Episode Transcript
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Speaker 1 (00:03):
Why From the ws iHeart Studios. Welcome to the Retirement
Planning Show with your host Dave Kopak from the Retirement
Planning Group. Every week, Dave Kopak and his team discuss
the ways they can help people make informed decisions about
a wide array of retirement planning information that can support
you in developing a more certain financial future for you
(00:25):
and your family. Now it's time for the Retirement Planning Show.
Speaker 2 (00:34):
As the snowfly.
Speaker 3 (00:40):
On a cold and gray Chicago lawn in a pool,
little baby child is born in the geto.
Speaker 2 (00:47):
All right, good afternoon, all of our listeners in Syracuse.
I'm Dave Kopek, your host. I'm here with my son
Christopher Way. Today. This is the Retirement Planning Show. This
is as I say every week talk radio. This is
(01:08):
in babble Radio. We're here to hopefully help you, educate
you and inform you about the obstacles that you face
during your prem post retirement years, and hopefully answer some
of your questions. I give out the telephone number. It's
three one five four to two one ninety seven ninety seven.
That's three one five four to two one ninety seven
(01:30):
ninety seven. Any question at all, whether it's on the markets, investments, iras,
whatever you may have. Hopefully we can direct you or
give you the answer that you're looking for. Again, the
telephone number to talk or a very competent engineer is
three one five four to two one ninety seven ninety seven.
(01:51):
If you're not familiar with the Retirement Planning Group, all
we do is pre and post retirement planning. We have
five locations in New York. We have Oneana Sarah Aubany, Saratoga,
Glen's Falls, and hopefully we can help you and direct
you and put you in a better spot. So I
know that there's a lot of people out there nervous,
(02:14):
and I don't blame you for being nervous because anytime
you go through market volatility like we've gone through, it's
not fun. But I can tell you one thing, don't
try to time the market because it is something it's
going to be unfortunately, a very costly mistake for you
if you try to do that, because the numbers basically
(02:35):
say it can't be done. And avoiding the markets downturns
may mean missing out on some of the significant ups
that we have. Seventy eight percent of the stock market's
best days have occurred during a bear market seventy eight percent.
So if you miss the markets ten best days over
(02:56):
the past thirty years, your returns would have been cut
in half. So bottom line, stay fully invested, make sure
you got enough money sitting on the sidelines, and like
anything else, stay within your asset allocation. Stay within your
asset allocation. And as I've always said over and over again,
(03:17):
it always helps to have a financial team. There's all
sorts of data, there's all sorts of information on how
a financial team can help you and assist you and
met you better returns. You do not want to allow
your emotions to basically dictate your decisions, especially when you
go through times such as this. You agree there, my son,
(03:38):
Christopher William I do.
Speaker 4 (03:40):
I think you know having there's a good client piece
that we got from one of the wholesalers that goes
over the benefits of a financial advisor and a team,
and you know, the the outperformance you get by utilizing one,
and there's a lot of factors that are involved. You know,
not only just the guidance and advice and information that
we get on a day to day basis, but also
(04:01):
the institutional shares, the share classes. You know on a
mutual fund basis that we have access to that. You know,
just doing it in a regular retail shop does not
grant access to So yeah, there's a lot of benefits
to it. I totally agree. And you know, knowing your
your risk profile and where you want to be within
(04:23):
your asset allocation, letting your team know that and then
having them follow the steps. It's not you're not You're
not segmenting your your assets to someone else. They have
to act in a fiduciary capacity in order to facilitate
what you want to do with the money. So it's
just an added help.
Speaker 2 (04:42):
Well, trillions of dollars have been erased in value, you
don't want to book it. That means if you sell
the position, you've locked in your losses. So what you
want to do is that you want to basically look
at your positions, make sure that they're appropriate for what
you're trying to achieve, and like we always say, make
(05:05):
sure your buckets of money are appropriate as far as
how much cash is sitting on the sidelines. Now, we
talk about this all the time, why it's important to
have cash positions. We like to have anywhere from twelve
to eighteen months of net cash. So if you're taking
let's say five thousand dollars a month off your portfolio,
(05:25):
you want to have somewhere between sixty thousand and eighty
thousand dollars liquid in your money market account so your
dividends keep on replenishing it. But when you go through
times like this, you don't have to sell positions in
order to facilitate what you need for income. So I
know that my son basically goes over this a lot
(05:47):
of times with prospective clients. So when we set up
the buckets of money, Chris, typically what we want to
do is what we want to get the people in
sooner than later, typically three to five years before they
actually retire.
Speaker 4 (06:00):
The the red zone as you call it, is about
five years out from retirement, you know. We that's kind
of the sweet spot for talking to folks if they're
looking to retire at sixty two sixty five, getting them
in three to five years before going over you know
how they're four to one k's or whatever they're currently
(06:22):
investing in on a paycheck to paycheck basis, going over
how that's invested, seeing you know where their risk is
at what they're currently investing in and then starting to
roll that money out if they're over age fifty nine
and a half, and start building out, you know, buckets
of money for them through the three bucket approach to
where when they say audios, see you later, I'm retiring,
(06:46):
that their money's already working for him. It's a seamless process.
The account can get sent right over to you know,
their financial advisor team, and you know, it's smooth sailing
from there.
Speaker 2 (06:57):
Yeah. One of the other things, too, is that we've
talked about this all the time, just so you're aware.
If you are employed by XYZ Corporation, let's just say
National Grid, use that as an example. If you're over
the age of fifty nine and a half, you have
the ability to roll over your four oh one K
program to a self directed IRA through your financial team.
(07:20):
Why is that important because then you can start building
out that buckets of money that Chris talked about and
allows you to start building out the strategies that you
want to utilize during your retirement years in order to
facilitate the income that you desire. Now we all know
that there's a huge difference between accumulation versus retirement income distribution.
(07:41):
For a lot of individuals, it takes a while for
them to grasp the understanding for them to basically take
that whole different approach. Now, I need to create a check.
I'm not receiving a check. I'm gonna have to create
a check that will last me, possibly for three decades.
And if that is the case, you want to make
sure that you have it set up right on the
(08:02):
front end, because if you do not have it set
up properly on the front end, basically what happens is
that you're going to have to make changes. You're gonna
get nervous, You're gonna make decisions that are not necessarily
in your best interest long term, maybe short term. But
the thing is that we all know that you want
to basically put yourself in a position that when these
(08:23):
types of events happen, when there is this type of
volatility in the market, you're not basically throwing the baby
out with the bathwater. You're not gonna say sell go
to cash, because that's the worst thing you can do.
Speaker 4 (08:35):
Yeah, trying to time the market is never necessarily something
that anyone would recommend. It's very difficult to do, and
it hurts you in the long run. As far as
an overall return, just you know, from a number standpoint,
but knowing the buckets and money in going over them.
The first bucket is always your cash and your cash alternatives,
(08:58):
which money market funds, you know, any type of T bills,
m ygas, so any assets that are you know certain or.
Speaker 2 (09:13):
You're getting a competitive rate of return for.
Speaker 4 (09:16):
Right A safety safety net of assets is anything that
falls into that first bucket. The second bucket is, you know,
income producing assets, whether that's you know, a mutual fund
with bonds, a equity position, whether it's an ETF or
mutual fund that acts like a bond and is kicking
off a dividend or yield or dividend producing ETFs or
(09:37):
mutual funds with that are within underlying equities, whether that's
a covered call writing strategy or a derivative strategy. Uh,
those all fall into bucket too and pay into bucket one.
You're you're paying those into your money market fund within
the account. And then the third bucket is your just
growth oriented bucket, which is your ETFs and mutual funds
that are more revolved around the S and P five
(10:00):
one hundred the NASDAC. So your growth oriented Bucket is
the third.
Speaker 2 (10:05):
So again we're live. We're here in the studio today.
If you have any questions or comments. As I said,
I think it always makes it much more interesting for
the listeners and also for us. You can call today
at three one five four two one ninety seven ninety
seven you have a question about the markets, investing, iras,
State Planning, Wealth Transfer three one five four two one
(10:27):
ninety seven ninety seven. That's three one five four to
two one WSYR. We also have a website that you
can check us out at rpgretire dot com. That's rpgretire
dot com. It's just simply the initials of the Retirement
Planning Group. And again if you'd like to participate, we're
live three one five four to two one ninety seven
(10:48):
ninety seven. We're gonna take our first break. We'll be
right back. Will you run out of money in retirement?
Will your investments provide income for possibly decades? How do
you navigate the two greatest risk in retirement sequence of
return and longevity? At the Retirement Planning Group? Our Bucket
of Money approach addresses these concerns and we offer a
complimentary consultation to discuss this with you. Call our office
(11:09):
today for a free complimentary consultation to develop your own
personal retirement income distribution plan at five eight, five eight
zero one nine nine. That's five eight, five eight.
Speaker 3 (11:20):
Zero seven day and a dozen times ago. I reached
out one nine and you were gone. Don't know why
you had run? What you're running to from?
Speaker 2 (11:35):
All?
Speaker 5 (11:35):
I know?
Speaker 2 (11:36):
All right, I want to brand you. Let's listen to
Elvis so I'm good selection thumb for a ride, all right.
We are live up Dave Kopek up here with my
son Christopher William Kopek. I loved you much too. We're
uh the Retirement Planning Group. We have fives in New
(12:00):
York State, and we're here to help and assist you,
hopefully to provide you some opportunities in order to have
a well thought out retirement plan. It is very complicated today, folks.
I've been doing it now forty three years, and you
want to make sure. You want to make sure that
you're dotting your eyes and crossed your teas because we
(12:22):
live in a world today we're nine out of ten
of us, nine out of ten of us are going
to have to create a check for as long as
we shall live, So Jim broke the ice. Jim, good afternoon.
I'm Dave Kopek. How can we help you?
Speaker 3 (12:38):
Good afternoon.
Speaker 6 (12:40):
I know last year was a lot better timing, but
is it still a smart thing to have some market
allocation ten percent in gold?
Speaker 2 (12:50):
Well, I wouldn't just say gold. I would do a
diversified portfolio of not only gold, but silver, copper. You
can go through the whole. Yeah, primodities, okay, pressure, Yeah,
I agree, as long as Jim, you don't need the
dividend off of that portfolio because, as you're quite well aware,
a hard asset such as a commodity, unless you're buying
(13:11):
a minor a minor stock, does not pay a dividend.
And the thing is that for safe keeping, you know,
a lot of times what we like to do is
to make sure we're getting into a diversified commodity portfolio.
But I agree, yes, I do. I think it's I
think it's prudent. I think it's smart. And as long
as it makes up five to ten percent of what
(13:33):
we call your alternative investments, I think it makes sense
for you to do it.
Speaker 6 (13:38):
Oh good, thank you very much for that.
Speaker 2 (13:41):
Okay, thank you, sir. I appreciate the phone call. Yeah,
you've got BUYE sir. Now, I'm not a big believer
that you put all your money. You hear all of
these marketing pieces by gold by gold by gold. You know,
the thing is is that it's just to me, it
doesn't make a lot of sense to do that. So
you want to make sure that if you're doing it,
(14:01):
you're doing it properly. You understand exactly how you're allocating
your money, because there's no one thing. There is no
one asset, there's no one security, there's no one any
type of investment where you should put all your money
into that type of investment. So I think the one
thing that we try to overemphasize is diversification. As your friend,
(14:22):
you've got very competitive rates or returns right now. As
far as guaranteed rates, you can get about five percent
right now guaranteed. You know, treasuries, you can ladder them out.
