On the Money with Secure Money: Episode 54

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Video Transcript

Randy Major – 00:21

Hello, and welcome to On The money with secure money. I’m your host, Randy major. Joining me today is president and founder of secure money advisors, Brian Quaranta. Hello, Brian.

Brian Quaranta – 00:32

Hello, Randy, how are you? Good to see you. Again. As always,

Randy Major – 00:34

I’m so happy to be here with you. I love your energy, I love your passion, we always have a great show. Let’s talk about where your passion came from. Because it is just amazing.

Brian Quaranta – 00:47

Well, you know what I mean, I grew up, I grew up working for my dad and my grandfather, that’s what happened. You know, my grandpa, my grandfather had a Kirby vacuum cleaner store, right? He repaired the repaired vacuum cleaners and my father had him at GM rewards store and working with my, my grandfather, my father, you know, they just taught me to really be one passionate about what you do. But treat people well and take care of people. Right. And so we’ve carried that over. You know, that’s part of my DNA. And, you know, if you, when you come to secure money advisors, and you meet the rest of my team, you know, that’s one thing that really makes us different, Randy is that is our culture. You know, my industry, the financial planning industry, there’s a lot of financial planners out there. And people will say, Well, what makes you different? Boy, I’ll tell you, not only our planning style, and how thorough we are, but it’s the team of people that you get to work with, at secure money advisors. And I’ve got countless emails over the years from clients that were starting with us that just have raved about how wonderful it was. And the experience was in, in working with our team, and how welcome they felt every time they came to the office, every time they got a phone call from the office. And it was just a really warm, easy transition for them. And as a business owner, right, not only a financial planner, but I’m also a business owner. Those are the greatest things you can hear and compliments that you can get. Because what it tells me is that a lot of what I believe in, and a lot of what I talk about to the team at the office, they’ve taken on that same attitude towards serving our clients.

Randy Major – 02:44

So let’s talk a little bit more about that your team and your approach to retirement planning.

Brian Quaranta – 02:49

Yeah, so our approach all revolves around the five key areas of planning, which are income, taxes, investments, health care, and legacy planning. And you have to have a team of people, you know, you go back 22, 23 years ago, when I first got started in the industry, most advisors really work individually on their own. They don’t have a team that surrounds them. And, you know, most people that I talk with, when I asked them, you know, what the reviews are like with their current advisor, you know, they say, we don’t really get reviews, we don’t see him too much, they don’t call us. And that’s usually because most advisors practice, you know, individually, and they don’t have a team of people at secure money advisors. When you if you decide that you want to become a client of ours, you actually get a dedicated team of people that work with you, on your case, on your issues. Because more people involved especially in the complicated world we live in today of financial planning, the more people involved, the better service you get, the better advice you get, right, and you feel better taken care of. And that’s what our approaches at secure money visor, it’s really all about number one and most importantly world class service. And very

Randy Major – 04:03

personal. And yeah, it is very personal to me, because it’s a lot more complicated than it used to be,

Brian Quaranta – 04:09

well, you have to trust the firm to that you’re working with, and you got to feel comfortable. You know, as much as you know, as much as the information is important. There’s also a trust element there. You know, people are going to move money to a financial firm, you kind of have to have the warm fuzzies about the people you’re going to be working with. If you’re going to move money to those individuals, you’re not going to move money to affirm that just doesn’t give you the warm fuzzies. Right. And that’s what our you know, I hate to be so basic about it, but it’s the truth. I mean, that’s what motivates people to take action. But I think what also motivates them to take action is not only the experience and the attitude and the energy that they pick up at the office, but it’s also the thoroughness in our planning model, and the simplicity in our planning model, and more and more people need simplicity built into their planning mind Because when things are simple, you’re more motivated to implement. And it’s easier to trust your process.

Randy Major – 05:07

Yeah. And that’s better than doing nothing. You know, it’s better a simple plan, you understand than just doing nothing about

Brian Quaranta – 05:13

it well, because when somebody gets confused about a topic, a confused mind does nothing. And I see this happen a lot, you and I have talked about this on past episodes, where people utilize research tools like Google, or Yahoo, or things along those lines, or in my world, you know, you know, I’ve been doing public events for 20 years. I mean, I can remember when I was doing educational events, nobody was out in the marketplace doing educational events, I was one of the only people out there doing them. Now, you know, if you’re watching this show today, you know, as well as I do, that, you could probably go out to dinner every night of the week on a financial advisor to a different restaurant every single night. And every time you go out, you hear a different story, you hear a different opinion, this person saying this, this person saying that, and again, a confused mind does nothing and we don’t take action. That’s the worst thing that we can do. Hmm.

