Retirement Ready with David Kopyc-Locking in Interest Rates!

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Episode Transcript

(00:00):
I'm always happy on Friday morning becauseI get the opportunity to speak with my
friend David Kopek. Now, youknow, David is the president of the
Retirement Planning Group, and David alsohas his own show on our sister station
eight ten and one oh three oneWGY that happens every Saturday morning from seven
to nine. Good morning, David, how are you, Jamie? Good

(00:21):
morning. It's Friday, and itlooks like we're going to have some sun
this weekend, so I'm optimistic thatI can get on my mower and do
some more. Yeah, I thinkyou and everyone in the Capitol region,
I think we're going to have aloud noise of mowing across the area.
So I'm looking forward to it myself. Let's jump in. Okay, I'm

(00:44):
hearing a lot about interest rates,things like that, yields continue to rise.
Is it now time to lock inhigher interest rates? You know,
I'll say, Jamie, there's onboth sides of the coin. There's the
good and the bad. Right asfar as with these higher rates, rates
of course or a negative for peoplethat are borrowing money, But for savers,
people that like safety and guarantees,it's actually a panta see a little

(01:10):
bit here, because you can getover five percent right now and guaranteed rates
five which which is very attractive.So the thing is is that for people
that are kind of sitting on thefence, because there's six trillion dollars in
money market accounts right now. Now, yeah, six trillion dollars, So

(01:30):
I would say, yes, now'sthe time. You can buy a treasury
US government bond for five percent.Right now, you can get guaranteed rates
and gigs for over five percent.You can get CDs and the five percent
range. So you know, dependingon how good you are as a customer,
some of banks are actually giving alittle bit higher than five percent.

(01:52):
So start sniffing around because I thinkpersonally, after doing this for forty one
years, the FED is going tostop, I think, very shortly,
and that usually means we're going tohead in the other direction now as as
far as lower interest rates. Sothis is when we really need to act
on this. And the options youwere talking about, that's what we should
be looking at. Yes, yeah. And the thing is is that one

(02:13):
of the things is that every oneof those options give you guarantees CDs for
two hundred and fifty thousand. Governmentbonds are back to the full faith and
credit of the US government up towhatever you put in, and then of
course gets guaranteed. Insurance contracts arebacked by the full faith and credit of
the company that's issuing it. Butthere also there's an additional five hundred thousand

(02:38):
dollars to protection through the State ofNew York. Wow, Okay, this
is so important and I'm guessing you'regoing to go in depth on this tomorrow
morning on a show great Yes,here we're going to talk about it.
And as always we accept phone calls. So if people are scratching their heads
trying to figure out what to do, well motivate, get out of bed

(02:59):
and give me a question. Listen. It's worth it. I listen to
David Show every single Saturday. Itis truly worth listening to. You get
so much great information. Again,that's airing tomorrow morning, Saturday morning from
seven to nine on eight ten andone oh three one WGY. And if
you want to talk to Dave personally, you can give him a call at

(03:20):
five one eight five eight zero onenine one nine, or of course on
the website at rpgretire dot com.RPG retire dot com David, thank you
so much Man. Always good totalk to you. Jamie, have a
great weekend, Darlin. Bye bye