If you prefer to listen while you are on the road, click below!
Transcript
00:00:00:02 – 00:00:17:21
Mike
But the deals, how much should you be saving? Well, here’s what it comes down to. This is what it comes down to. I’m going to give you a simple rule of thumb for how much you need to have in your accounts. For work to be optional for the.
00:00:24:20 – 00:00:45:13
Zach
We have a really important show on our hands today. I know every single week we’re talking about really important stuff when it comes to the world of retirement planning. But this is a big one. Okay. So I just came across this article from the New York Times, just got put on my desk here. This evening. They’re talking about getting old is a crisis that more and more Americans can’t seem to afford.
00:00:45:13 – 00:00:58:04
Zach
Now, some of the things that are talking about this is information that a lot of us are, you know, pretty well versed on where, where. But I’m going to share this with the anyways. Half of U.S. households over 55. They have no retirement savings. You know this, right? Okay.
00:00:58:05 – 00:01:01:05
Mike
So by the way, first of all, what’s your source here, Zach?
00:01:01:06 – 00:01:02:04
Zach
The New York Times.
00:01:02:10 – 00:01:04:15
Mike
I did just make up stuff as they go. Right.
00:01:04:16 – 00:01:06:01
Zach
These sources are cited.
00:01:06:18 – 00:01:14:02
Mike
For what it’s worth, it’s not a political yes. It’s not a political article. So we could maybe count on it being at least semi true.
00:01:14:03 – 00:01:15:03
Zach
I would hope so. Anyway.
00:01:15:03 – 00:01:21:04
Mike
All right. So they’re saying that half of America owns have no retirement savings.
00:01:21:05 – 00:01:22:22
Zach
Zero. Absolutely nothing.
00:01:23:11 – 00:01:25:04
Mike
Man, I find that so hard to believe.
00:01:25:04 – 00:01:34:07
Zach
It’s absolutely crazy, isn’t it? And then half of Americans over 65 they’re living on Social Security alone. $18,000 a year. How are people even able to do that?
00:01:34:11 – 00:01:48:08
Mike
As soon as I hear that. I’m going to say this Zach. I’m probably going to. You know what? I hope I don’t offend half of the people listening right now.
00:01:48:12 – 00:01:48:21
Zach
Okay.
00:01:49:17 – 00:02:13:19
Mike
But I remember when I was raised that my parents instilled within me a strong sense of personal responsibility Right. So, like, I’m supposed to, as an adult, make decisions so that I’m standing on my own two feet. Part of personal responsibility is, hey, save some money along the way so that you don’t end up living on nothing but Social Security.
00:02:14:02 – 00:02:42:04
Mike
Now, with that being said, I know now by the way, don’t be like calling in and emailing us, telling you’re talking about what a heartless know A-hole I am. Right. Because I do recognize that there are people out there that have legitimate reasons for not having savings Yeah. Circumstances in life, there are I mean, things do occur. I get it.
00:02:42:21 – 00:03:01:19
Mike
And you know what? My heart goes out to those people. But half you can’t tell me half of the population are just victims. Right. I mean, it’s like, come on, people. Yeah. You can’t sit there and. Oh, man, that. That’s just. That’s rough. I don’t like hearing that.
00:03:01:20 – 00:03:02:11
Zach
It really is. It’s.
00:03:02:11 – 00:03:07:11
Mike
I don’t know. I don’t know. How where are they getting this from? How accurate is this, really?
00:03:07:12 – 00:03:08:19
Zach
This is a report from Fidelity.
00:03:09:09 – 00:03:11:12
Mike
From Fidelity, no less.
00:03:11:13 – 00:03:11:23
Zach
Yes.
00:03:12:07 – 00:03:28:09
Mike
Holy cow. I wonder where they I question where they got this, but. Okay, so let’s assume that they’re correct. So they’re saying half of the population, no retirement savings and half of the population basically retired with nothing but Social Security income only.
00:03:28:09 – 00:03:28:16
Zach
Yeah.
00:03:28:23 – 00:03:31:05
Mike
And it’s how much like 18 grand a year.
00:03:31:05 – 00:03:32:21
Zach
You settle over 18 grand a year.
00:03:33:05 – 00:03:34:19
Mike
This just kills me.
00:03:34:21 – 00:03:53:05
Zach
So let’s look at that 18,000 a year. Let’s compare that to the price of what long term care is right now. So nationwide. Put out a study in 20, 20, the median cost of having a semi-private room in a nursing home for a year. $93,000. That’s an unbelievable.
