August 8, 2025 • 47 mins
Christy Smith, founder of Presley Wealth Management and Matt Kennedy, investment adviser representative, discuss issues that affect your retirement planning and how you can build a plan to help reduce risk and implement wealth accumulation strategies. Learn more at presleywealthmanagement.com and then, if you would like to have a conversation around your specific situation, set up an appointment online at meetwithusnow.com or by calling (225) 791-5773.
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Episode Transcript
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Speaker 1 (00:00):
When the news is national.
Speaker 2 (00:01):
SOB, security system molatility, global turmoil, interest rates, Rock.
Speaker 3 (00:04):
Dane, Wall Street, Your money matters. When it's Louisiana local
serving the Greater Baton Rouge area, your money matters. And
when it's your time to retire. Presley Wealth Management presents
your Money Matters with Christy Smith.
Speaker 2 (00:20):
In reality, we're always going to have positives and negatives
going on in retirement. And that's where I believe it's
so important that you do have a full pledge retirement plan.
Speaker 4 (00:30):
And Matt Kennedy, maybe you're thinking, hmm, should I take
Social Security at sixty two, at sixty seven, at seventy
These are things you don't do every day.
Speaker 5 (00:38):
It's what we do every day.
Speaker 3 (00:40):
The conversation starts now this is your money Matters.
Speaker 5 (00:49):
Welcome to your money Matters.
Speaker 1 (00:51):
I'm Mark Elliott here with Matt Kennedy, an investment advisor
representative any certified as day planner, with the team at
Presley Wealth Management, Christy Smith. The found are a Pressley
Wealth not here right now might make it in We'll
find out in the next segment, I suppose. But if
you have any questions about where you are on that
road to retirement. Can I retire? How does this big
beautiful bill affect us? A lot going on? That's what
we're going to talk about this morning. But the number
(01:13):
to talk with Matt, Christy and the team at Presley
Wealth is two two, five, five three sixty three eighty nine.
No cost to you whatsoever. All right, Matt, welcome, glad
to chat with you as I am every week on
the program. Christy may or may not show up here
in the next segment. We'll find out. But the Big
Beautiful Bill, A lot of people think it's a big
beautiful bill. Others not so happy with it. I guess
(01:35):
what's your initial take? I'm sure now you've had time
to read the nine hundred plus pillages, all.
Speaker 4 (01:40):
Nine hundred plus pages. Absolutely I have. Yeah, So what's
your take on it?
Speaker 1 (01:44):
I mean, obviously it's about the tax rates and brackets
staying permanent. Now we know permanent is with exclamation points,
meaning maybe.
Speaker 5 (01:52):
It depends on the next administration.
Speaker 4 (01:54):
Well, listen, you don't even have to take a political
side here, Mark, you don't have to be pro Trump
or anti Trump to acknowledge that it's the facts. I mean,
it's what Congress passed, and so it's the law, at
least for a.
Speaker 5 (02:08):
While some of it.
Speaker 4 (02:09):
So the BBB, the Big Beautiful Bill, it is really
a massive gift for retirees for a short period of
time until the end of twenty twenty eight. It opens
a window for significantly lower taxes, especially for those of
you sixty five plus. So, I mean there's things in
(02:29):
there that some would say are maybe advantageous or disadvantageous
depending on your income level for those underage sixty five.
But as you were telling me Mark before we started,
for you, I'm sixty five.
Speaker 1 (02:42):
Gift makes a huge difference, right, It's right in my
wheelhouse because I didn't even know this, and I'm divorced,
so I'm single, which means I have the fifteen thousand
dollars standard deduction, but that got cranked up to fifteen
seven fifty then I didn't even know a sixty five
already had a standard deduction built in of two thousand.
Didn't even know that I knew this one put an
extra six thousand in there. So as a single person,
(03:04):
my total standard deduction is basically twenty three thousand, seven
hundred and fifty. That can make a difference in huge difference, right, married,
if you're over sixty five at both and the couple are,
your standard deduction goes all the way up to forty
six thousand, seven hundred. Right.
Speaker 4 (03:18):
I'm gonna do some math when we get a little
deeper into this segment, because if you're sixty five plus married,
filing jointly and have Social Security, it really makes a
massive impact. More on that in the moment. Let me
walk through the key points from the new tax law.
Number one, you mentioned that the tax brackets of ten percent, twelve,
twenty four to thirty two, thirty five, and thirty seven
(03:39):
those brackets from the twenty seventeen tax cuts. They're now
made permanent permanent needs an asterisk. Next administration can make
them unpermanent, right, but they are considered to be permanent
at this point.
Speaker 1 (03:52):
Which means Congress has to make a new law to
change that.
Speaker 4 (03:56):
Right because had the law not passed then I believe
at the end of this year or next year, the
end of this year and jobs, we were going to
go back to the higher brackets. Okay, and you mentioned
the standard deduction. You're right, So if you're a married
couple filing jointly under the age of sixty five your
standard deduction thirty thousand, the new standard deduction thirty one
(04:21):
thousand and five hundred, and that goes into effet retroactive
to January first, so it's in effect for this year.
Speaker 1 (04:28):
Now.
Speaker 4 (04:29):
They're calling it the bonus deduction. Mark, I'm just kind
of recapping what you said. So, if you're sixty five
or older, under the old law, you got the two
thousand dollars extra deduction.
Speaker 1 (04:42):
Yeah, as single, but married it's sixteen hundred, and then
per person, yeah right, it's thirty two hundred.
Speaker 4 (04:47):
Yeah, and you did the math. And so under the
new law, this new bonus deduction, by the way, two caveats,
it is higher. It's six thousand per person twelve thousand
for the married couple filing joint. Now here's something very important.
It doesn't take away this. It doesn't take away what
you were getting. So if the married couple, if you
(05:09):
were getting the sixteen hundred, it's the sixteen hundred plus
the six thousand on top of that. And like Mark,
like you said, for a married couple filing jointly, the
new total standard deduction if your sixty five plus is
forty six thousand, seven hundred, but two things denote two
caveats Number one, this is only temporary.
Speaker 5 (05:33):
It expires at the.
Speaker 4 (05:34):
End of twenty twenty eight, so it's about three and
a half years from now, right.
Speaker 5 (05:38):
And it also is phased out.
Speaker 4 (05:41):
So you mentioned the single deduction mark that begins to
phase out if you earn above seventy five thousand dollars,
and if you're married filing jointly, it phases out when
you earn one hundred and fifty thousand dollars or more.
Speaker 5 (05:54):
It begins to fade out.
Speaker 4 (05:55):
Okay, even if you're not sixty five plus, just the
increase in this and deduction alone and then some of
the other things that they've passed really create an opportunity
for you to consider conversions, converting forever taxable money into
forever tax free money. But if you're sixty five plus,
(06:15):
not working and living on Social Security, it may be
the optimal time. And we can show you with our
tax planning software exactly how much money it would cost
you to, you know, to take advantage of this law
by doing certain kind of conversions, but also how much
it will save you and your children your legacy in
(06:36):
the long run. If you're interested to reach out to
us at two two five five two three sixty three
eighty nine. You can send a text if you'd like to.
If you text the word visit to that number, we'll
give you a call back Monday and set up a time.
Or you can just call us and leave a voicemail
and say, hey, I want to learn more about the
tax code and how I can help me with my taxes.
Two two five five two three sixty three eighty nine
(07:00):
nine two two five five two three six three eight nine.
Speaker 5 (07:04):
That's the biggie mark. There's more I'll cover, but that's
the biggie.
Speaker 1 (07:07):
Yeah, certainly. And we know that the tax rates and
the brackets are now permanent until another administration or another
Congress decides to change that. The standard deduction, the six
thousand for those, uh, that one is expiring, as you said,
at the end of twenty twenty eight. No tax on tips,
no tax on overtime. Those also expire after twenty twenty eight.
And there are dollar amounts with those as well. Right. Obviously,
(07:29):
it did a lot for the border, it did a
lot for the military. I guess the overall take for
me is that, Okay, the tax things now finalize, which
now helps you and Christy and the team of Pressley
Wealth try to figure out how to help people now
because now you have a you kind of know you
have the next four.
Speaker 4 (07:45):
Or five years to do something. Yeah, it makes a
huge difference. You mentioned overtime pay, and with this I'll
give you the caveat check with your human resources department.
There were some very specific rules about what actually counts
as overtime. There are very specific definitions of which employees
this this applies to. But in the past, obviously overtime
(08:07):
pay was tax like regular pay, drove your income higher,
probably drove your taxes higher. Under the new law, through
the end of twenty twenty eight, you can now deduct
up to twelve thousand, five hundred dollars per taxpayer with overtime. Well,
what if you've got a married couple where one works
and the other dozen't. You could still take twenty five
(08:27):
thousand as the deduction even if the other person isn't working.
But again, check with your human resources department. Mark, do
you want a new car?
Speaker 1 (08:36):
How about that?
Speaker 5 (08:36):
Yeah, how about that? You can now deduct that's.
Speaker 1 (08:39):
Through twenty twenty five through twenty twenty eight as well.
Speaker 5 (08:41):
That's correct.
Speaker 4 (08:42):
You can deduct up to ten thousand dollars of interest
on a new car loan. You don't even have to
itemize to do it, because that's always been the thing. Well,
I would take some of these deductions, but I have
to itemize it. Not with this, you don't have to itemize,
and you can still deduct ten thousand of interest on
new loans. The caveat there being in the car must
(09:02):
have its final assembly in the USA, so check with
the dealership. Here's a biggie charitable contributions. Once upon a
time you could write off your charitable contributions if you itemized,
so a lot of people. Because the standard deduction got
bigger and bigger, people quit itemizing. Now even if you
don't itemize, you can write off one thousand dollars to charity,
(09:26):
or two thousand if you're a married couple filing jointly. Now,
that does not start until next year. That does not
go into place for this year. I would be remiss
to not note that it absolutely increases the deficit. It
is more spending with the hope is that by stimulating
the economy, we will help grow ourselves out of the
(09:47):
deficit situation.
Speaker 5 (09:49):
Mark only time will tell.
Speaker 4 (09:51):
But for you, it's a three and a half year
window to make massive improvements to your future tax burden,
especially if you're at the cusp of or in retirement.
Let's show you how much money it really could put
back in your pocket. Two two five five two three
sixty three eighty nine. Reach out to us UH call,
(10:11):
leave a voicemail, or text the word visit to two
two five five two three sixty three eight nine.
Speaker 1 (10:19):
The state taxes have changed as well. We'll talk about
all of this as we move down the road weeks
down the road, but we're going to find out new
parts of this thing all the time. So we're just
getting started on your money matters with Christy Smith and
Matt Kennedy. More right after this, you.
Speaker 6 (10:34):
Listen to Christy Smith and Matt Kennedy on the radio.
Now go in and talk with them in person. Let
them help you retire with confidence. Two two five five
two three six three eight nine, or go online to
Presleywealthmanagement dot com.
