October 8, 2025 • 35 mins
In this episode, Jon Sanchez and Jason Gaunt of Sanchez Gaunt Capital Management (Reno, Nevada wealth managers) explore the unique challenges and opportunities of solo retirement.
Whether due to divorce, the loss of a loved one, or personal choice, retiring alone presents distinct financial, emotional, and lifestyle considerations. Watch this episode as they discuss strategies to build a strong, independent, and joyful retirement without a partner by your side.
Key Takeaways:
👉 Watch this episode on YouTube: www.youtube.com/@thejonsanchezshow
👉 To learn more about retirement planning and wealth management in Reno, visit: sanchezgaunt.com
Compliance Disclosure: This program is for informational purposes only and should not be considered investment, tax, or legal advice. The views expressed are those of the participants and may not reflect the views of Sanchez Gaunt Capital Management. Investing involves risk, including the possible loss of principal. Past performance is not indicative of future results. Always consult with a qualified financial professional regarding your individual situation before making financial decisions.
Whether due to divorce, the loss of a loved one, or personal choice, retiring alone presents distinct financial, emotional, and lifestyle considerations. Watch this episode as they discuss strategies to build a strong, independent, and joyful retirement without a partner by your side.
Key Takeaways:
- Understand the financial vulnerabilities of solo retirement and how to mitigate them.
- Learn the importance of creating a detailed cash flow plan and building multiple income streams.
- Discover the emotional resilience needed to thrive in solo retirement and how to maintain social connections.
- Explore the significance of estate planning and having a trusted network for decision-making.
- Gain insights into managing healthcare costs and planning for long-term care.
👉 Watch this episode on YouTube: www.youtube.com/@thejonsanchezshow
👉 To learn more about retirement planning and wealth management in Reno, visit: sanchezgaunt.com
Compliance Disclosure: This program is for informational purposes only and should not be considered investment, tax, or legal advice. The views expressed are those of the participants and may not reflect the views of Sanchez Gaunt Capital Management. Investing involves risk, including the possible loss of principal. Past performance is not indicative of future results. Always consult with a qualified financial professional regarding your individual situation before making financial decisions.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:06):
Good Wednesday afternoons. You welcome to the John Sanchez Show
on News Talk seven eighty.
Speaker 2 (00:09):
Can't wait.
Speaker 1 (00:09):
It's a pleasure to be with you in a pleasure
review with my partner, Jason Sanchez Gun Capital Management.
Speaker 2 (00:14):
That his name is in the name, yeah, the name
of the business.
Speaker 3 (00:17):
It's a word.
Speaker 4 (00:18):
It means an emaciated gaunt. Yes, get it all the time.
How do you spell that? I'm like, it's it's a
word in the in the dictionary there.
Speaker 2 (00:30):
What's the definition of it?
Speaker 4 (00:31):
Gaunt is thin, like emaciated, someone who's drawn right, malnourished.
Speaker 2 (00:37):
You're going to open your body gaunt?
Speaker 3 (00:40):
Yes? Yes?
Speaker 2 (00:40):
Or when the stock market correct.
Speaker 4 (00:42):
Right right exact, when the market's down six percent in
a vacuum.
Speaker 3 (00:47):
Yeah, So I want to jump right in here real quick.
Speaker 4 (00:50):
All right, I'm seeing more and more and more and
I'm not telling listeners pro con up down sideways, but
I literally just got a text on my phone about,
you know, be ready for the stock market crash of
twenty twenty seven or six. Like, there's a lot of
prognosticators out there, and I was just wondering sort of
(01:11):
what your thought is, as I know you're seeing similar
things is this eye candy?
Speaker 3 (01:16):
Is it true?
Speaker 4 (01:19):
You know, not true? I mean, obviously we're not sages,
but I'm just saying, what do you feel like? You're
getting a lot more of that as well, at least from.
Speaker 2 (01:27):
I'm not yet. I'm not yet.
Speaker 1 (01:30):
But you know, there's, as we joke between the two
of us, there's a reason that we have gray hair, right,
we didn't get this for lack of experience. And you know,
how do you how do you put value? And I'm
not saying this, folks, please, I'm not saying this to brag,
but these are the fact I don't care if you're
talking about your financial advisor or your doctor, whoever it is,
(01:51):
you don't get gray hairs and do something for you know,
combined between the two of us, fifty plus years and
not get a little using Jason's term, spidey senses, right,
what are you feeling? Because you can read the charts,
you can hear, you can read, you can do all that,
but nothing, nothing will ever take the place and is
it always right, no, but nothing will overtake the place
(02:13):
of years of experience.
Speaker 2 (02:14):
So Jason, to your point, this.
Speaker 1 (02:16):
Is why you and I again to use a marine analogy,
I've been kind of firing some of these shots across
the bow that something is lurking out there. And I'll
tell you what, brother, I don't know if you had
a chance to read it, because you and I were
so slamm today, but I sent you an article this
morning from Bloomberg.
Speaker 3 (02:33):
I did.
Speaker 2 (02:33):
I did. That was good bringing this exact topic up.
Speaker 1 (02:37):
And again, my experience, just like yours, tell me if
you or disagree, is when you start getting the Bloombergs
of the world, the CNBC's, the various influential money managers
and so on and so forth, just dropping these little hints,
pay attention to them. They may be often as far
(02:57):
as you know, next year, this year, maybe twenty twenty seven.
But what I'm saying, I'll cut right to the chase.
When something happens with one of these major technology powerhouses.
And I'm not picking one, but I'm gonna throw some
names out of defining what I mean by a major
powers then the videos, the Intel's, the open aiyes, which
of course not publicly traded yet, the Microsoft's, the Googles,
(03:20):
the metas, any of these major major companies that are
spending billions, if not hundreds of billions in AI. All
it's gonna take, Like we got a taste of it yesterday, Oracle,
what happened this company called the Information Deep into Oracle
Financials and went, you only have a fourteen percent profit
margin on your AI business. That's way below what anybody
(03:42):
thought you were making. And I went, oh, and what
happened to Oracle stock sold off just a couple bucks.
Speaker 2 (03:48):
It was no big deal.
Speaker 4 (03:49):
Both down seven percent right as the news came out.
But yeah, that rally background, but a much better.
Speaker 1 (03:56):
And a rose back of it today. But all it's
gonna take is one of those type of stories to
be true, or you get a company that comes out
and goes, we're downgrade, we're lowering our earnings expectation, one
of these pure AI type of plays where debt, we're
lowering our earnings expectation. In other words, we're not making
money in AI yet. Then the cards, the house of
(04:17):
cards will begin to fall. And that's exactly what this
Bloomberg story went on to talk about, was even more
in detail.
Speaker 2 (04:23):
Did you see that diagram where you've got these.
Speaker 1 (04:26):
Arrows right going from Navidia's in the center, and you've
got all these arrows pointing to open ai and all
these you know, advanced micro devices and open Ai and
blah blah blah, and it's like it's all intertwined.
Speaker 2 (04:38):
It's like a big spider web.
Speaker 1 (04:40):
And all that's going to take is one of these,
one of these companies or something to happen and they
will come tumbling. I hope to god it doesn't. But
you and I touched on this on Monday Is night.
Is it going to be nineteen ninety nine all over again?
The dot com bust? I think it will be at
some point, and then it's going to clear the feet
(05:00):
all these little companies and stuff.
Speaker 2 (05:02):
They're going to be, you know, gone. You'll you'll be
left with.
Speaker 1 (05:05):
The big boys that some of the names I just
mentioned in my opinion. But then it'll clean house and
then they'll start building it up again.
Speaker 2 (05:12):
So sorry for the long winded answer, but.
Speaker 3 (05:15):
You no, let's the answer I was looking for. Yeah,
I mean, and that's already taken.
Speaker 2 (05:18):
We have already taken thanks to you. Corrective.
Speaker 1 (05:21):
Oh, I guess I'll take a little credit some corrective
defensive action in our internal portfolios and some you know,
some of the things that we do because you never
know when this is going to happen, and so yes,
to your point, I do so.
Speaker 4 (05:33):
You yeah, you And remember, like you know, two thousand,
as odd as it looks, you look on a chart
and it was this big versus the longer run. But yes,
you know, the the the names that do what they
do and go down seventy percent could be thirty baggers
off of below. It's just a matter of you know,
(05:54):
looking inside of your portfolio. Everyone in saying if this
thing fell fifty sixty seventy percent, do I still think
I would continue to love it? Right whereas you love
your spouse despite any you know, because they I just had, I.
Speaker 1 (06:13):
Just had won't Do you remember how many analysts said
that in the dot com bubble verse?
Speaker 2 (06:17):
Yeah, oh my guess it is.
Speaker 3 (06:19):
And again if you I mean, I don't know what
the number is.
Speaker 4 (06:22):
I mean Amazon's had Amazon's had what five eighty percent
draw downs since it started, right like they happen, And
so either make that you know, you either have tight
cell stops, which is something that you get just closer
to where you own the stock or where it currently
is now you can put a cell stop and read
(06:43):
about it. There's stell stop limits versus cell stop orders.
I'm not telling you to do either, but go do
your research before you enter any kind of order.
Speaker 3 (06:50):
But always use limits.
Speaker 4 (06:52):
And start to keep tighter bands on your trades, necessarily
your investments, because remember, investments are things that you know.
Speaker 3 (07:04):
Like your house.
Speaker 4 (07:05):
If your house goes down fifty percent, you're probably not
going to just sell it, right you, unless you're forced to.
Speaker 3 (07:11):
But certain stocks, right, they may be leases.
Speaker 4 (07:14):
You think, oh, I love this thing, and then it's
down thirty five percent in your face. I promise you
may love it a heck of a lot less, it's
probably more of a trade. So times would like this
when volatility even vix at sixteen Right now, markets are calm, Yeah,
they can get unculmed pretty quickly, and so I think
just keeping a close eye on some of those more
(07:35):
speculative trades is a wise idea great advice.
