In your current employer's plan and then all you do is log in and make the changes we'll tell you what to buy what percentages and what funds if you like to see more about it just go to invest Talk dot com Invest Talk dot com and click on the investment stamp from Katie financial and it may be just what you need it. Take am twelve twenty with you where ever you go what are smartphone apps coming to us for it's a service of Salem Media Group. Without star in news I'm Gordon Griffin the medical examiner's office in Washington State has confirmed the identity of a twenty nine year old ground service worker who stole an airplane from Seattle Tacoma International Airport on Friday night Richard Russell was killed when the plane crashed into a sparsely populated area near Seattle authorities are reviewing security measures a Texas grand jury on Thursday indicted a seventeen year old student accused of fatally shooting ten people in May at a Houston area high school under Texas law a capital murder carries an automatic sentence of life in prison with a parole option for those younger than eighteen the teen admitted going on a shooting rampage in Santa Fe high school using his father's pistol and shotgun to burst into the schools our classroom and begin shooting then engage police in a prolonged firefight before finally surrendering that is correspondent Rhonda Rockstro also That's our news dot com fuel price analyst Trilby Lundberg says gasoline prices continue to rise. The average price of gasoline was up to and the new average for regular is to ninety three but probably it will not continue up more likely they'll be some price cutting from here on and truly Lundberg says that's because refiners have increased capacity and current demand is weak Lumbergh says the average price of regular grade gasoline has risen to ninety three nationwide but what you pay may differ in Jackson Mississippi is the low average to fifty three for regular and the highest of concerts go three sixty nine a year after a deadly gathering of extremists in Charlottesville a few dozen white nationalist marched Sunday across from the White House their numbers dwarfed by thousands of counter protesters the events largely peaceful though tense at times in Charlottesville and in Washington were part of a day of speeches vigils and marches marking the anniversary of one of the largest gatherings of a white nationalist in other extremist in a decade this is as our news. I sponsored by Would two G.M. Associates program guessing GREG ROBERTS not affiliated with an Associates information provided for Illustrated purposes only does not constitute investment tax or legal advice information obtained from sources deemed reliable but accuracy and completeness not guaranteed but to Gene associates have no liability for information discuss consult with qualified investment tax or legal professional prior to taking action securities and advisory services offered through United players financial member FINRA S.I.P.C. Associates and United players are not affiliated. Welcome to go to Best and forget about weekly financial news magazine designed to educate any quick you with the roadmap and direction you need to manage your money make your financial goals and instill confidence in your investment choices on the road to retarget your host is author radio commentator and investment advisor Pat patootie of the Tucci and associates with over thirty years experience in the world of finance it is best and plenty that specializes in personal and corporate investment management with special emphasis on retirement plan. As you head down that I way toward financial independence again welcome to another edition of don't invest and forget the program that for twenty five years now is help you better manage your financial life as it relates to retirement planning money management and sound investing your host is author and thirty plus year retirement planning specialist Pat the Tucci and I'm GREG ROBERTS Well you might have missed the birthday party it happened this route spring of this year marking the ninth anniversary of the bull run it is in fact the longest bull run in market history and while some people say time to break out the champagne and celebrate others might say. Maybe we shouldn't do that quite just yet there are a number of signs that are buried deep in the economy that frankly don't often make it to the six O'clock news that look at things like yield curves and inflation and borrowing particularly at the corporate level that begin to paint a different picture a picture that perhaps all of us really need to pay close attention to impact that sooty This is particularly important for people that are well vested in the markets or have money certainly in a for a one K. Or in Iraq and are heading down that stretch toward retirement and concerned that one thing they don't want to ever experience again and that is what happened to many folks back in two thousand and nine Craig this is a wonderful market but we know the Great Recession of two thousand and eight nine and the recession of two thousand and one are still pretty vivid memories most of us were you know still pretty well involved in whatever we were doing and so here we have this giant long run lots of optimism the sun is shining America's C.E.O. Is of bursting with confidence the Business Roundtable surveying C.F.O. Is in C.E.O.'s the perception is is that this is going to go on forever as a financial advisor managing a lot of my clients monies all my clients monies it is a giant trust point it's a concern not to be a downer not to be negative but the pragmatic reality is this too shall end and so is the end coming and I don't mean the end of our world and of our capitalistic system of talking about the end of the longest run in the history of America and a lot of would love to think it's going to go on forever it doesn't a bull market runs that esteem naturally or we have some geo political event to spoke the markets and Wall Street overreact every time and the market will correct ten