Is Your Income Plan Going To Stand Up?

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!

Episode Transcript

(00:10):
I hope you're enjoying your weekend.We appreciate you joining us here for the
financial lab. My name is Jessica. I am joined by the father and
son duo, David and Travis Shepherdof Shepherd Wealth Solutions. The phone number
we have team members available to takeyour phone call off the air two two
five four to six five one zerosix to five Again, that's two two
five four six five one zero sixfive. The website Shepherd Wealth Solutions dot

(00:34):
Com. Guys, we have somuch to talk about on today's show.
You know, Americans are feeling morepessimistic as more than ever about this economy.
A lot of folks wondering is myincome plan gonna stand up to what's
going on with the volatility. Butwhat's going on with you? Guys?
How are you doing? Doing great? Happy to be back from Europe?
Have great time? How did youmiss me? Jessica? Of course I
did. I'm living vicariously through you. You're out there having fun, you

(00:59):
know, drinking all the good wineand eating all this great food. Travis
and I are holding it down backhere. Well, you know, I
left the brains of the organization here, so yeah, we were in good
shape. So there you got Travisdid very well, didn't burn the place
down. Doors are still open?He did. Great, Yeah, that's
right, that's right. And youknow I got me thinking here we talk

(01:19):
about the doors are still open becausewe were always telling our listeners, looked,
hey, just come in sit downwith David Travis the team, and
let's talk about this. Let's putyour financial lab together. And I kept
thinking, all right, Well,for those maybe new to the show,
what does the financial lab mean tothem? Guys? Yeah, So the
financial labs just like that, youknow, like a science lab like you
hear about every day. You know, you get scientists that are in there
and they're testing out ideas to seehow they work. They're mixing and matching

(01:42):
different ingredients right and U and lookingto see if their hypothesis comes out with
a with a good solution. It'sthe same thing that people are doing at
home when they're thinking about retirement.Right, they got some money here,
they get some money there. They'reputting money weight this way and save money
that way. The problem is theydon't get to test out the see if
it's gonna work or not until areactually in the real world. And then
sometimes it cannot work out the way. You know, it's you, right,

(02:05):
certainly, you got this hypothesis ofthis is how retirement's supposed to be,
and this is how it's supposed towork. And then the reality of
the real world comes in and says, well, your hypothesis is wrong and
it's not working that way. Right. We get this a lot, especially
when it comes to money in taxes. Right, those are two components of
of your financial wife that a lotof people who don't think go together all
the time, and they impact eachother more often. They actually impact each

(02:28):
other more than anything else that's outthere. You know. Market risk comes
and goes, right, you havegood cycles and bad cycles, but taxes
are paid every April fifteenth. Soin the financial lavel we do is we
take all these different components, allthese different ingredients, and we mix them
together for you. So, howdo your taxes work? Okay, let's
take that, put that in there. We're gonna get your income from Okay,
let's take that and put that inthere. How are your investments aligned

(02:50):
with their risk and reward? Okay, let's take that and put that in
there, and then we hit thego button. You know, you like
the Bunsen burner. You fill upthe meekers and you heat it up,
and you see how it works out. And if it comes out with a
good will, great. If itcomes out with a solution where we can
improve it, well, let's gotest and see what strengthens your plan the
most. And sometimes you run intosome that don't work out so well,
you know, but at least inthat case scenario, that worst case scenario,

(03:12):
it's happening inside the lab in acontrolled environment where you still have time
and space and we can go andfix it. Right. It's better to
do it that way than to pullthe trigger and retirement and find out,
you know, a year or fiveyears later, when you lose thirty percent
of your money or your instream isnot covering what it needs to you,
that you have a problem, becausethen at that point in time it might
be a little too little, toolate to fix it. So the lab

(03:34):
is designed for you to take allthe bits and pieces, all the ideas
you've had, put it together ina controlled environment, working with two experts,
and making sure that what you're hopingfor, that hypothesis the way you
want your retirement to be. Youhave a plan to actually execute and make
the ends of reality. You know, I think it's it just relieves pressure.
How many people come in. Yousee, I'm relaxing a lot more
after we have a conversation with themand telling them, well, you can

(03:58):
do a few things different or whatyou're doing is to work or look,
a couple of changes, a coupleof tweaks here and there, and you're
gonna be a okay because you know, Jessica, when you get into retirement
or right before retirement and you're you'reheading into you know, the next year
or two or this year you're goingto retire, it's very stressful for a
lot of people. Absolutely, youknow, how do I create that income?
You know, am I gonna coverthis? This it's gonna last lifetime.

(04:19):
There's a lot and we put allthat to bed. When you come
in and do a financial lab,there are no more questions. Yeah,
I'll share a quick story with youthat we did right that we had happened
right before we left for the firstfriday. We just did um and that
was a couple came in to dotheir financial lab and they were worried about
income. They were worried about continuingtheir income and continuing our lifestyle in retirement.

(04:40):
They didn't know if they had savedenough to spend what they wanted to,
and so we took a look atwhat they're doing, and for the
most part, their plan was prettygood. They were good savers. They've
allocated their money. They had amix of you know, traditional I raise
and four one case, and theyeven had roth money, some tax free
money, which is great. Buttheir question was they wanted to spend about
twenty five thousand dollars a year andtraveling extra on top of all the other

(05:00):
bills. So that's something they wantto do every year because they want to
go and see the things, youknow, do like Dad did on this
river cruise and stuff like that.It could do those big bucket list trips,
but they want to do it whenthey first retire because they don't know
how long they're health will will last. And so what we did is um
as. We talked about, Okay, well do you want that to be
a certainty that you can take thosetrips or do you want that to be

(05:20):
a maybe depending on how must formarket fuels. And they opted for a
certainty, and so we showed themby allocating a very small amount of their
money of their overall assets to ausing annuity. For this, we used
to fix the next annuity. Wedesigned it so that it would pay for
their travel for the next twelve years, so they'd be able to travel all
the way till those seventy two ortwenty five thousand dollars a year twelve years.

(05:42):
A big travel on fun money,big traveling fun money, and we
linked it to an inflationary index.I'm going on vacation with them, That's
what I'm talking about. Put mein the carry on, I'm ready to
go. But but that was thatwas a really good component. You know,
they came in they had like youknow, and in the lab,
they had good ingredients, had agood background. They really had a good
kind of set up already coming in. They just needed one or two little
tweaks, and man, it justit just worked out for him really nicely.

