Revisiting the benefits of tax-deferred savings. TRANSCRIPT

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Stay tuned for on the Money Central Florida’s most listened to financial call and show Bronte You by Certified Financial Group in Altamont Springs. It’s the only show hosted exclusively by certified financial planner professionals. Monday through Friday, their CFPs provide financial planning and investment advice for a fee. But on Saturdays, the advice is absolutely free and has been for more than 30 years. For their WDBO listeners, if you have a financial question you want answered by real fiduciaries, the lines are wide open. Call five 80 WDBO, that’s 8 4 4 5 80 WDBO and enjoy the show.


And welcome to On the Money right here on WDBO 1 0 7 3 FM AM five 80, always streaming. Live inside your WDBO at my name is Josh McCarthy. Joined in studio today with Joe Bur and Rodney Obe with the one and only certified financial group by now every Saturday morning certified financial group is here on WDBO, on the money answering your financial questions. Maybe you heard something in the news, maybe you got a buddy who’s got an offer that you just can’t refuse, but excuse me, but you want to run it by the experts first. That is the point of this show, one of the longest running shows of its kind in the entire world. Certainly the longest running here in central Florida,

At least your chance

To call in. Say that again, Joe,

At least in Altamont Springs. That’s right. That’s

Right. Certified Financial Group, one of the top 100 firms in the country listed by the CNBC. Rodney. Joe, how are we doing today? We’re

Doing great Josh. Good to be with you. As we have been now for more than 30 years, Rodney and I are here to take calls regarding anything that’s on your mind. This is not a one hour infomercial. This is something that we do have been doing, as I said, from more than 30 years now, speaking with our WDBO listeners across the area. Answering questions that you might have regarding your personal finances, decisions that you’re trying to make or trying to figure out regarding your 401k regarding an IRA long-term healthcare regarding stocks, bonds, mutual funds, reverse mortgages, life insurance, all that, and more of the things that Rodney and I and the 14 other certified financial planners work with our clients day in and day out for a fee providing retirement planning and investment management. But on Saturday morning we are here for you absolutely free. So if you have any questions on any of those topics or anything else I may not have mentioned, the good news for you is that Saturday morning here at nine o’clock, the lines are absolutely wide open. So you can create the line by picking up the phone and dialing these magic numbers. You

Can call or text your question in 2 8 4 4 5 8 0 9 3 2 6 8 4 4 5 80 WDBO or use that open mic inside the WDBO app to send in your best 15 to 20 seconds of a question. We’ll answer it on the air as only Joe and Rodney with the certified financial group can 8 4 4 5 80 WDBO. Today’s topic, we’re going to revisit the benefits of some tax deferred savings.

That’s right Josh. This is something that, we probably talk about this every Saturday and I know we talk about it every week when we meet with our clients. We just know it. We know that there’s advantages to saving in tax deferred savings vehicles, but I had a chance to, I met with some CBC 401k clients this week. Well,

Folks may Nott know what CBC is.

CBC is certified Benefits Corps, right? So it’s our 401k management subsidiary.

So we met with them and I thought it was a good opportunity to talk to them about the benefits and actually look at the numbers, crunch the numbers of what that looks like, the advantages of saving in a tax deferred savings vehicle versus after tax, after tax savings. And I dug up some numbers that we had. Heather and I ran these six years ago. It’s been a while and I updated them with the current limits, but the math is still the same. So we’re looking at two different individuals here. One is saving in a 401k and then the other one’s saving in a CD after tax. So they each make a hundred thousand dollars a year and they each contribute 11%. So $11,000, just about half of what you can contribute.

And they’re how old?

They’re under 50. So the maximum they can contribute 2023 is 22,500. They’re contributing about half of that 11,000 for each of them. One is putting it in 401k in a 50 50 portfolio, 50% stocks, 50% bonds, and we’re assuming a 5% return on that 50 50 portfolio just for simplicity. We’ll adjust that as we work through the scenarios here. The other is saving in a 5% CD after tax saving those funds after tax.

