June 27, 2025 • 47 mins
Christy Smith, founder of Presley Wealth Management and Matt Kennedy, investment adviser representative, discuss issues that affect your retirement planning and how you can build a plan to help reduce risk and implement wealth accumulation strategies. Learn more at presleywealthmanagement.com and then, if you would like to have a conversation around your specific situation, set up an appointment online at meetwithusnow.com or by calling (225) 791-5773.
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Episode Transcript
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Speaker 1 (00:00):
When the news is national.
Speaker 2 (00:01):
SOB, security system molatility, global turmoil, interest rates, rough Dane
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 4 (00:20):
In reality, we're always going to have positives and negatives
going on in retirement. And that's where I believe it's
so important that you do have a full pledge retirement plan.
Speaker 2 (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 Elliott alongside Christy Smith,
the founder of Presley Wealth Management, and Matt Kennedy, an
investment advisor representative, a certified a State planner with Presley
Wealth joined the team in late two thousand and eight.
We are glad you are with us today. You can
always find out more by going to the website Presleywealthmanagement
dot com Presleywealthmanagement dot Com. A lot of great information there.
(01:11):
You can find out aboupcoming events, find out more about
Christy Matt and the team. There's just a lot in
from the office new office. Shoot, it's a lot going
on with Christian Matt and the team at Presley Wealth Management.
If you want to talk to him. You got some questions, right?
Can I retire? Do we have enough? Are we going
to be? Okay? It is two two five five two
three sixty three eighty nine. Two two five five two
(01:33):
three sixty three eighty nine, and that is a texting line.
You can call, obviously and talk to somebody, but you
can also just text the word visit and then the
team will get back to you and you set it up. Hey,
I'm kind of busy right now, but i'd I really
need to see Christian Matt and the team. I gotta
figure out where we are on that road to retirement.
Are we good? Are we not good? Do we need
to tweak something? Just text the word visit the two
two five five two three sixty three eighty nine. Two
(01:58):
two five five to two three sixty three eighty nine.
All right, Christy, We're gonna start with one of the challenges, certainly,
and it's been this way. You started the company in
O six. You were in the business before that, of course,
And we're going to talk about your book in the
next couple segments, so we're going to get into all
of the history and all of that. Why would you
write a book? And pretty impressive. It's a great looking book,
(02:18):
it's easy read, a lot of great information there. But
you think about it the since you started, and probably
before that. The biggest concern of retirees is the fear
amount living their money. I don't think that was the
fear for like my grandparents who had pensions and all
of that. But your dad had a pension and things
went a little walky there, so I don't know. I mean,
(02:40):
two thirds of investors in this global Atlantic study don't
I mean, they're worried about their money lasting. And this
was people that were fifty five to seventy five, that
had two hundred and fifty thousand dollars saved to five
million or some crazy number like that, and they were
still concerned about outliving their money. That's still the biggest.
Speaker 4 (02:56):
Fear, absolutely the number one concern. And people come in
to meet with us at the office is do I
have enough money to retire and live on? But with
market volatility, people tend to get they get worried if
they don't have a complete plan. They see their market
accounts going down, they get concerned that they're gonna have
(03:18):
to make adjustments to their income, and they absolutely are
concerned about outliving their money, especially with rising health care costs.
We see a lot of our clients that are living
much longer in retirement. We see people are needing long
term care services now more than ever, and believe it
or not, you know, we typically would look at long
(03:39):
term care services in your no go years, which you
know I always tell clients we have our go go years,
our slogo years, and our no go years. Well, in
your no Goo years, you typically would think you would
spend less money, but in reality, in the no go years,
we spend more than even in our go go because
typically we're doing it for long term care costs which
(04:01):
are not covered under Medicare or private health insurance unless
you have like a long term care policy to pay
for that. So we do see that the number one
concern is outliving their money.
Speaker 1 (04:15):
Now, Matt, that study was actually it was the ages
I was right fifty five to seventy five, but it
was two hundred and fifty thousand dollars to two million saved.
So if you had two to five million, you're not
worried anymore. I guess according to this study, thirty percent
I'm We're worried. But you think about it, as Christy said, healthcare,
long term care, we don't know what's going to happen,
so it's hard to project. You don't know how long
your clients will live. Maybe one hit seventy five, the
(04:36):
other one hits ninety five, maybe they both hit one hundred.
You don't know, and then you throw in kind of
that outlier inflation. So longevity, healthcare, and inflation, those are
three pretty big unknowns you got to plan for.
Speaker 2 (04:47):
They're huge unknowns, and you know, I know Christy will
echo this, but so many of you are asking the
question do we or do I have enough? You see,
what's enough for you may not be nearly enough for
your neighbor. What's enough for your neighbor may not be
nearly enough for you. There's no magic number, Christy. Don't
you love when you see these articles? I'm being facetious.
(05:09):
I see them sometimes in the Wall Street Journal or
Barons magazine, the average America needs one point four million
dollars to retire. Well, if you live in Ethel Louisiana
versus San Diego, California, you just don't need nearly as
much money. The cheapest state in America for a retiree
is West Virginia. I saw this study the other day.
Overall expenses, Mississippi is the second cheapest state. Louisiana is
(05:33):
one of the cheaper states. But if you go to
California or Oregon or some Ver or Washington, then obviously
you need more money. But also what's your lifestyle, right, Christy,
So just because you only have five hundred thousand dollars
doesn't mean you're not going to be okay. And just
because you have one point five million, it doesn't mean
(05:54):
you're going to be okay. Turning that money into reliable income.
That's what we do, and that's what the big concern is.
From that same study you mentioned, mark stability is a
key priority. Sixty five percent of those surveyed. Again we're
talking ages fifty five to seventy five, sixty five percent
(06:15):
prioritize lifetime income over asset accumulation. So it's not necessarily
how big is my nest egg, it's how long will
my nest dig last?
Speaker 1 (06:26):
That's the key. So again, if you'd like to have
a conversation with Christy Matt and the team at Presley Wealth,
just give him a call at two two five five
two three sixty three eighty nine. Two two five five
two three sixty three eighty nine. You can also just
text the word visit if you would like to, and
then the team will get back to and you guys
set up a time to have a fifteen minute conversation
and then you see from there, hey, we should really
(06:46):
come in and sit down and let's talk a little
bit more seriously about this. But you can certainly get
some answers just by having that just text word visit
two two five five two three sixty three eighty nine.
And Christy, I would think when they walk through your
smart program, if you will, your smart retirement process, I
would think that kind of alleviate some of that fear
(07:06):
of outliving our money. I mean, the more we plan
and at least put it down on paper, we kind
of know where we are, we have a better feeling
about the future.
Speaker 4 (07:14):
I would think we absolutely do, and the key to
that is actually having a plan. Mark you would not
believe how many people come into the office. They've actually
already retired. They just are coming in for a second
like a checkup or the biggest thing is they come
in because they want to look at their tax concerns
(07:36):
simply because their current advisor hasn't addressed it with them.
They hear us talking about taxes all the time on
the radio, and a lot of times that's actually why
they call us to come in and meet with us.
Having a complete, holistic plan is, in my opinion, one
of the most important things you can do before retiring.
And the reason for that is because if you have
(07:58):
a complete plan, we've taken the time to look at Okay,
the markets are not always going to be great now.
They were great for a good long time, and if
you retired in the last ten years, you probably did
pretty well. However, there are going to be times where
the markets are not doing great and they're not favorable
(08:19):
and you can get nervous, and getting nervous in retirement
while you're drawing retirement income can be one of the
worst things that can happen, because then you make decisions
based on emotions. You don't want to make decisions on emotions,
want to You want to make decisions based on facts.
So what we do with our smart plan is we
create a income plan. We know where are we going
(08:42):
to draw your retirement income, regardless whether the market is
up or down. And that's part of having a real plan.
Speaker 2 (08:50):
Mark in two thousand and eight, when I came to
work with Christy, I was observing what was happening, Christy,
will let go this. The single biggest concern wasn't just wow,
we've lost you know, thirty five, thirty eight to forty
percent of our portfolio. That was a huge concern. But
that was the biggest concern, right Christy, for people who
were about to retire and thought, well, now have to
work longer. But I remember the real tiers and the
(09:13):
real cleinicx was spent on the people who were drawing
from that asset that had declined so much in value
that the advisor said, you'll be okay if you withdraw
a lot less money every month. Well, that changed their
whole lifestyle. So stability of income is the key, right Christy.
Speaker 4 (09:32):
It absolutely is. You know, some people don't have a
written financial plan, and it makes it very hard to
feel confident about their future in retirement. A written plan
can ensure steady income streams and preserve your lifelong savings
from inflation and rising cost We have a process. It
(09:52):
starts with our Serve model, and I want to help you.
This is what we do every day. Call us and
we can help you create a pendable income stream so
you don't have to rely solely on unpredicted markets. We
can help you understand the biggest risk to your savings,
including inflation, healthcare cost and the lack of predictable income,
(10:16):
and also taxes. We can help you build a safeguard
with your financial future and give you confidence in retirement
in the future. This is what we do. This analysis
is completely free. There's no obligation, but you need to
call now. Call two two five five, two three six,
three eight nine to schedule your complementary retirement income review.
(10:40):
You're just going to text the word visit. After this review,
you're going to know exactly where you stand. You're going
to have a clear plan to help protect your financial future.
This isn't about chasing high risk rewards. It's about making
sure your savings last as long as you do don't wait.
Call two two five five two three six three eight nine.
(11:04):
Two two five five two three six three eight nine,
or you can text that number. Just text the word
visit and we'll get in touch with you to schedule
a complimentary visit.
Speaker 1 (11:16):
Matt. It seems to me this is one of the
crazy things. As Christy said, most people do not have
a written retirement plan. They've not sat down with a
retirement planning team like Presley Wealth Management.
Speaker 2 (11:25):
Why it's because the vast majority of people giving advice
and the vast majority of you receiving advice, think that
your investments are your plan. No, your investments are your investments,
and a lot of advisors like to talk about, well,
you're in this fund and that fund, and that's your investments.
That's a tool. But to build a financial future, you
(11:45):
have to know how the tools will construct the physical
house that lead to the stable, reliable income. Again, if
you'd like to get with us, simply text the word
visit to two two five five two three sixty three
eighty nine. You can also call the number, but it's
two two five five two three six three eight nine.
