November 2, 2023 • 33 mins
Abe founded Abich Financial Services in 2008 and has nearly two decades of experience in financial services. He is a seasoned retirement income planning professional, a Certified Financial Fiduciary®, hosts the D.C. Metro Area Radio show, “Retirement Key Radio” on 105.9 WMAL, and hosts the television show “Retirement Key TV” on WUSA 9 and ABC7 WJLA.
Abe has helped close to 1,000 individuals and families prepare for their financial futures and his experience has authored articles that can be seen in Forbes and Fortune, as well as served as a member of the Forbes Financial Council.
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Episode Transcript
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(00:05):
Good evening, Welcome to WSBI,your Resource for Success podcast program where you
get to meet inspiring women owned businessesfrom across the country. And now for
your host, Kimberly mcklemore. AllRight, good evening and welcome to ws
(00:40):
that's BSBI, your Resource for Successpodcast program where you get to meet inspiring
entrepreneurs and women owned businesses from acrossthe country. I am your host,
Kimberly McLamore, CEO and founder ofthe Women's Small Business Initiative LLC and award
winning author. Welcome to another nightof sharing with us. We have special
guests. Abe A. Bish Abefounded Abish Financial Services in two thousand and
(01:02):
eight and has nearly two decades ofexperience in financial services. He has a
season retirement income planning professional. Hecertified financial fiduciary, hosts the DC Metro
area radio show Retirement Key Radio onone O five point nine WMAL and host
the television show Retirement KEYTV on WUSAnine and ABC seven WJLA. Abe has
(01:26):
helped close to a thousand individuals andfamilies prepare for their financial futures, and
his experience has offered articles that canbe seen in Forbes and fortune, as
well as served as a member ofthe Forbes Financial Council. So without further
ado, please help me. Welcometo my platform. Abe, abitsh Hey,
Abe, how are you. Hey, Kim. I'm doing fantastic.
I'm excited to be on this podcastwith you. Well, I'm excited to
(01:49):
have you. I've known you fora long time, so we have some
history. I'm one of your clients. That makes it even better. Yeah,
we go way back, we do, we do remember you know,
of course, you know we haveto give a shout out to see me,
right because she was the person whointroduced me to you, and that
has been many, many years ago. Yeah, or yes, I remember,
(02:09):
Yeah, I do remember that.Yeah, and Seeing are very close
friends and she is still my relativeto this day. So excellent, and
it has been a great you know, here we come full circle now.
You know, I never thought Iwould be enjoying and doing a podcast.
You have your own radio shows,and you've had a lot going on since
we've first met, and so I'mreally excited to have this conversation with you.
(02:34):
But before we start diving into thequestions and talking to some of the
serious stuff, why don't you tellmy listeners a little bit more about who
AIB is. Sure, Yeah,Kim, my wife Shelley, and I.
We live in Leesburg, Virginia,and I've been in the retirement planning
world and industry for now twenty years. And you know why I help people
(02:57):
every day stems from my past andhow I grew up. And I don't
know if you knew this, butI grew up in a strong Christian family
home and always had a roof overour heads, but always grew up with
very little financial needs. And I'lluse my father as an example, two
master's degrees part of a PhD programdone kind of grew up in an old
school family where he controlled the finances, and my mom was there but probably
(03:22):
had very little say, and somebad decisions were made, and she relied
heavily on my father for that.So there was this book education, but
no education on finances, on investing, on saving for their futures. And
so twenty years ago, when Istarted helping people with their retirements, I
realized what my brother and I wentthrough, and I set my own personal
(03:45):
mission out to be to help asmany people that I personally could retire with
dignity and confidence and average financial servicesour company. We do that here as
well. We help people retire withdignity and confidence by providing good financial education.
Once you have that good financial education, you should be able to make
sound financial decisions about your future.So that's a little bit more about myself
(04:08):
and why I do what I do. Yep. Yeah, And it's it's,
like you said, kind of thetypical interesting story where it's amazing how
like you said, we can haveso many people who are very educated,
and we've all kind of gone throughthat process where you can be extremely educated
but never educated enough on understanding yourretirement and why it's important to have it.
And I think a big part ofwhys we all know is usually fear.
(04:29):
Fear of the unknown and somebody controllingthe money, and you know,
how can you trust that person?And I think those are the huge factors
that you know, people go throughevery day trying to make these decisions because
I know I have, you know, even though I'm still I'm very comfortable
with you, but you know,we still everybody has those ups and downs
of realizing that the market is goin this direction, of marks go in
(04:51):
that direction, and how do you, you know, keep that control and
how do you feel that that trustis still there? And I think that's
a big part of why people aresaying, Nope, I still don't want
to do this. And do youstill I guess have people who come to
you who still have that old mentalityif I'm gonna keep the money underneath the
mattress mentality, Yeah, it's Iwould say it can be very daunting,
(05:13):
Kim. You know sometimes I canI you know, compare it to maybe
go into a dentist or a doctor, and you know, I'll speak for
the men. You know, that'snot something that men typically enjoy, but
women realize the importance and uh andyou know, typically go regularly where men
may skip a few years, youknow, with those checkups. But nevertheless,
(05:38):
sometimes it is daunting to go tothe dentist or doctor. But at
the end of the day you go, you feel better up about yourself.
If something's wrong, you get somemedicine for it. You find out what's
wrong and try to get it fixed. Same thing with a financial and a
retirement plan. It can be reallydaunting to get in there and sit down
with somebody that's a fiduciary financial advisorretirement planner because maybe there's a lot that
(05:59):
you don't know about your own financesand all the options out there. But
there's a lot of noise right nowin the world and there always will be.
And so what we encourage our clientsto do can is focus in on
what they can control. One ofthose big things is their own personal financial
and retirement plan. Control what youcan right, control how much risk you
take, control when you pay taxes, making sure you have enough insurance,
(06:24):
making sure you're saving enough, anddoing everything possible in your own power inside
your own home to be prepared forretirement. So that's what we encourage,
and that's the key in encouraging thatcontrol. And like you said, I
think that's that's been the biggest issuethat I've heard and see people talk about,
is they just don't want somebody tocontrol the environment, but not understanding
(06:45):
that how important is that you know, things change too quickly to try to
always do everything on your own.So to have somebody that you can depend
on, I think is that that'sa more comfort zone for me. And
being that, you know, whenyou're a business professional, you know one
thing I don't want to have toworry about is that part I know it's
being taken care of. You know, it's like, here's the money,
(07:06):
do what you need to do,you know what I mean. So I
think that's right, you know,kind of an important factor, you know,
for people to start to think about. And it's never too soon,
in my opinion, to start dealingwith your retirement income. Why don't you
explain them for you? Why it'sbetter to start sooner than later, oh
(07:29):
man, because we have the time, right So you know, if you're
listening right now and you're in yourforties and fifties, you have more time
than a sixty five year old,right, So the more time that you
have in front of you, thebetter, because with time comes tax deferral
and compounding and all of that growthof all of those dollars that you're able
to put away. It is significant. So you're it's never too early to
(07:54):
start. I would also encourage thoseof you listening that may be a little
bit older, perhaps your sixty sixtyfive, even it's not too late either.
