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Video Transcript
Rob 00:22
Welcome back to On the Money. I’m Rob Hurtig. I’m here with my good friend Brian Quaranta. Brian, how are we doing?
Brian Quaranta 00:26
Rob? How are you? Good to see you as always,
Rob 00:28
Man, always it’s good to see you, love being here, love talking about this stuff with you. I know. It’s vitally important. Yeah, well, security is vitally important. Yeah.
Rob 00:34
So, the funny thing you said, Social security. For some people, that’s like a dirty word. Right? They hear social security. And they think it’s for who?
Brian Quaranta 00:40
People without money.
Rob 00:41
But you and I are only talking about one group of people here.
Brian Quaranta 00:43
Yeah, the people with money need to understand how to do social security, because they are the ones that can benefit the most from some of the maximization strategy,
Rob 00:50
they also have the most to lose by not running it, right. Yes, the guys that don’t have any money that haven’t saved, they’ve got nothing to lose, they’d rather lose. And we’re not talking to me. If you want to plan if you’re a guy that hasn’t saved for retirement, you want to plan with security to what it is just work as
Brian Quaranta 01:02
long as you can save as much as you can and delay, delay, delay, and save as much.
Rob 01:07
So, we’ve gotten that part out of the way. So yeah, people if you don’t have any money, we’re not talking to you if you have other assets we actually are. And I’m not saying if you know, if you don’t have money, we don’t want to talk to you because we do want
Brian Quaranta 01:17
to help. It’s just as far as the sole Security Maximization goes it, they’ve taken so many of the strategies away that the only way you can really maximize it is actually to delay and utilize other assets.
Rob 01:27
Actually, a really good segue right, next point here, Brian, because a lot of people say “what do I care? Social security hasn’t changed,” but it has changed multiple times.
Brian Quaranta 01:35
Multiple times. Yeah. I mean, it’s changed in what, ’83. Right? Yeah. Reagan, Reagan first tax in 83. It was supposed to not be taxed. Roosevelt said it wouldn’t be taxed. Right. Yeah. Well, if he said, as long as I’m alive, right, it’ll never be tagged and wouldn’t ever be taxed it was this anybody? Right? Yes. So, at three, it got taxed. Right. And then Clinton tax it again, right, right in the 90s. And so now we’ve got 50%, all the way up to 85% of the Social Security becoming taxable. And not only that, in 2015, with a Bipartisan Budget Act, they voted to take all your filing strategies away. Right. And that was a big one. They did that at night, when nobody was watching was almost like an increase in taxation on the benefit or reduction of benefit. Right now. They’re talking about a big change in 10 to 15 years, right? Because it’s going to they’re worried about it being insolvent. Yeah. Well, that’s why we created the retirement readiness report and the Social Security Maximization report because people need to know how this all fits into the puzzle for the retirement planning, because it takes into account everything, Rob? Yeah, you can’t just isolate out this, as you know, let me go to school security’s website. Let me figure out my calculation and figure out my Delaine there’s so many other pieces of the puzzle, including how to utilize your other assets cuz you got 85% of the people today retire without pensions. Right, and the retirement 401 K’s which replaced the pensions. So now how do you work that into a strategy that actually helps you maximize your soul security?
Rob 02:47
So, I was thinking about the people that are retiring today, and the biggest percentage of retirement or a society that’s ever retired, the United States is retiring now, right, the boomer generation, and there’s so many moving pieces in the normal person’s retire for 18 years, that average person, and that average person maybe sees one down turn market to during that 18 year period. Yep. What are we facing right now?
Brian Quaranta 03:06
Well, it’s the worst time we’ve ever seen in history at rising interest rates, right? We’ve got volatile markets. Yeah, it’s a very scary time, the worst time to start taking money out of your retirement accounts, by the way is when the markets going down. Right, right. So, you got to be very careful in the way that you approach retirement, or even if you’re in retirement, you got to rethink about how you might be taking income, right? Because if you’re taking income from a portfolio that’s invested in the market, and you’re down right now, you could actually be increasing the probability of yourself running out of money sooner than later.
Rob 03:34
Right? If you’ve taken from a portfolio that you have massive gains on to there’s tax consequences for that, right. There’s things that people aren’t looking at, and all this stuff works together. These things are not in independent. They’re interdependent, right.