(06:04):
So that was one edition we did. The other one we did was
a risk management. You know,they did not realize how much risk they
really had in their portfolio until weshowed it to them, and so we
took some stuff there to mitigate andreduce that risk as well. You know,
a lot of people starting to seehow much risk they got in their
portfolio looking at what they got nowover the past two three years, wouldn't
you say? Oh? Absolutely.I mean if you own bankstocks, you

(06:27):
just saw the fourteenth largest bank stockget up, which is First Republic,
right, it just went, itjust went. Could put Javing Morgan Chase
build him out? Yeah? NowJavie Morgan Chase owns the fourteenth largest bank,
So all the one follower number fourteen, and I saw all the smaller
banks are starting to declining value totheir socks, starting to see him struggle
struggle, struger struggle. So it'sit's definitely. Ah, it's interesting.
It's kind of like nineteen eighty eightall over again, which Grumpel was here.

(06:47):
You can tell you all about theeighty seven savings a loane crash and
how that fell out. So butit's resolution trusts and all that stuff.
Yeah, it's kind of shaving upto be something similar to that. So
you know, if you don't understandthat or you haven't heard, I mean,
we know this stuff, right,we're the nerds. But if your
advisor whoever's working with you and yourmoney is not talking to you about what's
going on in the banking side,explaining it to you know what, you

(07:09):
understand it, so you know whatthe risk factors are. You need to
come in. You need to talkto somebody who's gonna sit you down and
explain to you any way that youwill understand it. Because this risk is
out there and it's not going away. It sit in a one and done
deal. Right, this risk couldpotentially be systemic and could be rippling out
throughout the financial services industry, especiallyin the banking sector and your small banks

(07:31):
and your regional banks. And abanking crisis also calls a real estate crisis.
Yeah, I mean if you whenthey're not able to get the money
secured, the money for the loansfor real estate, then that causes real
estate value to start propping too.So that's the next thing. It's better
start watching, you know, ifyou have a real estate investment trust,
better keep your eyeballs on it andanything else that you're borrow on money for
for real estate. Now, look, if you're out there and you're listening

(07:53):
to this and you're kind of worriedabout what's going on the banking side,
what's happening in the market, what'sgoing on in real estate. Would I
need to be concerned about, Travis, I'm getting ready to retire right right,
Just retire right right? If youwant to be like that couple we're
talking about, where we secure thatfun money spending and that resonates with you.
That sounds like the things you're worriedabout, or sounds like the places
you want to get to. Youcome into your financial lab. Let us

(08:15):
help you to take those pieces ofyour retirement you have scattered all over the
place, show you how they're workingright now, and if they're not working
the way you want to, let'seducate you and how you can piece those
parts of the puzzle together so theoutcome is what you wanted to be.
Come in, do a financial lab. Let us put the pieces together so
you can relax and distress. Andif you'd like to come in and do

(08:35):
that, we'll do a complimentary forthe first five callers. The financial lab
again two two five four to sixfive one zero six five. Again,
this is putting together the beginning partsof a plan, that income plan,
that tax strategy, giving you thatkind of market protection plan as well showing
you the growth opportunities again, allwithin that financial lab. Two two five
four to six five one zero sixfive the website Shepherd well Solutions dot com.

(09:00):
There was a new survey that foundthat Americans are more pessimistic than ever
about the economy and CNBC Steve Leesmanhe says that the poll numbers are the
worst ever amid persistent inflation, higherinterest rates, and recession worries. Americans
in this survey have never been morenegative about the economy. The CNBC All
America Economic Survey finds a record sixtynine percent of the public has negative views

(09:22):
about the economy, both now andin the future. That's the highest percentage
in the seventeen years we've been doingit. Well, you talk about the
negative views, Travis, you justhit on it. The banks that are
having some missues, market volatility,people not knowing the risk out there,
a possible recession coming our way.Is this time to just sit, you
know, be a sitting duck,or do you take action? It's definitely
not a time to do nothing,like you know what I mean Like,

(09:43):
it's not a time to do nothing. If you do nothing and you're just
a static target, you're the firstone to get shot, you know what
I mean, You're you're a ducksitting on the poet. That's right.
I mean you want you need tobe a moving target at this point,
like you've worked your whole life tobuild up your assets, spare yourself a
retirement. You know, why wouldyou sit there and just do nothing?

(10:05):
Oh, because it's gonna come back, what they're telling me. But where's
they didn't come back from from whereit is here or another ten or twenty
or thirty percent down from here?What two thousand and one? It took
it seven years to come back.That's a long time to sit around waiting
and retirement. Well, the bestpart about two thousand and one, which
is a really interesting reference point forhere, because in O one it was
a growth contraction right from tech stocks, same thing we're kind of seeing right

(10:26):
now. You bottomed out, youpeaked at O one, you boughtom in
OH three. You didn't get backto break even from the O one number
until two thousand and seven. Thenwhat happened next came and crashed again,
and then you didn't get back tobreak even to the O one number and
until you got a two fourteen.So if you're retired during that time,
you don't have any other income,right, that's that's all the money you
got. You're not buying in everytwo weeks and contributing to your four one

(10:48):
king anymore because you're retired. That'sa fourteen years of effectively a zero percent
ray of return. Yeah, couldyou live with that? Fourteen years on
the next thirty years of your lifein retirement. That's almost half the time
in retirement waitment, say that thematching years of a zero return, fourteen
years of just trying to get backto where you were, just trying to
break even. Gosh, look thisstuff is important, Like risk doesn't risk

(11:09):
happen slowly and then all at once. Right, you can't sit there.
Today is not a day to donothing. If you do nothing, don't
expect anything different. Don't expect anythingdifferent than would happen in O eight or
no. One. And the reasonwhy is you didn't do anything. Like
we're not doing anything. You gottaget up, you gotta get motivated,

(11:31):
you gotta get educated, you gotto move. You can't just sit there
and do nothing. It's like themwhat's the old saying, you take the
stairs up, taking the window down, Yeah, the window down, Yeah,
because some take a long hit theground. Risk happens slowly and then
all at once, and once ithappens, well, guess what well should
have could have would have? Right, I should have, could have,
would have wished I'd have done somethingdifferent than I didn't know. Wait,

(11:52):
I wish I'd have came and seeTravis and take it earlier. Yeah,
yeah, I literally got told thatby a couple earlier this week. They
came in and we were doing there, we were doing their lab, and
I showed them a couple of things, you know, I showed them.
I'll share this with you right now, there's three things you don't want to
see moving together, right, ifyou want to be bullish on stocks,
right, you do not want tosee bonds going up, interest rates going

(12:16):
down, and goal going up atthe same time. If you see goal
going up and treasury bonds going upat the same time, and the dollars
going flat to down, that's anew way. Now. That's like the
three wise men all getting together andsaying hey, mister market, and the
bond market essentially is doing this.It's saying, hey, mister stock market,
you kind of overdone it. Youkind of ran too hot, too

