17 Burst results for "Jim Files"
KSFO-AM
"jim files" Discussed on KSFO-AM
"With Jim Files and Dan Ahmed of Peak Financial Freedom Group. Remember if you have any questions or want to get a complimentary review of your financial plan, pick up your cell phone and dial the number pounds to 50 and say, the keyword money again dial pound 2 50 on your cell phone and say the keyword money. Let's turn it back over to Jim and Dan Gym Today we're talking about the concept of opening your eyes to your financial position, and I think a lot of people you know it's hard for them to open their eyes and look what they Have because they're afraid of what they might see. And we understand that our job is to make them feel comfortable opening their eyes, then designed a plan that they can actually read and see. And when someone gets everything in writing, guess what they don't mind Opening their eyes is what we find. Let's talk about something that we see. A lot of people completely closed on the rise. In fact, they squish their eyes together so tight they don't want to look at it because it's a very dark subject and that's long term care. And when you look at long term care as a financial subject is very, very tough to really come up with a really good solution. If you're a consumer because you say, Okay, gosh, I've heard long term care premiums are really expensive. And I heard they keep the premiums keep going up, and I hear that a lot of older people terminate their policies before they need the coverage. And if they if you die, you've lost all those premiums and all those things could definitely be true. You also then look at the statistics that two out of three of us are going to need long term care. The average cost probably somewhere around $7500 a month, So it's something you really can't keep your eyes closed about. So we look at some alternatives. So let's say normal. Long term care doesn't work because the premiums are so high and you're worried you're going to get a 60 80 9100% increase, So we have two different strategies. One is just an old school life insurance policy by an old school, whole life insurance policy that has a long term care writer on it. What that does is it locks in and guarantees your premiums. Can never be increased for as long as you live. It guarantees they can ever get rid of the long term care coverage for as long as you live, and it guarantees that Assad you're paying your premiums that long term care coverage.
KGO 810
"jim files" Discussed on KGO 810
"The city's downtown area, two of them critically. They're looking for a suspect You're listening to ABC News. Now checking KGO traffic. A two car crash in, uh Daly City to 80 South Bend, A Hickey Boulevard had closed the two left lanes. They just barely reopened that it had been a temporary sigalert. Still some debris that they're cleaning up from the roadways there. Some ramp closures due to construction. Los Altos to 80 northbound Magdalena onramp Close The page Milan Rampy in Palo Alto to south down to 80 closed until seven A.m. Hayward, the A street off ramp from north Beyond 80, a solo crashed there blocking the left lane, a grass fire burning off of 80 eastbound enrichment. Just before Solano Avenue and a bucket causing problems on 8 80 north Beyond in San Jose at Stevens Creek Boulevard. It is in the middle lane with KGO traffic. I'm Dean Michaels. Following show is paid for by peak Financial Freedom Group LLC. The views, opinions and beliefs expressed are those of Peak Financial Freedom Group LLC and don't necessarily reflect those of the staff management ownership of KGO ksfo, cumulus media or other partners. The following program is a paid promotion sponsored by Peak Financial Freedom Group. Welcome to the Peak Financial Freedom, Our With Jim Files in Dan Ahmed Peak Financial Freedom Group. We know many of the issues you face in retirement. Don't have a black and white answer..
KSFO-AM
"jim files" Discussed on KSFO-AM
"With Jim files in Dan Ahmed of Peak Financial Freedom Group. Remember if you have any questions or want to get a complimentary review of your financial plan? Pick up your cell phone and dial the number pounds to 50 and say, the keyword money again dial pound 2 50 on your cell phone and say the keyword money. Let's turn it back over to Jim and Dan Jim. We're talking about dirty little secrets, and we're talking a lot about risk, and I think we'll just continue on and one of the things we talked about that last segment was how we look at risk. Differently than the traditional financial industry and how clients look at it differently and really, the way we look at risk matches with clients because let's say if you have a $2 million portfolio, we'll just say that IRAs, non IRAs and you think you're being conservatively positioned right now at age 65 because your advisor says you're conservative. You think you have a 10% risk in your portfolio. So you think of the market crashes and loses 50%. You could lose 10% or 200,000. We do a risk analysis and we find out Oh my gosh, Your portfolio with 60% stocks 40% bonds, which sounds moderate to conservative, but we find out you could lose 40% of your assets, Which means now you can lose $800,000. And when you look at that, and it's put down on paper And knowing you might only have $1.2 million left of your $2 million. It completely freaks shot knowing you're probably not going to recover from that anytime soon, if at all, especially using for income and in your mind as a consumer, you probably only wanted about 5% risk, which means $100,000 loss versus an $800,000 loss. You know the damned. The problem we have in this entire industry is again we talk about risk a lot because we're trying to get build plants are going to work for the consumer. Plans that you can rely on plant at when you wake up every morning. You have a certain risk factor that you're going to feel comfortable. But And if you don't have those risk numbers in place, then whoever you're working with, hasn't done the proper job for you if you're getting ready to retire now, if you're 30 or 40 years old. Yes. That risk number doesn't matter as much because you have recovery time. You have 30 years in front of you to work. You have a salary coming in. But all of a sudden, you have a big mess. Take right. You worked all your life, 30 or 40 years. You got the big part of money. And if you lose a big chunk, because you're not paying attention, and your advice, you're not paying attention and just calling your advisor and have them say you're going to be just fine isn't good enough. It's not his money is your money. You are the Stewart of your money. And you better be aware of what Dan and I are talking about, because if you don't understand your risk In dollars and cents, not whether your conservative or moderate investor in dollars and cents, you may have a significant problem. The next crash yet we'll think about it. What if they're paying attention? And what if the advisor is actually paying attention? But they're paying attention to a whole different way to gauge your risk than what you as a consumer think. What if right now your advisor is a great adviser and paying attention to everything that's happening on a daily basis. They're moving the money around. They're talking stocks. They're talking tested. They're talking dodgy coin. Whatever that dumb dot You know, Dog point thing is they're talking about all these things. And yet their whole focus is in achieving the maximum rate of return, regardless of how much risk you're taking, And if the market falls 54%, you could lose 30, 40 or 50%, and you don't want to take that much risk. That means they are the advisor is doing their job. But it's not doing the job you need them to do. And you've got to look at that. There's there's several things to focus on and most likely for retirees is going to be. How do I reduce my risk at this point and not suffer large lesson? You can do that by creating the right portfolio? Yeah, and people think I'm gonna have to give up all my rate of return by doing that. You really don't have to. Will you give up a little rate of return? Yes, Possibly. But you don't have to give up all your way to return. What you have to do is make sure you don't lose a lot of lot of your money. Well, what did the stop with the stock market earn the S and P 500 index earned for the last 20 years. In 2000 about 4.58% per year. Matter of fact, I did an analysis for a client last week and he wanted he wanted me to know on the S and P 500 index. What happened over the last 10? 15 2021 years? I don't know. He wanted 21 years as well. That was some time in his mind. The average had been doing 4.5 and 4.8% rate of return annually on the S and P index Since those each one of those periods, not 10, or 12 or 15%. Yeah, there were some years you made 25%. But some years you lost 30%. And people think even last year, right? The market went down by 35%. In March of last year, March 23rd market Down 35%. The Dow was down 39%. Yes, people have recovered if you had equity exposure, But what if the government hadn't stepped in Dan? What if the governor had not started buying bonds and buying equities? This market would have slid another 20 or 30 points, and it would not have recovered. The waste recovered, but the government put a safety net there for everybody. And if they're not going to do that, every time, so you have to make sure you're controlling your answer. Just to make sure that doesn't happen to you Next time to market false If you like. What you hear on the show, Call us right now. We can help. You worked hard to get here. Did your best to save money. You want to protect your future? You want to avoid mistakes that could ruin your retirement.
