Top 10 Myths of Retirement (Part 2)

Speaker 1 (00:00):

Welcome everyone to the Retirement Power Hour podcast. My name is Joe Allaria. This is episode 15. As you can see, I'm gonna be joined today by Jay Waters. This is part two of an episode that we're doing on the Myths of Retirement. Jay, good to have you back again. And I wanted to also remind the viewers, if you're watching on YouTube, if you are watching this video, uh, you're not seeing the full episode, if you want to hear the full episode, go to retirement power hour podcast.com, go to Spotify, go to Apple. You can hear the entire episode where we include listener questions as well. But, uh, this is the interview portion. So Jay, thanks again for coming back for part two of this exciting topic.

Speaker 2 (00:41):

Yeah, I'm looking forward to the continued discussion. I think there's a lot of good pits in here for everyone to listen here too. And also just, you know, remind themselves of, you know, all the thing that goes into retirement. And there's a lot of myths out there that people hear buts aren't really true.

Speaker 1 (00:58):

Lot of, a lot of myths, a lot of things that if you don't spend every day in this world like we do, it would be very easy to be led astray and to believe some of these things. So we are here to be the myth busters today and talk through these things further. The for first myth for today for this show is about nursing care, long-term care. And one myth that I've heard is that, oh, that's covered by Medicare, long-term nursing care is covered by Medicare is, isn't it?

Speaker 2 (01:31):

Yeah, no, it, it, it's not covered. <laugh> <laugh>, uh, there's a lot of people that do think that there's, oh, well, you know, Medicare co Medicare covers it and

Speaker 1 (01:42):

Or my supplement

Speaker 2 (01:43):

Or my supplement will cover it. And to a degree it will cover some things. It depends on what led to it, how it happened. And there's certain days that Medicare will cover and, you know, hospital care, and there's certain days that, yeah, Medicare, the Medicare supplement will cover X amount of days for yeah, hospital care. So

Speaker 1 (02:02):

De depending when you, depending how you enter the, the nursing or assisted living facility, if it's, if it's directly from, uh, a medical event, then there's a, there's a chance. Best case, best case Medicare could pay up to 20 days of your hospital stay or of your assisted living stay. And then if you have a supplement, best case, the supplement could pay up to a hundred days of your care. Beyond that, now you're in true long-term care world where you're not getting Medicare, original Medicare, um, Medicare supplements. They're not paying for anything beyond a hundred days. So a lot of people think when I get to retirement, my, my medical costs are gonna be a big cost for me. And I think that's a little bit misguided. And that could be another myth that we, you know, that we could've added in here. But people think I'm gonna pay a lot in medical expenses.

Speaker 1 (03:00):

Well, the truth is, if you're on original Medicare, for example, you pay your part B premium, you've got a supplement. Um, if you've got a more robust supplement, you may have a small deductible each year, and that's about it. Medicare is gonna pay for, you know, as long as it's an approved Medicare expense, then Medicare essentially pays for, for the rest. But where these big expenses come into play, historically could be prescriptions, um, that could, that is changing a bit as we move forward. But another area is this long-term care, these expenses for long-term care and nursing care, which are incredibly expensive, uh, facilities to stay in depending on the level of care that you need. You know, you're talking 5,000, 7,000, 9,000 a month depending on the different levels of care that you may need. That adds up very, very quickly. Yeah. So it's not covered by Medicare. That's a myth. We, uh, we did an episode, episode eight, I believe, where we talked more about Medicare and some of these things. So go back and listen to that. You can get that on Spotify retirement power hour podcast.com, a few different places. The next myth, Jay, kind of back to the investing front for, for this for part two here in this episode, but you can count on historical returns to repeat during your retirement. Yeah,

Speaker 2 (04:27):

Well, one quick thing I was just thinking about, Joe, is, you know, speaking related to Medicare, and we didn't even have this on on our topic of discussion, but just thinking of it as the other myth around Medicare or insurance costs is, oh, I can't retire until I'm 65 because the health insurance cost is just gonna eat me to death. Right. The health insurance cost is, is overwhelming. So I have to either work until 65 or have a spouse work till 65 because the health insurance is just gonna be too much until I go onto Medicare. Yeah. So again, didn't even have it on there, but it just made me start to think. 'cause I know I hear that a lot and I know a lot of people say, you know, I am 63, but I gotta go two more years 'cause of the health insurance.

