Navigating Wall Street’s Rocky Ride

Episode 5: Audio automatically transcribed by Sonix

Episode 5: this mp3 audio file was automatically transcribed by Sonix with the best speech-to-text algorithms. This transcript may contain errors.

Producer:
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.

Announcer:
Welcome to Take Pride in Retirement, the podcast dedicated to helping members of the LGBTQ+ 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.

Matt McClure:
Well hello there and welcome once again, this is Take Pride in Retirement. I'm Matt McClure, your host, your advisor, your friend and your pal, your confidant. For all my Golden Girls fans out there. And I know you're there and I know you're listening. Because if you throw a party. Invited everyone you knew. No. Okay, okay. I'll stop. I'll stop quoting lyrics now. Now I'm Matt McClure. Welcome once again, as I said, to Take Pride in Retirement. It's going to be a great show today. I am here, of course, as usual, I got to. I got to tell you why we're here as we start off. Because no matter who you love, no matter where you come from, no matter who you are, you deserve a retirement that you can take pride in. And this is a show that is really it's dedicated to the LGBTQ+ community. But it's really for. Anybody and everybody. You know, if you if you know anybody who is part of the LGBTQ+ community, this shows for you. If you are a human being with a pulse, living in preferably the United States of America, because, you know, we talk about the American economy and, you know, things to do with vehicles for investment and all of that that are, you know. Like legal and appropriate in America based on the American economy. Then this show is for you. If you're breathing, this show is for you. Basically what I'm getting at in in the US, of course, which is where a, the vast majority of this information is applicable. But no, I really do. Thank you for being here.

Matt McClure:
This is going to be another great show. Last show of course, we had on Gabrielle. Please go on and listen to that. Gabrielle Claiborne is a wonderful person who is very active in the trans community. We talked about issues of importance to trans folks when it comes to their retirement plan. When it comes to financial planning in general. You can go online to TakePrideInRetirement.com. That's TakePrideInRetirement.com. And you can listen there to all of our past episodes. You can you can download them. You can take them wherever you want. You can also go online, you know, to any of the big podcast getting places wherever you subscribe to podcasts and get the podcast there as well. So that is all very, very good thing for you to do. We would much appreciate it. Go there. Like us. Comment. Leave us a rating as high as it gets, please. We would love to have that and it will help us grow. And we can spread the word about retirement planning for LGBTQ plus people. Well all right. So today we're going to talk a little bit about volatile times that are possibly ahead. How you can plan for them, how you can get returns and income in your retirement without market risk. For a portion of your portfolio. So we will talk about that as well. I also wanted to mention, you know, we've got all those previous episodes on the website. As I mentioned, the website though was not the only thing we got going on. We are we're all over the place.

Matt McClure:
Go to YouTube, the YouTube channel. We've got more and more videos, special highlights from the show, YouTube shorts, all of that sort of thing going up each and every week. So don't miss out on that. Some special content there as well. Also, you know, we're on the socials, go to the Facebook, go to, you know, Instagram. We got an Instagram page coming. If it's not up already we've got it coming. So all of this can be yours if the price is right and it is because it's absolutely free. And also, you know, don't hesitate to reach out with any questions. All you need to do is, you know, you can go to TakePrideInRetirement.com and you can go there. You can fill out the contact form. You can reach out for a free consultation. Would love to do that. You can email me Matt at TakePrideInRetirement.com. That's Matt Matt at TakePrideInRetirement.com. Or you can give me a call I'd love to talk to you one on one. You know set up a set up a consultation a full one and all of that as well. (855) 246-9211. That is 855246 9211. I would be more than happy to talk to you one on one. All right. So what is coming up on the show today? Well well, well we've got plenty actually. Well of course start off with our quote of the week, as we always do. We will have a problem solver to come as well. Some market volatility to worry about that has reared its ugly head of late.