And also, you know, we'reall of a pretty volatile stock market
period. You don't have to panic, you don't have to be paralyzed by
fear. There are options there,There is a lot you can still do
(08:16):
even if you're down fifteen to twentypercent this year, by having a plan,
by being more financially educated about allof your options. Those are some
things that we can control in termsof retirement income. Kim, you want
a roadmap, right, If you'regoing to a new destination out of state,
in state, new restaurant, whathave you, You're probably gonna throw
it in GPS, right because youdon't want to waste your time to get
(08:37):
lost. You know us men,we may try to figure it out and
just yeah, I know what thatis, and you know you're enough for
a long right now. Women aresmarter, they're going to put that in
the GPS and not waste time.We need GPS for our retirement as well.
We need a roadmap for our retirementwhere we have where we can see
what all of our income looks like. Well, we're factoring in our insurances,
(08:58):
our investments, taxes. Health Careextremely important for women, especially women
outlet men on average by several years, and the older and older we get,
the higher the chance there is fora need of some type of health
care, whether that be in yourhome, adult daycare facility, or nursing
home. And so that's a hugeconcern for women, is healthcare down the
(09:22):
road, a healthcare long term careevent, and outliving the money that they've
saved because they typically live three orfour years longer than the average mail.
Wow, that's interesting. I neverknew those statistics were still very consistent,
you know, in this day andage, because everybody seems to be living
longer. I even noticed that asi'm you know, and now in my
(09:43):
mid fifties. I can remember whenI turned fifty, you know, the
big thing was ooh, gotta getmy ARP. Right. As soon as
I get the ARP, they changedthe age bracket, which was like now,
I was like, really exactly,yeah, exactly. So it's just
I don't really think about it atthe time because you know at the time
that being fifty is almost like,oh, I'm embarrassed to be fifty.
(10:05):
But now it is the thing that, you know, being fifty and older.
It is the consistency that's that we'reliving longer, we're healthier, and
we're doing things differently. So,you know, as we're focusing tonight a
little bit on our conversation about women, you know, I don't a lot
of times here in the circles ofpeople around. Even though we're all professionals,
we don't really sit down and talkabout how important the planning phase is
(10:28):
for women. And you just mentioneda few other things that are important that
we should with women living longer.But talk about a little bit of some
of the ideas that you convey andput out to women, because I know
you have some really great programs andyou have other events that are truly strictly
for women to come and listen to. I'll tell you, Kim, the
five top things that women that wefind that women are concerned with as they
(10:54):
approach retirement, get closer to retirement. I'm talking you know, women that
are maybe five to ten years awayfrom retirement or maybe already there. Number
one, in no particular order,social security. We've got to get that
decision right that we worked our entirelives, we earned, we have earned
and deserved this benefit when we retire, and we've got to get the decision
(11:16):
right. So maximizing social security andchoosing the best age for you is really
important and really important to most womento get that decision right. So what
you don't want to do, Kim, is follow generic mass advice and you
know, hear someone on the radiosay, oh, just you know,
every female should take Social Security atseventy. That might be right for you,
(11:39):
it may not be right for youas well. So you want to
have you know, a special SocialSecurity optimization or maximization report ran for you
to help you determine when it isbest for you to take it. Because
your needs are different than mine,your needs are different than your neighbors,
and everyone has or should have aplan that's custom to them. Number two
(12:01):
taxes. So it's one thing tohave enough money saved for retirement. But
I think one of the biggest mythsof retirement planning is that when we retire,
we're going to be in a lowertax bracket, right because maybe we're
incomes in retirement. But in theDC metro area especially, that is not
(12:22):
true for a lot of people.If you have a pension, solid security
check and then you've done a goodjob and you've saved you know, let's
just say half a million million dollarsor more, you could have more income
in retirement than you did when youwere working. And then if you've stopped
working and you're not maxing out yourfour owe K and maybe your house is
(12:43):
paid off, or maybe your hopefullyyour kids are out of the home by
the time you retire, and thenCongress changes and the tax code changes,
and the tax rates and brackets goup. We could be looking at a
ticking tax time bomb. We couldbe looking at taxes going up and impacting
our retirement dollars, all the dollarswe just worked the last forty years to
save. So women are concerned makingthe right social security decisions, they're also
(13:09):
concerned with taxes and how to lowerand mitigate taxes on their retirement life savings.
Healthcare a huge concern. We justtalked about that a minute ago.
Women outlived men by three or fouryears on average. Give you my grandmother
as a good example. On mydad's side, my grandmother lived to be
ninety six, and my dad's sideis Lebanese and Cuban, and so they
(13:31):
live long, and she lived tobe ninety six. But from ninety years
old to ninety six, she startedslowing down. And she went from the
top floor of the house where allthe bedrooms were, down to the middle
floor, so they had to bringher down. She couldn't climb the stairs
anymore down to the middle and thena hospital style bed instead of her own
(13:54):
bed, and then a super parttime nurse to a full time nurse,
from one full time nurse to twofull time nurses, and then in and
out of the hospital from ninety toninety six, and then eventually at ninety
six she passed and she would belike the matriarch of the family, and
she made all the food, andshe was she ran that house, in
that home, but from ninety toninety six, six years she needed part
(14:18):
time and full time care in herown home and then in and out of
facilities. And had my family nothad the resources, had she not had
insurance to help pay for those expenses, that is a risk, a cost
that can really drain and deplete ourassets in retirement. So we want to
have a healthcare plan or a planfor us needing long term care assistance down
(14:43):
the road in retirement. Fourth,we need a retirement income plan. I
just mentioned that before as well.We need a roadmap a GPS for our
reviirement. Where are we headed?Do we have enough saved or do we
need to save more? And thenof all the money that we do have
saved, where is it is itin a pretext account? Roth accounts,
(15:03):
is it in real estate, isit in crypto? Hopefully not too much
in crypto right now, way themarket cryptos. But nonetheless, we need
a roadmap, We need a planto see where all of these resources are
and is it enough or do weneed to save more before we actually fully
retire? And then once we haveretired, let's say we're sixty five or
fully retired, you might live toninety ninety five years old, another twenty
(15:28):
five to thirty years, and isthe money you have saved enough adjusted for
inflation to last you as long asyou live. Finally, with all that
said, we don't want to takeon any extra risk or market risk than
necessary. Everyone knows you shouldn't haveall your eggs in one basket, so
we want proper allocation. Diversification ofour investments is really important. The closer
(15:54):
and closer you get to retirement.Typically the rule of thumb is when you're
young, hey and be very aggressive, you know, try to save and
accumulate as much as you can.And then closer and closer to retirement,
the more conservative we should become becauseour working paychecks will stop, and then
we have to start thinking about generatingpaychecks from our portfolio and everything we've done
(16:15):
to save for retirement. So thoseare the five things here at average financial
that we hear from our female clientsthat are of a top concern to them
and top concern to women in generalapproaching retirement. Right. So, and
that's excellent because that's very good informationbecause I know that women are definitely thinking
(16:37):
that same thing. You know,living longer is vieusually the number one thing.