Speaker 1 (07:39):
And again it will take one one bad story, one
bad earnings report, one bad something, and everybody you know
you remember, you know Jason's old world of the hedge
fund world. Those are the big boys, right. They can
dump things faster than you and I can blink an eye,
right Ray, Jason, I mean, yeah, you're long a million
shares of X y Z company, and you guys go,
this is bad the button. Yeah, you're got, You're got,
(08:02):
and everyone else is left hold in the bag. I
mean that's the big boys side and the unfair side
of Wall Street. The you know, the big boys. They
can move so fast while you're hard at work, you know,
in the office, and you look at your phone and
you go, is I mean I remember this in ninety nine,
two thousand jacent people go and that's when cell phones first,
you know, really came out. Like is this right that
you know, pets dot com went from seventy five this
(08:27):
morning when I went to work and it's now down
to twenty dollars.
Speaker 2 (08:31):
Oh my gosh, right when we're in the thick of things.
Speaker 1 (08:34):
And to conclude, Jason, this Bloomberg article, I think one
of the biggest takeaways that I extracted from it was
everyone's right now is going?
Speaker 2 (08:45):
But this time is different? Right? How many times a
year this time is different?
Speaker 1 (08:50):
But the article brought up an excellent point, and that
was this this time is different but for the negative,
And that is number one. You've got so many different
levels of money being lent and borrowed and so on
and so forth. But you also have huge sums of money.
Jensen Wong the Great Interview this morning, fifteen twenty minute
(09:13):
interview on CBC dot Com. Highly recommend you listen to it.
But he even said, and don't callt me to the
exact amount, but.
Speaker 2 (09:20):
God, what did he say?
Speaker 1 (09:20):
It was like thirty or forty billion it's costing to
get a data processing center up and running. I mean,
if you look at everything, folks that these aren't this
is what scares me. These are not small numbers, right,
This isn't some kids starting grocery dot com in the
basement of his house. These are physical assets, right, These
these massive hundred two hundred acre data centers that are
(09:44):
out there and in the chips that people are borrowing
and leasing money and on. And there's a lot of
tangible assets that are invested in these, in these in
this new technology where we didn't have that in the
dot com.
Speaker 2 (09:56):
I shared a story with Jason the other day. You know,
I was you.
Speaker 1 (10:00):
I started in radio nineteen ninety seven when I lived
in Bakersfilm and and then when I went independent in
ninety nine, I really got serious about the radio side
of it, and I formed I formed a California corporation.
Speaker 2 (10:12):
It was called Stocktalkamerica dot com.
Speaker 1 (10:14):
And I had this beautiful stock certificate sitting in my
office and I can't even remember how many, you know,
hundreds of thousands or maybe even millions of shares that
I created when I formed this, this this corporation worth
you know, point.
Speaker 2 (10:27):
Zoto zero zero zero one. And the reason I'm bringing
that story up.
Speaker 1 (10:31):
Jason's laughing right now, is that's how that's what happened
in the dot com era, right Jason, You would start
something and all you had to do is put dot
com at the end. And whether you're a public, a
trader or not, it's like everyone's just throwing their money.
Speaker 3 (10:41):
Please AI after it now.
Speaker 2 (10:43):
Now it's AI after.
Speaker 1 (10:44):
Yes, it's oh man, you got me jumped right into
this thing.
Speaker 2 (10:49):
I didn't get a chance to even warm up.
Speaker 1 (10:51):
I feel like I just you know, ran the twenty
six miles and we're only first segment into the show.
Speaker 3 (10:55):
Well, you can stretch during the break and then I
will stretch.
Speaker 1 (10:57):
The break and get some all right, Well, we had
a lot of things to talk to you about.
Speaker 2 (11:01):
Marco was decent today.
Speaker 1 (11:03):
Jason will give us his great recap when we come
back with let me tell you our topic after the
stock market recap. You know you think about this, folks,
and you hear us chat about this, and those of
you that are in retirement, I'm sure you'd be shaking
your head if I could see you right now. And
that is this retirement is supposed to be your reward,
right for all those years of hard work and waking
up to an alarm clock, etc. But what we're going
(11:24):
to be talking about this afternoon is this, what if
that retirement is not with your loved one i e.
Your husband, wife, boyfriend, girlfriend, but you have to do
it alone. This is what we call solo retirement. So
this afternoon, what we're going to do is we're going
to explore this topic with you, the solo retirement. We're
going to go over the emotional, the financial, the lifestyle
changes facing many of you right remember this. You know
(11:48):
what do they call it, Jason the the Gray divorce
or something like that. How many people I mean huge
percentage that get divorced after fifty they never remarry again.
Speaker 2 (11:58):
They're the solo retiree ones that are going to go through.
Speaker 1 (12:01):
I mean, that's part of society with the high divorce
rate and stuff. But what we're gonna do, and like
you know, we're gonna lay this out and many of
you are gonna shake your head.
Speaker 3 (12:07):
Yeah.
Speaker 2 (12:07):
But most important, we're gonna tell you how do you
get through this? Right?
Speaker 1 (12:09):
How do you build a strong, independent and joyful retirement
without that partner by your side? It can be done,
but once again, we're gonna give you some great steps
to do that. So the solo retirement will be our
topic here shortly or first, it's turned over to Jack Saban.
Speaker 2 (12:21):
He's got news trafficking weather. Hello Jack, the final Welcome.
Speaker 1 (12:29):
Back to the John Sanchez Show on News Talk seven
eighty k oh with Jason Gone. All right, here's how
we finished up A whopping I hope you're sitting down, folks,
A whopping one point loss on the S and P
five hundred or I mean on the Dow Jones and
Digital average.
Speaker 2 (12:40):
See, I'm screwing up. I get.
Speaker 1 (12:41):
First of all, I should stop. I need to apologize
to Kristin and Jack again. Why did I say Kristen
or Jack was going to do in traffic? I have
no clue, So I apologize to both both. All right,
Now let's rephrase. On the market side of things, you
just got me so fired up, Jason, I.
Speaker 2 (12:56):
Got to get I did.
Speaker 3 (12:58):
It's my fault.
Speaker 1 (12:59):
I love it all right. So once again, one point
loss on the Dow. Forty six thousand and six oh
one was our closing level. But guess what, folks enjoy
it while we can a record setting day again for
the Nasdaq in the SMB five hundred. Nice day on
your Naszac Jay two to fifty five, gain one point
one percent twenty three thousand and forty three Nazek Cup
(13:21):
thirty eight point five eight percent to a finish up
six thousand and seven to fifty three. On the commodity side,
we gained eighty three cents on oil sixty two fifty
four or fifty seven of baro. Excuse me, okay, Jay,
I'm gonna stop on. Well, let me hit the bomb mark.
I want to come back to gold goosegn ten year shirt.
I've guy saw the bomb Mark has been really quiet
since the government's been shut down. It's like the launchers
(13:41):
want to do anything without any government reports.
Speaker 2 (13:43):
It's it's kind of nicey.
Speaker 3 (13:45):
Get Columbus Day off to those jerks.
Speaker 2 (13:47):
Yeah they do, Yeah, we do. I know.
Speaker 1 (13:48):
I was talking to a friend of the dinky business today.
He's like, yeah, I'm not gonna be here on minute.
Speaker 3 (13:52):
Yeah, correct, So why he goes.
Speaker 4 (13:55):
Because Columbus liked bonds. He did not like stocks. That's
an unknown little fact, but it's true. He used to
talk a lot about bonds when he was sailing across.
Speaker 1 (14:03):
Well, all I know is I looked on our calendar
because the staff did not mark it off.
Speaker 2 (14:07):
I'm like, darned. Then I went to the New York Nope,
we're working on Monday.
Speaker 4 (14:10):
So I have googled NYSE market hallidays more times than
I can tell.
Speaker 2 (14:14):
Yeah, exactly. All right, let's talk gold very quickly, and
then we'll get to our topic.
Speaker 1 (14:18):
The solo retirement sixty six dollars and seventy cent gain
on gold, four thousand and forty dollars and forty cents
announce laid on the audience.
Speaker 2 (14:27):
My friend, what the heck is happening?
Speaker 4 (14:30):
I mean, it's just like I said, it's all the things.
It's got momentum, it's got all the themes that you
can get behind, as far as concerns about governments and
debt and all sorts of things. The only thing i'd
point out is if you really look at correlation, the
dollar has been strengthening over the last week or two.
(14:53):
It looks like it wants to go higher, which means
stronger dollar historically correlates to lower gold prices, right, and
so keep an eye out for it. Again, I'm not
calling the top of gold or anything, but watch the
momentum there that you know, people, once you get to
these big round numbers, you tend to get a little
bit of a chase. But if the dollar starts moving higher,
(15:16):
it will cause gold weakness. It's just going to be
a matter of time. So watch the DXY index. That's
what I follow for the dollar. It's here at ninety
eight eighty five, but yen's been week, Euro's been week,
so just keep an eye on that. For all those
gold bugs. Silver has been strong too. So it's just momentum.
It fits every single panic theme you can have right now,
(15:39):
and it keeps going higher.
Speaker 1 (15:42):
I'm sorry if I uttered something while you're doing that
great summary, but I got to bring this up. I
just got a news alert from one of our industry issues.
It doesn't look like it's breaking news. I just went
to CNBC dot com story's two hours old, but let
me pause real quick. Jay title is IRS furloughs nearly
(16:02):
half of its workforce due to the government shutdown. IRS
today said it was furlowing nearly half of its workforce
due to the ongoing government shutdown.
Speaker 2 (16:10):
Now let me pause right there.
Speaker 1 (16:12):
For those of you that file your taxes on April fifteenth,
you don't care about this, right, you're probably cheering. But
for those of us in business that will be file extensions,
quarterly taxes are due, etc.
Speaker 2 (16:21):
This is significance. So let me continue.
