Retirement Ready with David Kopyc-Getting Financials Ready for the Fall

None

Episode Transcript

(00:00):
Fridays are always a good day becauseI get to talk to my friend David
Kopeck, who is president of theRetirement Planning Group. Now, you know,
you can listen to Dave in depthduring his own show tomorrow morning on
our sister station eight ten and oneoh three one WGY. It happens from
seven to nine. Good morning,David, how are you, Jamie,

(00:21):
It's Friday. Good morning. Hopefully. I think we're going to have some
sunshine this weekend, so that's good. Yeah, it looks like tomorrow we're
keeping our fingers cross that main staysaway and we'll have I got everything crossed,
my fingers, my legs, everythingis crossed. We need it.
We needed the summer. We needit. And you know what, speaking
of summer, we are it's hardto believe at the end of summer,

(00:46):
and you know, summer is atime when we like kind of go I'm
not going to take care of anythingimportant. We're going to have some fun
for the next three or four months. But fall is coming up. I
mean, it's really not all thatfar away. So what do we need
to do to get done to getour financials ready immediately? Well, I

(01:07):
think the big thing Jamie's You're absolutelyright, get it out of your system.
You got a couple couple more weeks. But when the clock strikes midnight,
you know, the day after laborday, that usually means people get
back to work and they get seriousnot only about their jobs but also about
their financial conditions. So you know, basically take stock of where you are,

(01:30):
where do you stand year to dateas far as your overall investments and
your savings plan, because we're allquite well aware, you know, we
have undersaved for years as a society. And the thing that's scary to me,
Jamie, is that now we havethe highest level that we've ever had
in credit card debt. It exceedsover a trillion dollars right now. Oh

(01:52):
my gosh, that is insane.Holy. So the thing is is that
if that is the case, you'reba basically dancing with the devil. And
what I mean by that is thatit's snowballs. You know, you start
using your credit card because the money'sgoing to commit, especially for people that
say that are in sales or commissiontype of jobs. And then guess what,

(02:15):
the deal doesn't come through, youdon't have the money, and now
you're sitting with eight, nine,ten, twelve thousand dollars on a credit
card, and that to me isa cancer. That's something that could basically
not only erode yourself confidence, itscrews families up. It just has a
devastating effect. So don't get yourselfinvolved in credit card debt. Yeah.

(02:38):
I couldn't agree with you more.You know, as a younger person,
I did, learned my lesson,got out of it and never ever ever
again because it is what you said, It is a cancer. It takes
over everything. Yeah, And thething is is that, you know,
the problem today is that you know, I've got an eighteen year old daughter

(02:59):
that's going to college and next weekshe leaves to go to Lemoyne and she's
already receiving credit card applications in themail. Yeah. That that is scary.
And thank god she has you asher dad to tell her to stay
away from all that. But alot of kids don't have that and end
up getting into trouble. Yeah.So the thing is is that be aware

(03:21):
where you stand, take a deepbreath. If you need another week or
so to basically get it out ofyour system and have some fun, get
it out. But like I said, after Labor Day. That's time to
take stock where I am, whatI need to do, not only as
far as your own personal financial wellbeing, but also where you stand as
far as your overall retirement planning.You know, are you putting enough money

(03:43):
away? How's your portfolios doing?And call your financial advisor because that's what
they're there for. Amen. Amen, And I'm guessing you'll talk more about
this in depth tomorrow morning on theRetirement Planning Show. Yes, ma'am,
all right, we look for ortwo it don't forget. You can listen
to David every Saturday morning from sevento nine on our sister station eight ten

(04:06):
and one oh three one wg Y, and you can contact David to talk
about all of this five one eightfive eight zero one nine one nine,
or just check them out online RPGretire dot com, rpg retire dot com.
David, thank you so so much. I so appreciate it. I

(04:27):
hope you have a wonderful weekend.You two, Jamie Doublass by bye