Jeff, Golf, Phoenix Arizona discussed on Kowal Investment Show
Plan. In addition to any retirement plan, you had there and also pass it onto your this is your legacy as well. So you have to be careful with it both in the planning stage, and once you actually do decide to pull the pin solid coal investment group now with five locations and again in Waukesha world headquarters in Madison Madison in port Washington now in Racine at I forty three and highway twenty so very visible. You said from the free I have not yet been to your receipt just opened up, right, right? Actually did the fire walk through Thursday. So it's pretty exciting. And then of course, you're in Phoenix Arizona as well information online, the co wall way dot com, check it out. K O W AL is how you spell that the co alway dot com, Ron WNBA Madison WFAN in Milwaukee. I it is ten thirty six Jeff on a Saturday morning. We'd love to take some of your retirement questions or calls if it has to do with taxes social security, some people just look at Catton cash for Jeff in retirement, right? I mean is that do you often ask that number? What's your number? What you need monthly. Well, that's what we do. And it's it's interesting because we've we've done seminars for years, and you know, I think I mentioned before in January you could chime in too. How much income they won in retirement? It'll be quiet for well dental care, look T both ways. Then suddenly all say I wanted one hundred percents that was much in retirement as I had when I was working. That's the big do on the same. Do you need more? Or can you get by buying lefty ideas that you want? What you're saying? Is that because there are some formulas you need sixty percent approved. No, whatever you're spending is what your net income. Now. You don't have contributions to plans that you may have less money taking off for taxes things like that. So it's a net spendable number. And that's we go with and what John had mentioned earlier with regard to inflation process is called a streamlined retirement process, and one of the activities in there is due to do the cash full analysis actually John runs allow those and you don't stop you. Don't stop retire or investing in retirement. Correct. In other words, I retire. It's all over. I don't have to. I don't have to save anymore. That's faults. You do have to keep saving. Right. You know? There is no magic bullet when it comes to your risk tolerance or s allocation there's some rules out there or suggestions, like take the number one hundred ten minature edge, whatever's leftover is your restock exposure. And the rest is bonds. I was here. The rule of seventy two we've talked about. That right. That's that's a different one. That your money doubles. The interest rate equals number of years. It takes to double your money. Yeah. And that goes from flation too. So inflation's running at three percent and use that rule of Sydney to everything in price. You double every twenty fraud years. So we're, you know, how many doubles of inflation. Do you have in your lifetime? So for the typical retiree in your mid sixties. They're going to have one double and a and a half of prices. Yeah. Ahead of that. But those casual analysis, you know, it'd one for some clients that their day, so because social security Pankshin social security in that Pankshin to care of most of their outflows and the rest was taken from their nest egg their retirement assets to make ends meet. And I always ask the clients to have any expensive hobbies will you travel a lot any home improvements. Are you going to buy a new car? You know, we want to make sure that these one off expenses are addressed as well that's lifestyle. I never thought about that. Let's say your horses or you've been doing something. I mean, there's a lot of expensive things traveling maybe like golf or maybe like to go to Vegas for a long weekend or you like to go to Las Vegas. Yeah. Do something like that it all costs money. Jeff, right. I mean, even if you golf twice a week, and you go to dinner twice a week. You're talking hundreds of dollars for that week. Do you have it or not, you know, are you gonna wanna live that nice retirement lifestyle, or you just want us, not many people are sitting in rocking chairs anymore? Jeff. Right. But you bring up a good point. It's a lifestyle issue, and you have to be prepared emotionally and financially FIDA just those able to support the lifestyle that that you've grown accustomed to. And that's what we look to do it Cologne. Vespas coop. And that's why we reason why we do what we do is try and help our clients are clients interests have always come we've always acted as fiduciaries putting their interest. I so in that process, we try to make sure that we address all the things that we would if it were our situation. What do we want to know about inflation about matching our asses? You know, we we've got a lot of resources that we can use..