Start Young

Saving Early for Retirement

SPEAKER_02 0:00

There aren't many absolute facts in the financial world. Heck, there aren't many absolute facts in any part of our world. Things that you can pretty much count on being true no matter what. One of those things is the fact that the earlier you start saving for retirement, the more money you are going to have. Period. If you start early, you're going to have more. Even if you don't make great choices along the way, it's the starting early that makes a difference. So, how early can you really start saving significantly for retirement? We've got some ideas for you on this exciting edition of the Talking Real Money Podcast. Hi, everybody, I'm Don McDonald, that guy over there in the modern, the model military model military aircraft museum in beautiful Duval, Washington. They had to move to a cheaper building because the rents were too high in Monroe. Or wherever the heck you were before. Wasn't it Woodenville? Woodenville. That's where all the wineries are. I know.

The Power of Compounding

SPEAKER_01 1:10

Now you're out there where the cattle hang out. Yeah, and the birds and the fish and the deer, et cetera. Yeah, so this is the thing. And the wild trees. The wildest trees. This is a fascinating topic, and one, frankly, that if I was teaching young people, it probably would be the number one fact to teach them. The power of compounding. Didn't Einstein say something like it's the eighth wonder of the world or something like that.

SPEAKER_02 1:36

It was somebody, and I'm not sure who. Yeah.

SPEAKER_01 1:39

But the point of the matter is it is huge. It's mind-blowing when you're going to hear these numbers. And now the opportunity is greater than ever if you really are feeling compelled. And a lot of you are, because I talked to you about helping your child or grandchild be successful later in life, right? I want to make sure that they I leave them money. I want them to be okay.

SPEAKER_02 2:04

This is these are really good ways to make sure they're going to be well more than you ran the number just from your daughter.

Youth Retirement Accounts Explained

SPEAKER_01 2:13

Right. If she if she has I believe in somewhere in her mid-20s after she's finished school and we've moved$35,000 from her$529 to her Roth, she'll have somewhere around$50,000. I think we ran compounding at about 7% a year, something like that. At 65, I believe the number was around a million bucks. So basically at 25, she's a millionaire, right? If she does nothing, as you said, just put the money in there. Could be one fund, leave it alone. Dad'll be gone, mom will be gone, but uh you'll be happy that you knew them.

SPEAKER_02 2:48

The reason we're bringing this up right now is a recent article a few weeks ago in the Wall Street Journal about the accounts. The I I don't even want to say it because I'm so sorry.

SPEAKER_01 3:02

We're including our dollar bills now. Yes, I see that he's signing that. Apparently, his signature is not being used for enough. I'm changing the name of this, so I'm gonna make it official. Okay, so I don't have to call the Wheatons accounts. I can't use my name on Apple, but we can use this name on Apple, okay? So uh the YRA, the youth retirement account, that's what we're gonna call these. The YRA.

SPEAKER_02 3:23

They actually I think they have another name.

SPEAKER_01 3:26

Oh, do they have an acronym already?

SPEAKER_02 3:27

No, no, no. But I think they have a like a they're they're child investment accounts, I think is what the Well I didn't know that. I thought they were the term is for them. Fill in the blank. But the president of the United States right now likes to slap his name on stuff. That he does. That he does. He does. He now come on. Nobody can deny that, deny that, or tell me I'm being critical. It is an absolute thing. They'll tell you that anyway, trust me. This dude likes slapping his name on stuff. Buildings, I mean not. He's got the Trump RX and the Trump stakes and the Trump University and the Oh, you're really going right to the heart of the matter there. I mean, now they have it in bridge. When you play a game of bridge, you bid no Trump or Trump.

SPEAKER_01 4:15

Exactly. So this is but this is We're not laughing at this as a topic because it's a serious one and and I love it. Well, let's talk about what those accounts are.

SPEAKER_02 4:24

The the the what did you call them?

