TPWM 7-17-21 FOR COMPLIANCE EDIT FINAL.mp3: Audio automatically transcribed by Sonix

TPWM 7-17-21 FOR COMPLIANCE EDIT FINAL.mp3: this mp3 audio file was automatically transcribed by Sonix with the best speech-to-text algorithms. This transcript may contain errors.

Speaker1:
The following page program is prerecorded and sponsored by Take Point Wealth Management on the Nature Coast of Florida take point on retirement, a well rounded show from a well-rounded team leading you into retirement. Listen, Saturday mornings for an hour of simple retirement advice from your friends at take point to wealth management. Saturday mornings, seven thirty. OK, good morning. Thank you for joining us once again on this edition of Take Point on Retirement Take Point's wealth management show. That's right. Take point. Wealth Management, Judiciary Service along the Nature Coast within our listening area here to serve you once again, Eric Garner and lead advisor, retirement planner in our studios with us this Saturday to give us the information we need, the information we deserve, the information to make that right choice on your stress free retirement. So I'm turning it over to Eric Arnet. He's going to lead our retirement warriors through the program today.

Speaker2:
Hey, good morning. Welcome back. It's good to be back. Hey, man. Yeah, it's good to be back. Took a little vacation, went down to Key West and the Upper Keys that some fishing. And I also dodged a hurricane. Oh, so that was fun. The camper was a and so I can imagine and yeah. The reasons it was, you know, a lot of rain, heavy winds. We dodged a bullet. I'm glad that that thing kind of dissipated. And I was actually more worried about what was going to happen up here in Hernando County because we're down there in the Keys. Our house is up unattended out here on Hernando Beach. And we're like, hey, is our house going to flood out there? Because they were saying the storm's going to turn in. And and course, it was a lot of they were talking about getting a four to six foot storm surge and we didn't get anything like that at all. So we dodged a bullet and and we were blessed. And that was very exciting for us to come home to a nice dry home. Yeah, I was thinking

Speaker1:
About you and your homestead there, and I'm so glad that everything worked out. It moved north of us. But anyway, no, we don't need any more of those.

Speaker2:
No, no. Yeah, I know, but it's just the beginning of the season. So hopefully that hopefully they all stay away from us so they can go somewhere else.

Speaker1:
By the way, what's your favorite fish? You know?

Speaker2:
Gosh, great question. So I, I, I now I really enjoy the reason we go to Key West. You get some fish down there that you just can't get up here and so you can go I mean literally you go out the channel maybe a mile and you're in 200 foot of water. Yeah. You know, so you can catch my heat. Yeah. You catch my wahoo. I like Pompano Pompano but you name it. So we caught some yellow tails. We caught I caught it. I hooked into a big old cobia on Iraq. That was the biggest Kobie I've ever. Fifty pound cobia. How so. We have fish for days on that and Koby is delicious. Yeah but so that was fun. You know, any time I broadband's and I'm pulling on something I'm excited. You know, it's funny because the cool thing is you don't know what your you really a lot of times you don't know what's coming to the surface, you know, but the mahi fishing is a lot of fun because you just kind of troll and you hook one up and then and fight them in and then they're delicious to eat fresh. I mean, there's nothing like fresh mahi on the grill and and so. Yeah. So got a little break, first vacation in a long time and recharge the batteries and getting ready to head into the season here. I mean, a lot of folks will be coming off vacation and and talking and looking for more advice and wanting to get ready and prepare for retirement. Keep our listeners posted. We'll have a lot of retirement academies and seminars and all kinds of educational stuff coming up here starting in September.

Speaker2:
And we're gearing up for that. In the meantime, please feel free just to take your smartphone type and take point. Well, it'll bring you right to our Web site. You can go up in the upper right hand corner, click and set an appointment, or you can just click and send an email to info at Take Point Welcom, ask me any questions that you may have that are concerning you about your retirement and your retirement planning. It's never too late. It's never too early. We have clients in their twenties. We have clients in their 80s and 90s. So just, you know, it's never too late to get a second opinion, kind of look at what you've been doing and maybe see if you can improve things. You know, I had it's I'm in review season. So July is when I review with all my clients. I do a semiannual review with all my clients. And, you know, so we're constantly bringing new ideas to the table, changing the portfolios, massaging them actively, managing them, bringing new ideas. You know, the markets are always changing, always evolving. There's new strategies, new products. There's opportunities here, opportunities. There are things that you need to trim back over there. So, you know, you've got to stay active if you want to maximize the performance of your portfolio, you know, making an extra one or two percent a year over five, 10, 15, 20 years is huge. And, you know, we concentrate like we always talk about. We concentrate on minimizing. Fees and expenses, we can certainly do that 99 times out of ten, we find a way to do that for you.

Speaker2:
We want to alleviate the tax burden, try to reduce taxes in retirement. So we've got a lot of great strategies there. You know, we talk about the Roth all the time. Roth conversions will put together a Roth conversion for you. We'll talk to you about building up that tax free bucket with some strategies that we have, you know, fixed income alternatives right now. We've talked about it for over a year now. The bond market is lagging. And I think the stock market at this point, the S&P, the Dow up about 16 percent on the year. The aggregate bond market is down about one point five. So it's you know, it's negative. So you're those bonds are just sitting there kind of dead weight and pulling on your performance. You need to we need to we need to add a little more equity here, trim the fixed income, bring in some structured notes, diversify your fixed income, maybe add some indexed annuities to to take out that interest rate risk. A lot of things we can do there. So it's time for you to kind of look at things and and just, you know, J.W., a lot of times people come in and they don't even know what their performances are. What what have you done versus the benchmarks, you know. Yeah. What's your overall return? They'll just kind of tell us. Well, it's going up, you know, it's going up. But, yeah, everything's going up right now. But are you going up enough? Are you keeping it pace with with the peers and benchmarks and are you getting what you're paying?

