Replacing Your Paycheck In Your Retirement

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):
Hope you're enjoying your day. Wedo appreciate you joining us. My name
is Jessica and I'm here with thefather and son team David and Travis Shepherd
for the financial lab of course,the website Shepherd wealth Solutions dot Com.
The phone number two two five foursix five ten sixty five two two five
four six five ten sixty five.Loss to talk about, of course on

(00:30):
today's show, taxes, how totake that surprise out of the equation when
it comes to planning for your retirement, and of course the big question here,
how do you replace that paycheck inretirement? Before we get to that,
of course, David Travis, howare you guys doing? What's going
on? Doing good? Doing good? Tired of dodging rain drops over here,
but you know we're doing great,yeah, good, doing good.
All the girls are out of schoolon Tuesday, so it's full blown summer

(00:53):
mode. We are going to graduationafter graduation party with all these yea,
yeah, same. I've been doingthe same and eating too much, drink
too much, doing all the stuff. But it's it's a great time for
all these young people to be goingon to the next chapter. Whether that's
you know, first grade, secondgrade, or college or high school.
And it's cool to see everybody kindof you know, change and evolve,
you know evolution. You know,we all have these stages in our life,
right, even in retirement's got stagesas you got to go go years,

(01:15):
you got to somewhat go go years, you got to stay at home
years, and got a few sadyears. Yeah, right exactly. And
of course they talking about the stagesof life, and you know, going
into that retirement phase of your lifeis a completely new chapter. Things are
different, but you need to makesure that you are planning for that.
Right. This isn't something you justkind of wake up and go, well,
I hope I did enough. Ifyou have that hope and you know,

(01:36):
winging a prayer plan, good luckto you. But I don't think
it'll work out. That's why weput together the very simple financial lab And
I'll let Travis kind of talk aboutthat and just a few moments, but
I did want to remind our listeners. You guys have an event coming up
on May twenty third and the twentyfifth at Portobello's. Tell me about this
and of course how our listeners canattend. Yeah, it's gonna be so
this this event is designed to tryto help you get retirement right. You

(01:57):
know, you need to know howto how much risk you got, how
to create income stream, and howto pay less in taxes right, So
get retirement right. And that's it'sreally going to focus on how to minimize
your risk, create income stream andyou can depend on and live on a
retirement, and then how to reducetaxes along the way. Seats too full
of fast. It is complimentary toattend. You're gonna learn a lot,
guys. You're gonna need some greatfood of course as well. But the
whole point is for you to takeaway a little bit of education and go,

(02:20):
you know what. Okay, Andnow I'm ready to have this conversation
with Travis and David and the teamat Shepperdwell's Solutions. Again, like I
said, it is complimentary. Seatsare filling up fast. You must call
an rs VP two two five fourto six five one zero six five again
two two five four to six fiveone zero six five. And talking about
taxes here, it leads me intomy first question because there was a survey

(02:40):
a few years ago that it analyzedhow people spend their money in retirement get
the usual suspects of their food,utilities, cars, travel, But the
number one expense was thirty one centsout of every dollar went to taxes.
It was also the biggest surprise topeople in retirement. So guys, how
can your tax lab help take thissurprise out of the equation? Yeah,

(03:01):
that's one of the most important partsof our tax lab. You know,
it's the more tax efficient planning onyour retirement income because not about how much
you take home, it's how muchyou get to spend to me. Yeah,
I mean, it's really important.And we just did a tax lab
for a lady this week and lookingat she was going to be expecting to
pay two hundred and eighty four thousandsome odd dollars over her lifetime and taxes

(03:22):
just on her IRA money. Andif she did the rostin versions over the
next three years, we could reduceit down down one hundred and seventy four
thousand dollars. So it saves hereabout one hundred thousand dollars and taxes of
her lifetime. You know what.This kind of reminds me of trial.
So I was thinking of a storyof a couple of clients we see so
many of them. But I rememberthis couple that came in and they had
they did not want to talk abouttaxes. They wanted to talk to see

(03:42):
if you remember this couple. Theywanted to talk about taking They had a
good bit of money in there,four one k. They wanted to start
pulling lumpsums out, paying off theirpay off, the house, pay off,
the boat pay off, the truckpay off, the rebuild a kitchen.
And we started adding it up andI said, what taxes? She
goes what I said, Well,we got to take another third out because
you just moved yourself into a thirtytwo percent tax bracket. Oh my god,

(04:08):
what does that mean? And weshowed her how much that means,
and she started being like, whatdo I do? I don't want to
have all these bills going in retirement. So we had to build a playing
around, that's right. So theybuilt a plan to where she could do
all those things but pay less intaxes. And you know, I mean,
if you're sitting out there and thisis you all right, and this
is hitting home Like I'm sitting here, I'm trying to figure out how I'm
going to make a plan for retirement. Um, I've saved money, right,

(04:31):
but I'm really not sure, likehow much of that really want to
give to the government, you know, Like I don't want to do that.
I don't want to share my retirementwith Uncle sam Um. You know,
Taxes are aything you're gonna have todeal with one way or the other.
Need you either, you know,sit around and hope that they go
away, which they're not right,or you can make a plan and be
proactive and get ahead of it.It only gets worse when you don't have
the information. Wouldn't you agree?I absolutely agree. It's kind of like

(04:53):
the joke we make about taxes andcavities, right if you get at Yeah,
if you've got a cavity and youjust leave that thing alone for thirty
years, do you think it's gonnabe less painful or less expensive to deal
with it? No? Absolutely nottaxes the same way you tax deferd all,
you're investing in savings, so younever pay any taxes for thirty years,
plus the compounding interest. What doyou think it's gonna happen when you
take it out? Direst is goingto say, oh, well thanks a

(05:15):
lot, Billy and Sue, You'vebeen really great citizens, and we won't
tax you. No, they're gonnatax you. One hundred percent of that
money is taxable income. So ifyou want to find out ways to you
know, essentially, get more outand pay less, that's what the tax
lab is designed to do. It'sdesigned to provide you with analysis that tells
you that here's how much you potentiallyyou're going to pay in taxes throughout your
lifetime, and here a couple ofoptions and how to reduce or eliminate some

(05:39):
of those taxes. Here's the deal. Two traps want to ask you this,
where do you find the majority ofthe wealth of our clients when they
come in? Where is it?What kind of fund is it in?
Well, it's always tax defered.It's always in an ir and they have
no idea how to get their moneyout without paying one hundred percent tax on
it. Right, right, that'sright because legally they have to pay taxes
on that money. It comes out. Well, that's what the tax lab

(05:59):
is for. Folks. Get inhere and learn some techniques to reduce those
taxes on the four one ks andthe iras. And we have techniques that
we can show you how to doa few things to eliminate some of those
taxes. Make you're making your moneymore taxifish and that's what we do.
But you got to come in hereto do it. And if you want
to come in for the taxi labguys again, to eliminate and reduce these
unnecessary taxes, more money in yourpocket less than Uncle Sam's. All you