Speaker 1 (16:24):
About thirty four thousand IRS workers are being furloughed, according
to the Tax Agency. Another thirty nine thousand and eight
to seventy employees, representing fifty three point six of the workforce,
will remain on the job. Due to the labs and appropriations,
most IRS operations are closed, the agency said today. IRIS
wide furlough began October the eighth for everyone already identified,
(16:46):
except for exempt employees. Employees are not exempt or exempted
are furloughed and placed on a non pay and non
duty status until further notice. Holy However, all employees should
plan to report to work for the next tour of
duty for Lord IRS workers were told in a letter
that they will receive back pay when the shutdown ends. Well,
(17:07):
I don't know if they can clearly say that, because
that's one of the big issues folks in this government shutdown,
as we've been talking about. Congress has to vote on
paying everybody back. It's not a guarantee. That's what Trump
keeps threatening. And if you look at the law when
the government was shut down again last time in twenty eighteen,
they made it a new law that when if a
(17:28):
government shutdown occurs again, when Congress comes back appropriates the funds,
they have to put certain verbiage in there that the
government employees are going to get their back pay. That
right now is missing. That right now is missing. And
this is why this is a very serious situation. Whether
you like the government, you hate the government, whatever the
case is, there's a good chance that you could have,
(17:48):
you know, hundreds of thousands of workers that never get paid.
I don't think that will happen. I think eventually they will.
But you know, Jason, I'm sure you've seen it. There's
a lot of stories floating around right now where people
are really specially like military people and things, they're really
starting to hurt because they had a paycheck that was
due I think yesterday or the day before.
Speaker 2 (18:07):
They didn't get it.
Speaker 1 (18:08):
And they got another one due like in a week,
and you know, those government's back, they're not going to
get that one either. So now you're seeing the i
RS go, Jason, this is a serious situation. Also, we
had this discussion last week if this was ever going
to happen with Dwight of Hyland's mortgage kind of you know,
again looking into the crystal ball, that what happens if
(18:28):
the IRS shuts down, and he said, it's a disaster, John,
because they can't get tax transcripts which are required.
Speaker 2 (18:34):
For a mortgage.
Speaker 1 (18:36):
You know, the lending world basically comes to a halt
right and so on and so forth. So but anyways,
this last thing and then we'll go to break fur load.
IRS workers were told in the letter they'll received back
pay when the shutdown ends. The letter came a day
after the Internal Draftman Will suggest that that the Trump
administration might question its obligations there it is to get
back paid to some for load employees forlows Yeah, no,
(18:58):
no on so they already had a mass lay off
there reduced this workforce by about twenty five percent from
one hundred thousand down to seventy five thousand now, and
now you just furload, you know, half of that seventy
five so the thirty four thousand.
Speaker 4 (19:11):
Now, maybe he'll suggest a flat tax and then we
can just like get rid of the rest of them.
Speaker 2 (19:17):
Would that just be something? All right?
Speaker 1 (19:20):
Well, there's that breaking news there. Okay, my friend, you're
up to date on the market. You said everything you
want to say. Now we're gonna switch up talk about
solo retirement. Right, different world, folks. If you're gonna find
yourself in retirement due to loss of a loved one,
a divorce.
Speaker 2 (19:35):
Something like that, there's gonna be some things you need to.
Speaker 1 (19:37):
Be thinking about a little bit differently, and we're going
to be right here by your side helping you do that.
Speaker 2 (19:40):
That's what we do for Northern Nevada.
Speaker 1 (19:41):
All Right, it's turned it over now to Jack Saban,
who's got news, traffic, and weather. Helijack, Welcome back to
the John Sanchez Show on Newstock seven to eighty koh
with Jason Gaunt. Once again, our topic we're going to
delve into now the solo retirement once again. We lost
one on the now record close for the S and
P and then as that is that gaining two fifty
(20:01):
five SMP higher by thirty nine. All right, let's talk
about solo retirement. What the heck am I talking about? Well, again,
this is what many in society are facing these days,
either a to a due to divorce as I'll share
with you a stat or be the loss of love
one or you know, Jason all about you. But I
periodically still come across people that have never been married
(20:23):
in their life for whatever reason they want to. You know,
they're not a gay, they're not gay, they're not a lesbian.
They just like I just enjoy being by myself. I
don't need anybody in my life. Right, do you come
across that veryaltion?
Speaker 4 (20:34):
I do, Yeah, I mean, you know, I mean I
know that the millennials, et cetera are waiting on the
heck of a lot longer to get married, right, trying
to more life experiences and things. But clearly the topic
tonight is more on the other side of that coin
of you know, older folks that make either make the
decision to separate or get divorced, or even sort of
(20:55):
to your point, decide not to break into jail in
the first place.
Speaker 3 (21:00):
You know, I had a guy that I worked with.
He used to always use that pune and it was
the funniest thing ever.
Speaker 4 (21:05):
Someone would tell them I'm getting married and they'd be like,
why you break it into jail?
Speaker 2 (21:10):
Can I touch that?
Speaker 3 (21:11):
Shout out to Dan Ferrell.
Speaker 2 (21:12):
There you go there that one? All right?
Speaker 1 (21:15):
So if you look at the statistics, and I'm trying
to give you the source other than just you know,
via AI, but based upon twenty nineteen data, and I've
seen this few sites, so again I can't give you
a specific source, but I think this is very accurate.
About thirty six percent of all divorces in the US
involved at least one adult age fifty year older, so
(21:36):
roughly up third right, This is kind of go with that, Okay,
So the odds are, you know, many of you, if
you're already not there, you could find yourself living a
solar retirement. So what Jason and I put together for
you is this a ten point checklist of not only
what these challenges are that a solo retire reefaces, but
most importantly, what the solutions are. Jason, I'll take the
first one, all right. So here's our challenge. Okay, we're
(21:58):
going to call these challenges. So the topic is financially
vulnerable on a single income strain. Okay, so what's the challenge?
Only one social Security check, no shared housing expenses, and
then you can really say no shared expenses anywhere.
Speaker 2 (22:11):
Right, You've got to hire per person.
Speaker 1 (22:13):
Expense makes of course solar retirement even much more expensive
than if you had two incomes coming in. And we
all know if you have two people in the household,
doesn't mean your expense is double. But if you have
two incomes, that feels really nice. So what's our solution
to financial vulnerability? Solution is this, like we harp on
all the time, create a detailed cash flow plan using
very conservative assumptions. Maybe the lay social Security into the
(22:36):
maximum of age is seventy so you can maximize that
monthly benefit. Build multiple streams of income. This we always preach,
you know, dividends andnuities, rentals, part time businesses, part time consulting,
whatever the case may be. And also consider long term
and guaranteed income products for peace of mind.
Speaker 2 (22:52):
Right, last thing you.
Speaker 1 (22:53):
Want to do, right, Jason boy, this is a stories
I could share on this one. You're by yourself in retirement,
and you got everything subjected to the market, and you
have a major market correction, and now you're facing a
thirty forty percent decline, which can happen very easily, and
you're going, oh my god, I have nothing to fall
back on, right, I don't have a spouse of social
security check coming in or maybe there's you know, spouse
(23:14):
is still working or anything. It's all on your shoulders,
and so you've got to be very very careful of that.
Speaker 2 (23:19):
And I guess we could say, you.
Speaker 1 (23:20):
Know, you may want to consider being a little bit
more conservative in your investments and very diversified, et cetera
when you are solo, so.
Speaker 4 (23:27):
Yeah, right, or you know, flip the other way and
be incredibly aggressive because of the all on you and yeah, yeah,
but yeah, it is. It typically when we're using eighty
five percent of costs if someone passes away, so at
least shows you, Yeah, I mean, it's not.
Speaker 3 (23:43):
Fifty to fifty. It's more expensive to.
Speaker 4 (23:46):
Live on your own because you know, you probably not
buying half of the house or driving half of the
car that you normally would if you were married. You've
got a car and sometimes lots of families only have one.
Speaker 1 (23:57):
So well, let's take a little little bit deeper, brother,
and that is when it comes income tax time. Run
your taxes is joint versus running it as single and
watching it.
Speaker 2 (24:08):
And that's a huge difference for many.
Speaker 4 (24:10):
That's a huge shock that people need to be aware
of too, of someone passing away or a divorce sort
of year two, your income tax bucket changes a lot,
so be.
Speaker 1 (24:21):
It depends upon what part of what time of the
year you got a divorce, whether you're going to be
able to file a single or a joint. And also
if you sell a home a primary residenceere you enjoy that,
you know, five hundred thousand dollars tax exclusion.
Speaker 2 (24:33):
If you're married, well, guess what.
Speaker 1 (24:35):
I won't go into the rules right now, talk to
your CPA or give us a call at the office.
But if you're getting divorced early part of the year,
you could potentially be viewed as well.
Speaker 2 (24:45):
Let me rephrase this.
Speaker 1 (24:46):
You could be married through roughly three quarters of the year,
but because you got a divorce before a certain day
or certain month of the year, IRIS looks at it
as if you were divorced the entire year, meaning you
only get the two hundred and fifty thous dollar tax
exclusion versus five hundred thousand.
Speaker 2 (25:04):
Interesting.
Speaker 3 (25:04):
Yeah, that's news to me. I didn't know that you
get to choose because it hit me.
Speaker 2 (25:11):
It hit me.
Speaker 4 (25:12):
Listen to the John Sancho Show. We will speak from
a life that's really well, that's right.
Speaker 1 (25:17):
All right, let's go to number two. No automatic advocate
or decision maker.
Speaker 2 (25:21):
Right.
Speaker 1 (25:21):
We all love to talk to people. Jason, I were
chatting about this during the break. How nice it is
be able to talk to your spouse or your business partner, uh,
you know, having someone to talk to.
Speaker 2 (25:29):
Right.
Speaker 1 (25:29):
So the challenge when you're a solo retiree is without
a spouse, there's no built in you know, power of attorney,
no healthcare proxy, no executor to make the critical decisions,
no one to really bounce ideas off of. But when
we talk to financial side, and you know, I'm kind
of leaning on the estate planning side when I mentioned
power of attorney, healthcare proxy, those are things. Of course
most people, hopefully you will have a you know, you've
(25:49):
done your estate plan, most likely you will name your
spouse to be that power of attorney or that healthcare
decision maker or executor or so on and so forth.