twenty thirty or like an zero eight zero nine as much as. Fifty percent and so what do you do as John and Mary retiree largely exposed to the stock market if you're fifty or sixty or seventy percent in the stock market what do you do I mean we've got the National Federation of Independent Business people also saying this is this is very nerve racking We've got unemployment numbers at a store close right around four percent as of June of eighteen We've got knock out G.D.P. Numbers the last quarter was four point one percent this is a very frothy market that you can say break out the champagne but wait a minute when the music stops and the champagne stops flowing how prepared are you for correction so lots of issues I want to talk about a couple underlying stealthy issues that I think may rear their ugly head and pop out and all of a sudden Wall Street doesn't like what it sees and the stealth uses become very evident So let's start with one about the trade war now I think President Trump is absolutely correct it's unfair that China is beginning rich and Canada and Mexico for many years charging us twenty five percent to bring our stuff into their economy and we charge them two percent look at our debt issues as a result of that our imbalance of trade so I think the trade war is an important item to correct how much of that will actually impact this Sterling economy that we are enjoying unlike the seasons of the moon of the ocean tides the timing of a business cycle is never easy to predict and guess who the worst predictors are those who call themselves economists economists and starkly miss it just months before I mean out of the last nine recession's they missed nine and nine so those professionals that we think are the smart talking heads on. Business networks miss it every time so you can listen to economists demand is so strong that inflation starts to increase which of course leads central bankers increase interest rates we've already seen that we've had a couple reading creases this year already we'll probably have at least two more for the balance of this year but look at the stock market's been fairly flat this year and that's another very subtle sign when stock prices are rising despite the fact that there have been a pretty good market and let's not forget Trump's tax plan which created a big end protests to the economy corporate America has bought back lots of stock they've used the the savings to buy back stock which of course will ultimately lead to stronger profitability so we've got a situation where stock buybacks and maybe additional R. And D. Research and development as a result of all the bottom line profitability will be further enhance and frankly further extend this wonderful wonderful market I like to watch Ray Dahlia Ray Dalyell as the C.E.O. Of the world's largest hedge funds called Bridge where associates his comment about falling stock prices and other asset prices again is one of those very subtle signs that could portend to be a signal that this euphoric economy that were in May beginning to show some signs of ending the C.B.L. Predicted in May that as wages rise more people who left the labor force would come back to work and yes that's exactly what happened in June so the folks quitting jobs voluntarily and moving to other companies is the highest it's been in many many years and that's again a sign of confidence that the people when they say you know the new economy strong and despite the fact that I have ten. You're in this company I'm feeling pretty good about the economy I'm going to move to another company where I'm going to get a promotion or are more more money when you have a recession you're less likely to jump ship because you if you have base it on tenure you're less likely to get downsized if you're one of the senior people so inflation and interest rates are rising a likely continue to do so cording to the C.B.C. B O We've got a look at this one hundred ten month old expansion it's one hundred ten months old the longest and America if you were a senior viewer Terry and you would now call this economy super Centurion the current growth rate by the way the second longest in one hundred sixty four years but what's a National Bureau of Economic Research has done this analysis it even outlasted the one nine hundred ninety one to two thousand and one the wonderful period that we all enjoyed some really nice expansion of companies and expansion of opportunities in the job market so we look at labor we look at Cavalia We'll look at productivity we know there are more jobs available than people to film there are more jobs available today than people to fill image we just have a a disconnect in terms of talent and skills to fill those jobs the root of the problem is the newer generation of Americans are having less kids right if we're at an all time low last year couple with baby boomers starting to say I'm outta here I'm retiring see a later I'm gone fishing so we've got the boomers retiring and there's less young people to fill those jobs so we've got to understand that that's a serious issue back this past October debitor of Labor Statistics projects that over the period of twenty sixteen to twenty twenty six they'll be eleven point five million jobs created and they'll be a million fewer people to fill those jobs so just in the next couple years we're going to have. A deficit of a million people to fill those eleven point five million jobs of course immigrants account for only seventeen percent of the workforce and we know we've been much more restrictive to present shops policies listen right here in Silicon Valley there's billboards what buy Canada is imploring techies to come to Canada they're in their program is called pivot to Canada we know there's other countries chomping at the bit to get to some more intellectual property we've got some really smart people in the berry and it's interesting some of the silver silver linings that comes with such a such a a great economy how will the trade wars with Canada Europe Mexico China what kind of effect will