On the Money with Secure Money: Episode 107
Tesla, you know, everybody thought they were a hero for buying Tesla until went down 70%. I’m not against the market. What am I against is gambling with 30 to 40 years’ worth of work.
On the Money with Secure Money: Episode 106
Social Security was only designed to cover about 30 to 40% of your salary. That’s about it. So, you know, it’s a big income drop. Sure. And for most people retiring today, the only guaranteed source of income that they’re going to have is Social Security.
On the Money with Secure Money: Episode 105
And so, by understanding where you are, and then us analyzing where you potentially need to go, we can help minimize risk, and potentially maximize return. But more importantly, help you focus on maximizing your Social Security and other income sources.
On the Money with Secure Money: Episode 104
You can’t control tax brackets. So, if all of a sudden, your tax bracket now goes to 30%, that same $1,000, withdrawal is only going to net you $700 a month. So now you’re going to take to have to take more money out, which now causes the problem of are you going to run out of money later on in retirement.
On the Money with Secure Money: Episode 103
Well, tax planning is really big, because tax planning ties into purchasing power. And when we talk about retirement planning, we really- the main focus is how are we going to get an individual the monthly income that they might need.
On the Money with Secure Money: Episode 102
You know, the way that we define it at Secure Money Advisors is if it can go up in value, or down in value, it’s going to be risky, and you have no control over it. And you have- no matter what you do you have no control over it. I mean, look, you- look at just even the bond market right now.
On the Money with Secure Money: Episode 101
But more importantly, mutual funds, and individual mutual funds or mutual funds and bonds that are typically found in 401K’s those are not products, those are not financial products that provide income.
On the Money with Secure Money: Episode 100
So, we have to look at these situations, though. Because if you have a health event very early on in retirement, that’s more of a problem than if you have a health event 25 years in the retirement, right.
On the Money with Secure Money: Episode 99
That’s what we’re seeing right now. Big, big correction. Yeah. And, you know, unfortunately, you know, if you’ve got time, you know, if you got, you know, 15-20 years in front of, you’re probably not as worried. Sure. But for those that are five years out from retirement, or retired, you know, it’s scary, especially if they kept a large portion of their money at risk.
On the Money with Secure Money: Episode 98
Investors selling at the wrong time and getting back in at the wrong time and people what they do over and over again. And as they sell at the bottom, and then when the market recovers, they buy back in at the high. And this is why you don’t want to play that game. You see what happens when you don’t create a bucket strategy, like I talked about, and you have 100% of your money invested in the market.