TPWM 5-29-21 final.mp3: Audio automatically transcribed by Sonix

TPWM 5-29-21 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 paid 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 730 Eric Arnett is an investment advisor, representative of Retirement Wealth Advisors LLC and SEC registered advisor Pequeno Wealth Management. This station and RWA are not affiliated. Exposure to ideas and financial vehicles discussed should not be considered investment advice or recommendation to buy or sell any financial vehicle. Any comments regarding safe and secure investments in guaranteed income streams? Referral to fix insurance products. 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 not offered by retirement wealth advisors. Well, once again, good Saturday morning to you and thanks for joining us on this very important weekend, Memorial Day holiday weekend. A lot of us have a three day. We're looking forward to it. I hope you are, too, but thanks for spending your Saturday with us on this Memorial Day weekend. Here with you, my friends in the studio, as always, at this time, seven thirty eight thirty an hour chock full of the information you deserve, the education you need in regards to a stress free retirement. That's right, folks. My friends from Take Point Wealth Management are here once again. Eric Arnet, lead advisor, retirement planner and a certified public accountant, part of that well-rounded take point wealth management team. We've got Randy Woodruff standing by as well. So, once again, a whole hour chock full of that information. You look forward to each and every Saturday at this time as I turn it over to the professionals in the studio, Eric and Randy.

Speaker2:
Hey, good morning.

Speaker3:
Good morning, everyone.

Speaker2:
Memorial Day weekend

Speaker3:
Could be a nice weekend, too, I think.

Speaker2:
Yeah. Thanks for everybody out there who has served or lost a loved one who has served. Thank you so much for that. And as always, we extend a completely free analysis, free evaluation and free advice for our first responders out there. And I think that would be a good thing to talk about and remembrance on Memorial Day. We thank you for everybody out there and enjoy your weekend. But remember what it's all about, right? I remember growing up as a little kid. I had no idea what Memorial Day was. It was just like, hey, we had the day off of school

Speaker1:
And Veteran's Day.

Speaker2:
Yeah, absolutely. Absolutely. Veterans, we celebrate all Veterans Memorial Day, of course, those who have fallen to some really, really important holiday. So we're at the barbecues right in the bow. We're doing all kinds of fun stuff as Americans, as somebody paid a price for an ultimate price. Right. Thanks to everybody out there. Appreciate it. Yes. So today's show we wrapped up last week, J.W., and said something about, hey, let's maybe talk about cryptocurrency. Yeah. Because it's hot in the news. And quite frankly, it's funny that you have suggested that because I've been getting all kinds of questions about it from my existing clients, a few emails and prospects. So the title of today's show is going to be especially now the foundational basics of investing are more important now more than ever, especially now a market update. Unemployment looks good. We had four and 43000 first time unemployment filings this past week, so that's down quite a bit. So job market's improving. I almost think that there's probably a job out there for everybody who's looking looking for a job. I mean, there definitely is. There's got to be. I think the last thing I saw was like eight million job openings or something like that.

Speaker1:
What they'll do this for years as well. They'll give you money in return. Oh, wow. And benefits maybe show. Yeah. Yeah.

Speaker2:
Well, it's interesting we

Speaker3:
Postpone that for a minute because I mean I've noticed that in my we're trying to hire at our CPA firm because we've, we've been growing a lot and we we need two additional staff members and now we're trying to hire a receptionist, have resumes coming in because people back to such an appointment, they don't call you back back. I had an appointment this morning with someone 845 scheduled to come in at the office, called in from yesterday. Today, no, show me. And so there aren't any jobs out there. I think we've probably heard in the news that part of the part was keeping people back is too much stimulus, too much unemployment benefits in the market right now. People just seem to stay home and not work. I've got restaurant clients, other hospitality industry clients that can't find employees. They have to shut down a couple of days a week because they just can't get enough employees to work. And it's it's starting to happen across all industries. So hopefully the federal government significantly pares back these unemployment benefits because there is a a crisis brewing in America in terms of labor. And it's not because there's not enough jobs. It's because people are incentivized to stay home.

Speaker1:
Yeah, yeah. We're here locally. And in Florida seems to be more of an issue because we've always been a service driven economy here in Florida. Right. So everyone wants to retire to Florida and want to be waited on or served.

Speaker2:
Absolutely. I've kind of noticed something because of the pandemic and because of the reduction in labor force companies in general, even your service orientated restaurant, your fast food. I've noticed that there are advertising higher wages to try to get people to come back to work. Fifteen dollars an hour to work at McDonald's. I remember you're lucky if you made seven or eight bucks there and they're offering benefits, offering educational benefits, things like that. So that might have been a good thing that helped workers out and almost like an artificial way, supply and demand where we didn't have to force. I mean, I think they're still going to be a force of the hand with government regulations that you're going to have to get to fifteen dollar minimum wage at some point. But but companies will increase their wages and their benefits to attract employees. So that's a good thing for the job seekers out there. And I know I heard something about Florida, I think Governor DeSanto. Signs something into effect, like starting in June, some time, he's going to be cutting out the extra benefits, not that the no longer to take the federal benefits on top of it. So people are going to start looking for work here real soon.

Speaker2:
Yeah, it's interesting. I went out to Tampa last weekend and went to a nice high end restaurant there. A lot of staff. I mean, they were fully staffed and you go to some places that aren't staffed at all. So I think it's all monetarily driven. And these higher end restaurants, people are making good money, bigger ticket items. But in the smaller businesses like McDonalds and things like that, they're going to have to or even the mom and pop places, they might have to increase their benefits or their wages a little bit, which which reminds me, just just popped in my head on the fly. If you are a business owner out there, give us a call, come see us. And it makes sense for you to provide some benefits that we can help you set up, like retirement accounts for one case set by a simple IRAs for your employees that might help you become more competitive than your competition at attracting labor. So, you know, we can help you set up to where you can offer some better benefits for your employees, right? Absolutely. That would be a great idea. But getting back to kind of a topic for our show today, you know, we wanted to talk about crypto currencies.

