Defining Financial Freedom & Independence

Join David and Travis Shepherd of Shepherd Wealth Solutions inside the Financial Lab Saturday at 10am on WJBO Newsradio 1150 AM & 98.7 FM to get a better understanding of the financial issues you could face preparing for and in retirement!

Visit shepherdwealthsolutions.com or call [phone] to learn more!

Episode Transcript

(00:09):
Welcome to the show. We appreciateyou joining us here today for the financial
Lab with the One, the Only, the Father's Son team David and Travis
Shepherd of Shepherd Wealth Solutions. Myname is Jessica. Wanna welcome everybody to
the show. Happy July fourth weekend. And David Travis, you guys have
such a big family. I canonly imagine the kind of July fourth party

(00:30):
you put together. It's a greattime, though. You know. We
got a big swim pool, bigbarbecue, pitt get those Washington Parish watermelons
in here. We have a seedspitting contest, all kind of crazy family
traditions going on around here. That'sa new one. Funny because mom's usually
the winner of that, of thatcontest of all, and that you don't
want to line up on the otherside of mom. Yeah, man,

(00:51):
would be the fireworks, and Ithink that's any The big thing is all
the little all the little cousins goingaround. Yeah, this time with the
sparklers, you know, going aroundpraise. I'm sure all the moms are
gonna be on edge and all ofthose they are fine. Yeah, it'll
be fun though, We'll have goodtime. I don't never be grilling this
time. I mean to be likeFather's Day when it's one hundred and ten
degrees outside and you get a grillat four hundred is always hot. Might

(01:15):
have to get fancy, you havelike one of those spot shows of cold
soups or something crazy like that.Asters we're in good shape. There you
go, get the mysteris, gotthe outside a sea blowing. It's not
human, it's more human. Yep, Travis is buying all the meat for
the barbecues. Oh man, Ishould have bought the misters that have been
cheaper. Yeah, that would havebeen a better way to go. You
know, when it comes to watermelon, I have to ask, because clearly

(01:36):
we're here in the South. Doyou guys put salt or sugar on your
watermelon or you just eat a plane? I don't know. Sometimes most time
we eat a plane. I thinksometimes put salt on the my favor,
they needed the watermelons. You getthe watermelon and you muddle it and juice
it, and you can make thatuntil you know, the little little cocktail
here and there. It's always funto have. So Maria and I used

(01:57):
to do that. We snake awatermelon Moheitos that's delicious drink. So you're
talking right, and bust some ofthose out this week? Are you make
watermelon ice? You everything that Ishould make watermelon pop cycles with the girls
and everybody this weekend? Yeah,there you go. You guys got a
plan in place that is, thanksJess. What are you gonna be doing
for four the July? What abouty'all? I'll be hanging out with some
family and friends. We're gonna barbecueand then you know, my two year

(02:20):
old son, he recently just discovered, uh, sparklers, and so we
might do a couple of those.But just like you said, the moms
are on edge because I was.I was crazy when he was doing this
the sparkler thing, because I justknew his other little hand was going up
there. And sure enough, oncea sparkler was done, he went to
go reach and I just got himjust in time. And I might I

(02:40):
may have scared him out of sparklersforever because I yeah, so I just
thought, well, listen, I'drather you'd be scared than us going to
the er. So whatever we gottado, that's a good, that's a
good. That's a good. Riskmanagement. Quick, Oh my gosh,
you have too. I have atwo year old. He's like Superman.
He's fasting than a speeding bullet andwherever he goes, whatever he does.

(03:05):
But you know, being that it'sthe fourth of July, you know that
brings us back to America and independenceand freedom. And I kept thinking,
all right here in the financial Labwith you guys, there's got to be
a way that you define financial freedomand financial independence with the financial labs,
say that's ten times fast, andyou give that independence and freedom to those
individuals that you're helping retire successfully.So I want to know in detail what

(03:30):
does it mean to retire with financialfreedom at Shepherd Wealth Solutions. You know,
that's it's a great question, Andreally it comes down to having a
stress free retirement. You know,once you have the income in place of
money and savings, you know,designated funds for certain things like fun money
and other unexpected expenses, and youknow it starts distressing people. So you

(03:53):
know, having enough money the lastall your life, having those checks come
in regularly, I mean, that'swhat it's all about in retirement. I
think Dad hit the nail on thehead. I mean, really, the
idea behind the Financial Lab and whatwe do every day is to bring that
financial independence, to know that you'reable to spend freely on the things you
want to spending, create that lifestyleand live it confidently in retirement. I

(04:14):
mean, you know, the thingI would tell you is growing up in
this family business, one thing we'rereally taught from a young age and it
probably doesn't really hit home until youget older, But that's this that most
people think of money as quantitative,you know, like how much he got?
Right, our family tends to thinkof money as qualitative, and in
the words, it's not how muchhe got, it's what can you do
with what you have? You know? I mean we don't think of the

(04:38):
assets our clients bringing to us tohelp them create their retirement plans is just
simple dollars and cents. I mean, it really represents a for a lot
of them, a lot of lifetimeof sacrifice, sacrifice and time away from
their family working hard to earn thatmoney. And instead of it's life savings,
it's a portion of somebody's life andthat's what they're entrusting you with.

(05:00):
And that's how we think about itwhen we're putting these plans together, is
how can we take the portion ofthis person's life that they've worked so hard
to accomplish and accumulate, and reallymake a positive impact in their quality of
life and retirement by putting together plansgoing to help to protect the money they
need for income right to generate that, and then how to grow their money
smart in the for the future,because we're going to need more of that

(05:21):
doesn't mean we're just willing to takeon all comers, all risk, right,
So grow money smartly and then finallyreduce ory limited taxes where we can,
so that money not only goes furtherfor us, but goes further for
our kids and the generations to come. So you know, money is not
just quantitative, it's qualitative. Thebetter stewards we are of that money,

(05:41):
the better job we do at createthese financial plans and really given that money
a purpose and finding quality, goodsolutions that are going to work for our
clients. That's what's really going tomake that positive impact not only on their
lives, but the lives of theirfamilies so they can do more with the
people they care for the most.And that's really how we think about it,
and it makes us stress free retirement. Yes, that's what it's all
about. And Dad, it's likeyou always say, you know, you

(06:02):
got to plan well to live well. So you know, if you're out
there and you want to figure outhow to create a good plan so you
can live well, that's what we'rehere to do. Calls up and get
get lined up to do the financialLab. We'll show you how to protect,
grow, and re use taxes onyour family's wealth so you have a
plan that's done well and you canlive well. If you'd like to come
in and find your very own financialfreedom, that financial Labs waiting for you.

