RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:00:01]
MALE: You found it. It’s your safer place for retirement planning. Prepare to be coddled in pure fiduciary goodness with your host and president of Decker Retirement Planning, Mike Decker, and his co-host, Scott Drake. This is Safer Retirement Radio. If you’re in or near retirement, listen up and learn about a math-based, principle-based approach to retirement that is designed to help you enjoy a safer retirement. These strategies are to help protect and grow what you’ve saved and live the life you want today. So, grab a pen because your safer path to retirement planning starts now.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:00:38]
MIKE: Safer Retirement Radio listeners, welcome. This is a special edition for Labor Day weekend here on Safer Retirement Radio. I am Mike Decker, host of the show here. Scott Drake is taking a break this week, but I must admit, the special edition is very deliberate in what’s going on right now with our economy, with the markets, with a lot of the literature that’s going out to retirees and the bombardment of marketing and manipulation that is just plaguing the industry here.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:01:10]
MIKE: And so today, it’s going to be you and me, me and you for the next 50-some minutes, having a heart to heart as level and as fair as I can make it here about retirement planning. And if you’re just tuning in here, folks, this is a show that is meant to give you the transparency that you deserve. We say it over and over again, but when I say give you the transparency that you deserve, I want you to know what happens behind the scenes. I want you to know how decisions are being made in the financial industry. I want to be able to answer the question, why was this recommended? Where did this come from?
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:01:50]
MIKE: You know, the who, what, where, when, why, and how. I want to be able to address that. If you’re of a retirement age and you have enough assets saved up for retirement, you should be able to do what you want to do. You’ve worked your whole dang life. So being able to do that shouldn’t be fear-based; it should be deliberate and purpose based on how you want to proceed. Hopefully with today’s show, I’m really going to be highlighting a lot of things in particular here. Hopefully in today’s show as you’re driving, maybe coming back from camping or whatever you may be doing this weekend. Maybe you’ve stayed and you’re out camping right now listening to this show and you’re going to be coming back on Monday.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:02:30]
MIKE: Whatever it may be, I hope that this show can give you some clarity and think about a few things a little bit differently so you can make the right decisions for you. Now, at deckerretirementplanning.com, our website, we also have a number of e-books, how-to guides, articles that are mostly financially based. However, we have a lot of other not financially-based lifestyle articles about nutrition, about identity theft, how to prevent it.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:03:00]
MIKE: When it comes to retirement, it’s not just your finances. When it comes to retirement, it is a lifestyle series of decisions that must be made. Now, in looking at the economy right now, I just got to say my heart goes out to all those retirees who are retiring, who are celebrating Labor Day. Labor Day is a celebration of all of the hard work that Americans do. The innovation, the creation, the manufacturing, this great country that we’ve built up to become something.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:03:31]
MIKE: And it really has been something, and sure, there’s political unrest, and there’s a lot of arguments happening. But when all is said and done, we are still a great country. We have accomplished a lot. We are a young country relatively speaking, but yet we’ve accomplished so much, and we should be proud of that. But my heart goes out to the retirees right now, and here’s why. You’ve worked your whole life and you’ve seen some booming economies. You’ve seen incredible economies. You’ve been born, you know, in the ’50s or ’60s about is the age of those who are retiring right now and some before and some after.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:04:05]
MIKE: But you’ve seen a lot in that timeframe. You’ve seen some booming economies and right now it is incredibly difficult for a retiree to retire. I’m looking at the US 30-year government bond being at record lows. Now that’s just one of the many but the 10-year treasury is at near-record lows as well. What’s the treasury going to do in the future? It’s really difficult for a retiree to live off of a fixed income or a bond lottery or CD lottery when rates are this low. It just doesn’t seem like it can keep up with inflation.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:04:41]
MIKE: Then I’m also looking at the average probability of the US economy being in a recession within the next 12 months and according to the Wall Street Journal, it’s the highest rating ever that the Wall Street Journal has surveyed in its history. That doesn’t instill a lot of confidence. Now with all of this, I’ve noticed two patterns with a lot of retirees you may be in one or the other’s boat. Because we may be in a difficult interest rate environment, stocks are more appealing and so there’s a significant amount of retirees right now, right now, that are favoring stocks over bonds or other assets.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:05:20]
MIKE: And I don’t blame them because it’s really hard to get a decent rate of return with bonds with the rates that they are so they’re willing to take a little bit more risk to compensate for that, to keep the lifestyle that they want to have in their retirement. But they don’t, and I don’t want to assume something here, they may not realize the amount of risk that that’s taking if the recession doesn’t happen in the next 12 months and you’re mostly a stock portfolio. What does that mean? If markets crash every seven or eight years, then is that a 30 percent dip in all of your assets? 40 percent dip?
