TRANSCRIPT FOR THE NOVEMBER 12, 2016 “ON THE MONEY” SHOW

Hosts: Gary Abely, CFP®, AIF®, CPA and Joe Bert, CFP®, AIF®

Yes indeed it’s an  expert Saturday morning on WDBO and this is On The Money brought to you by Orlando’s oldest and largest independent firm of certified financial planning professionals and that being the Certified Financial Group in Altamonte Springs. With us this morning we have two of the 12 certified financial planning pros with us. Say good morning to Gary Abely.

Good morning.

How are you sir?

I’m well how are you?

Couldn’t be better, thank you. Nice to see you. Along with the oracle of Orlando back in the studio, Joe Bert.

Good morning.

How are you sir?

Good, good to be here.

It’s nice to see you both here, and it’s so nice to be live in here on this kind of a gloomy, overcast morning.

It’s beautiful.

It’s going to be a nice day.

It is going to be a nice day. And rain.

Last night we walked around the Mateland Art Festival.

And?

Beautiful. I recommend people check it out. It’s gorgeous.

Where?

Right around Lake Blooming —

Right there in front of 1792 <?> and the <Inaudible>

Exactly, right across from Antonio’s if you’re a food person like me.

A foodie.

Okay Joe <?> in case anybody is new to this program, what are you guys here to take calls about?

Gary and I are here to entertain your questions regarding your personal finances. As we say, often times in our ads that unfortunately our education system has failed us when it comes to teaching us how to save and invest for our own financial future, because there’s going to come a point in time when the paycheck stops and what you’ll have to live on is your Social Security plus whatever savings and investments you’ve been able to accumulate over your working lifetime and they don’t teach us how to do this. We go through life trying some of this, trying some of that, and wake up when we are 55-years-old and find we have a collection of financial accidents and we have retirement staring us right in the face. So Gary and I and the ten other certified financial planners, the CFG, work with our clients day in and day our for a fee trying to guide them as to what they need to do so they don’t look back five or ten years from now saying gee I wish I would have known, or gee I’m sorry I did and to avoid those pitfalls. So we are here to take your questions and as I like to say on Monday through Friday we do it for a fee but on Saturday morning, we do it for free. So if you have any questions regarding your personal finances as they may relate to stocks, bonds, mutual funds, IRAs, 401ks, reverse mortgages, annuities, life insurance, all of that and more, Gary and I are here to take your calls and the good news for you is there is absolutely nobody in line on this Saturday morning and all you have to do is pick up the phone and dial these magic numbers.

844-220-0965. You could also text us from your mobile device. That texting number easy to remember, 21232. Send us a short text there. Or if you’re so inclined and you want your voice to be on the program you can use the open mic and you’ll find the open mic at the News 96.5 app. Investing uncertainty. I was reading this morning about the election and this week’s must read: No matter what Trump does, keep your hands off your 401k.

Well exactly Kirk, so what we are saying with that and what the article is saying is don’t make dramatic changes to your portfolio simply because we’ve had an election. Especially this time. I think the pundits were once again wrong. I read a Baron’s article the week prior and it suggested we could have a 5% to 10% sell-off if we had a Trump surprise victory and we actually got a 5% bump in the Dow the week following the election. So just the opposite. This gets to the point that no one can predict the outcome, but I think what we are likely seeing is enthusiasm for corporate profits. As we know we’ve had several quarterly declines in both corporate revenue and corporate profits and everyone is hoping of course that lower tax rates will yield higher corporate profits which will make the market thus more attractive. What do you think Joe?

I agree with you 100%. We need to get that business man in the White House and get a recognition that if it’s good for business, it’s good for America. Get people working again, lower those taxes and get that money in circulation. The repeal of the Dodd Frank Bill I think has the financial sector somewhat enthused to be able to lend to small businesses again so they can invest in machinery and equipment and new buildings and that’s what it’s all about. <Inaudible>

Well I think I remember the talk about maybe $1T infrastructure project and just looking at certain stocks in the infrastructure segment of our economy, they have just bolted higher.

Yes.

Yupp.

Can I throw a monkey wrench in here?

Sure.

Go for it.