But I think what I'm hearing alot more today with when it comes
to people wanting to retire, isthat a lot of people don't want to
retire because they feel good, youknow, they want to continue to work.
So how do you work those typeof situations where they got one foot
in the door one foot out thedoor. Yeah, that's not necessarily a
bad thing. Matter of fact,A lot of our clients and a lot
(17:00):
a lot of retirees, I think, do that. You know, whether
you're retiring in your sixties, latefifties, early seventies, A lot of
people don't want to stop. Theywant to stay active. Typically most people
don't need to continue working, buta lot of people want to continue working
to some degree. A mentally sharp, physically sharp maybe not to drive your
(17:21):
spouse crazy either inside the house,I need to get out of the house
altherwise I'm gonna drive my wife crazy. You know. So a combination of
things are reasons why a lot ofpeople will not stop cold turkey from full
time to no working income at all, but they'll stip typically go from you
(17:41):
know, maybe both spouses working ifyou're married to one spouse, and then
maybe from that one spouse finishing offfrom full time to part time, and
then of gradual retirement is what wesee most often just because hey, you
got to keep yourself busy. Peoplewant to stay sharp and active, get
out of the house, and feellike they have still have purpose. So
(18:03):
if you are fully going to fullyretire, what I encourage any of our
listeners to do is to have alifestyle plan for your retirement, just as
important as having a retirement plan itself. What are you going to do in
retirement? What's going to occupy yourtime? How are you going to keep
yourself busy? What are the thingsthat you love to do? What fills
(18:23):
your life with purpose? Is itvolunteering at a church, is it volunteering
at a nonprofit? Is it traveling? You have some type of hobby that
you love to do that's going toyou know, that's going to keep you
happy in retirement, spending time withthe grand kids, whatever it is.
You want to have a plan forthat. And what we find, Kim,
(18:45):
is that a lot of our clientsare more busy in retirement, which
is a good thing because they haveall this time now and there are plenty
of all the time. So Ithink that's really important is continue to dream.
Continue to dream as you transition intoretirement. This is the next third
third of your life, the nextthird part of your life, you know,
(19:06):
the next twenty five thirty years.So it's important that I think we
continue to do the things we love. So it's going to keep us happy,
exactly. And I'm seeing more andmore women or women specifically, but
ment to but you know, theycome out of their work, they retire,
and then they open a business.So how do you you know,
get them to kind of balance thatbecause I think that's important to know that
(19:27):
they have an income then when theyare ready to go. But then here
we go, we got some morenew income coming through the door, even
more possibly than when it was whenthey were actually working. You know,
I think what a great retirement lookslike. I think what a successful retirement
looks like, Kim and my eyesis whatever you want to do in retirement,
(19:51):
if that's opening up a new business, if that's just you know,
you know, moving out of theDC metro area, and you know,
downsizing living at the beach, whetherit's spending all your time with the grandkids,
whether it's volunteering a lot of yourtime. Whatever it is that makes
you the most happy, that makesyou the most fulfilled. If you can
do that without worrying about money,without worrying about your income, without worrying
(20:15):
about the stock markets, then Ithink that's a successful retirement. You know,
one of our recent clients that justjoined our firm in twenty twenty two.
Before he joined, he said,he said, a I look forward
to Fridays at four o'clock when thestock markets are closed because I don't have
to worry about my portfolio. Andthis gentleman and his wife came on board
(20:37):
our company this year because that isnot a way to live. No,
exactly, if you can go aboutand you can do everything you've ever wanted
or dreamed of in retirement without worryingabout your income and where it's coming from,
and without warrying your about your portfoliosand the markets. In my opinion
as a retirement planner, that isan extreme success. Exactly. Yeah,
(21:00):
that's what I would say. Ifit's if it's opening up a new business,
if it's spending time with your familyand grandkids. A lot of people
want to travel the world because theywere working their entire careers, and so
whatever that is, write it down, put together a plan for all the
time. How are you going tospend your time in this, in this
phase two, in this, inthis you know, second part of your
(21:23):
life right now? You mentioned thatsocial security obviously is very important for people
to want to get it. Iknow people kind of go back and forth
between Okay, should I get itat you know, age sixty two or
sixty five and know that they movedit up to seventy, So what happens?
Yeah, or do you see inthe future that there may not be
so security available? So yeah,you know, I'm sorry, Yeah,
(21:45):
great question, Great question, Kim. Yeah, there is there is some
talk about maybe social security not beingaround one in its entire form. I
think both sides of Congress, allsides of government have made this promise to
Americas. I personally believe it willbe there now. Benefits may be maybe
(22:08):
cut, maybe discounted, and maybelowered in the future, maybe full retirement
is pushed back from currently sixty seventhen maybe seventy seventy two to seventy five.
But this is one decision that wewant to get right, and so
I would encourage. And this isfree. You know, there is no
financial advisor or retirement planner that sellsSocial Security, but they should be helping
(22:33):
you to plan for it because it'sprobably going to be several thousand dollars a
month, and it's a decision wewant to get right. So typically,
you know, it really does dependon when it is best to take it
for you. You know, ifyou are working through your sixties and you
don't need the income, you mightwant to defer and delay it to let
(22:56):
that benefit grow. Right, andfrom full retirement age to seventy it does
grow by a guaranteed compounded eight percentper year every year. We don't touch
it from full retirement age to seventyHowever, if you do wait till seventy
as a female, you better livelong and you probably will as a female
is till seventy to take social security, you better live to your mid to
(23:18):
late eighties, and you very wellcould. And the reason for that is
is because if we wait, wewant to make sure that it was worth
the wait, that by weight,we would have received more money by taking
it at seventy versus taking it atsixty seven or sixty two. However,
if you wait untill seventy and thenyou pass away at seventy two or seventy
(23:40):
five or eighty, it would havedefinitely been better to take benefits at maybe
sixty five, sixty seven, oreven sixty two. So the general of
thumb is if you take benefits earlyand you die before maybe age eighty two,
it would have been best to takethe early. If you wait till
four retirement age sixty five to sixtyseven and you live half stage eighty two,
(24:00):
you would win by waiting a fewyears. And if you wait till
seventy, you better live to abouteighty five and beyond and make it worth
waiting. The big question is,or the big thing is, none of
us know when we're going to passaway exactly, and if we did,
we could get the decision correct onehundred percent of the time. So you
want to look at your current situationfigure out do you really need it?