Text the word visit and that'll give us some information
(12:07):
and we can reach out and set up a time
talk about giving you the confidence in retirement that you
so richly deserve.
Speaker 1 (12:15):
When do we come back, We're gonna give you an
opportunity to get Christy's book. Her first chapter of her
book kind of get a feel for it, but it's
Unlock your Smart Plan, A comprehensive guide to Retirement in
Louisiana by Christy Smith. That's next right here on Your
Money Matters with Christy and Matt back after this.
Speaker 5 (12:33):
Since twenty fifteen, Christy Smith and Presley Wealth Management have
been committed to creating holistic financial plans. We help clients
with income, investment, medical, tax and legacy planning called two
two five, five two three sixty three eighty nine. Or
visit presleywealth dot com to see how they can help
(12:53):
you in retirement.
Speaker 4 (12:56):
With pay us on the news and uncertainty in the markets.
Are you worry that your retirement savings could be at risk? Hi?
This is Christy Smith with Presley Wealth Management. Tariffs, trade wars,
and a shaky stock market have left many retirees asking
what's next for my financial future? If you've been asking
that question, it's time to take action. Comes sit down,
(13:16):
with me and my team so that we can review
your financial plan and help make sure that you're prepared
for the challenges ahead. Just call two two five five
two three six three eight nine for a free visit. Together,
we'll create a strategy to help you preserve what you've
worked so hard to build. Don't wait. Call me Christy
Smith at Presley Wealth Management at two two five five
(13:38):
two three six three eight nine to schedule your visit.
There's no cost to meet, but my calendar is filling
up fast. Called two two five five, two three six
three eight nine.
Speaker 5 (13:49):
Investment advisory services offered through AE Wealth Management LLC, a
registered investment advisor. Textbook to two two five five two
three six three eight nine to get an instant download
of chapter one of Christy Smith's book, Unlock Your Smart Plan.
That's book to two two five five two three sixty
(14:13):
three eighty nine.
Speaker 1 (14:16):
Welcome back to your Money Matters with Christy Smith and
Matt Kennedy of Pressley Wealth Management. I'm Mark Elliott again.
If you would like sit down with the team and
have a conversation, just text the word visit to two
two five five two three sixty three eighty nine. Two
two five five two three sixty three eighty nine. Now
we're going to talk about Christy's brand new book. You
also have the opportunity to just text the word book
(14:38):
to that same number two two five five two three
sixty three eighty nine, and you'll get the first chapter
e download. I don't know. I'm sixty five. I don't
know how that works, some fancy thing through the internet.
You'll get the first chapter of Unlock Your Smart Plan,
A Comprehensive Guide to Retirement in Louisiana by Christy Smith.
Christy Smith, a published author. How do you feel? I mean,
(15:00):
you sign autographs? Are there like red carpet every time
you walk into the office because you're now a big
time writer.
Speaker 4 (15:06):
No, but it does make me smile when a client
asked me while I sign their book for them.
Speaker 1 (15:12):
I gotta like that. I gotta like that. So let's
talk about this though, because this is a pretty cool deal.
It's Unlock your Smart Plan, and that is your process
right the smaart and they all stand for different things.
Sources of income, Medicare and healthcare, advanced retirement planning, the
risk management part of your portfolio, and then of course taxes.
(15:33):
That is a smart plan what made you want to
write the book? And I know you start the book
by explaining your dad situation, who'd retired from Exon in
great shape and things didn't go the way he was hoping.
Speaker 4 (15:46):
Well, you know, everything we do at Presley Wealth Management
really revolves around the story of my dad. And it's
crazy how market conditions, when they become turbulent, bring that
back to the like forefront, you know, because you get
to do in the same thing every day. Market conditions
are favorable, you just sometimes forget, but when things get
(16:09):
a little turbulent, it reminds you. So the wombs have
been pretty fresh lately. You know. For me, it really
revolves around my dad. I mean, my dad was a
guy that worked hard. He worked at Exxon. He was
an operator at Exxon. He retired at fifty eight years old. Mark,
I'm never going to forget the day we had his
(16:29):
retirement party because he was Number one, was so proud
Number two. He couldn't wait to give my mom a
tennis bracelet that he bought for her. You know, he
got the watch, she got a tennis bracelet, and it
was an exciting day for our family because my dad
was such a hard worker. He worked shiftwork, you know,
my entire life. And my mother drove a school bus
(16:53):
typically for the school we went to, and as soon
as the kids graduated from high school, she turned in
her school bus keys because she did not want the
school board pension. She wanted my dad's social Security benefits. So,
you know, for us, that was a really proud moment.
But I got to tell you, my dad was very private.
He didn't talk much about his money. I do remember
(17:15):
him telling us that he had chosen who was going
to invest the money. He was so confident that he
was going to never outlive his money that he went
through the trouble of creating his estate plan. He created
a trust that was going to be left to his grandchildren,
and he was very proud of that. I mean, he
(17:36):
was so proud of that. But other than that, I
didn't really ask him a lot of questions about it
because he didn't really talk about his money to us.
I mean, I grew up in a family where we
just really didn't talk much about it. You know, I'll
never forget the day that I went to see him.
My mother passed away quickly after he retired, and Sunday
(18:00):
was the day we all gathered, we went to his
house in Ethel. My mom and dad built a new
home in Ethel on seven acres. He was so proud.
He wanted to grow a garden. You know, my dad
was from Simsport, Louisiana, so he was from the country
and he wanted to go back to the country. And
when my mom passed away, the biggest concern for me
(18:22):
was I had to make sure and lay eyes on
my dad on a regular basis because I wanted to
make sure he was okay. This one Sunday, after we
ate lunch, we're packing up the kids, you know, I
had three children. We're about to get in the car
to leave, and he says, Christy, can I come see
you at your office tomorrow. I looked at him. I
(18:43):
was like, yeah, I mean he had never done that, Mark,
I mean it was like, okay. I remember getting in
the car and my husband Rick. He looked at me
and he said, do you know what he wants to
come talk to you about. I looked at him, I said,
he's sick. He's sick. He's come and tell me he's sick. Now.
The next day he came into the office and thanked
(19:05):
the lord He wasn't sick, but what he was is scared.
And the reason he was scared is because the market
had literally taken like half of his retirement portfolio away.
And I'll never forget that day when he reached in
his pocket, it was his jacket pocket. He grabbed his
statement out. He pushed it. He didn't like hand it
(19:27):
to me. He slowly pushed it across the table and
he gave it to me and he said, baby, I
need help. And I remember looking at a statement and
the first thing out of my mouth was, Dad, where's
the rest of your money? And he said, Noe, that
is the rest of my money. And that's why I'm here.
And you know, back then, I was literally only in
the insurance industry. You know, I didn't build complete retirement
(19:49):
plans for people. I didn't even understand the importance of it.
But what I did have his friends. And I had
a friend that you know, was had a securities license.
I said it to him, I said, hey, can you
help me with this is for my dad. He called
me and he said, Christy, your dad is ninety percent
invested in stocks. I'm like, what that's his He's retired,
(20:11):
he's living off that. I remember asking my dad about
it and he said, yeah, I was told they were
I was just going to live off the dividends and
not have to worry about it. But you know, when
half of your money's gone, you act emotional, which is
exactly what my dad was doing. And it was a
moment in my life that changed me. I believe had
that moment not happened, I would not be where I'm
(20:35):
at today, because it is truly what drives us at
Presley Wealth Management to do what we do every day.
We since then have evolved where we are, you know,
securities license, We build complete holistic plans, and the Smart
Plan really came from a good friend of mine, David
Brooks in Almaha, Nebraska. He believed that in order to
(20:57):
have a successful retirement you had to have a complete plan,
so he designed the Smart Plan and has graciously allowed
us to use it at Presley Wealth Management.
Speaker 1 (21:09):
If you would like a copy of the first chapter
of Christy's book, Unlock Your Smart Plan, A Comprehensive Guide
to Retirement in Louisiana, all you have to do is
text the word book to two two five five two
three sixty three eighty nine. That's text the word book
to two two five five two three sixty three eighty nine,
and you get the downloadable first chapter of this book.
(21:31):
And you know, Matt, one of the interesting things because
you guys have been doing the smart plan now for
a year two you were doing a version of it before.
He just didn't name it the smart plan. I think,
right say it because it's always been income, investment, taxes, healthcare,
legacy planning. Uh. But putting it this way, does it
make it easier for people to understand? Maybe?
Speaker 2 (21:49):
I think acronyms are wonderful because our acronym SMA RT
is an acronym that simply means s sources of income.
You know the words, do I have enough income to last?
And where's it coming from? Do I take my pension
lump some? Do I take my pension as payments? Do
I take Social Security at sixty two, sixty five, sixty
(22:10):
seven seventy? How do I coordinate my social security? Sources
of income? M is for medical and medicare. A is
for advanced planning, you know, wills, trust, things like that.
R is a big one. Risk management. If you're taking
on too much risk when you first retire and the
market turns sour. We call that a bad sequence of returns.
(22:34):
If that happens, guess what you can get wiped out
right when you retire. Now, if the market's bullish, you'll
be in great shape. So how do we mitigate too
much risk and yet still grow your portfolio? And T
is the big one. Maybe it should be first, Christie,
but it's last because SMA R T is for taxes.
Do you have a plan so that you don't pay
(22:55):
higher and higher and higher taxes the longer you continue
to live? Of most people have been sold to buil
with goods. You've been told all your taxes will always
be lower in retirement, not necessarily. We'll talk more about that, uh,
and Christy talks about that in detail in the book.
If you'd like a copy of the book, or at
least a chapter two two five five, two three sixty
(23:17):
three eighty nine, just all you have to do is
text the word book to two two five five two
three six three eight nine. That's two two five five
two three six three eight nine. And all you have
to do is text the word book.
Speaker 1 (23:34):
So when we come back, we're going to talk more
about Christie's new book, Unlock Your Smart plan a comprehensive
guide to retirement in Louisiana. We're back with more right.
Speaker 4 (23:42):
After this text.
Speaker 5 (23:44):
Visit to two two five five two three sixty three
eighty nine to set up your complimentary meeting with the
Presley Wealth Management team. That's visit to two two five
five two three six three eight nine.