Matt McClure:
And it's got a lot of people worried. We'll do our problem solver here in just a few minutes. We've got a right or wrong segment, which is a way that you can actually kind of play along with us. You can test your financial knowledge here, and we've got to talk about real estate, safe investments and more in that segment and what to do in case the stock market crashes. You have to prepare for the what ifs in life, right? The what ifs in life are so important and we don't know. The specific what ifs, but that's why they're what ifs. You know, it's like, what if this happens? What if that happens? Well. That's the reason that you should seek professional help when it comes to your retirement plan. It's a, you know, something that you can't spend too much time. Really thinking about or delaying seeking that professional help. And you can't think, oh well, it's going to be way too cost prohibitive. It's going to be so expensive. I'm not going to be, you know, my money. Instead of going to me in my retirement, it's going to go to this financial adviser guy. No, it's going to go to you. And it will be a very, very affordable thing. We can talk about all those details when you do give us a call here, you know, call me, of course, at the number I gave you a few minutes ago. We'll give it several other times during our time together here today. Okay. Let's get things kicked off, if we can, with our financial wisdom. Quote of the week.

Producer:
And now wholesome financial wisdom. It's time for the quote of the week.

Matt McClure:
And our financial wisdom quote of the week this time around. Don't like to get political on the show, but you know, sometimes it just, you know, I'll find a quote and it just fits. And so here we go. It happens to be from a political figure, from the former president of the United States, the 44th president of the United States, Barack Obama, who said this, quote, when all Americans are treated as equal, no matter who they are or whom they love, we are all more free. And boy, how true that is. And it really goes hand in hand with the purpose and the point of the show each and every week here on Take Pride in Retirement. And I love that. I love that quote. It's, you know, all about just treating everybody the way that you would want to be treated. It's kind of the golden rule, you know, when we're all treated equally, when we are all regarded as full human beings under the law and not second class citizens, then we are all more free. It's, you know, being on that journey together towards a more perfect society, a more perfect union in the United States. That's what that is. And I love it. And I think that's especially appropriate with the I'm here in Atlanta, which is where I have my investment advisory practice, is part of Active Wealth Management and operate the office in Midtown Atlanta, which is kind of the gay, the gay neighborhood of Atlanta. The gayborhood of Atlanta. And, you know, we got pride celebrations coming up. We do ours in October here. And it is very appropriate, I think, to share that quote.

Producer:
It's time for this week's Problem Solver.

Matt McClure:
Yes, that is one of my favorite introductions to a segment of all time. I have to say, and it's the first time I've gotten to share it with you on Take Pride in Retirement. So hey, that's that's pretty awesome. It's also very dramatic. I tend not to be a very dramatic person, so I guess that's why I love that so much, is because it goes sort of against my character a little bit. But anyway, so let's get to our problem solver segment here. It's basically, you know, works like this. We present a problem and then we present a potential solution to said problem. And sometimes it'll be like a specific thing where, you know, a listener has reached out and they've said, here is this issue, what can you do for me? Or, you know, an existing client will reach out and say, what can you do for me in this particular situation? This time, though, it's more of a guess, a wide reaching issue, because more and more people who we deal with on a on a daily basis and who we who we help out on a daily basis are really expressing a lot of concern about recent market downturns. You know, we always say avoid emotional investing, right. And that's very, very true. You don't want to invest with emotion and you don't want to get spooked by a downturn that lasts a couple of days, which is not really necessarily even a downturn, depending on how you look at it and how big the the losses are.

Matt McClure:
But, you know, we've had a couple of months that have been losing months here in the stock market world. Let's actually look at the performance of the S&P 500. So far this year. And you know, when we when we look at it, the numbers do show that the benchmark index S&P 500 up so far in 2023 overall like year to date. We started out the year under 4000 in the S&P 500. And now we're up at least as of earlier this week of as of this recording we're up over 4200. So yeah I mean it's good we are up for the year. That is great. But things have really taken a u turn these past couple of months. You know, from August 1st through the end of September, the S&P lost more than 6% of its value. And that wiped out just a big chunk of the gains from earlier on in the year. And a lot of people, you know, and there are different schools of thought on this particular thing. Most people don't necessarily believe that it it is a thing, but psychologically, this is definitely a thing. Some people also really concerned about what is known as the October effect. Investopedia actually defines this as a psychological thing. It's an anticipation that financial declines and stock market crashes are more likely to happen during the month of October. And, for example, the Bank panic of 1907. Stock market crash of 1929, Black Monday in 1987.

