Tune into one of the television stations listed below to get live retirement advice from Brian Quaranta!

  • Friday: WPGH Fox 53 – 9:00 am – 9:30 am
  • Sunday: WPNT CW – 8:00 am – 8:30 am
  • Sunday: WPGH Fox 53 – 10:30 am – 11:00 am
  • Sunday: KDKA – 12:00 pm – 12:30 pm
  • Monday: WPGH Fox 53 – 9:00 am – 9:30 am

Video Transcript

Cynthia De Fazio – 00:19

Welcome to retirement You TV, my name is Cynthia de Fazio. I’m joined today by Brian Quaranta He is president and founder of secure money advisors. How did I do?

Brian Quaranta – 00:32

You did good. Yeah, we still got a little bit of the art in there. But we’re getting ready, you know, It was butchered all my life. So I have to go with Brian Q, just think about all the good we’re doing for charity, you know, every time gets my name wrong, you know, we were giving the charities. So, which we should be given to charity for a long time.

Cynthia De Fazio – 00:53

Now we gotta be close to a million dollars, a year and a half again. And the funny thing is, Brian, you still have the original phonetic spelling. And so anyway, how are you. Great, good to see. It’s so good to see you too. Let me ask you a question. Cuz I know that obviously, things have been so extraordinarily busy for you, Brian, what is life like in the office? And how are you balancing at all right now?

Brian Quaranta – 01:20

Very busy. You know, I think the biggest challenge that most people are dealing with is the fact that, you know, we’re dealing today with really kind of a retirement crisis, because 85 to 90% of the people retiring today are just not retirement pensions. So more and more people are seeking financial advice, because the responsibility of generating retirement income falls on them. You know, if you go back 30, 40 years ago, retirement planning was really, really simple. Sure, you know, you when you retired, you probably got a gold watch. Yeah. You know, you knew your retirement date. Absolutely. It was marked on the calendar, you know, what, if you gave the company enough time, they would let you retire maybe after 25 or 30 years, and you’d have retirement parties? Absolutely, you don’t see that anymore. Because, you know, today, employers have replaced guaranteed pensions with 401k plans. And really, what that means is it means you’re on your own, you know, we call it the yo yo retirement plan, you’re on your own, and you’ve got to figure out now how to generate that retirement income for the rest of your life. So, you know, our office is extremely busy. Because, you know, with everything that’s gone on with the pandemic, more and more people are taking early retirement, or they’re getting bought out right, meaning, you know, the companies are buying them out and letting them retire earlier than than what they could Oh, so people are calling the office and saying, Look, my number one concern right now, is the fact that I want to enter into retirement. And the only source of income that my wife and I are going to have is social security. And for most people, it’s just not enough. I mean, social security was designed to cover maybe about 40% of the income. Yeah. And so what’s happening is people are they’re, they’re scared. I mean, I want to say scared, they’re just they need to, they’re anxious, they need to they need a system to be able to generate this income. Because if you think you’re just going to go into your 401k plan or your IRA accounts and start withdrawing money with no system or process, think again, because that’s what’s going to lead you to potentially run out of money, which for most retirees is the biggest fear, according to AARP.

Cynthia De Fazio – 03:20

Absolutely. In fact, I know that study that was done, they showed that most people were afraid of dying. Yeah, you know, it was serious, right. But running out of money was even on top of that.

Brian Quaranta – 03:29

That’s fear. They fear running out of money more than death alone. That’s amazing.

Cynthia De Fazio – 03:33

Yes. Amazing when you think about it, because I think no one wants to be a burden on their children. If

Brian Quaranta – 03:37

I would feel that way, though. Would you feel that way? I mean, I if I ran out of money, I think I think I’d rather die than running. Yeah. Yeah. Because I mean, now what, you know, you’re, you’re maybe in your mid 80s. And you’re out of money. You don’t even have the health, the physical health to even go back to work.

Cynthia De Fazio – 03:57

Really, I know. And you don’t want to unless you choose to, let’s say for argument’s sake that you retire, but you’d like want to do something, right? You want it to be a choice, and you want to know that you’re guaranteed guaranteed income streams are going to be there. So that working is not mandatory, but it’s optional. Brian, let’s talk a little bit about what you’ve designed the right track system. Let’s go into that a little bit.