KSFO-AM
"jim files" Discussed on KSFO-AM
"Is listening to Fox News. Now look a KSFO traffic, checking some of the slow traffic areas right now in Campbell 17 south bound between Camden Avenue in Santa Cruz Avenue. Stopped traffic very slow. 30 minutes to travel that distance. Further south on 17 in the Santa Cruz Mountains, south bound between Summit Road and Laurel Road, be prepared for stop and go Traffic in San Francisco one, the one South bound before Caesar Chavez to right lanes blocked by a two car crash. In the North Bay in Healdsburg, one of one North bound it dry Creek reports of a grass fire burning on the right hand shoulder. Ah, high wind advisory through the Altamont Pass it this time and on the Golden Gate and San Mateo Bridge is on Bart. No service between South Hayward and Union City stations through tomorrow, There's a bus bridge in place. Expect 2025 minute delays. We have KSFO traffic. I'm Mel Baker. Following show is paid for by peak Financial Freedom Group LLC. The views, opinions and beliefs expressed so those of Peak Financial Freedom Group LLC and don't necessarily reflect those of the staff management ownership of KGO ksfo, cumulus media or other partners. The following program is a paid promotion sponsored by Peak Financial Freedom Group. Welcome to the peak financial freedom, Our with Jim Files and Dan honored a peak financial freedom group. Way know many of the issues you're facing retirement.
KSFO-AM
"jim files" Discussed on KSFO-AM
"Hope here, joined by JIM Files and Dan Amit of Peak Financial Freedom Group. They are the co founders of Peak Financial serving you throughout the Greater Sacramento area with an office in Roseville and So often on the program. We talk about how important it is to have a written plan for retirement and to be well established for your retirement future and go into it armed with the right kind of plan, But Jim and Dan, I know that that's easier said than done. It's not a click of the fingers and everything happens. You guys have built guidelines you have built Structure around how this plan is supposed to happen, and I'm wonder if you could take a couple of minutes today kind of walk us through in more detail. What you're planning process is like what the philosophy is behind the planning process. Walter. We have Ah rules based system that we had here too at our firm, and we have seven very specific and exacting rules that we live by and developing every single financial plan for every single one of her clients. If you follow the seven rules, you have a super super high chant of being successful in retirement. And then why don't we talk about the first rule that we live by in developing a full financial plan? Well, Jim rule number one in our seven rules to live by for retirement. Security is always avoid large losses using what we call the golden rule of 5 to 10%. Well, that simply means is you must position your portfolio to make sure if we have another market downturn, a major market downturn like 4000 and two or 74,000, And when the market lost over 50% you need to make sure you don't have more than a 5% lost up to a maximum of 10% loss. Because imagine that you have $2 million in your portfolio and you go through one of those big losses and you lose 50%. Your $2 million goes down to a million, And you now must earn 100% on your million to get back up to even If instead we can reduce your potential risk down to 5%, the $2 million will still have a loss, but it will be reduced from a million dollar loss down to $100,000 lost Now, instead of only having a million dollars left in your $2 million portfolio, we have 1.9 million and to make them 1.9 million back up to two million. We only have to earn a 5.3% recovery gain, and it's how then you can get ahead. Suffering. A big loss will be the most devastating thing. To your retirement success. The second rule that we live by is what we call minimizing the fees inside your portfolio. You cannot get out of fees. When you're working in the financial industry. Whether you're managing your money yourself or you have a financial advisor. There are fees. There's a lot of things you don't see. We do a full analysis here. We call them the fee analysis we have outside third party resource is we use We take a client portfolio house configured whether stocks bonds, mutual funds or exchange traded funds. We hand this off to the research firm. They come back, and they tell us the exact thieves. Most clients think they're only paying their financial advisor of the adviser is only telling them what they're charging them and whether that's 1% or 1.5% of your portfolio value. That's what you think you're paying in fees, but that's not accurate. Every client it pain, additional fees over fees that you don't see inside your portfolio. For example, if you have mutual funds inside your portfolio, you're probably paying in excess of 3% in total fees to have your money. Manage. Yes, you're paying your financial advisor, possibly 1%. But when they're selecting mutual funds of mutual fund companies do not work for free. There's lots of people. Lot to computer and big buildings. You're paying another anywhere from 1 to 1.5%, typically with mutual fund fees. Inside those funds of mutual fund managers are buying and selling stocks or bonds to the course of the year. There's an internal trading cost that you don't see. The average internal trading cost of 1.44% annually. So if you add up just those three fees, and there's other fees as well, you could be paying 34 or 5% in fees. Dan What's the third rule that we live by in developing a portfolio number three is you must significantly reduce volatility because volatility will kill the opportunity for you to generate a significant amount of income that's guaranteed to last for as long as you live volatility will on Lee reduce your chances of success to retirement, So that's the goal making Or you don't go up and down the same amount that the stock market's going up and down. We have to overhaul your portfolio to minimize volatilities. How about number four? Jim is to earn a reasonable rate of return. Don't try to hit a home run in retirement. You're now in your sixties or seventies or possibly eighty's just earn a reasonable rate of return. We configure portfolios to make sure that you have an opportunity for growth, but we're about risk mitigation. We're going to de risk your portfolio so that you have less risk in which it means, Yes, you're gonna have probably Ah, lower way to return the new stock market. But it doesn't mean you can't earn a reasonable rate of return because the main goal in retirement is making sure your money is safe. Safety is the most compelling concern you should have in retirement. Don't lose your assets. We give you statistics all the time on these shows, because if you lose half your assets and your down 50%, you actually need 100% ready return just to get back to even you do not want to be in that position. So, Dan, what's the fifth rule? We live by and building a retirement income plan? It's managing taxation, understanding taxation, managing it, most importantly, knowing that you're not probably going to be in a high tax bracket when you retire. Let's say you generated $200,000 of gross income. In retirement. Most people think they're going to get killed with taxes when reality If you live in the state of California, you're going to pay about 18% in total taxes on your 200,000. That's going to be about 12% bedrooms, 6% State tax, not too high of attacks at all, and you're going to do well. You could take us much income is you want and you will not get killed with taxes by understand exactly of the tax code works. How about number six Jim Dandy Sick world we live by is generating income into retirement and a client only has two choices You can either generate what we call maybe income. That's income that's going to be generated off your portfolio interest dividends, growth, etcetera, or they can generate what we call certain income inclines Don't often there, Sam with that meat by certain income. There are financial instruments that we use and developing a portfolio that actually will give you certain income. It's guaranteed for as long as both you and your spouse live even if you live to 120 years of age. That means that that income coming off of that financial instrument is going to be there every single day every single month for as long as you live, it will never go down. It'll only potentially go up in value, depending on the product that we use. And of course you can use maybe income that's income coming off your portfolio. But when we designed an income plan, we're trying to design it specifically to what you're trying to achieve. And if you want a pension income stream Off your assets. There's way to do it, and it's called certain income. So Dan what's the seventh rule that we live by in retirement security, The seventh is the most important rule and that is heavy written retirement income plan. That will then tie everything about your money together. In a document, you will have a retirement income projection. Little show exactly how much income you're going to get every year for as long as you live and each year where each income source comes from. It will include a income tax projection. Little show as you increase your income to live the lifestyle you planned during retirement, How much tax you really pay, and you'll know exactly how much after tax monthly income you have to spend every month The third portion. That plan will be a beneficiary asset transfer analysis. Little show After you've used your ass.
