18 Burst results for "Dr Wade"
Democratizing Access to Hospital-Grade Disinfection with Eli Harris, President of R-Zero
"Talk to us a little bit about our zero. What is it that you guys are doing. how are you adding value to the healthcare ecosystem. Yes so it was almost sixteen months ago. Now with the academic. I started a a ticket hold. I got in touch with the two mentors in mind. Both entrepreneurs who i've known for about a decade and the three of us started talking about how there's certain events throughout history that just create everlasting societal and infrastructural changes in a dork way. We kinda like in what was happening of the pandemic to nine eleven. How after nine eleven. We have the department of homeland security. You have. tsa fourteen thousand agents. You still can't take a water bottle of where shoes through the airport. You go to a ballgame. You walk through a metal detector. These are all new standards that were created and adopted post nine eleven in some of these psychological star tissue after that event accelerated decrease adoption of those standards. But we never arrest fundamentally the world took on a new posture around security in all shared spaces at our thesis. Fear was at this event of the pandemic was going to broaden that word security to biosecurity to biosafety and in the standards that all organizations are gonna fold as they regard a human health in the safety of their staff their patrons of their communities at large so what we did. Kind of unpacking the disinfection industry. And we've learned quickly that this is a massive industry. Hundreds of billions of dollars market cap governed by these goliath players. Ecolab clorox se. johnson diversey. All of these companies are extremely old. Some over a hundred years old and more or less all pushing commodity chemicals and our response to the pandemic was to go around and host buildings down the chemicals. And that's what we did in. This industry has not evolved with the technology that is becoming become commonplace in almost every other industry. It's extremely antiquated in what we're doing with chemicals. I mean there's there's a lot of limitations there one is. They're not always that effective. There's a lot of human error and how they're applied there's a massive labor cost a massive op ex chemical costs at. It's horrible for the environment. So we got in touch with. Dr richard wade and dr wade actually ran cal osha for fifteen years. He taught at harvard oxford. Uc irvine. We like to call him. The michael jordan's disinfection. He's he's forgotten more about this industry than most of us will ever learn. And he's quite special but he let us on a study to really understand. What are the best tools that exist in infection prevention today. And why have we not democratized access to those
"dr wade" Discussed on The Money Advantage Podcast
"Your financial life What i find interesting is the potential for greater returns is is there. It's been proven that it's there the potential But as warren buffett has been quoted. I don't even know if this people quote him saying this all the time. I don't know if he actually said a lot of times. Quotes aren't actually said by the person but just attributed he was asking a why do people if they are invested in the stock market. Why don't they get the kind of returns at you get with berkshire hathaway and he says was because people really don't wanna get rich slowly and that is what happens with With life insurance that you actually get rich slowly and If you're a person that has the personality of of Really a risk taker taker. Then yeah you're not gonna necessarily see the value of though we could show you how you could actually have both values in your life taking a risk in the stock market and doing the whole life insurance. And and if you go back to dr wade foul Podcast you're gonna see how dr wade has actually mathematically proven this going forward so yeah really comes down to your viewpoint about stocks and other investments. But we say that the whole life is not invest macos. It's without rip risk. That's awesome. And i think it's very interesting again. You talked about getting rich quickly. Getting rich slowly with interesting. Is that if you are looking to just accelerate wealth as quickly as possible. Sometimes you're thinking more about the short term rather than the long term and ultimately the people who love infinite banking are the people who are willing to say. I wanna build the fundamentals. I want to do right. And i want long-term guarantees and i want steady growth and want something i can depend on. Now if that's not you infinite banking's probably not for you but if you are the person who is willing to commit to the long game and doing something that lasts not just something that might have a spike today. Might make you a millionaire tomorrow. But you could lose all the money the next day. You're really looking for something with steady.
"dr wade" Discussed on KOA 850 AM
"Win in the long run with these. Don't wait. Actually, we don't and especially the older stories if you ever read that Grimm's fairy tales and some of the local legends Humans come off the short end of it. Ah, lot. Those those stories were sanitized later on, I guess in our generation when when we got the nicer fairy tales, but The older monster stories. The monster's often one Or if we won against them, it was at a great cost, So they're really truly terrifying stories because there was no guarantee that the good guys they're gonna win in the end. And if you look a lot of the zombie stories, especially Romero stories, they sell them him and well, for the good guys. What do you think of Stephen King's writings? Big fan of Stephen King's writing. I met Steve a few times and there was Sun Joe pretty well, and he's a great writer to, um and in fact, his Stevens novel, Salem's Lot is one of my all time favorite novel. It's one of the The books have inspired me to write. My first novel goes to her blues. Uh, he's a superb writer, and he's a very good guy. All right, let's go to the calls again. We go to Craigie in Spokane, Washington, west of the Rockies. Good morning, Pretty Been lying. How you doing? Good. Good to have you with us. All right. I remember back in the day. I believe it was in the eighties. 60 minutes one Sunday are their program was about a tobacco plantation, something someplace in the Caribbean. Countries. Uh, they used sometimes something that they made some different plants It would give to the local Villagers, mostly the man. I would put them and put them in the zombie type state and they would work their plantation Forman and they control them that way, And these, these people would go home and everything to their families at night. And come back the next day, and they give him or the stuff and they just control them that way. Actually that that Z quite accurate. Dr. Wade Davis, an ethno botanist, went down to Haiti for four decades ago. And cracked the formula because for years for many, many years, people thought that that was some sort of a magical potion they were using to control people and turn them into essentially zombie slave labor. But what way Davis figured out was that it was a bunch of chemicals, including something from a puffer fish, some chemicals from the skin of a tree frog and some other natural ingredients. That put people in a very suggestive state and as they didn't protest and they would keep working and working. Um, and he proved that it exists that that this this chemical compound exists. And that's the basis of the voodoo version of zombies. So, yes, you are. You're quite correct about that. We have Frank in Cocoa Beach, Florida now used to the Rockies. Hi, Frank ahead there. How you doing? All right, Frank. Don't have a question. Just information for John there that George Clooney zombie movie. It was called from dusk till dawn. Yeah, That was that was, I think his second or third horror film on that was a great one. That was Quentin Tarantino was his co star in that and It was. It was a great horror film. It also sound like it was some high ex first film. Really What we turned to horror high was actually the first horror film Clinton was in. That was 1987 on, uh, he was a young man before he even did, Uh, TV shows so 1919 87 young young George Clooney and a Ultra low budget horror film. He's moving back with his wife and then two twins to Los Angeles out of London. He's coming back. I mean, back to the U. S. A bunk like George When you wrote the book. Bad mood moon rising. What was the theme of that one? Well, that was the third book in My My Pine Deep trilogy was serious novel set in a small town. In rural Pennsylvania, based on a real town called called New Hope. I fictionalized in the plane deep, but it was about a horror festival that was going on in town, and you know thousands of tourists coming in a lot of celebrities coming in. And vampires were using that Aziz kind of ah, way of disguising the fact that they were building their own army to attack the living. It was fun with that. That book is I I gotta go. I got some of my friends from the actual horror world to let me write them into the book as a celebrity. So James Gunn, who went on to direct guardians of the galaxy was one of the characters in there. Tom Savini, one of the greatest makeup experts, and you do did the makeup for the living dead films. And a few other folks actually let me write them into the book. And it's a lot of fun for readers Toe discover some some real horror celebrities in in a horror novel. What has been for you, Jonathan The scariest thing you've written about? Oh, boy, the skin The thing that absolutely scared the Jesus out of me while I was writing. It even gave me some nightmares. When I was running dead of night. The book that George Merritt says is the official prequel. Now tonight, the living dead Had a subplot in there about the fact that zombies when something was turning to the zombie, even though the body was going out and doing what his army did, you know, driven by the parasites, the consciousness of the person who had been that, you know, been that person before they died. Was still there. They were attached all five senses, but they could not control they could only experience On Guy wrote that because while he was reading that book, my My father.
