9.27.22: Audio automatically transcribed by Sonix

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

Producer:
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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:
Well, welcome to the Rest Assured Retirement show. I'm Jeff Holmes, a certified retirement counselor and certified financial fiduciary. I'm joined here by Sam Davis, our executive producer. Say, say hello, Sam.

Producer:
Hey, Jeff. So happy to be here producing the first episode of Rest Assured Retirement. We're going to bring some important information to all the listeners out there in the Phoenix area and all beyond on the podcast networks, because rest assured, retirement is available wherever you listen to podcasts. So stay tuned for some important information.

Jeff Holmes:
Great. Thank you, Sam, and glad you're all with us. I was told by Sam I thought it was very wise to give a little bit of history about myself, so I'll go through and do that first so you know who you're listening to. Obviously, I'm not a native of Arizona. Very few are. We moved here from New Mexico years ago and that was we were basically recruited by my mother-in-law. So that was a pretty strong reason for moving. And we came over back about 20 some years ago. I found myself going into the financial services industry as far as specifically to retirement planning. Now, before all that happened, I let you know I was a civil engineer. That was my training. First job out of school was overseas, and then we had had several jobs. The reason for that is there was a lot it was a bad economy and many of the engineers were losing their job and I was one of those. So one day I walked into a office where we were looking to get advice on financial services, and there was one of the guys I graduated with, another engineer, and I said, What are you doing here? And I thought he was there doing the same thing I was. Well, he says, No, I'm doing this so I don't get laid off anymore. So that's where this all started. So when I fast forward back to what I was speaking about there, started getting into retirement planning.

Jeff Holmes:
It was something that was a little bit of an interesting history. Originally, I was being taught that you should do estate planning and then also using the 6040 model, 60% of a person's investment would be in stocks, the other 40% would be in bonds. Well, that's where I started in the late nineties and then in the early 2002 thousand, you know, basically 2000 to 2010, which is something everyone calls the lost decade because of the two situations that happened there starting in 2000 itself a little bit for 2000 and then 2008. So that model of doing the old 6040 split. What I found out didn't work real well, and I was lucky enough to be educated by an individual that was doing a little bit different type of retirement planning. So I learned that started using that extensively more than 15, 16, 17 years ago. And what we found out was when we did this new type of retirement planning, we found that everything worked better. People were happier in retirement. So the title A Rest Assured Retirement. And I have to thank Sam for that. He's the one that came up with rest assured. And then we I asked about adding retirement to that and he was kind enough to go ahead and agree with me on that. So that's where that all came from. And rest assured, the reason for my thoughts I was giving Sam some ideas on this was first off, the rest.

Jeff Holmes:
One of the issues that I found with many of the people and I'll give you stories as we go through this because I, I will get into a story here real quick about this was they don't sleep well at night. And with everything that's going on in our economy, in the world today, it's a crazy, crazy world we have going on. And our pastor says it's a strange new world is what he's saying. But it's basically a very, very difficult time for many people of the people that do this newer type of retirement planning that I have been fortunate enough to. And and it's really not me. It's something I learned. It's something that they took a hold of when I explained that to them. What I found out, they all sleep well at night and they're very assured in their retirement. Thus the title, Rest Assured Retirement, they all sleep well. And the number one thing I've noticed, the difference with people that do this type of retirement planning, they're much more happier by doing it. And I'm going to get into that today a little bit. And then in the next six or seven sessions, we're going to get into all the particulars about how this type of retirement planning works. This is really the I've been on the radio before and actually TD once this is so it's not completely new to me, but I was a guest before.