Matt McClure:
All of those happened during the month of October. So people worry about it. It's you know, it's a scary month. We got Halloween coming up around the corner. Hope you've gotten your costume and are and are ready. I think we're going to do a couples costume this this year. And we were going to do The ambiguously Gay duo. But mean but not so ambiguous. But I think we're going to go as Fred Flintstone and Barney Rubble. I think. You know. Don't know. We'll see. We'll see how it goes. I'll report back. But anyway, you know, a lot of people really are wondering what to do with their investments during these uncertain times. You know, things had been climbing on Wall Street. Now we've got this, hopefully just a bump in the road. But really, I mean, here you go. This show is about what to do, right? So you haven't made a decision unless you've taken action. So we need to take action on a solution. And here is a potential solution for you. You know, it's and I'll say this as we start this solution, part of the problem solver. It's a natural thing for your risk tolerance to go down as you age, especially if you're in the retirement red zone. If you've been in kind of a buy and hold strategy and we'll talk, I'll define the retirement red zone here in just a second. But if you've been in a in a buy and hold strategy, but you've been waiting to take some risk off the table.

Matt McClure:
Well, now is probably the time to consider that. And so if you're in the retirement red zone, by the way, which is five years before retirement. Or five years into retirement. So what we call a retirement red zone, very important time of your life, financially speaking. And so if you've been in that buy and hold mode, as I said, but you've been wanting to take some risk off the table. This a good time to consider that? And one of the things that we talk about here on the show, and I'll mention them again. Fixed indexed annuities. Fias as we refer to them in the biz sometimes. Now, a fixed indexed annuity is really more of a long term investment, right? You can make a lump sum deposit. You can transfer funds from your retirement plans. You can make multiple payments over time if you want. An advantage of it is that your money inside a fixed indexed annuity is going to grow tax deferred. Now your performance of that particular pot of money. That investment is tied to the market so that investments performance is tied to the market. But and this is key, it is not directly invested in the market. You know, that particular annuity will track the performance of an index like the S&P 500, for example, which we just talked about. Maybe the Nasdaq, the Russell 2000, those those types of things.

Matt McClure:
Another big advantage here is it is it's protected rather against loss of principal. So that means you are not going to lose any of the money that you put inside a fixed indexed annuity that we would work with you on, right. And it can establish a source of income in retirement or whenever you want to turn on income. Really, and you set that up in the beginning. It can establish a source of income that you can never outlive. You can never outlive it. Again, you limit your losses with a with a fixed indexed annuity. There's that protection against the loss of your principal. You can protect your gains as well from period to period. If there are gains there, which there are, at least you know there won't be losses. But usually there are some market like gains during those periods, the crediting periods right from crediting period to crediting period. There's inflation protection because you're getting that market like growth. There is tax deferred growth as well. And importantly here, especially since we've had a couple of bank failures this year, there's a 100% financial reserve requirement and that's 1% financial reserve requirement, at least for the insurance and annuity companies to make sure that they have at least the amount of money that you put into a fixed indexed annuity. They have to have that liquid on hand to be able to cover that in case the unthinkable were to happen. So you can you can count on your money being there, right? There are some disadvantages to fixed indexed annuities, though.

Matt McClure:
Potential limits on gains. You can take advantage of a lot of the growth of the markets, but in a lot of products, you can't take advantage of the full growth in the markets, right? Just a percentage. There can be surrender charges, especially early on in the term. And there's uncertainty about exact returns because it's linked to the market. Right. So you're not going to know. It's not like a fixed annuity where it's like, okay, here is you know I've got growth of so and such percent. That I know each and every year that's going to be my return. Right. You don't know that. So there's uncertainty about the exact returns that you're going to see. Another potential. Solution here for uncertainty in the markets. Her structured notes. And. Particularly when we talk about structured notes, we want to talk about a structured note ladder. Um. And this is according to Investopedia. Just just to give you a little bit of an idea about what a structured note is, it's a debt obligation that also contains an embedded derivative component. That adjusts the securities risk return profile. So the return on a structured note is linked to the performance of an underlying asset, right. So it's linked to either either one particular asset or a group of assets or an index something like that. There's a lot of flexibility with structured notes. It allows them to offer a wide variety of potential payoffs that are difficult to find elsewhere.

