Of the staff and management. Of Entercom communications or WORD radio. Saturday morning to you instantly -- up. After Tony dealing with my best friend and partner Philip Allen and this is common sense retirement planning where we. We talk about things that you probably not gonna be hearing much on the mainstream press all of today something we've been talking about was on the mainstream press will tell you that betterment. But we talk about retirement planning as opposed to just plain ol' Vanilla investing. And so for the next hour that's where we are and we're gonna talk to you if you'd like to join us it's very simple you can call us at 2329673. In Greenville. And 574963. In Spartanburg. We'll do our best -- answer your questions the answers will be somewhat general in nature because Philip and I are both securities licensed. We were to capital investment group it would member of ignorance at that until we we always try to give. The good investment advice we are capable of on the radio but keep in mind we also it's important to know people specifics. And now I -- to get really specific in your situation is this why we offer free consultation so we can do it. Nonetheless love to hear from you. And of course Phil but I always do what we do with biblical stewardship and mine and therefore always start the program with the -- from the Bible. The other day I woke up and looked at the news it was a Sunday morning and it was the hundredth anniversary of the Titanic. And one of the memorabilia that they were selling was an unused ticket on the Titanic. For 70000 dollars -- -- had not used it and so it was 1% thousand dollars now as thanking. You know that's really what the devils during the day -- the -- selling. And -- -- tickets for the Titanic the Bible tells that this world is going away but Jesus is giving away tickets for the life and John. First John to fifteen through seventeen assists and. Love the world -- not love the world of the things in the world if anyone loves the world the love of the father is not in hand. For all that is in the world the last of the Flexilis of the guys in the prime of life is not the father but -- of the world in the world is passing away in the last it. They -- who does the will of -- of -- forever. Mean we're great verse. -- -- has to do with chipping action going on a lot I I am heading more and more people come into the office. Who are who lost money in the dot com crash lost money in the last real estate credit collapse. And now all of a sudden panic in because they're not gonna have enough money to live on retirement and so they're taking unnecessary risk. They're big hurry to get rich quick. So proverbs 282022. Says this. The trustworthy person will get a rich reward that a person who wants quick riches will get into trouble. Greedy people try to get rich quick. But don't realize they're headed for poverty. I want you to understand that markets go through cycles. You either have bull market surveyor markets it is greed the creates these bear market or bull markets rather. Such is the dotcom bubble and the real estate mobile and the credit mobile and so forth. Historically happens time and time again and later today I wanna read a little bit from an article about. How our brain works and why we take -- is not just as individuals but his nation's. But before I do I wonder if there's something that that I'm gonna share with you that if it disturb me a little bit and and I want them kind of discuss this. I got an email yesterday or day before yesterday. I've been listening to your radio program very good at several mutual counts of -- accounts very concerned about the future. What do you think about a raft account for -- that. Me and my wife for sixty years old to do that plan quit working for awhile -- -- -- back and -- a raft account. Mom may be -- Rother possibly wrap account. Through right index is not -- -- I heard on radio program they -- on your station talking about a raft account well. So I'm what did he send a link to this place. And there's this program here where they're talking about a life raft account. Retirement account free of tax. And a pension personal pension plan with principal protection the triple -- account. Asset accumulation access approach. Another way to say stretch okay so. I mentioned -- in the beginning of the show both felt and I are securities licensed. What they're doing here is making up names for something that is an insurance to two different types -- insurance products this. Quote life raft account. Is nothing but an indexed universal life insurance policy. And the personal. PP PP -- as a personal pension plan to print -- -- isn't indexed annuity. Now don't misunderstand me. There's nothing wrong with indexed universal life. Or indexed annuities if they're the right ones and if they or appropriate for the person involved. You have to look at a person's entire financial situation and we use those sometimes but we also use other. Financial instruments mutual funds and you know where we put together -- appropriate for the individual. We don't have to make names for the in order for -- did tricked people into and a coming in talking to -- -- mean if we're gonna talk some out of mutual fund we don't call -- a double