So if you're looking for ways in order to get
you know, a decent dividend or a decent coupon, right now,
bonds are still giving you some attractive yields. So let's
go to Anne. It looks like Anne has a question
(14:43):
about bonds and retirement.
Speaker 7 (14:45):
Hi ann Hi, Yeah, sounds like you were just talking
about bonds. My question was the same thing. It sounds
like about bonds and retirement because my big on bonds.
Speaker 2 (14:59):
Your husband is a is not is not?
Speaker 7 (15:02):
And I am.
Speaker 2 (15:07):
That sounds like my house. Let me ask you a question.
Are you looking Are you looking for the bonds to
be like a guaranteed rate? Are you looking for something
because you like to sleep at night you don't want
the volatility of the stock market. Or are you looking
at for as an income option? Ane more to.
Speaker 8 (15:26):
Sleep at night?
Speaker 7 (15:27):
And that was even that was wait, even before the
stock market drop. I thought putting everything in the stock
market was not smart.
Speaker 2 (15:36):
Yeah, well, I don't disagree. I think diversification is your friend.
Are you the money that you're talking about, are you
utilizing that for income or is it strictly just for growth?
Speaker 8 (15:49):
For growth?
Speaker 7 (15:50):
I think he has most everything for our retirement in
the stock market, and I didn't think that was very smart.
Speaker 2 (15:57):
Oh, how far away are you from retirement? We're in
our sixties, okay, so how much longer do you think
that you're going to be working before you actually say
see you later, alligator? We're into retirement.
Speaker 8 (16:13):
And on how and on how much the stock market dropped.
I guess yeah, Okay, Well.
Speaker 2 (16:21):
We are a big believer that you pull back on
the throttle as you get three to five years before
you retire, because we all know what happens when there's
a devastating effect on your retirement portfolios. And I've been
doing it for forty three years, so I've seen the
impact of you know, having a bad market. A lot
(16:41):
of times people get scared and they go to cash
rather than staying fully invested. So personally myself, I think
if you don't have pension benefits, you should really start
working with a financial team to start building out a
retirement income distribution plan that will satisfy your income needs
not only you know, when you're both alive, but when
(17:02):
there's one of you that has passed that there's adequate
amount of resources for that the survivor.
Speaker 8 (17:10):
Okay, yeah, I agree.
Speaker 2 (17:12):
Yeah.
Speaker 4 (17:13):
Also to highlight on like where the bond market's at
right now from what we hear on a you know,
daily basis from the bond mutual fund wholesalers that we
talked to in the office, they haven't seen a better
opportunity in the bond market, they say within the last
twenty years. And that's just solely because where the rate
environment is at, you can receive on an annual basis
(17:35):
anywhere from a six seven eight percent dividend on these
mutual fund positions right now, where if the mutual fund
just stays flat and doesn't go up or down, you're
gonna get that dividend on an annualized basis, which is
you know, six seven eight percent. So they're pricing in
rate cuts. And then you know, if you get some
(17:56):
appreciation out of the fund itself on top of a
six seven eight percent dividend, your total return, your total
return could be you know, somewhere around a double digit number,
you know, if they actually start cutting rates here, which
Trump does seem pretty adamant about.
Speaker 2 (18:11):
Right, what I would what I would say, what, we
have an office in Syracuse, and if you want to
commend for a consultation, we give out our number. We
give out a number throughout the show. But you know,
the thing is is that having one hundred percent of
your money allocated into stocks, do either one of you
or either one of you in going to have a
pension benefit.
Speaker 7 (18:31):
No, it's all foural one kay, and yeah, you know
I raise stuff like that.
Speaker 2 (18:39):
Yeah, well you should commend and have a chat with
us because we can show you some idea. We should
have some ideas and concepts that we can show you.
Speaker 7 (18:46):
Okay, all right.
Speaker 2 (18:47):
My dear, Okay, thank you, ma'am. Bye bye. And our
telephone Okay, our telephone number. If our telephone number, I'll
give it out if you want to get ahold of
us is eight eight eight five eight zero one nine
one nine. That's triple eights. Eight eight eight five eight
zero one nine. They just say that you have listened
(19:08):
to the show and you'd like to come in and
have a chat with one of the finals. If you
want to speak to me, you can request me. I'm
actually going to be in Syracuse tomorrow for appointment that tomorrow. Yeah,
I'm going to be out there on Monday. Nico's going
out tomorrow on Sunday. He's driving out tomorrow. But so
you know, it's uh. You want to make sure you
(19:28):
understand what you have to do in order to satisfy
your income needs. And we are big believers in what
we call baseline income. So before we have to break here,
let's quickly go to Richard Richard, how are you this afternoon?
Speaker 5 (19:43):
I'm fine. My question is how much money can I
give each one of my children before there's a tax obligation?
Speaker 2 (19:54):
This year? Eighteen thousand dollars per chase per.
Speaker 5 (20:00):
Chase eighteen thousand per child?
Speaker 2 (20:03):
Yuh'd okay?
Speaker 5 (20:05):
Now another question I am Are you there? Yes, sir, Yes,
I had a CD in on the banks and they
never notified me. When it matured, they automatically renewed it
for one and a half and one percent.
Speaker 2 (20:23):
Oh that's great, isn't that nice of them?
Speaker 5 (20:26):
You know, there ought to be a law passed. I mean,
if our legislators want to get on something, get on
something like that, because it's nothing but a rip off.
Speaker 2 (20:35):
Yeah, and I apologize. It's not eighteen thousand, it's nineteen thousand.
It went up. It went up one thousand dollars this year.
It used to be eighteen thousand and twenty and twenty four. Uh.
You know, I I'm not a big believer in CDs
for you know, for a lot of reasons. Uh, they're safe,
they're secure, But I think there's alternative ways that you
(20:56):
can invest your money. You're going to get a much
more competitive rate of return. So if you're looking for
some ideas and concepts, that's what we do. But if
you want to do something special for your children, the
gift tax exemption this year in twenty twenty five is
nineteen thousand.
Speaker 5 (21:13):
Let me ask you this and may if you don't
hear the answer right now, the stock market is trapped.
I don't twelve hundred points or so. How come my
Verizon stocks have gon up five to six dollars this year?
Speaker 2 (21:29):
Because anytime I'll tell you the reason why, Well, you're
I'll tell you the reason why. You're a hell of
a stock picker. That's why you're doing good. You're picking
the right stocks. Now, there are stocks that will go
up in a down market because they're Yeah, they're safe,
they're safe havens. They're you know, the utilities sometimes you
know a Verizon and AT and T. You know, those
(21:51):
are ones that are basically, you know, the safe havens
that they generate a good dividend and they're not highly volatile.
Speaker 5 (21:59):
So forgiven about forgive it and about six.
Speaker 2 (22:05):
Yeah, yeah, no, I know. We got a lot of
clients and owned Verizon, a lot of clients that own
AT and T, AT and T. The symbols t has
done extremely well recently too. So listen, if we can
help you, give us a call at our office. We've
been weren't that happy to help you, sir. We're right
over off off a carrier circle.
Speaker 5 (22:27):
Okay, okay, all right, thank you.
Speaker 2 (22:29):
For your help you okay, and God bless and if
we can help give.
Speaker 5 (22:33):
Us okay, have a good day.
Speaker 2 (22:36):
You too, sir. You do, sir? Yeah, you gotta. You know,
you've got to apologize. You know, my batphone is ringing,
that's all right. Yeah. The bottom I gets down to
is that you've got to put yourself in a position
where you understand the risk that's associated. You know, this
(22:59):
woman that called in and about bonds, you know, should
she have bonds in her portfolio? You know, I don't
think you should have one hundred percent of any of
your money into any one particular asset class. I mean,
I'm foolish because I have one hundred percent of my
money in stocks. But I have no desire to retire.
But I have cash positions. I have cash and I
(23:19):
have stock. I don't have too much bonds simply because
I'm just I'm not looking for income right now, you
know what I mean? The dividend. Yeah, so most of
my most of my portfolio is allocated to stocks. But
when you get into the biggest transition, the biggest thing
you face as you walk into retirement. As you walk
(23:40):
into retirement is how do I take this big pile
of money, no matter how big it is, with all
these different you know, accounts, my high raise, my four
OW and k's, my four oh three, b's non qualified assets,
whatever it may be, And now how do I create
a check. The more you can simplify, that more you
can can solidate and simplify, the better off you're going
(24:03):
to be, not only as far as your income, but
also something happens to you. It's gonna be much easier
for the surviving spouse to put their arms around it,
and they're gonna know where to go, right yeah, right, yeah,
So so we're gonna, you know, we got to break here.
This is really quick. We're having great questions today, which
I think makes it very much more interesting for you
(24:23):
the listener, It makes it much more interesting for us.
But again I give out the telephone number one more time,
three one five four two one ninety seven ninety seven
three one five four two one ninety seven ninety seven.
If you would like to come in, we offer a
complimentary consultation and we can go through that uh and
(24:44):
uh it's we'll be back in a couple of minutes.
Speaker 3 (24:54):
One through a party in account in jail the present
win and John began to swing, hadn't locked down, jam.
Speaker 2 (25:09):
Man. I can listen to that all day long. I'm
Dave Kopeck. I'm your host. This is the Retirement Planning Show.
We are part of your community now. We are the
Retirement Planning Group. We have an office right off a
carrier circle. Love to have the chance to sit down
with you, let you know a little bit about what
(25:30):
we do. We do investment management, asset protection, legacy planning,
and we do a lot of work in retirement income
distribution work with a lot of attorneys and CPAs facilitating
what people are looking for. And we have another question.
We have Greg on the phone.
Speaker 6 (25:44):
Hi, Greg, Hi, I got a question about my IRA.
I want to conversify it a little bit. And you know,
I've heard about the bitcoin and the hassle it can
be to have a uh, a wallet and a phrase
to get in and all this and possibility to lose it.
(26:04):
So I was thinking in my IRA, I heard there's
a Fidelity ETF fund for bitcoin, and I wondered when
I did? When I so, I keep my portfolio in
the correct amount stocks, bonds, and cash category, what bucket
or what you know, to keep it in the right
(26:25):
percentage of.
Speaker 2 (26:28):
It wouldn't be it really wouldn't be a stock. It
would be an alternative investment. So you could probably classify
it as a stock because it is an ETF and
it's going to trade like an ETF as far as liquidity. Uh,
But bottom line gets down to is that bitcoin hold
on tight because, as you're quite well aware, that's a
pretty volatile position.
Speaker 6 (26:49):
Oh yeah, yeah, but probably at a lower level would
be the way right way to go. It's about I
think I saw eighty yeah recently. Well, I'm a big believer.
I mean the way to diversify. Yeah, no, I think
it is.
Speaker 2 (27:06):
It's a great way to diversify, as long as you
understand that it's a highly volatile asset speculative. But I
think but the bottom I gets down to is that
there's a lot of people on Wall Street that are
very bullish on bitcoin. I know the younger generation. I've
been in this for forty three years. There's a lot
(27:27):
of people that will trade it on a daily basis.
So yes, But but Fidelity, do you know what the
symbol is. Yeah, it's FBTC.
Speaker 4 (27:35):
It's a ETF that Fidelity came out with that you
can buy bitcoin and it trades on the you know,
traditional markets.