(06:25):
Two two five four six five tensixty five. Again, that's two
two five four to six five tensixty five. More details of course on
the website. You can even bookyour own appointment there as well at Shepherd
Wealth Solutions dot com. Stick withus. Coming up next, very special
guest Grace and her mom Jackie aregoing to join us and discuss this very

(06:45):
important fundraiser event coming up on Julyeighth to help Grace with overcoming lemphoma.
You're not gonna want to miss thatand the importance that it has here at
Shepherd wellth Solutions. Stay tuned whenyou retire that regular page from your job
is going to stop, but youknow what won't stop your bills. That's
why you need to make sure youstill have money coming in after you retire.

(07:10):
David and Travis Shepherd of Shepherd WealthSolutions can help you convert your retirement
savings into income for life. Thatway, you can focus on what really
matters, like spending more time withfamily, meeting friends for lunch, and
doing all those things you never hadtime to do before. Call Shepherd Wealth
Solutions today at two two five foursix five ten zero six five. That's

(07:31):
two two five four six five tenzero six five, or visit Shepherd Wealth
Solutions dot com. I think youother tips that are fighting for our contract.
Thank you for your service. Welove you all. Happy fourth of
July, Happy fourth of July.We appreciate you joining us here today for
the financial Lab with David and TravishShepherd. Very special guests here joining us

(07:53):
here today. Grace and Mom Jackieare here to talk about a very important
event coming up on July eighth.Saving Grace, David, take it away.
Yes, we have a fundraiser comingup and we're having some fun in
the office with our group. Wegot miss Grace right here. We got
her mother, miss Jackie, andyou know, Jackie, what do we
why are we having this fundraiser.Well, back in February, Grace started

(08:18):
having some symptoms that took quite awhile for the doctors to diagnose, but
on March thirtieth, she was diagnosedwith AOK plus and a plastic large cell
lymphoma, which is definitely a mouthful, but it does, you know,
mean it's cancer. She's been through, you know, several procedures over that
time and has just powered through anddone amazing. She is actually going back

(08:41):
to more for her fifth round ofchemotherapy of hopefully only seven rounds and just
doing fabulous. We've already seen alot of improvement and I just can't say
enough about her, her attitude andher spunk and how wonderful she's been the
whole time. Yeah, these expensesof healthcare, doesn't hurt to raise a
little money less help us out.You know, her specific type is pretty

(09:01):
uncommon in children her age. It'susually seen in people get bit older.
Um so she is a little bitof a rare one. But thank god
the diet, the treatment for thediagnosis is a more simple treatment than I've
heard, so we're very blessed thatshe doesn't have to, you know,
go to Saint Jude. We canin Tennessee. We can stay here.

(09:22):
We can do everything here in Batonaryso far, so that's been wonderful.
At the children's hospital here. It'sreally really great that we have the children's
hospital here and they do wonderful thingsfor the kids and everything. Saturday,
July eighth, twenty twenty three,from eleven am to two pm, and
that'll be at the Louisiana Dental Center, which is right over there by the

(09:43):
juven shopping center, right, yes, and what are we again, what
are we going to have their fairbody? So that day we will have
um, some employees, UM andfamily members who have volunteered, Belk,
cook, Potli, We're gonna havesome plates. Um. We're also going
to have a coffee truck and asnowball truck come and they'll be there from
eleven to two as well. Andeverything planned go well, then Grace should

(10:09):
be there as well, be ableto wave to everybody and you know,
thank everybody for their support. Allrighty, miss Grace, Well, I'm
excited to be with you this Saturdayon the eighth and we're gonna be at
Louisiana Dental Center and we got youronly special event called Saving Saving Grace.
Right, Yeah, I heard there'sgonna be snowballs and coffee and pasta a
lot. I wanted. They haveiced coffee. Ey like ice coffee.
I do not know. Do youlike ice coffee or hot coffee? I

(10:31):
don't really drink coffee all that much, but I like hot coffee. You
like Do you like? Oh youdo? My girls like hot coffee too.
Do you like snowballs more or coffeemore? Snowballs definitely? What's your
favorite flavor? Favorite flavor? Weddingcake. Wedding cake, that's my favorite
flavor. That's the best. Um, well, a couple of things,
Grace. You want to talk aboutthe little about yourself? And how old

(10:52):
are you? I am ten?Ten and I heard you're going into the
fifth grade. Yes you really?You're like yes, indeed, that's I'm
talking about. You're almost like juniorhigher high school. Yeah, like coming
up fast. That's one of thethings I'm worried about. I'm going to
have to spend like half fifth gradeat home and the other half at school

(11:13):
because I can't just go the wholeyear. Oh you do the home about
Oh you're a new school from home, right, Why are you doing treatments
and stuff? Yeah? Yeah,okay, so you're excited about that.
Now you want to be at schooland playing with your friends. Yeah,
I bet you do friends. Yeah, that's gotta be a tough part about
going through treatment. Right. Well, hey, tell everybody where you're from.
Grace. I am Grace from outerspace and need to say Grace from

(11:35):
outer space in the USA. That'sall I'm talking about. That's awesome.
Well, I know we're super excitedto be working with you in this Saturday
on the eighth and hanging out withyou and your mom, Jackie and all
your family and friends. And we'regonna be out there off of a juven
road at the weds end of thedental center. Um So, any do
you want to tell us a littlebit about your story and like how how
you're doing with treatment and what's goingon. What are you looking forward to

(11:56):
the most treat mess being good.I don't remember a bunch of stuff about
what happened, and it's been good. It's easier than I thought it would
be. Usually people saw these horriblestories about going through cancer and going through
a chemo. For me, it'sbeen it's been pretty hard, but I

(12:18):
don't remember most of it, soto me it's easy. Yeah. Well,
you know, I think one ofthe big strings you have is one
as you're you seem like you're prettyYou're pretty happy, kind of a little
happy, little warrior, like alittle trooper, just hanging in there and
taking care of it and looking onthe bright side of things. My numbers
look good. I'm usually more happy, martenergetic. Yeah, gets tired as
quickly. You got good energy andyou're smiling over here. So I'm excited

(12:41):
to see you, and I can'twait till the eighth. We're gonna have
a lot of fun out there,and we hope that everybody will come out
there and help the support Staving Graceand Benefit. That's gonna be July eighth.
So one other thing to remind everybodyis you can buy the past lot
of tickets ahead of the event.So if you want to buy those,
you can contact the office. Iknow Jessica is going to give you the
number here in a minute to makearrangements for that you and buy him same
day. But if you want tobe ahead of the game. Get your

