Retirement You TV: Episode 2

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Video Transcript

Cynthia De Fazio – 00:23

Hello, my name is Cynthia de Fazio and I’m sitting with Brian Quaranta of secure money advisors, advisors, I had to stumble because of your last name

Brian Quaranta – 00:33

name will always get you you know, that’s why it’s easier just to say Brian Q, which is, you know, my whole family’s been known that my father, my grandfather, Mr. Q, Mr. Q. Right. So but yeah, yes. Rob is a tough one. Yes. But to recap, secure money advisor, your 00:46
money advisor? Definitely,

Cynthia De Fazio – 00:47

But to recap, secure money advisor, definitely yeah, sure when we say that properly. So, Brian Q. Well, we have a wonderful show today. And what I’ve enjoyed so much about being on TV with you, Brian, is that a lot of the people that listen to you on the radio, are now tuning into our show? Yeah, they are. And they’re calling in with some really amazing questions. So what’s really cool is that our show may start with one topic in mind. Yep. But we’re able to kind of segue through several Yep, due to what happens with conversation with you and I, and also the viewer questions that come in.

Brian Quaranta – 01:17

Yeah, it’s been a lot of fun for us. Because, you know, being on the radio, and having the listenership we do is great. But again, it’s important for us to really get the information out there, because retirement planning has become very, very confusing to a lot of people. And it doesn’t need to be confusing, because retirement planning really is a simple process. People just need the right information. That’s that’s the thing, if you give people the right information, and allow them to make a good decision for themselves, right, that’s the key to it all. The problem is there’s so much noise in the marketplace. Sure. And with that noise comes a lot of confusion. And when a mind is confused, it does nothing, it won’t make a decision to move forward. And the worst thing anybody can do, moving into retirement is not making a decision at all. And I meet people like this, they’ll say, well, I’ve spoke to this person and that person and this person, and I’m getting three, four or five different opinions. And they’re now paralyzed, right? It’s a paralysis by analysis. So our job at secure money advisors, and what we do really well is we take this complicated thing called retirement planning. And we simplify it down to its basic fundamentals, which allow people now to truly make a good decision and move forward with living the retirement which we’re supposed to do. Because, you know, if the viewers don’t know this, you’re supposed to be living your bucket list right now. Right? At least that’s what all the retirement books say. Right. So

Cynthia De Fazio – 02:36

they’re all different. Everyone’s bucket list. Everybody’s different. Right? So you probably heard some really interesting ones. Have you heard something that just took you off guard? Like, really? You want to do that?