KGO 810
"jim files" Discussed on KGO 810
"I want to restore hope here, joined by JIM Files and Dan Amit of Peak Financial Freedom Group. They are the co founders of Peak Financial serving you throughout the Greater Sacramento area with an office in Roseville and So often on the program. We talk about how important it is to have a written plan for retirement and to be well established for your retirement future and go into it armed with the right kind of plan, But Jim and Dan, I know that that's easier said than done. It's not a click of the fingers and everything happens. You guys have built guidelines. You have built a structure around how this plan is supposed to happen. And I'm wonder if you could take a couple of minutes today kind of walk us through in more detail. What you're planning process is like what the philosophy is behind the planning process. Walter, we have Ah rules based system that we had here too at our firm and we have seven very specific and exacting rules that we live by. And developing every single financial plan for every single one of her clients. If you follow these seven rules, do you have a super super high chant of being successful in retirement? And then why don't we talk about the first rule that we live by in developing a full financial plan? Well, Jim Rule number one in our seven rules to live by for retirement. Security is always avoid large losses using what we call the golden rule of 5 to 10%. Well, that simply means is you must position your portfolio to make sure if we have another market downturn, a major market downturn like 4000 and two or 74,000, and when the market lost over 50% you need to make sure you don't have more than a 5% lost up to a maximum. 10% loss. Because imagine that you have $2 million in your portfolio and you go through one of those big losses and you lose 50%. Your $2 million goes down to a million. And you now must earn 100% on your million to get back up to even If instead we can reduce your potential risk down to 5%, the $2 million will still have a loss, but it will be reduced from a million dollar loss down to 100,000 are lost now, instead of only having a million dollars left in your $2 million portfolio, we have 1.9 million and to make them 1.9 million back up to two million. We only have to earn a 5.3% recovery gain and it's how then you can get ahead. Suffering. A big loss will be the most devastating thing to your retirement success. The second rule that we live by is what we call minimizing the feet inside your portfolio. You cannot get out of fees. When you're working in the financial industry. Whether you're managing your money yourself or you have a financial advisor. There are fees. There's a lot of fish. You don't see. We do a full analysis here. We call them the fee analysis. We have outside third party resource is we use we take a client portfolio. How it's configured whether stock bond mutual funds or exchange traded funds. We hand this off to the research firm. They come back and tell us the exact fees. Most clients think they're only paying their financial advisor to the advisor is only telling them what they're charging them and whether that's 1% or 1.5% of your portfolio value. That's what you think you're paying in fees, But that's not accurate. Every client it pain, additional fees. Those are fees that you don't see inside your portfolio. For example, if you have mutual funds inside your portfolio You're probably paying in excess.
KGO 810
"jim files" Discussed on KGO 810
"Joined by JIM Files and Dan Amit of Peak Financial Freedom Group. They are the co founders of Peak Financial serving you throughout the Greater Sacramento area with an office in Roseville and So often on the program. We talk about how important it is to have a written plan for retirement and to be well established for your retirement future and go into it armed with the right kind of plan, but Jim and Dan. I know that that's easier said than done. It's not a click of the fingers and everything happens. You guys have built guidelines. You have built a structure around how this plan is supposed to happen. And I'm wonder if you could take a couple of minutes today. Gonna walk us through inm or detail. What you're planning process is like what the philosophy is behind the planning process. Walter, we have Ah rules based system that we adhere to at our firm and we have seven very specific and exacting rules that we live by and developing every single financial plan for every single one of her clients. If you follow these seven rules, you have a super super Hi chant of being successful in retirement. And then why don't we talk about the first rule that we live by in developing a full financial plan? Well, Jim rule number one in our seven rules to live by for retirement. Security is always avoid large losses using what we call the golden rule of 5 to 10%. Well, that simply means is you must position your portfolio to make sure if we have another market downturn, a major market downturn like 4000 and two or 74,000, And when the market lost over 50% you need to make sure you don't have more than A 5% lost up to a maximum of 10% loss. Because imagine that you have $2 million in your portfolio and you go through one of those big losses and you lose 50%. Your $2 million goes down to a million. And you now must earn 100% on your million to get back up to even If instead we can reduce your potential risk down to 5%, the $2 million will still have a loss, but it will be reduced from a million dollar loss down to 100,000 are lost now, instead of only having a million dollars left in your $2 million portfolio, we have 1.9 million and to make them 1.9 million back up to two million. We only have to earn a 5.3% recovery gain, and it's how then you can get ahead. Suffering. A big loss will be the most devastating thing. To your retirement success. The second rule that we live by is what we call minimizing the fees inside your portfolio. You cannot get out of fees. When you're working in the financial industry. Whether you're managing your money yourself or you have a financial advisor. There are fees. There's a lot of fish. You don't see we do a full analysis here. We call them the fee analysis we have outside third party resource is we use we take a client portfolio, how it's configured whether stocks bonds, mutual funds or exchange traded funds. We hand this off to the research firm. They come back, and they tell us the exact fees. Most clients think they're only paying their financial advisor comes. The adviser is only telling them what they're charging them and whether that's 1% or 1.5% of your portfolio value. That's what you think you're paying in fees, But that's not accurate. Every client it pain, additional fees. Those are fees that you don't see inside your portfolio. For example, if you have mutual funds inside your portfolio, you're probably paying in excess of 3% in total fees to have your money manage. Yes, you're paying your financial advisor, possibly 1%. But when they're selecting mutual funds of mutual fund companies do not work for free. There's lots of people. Lots of computer big buildings. You're paying another anywhere from 1 to 1.5%, typically with mutual fund fees. Inside those funds of mutual fund managers are buying and selling stocks or bonds to the course of the year. There's an internal trading cost that you don't see the average internal trading cost is 1.44% annually. So if you add up just so 3 ft. And there's other fees as well. You could be paying 34 or 5% in fees. Dan What's the third rule that we live by In developing a portfolio number three is you must significantly reduce volatility because volatility will kill the opportunity for you to generate a significant amount of income. Things guaranteed to last for as long as you live volatility will on Lee reduce your chances of success to retirement. So that's the goal, making sure you don't go up and down the same amount that the stock market's going up and down. We have to overhaul your portfolio to minimize volatilities. How about number four? Jim is to earn a reasonable rate of return. Don't try to hit a home run in retirement. You're now in your sixties or seventies or possibly eighties. Just earn a reasonable rate of return. We configure portfolios to make sure that you have an opportunity for growth. But we're about risk mitigation. We're going to de risk your portfolio so that you have less risk and what that means. Yes. You're gonna have probably Ah, lower way to return them the stock market, But it doesn't mean you can't earn a reasonable rate of return because the main goal of retirement is making sure your money is safe. Safety is the most compelling concern you should have in retirement. Don't lose your assets. We give you statistics all the time on these shows, because if you lose half your assets and your down 50%, you actually need 100% ready return just to get back to even you do not want to be in that position. So, Dan, what's the fifth rule? We live by and building a retirement income plan? It's managing taxation, understanding taxation, managing it, most importantly, knowing that you're not probably going to be in a high tax bracket when you retire. Let's say you generated $200,000 of gross income in retirement. Most people think they're going to get killed with taxes when in reality If you live in the state of California, you're gonna pay about 18% in total taxes on your 200,000. That's going to be about 12% bedroom 6% State tax, not too high of attacks at all. And you're going to do well, you could take us much income is you want and you will not get killed with taxes by understand exactly of the tax code works. How about number six Jim Dandy, sick world. We live by generating income into retirement and a client only has two choices. Neither generate what we call maybe income. That's income that's going to be generated off your portfolio interest dividends, growth, etcetera, or they can generate what we call certain income and clients don't often there, Sam. With that mean by certain income. There are financial instruments that we use and developing a portfolio that actually will give you certain income. It's guaranteed for as long as both you and your spouse live even if you live to 120 years of age. That means that that income coming off of that financial instrument is going to be there every single day every single month for as long as you live, it will never go down. It'll only potentially go up in value, depending on the product that we use. And of course you can use maybe income that's income coming off your portfolio. But when we designed an income plan, we're trying to design it specifically to what you're trying to achieve. And if you want a pension income stream Off your assets. There's a way to do it, and it's called certain income. So Dan what's the seventh rule that we live by in retirement security. The seventh is the most important rule and that is heavy written retirement income plan that will then tie everything about your money together. In a document, you will have a retirement income projections. It'll show exactly how much income you're going to get every year for as long as you live and each year where each income source comes from. It'll include a income tax projection. Little show as you increase your income to live the lifestyle you plan during retirement, How much tax you really pay, and you'll know exactly how much after tax monthly income you have to spend every month the third portion. That plan will be a beneficiary asset transfer analysis. Little show After you've used your ass that spring come for as long as you live, and after you've earned reasonable rates.
