BOB, Mister Chris discussed on No Payne, No Gain

Automatic TRANSCRIPT

And now with the very very special guest on the show Bob's son my brother financial visor at paying capital management Mister Chris pain in the studio all my god how are Chris yeah right I'm doing great I love the fact that we're video in this now because now we can play a little game of which pain has the best hair while there you go will Gadd has the best hair if you're listening on the radio you have to go to people's dot com to see it for real well this is our spotlight segment every week what we do is we take a real financial plan we dissected and we talk about how we help there are certain client get on a path to financial freedom Chris you worked on the case recently when you break it down for us and just tell us how you help this couple really picks up their financial situation get on the right path yeah absolutely right you know really nice couple from down in Florida came to us they came to us with you know just the normal concerns like you know is our portfolio in a good place for us in our in our later years you know we're getting older you know where do you see us today you know are we right on track and the answer was really simple you know from a projection standpoint you know they never run out of money you know everything looks good on the surface but here's the problem okay so yeah what is problematic I was in a stable watch so what's the issue here well the issue is at almost seventy years old they were taking the same amount of risk right that you and I would take wow so how much money they have a risk in the markets because we see all the time it's like you're ready retired retired but you have again not ever someone may their twenties and thirty sacks in the market exactly so you know the reality is they should have been more like forty percent risk they were close to the seventy percent at risk out we will miss you build another recession like two thousand eight two thousand nine Chris will come the climb with that portfolio experience yeah exactly I'm not quite fully would probably would drop close to thirty percent wow and you know in dollars that probably would have been something in the ballpark close to like a million dollars well how did people react I see a lot of a lot of you today yeah we were very brave now we've been in a bull market for ten almost eleven years and like what I want to get out with something that just goes up all the time and you know some help the memories of these fifty percent decline to starting to see Chris I mean how do you feel about knowing that they could lose a million dollars in any one year I'll tell you what it was really scary when I showed him what it looked like in their projections they almost had a heart attack wow what let me that's the thing too it's a good point is you don't know the risk in your portfolio until it's too late you're not gonna know when the market's going up but when you get that down turn in the market all of a sudden the support fully go down by a huge value like a million dollars it's like up too late now the nice thing is we have tools we can tell you with a lot of accuracy what's your portfolio really gonna do in a down market Netscape young and the crazy thing was when they came in I said yeah did you have any idea that you are taking this much risk and the answer absolutely shocked me they said yes we know exactly how much worse were taking we just had no idea about the impact I said well you know what about your adviser did your adviser you to bring this to your attention and they said well kind of but you know they never really hard on it but we really like our adviser I said well that's great I said I really like my doctor but you know if my doctor told me that I had cancer and said don't worry about it I far that person immediately despite how much I like them yeah I think that happens a lot there's a there are very few true financial planners out there but there's a lot of investment products salesman and that's what happens you end up with a collective investments in in a bull market everybody thinks everything's fine because you know like Ryan says almost every week you don't know who's swimming naked until the tide goes out you know the best part about this whole thing is that we just make a couple of adjustments in the portfolio you know not only they can save money on taxes but they're also increasing on income they're getting in as I always say you get a better outcome with more income yes income is way more I will be ups and downs of the market another financial masterpieces Bob likes to say anything yourself right now I need to talk to the pain boys were on the phone right now we have a couple slots left the active two slots left if you give us a call or text right now myself Chris Payne Bob Payne run for your total financial master plan well you have no obligation or cost it's a full holistic review where we look at everything all you need to do is bring those statements and bring them from December bring him in the office we're gonna take all the data from all those different statements we're gonna build for you your own personalized financial portal we get a bird's eye view of your entire financial life and then we can start looking all the critical components just like there's anything unnecessary fees to an adviser that's not giving you advice we're gonna say well hidden cost is in your portfolio she had a reduced cost us more money in your pocket for retirement we're gonna look at diversification you don't know the risk in your portfolio until it's too late you need to know exactly the risk is right now we're gonna show exactly what pitfalls unseen risk you have in your portfolio to protect yourself against the next downturn in the market and lastly we're gonna look at income in taxes income is so much more reliable the ups and downs of the market how can we increase or optimize the income on your portfolio and optimize your portfolio for taxes so is more money in your pocket less money in the government's pocket they were gonna tie it all together into our famous total financial master plan and determine the.

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