December 17, 2024 • 13 mins
Jon Hicks discusses how retirees can create a meaningful legacy through charitable giving & volunteering and highlights the late Bernie Marcus's (co-founder of Home Depot) intention to donate 90% of his wealth with the stipulation that it must be spent within 20 years. Jon emphasizes that contributing time and skills can be as impactful as monetary donations. He urges retirees to consider how they can utilize their resources to benefit their communities and create lasting positive changes. Visit RetirementSolutionShow.com to explore what your legacy plan could look like!See omnystudio.com/listener for privacy information.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
This is the Retirement Solution Podcast with financial advisor John Hicks,
founder of Jayhagen Capital.
Speaker 2 (00:07):
Thanks for joining us here on the Retirement Solution with
Financial Advisor John Hicks. Here to help you have better
understanding about your opportunities for your money when it comes
to that nest egg that is so precious to you.
Working to now make it work for you and your
retirement yours is the goal of John and his entire
team at jay hidden Capital. So let's get started helping
(00:29):
you again understand those opportunities. Retirement Solutions Show dot com
is where you can do it. We also have links
posted in the show notes, so again it's Retirement Solutions
Show dot com. So the name Bernie Marcus I was
saying to you before we started on the air, I said, Bernie, You.
Speaker 3 (00:47):
Didn't say Bernie madeoff. That's see, that's good starts off.
Speaker 4 (00:50):
There's lots of Bernie's in this in this space that
we decided sandus Hey, I said, no, not toker raad.
Speaker 3 (00:57):
Let's make America mediocre again. Oh my bad, my bad,
I forget I Heeart didn't like it. When I did
Bernie Sanders. People thought that was the real guy.
Speaker 4 (01:05):
That's not the real guy impression. Come on, he's not
the one we're talking about to.
Speaker 3 (01:11):
I want to talk about that Bernie Martiny Marcus, founder
of Home Depot one of the So was there founded
out of Atlanta? Was that founded out of Georgia?
Speaker 4 (01:20):
Bernie Marcus and Arthur Blank? Was there a third?
Speaker 3 (01:23):
Blank?
Speaker 4 (01:23):
Was there a third?
Speaker 3 (01:24):
Then there may have been, because Arthur Blank still owns
the Falcons.
Speaker 2 (01:27):
Or the Falcons and then he owns another one of
the big soccer teams, you know at the MLS soccer
league in the country.
Speaker 3 (01:34):
Yeah.
Speaker 2 (01:35):
So, whether or not you're super familiar with Bernie Marcus,
you're definitely familiar with your Saturday afternoons at.
Speaker 4 (01:40):
The Home Depot.
Speaker 3 (01:41):
Absolutely, we have all too.
Speaker 2 (01:43):
Many days and weekends standing in the Isle of China,
pretend like we know what we're doing, just hoping that
some nice person in the Orange aprin approaches us and
saves us from ourselves in the isle that we're standing in.
Speaker 3 (01:54):
Absolutely, is this the right call, because, like sir, that
is silly putty. Oh wow, my phone told me the
aisle seventeen. I didn't know that, My bad.
Speaker 2 (02:04):
What would we do with that them? What would we
do with our weekends? Without the hum deepot one asks.
Speaker 3 (02:09):
Here, just enjoy them. We would actually enjoy them. If
I didn't have all this honey doo.
Speaker 2 (02:15):
De list would be lot shorter because we wouldn't have
so many opportunities.
Speaker 4 (02:18):
I don't even know where to buy.
Speaker 3 (02:19):
All this stuff.
Speaker 4 (02:20):
My wife.
Speaker 3 (02:21):
No one knows honeydew really means honey. Call somebody, huh.
And so you know, response is just go ahead. You
don't need to tell me. Just go ahead and give
them a ring and see what they say. Chances are
you just cut out the middleman. I am no good
in that situation.
Speaker 2 (02:36):
I appreciate a person who knows their strengths and weaknesses.
What were we talking about, an ice maker or something
that you were gonna like? You're like, I'm gonna fix
it myself, And it ended up trusting you more without
question then you would have. Had you just call the
repair person in the first place.
Speaker 3 (02:49):
It would it ended up costing me more than if
I just bought a new one in the first place.
That's how much I messed stuff up. I get getting
water a shot all between the drywall. They didn't causing
O la la la lah open all that crap up
and like it was just and.
Speaker 2 (03:05):
That was the moment that to me all started saying,
just call people, please, don't try to fix it.