KSFO-AM
"jim files" Discussed on KSFO-AM
"Want to restore multi your joined by JIM Files and Dan Amit of Peak Financial Freedom Group. They are the co founders of Peak Financial serving you throughout the Greater Sacramento area with an office in Roseville and So often on the program. We talk about how important it is to have a written plan for retirement and to be well established for your retirement future and go into it armed with the right kind of plan, but Jim and Dan. I know that that's easier said than done. It's not a click of the fingers and everything happens. You guys have built guidelines. You have built a structure around how this plan is supposed to happen. And I'm wonder if you could take a couple of minutes today. Gonna walk us through inm or detail. What you're planning process is like what the philosophy is behind the planning process. Walter, we have Ah rules based system that we adhere to at our firm and we have seven very specific and exacting rules that we live by and developing every single financial plan for every single one of her clients. If you follow these seven rules, do you have a super Super Hi chant of being successful in retirement. And then why don't we talk about the first rule that we live by in developing a full financial plan? Well, Jim rule number one in our seven rules to live by former time security is always avoid large losses using what we call the golden rule of 5 to 10%. Well, that simply means as you must position your portfolio to make sure if we have another market downturn, a major market downturn like 4000 and two or 74,000, and when the market lost over 50% you need to make sure you don't have more than A 5% lost up to a maximum of 10% loss. Because imagine that you have $2 million in your portfolio and you go through one of those big losses and you lose 50%. Your $2 million goes down to a million. And you now must earn 100% on your million to get back up to even If instead we can reduce your potential risk down to 5%, the $2 million will still have a loss, but it will be reduced from a million dollar loss down to 100,000 are lost now, instead of only having a million dollars left in your $2 million portfolio, we have 1.9 million and to make them 1.9 million back up to two million. We only have to earn a 5.3% recovery gain, and it's how then you can get ahead. Suffering. A big loss will be the most devastating thing. To your retirement success. The second rule that we live by is what we call minimizing the fees inside your portfolio. You cannot get out of fees. When you're working in the financial industry. Whether you're managing your money yourself or you have a financial advisor. There are fees. There's a lot of fish. You don't see we do a full analysis here. We call them the fee analysis we have outside third party resource is we use we take a client portfolio, how it's configured whether stocks bonds, mutual funds or exchange traded funds. We hand this off to the research firm, they come back, and they tell us the exact fees. Most clients think they're only paying their financial advisor of the adviser is only telling them what they're charging them and whether that's 1% or 1.5% of your portfolio value. That's.
KGO 810
"jim files" Discussed on KGO 810
"I want to restore multiyear, joined by JIM Files and Dan Amit of Peak Financial Freedom Group. They are the co founders of Peak Financial serving you throughout the Greater Sacramento area with an office in Roseville and So often on the program. We talk about how important it is to have a written plan for retirement and to be well established for your retirement future and go into it armed with the right kind of plan, but Jim and Dan. I know that that's easier said than done. It's not a click of the fingers and everything happens. You guys have built guidelines. You have built a structure around how this plan is supposed to happen. And I'm wonder if you could take a couple of minutes today. Gonna walk us through inm or detail. What you're planning process is like what the philosophy is behind the planning process. Walter, we have Ah rules based system that we adhere to at our firm and we have seven very specific and exacting rules that we live by and developing every single financial plan for every single one of her clients. If you follow these seven rules, do you have a super Super Hi chant of being successful in retirement. And then why don't we talk about the first rule that we live by in developing a full financial plan? Well, Jim rule number one in our seven rules to live by for overtime. Security is always avoid large losses using what we call the golden rule of 5 to 10%. Well, that simply means is you must position your portfolio to make sure if we have another market downturn, a major market downturn like 4000 and two or 74,000, And when the market lost over 50% you need to make sure you don't have more than A 5% lost up to a maximum of 10% loss. Because imagine that you have $2 million in your portfolio and you go through one of those big losses and you lose 50%. Your $2 million goes down to a million. And you now must earn 100% on your million to get back up to even if instead we can reduce your potential risk down to 5%. The $2 million will still have a loss. But it will be reduced from a million dollar loss down to 100,000 are lost now, instead of only having a million dollars left in your $2 million portfolio, we have 1.9 million and to me Take that 1.9 million back up to two million. We only have to earn a 5.3% recovery gain, and it's how then you can get ahead. Suffering. A big loss will be the most devastating thing to your retirement success. The second rule that we live by is what we call minimizing the fees inside your portfolio. You cannot get out of fees. When you're working in the financial industry. Whether you're managing your money yourself or you have a financial advisor. There are fees. There's a lot of fish. You don't see we do a full analysis here. We called it a fee analysis. We have outside third party resource is.
KSFO-AM
"jim files" Discussed on KSFO-AM
"Number zero and 14013. I want her struggle to your joined by JIM Files and Dan Amit of Peak Financial Freedom Group. They are the co founders of Peak Financial serving you throughout the Greater Sacramento area with an office in Roseville and So often on the program. We talk about how important it is to have a written plan for retirement and to be well established for your retirement future and go into it armed with the right kind of plan, but Jim and Dan. I know that that's easier said than done. It's not a click of the fingers and everything happens. You guys have built guidelines. You have built a structure around how this plan is supposed to happen. And I'm wonder if you could take a couple of minutes today. Gonna walk us through inm or detail. What you're planning process is like what the philosophy is behind the planning process. Walter, we have Ah rules based system that we adhere to at our firm and we have seven very specific and exacting rules that we live by and developing every single financial plan for every single one of her clients. If you follow these seven rules, do you have a super Super Hi chant of being successful in retirement. And then why don't we talk about the first rule that we live by in developing a full financial plan? Well, Jim rule number one in our seven rules to live by former time security is always avoid large losses using what we call the golden rule of 5 to 10%. Well, that simply means is you must position your portfolio to make sure if we have another market downturn, a major market downturn like 4000 and two or 74,000, and when the market lost over 50% You need to make sure you don't have more than a 5% lost up to a maximum of 10% loss. Because imagine that you have $2 million in your portfolio and you go through one of those big losses and you lose 50%. Your $2 million goes down to a million. And you now must earn 100% on your million to get back up to even If instead we can reduce your potential risk down to 5%, the $2 million will still have a loss, but it will be reduced from a million dollar loss down to 100,000 are lost now, instead of only having a million dollars left in your $2 million portfolio, we have 1.9 million and to make them 1.9 million back up to two million. We only have to earn a 5.3% recovery gain, and it's how then you can get ahead. Suffering. A big loss will be the most devastating thing. To your retirement success. The second rule that we live by is what we call minimizing the fees inside your portfolio. You cannot get out of fees. When you're working in the financial industry. Whether you're managing your money yourself or you have a financial advisor. There are fees. There's a lot of fish. You don't see we do a full analysis here. We call them the fee analysis we have outside third party resource is we use we take a client portfolio, how it's configured whether stocks bonds, mutual funds or exchange traded funds. We hand this off to the research firm, they come back, and they tell us the exact fees. Most clients think they're only paying their financial advisor to the advisor is only telling them what they're charging them and whether that's 1% or 1.5% of your portfolio value. That's what you think you're paying in fees, but that's not accurate. Every client it pain, additional fees. Those are fees that you don't see inside your portfolio. For example, if you have mutual funds inside your portfolio, you're probably paying in excess of 3% in total fees to have your money. Manage. Yes, you're paying your financial advisor, possibly 1%. But when they're selecting mutual funds of mutual fund companies do not work.