Brian Quaranta 03:46
That’s right. That’s right. And you know, and 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, that’s not an answer, delay, and is not an answer, we really have to figure this out mathematically. And this is why we developed a Social Security Maximization report along with the retirement Readiness Review, because people need to understand how all the pieces of the puzzle fit together. So, they can get a report laid out in front of you and figure out, okay, if I choose Option A, B, or C, this is going to be the better approach. And the reality is everybody’s situation is so different, because the pensions gone away, and everybody has different amounts in their 401 K’s. Everybody’s got a different health report. Right, right. Not everybody is super healthy going into retirement either. Isn’t that plays a big role in it? No, you’re
Rob 04:32
absolutely right. Has there ever been a more advantageous time in history to really put together a comprehensive retirement plan where you look at everything you look at the Social Security Maximization report, you look at your streams of income, you look at your tax efficiency tax codes on our side right now, right?
Brian Quaranta 04:45
Yeah, the tax code’s the lowest it has ever been think about how much they could be missing out on as far as additional income they could be getting right, or how much they could potentially lose in taxes by not getting this right.
Rob 04:58
So, you know, it’s interesting when people look so Security, the only look at what I would lose and just my security benefit by not filing at the right time, right? But it’s so much bigger than that.
Brian Quaranta 05:06
It’s so much bigger. 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?
Rob 05:24
What if your financial advisor, some professional, some guy at work, told you to wait as long as you can to file and meanwhile, you’re spending all your assets down at the same time? And what if you pass away right after that? Right? You’ve when you all your assets, yes, you use none of their money, and you have nothing left for your children or your spouse.
Brian Quaranta 05:39
That’s right. And you’ve spent down your entire life savings that you spent the last 3540 years accumulating, sacrificing not going on vacations, not spending time building memories with your family. Right now, if you get your Social Security and your income strategy, right from your portfolio, this is where we could pay less in taxes, we could have more cash flow on a monthly basis to do the things we wanted to create more memories. Think about that how many people out there are not creating the memories that they want to be with their families, because they’re afraid to spend their money because nobody’s ever taught them how to properly take what they’ve accumulated over the course of their 3540 years worth of working along with Social Security and create a cash flow plan that actually maximizes the amount of money they get on a monthly basis.
Rob 06:22
I don’t know if you want to tell the story or not. But you told me a story earlier, about an 83-year-old who was scared to spend his money. Do you remember that? I do. I tell the story. I mean, it’s I think it’s impactful.
Brian Quaranta 06:31
He came in, I was talking to him about his RMDs and how much he was going to have to pay in taxes. And he had over $3 million. And he started crying. And he said, you know, Brian, he says, this is a shame because I never spent any of this money. I never did anything because I was scared to spend it. I didn’t know if I was going to run out or not. And now I’m finding out that 40% of my money is going to have to go to the IRS, when I could have spent that money creating memories with my families doing the things that I wanted to do.
Rob 06:57
It’s terrible. So don’t have fear of loss or fear of missing out have a plan and thrive. There’s a way to do it right?
Brian Quaranta 07:01
Well, people are missing out. That’s the thing. And they need to get their head out of the sand because they are missing out on figuring out what are the best strategies. And it’s because nobody has ever taken the time to mathematically quantify it for them and show them an approach that actually gets them more than what they could get if they tried to do it on their own. You ever tried to go to social security and do an analysis on their calculator? And I’m in the business? Yes, tough.
Rob 07:24
There’s a lot of parameters there.
Brian Quaranta 07:25
Yeah. And you and I work with financial advisors all over the country. And it’s very difficult. They tell us all the time when people come in, and they’re super confused on what to do. And most of the big box, you know, retail brokerage firms, just tell them to just delay it, just delay it for as long as you can, because it’s how they get paid. And they’re not worried about if you tell someone to delay, you know, social security, right? I mean, you know, we’re delayed taking their own money, right, that could potentially mean that you know, what happens with these big box firms is they manage their money for so long. They think it’s actually theirs, right?
Rob 07:55
That’s right. Okay, actually, I think that we’re going to break right now tell people what they can do. How can we prevent this from happening? You have to look at everything. You can’t just look at one folks, the
Brian Quaranta 08:02
retirement readiness kit. I mean, it’s really the best thing you could possibly get called 1-888-382-1298. Scan the QR code down at the bottom, get the retirement readiness kit along with the Social Security Maximization report.