Speaker1:
Yeah, well, that's why planning is so important. That's why folks like take point wealth management is here on your side. Let them do the planning for you. They know what they're doing. They've been doing it numerous years. And of course, we turn to the professionals that take point wealth management to be able to assist you. Their phone number, by the way, three five to six one six zero five one one. That's three five to six one six zero five one one. You actually flesh and blood that is here to help you. It's not a phone call or something over the Internet, although they do offer the website. They can do things over the phone, but actively managed portfolios. You may be hearing that for the first time. Well, actually, sit down with you. Yeah, the

Speaker2:
One. Yeah, I think that's a great point that you bring up JDub is because a lot of folks that we come in contact with through our seminars or some of our different marketing, you know, things that we do, it's interesting to me. And people just probably don't know that they're working with some person on the phone at some big company that doesn't know them from Adam and isn't taking the time to really get to know them and put together a plan and to constantly and I wonder how often they're looking at it. You know, we look at it daily. We're always, you know, educating ourselves. I just came back from Nashville. I was up in Nashville for a week in training with Brookstone Capital Management, my my ARIAH and get all kinds of great ideas and and learning about the markets and what we're seeing coming and some different product ideas and strategies and how some of the top advisors in the country are what they're doing to help their clients. So we're always in the game. And and, you know, think about it. If if if you can sit down with me and I could show you that I can improve what you're doing, lower fees, essentially lower taxes and lower the risk of your portfolio, but still achieve your goals and your needs. You know, why not just work with a local person? You can come in my office, see me face to face, you know, right here, local. Heck, I'll if I have to, I'll come out to your house.

Speaker2:
Not a problem. Work with somebody that's going to get to know you and build a relationship with you. I had a lady in my office the other day. It's been a client for a couple of years and she's now widowed. And she was like, hey, I'm I'm going to be entrusting you guys to take care of my trust. What if something happens to me? You know, we're going to continue to manage that money for her, pay her bills, you know, make sure that her lifestyle saying if she even said she wants her puppies taken care of in the trust. So we're going to do that stuff for if, God forbid, anything happens. And then if she you know, if she went and if she when when she passes away, I guess we're all going to pass away at some point. We will execute her wishes in her dreams to make sure that her estate is properly managed for her and goes out to the beneficiaries that she so desires. And so that kind of was that was kind of a cool meeting for me the other day where they have built this relationship with this lady over time. And now she trusts us so much to to take care of her money even after she's gone in the grave, you know. And so that stuff is why we're here. That's why we get juiced up. We love what we do. And and it's all about building that relationship, really, truly getting to know people.

Speaker2:
And, you know, we want people to really think about what is it? What does retirement look like? You know, sit down with your your spouse or your partner, whoever it is, and say, hey, what are we doing in retirement? What is what do we want to do? How's that look? What's it going to cost? You know, what's our lifestyle going to look? And we that's that's what we want. We want to build that stress free, worry free retirement. I want to come back when we come back in our next segment, I want to start going through maybe some tips on some ideas on how to create. That stress free retirement, we call it like kind of like the happy plan, just, you know, it's so exciting, those people come all confused and they got this hodgepodge of stuff. I got a four one K here for one K there. And Eric, I don't even know if it's an invested here. And I haven't talked to anybody in a year. No one calls me. And it's so great for us to take that and create a beautiful plan and and put it on autopilot. What these folks where they just can go out and enjoy retirement and and then let us do the work and the worrying about the money part and just enjoy your retirement. And that's what it's all about. You shouldn't have to be worrying about money, shouldn't have to be worrying about income, fear and all that kind of stuff.

Speaker2:
If you have a good long term plan, it'll weather all storms. And trust me, we've had people come in and, oh, I'm the world's coming to an end. They'll change in the elections and and all that stuff. And I'm like, no, it's not coming to an end. The markets still dry for the economy, jobs for fact. We're common record earnings. The economy's coming out of covid. It's booming and we're not even halfway there. The global economy is almost shut down. Wait till that starts blowing up and expanding. Now's the time to to to to to really look at the portfolio and see how a structure we can maximize that performance in that gain for you. And, you know, the market's up 16 percent. So people that I've met with recently or even over the last six months like, oh, Eric, you know, I just think the world's coming to an end. I don't want to do anything. Look what they've missed out on. That's fear. Don't let fear drive what you're doing. Let us put together a plan put in place. A long term plan is going to meet your goals and objectives, weather all storms and then just set it. Forget it. Don't worry about it. Let us worry about it. And you guys can then go enjoy your retirement. And I want to get into some stuff and talk a little bit about that. Some more in our next segment.

Speaker1:
Ok, sounds great. Yeah. Set it, forget it. Let take point well to management. Take care of it for you. They'll take point on your retirement. That's that stress free retirement we keep talking about. They've got all the information you need to know and that's why they share with you every Saturday right here at this station, only at this station and only at this time. Once again, take point on retirement. A show brought to you by Take Point Wealth Management, that phone number three five to six one six zero five one one three five to six one six zero five one one. Check it out online. Take point, wealth management. Look for Eric Arnet, lead advisor, retirement planner. He's on your side. I take it to take point. You should to once again three five to six one six zero five one one with all the information, education and a bunch of great advice heard every Saturday right here on Take Point on retirement. Once again, the professionals in the studio with Take Point Wealth Management. We'll be back with Eric Arnett. We got a market update to fill you in on and so much more minimizing risk, maximizing return. You're actively managed portfolio is what it's all about at take point wealth management. Back after this, folks. This material is provided for informational purposes only and should not be construed as investment advisor and offer for solicitation to buy or sell securities, all data believed to be reliable but not guaranteed or responsible for reliance on this data. Well, welcome back once again in our studios, lead advisor retirement planner Eric Arnett. He's taking all you retirement warriors to different levels, higher levels as they minimize risk and maximize return. Actively managing your portfolio. Take Point Wealth Management, a show called Take Point on retirement every Saturday this time and only on this station. And J.W. Eric Arnett, welcome.

Speaker2:
Hey. So we're back here. And one thing we were talking about in the last segment is fear. And, you know, folks, oh, you know, I think equities have run up too high or I don't want to be in stocks right now because I'm fearful, fearful, fearful. Well, you know, stock market's up 16 percent year today and could probably, you know, we might see 20, 30 percent. But in the year, I don't know, there's going to be volatility. There's no doubt about it. But one thing is we have amazing research. We have an amazing team behind us at Brookstone Capital and Formule folios. This is a great group. We have CFA, CFP, you know, we have an investment management committee. And I wanted to play our market watch with Mark Dorio. He puts he puts it in a nice little perspective for us here. You know what's kind of going on in the market right now?