Speaker 2 (24:00):
A quarter twenty five cents. That's hardly anything, right ah,
But at Presley Wealth Management we see quarters a little differently.
A quarter is a lot when it's a quarter.
Speaker 1 (24:10):
Of your retirement savings.
Speaker 2 (24:11):
So do you want to pay twenty five percent or
more in taxes during your retirement? At Presley Wealth we
help create a plan to help you address taxation. If
the only time you think about taxes is when you
file them, you don't have a tax strategy, but it's
not too late to get one. Act now to make
sure you're not paying a quarter, dime, or even a
penny more than you should, call Christy and the team
(24:32):
at Pressley Wealth Management at five two three sixty three
eighty nine. That's two two five five two three six
three eight nine to schedule your personalized tax strategy session.
A quarter saved as a quarter earned so called two
two five five two three sixty three eight nine. That's
two two five five two three sixty three eight nine.
Speaker 5 (24:52):
Investment advisory services offered through AE Wealth Management LLC, a
registered investment advisor firm, may not give tax advice. You
listen to Christy Smith and Matt Kennedy on the radio,
Now go in and talk with them in person. Let
them help you retire with confidence. Two two five five
two three sixty three eight nine, or go online to
(25:15):
Presleywealthmanagement dot com.
Speaker 1 (25:17):
Welcome back to your money matters with Christy Smith and
Met Kennedy of Presley Wealth Management. You can always go
to the website to learn more Presleywealthmanagement dot com. Presleywealthmanagement
dot com. I'm Mark Kelly. Glad you're with us again.
If you'd like to sit down and have a conversation,
we'll just to have a phone conversation, maybe a fifteen
minute call. To start with UH, just text the word
visit to two two five five two three sixty three
(25:38):
eighty nine. That's two two five five two three sixty
three eighty nine. We're talking about Christy's brand new book today,
The Unlock Your Smart Plan, a Comprehensive guide to retirement
in Louisiana, And if you like the copy of the
first chapter, they'll just downloadable first chapter. Let's just send
it right to you. Text the word book to two
two five five two three sixty three eighty nine two
(26:00):
five five three sixty three eighty nine. So there's about
one hundred and thirty pages in this book. It's a
pretty easy read, and I think it's christy. I would
imagine because you've sat now with so many people over
the last almost two decades and talking about retirement, they
kind of know how people maybe kind of take in
this information. Maybe because the book is pretty easy to follow.
(26:22):
I mean, that was probably one of your goals. You
didn't want to get all you know, financial jargon e
in there.
Speaker 4 (26:27):
Well, the thing is for me is that I read
a lot, and I listen to a lot of books,
you know while I'm driving to work. And if something
is just too complicated for me to understand while I'm
just driving, then I'm probably not going to listen to it.
So I did want to make sure that this book
was written in a manner that was going to be
very easy to read. Actually, it's enjoyable. I've had four
or five different people that I've given it to call
(26:49):
me and say, Christy, I love the book, I love
the story in it, I love how you explain it.
I wanted to make it as easy as possible to understand,
and you know, honestly, retirement planning can be that easy
as well. The biggest challenge is helping someone feel confident
to pick up the phone, because once they come in
to meet with us, they're going to see that it's
(27:11):
it's a very smooth, you know, servant mind process. We're
not here to sell anything. What we're here to do
is serve, and if we do our job good enough,
it's there's never going to be a question of are
we going to choose them? It's just not because we're
not going to make someone feel that way. What we
want to do is look to see how we can
make your current plan better. And if you don't have
(27:34):
a plan, how can we create a plan that you
can understand and implement and move forward and have a
confident retirement.
Speaker 1 (27:42):
So, Chris, here's a quick question for you, and we
know that your your book. Longevity, taxes, market volatility, retirement income,
social security four oh one k's iras roth iras annuities
of state and legacy planning strategies, women retire, to pensions,
finding a financial professional. Those are the chapters. So I
played golf with a kind of a rural golf course
(28:04):
a rural town, and it's not a big town, maybe
three to five thousand people, but it's kind of really
neat golf course. But when you drive in, there's like
thirty homes and I'm like, I could never afford one
of these houses. And I made a comment to the
person I was playing with that was from there. I said,
what in the world, how did this little town, how
there's so many people have so much money to buy
houses like that? And they said, well, a lot of
(28:25):
them are farmer's widows, So that women retire too is
one of the things I'm sure you find very important
to talk about. And for your situation, it's kind of
different because it's not usually it's the male passes first.
For your dad, it was your mom. Holy cow, that's
kind of was shocking when you said that. No, there's
a lot of farmers widows that have these nice houses.
Speaker 4 (28:45):
Well, and what we're seeing is that, unfortunately, it is
a proven statistic. Currently women typically outlive men. Now in
my family, it didn't work that way. But for the
most part, what we see as women outlive men. And
you know, I think and guess why it's so important
that women become involved in the retirement planning process. I mean,
(29:05):
you would be surprised how many females don't walk in
the door with their husband on the first visit, and
Matt and I both are going to say, hey, look,
on your next visit, can you make sure and bring
your spouse?
Speaker 2 (29:17):
And sometimes the husband will say, oh, she's not interested
in this. She'll just bring a book and read. I said,
it's okay. But it's funny how the ears perk up
when you start talking about Now, Bob, if something happens
to you, we hope you live a long, happy life.
But if something happens to you, to you say, in
two years, does Sally know she's going to be okay?
Do you have a plan? Well, of course she wants
(29:39):
to take care of her. But just because she's quote
not interested, doesn't mean that she's really not interested. It's
that she's never been spoken to in a way that
makes it make sense. That's what I find.
Speaker 4 (29:50):
Well, and she just doesn't feel empowered to be a
part of the conversation because typically she hasn't been while
her spouse was working and saving, right. You know, I
will say, Mark, that is starting to change some. We're
starting to see where women are becoming more involved in
the planning, and we're seeing where women are actually being
more proactive than men. Men a lot of times will
(30:13):
say unfortunately, I'm gonna pass away when I'm seventy, and
I'm of course, I look at them like mm hmm.
You know, you're probably gonna live a little longer than that.
But the thing is is that I find women are
becoming more involved than that excites me because women typically
are going to live longer. They're typically going to carry
the biggest tax burden when their spouse passes away, and
(30:36):
they've got big rmds they have to deal with now
filing a single tax return versus Mary vial and joint.
They they're concerned with not wanting to leave a financial
burden on their children to have to take care of them.
You know, we see many couples taking care of their
parents right now, and I got to tell you they
(30:56):
don't want to leave that burden on their children because
they're living it. So so women are becoming more involved,
and I think it's a matter of helping them feel
confident that they can and are capable of learning these things.
Speaker 1 (31:14):
So here's the deal. If you would like the first
chapter of the book, we'll send it to you where
it's downloadable, and then you can read the book and
then you can maybe have a conversation with the team
if you have questions about it. Text the word book
to two two five five two three sixty three eighty nine.
I think a lot of people go, well, Matt and Christy,
they're going to probably try to sell me something. And
I don't really understand all of this, so I mean
(31:35):
they might take advantage of me. And that is the
furthest saying from your guys' mind, is selling them anything.
Just like you were talking about the four to one
K and I raising you may have or even reddle income.
None of that is a plan. Now, they're certainly factors
in creating the plan, but those tools are not the plan.
Speaker 2 (31:51):
No, they're not. I kind of think about it like this.
So my dad's a great builder. I mean he's a
retired preacher, but my dad is an amazing builder. He
could build anything. He built the church that we had
out in Erwinville for years, and I asked him one time,
I said, Dad, how are you such a good builder?
I can't draw a stick figure, I can't build anything.
And he said, because I can see the finished product
when the boards are still laying on the ground. He
(32:13):
could look at a pile of two by fours and
two by sixes in sheet rock and he could see
the finished product. That's what God has blessed us with.
So when you bring your four oh one case statements
and your I raise and your lump sum pension and
your pension paperwork to you, it's a major question.
Speaker 1 (32:27):
Is it enough?
Speaker 2 (32:28):
What happens if the market's bad? What happens the wood IFFs?
Right now, we can't prevent some what ifs Christy, people
do get sick, people die early. Things happen, right But
there's an old saying the sailor cannot control the wind,
but the sailor can adjust the sails. And so our
job is to build a planet is to see the
pile of lumbers, see the pile of sheet rock, see
the box of nails, and we can see that. You
(32:50):
need to know where your sources of income are reliable,
steady income, medicare planning, advance planning for wills, trust the states,
the stuff maybe that you have any thought about, or
the stuff that you've been putting off and no one
has held you accountable for doing it. I had someone
tell me that a few weeks ago. They said, good,
I'm glad we're working with you guys, because we've put
(33:10):
off doing a will. Now we've talked about it for
ten years. Promise me that you'll hold us accountable. And
I said, here's the card, call the person and do
it this week. So sometimes it's about being held accountable,
but it's not pressure. I'm not a seller, Christy's not
a seller. April is not a seller. We're teachers. We're
going to teach you what you need to do and
(33:31):
empower you to make the decisions to have the retirement
that you deserve. And if you're already retired and you're thinking,
wait a second, nobody's ever talked to me about taxes
or a state planning, let's talk.
Speaker 1 (33:43):
So again.
Speaker 2 (33:44):
You can just text the word visit to two two
five five two three sixty three eighty nine. You can
also call the number if you want to, but if
you'd like to text visit, text two two five five
two three six y three eight nine. Again text the
word visit or if you'd like to get the first
chapter of Christy's book, you'll get a link. Just text
(34:05):
the word book to that same number five two three
sixty three eight nine.
Speaker 1 (34:09):
It's a great opportunity, I think, to get a feel
for Presley Wealth Management and Christy Smith and Matt Kennedy
and kind of the process, so you're not going to
be maybe overwhelmed. The book walks you through step by
step and talks about all these different areas that you
really need to try to get a handle on before
you get into retirement. Maybe already retired. Great time to
get the book too, have some questions, Just text book
(34:30):
two two five five two three sixty three eighty nine.
Back to wrap it all up right after this, this
is Your Money Matters with Christy Smith and Matt Kennedy
of Presley Wealth Management.
