Breaking Bad (Financial Habits)

Episode 16: Audio automatically transcribed by Sonix

Episode 16: this mp3 audio file was automatically transcribed by Sonix with the best speech-to-text algorithms. This transcript may contain errors.

Speaker1:
Any examples used are for illustrative purposes only, and do not take into account your particular investment objectives, financial situation or needs and may not be suitable for all investors. It is not intended to predict the performance of any specific investment, and is not a solicitation or recommendation of any investment strategy.

Speaker2:
Welcome to Take Pride in Retirement, the podcast dedicated to helping members of the LGBTQ plus community protect and grow their hard earned money. Get set for a show full of education and insights with your host and advisor, Matt McClure. We recognize every family is unique. The goal of the show is to help you achieve financial freedom so you and your loved ones can have the retirement you've always dreamed of, a retirement you can take pride in, no matter who you are, where you're from, or who you love. So now let's start the show. Here's Matt McClure.

Speaker1:
Hello and welcome once again to take pride in retirement. I'm Matt McClure, your host, your advisor, your friend, your pal, your buddy, your, uh, your your cohort in making your life better from a financial standpoint than it is right now. That is the goal. That is what it's all about. And I'm so glad that you are here with me along this journey. Really do appreciate you. And, uh, you know, because, hey, if you're a listener to this show and you've been listening for a while now, it'll be a year that I've been doing this, uh, before too. Too long. If you are a listener to the show and you've been listening for a while, you are just a part of the family now, and you are the reason why this show is here. Without you, there is no show. So there you go. Uh, it's it's pretty much that that simple, that easy to comprehend and to understand. Uh, I thank you so much again for being a part of things today. Great show, great content. Uh, for this particular week, if I do say so myself. Put together a gem for you folks. And, um, it's some bad financial habits to break now. And also going to talk a little bit about the importance of financial literacy and how much it is lacking in this country. Um, the whole point of the show, by the way, as you heard that was that was my husband, Josh, who does the voice over announcement for us to start the show every time we come out with a new episode, uh, as you heard there, the whole point here is that no matter who you are, no matter where you come from, no matter who you love, no matter how you identify, no matter any of that.

Speaker1:
You deserve a retirement you can take pride in. And that is my pride and joy. Really. It's why I do what I do. I wanted to do this specific thing for my community that's given me so much. This is my way to give back. And I really hope that you get something out of it each and every time we get together like this. And you can also, you know, in between shows, if you miss me that much, you can go to take Pride in retirement.com that once again is take pride in retirement. All one word.com and that is the website for the show. Feel free to go there at any time and you can get some more information. Watch some videos. You can also get highlights from the show. A past episode, complete past episodes of the show are all on there as well. So a lot of great stuff there at Take Pride in retirement.com. If you want to reach out to me, you can do so at Matt at Take Pride in retirement.com Matt at Take Pride in retirement.com. You can also give me a call the number toll free 855246 9211 (855) 246-9211.

Speaker1:
That is the number to call. And please do it because I would love to hear from you. And I would love to help you out because I just absolutely love meeting with people. Who are, you know, part of the LGBTQ+ community or not? Um, whatever your situation is, because I remember I said, no matter who you are, no matter who you love, this show is, of course, geared toward LGBTQ+ folks, but. If you're an ally, if you're someone who may be on the periphery of the community in that way, then I would love to meet with you as well and discuss how I can help you reach your financial goals, because you know it can help with retirement planning. It can help with things like risk management, estate planning a whole lot more, and build a financial plan that is sound and it's tailored to your specific needs. So once again, take pride in retirement. Dot com is the website. Well coming up in just a couple of minutes here. Five bad habits that can cost you thousands every month and how to avoid them. We want to avoid those habits that actually cost us money. Uh, because, hey, it's your money. It's your hard earned money. You don't want to be in a place where you are struggling because maybe you have a great income, but what's going out of your account of your month is just too much.