Speaker1:
Well, let's do it. Here you go. Your market update.

Speaker3:
And it's Martirio, chief investment officer. This is a market watch for the week of July 12th. I just want to touch briefly on seasonality. Since 1950, July has been a strong month for stocks in post election years. But that does reverse in August and September. Third quarters have traditionally been the weakest quarter on average for stocks, although still net positive. And I would note that the market has shown gains. Sixty two percent of the Tosti two percent of the time, two percent of the time, two percent of the time. The same frequency as the second quarter average pullback during year two of a rebound from a bear market does show an average decline of just over nine percent, a bit more than we've seen so far. This has been the market watch for the week of July 12.

Speaker1:
And that's the market watch there. Eric, thank you so much. So important.

Speaker2:
Yeah. And one thing that we do for our clients is like weekly, we send out a market watch, we sent out a blog, you know, so they know exactly what's going on. And like so formula follows Brookstone Capital, our research team, they're they're still very bullish on equities. They they're not concerned about inflation and not to get into too many details, but the inflation is is it's it's been up dramatically on certain goods and services. But we're not concerned about that long term. That's not going to affect equity prices. Interest rates are still super, super low. So there's going to be still a driving force in the equities, you know, things that we do. At take point, wealth management, as we structure portfolios, you know, we can have sustainable energy inside your portfolio, we can have technology inside your portfolio, things that are going to capitalize on the changes that we have coming in the future in the workplace, the productivity. You know, we we look at adding structured notes as opposed to just having a straight fixed income right now. A lot of different things that we can do. But just want people to know that the outlook is still very, very bullish. It's time to take a look at your portfolio, maybe trim some of that fixed income, add a little more equity, but it's got to be the right equity. You can't just, you know, go pick a basket of stocks and really know what is going to be the right equity. You know, value stocks.

Speaker2:
We have dividend paying stocks. They'll pay five, six, seven percent dividend. You want have a little bit of that in your portfolio. So all kinds of great tools at our fingertips to take a look at your portfolio. So but bullish outlook. So people, you know, don't be fearful. It's things are still really moving in the right direction. So, you know, one of the things we talk about is kind of build in that stress free retirement plan. And most would agree that there's a three components that drive that, you know, it's money, health and relationships. Right. So if we have our I mean, what's the three things that kind of cause stress in our life? It's relationships, money, money and our health. Right. Those are the three main things. So one of the things that as you're working towards retirement or you're in retirement, people always talk about, you know, should I pay off my home? You know, we think it's important to tie up any financial loose ends. But many retirees have a strong desire to have their house paid off before retirement. It's not always the most mathematically sound decision, but if it allows you to relax and enjoy your retirement, then it may be worth doing. I was talking to a guy yesterday in a review that I'm doing with one of our current clients and and he said, yeah, Eric. He says, I get that, he said. But it was just something that I needed to do so I could sleep at night. And I said, Mr.

Speaker2:
So-and-so, Smith thought, is Smith, I get it. And that's what it's all about. So, you know, I can make my recommendations. But at the end of the day, if this is something that you feel strongly about, then, you know, then you have to do that so you can sleep at night. But, you know, maybe maybe refinancing that home at these super, super low interest rates and taking advantage that utilizing some cash to pay some taxes and convert your Roth or your IRA to a Roth IRA that way. Guess what? Think about it. If you have all seen your money growing tax free inside the Roth and then later on in life, you can take it out tax free and do whatever you want with it and not have to worry about Uncle Sam or the federal government meddling in your hard earned retirement dollars. Let's put a plan in place today to get to that goal. Right. So we got to utilize that Roth bucket. You know, if you're a high if you're if you're in a high income bracket or and you don't qualify for the Roth and guess what? We have a solution for that. We can almost put together our own makeshift Roth and we utilize whole life insurance to do that. And so whole life you fund it and grows tax free and then you can also take that money out tax free if you need to in retirement. So a lot of different things that we can do to create that tax free retirement for you.

Speaker2:
But, you know, not so sure, just taking a big chunk of money and paying off the home is the right decision. But if that's something that helps you sleep better at night, then go for it and. But talk talk through it. Well, the biggest thing as we talk to folks is eliminating the fear of running out of money. Right. This is a big one. So most retirees fear, fear. That's the most. So running out of money before running out of life. The right advisor can help you achieve success here and potentially add to your plan and make it a stress free plan, the right withdrawal strategy. For starters, an annuity may be an option. Life insurance is worth having a discussion about. Again, your adviser can help you maximize your portfolio to ensure it will last all the way through retirement. You don't want to run out of money. So what do we do? We're offering that free, stress free retirement plan for all retirement worries out there. I mean, we put a lot of time into this, and if you give me a little bit of effort, I'll give you one hundred and ten percent and I'll put together a plan for you. Then we test it. We throw a thousand scenarios at it. Good markets, bad markets. This is called a Monte Carlo simulation, high interest rates, low interest rates, combinations thereof. And we stress test the plan. And so we can tell if your current plan is going to make it through and if and in the plan that we put together, if it's going to make it through and then if we have to make some changes and tweak it, that helps guide us to make sure that we're not going to run out of money.

Speaker2:
Because I've seen this mistake made too many times when you kind of get asleep at the wheel or kind of get stuck in that old conventional wisdom and complacent or. Just don't want to make changes, people are just fearful of making any change at all, which I totally understand, you know, the trust factor in our country is at an all time low, like who can I trust? We are a fiduciary. You can trust us. We're held to the highest fiduciary standards. What does a fiduciary mean? It means that we sit on the same table as you. We work for you. We have your best interests in mind, first and foremost. And guess what? We charge a fee, but our fee only goes up if your account goes up. You know, if your account doesn't go up, our fee doesn't go up. So we're in the game with you. We want your account to grow. So that's why we're constantly working hard like we do to bring different strategies to the table. If you haven't made any changes to your portfolio in a year or two, three years, five years, I've had people come in and sit to me. I mean, look, this thing in 10 years, you're missing out. Well, we're missing out.

