Safeguarding Against Running Out Of Money In 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!

Episode Transcript

(00:10):
We appreciate you joining us here today. Of course you're listening to the Financial
Liab with David and Travis Shepherd.My name is Jessica. Get more details
at Shepherd wealth Solutions dot com.Anything we talk about on today's show,
it could be something maybe about yourfour one K, your IRA taxes,
maybe this crazy market volatility we've beentalking about. There is a team member
available to take your call off theair. Two two five four to six

(00:32):
five ten sixty five Again two twofive four to six five ten sixty five.
Lots to talk about on today's show. How to help safeguard against running
out of money in retirement. Pluswhen's the last time you did a little
wellness check on your portfolio? Beforewe get started, David, Travis,
guys, how you doing doing great? It's great to be back. I
was knocking off a few of mytop items on the bucket list on a

(00:54):
little traveling. But I sure I'mglad to be back home. It's no
place like the USA where all didyou go? Again? And you were
going for a while, eight differentcountries like my mom in San Diego.
He's all over the fine Dad.He somewhere out there. He went to
Ireland, had a nine hour layoverin Ireland. Oh, yis. I
don't know how he filled that timein Ireland. I can only imagine.

(01:15):
Yeah, and then he went fromIreland and he flew to Amsterdam, Amsterdam
to Hungary, Hungaria, and thenhe came up on the river cruise.
Yeah. Yeah, so of surprisingin fom Jessica. So all of our
predictions were wrong about Dad's trip.His favorite countries were not the ones we
thought they were going to be.So initially y'all went to Ya, went
to Hungary, then you went toSlovakia, and then Austria, Austria,

(01:41):
Germany and Czech Republic. Yeah,so we thought that Austria and German Yeah,
well in England, yeah. Well, but on the cruise you just
went to the other ones. Right, So when the cruise the office,
we had a running pool of whatwas going to be Dad's favorite, you
know, countries to go to versushis least favorite. So we went with
like, you know, Austria andGermany, right, totally wrong. Which

(02:04):
one? Which one did you likethe most? Hmm? I liked hungry,
I like to whine over there andvery very good. Yeah, and
then you went to the check andcheck. I love the check Republic.
I thought it was a third worldnation, but man, it's it's there's
an old Czech Republic, there's anew check Republic. Nice. The funniest
part of your Best Food was where, Oh shoot, is it hungry?
Hungry? Hungaria? So hungry Ihad the best food to imagine that,

(02:27):
which we were playing and joking aroundabout that all day. He was hungry.
You're hungry and hungry? Yeah,yeah, me on the spot.
I'm trying to remember what I toldyou. Guys, you're trying to remember
what day it is. You've beenon vacation mode for like two weeks.
But I'll tell you what. You'regetting some practice for. You know,
one day when you finally say,all right, Travis, you gotta run
this. You gotta run this train. I'm out of here, and uh,
you know, that's the perfect timeto do it, because you're in
the go go years where you cango and enjoy and you know, do

(02:49):
all the sight seeing stuff, allthat good stuff. And you you preach
the same thing to listeners that callin and say, you know, I
want to take this a big tripto go eight different countries. But when's
the best time to do it.That's true. Yeah, I mean we
tell people that all the time.Talk about fun money, that's where it's
at. Yeah, I mean youwant to you want to do those kind
of trips like just your dad's outon a big trip kind of like that
too, right, he is.He's out in Paris, they're going to

(03:09):
Portugal. They're going to like sevenor eight different places as well. Yeah,
because they're doing the same kind ofcruise, are similar set up.
Yeah, he's probably about the sameages made too his sixties, Yes he
is. Yea. Yeah, SoI mean that's the we always tell people,
Dad is you know, you gotthree phases. You get the go
go years, that goes some years, and you got the no go years.
And most of that is not reallyabout money. It's about what you

(03:30):
bibility exactly. You're healthy, can'ttravel right right, so why you got
the money in the mobility? Man? We want to knock out those things
on the on the bucket list.I've met a couple last week. They
are they're late sixties maybe early seventiesat most. They just got back from
Montpichu. They loved it. Onlyone thing they would do different sooner.
Yeah, it go seven years ago. Yeah, exactly. But again you're

(03:53):
right, it's that's that fun bucketmoney. So I know when we all
think about planning for retirement, firstof all, we think of, okay,
well, how are we going toreplace that paycheck and how are we
going to make sure we have enoughincome that lasts as long as we do,
because that's the number one fear isrunning out of money in retirement.
And then once you kind of getover that hill of okay, I have
done enough, I see where Davidand Travis and the team they're creating these
different streams of income where my money'sgoing to be protected and it's also going

(04:15):
to grow over time. And thenyou get to have that conversation where it's
a little more comfortable talking about thebucket list items. Again, I want
to make sure you get this phonenumber if you want to come in for
the financial lab where you're going totalk everything from soup to nuts, as
they say, from the beginning planningprocess to the bucket list items, to
long term care and taxes. Thatphone number two two five four to six,
five ten sixty five Again two twofive, four, six five ten

(04:39):
sixty five. The fete is poisedto raise interest rates again, and while
it's hoping to avoid a recession.A recent survey found that nearly seventy percent
of investors believe that there will beone this year, and most of them
they're preparing by cutting back on personalspending and they're increasing savings. Others are
adjusting their financial plans. So,guys, is it time for that or

(05:00):
do we just kind of hold ontight, stay the course. Oh no,
this is worrying a lot of peopleout there. A matter of fact,
we had a client in here justbefore the radio show and Travis was
sitting in there with him, andI heard him ask a big question to
her, to her and her husband, and that was, what's more important
to you? A large income ora large bank account? What do you
think? Large income or large bankaccount? I want to say income both,

(05:24):
I mean, aren't think the samething? Income? Bank account?
What? That's what she said?A large income? Yeah, because I
can still save a little bit andtake my trips like a save for it,
and I don't have to worry aboutit. That's right, That's right.
I mean, you know, thequestion is the most people saying for
some people that are worried about arecession, they're gonna to go a pullback,
you know, And is that atime for it or not? Is
just asking Jessica. And that justdepends, you know, it depends on

(05:46):
did you plan for this? Yeah? Did you not? Right? So
the question we asked this new clientwas so much not so much about you
know, hey, which one wouldyou rather this or that? Ideally you
want both, But really the nuanceof the question is what makes you feel
more free? Yeah, more comfortable, more confident in spending and enjoying your

(06:06):
time in retirement. Is that yougot you know, a million bucks sitting
in the bank or is it becauseyou can spend ten thousand dollars a month
right without having to worry about itbeing replenished or not that ten thousands coming
like clockwork every month? What makesyou feel more free? You know?
Their answer is the income and thereason why the income is the answer,
and it's probably the same answer foryou sitting at home or riding around your

