March 1, 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.
Your Money Matters airs Saturdays and Sundays at 9 am on WJBO Newsradio 1150 AM and 98.7 FM in Baton Rouge.
Your Money Matters airs Saturdays and Sundays at 9 am on WJBO Newsradio 1150 AM and 98.7 FM in Baton Rouge.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
When the news is national.
Speaker 2 (00:01):
SOB, security system volatility, global turmoil, interest rates, Rock Dan
Wall Street.
Speaker 3 (00:05):
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 fledged 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. It's what
we do every day.
Speaker 3 (00:40):
The conversation starts now this is your money Matters.
Speaker 1 (00:49):
Welcome to your money Matters. I'm Mark Kelly. It alongside
the founder of Presley Wealth Management, that is Christy Smith.
Also with us, Matt Kennedy, matt'smen, with Christie's team now
for over a decade. Glad you're with us. We talk retirement.
Can I retire? Do we have enough? Or we're gonna
be okay? Or our loved ones to be okay at
the end of the day. Do we have enough? Can
we retire and live our lifestyle that we've always dreamed
(01:09):
of in retirement? Don't know? All you have to do
is call the team at Presley Wealth Management to find out.
It's two two five seven nine to one fifty seven
seventy three two two five seven nine one fifty seven
seventy three. And of course I always think it's easy.
You always go to the website Presleywealthmanagement dot com Presleywealthmanagement
dot com. But if you really want to talk to him,
and an easy way to do it is just go
(01:30):
to meet with us now dot com. Have a fifteen
minute twenty minute phone call, have a conversation, your your concerns,
your questions, and then that way you're actually talking to somebody,
they can ask you follow up questions. You can ask
them follow up questions. That's really how you get to
the nitty gritty. Are you good? Are you not good?
Meet with us now dot com. Christy Matt, Welcome to
the show. And Christy, there's a whole lot going on
(01:50):
in our government these days. We certainly know that the
taxes has been a big deal. We've been talking about
taxes on the show for what a decade, wouldn't you say.
Speaker 2 (01:58):
Mm hmmm, yeah, definitely.
Speaker 1 (02:00):
So with this new tax agenda, the twenty seventeen Tax
Cuts and Jobs Act, Trump put it in in Trump
one point oh if you will. Now we're in Trump
two point zero, and he has said he's going to
continue that. There's a lot of little things in this thing, though,
and I haven't started, you know, I'm sixty five. I
haven't started. So scaredy yet, I'm all in, let's get
rid of federal SOB scurity tax. But there's a lot
going on. What's your take on some of these things?
Speaker 2 (02:23):
Well, I think that if he is able to get
it passed, it probably wouldn't be till the end of
this year. I don't think it's going to happen as
quickly as many would like to see it happen.
Speaker 1 (02:32):
So you think he's waiting till I start it, then
he would put it into play because he doesn't care.
Speaker 2 (02:36):
Yeah, maybe so. Well, I think in theory, what we
would want to do is is we would want to
make sure we're continuing to tax plan with our clients,
just because we don't exactly know what's going to go through.
I do not believe that they will get anything changed
like set in Stone in the near future. I think
(02:58):
it's going to be later in the year before we do.
And with that said, I think it's really important to
understand even if he did get the you know, tax
cuts that he's pushing through to pass, at some point,
taxes will have to go up again, and so it's
it's a matter of do we pay now or do
(03:20):
we pay later. And for our clients, we want to
constantly tax plan. You know, one of the biggest issues
we see in retirement is taxes. Mark, did you know
a million dollars? People will come to us and meet
with us for the first time and they're excited because
they have a million dollars in their IRA, and I say, well,
how much of that million dollars do you actually have?
(03:41):
Because think about it, that's one of the biggest debts
you're going to have is the irs with a million
dollar IRA. So typically we're going to say, Okay, you
don't really have a million dollars, you really only have
about seven hundred thousand, and so we always want to
work on building an efficient tax plan. For many of
our clients when they retire, it's not as much of
(04:02):
an issue when they get older and they're forced to
take required distributions. That's when we see Uncle Sam, you know,
really hurt our clients. And especially if we have a
husband and wife and one of them passes away and
now we have a single taxpayer being required to take
required minimum distribution at age seventy five, and they're now
(04:26):
having to pay more in taxes because that distribution isn't
you know, it's not any lower because there's only one person.
So tax planning is the key, and we talk about,
you know, ways that we can tax plan, and there's
so many things that we can do. Most people have
heard of a Roth conversion, but that is not the
only tax strategy available.
Speaker 1 (04:47):
So you think about this taxes and certainly the twenty
seventy Tax Cuts and Jobs Act, and why it's so
important is because it actually sunsets at the end of
this year. And so Trump certainly has said he will
try to continue that, but at the end of the day,
it's Congress's decision. And Matt, I'd like your take on that,
because Christy said, look, we know we taxes have to
go up at some point. The one thing is we
had four years of not knowing anything that was going on.
Now we have four years of maybe knowing way too
(05:09):
much it's going on, and we start giving money back
to the people and the economy starts booming. We can
actually fight the debt in a different way other than taxes.
I don't is that even possible.
Speaker 4 (05:20):
I'm not sure about the net impact of tariffs, something
need to study up on. But I do know this.
I haven't voted. I personally have not voted yes to
any new tax in thirty years. When it comes up
on the ballot in my parish, Nope, When it comes
up for the state, Nope. No renewals. I'll typically vote
yes too. The reason I've been very staunched for thirty
(05:42):
years and said nope is exactly what Doge is uncovering.
There is so much fraud, There is so much waste.
By being able to trim out the junt not trim out,
take a chainsaw and cut out so much of the
waste and fraud, that alone would be a tax cut
from many Americans right there, Even if the tax brackets
(06:03):
don't change, just cutting out the fraud would help reduce
the deficit dramatically. But there's pain, though, Christy, because hundreds
of thousands of people are gonna get laid off because
they've been not showing up at work, not doing anything.
And the short term impact on the market and the
economy could actually be damaging. But I think it's for
the greater good in the long term.
Speaker 1 (06:23):
Trump said. He said, Okay, so if we go find
a trillion dollars from by Doze that Matt was just
talking about and tariffs, we get a trillion there. Now
we're spending two trillion, we're getting bringing in two trillion.
There's no inflation. I don't know if that's right either,
because I'm far from an economy.
Speaker 4 (06:37):
I just need to understand how tariff's impact us better.
I'm just confessing it. I'm not a terrific expert. I
guess we need to book a terrific expert on the
show and ask them. You know.
Speaker 1 (06:46):
Yeah, so, hey, here's a deal. If you have any
questions about where you are, boy, what about taxes? How
will that affect us in retirement? Meet with usnow dot com.
You talk with Christy Matt and the team at Presley
Wealth Management. There's no cost, there's no obligation, there's no
pressure either. There's no judgment either. Really it's about you.
How can they help. If they can, they certainly tell you.
And if they can't, they'll tell you that as well.
But I think you can get some answers just by
having a quick conversation with the team and then figure
(07:08):
out where to go from there. Meet with us now
dot com. So you think about all these this tax
policy twenty seventeen, tax cuts and jobs actually sunsets at
the end of the year, and there's a lot going on.
The no tax on tips, no tax on overtime pay,
no tax on senior Social Security. There's a lot of
moving parts here. And it's one of the things Christy,
we always talk about. We don't have control over the
(07:30):
tax brackets, what dollar amounts going to this percent, the
twelve percent, twenty four or thirty six, whatever it is. Right,
we don't control any of that, but we do, with
your help, have control over when and how we attack
these taxes.
Speaker 2 (07:42):
Right, yeah, absolutely. And the thing is is that you know,
while President Trump would like to get these tax cuts past,
we know he isn't the one who can make it happen.
You know, Congress is in charge of that policy. And
so I think right now it's it's just a wait
and see in terms of what is actually going to happen.
(08:04):
I mean, we we think about taxes on Social Security
benefits and wow, I'm going to pay taxes on Social
Security benefits. I mean, many people don't even realize that
they will actually pay taxes when there are social Security benefits,
because I don't think social Security benefits were actually ever
intended to be taxed, since we're taxed already on them.
Speaker 4 (08:22):
They weren't while we're working, you know.
Speaker 2 (08:25):
And so I do one hundred percent believe that we
won't see uh, this tax bill passed in the next
you know month. I think it's going to take time,
and I think it's important to understand that, even if
they do get things past, you know, in this year,
it's important to know that, you know, four or five
(08:46):
years down the road, we can see a whole new
tax policy you know, come out, and so it's important
to plan. You know, people that are self employed, like myself,
you know, we think about an exit strategy. We think about, okay,
in you know, ten years from now, what are we
going to do with the business when we retire. Well,
(09:07):
for me, it's a simple answer. You know, I've got
Presley coming up in the wings and she hopes to
continue this legacy. But for many business owners, like think
about it, like dentist attorneys, what are they going to do?
What's their exit strategy? And honestly, there's a lot of
different tools that they can use that actually can help them.
Tax plan now, it's something that they don't need to
(09:30):
wait until they are ready to sell the business to consider.
To me, having a plan. You can always make adjustments
or tweaks to the plan, but it's important to understand
your options and actually have a plan.
Speaker 1 (09:45):
Matt I would say. It's also the same thing for
pre retirees. It's not wait till you're retired to have
a meeting with you. Guys. It's five to ten years
out is a great time to meet, sit down with
you and put the plan together. Then you have time
before we actually retire. It's kind of like playing golf.
Mark you love golf, I know, and I love this analogy.
Speaker 4 (10:04):
A slight adjustment at the t box can make tremendous
It can make a huge difference two hundred and forty
five yards down the fairway. It's like those days when
you're having a good day in golf, right and you
and you hit the ball and right down the middle.
But if you're just slightly off, now you're out of bounds.
Same thing. It's because you're hitting the ball so far right.
(10:26):
But if you wait until you're putting, when you're already
retired or you're on the cusp of retirement, you've got
a lot less margin for error. So small adjustments now
pay big dividends down the road. Here's the thing. I
think that Trump tax cuts will be extended, but I'm
like Christy, it'll take a while. But then there's another
presidential election coming up in less than four years, and
(10:47):
you don't know what that administration will do. So instead
of leaving it up to the unknown, work under the
present law. Get yourself in a better position, no matter
what Congress or a president does. We help with that.
It's our smart retirement plan. We look at sources of income,
(11:07):
how do we help you with medical and medicare, advanced planning,
managing risk, and of course what we're talking about right now,
helping you reduce your and your family's future tax burden.
Reach out to us at seven ninety one five seven
seven three. That's two two five seven nine one five
seven seven three you'll get the machine, leave a message
(11:29):
we'll contact you back on Monday. Or if you would
like to go online and schedule a fifteen minute, no cost,
no obligation consultation, just to chat. Find out where you are.
We are at meetwith usnow dot com. That's meet with
usnow dot com.
Speaker 1 (11:43):
We've got a lot to get to your money matters
with Christy Smith and Matt Kennedy. Just getting started. Stay
with us for back right after this.