(06:19):
have to do is call right now. It is complimentary, but you must
call right now. Two two fivefour to six five one zero six five
two two five four six five onezero six five. All right, you
guys, if I could picture youboth twenty five years ago, I picture
you probably with your wife, andyou're in a movie theater watching the very

(06:40):
popular movie Titanic. Am I right? True? Definitely? Is my wife?
I knew, well there's that twentyfive years ago you were, Yeah,
exactly, but we were all there. We all saw it in the
theaters. I thought I was goingto marry Leonardo DiCaprio, as many other
females did as well. And youknow, there's been the argument for twenty

(07:00):
five years, and that, guys, I got to get you to weigh
in. Do you think that Rosecould have scooted over on the door so
poor Jack could have got on thereand lived. I think so, I
think I'm agree with James Cameron.Didn't he say, like, if you
could take it all back, hemade it door a little smaller, that's
what he says. Yes, butpeople are still upset about it twenty five
years later. But I mean,really, it would have changed the whole
love story if you think about it. But yeah, I mean right,

(07:21):
lots of people concerned about it.I mean I remember being in the theater,
like move over Rose, help himsacrifice the ould simate sacrifices for love.
Otherwise, how would you have redonethe opening? That's very true.
See, that's what I mean.It would have changed a whole love story.
So Jack Leo, thanks for thanksfor your sacrifice. Well, there

(07:42):
was a little child actor who playeda really small part in the movie.
He's still reaping benefits, believe itor not. His name is Rhys Thompson.
He was just five. He playeda little kid on the on the
boat of course, with the familyas it goes down all that stuff.
Well he still receives two hundred andfifty dollars a year. Now that's not
a ton of money, but itpays a bill or two. But you
know, that's what we call mailboxmoney because it comes on a regular basis.

(08:03):
And in the world of retirement planning, isn't this what an annuity can
also give is mailbox money. Well, that's exactly right. That's one of
the best things about annuity is oneof the things we really love about it.
It's a good it's a power toolfor a state planning and income planning
because that will produce an income that'sguaranteed for the rest of your life,
or you can have an increased incomeand guarantee it out for a term period

(08:26):
five fifteen, twenty years. Peopledon't know about that. And one time
I took some money from a CDon a client, put it right into
an annuity, started an annuitized income, and it was very tax efficient because
none of well I think ten dollarsout of a th thousand was tax eachmon
how about that one. It's notvery bad. I think the biggest thing
to talk about with annuities in mailboxmoney is you want to keep it simple,

(08:48):
right, I mean, that's that'sreally what this is a value.
You just want to have an investmentthat you can put the money in there
and you know, like clockwork,every month, you're gonna get that check
deposit into your account. There's nota whole lot of investments that work that
way. That isn't literally what annuitiesare originally designed to do. That's their
wheelhouse. Yeah, let's talk.Can we talk about some of those other
investments that maybe not work that way? Sure? I mean, if you're

(09:11):
driving in your car and you've gota few minutes, you might want to
hear this one. But what happenswhen you drawing your income off dividends?
Well, as long as company spanningdivid any either did it in what did
the companies get to do? Butin twenty twenty is what you're talking about,
you know, I think this isalmost sixty percent of dividend payers either
reduced or halted some dividends exactly.So a dividend payer, it's not guaranteed
that income has declared every quarter orevery month whatever declaring dividends, right,

(09:33):
But they can reduce dividends, whichaffects your income for life, or they
can increase dividends, or they canalso stop paying divident I mean, you're
going to see that a lot asthis market continues. Kind of deteriorate,
especially inside your real estate investment trustinvestments. You're gonna see that a ton
and the rits and reads and allthose kind of things ran in all kinds
of trouble back in the market crashes. When markets crash, banks crash,
when banks crash, real estate crashes, and then all your rits start freezing

(09:56):
up and you can't get assets.In fact, we're seeing some of that
right now. Blackstone is denying people. They're withdrawal rights. They're approving some
and some they're not approved. Yeah, about thirty three percent of redemptions were
actually received, So like thirty threeout of every hundred people who ask for
their money got it. Seventy sevenwe're left kind of crying in their beer.
Oh my god. That means like, if you were depending on them
for certain support of your income inretirement, you didn't get it, then

(10:20):
you didn't get a check, right, and so you call him up and
you complain what happens. Uh sosorry, but that's the way it works.
This is you didn't reach your youdidn't read a perspective perspective. Yeah,
yeah, And for those that don'tknow the perspectives is like this little
pamphlet you get with your statements that, let's be honest, none of us
regular folks read that. You guysdo, Travis. It's like a great
reading material for you. I lovethat stuff. But I can tell you

(10:41):
right now I get it with mystatements, and I go, okay,
yeah, I'll move on. Yeah, but then how about real estate income,
Well that's pretty good, but youknow you have to chase rent.
What happens when things get bad andthings get tough. Yeah, all paid
their rent, and that's not asteady income where we don't have to chase
all that one. You haven't anythat annwity is guarantee, it's stayed.
It's like a soul scarity check.It's there on the certain day of the

(11:01):
month each month. Yeah. Oneof my favor ways to explain is annuity
income is kind of like rent income, but you don't have to chase people.
You don't have to fix toilets.I like that just shows up know
what's happening. M It's an easypeasy money. It's less less, less
time, less effort. Absolutely,and really, I mean again, the
question a lot of folks always strugglewith as well. You know, I'm
so used to always getting that incomealso known as that paycheck. So what

(11:24):
do I do when that paycheck stops? Well, and annuity could be a
great fit for you, because that'swhat we're saying. It comes at the
same time every month, right toyour checking or debit account, whatever you
wanted to go to. You canrely on that income. It's gonna be
there. And if you're wondering,all right, is an annuity a fit
for me? How do I know? How does it fit in my puzzle
piece of my retirement plan? Well, this is where the financial lab comes

(11:46):
in. And Travis, you doa great job of explaining exactly what the
financial lab is. When it comesto putting that income plan together, it's
like hitting the remember that old commercialis a stable commercial with the easy button.
Hit the easy button. Yeah,okay, Well, if we put
this into your fecial lab, whichwe usually help show people this, it's
like hitting the red easy put onincome plaining, doesn't it, Travis?
Yeah, it really does. Itdoesn't make incomplaining a lot easier, you

(12:07):
know. So when you're doing theincome phase of your retirement of your financial
lab, essentially we were sitting downand doing is it's I mean It's simple.
People ask themselves this all the time. Do have enough to retire?
What do they mean by that?They mean, do I have enough money
to pay myself an income to covermy lifestyle so that don't run out of
money before I run on time onthis earth. That's a good thing to

(12:28):
order, and yeah, it isa good thing to worry about. And
the thing that makes that happen isincome. So what you really do,
and what we do every day inthe financial lab is we sit down and
look at how much money you saved. How much of that money do we
need to carve out in order tocreate an income stream so if you can
live the lifestyle you want without runningout of money. That's how the income
phase of your financial lab works.It's designed to answer that specific question.
And that's the question that we allhave, right is am I going to

(12:50):
have enough money in retirement? HaveI done enough? And if I haven't,
how do I start filling in thoseblanks? And the financial lab again
is designed to show you this literallyin black and white, folks, exactly
where your money is going and howit's working for you, not against you.
That phone number if you want tocome in for that financial labb and
create this income plan we're talking abouttwo two five four to six five one
zero six five again two two five, four six five one zero six five.

