October 23, 2025 • 36 mins
In this episode of the Jon Sanchez Show, hosts Jon G. Sanchez and Jason Gaunt, Sanchez Gaunt Capital Management in Reno, NV, discuss the current state of the market and its implications for retirees.
They delve into the fears that retirees face, such as market volatility, healthcare costs, and the uncertainty surrounding social security. The conversation emphasizes the importance of financial planning, addressing longevity risks, and the need for predictable income sources in retirement.
The hosts provide insights on how to navigate these challenges and ensure a secure financial future for retirees.
Chapters
00:00 Market Overview and Current Sentiment
14:42 Retirement Income Reality Check: Fears and Solutions
24:12 Retirement Income Reality Check
25:35 Healthcare Wild Ride
30:53 Longevity and Financial Planning
35:04 Social Security Strategies
35:58 Tax Planning in Retirement
37:11 Fees and Inflation Impact
37:55 Confidence Crisis in Retirement Planning
👉 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.
They delve into the fears that retirees face, such as market volatility, healthcare costs, and the uncertainty surrounding social security. The conversation emphasizes the importance of financial planning, addressing longevity risks, and the need for predictable income sources in retirement.
The hosts provide insights on how to navigate these challenges and ensure a secure financial future for retirees.
Chapters
00:00 Market Overview and Current Sentiment
14:42 Retirement Income Reality Check: Fears and Solutions
24:12 Retirement Income Reality Check
25:35 Healthcare Wild Ride
30:53 Longevity and Financial Planning
35:04 Social Security Strategies
35:58 Tax Planning in Retirement
37:11 Fees and Inflation Impact
37:55 Confidence Crisis in Retirement Planning
👉 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 (00:02):
Good Wednesday afternoon to you. Welcome to the John Sanchez
Show on News Talk seven to eighty. K Oh, it's
a pleasure to be with you. What a pleasure to
be with my partner, Jason Gott.
Speaker 2 (00:09):
How you doing, my friend?
Speaker 3 (00:10):
I'm doing okay. Put a choppy, ugly, messy day today.
Speaker 2 (00:15):
It was a karate day to day in the market.
Speaker 3 (00:17):
Let's put it, Yeah, karate expand expand where's that from?
Speaker 4 (00:21):
Chops?
Speaker 2 (00:23):
Yeah, lots of chops, lots of chop, lot of chopsticks. Yes.
Speaker 1 (00:26):
Indeed, it was my friend who was a choppy day
to day and unfortunately day where we ended a bit
in the red. But you know what, the days all
behind us. All we can do is focus on tomorrow
and that's exactly what we're gonna do. Let me tell
you what we have lined up for you this afternoon,
The retirement income reality check. Yeah, when you get into retirement, folks,
here's one thing that you want to be thinking about,
not so much this how much money you've accumulated, but
(00:48):
what's going to be the cash flow?
Speaker 2 (00:50):
And you know there's something going on right now, and.
Speaker 1 (00:52):
That is this as retiree, you're more anxious now about
running out of money, trying to stay ahead of inflation,
pay the bills, maintain a good stock market performance in
your stock market assets. All of these things culminate together
when you are in retirement, and it can be overwhelming, right,
especially if you're trying to manage the money yourself. There's
so many things going on. I mean, Jason and I
(01:13):
deal with it every single day, hour by hour. You know,
this market moves on headlines, right it It moves on
the President's a true social posts that moves on any
bit of news. The algorithms move the market into dramatic fashion,
and then you get down at the end of the
day and you go, what happened, right, and kind of
like yesterday, I mean, we set a record on the
Dow Jones industrial leverage, right, Jason, and today you know
we give it all back and the two hundred plus
(01:35):
point gain yesterday and a little bit more so now
you start questioning, Okay, it's just the beginning of this
pullback that you and I have been talking a lot about.
I mean, there's a lot of different things, but the
bottom line is this. When you're in retirement, you have
a lot of fears that someone that is working does not,
and that's what we're going to be tackling. We're going
to reveal ten real fears that keep you as a
retiree awake. And if you're not in retirement, don't think
(01:56):
this isn't for you, because at some point, hopefully you
will be able to retire. And I promise you these
fears will not be any different five years, ten years
from now than they are at this particular moment for
those that are actually in retirement. So we put together
a great list of these ten fears, and most importantly,
of course, not only we're gonna tell you what they are.
Speaker 2 (02:13):
But we're gonna give you solutions to those. But we
always like to do so.
Speaker 1 (02:16):
The retirement income reality check will be our topic here momentarily.
In the meantime, my friend, we have a lot of
things that happen during the market hours and also a
few things going on in the after hours. On don't
you take the market hours and I'll take the after hours?
How about that one split?
Speaker 3 (02:31):
Yeah, that sounds like a plan, right, that's the biggest
movers during the day.
Speaker 4 (02:37):
Netflix had earnings.
Speaker 3 (02:39):
Overall, it wasn't much of a miss, but it was
a slight miss. They blamed some issues with taxes in Brazil.
Speaker 2 (02:46):
And yeah, but it'll rezil some money and taxes there fe.
Speaker 4 (02:50):
Yeah, a little bit.
Speaker 3 (02:50):
But it's also just I think, highlights what we've talked
about quite a bit.
Speaker 4 (02:54):
Right.
Speaker 3 (02:55):
When stocks are as high as they are and marketers
as high as they are, you have to outperform what
expectations are in order to keep the balloon afloat, right,
And so in Netflix's case, people probably have a fair
amount of growth inside of that holding, and down ten
percent when all was said and done, is not much
(03:15):
of a surprise the stocks. I mean, they made some
comments about overall doubling their business in a pretty short
window of time, So any hiccup of any kind along
the way just gives people some at least reason to
take some profits. It's all weakness in Texas instruments, that's
another bell weather. Not necessarily on leading edge as far
(03:35):
as an Nvidia or AMD or someone, but more the
I often say the common man with a Texan, right,
it tends to be more in the calculators and more
analog parts of the business that almost get a good
read into the economy, not necessarily AI as a theme, etc. Right,
And they started to talk about some decelerations, slower pace
(03:58):
than previous cycles.
Speaker 4 (03:59):
So on and so forth.
Speaker 3 (04:00):
Those aren't the words you want to hear from a
technology company. They were down about five percent, but Amazon
was weak today again, you can touch on Tesla after
the clothes even Apple gave back about a percent and
a half.
Speaker 4 (04:12):
So small caps, you felt under the cover.
Speaker 3 (04:16):
A lot of these momentum names, the nuclear, the quantum,
those types of names have been underperforming. Right You've felt this,
you know, momentum profit taking, not necessarily the momentum factor
per se, but the high fly in low revenue, low
earnings type companies, there's been some profit taking as you're
(04:40):
getting near the highs, and those are oftentimes the canaries
that we keep an eyeball on. You know, they can
be swift moves high, but they tend to be even
swifter moves lower. And those who have been showing their
hand a little bit. Not to say it's something that
can last forever, but you know, people are the skeptics
are back, I would say, at least near term. I'm
(05:01):
sure they'll be bullish again at some point, but you
feel like there's more of a skeptical theme inside the
market right now.
Speaker 4 (05:07):
So that's really where we are.
Speaker 3 (05:08):
As you mentioned, the Dow was at all time highs
just a day ago, so it's not like we're crashing
by any stretch.
Speaker 4 (05:13):
It's just more of you know, you need.
Speaker 3 (05:16):
To keep things positive and momentum going in order to
keep the market doing so, and any little bumps out
of a Netflix or Texan could have a little bit
of a negative bias into earning season.
Speaker 1 (05:27):
There you go, excellent, Let's go back to the Netflix
story for just a moment, and then we'll work our
way to the clothes and what's going on in the
after hours. So you mentioned it was down ten percent.
I want to throw this out there. That was, by
the way, one hundred and twenty four dollars ninety eight
cent loss, finished at sixteen dollars and thirty seven cents.
But back to this issue with the Street had the
(05:47):
problem with is there's they cited a Brazilian gross tax
on outbound payments that they're dealing, you know, battling the
Brazilian government about. But I think the most important thing
is this could have been a very much of a
over sold condition going on simply because the company said,
look at if it wasn't for this tax issue going on,
(06:09):
we would have surpassed a third quarter of guidance. But investors,
you know, back to your point, I think we're priced
for perfection right now. This is always a dangerous thing
when you're trading it at you know, record levels, and
so your price for a perfection and so the street's like,
we don't care, you know, we know what you report it,
so therefore let's.
Speaker 2 (06:24):
Punish you and hints the reason there.
Speaker 4 (06:26):
You agree on that, Yeah, I know, I completely do.
Speaker 5 (06:28):
Yeah, It's it's always one of those stories to me,
like a Netflix, that they have such a mode and
they seem so impenetrable that at some point they have
to trip up right where people just get tired of it,
or you know, the well they.
Speaker 2 (06:44):
Seem to have on again, off again quarters. It's never consistent.
Speaker 1 (06:46):
You know, they'll go a couple of quarters where things
coming above expectation, then they have one like to this,
they miss and they punish it, and you know, it's
just a they.
Speaker 3 (06:54):
Just have so much IP right, all of these shows
and brands and things and that there. I mean, they
use the analogy this morning that they have at CNBC
talking about that they're have more IP than Disney has
right with all these different shows and such.
Speaker 4 (07:09):
But you get saturation too, where.
Speaker 3 (07:12):
There's only so how many incremental buyers are there?
Speaker 2 (07:16):
Right, say every quarter, it's like where did you just
find that?
Speaker 1 (07:19):
They find them something an additional subscriber, Right, yeah, you're
knocking on doors in third world countries.
Speaker 2 (07:24):
I don't know. I don't know where they come from.
Speaker 4 (07:26):
Airplanes with like little yeah things across the back.
Speaker 1 (07:29):
I can still personally get very frustrated and like you
it's like you have this subscription.
