[00:00:00] Speaker A: Any examples used are for illustrative purposes only and do not take into account your particular investment objectives, financial situation or needs and may not be suitable for all investors. It is not intended to predict the performance of any specific investment and is not a solicitation or recommendation of any investment strategy.
[00:00:18] Speaker B: You're tuned in to the Retirement Planning Pipeline, the show that helps you take control of your financial future. Whether you're five years from retirement or just getting started, we've got the strategies, tools and experience to help make the most of your nest egg. Retirement planning specialists David Pipes and Steve Zarek are two trusted voices in retirement planning with over 30 years of combined experience helping hard working Americans navigate 401k rollovers, income planning, tax strategies and everything in between.
[00:00:49] Speaker C: Thanks for joining us. I am David Pipes and if you're wondering how to get yourself on the right track for retirement or how to turn your savings into steady income, you're in the right place.
[00:00:58] Speaker B: And I'm Steve Zarek. Each week we break down the complex world of retirement in plain English, no jargon, just smart strategies to help you retire with confidence.
Now let's dive into today's show and start paving the way to your smooth retirement. Here are your hosts, David Pipes and Steve Zarek.
[00:01:16] Speaker A: Welcome to the Retirement Planning Pipeline. Your go to resource for smart Strategic Retirement Planning. Thank you so very much for making this show a part of your weekend. Listening on this and every Sunday morning right here on NewsRadio 710 WNTM. Jim Tarabokia alongside retirement planning specialist David Pipes and a reminder that it doesn't matter if you're a few years from retirement or just getting serious about your financial future Retirement Planning Pipeline. This show is here to deliver expert insights, actionable advice and real world strategies to help you retire confidently and comfortably. So give the man of the hour, David a call at 251-236-4-371 or visit retirement planningpipeline.com to schedule your free no obligation consultation. Speaking of which, let me bring in that man of the hour, David Pipes. David, how are you?
[00:02:09] Speaker C: I'm doing great, Jim. How are we doing?
[00:02:11] Speaker A: I'm doing excellent today. I'm glad I get to sit in here and host with you this week the Retirement Planning Pipeline. Hey, let's kick things off with this week's Quote of the Week.
American businessman and author Robert Kiyosaki brings us this week's Quote of the week. And Mr. Kiyosaki says, quote, it's not how much money you make, but how much money you keep, how hard it works for you and how many generations you keep it for. You know, we talked about that, you and Steve in the previous episodes, episodes one and two of the retirement planning pipeline, talking about annuities, but you talked about making that money work for you. Not just bringing in the money, but making it work for you as well.
[00:02:52] Speaker C: Yeah, that's super important, Jim. I cannot tell you enough how many even people my age are, you know, still working to sit down and, and their main, some of the main problems that, that the majority of people have is really managing that expense, those expenses which we're going to get into in this show as well.
[00:03:11] Speaker A: So yeah, Robert Kiyosaki, a great, great quote right there. The author of famous book Rich Dad, Poor dad, and again giving us this week's quote of the week. And a quick reminder, if you missed any part of today's show or want to catch up on previous episodes of the retirement planning pipeline, subscribe on Apple, Google or wherever you get your podcast, whichever podcast vendor of your choosing. All right, let's dive into today's show. Ready, Set, Retire how to de risk your portfolio, Plan smarter and create more income. And so, David, let's get into a retirement checklist, right? Essential steps for a smooth transition. This article comes to us from Forbes.com and number one is having a smart vision for retirement. Number two, access your current expenses. Number three, address major expenses pre retirement. Number four, plan Social Security timing. Number five, plan tax smart withdrawal strategies. Number six, turn your portfolio into an income generating machine. And number seven, prepare for market and longevity risks. Those all are very, very important. But let's start, David, with number one in having a smart vision for your retirement.
[00:04:24] Speaker C: Yeah, Jim, and I think, you know, the first thing that a lot of retirees have to think of when they truly transition. And the transitioning period is, is pretty, let's just say hectic. Well, it can be hectic at certain times. But when you're transitioning from that accumulation phase, right, you're plugging in your 401k, your savings account, your, you know, whatever, you got your CDs on the side, your non qualified funds, your IRAs, whatever it may be, and then you're transitioning over to the decumulation phase, right? So you start to withdraw money out, transitioning into, you know, more of the retirement cycle, you know, being able to plan for those expenses. You have to have a goal. And this is the first thing that I bring up when I talk to really any client. And the first thing I say is, hey, look, you know, I know that you might think you have a goal, but really, what, what are, you know, if I'm sitting with a spouse, what's your goal and what is your wife or your husband's goal together, right? And a lot of times you get a pause because at first they say two opposite things, right? One wants to go out of the country or one wants to see the grandkids more, you know, or one made may nod and agree with the other one. That happens actually. Actually a lot, right. And usually it's the, the husband agreeing with the wife, whatever the wife wants. And we see that a lot. Which, you know, truthfully. Smart man, right.
But, you know, as far as financial goals, now, how that differs from, you know, your normal goal is going to be, you know, more tailored towards expenses, okay? And this is a touchy subject when you get into some of the, the changes in the retirement field because you're no longer able to, you know, go to work and come home and, you know, save up for that vacation for fifth of that year, right? Your total amount of funds that you've generated and you've accumulated over those years is now going to be your nest egg to do the things that you want to do in retirement. And when everyone talks about that retirement, right. Retirement's supposed to be a positive good thing.
What I had been seeing, and I know Steve will say the same thing, is, you know, nowadays we're seeing more of a hurricane. We're seeing a retirement hurricane. And people are starting to, to, to not be able to understand retirement like they used to, right? Because the cost of inflation, you know, expenses are getting higher whether you didn't save, right. Being able to generate income in retirement is a big topic. So a lot of this time, you know, to be able to sit down and come up with a goal and to be able to fund that goal financially are two different things.
[00:07:07] Speaker D: Okay?
[00:07:08] Speaker C: Because I can go out and say, hey, Jim, I want to. I'm going to go ahead and I'm going to travel the Bahamas once a month, right? That's a goal. But how am I going to financially set that up?
[00:07:20] Speaker D: Right.
[00:07:21] Speaker C: And that's okay. Well, maybe I work three weeks, right? And then for that last week I go to the Bahamas. So that's how that kind of changes a little bit, Jim.
[00:07:29] Speaker A: You know, a lot of people, they miscalculate from what I've learned, their retirement expenses. In fact, I, I can tell you this as someone who has family members who actually go on two cruises a year and they tell my parents about this all the time. They say, hey, we're going on this cruise in April, and then we're going on another cruise in October and November. And as my parents dig a little bit deeper, they've learned that those said family members don't have all that much money. They don't have that much retirement savings. They didn't really plan as well for retirement. Their go, go years are really just kind of that just go, go on more and more cruises, but they don't really have much in the bank or much in their portfolio that they're able to actually spend in retirement 100%.
