The following broadcasters they paid commercial program and does not reflect the views. Of the staff and management of Entercom communications or WORD radio. It's beautiful there. Good gracious welcome this -- government -- time and Tony -- with my best friend and partner Philip Allen. For the next hour we're going to talk about. What's really going on the economy as far as retirement planning goes it's a very different things just talking about investing. And what's happening with -- investments. Because what we talk about what we do for a living is we help protect people. And get them through their entire retirement life and let him sleep at night so we're gonna talk about what's going on with -- that now. We would love for you participate in you can you can call us at 23 to 973 in Greenville fired -- 496 haven't we in Spartanburg we'll do our best to answer your questions. We will be limited to a degree because in the end we need to know what suitable for you as an individual but we'll do our best to be good general answers. We are both securities license -- we work -- capital investment group. Member of Famer and -- and that we also approach everything we do with biblical. Standards of perspectives and therefore we start program with something from the Bible. Today about to give universe of very famous verse from Jeremiah 29 elevenths. Says for I know the plans I have for you declares the lord plans for peace and not for evil to give you a future and I hope. In this world of uncertainty it's good to know that if you're a believer in the lord Jesus Christ. He has very specific plans for you that rise above our current difficulties. And that our current difficulties. Is what I'd like to address with a couple of problems. One of the days. The borrower is slave to the limb here as we look around the world of what's going on much of what is under way as the result of debt. Andy is only beginning. Their for the second primary is. Prudent man sees evil coming in -- and self. -- -- You know we have made a career -- -- trying to warn people about events before they happen. We were on the radio long before the downturns. That happened. You know seven LA telling people it was coming. We've been telling people. What is under way it was coming. And it isn't because we're geniuses but it is because we. Take a long term view on things. We're not just. See in oh well LaMarcus at this much and down as much today tomorrow hey -- let's move some money over there and it really diversified everything will be okay. -- don't think like. And you shouldn't think like it either way so here's the real lay of the land you know of course that I'm sure we. You've been listening to news -- even paying attention you know that we had. Worst. May since 22010. And we just finished the worst week we've had the year. And then now we're negative territory. But here's what you have to think. Long term so let's go back not what happened over the last. Couple quarters let's talk about what's happened since 2000. Over the last almost -- head toward thirteen years now. Thirteen years into the new century the -- Not adjusted for inflation accidentally these are just raw numbers just from inflation to be a lot worse in this. Dallas down fourteen and a half from where was a double time hiring. Isn't these down eighteen point three in the NASDAQ called on your -- for this one is down 46%. Not adjusted for inflation. Think about the -- of your retiring. If this were to go on same sort of thing for another 1015 years in -- taking income what do you think would happen. To you. We see so many articles about. How much money should you take out of your retirement plan should not take out 4% less than man. You cannot take out more than that where should -- and they asked. It's just such a simple playing in order to ensure. That she came out live your retirement savings but yet a lot of people don't understand what Tony not help people with this give you the peace of knowing that you came out live. Your retirement savings if you're on this rollercoaster. He can't sleep at night you need to consider a different way. They use the market has been volatile as of late. Is is I guess an understatement it's like on the as like when the challenger blew up the first thing that citizen we think we've had a major malfunction well that's an understatement. But. We have to look really seriously the S&P is down right now 10%. From its high just a over a month ago and so one of the things that. Let me just read this article -- watch for an avalanche of sell orders Monday Monday's trading will be the first opportunity stock investors in the US we'll have to act only major technical violations that occurred Friday's closed. The breaking of the 200 day moving average is one that -- echoes -- very simple thing to see. When the market finally goes below the 200 day moving average this consult result in an avalanche of sell signals. Hitting the market on -- opens as many technical analyst -- 200 day moving average is a dividing line between bull and bear market. They considered the primary trend to be -- so long as the market is trading above the 200 day moving average. And as the train -- bearish whenever the marking the close below this average and that's what happened Friday. Though the market doesn't always follow off a cliff upon breaking the 200 day moving average is certainly what happened last time. The market broke this key technical level that occurred last August the second remember last August I remember it vividly. All. Which day the S&P closed at 1251. At its intraday low -- just one week later on August the ninth the S and pasted a 150 points lower and extraordinary decline. Of 12% in just five trading sessions last time this happened. What happened Friday. One week later the market was 12% lower. And that is the kind of thing if you retire you cannot. You cannot survive. The thing you have to understand is if you were over fifty. 