Speaker 2 (07:34):
Or I don't know if you still I don't use it.
Speaker 4 (07:35):
My wife does.
Speaker 2 (07:36):
Yeah, I don't use it either.
Speaker 4 (07:37):
And I'm like, you know, every once in a while
they'll be.
Speaker 2 (07:40):
Like everything is so older than some good.
Speaker 4 (07:43):
You know something comedians.
Speaker 1 (07:46):
You want to watch Top ten for the two thousandth time? Hey,
you can find it on Netflix. It's right there on
the top, you know. Anyways, all right, speaking of technologists,
move on to Apple. You mentioned this one briefly. Some
news came out today. I don't know how valid it is,
but indicating that the demand for the new iPhone air
is weaker than expected, so that pressured the stock four
(08:06):
dollar thirty two cent loss. There you don't want to
mention Amazon real quickly. You touched on this four dollar
and four cent loss one point eight two seventeen ninety nine.
I read an interesting article yesterday, I think it was
in Bloomberg and Jason. It was about Remember we had
a client two or three years ago. I think I
included you in the conversation. He called up and he
(08:26):
was looking for a business. He's retired, but he wanted
to invest some money in a business. And he goes,
what do you think about becoming one of these Amazon
delivery companies? Right? How Amazon started allowing people to you know,
become a company and be an Amazon delivery company. And
you know, we looked at it and stuff and it's like, eh,
long story short. We you know, I told him it
(08:46):
wasn't worthwhile doing it. Well, what's going on now is
these these contractors are just furious at Amazon. They're they're going,
wait a minute here, we're not making nearly the amount
of money that we that we you know, basically were
told we were going to make. Are cost or going
through the roof Amazon which leases the vans back to them,
hit them all with these massive bills, these repair bills
(09:08):
that Amazon ended up backtracking and reducing the amount of
what the bills were going to be. So bottom line,
these these poor contractors, their expensers are going through the
roof and the revenue that Amazon's paying them is going down.
So you know, if you start to see a little
bit of delay and you in your prime delivery or something,
that may be one of the reasons that many of
these people that were interviewed, these contractors like I'm done,
(09:29):
I can't, I can't, I'm you know, I was making
like one person said, yeah, we made you know, I
think met one hundred and twenty thousand last year and
we're gonna be lucky to make seventy five thousand this year.
And it's estep's going down because Amazon is controlling everything
that they do. It's almost a franchise or franchise e model.
So we'll keep an eye on that and see if
that has, you know, any impact down the road. Do
you want to mention into it. Surgical this was a
(09:51):
big performer today. How about some robotics to get your
surgery done?
Speaker 2 (09:54):
Man?
Speaker 1 (09:55):
You see that stock today Jason sixty four dollars and
twenty nine cent gain up thirteen point eight nine percent,
five twenty seven oh three is the close.
Speaker 2 (10:01):
Again, very very good earnings numbers there.
Speaker 1 (10:05):
Now, let's since we're a little heead of schedule, let's
go ahead and jump into the after hour session when
I know many of you are waiting to find out
what happened with Tesla. So the first of all, let
me tell you what the stock is doing in the
after hours. It is down, lost a little bit in
the pre market or in the regular session, but right
now down fifteen dollars and sixty one cents. Again, that
accounts for what happened in the regular session. So three
point five to four percent loss for twenty seven oh three.
(10:28):
The stock moving lower is I guess you would call
it a mixed third quarter result. They made the good news.
Let me get that out of the way first. They
had a twelve percent increase in their third quarter revenue,
brought the number to twenty eight point one billion dollars.
Sales were strong, but the earnings fifty cents a share
after adjustments. That was short of Wall Street's expectation of
fifty five cents. The one that's going to unless it
(10:51):
changes overnight, which usually does not. That could affect the
market tomorrow at least in the pre market is IBM
DOWBT component right now in the after hours of stocks
down eleven dollars and eighty five cents to seventy twenty
good numbers. Matter of fact, the revenue came in line
with the Wall Street's estimates. The consulting and infrastructure business
exceeded projections. Again, overall, it was a top a beat
(11:13):
on the both the top and the bottom line specifics.
They made two dollars and sixty five cents of share
estimates were two dollars and forty five cents.
Speaker 2 (11:20):
Rev came in at sixteen point three to three billion.
Estimates were sixteen point zero nine billion.
Speaker 1 (11:25):
But again the stock coming under pressure back to you
know what you were just saying a moment ago, we're
kind of priced to perfection right now. And if all
of the metrics, their top line, the bottom line, growth numbers,
et cetera, don't exceed Wall Streets expectation, then they go, oh, okay,
thank you, we've had a nice run up to take
a little profit, and they moved to the sidelines on it.
So anything you want to add on those two.
Speaker 3 (11:44):
No, I think again, it's very much a sentiment game
at this point and you got to beat a lot
or you're probably gonna get beat up.
Speaker 1 (11:51):
Yeah, exactly, all right, you're now up to date what
happened in the regular session, up to date on what
happened in the after hours. We'll come back hit the commodities,
interest rates, and then get into our topic, the retirement
come reality check. Let's turn over to Kristen snow right
now traffic Center. Hello, Kristin, welcome back to the John
(12:13):
Sanchez Show on Newstalk seven eighty k H. It's with
Jason Gon. We do appreciate you joining us. The retirement
income reality check coming your way in a moment. First,
let me tell you where these markets finished up a
three hundred and thirty four point loss on the Dow
point seven one percent to a close of forty six thousand,
five ninety and as that lost two hundred and thirteen
points point ninety three percent, SMP down thirty seven or
point five three percent.
Speaker 2 (12:34):
Well, kicking back a.
Speaker 1 (12:35):
Little bit, we've been nicely below the sixty dollars mark,
getting close to it again. Fifty eight to fifty one
is where we closed up a dollar twenty seven for
the day. Doctor're not done selling on gold yet Jay
forty four dollars ninety cent loss, four thousand and sixty
five seventy an ounce.
Speaker 3 (12:50):
Yeah, I think it's just in that bucket of momentum,
right that we talked about.
Speaker 4 (12:53):
It some just.
Speaker 3 (12:54):
Over owned areas that are ready to distribute a little bit.
Speaker 2 (12:57):
And that's right.
Speaker 3 (12:58):
You know, whenever where you get those parabolic moves, they
don't tend to continue.
Speaker 4 (13:03):
You've got to keep a close eye on them. They
reverse pretty quick.
Speaker 3 (13:06):
Not to say that we can't go higher in the future,
which I expect we probably do, but near term, you know,
by the dip may get you in a little bit
of trouble if you're a short term investor for.
Speaker 2 (13:17):
Right, right exactly.
Speaker 1 (13:19):
And finally on the mod field side, very quiet down
just one basis point two you'll close of three point
at ninety five percent, all right. The challenges of a retiree, right,
it's all about the income. That's how you're able to
survive and continue in retirement.
Speaker 2 (13:33):
Right.
Speaker 1 (13:33):
It's all about the amount of money coming in versus
what's going out. But there's a lot of fears going
on with retirees today. And obviously, as we said, they're
always here, and so we thought it'd be a good
time as we start to see more market volatility. You know,
recently it's been on the upside, but we got to
prepare you for the downside when that time happens. And
what do you do if you're a retiree, because remember, folks,
(13:54):
it's always different when you are a retiree, how you view,
how you feel about market volatile and frankly just surviving. Right,
You're on a fixed income and that makes a challenge
in and of itself. So we put together a list
of ten Hopefully we can get to them. If not,
we'll do our very very best on how to solve
the fears that are facing retirees in twenty twenty five.
(14:17):
All right, so the first point that we'll get to,
and then Jason will take point number two. We call
it the pay check gap anxiety. You know, retirees, of course,
you go to a steady paycheck, or from a steady
paycheck to uncertainty. Right, you don't know, especially if you
are driving retirement income off of your portfolio. Right, Let's
say you established I don't know, Let's pick a simple number.
(14:37):
Let's say you got one hundred thousand dollars in your
four oh, one k that you moved to an IRA
when you're retired, you're gonna do a four percent with
draw So you're gonna take four thousand dollars a year
off of this. All right, divide it by twelve at
your monthly income. Well, it was a four percent with
draw rate, okay, pretty common. But what happens if that
one hundred thousand drops two eighty thousand, so you go
through a twenty percent market correction. Now it's not four
(14:58):
percent anymore. It's significantly higher with draw rate. And if
that trend continues fronting length of time, guess what, you
really start eating into that principle. And if it's large
enough eat into the principle, you may never recover. So
you have to sit back and go, Okay, this is
my situation. I'm trying income off of a vautile asset.
What do I need to do? I need to start
deriving more fixed income sources. So the solution, or what
(15:22):
we call the fix to the paycheck gap anxiety, is this,
turn your savings into predictable paychecks, structured income ladder things
like annuities like bonds CDs if the interest rate is
high enough, things that you hear us talk a lot
about from the standpoint that no matter what happens in
the market, that paycheck is going to be coming in
every single month. And this is one thing we do
(15:42):
when we do a cash flow analysis with our clients,
as we again break down our fixed income versus fixed expenses,
variable income versus variable expenses. Don't try to lump variable
expenses and variable Excuse me, you don't try to lump
variable income with against your fixed expenses.
Speaker 2 (16:02):
Right.
Speaker 1 (16:02):
One again is variable. Right, Your stock market is typically
your variable income. Your fixed expenses are things like your
mortgage and car payment and things like that. You don't
want to do that. Again, The ultimate goal when you're
trying to solve this paycheck gap is you want to
try to say, Okay, I've got whatever three thousand dollars
a month coming in fixed income, so things like annuities
and maybe a pension and social Security so on and
(16:24):
so forth. Cool, I got three thousand dollars coming in.