(13:01):
pasta ala while you're in line behindGrace and I for a wedding cake snowball.
Recommend you call on the office andget those done today. This is
Grace from out of Space and Ihope to see you on July eighth.
Oh that's awesome. We're happy tohave you here. I know your mom
was saying that you're a super Thankyou for all the thoughts and prayers and
support from family, friends in thecommunity, and we can't wait for the
community rally behind you again on Julyeighth, from eleven to two Louisiana Dental

(13:24):
off of Juban. Like I said, you better get there early because Grace
and I will be parked up infront of that snowball truck. So good
luck. Everybody calls you want toget the postlea tickets ahead of time.
Grace from Outer Space, USA,thank you so much for being with us
today. Thank you. If you'dlike to attend this event, purchase tickets
or just get more information, calltoday two two five four to six five
one zero six to five. Again. This is for that Saving Grace event

(13:46):
coming up on July eighth. Twotwo five four to six five one zero
six five. Coming up next,is it possible to recession proof your retirement
income plan? Think about that.We'll be right back. It seems like
a lot of people these days areplanning to keep working during their retirement years,
and that's great if it's by choice, but not so great if it's
by necessity. That's why it's soimportant to make sure that you're prepared.

(14:09):
David and Travish Shepherd at Shepherd wellSolutions can help you do that. Give
them a call at two two fivefour six five ten sixty five. That's
two two five four six five onezero six five, or visit Shepherd well
Solutions dot com. You're American.I liked hap four Happy fourth of July.

(14:45):
We hope you're enjoying your weekend.We do appreciate you joining us here
for the financial lab with David andTravish Shepherd. My name is Jessica.
The phone number two two five foursix five one zero six five again that's
two two five four six five onezero six five. The website Shepherd wealth
Solutions dot com. Think about this. How many times have you seen these
headlines? This first one here?If you're sixty, here's how much you

(15:09):
should have saved for retirements. Secondone is the average for old one K
has this much? How much doyou have? Well, they make us
wonder if we're really doing what we'resupposed to do, right, they're comparing
us to everybody else. So whenclients bring these type of headlines to you,
when they think, oh my gosh, am I on track? How
do you guys answer? You know, it's kind of true. I mean

(15:30):
we hear that a lot, wouldn'tyou say, Travis? Absolutely? You
know they want to know if they'reon track, And what we try to
do is tell them. Listen,it's an individual thing. You know.
It comes to the ins and outs. You know, how much do you
have going out? For usus?How much can we bring in? It's
all about income planning and retirement andhave you saved enough? Well, you
know we're looking for gaps. Youknow, can we fill all the gaps?
It's yeah, it's every plan shouldbe basically you need to do.

(15:52):
Your retirement doesn't go unless the cashflows, So income is first. In
order to figure out your income,you need to figure out how much do
you want to spend and what doyou spend it on? And are those
things are going to be around forever, you know, are they one time
spends? Are they reoccurring spending?And then you want to make a plan
to solve for those expenses. Yeah, so what are your known income?
We need to talk about the expensesmore than me to talk about how much

(16:15):
you've saved. Right, Let's heara lot of financial planners talking like that.
But we need to get the outflowless when we get to retirements,
so that your income coming ends alot more. So that's kind of what
you're talking about, trouts. I'msorry, it's just matching your income to
your outflow. I mean, that'sthe end of the day. Like you
know, one of my favorite jokesabout people always ask and say, well,
I have the budget, I haveto stay on a budget then for

(16:37):
retirement, And I'm like, well, not really. I mean the idea
of budgets, you're limiting your spending. Right, So what we're really talking
about is what does it take foryou to live the lifestyle you want to
live. Let's figure out what thatexpense number is, and let's go figure
out what are your known income sources. You got so security, great,
you got a pension, great,you got rental income great, you got
some business income, great, andthen those incomes get added up. Does

(17:02):
it match your lifestyle expenses. Ifit does, you've got a green light
for takeoff. You're ready to go. If it doesn't and it falls a
little bit short, well that's whatyour savings are there for. So you
can create a you can create anincome plan to replace your paychecks so you
can make up that difference. Youknow, I did one of the funniest
things. I share the story alot, but looking back at one of

(17:22):
the funniest things ever did. AndI got a chance to go to Spain
many years, many years, fouror five years ago, I guess maybe
seven years now. Anyways, pointof the story, I do enjoy some
sports cars, right, I thinkmost most young guys are guys in general,
enjoy a fast car. So Ikind of nerd out on some of
them. But I will never forget. We were in Spain with a bunch
of a bunch of friends around allthe same age. We have been upstairs

(17:45):
having a couple of beers, gettingready to go out to the beach,
and when we're getting ready to goout to walk along the beach, and
long a little board walk he hadout there that evening there was a bright
orange Bugatti, right super fast supersports car. Yeah, I mean like
this is supercar, Like this thingprobably calls I don't know, it's a
lot of my expensive cars, andum, I immediately came out I saw

(18:07):
it. I went straight upstairs backto the little little hotel bar area where
all my buddies were. Said,hey, you gotta come outside. There's
a Bugatti sitting in front of valet, Like, we gotta go, get
your drinks in a go cup andlet's go right, you know, and
so here's a lot. Yeah,well the Spanish bargain. He's like,
what's a go cup? Like yougot plastic anyway, So the lot story

(18:30):
short, we all get down thereand m we're getting out the door.
You can hear the valley fires up, the Bugattians go off. I'm like,
oh my god, we're gonna getto see who owns this Bugatti and
takes out of here. Sure enough, there is a guy who was sitting
just down the corner of the barfrom us. It was his Bugatti,
and we've been talking to him thewhole whole afternoon. I could not stop

(18:52):
myself from asking this question, Heyman, why on earth spend that kind
of money on a card, appreciateit? How do you do that?
Yeah? You know, because that'sme internally, I'm like ah, in
doing the numbers, and then Iwas like, as soon as I said
it, I knew exactly what hewas going to say because I can't.
Right, I can afford it.I've done what he needed to do in

(19:15):
order to afford owning this vehicle.And look, you're out there, you're
saving money for retirement. You've probablydone everything you need to do, or
you're close to it, and that'swhy you're thinking about retiring, and you
should be able to afford yourself thekind of lifestyle you want to do.
The question is what tools you haveat your disposal, how much have you
saved, and can we put thosethings together to provide that kind of lifestyle

(19:37):
you want to do. That's it. That's the financial lab as a designed
to do. It's designed to takeaccount of what do you want to do,
how do you want to spend yourmoney, how much money have you
saved, where is it, how'sit taxed, what kind of you know,
risk and reward situation do you have? And then how do we match
your income to your expenses based onwhat incomes you already have, what incomes
can we provide and how long canwe make this money. Yeah, that's

(20:00):
the financial a process. One ofthe most important things we do is talk
about income. Gives you the confidenceto walk into retirement knowing that you have
paychecks on that are going to continueto be there for you. It's the
gravity of retirement keeps it all together. If you're out there and you're thinking
about what kind of lifestyle you wantto have in retirement, you know,
you got some ideas of what youwant to spend in retirement. You want
to figure out if you can makethat work now or if you can make
it work next year or two orthree or four or five years from now.