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:06:00]
MIKE: 50 percent over three years like in 2000? What are we looking at? We will never know. There is no crystal ball here and market timing can’t happen, you can’t time the market. But with how we’re looking at there, stocks, though they may seem appealing for a decent rate of return now, hindsight’s 20/20 and it seems like, and I know a lot hinges on the trade world that’s happening. A lot hinges on speculation. But buying and holding and stock-picking or whatever the method may be, is it really good? Most of these that we’re seeing coming into the office are one-sided strategies.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:06:40]
MIKE: So they make money on the up years for a two-sided market. The market goes up and it goes down. Does not make sense. I’m going to talk more about two-sided models later on in the show but I wanted to just point that out. A lot of people are leaving the bonds and the fixed incomes that are safer investments. And when I say safer investments, I’m not talking about what we’re recommending here in the company. What I’m talking about are the investments that your typical Series Seven financial advisor, someone who’s paid on commissions, security commissions, may recommend bond funds, for example. Or bonds that are junk. Is it worth it? Is it really worth it? The other side, the other boat here, the other camp, the other tribe.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:07:20]
MIKE: Whatever analogy you want to put in there, are getting coerced, manipulated, persuaded. And yes, I’m using those terms deliberately here, to go into income annuities. If you don’t know what an income annuity is, let me just let you know real quick. An income annuity is a way for you to pay an insurance for you to get your own money back. And the rate of return we have seen over and over, because we audit these for those who are coming into our office for a second opinion or whatever it may be. We’re finding that the average rate of return for these income annuities is 1.8 percent annual return.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:07:56]
MIKE: Even with low interest rates, you can find checking accounts and savings accounts for more than that. Why in the world would someone want to do that? I’ll tell you why. It’s smoke and mirrors of this ghost account that’s going to grow a guaranteed seven percent or whatever it is and then what they do is they take that ambiguous number they made up, they divide it by another ambiguous number they made up, and it’s run by actuaries, very smart mathematicians, to then give you an income for life.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:08:32]
MIKE: And it’s an emotional play of those who are scared of the stock market given the situation. Now I can relate or understand why someone would be scared of the stock market when rates are this low, recession is looming, and all the different fear-based news articles are just in front of us over and over and over again. I can understand why someone may want to do this. A big reason is someone may want to do an income annuity because they don’t know what else is out there.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:09:04]
MIKE: Because maybe they just are scared and they don’t want to risk it. One of the biggest fears in America right now is running out of money before you die and let’s put it in perspective here. To all of you 50-year-olds right now, listen up. I want to put something in perspective. When you were 20 years old ‘til you were 50 years old, think about how much you accomplished. Think about all the memories you experienced. Think about everything that happened in those 30 years. That’s a lot.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:09:38]
MIKE: Now that same time frame, 50 to 80, about what we should expect from someone. If someone’s retiring at 50 or even 60 to 80, 60 to 90, as the health industry seems to be keeping us to live longer. You’ve got another 30 years ahead of you, roughly speaking, assuming that you don’t get hit by a bus or something tragic happens. That’s incredible. But now we can understand why those who are doing income annuities are just scared. I need income for the next 30 years, that income annuity isn’t accounting for a cost of living adjustment to combat inflation.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:10:15]
MIKE: So your buying power slowly goes down. Think about when you were 20, what a candy bar cost and now what’s the cost today? Assuming that nothing drastic happens with the trade war, I know that Trump recently told all businesses. I’m trying to be as politically neutral about this as possible. But he told businesses to find another source other than China for your manufacturing overseas. That’s a gamechanger. This political risk, and this is just what’s now not what’s in the future.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:10:51]
MIKE: Can an income annuity handle that? Probably not, frankly. Probably not. But is it worth it to take the stock risk? Folks, my point is there’s a lot of fear-based decisions, which is why I’m seeing more and more articles like this one. This real article says don’t retire early, buy a home, or be a lawyer if you want to be happy. [LAUGH] Don’t retire early if you want to be happy it says. Don’t buy a home if you want to be happy, it says. And don’t be a lawyer if you want to be happy, it says. Where in the world is this coming from? Now the article had some good points like stop apologizing, which I agree.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:11:30]
MIKE: If you didn’t do something wrong, don’t apologize. I love the Canadian mindset that they say sorry for everything but you know, what a bunch of wonderful people up there that are very apologetic. But you don’t need to take on the emotional burden and apologize for everything that you didn’t even do. So there was some validity in the article but their highlights here, don’t buy a home. Well if you bought a home and you’re paying off your mortgage, and it’s done in the next year or so, or maybe the next ten years.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:12:00]
MIKE: That could be a good investment. Now if you’re going to buy a mansion home upon retirement and you have a 30-year mortgage starting on day one of retirement or something around there, then there might be some validity here. But let’s put context around the claims that are happening and not these absolutes like this. And then the don’t be a lawyer if you want to be happy, I feel bad for that. I know lawyers are one of the most distrusted industries. Attorneys are one of the most distrusted professions in America but you know what? There’s a lot of good attorneys out there. There are a lot of good lawyers out there.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:12:37]
MIKE: Let’s not use absolutes. One of my dearest friends is an attorney, he’s back East and I know for a fact that he does everything he can for his clients and does really well. And he’s cause-based and does make a good difference so let’s be mindful of people’s professions here and focus on their intention. But anyway, I’m not going to go down that rabbit hole here. The last one here was don’t retire early, this one was fascinating. Don’t retire early because, and it says don’t retire early because and then it has all these different things like well, what are you going to do with your time? Well, work gives you purpose.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:13:15]
MIKE: And it makes a lot of excuses that are assumption-based. When I say assumption-based, there’s a lot of prediction error. It assumes that you want to work until you’re 60 or 70 years old. It assumes that you’ve got nothing else to live for. This just can’t be true. There’s a small group of people that are fulfilled by work and even if they weren’t paid, they would do their job. And for those people, I say keep doing what you love.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:13:47]