(06:26):
car. It's because for the lastforty years, have you been living your
life? Because how much money's inyour bank or paycheck? Yeah, that's
right, it's paycheck, right.So when you retire, you've done a
good job of saving. Now you'vegot to figure out how to do a
good job of turning your savings intopaycheck for the rest of your life.
Well, guess what we do everyday. We turn savings into paychecks for
the rest of your life. Notonly do we do that, we protect
that paycheck and we make sure thatpaycheck can grow over time. And on

(06:50):
top of that, we make surethat you don't have to pay too much
of that paycheck to the I RS. That's right, Travis. You
know I heard the smart guys saythis one time. When it comes to
tirement, it's all about income incomeincome. That's right. Maybe I should
say that four times, four weeksin a month, income income. Let's
get a paycheck every week. That'sright. If you learn nothing else from

(07:11):
today's show, retirement is about incomeincome, income, and just go to
HAD and add a bonus their income. Yeah. You know, one thing
I would tell you is if you'renot out there and you're not getting worried
about a recession, you should be. Yes, you know why. You
know, the last person to thegame every time there's economic trouble, the
last person to figure it out.The Federal Reserve. I mean jog your
memory. Are there nine months behindit? Yeah? Always? Do you

(07:34):
remember the Federal Reserve coming out intwenty twenty and twenty twenty one, and
even in twenty twenty two, andthey told you inflation would be transitory.
I do remember that. Yeah,yeah, remember that. Don't worry about
it. It's transitory. It's justthis little thing. It's not my year
for long. It's not gonna makea big deal. And then ker splash,
It's like, you know, itwon't go away. Vote the elephant
just jumping into your kiddie. Yeah. Yeah, So, I mean,

(07:56):
you know, transitory inflation, itshould be a small number, and then
boom, it hit eight percent.Okay, that's their track record. Now
that came out what last week,week before last and said, hey,
don't get worried about it, butthere's probably going to be a mild recession
in the second half of twenty twentythree. Okay, So mild recession is

(08:18):
the same as transitory inflation, whichmeans what it's going to be the opposite,
right, It probably is gonna bea whole lot worse than they're projecting.
So you know, they tell youthere's not the you know, the
time it's not the time to panic. No, no, no, no,
no, no, no, no. You should probably be panic.
Yeah, you should probably should probablynot be in a position where you have
to panic. That's right. Youshould be finding yourself in a position where
you're not having to panic. Youknow, you wake up today or you

(08:39):
woke up earlier this week and yousaw that First Republic Bank was down ninety
percent in the first few hours oftrading. Oh, who cares, it's
First Republic Bank. Well no,no, no, no, no,
yeah, the fourteenth largest bank inthe United States. Let's put this into
perspective. The last time we hadsomething like that happened was in two thousand
and eight, when City Group wentfrom almost six hundred dollars a share to

(09:01):
fifteen dollars a share in less thana year. It's not that we're out
there and trying to, like you, get you all motivated and scared.
We're out there because this is justthe data. Right, We're trying to
help to make sure that you wereprepared so you don't have to suffer through
something like that again. Because ifyou're not our client, you're not hearing
this all the time, right,You're only hearing this today when you tune

(09:24):
into the radio. Well, alot of people think they can time the
market, you know those costly timeis gonna make your panic and what happens,
then there goes your retirement. Yeah. I mean if you don't actively
prepared the thinking about like hurricane season, right, hurricane season's gonna be here
before you know it. Oh yeah. Would you get warnings, don't you?
Yeah, you get warnings, butyou know there's an actual season,
right, Yeah, what do youdo before hurricane season starts? Yeah?

(09:46):
You start stacking up on all thesandbags, all the stuff. You prepare.
Yeah, you prepare, right,and then if you prepared, you've
proactively prepared and a hurricane comes along, are us panicked? Are you freaking
out? No? Why? Becauseyou're preparing, you have a plan.
If you didn't prepare, you're thatperson that's over there trying to buy like
tortillas because there's no more bread onthe shelf. Hey are you saying we

(10:09):
have come get our lists, ourrecession proofless Yeah, intercession profess I'm about
to get in here. Yeah,the recession proof list. If you want
to get your hands on it,all you have to do is call today
and schedule your time to come infor that financial lab again. It is
complimentary and you get that recession prooflist again. Two two five, four
to six, five ten sixty fivetwo two five, four to six,
five ten sixty five. More details, of course on the website at Shepherd

(10:33):
wealth Solutions dot com. Coming upnext, find out how meeting with Shepherd
well Solutions is going to help youavoid running out of money in retirement.
You're not gonna want to miss it. Be right back. Welcome to Willie's
Wing, Home of the Secret Sauce. I'll take a dozen wings. Oh,
by the way, I love thatsauce. What's in it? Can't
tell you? I nine's secret.While many financial advisors claim to have the

(10:56):
secret sauce, they don't. Infact, if their sauce is so good,
why are they keeping it a secret. David and Travis Shepherd, the
father and son team of Shepherd WealthSolutions, don't keep anything a secret.
They know there's much more to retirementplanning than stocks, bonds, and mutual
funds. They'll develop a strategy designedspecifically for you. It's your own secret

(11:16):
sauce for retirement. Call Steve todayat two two five, four, six,
five ten sixty five for your personalportfolio x ray that's two two,
five, four, six, five, ten sixty five or online at Shepherd
Wealth Solutions dot com. Fine,you want to know what's in the sauce?
Absolutely tablespoon of Paprika. Really enjoyingthe show, but now it's time

(11:41):
to get out of the car.No big deal. Tune in when you
have more time and download the FinancialLab podcast on iTunes, Spotify or Google
Play. The Financial Lab podcast isthere and ready when you are. Welcome
back to the Financial Lab with Davidand Travis Shephard of Shepherd Wealth Solutions here
on w JBO. Welcome back.You're listening to the Financial Lab. We

(12:03):
appreciate you joining us here today.And here's the deal. If you are
getting close to retirement, maybe you'recurrently retire maybe you're thinking about retirement,
you're in the right spot because Davidand Travis Shepherd of Shepherd Wealth Solutions,
they're gonna be able to help youget too and through retirement despite what's going
on with this crazy market volatility,inflation, and we know taxes are going
to be on the rise soon.All these different moving factors that you can't

(12:24):
control will impact your financial future.So how do you put a plan in
place now to protect yourself from that? It's as easy as calling today two
two five four to six five onezero six five two two five four to
six five one zero six to five. Americans are living longer and there's always
the fear of running out of moneyin retirement. But one way to safeguard

(12:45):
against that is by using something calledan annuity that offers a guaranteed income stream
for life. So, guys,how do annuities befriend the so called enemies
of retirement? You know, it'skind of funny. This is like a
power tool at an annuity for theright job, it does a fantastic job.
But people don't know that though,because they don't know what a newities