(20:23):
Come in and have a conversation withus. We'll walk you through the
financial lab process and let's see.Let's see how your plan shakes out.
Maybe you got a green light andyou're ready to go. Maybe you need
to do a couple of things here. There are implements a different way of
saving, or maybe you need tothink about adding a couple additional tools to
your toolbox so that you can reachthat retirement on time. But we won't

(20:44):
know and you won't find out ifwe don't have a conversation. We don't
walk through that educational process of thefinancial lab. So if you're out there
you want to figure it out whereyou have a green light for retirement,
give us a call. It makesyou pick up the phone and make a
phone callent that's right, you pickup your phone, your cell phone.
You're probably scrolling on right now.Two two five, four to six five
one zero to six five. Goahead and put the number in there,

(21:04):
save it, give it a callright now, Text yourself, email yourself
to make it happen on Monday morning, whichever way you go about it,
to know if you get a greenlight or red light when it comes to
retirement. This financial lab is goingto give you those answers. Two two
five four to six five one zerosix five The website, of course,
Shepherd Wealth Solutions dot com. Thequestion we've all been asking ourselves is where

(21:26):
is this crazy stock market? Headedanalyst Sam Stovall is starting to see the
light at the end of the tunnel. Well, believe it or not,
our economists are saying no reception.Yes, a possible slowdown in the second
and third quarters of this year now, you know, our belief is that
the bear market bottom is in andthat while we could end up with volatility
along the way, we're very,very close to the beginning of a new

(21:48):
bull market. So I gotta behonest, I'm not as optimistic as he
is, especially because what we've beentalking about for week's guys. I mean,
are you hearing this from your clients? Are they optimist? Are you
more optimistic? Talk to me,Well, I hope they're right. I
mean, I hope we don't gointo recession, but you know, you've
got to be prepared for this stuff. You know, you still see any
somewhat of inflation out there. Theeconomy seems to have slowed down. Maybe

(22:11):
we're maybe we're behind its starting tospeed up. Maybe the recession is pausing
for a minute. Oh yeah,Paul, somebody hit the pause about now
quick. I mean, there's there'sa lot of things. I can definitely
tell you this. We did thosetwo workshops about getting retirement right, and
that is not what people at theworkshop we're asking about. In fact,
that a couple of different people I'mgonna paraphrase what they said, but they're

(22:32):
like, hey, look, Ijust really do not understand how the stock
market is up so much from Januarytill now, but the economy and inflation
and interest rates and everything else isbasically going to kind of you know,
we're in a handbasket. It justdoesn't make any sense. And one of
them was pretty astute, one ofthem. One of them picked it out
and he said, look, youknow, there's basically seven stocks that make

(22:55):
up the minority of the games.So that's like Google alphabet. I mean,
it's all these right Tex stocks.Really, it just doesn't make any
sense. It seems like the marketright now is disconnected from the reality of
what's going on with the economy.And more in particular is how how us
as consumers are able to actually spendmoney. I mean, I can tell
you right now, I know mostpeople that I talk to you, they're
not spending as much as they asthey were. And the reason why they

(23:18):
might be spending as much, it'sjust not going as far. And you
want to know how much of thatkind of risk is in your portfolio?
Coming and see us do your financiallab well, X ray all the different
components of your portfolio and show youexactly what kind of risk. And we
were relationship you have and if you'vegot some work to do to fix it,
let's do it. It's as easyas calling right now again the phone
number two two five four to sixfive one zero six five two two five

(23:42):
four to six five one zero sixfive. You can always get more details
on the website as well at ShepherdWealth Solutions dot com and guys, real
quick and when to highlight something thatwe've been talking about for a while off
the year, but I think it'simportant we talk about it on the air.
Something close and near and dear toyour heart and up. The event
coming up on Saturday, July eighth. It is called It's an event for

(24:04):
our little girl named Grace who isfighting lim foma. Right, so,
um, I'm gonna let you guyskind of take the floor with this,
tell me all about it. Howcan our listeners be involved? Yeah,
So, so we have this event. It is coming up, like you
said, it's gonna be on Julyeighth, that's the first Saturday in July.
It's gonna be from eleven to two. We're gonna be out at Louisiana
Dental Center on Juman Road. Um, we're doing they're doing Apostelia um plates

(24:25):
they have a TV raffle, We'regonna have a snuffe truck is coming out
there. Well, um and we'regonna be there from eleven to just trying
to raise some money to help Gracefight fight limb foma um and uh so
you know, I mean, atthe end of the day, like one
of the best lessons we've probably gotfrom I know, from my dad and
my grandfather. I'm sure Dad canspeak to this too, is uh.
You know, it's not enough tojust be able to take care of you

(24:47):
and your own if you're if you'recapable and able, you know, God
kind of has you here to takecare of others too. So um So,
if you're out there and you cancome help participate, you can buy
a couple of tickets. Let usknow. You can buy them at the
at the event on July eighth.If you want to give us a call
to the office, we can getsome tickets available for you here. You
can stop buying pick them up.But you know, whatever you can do.

(25:07):
I do know we'll have our thevendemo. I believe we're gonna be
posting on our Facebook page here prettyshortly. So if you can't get out
there. You don't want you can'tget any tickets. You can act.
You can scan the app and andhelp Grace above via venemo on our Facebook
page. So, so y'all comesee us out there. Let's have some
let's help Grace out. We're gonnabe just passed the Juban crossing, you
know the dental, Louisiana Dental.That's where it's big parking lot. We'll

(25:29):
have a food truck, snowballs,coffee. We'll have a good time.
We'll be out there, they'll beout there. We'll look forward to seeing
a good time, for good callsfor a good girl, seeing our radio
listeners help us out. And againfor tickets. More information about this upcoming
event against Saturday, July eighth.This is an event to support Grace fightling
FOMA. Give a call today twotwo five four to six five one zero
six five The website Shepherd Wealth Solutionsdot com. Coming up next, is

(25:53):
it possible to recession proof your retirementincome plan? Think about that. We'll
be right back. Happy Birthday,America, maybe away the plan that red