(13:13):
Want to also remind you there's alot of great resources on the website
Shepherd Wealth Solutions dot com. Youcan even submit a little form there to
request an appointment as well against ShepherdWealth Solutions dot Com. Taking a short
break. When we come back,where are we as far as the economy?
Are we in a recession? Asa recession coming, how can you
prepare? David and Travis are goingto weigh in on how they can help

(13:35):
protect and grow your money despite what'shappening in the market. You're not going
to want to miss that. We'llbe right back. Three and five Americans
say their number one financial concern isnot having enough money in retirement. So
what do you do with the paychecksstop when you go into retirement. That's
where David and Travis Shepherd of ShepherdWealth Solutions can help. For years,
Shepherd Wealth Solutions has been helping peoplejust like you retire and retire with confid

(14:00):
knowing you will not run out ofmoney and you can enjoy the retirement You've
always dreamed of with income for life. Call Shepherd Wealth Solutions today for your
complimentary income review called two two fivefour six five ten sixty five. That's
two two five four six five tensixty five. Or visit Shepherd Wealth Solutions

(14:20):
dot com. Welcome back to theFinancial Lab with David and Travis Shepherd of
Shepherd Wealth Solutions here on w JBO. Again, we appreciate you joining us
here today for the Financial Lab withDavid and Travis Shepherd. If you're new
to the show, they are theamazing father and son team of Shepherd Wealth
Solutions. You can always call rightnow. We have local team members taking
your phone call off the air.Two two five four six five one zero

(14:43):
six five two two five four sixfive one zero six five. More details,
of course on the website Shepherd WealthSolutions dot com. The Federal Reserve
sent mixed signals after the last interestrate hike. On one hand, it
talked about the possibility of pause newrate hikes, and then of course it
talks out the other side of itsmouth and it says, well, they're

(15:03):
going to open the door for moreincreases. Here is economist Jeremy Seagull on
CNBC. What the market really wantsis Okay, we might have a mild
reception, but that theft should recognizethat won't raise rates anymore, and we'll
start thinking of lowering rates, andthat could set us up for a good
fourth quarter. If they became reallystubborn, then keep on talking about what
we haven't killed inflation yet, andwe may have to raise it more.

(15:26):
Then. I think the market Ihave a high time surpassing the previous highs.
All right, so let's break thisdown and just really simple easy terms
here. If they pause, themarket might go up, but some interest
rate opportunities could go down. Right. It's like a what do you call
a seesaw kind of effect? Sois there still time to take advantage of
these kind of things? You know, everything's always changing. Nothing stays the

(15:48):
same that I know of. Thingschange and you have to change with them,
and there's always opportunity. So allthis noise out there, that's what
it is, noise Unless you don'tknow what to do, and you're getting
what's the old saying, analysis analysis. You know you don't know what to
do? You get for all thisnegativity coming at you. Well, I
can tell you what to do.You better get in here and do a
financial lab with us. Let's findthe weak spots and the strong points,

(16:08):
and let's talk about how to developmore strong points in your financial situation.
Whether it's income or growth or whateveryou're looking for. There's ways to do
it, and there's smarter ways duringa recession, and of course when in
a bull market is around, isvery very easy. So but right now
it's a little tough out there,but we have things that are working.
Yeah. Absolutely. I think atthe end of the day, the people

(16:29):
who who are in the best positionto profit of the people who are most
prepared exactly. You know. Soif you're out there and you're trying to
figure out what's going on and wasa federrate hiking to do this? Is
going to do that, And there'sa lot of things you can do.
I can tell you right now it'sgonna do. The more they hike rates,
well, the worst it's going toget for the economy because it slows
down economic activity. Yeah, butyou know what's passing. But it's also
a great time for you if you'reshopping for fixed income options. Huh,

(16:51):
that's right. You can lock inhigher interest rates for longer. If you're
shopping for income. Well, thehigher the interest rate, the higher the
income. That's it gets to bea little easy. You're producing that income,
doesn't it. That's right. Sothe other side of that is this,
if it makes you calmy worse andthe company's become less profitable, right
because economy slows down, that createsa buying opportunity, and you've practically prepared
over the last sixteen months for that. But if we have, if you

(17:14):
did prepare right like we have,then you are going to be able to
take advantage of that opportunity. Butit's all about what have you done and
what are you going to do?And if you're out there and you're listening
to this and you're like, youknow what, I'm not sure what the
heck I've done? Right? AllI know is that my account was up
here back in November of twenty twentyone or January of twenty twenty two,
and now it's down here now talkinggoing on, right, So I don't

(17:37):
know what's due. Well, ifthat's your if that's who you are,
and you've called your advisor and youradvisors like, oh, well, you
know, Johnny, it's gonna beokay. The market goes up, the
mark goes down. We can't reallycontrol between the market goes and YadA,
YadA, YadA. Hang in there, patch on the head. You'll be
a good boy, a good girlbecause you're a long term investor, and
we'll just ride this thing out together. And you're tired of that show coming
into your financial lab, I guaranteeyou come in, we'll show you at
least three things you can do yeto make your situation better and be more

(18:02):
confident heading into you will potentially bea recession, I would forget. These
are the people that told you thatinflation was transitory and it won't be that
big of a deal. Yeah,so it is a big deal, and
now they're telling you to be amild recession. And here's the deal.
If you're retired, you can't sitaround like my sons do and complain about
the market going down in their fouroh one case. Dad, I'm putting
five hundred dollars in my four ohone k and I look at it this
week and I have less in therethan I started with, then I had

(18:25):
last month, so on and soforth. You know, in retirement,
that's one thing you don't want tosay, is your value is just drifting,
drifting, drifting down without putting somethingin place to fix that situation.
And sometimes you can just find yourselfwith too much money at risk. And
that's what Trivis is talking about,getting in and fixing that risk. You
get that risk and the houses done. And just to make this crystal clear
for everybody, the reason you can'tdo that and my brothers who are out

(18:48):
there working and putting their four Oone case every two weeks, can you
have to figure out how to liveon this money for the rest of your
life. So every time mister markettakes them away from you, you're having
to figure out how to live onless for longer. Yeah, it doesn't
add up. It doesn't add up. Don't listen to what Wall Street tells
you to. They want you tostay invested that way because that's how they
get paid. Don't forget they're inthe business to sell you stock. They're

