17 Burst results for "Ryan Herbert"
WCBM 680 AM
"ryan herbert" Discussed on WCBM 680 AM
"Pretty much what a lot of people are talking about. Today. We'll also talk about rolling over those forgotten for one kid counts and putting that money to work. Mike Canete and Ryan Herbert are here to help you grow. Keeping distributor wealth in the most tax efficient manner possible. Ryan Herbert, How are you Straight to see this weekend and other than one? Awful. It's nice weather outside. We are At the anniversary, the 20 year anniversary of 9 11, So you know, we're always trying to remember and And never forget, But we gotta have a plan for the future. And that's interesting because as Americans You know, today is a tough one man. Uh, it's 20 years and we we reflect will never forget, But like you said, we always have to be looking forward and The premise of the show is to help you prepare for retirement, you know, and and that's what we're going to focus on. Even today. I think that the unique thing about what today is is that this is probably One of the few times where you can think back 20 years ago and know exactly where you were what you were doing. At this time, and I think that's fairly unique in that aspect, because there's not many other times where I can say 20 years ago on the state I was doing Fox and you know you want to, you know, you want to remember that you want to have a plan for the future, So that way retirement can be memorable for you. You think back It was 20 years ago and where we can be in retirement for 20 years for 30 years? Uh, and that's a long time and can people conceptualize before? Building a plan with you guys at the savvy investor, radio and Status Financial Advisors group. Can they Can they comprehend what that's going to look like that? That that time span 20 to 30 years in retirement is a long time? No, I don't. I don't think many people do you know when listeners coming from the radio show,.
WCBM 680 AM
"ryan herbert" Discussed on WCBM 680 AM
"Ryan Herbert going to throw in the copy of Mike's book, Nothing is certain, but death and taxes until now. Great read to help you prepare better. Forward taxes. So most of us are hoping that we're going to be able to maintain the same standard of living in retirement that we enjoy now, but Jack Otter, he is an associate publisher for Barons, he tells Fox business. Lot of us aren't doing what we need to do to make that happen. Listen to this. This is a crucial point that people don't understand what you need to do is you need to save enough money that that savings will actually create an income stream for you. So it's not as if you take a few bucks out this year in a few bucks out next year and hope that you die before it goes to zero. You want to figure out have enough money so that it kicks off return? So, Ryan, how do we do that? I mean, we look at our 41 ks or IRAs and they're up and that's good. But in the back of our mind, we're also thinking how am I going to make that? Pay me to create income in retirement and, oh, by the way, so that it doesn't run out. Oh, I mean, the stock market just goes up, right? That's all it ever does. I can take out 4 to 5% a year and and, statistically speaking, never run out of money, right? That's what they used to say. And now I think that number is like 2.8% is what they're saying. You know if you have a million dollars and you leave it in the stock market when you retire You can take out 2.8% and statistically speaking, Never not our money. Well, if you have a million dollars, that was the magic number you wanted to hit being. No, I say that because that's a very common thing that I hear when people come in the office and I want to get my IRA does a million dollars when I get my 41 k $1 million. That's Just this number that everybody wants to have at this point, and they asked me What do I think of that? And it's a very subjective answer because everybody's situation. Is different. You know how much you have to save for retirement is really all dependent upon how much you want to have to spend. In retirement. And so you know, the the old thinking was, you know if I would draw 5% if I have a million dollars That's $50,000 a year I can take out and never live on Will that new number is 28,000. But if we stick to that old thinking, because that's kind of where most people still are, If you had a million dollars, and you retired January 1st of 2000 And you said, I'm going to take out 5% a year, which is $50,000. Well after three years, 2000. 2000 and 1 2002 by January, 1st. Of 2000 and three Your million dollars is now $565,000. Wow. And if you were taken out 50 grand a year to live on Now you're taking out almost 10% of your money to get that $50,000 a year And that's not the way to approach retirement. You should not be reliant upon The stock market to generate that income in retirement, because no matter how conservative you make your money, anybody that you ever have out there in the stock market is always at risk Bonds that's typically what people think of when it comes to safety. They can go down in value. In fact, When the Federal Reserve raises interest rates whenever they do it. They've been saying we're not gonna do it for two years for the past four years, whenever they start raising interest rates, those bond funds those bond ETFs that have those long term bonds in them, they will start to lose value because they're not going to pay as much. As those new bonds go out there. So really, you know what you need to do Is it all starts with having a plan and the number one question that I ask any time anybody ever comes in You know, Of course, I want to know when you want to retire what you want to do in retirement? But the number one question I asked that starts everything is how much money do you need to have? Every single month to spent, is it $3000 a month is it 5000? Is it $10,000 a month and more often than not people either. They don't know how much they want, or they give me Ballpark answer or they follow the the old thinking. You know, I'm an old thinker. I think that I could take out 5%. Well, if I do all the reading, I'm going to spend between 16 85% of of whatever I'm spending now. So here's the number and my thought processes is a lot different because Lifestyle should not change in retirement. Your standard of living should not change in retirement. Just because you're going from working 9 to 5 Monday through Friday, or whatever your schedule is. Just because you're going from working for a paycheck doesn't mean your lifestyle has to change because now your money Is working for that paycheck for you so, however much you spend a month while you are working. That is the number you should shoot for in retirement, And that is what determines. How much I have to have saved for retirement. And if you want to find out what your magic number is, because you can't go find those green errors on the street. You can't find those strings in the park that you grab and you run to the end of it. If you want to find out how much money you need to have for retirement, it all starts by having that plan and giving us a card. 866597 10 48 66. 597 10 40. You'll sit down with Mike or myself personally and well, put together your own customized retirement income plant, so give us a call. 866597 10 48 66597 10 40 As we give you some time to call in and set that time up with Mike Canete and Ryan Herbert of Pro Status Financial Advisors, let me tell you a little bit about Mike and it and Ryan Herbert might connect is a financial planner and estate planning attorney with a master's degree in taxation and three time Amazon best selling author Ryan Herbert Financial and tax planner and nine Times five Star Wealth Management Award winner ready to help you to and through.