Matt McClure:
And you know, really by laddering, which is buying structured notes with different maturity dates. You can align your structured note allocation across different terms, different maturities. And that approach also minimizes risk. It minimizes exposure to a single maturity date because if you have your all your eggs, all of your your structured note eggs in one structured note basket. Then it's just going to mature on, let's say, just throwing out a date here December 31st for ease of discussion. Okay, well, what if the underlying asset. Loses a big chunk of its value. During that time. By the time that maturity date rolls around, well, you are in a bad way. But if you've done a structured note ladder with different, different maturity dates for different structured notes, then that hedges against those potential losses. Because you've got different maturity dates, you've got chances to either make up losses or get potentially even larger gains, that sort of thing. Again, it all comes down to what is best for you, and that is the point of what we're saying here, is that. You know. Yes, we are talking about structured notes. We're talking about fixed indexed annuities. As possible solutions, and that the word possible there is doing a lot of work because those are some great solutions for a lot of people, but they might not necessarily be what's best for you. What is best for you? Well, we can tell you.

Matt McClure:
I'm a fiduciary financial advisor. I have my series 65 license. I've got my my fiduciary. Obligation that I have to meet. Which means that I have to act in your best interest. And that is what I will do. That is the promise that I have made. That is my professional obligation. And so I want you to go to TakePrideInRetirement.com. Reach out to me there. That's TakePrideInRetirement.com. You can email me. Easy super easy to remember it's Matt at TakePrideInRetirement.com. Or you can give me a call 855 246 9211 855 246 9211 is the phone number. All right. So, you know, if you are retired, if you're out of the workforce. It's natural for your risk profile to go down. You don't have the same income you did when you were working, right? So with inflation, potential tax increases, social security, cost of living adjustments, not keeping up with the real cost of living, you can't be as aggressive as you were during your working years. If you go back to work, it can be really hard to bring in the same amount of income that you were making previously due to age discrimination, which is a real thing. Other factors as well, and we can help you come up with a customized plan to address all of those concerns and give you the retirement you've always dreamed of. That is. And that's really what it's all about, right? That's to give you a retirement that you can take pride in.

Matt McClure:
The reason the show is named what it's named because we want you to have pride in yourself. We want you to take pride in each other. We want you to take pride in your retirement as well. Just go to Take Pride in Retirement. Dot com. All right. So if if the stock market does experience a crash and again I don't know if it's going to or not, it's not exactly crashing right now. But people are spooked a little bit. And some of those people who are spooked are some pretty big name investors. They're looking at turbulent times ahead. But and really, you know, when you think about it and you look at sort of historical performance, stock market crashes, you know, typically you don't recognize them as they're happening unless it's something huge, you know, like the stock market crash of 1929, which led to the Great Depression. Right. Or if it's 2007 to 2 into 2008. And it's the financial crisis, you know, Lehman Brothers goes under and all that. Like those. Okay. Yeah. You recognize those in the moment, but most of the time you only see them in hindsight. Hindsight is 2020, after all. And if you're like me and your crystal ball is broken, I've got five steps here to help you prepare for a crash on Wall Street, whether or not it's going to happen. And here's the thing I'm not just trying to be alarmist. I'm not trying to sound alarm bells for you and just scare you for no reason.

Matt McClure:
Um, as a matter of fact, I'm trying to do the opposite. I just I want you to be prepared for whatever might come. Okay? And that's the thing. We have to prepare for those what ifs in life. And this is one of the what ifs. All right. So number one is know what you own and why. Do not invest with fear. Avoid making any fear based or fear driven decisions and stick to your investment strategy. Does that mean sit tight and do nothing? Just keep calm and carry on. No. Make adjustments, but make sure that you're working with a professional to make those adjustments, and then you'll more than likely be doing the right thing, the thing that's best for you in your long term investments, right? Number two is to trust in diversification. You know, I'm a big believer in diversification. And, you know, being diverse not only in real life, socially speaking, but also diversifying your investments that's, you know, not only saying, okay, well, I'm going to I'm diversified. I'm going to buy shares of both Coke and Pepsi. Okay. Not quite diversification. Those two are obviously very heavily correlated. Right. They're going to move in the same general direction because they're both beverage companies. Well, you know, and these are all just examples, right. But okay, if you're going to buy Coca Cola then how about you also buy some, you know, General Motors, some Ford Motor Company, some three m some small companies as well.