You don't have a spouse. Guess what now you got
to go outside. You know that box. So what is
the solution when it comes to an automatic advocate or
decision maker. Here's what we like to say. Choose a
trusted friend. Choose someone that's got some good business experience. Uh,
(26:11):
choose a relative. I'm not too keen on that one,
for various reasons. You can also hire a professional fiduciary
right legally document the powers of attorney, the healthcare directives,
the successor trustees, all of these things again through a
solid estate plan, and please folks review them, update them annually,
especially if you have major life changes going on. You
(26:33):
buy an asset, you get rid of an asset, all
these different life trigger events that trust needs to be
reviewed and in many cases amended. But boy, Jason, this
is a serious one. You and I are very serious
when it comes to our clients. It's about a state
planning then, and oh man, you don't have this in
there and could be a disaster, especially becoming more and.
Speaker 4 (26:51):
More important to day by day having that a state
planning trust, et cetera. So yeah, all right, yeah.
Speaker 3 (26:58):
We got time.
Speaker 4 (26:59):
May home, and it's right. That's something too, right that
oftentimes is something that you know someone. You don't have
two people doing the work, even though it does tend
to fall to one of the two anyway. You know,
she may like to do it or he may like
to do it, but it all falls on you if
you're solo. And that's something that it gets harder as
you get older, too.
Speaker 1 (27:16):
I gotta tell you, I felt like less of a
man today at about one o'clock than I did it
twelve do te came out of my office. My wife
was changing the toilet seat lids. I'm like, this is
really bad. I didn't even have time to do this,
and my wife is doing this and she got it done,
(27:36):
and that she's yeah, she can do.
Speaker 2 (27:38):
A lot of things like that.
Speaker 1 (27:39):
You get the squishy ones or no, no, no, no, no,
you can't stand this.
Speaker 2 (27:43):
No, okay, we have being in a return.
Speaker 4 (27:45):
Being like a being a grandma's house. Yes, auto the
auto lids though, mars right, don't.
Speaker 2 (27:52):
Give me a bow? Dat all right? Number three, greater
burden of home maintenance.
Speaker 1 (27:56):
Like Jasons mentioned, you know you struggle, I'll let you
continue out of his path.
Speaker 4 (27:59):
They you're dumb but yeah, I think we covered it.
It's sort of along the lines unless you've got a
wonderful you know, a wife or a.
Speaker 2 (28:08):
Skip that one.
Speaker 1 (28:09):
All right, Number four before we go to break loneliness
and social isolation.
Speaker 2 (28:12):
Boy, this is a serious one.
Speaker 1 (28:14):
You know, living alone and studies have shown this folks
can lead to depression, poor health, cognitive decline. I'm not
a doctor medical or psychological or psycho psychic type of person,
but I've seen it happen with family members.
Speaker 2 (28:27):
I've seen it happen.
Speaker 1 (28:28):
I know when my father when my mom died, you know,
years ago, and he had about a two year time
period Jason before he remarried. I was very concerned about
that as a as a son, and as I know
my siblings were also. You think about it, You're staring
at these four walls all by yourself, and you have
nobody to talk to. You got no one to help
you again if you trip and fall. So there's a
lot of things and ultimate leads to that depression. And
(28:50):
we know depression can sometimes kill people. Right, So solution
with this very simple get yourself up right. You hear
Jason and I talk all the time, have a reason
to get out of bed when you're reading what is
my reason to get out of bit? Proactively schedule social routines,
joint clubs, volunteer, take classes, mentor people, do whatever you
want to do. Get into dinner groups. Use technology. You know,
(29:10):
you have this great thing called zoom and other you know,
videotype or programs. Meet up with people. They don't need
to be in your backyard anymore. Then talk to kids
anywhere in around the world or your friends, and so
just that connection alone. I mean, think about what we
all went through in COVID. We all felt a lot
of isolation and it was not healthy.
Speaker 2 (29:26):
Remember that, Jason.
Speaker 1 (29:27):
A lot of people you know, were committing suicide and
getting addicted to drugs and alcohol because of that loneliness.
And this is a very serious situation when it comes
through solo retirement, you got to be involved and keep yourself,
both your mind and your body of course active. All right,
we'll come back to point number five. Let's turn it
over to Kristen Snow right now.
Speaker 2 (29:46):
Traffic. See Kristen, I got to write this time.
Speaker 4 (29:48):
See but invest in its owns money guide that they.
Speaker 1 (29:55):
Do and the audience knows that, yes, Sory kind of
chat off the off air there, welcome back to the
John Sanchez Show. All right, we're talking about the solo retirement.
I was putting my finger up to sh I.
Speaker 3 (30:06):
Know, well, these are all planning tools that we use.
So we're talking about them. You know, you get a
real behind the scenes, you know.
Speaker 2 (30:13):
Come on, that's it, Yeah, that's it. All right?
Speaker 1 (30:16):
Financial again. Ten challenges of solar retirement. Number one, we
said the financial vulnerability. Right you, single income strain, no
automatic advocate or decision maker, no one to bounce ideas
off of. And again, when you find yourself incapacitative physically, mentally.
Speaker 2 (30:31):
You don't have anybody, but what do you do? Again?
Speaker 1 (30:33):
This is where you build your network, a trust of friends, fiduciaries,
professional fiduciaries, et cetera. Number three, the greater burden of
home maintenance that stands alone, the loneliness and isolation. Another challenge.
Let's go to number five. Higher cost of healthcare. Right,
and specifically I'm talking about long term care. Right, you
have no built in caregiver. This is a big challenge.
(30:54):
Nothing since shivers up my spine more, Jason, when I'm
dealing or we're dealing with one of our widows, man
or woman, and they said, no, I don't need long
term care. My son promised me he was going to
change my diaper when if I got to that point,
and on and on. I'm like, please, don't put that
burden on your children. Right, plan ahead, plan ahead. When
you're by yourself in the solo retirement, you had a
plan ahead for him, home care, the assist of living,
(31:16):
you know, research, continually, continue to research communities, right, there
are some phenomenal communities here in northern Nevada. It's like
living in an apartment complex. But man, you got you know,
all kinds of activities and people to talk to and
exercise rooms and stuff.
Speaker 2 (31:33):
They're great.
Speaker 1 (31:34):
But you know, as we're a big advocate of the
long term care, insurance is something many of you should
consider if you're going to find yourself in this situation.
The cleaning, how about this, You know, it's not a
bad idea to think about and talk to your financial
advisor about budgeting in someone to help you clean, maybe.
Speaker 2 (31:47):
Run some errands. So you're gonna get to a point.
We have one client that's in his nineties.
Speaker 1 (31:51):
I'll say, Howard Jason, So you know who I'm talking about,
you know, guys over ninety and he just lost his license,
so like in the last year or so, right, So.
Speaker 2 (32:01):
Most people don't want to be driving.
Speaker 1 (32:02):
It, you know, in their eighties or nineties, and so
you need a little bit of help there because you
don't have that spouse that does it take on number.
Speaker 2 (32:08):
Six one man.
Speaker 4 (32:09):
Yeah, the and you've touched on this and several of
the topics is the the emotional resilience, your identity, who
are you? You know, sometimes when we talk to ourselves
we end up going into a death spiral in terms
of negativity or excess positivity.
Speaker 3 (32:26):
Right.
Speaker 4 (32:26):
It's it's tough to not have a a center of
some kind that you you know, so you got to
make sure that you go out and put yourself out
there where you're able to interact with folks if it's
mentoring or teaching or heck, gardening or clubs or you
name it. Just kind of getting out there to make
sure that you have a again, a reason to get
(32:48):
out of bed and a reason to do what you do,
especially in your later years.
Speaker 3 (32:52):
So it's just it's really.
Speaker 2 (32:53):
Important to have that.
Speaker 1 (32:54):
Dub I have seen this Jason with with more so well,
I guess I can see I can. I've seen it
with divorces and widows, and that is after you get
past the trauma and the emotional maybe a financial shock
of you know, going into retirement as a solo. The
ones that I see that one day they wake up,
they kind of grasp it right, They're like, you know what,
(33:16):
there's nothing I can do about it. Again, divorce or death,
nothing I can do about it. But what I can
do is I can change my attitude and go, you
know what, this is my new I'm turning over a
leaf to use that say, right, this is my new
lease on life. I've always wanted to, as you said,
join a club or or or do whatever I wanted
to do.
Speaker 2 (33:32):
Now you have that chance.
Speaker 1 (33:33):
And it's amazing how you can make it through on
the solo side taking that attitude versus man I you know,
I mean, I missed my spouse, you know, death or divorce,
whatever the case is.
Speaker 2 (33:44):
That's a human emotion.
Speaker 1 (33:45):
But if you again, the mental side comes in and
don't be afraid, don't be afraid to go get some
some professional help when it comes to that, especially on
the divorce side of things. The last ones that we
have the estate legacy and end of life planning very important.
When you're in a solo retirement, you again work with
the estate planning services, et cetera. Autonomy and flexibility. Again,
independence can feel liberating, but also, as we said, it
(34:06):
can be somewhat on the scary side. Get involved in
the community connection side, and then insurance and longevity risk.
You know, a long life is a blessing, but at
the same time, without a partner's income, it can be
financially devastating.
Speaker 2 (34:18):
Right. So the last thing that I want to kind.
Speaker 1 (34:20):
Of leave you with, and I'll wrap it up with Jason,
is this the key to thriving in a solo retirement.
The key to thriving in a solar retirement isn't doing
it all by yourself. You have to plan ahead, surround
yourself by people that you trust, that you love, and
living with purpose every single day. Those are the way
that we summarize everything.
Speaker 3 (34:43):
Much more. I can say, Man, I'm pretty well loved.
Speaker 1 (34:46):
I like being able to keep Jason. That tells me
I did a good job, which is rare. That's a
lot of fun. God bless everybody. Have a great afternoon.
Speaker 2 (34:54):
We'll see tomorrow on the John Sanchez Show.
