11.1.22: Audio automatically transcribed by Sonix

11.1.22: this mp3 audio file was automatically transcribed by Sonix with the best speech-to-text algorithms. This transcript may contain errors.

Producer:
Investment Advisory Services are offered through Foundations, Investment Advisors, LLC, Foundations and SEC Registered Investment Advisor. The content provided is intended for informational and educational purposes only. The views, statements and opinions expressed herein are those of the individual speakers and not necessarily those of foundations and its affiliates. The information contained herein does not constitute an offer to sell any securities or represent an express or implied opinion or endorsement of any specific investment opportunity offering or issuer. Any discussion of performance or returns is not indicative of future results. Each individual investor situation is different and any ideas provided may not be appropriate for your particular circumstances. Foundations only transacts business in states where it's properly registered or is excluded or exempted from registration requirements. Registration as an investment adviser is not an endorsement of the firm by securities regulators and does not mean the adviser has achieved a specific level of skill or ability. No legal or tax advice is provided. Always consult with a tax professional.

Producer:
Welcome to Rest Assured Retirement with your host, Jeff Holmes. Jeff is a licensed fiduciary and financial advisor who always places his clients needs first. Jeff works hard each day to educate Americans like you on how to reach the financial freedom they've worked so hard for. And he can help you too. So now let's start the show. Here's Jeff Holmes.

Jeff Holmes:
Welcome everyone to the Rest Assured Retirement show on Jeff Holmes, a certified retirement counselor and a certified financial fiduciary. And I'm joined by our co-host and producer, Matt McClure. Say hello, Matt.

Producer:
Hello, Matt. Oh, sorry. That's an old joke. But I have an old guy. I have an old sense of humor. So there we go. Hey, Jeff, how's it going?

Jeff Holmes:
Doing fine. Doing fine.

Producer:
Good. Good. I'm looking forward to having some some fun and learning some stuff as usual on the show this week Here.

Jeff Holmes:
Me, too. So it's always, always a fun time here. And that's the that's the key here. So basically, I want to welcome everyone. First off, if you would like a complimentary consultation, we talk about that a bit in the show. If you have questions on your own personal situation, you can go to our website. It's Rest Assured Retirement. Rest assured retirement dot com. Or maybe you just have questions and you'd like them answered about your specific situation. You can call 4804549191. Also on the website you can go there to listen to past episodes or you can also go wherever you listen to podcasts and listen to past episodes of the show. So please reach out to us. We love hearing from our listeners and the first thing we'll go through at the time of this recording is we record this earlier in the week and we are just about a week away from something called Election Day. You need to make your plan to get out and vote. And also there's something called ballot pedia. If you want to learn what the candidates and issues are on your ballot this year, because remember, knowledge is power. So that's really, really important. And then also some other important dates for all of you. On Medicare, It is that annual enrollment period that's starting October 15th. It will be ending December 7th, and that is where you will need to let us know if you need help with your Medicare needs, because Jocelyn, here in our office is our Medicare expert.

Jeff Holmes:
And don't hesitate to call. She'll be glad to give you a call back and answer any questions you may have. We'll be touching on this a little later in the show. So that's really important. And as far as the overview, what we're going to go through today, there's quite a bit out here. I'm not sure if we're going to get through all of it. I've got some side information that I've learned over the last week that I'd like to include. One is the quote of the week. We'll let Ned lead that off when we get to that. And then also market update our interest rates on the rise again and a pretty good chance they are. And we'll know for sure because of that probably by tomorrow as to the the 2nd of November. And then we'll go through an inflation demonstration, the 2023 cost of living and allowance and the cost of retirement today also get into problem solvers and that's how you help. Good saver. We talk about how we help good savers become better. Investors also get into right or wrong, and that's where you can put your financial knowledge to the test. And then also hopefully we'll get to costcutter on how to save for one of the biggest budget items during retirement. And also I like to finish up with This Week in History is about an historic landslide election victory. Pretty amazing on what happened there.

Producer:
And now of wholesome financial wisdom. It's time for the quote of the Week.

Jeff Holmes:
Man, if you could lead us off there.