MIKE: For the rest of the people who do want to retire one day, let’s not hold up the party. The retirement party. Because of a fear-based decision that stems from an assumption that’s caused by a fear of the market conditions. If you follow the principles that govern proper retirement planning and you use a math-based, principle-based approach, you can know if you can retire early or not. You can know if you can find the next chapter in your life and find purpose in the next thing.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:14:22]
MIKE: I think of the term Manifest Destiny, which I know, I know is a little controversial here. If you don’t remember what Manifest Destiny is, it was the declaration, not of the United States, but it was a document that the United States wrote that basically said finder’s keepers. Now I know that’s an oversimplification of it, this is not a historian channel, this a retirement show. But the idea was that they could go through the different territories and claim things.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:14:50]
MIKE: And I know why it’s controversial because, well the Native Americans were here first, and we’re just taking their land and aside from that, the idea was that you could create your own destiny. For retirees and your time, I do believe that there is an element of accuracy when it comes to Manifest Destiny. The element is, you should be able to spend your time how you want. Do what you want to do. You should be able to put a plan together that allows you to have a time-based manifest destiny so you can go out and enjoy what you want. I’ll never forget we had a client years ago, his dream was to sail.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:15:28]
MIKE: And he wanted to spend 10 years sailing throughout Puget Sound and go on different trips here and there and everywhere. Mostly in the Pacific Ocean, he wasn’t a sailor that wanted to sail around the world. But he wanted to sail and his health was a limitation. He was not going to be able to do it if he were to wait and retire at 70 years old or so. He still had to have some youthfulness in him and energy to be able to do this. The beautiful part about it all is because we were able to mathematically calculate down to the month that attacks his retirement income and show them a principle-based plan.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:16:10]
MIKE: Math-based and principle-based here. Not only was he able to retire on time but he spent the next 10 years enjoying his most sacred hobby to him, sailing. On top of that, we incorporated in the plan, okay we’re going to sell the boat at around 70 years old and we incorporated the sale of the boat into the plan, which was another infusion of assets into his plan. And it was so dynamic, so beautiful, that we were able to build something that fit his unique needs.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:16:40]
MIKE: On the same note, we’ve got a lot of people that are RV explorers. They spend their retirement, or at least for the first five years, they plan to spend their retirement just driving around the nation, seeing all the national parks and enjoying the life how they’ve always wanted to do so. What an incredible time to be alive. They’re living their own Manifest Destiny in their retirement because they’re spending the time how they wanted to do it. And the reason they could do it was a math-based, principle-based firm or approach, with this math-based, principle-based firm, Decker Retirement Planning.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:17:16]
MIKE: Now am I saying that we’re the only ones out there that have a good solution? No. Some of you listening may be more suited to have an all-risk account. You just like to have more risk. Sure. If you want to but and hold a stock, I was talking to a gentleman the other night who has more money than he needs. He lives off his pensions and so he’s buying and holding, which I ultimately talked about how I’m against but for his suitability and his take on the market, he just wants to buy and hold the stocks and set it up for his grandkids and great-grandkids for their college, first home purchase, and other things like that.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:17:55]
MIKE: And it was more of a philosophical decision than trying to find the highest net of a few performances. Good for him. Great conversation, parted as friends, and it was a wonderful conversation. So I get it and I’m not going to claim that we are for everyone but the vast majority of people. I would be surprised if you came in to our office and didn’t learn something and didn’t find more clarity in your retirement. I’d be very surprised if you came to us with some of the questions that you have not been able to answer the way that it should be answered from other financial professionals and you did not find that clarity in our office.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:18:36]
MIKE: The reason why I say this is because almost every meeting, every introductory visit that we have, the arms are folded. Skepticism is palpable in the office. And by the end of it, their hands are on the table and they say, I knew the pie chart wouldn’t work. I knew the four percent rule was skewed. This is what I’ve been looking for. Now I’ve got a lot to talk about today, I’m going to talk about fiduciaries. I’m want to talk about a safer distribution plan. I want to talk about tax planning. I want to talk about safer investment options and a whole slew of things all today on this special where I am cramming it all in to one show.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:19:15]
MIKE: If this sounds like something that you’d want to do, if you want to learn more, go to Deckerretirementplanning.com. On there, you can sign up for the Decker Review. The Decker Review is a holistic approach, or a view, assessing your current financial situation. When I say assessing your current financial situation, what I mean is going over your actual plan to distribute your assets. You’re not in accumulation mode anymore, you’re in distribution mode when you enter retirement. I’m talking about how much risk you’re actually taking. I’m talking about let’s assess the market environment here.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:19:50]
MIKE: Let’s talk about your wills, power of attorney, and trust briefly and we won’t have time for everything but we want to briefly touch on that. Those are important aspects of retirement. Let’s talk about your tax minimization. It kills me to see a 70-something year old in the highest tax bracket because they didn’t effectively plan beforehand and now they’re required, minimum distributions are putting them into a tax-inefficient strategy because they did not plan when it was totally avoidable. All these topics here, we discuss but no financial decisions are made. Our introductory visit, the Decker Review, is meant to continue your research on your best retirement options for you.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:20:32]
MIKE: Don’t bring your checkbook. It normally is at a value of two thousand dollars but if this is conversation you want to have, if you want to come in and visit us in one of our offices, it is a 90-minute visit. These are the rules of engagement here. It is a 90-minute conversation in one of our offices in San Francisco, in Salt Lake, in Lehi, Utah, in Seattle, Washington, Kirkland, Washington, in Renton, Washington, in Las Vegas or Summerland, Nevada.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:21:00]