Speaker 2 (10:52):
With chaos on the news and uncertainty in the markets,
are you worried that your retirement savings could be at risk? Hi,
this is Christy Smith with Presley Wealth Management. Tariffs trade
wars and a shaky stock market have left many retirees
asking what's next for my financial future. If you've been
asking that question, it's time to take action. Come sit
(11:12):
down with me and my team so that we can
review your financial plan and help make sure that you're
prepared for the challenges ahead. Just call two two five
five two three six three eight nine for a free visit. Together,
we'll create a strategy to help you preserve what you've
worked so hard to build. Don't wait. Call me Christy
Smith at Presley Wealth Management at two two five five
(11:34):
two three six three eight nine to schedule your visit.
There's no cost to meet, but my calendar is filling
up fast. Called two two five five two three six
three eight nine.
Speaker 6 (11:46):
Investment Advisory services offered through AE Wealth Management LLC, a
registered investment advisor. Presley Wealth Management is ready to help
answer your questions and guide you as you make decisions
about coverage. Paul to talk to the Presley Well team
two two five five two three six three eight nine.
(12:07):
That's two two five five two three sixty three eighty nine.
Speaker 1 (12:13):
Welcome back to your money Matters with Christy Smith and
Matt Kennedy. Christy not here today. Christy started Presley Wealth
Management back in two thousand and six. Matt joined the
team back in two thousand and eight. That means they've
all been together during the Great Recession and people get
nervous about how their money is going to How do
we make sure our money is going to last? Right?
We don't want outlive our money. It's still the number
(12:35):
one fear. People fear running out of money before running
out of life more than they actually fear running out
of life. So you need a plan, and this smart
process that Christy, Matt and the team of Presley Wealth
can walk you through might ease your stress level because
you actually have a plan. You're not I think we're
gonna be okay. I hope we're going to be okay.
You actually know how you're doing. Two two five five
(12:57):
to two three sixty three eighty nine is the number.
Two two five five two three sixty three eighty nine.
I'm Mark lay glad you're with us today. Uh, Matt,
you know one of the things that I think is
always fun because we're old. I'm old, right, I'm sixty five.
You're not that old yet.
Speaker 5 (13:12):
You ain't old. Sixty five is an old hush, I'm
right behind you.
Speaker 1 (13:16):
The dad jokes. I appreciate dad jokes. Do you like
dad jokes?
Speaker 5 (13:19):
I love dad jokes. Here, I love them.
Speaker 1 (13:21):
Here's one for you. Why don't eggs tell jokes?
Speaker 5 (13:26):
Why don't eggs tell jokes?
Speaker 7 (13:28):
Right, no clue they might crack up. Oh nice, that's
a good one. I like, I'm gonna I'm gonna store
use that. I'll use that when it's some future date.
Speaker 1 (13:38):
You bet you're gonna use that at all the seminars
you always yes, hold over dad joke, that'll go over great.
Uh So, all right, this these next two segments. I
think this is one of the Because I am sixty five,
you would think I would know some of this investing stuff.
I don't. So I love doing the show with you
and Christy because I'm gaining knowledge all the time. But
(13:59):
I've always I always in the sports world, so I
never paid much attention to the financial world. I don't
watch the news very often. I mean, I might catch
if something happened, I might watch it right right, but
I don't. Just I'm not glued to my phone to
see what's happening.
Speaker 5 (14:12):
I don't.
Speaker 1 (14:13):
I'm not glued to my phone to watch the markets.
I'm one of those passive investors I think is what
you would say, put the money in the four oh
one k, don't even know how it worked, and just
let her go and hope for the best. Because I
don't have the skill or the knowledge to be able
to make adjustments when it's needed. So that's where a
team like yours, Op Pressley Wealth Manager comes in to
help kind of guide us. So that's what we're going
(14:33):
to talk about, active versus passive investing. I think I
am a passive investor because I don't know enough right
to make any of those decisions. I have friends that
love getting into the market, and they love trying to
moving this and that and all of that talk about
active investing versus passive investing because I think when people
(14:53):
when you say we're going to create that plan for
whomever we're sitting down with, right, everybody, no cookie cutter
planning here at press Wealth Management. It's about whomever you're
sitting down with, what do they need, how can we
get it for them? And all of that. But it's
not like your day traders either. I mean, so there's
a can you explain active versus passive investing.
Speaker 5 (15:12):
Let's do that.
Speaker 4 (15:12):
So the vast majority of people, I think most of
you listening are are passive, probably especially if you're working,
because you nailed it if you're putting money into a
four to oh one K or a you know four
oh three B or.
Speaker 5 (15:24):
A simple IRA.
Speaker 4 (15:26):
But basically if you're if you're participating in a workplace
plan where you add money, say every paycheck, that that
certainly is passive. You say, wait a second, I'm actively
putting money in. But when when you hear the phrase
on CNBC or Fox Business active versus passive, that typically
dictates how the fund is being managed.
Speaker 5 (15:47):
So let's say that you picked you're.
Speaker 4 (15:49):
In the t row Price fund because you have a
t row Price four O one K for example. So
let's say you have the twenty thirty fund. Well, that
means that that fund is designed for someone who is
retiring in the year twenty thirty. Prior to the Great
Financial Crisis of two thousand and eight two thousand and nine,
we really didn't have what are called target date funds,
(16:11):
and so that's a form even though you're actively putting
money in, that's actually kind of an active fund.
Speaker 5 (16:17):
Here's why the closer you get.
Speaker 4 (16:19):
To twenty thirty, the more bond funds you'll have and
the fewer stock funds. So the account quote unquote automatically
reduces your risk.
Speaker 5 (16:31):
Now, there are still lots of risk and bond funds.
I don't want to discount that.
Speaker 4 (16:34):
But the goal is that it's an actively managed account
to help lower risk as you get closer to retirement. Now,
if you have let's say your four oh one k
is with Vanguard, and you have the Vanguard S and
P fund, well that's passively managed. What do I mean
by that, Well, you're actively putting money in, but the
account does nothing to mitigate stock market risk it's going to.
(16:58):
That account is designed to mirror the S and P
five hundred, or maybe you have the let's say the
Vanguard Total Stock Market Mutual Fund. Again, if the market
is good, it'll make money. The market's bad, you'll take
a big loss.
Speaker 1 (17:14):
Because I think that's really one of the challenges because
I think people because we all hear about oh the
day traders, that is not what Presley wealth management. You're
not doing that. That is a whole different ballgame. There
isn't it.
Speaker 4 (17:26):
As a matter of fact, we actually want to be
fairly passive with your retirement portfolio. Now, let me explain
that doesn't mean we're not watching it. I mean we're
not keeping an eye on it. But I mentioned this
last segment. I'll mention it again. When we think of
helping someone diversify, that's such an overuse word. But when
we think of helping someone diversify their portfolio in preparation
(17:48):
for retirement, mark, we become very aware of something called
sequence of returns. I know I'm kind of hitting you
with a fire hose here, but stay with me. So
you pick up the phone and say, Matt, I'm sixty.
We'd like to sit down to meet with you or
Christy or April. Hey, I'm going to retire in two years.
The first thing that jumps out at me is you're
(18:09):
on an airplane and the airplane is approaching the airport.
Speaker 5 (18:14):
Now, mark the last time you flew. Did the pilot
say hurry up, hurry up, throw.
Speaker 4 (18:19):
Your trade tables, that we're landing in five minutes, and
then the pilot puts the plane in a nose down mode.
Speaker 5 (18:24):
And quickly lands. That's not how it happened.
Speaker 4 (18:26):
Right, No, thirty minutes out from the airport, Oh, they're
gonna come through the cabin and pick up the last
bit of the trash. Please put your trade tables up.
Planning for retirement's no different the three years before and
the three years after you retire. Listen, if you hear
nothing else, I say this entire hour. The three years
(18:48):
before you retire and the three years after retire. After
you retire, can I have the they can have the
most profound impact on your retirement. I know this because
I saw what happened with people who were planning to retire,
let's say in twoenty ten, and their four to oh
one K, which was passively managed for the most part,
(19:10):
got wiped out, and that sequence of returns was bad.
The sequence of returns is how the stock market behaves,
say in the two to three years before you retire,
and if you're aggressive and you're lucky and the market's bullish, great,
But if you get nailed by the bear market, not
so good.
Speaker 5 (19:26):
So how do we how do we mitigate that? Again?
Roof walls and floor.
Speaker 4 (19:32):
Our proprietary planning system looks at your sources of income,
how much medical and medicare costs, things like that. Have
you done your advance planning? What about risk management and taxes.
But that are is so important because if you walk
in the door and you tell me you're retiring at
the end of this year, one of the first things
we're going to do is work to bring down your risk. Now,
(19:53):
if the market continues booming, that means we may leave
some gains on the table, but we want to diversify
and such a way, not through you know, trying to
knee jerk react and jump in and jump out of
the market, but build a plan that has some aggressive money,
some money that can be moved into or out of
more or less risk based on what we call active
(20:15):
money management. But then we need some money, especially the
money that will provide your income to be in a
situation where you can't take a market loss. You can
share in market gains when things are good, but you're
not risking that money.
Speaker 5 (20:30):
You're not taking a loss.
Speaker 1 (20:32):
Would it be fair to say, though, that most probably
have more risk than they realize.
Speaker 5 (20:37):
Yes, it was.
Speaker 4 (20:40):
It was much more prevalent before the so called target
date funds came along. But you know, if you're opting
into a fund that has a set date like twenty
twenty five or twenty thirty, that helps, But in twenty
twenty two it didn't work very well. As a matter
of fact, many people saw their For example, they're twenty
(21:01):
twenty five fund lose more than the S and P
five hundred because stocks and bond funds plummeted because interest
rates were jumping so fast. And there are ways to
even avoid having a bond fund or a bond market
meltdown in the face of volatile interest rates. But you're right,
for the most part, most people are taking on too
(21:22):
much risk. You want to know why, Mark, because you
went to work and you picked four funds that your
friends told you about in your four to oh one K,
and you've left it alone for thirty three years, and
you know what that total market and that total bond market,
and that international fund and maybe that MidCap fund. They've
all done great because you've just weathered the storm. But
(21:44):
you can't stay at that much risk when you're heading
into retirement. So what I would tell you is, don't
get overhung up on active versus passive. Be active about
finding out how much risk you have and building a portfolio,
which is what we do to help mitigate the risk.
It can actively work to mitigate the risk as you
(22:05):
head into retirement.
Speaker 5 (22:06):
So here's how we do it.
Speaker 4 (22:08):
First thing we do is spend a little bit of
time on the phone with you, just getting to know
your situation. Then we sit down face to face, no cost,
no obligation visit and we're going to walk you through
our smart plan. We want to find out where are
your sources of income to help you determine we have
enough money to make.
Speaker 5 (22:25):
It through retirement, how long will it last.