Speaker2:
I want to talk a little bit about real estate. I want to talk a little bit about banks, CDs. I want to talk somewhat about all these commercials are here about physical gold and silver. You know, these are three types of asset classes that I would absolutely tell you to stay away from right now, completely avoid these. It's funny, during these times where fear levels a little bit higher, you see all these advertisements in and then, of course, the cryptocurrency rage. We're going to dive into that a little bit and explain some of that. But one thing, the number one thing that jumps out at me that people need to know about is that real estate, cryptocurrency, physical gold, silver, all those advertisements that you hear, those people are unregulated folks. It's completely unregulated. There's no compliance. They have no regulations, unlike in our world, in the insurance, the investment world, the CPA world, we're highly regulated. You know, everything has to be approved and regulated and documented. And, you know, the SEC oversight, the FINRA oversight, the government oversight, these are completely unregulated industries. And the

Speaker3:
Wild, wild west, that's

Speaker2:
A wild, wild west. They prey on people's fear. So anyways, real estate, it's a seriously high market point right now at this point. That's really not to be played with. I mean, real estate's hot. It's shot through the roof. Please do your due diligence when buying a home or property. Remember, this profit is made in real estate when you buy it, not necessarily when you sell it. That is so true, right, Randy? I mean, Randy is the real estate expert, and that's why it's so great to have him here. So feel free to to to chime in on that. It was bothering me that I've been seeing all these commercials, getting all these questions from folks. And during these time frames, you know, these companies in these offerings, these people try to tend to prey on people and buying physical gold and silver. Seriously, there's so much to do with it between you and the and the buyer and seller. So No one you're paying a lot higher for. You got to find a place to store it. You got to pay for that. And then you know who is going to take your gold and silver. We've talked about before in the show, you can stockpile of stuff.

Speaker2:
OK, so you're going to sell it someday, right? That's the only way you can monetize it again. Who's going to buy it? What are they going to pay for it? Everything I've heard of you take physical gold or silver to a pawn shop or they're going to give you half of what you paid for it. This is a big forest to prey on your on your fears. You can have access to gold, real estate, even cryptocurrency now inside your portfolios. And we can hit a button and be in and out of it if we want to. So that's the type of thing that you don't need physical, tangible assets these days. Are you going to hide gold or silver and under your house or in the backyard or something? It's just a emotional thing. There's no value there unless you can actually I mean, you're going to be able to take your your gold coin down the publics and hand them a gold coin and say, hey, I want to buy my loaf of bread and milk right now. I mean, I don't think they're

Speaker3:
Going to do with

Speaker2:
It. Be very careful. All these commercials that you're here preying on you on the gold and silver and things like that,

Speaker3:
That's the real estate. You go back to that, you know, and you mentioned and it's so true that you make money when you buy, not when you sell. And and had a conversation with a client the other day looking to buy some real estate if you're looking to buy your home to live in, because we all have heard of the bidding wars going on right now and they're just as bad, if not worse, than they were back in 05 and 06 and getting, you know, homes that are properly priced and even on the high side, still getting offers coming in, you know, 20, 30, 40, 50 thousand dollars or more in cash offers coming in and buying these properties. So. I'm advising clients that are looking for investment property, like now is not the time. And I firmly believe I heard it at some point your life that you make money real estate when you buy. Well, if you can make money, real estate when you buy something or any any kind of investor when you buy, you don't buy it when it's high. He had to live in a house for your primary residence, for a roof over your head.

Speaker3:
OK, maybe you have to purchase something now and pay more than you want to buy foreign investment. Now is not the time to be looking to buy investment property unless you're just getting one of those rare deals that come across some rare deals and have purchased some property. But it's usually some kind of unusual circumstance surrounding it. But just under ordinary circumstances, strongly caution you against against buying real estate. You mentioned the phrase here they follow for missing out. And I think people are getting caught up in that. We saw it happen back in 2000. Four or five, six, seven people were afraid to not get in and unfreeze. And I remember reading something back then. There was a phrase that I read in some article and there was I fit the name of the guy, but he was a national renowned real estate investor. And he says real estate market right now is like is like playing polo with a bunch of rookies. You know, somebody going to get hurt.

Speaker2:
Yes. Yes. And that's great. I mean, that's dead on foma fear of missing out. I was reading an article about that the other day. And it's it's an actual like almost like a mental disorder. And there's a lot of that going on right now. And even people are already having buyer's remorse that got in earlier in the year or last year because they were trying to, you know, buy a bunch of real estate because of fear of missing out. And I actually sent that to a client of mine. And he emailed me right back, said, you're right. You know, like, I definitely have that I want I just have this I feel like I have to get one more property under my belt in my portfolio. And I was just not probably the time to do that, especially in Florida, like, you know, you know, maybe in other parts of the country there might be some bargains. But the Florida market is so hot and it's so, you know, competitive. I mean, you're putting your house up for sale and then you get ten bids on it the next day and people are paying over asking price. That's that's kind of a warning sign for me. So what you should do, folks, those are your listeners out there.

Speaker2:
If you're considering that real estate as an investment or even considering real estate or selling your home, your primary home, please call us. Give us give us a chance and an opportunity to evaluate that for you. Randy, real estate licensed and also has, you know, owned and managed a bunch of real estate himself. And so he's got great expertise in that, the taxation of it. He can answer all those questions for you. So if you're thinking about it, get a second opinion. Don't just listen to your realtor or your friends or your family, because they may be biased or have, you know, some motives for you to to purchase real estate at this point. That's not best for you long term in your retirement plan. So retirement warriors beware. We're going to get into some more in the next segment. We're going to talk a little bit more, obviously, about real estate. We're going to have a clip from Mr. Warren Buffett on real estate. We're going to talk about cryptocurrency because that's concerning to me right now. And we're also going to dive some more into the physical gold and silver. So let's get to it in the next segment.

Speaker3:
Sounds good.

Speaker1:
Let's do it. We're going to take a quick break, though, in the meantime, and hear from our sponsor. Take point, wealth management, the professionals in the studio every Saturday at this time and only on this station talking about real estate. Once again, as Eric Arnet, lead advisor, retirement planner, would take point. Wealth management says profit is made in real estate when you buy it, not necessarily when you sell it. We're going to hear what Warren Buffett and Charlie Munger have to say, as well as Randy Woodruff, a certified public accountant and member of Team Take Point Wealth. And you can be a team member as well by joining Take Point Wealth Management, giving them a call, three five to six one six zero five one one be a part of the entire family. They want to reach out and take care of your financial future, make sure it's stress free as they've done for my family. So join the team. Take point wealth management three five to six one six zero five one one. And we'll be back with some more information, including crypto digital currency. Looking forward to that after this. Folks taking well, there's no accounting tax or legal advice. Investors should be aware that the determination of the tax consequences to them should take into account their specific circumstances and that the tax law is subject to change in future retroactive.