(13:05):
can do. There's a lot ofgood things a newitis can do. They're
not perfect, there's no perfect investmentthat I found. They all have a
little catches right, good and bad. But a newities got more good,
especially for retirees, and can guaranteeincome as long as you live. You
don't have to worry about the income. Stopping gets a lot of things.
Yeah, I mean, you're threemain risk when it comes to income,
or it really when comes to theretirement planning because we're tire planing is all

(13:26):
about income, income, income,and then the fourth income. Like dad,
son, is this number one?How long you'll live? Right?
I wish I know you got acrystal ball and you can tell me how
long you're gonna live. I cananswer a lot of things one hundred percent
accurately correct. I want that crystal. You don't know how long you live,
so you have to plan for whatwell. You probably better plan on
living longer and not shorter, becauseif the shorter idea doesn't work out,
you have to figure out how tolive another ten twenty thirty years, you

(13:48):
know, with less money, andhe wants to be old and broke.
Oh that's a bad scenario right now? Yeah nobody? Yeah, you know
so longevity is an issue. ThenI see about annuities? Is a nuities
can be structured for the pay outof period of time? Are the community
structure to pay out over a lifetime? Are both lifetimes for a spouse?
Hard to balance? Volatility and stopmarket house? Where I was going next?
The next one is volatility mark volatilityif your income is based on what

(14:11):
mister market is doing from one weekto the next. Or one month to
the next, or one year tothe next. Well, if you're one
year the next, you're a markof volatility is probably downstretween fifteen to twenty
eight percent, depending on how you'restructured. So your income is now down
fifteen to twenty percent. Right,you took fifteen to twenty percent less income.
Oh no, wait you didn't.You took out the same amount of
income. So that means your accountis probably down even more. Right,

(14:35):
So you don't want to have thatkind of wishy washy. Maybe I get
to spend money this year, andmaybe I don't get to spend money this
year at least when your your basicneeds you know, food, water,
shelter, and how to have adecent time and lifestyle and retirement. Right,
So nuties can take out that volatility. Now, the only newbey that's
an exception of that is going tobe your veritable nuties. Right, it's
in the name. If it saysveritable, guess what that means lose money?

(14:58):
Yeah, that means that means yourlikelihood of enjoying that annuity is veritable,
right, because it's riding along withthe market, right, and it's
like on in stock, it's rightin the market roller coaster. When it's
going up, everybody's happy. Whenit's going down, we're all freaking out.
Yeah, you know, don't freakout with your income, right,
that's not a good place to findyourself. That calls an anxiety, doubt
and heart palpitations. Well, ifyou have that word fixed in your annuities,

(15:20):
then you have a good annuity,especially for our retiring. And the
third one, yes, and thethird one will probably be inflation, which
everybody realizes a real threat after thelast two years. All right, but
for a long time inflation has beenaround two or three percent, so you
know, that's kind of the sneakything in retirements inflation. But I'll say,
how you do this. The waywe do it is we mentioned this
in an earlier segment about the couplethat came in and we asked them,

(15:43):
Hey, would you rather have areally big, fat bank account or would
you rather have a high income,you know, have ten thousand dollars a
month that you cannot live yeah?And they said, okay, well it
depends. Ideally, I want both. But if the idea is what makes
me feel more confident in my spendingin retirement, it's a ten thousand dollars
a month the high income right.Knowing that income is safe, secure,

(16:03):
guarantee where it can be. Iknow I can spend ten thousand dollars this
month because I'll be able to doit next month, and the month after
that, and the year after thatand the year after that. That makes
me more free and more confident inretirement because guess why, That's how I
lived my life. When I wasworking. Every two weeks, I got
a paycheck, right and as longas my job was steady, I didn't
have to worry about my income,so I was free to spend. In
retirement, I've built up all thesavings, and now I'm not sure if

(16:26):
I'm gonna outlive my savings because I'mnot sure if I can spend this month
or not. Well, you don'thave a said income plan, and you
don't have a really income plan,don't have consistency there, and so what
we do is we come in here, we go through your financial lab We
figure out your taxes, we figureout what's going on in your markets and
your portfolios. How much risk doyou have in there? How much reward
are you getting paid for that risk? And then we show you a way
to design a plan that's going toallow you to stack income so that every

(16:49):
so many years. And the couplewe just talked about, their plan moving
forward is they're going to have anincrease in income for the next two years
throughout the next ten years, Soevery other year they're gonna have an increase
in income and that's gonna last forthe next decade. I mean that's huge.
I mean that's I mean it's literallylike giving can due to a baby
exactly. So they have a plannow with stacked income so that they can

(17:11):
spend up into retirement and not haveto worry about spinning down in retirement.
So they're going to have an incomethat not only is an income they can
rely on and depend on, butit's one that they can also rely and
depend on increasing over the next decadeno matter what happens whatsoever. And so
not only do they have a planof reliable, guaranteed income that they're gonna
be able to use, and weknow it's stacks, so it's going to
increase over the next decade. Butguess what that does for their other money.

(17:34):
There are other money that they don'tneed for income because you know,
we talk about protect grow reduced taxeson your wealth. That income money is
protected, So there are other moneythat's not being used for that income right
now. What can we do withit? Well, we could use it
for fun money, we can fora lot of other things. Well,
we can grow it. Well,that's right, I say, that's pretty
important. That's pretty important us thingsthey're gonna cost more later. In fact,

(17:56):
they'll probably want a little extra incomelater. So over the next ten
years, we can ride out whatevermarket volatility is there, and we can
grow the money and we can addon additional income for the next decade.
It's this is simple. It's nothard. I don't know why people make
this as a complicated issue, well, because I think it's it's it's it's
complicated to those that don't do itevery day because it's also like the biggest
decision we're ever going to make inour life is who do we trust with

(18:18):
all of our money and how dowe make sure we don't run out of
money? Sure, but you're exactlyright. Once you explain it, it
is simple. It's like listen,it's it's the concept is simple. Now,
the actual tool and application of itmight be a little more complicated.
I don't want to take away fromthat. You're right, Jessica, But
the idea is simple. Like shampoo. Think about shampoo. Turn the back
of your shampoo bottle around. Wheredo the instructions say, rents well,
lather, rents in repeat. That'sa pretty simple concept, isn't it.

(18:45):
Yeahs now, go read the ingredients. That's a little more complicated. True,
true, right, I Do's whatwe're talking about here. Yeah.
The bottom line is you've always kindof heard the adage of listen. I
just I need to know that thewatch works. I don't need it about
all like the you know that allthe actual and all the stuff in there.
I just need to know is itgoing to keep time? And that's
what we're all looking for in retirementis all I want to know. Is
am I going to have income?Am I going to run out of money?