Speaker1:
You're either living beyond your means. You have expenses that don't need to be expenses, that kind of thing. We'll talk about some of those habits and how to avoid them. We'll also do an inflation demonstration here on the show today, and talk about some ways that people are cutting back, uh, fast food spending is the latest here that will highlight. And it is an inflation demonstration to to highlight that particular illustration. It's an inflation demonstration as an illustration. How's that for a, uh, tongue twister here for you? And she sells seashells by the seashore. Um, and Peter Piper. Okay. Never mind. Um, but it's an inflation demonstration. We'll talk about that. And we'll also go into detail about how inflation really impacts your retirement. It's not just an impact on like what you're paying today. If you go to the McDonald's or to the Starbucks or wherever, it also is all about how it affects you in the future and how future you would appreciate some planning going into the whole scenario. Now to avoid those problems later, right? Also, talk about financial literacy and a new study from the World Economic Forum that shows that Americans have a lack of financial literacy and how you can gain some financial knowledge. Bunch of great stuff coming up here, folks. But first, let's get some inspiration for our conversation with our quote of the week.

Speaker3:
And now for some financial wisdom. It's time for the quote of the week.

Speaker1:
In. This week's quote comes from Leanne Pittsford, who is the founder of Lesbians Who Tech and Allies. It brings together LGBTQ tech entrepreneurs and innovators to work with one another and to network with one another. Um, she's got, I believe, over 40,000 people from about 100 countries through that community. At least that's according to this website, the Story Exchange. And so her quote, Leanne Pittsford's quote is this change doesn't just happen. It happens with urgency. I love that because. For any true change to happen. You know, some changes are more like evolutions, right? They're slowly evolving over time. Um. But some changes like big life changes especially, need to be met with a certain sense of urgency in order to actually have those changes be made right. In order for it to actually go into any type of reality in in your life, it's got to be met with some sort of urgency. And I would say that if we take that and we and we look at those words which I'm sure were not necessarily spoken or written in reference to financial planning for your retirement. Um, if we look at it through that lens, though, boy, does it hit home. Because now, no matter, no matter who you are and no matter how old you are, now is the time. Yeah. I mean, yeah, sure. Yesterday or, you know, ten, 20 years ago would have been even better. But if you don't have a solid financial plan or if you have a financial plan in place right now and you have some doubt about it.

Speaker1:
Now is the time to get a new financial plan in place, or shore up the one that you have to make sure that you have an income that is going to last you the rest of your life. And that is possible not just through something like Social Security, which is a guaranteed stream of income for the rest of your life. Unless, you know, things don't happen and Washington doesn't get its act together and actually shore up the program. Um, but that is one way that's one stream of income. But there are others that we can create as well. And I'd love to to talk with you about that. And of course, once again, you can go to Take Pride in retirement.com or email me Matt at Take Pride in retirement.com and I'll get you set up with a complimentary consultation. No obligation with that as well. So great words there by Leanne Pittsford. Really do appreciate those words. Glad I found them to share for this week because we're talking about making changes in your life. And that quote about making changes and how they need urgency to be made really does fit in well with this first segment of the show, which is five Bad Habits That Cost You Thousands Every month. I want you to listen to these and then act with urgency to change them. Okay. Did you know that there are some common habits? These are very common amongst a lot of people.

Speaker1:
I'm even guilty of some of these. All right. There are some common habits that could be costing you thousands of dollars each and every month. So let's dive in to five of them and show you how you can avoid them and save some serious cash in the process. All right. Number one is not so much something that you do. It's something that you don't do. And that is budgeting. Not budgeting is number one, uh, the number one bad habit here. And a recent study actually found 27% of people don't have a budget or in other words, a spending plan. If you don't like that word budget, a lot of times people think, okay, uh, that's kind of a bit of a five, a bit of a five letter, a bit of a four letter word. It's actually neither of those. It's a six letter word, but, you know, it's the proverbial four letter word. I don't like it. I'm going to avoid it at all costs. But if you want to call it a spending plan, let's call it that, because it may be less intimidating. Um, but budgeting is it's actually or coming up with a spending plan is a powerful tool that can help you keep track of your spending and avoid overspending. Without one, you might just be spending way more than you realize. Chances are, you're going to be spending more than you realize because you're you're not tracking it.