Speaker 4 (22:28):
We're going to look at medical cost if you're retiring
before age sixty five, and if you're retiring add or
beyond age sixty five, look at medicare. Explain the abcs
of medicare, SMA, Advanced planning, have you done the wills
to trust, the powers of attorney? What is your situation,
what do you need? And then of course risk management
and tax planning. Here's how we do it. Shoot us
(22:49):
a text if you would like, you can simply text
the word visit to two two five five two three
sixty three eighty nine. That's two two five five two
three sixty three eighty nine. Shoot the word visit and
we'll get back with you Monday and set up a
phone call to get the ball rolling Now. If you
(23:09):
prefer to call, you can do that too. Two two
five five two three sixty three eight nine. That's two
two five five two three six three eight nine, and
you'll get a voicemail. Leave some information there. We'll get
back with you and help you begin understanding how much
risk you have, how active you need to be in
setting up your plan for retirement.
Speaker 1 (23:30):
So we're talking active versus passive investing. So we have
more with Matt Kennedy op Presley Wealth Management right after
this on Your Money.
Speaker 6 (23:37):
Matters text book to two two five five two three
six three eight nine to get an instant download of
chapter one of Christy Smith's book, Unlock Your Smart Plan.
That's book to two two five five two three sixty
(23:57):
three eighty nine.
Speaker 5 (24:00):
A quarter twenty five cents, that's hardly anything.
Speaker 4 (24:03):
Right ah, But at Presley Wealth Management we see quarters
a little differently. A quarter is a lot when it's
a quarter.
Speaker 5 (24:10):
Of your retirement savings.
Speaker 4 (24:11):
So do you want to pay twenty five percent or
more in taxes during your retirement? At Presley Wealth we
help create a plan to help you address taxation. If
the only time you think about taxes is when you
file them, you don't have a tax strategy, but it's
not too late to get one. Act now to make
sure you're not paying a quarter, dime, or even a
penny more than you should, call Christy and the team
(24:32):
at Pressley Wealth Management at five two three sixty three
eighty nine.
Speaker 5 (24:36):
That's two two five five two three six three.
Speaker 4 (24:39):
Eight nine to schedule your personalized tax strategy session. A
quarter saved as a quarter earned so called two two
five five two three sixty three eight nine. That's two
two five five two three sixty three eight nine.
Speaker 6 (24:52):
Investment advisory services offered through AE Wealth Management LLC. A
registered investment advisor firm, may not give tax advice. Text
visit to two two five five two three sixty three
eighty nine to set up your complimentary meeting with the
Presley Wealth Management team. That's a visit to two two
five five two three sixty three eight nine.
Speaker 1 (25:17):
Glad you're with us today for your money matters with
Matt Kennedy of Presley Wealth Management. Christy Smith, the founder
of Presley Wealth Management, started the company in two thousand
and six. Christy not with us today, but Matt, he's
an old radio guy. He can handle this show for us. Uh,
I'm Mark lay glad you're with us Presleywealthmanagement dot com.
If you'd like to learn more about Christy Maatten the
team Presleywealthmanagement dot com. You can always give him a
(25:38):
call fee you have questions, and if you'd like a
chapter of the book, you can always text book to
two two five five two three sixty three eighty nine.
They'll just send that right to you. Two two five
five two three sixty three eighty nine. Christy's written a
great book about retirement and kind of the smart process
that they walk clients through. Really, it's just a little
about retirement planning. Two two five five two three sixty
(25:59):
three eight nine. We're talking active versus passive investing. Most
of us are passive investors. We just put it in
the four oh one k let her ride and hope
it all works out. And it's worked out pretty well
for most. The problem is when you get closer to retirement.
Matt talked about sequence of return to risk. But if
you're retired in two thousand and seven, you might have
had a tough time retiring because the market went down
(26:22):
right after you're retired. But those things are always going
to happen, so you need a strategy because Matt and
Christy can't guarantee you the markets will be up when
you retire. So that's where the strategies come in to
really help us make sure and have that feeling of
less stress. We're not worried about running out of money
before we run out of life. It's about a strategy,
and that's certainly what Christy and Matt and the team
(26:42):
at Presley Wealth can do for you. Hopefully don't know
if they can help until you reach out, but you
do have that opportunity two two five five, two three
sixty three eighty nine. What I wonder is you started
at the end of two thousand and eight, and really
the markets did not turn until March of nine, and
then they went on a nice ten year run basically
right right. But that was when Leno and Letterman were saying, Hey,
(27:03):
I hope you're enjoying your two oh one K. I
know you thought it was a four oh one K,
but it's now a two oh one K. What I
wonder is from when you got in, because you came
from the radio world to this investment world with Presley
Wealth Management and Christy, how much has technology changed the game,
Because you said, people come in and we're going to
try to figure out their risk factor. We've got to
(27:25):
special software. How much has software kind of changed the
planning process?
Speaker 5 (27:30):
It's good question.
Speaker 4 (27:32):
I'm thinking back to those dark days of two thousand
and eight early two thousand and nine mark cell phones.
Obviously we had phones back then, but there's so much
more easier to use their faster, they can hold so
much more data. I'm vividly remembering that many people didn't
realize how bad it was until they actually physically opened
(27:54):
their statement at the end of each and every month.
Some people only got a quarterly statement. Know, some firms
only hand out quarterly statements. And I will tell you
that some people were stunned and that's what prompted them
to call our office. And at the time I was
getting licensed and I was in the meetings with Christy,
and they would tell Christy, Hey, our guy quote unquote
(28:17):
from our brokerage firm hasn't called us, and we opened
our quarterly statement and we can't believe that, you know,
we've lost twenty four percent. And then tears would start
flowing because the next words were but we really wanted
to retire at the end of this year and now
having lost this much money, I don't know if if
we can do it, and the pain of watching people.
Speaker 5 (28:38):
Go through that.
Speaker 4 (28:38):
I mean, look, I was forty one years old at
the time. I wasn't retiring. I knew my four oh
one K was getting bashed. But I'm like, I'll come back,
I'll put more money into it. But when you see
the pain of someone who's dreams and hopes are being
crushed right before your very eyes, that tells me that
someone didn't do a good job of planning. Now, if
(29:00):
they were in a four to oh one K, not
blaming that person that you know they didn't have the
knowledge to maybe go in and make adjustments, But if
they were working with a firm that should have been
acting in their best interest, well that's bad. Because the
technology we had then was we could look at the
statement and we could run reports, but they were slower.
(29:21):
Sometimes it would take us a week to get the
reports back. Now we can get a report back in
hours that can quickly show us how much risk.
Speaker 5 (29:29):
You really have. And we're not scared of the stock
market mark.
Speaker 4 (29:32):
I'm not saying that when we stress test your current portfolio,
the goal is to scare you.
Speaker 5 (29:38):
It's to show you the facts.
Speaker 4 (29:40):
You know, if you walk in and your risk score
is By the way, we don't use the words moderate
or aggressive or conservative. We use a risk score. So
a one means you bury money in the backyard. You
stuff it in the mattress. That's what you do. Humark
if I had any okay, I'm ninety nine means you
(30:03):
don't hesitate it, hop it on the motorcycle, no helmet,
driving down the iten crossing the causeway in the fog.
I mean you're super risky. Right, So if you own
a bunch of individual stocks and you like to actively
manage those yourself, you're probably a ninety eight ninety nine.
If you instead have a well diversified plan that's going
(30:25):
to take you into retirement, you understand that your risk
score might need to be a forty. What does that mean, Well,
it means I'm taking less risk. So I may not
have as big of a return when the market is good,
but I should, with this properly designed portfolio, take less
of a loss when things are bad. Let me tell
(30:46):
you about diversification. The tools are able to show us
what your risk number should be, and one of the
things we do is we ask you point blank, how
comfortable are you with the following rain of return.
Speaker 5 (31:01):
Notice I didn't say a rate of return.
Speaker 4 (31:04):
I think the single biggest thing that has happened since
even twenty twenty when the big COVID crash happened. Of
course it was a quick recovery. People became more sensitive
about the highs and the lows in their portfolio. When
you're young and you're saving mark, rate of return is everything,
because if you average twelve percent versus ten percent over
(31:25):
a twenty five year period, it turns into a lot
more money. But when you get closer to retirement, certainly
within three years and the two to three years when
you're first retired, what matters more than your rate of
return is your range of return. And what I mean
is if the stock market. You know, if you have
(31:47):
a portfolio in your four oh one K that can
mirror the stock market, that means it can sore up
twenty eight thirty percent in one year, but it could
also drop thirty five forty.
Speaker 5 (31:57):
Percent in a year.
Speaker 4 (31:59):
When you are heading into retirement, when you're drawing from
your retirement savings, it's all about reducing your risk.
Speaker 5 (32:05):
I urge.
Speaker 4 (32:06):
You don't get caught up as you get ready to retire,
as you are first retired, don't get caught up on
rate of return, get obsessed with range of return and
the probability of you not running out of money.
Speaker 5 (32:20):
I think mark is significantly higher.
Speaker 1 (32:22):
All right, final thing on passive versus active investing, because
I think it's really interesting. So what value do you
think somebody might gain by just coming in and having
a conversation with you and the team at Presley Wealth Management.
Speaker 4 (32:34):
The number one value is to find out what you
don't know or to correct an assumption that you have
that is incorrect. Doesn't mean we're smarty pants and we
know everything, but we walk you through five areas, the
key five areas of retirement planning, sources of income. I
hear so many people who say, well, I heard my
(32:56):
neighbor told me that X, Y and Z is true
about social Security. I'm sure your neighbor is a nice person,
but they're wrong, right, And so number one, the visit
will clarify the rules and how they apply in your situation.
So when we talk about medicare, there's so many misunderstandings.
I had a couple come in and the lady was
extremely worried. She's like, I haven't paid in the forty
(33:19):
quarters of Social Security, and I know I can draw
some social Security for my husband. But my neighbor told
me we actually, she said a friend told me that
she's got the same worry I have that I can't
get Medicare. No, you can qualify for Medicare based on
your spouses earning record. All of a sudden, this weight
fell off of her right, She's like, Okay, now, good
(33:40):
help a shop for a Medicare plan. So that visit
when you sit down with us, well, first of all,
help clarify how much risk you have, how much risk
you should have, how much risk you have of running
out of money. But more importantly, it helps us find
out what you may think you know but there's a misunderstanding,
(34:02):
or maybe you just don't know something and you want
to better understand how to manage risk.
Speaker 5 (34:07):
It's what we do. So reach out to is.
Speaker 4 (34:09):
You can text the word visit to two two five
five two three sixty three eighty nine. It's two two
five five two three six three eight nine. If you're
driving and you don't want to text, please don't just
call you'll get a voicemail, we'll collect some information. I'll
leave us a message and we'll collect some information Monday
(34:31):
and reach out to you for a no cost, no obligation.
Visit again, text the word visit or call two two
five five two three sixty three eighty nine.
Speaker 1 (34:41):
What do we come back? Our final segment, We're gonna learn.
We're gonna ask Matt some crazy questions. We're gonna see
what he has to say. We're gonna learn more about
Matt Kennedy right after this on Your Money Matters back
in one minute.
Speaker 6 (34:52):
You listen to Christy Smith and Mack Kennedy on the radio.
Now go in and talk with them in person. Let
them help you retire with confidence. Two two five five
two three six three eight nine, or go online to
Presleywealthmanagement dot com.