[00:08:19] Speaker C: And, and you, and it's becoming to that time where you see that a lot because of the age that we're in and the boomers are all turning 65, you know, and that generation's past. But, you know, we're seeing more of the people that aren't financially literate. And I say that because, you know, any, all you guys, all you listeners out there, I mean, this is the best way I can possibly put this financially litter is not only knowing, hey, I have my budget on my Excel spreadsheet. I spend this and I make this right.
Financially literate is being able to work and have your money work for you, which, Jim, we're going to get into shortly. But how, how can I accumulate but also make sure that I'm efficient and able to grow my money and they had my money work for me down the road for that retirement cycle.
[00:09:12] Speaker A: Yeah, and you kind of just brought it up there with assessing what your current expenses might be and maybe tracking 30 to 60 days of real spending. All right, let's move on to number three now. Number two, assessing your current expenses, which again, we kind of just discussed right there. Number one, having a smart vision for your retirement. But number three, addressing major expenses pre retirement.
[00:09:35] Speaker D: Yeah.
[00:09:36] Speaker C: And, and you know, this, this can change, you know, for really each client as it goes and for everyone out there listening, you know, the number one thing I think is it's important for major expenses is understanding your mortgage and your debt.
[00:09:53] Speaker D: Right.
[00:09:53] Speaker C: And I cannot go over this enough how many clients that I sat down with that have just thought to themselves, wow, okay, I've, I've got a, I've got a good amount of money. Okay, well, what's a good amount of money?
[00:10:04] Speaker D: Right?
[00:10:04] Speaker C: I've got a, I've got a half million dollars. When my 401k, I'll be okay. I don't need to spend very much. I can take it out when I need to. And what we end up boiling it down to is, is. Okay, well now your goal was a certain retirement, right, that you wanted to live, but now your debts are now adding up, right? So I had a client that switched from their million dollar home down to a $400,000 condo. And to them, right. And I even said this, I said, you know, that's, that's probably one of the smartest decisions you could ever make, right? Because having debt, you know, that, that you're paying for or, or oversized, you know, oversized amounts of money that, that you, you owe to a bank or you owe somewhere else is really only going to be decreasing the amount of money that you can actually bring in, in, in retirement.
[00:10:59] Speaker D: Right.
[00:10:59] Speaker C: Because you're not working anymore.
[00:11:01] Speaker D: Right.
[00:11:02] Speaker C: So that's one thing. And the other thing is relocating. Okay, I, I can't mention this enough and we're blessed to live in a super, super cool town, Jim, where, you know, we've got people coming here all the time. I, probably half of my clients are relocating here.
[00:11:18] Speaker D: Right.
[00:11:18] Speaker C: So if, if anyone is relocating to the area, okay, please reach out to us. We deal a lot with people coming in to our town. You know, South Baldwin County, Orange Beach, Fairhope, all of it.
[00:11:33] Speaker D: Right.
[00:11:33] Speaker C: Because this is one of the top seven growing counties in the United States. So we know you guys are moving in and that's, that's the majority of who we're helping. You know, getting someone local to be able to help you out.
[00:11:44] Speaker A: Again, you can contact David and Steve today at 251-236-4371. Again, that phone number, 225-1236, 4371. Well, we have a few minutes left here, David in segment one. Number four, plan Social Security timing again discussing the retirement checklist, essential steps for a smooth transition. A great article that was delivered to us from Forbes.com Number five, plan tax smart withdrawal strategies. Number six, turn your portfolio into an income generating machine.
And number seven, this one is talked about a lot on financial radio shows like this one. Number seven, it might be the most important one outside of the first one that we discuss.
It's prepare for market and longevity risks. How can retirees go about or pre retirees preparing for market and longevity risk. We've seen it last few years. The market has been up and down, up and down, up and down. It's hard to kind of predict what's next in the market. So how can pre retirees and retirees prepare for market and longevity risks?
[00:12:51] Speaker C: Yeah, I think, you know, preparing is something that you have to, you really have to do early And a lot of the times, you know, it's hard to put it like this, but if you're not smart early, it could take a lot to catch up.
[00:13:08] Speaker D: Okay?
[00:13:09] Speaker C: And the rule of compounding is the simple way to that, okay? If I've got a compounding rate, right, that rate is going to grow exponentially. So your, your funds are going to will grow exponentially instead of just a straight line linear, right? Which I think is the most important part when you look at the mathematics of it, right?
When it gets down to it, you have two sides, right? You've got an exponential equation on both ways, okay? It can decrease exponentially and it could increase exponentially.
[00:13:38] Speaker D: All right?
[00:13:39] Speaker C: And what I mean by that is, is when you're plugging in money, we've talked about this on another show, is the total inverse of when you're actually taking money out. And that's why number seven, Jim, is so important, because you have to prepare for market and longevity risk. And when it comes down to it, when you have something like the dead decade, that happens, okay, those people in that retirement phase, if they did not plan properly, they'd be out of money in seven to eight years, Jim. And that is not what any retiree wants, right? So if any of you have questions, really, I'm sure everyone has questions about that, please do contact us. 100% free consultation, and we sit down with you and really plan that. That's one of my specialties, Jim. It really is to go over what to risk and what not to risk and how to really plan for that future for.
[00:14:27] Speaker A: And you have a mathematical background, David, as well.
And so you plug in those numbers. This is not any guesswork that you're doing. You're actually plugging in real numbers and going forward with that. And that's how you show your clients where they are and where they need to be when they're in retirement as well. So again, give David a call, 251-236-4371, or again visit Retirement PlanningPipeline.com to schedule your free no obligation consultation. Really quick, though, how do you go about that, David, when a guy with a math background like yourself, very smart, very distinguished, how do you go about plugging in those numbers, creating those charts for all of your clients and something that you've been doing very successfully and get them prepared for retirement?
[00:15:11] Speaker C: The first thing that I do, Jim, is I really sit down and I ask three or four questions, okay? First one's going to be income, second's going to be debts, of course, okay? I need to know your income and your debts. And then lastly is really your assets and where they're allocated at.
[00:15:27] Speaker D: Okay.
[00:15:28] Speaker C: The goals are. The goal is the first thing I ask. But, you know, that's, that's not really the four questions that you really want the numbers about.
[00:15:35] Speaker D: Right?
[00:15:35] Speaker C: Because you can't, you can't have a numeric value for a goal.
[00:15:39] Speaker D: Right?
[00:15:39] Speaker C: Yeah. You have to be able to ask this. The, the four questions that really matter. And a lot of the times I get a lot out of those three questions because they'll tell me those things and they might be wrong. 70, 80% of the time.
They don't know what their net worth is. Sure, right. So I'm helping them. I'm guiding them.