Speaker2:
We've got to we've got to dive in. And and guess what? It's not going to cost you any more money to work with us and let us do that for you. Then it is what you're doing currently. Right. I'll show you that. So I'm just really excited and trying to encourage people to pick up that phone, throw us an email. Let's get the process started. We can you don't have to come into the office, like you said, if you don't want to. We loved you to coming into the office. But if you want to do the first meeting over the phone or through a Zoome appointment, that works out real well for us. And, you know, we can kind of get your initial questions answered, but maybe downsizing. Right? This is this is have been a big challenge for for some of our retirees and our pre retirees. They want to downsize. But in this current real estate market, it's tough to do. You know, they might be able to sell their home, but how do they find something that they like smaller that's affordable? So that's a challenge. But not only will downsizing save you money and help your funds to last longer any time, but it may actually make you happier depending on the lifestyle you prefer. So, you know, Erika and I, we just recently downsized a smaller home. I wanted no yard. I'm doing the zero landscaping, you know, a lot less to take care of. Smaller home, more affordable. You know, if you're still sitting in that big old house and you know how many people come in, I got a client right now.

Speaker2:
He's all by himself and he lives in like this four bedroom McMansion. And he's like, I don't even go into these rooms. I'm thinking to myself, OK, why are you paying the AC, the taxes, the, you know, the insurance and stuff like, you know. So anyways, downsizing might be a good move to think about that. Moving from a high tax city or state to a place where taxes are to a place where taxes are lower is one way to have an immediate impact. Experts say, you know, considering all the taxes, including income, property, sales tax, inheritance tax, one caveat is you must live there for at least six months and one day per year. That's probably why we've having a massive explosion in the floor. Oh, yeah. You know, I mean, this is crazy, the growth that we're experiencing here. But you want to build in a buffer, right? You should create a financial plan for retirement that accounts for how much money you will need each month and where that money will come from, including a clear cut withdrawal strategy to avoid running out of money. So a lot of people come in, you know, they may have a 401k, they might have a regular brokerage account, they might have an annuity, they might have a Roth, they might have an IRA. And, you know, where do you take your money from first? Right.

Speaker2:
You know, let's put together a withdrawal strategy that's the most effective and efficient as well. So when should I start taking Social Security? You know, should should I start taking it now later? Should my wife take it? Should should should take half mine should defer, you know, all those type of questions that need to be answered. But building that buffer is really important to mitigate any potential worries. You should also build that buffer into a financial plan that would cover any expenses outside of the anticipated monthly expenses. So try for like a ten percent buffer there. If you are kind of like, you know, hey, it's going to cost us five thousand dollars a month and you only have five thousand dollars a month. But your plan or your sources, then that's a little tight, you know. So we need to look at ways to create more income. Let's put an income strategy in place. You know, we can do that. We have options and strategies to create that more more income for you. So I would encourage you to meet with your financial advisor. Call us if you don't. And so we can come up with that happy plan for you. You don't have to do it on your own. Why do it on your own? Give us a call. Let us work through it with you. There's no obligation. But I'm pretty confident that when you see what we can do for you and how it can help you achieve your goals, you'll be more than satisfied with that

Speaker1:
And get your money working for you and get take point wealth management working for your money. Take point. Wealth management of judiciary service right here on the Nature Coast, within our listening area, right here in your own backyard, you get to meet with a real live person that's right in our studios each and every Saturday. Eric Arnet, lead advisor, retirement planner, with us today, of course, Randy Woodroffe, certified public accountant, real estate agent, and so much more. Just a slew of professionals at your fingertips through take point wealth management. They're on your side. They're in your corner. They sit at the same table as you give them a try, give them a call, three five to six one six zero five one one take point. Wealth management, check it out online. Make your first appointment to day. They're going to give you that hundred dollar blueprint on retirement. That's right. It's to take point blueprint on retirement. Whether you have a plan portfolio or not, let them take yours for a ride. That financial analysis, evaluation, consultation, whatever the case may be, they'll even build that plan for you. Now, today, don't wait any longer. Three five to six one six zero five one one. Once again, take advantage of that. No obligation. Free blueprint on retirement. It's a fifteen hundred dollar value, folks. Yours free if you ask. Now, take point. Wealth management. If you call now and tell them you heard it here on Take Point on retirement, a show brought to you every Saturday at this time only on this station with Take Point Wealth Management.

Speaker1:
We'll be back after this. Do you think taxes are going up in the future? If so, you should learn how to build tax free income during your retirement. Now is the best time to start with a sound tax advantaged financial plan with take point wealth adviser for the Nature Coast visit take point wealth dotcom to schedule your free financial consultation with Eric Arnet, host of the local Take Point on retirement show Saturday Morning 730 Visit ten point wealth dotcom. Bitcoin Wealth Management is an investment advisor, representative of Retirement Wealth Advisors Inc and SEC registered advisor. Fixed annuities, including multiyear guaranteed rate annuities, are not designed for short term investments. It may be subject to restrictions, fees and surrender charges as described in the annuity. Contract guarantees are backed by the financial strength and claims of the inability of the issuer. Annuity disclosure to past performance may not be indicative of future results. Different types of investments involved varying degrees of risk, including the risk of loss or principal. And there can be no assurance that the future performance of any specific investment investment strategy or product made reference to directly or indirectly in this presentation will be profitable, equal any corresponding indicated historical historical performance levels or be suitable for your portfolio. Investment Advisory Services offered through Take Point Wealth Management and Registered Investment Advisor. Take Point Wealth, Independent Insurance Products and other services are not offered through Take Boyd Wells, but are offered and sold through individual licensed and appointed agents. Any comments regarding safe and secure investments and in guaranteed income streams refer only to fixed insurance products.

Speaker1:
They do not refer in any way to securities or investment advisory products. Fixed insurance and annuity product guarantees are subject to claims paying ability of the issuing company and are offered by take point. Wealth management. Indexed or fixed annuities are not designed for short term investments and may be subject to caps or restrictions, fees and surrender charges as described in the annuity contract. Take Point on retirement, a well rounded show from a well-rounded team of experts leading you into retirement. Listen Saturday mornings for an hour of simple retirement advice from your friends at Take Point Wealth Management, Saturday mornings seven thirty. Let's take a pause for station identification. You're listening to ninety nine, nine FM, WACs, JBI, Homosassa, what do you know, Joe? Well, I'll tell you, you're in tune to that program called Take Point on a Retirement. That's right. Heard every Saturday at this time and only on this station. I'm your host, along with, of course, Eric Arnett, lead advisor, retirement planner, the sponsor of this show called Take Point on retirement. It is take point wealth management. Check them out today, plug them into the search engine online. It'll bring you to Eric Arnett and the crew as take point wealth management on the Nature Coast, in our own backyard, within our listening area. Don't miss your chance to ask for all the free information that they want to pass on to you to educate you on your stress free retirement, including a book by Eric.

