Mr. Damon King, Victoria Wood, China discussed on Chappelwood Financial with Victoria Woods
Financial diva. My name is Victoria Wood's in the diva studio here was Mr. Damon king. They call him the king of finance. He's also wealth management specialist right here. At chapel would. Thank you so much for making us the number one financial show. There's so many of them out there. And we appreciate it tremendously. If you're just now joining us, we've been talking about some things, you know, and how some things changed in some things. Stay the same retirement planning has changed. Unbelievably in the last thirty years, even honestly Damon in the last since the financial crisis, but really you'll nineteen eighty s dramatic nine hundred ninety s dramatic, and then, you know, twenty twenty eight was big. So a lot of people really changed the way they invested or maybe improved the way they were investing. Now we operate as everyone knows in a global market. I remember the days on the radio when people would call me and ask me that what do you think about China? Well, I let China why roles. But everything is interconnected. Now the world is flat. If you didn't read the book, I'm sorry, you missed out. But the world is flat. One thing though, that hasn't changed or will ever change in. It is innate in all of us in. It is the fear of running out of money. So coming up, we're gonna reveal nine common ways to go broke in retirement. Maybe we're going to help you avoid that. If we tell you how people go broke, maybe you'll go. Okay. I don't wanna dad rather not do that. Let's do something different man. What are some of the most common ways that people actually go broke? Well, you know to your point earlier you said about the fear of running out of money while the most frequently reported retirement worry, according to a study by the TransAmerica center for retirement studies. It's the worry about outliving savings and retirement across all ages. Fifty one percent of respondents side of this concern and forty one percent of retirees claim the same fear. So, you know, a lot of people think well, you just go broke because he didn't save. Well, that's only one way, but we've got nine others that maybe you're not even thinking about and they're so simple. You're probably doing some of this right now. Number one, you abandon stocks the stock market even with all of its warts and growing out of the wards on their face and stuff like that. It's still the best place that we have found to get long-term growth that can both beat inflation and support an income plan over thirty years of time. So I mean, unless you're ninety five years old, I guess, and you feel like my final exam is just next week. So, you know, then you're never going to really outlive your need for the stock market in some way, because it's just too difficult to turn outpace inflation with a lot of the guaranteed sources of income on the flip side..