Speaker 5 (11:50):
Does inflation have you pinching pennies? Are you reconsidering retirement plans?
Don't make any hasty decisions just yet. Come meet with
Christy Smith and At Kennedy to get started on the
right foot. Call eight sixty six three nine oh twelve
fifty two. That's eight six six three nine oh twelve
fifty two to get a free fifteen minute meeting, or
(12:12):
go to Presleywealthmanagement dot com.
Speaker 4 (12:16):
Stop for a moment, think about this. Do you know
how much money in your four oh one k or
ira is actually your money? Although the government take a
bigger chunk than you thought. Remember you still may owe
taxes on that money. But do you have a plan
to help make sure you don't pay more than you should.
At Presley Wealth Management, we believe you deserve to keep
more of what you've earned, which is why we're here
(12:37):
to help you navigate the confusing world of retirement taxes.
It's your money. You deserve to know what's at stake.
Right now, taxes are historically low, but they won't be
this low forever. So call us at seven nine one
five seven seven three. That's seven nine one five seven
seven three. Look, you work hard for your money, we'll
work just as hard to help you keep it. Presley
(12:57):
Wealth Management seven ninet one five seven.
Speaker 5 (13:00):
Investment advisory services offer through a Wealth Management LLC, a
registered investment advisor. Investing involves risk. Always consult with a
qualified tax advisor before making any decisions regarding a ROTH conversion,
as there may be additional tax considerations. Be smart when
it comes to your retirement. Presley Wealth Management has a
smart plan to help you better understand the process. Set
(13:23):
up your no consultation appointment. To get your smart planning
in place, call eight sixty six three nine.
Speaker 2 (13:29):
Oh twelve fifty two.
Speaker 5 (13:30):
That's eight six six three nine oh twelve fifty two.
Speaker 1 (13:36):
Welcome back to your money matters with Christy Smith and
Matt Kennedy of Presley Wealth Management. You can always find
out more on the website Presleywealthmanagement dot com. If you
want to have a conversation with them, you can call
them two two five seven nine to one fifty seven
seventy three. That's seven nine to one fifty seven seventy three.
Easiest thing to remember, I think is just meet with
usnow dot com. Set up your own time, have a
fifteen to twenty minute conversation with the team. Here's my question,
(13:58):
here's my concerns, what do you think, and then you're
actually talking to somebody. That's a great way to do it.
I think meet with us NOOW dot com. I'm Markelley,
Glad you're with us. We're gonna talk about some of
the unknowns when it comes to retirement, and I think
these unknowns have probably been the same for all retirees, right.
I think all retirees at the end of the day
don't know how long they're gonna be here. They don't
(14:18):
know if them or their spouse will have health issues
or a family member will have health issues that affects
their retirement. We don't know where the markets are gonna go.
They're gonna go up, they're gonna down, they're gonna be flat.
We just don't know. Things are always changing in that area.
And then taxes, certainly, we talk taxes a lot on
this program, So there's a lot up in the air
when it comes to all these things. And all of
these are really unknowns. We don't really know what's going
(14:39):
to happen. And you know, Matt, when you think about longevity,
I would think longevity is probably the number one risk
to retirement because you can, you do have the opportunity
to maybe not live long enough or maybe you live
too long. But we don't know. And when you guys
create that smart retirement plan for your clients, you don't
know the end date.
Speaker 2 (15:00):
Mark. I know you you asked Matt about this, but
if you don't mind, I'd like to take a second
to talk about this because I recently had a conversation
with a good friend of mine. Their name is Pat
and Joe, and Joe is having to make decisions right
now because her husband recently fell in their primary home.
(15:22):
It was in North Carolina, and it took an hour
and a half for the emergency responders to get there
because of where they're located. And then it was very
difficult to get pat out of the house because of
the way the house is designed. So they're having to
make a lot of changes to their life right now.
And one of the things that Joe told me was
(15:44):
she said, you know, Christy, we just lived too long.
We outlived our plan. And because now they're they're having
to move, they're getting a mortgage, you know, to move
because they realize it not actually say for them to
stay in their home. And when she said to me,
(16:07):
we've lived too long, that resonated with me because honestly,
I hear all the time talking with clients that they
believe that they're going to live until they're eighty, you know,
seventy five eighty. But what we're seeing is we're seeing
people live so much longer. And to me, a huge
concern in building a plan should be what if you
(16:30):
just live too long? I know Matt has experienced that
with his parents.
Speaker 4 (16:34):
Yeah, I mean they're not you know whipper snappers. Mom
and dad will be eighty four this year. I think
that there's two things that I noticed. Number One, I
think people underestimate how long one of them will live.
And I'll tell you what stands out to me, Christy.
So when I go to my parents' Independence and Slash
assisted living facility, what's the one thing that really jumps
(16:56):
out to me?
Speaker 2 (16:57):
The age of the people that are there.
Speaker 4 (16:59):
The age is that but it's mostly women. The women
outnumber men six to one, There's no doubt about it.
I sitting down having lunch with my parents on a
weekend and I just looked around the room and I
noticed my dad's one of the few men there. So, guys,
I'm telling you, if you don't have a plan in place,
what ends up happening is she not only is having
(17:22):
to spend more money, because just because one person dies
doesn't mean the expenses get cut in half.
Speaker 1 (17:27):
You know, the.
Speaker 2 (17:27):
Government the income gets cut in half too.
Speaker 4 (17:30):
Oftentimes the income gets cut in half. And you know,
if you're like a retired teacher and the windfall animation
still applies to you because you retired years ago, your
income can get cut in more than half. But the
government doesn't suddenly say, oh, your property taxes are lower
because there's just one person in the house. Not too
that's a reform that needs to happen. But if you
(17:51):
don't plan, longevity can absolutely be your worst enemy. Or
an early death of one of the spouses can be
a big.
Speaker 2 (18:00):
And for me, when I think about the risk that
we're looking at in building a long term retirement plan,
I think taxes is one of the biggest risk, But
the second biggest risk is going to be longevity.
Speaker 4 (18:11):
Oh absolutely well.
Speaker 2 (18:13):
And recently I read a study that Fidelity had put
out saying that the average cost that a couple will
pay for long term care services or health care services
is over three hundred thousand dollars.
Speaker 4 (18:30):
Wow.
Speaker 2 (18:31):
My question would be, do you have a plan for that, because.
Speaker 1 (18:33):
That's a huge part is healthcare costs. Longevity and healthcare costs,
that's huge. That's what another fary. We don't know. That's
why it's an unknown. We don't know if we will
get sick, our spouse will get sick, our family member
gets sick. We just don't know. How do you plan
for that in your smart program.
Speaker 4 (18:48):
The people who later in life tend to better whether
these changes we're talking about are those who took a
portion of their money and created some income. Because when
you're younger, hubnd a million bucks. Yes, it's the dollar
amount that matters, But take it from somebody who's done
this a long time. When you're eighty three, almost eighty four,
(19:08):
like my parents, when you're seventy nine, like my next
door neighbor. How much money you have is actually less
important to the quality of your life and your retirement
than your income is create some stable income. Remember we
talk about the smart plan that we specialize in the
first letter is s sources of income when you first retire,
(19:31):
do you have a plan to have a source or
sources of income? Where's your mailbox money? It'll matter, It'll
matter a lot when you go through some tough times,
bad markets, sickness, things like that, because many of these
plans have the ability to pay you double for a
short period of time, should and if you or your
spouse be ill. So it's all part of our planning
(19:52):
in this short term. How much money do you have
matters in the long term. How much income is what
gives you some stability when you reach the later years
and can really build a fortress around your spouse should
something happen to you and vice versa. We can tell
you more. Love to sit down with you where at
seven nine one five seven seven three. That's seven nine
(20:14):
one five seven seven three. You'll get the machine. Just
leave us the best way to contact you, and we'll
reach back out early next week and set up a
time to get together.
Speaker 1 (20:22):
You know, Christy, we started the show maybe ten years
ago when you and I started doing it together. And
that that number from the healthcare where you just said
three hundred thousand for the average healthy sixty five year
old couple will need for the end of their life,
not including long term care, that number was two hundred
and twenty thousand dollars ten years ago. So that mean
in ten more years it's actually four hundred thousand.
Speaker 4 (20:41):
I mean easily.
Speaker 1 (20:42):
I mean it's crazy.
Speaker 2 (20:44):
Well, that's why you see so many like assisted living
facilities pop up our community.
Speaker 1 (20:50):
They're not getting smaller I can they get.
Speaker 2 (20:51):
They're getting And they just opened one down the street.
I pass it every morning, come into work, and it's
and it's amazing to me because they're very, very nice facilities,
and you start thinking about how so many people can
afford them. Well, they afford them because back then, you know,
twenty years ago, people didn't ever think they were going
(21:13):
to need long term care, but they typically didn't live
with the debt that we live in today. They also
would leaving money to their children twenty years ago was
extremely important.
Speaker 4 (21:27):
So now they're enough money for me.
Speaker 2 (21:29):
So now they have enough money to pay for these
facilities because they were saving to leave to the children.
I mean, it's just a shift and where the money
is flowing. And so to me, having a plan that
is going to prepare you for life situations is extremely important.
And unfortunately, most people believe that Medicare is going to
(21:49):
cover the bulk of the cost of that care, and
in reality it doesn't. And you need to understand what
Medicare will pay for and what they won't pay for.
Speaker 1 (22:01):
I bet Presley could help him figure that out.
Speaker 2 (22:03):
Yeah, she would love to.
Speaker 1 (22:04):
You know.
Speaker 2 (22:04):
I had a conversation with a client last week. He
had an accident. He fell, hit his head and he
had spinal injury. They've done surgery on him twice, and
they moved him to a skilled nursing facility last week.
But he told me that the doctors have told him
(22:25):
with that type of injury, he could need care for
a minimum of a year wow before he gets back
to even being able to get up and walk around
and take care of himself by himself. And the question was, Okay,
how are we going to pay for that because Medicare
is only going to pay for that cost for about
one hundred days with co payments in his plan, So
(22:47):
how am I going to pay for that care? That's
where we were able to step in and say, you know,
don't worry. We've built a plan. We've got you taken
care of. So if you don't have a plan, think
about the emotional toll you now face. Like for this client,
he's already having this emotional situation where he's being told
(23:09):
he's probably gonna need extensive care for a year minimum,
and he's wondering about his health. But then how is
that going to affect his financial plan? And then how
is that going to affect his wife? And for us
to be able to say we've got a plan for this,
it's okay, just worry about getting well.
Speaker 4 (23:28):
You.
Speaker 2 (23:28):
You can't imagine the sense of peace that it gave
me to be able to tell him that. And that's
what we want to do for you. We want to
work to build you a smart plan. Give us a
call at seven ninety one five seven seven three. Seven
ninety one five seven seven three are going to meet
with usnow dot com.
Speaker 1 (23:46):
We're talking about the big unknowns, longevity and healthcare. We
come back, We're gonna have to talk about the unknowns
of the market and taxis back with more with Christian
Matt right after this. This is your money matter.