[00:15:59] Speaker D: Right.
[00:15:59] Speaker C: And I think that's one of the most important things is being able to teach someone. I was a calculus 3 tutor in, in college, you know, and being able to have someone go through these, these equations and get the right answer is like, mind blowing to, to, to them. You know, they're, they're, they're more, they're more out there and than I am. And they're so proud of themselves because. And it's kind of like that with retirement, man. I mean, making someone confident in retirement is something that you can't explain. It's a, it's a bright light in their head. But, no, that's the first thing we do. And I use the whiteboard, Jim. We go to the whiteboard, man, like we're fifth grade, you know, calculate numbers, understand what you have, what risk portfolio, whether allocated. And then all of a sudden, as you go down the line, they just start, it starts clicking, Jim. And it's really, really cool to experience it with clients. And I hope you guys, you guys can all give me a call and we'll definitely sit down 100% free consultation and really plan towards that future retirement.
[00:16:59] Speaker A: And, you know, shoot. I mean, some people, let's be honest about this, they may think they know what their net worth is or what even net worth means, but a lot of people do not.
[00:17:09] Speaker C: No.
[00:17:09] Speaker A: And hence the example I gave you early in the show about family members who always tell my parents we're going on these cruises, and yet they're not really preparing much for retirement because they probably don't know their net worth.
[00:17:20] Speaker C: Yeah, yeah, yeah.
[00:17:22] Speaker A: All right, well, again, give David a call or again, visit the
[email protected] coming up later in the show, we're going to dive into a common myth about annuities. We'll discuss that. But coming up next, why you should de risk your retirement plan. That's coming up right after this on the Retirement Planning Pipeline. We're back in a moment, helping you.
[00:17:46] Speaker B: Take control of your financial future.
This is the Retirement Planning Pipeline.
Visit Retirement Planning Pipeline to schedule your free no obligation complimentary consultation today. And now back to the show.
[00:18:17] Speaker A: You're tuned in to the Retirement Planning Pipeline right here on Newsradio 710. WNTM Jim Tarabokia alongside retirement planning specialist David Pipes. And we want to remind you to visit Retirement PlanningPipeline.com and also to the Retirement Planning Pipeline YouTube page for various clips for previous episodes. YouTube.com Retirement Planning Pipeline well, David, it's good to be here with you this week. Coming up later on in the show, we're going to dive into a common myth about annuities and break that myth. We'll discuss that a little bit later on. We also discussed there in segment one, talking about the retirement checklist, essential steps for a smooth transition. Again, an article from Forbes.com, we'll list them off here really quickly. Having a smart vision for your retirement, assessing your current expenses, addressing major expenses, pre retirement plan, Social Security timing plan tax, smart withdrawal strategies, turn your portfolio into an income generating machine. And then the seventh one, preparing for market and longevity risk. If you miss any part of that first segment again, subscribe to the show and podcast form on Apple, Spotify or wherever you get your podcast. All right, let's talk about why pre retirees and retirees should de risk today. David, this comes to us from Morningstar.com de risking your portfolio reduces sequence of return risk. Lock in favorable rates on safer investments. Don't chase returns late in the game. So let's start with the first one there. De Risking your portfolio reduces sequence of return risk.
[00:19:58] Speaker C: Yeah. And we could talk about this shoot for a long time, Jim. But you know, to make it simple and to, you know, because a lot of times in retirement you don't want it to be too, how do I say this? You don't want it to be too complicated.
[00:20:15] Speaker D: Really.
[00:20:16] Speaker C: I mean that, that's the word to put it, you want to simplify it.
[00:20:19] Speaker D: Right.
[00:20:19] Speaker C: And I think retirement a lot of the times is always put into that complicated aspect when that's what we do, you know, we really sit down and simplify it for the, for the client's goals, you know, and for their needs. And when it comes to pre retirement, and I will say this every time, you know, you should be planning for retirement Three to five years before you actually retire. And why this is so important is. And you look back at the dead decade, and we talked about this on one of our other shows. If you have two or three years, like 2000, 2001, 2002, when you don't have a good market, okay? And you are, you know, bearing that market risk and you start taking off income when you start retirement, you will see your portfolio deplete faster than anything.
And the math does not lie. And that's. That's my favorite statement. I every seminar that I speak at, and I talk to a lot of clients about this when we go to the whiteboard, math does not lie, okay? And everyone can say, well, the market's going to come back. It's going to come back there.
You can't time the market. And I know everyone understands that you cannot time it, right? So when you're in it for those longevities, you have to finally understand that you have to really put your portfolio and allocate it in the right assets, right? And sadly, you know, the majority of Americans have a lot of their assets inside on market risk still today. And it's just, it's something that retirement pyramid says not to do, right? So please reach out and ask questions. I would love to sit down and go over the math with anyone who really wants to understand this. The other thing is, is that when you get to that retirement cycle, right, There has to be a certain amount of assets that are put away without risk to be able to move. You do not want to be drawing income off your 401k, IRA, stocks and bonds, dividends, whatever you have, okay? You do not want to be touching them if they are in market risk. You want to have that amount put away for when you do want to have that income, whether you're generating income, guaranteed income, which we do a lot for clients, a lot of income planning, or just being able to draw off what you want of your nest egg.
[00:22:34] Speaker D: Okay?
[00:22:35] Speaker C: You know, I always say this.
You want to be able to be aggressive when you're in the stock market. I cannot explain this enough.
If you are in the market, you are in there for growth. You are not in there for diversifying your portfolio into bonds and stocks and fixed income. That is not the point of the stock market. The stock market is your entire life. You are plugging your money in for growth, for great returns.
[00:23:00] Speaker D: Okay?
[00:23:01] Speaker C: So all this stuff where it says put 40% into bonds and have it inversely correlated, it makes no sense when you do the math and you do the numbers on the board. You should not have any of your money into bonds. If you are retired, you want to use that money. It just makes no sense, right? So have your part of your portfolio where you really want to be aggressive and accumulate, right? Because with risk comes reward. If you have no risk, you have no reward. Now if you want to take money out of your 401ks and IRAs, place that into a different allocation method and be able to earn market link gains without any risk, which again, we do that for clients every single day. So if you have any questions about that 100% free consultation, sit down with us, ask those questions. Even a phone call, guys, I mean, we do this every day with multiple clients.
And really what pops up is, is that the same problems are happening. So you guys out there listening, you guys know, I mean, you guys know better than anyone because you're living it, right? How many of you have all your assets into what the stock market, right? Or bonds, whatever it is, you're in the market, right? And if it's not, you're in CDs, but you're also paying what, right? You're paying your, your 2099ints at the end of the year. So you're, you're not tax deferred anymore, okay? So all these, you know, all, all the questions that really go down into the pre retirement cycle and the retirement cycle really boils down to one simple thing, okay? Allocation and really weighted average, you need to have stuff weighted, okay, let's say that, you know, I'll give you an example. A client wants to use $50,000 a year to use for vacations, right? They have a million bucks, okay?