Speaker1:
It's just kind of all a big guessing game. And life. Some things are a guessing game, right? But it your financial life doesn't need to be a guessing game. Because if you want to have a successful future, if you want really to be someone who can retire comfortably and not have to worry about where the money is going to come from or any of the things. Then you will want. To plan. And you part, you know, really starting a plan, the foundation of it is a budget. And that means. That you are probably spending a lot more money than you realize if you don't have one, and it also means it is. Crucial that you do this very thing. Take some time to create a budget and to track your expenses, because it's going to make a big difference in your overall financial well-being as you go forward. Number two, this is one that I really used to be guilty of. Oh, boy. Overusing credit cards. Um, yeah. Credit cards. They're super convenient, but they can also lead to a lot of overspending for a lot of people because. Here's the thing. It's sort of like, you know, you go to the store and you, you swipe your card, you put in, you know, the chip or you tap it or whatever. And that's it. It's very easy to do and it doesn't feel like a lot of effort, a lot of a lot of pain in the moment.

Speaker1:
It's just an easy tap or swipe or, you know, inserting the chip of the card. But here's the thing. It feels easy in the moment, but the average interest rates on the average interest rate, I should say, on credit cards, is about 22% these days, 22%. And that can really add up if you carry a balance, because if you carry a balance on that card each month, will that interest that was charged the previous month then becomes essentially, if you want to think of it like a, um, a loan, uh, you know, in a way that interest charge from last month becomes part of your principal, in other words. And I use air quotes for that. Right. So then the next month, you don't just get charged 22% of what the previous balance was, you get charged 22% if that is your credit card interest rate, you get charged 22% on that previous, um, balance or what that balance, you know, would have been had you, um, not been charged extra interest on it, but you get charged interest on top of the interest as well. So it's compounding and it can really be a snowball effect in the not good kind of way. Right? It just grows and grows and grows. And that's why, uh, Einstein called compounding interest the eighth wonder of the world, because it really can be something that just destroys your financial life, quite frankly.

Speaker1:
And so you don't want to carry a balance every month. What you want to do is limit your credit card use to only necessary purchases. Don't use it as an emergency fund. Only use it if you are going to pay off the full balance each and every month. That's it. Because maybe you have, um, you know, some, some type of rewards program that you love that your credit card enables you to be a part of, or is part of your credit card, you know, account or membership or whatever. Great, grand and wonderful. But you're not going to become rich off points from your credit card. That's not going to happen. So what do you do? Well, what you do is pay off that credit card each and every month. You can still take advantage of those membership and rewards points and all of the things. But you're also not racking up a bunch of debt, and you're also not paying that compounding interest on top of interest, on top of interest each and every month. A credit card is not free money. All right. Pay off that balance each and every month. Future you will. Thank you. Number three bad habit here is dining out. Okay. Look, I love to go out to eat. I don't do it nearly as often as I used to. And for this very reason that we're talking about it, it's going to make your money disappear from your wallet at a much faster clip than eating at home.

Speaker1:
And we'll talk a little bit about dining out or going to fast food restaurants in just a bit, because that's another part of the show is our inflation demonstration in just a few. But dining out. I think a lot of you are probably like me. You know, you probably love a good meal at a restaurant, but the meals really add up. I mean, even if you just go out and you spend like 50 bucks. Between you and your whoever your date happens to be, or your friend or whomever you're you're out with. If you have, you know, husband, wife, partner, whomever, whatever the situation might be, if you go out and you spend $50 between you, that's pretty cheap meal these days at a restaurant. But those costs really add up. If you go out, you know, a couple nights a week, 50 bucks a week, or 50 bucks a meal rather twice a week, that's 100. That's $400 a month. Right. Just for. Just for the two of you. Well, did you know, though, that Americans actually spend an average of $166 a person per person each month on dining out? And that, folks, that's a lot of dough. Food reference there for you. Um, I know I got I'm not really technically a dad except to my dogs, but I got dad jokes. Um, cooking at home, though, can be healthier. I've been an advocate of cooking at home for a long time because you control what goes into it.