Brian Quaranta – 02:45

Not Not yet. I think most everybody, everybody that we meet with the biggest one right now is the Alaskan cruise, right? Everybody wants to go to Alaska right now. Now, it could change in a year from now or whatever. But you do hear the typical things. I want to travel the country, I want to see the national parks and things along those lines. A lot of people are more simple than that, hey, look, I just I just want my time back. Yeah, I just don’t, I don’t want to be on a schedule anymore. I’m exhausted from what I’ve been doing. And I just want to get my time back with my family. I want to I you know, I’ve got kids in different parts of the country, I would just love to go travel and see them and spend time with them and not have to, you know, worry about rushing home to get back to work. And so you know, but these are the things that people should be doing in retirement not worrying about their money. Yeah, right. And the reason you’re going to seek a company out like ours, like secure money advisors, because we’re going to help take that worry out of it. Sure. You know, when people work with us, what they really get is peace of mind. And you know, that peace of mind is so valuable in retirement because that’s what we’re really all looking for. I mean, if Wall Street’s going crazy, the last thing you want to be worrying about is contacting your broker because you’re worried about how much money you’ve lost. If you’re working with a fiduciary that truly has designed a customized plan for you. It doesn’t matter what’s going on Wall Street, there’s a plan in place for those worst case scenarios. So that you don’t have to worry about come after come out of retirement or running out of money. I mean, you think about people in 2007 2008, they had more than enough money to retire. And a lot of those people couldn’t stay in retirement or they had to delay retirement. Because they didn’t have a plan. They were just shooting from the hip, maybe putting money in their 401k is and you know, the joke back then was that your 401k went to a 201 K. These are things that should never happen. Not in today’s marketplace, because you think about the cell phone back in the 80s. Right? I mean, the cell phone back in the 80s was like a brick. My favorite movie growing up was Wall Street. You know? What, what was? What? Douglas? Yes, yes. And he was sitting out on the beach with his big cell phone. Yeah. And he was saying, you know, he’s talking to Charlie Sheen, and he says, Son, you should see the sunset right now and he’s on this huge fall and they look cool. They look cool. And the funny thing is, I remember there was a guy in my hometown that had one of those phones. And I remember, you know, being at baseball practice and this guy being on that phone and, and so you know, but you think about a cell phone today, right? I mean, I barely even use my computer anymore. Because my cell phone does everything, I can check my investment accounts, I can do banking on it. I mean, I can, I can read the news, no matter what I can listen to my music. And the financial world has done the same thing. It is shifted meaning there, there are more products that are designed for retirement planning than ever before. And there’s plans and strategies that are designed so that if you have another 2007 2008, you’re not coming out of retirement to have to go back to work. So our job at secure money advisors is providing that peace of mind. And it’s providing information in a simple way that people can understand.

Cynthia De Fazio – 05:50

Absolutely, yeah. And Brian, would you agree, the number one fear that most people have when they’re retiring is that they’re going to run out of money?

Brian Quaranta – 05:57

It is it is the number one fear. AARP did a great study. And they they interviewed 1000 people, and they said what do you fear most? running out of money or death. Now 90% of those people said, I fear running out of money more than if your death alone. I mean, if that doesn’t tell you how scary it is. And the worst day of retirement, Cynthia is not a day you run out of money, the worst day of retirement is the day you figure out it’s gonna happen. And there’s nothing you can do to stop it. Yeah. And unfortunately, I meet people like that, that have been given the wrong advice, they’ve taken too much money out too early, or they were in an investment that didn’t perform didn’t keep pace with inflation, didn’t protect them from market volatility. And they continue to take money out. And they’re, you know, three, five years from running out of money. Those are scary days, sure. Because eventually what’s going to happen is that money is going to be gone, then what, and a lot of times when they run out of money, they’re not 60 years old anymore, they might be in their 80s when they run out of money. And that’s the last time that you want to have to go back to work. So, look, retirement planning needs to be done, right. It needs to be done with a licensed fiduciary, which secure money advisors is, and you need to sit with somebody that’s going to understand your situation, and customize a plan to your goals and objectives and work with you on finding out what that is.

Cynthia De Fazio – 07:16

Yeah. And for the viewers at home. Brian, can you describe what your role is, as a fiduciary versus this as a broker or stock broker? What is

Brian Quaranta – 07:25

Yeah, I mean, a licensed fiduciary really is just the highest standard of the industry, it basically just means that we have to do by law, we have to do what’s in the clients best interest. In more simple terms, we sit on the same table as a client, we don’t have an objective, right? We’re there to truly give an unbiased advice on on their situation, it would be no different than me sitting down with my mom and dad. Yeah, right. I mean, that’s, that’s the role of a fiduciary, you’re sitting down with your mom and dad, you’re saying, Okay, well, what I what would I do for my own family? Yeah, right. Whereas, whereas a broker or somebody that’s not a licensed fiduciary, they can just sell you a product that’s suitable for you. That’s a lot different. So. But that’s why we offer these complimentary reviews at our office and what we’re going to do for the next 10 callers that call in, we’re going to give you a complimentary review, normally cost 15 $100 you’re going to get a complimentary today. Okay, when you come into the office, here’s what we’re going to do, we’re going to review your portfolio, but more importantly, we’re going to understand what your goals and objectives are, and what you actually need your money to do for you. Only then once we design a plan, once we design a plan, and you know some folks that come in, we may not be able to help and that’s okay, we’ll be very upfront with you. And we’ll let you know whether or not we can help but we can’t help so don’t worry about how much money you have, or or you know, or if you’re working with somebody, take advantage of the review. Come on in. And we’ll walk you through that process. If we feel that we can provide value we can make your situation better, we can always talk about what the next steps will be. So again, for the next 10 callers complimentary review, if you call 18883821298. Again, that’s 1-888-382-1298.