Speaker1:
Investors are strongly urged to consult with their own tax advisor regarding potential strategy, investment or transaction. OK, a little compliance disclosure there to share with you as we do throughout the entire program and each and every Saturday at this time, your friends at Take Point Wealth Management once again made their way into the studio just for you. As retirement warriors out there, they want to take point on your stress free financial future. Looking at the future in retirement, you're getting closer and closer. It's time now to start saving planning as well, because, as you know, a failure to plan is a plan to fail. I'm going to turn it over to the experts in the studio once again to professionals from Take Point Wealth Management, a well rounded team of individuals to help you. And in every aspect, all you got to do is ask three five to six one six zero five one one is the phone number. Check out. Out on line, take point, wealth management, just throw it in the old search engine on the computer and the interweb, take point to wealth management and we'll take you to take point wealth management on the Nature Coast all throughout the listening area of 1999. And we appreciate them every Saturday morning being in our studios to share the information that's so important to you and me.

Speaker2:
So let's dive into real estate a little bit more. Today's show, of course, public service announcement, the three asset classes to please stay away from, especially if you're a retirement warrior or getting ready to be one of our retirement warriors right now. You just got to stay away from real estate, you know, stay away from cryptocurrency and you got to stay away from physical gold and silver. And we're going to elaborate a little bit more on why we feel so strongly about that. Everybody reveres Mr. Buffett and we have a YouTube clip where Mr. Buffett and Charlie Young are talking about not investing in real estate, but of because it is generally market price, correctly or incorrectly. So maybe we can play up that little clip Mr. Buffett has has for us.

Speaker1:
Let's do it right now. Real estate is not a commodity. I think it tends to be more accurately priced, pretty developed real estate, more accurately priced most of the time under most conditions. It's it's hard to find real estate that's really mispriced. I mean, when I look at it occasionally, there have been some, you know, that could be big opportunities in the field. But if they exist, it will certainly be because there's all the probability to be a lot of chaos in real estate financing. For one reason or other, we've done some real estate financing and you have to have the money shot off to quite a degree, probably to get any big mispricing across the board.

Speaker2:
Interesting, yeah, so very interesting is the fact that sometimes, I guess, real estate moves so quickly, the people may or may not understand, but the value of your real estate or even the value of the real estate out there that you're looking to potentially purchase is changing every day. The price changes every day. And truly, when you buy something, you've got to have you kind of got to know what the intrinsic value is going to be for and even potential future value. So and then how is it really going to improve your retirement plan? Is it going to add cash flow or is it going to add more complications in life? And we want to try to keep our retirees and retirement plans simple and simplify your life.

Speaker3:
One of the things I you mentioned complicating your retirement, one of the things I see happening with my tax firm clients is as they approach retirement, you know, my clients will have investment properties that they run out. And, you know, I've had some clients have had some and myself have had some great success stories with rental properties, commercial, residential. And some clients have had some horror stories with tendencies trashing the place and not paying rent, and they had to evict them. So when I see with most of my seniors as they approach retirement, I think that somebody coming in the day, it's got a lot of rentals and we're talking about how we can can begin to slowly divest of those rentals in a tax efficient way, maybe do some 10, 30 wanted to some non income producing, probably just to hold for future sale and or just go ahead and liquidate everything, pay the tax and get into some other investments that are a whole lot less work, like being in the market, like annuities we've talked about so many times. The fact is this clients are very interested in annuities because, you know, they are in their late 70s, early 80s, and they while the husband was able to maintain the properties over 80 now and it's more difficult to do so, they do need to make that make those retirement years a lot easier. And sometimes getting out of real estate is the way to do that. So to your point about making retirement easier, you know, sometimes having rental property investment property in retirement can add to add some extra stress worry. And if you need to liquidate it sometimes when you need to liquidate, it isn't always the best time to get

Speaker2:
Out of it. That's what I was going to say, is usually when you have to sell real estate are you want to sell real estate. When nobody wants it, it's going down in value. Exactly. You know, so like so that just goes back to when you don't make the profit, when you sell it, you make the profit when you buy it. I tend to lean more on the contrarian side of things, probably, which is think the opposite of what the is thinking, what everybody else is thinking. The old adage you want to buy low, sell high. OK, so if you look at your property value four or five years ago and you compare it to today, man, it's probably a great time to be selling that property and diversifying out of that for now. In fact, I think we met with a couple of I would call local savvy real estate investors and recently and had that same conversation. And they're like, yeah, we're looking at selling right now. And that's you know, that's kind of following the herd is not always the best place to go. You know, if the herd is if this big herd of buffalo is running towards a cliff picture, this are all running towards a cliff because they think they're going to have some. But there's a cliff there. So you don't want to follow the herd over the cliff. Exactly. Separate yourself from the herd. Take a deep breath. Give us a call. Let's evaluate things and walk you through stuff,

Speaker3:
Because if you're in the herd, you can't tell you're over the cliff until you're over it.

Speaker2:
Exactly. Yeah. And then you're free falling. It's not a not a fun position to be in because once everybody starts dumping real estate, guess what? You're caught in that whole predicament where they're trying to lower your prices, to dump your state as well. So it's

Speaker3:
Very careful. Yeah, right. Right, right. Now there's, as I say, famo going on right near right now in terms of fear of missing out on buying real estate. When everybody's selling real estate, you're going to have this fear missing out of being able to sell. So everybody's going to be selling and trying to get out. And and here again, if you're in the market and you need to liquidate your position here, you push a button and it's done and it happens that quickly and easy when you got real estate, especially if you have commercial property, especially if it's not developed. You could be sitting on that for a long period of time. Just be careful.