Speaker 6 (24:00):
Sam might need a loan soon from you. We have
over thirty four trillion dollars in national debt. Where do
you think the money to pay for that's going to
come from? Taxes? Believe it or not, taxes are at
historic lows right now, but how much longer will that last?
A roth Ira conversion might be a good option when
planning for your retirement because you can pay lower taxes
(24:20):
now and avoid potentially higher taxes later. Christy Smith and
the team at the Presley Group have seen taxes rise
and fall. They know what options you have to potentially
reduce the amount of taxes you pay in retirement. Call
the team at the Presley Group and schedule your tax
analysis today. Eight sixty six three nine zero twelve fifty two.
That's eight six six three nine zero one two five
(24:40):
to two. Uncle Sam needs money. Don't let him take
it from you. Eight six six three nine zero twelve
fifty two. Investment advisory services offer through a wealth management
LLC A retch should investment advisor. Investing involves risk. Always
consult with the qualifying tax advisor before making any decisions
regarding a roth conversion, as there may be additional tax considerations.
Speaker 5 (25:00):
If you aren't able to listen to this show in
its entirety, go to Presleywealthmanagement dot com to listen to.
Speaker 2 (25:06):
This and past radio shows.
Speaker 5 (25:08):
Otherwise, stick around to find out how Presley Wealth Management
will help you retire with confidence.
Speaker 1 (25:17):
Gold You're with us today for your money matters with
Christy Smith and Matt Kennedy of Presley Wealth Management two
two five, seven nine to one fifty seven seventy three.
If you have questions, well, you know what, I think
we've got enough to retire? I think I don't know,
but I think why not find out? Might be the
most important phone call you make, and there's no cost.
Seven nine to one fifty seven seventy three. Presley Wealth
(25:37):
Management here to help you figure out where you are
on that road to retirement. Can I retire? Do we
have enough?
Speaker 6 (25:42):
Do we not?
Speaker 1 (25:42):
How do we fix it if we don't? If we do?
Do we want to retire? Do we want to keep working?
A lot of questions? Seven nine one fifty seven seventy three.
Of course, you can always go to meet with us
now dot com. Set up a time to chat with
the team. Meet with usnow dot com. I'm Markelly Glader
with us. We're talking about the big unknowns that all
of us will face. There is no question one. We
talked longevity, right, we don't know how long we're going
to be here. We don't how long our spouse is
(26:03):
going to be here. How do we plan for that?
Healthcare costs, Holy cow, those have been going up. I
think when we were talking inflation back in the day
of you know, on eight, nine, ten, eleven, twelve, of
zero one percent that all of su but healthcare is
still going up six seven percent. That has not stopped.
So healthcare is still crazy expensive. And then you get
into long term care where Medicare doesn't cover most of
(26:24):
that only covers for a little bit of time. So
that's a huge challenge. All right. The other two big
unknowns we're going to talk about in this segment the
markets and taxes. So, Matt, the markets, that is one
of those things that I think we all wish the
markets will do nothing but go up, but they don't
just go up in a straight line. They go up,
they go down, they go flat. And that's where I
think it comes back to your first part of your
(26:45):
smart program, the income. We don't want to base everything
on the markets. Okay, the markets were great, I guess
we can go take that trip. Oh, the markets are bad.
I guess we can't do anything this year. We don't
want that to be based on our retirement.
Speaker 4 (26:57):
I like to talk about three very important letters. First
letter is S, the second letter is O, and the
third letter is R S R. We obsess about this
here at Presley Wealth Management and its sequence of returns.
I wish this were TV for a moment so I
(27:18):
could show you what an Excel spreadsheet to demonstrate this.
But Christy, you've seen us together talk about this many
many many times. Sequence of returns is very simple. If
you have five hundred thousand dollars and you plan to
draw out, say twenty five thousand a year, to live
on five percent. Right, if you retire and the stock
(27:38):
market is your friend, if you retire into a bull market,
that is, you retire into a rock solid sequence of returns,
there's a very good chance, right, Christy, that the amount
of money that you're taking out each year is more
than being replaced by market returns. For example, if you
had retired in two thousand and sixteen, Steen to seventeen
(28:00):
was great, seventeen to eighteen, eighteen to nineteen, nineteen to twenty.
Of course, twenty was a bath, right, but it came
back quickly after COVID. But for many of you who
have retired recently, you've had nothing but a solid sequence
of returns. But when I came to work here in
two thousand and eight, early two thousand and nine, I
saw people in this office who had been somewhere else,
(28:22):
who didn't have a plan, didn't have a plan to
hedge risk, and they had been exposed to a very
cruel sequence of returns because in two thousand and eight
the stock market dropped thirty eight percent, and the pain
didn't end. It went down another fifteen percent and bottomed
March of two thousand and nine. I can still see
those people around that table, Christy saying, well, our broker
(28:43):
told us just hang in there and reduced the amount
where withdrawing or start renting out the condo in Gulf
Shores and will be okay. They did not take into
account sequence of return, so we don't know if you're
going to retire into a bull or a bear.
Speaker 1 (29:00):
So what do we do?
Speaker 4 (29:01):
We plan for both. You want some money that's exposed
to the market and can really do well, but you
need some money that can actively hedge the risk. And
you need a floor, a foundation of money that if
the market's good, you can make some money. If it's bad,
you're not going to get killed. It's all about range
of return. Notice I didn't say rate of return. Too
(29:26):
many of you are obsessed with your rate of return.
I am. I'm obsessed with my rate of return because
I'm fifty eight years old. I'm not retiring tomorrow. So
if I can make seventy percent in a year, woo,
Because if I lose fifty, eh, I'll make it back.
But if you're close to retiring or recently in retiring,
stop obsessing about your rate of return. Be more obsessed
(29:48):
about your range. What I mean by range. If the
market can go up thirty, it can go down thirty.
You would probably be better off with a lower range
of return. Hey, I'm going to be happy making eighteen
even if the market may thirty, because if it drops thirty,
I want my base to be around fifteen percent. So
we design plans that smooth out the highs and lows
(30:11):
to help you weather any type of tough sequence of returns.
So again, if there's one message we can leave you,
be obsessed when you're close to retiring or when you're
recently retired, be obsessed with your range of return. I'll
be glad to show you that spreadsheet and talk more
about this when you come in where it's seven nine
one five seven seven three. A lower rate of return
(30:34):
when you're withdrawing from your savings can actually mean a
bigger balance down the road. I'm going to say that again,
when you have a bad sequence of returns, lower rates
of return can actually mean more money. Why because you're
not getting slaughtered when things get bad. We'll show you
two two five seven nine one five seven seven three.
(30:56):
And as Mark was going to say, there's no cost,
no obligation. You can even go to meet with usnow
dot com and set a time for us to chatt
on the phone and set up a meeting.
Speaker 1 (31:05):
Well, Chris, do you think about it? When people come
in for the first time, typically say, like Matt, they're
fifty eight. Let's say, for example, they're going to retire
at sixty five, most of their money, almost all of
their money is sitting in four o one ks and
iras well. Once you retire, it's not like you leave
all your money at risk. I wouldn't. You don't have
one hundred. Your clients probably don't have one hundred percent
of their money in the market. I would guess is
that fair to say?
Speaker 6 (31:25):
Yeah?
Speaker 2 (31:26):
Well, typically what we want to do is is we
want to create a risk plan, and we use a
risk number, and so basically, if someone is sixty years
old and one hundred is the highest level of risk,
we're going to have about sixty percent of their money
at risk and about forty percent of their money in
safe environments. So you want to think about not only
(31:49):
diversifying in the stock market, but you also want to
diversify in your safer environments as well. So we want
to look at that and build a long term plan.
A lot of times what we'll do is we'll use
the safe money to build a plan where we're generating income,
and that safe money will generate that income for ten
twelve years while their risk portion of money is growing
(32:12):
and therefore, when the safe money runs out in you know,
ten twelve thirteen years, we've grown enough in their risk
bucket that we're able to replenish the safe money and
just start over. Because you've got to think about the
effects of ups and downs when it comes to the
stock market. You know, if if you lose thirty percent,
(32:34):
you you don't make thirty percent to get back even, No,
because you're making that thirty percent on less money. It
basically takes double the amount of.
Speaker 4 (32:43):
Returns fifty to get back to each to get back
to even.
Speaker 2 (32:47):
And so we want to build a plan that is
going to allow our clients to not worry about where
they're getting their income because think about it, in retirement. There,
if there's income is the name of the game in retirement.
So what we don't want to do is we don't
want to be the company that says, oh, we're having
(33:07):
a down market right now, let's lower your income. Let's
change your right change it. Yes, let's change your plan. No,
we want to build a plan that is that is
poised to to succeed and get you through those storms
where you're not having to make emotional decisions, because I
think that's one of the biggest problems people go through
(33:28):
in retirement. When they're living on their money, is they
go through this emotional toll of you know, I do
I need to change my income? You know, am I
am I taking too much income. Often we're able because
of the way that we will ladder our investments. We're
able to say, hey, you can actually take out a
little bit more. And that's always a good conversation. So
(33:50):
I think having a real plan that understands risk, taking
risk into consideration is extremely important.
Speaker 1 (33:59):
Final minute of this segment, we're gonna come back. We're
gonna have a big conversation in our final segment. But
you think about taxes, taxes, If you could save money
in taxes, it's almost better than a return in the market.
Speaker 4 (34:10):
Could be say that one more time, mark.
Speaker 1 (34:12):
So savings from taxes could be bigger return on your
money than the market.
Speaker 4 (34:18):
Absolutely, here's why I thought, that's what you said. Here's why.
If you have five hundred thousand dollars and you want
to take out twenty five thousand, if it's all taxable,
then you have to take out twenty five thousand plus
the taxes. So you may have to take out thirty
one thousand to get twenty five Well, that subjects more
of your money to going down. If all of that
(34:41):
money is tax free and you need twenty five thousand,
you take twenty five, that means you're taking less money.
It gives your money more longevity.
Speaker 2 (34:48):
Well let alone how a big withdrawal can affect your
IRMA penalties for your medicare, what are you paying for
your medicare? Part B absolutely benefits, So there is a
rippling effects. So to me, tax planning as soon as possible,
as as young as possible, is extremely important.
Speaker 1 (35:06):
Mark seven nine to one fifty seven seventy three. If
you'd like to call the team at Pressley Wealth Management
two two five seven nine to one fifty seven seventy three.
And of course you can always go to meet with
us now dot com. I think it's the most important
thing you could do today, probably because we're talking to
the next twenty thirty years of your life. Seven nine
to one fifty seven seventy three or meet with us
now dot com. Headed to our final segment of today's
(35:27):
Your Money Matters with Christy Smith and Matt Kennedy Presley
Wealth Management. We're back bat after This.
Speaker 5 (35:33):
Is the price tag on everything giving you sticker shock,
from groceries to gas. The cost of living is skyrocketing.