Speaker 2 (35:10):
With chaos on the news and uncertainty in the markets,
are you worried that your retirement savings could be at risk? Hi,
this is Christy Smith with Presley Wealth Management. Tariffs, trade wars,
and a shaky stock market have left many retirees asking
what's next for my financial future? If you've been asking
that question, it's time to take action. Come sit down
(35:31):
with me and my team so that we can review
your financial plan and help make sure that you're prepared
for the challenges ahead. Just called two two five five,
two three six three eight nine for a free visit. Together,
we'll create a strategy to help you preserve what you've
worked so hard to build. Don't wait. Call me Christy
Smith at Presley Wealth Management at two two five five
(35:52):
two three six three eight nine to schedule your visit.
There's no cost to meet, but my calendar is filling
up fast. Called two two five five two three six
three eight nine.
Speaker 6 (36:04):
Investment advisory services offered through AE Wealth Management LLC, a
registered investment advisor. Text Book to two two five five
two three six three eight nine to get an instant
download of chapter one of Christy Smith's book, Unlock Your
Smart Plan. That's book to two two five five two
(36:26):
three sixty three eighty nine.
Speaker 1 (36:30):
Welcome back to your money Matters with Christy Smith and
Matt Kennedy of Pressley Wealth Management. You can always learn
more and find out about upcoming events Pressleywealthmanagement dot com
if you'd like to talk with them. Though you're not
really sure where you are on that rotary timement, I
think I've got enough. I hope I've got enough, but
I don't really know. Perfect time to chat with the team.
There's no cost for this, there's no obligation. It is
two two five five two three sixty three eighty nine.
(36:52):
Two two five five two three sixty three eighty nine.
We're gonna do a little combination here, little mailbag segment
with something fast things. We've never done it before, so
we're kind of looking forward to see how this all
plays out. All right, first question, Christy, I'll give you this.
What could be the impact on my pension if I
decide to retire early.
Speaker 2 (37:14):
Well, the first impact was that you would likely receive
less money because you're working for a shorter time period.
The next thing you want to consider is are you
going to take a lump sum pension or are you
going to take the pension payments? If you retire early
at a young age, maybe taking the pension payments would
be the better option because you would have a higher guaranteed.
Speaker 5 (37:35):
Amount of income.
Speaker 2 (37:36):
But then you have to consider well, because most children
never get a pension payment. If if husband and wife
pass away in a car accident, it's going children don't
receive the money. So you know, how do I offset
to leave my children the money that I've that I've
worked hard and saved far and still be able to
take the pension payment. So retiring early can your pension
(37:58):
can be affected by a lot of different things. The
interest rate environment when you retire, you know that affects
your pension payment.
Speaker 1 (38:05):
All right, Christy, how here's another question for you. How
do I calculate for inflation when trying to figure out
if I have saved enough?
Speaker 2 (38:13):
Well, when I calculate for inflation, you know, with with
my client's retirement planning, I always calculate a higher than
average level of inflation to their expenses, meaning I'm going
to make it look like their expense goes up by
a certain percentage. I you know, we can look at
even like a five percent inflation costs to expenses just
(38:35):
to see what the long term outlook would be. Now,
last year, the argument would be inflation was, you know,
more than that, but on average over the last thirty
years that it wasn't higher. So we just want to
make sure that in our plan we're building an automatic
inflation that is that's like a rate of return that
that's going to be added to the actual expenses each year,
(38:56):
you'd be quite surprised. Mark over a thirty year period,
we would expect that our clients need, meaning their expense need,
the money they're going to need to live on is
actually going to be double what it is when they retire.
Speaker 1 (39:09):
Yeah, it is amazing when you look at that, and
that's kind of why they always say, what the compound
interest is the eighth wonder of the world. That's kind
of that same kind of thing, but in reverse when
it comes to inflation. All right, Matt, final question before
our lightning round. When should most people start planning for retirement.
We'd love to do it once we start our first job,
but most people don't think they're ever going to get
(39:30):
to that age. When you're twenty, can't think of being sixty.
So when's the right time to start planning for retirement?
Speaker 4 (39:37):
So, once upon a time, before the wroth four oh
one k was a thing, we would always say, well,
start planning around fifty right Nowadays, when you get your
first job, if you have the option for wroth four
oh one K, it's probably very important that you consider
adding some money to that to help hedge the taxes
later in life. But certainly if you plan to retire
(39:59):
at the state age of say sixty two, I believe
when you're fifty Christy, you may have a different opinion,
but certainly by the time you're fifty you better start
looking long and hard and fast that have I saved enough?
Am I saving in the right places? Am I being
tax efficient? And what things have I not thought about? Certainly,
twelve years before you retire you really have to begin
(40:20):
formulating a plan. And the five years before you retire,
that's a real critical zone. That five year period before
you retire and the five year period after you retire
you have to be very cognizant of stock market risk
and so that's a real critical zone where you have
to have a very nailed down plan. Our goal is
(40:40):
to help you retire, live a great retirement and to
leave a legacy for your children and grandchildren. We help,
and it all starts with a phone call. So reach
out to is a two two five five two three
sixty three eighty nine, text visit two two five five
two three six three eight nine, and we'll be happy
(41:02):
to spend fifteen twenty minutes on the phone just getting
to know your current situation.
Speaker 2 (41:06):
And I always like to recommend that the year before
you retire, actually test drive your retirement, like you don't
buy a car before you test drive it. Right, live
the year before you retire the way you're going to
live in retirement.
Speaker 5 (41:22):
I like that.
Speaker 1 (41:23):
So again, if you'd like to chat with the team
at Presley Wealth Management, it is two two five five
two three sixty three eighty nine. Two two five five
two three sixty three eighty nine. An easy one to remember,
I think is just meet with us noow dot com.
Set up your own fifteen minute conversation with the Presley
Wealth Management team. All Right, we're gonna do something we've
(41:43):
never done before. This is a little lightning round and
it's really about you too individually. Uh, And so I'm
just gonna throw out a topic. I just want a
quick answer. We'll see how many we can get to
in like two minutes. Okay, So Christy, here's the deal.
For example, it's gonna be what's on your bucket list? Christy,
you go first, Matt, you give me yours, and then
we'll just go through and see how many we can
get through. All right, you're good with that, okay? All right,
(42:07):
So Christy first, Matt. Then the same thing, same question,
and give me an answer. All right, what's on your
bucket list? Christy?
Speaker 2 (42:13):
Well, my bucket list is number one is to see
Presley right at the National Finals Rodeo in Vegas, Germany.
Speaker 1 (42:22):
Germany.
Speaker 5 (42:23):
I want to see Germany.
Speaker 1 (42:24):
Okay, what's your biggest what is your biggest pet? Peeve?
Speaker 2 (42:29):
Putting the roll of toilet paper.
Speaker 5 (42:31):
On the holder wrong? So which way is right?
Speaker 7 (42:36):
Well?
Speaker 2 (42:36):
Up, you put it to where the when you're the
role comes.
Speaker 5 (42:41):
Up, it goes down in the front, in the front.
Speaker 1 (42:45):
You got it, not underneath?
Speaker 5 (42:47):
Like it when I go not underneath.
Speaker 2 (42:50):
That is my biggest pet.
Speaker 4 (42:52):
Pee Mine is people who order it to drive through
at a fast food restaurant. Pull up eight feet and
start taking the stuff out. Get out of the way.
Move Okay, we're done.
Speaker 1 (43:00):
All right. Favorite comfort food Christy.
Speaker 5 (43:03):
I'd say ice cream, chicken pot pie.
Speaker 1 (43:06):
Okay.
Speaker 8 (43:07):
Favorite athlete of all time Christy, Joe Burrow, Michael Jordan,
all right, favorite book The Bible Where the Red Fern Grows.
Speaker 1 (43:19):
The movie you will watch over and over again.
Speaker 5 (43:23):
The notebook Cherriots a Fire.
Speaker 1 (43:26):
Okay, mine would be Maverick. All right, Holiday, you look
forward to Holiday, you look forward to the most christy.
Speaker 5 (43:37):
Thanksgiving Christmas.
Speaker 1 (43:39):
The earliest financial lesson you each have learned.
Speaker 5 (43:43):
Oh that's good.
Speaker 2 (43:46):
That was when I was like seven years old and
my mom paid me a penny for every gumball I
picked up in the yard from the gumball tree, and
then she made me pay for my candy bar at
the store. I realized it takes a lot to get
what you want.
Speaker 4 (44:02):
Earliest financial lesson I actually, oh, my lord, I'm afraid
to confess this. I guess the statute of limitations has
run out. I was maybe six years old and I
stole a piece of bubble gum from Horner's Grocery on
Section Road in Erwinville, and my dad made me go
back inside, apologized, went home, got us spanking, and had
(44:23):
to work helping him to earn enough money to pay
back the piece of gum.
Speaker 5 (44:28):
Of course, it was five cents, but my dad made
me work for a dollar, kind of like me picking
those gum balls up exactly, but I was in trouble.
So that's my earliest financial lesson.
Speaker 1 (44:37):
Okay, there's our quick lightning round you guys. I get
thirty seconds. I'll let you wrap up today's show.
Speaker 5 (44:42):
So listen.
Speaker 4 (44:43):
Life is all about our experiences, and if you're planning
to retire or if you're already retired, we offer just
to sit down conversation.
Speaker 5 (44:53):
That's really what it is.
Speaker 4 (44:54):
You know our goal is, and to shove a pen
in your hand and have you sign a piece of
paper and say be our client. Our goal is to
help you retire, live a great retirement and to leave
a legacy for your children and grandchildren. We help, and
it all starts with a phone call. So reach out
to is at two two five five two three sixty
(45:14):
three eighty nine, text visit two two five five two
three six' three eight, nine and we'll be happy to
spend fifteen twenty minutes on the phone just getting to
know your current, situation whether you're planning for retirement or already,
retired and we sit down face to face and build
you a retirement plan that can last and leave a.
(45:35):
Legacy so reach out to is at seven nine one
five seven seven.
Speaker 3 (45:38):
Three Presley Wealth management has a strategic partnership with tax
professionals and attorneys who can provide tax and or legal.
Speaker 6 (45:45):
Advice investment advisory products and services made available THROUGH Ae
Wealth MANAGEMENT, llcaewm a registered investment. Advisor insurance products are
offered through the insurance business The Presley. Group Presley Wealth
management is an investment advisory. Practice it offers products and
services THROUGH Ae Wealth MANAGEMENT, llcawm a registered investment. ADVISOR
(46:06):
awm does not offer insurance. Products the insurance products offered
by The Pressley group are not subject to investment advisor.
REQUIREMENTS awm and The Pressley group are not affiliated. Companies
investing involves, risk including the potential loss of. Principle any
references to, protection, safety or lifetime income generally refer to
fixed insurance, products never securities or. Investments insurance guarantees are
(46:26):
backed by the financial strength and claims paying abilities of
the issuing. Carrier this radio show is intended for informational purposes.
Only it is not intended to be used as a
sole basis for financial, decisions nor should it be construed
as advice designed to meet the particular needs of an individual.
Situation The Presley group is not permitted to, offer and
no statement made during the show shall constitute tax or legal.