Announcer 08:14
Call 888-382-1298 to receive your complimentary retirement Readiness Review and Social Security Maximization record, get the most from your Social Security payments, find a strategy that maximizes your Social Security benefit and preserves the assets you’ve saved for retirement. Social Security seems easy, right? The question is, should you take it now or later, there are numerous ways to file for Social Security. The decisions you make can also affect how much you pay in taxes you paid into Social Security for decades now get the most out of your Social Security benefit, call Brian and his team 888-382-1298 for your complimentary retirement Readiness Review and Social Security Maximization report. Now you need to build that into a retirement income plan with all your assets. Call Brian and his team right now. 888-382-1298 To receive your complimentary retirement Readiness Review and Social Security Maximization report or use a QR code on the screen to schedule your appointment today.
Rob 09:15
Welcome to on the money with secure money. I’m Rob Hurtig. Brian,
Brian Quaranta 09:18
Rob, good to see you. I know we’re talking about legacy planning today. Hmm. Topic.
Rob 09:23
It is. It is a big topic, but I think people think about it incorrectly. Or maybe they think about it in the wrong order. Right? Yeah. People think about ‘what do I want to do with my money once I’m gone,’ right, but they don’t think about what comes first. And ‘does my current plan get me to and through retirement?’
Brian Quaranta 09:36
Well, it’s a great point, because if you think about how we get to estate planning, it all starts with the retirement plan itself. Because what people don’t realize is that the actual most important document, they own is something called their beneficiary document. Right. And that beneficiary document comes on IRAs, Roth IRAs, 401 K’s life insurance policies. And the way the law works is it says that document trumps every other document out there, including your will your trust all of that stuff.
Rob 10:04
You know what’s a good example of that. Red Fox, everybody knows who Red Fox is: comedian Sanford and Son. Yeah. When he passed away, which I guess it really wasn’t all that long ago, right. Within the last 10 years, probably. He’d been married a number of times throughout his life, right? In his money. What was left from his life insurance went to his ex-wife two times removed. Yes, right. That’s just a quick example of incorrect legacy planning or legacy planning. That’s never been updated, right?
Brian Quaranta 10:31
How many people out there are being disinherited because of a wrong beneficiary form?
Rob 10:35
I’ve heard about the ex-wife story, a multitude of times.
Brian Quaranta 10:39
A multitude of times! I mean, I’ve met these people, right. And this is just in western Pennsylvania think about what’s going on nationwide, right. And the courts have said that the beneficiary document will trump everything. So, if you don’t change it, or you change it to the wrong person, I hate to tell you, it doesn’t matter what your Willard Trust says, You’re gonna have problems where you want that money to go.
Rob 10:58
We’ve talked about Prince’s estate too. And he really didn’t leave his intentions, right. And now they’re saying his $500 million estate is going to be eroded by 50%. That’s $250 million, just because he didn’t have a plan on the front side. You know, I think there’s
Brian Quaranta 11:10
Not only that, but think about how long he’s been gone.
Rob 11:12
Oh, is it 10 years now?
Brian Quaranta 11:14
It’s been a quite a while since he’s been a long time. I mean, and he’s still caught up in the courts at this point.
Rob 11:20
So, you’re not just losing out to, to probate, you’re also losing because your time value of money, time value of money, right? It’s crazy. Everybody in the audience is probably saying, hey, they’re talking about Prince and red fox, we’re just normal people. That’s right.
Brian Quaranta 11:33
Normal people are the ones that get hurt the most.
Rob 11:34
The same, they make the same mistake mistakes,
Brian Quaranta 11:37
The average person is who gets hurt the most, because they’re actually making bigger mistakes. Yeah, you know, because they’re not reviewing these things. They’re not taking inventory of where their current retirement plans are at, and their strategies and their beneficiary documents, and they’re not tying it together into the overall estate planning. And there’s a lot that you can do on the retirement planning side, especially when it comes from a tax planning perspective, to eliminate taxation at death and go from taxable accounts to tax free accounts that will pass on tax free to your families. Plus, people don’t think about the opportunity of actually leaving money now versus later. Right, you know, so people say, Well, I’m gonna leave my kid a million dollars when I die. All right, yeah. Let’s just say it’s $100,000. When you die, well, maybe $10,000 right now could make a big difference in the kid’s life versus $100,000. When the kids 65, or 70, maybe $100,000 could make a big difference in the kid’s life right now versus a million dollars when they’re 65 or 70. Right? So again, the child has more time to do things with that money, you know, the create opportunity, whatever that might be.