Speaker 4 (03:09):
Yes, please don't go to the home peoples anyway.
Speaker 3 (03:12):
Yeah, the only time we go to home depot. She's like, come,
help me pick.
Speaker 4 (03:15):
Out some paint colors. Where did the architects say.
Speaker 3 (03:17):
Let's just start there and then just give me the
two to decide between, right, and make sure you just
narrow it down, but the one that you want right
in front of my face first. Yeah, and then we're good. Yeah,
it's all fine. Happy wife, happy life, happy wife. See
what I did there?
Speaker 4 (03:35):
I did?
Speaker 2 (03:37):
Yes, Okay, thinking about Bernie Marcus though, because yes, unfortunately
he did recently just pass It gets stepends on how
you look at it.
Speaker 4 (03:44):
He was ninety five years old.
Speaker 2 (03:46):
Five. That's that is a long, healthy, happy, productive life.
He passed away with a net worth of over ten
billion dollars.
Speaker 4 (03:58):
It's a few bucks, however, he in his retirement years.
Speaker 2 (04:02):
If somebody whose worth ten billion dollars ever really retires.
He was known as being one of the nation's biggest philanthropists.
And it was just a few years back he was
actually talking to the Atlanta Journal Constitution a newspaper in Atlanta,
and this is what he said.
Speaker 4 (04:17):
Hey, listen, I don't need anything else.
Speaker 2 (04:20):
I got all the houses I need.
Speaker 3 (04:21):
I live very well.
Speaker 1 (04:22):
My kids are taken care of everything.
Speaker 3 (04:25):
I live.
Speaker 5 (04:25):
For now was finding the right things to put my
money into that could give me a rate to return
in emotion and doing good for this world.
Speaker 3 (04:33):
That's about it.
Speaker 2 (04:34):
Giving me a rate of return in emotion, I think
is such a great way to describe what so many
people are seeking when they get to a certain place
of life, be a certain level of success, not just emotion.
There's so many different ways to have that rate of
tr motion with your family, with charitable things, so many
(04:58):
different ways to look at it. So, and you and
I have had lots of conversations about the importance of
legacy and estate planning at jay Hagen Capital, and that's
what I wanted to talk to you about, thinking about
how you create these things, creating plans for loved ones
and charitable causes people are passionate about.
Speaker 5 (05:15):
Yeah.
Speaker 3 (05:15):
So, I think one of the things I've said for
a long time, and I learned this, you know, there
was there have been many people over the years, many clients,
many people that I've run into people in my industry
frankly that I learned from kind of like mentors like John.
You know, here's the thing, it doesn't do you any
necessarily any good. If you know you're in you have
a tombstone and it says you had a million dollars
(05:36):
or you had four million dollars, it really doesn't make
any difference. The question is what did you do while
you were still above ground? What did you do when
you weren't six feet under? That's what makes a difference.
So do your given why you're living. And I just
remember thinking about that in so many different ways. And
so you know, when when we're typically in my office
when we're talking about retirement, it's kind of like, Okay,
first of all, all I have to do is figure
(05:56):
out what you want it to look like. Do you
want to keep the basically the the exact same financial
means that you've had while you've been working. For a
lot of people that have done a good job saving
they've saved seven hundred and fifty million two three four
million bucks, they can live probably exactly the way that
they were living when they were working without having to
work at all. So that part is really not that complicated,
(06:18):
And this is probably one of the bigger things that
I think about all the time. People say, John, I
got seven million bucks. Dude, I got four million dollars,
I got three million dollars. I got one and a
half million bucks. I got more than enough money. Or hey,
I've got a million bucks, but like I can live
off social Security. They feel that they're fine, and I
completely agree with that, and there's truth to that. You
may not need a financial advisor. The amazing thing, though,
(06:38):
is is that what happens when you can actually be
efficient with the usage of those dollars. What if not
only could you live the way you wanted, but you
could pass on, not when you're gone thirty years from now.
What if you could pass on and send every single
one of your kids or grandkids to college the ones
that they get into, not just the ones that the
(06:59):
state schools that you feel like maybe you would be affordable.
What if you could do that. I have one client
that actually did that this past year. He had two
kids that got into Duke Boo. I had to say
that it's a great school, unbelievably expensive, but coming on anyway,
it doesn't matter if you're a UK or a U
of L Fan Duke. It is what it is. But
he had two grandkids that he put through Duke. One
(07:20):
of them that is going to Harvard Law School did
not get a single dollar to go, and another one
that's actually going to do med school at Emory in Atlanta.