WCBM 680 AM
"ryan herbert" Discussed on WCBM 680 AM
"Going to talk about that. Also, we're going to hear from IRA expert Ed slot, who says Raising taxes on the wealthy could end up affecting all of us. But don't worry, my Canete and right Herbert are here. To help you grow Keep and distributor wealth and the most tax efficient manner possible. Ryan Herbert, How are you? Great to see. I know the tax conversation and never ends for you guys know it never does you no justice past week we're doing Tax reviews with a lot of our investment clients a lot of our financial planning clients talking about what happened last year, the changes we said we would do and yeah, time to start and acting those changes. So you know it never stops because taxes are always a thing. You know, Mike has that book. Nothing is certain, but death and taxes. You know, every single year you've got to do your taxes. You got to pay the tax man. And that is true. You got to pay the tax man, but you don't want to pay him any more than you absolutely have to does not make you any more patriotic. Mike and Ryan always talk about that as well. But Let's look at the market here because you know, we see our 41 k statements and our retirement statements and you know, thankfully there up and we're happy about that, Ryan, but the folks looking around we're looking around. We see what's happening overseas in Afghanistan. We'll see what's happening here and things just do not look right. Economist and strategist, Julian Emanuel tells CNBC that we are due for a correction what we saw during the month of July as the S and P 500, the NASDAQ were both advancing. We saw the volatility index Vicks advancing as well. Whenever we've seen that going back to the beginning of 2000 and 18, we were essentially weeks away from a correction. It's very normal to get This degree of a potential pullback. 10% perhaps even 15% not going to ask you if you if we're weeks away from a correction because nobody knows, But if we do have one what does a 15 a 10% correction due to someone's retirement plans? I mean, you know, I think it it certainly gives them pause. If You know, I was planning on retiring at the end of the year or January or April or may of next year. And we have a 10 to 15% correction. I think that that certainly would give People pause because, you know, suddenly I have 10 or 15% less money. You know if I hit that magic million dollar number that some people want to have an inside. Therefore, one case all of a sudden now, you know, I'm at 900,000 and Oh, wait. I have that silent partner. In the IRS and state of Maryland, where I'm going to lose another 25 to 30%. In taxes if I cash that in, so I think that that 10 or 15% correction while it's not a major drop in the market, because when they talk about corrections we're talking about. We have a pull back. You know that lasts a couple weeks, and the stock market continues on its course. And it eventually recovers. Because you know that that wise old saying that you always hear is the stock market comes back. It always does, or Stock market does 80 10% of the time, but I think that correction Would give somebody pause to retire if they don't have a plan in place, And that's really the biggest thing that I can suggest that I can recommend when people always ask, you know, I'm Couple years from retirement. About a couple months from retirement. What should I do? Well, you know the number one thing you should do is have a plan. Create a written plan. So, you know Here's what my income is going to look like in retirement. Here's what I'm going to do on a Tuesday afternoon in retirement, here's what we're going to do for long term care here is we're gonna do for healthcare. Here's how are Taxes are going to look, you know you want to have that plan. You want to write it down and you want to stick to that plan as best you can as you enter those retirement years. And if you want to find out more about how to create that financial plan so that you can Try to protect yourself against this possible correction that that a man you was talking about for the next five callers that have saved at least $500,000 or more for retirement. I want to invite you into our office. You know a special invitation to give us a call 866597 10 48 66597 10 40 sit down with Mike. Or myself personally and will help put together your very own comprehensive retirement plan. We're going to talk about your 41 k. We're gonna talk about your IRAs. When talk about income and retirement. We're gonna talk about your taxes, how we can help reduce the amount of taxes of Japan..
News 96.5 WDBO
"ryan herbert" Discussed on News 96.5 WDBO
"Right now, Rusty. I'm looking at 76 degrees in case semi it is 76 now and Orlando Severe weather station. They've touch security, triple team traffic it towards what's going on an iPhone. Scott, You got delays on I four eastbound beginning between us 27 at 5 32. Once you get past 5 32 year back up to speed all the way into downtown and westbound remains all clear from Sanford into downtown. Visit the Refresh computer superstore in long Wait to get a complete windows 10 system for just 189 99 at refresh computers. They have what you need at every budget. Visit. Refresh computers dot net with traffic alerts every six minutes in the morning. We're helping you get to work on time from the Wdbo Triple team Traffic Center. I'm Ed Torrance, now one off the duster. One another one. But the dust another one. The dust? Well, a chance of the Olympics goes up in a puff of smoke. Literally. We'll tell you about it next. Retirement. You want solutions that are smart and simple. Listen to Mike Canete and Ryan Herbert of Pro Status Financial Advisors Group and host of the savvy Investor radio Show and Podcast. Wednesday night at nine. Here on Wdbo 173 F M and 5 80 A. M. In an accident and worried about paying your bills. We may be able to help. Hi, I'm attorney Jennifer English at the Orlando Law Group. We have recovered millions of dollars for our clients to help with their injuries, medical bills and to get their lives back. We may be able to help you for free consultation. Call me at 4075124394 that's 475124394 or visit the Orlando law group dot com Now offices Orlando See? See what day is it? Oh, Scott, we call this a protected I thought it was Friday. But you're right. You're right. It is a protect day. You just heard how brutally hot it's gonna be. It's hot. It's muggy.