MIKE: It’s a 90-minute conversation in person where we can assess as things are as purebred fiduciaries. No financial decisions are made, it doesn’t cost you a dime. Though it is a two thousand dollar value. When I say value, it’s because of all the work we have to put into it. But we believe, whether you want to work with us or not, that it is critical and a pivotal moment for people to understand how their retirement is because it’s a math-based, principle-based approach that gives you more clarity.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:21:30]
MIKE: If that’s something that you want, you must be 55 year or older and have at least 300 thousand dollars of assets saved up for retirement. If you’re too young, we can’t help you. You’re in accumulation mode, and we know our limits. We are not accumulators, we are distributors. Though we are good at growing the assets, it’s a different stage of life and our company is not build to support those people and we don’t want to be a jack of all trades. If you don’t have at least 300 thousand of assets, it is very difficult for us to help you because we are optimizing the distribution of your assets. If you don’t have enough assets, our services can’t really help you. We have a range of people, some have 300 to 500 thousand of assets.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:22:10]
MIKE: And we help you and it’s a great conversation. We have another range of people that are about a million to 1.5 that come in the door and it’s a great conversation, there’s a lot of value we add. And then there’s a lot more conversations that we could have because there’s estate planning. There’s legacy planning, there’s other aspects here and then we have those who are 10 to 20 million that come in through our door and tax minimization is one of the biggest conversations we want to have with you.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:22:35]
MIKE: And the reason why is, we’ve developed tax minimization strategies I have yet to see in another financial planning office. The reason why I’ve yet to see it, we’ve developed it, it’s kosher with the IRS, but we’ve saved people seven figures by the planning that we’re doing for those extremely high net worth people. Whatever category you’re in, all we care about is that we can help you plan for a safer retirement and not live in fear but you can spend the next 30 years with your own Manifest Destiny to enjoy yourself, your spouse, your significant other, your family, your friends, how you want to do it with your terms.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:23:15]
MIKE: You can go to deckerretirementplanning.com, you can sign up there, you can also call right now if you want. If you’re driving or out in the wilderness camping over Labor Day weekend, you can call 833-707-3030. That’s 833-707-3030 and you can get on the phone, they’ll gather your information so on Tuesday, we’re closed on Monday. On Tuesday, we’ll reach out to you, schedule the time for you to come in to visit with us and we can have a wonderful, productive conversation about your retirement. It’s at no cost to you folks. No cost to you but the value is two thousand dollars.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:23:55]
MIKE: Or more. Frankly, more because of your high net worth, there’s other aspects we’re going to talk about but let’s just keep it at a nice simple average. 833-707-3030, you can call right now or go to deckerretirementplanning.com any time this week. We’ve got some openings in the calendars, not a lot. September, we definitely pick up. Everyone seems to come back from their vacations in August and their calendars do fill up quickly as people are trying to wrap up planning and get things organized before the holidays hit. But call us, 833-707-3030 or go to deckerretirementplanning.com.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:24:31]
MIKE: If you’re just tuning in, this is Safer Retirement Radio. My name’s Mike Decker here. This is a special to you and me, me and you, right now for the next 50, well I guess the next 45 minutes, maybe 30 minutes because we’re running out of time. But there’s one aspect here I really want to focus on. And for my podcast listeners, thanks for bearing with me. I do a call to action once in a while, invite people to come in because on the radio, people are only listening for about 15 minutes or so. But for my podcast listeners, you guys get the meat for the whole hour or so.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:25:05]
MIKE: And if you’re on the radio and want to catch all the meat here, you can always subscribe. iTunes, Google Play, wherever you get your podcasts. Transcriptions are even on our site, deckerretirementplanning.com. But I really want to talk about fiduciaries and this definition here. And the reason why this one is particularly of interest to me right now is because of the smoke and mirrors that plague the financial industry. I want to openly admit that I understand that the three most distrusted professions are politicians, attorneys, and financial advisors.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:25:45]
MIKE: And why do you think that is? Because there’s a lot of financial advisors that are commission-based. They’re good people but commission-based may not have the knowledge or the resources to give you the information and the recommendations that you need. And it’s appalling to see what happens behind the scenes here. Now, the buzzword I want to talk about is fiduciary. Fiduciary means that you’re legally bound to do what’s in the best interest of the client. Sounds nice, right? And there’s a lot of people that claim to be fiduciary.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:26:15]
MIKE: According to Tony Robbins, I think his research initially said about 30 percent or so of all financial professionals are fiduciaries. And then he found out, and I love watching the clip, he was on an interview talking about his book, and you could just see the disgust for a moment when he realized most of those financial professionals are dual-licensed and use dual-hat disclosures and say, well as a fiduciary, this is what you should do. Now as a broker, or your salesman, here are some options that I can do and they go back and forth. Dual-hat disclosure.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:26:50]
MIKE: How is that a good situation? That’s like walking up to a Jeep dealership and saying yeah, I’m a Jeep dealer but you really ought to buy this Toyota over here actually. And they actually work for Toyota as well. Doesn’t make sense. Can you imagine if, this is a bit silly but, if someone knocked on your door and said they worked for Dish Network and Direct TV? They’re competitors. How in the world are they going to work together? The conflicting bit is quite shocking but it happens often in the industry.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:27:25]
MIKE: Only 1.6 percent of all financial professionals, according to Tony Robbins’ research, are actual fiduciaries. I call that a purebred fiduciary because there’s no dual-hat, they just are. Purebred fiduciary. 1.6 percent of all financial professionals. That doesn’t mean that who you’re working with is a bad person, I’m not making that claim at all. What I’m saying is that they may be set up in a situation to where there is a conflict of interest that may prevent information from getting to you that you might like to have.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:27:57]
MIKE: Now I’ve been accused of saying that we are the only fiduciaries out there. That’s not the case. We don’t make up 1.6 percent of the entire financial profession. Not at all. But I do want to point out here a few other things. Even though you are licensed and set up professionally to be a purebred fiduciary among the 1.6, kind of feel like an Army commercial. The few, the proud, the fiduciaries.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:28:30]