(12:37):
hard, And the same thing thebond markets tell Powell you've hiked too much
too fast. You need to takea break. And if you don't take
a break, we will do it. And when the bond market signals that
every time this has happened the lasttwenty three years, that I haven't been
watching it, you know, andthat y'all have taught me this every single
time, it's followed by a recession. So this is definitely not a day

(12:58):
or a time did you nothing,especially if you're trying to retire or stay
retired. So just like a couplethat came in, the reason they said
that we should have came in andsaw you, you know, years ago,
right, The reason they said thatis because we walk them through the
simple risk management process that we doevery single day with every single client in
of our financial lab We walked throughwhat their current portfolio has, what their

(13:22):
expected rates of return are from Wepulled it all the way back to two
thousand and seven, ran it allthe way till today. We shouldn't they
should average a six and a halfpercent rate of return, but their maximum
draw down could be his highest fortyseven percent. Right, Yeah, that's
how I found till didn't it.And so yeah, it's the other.
So that's their maximum draw down.So worst case scenario, they could lose

(13:43):
forty seven percent of their money.Their average RAY return was six and a
half percent, their average risk everysingle year, just like their average A
return was thirteen point four. Everybody'sheard how much money they can make in
the market, right, Yeah,you ever been told that? Fotasica.
First thing most brokers want to talkabout how much they're gonna make You.
If you can do in math tofigure out what your average Y return is,
you can also do the math tofigure out what your average risk is

(14:03):
to get that return. You everheard that number? No, they don't
talk about that too much, doNo, we don't talk about that.
We do, but they don't.If you don't know that number, if
you don't know what your average riskis, how can you prepare for it?
Good point, I ask yourself that. So that's what I share with
this couple. I shared what theirAVERAGEERY return was, what their average risk

(14:24):
is, what their maximum drawdown was, and then we show them how they
can simply realign and use a betterprocess in order to manage the risk as
it unfolds. Essentially, what wedid is the same thing as you using
the traffic app Ways when you drive, I like that good visual. I
mean, seriously, that's as aboutas simple as it gets. Like you're

(14:48):
driving down the road, there's awreck ahead, Ways notifies you and gives
you a yeah options. Hey,that's right. Hey, you can expect
a fifteen minute delay already, canchoose an alternate route and we'll get around
this wreck. It might not beas fast, which you won't be sitting
for fifteen minutes in traffic. Nowyou can choose either go on that route
or you can choose to do whatsit in traffic. But you have to

(15:09):
do something right. So we sharewith them that process. We share with
them that process. We also sharewith them the way to create an income
stream that's reliable, dependable, andsomething they can count on, right,
sustainable income. Their biggest concern andretirement was income. Income income. You
know, we asked one of ourfamous questions, which is ask yourself this,

(15:30):
would you rather have a sustainable incomethat's gonna last you're both your lifetimes
for a couple, right, thatyou need to depend on and we will
grow over time. Are are youmore comfortable just having a really high cash
balance in your in your investment account. Which one's most important to you?
I kind of like both, Yeah, say you love to have both,
But if I can only pick one, it's income and the same thing for

(15:52):
this because next week I get anothercheck. Next week I get another check,
I know what's coming in. Idon't have to worry about what the
market's doing. It up, I'mokay. If it's down, I'm okay.
So that's exactly what this couple said, and the wife said it best.
She goes, well, you know, Travis income investment accounts. Yeah,
yeah, yeah, blah blah blahblah blah. What I hear is
this, we want to have apaycheck in retirement. That's what we want

(16:15):
because for the last forty years we'velived our life with our paycheck. The
paycheck we brought in is the paycheckwe were able to spend YEP. And
so we showed them through the financiallab process how to increase their paycheck for
the rest of their life in retirement, and that gave them the confidence to
be happy, excited, ready togo in retirement. And we can do

(16:36):
that for you too. If thatsounds like you and you're wondering, how
did they do that? How dothey take the savings and create a paycheck.
How do I need to do that? Yeah, you got to come
in for the lab. That's theonly way we can help you and show
you to create an increase that paycheckin retirement. It all begins with that
financial lab. Two two five fourto six five one zero six five.
Again, that's two two five fourto six five one zero six five.

(16:57):
More details about David Travis and theteam, and of course lots of great
documents you can download as well guidesthan such on the website at Shepherd Wealth
Solutions dot com. Guys, howoften are you thinking about going on vacation?
How often is it in your mindevery day? It depends on how
you're talking to both of you,guys. Yeah, I was planning my

(17:18):
next trip over dinner last time.Oh my gosh. Well, then you're
right on track, because there wasa new survey that found that Americans spend
about eighteen minutes a day dreaming aboutbeing on vacation. Adds up to just
over one hundred hours a year.So if they're spending this amount of time
thinking about vacation, how much timewould it take for them to create a
retirement plan? With you so thatevery day could be a vacation day.

(17:44):
Yeah, I like creating that incomein those checks. That's right. Take
a vacation every week, you know, it's it's long weekends. It's pretty
simple, to be honest with you, It probably takes them about If you'd
know how organized you are with yourstatements and your documents and stuff like that,
it would probably take you less thanan hour to pull all your information
together, you know, and thenyou come in and see us. We
probably talk to you for about anhour, hour and a half and we

(18:04):
do the lab. It just takesus three to five business days to turn
out the numbers, and then anotherhour and a half of us and you
can have a bass plan ready togo. It certainly doesn't take one hundred
and nine hours to plan out thefinancial plan. Don't no, no,
no, no dud the plan.I mean it takes time, it takes
effort. But if you're not puttingan effort in, you don't get a
good result. Yeah, and look, here's the thing is, you know,
it's kind of like thinking about itthis way. If you go and

(18:26):
you try to plan your own vacation, it probably does take you one hundred
nine hours but if you hire atravel what do they call it, the
travel travel agent? Travel agent?How fast did they get your plan plans
all figured out? All? Theydo it all the time, right,
Yeah, they do it every day, so they know where all the best
deals are, They know where allthe best things to do, best place,
they know all those things are.So they what they reduced your time

(18:48):
because they already did all the research. They already done this every single day.
So they're a lot faster solving theseproblems than you are because you've got
to go do all the research allover again, right right, that's all
we're able to do these labs soquickly. We can take our expertise,
and not just ours, but ourbest thinkers, right the people who work
with us to do taxes, investmentsand state planning, risk management, all
these pros that we have on ourteam. We use that whole wealth of

(19:10):
knowledge and we tap it for you. Yeah, we take what's going on
with you and we make sure allthose best thinkers are doing the work for
you so that you can be successful. All we need is about an hour
and a half of your time toget to understand and better know you,
so that when we see the numbersand we know what you're looking to do.
We can match the solutions. Wecan match the money with the purpose
and match the tools that can providethe solutions to fulfill those purposes. You

