Mar 4, 2017|
Common Sense Retirement Planning
Automatically Generated Transcript (may not be 100% accurate)
Well good morning how are you welcome to comment since retirement planning I'm Tony deal with Mike. Best friend and business partner Philip Allen of comments and retirement planning and often we have one of our other common sense retirement team members on the show with this but the day is like the good old is just just. The boy does good old days does the boys. I so I think. What to Rebecca is doing a seminar with friends are into is he doing in a conference and she's doing is turning our right to him. I'm now our program. If you have never heard it is a little different and there are a lot of programs out there that are calling themselves retirement. Planning programs or whatever. And frankly they're basically just in commercials now we certainly much to come seniors and obviously we would. Do this in in try to encourage people come CS but we've always believed if you listen to talk radio because you wanna be informed about things. And you want information in and and some entertainment so we try to run is more like a talk show. Then an infomercial. And as we are the upstage original retirement planning show we've been doing this for. Almost eleven against. Long time. And so it's worked well for us and for our clients so we'll try to give you. The lay of the land out here on the economy and and probably some things you do you don't know what our goal. As with pretty much all of talk radio really. Is to be the alternative to the mainstream press our case it's the mainstream financial press. Now having said all of at. Philip and I and all our shores is we are securities license then and we do what we do through capital investment group member of Famer and sick again. Dell we. Are going to say some things that might prompt you to wanna make some changes don't go do anything. Because something we said. Prompted you to do it. We don't want you to do that we want you to come and see us and help us to guide you into doing what might be right for you but it just making rash decision and because we say something on the radio is not a good thing so keep that in mind. Also we have always. Put the preeminent position of god and lowered. At the forefront of whatever we do and because of that. We always start with something from the Bible. And of course the Bible teaches us that we should be good stewards are reminding them not to worship or money. And the apostle Paul told his apprentice Timothy. In first Timothy 69 through ten and he said those. Who want to get rich. Fallen the temptation and a trap and into many foolish and harmful desires that plunge people into ruin and destruction. He says for the love of money is a root of all kinds of evil. Some people eager for money have wondered from the face. And pierced them sales with many Greece. It's interesting because a mine to Isaacs right and what you do is for this is actually proverbs 234. Don't Wear yourself out trying to get rich. BYU seem to know. When to quit. And in thirteen Landis says whoever gathers money little by little makes it grow. We're both big fans of of that approach and right now we see an awful lot of it rational. Emotional decisions being made on Wall Street which of course this week at another all time high. People jumping in just really the absolute worst possible time to be getting into the market at the top like it's. So we encourage people to be safe in fact. That is by definition what we do you retire planning is about safe money strategies not risk. Money strategies and there is a huge difference. I ran across something. That I really want to share with you because this is something that really is not getting a lot of traction in the wider price and I think it should be gaining a tremendous amount and I'll preface this by saying. That our own pension system in South Carolina is underfunded by twenty billion dollars they're pulling their hair out too down there in Columbia. Trying to figure out what to do about it while the same time of course figuring out how to charges more gasoline taxes so they can you leatherman can bills more approach to know we're in Florence but that's another scrimmage. But I want you to listen closely to what am I share with you this story. From the New York Daily News. Headline New York Teamsters pension becomes the first two run out of money. As experts warn pension tsunami. Is coming. The former truck drivers who had their pension benefits slashed. And now find out from the pension benefit guarantee corporation. That they have officially. Forced. To step in and take over payments to retirees at local 77. One of the team. People there rude I any union job thirty years. Everyone told us don't worry every union jobs your pensions guaranteed although he's probably been sent elect is everyone told us and all lol you got the alien jobs pensions guaranteed don't worry. It's a nightmare. The Teamsters 707 in the other teams to pension boards attempted to submit plans. It would have cut benefits earlier to prolong the payments to retirees but those plans were universally rejected by the Obama. Administration. Better that the payments just run out of cash completely according to himself the Obama administration. Was in denial about the necessity of cutting pension benefits and now as a result of all this they're having to cut them dramatic. And while local 707. Was the first one to dry up it is not the last also on the brink are pensions of to teamster local 641 and 516 New Jersey. The bigger