Advice our firm is not affiliated with or endorsed by
(46:47):
THE us government or any governmental. Agency the information and
opinions contained herein provided by third parties have been obtained
from sources believed to be, reliable but accuracy and completeness
cannot be guaranteed by The Presley. Group this radio show
is a paid placement
When the news is national.
Speaker 2 (00:01):
SOB, security system molatility, global turmoil, interest rates, Rock.
Speaker 3 (00:04):
Dane, Wall Street, Your money matters. When it's Louisiana local
serving the Greater Baton Rouge area, your money matters. And
when it's your time to retire. Presley Wealth Management presents
your Money Matters with Christy Smith.
Speaker 2 (00:20):
In reality, we're always going to have positives and negatives
going on in retirement. And that's where I believe it's
so important that you do have a full pledge retirement plan.
Speaker 4 (00:30):
And Matt Kennedy, maybe you're thinking, hmm, should I take
Social Security at sixty two, at sixty seven, at seventy
These are things you don't do every day.
Speaker 5 (00:38):
It's what we do every day.
Speaker 3 (00:40):
The conversation starts now this is your money Matters.
Speaker 5 (00:49):
Welcome to your money Matters.
Speaker 1 (00:51):
I'm Mark Elliott here with Matt Kennedy, an investment advisor
representative any certified as day planner, with the team at
Presley Wealth Management, Christy Smith. The found are a Pressley
Wealth not here right now might make it in We'll
find out in the next segment, I suppose. But if
you have any questions about where you are on that
road to retirement. Can I retire? How does this big
beautiful bill affect us? A lot going on? That's what
we're going to talk about this morning. But the number
(01:13):
to talk with Matt, Christy and the team at Presley
Wealth is two two, five, five three sixty three eighty nine.
No cost to you whatsoever. All right, Matt, welcome, glad
to chat with you as I am every week on
the program. Christy may or may not show up here
in the next segment. We'll find out. But the Big
Beautiful Bill, A lot of people think it's a big
beautiful bill. Others not so happy with it. I guess
(01:35):
what's your initial take? I'm sure now you've had time
to read the nine hundred plus pillages, all.
Speaker 4 (01:40):
Nine hundred plus pages. Absolutely I have. Yeah, So what's
your take on it?
Speaker 1 (01:44):
I mean, obviously it's about the tax rates and brackets
staying permanent. Now we know permanent is with exclamation points,
meaning maybe.
Speaker 5 (01:52):
It depends on the next administration.
Speaker 4 (01:54):
Well, listen, you don't even have to take a political
side here, Mark, you don't have to be pro Trump
or anti Trump to acknowledge that it's the facts. I mean,
it's what Congress passed, and so it's the law, at
least for a.
Speaker 5 (02:08):
While some of it.
Speaker 4 (02:09):
So the BBB, the Big Beautiful Bill, it is really
a massive gift for retirees for a short period of
time until the end of twenty twenty eight. It opens
a window for significantly lower taxes, especially for those of
you sixty five plus. So, I mean there's things in
(02:29):
there that some would say are maybe advantageous or disadvantageous
depending on your income level for those underage sixty five.
But as you were telling me Mark before we started,
for you, I'm sixty five.
Speaker 1 (02:42):
Gift makes a huge difference, right, It's right in my
wheelhouse because I didn't even know this, and I'm divorced,
so I'm single, which means I have the fifteen thousand
dollars standard deduction, but that got cranked up to fifteen
seven fifty then I didn't even know a sixty five
already had a standard deduction built in of two thousand.
Didn't even know that I knew this one put an
extra six thousand in there. So as a single person,
(03:04):
my total standard deduction is basically twenty three thousand, seven
hundred and fifty. That can make a difference in huge difference, right, married,
if you're over sixty five at both and the couple are,
your standard deduction goes all the way up to forty
six thousand, seven hundred. Right.
Speaker 4 (03:18):
I'm gonna do some math when we get a little
deeper into this segment, because if you're sixty five plus married,
filing jointly and have Social Security, it really makes a
massive impact. More on that in the moment. Let me
walk through the key points from the new tax law.
Number one, you mentioned that the tax brackets of ten percent, twelve,
twenty four to thirty two, thirty five, and thirty seven
(03:39):
those brackets from the twenty seventeen tax cuts. They're now
made permanent permanent needs an asterisk. Next administration can make
them unpermanent, right, but they are considered to be permanent
at this point.
Speaker 1 (03:52):
Which means Congress has to make a new law to
change that.
Speaker 4 (03:56):
Right because had the law not passed then I believe
at the end of this year or next year, the
end of this year and jobs, we were going to
go back to the higher brackets. Okay, and you mentioned
the standard deduction. You're right, So if you're a married
couple filing jointly under the age of sixty five your
standard deduction thirty thousand, the new standard deduction thirty one
(04:21):
thousand and five hundred, and that goes into effet retroactive
to January first, so it's in effect for this year.
Speaker 1 (04:28):
Now.
Speaker 4 (04:29):
They're calling it the bonus deduction. Mark, I'm just kind
of recapping what you said. So, if you're sixty five
or older, under the old law, you got the two
thousand dollars extra deduction.
Speaker 1 (04:42):
Yeah, as single, but married it's sixteen hundred, and then
per person, yeah right, it's thirty two hundred.
Speaker 4 (04:47):
Yeah, and you did the math. And so under the
new law, this new bonus deduction, by the way, two caveats,
it is higher. It's six thousand per person twelve thousand
for the married couple filing joint. Now here's something very important.
It doesn't take away this. It doesn't take away what
you were getting. So if the married couple, if you
(05:09):
were getting the sixteen hundred, it's the sixteen hundred plus
the six thousand on top of that. And like Mark,
like you said, for a married couple filing jointly, the
new total standard deduction if your sixty five plus is
forty six thousand, seven hundred, but two things denote two
caveats Number one, this is only temporary.
Speaker 5 (05:33):
It expires at the.
Speaker 4 (05:34):
End of twenty twenty eight, so it's about three and
a half years from now, right.
Speaker 5 (05:38):
And it also is phased out.
Speaker 4 (05:41):
So you mentioned the single deduction mark that begins to
phase out if you earn above seventy five thousand dollars,
and if you're married filing jointly, it phases out when
you earn one hundred and fifty thousand dollars or more.
Speaker 5 (05:54):
It begins to fade out.
Speaker 4 (05:55):
Okay, even if you're not sixty five plus, just the
increase in this and deduction alone and then some of
the other things that they've passed really create an opportunity
for you to consider conversions, converting forever taxable money into
forever tax free money. But if you're sixty five plus,
(06:15):
not working and living on Social Security, it may be
the optimal time. And we can show you with our
tax planning software exactly how much money it would cost
you to, you know, to take advantage of this law
by doing certain kind of conversions, but also how much
it will save you and your children your legacy in
(06:36):
the long run. If you're interested to reach out to
us at two two five five two three sixty three
eighty nine. You can send a text if you'd like to.
If you text the word visit to that number, we'll
give you a call back Monday and set up a time.
Or you can just call us and leave a voicemail
and say, hey, I want to learn more about the
tax code and how I can help me with my taxes.
Two two five five two three sixty three eighty nine
(07:00):
nine two two five five two three six three eight nine.
Speaker 5 (07:04):
That's the biggie mark. There's more I'll cover, but that's
the biggie.
Speaker 1 (07:07):
Yeah, certainly. And we know that the tax rates and
the brackets are now permanent until another administration or another
Congress decides to change that. The standard deduction, the six
thousand for those, uh, that one is expiring, as you said,
at the end of twenty twenty eight. No tax on tips,
no tax on overtime. Those also expire after twenty twenty eight.
And there are dollar amounts with those as well. Right. Obviously,
(07:29):
it did a lot for the border, it did a
lot for the military. I guess the overall take for
me is that, Okay, the tax things now finalize, which
now helps you and Christy and the team of Pressley
Wealth try to figure out how to help people now
because now you have a you kind of know you
have the next four.
Speaker 4 (07:45):
Or five years to do something. Yeah, it makes a
huge difference. You mentioned overtime pay, and with this I'll
give you the caveat check with your human resources department.
There were some very specific rules about what actually counts
as overtime. There are very specific definitions of which employees
this this applies to. But in the past, obviously overtime
(08:07):
pay was tax like regular pay, drove your income higher,
probably drove your taxes higher. Under the new law, through
the end of twenty twenty eight, you can now deduct
up to twelve thousand, five hundred dollars per taxpayer with overtime. Well,
what if you've got a married couple where one works
and the other dozen't. You could still take twenty five
(08:27):
thousand as the deduction even if the other person isn't working.
But again, check with your human resources department. Mark, do
you want a new car?
Speaker 1 (08:36):
How about that?
Speaker 5 (08:36):
Yeah, how about that? You can now deduct that's.
Speaker 1 (08:39):
Through twenty twenty five through twenty twenty eight as well.
Speaker 5 (08:41):
That's correct.
Speaker 4 (08:42):
You can deduct up to ten thousand dollars of interest
on a new car loan. You don't even have to
itemize to do it, because that's always been the thing. Well,
I would take some of these deductions, but I have
to itemize it. Not with this, you don't have to itemize,
and you can still deduct ten thousand of interest on
new loans. The caveat there being in the car must
(09:02):
have its final assembly in the USA, so check with
the dealership. Here's a biggie charitable contributions. Once upon a
time you could write off your charitable contributions if you itemized,
so a lot of people. Because the standard deduction got
bigger and bigger, people quit itemizing. Now even if you
don't itemize, you can write off one thousand dollars to charity,
(09:26):
or two thousand if you're a married couple filing jointly. Now,
that does not start until next year. That does not
go into place for this year. I would be remiss
to not note that it absolutely increases the deficit. It
is more spending with the hope is that by stimulating
the economy, we will help grow ourselves out of the
(09:47):
deficit situation.
Speaker 5 (09:49):
Mark only time will tell.
Speaker 4 (09:51):
But for you, it's a three and a half year
window to make massive improvements to your future tax burden,
especially if you're at the cusp of or in retirement.
Let's show you how much money it really could put
back in your pocket. Two two five five two three
sixty three eighty nine. Reach out to us UH call,
(10:11):
leave a voicemail, or text the word visit to two
two five five two three sixty three eight nine.
Speaker 1 (10:19):
The state taxes have changed as well. We'll talk about
all of this as we move down the road weeks
down the road, but we're going to find out new
parts of this thing all the time. So we're just
getting started on your money matters with Christy Smith and
Matt Kennedy. More right after this, you.
Speaker 6 (10:34):
Listen to Christy Smith and Matt Kennedy on the radio.
Now go in and talk with them in person. Let
them help you retire with confidence. Two two five five
two three six three eight nine, or go online to
Presleywealthmanagement dot com.
Speaker 2 (10:52):
With chaos on the news and uncertainty in the markets,
are you worried that your retirement savings could be at risk? Hi,
this is Christy Smith with Presley Wealth Management. Tariffs trade
wars and a shaky stock market have left many retirees
asking what's next for my financial future. If you've been
asking that question, it's time to take action. Come sit
(11:12):
down with me and my team so that we can
review your financial plan and help make sure that you're
prepared for the challenges ahead. Just call two two five
five two three six three eight nine for a free visit. Together,
we'll create a strategy to help you preserve what you've
worked so hard to build. Don't wait. Call me Christy
Smith at Presley Wealth Management at two two five five
(11:34):
two three six three eight nine to schedule your visit.