Speaker 1 (05:11):

A hundred percent.

Speaker 2 (05:12):

That's a good one. And it's, again, it's, that may be the case for some people depending on income, but you know, we've seen time and time again and we help clients with it, is you can get affordable health insurance Yes. With a decent deductible and max out of pocket Yes. To where that can fit into the retirement plan. And you can retire before 65. Correct. So a lot of you don't let that hold you up from retiring just to help

Speaker 1 (05:37):

A lot of pitfalls in that, you know, so you, you gotta gotta know what you're doing. Yeah. Or better yet, contact someone that knows what they're doing that can help you. But there are a lot of pitfalls in that whole pre 65 transition to Medicare. I mean, so many different things. One of the biggest questions is, do I need to enroll in Medicare when you turn 65? So that's a, that's an entire show in itself. Right. We did a show on just general Medicare. We could do an entire show on when do I sign up for Medicare <laugh>. Yeah.

Speaker 2 (06:08):

'cause there's A and B, but yeah, just on a, you know, high level view is Right, right. Again, forward because we're doing myths of retirement. You don't have to be 65 to retire. Yeah. Just to be able to get on Medicare. Good one.

Speaker 1 (06:20):

So now, now we're back to

Speaker 2 (06:22):

Historical returns.

Speaker 1 (06:23):

<laugh>. Now we're, yeah. Now we're into historical returns and you can count on them to repeat historical returns to repeat during retirement. In other words, well, uh, 60 40 average, I'm, I'm gonna throw out a random number, a hypothetical here, but if a 60 40 average 7% over the last 30 years, it's gonna average 7% over the next 30 years. Right?

Speaker 2 (06:44):

Yeah. So never attempt to or assume repeatable returns. Now it does help, you know, we were just talking about it too, was having a diversified portfolio does help that. Mm-Hmm. <affirmative>. But if you look at just the s and p 500, right there, there's been the lost decade, but then there was also the 10 years after that that were very, very good.

Speaker 1 (07:06):

Explain what the lost decade is, if you can.

Speaker 2 (07:09):

Yeah. So s and p 500 from, what was the timeframe? 2000,

Speaker 1 (07:14):

2000 to 2009. Yep.

Speaker 2 (07:16):

Was the s and p was basically flat over those 19 years.

Speaker 1 (07:21):

Cu cumulative at the end of 2009 was actually negative. The returns were negative. Now you could say, well that was because of

Speaker 2 (07:29):

The global

Speaker 1 (07:30):

Financial crisis. Yeah. But it was still negative over a 10 year period of time. Yeah. So yeah, being diversified helps

Speaker 2 (07:39):

Reduce, helps that, that, but again, you would never wanna say, well, the s and p was negative for those nine years, so it's gonna be negative the next Wow. Yeah. You know, 10 years <laugh>. Sure.

Speaker 1 (07:48):

Yeah. And in same way the, the next 10 years after that, that an s and p had an incredible run and you, you wouldn't wanna count on that. I think the mistake here that we're driving at is when you go and do a retirement plan or someone goes on and does a retirement calculator and tries to figure out are they on track, I think the mistake is just looking at historical returns and plugging in that number for,

Speaker 2 (08:15):

And just using that number assume

Speaker 1 (08:17):

There's assume, yeah. You're assumed rate

Speaker 2 (08:19):

Of return. There's a lot times where clients want to see a lower than average rate of return, just so then if we actually do get that number or the market produces that number, we've already accounted for it. Yeah.