Speaker 2 (27:46):
So it's going to open and close with the stock market.
Speaker 4 (27:49):
It's gonna, you know, replicate you know what bitcoin has done.
The The difference between it is, you know, the cryptocurrency
market is twenty four hours a day, NonStop. The traditional
market you know, opens that nine thirty, closes at four.
So Monday to Friday, it's gonna you're gonna see your
price fluctuations then over the weekend. Uh, and it's gonna
(28:11):
open on Monday with whatever the the bitcoin has done
over the weekend over that period of time.
Speaker 2 (28:17):
Yeah.
Speaker 4 (28:17):
So it's just a way to add it into people's
portfolios through like an ETF ticker.
Speaker 2 (28:25):
Does that help you, Greg?
Speaker 6 (28:27):
Oh yeah, yeah, yeah. You give me a lot of
important information. Thank you appreciate it, right, sir?
Speaker 2 (28:32):
Okay, you have great tech.
Speaker 6 (28:33):
Yeah, thank you.
Speaker 2 (28:35):
Okay, buyer beware, you know, I just not not to
say that you shouldn't be investing in that because it's uh.
But you know the thing is is that you know
it could be you know that Chris's brother, your brother
is a big time into crypto. Yeah, I don't know
what about you, what's your position on crypto.
Speaker 4 (28:56):
I think the ones that have proven themselves, like the
big and the ethereums of the world, you know, have
already shown that they are pulling they're here to stay. Yeah,
they're here to stay. They're pulling a lot of attention
in value. You know, when you have billions of dollars
flowing through bitcoin at this point, that's attractive to a
(29:19):
lot of people, you know, the decentralized currency part of it,
where it's kind of its own asset class, being a cryptocurrency,
it draws a lot of attention. But yeah, I mean
the more and more people get into it, the more
and more it's going to trade like you know, anything else,
like the S and P five hundred. Like year to date,
I'm looking at this fidelity BTC, the Bitcoin etf it's
(29:41):
down thirteen point seventy five percent year to date. That's
it's it's kind of flowing with you know, the S
and P five hundred like similar returns, you know, as
far as a standpoint, but it's it's because of the
amount of money that's in it.
Speaker 2 (29:55):
It's not about fourteen percent on the year.
Speaker 4 (29:57):
Yeah, year to date it's given me thirteen point seven four.
Speaker 2 (30:01):
Well that's the S and P five hundred. You're the
data is down there negative thirteen point seven.
Speaker 4 (30:05):
Yeah, so it's kind of yeah tracking the SMP.
Speaker 2 (30:08):
That's NASDEX down about nineteen and a half and then
the Dow's down about ten. Yeah, so it's it's within
range there. So all right, Like I said, we love
phone calls questions. It's better to have talk radio than
what we call Babbel. You don't want to hear us Babbel.
Babbel Radio three one five four to two one ninety seven,
(30:28):
ninety seven. This is my twenty fifth year on radio.
Hopefully the Syracuse area is enjoying our show. We enjoy
doing it. We always try to do it live. Occasionally
we have to do it pre programmed, but not a lot. Again,
if you want to participate today, it's three one five
four to two one ninety seven ninety seven. Unprecedented times.
(30:49):
You know, there's a lot of stuff going on out
there in regard to globalization, trade teriffs, like anything else.
You know, everybody wants to avoid the markets downs. But
as you're quite well aware, if you've been doing it
for an extended period of time, uh, and you stay
invested in the market, you're gonna have about seventy percent
(31:12):
up and thirty percent down as far as the percentage.
But I can't overemphasize this enough. Don't go to cash
unless you just can't take the stress anymore. You know,
it's just too much for you. A lot of times
people will move the cash. I think there's like over
seven trillion dollars in cash right now, seven trillion. It's
(31:34):
an astronomical amount of money. And the question becomes when
you get in, when you get out. And for a
lot of people, like and they called in the question
about bonds, some people just can't take the gyrations that
you just can't take the ups and downs of the
stock market on a daily, weekly, monthly basis. And that's okay.
(31:55):
Right now you're being rewarded. You have the ability to
have some coop on interest rates. Right now you give
about five percent guaranteed if you want it, and depending
on the asset, the CD or NYGA. It depends on
what you're looking for. But the thing is is that
if that's what you're looking for, there's nothing wrong with that,
because on a historical basis, especially over the last five
(32:17):
years or so, five percent is a pretty good number
compared to what bonds have netted out.
Speaker 4 (32:21):
Yeah, bond portfolio, well, yeah, it just goes to twenty
twenty two, there were seven rate hikes throughout the year,
which was the highest number of rate hikes in a
single year since two thousand and five. Right, so bonds
haven't been a conversation for over twenty years. So it's
understandable from her husband's standpoint saying, I don't like the
bonds because you didn't really get much out of them.
(32:42):
You'd rather be inequities because that's where your growth was,
that's where you saw your numbers going up.
Speaker 2 (32:46):
Well, I don't think if you remember, right when you
first started, there were portfolio managers that were running bond
portfolios that were buying stocks because they couldn't find bonds
that were adequate enough for the coupon the yield that
they wanted to put in their portfofit folios. So instead
of buying stocks, they were buying preferreds. They're buying dividend paying,
(33:06):
high quality, dividend paying stocks rather than going out buying
fixed income because they were worried about what coupon the
interest rate that they were going to give, and then
also if interest rates go up, what was going to
happen to then that asset value Because a lot of
the bonds that had anywhere near a coupon, they were
trading at a part over part over par value. Right,
they're trading at a premium, right, and bonds will mature
(33:29):
at part at one thousand dollars. So if you're paying
eleven hundred dollars for a bond and matures of the thousand bucks,
you're already down one hundred bucks, right.
Speaker 4 (33:36):
Yeah, And that's the that's the conversations that we've been
having tough with a lot of these wholesalers is they
don't really have to look too far to try and
find the yield and dividends, the quality, the credit quality,
and these underlying positions. Uh, for most of the funds
that we deal with. You know, these guys are saying,
you know, it's never been higher because we don't we
don't have to go searching for yield when it's so
(33:56):
easily accessible in this rate environment. So the quality of
these mutual funds has stepped up, in credit quality, the
yields has stepped up since twenty twenty two, and in
the appreciation of these funds hasn't come back since you know,
we saw anywhere from a fifteen to like a twenty
percent downside in the bond market in twenty twenty two,
(34:17):
which is unheard of.
Speaker 2 (34:18):
Alliance Bernstein had a white paper and I think you
can still find it on the internet if you look
for it. And Alliance Bernstein did a lot of work
in fixed income and they still do. And the white
paper was basically that you could get stock market rates
of returns and high yield bonds with about fifty percent
less volatility of the stock market. And if you look
(34:39):
for it, it is out on the internet somewhere, because
I just recently found it and I put it off
a copy of it. So just realize is that you know,
there are opportunities in your portfolio where you can get
pretty significant rates of returns as long as you get
that capital appreciation, that one component, because bonds are basically
made up of two things that give you your net return,
(35:01):
capital appreciation and the coupon the dividend. And you know
when interest rates were so low and they were basically saying,
is that just be happy that you're getting your coupon.
That's because they weren't doing anything at the FED. FED
wasn't reducing rates because there was nowhere to go. You know,
when the long term bond was that one and a
half two percent. I mean, how much of a bank
(35:21):
for your bucket you get? So yeah, so just be
aware there are opportunities out there and fixed income. But
again again our telephone number if you have a question,
three point five four to seven ninety seven. This is
Live Radio. We love to ask ask for questions because
I think it makes it much more interesting. So have
you if you have a question about your own personal investments,
(35:45):
about anything on pre or post retirement planning. As we said,
we do a lot of work in investment management, acid protection,
legacy planning of course, retirement income distribution. What do I
mean by acid protection? If you get if you need
a long term care event, we do a lot of
work with attorneys, drafting, putting the state plans together in
(36:07):
order to protect you from which really for a lot
of us is the greatest risk that we have in
our retirement years, and that's a health event. I don't
have to tell anybody in upstate New York. It's range
anywhere from around twelve to sixteen to seventeen thousand dollars
a month for a long term care facility, and it
can really be a real kick in the teeth when
(36:28):
you have to pay those kind of premiums in order
to get the care that you're looking for. So just
be aware is that managing assets and retirement are not
necessarily stocks and bonds and alternative investments. It's basically managing
How to title I think that's one of the greatest things, Chris,
how to title your estate, how to set up your state,
(36:50):
because you get a lot of mixed messages as far
as how should I title my portfolio? Should be a
joint account tod POD, should it be a revocable trust,
irrevocable trust? These are critical questions. Yeah, not only critical questions,
but sometimes you'll get different answers from different attorneys as
far as what they think is in the best interest,
(37:11):
So you really need I met with an attorney up
in Glenn's Falls, New York this past week and We
had a long conversation about an existing client. So are
as far as how he thinks her assets should be titled.
She's widowed, they have no children, him and her and
her husband had no children. Now she's trying to figure
out how she's going to take this wealth and transfer it.
(37:33):
But she wants she wants some kind of a fiduciary.
She wants some money that's basically going to be protected.
So they don't get it and they burn through it.
They go out and buy corvettes and you know, let
their hair blow in the wind and you know, go
down the road and it's gone in a very short
period of time. And there's ways to do there's ways
to do that. There's ways to manage assets. It sounds
(37:53):
kind of morbid, but you can actually manage your assets
from the grave. So again, we are live three one
five four to two one ninety seven ninety seven. That's
three one five four to two one ninety seven ninety seven,
three one five four to two one ws y R.
If you have a question, this is talk Radio. I'm
Dave Kopeck with my son Christopher William. We'll be right back.
(38:15):
That's whoy I are the greatest risk in retirement. Most
of us have no plan for we're insurance to cover
the expense. A long term care event can impoverish a spouse,
drain your life savings, and cost stress and anxiety on
your family. What is your plan and how will you
pay for a long term care event? Call the Retirement
Planning Group today. Discuss options you should consider to protect
(38:36):
your estate and have choices and independence. Take action Call
today five eight, five eight zero one nine nine or
RPG retire f M.
Speaker 5 (38:55):
I can't walk out.
Speaker 8 (39:01):
Too much?
Speaker 2 (39:08):
Why can't you see.
Speaker 6 (39:12):
What you do?
Speaker 2 (39:14):
All right? We are back? What a signal?
Speaker 8 (39:20):
He was?
Speaker 2 (39:22):
Just so everybody knows. We're new to s y R.
We've been on now know a couple of months or so.
We are big basketball fans. We love Syracuse basketball. What
do you think? What do you think about this portal?
This nil nonsense. I think it comes with goods and bads.
And what I mean about that is the good is
(39:44):
you know. I saw an NBA scout say something about this,
and he said, you know the good thing is for us,
I get to see what all these kids do with
their money. He's like, I get to see what a
guy looks like after he gets a million bull and
we get to see if he's still dedicated to the game,
if he's still showing up to practice, or if he's
going out buying jewelry and fancy cars and going club
(40:04):
and with his friends. So he's like From a NBA standpoint,
they love it because now they get to see how
these guys act with money. But from a college standpoint,
I do think the portal is I think the restriction
should be put back on where they can't just transfer
and go start the next year immediately. I think it
ruins the mid major schools like this, well, Siena, Siena College,
(40:26):
which Chris graduated from. I had this conversation last night.