Speaker 1 (34:56):
John Sanchez is a registered investment advisor, and the opinion
expressed by Sanchez Gone Capital Management LLC on this show
or their own and do not reflect the opinions of
News Talks seven eighty or its pairing company, Cumulus Media.
All statements and opinions expressed are based upon information considered reliable,
although it should not be relied upon. As such, any
(35:16):
statements or opinions are subject to change without notice.
Speaker 2 (35:19):
Information presented is for educational purposes.
Speaker 1 (35:22):
Only and does not intend to make an offer or
solicitation for the sale or purchase of any specific securities, investments,
or investment strategies. Investments involve risk, and, unless otherwise stated
or are not guaranteed.
Speaker 2 (35:35):
Information expressed does not take into account your.
Speaker 1 (35:37):
Specific situation or objectives, and is not intended as recommendations
appropriate for any individual. Listeners are encouraged to seek advice
from a qualified tax, legal, or investment advisor to determine
whether any information presented may be suitable for their specific situation.
Speaker 2 (35:53):
Past performance is not indicative of future performance.
Good Wednesday afternoons. You welcome to the John Sanchez Show
on News Talk seven eighty.
Speaker 2 (00:09):
Can't wait.
Speaker 1 (00:09):
It's a pleasure to be with you in a pleasure
review with my partner, Jason Sanchez Gun Capital Management.
Speaker 2 (00:14):
That his name is in the name, yeah, the name
of the business.
Speaker 3 (00:17):
It's a word.
Speaker 4 (00:18):
It means an emaciated gaunt. Yes, get it all the time.
How do you spell that? I'm like, it's it's a
word in the in the dictionary there.
Speaker 2 (00:30):
What's the definition of it?
Speaker 4 (00:31):
Gaunt is thin, like emaciated, someone who's drawn right, malnourished.
Speaker 2 (00:37):
You're going to open your body gaunt?
Speaker 3 (00:40):
Yes? Yes?
Speaker 2 (00:40):
Or when the stock market correct.
Speaker 4 (00:42):
Right right exact, when the market's down six percent in
a vacuum.
Speaker 3 (00:47):
Yeah, So I want to jump right in here real quick.
Speaker 4 (00:50):
All right, I'm seeing more and more and more and
I'm not telling listeners pro con up down sideways, but
I literally just got a text on my phone about,
you know, be ready for the stock market crash of
twenty twenty seven or six. Like, there's a lot of
prognosticators out there, and I was just wondering sort of
(01:11):
what your thought is, as I know you're seeing similar
things is this eye candy?
Speaker 3 (01:16):
Is it true?
Speaker 4 (01:19):
You know, not true? I mean, obviously we're not sages,
but I'm just saying, what do you feel like? You're
getting a lot more of that as well, at least from.
Speaker 2 (01:27):
I'm not yet. I'm not yet.
Speaker 1 (01:30):
But you know, there's, as we joke between the two
of us, there's a reason that we have gray hair, right,
we didn't get this for lack of experience. And you know,
how do you how do you put value? And I'm
not saying this, folks, please, I'm not saying this to brag,
but these are the fact I don't care if you're
talking about your financial advisor or your doctor, whoever it is,
(01:51):
you don't get gray hairs and do something for you know,
combined between the two of us, fifty plus years and
not get a little using Jason's term, spidey senses, right,
what are you feeling? Because you can read the charts,
you can hear, you can read, you can do all that,
but nothing, nothing will ever take the place and is
it always right, no, but nothing will overtake the place
(02:13):
of years of experience.
Speaker 2 (02:14):
So Jason, to your point, this.
Speaker 1 (02:16):
Is why you and I again to use a marine analogy,
I've been kind of firing some of these shots across
the bow that something is lurking out there. And I'll
tell you what, brother, I don't know if you had
a chance to read it, because you and I were
so slamm today, but I sent you an article this
morning from Bloomberg.
Speaker 3 (02:33):
I did.
Speaker 2 (02:33):
I did. That was good bringing this exact topic up.
Speaker 1 (02:37):
And again, my experience, just like yours, tell me if
you or disagree, is when you start getting the Bloombergs
of the world, the CNBC's, the various influential money managers
and so on and so forth, just dropping these little hints,
pay attention to them. They may be often as far
(02:57):
as you know, next year, this year, maybe twenty twenty seven.
But what I'm saying, I'll cut right to the chase.
When something happens with one of these major technology powerhouses.
And I'm not picking one, but I'm gonna throw some
names out of defining what I mean by a major
powers then the videos, the Intel's, the open aiyes, which
of course not publicly traded yet, the Microsoft's, the Googles,
(03:20):
the metas, any of these major major companies that are
spending billions, if not hundreds of billions in AI. All
it's gonna take, Like we got a taste of it yesterday, Oracle,
what happened this company called the Information Deep into Oracle
Financials and went, you only have a fourteen percent profit
margin on your AI business. That's way below what anybody
(03:42):
thought you were making. And I went, oh, and what
happened to Oracle stock sold off just a couple bucks.
Speaker 2 (03:48):
It was no big deal.
Speaker 4 (03:49):
Both down seven percent right as the news came out.
But yeah, that rally background, but a much better.
Speaker 1 (03:56):
And a rose back of it today. But all it's
gonna take is one of those type of stories to
be true, or you get a company that comes out
and goes, we're downgrade, we're lowering our earnings expectation, one
of these pure AI type of plays where debt, we're
lowering our earnings expectation. In other words, we're not making
money in AI yet. Then the cards, the house of
(04:17):
cards will begin to fall. And that's exactly what this
Bloomberg story went on to talk about, was even more
in detail.
Speaker 2 (04:23):
Did you see that diagram where you've got these.
Speaker 1 (04:26):
Arrows right going from Navidia's in the center, and you've
got all these arrows pointing to open ai and all
these you know, advanced micro devices and open Ai and
blah blah blah, and it's like it's all intertwined.
Speaker 2 (04:38):
It's like a big spider web.
Speaker 1 (04:40):
And all that's going to take is one of these,
one of these companies or something to happen and they
will come tumbling. I hope to god it doesn't. But
you and I touched on this on Monday Is night.
Is it going to be nineteen ninety nine all over again?
The dot com bust? I think it will be at
some point, and then it's going to clear the feet
(05:00):
all these little companies and stuff.
Speaker 2 (05:02):
They're going to be, you know, gone. You'll you'll be
left with.
Speaker 1 (05:05):
The big boys that some of the names I just
mentioned in my opinion. But then it'll clean house and
then they'll start building it up again.
Speaker 2 (05:12):
So sorry for the long winded answer, but.
Speaker 3 (05:15):
You no, let's the answer I was looking for. Yeah,
I mean, and that's already taken.
Speaker 2 (05:18):
We have already taken thanks to you. Corrective.
Speaker 1 (05:21):
Oh, I guess I'll take a little credit some corrective
defensive action in our internal portfolios and some you know,
some of the things that we do because you never
know when this is going to happen, and so yes,
to your point, I do so.
Speaker 4 (05:33):
You yeah, you And remember, like you know, two thousand,
as odd as it looks, you look on a chart
and it was this big versus the longer run. But yes,
you know, the the the names that do what they
do and go down seventy percent could be thirty baggers
off of below. It's just a matter of you know,
(05:54):
looking inside of your portfolio. Everyone in saying if this
thing fell fifty sixty seventy percent, do I still think
I would continue to love it? Right whereas you love
your spouse despite any you know, because they I just had, I.
Speaker 1 (06:13):
Just had won't Do you remember how many analysts said
that in the dot com bubble verse?
Speaker 2 (06:17):
Yeah, oh my guess it is.
Speaker 3 (06:19):
And again if you I mean, I don't know what
the number is.
Speaker 4 (06:22):
I mean Amazon's had Amazon's had what five eighty percent
draw downs since it started, right like they happen, And
so either make that you know, you either have tight
cell stops, which is something that you get just closer
to where you own the stock or where it currently
is now you can put a cell stop and read
(06:43):
about it. There's stell stop limits versus cell stop orders.
I'm not telling you to do either, but go do
your research before you enter any kind of order.
Speaker 3 (06:50):
But always use limits.
Speaker 4 (06:52):
And start to keep tighter bands on your trades, necessarily
your investments, because remember, investments are things that you know.
Speaker 3 (07:04):
Like your house.
Speaker 4 (07:05):
If your house goes down fifty percent, you're probably not
going to just sell it, right you, unless you're forced to.
Speaker 3 (07:11):
But certain stocks, right, they may be leases.
Speaker 4 (07:14):
You think, oh, I love this thing, and then it's
down thirty five percent in your face. I promise you
may love it a heck of a lot less, it's
probably more of a trade. So times would like this
when volatility even vix at sixteen Right now, markets are calm, Yeah,
they can get unculmed pretty quickly, and so I think
just keeping a close eye on some of those more
(07:35):
speculative trades is a wise idea great advice.
Speaker 1 (07:39):
And again it will take one one bad story, one
bad earnings report, one bad something, and everybody you know
you remember, you know Jason's old world of the hedge
fund world. Those are the big boys, right. They can
dump things faster than you and I can blink an eye,
right Ray, Jason, I mean, yeah, you're long a million
shares of X y Z company, and you guys go,
this is bad the button. Yeah, you're got, You're got,
(08:02):
and everyone else is left hold in the bag. I
mean that's the big boys side and the unfair side
of Wall Street. The you know, the big boys. They
can move so fast while you're hard at work, you know,
in the office, and you look at your phone and
you go, is I mean I remember this in ninety nine,
two thousand jacent people go and that's when cell phones first,
you know, really came out. Like is this right that
you know, pets dot com went from seventy five this
(08:27):
morning when I went to work and it's now down
to twenty dollars.
Speaker 2 (08:31):
Oh my gosh, right when we're in the thick of things.
Speaker 1 (08:34):
And to conclude, Jason, this Bloomberg article, I think one
of the biggest takeaways that I extracted from it was
everyone's right now is going?
Speaker 2 (08:45):
But this time is different? Right? How many times a
year this time is different?