WCBM 680 AM
"ryan herbert" Discussed on WCBM 680 AM
"With a registered representative. Their duty is To sell you some investment that is suitable for you. And I know people talk about the judiciary duties and all that. But you need to have somebody who truly understands how to create those income streams shows you the options on how to create those income streams because there's not one size fits all you need to truly understand how to create this income streams, and you need to understand the tax implications of those income streams. Imagine Elizabeth 20 to 30% right off the top because the advisor you chose doesn't understand the tax implications of what you're doing. So when we sit down with our clients when we sit down and create those income streams, we showed them exactly how it's gonna happen. Look, if you want to buy an annuity, here's on a newly works. Here's how it's going to guarantee your income. You don't want an annuity because you read I hit a new lease, and you should, too. Okay, fine. Here's how the stock market works. And here's how much money you have to satisfy in the stock market to statistically right that Monte Carlo to statistically never run out of money. Here's how much you have to set aside. And you know if you want preferred stocks and dividend paying stocks, here's another approach. But you need to have those options in front of you so that you can make an informed decision about your money. And if you want to have that opportunity, if you want to know exactly what your options are, and you don't want a one size fits all approach. Give us a call. We will sit down with you. We will create those income streams Policy 8665 minutes. 7 10 48 66. 597 10, 40 Ryan and I Marching will sit down with you. We will show you exactly how to create those income streams. We're going to tell you exactly how much money you need to set aside in a new and if that works for you in stocks and equities, If that works for you and preferred stocks and evidence will tell you exactly how much money you need to set aside to create that income straight. It's not an approximation. It's not a Maybe It's not what we think. And it certainly isn't a round number. It is an exact number because you know what? It's an exact science. We know exactly how much that number is. When you sit down with us, we're going to create those income streams. We're gonna show how much risk you're taking. We're going to talk to you about the fees that your pain we're gonna talk about long term care, state planning and most importantly right now, folks taxes. We have five years left of the lowest tax rates we've ever had before. And quite frankly, with Joe Biden talking about increasing your taxes at this very minute. There's no time like right this second to do tax planning for now and into the future. Give us a call 866597 10 40 retirement planning A to Z will give you a couple minutes to call in and set that time up with my Canete and Ryan Herbert and the team at pro Status Financial Advisors group. And, of course, here on the savvy investor, radio and podcast, then speaking of taxes, Texas and Florida are the fastest Growing states population wise, But what if you like where you live Right now? You don't really have to move to another state just to lower your tax bill in retirement. We're gonna talk about that next right here with you. Stay with us talking away way. I don't know what I'm saying it anyway. Wcbm traffic check is sponsored by Echo Park. Traffic is still stop and go Eastman on 50 between Davidsonville Road in 97, an accident he spent on 58 route Boulevard quickly cleared away and delays continue eastbound between radial drive and the Bay Bridge to a traffic is in effect. Now there was an accident on Davidsonville Road in the vicinity of highway to 14 eastbound watch for delays from Foxhall Drive, and you will still need to watch out for crash of Pikesville on Reisterstown Road between Naylor's Lane and the Beltway. You will still find slogan. Traffic on the outer loop of the Beltway approaching Washington Boulevard, Right lane blocked with an incident. You don't want to pay more. When you don't have to an Echo Park, Baltimore and moral They echo that their vehicles are always the lowest price of the $3000 less than their competition. Find your next vehicle today at Echo park dot com. Echo Park Automotive Lower prices Higher quality Better Experience on Best Borders to talk radio 6 80 wcbm. The Songs of Love Foundation is a nonprofit.
WCBM 680 AM
"ryan herbert" Discussed on WCBM 680 AM
"Efficient manner Possible. Ryan, How are you? Great to see. You know, I'm doing wonderful. The weather is amazing. Now it's nice and warm every day provided it's not too too hot. The kids are almost almost almost on with school. So this, you know, hopefully we can put this entire Virtual half virtual school year behind us and, you know, hopefully they get to start fresh. Come next September. You know this is a busy time for a lot of people normally think summertime, you slow down, but You guys have offices in Baltimore and in Florida, so people have a lot of different schedules. But summertime is really not a time to be slowing down specifically this summer time, let's get into taxes. With that. President Biden wants to nearly double the capital gains tax rates for anyone who makes a million dollars or more will now CNBC's Robert Frank tells us the president wants to start collecting that money before you have a chance to do anything to protect that. Listen to this. President Biden officially calling for the largest capital gains tax increase in history to be retroactive. If this passes and you sold stocks or business or property after April 28th of this year, you could owe back taxes. Wow, retroactive, Brian. The folks are listening to this and white knuckles if they're driving and they're just they're just shaking your head. What do we do about the precedent for them To be able to put in a retroactive tax hike is not really there. So I think it would take a lot for him to for them to put in something that says all right, we passed this package. Oh, by the way, it goes back to a point where you didn't even know this really. Existed and the good news in it is that it doesn't affect Most of America. It doesn't affect anybody who makes less than a million dollars because right now how you get to the highest tax rate possible on your capital gains As you are up there in that 39.6% tax bracket and under the current tax law as a married filing joint couple you have to make Obamacare surcharge tax. That's 23.8%. And now what they're talking about doing is if you're in that highest tax bracket, which under Biden's route, new rules, he would lower it from that 6 28 to about 509. Okay, so now instead of paying I want to say that the your tax rate now goes to 39.6% as ordinary income rates. And if you make over a million dollars what he's saying is you are gonna pay in Santa paying capital gains tax. You're going to pay ordinary income tax of 39.6. Then you tack on that 2.83 point 8% Sorry for for Obamacare, and you're 43.4%. Taxes on investment sales. Those capital gains those long term capital gains rates and you know it's really making those long term capital gains rates similar to Your short term capital gains because short term capital gains have always been taxed at ordinary income rates. But the question really becomes, you know, unfortunately, I am one of those people who you know if if I make over a million dollars, and I'm selling my stock, or, you know, I have extremely highly appreciated asset that I want to get rid of. And it's going to throw me over that million dollar Mark. What can I do? A lot of folks are in that position right now. There are a lot of a lot of folks in that position, especially because of this huge, huge run up we've had in the stock market or if you're one of those people that you know you bought Ups stock way Back in the eighties you bought Disney stock. 18 T stock, Exxon stock error or, you know Tesla, Tesla in 2020. Went up 893% in value. And to compare Berkshire Hathaway Class B. You know Warren Buffett, the the Oracle of Omaha, the stock market genius. 2.5% is how much that stock increased over That same time period. It is just mind boggling what really happened, so the question really becomes, What can I do if this passes If I'm in that situation where I'm going to be in the highest tax bracket I'm making over. $500,000 year. $600,000 year. I'm hitting that million dollar mark. What can I do? Well, if they ignore all previous precedent, and and they get this thing passed, Unfortunately, there's not really much That you can do. You can do the normal tax planning side of things where we try to do tax loss harvesting where we look at, you know, maybe you have some losses in your portfolio, which I don't know. How many losses you might have after the stock market? I just had this massive, massive run up, but tax loss harvesting where we're selling off assets that have losses to try and offset that game to try and bring your income down below that million dollar number. Maybe, you know you have conversations with your employer about shifting some of your Your earnings to the next year. Maybe we look at other tactics inside of your tax return on how we can reduce your income, whether we're using limited partnerships or specific types of investments where you're buying tax credits to help Reduce your income and the bottom line to it really becomes. You have to come up with some type of a plan for this. This is not one of those things you can just Well, if it happens, it happens. I'm going to pay taxes. You want to explore every avenue possible and for the next five callers that have saved at least $500,000 or more for retirement. I want to extend a special invitation to give us a call. 866597 10 48 66597 10 40. And sit down with either Mike or myself and more personally helped put together your very own retirement plan that has these tax planning strategies built into it, because it's not how much you make. It's how much you keep at the end of the day. We want to get you in that lowest tax bracket possible. So you have to give us a car 866. 597 10 48 66597 10 40 sit down with micro, myself and well put together. This plan on absolutely complementary basis. It's a savvy investor, radio and savvy investor podcast brought to you by pro status Financial Advisors group might connect and Ryan Herbert. Ryan. You guys have been talking about this now for years, taxes are going to increase. We gotta start planning. So this is nothing new for.