MIKE: Let me give this analogy. Just because you have a hunting license doesn’t make you a good hunter. Just because you have a fishing license doesn’t make you a good fisherman. There’s enough people out there that got driver’s licenses that probably shouldn’t have gotten a driver’s license. Just because you’re set up to do so doesn’t mean you can do effectively. A client recently mentioned, this was a phone call that happened two days ago, he said, you know, honestly, I feel fortunate to be with you guys.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:29:00]
MIKE: I came across an advertisement, went to one of your dinner events, liked what I saw, I came in the door, and I said, you know, and started the planning process. We had great conversations, and it was very pleasant, very fun, very informative. Research-based, math-based, principle-based, that’s a good situation. He said, well, you guys have talked a lot about fiduciaries, so I went out to another couple advisors during the planning process who claimed to be fiduciaries, and they were. They were set up as fiduciaries, and he said it was interesting. They were fiduciaries, but they were really pushing one or two things the whole time. They didn’t really talk to me about all the other aspects that you guys were talking about. They didn’t really treat my retirement as a whole.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:29:40]
MIKE: They treated my retirement as in, hey, here’s a really good investment. Seems a bit odd, doesn’t it? Seems a bit odd. I’m not going to comment though and speak for other firms. But I do want to talk about the extent that we go to here at Decker Retirement Planning to hold up our fiduciary responsibility of which we take very seriously. Check this out. So we’re in multiple states, and so I acknowledge that having the size our firm does lend a benefit.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:30:17]
MIKE: We can have a few extra staff as resources. I have two full-time staff that do research on the best products, managers, and investments out there, and we get together regularly to assess them and the clients that are currently going through the planning process or our current clients and what is best for them. Two people. Group of five then get together and talk about it. That’s a resource that’s pretty incredible. I don’t know of any other firm like ours or an RIA, Registered Investment Advisory firm, that’s doing something like that.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:30:57]
MIKE: And we’re talking everything from the principle guaranteed accounts, risk accounts, whatever it may be. And we even do the research on the terrible accounts so when they come in the door we can recognize them. Had someone that had an income annuity that had a cap of two percent, as they can’t make more than two percent, and then they turn an income rider on. And it was just a disaster. Thank goodness they didn’t turn the income rider on and were able to 1035 that out to a better product.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:31:27]
MIKE: We’re working with what we have here. But when it comes down to it, research is key to be able to give you a right recommendation. We’ve got two full-time staff doing the research. We wrote our own algorithms to give clients more clarity and transparency on their retirement plan because the pie chart just wasn’t cutting it. Now if you’ve been a long-time listener, you know I call the pie chart the pie chart guesser because that’s essentially what’s happening. The pie chart is created by a suitability questionnaire that you filled out so now you can’t sue the person that invested it for you because you created it.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:32:00]
MIKE: And then you’re supposed to just take four percent from it every year or roughly speaking whatever the going rate is. It doesn’t sound at all like a good retirement plan ‘cause you have a flexible rate of income on a fluctuating account that isn’t accounting for your financial situations, cost of living adjustment, or tax burdens, RMDs, or whatever else that happens. I say whatever else but all the things that happen in retirement, in the years to come. It’s a great plan if you want to just wing it through retirement but our clients, they like to have deliberate, detailed planning.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:32:40]
MIKE: With some flexibility. And there’s some flexibility here because we can adjust it. The part that’s most important though is that you can see down to the month and that impacts how much you can spend for as long as you live. Who else is doing that? I only know of one other firm that is doing that and they’re in Washington. We’ve had people in other states take our plan, our Safer Distribution plan, and hand it to our competition and say, recreate this. They say, we won’t. Stunning. Why wouldn’t someone want to have that sort of clarity in their retirement plan? We wrote our own Social Security optimization because what we found was incomplete data.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:33:20]
MIKE: And it was favoring either social security independently or the idea that social security is going out or that we’re going to inflate the assets and have the most assets invested in retirement and lean on social security when filing at 62. Both answers are typically actually inaccurate, and both answers are typically, what they mean is, you’re leaving thousands of dollars on the table. Math-based, principle-based folks. What kind of fiduciary, someone that claims to be a fiduciary, that’s going to this kind of extent here? We pay for an expensive subscription by the way to Theta, TimerTrac, Morningstar. These databases to find the best managers for retiring. There’s no ego here.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:34:00]
MIKE: Am I going to stand before you and say I am the best security investor that you’re going to find? No, I’m not. There’s not a chance. I’m good but there are some people that have some incredible tools and knowledge and Ph.D.s in this. I don’t have a Ph.D. and I have no problem calling them and saying hey, you’ve got some great algorithms here. You have a math-based system, quantitative models, that tell you what to buy, when to buy, and when to sell.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:34:36]
MIKE: We want our clients to have access to this and then we negotiate that. Depending on your asset size and you’re suitability, we’ve got six or seven of these managers that are available to you. They’re diversified by sector so we’ve got some in the NASDAQ, in the S&P. We’ve got some with gold and silver, precious metals. We’ve got oil. We diversify in such a way that when it comes down to net of fee performance, it’s around 16 and a half percent since 2000. I’m not claiming to be this smart.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:35:10]
MIKE: I’m saying as a fiduciary it makes more sense for me to try and pound my chest and say I’m really smart. I’d rather just get the best guys who only work with three to four million dollar clients or RIAs exclusively and get them to all of our clients that are here. We have some clients that only have 300 thousand of assets. I shouldn’t say only, that is an accomplishment and there happily retired. But they’re having the same access to the guys that have millions of dollars. Sounds about right.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:35:40]