Producer:
Absolutely. And we've got a couple of quotes of the week. It sort of made this a habit here because we're running into these quotes that are they're just they're just good. So we have to give them a little two for one special each week here lately. But this time around, we've got one quote of the week from Alice O'Connor. Now, if that name does not really sound familiar to you, you probably better know Alice O'Connor as Ayn Rand, the Russian born American writer and philosopher, also known for developing the philosophical, philosophical system called objectivism. She called it. So here's what here's what she said. Money is only a tool. It'll take you wherever you wish, but it will not replace you as a driver. So that's that's very, very poignant there. I feel.

Jeff Holmes:
Like. Yes, I agree. Now, that is a, you know, Atlas Shrugged. I don't know any of you out there that have read the book. Have you had the chance, Matt, yet?

Producer:
You know what? I have never read Atlas Shrugged. I'm kind of embarrassed to say.

Jeff Holmes:
Well, now it's you've got to bring a lunch if you're going to read it right. So it's something still on my bookshelf. I read it years ago. The only reason I read it, because I've worked overseas in a place called Saudi Arabia years ago when I got my civil engineering degree. And one of the things you do over there is read books because there's no TV to speak of. You work, and that's pretty much it. And I did read that, and because I had the time to read it and it was quite the book and makes me it's amazing. On what we have going on today. It seems like she already knew about that. She was writing about that, or maybe she was right about the past. So great book. Anyone wanted to throw that in. So I've got another one here.

Producer:
Very good. Yeah. Oh yeah, we got another one. And this one is from somebody I'm sure everybody is at least heard of, a guy named Jay-Z, who you might know from being married to Beyonce and also having a very, very successful hip hop career of his own. But Jay-Z said this, quote, I won't buy it until I can buy it twice. That's very smart advice there from Jay-Z.

Jeff Holmes:
Yes. Yeah, sure is. Now, it's easy for you to say Jay-Z anyway, right? True. But yeah, that, I guess, is he was known as his real name, Shawn Carter. Yeah, That's pretty amazing how they come up with their their names that they that they record under.

Producer:
It's funny because I actually know just I just happen to know this was from living in New York when I when I lived there. He grew up in Brooklyn and he lived on the train lines, the J train and the Z train on the subway. So it was the J and Z. So he just took the name Jay Z. So that's how I got the Got the name?

Jeff Holmes:
Yeah. Who wouldn't know? Right. Yeah, that's very smart. But yes, that is a very good, very good quote and something to think about and that's now I don't know about you, Matt, but I had a mom would go to Dillard's and she'd always wait till they go on sale so she could follow that rule there. So absolutely. How she did. Thanks. But thank you very much. And as far as going on to our market update, the this is from an article from the Wall Street Journal. The Fed set to raise rates by 0.75 points and debate size of the future of the future hikes which they're expecting maybe do some in December. I understand their meeting is November 1st and second and the increase in December may be a smaller increase. I've heard 0.5% versus the 0.75% that they're looking to do. Now, the thing that they're saying is some officials have become signaling their desire to slow down the pace of increases, soon to stop the rising rates early next year to see how these moves this year are slowing the economy. They want to basically reduce the risk of causing an unnecessary sharp slowdown. So that's what their goal is here. I'm sure we all hope they're successful and they've been they've raised the rates most recently in September, and they have been raising rates most aggressive pace since the early 1980s, since the early 1980s, I should say. And until June, they have not raised rates by 0.7, five point since 1994, according to the article there. So that is tells you a little bit about the situation we're in right now. So a little bit on the market update there. And also the next thing we'll talk about is the inflation demonstration.

Producer:
Want to know where your hard earned money is going. It's time for an inflation demonstration.

Jeff Holmes:
It's basically talking about savings needed to retire is on the rise. Imagine that. And if any of you are finding you're needing to get more savings or retire on, you may want to call in and ask some questions on how you're looking at that point and we can maybe help you through that. Or you can we can act as a sounding board for you and you can maybe get some answers to your questions there at 4804549191. Now, getting back to the article. A new survey reveals Americans magic number for retirement and Northwestern Mutual survey found that many Americans are worried about their prospects for retirement. About four in ten people said that they don't think they will have enough money when they retire. Nearly half of the people surveyed said they also envisioned scenarios where Social Security no longer exists. So something to think about. They do. The Social Security Administration does put out that statement. It's going to happen around 2033, 2034, whatever the date may be, that they you could see a reduction of almost 25% in your Social Security. So if you're not planning for that, you may want to give us a call or go to our website to set up that free consultation and you can then do some planning.