dividend presidential plan are regularly. You know we. We're not we don't make you know you won't you understand what you're doing. And if you get involved with people who are just having to make new kinds of you know -- you know -- -- account was we thought he spelled Roth wrong. But. Those kind of things you sort of red flag that. When you can even you know speak specifically about the current names of that particular financial product. Out. That's disingenuous it's it's it's it's obvious nation -- you and ask yourself do you wanna get involved with it with somebody -- that is openly. Sort of obvious skating what they're actually offering you and here's the last thing. We couldn't even if we wanted to do that at on this program. Because we are securities license which means we have to adhere to compliance through -- or regulations. But an insurance salesman who -- just to selling insurance products can get away with saying all kinds of things. And I'm not slamming insurance salesman but I'm telling you this. If you're thinking about investment in retirement plan and -- you want somebody that understands. Investment and retirement planning is just out to sell you some sort of insurance product. Possess what they do. And you know and I'm Tony just say this but in another way you have to understand if someone's out there in all he can sell you as an insurance products. -- then all you're gonna get is in charge -- They're great insurance products for retirement that have to be looked dead but you also need to be able to look at other products and mutual funds and that kind of thing. So yet to be very careful who you're dealing with as far as and then especially if they can't even say what they're doing you know without making up the new name. Yeah itself just due to remind you if you happen here this program later today. Mum. When they're talking about a -- to count toward personal pension protection. Whatever it is at that but the fact that the they are talking about indexed universal life insurance policies and indexed annuities. You have been more -- her. We're going to take a quick break -- One of the things that. The -- have been warned and it's just a phrase and investing news. Sell in May and go away and we come back don't talk to the bit about some of the reasons you not wanna take that'd -- at least consider. Right and also coming up we are going to talk about. The new push by government to take over your 41 case stick around more comments and retirement -- coming up I do however want to. Start by telling you something. That Phillip I you've been doing and we're real pleased with it which is. Search engine optimization of what they -- is search engine optimization sounds pretty impressive than it it is impressive in what it'll do. But it's it's very simple in concept. Most of you if you're in business -- -- website. And you wanna use the web site for marketing of some kind. And you're hoping it was somebody Google's searching for whatever it is you do your name pops up first. But let me tell you there's an art to making that happen. And you gotta have somebody who understands how to do it and I am not only have to look at how to design your web sites which most eye catching and pleasing. That's where Philip and I work with a group called creative society dot net. That is what they do design. Web -- till the console people on how to best put those together and then make sure that your website seems. And that gets up there in the search engine so. Write this down if you have a big business and go check out the website get a hold of them have a chance. Creating society. Dot net. Cloudy can't work rest of -- Saturday in the upstate a pleasant evening and stories we'll drop in the seventies and low sixties by late tonight under partly cloudy skies. -- enforced Sunday few clouds around it hot. Highs reaching the operating differently today with a 20% chance of showers thunderstorms we'll hear that phone rings and -- -- Monday as well we'll -- a little bit cooler reprisals reached. The upper seventies. From the fox Carolina weather center in chief meteorologist -- -- on me. Looking for a way to get some excitement back into your life why not enjoy a weekend of the -- real thrills at harrah's Lake Tahoe or maybe you prefer relaxing spa retreat at harrah's resort in Atlantic City or the ultimate high roller -- to Las Vegas. We decided it should get service and four night stay at Caesars palace for you and three friends. These and over 100 more grand prizes games are all up for grabs in the new. Who escaped a total rewards came at harrah's Cherokee with -- over 90000 prizes this is our biggest giveaway ever. Visit harrah's Cherokee have plenty. The total rewards came to win great prizes and experience all the nearly forty resorts. And why I'd have to offer my birthday today and -- Cherokee casino and hotel. Live from which begins march 1 has been for schools -- -- -- -- stuff comes closest to between there's an age old and Pacific college but -- 1015. 