(24:22):
Can you defer and delay it andlet it grow. If we have your
birth date and we know about yourentire financial situation, what's going on,
put that into our social security planningsoftware to help you determine what it is
best for you. All right,Wow, Yeah, that's that was interesting
because I know that's been a hugetopic and there's always the back and forth
(24:44):
when people conversated about social security thatyou know, it's like, well,
why let the money to sit inthere where you can get it at an
earlier age, because we don't know, you know, at the same time,
we don't even though it can continueto build. But you know,
for some people they need it nowbecause that they do live off that that's
important for them as a part oftheir retirement. And you know, with
all the things that you laid out, those five items that you laid out,
(25:06):
it's very important for anybody, whetheryou're a woman or not, to
really understand your structure. But thebiggest thing that I've seen with people just
in every day doing business with themis that they don't pay attention to their
where their income they got the incomecoming in, but they don't know how
much is going out. And thatis so crucial in anything that we do
is understanding the basics. When weput together a retirement income plan KIM,
(25:29):
a retirement roadmap, yes for yourretirement, the first thing we need from
anybody is what are you spending?What are your expenses? And you know,
it needs to be as tight andas close to what you are spending
as possible. Because if we puttogether a retirement income plan for you and
you tell us you're spending five thousand, but you're really spending eight or ten,
(25:52):
you know and only you truly knowexactly what you're spending. We want
to be honest with that number becausewe build or a you sure, a
retirement planner will build an entire planaround what you are spending monthly and what
you need account net every month aftertext, So you really, if you
don't have a budget and you don'thave a good grasp on what you are
(26:15):
spending, you really want to gothrough that. I think that'd be a
great exercise. Figure out what youare spending, look at your credit card
statements, your mortgage, your rent, all your bills, add it up
and more than likely that's what you'llcontinue to need into retirement. Then build
a plan around that to make sureyour income's covering all the senses and hopefully
you have a surplus. You havemore than you need coming in right exactly.
(26:37):
Wow, I'm really enjoying this conversation. I could just keep talking and
talking about I think this is important, you know, And even though I
know we're talking a lot about youknow, to start now, you know,
looking at twenty twenty three coming aroundthe corner, and you know,
want people to understand how important itis to not look at resolutions but do
something, Do something that's going tobenefit you, you know, start out
(27:00):
fresh, make sure you understand whatdirection you're going through in life. And
a lot of times, like Isaid, these conversations just aren't something that
people sit down and want to talkabout. You know. They're worried about
little steps and little goals, whichis perfectly fine. But this is a
goal that's considered permanent, you know, And I think it's so important that
these conversations need to be talked aboutevery day. And I love, like
I said, what you're doing.You've been around for a long time and
(27:22):
I've seen you grow throughout these yearsand you know you're just doing phenomenal stuff.
But the key is is just gettingthose right people to focus on the
things that they need to really focuson. Kem, You're exactly right.
I would just encourage anyone listening rightnow, do you just take action,
be proactive, put one foot infront of the other, and just start
(27:44):
exploring the idea, putting together aplan. Right, Like we said,
there's a lot in this world youcannot control, but one thing you can
control is your own personal financial planand retirement plan. And there's a lot
in those, right, But juststart put one foot in front of the
other. Sit down with somebody thatis a fiduciary retirement planner that really has
(28:08):
your best interest first, that washeld by the highest standards in the industry
to give advice that's in your bestinterest. It was a specialist and can
help you that way, you don'thave to worry about you know, Can
I trust this person. They're legallyheld to give you advice, advice that's
in your best interest. Just takeone just put one foot forward right and
take action, and you'll be gladyou did, really be glad you did.
(28:33):
You're right you're absolutely right. LikeI said, it's we all know
it's scary because it's like the unknown. But at the end of the day,
when you have somebody that can guideyou properly and Abe, I know
you are definitely the right person.You've been guiding me for years. As
a matter of fact, I waswhen you said that you know when most
people started in their forties. I'mlike, yeah, I was in my
forties when I met That's exactly whenI started. So yeah, it's it's
(28:53):
very important that you know, likeyou say, you have that guidance,
and it's not about you people havingto feel like they have to have the
answers. That is what you guysare there for to help, you know,
ensure that people that are going inthe right path. So for those
who are truly interested, you know, this is the time. The time
is now. It's not about waitinguntil it's too late. It's about taking
(29:14):
those little baby steps. But thosebaby steps are going to be well worth
it in the long run. Soa before we leave and stop those conversations,
great conversation, why don't you tellthe listeners how they can reach out
to you if they're interested in youknow, getting your services, and then
of course talk about for a coupleof seconds your own radio so that you
have sure yeah, you know,any listener right now can just go to
(29:37):
retirement keyradio dot com Retirement keyradio dotcom just click on the contact us tab
at the top of the page andjust entering your information and that you'd like
a complimentary we call it a wheredo I Stand plan. It's essentially a
complimentary second opinion on what you're doing. And if you could also put in
that you found out about us throughKIM, I'd be fantastic. So we're
(30:00):
aware. So that's how someone canreach us retirement keyradio dot com. And
then our podcast is actually called RetirementRetirement Key Radio and you can find it
via Google Play, Spotify and iTunesif you just search for Retirement Key Radio
(30:21):
or my name abe A b eavish Abas and boy h. All right,
well again, I thank you fortaking the time out of your busy
schedule to spend with me this evening. Thank you, Thank you, Ken.
It's my pleasure and again I'm lookingforward to seeing you in the new
year. And so, like Isaid, for everybody else, please take
(30:42):
the time to think about your futureand get on board with this. And
Abe, you also, like Isaid, happy at this point, we're
gonna be saying Happy New Year.So so again, like I said,
thank you so much for your time, and then we'll give very welcome the
pleasure, the pleasure. Thanks forhaving me on. You're welcome, Abe,
have a good all right, thankyou, And so for everybody else,
(31:03):
I just want to remind you aboutthis great conversation that we just finished
having in reference to taking care ofyour future. You have control over your
future and the future is now.So for those who are interested, like
Abe said, in wanting to gettheir retirement planning in order, again,
you can reach out to him atretirementkeyradio dot com. Fill out the contact
(31:27):
information, make sure that you saythat you heard this on my podcast show.
And again, if you of thosewho can't remember my full name,
it's Kimberly macklamore. And as youknow, we're on your Resource for Success
podcast. Mention that those two thingsand Abe can get you hooked up and
get you taken care of because thisis what you need to have to prepare
for your future. And so again, like I said, I hope you
(31:49):
all enjoyed this evening show and theimportance of preparing. If you're not prepared,
as we said, it's time tohave the conversation. If you want
to reach out to me directly toget you connected to ABE, you can
reach me at Kimberly at WSBI LCat gmail dot com. Let's chat about
how to take those steps so youcan turn your dreams into into goals.