Speaker 5 (34:39):
Text book to two two five five two three six
three eight nine to get an instant download of chapter
one of Christy Smith's book, Unlock Your Smart Plan. That's
book to two two five five two three sixty three
eighty nine.
Speaker 4 (34:58):
With Kaus on the news and uncertain in the markets,
Are you worried that your retirement savings could be at risk. Hi,
this is Christy Smith with Presley Wealth Management. Tariffs, trade wars,
and a shaky stock market have left many retirees asking
what's next for my financial future. If you've been asking
that question, it's time to take action. Come sit down
(35:18):
with me and my team so that we can review
your financial plan and help make sure that you're prepared
for the challenges ahead. Just call two two five five
two three six three eight nine for a free visit. Together,
we'll create a strategy to help you preserve what you've
worked so hard to build. Don't wait. Call me Christy
Smith at Presley Wealth Management at two two five five
(35:40):
two three six three eight nine to schedule your visit.
There's no cost to meet, but my calendar is filling
up fast. Called two two five five two three six
three eight nine.
Speaker 5 (35:51):
Investment Advisory services offered through AE Wealth Management LLC, a
registered investment advisor.
Speaker 2 (36:00):
X.
Speaker 4 (36:00):
Visit to two two.
Speaker 5 (36:01):
Five five two three sixty three eighty nine to set
up your complimentary meeting with the Presley Wealth Management team.
That's visit to two two five five two three sixty
three eight nine.
Speaker 1 (36:16):
Welcome back. To your money matters with Christy Smith and
Mett Kennedy at Presley Wealth Management. You can always learn
more and find out about upcoming events Pressleywealthmanagement dot com
if you'd like to talk with them, though you're not
really sure where you were on that roatary timement. I
think I've got enough. I hope I've got enough, but
I don't really know perfect time to chat with the team.
There's no cost for this, there's no obligation. It is
two two five five two three sixty three eighty nine.
(36:39):
Two two five five two three sixty three eighty nine.
We're gonna do a little combination here, a little mailbag
segment with something fast things Joe. It's we've never done
it before, so we're kind of looking forward to see
how this all plays out. All right, first question, Christy,
I'll give you this. What could be the impact on
my pension if I decide to retire early.
Speaker 4 (37:01):
Well, the first impact was that you would likely receive
less money because you're working for a shorter time period.
The next thing you want to consider is are you
going to take a lump sum pension or are you
going to take the pension payments? If you retire early
at a young age. Maybe taking the pension payments would
be the better option because you would have a higher
(37:22):
guaranteed amount of income. But then you have to consider well,
because most children never get a pension payment. If if
husband and wife pass away in a car accident, it's
going children don't receive the money. So, you know, how
do I offset to leave my children the money that
I've that I've worked hard and saved far and still
be able to take the pension payment? You know, so
(37:44):
retiring early can your pension can be affected by a
lot of different things. The interest rate environment when you retire.
You know that affects your pension payment.
Speaker 1 (37:53):
All right, Christy, how here's another question for you. How
do I calculate for inflation when trying to figure out
if I have saved enough?
Speaker 4 (38:01):
Well, when I calculate for inflation, you know, with my
client's retirement planning, I always calculate a higher than average
level of inflation to their expenses, meaning I'm going to
make it look like their expense goes up by a
certain percentage. I you know, we can look at even
like a five percent inflation cost to expenses just to
(38:24):
see what the long term outlook would be Now, last year,
the argument would be inflation was, you know, more than that,
but on average over the last thirty years that it
wasn't higher. So we just want to make sure that
in our plan we're building an automatic inflation. That is,
that's like a rate of return that that's going to
be added to the actual expenses each year. You'd be
(38:46):
quite surprised. Mark over a thirty year period, we would
expect that our clients need, meaning their expense need, the
money they're going to need to live on is actually
going to be double what it is when they retire.
Speaker 1 (38:59):
Yeah, thats amazing when you look at that, and that's
kind of why they always say, what the compound interest
is the eighth wonder of the world. That's kind of
that same kind of thing, but in reverse when it
comes to inflation. All right, Matt, final question before our
lightning round. When when should most people start planning for retirement.
We'd love to do it once we start our first job,
but most people don't think they're ever going to get
(39:20):
to that age. When you're twenty, can't think of being sixty.
So when when's the right time to start planning for retirement?
Speaker 2 (39:26):
So once upon a time before the Wroth four oh
one K was a thing, we would always say, well,
start planning around fifty right nowadays, when you get your
first job, if you have the option for WROTH four
oh one K, it's probably very important that you consider
adding some money to that to help hedge the taxes
later in life. But certainly if you plan to retire
(39:49):
at the standard age of say sixty two, I believe
when you're fifty, Christy you may have a different opinion,
but certainly by the time you're fifty you better start
looking long and hard and fast at have if I
saved enough? Am I saving in the right places? Am
I being tax efficient? And what things have I not
thought about? Certainly, twelve years before you retire you really
(40:09):
have to begin formulating a plan. And the five years
before you retire, that's a real critical zone. That five
year period before you retire and the five year period
after you retire you have to be very cognizant of
stock market risk and so that's a real critical zone
where you have to have a very nailed down plan.
Speaker 4 (40:30):
And I always like to recommend that the year before
you retire actually test drive your retirement, like you don't
buy a car before you test drive it, right, live
the year before you retire the way you're going to
live in retirement.
Speaker 1 (40:47):
I like that. So again, if you'd like to chat
with the team at Presley Wealth Management, it is two
two five five two three sixty three eighty nine. Two
two five five two three sixty three eighty nine. An
easy one to remember, I think is just meet with
usnow dot com. Set up your own fifteen minute conversation
with the Presley Wealth Management team. All right, we're gonna
(41:08):
do something we've never done before. This is a little
lightning round and it's really about you too, individually, and
so I'm just gonna throw out a topic. I just
want a quick answer. We'll see how many we can
get to in like two minutes. Okay, So Christy, here's
the deal. For example, it's gonna be what's on your
bucket list? Christy? You go first, Matt, You give me yours,
and then we'll just go through and see how many
(41:28):
we can get through. All right, You good with that?
Speaker 4 (41:31):
Okay?
Speaker 1 (41:32):
All right? So Christy first, Matt, then the same thing,
same question, and give me an answer. All right, what's
on your bucket list? Christy?
Speaker 4 (41:39):
Well, my bucket list is Number one is to see
Presley right at the National Finals Rodeo in Vegas, Germany.
Speaker 1 (41:48):
Germany.
Speaker 2 (41:48):
I want to see Germany.
Speaker 1 (41:49):
Okay, what's your biggest what is your biggest pet? Peeve?
Speaker 4 (41:55):
Putting the roll of toilet paper on the holder wrong?
Speaker 2 (42:00):
So which way is right?
Speaker 4 (42:02):
Well? Up, you put it to where the when you're
the role comes up, it goes down in the front,
in the front, you got it?
Speaker 1 (42:12):
Not underneath?
Speaker 4 (42:13):
Like it when I go not underneath. That is my
biggest pet pee.
Speaker 2 (42:19):
Mine is people who order it to drive through at
a fast food restaurant. Pull up eight feet and start
taking the stuff out. Get out of the way. Move Okay,
we're done.
Speaker 1 (42:26):
All right. Favorite comfort food Christy.
Speaker 4 (42:30):
I'd say ice cream, chicken pot pie.
Speaker 1 (42:33):
Okay. Favorite athlete of all time Christy.
Speaker 2 (42:38):
Joe Burrow, Michael Jordan, all right. Favorite book The Bible
Where the Red Fern Grows.
Speaker 1 (42:46):
The movie you will watch over and over again.
Speaker 2 (42:50):
The notebook Chariots a Fire.
Speaker 1 (42:53):
Okay, mine would be Maverick. All right. Holiday, you look
forward to Holiday, You look forward to the most christy.
Speaker 4 (43:04):
Thanksgiving, Christmas.
Speaker 1 (43:06):
The earliest financial lesson you each have learned.
Speaker 2 (43:10):
Oh, that's good.
Speaker 4 (43:14):
That was when I was like seven years old and
my mom paid me a penny for every gumball I
picked up in the yard from the gumball tree, and
then she made me pay for my candy bar at
the store. I realized it takes a lot to get
what you want.
Speaker 2 (43:30):
Earliest financial lesson I actually, Oh, my lord, I'm afraid
to confess this. I guess the statute of limitations has
run out. I was maybe six years old and I
stole a piece of bubble gum from Horner's Grocery on
Section Road in Erwinville, and my dad made me go
back inside, apologized, went home, got us spanking, and had
(43:51):
to work helping him to earn enough money to pay
back the piece of gum. Of course, it was five cents,
but my dad made.
Speaker 4 (43:59):
Me work for a dollar, kind of like me picking
those gumballs up exactly.
Speaker 1 (44:02):
But I was in trouble.
Speaker 2 (44:03):
So that's my earliest financial lesson.
Speaker 1 (44:05):
Okay, there's our quick lightning round. I'll you guys, I
get thirty seconds. I'll let you wrap up today's show.
So listen.
Speaker 2 (44:11):
Uh, life is all about our experiences, and if you're
planning to retire or if you're already retired, we offer
just to sit down conversation. That's really what it is.
You know our goal is, and to shove a pen
in your hand and have you sign a piece of
paper and say be our client. Our goal is to
help you retire, live a great retirement, and to leave
(44:34):
a legacy for your children and grandchildren. We help, and
it all starts with a phone call. So reach out
to is it two two five five two three sixty
three eighty nine, text visit two two five five two
three six y three eight nine, and we'll be happy
to spend fifteen twenty minutes on the phone just getting
(44:54):
to know your current situation, whether you're planning for retirement
or already retired, and we sit down face to face
and build you a retirement plan that can last and
leave a legacy. So reach out to is A seven
nine one five seven seven three.
Speaker 5 (45:13):
Christy Smith's mission at Presley Wealth Management stems from her
father's experience of losing fifty percent of his retirement portfolio
from bad financial advice. Get your second opinion by calling
two two five five two three six three eight nine.
That's two two five five two three sixty three point
(45:34):
eighty nine.
Speaker 3 (45:41):
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 as it offers 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 Presley Group are not subject to investment advisor requirements.