Speaker 1 (08:50):
But the article brought up an excellent point, and that
was this this time is different but for the negative,
And that is number one. You've got so many different
levels of money being lent and borrowed and so on
and so forth. But you also have huge sums of money.
Jensen Wong the Great Interview this morning, fifteen twenty minute
(09:13):
interview on CBC dot Com. Highly recommend you listen to it.
But he even said, and don't callt me to the
exact amount, but.
Speaker 2 (09:20):
God, what did he say?
Speaker 1 (09:20):
It was like thirty or forty billion it's costing to
get a data processing center up and running. I mean,
if you look at everything, folks that these aren't this
is what scares me. These are not small numbers, right,
This isn't some kids starting grocery dot com in the
basement of his house. These are physical assets, right, These
these massive hundred two hundred acre data centers that are
(09:44):
out there and in the chips that people are borrowing
and leasing money and on. And there's a lot of
tangible assets that are invested in these, in these in
this new technology where we didn't have that in the
dot com.
Speaker 2 (09:56):
I shared a story with Jason the other day. You know,
I was you.
Speaker 1 (10:00):
I started in radio nineteen ninety seven when I lived
in Bakersfilm and and then when I went independent in
ninety nine, I really got serious about the radio side
of it, and I formed I formed a California corporation.
Speaker 2 (10:12):
It was called Stocktalkamerica dot com.
Speaker 1 (10:14):
And I had this beautiful stock certificate sitting in my
office and I can't even remember how many, you know,
hundreds of thousands or maybe even millions of shares that
I created when I formed this, this this corporation worth
you know, point.
Speaker 2 (10:27):
Zoto zero zero zero one. And the reason I'm bringing
that story up.
Speaker 1 (10:31):
Jason's laughing right now, is that's how that's what happened
in the dot com era, right Jason, You would start
something and all you had to do is put dot
com at the end. And whether you're a public, a
trader or not, it's like everyone's just throwing their money.
Speaker 3 (10:41):
Please AI after it now.
Speaker 2 (10:43):
Now it's AI after.
Speaker 1 (10:44):
Yes, it's oh man, you got me jumped right into
this thing.
Speaker 2 (10:49):
I didn't get a chance to even warm up.
Speaker 1 (10:51):
I feel like I just you know, ran the twenty
six miles and we're only first segment into the show.
Speaker 3 (10:55):
Well, you can stretch during the break and then I
will stretch.
Speaker 1 (10:57):
The break and get some all right, Well, we had
a lot of things to talk to you about.
Speaker 2 (11:01):
Marco was decent today.
Speaker 1 (11:03):
Jason will give us his great recap when we come
back with let me tell you our topic after the
stock market recap. You know you think about this, folks,
and you hear us chat about this, and those of
you that are in retirement, I'm sure you'd be shaking
your head if I could see you right now. And
that is this retirement is supposed to be your reward,
right for all those years of hard work and waking
up to an alarm clock, etc. But what we're going
(11:24):
to be talking about this afternoon is this, what if
that retirement is not with your loved one i e.
Your husband, wife, boyfriend, girlfriend, but you have to do
it alone. This is what we call solo retirement. So
this afternoon, what we're going to do is we're going
to explore this topic with you, the solo retirement. We're
going to go over the emotional, the financial, the lifestyle
changes facing many of you right remember this. You know
(11:48):
what do they call it, Jason the the Gray divorce
or something like that. How many people I mean huge
percentage that get divorced after fifty they never remarry again.
Speaker 2 (11:58):
They're the solo retiree ones that are going to go through.
Speaker 1 (12:01):
I mean, that's part of society with the high divorce
rate and stuff. But what we're gonna do, and like
you know, we're gonna lay this out and many of
you are gonna shake your head.
Speaker 3 (12:07):
Yeah.
Speaker 2 (12:07):
But most important, we're gonna tell you how do you
get through this? Right?
Speaker 1 (12:09):
How do you build a strong, independent and joyful retirement
without that partner by your side? It can be done,
but once again, we're gonna give you some great steps
to do that. So the solo retirement will be our
topic here shortly or first, it's turned over to Jack Saban.
Speaker 2 (12:21):
He's got news trafficking weather. Hello Jack, the final Welcome.
Speaker 1 (12:29):
Back to the John Sanchez Show on News Talk seven
eighty k oh with Jason Gone. All right, here's how
we finished up A whopping I hope you're sitting down, folks,
A whopping one point loss on the S and P
five hundred or I mean on the Dow Jones and
Digital average.
Speaker 2 (12:40):
See, I'm screwing up. I get.
Speaker 1 (12:41):
First of all, I should stop. I need to apologize
to Kristin and Jack again. Why did I say Kristen
or Jack was going to do in traffic? I have
no clue, So I apologize to both both. All right,
Now let's rephrase. On the market side of things, you
just got me so fired up, Jason, I.
Speaker 2 (12:56):
Got to get I did.
Speaker 3 (12:58):
It's my fault.
Speaker 1 (12:59):
I love it all right. So once again, one point
loss on the Dow. Forty six thousand and six oh
one was our closing level. But guess what, folks enjoy
it while we can a record setting day again for
the Nasdaq in the SMB five hundred. Nice day on
your Naszac Jay two to fifty five, gain one point
one percent twenty three thousand and forty three Nazek Cup
(13:21):
thirty eight point five eight percent to a finish up
six thousand and seven to fifty three. On the commodity side,
we gained eighty three cents on oil sixty two fifty
four or fifty seven of baro. Excuse me, okay, Jay,
I'm gonna stop on. Well, let me hit the bomb mark.
I want to come back to gold goosegn ten year shirt.
I've guy saw the bomb Mark has been really quiet
since the government's been shut down. It's like the launchers
(13:41):
want to do anything without any government reports.
Speaker 2 (13:43):
It's it's kind of nicey.
Speaker 3 (13:45):
Get Columbus Day off to those jerks.
Speaker 2 (13:47):
Yeah they do, Yeah, we do. I know.
Speaker 1 (13:48):
I was talking to a friend of the dinky business today.
He's like, yeah, I'm not gonna be here on minute.
Speaker 3 (13:52):
Yeah, correct, So why he goes.
Speaker 4 (13:55):
Because Columbus liked bonds. He did not like stocks. That's
an unknown little fact, but it's true. He used to
talk a lot about bonds when he was sailing across.
Speaker 1 (14:03):
Well, all I know is I looked on our calendar
because the staff did not mark it off.
Speaker 2 (14:07):
I'm like, darned. Then I went to the New York Nope,
we're working on Monday.
Speaker 4 (14:10):
So I have googled NYSE market hallidays more times than
I can tell.
Speaker 2 (14:14):
Yeah, exactly. All right, let's talk gold very quickly, and
then we'll get to our topic.
Speaker 1 (14:18):
The solo retirement sixty six dollars and seventy cent gain
on gold, four thousand and forty dollars and forty cents
announce laid on the audience.
Speaker 2 (14:27):
My friend, what the heck is happening?
Speaker 4 (14:30):
I mean, it's just like I said, it's all the things.
It's got momentum, it's got all the themes that you
can get behind, as far as concerns about governments and
debt and all sorts of things. The only thing i'd
point out is if you really look at correlation, the
dollar has been strengthening over the last week or two.
(14:53):
It looks like it wants to go higher, which means
stronger dollar historically correlates to lower gold prices, right, and
so keep an eye out for it. Again, I'm not
calling the top of gold or anything, but watch the
momentum there that you know, people, once you get to
these big round numbers, you tend to get a little
bit of a chase. But if the dollar starts moving higher,
(15:16):
it will cause gold weakness. It's just going to be
a matter of time. So watch the DXY index. That's
what I follow for the dollar. It's here at ninety
eight eighty five, but yen's been week, Euro's been week,
so just keep an eye on that. For all those
gold bugs. Silver has been strong too. So it's just momentum.
It fits every single panic theme you can have right now,
(15:39):
and it keeps going higher.
Speaker 1 (15:42):
I'm sorry if I uttered something while you're doing that
great summary, but I got to bring this up. I
just got a news alert from one of our industry issues.
It doesn't look like it's breaking news. I just went
to CNBC dot com story's two hours old, but let
me pause real quick. Jay title is IRS furloughs nearly
(16:02):
half of its workforce due to the government shutdown. IRS
today said it was furlowing nearly half of its workforce
due to the ongoing government shutdown.
Speaker 2 (16:10):
Now let me pause right there.
Speaker 1 (16:12):
For those of you that file your taxes on April fifteenth,
you don't care about this, right, you're probably cheering. But
for those of us in business that will be file extensions,
quarterly taxes are due, etc.
Speaker 2 (16:21):
This is significance. So let me continue.
Speaker 1 (16:24):
About thirty four thousand IRS workers are being furloughed, according
to the Tax Agency. Another thirty nine thousand and eight
to seventy employees, representing fifty three point six of the workforce,
will remain on the job. Due to the labs and appropriations,
most IRS operations are closed, the agency said today. IRIS
wide furlough began October the eighth for everyone already identified,
(16:46):
except for exempt employees. Employees are not exempt or exempted
are furloughed and placed on a non pay and non
duty status until further notice. Holy However, all employees should
plan to report to work for the next tour of
duty for Lord IRS workers were told in a letter
that they will receive back pay when the shutdown ends. Well,
(17:07):
I don't know if they can clearly say that, because
that's one of the big issues folks in this government shutdown,
as we've been talking about. Congress has to vote on
paying everybody back. It's not a guarantee. That's what Trump
keeps threatening. And if you look at the law when
the government was shut down again last time in twenty eighteen,
they made it a new law that when if a
(17:28):
government shutdown occurs again, when Congress comes back appropriates the funds,
they have to put certain verbiage in there that the
government employees are going to get their back pay. That
right now is missing. That right now is missing. And
this is why this is a very serious situation. Whether
you like the government, you hate the government, whatever the
case is, there's a good chance that you could have,
(17:48):
you know, hundreds of thousands of workers that never get paid.