There's no cost to meet, but my calendar is filling
up fast. Called two two five five two three six
three eight nine.
Speaker 6 (11:46):
Investment Advisory services offered through AE Wealth Management LLC, a
registered investment advisor. Presley Wealth Management is ready to help
answer your questions and guide you as you make decisions
about coverage. Paul to talk to the Presley Well team
two two five five two three six three eight nine.
(12:07):
That's two two five five two three sixty three eighty nine.
Speaker 1 (12:13):
Welcome back to your money Matters with Christy Smith and
Matt Kennedy. Christy not here today. Christy started Presley Wealth
Management back in two thousand and six. Matt joined the
team back in two thousand and eight. That means they've
all been together during the Great Recession and people get
nervous about how their money is going to How do
we make sure our money is going to last? Right?
We don't want outlive our money. It's still the number
(12:35):
one fear. People fear running out of money before running
out of life more than they actually fear running out
of life. So you need a plan, and this smart
process that Christy, Matt and the team of Presley Wealth
can walk you through might ease your stress level because
you actually have a plan. You're not I think we're
gonna be okay. I hope we're going to be okay.
You actually know how you're doing. Two two five five
(12:57):
to two three sixty three eighty nine is the number.
Two two five five two three sixty three eighty nine.
I'm Mark lay glad you're with us today. Uh, Matt,
you know one of the things that I think is
always fun because we're old. I'm old, right, I'm sixty five.
You're not that old yet.
Speaker 5 (13:12):
You ain't old. Sixty five is an old hush, I'm
right behind you.
Speaker 1 (13:16):
The dad jokes. I appreciate dad jokes. Do you like
dad jokes?
Speaker 5 (13:19):
I love dad jokes. Here, I love them.
Speaker 1 (13:21):
Here's one for you. Why don't eggs tell jokes?
Speaker 5 (13:26):
Why don't eggs tell jokes?
Speaker 7 (13:28):
Right, no clue they might crack up. Oh nice, that's
a good one. I like, I'm gonna I'm gonna store
use that. I'll use that when it's some future date.
Speaker 1 (13:38):
You bet you're gonna use that at all the seminars
you always yes, hold over dad joke, that'll go over great.
Uh So, all right, this these next two segments. I
think this is one of the Because I am sixty five,
you would think I would know some of this investing stuff.
I don't. So I love doing the show with you
and Christy because I'm gaining knowledge all the time. But
(13:59):
I've always I always in the sports world, so I
never paid much attention to the financial world. I don't
watch the news very often. I mean, I might catch
if something happened, I might watch it right right, but
I don't. Just I'm not glued to my phone to
see what's happening.
Speaker 5 (14:12):
I don't.
Speaker 1 (14:13):
I'm not glued to my phone to watch the markets.
I'm one of those passive investors I think is what
you would say, put the money in the four oh
one k, don't even know how it worked, and just
let her go and hope for the best. Because I
don't have the skill or the knowledge to be able
to make adjustments when it's needed. So that's where a
team like yours, Op Pressley Wealth Manager comes in to
help kind of guide us. So that's what we're going
(14:33):
to talk about, active versus passive investing. I think I
am a passive investor because I don't know enough right
to make any of those decisions. I have friends that
love getting into the market, and they love trying to
moving this and that and all of that talk about
active investing versus passive investing because I think when people
(14:53):
when you say we're going to create that plan for
whomever we're sitting down with, right, everybody, no cookie cutter
planning here at press Wealth Management. It's about whomever you're
sitting down with, what do they need, how can we
get it for them? And all of that. But it's
not like your day traders either. I mean, so there's
a can you explain active versus passive investing.
Speaker 5 (15:12):
Let's do that.
Speaker 4 (15:12):
So the vast majority of people, I think most of
you listening are are passive, probably especially if you're working,
because you nailed it if you're putting money into a
four to oh one K or a you know four
oh three B or.
Speaker 5 (15:24):
A simple IRA.
Speaker 4 (15:26):
But basically if you're if you're participating in a workplace
plan where you add money, say every paycheck, that that
certainly is passive. You say, wait a second, I'm actively
putting money in. But when when you hear the phrase
on CNBC or Fox Business active versus passive, that typically
dictates how the fund is being managed.
Speaker 5 (15:47):
So let's say that you picked you're.
Speaker 4 (15:49):
In the t row Price fund because you have a
t row Price four O one K for example. So
let's say you have the twenty thirty fund. Well, that
means that that fund is designed for someone who is
retiring in the year twenty thirty. Prior to the Great
Financial Crisis of two thousand and eight two thousand and nine,
we really didn't have what are called target date funds,
(16:11):
and so that's a form even though you're actively putting
money in, that's actually kind of an active fund.
Speaker 5 (16:17):
Here's why the closer you get.
Speaker 4 (16:19):
To twenty thirty, the more bond funds you'll have and
the fewer stock funds. So the account quote unquote automatically
reduces your risk.
Speaker 5 (16:31):
Now, there are still lots of risk and bond funds.
I don't want to discount that.
Speaker 4 (16:34):
But the goal is that it's an actively managed account
to help lower risk as you get closer to retirement. Now,
if you have let's say your four oh one k
is with Vanguard, and you have the Vanguard S and
P fund, well that's passively managed. What do I mean
by that, Well, you're actively putting money in, but the
account does nothing to mitigate stock market risk it's going to.
(16:58):
That account is designed to mirror the S and P
five hundred, or maybe you have the let's say the
Vanguard Total Stock Market Mutual Fund. Again, if the market
is good, it'll make money. The market's bad, you'll take
a big loss.
Speaker 1 (17:14):
Because I think that's really one of the challenges because
I think people because we all hear about oh the
day traders, that is not what Presley wealth management. You're
not doing that. That is a whole different ballgame. There
isn't it.
Speaker 4 (17:26):
As a matter of fact, we actually want to be
fairly passive with your retirement portfolio. Now, let me explain
that doesn't mean we're not watching it. I mean we're
not keeping an eye on it. But I mentioned this
last segment. I'll mention it again. When we think of
helping someone diversify, that's such an overuse word. But when
we think of helping someone diversify their portfolio in preparation
(17:48):
for retirement, mark, we become very aware of something called
sequence of returns. I know I'm kind of hitting you
with a fire hose here, but stay with me. So
you pick up the phone and say, Matt, I'm sixty.
We'd like to sit down to meet with you or
Christy or April. Hey, I'm going to retire in two years.
The first thing that jumps out at me is you're
(18:09):
on an airplane and the airplane is approaching the airport.
Speaker 5 (18:14):
Now, mark the last time you flew. Did the pilot
say hurry up, hurry up, throw.
Speaker 4 (18:19):
Your trade tables, that we're landing in five minutes, and
then the pilot puts the plane in a nose down mode.
Speaker 5 (18:24):
And quickly lands. That's not how it happened.
Speaker 4 (18:26):
Right, No, thirty minutes out from the airport, Oh, they're
gonna come through the cabin and pick up the last
bit of the trash. Please put your trade tables up.
Planning for retirement's no different the three years before and
the three years after you retire. Listen, if you hear
nothing else, I say this entire hour. The three years
(18:48):
before you retire and the three years after retire. After
you retire, can I have the they can have the
most profound impact on your retirement. I know this because
I saw what happened with people who were planning to retire,
let's say in twoenty ten, and their four to oh
one K, which was passively managed for the most part,
(19:10):
got wiped out, and that sequence of returns was bad.
The sequence of returns is how the stock market behaves,
say in the two to three years before you retire,
and if you're aggressive and you're lucky and the market's bullish, great,
But if you get nailed by the bear market, not
so good.
Speaker 5 (19:26):
So how do we how do we mitigate that? Again?
Roof walls and floor.
Speaker 4 (19:32):
Our proprietary planning system looks at your sources of income,
how much medical and medicare costs, things like that. Have
you done your advance planning? What about risk management and taxes.
But that are is so important because if you walk
in the door and you tell me you're retiring at
the end of this year, one of the first things
we're going to do is work to bring down your risk. Now,
(19:53):
if the market continues booming, that means we may leave
some gains on the table, but we want to diversify
and such a way, not through you know, trying to
knee jerk react and jump in and jump out of
the market, but build a plan that has some aggressive money,
some money that can be moved into or out of
more or less risk based on what we call active
(20:15):
money management. But then we need some money, especially the
money that will provide your income to be in a
situation where you can't take a market loss. You can
share in market gains when things are good, but you're
not risking that money.
Speaker 5 (20:30):
You're not taking a loss.
Speaker 1 (20:32):
Would it be fair to say, though, that most probably
have more risk than they realize.
Speaker 5 (20:37):
Yes, it was.
Speaker 4 (20:40):
It was much more prevalent before the so called target
date funds came along. But you know, if you're opting
into a fund that has a set date like twenty
twenty five or twenty thirty, that helps, But in twenty
twenty two it didn't work very well. As a matter
of fact, many people saw their For example, they're twenty
(21:01):
twenty five fund lose more than the S and P
five hundred because stocks and bond funds plummeted because interest
rates were jumping so fast. And there are ways to
even avoid having a bond fund or a bond market
meltdown in the face of volatile interest rates. But you're right,
for the most part, most people are taking on too
(21:22):
much risk. You want to know why, Mark, because you
went to work and you picked four funds that your
friends told you about in your four to oh one K,
and you've left it alone for thirty three years, and
you know what that total market and that total bond market,
and that international fund and maybe that MidCap fund. They've
all done great because you've just weathered the storm. But
(21:44):
you can't stay at that much risk when you're heading
into retirement. So what I would tell you is, don't
get overhung up on active versus passive. Be active about
finding out how much risk you have and building a portfolio,
which is what we do to help mitigate the risk.
It can actively work to mitigate the risk as you
(22:05):
head into retirement.
Speaker 5 (22:06):
So here's how we do it.
Speaker 4 (22:08):
First thing we do is spend a little bit of
time on the phone with you, just getting to know
your situation. Then we sit down face to face, no cost,
no obligation visit and we're going to walk you through
our smart plan. We want to find out where are
your sources of income to help you determine we have
enough money to make.
Speaker 5 (22:25):
It through retirement, how long will it last.
Speaker 4 (22:28):
We're going to look at medical cost if you're retiring
before age sixty five, and if you're retiring add or
beyond age sixty five, look at medicare. Explain the abcs
of medicare, SMA, Advanced planning, have you done the wills
to trust, the powers of attorney? What is your situation,
what do you need? And then of course risk management
and tax planning. Here's how we do it. Shoot us
(22:49):
a text if you would like, you can simply text
the word visit to two two five five two three
sixty three eighty nine. That's two two five five two
three sixty three eighty nine. Shoot the word visit and
we'll get back with you Monday and set up a
phone call to get the ball rolling Now. If you
(23:09):
prefer to call, you can do that too. Two two
five five two three sixty three eight nine. That's two
two five five two three six three eight nine, and
you'll get a voicemail. Leave some information there. We'll get
back with you and help you begin understanding how much
risk you have, how active you need to be in
setting up your plan for retirement.