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I'll save thousands on -- greatest election trailer and fifth -- over thirty years drive over to Heidi but it's 63 or visit online at Sony's RB dot com. And -- a lot of nearly 200 RVs and every single one is marked down for our celebration. -- -- travel trailer fully -- from -- nine Hamas to Moscow strongly 69 when our financing we can surely that one in here but it also this week everything are part stores on sale and always excellent service saudis given travel from memory not promised tomorrow let's make those memories today. Do you fear of losing your money -- you call silicon -- and an 8676768. For a complimentary consultation. Welcome back to concentrate time planning this is -- balance of my good friend Tony dale Tony's a midget. Not a magician near musician I played well. -- all right. I heard that as far as a musician I heard that an eight year old boy says to his dad. When I grow up I want to be a musician the -- reply sorry son you can't have it both ways. And heavily. We were talking about selling in May and going away. One of the things we have to watch out this thing with Europe they try to kick the can down the road and it just. -- not going very far down the road. It's Spain will be you know in the news a lot in the coming weeks -- jobless crisis deepens. There unemployment -- rate rises to 24%. 125 year -- in -- -- the unemployment rate is over 52%. And if you can imagine 52% of the young people unemployed that doesn't do well for government stability special in Spain as it did his previous. It's a Spanish officials moved to shore up confidence in the ailing local economy is new data showed unemployment and eighteen year high. A day after credit ratings firm standard Porsche slips Spanish government. Debt with a two notch downgrade. The figures are terrible for everyone in terrible for the government foreign minister. Somebody say it in a radio interview Spain has man and he is in a crisis of huge proportions. And the end talking about that downgrade which is gonna affect the stock market says standard imports medal. Middle tardy in downgrading Spain's credit rating but the move is still important it raises more questions Europe's debate about the growth verses austerity in May have. Knock on effects. That worsened the situation S and -- motives including expectations and had negative growth. And an above target budget deficit this year aren't surprising but the cut or reinforce concerns about Spain's banks. And blah blah as we go on it's gonna affect the US stock. Mark I'm sure it there's a fabulous piece and I it's so long America can't -- we -- all Cuba I urge you. To read this piece find markets on MarketWatch it's by Paul Farrell now let me remind you Paul Farrell is one of these guys. That he's consistently predicted stuff well in advance. So when this when it's the content the title of this and it was April 24 day is today. Dreaded IPO crash signals flashes bear warnings replay of nineties IPO menial chose a new book actually says. Here. I wrote back in 2002. In March -- crash sorry you'll never hear it coming. Breezy predicted the tech stock correction then he wrote a column back and I'll wait. Actually it was a big it was before -- -- haven't been talking about the way. So here we are again ignoring the risks for years into an aging -- past its prime weak economy. With macro economic danger signals flashing across the globe and still Wall Street to back pushing the risk envelope to the limits again. Yes we are all trapped in an 800 year old cycle. USA today isn't warming crowd of this IPO news since 2000. Phenomenon. We can bet. Wall Street's salivating. Accelerating plans to drive the next -- IP arm of the market -- before the next crash. But watch out. This may be great news for IPO investors in protecting -- and private equity and hedge funds but for the average 95 million mainstream investors. It is danger. Because history keeps repeating and we learn nothing. Investors have a bizarre incurable handicap. We're good news junkies we hate bad news heard chasing hot tips easily manipulated never learning history's lessons in denial blinders on. We cannot see because our brains were infected with these. 800 year old. Disease. Then there's no real antidote for no shot to protect us from the perpetual repeat of these cycles. Because what happened in 2002008. Is destined to repeat again and again and again. So Wall Street banks keep taking advantage of customers investors shareholders and the public adding new fees higher commission siphoning off of the -- are returned mine -- politicians and lobbyists. And they'll do it -- the next crash. In the in the raid the treasury again in more taxpayer bailout is congress for warts too incompetent to fail banks with trillions once more. But there is a book. Called this time it's different eight centuries of financial -- by economists Carmen Reinhart and Kenneth rolled off. And -- let me just this is aside I mention this book to you on this radio program I don't even know how many times and he mentioned that other book that I mentioned. The -- of money by Niall Ferguson's both of these the best empirical investigation of financial crises ever published why. Because they exposed the dark side of the neuroscience of behavioral economics. Behavioral finance and investment psychology in the new behavioral science of irrationality. So this time it's different shows us why it is not. It is never