I was out to dinner with some friends of ours.
They will never ever, I think, get to the dance
again under the current environment. I mean, the their their
pocketbook isn't big enough. Well, yeah, Syracuse is raising fifty
million dollars over the next fifty fifty million. Yeah, fifty
(40:47):
million dollars for their NIL program. Yeah, okay, And I
think I personally, I think it's it's a detriment to
college sports. I'm bringing it up because they know everybody's
biting at the bit because the turn it starts tonight
today tonight or is this afternoon? No, yeah, the game's
around tonight tonight, right, yeahp tonight. But bottom mine gets
(41:08):
down to is that you know, I don't know. I
just think it's sad because you know, college sports there
was always something unique about it. It wasn't about the money.
It was about you know, competition and uh you know,
being at the right school, the right coach. Yeah.
Speaker 4 (41:24):
For there's certain scenarios too though with the kids. I mean,
if you're getting I think they should be making like
something off of it, you know, their jersey saying the
college education, well that too. But I'm saying like if
they're like that is it? And then like anything additional,
I think like if they're selling jerseys with their number
and name on it, you know, they should get a piece.
Speaker 2 (41:44):
But they shouldn't be getting.
Speaker 4 (41:45):
You know, like a contract where they're making you know,
five ten million bucks just to go play sports.
Speaker 2 (41:51):
Well, it's uh, it's out of whack as far as
I'm concerned. There was an article that I just read.
You know, you got a eighteen year old kid that's
getting a check for like eight nine to ten million
dollars between you know what the school's paying them and
endorsements and all that stuff. You know, you might be right,
you might be right that the pros are basically saying
the scouts, let's see how he acts. That's exactly what
(42:14):
he was saying.
Speaker 4 (42:14):
Yeah, he said, I get to see exactly how this
kid acts now with money. So from their standpoint, the
at least this guy, this Scouts standpoint, he's like, I
love it.
Speaker 2 (42:24):
All right, we're talking about the markets a little bit.
We're not going to talk basketball here, and anybody wants
to shoot, play horse or anything like that, I'll take
them out and I'll kick their butts. So you got
you got some money, you want to you want to
lose some money, give me a call. Yeah. This guy,
one of my engineers here is Zach, seems to think
(42:44):
that he can he can still shoot the ball. You
still you still think you can shoot the ball? Yes
or no? Yeah, he's a three guy. You're a three pointer?
Huh yeah? You know. Uh. Stock market downturns, folks, it's uh,
there's usually noise. There is something going on that's causing it. Right,
(43:08):
it's either the economy is slowing, tax policies, but markets
have a way to correct and get back on track.
Just one thing. I'll say, a lot of the trading
that's going on right now, about eighty percent of it
is not you and I. It's program trading. It's algorithms.
(43:33):
So when you see all the selling going on, trying
to catch the wave, trying to get in when you're
supposed to get in, get out when you're supposed to
get out, it's almost impossible. It's almost impossible. So I
know that you know. One of the things that we
try to overemphasize is to make sure when you start
the process that you're getting in the door with the
right asset allocation. That's one of the things that I
(43:54):
want to talk to my son about is we have
this new software package that really is pretty dynamic that
allows you to basically look at your positions where you are,
how you're allocated, and if you're come if you want
to come in and have us do an analysis where
you'd be more than happy to do it, what's your
position with something like how how frequently should we be
(44:16):
looking at the asset allocation model when you go through
events like this, Chris.
Speaker 4 (44:21):
I mean, I think you it starts from where the
starting point, So where what positions you're getting into from
the get go. So it's you got to expect things
like this to happen throughout the period of time if
you're going to be in the market for a extended
period of time. So it's it's getting into the higher
quality positions, you know, positions that have proven themselves over
(44:44):
the last you know, five, ten, fifteen, twenty years, and
knowing which sectors of the market you're trying to hit
and which ones are going to you know, be popular
over the next couple of years. I mean, you could
you could talk about it on like an administration base
based on who's in office and their policy outlook, or
you could talk about it on like a year to
(45:04):
year outlook, just you know, how do we think the
market's going to perform this year versus you know where
we're at. But it's it's a risk thing, you know,
getting understanding how risky someone wants to be in their
risk profile and then establishing, you know, a model portfolio
around that to where they're going to be comfortable riding
(45:24):
the wave of the market and hoping that they understand that.
Speaker 2 (45:28):
So you got to have the right mindset. You got
to remember that the stock market is long term. It's
not a short term. So if you if you're a
long term investor, you know, and you've got a ten, fifteen,
twenty thirty year time horizon, which most of us will
for our retirement years. The biggest mistake that a lot
of people make is that they assume that once they
get into retirement, they don't need equity participation. That couldn't
(45:50):
be more untrue. You need equity participation because you're going
to have to have the ability to have purchasing power
over the next ten, fifteen to twenty years simply because
of the cost of goods and services. The other thing
is is that, as we overemphasize, you know, our mothership
is Fidelity. All of our assets are held at Fidelity.
Fidelity handles all of our back office. So if you
(46:11):
like Fidelity, you're gonna love working with us. And the
other thing is is that you know, if you've got
borrowed money, if you're on margin, you're playing with dynamite. Yeah,
you're playing with dynam especially especially in an environment like this.
So if you've got a margin account and you're on
the brink right now, you might want to just cash
out and sit on the sidelines until this thing turns around,
(46:32):
because you can get wiped out pretty quick in a
margin account. You don't even have an option. They'll just
liquidate you automatically.
Speaker 4 (46:38):
Yeah, it's it's definitely a really risky option to play
around with. But you know, if it's utilizing there's strategies
to utilize margin efficiently and effectively. But if you're if
you're going into it and you're shooting for the moon
and something like this happens, yeah, you're probably in a
pretty tight spot.
Speaker 2 (46:55):
All right, we've got time probably for one more phone call.
We've had a lot of phone calls today, but we're
kind of slacking off here. Three one five four to
two one ninety seven ninety seven. Any question at all,
whether it's on investments, state planning, IRI, distribution planning, iras, ROTH,
et cetera, Roth conversions uh three one five four to
two one ninety seven ninety seven. That's three one five
(47:18):
four to two one w S y R. Again, we're
here every Saturday from one o'clock until two o'clock, hopefully
giving you some direction what you should be doing in
your pre and post retirement years. And we do offer
a complementary consultation at our office in Syracuse. You can
(47:38):
take advantage of that by simply dialing eight eight eight
five eight zero one nine nine eight eight eight five
eight zero one nine one nine just say listen, I
listened to the show and I'd like to come in
and have a chat with you. Guys. The worst thing
that can happen is that we make a new friend.
We don't. We never, ever, ever, ever do business on
the first appointment. It's just a way for us to
get to know you and you get to know what
(48:00):
our process is. It's usually a three I would say
three appointment process.
Speaker 4 (48:04):
Is that I mean, yeah, two two appointments typically if
if we go over you know, the first appointment is
always a meet and greet and then the second second
appointment is always where we sit down review you know what,
all the information that we got from the confidential questionnaire booklet,
it's input into our e money software and we show
(48:26):
them different ideas on you know, how how this plan
could effectively work in retirement. And then from that point,
you know a lot of people are ready to go
after that or you know, if they want to set
up a third appointment and go think about it. We'll
set up a third one and you know, come up
with some strategies for him.
Speaker 2 (48:41):
Okay, we got a phone call. That's good because we
can finish up the week with this phone call. Matthew, Matthew,
how are you good? How are you very good? How
are you sir?
Speaker 8 (48:53):
Good?
Speaker 5 (48:53):
Thank you?
Speaker 2 (48:56):
How can I help you? So?
Speaker 8 (48:58):
My wife and I, you know, we both have a pension,
we both still work and we have a fun but
we get a lot of advertisements on algorithms and these
bods and these incredible twelve percent returns per month, and
I'm just curious, is there any truth to that or
is it a scam?
Speaker 2 (49:19):
Well, this is what I would say. I haven't seen
it yet, and I've been in the business for forty
three years where you can get twelve percent a month.
Anytime that they're you know, you'll saying if it sounds
too good to be true, it's probably too good to
be true. But I would just say, buyer beware. I
don't know where you're seeing that. Our business is regulated
so heavily by compliance. Are you seeing these in magazines
(49:44):
or is somebody actually trying to call you.
Speaker 8 (49:46):
It's actually a company called NERP based out of Florida.
Speaker 2 (49:51):
Okay, how do you how do you spell that? Just
out of curiosity and you RP NERP and U r P.
I'll tell you what I'll do. I don't know if
you tune in on a weekly weekly basis, Matthew, I'll
do some rosery research on it and i'll talk about
it next week.
Speaker 8 (50:08):
Oh, much appreciated.
Speaker 2 (50:09):
I really appreciate, because you know, Fidelity gives us a
lot of horsepower. So not only do I have we're
part of Fidelity Institutional Wealth Advisors, which is another added service,
so we have access to a lot of the CFAs
and the portfolio managers. So I'll ask around and I'll
let you know.
Speaker 8 (50:29):
Do you have an office around here?
Speaker 2 (50:30):
Yeah? Carrier Circle? Were right off a Carrier Circle.
Speaker 8 (50:35):
What's the name? I apologize. We're new to the area.
Speaker 2 (50:38):
Uh Pioneer Pioneer Park, right next to the uh Hilton
Hilton Garden Inn. Oh okay, Yeah, we're convenient. We're convenient
to We're convenient to two of my favorite places, Tullies
and Brooklyn Pickle.
Speaker 8 (51:00):
Oh you like, Kelly, I'm going to have to try
those out.
Speaker 2 (51:04):
They're fantastic. You can't miss that. I'll tell you what.
I'll be at Tully's on Monday, stop being at twelve
o'clock and you'll see me there eating one of their
delicious dishes. All right, Hey, God bless if we could
be of assistance, that would be an honor.
Speaker 8 (51:20):
I'm blessed, Thank you.
Speaker 2 (51:21):
Thank you, sir, God bless. Uh go ahead, summarize to
wrap up.
Speaker 5 (51:28):
Uh.
Speaker 4 (51:28):
You know, markets, market's doing its thing. It's going up
and down, and right now it's going down. And you
know the best thing is to just be understanding of
what you got. You know, feel comfortable with the risk
you're willing to take, and yeah, be patient. You know,
it always seems to work its way out. So if
you're sitting on the fence, just wait it out.
Speaker 2 (51:51):
Just remember one thing. We're the USA. They need to
do business here, folks. Okay, I hate to say it,
but they need us more than we need them. I
know it's sounds kind of a harsh comment or statement,
but the bottom line gets down to this is that
we have to Well you got there, bud. Do we
(52:11):
wrap it up? Say goodbye? Okay, Okay, I'm gonna say goodbye.
We'll see you next week for another retirement planning show.
Speaker 1 (52:17):
Bye folks, thank you for listening to The Retirement Planning
Show hosted by Dave Kopec. If you would like to
talk with Dave or someone at the Retirement Planning Group,
called eight eight eight five eight zero one nine one nine.
