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You’re traveling the world and traveling the country, compared to the person that might just be staying home taking care of their grandkids, and tending to their garden, it’s a different rate, the cost of their living, or the cost of their inflation is much, much different, much because travel is up 40% gas’s up 100%. Right. And it’s costing more to do those things.
You’re traveling the world and traveling the country, compared to the person that might just be staying home taking care of their grandkids, and tending to their garden, it’s a different rate, the cost of their living, or the cost of their inflation is much, much different, much because travel is up 40% gas’s up 100%. Right. And it’s costing more to do those things.
Well, what you’re talking about, is the pension disappearing, right? I mean, 85-90% of the people that are retiring are not getting pensions anymore. So that statement that we’re looking at, really is their pension, correct? And nobody is teaching people and showing them the proper way to use that money.
I know you and I were taught, you know, 20 plus years ago, at the big box firms, we were both talking about the whole, you know, moderately conservative, you know, moderately aggressive, that whole strategy, and none of it really made any sense. But today, because of technology, we’re actually able to quantify risk in the form of a number.
And what Wall Street needs is time with your money. But when you don’t have time, Wall Street’s not the place for the money. Now you could have Wall Street in some portion of the plan. But you can’t have it in all.
How much more could you lose by having to take money out of your accounts too early? How much could you lose by not getting the tax strategy right and having to overpay in taxes, remember, up to 85% of security benefit could become taxable. And so, all of these things take into account and the thing is, is that if you’re going to maximize the first thing you have to do is not lose, right?
In an up market. And at the top of the bull market. If you look at if you look at the statistics, you have a higher probability of running out of money if you retire at the top of a bull market, because you have a higher probability that when you’re going to start pulling money out of your accounts, that the market might be going down. And that’s what’s happened in the first part of 2022.
I think it’s a combination of quite a few things. But you know, you look at a 12-year bull market run. Yeah, you know, that kind of lulls you to sleep a little bit right, you guys? False sense of confidence. And we’re talking about inflation. So, let’s talk about inflation.
I’ll tell you, the reason why people don’t really take Social Security serious is because when they talk to everybody, they say delay, delay, delay, delay, right? Well, that’s it. That’s not an answer. Delaying is not an answer, we really have to figure this out mathematically.