(19:10):
not in the business to help yourisk manage a situation. You want to
learn about risk management, how tocontrol your financial future. Coming into your
financial lab, heck, Hafiela comeinto their financial lab. They come in
because they're worried about the market.You know, the other thing. They're
worried about losing money in taxes.I'm tired of getting one two combo punched
out of here by the market takingmy money and they get pay taxes on
the money. Last week, gota lady come in. We're taking a

(19:33):
look at her taxes. She hadto pay money on capital gains inside her
investments and she wasn't aware of it. Yeah, she wasn't aware of it
because she lost eighteen percent of heraccount value last year. Why the heck
is she paying for gains when sheactually lost eighteen percent of her account value
because her mutual funds passed along thosecapital gains from investments they made ten years

(19:53):
ago. Wow, right, nowshe's on the hook for it. I
mean, there's so many little thingsthat where Wall Street will and really put
it to you and you having noidea it's coming because nobody's educating on it,
and you need to educate yourself.Come in and see us your financial
lab and we'll give you an acceleratedcrash course in what you need to know
and how to get retirement right,how to reduce your risk, create an

(20:18):
income that you can depend on,and eliminate or reduce your taxes. So
that you can keep more of yourmoney. And if you'd like to come
in for that financial lab and asTravis is talking about, here, get
a little crash courses of exactly whatyour money is doing for you and how
it's being affected by the stock market, and put together that crucial risk analysis.
Call right now two two five fourto six five one zero six five

(20:38):
two two five four to six fiveone zero six five go ahead, David.
You know Jessica and our audience outthere. We had a lady came
in the other week. I wasn'tsitting in what her Travis was, but
she brought up something I thought waskind of interesting. She said, you
know, Travis, you and Davidgive a lot of killar information, but
not the details. And so Travisand Dawn maybe we should talk a little

(21:00):
bit more about some details. AndI'm like, we'll try. You gotta
remember, people driving around in acar, they're only in there five ten,
fifteen minutes. You cannot talk abouta whole financial strategy and the details
on that radio show. So whatwe have to do is make an appointment,
take an hour and a half outyour day, come in and learn
what we're talking about. We're notgonna be able to give the details over
the radio because we don't have enoughtime. But it's your money. If

(21:22):
you're losing money or you don't knowwhat to do with this recession that we're
facing, get in here and doa lab and let's save you a lot
of money, and let's start puttingmoney in an opportunity position where we can
utilize it better and make it moretax efficient as well. Absolutely, And
another reason, guys, is thateverybody's situation is different. And when you
come in for this financial lab andyou're putting together the income plan, you're

(21:42):
putting together the tax plan, therisk analysis that they are going to use
your actual real life numbers. Sothat's why you have to make time to
come in and have an appointment.And it's complimentary. It literally takes an
hour and a half of your time, like you're talking about here. So
give a call today for that financiallab. We'll get you on the calendar.
Two to five four five one zerosix five Again that's two two five

(22:03):
four six five one zero six five. We were talking earlier just kind of
about the seasons and the stages oflife and how when you enter a retirement
it literally is as a whole newphase of life. It's a whole new
chapter of life. And in thatyou're gonna go through three different seasons.
You're gonna have the go go yearswhere you're all over the place, traveling,
bucket list season, and then you'regonna have the slogo years, maybe
it'll travel as much, and thenof course you got the no go years.

(22:26):
Guys, So how do you makesure that we can account for all
these different phases of retirement? Youknow, I think it's in the go
go years, you know you're spendingmore money. But the thing is you
have to know that you have paycheckscoming in every single month. You know
it's going to replace what you're spending. And that's part of having that guaranteed
sustainable income that we plan for.And you also have to plan for the

(22:48):
extras and that's part of some otherinvestments that we have on our growth.
So there's a lot of different waysto handle this issue, and we use
different techniques for different different people becauseeverybody's an a different boat. I mean
to really simplify that, let's justbreak it down right. Go go years
is when you're younger, you havemobility and you have things, you want
to get out there and go do. Right, you just came back from

(23:10):
your trip. Yeah, I wentto Europe yep. Could you imagine doing
that ten years ten years older?I would have liked to have done it
ten years ago. Yeah, tenyears younger, you'd like it. So,
I mean you know that, andthat's what we're really getting down to
you. I mean, at theend of the day, our job is
a lot about numbers, but alot of it is a lot about behavior,
like what are you doing, howdo you want to do it,
how do you feel? What's yourhealth like? So that's really where the

(23:32):
gogo years come from. The gogoyears are there because we do want to
spend more, just like data issaying it. Because you have the health,
you have the mobility, and yougot the cash, We'll get out
there and enjoy it, right,have some fun with it. Now,
you're slowgo years, Well, whatdo you think that's from. I'd say
it's either you've overspent or your health. Right, it's either you've overspend your
health. So for our clients,it's not hugely because you overspent, right,

(23:52):
because we're designing these plans that youcan spend. The ghost slow years
really are. You're slowing down inyour mobility and you in your your chance
is to travel. You know you'regonna go climb Mount to Peach You.
We talked about this the other day. We had a couple that was one
of our workshops. They went climbedMOUNTI Peach you and they're seventy one was
right, And the thing you said, the only thing I'd have done,
But the only thing that I'd madethat trip better is if I was fifty

(24:14):
one, so I'd have done ittwice. And right, I have to
try. So you're gonna lose someof that mobility as we age. And
but here's the thing is you're goingto find other things to take its place.
Right, and then the last one, of course, is going to
be the no go years, Andthat of course is going to be the
later phase of life where you knowthere might be things you want to do,
but your health is not allowing youto do that. The thing that's

(24:34):
gonna take its place is the healthcareexpense. Costs of caregiving is going to
go up. We want to havedifferent phases inside of your plan to take
care of those different years. Sohowever, life is treating you and you're
able to live life. You've gota consistent, reliable, dependable income plan
that's going to take care of allthose things you need to in the go

(24:55):
go years, the ghost slow years, and then the no go years,
because in is key in all threephases of life. If you don't have
a three phase of life plan foryour income, come to your financial Lab
and the income section and we willshow you how to create an income so
you can enjoy every single one ofthose go go years, make the most
out of the ghost slow and havea plan to protect yourself so that you

(25:18):
can take care of what you needto you and have the best care giving
possible and the no go years.That's what it's all about. It mentioned,
yeah, income is key. Income. Income, income is what retirement's
all about. Need to make sureyou have that for all the phases of
retirement. If you're not sure orif you're concerned, this is where the
financial lab comes in again. You'regoing to sit down with David and Travis
and the team. They'll be ableto put together this income plan for you,
showing you how that income is goingto last as long as you need

(25:41):
it to. Again for that FinancialLab two two five four six five one
zero six five two two five fourto six five one zero six five more
details and of course resources. Youcan even book your own appointment on the
website at Shepherd Wealth Solutions dot com. The conversation continues. Stay with us
for more of the Financial Lab.Getting up Sam and wall Street out of
your pocket. Let's get back tothe Financial Lab with David and Travis Shepherd.