It's going to be here no matter what. What are
my fixed expenses like my mortgage and things. Oh, let's
say they're twenty five hundred dollars. Okay, Well I'm five
hundred dollars positive on my fixed expenses. But what if
your fixed expenses are far greater than your fixed income. Well,
one thing that we do is we then look at
that and go, Okay, what can we do. Let's take
a little bit of money from the variable investments i e.
(16:45):
The stock market and try to put it into some
of those fixing fixed income buckets and again try to
get as much of a steady paycheck coming in. Because again,
things are great right now in the market and the economy,
especially when you're retiree, you have to plan that things
aren't always going to be that way. And nothing is
more scary when you're retiree than deriving almost all of
your retirement income from something like a stock market portfolio.
(17:08):
And then that portfolio drops and you go, oh boy,
you're suffering mentally from seeing that principle drop. But you're
also suffering because that withdraw rate you started out with
is now significantly higher because of the drop. So again,
the fix there is try to derive as much fixed
income as you possibly can from your investments. Oh, Jason,
one of your favorite the shrinking dollar syndrome point number two.
Speaker 3 (17:29):
Yeah, inflation, it hurts, It doesn't tend to go down
a whole heck of a lot.
Speaker 4 (17:33):
It just continues to rise.
Speaker 3 (17:35):
And there's asset classes on the fixed side that can
help protect you from portions of it. The stock market,
dividend stocks that you know, people often will say, you know, certain,
certainly ones that are linked to inflation. Specifically dividend stocks
can help you. There's bonds that are inflation link just
(17:56):
items that increase in either yield or price as a
function of equities or more so inflation moving higher. You know,
that's very common. Tips are something that people look like. Again,
those treasury instruments that have a mechanism to them that
increases the value of the product when CPI is increasing.
Speaker 4 (18:23):
Right, So those are things that you very.
Speaker 3 (18:24):
Much should at least keep in the back of your
mind if you're worried about inflation. There are things that
keep up with inflation. Commodities tend to you know, property,
real assets tend to keep up with inflation. But it's
tough to sell property quickly when you need it for
monthly income, right, So liquidity is also very important. But yeah,
the inflation problem is always going to be here. You
(18:44):
just need to make sure you hedge it.
Speaker 2 (18:46):
Yeah, and we all know, you know, those of it
that have been around a while.
Speaker 1 (18:48):
Again, just go back and say, oh, it used to
be a price of a gallon of gas or gallon
of milk or anything like that, and just keep multiplying
as inflation, you know rises. I mean, it's it's just
part of life you always have to count for. But
I want to take you back before we go to break.
You mentioned the dividend yielding stocks. People are going, wait
a minute, inflation and the stock market. Break that misconception
about how the stock market does hedge against inflation.
Speaker 2 (19:10):
I that's some important well.
Speaker 3 (19:12):
The stock market if we think of the US stock
market in dollars, right, So, all things being equal, if
inflation occurs and the value of the dollar decreases, yet Amazon,
for example, is still worth the same amount of money,
or rather the same value. I don't want to say
(19:33):
same amount of money because we're talking dollars. Ultimately, the
price should increase to buy the same number of shares
because the value of every one dollar has decreased. Right,
So the stock market tends to move with inflation because
I mean, I'll think of an extreme of a venezuela
or an Argentina right where you can go look and
(19:56):
be like, wow, the Argentinian market's up seventy percent. Here,
it's because the Argentinian dollar or whatever is down sixty percent, right,
It's just the value of the assets are priced in dollars,
So if dollars are losing value, you would technically see
the price of a stock increase just because the value.
Speaker 4 (20:18):
Of said dollar is going down.
Speaker 3 (20:20):
So with all things, yeah, it's confusing, but it is
a reason why the stock market tends to be viewed
as something that helps protect you against a portion of inflation. Ultimately,
it doesn't save you from it, but it is a
diversifier for assets, much like I'd mentioned commodities and other
things that tend to inflate alongside when you get weekend
(20:43):
dollar or inflation pressures.
Speaker 2 (20:45):
There you go.
Speaker 1 (20:45):
Excellent explanation, as always, all right, the retirement reality income check,
that's what we're discussing. Two points down, We got to
eight more of them to go. We're going to hit
those when we come back for Curtin. Over to Jack Saban.
He's got news, traffic and whether Hillojack. Welcome back to
the John Sanchez Show on Newstalk seven eighty K wag
(21:06):
with Jason Gatt once again, our topic the retirement income
reality check, but once again as a reminder, a little
bit of a tough day to day, three thirty four
loss on the dow point seventy one percent now' is
that down two thirteen point ninety three percent in the
S and P five hundred lower by thirty six points
about a half a percent. We're seeing some weakness in
the after hour session due to the earnings a stock performance,
(21:27):
i should say, regarding IBM and Tesla and so on
and so forth. All right, but let's get back to
our topic again, retireek, you got a lot of different
challenges than those that are still working, so we're trying
to highlight these and just get you prepared. So so far,
we've talked about the paycheck gap, right, anxiety. Right, it's
you got a steady paycheck coming in that creates a
lot of uncertainty, so you're fixed there. Try to get
(21:48):
predictable paychecks, do things like structured income ladders, anew ities, bonds,
so on and so forth. The shrinking dollar syndrome. Jason
went ahead and explained that again, every trip to the
grocery store reminds you that prices are, they're not coming back,
and I don't think they ever will. Be honest with you,
I think we're just gonna always, you know, whenever we
talk in place in Jays, I got to head it
to you. It was years ago when a flation started
(22:10):
becoming a problem and you said something I never thought
about before as long as I've been doing this, And
you said, I think we you know, we had a
CPI report and I don't remember the exact number. It
was not what a half a percent or something, and
everyone's like, oh excited. It's like, oh, it's only half
a percent increase in CPI, and you go, that's on
top of the previous three tenths of a percent increase
in the previous you know, four tints that we got,
(22:30):
you know, all these previous months.
Speaker 2 (22:31):
And you're right, it just keeps building. And that's why,
you know, you.
Speaker 4 (22:35):
Just look at it. It's less up.
Speaker 2 (22:37):
You're right, it's less up, exactly.
Speaker 1 (22:39):
It just keeps adding and building on the previous number,
and so on and so forth. So I always get
something to talk about. Okay, So let's get to our
third point, the healthcare wild ride, and the reason I
want to put this point in I read a very
interesting article and I was trying to find out during
the break where it was to the Wall Street Journal
of Bloomberg. So I can't give credit where credit is due.
(23:00):
But it was talking about the healthcare crisis facing America. Right,
we all know this, Jason take a stab latest number.
How much do you think the average and that's a husband, wife,
two kids, how much do you think the average family
is spending per year on medical insurance premiums.
Speaker 3 (23:20):
Family of four medical insurance thirteen thousand bucks.
Speaker 1 (23:29):
More than double twenty seven thousand dollars, twenty seven thousand.
Speaker 4 (23:35):
Dollars out of pocket.
Speaker 3 (23:36):
And that's not outside of what outside of what the
employer is paying.
Speaker 2 (23:40):
Up exactly twenty seven thousand dollars.
Speaker 1 (23:44):
And so the article went on to talk about matter
of fact, they mentioned a couple investment firms like ours, Jason,
relatively small, ten eleven, you know, member firms, et cetera.
And these CEOs of these companies are going, you know,
we really feeling in the impact. And they start talking
about how they're seeing their premiums rise, you know, eleven percent,
(24:05):
twenty percent, so on and so forth. And then they
interviewed one company that was in the construction business. You
a larger company, a couple thousand person firm, and they're like,
we can't. We're after I mean, they've been around forever,
like fifty plus years, Like, we can't pay health insurance
premiums anymore for our employees. They've got to cover it
all themselves, their family. They always had to pay for
(24:25):
their family. But now we as a firm, we can't
do it. The cost is too much. And I think
you're going to see this going, you know, rising over
and over again. We all know it's more expensive. You
never see doctor bills or hospital bills come down, so
you're going to see your insurance premiums continue to rise.
So don't be surprised, you know, come renewal time, which
is you know, usually towards the end of the year,
at the beginning of the next year, if your employee
(24:46):
comes back and goes, hey, you know what, you know
how I used to pay X amount of dollars for
your insurance.
Speaker 2 (24:50):
Or a portion of it. I'm not doing it anymore.
I can't afford to do it.
Speaker 1 (24:53):
It's really becoming a trend because again, twenty seven thousand
dollars is the average cost, but what about three tiree. Well,
one major medical event can completely derail your retirement. You
can have all the assets, all the cash flow you want,
but if you get a bad medical event, it could
derail it all right. Massive medical bills ambulance bills something
(25:14):
that we always tell our clients to do, and I'll
throw it right now. Please, folks, do me a major favor.
Go to I'll get the exact name during the break,
but purchase the air ambulance insurance for Calstar and CareFlight.
Speaker 2 (25:29):
Okay.
Speaker 1 (25:31):
We had a client a few years ago that lived
in Mendon, and out of the blue, she had a stroke,
which usually happens, and she said it was almost forty
thousand dollars to be flown from Mendon, Gardnerville to Reno.
Now I thought that was a little extreme, but again
you don't know because you don't know what kind of
medical care was given to keep her alive and she
was almost dead. I know when I was a voluntari firefighter,
(25:52):
Jason just we're always told when we request an ambulance,
like for any car accident or whatever, it was minute
those skids and this was five years ago, the minute
those skids of the helicopter leave the ground ten thousand
dollars just pulling off the ground, not to mention, of course,
the cost as you fly. So the reason I'm telling
you all this folk. For one hundred and fifty two
(26:14):
hundred dollars right around there, you can buy an air
ambulance insurance through and again I'll get the company that
will ensure you for care Flight and Calstar. You have
to get two separate policies, but those are our two
predominant air ambulances here locally. It is the absolute best
money that you can ever spend. Best because a lot
of medical insurance does not cover air ambulance. Some will
(26:36):
pay a little bit, some will say nope, not covering
it at all. So again very very cheap way. But
back to the healthcare wild card. One major event, of course,
can derail your entire retirement. So one good thing to do,
actually two things. Number one, what's your biggest risk. We
all have this risk statistically, we're all going to need this,
and that is some type of assisted living care, whether
it's in home or out of the home. Please, if
(26:57):
you're in your sixties, it's a little expensive. Your seventies
if you can even give it, But in your sixties
late fifties, start talking about and thinking about purchasing long
term care. It really is not all that expensive compared
to what it will cover. So that's one great way
to avert the healthcare wildcard.