Cynthia De Fazio – 09:07

And Brian, I believe it’s time for us to go to a break. But viewers, please stay with us. When we come back. We’re going to ask some more questions of Brian about how to plan for your perfect retirement. So please don’t go away. We’ll be right back.

Commercial Break – 9:20

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. But 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 is 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 – 10:55

Welcome back. My name is Cynthia de Fazio and I am with Brian co entre of secure money advisors, Brian q better known as

Brian Quaranta – 11:03

by the time we’re done working together, which may not be for a long time, we’re gonna get you to say that right? But Brian, you is the easiest to find to go cool. And you can roll the are right, you know, you’re right, you’re gonna roll the

Cynthia De Fazio – 11:20

well talking about retirement is always it’s it’s fun, it shouldn’t be scary. It’s something that we can enjoy talking about. And I think one of the most common questions that I’m hearing is, how do I know I’m ready? How does someone know that they’re really ready, Brian?

Brian Quaranta – 11:33

for retirement? Yeah, that’s a big one. Because there’s a lot more that goes into retirement planning, other than just the money part. There’s a whole psychological part that goes into it. And you know, there’s some people that just don’t do well in retirement, they don’t. But here’s what we have to define. So I’ll give it a good example. So there’s a number of my clients from the local area that just were working for a company for 30 plus years. They’re tired of doing what they’re doing. And for retirement for them. It was just changing what they were doing. And retirement for them. Here’s what it really meant. Not that they wanted to stop working. What it really meant was what I’ve accumulated up to this point, if I want to to walk away from everything right now, will it work? Yeah. And when we sat down, and we built the plan, and we gave him the peace of mind that, yes, if we build the plan, and we strategize this way, and we engineer it out so that this happens, and this happens, you can absolutely retire right now. And here’s what they’ll do. They’ll go in and quit their jobs. Now they’ll do something else, they’ll do some type of consulting work or whatever, because they need to stay busy for their mind. Right. But the peace of mind that they got from it was they crossed the finish line. And I think that’s what everybody really wants to know is have I crossed the finish line. Not everybody’s really just ready to pull the plug and sit home all day. Right? And that’s really, to all the listeners, they have to understand that you got to have a purpose in retirement. Otherwise, if you have no purpose, you’re dying. And so it might be volunteering, you know, it could be, it could be as simple as watching your kids or your grandkids, right? It could be that simple. That’s a purpose. So but weren’t to sit home and get caught up in Jerry Springer all day, or whatever’s on TV during the day. probably not a good idea. But what we really help people do is have you won the game? Yeah. And, and that’s what people really want to know, have I crossed the finish line. And really, what I find is that most people have their head down. And they’re just grinding and grinding, and they’re doing life. And they’re putting money away and put money away. And they’ve never looked up to really see what they’ve accomplished. And have they’ve won the game. And people are always very surprised when they come into the office, when we map everything out for them. And we finally get it organized. And we put it into a simple format that they can see what their lifetime’s worth of work looks like. Yeah, there’s a lot of tear shut in our office because people will say, I didn’t realize that it was this good. Because they’ve been working from fear or, you know, they’ve been put away put away. The other thing that I find absolutely amazing at our office is how much people think they need to retire, right? Meaning A lot of people have, you know, an idea that they need to have this much money. And so they just keep working and working and working. And we can get them retired on this much money. That’s and that’s and that’s what really is a fun part of our job is that people will come in, they’ll say, well, we’re so far behind. And then we’ll show them the black and white math and and that’s really, you know, where we differentiate ourselves from, I would say a lot of the other firms is that we’re not giving you our opinion, we’re really showing you the black and white math of how this thing really looks. And that’s the information that they need to be convinced of whether or not you know they’re ready to go or not. And just knowing that the math works in their favor. Is, is really a neat thing for us to see on a day to day basis. We helped a single lady retire last week. And, you know, she came in, she says, I, you know, there’s no way I have enough money. And, you know, this is what I need. And here’s what I’m gonna get in Social Security, I don’t have a pension, this is what I’ve gotten this 401k this is I’ve got an old 401k. And we pieced everything together for her. And we showed her that if we do this, we can generate this much monthly income and you’ll never have to work again. And you know, and we’re getting the box of tissues out. Right. And and I’m, I’m right, because it really for people. It’s, it’s, you’re talking about 40, 50, 60 years of their life, and it’s finally coming together that but wow, I’ve really done it, I’ve really have crossed the finish line.