Randy Major – 06:07

So when is the best time to really start making that solid retirement plan, Brian now. Right?

Brian Quaranta – 06:14

There’s no other better time than now. The sooner the better, right? I mean, it’s never too late. You know, I’ve had people come to the office in their mid 60s, with no game plan at all. No, no possible hopes of retirement. And we’ve shown them how to build a retirement very quickly. And that’s, that’s, you know, it’s no matter what we do in life, right? I mean, whether you’re trying to get in better shape, or you know, you’re trying to become a better parent, there’s people that have created systems and processes to be able to help you that there’s books out there that have been written. And what we’ve done is we’ve taken all of the noise, and we’ve simplified it, and we give you a really simple track to run on. And this is why we call it the right track retirement system, right, because it helps you get on the right track. Most people when they come in, the first thing they ask is, I just want to know if I’m on the right track. Now,

Randy Major – 07:17

right thing? Are most people on the right track?

Brian Quaranta – 07:20

No, no, no, because people are confused about what the difference is between investment planning and retirement planning. They’re two very different things. You see, most people think if they have a portfolio of mutual funds, or they have a 401k, or they have an IRA, that they have a retirement plan, that’s not a retirement plan. That’s an investment portfolio, retirement plan, you need to know what your income strategy is going to be. You need to know what your tax strategy is going to be your investment strategy, your healthcare strategy, your legacy strategy. And most people haven’t figured that out. Let’s take a married couple, for example, right? Let’s say you’re a married couple, and you want to retire? Well, depending on what your sources of income are, you know, 85 90% of the people retiring today, most people the only source of income that they’re going to have is Social Security. So let’s say you’re a married couple, and you both want to retire. So your wife’s gonna have a social security check, you’re gonna have social security check. So what is that going to add up to? Maybe 45,000 $50,000? Maybe, depending on how much you get in Social Security? What if you need 80,000 or $100,000 to live off where you’re going to get that extra income. But the other thing that people don’t understand when it comes to getting Complan is what happens to your income. When your spouse dies? You know, people think, Oh, we’ve got plenty of money. Well, you do right now. But what happens if your spouse dies? According to AARP? Randy, the average loss of income for a married couple when the spouse dies is 40%. Wow, can you imagine that? No. So now all of a sudden your spouse dies, and you got 40% less income tomorrow. Wow. And so now all of a sudden, you got to figure that out. This is why it’s secure money advisor when we build out the right track retirement plan, which we’re going to offer you here today complimentary, we’re going to show you what happened, what your income looks like while you’re living. What happens when your spouse dies, what that income drop would be. And now we’re going to be able to have all these bad things happen on paper and puts you in a position of strength and control to make sure that your retirement is on the right track regardless of what happens. So for the next 10 callers who call in right now we are going to offer you a complimentary right track retirement review. Folks, take advantage of it. Get a second opinion. Remember, you can’t get a second opinion from the person that gave you the first opinion. Call us today. 188838 to 1298. Again, 1-888-382-1298. You can schedule right now. Your complimentary right track retirement review.

Randy Major – 09:52

Folks right now is the time to find out if you’re in fact on the right track and Today’s offer is hard to pass up. So pick up the phone and give us a call 8883821298, we’re gonna go ahead and open the phone lines. And we’re going to take a quick commercial break and be right back with more.

Commercial Break – 10:09

So everybody can tell you how to invest your money. There’s not a lot of people out there and a lot of firms that can teach you how to use your money. Most people also tell you that they’re scared. And the reason they’re scared is because they’re afraid of running out of money. The last thing you want to do is have a really good job and you’re in your 60s retire, be looking for work again, in your late 70s, the average person might say, well, good portfolio would be a good mix of stocks, bonds, mutual funds, not a good portfolio is all designed around the five key areas, income, taxes, investments, health care and legacy planning. It’s we’re not just product pickers here, what we do best here as we build retirement plans, nine out of 10 people, when they walk through the door would ask us, we just want to know if we’re on the right track. And I always say if you’re not on the right track, when would be a good time to know it. Probably now, people you know can actually see a vision once we start to really build out their plan. This is about you, if you’re not getting what you need. And you feel that when you walk out of the advisors office, it’s time to get a second opinion. And you can’t get a second opinion from the person that gave you the first thing. The difference at secure money advisors, as a fiduciary firm, we help you manage the risk, build the income, and give you there retirement.