Speaker 2 (27:13):
The second, of.
Speaker 1 (27:14):
Course, is setting aside in a healthcare emergency fund. Right,
you have your emergency fund for normal living, set aside
some extra money for healthcare issues, you know, if you
have to go to a lot of doctor business.
Speaker 2 (27:25):
Of course, if you're sixty five plus, you got Medicare.
Speaker 1 (27:28):
But you know, I was talking to a friend yesterday, Jason,
and he's like, you know, most of us think, oh,
two hundred and eighty three hundred dollars for Medicare.
Speaker 2 (27:35):
He's like, for my wife and I, it starts.
Speaker 1 (27:37):
It's starting at one thousand dollars for Medicare because again
it's based upon income and a few other factors. So
even Medicare now is not cheap. So bottom line is
set aside that healthcare emergency fund. When you're working, and
then even when you're you know, now retired, take some
of your assets put them in a healthcare emergency fund,
so you have it there so you don't disrupt again
your cash flow that's coming in from your investments.
Speaker 2 (28:00):
Go to number four Jay. The too long problem.
Speaker 3 (28:03):
Right, I mean, like healthcare being a big unknown, how
long you're going to live is an unknown as well, right.
The I often joke with people and say, if you
can tell me when you're gonna die, I can be
very precise with this whole financial planning thing.
Speaker 4 (28:16):
And you know, people are living.
Speaker 3 (28:19):
You know, it used to be sixties and then seventies
and then eighties and then nineties. It just not knowing
how long you're going to live. Longevity is an issue.
You mentioned long term care. Those are things that sort
of play into that well. But you need to be
planning to live longer than you think. Everyone's like, oh,
well I'm not going to you know, I didn't think
I was going to live to be twenty one.
Speaker 4 (28:39):
Right now I'm fifty. It just it just happens. As
everyone knows, you blink and.
Speaker 3 (28:44):
You're older and soarer. But you know, when we're doing planning,
I'm planning for folks, ninety three for men and ninety
five for women. That is what my planning software that
I use aims at. And that's what you should be
doing too, so you can hedge against that longevity risk
because it's going to be there.
Speaker 4 (29:04):
You know, income.
Speaker 3 (29:05):
Writers are available through annuities that provide lifetime income. Those
are good ways to keep up with stuff of growth
portfolios if they fit into your risk tolerance. But there
certainly are at least ways to help protect yourself.
Speaker 1 (29:19):
You know, I'm so thrilled you mentioned annuities. I'm so
thrilled because unfortunately, for compliant reasons, we're so limited of
what we could talk about. And we'd love to have
an annuity discussion with you on a one on one basis.
Just call the office at seven seven five eight hundred
and eighteen oh one, because we believe they have a
place in a lot of our well we use them
and a lot of our client's portfolios, and they may
have a place in your portfolio.
Speaker 2 (29:40):
But again, we need to have a discussion with you.
Speaker 1 (29:42):
But Jason, people are n't aware of Once again, we
talked about this longevity risk, and you nailed it.
Speaker 2 (29:47):
You know, ninety plus years we have to plan on living.
Speaker 1 (29:49):
What investment can you get a guarantee that it's going
to pay you for the rest of your life or
maybe you and your wife's life right or spouse's life.
Speaker 2 (29:58):
It's so rare.
Speaker 1 (29:59):
But people you mentioned that a word and people go,
oh my god. No, folks, you have to understand how
they work and most importantly, how they fit into a
well diversified portfolio. They can again change your entire outlook
on retirement income if you understand how they work. So again,
we'd love to have that discussion with you about that
because we're all living longer, you know, And you know,
I'm curious about Jason, is you know with AI you
(30:22):
keep hearing. I mean Google has had a major breakthrough
today in quantum computing and a chip. We don't know
where AI and new technology is going to take us
as far as I mean you always bring this up right,
the biotechs and the science behind it. You know, we
may be having this and I hope we do this
discussion in a five years, three years. Who knows that
it's happening very fast. We're it's no longer the early
(30:43):
nineties that we're planning for. It's one hundred because of
scientific breakthrough. Yeah, because of technology.
Speaker 3 (30:47):
I mean probably tells you a good idea to you know,
look at long term care insurance now, because who knows
if all of a sudden we figure out some way
to prolong life, it's probably gonna go up quite a bit,
So maybe get a little hedge in great point.
Speaker 1 (31:00):
Yeah, there you go, There you go. We're gonna skip
point number five. The market roller coaster. We we all
know about that, and we kind of touched on that earlier.
We'll move to the social security guessing game when we
come back. As we continue our discussion the retirement income
Reality check List, it's turned over to Christin Snow right
now Traffic Center. Hello, Christin, Welcome back to the John
Sanchez Show on News Talk seven eighty k o H
(31:20):
with Jason Gutten. If we can be of a service
to you at our firm by all means, please reach
out to us seven seven five eight hundred eighteen O
one as I said, or online set no point what
Jason or myself Sanchez Gaunt Gaunt dot com and check.
Speaker 4 (31:32):
Your papers ask for the one of the two of us.
We'll do like a little you know, a little you
know thing like you know sometimes you get both of
us too.
Speaker 3 (31:39):
Well, Yeah, we'll do like a or we'll do like
a both pin on the wall to be like yeah,
they want to John.
Speaker 4 (31:43):
They wanted, you know, like a little runoff of some time. Yes,
or ask for both, you can get.
Speaker 2 (31:47):
Us, you know, right, that's right. I love it.
Speaker 1 (31:50):
Good point, and of course I do not forget to
pick up one of our podcasts again. There's hundreds of
them now at Spotify or iTunes. All right, we're talking
once again about the retirementing. Come a reality check. Let's
go to a point number six, Jason, the social Security
guessing game. You know, we hear this all the time,
and I'm not gonna spend a lot of time about this.
Twenty thirty five is supposed to be the magical year
the Social Security runs out of money. But again, I
(32:12):
wish I had a dime for every time over my
career that I've heard it's gonna run out of money.
In my heart of hearts, I don't feel that it
ever will run out of money. But whatever, bottom line
is this strategies right, when do you claim it?
Speaker 3 (32:23):
Do you?
Speaker 1 (32:24):
I was just joking with Jasent Scary in March, I'm
old enough to take Social Security.
Speaker 2 (32:28):
It'll be sixty two. It's like, oh, you're kidding me,
not gonna do it.
Speaker 1 (32:32):
But you know, this is what a lot of people
are starting to think about do I take it at
sixty two? Do I wait till full retirement age? Do
I wait till I'm seventy because you know, from full
retirement age to age seventy, I get an eight percent
guaranteed increase by the government. All these different decisions, that's
part of the cash flow planning process. So no one
answer fits everybody, but do this. Here's the final takeaway.
Look at your Social Security as a supplemental fixed income source.
(32:57):
Don't look at it as the core. A lot of
people do that, and I you know, I don't need
to plan for retirement. I don't need to save. I
don't believe in the stock market or real estate or
anything else. I'm just gonna rely on Social Security. Well,
good luck on that one. Don't do that.
Speaker 2 (33:09):
It's talk about the tax trap in retirement, my friend.
Speaker 3 (33:11):
Yeah, I mean again, planning another whole show. Right, is
iras versus non iras versus roths?
Speaker 4 (33:18):
Where do you take it? When do you take it?
Speaker 3 (33:21):
Do I owe more taxes now than I'm retired versus
when I was working. Once there's an unfortunate death in
the family, spouses, et cetera, you find yourself in a
different tax bracket.
Speaker 4 (33:32):
So this is always something.
Speaker 3 (33:33):
That people tend to get concerned about and another reason
why preemptive tax planning with a financial professional so helpful too,
to know what the right mix is based on your
needs and goals.
Speaker 1 (33:45):
I love it. I love it all right. Point number
eight the silent wealth killer fees and inflation. I'll wait
a minute. Fees, that's how we make our living. We
charge our clients management fees, but we feel we're worth it.
Are the fees that you're paying worth it? If not,
you need to have a discussion with your advisor or
come talk to us because we like to deal on
the institutional side. We try to find institutional pricing. It
(34:06):
can be done with us. I don't know about your
current advisor, but it can be done with us. But
look at what your fees are, right. You need to
understand because they do have an impact, right, So it's
all about value. Are you getting service returns etc? To
validate those fees? If not, please give us a call
and of course deal with folks like us finuciaries.
Speaker 2 (34:23):
We are you know, fee based feduciaries. There's no doubt
about it.
Speaker 1 (34:25):
You know, anybody that's going to hustle you and try
to drive into something where it's just going to be
nothing but commissions, et cetera. Jason, if you don't mind
Alwys throwing the last two because the music's playing, the
family blind spot. You know again the retirement or excuse me,
the estate plan so very important. We know all that
one and then the confidence crisis. Remember eighty percent of
pre retirees say they don't know if they're on track,
and Jason was the solution and not known.
Speaker 4 (34:46):
If you're on track, work with the planner and figure
it out there.
Speaker 1 (34:50):
You go, put it on paper. It's like driving across
the country without a GPS. You can't do it. Can't
get into retirement unless you plan it. In our opinion,
all right, you are now up today on the retirement
income reality Checklist. This is just a dismission of what
we do at our farm by all means. Please give
us a call or go online and set an appointment.