Rob 12:36
It’s funny, there’s people in the audience that are listening in there saying, hey, either I have an estate plan. I don’t need another one. Right. What have you reviewed it or updated that lately? Yeah. Because it needs to be reviewed and updated. And you also need to double check it to make sure it still works with the goals that you had for your other retirement assets. Right? That’s right. Do they still mesh and they communicate? And are they talking together? Are they accomplishing the goals you wanted them to accomplish? Right?
Brian Quaranta 12:56
Look, absolutely. Look, my wife and I, we just had another child, right. So, we had to go back to the drawing board, and we had to update our documents. We have another child and these life events, right? Whether you have another child, another grandchild, lose a spouse, those are times when you really have to think through what that estate planning is going to look like. But again, I think we’re folks get it wrong as they think about estate planning, wills, trusts, powers of attorney living wills, all that. So, they think about that separately from the retirement planning. And they actually are one of the same,
Rob 13:24
right. So, we’ve been talking about celebrities and retiring and retiring retirement mistakes and estate planning mistakes. Let’s talk about somebody that did it. Right. You brought it up to me earlier.
Brian Quaranta 13:32
Oh, George Steinbrenner. Well, is that George Steinbrenner? Yeah, he died at the right time. What was that? What year was that? 2010? I think it was Yeah, it wasn’t too well. There was no estate tax at the point at that point, federal estate tax.
Rob 13:43
He timed it perfectly, some people thought he did it intent, with intention, right intention. But when we look at what’s going on right now, for a number of standpoints, we look at the right the exemption when it comes to passing on.
Brian Quaranta 13:56
What is it, 22 million?
Rob 13:57
What was it then?
Brian Quaranta 13:58
Yeah, all it was as low as 600,000, I think.
Rob 14:01
Not that long ago. Yeah. Then where else is advantageous right now did you planning? Yeah, well, you taxation, right.
Brian Quaranta 14:07
Taxation is always advantageous, right? Especially when you can get rid of the IRS from your life for good.
Rob 14:14
You want to disinherit somebody here we’re talking about estate planning, disinherit the IRS.
Brian Quaranta 14:18
So, think about it. Most people go to bed every night without doing any tax planning, right with the IRS being the largest shareholder of their estate, their business partner, they’re a business partner and an any day they can wake up and they can find out that the IRS has just voted them a larger partner of their accounts. That’s a that’s unbelievable to me that that’s even legal for them to do.
Rob 14:38
It as a legislative risk. It’s a risk that you have no control over.
Brian Quaranta 14:42
That’s right, one day, they could just wake up and say, You know what, we’re not taking 30% of your account anymore. We’re taking 40% If you don’t think that’s possible, it just has to do with tax rates. If tax rates go up, it just means they become a larger partner in that account. Right. Right. So today, they could have had a 30% Share tomorrow, they could have a 40% Share 50% Share 60% and share, what are you going to do when they become the largest shareholder? Right? Right. So these are the problems that need to be solved. And this was why our retirement readiness report that we’re offering here today on the show is so important, because it’s going to go over all of these key areas, it’s going to look at your income, your taxes, your investments, your healthcare strategy, your legacy planning strategy, and it’s going to tie it all together so that when you plan on leaving this money to your family members, you’re going to maximize it not only now, but you’re going to maximize it also later, I want you to call right now. 1-888-382-1298. And when they pick up the phone, I want you to tell them that you want your complimentary retirement Readiness Review, schedule that today with us. But I want to share one other thing with you, you know, when you think about estate planning in general, right? And you think about just basic documents, most people just think about like a will and a trust, right? I mean, think about what a trust is designed to do. Most people don’t realize that their largest asset, probably their IRAs or 401. K can’t go into a trust. Right? Right. Because if it does, it becomes taxable. So how do you protect that? Right? How do you protect that? And that’s the big question that people need answers to, right?
Rob 16:02
And their strategies today. They can use today, though, where they know the rules, right? And why,
Brian Quaranta 16:07
This is why you know, if you’ve got a plan or go see these folks, talk to them, you know, hold their feet to the fire to come up with a plan for you. You deserve the very best for your family.
Rob 16:16
When it comes to state taxes and estate planning. It is not a static state, it changes, right? That’s why right now is the best time in history to take advantage of it right? It’s a scary thing to look in the eye. You know, nobody wants to death, but look at their own data they don’t and what happens when they’re not here. That’s right. It’s hard to imagine when you’re not in it, right? It’s
Brian Quaranta 16:33
not. And folks, that’s why you want this retirement readiness report again, call 1-888-382-1298. Again, it’s going to go over your income, your taxes, your investments, your health care plan and your legacy plan. It’s going to show you how all of this ties together so you can create a taxable estate and bring it to a tax-free estate. And these are very important things because the last thing we all want is to the IRS become our largest shareholder, don’t let that to happen to you and your family. Don’t lose out Call Today 1-888-382-1298 and get your complimentary retirement readiness review today.