I thought that it was Mrs. Clinton’s side that was <Inaudible> to Wall Street, not Mr. Trump.

Well certainly they gave enough money to her to be able to preserve their situation. I think that’s where they are hedging their bets. But I think they also realize as business people that if it’s good for business, it’s good for them. So everyone — not everyone, but the pundits for the most part anticipated a Clinton victory and <Inaudible> money. Clinton gave — Trump gave his money to Democrats in the past and that’s what politics is all about.

You spread your money for influence.

Yupp.

Question? Can I make mention that you’ve made a prediction on this race over two weeks ago?

Well I felt it coming. I’m not a prognosticator but I <Inaudible>. I knew there were a number of people — I don’t think it was so much a —

I hate to get into politics but I’ll tell you what happened —

I don’t think it was so much a pro Trump vote as it was an anti-Hillary, anti-continuation of existing policy vote. There were a number of people that wouldn’t admit they would vote for Trump simply because of how he portrayed himself on the air and didn’t want to be associated with somebody like that, but they did not want a continuation of the last eight years and all of the negative information that came out about her in the last year including the servers and the foundation and Benghazi and I could go on for an hour on all of that stuff — it didn’t help. Like I said I don’t think it was as much a pro Trump as it was an anti-Hillary vote.

Perfect. 844-220-0965. We are not going to talk about politics today. We are here to talk about —

We are here to talk about your money!

Your pocket book, your money that’s been kind of stagnant for the last eight years I might add. My 401k hasn’t gotten that much better, but it’s maintained. 844-220-0965 or text us at 21232. Don’t you have a countdown to retirement seminar coming up?

We do, in fact it is next Tuesday evening from 6:00pm to 8:00pm and I actually host that workshop. So we basically go through a checklist of what you may need to be doing about a year or two prior to retirement and we talk about what you need to do about six months before retirement. We also have one of the attorneys from our friends across the parking lot, Murphy and Burgland and they will be attending and talking about the specific legal documents that you should have in place prior to retirement and I would argue you should have in place period but certainly as you get into the retirement years you want to insure you have these in place.

So it’s a great workshop. It is absolutely free. It can be held at our offices in <Inaudible> Springs in our classroom. Gary is going to provide some light refreshments so you can come right after work and get some great information and it’s absolutely free, but what you need to do is make a reservation. So if you go to our website, that’s financialgroup.com. Click on workshops, you can make a reservation right there and get more information. So leave your checkbook at home. It’s something that unlike these free lunch and dinner seminars where they are trying to sell you something — people say why do you do this kind of stuff? We do it for basically two reasons. Number one, to help educate the public about what they need to do and try to prevent some of the train wrecks that we see walking into our office and secondly to introduce you to our firm, what we do and how we work with our clients this way, whether you need financial planning now or sometime in the future. Perhaps you gave us an opportunity to earn your business. So go to our website, that’s financialgroup.com. You can make a reservation right online. That’s this coming Tuesday, 6:00 to 8:00 at our offices in Altiman <?> Springs right there off of 434 and Douglas Avenue.

One thing to add, Joe, to that, one of the reasons we like to get people a few years prior to retirement is there are plenty of tax strategies that if you can plan ahead a few years that you can potentially save tens of thousands if not hundreds of thousands of dollars in taxes maybe by not having your Social Security benefits taxed if you can do some proper planning. So we will talk some tax strategies as well for those that are able to plan ahead.

Alright, it’s coming up on 9:15, a quarter past 9:00 at WDBO and Dave Walls in the news center, he will be joining us in about five minutes with an update on the big three stories we need to know.

A text that just came in: I just started working a professional job and I’m interested in starting a retirement. Should I look at a Roth IRA or 401k or what should I do. Got a professional just starting wants to know what path he should take. Gary what should he do?

Well I want to know what tax bracket he’s in. Because the question is should I do the Roth IRA or maybe Roth 401k, or a regular 401k? I typically want the tax deduction now while I can get it because I don’t know the tax policies in the future and certainly anybody in the 25% bracket or higher I think should be taking advantage of pre-taxing their retirement contributions. So I would say stick with the regular 401k and it sounds like professional job he may very well — or she may very well be in that 25% or higher bracket.

And it’s a no-brainer if you get a match.