it have the G.D.P. We've got a twenty trillion dollar a year economy and by all standards the tariffs represent about thirty four billion while those are big numbers it's not going to slow the economy all that much if this thing goes full bore and I think it's going to be a negotiating session and will come to some modicum of of a compromise to make all these countries happy but we can't continue to support all these countries were getting poorer and all these other countries are getting richer that just doesn't make sense so we've got Trump continuing to put pressure on Chinese is just recently he put tariffs on fifty billion dollars of Chinese imports of course China have retaliated with tariffs on a lot of our agricultural goods and so we'll see how this affects G.D.P. But it's that uncertainty that Wall Street does not like and if that uncertainty gets any worse it will start to impact the Dow Jones and that is that which of course are hitting new records almost every week Pat let me jump in at this juncture we're going to take a brief time out come back to more of the conversation if you've just tuned in. It is Don't invest and forget with your host Pat the we're talking about the current state of the markets it's over a nine year old bull run the longest in Wall Street history the question is how long will this continue and what should individual investors be looking for and thinking about to come back to more of our conversation with Pat the two G. On this edition of don't invest and forget right after this. 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To gain more information about any of the topics discussed on today's program or to schedule your appointment for a no obligation financial plan today at one of their offices here you go to the website don't invest in Forget dot com Don't invest in Forget dot com and now don't invest and forget Welcome back to this edition of don't invest and forget on today's program patter to to your host discussing the current state of the bull run and where things potentially at some point could be headed its path the challenger this folks will look only at a single issue and sort of lean on that as an indicator of the health of the economy for example Bill look at Wall Street right now we talk about the G.D.P. And say wow this is amazing look at unemployment but I wonder if maybe the real point here and the challenge for any investor is the tipping point that intersection where trade and tariffs and taxes and inflation and G.D.P. And profits and Bahrain and debt all kind of intersect if there be one major event in any of those arenas that could potentially push everything off the edges is that really the concern here every day we get a collection of conflicting patterns and trends you sit back and look at that analysis and you take the thirty thousand but view and say OK G.D.P. Numbers are important unemployment numbers are important about oil prices I mean we are now a prolific producer of oil the fact that oil is gone up so significantly actually adds to our growth of our G.D.P. Five ten years ago it would have been a death knell our G.D.P. Numbers would have dropped like a rock by here because we have this prolific production of oil now that's actually a positive now and so we've got to take a look at seventy three dollars a barrel on America's corporate balance sheets is actually a plus now so it's always a crag a collection of all these can. Acting numbers and then the talking heads on the business channels evaluate that and come up with some sterling predictions which as I said earlier these economists are largely wrong and so how much of this tax program is there are sustainable long term influence on the market some have suggested it's a year or two stimulus and then the stimulus fades away and we go back to some normal growth but certainly has given this economy a boost maybe pump people have said well we don't really need that boast that kind of you is doing fine but the fact that we are now on par from a corporate tax point of view with other major industrialized countries go from thirty five percent tax bracket to twenty one that really suggests that that will have a long running in my view better impact on the the economy nothing we want to watch as corporate debt corporate debt has been going up ever so slightly over the last couple years that's also a signal that maybe companies are getting a little too over leverage a little too optimistic the borrowing too much money because guess what interest rates are so darn low let's borrow money at three percent for ten years or twenty years to fund a new division a new building a new entity for whatever reason you're borrowing but corporate America has been doing a good job of borrowing and now it's becoming a concern because getting to some higher levels that normally are not in the realm of sustainability while Moreover as the Fed continues to raise interest rates little by little in the last meeting while they left the current rate alone they also indicated that there we could expect at least two more increases over the course of two thousand and eighteen and every time that happens doesn't that impact corporations in terms of the cost to borrow money absolutely absolutely you know what we talk about I don't want to get too too technical here but it's called inverted you. Curve and so when the ten year treasury securities falls below the short term the three month that's always predictably a signal that we're going into every session we're not there yet but if you think about it the cost on the ten year versus the cost on a three month Treasury if that goes to the inversion point it's not there yet but it's it's approaching it it is the most solid prediction of a recession is imminent and so we're watching that trend very carefully Craig and one of the costs to borrow money over ten years versus one of cost of our money over over a three month period so Pat help us understand the delicate balance for investors and this is certainly important and increasingly so as folks here