CPA, Nine Four Percent, Twenty Five Years discussed on The Kristen Hagopian Show

Automatic TRANSCRIPT

Welcome back to the rules so we're talking about the conversations they you need to be having with your financial advisory team and i emphasize the team because not one person can know everything uh i happen to be the quarterback of those kinds of teams i don't do financial planning anymore i don't do securities anymore i still do some corporate consulting and that's how i got involved in this particular gig but as a quarterback we talk about all of these different things and in the room there is a tax lawyer who is addressing the needs of a corporation and a defined benefit plan there's there's also the cpa who's talking about it from attacks wise perspective and it's interesting because you know we think right off the bat that the lawyer knows everything in the cpa knows everything what i'm finding in this particular meeting is the lawyer in his respect is brilliant and knows everything about what what he needs to know about and the cpa knows everything that he needs to know about but each of them don't know a lot of the stuff that the other one knows if you follow what i'm saying same thing is true i have to cfp is one with an insurance background the other with us securities an investment background that's part of that team both brilliant and both have different disciplines and so we're going through this conversation of now we've graduated to allocation as i said before the break this client wants no risk well the securities person probably would want them have waymo or stock and the insurance person would probably want them to have all of their money and fixed investments but in reality i pulled out burden mouth kills book actually a page from burton malki els book that i took a snapshot of and i explain how an investment in the stock market over a long time periods twenty five years was a seven point nine four percent worst case.

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