Oh my goodness, well yes definitely. You want you put your money not necessary in an IRA because that’s all your money, you want to take advantage of the full match with your employer.

How often do we hear people say I’m maxing out my 401k thinking they are getting just a match, and they are putting in 3% or 4%.

We want to try to live on 90% of what we make, save 10% and if you can afford to do more, maybe you haven’t started the family yet or you don’t have some of those expenses, try to do more early because the compounding of money will pay huge benefits later. As I say huge!

Again the telephone number, come on join us. Speak to Joe Bert and Gary Ably this morning. Come on. 844-220-0965. I can’t explain what the phone lines aren’t lit up.

Well because people are texting. Text us at 21232. Here’s another one: I’ve been thinking about investing in mutual funds. Can you talk about the pros and cons of mutual fund investing?

Well clearly the pros are diversification. So a mutual fund packages many stocks so that you don’t have concentration risk investing in one particular stock and those come in two varieties: actively managed funds, and passive or indexed funds. It’s interesting to note that about 60% of the active funds that outperforms the passive indexed funds of late, so some folks like to have a mixture of both, some prefer active all, or some prefer all passive, but indexed and active funds should be part of everybody’s portfolio. And if somebody is young and they have an affinity for maybe one or two companies, it’s okay to have a little bit of money investing in individual companies but you want to avoid that concentration risk of having more than 5% of your net worth in any one investment.

I think the people that are unfamiliar with investing, they think about stocks. Of course when a company has financial difficulties, files Chapter 11, big name companies that we’ve all heard about, Enron, Worldcomm, <Inaudible> Kodak, whatever it might be. That makes big headlines. So people say oh my gosh the stock market. I don’t want to go anywhere near that because I could be in the wrong place at the wrong time, but if in fact you’re using a mutual fund, you have investments in hundreds, sometimes thousands of companies all over the world. And unless the entire world economy goes down, and if that happens everything else is worthless anyway.

Then it doesn’t matter.

It doesn’t matter.

One of the reports that we use —

Benefits of diversification in a mutual fund.

Exactly, and one of the reports we use in evaluating our clients’ portfolios is called a stock intersection report and we might have ten or fifteen mutual funds within a client’s portfolio when we dig down into the details and we want to know how much maybe Apple or Exxon we have combined with these ten or fifteen funds and I personally like to have no more than 1% in any one company.

The other benefit of course of using a mutual fund is you’re not trying to pick how that individual company will do. We are all familiar with everything we use everyday whether it’s BMW or Apple or General Motors or AT&T. We all — so we think we know how those companies might do. But the mutual fund, that manager, that team is making those decisions for you based on a number of criteria and information that you and I as consumers don’t have access to. They dig deep down as to how those companies are — how they project they are going to perform based on their product line, based on their industry, based on management, based on labor contracts. All of that information goes into their thinking whether or not they want to invest your money in that particular company. And of course the ultimate return or gain on that mutual fund is you get a function of how well those managers do. So when you invest in a mutual fund, you don’t want to just invest in a name, you’re really investing in the manager that’s making those decisions. And that’s one of the things we look at when we pick out the funds. Or we talked about the criteria that we use when we look at the funds. All of those 11 points and the — we’ve got to take a break. Kirk’s raising his hand here.

I’m on a roll. <Inaudible>

Sounded great.

Then we are going to talk about the negatives too.

Not true <Inaudible> talk about the negatives as well.

<Inaudible> these two I love it.

9:26 on WDBO.

It’s great listening to it on headphones you know? We get the full <Inaudible>

We do. <Inaudible>.

The oracle of Orlando Joe Bert enjoying his soft side here. Sugar Pie Honey Bunch. Who plays this Joe? Fortas.

Fortas!

Very good.

Alright we’ve got some callers coming in here. Let’s see, is this Gail?

Yes.

Hello Gail good morning. Thank you for calling how can we help you?

Good morning, thank you for all of your help first of all. I’m turning 60 in January and my widows benefit —

Gail that’s the new 40 you know.

That’s it exactly. I have widow’s benefits that will kick in, in February and I’m allowed to make $15,000 before I have to start paying back. My question is if I put more in my 401k will that lower my wages?