Speaker 1 (23:30):
So we're talking active versus passive investing. So we have
more with Matt Kennedy op Presley Wealth Management right after
this on Your Money.
Speaker 6 (23:37):
Matters text book to two two five five two three
six three eight nine to get an instant download of
chapter one of Christy Smith's book, Unlock Your Smart Plan.
That's book to two two five five two three sixty
(23:57):
three eighty nine.
Speaker 5 (24:00):
A quarter twenty five cents, that's hardly anything.
Speaker 4 (24:03):
Right ah, But at Presley Wealth Management we see quarters
a little differently. A quarter is a lot when it's
a quarter.
Speaker 5 (24:10):
Of your retirement savings.
Speaker 4 (24:11):
So do you want to pay twenty five percent or
more in taxes during your retirement? At Presley Wealth we
help create a plan to help you address taxation. If
the only time you think about taxes is when you
file them, you don't have a tax strategy, but it's
not too late to get one. Act now to make
sure you're not paying a quarter, dime, or even a
penny more than you should, call Christy and the team
(24:32):
at Pressley Wealth Management at five two three sixty three
eighty nine.
Speaker 5 (24:36):
That's two two five five two three six three.
Speaker 4 (24:39):
Eight nine to schedule your personalized tax strategy session. A
quarter saved as a quarter earned so called two two
five five two three sixty three eight nine. That's two
two five five two three sixty three eight nine.
Speaker 6 (24:52):
Investment advisory services offered through AE Wealth Management LLC. A
registered investment advisor firm, may not give tax advice. Text
visit to two two five five two three sixty three
eighty nine to set up your complimentary meeting with the
Presley Wealth Management team. That's a visit to two two
five five two three sixty three eight nine.
Speaker 1 (25:17):
Glad you're with us today for your money matters with
Matt Kennedy of Presley Wealth Management. Christy Smith, the founder
of Presley Wealth Management, started the company in two thousand
and six. Christy not with us today, but Matt, he's
an old radio guy. He can handle this show for us. Uh,
I'm Mark lay glad you're with us Presleywealthmanagement dot com.
If you'd like to learn more about Christy Maatten the
team Presleywealthmanagement dot com. You can always give him a
(25:38):
call fee you have questions, and if you'd like a
chapter of the book, you can always text book to
two two five five two three sixty three eighty nine.
They'll just send that right to you. Two two five
five two three sixty three eighty nine. Christy's written a
great book about retirement and kind of the smart process
that they walk clients through. Really, it's just a little
about retirement planning. Two two five five two three sixty
(25:59):
three eight nine. We're talking active versus passive investing. Most
of us are passive investors. We just put it in
the four oh one k let her ride and hope
it all works out. And it's worked out pretty well
for most. The problem is when you get closer to retirement.
Matt talked about sequence of return to risk. But if
you're retired in two thousand and seven, you might have
had a tough time retiring because the market went down
(26:22):
right after you're retired. But those things are always going
to happen, so you need a strategy because Matt and
Christy can't guarantee you the markets will be up when
you retire. So that's where the strategies come in to
really help us make sure and have that feeling of
less stress. We're not worried about running out of money
before we run out of life. It's about a strategy,
and that's certainly what Christy and Matt and the team
(26:42):
at Presley Wealth can do for you. Hopefully don't know
if they can help until you reach out, but you
do have that opportunity two two five five, two three
sixty three eighty nine. What I wonder is you started
at the end of two thousand and eight, and really
the markets did not turn until March of nine, and
then they went on a nice ten year run basically
right right. But that was when Leno and Letterman were saying, Hey,
(27:03):
I hope you're enjoying your two oh one K. I
know you thought it was a four oh one K,
but it's now a two oh one K. What I
wonder is from when you got in, because you came
from the radio world to this investment world with Presley
Wealth Management and Christy, how much has technology changed the game,
Because you said, people come in and we're going to
try to figure out their risk factor. We've got to
(27:25):
special software. How much has software kind of changed the
planning process?
Speaker 5 (27:30):
It's good question.
Speaker 4 (27:32):
I'm thinking back to those dark days of two thousand
and eight early two thousand and nine mark cell phones.
Obviously we had phones back then, but there's so much
more easier to use their faster, they can hold so
much more data. I'm vividly remembering that many people didn't
realize how bad it was until they actually physically opened
(27:54):
their statement at the end of each and every month.
Some people only got a quarterly statement. Know, some firms
only hand out quarterly statements. And I will tell you
that some people were stunned and that's what prompted them
to call our office. And at the time I was
getting licensed and I was in the meetings with Christy,
and they would tell Christy, Hey, our guy quote unquote
(28:17):
from our brokerage firm hasn't called us, and we opened
our quarterly statement and we can't believe that, you know,
we've lost twenty four percent. And then tears would start
flowing because the next words were but we really wanted
to retire at the end of this year and now
having lost this much money, I don't know if if
we can do it, and the pain of watching people.
Speaker 5 (28:38):
Go through that.
Speaker 4 (28:38):
I mean, look, I was forty one years old at
the time. I wasn't retiring. I knew my four oh
one K was getting bashed. But I'm like, I'll come back,
I'll put more money into it. But when you see
the pain of someone who's dreams and hopes are being
crushed right before your very eyes, that tells me that
someone didn't do a good job of planning. Now, if
(29:00):
they were in a four to oh one K, not
blaming that person that you know they didn't have the
knowledge to maybe go in and make adjustments, But if
they were working with a firm that should have been
acting in their best interest, well that's bad. Because the
technology we had then was we could look at the
statement and we could run reports, but they were slower.
(29:21):
Sometimes it would take us a week to get the
reports back. Now we can get a report back in
hours that can quickly show us how much risk.
Speaker 5 (29:29):
You really have. And we're not scared of the stock
market mark.
Speaker 4 (29:32):
I'm not saying that when we stress test your current portfolio,
the goal is to scare you.
Speaker 5 (29:38):
It's to show you the facts.
Speaker 4 (29:40):
You know, if you walk in and your risk score
is By the way, we don't use the words moderate
or aggressive or conservative. We use a risk score. So
a one means you bury money in the backyard. You
stuff it in the mattress. That's what you do. Humark
if I had any okay, I'm ninety nine means you
(30:03):
don't hesitate it, hop it on the motorcycle, no helmet,
driving down the iten crossing the causeway in the fog.
I mean you're super risky. Right, So if you own
a bunch of individual stocks and you like to actively
manage those yourself, you're probably a ninety eight ninety nine.
If you instead have a well diversified plan that's going
(30:25):
to take you into retirement, you understand that your risk
score might need to be a forty. What does that mean, Well,
it means I'm taking less risk. So I may not
have as big of a return when the market is good,
but I should, with this properly designed portfolio, take less
of a loss when things are bad. Let me tell
(30:46):
you about diversification. The tools are able to show us
what your risk number should be, and one of the
things we do is we ask you point blank, how
comfortable are you with the following rain of return.
Speaker 5 (31:01):
Notice I didn't say a rate of return.
Speaker 4 (31:04):
I think the single biggest thing that has happened since
even twenty twenty when the big COVID crash happened. Of
course it was a quick recovery. People became more sensitive
about the highs and the lows in their portfolio. When
you're young and you're saving mark, rate of return is everything,
because if you average twelve percent versus ten percent over
(31:25):
a twenty five year period, it turns into a lot
more money. But when you get closer to retirement, certainly
within three years and the two to three years when
you're first retired, what matters more than your rate of
return is your range of return. And what I mean
is if the stock market. You know, if you have
(31:47):
a portfolio in your four oh one K that can
mirror the stock market, that means it can sore up
twenty eight thirty percent in one year, but it could
also drop thirty five forty.
Speaker 5 (31:57):
Percent in a year.
Speaker 4 (31:59):
When you are heading into retirement, when you're drawing from
your retirement savings, it's all about reducing your risk.
Speaker 5 (32:05):
I urge.
Speaker 4 (32:06):
You don't get caught up as you get ready to retire,
as you are first retired, don't get caught up on
rate of return, get obsessed with range of return and
the probability of you not running out of money.
Speaker 5 (32:20):
I think mark is significantly higher.
Speaker 1 (32:22):
All right, final thing on passive versus active investing, because
I think it's really interesting. So what value do you
think somebody might gain by just coming in and having
a conversation with you and the team at Presley Wealth Management.
Speaker 4 (32:34):
The number one value is to find out what you
don't know or to correct an assumption that you have
that is incorrect. Doesn't mean we're smarty pants and we
know everything, but we walk you through five areas, the
key five areas of retirement planning, sources of income. I
hear so many people who say, well, I heard my
(32:56):
neighbor told me that X, Y and Z is true
about social Security. I'm sure your neighbor is a nice person,
but they're wrong, right, And so number one, the visit
will clarify the rules and how they apply in your situation.
So when we talk about medicare, there's so many misunderstandings.
I had a couple come in and the lady was
extremely worried. She's like, I haven't paid in the forty
(33:19):
quarters of Social Security, and I know I can draw
some social Security for my husband. But my neighbor told
me we actually, she said a friend told me that
she's got the same worry I have that I can't
get Medicare. No, you can qualify for Medicare based on
your spouses earning record. All of a sudden, this weight
fell off of her right, She's like, Okay, now, good
(33:40):
help a shop for a Medicare plan. So that visit
when you sit down with us, well, first of all,
help clarify how much risk you have, how much risk
you should have, how much risk you have of running
out of money. But more importantly, it helps us find
out what you may think you know but there's a misunderstanding,
(34:02):
or maybe you just don't know something and you want
to better understand how to manage risk.
Speaker 5 (34:07):
It's what we do. So reach out to is.
Speaker 4 (34:09):
You can text the word visit to two two five
five two three sixty three eighty nine. It's two two
five five two three six three eight nine. If you're
driving and you don't want to text, please don't just
call you'll get a voicemail, we'll collect some information. I'll
leave us a message and we'll collect some information Monday
(34:31):
and reach out to you for a no cost, no obligation.
Visit again, text the word visit or call two two
five five two three sixty three eighty nine.
Speaker 1 (34:41):
What do we come back? Our final segment, We're gonna learn.
We're gonna ask Matt some crazy questions. We're gonna see
what he has to say. We're gonna learn more about
Matt Kennedy right after this on Your Money Matters back
in one minute.
Speaker 6 (34:52):
You listen to Christy Smith and Mack Kennedy on the radio.
Now go in and talk with them in person. Let
them help you retire with confidence. Two two five five
two three six three eight nine, or go online to
Presleywealthmanagement dot com.