00:03:53:05 – 00:03:57:00
Mike
Number. So 93 grand a year. That’s median that means like it’s the middle.
00:03:57:00 – 00:03:57:12
Zach
Yes.
00:03:58:04 – 00:04:19:18
Mike
Holy cow. So obviously 18 grand isn’t going to get it right. So but here. Okay. So here’s the deal. First and foremost, let’s As much as I question these statistics, right. Because, I mean, you know me, Zach. I’m old enough to know to be skeptical, right? I’m Scott skeptical. On a lot of things. What if it’s not? Half the population was 10%, right?
00:04:20:00 – 00:04:42:21
Mike
I mean, it doesn’t really matter what the number is. Here’s what I do know. I know that number one, the average person is not saving enough money for retirement. We do know that. Like what? We know that to be true Now, we do live in Austin, Texas. There’s a lot of you out there listening. Man, you you’ve done a great job saving for retirement.
00:04:43:05 – 00:05:03:05
Mike
You know, you’re saving how many times a day, Zach? Am I talking to someone in their fifties who are saving the full 26,000 a year in their 41 K? I was talking to a guy today that’s like, hey, I need to save more than that. And that’s great. That’s great. If you’re in a position to do it, I applaud you if you are doing it.
00:05:03:13 – 00:05:21:13
Mike
By the way, here’s what I would highly recommend so I told this to my daughter Sarah. I tell this to all my kids. And you’ve probably heard me say to you, but here’s what I’m telling you. If you’re having trouble saving you know, you don’t want to be one of these, you know, one of these group of people that have nothing save, right?
00:05:21:13 – 00:05:42:02
Mike
So let’s say you’re out there and you just say, man, I’m just struggling, saving money. Well, here’s what you do. Just start with two or 3%. Put it in your 41 K or an IRA. Just set it up automatically. You are not going to write two or 3%. You’re not even going to notice it’s gone. And then what do you do six months later?
00:05:42:15 – 00:05:53:13
Mike
Do another 1%. Six months later, do another 1%. Before you know it, you’re saving some real money. Right now, I’m riled up because people aren’t saving money.
00:05:53:15 – 00:05:54:00
Zach
Right?
00:05:54:15 – 00:06:21:15
Mike
Long term care, health care expenses in retirement are going to be significant. Right. You’ve got to assume that. So here’s the thing. When you’re younger, start get in the habit of saving money when you’re in your fifties here, here’s a thing. You start getting in your forties, especially in your fifties, Here’s my question. Are you talking to a financial advisor to know how much you should be saving?
00:06:22:13 – 00:06:44:05
Mike
You know, I was on the phone earlier. What was it last week? Had a great conversation. Super nice couple. They were in their late forties and he’s been doing really well work. He’s making a pretty good income. And he said something to me, actually. They said something that I hear all the time. They said to me, said, Mike, we’ve kind of gotten the point where we just kind of spend money all over the place.
00:06:44:14 – 00:06:51:17
Mike
The problem is this, like in the back of our heads, we know we should be saving more money. But here’s the thing. We don’t know how much we should be saving, right?
00:06:51:17 – 00:06:52:10
Zach
They need a plan.
00:06:52:19 – 00:07:06:13
Mike
We need a plan. We need someone to help us map that out. Like like if you just tell me they said, just tell me. Give me the number. Tell me how much to save. I’ll do it right And then I can spend the rest of my income guilt free.
00:07:06:14 – 00:07:09:07
Zach
Yeah. They need a plan because everybody’s number is different.
00:07:09:14 – 00:07:30:07
Mike
Save money, save money. Save some money, spend some money. Find that good balance for yourself, because guess what? Someday you’re not going to be working. You’re going to have to replace your paycheck. You want to make sure that you’re in good shape there. You want to make. You want to be smart. Right. Be smart. All right. So here we go.
00:07:30:17 – 00:07:32:09
Zach
What do you got here? Oh, my gosh.
00:07:32:16 – 00:07:35:01
Mike
We’re about to talk about politicians some more.
00:07:35:02 – 00:07:35:22
Zach
Oh, no, no.
00:07:35:22 – 00:07:37:00
Mike
I’m going to be irritating.
00:07:37:01 – 00:07:37:18
Zach
A great show.
00:07:37:19 – 00:07:42:16
Mike
I hate these people. All right. By the way, I tell about people I hate all the time. You know who I love?