Announcer 17:08
Call 888-382-1298 right now for your own retirement Readiness Review. Having a clear path to retirement is more than just your savings. This review will include a complete risk analysis on your portfolio, and in depth fee analysis to determine how much you are and could be paying on those investments a tax reduction report. And lastly, we’ll look at health care and legacy planning for you and your estate. To begin your retirement Readiness Review. Call Brian and his team at 888-382-1298. Or use the QR code to schedule your appointment today. Whether your retirement is coming soon, or you want to be certain you can stay retired, that retirement Readiness Review will help guide you through your financial planning needs. Call Brian and his team 888-382-1298 or use that QR code to schedule your meeting today.
Brian Quaranta 18:08
Welcome to on the money with secure money. I’m your host, Brian Quaranta. And in studio today with me is my good friend, Rob Hurtig. Rob, how are you today? And
Rob 18:16
I always love being here. I’m doing great.
Brian Quaranta 18:17
Well, you know, for those of you that don’t know, Rob is actually a consultant with hundreds of advisors all over the country. And you know, you’ve worked with our firm on many things. Yeah, you know, you get to see all over the country kind of what’s going on and how things are being solved. And I think one of the biggest things we’re dealing with right now is risk worst start to the stock market, what 40 years right, bond market worst start to the bond market in 30 is that right?
Rob 18:43
So 30 and since the Great Depression, I believe. So uh, well, I mean, these are drag 30 years and the Great Depression a drastic time. Yeah. And to clarify, I work with independent firms. I work with firms like yours that aren’t beholden anybody that yeah, they are completely independent and can make recommendations that are the best suited for the client, not the best suited for the firm, but the best suited for the client. So, you’re all correct. I did feel like I needed?
Brian Quaranta 19:02
Well, I tell you, I really don’t think people really understand how to define risk. I mean, you know, at secure money advisors, we define risk, it’s very simple. If it can go up in value, or down in value, it’s risky right? period by and the reason I say that is because you can look at positions right now bond positions that are typically used right, as safer positions, right? You got a 20-year treasury bond ETF right now sounds safe, sound safe, triple A rated right down over 20% on the year, it’s insane. Well, here’s where it gets even worse because it’s only yielding a little over 1%. So, your yield is a little over 1% And you’ve just lost over 20% Right. So, this is the type of things that people are dealing with right now where they’re taking losses, right before retirement or in retirement when they really can’t afford to take a loss.
Rob 19:55
and maybe those losses are bigger and deeper than they thought they were going to be because their definition Risk didn’t align with what their financial advisors did, right? Yeah, it really does matter where you came from where you kept your teeth in this business, your definition of risk is totally based on that.
Brian Quaranta 20:09
Well, I can relate to that. Because you go back, you know, 20 years ago, even while probably going on 23 years ago, now, when I first got in the business, I was working for the big box firms I look, I looked at risk differently 23 years ago than I do today, right? Because that was taught differently. And what I didn’t realize is that when you’re focused on helping somebody retire, the strategies and techniques that you use to help them grow their money are not the same strategies and techniques you use to help them retire, the game changes completely. There’s different specializations, right as different specializations. And for the last, you know, 1617 years of my career, all we’ve done is focused on retirement planning, where the number one priority is to protect the retirement lifestyle, right. And I see so many people today that come into our office that are not protecting the retirement lifestyle first, once they protect a retirement lifestyle, they could certainly take as much risk as they want with the money that they can afford, right? take risk with that so many people are taking risks with money they can’t afford to lose. It’s
Rob 21:04
amazing, this even concept of being different types of financial advisors that have different expertise, yeah, that it’s foreign to people. Because if you have a foot problem, go to the podiatrist, you don’t go to the general practitioner, right. But we do it with our money. Yeah, certainly it’s really interesting. And not only that, we shouldn’t be demanding that our understanding of risk, and what’s, you know, what we have stand to lose? is the same, that we aligned perfectly with a financial advisor. Right, right. But it doesn’t happen, Brian?