It will, well it will because your — well let’s look at this. Your taxable, federal taxable wages will be lower but your Social Security wages will be the same. So when you contribute to a 401k you reduce your taxes subject to federal income tax but you do not reduce your Social Security wages.

So she’s won’t — So she doesn’t have to worry about the offset?

I think what you’re asking is if you contribute to your 401k can you reduce your income enough not to have to pay back $1 for every $2 that you earn over the threshold. Is that they question?

Correct, yes.

That’s a good question. Based on your federal taxable wages, and not your Social Security taxable wages, but I would want to look that up just to verify it, but I’m pretty sure you would be okay. Call our office on Monday and I’ll double check it in the IRS code but I’m pretty sure that would be fine.

Thank you so much.

You’re quite welcome Gail. You’re on the right track of trying to put the money in the 401k though.

Absolutely.

Okay, the telephone number she can call is —

She can call us Monday on 407-869-9800.

I think I’ve got this right, is it Parry in Orange?

Parry?

Yes?

Good morning, thank you for calling, how can we help you?

Good morning, question for you. I’m a current federal employee. I contribute max obviously to my TSP along with catch-up. I’m due to retire in a few years and my question is do I keep my money in my TSP account or I’ve also heard to move it into a standard IRA.

Well that’s a good question and you have as I like to say 30,000 options or more when you move something into your own IRA and you control the fees associated with it. When you leave it as an employer sponsored plan, you have only the options offered in that plan and you don’t have any control over the associated fees charged for administration or advisory etc. So I am a proponent of having more options so that you can build a portfolio that suits your own risk tolerance and also have control over it.

The most important thing that you need to know Parry before you launch off on that is how conservatively that money can be invested to still be sure you don’t run out of money when you’re 87-years-old and that’s where planning comes in. It’s just not a matter of picking investments, it’s really knowing how those investments should be structured. So my recommendation is give us a call, that’s what we do day in and day out. We charge a modest fee for that information that I’m sure we can help you.

If you want to find out how you can get a one-on-one complementary consultation, how do folks go ahead and do that Gary?

They can go to our website, financialgroup.com and at that website you can request a complementary consultation and you will be partnered with one of the 12 CFPs in our office and we will find a time that works for both.

You’d be really lucky if you’re partnered with Gary because he’s a CPA too.

That’s correct.

He’s the go-to-guy in the office.

Alright stick around, we are going to go to Dave Wall in the news center and then come back and take some more calls at 844-220-0965.

1962 I remember it well.

Oh my.

What were you doing back then?

I was driving. 16-years-old.

Listening to it on an eight track was it?

No are you kidding, we didn’t have eight tracks back then, we listened to car radio. Windows rolled down, summer night. Oh.

Alright Franky Valley and the Four Seasons. Actually that was Joe Bert doing the aye, aye, aye. 844-220-0965. Gary, let me ask you, what are you here to take calls about from everybody?

We are here to take calls on IRA questions, Social Security questions, maybe long-term care, maybe you have a question on Medicare. Basically anything that effects the pocket book and your Questions regarding can I retire early, can I retire? Do I need to work longer, how much should I budget for health care in retirement?

Gary, you’re the in-house Medicare expert, unfortunately.

Ha ha ha!

Well, you know, when you turn 65 your mailbox starts filling up —

Oh my God.

Yeah. Yeah. Yeah. And you —

I’ll make mention, that’s a good segue into <Inaudible>. Because we get so many questions from our existing clients we are doing a new workshop–

Special workshop.

Special workshop. It’s actually going to be Thursday, December 1st, on health care options in retirement, and what we’re going to be discussing is what are all the different options once you are Medicare-eligible, and what are your options for long-term care, whether you need a plan for Medicaid because you don’t have enough money for insurance, but you know, what does Medicaid pay? Or is there a waiting period for a long-term care facility in Florida?

Those are the other kinds of things we’ll talk about and we’ll also talk about the tax strategies as well and <Inaudible>.