Jeff Holmes:
We'll show you how to do planning for that. Now, the government has increased Social Security checks by 8.7% for 2023. That is the largest cost of living adjustment to benefits for four decades. And the Internal Revenue Service has made inflation adjustments for 41k savings accounts, increasing contribution limits by 22 to 22500 for 2023. About 60 million. I think that's a typo. There should be about 20000 to 2000 to 22,500. And about 60 million American workers have 41k plans, according to the Investment Company Institute. The amount of money a household will need to retire depends on how many variables, including their people and their standard of living and where a person expects to care for their parents or children in retirement. Also, big factors. So if you don't have an income plan in place for your retirement, you may want to think about giving us a call. We might be able to help out in your situation. We can build you and your family plan that has your money working hard for you as you work for it. So we'll be back in just a moment at the rest of our shared retirement show.

Producer:
Thanks for listening to Rest Assured Retirement with Geoff Holmes. If you like what you're hearing, subscribe to the podcast and leave us a review. Wherever you listen to podcasts.

Jeff Holmes:
Welcome back to Rest Assured Retirement Show. Geoff Holmes is certified retirement Counselor and Certified Financial Fiduciary. We were just going through an article on the magic number for retirement. I want to kind of finish up on that a little bit. One of the things that many of you may remember, there's been more than a few commercials on different companies will put out that. What's your magic number? And they'll have different numbers for different people. Well, there's a big misconception about retirement. Too many people believe retirement is about saving money and reaching that one bit magic number. The reality is that as far as reality and actually what's going on is retirement is much more about the strength of your income plan than the size of your nest egg. Now, why do we all think that there's got to be one big magic number? Why? Why is that? And you have to ask yourself that question. Why do I believe that? Well, could it be that over the 30 to 40 years of your working life, that that was all you were doing is saving for that and just gets ingrained into your thinking? And then when you get to retirement, you realize, okay, we've got to live off this money. And it's you you think about, well, the market's going to be going up and down, up and down.

Jeff Holmes:
And that is a common thought process and a very, very real. A lot of people experience that. So one of the things you do have to remember, there's going to be a little bit of a change in the way you think it's going to really be more about income than it is on the size of your nest egg. So a little bit of food for thought there. Now, we've mentioned that if the full retirement plan consultations that are complimentary to all the listeners of a show and what we do during those consultations is one, we listen to you and listen to what you are looking for. As far as retirement goes, we provide consultations that obviously no cost or there is no obligation whatsoever and you only work with us if you feel it can be better for you. And always remember that if we're not a good fit, it's okay, no problem. We also analyze your specific and unique financial situation because everybody's situation is unique. We will discover exactly how much you are paying in fees and help you cut unnecessary costs in your retirement accounts. And we also help you answer questions on specific situations. They are as far as your Social Security benefits. If you've not had a Social Security benefit analysis or a break even analysis, please give us a call.

Jeff Holmes:
So there's something that's been going on here lately, and there is a little known benefit Social Security Administration had for people that were born before 1954. And if you want to call in and call in at 4804549191 and find out a little bit more about that. You may want to do that and there's a reason for it. There's money in it for you potentially you may or may not qualify. There's obviously some things there as far as qualification, but. One adjustment to Medicare clients called in and found out that she wasn't getting this. And actually Social Security called her about this, but they weren't very detailed, nor can they be as far as her specific situation. But it meant quite a bit of money that was not paid. And some of your friends, maybe some of you know that out there where all of a sudden they're getting a lump sum check for thousands of dollars from Social Security. So that's a really important time here because this benefit is going to be disappearing here very, very, very soon. So it's something that you may want to definitely find out more about because there is a lot of money in that I've seen. The numbers are pretty large.

Producer:
It's time for this week's problem solver.