And these unbelievably smart kids because they had unbelievably smart parents.
Because he's the grandfather. And here's what he said, he goes.
I felt so good that even though I lived the
way I did, I was able if they needed it,
if they didn't need it, it's fine to write a
(07:43):
check for every one of them for them to go
to those schools. Now, are they going to have thirty
million dollars when I'm gone? No, But I'm doing my
giving while I'm living where I feel like it will
make the biggest difference for not only his immediate family,
but for the entire lineage of his family. And I
thought to myself that that is unbelievable, and you'd be surprised.
(08:05):
It did not cost nearly as much money as you think.
It just took careful planning, and it actually took a
lot of understanding on the things that he still could
do and the things that he wouldn't be giving up from.
But he's not going to see all those dollars accumulating, accumulating,
accumulating account because guys, if you think about it, that's
pretty worthless. Instead of just having all that extra accumulation
(08:26):
if you had the exact same amount, but you helped
out fifty families in need, just your own family in need.
You did the things that you wanted to do. Or
let's just be self serving for a minute. You just
decided that you wanted to take all the kids and
grandkids on Disney cruises every year for the holidays because
you enjoy it, because it's fun for you. Or you
want to rent a lake house in a gorgeous part
(08:46):
of the country, not just around the corner, for three
whole months because you don't know when each of your
kids and grandkids can get out of school, get off
of work, take the top, so you're there so whenever
they come to visit you, you have that opportunity to
show that with them. Now, you don't want to buy
the place because you don't want the maintenance, the upkeep,
the property taxes, the headache, the hassle. But those are
(09:06):
things that I think are very unique and those are
the things that we want to encourage people to think about.
There was a couple that just came in and he
had been a physician for his entire life, and he
had done very, very, very well, and we had this conversation.
I'm like, listen, guys, there's no question that you're going
to have a great retirement. I mean, that's part's fine.
What are the dreams? What are the thoughts when you
(09:27):
first got married? What are the things? I was like,
you're not going to know these today, but we'll get
back together at the very beginning of the year, and
I really want you to have some thought about this.
What are the things that you promised each other in
the very beginning? Did you do them? Because now you're
going to get the opportunity. He's starting to wind it down.
They have ample amounts of money, they have the house
they want, their kids are completely set. They're all very successful,
(09:48):
and it's kind of like, what are the things that
you want to do. And here's the amazing thing. He said,
I would like to maybe do doctors without porters, you know,
I would let maybe to do those type maybe you know,
fix some cleft, you know, powers and things like that.
But I know that it's going to not just be
for a week, it'd be for a period of time.
I'm like and and his wife was just like, that's
a great idea.
Speaker 5 (10:08):
I'd love to do that.
Speaker 3 (10:08):
We could see parts of the country the world we've
never seen before. And that started to stimulate that. And
I was like, Hey, you don't have to tell me
anything today, but go back, go have lunch after this,
go talk about that, think about some of those things,
because you can create a legacy, and not only that,
you can maybe create true philanthropy or true charitable giving.
And you don't have to just give money, guys, you
(10:30):
can give time, your skill set. I can't tell you
how many unbelievable craftsmen there are out there, and just
in the regional area, whether you know plumbing or hvac
or do you know how many people need those services?
So you know, I know that, you know, it's one
thing you can go out there and hang out a
shingle and make some more money. But sometimes just people
in your own church just really they got a gutter issue, yeah, right,
(10:53):
plumbing issue is and that they really can't afford it.
Those are things that I want people to think about
we can be productive members of the society without having
to make money. The question is how do we want
to do it. So it's very interesting because I saw
that Bernie Marcus was going to give away ninety percent
of his money. So if he's worth ten billion, he
basically said, I'm going to give away nine billion because
(11:14):
my kids are fine. And see, like he said, I've
got all the other stuff, like they're gonna have a
billion dollars, you know, amongst them. He said, but you know,
I'm gonna give it away. And here's an interesting thing
I saw about it. The charities he's giving it to.
They're not allowed to just put it in a foundation
and let it grow through the roof. They have to
basically spend it all in the next twenty years. I
(11:34):
love that because that means that he's not just turning
a nine billion into forty billion and then the interest
off that he's not doing that.
Speaker 4 (11:40):
He said, no, he wants you to do purpose. He
wants it to go.
