When it Comes to Money, the Little Things Matter

Episode 27: Audio automatically transcribed by Sonix

Episode 27: 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+ 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 there, and welcome to another edition of Take Pride in Retirement. Matt McClure here with you, your hosts, your advisor, your pal and confidant and your good buddy and all of the things I really do appreciate you joining me, being a part of the show. I know I say that each and every time we get together here and and have a new show, but it is worth saying because it's actually true. I really do appreciate you taking your time to join me. That's the thing. Like, you know, you could spend your time literally doing anything, and the fact that you choose to spend at least a little of it listening to this show just means a whole, whole lot. So I really do appreciate it. And I'm not just saying that I'm not just blowing smoke. I really, really do mean it. Thank you. This is the show that is all about retirement, of course, and giving you a retirement that you can take pride in. It's it's all about, you know, focusing on resources for retirement, information about retirement. That's especially of use to the LGBTQ plus community. Now look, if you are not a member of the community, maybe you're an ally. Maybe you are just some random person who ran across this podcast completely by happenstance. You know, I love that you are here regardless of who you are, because my whole mantra in doing this show is just what my my husband, who does the announcement and the voiceover at the beginning of the show says, no matter who you are, no matter where you come from, no matter who you love, and even no matter who how you identify yourself, any of those things, no matter any of that, you deserve a retirement that you can take pride in.

Speaker1:
It is that simple. It's that easy. It is really that that easy of a concept as to why I'm doing the show. And, you know, especially I wanted to give back to the LGBTQ plus community, a community that's given me so much in life I want to pay it forward, um, for for us, for our community, because there were so few, if any resources out there specifically discussing, specifically talking about issues in retirement planning that matter to the LGBTQ plus community. They just didn't exist. They weren't out there. And so I decided I wanted to do something about that. And so I am and here is the show. Um, so if you want to do more than just, you know, kind of take part in the show and listen, which I'm glad that you are. Of course, as I've said, you can do a couple of things you can go to take Pride in retirement.com there you can find all the episodes of the show. We've got links to them on the episodes page. You can also subscribe to the podcast there as well. Yeah, wherever you are listening to your podcast, wherever you subscribe to things and and all of that, um, you can get in touch with us that way by subscribing to the podcast.

Speaker1:
Like the podcast, leave a nice comment there as well. Or a rave review. I would love that, especially if you'd be able to do that. Helps the algorithm, helps all the things right? Helps us spread the word even further so you can go to take Pride in retirement.com. You can also email me Matt at Take Pride in retirement.com if you want to do it kind of the old fashioned way. You can give me a call 855246 9211 (855) 246-9211. And that is the number there. Now when you go to the website, by the way, take Pride in retirement.com. There's a button at the top of the screen that says schedule a consultation that actually you can schedule that right into my calendar. And it will be an immediate time period. That is yours, 30 minutes, 60 minutes, whatever you want there. Those types of things are available. We can meet in person. If you're in the metro Atlanta area, you can come in here to the office in Midtown. You could also, you know, do it via zoom or some other type of remote means. Actually just met with someone the other day over the phone for the for the very first time for an initial meeting and consultation. So however you want to do it, however, is most convenient for you if you have specific questions, not only about any of the things that we talk about here on the show, but if you have specific questions about your retirement, you know, in in general or your plan that you have together, or if you think, oh my gosh, is my plan good enough, what do I need to do to improve my plan? If not, how can I make sure that my plan is good? We can go through all of those things.

Speaker1:
I'll go through it with a fine tooth comb and not just give general advice. I'll actually give fiduciary advice because, you know, I am a financial advisor and I act in a fiduciary capacity. That means that I have to act in your best interest, not my own. And, you know, I'm the type of person I would do that anyway. But it's that extra added layer of assurance that you can, you know, just take, you know, some some assurance, I guess, that take some comfort, I guess I should say, in the fact that I have to legally, I'm legally bound by that fiduciary standard. So I have to act in the way that is best for you, not what's best for me. All right. So this week it's all about, you know, taking time, of course, to prepare for retirement. As we talk about each and every week, I want to really specifically focus on a couple of things. One, the small things matter. The things that seem like they are the little things. Those things matter. Right. So we'll talk about that and exactly why that is. And I've got kind of a secondary quote of the week that will help propel that conversation forward.