55 your either you're in toward retirement your few years away you we've saved most of what you're going to say. Now your job is to protect what you have from losses like yes. The second thing in the more important that these things as you have to find a way to make sure this money's gonna last you and what have you been told. Oh well the markets always averaged 8%. I'm not you know will be based on bad if you take more than 4% you should be all right. What Phil alluded to earlier you know we know what your number how much it well how about this. How about if the market continues to decline why you're taking in -- The entries. You will run out of money I declining yesterday true story -- -- a great story that illustrates this point we talk about sequence -- returned. He's a highly. He was gonna fly to Pensacola the small plane. So be it all figured out -- calculated how much guessing need and he figured he'd stop someplace about two thirds of the way there and and so he's flying anything he's going over I 85 he's looking down. And these airplanes were not moving any faster than the traffic. He's got the thing -- is just crawling along the dance -- we finally. They stop in Atlanta discover there were a 160 mile an hour headwind. They finally decide well we're just gonna turn around and go back. We'll took me thirty minutes to go back two and a half hours to get to land you can driven their car in the same manner to some of his point is. The point in this is that's what happens do you or income. You run out of gas if you have the headwind of losses in your portfolio. -- have you heard that dollar cost averaging is something that you need to take advantage. When you're investing money. Well it is the calls that enables you when you save money to -- Lo. And you know sail high. And that's what you wanna do but what you don't realize is when the reverse -- happening you start taking money out of your investment. All the advantages of dollar cost average turns into. Detriment. It starts working in the opposite because at the markets down and you've got to liquidate the shares to pay your -- that money is never coming back and it will devastate. A retirement plan that's why we tell you a good investment plan. Does not make a good retirement plan. Well listen we have to take a quick break in -- when we come -- Will continue in fact what we're gonna do we come back is is try to. Get through there are so many headlines here there's no way in an hour's time we can get through -- beaten by reading the whole stories. -- we're gonna do what we call sort of our news blitz we're gonna get through as many of these as we can possibly get through stick around more of comments it's retirement planning right after this. Sons. Lots of sunshine for the rest of our Saturday thing going into tonight will hold them nicely into the 60s throughout the evening. Admit it to expect Italy tonight that clouds increase throughout Sunday but I don't expect green and those clouds I -- reach the mid eighties partly in the afternoon. And -- Monday and Tuesday and bring back small rain chances. And highs will be very warm in the -- -- for the fox Carolina weather -- and chief meteorologist in Africans on these are you WORT. Six point. -- Blair 42 pence doing on Tuesday July 17 and I'm John and I didn't even 51. Party tips and things staying sick to think. Claire Janus 39 died Monday eight and she was a vibrant caring person -- in Jordan. She was involved in many -- He enjoys hunting machine and mania she loved spending time with your family traveling. She survived mind. Blair leaves behind her husband Jeff sent asking him. I'm loving my two children three children and three grandchildren parents told -- Barbara and stretch of time assistant nation and countless friends. Secondhand smoke kills thousands of innocent people each year how would that affect your family she will be missed. Call 1800 quit now that's 1800 quit now sponsored by DX. I like a weed free expression that's -- -- -- -- -- -- -- roundup extended controlling driveway -- illustrate just once and its audience needs to force we. It's a one folks trust round of the masters. Unless it's spelled disaster and kills weeds didn't kills when you get your -- that we'd like to. What we've gone around -- the way the tough one fighter in the USA. Round. Hillary -- -- leads for months. It's unbelievable direction. It's effective programming in a minute but first listen to this. Seems the New York -- is releasing to the public classic US gold -- there's a number you can call for free historical information and a free dvd but first it says that during the Great Depression people were clamoring for gold coins because no one wanted to face economic turbulence without the security of gold the government finally took them out of circulation and the government -- -- was ordered. That's why most of us have never even seen a classic US gold coin but recently a stash was discovered in Europe gleaming US gold coins minted between 1866. And 1933. All and circulated it says the New York -- is releasing them to the public on a first come first served basis when you called. Here it is 1805056991. Wouldn't be amazing to hold US history OK if you want it free historical information and the free collectors dvd the number to call is 18050569911805056991. If fear of losing your money worries you call Phillips and Tony and 8676768. For a complimentary consultation. Welcome back to comments and retirement planning this