KGO 810
"jim files" Discussed on KGO 810
"Joined by JIM Files and Dan Amit of Peak Financial Freedom Group. They are the co founders of Peak Financial serving you throughout the Greater Sacramento area with an office in Roseville and So often on the program. We talk about how important it is to have a written plan for retirement and to be well established for your retirement future and go into it armed with the right kind of plan, But Jim and Dan, I know that that's easier said than done. It's not a click of the fingers and everything happens. You guys have built guidelines you have built Structure around how this plan is supposed to happen, and I'm wonder if you could take a couple of minutes today kind of walk us through inm or detail. What you're planning process is like what the philosophy is behind the planning process. Walter. We have Ah rules based system that we adhere to at our firm and we have seven very specific and exacting rules that we live by and developing every single financial plan for every single one of her clients. If you follow the seven rules, you have a super super high chance of being successful in retirement. And then why don't we talk about the first rule that we live by in developing a full financial plan? Well, Jim Rule number one in our seven rules to live by for overtime. Security is always avoid large losses using what we call the golden rule of 5 to 10%. Well, that simply means is you must position your portfolio to make sure if we have another market downturn, a major market downturn like 4000 and two or 74,000, And when the market lost over 50% you need to make sure you don't have more than a 5% lost up to a maximum of 10% loss. Because imagine that you have $2 million in your portfolio and you go through one of those big losses and you lose 50%. Your $2 million goes down to a million, And you now must earn 100% on your million to get back up to even If instead we can reduce your potential risk down to 5%, the $2 million will still have a loss. But it will be reduced from a million dollar loss down to 100,000 are lost now, instead of only having a million dollars left in your $2 million portfolio, we have 1.9 million and to make them 1.9 million back up to two million. We only have to earn a 5.3% recovery gain. And it's how then you can get ahead. Suffering. A big loss will be the most devastating thing to your retirement success. The second rule that we live by is what we call minimizing the feet inside your part four Leo. You cannot get out of fees. When you're working in the financial industry. Whether you're managing your money yourself or you have a financial advisor. There are fees. There's a lot of fish. You don't see. We do a full analysis here. We call them the fee analysis. We have outside third party resource is we use we take a client portfolio. How it's configured whether stock bond mutual funds or exchange traded funds. We hand this off to the research firm. They come back, and they tell us the exact fees. Most clients think they're only paying their financial advisor to the advisor is only telling them what they're charging them and whether that's 1% or 1.5% of your portfolio value. That's what you think you're paying in fees, But that's not accurate. Every client it pain, additional fees. Those are fees that you don't see inside your portfolio. For example, if you have mutual funds inside your portfolio You're probably paying in excess of 3% in total fees to have your money. Manage. Yes, you're paying your financial advisor, possibly 1%. But when they're selecting mutual funds of mutual fund companies do not work for free. There's lots of people. Lots of computers, big buildings, you're paying another anywhere from 1 to 1.5%, typically with mutual fund fees. Inside those funds of mutual fund managers are buying and selling stocks or bonds to the course of the year. There's an internal trading cost that you don't see the average internal trading cost of 1.44% annually. So if you add up just so 3 ft. And there's other fees as well. You could be paying 34 or 5% in fees. Dan What's the third rule that we live by In developing a portfolio number three is you must significantly reduced volatility because volatilities will kill the opportunity for you to generate a significant amount of income. That's guaranteed to last for as long as you live volatility will on Lee reduce your chances of success to retirement. So that's the goal, making sure you don't go up and down the same amount that the stock market's going up and down. We have to overhaul your portfolio to minimize volatilities. How about number four? Jim is to earn a reasonable rate of return. Don't try to hit a home run in retirement. You're now in your sixties or seventies or possibly eighties. Just earn a reasonable rate of return. We configure portfolios to make sure that you have an opportunity for growth. But we're about risk mitigation. We're going to de risk your portfolio so that you have less risk and what that means. Yes. You're gonna have probably Ah, lower way to return than the stock market. But it doesn't mean you can't earn a reasonable rate of return because the main goal in retirement is making sure your money is safe. Safety is the most compelling concern you should have in retirement. Don't lose your assets. We give you statistics all the time on these shows, because if you lose half your assets and your down 50%, you actually need 100% ready return just to get back to even you do not want to be in that position. So, Dan, what's the fifth rule? We live by and building a retirement income plan? It's managing taxation, understanding taxation, managing it, most importantly, knowing that you're not probably going to be in a high tax bracket when you retire. Let's say you generated $200,000 of gross income in retirement. Most people think they're going to get killed with taxes when in reality If you live in the state of California, you're gonna pay about 18% in total taxes on your 200,000. That's going to be about 12% Federal in 6% State tax, Not too high of attacks at all. And you're going to do well, you could take his much income is you want and you will not get killed with taxes by understand exactly how the tax code works. How about number six Jim Dandy, Sick world We live by generating income into retirement and a client only has two choices You can either generate what we call maybe income. That's income that's going to be generated off your portfolio interest dividends, growth, etcetera, or they can generate what we call certain income and clients don't often there, Sam with that meat by certain income. There are financial instruments that we use and developing a portfolio that actually will give you certain income. It's guaranteed for as long as both you and your spouse live even if you live to 120 years of age. That means that that income coming off of that financial instrument is going to be there every single day every single month for as long as you live, it will never go down. It'll only potentially go up in value, depending on the product that we use. And of course you can use maybe income that's income coming off your portfolio. But when we designed an income plan, we're trying to design it specifically to what you're trying to achieve. And if you want a pension income stream off your assets, there's a way to do it, and it's called certain income. So Dan what's the seventh rule that we live by in retirement security, The seventh is the most important rule and that is heavy written retirement income plan. That will then tie everything about your money together in the document, you will have a retirement income projection. Little show exactly how much income you're going to get every year for as long as you live and each year where each income source comes from. It will include a income tax projection. Little show as you increase your income to live the lifestyle you plan during retirement, How much tax you really pay, and you'll know exactly how much after tax monthly income you have to spend every month The third portion. That plan will be a beneficiary asset transfer analysis..
KSFO-AM
"jim files" Discussed on KSFO-AM
"I want to storm out here, joined by JIM Files and Dan Amit of Peak Financial Freedom Group. They are the co founders of Peak Financial serving you throughout the Greater Sacramento area with an office in Roseville and So often on the program. We talk about how important it is to have a written plan for retirement and to be well established for your retirement future and go into it. Armed With the right kind of plan, But Jim and Dan I know that that's easier said than done. It's not a click of the fingers and everything happens. You guys have built guidelines. You have built a structure around how this plan is supposed to happen. And I'm wonder if you could take a couple of minutes today. Gonna walk us through inm or detail. What you're planning process is like what the philosophy is behind the planning process. Walter, we have Ah rules based system that we adhere to at our firm and we have seven very specific and exacting rules that we live by and developing every single financial plan for every single one of her clients. If you follow these seven rules, do you have a super Super Hi chant of being successful in retirement. And then why don't we talk about the first rule that we live by in developing a full financial plan? Well, Jim rule number one in our seven rules to live by former time security is always avoid large losses using what we call the golden rule of 5 to 10%. But that simply means as you must position your portfolio to make sure if we have another market downturn, a major market downturn like 4000 and two or 74,000, And when the market lost over 50% you need to make sure you don't have more than A 5% lost up to a maximum of 10% loss. Because imagine that you have $2 million in your portfolio and you go through one of those big losses and you lose 50%. Your $2 million goes down to a million. And you now must earn 100% on your million to get back up to even if instead we can reduce your potential risk down to 5%. The $2 million will still have a loss, but it will be reduced. From a million dollar loss down to 100,000 are lost now, instead of only having a million dollars left in your $2 million portfolio, we have 1.9 million and to make them 1.9 million back up to two million. We only have to earn a 5.3% recovery gain, and it's how then you can get ahead. Suffering. A big loss will be the most devastating thing to your retirement success. The second rule that we live by is what we call minimizing the fees inside your portfolio. You cannot get out of fees when you're working in the financial industry. Whether you're managing your money yourself or you have a financial advisor. There are fees. There's a lot of fish. You don't see We do a full analysis here. We call them. The fee analysis we have outside third party resource is we use we take a client portfolio, how it's configured whether stocks bonds, mutual funds or exchange traded funds. We hand this off to the research firm, they come back, and they tell us the exact fees. Most clients think they're only paying their financial advisor to the advisor is only telling them what they're charging them and whether that's 1% or 1.5% of your portfolio value. That's what you think you're paying in fees, but that's not accurate. Every client it pain, additional fees. Those are feet that you don't see inside your portfolio. For example, if you have mutual funds inside your portfolio, you are probably pain in excess of 3% in total fees to have your money. Manage. Yes, you're paying your financial advisor, possibly 1%. But when they're selecting mutual funds of mutual fund companies do not work for free. There's lots of people. Not to computer and big buildings. You're paying another anywhere from 1 to 1.5%, typically, with mutual fund fees. Inside those funds of mutual fund managers are buying and selling stocks or bonds to the course of the year. There's an internal trading cost that you don't see the average internal trading cost of 1.44% annually. So if you add up just though, three fees, and there's other fees as well, you could be paying 34 or 5% in fees. And what's the third rule that we live by in developing a portfolio number three is you must significantly reduced volatility because volatilities will kill the opportunity for you to generate a significant amount of income that's guaranteed to last for as long as you live volatility will on Lee reduce your chances of success to retirement. So that's the goal, making sure you don't go up and down the same amount that the stock market's going up and down. We have to overhaul your portfolio to minimize volatilities. How about number four? Jim is to earn a reasonable rate of return. Don't try to hit The home run and retirement. You're now in your sixties or seventies or possibly eighty's just earn a reasonable rate of return. We configure portfolios to make sure that you have an opportunity for growth. But we're about risk mitigation. We're going to de risk your portfolio so that you have less risk in which it meets. Yes, you're going to have probably Ah, lower way to return them the stock market, But it doesn't mean you can't earn a reasonable rate of return because the main goal of retirement is making sure your money is safe. Safety is the most compelling concern you should have in retirement. Don't lose your assets. We give you statistics all the time on these shows, because if you lose half your assets and your down 50%, you actually need 100% ready return just to get back to even you do not want to be in that position. So, Dan, what's the fifth rule? We live by and building a retirement income plan? It's managing taxation, understanding taxation, managing it, most importantly, knowing that you're not probably going to be in a high tax bracket when you retire. Let's say you generated $200,000 of gross income in retirement. Most people think they're going to get killed with taxes when in reality If you live in the state of California, you're gonna pay about 18% in total taxes on your 200,000. That's going to be about 12% federal in 6% State tax, not too high of attacks at all, and you're going to do well. You could take us much income is you want and you will not get killed with taxes by understand exactly how the tax code works. Have a number six. Jim and a sick world We live by is generating income into retirement and a client only has two choices You can either generate what we call maybe income. That's income that's going to be generated off your portfolio interest, dividends, growth, etcetera, or they can generate what we call certain income and clients don't often there, Sam with that meat by certain income. There are financial instruments that we use and developing a portfolio that actually will give you certain income. It's guaranteed for as long as both you and your spouse live. Even if you live to 120 years of age. That means that that income coming off of that financial instrument is going to be there every single day every single month for as long as you live, it will never go down..