Speaker 1 (08:33):

On the projection. Yeah.

Speaker 2 (08:34):

On the,

Speaker 1 (08:35):

On the projection. Yeah. We always wanna see higher than average returns, but on the projection, um, and we sometimes we have to, you know, explain that why we're using lower than average returns on, on the projection because we are trying to project a less than ideal scenario going forward. And we're also measuring the environment. And so interest rates, it's a very interesting conversation yet again on interest rates. But rewind, about a year ago, interest rates and two years ago and three years ago were, they were incredibly low. And so when you looked at bond return expectations with those incredibly low interest rates, the the expectations were ver were low. They were not equal to the bond returns from 1980 to 2020, where, where bonds actually did pretty darn well for being bonds during that time, because the 10 year treasury note in 1982, I think it was, went from about 15%.

Speaker 1 (09:41):

And then over the course of time, down to what, uh, 0.5% in 2020. So when interest rates drop, bond prices go up, bonds do better. Well, okay, now let's look at starting at 2020 where interest rates are at a, at a essentially a bottom. How are bonds gonna do now as rates go up? Now hindsight's always 2020 and, uh, we can look at this now and say, well, geez, bond, we, you know, bonds shouldn't have been in any portfolio as of the end of 2020, but no one could exactly foresee the level of aggression that the Fed was gonna take in 2022 to raise raise rates the way they did. So when rate, when rates go up at slower paces, it doesn't have the same sort of negative effect. But when there's a sharp increase, it causes bond prices to go down. And that's what we've seen this year. What's the silver lining there, Jay? Now interest rates are up, so bonds are paying out higher yields, you know, they're paying out higher levels of income and over time, now that's, that speaks to better longer term returns in those bond investments. But it may take a while Yeah. For those bonds to recover, because they've taken such a hit this year,

Speaker 2 (11:03):

Everyone always says, you know, are higher interest rate's a good thing? And I always say, well, it depends on if you're a borrower or a saver <laugh>. It

Speaker 1 (11:10):

Depends. Yep.

Speaker 2 (11:12):

And

Speaker 1 (11:12):

If you own

Speaker 2 (11:14):

Saver, yeah, yeah. Bonds will yield or should yield a high percent. Yeah.

Speaker 1 (11:20):

Are you a lender or are you a borrower? Yeah. When you own bonds, you're lending money. So higher rates are, are good. Uh, if you're, if you're borrowing money, it does make it a lot more difficult, you know, to go get a mortgage, car payment, whatever it may be. You think differently about it when rates are where they are today. The next one j another a different category going a different direction. Uh, but a but a big myth is I'm only gonna live to 80. I'm only gonna live to 85. Or in other words, I'm not gonna live to 90, I'm not gonna live to 95. I'm definitely not gonna live to a hundred. But what have you seen, what, what do you share with clients on that topic?

Speaker 2 (11:59):

Well, when we, when I show clients or prospective clients, okay, what is the scenarios that we're running or what's our baseline scenario is we always like to run everything to at least age a hundred. And, you know, most people think it can, it can go either way. Is living to a hundred or living for a longer time will either stress your portfolio more depending on withdrawals, or it could be a good thing living a longer time because more you have more time for your money to compound. But for the most part, the longer you live, the more stress it is on your portfolio because there's longer amount of time for withdrawals. So you would never want to be in the exception of, Hey, I have to die at 80 to not run outta money. We'd rather be in a scenario of, well, yes, I family history, I may only live till then, but I'd rather make sure that I'm good until a hundred just in case I do live to 81, 82, 83. Um, 'cause you never want to have to say, I have to die by a certain age to make sure I don't run outta money.