closer to retirement age and so the ability to recover that nest egg should something happen becomes more and more difficult certainly back in two thousand and seven everybody wanted to be all and the stock market was the place to be and by two thousand and nine everybody wanted to be all out I own Well certainly that might feel like a safe place to be you're not going to keep pace with inflation if you do that so where do we find the delicate balance so that we're continuing to produce as we work toward retirement and yet at the same token not being so all end that we're taking a lot greater degree of risk than really our appetite for risk or our timeline for retirement would suggest we should well thanks for that softball the answer to that is come into one of our sixteen offices and will we will evaluate your portfolio this you have defensive your portfolio as designed if in fact we are imminently going into a recession and guess what I have no idea no one does but preparation for such a correction is smart and so if you come into any of our offices are certified financial planners are C.F.P. Anybody on our team will evaluate what you're doing and kind of discern what the difference. What the exposure you have to this wonderful market is you know John Templeton of Franklin Templeton fame he said a very smart thing bull markets are born on pessimism they grow on skepticism they mature on optimism and they die on euphoria boy if this doesn't sell like you for you I don't know what does and so I want our listeners to say is this fantasyland are we entitled to this long run our you know what once we start feeling pretty arrogant about we're entitled I get a little nervous that that attitude can put us in a position of exposure that we may not actually want to and you're about to retire soon or retired you don't want to go through a calamity of any sort of correction then you want to make sure your sustainability of your portfolio design is there and that's where our team I think help out in some way shape or form and just evaluate what's the risk you're taken we have a very scientific way of looking at your risk appetite based on what you're doing today it's amazing Craig a lot of folks think they're conservative and when we sit down and look at their portfolio they're actually either ultra conservative they're all in cash they getting less than one percent or there are too exposed to the stock market so we find that there's a giant disconnect in many many cases where they think they are for risk going to be a where they really are so again thanks for that softball being thrown at me but the and again this is not to be a downer we're generally optimistic people but we've got to be pragmatic about the fact that we've got some serious issues and some of these stealthy little signals are maybe the beginning of the ingredients to suggest a recession is around the corner and at the end of the day finding that delicate balance and then making adjustments along the way to maintain that delicate balance really becomes the watchword the goal of all of us feel like more information about that complementary financial health and reap. Plan review that Pat just spoke about it is absolute freedom without obligation in any of the Bay Area offices of the Tucci and associates the scheduler appointment to easy ways First you can certainly do that online by simply going to don't invest and forget dot com That's Don't invest and forget dot com And when there click on the button that says schedule an appointment and you'll see a drop down menu put your information in and set up an appointment in an office located no doubt very conveniently near you that's don't invest and forget dot com or you can call toll free AAA plan wise that's eight eight eight P L A N W I S. Income stream probably not something you worry much about when you have a steady job income but as you head toward retirement is your income stream still going to be enough someone who can help his financial advisor Patrick Tucci will you be financially OK in retirement with enough income you can count on if you live say thirty or forty more years could happen Pat can help you get on the right track toward retirement as you need to protecting grow your Nasdaq patterns help folks with their retirement planning over thirty years but Tucci and Associates has offices throughout the Bay Area. Call for a complimentary retirement plan review eight hundred four seven two eight three zero five eight hundred four seven two eight three zero five or check don't invest and forget dot com but associates eight hundred four seven two eight three zero five eight hundred four seven two eight three zero five or go to don't invest in Forget dot com. And here again and I assure you I have never before indorsed a pain relief product not until now not until relief factor came along as a one hundred percent drug free solution for people struggling with ordinary pain quite simply relief factor was designed by doctors to help relieve those occasional aches and pains due to aging exercise and everyday living let me ask you are aches and pains keeping you from sleeping through the night or keeping you from taking those nice long walks or playing golf or tennis you can't really call it living if you can't get around comfortably the three week quickstart from relief factor may be all you need to lower or even eliminate these pains a lot of people have already gone the relief factor dot com And here's something you need to know the majority of people who order the three week Quick Start now only nine hundred ninety five go on the order more let's see if we can get you out of pain to go to relief factor dot com. true then certainly in retirement it goes by another name specifically cash flow one of the biggest concerns that new retirees have these days is how to maintain their income in retirement you know it's got to be a bit challenging going from a steady paycheck to relying on your own assets not just practically but also from an emotional standpoint even if you might be one of the