(32:09):
Also, if you want more ofyour resource for success, we do take
monetary donations to support the podcast,and you can send those through cash app,
PayPal, Goodpods, tip Jar,or you can go directly to the
website at wwwwsb I LC dot com. Again, thank you, we'd like
to say thank you for listening tous tonight. We'll be back next week
(32:30):
with more amazing guests. Be sureto follow us on iHeartRadio or wherever you
listen to your podcast. But untilthen, enjoy the rest of your evening
and good night, good night everyone. We will be back next Thursday evening
at seven pm. Follow us onspreaker www dot spreaker dot com, slash
user slash WSB I view are newWSBI website anytime at www dot ws b
(32:58):
I l LC dot com and onFacebook, Twitter, YouTube, LinkedIn and
Instagram. M m HM
Good evening, Welcome to WSBI,your Resource for Success podcast program where you
get to meet inspiring women owned businessesfrom across the country. And now for
your host, Kimberly mcklemore. AllRight, good evening and welcome to ws
(00:40):
that's BSBI, your Resource for Successpodcast program where you get to meet inspiring
entrepreneurs and women owned businesses from acrossthe country. I am your host,
Kimberly McLamore, CEO and founder ofthe Women's Small Business Initiative LLC and award
winning author. Welcome to another nightof sharing with us. We have special
guests. Abe A. Bish Abefounded Abish Financial Services in two thousand and
(01:02):
eight and has nearly two decades ofexperience in financial services. He has a
season retirement income planning professional. Hecertified financial fiduciary, hosts the DC Metro
area radio show Retirement Key Radio onone O five point nine WMAL and host
the television show Retirement KEYTV on WUSAnine and ABC seven WJLA. Abe has
(01:26):
helped close to a thousand individuals andfamilies prepare for their financial futures, and
his experience has offered articles that canbe seen in Forbes and fortune, as
well as served as a member ofthe Forbes Financial Council. So without further
ado, please help me. Welcometo my platform. Abe, abitsh Hey,
Abe, how are you. Hey, Kim. I'm doing fantastic.
I'm excited to be on this podcastwith you. Well, I'm excited to
(01:49):
have you. I've known you fora long time, so we have some
history. I'm one of your clients. That makes it even better. Yeah,
we go way back, we do, we do remember you know,
of course, you know we haveto give a shout out to see me,
right because she was the person whointroduced me to you, and that
has been many, many years ago. Yeah, or yes, I remember,
(02:09):
Yeah, I do remember that.Yeah, and Seeing are very close
friends and she is still my relativeto this day. So excellent, and
it has been a great you know, here we come full circle now.
You know, I never thought Iwould be enjoying and doing a podcast.
You have your own radio shows,and you've had a lot going on since
we've first met, and so I'mreally excited to have this conversation with you.
(02:34):
But before we start diving into thequestions and talking to some of the
serious stuff, why don't you tellmy listeners a little bit more about who
AIB is. Sure, Yeah,Kim, my wife Shelley, and I.
We live in Leesburg, Virginia,and I've been in the retirement planning
world and industry for now twenty years. And you know why I help people
(02:57):
every day stems from my past andhow I grew up. And I don't
know if you knew this, butI grew up in a strong Christian family
home and always had a roof overour heads, but always grew up with
very little financial needs. And I'lluse my father as an example, two
master's degrees part of a PhD programdone kind of grew up in an old
school family where he controlled the finances, and my mom was there but probably
(03:22):
had very little say, and somebad decisions were made, and she relied
heavily on my father for that.So there was this book education, but
no education on finances, on investing, on saving for their futures. And
so twenty years ago, when Istarted helping people with their retirements, I
realized what my brother and I wentthrough, and I set my own personal
(03:45):
mission out to be to help asmany people that I personally could retire with
dignity and confidence and average financial servicesour company. We do that here as
well. We help people retire withdignity and confidence by providing good financial education.
Once you have that good financial education, you should be able to make
sound financial decisions about your future.So that's a little bit more about myself
(04:08):
and why I do what I do. Yep. Yeah, And it's it's,
like you said, kind of thetypical interesting story where it's amazing how
like you said, we can haveso many people who are very educated,
and we've all kind of gone throughthat process where you can be extremely educated
but never educated enough on understanding yourretirement and why it's important to have it.
And I think a big part ofwhys we all know is usually fear.
(04:29):
Fear of the unknown and somebody controllingthe money, and you know,
how can you trust that person?And I think those are the huge factors
that you know, people go throughevery day trying to make these decisions because
I know I have, you know, even though I'm still I'm very comfortable
with you, but you know,we still everybody has those ups and downs
of realizing that the market is goin this direction, of marks go in
(04:51):
that direction, and how do you, you know, keep that control and
how do you feel that that trustis still there? And I think that's
a big part of why people aresaying, Nope, I still don't want
to do this. And do youstill I guess have people who come to
you who still have that old mentalityif I'm gonna keep the money underneath the
mattress mentality, Yeah, it's Iwould say it can be very daunting,
(05:13):
Kim. You know sometimes I canI you know, compare it to maybe
go into a dentist or a doctor, and you know, I'll speak for
the men. You know, that'snot something that men typically enjoy, but
women realize the importance and uh andyou know, typically go regularly where men
may skip a few years, youknow, with those checkups. But nevertheless,
(05:38):
sometimes it is daunting to go tothe dentist or doctor. But at
the end of the day you go, you feel better up about yourself.
If something's wrong, you get somemedicine for it. You find out what's
wrong and try to get it fixed. Same thing with a financial and a
retirement plan. It can be reallydaunting to get in there and sit down
with somebody that's a fiduciary financial advisorretirement planner because maybe there's a lot that
(05:59):
you don't know about your own financesand all the options out there. But
there's a lot of noise right nowin the world and there always will be.
And so what we encourage our clientsto do can is focus in on
what they can control. One ofthose big things is their own personal financial
and retirement plan. Control what youcan right, control how much risk you
take, control when you pay taxes, making sure you have enough insurance,
(06:24):
making sure you're saving enough, anddoing everything possible in your own power inside
your own home to be prepared forretirement. So that's what we encourage,
and that's the key in encouraging thatcontrol. And like you said, I
think that's that's been the biggest issuethat I've heard and see people talk about,
is they just don't want somebody tocontrol the environment, but not understanding
(06:45):
that how important is that you know, things change too quickly to try to
always do everything on your own.So to have somebody that you can depend
on, I think is that that'sa more comfort zone for me. And
being that, you know, whenyou're a business professional, you know one
thing I don't want to have toworry about is that part I know it's
being taken care of. You know, it's like, here's the money,
(07:06):
do what you need to do,you know what I mean. So I
think that's right, you know,kind of an important factor, you know,
for people to start to think about. And it's never too soon,
in my opinion, to start dealingwith your retirement income. Why don't you
explain them for you? Why it'sbetter to start sooner than later, oh
(07:29):
man, because we have the time, right So you know, if you're
listening right now and you're in yourforties and fifties, you have more time
than a sixty five year old,right, So the more time that you
have in front of you, thebetter, because with time comes tax deferral
and compounding and all of that growthof all of those dollars that you're able
to put away. It is significant. So you're it's never too early to
(07:54):
start. I would also encourage thoseof you listening that may be a little
bit older, perhaps your sixty sixtyfive, even it's not too late either.