AWM and the Presley 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
(46:53):
obtained from sources believed to be reliable, but accuracy and
completeness cannot be guaranteed by the Presley Group.
Speaker 4 (46:58):
This radio show is a paid placement
When the news is national.
Speaker 2 (00:01):
SOB, security system molatility, global turmoil, interest rates, rough Dane
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 4 (00:20):
In reality, we're always going to have positives and negatives
going on in retirement. And that's where I believe it's
so important that you do have a full pledge retirement plan.
Speaker 2 (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 Elliott alongside Christy Smith,
the founder of Presley Wealth Management, and Matt Kennedy, an
investment advisor representative, a certified a State planner with Presley
Wealth joined the team in late two thousand and eight.
We are glad you are with us today. You can
always find out more by going to the website Presleywealthmanagement
dot com Presleywealthmanagement dot Com. A lot of great information there.
(01:11):
You can find out aboupcoming events, find out more about
Christy Matt and the team. There's just a lot in
from the office new office. Shoot, it's a lot going
on with Christian Matt and the team at Presley Wealth Management.
If you want to talk to him. You got some questions, right?
Can I retire? Do we have enough? Are we going
to be? Okay? It is two two five five two
three sixty three eighty nine. Two two five five two
(01:33):
three sixty three eighty nine, and that is a texting line.
You can call, obviously and talk to somebody, but you
can also just text the word visit and then the
team will get back to you and you set it up. Hey,
I'm kind of busy right now, but i'd I really
need to see Christian Matt and the team. I gotta
figure out where we are on that road to retirement.
Are we good? Are we not good? Do we need
to tweak something? Just text the word visit the two
two five five two three sixty three eighty nine. Two
(01:58):
two five five to two three sixty three eighty nine.
All right, Christy, We're gonna start with one of the challenges, certainly,
and it's been this way. You started the company in
O six. You were in the business before that, of course,
And we're going to talk about your book in the
next couple segments, so we're going to get into all
of the history and all of that. Why would you
write a book? And pretty impressive. It's a great looking book,
(02:18):
it's easy read, a lot of great information there. But
you think about it the since you started, and probably
before that. The biggest concern of retirees is the fear
amount living their money. I don't think that was the
fear for like my grandparents who had pensions and all
of that. But your dad had a pension and things
went a little walky there, so I don't know. I mean,
(02:40):
two thirds of investors in this global Atlantic study don't
I mean, they're worried about their money lasting. And this
was people that were fifty five to seventy five, that
had two hundred and fifty thousand dollars saved to five
million or some crazy number like that, and they were
still concerned about outliving their money. That's still the biggest.
Speaker 4 (02:56):
Fear, absolutely the number one concern. And people come in
to meet with us at the office is do I
have enough money to retire and live on? But with
market volatility, people tend to get they get worried if
they don't have a complete plan. They see their market
accounts going down, they get concerned that they're gonna have
(03:18):
to make adjustments to their income, and they absolutely are
concerned about outliving their money, especially with rising health care costs.
We see a lot of our clients that are living
much longer in retirement. We see people are needing long
term care services now more than ever, and believe it
or not, you know, we typically would look at long
(03:39):
term care services in your no go years, which you
know I always tell clients we have our go go years,
our slogo years, and our no go years. Well, in
your no Goo years, you typically would think you would
spend less money, but in reality, in the no go years,
we spend more than even in our go go because
typically we're doing it for long term care costs which
(04:01):
are not covered under Medicare or private health insurance unless
you have like a long term care policy to pay
for that. So we do see that the number one
concern is outliving their money.
Speaker 1 (04:15):
Now, Matt, that study was actually it was the ages
I was right fifty five to seventy five, but it
was two hundred and fifty thousand dollars to two million saved.
So if you had two to five million, you're not
worried anymore. I guess according to this study, thirty percent
I'm We're worried. But you think about it, as Christy said, healthcare,
long term care, we don't know what's going to happen,
so it's hard to project. You don't know how long
your clients will live. Maybe one hit seventy five, the
(04:36):
other one hits ninety five, maybe they both hit one hundred.
You don't know, and then you throw in kind of
that outlier inflation. So longevity, healthcare, and inflation, those are
three pretty big unknowns you got to plan for.
Speaker 2 (04:47):
They're huge unknowns, and you know, I know Christy will
echo this, but so many of you are asking the
question do we or do I have enough? You see,
what's enough for you may not be nearly enough for
your neighbor. What's enough for your neighbor may not be
nearly enough for you. There's no magic number, Christy. Don't
you love when you see these articles? I'm being facetious.
(05:09):
I see them sometimes in the Wall Street Journal or
Barons magazine, the average America needs one point four million
dollars to retire. Well, if you live in Ethel Louisiana
versus San Diego, California, you just don't need nearly as
much money. The cheapest state in America for a retiree
is West Virginia. I saw this study the other day.
Overall expenses, Mississippi is the second cheapest state. Louisiana is
(05:33):
one of the cheaper states. But if you go to
California or Oregon or some Ver or Washington, then obviously
you need more money. But also what's your lifestyle, right, Christy,
So just because you only have five hundred thousand dollars
doesn't mean you're not going to be okay. And just
because you have one point five million, it doesn't mean
(05:54):
you're going to be okay. Turning that money into reliable income.
That's what we do, and that's what the big concern is.
From that same study you mentioned, mark stability is a
key priority. Sixty five percent of those surveyed. Again we're
talking ages fifty five to seventy five, sixty five percent
(06:15):
prioritize lifetime income over asset accumulation. So it's not necessarily
how big is my nest egg, it's how long will
my nest dig last?
Speaker 1 (06:26):
That's the key. So again, if you'd like to have
a conversation with Christy Matt and the team at Presley Wealth,
just give him a call at two two five five
two three sixty three eighty nine. Two two five five
two three sixty three eighty nine. You can also just
text the word visit if you would like to, and
then the team will get back to and you guys
set up a time to have a fifteen minute conversation
and then you see from there, hey, we should really
(06:46):
come in and sit down and let's talk a little
bit more seriously about this. But you can certainly get
some answers just by having that just text word visit
two two five five two three sixty three eighty nine.
And Christy, I would think when they walk through your
smart program, if you will, your smart retirement process, I
would think that kind of alleviate some of that fear
(07:06):
of outliving our money. I mean, the more we plan
and at least put it down on paper, we kind
of know where we are, we have a better feeling
about the future.
Speaker 4 (07:14):
I would think we absolutely do, and the key to
that is actually having a plan. Mark you would not
believe how many people come into the office. They've actually
already retired. They just are coming in for a second
like a checkup or the biggest thing is they come
in because they want to look at their tax concerns
(07:36):
simply because their current advisor hasn't addressed it with them.
They hear us talking about taxes all the time on
the radio, and a lot of times that's actually why
they call us to come in and meet with us.
Having a complete, holistic plan is, in my opinion, one
of the most important things you can do before retiring.
And the reason for that is because if you have
(07:58):
a complete plan, we've taken the time to look at Okay,
the markets are not always going to be great now.
They were great for a good long time, and if
you retired in the last ten years, you probably did
pretty well. However, there are going to be times where
the markets are not doing great and they're not favorable
(08:19):
and you can get nervous, and getting nervous in retirement
while you're drawing retirement income can be one of the
worst things that can happen, because then you make decisions
based on emotions. You don't want to make decisions on emotions,
want to You want to make decisions based on facts.
So what we do with our smart plan is we
create a income plan. We know where are we going
(08:42):
to draw your retirement income, regardless whether the market is
up or down. And that's part of having a real plan.
Speaker 2 (08:50):
Mark in two thousand and eight, when I came to
work with Christy, I was observing what was happening, Christy,
will let go this. The single biggest concern wasn't just wow,
we've lost you know, thirty five, thirty eight to forty
percent of our portfolio. That was a huge concern. But
that was the biggest concern, right Christy, for people who
were about to retire and thought, well, now have to
work longer. But I remember the real tiers and the
(09:13):
real cleinicx was spent on the people who were drawing
from that asset that had declined so much in value
that the advisor said, you'll be okay if you withdraw
a lot less money every month. Well, that changed their
whole lifestyle. So stability of income is the key, right Christy.
Speaker 4 (09:32):
It absolutely is. You know, some people don't have a
written financial plan, and it makes it very hard to
feel confident about their future in retirement. A written plan
can ensure steady income streams and preserve your lifelong savings
from inflation and rising cost We have a process. It
(09:52):
starts with our Serve model, and I want to help you.
This is what we do every day. Call us and
we can help you create a pendable income stream so
you don't have to rely solely on unpredicted markets. We
can help you understand the biggest risk to your savings,
including inflation, healthcare cost and the lack of predictable income,
(10:16):
and also taxes. We can help you build a safeguard
with your financial future and give you confidence in retirement
in the future. This is what we do. This analysis
is completely free. There's no obligation, but you need to
call now. Call two two five five, two three six,
three eight nine to schedule your complementary retirement income review.
(10:40):
You're just going to text the word visit. After this review,
you're going to know exactly where you stand. You're going
to have a clear plan to help protect your financial future.
This isn't about chasing high risk rewards. It's about making
sure your savings last as long as you do don't wait.
Call two two five five two three six three eight nine.
(11:04):
Two two five five two three six three eight nine,
or you can text that number. Just text the word
visit and we'll get in touch with you to schedule
a complimentary visit.
Speaker 1 (11:16):
Matt. It seems to me this is one of the
crazy things. As Christy said, most people do not have
a written retirement plan. They've not sat down with a
retirement planning team like Presley Wealth Management.
Speaker 2 (11:25):
Why it's because the vast majority of people giving advice
and the vast majority of you receiving advice, think that
your investments are your plan. No, your investments are your investments,
and a lot of advisors like to talk about, well,
you're in this fund and that fund, and that's your investments.
That's a tool. But to build a financial future, you
(11:45):
have to know how the tools will construct the physical
house that lead to the stable, reliable income. Again, if
you'd like to get with us, simply text the word
visit to two two five five two three sixty three
eighty nine. You can also call the number, but it's
two two five five two three six three eight nine.
Text the word visit and that'll give us some information
(12:07):
and we can reach out and set up a time
talk about giving you the confidence in retirement that you
so richly deserve.