(19:33):
know, that's a great analogy too, because just like a travel agent that
does it all the time and theyknow all the locations and what to do,
your financial enter knows all the toolsand how to hook up the power
tools and get get the job done. So we already know what to do.
They come in. I mean,it didn't take us along the spot
in a plan and fix it.Right. It's gonna say you weigh less
than one hundred and nine hours,that's for sure enough. Yeah, one

(19:55):
percent. If you kind of weighit on the scale, they're a balance
an hour and a half of yourtime. You guys listening today is going
to be able to put a planin place for the next thirty years hour
and a half thirty years, youknow, guys put it in perspective here,
Yeah, I mean, it's it'ssimple. And then after that,
man, once you get the planin place. Here's here's the thing.
Getting the plan in place and properlyplanning is way easier than trying to redo

(20:17):
it every couple of years or so, right, I mean, it's way
simpler. And why do you haveto redo it every couple of years because
it's not working? Because it's notworking. Yeah, So it's something that
works. You know, you dothis and if you want to be like
some of our most passive clients,right, you're probably coming in, you
do your plantation an hour and ahalf to get it up and running,
and then it probably takes thirty fiveto forty five minutes a year coming in
doing it at the minimum the annualreview. Right. But the nice part

(20:41):
about us and the way we workis we do these first Fridays and so
the first Friday of every month wedo the hangouts and clients get to come
and talk to us and ask usquestions about what's going on, Like,
I know, this is the lastone. The questions I got to ask
the most was clients were kind ofexcited to see what's going on with Goal.
You know, Goal took it.It took these is our number one
asset allocation over the last almost threemonths, and so they hey, well

(21:04):
it's always that's right, that's right, what's going on with this? And
so we had a lot of conversationsabout that and that was a lot of
fun. So you know, wedo a lot of different things where you
need to see us a lot moreoften and it's not always so serious.
You know, you've got to spendthat time up front and you gotta do
a good, good job up front, so all that time afterwards is a
lot more relaxed than easy one.And again that phone number two two five

(21:26):
four to six five one zero sixto five. Again for that financial lab
two two five four to six fiveone zero six to five. And Travis,
you were mentioning this the first Fridayhangout. You guys just had to
hear, you know, yesterday theFriday Cinco de Mayo, and you guys
are gonna have more coming up again. We'll release those locations time and we'll
give you guys an ample amount oftime to attend. All you have to
do a show up and you graba drink or you grab a cup of

(21:48):
coffee wherever we happen to be askeda couple of questions, we'll answer it
for you and if you're interested tocome in for an appointment, we'll get
you on the books as well.We'll update the Facebook page for that information,
but you can always, of coursecall as well. Two two five
four six five one zero six five. Again, that's two two five four
six five one zero six five thewebsite shepherd well Solutions dot com. Once

(22:11):
again, Congress is embroiled in abattle over whether to raise the nation's debt
ceiling, that's the amount the governmentcan borrow to honor its spending obligations.
Here's analyst Jill Schlessinger on CBS thismorning. When you think about the debt
ceiling, this is not running upnew debt for something we haven't voted on
Congress. Previous congresses have voted oncertain spending measures. Raising the debt ceiling

(22:36):
pays for the measures that have alreadybeen voted on. So this has become
this strange way of saying, wedon't like the amount of money going out
for Social Security or whatever program youcare. Don't care. It was already
agreed upon. It was already agreedupon, which makes people like me nuts.
Now listen, I'm with her,guys, what are your thoughts?
Yeah, well, they throw thatout there to scare people, But there's

(22:57):
a lot of things that the debts. They're like, we're not gonna pay
our bills, We're gonna pay themilitary, we're gonna pay self security.
What else do we pay drafts?Is they can't control that those checks go
out automatically. It's uh, it'salmost like seventy four percent of spending is
already mandatory spending. It goes outautomatically. They're only controlling twenty five percent

(23:17):
of that budget. Yeah, that'sactually yeah, you're probably closer to that.
It's probably less than it's probably somethirty percent. Yeah, is something
that they could actually you know,if they ran out money, they wouldn't
be able to cover. Yeah,they might shut down the government. Wouldn't
that be a good thing? Wethink about last time, like, look,
they do this every time, allright, it just becomes it's at
this point it becomes bread and circuses. So you know last time, last

(23:37):
Toby, this is what twenty fourteen, they brought it right down to the
end of the wire at four am, and then boom, they funded it.
You know, everybody who got furloughedgot their paid plus back pay.
Um. You know it just I'mnot trying to make light of this.
You still need to solve the debtprominent and look, I would absolutely disagree
with this Joe lady, whoever sheis, because yeah, maybe it was
agreed on him by other Congresses.But that's the whole thing about congresses.
It changes, right, That's that'spart of the reason. However, at

(24:03):
the same time, you know what, we probably shouldn't be running so much,
so much on the on the governmentcredit card that we can't make the
payments. We have to figure outhow to refinance our house to pay off
the credit card every couple of years. That's a that's a pretty bad way
to run a household. It's areally bad way to run run a government.
Unfortunately, they just print more money. Man. But you know,
we can't control that as far asthis on this radio show. You can

(24:25):
control who you vote for. Sojust remember those things, right. But
here's what I would tell you.Here's how it's going to affect you.
It's gonna cause market volatility, yep, it is. There's nothing the stock
market well likes less than uncertainty.When you start talking about a government shut
down, our technical default on thedebts, or you know, hikes and
cuts to government spending, well that'san issue. I mean, think of

(24:47):
it this way. The in theGDP the gross domestic product. We just
we just kicked out right, thatwas lower than we thought it was going
to be. Eight percent of itwas government spending. Eight percent of the
economy was government spending. So ifyou're if you're out there and you're thinking
this is an issue to maybe,yeah, it probably is an issue,
and it probably something you should youshould be concerned about, and it's definitely
something that you need to know whatto do with. The only thing is

(25:10):
I can't tell you what to dobecause I don't know what you got.
I don't know how you're invested.I don't know what your plan is for
income. Oh, we know whatto do, it's we know what to
do. Yeah, we just don'tknow what you have in order to tell
you what to do. All right, you know we can help you do
that though. You come and doyour financial lab we'll lay it all on
the table. We'll show you whatyou got, we'll show you how this
gets impacted by the debt crisis,and we'll show you the steps you can

(25:32):
take today to prevent yourself from goingthrough the rigamaroau with all the crazy politicians
up in the DC show and mostimportantly had an outrun out of money in
retirement. That right there is numberone with that financial lab absolutely for two
two five four to six five,one zero six five. Again, that's
two two five, four to sixfive one zero six five. The website