SPEAKER_01 4:26

The I what the Y R A Youth Retirement Accounts. People are just what I think. That's okay. That's good. Then you gotta pay attention. I I I kind of like that. So, okay. As you may well know and may not know, because they've they got some publicity kind of at the beginning, it's kind of gone down. They're actually starting, I believe, in July. Children born from 2025, which was last year, through 2028, this rando numbers, are eligible for a$1,000 contribution from the federal government.

SPEAKER_02 4:58

It's a gift. It is from the federal government, tax-free gift.

SPEAKER_01 5:02

Because the federal government has so much extra money. It's just looking for people to give the money to.

SPEAKER_02 5:06

We're not running a deficit at all.

SPEAKER_01 5:07

Let's pay those guys in the airport? Ah, we'll we'll get to that later. That's the same thing.

SPEAKER_02 5:11

Okay, everybody, listen, please. That's Tom sounding critical now. Tom's not Don. I'm Don.

Government Contributions to Youth Accounts

SPEAKER_01 5:17

You mean you don't work for me for free? What's wrong with you people? That's no brainer. Anyway, okay. So you can you can the thousand bucks that goes in. And then there's this thing from Michael Dell where he's going to give another 250 to certain people. I haven't figured out who those people are, by the way. I don't know how to quantify that.

SPEAKER_02 5:33

I'm surprised Elon Musk is not giving them some two.

SPEAKER_01 5:36

Musk has some new plan about how none of us have to work again. So I'm waiting for hoping that kicks in soon. I'm checking the box there. Thank you very much, Elon. Okay, so but here's the part that you might not know. Government giving you a thousand bucks a kid for the next three years, terrific. Okay. Did you know that parents or grandparents or uncles or really wealthy members of the family or Michael Dell. Michael Dell can add five thousand dollars a year to those accounts. Okay. Now remember, they go. U.S. stock index funds. U.S., by the way, no international funds.

SPEAKER_02 6:16

No internationals, no global investing for you.

SPEAKER_01 6:19

No, this is U.S. first. Yeah. America first, pardon me. I gotta say that. Right. Anyway, um, so you can you can add that. You can add that$5,000 in. Now remember, this goes in pre-tax. Right? Right. Yeah. Okay. So when you go to draw it out. Wait, it goes in pre-tax. Correct, because you're not paying any.

SPEAKER_02 6:40

Correct. Right. Yeah. Well, okay, but nobody's getting a deduction for the$5,000 a year.

SPEAKER_01 6:46

No one's getting a deduction. Nope. It's it's it's that simple. But if you did the 1K you got from the government, and then you added$5K, right, up to the age of when when you could do anything with these at 24.

SPEAKER_02 6:59

Well, actually, the age when you can do something with them is 18. 18, but this article suggested you need to wait until you're twenty-four because of the fact that you get taxed at your parents' bracket. Correct.

Converting to a Roth IRA

SPEAKER_01 7:09

You wouldn't want to do that way. Yeah, you want to wait until you're independent. You basically have a quarter million dollars right then, right now. It's not an insignificant amount of money, right? What the article suggests, which I think is pretty interesting, is converting it then to a Roth. Now you in in their mind you have to somebody has to come up with the$43,000 in tax. Yeah, almost forty-four thousand dollars in taxes. Again, not an insignificant sum. Right. But then if you do that and then it grows tax free from twenty-four to fifty-nine and a half, right? When you can start taking it out, you have about three million dollars tax free. Wow. I mean, that could be actually worth something in four years. Who knows?

SPEAKER_02 7:56

By the way, that now the what's really interesting about this is the fact that that requires no additional contributions on the part of the young person. Yep. They basically you you, parent, grandparent, rich uncle, Michael Tell, Elon Musk, you have the power to set up a kid with it with contributions of, let's see, five thousand over eighteen years. That's uh five thousand at twenty years would be a hundred thousand. So you've put eighty, you give him you've given a gift of eighty. I'm sorry. But I'm just my my math brain is not working today.