"dr wade" Discussed on The Money Advantage Podcast
"From an educational viewpoint like Dr Wade Foul is the solution is that you have a non correlated asset whatever your investment is that you're taking returns on, you have a non correlated asset and that non correlated asset is needs to be guaranteed asset. So at asset is there so that instead of pulling from your portfolio in the years that are down. That, you can go to the non correlated asset. and. You can take the money from there instead of from your investment account that is down so that it doesn't have to work. At work as much to recover which. We've proven to you. I hope this these two examples that. It's harder for to recover after a law a year that you loss. And that's obvious to our listeners but it's even more difficult to recover from a year after you lost if you're taking money from it because it increases. The negative effects of the down balance. has very well said. Yes. So the next chart that will show you. is a chart that is marrying the exact same early negative losses. The exact same early negative losses So, this would be a case where. This particular person had negative losses and after that first year ago, they said, let's not take any annual withdrawals out of here. So we're GONNA let. This particular a portfolio recover it lost ten point four percent that year. So we're not gonNA take any money out of the portfolio. Now I know order listeners are thinking well, I need money to live on. And we're saying that's true but we won't take it out of this investment portfolio. We would have prepared for this in advance and we would have a non correlated asset somewhere that you can actually pull money off of that instead of the investment portfolio, and in this case, because we had three years of negative returns, we would not take any money out for those three years. So again, this is showing the same order of returns as the first example ended with only seventy thousand. So this is the negative situation that ended with lease. The least amount of money we left the order of returns, the same with your losses heaviest at the beginning, which were the actual order of the returns over the span of years, and then what happened is every year there was a loss, the consecutive the following year we took no annual withdrawal. So it's kind of shifted like this. This year had a negative loss we took no. Withdraw from the investment portfolio that year this year had a loss no withdrawal from the investment portfolio, and again, then Bruce's comes back to the question of well I need the money to live. Where is this coming from were saying in advance we've built up this portfolio or this side account or this non correlated asset, which is something that is not fluctuating the same way as the stock market is that I can get my income from instead. which is a buffer asset. This is something to buffer the negative impact of sequence of returns, risk and buffer negative the years of losses, and so I think what's profound here is that just by saying, well, I didn't take money out in every year following a loss. Now, my ending balance is tremendously higher to forty nine. We had. One hundred seventy five thousand dollars more than. You had before which you could say I'm taking out less money but I'm only taking out a out now for inflation but twenty forty. Eighty thousand eighty thousand. So by taking out by not taking money out in just for years, approximately eighty four thousand let's bump that up a little bit for the cost of. Living Adjustment Maybe we could say closer to one hundred thousand. One hundred seventy five thousand more dollars. In the portfolio and that's the power of having a backstop or a place to turn to get your income from. That's not your investment portfolio. And so to kind of. Pull this together with our previous podcast with Dr Wade. You know the non correlated asset. We can joke, say it can be cash sitting around your house. We could be in the mattress in a sock drawer wherever and you just pull money out of their to live on or it could.
"dr wade" Discussed on KDWN 720AM
"About nothing today, folks, Let's move it. I don't like a Joe Biden moment there from a how do you feel about the current direction? Your retirement plan folks is three questions. I want to ask you gonna ask him then we'll talk about it. But do you ever worry if you have enough income to maintain Your standard of living in retirement and rounding out number three if there was a way to eliminate this worry forever. Would you want to hear about it? And if not For the channel. That's exciting, Chuck. I'm sure people will. I'm sure Joe like everyone a jeopardy you might be good quick. I just came out of my basement asked questions back to the basement. A good quote I've got. I've got a couple things here. I want to go. But through that the six planks to retirement plan that we're talking about their six key planks. But I've got a copy of the book, and we had Dr Wade Foul one. Dr. Fowler was like 40 some years old. He's one of the smartest guys I've ever met in the financial world. He's the chief educator at the American College, which teaches all the retirement pointing courses, toe folks like me. He also is the chief instructor. Of the R I C p the retirement income certified professional. That's a big destination about planning for retirement. I happen to be our I, C P and I met Dr fell several times. Get him on the show, probably 10 years ago or so, maybe more that I didn't. I didn't know who he was back then it's like 2008. They said. We've got Dr foul coming on the show today, said Who? How do you spell that? Speaking to that judge so way he joined us on the show from Tokyo, Japan. Who knows what time it was there were talking to him, but he's written a new book, and we had him on the show a few ah months ago. It's called Safety. First retirement planning an integrated approach for Awori Free retirement Now what? What's one? My main planks of this show is having the war e free aspect of the financial world. The retirement being worry free. Very, very important. This book is written by college professor as you can tell. It's 350 pages but is packed with great information and we're gonna have this is a giveaway at the end of the show, Thomas. I want people to just foreshadowing what's going to happen here. We're gonna have we've got 20 these books. And he didn't find him. Unfortunately, but the way he sent me 20 bucks, we're gonna give away its great resource. Genius. How? Chuck, you heard him. You heard? Absolutely I don't you to Jennifer Knothole. Did he think he sounded to you, though? Ah, Nothing wrong with this, by the way, but his voice is very young Sound 45 baby on like 12. To me. Chuck, 45 is 45. Well, dog years area just well, which is it is pretty funny. He's just his voice. But it was, it was isn't enjoyable God who wasn't so I had to listen to hours of this stuff. When.
"dr wade" Discussed on KDWN 720AM
"Go y Oung. No. W was like Why Ung? Almost. You know about nothing today, folks, Let's move It don't look like a Joe Biden moment there from a how do you feel about the current direction? Your retirement plan folks is three questions. I want to ask you gonna ask him Then we'll talk about Emma. Do you ever worry if you have enough income to maintain your standard of living in retirement? And rounding out number three if there was a way to eliminate this worry forever. Would you want to hear about it? And if not For the channel. That's exciting, Chuck. I'm sure people sure Joe like everyone a jeopardy you might be good at quick. I just came out of my base. But questions back to the basement. A good quote I've got. I've got a couple things here. I want to go. But through that the six planks to retirement plan that we're talking about their six key planks. But I've got a copy of the book, and we had Dr Wade Foul on. Dr Fowler was like 40 some years old. He's one of the smartest guys I've ever met in the financial world. He's the chief educator at the American College, which teaches all the retirement pointing courses, toe folks like me. He also is the chief instructor. Of the R I C p the retirement income certified professional. That's ah, big destination about planning for retirement. I happen to be our I, C P and I met Dr fell several times. Get him on the show, probably 10 years ago or so, maybe more net. I didn't. I didn't know who he was back then. It's like 2008 they said. We've got Dr foul coming on the show today, said, Who do you smell that? Speaking to that so way, he joined us on the show from Tokyo, Japan. Who knows what time it was there were talking to him, but he's written a new book, and we had him on the show a few of months ago. It's called safety, First retirement planning and integrated approach for Awori Free retirement Now what? What's one might main planks of this show is having the war e free aspect of the financial world. The retirement being worry free. Very, very important. This book is written by college professor is you can tell It's 350 pages but is packed with great information and we're gonna have this is a giveaway at the end of the show, Thomas. I want people to just foreshadowing what's going to happen here. We're gonna have we got 20 these books. And he didn't find him. Unfortunately, but the way he sent me 20 books would give away its great resource. Genius. How? Chuck, You heard him. You heard? Absolutely. I don't know if you did, Jennifer, not how old did he think he sounded to you, though? Ah, Nothing wrong with this, by the way, but his voice is very young Sound 45. Maybe, like 12 to me, Chuck. You don't 45 is 45 Well, dog years area Sounds like it's 12 which is is pretty funny. He's just his voice. But it was, it was isn't enjoyable. God, it wasn't because I had to listen to hours of this stuff. When I was amazed training for the RCP Anyway, That's a great book going to talk about that. Now let's get back over to the planks here for the sixth key planks to a true Financial plan. Okay, we cover debt management. I want to go over to cover that pretty good, too. We did covered very women covered all we discover the credit card aspect of it. Exactly. And now I think something that people overlook. Especially as they have a family on DH. They need to understand this moron Mohr and have to be organized. Do you have a will? And if you do when was that last updated? And is it a meeting all off your expectations? If you are, heaven forbid to pass away, Spence said. Where there's a will. There's a way in. There's a way to leave the money the right way. Now the wheel may not be the right way. We're not attorneys here. We do work with attorneys, and so we make sure that people get a proper Recommendation for a good estate plan because Having your financial plan. Your retirement plan is those air. 2/3 of the puzzle with last is how you're gonna leave the money if you're not here, and we've seen so many mistakes, and over the years and one of the main one is assigning your Financial advisor is the trustee and people do it. I see it a lot. And so you know what? That you know who the trustee is? The trustee is the teacher. You have to ask permission if you want to go the bathroom. So if what's that you did mistakenly or whatever you signed up is assigning them a trustee and down the road. You want to move your money, You have to beg them to move your money somewhere else. Help. How does it possible that we see it? Thomas Schaeffer. You seem to party and Parker of Holland complain about that passed out. Absolutely. We're set up like that. So just meet with an estate planning attorney. Most of my love for your free consultation. Show him what you have. Tell him what you want to do. And then make sure you're here. There's a big red flag. Here's what we see. That doesn't happen like it should. Make sure that your financial team is in touch in contact in agreement with your legal team. Now they can have disagreements to begin with. But until something is putting you away when you put something in writing and you sign it, make sure that there's agreed upon by all sides, checks and balances in the financial world very, very important. And it is also in any kind of things we do. We need to have more than one opinion. We need to make sure that things are done right before we before we cut the wood. My grandpa was we know he was a carpenter, and he always told me he measured three times and cut once. Now the old joke now is to measure twice, he said. Three I would I would go with him, especially these days. When you get centimeters millimeters and inches. What you going to do with the interest yourself? Who knows when you ever try to make a recipe sometimes, and I do every now and then online. They're in there. Not there, not in grams instead of ounces, or whatever the non cups Aaron leaders and so you have to do.