Speaker1:
What is your financial speed in that Annuity 360 book? It's all yours for the asking contact take point wealth management at three five to six one six zero five one one. And don't forget to take advantage of that 1500 dollar retirement blueprint. From that point, wealth management it specifically for our listeners. If you reach out that take point three five to six one six zero five one one. Let's continue on our journey together to that stress free retirement with Take Point Wealth Management. It's a show called Take Point on Retirement. Once again, take advantage of that no obligation blueprint on retirement. It's a fifteen hundred dollar value, folks. You're free if you ask now at take point wealth management. If you call now and tell them you heard it here on Take Point on retirement, a show brought to you every Saturday at this time only on this station. I need to do it now. Three five to six one six zero five one one four judiciary services up and down Nature Coast. A slew of professionals on your side, in your corner, ready to take the helm and take lead, taking point on your stress free retirement. It's all about that financially secure future folks, no matter if you're twenty or seventy, works with clients to make sure that they get through that retirement successfully. I'm talking about Eric Arnet, lead advisor, retirement planner in our studios, once again to share the information education you deserve. Speaking of which, you just got through some additional education yourself.

Speaker2:
Yeah, sure did. Thank the Lord that covid as kind of I mean, I know covid isn't gone and completely behind this, but at least things have opened up. And yeah. So we were basically kind of shut down for a year. There was no investment advisory training or we actually go to like two or three of these a year to stay abreast on all of the current technology product strategies and what those top advisors in the country are doing. So it was great to finally get back to one. Went to Nashville a couple weeks ago for a week and has trained all week. And that was great. I've been in the business twenty two years, but this industry changes every day. Yeah. So what I learned twenty years ago is not applicable to today. You got to stay fresh and you got to stay in front of it and you got to stay vigilant. Our team at Brookstone is incredible. The knowledge that we have there, the Investment Management Committee, the CFA, as our head of our chief investment officer, Mark Darío, incredibly impressive team, have a lot of really good people behind us helping us put together the right strategies for our clients and so and constantly bringing new ideas and staying competitive in the market. You know, I heard

Speaker1:
From Mark Dorio earlier with the Market Watch, which is really neat. We get to play that on occasion. But you said that to your clients.

Speaker2:
Yeah, we send that out to our clients every week. And also a big blog or another research team called Formula Folios, and they send out a weekly research blog that dives into all of the, if you like, that kind of stuff. We've got all the communication that you need talking about how the economy's doing, all the different metrics in the economy, how certain sectors of the stock market are doing, and what we expect and what we're looking at and what kind of drives the market's up and down. So earnings have been really strong. So that's exciting. We continue to be very, very bullish on equities and you have to have equities and you have to have the right exposure to equities right now in order to fight inflation. And so what I find most often is with retirees and even pre retirees, they kind of have this moderate portfolio where about 50 percent of their portfolio is sitting in bonds well over the last year and this year, if you're just sitting if half your portfolio is sitting in bonds, it's really dragging. It's like a it's like a noose around your neck.

Speaker2:
It's like an anchor. So we've got to diversify that side of the portfolio and we can lower the fees. They're diversified structure and some other types of investments are going increase the yield quite a bit, but at the same time, lower fees. And so it's just a win win across the board. So we got to continue to have somebody looking at this every day. It's not just buying a couple of mutual funds based on past ten years performance and hoping everything works out. It's so much more than that. You know, I think people think it's that simple, but it's really it's really not. There's a lot going on behind the scenes. So, yeah, we've got more training coming up here in September. And so I'm just happy to kind of be back where we can get back out, move around a little bit. And the hotels were packed. It was crazy. I couldn't believe Nashville and it was unbelievable. I mean, you could barely walk in the street. I didn't get sick, so,

Speaker1:
Yeah, I came in as a matter, by the way, I'm hearing a lot about how profitable biotech stocks are.

Speaker2:
Yeah, absolutely. We call those are alpha stocks. So we have portfolios that just simply specialize in biotech technology, things that are driving all of the commerce on the Internet, sustainable energy. So, like, if you're if you if you think green energy and all that kind of stuff is the wave of the future, which more likely it is than we have, we have baskets of stocks and portfolios that we can add to your portfolio so you can have that exposure. And so really good diversification there. And what that does is when we have good up markets, those growth stocks really push the portfolio higher and then we have a correction. Then the base, the core of your portfolio, the value stocks and the big dividend paying stocks and those types of things will create an anchor and help you, you know, but I think we're going have a lot of volatility. But man, innovation and stuff that I mean, technology, what's his name just went to the moon. I'm not to the moon, but went into space in the space. Branson with Virgin and now Bezos and. And then what's his name is Dr. Tesla, the guy I'm drawn to by now. Right. Oh, my gosh. That's crazy, right? I mean, anyways, he's going he's going to be getting up there in space.

Speaker2:
So the technology. So we have access to those stocks that are driving that world. And so you get to add a little bit of that in your portfolio as well. So. But let's talk you know, there's so many moving parts and a successful retirement plan, right? I mean, so in this segment, I'd like to dive into a little bit about some facts from fiction and find hard to believe retirement facts. So one of them this might be a little bit hard, but the average retirement number should be about six hundred fifty thousand. But experts say many people wonder how much they'll need to save to retire. There's no universal answer, really, but leading to poor education on the topic when when you eventually stop working cash flow from Social Security, pensions or investments will cover your living expenses. Pensions are disappearing, though, so so people are relying more heavily on their investments. So, you know, I'm not planning like when I'm doing I'm 50, so I hope to retire someday. And but I'm not planning on Social Security providing that for me, you know, so my investments are going to have to provide that income for me. I have no pension and a lot of people don't.