MIKE: Doesn’t it? When I say we take our fiduciary responsibility seriously, I can’t say it enough. We take it extremely seriously. Here’s why I’m passionate about the topic, I’m not going to talk ill of particular companies but I am going to mention two examples here real quick. There was a company of someone who had come into our door. Now they were and are fiduciaries, but they were putting their clients in reverse mortgages. These clients didn’t need to be in a reverse mortgage. A reverse mortgage is a hail Mary, there are no other options available. And even then, there might be some options that aren’t thought about.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:36:21]
MIKE: But they’re paying pennies on the dollar or getting pennies on the dollar for their houses. Their nest egg. Drove me crazy to find this out. Another firm here we have found was putting people in a lot of these income annuities, locking up their assets, no plan for emergency or discretionary cash, or long-term liquidity needs or flexibility. The guy said, hey I’ve got to buy a new roof and probably replace my car within the next two years or so and we were talking with him and we said, you don’t have the liquidity. You can’t do this. You need to take a loan on your own house or something else or take penalty fees because these guys set you up.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:37:02]
MIKE: Now these are people that are technically fiduciaries. They are qualified to be so and they completely neglected the clients needs. How does this happen? When I said just a moment ago that financial professionals are among the distrusted industries, it’s stories like this that plague our country and cause people to think that way. I don’t blame them at all. Everyone that walks through our door that’s skeptical, I feel for you. I want you to openly admit that, that’s perfectly okay.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:37:39]
MIKE: I’m not here to sell you some idea. I’m here to present a math-based, principle-based approach. Present the data as it is, and then ask you how do you want to proceed. You should have the power to decide what’s best for you and not be manipulated into these parlor tricks of situations here. Now let me tell you about, and again I’m just presenting it as it is, when I say we take our fiduciary status seriously. Here’s how we treat our clients. At Decker Retirement Planning, we have our planners, they’re purebred fiduciaries, they’re Series 65 licensed. They don’t have the Seven or the other licenses that do security commissions.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:38:16]
MIKE: So they’re not going to recommend a mutual fund, like a C-share mutual fund that has hidden 12b-1 fees. They can recommend a no-load mutual fund because it doesn’t matter. We don’t get paid on security commissions. Saves you a lot of money. Our planners are able to then come in and they present the data as it is. And sure, we’re professionals and we’re going to make recommendations but as the conversation unfolds and we find our your specific needs, we’re able to hone in on whatever is best to you.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:38:54]
MIKE: And we’re licensed across the board to be able to have these conversations. For example, as a company all of our planners are license to sell long-term care insurance. The problem with long-term care insurance is if you can afford it, you don’t need it and if you need it, you can’t afford it. We have never sold long-term care insurance. But we’re licensed to do so because as a fiduciary we should have the access and ability to see what’s going on in that investment industry. Now insurance products are another topic for another time. The point of the matter is though that our planners are able to have these conversations about all the topics that would concern your financial stability in retirement planning.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:39:42]
MIKE: With that, we’ve developed our own underwriting system so the planner who’s getting the suitability, understanding your situation, can’t be emotionally compromised to fudge the numbers or tell you unrealistic expectations. They have to work with someone in our back office who then puts the plan together with the planner and is constrained by math-based, principle-based guidelines. When I say constraint, we’ve customized every single plan but we’re not going to show a plan that puts all your assets at risk and probably won’t work.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:40:17]
MIKE: We’re legally bound to do what’s in your best interest. That’s a liability. So we’ve got to have a second set of eyes on this as you’re going through the planning process and both of them work together to find whatever is in your best interest. And we’re not being subjective about it, this is math-based, principle-based planning. After a few times that it happened, we’ve had the conversations with a group of people that are specialists to also have the conversations about your tax burns through the years. We want to include your travel year expectations, as well as your casual year expectations later on in life. We want to make sure you’ve got a smooth cost of living adjustment that accounts for the lifestyle that you plan to live.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:40:57]
MIKE: We want to make sure that you can account for the special situations like that sailing story I was talking about earlier. RVs traveling the nation. Whatever it is, we need to be able to account for that and then create the plan that is unique and perfect for you. Based on all the information that we have, it’s wonderful. Who does this? Really? It’s like Jerry Seinfeld saying that. Really? That’s my impression of Jerry Seinfeld by the way. But when we feel like the plan is perfect, great. The planner signs off, the client signs off, which is most important. The client likes and loves what they see. Back office says okay this is good.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:41:40]
MIKE: Then we have before we implement it, a senior member of our staff go over everything as well. Because it doesn’t hurt to have another set of eyes putting together a retirement plan. And it’s very rare but once in a while, we will make a few other tweaks just to make sure that we’re helping our clients enjoy a safer retirement. Let’s not play retirement roulette, okay? Once we implement it, then they’re passed off to work again with the planner.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:42:10]
MIKE: The relationship’s always with the planner but also have access to our full-fledged servicing team who’s going to help you with your RMD, your required minimum distribution, throughout the rest of your life once you’re 70, 70 and a half, depending on how the regulations change it. Income adjustments if need be. We have a couple of clients that say hey, we don’t need all this income, let’s do half right now and if we want to up it, we can. And then they might say, hey let’s up it, and then they raise it, they lower it, it’s all within their plan constraints and it’s great. Emergency events, we have those. Hey, we’re in the hospital, we need 30 grand right now. We get it to them next day. We help with all that.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:42:46]
MIKE: Instead of having to call, you know, your custodian, your bank accounts, or things like that, you can just call us and we can help you with this. We’re meant to help you, support you, throughout your retirement. It doesn’t make sense for a fiduciary to set everything up and then say goodbye, good luck, have fun. No, like Sherpas, we want to be with you every step of the way. Tax minimization, tax laws are going to change. When you consider our tax situation, historically we’re pretty low at the tax rates but that’s all-time high. What do you think is going to happen.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:43:21]