"dr wade" Discussed on KOMO
"You're not for those clear skies it's another cold one out there as we continue to forecast the overnight hours and early on your Saturday morning likely down in the twenties in many locations Tina bundle up as you run around do some early morning shopping on a Saturday otherwise Saturday afternoon clear and still chilly with forties and then we're likely seeing a wintry mix that early on a Sunday morning of we tap into some scattered moisture coming our way I'm set point in the come a weather center right now thirty seven degrees detectives in Pierce county are now digging into the reason a man crashed his truck and then end up shot and killed by sheriff's deputies this is all going on in Pierce county along highway seven year Eatonville Koluszki they'll read reports from the scene because all started just after midnight when for some reason a pick up truck driver went up that road that Dr Wade was confronted by the homeowner water told detectives that he felt threatened by the man in the truck asked him to leave and then says he fired a couple of warning shots into the ground moments later on I was seven the pick up hit another car and rolled over that's when Pierce county sheriff's deputies arrived tell a police are not handling the investigation detectives are working hard to figure out why the man was in the driveway in the first place why he crashed his truck whatever between him and the deputies who opened fire and so for now the three deputies are on paid administrative leave which is routine while this is being investigated okay numbers come McClary detectives are looking into the shooting death of a man after his estranged wife said she had no choice but to shoot and kill him Grays harbor county sheriff's office as the forty seven year old man broke into the woman's home Wednesday night armed with a knife despite having a domestic violence protection order against him there was a struggle between him and the woman's friend before she grabbed the gun and shot him deputies are still investigating but they say it appears to be self defense man randomly attacked an attorney outside the king county courthouse we kept behind bars he fits the profile of other attackers in the area the judges jurors in county workers say needs a bigger police presence there come was Matt market which has the latest disturbing to watch deputies say Frank Hubble like got off a metro bus and randomly attacked a defense attorney he does not let up the metro bus driver tries to intervene a Marshall from the courthouse eventually tasers him and takes him.
"dr wade" Discussed on KDWN 720AM
"I have been quoting from a Guggenheim study. And as I mentioned you during the break, John Guggenheim's got a recession dashboard. There's a dashboard for isn't it it's tick ticking. I happened twenty twenty is what they say. When the next recession will be the question is whether it's twenty twenty twenty twenty one or twenty thirty eight. Are you prepared behaviorally to deal with the pullbacks? And or the recessions, remember if you hit a recession, the likelihood of you losing some forty one percents pretty high. And so how are you prepared? Again, go back to the probability based way of planning, which is I put my money in stocks and bonds, take my systematic withdrawal and take my chances or the safety first strategy, which we've talked about which is securing perhaps your essential expenses with your social security pensions annuities and so forth or bucket ising. Having an ample amount of safe money stashed away to get you through those seventy nine months as it were because that's what happens on average. When you've got a greater than forty percent decline on average. You're going to be basically hurting for almost seven years. So do you have at least seven years worth of money that you can pull from now the great part about where we are today versus where we were. Back in the early nineties. When I first began the whole bucket strategy thing is today, you have another failsafe if you're over age sixty two and that is you may be able to pull money from a reverse mortgage. Dr Wade fouls written about this many times, it's an expensive loan. But in reality if it keeps you in the game. It's not quite as expensive as one might think. So if you're uncomfortable with a seven-year fifteen years safe and relatively safe amount stashed away. Then maybe you can play the odds by having a free and clear home and having the ability to draw from a reverse mortgage knowing that if you don't use that money, it will have minimal impact on the value of the home uncomfortable because you're not taking enough risk because you might be missing out. Yes. Well. That's what that's what investors do John human nature. Now, you know, me I go the other way first thing. And I I was thinking about this. I learned this in college when I first moved out of my own. Alright I always said to myself. In fact, I figured out how much I needed have the roof over my head to pay the rent keep the lights in the water on and have enough to at least eight MAC and cheese, if I had to every single day, and I came up with a number, and it was like five hundred bucks a month or something way back then I knew that if I made five hundred bucks a month cleared that much. I at least had the essentials covered. And I felt all right. I didn't have to make money that was nineteen twenty. That's that's where that came from. I knew I would not be out. Also, explain I could eat also explains how you got into the radio. That's true. Because I said the radio businesses covering my essentials at five hundred bucks a month. Which is about what I may. And I'm glad you did because you are doing overnight, and I was doing ten o'clock PM show. And you were my man, you know, this whole radio thing was just a lark. I just said let me just do this for fun until I figure out what it is. I want to do with my life. And now it's been thirty four years. Let's do some emails say sit back folks, we're gonna do emails hit it fellas. You've got..
"dr wade" Discussed on Biz Talk Radio
"There was a lockdown at combine high school and other Denver area schools. Authorities are looking for an eighteen year old white female Jefferson County sheriff's spokesman Mike Tomlin night pious travel here to Colorado she made threats to commit an act of violence in this area. She is armed and considered to be extremely dangerous.