Speaker2:
Yeah. Let's shift gears of this cryptocurrency thing. I mean, this new rage and hype, every I noticed, like every couple of years, it, like, rears its head and becomes popular. And because we had Mr. Elon Musk, the owner and CEO of Tesla and SpaceX and all that, he was kind of, I would say irresponsibly, in a sense, running his mouth about, oh, you know, Bitcoin and Dogecoin and all these things. While he later on admitted that bitcoin, not Bitcoin, but dogecoin is nothing more than a scam and hype. Yes, we saw a lot of here's the thing that worries me. So this is FAMO as well. This is the emotional fear of missing out. I actually was on a. Conference call with a client who's in her 60s. She's always been fairly moderate, conservative type investor and worried about the markets and things like that, yet she and her husband were considering, hey, we should be buying, which we think we should buy some bitcoin. Here they are in their 60s. And I said, really? I said, well, how would you have felt if you bought it two weeks ago when it was at its all time high and you were rushing in like everybody else was in because of the fear of missing out and now and now it reversed itself. It's down 40 percent bitcoin. You've got a lot of the big experts, Mrs Yellen and the Federal Reserve, they're all coming out and saying, look, this is still the wild, wild West. There's real no intrinsic value there. Maybe in the future. And even our government is kind of looking at do we want to go to some type of electronic currency? But that's so far in the future, folks, that this is pure speculation.

Speaker2:
It's pure hype. It's gambling. Yeah, sure. There's people that have made a lot of money just because they've been gambling and they hit it at the right time. Bitcoin goes down, back down to like ten thousand a coin maybe, but it got as high as almost 70000 a coin. And now it's back trading around in the 30s today. And it moves fast and it moves quick. And you can see 20, 30 percent moves up and down. It's like I said, it's all gambling, it's all speculation. And then all these other cryptocurrency is like dodge coin and light coin. And, you know, all these Ethereum, like all these things are still just the wild, wild west. And you know what we're seeing as more people get hurt by it than than they do actually benefit from it. And there are ways that you can get exposure to it in a more I would say, not risk free at all, but a more cautious way. You can call us and reach out to us, send us an email, give us a call, explain some of that to you. And you know where we think that if cryptocurrency belongs at all in your portfolios, where to take some exposure to it, but don't believe the hype. It's still a very dangerous asset class to be in. We would say, you know, steer steer clear away of it. If you don't take our word for it, then I think we have another clip from Mr. Buffett. Maybe he'll take his word for it.

Speaker1:
Now, let's see what Mr. Buffett has to say on it, as well as Mr. Unger here. Let's see. The computer science behind Bitcoin is a great triumph of the human mind. That's what captivates all of these people. They've actually created a product that's hard to create, more of, but not impossible. That is very peculiar. But they've managed to do it. So a lot of good computer science people love it just because it's such an extreme achievement of computer science. I, of course, have no interest in that because it's not my subject. And I see an artificial speculative medium and people are buying just because they think they can sell it to somebody else at a higher price, even though it inherently has no intrinsic value. And so I regard the whole business is anti-social, stupid, immoral. It's not having any desirable social purpose.

Speaker2:
Boom. There you go. So kind of what I'm leading up to as well. I mean, you know, I don't know, getting into morality and stuff like that, but it's just speculating. You know, you're hoping to dump this on somebody else someday and make some price appreciation. But at the same time, there is no value. There's no value there. Something that you trade and buy and sell has to have some intrinsic value and it does not. So just stay away and let the young one, EYLES and computer jockeys play with it and do what they want to do. But right now it's just not. In fact, I read an article which was interesting to me about cryptocurrency, how our government is really looking at this very, very closely now and how they can regulate it, how they can tax it. So and that is contrary to why people were attracted to cryptocurrency in the first place. The reason cryptocurrency took off in the first place and people liked them so much because they were they were not regulated, OK? It was kind of a black market type exchange of value. If all of a sudden our governments jump in and start regulating it and taxing it, that takes away the whole purpose of it, in my sense, the value of it.

Speaker2:
And so I think once that starts to happen, that's really going to get hammered in price. Once the governments of the world want to jump, get in on it and start cracking down on it. And so I just still think that it's way too speculative. Like I said, if it if it if it's a trading, it's a trading. It's a trade gambling type thing where people are trying to pick it up low and sell high. So, yeah, you know what if it goes way, way down to like 10, I think a couple of years back, it was like ten thousand dollars a coin. You know, maybe you might throw a little money at it. I'm not telling you to do that. But at these levels and of course, you'll Google it and all these people that are hyping it up will tell you all this is going to 200, this is going to 500. Now's the time to get in. It's your money. And but I would say completely stay away from that. It's just it's not not

Speaker1:
Is the same as once again, like you mentioned earlier, with gold, you can't walk into a Publix and buy a loaf of bread or a gallon of milk with

Speaker2:
Cryptocurrency. Can you? Well, no, not nobody's accepting it right now. It's more of just an exchange thing on the black markets and.

Speaker1:
Well, what backs it up that

Speaker2:
That's just nothing, right? There's no intrinsic value to the government.

Speaker3:
Guns, people forget it.

Speaker1:
I mean, I'm not as old as some, but I just don't quite understand. I can't grasp it. It just doesn't make sense to me. Well, it's

Speaker2:
It's it's sucked billions of dollars out of the system or people have been taken advantage of. And I think just this past week it was like 700 billion dollars in value was lost in it. So it's like somebody lost that. Somebody out there lost that. Seven hundred and something billion dollars.

Speaker1:
Sounds like a scam to me.

Speaker2:
Yeah, in a way it is pump and dump. It's a scam. And, you know, it's crazy to me that our SCC and the government will highly regulate like publicly traded companies. I mean, to the nth degree, it's like obnoxious. But yet this is still gone on regulated. And it's not even a stock. I mean, it's just has no value at all. It's kind of ridiculous. The only reason people want to get involved of it is that is that emotion, that greed factor. You know, greed is getting the best of you and sometimes it will get the best deal.

Speaker1:
And I think there's even something called Dodge Coin where Elon Musk from Tesla came out and said something. We'll get to that in just a bit. Time ran away. I didn't realize what time it was, but we're going to take a quick break, OK? What the heck, man? We got to hear from our sponsor.