It's really simple. My friend, you're going to be off
the next two days. I wish you a great trip
(35:10):
to go see your incredible son and get a little
bit of beach weather. So I will bless a little.
On Friday, I'll mische, I'll think about you. I may
even call you so yeah, do it please, But I'll
be back tomorrow with the boys. Thanks Jason, had a
great time anybody. As always, We'll do it again tomorrow
on The John Sanchez Show. God Let's have a great afternoon.
John Sanchez is a registered investment advisor, and the opinions
(35:31):
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
statements or opinions are subject to change without notice. Information
(35:51):
presented is for educational purposes only, and does not intend
to make an offer or solicitation for the sale or
purchase of any specific security investments or investment strategies. Investments
involve risk, and, unless otherwise stated orre not guaranteed.
Speaker 2 (36:06):
Information expressed does not take into.
Speaker 1 (36:08):
Account your 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. Past performance is not indicative of future performance.
Good Wednesday afternoon to you. Welcome to the John Sanchez
Show on News Talk seven to eighty. K Oh, it's
a pleasure to be with you. What a pleasure to
be with my partner, Jason Gott.
Speaker 2 (00:09):
How you doing, my friend?
Speaker 3 (00:10):
I'm doing okay. Put a choppy, ugly, messy day today.
Speaker 2 (00:15):
It was a karate day to day in the market.
Speaker 3 (00:17):
Let's put it, Yeah, karate expand expand where's that from?
Speaker 4 (00:21):
Chops?
Speaker 2 (00:23):
Yeah, lots of chops, lots of chop, lot of chopsticks. Yes.
Speaker 1 (00:26):
Indeed, it was my friend who was a choppy day
to day and unfortunately day where we ended a bit
in the red. But you know what, the days all
behind us. All we can do is focus on tomorrow
and that's exactly what we're gonna do. Let me tell
you what we have lined up for you this afternoon,
The retirement income reality check. Yeah, when you get into retirement, folks,
here's one thing that you want to be thinking about,
not so much this how much money you've accumulated, but
(00:48):
what's going to be the cash flow?
Speaker 2 (00:50):
And you know there's something going on right now, and.
Speaker 1 (00:52):
That is this as retiree, you're more anxious now about
running out of money, trying to stay ahead of inflation,
pay the bills, maintain a good stock market performance in
your stock market assets. All of these things culminate together
when you are in retirement, and it can be overwhelming, right,
especially if you're trying to manage the money yourself. There's
so many things going on. I mean, Jason and I
(01:13):
deal with it every single day, hour by hour. You know,
this market moves on headlines, right it It moves on
the President's a true social posts that moves on any
bit of news. The algorithms move the market into dramatic fashion,
and then you get down at the end of the
day and you go, what happened, right, and kind of
like yesterday, I mean, we set a record on the
Dow Jones industrial leverage, right, Jason, and today you know
we give it all back and the two hundred plus
(01:35):
point gain yesterday and a little bit more so now
you start questioning, Okay, it's just the beginning of this
pullback that you and I have been talking a lot about.
I mean, there's a lot of different things, but the
bottom line is this. When you're in retirement, you have
a lot of fears that someone that is working does not,
and that's what we're going to be tackling. We're going
to reveal ten real fears that keep you as a
retiree awake. And if you're not in retirement, don't think
(01:56):
this isn't for you, because at some point, hopefully you
will be able to retire. And I promise you these
fears will not be any different five years, ten years
from now than they are at this particular moment for
those that are actually in retirement. So we put together
a great list of these ten fears, and most importantly,
of course, not only we're gonna tell you what they are.
Speaker 2 (02:13):
But we're gonna give you solutions to those. But we
always like to do so.
Speaker 1 (02:16):
The retirement income reality check will be our topic here momentarily.
In the meantime, my friend, we have a lot of
things that happen during the market hours and also a
few things going on in the after hours. On don't
you take the market hours and I'll take the after hours?
How about that one split?
Speaker 3 (02:31):
Yeah, that sounds like a plan, right, that's the biggest
movers during the day.
Speaker 4 (02:37):
Netflix had earnings.
Speaker 3 (02:39):
Overall, it wasn't much of a miss, but it was
a slight miss. They blamed some issues with taxes in Brazil.
Speaker 2 (02:46):
And yeah, but it'll rezil some money and taxes there fe.
Speaker 4 (02:50):
Yeah, a little bit.
Speaker 3 (02:50):
But it's also just I think, highlights what we've talked
about quite a bit.
Speaker 4 (02:54):
Right.
Speaker 3 (02:55):
When stocks are as high as they are and marketers
as high as they are, you have to outperform what
expectations are in order to keep the balloon afloat, right,
And so in Netflix's case, people probably have a fair
amount of growth inside of that holding, and down ten
percent when all was said and done, is not much
(03:15):
of a surprise the stocks. I mean, they made some
comments about overall doubling their business in a pretty short
window of time, So any hiccup of any kind along
the way just gives people some at least reason to
take some profits. It's all weakness in Texas instruments, that's
another bell weather. Not necessarily on leading edge as far
(03:35):
as an Nvidia or AMD or someone, but more the
I often say the common man with a Texan, right,
it tends to be more in the calculators and more
analog parts of the business that almost get a good
read into the economy, not necessarily AI as a theme, etc. Right,
And they started to talk about some decelerations, slower pace
(03:58):
than previous cycles.
Speaker 4 (03:59):
So on and so forth.
Speaker 3 (04:00):
Those aren't the words you want to hear from a
technology company. They were down about five percent, but Amazon
was weak today again, you can touch on Tesla after
the clothes even Apple gave back about a percent and
a half.
Speaker 4 (04:12):
So small caps, you felt under the cover.
Speaker 3 (04:16):
A lot of these momentum names, the nuclear, the quantum,
those types of names have been underperforming. Right You've felt this,
you know, momentum profit taking, not necessarily the momentum factor
per se, but the high fly in low revenue, low
earnings type companies, there's been some profit taking as you're
(04:40):
getting near the highs, and those are oftentimes the canaries
that we keep an eyeball on. You know, they can
be swift moves high, but they tend to be even
swifter moves lower. And those who have been showing their
hand a little bit. Not to say it's something that
can last forever, but you know, people are the skeptics
are back, I would say, at least near term. I'm
(05:01):
sure they'll be bullish again at some point, but you
feel like there's more of a skeptical theme inside the
market right now.
Speaker 4 (05:07):
So that's really where we are.
Speaker 3 (05:08):
As you mentioned, the Dow was at all time highs
just a day ago, so it's not like we're crashing
by any stretch.
Speaker 4 (05:13):
It's just more of you know, you need.
Speaker 3 (05:16):
To keep things positive and momentum going in order to
keep the market doing so, and any little bumps out
of a Netflix or Texan could have a little bit
of a negative bias into earning season.
Speaker 1 (05:27):
There you go, excellent, Let's go back to the Netflix
story for just a moment, and then we'll work our
way to the clothes and what's going on in the
after hours. So you mentioned it was down ten percent.
I want to throw this out there. That was, by
the way, one hundred and twenty four dollars ninety eight
cent loss, finished at sixteen dollars and thirty seven cents.
But back to this issue with the Street had the
(05:47):
problem with is there's they cited a Brazilian gross tax
on outbound payments that they're dealing, you know, battling the
Brazilian government about. But I think the most important thing
is this could have been a very much of a
over sold condition going on simply because the company said,
look at if it wasn't for this tax issue going on,
(06:09):
we would have surpassed a third quarter of guidance. But investors,
you know, back to your point, I think we're priced
for perfection right now. This is always a dangerous thing
when you're trading it at you know, record levels, and
so your price for a perfection and so the street's like,
we don't care, you know, we know what you report it,
so therefore let's.
Speaker 2 (06:24):
Punish you and hints the reason there.
Speaker 4 (06:26):
You agree on that, Yeah, I know, I completely do.
Speaker 5 (06:28):
Yeah, It's it's always one of those stories to me,
like a Netflix, that they have such a mode and
they seem so impenetrable that at some point they have
to trip up right where people just get tired of it,
or you know, the well they.
Speaker 2 (06:44):
Seem to have on again, off again quarters. It's never consistent.
Speaker 1 (06:46):
You know, they'll go a couple of quarters where things
coming above expectation, then they have one like to this,
they miss and they punish it, and you know, it's
just a they.
Speaker 3 (06:54):
Just have so much IP right, all of these shows
and brands and things and that there. I mean, they
use the analogy this morning that they have at CNBC
talking about that they're have more IP than Disney has
right with all these different shows and such.
Speaker 4 (07:09):
But you get saturation too, where.
Speaker 3 (07:12):
There's only so how many incremental buyers are there?
Speaker 2 (07:16):
Right, say every quarter, it's like where did you just
find that?
Speaker 1 (07:19):
They find them something an additional subscriber, Right, yeah, you're
knocking on doors in third world countries.
Speaker 2 (07:24):
I don't know. I don't know where they come from.
Speaker 4 (07:26):
Airplanes with like little yeah things across the back.
Speaker 1 (07:29):
I can still personally get very frustrated and like you
it's like you have this subscription.
Speaker 2 (07:34):
Or I don't know if you still I don't use it.
Speaker 4 (07:35):
My wife does.
Speaker 2 (07:36):
Yeah, I don't use it either.
Speaker 4 (07:37):
And I'm like, you know, every once in a while
they'll be.
Speaker 2 (07:40):
Like everything is so older than some good.
Speaker 4 (07:43):
You know something comedians.
Speaker 1 (07:46):
You want to watch Top ten for the two thousandth time? Hey,
you can find it on Netflix. It's right there on
the top, you know. Anyways, all right, speaking of technologists,
move on to Apple. You mentioned this one briefly. Some
news came out today. I don't know how valid it is,
but indicating that the demand for the new iPhone air
is weaker than expected, so that pressured the stock four
(08:06):
dollar thirty two cent loss. There you don't want to
mention Amazon real quickly. You touched on this four dollar
and four cent loss one point eight two seventeen ninety nine.