00:07:42:18 – 00:07:43:01
Zach
Who do you.
00:07:43:01 – 00:08:12:04
Mike
Like? I love people who are, you know, have positive attitudes. I love people who, you know, they see the world is abundance. They look for opportunity. These they’re always trying to improve themselves. You know, I like that kind of person that, by the way, doesn’t describe basically almost any politician. All right. Here we go. So we know we know that recently, if you’re paying attention, both sides of the aisle got together and said, all right, we’ve got to throw some money at infrastructure.
00:08:12:04 – 00:08:19:08
Mike
Right? We need to create an infrastructure bill. We’re going to throw $1,000,000,000,000 at infrastructure, a.
00:08:19:09 – 00:08:20:10
Zach
Trillion with a T a.
00:08:20:10 – 00:08:27:17
Mike
Trillion with a T, by the way, in case you’re wondering, that’s a lot of money. This always brings me back to one of my favorite movies.
00:08:29:21 – 00:08:44:03
Mike
So and as you’re listening, I mean, here we go. Poor Zack. It’s like you just try to keep me on topic, and there I go off on these tangents. But I hear $1,000,000,000,000, and right now I’m thinking of Dr. Evil. Right.
00:08:44:08 – 00:08:46:21
Zach
$1 million.
00:08:47:13 – 00:08:54:05
Mike
Here. And like Dr. Evil, you might want to ask for a little more than that. Yeah. And he goes to billions.
00:08:54:05 – 00:08:54:12
Zach
Yeah.
00:08:54:22 – 00:09:13:19
Mike
And our government says, Oh, Dr. Evil, we’ve got to add more zeros. Let’s make it a trillion. And you know darn well it’s going to happen. $1,000,000,000,000 that they give to the infrastructure. Like half of that maybe is going to go to infrastructure. The rest is going to go to special interest groups. Right. Which also drives me crazy. Right.
00:09:15:03 – 00:09:46:19
Mike
Here comes our our quote unquote. Leaders slash weasels in D.C. And they’re like, hey, this comes from CNBC Now, this one. This one. I’m sorry. I don’t I don’t know if you’re more right leaning or left leaning. This one’s all on the Democratic side. This is a Democrat rat led thing. The Republicans hate this idea. But again, any Democratic idea, remember, the Republicans hate any Republican ideas.
00:09:46:23 – 00:09:48:02
Mike
Democrats hate. That’s just.
00:09:48:08 – 00:09:48:23
Zach
The way it is.
00:09:48:23 – 00:10:08:02
Mike
These days. They don’t they don’t even care to to listen. But anyway, Democrats $3.5 trillion budget plan, basically, they said, you know, we think we should spend $3.5 trillion next year just for the government to run.
00:10:08:06 – 00:10:08:12
Zach
Yeah.
00:10:09:22 – 00:10:30:22
Mike
By the way, I don’t know if you read this, but, ah, the Fed had to come in with emergency measures to lift the debt ceiling because they’re spending so much money in DC. These politicians, they’re frickin morons when it comes to money right there more all of them, both sides of the aisle they’re morons when it comes to managing money.
00:10:30:22 – 00:10:51:10
Mike
This is not their strong suit, right? These people, they spend money like crazy. They have no frickin clue they they they honestly couldn’t give a crap whether they actually balance a budget, right? They don’t care. All they want to do is especially right now, tax and spend, tax and spend, tax and spend. That’s what they want to do.
00:10:51:10 – 00:11:11:18
Mike
And you know what this is doing? This is going to this is the kind of stuff that bankrupts our children. Our grandchildren. This is a kind of stuff where this is why tax rates are going to go up in the future. It’s because of the, you know, so-and-so’s in DC who have not a financial bone in their body.
00:11:11:18 – 00:11:16:18
Zach
Right. So all this spending going on, how is this going to affect our listeners, the public.
00:11:16:19 – 00:11:22:19
Mike
So here we go. Right. Thank you for bringing me on to this. Right. So here’s what’s going on. See, this is Zach. This is why we’re here together.
00:11:22:20 – 00:11:23:16
Zach
To bring you back in.
00:11:23:16 – 00:11:42:10
Mike
You say, all right, Mike, you’re out there ranting. You’re going crazy. We got to kind of like corral you back into this. So, you know, we’ve got one article saying, hey, people aren’t saving money and the cost of health care is getting out of control. So we’ve got a problem there. How are you going to retire if you’re not saving enough money?