WCBM 680 AM
"ryan herbert" Discussed on WCBM 680 AM
"Do that? Well, Brian Herbert is here. He's got answers for you. Mike and Ryan are here every week to help you grow. Keeping distributor wealth in the most tax efficient manner possible, right? How are you? Great to see you and I'm doing wonderful. The weather is amazing. Now it's nice and warm everyday, provided it's not too too hot. The kids are almost almost almost done with school. So this, you know, hopefully we can put this entire Virtual half virtual school year behind us and, you know, hopefully they get to start fresh. Come next September. You know this is a busy time for a lot of people normally think summertime, you slow down, but you guys have offices in Baltimore and in Florida, so people have a lot of different schedules. But summertime is really not a time to be slowing down specifically this summer time, let's get into taxes with that. President Biden wants to nearly double the capital gains tax rates for anyone who makes a million dollars or more Well now, as CNBC's Robert Frank tells us, the president wants to start collecting that money before you have a chance to do anything. To protect that. Listen to this. President Biden officially calling for the largest capital gains tax increase in history to be retroactive. If this passes and you sold stocks or business or property after April 28th of this year, you could owe back taxes. Wow, Retroactive. Brian Folks are listening to this and white knuckles if they're driving and they're just they're just shaking your heads. What do we do about that? The question really becomes, what can I do if this passes If I'm in that situation where I'm going to be in the highest tax bracket, I'm making over $500,000 a year $600,000 year I'm hitting that million dollar Mark. What can I do? Well, if they ignore all previous precedent, and and they get this thing passed, Unfortunately, there's not really much That you can do. You can do the normal tax planning side of things where we try to do tax loss harvesting where we look at, you know, maybe you have some losses in your portfolio, which I don't know. How many losses you might have after the stock market? I just had this massive massive runoff but tax loss harvesting where we're selling off assets that have losses to try and offset that gain to try and bring your income down below that million dollar number. Maybe, you know you have conversations with your employer about shifting some of your your earnings to the next year. Maybe we look at other tactics inside your tax return on how we can reduce your income, whether we're using limited partnerships or specific types of investments where you're buying tax credits to help Reduce your income and the bottom line to it really becomes. You have to come up with some type of a plan for this. This is not one of those things you can just well, If it happens, it happens. I'm going to pay taxes. You want to explore every avenue possible and for the next five callers that have saved at least $500,000 or more for retirement. I want to extend a special invitation to give us a call. 866597 10 48 66597 10 40 sit down. I think your mic or myself, and we'll personally helped put together your very own retirement plan that has these tax planning strategies built into it, because it's not how much you make it. How much you keep At the end of the day. We want to get you in that lowest tax bracket possible, so you have to give us a call. 866597 10 48 66597 10 40 sit down with micro, myself and well put together. This plan on an absolutely complementary basis. It's a savvy investor, radio and savvy investor podcast brought to you by per status Financial Advisors group. Mike and Ryan Herbert Ryan. You guys have been talking about this now for years, taxes are going to increase. We've got to start playing. So this is nothing new for regular listeners of the show and your clients. But it looks like it's coming to a head now because things are are really furthering up a lot more, and this may well happen. Whether it's this proposal or another proposal. We're going to get hit with a massive Tax hit and tax planning is really what you guys do and one of the key stones of of your firm. Talk about that talk about the difference between tax preparers. Somebody that you know, just does your taxes and true tax planners that also work with your retirement and your investment. The biggest difference to the tax preparing attacks. Planner Is your tax repair Somebody you see once a year you send them all your information. You make an appointment. You go sit down in their office and they do your taxes and they and then they either hand you back or return that you sign of the email to you. Then it's five. Then you honestly you don't hear from them. Until January, February or march of the next year, whereas a taxpayer as someone who is going to have those conversations with you about all right, here's what happened last year that made major taxes change. However much here's what we can do going forward for this year because you're doing taxes in the the year following. Here's what we can do this year to make changes. So that next March next April, God forbid the extent this tax line again on Mike and I here, But you know, here's what we can do to help reduce taxes. And these are the conversations that I have. That I'm having now with all of my clients, you know, I was just talking with clients of mine the other day. Just this past week. We're and we're talking about, all right. We want to start planning more for retirement. We talked about doing Roth conversions with their money, which is where we're taking money out of their IRAs and dropping paying tax one and putting it in to the Roth IRAs and part of those conversations are let's stop. Putting our money away into these traditional IRA accounts, because if taxes are going to go up in the future, why not pay taxes now on lower tax rates, then we're going to have in the future. So we're talking about all right. Let's shift this 10% that you're putting in your traditional 41 K. Let's put over into your Roth IRA here. The ramifications it's going to have on everything else on your tax return. We need to adjust. Your tax withholdings appropriately so that not only you end up with that same net pay and your paycheck every single month. But so that we don't have this big surprise at the end of the year and then oh, by the way, my husband got to raise his sound was going to go up to this. We just got a bonus. That's another $30,000. Here's the taxes they took out. Can we sit down and talk about these things, and that's what we do. On a regular basis. And quite often, I get phone calls from our radio listeners where we're talking about this. You know, I have this tactic you I want to talk about because I cannot get the answer from my accountant. You know, I have these three round properties. This was a conversation I had a couple weeks ago. I have 331 of property and I want to start getting out of them because I'm getting older and I don't want to Deal with this headache anymore, And when I asked my tax a pair about selling it, all they did was say, Here's how much money you're gonna owe in taxes. If you sell it you should send in. An estimated tax payment. And he said, Well, what? What can I do to avoid to avoid paying the taxes? It goes, Oh, well, you know, just sell the property. Sending the payment will figure it out. No, that's that's not. That's not what you do. There are so many alternatives when it comes to selling assets like rental properties. You can do exchanges. You can push that capital gain down the road. You can go out and you can buy specific investment vehicles that allow you to defer the tax is further down the road and get an income stream. Really working with a tax preparer, an investment manager and a financial planner who looks at all of these aspects and has the tools has the idea is to come up with creative ways to help you to your retirement goals. If you want to find out more about this for the next.