NewsRadio KFBK
"jim files" Discussed on NewsRadio KFBK
"Today for Jim Files, and Dan Ahmed. I'm Walter store Holt and we'll talk to you next time right back here On the peak Financial freedom, our with Jim and Dan Investment visor, representatives of an advisory services offered through Fiduciary Solutions LLC. Registered investing Advisor Peak. Financial Freedom Group LLC is primarily a fixed insurance sales organization and provides no advisory services. Pfft Insurance Agency LLC is a licensed insurance agency and provides no advisory services. Pick. Financial Freedom Group LLC, Pfft Insurance Agency LLC and Fiduciary Solutions LLC are separate affiliated entities. Pff G Insurance Agency, California License 0914013. Jim Files, California License zero F 06511 and Dan Ahmed California license 0732913. All information provided is for general education, an informational purposes only and does not. Constitute an offer or solicitation for the sale or purchase of any securities, investment, investment refugees or insurance products. Information is impersonal and not intended to give you specific tax, investment, real estate, legal, state, financial or career advice, Your losses, fees, income and or growth could be higher or lower past performance is not indicative of, nor does it guarantee future results. All investment involve risk can involve the loss of principal and unless otherwise stated, are not guaranteed risk mitigation strategies do not guarantee risk reduction. Milady. Guarantees are backed by the financial strength and claims paying ability of issuing insurance company and are not FBI. See, insured. If you place assets under management with our firm, we are paid an advisory fee. And if you purchase an annuity from our firm, we are paid commissions from insurance company. All information is furnished with the understanding that the authors and publishers are not engaged in rendering legal real estate, accounting, estate, investment, tax, financial, retirement or other professional advice or services through this program, consult with qualified investment tax legal andl retirement advisers before making any financial decisions. The preceding program is a paid promotion sponsored by Pete Financial Freedom Group. Don't let covert 19 stop you from choosing a proven.
KGO 810
"jim files" Discussed on KGO 810
"By JIM Files and Dan Amit of Peak Financial Freedom Group. They are the co founders of Peak Financial Serving you throughout the Greater Sacramento area with an office in Roseville and so often on the program. We talk about how important it is to have a written plan for retirement and to be well established for your retirement future and go into it armed with the right kind of plan, But Jim and Dan, I know that that's easier, said Then done. It's not a click of the fingers and everything happens. You guys have built guidelines. You have built a structure around how this plan is supposed to happen. And I'm wonder if you could take a couple of minutes today. Gonna walk us through inm or detail. What you're planning process is like what the philosophy is behind the planning process. Walter, we have Ah rules based system that we adhere to at our firm and we have seven very specific and exacting rules that we live by and developing every single financial plan for every single one of her clients. If you follow these seven rules, you have a super super Hi chant of being successful in retirement. And then why don't we talk about the first rule that we live by in developing a full financial plan? Well, Jim rule number one in our seven rules to live by former time security is always avoid large losses using what we call the golden rule of 5 to 10%. Well, that simply means is you must position your portfolio to make sure if we have another market downturn, a major market downturn like 4000 and two or 74,000, And when the market lost over 50% you need to make sure you don't have more than A 5% lost up to a maximum of 10% loss. Because imagine that you have $2 million in your portfolio and you go through one of those big losses and you lose 50%. Your $2 million goes down to a million. And you now must earn 100% on your million to get back up to even If instead we can reduce your potential risk down to 5%, the $2 million will still have a loss, but it will be reduced from a million dollar loss down to 100,000 are lost now, instead of only having a million dollars left in your $2 million portfolio, we have 1.9 million and to make them 1.9 million back up to two million. We only have to earn a 5.3% recovery gain, and it's how then you can get ahead. Suffering. A big loss will be the most devastating thing. To your retirement success. The second rule that we live by is what we call minimizing the fees inside your portfolio. You cannot get out of fees. When you're working in the financial industry. Whether you're managing your money yourself or you have a financial advisor. There are fees. There's a lot of fish. You don't see we do a full analysis here. We called it a fee analysis. We have outside third party resource is we use we take a client portfolio. How it's configured whether stock bond mutual funds or exchange traded funds. We hand this off to the research firm. They come back, and they tell us the exact fees. Most clients think they're only paying their financial advisor to the advisor is only telling them what they're charging them and whether that's 1% or 1.5% of your portfolio value. That's what you think you're paying in fees, but that's not accurate. Every client it pain, additional fees. Those are fees that you don't see inside your portfolio. For example, if you have mutual funds inside your portfolio, you're probably paying in excess of 3% in total fees to have your money. Manage. Yes, you're paying your financial advisor, possibly 1%. But when they're selecting mutual funds of mutual fund companies do not work for free. There's lots of people. Lot to computer and big buildings. You're paying another anywhere from 1 to 1.5%, typically with mutual fund fees. Inside those funds of mutual fund managers are buying and selling stocks or bonds to the course of the year. There's an internal trading cost that you don't see the average internal trading cost of 1.44% annually. So if you add up just though, 3 ft, and there's other fees as well, you could be paying 34 or 5% in fees. And what's the third rule that we live by in developing a portfolio number three is you must significantly reduce volatility because volatilities will kill the opportunity for you to generate a significant amount of income that's guaranteed to last for as long as you live volatility will on Lee reduce your chances of success to retirement. So that's the goal, making sure you don't go up and down the same amount that the stock market's going up and down. We have to overhaul your portfolio to minimize volatilities. How about number four? Jim is to earn a reasonable rate of return. Don't try to hit The home run in retirement. You're now in your sixties or seventies or possibly eighty's just earn a reasonable rate of return. We configure portfolios to make sure that you have an opportunity for growth. But we're about risk mitigation. We're going to de risk your portfolio so that you have less risk and what that means. Yes, you're gonna have probably Ah, lower way to return than the stock market. But it doesn't mean you can't earn a reasonable rate of return because the main goal of retirement is making sure your money is safe. Safety is the most compelling concern you should have in retirement. Don't lose your assets. We give you statistics all the time on these shows, because if you lose half your assets and your down 50%, you actually need 100% ready return just to get back to even you do not want to be in that position. So, Dan, what's the fifth rule? We live by and building a retirement income plan? It's managing taxation, understanding taxation, managing it, most importantly, knowing that you're not probably going to be in a high tax bracket when you retire. Let's say you generated $200,000 of gross income in retirement. Most people they were going to get killed with taxes when in reality If you live in the state of California, you're going to pay about 18% in total taxes on your 200,000. That's going to be about 12% Federal in 6% State tax, not too high of attacks at all, and you're going to do well. You could take us much income is you want and you will not get killed with taxes by understand exactly how the tax code works. Have a number six. Jim 26. Whether we live by is generating income into retirement and a client only has two choices You can either generate what we call maybe income. That's income that's going to be generated off your portfolio interest dividends, growth, etcetera, or they can generate what we call certain income and clients don't often understand what that means By certain income. There are financial instruments that we use and developing a portfolio that actually will give you certain income. It's guaranteed for as long as both you and your spouse live. Even if you live to 120 years of age. That means that that income coming off of that financial instrument is going to be there every single day every single month for as long as you live, it will never go down. It'll only potentially go up in value, depending on the product that we use. And of course you can use maybe income that's income coming off your portfolio. But when we designed an income plan, we're trying to design it specifically to what you're trying to achieve. And if you want a pension income stream off your assets, there's a way to do it, and it's called certain income. So Dan what's the seventh rule that we live by in retirement security, The seventh is the most important rule and that is heavy written retirement income plan. That will then tie everything about your money together. In a document, you will have a retirement income projection. Little show exactly how much income you're going to get every year for as long as you live and each year where each income source comes from. It will include a income tax projection. Little show as you increase your income to live the lifestyle you plan during retirement, How much tax you really pay, and you'll know exactly how much after tax monthly income you have to spend every month The third portion. That plan will be a beneficiary asset transfer Analysis..