00:11:42:12 – 00:12:05:01
Mike
You can’t replace your paycheck and you can’t even pay for health care. Your answer is you can’t. Right. Right. Then we’ve got these other articles saying government spending money like crazy tack, like spending like crazy Here’s what’s going to happen. Tax rates are going up. We know that already. If they don’t do anything in Washington, D.C., tax rates go up in January.
00:12:05:01 – 00:12:28:16
Mike
One 20, 26 because the Trump tax code goes away, vanishes at the end of 2025. So 20, 26 taxes go up automatically Yep. They’re spending money like drunken sailors. And I can have fun with that now because I have an ex-Navy person, Tony, who works here, the adviser here ex-Navy. So I can make fun of him as the drunken sailor in the office.
00:12:28:22 – 00:12:30:23
Mike
He’s not, by the way. That’s not who he is.
00:12:30:23 – 00:12:31:13
Zach
This is a joke.
00:12:31:17 – 00:12:52:14
Mike
But it’s fun. But they’re spending mine like the drunken. The proverbial drunken sailor, right? Yeah. Or the teenager with first credit card. At some point, you got to pay it back. You got to pay it back. We all know this. This is obvious. It’s simple. Who’s going to pay it back? Well, if half the people aren’t saving money, who’s going to pay it all back?
00:12:53:05 – 00:13:20:15
Mike
The half who actually do what they’re supposed to be doing and are saving money. And so here’s how it’s going to impact you. It’s going to come from the tax bomb account that you have when it comes to your retirement savings. That tax bomb is called a 401 K a 43 B a four 57, a traditional IRA a Profit-Sharing plan, a pension plan, money in these pretax accounts, money that’s never been taxed.
00:13:21:09 – 00:13:49:15
Mike
The IRS is they’re just going to increasingly and the government with strokes of the pen in Washington, D.C., they will increasingly be attacking your four when k the money in your 41 K the money in your four or three B’s, they’re going to be coming after it companies said you know instead of putting money into a pension, we’re just going to give you a match in your four or one K that we like that better.
00:13:49:18 – 00:14:11:15
Mike
And if you’re a company, yeah, that’s way better. You take the responsibility off your shoulders of delivering lifetime income. So a lot of people return day. It’s like, okay, I’ve got Social Security and that’s it. That plus my and we learned that’s not necessarily a big number for a lot of people. Right. The average Social Security, I think I see is around maybe 2500 a month.
00:14:12:02 – 00:14:32:16
Mike
30,000 a year. Sure. And and but for a couple, maybe it’s more like between both of them. Maybe it’s 40, 45,000 a year. Kind of hard to live a great life these days on 40, 45,000 a year. Yeah. Where’s the rest of money coming from? It’s come from your retirement savings and our interest rates right now are they higher?
00:14:32:16 – 00:14:57:02
Mike
They low. Low. They’re very low. Here’s what Morningstar is telling us. Morningstar says If you’ve got $1,000,000, save for retirement, sacked, you know how much money Morningstar says you should take out for income each year. You had $1,000,000 they say don’t pull out more than this number or you’re probably going to run out of money. What do you think the number is?
00:14:57:18 – 00:14:58:10
Zach
3%.
00:14:59:00 – 00:15:22:08
Mike
Very close to $8,000. Wow. 3% would be $30,000 almost there. But think about it. You got Social Security. That’s like if you’re married 40, 45,000, you got $1,000,000. Save for retirement. You can pull out basically 30 k you’re at 75,000 for retirement is good enough. What if you want to what if you want to retire at 100 grand?
00:15:22:17 – 00:15:45:15
Mike
Maybe you need 2 million or more income. So the reality is this is a big job. That’s reality. The good news is the sooner you start, you’ve got time on your side for compounding compounding. Albert Einstein described the eighth wonder of the world. Right. But the deal is, how much should you be saving? Well, here’s what it comes down to.
00:15:45:19 – 00:16:14:06
Mike
This is what it comes down to. I’m going to give you a simple rule of thumb for how much you need to have in your accounts for work to be optional. For you. So I know Morningstar says you can only take out 3%. Well, Morningstar is also assuming that you’re working with an advisor who doesn’t know what they’re doing with retirement income planning or they’re assuming that you’re doing it yourself.