Jeff Holmes:
This week. What we do is talk about how hardworking savers but not effective investors. And this couple is Mark and Linda. The names were changed to change, to protect the innocent as they stay on some of those shows and they have 1.15 million total in their retirement savings. They were business owners that operate a tennis training center, having played in a lot of tennis of my past college tennis. Yeah, I have a soft heart place in my heart for them. They obviously say very well and made a good living, which is good to hear. But as they got older, it's more difficult to run their business. Mark now needs surgery and Linda needs knee surgery. Well, if you've been playing tennis and teaching tennis for that long. Guess what? Something. Those things tend to happen. So throughout their working years, they saved excessively, but had no plan in mind. They have been risk averse in their portfolio, has lost too much value this year. Some of you may relate to that. They didn't know that they are not in the market options to protect and grow their money. They didn't know that they weren't doing that. Now, as far as their expenses, they had $5,000 a month in their combined Social Security benefit is going to be paying them $4,000 a month.

Jeff Holmes:
Now, we also plan for that to be less if it's the outward work. Now there's something to remember about Social Security planning. If it's a couple and one of you passes away, you will lose one of the the smaller amount of Social Security that you are receiving. Whoever's got that coming in will go away. So you could lose as much as 50% of your Social Security. So keep that in mind. You've got need to plan for that. They wanted to enjoy retirement, travel while they're still young and enjoy a higher lifestyle. Now, any of you that have gone back to work because you lost money in the market, you may want to call in and we can maybe show you a plan where you can basically maybe retire, go ahead and retire and not work and still be able to go do what they're wanting to do, retire and travel while they're still young. There are some things called the go go years. Those are early on retirement years. The slow go years is typically late seventies. Eighties may be different for different folks. And then there's also what they call the no go years. So if you're going to go have fun, try to do it in the go go years.

Jeff Holmes:
So as far as what was the solution to their plan, what we did is we implemented a smart risk plan that includes a bond replacement strategy that eliminated some fees on their bonds and established an income they could never outlive. So keep in mind, we don't make money on rebalancing, but brokers will charge high fees, so be careful when it comes to rebalancing of your investments. So if you're about to retire and you've lost more than 25% in the market this year, and you need you may need to seek some professional help if it's affecting you in a very negative way. Also, if you saw the stock market falling and moved your assets into cash, you need to talk to us. There may be a way to protect some of that money and still continue to let it grow. And also, there's another thing you may want to look at is if you are primary breadwinner of a household and you don't know where to start, is finding your financial plan. Please reach out to us today at Rest Assured Retirement dot com or call 4804549191. It's time for our next break. We'll be back in a few.

Producer:
You're listening to Rest Assured Retirement with Jeff Holmes visit Rest Assured Retirement dot com.

Producer:
You're listening to Rest Assured Retirement.

Jeff Holmes:
Okay, everyone, we just got through going through the problem solver moment to finish up a few things on that. Also, as far as the different situations that this couple faced and one of the first situations that you'll notice we did talk about their expenses and their what those were, they did get a handle on those as part of retirement planning. One of the first things that we recommend that you do is start finding out where those expenses are at. What is your cash flow look like? Obviously, when you retire, some of that may go down because you're not driving to work, you're not paying for as much gas. There's a lot of factors to that may be involved with that. You may be paying off a home. So it is very important to kind of get a handle on that because what's going to happen is that's going to be the basis of what you need income wise in retirement. And it's very important that that gets taken care of. And then also how much of that expenses are going to be paid for with through your Social Security income? And also, will you still be able to make and pay those expenses if, heaven forbid, if you're a couple, one of you passes away and you lose some of your Social Security there or the you you don't have enough in savings yet to go ahead and continue to make up the difference between the two. So it's and there's also that planning that you really need to take a look at is what if they do reduce that Social Security income like they've talked about back starting in 2033, 2034? Some very important things to start planning for.