different no matter how different the latest financial frontier crisis always appears to be. There usual remarkable similarities from the past. No nation is immune nobody ever learn from history's. Lessons no country irrespective of global importance appears to be immunities. We kid ourselves this time we're smarter better but we never are. It is rooted in the firmly held belief that financial crises are things that happened to other people other countries at other times. Crises cannot happen to us here now. We are doing things better or worst market we've learned from past mistakes. But we never do. We delude ourselves into thinking we know what is best until. -- to me. And such self delusional stories guarantee this cycle will repeat again ad infinitum ad infinitum. More is never enough so we push the limits we just can't stop creating bubbles. The lesson of history the end is that even as institution and policy makers improve. There will always be temptation to stretch the limits and just as an individual could go bankrupt no matter how rich they start out. A financial system can collapse under the pressure of -- politics and profits no matter how well regulated it seems to be. As the book says they -- years of financial finally. The ability of governments and investors to delude themselves giving rise to periodic bouts of euphoria usually in -- seems to have remained. A constant. Nations become drunk on -- feeding an insatiable lifestyle demands if there's one common theme to this vast range of crises it is. That excessive debt accumulation whether it be by government banks corporations and consumers. Poses greater systemic risk than it seems to -- booms. And finally he ends by saying the truth. Is you. Are vulnerable. Bull bear cycles are inevitable. Knowing what is ahead aware of your limits you can better plan a winning strategy and avoid losing your retirement next -- brilliant stuff. Right now where -- thief. Probably the apex of a cyclical bull market inside of a secular bear market. And -- Bear markets and bull markets don't improve with age. I think and at the this thing looks like -- soon we may have I believe you know a correction and it could be a correction to the tomb of the socket 2008 correction. Across talking about Spain. These things affect us -- just real quick said the United Kingdom England's pension liabilities reach five times gross domestic product. The UK state and private pensions obligations rate seven point one trillion pounds. And almost five times the country's gross domestic product within here in the United States. The headline that the headline that greeted me was US trust fund. Interest income being -- exceed one trillion dollars a year but one H one. You know we're headed there on the same road of we have unfunded liabilities. It goes from Europe to the United States and -- it trickles on down to the states. We're looking here that Chicago gets negative outlook from Moody's on -- gaps. Com in the Wall Street Journal today. Retirement benefits may -- the states it was -- -- Chicago mayor's Rahm Emanuel offered a stark assessment of the threat to the State's future. And -- will go a little bit more detail about that after the break but it also funnels the South Carolina. This is out of the Greenville news the Teri program is likely -- at what started out as an incentive persuade quality teachers. To stay in the classroom has ballooned into a symbol of government waste and greed. And this. They're trying to kill this program in South Carolina. How much of which fourteen billion dollars underfunded for South Carolina is that right yes -- the by now with the state retirement system deficit at fourteen invasion and climbing the lawmakers are rallying in the program. -- here's the thing a lot of people have the engines and they think their -- -- handed pinch of what the pension doesn't pay what if something happens to the pension. If you need to create your own pension essentially is the answer. Out will we come back we're gonna talk about another. Retirement planning -- 401K and how your government has big plans for your 41 case and you don't -- miss that. I'm Tony -- with Philip Allen if you're just joining us this is common since retirement planning. We -- with more of this I after the. News radio double -- all Argentine. WY a RDF -- -- -- they'll support WYR decrypt W ordinance. Audience warm for the rest of our Saturday in the upstate a pleasant evening in store drop into the seventies and low sixty's finally tonight under partly cloudy skies. -- Sunday few clouds around it hot highs reaching the operating differently today with a 20% chance of showers thunderstorms. We'll hear that phone rings at the end of Monday's well we'll be a little bit cooler highs will reach the upper seventies. But the fox Carolina weather center and chief meteorologist -- hands on me. 