00:16:14:09 – 00:16:32:02
Mike
Mm hmm. If you’re working with, like, our firm, I’m generating for our for our clients 5% income all day long. Sure. Let’s say they can only get 4% income. So let’s be a little conservative here. What you do is you just simply say, all right, how what’s your income goal in retirement? And I’m just going to make it a round number.
00:16:32:03 – 00:16:43:11
Mike
Say, you want 100,000 a year. You say, okay, I want a hundred grand a year in retirement, which is great for a lot of people. Like, oh, that’d be sweet. Some people, it’s like, how do I live on that? And other people be like, Holy cow, I wouldn’t know how to spend all that money.
00:16:43:13 – 00:16:43:19
Zach
Right.
00:16:44:03 – 00:17:06:03
Mike
But let’s use that number. It’s a round number. You might want more. You might want less. That’s a hundred grand. And then you say, All right, what are we? What are our sources of income? What what do we have covered? For most people? Social Security, for the sake of discussion let’s assume that it’s 40,000 on Social Security. Right. That would mean.
00:17:06:10 – 00:17:09:18
Mike
Oh, wow, I’m short. $60,000.
00:17:09:18 – 00:17:10:19
Zach
I’ve got a gap to make up.
00:17:11:05 – 00:17:35:03
Mike
I’m going to make it easier on myself for for me, for math. Let’s assume that Social Security is 50,000. Okay. Between husband and wife. So you got to cover $50,000. It’s easier in my brain. Sure. General. So here’s a question. If you can get 4% income, how big of a pot of money do you need to generate? $50,000?
00:17:36:07 – 00:17:36:23
Mike
The answer is.
00:17:37:22 – 00:17:38:11
Zach
Quite a bit.
00:17:38:15 – 00:18:00:17
Mike
1.2. 5 million. That’s a number. How’s that? If you want $60,000, it’s one and a half million. Right. So here’s the thing. If you’re sitting there saying, Okay, I want a hundred grand in retirement and I’ve got 50,000 of joint Social Security income, probably need somewhere between 1.2 to $1.5 million to be in good shape.
00:18:00:17 – 00:18:01:01
Zach
Yeah.
00:18:01:14 – 00:18:27:20
Mike
But then here’s the challenge. You’re saying, but Mike, I only have 500,000 saved. You tell me I got to double that by. Like I got a more than double. Like, how much do you have to save to make this happen? How long do, how long is it going to be? Well, general rule thumb your if you ever heard the rule 72 Zach that says you take whatever earnings rate you have it in the 72 that’s how long it takes for money to double.
00:18:27:23 – 00:18:51:19
Mike
Yep. So you say, okay I got 500 saved and I’m adding to it every year. Well, how long before I get to $1.3 million? Well, if you earn 7% a year, it takes ten years to double. So you’re 500 goes to a million. So in ten years, at 7%, you’ve got a million you figure you’re adding along the way. Right. Let’s say you’re 52 years old.
00:18:52:09 – 00:19:00:07
Mike
You’re adding the full 26,000 a year. That’s over ten years. 260,000. You had some growth on that. You’re there.
00:19:00:10 – 00:19:00:17
Zach
Yeah.
00:19:01:09 – 00:19:08:16
Mike
I was. I did this talk and I asked your hands, how many of you love math, raise your hand, how many people raise your hand?
00:19:08:16 – 00:19:10:04
Zach
And they, they’re like, Yeah, I don’t think so.
00:19:10:04 – 00:19:11:16
Mike
About 10% of the room.
00:19:11:16 – 00:19:11:23
Zach
Yeah.
00:19:12:04 – 00:19:39:15
Mike
People don’t like math. No, I’ve done this for 25 26 years now. What I’ve learned over the years is this whenever you’re facing retirement, if you’re getting the point where work is optional, you’re going to be facing one of two problems and maybe both. But problem number one, you have a legitimate concern that you’re going to run out of money, that you don’t have enough money saved.
00:19:40:03 – 00:20:02:05
Mike
That’s the first problem. But let’s say that’s not you. You’ve been saving like crazy. You’ve been doing a great job saving. And you’re sitting there, you’re like it’s you’re like the guy that called the office the other day that has $6 million saved in his 401 K. Right. And he literally, because of pension, Social Security doesn’t need any of it.
00:20:02:05 – 00:20:02:16
Zach
Doesn’t need a.
00:20:02:16 – 00:20:07:01
Mike
Dime. Right. Show your hand. Raise your hand right now. If you want to be if you want that guy to adopt you.