(19:07):
Am I going to be able totake my grandkids to Disney World and
take that trip with my husband orwife that I've always dreamed of? That's
all I want to know. Howwe get there doesn't really matter. Just
get me there, that's right,you know, And we have the luxury
of this. We see this everyday We see people like you every day.
Y'all face the same problems all thetime. For you, this is
your first time in retirement. You'venever done it before. You've never been

(19:30):
in this position before. We doit every day. We have more reps,
more experience, and we get tocompile and aggregate all that wisdom over
four generations of us doing this orpeople every day just like you, and
now we can take that collective knowledgeand you can benefit from it. I
was making a couple of phone callsearlier in the week, and one of
them was to one of our radiolisteners, and the individual knew a lot

(19:52):
about money. I can tell youknew a lot about money, but you
nobody was worried about he says,I'm trying to find somebody I can trust
whip all money. Yeah, that'sa big issue. I mean that stops
a lot of people from coming inbecause there's so much bad news out there,
you know, people taking advantage ofother people who have another Stanford.
You know, that's one of thethings we try to do. We try
to teach you expand the knowledge sothat you feel a lot more comfortable with
what you're doing. My dad taughtme this trust is not given, it

(20:15):
is yep. And the only wayyou can earn somebody's trust is to what
to prove it. How do youprove it? You can be trustworthy in
our industry. You educate, Youshow somebody how to do it. You
know how to do the best waypossible and communicate to them so you don't
have to tell them what to do. From a point of education, they
not understand what they need to doto do. And the easiest way to

(20:37):
come in and experience this and see, you know, put your money where
your mouth is, so to speak, and say, hey, David Travis,
you're telling me you give me incomefor life. You're telling me I'm
not going to run on money.You're telling me that you can show me
how to protect, grow and reducemy taxes in retirement. Let's go put
your money where your mouth is.Showed me on paper, and guys,
we give that as literally an openinvite and say come in and say I
want the financial lab. Show me, show me what you've been talking about.

(20:59):
Two to five, four six fiveone zero six five again two two
five four to six five one zerosix five Go ahead, Travis, I'll
say, put us to work andmake us, to make us earn that
trust. You know, the onlyway to earn that trust is get it.
Getting that bat. Yeah, thelab, and we'll show you.
We'll education and everything there is todo, and if you like it,
we'll have a conversation about whether youshould hire us or not. And if
you don't like it, guess what. Don't hire us? The thing he

(21:21):
is you flat out like, don'tdo it. I mean, you move
from your retirement should be to yourretirement will be. That's right, That's
what a financial lab will do foryou. So get in here, let's
get this done. Again that phonenumber two two five four to six five
one zero six five again two twofive four to six five one zero six
five. You know, guys,for those that are kind of on the

(21:41):
fence here and they're saying, ohyeah, they've been talking about a recession,
they've been talking about taxes, blahblah blah. We have until tomorrow,
you know, guys, Tomorrow's gonnacome eventually. And again I'm telling
you, we've been talking about this, and the dark clouds are moving in,
just like you would if a storm'scoming in or a hurricane. Right,
you're gonna seek shelter. You're gonnaplan to make sure your home is
protected, and you're gonna board upall the windows. You're gonna do all

(22:02):
that stuff. So think about thatsame concept when it comes to protecting your
money when those paychecks stop and yourinter retirement. David Travis, what is
kind of your last I guess motivationfor these people that are just I'll do
it tomorrow, I'll do it nextweek. I try to impress on them
that they're not getting younger. Imean, when are you going to do
this your approaching retirement. You haven'tdone this yet? Well, what are

(22:22):
you waiting on? You know,you're waiting on the next market crash.
I mean there are signs out therethat the recessions coming. You know what
leads a recession is a market crash, our market pullback. You know how
much? How many times do youhave to take a market pullback until you
brace yourself against it and make somecorrections. And so we don't really have
a problem with people procrastinating once theycome in because we educate them on what

(22:45):
they need to do. Makes alot of sense. We show them how
to create income, and that's that'syou know, income, income, income,
that's retirement right there. Yeah,I would tell you this. You
know, one of the one ofthe best pieces of advice I got is
you'll never see tomorrow if you don'tget through today, right, So tomorrow
not promised, but today's here,right. So if you get through today,
you got shot out tomorrow. Okay. So if you're if you're planning
on just handing them this tomorrow,that's never going to come because by the

(23:07):
time you get around to that time, guess what it is, Well,
it's today now, not tomorrow.So you're just gonna keep putting it off
and putting it off and putting on. It's like groundhogs Day. You know,
you're just gonna be sitting there likeBill Murray and just redoing the same
thing all the time. So you'renot going to get to tomorrow if you
can't get through today. The otherthing I would tell you is this Hope.
Hope is great. Hope works hereat our office. If you like

(23:29):
any of our graphic design stuff orFacebook things, think Hope, she's awesome.
You know what, Hope is nota risk management strategy. Hope is
not going to get you through thenext downside in the market. I hope
the market doesn't crash. Yeah,and it might make you feel better,
but financially, it could lead toyour your undoing. I hope my paycheck
is there next month, it's right. I hope that this market comes back

(23:51):
to where I used to have it. Right, you can do that,
and that's fine. If you wantto do that, great, I'm gonna
tell you right now. If youwant to do that, you want to
hope for the best but not beprepared for the worst, We're not for
you. This is not a placewhere you should come and do your financial
lab and have a conversation about hiringus or not. Hopes not a risk,
manage a strategy, actively preparing yourselfso that you better your financial future

(24:12):
and the financial future your family.That's what we do every day, and
that's the mindset. And those arethe kind of people we want to work
with and we want to serve.We want to serve those kinds of families.
You know. But if you're justgonna sit back there and hope for
the best and not worry about theoutcome, then you are not a fit.
Yeah we're not a fit. Soyeah, thanks for listening. But
you know, I wish you allthe best. I hope it works out.

(24:32):
Financial needs also evolved. So ifyou want a plan not only of
how to get through today, butto better your tomorrow, start with the
financial lab coming and see us willshow you and educate you and earn your
trust by walking you through the processof getting together a tangible plan to protect

(24:55):
the money you need to create theincome that's gonna last your lifetime in retirement,
grow the rest of your money forthe future so you can spend up
and not spin down. And ontop of that, we'll show you how
to reduce Are you eliminate income taxesnot only today but for the rest of
your life. That's huge. That'sa game changer right there. Again,
if you want to learn how toprotect and grow your income, reduce your

(25:17):
taxes, and have that income forlife, and you're serious about this,
as we say here on the show, plan well live Well, this is
a decision that only you can make, and we make it about as easy
as possible by saying all you haveto do is call today, come in
for that complimentary financial lab. DavidTravis and the team. They're gonna put
their money where their mouth is.They're gonna be able to show you how
they can create that plan that's goingto get you two and through retirement,

(25:37):
give you the retirement you've always dreamedof. That's the goal each and every
time they sit down with one ofour listeners or current clients. Again that
phone number two two five four tosix five one zero six five two two
five four to six five one zerosix five. The website Shepherd wealth Solutions
dot com. Coming up next,we're going to pay a visit to South
Park if you remember that show andget a quick little lesson on risk.