Jeff Holmes:
So leading the way, you just hang with me here and we'll see how an old engineer does on the radio going forward. From there. I eventually was able to fine tune this a little bit and also I have a partner in my company that happens to be my wife. She helps people with their Medicare planning because that became a situation that I had helped people with. But because of the federal government making life a little bit more complicated and give me a quick, you know, call on that or if you agree with that, let us let us know if you agree. But it seems like the more they get involved in these different systems, the more complicated they get. The same with doing Social Security planning. It's all gotten more complicated. So basically that is what we'll be going through is all the different aspects of retirement planning. So. One thing's that I'll also be offering, and this is when I was teaching classes at different colleges in the universities, and this is back in the day when we were in New Mexico, I ran into one of my old college professors and he said, Why don't you A found out what I was doing? I explained to him while it was happening and about getting laid off. He says that's a common theme. So it made me feel better for sure. So the thing that we got into as we talked was just all the different aspects.

Jeff Holmes:
Now, I don't know about you, but I did not ever have a class on retirement planning. I don't know very any hardly anyone ever had that type, of course. So one things he said, because I have all these engineers that are really good at what they're going to do, but they need to really be taught a little bit about retirement planning. That happened to me. My first class went back to my old engineering department and I taught there for an hour, which I didn't think was possible, but it was amazing. On how receptive all the senior students there were to hearing some of these things. So because I've taught these other classes since then at community colleges, the university there where I went to school, one thing I always found is everybody always had questions. So what we do this and this on this radio show, I just see this a little different format where I'm meeting with you an hour every week instead of a course that goes on for 6 hours. And what we'll do is we'll go ahead and offer the same thing I was offered them. It was a complimentary consultation. And what that means is basically you may have questions on what you want on your specific situation. Pretty hard to ask it on the on the radio, obviously. And so what we'll do is we you can call in to rest assured, I call in to a phone number I should say 480 454 9191.

Jeff Holmes:
Again, that number tried to find an easy one is 480 454 9191. And by the way, we do have an office over in North Scottsdale and over in north Glendale also. So we kind of try to cover the whole valley in that situation. So getting back to that consultation is we will sit and just talk, just get to know each other a little bit. That's the main goal and I'll want to know a little bit more. What is most important to you at this time in your life, what your goals are, what concerns you may have, and what would you like to accomplish from that is what we can do is talk a little bit more and then at that point we'll find out if we're a good fit for each other. And if we are, we can move forward into what I would call the full retirement plan consultation, which it is complimentary to to all listeners of our radio show. And obviously if you're listening to the podcast, so we'll go through that and this is divided up in different segments. It's obviously not going to happen in just a quick hour, but it just depends on what your needs are. What we'll do is we'll analyze your current and specific financial situation, will closely examine all of your different accounts and and what are we going to be doing there, saying, okay, hey, these are your fees that you're paying.

Jeff Holmes:
Were you aware of that? Any unnecessary costs that you may have in your retirement accounts, your IRA, your 41k403b, those types of things. And then one of the keys to this now it's really important to remember this is these calls would be mainly for someone that's heading to retirement or already in retirement. And if you've got retirement coming up in about five years, it would be a very good time to start this process. I would not wait until one year. Of course, if you're already there, it's better to start now than later. So what what you'll find is will do two of the most important things that you'll need to know right away in retirement. And that's you're doing a Social Security planning report which includes a break even analysis and also do some Medicare education. I won't be doing that. That's my partner. Jocelyn will be doing that. That's my wife. And when she took this over, boy, it's been about 14, 15 years ago. I do have to give her a shout out for being a very staying married to me after I did that, because a pretty, pretty difficult situation. And then we'll compare your current situation and see if it's possible for us to work together there. We do that in a retirement plan. Now, I'll continue on. It's about the time we're getting ready to go into a into this segment here. And we'll be back here in just a few moments.