Matt McClure:
You know, diversify get different asset classes mixed in there. Different asset classes, different sizes of companies. Also, not just all the big boys who were part of the Dow Jones, for example, but others that are maybe not quite as big diversify those investments and that can really help mitigate risk during market downturns. Also, consider buying in the dip. The old adage goes buy low, sell high. We know, we know that in a perfect world. Buy low. Sell high. But it's very difficult to actually do that all the time, you know? Okay. When's the bottom of the dip? They don't really necessarily know, but a dip in the market can be a good buying opportunity for a long term investor, which I hope you are. Specifically, if you have cash available to do it. Don't go selling other assets to then buy in to something else during a dip. And it might because it might not have reached the bottom yet. Whatever the situation might be, it just might not be the best. So. You know, stay with a professional to get that help. Hope that professionals me if it's not, get the help from somebody. Right. Take advantage where you can. That's another one of these steps. You can explore opportunities like, say, a Roth conversion during a market decline. You know, I mean, your tax burden would be less when you convert that money that say, maybe in your 401 K that you have not paid taxes on.

Matt McClure:
You got you're going to have to pay when you do a Roth conversion. You'll have to pay taxes on it. But then in the future, when tax rates are probably going to be higher in the future, you are sitting pretty because you're not going to have to pay that higher tax rate in the future on that money. You pay it up front when taxes are low, you'll be better off. Consult a tax professional for guidance, though, if you have any questions. And we can of course connect you with someone if you would like for us to do that. And then, of course, as I've mentioned a couple of times here already, I was I was really. You know, sort of buried the well. Didn't bury the lead, I what was it I scooped myself, I guess I should say, on this part of this segment, but get expert help, you know, consider consulting a financial advisor for an independent perspective on your portfolio. And that's exactly what we try to do. I mean, here's my here's my question. Do you just want to kind of wait and see what the market's like when you decide to retire? You know, you're sitting on the on the front porch sipping your mint julep and retirements, which is what I hope to be doing. Um, and, you know, day one of retirement. Oh, well, let me let me look and see what the markets are like. Now, I'm afraid that's going to be probably a little bit too late.

Matt McClure:
Um, my suggestion was that you get to the guarantees now. Start planning now. What you're going to do with both the paychecks, those paychecks that you get from either Social Security paychecks that you get from annuities that you invest in, that we help you out with. And the play checks as well. Always love that term. The paychecks. You make ends meet, you know. You pay your bills, you make sure that you have the electricity on and your, you know, your car's got gas in the tank and all of that and those play checks, that's the money you have fun with. Love that. Right. And we can help you set get set up with a plan so you don't have to feel like you got to win the lottery to make that happen. Well, we'll make it happen together. So. What are you going to do with those paychecks and those paychecks that you are guaranteed to receive each month? Reach out for a consultation, because worrying how you're going to spend the money that you get each month. Is a lot more desirable a place to be in than just worrying if you're going to have money to spend to begin with. Right. There is no cost. There's no obligation for the consultation. All you have to do is go to the website. TakePrideInRetirement.com. You can also give me a call the number (855) 246-9211. That's 855246 9211.

Producer:
Come on down as we test your financial knowledge in right or wrong.

Matt McClure:
I always secretly wanted to be a game show host. Like, you know, I grew up watching a lot of shows in both old and new Family Feud Match Game, which has always been like my favorite game show ever. And I'm like, oh my God, I want to do this. Like, this is this is what I want to do with my life. Well, this is as close as I've come really so far in right or wrong. So play along as you are wherever you are today. If you're at the gym and you have this on, God bless you. I am currently not on the treadmill, but if you are. More power to you and hopefully I will join you because I need to. The pandemic did me in folks, but. Wherever you are, I want you to play along. I'm going to present a question or a statement. Really? And then I'll tell you whether that's right or whether it's wrong. You can play along. Guess along right here with me. All right. Here's number one. Warren Buffett says a commercial real estate crisis is coming. Warren Buffett said that is THAtrillionIGHT or is that wrong? Okay, bit of a trick question here. It was wrong. But Buffett's right hand man, Charlie Munger, did say that he is a legendary investor and a Berkshire Hathaway vice chair. I know, I know, it was kind of mean to start off with. But Berkshire Hathaway Vice Chair Charlie Munger, warning of trouble in the commercial property market, specifically regarding distressed loans that are held by big banks.