(26:00):
Getting Uncle Sam and Wall Street outof your pocket. Let's get back to
the Financial Lab with David and TravisShepherd. You are listening to the Financial
Lab. We appreciate you joining ushere today. One of my favorite parts
is always hearing from you guys.What do you like about the show?
What more information do you want oncertain topics? How can we help you?
All of that is at really thehands of you listening right now.

(26:21):
Two two five four to six fiveone zero six to five against two two
five four six five one zero sixfive. Lots of great details, of
course, more information at Shepherd WealthSolutions dot com. You want to talk
about risk well, here's a clipfrom an episode of the animated comedy Central
show Southpark. Listen to this.How can I help you? Young man?

(26:41):
I got one hundred dollar check frommy grandma, and my dad said
I need to put it in thebanks so it can grow over the years.
Well that's fantastic, a really smartdecision, young man. We can
put that check in a money marketmutual fund. Then we'll reinvest the earnings
into foreign currency accounts with compounding interest. And it's got. Oh, it's
got. It's all. Guy's gun. The money in your account, it

(27:02):
didn't do too well, it's gonenot anymore. You don't poof, Well
what can I do to get thatout of side here? But this line
is for bank members only. Doyou have any money invested with this bank?
No? You just last it all? Did? Please stand aside for
people who actually have money with thisnext? Please? Oh my gosh,
an amazing clip. Move out theway. We doesn't lost your money,
that's the way. Next step uphere. The only reason you laugh about

(27:25):
that is to keep from going crazybecause there's so much like truth into that,
you know what I mean. Like, my favorite part of that clip
is like, well it didn't doso well, it's gone, didn't pop.
It's not that I didn't do soyeah, it you told me to
put it in there. Yeah.That's my favorite thing when Johnny broker,
you know, like client comes inand says, yeah, I'll talk to
my broker, and you know,he wants me to sit tight because he's

(27:48):
screwed up and I lost a lotof money here. Yeah, we did
investing, and you know, hetold me, let markets go up and
markets go down. I can't reallycontrol what happens in the market. And
then I'm like, well, whydid you tell me to invest it this
way? Didn't he tell you toput it there? Yeah? He did.
I'm like, well, then canyou control where he puts it?
Hey, look, move out onthe line. The next person has to
come up get and lost all yourmoney. Yeah exactly. So I mean

(28:08):
it's just like, look, yeah, you can't control the market. It
goes upen it goes down, butyou can control your exposure to the market.
You control your risk, your exposure. Right. You guys really help,
you know, kind of put thoseairbags around us to help it.
Was that, right, Yeah,absolutely, that's what we do trying to
educate people on what they need tobe doing. It's right, I mean,
like it's to make it as simpleas possible. This is how it

(28:30):
goes. You know, when theeconomy is growing, well, that's when
you put your money back into themarket, right, you take the risk
to get the growth. When theeconomy is contracting and not growing as fast
as it was prior, guess whatyou should do. You should probably take
some money out the market or anotherway if the market is not predictable.
What are you doing with so muchmoney in air? That's right? I
mean especially money you need for income. You know that prediculous. It's like
driving your car on the interstate.If there's nobody in front of you,

(28:52):
could you go as fast as youwant to? Yeah, you could.
You could go one hundred and twenty. But what if there's a cop up
ahead? Well then you're going tojail. Right yeah, But I mean
you could take as much risk asyou want to you but there are consequences
to that risk. Now. Look, should you go the same speed if
there's a wreck ahead of you andstop traffic? Well you could, and

(29:12):
then you'll be the second wreck forthe day there, Right, But what
you probably should do is what slowdown? Get ready out, put your
flashers on. Yeah, look behindyou, because the risk isn't in front,
it's in the back. So youknow, we say this though because
we're trying to make it simple,but it really is that simple when you

(29:32):
really get break it down to brasstacks. When the economy is growing,
that's when you get rewarded for takingthe risk. When the economy is not
growing and you're heading into contraction,are they bring up the word week session?
Do you think you should keep itall at the same level of risk?
Should you keep driving the same speedor should you slow down? You
know, people just don't know.They don't do this for a living,
so they don't know that's true.But you know what drives me nuts.

(29:56):
Is there paying somebody to do thisfor them? Many up in those professionals,
that's what you think you're paying forit. Let me break it down
and make it abundantly clear. Mostof their financial professionals that are out there
and managing money are there to buyand hold well. They're to grow your
money. They're not worried about risk. Yeah, you know why because they

(30:17):
don't get paid if you get out. Yeah, think about that for a
minute. If they don't get apaycheck because you decide to move your money
to cash or to take less outthe market and park it somewhere else for
a little while until the scary stuffgoes away. They don't get paid.
Are you're incentives aligned? I wouldsay no. Are they motivated to do

(30:37):
that for you? Right? No, they're not motivated. They're motivated to
keep the money in the market.As to tell you, you need to
just sit on it. Just staycalm, stay calm. It's going to
go back up in five years.I mean, think about this. We've
done this before. In two thousand, the S ANDP hit its peak and
then had a crash two thousand,two thousand and three, So you've all
been through this show before. Twothousand we had the dot com crash.

(31:00):
Ever, I remember that ye kindof sounds a lot like artificial intelligence in
AI. Now back then its dotcom. Now it's AI is going to
save the world. So in twothousand, S and P peaks, it
drops, it loses a blue tonof money all the way through two thousand
and three, and then it comesback to break even. Guess what year
that was, two seven, twothousand and seven. What happened after that

(31:21):
in just six years or seven years. Bad recession, Yeah, bad recession.
Two thousand and nine, it hitsbottom again and then it breaks then
the next time, the next timeit gets back to break even at it's
two thousand level, and it's twothousand and seven level where it basically stopped,
had a cup of coffee and thencrashed. It was two thou fourteen.
Ye. So if you're an investorand you weren't working, then you

(31:41):
were just living off your investments.You got a zero percent rate of return
for fourteen years. Can you affordto weight like that? Yeah? I
mean no, no, I meanthat's no, Nope, sure can't.
Can't do that. But I'll tellyou well bad I wasn't retired in those
years. But when it comes downto you know, risk and assessing your
risk and understanding your first of all, we talked about it all the time.
Nine times out of ten, peoplesit across the table from you,

(32:04):
they swear up and down till Tuesdaythat they are so conservative, and then
all of a sudden they you dialdown the numbers. You go, actually
you're like eighty percent invested, man, You got you If something goes down,
you are going down with the ship. And that happens each and every
single day when you guys do thesefinancial labs. Yeah, you're exactly right.
I can't tell you how many timeswe've set out with people that said
exactly that, and then we runour numbers and they come back in they

(32:25):
say, oh my god, mybroker said I was safe. I had
most of my money in a safeposition. I mean, that's the problem
is most people don't know. Mostpeople don't know because you know what Wall
Street cells stock. They want youto buy stock. They want you to
hold stock and then get That's whatthey want you to do, buy more
stock. That's what they want youto do, because you guys, how
they get paid when you buy andhold stock. That's how they get paid.