Producer:
Chicken and chicken now. Are you interested in protecting your assets from market volatility, rising taxes and economic uncertainty? Then tune in to Rest Assured Retirement with Jeff Holmes to learn how you can protect and grow your hard earned money. Rest assured Retirement Sundays at 1:00 PM right here on 960. The Patriot. Protect your hard earned money today and schedule a free no obligation consultation now at RestAssuredRetirement.com

Jeff Holmes:
Welcome back to the rest of the shared retirement show. This is Jeff Holmes. I'm a certified retirement counselor and certified financial fiduciary. I'm joined here by Sam Davis, our executive producer. And if just one of the things I'd like to mention right now is if you missed the first segment or you miss any parts of this radio, make sure you go on to our podcast wherever you may be listening to podcast. And we just finished up the free consultation that's available to all listeners, and we'll review that here a little bit later again. So you get to hear that. But we always like to have what we call the quote of the week financial wisdom. And Sam, why don't you go ahead with that?

Producer:
And now of wholesome financial wisdom, it's time for the Quote of the Week.

Producer:
This week's Financial Wisdom quote of the week comes from Zig Ziglar. You may have heard of him. The quote is expect the best, prepare for the worst, capitalize on what comes. Jeff, what do you think of that?

Jeff Holmes:
How very true. I use this in a similar way for many years now, because one of the things that people are always concerned about in their retirement is the future. And I always like to ask who can predict the future? Yeah, you can answer that for yourself. No one that I've ever met, at least on this earth at this point in time. So if you and I would follow that up with. If you can't predict the future, shouldn't you just prepare for whatever the future may hold for you in retirement and approaching it that way? You're basically capitalizing on what comes. And Zig Ziglar very wise in that quote. He fully understand what he was saying there. And that's just what I gave you. Just a little bit different. Look at the same quote there. Now, what we're going to go into next in this segment and probably will go into the next two or three segments here is five important things to own during retirement. And this will be a little different than what you're expecting to hear. I will tell you that because they a little bit on my going back to my background a little bit. I grew up with a dad that was a very, very good mechanic.

Jeff Holmes:
And he first started off being a mechanic at a very, very young age at at a place where there was a an airport that was servicing World War Two planes, because World War two is going on at the time. And he was helping all the mechanics that were working on these planes, like the B 25 bomber, and he was helping them out, carrying batteries and doing all these things that he did. He later became a very good mechanic because he had worked on trucks and then later cars. And he finally ended up in a situation where he found out that, hey, he could fix these cars up and then sell them. So he ended up with a friend who had started a used car lot and he was the became the town mechanic, this is. And he was that way for over 60 years. He was at that at age 85. My brother called him one day and he was underneath the car and he told my brother, Hey, can you hold on for just a second? I need to get out from underneath the car. He was actually changing the oil for an old client or customer, I should say, which I thought my brother called me immediately, you know, What's he thinking? But he was having fun doing what he really, really loved to do.

Jeff Holmes:
So the first thing to own during retirement fits right in with this. And it's called a having a reliable vehicle, a reliable car. You don't really want to rely on others to get rights to you. You want to have that independence. And I know that I've seen people that they get later in years thinking of my grandmother, who lived almost 100 but age 98, early 99. Mom and dad decided that she shouldn't be driving anymore, even though we were a real small town, because and that was very traumatic to her. And I've seen other clients that have had to do that and losing out on the freedom that a car gives you, it's great to, you know, obviously getting your medical appointments to church, seeing family. It's great also to have one that'll go on road trips. You know, you can go visit all the grandkids. And that's always brings up a question Who do you like better, your kids or your grandkids? And I already know the answer to that. What do you think it is, Sam?

Producer:
Well, I would expect that most grandparents have spent enough time with their kids and they probably enjoy spending a bit more time with the grandkids these days.