Speaker1:
So the little things in life really do matter when it comes to your finances and when it comes to planning for your retirement. The other part here is why you want to plan for retirement as early as possible now. Don't think that if you are not in your 20s anymore, that it's too late to start planning. It's absolutely not. It's better to have a plan in place whenever you get that plan in place, right? But at the same time, you have more time on your side. When you are younger, when you, you know, are in maybe in your 20s or 30s or even your 40s or your 50s, you got more time on your side then. So the earlier you plan, the better. And the power of compounding interest, that's interest that you earn on top of the previously credited interest. Right. So that initial interest that's earned basically becomes part of the principal for the next year. And then that year's interest gets earned on that new bigger total. So it's compounding each and every time interest on top of interest, as I say. So that is really your friend, especially the earlier you get started with your retirement plan. So those are kind of the two big things that we're going to talk about today. As always though, let's get started with our conversation by sharing a brand new quote of the week.

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

Speaker1:
And this week's quote comes from the hilarious legendary member of the LGBTQ plus community as well, Lily Tomlin. I love Lily Tomlin. Here's my thing. When I was a kid, my favorite movie. This should have told my parents something. My favorite movie was 9 to 5. I may have mentioned this before. And I would literally watch it on a loop. When I was a kid, it was like we had a VHS of it. It was recorded off of the TV, um, on our on our VCR And so I was very used to seeing like the TV edited version with a like weird commercial breaks in there where they were partially recorded and partially not. Um, and so when I actually, you know, grew up and bought a DVD of it later on in life, it was very I was like, oh, this is in the movie. Oh, this is how that scene starts. You know, it was it was very weird. But Lily Tomlin, of course, along with Jane Fonda and Dolly Parton, starred in 9 to 5, which is why I mentioned that. And so Lily Tomlin said this. I always wondered why somebody doesn't do something about that. Then I realized I was somebody. I love it because it's, you know, it's sort of picking up this quote, kind of presumably mid-thought. Right. Where she's already said, here's the something or here's the that, I guess I should say, here's the problem that needs to be solved or something that needs to be adjusted or just improved, right? There's something that needs to be fixed no matter what it is.

Speaker1:
But she's saying, I always wondered why somebody didn't do something about that. And then I realized I was somebody. So that's why, you know, it's so important. It really calls into focus the fact that it's so important to take action. You know, in this context, when we're talking about finances, as we do each and every week, take action. If you feel like you need help with your financial picture, if you think that your financial picture is not as pretty as it needs to be, if you are not as prepared as you need to be at this stage in your life for retirement, then just, you know, reach out, take pride in retirement. Com take pride in retirement. All one word.com, click on schedule a consultation or just reach out to me via any of the other contact methods there that are listed on the website. It is that easy to take action to do something about your retirement plan. Get it on track, get that retirement plan on track, and I would be glad to help you do that. And, you know, I mean, there are things which we'll talk about here on the show that you can do by yourself. Things that you don't have to necessarily reach out to me for. But if you would like to reach out to me, and if you would like me to help lead you through some of these things, or if you're just saying, look, I have doubts about my plan.

Speaker1:
I have doubts about whether my plan is feasible, whether it goes far enough, whether it does enough. I'd be glad to help you with it. So just go to take pride in retirement.com once again, and I would love to do that. All right. So, um, you know, I wanted to talk briefly here about kind of the little things in life and how much they matter from a financial standpoint. Right. So there was another quote that came to mind when I was talking, when I was thinking about this rather, um, and thinking about, you know, this topic and kind of wanting to talk about it because I got into a discussion with somebody earlier in the week about the different like subscription services that they have, right? And like, gosh, you know, Netflix and YouTube, YouTube premium and, you know, Prime Video and Disney Plus and Max and Hulu and all the things. Right? So they, you know, they've got all of these different subscription services and they're like, I may watch this one, I'll like I'll watch one show on it. And then I've got maybe, you know, watch a movie on this one every once in a while. But otherwise I don't really use it. But, you know, they're paying those subscription fees each and every month and and those add up. Right? They really do add up. And so this quote came to mind when I was thinking about that.