MIKE: There’s probably going to be some tax reform that happens throughout the years and when that happens, we need to be able to adjust for that each year. Our servicing team is able to help with those tax minimization strategies. I talk fast. If I’m talking too fast, go to deckerretirementplanning.com and catch the transcription. A lot of words there, but hopefully you can enjoy the study of it. IRA to Roth conversions, big part of retirement planning. As well as checking up on your will, power of attorney, and trust documents. We’re not lawyers, but we want to make sure that your documents are in order for whenever that day comes.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:43:56]
MIKE: And your beneficiaries, making sure that the beneficiaries are in order to your wishes and so much more. This full fiduciary service is a rare bird, who does this? Really? I don’t think most people realize how much we do at Decker Retirement Planning but we are certainly not just your everyday RIA, Retirement Investment Advisory firm. We’re not your everyday retirement planner. There is a lot that goes on to build a safer retirement. And when it comes down to it, on Labor Day, I want to celebrate the Labor that you have done your entire life. You’ve contributed to this great country. You’ve contributed to your friends and your family.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:44:38]
MIKE: You’ve worked your whole dang life. You shouldn’t be scared by the economic situation that’s happening that causes you to labor more than you want to. A day of rest is well-deserved, especially if you’ve saved the assets and stop living in fear. Let’s calculate down to the month that attacks how much you can spend and then you can decide when you want to retire. It depends on how much you have and how much you need to spend on a monthly basis, on a yearly basis, whatever you’d prefer. But what you can see down to the month and that of tax as opposed to the pie chart guesser. It’s a life-changing conversation. This is how we can take different people and their situations and help them retire years before they thought to.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:45:19]
MIKE: Remember early in the conversation I said, oh there’s articles saying don’t ever retire, don’t retire early? Well why not if you can? Why not? The introductory visit that I was talking about is two thousand dollars typically. That’s how much that goes into it. Why does it cost that much? Because we build you a safer distribution plan after we understand your situation and unique wants. A safer distribution plan, we developed it, these are algorithms that I wrote, and they calculate down to the month that attacks how much you can spend and it gives you clarity until age 100 or whatever you decide. That’s something that’s incredible.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:45:57]
MIKE: That’s something that puts transparency so you can plan your trips in five years and in 10 years and if the market crashes, well that sucks. But it helps your situation because you can sail through it unaffected because you’re following the principles that govern proper retirement planning. Let me say them real quick. I can’t believe it, we’re 40-something minutes in the show and I haven’t even mentioned the principles that govern proper retirement planning. They are first, never draw income from a fluctuating account. So all you folks that are putting all your assets into stocks and using the pie chart instead of accumulation mode, there’s something called sequence of return risk and it’s extremely risky.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:46:37]
MIKE: Especially if a recession is looming. Sure it compromises your gains on the up years but it accentuates your losses in the down years and that is the killer right there. That’s why so many people lost their retirement in 2008. Their income was too expensive at that point. Sure market’s recovered, but a lot of them did not and it was extremely unfortunate. The second principle that governs proper retirement planning is diversify by purpose, not just by risk. When I say that, I mean you’ve got to have some liquid assets that are principle-guaranteed, set aside for rainy days or emergencies.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:47:18]
MIKE: You’ve got to have assets that are going to provide your income and these are from assets that are principle-guaranteed and can grow. You can’t have it all but you can diversify these assets and stagger them out for the next 20 years or whatever your timeline may be. But when the markets crash, or the politically-correct term of correct, you can sail through it unaffected. Our clients, who experienced 2008, didn’t have to change their travel plans. Why?
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:47:48]
MIKE: They followed this principle. And then for all the clients that have the time horizon and suitability to do so, it’s quite appropriate to have liquid assets that grow. These are typically securities, mutual funds, ETFs, stocks, and so on and so forth. You should have that available to you, it’s very appropriate. And it’s done correctly. Third principle, have a distribution plan, not the pie chart guesser. See what your retirement looks like.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:48:15]
MIKE: Math-based, principle-based, that’s the kind of clarity that’s unparalleled to the pie chart and it’s quite remarkable. For all of you listening that are trying to imagine what this is and having a hard time, I get it because it’s new and you probably have never actually seen one before. It is hard to imagine. I would implore you, go to deckerretirementplanning.com and click on the Decker Review. Sign up, it costs you nothing.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:48:45]
MIKE: But see what else is out there. At the end, we say how do you want to proceed? You’ve got the power here but the knowledge is incredible and incredibly enabling and over-accomplishing. Now those are the three principles that govern proper retirement planning but in this introductory visit as well, we give you also our Social Security Optimization report. What most people don’t understand, including financial advisors. Is that if you file too early, your income in hurting but if you file too late, you’re hurting your estate.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:49:15]
MIKE: And the absolutes of 62 or 70 and which one is best is ludicrous because your situation and your time frame is unique and to think that you’re supposed to end at one end of the spectrum or the other and that’s the right answer, flies in the face of mathematical intelligence, I should say. If you file too early, your income is hurting, if you file too late, you’re hurting your estate. Let’s run the numbers and see exactly down to the month when you should file.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:49:49]
MIKE: From there, we want to have a glimpse of a safer tax plan and sure there’s some important tax minimization strategies like your 1040 and reviewing that. Making sure you’re not paying taxes on assets that you’re not even seeing. As well as you’re doing your IRA to Roth conversions to minimize your burden of the RMDs that hurt so many people after 70 years old. But we’ve got some other ones too that are proprietary, we want to talk about them in person because they are very complicated and it helps to explain it in person, that saves people six and seven figures. Yes, I did say seven figures.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:50:22]
MIKE: If you have over 10 million dollars, and you want to save seven figures, I would implore you to come into our office so we can show this to you. It’s life-changing. Think of your beneficiaries and what that would do for them and the legacy that you can leave with these strategies. They’re all kosher by the IRS, by the way. You never, ever want to challenge the IRS on how they interpret things. It just doesn’t make sense.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:50:52]