(26:07):
Hope you're enjoying your day. Wedo appreciate you joining us. My
name is Jessica and I'm here withthe father and son team David and Travis
Shepherd for the Financial Lab, ofcourse, the website Shepherd Wealth Solutions dot
com. The phone number two twofive four six five ten sixty five two
two five four six five ten sixtyfive. Loss to talk about, of
course on today's show, taxes,how to take that surprise out of the

(26:30):
equation when it comes to planning foryour retirement, and of course the big
question here, how do you replacethat paycheck in retirement? Before we get
to that, of course, DavidTravis, how are you guys doing?
What's going on? Doing good?Doing good? Tired of dodging rain drops
over here, but you know we'redoing great, Yeah good, doing good.
All the girls are out of schoolon Tuesday, full blown summer moon.

(26:51):
We are going to graduation after graduationparty with all these yea, yeah,
same. I've been doing the sameand eating too much, drinking too
much, doing all the stuff.But it's it's a great time for all
these young people to be going onto the next chapter, whether that's you
know, first grade, second grade, or college or high school. And
it's cool to see everybody kind ofyou know, change and evolve, you
know, evolution. Yeah, weall have these stages in our life,
right, even in retirements, gotstages as you got to go go years,

(27:14):
you got to somewhat go go years, you got to stay at home
years and got a few sad years. Yeah, right exactly. And of
course they talk about the stages oflife, and you know, going into
that retirement phase of your life isa completely new chapter. Things are different.
But you need to make sure thatyou're planning for that, right.
This isn't something you just kind ofwake up and go, well, I
hope I did enough. If youhave that hope and you know, wing
in a prayer plan, good luckto you. But I don't think it'll

(27:36):
work out. That's why we puttogether the very simple financial lab And I'll
let Travis kind of talk about thatand just a few moments, but I
did want to remind our listeners.You guys have an event coming up on
May twenty third and the twenty fifthat Portobello's. Tell me about this and
of course how our listeners can attend. Yeah, it's gonna be So this
event is designed to try to helpyou get retirement right. You know,
you need to know how to howmuch risk you got, how to create

(27:57):
an income stream and how to payless taxes right, So get retirement right.
And that's where it's really going tofocus on. How to minimize your
risk, creating income streaming you candepend on and live on a retirement,
and then how to reduce taxes alongthe way. Seats do full of fast.
It is complimentary to attend. You'regonna learn a lot, guys.
You're gonna need some great food ofcourse as well. But the whole point
is for you to take away alittle bit of education and go you know

(28:18):
what. Okay, And now I'mready to have this conversation with Travis and
David and the team at Shepperdwell solutions. Again, like I said, it
is complimentary. Seats are filling upfast. You must call an rs VP
two two five four to six fiveone zero six five again two two five
four to six five one zero sixfive. And talking about taxes here,
it leads me into my first questionbecause there was a survey a few years

(28:38):
ago that it analyzed how people spendtheir money in retirement get the usual suspects
up their food, utilities, cars, travel, but the number one expense
was thirty one cents out of everydollar went to taxes. It was also
the biggest surprise to people in retirement. So guys, how can your tax
lab help take this surprise out ofthe equation? You know, that's one

(29:00):
of the most important parts of ourtax lab. You know, it's the
more tax efficient planning on your retirementincome because not about how much you take
home, it's how much you getto spend to me. Yeah, I
mean, it's really important that wejust did a tax lab for a lady
this week and looking at she wasgoing to be expecting to pay two hundred
and eighty four thousand SEMIDD dollars overher lifetime, and taxes just wanted her

(29:21):
IRA money and if she did therastin versions over the next three years,
we could reduce it down down onehundred and seventy four thousand dollars. So
it saves here about one hundred thousanddollars in taxes over our lifetime. You
know what this kind of reminds meof, tryals. I was thinking of
the story of a couple of clients. We see so many of them,
but I remember this couple that camein and they had They did not want
to talk about taxes. They wantedto talk to see if you remember this

(29:41):
couple, they wanted to talk abouttaking up They had a good bit of
money in there, four one K. They wanted to start pulling lump sums
out, paying off their pay off, the house pay off, the boat
pay off, the truck pay off, the oilies, rebuild a kitchen.
And we started adding it up andI said, what about taxes? She
goes why. I said, well, we got to take another third out

(30:02):
because you just moved yourself into athirty two percent tax bracket. Oh my
god, what does that mean?And we showed her how much that means,
and she started doing like what doI do? I don't want to
have all these bills going in retirement, so we had to build a playing
around that's right. So they builta plan to where she could do all
those things but pay less in taxes. And you know, I mean,
if you're sitting out there and andthis is you all right, and this

(30:22):
is hitting home, Like I'm sittinghere, I'm trying to figure out how
I'm going to make a plan forretirement. Um, I've saved money,
right, but I'm really not sure, like how much of that really want
to give to the government, youknow, Like I don't want to do
that. I don't want to sharemy retirement with Uncle Sam. Um.
You know, Taxes are theything you'regonna have to deal with one way or
the other. Need you either,you know, sit around and hope that

(30:44):
they go away, which they arenot, right, or you can make
a plan and be proactive and getahead of it. It only gets worse
when you don't have the information.Wouldn't you agree? I absolutely agree.
It's kind of like the joke wemake about taxes and cavities, right if
you get at Yeah, if you'vegot a cavity and you just leave that
thing alone for thirty years, doyou think it's less painful or less expensive
to deal with it. No,absolutely not taxes the same way you tax

(31:04):
defered all you're investing in savings,so you never pay any taxes for thirty
years plus the compounding interest. Whatdo you think is going to happen when
you take it out? Diress isgoing to say, oh, well thanks
a lot, Billy and Sue,you've been really great citizens, and we
won't tax you. No, they'regonna tax you on hundred percent. That
money is taxable income. So ifyou want to find out ways to,
you know, essentially, get moreout and pay less. That's what the

(31:26):
tax lab is designed to do.It's designed to provide you with analysis that
tells you that here's how much youpotentially you're going to pay in taxes throughout
your lifetime, and here a coupleof options and how to reduce or eliminate
some of those taxes. Here's thedeal too, Travis want to ask you
this, where do you find themajority of the wealth of our clients when
they come in, Where is it? What kind of fund is it in?
It's always tax defered, it's alwaysin an ir and they have no

(31:49):
idea how to get their money outwithout paying one hundred percent tax on it,
right right, that's right because legallythey have to pay taxes on that
money it comes out. Well,that's what the tax lab is for,
folks. Get in here some techniquesto reduce those taxes on the four one
ks and the iras, and wehave techniques that we can show you how
to do a few things to eliminatesome of those taxes. Make you're making
your money more taxifish, and that'swhat we do. But you got to

(32:12):
come in here to do it.And if you want to come in for
the taxi Lab guys again, toeliminate and reduce these unnecessary taxes, more
money in your pocket less and UncleSam's all you have to do is call
right now. It is complimentary,but you must call right now. Two
two five four six five one zerosix five two two five four six five
one zero six five. All right, you guys, if I could picture
you both twenty five years ago,I picture you probably with your wife,

(32:37):
and you're in a movie theater watchingthe very popular movie Titanic. Am I
right? True? Definitely use mywife. I knew, well there's that
twenty five years ago you were Jessicayeah, exactly. But we were all
there, we all saw it inthe theaters. I thought I was going
to marry Leonardo DiCaprio, as manyother females did as well. And you

(32:59):
know there's been the argument for twentyfive years, and that guys, I
got to get you to weigh in. Do you think that Rose could have
scooted over on the door so poorJack could have got on there and lived?
I think so. I think I'man agree with James Cameron. Didn't
he say, like, if youcould take it all back, he'd made
a door a little smaller, that'swhat he says. Yes, but people
are still upset about it twenty fiveyears later. But I mean, really,
it would have changed the whole lovestory if you think about it.