Speaker 1 (12:15):
When do we come back, We're gonna give you an
opportunity to get Christy's book. Her first chapter of her
book kind of get a feel for it, but it's
Unlock your Smart Plan, A comprehensive guide to Retirement in
Louisiana by Christy Smith. That's next right here on Your
Money Matters with Christy and Matt back after this.
Speaker 5 (12:33):
Since twenty fifteen, Christy Smith and Presley Wealth Management have
been committed to creating holistic financial plans. We help clients
with income, investment, medical, tax and legacy planning called two
two five, five two three sixty three eighty nine. Or
visit presleywealth dot com to see how they can help
(12:53):
you in retirement.
Speaker 4 (12:56):
With pay us on the news and uncertainty in the markets.
Are you worry that your retirement savings could be at risk? Hi?
This is Christy Smith with Presley Wealth Management. Tariffs, trade wars,
and a shaky stock market have left many retirees asking
what's next for my financial future? If you've been asking
that question, it's time to take action. Comes sit down,
(13:16):
with me and my team so that we can review
your financial plan and help make sure that you're prepared
for the challenges ahead. Just call two two five five
two three six three eight nine for a free visit. Together,
we'll create a strategy to help you preserve what you've
worked so hard to build. Don't wait. Call me Christy
Smith at Presley Wealth Management at two two five five
(13:38):
two three six three eight nine to schedule your visit.
There's no cost to meet, but my calendar is filling
up fast. Called two two five five, two three six
three eight nine.
Speaker 5 (13:49):
Investment advisory services offered through AE Wealth Management LLC, a
registered investment advisor. Textbook to two two five five two
three six three eight nine to get an instant download
of chapter one of Christy Smith's book, Unlock Your Smart Plan.
That's book to two two five five two three sixty
(14:13):
three eighty nine.
Speaker 1 (14:16):
Welcome back to your Money Matters with Christy Smith and
Matt Kennedy of Pressley Wealth Management. I'm Mark Elliott again.
If you would like sit down with the team and
have a conversation, just text the word visit to two
two five five two three sixty three eighty nine. Two
two five five two three sixty three eighty nine. Now
we're going to talk about Christy's brand new book. You
also have the opportunity to just text the word book
(14:38):
to that same number two two five five two three
sixty three eighty nine, and you'll get the first chapter
e download. I don't know. I'm sixty five. I don't
know how that works, some fancy thing through the internet.
You'll get the first chapter of Unlock Your Smart Plan,
A Comprehensive Guide to Retirement in Louisiana by Christy Smith.
Christy Smith, a published author. How do you feel? I mean,
(15:00):
you sign autographs? Are there like red carpet every time
you walk into the office because you're now a big
time writer.
Speaker 4 (15:06):
No, but it does make me smile when a client
asked me while I sign their book for them.
Speaker 1 (15:12):
I gotta like that. I gotta like that. So let's
talk about this though, because this is a pretty cool deal.
It's Unlock your Smart Plan, and that is your process
right the smaart and they all stand for different things.
Sources of income, Medicare and healthcare, advanced retirement planning, the
risk management part of your portfolio, and then of course taxes.
(15:33):
That is a smart plan what made you want to
write the book? And I know you start the book
by explaining your dad situation, who'd retired from Exon in
great shape and things didn't go the way he was hoping.
Speaker 4 (15:46):
Well, you know, everything we do at Presley Wealth Management
really revolves around the story of my dad. And it's
crazy how market conditions, when they become turbulent, bring that
back to the like forefront, you know, because you get
to do in the same thing every day. Market conditions
are favorable, you just sometimes forget, but when things get
(16:09):
a little turbulent, it reminds you. So the wombs have
been pretty fresh lately. You know. For me, it really
revolves around my dad. I mean, my dad was a
guy that worked hard. He worked at Exxon. He was
an operator at Exxon. He retired at fifty eight years old. Mark,
I'm never going to forget the day we had his
(16:29):
retirement party because he was Number one, was so proud
Number two. He couldn't wait to give my mom a
tennis bracelet that he bought for her. You know, he
got the watch, she got a tennis bracelet, and it
was an exciting day for our family because my dad
was such a hard worker. He worked shiftwork, you know,
my entire life. And my mother drove a school bus
(16:53):
typically for the school we went to, and as soon
as the kids graduated from high school, she turned in
her school bus keys because she did not want the
school board pension. She wanted my dad's social Security benefits. So,
you know, for us, that was a really proud moment.
But I got to tell you, my dad was very private.
He didn't talk much about his money. I do remember
(17:15):
him telling us that he had chosen who was going
to invest the money. He was so confident that he
was going to never outlive his money that he went
through the trouble of creating his estate plan. He created
a trust that was going to be left to his grandchildren,
and he was very proud of that. I mean, he
(17:36):
was so proud of that. But other than that, I
didn't really ask him a lot of questions about it
because he didn't really talk about his money to us.
I mean, I grew up in a family where we
just really didn't talk much about it. You know, I'll
never forget the day that I went to see him.
My mother passed away quickly after he retired, and Sunday
(18:00):
was the day we all gathered, we went to his
house in Ethel. My mom and dad built a new
home in Ethel on seven acres. He was so proud.
He wanted to grow a garden. You know, my dad
was from Simsport, Louisiana, so he was from the country
and he wanted to go back to the country. And
when my mom passed away, the biggest concern for me
(18:22):
was I had to make sure and lay eyes on
my dad on a regular basis because I wanted to
make sure he was okay. This one Sunday, after we
ate lunch, we're packing up the kids, you know, I
had three children. We're about to get in the car
to leave, and he says, Christy, can I come see
you at your office tomorrow. I looked at him. I
(18:43):
was like, yeah, I mean he had never done that, Mark,
I mean it was like, okay. I remember getting in
the car and my husband Rick. He looked at me
and he said, do you know what he wants to
come talk to you about. I looked at him, I said,
he's sick. He's sick. He's come and tell me he's sick. Now.
The next day he came into the office and thanked
(19:05):
the lord He wasn't sick, but what he was is scared.
And the reason he was scared is because the market
had literally taken like half of his retirement portfolio away.
And I'll never forget that day when he reached in
his pocket, it was his jacket pocket. He grabbed his
statement out. He pushed it. He didn't like hand it
(19:27):
to me. He slowly pushed it across the table and
he gave it to me and he said, baby, I
need help. And I remember looking at a statement and
the first thing out of my mouth was, Dad, where's
the rest of your money? And he said, Noe, that
is the rest of my money. And that's why I'm here.
And you know, back then, I was literally only in
the insurance industry. You know, I didn't build complete retirement
(19:49):
plans for people. I didn't even understand the importance of it.
But what I did have his friends. And I had
a friend that you know, was had a securities license.
I said it to him, I said, hey, can you
help me with this is for my dad. He called
me and he said, Christy, your dad is ninety percent
invested in stocks. I'm like, what that's his He's retired,
(20:11):
he's living off that. I remember asking my dad about
it and he said, yeah, I was told they were
I was just going to live off the dividends and
not have to worry about it. But you know, when
half of your money's gone, you act emotional, which is
exactly what my dad was doing. And it was a
moment in my life that changed me. I believe had
that moment not happened, I would not be where I'm
(20:35):
at today, because it is truly what drives us at
Presley Wealth Management to do what we do every day.
We since then have evolved where we are, you know,
securities license, We build complete holistic plans, and the Smart
Plan really came from a good friend of mine, David
Brooks in Almaha, Nebraska. He believed that in order to
(20:57):
have a successful retirement you had to have a complete plan,
so he designed the Smart Plan and has graciously allowed
us to use it at Presley Wealth Management.
Speaker 1 (21:09):
If you would like a copy of the first chapter
of Christy's book, Unlock Your Smart Plan, A Comprehensive Guide
to Retirement in Louisiana, all you have to do is
text the word book to two two five five two
three sixty three eighty nine. That's text the word book
to two two five five two three sixty three eighty nine,
and you get the downloadable first chapter of this book.
(21:31):
And you know, Matt, one of the interesting things because
you guys have been doing the smart plan now for
a year two you were doing a version of it before.
He just didn't name it the smart plan. I think,
right say it because it's always been income, investment, taxes, healthcare,
legacy planning. Uh. But putting it this way, does it
make it easier for people to understand? Maybe?
Speaker 2 (21:49):
I think acronyms are wonderful because our acronym SMA RT
is an acronym that simply means s sources of income.
You know the words, do I have enough income to last?
And where's it coming from? Do I take my pension
lump some? Do I take my pension as payments? Do
I take Social Security at sixty two, sixty five, sixty
(22:10):
seven seventy? How do I coordinate my social security? Sources
of income? M is for medical and medicare. A is
for advanced planning, you know, wills, trust, things like that.
R is a big one. Risk management. If you're taking
on too much risk when you first retire and the
market turns sour. We call that a bad sequence of returns.
(22:34):
If that happens, guess what you can get wiped out
right when you retire. Now, if the market's bullish, you'll
be in great shape. So how do we mitigate too
much risk and yet still grow your portfolio? And T
is the big one. Maybe it should be first, Christie,
but it's last because SMA R T is for taxes.
Do you have a plan so that you don't pay
(22:55):
higher and higher and higher taxes the longer you continue
to live? Of most people have been sold to buil
with goods. You've been told all your taxes will always
be lower in retirement, not necessarily. We'll talk more about that, uh,
and Christy talks about that in detail in the book.
If you'd like a copy of the book, or at
least a chapter two two five five, two three sixty
(23:17):
three eighty nine, just all you have to do is
text the word book to two two five five two
three six three eight nine. That's two two five five
two three six three eight nine. And all you have
to do is text the word book.
Speaker 1 (23:34):
So when we come back, we're going to talk more
about Christie's new book, Unlock Your Smart plan a comprehensive
guide to retirement in Louisiana. We're back with more right.
Speaker 4 (23:42):
After this text.
Speaker 5 (23:44):
Visit to two two five five two three sixty three
eighty nine to set up your complimentary meeting with the
Presley Wealth Management team. That's visit to two two five
five two three six three eight nine.
Speaker 2 (24:00):
A quarter twenty five cents. That's hardly anything, right ah,
But at Presley Wealth Management we see quarters a little differently.