(32:45):
They don't get paid for you towhat moved cash, moved to safety,
then move back in. It's nothow they make that's not how they
made their money. They don't workthat way. They don't like the parkment
right. They are in the businessof telling you stories about growth, and
when growth doesn't happen, guess whatstory they tell you. We'll just hang
in there, because if you getout now, you're not going to be
there when the growth comes back.Yeah, I mean they hang in there
approach. I don't know about you, listening, it doesn't work for me.

(33:07):
I certainly don't want that. Wellmaybe sort of, it kind of
might work out, but I wantthe other plan that says, no,
it's definitely gonna work out. Thinkabout it this way. Do you get
on a plane where they say,well, there's a thirty percent chance you'll
make it to your destination. Absolutelynot right. You take the one hundred
and fifty percent chance you're getting toyour destination. And that's where the financial
lab comes in and the guys,it's so easy. We're literally putting the
control in your hands. You're probablyscrolling on your Facebook right now, or

(33:30):
you know, on Instagram, whateveryou're doing looking at pictures. Jot this
number down in your phone right now, call for that financial lab. Two
two five four to six five onezero six five. Again, that's two
two five four to six five onezero six five. And you know something
that we will all have the restof our lives is Uncle Sam in our
back pocket. Sometimes we have goodrelationships with Uncle Sam, sometimes we don't.

(33:52):
It turns out even little kids playingMonopoly are not a fan of taxes.
What's been where's all your money gone? Moby taxes? It's okay,
it's part of the key. It'snot fun to what it's the worst for
it's what Listen, buddy, I'mright there with you. Good news is

(34:17):
I guess maybe not good news forhim. You have the rest of your
life to pay them, so you'llbe fine. Yeah. I'd say ninety
percent of our clients before they wereclients, had no idea they had to
worry about taxes. Yeah. Itwas the farthest thing from the world.
We're like, well, your money, your taxes are hold nands. The
way you invested is how it's goingto be taxed. Yeah, I would.
I would say this, like peoplecome in all the time. They

(34:37):
think they know, right, Likepeople come in and they're prepared, and
some people will know a lot theyreally do. Some people will know a
little less than maybe they think theydo. But this is what most people
have no idea about how their taxesand their money work together. They just
don't understand their relationship, right.They just think, Oh, if I
make more money, I gotta paymore in taxes. If I make less
money, I pay less in taxes. Well, who wants that nobody.

(35:00):
I want to make more money andpay less than taxes, and I want
to do it legally. I guesswhat, There's eighty two thousand pages of
tax code. Inside those eighty twothousand pages. Yeah, just a little
light reading, Yeah, just alittle light reading. Eighty thousand of those
pages will actually tell you how tostructure your investments so you pay as little
as possible in taxes. You justgotta spend the time reading the pages,

(35:21):
or spend time with nerds like uswho actually sit down and read the space.
Yeah, I was gonna say,or just go, hey, you
know what, let me talk tothe professionals who have read this, understand
it, speak the whole tax language, and then they can break it down
to just brass tax of what Ineed to know, what's easier to do
the lab Right, I'm saying,the last thing you want to be is
like this kid, and you're cryingbecause you're going broke paying taxes in retirement.

(35:42):
Because here's the thing. In retirementonce there is the only one type
of dead money. You know whatthat is, goa some money paid to
the irs. Right, you canlose some money in the market, and
you got a shot that's going tocome back, right, if you're willing
to wait long enough, it's probablygonna come back. You know. You
know what you're not going to getYou're not gonna get back the money you
paid in taxes because you structured yourinvestments the wrong way. It was that

(36:06):
attorney that came in and we showedhim the Charitable fifteen. Oh my god,
we saved him like thirteen thousand histaxes and he almost started crying because
we couldn't go back and refile hispast three or four years. Yeah,
he came away. He came in. This is a few years ago,
but he came in and he's like, you know, I think everything's pretty
good. He's an attorney and heknows a lot of stuff. He's good
with his money. He's good withhis money, and he kind of has

(36:28):
a pretty good, you know,insight into the He figured out the pain
point. Right, I'm hurting becauseI'm pulling money out and I gotta pay
taxes, and I don't like itbecause the more that I pull out,
the more I pay in taxes.And like most Americans, most people listen
to this show, the majar ofhis money is in tax defer to investing.
That's what you've been told for thelast thirty forty years. So that's
like having a cavity, right,Cavities don't get better if you don't treat

(36:51):
them. Imagine having a cavity forthirty years and not going through treating.
God, no, I think it'sgonna get less painful too. It's no,
it's gonna be more painful and moreexpensive. So this guy comes in.
He knows he's got some pain,right, he actually came in.
That's the whole reason we're coming inthe first place. So we sit down
with him and say, okay,well, let's look at your taxes.
In the first ten minutes and Iguess, we figure out he's donating eighteen

(37:15):
thousand dollars to his church every year. Oh wow, that he could I
guess write off, right, yeah, he should be able to write off.
And he just committed to another tenremember for the roof. So here's
the thing. He's at this point, he's taking his rmds. This was
back when rm d's were seven anda half. They're a little different now,
but seven a half. So he'sbeen doing this for two years,
all right, donating this eighteen kHe cannot deduct it though, because it

(37:38):
doesn't beat his standard deduction, andhe's not happy. No, I wouldn't
be either. But and I knowwe're kind of getting in the weeds a
little bit here, folks. ButI mean, if you're listening and just
going, look, taxes, they'renot great to begin with, right,
we all got to pay him,we all got to do our part,
etc. If you would to findout how to reduce your taxes moving into
retirement, because that's also a misunderstandingas well, a lot of PEP people

(38:00):
think my taxes are going to belower when I retire or no joke.
I've heard people say I don't haveto pay taxes when I retire. Yeah,
yeah, that is not a realthing. Yeah. You know what
I've never heard coming into our officethat anybody's ever said, does Jessica,
Hey, Travis David, I'm gladto be here. I'm excaded to do
my financial lab and I just wantto let you know I'm looking forward to
reducing my lifestyle in retirement by thirtythree percent. Oh gosh, No,