Jeff Holmes:
Oh, yeah, definitely. When we had our daughter, I opened the door. They hadn't seen our daughter yet. My mom dad just walked in and I was like a ghost. They didn't even see me. They went straight to her. So I learned very quickly that who they like the best at that time was number two for sure and in their eyes. But there's a big thing on that, having a reliable vehicle. And luckily nowadays, as the cars are much more reliable than they were when we were growing up and having something that's safe and it gets you somewhere you can, having a reliable vehicle avoids those emergency situations. And little tidbit and this is Dad speaking to me and one of the things he always says is don't skimp on the tires. Always make sure you have great tires on your car, because that's where the majority of your problem is going to come from. And that's very true here in the Phoenix area. That's when a lot of people are broken down on the road, especially during the summer, because their tires blew out. Okay. So what's the next thing? Pretty simple. Oh, yeah. Freedom to do what you want. You can put a nail in the wall, hang a picture of your grandkids, you know, those types of things. And it becomes a very valuable asset in your retirement planning. I just had a client end up going back to where she was from. She moved her out. She moved. Here to Scott from New York about 25 years ago to Scottsdale, became a client not too long after that.

Jeff Holmes:
But now she's 86 years old and her three sons thought it'd be a good idea if she gets back to New York close to them. And that was a very good move on their part. But that home has provided her with some extra assets and values for her retirement, and we did the planning without that. So it's not really something that she has to depend on, but it's a nice little. But for our benefit. However, we'd like to say that very valuable. It's also a safe, clean, comfortable place for your lay, your head, you know where everything's at. And you have that freedom and quiet there now. That brings up an issue there about paying off your your home. That's another subject we'll be talking about later. That's a very subjective answer. It depends on your individual situation. So that is one of the things that you'll hear over the next six, seven weeks. And we'll get into that in more, more and more depth on that. So very important to have a basically a nice home to go to. And since this segment is ending here in the next few seconds here, what I'm going to do is I'm going to delay the next number three of the five important things to own in retirement. And we'll come back and get into the remainder of those items there. So we'll see you in a moment.

Jeff Holmes:
Okay. Welcome back to the rest of the shared retirement show. I'm Jeff Holmes. I'm a certified retirement counselor and certified financial fiduciary. I'm joined here by Sam Davis, our executive producer. And we were just going through the five important things to own during your retirement. And before I really get into that, one of the things I like to mention is that we do offer a complimentary consultation to our clients. So if you have questions on what you're hearing here, you can go to rest assured retirement dot com and set up a time to do that or call 4804549191. Again, that number is 4804549191. Getting back to the five important things tone to your retirement and the next one will probably take at least is the one that will spend the most time on. And the first one, the number three on that list is having an emergency fund. And what's an emergency fund? First off, do you own up to having an emergency fund or just to have money in savings or in checking? Is it earmarked as an emergency fund? And emergency funds are very important for unexpected problems that may arise. You may want to have enough liquidity to cover those emergencies. And living in Arizona, there is one thing that's pretty obvious. We're kind of getting out of the summer now, but having an air conditioner break down when it's 110 out is not a very fun thing to go through or needing repairs on that car that you're driving, getting the tires like we just spoke about.

Jeff Holmes:
So how much should you have in an emergency fund? Well, that varies and it varies from 3 to 6 months. I have some people that feel more comfortable with 12 months and even some that like more than 12 months. It depends on your given situation. So the big question is, is how do you decide how much to have in there? And that question kept coming up. And my clients always ask me, what do you think? What do you think about this? And I would basically say, well, are you sleeping good at night right now with the amount that you have in there? And just I thought, let's go there. And they would say yes or no. And they said no. I say, Well, why are you waking up at night? What's what's making you think that way? And they say, Well, I don't feel like I have enough or I feel like I have too much and we need to go do something with that that earns a higher interest than what the bank is paying, which hasn't been much lately, has it? And so that is one of things that I found is a good indicator of what you should have in that emergency fund. Any thoughts on that yourself? Emergency Funds

Producer:
yeah. Jeff, I know everybody has that different number in their head for what they're comfortable with to have an emergency fund. You know, six months expenses is a pretty good rule of thumb that can make sure that you could cover something like a broken air conditioning system or maybe losing your job or losing a source of income for for a couple of months. An emergency fund can help cover that. So I know that for me and my wife and our family, we like to make sure that we're always keeping that number set aside as an emergency fund. And whenever you've got a new income source coming in before that paycheck comes in, know where every dollar is going to go, tell every dollar where to go. You know, it's better to be living and actually be wealthy than be living. And it just looks like you're wealthy. But secretly, behind the scenes, you're struggling to make ends meet paycheck to paycheck. So you want to have that. Emergency fund set aside.