than all of dole who's. Is the central states pension fund. Another looming financial disaster that could leave 407000. Retirees without pensions. Across the midwest himself. Under the maximum benefits from the pension benefit guarantee corporation many former Teamsters. Has seen their retirement chicks slashed by two birds. So in one example from 3500 to 2000. A month. And there are currently 200 other plans on track for insolvency. There's going to affect anywhere from one and a half to two million people. And it isn't just private sector industries either that are suffering. Municipal and state plants are the next to go down that is a pinch in tsunami that is coming. In many states those defined benefit plans are seriously underfunded and at the end of the day math trumps statutes and of course south Carolina's amongst them. I bring this up. For a couple of reasons Philip and I both were seen. An enormous. Increase in the number of people who are getting pension buyout offer from their companies Michelin. For. TEP. W among them. So they're telling their older workers. Hey here's here's your option take this pension. You can have a whole lot some and go do something else with it now why are they doing. While doing two reasons. The first is they're trying to get younger cheaper war force in place and get rid of the higher cost in older employees so it's sort of an early retirement incentive. But another and more important reason is they see what's coming. They saw what happened in the 70s the eastern airlines and their companies went bankrupt and they're seeing the same sort of thing I'm reading do you their pension. Experts in their companies are well aware of these things. So here is what I want to encourage you to do. First if you do have an old pension and you can possibly get your hands on the lump sum. We can show you way to take that. Put into an instrument. That behaves. In a similar way to a pension in that it too would supply you with a guaranteed income blood. Unlike a pension. As far more safeguards. Behind it. And supply should not just with an income for yourself. But an income for you and a spouse should you want to. And secondly. Unlike a pension which is locked in a whatever the payment is forever. You have the opportunity to get raises in your income based on who increases in whatever the the investments in sight of this plan are doing so for example let's just say you've got a 4% rate return this year and you're taking is income. You'd be getting a 4% raise the following year. Engines don't do that. And of course because with a pinch and you have a newly ties to given your principal way he went to eternal net income. Agents also don't have death benefits meaning that when you pass away. Yes it is all she wrote and if any money was left in their pension would stay appear within the company earned pension plan. Where is this. Plan that we put together forty who actually has a death benefits richer passing Marcia should actually passing the last couple. Whatever's left will go to your heirs and we. Help him taking in the most tax efficient way possible. We shall Matta not have to go through probate. Out too stretched these especially good with IRAs so that they don't get it with a big lump sum tax payment. So all of these things. Our reasons that you should go to common sense retirement planning a website by the way is. CS RP got in posting for comments and which are planning CS RP data info call us a feel like 800. 6876768. No matter how you do it. Before this hits the fan and the fan is on high don't be standing in front of the fans come see us now. Tony was talking about pension problems across the country week we get articles constantly talking about this unsolvable. Math problem. The problem with pensions. Our that they can't print money like the US government. The only reason the US government is solve our right now as it's printed twenty trillion dollars of day it. And that those chickens will come home to roost in the way that comes home rouge usually is in the form of inflation. But pensions can do that it. And they are required to keep these reserves and we have so many of these pensions that are underfunded. Having a talk about whether you should take your pension now or later is something that's very important and we have to pit opinion paper and it's a math problem a lot of times but a lot of times it's not. When you go to your CPA generally all they are considering his how to avoid taxes avoid taxes and not eliminate taxes but just put them off delay defer delayed if her. And a lot of times that and says walls don't take your pension till the very last minute you know don't take. And that means saying you have to have the underlying assumption. That that pensioners and on a pay everything that is say as it's gonna pay. You know I bet you these people that the Teamsters are getting a third of what they thought they would a year. If they had the opportunity teen years to go and take it and were written it off because they were not warning that. Have a tax burden which is looking back on they would lose you know burden hands or two in the bush. A lot of times I think is sometimes it would be better to take their money pay the taxes now we know what they are. Rather than putted off when there's no telling and resident video off of pension that you don't know for sure is going to be there down the road. Dan if you do you have any kind of lifetime income guarantees like Tony was saying make sure. That is a company or it's an instrument that has real