So once again, they have a hundred thousand dollars, they put the a hundred thousand dollars in pre-tax, so the whole a hundred thousand are working for them. The other one says, no, I don’t want to tie it up in my retirement plan. I’m just going to get this a hundred thousand dollars, pay the taxes on it and then put what’s left in the cd. Is that right? Exactly. And what tax bracket are we looking

At? So we’re looking at the 22% tax. Got it. They creeped up over into the 22% tax. Got it. Okay. That’s what we’re assuming here. 22% tax rate each saving $11,000 one pre-tax, one post-tax. Got it. And this actually stems from a conversation that I had with a gentleman several years ago where he was arguing with me that his company had no 401k match, so he was was going to contribute to CD after tax.

Ah. So he said, the heck with it, my company’s not going to do a 401k match. I’m not going to put any money in, stick it to your company. I’m going to do my own thing. Exactly.

Got it. And that’s one of the other assumptions that we start out with here, that there is no company match, just do equate these two scenarios. Got it. Okay. So there’s two things happening. First of all, there’s a tax drag on the cd, right? Because every year you earn interest on that CD and you have to pay taxes on those earnings, right?

Okay. So with your a hundred thousand dollars, if you’re 22% tax bracket, if you’re assuming your full 22%, you only have a 78,000 to put in the plan orange of the cd, right? Is that the assumption you use? Exactly. Okay, got it.

So there’s two effects here. There’s that tax drag, so you end up, actually, if you’re saving pre-tax, you save the same amount, but you have more disposable income. Got it. Right. And then you don’t have a tax drag on the 401k vehicle, so your savings actually grows more quickly. So I mean, we know that there’s some changes we can make to the return assumptions to make this more realistic, but this is just to get an apples to apples comparison to these two scenarios. Got it. So over a 10 year period, just in the savings portion of it, the 401k, you can accumulate over 6,000 more dollars just in the savings part of it. And in terms of the disposable income, because of the tax drag on the cd, you accumulate an additional $24,000 in disposable income.

So are you saying that with the 401k you were $30,000 ahead, 24 and six?

Absolutely. Exactly. So

Same a hundred thousand dollars.

Same a hundred thousand

Dollars, but I’m $30,000 ahead after 10 years. Right.

Got it. And with these very conservative return assumptions, so if we enhance this a little bit, so say we add the 3% company match got, which as you know is fairly typical for what companies do in terms of matching their employees contributions. So if we do that, then the savings difference, the accumulation in the 401k versus the cd, that difference actually goes up to 28,000. So we’re really starting to magnify the return now over time. Right. Got it. The disposal income is still 24,000, but we have a total now of $52,000 difference.

So I’m $52,000 ahead by putting the money in the forward,

Putting the money in the, and this

Is only after 10

Years. This is only after 10 years.

So you run it from 50, you to start at age 15, is that what you, any 10 year period,

This would assume age 45 to 55 is sort of where we started this, but we didn’t increase the contribution. And as you know, after age 50, you can contribute more right to those savings vehicles.

So did you run it out for more than 10 years?

We did not, but as you know, the compounding effects of this will only magnify over time. The other thing to think about is the max, even if you’re under age fifties now, 23,000 and we’ve only contributed half of that. So the wealth that you can accumulate over this time period is significant. Gotcha. So in the next scenario, we assume the company match, but we assume a more realistic 6.5% return on the portfolio, the 401k. Got it. And still keep the 5% return on the cd. And in that example, the savings expands to 40,700. So $41,000 in the savings part of this, still 24,000 in the disposable income piece. So we’re looking at a total of almost $65,000

And only a 10 year timeframe

And only a 10 year timeframe. Right.

So you take that out over 15, 20, 25 years, it gets in the hundreds of thousands of dollars

Very quickly. Exactly. And the other thing that we are not even contemplating in this example is people get pay increases, right? Oh yeah. Period. We hope and they increase those contributions typically in the typical scenario, right? Yeah. So in the fourth iteration of this scenario, I went out and I looked at five-year CDs, and as you know, they’re pretty high now, so I just wanted to see what we could actually get for a five-year period now, and it was 4.3%. So if you factor this in, so you’re not at 5% anymore, you’re at 4.3% CD your tax, you’ve got the tax drag. So now you’re looking at almost $70,000 in incremental wealth accumulation from participating in the 401k versus after tax saving. So pretty significant.