(26:17):
one. Hello America, americ Americanfirecrackers. We appreciate you joining us here
for the financial lab my name isJessica, alongside David and Travis Shepherd of
Shepherd Wealth Solutions. The phone numbertwo two five four six five one zero
six five two two five four sixfive one zero six five of course,

(26:37):
the website Shepherd Wealth Solutions dot com. You know, I feel like for
months we've been talking about are interrecession as a recession coming? What are
we supposed to do? Well?It turns out no one's got a crystal
ball. No one is certain,and that even includes legendary investor Peter Lynch.
Here's what he recently told CNBC.Well, we've had thirteen recessions since

(26:59):
World War Two, and we've hadthirteen recoveries. If this is a recession,
it's probably the most predicted one ever. I'd love to know the future.
I'd pay five extra dollars for nextyear's Wall Street Journal. I cannot
predict the future, but this one, this recession is so expected, so
predicted. Maybe it's coming. Idon't know. Well, maybe it's coming.
I don't know. I'm with him, and I guess. Really,
the bottom line is, if weall knew the future, life would be

(27:21):
you know, a little less complicated. But there's got to be something that
we can do to take the guestswork out of it, versus just writing
this crazy volatile market. You know, these volatile markets lead to a recession.
I mean when the markets go down, I mean that's the beginning of
a recession right there. Yeah,markets don't crash until they're oversold. And
you know, what do you do? That's the thing? You know,
all that volatility out there. Imean, we're getting a lot of people

(27:44):
in here. They're very, veryworried. And what are they worried about
their money in the market? AndI would say this all the time.
If you're worried about your money inthe market, maybe you got too much
money to market. But what theydon't know is where to put that money
and make it grow, so theydon't have the volatility. So we have
mister Outcome and when out of towndied and one of the things he has
us to do was pull up hisportfolio from that he used to have his

(28:04):
old one before he met us.And one of his main reasons for making
the switch, if you remembers,he was really concerned that him and his
wife are heading into retirement. Themarkets are volatile, and he knows he's
got enough money to make it asit is. What he's worried about is
having another big two thousand and eightkind of draw down his first couple of
years in retirement, not being ableto recover from those losses. That would

(28:26):
kill his fun. But yeah,that would definitely kill his fun. So
when we looked at it in December, man, he was down a lot,
like he was probably down close tohis old portfolio, down almost twenty
eight percent or so. Well,that's most people out there. They're down
thirty seven percent or more are twentypercent at least right now, I mean
the S and P and the NASDAC. I mean it's making a little rally.

(28:47):
Yeah, it got a little rally, but is it got legs a
stand on? I don't know.That's what a recessions on. And that's
exactly what Al said. He said, you know, the biggest difference for
me and since we made this switchis like peace of mind, you know,
knowing that a Porsche my portfolio isthere and it's able to grow in
the markets there to give me growth. But another portion is there and it's
able to give me predictable consistent incomelike mailbox money income, he said.

(29:08):
And then you know, we've gotanother portion there that's safe. So right
now our markets of volatile, we'renot pulling out of my growth portfolio.
We're pulling out of my safe portfoliofor my fun money. So it's a
basic ABC plan. It's basic ABC. You know, tell them what the
ABC stand for. Well as income, you gotta have that first be is
growth. You gotta grow your moneyif you want to live long for a
long time. And see if yougot to have some safe money because things

(29:29):
that can go up and come downand you want to have a place to
pull from when the market doesn't wantto give it to you. So it's
having those different income streams. That'swhy you know we preach and preach multiple
income stream Yeah. So, Imean, mister Allen's super happy and now
he's gonna be excited to see andtell you about the review because he was
looking forward to seeing you when youwere out of town. But you know,
we were talking the other day aboutone of the ladies that you said,
who it's a story you called it. You can't take it with you,

(29:49):
a kind of thing that would probablybe a good one to bring up
again. We haven't talked about herin a while. She came in with
a big problem. Her husband diedprior you know, to seeing us,
and she had this pension. Itwas like a nice pension, about nine
grand and her problem was she didn'thave If she took the pension, she
didn't carry on to her kids.Yes, she wanted to take the monthly

(30:11):
income because she wanted to style income. She wanted to die, she needs
the income right, but she didn'tlike it because it was a life only
She going to do life only right, which means when she dies, nobody
else gets. Or she could havedone a joint life with her husband's he's
deceased, so now that's not anoption. So how does she get the
pension income monthly and pass it onto the kids. So we brought her

(30:33):
in and we started looking at solutions, and one of our solutions that she
liked the best was we put itin a safe investment strategy inside of an
annuity, and we got an incomestarted. And this income actually increased because
we tied the income monthly income toany market increases would increase her income.
And once her income went up,it never goes back down. So we

(30:55):
did two things. We got hermoney in monthly distribution for very good monthly
income. The monthly income goes upevery time the market goes up and it
never goes back down. And alsoJessica, yeah, she passes away and
she didn't live long enough to enjoyall that money we were paying her.
It passes on to the kits.Fantastic problem solved. Ye, I mean,

(31:15):
there's just a simple ABC point.We do these all the time with
the financial lab A part as income, it's number one priority. We took
care of that using the annuity structurewhich had increasing income, which is a
really nice benefit. And that reallyhelped her because we did look at doing
the annuity mix with like a dividendportfolio, and she just doesn't kind of
like that. She doesn't like theups and downs you know, on the

(31:37):
flow about that. Yeah, whenit came to her income and one of
her big points, and I thoughtit was really smart of her. Well,
she was talking about the year twentytwenty with COVID, remember, and
how some of the nuity companies werereducing their their dividends, so she didn't
so anyways, that wasn't her cupof tea. So the income route was
definitely more appropriate for her. Andthen of course you don't have to.
We don't have to use it allthere. The good thing for her is

(32:00):
not all her money had to goin there to create income from this annuity.
So the money that was left over, we create a growth account,
growth strategy. You know, someof the markets doing really well, she
gets some growth with it, andyou know, good times, she takes
her fun money from the growth account. And see, of course is well,
times won't always be good in themarket, so you're gonna need some
more safe money. And so shehas that set up so when the markets

(32:21):
are going down, she pulls fromher safe money account and that's where she
goes and spends her fun money.And the best part is at the end
of the day, when she's nothere to enjoy that money anymore, her
family is going to get it,you know, with the ABC's of retirement
right there. You know, hey, I want to ask you, didn't
we get a hug after that appointment? I believe we did. We did
get that you or in a huggingdude. Listen, the plan of her

(32:43):
retirement is easy as ABC in one, two three, right. I think
the Jackson five said that stuff.I think they Yeah, if you want
to come in and find out howto make retirement right for you. I'm
talking about right r it Te talkingabout risk, income, taxes, and
estate planning. You gotta have theABC plans and again, guys, A
is for income RIGHTE, B isfours for risk management and growth and see