That's eight eight eight five eight zero one nine one
nine during business hours, or visit rpgretire dot com. The
(52:40):
Retirement Planning Group has five convenient offices located in Syracuse, Adianta, Albany, Malta,
and Glenn Falls. Tune in next week for retirement planning
strategies with Dave Copec right here on ws YRS The
Retirement Planning Show Right here on WSYRS The Retirement I
Think So
Why From the ws iHeart Studios. Welcome to the Retirement
Planning Show with your host Dave Kopak from the Retirement
Planning Group. Every week, Dave Kopak and his team discuss
the ways they can help people make informed decisions about
a wide array of retirement planning information that can support
you in developing a more certain financial future for you
(00:25):
and your family. Now it's time for the Retirement Planning Show.
Speaker 2 (00:34):
As the snowfly.
Speaker 3 (00:40):
On a cold and gray Chicago lawn in a pool,
little baby child is born in the geto.
Speaker 2 (00:47):
All right, good afternoon, all of our listeners in Syracuse.
I'm Dave Kopek, your host. I'm here with my son
Christopher Way. Today. This is the Retirement Planning Show. This
is as I say every week talk radio. This is
(01:08):
in babble Radio. We're here to hopefully help you, educate
you and inform you about the obstacles that you face
during your prem post retirement years, and hopefully answer some
of your questions. I give out the telephone number. It's
three one five four to two one ninety seven ninety seven.
That's three one five four to two one ninety seven
(01:30):
ninety seven. Any question at all, whether it's on the markets, investments, iras,
whatever you may have. Hopefully we can direct you or
give you the answer that you're looking for. Again, the
telephone number to talk or a very competent engineer is
three one five four to two one ninety seven ninety seven.
(01:51):
If you're not familiar with the Retirement Planning Group, all
we do is pre and post retirement planning. We have
five locations in New York. We have Oneana Sarah Aubany, Saratoga,
Glen's Falls, and hopefully we can help you and direct
you and put you in a better spot. So I
know that there's a lot of people out there nervous,
(02:14):
and I don't blame you for being nervous because anytime
you go through market volatility like we've gone through, it's
not fun. But I can tell you one thing, don't
try to time the market because it is something it's
going to be unfortunately, a very costly mistake for you
if you try to do that, because the numbers basically
(02:35):
say it can't be done. And avoiding the markets downturns
may mean missing out on some of the significant ups
that we have. Seventy eight percent of the stock market's
best days have occurred during a bear market seventy eight percent.
So if you miss the markets ten best days over
(02:56):
the past thirty years, your returns would have been cut
in half. So bottom line, stay fully invested, make sure
you got enough money sitting on the sidelines, and like
anything else, stay within your asset allocation. Stay within your
asset allocation. And as I've always said over and over again,
(03:17):
it always helps to have a financial team. There's all
sorts of data, there's all sorts of information on how
a financial team can help you and assist you and
met you better returns. You do not want to allow
your emotions to basically dictate your decisions, especially when you
go through times such as this. You agree there, my son,
(03:38):
Christopher William I do.
Speaker 4 (03:40):
I think you know having there's a good client piece
that we got from one of the wholesalers that goes
over the benefits of a financial advisor and a team,
and you know, the the outperformance you get by utilizing one,
and there's a lot of factors that are involved. You know,
not only just the guidance and advice and information that
we get on a day to day basis, but also
(04:01):
the institutional shares, the share classes. You know on a
mutual fund basis that we have access to that. You know,
just doing it in a regular retail shop does not
grant access to So yeah, there's a lot of benefits
to it. I totally agree. And you know, knowing your
your risk profile and where you want to be within
(04:23):
your asset allocation, letting your team know that and then
having them follow the steps. It's not you're not You're
not segmenting your your assets to someone else. They have
to act in a fiduciary capacity in order to facilitate
what you want to do with the money. So it's
just an added help.
Speaker 2 (04:42):
Well, trillions of dollars have been erased in value, you
don't want to book it. That means if you sell
the position, you've locked in your losses. So what you
want to do is that you want to basically look
at your positions, make sure that they're appropriate for what
you're trying to achieve, and like we always say, make
(05:05):
sure your buckets of money are appropriate as far as
how much cash is sitting on the sidelines. Now, we
talk about this all the time, why it's important to
have cash positions. We like to have anywhere from twelve
to eighteen months of net cash. So if you're taking
let's say five thousand dollars a month off your portfolio,
(05:25):
you want to have somewhere between sixty thousand and eighty
thousand dollars liquid in your money market account so your
dividends keep on replenishing it. But when you go through
times like this, you don't have to sell positions in
order to facilitate what you need for income. So I
know that my son basically goes over this a lot
(05:47):
of times with prospective clients. So when we set up
the buckets of money, Chris, typically what we want to
do is what we want to get the people in
sooner than later, typically three to five years before they
actually retire.
Speaker 4 (06:00):
The the red zone as you call it, is about
five years out from retirement, you know. We that's kind
of the sweet spot for talking to folks if they're
looking to retire at sixty two sixty five, getting them
in three to five years before going over you know
how they're four to one k's or whatever they're currently
(06:22):
investing in on a paycheck to paycheck basis, going over
how that's invested, seeing you know where their risk is
at what they're currently investing in and then starting to
roll that money out if they're over age fifty nine
and a half, and start building out, you know, buckets
of money for them through the three bucket approach to
where when they say audios, see you later, I'm retiring,
(06:46):
that their money's already working for him. It's a seamless process.
The account can get sent right over to you know,
their financial advisor team, and you know, it's smooth sailing
from there.
Speaker 2 (06:57):
Yeah. One of the other things, too, is that we've
talked about this all the time, just so you're aware.
If you are employed by XYZ Corporation, let's just say
National Grid, use that as an example. If you're over
the age of fifty nine and a half, you have
the ability to roll over your four oh one K
program to a self directed IRA through your financial team.
(07:20):
Why is that important because then you can start building
out that buckets of money that Chris talked about and
allows you to start building out the strategies that you
want to utilize during your retirement years in order to
facilitate the income that you desire. Now we all know
that there's a huge difference between accumulation versus retirement income distribution.
(07:41):
For a lot of individuals, it takes a while for
them to grasp the understanding for them to basically take
that whole different approach. Now, I need to create a check.
I'm not receiving a check. I'm gonna have to create
a check that will last me, possibly for three decades.
And if that is the case, you want to make
sure that you have it set up right on the
(08:02):
front end, because if you do not have it set
up properly on the front end, basically what happens is
that you're going to have to make changes. You're gonna
get nervous, You're gonna make decisions that are not necessarily
in your best interest long term, maybe short term. But
the thing is that we all know that you want
to basically put yourself in a position that when these
(08:23):
types of events happen, when there is this type of
volatility in the market, you're not basically throwing the baby
out with the bathwater. You're not gonna say sell go
to cash, because that's the worst thing you can do.
Speaker 4 (08:35):
Yeah, trying to time the market is never necessarily something
that anyone would recommend. It's very difficult to do, and
it hurts you in the long run. As far as
an overall return, just you know, from a number standpoint,
but knowing the buckets and money in going over them.
The first bucket is always your cash and your cash alternatives,
(08:58):
which money market funds, you know, any type of T bills,
m ygas, so any assets that are you know certain or.
Speaker 2 (09:13):
You're getting a competitive rate of return for.
Speaker 4 (09:16):
Right A safety safety net of assets is anything that
falls into that first bucket. The second bucket is, you know,
income producing assets, whether that's you know, a mutual fund
with bonds, a equity position, whether it's an ETF or
mutual fund that acts like a bond and is kicking
off a dividend or yield or dividend producing ETFs or
(09:37):
mutual funds with that are within underlying equities, whether that's
a covered call writing strategy or a derivative strategy. Uh,
those all fall into bucket too and pay into bucket one.
You're you're paying those into your money market fund within
the account. And then the third bucket is your just
growth oriented bucket, which is your ETFs and mutual funds
that are more revolved around the S and P five
(10:00):
one hundred the NASDAC. So your growth oriented Bucket is
the third.
Speaker 2 (10:05):
So again we're live. We're here in the studio today.
If you have any questions or comments. As I said,
I think it always makes it much more interesting for
the listeners and also for us. You can call today
at three one five four two one ninety seven ninety
seven you have a question about the markets, investing, iras,
State Planning, Wealth Transfer three one five four two one
(10:27):
ninety seven ninety seven. That's three one five four to
two one WSYR. We also have a website that you
can check us out at rpgretire dot com. That's rpgretire
dot com. It's just simply the initials of the Retirement
Planning Group. And again if you'd like to participate, we're
live three one five four to two one ninety seven
(10:48):
ninety seven. We're gonna take our first break. We'll be
right back. Will you run out of money in retirement?
Will your investments provide income for possibly decades? How do
you navigate the two greatest risk in retirement sequence of
return and longevity? At the Retirement Planning Group? Our Bucket
of Money approach addresses these concerns and we offer a
complimentary consultation to discuss this with you. Call our office
(11:09):
today for a free complimentary consultation to develop your own
personal retirement income distribution plan at five eight, five eight
zero one nine nine. That's five eight, five eight.
Speaker 3 (11:20):
Zero seven day and a dozen times ago. I reached
out one nine and you were gone. Don't know why
you had run? What you're running to from?
Speaker 2 (11:35):
All?
Speaker 5 (11:35):
I know?
Speaker 2 (11:36):
All right, I want to brand you. Let's listen to
Elvis so I'm good selection thumb for a ride, all right.
We are live up Dave Kopek up here with my
son Christopher William Kopek. I loved you much too. We're
uh the Retirement Planning Group. We have fives in New
(12:00):
York State, and we're here to help and assist you,
hopefully to provide you some opportunities in order to have
a well thought out retirement plan. It is very complicated today, folks.
I've been doing it now forty three years, and you
want to make sure. You want to make sure that
you're dotting your eyes and crossed your teas because we
(12:22):
live in a world today we're nine out of ten
of us, nine out of ten of us are going
to have to create a check for as long as
we shall live, So Jim broke the ice. Jim, good afternoon.
I'm Dave Kopek. How can we help you?
Speaker 3 (12:38):
Good afternoon.
Speaker 6 (12:40):
I know last year was a lot better timing, but
is it still a smart thing to have some market
allocation ten percent in gold?
Speaker 2 (12:50):
Well, I wouldn't just say gold. I would do a
diversified portfolio of not only gold, but silver, copper. You
can go through the whole. Yeah, primodities, okay, pressure, Yeah,
I agree, as long as Jim, you don't need the
dividend off of that portfolio because, as you're quite well aware,
a hard asset such as a commodity, unless you're buying
(13:11):
a minor a minor stock, does not pay a dividend.
And the thing is that for safe keeping, you know,
a lot of times what we like to do is
to make sure we're getting into a diversified commodity portfolio.
But I agree, yes, I do. I think it's I
think it's prudent. I think it's smart. And as long
as it makes up five to ten percent of what
(13:33):
we call your alternative investments, I think it makes sense
for you to do it.
Speaker 6 (13:38):
Oh good, thank you very much for that.
Speaker 2 (13:41):
Okay, thank you, sir. I appreciate the phone call. Yeah,
you've got BUYE sir. Now, I'm not a big believer
that you put all your money. You hear all of
these marketing pieces by gold by gold by gold. You know,
the thing is is that it's just to me, it
doesn't make a lot of sense to do that. So
you want to make sure that if you're doing it,
(14:01):
you're doing it properly. You understand exactly how you're allocating
your money, because there's no one thing. There is no
one asset, there's no one security, there's no one any
type of investment where you should put all your money
into that type of investment. So I think the one
thing that we try to overemphasize is diversification. As your friend,
(14:22):
you've got very competitive rates or returns right now. As
far as guaranteed rates, you can get about five percent
right now guaranteed. You know, treasuries, you can ladder them out.