Jeff Holmes:
Well put. Very well put. There's something interesting about this. Number three and five important things to own during retirement. And the emergency fund just happens to be the first step in developing the retirement plan that I was speaking about earlier. The retirement plan. Step number one, get that emergency fund. Step number two is have a place are that that you can have income coming from in retirement. Now, not too many people have pensions. That tends to be one of the main things that happened years and years ago. But fewer and fewer people have pensions and that is an area that most people miss in retirement and we'll get into later. I'm not going to get into that, Dave. We don't have time yet to do that, but we will get into that into the next shows we have in the coming 6 to 7 weeks and that will be covered along with many other different things you should have in retirement and how the retirement plan works, having what I call a smart retirement plan. And then also along with that, you still need to have money in a growth area for future inflation or current inflation, as we should be talking about right now. That's we're having a record inflation rate as we speak right now and has made it very, very tough for many, many people. And this is a huge thing as far as people that are. He just didn't have that middle step, that they miss the income. Where's the income going to come from? Because many of them had all their money in the growth side of their retirement and are heading back to work right now. So very sad, sad period of time. So now if you're having to head back to work or need some help, I would definitely recommend getting that free consultation. Set up a time to talk at RestAssuredRetirement.com . Or you can call 4804549191. again, the number is 4804549191. And we looks like Sam's telling me we got the end of this segment. We'll be going on to the final segment here and a few minutes and we'll be talking then

Jeff Holmes:
Welcome back. This is Jeff Holmes with Rest Assured Retirement radio show. I'm the certified retirement counselor and certified Certified Financial Fiduciary. We were just speaking about the five important things to own during retirement, and we've gotten through three. And does a Sam Davis, who's also on the on the show right now. He's our executive producer, was speaking of we were going to get into next it was something that you should own is insurance. Now what kind of insurance should you own in retirement? Well, the first two that really come to mind is obviously your Medicare of have Medicare having a medicare supplement or Medicare Advantage plan in addition to your Medicare is very, very important. As many have found out, Medicare doesn't cover all of your medical expenses. So very important to have that. Now, the next question as far as insurance goes is does Medicare long cover long term care insurance? Well, there is a little bit on that that they do. That's a very small amount and depends on specifically where you're at at the time. So really the answer you need to look at during in thinking like that is the answer should just really be no. And you should be looking at long term care insurance as a as are some way of taking care of long term care insurance. And also the thing that comes up is annuities.

Jeff Holmes:
There's certain annuities out there you can use for guaranteed income. Some of them are good, some of those are okay and some of them are not as good. So you need to know a little bit about those and how those might be helpful. Also, the fifth thing that I like to mention as far as you should, and everyone owns this and my parents would all have their schedule and the schedule would actually be a calendar that has a magnet stuck on the refrigerator on what they were going to be doing in the next few days. Nowadays, it's a little different situation because we actually have these little devices we carry around all the time and they have their our calendar right there. So the thing that the reason for carrying a good calendar and this is one of the things I think of the most of is first off, is having time to spend with your loved ones. Also, maybe you want to go see this great country. I have clients that are traveling around. They're gone for three months at a time and I get a postcard occasionally and they let me know where they're at. And that is some of the things you need to take into consideration. You've worked very, very hard for your whole life for this moment in time where you could go see this great country, even travel around the world, and what things you may really want to consider as far as your time.