Speaker1:
You know, somebody else prepares your food for you at a restaurant. It comes the way it comes. I mean, you can make, um, you know, special requests and all of that, usually for an upcharge, but you don't know exactly what goes into it. And because you're not the one in the kitchen making it right, if you're at home, you're making things from scratch. You control what goes into it so you can make the meals healthier. Right. It's also much more cost effective. A lot cheaper to go buy the groceries, prepare food yourself than to go out to eat. So try to cut back on eating out and start cooking more meals at home, and your wallet will give you a big handshake and a hug and a kiss on the cheek and all that. All right. Number four is paying for unused services. This is the one that I am still guilty of right now, because I'm sure without even going in and looking at my statements or downloading an app that's going to tell me what, um, subscription services I have. And and which ones I need to get rid of. I am guilty of this. I can I can just tell you without even doing all that work, paying for unused services. I mean, think about all the subscription services that you've signed up for. And are you actually using them regularly? You're like, okay, well, I have Netflix and Hulu and Disney Plus and Max and I have Amazon Prime, and I have all of the things I have Peacock.

Speaker1:
I have, um, you know, uh, Paramount plus I have, um, discovery plus I have all, all of the things. Which ones of those do you actually watch? Was it a situation where you're like, oh my God, I love this show so much, I'm going to pay to have this subscription service and, you know, then I'll cancel it as soon as that show is over. And then you forget to cancel it. And then you see that seven nine, nine, nine, nine, 9 or 15 bucks or whatever it is a month coming out of your account. And yeah, that that all adds up over time, especially if you've got two or 3 or 4 of those that you don't really use. And it's not just streaming services. I mean, it could be like, um, um, you know, even meal kits, which of course, that they actually send you physical things. So if you don't use those, then that's just wasteful. But I mean, you know, even like a gym membership or something like that, if you've got a gym membership and you haven't gone to the gym, then cancel the gym membership if it's absolutely possible for you to do that, take a look at all of the subscriptions and evaluate the bang for the buck. And if you're not using them, just get rid of them and then save or invest that money instead.

Speaker1:
That money will do a lot better when it works for you. Earning interest growing. Then it will just disappearing for something that you don't use, right? So cancel those services if you don't use them. And number five here, another big, big, big important one is not investing. It's a big bad habit that could cost you thousands every month. Well you think well man, you know, if I'm not investing, that means the money is not going anywhere. I it's, you know, going to stay in my account and know what's going to happen is you're going to spend it. Right? So if you're not saving it, you're, you're. And not investing it, then you're probably spending it. Saving is is great. But. If you're keeping your money in low interest bearing accounts, like just your regular savings account and your brick and mortar bank. Even a lot of the online banks. You're missing out on potential returns. Big time. Because, you know, investing your money can really help it grow much more significantly over time. So if you've got a long time horizon, that means if you've got more time to go before you reach retirement age, the age that you want to leave the workforce. Then invest more aggressively than someone who may be older, who's closer to retirement, and who doesn't have as long before they want to leave the workforce. They want to be in more safety oriented, safety minded investment vehicles.

Speaker1:
But you, with time on your side, can invest aggressively. And surprisingly, a survey found about 28% of people don't have anything saved for retirement at all. Almost 40% are not contributing to any kind of retirement fund. So don't miss out on the opportunity to build wealth for your future. I'll actually have a bit of a an illustration of this in just a while. That is going to really hammer home, because you don't have to be rich to do this. You're building wealth for your future here. And the little. Bit that you can maybe put aside each and every month. With the power of compounding interest, working in your favor, not against you, like we were talking about a few minutes ago with the credit card situation. If it's working for you, you can really reap the benefits of it and grow some significant wealth for your retirement years. So invest and take advantage of the potential returns there. And by avoiding those five habits, you can make a big impact on your monthly savings and your investment, and you can really set yourself up for more success in retirement. Complimentary consultation is aimed at helping you maximize your retirement savings and giving you the retirement you've always dreamed of. I love doing that. For listeners of the show. Just get in touch. You can go to take Pride in retirement.com. That is take pride in retirement.com. Once again the number is toll free. It is 855 246 9211 855246 9211 is the number.

Speaker4:
Want to know where your hard earned money is going. It's time for an inflation demonstration.