(33:06):
and see is four safe money awesome? Well, you guys can always come
in right now and get that ABCplan for your retirement. Again, retirement
planning easy as ABC one two three, You can't go wrong. The phone
number again two two five four tosix five one zero six five again two
two five four to six five onezero six five. Guys, for those
that are thinking, all right,I'll come in for this meeting, I

(33:28):
have some questions or you know they'reright. I've been worried about, you
know, my risk in the marketand you know, getting that guaranteed income.
What's that first time meeting with youguys like, yeah, Jessica,
we try to take the stress outof retirement. When you come in,
We're gonna try to come together andshow you a stress free retirement and how
to make your retirement more stress free. So what do we do, Trivis.
Well, the first thing we gottado is we definitely need to take

(33:49):
a look at your taxes. Iknow everybody except to be an afterthought,
but for us, that's a fourthoughts. First things first, let's let's
take care of taxes and figure outhow much you Uncle Sam now and how
much you might own in the future. Because money is not all your money
out the gate. All Sam wantsa piece of the pie. So so
bring your taxes, Bring your taxes, Bring your taxes, and then you
know. Here's how retirement works.We need to know what you want to

(34:10):
spend. Come in with an ideaof what you want to spend. We'll
send you the financial lab work bookthat helps guide you down your everyday expenses.
Have some fun stuff in there.I mean, what's the point of
having this money if you're not gonnado anything fun with it? Right,
So try to have a trip ortwo lined up, or some memories you
want to make, or something maybecharitable you want to do. That'd be
great. And then so now weknow how much you want to spend.

(34:31):
We got to know what you got, right, bring some statements in.
We need to be able to seewhat do you have, where is it
saved? You know, how's itgoing to be taxed. Make sure you
bring in your statements that show theindividual investments. You know, if you're
invested in Tesla or Xon or whatever, we want to see that how many
shares your own so we can runyour risk and reward map and figure out

(34:52):
if you can you know, overpaidor underpaid for the amount of risk you're
taking. And that's really it.If you're married, bring your spouse who
has a and one plus. Idon't want you to have to you know,
I don't want you to come inlike me and sends me somewhere and
I forget to ask the one questionshe sent me there to ask exact get
it when I get home, youknow, so you know, definitely bringing
your spouse and look at all jokesaside. It's important for you both to

(35:14):
come in, whether it's for thefirst meeting or every meeting there after,
because you know, you spend yourlives together and one day there there's going
to be that time where one ofyou is going to be left, and
we want to make sure that bothof you know what's going on. You
know, you have a plan andit's there for you both. So make
sure you get the input and youknow how to use it. I can't
tell you enough. You built thiswealth as a team. You need to

(35:34):
spend it and live life together inretirement as a team. So yep,
that's it. Bring those things intaxes, statements, how much money you
want to spend, and bring yourspouse. Yeah, it's not a pressure
appointment. We actually have a lotof fun in our appointments. It's a
discovery. Let's get it done.I love them's discovery and getting you on
the road too and through retirement twoto five, four to six five,
one zero six five Again, comein today for that ABC plan and get

(35:59):
reach hirement right two two five foursix five one zero six five. The
website Shepherd Wealth Solutions dot Com Comingup next. President Biden recently signed the
new Secure two point oh Act.What does that mean for you in your
financial future? We're going to talkabout it to stay with us. Ah.
The roller coaster, no matter yourage, no matter the amusement park,

(36:20):
it never ceases to bring the emotionalgoods, the anticipation, the excitement,
and then the fear and adrenaline rushthat comes with the King of all
rides. The same can be saidwhen it comes to your retirement. Lots
of questions and concerns that for somecan feel like a roller coaster. Will
you be able to continue to liveas comfortably as you do now? Will

(36:40):
you have complete financial independence? Willyou run out of money? How about
taxes, social security or healthcare?David and Travis Shepherd and the team at
Shepherd Wealth Solutions can answer these questionsand more with their financial Lab called two
two five four six five one zerosix to five. That's two two five
four six five ten sixty five.Call Shepherd Wealth Solutions today and let's save

(37:05):
the fear and adrenaline rush for theamusement park right dust country in the world,
the Red, White and the FlueAmerican five. I'm an American.
I have right the right to befree America. I've said if we hit
land, very good. You arelistening to the financial Lab with David and

(37:35):
Travis Shepherd. Check out the websitelots of great resources their Shepherd Wealth Solutions
dot Com. The phone number twotwo five four six five ten sixty five
two two five four six five tensixty five. Congress has finally passed Wood
has been referred to as Secure twopoint zero. It's a bill that's supposed
to help Americans save more for retirementand of course leave that money untaxed for

(37:59):
longer. Or so, guys,can you run down a little bit of
the changes coming our way and whatit really means. Yeah, so there's
there's a few things that came through. You're in the secure acting and that
we'll get the high notes, right. So I would say, number one,
it's going to postpone your requirementimum distributionsyour rmds. It's gonna put that
back from let's see right now it'sat seventy two. They're gonna push that

(38:19):
back to seventy three, and thenin twenty twenty three it'll be seventy five.
Well, they keep pushing that back. Maybe you won't have to take
them. I doubt that, butyeah, so they're pushing that back,
and that's gonna help you. Howdoes that help you? Well, because
it's a lot easier to do conversionsfrom you know, traditional irase a roth
irase when you're not having to takeyour rmds legally. Once you reach rmdge,

(38:42):
let's just say ten thousand dollars isyour RMD right, and you want
to do a conversion of twenty thousanddollars, Well, You can't just take
twenty thousand dollars out and have itall go to a ROTH. That's illegal.
You have to take ten thousand out, pay that in taxes, and
then you take another ten thousand.You can move that ten thousand by itself
to the ROTH. Whatever your RMDis, whatever that value is. If
it's ten thousand dollars this year,you can't convert that, right, So

(39:05):
you got to take out above andbeyond which your RMD is. So if
you wanted to convert twenty thousand dollarsand you've got ten thousand dollars RMD,
you're not converting the full twenty.You're only converting the extra ten correct,
right, So if you wanted toconvert twenty, you'd actually have to pull
out thirty. So if you're inthat age group that it's gonna get pushed
back to seventy five, that givesyou some extra years to do those conversions

(39:27):
in a more efficient way. That'sone of the positive sides of the RMD
bumping out. So unfortunately, ifyou're turning if you turned seventy two last
year, guess what you're pulling rmds. You better start pulling them out now.
So just be ready for that aswell. One of the things I
didn't say, are they going toincrease the percentage that you have to take
out? You know? I meanthey didn't say that, did they.
I mean they didn't. Are theyresting with the tables? I'll tell you