WCBM 680 AM
"ryan herbert" Discussed on WCBM 680 AM
"Financial Advisors group Mike Canete and Ryan Herbert. Ryan. You guys have been talking about this now for years, taxes are going to increase. We got to start playing. So this is nothing new for for regular listeners of the show and your clients. But it looks like it's coming to a head now because things are are really furthering up a lot more, and this may well happen. Whether it's this proposal or another proposal. We're going to get hit with a massive Tax hit and tax planning is really what you guys do and one of the key stones of of your firm. Talk about that talk about the difference between tax preparers, somebody that you know, just does your taxes and true tax planners and also work with your retirement and your investment. The biggest difference between a tax preparer. Tax planner is your tax preparer. Somebody you see once a year you send them all your information. You make an appointment to go sit down in their office and they do your taxes and they and then they either hand you back to return that you sign in the email to you, and then it's filed then you honestly you don't hear from them. Until January, February or march of the next year, whereas a taxpayer as someone who is going to have those conversations with you about all right, here's what happened last year that major taxes change. By however much here's what we can do going forward for this year because you're doing taxes in the the year following. Here's what we can do this year. To make changes. So that next March next April, God forbid the extend this tax line again on Mike and I here, But you know, here's what we can do to help reduce taxes. And these are the conversations that I have that I'm having now. With all of my clients, you know, I was just talking with clients of mine the other day. Just this past week. We're and we're talking about, all right. We want to start planning more for retirement. We've talked about doing Roth conversions with their money, which is where we're taking money out of their IRAs and dropping paying tax on it and putting it in to the Roth IRAs and part of those conversations are let's stop. Putting our money away into these traditional IRA account, because if taxes are going to go up in the future, why not pay taxes now on lower tax rates, then we're going to have in the future. So we're talking about. All right. Let's shift this 10% of putting in your traditional for one cake. Let's put it over into your Roth IRA here. The ramifications that's going to have on everything else on your tax return. We need to adjust your tax withholdings appropriately, so that not only you end up with that same net pay in your paycheck every single month. So that we don't have this big surprise at the end of the year and then Oh, by the way, my husband got to raise his salary is going to go up to this. Oh, you just got a bonus. That's another $30,000. Here's the taxes they took out. Can we sit down and talk about these things, and that's what we do. On a regular basis. And quite often, I get phone calls from our radio listeners where we're talking about this. You know, I have this tax issue I want to talk about because I cannot get the answer from my accountant. You know, I have these three running properties. This was a conversation I had a couple weeks ago. I had the three men of property and I want to start getting out of him because I'm getting older and I don't want to Deal with this headache anymore, And when I asked my tax preparer about selling it, all they did was say, Here's how much money you're going to owe in taxes. If you sell it you should send in. An estimated tax payment. And he said, Well, what? What can I do to avoid avoid paying the taxes? It goes, Oh, well, you know, just sell the property. Sending the payment will figure it out. You know, that's that's not that's not what you do. There are so many alternatives when it comes to selling assets like rental properties. You can do exchanges. You can push that capital gain down the road. You can go out and you can buy specific investment vehicles. That allow you to defer the tax is further down the road and get an income stream really working with a tax preparer, an investment manager and a financial planner who looks at all of these aspects and has the tools has the idea is to come up with creative ways to help you to your retirement goals. You want to find out more about this for the next five callers that have saved at least $500,000 or more for retirement? I want to offer you the opportunity to come in and sit down with my can have us put together a complementary financial plan. Give us a call. 866597 10, 48 66597.
WCBM 680 AM
"ryan herbert" Discussed on WCBM 680 AM
"That you're paying. In fees just because so well, that's not gonna take the video. I said All right, $60,000, plus the other $12,000, which paying him? We're right. It's $72,000 a year that you're paying in fees, and you don't even know it. Wow, that's kind of the part about it. And I'm saying all right, you because you've been working with him for 10 years. That's $600,000 over the past 10 years that could have been money in your pocket. That's really the difference with working with somebody who not only understands How the investments work. How risk work How fees work, but also think about all right. I've been paying this 60 grand and in fees What about the taxes have been paying all along this entire time as well and those fees those taxes really start to add up and you need to be aware of that. That's why it's so important. Work with somebody who thinks about the tax aspect of everything that you're doing, because not only is an important when you do your taxes with how much money I make when I earned It also comes into play when you're doing your taxes for Let me think about my investments. How attacks is going to impact my retirement, Mike, So we have five years to take advantage of these tax laws. It already starts by game is called 866597 10. 48 66597 10 40 You commenting. You sit down with Mike and myself. We'll look at your tax return. We'll look at your investments. They look at your state planning documents. Make sure that you're paying The least amount of fees the least amount of taxes. Give us a call 866597 10 48 66597 10 40 Mike, and it is a financial planner and estate planning attorney with a master's degree in taxation and three time Amazon best selling author. His latest book that you can pick up Right now is called. Nothing is certain but death and taxes until now. Ryan Herbert is a financial and tax planner and nine time Five Star Wealth Management Award winner. We'll give you a couple of minutes to call in and set that time up with Mike and Ryan. Then the market is at record highs. It's good for your four. Oh, one k right, But how long will it last? We'll talk about protecting your money as we may have entered the danger zone that's coming up next right here on the savvy investor, radio and savvy investor podcast. Coming up on the savvy investor podcast. An exclusive interview with Mike Annette and the Murray Brothers featuring Bill Murray. Celebrity family Keep the kids Grounded. Not this. I make mind Sit with me privately and watch lifetime episodes of celebrity Children gone bad that would do it. That would be oh, just search the savvy investor on Spotify Apple podcast or wherever you listen a podcast and subscribe today, so you'll never miss a minute of the savvy investor podcast. No, I'll be. There was a time when the answer was.