Speaker1:
So people are spending less on a lot of things these days. And one of those things turns out, according to a new report, is fast food. At least CNBC says this fast food chains like Starbucks, McDonald's, Pizza Hut really feeling the impact of a consumer pullback. Starbucks saw a surprise drop in same store sales, leading to a 17% decline in its shares. Pizza Hut and KFC also reported shrinking sales, the competition for customers intensifying as consumers become more selective with their spending. So why is it happening? Well. Prices for eating out at fast food restaurants have risen faster than eating at home. So value is really a crucial, crucial factor for customers. Everybody likes a good deal. Everybody likes a good value. That's why a lot of places have their value menus and their value meals. And we'll talk about that in just a second, too, about how they're responding to this sort of new trend. I mean, I love a good deal as long as it actually is a good deal. But if it's going to be a situation where it costs just as much to go to a fast food chain, and it does to go to maybe a fast casual place or like a slightly more upscale place where it's maybe a sit down restaurant, but it's still it's not super expensive. If it's going to be comparable, then I'll just go to the fancier place.

Speaker1:
You know, you get healthier food there probably. Anyway. But anyway, to combat this decline in sales. Fast food chains are adopting some different strategies here. Mcdonald's plans to create a nationwide value menu, kind of like they used to have, I guess, to appeal to thrifty customers. That could get some blowback from franchisees, though, because of the impact on on profits. Starbucks focusing on deals, they plan to release an upgraded app, allowing customers to order pay and get better discounts there. That will be helpful because, you know, Starbucks has gotten pretty expensive these days. And the industry is hopeful that sales are going to bounce back. It remains to be seen, though, how long it's going to take. And that really brings home the fact that, you know what? It's not good enough to be a good income earner and a good saver anymore. You need to have a plan in place. No matter what your situation is and no matter who you are, you need to have a plan in place that's going to stand the test of time. No matter how much prices rise in the future. Get in touch. A complimentary no obligation consultation you can go to take Pride in retirement.com to get started. And you might say, well Matt, how in the world does paying a bit more for my Starbucks or my McDonald's or whatever impact my retirement? Well.

Speaker1:
Of course, inflation has been on everybody's mind for a couple of years now. Gas prices rising, food prices rising. As we were just saying, housing just about everything else on the rise. But, you know, inflation, aside from being around for just the past couple of years, is actually a long standing economic factor that we can't really avoid. When it comes right down to it, the difference is, the difference now is that it's usually a lot more subtle, driving up prices slowly over time instead of being so stark and so drastic as it has been these past couple of years. Um, especially at times, you know, we're up above 9% inflation. Luckily, it's come down from there, but it still. Really. Wreaking havoc on people's finances because we're paying so much more than we did just a couple of years ago for the things that we are buying. And inflation can, yes, really mess with your retirement. Let's take a look at Social Security, for example. If you're a Social Security beneficiary, will those benefits are supposed to be adjusted annually to keep up with inflation. Historically, though, those adjustments have not been enough. And that means that seniors end up losing buying power year after year. Your retirement savings, then, you know, even if you manage to save up a good amount of money in your 401 K or your IRA. If your investments don't keep pace with inflation, your savings are not going to stretch as far as you'd hoped.

Speaker1:
When it's time to use them, you won't have as much money in, um, dollars at that time, because if the dollar doesn't go as far as it used to. Then if you compare that to where we are now, you might as well just put it in a sock drawer or something, you know? So how can you avoid those issues, those potential pitfalls? Of saving and investing for your retirement. Well, number one is what I was talking about a little bit ago. Invest your savings aggressively when you're still young. And I'm and I'm talking about young being your, you know, 20s, 30s, even 40s like I am now. 50s as well even. Invest more aggressively when you've got several years to go for your retirement, and it can be scary to put. I'm not going to sugarcoat it, because it can be really scary to put money into stocks or a lot of it anyway, because markets can be so volatile. We've seen that this year. We saw it last year, the year before we saw it, of course, certainly right around the time of Covid. We saw it in 2018 as well with some stock market volatility, then huge swings in the stock market in 2018, which a lot of people seem to have forgotten about at this particular time in our history.