SPEAKER_01 8:35

That's quite all right. It doesn't most days.

SPEAKER_02 8:38

That's why I have calculators.

SPEAKER_01 8:39

$90,000.

SPEAKER_02 8:42

Okay, here's what it comes down to. Parents, grandparents, Elon Musk, you know what I mean? 90 grand in. Then you got to put another 44 in to pay the taxes. Yep. So that's$135,000. That's right. You now they put that in and it grows at 7% a year. That's the assumption. Not outrageous. No, that's a balanced fund return historically.

SPEAKER_01 9:03

It's been about what investors have made over the long haul, six, seven percent.

SPEAKER_02 9:07

Seven percent. You have for less than$150,000 basically given them their retirement.

SPEAKER_01 9:15

Yeah. I mean, it's astounding advantage. Now, I know when I brought this up with you, we talked about it. I suggested, and I still think kind of is true, but we can we'll we're gonna discuss this in a moment, that this is basically the only way you can directly put money into a retirement account for a young person who is not working.

SPEAKER_02 9:34

Right directly. Right, right, right, right, right. Now, I want to can I you can put it in directly for and it's better. A better idea would be if and you can't do this for a baby, but when a kid is working, that money should probably not go into the the YRA account. It should probably go directly into a Roth IRA, up to whatever they earn from a job, whether it's lawn mowing or babysitting or working at 7 Eleven. I hope at 7 Eleven. McDonald's, maybe. You used to work at 7 Eleven. Yeah, 7 Eleven's are scarier than McDonald's, I think.

SPEAKER_01 10:12

They're in the wrong neighborhoods. Anyway, it's fine. I think. Plus, then you get a free big arch mur burger every time you work. I was I was just, you know, I went to McDonald's the other day.

Working Young: Funding Roth IRAs

SPEAKER_02 10:21

Really? Did you have the big arch? No, I haven't had a big arch yet. But I'm waiting. Debbie got a quarter pounder, I got a fillet of fish because I don't feel like the hamburger. And I looked on the window and it said, this was in Florida. This was Vero Beach, Florida, which is awesome. Anyway, it said uh starting pay$14.75 an hour, plus free food, plus tuition help, plus a retirement plan. You took the job? Plus medical insurance. Now I know you signed up. This is actually for a young person, you know, a younger person, this is actually a pretty good deal. Tuition assistance.

SPEAKER_01 11:00

Holy cow. I think we I think we've discussed the fact that my young'un works for a pizza place that I think pays her$19 an hour, but then with they divide all the tips between everybody on an hourly basis. She makes like$28 an hour. It's ridiculous.

SPEAKER_02 11:13

I hope a lot of that is going into her Roth IRA.

SPEAKER_01 11:16

She fully funded her Roth IRA for 2025.

SPEAKER_02 11:19

Wow. Okay. And that's what I was getting to. You got somebody who's working at 15, 16, 17, 18, 15. You got to be working.

Alternative Funding Strategies for Retirement

SPEAKER_01 11:25

They've got to be working. And you get, but the advantage there is that's forever going to grow tax-free. This at some point you're going to have to convert and pay the taxes. No, are we?

SPEAKER_02 11:34

At that one through 24, you're going to have to convert and pay the taxes. There is one other cool little backdoor way to help a young person fund their retirement plan that we did not mention. And it's relatively direct. It's a little indirect. And that's the 529 accounts. And that you can put money into a 529, which grows tax-free for educational purposes of almost any kind. It's a very broad list. But if there's money left over or if there's no education expense,$35,000 of that money over the next several years after they become a government. They gotta be employed and they got because they got to have income. They gotta have income. They have to have employment. But that money can be used to fund their Roth IRA contributions in those years, and they can spend their earnings on living and doing things. They don't have to contribute to the Roth. You can put$35,000 in, which we calculated, you know, would come out to seven.