Speaker2:
All right, so we're going to do that. Take a quick break and be right back, folks, with

Speaker1:
This radio show every Saturday at this time and only on this station called Take Point on retirement from take point wealth management up and down in nature, because within our listening area offices to serve you, you can reach out electronically to them as well. Take point. Welcome. Give them a call. Three five to six one six zero five one one. By the way, if you have more questions about cryptocurrency, you can email them at info. That's info at take point on retirement dot com. Send your questions there. We may be able to address them on future shows every Saturday from seven thirty eight thirty right here. Take point wealth management, the professionals in the studio for you. We'll be back after this break. Let's take a pause for station identification. You're listening to 1999, RFM, WAAX, Jabe, Homosassa. Are you looking for financial peace of mind? Simple investment advice, planning a portfolio management estate trust retirement? Look no further than check point. Wealth management, investment and tax advisors can lead you into retirement and beyond to protect your assets. Investments in retirement dreams. Sticking points in your financial future. Take Wealth Management is ready to take point on your retirement, leading you every step of the way. Take point, wealth, dotcom and needless to say, up and down the nature coast and take point wealth management here locally. By the way, you don't have to contact New York City, not even Miami. Because they're right here along the Nature Coast to serve, you take point to wealth management, judiciary services with a well rounded team of professionals to help you in any type of situation, your end as far as a financial free future. And retirement is concerned that stress free retirement is what it's all about through take point wealth management. And that's why they provide this program each and every Saturday at this time. Take point on retirement. They want to take point for you and lead you into that stress free retirement. Good friends. Eric Garnette, lead advisor, retirement planner and certified public accountant. Randy Woodruff, also licensed in real estate. Here to talk more about some of the issues we're hearing about in the news.

Speaker2:
So boom, cryptocurrency still, you know, why did the cryptocurrency run up? So much so. But Elon Musk was tweeting and so he put out some messages about Dogecoin. And what's interesting to me is a Dodge coin was actually created in 2013 as a complete joke as just as just a joke. And therefore the not on the Dodge coin. So it wasn't even anything real, was just set up as a joke. And now the joke's on us. It's actually the fifth largest in market cap and a cryptocurrency. It's got a 70 billion dollar market cap. Wow. And it's nothing but just a joke, a scam. It's just there's nothing there. I mean, there's no value there. It was set up as a joke. And so this is what's crazy to me. And, you know, Elon Musk comes on, does a few tweets and then, you know, he was going on Saturday Night Live or something like that. So everybody was anticipating that he was going to say something about Dogecoin. So the price ran up. I went about 800 percent. Wow. And one month. And then on the if if people can see you remember the Saturday Night Live skit he basically alluded to. He played a character on Saturday Night Live and he basically alluded to the fact that it's ultimately in alchemy. He admitted it's just a hustle. And you think about the people that are on the other end driving this and how much money they're making. And, you know, it's insane and it's just basically taking money from one person and giving it to another. I mean, that's what it is, you know, so

Speaker3:
And we've talked about this cryptocurrency in this show and others. And and as we talked on in the show for months and months and months, by having a stress free retirement and putting your money in assets that you can avoid the volatility of nice, steady returns, crypto, you know, dogecoin, bitcoin, all these things are definitely not an asset if you're looking for a stress free retirement that you want to put your money into, because, you know, the volatility is like nothing we've ever seen before on a daily basis. And so, you know, if you're again, we've been talking on the show for months and months and stress free retirement and finding a nice safe plan, cryptocurrency is a part of a safe plan. If you get some extra money and you don't care if you lose and you're going to gamble with it, OK, but it needs to be. And very, very, very minute percentage of your overall overall net

Speaker1:
Worth, it seems like to me it's like the most aggressive investment you can do.

Speaker2:
Yeah. It's just it's not even an investment. It's it's it's like gambling. It's like Internet gambling. I mean, that's really what it is.

Speaker1:
And you build a house, you've got to have a foundation. A foundation has got to be level. Right. So your retirement's got to be level as

Speaker2:
Well as an example, probably hundreds and thousands of cryptocurrency now, which were all developed as basically scams to get people to put money into them. So the people that created the coin can extract the value of an account. So Randy and I can start our own our own cryptocurrency if we wanted to. And then you pump it on an app and everybody has access to the block chain technology and you basically pump your own coin if you want to start out GB coin, you can. Yeah, it's that's how crazy it is. So so this thing, I think we're not far behind, especially when you start when the US government like Mrs. Yalon and and the Federal Reserve and all then start talking about it's we we think this is disgusting. We don't like it. It's more crack. We're going to crack down on it.

Speaker3:
And the regulations coming. Yeah.

Speaker2:
Regulations coming

Speaker3:
From. And we and you talk about Elon Musk and Tesla. I believe I'm going to you know, time flies maybe three or four or five or six months ago, Tesla had said they were going to take Bitcoin as a form of payment for their cars. And recently they backed out of that. Mm hmm. Interesting. It's interesting to, you know, why did they take it? Why are they not taking it? You know, was there a you know, here again with Elon Musk has 50 million Twitter followers. Was it just just for him to get in and make a bunch of money and sell it as well? I'm not saying he did that, but it's just interesting how people that have a platform can move markets with what they say. And it's the typical is just for their own personal gain or benefit and not not for the benefit of the people that are listening and reading.

Speaker2:
And by the way, when he was pumping it with his little comments and stuff, he was selling it. So he was making money on everybody going into it.

Speaker1:
So you want to hear the little clip? It's only ten seconds. Yeah, yeah, yeah, yeah. This is Elon. On Dogecoin, and I believe this was during the Saturday Live segment, so here we go and I'm

Speaker4:
Excited for my Mother's Day gift. I just hope it's not Dogecoin.

It is. Doris.

Speaker1:
I didn't get to see that.

Speaker2:
It was a skit like Ellen was going to give us Mother Dogecoin for Mother's Day, and she said, I hope it's not the call. Yeah. So get a chance. Look at the skit. But no, I mean, that just goes to show you if one person can come out and throw some tweets and then, you know, make a couple of comments on Saturday Live and drives the price up 800 percent. And then the following week it went down 40 percent. Just on the fact that I don't know, I guess people don't like, you know, his comments on saying a lot. And he thought maybe he was going to come out and say something more concrete or valuable like this is a real deal and it's going to get better and I start accepting it or whatever. But it's just a joke. It's just a tradable joke

Speaker3:
Back to something that we had a situation that we run into. It appeared in the conversation yesterday with a client. And there's just there's a lot of noise and a lot of clutter and a lot of chatter going on out there, whether it be in the financial markets or real estate market. Everybody has an opinion. Everybody has an idea, but everybody thinks they're an expert. You need really need to kind of tune all this other stuff out, you know, and listen to the facts and get the facts. Educate yourself. And again, just think about the assets that you're buying when you're buying them. Yes. We've talked on this show about about buying bonds and how not how you should be buying bonds now. And, you know, if you're listening, just think about this. If you bought a house and you've had to finance it in the last two or three or four years, you're probably wondering yourself, how can rates be this low? Your rates haven't been this low in in probably at least in our lifetime, you know, and they've stayed low for a long time. How can it be this low? How can the banks actually make any money at rates this low? So if you're buying bonds, guess what, you're now becoming the bank for a company or if you're buying bonds.