(38:22):
I don't want to have thirty threepercent less fun and less lifestyle in retirement,
right, Nobody says that I haven'theard anybody walking they want to pay
more in taxes either. I haven'theard that either. But you know,
if people are told their entire timewhile they're saving for retirement, don't worry
about taxes in retirement because you won'tneed as much money to live on in
retirement as you did while you're working. Any retiree you know, and guess

(38:45):
what they're gonna tell you. That'sbs you're gonna need about the same amount
of money as you did while you'reworking. If you want to figure out
how to make your money last longer, how to spend more and pay less
in retirement, and don't end uplike that kid a monopoly crying about taxes,
give us a call. We'll putyou together inside the financial lab so
you understand where you are on thetax map. And if you're in a

(39:07):
spot that you don't like and youwant to reduce or elimate your taxes moving
forward, we can show you howto do it. But you've got to
make the call and again that phonenumber two two five four six five one
zero six five call today for thattax lab and avoid feeling like this.
That's right, two two five foursix five one zero six five the website
Shepherd Wealth Solutions dot Com. Comingup next, what is the future of

(39:30):
social security? Can you depend onit? We'll be right back. Uh.
The roller coaster, no matter yourage, no matter the amusement park,
it never ceases to bring the emotionalgoods, the anticipation, the excitement,
and then the fear and adrenaline rushthat comes with the king of all

(39:51):
rides. The same can be saidwhen it comes to your retirement. Lots
of questions and concerns that for somecan feel like a roller coaster. You
be able to continue to live ascomfortably as you do now? Will you
have complete financial independence? Will yourun out of money? How about taxes,
social security or healthcare? David andTravis Shephard and the team at Shepherd
Wealth Solutions can answer these questions andmore with their financial lab called two two

(40:15):
five four six five one zero sixfive. That's two two five, four
six five ten sixty five. CallShepherd Wealth Solutions today and let's save the
fear and adrenaline rush for the amusementpark. If you've ever asked yourself,
have I saved enough to retire?You're in the right place. Let's get
back to the Financial Lab with Davidand Travis Shepherd here on w JBO.

(40:42):
We appreciate you joining us. Thisis the Financial Lab. My name is
Jessica. I'm joined by the fatherson duo David and Travis Shepherd of Shepherd
Wealth Solutions. The phone number twotwo five four six five one zero six
five. Again, that's two twofive four six five one zero six five.
France has been and certainly in thenews a lot lately. It's president

(41:02):
raised the country's retirement age from sixtytwo to sixty four. I'll tell you
what lots of folks have said aboutthat over there. He argued that it
was necessary to save France's pension system. The fact that he did it without
a legislative vote has spurred massive protestover there. So, guys, it
makes me wonder could the same thinghappen here in America with social security already?

(41:24):
Has they've already done that? Theydid that what two years ago?
Three years ago? Yeah? Theychanged No, they changed your security age
from sixty five to sixty six andsome odd months depending on when you you
know, when you were born.Yes, So what the problem to frances
having is They're doing it right?Away. What America did. They said,
Hey, if you were born innineteen sixty four, you have to

(41:46):
wait to sixty seven. So atleast people aren't in retirement. So you
know, they're not protesting in thestreet, but they should have. These
people were protesting the shooters, thesame people who are going to retire in
the next year, the next fiveyears, and next ten years. It's
everybody over there there are about it, like you know, but in America,
like nobody even nobody even pay attentionto that. Yeah, really,
like seriously, nobody even noticed thatthey changed your filing ages. Nobody wrote

(42:08):
there isn't a vote for that.Did you get to vote on that?
I know I didn't get to voteon that. Yeah, I didn't.
I didn't cast one single vote.My joke is, I'll probably get sold
security when I'm sixty seven, ninehundred and seventy eight thousand months old.
You're probably right about that. Butsocial Security, I mean, you guys
hear it every single day. Alot of people come in and they sit
down and they go, well,I think I've done what I can.

(42:29):
I got the four oh one Kand I you know, I'm hoping social
Security is going to be there forme. But that's not the mentality you
need to have. Oh that's notwhat is it? Twenty thirty two?
Now, so Scury's gonna be twentyfive percent underfunded. Yeah, they'll reduce
it by twenty five percent. Yeah, I mean, how are you gonna
make it the difference? Probably they'reprobably gonna reduce benefits about twenty five percent.
Yeah. Security has got a lotof problems. They also might raise
your sol security taxes by twenty fivepercent. You know, so this isn't

(42:52):
a problem for you if you're takingso security, you're not taking soial security.
This is a problem for everybody.If you're still working and you're paying,
you're gonna paycheck and you gotta payfight at taxes, you know,
versual security, medicare. Guess what'sgonna happen when they're short of money?
Where do they get in the firstplace? It comes at your paycheck.
You think they're just gonna let youkeep paying the same taxes. Yeah,

(43:12):
look what they did. Would medicarepart be raising all the premiums n more?
In fact, medicare part beats It'skind of like going to buy a
house right now. If you gota good credit. Guess what happens.
You gotta pay a higher interest ratenow a sudden if you have if you
have good credit, the new rules, you're having good credit, You did
everything right. If you have ahigh income in retirement, Medicare is going

(43:35):
to penalize you for having a highincome, you can afford to pay more,
so you shall. Are you gonnaget any different in different services or
you get better service? Nope?Nope, gonna have extra incentives? Nope,
same service, different price. Becauseyou have a high income, you
have good credit, great, we'regonna penalize you for the interest or it's
just like it's an upside down world. And on top of that, you

(43:58):
have soul security. And look here'sthings. Yeah, you shouldn't rely on
soul security only in retirement, butat the same time, you put the
money in, you should get itout, and you should want to get
it the most out that you can. The question is how do you do
that and when do you do that? Now it's just going to say there's
different you know, strokes for differentfolks. Everybody's situation is different, that's
right, And so it's not aquestion about how much money you get out

(44:20):
a month it's a question about howmuch money you get to keep or you
get to spend every month? Right, So should you take it at sixty
two? Should take it at fullretirement age? Are at seventy? We
had a number of couples asks thisthis past week at the seminar. Yeah,
full reddiment from my age group ofsixty seven. So yeah, So
the question is like when do youtake it? Right? And so everybody
just thinks about how much money they'regoing to get us from the form of

(44:42):
a check. What they're not thinkingabout is how much money are they going
to get and how much have topay back and taxes to the irs for
taking that money in the first place. Right, So it's going to be
different if you're working into your sixtiesand you take soul Security early and you
make over a seven teen or nineteenthousand dollars, guess what they're gonna take
a They're gonna takey cents on adollar from you, and then the other

(45:06):
fifty cents you get to keep.You're gonna pay taxes on that money.
So is it worth it? Well, I don't know, Probably not,
depends on your taxes, yep.Right, So okay, well, what
if I'm at four to finish that. Many times we've build a bridge so
that you don't have to take itat sixty two, and we carry it
out to sixty seven full retirement.Well, there's a number of strategies,
right, I mean there's a numberof them. So like she'd take it

(45:29):
at sixty seven, Well, Idon't know. It depends and if you're
still working. Like I have aclient, he's in his seventies. He
will never ever retire. He's anengineer and he just doesn't see the need
for it. He just likes towork, right, So for him,
he could start drawing at sixty seven, he could take it, he could
reinvest it, and he doesn't getdocked for earning a couple hundred thousand dollars
year in income. Yeah, right, but that's the earliest he could take
it without getting popped on the penalty. Give you another story. But he's

(45:52):
over that age seventy now, he'sover and he's in the seventies now,
So I'll give another one. Sowe get another client. Her husband passed
away a number of years ago,and she's going ready to transition into retirement.
And here's a little fun fact foryou. She can draw widow's benefit.
Now, if she drew it atsixty she got penalized for it,
and she also had to watch howmuch income sharing because she could be taxed.