Matt McClure:
Munger pointing out that US banks are exposed to a significant amount of bad loans as property prices decline in on the commercial side. But he does note that the situation is not as severe as the 2008 financial crisis. Thankfully, let's hope that that really does turn out to be true. We don't need another 2008 here. Among our highlights challenges in the commercial property market. Like guess what? High vacancy rates due to the work from home trend both during and post pandemic era. And that's really affected office buildings, shopping centers, other properties as well. I mean, it's it's just not a great situation for commercial real estate at the moment. So that one was wrong in the form that it was stated. Warren Buffett didn't really say that exact thing, but Charlie Munger, Warren Buffett's right hand man, did, and I'm sure that Warren agrees with him. All right. Number two investor Ray Dalio is predicting the economy will slow due to a debt crisis. The economy will slow due to a debt crisis, says Ray Dalio. Is that right or is that wrong? Well, that is right, yeah. According to insider, he's worried about America's borrowing binge and economic growth cooling down. The billionaire investor warned of a debt crisis, a meaningful slowing of the economy as well.

Matt McClure:
He says Dalio has previously flagged interest rates, civil unrest and geopolitical tensions as concerns. All right, so that one was right, unfortunately. The number three is this if your employer does not offer a pension plan, there is no other way for you to create a personal income stream that you can never outlive. Is that right or is that wrong? Ah ha! Well, of course that one's wrong. If you've been paying attention, you know that annuities allow anybody to protect and grow their wealth and establish an income stream that they can never outlive. Fixed indexed annuities are tied to a stock market index, as we said a little bit earlier. And that allows you to get market like gains without the market risk, your principal 100% protected. And that means that the worst you can do year over year is 0% growth. So no change, right? And in a year like say a, you know, 20 or rather like a 2008, for example, or a 2022, for example. You know, I mean, 100% principal protection. Zero losses when everybody else is losing a bunch. That is music to the ears of people who want to be able to retire someday. I am among you people who aspire to retire. All right. And number four, last one here in right or wrong, you can get market like returns without market risk by investing in a fixed indexed annuity linked to proprietary indexes that are paying higher than the market indexes are performing.

Matt McClure:
Is that right or is that wrong? Well, that is right. Yeah, that's due to the current interest rate environment. And you might think, okay, well what is interest rate? What do interest rates have to do with fixed indexed annuities. Because I thought that you said that it was tied to a market index, which it is. But insurance and annuity companies actually take the money that you invest and they or that you purchase the annuity with and they invest an amount equal to that. In the ten year US Treasury. And because interest on those bonds is two times what it's been in prior years, well, that gives the companies more opportunities to purchase options in bulk. And luckily for you, a listener, to Take Pride in Retirement. I am part of the less than 1% of advisors in the country who can actually offer a product from nationwide that includes a 325% ish participation rate, which means, yeah, 325% of whatever growth is in the market. That's what you can get credited to your account under this this particular product. 20% immediate bonus applied to the principal. That's what you can get in this product and not everybody can offer it. But I can. And so I encourage, you know, if you are sitting there or standing there or running there, walking there, whatever you're doing. And you were saying, look.

Matt McClure:
My partner, my husband, my wife. For we are concerned right now. Not going to say scare to death, because I don't think that you necessarily should be scared of death, but I think you should have a healthy amount of concern about what might come for the markets. So. With that healthy amount of concern should come a healthy amount of. Preparation. Right. And I want to help you prepare. So if you're sitting there and saying that we are concerned about what is going to happen. But we still want to get gains so that we can actually retire someday. And I really do think that that is what, you know, people who are part of our community, part of the LGBTQ+ community tend to. And this is obviously not true for everybody, but tend to be more safety minded when it comes to investments than others in general. Obviously not saying that this is a rule that is universal, but in general that tends to be the case. Because historically we have had so many uncertainties in our lives. And, you know, up until a few years ago across the nation, we were not able to get married. We're not able to marry the person that we love. Therefore we could not, you know, have tax planning that was the same or similar to other people. We could not, you know, do a lot of the things that married straight couples could do.