Randy Major – 11:39

Welcome back to On the money with secure money. I’m your host, Randy major, and I’m chatting with Brian Quaranta. Today, Brian is the president and founder of secure money advisors having a great show today. Brian, I know how busy you are in the office. And I was curious, what are the biggest concerns of your clients today? Because there’s a lot going on in the world out there. Yeah,

Brian Quaranta – 11:58

there is. Big concerns are taxes. People are always concerned about taxes, although it’s amazing to me how many people are concerned about taxes, but don’t do anything about it? Well, that’s good. You’re not getting any advice on how to get rid of the tax situation. So but the other one is, when can I retire? You know, most people want to know a date. I think that’s the best part about what we do. It’s so fun to roll up our sleeves with somebody. And you know, we’ve got these big screen TVs in the office and we lay out their whole plan on the screens. And we look at different retirement dates, you know, and we say, Okay, well, let’s look at a 62 retirement day, let’s maybe look at a 63, maybe a 66 retirement date. And here’s what it does for our clients that are still working. For our clients that are still working, they have a plan, which means that they’re in a position of strength now with their employer. What do I mean by that? If they wake up one day and say, You know what, I’m done. I don’t want to do this anymore. They can walk in and say I’m done. Most people don’t have that power, because they don’t know whether or not they can retire, when you finally commit to putting together a plan. And knowing exactly when you’re going to be able to retire based on some really simple conservative key word there conservative fundamentals, you are going to be in a position to be able to do what you want, when you want. And you’re going to feel differently. I’ve so many people who say I just feel differently going into work right now. Because I know if you just you know, rubbed me the wrong way today, I can just say I’m done. Because I’ve already figured out my retirement. I mean, think about the power in that, you know, and just how much happier you are, without having that that burden hanging over your head of this, this big thing that you know is coming down the pipeline, and you haven’t figured out yet, right. And I would encourage all of you to not kick the can down the road. Don’t procrastinate when it comes to putting together your retirement. Because it does matter. It is what gives you security it is what gives you peace of mind. Knowing is all about being in a position of strength.

Randy Major – 14:14

It’s a it’s a huge decision to make. So I love how you lay it all out, weigh out the options and work with your client to decide what’s best for them. Yeah, right. How good does it feel when you get to tell someone? Okay, you’re good. You can retire now.

Brian Quaranta – 14:30

Yeah, you know, what’s what I love about it more than anything is that it’s not our opinion. We’re actually looking at the black and white math, right? And we’re looking at the math based on very conservative numbers. And when you look at the math on very conservative numbers, and you can figure out where it’s going to work even with a margin of risk in it. Boy, I’ll tell you, you know, you can just I mean the we’ve had people many people cry I in our own conference rooms. And it’s actually really special for us, when we see it happen, we actually keep lots of tissues in the conference room for that reason, because it is emotional for people. It is emotional, because a lot of people are out there, and they’re working so hard to take care of their families, right. And they’re not getting good advice of what to do. They might have, you know, an advisor that, oh, he comes to the workplace every once in a while, or I got the guy at the bank, but nobody’s ever taken them by the hand and said, let me take you down the right track here and show you exactly when you can get off this train, and start enjoying your retirement and do all the things you want to do. Because I’ve seen so many people that don’t get it figured out right in my own family, right? That just they work and work and work and work and work and work. And they never figure anything out. And then eventually they retire and they die. Wounds you what if you could retire early and start living retirement right now? What if you could retire years earlier than what you thought? You know, how much would that change your life. And those stories happen all the time at secure money advisors, most people don’t realize all the good that they’ve done, because they just been squirreling it away for years and years and years. And nobody has taken the time to show them how to use the money as a tool. The money is a tool to actually accomplish something in your life called freedom. That’s what it’s designed to do. It’s designed to give you freedom. It’s designed to give you your time back. When you understand what we understand at secure money advisors, you now look at your money differently. And you say this is a tool for me to be able to get my time back to do the things I want to do when I want to do them. And, Brian,

Randy Major – 16:46

this is why it’s so important to work with a licensed fiduciary. You know, I heard that on the commercial break. And I know there’s some viewers at home that might not have heard that term. So could you