WCBM 680 AM
"ryan herbert" Discussed on WCBM 680 AM
"Many are saying that your retirement accounts are on Congress's crosshairs. How do you avoid a big hit like that? And we're gonna learn from NFL Great Marshal Falk about teamwork. Planning for retirement. Great conversation for you here today. Mike and Ryan are here. Help you grow keeping? Distribute your wealth in the most tax efficient manner Possible. My name is also Mike. Mike. Annette. Ryan Herbert. How are you guys? Welcome to the weekend. You're doing excellent. It's always great to be here. Always great to share wealth, and Mike and I are are back together again after a couple weeks apart, I guess. Hey, it enjoying this wonderful, balmy weather. We're having up here in Maryland and very much looking forward to the game this weekend. Absolutely. It is a big game this weekend, and we hoped that that your team Wins, but we got to get to the headlines. First. We've been seeing Ah lot of news lately about games stop, and it's in making headlines, people or don't know really know what's happening here, Guys, can you give us a 30,000 ft explanation on what it is? Is it easy way for retirement savers to make some easy money? Or is it the case of it Seems too good to be true. Well, is it a good idea for return mint investors to use it as a great way to make money? My response would be no. Is the answer. Can you make money too? Wanted absolutely and the real issue or the real concern that we have. Is that the spike in it the run up on it. It could come down Justus quickly, And there's nothing wrong with retirees taking a portion of their money and like swinging for the fences, But for advisors like writing myself, our team We have a fiduciary duty to be looking out for the best interest of our clients and taking client money and swinging for the fences typically is not part of the planning process. Having said that, and we have clients that you know they like to Cryptocurrency. They like that the whole idea of Bitcoins they like the idea of, you know the silver being run up or whatever it is Reddit readers. And users are gossiping about to push up the price of a particular stock. I get it. I mean, it's an attractive way toe, maybe make a boatload of money. I mean, you could, you could lose it just as quickly. So from our perspective, Look, if somebody wants to take a small portion of their portfolio of a little bit of their money and go do something like that Feel free. It's there's nothing wrong with taking a portion of your portfolio. That's not going to impact your ability to retire or stay retired are not gonna force you to hand out smiley faces at Wal Mart. Right s so this one should not having to do that. By taking the risk that you take by, you know, following read it and making investments recommendations. Have none of these 20 and 25 year olds taken that recommendations. Absolutely. You know, if you want to go blow $1000 and turned it into a million or lose 1000. I don't know that there's anything wrong with that, right. Ryan's looking at me like that again. Nuts, You know, I think that just like just like Mike said, you know if you want to have A small portion, your portfolio or or an account that has a few $1000 in it. That's your play money. Yeah. You could go ahead and buy something like that. You know, Personally, I did participate in some of the games stop in the A, M. C. And then the Nokia But what I did was I said, all right, this is the maximum number I'm willing to lose what I'm doing this and I set in place. What are called trailing stop losses That said, I'm only gonna lose 10% of my money. And as this investment goes up in value that 10% number goes up as well. I mean, because if you think about Gamestop what happened was the price of it on January, 22nd was right around $40 a share. It peaked at $476 a share, and then it just kind of crashed. It fell all the way down to like 115, and it came back up to 3 20. Then it's back to 2 30. Then it's down to $100. So it is all over the place. But if you want to have some of your money that you're not relying upon To create income in retirement. If you want to have some of that money, just have fun to buy a few stocks to try and day trade because you you've seen the wolf of Wall Street. You've seen the boiler room or or any of those movies. There's absolutely nothing wrong with it. But you don't want to bet your retirement on these wild, wild, volatile swings. You don't want to bet your retirement on a social media. Platform and what people are talking about on that platform. Who may or may not have any idea what they're doing you. You know, you can see those those threads on that form where the one gentleman turned $50,000. Into $44 million in this, but for every one of those, Yeah, there's millions of them who wasted their money Who lost that $50,000 investment, So you want to be careful with what you're doing? With investments like that when you're speculating in the market, and you don't want to put your retirement at risk, just because you wanna have some fun in the market. I think that's really the bottom line. It's okay to have fun, but you want to be safe with what you're doing. And if you want to learn more about what was actually going on with Gamestop and how you can try toe, find this type of value and try to find this type of growth. Mike and I are more than happy to have those conversations with their clients because as your questions that we get all the time, but all of it really starts by giving us a call 866597 10 48 66597 10 40 putting that secure retirement plan in place so that you know no matter what happens in the market might income a secure in retirement? My retirement Is secure, No matter what. So now I can peel awesome on my money, and I can have that fun account that play account. But not sacrificing retirement. And that all starts by giving us a call. 866597 10 48 66597 10 40 had this client. She came to us back in 2008 when the markets were just getting clobbered right, and she had an allocation that she wasn't real comfortable with it and quite honestly didn't quite fit. What she was trying to accomplish the list, which she told us she was trying to accomplish. And And so as we sat down with her, we created this portfolio for her. And it was getting a steady 678% when the markets did really well, she did a little bit better. But when the markets were going to crash, we wouldn't have seen those losses and it suited her needs all through 8 4009..
WCBM 680 AM
"ryan herbert" Discussed on WCBM 680 AM
"Crisis. Here's how your portfolio has been affected over the past 20 years. Is this something you want to experience again? And it's almost always absolutely not. What can we do different to take this out of the table? And that's where Mike and I always talk about smart breast We want to take as much risk As we need to take in order to accomplish the goals, So if you don't need to try to hit home runs, you don't need to see that 8 to 12% returns. They tell us the stock market does overtime every single year. Why check on any of that undue risk? Want to take a much more conservative approach? And just get that 456% steady returns year over year and the important thing to take away from that is that everybody's situation is different. We take on the right amount of risk. To meet the goal. No undue risk. That's really what that portfolio X ray is all about, is sitting down and showing you what has happened to your portfolio over the years. In real numbers. How much risk you're taking? What of the fees you're taking? Can you be more effective in your investment choices and that all starts but Jim's a call. 866597 10 48 66597 10 40 sit down with Mike and myself and a member of our team and let us go through the portfolio and show you exactly the risk. You're taking exactly the fees so you have a much better picture. Of everything that's going on and going back to these. These radio listeners that came in this past week. You know, they ultimately decided that yes, we want to take action. We're tired of doing this ourselves. We're tired of making these emotional reactions. So what's going on in the stock market? We want to put that plan in place. We want someone in our corner, helping us make these decisions and holding us accountable to our decisions and keeping that plan in place. But it all started. Buy them. Give us a call. 866597 10 48 66597 10 40 appreciate that folks will give you a couple of minutes to call in and set that time up with Mike Annette and Ryan Herbert in the team and pro status. Financial Advisors grew because after you get you get a team to.
WCBM 680 AM
"ryan herbert" Discussed on WCBM 680 AM
"Here's how your portfolio has been affected over the past 20 years. Is this something you want to experience again? And it's almost always absolutely not. What can we do different to take this out of the table? And that's where Mike and I always talk about smart rest. We want to take as much risk As we need to take in order to accomplish their goals. So if you don't need to try to hit home runs, you don't need to see that 8 to 12% returns. They tell us the stock market does overtime every single year. Why take on any of that undue risk? Want to take a much more conservative approach? And just get that 456% steady returns year over year and the important thing to take away from that is that everybody situation is different. We take on the right amount of risk. To meet the goal. No undue risk. That's really what that portfolio X ray is all about, is sitting down and showing you what has happened to your portfolio over the years. In real numbers. How much risk you're taking? What of the fees you're taking? Can you be more effective in your investment choices and that all starts by give us a call. 866597 10 48 66597 10 40 appreciate that folks will give you a couple of minutes to call in and set that time up with Mike Annette and Ryan Herbert in the team at Pro Status. Financial Advisors grew because after that, you get you get a team to help you to and through. Retirement couple of minutes for you to call in then taxes are on the rise..