Jeff Holmes:
Is your accounts set up to be able to handle that? One of the things that they were doing is they were basically in the market, totally in the market, and that is where they were really wanting to get away from potential losses in the future. And why would they want to do that? Well, if you're still young and I've had clients. Potential clients and clients that call in. Always making sure that, okay, are we going to be okay income wise is for some potential clients and people that have called in. What we found is a lot of them have said, okay, I've lost 20, 25%, so we're just going to go ahead and. Stay working for a while. And go ahead and do that as part of the solution. And the main reason we find that that happens and I don't know if any of you have heard of something called the 4% rule. Well, the 4% rule is a rule where you are to be able to have your retirement savings last for 30 years. You need to only be taking out no more than 4%. That's a get into a lot of fancy calculations that are called the Monte Carlo simulation. There's a lot of things that do that. And then they find that the highest way to success would be taking out no more than 4%. Here's the catch to the 4% rule. And they now found that maybe 3% is more like likely to give you that chance of having your portfolio last that long. And why do you think it went down to 3%? What? What could it be?

Producer:
Inflation.

Jeff Holmes:
A small thing.

Producer:
Yes, that little tiny thing.

Jeff Holmes:
Market downturns where everything goes down. There is no safe place is hardly as far as it's in the market. And so you're in a situation where just imagine that's happening in your. Your late seventies or eighties. Can you go back to work? Probably not. And do you want to be in that situation? So since we don't know what the future is going to hold and really when you get down to whether it's a 3% or 4%, that tends to be a guess. And who can predict the future. You have to ask yourself a question there. Who can predict the future? Well, no one walking on this earth right now that I know of can. And you have to. You have to think about that yourself. Is there really isn't any way to predict the future. So if you can't predict the future, why not plan for just about everything you can imagine in the future in your retirement to where it is a solid retirement that you can rest assured? That's where the title came of this show. Rest assured in your retirement that you you have a high, high likelihood that that's going to work for you. So that is something that I just couldn't leave that one situation. Go on that. So again, something very important to do. We're coming up on a break here and we're going to talk a little bit, come back, talk a lot a little bit about if if you're the one in the household that is doing all of the planning and the other spouse is not. So we'll talk a little bit about that here in a few minutes and we'll be back soon.

Producer:
Rest assured retirement is available wherever you listen to podcasts and online at Rest Assured Retirement dot com.

Producer:
You're to Rest Assured Retirement with Jeff Holmes.

Jeff Holmes:
Okay, back to the Rest Assured Retirement show. I'm Jeff Holmes, a certified retirement counselor and certified financial fiduciary and joined here by my co-host and producer, Matt McClure. And we're just going through what we call a problem solver. And that's just talking about one of the clients that came in had issues and how those were fixed for them. Now, one of the issues that comes up in that many, many times, and that is where one of the spouses is the they're doing their do it yourself or which is fantastic. They've been doing it for many years. They enjoy doing it now. And we're going to get into this a little bit further here. Also, in the right or wrong test, your financial knowledge segment, that's coming up here in just a second. But what happens in that situation I see it often is you're doing all of that, that yourself could be your wife or husband that really doesn't have much knowledge. And that's not one of their strong points. It's pretty normal in a marriage. So what happens is you have this one person that's really up to date with what the retirement planning is. Now, that's a very good thing to be able to have that knowledge and to do that, because one of the things I always tell everyone is that and you have to think about that, who knows your situation the best.

Producer:
That will be that will be.

Jeff Holmes:
You. Yeah, exactly. You're right, Matt. That's exactly right. You do. So it's good that you're involved that much. Obviously, if you're not, that's not your strong point and you need some help on that. You can call us at 4804549191 or go to Rest Assured Retirement dot com and schedule free consultation or just call in and have a question or two answered. So in that situation I've helped. There's many people we've helped in that situation where yeah, they still do a lot of the the retirement planning themselves. But then I just basically as a sounding board help direct them in other ways they can improve their scenario. It's obviously when you're doing that free consultation, it's not just a, you know, real quick thing, all good things take time. So you you realize it is a process you would go through or you understand other options you may have and decide whether those options are going to work for you. So that's a little bit about on that, a little bit more on the free consultation and how that might help you in a situation where one of the spouses is also a do it yourself.

Producer:
Come on down as we test your financial knowledge in right or wrong.

Jeff Holmes:
You go ahead and we'll go through these questions.

Producer:
Yeah. So this is where you get to sort of play along with us and test your financial knowledge at home or in the car or wherever you happen to be listening to us on on the radio or on our podcast. And so what I'm going to do is present some statements here, and Jeff is going to tell me whether those are right or wrong. Pretty simple concept. Play along. See how much you know, here, here is number one. Jeff in the statement is it's too expensive to work with a financial advisor or a financial professional and you'll just be better off managing your money on your own. Is that right or is that wrong?