Speaker2:
So the median retired couple has an annual income of fifty seven thousand, thirty one thousand of which comes from Social Security. So investment income must cover that twenty six thousand dollars gap. We call it the income gap. Right. So we need to sit down right now. And maybe you're 50 years old like me, and you're looking to maybe retire, you know, 60, 65, or I need to find out what that income gap is going to be and plan for it and build out a plan that's going to fill that gap for you, you know, and so we got to make that happen. And so there has to be a solid plan in place to get there. And you have to have a little vision with me. You know, people are just so nearsighted or whatever it is, they just think about today and maybe tomorrow. But I try to get people expand their minds and looked five years, 10 years, 15 years out and show them on our screens what those what that might look like and try to get them excited about the long term plan and not making a lot of crazy shifts and changes between now and then, because that can really impact the success of the plan to so

Speaker1:
Narrow mindedness, you know, causes all kinds of problems. You need to be you need to broaden your horizons, broaden your mind.

Speaker2:
Absolutely, man. So the average couple needs three hundred thousand dollars in assets to cover health care costs and retirement. So think about that for a second. That's in bold right there. Yeah. The average couple is going to need three hundred thousand in assets to cover health care costs and retirement. The out-of-pocket medical expenses are different for everyone, of course, but it's common to incur most of the those costs in your older years, obviously. Right. Medicare provides partial coverage, folks. Partial coverage. I buy things. Oh, I get the sixty five. I'm safe. I'm set. Medicare is going to take care of everything and that's not the case. You're still on the hook for a lot of those bills. So we've got to look at how come there may be some strategies that we can put in place like long term care insurance, you know, so by the way, that brings me you know, I'm just kind of flying off the handle. I don't really prepare for these shows. I just talk and we go. But I think one of the cool things about our firm and our practice is that it's a one stop shop. We now do your we can do your state. Planning for you, you don't have to go to attorney and pay high, high fees, we can do that for you, right? Right. I take point. Long term health care, we have Medicare folks. Now, if you're looking for Medicare Advantage plans, we can help you with those your investments, your retirement planning insurance needs, Randi's license and real estate.

Speaker2:
You need to sell a home. We can get that done for you. We can do I mean, it's a one stop shop, folks, where you need a financial quarterback. Then come see us and we'll take care of everything for you. And when I'm in retirement, that's that's exactly I mean, people ask me, are you going to when you retire, are you going to manage your own money? And I'm not I'm not going to do it. I don't want to think about it. And even I've been in the industry. I'm an adviser. I'm going to have someone else do it. For me, that's brighter and smarter than me and let them worry about it and manage it for me. I'm going to be out fishing, man, and traveling. I'm not going to be looking at that stuff. And I want someone to call me up and say, Hey, Eric, we noticed this. Hey, Eric, we think you should might be doing that or let's talk about this. I need those ideas brought to the table. Right. Because I'm not going to be in the game anymore. I'm not going to be studying that stuff when I retire. So I equate that to people out there that aren't in my industry that are trying to do it, the stuff on their own.

Speaker2:
And I think they've got it down pat. It's, you know, get a second opinion, man, from from the experts, you know. So but the three three hundred thousand number, of course, is an average estimate based on forecast expenses and growth rates. So that said, a retired couple can reasonably expect to spend that much to meet all of their lifetime medical needs. So most Americans believe they'll only need three and thousand to retire comfortably. So it's unlikely that most people have budgeted enough for doctors visits, prescriptions and hospital stays and things like that. So your savings becomes less valuable over time. Right. So this is a big concern of mine because it hits home personally because people are fearful, so therefore they won't invest and they won't take maybe a step outside their comfort zone. They might have a bunch of medicine. I know a gentleman that's got a couple of million dollars in the bank because he wants to he just wants to be in total control and that's the only thing he understands. And, gosh, how much money is he cost himself, you know? So but inflation's going to eat that alive this year. Inflation has been four percent, right? Yeah. So those are some of the numbers we've heard. So you're making zero at the bank? Yeah. You just lost four percent of your money. That's right. Negative four percent.

Speaker2:
How do you feel about that? Plus, the dollar is weakening. It's going to weaken. So you have all kinds of forces eating away at your purchasing power. Right. So inflation is a major threat to retirement plan. The U.S. dollar loses buying power over time with a three percent average inflation rate. That figure has been closer to two percent for the past twenty years. But there are signs that, you know, we're entering a period of higher inflation as the economy recovers from covid-19. We have something going on right now that we've never been through before where the global economies were shut down for well over a year, OK? And all of a sudden that opens up and people have money in savings stuff and now they need to get everything done that they wanted to get done. The demand that's that's driving those prices through the roof because also at the same time, there's not enough supply. Right. So so I've been waiting for months for a refrigerator. Oh, my gosh. I haven't gotten. Wow. No. Then we call up and they're like, man, we don't even know, like maybe next year sometime. Wow. You imagine living in America and you can't get a refrigerator. This is crazy stuff. So but this is the stuff that we're ever, ever vigilant about. So anyways, we'll get into some other stuff when we come back from our in our next segment.

Speaker1:
Ok, last break before we have to end for the day, but it's not over yet. Stay tuned. Eric Arnet, lead advisor, retirement planner, with us this morning as he is with us every single Saturday at this time, only on this station, I'm talking take point wealth management of judiciary service right here on the Nature Coast in person alive. All you got to do is reach out to them and find out how important they are. Three five to six one six zero five one one is the phone number three five to six one six zero five one one. That's and take point wealth management. The show called Take Point on Retirement, heard every Saturday, seven thirty eight thirty. You can check them out online at take point. Well, dotcom, you go catch up on past shows. You can also send in your questions to info at take point on retirement dotcom. We'll address those questions live on air and some of our programs as we've had in the past. That's info INFP if you have a question, you want to hear it on air info at take point on retirement. Dotcom, the name of this show once again, Eric Arnet, Lee Divisor Retirement Planner, would take point wealth management. And I'm J.W. will be back, folks, after this. With so many services at their fingertips and a well rounded team of professionals take point, wealth management is on a mission. To take point on your retirement, take advice from someone with your best interests at heart. Take the risk free financial analysis of him today, three five to six one six zero five one one take point wealth dotcom.