"dr wade" Discussed on KDWN 720AM
"A man insane. Talked Gu's right. This on. Great movie great. A great great talent. But he married a fourteen year old, Jerry. Yeah. Well. It was a different era. At least oh Lord of mercy. Okay. So all right. So we're we're responding to. But I'm doing a whole segment of a show on this. Gene pastula will be joining us on a little bit. And he may have some comments on this as well. But but member I've talked so much John about product diversification to throw anything out. And I'm not throwing bonds. I still like Vons. I'm fact I like unconstrained bond funds. I like high yield bond funds, I like corporate bond funds and all that. And Jen, I think our namely yes wrote wrote an Email and said that our broker, and I are in this dispute. We're not in dispute I'm just saying let according to the academic research and all the research that I've done personally most of the time if you're talking about safety bonds like government bonds, you can get similar degrees of the surender can't get the same one. There's nothing safer than the government. But certainly insurance companies. Backing the performance of an index new itty, and when you look at the actual performance, it's hard to argue with ninety years. So Roger Edison pretty credible guy. You would say, right. Sure. Yeah. And zebra capital. Went back looked at ninety years worth of data Google at you can look at it yourself and uncapped fixed index annuity produced better results than bonds. And the story she got ninety years of data. You have all kinds of other studies that have been done like this one. This is Rex void Blinn ovum saying that right NS CFP CAP NCAA sell. We couldn't figure out what the ASL, but you can make it up yourself. I do know MSN CFP. So smart guy. No doubt. With one of the smartest people that I know ever spoken to him I life Dr. Wade foul PHD CFA from the American college. Here's what they did. They looked at the the mitigating the four major risks of sustainable inflation adjusted retirement income, I'm going to skip to the abstract. The last two statements and read them word for word. So that Jen can communicate this to her adviser who thinks I'm some kind of knucklehead evidently later in twenty thirteen foul released his pivotal study, quote, breaking free from the safe withdrawal rate, paradigm extending the efficient frontier. For Tyron income. So right off the bat. You know, this is kind of a highbrow thing. But that's what finance professors are in which foul plotted a thousand one different financial product allocations. This is what I'm referring to when I discuss product allocation projecting one, the ending death value of each asset mix and to its probability to provide thirty years of retirees income needs thus discerning, the officiant retirement income frontier of various mixes of investment fraud. Now, you're going to have to explain that for people who are saying. I don't know what you're talking. Let me finish. And I will. All right. The product allocations because this kind of explains it that demonstrated the most lax excuse me, lack luster retirement frontier were the combination of stocks and bonds that was the worst. Case. What Jen you're at visor is suggesting you do produce the worst results when compared to an allocation of different product mixes? So he's so far one hundred percent. What performed best when considering how various product allocations meet these objectives. I found. This is Dr foul speaking that the combinations that best meet both criteria are those consisting of stocks and fixed speeds single premium immediate annuities. According to foul bullet point four last bullet point in the following paper. However, I put the however in their foul has added one more product next to his study a fixed indexed annuity with a thirty year inflation adjusted income writer his results demonstrate that this specific FAA illustrated using its worst case guaranteed projections compared quite favor. To his above referenced stock speed combo at three percent assumed inflation and out performed all of his other product allocations at a four percent assume inflation rate, Jen the case is closed when we talk about asset allocation, we should also talk about product allocation and one of the products that should be considered in the mix. Not according to me. But according to Rex Voight land, according to Wade foul, according to zebra capital, Roger Ibbotson and all bunch of other people, including me is you should add a component of fixed index annuities, and perhaps be as as well. Having said that I'm not anti bond at all municipal bonds. I think municipal bonds are great now whether or not you should own them versus corporate bonds. In your IRA, looking at the spread between what kind of yielding get on one side of tax bracket is on the other side versus putting taxable money, and stocks and your tax those are all items up for discussion with a good financial adviser that understands not only taxation, but understands product and asset allocation, unfortunately, Jen your adviser, doesn't can somebody call. I've said this before how could somebody call themselves fiduciary, if they're saying, you should never consider certain products that may actually be well, you've just read the results that may actually work way. Better. Don't get me started on that one because I could do a whole show on it. So I won't comment for a minute. I can comment for one minute. He may. Or may not be a fiduciary. I don't know. Some people are reduced Sherry by title. I don't think a label makes a person a better financial advisor labeling. Someone does not make them. Really smart. It does them really good. But it it says they're putting their customers interest before their own interest. Which led if they don't know what's in the best interest for their customer than I nothing else to say if I'm jen's advisor, and I'm technically recommending in some small way the worst method of doing it. And I say, Jan I am acting as your fiduciary, then I'm wrong somewhat disingenuous. Yes. I mean, I I can argue all sides of that conversation, and we don't really have time, and I don't have the desire to get into that whole argument because I I think it. Comes from a different place. Not really the place where people are concerned so much about the.
"dr wade" Discussed on Biz Talk Radio
"The life insurance discussion, I think we're gonna get into with with an Email because there's an Email or that makes a bunch of money who might be in that category. So I'm going to put that one on the back burner, but we have discussed and almost discussed on a weekly basis how bond funds don't belong in retirement portfolios. That's not me saying that that's Dr Wade foul after extensive research, and we have this. Discussed how annuities can be excellent bond alternatives. And finally, it would seem that the investment community that right for CNBC, and so forth are coming to the same conclusion that I and you and I and others have come to what were they favouring before? Well bonds are to fifty year low. So they were favoring the return or the yields on bonds mostly out of ignorance because this is been a true statement for decades that you could put money into a with I should say insurance companies, by the way, where do you think the big pension managers go to get their fixed income? I know where they they've always got. This isn't recent no they've gone to insurance companies because insurance companies will give them in many instances higher yields and some underlying guarantees whenever you see a group annuity. Contract or a stable value fund, or whatever many times, those stable value funds are contracts. What are called guaranteed investment ton tracks offered by insurance company kicks as we call right? So it's been going on in the institutional markets is the beginning of time where the institutions were purchasing. Insurance contracts because the pension fund has a certain time horizon that they have to match to their pension liability. Remember, we talked about liability driven investing last week pension plans have to be liability driven insurance companies do not insurance companies are here for the duration. So the insurance company can accept the interest rate risk because they know they're going to not going to have to. Get out before the bond if you will mature, no I in instances where they do. They're using the law of our large numbers and all that stuff. So so they quote, Tom hanger, whom I know from within the industry who is an insurance consultant and they talk about because bond returns to fifty year low. He is now seeing more individuals moving from bond funds. He says the life insurance I'm gonna scratch that to a later debate and income annuities, which we have discussed nauseam when you buy an annuity contract. Whether it be an income annuity or a deferred income annuity or a fixed index to nudity many times, you are able to achieve a yield that is significantly higher than you can get in bonds itself. I had an Email over the weekend that I addressed on my goes, remember, we've talked about them. We talk about him every week because all year guaranteed annuity. Yeah. And what we determined is one could buy..