Cynthia De Fazio – 15:46

That’s incredible. And Brian, let me ask you a question. Talking about having that plan in place for each individual person? How often do you recommend that you review the plan?

Brian Quaranta – 15:55

Well, for us, it’s secure money advisors, it’s very important that we see our clients at least once a year, okay. So you know, and we truly give our clients a written plan. And that’s I really want to stress that to viewers is that you want a true written plan in place. Now, when people leave our office, when you become a client, you truly leave with a binder. And in that binder, we keep you highly organized. See, what I found is that some people will have, you know, they’ll have a filing cabinet. So you know, their 401k statements, their bank statements, their insurance policies, all this kind of stuff. Well, if you’ve ever had to process in a state at death, nobody knows your filing system. And it makes it very difficult for you to review things. So we give everybody a very organized financial inventory binder, the first thing that you’re going to see in there are instructions of how to keep Uncle Sam, from becoming your biggest beneficiary of your money, we teach you how to keep Uncle Sam out of the picture through a certain process. Then we put together a consolidated assets summary that includes all of your non retirement accounts, retirement accounts, life insurance, long term care, this way, you see everything on one page, all the accounts you own, what your total net worth is, then you get a Master Beneficiary page, who are all your beneficiaries on each account, who’s your tax accountant, who’s your Who’s your estate planner, right? And legal documents are important. So having a good tax accountant, it’s important, you know, we provide those things that secure money advisors if people don’t have one. And then we put in all of our statements, their investment statements, their life insurance, or long term care bank statements this way, everything’s in one binder. So and I follow my own advice. So you can see me out at, you know, Starbucks on Saturday, and I’ll have my financial inventory binder with me, and I’ll just be flipping through it and reviewing it. And it’s so easy because everything is right there.

Cynthia De Fazio – 17:40

Yeah, that is amazing. And for me, it just makes sense to have everything in one place. Because so often, if you have things all over different areas, you don’t know where to go to you’re not even sure what was being said to you sometimes. So to have it all organized in one binder is incredible. Well, again, I

Brian Quaranta – 17:55

mean, think about it if you’re a married couple. Yeah, right. I mean, part of the planning process, when you come into secure money advisors is, you know, you might have this much money while you’re both living but if you want to you die, there’s going to be an immediate loss of income. Yeah, well, we better have a plan for that. And in that financial inventory binder, there’s a plan for loss of spouse, we have a survivorship checklist 60 different things that need to be done what needs to be done in the first month of death, what needs to be done in the first three months, six months and year of death, everything laid out step by step of what needs to be processed for that individual and how it’s to be done now. Secure money advisors really great at processing death claims. It’s not something I think we want to brag about, but we’re really good at it. Okay. But because it’s it’s it’s part of what we do. And you know, people, people, when you have that financial inventory binder truly gives the spouse peace of mind that if they lose their spouse, everything has already been thought about ahead of time. And there’s no no important. There’s nothing more important than if you’re a married couple to give each other the gift of thinking through those tough things while you’re both living Oh, sure, right. Because we now when that happens, you’re not working from a place of weakness. You’re working from a place of strength. And that’s really critical for a lot of people.