So if you're looking for ways in order to get
you know, a decent dividend or a decent coupon, right now,
bonds are still giving you some attractive yields. So let's
go to Anne. It looks like Anne has a question
(14:43):
about bonds and retirement.
Speaker 7 (14:45):
Hi ann Hi, Yeah, sounds like you were just talking
about bonds. My question was the same thing. It sounds
like about bonds and retirement because my big on bonds.
Speaker 2 (14:59):
Your husband is a is not is not?
Speaker 7 (15:02):
And I am.
Speaker 2 (15:07):
That sounds like my house. Let me ask you a question.
Are you looking Are you looking for the bonds to
be like a guaranteed rate? Are you looking for something
because you like to sleep at night you don't want
the volatility of the stock market. Or are you looking
at for as an income option? Ane more to.
Speaker 8 (15:26):
Sleep at night?
Speaker 7 (15:27):
And that was even that was wait, even before the
stock market drop. I thought putting everything in the stock
market was not smart.
Speaker 2 (15:36):
Yeah, well, I don't disagree. I think diversification is your friend.
Are you the money that you're talking about, are you
utilizing that for income or is it strictly just for growth?
Speaker 8 (15:49):
For growth?
Speaker 7 (15:50):
I think he has most everything for our retirement in
the stock market, and I didn't think that was very smart.
Speaker 2 (15:57):
Oh, how far away are you from retirement? We're in
our sixties, okay, so how much longer do you think
that you're going to be working before you actually say
see you later, alligator? We're into retirement.
Speaker 8 (16:13):
And on how and on how much the stock market dropped.
I guess yeah, Okay, Well.
Speaker 2 (16:21):
We are a big believer that you pull back on
the throttle as you get three to five years before
you retire, because we all know what happens when there's
a devastating effect on your retirement portfolios. And I've been
doing it for forty three years, so I've seen the
impact of you know, having a bad market. A lot
(16:41):
of times people get scared and they go to cash
rather than staying fully invested. So personally myself, I think
if you don't have pension benefits, you should really start
working with a financial team to start building out a
retirement income distribution plan that will satisfy your income needs
not only you know, when you're both alive, but when
(17:02):
there's one of you that has passed that there's adequate
amount of resources for that the survivor.
Speaker 8 (17:10):
Okay, yeah, I agree.
Speaker 2 (17:12):
Yeah.
Speaker 4 (17:13):
Also to highlight on like where the bond market's at
right now from what we hear on a you know,
daily basis from the bond mutual fund wholesalers that we
talked to in the office, they haven't seen a better
opportunity in the bond market, they say within the last
twenty years. And that's just solely because where the rate
environment is at, you can receive on an annual basis
(17:35):
anywhere from a six seven eight percent dividend on these
mutual fund positions right now, where if the mutual fund
just stays flat and doesn't go up or down, you're
gonna get that dividend on an annualized basis, which is
you know, six seven eight percent. So they're pricing in
rate cuts. And then you know, if you get some
(17:56):
appreciation out of the fund itself on top of a
six seven eight percent dividend, your total return, your total
return could be you know, somewhere around a double digit number,
you know, if they actually start cutting rates here, which
Trump does seem pretty adamant about.
Speaker 2 (18:11):
Right, what I would what I would say, what, we
have an office in Syracuse, and if you want to
commend for a consultation, we give out our number. We
give out a number throughout the show. But you know,
the thing is is that having one hundred percent of
your money allocated into stocks, do either one of you
or either one of you in going to have a
pension benefit.
Speaker 7 (18:31):
No, it's all foural one kay, and yeah, you know
I raise stuff like that.
Speaker 2 (18:39):
Yeah, well you should commend and have a chat with
us because we can show you some idea. We should
have some ideas and concepts that we can show you.
Speaker 7 (18:46):
Okay, all right.
Speaker 2 (18:47):
My dear, Okay, thank you, ma'am. Bye bye. And our
telephone Okay, our telephone number. If our telephone number, I'll
give it out if you want to get ahold of
us is eight eight eight five eight zero one nine
one nine. That's triple eights. Eight eight eight five eight
zero one nine. They just say that you have listened
(19:08):
to the show and you'd like to come in and
have a chat with one of the finals. If you
want to speak to me, you can request me. I'm
actually going to be in Syracuse tomorrow for appointment that tomorrow. Yeah,
I'm going to be out there on Monday. Nico's going
out tomorrow on Sunday. He's driving out tomorrow. But so
you know, it's uh. You want to make sure you
(19:28):
understand what you have to do in order to satisfy
your income needs. And we are big believers in what
we call baseline income. So before we have to break here,
let's quickly go to Richard Richard, how are you this afternoon?
Speaker 5 (19:43):
I'm fine. My question is how much money can I
give each one of my children before there's a tax obligation?
Speaker 2 (19:54):
This year? Eighteen thousand dollars per chase per.
Speaker 5 (20:00):
Chase eighteen thousand per child?
Speaker 2 (20:03):
Yuh'd okay?
Speaker 5 (20:05):
Now another question I am Are you there? Yes, sir, Yes,
I had a CD in on the banks and they
never notified me. When it matured, they automatically renewed it
for one and a half and one percent.
Speaker 2 (20:23):
Oh that's great, isn't that nice of them?
Speaker 5 (20:26):
You know, there ought to be a law passed. I mean,
if our legislators want to get on something, get on
something like that, because it's nothing but a rip off.
Speaker 2 (20:35):
Yeah, and I apologize. It's not eighteen thousand, it's nineteen thousand.
It went up. It went up one thousand dollars this year.
It used to be eighteen thousand and twenty and twenty four. Uh.
You know, I I'm not a big believer in CDs
for you know, for a lot of reasons. Uh, they're safe,
they're secure, But I think there's alternative ways that you
(20:56):
can invest your money. You're going to get a much
more competitive rate of return. So if you're looking for
some ideas and concepts, that's what we do. But if
you want to do something special for your children, the
gift tax exemption this year in twenty twenty five is
nineteen thousand.
Speaker 5 (21:13):
Let me ask you this and may if you don't
hear the answer right now, the stock market is trapped.
I don't twelve hundred points or so. How come my
Verizon stocks have gon up five to six dollars this year?
Speaker 2 (21:29):
Because anytime I'll tell you the reason why, Well, you're
I'll tell you the reason why. You're a hell of
a stock picker. That's why you're doing good. You're picking
the right stocks. Now, there are stocks that will go
up in a down market because they're Yeah, they're safe,
they're safe havens. They're you know, the utilities sometimes you
know a Verizon and AT and T. You know, those
(21:51):
are ones that are basically, you know, the safe havens
that they generate a good dividend and they're not highly volatile.
Speaker 5 (21:59):
So forgiven about forgive it and about six.
Speaker 2 (22:05):
Yeah, yeah, no, I know. We got a lot of
clients and owned Verizon, a lot of clients that own
AT and T, AT and T. The symbols t has
done extremely well recently too. So listen, if we can
help you, give us a call at our office. We've
been weren't that happy to help you, sir. We're right
over off off a carrier circle.
Speaker 5 (22:27):
Okay, okay, all right, thank you.
Speaker 2 (22:29):
For your help you okay, and God bless and if
we can help give.
Speaker 5 (22:33):
Us okay, have a good day.
Speaker 2 (22:36):
You too, sir. You do, sir? Yeah, you gotta. You know,
you've got to apologize. You know, my batphone is ringing,
that's all right. Yeah. The bottom I gets down to
is that you've got to put yourself in a position
where you understand the risk that's associated. You know, this
(22:59):
woman that called in and about bonds, you know, should
she have bonds in her portfolio? You know, I don't
think you should have one hundred percent of any of
your money into any one particular asset class. I mean,
I'm foolish because I have one hundred percent of my
money in stocks. But I have no desire to retire.
But I have cash positions. I have cash and I
(23:19):
have stock. I don't have too much bonds simply because
I'm just I'm not looking for income right now, you
know what I mean? The dividend. Yeah, so most of
my most of my portfolio is allocated to stocks. But
when you get into the biggest transition, the biggest thing
you face as you walk into retirement. As you walk
(23:40):
into retirement is how do I take this big pile
of money, no matter how big it is, with all
these different you know, accounts, my high raise, my four
OW and k's, my four oh three, b's non qualified assets,
whatever it may be, And now how do I create
a check. The more you can simplify, that more you
can can solidate and simplify, the better off you're going
(24:03):
to be, not only as far as your income, but
also something happens to you. It's gonna be much easier
for the surviving spouse to put their arms around it,
and they're gonna know where to go, right yeah, right, yeah,
So so we're gonna, you know, we got to break here.
This is really quick. We're having great questions today, which
I think makes it very much more interesting for you
(24:23):
the listener, It makes it much more interesting for us.
But again I give out the telephone number one more time,
three one five four two one ninety seven ninety seven
three one five four two one ninety seven ninety seven.
If you would like to come in, we offer a
complimentary consultation and we can go through that uh and
(24:44):
uh it's we'll be back in a couple of minutes.
Speaker 3 (24:54):
One through a party in account in jail the present
win and John began to swing, hadn't locked down, jam.
Speaker 2 (25:09):
Man. I can listen to that all day long. I'm
Dave Kopeck. I'm your host. This is the Retirement Planning Show.
We are part of your community now. We are the
Retirement Planning Group. We have an office right off a
carrier circle. Love to have the chance to sit down
with you, let you know a little bit about what
(25:30):
we do. We do investment management, asset protection, legacy planning,
and we do a lot of work in retirement income
distribution work with a lot of attorneys and CPAs facilitating
what people are looking for. And we have another question.
We have Greg on the phone.
Speaker 6 (25:44):
Hi, Greg, Hi, I got a question about my IRA.
I want to conversify it a little bit. And you know,
I've heard about the bitcoin and the hassle it can
be to have a uh, a wallet and a phrase
to get in and all this and possibility to lose it.
(26:04):
So I was thinking in my IRA, I heard there's
a Fidelity ETF fund for bitcoin, and I wondered when
I did? When I so, I keep my portfolio in
the correct amount stocks, bonds, and cash category, what bucket
or what you know, to keep it in the right
(26:25):
percentage of.
Speaker 2 (26:28):
It wouldn't be it really wouldn't be a stock. It
would be an alternative investment. So you could probably classify
it as a stock because it is an ETF and
it's going to trade like an ETF as far as liquidity. Uh,
But bottom line gets down to is that bitcoin hold
on tight because, as you're quite well aware, that's a
pretty volatile position.
Speaker 6 (26:49):
Oh yeah, yeah, but probably at a lower level would
be the way right way to go. It's about I
think I saw eighty yeah recently. Well, I'm a big believer.
I mean the way to diversify. Yeah, no, I think
it is.
Speaker 2 (27:06):
It's a great way to diversify, as long as you
understand that it's a highly volatile asset speculative. But I
think but the bottom I gets down to is that
there's a lot of people on Wall Street that are
very bullish on bitcoin. I know the younger generation. I've
been in this for forty three years. There's a lot
(27:27):
of people that will trade it on a daily basis.
So yes, But but Fidelity, do you know what the
symbol is. Yeah, it's FBTC.
Speaker 4 (27:35):
It's a ETF that Fidelity came out with that you
can buy bitcoin and it trades on the you know,
traditional markets.