A quarter is a lot when it's a quarter.
Speaker 1 (24:10):
Of your retirement savings.
Speaker 2 (24:11):
So do you want to pay twenty five percent or
more in taxes during your retirement? At Presley Wealth we
help create a plan to help you address taxation. If
the only time you think about taxes is when you
file them, you don't have a tax strategy, but it's
not too late to get one. Act now to make
sure you're not paying a quarter, dime, or even a
penny more than you should, call Christy and the team
(24:32):
at Pressley Wealth Management at five two three sixty three
eighty nine. That's two two five five two three six
three eight nine to schedule your personalized tax strategy session.
A quarter saved as a quarter earned so called two
two five five two three sixty three eight nine. That's
two two five five two three sixty three eight nine.
Speaker 5 (24:52):
Investment advisory services offered through AE Wealth Management LLC, a
registered investment advisor firm, may not give tax advice. You
listen to Christy Smith and Matt Kennedy on the radio,
Now go in and talk with them in person. Let
them help you retire with confidence. Two two five five
two three sixty three eight nine, or go online to
(25:15):
Presleywealthmanagement dot com.
Speaker 1 (25:17):
Welcome back to your money matters with Christy Smith and
Met Kennedy of Presley Wealth Management. You can always go
to the website to learn more Presleywealthmanagement dot com. Presleywealthmanagement
dot com. I'm Mark Kelly. Glad you're with us again.
If you'd like to sit down and have a conversation,
we'll just to have a phone conversation, maybe a fifteen
minute call. To start with UH, just text the word
visit to two two five five two three sixty three
(25:38):
eighty nine. That's two two five five two three sixty
three eighty nine. We're talking about Christy's brand new book today,
The Unlock Your Smart Plan, a Comprehensive guide to retirement
in Louisiana, And if you like the copy of the
first chapter, they'll just downloadable first chapter. Let's just send
it right to you. Text the word book to two
two five five two three sixty three eighty nine two
(26:00):
five five three sixty three eighty nine. So there's about
one hundred and thirty pages in this book. It's a
pretty easy read, and I think it's christy. I would
imagine because you've sat now with so many people over
the last almost two decades and talking about retirement, they
kind of know how people maybe kind of take in
this information. Maybe because the book is pretty easy to follow.
(26:22):
I mean, that was probably one of your goals. You
didn't want to get all you know, financial jargon e
in there.
Speaker 4 (26:27):
Well, the thing is for me is that I read
a lot, and I listen to a lot of books,
you know while I'm driving to work. And if something
is just too complicated for me to understand while I'm
just driving, then I'm probably not going to listen to it.
So I did want to make sure that this book
was written in a manner that was going to be
very easy to read. Actually, it's enjoyable. I've had four
or five different people that I've given it to call
(26:49):
me and say, Christy, I love the book, I love
the story in it, I love how you explain it.
I wanted to make it as easy as possible to understand,
and you know, honestly, retirement planning can be that easy
as well. The biggest challenge is helping someone feel confident
to pick up the phone, because once they come in
to meet with us, they're going to see that it's
(27:11):
it's a very smooth, you know, servant mind process. We're
not here to sell anything. What we're here to do
is serve, and if we do our job good enough,
it's there's never going to be a question of are
we going to choose them? It's just not because we're
not going to make someone feel that way. What we
want to do is look to see how we can
make your current plan better. And if you don't have
(27:34):
a plan, how can we create a plan that you
can understand and implement and move forward and have a
confident retirement.
Speaker 1 (27:42):
So, Chris, here's a quick question for you, and we
know that your your book. Longevity, taxes, market volatility, retirement income,
social security four oh one k's iras roth iras annuities
of state and legacy planning strategies, women retire, to pensions,
finding a financial professional. Those are the chapters. So I
played golf with a kind of a rural golf course
(28:04):
a rural town, and it's not a big town, maybe
three to five thousand people, but it's kind of really
neat golf course. But when you drive in, there's like
thirty homes and I'm like, I could never afford one
of these houses. And I made a comment to the
person I was playing with that was from there. I said,
what in the world, how did this little town, how
there's so many people have so much money to buy
houses like that? And they said, well, a lot of
(28:25):
them are farmer's widows, So that women retire too is
one of the things I'm sure you find very important
to talk about. And for your situation, it's kind of
different because it's not usually it's the male passes first.
For your dad, it was your mom. Holy cow, that's
kind of was shocking when you said that. No, there's
a lot of farmers widows that have these nice houses.
Speaker 4 (28:45):
Well, and what we're seeing is that, unfortunately, it is
a proven statistic. Currently women typically outlive men. Now in
my family, it didn't work that way. But for the
most part, what we see as women outlive men. And
you know, I think and guess why it's so important
that women become involved in the retirement planning process. I mean,
(29:05):
you would be surprised how many females don't walk in
the door with their husband on the first visit, and
Matt and I both are going to say, hey, look,
on your next visit, can you make sure and bring
your spouse?
Speaker 2 (29:17):
And sometimes the husband will say, oh, she's not interested
in this. She'll just bring a book and read. I said,
it's okay. But it's funny how the ears perk up
when you start talking about Now, Bob, if something happens
to you, we hope you live a long, happy life.
But if something happens to you, to you say, in
two years, does Sally know she's going to be okay?
Do you have a plan? Well, of course she wants
(29:39):
to take care of her. But just because she's quote
not interested, doesn't mean that she's really not interested. It's
that she's never been spoken to in a way that
makes it make sense. That's what I find.
Speaker 4 (29:50):
Well, and she just doesn't feel empowered to be a
part of the conversation because typically she hasn't been while
her spouse was working and saving, right. You know, I
will say, Mark, that is starting to change some. We're
starting to see where women are becoming more involved in
the planning, and we're seeing where women are actually being
more proactive than men. Men a lot of times will
(30:13):
say unfortunately, I'm gonna pass away when I'm seventy, and
I'm of course, I look at them like mm hmm.
You know, you're probably gonna live a little longer than that.
But the thing is is that I find women are
becoming more involved than that excites me because women typically
are going to live longer. They're typically going to carry
the biggest tax burden when their spouse passes away, and
(30:36):
they've got big rmds they have to deal with now
filing a single tax return versus Mary vial and joint.
They they're concerned with not wanting to leave a financial
burden on their children to have to take care of them.
You know, we see many couples taking care of their
parents right now, and I got to tell you they
(30:56):
don't want to leave that burden on their children because
they're living it. So so women are becoming more involved,
and I think it's a matter of helping them feel
confident that they can and are capable of learning these things.
Speaker 1 (31:14):
So here's the deal. If you would like the first
chapter of the book, we'll send it to you where
it's downloadable, and then you can read the book and
then you can maybe have a conversation with the team
if you have questions about it. Text the word book
to two two five five two three sixty three eighty nine.
I think a lot of people go, well, Matt and Christy,
they're going to probably try to sell me something. And
I don't really understand all of this, so I mean
(31:35):
they might take advantage of me. And that is the
furthest saying from your guys' mind, is selling them anything.
Just like you were talking about the four to one
K and I raising you may have or even reddle income.
None of that is a plan. Now, they're certainly factors
in creating the plan, but those tools are not the plan.
Speaker 2 (31:51):
No, they're not. I kind of think about it like this.
So my dad's a great builder. I mean he's a
retired preacher, but my dad is an amazing builder. He
could build anything. He built the church that we had
out in Erwinville for years, and I asked him one time,
I said, Dad, how are you such a good builder?
I can't draw a stick figure, I can't build anything.
And he said, because I can see the finished product
when the boards are still laying on the ground. He
(32:13):
could look at a pile of two by fours and
two by sixes in sheet rock and he could see
the finished product. That's what God has blessed us with.
So when you bring your four oh one case statements
and your I raise and your lump sum pension and
your pension paperwork to you, it's a major question.
Speaker 1 (32:27):
Is it enough?
Speaker 2 (32:28):
What happens if the market's bad? What happens the wood IFFs?
Right now, we can't prevent some what ifs Christy, people
do get sick, people die early. Things happen, right But
there's an old saying the sailor cannot control the wind,
but the sailor can adjust the sails. And so our
job is to build a planet is to see the
pile of lumbers, see the pile of sheet rock, see
the box of nails, and we can see that. You
(32:50):
need to know where your sources of income are reliable,
steady income, medicare planning, advance planning for wills, trust the states,
the stuff maybe that you have any thought about, or
the stuff that you've been putting off and no one
has held you accountable for doing it. I had someone
tell me that a few weeks ago. They said, good,
I'm glad we're working with you guys, because we've put
(33:10):
off doing a will. Now we've talked about it for
ten years. Promise me that you'll hold us accountable. And
I said, here's the card, call the person and do
it this week. So sometimes it's about being held accountable,
but it's not pressure. I'm not a seller, Christy's not
a seller. April is not a seller. We're teachers. We're
going to teach you what you need to do and
(33:31):
empower you to make the decisions to have the retirement
that you deserve. And if you're already retired and you're thinking,
wait a second, nobody's ever talked to me about taxes
or a state planning, let's talk.
Speaker 1 (33:43):
So again.
Speaker 2 (33:44):
You can just text the word visit to two two
five five two three sixty three eighty nine. You can
also call the number if you want to, but if
you'd like to text visit, text two two five five
two three six y three eight nine. Again text the
word visit or if you'd like to get the first
chapter of Christy's book, you'll get a link. Just text
(34:05):
the word book to that same number five two three
sixty three eight nine.
Speaker 1 (34:09):
It's a great opportunity, I think, to get a feel
for Presley Wealth Management and Christy Smith and Matt Kennedy
and kind of the process, so you're not going to
be maybe overwhelmed. The book walks you through step by
step and talks about all these different areas that you
really need to try to get a handle on before
you get into retirement. Maybe already retired. Great time to
get the book too, have some questions, Just text book
(34:30):
two two five five two three sixty three eighty nine.
Back to wrap it all up right after this, this
is Your Money Matters with Christy Smith and Matt Kennedy
of Presley Wealth Management.
Speaker 5 (34:39):
Text book to two two five five two three six
three eight nine to get an instant download of chapter
one of Christy Smith's book, Unlock Your Smart Plan. That's
book to two two five five two three sixty three
eighty nine.