I read an interesting article yesterday, I think it was
in Bloomberg and Jason. It was about Remember we had
a client two or three years ago. I think I
included you in the conversation. He called up and he
(08:26):
was looking for a business. He's retired, but he wanted
to invest some money in a business. And he goes,
what do you think about becoming one of these Amazon
delivery companies? Right? How Amazon started allowing people to you know,
become a company and be an Amazon delivery company. And
you know, we looked at it and stuff and it's like, eh,
long story short. We you know, I told him it
(08:46):
wasn't worthwhile doing it. Well, what's going on now is
these these contractors are just furious at Amazon. They're they're going,
wait a minute here, we're not making nearly the amount
of money that we that we you know, basically were
told we were going to make. Are cost or going
through the roof Amazon which leases the vans back to them,
hit them all with these massive bills, these repair bills
(09:08):
that Amazon ended up backtracking and reducing the amount of
what the bills were going to be. So bottom line,
these these poor contractors, their expensers are going through the
roof and the revenue that Amazon's paying them is going down.
So you know, if you start to see a little
bit of delay and you in your prime delivery or something,
that may be one of the reasons that many of
these people that were interviewed, these contractors like I'm done,
(09:29):
I can't, I can't, I'm you know, I was making
like one person said, yeah, we made you know, I
think met one hundred and twenty thousand last year and
we're gonna be lucky to make seventy five thousand this year.
And it's estep's going down because Amazon is controlling everything
that they do. It's almost a franchise or franchise e model.
So we'll keep an eye on that and see if
that has, you know, any impact down the road. Do
you want to mention into it. Surgical this was a
(09:51):
big performer today. How about some robotics to get your
surgery done?
Speaker 2 (09:54):
Man?
Speaker 1 (09:55):
You see that stock today Jason sixty four dollars and
twenty nine cent gain up thirteen point eight nine percent,
five twenty seven oh three is the close.
Speaker 2 (10:01):
Again, very very good earnings numbers there.
Speaker 1 (10:05):
Now, let's since we're a little heead of schedule, let's
go ahead and jump into the after hour session when
I know many of you are waiting to find out
what happened with Tesla. So the first of all, let
me tell you what the stock is doing in the
after hours. It is down, lost a little bit in
the pre market or in the regular session, but right
now down fifteen dollars and sixty one cents. Again, that
accounts for what happened in the regular session. So three
point five to four percent loss for twenty seven oh three.
(10:28):
The stock moving lower is I guess you would call
it a mixed third quarter result. They made the good news.
Let me get that out of the way first. They
had a twelve percent increase in their third quarter revenue,
brought the number to twenty eight point one billion dollars.
Sales were strong, but the earnings fifty cents a share
after adjustments. That was short of Wall Street's expectation of
fifty five cents. The one that's going to unless it
(10:51):
changes overnight, which usually does not. That could affect the
market tomorrow at least in the pre market is IBM
DOWBT component right now in the after hours of stocks
down eleven dollars and eighty five cents to seventy twenty
good numbers. Matter of fact, the revenue came in line
with the Wall Street's estimates. The consulting and infrastructure business
exceeded projections. Again, overall, it was a top a beat
(11:13):
on the both the top and the bottom line specifics.
They made two dollars and sixty five cents of share
estimates were two dollars and forty five cents.
Speaker 2 (11:20):
Rev came in at sixteen point three to three billion.
Estimates were sixteen point zero nine billion.
Speaker 1 (11:25):
But again the stock coming under pressure back to you
know what you were just saying a moment ago, we're
kind of priced to perfection right now. And if all
of the metrics, their top line, the bottom line, growth numbers,
et cetera, don't exceed Wall Streets expectation, then they go, oh, okay,
thank you, we've had a nice run up to take
a little profit, and they moved to the sidelines on it.
So anything you want to add on those two.
Speaker 3 (11:44):
No, I think again, it's very much a sentiment game
at this point and you got to beat a lot
or you're probably gonna get beat up.
Speaker 1 (11:51):
Yeah, exactly, all right, you're now up to date what
happened in the regular session, up to date on what
happened in the after hours. We'll come back hit the commodities,
interest rates, and then get into our topic, the retirement
come reality check. Let's turn over to Kristen snow right
now traffic Center. Hello, Kristin, welcome back to the John
(12:13):
Sanchez Show on Newstalk seven eighty k H. It's with
Jason Gon. We do appreciate you joining us. The retirement
income reality check coming your way in a moment. First,
let me tell you where these markets finished up a
three hundred and thirty four point loss on the Dow
point seven one percent to a close of forty six thousand,
five ninety and as that lost two hundred and thirteen
points point ninety three percent, SMP down thirty seven or
point five three percent.
Speaker 2 (12:34):
Well, kicking back a.
Speaker 1 (12:35):
Little bit, we've been nicely below the sixty dollars mark,
getting close to it again. Fifty eight to fifty one
is where we closed up a dollar twenty seven for
the day. Doctor're not done selling on gold yet Jay
forty four dollars ninety cent loss, four thousand and sixty
five seventy an ounce.
Speaker 3 (12:50):
Yeah, I think it's just in that bucket of momentum,
right that we talked about.
Speaker 4 (12:53):
It some just.
Speaker 3 (12:54):
Over owned areas that are ready to distribute a little bit.
Speaker 2 (12:57):
And that's right.
Speaker 3 (12:58):
You know, whenever where you get those parabolic moves, they
don't tend to continue.
Speaker 4 (13:03):
You've got to keep a close eye on them. They
reverse pretty quick.
Speaker 3 (13:06):
Not to say that we can't go higher in the future,
which I expect we probably do, but near term, you know,
by the dip may get you in a little bit
of trouble if you're a short term investor for.
Speaker 2 (13:17):
Right, right exactly.
Speaker 1 (13:19):
And finally on the mod field side, very quiet down
just one basis point two you'll close of three point
at ninety five percent, all right. The challenges of a retiree, right,
it's all about the income. That's how you're able to
survive and continue in retirement.
Speaker 2 (13:33):
Right.
Speaker 1 (13:33):
It's all about the amount of money coming in versus
what's going out. But there's a lot of fears going
on with retirees today. And obviously, as we said, they're
always here, and so we thought it'd be a good
time as we start to see more market volatility. You know,
recently it's been on the upside, but we got to
prepare you for the downside when that time happens. And
what do you do if you're a retiree, because remember, folks,
(13:54):
it's always different when you are a retiree, how you view,
how you feel about market volatile and frankly just surviving. Right,
You're on a fixed income and that makes a challenge
in and of itself. So we put together a list
of ten Hopefully we can get to them. If not,
we'll do our very very best on how to solve
the fears that are facing retirees in twenty twenty five.
(14:17):
All right, so the first point that we'll get to,
and then Jason will take point number two. We call
it the pay check gap anxiety. You know, retirees, of course,
you go to a steady paycheck, or from a steady
paycheck to uncertainty. Right, you don't know, especially if you
are driving retirement income off of your portfolio. Right, Let's
say you established I don't know, Let's pick a simple number.
(14:37):
Let's say you got one hundred thousand dollars in your
four oh, one k that you moved to an IRA
when you're retired, you're gonna do a four percent with
draw So you're gonna take four thousand dollars a year
off of this. All right, divide it by twelve at
your monthly income. Well, it was a four percent with
draw rate, okay, pretty common. But what happens if that
one hundred thousand drops two eighty thousand, so you go
through a twenty percent market correction. Now it's not four
(14:58):
percent anymore. It's significantly higher with draw rate. And if
that trend continues fronting length of time, guess what, you
really start eating into that principle. And if it's large
enough eat into the principle, you may never recover. So
you have to sit back and go, Okay, this is
my situation. I'm trying income off of a vautile asset.
What do I need to do? I need to start
deriving more fixed income sources. So the solution, or what
(15:22):
we call the fix to the paycheck gap anxiety, is this,
turn your savings into predictable paychecks, structured income ladder things
like annuities like bonds CDs if the interest rate is
high enough, things that you hear us talk a lot
about from the standpoint that no matter what happens in
the market, that paycheck is going to be coming in
every single month. And this is one thing we do
(15:42):
when we do a cash flow analysis with our clients,
as we again break down our fixed income versus fixed expenses,
variable income versus variable expenses. Don't try to lump variable
expenses and variable Excuse me, you don't try to lump
variable income with against your fixed expenses.
Speaker 2 (16:02):
Right.
Speaker 1 (16:02):
One again is variable. Right, Your stock market is typically
your variable income. Your fixed expenses are things like your
mortgage and car payment and things like that. You don't
want to do that. Again, The ultimate goal when you're
trying to solve this paycheck gap is you want to
try to say, Okay, I've got whatever three thousand dollars
a month coming in fixed income, so things like annuities
and maybe a pension and social Security so on and
(16:24):
so forth. Cool, I got three thousand dollars coming in.
It's going to be here no matter what. What are
my fixed expenses like my mortgage and things. Oh, let's
say they're twenty five hundred dollars. Okay, Well I'm five
hundred dollars positive on my fixed expenses. But what if
your fixed expenses are far greater than your fixed income. Well,
one thing that we do is we then look at
that and go, Okay, what can we do. Let's take
a little bit of money from the variable investments i e.
(16:45):
The stock market and try to put it into some
of those fixing fixed income buckets and again try to
get as much of a steady paycheck coming in. Because again,
things are great right now in the market and the economy,
especially when you're retiree, you have to plan that things
aren't always going to be that way. And nothing is
more scary when you're retiree than deriving almost all of
your retirement income from something like a stock market portfolio.
(17:08):
And then that portfolio drops and you go, oh boy,
you're suffering mentally from seeing that principle drop. But you're
also suffering because that withdraw rate you started out with
is now significantly higher because of the drop. So again,
the fix there is try to derive as much fixed
income as you possibly can from your investments. Oh, Jason,
one of your favorite the shrinking dollar syndrome point number two.