(33:20):
But yeah, I mean right,exact, lots of people concerned about it.
I mean I remember being in thetheater, like, move over Rose,
help him sacrifice the ultimate sacrifices forlove? Right, Otherwise, how
would you have redone the opening?That's very true, See, that's what
I made. It would have changeda whole love story. So Jack Leo,
thanks for thanks for your sacrifice.Well, there was a little child

(33:42):
actor who played a really small partin the movie. He's still reaping benefits.
Believe it or not. His nameis Rhys Thompson. He was just
five. He played a little kidon the on the boat of course with
the family as it goes down allthat stuff. Well he still receives two
hundred and fifty dollars a year.Now that's not a ton of money,
but it pays a bill or two. But you know, that's what we
call mailbox money because it comes ona regular basis. And in the world

(34:04):
of retirement planning, isn't this whatan annuity can also give is mailbox money.
Well, that's exactly right. That'sone of the best things about annuity
is one of the things we reallylove about it. It's good. It's
a power tool for a state planningand income planning because that will produce an
income that's guaranteed for the rest ofyour life, or you can have an
increased income and guarantee it out fora term period five fifteen, twenty years.

(34:28):
People don't know about that. Andone time I took some money from
a CD on a client, putit right into an annuity, started an
annuitized income and it was very taxefficient because none of it. Well,
I think ten dollars out of athousand was tax em on. How about
that one. It's not very bad. I think the biggest thing to talk
about with annuities in mailbox money isyou want to keep it simple, right,

(34:49):
I mean, that's that's really whatthis is about. Like, you
just want to have an investment thatyou can put the money in there,
and you know, like clockwork,every month you're gonna get that check deposits
your account. There's not a wholelot of investments that work that way.
That isn't literally what annuities are originallydesigned to do. That's their wheelhouse.
Yeah, let's talk Can we talkabout some of those other investments that maybe
not work that way? Sure?I mean, if you're driving in your

(35:10):
car and you've got a few minutes, you might want to hear this one.
But what happens when you drawing yourincome off dividends? As long as
companies paying dividend either dividend, whatdid the companies get to do? But
in twenty twenty is what you're talkingabout? You know, I think this
is almost sixty percent of dividend payerseither reduced or halted some dividends. Exactly.
So a dividend payer, it's notguaranteed that income has declared every quarter
or every month whatever they declaring dividends, right, but they can reduce dividends,

(35:36):
which affects your income for life,or they can increase dividdens, or
they can also stop paying divid Imean, you're going to see that a
lot as its marketings and he iskind of deteriorate, especially inside your real
estate investment trust investments. You're gonnasee that a ton and the ritz and
reads and all those kind of thingsran in all kinds of trouble back in
the market crashes. When markets crash, banks crash, when banks crash,
real estate crashes, and then allyour rits start freezing up and you can't

(35:58):
get assets. In fact, we'reseeing some of that right now. Blackstone
is denying people. They're withdrawal rights. They're approving some and some they're not
approved. Yeah, about thirty threepercent of redemptions we're actually received, So
like thirty three out of every hundredpeople who asked for their money got it
seventy seven we're left kind of cryingin their beer. Oh my god.
That means like if he were dependingon them for certain support of your income

(36:19):
in retirement. You didn't get it. Then you didn't get a check,
right, and so you call himup and you complain what happens. So
sorry, but that's the way itworks. This is you didn't reach your
you didn't read perspective perspective. Yeah. Yeah, And for those that don't
know, the perspectives is like thislittle pamphlet you get with your statements that
let's be honest, none of usregular folks read that. You guys do,
Travis. It's like a great readingmaterial for you. I love that

(36:40):
stuff. But I can tell youright now, I get it with my
statements and I go, okay,yeah, I move on. Yeah.
But then how about real estate income? Well it's pretty good, but you
know you have to chase rent.What happens when things get bad and things
get tough, Yeah, don't paytheir rent. And that's not a steady
income where we don't have to chaseall that one. You haven't annwity that
new if he is guaranteed it's paid, it's like a soul scary check.

(37:01):
It's there on the certain day ofthe month each month. Yeah. One
of my favor ways to explain isannuity income is kind of like rent income,
but you don't have to chase people, you don't have to fix toilets.
I like that just shows up.Know what's happening. M h.
It's an easy, peasy money.It's less less, less time, less
effort. Absolutely sure. And really, I mean again the question a lot
of folks always struggle with as well. You know, I'm so used to

(37:22):
always getting that income also known asthat paycheck. So what do I do
when that paycheck stops? Well,and annuity could be a great fit for
you, because that's what we're saying. It comes at the same time every
month, right to your checking ordebit account, whatever you want to go
to. You can rely on thatincome. It's gonna be there. And
if you're wondering, all right,is an annuity a fit for me?
How do I know? How doesit fit in my puzzle piece of my

(37:44):
retirement plan? Well, this iswhere the financial lab comes in. And
Travis, you do a great jobof explaining exactly what the financial lab is.
When it comes to putting that incomeplan together. It's like hitting that
Remember that old commercial is a stablecommercial with the easy buttons, the easy
button. Yeah, okay, well, if we put this into your financial
lab, which we usually help showpeople this, it's like hitting the red

(38:04):
easy button on income planning, doesn'tit, Travis? Yeah, it really
does. It doesn't make income plaininga lot easier, you know. So
when you're doing the income phase ofyour retirement of your financial lab, essentially
we were sitting down and doing isit's I mean, it's simple. People
ask themselves this all the time.Do have enough to retire? What do
they mean by that? They mean, do have enough money to pay myself
an income to cover my lifestyle sothat don't run out of money before I

(38:27):
run on time on this earth.That's a good thing to or And yeah,
it is a good thing to worryabout. And the thing that makes
that happen is income. So whatyou really do, and what we do
every day in the financial lab iswe sit down and we look at how
much money you saved. How muchof that money do we need to carve
out in order to create an incomestream? So if you can live the
lifestyle you want without running out ofmoney. That's how the income phase of
your financial lab works. It's designedto answer that specific question. Two two,