SPEAKER_01 12:38

Yeah. Yeah. It's a pretty good deal. So but again, it's not as direct as this.

SPEAKER_02 12:42

So when I went out of the case, we've got multiple ways now that parents and grandparents and family and Michael Dell and Elon Musk, should they be so inclined, can help your kids. Should I give them my account numbers? Yeah, tell them about uh your daughter's account.

SPEAKER_01 12:56

Tell them about my daughter's school account.

Asking Family for 529 Contributions

SPEAKER_02 12:58

He's not gonna feel badly for you, but maybe her. No, maybe.

SPEAKER_01 13:01

Again, uh again, the the the the the new aspect of this is the again, lightly treading here, but I this is the only way I know you can retire add to a retirement account for your child without any income and without you know having to take it from the 529 to the savings. And here's the thing I like about it you could add any amount. Do something. I mean you could add 5,000. Right. That's how much you could add, but you could do any amount.

SPEAKER_02 13:28

If you do 500, let's just say you do 500, still, it's still gonna be several hundred thousand dollars that the kid will have that they wouldn't have had otherwise. Yeah. As an adult when they retire.

SPEAKER_01 13:42

Significant. Significant, no matter who you are in retirement. So these are isn't that a bigger gift? Well, I knew we were gonna go there. So this came up at the office recently because there's another person, young, another young person who's having a child, and we were just talking about the gifting. You know, people keep doing that. That's a whole girl pregnant thing. I know they're doing well. Uh and and they were asking me, you know, kind of how to ask other people to give to donate to a 529 plant for their kid instead of getting them gifts. Like grandparents, that kind of thing. It's tricky, right? Because just give us money. No, no, no, no, no.

SPEAKER_02 14:19

But you don't do it that way. Uh how I think you do it is, for example, if we're talking Christmas, send out an early Christmas card. Early, like around Thanksgiving. You know, and say this Christmas, you know, the kids have there, there's really nothing they need except they need an education and maybe a retirement plan. And you can help them have that by sending money to their 529 account, and here's the account number.

SPEAKER_01 14:49

Yeah, it'd be interesting to do that and see how it's received. Yeah. That I don't know. I mean, I wouldn't get mad, but like, yeah, sure. I well, I do that already with my grandkids, the 529. Sounds really practical. It does. So now I'm thinking I should with my latest granddaughter, I should be doing this in her Trump account. No, I did I say it? The YRA.

SPEAKER_02 15:09

Your daughter doesn't have a YRA, does she? No, no, no.

SPEAKER_01 15:12

My granddaughter.

SPEAKER_02 15:13

Your granddaughter.

SPEAKER_01 15:13

She was born in the city. Oh, because she's brand new. She's she's a 25er. So she's gonna get a free thousand bucks. She's gonna get the thousand bucks. Oh, good for her.

Answering Listener Questions

SPEAKER_02 15:21

And there's a family that really needs it. Man. Anyway, uh, hey, we want to we want to do something really important. We want to uh answer questions. Sign off? No, we want to answer questions. We think that's probably the best thing we can do. We can share stuff that we think is important with you, but our favorite thing is answering your questions, and we think it's one of the more important things. So here's how you ask us questions. We have multiple ways to do so. Way number one: this is left over from the old radio show that we used to do weeks ago. Remember you remember the radio show? We're now all podcast. You can call us, though, at 855-935 Talk, 855-935-8255, and ask your questions there. Or you can go to talkingrealmoney.com. There's a button that says ask a question, and you can type a question, which makes Tom oh so happy because he gets to wound yet another tree. Or kill them before they kill me. And I'll ask it on the Friday, or I'll answer I'll ask it. No. You'll ask it. I'll answer it on the Friday podcast. So do that. TalkingRealMoney.com or 855-9358255. Now Target.

SPEAKER_01 16:31

It's easy. Easy when you go to talkingrealmoney.com. You just click on the button that says ask a question.