Speaker 3 (17:29):
Yeah, inflation, it hurts, It doesn't tend to go down
a whole heck of a lot.
Speaker 4 (17:33):
It just continues to rise.
Speaker 3 (17:35):
And there's asset classes on the fixed side that can
help protect you from portions of it. The stock market,
dividend stocks that you know, people often will say, you know, certain,
certainly ones that are linked to inflation. Specifically dividend stocks
can help you. There's bonds that are inflation link just
(17:56):
items that increase in either yield or price as a
function of equities or more so inflation moving higher. You know,
that's very common. Tips are something that people look like. Again,
those treasury instruments that have a mechanism to them that
increases the value of the product when CPI is increasing.
Speaker 4 (18:23):
Right, So those are things that you very.
Speaker 3 (18:24):
Much should at least keep in the back of your
mind if you're worried about inflation. There are things that
keep up with inflation. Commodities tend to you know, property,
real assets tend to keep up with inflation. But it's
tough to sell property quickly when you need it for
monthly income, right, So liquidity is also very important. But yeah,
the inflation problem is always going to be here. You
(18:44):
just need to make sure you hedge it.
Speaker 2 (18:46):
Yeah, and we all know, you know, those of it
that have been around a while.
Speaker 1 (18:48):
Again, just go back and say, oh, it used to
be a price of a gallon of gas or gallon
of milk or anything like that, and just keep multiplying
as inflation, you know rises. I mean, it's it's just
part of life you always have to count for. But
I want to take you back before we go to break.
You mentioned the dividend yielding stocks. People are going, wait
a minute, inflation and the stock market. Break that misconception
about how the stock market does hedge against inflation.
Speaker 2 (19:10):
I that's some important well.
Speaker 3 (19:12):
The stock market if we think of the US stock
market in dollars, right, So, all things being equal, if
inflation occurs and the value of the dollar decreases, yet Amazon,
for example, is still worth the same amount of money,
or rather the same value. I don't want to say
(19:33):
same amount of money because we're talking dollars. Ultimately, the
price should increase to buy the same number of shares
because the value of every one dollar has decreased. Right,
So the stock market tends to move with inflation because
I mean, I'll think of an extreme of a venezuela
or an Argentina right where you can go look and
(19:56):
be like, wow, the Argentinian market's up seventy percent. Here,
it's because the Argentinian dollar or whatever is down sixty percent, right,
It's just the value of the assets are priced in dollars,
So if dollars are losing value, you would technically see
the price of a stock increase just because the value.
Speaker 4 (20:18):
Of said dollar is going down.
Speaker 3 (20:20):
So with all things, yeah, it's confusing, but it is
a reason why the stock market tends to be viewed
as something that helps protect you against a portion of inflation. Ultimately,
it doesn't save you from it, but it is a
diversifier for assets, much like I'd mentioned commodities and other
things that tend to inflate alongside when you get weekend
(20:43):
dollar or inflation pressures.
Speaker 2 (20:45):
There you go.
Speaker 1 (20:45):
Excellent explanation, as always, all right, the retirement reality income check,
that's what we're discussing. Two points down, We got to
eight more of them to go. We're going to hit
those when we come back for Curtin. Over to Jack Saban.
He's got news, traffic and whether Hillojack. Welcome back to
the John Sanchez Show on Newstalk seven eighty K wag
(21:06):
with Jason Gatt once again, our topic the retirement income
reality check, but once again as a reminder, a little
bit of a tough day to day, three thirty four
loss on the dow point seventy one percent now' is
that down two thirteen point ninety three percent in the
S and P five hundred lower by thirty six points
about a half a percent. We're seeing some weakness in
the after hour session due to the earnings a stock performance,
(21:27):
i should say, regarding IBM and Tesla and so on
and so forth. All right, but let's get back to
our topic again, retireek, you got a lot of different
challenges than those that are still working, so we're trying
to highlight these and just get you prepared. So so far,
we've talked about the paycheck gap, right, anxiety. Right, it's
you got a steady paycheck coming in that creates a
lot of uncertainty, so you're fixed there. Try to get
(21:48):
predictable paychecks, do things like structured income ladders, anew ities, bonds,
so on and so forth. The shrinking dollar syndrome. Jason
went ahead and explained that again, every trip to the
grocery store reminds you that prices are, they're not coming back,
and I don't think they ever will. Be honest with you,
I think we're just gonna always, you know, whenever we
talk in place in Jays, I got to head it
to you. It was years ago when a flation started
(22:10):
becoming a problem and you said something I never thought
about before as long as I've been doing this, And
you said, I think we you know, we had a
CPI report and I don't remember the exact number. It
was not what a half a percent or something, and
everyone's like, oh excited. It's like, oh, it's only half
a percent increase in CPI, and you go, that's on
top of the previous three tenths of a percent increase
in the previous you know, four tints that we got,
(22:30):
you know, all these previous months.
Speaker 2 (22:31):
And you're right, it just keeps building. And that's why,
you know, you.
Speaker 4 (22:35):
Just look at it. It's less up.
Speaker 2 (22:37):
You're right, it's less up, exactly.
Speaker 1 (22:39):
It just keeps adding and building on the previous number,
and so on and so forth. So I always get
something to talk about. Okay, So let's get to our
third point, the healthcare wild ride, and the reason I
want to put this point in I read a very
interesting article and I was trying to find out during
the break where it was to the Wall Street Journal
of Bloomberg. So I can't give credit where credit is due.
(23:00):
But it was talking about the healthcare crisis facing America. Right,
we all know this, Jason take a stab latest number.
How much do you think the average and that's a husband, wife,
two kids, how much do you think the average family
is spending per year on medical insurance premiums.
Speaker 3 (23:20):
Family of four medical insurance thirteen thousand bucks.
Speaker 1 (23:29):
More than double twenty seven thousand dollars, twenty seven thousand.
Speaker 4 (23:35):
Dollars out of pocket.
Speaker 3 (23:36):
And that's not outside of what outside of what the
employer is paying.
Speaker 2 (23:40):
Up exactly twenty seven thousand dollars.
Speaker 1 (23:44):
And so the article went on to talk about matter
of fact, they mentioned a couple investment firms like ours, Jason,
relatively small, ten eleven, you know, member firms, et cetera.
And these CEOs of these companies are going, you know,
we really feeling in the impact. And they start talking
about how they're seeing their premiums rise, you know, eleven percent,
(24:05):
twenty percent, so on and so forth. And then they
interviewed one company that was in the construction business. You
a larger company, a couple thousand person firm, and they're like,
we can't. We're after I mean, they've been around forever,
like fifty plus years, Like, we can't pay health insurance
premiums anymore for our employees. They've got to cover it
all themselves, their family. They always had to pay for
(24:25):
their family. But now we as a firm, we can't
do it. The cost is too much. And I think
you're going to see this going, you know, rising over
and over again. We all know it's more expensive. You
never see doctor bills or hospital bills come down, so
you're going to see your insurance premiums continue to rise.
So don't be surprised, you know, come renewal time, which
is you know, usually towards the end of the year,
at the beginning of the next year, if your employee
(24:46):
comes back and goes, hey, you know what, you know
how I used to pay X amount of dollars for
your insurance.
Speaker 2 (24:50):
Or a portion of it. I'm not doing it anymore.
I can't afford to do it.
Speaker 1 (24:53):
It's really becoming a trend because again, twenty seven thousand
dollars is the average cost, but what about three tiree. Well,
one major medical event can completely derail your retirement. You
can have all the assets, all the cash flow you want,
but if you get a bad medical event, it could
derail it all right. Massive medical bills ambulance bills something
(25:14):
that we always tell our clients to do, and I'll
throw it right now. Please, folks, do me a major favor.
Go to I'll get the exact name during the break,
but purchase the air ambulance insurance for Calstar and CareFlight.
Speaker 2 (25:29):
Okay.
Speaker 1 (25:31):
We had a client a few years ago that lived
in Mendon, and out of the blue, she had a stroke,
which usually happens, and she said it was almost forty
thousand dollars to be flown from Mendon, Gardnerville to Reno.
Now I thought that was a little extreme, but again
you don't know because you don't know what kind of
medical care was given to keep her alive and she
was almost dead. I know when I was a voluntari firefighter,
(25:52):
Jason just we're always told when we request an ambulance,
like for any car accident or whatever, it was minute
those skids and this was five years ago, the minute
those skids of the helicopter leave the ground ten thousand
dollars just pulling off the ground, not to mention, of course,
the cost as you fly. So the reason I'm telling
you all this folk. For one hundred and fifty two
(26:14):
hundred dollars right around there, you can buy an air
ambulance insurance through and again I'll get the company that
will ensure you for care Flight and Calstar. You have
to get two separate policies, but those are our two
predominant air ambulances here locally. It is the absolute best
money that you can ever spend. Best because a lot
of medical insurance does not cover air ambulance. Some will
(26:36):
pay a little bit, some will say nope, not covering
it at all. So again very very cheap way. But
back to the healthcare wild card. One major event, of course,
can derail your entire retirement. So one good thing to do,
actually two things. Number one, what's your biggest risk. We
all have this risk statistically, we're all going to need this,
and that is some type of assisted living care, whether
it's in home or out of the home. Please, if
(26:57):
you're in your sixties, it's a little expensive. Your seventies
if you can even give it, But in your sixties
late fifties, start talking about and thinking about purchasing long
term care. It really is not all that expensive compared
to what it will cover. So that's one great way
to avert the healthcare wildcard.
Speaker 2 (27:13):
The second, of.
Speaker 1 (27:14):
Course, is setting aside in a healthcare emergency fund. Right,
you have your emergency fund for normal living, set aside
some extra money for healthcare issues, you know, if you
have to go to a lot of doctor business.
