Winning in Retirement

Investing Cash: Case Study

• Akers Financial Group

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Brian Akers and Nick Molite discuss the importance of investing cash effectively. They emphasize the concept of "cash flow is king" and the need for a balanced approach to managing liquid assets. They introduce a case study about Fred and Wilma, a couple nearing retirement with significant savings but no stock market exposure. Nick explains the rule of 72, highlighting the time it takes for money to double at different rates of return. They also discuss the benefits of diversified portfolios, tax efficiency, and the role of financial advisors in guiding clients through investment decisions. The conversation underscores the importance of having a clear financial plan and understanding the purpose of money.

Unknown:

The following is a pre-recorded show. Welcome to Winning in Retirement with your host, BRIAN AKERS, certified financial planner professional and founder of AKERS Financial Group. Now helping you win in your retirement. Here's BRIAN AKERS.

BRIAN AKERS:

Welcome to Winning in Retirement. I'm BRIAN AKERS from AKERS Financial Group. I'm the president and founder here with me today is Nick Melite. He's a financial advisor at AKERS Financial Group. Good morning, Nick. Hey, good morning, Brian. Nick Melite is a financial advisor at AKERS. He's been in the industry for 16 plus years. Is the plus on there now?

Nick Molite:

There is a plus there now.

BRIAN AKERS:

Absolutely, 16 plus years. So late teenage years in your financial services business.

Nick Molite:

Yeah, pretty much got right out of the cannon into financial world.

BRIAN AKERS:

Nice. All right, so today's show is an interesting show. So Nick has a background that we're going to explain as we talk through the show. We're also has then that background makes him an expert in talking about this topic and makes him an expert in you and him and I having a conversation about how AKERS Financial handles the following, and that is investing cash. We're going to do a case study. We're going to have all kinds of talk about investing cash on the mindset behind cash and mindset behind money in the bank, money that's not invested with risk, and what to do with that money.

Nick Molite:

Yeah, I'm really excited about this topic today, Brian. As you know, I started my career in banking,

BRIAN AKERS:

yep,

Nick Molite:

and you know, as a bank advisor, and

BRIAN AKERS:

just counting money in the vault, right?

Nick Molite:

Pretty much, yeah,

BRIAN AKERS:

that was a dream when I was about 12.

Nick Molite:

So, funny story, you know, the Brinks guys used to come by and bring the cash, and then, yeah, I occasionally help stack that vault. This was prior to my license days, but we would, you know, hold those big pallets of cash.

BRIAN AKERS:

All right, it's

Nick Molite:

pretty fun.

BRIAN AKERS:

That's cool. So, so Nick has a history, and then working with banks and being a financial advisor for banks, and so one thing we're trying to do is just the idea that investing your cash, a lot of people have a different, have different mindsets when it comes to money, and one of the mindsets we want to talk about is people that love cash, they love cash. I'm using the word cash, I'm counting that money in the bank, savings account, checking things like that,

Nick Molite:

things in the mattress,

BRIAN AKERS:

like I'm not counting the mattress and the coffee can in the backyard, your wallet, you know, all those things that I do have clients have done, all that, of course, the shoe box and the gun safe, all those, and I'm not talking about that coffee

Nick Molite:

can.

BRIAN AKERS:

We're talking about money, that's money, it's liquid in the bank, of course. And the thing would be, is this people say cash is king. What's your thoughts on that little saying? Cash is king.

Nick Molite:

I think cash flow is king.

BRIAN AKERS:

Oh yeah, I like, I like cash flow is king.

Nick Molite:

Cash or king is, is like, you're, you know, you're in charge, you're the ruler, you know, you have paramount power.

BRIAN AKERS:

I use the word cash is king when a client comes in and says, "Hey, Brian, we're going to move out of state to retire. My response is, "Cash is king, it's gonna cost you money, both sides, you got to sell, you got to buy, you got to move, all costs you money, the more cash the better, and so the idea of cash is king. Is that that means it becomes a number one priority, and investing is to build enough cash to pay the bills.

Nick Molite:

Yeah, and well, also cash gives you options.