So for more information go to our website, that’s financialgroup.com, financialgroup.com, click on workshops, and you can find out about the one we have coming up on Tuesday evening, just coming Tuesday from 6:00 to 8:00pm at our office in Altamont Springs right there off of 434 on Douglas Avenue, being held in our classroom. Gary’s going to be talking about countdown to retirement, what you need to do now, so you prepared for those retirement years. The toughest cases that we work on are clients that have not done any planning going into retirement, and come to see us six or seven years into retirement, the wheels are coming off–

That’s right.

And they have to make some really tough decisions, so you want to get your planning done before you retire. And sometimes the only options we have is perhaps getting a part-time job, and then physically some of our clients aren’t able to do that. So making some–

Major, radical lifetime changes.

Yep. Yep.

All right, the number’s 844-220-0965. We got a call coming in from Wayne on line one. Wayne! What’s up? Thanks for calling!

Hey. Jay, good morning, how are you guys?

Good morning!

Great!

Well, I’ve got a couple of questions about mutual funds and I’ve got a 401(k) set up with the company I work for, but then also I’ve got some money that I ended up with, having some tax savings–

‘Kay.

And I was looking to take and invest that and try to put it to work a little bit harder for me other than just letting it sit in the bank. I’ve got about oh, 70,000 or so that I can take and invest.

All right. How much are you putting in your 401(k), Wayne?

Uhhh, 15%?

What’s it in dollars?

Uh–

How much you put in every paycheck? I’ll do the math for you.

About between $400 and $600.

And how often you get paid?

Twice a week.

Twice a week. So 26 times a year, you save about $15,000 into your account. How old are you?

49.

49. Are you just about to turn 50, because I’ve got good news for you.

Yeah, next year you’ll be able to put away up to 24,000, it’s remaining the same, so for our listeners, anybody under 50 can put away 18,000 in the 401(k) and I think where Joe was going with this is go ahead and max out your 401(k) so you can do a little bit more, maybe another 3,000 more but check the math, and next year I can put away 18 —

24.

I’m sorry, 24. Yes, an extra 6,000, and what you could do, Wayne, is live off of your savings outside of your retirement account if you need to for cash purposes so that you can get a lower paycheck to fully maximize what you can put away. And I’m glad you called, Wayne, because we were — we have that other question about the negatives of mutual funds and you’re wondering what to do with that 70,000. And one negative, if you will, and this would be about the only one I can think of of investing in a mutual fund is if you invest in a mutual fund late in the year since now, you could be assessed capital gains distributions from what that particular fund earned and realized from the sale of stocks, even though you yourself did not participate in those gains. So, for example —

Yeah, so better to do it earlier in the year than later in the year?

Well, now —

What I would say, Wayne, is what you could do is do it now, but make sure you buy what’s called a tax managed mutual fund or buy a low turnover mutual fund so that the capital gains impact would be nominal.

And this doesn’t apply for retirement accounts.

Yeah, right. With retirement accounts you’re fine, and the 401(k) you’re never going to pay taxes on that until you start taking withdrawals or investing in mutual funds outside of retirement plans, you could be assessed capital gains distributions and of course you always have to pay taxes on the dividends, and those are typically at preferable rates, talking 15% for most people. So I would recommend not waiting, not that we’re market timers, but this typically is — you know, it’s easily a good period to be in the market and the best time to get your money working for you is today. So just be careful of the funds, and you can look up the capital gains impact of the funds; that information is published for the fund or give us a holler if you want some guidance.

Wayne, what I’d like you to focus on is getting that $24,000 a year into your 401(k), and as Gary said, live off of that extra money that you have and get focused on getting that $24,000. That’s going to make a huge difference for you when you retire and on your tax <Inaudible>.

Yeah, and it’s a way to turn some of that money into tax deductible money.

That’s right. So the way you’re shifting, you’re not bringing as much home on your W-2 so you get a tax deduction for the next $6,000 <?> that you’re going to put in. Thank you for the call. Gary, you can join us at 844-220-0965, or text us at 21232. We’ve got another text coming in here: I’m 62. If I wait until 65, to collect Social Security will the three years of no income bring my Social Security amounts down?