Speaker3:
So if you're thinking to yourself you're getting a mortgage, how can the banks make money with interest rates as low? You should be thinking the same thing if you're buying bonds because you're the bank. That's what we had been buying for months and months now about not buying bonds or getting out of bonds because rates are so low. So here again, back to cutting it out of the noise with with you listening to these tweets or else you have to cut the noise out and you owe it to yourself to get educated and learn about learn about what you're investing in and have a good, solid plan and don't just get moved by a tweet or story or something that you read or where you hear a friend bought a piece of property and they flipped it and made some money in this market right now. We talked earlier becomes real estate.

Speaker2:
It's not that easy. Yeah. And it's because they timed it right. And we're fortunate. It doesn't mean you are. Mm hmm. The other thing, the crypto currencies are one thing, but people tend to prey on people's fears with marketing and advertising. And and just to kind of allude to, it's so confusing for folks kind of allude to and talk about a little bit more about Randy was suggesting is the noise. So we actually had some new clients in our office the other day. And I could generally see the confusion, the fear on this lady's face and even her voice. She was like, Eric, we hear so much stuff, we don't know what to do. Or so confused. Annuities are good. Annuities are bad. Don't buy annuities. It's OK to buy and sell bonds, don't buy bonds, go into bonds. You should be in stocks. You shouldn't be in stock. Real estate. It's time to get in real estate. Oh, gold and silver. Maybe you put the money and go and saw all these social media news outlets, advertisements, commercials, someone just trying to sell you something. And so because one person says don't buy annuities doesn't mean that he's got the he's got he knows something that you don't know or I don't know and vice versa. You have to like I said, you just have to educate yourself. And eventually you've got to you have to trust somebody that has the experience and the knowledge and what's we're going to say this word of fiduciary folks, none of these people selling gold, so and so we're selling cryptocurrency, selling their do solutions. So we are fiduciaries. Get with a fiduciary if you don't get with us because that a fiduciary has your best interests in mind.

Speaker2:
They're not making commissions on sound is some kind of garbage and pumping and dumping you. You know, they're going to do the right thing for you by law, by compliance, ethically, morally. A fiduciary has to act on your bet, on your on your behalf, has to put your best wishes forward first. All these other brokerage firms, you call up a broker and say, hey, you know, I need income, OK, I'm going to sell you this. Real estate investment trusts, it pays eight percent out of taxes. It's called blah, blah, blah, whatever they invest in real estate. Oh, sounds good. And next thing you know, you got that eight percent dividend check one month. But the actual value of the real estate went down a half. We've seen we've seen people lose a lot of money that way because the broker doesn't care. He's not a fiduciary. He's just he's an order taker. He's going to sell you whatever he can make. The highest commission, which, by the way, on REITs, real estate investment trusts, huge commissions. That's why the brokers sell them. So we're not brokers. We don't get paid any commissions. We're fee based. Only if your account goes up, our fees go up percentage wise of your counsel. We're in the game with you. We sit on the same table as you. It's almost like we're managing our money as well. It's our money that we want to protect. And so just be very, very careful. We've been talking about physical gold and silver forever, but don't take my word for it. Play this clip about it and let's talk a little bit about that. OK, here we go.

Speaker1:
Physical gold and silver. We got a little clip here for your enjoyment.

Speaker5:
People who are buying gold are paying less for it than the people who are selling gold, because typically you have to sell dealers and they're obviously getting a better deal from you than you're getting from them. The other thing I realized was that there's a lot to know about buying physical gold and silver, and it's really easy to get screwed. But this sort of thing, gold bars, silver bars, this is an unnecessary investment. It's like I said, when the stupidest investments I've ever made.

Speaker1:
Wow, boom, they're pretty bad.

Speaker2:
Yeah, yeah, yeah. They're pretty. Yeah. You can leave them to your kids I yes. If you want. And then they can hold them forever to. Right. Good luck trying to sell it because when you do sell at the take what they call the take down or let's say, let's just say it's trading at a thousand an ounce. Well someone's going to give you seven hundred now so they can make a profit on you. You're not going to get what it's worth. So people, please, there's better ways to safely invest your money to get good returns and not have to worry about holding physical gold and silver. So we talk about all the time we have the smart financial plan for you, which is our smart risk, plus our smart, safe tax plan. So especially now more than ever, I think with all this hype and noise and all this crap going on, Canfield's. People need us, whether they like it or not, they need us more than ever now, they didn't need us a year ago or two years ago, three years ago, but now they need us more than ever. Volatility's picking up in the market. Stocks are starting to get overvalued in certain sectors. Bonds are extremely overvalued and losing money.

Speaker2:
The aggregate bonding tax is down like four percent already this year. We've been predicting that for a long time. You have to find ways of getting your income in a safer way. If you're in retirement or getting close to retirement, you cannot afford not to come in and see us because you cannot afford to lose any money in the next three to five years, OK? You can't lose money in the next three to five years. So if your portfolio dips and you're taking distributions from at the same time, just imagine the money that you're going to make to get that back. We want to protect your hard earned money. We want to put a plan in place for you and protect you for the long haul. And we'll show you how we do it. It will build that educational build. That confidence will build that clarity. By all means, stay away from all this garbage. We've talked about beating bank CDs. Avoid investing in a bank city right now as well. They're only going to pay like zero point zero five percent, maybe up to six point six percent with the Internet banks. I mean, this is unbelievable, right?

Speaker3:
Let's buy a five year. I mean, five years is

Speaker2:
A long time to think about it. They're taking your money. It's just sitting there. It's deteriorating. You're losing money because, by the way, inflation came in at four percent last year.

Speaker3:
The best year last month. Yeah, last year was about a six month.

Speaker1:
Yeah, yeah, yeah, yeah.

Speaker2:
And so I

Speaker3:
Think a big increase in one month.

Speaker2:
It's massive. But think about this. The value of the dollars also decreased with with our government pumping four trillion, trillions of dollars that devalues the dollar. So your dollar bill that you're holding in your hand right now was was actually worth about 70 cents on the dollar. Now it's gone down another 30 percent this year. The actual intrinsic value of the dollar, your dollar is now worth maybe sixty cents. Fifty cents, folks, that might be a trend that continues, but

Speaker3:
It's like everything you say is like everything. The more of it there is, the less valuable it is.