We see that time and time again, and as we’ve said time and time again, is that your silver bullet of having a decent retirement is saving money on your own because social security will not do it for you. It’s what you’re able to accumulate between now and when you stop working. And the best way to do that is to get a tax deduction today and let the money grow for you without being taxed until it’s time to take it out. Because compound interest is compounding on top of compounding, on top of compounding, and the bigger the pile, the bigger the pile gets. Snowball, right? It is a snowball, and I think the real tragedy is Rodney, and you see this, I see this particularly with the young folks. They say, well, I’m 28 years old, I’m only 30, I’m only 35, I’m only 40. And before you know it, you’re 50 and you’ve wasted all that time and all that ability to compound money, and this is one of this is I think a terrible failing of our educational system.

I’ve gone in schools before and shown kids about how money will grow compounding, and it’s the one of the world, and unfortunately they don’t teach us this stuff, but we don’t realize this stuff until it’s too late. So the lesson for this morning for our listeners is if you have a retirement plan at work, whether it’s a 401k, a 4 0 3 B, a 4 57 or whatever it might be, work on putting in the maximum that you can and increase it every year until you get up to the maximum and over age 50 today it’s what? $30,000, right? Right. Exactly. $30,000 is the maximum that you could put in, and that’s a tax deduction right off the top. This time of year, everybody’s looking for tax deductions because we can’t itemize anymore, but you can. This does not affect your itemized deductions. So you get that deduction and by far and away, it’s the best way to accumulate money for the future and it comes out of your paycheck, you don’t see it, and if you don’t have it in your wallet, I don’t have it in your checking account or wherever you stash your money, chances are you’re not going to spend it.

And in some plans it’s always there in case there’s emergency, you can borrow on it and you’re borrowing from yourself. So that’s not too bad and it’s better than putting it on a high expensive credit card or something like that, and you’re paying yourself back, so kind of acting as your own bank. You don’t want to use your retirement plan as your savings account to pay for the vacation or the big screen tv. It’s really for your retirement. But we know when life stuff happens, if you got money in there to tap into then, but you want to use your retirement plan to the maximum that you can because social security is not going to cut it. So that’s a great demonstration. So maybe on one of our future shows, you can run that out over 25 or 30 years and tell our listeners how many and see the rules, hundreds of thousands of dollars that makes a difference.

And on Rodney mentioned our CBC, our Certified Benefits Corp, which is the 401k, 4 0 3 B arm of our company that provides retirement plans to businesses really in various states around the country. We have on our website calculators that you can see what this does for you if you’re able to save money and how much it’ll compound and grow really what you need to save on a regular basis. So a lot of the plans, I know all the plans out there have the same thing. Use those things. Take a look at really what the impact is of time and compound interest. It’s like I said, it’s the eighth wonder of the world and unfortunately we don’t realize that until it’s too late. And I hear the bumper of music there, Josh, so take it away,

Buddy. That’s right. I remember the day that the Joe Bur of my high school came in and talked to us and I wish I would’ve listened to him then. I didn’t really listen until I started having kids and thinking about the far off future, but that’s what you guys are experts in your fields and you can inform us to do the right thing at the right time, even if it’s just a little, it can go a long way over those time, over those years that you have ahead of you. 5 8 0 9 3 2 6 is the number to call. If you want to talk to the team at Certified Financial Group 8 4 4 5 80 WDBO, send in your question via text, send in your question via the old fashioned way by talking to me or sending in your open mic using that WDBO app you are listening to on the money or we’re planning tomorrow today with the certified Financial Group. Welcome back to On the Money right here on WDBO 1 0 7 3 FM a five 80, always streaming live inside your WDBO app, 8 4 4 5 8 0 9 3 2 6 is the number to call to get your question on the air. 8 4 4 5 8 0 9 3 2 6 is the number to text to get your question on the air. Send in your open mic to the WDBO app to get expert advice from Rodney OBE and Joe Bird with the Certified Financial Group. We’re get a text roll in during that break. What do you say? We hit those text questions now.

Let’s do it.

Alright. This one comes to us from a listener. My friend said he signed up for 6% fixed annuity. Do you believe this is true and if so, what are your thoughts?

Well, perhaps

Rodney, I believe it probably is true, but the interesting thing is that those rates were only out there for a brief time. They’ve come down significantly. I looked at a three year a few days ago and it was 5.1% where it had been 5.9

And they’re coming down, so there was an opportunity there to get the higher rates for a period of time, but that window is closing or has closed at least in the rates and they expect rates to come down. So if you’re locking that rate, you’ve got that rate locked in for a few years. It could and should be part of your overall portfolio unless you’ve got a huge amount of money. Don’t put all of your money into fixed income kinds of things. But the nice thing about that rate of return, as the caller said, it is tax deferred, which simply means that the interest that it earns on it every year will grow until such time as you withdraw it and there’s not a bad deal. It’s

A distinction from the CD that we talked about.