(39:50):
this. You gotta remember, thisis the legislation they want to tax more
money, So it's legislation. It'snot how it's actually applied. So you're
gonna have to wait for the IR s to kick out. There a
uniform table one for that for allthe tax giks out, so we don't
really know if it's good or badyet. Yeah. I do know that
they reduced your table one because therewas an increase in life expectancy a couple
of years ago. But with theeffects of COVID, they might have actually
pulled that back. I have togo check on that, my little nerd

(40:13):
cave. Hey. One of theones I did like affects me in my
age is that extra ketchup. Imean the extra what do they call it?
Sound like I'm talking about catch upthere. I don't catch up,
you'll catch up contributions for four onecase, and I rage you know they're
moving that up now, Yep,that's gonna go up to eleven thousand,
two hundred and fifty dollars for atotal that's your irase outside of your employer's

(40:34):
sponsored plans. Yeah, that's gonnago up to eleven thousand, two hundred
and fifty dollars a year from peopleat age sixty to sixty three starting in
twenty twenty five. Yeah, that'sout there a little bit. But still,
I mean, you get there,do you catch the maybe at the
very end of that, I onlyget well, maybe one of those you
know, everybody can reverse engine I'mhoping they said it now. Yeah,
they do have a couple other thingsin here, things that you know,
I don't think is the greatest thing. They get the automatic enrollment where they're

(40:57):
gonna force participants into four one case. What's this thing about no rmds on
the raw four one ks? Theydon't take rmds on wrong So I think
that's there. So they can keepthe four one K open even after they
leave the employer for longer, sothey can contribute to it. No,
so well they just happen, No, because you can't contribute once you stop
working, because you need earned incomein order to put into a four oh
one k or any ira. You'drolled the four oh one k to a

(41:19):
rawth ira, you still keep itopen forever. Or you have a row
ira already at the four oh onek and you don't want to leave the
four oh one k planned sponsor,you just want to stay there. Why
would you want to do that?I don't know. If people do limited
limited choices versus moving it and havingall the choices in the world. Why
would you want to drive a golfcart on a one way street? I
don't know. If chases stuff allthe time, habits all the time,

(41:40):
people just ask your local policeman.Don't do that. Don't don't leave your
retirement with an x employer. Howdo people drive with the parking break one?
You can you hear it going downthe street? Yea, Never never
do that. It'll get lost aftera few years. They won't even know
who is that where it's so scaredcame and find that four one k anymore?
When you leave, it's best totake your four in gy with you.

(42:00):
Absolutely take your retirement with you,all right? What about the savings
for emergencies? They got something todo with Yes, that was A pretty
that's an interesting one. So there'sbeen some legal barriers that kind of prevent
employers from having automatic enrolling of theiremployees into emergency savings accounts within the four
oh one case. So this isgoing to remove that essentially, and it's
gonna allow employees to save up thetwenty five hundred dollars in a rainy day
ROTH account per year. I thinkthe employer is gonna be able to set

(42:22):
some lower limits though, just tohelp people out. And that way,
when the employee has to tap somethe free emergencies, they could tap that
free of taxes, and they canremove the ten percent ten percent early withdraw
penalty for taking it out before fiftynine and a half. So that's a
that's a pretty good one in thisone. I do it's probably not gonna
be a tax deductor Mali. Ithink that's gonna be really important for the

(42:43):
people who who are who know whatit is. It's tax free, so
it's not taxeduppable. Yeah, that'swhat I'm saying. So it wouldn't be
able to take the contributions off yourtax of this. I think that's gonna
help four o one. I thinkthat's going to help the people who are
gonna get hurt by this building most. And I know this sounds going to
sound counterintuitive, but I think peopleare gonna get hurt by this the most
are the people who are on thelower incomes side of the scale. And
the reason why it's because they aregoing to enact legislation that creates essentially a

(43:07):
forced savings account where you're going tobe forced to have somewhere between three to
ten percent of your pay put towardsa four H one K. So if
you're somebody who has, you know, lower income and they're income, take
three or ten percent away from youand make you put it into the four
O one K. Well, whodo you think is going to have to
hit their account? Their four oneK accounts most during emergencies, people that

(43:28):
didn't have an emergency fund. Yeah, exactly. So at least this way
you can put you know, there'stwenty five hundred or whatever that shakes out
to be, and so it helpsto reduce that penalty and that hit.
But I just don't like that partof the bill because I think anytime you're
forcing someone into doing something, it'susually not to their Well, all those
younger people out there that want todefer some taxes put money into their four

(43:49):
O one case and they didn't doit. They're not thinking that, hey,
I don't have an emergency fun onthe side right now. When I
put it all in the four oneK, they're not aware they have a
ten percent penalty if they withdraw it, so they get hit with that that
big finale. They think of theirfour one K as a savings account.
Yeah, yeah, it's not.It's a retirement account, right, so
listen, you need to have asavings account then set up your four one

(44:10):
can so you know, all thisstuff is titled as a secure Act,
and to be quite honest, asI read through, it doesn't always make
me feel so secure when they labelthings. It's it's almost like if they
live with the gun drops in Lollipopsact, I'm probably thinking like, it's
gonna be fire and brimstone more thanlikely, you know, But Dad was
actually sharing. You were sharing somethingus earlier that the government did get right,
and it definitely has people feeling unsecure. You want to tell a little

(44:32):
about what's going on with some ofyour a couple of your friends and their
parents. One of the sure thingsthat we're facing right now is people are
living longer. If they're living longer, sooner or later, they're gonna need
some care. And so we're startingto see that right now. So one
of my friends out there, um, their mom and dad just got put
an assisted living center and now they'rehaving to pay this, you know,
four thousand dollars a month times two, that's eight thousand. So they're gonna

(44:55):
have to do some financial planning withmom and dad, probably sell the house.
You know, they're not living inthe house, so they'll probably to
sell the house, use those fundsto carry out for this long term care.
They'll starting assisted living center. Theyboth have all timers now and so
that'll progress into nursing homes, whichwill cost them even more. So this
is something that's facing a lot ofpeople with U and even our clients.