it's Philip -- with my co host Tony dale. We're inundated with happy talk about the market. And you not think DC a lot of negative right now but 93% of everything you say has some kind of positive Spain and and it what happens a lot of time it comes from people who haven't agenda. For you to take too much risk with your money. And we are so bombarded with information sometimes we draw all the wrong conclusions. And regional story that talking about being drawn in -- wrong conclusions. So as to read knicks decided that they weren't going anywhere in life and thought they would go to college to get ahead. The first went to see the counselor who told to take math history and logic. My first cousin is professor of logic. At the University of Wisconsin in Madison he's not Fella. So they told to take math history and logic what's logic the first Fred -- -- ask professor answered let me give you an example view on weed eater I sure do. That I can assume using logic that you have a yard -- by the professor. That's real good said the redneck. The professor continued logical also tell me that -- you have a yard you also have a house impressed the rednecks say it amazes. And sing and you own a house logic Dixon takes that you have a wife. That's maybe maybe that's incredible leases the redneck was catching on finally since you have a wife logically -- and -- in your heterosexuals at the professor. You're absolutely right while that's the most fascinating thing I have ever heard I can't wait to take the logic class the redneck proud of his new. World opening up to him walk back in the hallway were his friend is still waiting so what classes -- he'd taken. Asked -- in math history and logic of replied the first redneck. What carnation is logic ask is for him to let me give an example. You don't weed -- -- first redneck. Know his friend replied. You gave each. Take a truck truck and if he can he can get bombarded with information. And draw the wrong -- Here's you can be injured his right. All right get this from the Daily Mail and we'll take a phone call. Just some headlines for being where they rerun of the great panic -- head of the World Bank warned Europe is heading for rape dangers around. Robert Zoellick yesterday said that the financial markets face a re run of the great panic of 2008. He -- far from clear that leaders are ready for impending pedestrian. Here's a raft of dismal news from around the world wreaking Havoc on the market manufacturing output has crashed in Britain joblessness is up in both Europe and the US and 11% in Europe. And fast emerging economies such as Brazil and China are now running out of steam just a little headlines for you. And one of many we'll try to get it through that stuff first let's let's take a phone call and now Bruce in Simpson's home of -- how are you. -- you book to sit not questionable -- -- comment good. I'm. That was not west coming -- -- listen to various talks this week. The indicators that -- or just not they understand what it would be there. Is it where it -- and it. Even further -- site we we come out of -- recession because you know we're still it. It looks like you're gonna get deeper in there Wednesday older gentlemen -- -- -- -- it. He was indeed in that whenever talk about apple. Apple. And he used a couple of businesses -- And he -- I -- secretary Alex retired now but he bit. Really it. What were paper. And -- didn't really matter who's the president here. The -- if you stop. And I disorderly. Look at it at all prices or prices went down or away and we noticed it and -- born that way again. And that sealed it by about Europeans. To me a real big -- On top of what this loser but -- if it does is it. What your take -- I absolutely agree. Go through quickly in the Philippines -- comment as well. -- -- -- -- -- just one of the things we wanted to talk about today was an article about Paul Farrell out of MarketWatch. This is warning America's new age of austerity starts now. The now delays will be in the impact. -- warning tighten your -- America's new age of austerity is already here today. There SA added I admitted and you better to prepare now could be like the 1930s depression austerity. Using the warnings all across the major newspapers about a global slowdown but why no warnings of austerity did -- why Americans still deepened denial. We prefer had to be talked to the truth and nobody will get honest about austerity till after the elections. Then it'll hit hard. Till the elections nobody else will tell you the truth about what comes with this slowdown. I don't plan on classic economic austerity. Maybe not austerity is deep as the Euro zone's -- angry ship may be deeper than the 1930 is Nobel economist Paul Krugman writes in his new bit. Into the depression now. Yes America it's already in a depression wake up America to the long bear market a recession cycle to austerity or everything slows down income jobs retail global trade. And market returns listen to the latest warnings just last week and we'll talk about those later. An end Bruce let me let me share something that this is a piece from Walter Russell -- from American interest and he's talking about bank runs in Europe now what -- think closely to. Listen closely this hundreds of billions in euros have been moving out of the Greek banking system but there are no lines in front of the banks. These days you can do it all on the net we've entered the age of invisible bank -- are waiting for the first virtual -- In invisible Banc one's a hard thing to see. I mean how much money has left the banking system -- these days it's happening anonymous phone and anonymously. And you only know what they tell you now listen closely to what I'm reading here