Speaker 2 (35:10):
With chaos on the news and uncertainty in the markets,
are you worried that your retirement savings could be at risk? Hi,
this is Christy Smith with Presley Wealth Management. Tariffs, trade wars,
and a shaky stock market have left many retirees asking
what's next for my financial future? If you've been asking
that question, it's time to take action. Come sit down
(35:31):
with me and my team so that we can review
your financial plan and help make sure that you're prepared
for the challenges ahead. Just called two two five five,
two three six three eight nine for a free visit. Together,
we'll create a strategy to help you preserve what you've
worked so hard to build. Don't wait. Call me Christy
Smith at Presley Wealth Management at two two five five
(35:52):
two three six three eight nine to schedule your visit.
There's no cost to meet, but my calendar is filling
up fast. Called two two five five two three six
three eight nine.
Speaker 6 (36:04):
Investment advisory services offered through AE Wealth Management LLC, a
registered investment advisor. Text Book to two two five five
two three six three eight nine to get an instant
download of chapter one of Christy Smith's book, Unlock Your
Smart Plan. That's book to two two five five two
(36:26):
three sixty three eighty nine.
Speaker 1 (36:30):
Welcome back to your money Matters with Christy Smith and
Matt Kennedy of Pressley Wealth Management. You can always learn
more and find out about upcoming events Pressleywealthmanagement dot com
if you'd like to talk with them. Though you're not
really sure where you are on that rotary timement, I
think I've got enough. I hope I've got enough, but
I don't really know. Perfect time to chat with the team.
There's no cost for this, there's no obligation. It is
two two five five two three sixty three eighty nine.
(36:52):
Two two five five two three sixty three eighty nine.
We're gonna do a little combination here, little mailbag segment
with something fast things. We've never done it before, so
we're kind of looking forward to see how this all
plays out. All right, first question, Christy, I'll give you this.
What could be the impact on my pension if I
decide to retire early.
Speaker 2 (37:14):
Well, the first impact was that you would likely receive
less money because you're working for a shorter time period.
The next thing you want to consider is are you
going to take a lump sum pension or are you
going to take the pension payments? If you retire early
at a young age, maybe taking the pension payments would
be the better option because you would have a higher guaranteed.
Speaker 5 (37:35):
Amount of income.
Speaker 2 (37:36):
But then you have to consider well, because most children
never get a pension payment. If if husband and wife
pass away in a car accident, it's going children don't
receive the money. So you know, how do I offset
to leave my children the money that I've that I've
worked hard and saved far and still be able to
take the pension payment. So retiring early can your pension
(37:58):
can be affected by a lot of different things. The
interest rate environment when you retire, you know that affects
your pension payment.
Speaker 1 (38:05):
All right, Christy, how here's another question for you. How
do I calculate for inflation when trying to figure out
if I have saved enough?
Speaker 2 (38:13):
Well, when I calculate for inflation, you know, with with
my client's retirement planning, I always calculate a higher than
average level of inflation to their expenses, meaning I'm going
to make it look like their expense goes up by
a certain percentage. I you know, we can look at
even like a five percent inflation costs to expenses just
(38:35):
to see what the long term outlook would be. Now,
last year, the argument would be inflation was, you know,
more than that, but on average over the last thirty
years that it wasn't higher. So we just want to
make sure that in our plan we're building an automatic
inflation that is that's like a rate of return that
that's going to be added to the actual expenses each year,
(38:56):
you'd be quite surprised. Mark over a thirty year period,
we would expect that our clients need, meaning their expense need,
the money they're going to need to live on is
actually going to be double what it is when they retire.
Speaker 1 (39:09):
Yeah, it is amazing when you look at that, and
that's kind of why they always say, what the compound
interest is the eighth wonder of the world. That's kind
of that same kind of thing, but in reverse when
it comes to inflation. All right, Matt, final question before
our lightning round. When should most people start planning for retirement.
We'd love to do it once we start our first job,
but most people don't think they're ever going to get
(39:30):
to that age. When you're twenty, can't think of being sixty.
So when's the right time to start planning for retirement?
Speaker 4 (39:37):
So, once upon a time, before the wroth four oh
one k was a thing, we would always say, well,
start planning around fifty right Nowadays, when you get your
first job, if you have the option for wroth four
oh one K, it's probably very important that you consider
adding some money to that to help hedge the taxes
later in life. But certainly if you plan to retire
(39:59):
at the state age of say sixty two, I believe
when you're fifty Christy, you may have a different opinion,
but certainly by the time you're fifty you better start
looking long and hard and fast that have I saved enough?
Am I saving in the right places? Am I being
tax efficient? And what things have I not thought about? Certainly,
twelve years before you retire you really have to begin
(40:20):
formulating a plan. And the five years before you retire,
that's a real critical zone. That five year period before
you retire and the five year period after you retire
you have to be very cognizant of stock market risk
and so that's a real critical zone where you have
to have a very nailed down plan. Our goal is
(40:40):
to help you retire, live a great retirement and to
leave a legacy for your children and grandchildren. We help,
and it all starts with a phone call. So reach
out to is a two two five five two three
sixty three eighty nine, text visit two two five five
two three six three eight nine, and we'll be happy
(41:02):
to spend fifteen twenty minutes on the phone just getting
to know your current situation.
Speaker 2 (41:06):
And I always like to recommend that the year before
you retire, actually test drive your retirement, like you don't
buy a car before you test drive it. Right, live
the year before you retire the way you're going to
live in retirement.
Speaker 5 (41:22):
I like that.
Speaker 1 (41:23):
So again, if you'd like to chat with the team
at Presley Wealth Management, it is two two five five
two three sixty three eighty nine. Two two five five
two three sixty three eighty nine. An easy one to remember,
I think is just meet with us noow dot com.
Set up your own fifteen minute conversation with the Presley
Wealth Management team. All Right, we're gonna do something we've
(41:43):
never done before. This is a little lightning round and
it's really about you too individually. Uh, And so I'm
just gonna throw out a topic. I just want a
quick answer. We'll see how many we can get to
in like two minutes. Okay, So Christy, here's the deal.
For example, it's gonna be what's on your bucket list? Christy,
you go first, Matt, you give me yours, and then
we'll just go through and see how many we can
get through. All right, you're good with that, okay? All right,
(42:07):
So Christy first, Matt. Then the same thing, same question,
and give me an answer. All right, what's on your
bucket list? Christy?
Speaker 2 (42:13):
Well, my bucket list is number one is to see
Presley right at the National Finals Rodeo in Vegas, Germany.
Speaker 1 (42:22):
Germany.
Speaker 5 (42:23):
I want to see Germany.
Speaker 1 (42:24):
Okay, what's your biggest what is your biggest pet? Peeve?
Speaker 2 (42:29):
Putting the roll of toilet paper.
Speaker 5 (42:31):
On the holder wrong? So which way is right?
Speaker 7 (42:36):
Well?
Speaker 2 (42:36):
Up, you put it to where the when you're the
role comes.
Speaker 5 (42:41):
Up, it goes down in the front, in the front.
Speaker 1 (42:45):
You got it, not underneath?
Speaker 5 (42:47):
Like it when I go not underneath.
Speaker 2 (42:50):
That is my biggest pet.
Speaker 4 (42:52):
Pee Mine is people who order it to drive through
at a fast food restaurant. Pull up eight feet and
start taking the stuff out. Get out of the way.
Move Okay, we're done.
Speaker 1 (43:00):
All right. Favorite comfort food Christy.
Speaker 5 (43:03):
I'd say ice cream, chicken pot pie.
Speaker 1 (43:06):
Okay.
Speaker 8 (43:07):
Favorite athlete of all time Christy, Joe Burrow, Michael Jordan,
all right, favorite book The Bible Where the Red Fern Grows.
Speaker 1 (43:19):
The movie you will watch over and over again.
Speaker 5 (43:23):
The notebook Cherriots a Fire.
Speaker 1 (43:26):
Okay, mine would be Maverick. All right, Holiday, you look
forward to Holiday, you look forward to the most christy.
Speaker 5 (43:37):
Thanksgiving Christmas.
Speaker 1 (43:39):
The earliest financial lesson you each have learned.
Speaker 5 (43:43):
Oh that's good.
Speaker 2 (43:46):
That was when I was like seven years old and
my mom paid me a penny for every gumball I
picked up in the yard from the gumball tree, and
then she made me pay for my candy bar at
the store. I realized it takes a lot to get
what you want.
Speaker 4 (44:02):
Earliest financial lesson I actually, oh, my lord, I'm afraid
to confess this. I guess the statute of limitations has
run out. I was maybe six years old and I
stole a piece of bubble gum from Horner's Grocery on
Section Road in Erwinville, and my dad made me go
back inside, apologized, went home, got us spanking, and had
(44:23):
to work helping him to earn enough money to pay
back the piece of gum.
Speaker 5 (44:28):
Of course, it was five cents, but my dad made
me work for a dollar, kind of like me picking
those gum balls up exactly, but I was in trouble.
So that's my earliest financial lesson.
Speaker 1 (44:37):
Okay, there's our quick lightning round you guys. I get
thirty seconds. I'll let you wrap up today's show.
Speaker 5 (44:42):
So listen.
Speaker 4 (44:43):
Life is all about our experiences, and if you're planning
to retire or if you're already retired, we offer just
to sit down conversation.
Speaker 5 (44:53):
That's really what it is.
Speaker 4 (44:54):
You know our goal is, and to shove a pen
in your hand and have you sign a piece of
paper and say be our client. Our goal is to
help you retire, live a great retirement and to leave
a legacy for your children and grandchildren. We help, and
it all starts with a phone call. So reach out
to is at two two five five two three sixty
(45:14):
three eighty nine, text visit two two five five two
three six' three eight, nine and we'll be happy to
spend fifteen twenty minutes on the phone just getting to
know your current, situation whether you're planning for retirement or already,
retired and we sit down face to face and build
you a retirement plan that can last and leave a.
(45:35):
Legacy so reach out to is at seven nine one
five seven seven.
Speaker 3 (45:38):
Three Presley Wealth management has a strategic partnership with tax
professionals and attorneys who can provide tax and or legal.
Speaker 6 (45:45):
Advice investment advisory products and services made available THROUGH Ae
Wealth MANAGEMENT, llcaewm a registered investment. Advisor insurance products are
offered through the insurance business The Presley. Group Presley Wealth
management is an investment advisory. Practice it offers products and
services THROUGH Ae Wealth MANAGEMENT, llcawm a registered investment. ADVISOR
(46:06):
awm does not offer insurance. Products the insurance products offered
by The Pressley group are not subject to investment advisor.
REQUIREMENTS awm and The Pressley group are not affiliated. Companies
investing involves, risk including the potential loss of. Principle any
references to, protection, safety or lifetime income generally refer to
fixed insurance, products never securities or. Investments insurance guarantees are
(46:26):
backed by the financial strength and claims paying abilities of
the issuing. Carrier this radio show is intended for informational purposes.
Only it is not intended to be used as a
sole basis for financial, decisions nor should it be construed
as advice designed to meet the particular needs of an individual.
Situation The Presley group is not permitted to, offer and
no statement made during the show shall constitute tax or legal.
Advice our firm is not affiliated with or endorsed by
(46:47):
THE us government or any governmental. Agency the information and
opinions contained herein provided by third parties have been obtained
from sources believed to be, reliable but accuracy and completeness
cannot be guaranteed by The Presley. Group this radio show
is a paid placement
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