SPEAKER_02 16:35

Now Tar likes collecting all the paper questions. It makes him feel good. There's something solid in his hands. You can crinkle them up and make noise with them and pretend like he's a famous old talk show host who's now dead.

SPEAKER_01 16:48

Yes, that's true, too. Formerly nicotine-stained fingers. Yeah, I got it.

SPEAKER_02 16:52

Golden mic, yeah. Yeah. Instead of your cheap little black plastic mic.

SPEAKER_01 16:56

We have, by the way, we used to have a backlog of these questions. We've been going through a lot because we had to kind of make a few maneuvers here when we lost the Saturday show.

SPEAKER_02 17:06

We gave up the Saturday show.

SPEAKER_01 17:08

When we gave up the Saturday show, thank you for that.

SPEAKER_02 17:10

Plus, we're getting ahead for your vacation.

SPEAKER_01 17:12

Oh, there is that.

SPEAKER_02 17:13

Yeah.

SPEAKER_01 17:13

Which one? Which vacation? One of many. Oh, okay. I know. I know. I think this one will be your please keep talking about your own.

SPEAKER_02 17:20

I think this one will be your annual sojourn to the desert in the Great Southwest.

Annuities: What You Need to Know

SPEAKER_01 17:26

It won't come a day too soon, let me tell you right now. I had snow two nights ago.

SPEAKER_02 17:31

You won't have snow in Phoenix. No, we will not.

SPEAKER_01 17:34

All right. Uh from Barry in Fairfax, Virginia. Ton and Don. Tom and Don. A friend of mine is recommending me to buy the nationwide New Heights Select 8 featuring the nationwide high point 365 Lifetime Income Rider with bonus. I have no knowledge of annuities. Please explain cons. No commission. Commission will be kept by us. They will invest it in the stock market. Ten-year surrender goes down 1% every year. Hopefully, you will pull info in about this info online, or I can mail you a few pages. Please advise should I invest in my should I invest it myself or put it in the annuity? And then he goes through the various uh things that are inside of this annuity, the Goldman Sachs New Horizon index strategy, the those aren't things that are in there.

SPEAKER_02 18:22

Those aren't things that are in there. Oh, I thought those are those are crediting, those are the the market. They're not indexes. The market Oh yeah, I don't even know what to call them. They're not really indexes. I'm trying to think of the market numbers.

SPEAKER_01 18:38

Similarities, yeah.

SPEAKER_02 18:39

Yeah, that they're following to credit the account. And I I went and did a whole lot of research on this. A whole lot. Yes, because I love doing this. This is an an equity indexed annuity. One of our least favorite. Uh the big lie. One of the the the no there's no commission. There's no commission. No, there's no. They get paid. They get paid, but you don't pay it. The company pays it. Did you notice I I found, I looked up the new height select nine. That was the one I found. I couldn't find the eight, but the nine. It's gonna be pretty cool. Go better. Go bigger. The new heights select nine has a nine-year surrender period. Maybe the new heights select eight has an eight-year surrender period. I don't know. And the first year surrender charge, if you want to take all your money out, you go, no, this isn't for me. I want out. They're gonna charge you nine percent of what you put in. Now, why what what is the significance of the nine percent? Why would they do that? Oh, could it be to recover the 9% commission that they paid to the agent who sold it to you? Maybe, could be, possibly.

SPEAKER_01 19:48

Okay, but beyond the fact that somebody's gonna write themselves a large check for selling this, or the company's gonna write them. What's the downside? Yeah, what why don't you like this equity and index annuity product from nationwide?