(38:49):
five, four to six five onezero six five again two two five
four six five one zero six fivewhat to also remind you, there's a
lot of great resources on the websiteShepherd Wealth Salute dot com. You can
even submit a little form there torequest an appointment as well against Shepherd Wealth
Solutions dot Com. Taking a shortbreak. When we come back, where
are we as far as the economy, are we in a recession? As

(39:12):
a recession coming, how can youprepare? David and Travis are going to
weigh in on how they can helpprotect and grow your money despite what's happening
in the market. You're not goingto want to miss that. 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 that can help you retirewith confidence using strategies to help you generate
income during your retirement years. CalledDavid and Travis Today two two five,

(39:37):
four six five ten sixty five.That's two two five, four sixty five,
ten sixty five, or go toShepherd Wealth Solutions dot com. Want
to retire with confidence? Get moreShepherd Wealth Solutions dot com. Now,
let's get back to the show again. We appreciate you joining us here today
for the Financial Lab with David andTravis Shepherd. If you're new to the

(39:58):
show, they are the amazing seeingfather and son team of Shepherd Wealth Solutions.
You can always call right now.We have local team members taking your
phone call off the air. Twotwo five four six five one zero six
five two two five four six fiveone zero six five. More details,
of course on the website Shepherd wealthSolutions dot com. The Federal Reserve sent
mixed signals after the last interest ratehike. On one hand, it talked

(40:22):
about the possibility of pausing new ratehikes, and then of course it talks
out the other side of its mouthand it says, well, they're going
to open the door for more increases. Here is economist Jeremy Siegel on CNBC.
What the market really wants is Okay, we might have a mild reception,
but that fet should recognize that won'traise rates anymore, and we'll start
thinking of lowering rates. And thatcould set us up for a good fourth

(40:43):
quarter if they became really stouburn andkeep on talking about what we haven't killed
inflation yet, and we may haveto raise it more then I think the
market I have a higher time surpassingthe previous highs. All right, so
let's break this down in just reallysimple easy terms. Here. If they
pause, then mark might go up, but some interest rate opportunities could go
down. Right, It's like awhat do you call a c saw kind

(41:05):
of effect? So is there stilltime to take advantage of these kind of
things? You know, everything's alwayschallenging. Nothing stays the same that I
know of. Things change and youhave to change with them, and there's
always opportunity. So all this noiseout there, that's what it is,
noise unless you don't know what todo, and you're getting what's the old
saying analysis paralysis. You know,you don't know what to do? You
get for all this negativity coming atyou. Well, I can tell you

(41:28):
what to do. You better getin here and do a financial lab with
us. Let's find the weak spotsand the strong points, and let's talk
about how to develop more strong pointsin your financial situation. Whether it's income
or growth or whatever you're looking for. There's ways to do it, and
there's smarter ways during a recession,and of course, when a bullmarket is
around is very very easy. Sobut right now it's a little tough out

(41:49):
there, but we have things thatare working. Yeah. Absolutely. I
think at the end of the daythat people who who are in the best
position to profit with people who aremost repaired exactly. You know. So
if you're out there and you're tryingto figure out what's going on, is
a FED rate hike going to dothis? Is gonna do that, And
there's a lot of things you cando. I can tell you right now
it's gonna do. The more theyhike rates, well, the worst it's
going to get for the economy becauseit slows down economic activity. But you
know what's possibing, But it's alsoa great time for you. If you're

(42:13):
shopping for fixed income options, huh, that's right. You can lock in
high interest rates for longer. Ifyou're shopping for income, well, the
hire the interest rate higher the income, that's it gets to be a little
easier producing that income, doesn't it. That's right. So the other side
of that is this, if itmakes econmy worse and the company has become
less profitable, right because economy slowsdown, that creates a buying opportunity and
you've proactively prepared over the last sixteenmonths for that. But if we have,

(42:37):
if you did prepare right like wehave, then you are going to
be able to take advantage of thatopportunity. But it's all about what have
you done and what are you goingto do? And if you're out there
and you're listening to this and you'relike, you know what, I'm not
sure what the heck I've done?Right? All I know is that my
account was up here back in Novemberof twenty twenty one or January of twenty
twenty two, and now it's downhere. Talks going on right, right,

(43:00):
So I don't know what's d well, if that's true, if that's
who you are, and you've calledyour advisor and your visors like, oh,
well, you know, Johnny,it's gonna be okay. The market
goes up, the mark goes down. Can't really control it, tae,
the market goes and YadA, YadA, YadA. Hanging there patch on the
head. You'll be a good boy, a good girl because you're a long
term investor. We'll just ride thisthing out together. And you're tired of
that show coming into your financial lab. I guarantee you come in we'll show

(43:20):
you at least three things that youcan do, yep, to make your
situation better and be more confident headinginto you will potentially be a recession.
I would forget. These are thepeople that told you that inflation was transitory
and it won't be that big ofa deal. Yeah, so it is
a big deal, and now they'retelling you to be a mode recession.
And here's the deal. If you'reretired, you can't sit around like my
sons do and complain about the marketgoing down in their four or one case
down. I'm putting five hundred dollarsin my four or one K and I

(43:44):
look at it this week and Ihave less in there than I started with,
then I had last month, soon and so forth. You know,
in retirement, that's one thing youdon't want to say, is your
value is just drifting drifting, driftingdown without putting something in place to fix
that situation. And sometimes you canjust find yourself with too much money at
risk. And that's what TRAPS istalking about, getting in and fixing that
risk. You get that risk onthe houses done. And just to make

(44:06):
this crystal clear for everybody, thereason you can't do that and my brothers
who are out there working and puttingtheir for own case every two weeks.
Can you have to figure out howto live on this money for the rest
of your life. So every timemister market takes them away from you,
you're having to figure out how tolive on less for longer. Yeah,
it doesn't, It doesn't add up. Don't listen to what Wall Street tells
you to. They want you tostay invested that way because that's how they

(44:29):
get paid. Don't forget they're inthe business to sell you stock. They're
not in the business to help yourisk manage a situation. You want to
learn about risk management, how tocontrol your financial future. Coming into your
financial lab, Hack Halfeele come indo their financial lab. They come in
because they're worried about the market.You know the other thing they're worried about
losing money in taxes. I'm tiredof getting one two combo punched out of

(44:50):
here by the market taking my money, and then get bad taxes on the
money. Last week we got alady come in. We're taking a look
at her taxes. She had topay money on capital gains inside her invest
and she wasn't aware of it.Yeah, she wasn't aware of it because
she lost eighteen percent of her accountvalue last year. Why the heck is
she paying for gains when she actuallylost eighteen percent of her account value because

(45:12):
her mutual funds passed along those capitalgains from investments they made ten years ago.
Right now, she's on the hookfor it. I mean, there's
so many little things of where WallStreet will come and really put it to
you, and you have no ideait's coming because nobody's educating you on it.
And you need to educate yourself.Come in and see us for your
financial lab and we'll give you anaccelerated crash course in what you need to

(45:34):
know and how to get retirement right, how to reduce your risk, create
an income that you can depend on, and eliminate or reduce your taxes so
that you can keep more of yourmoney. And if you'd like to come
in for that financial lab and asTravis is talking about here, or get
a little crash courses of exactly whatyour money is doing for you and how
what's being affected by the stock marketand put together that crucial risk analysis.