But if you think inflation is painful, now just wait
until you retire. Easy impact of inflation, and start planning
now for your retirement. Called Presley Wealth Management at eight
six six three nine oh twelve fifty two. That's eight
(35:55):
six six three, nine oh twelve fifty two.
Speaker 1 (36:00):
Stop for them all.
Speaker 4 (36:01):
Think about this. Do you know how much money in
your four oh one k or ira is actually your money?
Speaker 1 (36:07):
All?
Speaker 4 (36:07):
Will the government take a bigger chunk than you thought?
Remember you still may owe taxes on that money, but
do you have a plan to help make sure you
don't pay more than you should? At Presley Wealth Management,
we believe you deserve to keep more of what you've earned,
which is why we're here to help you navigate the
confusing world of retirement taxes. It's your money, you deserve
to know what's at stake. Right now, taxes are historically low,
(36:30):
but they won't be this low forever. So call us
at seven nine one five seven seven three. That's seven
nine one five seven seven three. Look, you work hard
for your money, will work just as hard to help
you keep it. Pressley Wealth Management seven ninety one five
seven seven three.
Speaker 5 (36:45):
Investment advisory services offer through a wealth management LLC a
registered investment advisor. Investing involves risk. Always consult with the
qualified tax advisor before making any decisions regarding your ROTH conversion,
as there may be additional tax consideration. Christy Smith of
Presley Wealth Management wants to advocate for you making sure
(37:07):
you have the retirement you have always wanted. Call eight
sixty six three nine oh twelve fifty two and make
sure Presley Wealth is the right bit for you. You
won't know until you call eight sixty six three nine
oh twelve fifty two.
Speaker 1 (37:23):
Welcome back to your money matters with Christy Smith and
Matt Kennedy of Presley Wealth Management. They're the team that's
here to help you come up with your smart retirement plan.
Think about it's income, it's about your investments. It's about taxes.
It's about healthcare. It's about legacy planning. What about SoC
scurity it's in the income part. What about Medicare? It's
in the healthcare part. A lot of pressure on you
as a retiree. Our grandparents had those kind of things
(37:44):
taken care of, they had pensions, they had so scurity.
Income is not a problem. A lot of times they
stayed on the healthcare plan at their work. Those things
have all changed. So that's where Christy and Matt and
the team at Presley Wealth come along to help you
figure out where you are. Seven nine one fifty seven
seventy three two two five seven nine one fifty seven
seventy three. There is no constant chat with the team.
Meet with us now dot com is an easy one
(38:04):
to remember, right, Just go there, set up your own
time to have a fifteen twenty minute conversation with him,
and then from there you figure out, hey, should we
meet again? It's meet with usnow dot com. I'm Mark Elliott.
Now you guys are so much younger than I. I'm
sixty five. Holy cow, we're gonna talk scams in this
final segment.
Speaker 4 (38:19):
Scams, Oh lord.
Speaker 1 (38:21):
It is. It is really crazy. You guys know where
I work and we have to do a test every
month and it's on scams, emails, phishing attempts, all those
kind of things, and it's just crazy. I get. I
had a text the other day that I'm like, and
it was I think it was from Discover and it said, hey,
your credit card is now out of date, and I'm like,
(38:41):
what so I didn't respond to the text message at all.
I called Discover and they're like yeah, and I said, oh,
I got a new card. I didn't change the date. Okay,
that was legitimate, but I didn't respond to that. I
went and actually talked to the company, which made sense.
But that's because I'm paranoid about more stuff. I don't
trust all these emails I get, and they're out of control,
and it's all the time. Hey, you've got a package
(39:03):
of sitting here waiting for you. But all you have
to do is call us. And I get so many
of those I get. I bet I get ten a
week that I just deleted delete.
Speaker 4 (39:10):
Well, mom, I'm still waiting. I'm still waiting on that
money from my African prince uncle in Nigeria.
Speaker 1 (39:18):
Sent me a fact.
Speaker 4 (39:20):
I mean, I sent the five thousand dollars, and all
of a sudden, after I sent the money, the facts
has stopped coming. I was getting a fax every week here,
my rich Nigerian uncle wants to give me ten million
wand bat or something.
Speaker 2 (39:30):
You know, we're laughing about that.
Speaker 4 (39:31):
I'm just kidding. I didn't send him five thousand.
Speaker 2 (39:33):
Don't you actually know two people that I would consider
to be very intelligent people that have been scammed in
the last quarter. These scam orders are really good.
Speaker 4 (39:45):
My dad got a phone call his computer was locked.
He was told all he had to do was go
to the bank and make a deposit. He actually went
to the bank and the teller said, uh, brother Willie, No,
I'm not gonna let you do this because it a scam.
Then my dad called me and I said, Dad, never,
I said, can we just disconnect all phones and so
(40:06):
you don't get you guys know what I'm talking about.
I mean, social Security isn't gonna call you until you
you have a long lost relative. It's not gonna happen.
But now it's the fear tactic. Just here locally. Have
you heard about this one, Christy, You get the phone
call that you didn't respond to a bench warrant and
if you just send some money to the Sheriff's department
(40:29):
in Ascension Parish, it'll all be good. No, they don't
call you for that. They send two big old dudes
with guns to your house. They don't call you.
Speaker 2 (40:38):
And now they actually know about their children.
Speaker 4 (40:40):
Oh they know everything.
Speaker 2 (40:42):
They'll know everything about like their family, and so they
really use the scare tactics, they know where.
Speaker 4 (40:47):
You live every yep.
Speaker 1 (40:48):
It is incredible. You think, boy, these scammers are getting
so good, and they're they're adjusting with all the the
uh I guess software that's out there, all the computer stuff,
texting and phones and all that kind of stuff. They
can hack into anything. It seems like, how about if
you put that to legitimate use, you could actually make
some pretty good money in a fair way. I think
because they're incredible. I sixty Minutes did a special on
(41:10):
this and they went to some little island and it
wasn't the Philippines or you know, India or something, but
it was that kind of a place. When they went
in and it was a big building with just hundreds
of people on the phone, and they said, this is
where they're calling and they're setting this up. And when
they get just like your dad met, it's pretty easy
to fall for it. You're like, Wow, that's incredible, that's fantastic.
(41:31):
And now I'm so cynical. I don't buy anything. I
don't believe anything that that I'm reading in those kind
of things a text message, and I think just because
we get older, they start even playing on us more.
But it's not like I think twenty year olds don't
get scammed. I mean, that's still gonna happen too. I suppose,
well it could, but so you can tell it's age based.
Speaker 4 (41:48):
When you're younger, the spam is, hey, your UPS package
is ready, click this link. Well, I don't respond to
too many phone numbers that start with an international area
code of three eight. You know, I'm sorry delete report
as jump.
Speaker 2 (42:01):
But they don't always have the wrong code.
Speaker 4 (42:03):
They don't. A lot of them are getting better, and
they have local numbers. That's number one that is.
Speaker 1 (42:08):
On the phone.
Speaker 4 (42:09):
Yeah, I get it, Oh absolutely, and then number two,
number two. Now it's fear for older people, it's a
fear tactic. It's hey, we're gonna find you. We're going
to call the police and send you to jail. So
it's now they're preying on fear and forgetfulness the two f's,
if you will.
Speaker 1 (42:27):
Is it okay to respond to those and say, come on,
come on, I report junk all the time. Yeah, best
responses had used to I used to just delete everything,
but now I actually do hit the report junk stuff.
Speaker 4 (42:39):
Now there's this new have you heard about this one?
Mark the fake prescription scam. So a lot of people
buy their prescriptions online now and uh, you know, you'll
get get a notice that, hey, you have a special
two month for free offer if you respond to this link. Well,
the link is just getting into your computer so they
can sabotage your data. It's unbelievable. And with AI being
(43:03):
what it is, my daughter showed me an AI this
past weekend where Taylor Swift broke up with Travis Kelcey.
Have you seen this?
Speaker 1 (43:11):
It's unbelievable. I mean, the dealer Swift. The deep fakes
are the newest thing.
Speaker 4 (43:17):
How do we know who to believe anymore? I mean,
is it really Christy Smith and Matt Kennedy sitting here.
Speaker 1 (43:24):
Talking to them? It's crazy.
Speaker 4 (43:27):
I know. The deep fakes are a big, big, huge thing.
Precious metal is another. I'm just going off on the
ones I'm thinking of. Folks, you will get a lot
of calls about how the government is out to seize this,
that or the other, and if you just send us
some money, you will buy you some gold. Now, some
of that may be real. Folks. If you didn't initiate
(43:48):
the contact, don't deal with it. It's that simple. If
you did not initiate the contact. If someone cold called you,
I would be incredibly, incredibly suspetos. Heck, if it's in
the financial services sector, call your advisor or reach out
to us and just to ask, because we get an
updated list of these all the time, and.
Speaker 1 (44:08):
Certainly we see the romance scams where a widow or
widow er, you know, they're now seventies, eighties, and they're
lonely and they're like, yeah, I have great conversations with
somebody for a long time and they're not real. I mean,
it's there's no end to this. Christie.
Speaker 2 (44:21):
We actually had a client that that happened to yep,
and and you know, we could see it, but she couldn't.
Speaker 4 (44:26):
You know.
Speaker 2 (44:27):
Unfortunately, her husband passed away four or five years ago,
and the people get lonely, Mark.
Speaker 1 (44:33):
Christy, I got one. I've been divorced for a couple
of decades now, I suppose, and I got one from
a just a gorgeous fifty something and I'm sixty five
and I'm looking at her going there's no possible way
if she saw me, shere's no way somebody that attracted
that was my deduction there, Christy.
Speaker 4 (44:50):
Wow, easy, Hello, Mark, not buying it. Maybe a fake
psychiatrist needs to call you give you some self confidence.
I'm just kidding. It's scary and watching these people pray
on people my parents' age.
Speaker 1 (45:03):
The spam.
Speaker 4 (45:04):
I looked at my mom's phone the other day and
my mind was blown by the number of scam texts
Now've taught or don't touch it, leave it alone, it's
out of control. Well listen, I'm going to remember it.
By the way for Oh, I am too special place
in hell. But here's the deal. If you didn't originate
the call, do not respond. That's the safest thing. If
(45:25):
it's the cops and they really need you, they'll find you.
They'll not they'll call your family. Don't respond. God bless
you all. Remember we're here to help. Reach out anytime
seven nine to one, five seven seventy three or meet
with us now dot com.
Speaker 3 (45:40):
Presley Wealth Management has a strategic partnership with tax professionals
and attorneys who can provide tax and or legal advice.
Speaker 5 (45:46):
Investment advisory products and services made available through AE Wealth
Management LLC AWM, a registered investment advisor. Insurance products are
offered through the insurance business the Presley Group. Presley Wealth
Management is an investment advisory practice at all first products
and services through AE Wealth Management LLCAWM, a registered investment advisor.
AWM does not offer insurance products. The insurance products offered
(46:09):
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 backed
by the financial strength and claims paying abilities of the
issuing carrier. This radio show is intended for informational purposes only.