I don't think that will happen. I think eventually they will.
But you know, Jason, I'm sure you've seen it. There's
a lot of stories floating around right now where people
are really specially like military people and things, they're really
starting to hurt because they had a paycheck that was
due I think yesterday or the day before.
Speaker 2 (18:07):
They didn't get it.
Speaker 1 (18:08):
And they got another one due like in a week,
and you know, those government's back, they're not going to
get that one either. So now you're seeing the i
RS go, Jason, this is a serious situation. Also, we
had this discussion last week if this was ever going
to happen with Dwight of Hyland's mortgage kind of you know,
again looking into the crystal ball, that what happens if
(18:28):
the IRS shuts down, and he said, it's a disaster, John,
because they can't get tax transcripts which are required.
Speaker 2 (18:34):
For a mortgage.
Speaker 1 (18:36):
You know, the lending world basically comes to a halt
right and so on and so forth. So but anyways,
this last thing and then we'll go to break fur load.
IRS workers were told in the letter they'll received back
pay when the shutdown ends. The letter came a day
after the Internal Draftman Will suggest that that the Trump
administration might question its obligations there it is to get
back paid to some for load employees forlows Yeah, no,
(18:58):
no on so they already had a mass lay off
there reduced this workforce by about twenty five percent from
one hundred thousand down to seventy five thousand now, and
now you just furload, you know, half of that seventy
five so the thirty four thousand.
Speaker 4 (19:11):
Now, maybe he'll suggest a flat tax and then we
can just like get rid of the rest of them.
Speaker 2 (19:17):
Would that just be something? All right?
Speaker 1 (19:20):
Well, there's that breaking news there. Okay, my friend, you're
up to date on the market. You said everything you
want to say. Now we're gonna switch up talk about
solo retirement. Right, different world, folks. If you're gonna find
yourself in retirement due to loss of a loved one,
a divorce.
Speaker 2 (19:35):
Something like that, there's gonna be some things you need to.
Speaker 1 (19:37):
Be thinking about a little bit differently, and we're going
to be right here by your side helping you do that.
Speaker 2 (19:40):
That's what we do for Northern Nevada.
Speaker 1 (19:41):
All Right, it's turned it over now to Jack Saban,
who's got news, traffic, and weather. Helijack, Welcome back to
the John Sanchez Show on Newstock seven to eighty koh
with Jason Gaunt. Once again, our topic we're going to
delve into now the solo retirement once again. We lost
one on the now record close for the S and
P and then as that is that gaining two fifty
(20:01):
five SMP higher by thirty nine. All right, let's talk
about solo retirement. What the heck am I talking about? Well, again,
this is what many in society are facing these days,
either a to a due to divorce as I'll share
with you a stat or be the loss of love
one or you know, Jason all about you. But I
periodically still come across people that have never been married
(20:23):
in their life for whatever reason they want to. You know,
they're not a gay, they're not gay, they're not a lesbian.
They just like I just enjoy being by myself. I
don't need anybody in my life. Right, do you come
across that veryaltion?
Speaker 4 (20:34):
I do, Yeah, I mean, you know, I mean I
know that the millennials, et cetera are waiting on the
heck of a lot longer to get married, right, trying
to more life experiences and things. But clearly the topic
tonight is more on the other side of that coin
of you know, older folks that make either make the
decision to separate or get divorced, or even sort of
(20:55):
to your point, decide not to break into jail in
the first place.
Speaker 3 (21:00):
You know, I had a guy that I worked with.
He used to always use that pune and it was
the funniest thing ever.
Speaker 4 (21:05):
Someone would tell them I'm getting married and they'd be like,
why you break it into jail?
Speaker 2 (21:10):
Can I touch that?
Speaker 3 (21:11):
Shout out to Dan Ferrell.
Speaker 2 (21:12):
There you go there that one? All right?
Speaker 1 (21:15):
So if you look at the statistics, and I'm trying
to give you the source other than just you know,
via AI, but based upon twenty nineteen data, and I've
seen this few sites, so again I can't give you
a specific source, but I think this is very accurate.
About thirty six percent of all divorces in the US
involved at least one adult age fifty year older, so
(21:36):
roughly up third right, This is kind of go with that, Okay,
So the odds are, you know, many of you, if
you're already not there, you could find yourself living a
solar retirement. So what Jason and I put together for
you is this a ten point checklist of not only
what these challenges are that a solo retire reefaces, but
most importantly, what the solutions are. Jason, I'll take the
first one, all right. So here's our challenge. Okay, we're
(21:58):
going to call these challenges. So the topic is financially
vulnerable on a single income strain. Okay, so what's the challenge?
Only one social Security check, no shared housing expenses, and
then you can really say no shared expenses anywhere.
Speaker 2 (22:11):
Right, You've got to hire per person.
Speaker 1 (22:13):
Expense makes of course solar retirement even much more expensive
than if you had two incomes coming in. And we
all know if you have two people in the household,
doesn't mean your expense is double. But if you have
two incomes, that feels really nice. So what's our solution
to financial vulnerability? Solution is this, like we harp on
all the time, create a detailed cash flow plan using
very conservative assumptions. Maybe the lay social Security into the
(22:36):
maximum of age is seventy so you can maximize that
monthly benefit. Build multiple streams of income. This we always preach,
you know, dividends andnuities, rentals, part time businesses, part time consulting,
whatever the case may be. And also consider long term
and guaranteed income products for peace of mind.
Speaker 2 (22:52):
Right, last thing you.
Speaker 1 (22:53):
Want to do, right, Jason boy, this is a stories
I could share on this one. You're by yourself in retirement,
and you got everything subjected to the market, and you
have a major market correction, and now you're facing a
thirty forty percent decline, which can happen very easily, and
you're going, oh my god, I have nothing to fall
back on, right, I don't have a spouse of social
security check coming in or maybe there's you know, spouse
(23:14):
is still working or anything. It's all on your shoulders,
and so you've got to be very very careful of that.
Speaker 2 (23:19):
And I guess we could say, you.
Speaker 1 (23:20):
Know, you may want to consider being a little bit
more conservative in your investments and very diversified, et cetera
when you are solo, so.
Speaker 4 (23:27):
Yeah, right, or you know, flip the other way and
be incredibly aggressive because of the all on you and yeah, yeah,
but yeah, it is. It typically when we're using eighty
five percent of costs if someone passes away, so at
least shows you, Yeah, I mean, it's not.
Speaker 3 (23:43):
Fifty to fifty. It's more expensive to.
Speaker 4 (23:46):
Live on your own because you know, you probably not
buying half of the house or driving half of the
car that you normally would if you were married. You've
got a car and sometimes lots of families only have one.
Speaker 1 (23:57):
So well, let's take a little little bit deeper, brother,
and that is when it comes income tax time. Run
your taxes is joint versus running it as single and
watching it.
Speaker 2 (24:08):
And that's a huge difference for many.
Speaker 4 (24:10):
That's a huge shock that people need to be aware
of too, of someone passing away or a divorce sort
of year two, your income tax bucket changes a lot,
so be.
Speaker 1 (24:21):
It depends upon what part of what time of the
year you got a divorce, whether you're going to be
able to file a single or a joint. And also
if you sell a home a primary residenceere you enjoy that,
you know, five hundred thousand dollars tax exclusion.
Speaker 2 (24:33):
If you're married, well, guess what.
Speaker 1 (24:35):
I won't go into the rules right now, talk to
your CPA or give us a call at the office.
But if you're getting divorced early part of the year,
you could potentially be viewed as well.
Speaker 2 (24:45):
Let me rephrase this.
Speaker 1 (24:46):
You could be married through roughly three quarters of the year,
but because you got a divorce before a certain day
or certain month of the year, IRIS looks at it
as if you were divorced the entire year, meaning you
only get the two hundred and fifty thous dollar tax
exclusion versus five hundred thousand.
Speaker 2 (25:04):
Interesting.
Speaker 3 (25:04):
Yeah, that's news to me. I didn't know that you
get to choose because it hit me.
Speaker 2 (25:11):
It hit me.
Speaker 4 (25:12):
Listen to the John Sancho Show. We will speak from
a life that's really well, that's right.
Speaker 1 (25:17):
All right, let's go to number two. No automatic advocate
or decision maker.
Speaker 2 (25:21):
Right.
Speaker 1 (25:21):
We all love to talk to people. Jason, I were
chatting about this during the break. How nice it is
be able to talk to your spouse or your business partner, uh,
you know, having someone to talk to.
Speaker 2 (25:29):
Right.
Speaker 1 (25:29):
So the challenge when you're a solo retiree is without
a spouse, there's no built in you know, power of attorney,
no healthcare proxy, no executor to make the critical decisions,
no one to really bounce ideas off of. But when
we talk to financial side, and you know, I'm kind
of leaning on the estate planning side when I mentioned
power of attorney, healthcare proxy, those are things. Of course
most people, hopefully you will have a you know, you've
(25:49):
done your estate plan, most likely you will name your
spouse to be that power of attorney or that healthcare
decision maker or executor or so on and so forth.
You don't have a spouse. Guess what now you got
to go outside. You know that box. So what is
the solution when it comes to an automatic advocate or
decision maker. Here's what we like to say. Choose a
trusted friend. Choose someone that's got some good business experience. Uh,
(26:11):
choose a relative. I'm not too keen on that one,
for various reasons. You can also hire a professional fiduciary
right legally document the powers of attorney, the healthcare directives,
the successor trustees, all of these things again through a
solid estate plan, and please folks review them, update them annually,
especially if you have major life changes going on. You
(26:33):
buy an asset, you get rid of an asset, all
these different life trigger events that trust needs to be
reviewed and in many cases amended. But boy, Jason, this
is a serious one. You and I are very serious
when it comes to our clients. It's about a state
planning then, and oh man, you don't have this in
there and could be a disaster, especially becoming more and.
Speaker 4 (26:51):
More important to day by day having that a state
planning trust, et cetera. So yeah, all right, yeah.
Speaker 3 (26:58):
We got time.