Speaker 2 (27:46):
So it's going to open and close with the stock market.
Speaker 4 (27:49):
It's gonna, you know, replicate you know what bitcoin has done.
The The difference between it is, you know, the cryptocurrency
market is twenty four hours a day, NonStop. The traditional
market you know, opens that nine thirty, closes at four.
So Monday to Friday, it's gonna you're gonna see your
price fluctuations then over the weekend. Uh, and it's gonna
(28:11):
open on Monday with whatever the the bitcoin has done
over the weekend over that period of time.
Speaker 2 (28:17):
Yeah.
Speaker 4 (28:17):
So it's just a way to add it into people's
portfolios through like an ETF ticker.
Speaker 2 (28:25):
Does that help you, Greg?
Speaker 6 (28:27):
Oh yeah, yeah, yeah. You give me a lot of
important information. Thank you appreciate it, right, sir?
Speaker 2 (28:32):
Okay, you have great tech.
Speaker 6 (28:33):
Yeah, thank you.
Speaker 2 (28:35):
Okay, buyer beware, you know, I just not not to
say that you shouldn't be investing in that because it's uh.
But you know the thing is is that you know
it could be you know that Chris's brother, your brother
is a big time into crypto. Yeah, I don't know
what about you, what's your position on crypto.
Speaker 4 (28:56):
I think the ones that have proven themselves, like the
big and the ethereums of the world, you know, have
already shown that they are pulling they're here to stay. Yeah,
they're here to stay. They're pulling a lot of attention
in value. You know, when you have billions of dollars
flowing through bitcoin at this point, that's attractive to a
(29:19):
lot of people, you know, the decentralized currency part of it,
where it's kind of its own asset class, being a cryptocurrency,
it draws a lot of attention. But yeah, I mean
the more and more people get into it, the more
and more it's going to trade like you know, anything else,
like the S and P five hundred. Like year to date,
I'm looking at this fidelity BTC, the Bitcoin etf it's
(29:41):
down thirteen point seventy five percent year to date. That's
it's it's kind of flowing with you know, the S
and P five hundred like similar returns, you know, as
far as a standpoint, but it's it's because of the
amount of money that's in it.
Speaker 2 (29:55):
It's not about fourteen percent on the year.
Speaker 4 (29:57):
Yeah, year to date it's given me thirteen point seven four.
Speaker 2 (30:01):
Well that's the S and P five hundred. You're the
data is down there negative thirteen point seven.
Speaker 4 (30:05):
Yeah, so it's kind of yeah tracking the SMP.
Speaker 2 (30:08):
That's NASDEX down about nineteen and a half and then
the Dow's down about ten. Yeah, so it's it's within
range there. So all right, Like I said, we love
phone calls questions. It's better to have talk radio than
what we call Babbel. You don't want to hear us Babbel.
Babbel Radio three one five four to two one ninety seven,
(30:28):
ninety seven. This is my twenty fifth year on radio.
Hopefully the Syracuse area is enjoying our show. We enjoy
doing it. We always try to do it live. Occasionally
we have to do it pre programmed, but not a lot. Again,
if you want to participate today, it's three one five
four to two one ninety seven ninety seven. Unprecedented times.
(30:49):
You know, there's a lot of stuff going on out
there in regard to globalization, trade teriffs, like anything else.
You know, everybody wants to avoid the markets downs. But
as you're quite well aware, if you've been doing it
for an extended period of time, uh, and you stay
invested in the market, you're gonna have about seventy percent
(31:12):
up and thirty percent down as far as the percentage.
But I can't overemphasize this enough. Don't go to cash
unless you just can't take the stress anymore. You know,
it's just too much for you. A lot of times
people will move the cash. I think there's like over
seven trillion dollars in cash right now, seven trillion. It's
(31:34):
an astronomical amount of money. And the question becomes when
you get in, when you get out. And for a
lot of people, like and they called in the question
about bonds, some people just can't take the gyrations that
you just can't take the ups and downs of the
stock market on a daily, weekly, monthly basis. And that's okay.
(31:55):
Right now you're being rewarded. You have the ability to
have some coop on interest rates. Right now you give
about five percent guaranteed if you want it, and depending
on the asset, the CD or NYGA. It depends on
what you're looking for. But the thing is is that
if that's what you're looking for, there's nothing wrong with that,
because on a historical basis, especially over the last five
(32:17):
years or so, five percent is a pretty good number
compared to what bonds have netted out.
Speaker 4 (32:21):
Yeah, bond portfolio, well, yeah, it just goes to twenty
twenty two, there were seven rate hikes throughout the year,
which was the highest number of rate hikes in a
single year since two thousand and five. Right, so bonds
haven't been a conversation for over twenty years. So it's
understandable from her husband's standpoint saying, I don't like the
bonds because you didn't really get much out of them.
(32:42):
You'd rather be inequities because that's where your growth was,
that's where you saw your numbers going up.
Speaker 2 (32:46):
Well, I don't think if you remember, right when you
first started, there were portfolio managers that were running bond
portfolios that were buying stocks because they couldn't find bonds
that were adequate enough for the coupon the yield that
they wanted to put in their portfofit folios. So instead
of buying stocks, they were buying preferreds. They're buying dividend paying,
(33:06):
high quality, dividend paying stocks rather than going out buying
fixed income because they were worried about what coupon the
interest rate that they were going to give, and then
also if interest rates go up, what was going to
happen to then that asset value Because a lot of
the bonds that had anywhere near a coupon, they were
trading at a part over part over par value. Right,
they're trading at a premium, right, and bonds will mature
(33:29):
at part at one thousand dollars. So if you're paying
eleven hundred dollars for a bond and matures of the thousand bucks,
you're already down one hundred bucks, right.
Speaker 4 (33:36):
Yeah, And that's the that's the conversations that we've been
having tough with a lot of these wholesalers is they
don't really have to look too far to try and
find the yield and dividends, the quality, the credit quality,
and these underlying positions. Uh, for most of the funds
that we deal with. You know, these guys are saying,
you know, it's never been higher because we don't we
don't have to go searching for yield when it's so
(33:56):
easily accessible in this rate environment. So the quality of
these mutual funds has stepped up, in credit quality, the
yields has stepped up since twenty twenty two, and in
the appreciation of these funds hasn't come back since you know,
we saw anywhere from a fifteen to like a twenty
percent downside in the bond market in twenty twenty two,
(34:17):
which is unheard of.
Speaker 2 (34:18):
Alliance Bernstein had a white paper and I think you
can still find it on the internet if you look
for it. And Alliance Bernstein did a lot of work
in fixed income and they still do. And the white
paper was basically that you could get stock market rates
of returns and high yield bonds with about fifty percent
less volatility of the stock market. And if you look
(34:39):
for it, it is out on the internet somewhere, because
I just recently found it and I put it off
a copy of it. So just realize is that you know,
there are opportunities in your portfolio where you can get
pretty significant rates of returns as long as you get
that capital appreciation, that one component, because bonds are basically
made up of two things that give you your net return,
(35:01):
capital appreciation and the coupon the dividend. And you know
when interest rates were so low and they were basically saying,
is that just be happy that you're getting your coupon.
That's because they weren't doing anything at the FED. FED
wasn't reducing rates because there was nowhere to go. You know,
when the long term bond was that one and a
half two percent. I mean, how much of a bank
(35:21):
for your bucket you get? So yeah, so just be
aware there are opportunities out there and fixed income. But
again again our telephone number if you have a question,
three point five four to seven ninety seven. This is
Live Radio. We love to ask ask for questions because
I think it makes it much more interesting. So have
you if you have a question about your own personal investments,
(35:45):
about anything on pre or post retirement planning. As we said,
we do a lot of work in investment management, acid protection,
legacy planning of course, retirement income distribution. What do I
mean by acid protection? If you get if you need
a long term care event, we do a lot of
work with attorneys, drafting, putting the state plans together in
(36:07):
order to protect you from which really for a lot
of us is the greatest risk that we have in
our retirement years, and that's a health event. I don't
have to tell anybody in upstate New York. It's range
anywhere from around twelve to sixteen to seventeen thousand dollars
a month for a long term care facility, and it
can really be a real kick in the teeth when
(36:28):
you have to pay those kind of premiums in order
to get the care that you're looking for. So just
be aware is that managing assets and retirement are not
necessarily stocks and bonds and alternative investments. It's basically managing
How to title I think that's one of the greatest things, Chris,
how to title your estate, how to set up your state,
(36:50):
because you get a lot of mixed messages as far
as how should I title my portfolio? Should be a
joint account tod POD, should it be a revocable trust,
irrevocable trust? These are critical questions. Yeah, not only critical questions,
but sometimes you'll get different answers from different attorneys as
far as what they think is in the best interest,
(37:11):
So you really need I met with an attorney up
in Glenn's Falls, New York this past week and We
had a long conversation about an existing client. So are
as far as how he thinks her assets should be titled.
She's widowed, they have no children, him and her and
her husband had no children. Now she's trying to figure
out how she's going to take this wealth and transfer it.
(37:33):
But she wants she wants some kind of a fiduciary.
She wants some money that's basically going to be protected.
So they don't get it and they burn through it.
They go out and buy corvettes and you know, let
their hair blow in the wind and you know, go
down the road and it's gone in a very short
period of time. And there's ways to do there's ways
to do that. There's ways to manage assets. It sounds
(37:53):
kind of morbid, but you can actually manage your assets
from the grave. So again, we are live three one
five four to two one ninety seven ninety seven. That's
three one five four to two one ninety seven ninety seven,
three one five four to two one ws y R.
If you have a question, this is talk Radio. I'm
Dave Kopeck with my son Christopher William. We'll be right back.
(38:15):
That's whoy I are the greatest risk in retirement. Most
of us have no plan for we're insurance to cover
the expense. A long term care event can impoverish a spouse,
drain your life savings, and cost stress and anxiety on
your family. What is your plan and how will you
pay for a long term care event? Call the Retirement
Planning Group today. Discuss options you should consider to protect
(38:36):
your estate and have choices and independence. Take action Call
today five eight, five eight zero one nine nine or
RPG retire f M.
Speaker 5 (38:55):
I can't walk out.
Speaker 8 (39:01):
Too much?
Speaker 2 (39:08):
Why can't you see.
Speaker 6 (39:12):
What you do?
Speaker 2 (39:14):
All right? We are back? What a signal?
Speaker 8 (39:20):
He was?
Speaker 2 (39:22):
Just so everybody knows. We're new to s y R.
We've been on now know a couple of months or so.
We are big basketball fans. We love Syracuse basketball. What
do you think? What do you think about this portal?
This nil nonsense. I think it comes with goods and bads.
And what I mean about that is the good is
(39:44):
you know. I saw an NBA scout say something about this,
and he said, you know the good thing is for us,
I get to see what all these kids do with
their money. He's like, I get to see what a
guy looks like after he gets a million bull and
we get to see if he's still dedicated to the game,
if he's still showing up to practice, or if he's
going out buying jewelry and fancy cars and going club
(40:04):
and with his friends. So he's like From a NBA standpoint,
they love it because now they get to see how
these guys act with money. But from a college standpoint,
I do think the portal is I think the restriction
should be put back on where they can't just transfer
and go start the next year immediately. I think it
ruins the mid major schools like this, well, Siena, Siena College,
(40:26):
which Chris graduated from. I had this conversation last night.