Oh, so that’s a good question and I’m glad you asked that, because we were just — Denise and I in our office were just talking about that, and she had run a Social Security analyzer. It’s a software that we use to help couples decide what is the best claiming strategy, and incidentally while I’m thinking of that and while we’re answering this text message I wanted viewers, or our listeners, rather, to know that the next Social Security boot camp that is hosted by Denise Kovacs and Nancy Peck will be January 19th, Thursday, from 6:00 to 7:30. So if you want an in-depth analysis of what your strategy should be please come to that workshop. But the answer to this question is if you had three years with no income yes, it will bring your Social Security amount down in most situations, because the benefit estimate that you receive from Social Security will assume that you are earning the same amount of money you have earned in your most recent year all the way up through full retirement age. And so because you are probably four or five years prior to full retirement age, it will reduce your benefits. Now. How much will it reduce is really dependent on what your earnings history is, and so what we ask our clients to do when they come into our office is bring your earnings benefit statement because what they do is they take the highest 35 years and they average those, so let’s say in this particular example on the text that this individual has 30 years of employment. If they stop, they’re going to have five zeroes averaged into it, and that will have a pretty good impact.

Right.

So remember, they take your high 35.

That’s right.

So if you’re in your prime earning years those early years, when you were caddying about —

<Inaudible>

Publix, those drop off, and and it really has an impact.

Huge impact.

Huge impact.

Definitely stuff you want to look at.

And also she said I’m 62, if I take it to 65, full retirement age for this person was 66, plus!

Right, right.

So you’re going to penalize yourself. So you want to, you want to — if you can, you want to avoid taking Social Security any earlier than you have to because that’s guaranteed money and we talked about Social Security being there, people are afraid, you know, well, I’m going to get it now because it’s not going to be there. What’s your attitude on that, Gary?

Well, for younger folks, when we’re doing plans, that would be for folks in their 40s, maybe very early 50s. What I do is I take somewhat the advice of the Social Security earnings benefit statement which says in about 20 years the government will only have about the ability to pay about 75% of what your benefit amount is stated on that form.

Assuming there’s no adjustments.

Assuming there’s no adjustments.

And I believe there will be. You know, the question we get asked a lot is should I take it now? I’m worried if I don’t take it now that it — they may change it later. I firmly believe they will keep their commitments, because we have the ability to keep printing money. Doesn’t cost a lot of money to print paper. The only issue is what that paper will be worth, so I think — think you’ll get your money, but if you want to be conservative you could budget 75% of what the amount says.

Coming up on 9:47 on WDDO, Dave Wahl is in the NewsCenter, and he’s got the latest news, traffic, and weather coming up, in just three minutes so you don’t want to miss that. Joe Bert is the Oracle of Orlando, comes in every Saturday for the last 30 years maybe now?

Yes, Dave. Tomorrow morning, at 8:20, Gary will be on Fox 35, 8:20, and he’ll be talking about–

Both of you or just Gary?

Gary’s going to be on the television, Channel 35 at 8:20, so you can catch him.

And what we’re going to be talking about there is the claiming strategies, withdrawal strategies, and how you can help lower your taxes in retirement by being specific with where you take your distributions from so that’s very important.

Tomorrow on Channel 35.

Channel 35 at 8– about 8:20. Yep.

I hate to say this, but tune in, and watch it, and back me up when I say this guy looks like James Bond.

Ha ha ha!

Yeah, you’re right.

Daniel Craig!

Yeah, now that you mention it–

Yeah, but he’s bigger than Daniel Craig.

Really?

Yeah, he’s a little guy.

Oh, he’s–

Yeah, you know you’re right?

He looks just like him! So, tomorrow what time on Channel 35?

8:20.

8:20 tomorrow on Channel 35. Back me up on this, I know when I’m finished. All right, so by the way how long can I wait? Let’s say that I want to retire at 62, but I don’t want to take Social Security and I’ll just live on my savings up until I have to take Social Security. When do I have to take it?

Well, you never have to start taking it, but then there’s no advantage to waiting past the age of 70, and it’s funny because we did some math for a client who was 69 years old and two months and they got a call, in fact, Denise is in the office next to mine so we chat a lot about experiences with clients, and she had a client, I think he was, say, 69 and two months, and Social Security actually reached out to him, and said, gee, you may want to start it now because the difference between now and age 70 is $X and we did the math on it and it was something like 18 years’ difference before — So it made sense, especially if in those 10 months that person was able to simply save that money and invest it, they didn’t need it to live on. So, anyways, lot of interesting conversations.

