Fran Tarkenton Fran Tarkenton, Texas, Rick Dot discussed on The Savage Nation
So the name of this show, again is plain talk. No worries financial our why do we call it that you might notice it. I have a little bit of a Texas accent. Actually, I think the rest of the world has an accent. Not texans. Texans are actually probably the only people that that that speak normally. So I am a Texan by the grace of God. And being a Texan. I am very plain spoken about things. And I believe that that's the way that you should be too many times, I find that people are very confused about the financial world that we're in very confused about the investment world. What I also find is that a lot of advisors, stockbrokers, whatever you wanna call financial people that sometimes they talk over people's heads. They use a lot of technical jargon. They talk about smart, beta and duration and the sharp ratio. And and they throw out an awful lot of. Very very complicated. Financial terms at the average person average lay person doesn't understand. And there's a saying I believe it was Thomas Jefferson, if I'm remember, right and Thomas Jefferson wants said that Americans will always make the right decisions. If they know the facts, unfortunately, too, many people don't know the facts too, many people are are manipulated with promises of high returns. They they watch the financial shows or the financial newspapers, and magazines, and they get persuaded or just out and out manipulated to be excited because of a big bull market that we're currently in. But they disregard or they they forget about the bear market that we experience the meltdown. It's not even a bear market two thousand eight. Meltdown of the stock market. And and and people kind of forget about it in their advisors near stockbrokers want them to forget about it. And we just believe that there's a better way, we believe that if you have a plan in place. That part of the plan has an exit strategy when we have that next crash when we have an that next correction, hopefully, we don't have any more meltdowns like that. But if it happens, we believe it's smart to have an exit strategy. We believe it's smart to have an overall plan on what to do with all of your money. As part of a financial plan and a financial plan when I call it a financial plan. I'm specifically talking about a retirement income plan because that's what I do matter of fact, the credentials behind my name on my business card say r I c p. That stands for retirement income, certified professional, and I believe it. It's very smart to have a plan that will address liquidity making sure you have enough money that you can put your hands on any given day. This plan will address long-term growth growing your money. But I call it growing it with guardrails, and you do not have to take substantial risk to get decent returns. That's that's a myth. That's a Wall Street and myth part of this plan will also I believe it's smart to have some of your money, absolutely guaranteed. You can have some guarantees in your portfolio that will give you some guaranteed rates of growth that will guarantee your principle. I think that's that's just very smart. And then if it's important to you part of your plan might also address legacy. What is the best way to leave money to your children or grandchildren or your favorite charity when we put together a plan for our clients, we address all of those and much more. We're going to talk to our clients about being proactive on their taxes. What is the best way to take their social? Security. We're going to address the probability not probability absoluteness of losing a spouse someday, how that's going to affect your finances, anything and everything that affects retirement income. We're going to talk about and we're going to build a plan together me, and my clients we sit down together, and we build a plan. So they will know what their retirement is going to look like I can't pick up the phone if any of this interest, you even though it's Saturday afternoon. There's young ladies going to answer the phone or as long as she's not on the other line, and she'll set up a time for you to come in and visit with me, and that's all it's going to be you're going to come in and sit down with us. And we're going to ask you some questions. Let you ask me questions going county interview each other and say each other you're going to interview me to find out if I know what I'm talking about. If I'm somebody that you wanna work with. But I'm also going to be interviewing you. Because again, if if I don't believe that you're the right client for our firm. I'm going to tell you that if you say, you know, I'd like to take some of my money and put it in the next Facebook IPO, I'm gonna send you down the street to to one of those big boys at advertise on TV twenty four hours a day while we don't do that. We don't take big risk with our clients money. So we use the stock market. Don't get me wrong. I'm not against the stock market. I very much like the stock market. We just believe that the buy and hold strategy. That's out. There is an antiquated strategy. Now, it's been around since nineteen fifty two basically the, and they call it the modern portfolio theory. I think that that's kind of funny that a strategy that came out of a book in nineteen fifty two. There was called the modern portfolio theory is still referred to that. But we think it's a modern. We think the modern portfolio theory is actually an antique way of doing things. See we have these things called computers. Now, we have these these things call cell phones, we don't have rotary phones anymore, and we have technology that we can use to manage your money and to take the risk out of your portfolio. Take anytime you're in the market you've got some risk. Let me say this correctly, but to greatly reduce your risk by having exit strategies by having strategies that win the market becomes bearish or if we it looks like we're going to have another meltdown that we have an