Matt McClure:
Now we can all get married no matter where we are in this country, and it's recognized throughout the country. Thank God. Josh and I got married 2011. Then proceeded to move to Florida, where we had no rights. We moved from New York to Florida for a year and mean, and he went to the emergency room. You know, he had to go to the emergency room while we lived in Florida because he had a kidney stone. He was in pain so bad. And he has a high tolerance for pain. He was in pain so bad he was in the fetal position. On the floor of our apartment. And so we said, okay, they can't do this. Got to go to the emergency room. And thank God it wasn't a situation where he was unconscious when we went to the emergency room, because had it been, I would not have been allowed to go see him. Wouldn't have been allowed because he had to sign. A piece of paper. When we entered the emergency room that said. He's allowed in here because he's my spouse. Maybe not legally in the state of Florida at that time, but. Let him in here. And had he not been conscious, had he not been awake to be able to do that, I would not have been able to come back. So thank God times have changed since then. We got a long way to go, but we have come a long way as well.

Matt McClure:
But. Because of those hurdles and that history that we have collectively as a community. As a very diverse community, but as a community. And as many of our brothers and sisters and or brethren and sistren, as we might say. But still face today these same types of hurdles. You know, our trans community faces so many hurdles today. Even people who just want to make a living performing in drag face so many hurdles today. It's kind of insane how far we still have to go, because so many in our community continue to be used as scapegoats or as as, you know, boogie men, boogie women, boogie people. It's it's crazy. Really? Really is. Anyway, off that soapbox. But thankfully things have changed. We've still got a long way to go, but. Because of that history, we're more safety minded. We just tend to be in general. And so a product like this can really help ease those concerns, because you still get that market like growth potentially more than the markets. So you get those market like gains without the market risk. Your principal is not at risk in the stock market. And. You have an immediate 20% bonus for this particular product, so that is a great thing to ask about. Go to TakePrideInRetirement.com that's TakePrideInRetirement.com. If you want to skip over the whole website thing you can do that.

Matt McClure:
You can just email me at Matt at TakePrideInRetirement.com Matt at TakePrideInRetirement.com. Or you can do it the old fashioned way if that is what you so choose. And hey if you so choose so choose it. (855) 246-9211. That's the number 855246 92. 11. All right, so just about time to wrap it up and and skedaddle here. But. We wanted to go through a little bit about what happens when you do call. And you get that free consultation. Number one thing I want to say is. Want you to take advantage of this because it really is a big value. Here, know we'll do a portfolio analysis for you. We'll give you a financial plan to your 95th birthday and even beyond. Maybe. All right. Because you need to plan that far in advance. People are living longer, even with Covid. People are living longer these days than they have in the past. So that financial plan to your 95th birthday. Completely analyze your financial situation just for being a listener to the show. We'll discover how much you're paying in. Fees will help you cut unnecessary costs in other accounts that you might currently hold, like IRAs, 401 seconds, other retirement savings, Social Security planning, Medicare. We are got we've got you covered there as well with, you know, some advice that is based on your particular situation. And we'll compare your current situation to what things could look like for you in the end if you work with us.

Matt McClure:
And that's the thing. Could it be? And most of the time is. Could it be, like, so much better than what your current situation is now? Yeah, absolutely. And that is generally what happens on the odd occasion. You might already be on that on that road and will say, this is great. You know, we've analysed everything and it looks like you actually have a pretty good plan in place. Stick with that. Great, grand, wonderful. It's not a high pressure situation at all. You know, we just want you to have a retirement that you can be proud of, that you can take pride in. It's your money. And if it's important to you, it is important to me. And it's important to my colleagues at Active Wealth Management. So go once again, the website is TakePrideInRetirement.com or call (855) 246-9211. All of that by the way that I just mentioned. It's a $1,500 value. And we'll do it for you at our cost. Won't cost you a dime. We'll pick up the tab on that. Okay. Well, I hope that you have gotten something out of this last little bit that we've spent together here. I know that I have because I enjoy spending time with you, the listener. And thank you for listening, folks. This is been a dream of mine to have a show like this for a long time, and I just really thank you for being a part of it.