Personally, if I was that client, I would take out half of my, my million dollars and be able to actually generate income and leave my half million dollars still fully aggressive. Now what does that do? That literally gives me a guaranteed income, okay, for all of my vacations or anything that I want to do in my retirement. And I'm also allocated in the market for growth where I'm not touching the money, okay? And this is a big misconception that I think pretty much everyone gets wrong. And there's a lot of financial advisors that actually tell people the wrong facts and statistics because the math is the important part, really. I mean, and they don't go by the math, they go by the, the, the data values of the past 20 years, the past 30 years. Guys, the market's never going to be the same as 20 years ago, okay?
When you buy a car Today, is it the same as a 2000? It's a 2000 Honda. The same as a 2025 Honda? No.
2000 Mercedes Benz. No. They've upgraded, they've gotten better.
[00:25:58] Speaker D: Right.
[00:25:58] Speaker C: So your retirement has to get better.
[00:26:01] Speaker D: Okay.
[00:26:01] Speaker C: You can't use the same stuff that you used back in the, in the 2000s that you can use now or back in the 1990s or my grandfather did this or my grandmother did. It's not the same. You have to be able to innovate.
[00:26:14] Speaker D: Right.
[00:26:14] Speaker C: And use the math to help you.
[00:26:17] Speaker D: Right.
[00:26:17] Speaker C: And I think that's the one biggest key nowadays in retirement is really how to be efficient.
[00:26:23] Speaker D: Right.
[00:26:24] Speaker C: How to not take those losses and take the gains properly, which we go over so much, guys. And if you have questions again about gaining those tax deferred gains with the link, with the market link gains, you know, we'll definitely sit down with you and show you how you can have that upside potential without the risk.
[00:26:43] Speaker A: Okay, so let me ask you this. And again, the math that you're discussing, it ties in with why you should de risk your retirement plan and the way that, say, you mentioned, of course, the debt decade.
[00:26:58] Speaker D: Right. Okay.
[00:27:00] Speaker A: Now obviously the way the retirement planning was done back then during the debt decade is a lot different now because of the tools available. You mentioned there, the math which you believe is foolproof.
How do you feel the math helps even more pre retirees get themselves ready and de risk their portfolio pre retirement?
[00:27:20] Speaker C: I think, Jim, that's a great question, but I think there's more than just the math right now. I think, I don't think, I know, right. There are, there are vehicles now that we never had. There are, interest rates are, are high right now. I mean, and then companies are competitive. We, we've got, there are so many vehicles out there for retirees to use to really benefit them in their entire, entire retirement cycle that they're not even aware of. And I think that's one of the biggest problems right now is financial advisors and financial professionals aren't showing these retirees what they have to be offered. They don't even know because all they know is, is that, hey, my, my, my, my funds are in a portfolio for my 401k and my rollover IRA. And they're just sitting there and they're getting feed left and right because of course someone's got to make money somewhere and the money's just sitting there, right? And their financial advisor goes on five trips, right? Or oh, I'm, he's out of the office this week. So I can't really talk to him or you know, and I've heard that so many times it goes back to the simple, the, the, the, the, the simple spot. You know, Jim, it doesn't matter, it doesn't matter about how you really want to live that retirement. It matters about the math that goes into it and how to do it effectively.
[00:28:45] Speaker D: Right.
[00:28:46] Speaker C: And you know, down the road we didn't have what we have now.
[00:28:50] Speaker D: Right.
[00:28:51] Speaker C: So new cars aren't what old cars used to be. So again though, we're seeing a lot of people use old techniques, right, or old vehicles or old ways of retirement that shouldn't be where they are now. And with the math, you know, the interest rates are higher, they're paying out more, you have a higher potential gains with market without, without any risk. I mean you can't ask for any.
[00:29:15] Speaker D: Better than that, right?
[00:29:16] Speaker C: So yeah.
[00:29:19] Speaker A: And again, if you're looking for another reliable stream of income in retirement, get in touch with David and Steve today so that they can discuss how a personal pension can become part of your retirement plan. Again, the companies, David, are not really offering pensions anymore. It's the 401ks and things like that. But the pensions are kind of a thing of the past at this point.
[00:29:38] Speaker C: Yeah, we, we specialize, I would say probably 60 to 70% of my business is really planning that income. And you know, not, not all clients need guaranteed income.
[00:29:50] Speaker D: Right.
[00:29:51] Speaker C: But when you find out their goals and to be able to transition and to use what you have available right now, I mean we've got vehicles guys that, I mean I'm not going to put out percentages out there, but we've got vehicles that are paying two times higher than your average rate that people say or that old financial advisors say that you can make all for your retirement guaranteed for life.
[00:30:13] Speaker D: Right?
[00:30:13] Speaker C: So there is no reason that you shouldn't be looking at these and getting into something and transitioning some of your assets to, to these things and, and we can sit down and go over them with you. You know, we all. There's so many companies out there that offer different kinds of things and different really parts inside the vehicles, you know. But the number one thing is man is we really need to transition your assets and allocate properly.
[00:30:38] Speaker A: And again, to schedule your free no obligation consultation visit retirement planningpipeline.com Come ready, set, retire. How to de risk your portfolio. Plan smarter and create more income. This is the retirement planning pipeline.
[00:30:53] Speaker B: Visit Retirement planning pipeline to schedule your free no obligation complimentary consultation. Today the retirement planning Pipeline will return in just a moment.
Welcome back to the Retirement Planning Pipeline. Here are your hosts, David Pipes and Steve Zarek.
[00:31:20] Speaker A: Thanks for joining us. This is the Retirement Planning Pipeline. Jim Tarabokia alongside retirement planning specialist David Pipes. And if you're looking for another reliable stream of income in retirement, get in touch with David and Steve today so that they can discuss how a personal pension can become a key, key part of your retirement plan. Give David a call at 251-236-4371. Again, that phone number, 251-236-4371 or visit retirement planningpipeline.com retirement planningpipeline.com to schedule your free no obligation consultation. Is your level of risk age appropriate? DAVID The Rule of 100, a simple financial guideline often used for retirement planning. It helps individuals determine an appropriate asset allocation based on on their risk tolerance and age. If you have questions about the rule of 100, visit retirement planningpipeline.com David Pipes, man of the hour. The rule of 100.
[00:32:20] Speaker C: Man. This is a tough topic, Jim, because, you know, you get, it gets hairy and, and you know, everyone can say, well, that's a rule that's been happening forever.