Speaker 2 (11:44):
Yeah.
Speaker 3 (11:44):
I love that because I'm going to start using those
concepts in my own office for my own clients because
it's so important. Where can you make an impact today
that you wish was there when you were young, or
you look around and you see the issue today. Look
at some of those things, I think it's great. So
when anyone is chairly inclined, it's wonderful. Yeah, but believe it,
you do not have to be charitably inclined to have
(12:04):
a servant's heart into want to give back. Those are
the things that you want to be thinking. It's not
just money to grow, it's money to use productively for
whatever those purposes you want to use it for. Think
about that today and think about if your current plan
accommodates for that. If it doesn't, maybe give us a
call and then get a second opinion.
Speaker 2 (12:21):
Putting your money to work for you, for your family,
for other people in your community, within charities and churches
that you know and love and participating in. This is
how you can take that money that you've worked so
hard to turn and save and make it continue to
work for you, as I was saying, for you and
so many people in so many different ways, through the
(12:43):
proper planning process, which is what John and his team
are here to help you figure out. So get to
our website, Retirement Solutions show dot com. That's where you
can begin the conversation figuring out your own legacy plans,
doing your given while you're living. It's not even after
you've left the planet. It's such an important conversation to have.
We also have links posted in the show as organ
It's Retirement Solutions Show dot com.
Speaker 1 (13:04):
Thanks for listening to The Retirement Solution Podcast with John Hicks.
Begin the conversation about your savings plan with John and
the team at Jayhagen Capital by visiting Retirement Solution Radio
dot com. Be sure to listen to John's radio show,
The Retirement Solution Saturdays at eight am and Sundays at
nine am on NewsRadio eight forty whas.
Speaker 5 (13:26):
Jhagen Capital Incorporated is not licensed in all fifty states.
To find out if Jahiggan Capital Incorporated is licensed in
your state, please call five zero two six nine oh
fifty six thirty five. J Higan Capital, Incorporated is not
affiliated with, nor endorsed by the Social Security Administration or
any other government agency, and does not provide legal or
tax advice. By contacting us, you may be provided with
information about insurance and annuity products offered through Jjgincapital LLCNPN
(13:47):
number one eight eight two seven zero nine four
This is the Retirement Solution Podcast with financial advisor John Hicks,
founder of Jayhagen Capital.
Speaker 2 (00:07):
Thanks for joining us here on the Retirement Solution with
Financial Advisor John Hicks. Here to help you have better
understanding about your opportunities for your money when it comes
to that nest egg that is so precious to you.
Working to now make it work for you and your
retirement yours is the goal of John and his entire
team at jay hidden Capital. So let's get started helping
(00:29):
you again understand those opportunities. Retirement Solutions Show dot com
is where you can do it. We also have links
posted in the show notes, so again it's Retirement Solutions
Show dot com. So the name Bernie Marcus I was
saying to you before we started on the air, I said, Bernie, You.
Speaker 3 (00:47):
Didn't say Bernie madeoff. That's see, that's good starts off.
Speaker 4 (00:50):
There's lots of Bernie's in this in this space that
we decided sandus Hey, I said, no, not toker raad.
Speaker 3 (00:57):
Let's make America mediocre again. Oh my bad, my bad,
I forget I Heeart didn't like it. When I did
Bernie Sanders. People thought that was the real guy.
Speaker 4 (01:05):
That's not the real guy impression. Come on, he's not
the one we're talking about to.
Speaker 3 (01:11):
I want to talk about that Bernie Martiny Marcus, founder
of Home Depot one of the So was there founded
out of Atlanta? Was that founded out of Georgia?
Speaker 4 (01:20):
Bernie Marcus and Arthur Blank? Was there a third?
Speaker 3 (01:23):
Blank?
Speaker 4 (01:23):
Was there a third?
Speaker 3 (01:24):
Then there may have been, because Arthur Blank still owns
the Falcons.
Speaker 2 (01:27):
Or the Falcons and then he owns another one of
the big soccer teams, you know at the MLS soccer
league in the country.
Speaker 3 (01:34):
Yeah.
Speaker 2 (01:35):
So, whether or not you're super familiar with Bernie Marcus,
you're definitely familiar with your Saturday afternoons at.
Speaker 4 (01:40):
The Home Depot.
Speaker 3 (01:41):
Absolutely, we have all too.