(45:17):
You know, we're starting to seesome of that now, right. We
deal with that all the time though, So you know what's exciting about it
is is if you plan for it, there is a way to handle it
where you're not You don't throw yourmoney away used to be bought like a
long term care policy, put premimsin, prims in if you never use
it, you didn't make any money. Well, now we have these newer
plants, you want to tell themabout it? Yes, I mean they're

(45:37):
just just kind of sharing the story. Is the family, you know,
some family friends of ours anyways.So what's going on is, you know,
as you as you get into thelater ages of life, a lot
of time as you find yourself havingtaken new responsibilities. Like dad said,
you know, some his friends andhis generation, they're starting to have to
have the responsibilities taking care of theirtheir parents, you know, and like
that said, comes comes with expenses. And the question is is you did

(46:00):
your parents prepare for that? Wellsome of them maybe did, and some
of them probably didn't. But attheir end of the day, a lot
of people that's their first that's theirfirst experience with thinking about what you would
have to do to cover long termcare expenses in your later years. And
it is a hockey stick curved typeof learning. It's expensive. It's expensive.

(46:21):
It is emotionally draining, it isphysically draining. I mean, it
takes a toll on people's health.I know some of our family friends that
you can just see some of theirhealth is is just you know, they're
not who they were six seven,eight months ago. This a couple we
were talking about I think she's aboutto stroke out taking care of mom.
I'm it's very stressful. It's verystressful, and like we're trying to get
them to go, yeah, havesome fun with us well there that they

(46:44):
can't because they're stuck. They're stuckevery weekend, all during a week she
calls running here, running there,Mom fell, cathitter's out, you know,
all this subtle stuff. And thenthey're having to figure out, Okay,
well how do I juggle with theirfinances? It's exhaust So how do
you guys help? How does thefinancial plan help with us? Yeah?
So the way that we step intothat, and this is something we do
in some of our financial lab andevery plan we have because our joke is

(47:07):
kind of like our joke is alwaysyou know, the nature of retirement is
bipolar. Right in the beginning,everything has gum drops and love pomps.
Everybody's super happy. They got abucket, lists of where they're gonna go
and what they're gonna see, youknow, what they're gonna do, right,
and we all know that part.But the part that none of us
like to talk about is okay,Well, what about when I get out
of my go go years and myghost some years and I get into my
no go years, right because Ijust can't physically go anymore. What is

(47:30):
that going to be like? Andwhat do I needed to plan for that?
So we actually make that a partof the life cycle of planning retirement,
right, because if we plan forit now, you can have the
best care. You're gonna have thebest lifestyle possible by planning for it.
One of our favorite ways to talkabout that is Dad used to be.
Dad actually used to spend the earlythe late nineties, early two thousands,

(47:53):
he got recruited to go out andtrain advisors like ourselves on how to use
long term care planning, how tomake it part of your practice, and
how to make sure you're doing thebest of your clients by doing it.
And by the end of two thousandand one, two thousand and seven,
two thousand and eight, we shifted, you shifted how we do it.
And used to be you would buythese long term care policies, right,

(48:14):
You pay so much a month,you get so much in benefits a day,
YadA, YadA, YadA, andthey weren't cheat. They're not cheap
or the way you used to doit. I remember is used to used
to use it, and you wouldleverage them. You would add the return
of premium, so if you passedaway without using your benefit, they would
refund a portion, if not allyour premiums, your premium, just your
premiums. And that made it soexpensive. Most people couldn't afford it,

(48:37):
right, but the ones you could, it was a great thing to have
way of not losing your money,right, that's right. And so then
you we're sitting there, we're tryingto figure out a new way to do
it. And well, then along comes life insurance, life insurance.
Body with long term care. Nobodywants life insurance. I'm not buying this
thing to die. You know.This is the best form of long term
care. It's a guaranteed payout.Right, is a couple of life and

(49:00):
along with like long term longevity orincome play any type of annuities, and
you got coverage in two ways.So life insurance is great because what they're
gonna do now is life insurance.Okay, just to be a nerd for
a minute. Long term care insuranceis based on your mobility. Well,
if you get a bad knee,a bad bag, arthritis, stuff like
that. Guess what happens, extrause a cane, you're rated, you

(49:22):
get charged, you may not beable to afford it. It just makes
it I don't know, walker,you can't get it. It makes it
too expensive. But how many timesyou know, and you could have three,
four or five of those problems,how many times can you die?
Yeah? Well that's you know,that's what they say. Now you can
go back to the ballot box andargue about the voting stuff all you want
to, but you're only supposed todie one time, so now you can
get it. Underwriting has change,that's right. So with life insurance though,

(49:44):
since it's underwritten by mortality and deathonce and not mobility, it makes
it more affordable for people who arein their late fifties, mid fifties,
early sixties, and even early seventies. Yeah, and people that couldn't get
it before are now able to getour people who've never thought about before.
But here's what they They're going toallow you to use the death benefit to

(50:04):
pay for long term care. Soif you've got a million dollars policy,
you can use ninety four percent ornine hundred and forty thousand dollars tax free,
tax free to pay for your longterm care. And if you don't
use it all for long term care, guess what they pay it to.
Your family pays out when you die. So either way, either you're getting
paid or somebody's or your long termcare it's getting paid, or the kids
are getting the money, or yourspouse is getting the money. Yeah,

(50:27):
this is this is the way ofplanning and using a specific tool that allows
you to make sure that your familyor yourself is going to use the money.
You're not going to pay for somethingthat you don't get to use or
your family doesn't get to use.It's just a way of being smarter with
how you tackle a problem. Yeah, it's a great way to do your
long term care. So if youdon't have long term care, you've been
thinking about it, or you're takingcare of your mom and dad and you're

(50:49):
like, gosh, what are wegonna do when we get there? Got
to slow down, come in andget some planet on this because it's not
that expensive if you plan early,that's right, and we'll make it part
of your financial lab so we'll wrapinto the home plan, the tax map,
the tax efficiency plan, how toreduce risk and market volatility, and
how to reduce the risk in theeffect of all term care on your life
and retirement. Will do all thatall yet youse to pick up the phone

(51:10):
two two five four six five onezero six five the website Shepherd well Solutions
dot com. We appreciate you towinning us. Hope to see you next
week. Thanks for listening. Planwell to live well. Travis Shepherd is
an investment advisor representative of Retirement WealthAdvisors, Incorporated, an sec registered investment
advisor. Shepherd Wealth Solutions, RetirementWealth Advisors, and w JBO are not
affiliated. Exposure to ideas and financialvehicles discuss should not be considered financial advice

(51:34):
or recommendation to buy or sell anyfinancial vehicle. This information should not be
considered tax or legal advice. Individualsshould consult with a professional specializing in the
fields of tax, legal accounting,or investments regarding the applicability of this information
for their situation. Ask to performanceis not a guarantee of future results.
Any comments regarding safe and secure productsand guaranteed income streams refer only to fixed
insurance products. They do not referin any way to securities or investment advisory
products. Fixed insurance and annuity productguarantees are subject for the claims payability of

(51:57):
the issuing company and are count offeredby our WA