guarantees behind them thing you have Tate Taylor. Instrument that we use and the is not 60% funded but it is 200%. Funded the solvency ratio. And you have to look at those kind of things but they're so many. Areas that you need to look at before you make this decision. It's not one you should just take lightly or make on your own. You need to give us a call at 1806876768180687676. Say. Look this up at CS RP dot info. Or common sense retirement planning dot com. Age it just I know that did that says this week common sense retirement planning Rebecca and Phil and friend tar and and was there. Did a big seminar over at Michelin and Michelin is one of the companies that are that are doing a lot of these early retirements I was meeting this week with the actually. Fellow that was had been offered. A buyout Torre had a pension in a 41 K and all of this. And it's it's amazing a lot of people don't understand that we've you have a pension. You have one of the options you have if you take this is that you roll this into an IRA. And there isn't a tax cuts which are just rolling from one thing to another. You can take in come from and now. And of course you pay taxes on which it now. But a lot of times people don't a lot of there there are also people who say wanna let this it and grow for awhile so that when I do begin to take payments out of that it will be a much larger. Payment at that time. The most people don't know what their options are and another thing I ran across this week you guys actually call a pain is kind of mad. He I don't know what kind couldn't place this accent it was odd. Usually get a dial XP Albanian it was weird it was I mean he listened to our show and he was all upset. He was fifty years old and had a 401K and he wanted to roll it out there and come talk about rolling it into a somewhat of our plans are so why we can't help you do that because you're not 59 and a half we would comment well that's just misleading you can do so I want to be very clear here we've talked a lot about what are called in the service rollovers. When you hit 59 and a half most companies will allow you to take everything that has built up in your 401K which of course is a risk portfolio remember in most cases. Stocks and bonds total eternal that. And moved at roll it over into an IRA which using control. And we can put it into one of these instruments that we talk about all the time where you cannot lose money markets go down where you can make money when they go out. Where you get guaranteed income strange for a life with races and a death benefit that's that's. A much safer better way to go than just taking risk and a typical stock and bond portfolios such usually have a 41 K but. You have to be 59 enhanced to do that so I want if you are under 59 and a half. Calling me your Phillip or one of our team in and saying I wanna come see you and talk about these were not going to be able to help you do it. Now if you believe your employment. And you moved to another job then of course you can roll your older 41 K over and you should. In most instances but nonetheless I just wanted to make it very very clear. And if you have any questions about the social things particularly 59 and a half inch or troll yeah this is a this is an ideal time to be doing this. Please go to its common sense retirement planning again our website CS RP stands for comment and retirement planning CE SRP. Dot info. Make an appointment doesn't cost you anything. Come cius and we will ask questions or about you and put together a plan that we think workforce. And Tony citizen excellent time to come and talk to us the reasoning as you see these. The Dow the new. The S and the talk about all time highs and as air clients know what we believe in something called annual recess investing. We believe that we should lock in gains on an annual basis. But if you're getting close to retirement. The five years before retirement in the five years after retirement are very very critical it's almost like when a plane is landing or taking off. That's the most critical time because you don't have any altitude at that point mistakes are magnified. At that point a mistake you know up. An engine that has a problem at 30000 feet. Could be you know a big problem which you have that same problem and a hundred feet and you've got a disaster. Waiting to happen the same thing with retirement the five years before retirement in the five years afterwards. If you experience a huge drop in the market. Right as you go into retirement in yearn for portfolio of unprotected stocks and bonds you can completely destroy your retirement. So why Tony saying is an excellent time you have the opportunity now to come in and talk to us. And possibly locking in those gains and then from here on out blocking gains on an annual basis. But. What you have with your 401K. Is a situation where you worried about well off had a real good run since 2008. But I'm worried that he knows who the next year may take it all away because you cannot lock in those games unless you do something. And they usually don't have those options inside the 401K so if you're 59 and a half. And do have an option you need to come and see what those options are and one of the big things of people are herb. Unaware they use they say look are really wanna get my match. But calls it I agree with you it's very important especially the older you get that match is very important. But about doing a 59 and a half in search roll over the definition of a 59 and a half in search roll over is that you can continue to