(25:52):
Shepherd wealth Solutions dot Com. Comingup next, a comedian was asked if
she's ready to retire find out whoit is after the break getting Uncle Sam
and Wall Street out of your pocket, Let's get back to the financial Lab
with David and Travis Shepherd. Weappreciate you joining us here for the financial
Lab. The phone number you havequestions, thoughts, concerns. You finally
are taking time to meet with bothDavid and Travis call right now. Two

(26:15):
two five four six five one zerosix five two two five four to six
five one zero six five. Thewebsite lots of great resources there as well.
You can also make an appointment onlineShepherd wealth Solutions dot com. Guys,
there's a new poll that shows manyAmericans are hoping for the best when
it comes to having enough money forretirement. It found sixty four percent of

(26:38):
retirees don't feel like they've saved enoughto get them through, and more than
half expect to take on a parttime job to make ends meet at some
point, So have you had clientscome in with this attitude only to find
out after you guys put together thatfinancial lab that you know, working part
time could most likely be a choicenot a necessity. You know, Jess

(26:59):
Can we work with a lot ofpeople, but we see a lot of
portfolios and we do see a lotof nervous people. And the people that
are nervous it's because they got aproblem they don't know how to fix it.
And you know, Travis says thisall the time. Hope is not
what a risk and at strategy it'sa very bad one. If you're live
in on the hope, you needto come in here and see us right
away, don't hesitate, pick upthat phone a call. But there's lots

(27:19):
of things you can do, andhaving the right tool to meet the job,
that's where it begins. I mean, that's you know, you use
a skill skill solve for certain things, but you don't use it to drill
in a screw. Then you've gota power screw driver. You also have
a drill power drill to make thatjob a little easier. I mean,
there's lots of tools to do differentthings with money, and you're not the

(27:41):
professional. You don't you don't knowall the tools. So let's get in
here and let's start learning more aboutthe right tools to do certain jobs.
There's different tools for income, there'sdifferent tools for growth. There's different tools
to play defense, there's different toolsfor offense. I mean, how many
tools do you know how to use? Let's get in here and learn how
to use all the tools. We'vegot a very large tool by you know,
I got a little girl in firstgrade. I got a little girl

(28:02):
in kindergarten, and you know,one of the big differences between kindergarten first
grade the number of crayons in thebox. I was like, I don't
know, Like, and you're akindergard you get the eight pack of crayons,
and that's your max. You knowwhat I mean, unless you're accelerated
kindergarten you get a pack at twelve. You know, by the time of
your first grade there's like a packof sixty four, one hundred and twenty
eight. You know your level.And that's It's true. It's funny,

(28:25):
but it's true. Like there's acertain level of nuance in those things.
I mean, how many colors areblack? Can you really have? How
many colors are pink? Can youreally have? Right? You can have
tons? Well, listen, andwhen it comes to tools, any man
that I know, to me,all the screw drivers were the same,
but for some reason they need tendifferent kinds. They need this kind of
drill. I mean, that's whyhome Depot has ninety million different versions of
the same thing. Yeah, you'resmart, It's true. I mean because

(28:48):
when you get down as you're asas ture evolved as your problems evolved.
Right in this case, you're coloringtechnique involved where you're staying in the lines,
right, then you start worrying aboutokay, well, which color pastel
did I choose? And which colorblue do I need? Is it pink
or is it fo fuchia? Youknow, I mean, which one do
I really want to use? That? That's that that discerning part, that

(29:11):
that curated part of planning that youcan do once you understand all the different
tools. And here's the crazy partis there's a lot of times where you
can take a financial tool and ithas a very conventional way of being used,
and you can get even more outof that tool by using an unconventional
way that people haven't thought about.Like we do that all the time with
things Like one of my favorite storiesis when we flooded and my good buddy

(29:33):
from New Orleans came up and hetaught me how to use our circular sault
in order to finish gun in thehouse and record speed in a different way
than You've never used a tool I'veused one hundred thousand times, and it
never, ever, ever, wouldI've ever thought to use this tool this
way until and say said, oh, great, you got a circular sault
and you got a chocolate He saidyeah, he said great, Well,
I'm gonna bring you sheet rock andI'll be there in forty eight hours.

(29:55):
I'm like, Dug, I gottaget my whole house, Like, no,
this is not gonna happen. No, No, you'll be fine.
You'll be fine. It So,sure enough, less than forty hours later,
Doug shows up. It's like theday after next and he is there.
Of course, he's there like fiveo'clock. I get there five fifteen,
you know, so I'm already lateand walking and he's just sitting there.
He already went in the house.He looks at me and goes Travis.
I'm not mad. I'm just disappointed. I thought you would be ready.

(30:18):
I told you i'd be here.You're not. You're not You're not
ready. What's going on? Yeah, and a half the house covered with
sheet rocks. I got way morethan half the house. Man, I
got like maybe one room done atthat best. And um anyways, he
comes, he says, uh,so tell you what, Travis, go,
uh go grab your sault. SoI grab my saul. He said,
while you're in there, grab apiece of that sheet rocks on the
four two. So I grab asheet rock and I came back and he
said, Okay, why did younot use your saul on your sheet rock?

(30:38):
He's I said, duck, becauseit's sheet rock. You don't use
a circular saul. And he's itfor wood and stuff like that. You
know, like that's my level ofunderstanding. He's okay, turn this all
upside down. You see that thingthat's called a guard. I'm like,
yes, Doug, I know whata guard is. You know. He
says, flip the switch. Flipthe switch, take the piece of sheet
rock, put it under the guard, and put it to where the blade
is just below the edge of thesheet rocket and lock that guard into place.

(31:00):
So I did that. He saygreat, and I go run around
the house with it. So Idid that, and sure enough, guess
what happened. Forty minutes later,I was basically done got in my house.
When I was taking most people afew days to do that, I
didn't mind a box cutter exactly.That's how everybody didn't. Nobody knew to
do that, right, but Dougdid. Doug showed me. When he
showed me, guess what we did. We knocked out two other houses on

(31:21):
our street. The next day weknock two or three more houses out on
our streets. So I mean thatlittle subtle thing that he showed me with
a tool that I thought I knewhow to use, changed our whole Outlook.
That's a good analogy because I havenever thought of that either. But
I do that every day. Butusing a tool like that, what a
powerhouse tool. We do that everyday with different financial tools of ways that
people would never know how to usethem until we're exactly right. But once

(31:44):
we show, it's like turn alight bulbing on in the room. All
of a sudden, you can seehow everything's laid out. How many times
people told us, God, Ididn't know I could do that lots lots
a couple of times a week.Yeah, But it's about learning the tools
that are in your toolbox. Andlisten if you're if you're tuning in today
and you're going, I think mytoolbox is one K and my pension and
I don't know, maybe some savings, but I don't really know how to
apply the tools to build this retirementplan that I'm I have in my head.