Matt McClure:
I'm so passionate about this. I want to help you. I want to, you know, help make your life better. That's really what it's about. You know, there are a lot of things that I could do with my time, but I don't do those other things. I do this because I want to help. You know, it's not for me about this is a get rich thing. No, it's definitely not what it's about. Trust me. What it's about. It's about helping you. It's about giving you. Advice, working with you hand in hand so that you can have a great retirement. So that you can have a retirement, that you can be proud of, that you can. You know, bring that dream of retirement to life. I'm just a retirement that you can take pride in. As the name of the show suggests. Folks, I really do thank you for being with me on this edition of the show. Tune in once again next time we'll have another guest coming up here very soon. And remember to go to TakePrideInRetirement.com. Listen to the past episodes as well. Follow us on YouTube, Facebook, Instagram, all the places and we will talk to you next time. Remember, take pride in yourself and take care of each other. So long folks.

Announcer:
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 TakePrideInRetirement.com. Investment advisory services offered through Brookstone Capital Management LLC, BCM, a registered investment advisor. Bcm and Active Wealth Management Inc. 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.

Matt McClure:
Do you want a steady stream of income for retirement? Then it's time to consider annuities. I'm Matt McClure with the Retirement.Radio Network. Powered by AmeriLife. Gone are the days when most employers offered pensions with guaranteed lifetime payouts to their workers. But what if I told you that you can build your own personal pension? It's possible with an annuity. An annuity is a financial product that provides a series of regular payments to an individual over a specified period of time, often for the rest of their life.

Ford Stokes:
There are several options for you to consider when choosing an annuity. Be confident in knowing that there is an annuity out there that can meet all of your needs.

Matt McClure:
Ford Stokes is founder and president of Active Wealth Management and author of the book annuity 360. There are several different types of annuities, including fixed, variable, and fixed indexed.

Ford Stokes:
A fixed annuity offers a specific guaranteed interest rate on their contributions to the account. A fixed indexed annuity is an accumulation based product offered by an insurance company. The growth of your fixed indexed annuity is dependent on the performance of a chosen stock market index, but your money is not actually invested in this index. This offers you great growth potential and exceptional protection for your investment.

Matt McClure:
While each can provide tax deferred growth and a lifetime income stream, variable annuities put your principal at risk in the market.

Ford Stokes:
If you are currently investing in a variable annuity, your funds could be in serious trouble if the market experienced any downturns.

Matt McClure:
With so many possible choices to consider, it's essential you speak to a financial advisor or professional to help you make the best decision for your future. So are you ready to consider an annuity as part of your retirement plan? It's a key question to consider as you approach what should be your golden years with the Retirement.Radio Network powered by AmeriLife I'm Matt McClure.

Producer:
Fixed annuities, including multiyear 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. Any bonuses mentioned may be subject to additional restrictions and regulations based on the offering annuity company. You may not receive the bonuses if the contract is fully surrendered, or if traditional annuitization payments are taken, and if the policy is partially surrendered, it could result in a partial loss of bonuses. Because these are bonus annuities, they may include higher surrender charges, longer surrender charge periods, lower caps, higher spreads, or other restrictions that are not included in similar annuities that don't offer a bonus feature. Structured notes involve risks not associated with an investment in ordinary debt securities. The securities are not bank deposits and are not insured by the Federal Deposit Insurance Corporation or any other governmental agency, nor are they obligations of or guaranteed by a bank. The securities will not be listed on any securities exchange and the secondary trading may be limited. Therefore, there may be little or no secondary market for the securities. Accordingly, you should be willing to hold your securities to maturity. The securities are subject to the credit risk of the issuing bank, and any actual or anticipated changes to its credit rating or credit spreads may adversely affect the market value of the securities.

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