Jeff Holmes:
And I have people do this. You may not want to spend a whole lot of your time watching the stock market or managing your own assets. That's a big one there. That's if you're having to do that, you have to think or is this a happy situation or not a happy situation? Would it be better maybe to set up a retirement plan that would basically help, you know, what was going to be coming? You you can rest well, you can be assured that it's working for you. You can review it on a regular basis, but you don't have to worry about having this big nest egg. And it's got to last your whole your whole life. You really don't want to run out of the money you have. And still, if you're outliving your money, it's not a very good situation. So what we're going to do next is we're going to get into something called right or wrong, and it's something you play along with us. And I'll basically maybe give you a little bit of delay, give you time to answer it yourself. The first thing I I'll go ahead and let Sam ask the question and he'll be in charge of asking the questions. And I'll just be giving the answers here.

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

Producer:
All right, Jeff, first statement on right or wrong. Here it is. Every day until 2030, 10,000 baby boomers will turn 65, and seven out of ten will require long term care at some point. Is that right or wrong?

Jeff Holmes:
Well, believe it or not, that is right. That is why we have a we do the what we think is essentials in the retirement planning we do is set up a smart health plan in place for your retirement. Health care costs, the biggest expenses retires, retirees face. And it's very, very important to do that. And it's going to be very interesting times seeing how life is in the next between now and 2030 with all the baby boomers retiring.

Producer:
Yeah, I think that's a really good point. Health is wealth and you want to be able to get to all of your appointments without wondering if you can pay for them or not. You know, you think of all the doctor's appointments that you'll you'll go to in your lifetime, and they're kind of concentrated towards the very beginning of your life and the very end of your life. So there's a lot of health care appointments to to attend as you're as you're in retirement. So want to have that smart health plan in place. Next statement. On right or wrong, you can have both a medicare supplement plan and a medicare Advantage plan at the same time. Jeff, is that right or wrong?

Jeff Holmes:
And this is a time when Jocelyn, who takes care of our Medicare planning in our office, will be rolling our eyes. Well, I better get this right or I'm going to be in big trouble. It's actually wrong. You cannot have a medicare supplement plan and a medicare Advantage plan. At the same time. You have to pick one or the other and you must choose which plan you want to go with and how you how do you do that? You first off, need to get educated on the pluses and minuses of each plan to see what works best for you, because who knows your situation best you Once you have the information. I feel like you can make a really good decision on what you feel is best for you.

Producer:
All right. Last statement on this week's edition of Right or Wrong, you can use an annuity to fund your Medicare expenses throughout your entire lifetime. Is that right or wrong?

Jeff Holmes:
And that is right. That is a very smart idea. Having some sort of income that is guaranteed annuities, whether you like them or not, provides a very strong guaranteed income. That's one of the areas that we found very helpful for many clients. If you have a pension that could ask, basically most pensions are based on annuities, so that can also be done using that. So yes, it ensures that you and your spouse are able to fund expenses on health care during your retirement. Very, very important. You do not want to not have enough money for those expenses. That is for sure. Okay. Thank you, Sam. I will go into our next area I'd like to go in to and it's called Smart Rules to Follow. And there's three basic rules that I think are very important. And they they work very good. They are rules of thumb, by the way, doesn't mean you have to follow them to the tee, but being aware of them makes your life much easier. I found. And and you might have wondered, have you ever heard of the roll of 100? Some people have, some people haven't, and the rule of 100. Basically what that does is you take your portfolio that is at risk. You take 100, you subtract your age from age 100, and that's going to give you how much money you should have that in that portfolio that's at risk. So, for instance, if you're 65 years old, you subtract 65 from 100. That's going to give you 35.