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You know being born and raised in Greeneville have a desire to see the serious succeed in my job is to make sure that local business owners are getting their fair share. -- radio is not right for everybody and I really don't know to be the right fit for you. But if you're frustrated by trying to reach consumers on the go. Or just confused as to how every single sales -- just so happens to call you as the best solution for your problem. And I'd like to hear from. My job isn't radios but my career is helping businesses succeed. Summertime is almost here in research suggests that there will be less people traveling this year which means more money will be spent right here in the upstate this summer. Are you ready for that business don't miss out on getting your piece of that money. Let me show you some ways and I've helped other local businesses reach their goals 24114. To four. 2414224. My name is Zach brown. I wanna be resource for you. Coin collecting his more than a fascinating in -- coin and bullion -- the coin experts with a huge selection of rare coins and stuff. And they find calling elections maybe you have a collection and just won't know what it's worth Allen Travis will tell you it's on this market. And upstate going to billion dollars gold platinum and silver even rare collectible pocket and she lives. Come see us at 215 west wade Hampton boulevard and rear -- -- Eight -- 5060 years. Do you fear of losing your money worries you call Phillips and -- and 8676768. For a complimentary consultation. Your back with common sense retirement planning this is Philip Allen with. Tony dale. In an article today about how retirement benefits may sink the states. I was just so encouraged yesterday to see that first Boeing dreamliner. Come out of the factory in Charleston that was a win for. Right to work states and these companies that come to South Carolina one of the reasons they're coming to South Carolina even though we have our problems. They're not the same as the problems and other states going back to Chicago -- mayor Rahm Emanuel recently offered a stark assessment of the threat to the State's future that is posed by -- pension and retiree health care bills for government workers. Unless Illinois -- reform quickly he said the cost of these programs were forced forced taxes so high. That you won't recruited business and you won't recruit a family to live here. He goes on down is say is that to give it contrast. Indiana next door to Illinois. For unfunded retiree health care benefits for example is 81 dollars per person that's how the unfunded mandate in Indiana. He crossed the border and the unfunded mandate is 3399. Per person and Illinois -- of so. You think of businesses on to come to Illinois knowing that they're gonna have to raise that business tax that good Indiana. California is another place for businesses tend to view three years of budget uncertainty in huge pension liabilities. California's over 500 billion. Massachusetts. In some of their minutes I'm in this above pac man this a -- these the -- it averaged thirteen thousand per household. To pay for unfunded pension in the bottom line is. They're either gonna have to raise taxes so it is unbearable to live there or not pay the pensions here in South Carolina hopefully we're gonna work on this first. But he says the Teri program. Which started out as an incentive virtually quality teachers to stay in the classroom has ballooned into a symbol of government waste in grief since its inception in 2000 the Teri program has been a target. And at least a dozen bills to kill it in one lawsuit that went all the way to the states Supreme Court. But now with the state -- retirement system's budget deficit of fourteen -- climbing. Lawmakers are rallying to in the program. A -- has already passed the house that would eliminate -- for new hires. And four of the six senators on the subcommittee crafting retirement legislation to Democrats into Republicans say they want to close the Teri program altogether. In retrospect I think we made a little bit of a mistake when lawmakers approved hairy. Said senator Phil. -- -- Democrat of -- a member of the state retirement subcommittee. They -- program stands for teacher an employee retention incentive. And a lot of people are looking forward to that for their retirement counting on that for their retirement. And that's one thing that just may not be there for you so you have to be careful about relying on other people too much take your view on retirement nobody loves you like -- -- -- -- Today and -- -- in use Mac money report. A new survey by Merrill shows that 57%. Of working. Mass affluent. Americans. Expect to retire later than they had planned to just a year ago that a C 36% increase from January 2011. By economy is. Showing problems the outlook among the mass affluent. He's not positive this group is pushing back their retirement in greater numbers and we have seen before and -- listen closely to this paragraph. Is this is what -- I see every day. The rising cost of healthcare worries 89%. Of the survey respondents. While ensuring retirement assets last throughout their lifetime. Is a major concern for 83%. 80% worry about being able to afford the lifestyle they want and retirement -- that sentence than we re read that sentence. Eighty. 