Speaker 4 (26:59):
May home, and it's right. That's something too, right that
oftentimes is something that you know someone. You don't have
two people doing the work, even though it does tend
to fall to one of the two anyway. You know,
she may like to do it or he may like
to do it, but it all falls on you if
you're solo. And that's something that it gets harder as
you get older, too.
Speaker 1 (27:16):
I gotta tell you, I felt like less of a
man today at about one o'clock than I did it
twelve do te came out of my office. My wife
was changing the toilet seat lids. I'm like, this is
really bad. I didn't even have time to do this,
and my wife is doing this and she got it done,
(27:36):
and that she's yeah, she can do.
Speaker 2 (27:38):
A lot of things like that.
Speaker 1 (27:39):
You get the squishy ones or no, no, no, no, no,
you can't stand this.
Speaker 2 (27:43):
No, okay, we have being in a return.
Speaker 4 (27:45):
Being like a being a grandma's house. Yes, auto the
auto lids though, mars right, don't.
Speaker 2 (27:52):
Give me a bow? Dat all right? Number three, greater
burden of home maintenance.
Speaker 1 (27:56):
Like Jasons mentioned, you know you struggle, I'll let you
continue out of his path.
Speaker 4 (27:59):
They you're dumb but yeah, I think we covered it.
It's sort of along the lines unless you've got a
wonderful you know, a wife or a.
Speaker 2 (28:08):
Skip that one.
Speaker 1 (28:09):
All right, Number four before we go to break loneliness
and social isolation.
Speaker 2 (28:12):
Boy, this is a serious one.
Speaker 1 (28:14):
You know, living alone and studies have shown this folks
can lead to depression, poor health, cognitive decline. I'm not
a doctor medical or psychological or psycho psychic type of person,
but I've seen it happen with family members.
Speaker 2 (28:27):
I've seen it happen.
Speaker 1 (28:28):
I know when my father when my mom died, you know,
years ago, and he had about a two year time
period Jason before he remarried. I was very concerned about
that as a as a son, and as I know
my siblings were also. You think about it, You're staring
at these four walls all by yourself, and you have
nobody to talk to. You got no one to help
you again if you trip and fall. So there's a
lot of things and ultimate leads to that depression. And
(28:50):
we know depression can sometimes kill people. Right, So solution
with this very simple get yourself up right. You hear
Jason and I talk all the time, have a reason
to get out of bed when you're reading what is
my reason to get out of bit? Proactively schedule social routines,
joint clubs, volunteer, take classes, mentor people, do whatever you
want to do. Get into dinner groups. Use technology. You know,
(29:10):
you have this great thing called zoom and other you know,
videotype or programs. Meet up with people. They don't need
to be in your backyard anymore. Then talk to kids
anywhere in around the world or your friends, and so
just that connection alone. I mean, think about what we
all went through in COVID. We all felt a lot
of isolation and it was not healthy.
Speaker 2 (29:26):
Remember that, Jason.
Speaker 1 (29:27):
A lot of people you know, were committing suicide and
getting addicted to drugs and alcohol because of that loneliness.
And this is a very serious situation when it comes
through solo retirement, you got to be involved and keep yourself,
both your mind and your body of course active. All right,
we'll come back to point number five. Let's turn it
over to Kristen Snow right now.
Speaker 2 (29:46):
Traffic. See Kristen, I got to write this time.
Speaker 4 (29:48):
See but invest in its owns money guide that they.
Speaker 1 (29:55):
Do and the audience knows that, yes, Sory kind of
chat off the off air there, welcome back to the
John Sanchez Show. All right, we're talking about the solo retirement.
I was putting my finger up to sh I.
Speaker 3 (30:06):
Know, well, these are all planning tools that we use.
So we're talking about them. You know, you get a
real behind the scenes, you know.
Speaker 2 (30:13):
Come on, that's it, Yeah, that's it. All right?
Speaker 1 (30:16):
Financial again. Ten challenges of solar retirement. Number one, we
said the financial vulnerability. Right you, single income strain, no
automatic advocate or decision maker, no one to bounce ideas
off of. And again, when you find yourself incapacitative physically, mentally.
Speaker 2 (30:31):
You don't have anybody, but what do you do? Again?
Speaker 1 (30:33):
This is where you build your network, a trust of friends, fiduciaries,
professional fiduciaries, et cetera. Number three, the greater burden of
home maintenance that stands alone, the loneliness and isolation. Another challenge.
Let's go to number five. Higher cost of healthcare. Right,
and specifically I'm talking about long term care. Right, you
have no built in caregiver. This is a big challenge.
(30:54):
Nothing since shivers up my spine more, Jason, when I'm
dealing or we're dealing with one of our widows, man
or woman, and they said, no, I don't need long
term care. My son promised me he was going to
change my diaper when if I got to that point,
and on and on. I'm like, please, don't put that
burden on your children. Right, plan ahead, plan ahead. When
you're by yourself in the solo retirement, you had a
plan ahead for him, home care, the assist of living,
(31:16):
you know, research, continually, continue to research communities, right, there
are some phenomenal communities here in northern Nevada. It's like
living in an apartment complex. But man, you got you know,
all kinds of activities and people to talk to and
exercise rooms and stuff.
Speaker 2 (31:33):
They're great.
Speaker 1 (31:34):
But you know, as we're a big advocate of the
long term care, insurance is something many of you should
consider if you're going to find yourself in this situation.
The cleaning, how about this, You know, it's not a
bad idea to think about and talk to your financial
advisor about budgeting in someone to help you clean, maybe.
Speaker 2 (31:47):
Run some errands. So you're gonna get to a point.
We have one client that's in his nineties.
Speaker 1 (31:51):
I'll say, Howard Jason, So you know who I'm talking about,
you know, guys over ninety and he just lost his license,
so like in the last year or so, right, So.
Speaker 2 (32:01):
Most people don't want to be driving.
Speaker 1 (32:02):
It, you know, in their eighties or nineties, and so
you need a little bit of help there because you
don't have that spouse that does it take on number.
Speaker 2 (32:08):
Six one man.
Speaker 4 (32:09):
Yeah, the and you've touched on this and several of
the topics is the the emotional resilience, your identity, who
are you? You know, sometimes when we talk to ourselves
we end up going into a death spiral in terms
of negativity or excess positivity.
Speaker 3 (32:26):
Right.
Speaker 4 (32:26):
It's it's tough to not have a a center of
some kind that you you know, so you got to
make sure that you go out and put yourself out
there where you're able to interact with folks if it's
mentoring or teaching or heck, gardening or clubs or you
name it. Just kind of getting out there to make
sure that you have a again, a reason to get
(32:48):
out of bed and a reason to do what you do,
especially in your later years.
Speaker 3 (32:52):
So it's just it's really.
Speaker 2 (32:53):
Important to have that.
Speaker 1 (32:54):
Dub I have seen this Jason with with more so well,
I guess I can see I can. I've seen it
with divorces and widows, and that is after you get
past the trauma and the emotional maybe a financial shock
of you know, going into retirement as a solo. The
ones that I see that one day they wake up,
they kind of grasp it right, They're like, you know what,
(33:16):
there's nothing I can do about it. Again, divorce or death,
nothing I can do about it. But what I can
do is I can change my attitude and go, you
know what, this is my new I'm turning over a
leaf to use that say, right, this is my new
lease on life. I've always wanted to, as you said,
join a club or or or do whatever I wanted
to do.
Speaker 2 (33:32):
Now you have that chance.
Speaker 1 (33:33):
And it's amazing how you can make it through on
the solo side taking that attitude versus man I you know,
I mean, I missed my spouse, you know, death or divorce,
whatever the case is.
Speaker 2 (33:44):
That's a human emotion.
Speaker 1 (33:45):
But if you again, the mental side comes in and
don't be afraid, don't be afraid to go get some
some professional help when it comes to that, especially on
the divorce side of things. The last ones that we
have the estate legacy and end of life planning very important.
When you're in a solo retirement, you again work with
the estate planning services, et cetera. Autonomy and flexibility. Again,
independence can feel liberating, but also, as we said, it
(34:06):
can be somewhat on the scary side. Get involved in
the community connection side, and then insurance and longevity risk.
You know, a long life is a blessing, but at
the same time, without a partner's income, it can be
financially devastating.
Speaker 2 (34:18):
Right. So the last thing that I want to kind.
Speaker 1 (34:20):
Of leave you with, and I'll wrap it up with Jason,
is this the key to thriving in a solo retirement.
The key to thriving in a solar retirement isn't doing
it all by yourself. You have to plan ahead, surround
yourself by people that you trust, that you love, and
living with purpose every single day. Those are the way
that we summarize everything.
Speaker 3 (34:43):
Much more. I can say, Man, I'm pretty well loved.
Speaker 1 (34:46):
I like being able to keep Jason. That tells me
I did a good job, which is rare. That's a
lot of fun. God bless everybody. Have a great afternoon.
Speaker 2 (34:54):
We'll see tomorrow on the John Sanchez Show.
Speaker 1 (34:56):
John Sanchez is a registered investment advisor, and the opinion
expressed by Sanchez Gone Capital Management LLC on this show
or their own and do not reflect the opinions of
News Talks seven eighty or its pairing company, Cumulus Media.
All statements and opinions expressed are based upon information considered reliable,
although it should not be relied upon. As such, any
(35:16):
statements or opinions are subject to change without notice.
Speaker 2 (35:19):
Information presented is for educational purposes.
Speaker 1 (35:22):
Only and does not intend to make an offer or
solicitation for the sale or purchase of any specific securities, investments,
or investment strategies. Investments involve risk, and, unless otherwise stated
or are not guaranteed.
Speaker 2 (35:35):
Information expressed does not take into account your.
Speaker 1 (35:37):
Specific situation or objectives, and is not intended as recommendations
appropriate for any individual. Listeners are encouraged to seek advice
from a qualified tax, legal, or investment advisor to determine
whether any information presented may be suitable for their specific situation.
Speaker 2 (35:53):
Past performance is not indicative of future performance.
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