Clients are different. You know, I mean, for instance, when I retire, I mean, and I've got funds, I'm going to use the majority of my funds in general to be able to do what I want. And I mean, if I have a client that wants to give half of their money away to their kids, then maybe 50%, I mean, even I don't care what age they are, you know, so it really depends on the comprehensive plan. And I can't stress that enough.
If you do not have a comprehensive plan, you have one advisor and you have all your money in the stock market, you need to give us a call or go on our website, set up a meeting, something, ask the questions that you have.
It is, we're now in a day to where every retiree, every retiree should have a comprehensive plan. And that means every single part of retirement, whether it's the income side, whether it's the legacy side, right? Leading to a legacy. Okay, That's a big part of it, too, right? We'll get into that in a different show. But you have to have every single, we call it the four corners, okay? So you have to have those four corners inside your comprehensive plan. And if they're not built in, then you need help.
[00:33:44] Speaker D: Right?
[00:33:44] Speaker C: And I hear it all the time, Jim. I hear, well, guess what? I've got, you know, I've got two, $3 million. And I, I'm going to take money out when I want and blank, blank, blank. And that's all aggressive and that's, that's all fine and dandy until you have one year of the market when you're fully aggressive and you lose 30%. And then all of a sudden you take out another 10%. Now you got to gain like 53% back to get to square one again, Jim, on that next year. Now, I don't know about you, but I don't know, one year, The S&P 500s did 50 something percent right in one year. So, you know, that's, that's where it gets tricky is when you do the math and the percentages that get up to the, to that level. And we always say it, you know, the math doesn't lie.
Okay, well, I've, I have a loss of negative 30% in my portfolio and I gained 4 to 3% back. Where am I at? You're back at square zero. People are like, yeah, what? How does that make any sense? Easy, right? You have a hundred thousand dollars, you lose 30%. You're at $70,000.
[00:34:41] Speaker D: Okay?
[00:34:42] Speaker C: 30% of 70,000 is not 30 grand.
[00:34:46] Speaker D: Okay?
[00:34:46] Speaker C: And here, and hold up, let me say that again to all listeners out there.
30% of $70,000 is not 30%.
[00:34:54] Speaker D: Okay?
[00:34:55] Speaker C: So that's where the retirement cycle is different when you're taking out the money.
[00:35:01] Speaker D: Okay.
[00:35:01] Speaker C: And you're not putting it back in.
[00:35:03] Speaker D: All right.
[00:35:04] Speaker A: Yeah, great math there, David. And there is some math here that I do want to bring up and ask you now. Retirement Planning Pipeline. This show, of course, airs every Sunday right here on Newsradio710WNTM. And our podcast is available on Apple, SP, Spotify or wherever you get your podcast. But we are also part of a bigger network. It's called the Retirement Radio Network. And listeners have wrote questions in and one of the questions that we've gotten, and this is important, this again has to do with math and your portfolio. A 60. Tell me if I'm right or wrong here, David. A 6040 portfolio, 60% stocks, 40% bonds, is a tried and true method and is still the, the best way to construct a portfolio for retirement. Is that right or wrong?
[00:35:52] Speaker C: Absolutely wrong, Jim.
[00:35:54] Speaker A: So, so the buzzer wrong.
[00:35:56] Speaker D: Yeah, yeah, yeah.
[00:35:58] Speaker C: The buzzer comes in, Jim, and I tell you why. You know, you'd get, you'd get into this percentage, 6040, this, that. First of all, it's, you got, we go back to square one again. What's the Client's goals, okay? And I go back to square one for myself. I would never, ever touch a bond in the day in my life, okay? I'm. I'm too good at math for that. I'm not doing it, all right? I mean, and it's simple as this, okay? I've got all my money inside of the portfolio, all right? So I'm saying, okay, I'm gonna go ahead and diversify it again. Our whole goal was to, what is to grow is to accumulate.
[00:36:35] Speaker D: Right.
[00:36:36] Speaker C: As fast as I can.
[00:36:37] Speaker D: Right?
[00:36:38] Speaker C: I mean, you know, that's the, that's everyone's goal is to be in the market. And one stock goes up, crazy, the SB 500, the NASDAQ goes crazy.
That's their goal, to grow their funds. All right, so let me ask you three quick questions, all right? So if I said to you, hey, when you get to that retirement age or as you grow older, I'm going to just switch your portfolio up. And the guys, you know, I value being unique. So if you have questions about these, please call in, please go to our website, because I love talking about this stuff. This is my career. This is why I love helping people do. Okay, is that retirement cycle. But if, if I, I'm retiring, okay, And I'm in, I'm. Days and years are going by and I say, my, My financial manager says, okay, well, I'm going to change your portfolio up, okay? I'm going to charge you the same fee that I'm already charging, okay? Which goes up. If you're, if your funds go up, well, hopefully they're going up, right? And if they're not, you really need to call us.
But okay, I'm gonna, I'm gonna keep the same fee. I'm gonna pull down your risk.
So now your rewards less.
So what you're paying me for, I'm not going to do as good as I could.
Hear me out. You're going to pay the same fee, and you're going to put your 40% or 39 or 38 every year goes up, right? That's what they say, 40% into bonds. And they're going to stunt your growth, which is not the point of the market anyways.
[00:38:08] Speaker D: Okay?
[00:38:09] Speaker C: So now you're stunning your growth. You're paying the same fee on all your funds, and you still have risk of the market.
That is three negatives as you get older that the financial industry has been telling you to do, okay? I always say this. Beat the system. I'm a big, big believer in beating the system. And that's what we do for a lot of our clients. Again, if you sit down with us, we go over ways, unique ways, right. Mathematically, ways that we could beat the system and not really have the system beat us.
[00:38:41] Speaker D: Okay.
[00:38:42] Speaker C: So it goes back to, to square one again.
[00:38:45] Speaker D: Okay.
[00:38:45] Speaker C: If you do the math on these things and you really look at it, okay, how can I maximize my retirement?
[00:38:52] Speaker D: Right.
[00:38:53] Speaker C: And I think, Jim, you asked a great question, but because everyone does it and people go, I'm not in bonds, guess what?
We pull their statements up, Jim.
They all are.
[00:39:05] Speaker D: Yeah.
[00:39:06] Speaker C: I had a poor, I had a poor lady a couple months ago, you know, she had 50% in the bonds and she said, I didn't know that.
My financial manager just had it in there. And I trusted him. And this, that, this, and there could be great relationships out there. People might buy you gift baskets or whatever. But is that gift basket really worth thousands of dollars that you might be not making in a year? Because you're not. You don't have the full comprehensive plan, Jim, you know?
[00:39:31] Speaker A: Right, right, right, right. And, and, you know, many have no idea what's in their bond portfolio. Correct. So let me, let me throw another scenario out at you. You might often see 40% or more in bonds that are underperforming or carrying more risk than clients realize. When you're presented with that scenario, you and Steve, how do you guys go about helping that person, pre retiree?