Speaker1:
It's actually from Benjamin Franklin. And it was beware of little expenses. A small leak will sink a great ship. A small leak will sink a great ship. And that really is true. I mean, you know, you think about it. And if there's a leak, there's a small leak, even in the biggest, you know, greatest ship that's ever sailed, the seven seas. And it goes unnoticed. You know, all of a sudden on down the line, it may take a while, but on down the line, you're going to be like, wait a minute. Why are we. Why is the ship going down? You know, why is it, you know, we're not floating at the same level that we were a little earlier on in the journey. So you don't want those leaks even as small as they might seem in your financial life. And I'll give you a couple of examples. One is the whole subscription service thing. How many of those do you have that you might not even use that you used to use? And you said, oh, well, you know, if I stop watching so and such show like maybe you subscribed to something just to binge watch one show. And then after that show was over You went on to watch something else on a different service and never cancelled the other service. Right? I am guilty, I'm preaching to the choir on this one. I am so guilty of that. Um, and I'm trying to do better with it.

Speaker1:
I actually just went in and and cancelled a few of those, you know, monthly things not that long ago. So that's one. Right. Those subscription services. And it's not just, you know, the entertainment type subscription services. There are clothing services, you know, like that. There's one that will send you clothes every month. There's one that'll give you credits to spend at, you know, their website every month. As long as you remain a member and you pay like 60 bucks a month or something like that. So all of those things and they really do add up. Because if you think, let's say that there are just on average, let's say $10 a piece every month for like the entertainment ones, right? Like the, the netflixes and the so and such is whatever the, the, uh, streaming services are the so and such is. Gosh. Um, but let's say they're on average ten bucks a month, right? So if they're ten bucks a month and you have ten of them, that's 100 bucks a month that you could be spending on something else, or that could be going toward your retirement, that could be paying you instead of randomly paying some big corporation so that you have the privilege of watching their videos, you know, or whatever the service is. Um, even if you just have like 5 or 6 of them, that's 50, 60 bucks a month. Instead of paying that to the subscription service, pay that to you and future you will.

Speaker1:
Thank you. Another example of this, of kind of a a small leak sinking the great ship. But just those things that we do that we might do out of convenience and not really think about the expense, at least not in the moment, or at least not until the bill comes. And that would be something like, you know, going out to eat several nights a week. Eating at home. Yeah. The price of, you know, groceries and all that have has gone up. And even though that is the case, eating at home is still much cheaper, much more cost effective than going out to eat. You know, I mean, sometimes, yeah, there may not be time to cook. You need to go out to eat and grab something quick or whatever, but try and limit that as much as you can. Cook at home, eat at home, and then take that money that you save that you are not spending and pay it to yourself. That money that you have left over. Pay it to yourself instead and do that first every month. So it's not just, you know, you're not thinking about it as leftover money. Make paying yourself first a priority, right? And take care of plugging those small leaks so that you can take pride in your retirement when that time comes. All right, so that is kind of number one here on our list of things that I really wanted to to talk about and discuss.

Speaker1:
One of the other things was was this and you know, times change obviously. Um, you know, no matter who you are or where you are in this country, around the world, even things change. You know, the the passage of time is a real thing, and we can see it all around us in the technology that we use. I, you know, a few years ago, it would be a lot more difficult for me to broadcast my voice out to a wide audience without the help of some, you know, without being employed by some big company somewhere and having my own show that was then distributed by said company. Now I can have my own podcast like this and bring it to you each and every week or thereabouts. Right? So things change all the time. And so we really can't prepare for retirement the same way that our parents did, or that our grandparents did, or our other older loved ones. Right. You just can't do it. It's not the same world as it was. So why would you use the same methods that they used back in the day? Right. I'll give you some examples here of why we can't prepare for retirement the same way that our parents or grandparents did. Number one is the changing retirement age. You know, in the past, a lot of retirees expected to stop working at kind of a fixed age, mostly around like, say, 65 or so. Well, now, you know, that's really more flexible.

Speaker1:
Some people are working into their 70s, maybe even longer than that. Many others retire earlier than that. So the important question to ask yourself here is when do you want to retire? And that is why you want to get a plan in place as early as possible, so that you can kind of circle that date on the calendar, right, in that have that goal to be working toward. And then if any changes or adjustments need to be made along the way, including an adjustment to that date, you can make that adjustment, right. You can do that longer life expectancy. Yet even after Covid, people are living longer. And that means that retirement savings are going to have to last longer as well. It increases the need for more significant savings, potentially more predictable investment strategies. So do you have guaranteed income as part of your retirement plan? I can help you with that. And yeah, I said guaranteed income. And why is that so important? Well, because two things. One, yeah, having one big nest egg sort of number in retirement, um, is great. That's a that's a great goal to set for yourself, but too many people focus on accumulating one big nest egg and say, well, that's going to be what I'm going to live on in retirement. Well, are you sure that you can live on that in retirement, or do you want to actually be sure? Do you want to take a portion of that? Would you rather take a portion of it and put it into something that is going to actually generate an income that's guaranteed for the rest of your life, no matter how long that life happens to be, you can never outlive a stream of income that's guaranteed in that way, and I can show you how to do it.