(46:32):
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 the
US government or any governmental agency. The information and opinions
contained herein provided by third parties have been obtained from
(46:53):
sources believed to be reliable, but accuracy and completeness cannot
be guaranteed by the Presley Group.
Speaker 2 (46:58):
This radio show is a paid placement
When the news is national.
Speaker 2 (00:01):
SOB, security system volatility, global turmoil, interest rates, Rock Dan
Wall Street.
Speaker 3 (00:05):
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 fledged 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. It's what
we do every day.
Speaker 3 (00:40):
The conversation starts now this is your money Matters.
Speaker 1 (00:49):
Welcome to your money Matters. I'm Mark Kelly. It alongside
the founder of Presley Wealth Management, that is Christy Smith.
Also with us, Matt Kennedy, matt'smen, with Christie's team now
for over a decade. Glad you're with us. We talk retirement.
Can I retire? Do we have enough? Or we're gonna
be okay? Or our loved ones to be okay at
the end of the day. Do we have enough? Can
we retire and live our lifestyle that we've always dreamed
(01:09):
of in retirement? Don't know? All you have to do
is call the team at Presley Wealth Management to find out.
It's two two five seven nine to one fifty seven
seventy three two two five seven nine one fifty seven
seventy three. And of course I always think it's easy.
You always go to the website Presleywealthmanagement dot com Presleywealthmanagement
dot com. But if you really want to talk to him,
and an easy way to do it is just go
(01:30):
to meet with us now dot com. Have a fifteen
minute twenty minute phone call, have a conversation, your your concerns,
your questions, and then that way you're actually talking to somebody,
they can ask you follow up questions. You can ask
them follow up questions. That's really how you get to
the nitty gritty. Are you good? Are you not good?
Meet with us now dot com. Christy Matt, Welcome to
the show. And Christy, there's a whole lot going on
(01:50):
in our government these days. We certainly know that the
taxes has been a big deal. We've been talking about
taxes on the show for what a decade, wouldn't you say.
Speaker 2 (01:58):
Mm hmmm, yeah, definitely.
Speaker 1 (02:00):
So with this new tax agenda, the twenty seventeen Tax
Cuts and Jobs Act, Trump put it in in Trump
one point oh if you will. Now we're in Trump
two point zero, and he has said he's going to
continue that. There's a lot of little things in this thing, though,
and I haven't started, you know, I'm sixty five. I
haven't started. So scaredy yet, I'm all in, let's get
rid of federal SOB scurity tax. But there's a lot
going on. What's your take on some of these things?
Speaker 2 (02:23):
Well, I think that if he is able to get
it passed, it probably wouldn't be till the end of
this year. I don't think it's going to happen as
quickly as many would like to see it happen.
Speaker 1 (02:32):
So you think he's waiting till I start it, then
he would put it into play because he doesn't care.
Speaker 2 (02:36):
Yeah, maybe so. Well, I think in theory, what we
would want to do is is we would want to
make sure we're continuing to tax plan with our clients,
just because we don't exactly know what's going to go through.
I do not believe that they will get anything changed
like set in Stone in the near future. I think
(02:58):
it's going to be later in the year before we do.
And with that said, I think it's really important to
understand even if he did get the you know, tax
cuts that he's pushing through to pass, at some point,
taxes will have to go up again, and so it's
it's a matter of do we pay now or do
(03:20):
we pay later. And for our clients, we want to
constantly tax plan. You know, one of the biggest issues
we see in retirement is taxes. Mark, did you know
a million dollars? People will come to us and meet
with us for the first time and they're excited because
they have a million dollars in their IRA, and I say, well,
how much of that million dollars do you actually have?
(03:41):
Because think about it, that's one of the biggest debts
you're going to have is the irs with a million
dollar IRA. So typically we're going to say, Okay, you
don't really have a million dollars, you really only have
about seven hundred thousand, and so we always want to
work on building an efficient tax plan. For many of
our clients when they retire, it's not as much of
(04:02):
an issue when they get older and they're forced to
take required distributions. That's when we see Uncle Sam, you know,
really hurt our clients. And especially if we have a
husband and wife and one of them passes away and
now we have a single taxpayer being required to take
required minimum distribution at age seventy five, and they're now
(04:26):
having to pay more in taxes because that distribution isn't
you know, it's not any lower because there's only one person.
So tax planning is the key, and we talk about,
you know, ways that we can tax plan, and there's
so many things that we can do. Most people have
heard of a Roth conversion, but that is not the
only tax strategy available.
Speaker 1 (04:47):
So you think about this taxes and certainly the twenty
seventy Tax Cuts and Jobs Act, and why it's so
important is because it actually sunsets at the end of
this year. And so Trump certainly has said he will
try to continue that, but at the end of the day,
it's Congress's decision. And Matt, I'd like your take on that,
because Christy said, look, we know we taxes have to
go up at some point. The one thing is we
had four years of not knowing anything that was going on.
Now we have four years of maybe knowing way too
(05:09):
much it's going on, and we start giving money back
to the people and the economy starts booming. We can
actually fight the debt in a different way other than taxes.
I don't is that even possible.
Speaker 4 (05:20):
I'm not sure about the net impact of tariffs, something
need to study up on. But I do know this.
I haven't voted. I personally have not voted yes to
any new tax in thirty years. When it comes up
on the ballot in my parish, Nope, When it comes
up for the state, Nope. No renewals. I'll typically vote
yes too. The reason I've been very staunched for thirty
(05:42):
years and said nope is exactly what Doge is uncovering.
There is so much fraud, There is so much waste.
By being able to trim out the junt not trim out,
take a chainsaw and cut out so much of the
waste and fraud, that alone would be a tax cut
from many Americans right there, Even if the tax brackets
(06:03):
don't change, just cutting out the fraud would help reduce
the deficit dramatically. But there's pain, though, Christy, because hundreds
of thousands of people are gonna get laid off because
they've been not showing up at work, not doing anything.
And the short term impact on the market and the
economy could actually be damaging. But I think it's for
the greater good in the long term.
Speaker 1 (06:23):
Trump said. He said, Okay, so if we go find
a trillion dollars from by Doze that Matt was just
talking about and tariffs, we get a trillion there. Now
we're spending two trillion, we're getting bringing in two trillion.
There's no inflation. I don't know if that's right either,
because I'm far from an economy.
Speaker 4 (06:37):
I just need to understand how tariff's impact us better.
I'm just confessing it. I'm not a terrific expert. I
guess we need to book a terrific expert on the
show and ask them. You know.
Speaker 1 (06:46):
Yeah, so, hey, here's a deal. If you have any
questions about where you are, boy, what about taxes? How
will that affect us in retirement? Meet with usnow dot com.
You talk with Christy Matt and the team at Presley
Wealth Management. There's no cost, there's no obligation, there's no
pressure either. There's no judgment either. Really it's about you.
How can they help. If they can, they certainly tell you.
And if they can't, they'll tell you that as well.
But I think you can get some answers just by
having a quick conversation with the team and then figure
(07:08):
out where to go from there. Meet with us now
dot com. So you think about all these this tax
policy twenty seventeen, tax cuts and jobs actually sunsets at
the end of the year, and there's a lot going on.
The no tax on tips, no tax on overtime pay,
no tax on senior Social Security. There's a lot of
moving parts here. And it's one of the things Christy,
we always talk about. We don't have control over the
(07:30):
tax brackets, what dollar amounts going to this percent, the
twelve percent, twenty four or thirty six, whatever it is. Right,
we don't control any of that, but we do, with
your help, have control over when and how we attack
these taxes.
Speaker 2 (07:42):
Right, yeah, absolutely. And the thing is is that you know,
while President Trump would like to get these tax cuts past,
we know he isn't the one who can make it happen.
You know, Congress is in charge of that policy. And
so I think right now it's it's just a wait
and see in terms of what is actually going to happen.
(08:04):
I mean, we we think about taxes on Social Security
benefits and wow, I'm going to pay taxes on Social
Security benefits. I mean, many people don't even realize that
they will actually pay taxes when there are social Security benefits,
because I don't think social Security benefits were actually ever
intended to be taxed, since we're taxed already on them.
Speaker 4 (08:22):
They weren't while we're working, you know.
Speaker 2 (08:25):
And so I do one hundred percent believe that we
won't see uh, this tax bill passed in the next
you know month. I think it's going to take time,
and I think it's important to understand that, even if
they do get things past, you know, in this year,
it's important to know that, you know, four or five
(08:46):
years down the road, we can see a whole new
tax policy you know, come out, and so it's important
to plan. You know, people that are self employed, like myself,
you know, we think about an exit strategy. We think about, okay,
in you know, ten years from now, what are we
going to do with the business when we retire. Well,
(09:07):
for me, it's a simple answer. You know, I've got
Presley coming up in the wings and she hopes to
continue this legacy. But for many business owners, like think
about it, like dentist attorneys, what are they going to do?
What's their exit strategy? And honestly, there's a lot of
different tools that they can use that actually can help them.
Tax plan now, it's something that they don't need to
(09:30):
wait until they are ready to sell the business to consider.
To me, having a plan. You can always make adjustments
or tweaks to the plan, but it's important to understand
your options and actually have a plan.
Speaker 1 (09:45):
Matt I would say. It's also the same thing for
pre retirees. It's not wait till you're retired to have
a meeting with you. Guys. It's five to ten years
out is a great time to meet, sit down with
you and put the plan together. Then you have time
before we actually retire. It's kind of like playing golf.
Mark you love golf, I know, and I love this analogy.
Speaker 4 (10:04):
A slight adjustment at the t box can make tremendous
It can make a huge difference two hundred and forty
five yards down the fairway. It's like those days when
you're having a good day in golf, right and you
and you hit the ball and right down the middle.
But if you're just slightly off, now you're out of bounds.
Same thing. It's because you're hitting the ball so far right.
(10:26):
But if you wait until you're putting, when you're already
retired or you're on the cusp of retirement, you've got
a lot less margin for error. So small adjustments now
pay big dividends down the road. Here's the thing. I
think that Trump tax cuts will be extended, but I'm
like Christy, it'll take a while. But then there's another
presidential election coming up in less than four years, and
(10:47):
you don't know what that administration will do. So instead
of leaving it up to the unknown, work under the
present law. Get yourself in a better position, no matter
what Congress or a president does. We help with that.
It's our smart retirement plan. We look at sources of income,
(11:07):
how do we help you with medical and medicare, advanced planning,
managing risk, and of course what we're talking about right now,
helping you reduce your and your family's future tax burden.
Reach out to us at seven ninety one five seven
seven three. That's two two five seven nine one five
seven seven three you'll get the machine, leave a message
(11:29):
we'll contact you back on Monday. Or if you would
like to go online and schedule a fifteen minute, no cost,
no obligation consultation, just to chat. Find out where you are.
We are at meetwith usnow dot com. That's meet with
usnow dot com.
Speaker 1 (11:43):
We've got a lot to get to your money matters
with Christy Smith and Matt Kennedy. Just getting started. Stay
with us for back right after this.
Speaker 5 (11:50):
Does inflation have you pinching pennies? Are you reconsidering retirement plans?