KSFO-AM
"jim files" Discussed on KSFO-AM
"Freedom, Our with Jim Files and Dan Almond of Deep Financial Freedom Group. Remember if you have any questions or want to get a complimentary review of your financial plan, pick up your cell phone and dial the number pound 2 50 say the keyword money again dial pound to 50 on your cell phone and say the keyword money. Let's turn it back over to Jim and Dan. Gym. Today. We are trying to get some of the truths out to people and make sure you can handle the truth because you've been told a lot of things that we don't feel are necessarily accurate. So one of them is you've been told forever. Mutual funds are safer than stocks. And you have to look at what happened. Mutual fund you have if the bond mutual fund that it might have less risky stocks, But if it does a stock mutual fund with an index 500 fund and NASDAQ funded AL Fund if it's a growth fund, the balanced fund with an international fund emerging more Confined. All those those are gonna be equity types investments inside of the mutual fund, which means you're buying stocks. So a Mitchell on the buy stocks. Is that then by definition going to be less risky than stocks. No, I mean, it's gonna have seen level risk. Yes, it'll have more positions will have more companies. But you have more stock position. Two more companies, so you still have Unequal amount of risk. How many people you think out there have been told. Oh, mutual funds are a lot less risky in the stocks. Advisers typically tell their clients that which is not true. It's a stocked it just, you know. Ah, lot of stocks under one umbrella. That's all that is. Have you ever seen a mutual fund or exchange traded fund show? A 12 month loss of 40% 50%, 60% or even over 70%? Yes, I mean, if you go back to show 0708 No. Nine or 2001 into the tech bubble You had if you want just the S and P Right 500 of the biggest companies in North America. The SNP was down 53%. If you had a small cap stock, you could have been on 60 or 70%. Maybe on the international stock. It could've bound down 70 75%. So, yes, we see and have seen prices of stocks go down significantly. So the truth there is that if you have a mutual fund, and then it goes down and you go, gosh, how connected to go down that much is because it was invested in stocks in the market went down. You just have to accept that. What goes hand in hand with that as another truth. And that is your told that if you have a portfolio of a large number of mutual funds it substantial. Reduce your risk through diversification. Well, let's look at what if you have 20 different mutual funds, and let's say it's made up of 16 stock funds and four bond funds and your 80% stock mutual funds 20% bond mutual funds. It looks great. Looks like a beautiful pie chart. What's gonna happen to that portfolio when most likely when the market crashes 40 or 50% isn't going to be so diversified that you're not gonna lose one Penny? No, not at all, because many did meet your funds owned the same position. Take Tesla, for example. Well, Tesla ends up in all kinds of different portfolios right? Because it's a tech stock. It's a clean injury shock is considered solar. So it kind of depends on the focus of the of the mutual fund it picking up Tesla and you might own Tesla and others types of stocks. Whereby of those talks, which you know they have a lot of risk to them. They go up and they go down. It will affect all your portfolios whereby you think you on Leone just a related subject within that portfolio you don't you own. You have overlap when there's pretty much proof. If you look at then what happens when the market goes down, whether it's 2000 to 78, 2009 or and even in 2000 and 20 on, do you look at the market went down and you have this diversified portfolio mutual funds, and if it went down substantially, then it shows that you still had risk in that, so you just have to understand that that's just one of the truths to understand that we like. To make a better decision. How about this one? A lot of people are told that they're only paying a total of 1% in fees on their total assets that are being managed by their adviser. And if questioned about their mutual fund cost, additional training cost additional hidden cost management costs, etcetera, the advisers, typical say No, The only for you're paying is 1%. And someone has an adviser where they're paying a management fee. Is that going to be necessarily true? If you have mutual funds, or you if you have the exchange traded funds European more than 1%, your example because these mutual fund companies, regardless of what your advice or may have told you don't work for free. They're big funds, even if it says no load. It doesn't matter. You still have an expense ratio in that fund. You have trading costs, and you could have other miscellaneous fees. So if you're really not sure what to do will help coach you through it for over 50 combined years we've been helping people just like you make the best decisions about their money were some of the top retirement income planet. In the United States, and we would be proud to mentor you. If you're serious about your retirement. Call us right away. Our clients are very serious about saving money for retirement and typically have between one million to $7 million in assets, not including the real estate. If you haven't least $500,000 in assets will meet with you and give you a free no obligation. Second opinion about your money. We'll talk about what you want to happen with your money Designer Risk reduction plan to eliminate all big stock market losses and never go through another 2008 again help you decide how much income you need and where it's going to come.
KGO 810
"jim files" Discussed on KGO 810
"Our team today called Pound 2 50 say the keyword money that's pound 2 50 the key word money. We want to make memories with you get started by calling Pound 2 50 when prompted, say the key word money. I want her storm will tear joined by JIM Files and Dan Amit of Peak Financial Freedom Group. They are the co founders of Peak Financial serving you throughout the Greater Sacramento area with an office in Roseville and so often on the program, we talk about how important it is to have a written plan for retirement and to be well established for your retirement future. And go into it armed with the right kind of plan, But Jim and Dan I know that that's easier said than done. It's not a click of the fingers and everything happens. You guys have built guidelines. You have built a structure around how this plan is supposed to happen. And I'm wonder if you could take a couple of minutes today. Gonna walk us through inm or detail. What you're planning process is like what the philosophy is behind the planning process. Walter, we have Ah rules based system that we adhere to at our firm and we have seven very specific and exacting rules that we live by and developing every single financial plan for every single one of her clients. If you follow these seven rules, do you have a super Super Hi chant of being successful in retirement. And then why don't we talk about the first rule that we live by in developing a full financial plan? Well, Jim rule number one in our seven rules to live by former time security is always avoid large losses using what we call the golden rule of 5 to 10%. Well, that simply means is you must position your portfolio to make sure if we have another market downturn, a major market downturn like 4000 and two or 74,000, And when the market lost over 50% you need to make sure you don't have more than A 5% loss up to a maximum of 10% loss. Because imagine that you have $2 million in your portfolio and you go through one of those big losses and you lose 50%. Your $2 million goes down to a million. And you now must earn 100% on your million to get back up to even If instead we can reduce your potential risk down to 5%, the $2 million will still have a loss, but it will be reduced from a million dollar loss down to 100,000 are lost now, instead of only having a million dollars left in your $2 million portfolio, we have 1.9 million and to make them 1.9 million back up to two million. We only have to earn a 5.3% recovery gain, and it's how then you can get ahead. Suffering. A big loss will be the most devastating thing. To your retirement success. The second rule that we live by is what we call minimizing the fees inside your portfolio. You cannot get out of fees. When you're working in the financial industry. Whether you're managing your money yourself or you have a financial advisor. There are fees. There's a lot of fish. You don't see. We do a full analysis here. We call them the fee analysis. We have outside third party resource is we use we take a client portfolio. How it's configured whether stock bond mutual funds or exchange traded funds. We hand this off to the research firm. They come back, and they tell us the exact fees. Most clients think they're only paying their financial advisor of the adviser is only telling them what they're charging them and whether that's 1% or 1.5% of your portfolio value. That's what you think you're paying in fees, But that's not accurate. Every client it pain, additional fees. Those are fees that you don't see inside your portfolio. For example, if you have mutual funds inside your portfolio You're probably paying in excess of 3% in total fees to have your money. Manage. Yes, you're paying your financial advisor, possibly 1%. But when they're selecting mutual funds of mutual fund companies do not work for free. There's lots of people. Lots of computers, big buildings, you're paying another anywhere from 1 to 1.5%, typically with mutual fund fees. Inside those funds of mutual fund managers are buying and selling stocks or bond to the course of the year. There's an internal trading cost that you don't see the average internal trading cost of 1.44% annually. So if you add up just so 3 ft. And