because this applies to our government. They are very unlikely to tell you the truth officials -- like rats in times of financial panic they do it out of a sense of duty. They will insist that a given country will never leave the Euro until the moment it does. They will say that the deposit freezes them think callable until they announce that they've done it. They won't tell you bank of rock solid until the moment they padlock its doors. This is all for your own good of course. They don't want you to panic and they wanted to make sure that your -- trapped. When they take it away or turn it from golden to strong. Bank crimes even virtual ones are the method by which public sphere can blow up the Euro zone and that is what is under way Bruce. And we're all connected now what they hit. Yet do you understand about Ben Bernanke said while Ben Bernanke tell us the truth. If you remember Morgan Stanley when they excuse me JPMorgan. Got so big in London. That there trades were so be that they actually warped. The index they were trading against well what happens when you're the stated chairman. You can't say the truth because your words are -- actually -- you know people are gonna go on to panic so they can't tell you the truth. But you have to start looking at some people you know we can tell you the truth because. You know where a local show we're pretty popular around here. But what we say he's not gonna you know affect the stock market so -- actually fortunate that you can have someone that goes you know goes against the mainstream financial media. -- get to the truth. -- -- Bruce I have a great quote for you listen to this quote. Stocks have reached what looks like now permanently high plateau. Irving Fisher professor of economics at Yale University 1929. Think about it. Well yet -- we got it -- -- mean remote we can talk about local and but if you know capitalistic and they're indicated they just can't say it because which are saying it will out of it. Exact in -- in -- the thing Bruce this is there's never been a time a more propitious time for people to stop and take stock. Of where they are invested at the moment and start thinking about how do I protect this stuff. Against what's happening. And that's what -- always do. Is is defensive. Safe money strategies because we've been bluesy in this government for a long time and been in new positioning people say they don't suffer. It's problematic -- coming this week it I have to really resonated on its own and at all and it is not an act so I said they are in Europe there's been. Runs on the bank that I don't know. That's that's what I was talking about they are billions has been moving up but but but that it's being done on using electronic. Runs so it -- piece of the government's glossing over and acting like it's not happening it is happening. You didn't you can move from a Spanish bond the US treasury bond with your -- phone. And I you know you don't have to have a line out in front of the bank. -- it but it it did what. If I'm wrong we're we're not we're in terrible shape if directed by. Europe is in worse shape it is not the issue. Where were the tallest man and a roomful of -- Doug Wilson hey Bruce I appreciate your call very much. We're just about out of time for the segment because we have the news coming up. But again when we come back we're gonna try to cover much this territories we can't here's the here's all you have to understand with this little. Little -- I'm -- okay you're in trouble now awful political in correctness right here on the radio -- that's gonna do it for us man you've ruined. But tab when we come back we'll continue to talk about why it is essential for you. Two began to think about protecting what you spent your life creating your life savings. And there are ways you can do this you do not have to ride the roller coaster up and down and up and -- I have another 60% loss like happened in LA you don't have to -- there. And we'll tell you more on that. Coming up after the news gives rain if you like as well 2329673. -- rebuilt by -- for 92 between sports. News radio WOR DP. Double BYIDF -- Simpson will -- Spartanburg WYRB Graco W origin sports. -- Sunshine for the rest of our Saturday thing going into tonight will pulled out nicely into the 60s throughout the evening. Admit it to expect Italy tonight that clouds increase throughout Sunday but I don't expect -- and those clouds I've reached the mid eighties partly in the afternoon. And -- Monday and Tuesday and bring back small rain chances. And highs will be very warm in the -- -- for the fox Carolina weather that Arab chief meteorologist -- Africans on these are you WORT. 16 point. What color is your -- do. Discover Laura from Benjamin Moore whites simply don't find this game we never made me and after 129 years of making paying benzene a lot. Danny Dan Moore is -- a class by itself. Thanks to our exclusive color -- technology colors are deeper richer and more enticing than ever before they apply smoothly and evenly and never require more than two votes. What's more or is virtually odor free it's possible to. And it meets the most stringent environmental requirements for -- DOC -- So it's not surprising then Laura has been certified under the green -- standard for low emitting products in the green card for children in schools and it's also won the popular science best of what's new award. Why not see for yourself and discover your aura from Benjamin -- the backdrop of your life visit suburban paint company in green -- located on north pleasant -- drive in the late for a shopping center. -- Saturday afternoon at 54 maximize living with the doctors Joshua Dara and Jeremy Wilson they'll help you identify health problems and region maintain your full health potential maximize living every Saturday at five on news radio WORD. May I have your attention please. If you're trying to lose weight we need your help. We're AF plus and we have too much product and too few participants in our nationwide risk free trial if you need to lose thirty pounds or more and would like to participate com now 180401902. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- That number again is 180401902. If fear of losing your money worries you call Phillips and -- and 8676768. For a complimentary consultation. This is common sense retirement planning with Tony -- Phillip island. Before the break -- mentioned little. Person I'm sensitive about being politically correct. Coming didian and we were having wanting to give you have a distribution to give up bottles at some. At the ballot senator where they're having all the hospitals graduate and just give it graduates a little new testament after it was over within. The ballots and made it very clear when we asked for permission that we could do we could give Matta on the sidewalk. But not beyond their property and then that. We weren't sure what the sidewalk was Iran from about listener. They have a -- we felt that was the sidewalks -- lethal truck which we had to get off their property. You know it's bad in this country when that. You can't give out bibles to graduates. And you know and that say it but anyway well. On being politically correct. I heard once outpost. In a break -- was there was a fight. And the Hollywood dramas that have this I beat Ian. And he's the man that had run into -- said the gal went into this little stories that well ran into the back -- the gallon paying attention. As it when he got out of the car that he was mad at -- he was a little burst. You know and said he was just he just -- fired upset with means that he walked up to me. Let it looked up -- -- he stuck his finger in my face and -- did I am not happy. And -- danceable which one -- He's so that's when the -- starred. I mean. Our. As we go through all all of these stories as I am just give you some headlines here here's what's going on this week. Manufacturing index below average. Wall Street Journal warns new signs of a global slowdown weak reports in US Europe and China suggest economic economies are slipping in saint. Yes a global economic slowdown he is -- not just a typical summer market via. Not even a double dip recession but a dark long scenario we've all been experience with it deep deep austerity. April pending home sales fall five and a half percent estimated flat becomes an acutely sixteen point 3%. For over the since the fall and winter and justice in the side on this. Think about this. Our net worth essentially in this country's. Our homes are real estate and whatever is in our portfolios. We know it's happened to most people's portfolios -- people not working with us. And most people's home values have dropped but think about this when in Atlanta right now 55%. Of the homes are under water. Perry DN. That we had on the shows is turning out to be right this time in fact that the stock market is -- to take and is taking a beating that's a dollar remained strong. -- the -- Los Angeles Times warns. Europe's woes for the drag on world growth in these these -- articles from last week even powerhouse Germany may be faltering. Not just the eurozone the reports of economic trouble are turning up in China India South Africa Brazil and elsewhere austerity this year. And the conference board reports this week that the consumer confidence has fallen to a four month low. In the eurozone unemployment has reached 11%. China's manufacturing. Has fallen to fifty point four from 53 point three. As has India and South Korea Taiwan. And India's first quarter GDP. Is only five point three that's the slowest in ten years. The New York Times last week hit land fanned the flames of -- attest to size thing -- -- global contagion. China's output slowed sharply ripples feared. Nationwide real estate downturn is Tony was talking about. Stalling imports and declining. Consumer confidence yet China was totally predictable a few months ago where headline read. World Bank warns China is a ticking time bomb. And stocks walks the worst day in 2012 but this is interesting. Volatility your vick's surges 10%. That's right. After suffering the worst day of the year. We now see the volatility index which is. A very good gauge of fear in the market has surged 10% to above 26%. Not a foreign policy five world events that could swing the US election. And send the economy south word that's an Iranians showdown. The European -- have a Chinese economic slowdown a domestic terrorist attack and an unknown unknown the unpredictable. Blacks want. Which could be. If I'm eight. In this is a very real possibility. That you can find this out you'll learn more about a go to NASA space weather. Or no -- space weather. But we are in a period between now and when he thirteen of the highest it it's only happened once before back in 1859. Where you had the coincidence. Even a mall under Maxima that's the peak of sunspot activity happening same time we had a peak in solar storm activity. When this happened in 1859. To carry to an effective cold. It blew all of this telegraph it's -- move that was the only electronics around him that we're gonna happen now we got a direct hit from me X class solar flare. It could blow the power grid could blow apart computers it could do all kinds of ugly things. Could that happen well yes it could could a major hurricane happen. Guess it could it. The reason we're telling you these things is to America constant quest. To get people to be careful about their retirement savings if you're in a situation where your broker tell you just hang in there. If you're a situation where you've got a potential. 