Speaker 4 (34:58):
With Kaus on the news and uncertain in the markets,
Are you worried that your retirement savings could be at risk. Hi,
this is Christy Smith with Presley Wealth Management. Tariffs, trade wars,
and a shaky stock market have left many retirees asking
what's next for my financial future. If you've been asking
that question, it's time to take action. Come sit down
(35:18):
with me and my team so that we can review
your financial plan and help make sure that you're prepared
for the challenges ahead. Just call two two five five
two three six three eight nine for a free visit. Together,
we'll create a strategy to help you preserve what you've
worked so hard to build. Don't wait. Call me Christy
Smith at Presley Wealth Management at two two five five
(35:40):
two three six three eight nine to schedule your visit.
There's no cost to meet, but my calendar is filling
up fast. Called two two five five two three six
three eight nine.
Speaker 5 (35:51):
Investment Advisory services offered through AE Wealth Management LLC, a
registered investment advisor.
Speaker 2 (36:00):
X.
Speaker 4 (36:00):
Visit to two two.
Speaker 5 (36:01):
Five five two three sixty three eighty nine to set
up your complimentary meeting with the Presley Wealth Management team.
That's visit to two two five five two three sixty
three eight nine.
Speaker 1 (36:16):
Welcome back. To your money matters with Christy Smith and
Mett Kennedy at Presley Wealth Management. You can always learn
more and find out about upcoming events Pressleywealthmanagement dot com
if you'd like to talk with them, though you're not
really sure where you were on that roatary timement. I
think I've got enough. I hope I've got enough, but
I don't really know perfect time to chat with the team.
There's no cost for this, there's no obligation. It is
two two five five two three sixty three eighty nine.
(36:39):
Two two five five two three sixty three eighty nine.
We're gonna do a little combination here, a little mailbag
segment with something fast things Joe. It's we've never done
it before, so we're kind of looking forward to see
how this all plays out. All right, first question, Christy,
I'll give you this. What could be the impact on
my pension if I decide to retire early.
Speaker 4 (37:01):
Well, the first impact was that you would likely receive
less money because you're working for a shorter time period.
The next thing you want to consider is are you
going to take a lump sum pension or are you
going to take the pension payments? If you retire early
at a young age. Maybe taking the pension payments would
be the better option because you would have a higher
(37:22):
guaranteed amount of income. But then you have to consider well,
because most children never get a pension payment. If if
husband and wife pass away in a car accident, it's
going children don't receive the money. So, you know, how
do I offset to leave my children the money that
I've that I've worked hard and saved far and still
be able to take the pension payment? You know, so
(37:44):
retiring early can your pension can be affected by a
lot of different things. The interest rate environment when you retire.
You know that affects your pension payment.
Speaker 1 (37:53):
All right, Christy, how here's another question for you. How
do I calculate for inflation when trying to figure out
if I have saved enough?
Speaker 4 (38:01):
Well, when I calculate for inflation, you know, with my
client's retirement planning, I always calculate a higher than average
level of inflation to their expenses, meaning I'm going to
make it look like their expense goes up by a
certain percentage. I you know, we can look at even
like a five percent inflation cost to expenses just to
(38:24):
see what the long term outlook would be Now, last year,
the argument would be inflation was, you know, more than that,
but on average over the last thirty years that it
wasn't higher. So we just want to make sure that
in our plan we're building an automatic inflation. That is,
that's like a rate of return that that's going to
be added to the actual expenses each year. You'd be
(38:46):
quite surprised. Mark over a thirty year period, we would
expect that our clients need, meaning their expense need, the
money they're going to need to live on is actually
going to be double what it is when they retire.
Speaker 1 (38:59):
Yeah, thats amazing when you look at that, and that's
kind of why they always say, what the compound interest
is the eighth wonder of the world. That's kind of
that same kind of thing, but in reverse when it
comes to inflation. All right, Matt, final question before our
lightning round. When when should most people start planning for retirement.
We'd love to do it once we start our first job,
but most people don't think they're ever going to get
(39:20):
to that age. When you're twenty, can't think of being sixty.
So when when's the right time to start planning for retirement?
Speaker 2 (39:26):
So once upon a time before the Wroth four oh
one K was a thing, we would always say, well,
start planning around fifty right nowadays, when you get your
first job, if you have the option for WROTH four
oh one K, it's probably very important that you consider
adding some money to that to help hedge the taxes
later in life. But certainly if you plan to retire
(39:49):
at the standard age of say sixty two, I believe
when you're fifty, Christy you may have a different opinion,
but certainly by the time you're fifty you better start
looking long and hard and fast at have if I
saved enough? Am I saving in the right places? Am
I being tax efficient? And what things have I not
thought about? Certainly, twelve years before you retire you really
(40:09):
have to begin formulating a plan. And the five years
before you retire, that's a real critical zone. That five
year period before you retire and the five year period
after you retire you have to be very cognizant of
stock market risk and so that's a real critical zone
where you have to have a very nailed down plan.
Speaker 4 (40:30):
And I always like to recommend that the year before
you retire actually test drive your retirement, like you don't
buy a car before you test drive it, right, live
the year before you retire the way you're going to
live in retirement.
Speaker 1 (40:47):
I like that. So again, if you'd like to chat
with the team at Presley Wealth Management, it is two
two five five two three sixty three eighty nine. Two
two five five two three sixty three eighty nine. An
easy one to remember, I think is just meet with
usnow dot com. Set up your own fifteen minute conversation
with the Presley Wealth Management team. All right, we're gonna
(41:08):
do something we've never done before. This is a little
lightning round and it's really about you too, individually, and
so I'm just gonna throw out a topic. I just
want a quick answer. We'll see how many we can
get to in like two minutes. Okay, So Christy, here's
the deal. For example, it's gonna be what's on your
bucket list? Christy? You go first, Matt, You give me yours,
and then we'll just go through and see how many
(41:28):
we can get through. All right, You good with that?
Speaker 4 (41:31):
Okay?
Speaker 1 (41:32):
All right? So Christy first, Matt, then the same thing,
same question, and give me an answer. All right, what's
on your bucket list? Christy?
Speaker 4 (41:39):
Well, my bucket list is Number one is to see
Presley right at the National Finals Rodeo in Vegas, Germany.
Speaker 1 (41:48):
Germany.
Speaker 2 (41:48):
I want to see Germany.
Speaker 1 (41:49):
Okay, what's your biggest what is your biggest pet? Peeve?
Speaker 4 (41:55):
Putting the roll of toilet paper on the holder wrong?
Speaker 2 (42:00):
So which way is right?
Speaker 4 (42:02):
Well? Up, you put it to where the when you're
the role comes up, it goes down in the front,
in the front, you got it?
Speaker 1 (42:12):
Not underneath?
Speaker 4 (42:13):
Like it when I go not underneath. That is my
biggest pet pee.
Speaker 2 (42:19):
Mine is people who order it to drive through at
a fast food restaurant. Pull up eight feet and start
taking the stuff out. Get out of the way. Move Okay,
we're done.
Speaker 1 (42:26):
All right. Favorite comfort food Christy.
Speaker 4 (42:30):
I'd say ice cream, chicken pot pie.
Speaker 1 (42:33):
Okay. Favorite athlete of all time Christy.
Speaker 2 (42:38):
Joe Burrow, Michael Jordan, all right. Favorite book The Bible
Where the Red Fern Grows.
Speaker 1 (42:46):
The movie you will watch over and over again.
Speaker 2 (42:50):
The notebook Chariots a Fire.
Speaker 1 (42:53):
Okay, mine would be Maverick. All right. Holiday, you look
forward to Holiday, You look forward to the most christy.
Speaker 4 (43:04):
Thanksgiving, Christmas.
Speaker 1 (43:06):
The earliest financial lesson you each have learned.
Speaker 2 (43:10):
Oh, that's good.
Speaker 4 (43:14):
That was when I was like seven years old and
my mom paid me a penny for every gumball I
picked up in the yard from the gumball tree, and
then she made me pay for my candy bar at
the store. I realized it takes a lot to get
what you want.
Speaker 2 (43:30):
Earliest financial lesson I actually, Oh, my lord, I'm afraid
to confess this. I guess the statute of limitations has
run out. I was maybe six years old and I
stole a piece of bubble gum from Horner's Grocery on
Section Road in Erwinville, and my dad made me go
back inside, apologized, went home, got us spanking, and had
(43:51):
to work helping him to earn enough money to pay
back the piece of gum. Of course, it was five cents,
but my dad made.
Speaker 4 (43:59):
Me work for a dollar, kind of like me picking
those gumballs up exactly.
Speaker 1 (44:02):
But I was in trouble.
Speaker 2 (44:03):
So that's my earliest financial lesson.
Speaker 1 (44:05):
Okay, there's our quick lightning round. I'll you guys, I
get thirty seconds. I'll let you wrap up today's show.
So listen.
Speaker 2 (44:11):
Uh, life is all about our experiences, and if you're
planning to retire or if you're already retired, we offer
just to sit down conversation. That's really what it is.
You know our goal is, and to shove a pen
in your hand and have you sign a piece of
paper and say be our client. Our goal is to
help you retire, live a great retirement, and to leave
(44:34):
a legacy for your children and grandchildren. We help, and
it all starts with a phone call. So reach out
to is it two two five five two three sixty
three eighty nine, text visit two two five five two
three six y three eight nine, and we'll be happy
to spend fifteen twenty minutes on the phone just getting
(44:54):
to know your current situation, whether you're planning for retirement
or already retired, and we sit down face to face
and build you a retirement plan that can last and
leave a legacy. So reach out to is A seven
nine one five seven seven three.
Speaker 5 (45:13):
Christy Smith's mission at Presley Wealth Management stems from her
father's experience of losing fifty percent of his retirement portfolio
from bad financial advice. Get your second opinion by calling
two two five five two three six three eight nine.
That's two two five five two three sixty three point
(45:34):
eighty nine.
Speaker 3 (45:41):
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 as it offers 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 Presley Group are not subject to investment advisor requirements.
AWM and the Presley 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
(46:53):
obtained from sources believed to be reliable, but accuracy and
completeness cannot be guaranteed by the Presley Group.
Speaker 4 (46:58):
This radio show is a paid placement
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