Speaker 1 (13:03):

Yeah, absolutely. It's better to overestimate your life expectancy. And it sounds morbid, but if you, you know, if you die prematurely, not great from a life expectancy standpoint, but financially, you, you didn't run outta money. It's, it's not the worst case scenario. Financially. It might be a bad case scenario, worst case scenario, measuring everything else. But finance financially, everything's upside down. If I don't live a long time, that's actually good for my retirement. If I do live a long time, that's a big drain on my retirement. And so, you know, it's, it's a, it's a bit morbid to think about, but it, it happens I think much more often than people think. And I, I see this happening with parents of our existing clients who may be in their sixties or, you know, in their fifties and their parents are living too. 90, 95, nearing a hundred.

Speaker 1 (14:06):

If you look at the statistics on it, I've got a study here that we found on CBS news and it says the odds are are about 31% that one member of a 65-year-old couple will live to 95 1 out of every 360 5-year-old couples. Someone's gonna live to 95. And that's a risk that is, that is a financial risk that we will kind of talk about. It kind of segues into the next topic a little bit, but it is a risk that needs to be addressed. Now, <laugh>, I don't mean addressing that by cutting your life expectancy short. Um, live a long life, live a great happy life, have a high quality of life, do everything in your power to do that. We strongly believe in that, but it needs to be addressed financially. And I think it's a mistake for people to, to just put their head in the sand and say, ah, I'm never gonna live that long. And, and you're not. And don't plan for it. Like, ah, just Jay, just put me at 80. There's no way I'm living 81. I, I think that would be a mistake to do a plan that way.

Speaker 2 (15:10):

Yep. I agree.

Speaker 1 (15:11):

Well, the next one is sort of on that line and it's, you need an annuity if you are retired or if you're going to retire, you need an annuity. Meaning, you know, you, you hear a lot about annuities out there again on the radio. We talked last episode. If you turn on talk radio on a Saturday or really any day of the week, you're gonna hear a show. You're gonna hear someone talking about how, uh, you shouldn't be in the market. How you can't afford for the market to go down if you're 65, if you're retired. The, the, the market environment is terrible and you can't sustain those losses. So in order to avoid the market, you need to jump into these safe products. You get, you know, they'll say you get the upside of the market, but there's no downside risk. You get life guaranteed lifetime income.

Speaker 1 (16:02):

Some of those things are true. You can get guaranteed lifetime income. But I have a real problem with the way that folks try to sell these on the radio and, and really give the impression that they're these great growth vehicles and they have no downside risk. Well, that doesn't happen. The old adage, if it sounds too good to be true, it, it probably is and that is the case. But as far as income goes, Jay, I think that's what we're talking about. Do you need an annuity that is gonna provide guaranteed lifetime income if you are retired? We know you don't need every kind of annuity. 'cause there's a ton of out there that, that we don't like that have high fees. They're very complex. But do you need even the good kind? Does everyone need a good annuity to provide lifetime income when they're retire?

Speaker 2 (16:49):

No. I mean every scenario is different, but do you need one? No.

Speaker 1 (16:55):

Why wouldn't you, why would someone not need an annuity? This

Speaker 2 (16:58):

Kind of goes back to the, the living expenses. The living style Right. Is again, just as a scenario, let's say you do have 500 grand and you need a small withdrawal rate. Mm-Hmm. <affirmative> to meet your lifestyle expenses. 'cause you already have social security and you have no debts and you just live below your means. Yeah. Then from a what you need as a guaranteed rate of return standpoint, it wouldn't make sense to put all the money in an annuity or need that annuity to make sure that you can meet those lifestyle expenses. You can simply do it through just proper bucketing methods.

Speaker 1 (17:33):

Yeah. Now, instead of saying, why wouldn't someone need an annuity? Why wouldn't someone need more, more guaranteed income? The thing that comes to my mind is 'cause they already have

Speaker 2 (17:46):

Enough,

Speaker 1 (17:47):

More than enough guaranteed income. Yeah. Again, and we, we do see clients all the time that have pensions. Maybe they're military pensions, maybe they're government pensions. Um, teachers have that have great pensions and they already have more than enough guaranteed income coming in. Yep. And portfolios on top of that. So if I need $3,000 a month, or let's just say it's a married couple, I need $6,000 a month, but between all two social security benefits and a pension, I have $7,000 a month coming in. Do I need to take any of my portfolio and go buy an annuity that's gonna generate more guaranteed income? I already have more than I need. Do I need to go get more income? Obviously not that, that would be a situation where the answer is a, is a resounding no. But do some people need an annuity? Well, there's different trains of thought there.