40% upside and a potential 40% downside. In your investment that's insane if you're in retirement. You need a situation where you have. Fair rates return and safety because you're not going to be able to earn this money again and especially if you're already taking withdrawals from this. If you say will 2000 they hit me hard -- has anything changed in the portfolio except you -- some of that money back. I -- things and -- -- it would drive you you you wouldn't believe. Some of the of the people walking with their statements in our offices. NIC things likable. Couple came in your week or so back and he was eighty she was 85. And they weren't brokerage account and and they were in 70% stocks I mean what they're okay so here's what you have to understand. UF two ways to go with this. This retirement income deal. You could do it everybody else's soldiers don't worry about. These temporary downturns in the market because all market always comes back overtime minutes every state percent to therefore you should be fine when you retire if you don't take more than 4% -- the averages a here's what they didn't tell you. If you wanna get that 8% figure which by the way is five something when you adjust for inflation. But. You have to average it out from 1890s. Up through now well. What if you were to have retired for example during the depression. That was a 25 year bear market where the return toward negative what have you been taking income during the act. What would have happened. And that's it's a -- It's a sad commentary that people not realize that there are turned it is to it took to living like that. When you have a house you you can keep it clean. He tried not to leave anything on the stove when you lead to burn the house down. You. My wife got a little thing to suck out the -- out of the dryer so that Dreyer and catch on fire. You do everything possible to keep your half from burning them what's the one thing that you also do you good out of state farm and you by the insurers falsely. This is if they'd just if it if someone on the ones that happened to burn down. They'll build it back. You need to do the same thing with your retirement. You need to do everything possible to get the best straighter return possible safety and we wanna help you with that but then you also need. A -- and insurance policies says look if I lived too long. Say most people work that with insurance are used to insuring thing bad things like you know he had that to senator somebody gets say well really there's insurance for a good thing. There's insurance for you living too long. And that's what we help you. The media -- just an analogy when you hear wanna be your advisor tell you -- -- don't worry about it if it don't just keep paying -- in their markets always come back around to all the same -- we now her for almost thirteen years were down thirty timbers and ESP adjusted for inflation. Let me -- -- a thought instead of thinking about this is money imagine if you were told instead of you needing a 41 K or IRA what you need is a sailboat. So you think but I don't know anything about say about us okay you go talk to the saleable expert which you go there he tells you yeah. Actually historically very few sailboat ever sink. It's wonderful if you're gonna love this and he's able OK what do I do always it's very simple you just let the wind catch the sales. And and just don't run into anything steer carefully and it's going to be fine and so for a couple plays it is fabulous -- thing you know this is easy man this is fun. And then. In the distance you see these roiling black clouds roaring down on you when you get on yourself when you say -- Mr. terrible salesman there's a storm coming we -- I'd like change something here and -- all. Everything's -- just keep. Doing what you're doing because historically very few of these boats ever sink in your -- but -- on this -- and they're just coming -- you're sure about this. All know keep the -- up it's gonna be fine hold the course stay the course. My friends we are in. A major. Economic storming you're in a book. You -- better change your strategy anyway when we come back we'll talk a little bit about some specific. Tools that are now finally beginning to get some traction in the wider press we talked about Camelot but -- -- to talk about. -- -- I was over rich breakfast you. And there's some nice people what part of what happens over there is everybody can he get to know people and it is really I think one of the young guy who's a real nice Fella. Actually heard about. Did you them on show here. But so today was a -- or distant sixth ranked around the bag work and he can do get me you'll if you wanna do -- got to do with martial arts fighting boxing whatever that solves that got -- -- -- -- in -- But they've got personal trainers who wore one on one with you. With weights and machines and all that sort of thing and -- program so that you can become the person you want to Nephilim just -- living longer -- you. Plans are or how do you live along -- -- you want to live a long time but the trick is how do you live a long life and still be fit in vital secret enjoyed being. 