Brian Quaranta – 16:56

explain? Yeah, I mean, a fiduciary firm is really just somebody that’s held to a higher standard of responsibility, making sure that we’re doing what’s in the best interest. But the more important thing of a fiduciary is that we’re not beholden to any one company or one specific product, right? I mean, look at it like this. If you go to the butcher, okay, the butcher is probably going to sell your meat, right? He’s not going to sell you any fish. He’s a butcher, okay. Now, if you go to your dietitian, the dietician is going to say, you just can’t have all meat on your plate here. Okay, you got to have some vegetables, you got to have some potatoes, and you got to have some proteins. The fiduciary is like the dietician, we know you have to have a balanced approach, right? Whereas the stock broker might be the butcher, I’m just going to sell your stocks, bonds and mutual funds, right. There’s no other game plan here. Other than that, well, that’s not a plan, okay? The dietician gives you a plan. It’s a balanced approach. And that’s what a fiduciary does. Our job is to take all of the financial products and strategies out there and put them together in a way that creates you a plan that actually gets you to where you want to be. And that’s retired and getting your time back so that you can do all the things you want to do like spend time with your family, your grandkids, traveled the world, whatever you want to do. But now time is yours, and you’re not giving that time to somebody else, you no longer have to trade time for money, the money you’ve accumulated now is working for you.

Randy Major – 18:31

And speaking of time, Brian, it only takes an hour, an hour of your time to sit down with Brian and his team and a phone call today. And ladies and gentlemen, the phone lines are open right now, Brian has a great offer for you to take advantage of Brian, let’s remind the viewer of what that is,

Brian Quaranta – 18:46

folks, a complimentary right track retirement review is exactly what you need right now, at this point your life, some of you out there probably have been looking for somebody to get a good financial plan from this is your opportunity to do it at no additional cost. It’s complimentary, you’re going to come up to our office meet with our team. I know the process of going to a financial firm can probably be intimidating, but it’s not when you come to secure money advisors. Because we’ve made it a very simple and easy to understand process. We know what to ask you. We know how to bring you through the right track retirement system. So you finally have a clearer picture of what a retirement plan should look like. That’ll give you a peace of mind and security that you deserve going into retirement will cover all the five key areas that we talk about all the time, income taxes, investments, health care and legacy planning. My promise to you is that over that 45 minute to an hour, you will get a lot of clarity out of that meaning and you’ll get a lot of direction of what you should be doing and changes that could actually benefit you and teach you how to take 35, 40 years worth of work and get that money to start working. For you, that’s a right track. Retirement review complimentary no cost 1-888-382-1298, pick up the phone right now and call us and schedule, don’t procrastinate on this 18883821298.

Randy Major – 20:15

It’s an absolute no brainer. If you asked me, Brian to the viewers at home, those phone lines are open the first 10 callers get to take advantage of this special offer, please do give us a call 88838 to 1298, we’re going to take a very short break. And we’ll be back with more.

Brian Quaranta – 20:30

If I could help you increase your income. If I could help you pay less taxes, if I could help you potentially maximize the returns of your investments while reducing risk reducing fees if I could help you prepare for a health event or more importantly, when the good Lord decides to take you home to make sure that the money you’ve accumulated over your lifetime goes to your family and to your charities rather than the IRS. Would that be worth the time to come in and get a second opinion.

Randy Major – 21:00

Welcome back to On the money with secure money. I’m your host, Randy major. I’m here with Brian Quaranta of secure money advisors. Now, Brian, you mentioned something just before we went to break the word intimidating, yeah, that really struck a chord because money is so personal. And I know that so many people it’s sounding like something they want to do, but they’re afraid

Brian Quaranta – 21:20

they’re afraid, yeah, they’re afraid they’re gonna be sold something, they’re afraid something’s gonna lead them down the wrong road, whatever it might be, you know, some people are just intimidated the process of having to open up their financial situation to a stranger. That’s an intimidating process. But, you know, one of the things that we do really well at secure money is there’s no judgment, based on where you’re at. It’s very simple to us, you know, we’re like a doctor, I mean, all we’re doing is looking to see what the diagnosis is, right? And everybody’s diagnosis a little bit different, right, this person has saved enough money, but they’ve got a big tax problem, this person hasn’t saved enough money, they’re going to need to save a little bit more, this person is not going to have enough income, and we’re going to need to generate income. So those are our diagnosis, right? And then from there, we can prescribe the remedy that can fix that. But you got to look at us more as doctors, then, you know, then then then people that are going to sell a financial because that’s not what we do. We’re there to help solve a problem. So what your job is, when you come in, is to just show us where the challenges are. Right? When you show us where the challenges are, we can show you and teach you what are going to be the best tools and solutions to help solve those problems for you.