Speaker1:
The decline of pensions also a huge thing. You know, it used to be you would work for a company especially, you know, back in Grandma and Grandpa's day. Right? You'd work for a company for 40 years, you'd retire, you'd get your gold watch and you'd have a pension, and a pension was guaranteed income A guaranteed income for the rest of your life, and perhaps for other individuals as well. Maybe a spouse also. And by the way, that sort of personal pension thing that I mentioned a moment ago, we can set that up to be, you know, not only making payments for your life, but for, you know, if you have a spouse for their life, if you have a, you know, a partner for their life, or you can leave a death benefit to a partner or a spouse or, you know, a dear friend or whomever, the the rainbow is all encompassing here, and we can make plans to fit no matter who you are and no matter your particular situation. That's what it's all about, really, is tailoring it for you. But the pensions, you know, that we used to get from corporations after retiring for 40 years, retiring for 40 years, after working for 40 years and then retiring.

Speaker1:
I should say they've become a lot less prevalent. I mean, just a small fraction of private companies now Offer a pension plan. And so that once that shift started happening a few decades back, started shifting the responsibility of retirement planning onto the individual. The onus is on you. But here's the thing, though. Many people who I work with and I'm honored to work with, really love the personal pensions that I have helped them establish because that is guaranteed income. It is truly a personal pension. It is that income for life that you can never outlive. And there are plenty of options out there and different types of these sorts of, of personal pensions that we can help you sort of navigate through and decide which one might be best for you. And if that's something that interests you, just go to the website, take pride in retirement comm, schedule a consultation or call 55. Two. 46. 92. 11. Challenges to Social Security, of course, are, you know, always prevalent concerns about the long term sustainability of Social Security have increased. New report finding that Social Security recipients face about a 20% cut when the trust fund that that funds the. It's the old Oasi Old-age and Survivors insurance trust fund that funds that part of Social Security when it runs dry here in about a decade or so, you're going to face a big cut to benefits if nothing is done.

Speaker1:
And really and truly, nobody is saying what we're going to do to stabilize the plan in the middle of an election season. It should be a more prevalent issue than it's been, quite frankly, on the campaign trail. There are a lot of issues out there, obviously, that we know, but if you are worried about Social Security, why not get a plan in place where Social Security is not going to be what you rely on solely in your retirement? You want to be in a position where it's the cherry on top, it's the gravy. It's whatever other food metaphor you want to use. It is the thing that is just the is the extra. You want to go ahead and have a guaranteed retirement income that you can actually live on. Have plenty of money to go around. Make sure that your obligations are met. Make sure you can do the things that you want to do in retirement. And then whatever you get from the Social Security Administration, that's that's extra. That's that's fun money. That's play money, right? You can set it up that way and I can help you do it. Again, take pride in retirement. Com. Healthcare costs are rising. Increased life expectancy as well that we talked about just a second ago. That increases healthcare expenses because you know if you've got the health care needs for a longer period of time, then obviously that's just going to increase that overall expense over time.

Speaker1:
And so you've got rising health care costs. That's another reason you can't prepare for retirement the same way that your parents or grandparents did. Ongoing inflation. You know it's come down significantly. Thankfully it's come down significantly about I believe 2.5% was the latest year over year increase in inflation as reported by the federal government. And that's a long way from where we were at over 9%. Um, doesn't seem like it was all that long ago, but it kind of was, uh, these days, a little, little while back now. Um, but it still has eroded the purchasing power that we have. Right? If things cost more, the dollar doesn't go as far. Thankfully wages have started to keep up with inflation, but still it is hard as an individual to keep up when your personal salary is not keeping up, when your personal level of income is not keeping up. So it's really important. Really necessary to save more, invest wisely, and combat the effects of inflation on your retirement savings. Look, if you've got questions about any of this stuff, if you've got questions about Social Security, you're probably asking, for example, can I count on Social Security to be there, like we were just talking about through my whole retirement? When should I take Social Security? Why would I wait to take Social Security? You can take it as early as 62. But why might you want to wait until your full retirement age, which is, you know, between 66 and 67? Or would you want to wait until even later than that? Would you want to wait until age 70 Even what happens to our benefits when my husband wife spouse passes away? What happens to my benefits? Regardless of what happens, right? I mean, think about this.

