scout wondering if you would
be the person to talk to after inherit
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