And we'll talk about the latest wrinkle and President Biden's proposed tax hikes, But first if you're nearing retirement, I'm sure you're liking this bull market, But you're also probably asking how much longer can it last a piece and market Watch warns. The future returns are likely to be mediocre. If that's true, Brian, How do we make sure that those mediocre returns? Don't torpedo our retirement income? Yeah, that's true. I mean, you look back at the last 10 years and you go. Wow, this thing did 10 12% and I'm telling clients. Let's just try to cut that in. We haven't had a recession since then, and technically since they started recording recessions better reserve, I think 1913 when they started recording recessions. There's been one every seven years, so we're a little overdue. And so it's not that scary thought. I know it is. There's always the booms. And then there's the bus. Right? And so we've got a boom right now. Real estate is on fire as you know, right, And so is the stock market is, um, is on fire right now. I keep waiting for it to go down, isn't it stayed above 23,000 for Long time, right? Yeah. So you've got issues, though, with thinking that it's gonna be like this forever, right? I'm just gonna get 15% returns or 12% returns every year. They're coming in here with under half a million dollars thinking I got plenty of money. They don't have any pensions. They're still security is not big and it's hard for me to tell them, but I don't think you have enough, right? And so what do you do about that? Well, you need to work longer Take more risk in the market. What other thing can you do? There's tax planning things you can do. But you can't really. And if the folks live well below their means, then it can happen, right? What about of time? $500,000 sounded like a ton of money. Did it just it just it doesn't goes pages. It's not there selling boats. You know, you can go to Smith Mountain Lake. You'll see boats running around there for 150. Oh, yeah. $5000 basket boats 70 80 $10,100. Yeah. So those wake surf boats that are flying around. There are It's a house, right? My first houses 90,000, right. Nicer bedroom. Too bad. Yeah, you know, so it's been half a million dollars. Sounds like a lot but over. I mean, if you're going to live to be 85, you can stretch that amount of money. It's hard. The bath is really a struggle for folks because they go well. If I took 4% of 20,000, I got social security between my wife and myself. As you know, there's 30,000. So I got I got $50,000. I'm good. You got to pay taxes on that. And that's assuming that you can take 4%. What if the mark Declines for seven years. Your account values will go down. There's something called sequence of returns, and this article isn't really talking about that. But we talk about sequence in terms when you are, sir. Let's say you retired in two years. Everything was still cooking with gas like it is now and then also the market just tanks and you are taking out income. And there's a minus 10 on minus 20 another minus 15 3 years in around, you're taking income out. You retired. Remember your fishing every day You've done it now made the move. Yeah, Yeah, You're not going back. Yeah, So you're taking an income when it's dropping in value. It's called secrets returns. They're actually teaching and financial planning colleges all over the country now, because it's a real problem. It's like, okay, the math. You start looking at and you go. Wow, You never recover from it. And it's not a fear mongering thing. We can show you 18 different ways to show you. You can have a really good rate of return. Still get 8% rate of return, But you ran out of money. Mhm, who doesn't want 89% rate of return, right? But if the market went up the same year, same time, right? You retired. And you still got that 8% over the 20 years. You were so successful. Yeah, but it's just all timing. Do you know if it's going to be a bull market or bear market? You retire? Well, no, I mean, nobody knows right. And then that's the point. I think his articles like well, are we coming up on that and all these people are seeing their account balances go up. I'm finally there. I can finally retire. That's what happened in 2000 and eight A lot of people had to go back to work. I hate to feel pessimistic, but I keep pointing for the stock market. Just crash. I really do. I know that sounds terrible, but I keep waiting for it to go down. You don't wish it. Okay, thanks. The Fed says all these higher prices were paying are to be expected because the economy is returning to normal aliens. Economist Mohamed El Aryan tell CNBC he's concerned that The Fed is heading into uncharted territory. What worries me is the inflation side. What I'm seeing suggest is not simply transitory, and the last thing we need is the Fed to slam on the brakes further down the road. We have no historical experience where the Fed has been late, and we haven't ended up in a recession. That's what worries me. I don't think inflation is transitory. And I worry about the Fed being late in responding. So if inflation is not transitory, that means it's here to stay. That's that's a long time. Problem. Yeah, I mean, they got to stop printing money out of thin air and given it the people that aren't working. I mean, I'm sorry to be so bold, but we're just printed out and given it everywhere, and it's like the Fed has to stop. The United States government has to stop. Inflation is here right now. Not like. Oh, you know, I think we're gonna have an inflation No, go buy a house or trying to build a house. We're in the middle of we're probably next month or you're going to get bids on our new office building. And I'm talking to some contractors and like you better sit down. When you get these bids, it's not us. Our labor rates are about the same materials are through the roof. Yep. And so that's inflation and it's here. And so you've got the same wages. Did you get a big bonus in the last year or two? No. No but inflation guy, right? Yeah, exactly. So I think what he's saying is that the Fed doesn't have to. Now. What does that mean to you? You have to invest your money We see so many times. Folks that come in with we got lazy money just sitting around Not doing anything. 200 years. 305 100..