(46:14):
Right, But she draws it atsixty two, she has no penalty.
So the other thing is when shetakes it at sixty two, she's
going to draw on his benefit,on her deceased husband's benefit. You know
that all her benefit to do rollup. Yeah, So then she can
max hers out at seventy and sowhen she takes it at seventy, she
gets an increase in income. Now, we also have inside that plan,

(46:36):
like you said, Dad, there'sbridges, right. We create different investment
bridges so that she gets increasing incomefrom sixty two all the way through age
seventy and beyond. Because we structureher investments so that every couple of years
she gets an increase in income.And she doesn't want to take that increasing
income. Guess what she can do. She can defer it. Man,

(46:58):
how'd you get so smart? Yeah, you're gonna have different solutions for different
people because everybody's got different tools indifferent different situations. Right. The problem
is the same when do I takesall security? How much am I going
to get? How much am Igonna get the key? Yeah? You
know what, I can tell youthe exact answer to that, No problem.

(47:20):
All you gotta do is coming witha crystal ball and tell me when
you're gonna you know, when you'regonna pass away what. It's all part
of your financial lab. When youcome in, we're plugging those numbers and
were you give them to you.That's right, I mean, that's how
you're planing for it. And here'sthe thing is, we're not gonna give
you one number. We're gonna giveyou probably two or three. So that
way you can choose what number isbest for you, what options work best,
right, Because yeah, there's gonnabe a mathematical number and then there's
gonna be a comfort Okay, Ilike this math number, but I don't

(47:44):
like the tools to get me there. I like this other one better because
I'm you know, I'm more aptto use those kind of tools. Right.
Okay, Great, now let's sitback and let's go execute the plan.
Well, I mean again, itall comes down to your specific situation,
and that's where the financial lab comesinto play. Where David Travis,
they're gonna be able to kind ofrun these numbers for you, show you
in real time with your real numbers, what the potential is of when you

(48:06):
should take Social Security, how doyou claim, how does it impact your
other income streams, etc. Thisall begins with that financial lab Again,
it's complimentary to our listeners today.Two two five four to six five one
zero six to five. Again that'stwo two five four to six five one
zero six five. More details atShepherd Wealth Solutions dot com. David Travis
For those out there that are thinking, no, I've met with a couple

(48:29):
other financial guys and the biggest thingis just who do I trust? What
do I do? Because everything they'resaying sounds great, But how do I
know this is the best decision?What would you say to them about choosing
Shepherd Wealth Solutions as their retirement planners. You know, we're a little different
than most financial people out there.We actually educate you. Once you get
the education and once you know whatyou're doing and the decision makings, they

(48:52):
get better. You know. Yeah, trust is a big part, right,
you know, But like any relationshipyou've built in your past, where
trust is something that that that cameout of that relationship, you had to
start somewhere. So the idea forus is we want to start on common
ground. Like, I don't wantto sit here and pontificate from one high
and speak all this jargon that youdon't know what the heck an even means.

(49:13):
I want to earn trust and Iwant to create a relationship because if
we do our job right, whichwe do a lot, we're in this
relationship for decades, and a lotof times it continues for generations. I
know we're on fourth or fifth generationof working with different clients families. You
know, that's a lot of trustthat's built up over those years. And
this is your first time to talkto somebody like us, or maybe you've

(49:34):
talked to a few others and like, yeah, I just don't know who
to trust. Well, I cantell you this. If that's kind of
where you are, that's because nobody'searn your trust. Jet Well, that's
because they talk over your head.They don't explain things properly. Yeah you
know that. I mean, youknow, it's almost like they're telling you
what to do instead of allowing youtell them what to do to tell Yeah,
are to figure it out for yourself, like any good person who's who's
a professional in any profession there isis going to be able to deploy multiple

(49:59):
too tools solve the same job,and find multiple solutions for the same problem
the differences. And who you're goingto trust is the one who educates you
about the good, the bad,the in between right and then allows you
to sign for yourself which one's rightfor you because they're fully you know they're
with what we're doing and what wedo with people through the financial add process.

(50:20):
We share everything we know all rightnow, that takes trust on our
side. We have to trust thatthe information we're going to share with you
is gonna be information that you're goingto take and keep an open mind to
you. Because otherwise, if ifwe don't trust that you're going to come
in and give us the information weneed to share with you, the solutions
and tools that are capable of solvingyour problems, We're not going anywhere anyways,
like this is not gonna be arelationship that works out. I was

(50:42):
just going to say, it's allabout a relationship. You guys have to
be on the same page. Justclearly going to be trust on both sides
at the table there, and thegoal is all the same to get you
to and through retirement the best waypossible, to make sure that you're able
to protect and grow your income andreduce your taxes. Check off those items
on the bucket list and really getthat added to sleep insurance because you know
that you have a plan in place. That plan begins with the financial lab

(51:04):
and it's complimentary to you listening today. Two two five four six five one
zero six five. Again that's twotwo five four six five one zero six
five. More details at Shepherd WealthSolutions dot com. We appreciate you joining
us. Have a great rest ofthe weekend. Thanks for listening. Yeah,
come on in here. Let's getthat financial lab done. Remember plan
well to live well. Travis Shepherdis an investment advisor representative of Retirement Wealth

(51:29):
Advisors, Incorporated, an SEC registeredinvestment advisors. Shepherd Wealth Solutions, Retirement
Wealth Advisors, and WJBO are notaffiliated. Exposure to ideas and financial vehicles
discussed should not be considered financial adviceor recommendation to buy or sell any financial
vehicle. This information should not beconsidered tax or legal advice. Individuals should
consult with a professional specializing in thefields of tax, legal accounting or investments
regarding the applicability of this information fortheir situation. Past performance is not a
guarantee of future results. Any commentsregarding safe and secure products and guaranteed income

(51:51):
streams, or if only to fixedinsurance products, they do not refer in
any way to securities or investment advisoryproducts. Fixed insurance and a newity product
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