The Reality of Indexed Annuities

SPEAKER_02 20:00

You're not going to get what they imply, which is the returns of the market with no risk. Um, all of those big numbers they talk about, the guaranteed growth or the bonuses or whatever sales garbage they're spewing from their prevaricating little pie holes. Oh, that was a pretty good one, prevaricating little pie holes. Uh, whatever they're getting from those is kind of a lie. Because, for example, if they say you're gonna get 8% guaranteed growth, meh, nope. That's a little thing where if you inuitize it at the end and you give them all your money, they're gonna give you like eight or nine percent a year, but that's not real money. It's a fake, it's fake money. It's fake money. They're gonna give you a percentage of these weird, wacky index-like things that they say you can choose from.

SPEAKER_01 20:50

That's what the weird index-like things, that's the word you're looking for.

SPEAKER_02 20:53

They're gonna give you a percentage of that. There will either be, well, or it could be both, a participation rate. Say you get 80% of whatever these indexy things look like or do in a year, or you get the that rate up to a cap, but not above that cap.

SPEAKER_01 21:10

Wait, this is all sounding very confusing to me. What if I just invest in a few ETFs and I get what the market gives me? Ah, gee, it sounds much simpler, doesn't it? I don't know. And by the way, go get my money. Oh, okay. So I I okay. So that uh okay.

SPEAKER_02 21:26

But here's the real bottom line, and and I I've this this is the reality of these products. If you push, if you really push them, say, okay, I want you to show me some actual statements from actual people who've had something like this over ten years, you will see that the returns will vary somewhere between two and five percent per year.

SPEAKER_01 21:54

Which sounds a lot like the returns of the market. Trevor Burrus, Jr.

SPEAKER_02 21:57

It's a lot less than the returns of the market because I'm Because it's a no r or a low-risk vehicle. I don't even like to say no risk. Insurance companies like to claim they're no risk, but the reality is they're only they're as risky as the company, which is investing in a company no risk?

SPEAKER_01 22:14

Wait, is wasn't AIG an insurance company that we ended up owning part of?

SPEAKER_02 22:19

Almost went broke, yeah. Almost went broke.

SPEAKER_01 22:22

All right. So this is not something we would recommend. This is not something I think you need, but again, that's the part I always come back to. Don't tell you all the cons of this thing. I'm gonna tell you, do you need an annuity? No. Do you need somebody to give you a regular check? Because there's easier, simpler ways that are less expensive than the other thing. Well, no, no, no, no, no.

SPEAKER_02 22:40

Okay, wait, we're here's where we get into the problem of conflation. Um you may some people a lot of people, when they get to retirement, they've saved and invested and they get there and they go, okay, I want some of my income to be certain.

SPEAKER_03 22:55

Yeah.

Annuities vs. Direct Investments

SPEAKER_02 22:55

In those cases, and I think they're the exceptions rather than the rule, you may want an immediate annuity. One that just you give the money to the insurance company, you can never take it back, ever. But they promise to pay you a check for the rest of your life or the rest of your life and a spouse or something else, some variation on that theme. That is a semi-legitimate okay, that's a legitimate but not always best case example for annuities. Otherwise, for the most part, annuities are are sold, they're non-essential, they're designed to make the person who's selling the money, they're not as concerned about you. They're concerned about the the agent and the insurance company. Those are the priorities. You're the last priority on that list.

Expanding Our Reach: RetireMe Events

SPEAKER_01 23:45

And guess what? Speaking of being sold, I will make you a bet that the recently concluded first quarter will be a record for annuities. Oh, of course it will. Uncertain oil prices, markets down, etc.

SPEAKER_02 23:57

Yep, yep, yep. Because of all the concerns.

SPEAKER_01 24:00

Gotta give somebody my money, give it back for me. All right, let's go to another question from Glendora, California, DK writes. Can you please consider doing the retire meet in Southern California sometime in the future? No. I've seen you doing many, I've seen you have been doing in Seattle regularly. More folks can benefit if you do this in other parts of the country. Thanks for all you do.

SPEAKER_02 24:20

Okay, we tried this.

SPEAKER_01 24:22

Well, not in Southern California.