Cynthia De Fazio – 19:11

Yes, because it’s very difficult for people to make any sound decisions when you’re dealing with so much grief. Yeah, so having it pre planned in advance when you’re both together healthy alive, makes perfect sense.

Brian Quaranta – 19:21

Yeah it absolutely does. And this is why we offer these complimentary reviews at secure money advisors, we’re going to show you how to build all this, I will teach you how to build all of this and we’ll build it for you if you become a client. So for the next 10 callers, we’re going to offer a complimentary view $1,500 value that you’re going to get absolutely complimentary. It’s going to we’re going to walk through a lot of different things when you come in. Most importantly, we’re going to understand what does your money need to do for you. Then from there, we’ll look at what you’re currently doing, what fees you might be paying, what risk you’re taking Are you set up for income, what happens if your spouse dies, what loss of income are we going to be looking at A lot more that we’ll cover when you come in. And really, when you when you get when you come into the office, we’re going to sit down for maybe an hour, maybe an hour and a half depending on how many questions you have. And from there, you’ll be able to make the decision, do we want to move forward to the next step and build a building a customized plan, or do we not and if we can’t help you, we will be very upfront with you if we’re not the right fit for you. So, again, a complimentary view $1500 value that you’re going to get for the next 10 callers if you call 18883821298. Again, that’s 1-888-382-1298.

Cynthia De Fazio – 20:37

And Brian, it is time for us to take a break. But viewers, please stay tuned and don’t give up. If you’re trying to get through, we know those phone lines can be busy. Once again, the number is 1-888-382-1298. Please keep trying, we’ll see when we come back right off ever after the break.

Commercial Break – 20:57

Retirement Planning is just all about getting to know somebody. I mean, retirement planning is really about just building trust with people. I have a responsibility that when I wake up in the morning to be the very best that I can be because people are relying on me to take care of a lifetime’s worth of work that they’ve worked 3040 years for, I don’t take that lightly. That’s what drives me. That’s what I’m passionate about. You know, our clients really are our family of clients. We know their grandkids, we know they’re kids, we see them often throughout the community. We see them at the coffee shop, we see them at lunch, we really enjoy it, you know, we take pride in the quality of the relationships that we build with our clients. Choosing the right advisors starts with choosing someone that shares the same beliefs about money that you have. At secure money advisors, our focus here is about building plans around principal protection, low risk investments are a great way to approach retirement. You know, when people have low risk investments, they’re not worried. They don’t have anxieties. They don’t have fears, they don’t have to worry about what’s going on in the stock market. There are other options available, other than risk options that people need to know about when it comes to retirement. And that’s what we do at secure money advisors. There’s a lot of responsibility and helping somebody plan for retirement. And that’s why we take the time to listen, we take the time to understand their concerns, their worries, their needs, so that we can put together a customized plan. You know, we believe in what we do. Everybody that works for secure money advisors is on a mission to be the very best that they can be and to serve our clients in the best way that they can possibly serve them. You know, we just are a simple company. And it’s the simplicity in what we do that makes everything so powerful. You know, you don’t need to make this thing complicated. Retirement should not be complicated. It should be simple, easy, predictable, and we pride ourselves on providing that to people.

Cynthia De Fazio – 23:20

Welcome back. My name is Cynthia de Fazio I’m sitting with Brian Quaranta of secure money advisors better known as Brian Q. Closer and closer every day I keep I don’t know. I’m trying but it’s like it’s so fun just to make you feel better. It’s been butchered all my wife. So don’t worry. My husband as well. But that’s Yes, I

Brian Quaranta – 23:39

know. Believe me. I know anytime I meet somebody with a rough last name. You know, I can empathize with them. Right?