Brian Quaranta 21:31
Yeah. You know, I’ve always said it’s, you know, it’s really easy for somebody else to tell you to risk their money, or, you know, or for you to say, you know, it’s okay to risk your money, especially if you get paid a commission to do it. Right. You know, or they have no consequences if it doesn’t work out. Right. And because it seems like the only answer that people get a lot from the big box firms, if they lose money is don’t worry about it, hang in there. It’s just a paper loss, you know, you’re in it for the long haul, right? And I always think, gosh, if you’re retired, how much long haul Do you really have left? I mean, you know, as most people spend maybe 20 years in retirement on average, 18 years in retirement on average.
Rob 22:06
Hey, so you have a baby? Yeah. When it cries, what do you do? Put a pacifier in his mouth? Yeah, that’s, that’s what they’re doing. Those words are that’s a pacifier. Yeah, financial advisor, like, Oh, we’re managing the emotion, like put this in your mouth real quick. You know, let’s talk about the real problems that are associated with that. Let’s not pacify it. Let’s talk about it. And let’s fix it.
Brian Quaranta 22:23
Right. Yeah. And I think ultimately, I mean, you know, on the flip side of all of this, if you really think about it, there’s also a safe way to lose money to hire is because look at what’s happening with banks, right? Banks don’t want to really pay us to have our money with them anymore. Point one 0% For a checking account, maybe point two 0%. If you get a money market, by the way, if you just look at the dollars, you know, equate that to dollars on $100,000 at point one 0%. Right earning what, $100 a year in interest, you know, $100 a year in interest. But if inflation is at 9.9 Point, you’re losing $9,000. Yeah,
Rob 23:05
I think most checking savings accounts pay 10 basis points. So, you’re about Yeah, yeah, you’re right.
Brian Quaranta 23:10
We’re losing money safely, you’re losing money safely, especially when inflation is so high. Right. So
Rob 23:15
with the vantage point I have and working with so many offices across the country, I’ll share a quick story. And this is a real story. And this is not intended to scare people. Or maybe it is if it scares you in a meeting with somebody then. Then great, right? Yeah, but this really happened. And I’m hearing these stories over and over again, I’ve got a firm I work with in the Midwest, and this firm had a prospect come in, and this prospect had lost 70% of their money, Seven. Zero. Percent. These people were 70 years old. Okay, so they lost 70% at 70 years old. Okay. Yeah, these people came into the person I worked with Office in tears. Yeah, literally crying. Yeah. And he did a risk lies report on it. Right. And he found out the risk score is about 24. Tell the audience what that?
Brian Quaranta 23:54
Well, you know, that’s interesting that you bring that up, because most people don’t know how to quantify risk, right? You know, Wall Street has had people believing that there’s conservative, moderately conservative, aggressive, moderately aggressive, right? You fall into the bucket, you fall into this bucket, there’s a real mathematical risk, or that can be used, and it’s on a scale from one to 99. Right? So, the higher the risk score, 99 being the highest risk that you can possibly take, you’re going to be when we evaluate your portfolio, we plug in these data points that will actually give us a report back showing what that risk score is so 20 Oh, or so. But you take a quiz first, right? And the quiz says that based on how you answered these questions, your risk score is a 24. Right? And what was their actual portfolio risk score?
Rob 24:40
They were in leveraged investments, their score was off the charts. I mean, it was 100. If there was 100 on this, there would be 100 Yeah, and these people were seven years old and lost 70% of their assets. So, if you have a million dollars now you have 300,000 This gentleman had to go back to work at 70 years old.
Brian Quaranta 24:57
You hear these stories and What happens is people are losing money at the wrong times. Yeah. And they’re having to go back when they really don’t have the physical capability of going back to work. No more human capital. There’s no more human capital who wants to go back to work at 70-80 years old. And unfortunately, you know, you’re not going to run out of money in the first five years of retirement. Yeah, you’re gonna run out of money in the years that you’re much older when you really when you need it, and you really don’t have that human capital to, to go back to work or the want to go back to work. So, you know, folks, here’s what I want to share with you. If you’re listening and you have money in a 401 K or an IRA, you need to call and schedule your complimentary retirement readiness review right now, call 1-888-382-1298. And you’re also going to get a complimentary risk report so we can actually evaluate your risk score. Don’t kick the can down the road. Don’t procrastinate on this, this is really important, call 1-888-382-1298 or scan the QR code at the bottom of the screen and schedule with us now. Thanks for watching.
Announcer 26:06
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