Exactly. Yeah.

Where you’re

Paying those tax track. In fact, I was thinking about your illustration there where you’re talking about putting a hundred thousand or putting $11,000 pre-tax into the 401k or the 4 0 3 B whatever retirement plan might be, or taking that same amount of money and paying the tax and then putting in what’s left into the CD or whatever investment because you didn’t want to put in the retirement plan. What people fail to realize is that to put a dollar into a non-retirement account and a 22% tax bracket, you really have to gross a dollar 28 because you take a dollar 28, take 22% off of it from taxes, and that’s how you end up with the dollar. Whereas you put that same dollar in your retirement plan, it’s a full dollar.


And that’s where that differential is. That’s huge.

Which is why you end up with more disposable income.

Exactly. Exactly. Exactly. Yeah, people,

We don’t always talk about that version

Of it. Yeah. What you want to do is save on a pre-tax basis as opposed to trying to do it outside of the retirement plan. Of course, then people come along, rod, and you’ve heard this too, they say, well, I put the money in the plan, but then I got to pay taxes on it somewhere, so why don’t I just pay the taxes now? Right. I mean, it’s true. You have to pay taxes, but look at what happens when you don’t pay the taxes today and you leave that money in the account and the compounds for you. The worst thing is to have a big pile of money. You have to pay some taxes when you take it out instead of having a small pile of money than I’ve already paid taxes on, so I feel better. I already paid the taxes and it’s

A third of what

You would’ve happened. Exactly, yes. Yeah, that’s being shortsighted. But of course, that’s why our listeners listen to the show to give you those kinds of insights that we deal with day in and day out. We got a workshop coming up real quick. Ronnie, what do we have? We do

On February 7th? That’s a Wednesday from six 30 to 8:00 PM getting long-term care planning. Right. Smart approaches for people at all ages. That’s hosted by Charles Curry and Win Smith. They’re team up for that one.

Yeah, that’s a great one about all the options things you have to consider because when you reach those retirement years, you got to look at what your options are in terms of long-term care and he’ll be covering that. Charles Curry and incidentally, Charles Curry is also taking calls off the air right now at our office. You can reach him if you want a more detailed discussion or more detailed information about his upcoming workshop. Once again, as Rodney says, that’s February the seventh. It’s a Wednesday evening here in our offices at six 30 in Altamont Springs. You can reach him at 4 0 7 8 6 9 9 8 0 0 4 0 7 8 6 9 9800. Take it away, Josh.

That’s a good number to talk to Charles off the air. If you’ve got a personal question, you want to get down to specific numbers with your family’s account. If you want to talk broad questions, you heard something on the air, you heard something in the news, that’s what Joe and Rodney Ownby are doing. Live on the air right now. Eight four four five eight zero nine three two six eight four four five eighty w Dbo Os call in your question, texting your questions, send in your open mic. You are listening to On the Money where We’re planning tomorrow today with the Certified Financial Group.

Welcome back to On the Money Central. Florida’s most listened to financial call and show Bronte You by Certified Financial Group in Altamont Springs. It’s the only show hosted exclusively by certified financial planner professionals. Monday through Friday, their CFPs provide financial planning and investment advice for a fee. But on Saturdays, the advice is absolutely free and has been for more than 30 years. For their WDBO listeners, if you have a financial question you want answered by real fiduciaries, the lines are wide open. Call five 80 WDBO, that’s 8 4 4 5 80 WDBO and enjoy the rest of the show.

Welcome back to On the Money right here on WDBO 1 0 7 3 FM AM five 80, always streaming live inside the WDBO app. My name’s Josh McCarthy, joined today with Certified Financial Planners, Rodney Obi and certified financial planner. Job Bird Planning your finances is the point of this whole show. You got questions about your future, your present, maybe even your past, but we want to focus on that future because of all the education that Joe and Rodney can offer today. That’s what the show offers to the listeners. So pick up the phone right now, dial eight four four five eight zero nine three two six eight four four five eighty WDBO and talk to the team at these certified financial groups. 8 4 4 5 80 WDBO. Let’s waste no time. Let’s go right back to work. We got George who called in from Orlando. Go ahead, George. Here on the air

Morning, George. Hey, George.