there's other fees as well. You could be paying 34 or 5% in fees. Dan What's the third rule that we live by in developing a portfolio number three is you must significantly reduce volatility because volatilities will kill the opportunity for you to generate a significant amount of income that's guaranteed to last for as long as you live volatility will on Lee reduce your chances of success to retirement. So that's the goal, making sure you don't go up and down the same amount that the stock market's going up and down. We have two over Call your portfolio to minimize volatilities. How about number four? Jim is to earn a reasonable rate of return. Don't try to hit a home run in retirement. You're now in your sixties or seventies or possibly eighty's just earn a reasonable rate of return. We configure portfolios to make sure that you have an opportunity for growth. But we're about risk mitigation. We're going to de risk your portfolio so that you have less risk in which it meets. Yes. You're gonna have probably Ah, Lower way to return them the stock market, But it doesn't mean you can't earn a reasonable ready, bitch. Earned because the main goal of retirement is making sure your money is safe. Safety is the most compelling concern you should have in retirement. Don't lose your assets. We give you statistics all the time on these shows, because if you lose half your assets and your down 50%, you actually need 100% ready return just to get back to even you do not want to be in that position. So, Dan, what's the fifth rule? We live by and building a retirement income plan? It's managing taxation, understanding taxation, managing it most importantly, knowing that you're not probably going to be in a high tax bracket when you retire. Let's say you generated $200,000 of gross income in retirement. Most people think they're going to get killed with taxes when in reality If you live in the state of California, you're gonna pay about 18% in total taxes on your 200,000. That's going to be about 12% Federal in 6% State tax, Not too high of attacks at all. And you're going to do well. You could take us much income is you want and you will not get killed with taxes by understand. Exactly the tax code works. How about number six Jim Dandy, six world we live by is generating income into retirement and a client only has two choices You can either generate what we call maybe income. That's income that's going to be generated off your portfolio interest, dividends, growth, etcetera, or they can generate what we call certain income and clients don't often there, Sam with that meat by certain income. There are financial instruments that we use and developing a portfolio that actually will give you certain income. It's guaranteed for as long as both you and your spouse live. Even if you live to 120 years of age. That means that that income coming off of that financial instrument is going to be there every single day every single month for as long as you live, it will never go down. It'll only potentially go up in value, depending on the product that we use. And of course you can use maybe income that's income coming off your portfolio. But when we designed an income plan, we're trying to design it specifically to what you're trying to achieve. And if you want a pension income stream off your assets, there's a way to do it, and it's called certain income. So Dan what's the seventh rule that we live by in retirement security, The seventh is the most important rule and that is heavy written retirement income plan. That will then tie everything about your money together. In a document, you will have a retirement income projection. Little show exactly how much income you're going to get every year for as long as you live and each year where each income source comes from. It'll include a income tax projection. Little show as you increase your income to live the lifestyle you plan during retirement, How much tax you really pay, and you'll know exactly how much after tax monthly income you have to spend every month. The third portion. That plan will be a beneficiary asset transfer Analysis. Little show After you've used your assets bring come for so long as you live, and after you've earned reasonable rates returned..
KSFO-AM
"jim files" Discussed on KSFO-AM
"Our with Jim Files and Dan Almond of Pete Financial Freedom Group. Remember if you have any questions or want to get a complimentary review of your financial plan, pick up your cell phone and dial the number pound 2 50 say the keyword money again dial pound to 50 on your cell phone and say the keyword money. Let's turn it back over to Jim and Dan. Gym. Today. We are trying to get some of the truths out to people and make sure you can handle the truth because you've been told a lot of things that we don't feel are necessarily accurate. So one of them is you've been told forever. Mutual funds are safer than stocks. And you have to look at what happened. Mutual fund you have if the bond mutual fund that it might have less risky stocks, But if it does a stock mutual fund with an index 500 fund and NASDAQ funded AL Fund If it's a growth fund, it's a balanced fund is an international fund emerging more Confound all those Those are gonna be equity types investments inside of the mutual fund, which means you're buying stocks. So a Mitchell on the buy stocks. Is that then by definition going to be less risky than stocks. No, I mean, it's gonna have seen level risk. Yes, it'll have more positions will have more companies. But you have more stock positions of more companies. So you still have Equal amount of risk. But how many people do you think out? There have been told. Oh, mutual funds are a lot less risky in the stocks. Advisers typically tell their clients that which is not true. It's a stocked it just, you know. Ah, lot of stocks under one umbrella. That's all that is. Have you ever seen a mutual fund or exchange traded fund show? A 12 month loss of 40% 50%, 60% or even over 70%? Yes, I mean, if you go back to 0708 No. Nine or 2001 into the tech bubble. You had if you want just the S and P Right 500 of the biggest companies in North America. The SNP was down 53%. If you had a small cap stock, you could have been on 60 or 70%. Maybe on the international stock ticket abound down. 70 75%. So, yes. We see and have seen prices of stocks go down significantly. So the truth there is that if you have a mutual fund, and then it goes down and you go, gosh, how connected to go down that much is because it was invested in stocks in the market went down. You just have to accept that. What goes hand in hand with that as another truth. And that is your told that if you have a portfolio of a large number of mutual funds it substantial. Reduce your risk through diversification. Well, let's look at what if you have 20 different mutual funds, and let's say it's made up of 16 stock funds and four bond funds and your 80% stock mutual funds 20% bond mutual funds. It looks great. Looks like a beautiful pie chart. What's gonna happen to that portfolio when most likely when the market crashes 40 or 50% isn't going to be so diversified that you're not gonna lose one Penny? No, not at all, because many did meet your funds owned the same position. Take Tesla, for example, what Tesla ends up in all kinds of different portfolios, right? Because it's a tech stock. It's a clean injury sockets considers solar So it kind of depends on the focus of the of the mutual fund it picking up Tesla and you might own Tesla and other types of stocks. Whereby of those stocks, which you know they have a lot of risk to them. They go up and they go down. It will affect all your portfolios whereby you think you on Leone just a related subject within that portfolio you don't you own. You have overlap when there's pretty much proof. If you look at then what happens when the market goes down, whether it's 2000 to 78 2009 or and even in 2000 and 20 on, do you look at the market went down and you had this diversified portfolio mutual funds. And if it went down substantially, then it shows that you still had risk in that. So you just have to understand that That's just one of the truths to understand that will allow you to make a better decision. How about this one? A lot of people are told That they're only paying a total of 1% in fees on their total assets that are being managed by their adviser. And, if questioned about their mutual fund cost, additional training cost additional hidden cost management costs etcetera and advisers. Typical say No, The only for you're paying is 1% and someone has an adviser where they're paying a management fee. Is that going to be necessarily true if you have mutual funds or you if you have the exchange traded funds, you're paying more than 1% your example? Because these mutual fund companies, regardless of what your advice or may have told you don't work for free. They're big funds, even if it says no load. It doesn't matter. You still have an expense ratio in that fund. You have trading costs. And you could have other miscellaneous fees. So if you're really not sure what to do will help coach you through it for over 50 combined years we've been helping people just like you make the best decisions about their money were some of the top retirement income planners in the United States, and we would be proud to mentor you. If you're serious about your retirement, call us right away. Our clients are very serious about saving money for retirement and typically have between one million to $7 million in assets, not including the real estate. If you haven't least $500,000 in assets will meet with you and give you a free no obligation. Second opinion about your money. We'll talk about what you want to happen with your money Designer Risk reduction plan to eliminate all big stock market losses and never go through another 2008 again. Help you decide how much income you need and where it's going to come.