Speaker1:
In 1950, there were more than 16 workers per Social Security recipient. Today, there are about 2.8 workers per recipient. That is headed in the wrong direction. And the national debt is over 35 trillion now. So we've got these concerns about what are they going to do to not only bring down the national debt, but to shore up Social Security so that it can be there for the long term? You cannot count on Social Security as your only source of income in retirement. You need a plan for if you're married when one spouse passes away, you've got to have a plan for what's going to happen. One of those benefit checks is going to go away. Yes, it will be the lower of the two, but your expenses don't necessarily go down by half when one of you passes away. So have a plan. That's what's really important. If you get nothing else from any of this. Just have a plan. Have a plan in place. So, you know, I love, love, love meeting with people and helping them on the road to retirement as early as possible. Because here's the thing if you are faced with a shorter time frame, you don't have as long to take advantage of your retirement savings and the compound growth that you could have otherwise.

Speaker1:
You know, if you are investing in stocks, if you're investing in, you know, any safer avenues of investment like I like to use for that sort of personal pension side of things. On the accumulation side of that, we want to keep that money safe so you know what you're getting yourself into. So at least you have a guaranteed floor and you're not going to lose that money. So I love helping people through that. And the earlier you get started along the road of making a plan, the better, because that way compounding interest can be your friend instead of your enemy. That way, you'll be much farther ahead when it comes time for you to retire. Whatever that date is that you have circled on the calendar. When that date comes around, you'll be prepared. And that's what I want you to be is prepared, not scared. Be prepared for your retirement. Go to take pride in retirement.com. Once again that's take pride in retirement.com and I'll be glad to help you out with a free consultation. It is absolutely free of any cost, any obligation. You'll only work with me if it is best for you. And you know that really is what it's all about is what is best for you. Because that's my only goal is to do what is best for you. Using the knowledge, the training, the education that I've gotten in all of these areas over the past several years, taking all of that and putting it to work for you so that we can put your money to work for you so we can make sure that future you thanks you and gives you a big old smile, not a slap on the wrist because you didn't do the right thing, right? Once again, take pride in retirement.com.

Speaker1:
That's take pride in retirement.com. That's the website. Or you can call (855) 246-9211. All right. So that covers kind of the importance of starting as early as possible. And I also so before we we run here in just a few, I wanted to share a conversation that I had with, uh, this lovely woman from AARP and extremely smart woman from AARP talking about the Medicare drug cap, talking about prescription drug prices in general, how those prices have kind of gotten out of hand how seniors are really wanting to, you know, bring down those costs and how AARP is working to educate seniors and helping bring down those costs as well. So take a listen to this conversation. Lee Purvis is is her name and shares a lot of great information. And of course, where you can go to learn more toward the end as well. So listen to this and we'll wrap things up coming up on the other side. I'm speaking with Lee Purvis, prescription drug policy principal at AARP Public Policy. Lee, thank you so much for taking some time for me. Really appreciate it.

Speaker4:
Absolutely happy to be here.

Speaker1:
Well, starting next year, 2025, the annual out of pocket prescription drug costs will be capped for millions of part D Medicare enrollees. Um, this is something that came about because of the Inflation Reduction Act that passed a couple of years ago. Um, first off, Lee, talk about these caps and how it's going to benefit older Americans.

Speaker4:
Yeah, this is a hugely important new protection for people in Medicare prescription drug plans. Previously, they did not have a limit on how much they had to spend out of pocket on their prescription drugs every year. So the fact that there's now going to be a new $2,000 cap in 2025 is hugely important, because we were often hearing about people who were spending upwards of $10,000 just on their prescription drugs. So a really important new protection.

Speaker1:
Yeah, it seems like it. I mean, that could potentially be, you know, life changing for a lot of people when you're talking about that much money for people living on a fixed income. Certainly.

Speaker4:
Absolutely.

Speaker1:
And there's a new AARP report I understand about, you know, analyzing kind of the number of enrollees who are going to be benefited, benefited by this. What did that report find regarding how much people are going to save, really on on average here?