00:20:08:03 – 00:20:09:07
Zach
And you’re raised on this.
00:20:09:15 – 00:20:27:21
Mike
One of his children, right? No, but maybe you’ve done a great job. He’s obviously an outlier. But you’ve done a good job. Maybe you saved a million and a half, $2 million. And, you know, you’re like, this is probably going to last. I probably have enough money. I’m not going around money. That’s not my problem. Well, then you’ve got problem number two.
00:20:28:16 – 00:20:55:04
Mike
Problem number two is you now have a big bullseye painted on you. You are a target of the IRS. And that’s just going to get worse because the other article we talked about came from CNBC and the title is Democrat. This is from CNBC. By the way, the Democrats $3.5 trillion budget plan, that’s for one year spending. People would extend and then they go on and talk about what it does.
00:20:55:04 – 00:21:13:12
Mike
Right. Basically, the Democrats right now in power are saying, we love the idea of tax and spend. We want to spend your money. And because you’re too stupid to know how to spend it yourself in their minds, I think we want to spend your money. We want to have that power and we’re going to tax the heck out of you to do it right.
00:21:14:08 – 00:21:22:14
Mike
By the way, in that article, I’m sure they talk about they’re going to close the loop on crypto or something right now. Sure. Invest in crypto, have some tax benefits that they’re going to lose.
00:21:22:14 – 00:21:22:22
Zach
Right.
00:21:23:10 – 00:21:45:02
Mike
Anyway, the point is they want to tax and spend. They are spending money like crazy. And at some point the bill’s going to have to be paid. We all know this right? We all know this. This is not like surprise. We all know our government are like when it comes to managing money, they’re not even passing first grade.
00:21:45:11 – 00:21:48:23
Mike
Right. They’re about as stupid as you can get when it comes to balancing the budget.
00:21:49:01 – 00:21:49:07
Zach
Yeah.
00:21:49:18 – 00:22:14:03
Mike
They’re I mean, and I’m and as much as I’m bashing on them, I’m being nice because, I mean, honestly, everyone, if if they were trying to run a company, they would have lost their jobs so long ago. They were booted out so long ago. Because you can’t I mean, they just have $0.00, zero sense of economic like the basic stuff, right.
00:22:14:16 – 00:22:35:07
Mike
I mean, in your own household, if you run up a credit card, what do you got to do? You got to pay it. And you know, that apparently that’s not basic understanding in Washington. If you become a congressman or senator, you don’t know that something you don’t know how to do anyway because of that, taxes are going up.
00:22:35:11 – 00:23:02:08
Mike
They’re going to go up. They’re talking about raising taxes now. And if you are a saver and you have money in a 41 K for three, be your target. You’ve got to be making really smart choices now to protect your money, to protect yourself, protect your life savings, protect your financial security from the weasels in Washington, D.C., The can’t do crap when it comes to managing money.
00:23:02:09 – 00:23:23:11
Mike
Yeah, that’s what you got to do. You can’t you can’t just bury your head in the sand. You got to do something. You need to have a regular meeting annually with your advisors working on your tax planning. And guess what? I know you probably don’t have that meaning now because advisors, that’s too much work. They don’t want to mess with that.
00:23:24:12 – 00:23:49:18
Mike
So here’s the deal. We got to wrap this show up. This is what I want you to do. Retirement planning, enjoying a prosperous financial life. You have to make a lot of really smart decisions. You mess up in one area, it could completely collapse everything else. This is not simple. It’s not easy. It’s complicated. But what we’ve done is we said, you know what?
00:23:50:12 – 00:24:20:15
Mike
Let’s make it easy. Let’s provide an easy way for you, an easy path to help you drill down and make sure you’re making the right core decisions so that you can truly live that prosperous life, so that you’re protecting your money from market risk. You’re protecting that money from tax risk. You know, you just making sure that your money will last and that you can just really enjoy a wonderful, comfortable piece of mine life without having to worry about what the world throws at you.
00:24:20:16 – 00:24:20:21
Zach
Yep.
00:24:21:06 – 00:24:29:06
Mike
You just got to make smart choices in core areas. No excuses. I had to pick up the phone. Let’s make this happen, man. Let’s just do this.
00:24:29:10 – 00:24:40:01
Zach
Give us a call tonight. 512886 5850. Again, that number’s 512886 5850. That’s our show this week. We enjoyed having you here listening with us. We’ll see you next time.