Speaker 1 (18:43):

You can certainly do that. If, let's say you don't have any guaranteed income, let's say you have a million dollars and, and just social security and, and social security is not gonna cut it to meet all of your needs, and you want more guaranteed lifetime income, you certainly could use an annuity. And in some cases it does make sense if you get the right kind that are low cost simple, um, and that you understand all the benefits. But a lot of people choose to not purchase an annuity because, like you said, Jay, they just, they use a portfolio of stocks, bonds, they use that bucking strategy. They buy into that. And they believe that if I just take the risk myself in the market, I'm likely to do better long term. Because annuity companies don't have this magic investment, you know, realm to, to dive into that other people don't have access to.

Speaker 1 (19:39):

I mean, they're for the most part turning around investing in very similar things that, that we can invest in. But here's the difference. They do have the benefit of pooling, pooling their, their investments and pooling their obligations. So if they guarantee Jay to pay you for, for life, you may live a long time, but you may not. And so they're making a return on people that don't live a long time and they're using part of that return to pay for people that do live a long time and they've got actuaries to figure out how all of this works at a large scale, you know, the, the law of large numbers. They, they can see patterns, they can figure this stuff out, but they're taking a little bit of risk. And the, and you are getting that risk off of your table, off of your plate. But sometimes people say, I'm okay taking that risk. I'm gonna, I'm gonna take that risk myself. I don't want to pay someone basically to take the risk for me. I'll take the risk myself. And sometimes I think I would agree with those people that you may be able to do better doing it yourself rather than trying to outsource that risk and pay it an insurance company to take it for you. Yeah.

Speaker 2 (20:48):

There's a, again, every every scenario is different, but like you said, sometimes it, if you don't have any guaranteed income outside social security, then it may make sense to do a little bit. Or again, you may say, you know what, I'm willing to bear the risk. I'm okay watching my money go up and down. Yeah. Going in the long run. I I may come out ahead or should come out ahead. Right. And a lot of it boils down to just what can your emotions handle? Right? Maybe you don't want to have the whole amount on the roller coaster ride. Maybe you do wanna outsource some of it and say, I will bear some of the risk and I'll let the insurance company bear some of the risk. Yeah. Uh, every scenario is different. Everyone's risk tolerance is different. Um, but do you need, does everyone need an annuity? No,

Speaker 1 (21:28):

I guess that's where I have my problem is I, I hear again, the, the radio shows the people out, you know, some quote advisors that are pushing that message. You gotta have an annuity. Everyone that's retired, you gotta have an annuity. You gotta have this type of lifetime guaranteed income. And I'm, I think that we are about balance, we are about using the right tool as you, you referenced that on the previous episode, I believe. But the right tool for the job. And we don't need to use a hammer for everything. Something

Speaker 2 (22:01):

In Yeah. <laugh>. Yeah.

Speaker 1 (22:02):

You're not gonna use the hammer to screw something in, you know, can it get the job done? Maybe, but it's probably not gonna be the best way to do it. Right. Um, there's a better way, there's a more efficient way. And I think balance is so important when we look at all the tools we can use. You can't say annuities are bad. I cannot, I mean, someone could say that, but if they said that, I don't think they're being honest. Just like if someone says stocks and bonds are bad, that that person's not being honest. It's not that all stocks and bonds are bad. Uh, I see videos on social media, Jay all the time, not to derail too much here, but I see these, uh, whether they're on Facebook or Instagram or TikTok or whatever, I, I see videos that people are just, they're, they'll bash 4 0 1 Ks.