MIKE: We want to play ball with the rules that are established. And there’s a number of other things that we’re going to do on the visit. See the managers that we recommend that yes, have been averaging around 16 and a half percent since 2000. Who’s done that? And answer other questions that you may have concerning retirement. Yeah, all of that, it’s a value of about two thousand dollars. But you know what? When it comes down to it, we’re going to do it at no cost to you right now. It’s still going to cost us to develop all that, do that research, to run the numbers. But we’re going to do it at no cost to you.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:51:24]
MIKE: If you are 55 years or older, and have at least 300 thousand of assets saved up for retirement, here are the rules of engagement. You can call us at 833-707-3030 any time this weekend. We’ll gather your information on Monday and reach out, or you can go to deckerretirmentplanning.com. On the website, you’ll click on Get Started at the very bottom of the page for the Decker Review. Fill out a few forms right there, it’s pretty simple.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:51:54]
MIKE: And then on Tuesday, we’ll reach out to you as well. We can have a wonderful conversation about your safer retirement. Like I said if you’re 55 years or older and have at least 300 thousand of assets saved up for retirement, it’s at no cost to you, value of two thousand dollars but we’re going to go over all those things I just mentioned. But the rules of engagement are one, don’t bring your checkbook, it doesn’t cost you a dime to sit down for this 90-minute deep dive visit. Number two, no financial decisions are made. The purpose of this visit is to continue your research and education on retirement planning.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:52:30]
MIKE: At the end of the visit, we’re going to say based on the research, we’re going to create your plan now that we understand your retirement part. Keep in mind, we can’t open this visit, open this research and say now here’s your plan, who are you again? That doesn’t make sense. It’s premature, and it would be sloppy to say, well we don’t know you but here’s the plan we’re going to recommend. No, we’re going to go through the visit, after the visit, then we can put together your Social Security Optimization and your Safer Distribution Plan.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:53:00]
MIKE: And you’re going to get those whether you come back in or not. Most people will come back in for a second visit to review it in depthly, that’s up to you. At the end of the conversation, what we say is, how do you want to proceed? Would you like to come back in? Would you like to go over it now with all this information? We can run the numbers. Doesn’t cost you a dime. But we can run the numbers and show you down to the month and that attacks how much you can spend should you retire today. Or maybe you say no, I want to retire in five years.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:53:30]
MIKE: Regardless if I can’t retire today, okay we’ll run the numbers. Those numbers are critical to your success though. And then we talk about social security, then we talk about tax minimization. All of that happens at no cost to you. Call us at 833-707-3030, or you can go to deckerretirementplanning.com. Click on Get Started on the bottom and it’ll take you through the quick little questions that we got for you before we schedule our visit.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:54:00]
MIKE: And we’re closed on Labor Day so on Tuesday is when we’ll be reaching out to you. Our schedule is filling up because a lot of our people that are planning with us are coming back from vacation but we’re going to do our best to be able to fit our time in here. My name is Mike Decker from Decker Retirement Planning, this is Safer Retirement Radio. I really hope that you’ve enjoyed a very heartfelt special this week on Retirement Radio. That you can feel the passion that we take our fiduciary responsibility very seriously and that through and through we’re not going to pressure you into anything.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:54:32]
MIKE: We want to present the data and let you have the power to do what’s in your best interest. You should always be able to have control of that power regardless of who you work through or work with. On our website we’ve got a number of articles, e-books, how-to guides, a whole slew of information. You can catch the transcription of this show and so much more. You can subscribe to our newsletter.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:55:00]
MIKE: There’s a lot of content on there and it’s all for you to enjoy. The content is not pressure, it’s just education, education, education. Research, research, research. We want to show you our weekly Safer commentary on our opinion on the markets. We want to show you the principles the govern proper retirement planning so you can, in a safe space, think about it and put the lens over your current plan and see where the holes may be. Whether you work with us or not, I hope that at least you’re given the tools to be successful. That you understand the principles that can help protect you from the pitfalls that many retirees face.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:55:40]
MIKE: And that most of all, you can treat your retirement, which is finance, math-based, two plus two is always four. So why should you speculate so much with a pie chart guesser or an idea that the economy should do this over the next X amount of years. Should-ing is guessing, it’s an assumption, and it can cause a lot of stress and anxiety. I’ve got just a couple of minutes but I want to share this story real briefly.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:56:10]
MIKE: Had a client in Washington come in that was retired and spent most of his days in front of the computer, worrying if he could stay retired. He came over to us and his wife cried out of joy because for the first time, his wife, or this wonderful lady said, I have my husband back and we can now finally enjoy our retirement. And they spent the next year in bliss and it was wonderful. The husband had a medical emergency and is alive and slowly recovering. But at least they had a year together and enjoying themselves.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:56:46]
MIKE: And he’s slowly recovering and is now cognizant, but can you imagine, the person managing your finances or someone doing it yourself or someone that has a medical emergency and now you’re just going with the wind? Or whatever may happen. That’s incredibly stressful, and it’s like trying to do one of those escape rooms or a maze in the dark. We should not live in that kind of fear, in that kind of anxiety.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:57:14]
MIKE: You’ve worked so hard your whole dang life to be able to get to this point and enjoy yourself. That’s what we’re trying to accomplish and why we hold our fiduciary status so seriously and why we go to those extra measures to give you not only the transparency that you deserve but ultimately a safer retirement. I can’t say it enough, but we’re extremely passionate about it. In the spirit of Star Wars, I know there’s a new Star Wars series coming out. I kind of felt like we’re a little bit like the Rebel Alliance taking on the establishment.
RR S3 E12 SPECIAL EDITION ON WHAT A PUREBRED FIDUCIARY IS [00:57:44]
MIKE: But it’s because we’re tired of people getting bombarded by manipulation. Check us out at deckerretirementplanning.com. Do more research. It’s all for you, full access to you. I’m Mike Decker, this is Safer Retirement Radio, thanks for tuning in today, everyone.
