Cherry Hill, Warren Buffett, Neil discussed on Ric Edelman



Accounts investment accounts, retirement accounts, IRAs, etc. Add it all up. What's it worth? Probably a couple of mill I get and how much money do you and your wife spend on a monthly basis? Probably three thousand bucks. Maybe. Total all in all expenses. Yeah. Probably about three grand. Then I would agree with you based on two million dollars in savings and investments and only spending thirty six grand a year. And we haven't even talked about social security. Yeah. I would agree with you. You're in fine economic shape, which means you don't need to be taking a lot of investment risk. And therefore, I don't think you need to be getting terribly exotic with your investment strategy. I mean, although it's possible that you might get a higher return from a treasury strip or a inflation protected bond relative. So a Bank CD, I don't know if the difference is all that worthwhile relative to the complexity the securities and the lack of certainty you have about them and understanding of how they work compared to ordinary Bank, CDs, the difference in the yields is not going to be all that significant. And I don't think material enough for you to bother doing something different. Right. I was just wondering if it would have any effect. I don't think it's going to be material enough. This is based on a thirty second conversation. I'm having with you. If we delved deeper, I could certainly argue that all of the voices, you've mentioned are paying very low rates of interest. In today's economy, as you know, and there are other strategies that are worth considering that can dramatically improve the potential for higher rates of return is it necessary in your case, not really not road of the amount of money. You've got an the amount of income you need. It's not really necessary is perhaps desirable. Well, maybe that's up to you. So I could argue that you should meet with one of my colleagues. We have an office in cherry hill, not far from you. And mount laurel where we could go into all of this detail and show you the alternatives that are available to you. But that's entirely up to you. If you just kept doing what you're doing financially speaking, I think you and your wife would be fine. So in cherry hill, New Jersey, right? Yes. It is. And if you like I'll put you on hold and get your phone number. And we'll connect you with our colleagues and cherry hill and go from there. Okay. That'd be fine. All right. Neil. I really appreciate your phone call. Thank you. So very much. You can do what Neil dead and call triple eight plan RIC. And it's really important that you put your investment strategy into proper context, why bother adding complexity to your life tax complication to your life getting into securities. You not really familiar with her accustomed to win the material differences in results are really not going to be there. When in fact, you might need to be addressing a totally different question. Instead, which is am I going to be able to sustain my current lifestyle for as long as I my spouse may live that's the more important fundamental question. And you wanna make sure you have that answer nail down. I thanks so much for your phone call, you know, I'm really glad to see folks. So intently focused on retirement and engaging in planning will you have enough money. That's really the key question, isn't it? I mean, if you were Bill Gates, I don't think you'd care very much Warren Buffett. I don't think he really. He needs his social security check. Right. So for them. It's not a big deal. But for you and me, so how do you know, if you're going to have.

Coming up next