fortunate few to enjoy a pension Social Security these days is just a small percentage of the overall amount of money that you'll need in retirement if you want to be worrying about how you can make your income last Surat retirement then our host at the two she has got some great insights and Pat this is this is kind of the dichotomy of reaching retirement we're excited about finally going into the boss and saying That's it I'm done and looking forward to relaxing and laying on the beach and then suddenly reality hits I have to worry about am I going to have enough cash flow to take me through retirement Kraig retirement day is been called the most stressful day of your life and if you think about it after probably forty years in most cases of receiving a check on a regular basis all of a sudden it stops and that security blanket of having money deposited in your account is over Wow Imagine not getting paid anymore and how do you replace that cash flow and let's talk about that how to preserve that cash flow so that your lifestyle doesn't have to have a radical change and it's emotionally pretty disturbing if you think about it to have to live. Through that kind of adjustment if the rest of your life is going OK and the kids are doing OK and grandchildren are OK and mom and dad doing OK and they don't need extra money if all those other things are calm then this is probably going to be an OK day but if you have instability in any of those other areas it just further exacerbates the stress level so let's calm the waters and let's talk about how to preserve that cash flow and we're going to talk today about how to diversify that income so that any one of these four or five or six areas falls apart or the market gets slammed by it or for any one of those issues comes up we've got some alternatives to replace that probably the most conservative and the most reliable is guaranteeing your income how do you guarantee income for the rest your life in what's called a new it is now and that is have a terrible Navy go on the Internet there's a million articles about bad they are and yet they sell billions and billions of dollars of these things every year why because they give people comfort and security and guarantee of cash flow so what do you talk about a fixed annuity a variable annuity an immediate note is there's a hybrids that go on and on and on sitting with a qualified financial advisor can decidedly give you some idea of which of those annuities may be the most important tool for you so that's probably what we would call your safe money guarantee it's like your source curity check we think the so security check is guaranteed for life we believe in our government and it will not let us down it may not go up as much as it used to go up of the cost of living is modified greatly but like your SO security check an annuity if you've gone with a good strong Eric plus rated company is probably going to be your guarantee for the rest your life it has never failed and the history of the new it is in the history of insurance companies over one hundred years in some cases over Tour years that's your. Safe money as your first kind of alternative income source How about risk risk is a four letter word we all get a little nervous about oh I don't want risk in retirement Well guess what you have to have risk get over it you've got to take risk your entire life yes you take less risk as you get older but very take risk you're sitting in a point on nothing percent CD and it might feel good about not a big risk but you are losing buying power big time if inflation is the Oracle is three or four percent and you're getting less than one it does not take a math genius to figure out you're losing buying power and you cannot afford to live in the Bay Area for much longer so how do you preserve that portfolio of design and manage risk Well you look at a ratio of money in the stock markets versus money in fixed income it's that ratio of kind of speculative and non speculative it's reevaluating recalibrating that risk level throughout your retirement life again taking some risk reallocating throughout the year either yourself or hiring a financial advisor firm do that for you we think is absolutely tantamount to a successful retirement so the notion pad of completely is switching into a one hundred percent conservative portfolio upon retirement which which seems to be the logic here I'm no longer working so I don't want to take the risk because I don't have an income to replace any of those dollars should I see a downturn in the market more over time of course is a big consideration here I don't have time to wait for a portfolio to recover over the course of five six seven eight years because the utility of the money is now that idea though you're suggesting with inflation is not really the safest approach it really is and you're right people think well I don't want to take any more risk I'm now retired that is probably the biggest fallacy about people moving into those returns and yours is that notion that I've got to get ultra conservative. Of and five years into it they suddenly realize oh my gosh I'm eating into my principle way too aggressively and I'm only five years into my retirement so it gets pretty stressful and that's when you opt to take that part time job at Home Depot that's fine if that's what you want to do but you don't want to have to be forced to do that it's important to understand risk is certainly something you don't want to abandon Just because you are now retired you have important issue to consider is how much should I take out on a regular basis what's my withdrawal rate lots of studies and lots of discussion and lots of white papers written on this and the overall conclusion four or five percent is probably a good safe number sadly most people say well I've going to take out ten percent a year and I'm going to be fine you're not going to be fine that's the sad part if you were in the ninety's from one thousand nine hundred five to one nine hundred ninety nine you would have to consider