"dr wade" Discussed on Pet Life Radio
"May have read in the newspaper heard about long long waits and people doing without. And there was something in the Toronto news that will talk about in a little in a little while that was disastrous that people really need this service dogs, and there aren't enough to go around. And I recently met a few people who are trying to change that. So service dogs unleashed is the company where profiling today and with me today is Jen court show and Sharon Cole. Welcome to the show. Sharon, and Jen. Thanks for having us. Well, I make. Oh, yeah. Well, I met you both at the same time with a couple of lovely lovely dogs. And maybe we can start by just I know you both like to talk about your dogs. So let's start there. What kind of service dogs? Did I meet and tell me what those beautiful dogs were up to our church dogs actually help us with medical needs as well as stability as well. As other things lie with the medical alert. We're looking for seizures alert PTSD, which is your post traumatic stress disorder as well as other Chike accurate needs that client would require. So my dog is actually medical as well as stability. Okay. So when I met you you were walking with two crutches. So dog work with the devices, you're using. I mean, I know I know that not every dog can handle that right? So for my shelf, I use the hands-free lead. So I put the lead around my waist. So I don't actually have to use the lead in hand. But I also use a wheelchair as well for my mobility. So the dog has to be able to navigate that not be afraid of it get out of the way, definitely not pull down a person who's walking with crutches or Dr Wade from someone who's in a wheelchair. So it takes a pretty special dog when I met you both Sharon, and Dan, you came in with the most adorable. Blond golden retrievers only they weren't quite golden retrievers. So maybe you want to explain that a little bit. Yeah. So we have a line of talk that we call sport retrievers, and many sport retrievers, they're usually mixed of cocker spaniel and golden retrievers. Okay. So now people are listening going cocker spaniels golden retrievers, so why those two what's going on. Why why would you? I mean, I kind of know, but but most people don't think give a cocker spaniel as a working dog even though he ever throw a ball. When you sure we'll find that dog will bring it back and bring it back bring it back. It's working dog. But right, how does why cocker spaniel of all the dogs on the ears? Why them cocker spaniel are known to be intelligent. Whereas if you were to go with like, a Papillon, they would eight two yuppie in that regard. They talk a lot for a cocker spaniel. They're working dog because they're originally bred for gun knock which means that they were for hunting small game like rat other. The road rabbit, and including bird. Well, yeah. And also like when I think of Cocker's there's something in going small that makes them less intimidating, right? And also they live a lot longer. Oh, I see. So you're taking a golden retriever lovey lovey dog. And your breathing it with something that wants to work and lives long and doesn't scare anybody. So. I mean. Yes. Yes. Jen. The average life span of a pure bred, golden retrievers, fourteen years, right? Okay. It you're lucky. So typically, that's why we like to breed our dogs with another dog and make hybrid. So that way the longevity of the dog is fair. Now, that's the kind of a double whammy because not only are you getting what some would declares hybrid vigor whenever you take two breeds that aren't the same. You're less likely to get the genetic problems that have arisen by breeding. So there's the one plus and then you're breeding to a small dog and usually small dogs with longer than big dogs. So you got double going for you there. Now, I know that it takes a long time to train a service dogs. So you definitely don't want a great Dane to be a service dog because he only grows up at two or three. And by the time he gets to six or seven he's in his geriatric years. So you get a lot of work out of them. How long does it take to train these dogs? Jen. Vote to bully years to fully train service. Yes. Youthful years and sank cherry takes two full years to train a service dog NFO thirty five thousand dollars to train one dog. Wow. And the weightless. What are we looking at? If I were to say, I had an autistic child and I wanted a dog to help her him. How long would I have to wait, and how much would it cost me right now? Okay. So typically, typically speaking we can be anywhere from two to five years, and as far as cost to a client. There is no cost because all the agencies are nonprofit, so everything does come out of our own pocket. We actually have to rely on sponsors to help us with food carts and any other charitable donations that they would like to give up. You wanna touch base on that as well? We know at Sharon. I love you to to spell out. What do you need? What do you need because this is the time to tell everybody if you're out there, and you're thinking, you know, what I'd like to help these people get more service dogs for more people. What's on your wish list, we need more donors, and we need volunteers as well as saunters and cost and fosters? Okay. So tell me what's involved in a foster. Well, the fosters will be able to take care of the dog temporarily while being trained as a guide or an autistic aid dog as well. And they will be able to stay with the foster and then the foster will be working with the handler as well dog trainer to train the dog. Okay. So you're looking for people who've had before I'm guessing and are soft. I would say the you don't want me big on correction. I know sometimes people think service dogs must be. Precision trained. So that means harsh harsh is not precision. Right. You. You wanna dog is not afraid of anyone, and that's really important that it is treated harshly. Right. And that's why we do temperament casting right through from the time. They're vote six weeks old all the way through till they go for their credential access testing. Okay. Okay. So I want to go to a little commercial break, and we're gonna come back because this is my favorite part. I love the puffy testing. So we're gonna come back, and we're gonna talk about some of the tests you do on these puppies. So if you're at home, and you have your dog at home puppy, and you think to yourself I wonder if he could be a service dog will you could do this little test on him when we get back after the break, and if he passes maybe you wanna see about joining a hospital visit program getting trained up to do that because it part time services nice too. And it's really really rewarding for everyone. But we're going to talk about how to test your dog coming up next on animal party with pet life radio. My guests are from.
"dr wade" Discussed on WGN Radio
"There's proudly served here at the new Welsh ride arena. Visit us in Evanston. Call for delivery AKIs. It's the sauce. Been a little closer this half. Minnesota's outscore the Wildcats twenty four twenty two. Joe you sat what I was thinking off the air that. That. All of a sudden, you get you get you get it down to fourteen come down at score. Again, all of a sudden, it's twelve or potentially eleven points. And now, you hack -cially odd as it might sound three pointers go down, you you have a chance, but that that turnover at the duck at the other end, there's really kind of a crusher it. And there's been no game pressure under soda. So they've been free it easy. All that might have put some gave pressure and see what happened. I'm going with my first comparison tonight jail copy his played like Jalen rose, Jay roles, whatever the lefty from Michigan. He he just he just like you six eight. He's got that ability to get to his left hand and score an inconsistent shooter shoot. Well tonight. Murphy's out there. Oh to ru Kausar mcbrayer coffee. So Richard Pitino is taking nothing for granted here with three forty wanted to go leading by sixteen. Rawle parotid hash Mark across robots off the garden end apart between the rates strictly top goes underneath it law shot was blocked and grabbed out of the air by off great play back screen yet it open and puffy cave for backside pending coffee thirty to eleven here tonight. Here's Cal Scher are rare high right feeds at the coffee lower at against games exit able to the right shoulder ball. Dr Wade gains steals, it a gap law to gauge the lobbed a cop layup good fifty six forty two three oh, eight to go. How about gains has four steal a new career high for him? You know, he gonna play hard every minute. He's out there. Lillard top now with nine voice here. So to rue has it off mcbrayer slides past law gets the right quarter. Nowhere to go brings it back up for to ru banks, it a foul gets underneath the drops deputy slams it down with two hands. Kiro with Don and it's fifty eight forty two. Two thirty to go gauge on the left wing. Today. The law back out to fell zone briefy law up top gains guarded by Murphy. Jab step moves, right? Twelve to shoop gives the cop at throws it out the games on the right side line gets out with two sixteen to go. I think I mentioned it before would Coffey scored seventeen here two years ago. I believe that was. He was a freshman that was his career high tonight. He's matched his career high. And he said a career high for rebounds free. Throw goodbye games. Fouls. Culture is fourth. His first career double double here tonight. Second free throw good. Six fifty eight forty four to thirteen to go Wildcats season low for points, forty six app, Wisconsin. Two board of lease match that. Here's coffey. Not that that would be much consolation at this point. Here's Coffey candidate shoot a minute. Fifty five for the gate coughing hooks up past stolen by law. Law one on one with Berkeley down the floor layup out at one. Vic law coming up with the steel off the Minnesota turnover there twelve. Burpee the foul and law a chance to cut it to eleven here minute, forty eight to go. Law looking for tenth point. He's got it. Eleven point game. Now, the cats will pressure coffee. Heaves Cal Cal shirt. His foul by law. That's a second. That's. Meant to do it. You know, sometimes think put him on the line. I'm not sure this is the right guy to put on the line. Seventy six percent free. Throw shooter has not been at the lines at I wanna want here. Wpro is good. If denied forty seven. So. He'll have another one here to try to put the gophers up thirteen but the better forty three left. He does. Get back. Sixty to forty seven Minnesota minute. Forty three Lux gophers keep their TWA hopes alive. It appears. Law at the top. Hi, right against Cal heart in the lane stops, fires the jumper. No good to rue the rebound. Cop is to drive into did their Joe, I was to say, Pete NATs. You take. Oh, Mr. copy, go get him up. Here's Coffey, pressured by games minute. Twelve to go. Towards the final minute coffee gets back from Otaru shot clock at a cross-court feed. Mcbrayer right side. I go three. No, good rebound. Derek part. That's his thirteenth rebound gains. At the other end out the law for three got it. Law. Three reporter ten point gave fifty four seconds to go. So the the front door, but cross-court feed towel shirt leaves it for Coffey, forty two seconds left. The not gonna fall, but they might file this possessions. Pope, check their coffee extent Murphy now Kausar were they across the coffee shot clock at five at four Coffey with to with Wanda rudder, go. Good rebound. Murphy puts it back up in and out. Their account the basket Appalachia goaltending. Goaltender. Yep. Two fifty better is than I have. Accounted for Murphy. Nineteen seconds to go. Here's gains all the way to the basket as shot was blocked by mcbrayer picks it up off the floor. The Minnesota Dow's to dribble out the final seconds of this one. The Wildcats losing streak reaches nine this ball game is over. And Minnesota has beat northwestern here tonight by bottle score of sixty two. Two fifty. Gold. Gophers keeping alive their NC double A tournament hopes that pick up where. Big town where the Wildcats. A little bit deeper into that big tent seller. Three and fourteen. Stay with us. We'll talk to coach Chris Collins recap the scoring for you. On.