Jeff Holmes:
Well is wrong, or at least it should be wrong. So keep that in mind. Financial advisors or professionals help you save and keep more of your hard earned money. That's if they're doing their job. That's important. I put that caveat in there because I've seen the opposite a few times. It's important to work with someone that's licensed professional that hopefully is licensed not as a fiduciary and certified as a fiduciary. That's very important because they are binded by that to do things in your best interest, which is very important. This is where I just got into that part about do it yourself four, which is great. It's I love working with do yourselfers because they're already very knowledgeable and they understand some of the concepts right off the bat. But why it's important is if something were to happen to you and you were taking care of all that, who's going to help your spouse out during that time and do the financial planning after you pass away? And unfortunately, as life goes on, we've seen a lot of our friends and I've seen a lot of clients pass away. And what we end up doing is helping the spouse. And that's very are the surviving children, for that matter, on what to do next and help them through that and help them continue on down the road there. And that's where we do those complimentary consultations to show how we can provide what we call results in advance planning. If you want to know more a little bit about results and advanced planning, give us a call and we'll be more than happy to go through that with you. Okay, Matt, what's the next question there?

Producer:
All right. Number two, if your employer does not offer a pension plan, there's no other way for you to create a personal income stream that you can never outlive. Is that right or is that wrong, Jeff?

Jeff Holmes:
Well, that is definitely wrong. And there's a lot of ways to set up a personal income stream, one that is works real well. And, you know, you talk about pensions, you know, and having a pension plan. There's just how many pension plans are out there nowadays.

Producer:
It's like finding a unicorn, basically, you know?

Jeff Holmes:
Exactly. Exactly. Well, one of the funny things about the people that have pensions and is taking care of their expenses, you think they're happy about that or are not happy?

Producer:
Oh, I bet they're thrilled.

Jeff Holmes:
Yeah, they are. They're very happy. They're very comfortable. They're really enjoying life. And most of the pensions, most people don't know this, not all of them, but most of them. And I help my mom with this years ago. And what they're really based on something called annuities. And what they'll do is allow people to do is protect and grow their wealth and establish an income stream that they cannot outlive. Now, when you mention annuities, you know, there's a lot of different feelings that get into that because when you get online, start checking those out, depending on the advisor or the whoever did the article is. There's a lot of bias involved in The bias comes from what they do for a living. Are they mainly just focusing on helping people that are in the market or are they mainly dealing with insurance and annuities? So what you get is what I call subjective articles that are giving you a biased view, and they do it in many different ways. I've read some of the articles and they confuse me. It's what they're trying to explain. But the thing about annuities is if you want to learn more about those, I can call in at 4804549191. I can direct you to some articles that have been done by well known economists that give you all of the pluses and minuses of those.

Jeff Holmes:
So you get to know the ins and outs of those. I have one particular one that gets into fixed indexed annuities that are basically something that's tied to a market index that allows you to get higher than normal gains. I say that those call that reasonable rates of return. You know it's they're not built to make the market gains that what they do in hand is can provide you a guaranteed income your principal is 100% guaranteed. We can tell you a little bit about how that works and you cannot lose money. And in those during this time, people that had fixed indexed annuities lost 0%. So a little bit better than losing 20 to 25%. So that is one of the things that they can do. So getting an objective view and knowing what the pluses and minuses of what annuities are is very important. I've spoken with people that, well, I read nothing about them, I hate them. And so, you know, that's like, you know, you have a stock that you lost a lot of money in and saying that all stocks are bad. Would that be a very objective statement?

Producer:
That would not be a very logical statement in my mind here.

Jeff Holmes:
No, because they're all different. Yes. And yes is a complicated yes. That financial products seem to have gotten more complicated over time. So it does take time for you to understand how they all work. And that's what we're more than willing to help out and do.

Producer:
All right. As we continue in right or wrong here. Number three, you won't learn much in a first appointment with a financial advisor. Is that one right or is that one wrong, Jeff?