Speaker 2 (27:25):
Of course, if you're sixty five plus, you got Medicare.
Speaker 1 (27:28):
But you know, I was talking to a friend yesterday, Jason,
and he's like, you know, most of us think, oh,
two hundred and eighty three hundred dollars for Medicare.
Speaker 2 (27:35):
He's like, for my wife and I, it starts.
Speaker 1 (27:37):
It's starting at one thousand dollars for Medicare because again
it's based upon income and a few other factors. So
even Medicare now is not cheap. So bottom line is
set aside that healthcare emergency fund. When you're working, and
then even when you're you know, now retired, take some
of your assets put them in a healthcare emergency fund,
so you have it there so you don't disrupt again
your cash flow that's coming in from your investments.
Speaker 2 (28:00):
Go to number four Jay. The too long problem.
Speaker 3 (28:03):
Right, I mean, like healthcare being a big unknown, how
long you're going to live is an unknown as well, right.
The I often joke with people and say, if you
can tell me when you're gonna die, I can be
very precise with this whole financial planning thing.
Speaker 4 (28:16):
And you know, people are living.
Speaker 3 (28:19):
You know, it used to be sixties and then seventies
and then eighties and then nineties. It just not knowing
how long you're going to live. Longevity is an issue.
You mentioned long term care. Those are things that sort
of play into that well. But you need to be
planning to live longer than you think. Everyone's like, oh,
well I'm not going to you know, I didn't think
I was going to live to be twenty one.
Speaker 4 (28:39):
Right now I'm fifty. It just it just happens. As
everyone knows, you blink and.
Speaker 3 (28:44):
You're older and soarer. But you know, when we're doing planning,
I'm planning for folks, ninety three for men and ninety
five for women. That is what my planning software that
I use aims at. And that's what you should be
doing too, so you can hedge against that longevity risk
because it's going to be there.
Speaker 4 (29:04):
You know, income.
Speaker 3 (29:05):
Writers are available through annuities that provide lifetime income. Those
are good ways to keep up with stuff of growth
portfolios if they fit into your risk tolerance. But there
certainly are at least ways to help protect yourself.
Speaker 1 (29:19):
You know, I'm so thrilled you mentioned annuities. I'm so
thrilled because unfortunately, for compliant reasons, we're so limited of
what we could talk about. And we'd love to have
an annuity discussion with you on a one on one basis.
Just call the office at seven seven five eight hundred
and eighteen oh one, because we believe they have a
place in a lot of our well we use them
and a lot of our client's portfolios, and they may
have a place in your portfolio.
Speaker 2 (29:40):
But again, we need to have a discussion with you.
Speaker 1 (29:42):
But Jason, people are n't aware of Once again, we
talked about this longevity risk, and you nailed it.
Speaker 2 (29:47):
You know, ninety plus years we have to plan on living.
Speaker 1 (29:49):
What investment can you get a guarantee that it's going
to pay you for the rest of your life or
maybe you and your wife's life right or spouse's life.
Speaker 2 (29:58):
It's so rare.
Speaker 1 (29:59):
But people you mentioned that a word and people go,
oh my god. No, folks, you have to understand how
they work and most importantly, how they fit into a
well diversified portfolio. They can again change your entire outlook
on retirement income if you understand how they work. So again,
we'd love to have that discussion with you about that
because we're all living longer, you know, And you know,
I'm curious about Jason, is you know with AI you
(30:22):
keep hearing. I mean Google has had a major breakthrough
today in quantum computing and a chip. We don't know
where AI and new technology is going to take us
as far as I mean you always bring this up right,
the biotechs and the science behind it. You know, we
may be having this and I hope we do this
discussion in a five years, three years. Who knows that
it's happening very fast. We're it's no longer the early
(30:43):
nineties that we're planning for. It's one hundred because of
scientific breakthrough. Yeah, because of technology.
Speaker 3 (30:47):
I mean probably tells you a good idea to you know,
look at long term care insurance now, because who knows
if all of a sudden we figure out some way
to prolong life, it's probably gonna go up quite a bit,
So maybe get a little hedge in great point.
Speaker 1 (31:00):
Yeah, there you go, There you go. We're gonna skip
point number five. The market roller coaster. We we all
know about that, and we kind of touched on that earlier.
We'll move to the social security guessing game when we
come back. As we continue our discussion the retirement income
Reality check List, it's turned over to Christin Snow right
now Traffic Center. Hello, Christin, Welcome back to the John
Sanchez Show on News Talk seven eighty k o H
(31:20):
with Jason Gutten. If we can be of a service
to you at our firm by all means, please reach
out to us seven seven five eight hundred eighteen O
one as I said, or online set no point what
Jason or myself Sanchez Gaunt Gaunt dot com and check.
Speaker 4 (31:32):
Your papers ask for the one of the two of us.
We'll do like a little you know, a little you
know thing like you know sometimes you get both of
us too.
Speaker 3 (31:39):
Well, Yeah, we'll do like a or we'll do like
a both pin on the wall to be like yeah,
they want to John.
Speaker 4 (31:43):
They wanted, you know, like a little runoff of some time. Yes,
or ask for both, you can get.
Speaker 2 (31:47):
Us, you know, right, that's right. I love it.
Speaker 1 (31:50):
Good point, and of course I do not forget to
pick up one of our podcasts again. There's hundreds of
them now at Spotify or iTunes. All right, we're talking
once again about the retirementing. Come a reality check. Let's
go to a point number six, Jason, the social Security
guessing game. You know, we hear this all the time,
and I'm not gonna spend a lot of time about this.
Twenty thirty five is supposed to be the magical year
the Social Security runs out of money. But again, I
(32:12):
wish I had a dime for every time over my
career that I've heard it's gonna run out of money.
In my heart of hearts, I don't feel that it
ever will run out of money. But whatever, bottom line
is this strategies right, when do you claim it?
Speaker 3 (32:23):
Do you?
Speaker 1 (32:24):
I was just joking with Jasent Scary in March, I'm
old enough to take Social Security.
Speaker 2 (32:28):
It'll be sixty two. It's like, oh, you're kidding me,
not gonna do it.
Speaker 1 (32:32):
But you know, this is what a lot of people
are starting to think about do I take it at
sixty two? Do I wait till full retirement age? Do
I wait till I'm seventy because you know, from full
retirement age to age seventy, I get an eight percent
guaranteed increase by the government. All these different decisions, that's
part of the cash flow planning process. So no one
answer fits everybody, but do this. Here's the final takeaway.
Look at your Social Security as a supplemental fixed income source.
(32:57):
Don't look at it as the core. A lot of
people do that, and I you know, I don't need
to plan for retirement. I don't need to save. I
don't believe in the stock market or real estate or
anything else. I'm just gonna rely on Social Security. Well,
good luck on that one. Don't do that.
Speaker 2 (33:09):
It's talk about the tax trap in retirement, my friend.
Speaker 3 (33:11):
Yeah, I mean again, planning another whole show. Right, is
iras versus non iras versus roths?
Speaker 4 (33:18):
Where do you take it? When do you take it?
Speaker 3 (33:21):
Do I owe more taxes now than I'm retired versus
when I was working. Once there's an unfortunate death in
the family, spouses, et cetera, you find yourself in a
different tax bracket.
Speaker 4 (33:32):
So this is always something.
Speaker 3 (33:33):
That people tend to get concerned about and another reason
why preemptive tax planning with a financial professional so helpful too,
to know what the right mix is based on your
needs and goals.
Speaker 1 (33:45):
I love it. I love it all right. Point number
eight the silent wealth killer fees and inflation. I'll wait
a minute. Fees, that's how we make our living. We
charge our clients management fees, but we feel we're worth it.
Are the fees that you're paying worth it? If not,
you need to have a discussion with your advisor or
come talk to us because we like to deal on
the institutional side. We try to find institutional pricing. It
(34:06):
can be done with us. I don't know about your
current advisor, but it can be done with us. But
look at what your fees are, right. You need to
understand because they do have an impact, right, So it's
all about value. Are you getting service returns etc? To
validate those fees? If not, please give us a call
and of course deal with folks like us finuciaries.
Speaker 2 (34:23):
We are you know, fee based feduciaries. There's no doubt
about it.
Speaker 1 (34:25):
You know, anybody that's going to hustle you and try
to drive into something where it's just going to be
nothing but commissions, et cetera. Jason, if you don't mind
Alwys throwing the last two because the music's playing, the
family blind spot. You know again the retirement or excuse me,
the estate plan so very important. We know all that
one and then the confidence crisis. Remember eighty percent of
pre retirees say they don't know if they're on track,
and Jason was the solution and not known.
Speaker 4 (34:46):
If you're on track, work with the planner and figure
it out there.
Speaker 1 (34:50):
You go, put it on paper. It's like driving across
the country without a GPS. You can't do it. Can't
get into retirement unless you plan it. In our opinion,
all right, you are now up today on the retirement
income reality Checklist. This is just a dismission of what
we do at our farm by all means. Please give
us a call or go online and set an appointment.
It's really simple. My friend, you're going to be off
the next two days. I wish you a great trip
(35:10):
to go see your incredible son and get a little
bit of beach weather. So I will bless a little.
On Friday, I'll mische, I'll think about you. I may
even call you so yeah, do it please, But I'll
be back tomorrow with the boys. Thanks Jason, had a
great time anybody. As always, We'll do it again tomorrow
on The John Sanchez Show. God Let's have a great afternoon.
John Sanchez is a registered investment advisor, and the opinions
(35:31):
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
statements or opinions are subject to change without notice. Information
(35:51):
presented is for educational purposes only, and does not intend
to make an offer or solicitation for the sale or
purchase of any specific security investments or investment strategies. Investments
involve risk, and, unless otherwise stated orre not guaranteed.
Speaker 2 (36:06):
Information expressed does not take into.
Speaker 1 (36:08):
Account your 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. Past performance is not indicative of future performance.
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