89 the hundred years old. And you can do it. But you've got to do you have to do it in the one place to do it is brits Brothers -- Out they'll give you free go around over their check amount you can call on the 288017. Saffron. Ritz Brothers is it 576 Woodruff road which is over an economy that academy. You'll see either -- listen there is no bitter personal training in town in my opinion. That's where I go that would have been going mental place on ago you should do rich Brooks. -- Sunshine for the rest of our Saturday thing going into tonight will hold them nicely into the 60s throughout the evening. Admit it -- expected late tonight that clouds increase throughout Sunday but I don't expect rain and those clouds I've reached the mid eighties partly in the afternoon. And -- Monday Tuesday and bring back small rain chances. And highs will be very warm in the upper eighties for the fox Carolina weather Arab chief meteorologist in -- on these are you WORT. Six point. Amanda had 3000 dollars a -- transmission went recap 4000 before his engine died sue has no money and -- on board computer broke. 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Give my first dot com. For your dollar goes twice as far -- If fear of losing your money where did you call Phillips and -- and 8676768. For a complimentary consultation. Welcome back to conferences through their planning and generally deal with my partner Philip Allen and that we have a phone call so let's do that first day -- legal hate David. Hey are you a quick question -- -- -- -- secure building the epic did feel a -- Exxon's stock in Chevron's stock speed -- -- retirement. Is if the economy goes out wouldn't. Exxon and Chevron -- one of the most stable places semi that they went under everything would go under it's what is your opinion known Exxon and -- to go under. Or well I I don't know I I don't thinking Exxon and Mobil will go under I had I here's my problem with owning individual stocks. We just what do you. The same thing haven't -- that happened the Union Carbide. Or Dow Corning BP with seals the right. That it it would only take some unexpected event such as hurricane or something. That could definitely hurt stocks he's got he's got everything in just one or two stocks think there's did it mean that is a lot of plates. -- pull money these have one place. Yeah made it 96 years old here in. It's it has served him well. He's -- at 435 years. But it's ordered -- -- -- not kill people effects I'm going to be in my book it's. And Chevron if there's two things collapse. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- That were out throughout yeah I -- they're not going under but they're stock in certain -- no question. Welcome that your guys it's important to have that it was curious about it up. Brilliantly and let me just let me leave you with this this -- here -- David if yardage 96. You've inherited some great genes that's good news bad news. Because that means you're likely to live a long -- -- you'd better comes history talk about not run out of money. A guy like that in thing I don't want to stop that getting to these little pieces and I can do the whole thing feel that this is. Both there have been several really good pieces just in the last couple weeks. All about annuities -- the cover of Barron's Magazine is all about annuities. One of things one of the attractive features of annuities is. That they can guarantee you income for life this is from time magazine time Moneyline -- this. Retirees have split personalities according to black rock retirement 77% of them wish they had locked in a guaranteed income stream when they retired. And 86% say their employers should have helped arrange one in other -- people wish they had pensions like our grandparents had. Yet guaranteed income isn't just about confidence on a personal policy level it's about insuring against the bad decisions that inevitably come with old age in the loss of cognitive function. The prevalence of dementia in America doubles every five years is in a Covert. By 85 nearly a third of all Americans are afflicted. And that's means that they don't think clearly that's more than half the older population these people can't calculate 10% of the thousand dollars. So all of a sudden they are what they supposed to do how to navigate the stock market asset allocation distribution to the nest egg roll over all that kind of stuff. Well the answer is they can't and what they need is income. And this is that the name of this article -- from his quiet annuities are the answer but such a tough sell. And just one quick thing and you can have a say your. How we have a skewed notion of annuities sometime call longevity insurance. An annuity is essentially an insurance policy pays off we would with a good things happens Kyra -- was talking about if you live a long time. But we're conditioned from early belted think of insurance is something pays off when bad things happen. Part of the not national conversation needs to be about refraining annuities as insurance. That you want and expect to pay off. The biggest misconception about retirement communities is that when you start. When when a company guarantee you that she came outlived the money because that's the one unknown you don't know how long you -- Malia. You may -- five years you may live past a hundred in more people are living longer there's a big miss just that several articles here we don't have time to get to that people. Our say in all I'm on the live twenty years well the fact Diaz and people are living especially a couple. One of them you know if they both are 65 who wants to live way into their -- statistically. In their way underestimating how long they're gonna live and immunity is the only thing they can absolutely guarantee that she came -- -- that money but unlike all the communities where you had to give up complete control of the money was gone home. All you had left was a lifetime payment. You can get a living benefit now where they'll guarantee is launch July immature withdrawals to 5%. Four and a half percent something like that. You can outlive the money but if you -- out where to hit