Don't make any hasty decisions just yet. Come meet with
Christy Smith and At Kennedy to get started on the
right foot. Call eight sixty six three nine oh twelve
fifty two. That's eight six six three nine oh twelve
fifty two to get a free fifteen minute meeting, or
(12:12):
go to Presleywealthmanagement dot com.
Speaker 4 (12:16):
Stop for a moment, think about this. Do you know
how much money in your four oh one k or
ira is actually your money? Although the government take a
bigger chunk than you thought. Remember you still may owe
taxes on that money. But do you have a plan
to help make sure you don't pay more than you should.
At Presley Wealth Management, we believe you deserve to keep
more of what you've earned, which is why we're here
(12:37):
to help you navigate the confusing world of retirement taxes.
It's your money. You deserve to know what's at stake.
Right now, taxes are historically low, but they won't be
this low forever. So call us at seven nine one
five seven seven three. That's seven nine one five seven
seven three. Look, you work hard for your money, we'll
work just as hard to help you keep it. Presley
(12:57):
Wealth Management seven ninet one five seven.
Speaker 5 (13:00):
Investment advisory services offer through a Wealth Management LLC, a
registered investment advisor. Investing involves risk. Always consult with a
qualified tax advisor before making any decisions regarding a ROTH conversion,
as there may be additional tax considerations. Be smart when
it comes to your retirement. Presley Wealth Management has a
smart plan to help you better understand the process. Set
(13:23):
up your no consultation appointment. To get your smart planning
in place, call eight sixty six three nine.
Speaker 2 (13:29):
Oh twelve fifty two.
Speaker 5 (13:30):
That's eight six six three nine oh twelve fifty two.
Speaker 1 (13:36):
Welcome back to your money matters with Christy Smith and
Matt Kennedy of Presley Wealth Management. You can always find
out more on the website Presleywealthmanagement dot com. If you
want to have a conversation with them, you can call
them two two five seven nine to one fifty seven
seventy three. That's seven nine to one fifty seven seventy three.
Easiest thing to remember, I think is just meet with
usnow dot com. Set up your own time, have a
fifteen to twenty minute conversation with the team. Here's my question,
(13:58):
here's my concerns, what do you think, and then you're
actually talking to somebody. That's a great way to do it.
I think meet with us NOOW dot com. I'm Markelley,
Glad you're with us. We're gonna talk about some of
the unknowns when it comes to retirement, and I think
these unknowns have probably been the same for all retirees, right.
I think all retirees at the end of the day
don't know how long they're gonna be here. They don't
(14:18):
know if them or their spouse will have health issues
or a family member will have health issues that affects
their retirement. We don't know where the markets are gonna go.
They're gonna go up, they're gonna down, they're gonna be flat.
We just don't know. Things are always changing in that area.
And then taxes, certainly, we talk taxes a lot on
this program, So there's a lot up in the air
when it comes to all these things. And all of
these are really unknowns. We don't really know what's going
(14:39):
to happen. And you know, Matt, when you think about longevity,
I would think longevity is probably the number one risk
to retirement because you can, you do have the opportunity
to maybe not live long enough or maybe you live
too long. But we don't know. And when you guys
create that smart retirement plan for your clients, you don't
know the end date.
Speaker 2 (15:00):
Mark. I know you you asked Matt about this, but
if you don't mind, I'd like to take a second
to talk about this because I recently had a conversation
with a good friend of mine. Their name is Pat
and Joe, and Joe is having to make decisions right
now because her husband recently fell in their primary home.
(15:22):
It was in North Carolina, and it took an hour
and a half for the emergency responders to get there
because of where they're located. And then it was very
difficult to get pat out of the house because of
the way the house is designed. So they're having to
make a lot of changes to their life right now.
And one of the things that Joe told me was
(15:44):
she said, you know, Christy, we just lived too long.
We outlived our plan. And because now they're they're having
to move, they're getting a mortgage, you know, to move
because they realize it not actually say for them to
stay in their home. And when she said to me,
(16:07):
we've lived too long, that resonated with me because honestly,
I hear all the time talking with clients that they
believe that they're going to live until they're eighty, you know,
seventy five eighty. But what we're seeing is we're seeing
people live so much longer. And to me, a huge
concern in building a plan should be what if you
(16:30):
just live too long? I know Matt has experienced that
with his parents.
Speaker 4 (16:34):
Yeah, I mean they're not you know whipper snappers. Mom
and dad will be eighty four this year. I think
that there's two things that I noticed. Number One, I
think people underestimate how long one of them will live.
And I'll tell you what stands out to me, Christy.
So when I go to my parents' Independence and Slash
assisted living facility, what's the one thing that really jumps
(16:56):
out to me?
Speaker 2 (16:57):
The age of the people that are there.
Speaker 4 (16:59):
The age is that but it's mostly women. The women
outnumber men six to one, There's no doubt about it.
I sitting down having lunch with my parents on a
weekend and I just looked around the room and I
noticed my dad's one of the few men there. So, guys,
I'm telling you, if you don't have a plan in place,
what ends up happening is she not only is having
(17:22):
to spend more money, because just because one person dies
doesn't mean the expenses get cut in half.
Speaker 1 (17:27):
You know, the.
Speaker 2 (17:27):
Government the income gets cut in half too.
Speaker 4 (17:30):
Oftentimes the income gets cut in half. And you know,
if you're like a retired teacher and the windfall animation
still applies to you because you retired years ago, your
income can get cut in more than half. But the
government doesn't suddenly say, oh, your property taxes are lower
because there's just one person in the house. Not too
that's a reform that needs to happen. But if you
(17:51):
don't plan, longevity can absolutely be your worst enemy. Or
an early death of one of the spouses can be
a big.
Speaker 2 (18:00):
And for me, when I think about the risk that
we're looking at in building a long term retirement plan,
I think taxes is one of the biggest risk, But
the second biggest risk is going to be longevity.
Speaker 4 (18:11):
Oh absolutely well.
Speaker 2 (18:13):
And recently I read a study that Fidelity had put
out saying that the average cost that a couple will
pay for long term care services or health care services
is over three hundred thousand dollars.
Speaker 4 (18:30):
Wow.
Speaker 2 (18:31):
My question would be, do you have a plan for that, because.
Speaker 1 (18:33):
That's a huge part is healthcare costs. Longevity and healthcare costs,
that's huge. That's what another fary. We don't know. That's
why it's an unknown. We don't know if we will
get sick, our spouse will get sick, our family member
gets sick. We just don't know. How do you plan
for that in your smart program.
Speaker 4 (18:48):
The people who later in life tend to better whether
these changes we're talking about are those who took a
portion of their money and created some income. Because when
you're younger, hubnd a million bucks. Yes, it's the dollar
amount that matters, But take it from somebody who's done
this a long time. When you're eighty three, almost eighty four,
(19:08):
like my parents, when you're seventy nine, like my next
door neighbor. How much money you have is actually less
important to the quality of your life and your retirement
than your income is create some stable income. Remember we
talk about the smart plan that we specialize in the
first letter is s sources of income when you first retire,
(19:31):
do you have a plan to have a source or
sources of income? Where's your mailbox money? It'll matter, It'll
matter a lot when you go through some tough times,
bad markets, sickness, things like that, because many of these
plans have the ability to pay you double for a
short period of time, should and if you or your
spouse be ill. So it's all part of our planning
(19:52):
in this short term. How much money do you have
matters in the long term. How much income is what
gives you some stability when you reach the later years
and can really build a fortress around your spouse should
something happen to you and vice versa. We can tell
you more. Love to sit down with you where at
seven nine one five seven seven three. That's seven nine
(20:14):
one five seven seven three. You'll get the machine. Just
leave us the best way to contact you, and we'll
reach back out early next week and set up a
time to get together.
Speaker 1 (20:22):
You know, Christy, we started the show maybe ten years
ago when you and I started doing it together. And
that that number from the healthcare where you just said
three hundred thousand for the average healthy sixty five year
old couple will need for the end of their life,
not including long term care, that number was two hundred
and twenty thousand dollars ten years ago. So that mean
in ten more years it's actually four hundred thousand.
Speaker 4 (20:41):
I mean easily.
Speaker 1 (20:42):
I mean it's crazy.
Speaker 2 (20:44):
Well, that's why you see so many like assisted living
facilities pop up our community.
Speaker 1 (20:50):
They're not getting smaller I can they get.
Speaker 2 (20:51):
They're getting And they just opened one down the street.
I pass it every morning, come into work, and it's
and it's amazing to me because they're very, very nice facilities,
and you start thinking about how so many people can
afford them. Well, they afford them because back then, you know,
twenty years ago, people didn't ever think they were going
(21:13):
to need long term care, but they typically didn't live
with the debt that we live in today. They also
would leaving money to their children twenty years ago was
extremely important.
Speaker 4 (21:27):
So now they're enough money for me.
Speaker 2 (21:29):
So now they have enough money to pay for these
facilities because they were saving to leave to the children.
I mean, it's just a shift and where the money
is flowing. And so to me, having a plan that
is going to prepare you for life situations is extremely important.
And unfortunately, most people believe that Medicare is going to
(21:49):
cover the bulk of the cost of that care, and
in reality it doesn't. And you need to understand what
Medicare will pay for and what they won't pay for.
Speaker 1 (22:01):
I bet Presley could help him figure that out.
Speaker 2 (22:03):
Yeah, she would love to.
Speaker 1 (22:04):
You know.
Speaker 2 (22:04):
I had a conversation with a client last week. He
had an accident. He fell, hit his head and he
had spinal injury. They've done surgery on him twice, and
they moved him to a skilled nursing facility last week.
But he told me that the doctors have told him
(22:25):
with that type of injury, he could need care for
a minimum of a year wow before he gets back
to even being able to get up and walk around
and take care of himself by himself. And the question was, Okay,
how are we going to pay for that because Medicare
is only going to pay for that cost for about
one hundred days with co payments in his plan, So
(22:47):
how am I going to pay for that care? That's
where we were able to step in and say, you know,
don't worry. We've built a plan. We've got you taken
care of. So if you don't have a plan, think
about the emotional toll you now face. Like for this client,
he's already having this emotional situation where he's being told
(23:09):
he's probably gonna need extensive care for a year minimum,
and he's wondering about his health. But then how is
that going to affect his financial plan? And then how
is that going to affect his wife? And for us
to be able to say we've got a plan for this,
it's okay, just worry about getting well.
Speaker 4 (23:28):
You.
Speaker 2 (23:28):
You can't imagine the sense of peace that it gave
me to be able to tell him that. And that's
what we want to do for you. We want to
work to build you a smart plan. Give us a
call at seven ninety one five seven seven three. Seven
ninety one five seven seven three are going to meet
with usnow dot com.
Speaker 1 (23:46):
We're talking about the big unknowns, longevity and healthcare. We
come back, We're gonna have to talk about the unknowns
of the market and taxis back with more with Christian
Matt right after this. This is your money matter.