Speaker2:
Yeah. I mean, if you're scared and I understand why you're scared, you don't know where to put your money right now because there is so much uncertainty. Then look at them. We've talked about before. I look at a multiyear guaranteed annuity Amiga, which is a fixed annuity or even a fixed indexed annuity that we've talked about. Call us and get the book Annuity 360. Educate yourself on the types of annuities that are out there. I know a company, CELAC Insurance. They're offering two point one five percent tax deferred right now on a three year American equity, two point four percent America, three point zero five percent. So we talked about on the last show our folks in an index annuities 2019 may as high as twenty six percent in their accounts. Some of the folks made last year close to seven percent, eight percent. And that was taking no risk in an index annuity. So there's awesome ways that you can get great returns, good exposure and continue to be on the right path with your retirement plan. And you deserve better than getting ripped off at the bank. Get in here, talk about it, and let's let's look at some of those alternatives for you. Be careful investing in bonds right now. We've talked about it. Consider that bond replacement strategy that we talk about so much. You got to kind of stay away from bonds right now. Not kind of you have to I'd like to play that Chapter 15 of the nearly 360 book. Again, Replace Your Bonds with a fixed index annuity. If we could do

Speaker1:
A quick break and we'll return with that right off the bat where we take point. Wealth management, the professionals in the studio. Once again, Eric Arnet, lead advisor, retirement planner, certified public accountant, Randy Woodruff, also licensed in real estate. And that's what we're talking about today, real estate, cryptocurrency, bonds and all the issues that concern you with a well-rounded, safe, secure, active portfolio of judiciary services up and down the Nature Coast through Take Point Wealth Management, a show called Take Point on retirement every Saturday at this time. And we will return after we hear from our sponsor folks right after this. And don't look any further than the Nature Coast, because the professionals are here from take void wealth management every Saturday at this time, one hour chock full of the information you deserve, the education you need for a stress free retirement and a stress free financial future. That's what it's all about. Fiduciary services through take point wealth management, their phone number three five to six one six zero five one one or two point wealth dotcom. Just throw any old search engine there on the interweb, take point to wealth and it'll lead you to take point. Wealth management offices up and down the nature coast beginning to wait. You're going to need all that information handy because they have a book that they want to give to you is called Annuity 360. And we've got a little clip here. We want to play for you out of that book from Chapter 15. It talks about bonds, annuities, 360 call and request that book for free to all of our listeners here at Take Point on retirement. Lead advisor retirement planner Eric Arnet in the studios, along with Randy Woodruff, certified public accountant, real estate professional as well, part of that well-rounded team at take point. So we want to get right into this area.

Speaker2:
Yeah, let's do it. I'm going to stick with this theme for a long time. Be careful investing in bonds. And if you are investing in bonds, you should have got out yesterday and come see us about the alternative and what we would do differently. And we'll wrap the show up a little bit on our strategy there and just be completely transparent with folks. Annuity 360 book is an awesome book. We're offering that free to folks. I got to do is get a hold of us, email us, call us, send us some info and we'll get that book right out to you. Had a lot of requests

Speaker1:
For it already, but there's always one

Speaker2:
More. I think it's just a great, great tool for folks to to get educated on now more than ever, that old conventional portfolio that you just been used to and you have currently, it's not working. It's not going to work for you going forward, folks, so. Well, yeah. Let's play that chapter fifteen. I think it's a great a great chapter to hammer home about replacing your bonds with a fixed indexed annuity. Well, listen closely, folks.

Speaker1:
Chapter 15, bond replacement with fixed indexed annuities. Big idea. Historically, bonds have seen volatility when the market is volatile. Fixed index annuities are not subject to the same volatility, which makes them a much safer investment. You might have heard a financial adviser talk about replacing your bonds with annuities to protect your wealth and grow your retirement funds. And my firm Active Wealth Management. We believe this is a smart way to protect your future. Many people have learned that bonds are a safe way to invest your money. But there are some downsides to bonds that should make you think twice. We'll talk about some reasons why you should consider replacing your bonds with annuities. First, here's some information on the history of bonds in the United States. Historical bond volatility. The 1900 saw two secular bear and bull markets in U.S. fixed income inflation peaked at the end of World War One and World War Two due to increased government spending. The first bull market started after World War One and lasted through World War Two. The U.S. government kept bond yields artificially low until 1951. The long term bond yields were at one point nine percent. In 1951, they climbed to nearly 15 percent in 1981. In the 1970s, globalization had a huge impact on bond markets. New asset classes such as inflation, protected securities, asset backed securities, mortgage backed securities, high yield securities and catastrophe bonds were created early.

Speaker1:
Investors in these new asset classes were compensated for taking on the challenge. The bond market was coming off its greatest bull market. Coming into the twenty first century long term bond yields declined from a high of fifteen percent to seven percent by the end of the century. The bull market in bonds showed continued strength in the early 21st century. But there is no guarantee with our current market volatility that this will hold see chart fifteen point one to see the incredible difference of investing in a fixed index annuity versus investing in bonds. Why you should consider replacing your bonds with annuities. The first question you should ask yourself is this why would you take market risk with your bonds when your bonds can lose their value? If you just look at the history alone, you can see how uncertain the future of bonds is. Inflation and fluctuating interest rates play a big role in bond yields. Interest rate risk of bonds, bonds and interest rates have an inverse relationship. When interest rates fall, bond prices rise. Due to the covid-19 pandemic, investors have moved their money to bonds because they believe it is a safer investment option. However, this has caused bond yields to fall to all time lows as of May 24th. Twenty twenty, the ten year Treasury note was yielding point six four percent and the 30 year Treasury bond was at one point to seven percent.

Speaker1:
Reinvestment risk of bonds. This is the likelihood that investments, cash flows will earn less in a new security, for example, an investor buys a 10 year, one hundred thousand dollar Treasury note with an interest rate of six percent. They expect it to earn six thousand dollars a year. At the end of the term, interest rates are four percent at the investor buys another 10 year note, they will earn four thousand instead of six thousand annually. Consider the possibility that interest rates change over time when deciding to invest in bonds systematic market risk. This refers to the risk that is inherent to the market as a whole. It will affect the overall market, not just a particular stock or industry. This can be unpredictable and it is impossible to avoid diversification cannot fix this issue. But the correct asset allocation strategy can make a big difference. Unsystematic market risk. This type of risk is unique to a specific company or industry similar to systematic market risk. It is impossible to know when unsystematic risk will occur. For example, if someone is investing in health care stocks, they may be aware of some major changes coming to the industry. However, there is no way they can know how those changes will affect the market. There are two factors that contribute to company specific risk business risk.