Hi. Good morning. How are you?

Good. What’s up?

I got a variable premium annuity that qualifies as an IRA. I started for many, many, many years and it pays four and a half percent minimum per year. Now I’m getting up a year and I decided to help my kids, which are now adults. Okay. And between the both of ’em withdrawing $77,000 from it.

Okay. Let me be sure I understand. You’re taking out $77,000 in a lump sum to give to your kids.

Yeah, going to split it between the two of

Them, two kids. Okay, so that’s 37, 30 $8,500 a piece if you’re going to split it equally. Okay, go ahead.

Yes, sir. Okay. I want to know, is that going to put me in a different, I’m on social security. Okay.


I’m 20,000 a year. Okay. Is that going to put me in a different tax bracket?

Most likely. Most likely. George, let’s see here. You’re single.

Yeah, you fine.

Single? Yeah. Okay. Yeah, it’s going to put you out. You could be pushing the 22% tax bracket here, my friend.


Yeah. So you’re going to take 22% right off the top of that. And then the other thing you want to consider is that you may impact your Medicare, push you up into higher taxes for Medicare, and then your social security is going to be taxed on top of that. So that’s very expensive money. I wouldn’t take it out on a lump sum if you didn’t have to, George.

I already did.


You should have called us beforehand, George. Yeah. So you’ll have an unpleasant tax bill next

Year. Well, what about our Medicare? Tell me about that.

Well, once you exceed the threshold, once your income increases, so does your Medicare premium, and I can tell you what that is here actually in your case below that, yeah, you’re below. You don’t have to worry about it, George, but that’s a general statement that we tell people when they’re making big withdrawals or do Roth conversions. But in your case, your Medicare premium will not go up, but your social security is going to be taxed a little bit more if it’s not taxed now. And you’re going to pay income tax on a portion of that $77,000 withdrawal. And don’t forget, because you gave them more than 17 or $18,000, you got to file a gift tax. You should file a gift tax return. You don’t have to pay taxes, but you should file the return. It’s recorded. Yeah, that’s what a 7 0 9? Yes. Yeah. Form 7 0 9. Yep. Yep. Got it. George.

Well, what are they going to be sending me as far as paperwork to do by taxes?

They’re going to send you a 10 99.

10 99.

Yes, sir. Yes sir.

And you sent some about a gift. What?

Yeah, because you exceeded the threshold for, you didn’t give it just to them, you didn’t give it to their spouses or anything else, right?


Right. Yeah. You gave them, and so you exceeded the limit as to what you can give without filing a gift tax return. That’s 18,000. 18,000 2024 per donating.

Right, right, right,

Right. So you gave them a little bit more. So you’d have to file the gift tax return of form 7 0 6 and you fill it out. You don’t have to pay taxes, but just to keep everything clean, that’s all you have to do.


Yeah, it’d been better. It’d been better if you split that over two years.

Well, I didn’t know that, but they needed, I’ve got a car for my lovely daughter and my son machinery for embroidery.

Oh, did you do that this year?

It all done.

Did you do that this year?


Did you do that this year or last year?

2023? No, just right now. I mean, they haven’t transferred the money yet to Victoria Union, but they’re in the process.

Yeah, George, a little bit of planning would’ve been, you should have done that the end of December and then the first week in January and you’d have done the same thing and probably not paid any taxes.

Yeah, when you love your kids,

I understand. But one week wouldn’t have made a difference, I don’t think. But that’s all right. Next time you know. Next time you know.

Well, they won’t be. No next time.

Well, good for you. Good for your kids. I know you did in your heart what you wanted to do. Alright, George, you take care. Thank you for the call as always. Thanks, George. Yeah,

Thank you so much. If you want to join the show, the number to call is five eight zero nine three two six eight four four five eighty WDBO. Is that number to call to get these certified financial planners on top of your case? We got Sue calling in from Oviedo. Go ahead Sue. You’re on the air.

Good morning, Sue.

Hi Sue. Good morning.