9% or worried. About ensuring. Retirement assets last through their lifetime. As a major concern well that is exactly. What Philip and I do. We -- and our number one goal when you come and see yes. Is to make sure that no matter what happens to the economy or dietary plan or whatever else. Big you can be insurers. Of not running out of money and there are ways to do that. And that is part of part of what we do our two -- two major goals right -- make sure people don't take major hits in the market in the market and these big. Swan songs and people don't run out of money before they run out of breath. And make sure that money keeps up with inflation needs. Out of market watch Robert Powell which is market watchers -- retirement guru he says prepare for higher taxes and lower Social Security. It was just interesting that the trustees of social security and Medicare this week announced that both programs. Both programs trust funds. Will face exhaustion earlier than expected with Social Security projected to become insolvent but twenty 33 in Medicare about 20/20 four best three years earlier than they predicted last year so every year they their their moving yet at three years so if they crucial at that rate was aiming Enron mountain. Five years now prediction that -- the predictions like in dog years that he has been Africa. When they say and -- say one year they may seventh I think and he wrote and also wrote an article a Social Security is plan hey it's time for plan B I'm not -- any talks an article he's not necessarily talking about if you're already retired. But if you're -- year below. You've got. You need to worry. Because politicians will not. Change the Social Security benefits for existing retirees because they can still vote. And they're the baby boomers and so what's gonna happen is this is going to be one day it's gonna he had and it's gonna hit hard so you need to start looking at your own pension for retirement. And let me tell you where they're gonna go to look for this money. There was a fascinating piece this morning while we were doing -- show -- on Fox Business. The television network. About something Phillip and I have been warning you about 444. Years now. The government is looking hard at 401K. Plans and finally it's making it into the wider mainstream press in the larger way. It was in the Wall Street Journal last Saturday and now Fox Business had a big piece on at this morning. And essentially what the government is looking at doing is a number of things what's been discussed is ending deductibility. And saying that what since people don't understand how to invest and they've lost money in their 41 case these last two market downturns. Obviously we've got to find something safer for people -- put him at a new type of government bond. And faith -- me whatever the liberal interest rate -- which of course to be looking at treasury you're looking get 2% right now. So think about this government's going to force you and that's part of these are good at what they wanted to force every worker to be in a 401K which you won't be able to write it off. And you won't be able to invest in the market know you'll have a a government. Bond that -- gonna be invested -- and then when you go to retire you'll take it is an annuity payment. A pension. Which will never grow Ulanova -- it. Friends if you are 59. And a half years old and working. In you have a 401K plan most. Companies will let you take the money and move it to an IRA while you're still working and you can continue to contribute an every year move that money. In do your own self directed irony. But this -- We can help you set it up so it will be a safe place a safe haven where you can have. Incoming not to worry about losing money but do something about -- don't sit and wait for the government -- take these things over. Last week we talked about the Wall Street earned. Wall Street Journal article that congress passed 401 k's again Scott of interest in their looking for ways they the way they could it is we want to. Boost savings. But you have to understand that they want a boost savings by use saving with government bonds. So that means we need more people to -- you know back -- government bonds which you know is the month. Government loaning money. And then they can spend it on current projects. However we are even doing that isn't that what the thing has been doing with that with putting -- money and can't hit in the bail out and buying our own debt. How many times have you been -- if there's a problem we need to deal with and immediately you need to. You know get it out in the open. But if you -- adults included off one -- is gonna blow the doors off your family or your business this kind of thing. Well -- congress. Because of their. Love for their position. Will not stand. And take you know they're afraid if they stand that they won't get reelected. You know man what we could use the George Washington or. You know that's already -- statesmen -- around again that would just. Know that. Do right instead of do whatever politically expedient. Where trouble. It it -- book I mentioned earlier -- -- this time it's different 800 years of financial folly. That is essentially what the book documentaries for 800 years governments in nation's. Historically. Has done the same thing keep eventually start running at the bit run that the dad and eventually. It kills. And -- think that we are immune is absurd and let me give you the best. Current example I can think of which is great Brit well I guess you