Speaker 1 (22:50):

They'll bash the stock market and, and whatever they're bashing. It's always, there's always something tied to that. I'm gonna bash 4 0 1 Ks to push so that I can push something else so that I can get you in my real estate investing program. Right. And you can pay me a large fee to consult or I'm gonna bash the market because I sell indexed universal life policies. And I made up a name for them and I called them a Roth, IUL, you know, which is this, these are real things. I mean, I, I see these things, it just boggles my mind. The stuff that people say that really I don't think is compliance. I don't think that that professionals are allowed to use or say the things, things that are being said. But these people are saying them. People see the videos, they get tons of follows.

Speaker 1 (23:43):

And because you have, I think a lot of regular good advisors who are restricted on what platform they can go on, you know, a lot of advisors, you can't go on TikTok. TikTok ISS not approved and they're restricted in some of the things that, that we can say or talk about because there are rules in our industry. And, and some of these people are just blatantly go outside of that and they, they use these sales tactics and they try to, you know, they tell you something is bad when it's, you can't make a blanket statement about anything. But every tool has its use, its best use and having balance and understanding when to use each tool, I is what we recommend. Okay. Last one here. I've, I've got one more j and it's, retirement planning is all about money. And I threw this one in here just because is it something I hear, I don't hear this outwardly, but I observe it in my interactions with clients. I don't hear them say, retirement planning is all about money, but yet when we sit down to plan for retirement, I observe that the conversations a lot of times stay on money. I know a lot of advisors, their conversations stay on money. They start on money and they end on money. And retirement planning is about much more than that. And I'm sure you would agree with that.

Speaker 2 (25:13):

Yeah, I completely agree. And you see it, I've seen a lot more and more recently where there's not just the financial side of retiring, there's the emotional side of retiring. Yeah. And it's, you know, what am I gonna do once I retire? So there's many of clients that we meet with and have that are financially set where we don't need to talk about money, money, money. It might be right. It starts with money, but then it ends with, okay, what's the lifestyle? Sure, I wanna live in retirement. What is, how do I make that transition from being important, being relevant, going and doing something every day and having meaning in the corporate world or in your own business or whatever it may be, to, yep. Okay, now what do I do every day? And that is the biggest transition in and of its own. Because again, it's now what do I do with my day? <laugh>. Right. And it's so important to have hobbies or, uh, another passion project or whatever it may be. Yeah. Once you do, go to retire,

Speaker 1 (26:18):

Have a plan. Yep. Think about it. And obviously we're gonna talk about money. 'cause I think money, it's, it's that first layer of retirement success, I'll call it. But it's just survival. And you, you have to be able to check that off the box. You have to check that box, check that off your list. Can I survive? Can I pay for my essential needs? And so we have to talk about that. 'cause money is gonna drive that and you should talk about that. But it, I don't think it should stop there. And I think it does a lot of times, and I think only sometimes do people go to the second level of this retirement success pyramid, which might be the survival plus where it's, okay, I can survive and maybe I can take a trip a year. Maybe we can do a few things, you know, enjoy some of our hobbies and, and, and then we're good.

Speaker 1 (27:10):

You know, we we're content. But there's a third, I think there's a third level of retirement success, and that is retirement fulfillment. You know, if it's, it's like the, the top of, I can't remember the, what, what pyramid it was, but it's that self-actualization. But I, I say the retirement success pyramid, the top is, is true fulfillment in retirement. That's when you, you've gotten over the survival hump. You've been able to do some of the hobbies that you like. You know, you do those things that you enjoy yourself, but you think even further outside of the box. And you plan for what is going to provide me the most fulfillment while I'm retired. And you take actionable steps toward that. Maybe it's gifting to your children. Maybe it's, uh, charitable donations, maybe it's volunteering. Things that you do that if you lay your head down at the end of the day and you spend all day doing those things, you say to yourself, man, what a great day.

