Mr. Damon King, Baker, Victoria Wood discussed on Chappelwood Financial with Victoria Woods

Automatic TRANSCRIPT

EDU slash cyber event. UM UC certified to operate in Virginia by chef. Welcome back to it's all about the money. Honey, I'm your host. They call me the financial diva Victoria Wood's here chief investment advisor chapel with financial services. And joining me as always as Mr. Damon king. He is a CFP professional and wealth management specialists at chapel would as well. Now, you know, we have been talking about. You know, the loss of a job, but I really liked to switch gears just a little bit for a moment Damon and talk a little football because everybody that knows me knows. I'm a big sports fan this past weekend. We all know that it was Super Bowl weekend. What one hundred plus million people around. I don't there's tons of millions possibly around the world billion. I don't know if there is a lot of people watching and it was played last weekend. And I love to see a guy liked to watch the human stories as well. We'll Damon he Poos those. Well, it gives you a lot of insight because like all the commentators were saying thirty to thirty four thirty to twenty four high scoring game, blah, blah, blah. However, it Don like all day y'all have been talking about defense defense defense is going to be a defensive game you focused on the defense and the quarterbacks the defense and the quarterbacks that's all you did all day everybody. And yet when it comes down to predicting the score at the end of the day. Before the game starts and y'all say thirty to thirty one thirty to twenty four. I just thought I don't think that after what y'all told me like y'all are all wrong. And guess what? Ron. That's what happens when the Rams get away from what got them there. Yes. I didn't get the ball to Todd Gurley was on my fantasy team. All your lawn was great. And then they didn't give him the boom. But I thought it was very comical. I really did. I thought it was a surprise because they acted like it was such a big surprise. Oh my gosh. After the game was such a low scoring game. But I kind of thought it was more like karma decisions payback for being so so unfair to my saints. Oh, yeah. They no, no. Payback is a bugger Thomas. What I'm telling you. That was so wrong. We're talking about that till the day we die that was just wrong. So that means though, what did we have to rely on for the Super Bowl? What is the hype all the talk about? And what is it the commerce? Yeah. Super Bowl commercials predicting who's going to get the number one commercial who's gonna love the favorite. We all love the Budweiser Clydesdale commercials. We did get one the clydesdales kicking the ball on my gosh in the snow. The one with the you know, the dog, and I mean, come on. We all love those. However, let's talk about the entertainment factor wasn't a little bit lack on that as well. I don't know about you. But I thought it fell a little flat, except, of course, my favorite commercial. And it was of the boys playing, but. Yeah, no. I thought one hundred years of the NFL. And I gotta tell you. I could watch that over and over again because you know, my favorite part of the whole it was great all the way through. But my favorite part was Baker sitting there next to Tom Tom's just getting antsy. He wants to get up and play and Baker says something to you. I says something like you think you can still do that old man or something like that. And then he hands them awful his severe here. Hold hold. These juniors. Super Bowl rings junior. Let me see what I look on. Baker's vases is. Priceless because all of those Super Bowl rings. But you know, you may think though that and if you didn't see it. I mean, they're jumping over tables during that, what do you call the three point says? Oh, yeah. Yeah. Yeah. But like, my momma always said, it's true boys will be boys. I don't care if they're grown men. Give him an opportunity, and they're gonna be boys. Now, you may think some brilliant advertiser came up with this this ad. No, no, no, no, no. You would be wrong because truly if you've been in the presence of the likes of let's say Heisman winner. Steve Owens, Ed foster, Steve Zabel, John Carroll and put the cherry on top and throw in a little Barry Switzer. Well, I can tell you. That's exactly what happens. I have been there. They have cleared a room. Get out of the way, these are grown grown man, pushing tables pushing chairs everybody knew what was coming. And here, they go, you know, it was just I have seen it. It was just like that Super Bowl commercial. And I don't think it's ever going to change. But there's another lesson to be learned here. Not just boys will be boys but Super Bowl commercials. What can we learn diamond about Super Bowl commercials over the years? Well, it's called inflation. There's a lesson of inflation is Super Bowl commercials. Think about this. And we're gonna talk about how think about how this affects your retirement account as well. But in two thousand and two I thirty second ad cost. An average of two point three million. Yeah, we got some expensive thirty seconds. Now in in two thousand nineteen that same thirty seconds, which we thought two point three men was just outrageous. That thirty seconds of a commercial cost you five point two five five million dollars. These are real dollars. You do realize is one hundred and twenty eight percent increase from two thousand and two to two thousand two nineteen count seventeen years. Oh my gosh. Regular inflation. Okay. Now, we're all going to be retired for seventeen years. So put please sect exactly thirty so regular inflation won't be that high and your retirement plan. You do need to plan on a minimum of three percent. So when we do projections for clients and say, you know, you've got including inflation when you're calculating how long is this money going to last me because what is the number one fear of every single retiree running out of money. You could ask I don't care if you've got twenty million one hundred million it's all relative, and every single person is fearful of the same thing when they retire, and that's running out of money. So let's say you have five hundred thousand now let's say seventeen years past.

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