Speaker1:
But if you take the risk, especially over the long term. You could get a higher return on your investment, and that means you'll have more money when you retire. And when you have plenty of time, years and years and years and years and years and decades to ride out market downturns that might happen along the way, you're set up for success. Because over time, markets grow. That has been the case for generations and generations. So let's say as an example, you contribute $400 a month. $400 a month to a retirement plan for 40 years. If you get an average annual return of 8%, which is just a bit below the stock market's average. But if you do that, if you get an average annual return of 8%. Even though it's below the stock market's average when it comes to time to retire. Over those 40 years, $400 a month, remember, turns into $1.2 million by the time you retire $400 a month. Even if you go for a more conservative 6% return, you'd end up with around $743,000, which is nothing to sneeze at. Now, you know. Pretty nice sum there. But it's not as much as 1.2 million, which is almost twice what we were talking about there. So if you're more aggressive, if you invest more aggressively when you can. Then you'll be set up for much more success.

Speaker1:
And that's what I'm talking about by you don't have to be rich to build wealth. $400 a month. That's a cheaper than a lot of car payments these days. So, you know, if you have your car paid off. Then take whatever that amount you might have been paying on your car every month and put that towards your retirement plan. Just do that every month. And that'll give you in this case, if it were $400 a month over 40 years and an 8% rate of return 1.2 million. Plus by the time you retire. Now, when you get closer to retirement, of course you'll want to move more of that money into safer investments, but ones that still offer market like gains. So you'll want to consider investing in something like a fixed indexed annuity, for example, to eliminate market risk on that portion of your portfolio because with an annuity. Those. Gains are locked in year to year. Right? So here's here's how it happens. Here's how it works. You experience gains that are linked to a market index. The money is not actually in that market index not invested in a fund or anything like that. That's part of that that that tracks that market index. It's a completely separate thing. So your money is not actually in the market. But what it does is it tracks that particular market index and you get a portion of those gains.

Speaker1:
So when that index goes up in value, so does the value of your annuity. Here is the great thing when you're safety minded as well. Because when that index goes down like say if you were in a fixed indexed annuity back in 2008. And. That index, or that the index that it was tied to, rather was the S&P 500. Well, if you, you know, were invested directly in the S&P 500 or a fund that mirrored the S&P 500. Your value would go down by 50% at that point because of the market downturn. And of course, the things that led to the Great Recession and all of that. But. If you, on the other hand, were invested in a fixed indexed annuity that track the S&P 500 not actually in the S&P 500, but attract a fixed indexed annuity that tracked the S&P 500. Good news for you because there is a flaw. Whatever gains you had the last time the crediting period ended, whether it's, you know, year to year, month to month, whatever it might be, those gains are locked in. So your index, your the value of your annuity rather cannot go down following that index. Zero is your hero. That's why we say that. Because while everybody else is licking their wounds after losing 50% of their investment, you're sitting pretty with zero loss at that time.

Speaker1:
Right. So it's a great, great tool to get market like gains without the market risk involved. And it could be perfect for you. It might not be. It might not be something great for you. It all depends on your individual situation. Here's the thing though. You know, inflation not going anywhere anytime soon. So it's crucial that you make sure your retirement plan and your portfolio are protected against it. And those steps that I just mentioned are things that you can take to ensure that inflation does not derail your retirement dreams. And I can go over much more. That's tailored to you in a complimentary consultation. When I provide you with a retirement plan, a custom retirement plan just for you, all you have to do is call 855246 9211 855246 9211. You can also go to take pride in retirement.com. That's take pride in retirement.com. Well before we go here this time around I wanted to take a moment to talk about financial literacy. I'm a big advocate for financial literacy. I wish that I had had some, uh, more education when I was younger about, you know, financial literacy and, and just finances in general, because then I wouldn't have had so much catching up to do as an adult, you know. Schools need to focus much more on this public, private, whatever. This study from the World Economic Forum shows that financial literacy is really lacking in the US.

Speaker1:
It was just released not all that long ago, just last month, and it says that financial literacy is lacking among adults, not only here in the US, but also across the pond in the European Union. In the US, just about half of adults have a good understanding of personal finance. It's a 2% drop in the past two years. The EU also underperforming a quarter of respondents, scoring low for financial knowledge, and that lack of financial literacy is concerning. Because it can really lead to poor financial decision making and a false sense of confidence where you think you know what you're doing, but you're actually making all the wrong moves and making the wrong decisions there. The survey also revealed comprehension of financial risk is particularly low among adults. Now, this is problematic because the world of finance. Is constantly changing. Being able to navigate all the changes is crucial. Being able to navigate risk is crucial. And with the global economy struggling people living longer than ever. At the same time, retirement planning and understanding how to make money go further is becoming more and more important as each and every day goes by. So yeah, we need to do better about educating our kids and our, you know, teenagers about finances. More and more states are doing that and requiring that in the classroom, which is a great thing.