contribute to your existing 401K. Is gesture lump sum has been moved out to our. IRA with. There's no tax consequences on moving it to NRA and the and you can continue to convey S future match but you have so many. More and better options outside the 401K generally so. Give us a call 1806876768180687676. Say. Or look us up CS RP dot info. Phil this week uniting. And America witnessed what I think is one of the most impressive. Presidential. Speeches before congress sir I guess in my lifetime I would I'd have to say the speech Saddam prompting this week. Was. As good as anything I heard Ronald Reagan. And other us as saying some. And so but and I am all for him and I ain't I pray for him every day. Debt that is planned. Works but he is getting enormous opposition and and I have to say this. Has inherited the worst economy. Since World War II worse far then what Ronald Reagan. Inherited and these are just some headlines. That I have from this week. On Wednesday defended. Dropped estimates for gross domestic product. Atlanta fed to one point eight JPMorgan at one point 5% Bank of America sees only one point three. So we have that would mean we have we are still continuing with a sub 3%. GDP and means that we our economy is not only on growing its shrinking. Secondly. We have to look at the fact that throughout the world. Bonds have been crashing because even though the stock market the bond side skating just absolutely hammered. And even though after us Trump's speech three in four Americans approved of his address 75%. As disturbing. At the same time US construction spending tumbled. The most since two when he came action manufacturing. Is far from booming PMI orders from dropped despised. Hopes that they would not. China warns is a big China warns it must reallocate half a million unemployed workers. So. Imagine this picture here here's Donald front. He gets elected president. He walks in and there's a car rolling backwards down he'll. He's talks. Catch the car stop it from going backwards pushing up the hill get it to the top so eventually it goes down the other side. While on either side of Donald Trump peep Porsche Cust naming young men throwing rocks and bottles and in the whole time next. The economy that's the economic situation he's in the reason we say this. These people are being full right now looking at the Dowell in his record thinking that's the economy isn't. And at some point that's gonna hit the wall. You do not want that to happen to your 401K. You don't want to be any risk portfolio when the market is so perilously high. And so vulnerable to a crash. We are the safe money guys week comments and for our planning are the regional. Upstate retirement planners. We've been helping people not lose money and showing how to make it during upswing in the markets now for years and years. And we can do the same for you and will but we only do if you get hold of us. So please go to CS RP dot info. Or call 806876768. Days so musical. And coming seeks. Got an article here from David Stockman. And he said what's going on in today's. Wall Street is complete insanity. Said the market is apparently pricing and a huge trump stimulus. But if you just look at the real world out there like Tony say is the only thing that's going to happen as a physical blood laugh and the White House train ray. Like never before in US history now they're going. I think a lot of people are counting on this to happen and blame it on trop even though the lists only say the car was headed backwards before he took office I'm gonna give you a little bit more this article when we come back but. You have the opportunity right now if you if your eyes are wide open and say look. If it's the highest in history wouldn't be a good time to lock in those games is there any way I can block in my gains. And to do that you have to be proactive this and there's not little locking your gains just by wishing it you have to give us a column we don't want you to do any thing. Unless we see your particular financial situation and we tailor make a planned it's perfect for you. And you have to coming in NC has to do that to give us a call it's 180687676. Say. 1800. From 687676. Say he don't look us up on the web common sense retirement planning dot com. Or CS RP dot info. Will be back with more news and articles after the break. CM a man. Welcome back to common sense retirement planning this is Philip Allen with Tony dale we your alternative to the mainstream financial press. And a common sense retirement planning. Everything we do is pair securities are offered through capitol investment group member Finneran and sit it. We don't want you to do any thing. With your portfolio or your money from what you hear on the radio. Because we don't know your specific situation. And what we'd like to do this for you to give us a call we do want the showed to motivate you to call and talked a us about all the way east to have successful retirement planning. And when you coming and we can look at your particular situation and we can tailor make a portfolio. For use that major requirement. But. There's so many do everything is different for every different individual that comes in. And we want to tailor make that 440 Lou specifically. For ye. We pay common sense retirement planning we want you to understand. That this decision is decision you don't need to get wrong. The result if you do get it wrong is somewhere between now on the time you pass away your gonna run out of money. In retirement and that is something that statistically. When they've had these. Different evaluations. Of retirees retiree said that they were more afraid of dying than they weren't running out of money. Well the thing about it is the traditional. Way of going into retirement a 6040. Stock and bond portfolio. 