Retirement Ready with David Kopyc-Locking In Guaranteed Rates

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Episode Transcript

(00:00):
Friday is always a good day forso many reasons, one of which is
I get to talk with my friendDavid Kopec, president of the Retirement Planning
Group now Dave as his own show. We talk about it all the time.
It happens Saturday mornings on our sisterstation eight ten and one h three
one WSU. I have got tocheck it out. Good morning, David,
how are you, Jamie, Goodmorning, Sunny Friday. We love

(00:24):
Italy. I'm going to pray thatit stays this way like that. I'm
gonna pray that it stays this way. Look at that. You're like,
oh it, I love it,genius. Can we make a song out
of that? I think you coulddo it. I think you can get
a hit. We'll see what wecan do. Yeah, I hope the
sun hangs around because I feel likewe've already gotten enough rain. But I
don't think our wishes are going tohell. I know that my pool has

(00:47):
told me that we have enough rainbecause I've had it empty at like three
times in the last week because it'slike overflowing. So yeah, no,
you and me both, I knowit's been a little crazy. So well,
we'll see how it goes to afternoon. But right now I really want
to talk about guaranteed rates and whetheror not now is are the right time

(01:07):
to lock in some guaranteed rates,because I know the Fed is meeting to
discuss interest rates this month. I'veread about that. Ye are they going
to stop the rate hikes? Therate hikes? The consensus on Wall Street
is yes, this will be thelast one and then they're going to pause
and they're going to wait and see. A lot of Wall Street is basically

(01:30):
saying that they're not going to raiseanymore. This is it. So if
that's the case, Jamie, alot of these rates that are currently out
there are probably at their peak.You know, you can get a guaranteed
rate, you know, whether it'sa CD, a government bond, you
can go through the whole laundry list. Yeah, of five percent or more
right now. If you're into corporate, if you're in the corporate bond marketplace,

(01:53):
which a lot of pensions invest theirmoney in corporate bonds, you get
anywhere from six to eight percent wowrate oh yeah, oh yeah. So
the thing is is that if you'resitting on the fence saying I'm gonna wait
a little bit longer, you know, because I think we can get a
little bit higher rate. Don't dothat, you know, when the opportunity

(02:14):
presents itself, strike go ahead,a cop because I'm in the camp that
I think that we probably are atthe peak. So now is the time.
Lock it in, stick with itand yeah, okay, all right.
And you started talking about some ofthem, but what type of guarantees
are available? You talked about afew of them. Well, you know,

(02:34):
I had a guy that was inhere in my office yesterday, older
gentleman is adverse to risk, andhe's really concerned about the banks as far
as the FDIC. If you buya treasury bond, an obligation of the
US government right now one year paper, you're getting about five point four percent
guaranteed with a treasury bond. SoI said to him, So I said

(02:57):
to him, I said, youknow what, you want to sleep at
night. You want to be ableto allocate more than the two hundred and
fifty thousand dollars. And he said, yeah, he just sold property and
he's got about three hundred and eightythousand dollars. He said, you know
what, let's buy a treasury bond. You don't have to worry about it.
You get five point four percent,then we'll reevaluate it again in a
year. Wow. Wow, allright, so there are different options.

(03:20):
I mean, it's clear that weall need to talk to you or our
financial advisor and get on top ofthis. Now is the time to do
it and not let this opportunity slipby. I'm guessing you're gonna go more
in depth on this tomorrow morning.On your show tomorrow morning, we're gonna
be talking about safety guarantees and theoptions that are out there currently in the

(03:43):
marketplace. And one thing we're goingto be talking about, Jamie, reverse
mortgages. We're going to talk aboutnext our next show, because there's a
lot of people out there that areutilizing the reverse mortgage as a piggy pang
getting money that's just sitting there,that's dead money, the equity of their
home and utilizing it for trips,vacation, healthcare, whatever. All right,

(04:04):
Wow, I'm going to be listeningto that. Okay, that's tomorrow
morning. Make sure you're listening tomorrowmorning seven to nine on our sister station
eight ten and one oh three oneWGY. And just like what you were
talking about now is the time totalk to someone about all this, and
you can talk to Dave. Justgive him a call five one eight five

(04:24):
eight zero one nine one nine,or just go online RPG retire dot com,
rpg retire dot com. David,thank you so much. I'll be
listening tomorrow. I appreciate you brother. Have a great weekend. You two.
Jamie God bless by Buck