"dr wade" Discussed on Biz Talk Radio
"Is Joe helping you to make better money moves just got an Email. I I do look at these. And it's it's from Ralph Ralph I know this is the male segment, but I do anything we want. Sure Ralph says this I don't know if he's an advisor not the place to buy an annuity. If you are so inclined is to purchase it in an IRA. This gives you much more flexibility than if you ever want to sell it. There is no taxable event. Absolutely. Right. I years ago. I got in an argument with one of the regulators in an audit on this very subject Ralph, and she looked at me. And she said, why are you recommending putting annuities inside of an IRA? It's tax deferral. You're already paying for tax borough. Why would I pay for it? I you called Ralph lately have you talked to Ralph because Ralph gavitt he understands why because it's an ordinary income asset, and that's what's spews out of IRA's, ordinary income. This is it's mind boggling how stupid. People sometimes can be well, it's a very common argument though. And I it was probably more common. Twenty thirty years. It's it's very sophomoric. Because people today if you do any kind of homework online or otherwise, yeah, you'll see all the negative stuff. But that's those pundits. When you get to the Lauren Minch is who's an actuary who has studied this. I'll quote from her stuff here in a moment if you'd like or Dr Wade foul or David Blanchette over at morning star or motion Milewski York University, and the list goes on and on and on so anybody that does their homework could refute everyone of this bozos arguments. Well, the tax deferral thing inside the tax deferral. I, you know, I think when ordinary income rates and capital gains rates were closer the same. And that goes back thirty some odd years, you might have been able to make an argument one way or the other not anymore not anymore if you're ordinary income assets. Anyway, what could sit in an IRA because I raise all income all income coming out of an IRA is taxed at ordinary. Income rates include. Capital assets like stocks. Yes. In easy for people to forget. All right. So I have to move on now. Because I'm enjoying this Valentine's Day, I was reading this and my wife just came in. And brought me my phone. That's why was not able to get the emails before. Because I left my phone at home. She delivered it and I. Without it. You don't even live nearby. I know that's my wife for you now go, and so I've got to do something really special for Valentine's Day. I still haven't figured out. What the heck it is. I thought you both into say just the other day that the you you both say, I won't buy you anything. You don't buy anything. Let's forget it. And you say you wind up I always end up doing that. I get in trouble. But I think this year we have Jonah with us for Valentine's Day. John his granddaughter number one or two number three three. Okay. He's just turned thirteen. She's she's thirteen. I was gonna say she like four now. But that's headline. All right, couples are healthier wealthier. And I can attest to this less trim. This just in a study this actual studies. You know me. I'm an academic research guy was published suggesting the being married boosts your chances of surviving cancer. How's that grab you? I don't see a cause and effect there. There is no cause back, but it's a study. Okay. Gets out of the London School of hygiene. And Tropical Medicine. What is dropping all medicine? I wou STA you know. In Denver that they're trying to legalize magic mushrooms. Okay. You're being happily married can also boost your chances of living along wife when researchers combine the results of numerous studies. They found that husbands and wives were ten to fifteen percent less likely to die prematurely. There you go unless it's a Sicilian family. Then all bets are off. He's kidding. Of course. Of course. Okay. I again, I'm not sure I c- causing effect other than the fact that as you get older, it's nice to have a companion case separate research has revealed that individuals in conflict ridden relationships have higher levels of inflammation. Which is associated with many age related diseases weaker responses to vaccination and slower healing rates. So you don't want that inflammation stuff. So so what moron? Get out areas. Stay married, and you will have according to this study, less loneliness. Yeah. Unless it's all conflict as you just said, well, yeah, you'll be happier. Yeah. You'll have more. This actually says this John Shirley, single people single people have more. Oh, sorry. Don't call me, Shirley. We'll leave that one because it's a family show. How to keep your friends working an obesity all that stuff? The one thing that is interesting is couples are happier. Wealthier live longer and have more satisfying sex lives than single people. However, married men are twenty five percent more likely to be obese or overweight, then they're unmarried counterparts. So there you have it. Why am fat see that? Well, it's your part again. Let's go back to the Sicilian thing. It's some of the best food. You're going to eat. What are you gonna do say? No, you couldn't say no to my mother, and my grandmother she'd smack me with the wooden spoon right on the hand. Why you deserve it. I had some of the cooking. That's if you're if you're doing the old fatso thing where you take the talian bread. And you dip it in his office. Did you ever see the movie with Dom Dom deluise? Oh, you told me what a great. It's a great movie era, Sicilian Italian. You can really relate to, you know, making the sauce the six hour sauce, and then when the grandmothers not watching you dip your bread in you, eat it. I thought that's the only way to eat it that is the only way to eat it. In fact, in fact, I as I understand it it's even proper etiquette in these circles to when you have all the leftovers sauce or gravy, whatever on your plate. It's to take the bread in stop it up all the way around almost the clean play. By the way, it is called gravy. I can't call it accidentally. I'm not Italian. I'm not allowed to say that. Well, you come from your wife comes from an Italian. But that's not what that's you know, that's by marriage hurt. Her father's side is Cecelia. So she can kind of do it. I can't I've got none. They don't let you dip the bread. Now that. She's just says that's uncouth or whatever it is. You wanna let me drink milk right out of the bottle either. But that's a whole other story. Well, first of all don't drink milk. It's really bad for you know, it is. My wife doesn't drink milk. She does coconut milk and almond milk and all the food milks that are really popular today. Now, I just wanted right right out of the cale drink milk. I don't even like it. I like it. I just don't buy it anymore. Okay. Go ahead. You're next up. Well, all I have is some I I like to run these numbers every once in a while. It's it's by the numbers. And I know you've gotten what before you get into that. I did say that I was going to quote from this other study, this is really fascinating is this going back to the this is the Lauren is. So sorry. Okay. I thought you were. But then you said you were done talking. I thought I was done talking about it. But I guess I'm not the point that I made is she she did this massive white paper. Well, it's not that massive. But Jeevan quotes foul and some of the others that have produced documentation on why bonds don't belong in retirement portfolios. But what she actually and she stuck her neck out and put recommended percentage of fixed income allocations to annuities. I haven't right here. And I would highly recommend that you look at it. It's called her name is Lauren mentions FSA VP product at actuarial, blueprint income. This was may thirty twenty eighteen blueprint income. I have no idea they they are. But in doing my research, this is what I found that if you're greater than ten years left until. Retirement. She says you should have fifty percent of your money in fixed not variable those fixed income type annuities now I didn't get into the specifics. But I'm sure she's talking about any kind of a fixed or index or whatever type of an annuity at nine years, and she she's basically adding five percent and this is fascinating at year zero. You're going into retirement. She agrees with Dr Wade foul. Nobody's one hundred percent of your fixed income allocation into income producing annuities. Again, I'm not recommending that. I'm just suggesting that the actuaries and the academic studies all come to the same conclusions. And they're the ones that got the calculators. They got a better calculator than I do you talked about comparing bonds, and I think it was fixed index annuities over the course of five years ten years, whatever it happens. To be and it turned out through that whole ninety year study that the fixed index annuities beat the bonds every time sometimes by little sometimes by more, but on average it was something like maybe one percent or a fine in any given year. I mean, if interest rates were to go down substantially. The double digit. We we saw that on average. Right. The fixed index outpaced the performance of well when you tie up a fixed index annuity it's tied to an index a lot of times, and you mentioned the S and P five hundred. I just wanted to read a stat. When we come back the bay explain why why those those annuities beat the bonds. Yeah. Well, when you're tying it to the stock market the stock market does. Good. I'll give you the number the number. I've got to give you the numbers. But we gotta do Quebec. All right. We'll do it. When we come.