Speaker 2 (01:43):
Many days and weekends standing in the Isle of China,
pretend like we know what we're doing, just hoping that
some nice person in the Orange aprin approaches us and
saves us from ourselves in the isle that we're standing in.
Speaker 3 (01:54):
Absolutely, is this the right call, because, like sir, that
is silly putty. Oh wow, my phone told me the
aisle seventeen. I didn't know that, My bad.
Speaker 2 (02:04):
What would we do with that them? What would we
do with our weekends? Without the hum deepot one asks.
Speaker 3 (02:09):
Here, just enjoy them. We would actually enjoy them. If
I didn't have all this honey doo.
Speaker 2 (02:15):
De list would be lot shorter because we wouldn't have
so many opportunities.
Speaker 4 (02:18):
I don't even know where to buy.
Speaker 3 (02:19):
All this stuff.
Speaker 4 (02:20):
My wife.
Speaker 3 (02:21):
No one knows honeydew really means honey. Call somebody, huh.
And so you know, response is just go ahead. You
don't need to tell me. Just go ahead and give
them a ring and see what they say. Chances are
you just cut out the middleman. I am no good
in that situation.
Speaker 2 (02:36):
I appreciate a person who knows their strengths and weaknesses.
What were we talking about, an ice maker or something
that you were gonna like? You're like, I'm gonna fix
it myself, And it ended up trusting you more without
question then you would have. Had you just call the
repair person in the first place.
Speaker 3 (02:49):
It would it ended up costing me more than if
I just bought a new one in the first place.
That's how much I messed stuff up. I get getting
water a shot all between the drywall. They didn't causing
O la la la lah open all that crap up
and like it was just and.
Speaker 2 (03:05):
That was the moment that to me all started saying,
just call people, please, don't try to fix it.
Speaker 4 (03:09):
Yes, please don't go to the home peoples anyway.
Speaker 3 (03:12):
Yeah, the only time we go to home depot. She's like, come,
help me pick.
Speaker 4 (03:15):
Out some paint colors. Where did the architects say.
Speaker 3 (03:17):
Let's just start there and then just give me the
two to decide between, right, and make sure you just
narrow it down, but the one that you want right
in front of my face first. Yeah, and then we're good. Yeah,
it's all fine. Happy wife, happy life, happy wife. See
what I did there?
Speaker 4 (03:35):
I did?
Speaker 2 (03:37):
Yes, Okay, thinking about Bernie Marcus though, because yes, unfortunately
he did recently just pass It gets stepends on how
you look at it.
Speaker 4 (03:44):
He was ninety five years old.
Speaker 2 (03:46):
Five. That's that is a long, healthy, happy, productive life.
He passed away with a net worth of over ten
billion dollars.
Speaker 4 (03:58):
It's a few bucks, however, he in his retirement years.
Speaker 2 (04:02):
If somebody whose worth ten billion dollars ever really retires.
He was known as being one of the nation's biggest philanthropists.
And it was just a few years back he was
actually talking to the Atlanta Journal Constitution a newspaper in Atlanta,
and this is what he said.
Speaker 4 (04:17):
Hey, listen, I don't need anything else.
Speaker 2 (04:20):
I got all the houses I need.
Speaker 3 (04:21):
I live very well.
Speaker 1 (04:22):
My kids are taken care of everything.
Speaker 3 (04:25):
I live.
Speaker 5 (04:25):
For now was finding the right things to put my
money into that could give me a rate to return
in emotion and doing good for this world.
Speaker 3 (04:33):
That's about it.
Speaker 2 (04:34):
Giving me a rate of return in emotion, I think
is such a great way to describe what so many
people are seeking when they get to a certain place
of life, be a certain level of success, not just emotion.
There's so many different ways to have that rate of
tr motion with your family, with charitable things, so many
(04:58):
different ways to look at it. So, and you and
I have had lots of conversations about the importance of
legacy and estate planning at jay Hagen Capital, and that's
what I wanted to talk to you about, thinking about
how you create these things, creating plans for loved ones
and charitable causes people are passionate about.
Speaker 5 (05:15):
Yeah.
Speaker 3 (05:15):
So, I think one of the things I've said for
a long time, and I learned this, you know, there
was there have been many people over the years, many clients,
many people that I've run into people in my industry
frankly that I learned from kind of like mentors like John.