Speaker 1 (28:15):

What a great day that I just had. Because if you do that every day in retirement, you're gonna lay your head down at the end of retirement and say, what a great retirement, what a great way that I just spent the last 30 years. And on the flip side, if you don't do it, you lay your head down at the end of retirement and say, gosh, I I wish I would've done this. I wish I would've done that. And, uh, none of us are guaranteed any amount of time. And so best to not only plan for the financial part, but for that lifestyle part too. Fun conversations we get to have too with folks that buy into that and, you know, we get to help them along that journey. Well, this, this was fun, Jay, talking about some myths being myth busters always good. We, and I, I know I speak for you as well too, but I'm, I'm super passionate about getting people on the right track and, and educating them and clearing up misinformation and that that something, that's something I enjoy.

Speaker 2 (29:16):

Given that clarity, that soundboard and just that guiding light that, 'cause there's so many, like you said, disinformation out there, just bad information out there. Yep. That is intended to scare you, intended to make you doubt, make you question Yes. When you know that's completely unnecessary.

Speaker 1 (29:37):

The, whether it's the media Yeah. Other quote, financial professionals, your neighbor, your family member who's, you know, spouting whatever they heard from those sources. There's a lot of, a lot of, uh, opportunities to fear to have excess stress. So, you know, a good time to mention too, if you've listened to some of what we've talked about and you've wondered about your own situation and you, and you're wondering, are you on track or have you been getting the best advice? I would encourage you, you can get a, a free retirement analysis by going to retirement power hour podcast.com. Click work with me, fill out the information to schedule a 30 minute phone call. And the first step is gonna be me talking to you, asking you a few questions, gathering some information, information, getting a sense of where you are and explaining to you the process that we can take to get you that retirement assessment.

Speaker 1 (30:30):

And I already mentioned it, it is something that we do. It is complimentary, it's free. So go to retirement power hour podcast.com and click that work with me tab to start the process to get your free retirement analysis. No reason to wait, do it now. And, uh, we look forward to helping everyone that does, to clear up some of the myths maybe that you've heard as well. And Jay, on that topic of misinformation, you may recall, I'm sure you do, you were on the inaugural episode Oh yeah. Of the Retirement Power Hour podcast, where we do this every single year. I've, I've done this in webinar format in the past, but at the beginning of every year we look back at what happened during the year and we compare that to the predictions that the so-called Financial Experts made about that year at, at the beginning of the year.

Speaker 1 (31:22):

So I'm very excited to do that in a couple of months and hopefully it can have you back on the show to join me and, and talk about that and, and kind of beat up on these people that continue to spread misinformation, um, because someone's gotta do it and someone's gotta put out the right information. So hopefully you can come back for that. Oh, absolutely. <laugh> <laugh>. Awesome. Well, thank you all for listening. Again, go to retirement power hour podcast.com for all of our past episodes. You can also submit a listener question on there. We'll read it on the show. If you want the full episode of this podcast, you have to go to Spotify, apple, or you can go to the website retirement power hour podcast.com. This is just the, uh, interview portion if you are watching this video. Thank you for listening. Thank you for watching. With that, again, I'm Joe Allaria. This is the Retirement Power Hour where we help people invest wiser and retire better. Take care.

Speaker 3 (32:17):

Thank you for listening to the Retirement Power Hour podcast. All material discussed on this podcast is for educational purposes only and should not be construed as individual tax, legal or investment advice. Investing involves risk of loss and investors should be prepared to bear potential losses. Past performance may not be indicative of future results. Joe Allaria is an investment advisor representative of Carson Allaria Wealth Management, a registered investment advisory firm. Information discussed on this podcast may be derived from third parties that are believed to be reliable, but CAR a wealth management does not control or guarantee the accuracy or timeliness of such information and disclaims all liability for damages resulting from such sources. Any references to third parties are provided as a convenience and do not constitute an endorsement.