Jeff Holmes:
Well, I sure hope it's wrong, because once that, for instance, once we have your financial situation, financial statements, we can show you the risk you're taking. Pretty easy to do in today's with all the technology we have today. What fees you are paying and the correlation of your assets. And you're wondering what is that fancy? What's that all about? Correlation, your assets? Well, you may find that you have an IRA and a Roth IRA. And if you put them both together, the investments them in, those are almost the same. That means they're highly correlated. Now, is that wise thing to do or is that A it might be smarter to diversify, you know, a little bit more than having things in the same place. And and why would they have you in the same place in both of those accounts? So you may want to look at your accounts and see if you see a lot of the same investments in those. And we'll basically show you how to avoid doing that and how you can protect and grow your money without investing in the stock market. Maybe you're fine stock investing in the stock market because of your situation, maybe have the pensions. But if you don't, maybe you need to have a good income plan. So there's a lot of questions that have to be answered there. So we feel that all of you listening deserve to know how much you're paying in fees. It's very important you deserve retirement, that the retirement that you worked so hard for. You've got to enjoy that now, going on to the next one. Go ahead, Matt, with you on there.

Producer:
All right. So last one here. In right or wrong, from a fee perspective, ETFs, which are exchange traded funds, are far superior products compared to mutual funds from a fee perspective. Is that right or wrong, Jeff?

Jeff Holmes:
Well, from a fee perspective, that is right. Etfs are much more fee efficient. They have something. There's no 1281 fees. And if you don't know what 1231 fees, you need to call in. 4804549191. You may have never heard of that. I like to call them. They're a little bit on the hidden side and that's something to know about and very important to know what those fees are. You need to know all your fees and they offer. The thing about exchange traded funds, they do offer the same level of diversification as mutual funds. And one thing I really like about those is they can be traded within a trading day, just like a stock, while mutual funds must be traded between trading days. And if you don't understand that, you can go to Rest Assured Retirement schedule. Consultation will be glad to go through that with you. Also, you can call in 4804549191.

Producer:
Here's the cost cutter of the week.

Jeff Holmes:
An article that comes from Fidelity is how to plan for rising health care costs. Did you know that 10,000 baby boomers will be retiring every day through 2032? Now, that's a little crazy to me. And what we found is health care expenses are a major budget in retirees in America today. That number in 2022 because of something called inflation, now called the I word, is that spending in retirement on health care can be as high as 315,000. So that's where it becomes real important to review your Medicare every two or three years. You could be losing out on money that because of the existing plan you have. So you need to re-evaluate those options like we spoke about earlier and find out where you stand there.

Producer:
It's this week in history.

Jeff Holmes:
Don't want to miss this. This happened back in November 6th, 1984. Us President Ronald Reagan won the reelection bid in a landslide victory over Democrat challenger Walter Walter Mondale. Believe it or not, he had 525 electoral votes and he had 58.8% of the popular vote. No other candidate in US history has matched Reagan's electoral vote in a single election.

Producer:
Yeah, huge, huge numbers there. Yeah. Mondale actually only won his home state of Minnesota and Reagan swept all other states in that election. Just a huge landslide.

Jeff Holmes:
Very amazing. So that's it for this week, folks. And I hope you have a great rest of your Sunday. This is Jeff. I'm signing off from Rest assured Retirement dot com. And if you want that free consultation, you can go there or call in at 480 454 9191. And have a great rest of your Sunday.

Producer:
Thanks for listening to Rest Assured Retirement you deserve to work with an experienced and licensed expert who will strategically work to protect and grow your hard earned assets to schedule your free no-obligation consultation with Jeff visit Rest Assured Retirement dot com RestAssuredRetirement.com Or pick up the phone and call 480 305 5661. That's 480 305 5661. Assured Financial is an independent financial services firm helping individuals create retirement strategies using a variety of investment and insurance products to custom suit their needs and objectives. This material has been prepared for information on educational purposes only. It is not intended to provide and should not be relied upon for accounting, legal tax or investment advice. Advisory services are offered through foundations, Investment advisors and SEC Registered Investment Advisor. Certified Financial Fiduciary. Cfh is issued by the National Association of Certified Financial Fiduciaries. Cff is reserved for financial professionals who have successfully completed a certification and training process established by the NAACF and the AFEA.

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