You know, here's the thing, it doesn't do you any
necessarily any good. If you know you're in you have
a tombstone and it says you had a million dollars
(05:36):
or you had four million dollars, it really doesn't make
any difference. The question is what did you do while
you were still above ground? What did you do when
you weren't six feet under? That's what makes a difference.
So do your given why you're living. And I just
remember thinking about that in so many different ways. And
so you know, when when we're typically in my office
when we're talking about retirement, it's kind of like, Okay,
first of all, all I have to do is figure
(05:56):
out what you want it to look like. Do you
want to keep the basically the the exact same financial
means that you've had while you've been working. For a
lot of people that have done a good job saving
they've saved seven hundred and fifty million two three four
million bucks, they can live probably exactly the way that
they were living when they were working without having to
work at all. So that part is really not that complicated,
(06:18):
And this is probably one of the bigger things that
I think about all the time. People say, John, I
got seven million bucks. Dude, I got four million dollars,
I got three million dollars. I got one and a
half million bucks. I got more than enough money. Or hey,
I've got a million bucks, but like I can live
off social Security. They feel that they're fine, and I
completely agree with that, and there's truth to that. You
may not need a financial advisor. The amazing thing, though,
(06:38):
is is that what happens when you can actually be
efficient with the usage of those dollars. What if not
only could you live the way you wanted, but you
could pass on, not when you're gone thirty years from now.
What if you could pass on and send every single
one of your kids or grandkids to college the ones
that they get into, not just the ones that the
(06:59):
state schools that you feel like maybe you would be affordable.
What if you could do that. I have one client
that actually did that this past year. He had two
kids that got into Duke Boo. I had to say
that it's a great school, unbelievably expensive, but coming on anyway,
it doesn't matter if you're a UK or a U
of L Fan Duke. It is what it is. But
he had two grandkids that he put through Duke. One
(07:20):
of them that is going to Harvard Law School did
not get a single dollar to go, and another one
that's actually going to do med school at Emory in Atlanta.
And these unbelievably smart kids because they had unbelievably smart parents.
Because he's the grandfather. And here's what he said, he goes.
I felt so good that even though I lived the
way I did, I was able if they needed it,
if they didn't need it, it's fine to write a
(07:43):
check for every one of them for them to go
to those schools. Now, are they going to have thirty
million dollars when I'm gone? No, But I'm doing my
giving while I'm living where I feel like it will
make the biggest difference for not only his immediate family,
but for the entire lineage of his family. And I
thought to myself that that is unbelievable, and you'd be surprised.
(08:05):
It did not cost nearly as much money as you think.
It just took careful planning, and it actually took a
lot of understanding on the things that he still could
do and the things that he wouldn't be giving up from.
But he's not going to see all those dollars accumulating, accumulating,
accumulating account because guys, if you think about it, that's
pretty worthless. Instead of just having all that extra accumulation
(08:26):
if you had the exact same amount, but you helped
out fifty families in need, just your own family in need.
You did the things that you wanted to do. Or
let's just be self serving for a minute. You just
decided that you wanted to take all the kids and
grandkids on Disney cruises every year for the holidays because
you enjoy it, because it's fun for you. Or you
want to rent a lake house in a gorgeous part
(08:46):
of the country, not just around the corner, for three
whole months because you don't know when each of your
kids and grandkids can get out of school, get off
of work, take the top, so you're there so whenever
they come to visit you, you have that opportunity to
show that with them. Now, you don't want to buy
the place because you don't want the maintenance, the upkeep,
the property taxes, the headache, the hassle. But those are
(09:06):
things that I think are very unique and those are
the things that we want to encourage people to think about.
There was a couple that just came in and he
had been a physician for his entire life, and he
had done very, very, very well, and we had this conversation.
I'm like, listen, guys, there's no question that you're going
to have a great retirement. I mean, that's part's fine.
What are the dreams? What are the thoughts when you
(09:27):
first got married? What are the things? I was like,
you're not going to know these today, but we'll get
back together at the very beginning of the year, and
I really want you to have some thought about this.
What are the things that you promised each other in
the very beginning? Did you do them? Because now you're
going to get the opportunity. He's starting to wind it down.
They have ample amounts of money, they have the house
they want, their kids are completely set. They're all very successful,
(09:48):
and it's kind of like, what are the things that
you want to do. And here's the amazing thing. He said,
I would like to maybe do doctors without porters, you know,
I would let maybe to do those type maybe you know,
fix some cleft, you know, powers and things like that.
But I know that it's going to not just be
for a week, it'd be for a period of time.