[00:39:56] Speaker C: I think that bonds are. Bonds are tricky, and this is why I don't touch them, you know, and then it's tricky because you've got two sides of it.
[00:40:08] Speaker D: Right.
[00:40:09] Speaker C: You still have risk, obviously, Right. I mean, that, that bond can sell at a premium.
[00:40:14] Speaker D: Right.
[00:40:17] Speaker C: I just, I'm not a big fan of, of giving me a certain rate until it matures and then also having risk on it. I just. On, on the side of where they're the inversely correlated part, the statistics of it, Right. You're going against what, what stocks do.
[00:40:36] Speaker D: Right.
[00:40:36] Speaker C: That's why people put bonds in a portfolio is to be able to diversify the risk. So if one's correlated, you know, bonds have been killed in the past 10 years.
So what happens is, is that people were in the, that weren't in the stocks, Right. And they retired 10 years ago, were all heavy into bonds, and their portfolio did terrible.
[00:40:57] Speaker D: Right.
[00:40:57] Speaker C: Or terrible considered as someone else's portfolio.
[00:41:00] Speaker D: Right.
[00:41:01] Speaker C: Again, if they would have put that bond portfolio into something.
[00:41:05] Speaker D: Right.
[00:41:06] Speaker C: And there's a lot of different vehicles out there to gain market link gains without the risk Right. Or been able to put it into guaranteed income to be able to fund something else.
[00:41:16] Speaker D: Okay.
[00:41:16] Speaker C: And that's where that comprehensive plan comes from. I, I just, I'm not a, I'm, I'm not a fan. I'm just not a fan, Jim. And I think a lot of times too, when you sit down and you go over the numbers, those bonds that people are in, they're still paying a fee off the assets under management.
[00:41:32] Speaker D: Right?
[00:41:33] Speaker C: Which leads to the, the next problem is, you know, 1% of 500 grand is not the same thing as 1% of $5,000.
[00:41:42] Speaker D: Right.
[00:41:42] Speaker C: And that is, that is the most important part. If anyone on here, you know, wants to ask questions or think about that, guys, 1% of a million dollars is $10,000.
[00:41:54] Speaker D: Right.
[00:41:54] Speaker C: You're paying 10. If you have a million dollars in your 401k or your IRA, you roll over and you're, you got someone managing it, but 40 or 50% of it is in the bonds you're paying.
[00:42:06] Speaker D: Right.
[00:42:06] Speaker C: That 1% of really what you don't need to be doing.
[00:42:11] Speaker A: Right, Right, right, right, right. That makes a lot of sense. Now again, if you haven't heard from your advisor lately or simply aren't receiving the attention you deserve through your work based retirement plan, let David and Steve provide you with a great service. A complimentary consultation. That's right.
Free consultation. Who doesn't like free? Come on now. Free, complimentary.
[00:42:32] Speaker C: And that's one thing we love, we love to have to have those, those conversations. That's right.
[00:42:38] Speaker A: That's right. And again, providing that comprehensive financial and retirement consultation, no cost to our listeners, no obligation to continue working with David and Steve after they build a plan for you. They only want you to work with them if it's best for you. So again, call David and Steve now. 251-236-4371. That phone number, 251-236-4371 or visit retirement planningpipeline.com Coming up next, we dive into an important myth about annuities. You're listening to the Retirement Planning Pipeline. We're back in a moment.
[00:43:15] Speaker B: Planning for retirement doesn't have to be overwhelming. Get expert insights, tools and personalized strategies to secure your future. Visit retirementplanningpipeline.com today.
Missed part of today's show. The Retirement Planning Pipeline is available wherever you get your podcasts
[email protected] welcome back.
[00:43:46] Speaker A: Inside the Retirement Planning Pipeline. Thanks for taking time, time out of your busy schedule this weekend to listen to our program. The show that serves as your go to resource for smart strategic retirement planning. Thank you so very much for making this show a part of your weekend. Listening on this and every Sunday morning right here On News Radio 710 WNTM, Jim Tarabokia alongside retirement planning specialist David Pipes. And a reminder that it doesn't matter if you're a few years from retirement or just getting serious about your financial future retirement planning pipeline, this show is here to deliver expert insights, actionable advice and real world strategies to help you retire confidently and comfortably. So give David and Steve a call at 251-236-4371. Again that phone number, 251-236-4371 or visit retirementplanningpipeline.com to schedule your free no obligation consultation. All right, let's dive into that important myth about annuities that a lot of people, David, seemingly get wrong and that it's a pretty simple myth, by the way. It is all annuities are bad.
Should we sound the buzzer now or later? All are bad. Let's, let's break down that myth.
[00:45:01] Speaker C: I think, I think really, you know, I think everyone knows I mean in it and if you don't and if you're going to listen to all the jargon where it's like, hey, you know, oh, they're, they're a fake thing, they don't, they don't do anything for you, you know, for growth, they suck. This either they were one or two things, they were sold the wrong product because they, they went to a guy that doesn't know what the heck annuities are or what really how to use them.
[00:45:27] Speaker D: Right.
[00:45:28] Speaker C: Or, you know, number two is, is they, they really went into the, to the wrong one themselves. They thought they were wanted, wanted something that they didn't want.
[00:45:36] Speaker D: Right?
[00:45:37] Speaker C: So you have over 3,000 types just in the state alone, you know, and it, it really depends on the client and their goals and their necessity needs and how much funds and how, you know, what amount of funds they actually want to put into an annuity. I think, I don't think, I know annuities have a huge part of retirement. Guys, annuities have been around since early 1800s. I mean, they wouldn't be here forever if they were that bad, Right?
You financial corporations and everybody else wouldn't let them be sold if they were really that bad. So everyone out there that thinks if you really think that annuities are bad, you really, really need to give us a call or, I mean, sit down with us and if you're in that retirement phase because you really need to sit down and understand what they are and how they can help you.
Now, does everyone need the full amount?
[00:46:32] Speaker D: No.
[00:46:32] Speaker C: You know, I mean, does everyone need all their money and annuities? Heck no.
[00:46:36] Speaker D: Right.
[00:46:36] Speaker C: But you've got to be able to position certain assets for that annuity word, whether it's a fixed index that you can gain those market link gains, which we do a lot of business with, or creating a personalized pension. I can't, I cannot stress enough. The personalized pensions right now that you can get with just the amount of money in your IRAs or 401ks are absolutely unbelievable. They're better than they've ever been.
[00:47:00] Speaker D: Okay?
[00:47:00] Speaker C: So if anybody has questions about those or, you know, you want to at least quote something, come to us, sit down, understand them, and actually what you're in too. Because we do a lot of business too, Jim. I mean, with, with bad annuities, with, well, let's just say annuities that people shouldn't have, right, because they sold the wrong product.