could call -- Great Britain anymore. But it was once Great Britain. Britannia rules the waves at the turn of the -- won't be getting -- twentieth century they were hit pound sterling was the reserve currency and and and they were deemed most powerful economy they'd had a powerful military and all. But then they. Started going down the road Fabian socialism and social spending and debt and borrowing and borrowing -- It is now passed within the last two months did they have fallen from first to the ninth. Largest economy in the world overtaken by Brazil. Can't happen here and I'm not so sure. Let me tell you something I -- that I really believe either one of the things are written this story. I did one of the biggest fears people have is. Paying for healthcare in their engineers. Well you know you prevention an ounce of prevention is worth found a cure the old cliche but it's actually true. If you start taking care of yourself physically. Eating right and very importantly. Exercising. You can stave off degenerative disease you can add quality. To -- years are gonna get old became change at. But would you rather be a physical in -- -- 65 and physically 45. -- would you rather be 65 and physically be eighties. But believe me you can do something about it but you have to do they know what's gonna do it for you but you have to do it alone. You can go to brits Brothers Jim this what I do which for the gym on Woodruff road you have guys and gals that will help you work with you one on one. With weights and machines. You can learn how to defend yourself they've got. Mixed martial arts and got boxing they've got all kind of cool stuff going on -- combat training they've got the boot camps listen. Take control your health. Go to -- Brothers Jim dot com and check them out. How do you work rest of our Saturday in the upstate a pleasant evening and -- drop into the seventies and as low sixty's finally tonight under partly cloudy skies. -- enforced Sunday few clouds around it hot highs reaching the operating differently today with a 20% chance of showers thunderstorms. We'll hear the phone rings and of Monday's well we'll -- a little bit cooler highs will reach the upper seventies. From the fox Carolina weather center in chief meteorologist -- -- on. Jeered at too -- behind. Have we got a weed killer for you ortho ground cleaner guaranteed to lay waste -- the weeds on your patio driveways and sidewalks like nothing you've ever experienced. We know you'll love -- storyteller. 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It's -- tiny -- 44 HD radio car receiver than just up from Wal-Mart for a 120 bucks sixty radio what's that each -- local HD two HD three FM stations but you need -- HD radio receiver so I just need to buy an HD radio receiver -- just isn't HD radio dot com for all the -- then go to Wal-Mart to -- -- -- -- -- -- 44 HD radio -- only 120. But it's okay it's the radio dot com then to Wal-Mart. HD radio more radio more value. Do you fear of losing your money where did you call Phillips and Tony and 8676768. For a complimentary consultation. Welcome back to concentrate charm of planning with Philip Allen and Tony dale. The six year old goes to the hospital with her grandmother to visit her sick grandpa. When they're they're she runs ahead of her grandma on burst into her Grandpa's room grandpa grandpa she says excitedly as soon as grandma comes in the room make a noise like a fraud. Lot faster grandpa I can always like a fraud because grandmas say -- as soon as you -- were all going to Disney World. -- -- that's madness but you know reading this about Social Security nothing about the time I'm eighty years old. I think the governments don't want all of us eight year old to croak so they can continue that politicians can continue to go to Disney World. At a Bloomberg assists freeing boomers from Social Security. Cuts blows up math you know we're always telling us that they're not gonna -- anything from existing or people that are already they're getting close to retirement. But the fact of the matter is if they don't there's going to be a point where the whole deal blows up. So as young people might be the biggest casualties of the US congress unwillingness to fix Social Security. And since retiring baby boomers swell and the programs roles with 101000 a day turning 65. According to the Pew Research Center. And back 2035 they'll be only be two workers to pay taxes. To finance benefits for every retiree -- a see saw one side is up the other side is that nobody wants to do the actual things you have to do. So you don't screw your kids on this stuff. Now one thing that's interesting is you hear a lot of times about that morning to fix Medicare. Well this is part of the reason for law makers in action. Even as the debate. Overhauling Medicare is there's politically more difficult to cut social security and this is interest and that's the golf with Medicare there's a middleman. The government pays doctors and hospitals and others to care for seniors if congress -- -- to the M seniors may not notice. By contrast with Social Security there's just the government and a check in it's harder for a minute features not to notice the cuts. With Social Security every one is very clear on exactly