4% rule you take 4% out every year has not been working since 2000 the calls of the dramatic volatility that we've seen in the market in 2001 into. In 2008 and what looks like it's coming again. I don't know what we call the next crash Downey was all of they'll call the trump crash our culture and our press the way are well. When it comes EU need to be out of this one especially if you're in the five years before the five years after. Retirement you know the stock market has a way of a surprising yes I heard about. I don't know if if the people not asking count to three in Spanish bay and its. I had this. You know someone asked me about this and said they saw Mexican. Illusionist and magician here this crowd mesmerized. And he said when he cannon to three. He was gonna disappear. So there are all waiting news no. Dogs. Whom he was golf. Without a Trace. I don't know. Wait you mean you gain you great idea I think this can be part of the trump platform. Do you think if we all collectively did dad all of the illegal aliens would all disappear when we got ghost. I think so I'd like to try and without a Trace without a Trace I would like to. That's actually that the possibilities. That being say what you are at that. And what you don't want to happen. Is for all of a sudden you start seeing. Your portfolio. In south end but in if you understand how money works and if you're taking a 4% withdraw. And you start out with 500000. On a 4% withdraw now it's down to 250000. In your taking a 4% Woodrow. It's like uno DOS boom it's gone without a Trace. And you have to understand that sure retirement that money that she saved is a financial engine. What's been paying the meals what are engine has been paying the bills the last thirty years is may need Euro the financial engine. You go to work every day they gave you a paycheck every day and so you've been the engine but when you retire you have to switch engines. What's the engine now that sure retirement savings. And watch you do with that engine. One main whether you'll have money in the later years of retirement. Tony where news we dug away all we built a new house and a whale. And when they were talking about the pompous but down that way Owens a major thing and I'm not very mechanic. He said you want you know lose today is there's inexpensive bombs and there's expensive pumps. And I got to thinking about what it took to pull that pump out of that whale and replace it in this kind of thing and acid bullet go ahead and buy the best pump available to go on that whale calls I want that thing to last for twenty years I don't want to pull that thing out. Well what is it Tomei said look we're gonna put upon down in this well. And as long as it pumps water you're gonna have watered during fill up but when it fails no more water for you know. I told to look let's go find the greatest pop ever created on the face here yeah. When you retire you need to be have the kind of guarantees we won't the greatest retirement plan while we won't guarantees that you Kane out only of that money. We don't want a bunching yeses. We don't want a but there's. We won't guarantees. Not yeses McCall's EU running out of money. In retirement is just un acceptable to the average person. It appears something that's coming that a lot of people are not factoring in night I talk about this lot and knowing do. Please the approaching silver tsunami of demographics. I am one of these people I am kind of leaning into this maybe due weight so to here's here's the setup. After World War II. A whole bunch of us Scott born soldiers came home and they were pretty lonely and they kept busy work and in a pretty much at all a bunch of kids and they call us baby boomers now. And I are both baby boomers went. Well it just so happens that beginning. In this year when he seventeen. And by the way right now roughly ten trillion dollars sitting in tax deferred accounts diaries forum and case so well. These are tax deferred instruments. So that when our bunch of Americans who were turning seventy and half this year. And they have until April the following year to make withdrawals. Or face penalties are going to begin to withdraw. A lot of money. There are 75. Million boomers into when he fifteen. Now we are hitting my our generation retirement age right now on almost 101000 per day. So I want you to visualize this 'cause it's a pretty simple dynamic creek and I can if you come cius will show either chart fascinating NC. We baby boomers when they created for one case diaries. Created the biggest bull market that ever happened in history from. 1982 to 2018. Year run. The market shot up 141%. There were years where we get 20/20 21 years three through more than 33% annual rate return. Which by the way is like Alan Greenspan in the late nineties was screaming please stop this this is irrational exuberance but anyway. But the what what created and it wasn't that we did we reinvented the wheel or figured and had a term water and gasoline or something it was because. Author of the population essentially was all investing in these mutual funds because we we were moving from the pension based approach. Which had been in place for retirement. Prior to the early seventies into these new defined contribution 41 K irate approach. Well. For every action there's an equal