[00:47:20] Speaker A: You bring up a good point. And let me ask you this. When we say all annuities are bad, that obviously is a myth. There are many different type of annuities out there, though. Here are some of the most common. Immediate annuities, Fixed indexed annuities. Indexed annuities, Variable annuities. Again, immediate annuities, Fixed annuities, Indexed annuities, variable annuities. So let's say I walk into your office and I'm not well versed on annuities. Hi, I'm Jim. I am a radio host on Retirement on the Retirement Radio Network.
And I would like to know more about annuities. David, can you help me out? Which one of those four annuities would be best for me? Pre retirement or someone like me?
[00:48:01] Speaker C: There's got to be a couple questions in there, Jim. And I have to say, hey, look, well, first of all, what are your goals?
[00:48:06] Speaker D: Okay?
[00:48:06] Speaker C: And I know, I know you know that's the first question I always ask, but we're here for the clients. I'm here for the client, you know, and, and if I'm not doing the right thing for the client, then I don't even want to. To help them.
[00:48:18] Speaker D: Okay?
[00:48:19] Speaker C: So that's the first thing that I ask is, look, what are your goals? And that really, that's gonna define where they need to go with an annuity. Now, I deal with a lot of retirees, okay? So I'm gonna knock a couple off already. Variable annuities have risks to the market.
Okay. I'm sorry to tell you, if you're to go to a variable annuity, you might as well already be in the market. There's no reason to do that in the retirement cycle at all. Now if you're going in for a guaranteed income, you're gonna go into the fixed index. They have the best guaranteed income out there. Okay, so personalized pensions, fixed index is where it's at. Now if you're looking for more of a cd, right? And you want a fixed, and you want the highest fixed side, maybe we go into a multi year guarantee or a fixed annuity.
[00:49:00] Speaker D: Right.
[00:49:01] Speaker C: And that's going to depend on the client and their goals or what they want.
[00:49:04] Speaker D: Right.
[00:49:04] Speaker C: Now there's also a lot of riders that go into them, right, with death benefits and all this kind of stuff. And really to, to tailor down towards it, there's a lot of formulas in the back of the contracts that people don't read. And one of the biggest misconceptions, which was why my business is so successful right now, is because you've got a lot of financial professionals out there and advisors that went to school for finance that don't know the math.
So they're putting these people in products they don't understand, and then it gives that annuity the bad rep. We always say it in our first seminar, what's the grill in the room?
[00:49:40] Speaker D: Right, right.
[00:49:41] Speaker C: So, and that big word annuity comes out. And the bottom line is, is that when you don't know how to do something or you don't know how to present something to a client, right. You just kind of do it. You just cut. If a client asks about, hey, can I have an annuity? And you don't know what it is, you just want to give it to them because you have it. You don't know the insides and outs of that product or what company you're in, or the writers that are involved or what the goal and purpose of that annuity is. So really when you sit down with a client, you have to really go over that. I can't tell you how many times I've sat down with a couple and we go over a couple of their annuities that they have and all of a sudden they're like, well, David, I. I never knew I could get out. Or I never knew that these were bad, or I never. We call, we have our own seminar called the Annuity Test.
And Jim, I tell you, it's pretty cool because people can come and they think that they have a, okay annuity, or maybe I haven't been tricked. And then they, we just go t chart, Jim. We put, we put a t chart up and we go side by side and I go, look, here's the math. Which 1D would you rather have? Oh, well, David, that's a no brainer. That one. Well, did you know that these rotten the market? No, I didn't know that. Because either the agent only has certain companies that he can sell or certain products, or the knowledge is not there, Jim. And the math is what brings the knowledge.
Yeah.
[00:51:01] Speaker A: You know, the first, one of, the first professional athletes ever, you probably know the answer to this, that had an annuity was none other than Babe Ruth.
[00:51:12] Speaker D: Right.
[00:51:13] Speaker A: First one. Now, I'm not sure I, I, somebody told me that, I'm not sure exactly which one he had. It might have been a fixed index annuity. I'm not 100% sure, but my ears perked up when I heard, oh, Babe Ruth, he had an annuity. And it goes back to the point that you made earlier that annuities, this isn't a new thing. This isn't say, bitcoin or cryptocurrency.
That is still somewhat unproven. Of course, this is something that's been around for a long time. Even it predates Babe Ruth. The what, late 1920s, 1930s. Yeah, it goes back all the way the 1800s.
[00:51:45] Speaker C: Yeah. And what people have a misconception about too. And, and now, you know, you throw this out there, then maybe, you know, you guys out there that think, think that annuities are bad. Well. And you have a program in your brain, which I really, really hope that you guys give us a call and sit down with us because we will prove you wrong immediately. And even if you don't need, you know, a certain annuity, we'll still show you that there they can work for a lot of clients in retirement. And how they could work.
Well, really, I mean, I think every retiree should have a portion of their assets. And that's, that's my personal opinion, but I have math that actually backs that up. But guys, Social Security, a pension, you know, a payout for a legal system, all those are actual annuities.
The word is an annuity. So I mean, you can say annuities are bad all you want, but they're living all the way around. You just like math, right? So anything that has a specific payout.
[00:52:37] Speaker D: Right.
[00:52:37] Speaker C: Is an annuity.
[00:52:38] Speaker D: Okay?
[00:52:39] Speaker C: So you have to really dial down and read these things and understand them and understand really have someone that could, that could proportion your assets properly, you know, in retirement, Jim, you, you need to have some money in the market.
That's your goal. When you want some money in the market, that's, you know, or if you don't want it in your checking and savings account, I'm a big proponent of that. But be able to have the comprehensive plan, Jim, and understand how to put certain assets away to where you could be confident in every single corner of the retirement side.
[00:53:10] Speaker A: You know, you said something in there very important.
It was, it harkens back to the days when I was in first grade. My first grade teacher, Mrs. Stoner, once said this as well. She said, math is everywhere in life and boy, is that true. So let me ask you this. With your background in math, how do you take the mathematics from everything that you've accumulated helping out pre retirees? How do you apply those formulas, all that math, mathematics, all those mathematics to helping pre retirees and set up their portfolio for success?
[00:53:46] Speaker C: Yeah, I think it starts with statistics, you know, and back in, back in school, you know, Dr. Wayne Wright, she's, she was a statistics teacher and you know, she was probably one of my biggest mentors throughout college because she knew the, the how to, how to really, I guess, interpret things and statistics are so important because I can, I, I do it every, I, I catch myself every day, right, thinking about probabilities and why probability is so important is, is because in the market that, that's, that's, that's all the market is. If you're, if you're a day trader, if you're a pattern trader or, or if you're, you're weighing dead down the road, you tell yourself what's the probability that the market goes up on this time frame, right? Or what's probability that the market or a certain stock rebounds on this time frame, right? And you take inferences and then you're able to take, you know, justifications and justify and be confident about something, right? On confidence intervals and statistics. So it starts with statistics. It really does for me. And when you sit down with a client and you say, hey, you know, let's, let's give me an example.