(32:07):
That's where David and Travis come in. Allow them to be your architects
for building that retirement that you've alwaysdreamed of. This is how easy it
is. Guys, come in todayfor that financial lab and put everything down
in black and white. Get agood understanding of where you are, where
you need to beat, and howto get there two two five four to
six five one zero six five twotwo five four to six five one zero

(32:28):
six five the website of course,Shepherd Wealth Solutions dot Com. On top
of wondering if you've saved enough now, the next question is, well,
at what age do you think you'llretire? Here's what Actor and comedian Wanda
Sykes, who's fifty nine by theway, who recently was on the Sherry
Shepherd Show. Your wife Alex hasbeen asking you about retirement. Yeah,
you planning on doing it? No, I keep telling her you don't tease

(32:50):
France and Europeans. All they dois talk about retirement, you know,
That's all she does, talk aboutretirements. So she's like, when are
we going to retire? Baby?I'm like, I don't retire not.
They show us the door right rightwhen the stars ringing, you go,
I guess I'm retired right now.But then when you get late eighty to
focus start ringing again, right.I mean she's right. Look at Betty

(33:13):
White worked until she was like ninetynine or something ridiculous, and she's right
about the other part two is thatyou know, over in Europe they are
much more focused on like enjoying lifeand not working ourselves to death. You
know, here in America it's justhow fast can you go? How much
money can you make? But Imean, seriously, this is a question
that you have to address with folks. Is okay, when do you want

(33:34):
to retire? And can you retire? Do you need a part time job?
How do you guys navigate this conversation? You know, it's it's a
it's a conversation we have often.I mean, especially what nearly everybody that
hasn't retired that wants to keep workingat some point, I mean, when
do you know when you're ready toretire? Well, financially you'll know,
but I will help you get there. But it's like like some of my

(33:54):
friends, I mean they're at thetop of the food chain. It's like,
you know, why retire? Youknow? Yeah, you give me
a lot ability there And if it'snot, you know, I'm not stressed
out. I'll tell how we doit. This is how we do it,
all right, here's a secret sauce. It's a Thousand Islands dressing.
No really, are I think ofa big max you know? Alright?
So but here it is is youknow you can retire. The way to

(34:16):
think about this is simply retire whenyou want to. Don't get stuck into
having retire when you have to,right because if you're retiring when you want
to, that means you have theability to walk away when you're ready,
so you can enjoy doing what you'redoing. If you're stuck there because you're
going to have to retire at acertain point, or you have to keep

(34:37):
working. You don't have the financialfreedom. You know, you don't have
the leverage anymore. That's what wework so hard for doing these labs and
do these plans to provide people witha financial freedom and confidence and if they
want to keep working, great,do it. It's not affecting your life
or your lifestyle. It's not gettingaway the things you want to do when
you have the time and the healthand the mobility and ability to so keep

(35:00):
doing it. I mean, hey, I like, you know, you're
working, you're earning, You're earningsome money that's other people's money. You
can spend one traveling and not yourown money, right, all right,
I'd like to put them in aposition where they have a stress free choice.
Yes, right, But you'll know, most of our clients tell us
and you know, you get toa point when you know you're when you're
ready. Yeah, you know,it's like you know, I don't I
just don't want to go to workanymore. I'll share a story with you.

(35:21):
Had a couple come in last weekor week before last maybe and husband
wife come in and they're talking aboutit. Now the husband is he's a
worker, like he if he's notworking for somebody else. He's going to
work at the house. And ifI can't find a honeydo list big enough,
he will go get scissors and ina ruler and cut the grass.
Oh my God, send them tomy house. Right, That's what I
said, Like he's a worker.He was telling about how when they built
their house, he literally shoveled dougthe driveway. And I want to say,

(35:45):
his driveway is like thirty five fortyyard drive so struggle dug it out
with a shovel. I was like, man, I would have died,
Like, no way. So,um, his wife. His wife has
a really great job and she reallylikes it, but there's changes going on
and those changes are causing a hugestress load on her side. And right
now her bandwidth is really getting depletedand she's not able to spend the time

(36:07):
with her family, her church,her parents are aging, and so she's
just being pulled in a lot ofdirections. And you know, work is
great, but works not the mostimportant thing. And so their question came
down to if she wanted to,could she walk away? And they would
be okay, whether he works orhe stops working. And that's what their
labs working on and right now it'slooking like they could do it. If

(36:29):
they want to walk and she wantsto walk, they could do it whether
he works or doesn't work. Andwe're gonna be sharing those results with them
next week. But that's really theirbig question, you know. And they've
done a great job in saving andthey're not, you know, crazy spenders,
and you know, they're just normalpeople. Like you run into them,
you wouldn't imagine how much they've savedor where they are. They just
seem like normal people. But thenit's like normal people, they have doubts

(36:52):
and concerns and their second guests inthemselves on what they want to do,
and they just need somebody to runthe numbers and explain to them in a
simple, easy way to understand thatthey have enough money in order to create
an income that's going to last therest of their lives and they won't have
to worry about running out of moneybefore they run out of time. And
that's what the labs designed to doto help you through that decision making process.

(37:14):
So if you're out there and you'rewondering how to make that decision and
you don't have a process, areyou're working with somebody and you don't feel
like they have a thorough enough processto help you feel comfortable in the decision.
Come get a second opinion. Arecome, Come walk through our process
for the first time and go homeand think about it and figure out it's
right for you and your family.You got two type of workers out there

(37:34):
once they get to retirement age,right, those that are working because they
want to and those that are workingbecause they have to, that's right.
And those that are working because theywant to. Those are easy people to
be around. Those that are workingbecause they have to, not much.
I'm gonna say there might be alittle grumping, but either way. The
way to find out you need tokeep working, do you need that second
job or that part time job inretirement, is you come and you sit
down with David and Travis one onone for the financial lab. It's complimentary.