And also, you know, we'reall of a pretty volatile stock market
period. You don't have to panic, you don't have to be paralyzed by
fear. There are options there,There is a lot you can still do
(08:16):
even if you're down fifteen to twentypercent this year, by having a plan,
by being more financially educated about allof your options. Those are some
things that we can control in termsof retirement income. Kim, you want
a roadmap, right, If you'regoing to a new destination out of state,
in state, new restaurant, whathave you, You're probably gonna throw
it in GPS, right because youdon't want to waste your time to get
(08:37):
lost. You know us men,we may try to figure it out and
just yeah, I know what thatis, and you know you're enough for
a long right now. Women aresmarter, they're going to put that in
the GPS and not waste time.We need GPS for our retirement as well.
We need a roadmap for our retirementwhere we have where we can see
what all of our income looks like. Well, we're factoring in our insurances,
(08:58):
our investments, taxes. Health Careextremely important for women, especially women
outlet men on average by several years, and the older and older we get,
the higher the chance there is fora need of some type of health
care, whether that be in yourhome, adult daycare facility, or nursing
home. And so that's a hugeconcern for women, is healthcare down the
(09:22):
road, a healthcare long term careevent, and outliving the money that they've
saved because they typically live three orfour years longer than the average mail.
Wow, that's interesting. I neverknew those statistics were still very consistent,
you know, in this day andage, because everybody seems to be living
longer. I even noticed that asi'm you know, and now in my
(09:43):
mid fifties. I can remember whenI turned fifty, you know, the
big thing was ooh, gotta getmy ARP. Right. As soon as
I get the ARP, they changedthe age bracket, which was like now,
I was like, really exactly,yeah, exactly. So it's just
I don't really think about it atthe time because you know at the time
that being fifty is almost like,oh, I'm embarrassed to be fifty.
(10:05):
But now it is the thing that, you know, being fifty and older.
It is the consistency that's that we'reliving longer, we're healthier, and
we're doing things differently. So,you know, as we're focusing tonight a
little bit on our conversation about women, you know, I don't a lot
of times here in the circles ofpeople around. Even though we're all professionals,
we don't really sit down and talkabout how important the planning phase is
(10:28):
for women. And you just mentioneda few other things that are important that
we should with women living longer.But talk about a little bit of some
of the ideas that you convey andput out to women, because I know
you have some really great programs andyou have other events that are truly strictly
for women to come and listen to. I'll tell you, Kim, the
five top things that women that wefind that women are concerned with as they
(10:54):
approach retirement, get closer to retirement. I'm talking you know, women that
are maybe five to ten years awayfrom retirement or maybe already there. Number
one, in no particular order,social security. We've got to get that
decision right that we worked our entirelives, we earned, we have earned
and deserved this benefit when we retire, and we've got to get the decision
(11:16):
right. So maximizing social security andchoosing the best age for you is really
important and really important to most womento get that decision right. So what
you don't want to do, Kim, is follow generic mass advice and you
know, hear someone on the radiosay, oh, just you know,
every female should take Social Security atseventy. That might be right for you,
(11:39):
it may not be right for youas well. So you want to
have you know, a special SocialSecurity optimization or maximization report ran for you
to help you determine when it isbest for you to take it. Because
your needs are different than mine,your needs are different than your neighbors,
and everyone has or should have aplan that's custom to them. Number two
(12:01):
taxes. So it's one thing tohave enough money saved for retirement. But
I think one of the biggest mythsof retirement planning is that when we retire,
we're going to be in a lowertax bracket, right because maybe we're
incomes in retirement. But in theDC metro area especially, that is not
(12:22):
true for a lot of people.If you have a pension, solid security
check and then you've done a goodjob and you've saved you know, let's
just say half a million million dollarsor more, you could have more income
in retirement than you did when youwere working. And then if you've stopped
working and you're not maxing out yourfour owe K and maybe your house is
(12:43):
paid off, or maybe your hopefullyyour kids are out of the home by
the time you retire, and thenCongress changes and the tax code changes,
and the tax rates and brackets goup. We could be looking at a
ticking tax time bomb. We couldbe looking at taxes going up and impacting
our retirement dollars, all the dollarswe just worked the last forty years to
save. So women are concerned makingthe right social security decisions, they're also
(13:09):
concerned with taxes and how to lowerand mitigate taxes on their retirement life savings.
Healthcare a huge concern. We justtalked about that a minute ago.
Women outlived men by three or fouryears on average. Give you my grandmother
as a good example. On mydad's side, my grandmother lived to be
ninety six, and my dad's sideis Lebanese and Cuban, and so they
(13:31):
live long, and she lived tobe ninety six. But from ninety years
old to ninety six, she startedslowing down. And she went from the
top floor of the house where allthe bedrooms were, down to the middle
floor, so they had to bringher down. She couldn't climb the stairs
anymore down to the middle and thena hospital style bed instead of her own
(13:54):
bed, and then a super parttime nurse to a full time nurse,
from one full time nurse to twofull time nurses, and then in and
out of the hospital from ninety toninety six, and then eventually at ninety
six she passed and she would belike the matriarch of the family, and
she made all the food, andshe was she ran that house, in
that home, but from ninety toninety six, six years she needed part
(14:18):
time and full time care in herown home and then in and out of
facilities. And had my family nothad the resources, had she not had
insurance to help pay for those expenses, that is a risk, a cost
that can really drain and deplete ourassets in retirement. So we want to
have a healthcare plan or a planfor us needing long term care assistance down
(14:43):
the road in retirement. Fourth,we need a retirement income plan. I
just mentioned that before as well.We need a roadmap a GPS for our
reviirement. Where are we headed?Do we have enough saved or do we
need to save more? And thenof all the money that we do have
saved, where is it is itin a pretext account? Roth accounts,
(15:03):
is it in real estate, isit in crypto? Hopefully not too much
in crypto right now, way themarket cryptos. But nonetheless, we need
a roadmap, We need a planto see where all of these resources are
and is it enough or do weneed to save more before we actually fully
retire? And then once we haveretired, let's say we're sixty five or
fully retired, you might live toninety ninety five years old, another twenty
(15:28):
five to thirty years, and isthe money you have saved enough adjusted for
inflation to last you as long asyou live. Finally, with all that
said, we don't want to takeon any extra risk or market risk than
necessary. Everyone knows you shouldn't haveall your eggs in one basket, so
we want proper allocation. Diversification ofour investments is really important. The closer
(15:54):
and closer you get to retirement.Typically the rule of thumb is when you're
young, hey and be very aggressive, you know, try to save and
accumulate as much as you can.And then closer and closer to retirement,
the more conservative we should become becauseour working paychecks will stop, and then
we have to start thinking about generatingpaychecks from our portfolio and everything we've done
(16:15):
to save for retirement. So thoseare the five things here at average financial
that we hear from our female clientsthat are of a top concern to them
and top concern to women in generalapproaching retirement. Right. So, and
that's excellent because that's very good informationbecause I know that women are definitely thinking
(16:37):
that same thing. You know,living longer is vieusually the number one thing.