and opposite reaction Newton's third law of motion. Meaning that is our generation now begins the process of withdrawing money which we are going to be forced to do by the IRS at seven and a half required minimum distribution. As we began to G accumulate instead of up accumulate which is what created the biggest bull market in history. We're going to see a reversal of this and it is going to take fifteen years or better four to play out. And over that time we as a generation are going to withdraw brilliant what ten trillion dollars. And at the same time that's going on the generations behind this Generation X. millennial and so forth. Are injuring no an economy in the United States this the worst since World War II gross domestic product as I mentioned earlier never gotten over 2% for the last eight years. That does not bode well. For those taking withdrawals if the market crashes because think of it if you're doing what most. Have you been told to do which you've got this portfolio stocks and bonds were troop was talking about. And you just start taken a 4% withdrawal. And the market crashes while everybody's taken their money out and there's no dynamism to create its upward movement at. If that cycle shifts in other words. And you're taking withdrawals. There's going to come a point where the money is gone occasion reading through principled. There's the losses occur and leisure withdrawing money both at the same time. All we can show you away. To take those assets. Locked them in. At whatever high point they are now. And from that point four note several things. Number one that no matter what happens in the market. You will not lose any money in the market. We build some 20 stop loss and August that's why they call us the safe money guys. The number two. During periods when markets go up. You have the opportunity to make reasonable rate of return on the outside of it. But the most important point of our plan is the income part of it. A guaranteed. Stream of income and are like an old annuity. We give up your principal under no death benefit and you get no raises. Here. It's a guaranteed income for life it's for a husband and a wife should you choose to do it that way. You get raises every time you get gain. And there is a death benefit and surpass the passing of the last. Two whomever you leave it to. That is the type of instrument that is going to get you through twenty or thirty years retirement without running out of income. But there will be a lot of people caught unaware of what is coming so don't let that be you. Now. B what's the proof of the match for one of my favorite robbers are prudent man for sees evil coming in hides himself. The nineteenth proceed. Suffer. Do not do that. Police while you have time. Come and see X doesn't cost you anything we Sudan we just ask questions. We put together a plan for you nice booklet and should we got all laid out we go over and show you how much income you can expect in that sort of thing. And we do not pressuring you to do it we give you the book we give you explanations of the plan. And then you make a decision and it's you don't. Make a decision to do it that way you we don't call people up and harangued them and try to get him to twist their arms and so we just don't do that we don't have to do yet. So please go to. Comment since retirement planning our website it is CS. RP dot info hoop. Make an appointment one of our common touch retirement planning team members will meet with you we will construct something for you. And if you do it you'll for the first time may be in your life and what feels like they have complete peace of mind that your retirement. One of the things Tony and I talked to our clients sometimes about. Tony now believe that she should go into retirement and had your. Primary live and expenses your you know the your basic living expenses covered with a guaranteed money. Anything above that can be a risk portfolio. And for risk portfolio you know one of the things we talk about some as we have. We have a very specific fund called total income real estate funds. And this total income real estate fund is very unusual is not a real estate investment trust it's a mutual fund that's made up of real estate investment trust in very special real estate investment trust. Low leveraged. Institutional private equity real estate. In most of those drills if you got into those real estate investment trust on your own without going through the mutual fund the minimums are. Five million in May in dollars but. Because of the way that we do it you have daily you have quarterly liquidity. And because of the low leverage situation is there less susceptible to interest rate risk things like that that. You say we we enjoyed talking to people about you know taking some risk with money above their basic living expenses. But what we found so much as people are taking. Enormous risk with every bit as they're mining and their basic living expenses were freighter gonna Miette zero. Now. I was thinking and Tony one does it scare people so much today begin to zero. Run out of money and I think one of the biggest reason I've learned over the last year my dad dad he passed away in a nursing home. And I appreciate those people so much for taking such good care of your. But you know they told me in the nursing home that 80% on average of those people don't get a visit from anybody. We've got a different kind of culture and our world and you know what happened when. Mum Harmon that my mom and dad ran out of money basically the time they. They had. You