Three Million Dollar discussed on The Ray Lucia Show

Automatic TRANSCRIPT

So so once we got through the goals thing and in particular longterm healthcare they chose to self insure i probably would not have recommended that but it's not my money it's their money his mother is ninety seven in a facility just entered hospice his dad died at one hundred and two long jetty in the family history if they weren't as wealthy as they are they definitely would be candidates for long term care policies are some long term care solution does it bother me that with a two or three million dollar nest egg and a great job and social security and pension both have colas that they're going to self insure for healthcare i could make a strong case from an investment standpoint that's a different story then we get into the risk tolerance questions all right now i have a philosophy my philosophy is one should never take on more risk than they need to that is necessary or that they want this couple is very very risk averse very risk averse they don't like losing money most of their moneys in cash is in cds it's in money markets it sitting in the bank however they do have some retirement portfolios with stock in it and they've done well obviously in the last few years but they're nervous so i was able to communicate with them on a level that would make the stock accounts in their portfolio basically at least statistically risk free if they did two things one diversify if they have ample zion seeing their portfolio is still haven't seen it and it's not my job the financial planners gonna have to deal with this but one thing we know is a diversified portfolio can withstand big market downturns in the market always comes back over the second thing time to reach a new record high now in order for us to try to figure out what that time horizon is we have to go back and look at what we've learned from people such as burton malki l he's the genius that wrote a random walk down wall street and i took a picture of his book this morning because i've quoted from this before want to make sure that.

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