BRIAN AKERS:

Yep,

Nick Molite:

right. So when opportunity does present itself, and you have adequate cash, right, you have options,

BRIAN AKERS:

but there is such a thing as too much, and that's really what your case study is about, right?

Nick Molite:

Oh, yeah, absolutely. Let's

BRIAN AKERS:

get right into that case study about about cash, and tell me about your story. Did you make up names to protect the innocent?

Nick Molite:

No names necessary, right? So we'll keep it conceptual.

BRIAN AKERS:

No, Fred and Wilma, nothing like that.

Nick Molite:

We can call them Fred and Wilma. All

BRIAN AKERS:

right, let's go to Fred and Wilma.

Nick Molite:

Yeah, but let's just say, for example, you know, Fred and Wilma are, you know, getting to that retirement cornerstone, and they're thinking about retirement. They're getting close, and they sit down with a financial advisor and realize they never invested in the stock market

BRIAN AKERS:

their whole career,

Nick Molite:

their whole career. Now they invested in retirement accounts, but as you know, Brian, you know you can keep cash or CDs in retirement accounts,

BRIAN AKERS:

that's what they had,

Nick Molite:

that's what they've always had,

BRIAN AKERS:

all right. So they never took a risk with their money, the risk of losing,

Nick Molite:

correct,

BRIAN AKERS:

ever. And so we're, did they have enough to retire on?

Nick Molite:

Well, they do, but of course you know it's not as clear of a picture, as it would be if you know we had more of a more substantial base, if they would have been investing for the last 2030

BRIAN AKERS:

years. Yeah, so that's a very important topic, which we're going to cover later in the show, is called the rule 72 When you make a decision on the risk level you take at 3% takes 24 years for your money to double, and that could be a lifetime for some people, 24 years of money sitting there,

Nick Molite:

and 3% you know, that's

BRIAN AKERS:

pretty good. Now

Nick Molite:

it's not bad.

BRIAN AKERS:

I have people making zero on there in the cash, and we have a conversation like we're getting ready to have here.

Nick Molite:

Oh yeah, in the banking world, point 01 is a number that you see often,

BRIAN AKERS:

yeah, yeah, um. Right, okay, so the case study is all about this couple, Fred and Wilma, and they really never put it into the market their whole career, and so the conversation would be, is they also did that with all the money outside of retirement, all their cash.

Nick Molite:

Yes,

BRIAN AKERS:

I also assume they don't have any debt and they live very frugally. Is that all fair?

Nick Molite:

That is correct, and that's definitely helpful in this case, that's the

BRIAN AKERS:

only way for that to work out, right.

Nick Molite:

Well, yeah, I mean, you know, you look at the situation and you think, okay, well, we need to be more aggressive with our investments, or we need to save more aggressively, or we need to spend less, or perhaps a combination of all three.

BRIAN AKERS:

And one of the things I like to say is, in investing your money, there's two ways of doing it, if you want to make more money on your money, you got to take more risk, or you got to commit to more time, where you lock money up,

Nick Molite:

correct?

BRIAN AKERS:

If we keep money all liquid and short term and protected and no risk at all, you're going to earn the lowest rate, you're going to earn below a risk-free rate of return,

Nick Molite:

and you know it gives you this false sense of comfort, in my opinion, right? You know, your money's in the bank, and, oh yeah, it's earning this great interest rate, but relative to the cost of goods and inflation, you know, you have a great term, Brian, when it comes to, you know, CDs,

BRIAN AKERS:

yeah, well, CDs, I call it constantly depreciating, because the concept of making money is, you got to beat inflation after tax, and most CDs on the short term, like a one year is priced to basically barely beat inflation and never beat it after tax,

Nick Molite:

absolutely. And money

BRIAN AKERS:

doesn't make any money on your money,

Nick Molite:

so after tax means if you say get a 4% interest rate on your CD, but you're in a 25 24% tax bracket. What are you really getting at the end of the day?

BRIAN AKERS:

3%

Nick Molite:

right?