junior wise the next year. The -- saw what go to your -- you don't lose control that lump sum and is something that has to be considered in retirement planning. Lot of people have communities they don't even understand what they have you know that you need an annuity review on that just explain what you have. In fact and that's another important thing people see that. His because they've been all kind of articles written over the years most of them by the way by the mutual fund industry saying all annuities -- Quebec no annuities. Are bad anymore than saying Carter's about it. Now there are some cars I wouldn't particularly. Want to have you go. Let ally in Alex's. They're not all the same so the trick is. What's the difference between a good annuity an abandoned annuity and there are plenty of bad ones out there don't misunderstand. But if somebody tells you hope the newly I heard they're bad well. It depends on what it is and what what it is and how does it fit into as a part of your overall planning but here's what you have to understand. Our grandparents had pensions. In the end they cooked up before one K in the IRA and we were told oh no you're gonna save for your own retirement. Well where thirteen years into this new century. Most people's 401 -- diaries are down substantially. So how's that working out forces a cultural so far not what you whale. And all of a sudden the idea of having a pension star system pretty dang good. What that is all in the world and annuity is a pinching is an annuity except the ones we think about a funded by governments are. Private companies which you have to understand as you can create your own pension that you control. But unlike the old tiny pensions that just heading BJ -- -- ties the money which is what -- was talking about give up your principal. And you're stuck at whatever that payment is if it's a 100000 dollars in payments for a half percent that's 4500 dollars -- ever. What what's -- gonna be worth and teen years when inflation gets to go moreover if you walk up the next day in the lord take you home nobody gets net. Stalin a client one town just about chit chat about four Chevrolet is Chrysler -- and have a Chrysler. Doesn't wanna he's that I had to DeSoto onetime and I couldn't keep the brakes on and I thought well. Make an -- I didn't even notice you know Chrysler bought the -- although maybe ought to give him another chance. You know one of the biggest misconceptions about an immunity is they're just they're the same as they have always been for thirty years Sherlock is not your Graham calls those mobile. Modern day in new cities the fact that you retain control of the lump sum while having guarantee that she came out of the money is something that's got to be considered in a retirement plan. Where you can have freedom to spend the money without worrying about out living in the money. And that is one of the things we sealed water actually these people are just missed -- -- -- quick two story had a guy. Who's my favorite clients as it and it came to -- me. Back in a way. He had already lost with with one very big big well known. Brokerage account couple 100000 dollars so march -- boy he comes to see -- first thing we did it pretty zero stop loss. So we we went into a type of new -- guarantees that if the market drops you can't lose a dime. Will market dropped all right it lost about 50%. From when he came to see me. -- -- -- -- But then the market started coming up and it kept going up and we started doing very very well more importantly though this -- What's called guaranteed income meaning that he was able to start taking income and he had a promise that. For the rest -- his life this income was going to continue. And every time we had a good year in the market he'd get a race because he'd get them to capture whatever the game from the previous year. Now all of a sudden for the first time in his life he quit worrying. About his principal and what was happening with this principle because it didn't have anything to do with that had to do with the fact that he had income and he couldn't possibly -- -- it. If you have unprotected equities if you're in a basic brokerage account where they took a risk tolerance questionnaire. And that you know all these different great categories. Please remember in 2008. Where you're supposed to be had these different classes that you know. Bonds would go up when stocks go down because of the nature of the waste archer traded right now all lose our trading in law stay yet. You may have no protection hardly at all. In one of those types of accounts. You need to consider alternatives that have troop protection not just some kind of imaginary protection that may have protecting you in the past the the calls of the high speed trading this going on now doesn't protect you at all. I have a chart -- in my office -- show people you know this whole thing about diversification is the key everything you know all these different asset classes off city chair there -- Keeps things smooth in the risk free. I've got a chart of the vanguard family funds all of them. All of the stock funds went down together empirical evidence diversification doesn't work in a bear market in my -- We are not available market we are any secular bear market -- could go another ten or fifteen years and your job to protect what you have. When your planning for retirement you need to plan the live to a hundred. And if that's the case. The only way that you gonna ensure that you came out of that money is to use some modern methods. For that are made for retirement not some kind of investment plan this made for 25 Euro. We're about a at a time -- give us a call 1800. 6876768. Free call -- 8676768. --