But I think what I'm hearing alot more today with when it comes
to people wanting to retire, isthat a lot of people don't want to
retire because they feel good, youknow, they want to continue to work.
So how do you work those typeof situations where they got one foot
in the door one foot out thedoor. Yeah, that's not necessarily a
bad thing. Matter of fact,A lot of our clients and a lot
(17:00):
a lot of retirees, I think, do that. You know, whether
you're retiring in your sixties, latefifties, early seventies, A lot of
people don't want to stop. Theywant to stay active. Typically most people
don't need to continue working, buta lot of people want to continue working
to some degree. A mentally sharp, physically sharp maybe not to drive your
(17:21):
spouse crazy either inside the house,I need to get out of the house
altherwise I'm gonna drive my wife crazy. You know. So a combination of
things are reasons why a lot ofpeople will not stop cold turkey from full
time to no working income at all, but they'll stip typically go from you
(17:41):
know, maybe both spouses working ifyou're married to one spouse, and then
maybe from that one spouse finishing offfrom full time to part time, and
then of gradual retirement is what wesee most often just because hey, you
got to keep yourself busy. Peoplewant to stay sharp and active, get
out of the house, and feellike they have still have purpose. So
(18:03):
if you are fully going to fullyretire, what I encourage any of our
listeners to do is to have alifestyle plan for your retirement, just as
important as having a retirement plan itself. What are you going to do in
retirement? What's going to occupy yourtime? How are you going to keep
yourself busy? What are the thingsthat you love to do? What fills
(18:23):
your life with purpose? Is itvolunteering at a church, is it volunteering
at a nonprofit? Is it traveling? You have some type of hobby that
you love to do that's going toyou know, that's going to keep you
happy in retirement, spending time withthe grand kids, whatever it is.
You want to have a plan forthat. And what we find, Kim,
(18:45):
is that a lot of our clientsare more busy in retirement, which
is a good thing because they haveall this time now and there are plenty
of all the time. So Ithink that's really important is continue to dream.
Continue to dream as you transition intoretirement. This is the next third
third of your life, the nextthird part of your life, you know,
(19:06):
the next twenty five thirty years.So it's important that I think we
continue to do the things we love. So it's going to keep us happy,
exactly. And I'm seeing more andmore women or women specifically, but
ment to but you know, theycome out of their work, they retire,
and then they open a business.So how do you you know,
get them to kind of balance thatbecause I think that's important to know that
(19:27):
they have an income then when theyare ready to go. But then here
we go, we got some morenew income coming through the door, even
more possibly than when it was whenthey were actually working. You know,
I think what a great retirement lookslike. I think what a successful retirement
looks like, Kim and my eyesis whatever you want to do in retirement,
(19:51):
if that's opening up a new business, if that's just you know,
you know, moving out of theDC metro area, and you know,
downsizing living at the beach, whetherit's spending all your time with the grandkids,
whether it's volunteering a lot of yourtime. Whatever it is that makes
you the most happy, that makesyou the most fulfilled. If you can
do that without worrying about money,without worrying about your income, without worrying
(20:15):
about the stock markets, then Ithink that's a successful retirement. You know,
one of our recent clients that justjoined our firm in twenty twenty two.
Before he joined, he said,he said, a I look forward
to Fridays at four o'clock when thestock markets are closed because I don't have
to worry about my portfolio. Andthis gentleman and his wife came on board
(20:37):
our company this year because that isnot a way to live. No,
exactly, if you can go aboutand you can do everything you've ever wanted
or dreamed of in retirement without worryingabout your income and where it's coming from,
and without warrying your about your portfoliosand the markets. In my opinion
as a retirement planner, that isan extreme success. Exactly. Yeah,
(21:00):
that's what I would say. Ifit's if it's opening up a new business,
if it's spending time with your familyand grandkids. A lot of people
want to travel the world because theywere working their entire careers, and so
whatever that is, write it down, put together a plan for all the
time. How are you going tospend your time in this, in this
phase two, in this, inthis you know, second part of your
(21:23):
life right now? You mentioned thatsocial security obviously is very important for people
to want to get it. Iknow people kind of go back and forth
between Okay, should I get itat you know, age sixty two or
sixty five and know that they movedit up to seventy, So what happens?
Yeah, or do you see inthe future that there may not be
so security available? So yeah,you know, I'm sorry, Yeah,
(21:45):
great question, Great question, Kim. Yeah, there is there is some
talk about maybe social security not beingaround one in its entire form. I
think both sides of Congress, allsides of government have made this promise to
Americas. I personally believe it willbe there now. Benefits may be maybe
(22:08):
cut, maybe discounted, and maybelowered in the future, maybe full retirement
is pushed back from currently sixty seventhen maybe seventy seventy two to seventy five.
But this is one decision that wewant to get right, and so
I would encourage. And this isfree. You know, there is no
financial advisor or retirement planner that sellsSocial Security, but they should be helping
(22:33):
you to plan for it because it'sprobably going to be several thousand dollars a
month, and it's a decision wewant to get right. So typically,
you know, it really does dependon when it is best to take it
for you. You know, ifyou are working through your sixties and you
don't need the income, you mightwant to defer and delay it to let
(22:56):
that benefit grow. Right, andfrom full retirement age to seventy it does
grow by a guaranteed compounded eight percentper year every year. We don't touch
it from full retirement age to seventyHowever, if you do wait till seventy
as a female, you better livelong and you probably will as a female
is till seventy to take social security, you better live to your mid to
(23:18):
late eighties, and you very wellcould. And the reason for that is
is because if we wait, wewant to make sure that it was worth
the wait, that by weight,we would have received more money by taking
it at seventy versus taking it atsixty seven or sixty two. However,
if you wait untill seventy and thenyou pass away at seventy two or seventy
(23:40):
five or eighty, it would havedefinitely been better to take benefits at maybe
sixty five, sixty seven, oreven sixty two. So the general of
thumb is if you take benefits earlyand you die before maybe age eighty two,
it would have been best to takethe early. If you wait till
four retirement age sixty five to sixtyseven and you live half stage eighty two,
(24:00):
you would win by waiting a fewyears. And if you wait till
seventy, you better live to abouteighty five and beyond and make it worth
waiting. The big question is,or the big thing is, none of
us know when we're going to passaway exactly, and if we did,
we could get the decision correct onehundred percent of the time. So you
want to look at your current situationfigure out do you really need it?