(37:58):
The hardest part is that you haveto put it in your phone right
now that you're most likely looking atscrolling and call and say, guys,
let's have a phone appointment or let'slet me come in the office and see
what the deal is. Two twofive four to six five one zero six
five two two five four to sixfive, one zero six five. The
website Of course, Shepherd Wealth Solutionsdot com. Does order count when withdrawing

(38:19):
money for retirement funds. We're gonnaexplain. Stick with us, We'll be
right back. We all look forwardto retirement, but most of us also
share the same fear running out ofmoney. David and Travis Shepherd of Shepherd
Wealth Solutions. It can help youretire with confidence using strategies to help you
generate income during your retirement years.Called David and Travis today two two five

(38:40):
four six five ten sixty five.That's two two five four six five ten
sixty five. Or go to ShepherdWealth Solutions dot com. Want to retire
with confidence? Get more Shepherd wealthSolutions dot com. Now let's get back
to the show. You are listeningto the financial lab what David and Travis
Shepherd. My name is Jessica.The phone number two two five four six

(39:01):
five one zero six five two twofive four six five one zero six five.
The website Shepherd well Solutions dot com. Did you know that the order
in which you eat your food mightimpact your health? I know it's crazy.
This is TikToker Justin and he explainsthe concept So I've got several different

(39:22):
types of food here. First oneis broccoli, which is high in fiber.
Then there's avocado, which is veryhigh in fat, tuna which is
high in protein, and rice,which is a simple starch. So the
idea with this food order method isto eat the fibers, fats, and
proteins first, and that should helpto slow down the digestion of these simple
cards. And from what I've beenreading online, this method can actually reduce

(39:43):
a blood sugar spike by as muchas seventy five percent. Okay, I
mean, I guess good for him, But it's all going to the same
place, David, what do youthink. I don't I'm not gonna sit
there and look at my plate andbe like, well, green beans chicken.
I don't know. I'm from thatold school man. You want to
lose weight, get exercise there,you go exactly right, control what you
bring in the body, because youwon't have to burn it off. You're
exact, get it out right,you're exactly right. Yeah, kind of

(40:05):
old school away to doing it.Old school. While we consume that thought,
I guess, I mean it remindsme of something though I know we've
talked about before withdrawals from a retirementplan. I know there's a certain order
that you have to do it in. So can you kind of run down
what we have to do? Yeah, I mean there is an order to
it, and if you don't knowthe order, you're gonna lose a lot
of money. So you know,depending on your income level and where you're
at with your tax structure. Imean, that's why you need a tax

(40:28):
advisor because you know, as youif you're doing wroth conversions, you're in
a very high income while you're incometax level while you're doing these wroths,
or you're at a higher income levelif you're spreading out the conversion over a
period of time. So if you'rein a higher tax bracket that year,
you want to take income from theleast tax position of your money, and

(40:50):
that could be from maybe take morecapital gains. Is there tax different from
ordinary income and things of that nature. That's where you go for lowering your
taxes once you get into a highertax bracket. Some of that could have
been a selective higher tax bracket.So your advisor, if he's a financial
advisor, should also be talking aboutwhere your income should come from. If

(41:12):
you're doing some conversions because it's veryvery important, especially now with the Medicare
taxing. You are Medicare Part Bis related to the cost is related to
how much income you're reporting on yourincome tax I mean, there's a lot
to it on where to take themoney to reduce taxes, have an income
plan to reduce your taxes, andwhere do you take that income from will
determine how much taxes you pay onit? Right? Makes sense? Yeah,

(41:36):
I mean there's a there's a rhymeand a reason for everything, and
there's a process to everything. Andyou're taking money and saving money, there's
a process to how you do it, and you know, make sure you're
doing it the right way at theright time. Because of nil as you're
talking about here, you might bepaying Uncle Sam a big chunk. Yeah,
and there's a lot of different waysUncle Sam collects it too, So
be careful with that and make sureyou're talking to the right advisor and he's
looking at your Medicare costs you're Imean, if you're on or sixty five

(42:00):
and you're retired, you're playing MedicarePart B premiums and it's related to your
income and those premiums can get prettyhigh. We're five hundred dollars a month,
so be very careful with your conversions, you know, and pull an
income extra income from where you're goingto take it from. Kid, Do
I have a position I can takeit that's not tax the same as ordinary
income? Perhaps you do. Sowe do all that. That's part of

(42:21):
our financial lep. If we're goingto do some conversions, we're looking at,
Okay, how we're going to producethe income while we're doing these conversions.
How can we get that money moretax efficient? You take it from
an older Wroth zero tax there onthose income streams. It reminds me of
a client we saw a couple ofweeks ago and we were talking about income
and taxes and how to reduce thetaxes on his income. And it came

(42:45):
to a position where we wanted tostart reducing his taxes for the future because
we feel taxes are going to goup, so we were starting to plan
Wroth conversions. Well, when we'redoing these Wroth conversions, it was going
to make his income get to acertain level that raises taxes. But we're
only going to do it over atwo year period. So during this two
year period, we are going tobe moving ourselves into a little bit higher

(43:07):
tax braket and we didn't want toadd to the tax bracket. So he
had some previous raw the deposits thathe had made, and we decided to
take the income stream from the rosswhile we're converting more Ira money into another
row. So that and then wehad a little surplus that we needed to
cover, and we took that withsome capital gains which are taxed differently than

(43:28):
ordinary income, and a much lowertax bracket. So not only did we
do the future planning to increase hisincome to reduce taxes was also part of
his plan. And you know,the guy was very very happy with our
planning because we didn't forget about theMedicare premium too, and how are we
going to get that back down oncewe convert the two year plan, we're

(43:51):
going to reduce that Medicare Part Bpremium with IRMA. So, I mean,
it was it was very happy.He said. His other advisor never
talked to him about that. Yeah, you guys, hear that a lot.
You know, how come so andso never told me this or no
one ever brought this to my attention. You guys hear this all the time.
Yeah, I didn't know that.Where's that coming from? Why are
we looking at that? Well,here's the reason, here's the reason,
right exactly, finding the reason,getting those questions answered, and again,

(44:14):
being tax efficient is so important bothin the working world and even more important
maybe in when you're retired, havingthat tax plan in place. We've talked
about it before. Twenty twenty sixis where the tax trump Code is going
to sunset, meaning things are goingto change. Biden's area. You talking
about the rate increases, So staytuned for that. Will keep you updated
in the meantime, if you wantto commend for that tax lab two two
five four six five one zero sixfive two two five four to six five

(44:38):
one zero six five. You know, David, I ran across a list
of some surprising retirement facts that youprobably didn't know. I want to run
down a couple of them, andyou tell me what you're what you think?
Okay, all right? Social Securitywon't cover all your expenses? Is
that true? Is it? Falts? Yeah? I would think that for

(44:58):
most people, you know, eventhough we had an eight percent increase,
it's tough to live on. Souls, scurity, alone. And then how
about this, Not only will itwon't cover all your expenses, but they
want to tax it too. Ofcourse, I do. You know there's
three different taxes on sol scurity.If you're at a certain income levels,
say a married couple below thirty fourthousand, they don't tax your soul security,
but you got to pay taxes onsole security income. If your income

(45:21):
level it's above thirty four thousand.So then if it gets to forty four
thousand, well, instead of payingfifty percent of your soul security is taxable
income, now it's eighty five percentof soles scurity becomes taxable income. And
then you know, probably by twentytwenty six or twenty twenty eight, they'll
probably say, you know what,let's add another bracket for souls scurity taxation.