SPEAKER_02 24:24

No, but we tried it in other parts of the country. Here's the problem. Oh, that's true. We did back east. For it to work. And I honestly, I don't know that it's going to work all that well in Seattle from here on in, but that's just my opinion. This internal debate shall continue. Yeah. Um because what supported, what got us the audience that we needed to make it work was the fact that we were we had been uh decades on the radio in the Seattle area. We were well known. I mean, really well known in Seattle. Uh we're in Southern California, I can tell you our audience is it's probably in the many hundreds, but that's not enough to fill a venue with 400 people, 300 people. Not unless they every one of them shows up in the market.

SPEAKER_01 25:14

No, they're not all gonna show up.

SPEAKER_02 25:15

So the ads are we tried it, we tried it in other markets and the response was underwhelming.

SPEAKER_01 25:20

Plus, in today's world, fewer and fewer things are being done in person, more and more are to be done virtually. So you and you can watch Retire Meet, and I think by the time this podcast airs, if you can use the word, um the the Retire Meet 2026 will be available online. You can go watch it.

SPEAKER_02 25:35

It should be, and it's uh just exactly the same as uh content as as if you'd attended it in person. Yeah.

SPEAKER_01 25:41

All right. I got we got time for one more one more question. Whoa, whoa, no. No? No, that's it. We're done. We're done. Save that one. You got another one? I do, but we'll we we'll we'll do it another time. It's kind of a lengthy one anyway. Yeah. So okay. Well, you were complaining you were running out. I know, and the trees are looking very confident right now.

SPEAKER_02 26:00

So no, you were you you're gonna shake them a little bit. You were confusing me. No. We're remember what's our new what's our length of these, Max? What are we stopping? Thirty minutes. 20 to 30 minutes is the optimal length for a podcast. I don't know why Stacking Benjamins does like they do like 90 minutes or something, don't they?

SPEAKER_01 26:23

Well, we were just on one with 60 minutes, but yes.

SPEAKER_02 26:27

Keep them short.

SPEAKER_01 26:27

Which I enjoyed.

SPEAKER_02 26:28

Questions? Send them in. TalkingRealMoney.com, uh, ask a question, or call them in, 855-935-talk, 855-935-8255. And remember, for those bigger issues, you want a little bit of time with an advisor, and you're going, I don't know who to talk to. Well, that's why for the last 15 years, we've been offering you some time with one of our advisors at Appello Wealth. A fee only. You don't have to pay a fee. Fiduciary, 100% all the time advisor can look at your portfolio, help you figure out what you have, what you're doing right, what you're doing wrong, and there's no cost, there is absolutely no obligation, and I guarantee there will be no high-pressure sales pitch, because there never has been and there never will be while I'm here. Now, once I'm gone, all bets are off. I have no idea.

SPEAKER_01 27:24

Along many lines, by the way, that's true. After you're gone, a lot of all the bets are off.

SPEAKER_02 27:29

Yeah. So uh you just go to talkingrealmoney.com and click the button that says meet an advisor, and you can meet an advisor like Tom. Tom's been taking a ton of calls. A lot of meetings.

SPEAKER_01 27:38

Yeah, a lot of meetings. Well, because retire me too, talk talking a lot of people on retirement.

Closing Thoughts and Future Conversations

SPEAKER_02 27:42

And are you charging them anything? No. Do you pressure them to become clients? Not yet. Again, which I'm dead, then he'll do whatever he wants.

SPEAKER_01 27:51

I'll be hiring out those annuities.

SPEAKER_02 27:53

He's gonna be selling commodities.

unknown 27:55

Woo!

SPEAKER_01 27:55

Get some days.

SPEAKER_02 27:57

Yeah. Make some money. You gotta keep your stamina up for those days when you can sell indexed annuities. You've been looking forward to that. Oh boy. I'm gonna be a wealthy man then. We'll talk to you really soon. And what will we be doing when we talk to you? Well, we'll be talking real money.

SPEAKER_00 28:15

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