exit plan, and we just think that that's a much smarter way of doing things. We also use the insurance industry will use. And we'll talk about today. What is called a fixed indexed annuity and the word annuity is probably one of the most controversial terms in the investment world. But it's only controversial because the buy and hold mutual fund. People. Don't like the fact that right at sixty billion dollars went into fixed indexed annuities last year. And that sixty billion dollars could have gone into their buying hold mutual funds. And so they tend to lump all annuities together, and they'll say annuities are bad. Well, that's like saying restaurants, your bad annuities are excellent for some people at some point in her life. Not all annuities are created equal some of them have high fees. Some of them are very very confusing. Some of them do not perform, well, I've been in this industry, by the way for over twenty seven years in a financial services industry, and I know. I wouldn't say I know everything about fixed index to nudity or annuities, but I probably know ninety percent. And I'm also a one hundred percent independent which means that I can look at every annuity in the country. And if there's one that will be better for you than another one. Then that's one that I'll talk to you about I don't have a one-size-fits-all. I don't have a cookie cutter plan. I'm not married to any particular insurance company. I do what's right for my client in all cases. So if if it's appropriate to use a fixed indexed annuity in your portfolio in your retirement income plan, then we we will use the one that gets you the most income if any of this is making sense to you you'd like to come investigate some of this stuff you'd like to just come visit and talk come by and see us pick up phone first of all call us one eight hundred twenty five retire. The local number is nine seven. One two nine nine six seven eight five eight or look up it retire with Rick, and our I c k not h. I've noticed that somebody's cana- copied me out there. But it's R I C K retire with Rick dot com and set up a time to come in and visit over the next couple of weeks. Also, if you're thinking that you might just might wanna come check us out a little bit December the fourteenth, we're going to have a little bit of open house. We're going to have a little Christmas get together from ten o'clock in the morning till four o'clock in after now if you just want drop by and have a snack with us and and visit with us. I do some business with a an old hall of fame NFL quarterback by the name of Fran tarkenton Fran tarkenton if you're in a Dallas area and remember many many years ago that Roger Staubach and Fran tarkenton you used to to have some some really good battles together. Well, I've known Fran for many many years. I've done some business with him and become good friends. And and we're going to have a Skype EM in on December the fourteenth. So if you want to come visit with with Fran asking him about some football stuff or just anything you want to talk to he's quite a boy, and we're going to have him Skype, Dan at our hope in house. So if you'd like to come by and visit or do you want to set up a time to come see me, call one eight hundred twenty five retire, and let's get together. We want to talk about what's going on with the stock market today. It's been all over the place. In two thousand eighteen just the other day. The market was down about a thousand points over a two week period. And in one day all by itself it jumped back up six hundred points in one day. The Dow did it's just a again all over the place, and we call that volatility some of the stock market investments that I use when I build one of these retirement income plans are referred to as low volatility investment. So they're low volatility equity investment bonds. And if if you can manage that volatility than a tinge to make your money much, much safer. There is also what's called a volatility index. And so some of the funds that we use they they monitor this volatility, and they manage these funds based on on keeping the Bala Tila ty- of these funds down, and they picked certain equities funds that that historically tend to have much much lower volatility and overall that will keep your your portfolio much much safer as a rule so come in and check us out, and let me show you some of these funds and show you how they work. So we want to talk a little bit about that today. I wanna talk about emotions. I wanna talk about pensions. We're going to talk about what's called in service withdrawal, sometimes called in service. Distributions we're going to talk about required. Minimum distributions today as well. So first of all, let's take a look at a couple of headlines that are out there. One of the headlines that I just recently read about which talking about are we going to have another bull market, or where are we here's one that was in marketwatch on November, the twenty ninth and the headline said did feds as in the fed Powell light a fuse for a year and stock market rally? So because the Powell announced that we probably have less interest rate increases that made the market jump up over six hundred points. The Dow jumped over six hundred points in one day, but the same day you see other headlines that are doom and gloom that you better pull your money out of the market. How do you know what to do? You know? It's it's a it's it's almost like as many cars. There's many stars in the skies. There are opinions about what the stock market is going to do. And what I would tell you is that no one has a crystal ball that works. There's a whole bunch of people out there that profess to to be able to tell you what to stock market is going to do. But if you take a look at what a lot of those people are saying today, and then you go back and you look at a track record on. Well, were they correct about two thousand and eight or were they correct about the dot com. Bubble and you'll find most of them were not correct..