(45:55):
Call right now two two five fourto six five one zero six five two,
two, five, four to sixfive one zero six five, go
ahead, David. You know Jessicaand our audience out there. We had
a lady came in the other week. I wasn't sitting in what her Travis
was, but she brought up somethingI thought was kind of interesting. She
says, you know, Travis,you and David give a lot of kid

(46:16):
information, but not the details.And so Travis sing down, maybe we
should talk a little bit more aboutsome details. And I'm like, well,
Travis, you gotta remember people drivingaround in a car. They're only
in there five, ten, fifteenminutes. You cannot talk about a whole
financial strategy and the details on thatradio show. So what we have to
do is make an appointment, takean hour and a half out your day,
come in and learn what we're talkingabout. We're not gonna be able

(46:37):
to give the details over the radiobecause we don't have enough time. But
it's your money. If you're losingmoney or you don't know what to do
with this recession that we're facing,get in here and do a lab and
let's save you a lot of money. And let's start putting money in an
opportunity position where we can utilize itbetter and make it more tax efficient as
well. Absolutely, And another reason, guys, is that everybody's situations different.

(47:00):
And when you come in for thisfinancial lab and you're putting together the
income plan, you're putting together thetax plan, the risk analysis, that
they are going to use your actualreal life numbers. So that's why you
have to make time to come inand have an appointment, and it's complimentary.
It literally takes an hour and ahalf of your time, like you're
talking about here, So give acall today for that financial lab. We'll
get you on the calendar. Twotwo five four six five one zero six

(47:21):
five. Again that's two two fivefour five one zero six five. We
were talking earlier just kind of aboutthe seasons and the stages of life and
how when you enter a retirement itliterally is as a whole new phase of
life. It's a whole new chapterof life. And in that you're gonna
go through three different seasons. You'regonna have the go go years where you're
all over the place, traveling,bucket list season, and then you're gonna

(47:43):
have the slowgo years, maybe it'lltravel as much, and then of course
you got the no go years.Guys. So how do you make sure
that we could account for all thesedifferent phases of retirement. Yeah, I
think it's on the go go years, you know you're spending more money.
But the thing is you have toknow that you have paychecks coming in every
single month. You know it's goingto replace what you're spending. And that's

(48:04):
part of having that guaranteed to stainableincome that we plan for, and you
also have to plan for the extrasand that's part of some other investments that
we have on our growth. Sothere's a lot of different ways to handle
this issue, and we use differenttechniques for different different people because everybody's in
a different boat. I mean toreally simplify that, let's just break it
down, right. The go goyears is when you're younger, you have

(48:25):
mobility, and you have things youwant to go out there and go do.
Right, you just came back fromyour trip. Yeah, I went
to Europe. Ye. Could youimagine doing that ten years ten years older?
I would have liked to have doneit ten years ago. Yeah,
ten years younger, you'd like more. So, I mean, you know,
and that's what we're really getting downto you. I mean, at
the end, of the day.Our job is a lot about numbers,
but a lot of it is alot about behavior, like what are you

(48:46):
doing, how do you want todo it, how do you feel,
what's your health like? So that'sreally where the Gogo years come from.
The Google years are there because wedo want to spend more, just like
Data is saying it, because youhave the health, you have the mobility,
and you got the cash, We'llget out there and enjoy it.
Right, has some fun with it. Now, you're slow go years,
Well, what do you think that'sfrom. I'd say it's either you've overspent

(49:07):
or your health. Right, it'seither you've overspent your health. So for
our clients, it's not hugely becauseyou overspent, right, because we're designing
these plans that you can spend.The ghost slow years really are you're slowing
down in your mobility and your inyour your chances to travel. You know
you're gonna go climb Mount to peachyou. We talked about this the other
day. We had a couple thatwas one of our workshops. They went
climbed Mount to peach you and they'reseventy one, right, And the thing

(49:30):
you said, the only thing I'dhave done. But the only thing that
I'd made that trip better is ifI was fifty one, so I'd have
done it twice. Right, youhave to try, so you're gonna lose
some of that mobility as we age. And but here's the thing, is
you're going to find other things totake its place. Right. And then
the last one, of course,is going to be the no go years,
And that of course is going tobe the later phase of life where

(49:50):
you know there might be things youwant to do, but your health is
not allowing you to do that.The thing that's gonna take its place is
the healthcare expense. Costs of caregivingis going to go up. We want
to have different das is inside ofyour plan to take care of those different
years. So however life is treatingyou and you're able to live life.
You've got a consistent, reliable,dependable income plan that's going to take care

(50:10):
of all those things you need toin the go go years, the ghost
slow years, and in the nogo years. Because income is key in
all three phases of life. Ifyou don't have a three phase of life
plan for your income, come toyour financial lab and in the income section
we will show you how to createan income so you can enjoy every single
one of those go go years,make the most out of the ghost slow

(50:34):
and have a plan to protect yourselfso that you can take care of what
you need to you and have thebest care giving possible and the no go
years. That's what it's all about. It mentioned, Yeah, income is
key. Income. Income, Incomeis what retirement's all about. Need to
make sure you have that for allthe phases of retirement. If you're not
sure or if you're concerned, thisis where the financial Lab comes in again.
You're going to sit down with Davidand Travis and the team. They'll
be able to put together this incomeplan for you, showing you how that

(50:57):
income is going to last as longas you need it to. Again for
that Financial Lab two two five foursix five one zero six five two two
five four six five one zero sixfive more details and of course resources.
You can even book your own appointmenton the website at Shepherd Wealth Solutions dot
com or taking a short break,the conversation continues. Stay with us for
more of the Financial Lab. Asalways will ave hearing from you and we

(51:20):
hope you have a great weekend.We'll see you next week. Thanks for
listening. Remember plan well to livewell. Travis Shepherd is an investment advisor
representative of Retirement Wealth Advisors Incorporated,an sec registered investment advisors. Shepherd Wealth
Solutions, Retirement Wealth Advisors and wJBO are now affiliated. Exposure to ideas
and financial vehicles discussed should not beconsidered financial advice or recommendation to buy or
sell any financial dhical. This informationshould not be considered tax or legal advice.
Individuals should consult with a professional specializingin the fields of tax, legal

(51:43):
accounting, or investments regarding the applicabilityof this information for their situation. Past
performance is now to guarantee of afuture results. Any comments regarding safe and
secure products and guaranteed income streams referonly to fixed insurance products. They do
not refer in any way to securitiesor investment advisory products. Fixed insurance on
a newity product guarantees are suject forthe claims payability of the issueing company and
are out offered by our wa