Jeff Holmes:
The rule of 100 is telling you that you should only have 35% of your portfolio at risk. As a rule of thumb, depending on your situation, it could be higher or it could be lower. Very important to know that it does work very well. There's a lot of people that put out articles saying it should be the rule of 120. And I'm kind of thinking now the rule of 100 is a better way to go. The next rule is the 4% rule. And if you have all your money at risk, you probably have been told this by your existing advisor. If you have an existing advisor, what that is, is 4% of your savings is all you should be using for income in retirement. And the withdrawal percentages every subsequent year would be then adjusted for inflation. As with any rule, there are some exceptions to it and depending on the situation, Some suggestions that I've been reading about is it's really should be the 3% rule. And this starts getting into another area where if you're and this is why people are not so happy in retirement, they're sudden they're pulling money out of a an account that is going up and down. And when it's going down and they're pulling out that for. Percent. They find that their money starts disappearing quicker than they ever dreamed it would. Thus they start going back to work so that we'll talk about in the future here on the as far as the smart retirement plan and then the the last of the three rules that I like to discuss is the rule of 72.

Jeff Holmes:
This is a quick and easy rule that you can use to find out how long it's going to take for your investments to double. And what that is, is you just divide what the interest rate you're getting from different investments. And an example of this, if you're getting 6% from an investment, all you do is you divide 6% into 72. That number means it'll double in about 12 years. It's not exact. It's again, a rule of thumb, something that is an estimate that you can use. And another way to look at that is if you had 7.2% interest, it would double dividing that into seven two would double in ten years. So we're kind of running down to the end of the show here. And there's a few things that we will be discussing in the next show. And what I'd like to do here is I would like to just briefly go through a cost cutter idea. I don't have much time to do this, so I'm just going to touch on this a little bit. I would if you want to know more about this, go ahead and call in to 4804549191. Again, that number is 4804549191. And you can also go to rest assured retirement to schedule that free consultation. And we can go through and explain this in more detail. One of the things that's out there is with the way the interest rates are going to continue to go up, you have to ask yourself what is happening to the value of your bonds if you do own those.

Jeff Holmes:
And obviously the value of the bonds has gone down. And why is that? Everybody says, why does that happen? Well, because the newer bonds that are coming out have a higher interest rate and they're more attractive to the new bond buyers. So the value of your bond that was at a lower interest rate is starting to decrease. Is there any thing you can do to avoid this type of situation? There's something called a fixed indexed annuities that give you a better rate return and they eliminate financial advisory fees you may be getting on your bonds. They eliminate that investment risk that I just went through. There's something that's also called reinvestment risk. The likelihood that your cash flows will earn less in the future than they should be. And they are also exposed to a systematic and unsystematic market risk. Systematic market risk is it's basically how it will affect you, the overall market. It's not particular to a stock or industry. It's the whole market as a whole that affects the value of your bonds. And systemic risk is the type of risk that's unique to a specific company, our industry. So we're going to end there and I would like to end this show with something I always like to do is the This Week in history.

Producer:
It's This Week in History.

Jeff Holmes:
On October 2nd, two things that happen that ring true to a lot of you is, first, a gentleman by the name of Julius Henry Marx was born in 1890. He's better known as Groucho Marx and the world has never been the same since. So that happened. He was born in Manhattan, New York. And then the second thing was a American singer songwriter by the name of Don McLean was also born on this day. And he, if you remember right, he wrote the song American Pie. That album, American Pie, was the album. And then in January 15th of 1972, that song, American Pie, became number one. And I think a lot of people still think it's the number one song. So a couple of things in history really, and enjoyed our time together today. So remember, you can get a hold of me for that free consultation and rest assured retirement .com Rest assured retirement .com And call our call our number at 480 454 9191 480 454 9191. And hey have a great rest of your Sunday Enjoy the afternoon and we'll we'll be talking next week.

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 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 informational and 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. Cph 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 ACF and the ACA.

Producer:
Fixed annuities, including multiyear guaranteed rate annuities, are not designed for short term investments and may be subject to restrictions, fees and surrender charges as described in the annuity. Contract guarantees are backed by the financial strength and claims paying ability of the issuer.

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