Brian Quaranta – 04:18

Well, yeah, the right track retirement is all based around determining whether or not you’re on the right track. And the reason why we put it we put it together is because the number one question I get every single day at the office is we want to know if we’re on the right track. Well, how do you know if you’re on the right track? Yeah, I mean, for most people, they just don’t know because nobody has helped them understand what the right track really means. Sure, the right track isn’t just having a mix of investments and hoping for the best. the right track really focuses on five key areas number one of most importantly is income. Sure, because when we retire, the paychecks gonna stop. Yeah, but bills, taxes, all the things that you want to do, that’s not gonna stop. So we have To replace that paycheck, so income becomes the number one priority. So how are we going to create income? But not only that, how are we going to do it in the most tax efficient way? So taxes becomes number two, because taxes will be the biggest rotor of people’s wealth. And what I mean by that is, let’s, I’ll use a very extreme example here. So let’s just say somebody needed $10,000 a month from their retirement account. And let’s just say that they’re in a 20% tax bracket, okay. Well, distribution of your retirement assets is much, much different than the accumulation of your retirement assets. Because when we distribute money, most retirement accounts have been tax deferred, which means people got a tax deduction for putting money in, okay, now, when they withdraw it, they have to pay taxes on it. So let’s say an individual wants $10,000 a month, and they withdraw that $10,000 in an order 20% tax bracket? Well, that means they’re only netting out $1,000. Right. Sure. What happens if taxes go to 40%? Wow, you know, if you ask most people, you say, you know, you think taxes are going up or down in the future? You know, almost 100% of people will say, I believe they’re going up? Sure, it’s hard not to believe that they’re not going up. So can we possibly avoid that? Brian? Yeah, we are with our debt as a country. Absolutely. Yeah. So So number three is investments because the investments that got you to retirement are not the same investments that are going to get you through retirement. So the strategies, the techniques that we’ve used to accumulate the money are not the same strategies and techniques that we use to distribute the money. It’s a completely different ballgame.

Cynthia De Fazio – 06:26

I love that you mentioned that, Brian, because it’s so important to work with someone who specializes in the distribution phase of life versus the accumulation phase when you’re entering retirement, because there is a difference. There’s a big difference.

Brian Quaranta – 06:36

There’s a big difference. And the last two things are, are your health care, right? Because how are you going to, you know, if you want to retire before the age of 65, you can’t qualify for Medicare, right? So you got to make sure you have a good health care plan. And then number five is when the good Lord decides to take you home, you certainly don’t want to make the IRS your largest beneficiary. And they’ve done a good job in making you your largest beneficiary. Because the secure Act, which was signed into law in 2019, which we can talk about on the next segment, sure, really has made the IRS one of the largest beneficiaries. And folks, you don’t want to miss the next segment when I talk about the secure act, because the secure act probably was one of the biggest tax grabs we’ve seen in history when it comes to retirement accounts. So for the next 10 callers who call in right now, we’re actually going to be given away a complimentary no obligation meeting for the right track retirement system. And we’re really going to help you determine whether or not you are on the right track. So the things that I’ll hear most of the time is people say, you know, Brian, I just don’t know when to take my Social Security, what would be the best time to do that. Or they’ll tell me, they’re not going to be getting a pension. And they need to know how to generate monthly income from the retirement savings they have. Or they’ll tell me, Brian, I’m at a point in my life where I can’t afford to take another big loss in the market, because I just don’t have the time to recover. the right track retirement system will bring you through those five key areas that Cynthia and I just talked about income, taxes, investments, health care, and legacy planning. So if you call 18883821298. Again, that’s 1-888-382-1298. Schedule your complimentary no obligation meeting today.

Cynthia De Fazio – 08:14

Brian, thank you so much, you couldn’t have said it better. I think it’s the perfect time for us to open up the phone lines to the viewers at home. Once again, as Brian mentioned, that phone number to call is on your screen. That number is 888-382-1298. You’ve worked your entire lives to get to the retirement phase. Don’t you want to do that with confidence and know that you’re on the right track? For the next 10 callers, Brian is offering you the complimentary consultation, so please don’t miss the opportunity to sit with Brian. The number again is 888-382-1298. We’ll be right back after this very short commercial break and talk a little bit more about the secure act. So please stay tuned.

Commercial Break – 8:50:00 AM

How confident are you in your current financial plan? Do you know with certainty how the recent market volatility will affect your future hopes and dreams? How much are you paying in taxes? And how much are you losing to unnecessary high fees? You didn’t work to save this money so that you could spend your time worried in retirement. Now is the time to take charge of your finances so you can feel confident about your future call in during the next 30 minutes of today’s show only to set up an absolutely complimentary no obligation, full blown Financial Review that will result in your own customized written plan. This is a $999 value that we’re giving away complimentary to the first 10 people who respond. We’ll start with a full blown analysis of what you already have, by running a report to untangle how much you are currently paying in fees, how you’re allocated for risk, and what it’s costing to work with your current advisor. Next, we’ll identify your goals. Where do you see yourself in the next five years? Where do you want to go? And who do you hope to go there with you? Your current financial plan set up to get you there without mishap. Let’s design a roadmap to create a financial plan you can follow with confidence. Get the piece that so many people are missing from their retirement. Find out how having a written plan can make a difference to your retirement dreams. Call now to schedule your complimentary no obligation full blown Financial Review today.

Cynthia De Fazio – 10:24

And welcome back to retirement You TV. My name is Cynthia de Fazio. I’m joined today by Brian Quaranta the president and founder of secure money advisors. I’m telling you, we need the fishbowl, right. I know, I know, we could just keep dropping in quarters and so focused on not saying they are they are anyway.

Brian Quaranta – 10:45

That’s my dad was known as Mr. Q. My grandfather was known as Mr. Q, right. I mean, when people, everybody the office calls me be Q. Brian Q, because it’s just much easier.