"dr wade" Discussed on Biz Talk Radio
"Bulldog is in the house, gene pastula. Hey bulldog. Welcome back to the program. Hello, jane. How's it going? It's going very well. So I'm sure you heard me talking about how a permanent life insurance policy and an annuity can help fun and individuals retirement plan, and as I mentioned not to get caught up in the numbers, folks. But the bottom line is this what your trade offs are. According to this research done by Dr Wade foul is a brilliant stuff, by the way. Af you got knocked off at age sixty six you'd have about sixteen percent less money. That's husband, and or wife, so how many couples both are gone by age sixty six basically, none actuarially speaking. If you made it until age one hundred an individual or a family that just focused on funding their 4._0._1._K in a target date fund on an inflation adjusted basis. Forget the numbers for just a minute. Would end up in this example, with only two hundred sixty five thousand left for their heirs versus one million four hundred and sixty thousand four hundred and fifty one percent more gene, they put the same amount of money into their accounts. The difference is in one instance, they've funded a permanent life insurance policy, which would take care of the spouse in the event the breadwinner died early and a life annuity, which means if they made it page one hundred they still get lifetime income. Why is it that so many people beat guys like you up over the products that you make available actually at a you know, what I think it's I think it's. Feels more complicated to everybody involved, including the press and people who are investment advisers that. Basically what they know about insurance products. It's just a little bit lower than what their clients do. And and they're not in the business of doing that. So there's a lot of negative. Information out there. Some of it worth. Worthwhile. There are very very expensive. And depending on why you're buying it. And what you know what you're buying them for they can be perhaps not as appropriate, and what have you? But when you know what you're doing with these insurance contracts. And you know, what your objective is? Then. Then you start to see not not instead of investing in real estate and stocks and bonds, but in addition to. And I've talked a lot about you know. Unlike retire semi retired out into the out in the desert Palm Springs, I live in a community with a lot of retirees. They're all fairly well off. But. What do you talk to about their their vestments? It's amazing. How many of them do not know anything about what they're invested? I have a financial planner. He handles it. All well. How's it going? Seems like it's okay completes or whatever. And the ones who do always will actually talk about it more. And they'll always mentioned they have an annuity or two in their portfolio enters the ones who pay attention to their finances. Gene pastula who pays attention to his and perhaps yours you might be interested in getting hold of him. Not only because he's a good guy. But he's he's one of the smartest guys and invented the so-called linked benefits plan that now is being used by literally thousands and thousands of individuals most banks all around the country are utilizing this linked benefits plan. One of the things that upsets the apple cart in retirement, and I think the index universal life takes a baby step toward addressing this is filling the need of long term care. But there are other ways to do it as well. Yeah. You know, I started in the insurance business, which is long long time ago. The sale of insurance to older people was basically kind of limited to people who had very large estates, and we're facing state taxes when they pass away. And so having an insurance contract like like, you mentioned last last segment the insurance policy grew to a huge amount of money by the time. They were right in their, you know, their, ladies, and and so. They would use it for that. But interestingly enough, we have a live in a society where retirees. At least half of them statistically will end up spending a significant amount of money into the tens and hundreds of thousands of dollars before they pass away on convalescent care, long term care and the policies and the insurance contracts that had been available up until about twenty years ago were of the same kind as your homeowner's or your auto or whatever you pay a premium and. To pay benefits if you ever need it. And if you need it that they pay benefits. But if you don't. The insurance company, obviously keeps the money to even think about the fact that they could potentially use long term care. So we came up with a different approach. That's said why don't we use her life insurance policy because that? Leverages magnifies the amount of money significantly that you put into it. And is designed to pay a death to your beneficiary. That's that's the value of this pilot. But why don't we change it just a little bit and say, but you know, if you need long term care, you can tap the death benefit and receive benefits for depending on the policy two four six years. And if you don't need, and if you don't need long-term care if you are right. Your healthy. You're gonna die ninety five asleep in your bed. The. Benefits will be a to your heirs. So the money that you put into one of these contracts, especially in your in your. Later years fifty five sixty and above. Wants the benefits are paid out. If you look at the rate of return, it's extremely impressive. The sooner you die return. But the point is that even if you live into your late eighties early nineties the rate of return is better than having the money in the Bank, and it's tax free. In the meantime, that same amount of money could be paid to you to pay for long term care. Sample. Lot of the business that we put as we just take a Bank account and some of the money in the Bank and move it into the insurance contract. Let's say we're talking about one hundred thousand because it's easy to do the math. But it's all proportional, one hundred thousand dollars has moved from a Bank account. That's getting what what are they getting.
"dr wade" Discussed on Biz Talk Radio
"You got one hundred. Yeah. About thirty four thousand bucks a year. Okay. So at twenty nine hundred dollars a month with that allowed me to do is to go to the the non quality program with this letter the rates, maybe. Three eighths to a half a point higher. But with the debt to income ratio at forty nine point nine nine ratio is at forty four percent. So we would not have qualified with a regular mortgage. I'm able to qualify for this mortgage. We're getting out of an adjustable loan that was interest only. So it's not only at five percent now going to probably five and a half the exchange, but as loans amortized for twenty years because you're gonna tell you, right. So by doing a new thirty year fixed rate. Interest rates a tad bit higher. I think we're at five and a quarter but amortized for thirty years. He's saving, or at least reducing is required payment over a thousand dollars a month. Wow. Steve Allen are alone financial planner that that's what really alone financial planning is. And when I when I read through all this stuff, and I see all of the options. And as you know, I've spent many many years doing these sorts of calculations for individuals, and then referring them over to you to make sure you could implement what you've done a stellar job with. But this does get complicated and the average dude on the street or do debt doesn't know about this. And I would highly recommend if you are a financial advisor to team up with someone like Steve Allen short because when they do loan, financial planning. Also, this whole idea of looking at their entire credit debt situation and making adjustments paying this off changing this interest rate, increasing your credit score. All of that stuff is the kind of stuff you do. Absolutely. And and again, the other thing is and we'll bring. Verse mortgage is back in as a financial planner. If you've got somebody that's got a really good portfolio of self directed accounts. And we can use the equity in the home tax free. And allow the counts that they have that they've set aside that there are eventually gonna pause to retire. At least that's what the initial plan is we may be able to create and build away more equity with those accounts by not having to start tapping into them at this particular plot. It's a really important point. And a lot of research on my end, the retirement planning side has been done on that one. That comes to mind is the retirement researcher himself, Dr Wade fowl who wrote a book on reverse mortgages, and using that particular strategy, basically using the reverse mortgage to supplement your income as early as age sixty two, but then tweaking the rest of your portfolio making it a tad more aggressive and without getting into the detail. I've talked about it before but without getting into the nitty gritty of what he had to say. And what he actually did. Did you can go online and purchase book for probably ten bucks? It's no big deal. But and he's updated it since he I wrote a few years ago. The fact was that not only did the individual retire with more spendable net after-tax income, but when all was said and done when husband was gone when white was gone the kids ended up with a much higher net after tax distribution part part. Because the first thing people think of oh my God, a reverse mortgage. I've paid my house off I wanna give the house and the equity of the house to the kids. And if I do or verse mortgage, I'm going to shortchange them. Yeah. No doubt. And by the way, and I've said this almost every day for the last twenty years, the kids don't want the house by the time you die at ninety two or ninety five or one hundred and then the kids already have a house. What are they going to do with the house except fight over it? So doing reverse mortgage kinda solves that problem. It gives you the. The money now, you can tweak your portfolio, give them more of your inheritance. And then once you croak the kids just sell the dang house pay off the reverse mortgage what's ever left? If there's anything left they divvy up because it's cash, and it's a lot easier to divvy up cash than it is interests in a home. I have seen.