know they used to borrow money to give it away within have a lot of retirement savings but their fans they knew their family would take care of them. And in the old days family would take care of people but what happens now I have people congratulate me for. Taking care of my mom and they announce a congratulating us the ten commandments. And but now these people are worried they're gonna run out of money and guess who's going to be in charge you the government. Boy that's gonna work out well I'm worried that the leading calls a day if when I'm ninety years old as a nurse but the needle in my arms hell's you know. Didn't pass the death panel you know or whatever but those are the kind of things people worry about because they don't have those close family ties they don't think. That they're going to be taking care of and in on top of that we don't have some kind of state he conned me where you can go get a 5% CD or 5% treasury note for thirty years we've got this incredible. Roller coaster Wall Street. And any it not only are people worried about their running out of money but the process of running out money's gonna be a night mayor. On the way down. I really appreciate people when they come to me and they say Filipino after talking with you and Tony and working with you the past fifteen years or whatever. We just don't worry about their money anymore what's that worth. Having you know peace of mind in retirement if you like to know how to achieve that you give us a call 1800. 687676. Or 8180687676. Say horse CS RP dot info. As I have gotten older I have gotten wiser. That's hopefully what happens all of us as we age and frequently sad to say. Most of their wisdom as a direct result of mistakes I have made that some pretty much how to getting the wisdom occurs. And therefore I you like to look at what people who've lived. Through some amazing things have to say one of those guys and you mentioned him earlier David Stockman who of course was Ronald Reagan's. The guys that really was his senior white house budget director helped. Kraft is planned. Listen to his. Perspective here. It's pretty pretty. Pretty scary. He says. Financial pain it is coming using mathematical certainty. We are likely to have more of a fiscal bloodbath resident in fiscal stimulus and unfortunately for Donald Trump. They left on his doorstep and inheritance of thirty years of debt deal and a fiscal policy has been. Reckless in the extreme trump is inheriting a mask. It makes. Insignificant. But we had to deal which in January of 1981 when I joined the Reagan White House is budget correct. This is the greatest suckers rally he's talking about Wall Street here of all time. Based on pure hopi and not on any analyses at all. As to what it would take to push through B tax cuts and so forth. We are now at twenty trillion dollars of debt that's a 106% of GDP in trump is inheriting a built in deficit of ten trillion dollars. Now listen this this is a point he wants to make in this is something you better marked this date on your calendar. I think what people are missing is the date of march 15 27 team. As the day. That this debt ceiling holiday that Obama and Boehner put together right before the last election in October 2015. And that is going to expire. And the treasury will have roughly 200 billion in cash. And we are burning cash at 75 billion a month. So that by summer. They won't be out of cash. And then we will be in the mother of all debt ceiling crises. And everything will grind to a halt. It will now be obamacare. Errol to any goes on probably my point in sharing this with few days. This rally in the market that has been going on. When this reality. Begins. To see again. To our consciousness in the United States we realized just how bad situation is and we will he can't hide it forever. Under these faults all the markets 21000. There are so many elements. Josh Paul placed to bring that market down. And with it. All of your hopes and all of your dreams about it happy retirement. Because if you take a hit at that stage in your life. You debts of those are permanent losses you do not have time you will not have time to make them up furthermore. The long term prospects opening of an X sustained bull market run up again and our. Slim to none. So there are no maybe not in your lifetime has there been a bit are more important time for you to do something about. Securing all of this you've saved your stature I think about it. You've spent your whole life doing the saving what you there it is all you have. It is going to have to last you what twenty years thirty years from major gonna have a long term care expenses may be an expected staff may be. Like to take cruise. You know you have a dream about how you like to live in retirement which you don't wanna live. In quiet desperation because your principal is shrinking away with market losses while you're busy taking 4% in the bing you're thinking maybe addict I can take for a better new 2% this year. And cut back at I think the way to do it. The way to do it is take what you have now. Let her show you have to. Protect it from lost let me show you how to turn it into a guaranteed income string for a life form a two people for a spouses. How to kick gained when markets go without suffering any losses at all when they crash. And then get guaranteed it. Ended how to leave this whatever is left to passing. To your beneficiaries in the most efficient way. That's called retirement planning it is a very different thing been. Investment plan which is your just your total