Rick Santelli, Thomas, IRA discussed on Coach Pete Financial Safari


Oh, well when you retire in a defined benefit plan. You know that each and every year you pull up and there's the check for you. Sure you in a defined contribution plan. You could have put a whole bunch of money, and you decide where you put the money when you put it in right? You decide which investment options. And right win you retire. The market went the wrong way. Yeah. Right. So we're gonna talk about later on the show about how the advance and protect strategy is very important for folks that are using defined contribution plans. You're putting money away. You're getting a tax write off to put the money away. It sounds good right there. It does. The problem is Thomas when we get close to the financial red zone. Get you fired up. Right. That reminds me of football season. Does get ready for now. Here we go. We when you define when you get to retirement when you get in that financial red zone, which is five or ten years out, you really need to make sure that your money is accounted for, and you know, what's going on. And it doesn't disappear again. Right. When you need it. The most makes a lot of sense of really sounds like a defined contribution plans are really only getting us halfway there now. And so because we don't we can sit around and cry about the fact that the defined benefit plans aren't available anymore or we can do our own defined contribution plan. We put money away. Okay. Yeah. We get a tax write off in a 4._0._1._K for three BT ESP. But we reach certain ages fifty five to fifty nine a half many of the companies we work for. We'll let us roll that money tax free inter-arab very own plan. Okay. And plan could be a defined benefit plan. We could get we could purchase our own defined benefit plan through the insurance industry many times. So let me ask you what are the advantages to this? Well, now, you have an income you never outlive. You have a defined benefit plan. Tell you started with a defined contribution. Dan, you'd be like Tarzan you can get on at swing from one account to another tax free. And now, you can have your money come to you in a yearly form for the rest of your life. You can never outlive. Sounds like scary. Yeah. Or you can leave it where it is. And hope that everything's fine. And maybe have a successful retirement. So I don't like maybe when we're talking about financial planning we need. Sure, t that's right. And we need to make sure that we have our money in the right place for the right time for life. And again, I like people putting money into 4._0._1._K. I don't like them depending on the 4._0._1._K for their retirement income. Okay. Yeah. That makes sense you very important that people know the differences, wait around. We're gonna talk about how the supreme court just announced a decision that is not going to be good for us. Oh, no pension plans are IRA's are inherited IRA's. They are not going to be protected from bankruptcy or creditors. We're gonna talk about that later on the show. And how important it is. Then to make sure that you have the right plan in place to counteract that or the right trust in place. Absolutely something called a standalone retirement trust. Maybe maybe in order here for most everyone out there who has a retirement plan. They don't want anything bad things to happen to it when they pass it on. Okay. Well, yes, definitely sounds like someone need to be paying so exciting show lined up here. I mean, I can't believe how fast shows already moving. But what I wanna do is for everybody out there who's listening. If you have any of these plans, we're talking about if you have a 4._0._1._K a four three b or TSP number one. I want you to get a copy of our two thousand seventeen 4._0._1._K for three B R TSP survival guide the whole series is over thirty pages long. Basically shows you mistakes people make and shows you how you can not make those mistakes if you do the right thing. Oh, wow. Would you like to if there was a solution? Would you like to learn about the solution before after he made the mistake of before all day long? But what if you made a mistake and is still? The way you could counteract that mistake if you've learned about it right now. Hey, you know, obviously. Copy that. So let me let me do this for the next twenty five callers who call in today right now when when Thomas gives the number out, we're going to create a one page financial review. Now this review indicate if you're in need of a full blown financial planner, not we're also going to give you copies investment returns defined benefit verse defined contribution plan workbook from the Boston College center for retirement research there, but what we'll do is is we're gonna help you take that mystery out of the financial planning process by mapping out for you. Where you are right now in your financial planning process, if let's look at where you are for your retirement plan. Let's look at where you are for how much income you're going to get for the rest of your life. And also make sure you're never going to outlive that income that's right, number one. Boy, people have as outliving their money. Now, we can counteract that we can get rid of that we can eliminate that worry whilst going to run a fee report. Now, this report is very very important because it helps you untangle what working with your current planner or planned or adviser is really costing you. We can show you buy. How you could simply protect your retirement investments by using the right, tools and strategies, and if you do that, you could experienced dramatic growth potential in other words, let's look at where you are. Now, let's make sure that you're not doing the wrong thing. What's isolate in places where you may be overpaying fees and not realize it? Yeah. Let's also look at your standard deviation. How much risk you're taking? I how much return you're getting. Well, let's see if the sacrifice between that is to garbage. And as we get close to that financial red zone ten years out of retirement, fifty two or older, basically, if you're fifty two or older need to look at your standard deviation, you may be taking way too much risk to get way too. It'll return, so let's let's eliminate or tame down some of that risk to make sure that our retirement does not go away. Right. When we need it the most. Okay. We're also going to do a tax analysis could reveal to you how you could possibly this is a novel concept, reduce your taxes. Always fun to do legally, by the way, absolutely now, the most important part of this whole process, so as we'll custom design an income plan for you that utilizes strategies and techniques which could turbocharger retirement income and take the Warri out of living in retirement in short will help you take the guesswork out of the financial planning process for the next twenty callers, that's a comprehensive financial review there. We're going to give away at no obligation nine hundred nine dollar value. I'm also gonna give you a copy of a brand new report financial and political curves making money in the new world. This report by me and Rick Santelli. If you've ever seen CNBC Rick Santelli is on their excellent report, everyone needs their hand on this as well..

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