conservative Well it only taken out ten percent I'm doing fourteen percent a year while I take out fourteen certainly these different times you can't take that myopic view it we're always going to have years like one thousand nine hundred five one thousand nine hundred ninety nine when when the market is on a rip it's on a tear and I'll be able to support that forever and ever calculate your bucket of money your Critical Mass dollars let's call a million dollars for sake of this discussion four percent of a million bucks is forty thousand dollars that's three thousand plus per month that's the reality of what you should expect it's a surprising number to most people who who had the notion of taking considerably more more money out but if you take four percent out of your chunk of money and you've got some security check and maybe gets a rental income maybe you've got that annuity dollars coming in and maybe if there's other alternative sources it's a compilation of all those sources that's going to give you your total budget your total cash flow hopefully that is enough to cover your monthly not part of the issue here too pat is perhaps the concern over medical and. Place in which is the one major variable that none of us can predict I mean we can certainly understand what our obligation is monthly if we still have a home mortgage we have options such as selling downsizing moving to a cheaper part of the country things of this sort but the whole issue of our medical care our health is that one major factor in there that really has that huge sort of dark cloud that hangs over retirement doesn't it it really is and it's kind of a new phenomenon ten years ago we would have never talked about health care being a big issue it was always a modest number couple hundred bucks a month and you get decent health care now it's a thousand dollars plus a month that's strikingly different then just ten years ago we're not talking about you know in the olden days this is two thousand and four five six in that neighborhood it was a very and significant line item in your budget and as you point out it is not today and some of it if they spend a thousand dollars a month and health insurance depending on your tax bracket you may need to make thirteen fourteen hundred dollars in your income to cover that thousand Premium So again that's not something that is overlooked we really focus on that number of a lot of late so the end of the day of course it really means that you really need to be flexible you need to be able to think on your feet you need to shift your strategy when you reach retirement and be prepared to perhaps in some ways get creative when it comes to not only cutting some of your expenses but bringing additional income in that might be taking a part time job working as a consultant in your former field a lot of people are getting creative with things like even joining Air B.N. B. And maybe renting out a spare room believe me there is no one size fits all strategy when it comes to investing for longevity it simply depends on a person's individual time horizon tolerance for risk and whether or not you've done your homework one way to start today is by taking advantage of that complementary financial health and retirement plan review in any of the Bay Area offices of the two G. And. SOSIAS never any cost or obligation to sit down figure out what will your expenses look like what will your income look like when and how should you take Social Security if you answer all those questions so that when you do reach retirement it does feel a lot more like the vacation the Poco if you can schedule the appointment online conveniently simply log onto don't invest and forget. Don't invest and forget. That don't invest and forget dot com. 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To gain more information about any of the topics discussed on today's program or to schedule your appointment for a no obligation financial plan today at one of their offices here you go to the website go to invest it for get dot com Don't invest in Forget dot com and now don't invest and forget you heard it said that cash is king Well if that be true then certainly in retirement it goes by another name specifically cash flow one of the biggest concerns that new retirees have these days is how to maintain their income in retirement you know it's got to be a bit challenging going from a steady paycheck to relying on your own asset San not just practically but also from an emotional standpoint even if you might be one of the fortunate few to enjoy a pension Social Security these days is just a small percentage of the overall amount of money that you'll need in retirement if you want to be worrying about how you can make your income last Surat retirement you really need to be flexible you need to be able to think on your feet you need to shift your strategy when you reach for tarmon and be prepared to perhaps in some ways get creative when it comes to not only cutting some of your expenses but bringing additional income in that might be taking a part time job working as a consultant in your former field a lot of people are getting creative with things like even joining Air B.N. B. And maybe renting out a spare room all those things are wonderful wonderful ideas downsizing your home maybe you don't need that big house in with the kids or God yes you'd like to have mobile for Sunday dinner or Christmas or Easter but is it worth carrying that giant house for a couple three or four days a year take them out to a nice restaurant or rent the place somewhere and a lot of folks especially in the Bay Area have a lot of their equity a lot of their net worth tied up in those expensive two by fours and so the question is should you cash in those big home and move to a smaller home cut your expenses your P. You need Bill again not insignificant any longer your water bill not insignificant all those items your insurance bill so what does that do to your monthly Not if you were to downsize your home or another radical idea move one hundred miles