"dr wade" Discussed on Biz Talk Radio
"He was walking out, and I hooked him back in because I wanted to get to this. You know, it's a very short one from Lara. Ray? Can you tell me what are the pros versus cons on reverse? Mortgages, we talked a little bit about this. But let's respond specifically to Laura I know tunes into this show every day. Yeah. And and I know that. We've taken it a step further. You sent me an Email for my partner. Dennis I made contact with their ask for additional info. As far as weighing the pros and cons a reverse mortgage. Definitely is more complicated than a forward mortgage in that depending upon your situation isn't going to be beneficial to your long term retirement plan. Now, I believe in the Email because there was some detail going back and forth with you Laura that there's not a big motivation to leave the home or leave the equity in the home to their kids. So with the fact that they've got a home that. They've got equity. I think based on their loan amount. They may need to bring some cashier to close. However, by eliminating the mortgage payment. Based on the other factors and how they're generating their cash flow could potentially make a difference for them. And again, that's what we are looking at with the additional info that were asking from Laura because as you said for some people, it may not make sense. So it's really predicated on you talking with somebody that understands how income flows work how your asset flows work getting an idea as to what your particular situation is what your needs and goals, are are you taking social security. Are you holding off on it? What are you paying in taxes? What percent of the income flow that you currently have right now. Potentially coming from maybe a self directed retirement account. Once you get all of that info that makes it easier for us to give you an idea as to how reverse mortgage would fit into your particular lifestyle. It's absolutely true. I think I talked about with my response to that Email is dead set on leaving the Ponderosa the kids then it's out of the question. But if you're not, and I think Steve just pointed out something that's so important, everyone should as part of their financial plan be looking at their dead picture and their mortgage and the possibility of using a reverse mortgage before just throwing it out the window because by re tweaking the rest of your asset allocation, you could end up leaving the kids in significantly better shape. And you don't have to take my word for that. Because Dr Wade foul retirement researcher himself has written a couple of books on this subject. Numerous arctic. Tell on yet. Yeah. As part of that financial plan, you should in fact, if nothing else evaluate how a reverse mortgage could potentially help you mean, if you're keeping your home because you've got kids that haven't been able to make it, and you know, that you need to get them in the house when you pass on it may not make sense. But your kids really what your home they're going to fight over it. Anyway, I mean trust me I've been doing this a long long long time Aminu leave a house to three or four kids. I'm going through this with somebody right now. Good friend of mine. One of the kids once the house the other three or saying, well, how you going to buy us out. They don't have the money, but mom loved me more than than she loved you one of those deals, so he just got to be really really sensitive to not only the economic side of the occasion equation. I should say, but also the financial and other implications family, why are the emotional side? Absolutely. Here's another one since we're talking about. Houses fill. My aunt had inherited her house sometime in the nineteen seventies. He's planning to move to assisted living in two thousand nineteen. I was curious what the tax consequences would be if she sold the house now versus holding onto it and renting it out to pay the assisted living and then passing it on their heirs after she passes. Thanks and advance. Well, Phil, it's an excellent question. Here's the deal if she sells the house now, she will have the potential of a capital gains tax it up to her two hundred and fifty thousand dollars exemption. I don't know how much selling the house for. But clearly if she holds onto the house, rents it out uses the rental income to help pay for the expenses, if she's going to be paying a bunch of capital gains taxes that may make sense. It will also potentially Jack up or medic. Care costs. If she sells it if she's got a big gain, and it which she probably does. So again, I don't have enough information. Let remember if she rents the house out, and she gets depreciation write offs and all that other stuff all of that goes away because there's a complete step up in tax basis upon death. Now, it's one hundred one hundred fifty thousand dollar house. She could sell it take that one hundred fifty grand out pay for the expenses. But this is once again an.
"dr wade" Discussed on Biz Talk Radio
"Alford. I he was walking out, and I hooked him back in because I wanted to get to this Email. It's a very short one from Laura. Ray? Can you tell me what are the pros versus cons on reverse mortgages? You know, we talked a little bit about this. But let's respond specifically to Laura who I know tunes into this show every day. Yeah. I know that. We've taken it a step further. You sent me an Email for more my partner. Dennis I made contact with their Oscar for additional info. You know as far as weighing the pros and cons a reverse mortgage. Definitely is more complicated than a forward mortgage in that depending upon your situation isn't going to be beneficial to your long term retirement plan. Now, I believe in the Email because there was some detail going back and forth with you and Laura that I there's not a big motivation to leave the home or leave the equity in the home to their kids. So with the fact that they've got a home that. They've got equity. I think based on their loan amount. They may need to bring some cash to close, however, by eliminating the mortgage payment. Based on the other factors into how they're generating their cash flow could potentially make a difference for them. And again, that's what we are looking at with the additional info that were asking from Laura because as you said for some people, it may not make sense. So it's really predicated on you talking with somebody that understands how income flows work how your asset flows work getting an idea as to what your particular situation is what your needs and goals, are are you taking social security. Are you holding off on it? What are you paying in taxes? What percent of the income flow that you currently have right now. Potentially coming from maybe a self directed retirement account. Once you get all of that info that makes it easier for us to give you an idea as to how reverse mortgage would fit into your particular lifestyle. It's absolutely true. I think I talked about with my response to that Email is dead set on leaving the Ponderosa the kids then it's out of the question. But if you're not, and I think Steve just pointed out something that's so important, everyone should as part of their financial plan be looking at their dead picture and their mortgage and the possibility of using a reverse mortgage before just throwing it out the window because by re tweaking the rest of your asset allocation, you could end up leaving the kids in significantly better shape. And you don't have to take my word for that. Because Dr Wade foul retirement researcher himself has written a couple of books on this subject and numerous articles. Tell on. Yeah. As part of that financial plan. You should in fact, if nothing else evaluate how a reverse mortgage could potentially help you. Yeah. I mean, if you're keeping your home because you've got kids that haven't been able to make it, you know, that you need to get him in the house when you pass on it may not make sense. But do your kids really what your home? They're gonna fight over it. Anyway, I mean trust me I've been doing this a long long long time Aminu leave a house to three or four kids. I'm going through this with somebody right now. Good friend of mine. One of the kids once the house the other three are saying, well, how you going to buy us out. They don't have the money, but mom loved me more than they than she loved you one of those deals, so he just got to be really really sensitive to not only the economic side of the occasion equation. I should say, but also the financial and other implications family, why the emotional side. Absolutely. Here's another one since we're talking about houses. Fill. My aunt had inherited her house sometime in the nineteen seventies. She's planning to move to assisted living in two thousand nineteen. I was curious what the tax consequences would be if she sold the house now versus holding onto it and renting it out del pay for the assisted living and then passing it onto her heirs after she passes. Thanks and advance. Well, Phil, it's an excellent question. Here's the deal if she sells the house now, she will have the potential of a capital gains tax it up to her two hundred and fifty thousand dollar exemption. I don't know how much selling the house for. But clearly if she holds onto the house, rents it out use the rental income to help pay for the expenses, if she's going to be paying a bunch of capital gains taxes that may make sense. It will also potentially Jack up or Medicare costs. If she sells it. She's got a big gain and at which she probably does. So again, I don't have enough information. But remember if she rents the house out, and she gets depreciation write offs and all that other stuff all of that goes away because there's a complete step up in tax basis upon death. Now one hundred one hundred and fifty thousand dollar house. She could sell it take that one hundred fifty grand to help pay for the.