what they're getting with Medicare is much more abstract. And something we're -- to that FMI -- I've mentioned this when I was filling in for Bob McLean here last week. There's -- provision in obamacare that ought to have it every body who is going to grow old eventually we cheese course everybody. Scared and there. Because there is a provision. Four panels they don't call them death panels they have an acronym for them but essentially these are going to be people who are appointed the why the president not congress no oversight from congress and they will determine who gets what kind of health care. And if they decided. Well I'm sorry you know if you -- you're eighty years old and we don't feel like we could invest all this money in his heart transplant when you can go to spend it on somebody in his forties more productive. Don't think for a moment this can't happen it can't. And if we don't step up to the plate here and in knocking out of the park in this election in and get rid of these socialists marxists. My children. Used economy and ask for money. And they wanted their money right thing in and they couldn't care less if we had groceries the next week or the next month -- they wanted their money right thing. We'll and that in that moment I had to be the adult. -- no you can't have it. And they looked at me like -- on everything it but what we need to ask your politician is somebody's gonna have to stand up and be an adult. And say we've got a problem we're gonna have to address it. And you know I think of -- politician that's still better about getting elected -- never getting elected again because I told the truth. Then getting reelected every year. Lying to my constituents about the real problems that are facing us and these problems are gonna affect your retirement and if you're not proactive about it. The ways that you become proactive about it is she gives a car. You let -- show you what's available. And we're not talking about god go groping guns you need to spend little time with that I'm sure that -- everything goes to pot. But we'll show you the safest ways that you can prepare for your retirement. So that you can have his least thanks to police and sleepless nights as possible and not relying on. Your own initiative for your retirement rather than letting other people tell you these lies in the cannot deliver when you need them the most. You know there was a time when all you had to really think about was. Of income risk in your -- your portfolio. So market risk. Inflationary risk longevity risk and running out of money in other words. Which is connected to market risk. Now we have this new risk it's called. Governmental risk. And you know I have to consider how that I didn't impact you in the future. -- just throw this have you considered. You know we have all we we lived through the biggest bull market by a wide margin that's ever happened from 1980 to 2000 that's when the baby boomers and all of us. -- generations were investing in these 401 -- and hiring isn't it was going to be wonderful and it was he's gonna go on forever this time it's different. We're now twelve years into a secular bear market. The S&P adjusted for inflation is down around 30%. From where it was twelve years ago. People civil and two major corrections have lost. Twelve trillions of dollars in in aggregate. In the dotcom crash in the the credit collapse. And yet you are told if you go to most of these advisors at their. Every hole. All you gotta do for successful retirement plans to have a good diversified portfolio can put money into a story about those temporary downturn the market always. Comes back over time if averaged 8% and if you pay more for pursue. Quality and I'm here to tell you that he's complete college well. Because we are as I -- down 30% twelve years into this once it goes on another ten years and you're taken into what do you think's gonna happen. If you haven't been taking incoming your some you know made up for some of the losses that you had in 2008. Now is time for you look at locking in those games and start looking at income planning rather than investment return because. I don't know if it's going to be this year or next year. But the market with a debt that we have with the world economy as it is the market is poised. To take a phenomenal. Drop. Well you have to make sure that your not in the market when that happens the trouble is. When the market start dropping say you lose 10% before you even pay attention. Then people are so reluctant to get out because all of a get out now -- 10%. And before long there in my office crying that they've lost 40% of -- we do now. So don't let that happen needs. This time it isn't different that's kind of the over arching theme of the show today. Countries failed economies failed market crash. And you. Have to do something to protect yourself because if you are fifty and over. You just about finished your accumulation phase in your head in the end. Toward you or distribution of income pace and you have to make whatever you have last year the rest of your life even if you lived in your hundred you end your life. -- husband. So do something call us 800. 6876768. 80687. 676. Thanked god bless you and enjoy the weekend see you later.