Cynthia De Fazio – 23:45

Well, I’m giving you only the de Fazio it’s truly pencarrow de Fazio Oh, my God. Oh pincio defines in depth. Yes, we’re getting off topic. Yeah. Here we go again. So we’ve had some great viewer questions come in. And I’d like to jump right into this one. Because I know we have limited time today. But we had a question come in, what is the best time to take social security?

Brian Quaranta – 24:07

Yeah, what a great question. Because we get it all the time. You know, not only are we doing the radio show, and now TV, but we also do 70 educational events, which if listeners go to our website, they can actually find out where those educational events are going to be. And one of the big topics we talk about is social security. And that’s probably the biggest question I get at the event is, what’s the best time to collect? Well, are we talking mathematically? Are we talking based around your current situation? Yeah, because mathematically the best time to collect is 70. That’s when you’ll actually get the most amount from Social Security. But here’s the question we really have to ask is not when the best time is to collect it really is how’s your health? Right, because if your health is not good, you know, delaying Social Security is not going to do you any good. You’re probably going to want to collect that sooner and late, true story. I had a guy come to my office, and he said to me says I think I’m gonna wait until seven Need to collect? And I said, Well, I can’t argue with the math, right? 70 is absolutely the best time you can learn. And I said before you make that decision, though, let me ask you, how’s your health? He says, Why have diabetes and I’ve had a heart attack. Now it doesn’t take. It doesn’t take a rocket scientist to give the right advice here. And I think anybody listening to the show would agree that the best advice to give this guy’s you better collect this money right now. Right? So those are the things we really have to think about. That’s why when you come in, we’re going to ask you, you know, How’d your health Tell me a little bit about mom and dad? Are they still living? How old? How old? Are they live? Two, what’s the longevity look like in your family. Because even though it might seem like a good idea to take advantage of a social security maximization strategy, which there’s quite a few still left out there. It may not be the best for your situation. And I think what happens is people go out, and they hear information about how to maximize their social security, but they’re missing the biggest key component. And that is, what’s longevity really looked like for you. Because if longevity is not part of your family tree, and history, then you may want to consider collecting sooner than later. So not only that, but a lot of people if they want to delay taking Social Security, that typically means that if they still want to retire, they’re going to need to generate income from somewhere. Oh, yeah. And if they’re not getting a pension, that means they’re gonna have to take a lot of money out of their retirement accounts, which can put a lot of pressure on that money. And if you’re not careful, you will run out of money. And that’s the situation we definitely don’t want to be in.

Cynthia De Fazio – 26:26

Sure. Yeah. Do you ever recommend test driving your retirement, like maybe living on a retirement budget, let’s say for one year to see how you do?

Brian Quaranta – 26:31

Well, you know, a budget as budgets tough I hate budgets and retirement. But and the reason I hate budgets is because nobody should be living on a budget in retirement. But this is why we offer these complimentary reviews at secure money advisors, and for the next 10 callers who call in, you’re going to get a complimentary view $1500 value sit down with us, my team, and we’re going to go through everything, we’re going to see how much risk you’re taking how much income if your portfolio is even set up for income, what fees you might be paying, but more importantly, we’re going to understand your needs your goals. So if you call 1-888-382-1298, again, 18883821298 I’m sorry, 1298. You’ll get a complimentary view call and I know the phone lines are ringing like crazy. So make sure you just keep trying. But we look forward to seeing you at the office.

Cynthia De Fazio – 27:23

Absolutely and a visit to the office is such an amazing experience. And it’s just one on one quality time that you’ll have with Brian, you’ll get a true financial plan at no obligation no cost to you actually a $1500 value. What a show we have had today, Brian, I am so excited for the weeks ahead. I think it’s going to be amazing. So viewers, please stay tuned. Join us next week. We’ll be back with Brian Q. of secure money advisors. Thank you so much. That was good.