away one hundred miles away you get twice the house for half the cost Yes but I want to be close to my community my church my kids that's the trade off that we have to face and it's always a collection of trade offs that we want to entertain I have counsel just a couple recently they said they really want to travel they've not gone to Europe they want to go to Africa they really wanted to take off and given their budget I said well there's not a lot of money for nice vacations except if you trade in that giant house with no mortgage and you buy down and that's exactly what they did they traded in their big house for a small condo their income just on the house was five grand a month we have to they made the investment of the difference in what this old house for what they want the condo for and five grand a month gives them a couple nice trips a year to enjoy and that was their trade off that was their decision to trade off and it was painful for the woman a woman tend to feel their home is the place where the rest are headed to her credit she said you know what I want to travel more than I like this big house and that was her decision in many cases no I want a bigger house I will pass on the on the trips because this is my where I rest my head on my pillow every night you can't take fault with either of those positions but it is a decision it is a trade off of you know where do you want dollars to be to go on to go out into the real estate taxes and P.G.D. Bill water bill and mortgage if there's still a mortgage or do you want to take that trip to Europe twice a year or to Africa or India or are you where you want to go so life is full of decisions. How about going back to work a couple days a week or your spouse a little bit younger he or she wants to work a couple three days a week all those decisions can add to your cashflow in some way shape or form seventy two percent of pretty retirees want to keep working even every time it cranks so this is a different notion of retirements not just you work too hard and then you go into a play too hard mode it's a radical departure from one extreme right you know you work one hundred hours a week and then you retire one hundred hours we can that's why people have such difficulty adjusting to retirement because they go from one extreme right to the other maybe acclimating to it by working a couple three days a week is a way to migrate a little bit slower lifestyle and maybe taking a few weeks here or there every couple months off and there's a lot of employers who are very adaptable to that kind of schedule and it works out for the employer and it works out for for the employees having that because they typically come back to their mid to lower their charged up they're not painting their toenails when you're not around and they're not having fights with their boyfriend or girlfriend because of last night's issue there they're mature workers who who enjoy contributing it works out fairly for everybody involved so lots of ways of getting to that cash flow number we've covered a bunch of them but if you'd like to hear any more certainly we are available to me in any one of our sixteen Bay Area offices and everybody's situation Craig is unique and how you get to that cash flow number and hey get to that cash flow stream is different every time it's just incredible how how different people have created cash flows from their forty years of working and I just find it incredibly interesting that there's Well lots different ways of skinning of skinning the cat cash flow as you point out is king pattern of course for those that are. Are wondering will I have enough cash flow in retirement when I exchange my by monthly paycheck for money coming out of my savings if you're not sure about the answer to that question why not take advantage of that complementary consultation that Pat just referred to never any cost or obligation and of course you can meet in any of the Bay Area offices of the two G. And associates about an hour or two of your time and when you walk out you'll get a real good sense of whether or not you're on track or if you have a challenge related to cash flow and if so perhaps some good ideas as to how to go about resolving that challenge never any cost or obligation to sit down figure out what will your expenses look like what will your income look like when and how should you take Social Security up you answer all those questions so that when you do reach retirement it does feel a lot more like the vacation the past Boko you can schedule the appointment online conveniently simply log on to don't invest and forget dot com Don't invest and forget dot com That's Don't invest and forget dot com. Is your retirement plan actually structured to provide an income stream anough income you can count on someone who can help you answer that question is financial advisor Pat for Tucci as you think about retirement your goals may have changed now you may need to protecting grow your nest egg packing help you get on the right track for retirement if you're not working full time now or sometime soon you need to make sure your income stream will carry you through your lifetime patas help folks with their retirement planning for over thirty years but in Associates has offices throughout the Bay Area. Call for a complimentary retirement plan review eight hundred four seven two eight three zero five eight hundred four seven two eight three zero five or check don't invest in Forget dot com and associates eight hundred four seven two eight three zero five eight hundred four seven two eight three zero five or go to don't invest and forget dot com. 