I'm like and and his wife was just like, that's
a great idea.
Speaker 5 (10:08):
I'd love to do that.
Speaker 3 (10:08):
We could see parts of the country the world we've
never seen before. And that started to stimulate that. And
I was like, Hey, you don't have to tell me
anything today, but go back, go have lunch after this,
go talk about that, think about some of those things,
because you can create a legacy, and not only that,
you can maybe create true philanthropy or true charitable giving.
And you don't have to just give money, guys, you
(10:30):
can give time, your skill set. I can't tell you
how many unbelievable craftsmen there are out there, and just
in the regional area, whether you know plumbing or hvac
or do you know how many people need those services?
So you know, I know that, you know, it's one
thing you can go out there and hang out a
shingle and make some more money. But sometimes just people
in your own church just really they got a gutter issue, yeah, right,
(10:53):
plumbing issue is and that they really can't afford it.
Those are things that I want people to think about
we can be productive members of the society without having
to make money. The question is how do we want
to do it. So it's very interesting because I saw
that Bernie Marcus was going to give away ninety percent
of his money. So if he's worth ten billion, he
basically said, I'm going to give away nine billion because
(11:14):
my kids are fine. And see, like he said, I've
got all the other stuff, like they're gonna have a
billion dollars, you know, amongst them. He said, but you know,
I'm gonna give it away. And here's an interesting thing
I saw about it. The charities he's giving it to.
They're not allowed to just put it in a foundation
and let it grow through the roof. They have to
basically spend it all in the next twenty years. I
(11:34):
love that because that means that he's not just turning
a nine billion into forty billion and then the interest
off that he's not doing that.
Speaker 4 (11:40):
He said, no, he wants you to do purpose. He
wants it to go.
Speaker 2 (11:44):
Yeah.
Speaker 3 (11:44):
I love that because I'm going to start using those
concepts in my own office for my own clients because
it's so important. Where can you make an impact today
that you wish was there when you were young, or
you look around and you see the issue today. Look
at some of those things, I think it's great. So
when anyone is chairly inclined, it's wonderful. Yeah, but believe it,
you do not have to be charitably inclined to have
(12:04):
a servant's heart into want to give back. Those are
the things that you want to be thinking. It's not
just money to grow, it's money to use productively for
whatever those purposes you want to use it for. Think
about that today and think about if your current plan
accommodates for that. If it doesn't, maybe give us a
call and then get a second opinion.
Speaker 2 (12:21):
Putting your money to work for you, for your family,
for other people in your community, within charities and churches
that you know and love and participating in. This is
how you can take that money that you've worked so
hard to turn and save and make it continue to
work for you, as I was saying, for you and
so many people in so many different ways, through the
(12:43):
proper planning process, which is what John and his team
are here to help you figure out. So get to
our website, Retirement Solutions show dot com. That's where you
can begin the conversation figuring out your own legacy plans,
doing your given while you're living. It's not even after
you've left the planet. It's such an important conversation to have.
We also have links posted in the show as organ
It's Retirement Solutions Show dot com.
Speaker 1 (13:04):
Thanks for listening to The Retirement Solution Podcast with John Hicks.
Begin the conversation about your savings plan with John and
the team at Jayhagen Capital by visiting Retirement Solution Radio
dot com. Be sure to listen to John's radio show,
The Retirement Solution Saturdays at eight am and Sundays at
nine am on NewsRadio eight forty whas.
Speaker 5 (13:26):
Jhagen Capital Incorporated is not licensed in all fifty states.
To find out if Jahiggan Capital Incorporated is licensed in
your state, please call five zero two six nine oh
fifty six thirty five. J Higan Capital, Incorporated is not
affiliated with, nor endorsed by the Social Security Administration or
any other government agency, and does not provide legal or
tax advice. By contacting us, you may be provided with
information about insurance and annuity products offered through Jjgincapital LLCNPN
(13:47):
number one eight eight two seven zero nine four
Popular Podcasts
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Intentionally Disturbing
Join me on this podcast as I navigate the murky waters of human behavior, current events, and personal anecdotes through in-depth interviews with incredible people—all served with a generous helping of sarcasm and satire. After years as a forensic and clinical psychologist, I offer a unique interview style and a low tolerance for bullshit, quickly steering conversations toward depth and darkness. I honor the seriousness while also appreciating wit. I’m your guide through the twisted labyrinth of the human psyche, armed with dark humor and biting wit.