Speaker4:
Yeah. First of all, we realize that there are a lot of people who are going to benefit from this. We took a look at how many people would benefit between 2025 and 2029, and we found that more than 3 million people are going to hit the cap in 2025, and that number is going to grow to over 4 million by 2029. So we are talking about millions of people who are going to benefit from this new cap. And in terms of savings, on average, about 40% of those people are going to see annual savings of $1,000 or more. But there are some people who are going to see savings of $5,000 or more. So really some important and big savings. To your point, for people who are on fixed incomes.

Speaker1:
Yeah. And of course, this, um, you know, is coming at a time when a couple of big things are happening. Just to say the least, in in the lives of Americans. We've got the of course, the election is happening. That's kind of right around the corner. And the annual enrollment period for Medicare, um, kind of all converging at the same time. You know, Medicare has been, um, one of the issues on the campaign trail as well. This is though, sounds like it's separate from that $35 cap on insulin that we have heard talked about out there, right.

Speaker4:
Oh, it's actually part of it. That law that you referred to, the Inflation Reduction Act of 2022 that was wrapped into there as well. There are a lot of really important protections in there, and the out-of-pocket cap is just one of them. That $35 cap on insulin co-pays is part of it. You can now get free recommended vaccines. There's also Medicare drug price negotiation, which is allowing Medicare to negotiate the prices of some high cost drugs. And we're already seeing that going into effect. So there are a lot of different things that were included in that law that we're trying to make sure people are aware of. And this out-of-pocket cap is just one of them.

Speaker1:
Very good. Anything else that's going into effect this coming year as part of the law that that you wanted to highlight or anything else that you wanted to share about it? Yeah.

Speaker4:
There is another change that kind of works in conjunction with this out-of-pocket cap, and it's something that is kind of new to everyone. It's called smoothing. And what it is, is allowing people to spread their out-of-pocket costs over the entire plan year. So previously, you could have months when you were in a prescription drug plan where you were spending $1,000 or more. And what they're going to do now is allow you to. For example, if you're going to hit that cap spread, that $2,000 cap cost all the way across the plan year. So that can really reduce costs for people who were facing some pretty substantial copays in an individual month and allow them to spread it out over time, which hopefully will help them with their bills and paying for other important things because they'll no longer be facing those high prescription drug costs. So that's going into effect next year as well.

Speaker1:
Wow. Yeah. That's huge. We often talk about in a lot of our, a lot of our programs with the Retirement Radio Network that, you know, it's more about, you know, when say saving for retirement, it's more about having income than it is about that one sort of big lump sum. And so, you know, being able to spread that out over the years seems to be like it would be really, really helpful as far as being able to to pay that with whatever income you have in, in your retirement years.

Speaker4:
Exactly. And that's the intent.

Speaker5:
Very good. Well.

Speaker1:
Lee Purvis with AARP. Where can folks go if they'd like? More information?

Speaker4:
People who want to learn more about this issue can go to Aarp.org part D spending cap.

Speaker5:
Wonderful. Lee, thank you so much.

Speaker1:
For your time. Really appreciate it.

Speaker4:
Absolutely. Thank you for having me.

Speaker1:
I really do appreciate Lee spending some time with me there. And of course, I appreciate you spending time with me here on Take Pride in Retirement. As as always, I say it, as I said at the beginning of the show, I'll say it here at the end. I say it all the time, but I really, really do appreciate you spending your valuable time with me. Can't stress it enough because it really does mean the world. Really really does. Once again, that free consultation for your retirement plan if you feel like you need help or just a second opinion on your particular retirement plan focused on your objectives, your needs, your wants and desires for your retirement. No matter who you are, where you are along life's journey, where you come from, how you identify, who you love, any of those things, no matter anything, I want to help you. So let me help you and get that plan started for you. Go to take pride in retirement.com. That is take pride in retirement.com that is going to do it for this edition of the show. So we'll do it again next time around. And until then take pride in yourselves and take care of each other. We'll see you next time.

Speaker2:
Thanks for listening to Take Pride in Retirement. Members of the LGBTQ plus community deserve to work with the 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. 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. Matt McClure and Active Wealth Management are not affiliated with or endorsed by the Social Security Administration or any other government agency.

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 interests of our clients and to make full disclosures of any conflicts of interest, if any, exist. Refer to our firm brochure, the ADV Two-a, page four for additional information. Any comments regarding safe and secure products and guaranteed income streams refer only to fixed insurance products. They do not refer in any way to securities or investment advisory products. Fixed insurance and annuity product guarantees are subject to the claims paying ability of the issuing company and are not offered by BWA.

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