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Or their IRA is on track for retirement many other folks might simply say Pat I have no idea how to get started how do I even ascertain how much money I need to begin setting aside or how much of a nest egg I need to build to be ready for retirement how can we go about getting some of these questions answered for them Greg we offer a no obligation consultation and within one hour we really take an opportunity. To review their current portfolio we look at is their portfolio tax efficient is their risk appropriate for what they're trying to achieve if their risk budget is suitable given their ages and what I mean by that is we frequently find sixty and seventy year old folks with one hundred percent of their money in stock markets well that's just not prudent and suitable that's irresponsible risk taking but they perhaps have not visited how much riskier they can maybe for ten years or more and so what we want to do is look at a lot of those fundamental issues and then provide an opinion also are they planning properly for retirement and that's an important issue typically what we want to do is kind of develop a pro rata budget for what their budget would look like what their cash flow would look like if and when they retire do they have enough to retire on that is typically the big question they want to answer today is how am I doing with my portfolio between Social Security income pension income maybe they've got a rental Can they afford to live in the lifestyle they've got accustomed to in her term so that it sounds like there's no real one size fits all approach to this that in other words what might be prudent for a younger person might not necessarily be the right investment portfolio mix for somebody that's middle age say and even different still for the couple that's already at retirement Pragya right there really is a customized and unique approach for each of us and we're all a little bit different we have different net worths different tax bracket we're different ages male and female have different appetites for risk males tend to be more aggressive women tend to be more conservative we want to accommodate everybody's unique appetite for risk and we're all a little bit nervous and some are more relaxed about the market it really boils down to what I call a good night's sleep portfolio I truly believe Craig that prospectus is should come with what I call a sleep number when you go buy a mattress you now buy a matches based on your comfort level so you may want to for. Thirty and your spouse may want to thirty while you can accomodate yourself and your spouse by buying that matches to fit your needs well the same thing is true when you're buying investments there as it is a need to calibrate your comfort level with the level of risk you're taking of yours if you're not sleeping well at night clearly you've taken too much rest or perhaps too little risk and so that's not a mission we want to address at that no obligation confidential review of that we talked a lot about retirement planning taking a look at the performance of individual retirement accounts for a one K.'s What about the individual listening to our conversation that would say well that's all well and good but one of our other big concerns is planning for our child's education we want to make sure that enough money is going to be set aside so that by the time little Johnny or Sally reaches college age we know we have enough of a nest egg set aside so they can go to college or university of their choice in that kind of scenario can you and your team help yeah I guess we know somehow college costs continue to skyrocket a double digit inflation and inflation is three or four percent college costs are going up ten twelve fifteen percent it's just really said that cost of a college education skyrockets and so we have a whole host of plans most popular one Craig is the five twenty nine college funding plan and it accrues to their specific Social Security ever most children Greg don't have a tax problem so it works out real real well and meanwhile if that money is in fact used for college education all the taxes are waved on all that gain and so it's a wonderful opportunity to get tax free growth on the money and by the way of Little Johnny says I don't want to go to college but little Susie says I do it portable you can transport it from child to child or God forbid neither want to go to school mom or dad grandma grandpa can go back to Yale Harvard golf school cosmetology school mechanic school and use it the same way. So whether we're talking about planning for your child or grandchild education preparing for retirement or just making sure that your current portfolio is on track to call today and take advantage of the complementary portfolio review an hour's time with Patty remember of your financial life team can help you get a better handle on where you're at right now where you're headed to get more information and to set up your complementary portfolio review pick up the phone right now when called soul free AAA plan wise that's eight eight eight P L A N W I S. Two Your Financial Life with author and investment advisor Pat the to gain more information about any of the topics discussed on today's program or to schedule your report and for no obligation financial plan to another at one of their offices near you call toll free eight hundred four seven two eight three zero five eight hundred four seven two eight three zero five or go to the website don't invest in forget that's best and forget dot com or call toll free eight hundred seven two eight three zero five. Program Yes the program it's not affiliated with the teaching in Associates information provided for Illustrated purposes only does not constitute investment tax or legal advice information obtained from sources reliable but I've seen the care of the petition associates in the lead villany for information discuss consult the full find investment tax or legal professional taking action. Securities and advisory services offered for United Miners financial services. And associates and United Miners financial services are not affiliated. Thinking about life insurance what if you could make one free phone call and learn your best price from nearly a dozen highly rated price competitive companies or that's exactly what happens when you call select quote life for example George is forty he was getting sky high quotes from other companies.