Speaker1:
There are two types of risk internal and external. Internal refers to operational efficiency and external would be similar to the FDA banning a specific drug that the company sells financial risk. This relates to the capital structure of a company. A weak capital structure can lead to inconsistent earnings and cash flow that can prevent a company from trading reduced advisory fees. Investors who trade individual stocks may know how much commission they are paying their broker, but individuals who buy bonds often have no idea what type of commission they are paying. Bond dealers collect commission on bonds they sell called markups, but they bundle them into the price that is quoted to the investors. This means you are unaware of how much commission you are actually paying. Standard and Poor's estimates of bond markups is zero point eighty five percent of the value for corporate bonds and one point two one percent for municipal bonds. However, markups can be as high as five percent, up to fifty dollars per bond. Bonds have finite durations. Bonds only provide income for a finite amount of time. Unlike an annuity which provides income for life. You must reinvest your money if you want to continue generating interest with bonds. However, reinvesting with a bond can sometimes come at a loss. As we discussed above, annuities will provide you with an income you can never outlive. Wow, a lot of information there.

Speaker2:
Boom. There you go. The long segment, but a necessary one. Yes. And that's our good friend George Stokes out of Atlanta wrote the Annuity 360 book. I think it's one of the best books that just it's amazing to me, one of the first ones out there that just really break down annuities and all the different types of annuities and in a very easy way to understand, definitely we actually had a client that read the book that really isn't even that well versed in English. And she got it. She loved it. And she thought it was really informative. So easy to understand. Great book. It's free, folks. I mean, all you gotta do is take about a minute and go on your computer or give us a phone call or email it right out so you can get a hold of us on the website. There's an opportunity to send me an email there, or you can go on there, set an appointment and just put in the notes that you want a free book. You can email me directly, you can call me on the phone, get a hold of one of our guys in the office and let them know that you want to book and give us your information. We'll get it out to you. So usually what I do is I say, hey, read the book, and then if you have any questions, let's chat about it. We don't even have to get together.

Speaker2:
We can talk over the phone. We had a guy up in the villages, you know, we've been chatting about it. So I think it's awesome that people get educated on it. So a moderate portfolio for retirees is typically that 60-40 portfolio. Sixty percent securities. Forty percent bonds. That's a moderate portfolio. And I guarantee 95 percent of everybody out there listening is in that type of portfolio right now. So the new 60-40 type of plan that you should that you really should jump on now you have to do it now. The old 60-40 is just not going to work for you going forward. The new 60-40 is 60 percent stocks that we tactically manage between growth, value, small cap, international. And so right now, for instance, you have to have a tactically managed portfolio because growth is starting to sell off in value, is becoming a better place to put your money cyclical stock. Do you go into energy to go into technology? Where do you put your money? So we do that for you. We do all that tactical investing for you. If the markets go into a straight decline or if the markets are deteriorating based on economic data, we're going into recession. We get out of that. We can tactically move the assets and get them out of danger. So we tactically manage the portfolio for use on the equity side, 100 percent equity. And then on for your bond side, you got every.

Speaker2:
Place with the index annuities, the fixed index annuity can generate income and they can also grow with market like gains without that market risk, right? That's the big thing. And they're all guaranteed fixed index and these are guaranteed and they're based on the paying ability and issuing annuity company. All annuities are backed by 100 percent reserve. Your money in the bank is not backed by 100 percent reserve. So therefore your money is much safer in an insurance company. They're also required to reserve that 100 percent. And then they also have to invest your money in U.S. Treasury bonds or financial products that are very safe. So your money is absolutely safe. The big thing is that we showed some clients the other day as an example, a million dollar portfolio, 600000 of it, 60 percent is in securities, 40 percent or 400000 in bonds. These people are paying about one and a half percent annual advisory fee. We found that one and a half percent, they didn't even really know that they were paying that, but we extracted that out. So that's six thousand dollars a year. Right. So that fee over 35 years is to ten thousand dollars. That's a lot of money. But so imagine if we replaced 40 percent of your portfolio with an investment like an index that has, by the way, folks, no fees, no expenses, zero. So your yearly advisory fee is a big fat zero. So fees over 35 years on the 400 thousand portion is a big fat zero.

Speaker2:
So that's a massive savings. And your retirement average rate of return. If you have a traditional if you just have a traditional moderate portfolio going forward, I just don't think the returns are going to be there to get you where you need. So need to be throughout retirement. So we've got to put together some different strategies. And we ran this portfolio out 35 years for this guy and found that in this example, the bond portfolio value, after 35 years, we would have saved him one point three million dollars. And the example in the FAA after 35 years was four point one million dollars. So it's a growth difference of over two point eight million dollars and also saved all those fees to around 10000 fees. So huge, huge, huge opportunity to get out of those old conventional portfolios or get in and see us. But show you how we did. We did a 10 year illustration for the new select and only fixed index annuity. And he's about 55 years old. And we showed him over a 10 year deferral that this Raven Pack index averaged about ten point five, three percent. And I just personally ran that for for an executive that we're working with. So great opportunities. Don't just hope, folks, that what you're in currently is going to work because it's probably not going to get in and see us.

Speaker1:
Ok, that's a smart plan and that's an actively managed plan through Take Point Wealth Management. Eric Arnet, lead advisor, retirement planner. If you've got any questions or you need to contact them, then do it now at three five to six one six zero five one one. Don't forget to ask for that Annuity 360 book. They have plenty to share with you and it's very important something you need. They'd love to see you stop by their offices up and down the Nature Coast. They also do seminars via web or in-person. But the thing is, is that they are in person and ready for you here within our listening area. So we work on at lead advisor retirement planner Randy Woodroffe, certified public accountant, real estate extraordinaire, just a well rounded team there to help you. Just two of those members of that team on take point on retirement. Until then, have a good Memorial Day. God bless you. And we'll see you next week right here on Take Point on retirement from tech point, wealth management, three five to six one six zero five one one. Don't delay call today.