portfolio 6040 that same thing all those guys on Wall Street Blair bring you about. The fireworks really great when you're thirty and forty years old in the markets going up. It is did death and LT retirement. If that happens if you're doing that in a market crashes in your taken income should do not let this happen to you to date. Go to. Our comments and retirement planning website of some interesting stuff on there CE SRP. Dot info again CE SRP. Dot info please come CS. All move blue ridge parkway are on the way to the blue ridge parkway. It's a fun trip behead at a grain really had a traveler Tricia got through Caesars hated. And now O Tony has a Porsche panda marriage GTS in that thing just hugs to roadblock on rails and when they say lack on rails I mean it feels like you're on rails I mean you can Yoram curves. You know it nine miles an hour you don't he has wouldn't believe it but you go up to the seizures pay in the new hit after bargaining got blue reach parkway and he's nothing like. Meehan on the blue ridge parkway in her in a car like that. Well he if you hit south you'll get come to a place called graveyard feels and then you'll see a SaaS has black balsam. And you go out to black balsam and right up there is what's called a shining rock wilderness. And that's where we go to update blueberries that place burn over 125 years ago and only thing that's come back was blueberry bushes and so it's we. JP fourteen gallons of blueberries there one day. But once she get there there's a state road that uses all blogging road and this road has not been improved. In fifty years I've been down that are reviewed and you have a big sign on that road this is not recommended for vehicular traffic. And I haven't I have a Iraq after a four raptor which is is it's pretty good off road vehicle. And my favorite pitchers may stand in there on the Ford rafter with a big sadness that is not recommended for vehicular traffic you know. Tony Sparano Mara was good ride to the point you got to the sinus it not recommended. Vehicular traffic. So why are you telling me this. You say I believe there's warning signs flashing all over this there's big signs say not recommended for traditional. Financial plans. Air future. Air future is going to be a rough one financially. You have to go to a different types of vehicles in plans when you go from the interstate. To the logging roads. Ben Bernanke. From Dillon South Carolina I didn't out ya I think Matt Dillon on those of sound await a Myrtle Beach okay. He said that he permit ended the last the next Great Depression when they paid all this money. That's all we've still got the same problems and they have no ammunition left. We have this is a fair warning please pay attention to this would you have to Luke. At the kind of vehicles that can handle the rough roads ahead. You can locking your gains. And they hand. Hunkered down for the rough road ahead in order to do that give us a call 180687676. Say. 180687676. Say or CS RP dowdy and. I had started the program today talking about how dire the pension. Crisis is is looming for this country one point seven trillion dollar underfunded pensions in America. South Carolina State pension benefit about twenty billion. The Wall Street Journal did a very interesting piece entitled how to put the pension back into retirement plans and what what they're talking about is prior to this early 70s83%. Of workers had a pension. Well the economy hit the wall back in during the Carter years and so they moved everything to defined contribution 41 case diaries and so forth. Well those have not worked out all that well. So here's what it says what if there were a way to put the pinch and back into your retirement plans. Although many older individuals tend to underestimate their chances of living a long time so they don't take proper precautions about. Out living their assets they don't understand financial concepts and so they're reluctant take unfamiliar financial decisions. And retirement is a once in a lifetime event. And even when they do wish their retirement plans to pay them a lifetime income. Employers have not given them a way to do so do in the typical plan. Annuities are income streams that begin paying out the buyer at some future date. And continue for life they can be a very retroactive attractive thing to retirees wanting. What we feel like he retirement paycheck. Income from annuities. In the these defined contribution plan and would be very attractive thing unfortunately they're not there they article talks about why they should put them in a room there. So they conclude by saying including a weld a sign longevity. Annuities. It makes sense. To put a pension. Back into retirement plans now they're dubbed the article really trying to encourage companies to do this but you can do is sure self. We can show you how. If you come and see yes. And I recommend you do now before. Things get squirrelly. So please. Go to CS RP dot info. Make an appointment. Come CX cost you nothing will take your information and we will craft a retirement plan it's suitable for what you were trying to accomplish we will look at the long term care options we can look at tax. Situations talk about Social Security. Two of the gamut of his what's involved that's what we we hear a worthy of State's original retirement planners we forgotten more about this most these other guys even know. So please go to C is RP. Dot info. And do it this week. God bless you god bless America. I wheels Donald Trump to. We'll see you next week it concentrate our plan.