Speaker 6 (24:00):
Sam might need a loan soon from you. We have
over thirty four trillion dollars in national debt. Where do
you think the money to pay for that's going to
come from? Taxes? Believe it or not, taxes are at
historic lows right now, but how much longer will that last?
A roth Ira conversion might be a good option when
planning for your retirement because you can pay lower taxes
(24:20):
now and avoid potentially higher taxes later. Christy Smith and
the team at the Presley Group have seen taxes rise
and fall. They know what options you have to potentially
reduce the amount of taxes you pay in retirement. Call
the team at the Presley Group and schedule your tax
analysis today. Eight sixty six three nine zero twelve fifty two.
That's eight six six three nine zero one two five
(24:40):
to two. Uncle Sam needs money. Don't let him take
it from you. Eight six six three nine zero twelve
fifty two. Investment advisory services offer through a wealth management
LLC A retch should investment advisor. Investing involves risk. Always
consult with the qualifying tax advisor before making any decisions
regarding a roth conversion, as there may be additional tax considerations.
Speaker 5 (25:00):
If you aren't able to listen to this show in
its entirety, go to Presleywealthmanagement dot com to listen to.
Speaker 2 (25:06):
This and past radio shows.
Speaker 5 (25:08):
Otherwise, stick around to find out how Presley Wealth Management
will help you retire with confidence.
Speaker 1 (25:17):
Gold You're with us today for your money matters with
Christy Smith and Matt Kennedy of Presley Wealth Management two
two five, seven nine to one fifty seven seventy three.
If you have questions, well, you know what, I think
we've got enough to retire? I think I don't know,
but I think why not find out? Might be the
most important phone call you make, and there's no cost.
Seven nine to one fifty seven seventy three. Presley Wealth
(25:37):
Management here to help you figure out where you are
on that road to retirement. Can I retire? Do we
have enough?
Speaker 6 (25:42):
Do we not?
Speaker 1 (25:42):
How do we fix it if we don't? If we do?
Do we want to retire? Do we want to keep working?
A lot of questions? Seven nine one fifty seven seventy three.
Of course, you can always go to meet with us
now dot com. Set up a time to chat with
the team. Meet with usnow dot com. I'm Markelly Glader
with us. We're talking about the big unknowns that all
of us will face. There is no question one. We
talked longevity, right, we don't know how long we're going
to be here. We don't how long our spouse is
(26:03):
going to be here. How do we plan for that?
Healthcare costs, Holy cow, those have been going up. I
think when we were talking inflation back in the day
of you know, on eight, nine, ten, eleven, twelve, of
zero one percent that all of su but healthcare is
still going up six seven percent. That has not stopped.
So healthcare is still crazy expensive. And then you get
into long term care where Medicare doesn't cover most of
(26:24):
that only covers for a little bit of time. So
that's a huge challenge. All right. The other two big
unknowns we're going to talk about in this segment the
markets and taxes. So, Matt, the markets, that is one
of those things that I think we all wish the
markets will do nothing but go up, but they don't
just go up in a straight line. They go up,
they go down, they go flat. And that's where I
think it comes back to your first part of your
(26:45):
smart program, the income. We don't want to base everything
on the markets. Okay, the markets were great, I guess
we can go take that trip. Oh, the markets are bad.
I guess we can't do anything this year. We don't
want that to be based on our retirement.
Speaker 4 (26:57):
I like to talk about three very important letters. First
letter is S, the second letter is O, and the
third letter is R S R. We obsess about this
here at Presley Wealth Management and its sequence of returns.
I wish this were TV for a moment so I
(27:18):
could show you what an Excel spreadsheet to demonstrate this.
But Christy, you've seen us together talk about this many
many many times. Sequence of returns is very simple. If
you have five hundred thousand dollars and you plan to
draw out, say twenty five thousand a year, to live
on five percent. Right, if you retire and the stock
(27:38):
market is your friend, if you retire into a bull market,
that is, you retire into a rock solid sequence of returns,
there's a very good chance, right, Christy, that the amount
of money that you're taking out each year is more
than being replaced by market returns. For example, if you
had retired in two thousand and sixteen, Steen to seventeen
(28:00):
was great, seventeen to eighteen, eighteen to nineteen, nineteen to twenty.
Of course, twenty was a bath, right, but it came
back quickly after COVID. But for many of you who
have retired recently, you've had nothing but a solid sequence
of returns. But when I came to work here in
two thousand and eight, early two thousand and nine, I
saw people in this office who had been somewhere else,
(28:22):
who didn't have a plan, didn't have a plan to
hedge risk, and they had been exposed to a very
cruel sequence of returns because in two thousand and eight
the stock market dropped thirty eight percent, and the pain
didn't end. It went down another fifteen percent and bottomed
March of two thousand and nine. I can still see
those people around that table, Christy saying, well, our broker
(28:43):
told us just hang in there and reduced the amount
where withdrawing or start renting out the condo in Gulf
Shores and will be okay. They did not take into
account sequence of return, so we don't know if you're
going to retire into a bull or a bear.
Speaker 1 (29:00):
So what do we do?
Speaker 4 (29:01):
We plan for both. You want some money that's exposed
to the market and can really do well, but you
need some money that can actively hedge the risk. And
you need a floor, a foundation of money that if
the market's good, you can make some money. If it's bad,
you're not going to get killed. It's all about range
of return. Notice I didn't say rate of return. Too
(29:26):
many of you are obsessed with your rate of return.
I am. I'm obsessed with my rate of return because
I'm fifty eight years old. I'm not retiring tomorrow. So
if I can make seventy percent in a year, woo,
Because if I lose fifty, eh, I'll make it back.
But if you're close to retiring or recently in retiring,
stop obsessing about your rate of return. Be more obsessed
(29:48):
about your range. What I mean by range. If the
market can go up thirty, it can go down thirty.
You would probably be better off with a lower range
of return. Hey, I'm going to be happy making eighteen
even if the market may thirty, because if it drops thirty,
I want my base to be around fifteen percent. So
we design plans that smooth out the highs and lows
(30:11):
to help you weather any type of tough sequence of returns.
So again, if there's one message we can leave you,
be obsessed when you're close to retiring or when you're
recently retired, be obsessed with your range of return. I'll
be glad to show you that spreadsheet and talk more
about this when you come in where it's seven nine
one five seven seven three. A lower rate of return
(30:34):
when you're withdrawing from your savings can actually mean a
bigger balance down the road. I'm going to say that again,
when you have a bad sequence of returns, lower rates
of return can actually mean more money. Why because you're
not getting slaughtered when things get bad. We'll show you
two two five seven nine one five seven seven three.
(30:56):
And as Mark was going to say, there's no cost,
no obligation. You can even go to meet with usnow
dot com and set a time for us to chatt
on the phone and set up a meeting.
Speaker 1 (31:05):
Well, Chris, do you think about it? When people come
in for the first time, typically say, like Matt, they're
fifty eight. Let's say, for example, they're going to retire
at sixty five, most of their money, almost all of
their money is sitting in four o one ks and
iras well. Once you retire, it's not like you leave
all your money at risk. I wouldn't. You don't have
one hundred. Your clients probably don't have one hundred percent
of their money in the market. I would guess is
that fair to say?
Speaker 6 (31:25):
Yeah?
Speaker 2 (31:26):
Well, typically what we want to do is is we
want to create a risk plan, and we use a
risk number, and so basically, if someone is sixty years
old and one hundred is the highest level of risk,
we're going to have about sixty percent of their money
at risk and about forty percent of their money in
safe environments. So you want to think about not only
(31:49):
diversifying in the stock market, but you also want to
diversify in your safer environments as well. So we want
to look at that and build a long term plan.
A lot of times what we'll do is we'll use
the safe money to build a plan where we're generating income,
and that safe money will generate that income for ten
twelve years while their risk portion of money is growing
(32:12):
and therefore, when the safe money runs out in you know,
ten twelve thirteen years, we've grown enough in their risk
bucket that we're able to replenish the safe money and
just start over. Because you've got to think about the
effects of ups and downs when it comes to the
stock market. You know, if if you lose thirty percent,
(32:34):
you you don't make thirty percent to get back even, No,
because you're making that thirty percent on less money. It
basically takes double the amount of.
Speaker 4 (32:43):
Returns fifty to get back to each to get back
to even.
Speaker 2 (32:47):
And so we want to build a plan that is
going to allow our clients to not worry about where
they're getting their income because think about it, in retirement. There,
if there's income is the name of the game in retirement.
So what we don't want to do is we don't
want to be the company that says, oh, we're having
(33:07):
a down market right now, let's lower your income. Let's
change your right change it. Yes, let's change your plan. No,
we want to build a plan that is that is
poised to to succeed and get you through those storms
where you're not having to make emotional decisions, because I
think that's one of the biggest problems people go through
(33:28):
in retirement. When they're living on their money, is they
go through this emotional toll of you know, I do
I need to change my income? You know, am I
am I taking too much income. Often we're able because
of the way that we will ladder our investments. We're
able to say, hey, you can actually take out a
little bit more. And that's always a good conversation. So
(33:50):
I think having a real plan that understands risk, taking
risk into consideration is extremely important.
Speaker 1 (33:59):
Final minute of this segment, we're gonna come back. We're
gonna have a big conversation in our final segment. But
you think about taxes, taxes, If you could save money
in taxes, it's almost better than a return in the market.
Speaker 4 (34:10):
Could be say that one more time, mark.
Speaker 1 (34:12):
So savings from taxes could be bigger return on your
money than the market.
Speaker 4 (34:18):
Absolutely, here's why I thought, that's what you said. Here's why.
If you have five hundred thousand dollars and you want
to take out twenty five thousand, if it's all taxable,
then you have to take out twenty five thousand plus
the taxes. So you may have to take out thirty
one thousand to get twenty five Well, that subjects more
of your money to going down. If all of that
(34:41):
money is tax free and you need twenty five thousand,
you take twenty five, that means you're taking less money.
It gives your money more longevity.
Speaker 2 (34:48):
Well let alone how a big withdrawal can affect your
IRMA penalties for your medicare, what are you paying for
your medicare? Part B absolutely benefits, So there is a
rippling effects. So to me, tax planning as soon as possible,
as as young as possible, is extremely important.
Speaker 1 (35:06):
Mark seven nine to one fifty seven seventy three. If
you'd like to call the team at Pressley Wealth Management
two two five seven nine to one fifty seven seventy three.
And of course you can always go to meet with
us now dot com. I think it's the most important
thing you could do today, probably because we're talking to
the next twenty thirty years of your life. Seven nine
to one fifty seven seventy three or meet with us
now dot com. Headed to our final segment of today's
(35:27):
Your Money Matters with Christy Smith and Matt Kennedy Presley
Wealth Management. We're back bat after This.
Speaker 5 (35:33):
Is the price tag on everything giving you sticker shock,
from groceries to gas. The cost of living is skyrocketing.
But if you think inflation is painful, now just wait
until you retire. Easy impact of inflation, and start planning
now for your retirement. Called Presley Wealth Management at eight
six six three nine oh twelve fifty two. That's eight
(35:55):
six six three, nine oh twelve fifty two.