(24:22):
Can you defer and delay it andlet it grow. If we have your
birth date and we know about yourentire financial situation, what's going on,
put that into our social security planningsoftware to help you determine what it is
best for you. All right,Wow, Yeah, that's that was interesting
because I know that's been a hugetopic and there's always the back and forth
(24:44):
when people conversated about social security thatyou know, it's like, well,
why let the money to sit inthere where you can get it at an
earlier age, because we don't know, you know, at the same time,
we don't even though it can continueto build. But you know,
for some people they need it nowbecause that they do live off that that's
important for them as a part oftheir retirement. And you know, with
all the things that you laid out, those five items that you laid out,
(25:06):
it's very important for anybody, whetheryou're a woman or not, to
really understand your structure. But thebiggest thing that I've seen with people just
in every day doing business with themis that they don't pay attention to their
where their income they got the incomecoming in, but they don't know how
much is going out. And thatis so crucial in anything that we do
is understanding the basics. When weput together a retirement income plan KIM,
(25:29):
a retirement roadmap, yes for yourretirement, the first thing we need from
anybody is what are you spending?What are your expenses? And you know,
it needs to be as tight andas close to what you are spending
as possible. Because if we puttogether a retirement income plan for you and
you tell us you're spending five thousand, but you're really spending eight or ten,
(25:52):
you know and only you truly knowexactly what you're spending. We want
to be honest with that number becausewe build or a you sure, a
retirement planner will build an entire planaround what you are spending monthly and what
you need account net every month aftertext, So you really, if you
don't have a budget and you don'thave a good grasp on what you are
(26:15):
spending, you really want to gothrough that. I think that'd be a
great exercise. Figure out what youare spending, look at your credit card
statements, your mortgage, your rent, all your bills, add it up
and more than likely that's what you'llcontinue to need into retirement. Then build
a plan around that to make sureyour income's covering all the senses and hopefully
you have a surplus. You havemore than you need coming in right exactly.
(26:37):
Wow, I'm really enjoying this conversation. I could just keep talking and
talking about I think this is important, you know, And even though I
know we're talking a lot about youknow, to start now, you know,
looking at twenty twenty three coming aroundthe corner, and you know,
want people to understand how important itis to not look at resolutions but do
something, Do something that's going tobenefit you, you know, start out
(27:00):
fresh, make sure you understand whatdirection you're going through in life. And
a lot of times, like Isaid, these conversations just aren't something that
people sit down and want to talkabout. You know. They're worried about
little steps and little goals, whichis perfectly fine. But this is a
goal that's considered permanent, you know, And I think it's so important that
these conversations need to be talked aboutevery day. And I love, like
I said, what you're doing.You've been around for a long time and
(27:22):
I've seen you grow throughout these yearsand you know you're just doing phenomenal stuff.
But the key is is just gettingthose right people to focus on the
things that they need to really focuson. Kem, You're exactly right.
I would just encourage anyone listening rightnow, do you just take action,
be proactive, put one foot infront of the other, and just start
(27:44):
exploring the idea, putting together aplan. Right, Like we said,
there's a lot in this world youcannot control, but one thing you can
control is your own personal financial planand retirement plan. And there's a lot
in those, right, But juststart put one foot in front of the
other. Sit down with somebody thatis a fiduciary retirement planner that really has
(28:08):
your best interest first, that washeld by the highest standards in the industry
to give advice that's in your bestinterest. It was a specialist and can
help you that way, you don'thave to worry about you know, Can
I trust this person. They're legallyheld to give you advice, advice that's
in your best interest. Just takeone just put one foot forward right and
take action, and you'll be gladyou did, really be glad you did.
(28:33):
You're right you're absolutely right. LikeI said, it's we all know
it's scary because it's like the unknown. But at the end of the day,
when you have somebody that can guideyou properly and Abe, I know
you are definitely the right person.You've been guiding me for years. As
a matter of fact, I waswhen you said that you know when most
people started in their forties. I'mlike, yeah, I was in my
forties when I met That's exactly whenI started. So yeah, it's it's
(28:53):
very important that you know, likeyou say, you have that guidance,
and it's not about you people havingto feel like they have to have the
answers. That is what you guysare there for to help, you know,
ensure that people that are going inthe right path. So for those
who are truly interested, you know, this is the time. The time
is now. It's not about waitinguntil it's too late. It's about taking
(29:14):
those little baby steps. But thosebaby steps are going to be well worth
it in the long run. Soa before we leave and stop those conversations,
great conversation, why don't you tellthe listeners how they can reach out
to you if they're interested in youknow, getting your services, and then
of course talk about for a coupleof seconds your own radio so that you
have sure yeah, you know,any listener right now can just go to
(29:37):
retirement keyradio dot com Retirement keyradio dotcom just click on the contact us tab
at the top of the page andjust entering your information and that you'd like
a complimentary we call it a wheredo I Stand plan. It's essentially a
complimentary second opinion on what you're doing. And if you could also put in
that you found out about us throughKIM, I'd be fantastic. So we're
(30:00):
aware. So that's how someone canreach us retirement keyradio dot com. And
then our podcast is actually called RetirementRetirement Key Radio and you can find it
via Google Play, Spotify and iTunesif you just search for Retirement Key Radio
(30:21):
or my name abe A b eavish Abas and boy h. All right,
well again, I thank you fortaking the time out of your busy
schedule to spend with me this evening. Thank you, Thank you, Ken.
It's my pleasure and again I'm lookingforward to seeing you in the new
year. And so, like Isaid, for everybody else, please take
(30:42):
the time to think about your futureand get on board with this. And
Abe, you also, like Isaid, happy at this point, we're
gonna be saying Happy New Year.So so again, like I said,
thank you so much for your time, and then we'll give very welcome the
pleasure, the pleasure. Thanks forhaving me on. You're welcome, Abe,
have a good all right, thankyou, And so for everybody else,
(31:03):
I just want to remind you aboutthis great conversation that we just finished
having in reference to taking care ofyour future. You have control over your
future and the future is now.So for those who are interested, like
Abe said, in wanting to gettheir retirement planning in order, again,
you can reach out to him atretirementkeyradio dot com. Fill out the contact
(31:27):
information, make sure that you saythat you heard this on my podcast show.
And again, if you of thosewho can't remember my full name,
it's Kimberly macklamore. And as youknow, we're on your Resource for Success
podcast. Mention that those two thingsand Abe can get you hooked up and
get you taken care of because thisis what you need to have to prepare
for your future. And so again, like I said, I hope you
(31:49):
all enjoyed this evening show and theimportance of preparing. If you're not prepared,
as we said, it's time tohave the conversation. If you want
to reach out to me directly toget you connected to ABE, you can
reach me at Kimberly at WSBI LCat gmail dot com. Let's chat about
how to take those steps so youcan turn your dreams into into goals.
(32:09):
Also, if you want more ofyour resource for success, we do take
monetary donations to support the podcast,and you can send those through cash app,
PayPal, Goodpods, tip Jar,or you can go directly to the
website at wwwwsb I LC dot com. Again, thank you, we'd like
to say thank you for listening tous tonight. We'll be back next week
(32:30):
with more amazing guests. Be sureto follow us on iHeartRadio or wherever you
listen to your podcast. But untilthen, enjoy the rest of your evening
and good night, good night everyone. We will be back next Thursday evening
at seven pm. Follow us onspreaker www dot spreaker dot com, slash
user slash WSB I view are newWSBI website anytime at www dot ws b
(32:58):
I l LC dot com and onFacebook, Twitter, YouTube, LinkedIn and
Instagram. M m HM
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