A client says, hey, David, I want to, I want to go take a trip every year, right? But I only want to use 25% of my income, okay, well now I can say I can sit down and actually take those percentages, which is all statistics, and be able to map them out, right? And plan accordingly on what the client's goals are and needs are. Hey, David, I want this much liquid. Okay, well, we know that this has a proven rate of this, and we can sit down and have a comprehensive plan because I have that number, right? So statistics go a long way, Right? And I think a lot of people misinterpret, you know, the finance for, you know, really, I guess compound growth finance is not comp. When you look at the stock market, you're not compounding anything unless you're having two years in a row, right? You're reverse compounding, too.
[00:55:52] Speaker D: Okay.
[00:55:53] Speaker C: I always ask that question too. It's like, well, if I have. If I have three good years, okay. And if I have three bad years, all right, well, what if I have two good years and one bad year? What if I have one year? My first two years are 10% and 10% and my third year's negative 10%.
[00:56:11] Speaker D: Okay?
[00:56:12] Speaker C: If you take all those numbers and divide by three, right. You're going to get a 3.33. That's the average rate of return. That is not what your average rate of return is actually going to be compounded. So math and finance are nowhere near the same thing. And I think that's what retirement, the switch up, right? Because people aren't taking money out or they're not dealing with the bottom years down the road. They're waiting.
When you get to that point, the math and the statistics have to come into play, and especially when you're planning for income, right? Because then your probability, you have a shorter time frame. So your probability that the market goes up gets a little lower because you can't, I can almost say 99% of the time the market goes up in 20 years.
Now, Jim, can I say that for five to 10 years, you don't know. The dead decade shows that.
[00:57:05] Speaker D: Right? Right.
[00:57:07] Speaker C: So again, though, you look at the dead decade from 2000 to now, you say, oh, yeah, it went up. Okay, awesome. But did it really go up in that short time? In that short time frame? No, it didn't. So that's where you really have to use probability and statistics down the road. And I think that, you know, if when you guys call me and we sit down and we go over things and we go over a comprehensive plan, that's the number one thing that you're going to see me doing is really looking at things and making sure. Because statistics is what is going to help you understand your retirement. Not just me. I think a lot of financial advisors out there just tell, you know, the clients, I've got this, I've got this. Don't worry about it. You just, you just, you know, ask me, ask me for money when you want.
Guys, I can't tell you how important it is for you to understand your math, your numbers, your finances. You need to know where your money is and why it's there and it'll all make sense.
[00:58:00] Speaker D: Right.
[00:58:00] Speaker C: But for you to just say they've done really well for me. Well, I hope so. The market's been up a crazy amount in the past five years. I mean, Jim, right? Yeah, shoot. I mean, myself, I had a 30% return last year. I'm like, I, I, I don't blame you for liking your broker, but I'm sorry to tell you, you could throw a penny at the market and make money.
[00:58:21] Speaker A: Yeah.
[00:58:22] Speaker D: Right.
[00:58:22] Speaker C: So you've got to really assess how, now that you've made that money, how to use it and capitalize those gains.
[00:58:29] Speaker A: And I side Sidebar Side note. I would like to thank Mrs. Stoner and Mrs. Wainwright for shaping the great minds of Jim Taraboki and David Pipes today on the retirement pipeline.
Well, David, before we great show here today, before we exit, do you have anything that you'd like to tell our listeners? Share with our listeners? Again, reach out to David and Steve. Steve has an abundance of experience.
David, while a little bit younger, has great hair, great smile, handsome guy, but also uses math statistics and has put together a really nice career as a retirement planning specialist in the short time that he's been been do actually, I shouldn't really say short time. You've been doing this for a pretty long time at this point. But nonetheless, you are a little bit young.
[00:59:13] Speaker C: It feels like, it feels like a long time, man. Feels like a lot you deal with, you deal with a lot of retirees and you feel like sometimes you're that age. I mean, I'm serious, you know, because now it's got me planning accordingly and everything else. And, but no, if there's one thing I have to say, guys, I mean, when you meet me and Steve, you guys will, guys will totally understand.
I mean the down to earth part and the understanding your goals is the most important thing.
You know, you're going to come in and we're going to sit down and we'll go over some things. But you know, I think the coolest part is the relationship building, you know, and to be able to have someone and to be able to build that relationship. You know, I've, I've got clients, clients everywhere in our area that I, that I know personally, you know, so to be able to also you know, make an impact. And that that word is so big for me because coming into this business, I write it up on my wall every day. You know, my goal is to create an impact on their retirement cycle. So if you have any questions at all, and I know there's questions out there everywhere, please call us. Please set up an appointment. I mean, you know, it's a 30 minute consultation. We go over things. I'm sure we can help you out. There's a lot of things going on, but if not, I mean, worst case scenario is you get some knowledge and you meet some cool people. So.
[01:00:26] Speaker A: All right, well, thank you for joining us everybody today. We really appreciate it. And if you missed any part of today's show, subscribe to the podcast Retirement Planning Pipeline on Apple, Spotify or wherever you get your podcasts. Visit the website Schedule that free no obligation consultation now retirementplanningpipeline.com and we will talk to you all next Sunday right here on Newsradio, 710W.
Have a great week, everybody.
[01:00:49] Speaker B: Thanks for listening to this week's episode of the Retirement Planning Pipeline, the show that helps you take control of your financial future. Whether you're five years from retirement or just getting started, retirement planning specialists David Pipes and Steve Zarek have the strategies, tools and experience to help you make the most of your nest egg. Take control of your financial future and get started today by visiting retirementplanningpipeline.com and if you missed any part of the show today or want to catch up on past episodes, be sure to subscribe to the Retirement Planning Pipeline wherever you get your podcasts.
Not affiliated with the United States Government, Amerilife agents do not offer tax, legal or investment advice. Consult with your tax advisor or attorney regarding specific situations. Opinions expressed are subject to change without notice. These opinions are not intended as investment advice, nor do they predict future performance of any product. All information provided is believed to be from reliable sources. However, we make no representation or warranty as to the accuracy of any statement. This information is intended to be educational in nature and does not provide a guarantee or specific result. All copyrights and trademarks are the property of the respective owners. Amerilife assumes no responsibility or liability for the content of of this message. The information contained herein is provided on an as is basis with no guarantees of completeness, accuracy, usefulness, timeliness, or the results obtained from the use of this information. Charles David Pipes and Stephen Zarek are individually licensed and appointed agents. Learn more at retirementplanningpipeline.
[01:02:18] Speaker C: Com.