WCBM 680 AM
"ryan herbert" Discussed on WCBM 680 AM
"Counseling and housing services. You're not alone more info at together we're stronger dot com I'm Albie Deed for talk radio 6 80 Wcbm Thunderstorm Watch goes into effect like this weekend for the potential for some 5 to 7 inch snowfall totals here like this weekend early next week, and then I'll start Sunday afternoon for us. They tune this weekend for updates on timing and intensity. Arlo Tonight 24 degrees, mostly sunny Saturday. We do hit 40 and then upward. 20 Saturday night. The action kicks in Sunday and could see some 5 to 7 inches of snow Late Sunday night into Monday. I'm Scott Larrimore, the weather Channel on talk Pretty of 6 80 wcbm, the views and opinions you here on talk radio 6, 80, wcbm and wcbm calm are not necessarily those of the owners, management, employers and advertisers of wcbm. But they should be the seven investor he has brought to you by pro status Financial Advisors Group. This is the seven investor radio with Michael Annett ApoE Status Financial Advisors Group As a financial planning my job is to figure out the best tools in the best solutions from my client's. Mike is a financial planner and estate planning attorney with a master's degree in taxation in three time. Amazon best selling author alongside Mike is nine times five Star Wealth Management Award winner and top great financial advisor by Forbes. Ryan Herbert. With your income. It has to be a reliable, predictable income stream. So you know this is how much I can spend for decades, The Post at his financial team has been helping families build successful retirements and lasting family legacies. Now the savvy investor radio Thanks.
WCBM 680 AM
"ryan herbert" Discussed on WCBM 680 AM
"Might connect has the weekend off. Ryan Herbert is in the retirement hot seat this week and Ryan, How are you? Welcome. I'm doing great. Just fresh off a nice, long post Christmas vacation with The wife and kids. We went down to some warmer weather and begrudgingly. I'm back here in the in the cold, but always excited to be back here, and I'm just talking to you. I miss talking to all our radio listeners out there. There's a lot to think about. As we go into 2021 Ryan has a special offer for you listening today to sit down with he and Mike Annette and go over your retirement. We're gonna tell you more about that coming up. We're kind of in the same boat here because a lot of people are now starting to get back into the swing of things after the holidays and the new year, But the New year presents new problems. Obviously, with Cove it and a new election. Lots of things are happening regarding taxes, and no one really knows what's going to happen with the new administration. But Morning Star's Maria Bruno says that that's a good question to ask what is gonna happen with our taxes. We go through this with every change of administration when there's concern or or interests that there might be changes in text legislation. We just don't know there are proposals that are out there. We don't know exactly what will happen or when. So to make changes in your portfolio, or maybe your draw down strategies. You're gifting strategies with the uncertainty. Um, it's good to have it in mind. But be careful about executing on strategies that you think could happen because the reality of it is we don't know when it'll happen. Or if it'll be re retroactive to the beginning of the year. All right, so basically, she doesn't know she's just saying Be careful. Do you agree with that? Ryan. Is there anything we can do now? To better position ourselves for what most assume are gonna be higher taxes? Well, you know, it's something that you should have been doing for the past three years. Really to take advantage of what has been going on over the past three years where we have these lower than ever. Tax rates is wider than ever. Tax brackets, and so what we are telling clients to do what we're doing with our clients is the same thing we've been saying for years and years and years. We want to do these Roth Conversions. We want to start taking money out of your IRAs paying the tax on it now, while rates are so incredibly low Moving in over into a Roth IRA that way in the future. When said when not if, but when tax rates go up? All that money you've set aside for retirement can now be tax free We can use to generate tax free income. You know, you want to take out 2030 $40,000 for a down payment on your vacation home. Your second home that RV or that boat, you know, whatever it is you want to do in retirement, Let's make it as a tax free and his tax. Efficient as possible because I do think taxes are going to go up in the future when they're going to go up. Just like Maria says. I don't know how much they're going to go up. I don't know. But what I do know is that right now, these current tax rates will last until the end of 2025. So that gives me Another couple years to take advantage of these tax rates. If they happen to change the tax all between now and then, then we adjust our plan. It's all about having that plan in place. And if you want to find out more about how we create these Roth conversion plans, how you can save money in taxes, it all starts by give us a call 866. 597 10 48 66597 10 40 sit down with Mike and myself on a member of our team, and we'll show you. Here's how much money you will pay in tax over your lifetime by doing nothing. With what I know. Here's how much you will save in taxes by doing this rock conversions with what I now, if taxes go up in the future, that number has become even more exponentially different, but it all starts. Give us a call 866597 10 48 66. 59 17 40. I was having this exact conversation with someone just this past week. You know, I've been on vacation, so he was really Anxious to come in, and he came into the begin the year we talked back in December. We set up kind of this Roth conversion plan. I said, You know, here's exactly how much we're going to convert. Here's exactly how much you're going to save on taxes. Here's an income plan. Here's the fees that you're going to pay. Here's a plan for a long term care. Here's a plan for state planning, really putting all those Financial pieces off his puzzle together to kind of give him this financial plan, and he wanted to have AH, further conversation about These tax changes because his biggest concern like Ah, lot of people is what is going to happen this year. Now that we have a democratic controlled presidency, we have ah, very narrow, democratically controlled. Senate and we have a democratically controlled house. You know, He's very concerned that we're gonna put this plan into place. We're going to say, Let's convert it over the next four years. Pay the tax. One of his biggest concern is okay now that Biden's in there what happens if The pass a tax law change in the middle of the year. Well, one of the things that's very, very hard for them to do, mostly because there's a lot of hoops for them to jump through, and there's not really a historical precedent for this. It's very hard for them to pass a tax increase. And let's say they do it as fast as they possibly can. And they get this thing passed in April, because, realistically, that's their time frame. It's very hard for them to go back and say OK, these tax changes that we just passed the April we're going to retroactively apply them. To January of 2021. It is very, very hard for them to do that, Maura likely. What happened is they say, Okay, this plan this new tax plan these new tax brackets. He's new tax rates are all going to be applied in January of 2022. So when I'm sitting down with this gentleman from the radio, we're going over the plan, and I'm saying OK, so They change the tax rates right now, that $230,000 that I'm going to take out of your IRA put on your tax return pay taxes on and convert to that Roth IRA. That is based on the Trump. Tax rates that Trump tax bracket. And so we do that for 2021, because I know more than likely it's not going to change and then in 2022 when they had that possible new tax bracket that possible new tax rate. In place. I'm going to adjust that number. Because what they want to do what they need to do. What they should do is raise taxes. We have to raise taxes to pay for all this debt. We had debt added on by the Bush administration, close to $7 Trillion We had about another $8 trillion at it on by the Obama administration and At last check from the Trump administration. It was close to another $9 trillion in debt in all of this debt has been added on to the federal deficit in the face off lowering taxes..