Randy Major – 22:46

Now, let me ask you this, because I know there’s another factor that could be holding people back from calling and that’s fees. Let’s talk about fees

Brian Quaranta – 22:54

a little bit. Yeah, well, first off, our review is complimentary, there’s no cost to do that. You know, and secure money advisors, we are a fee based firm, we’re very reasonable in the fees based on what we’re managing. You know, so I think that people need to understand that when you work with a fiduciary firm, in order for you to actually start working with them by law, right? Again, the fiduciary is held to the highest standard, by law, we have to be completely transparent about any cost that would be associated with working with us. And that’s a conversation that we have, when we get to that point with the client of how much it’s gonna cost to work with us. But for you to take time to come in, it’s not very often that you get to sit down with a fiduciary firm, and not pay anything to actually get a real financial review. You know, I know, you know, I know other fiduciaries in the local area that charge 1500 to $2,000. Just to build a plan, we’re actually going to give you a complimentary view, that’s probably worth 1500 to $2,000. At no cost to you.

Randy Major – 24:06

So when a new client comes in, and you take a peek at a plan, they’ve already had enough to you find fees that they didn’t even know about sometimes

Brian Quaranta – 24:14

Well, it’s a big part of the conversation is, you know, where are the hidden fees? Right, and with certain financial products like annuities and mutual funds, a lot of those fees are not disclosed. 401 K’s fees are not disclosed on the statements. So, you got to dig deep into the contracts to find that out. And certainly, I don’t have a problem with people paying money for help. But I do have a problem with people paying for things and not getting what they should be getting. Right. So for example, if I’m going to pay a fee, I’ve got no problem paying a fee if I’m getting a good return, or I’m getting good, good service. But if you’re paying exorbitant fees, and you’re not getting good returns and you’re taking a lot of risk, and you’re not getting the level of service you Should there’s no reason to continue to pay though absorbent fees. And there’s a balance there. So you’re going to pay no matter where you go. Right? The question is, are you getting what you should be getting for the cost that you’re paying?

Randy Major – 25:13

Right? So totally worth coming in and diving and getting a better look at, you know, the plan you have in place?

Brian Quaranta – 25:20

Well, it gives you a lot of clarity of where you stand, right? Once you know where you are, it legitimately know where you are black and white. Now you can make good decisions of where you need to go.

Randy Major – 25:32

Alright, Brian, we just have a couple minutes left in the show. So we’re going to go ahead and take a viewer question. All right, so I have Daniel in green tree, he says, call me a nerd. But I’ve always had fun researching and then buying and selling stocks as a hobby. However, my wife isn’t too thrilled about me continuing this hobby as we get into retirement, which is only a couple years away. Now. Any advice on a way for us to find some middle ground here?

Brian Quaranta – 25:55

Yeah, we see this a lot, right? You know, the, you know, somebody has, they enjoy the hobby of trading, you know, they’re up early in the morning, they’re trading all day. You know, it’s fun at first. But now the spouse wants to go out and do things and retirement, and this guy’s got to stay here and manage the investments. Plus, the other scary part about it is, if he if he dies, think about the position his wife’s gonna be in, she’s never dealt with this before. So now think about the monumental task that’s now in front of her, he dies, she knows nothing about this, right. And now she has to go out there and find a financial firm on her own, knowing nothing about finances, to help her now, for the rest of her life, the better choice is for him to still keep some money that he can manage on his own, but build a relationship with a firm, that he knows that when he dies, his spouse is going to be in good hands. But you know what happens over the long term? Randy, most of these individuals that invest themselves get to a point in life. They don’t want to do it anymore, right? They just want their time back. They don’t want to be, you know, watching the markets every day. But this is what our right track Retirement System is all about. This is why we give you the complimentary review on every show. Because you deserve it. You deserve to figure out whether or not you’re on the right track. And if you weren’t on the right track, when would you want to know call us today schedule that retirement review with us? 18883821298. Folks don’t kick the can down the road. This is not a time to procrastinate. This is an opportunity for you to get clarity and peace of mind when it comes to retirement planning. 18883821298

Randy Major – 27:46

Brian, thank you so very much and to the viewers at home. Thank you. We hope you have a beautiful rest of your day. We’ll see you next week.