All right, we’re going to go to the NewsCenter right now and hear from Dave Wahl. Want to give out the phone number. If you want to join us there’s still time; the number’s 844-220-0965, or text us at 21232. We’ll answer this on the other side of the news– how much money do I need to start investing?

Basic question.

We’ll get it answered with Jerry Aveling and Joe Bert, from the Certified Financial Group, because you know like every Saturday <Inaudible> tomorrow — today!

<Background Noise>

I got sunshine, on a cloudy day, when it’s cold outside, I got the month of May. I guess you’d say, what can make me feel this way, my girl.

My girl!

My girl!

My girl!

You know, <Inaudible> our listeners can’t enjoy what we <Inaudible>.

Huge TV, and you’ve got this YouTube video of the Temptations doing their routine–

Love these guys.

Pink pants, white shoes, and–

Love those collars.

<Inaudible>.

What do you call that kind of haircut, a bouffant? A James Dean type?

Yeah, oh yeah.

These guys were stylin’ back then. That’s the Temptations. Haven’t heard from the Four Tops today and also from the Four Seasons and the throwback here Saturday with Joe Bert, disc jockey par excellence. Thank you, Joe.

You’re welcome! <Inaudible>

He picked ’em. Also with us, Jerry Aveling from the Certified Financial Group. Earlier we mentioned that there was a Social Security claiming strategy boot camp coming up here with your colleagues Nancy Peck and Denise Kovacs. When is that going to be?

That is Thursday, January 19th, from 6:00 to 7:30, and we’ve got a couple of other workshops; while we’ve got a minute I’ll mention them. The next other workshop we haven’t talked about is when can you retire? And so this is designed to answer the question Joe brought up, is we don’t want to see people six years into retirement find out that they retired too early or that they have been spending too much money. So it’s also known as Know Your Number. We want you to know the approximate amount of money you need prior to retiring. A lot of folks don’t realize, but over a 20-year period for retirement you’re going to need over $0.25M just for health care and if you want to fund health care and long-term care which I guess that’s both health care, that number is over 450. And these are real numbers that people are current spending, and of course if your health is not up to par you’ll be spending more than that. And the last workshop, this one’s not until March 4th, it’s a Saturday from 11:00 to 1:00 but certainly be thinking of it if you’re a grandparent out there, and you have some grandchildren or parents with folks, I’d say 15, 16 and higher, this is a good way to teach financial basics. It’s entitled financial basics for life, strategies for success.

This is what you really like as a teacher.

It is.

<Inaudible> schoolteacher.

I really like–

Because you know, I used to do this in high school and then I saw the teachers writing down notes frantically and I realized this has got legs, this isn’t just for high school students, this is for adults too.

We got a text here.

We got a text here. How much money do I need to start investing? Well, depending if you have a 401(k) plan at work, you can start with $1 a paycheck.

That’s right, yep.

And if you don’t have that, there are some mutual funds that have low monthly contributions, I believe as low as $50 a month, in fact that’s how I got started, I started investing in college and there was something — I can’t remember the name of it, it would have — it had 100 in its name, I don’t even know if the mutual fund exists now. But it would say the largest 100 stocks and you could get started with I want to say it was $250 to get started and then a $50 a month automatic withdrawal from the checking account or something like that. Those certainly exist and then there’s some robo-options that you can do probably even $25 a month I’m guessing so if you have questions on that certainly give us a holler we can help point you in the right direction. It is never too early to start.

The earlier you start the more you–

Absolutely. Yep.

But I refuse to let you go!

Oh, we got that. Go, Joe.

Ha ha ha!

All right, guys, so how do folks reach you during the weekend?

They can either call us at 407-869-9800, or they can reach us at our website, financialgroup.com.

The information presented on this program is believed to be factual enough to date, but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. Discussions and answers to questions do not involve the rendering of personalized investment advice, but is limited to the dissemination of general information. A professional advisor should be consulted before implementing any of the options presented. Certified Advisory Corp. is registered as an investment advisor with the SEC and only transacts business in states where it is properly registered or is excluded or exempted from registration requirements.

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