(45:42):
Let's make it one hundred percent taxable. So I would expect that to
be right around a bend. Sodoing some planning on that, how to
reduce your income to get below thesoul security taxation, Well, it certainly
wouldn't make your money stretch a lotfurther, and it is possible, but
you got to know how to doit. Yeah, I mean social security.
It sounds simple, right, youturn you know the age you take
the money, Well, what ifyou waited, you can get that eight
percent increase over the years. Andyou have to also know how A factors

(46:05):
into your other finances. Again,that's something that you map out when you
do that financial lab Another surprising retirementfact here on the list that seniors live
alone. I was kind of goingthrough this. It says nearly one in
three seniors who weren't in a nursinghome lived alone, and older women almost
twice as likely as men to livealone. I mean, that's a staggering
statistic. You know, it's true. I see that all the time.

(46:29):
You know what happened to the communityliving. What's that? The Golden Girls?
Yeah? The Golden Girls. Yeah, we should all have that opportunity
when we get older. Yeah.The daughter of friend who I was in
the Golden Girls, grandma the daughter, I think, yeah, it was
the grandma and then the three friends. Yeah yeah. So um, not
that I tell my clients to dothis, but I mean if it was
me and I was older and zingleand have five rooms, I think I'd

(46:52):
get a couple of roommates. I'msaying. Everybody moving, Yeah, yeah,
exact. I want to make sureI have the assets and the income
to well. It aren't to beall paid for anyway. So well that's
the thing though, I mean,you talk about seniors living alone, maybe
they live in alone in an assistantliving place, or maybe they have to
have some help with daily task.These are all things that you have to
account for when you're planning for retirement. It's not free, so the money's

(47:15):
got to be somewhere. Yeah,But nearly one in two women over at
age seventy five or living alone.Yep. Ye, Well women outlive men
anyways, right, yes, wedo. Did you know that whoever lives
the longest lives on the least eightyfive percent of the time. And why
is that? Because in retirement usuallysomebody has an occurrence and they go into
a situation where they spend down moneyon that person medical reasons, whether it's

(47:39):
a long term care or assistant livingor whatever. It might be home care.
But the person who lives the longest, that's the person who's going to
have the biggest problem because you willspend down all your money taking care of
that individual. And in our experience, the top three things that bankrupt retirees.
You want to know what they are? Tell me Number one, a

(48:00):
child on drugs. People will spenda fortune to help that child out.
They will spend it all of course. Yeah. Second is a long term
care situation. And guess what numberthree is college students divorce. Yeah,
that kills them all, kills themoff quick. Very expensive divorce. Yeah

(48:22):
yeah, divorce is not cheap.And that's another issue here on the on
the list is that retirees. Itcould be playing off student loans. Yeah
well, I mean, gosh,you must have gone back to school late.
Huh. You know, how wouldall of a sudden you start stacking
up all these all these debts,you know, trying to help your kids
or maybe even your grandkids. Butthat's also something that you guys can help
with if if someone comes in andgoes, hey, I want to set

(48:43):
some money aside for each of mygrandkids to go to college. I mean,
you know again, sitting down forthe financial lab is more than just
and am I going to be ableto pay my bills every month? It's
talking about all those things. Ididn't think of it that way. I
was thinking about, you know,um, maybe I went back to school
and paying off my uh, youknow, college education or maybe so how
long does they take you? Becauseyou know college education, they never forget
this student debt loan. It's thereforever. You can't go bankrupt either with

(49:06):
it. So yeah, you know, we've had well maybe one or two
in the last five years have helpedtheir kids, but most of them have
their debt paid for on the collegeeducation. But they all want to set
up the grand child fund, rightof course, And we do that all
the time for people. Yeah,I mean again, I know that talking
about your money and your finances canbe stressful and overwhelming, but it's something
that we all have to do.You have to make it a priority,

(49:29):
just as much as you make youknow, going to the gym or taking
that trip a priority. And youknow, David, you've been doing this
for decades. You've seen people comein when the market's been great, when
it hasn't been great, when we'veseen high inflation, taxes, basically you
name it. So for those thatcome in for that first time meeting,
kind of paint the picture for me, what should I expect out of that
first time meeting? Well, youknow, what we're here is to help

(49:50):
people distress people. And there's alot of things that we're going to show
you, but really we're trying tofind out, you know, where are
the holes in what you're doing.You know, you know what you know,
but what you don't don't know iswhat you don't know sort of speak.
So we take all the information.We try to get this statements,
what you're doing, what your goalsare, what is the purpose for certain
types of money. We help youidentify that, and then we want to

(50:10):
find the power tools that are goingto accomplish your goal twice as easy,
twice as fast, and make yourmoney last as long as you live.
And it sounds kind of easy,but it's not because most people don't know
what the tools are and what's availableand what this tool is specialty designed to
do. And this other tools hasanother specialty and it's designed to maybe accumulate
money more safely, or this oneis more risk but it accumulates twice as

(50:32):
fast. I mean, there's alot of different ways we can solve problems,
but you know, really, whenit comes down to retirement, of
course, it's all about securing theincome, first income income income, and
then it's about growing money and makingyou know, you know, how about
money for the leisure travel, youknow, austicate money towards that because make
some fun money in there. Everybodylikes to have a trip every now in

(50:54):
the end, so there's a lotto it. And you're right, I
mean that's what we do. Wedo this all the time. If you
want to commend for that financial planand talk about income income, income,
and making sure that that retirement planis going to get you too and through
retirement. The financial lab is whereyou start putting all the pieces together.
Two two five four six five tensixty five again two two five four to

(51:15):
six five ten sixty five. Thewebsite Shepherd Wealth Solutions dot com. We
appreciate you joining us, have agreat rest of the weekend, and of
course we'll see you next week.Then remember plan well to live well.
Travis Shepherd is an investment advisor representativeof Retirement Wealth Advisors, Incorporated, an
SEC registered investment advisor. Shepherd WealthSolutions, Retirement Wealth Advisors and WJBO are
not affiliated. Exposure to ideas andfinancial vehicles discussed should not be considered financial

(51:37):
advice or recommendation to buy or sellany financial vehicle. This information should not
be considered tax or legal advice.Individuals should consult with a professional specializing in
the fields of tax, legal accounting, or investments regarding the applicability of this
information for their situation. Past performanceis now a guarantee of future results.
Any comments regarding safe and secure productsand guaranteed income streams, or if only
to fixed insurance products, they donot refer in any way to securities or
investment advice free products, Fixed insuranceand a nuity product guarantees are subject for

(51:58):
the claims payability of the issuing companyand our offered by r WA