How are

You? Thank you. Good, thank you. Thank you for taking my call. I’m almost 63 working full time. Was planning on waiting to start social security until I retire at 70, but I’m also hearing about taking it now and then if I continue to work, it will bump up at age 70. I’m just wondering how that would impact my taxes and what percent of increase I might be looking at at age 70 if I did it that way. Well,

Here’s what I think you’re counting on is that if you take it out now and continue to work, you’ll still be in the same place that you would’ve been had you waited until age 70 in terms of how much you can withdraw. That’s what I heard you say, that I think you believe, and the answer is no. You’re going to be extremely penalized even though you’re continuing to work. So if you want to maximize your social security benefit, I would wait until you’re 70.

Okay. Alright. And then

If one thing we should point out, Sue, real quick. So if you take it before full retirement age, if you earn over 22,000, I believe you’re going to give back a dollar for every $2 that you earn. There’s a give back. If you start to draw social security and you continue to work before your full retirement age, which for you would be age 67, right?

Yep. Yeah. So that’s an important consideration. There’s a penalty if you start withdrawing before your full retirement age.


As long as you’re enjoying what you’re doing and your health is okay, are you single Sue?


Okay, so you’re looking at whatever you’re able to build up for yourself. Yeah. If I were you, most likely than not, I would continue to work, continue to put into social security because your social security is based on your highest 35 years of earnings and chances are you’re earning more today than you were 35 years ago.


So your benefit’s only going to get bigger and the compounds.

Okay, thank. All right, thank. And you do get

8%, Sue, you get 8% if you wait beyond 67, you get 8% per year for waiting for delaying this age. 70.

Yeah. I’m already getting those estimates so I know what that looks like too. Alright, I appreciate it. Thank you.

You’re welcome, Sue. Thank you for the call. Have a great weekend.

Thank you. Soon. Next in line, we got Anton calling from Kissimmee. If you want to hop on the air with a couple of certified financial planners at the certified financial group, the number to call is five eight zero nine three two six. Talk to the certified financial group right now. Live on the air Anton’s calling in from Kissimmee. Go ahead, Anton. Anton.

What’s up man?

It’s another day in paradise. Hey, you go. My question is this. So I am a veteran. I recently got a hundred percent total and permanent on my percentage. So what that means is that the percentage that I have at a hundred percent will never go down ever where before recently, before I was the one that could fluctuate. So I could go from a hundred percent and the VA looks at it and says, oh, well, we think they’re better. We’re going to drop you down to 90% or 20%, whatever. So it’s fluctuate. So right now it’s not, and I’ve been saving up for my retirement for a while using a 401k, my 401k through Ace County. And so now that I have this TMP and I don’t have a fluctuation of what could potentially increase or decrease my income, I know I now have a fixed income of about X amount. So now that I have that amount coming constantly, how do I calculate my new retirement based off that new income that’s coming in that’s going to be there for a while? Hopefully, as long as government doesn’t ever stop paying VA benefits,

That’ll always be there.

I don’t have it.

That’ll always be there. So don’t worry about that going away.

Okay. So then do I adjust my, because the way I was saving before for my retirement was a very, I wasn’t doing very conservative. I was right battling on there. I wanted to increase as quick as possible and whatever else. So I was putting around, I guess about $600 a month to it because I could, yeah, about 600 a month. So I guess the question is can I drop that down now or should I still continue doing this way and pretend that I don’t have that amount?

The bottom line is you should be putting in the maximum amount that you can put in that plan, which you’re over 50. I presume he’s


No, I’m 38.

Oh, okay. I thought you had 30 years in the service.

Nope. No, no. I was medically retired from the service after eight years

Of, okay, you can shoot for putting $23,000 a year in your retirement plan. If you can do that, you’re going to be in great shape. You’re going to be in better shape than 95% of the people walking around out there

To the how. Mitch,

I’m asking if you want to adjust the application, adjust the risk tolerance as well. Is that what you’re asking, Anton?

Yes, that’s what I’m asking.

Yeah, you’re still young. I mean, you’ve got the advantage of time, even though you have this extra cashflow that’s now guaranteed. I mean, if you look at the formula one 10 minus your age in equities, you’re still looking at a 70 30 allocation of your portfolio and you can stray from that based on your own personal risk tolerance plus or minus 10%. Yeah,

You should be more aggressive at your particular age, but strive for putting in that $23,000 a year into your plan, Anton, if you got that 2300, no, 23,000 a year thousand is the

Amount. 23,000

A year.

A year. Oh,



So I’ll rebudget and see if I can make that happen.