Speaker 1 (36:00):
Stop for them all.
Speaker 4 (36:01):
Think about this. Do you know how much money in
your four oh one k or ira is actually your money?
Speaker 1 (36:07):
All?
Speaker 4 (36:07):
Will the government take a bigger chunk than you thought?
Remember you still may owe taxes on that money, but
do you have a plan to help make sure you
don't pay more than you should? At Presley Wealth Management,
we believe you deserve to keep more of what you've earned,
which is why we're here to help you navigate the
confusing world of retirement taxes. It's your money, you deserve
to know what's at stake. Right now, taxes are historically low,
(36:30):
but they won't be this low forever. So call us
at seven nine one five seven seven three. That's seven
nine one five seven seven three. Look, you work hard
for your money, will work just as hard to help
you keep it. Pressley Wealth Management seven ninety one five
seven seven three.
Speaker 5 (36:45):
Investment advisory services offer through a wealth management LLC a
registered investment advisor. Investing involves risk. Always consult with the
qualified tax advisor before making any decisions regarding your ROTH conversion,
as there may be additional tax consideration. Christy Smith of
Presley Wealth Management wants to advocate for you making sure
(37:07):
you have the retirement you have always wanted. Call eight
sixty six three nine oh twelve fifty two and make
sure Presley Wealth is the right bit for you. You
won't know until you call eight sixty six three nine
oh twelve fifty two.
Speaker 1 (37:23):
Welcome back to your money matters with Christy Smith and
Matt Kennedy of Presley Wealth Management. They're the team that's
here to help you come up with your smart retirement plan.
Think about it's income, it's about your investments. It's about taxes.
It's about healthcare. It's about legacy planning. What about SoC
scurity it's in the income part. What about Medicare? It's
in the healthcare part. A lot of pressure on you
as a retiree. Our grandparents had those kind of things
(37:44):
taken care of, they had pensions, they had so scurity.
Income is not a problem. A lot of times they
stayed on the healthcare plan at their work. Those things
have all changed. So that's where Christy and Matt and
the team at Presley Wealth come along to help you
figure out where you are. Seven nine one fifty seven
seventy three two two five seven nine one fifty seven
seventy three. There is no constant chat with the team.
Meet with us now dot com is an easy one
(38:04):
to remember, right, Just go there, set up your own
time to have a fifteen twenty minute conversation with him,
and then from there you figure out, hey, should we
meet again? It's meet with usnow dot com. I'm Mark Elliott.
Now you guys are so much younger than I. I'm
sixty five. Holy cow, we're gonna talk scams in this
final segment.
Speaker 4 (38:19):
Scams, Oh lord.
Speaker 1 (38:21):
It is. It is really crazy. You guys know where
I work and we have to do a test every
month and it's on scams, emails, phishing attempts, all those
kind of things, and it's just crazy. I get. I
had a text the other day that I'm like, and
it was I think it was from Discover and it said, hey,
your credit card is now out of date, and I'm like,
(38:41):
what so I didn't respond to the text message at all.
I called Discover and they're like yeah, and I said, oh,
I got a new card. I didn't change the date. Okay,
that was legitimate, but I didn't respond to that. I
went and actually talked to the company, which made sense.
But that's because I'm paranoid about more stuff. I don't
trust all these emails I get, and they're out of control,
and it's all the time. Hey, you've got a package
(39:03):
of sitting here waiting for you. But all you have
to do is call us. And I get so many
of those I get. I bet I get ten a
week that I just deleted delete.
Speaker 4 (39:10):
Well, mom, I'm still waiting. I'm still waiting on that
money from my African prince uncle in Nigeria.
Speaker 1 (39:18):
Sent me a fact.
Speaker 4 (39:20):
I mean, I sent the five thousand dollars, and all
of a sudden, after I sent the money, the facts
has stopped coming. I was getting a fax every week here,
my rich Nigerian uncle wants to give me ten million
wand bat or something.
Speaker 2 (39:30):
You know, we're laughing about that.
Speaker 4 (39:31):
I'm just kidding. I didn't send him five thousand.
Speaker 2 (39:33):
Don't you actually know two people that I would consider
to be very intelligent people that have been scammed in
the last quarter. These scam orders are really good.
Speaker 4 (39:45):
My dad got a phone call his computer was locked.
He was told all he had to do was go
to the bank and make a deposit. He actually went
to the bank and the teller said, uh, brother Willie, No,
I'm not gonna let you do this because it a scam.
Then my dad called me and I said, Dad, never,
I said, can we just disconnect all phones and so
(40:06):
you don't get you guys know what I'm talking about.
I mean, social Security isn't gonna call you until you
you have a long lost relative. It's not gonna happen.
But now it's the fear tactic. Just here locally. Have
you heard about this one, Christy, You get the phone
call that you didn't respond to a bench warrant and
if you just send some money to the Sheriff's department
(40:29):
in Ascension Parish, it'll all be good. No, they don't
call you for that. They send two big old dudes
with guns to your house. They don't call you.
Speaker 2 (40:38):
And now they actually know about their children.
Speaker 4 (40:40):
Oh they know everything.
Speaker 2 (40:42):
They'll know everything about like their family, and so they
really use the scare tactics, they know where.
Speaker 4 (40:47):
You live every yep.
Speaker 1 (40:48):
It is incredible. You think, boy, these scammers are getting
so good, and they're they're adjusting with all the the
uh I guess software that's out there, all the computer stuff,
texting and phones and all that kind of stuff. They
can hack into anything. It seems like, how about if
you put that to legitimate use, you could actually make
some pretty good money in a fair way. I think
because they're incredible. I sixty Minutes did a special on
(41:10):
this and they went to some little island and it
wasn't the Philippines or you know, India or something, but
it was that kind of a place. When they went
in and it was a big building with just hundreds
of people on the phone, and they said, this is
where they're calling and they're setting this up. And when
they get just like your dad met, it's pretty easy
to fall for it. You're like, Wow, that's incredible, that's fantastic.
(41:31):
And now I'm so cynical. I don't buy anything. I
don't believe anything that that I'm reading in those kind
of things a text message, and I think just because
we get older, they start even playing on us more.
But it's not like I think twenty year olds don't
get scammed. I mean, that's still gonna happen too. I suppose,
well it could, but so you can tell it's age based.
Speaker 4 (41:48):
When you're younger, the spam is, hey, your UPS package
is ready, click this link. Well, I don't respond to
too many phone numbers that start with an international area
code of three eight. You know, I'm sorry delete report
as jump.
Speaker 2 (42:01):
But they don't always have the wrong code.
Speaker 4 (42:03):
They don't. A lot of them are getting better, and
they have local numbers. That's number one that is.
Speaker 1 (42:08):
On the phone.
Speaker 4 (42:09):
Yeah, I get it, Oh absolutely, and then number two,
number two. Now it's fear for older people, it's a
fear tactic. It's hey, we're gonna find you. We're going
to call the police and send you to jail. So
it's now they're preying on fear and forgetfulness the two f's,
if you will.
Speaker 1 (42:27):
Is it okay to respond to those and say, come on,
come on, I report junk all the time. Yeah, best
responses had used to I used to just delete everything,
but now I actually do hit the report junk stuff.
Speaker 4 (42:39):
Now there's this new have you heard about this one?
Mark the fake prescription scam. So a lot of people
buy their prescriptions online now and uh, you know, you'll
get get a notice that, hey, you have a special
two month for free offer if you respond to this link. Well,
the link is just getting into your computer so they
can sabotage your data. It's unbelievable. And with AI being
(43:03):
what it is, my daughter showed me an AI this
past weekend where Taylor Swift broke up with Travis Kelcey.
Have you seen this?
Speaker 1 (43:11):
It's unbelievable. I mean, the dealer Swift. The deep fakes
are the newest thing.
Speaker 4 (43:17):
How do we know who to believe anymore? I mean,
is it really Christy Smith and Matt Kennedy sitting here.
Speaker 1 (43:24):
Talking to them? It's crazy.
Speaker 4 (43:27):
I know. The deep fakes are a big, big, huge thing.
Precious metal is another. I'm just going off on the
ones I'm thinking of. Folks, you will get a lot
of calls about how the government is out to seize this,
that or the other, and if you just send us
some money, you will buy you some gold. Now, some
of that may be real. Folks. If you didn't initiate
(43:48):
the contact, don't deal with it. It's that simple. If
you did not initiate the contact. If someone cold called you,
I would be incredibly, incredibly suspetos. Heck, if it's in
the financial services sector, call your advisor or reach out
to us and just to ask, because we get an
updated list of these all the time, and.
Speaker 1 (44:08):
Certainly we see the romance scams where a widow or
widow er, you know, they're now seventies, eighties, and they're
lonely and they're like, yeah, I have great conversations with
somebody for a long time and they're not real. I mean,
it's there's no end to this. Christie.
Speaker 2 (44:21):
We actually had a client that that happened to yep,
and and you know, we could see it, but she couldn't.
Speaker 4 (44:26):
You know.
Speaker 2 (44:27):
Unfortunately, her husband passed away four or five years ago,
and the people get lonely, Mark.
Speaker 1 (44:33):
Christy, I got one. I've been divorced for a couple
of decades now, I suppose, and I got one from
a just a gorgeous fifty something and I'm sixty five
and I'm looking at her going there's no possible way
if she saw me, shere's no way somebody that attracted
that was my deduction there, Christy.
Speaker 4 (44:50):
Wow, easy, Hello, Mark, not buying it. Maybe a fake
psychiatrist needs to call you give you some self confidence.
I'm just kidding. It's scary and watching these people pray
on people my parents' age.
Speaker 1 (45:03):
The spam.
Speaker 4 (45:04):
I looked at my mom's phone the other day and
my mind was blown by the number of scam texts
Now've taught or don't touch it, leave it alone, it's
out of control. Well listen, I'm going to remember it.
By the way for Oh, I am too special place
in hell. But here's the deal. If you didn't originate
the call, do not respond. That's the safest thing. If
(45:25):
it's the cops and they really need you, they'll find you.
They'll not they'll call your family. Don't respond. God bless
you all. Remember we're here to help. Reach out anytime
seven nine to one, five seven seventy three or meet
with us now dot com.
Speaker 3 (45:40):
Presley Wealth Management has a strategic partnership with tax professionals
and attorneys who can provide tax and or legal advice.
Speaker 5 (45:46):
Investment advisory products and services made available through AE Wealth
Management LLC AWM, a registered investment advisor. Insurance products are
offered through the insurance business the Presley Group. Presley Wealth
Management is an investment advisory practice at all first products
and services through AE Wealth Management LLCAWM, a registered investment advisor.
AWM does not offer insurance products. The insurance products offered
(46:09):
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 backed
by the financial strength and claims paying abilities of the
issuing carrier. This radio show is intended for informational purposes only.
(46:32):
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 the
US government or any governmental agency. The information and opinions
contained herein provided by third parties have been obtained from
(46:53):
sources believed to be reliable, but accuracy and completeness cannot
be guaranteed by the Presley Group.
Speaker 2 (46:58):
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