I was out to dinner with some friends of ours.
They will never ever, I think, get to the dance
again under the current environment. I mean, the their their
pocketbook isn't big enough. Well, yeah, Syracuse is raising fifty
million dollars over the next fifty fifty million. Yeah, fifty
(40:47):
million dollars for their NIL program. Yeah, okay, And I
think I personally, I think it's it's a detriment to
college sports. I'm bringing it up because they know everybody's
biting at the bit because the turn it starts tonight
today tonight or is this afternoon? No, yeah, the game's
around tonight tonight, right, yeahp tonight. But bottom mine gets
(41:08):
down to is that you know, I don't know. I
just think it's sad because you know, college sports there
was always something unique about it. It wasn't about the money.
It was about you know, competition and uh you know,
being at the right school, the right coach. Yeah.
Speaker 4 (41:24):
For there's certain scenarios too though with the kids. I mean,
if you're getting I think they should be making like
something off of it, you know, their jersey saying the
college education, well that too. But I'm saying like if
they're like that is it? And then like anything additional,
I think like if they're selling jerseys with their number
and name on it, you know, they should get a piece.
Speaker 2 (41:44):
But they shouldn't be getting.
Speaker 4 (41:45):
You know, like a contract where they're making you know,
five ten million bucks just to go play sports.
Speaker 2 (41:51):
Well, it's uh, it's out of whack as far as
I'm concerned. There was an article that I just read.
You know, you got a eighteen year old kid that's
getting a check for like eight nine to ten million
dollars between you know what the school's paying them and
endorsements and all that stuff. You know, you might be right,
you might be right that the pros are basically saying
the scouts, let's see how he acts. That's exactly what
(42:14):
he was saying.
Speaker 4 (42:14):
Yeah, he said, I get to see exactly how this
kid acts now with money. So from their standpoint, the
at least this guy, this Scouts standpoint, he's like, I
love it.
Speaker 2 (42:24):
All right, we're talking about the markets a little bit.
We're not going to talk basketball here, and anybody wants
to shoot, play horse or anything like that, I'll take
them out and I'll kick their butts. So you got
you got some money, you want to you want to
lose some money, give me a call. Yeah. This guy,
one of my engineers here is Zach, seems to think
(42:44):
that he can he can still shoot the ball. You
still you still think you can shoot the ball? Yes
or no? Yeah, he's a three guy. You're a three pointer?
Huh yeah? You know. Uh. Stock market downturns, folks, it's uh,
there's usually noise. There is something going on that's causing it. Right,
(43:08):
it's either the economy is slowing, tax policies, but markets
have a way to correct and get back on track.
Just one thing. I'll say, a lot of the trading
that's going on right now, about eighty percent of it
is not you and I. It's program trading. It's algorithms.
(43:33):
So when you see all the selling going on, trying
to catch the wave, trying to get in when you're
supposed to get in, get out when you're supposed to
get out, it's almost impossible. It's almost impossible. So I
know that you know. One of the things that we
try to overemphasize is to make sure when you start
the process that you're getting in the door with the
right asset allocation. That's one of the things that I
(43:54):
want to talk to my son about is we have
this new software package that really is pretty dynamic that
allows you to basically look at your positions where you are,
how you're allocated, and if you're come if you want
to come in and have us do an analysis where
you'd be more than happy to do it, what's your
position with something like how how frequently should we be
(44:16):
looking at the asset allocation model when you go through
events like this, Chris.
Speaker 4 (44:21):
I mean, I think you it starts from where the
starting point, So where what positions you're getting into from
the get go. So it's you got to expect things
like this to happen throughout the period of time if
you're going to be in the market for a extended
period of time. So it's it's getting into the higher
quality positions, you know, positions that have proven themselves over
(44:44):
the last you know, five, ten, fifteen, twenty years, and
knowing which sectors of the market you're trying to hit
and which ones are going to you know, be popular
over the next couple of years. I mean, you could
you could talk about it on like an administration base
based on who's in office and their policy outlook, or
you could talk about it on like a year to
(45:04):
year outlook, just you know, how do we think the
market's going to perform this year versus you know where
we're at. But it's it's a risk thing, you know,
getting understanding how risky someone wants to be in their
risk profile and then establishing, you know, a model portfolio
around that to where they're going to be comfortable riding
(45:24):
the wave of the market and hoping that they understand that.
Speaker 2 (45:28):
So you got to have the right mindset. You got
to remember that the stock market is long term. It's
not a short term. So if you if you're a
long term investor, you know, and you've got a ten, fifteen,
twenty thirty year time horizon, which most of us will
for our retirement years. The biggest mistake that a lot
of people make is that they assume that once they
get into retirement, they don't need equity participation. That couldn't
(45:50):
be more untrue. You need equity participation because you're going
to have to have the ability to have purchasing power
over the next ten, fifteen to twenty years simply because
of the cost of goods and services. The other thing
is is that, as we overemphasize, you know, our mothership
is Fidelity. All of our assets are held at Fidelity.
Fidelity handles all of our back office. So if you
(46:11):
like Fidelity, you're gonna love working with us. And the
other thing is is that you know, if you've got
borrowed money, if you're on margin, you're playing with dynamite. Yeah,
you're playing with dynam especially especially in an environment like this.
So if you've got a margin account and you're on
the brink right now, you might want to just cash
out and sit on the sidelines until this thing turns around,
(46:32):
because you can get wiped out pretty quick in a
margin account. You don't even have an option. They'll just
liquidate you automatically.
Speaker 4 (46:38):
Yeah, it's it's definitely a really risky option to play
around with. But you know, if it's utilizing there's strategies
to utilize margin efficiently and effectively. But if you're if
you're going into it and you're shooting for the moon
and something like this happens, yeah, you're probably in a
pretty tight spot.
Speaker 2 (46:55):
All right, we've got time probably for one more phone call.
We've had a lot of phone calls today, but we're
kind of slacking off here. Three one five four to
two one ninety seven ninety seven. Any question at all,
whether it's on investments, state planning, IRI, distribution planning, iras, ROTH,
et cetera, Roth conversions uh three one five four to
two one ninety seven ninety seven. That's three one five
(47:18):
four to two one w S y R. Again, we're
here every Saturday from one o'clock until two o'clock, hopefully
giving you some direction what you should be doing in
your pre and post retirement years. And we do offer
a complementary consultation at our office in Syracuse. You can
(47:38):
take advantage of that by simply dialing eight eight eight
five eight zero one nine nine eight eight eight five
eight zero one nine one nine just say listen, I
listened to the show and I'd like to come in
and have a chat with you. Guys. The worst thing
that can happen is that we make a new friend.
We don't. We never, ever, ever, ever do business on
the first appointment. It's just a way for us to
get to know you and you get to know what
(48:00):
our process is. It's usually a three I would say
three appointment process.
Speaker 4 (48:04):
Is that I mean, yeah, two two appointments typically if
if we go over you know, the first appointment is
always a meet and greet and then the second second
appointment is always where we sit down review you know what,
all the information that we got from the confidential questionnaire booklet,
it's input into our e money software and we show
(48:26):
them different ideas on you know, how how this plan
could effectively work in retirement. And then from that point,
you know a lot of people are ready to go
after that or you know, if they want to set
up a third appointment and go think about it. We'll
set up a third one and you know, come up
with some strategies for him.
Speaker 2 (48:41):
Okay, we got a phone call. That's good because we
can finish up the week with this phone call. Matthew, Matthew,
how are you good? How are you very good? How
are you sir?
Speaker 8 (48:53):
Good?
Speaker 5 (48:53):
Thank you?
Speaker 2 (48:56):
How can I help you? So?
Speaker 8 (48:58):
My wife and I, you know, we both have a pension,
we both still work and we have a fun but
we get a lot of advertisements on algorithms and these
bods and these incredible twelve percent returns per month, and
I'm just curious, is there any truth to that or
is it a scam?
Speaker 2 (49:19):
Well, this is what I would say. I haven't seen
it yet, and I've been in the business for forty
three years where you can get twelve percent a month.
Anytime that they're you know, you'll saying if it sounds
too good to be true, it's probably too good to
be true. But I would just say, buyer beware. I
don't know where you're seeing that. Our business is regulated
so heavily by compliance. Are you seeing these in magazines
(49:44):
or is somebody actually trying to call you.
Speaker 8 (49:46):
It's actually a company called NERP based out of Florida.
Speaker 2 (49:51):
Okay, how do you how do you spell that? Just
out of curiosity and you RP NERP and U r P.
I'll tell you what I'll do. I don't know if
you tune in on a weekly weekly basis, Matthew, I'll
do some rosery research on it and i'll talk about
it next week.
Speaker 8 (50:08):
Oh, much appreciated.
Speaker 2 (50:09):
I really appreciate, because you know, Fidelity gives us a
lot of horsepower. So not only do I have we're
part of Fidelity Institutional Wealth Advisors, which is another added service,
so we have access to a lot of the CFAs
and the portfolio managers. So I'll ask around and I'll
let you know.
Speaker 8 (50:29):
Do you have an office around here?
Speaker 2 (50:30):
Yeah? Carrier Circle? Were right off a Carrier Circle.
Speaker 8 (50:35):
What's the name? I apologize. We're new to the area.
Speaker 2 (50:38):
Uh Pioneer Pioneer Park, right next to the uh Hilton
Hilton Garden Inn. Oh okay, Yeah, we're convenient. We're convenient
to We're convenient to two of my favorite places, Tullies
and Brooklyn Pickle.
Speaker 8 (51:00):
Oh you like, Kelly, I'm going to have to try
those out.
Speaker 2 (51:04):
They're fantastic. You can't miss that. I'll tell you what.
I'll be at Tully's on Monday, stop being at twelve
o'clock and you'll see me there eating one of their
delicious dishes. All right, Hey, God bless if we could
be of assistance, that would be an honor.
Speaker 8 (51:20):
I'm blessed, Thank you.
Speaker 2 (51:21):
Thank you, sir, God bless. Uh go ahead, summarize to
wrap up.
Speaker 5 (51:28):
Uh.
Speaker 4 (51:28):
You know, markets, market's doing its thing. It's going up
and down, and right now it's going down. And you
know the best thing is to just be understanding of
what you got. You know, feel comfortable with the risk
you're willing to take, and yeah, be patient. You know,
it always seems to work its way out. So if
you're sitting on the fence, just wait it out.
Speaker 2 (51:51):
Just remember one thing. We're the USA. They need to
do business here, folks. Okay, I hate to say it,
but they need us more than we need them. I
know it's sounds kind of a harsh comment or statement,
but the bottom line gets down to this is that
we have to Well you got there, bud. Do we
(52:11):
wrap it up? Say goodbye? Okay, Okay, I'm gonna say goodbye.
We'll see you next week for another retirement planning show.
Speaker 1 (52:17):
Bye folks, thank you for listening to The Retirement Planning
Show hosted by Dave Kopec. If you would like to
talk with Dave or someone at the Retirement Planning Group,
called eight eight eight five eight zero one nine one nine.
That's eight eight eight five eight zero one nine one
nine during business hours, or visit rpgretire dot com. The
(52:40):
Retirement Planning Group has five convenient offices located in Syracuse, Adianta, Albany, Malta,
and Glenn Falls. Tune in next week for retirement planning
strategies with Dave Copec right here on ws YRS The
Retirement Planning Show Right here on WSYRS The Retirement I
Think So
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