Speaker1:
Don't forget to ask for your stress free retirement book. Tell him J.W. said something. Wealth Management is an investment advisor, representative of Retirement Wealth Advisors Inc. and says Registered Advisor. Well, we're back with Take Point on Retirement, a show brought to you by take point wealth management on the Nature Coast within our listening area. Yeah, right down the street in your own backyard, folks, reach out to take point wealth management for that free advice, financial analysis. That's valuation. It's all through take point wealth management. Check them out online. Give them a call, three five to six one six zero five one one. A slew of information, a slew of professionals all at your fingertips just by calling three five to six one six zero five one one. By the way, that not no obligation blueprint on retirement is yours for the asking. Just tell him you heard it here on this program and ask for that take point blueprint on retirement. It's a fifteen hundred dollar value brought to you by your friends at take point wealth management. They'll sit down with you, go over all the dos and don'ts of retirement in your financial analysis. It's a personal thing and it's all about you're financially secure future. That's a stress free future. Stress free retirement. It's a show called Take Point on Retirement from Take Point Wealth Management. Now to once again conclude with our program. Eric Arnet, lead advisor, retirement planner.

Speaker2:
Hey, thank you, sir. So we'll pick up on inflation because this is the big topic that everybody's talking about. So continue to discuss that. But luckily, there are strategies to combat inflation, retaining some exposure to stocks. And your investment portfolio is one popular strategy because equity prices rise with inflation and tend to grow over time. And your fixed income portfolio, you can also consider using Treasury inflated inflation protected securities whose value and interest payments adjust with inflation. So there are things, you know, people worry about inflation and get fearful. We have a way to combat that and even capitalize from it. Right. So let's not let's not fear. Let's capitalize on it. No, let's grow your portfolio. So, you know, one thing, too, is you don't get to this. This kind of gets people a little irritated sometimes with their eyes pop out when I always tell them, you know, you don't get to keep all your fault on savings, by the way. You have a partner, you have a partner. It's called Mr. IRS. And so it can be scary to calculate the tax liability in your retirement account. The IRS allows people to defer taxes on contributions to qualified retirement accounts such as four one KS for fifty sevens, 403 B's and IRAs.

Speaker2:
That money gets invested and grows. Without taxation, however, the IRS will eventually get its pound of flesh right there and they're going to come after it in. Distributions from these accounts are taxed as ordinary income. Today's average 65 year old 401k holder has two hundred and sixteen thousand in their account. Tax rates vary by state and change over time, but it's common for retirees to have effective income tax rates of 10 to 15 percent. We usually see more like 20 percent when you add in pensions and Social Security and all that kind of stuff. But it's realistic to expect that the federal government to collect thirty thousand from you over time. That number could be even larger of tax rates are higher in the future. Right. So more than likely, if I was a betting man, taxes are probably going to be higher in the future. I mean, how do we pay for, you know, the trillions and trillions of dollars that the federal government has been printing to, you know, prop us up during covid?

Speaker1:
How does taxation factor into inflation or is it the same thing?

Speaker2:
You know, I mean, it's a good question because all kind of tied together. You know, interest rates, depending on a can have a lot to do with demand. So, like, you know, if interest rates are high, that might lower demand. But when interest rates are low and you can borrow money at zero percent, then you have all this house on. People have money, right? Really cheap, cheap, cost money to go out and buy stuff and do things right. And so that being that we're in such a period of low inflation, I mean, interest rates, that's causing inflation to. Right. You know, so that's a great question. But that's why I don't see that changing right. For a long time. So I think that's why we have to tweak your portfolio. We have to add different strategies to combat. At inflation, because it is all tied together, but the number, I think is going to be much higher in the future, you know, tax rates are going to go up. They have to pay for pay for all this money that they're doling out. I mean, you know, we're talking about free health care, free college, free this, free that. You know, so you need a plan for this. You know, you need a plan for more than 20 years of retirement, you know, not five years. I mean, most people plan for a year, like, OK, you know, this year you got to think past that. You've got to think 20 years we build out a 30 year plan. Right.

Speaker1:
You work with 20 year olds, 30 year old.

Speaker2:
Yeah, yeah, yeah. But if you're 60, 65, we're still building a 30 year plan. And we're we're planning for, I guess, the best or the worst, whatever you want to call it, that we're plan for you to live to 95. So our plan goes out to 95. So we want to make sure you still have money and your income is still growing with inflation. Think about what it's going to cost. OK, if you're 60 years old and you live into your 90s, 30 years from now, what's it going to cost to live?

Speaker1:
Yeah, look at the past 30 years.

Speaker2:
I mean, come on. Yeah, you've got to keep that money going, growing. You got it. You know, you got to be vigilant there. So life spans are longer than ever thanks to medical breakthroughs. Right. So for a married couple that reaches age 65, the average lifespan for the longer lived partner is more than 20 years. So it's common for at least one member of a retirement plan to spend twenty five years traveling, dining out and paying for the health care. Right. So a twenty five year retirement plan was unfathomable, unfathomable decades ago and pensions were popular. And that's a big reason that pensions fell out of favor. So unfortunately, this means that individuals are left to their own devices. You know, we've got to create a pension for you and we can do that if you don't have a pension and your 40, 45, 50s, 60s. I don't care how we can create a pension for you so we can build out and create a pension plan for you. So that's super important.

Speaker1:
I like all the information you've shared on annuities to be able to do that.

Speaker2:
Yeah, I mean, so basically, you know, I was talking to a guy the other day and he works for a large corporation and part of his retirement will be a pension. And he has the option of taking the pension or a lump sum. And so we were doing an analysis on that. And nine times out of ten, it makes a lot more sense to take that lump sum and create your own pension, because all these companies are doing these big pension plans. They're creating annuities. Right, right. Or they're utilizing annuities even in their portfolio, utilizing large insurance companies to create annuities. So people sometimes are fearful of annuities. And folks, your state, local, federal governments, they're investing your money in annuities to create those pensions. So get control of your own money. Take that lump sum and let's build a pension for you that you have control of. And if you need to access cash, you can you know, it gives you so much more flexibility than just relying on the state to cut you that check every month, you know. So I think that you can run far, outpace any and grow your money much better than the state can or are. The federal government can. So. So you've been saving for retirement. You've got a plan in place. Right. So maybe it's time to consider actually retiring. So here's six signs. You may be ready to begin the next phase of your life called retirement. One is your debt.