Yeah, if you can make that happen. I’m telling you, man, you’re going to be looking back in 20 years from now. I said, oh my gosh, I’m glad I talked to those guys on the radio on Saturday morning. It’ll be incredible what that money we’ll go through. Now, here’s the deal. No matter what’s going on in that plan, don’t stop putting it in. What most people do is they hear the news, they turn on the news, oh, the market’s going bad, I want to get out, get on the sideline. Don’t do that. Don’t listen to the financial prognosticators because time and time again, they’re wrong and it’ll only screw you up if you believe that the world will continue to grow and people will need to continue to buy all the things that the market’s invest in. You’re going to be in good shape. So just do it and don’t look back. Don’t believe the hype. Got it. You got it, man. Thank you, sir. Okay, Anton, good luck to you. Thank you for your service. Thank you. Take care,

Anton. Thank

You. You can tell I’m working with a couple of radio professionals because as soon as this radio this music started, Joe was saying, just don’t stop believing in the plane. Just don’t stop believing no matter what you do, just keep putting the money in and you’ll be happy. You’ll be better than 95% of the people out there. I appreciate working with a bunch of pros at the certified Financial Group. 8 4 4 5 8 0 9 3 2 6 is the number to call. One more segment coming up. If your question is more specific or if the show comes to an end before you can get on. Charles Curry is standing by off the air at 4 0 7 8 6 9 9 8 0 0. That’s 4 0 7 8 6 9 9800 you are listening to On the Money where We’re planning tomorrow today with a certified financial group.

Welcome back to On the Money right here on WDBO 1 0 7 3 FM AM five 80, always streaming live inside your WDBO app, your chance to pick the brains of some certified financial planners. Today on the show we have Rodney Obe and Joe Bird with the top 100 firm in the country Certified Financial group as named by the CNBC poll, which is always a reliable source for these kind of financial advising questions coming up at the end of the show here. So thank you so much for everybody who partook in the show and if you want to come down to the shop, down to the state of the art workshops that they have down there, that’s one of the options they have too, guys, right?

Yeah, we’ve got a couple coming up, right? Rodney, what up?

We mentioned the one, the long-term care planning earlier, but then the one after, that’s February 7th, then February 24th, that’s a Saturday from 10:00 AM to noon. Gary Ley is hosting Will Your Savings Last A Lifetime?

So it’s an opportunity to do some quick estimates as to how much money you will need at retirement. It’s not a full blown financial plan, but it’ll give you some things that you need to consider all that information about these workshops. They’re absolutely free. By the way, folks, we’ve got one going on this morning and it’s a full house. People will be standing, I think, in the aisles because this is a popular one that Gary does about long term about healthcare, healthcare options in retirement. You are reaching 65 and trying to figure out. But anyway, go to our website, that’s financial, financial You can make your reservations right there online. They’re absolutely free. We can accommodate about 30 people comfortably in our state-of-the-art Learning Center with great audio visual equipment, and I’m sure you’ll walk away with some ideas that will save you perhaps thousands of dollars throughout your lifetime.

So go to our website to make your reservation right and we hope to see you some Wednesday evening coming up February the seventh on long-term care options. And then will your savings last a lifetime? And that’s at the end of February. The date, again, Rodney, February 24th. February 24th. So once again, our website, financial, click on events and everything that you ever wanted to know. Once again, we have Score my funds. We’ve had a lot of folks checking this out recently and maybe because it’s the first of the year. So if you want an objective, look at the funds that you have and your retirement accounts or your brokerage account, go to score my score. My is what you need to do. We will send you a detailed analysis within 48 hours, absolutely free. And if you’d like to follow up with us after that, we’re glad to do that. So that’s score my So that’s all the things we do here for our listeners every Saturday morning. And if you’re listening on Sunday morning, or once again a seven o’clock on Saturday morning, we’re glad that you tune in at least for the replay. But on Saturday morning, we’re here for you live as we have been now for more than 30 years, working and giving our listeners financial information to prevent you from becoming a financial casualty. So Josh has it always. It’s been a pleasure to be with you.

And as always, guys, I love being the middleman between everybody’s questions and your financial experts, a couple of certified financial planners with the Certified Financial Group, answering your questions live on the air. That is what this show is you just listened to on the money where we’re planning tomorrow today with the Certified Financial Group.


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