WCBM 680 AM
"ryan herbert" Discussed on WCBM 680 AM
"We drifting to the east over the weekend, keeping our numbers on the Christmas side. And we will see some twenties for low temps early next week. 38 degrees are low tonight. A couple of us snowflakes off to our west and across the Panhandle Tonight, some cold rain showers Here ties a cold front moves on through Mostly cloudy Saturday Breezy West Wind High 47 with 33 tomorrow night Sunshine Sunday 49. I'm Scott Larrimore, the weather Channel on talk radio 6 80 wcbm the views and opinions you here on talk radio 6, 80, Wcbm and wcbm calm are not necessarily those of the owners, management, employers and advertisers of wcbm, but they should be those seven investor he has brought to you by pro Status Financial Advisors Group. This is the seven investor radio with Mike Annette and pro Status Financial Advisors Group As a financial planner. My job is to figure out the best tools in the best solutions for my client's. Mike is a financial planner and estate planning attorney with a master's degree in taxation and three time Amazon best selling author alongside Mike is nine time five. Star Wealth Management Award winner and top break. Financial advisor by Forbes. Ryan Herbert. With your income, It has to be a reliable, predictable income stream. So you know this is how much I can spend four decades the pro status financial team has been helping families build successful retirements and lasting family legacies. Now the 70 investor radio the top three mistakes people make saving for retirement. We're gonna talk about that today, and retirees with guaranteed income are happier and live longer. Yeah, Mike and Reiner here to help you grow, keep and distribute your wealth in the most tax efficient manner possible. Mike, and it has the weekend off. Ryan Herbert is in the retirement hot seat this weekend, Right? How are you?.
WCBM 680 AM
"ryan herbert" Discussed on WCBM 680 AM
"Like everything else, 2020 taxes will be like no other years. So stay with us lots to talk about today. Financial Resolutions. Mike Connett, How are you? Ryan Herbert. Here we are. Second weekend in January brand New year, but things kind of still feel the same. How are you? Oh, my gosh. I just can't tell you how excited I am. 2020 is done, you know, and we are happy that it is behind us. But like every other new year we turn you know a new calendar over and we're talking about resolutions. Whether it's You know, wait laws. I'm going to join the Is that a college? I'm on the waistline. Is that it? Just never with you, Mike. But But but But with you, it's different because you are such an incredible Chef that it's kind of hard who await you and then being around you too, because you cook so good. Well, I said you made up for that way that way, But you're right. I mean, it's incredible. I mean, it's amazing. We hear and see all these commercials about all this resolutions that people wanted to, right. I mean, I see Jim commercials, health food commercials, you know, quality of life commercials. I mean, all these suits and quite frankly, all of them are good things to do, but From my perspective. Maybe it makes Justus much sense to take the same amount of time that you might do for whatever resolution you make. Take that same amount of time that you would commit to that resolution to making sure that resolution comes to fruition for yourself the same amount of time that you could spend on that over the next two or three weeks or months. How about spending that same amount of time on a resolution to get your financial affairs in order? Think about this? Take the same 5 to 10 hours over the next month or two to make sure the next 2030 or 40 years of your life. Spot on right because so many people just kind of show up at retirement, right? I see it all the time. They come into our office and like we had a great show on the radio. We saw you on television of, you know, a friend of mine gave you gave me your book. And it is great in there like we need to sit down and talk to you. And and Ryan and I are looking ourselves in like, you know, Dude, you're 70 years old. You haven't sat down with a financial planner. And they come in, and you know, it's like they have three annuities that bought from one guy and then literally this pot from somebody else. Some stocks from somebody some mutual funds that two different life insurance policies, and they literally have AH smorgasbord, but instead of it being on a tagging in or, you know, have a little Chinese food. You have a little Italian food. They have a little bit of, you know, Mediterranean food. They have a little bit of Russian food they have. I mean, it's just It's a massive and you can actually get a full meal out of it right now. You know what? My house we always have a complete meal, right? No, of course. But that's what your financial plan it should be like. You should have a comprehensive plan. And And I mean, think about this. If you're in the position right now, where? Where you recognized what I just said. If you recognize that look, you know, I haven't talked to a financial planner. I'm talking to some adviser Now. He doesn't even understand my taxes. I haven't had my state plan looked at in five or 10 years or since the last time I actually drafted it. I haven't had any of those things done. If you have multiple accounts scattered all over the place, and nothing's comprehensive, cohesive. You need to give us a call..
WCBM 680 AM
"ryan herbert" Discussed on WCBM 680 AM
"Quite frankly, if you broke even and made a little bit money this year, and you're paying tax on capital gains. You absolutely need to give Ryan and myself on our team of Colin. Sit down with us. Not only we're going to sit down and show you how to create those income streams that you and your spouse could never outlive. We have talked about how much your pain and fees you're gonna talk about how much risk were actually taken? We're gonna talk about long term care in a statement. And we are going to focus on taxes. You can not go through retirement losing 20 to 30% of your returns to taxes. That's insane. Give us a call 866597. 10 40. That's why Mike and Ryan say, How can a person provide investment advice without actually understanding the tax implications on that advice? It's right there in his best selling book, Nothing is certain, but death and taxes until now might connect. Ryan Herbert of Pro Status Financial Advisors Group ready to help you to and through retirement will give you a couple of minutes to call them. And set some time up with them for the new year for your retirement. Then up next, the Dow had a new milestone crossing 30,000 for the first time ever in 2020, But what does that mean for you? Some experts are calling it a warning sign. Also, we learned a new term. In 2020 with a lot of stimulus talk, P p p. What does that mean for you and your business? Lots of great conversation coming up next right here on the savvy investor, radio and savvy investor podcast..