Speaker1:
How much they're requiring. Is that great? It depends on the on the state and what their requirements are. But at least things are headed in the right direction, right as far as that goes. But this survey really suggests that financial education should be a continuous journey as the world changes, and financial knowledge needs to keep up with all of that. So bottom line here folks, if you have financial questions, please reach out to me. I can analyze your current situation, come up with a plan tailored specifically to you to meet your needs and your wants. Whatever your goals are for retirement, I want to help you make those a reality. When it's time for you to call it quits, when it's time for you to leave the workforce, I want to make those dreams a reality for you. The consultation is absolutely complimentary. There is no obligation at all. You only work with me if it is best for you. Period. No pressure. And what you hear is what you get here on the podcast. Um, I'm not, you know, somebody just putting on an act here. This is pretty much the way I am. Yes, I'll, I will tell cheesy dad jokes and all of the things, but I will also give you my honest opinion and my honest analysis. Of your financial situation and more than more than opinion. I will give you that a thorough analysis and a plan to help make things better for you.

Speaker1:
And hey, maybe things are going great for you, you just might not quite realize it. If that's the case, great. I'll look at your situation. I'll say, oh, that's plan's actually great for you. And you go, go on about your business. But if there's room for improvement, which chances are there probably is. If there's room for improvement, I want to help you improve it. Okay. Take pride in retirement.com is the website take pride in retirement.com Matt at take pride in retirement.com is the email address. And you can give me a call 855246 9211 (855) 246-9211. Once again is that number. Well that is going to do it. That's just about all the time I have for today. But I thank you for being a part of things on this brand new edition of Take Pride in Retirement. Unless it's, you know, like 2025 or 26 or whatever year you might be listening to this online, then it's not brand new, but it is as of May of 2024. So there you go. Um, there you have it. And that is that is it for this episode. I thank you so much. I know how busy you are. I'm sure you are, because everybody's busy these days running around and doing all of the things for family and friends and work and just so much responsibility in all of our lives.

Speaker1:
So that makes me appreciate you taking the time to listen to me, um, for just less than an hour here. That makes me so grateful for you and for, um, everybody who's listening. But for you specifically right now, listening to the sound of my voice. Thank you so much. Spread the word, please. If you get something out of this show, we really would love for you to send folks to take pride in retirement. Dot com. Subscribe to us anywhere you get your podcasts because all of the big providers. Yep, we're on all of them. I'm talking Apple, Spotify, iHeart, um, the audible podcast, uh, network there. We're also on Amazon podcast, all of the places. Pandora, I guess. Can you get podcasts on Pandora? I think you can SiriusXM. You can get podcasts there. Get us wherever you listen to podcasts and we will love if you help spread the word, leave us a review, leave us a nice rating and a nice comment on any of those podcast channels that you might listen to us on. Really do appreciate it very, very much. All right, folks. So that is going to do it for this edition of Take Pride in Retirement. I thank you again and we will see you next time. Until then, take pride in yourself and take care of each other. Talk to you next time.

Speaker2:
Thanks for listening to Take Pride in Retirement. Members of the LGBTQ+ community deserve to work with a fiduciary financial advisor who puts their needs first to schedule a free, no obligation consultation with Matt McClure and the team at Active Wealth Management. Call (855) 246-9211 or go online to take pride in retirement. Dot com investment advisory services offered through Brookstone Capital Management LLC, BCM, a registered investment Advisor, BCM and Active Wealth Management Incorporated are independent of each other. Insurance products and services are not offered through BCM, but are offered and sold through individually licensed and appointed agents.

Speaker1:
Registered investment advisors and investment advisor representatives act as fiduciaries for all of our investment management clients. We have an obligation to act in the best interest of our clients and to make full disclosure of any conflicts of interest, if any, exist. Fixed annuities, including multi year guaranteed rate annuities, are not designed for short term investments and may be subject to restrictions, fees and surrender charges as described in the annuity contract. Guarantees are backed by the financial strength and claims paying ability of the issuer.

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