Speaker2:
Are your debts all paid off? If your mortgage is paid off and you don't have any loans, credit lines, large credit balances or other debt, you won't have to worry about making large payments during retirement. This leaves your savings and retirement income available to enjoy life after work, and it's free to use in the event of an emergency rather than having it tied up and paying off large bills. So No one, of course, we want to try to get those big debts paid off, right? No, to your savings has exceeded your retirement goals. You planned well. You set a goal for retirement and your savings and your investments have been doing well. And they more than exceed the amount that you're going to need to to to to live comfortably. Then you're probably ready for retirement. You're good to go. You know, it's funny, I was having a conversation with a guy the other day and he's like, I don't know if I'm ready. Retire. It's one of my current clients. I mean, he's got like four million dollars. And he only he only really lives on it, but he's got about one hundred and twenty thousand all your lifestyle. And you're still worried about he's about 62. Should can I retire Kanata? I'm like, let's let's go through this, you know, and you absolutely can retire, like relax, you know. So and it's funny because because of the difficulty in getting people back to work, his company actually offered him a hundred thousand dollar retention bonus to not retire.

Speaker2:
Wow. So that's, you know. This is happening to folks out there because companies are worried that they can't fill the slots and the vacancies of of jobs because a lot of people in that early retirement age, maybe 55, 60, they're not going back to work, you know, so companies need help. So anyway, it's interesting that this guy, you know, is going to get a hundred thousand dollar bonuses style. So that's kind of a motivator to stay and work a little bit longer. Yeah, and he enjoys what he's doing. But but, gosh, we showed them we did all the planning and he got more than enough money to retire. So you've exceeded your goals. So your retirement plans don't have any early withdrawal penalty. So if you've made it to the point where your retirement plans don't have those early withdrawal penalties, no one likes to pay unnecessary penalties. And early retirees going to a fixed income are no different. So if you're out of that stage, you might be a good time to retire. Is your health care covered? You know, health care can be incredibly, incredibly costly. And any retirees should have a plan in place to cover health care costs. Most most people are concerned they want to retire, maybe in in, you know, prior to 65. But they're like, hey, I got this gap to fill until I get to 65. We can come up with strategies to help you bridge that gap.

Speaker2:
Excuse me. So if you want to retire at 63 and you're ready to retire, like, oh, I just don't want to pay those high medical costs, I'm fearful. I want I'm going to wait till I'm 65 to get Medicare. We can help you bridge that gap so and we can put strategies in place to help you do that. So get but if your health care is covered, that might be a great motivator. You can currently live on your retirement budget. So it might be good to practice for a year or so or two and see what your budget is. And, you know, we talked about it on so many shows because like most people don't like to just sit down and do a budget and stick to a budget because that's called discipline and restriction. And, you know, hey, it's my money. I want to do what I want with it whenever I want. But that could affect your long term goals. You know, I have to work longer if you have that, you know, that approach to have a disciplined budget in place. But if you if you have a budget in place and you're pretty comfortable with, that's how it's going to look like in retirement and you're fine. You're meeting that. Plus you have a little extra left over. You might be ready to retire. So you have a new plan or project for retirement. So leaving work early to spend long days with nothing to do will lead to an unhappy early retirement.

Speaker2:
Trust me, I've I've had so many folks that say I just can't wait to get out of this job. So they get out of the job. And then they're also now they're sitting at home, you know, all day long and no hobbies, no interests. And there are even more unhappy because they're bored to death. Right. So start thinking about that stuff, you know, what are you doing in retirement and can you afford it? And if it's something that you really are passionate about, was put a plan together to make sure that you can afford that. But leaving work early to spend long days with nothing to do will definitely lead to unhappy early retirement. I've had many clients retire and go back to work, you know, or go pick up that part time job or open up a new business and we help them. You know, I can think of one individual. He had a business, successful business, sold it, retired, gave us the money. We invested it, set up a retirement plan and everything was going great. He was out there doing his little farming and mowing yards and cutting trees and building. He built some stuff on his property. And when all those products were done that he had in mind that he wanted to do and in all those years he's working, he was like, Eric, I'm bored to death. I can't stand this.

Speaker2:
I'm going to go. He says, I need to pull that money back from you. I'm sorry to say that, but I'm going to build a business. And we helped them do that. And we are still his tax advisors every day. And we're now that business is doing so well. He's adding money back into our portfolios and utilizing our Tax Saving Strategies Corporation. And now he's bringing his kids in. Right. Because our firm is so dynamic, we have the CPA practice and all that expertise and we can set up LLC and help you do your business plans. And we were able to do that for this guy. And so that was a beautiful story. Retired. This is going to be happy, realized he wasn't happy, went back to work, and we helped him create a business and a very successful business and and now he's adding money back to the portfolio. So it's a great story. So it was funny because when he did when he said, I feel really bad taking this money back from you, but I promise you I'm going to bring it back. And now he is he's bringing it all back. So his business has taken off and he's doing great. So anyways, you know, having a defined travel hobby or a part time employment plan or even the outline of a daily routine can help you ease into an early retirement. So keep that in mind. You know, keep all that stuff in mind.

Speaker1:
Time to wrap up. That's it. Yeah. Is are you done?

Speaker2:
I guess I don't. I mean, I can keep talking, but I think you're going to cut me off.

Speaker1:
Yeah, exactly. Yeah. We only got so much time. Yes. Radio after all. So. We appreciate the time that you've given us today, though, all you listeners and of course, Eric Arnet, lead advisor, retirement planner, would take Point Wealth Management, a show called Take Point on Retirement. You hear all the success stories each and every week, folks from take point to wealth management right out of that judiciary service right here in Nature Coast. It's all happening here locally. The success stories. Why don't you be that next. A success story by giving take point wealth management to call three five to six one six zero five one one three five to six one six zero five one one take point wealth dotcom. Check him out online. Make your next appointment now with take point wealth management. Regardless if you're seeing someone else or not, they'll they'll give you the reason to take it to take point like I did once again, take point. Wealth management take point on retirement every Saturday right here at this time and only on this station. Folks, check them out for yourself. Take point, wealth dotcom. We'll see you next time. Don't forget to ask for that. No obligation blueprint on retirement. Folks, thanks for being with us. God bless you. We'll see you. Have a great weekend.