BRIAN AKERS:

That's it. If you live in Florida, because you don't pay state, Maryland, we get to pay state also on your on your CD, correct? And so you end up having less than 3% effective yield on your CD, net real rate of return. And the idea is, is that really investing? And I usually would say it's not. It's parking your money,

Nick Molite:

of course. Yeah, it gives you that again, that false sense of car. We've

BRIAN AKERS:

had a lot of conversations about your career and what happened, and then why you're a financial planner now, an independent financial service advisor, able to do more things. Now, when you're part of banking, I know that there's tellers, and then they refer people to financial advisors, and so there's like what I want to do is just talk about an idea of some companies will basically design products to fill in the gap, so when someone comes in and says I have, if they say they have extra cash, and then they, then they come meet the financial advisor, and that's when you start talking about investing in a non FDIC, non-protected account, and that's when the advisors come in.

Nick Molite:

Yeah, non-traditional bank products, right? So, talking about, you know, things in the market, mutual funds, ETFs, insurance, annuities, things like..

BRIAN AKERS:

yeah. So, one of the things you would teach the tellers to identify, there's three things you tell them about, and that would be the people have money in the bank, they look at what are those three things.

Nick Molite:

Yeah, the acronym I would use is Tim, T I M, right? Looking for our good friend Tim, and that's really how we can differentiate, you know, who's a qualified person to talk about investing time, interest in money.

BRIAN AKERS:

All right, so time would be they would know that the teller wouldn't know if the person has time to commit, that they don't need this money back, right?

Nick Molite:

Yeah. Well, of course, you want to make your, you want to give your investment time to work for you. Yep, right. You don't need that immediate gratification, right. It's the concept of delayed gratification, allowing that money to work hard for you and giving you the time to do

BRIAN AKERS:

so. And then interest, interest is not on the money, but interest in interest in possibly changing at all, right.

Nick Molite:

Well, that's it's it's not your interest rate, right? It's you having interest in learning more about non-traditional bank products.

BRIAN AKERS:

And then the third thing is money. What do you mean by that?

Nick Molite:

Money, you have to have, you know, you have to have that cash, or what do they say that they call it dry powder?

BRIAN AKERS:

Yeah, you have to have some dry powder to put to work, right?

Nick Molite:

Yes, but above and beyond your emergency funds that hopefully you already have established. If not, we can help you to build that out.

BRIAN AKERS:

Yeah, so the bank path to investing would be, make sure you have the time, make sure you have an interest in taking a little bit of risk and have some money to actually do it, correct? And then that leads to a product being sold that filled the need, and I just want to say that, and not to say that that's wrong. I think it helps people to get them started and get them going. A financial advisory, financial planning is going to be different. That we are trying to drive from the very beginning, what is the purpose of money? Trying to drive, do we have enough cash. What is your short-term goals? Know all the facts, so that we can come to them and say, all right, because of everything's in place, you can do this.

Nick Molite:

Yeah, exactly. And you know that's what I've noticed as I've progressed throughout my career, you know, kind of that organic transition from product to process.

BRIAN AKERS:

Yep,

Nick Molite:

and that's what's most important. What's. Is important is the process,

BRIAN AKERS:

that's why we got you here.

Nick Molite:

That's right

BRIAN AKERS:

now. This process of planning is not easy. It's information. It takes multiple meetings. It's not a quick hello and sign here and you're done. It's a process, and you're enjoying the process.

Nick Molite:

I love the process, and I look forward to the ongoing process as well, because you develop that relationship, and again, as you said, it's not one and

BRIAN AKERS:

done.

Nick Molite:

You have to stay on top of it, keeping communication, keep the relationship open. We need to make sure that the process is working, and if life changes, well, then we need to adjust the process as well.

BRIAN AKERS:

What Nick's referencing there is, there are some cases where you might have someone that sold you something, and then that's it. There's no relationship long term. The difference in financial planning and financial services that come through independent financial advisors and financial planning is we want to be your advisor. We want to meet you this year, next year, every year, because your life's going to change. Things are going to be good years, they're going to be bad years. There's gonna be years when you know things will start breaking. You're gonna need to build your emergency fund up. We're gonna have to milk the cows, like I talked about many shows. Milk the cows, get the money in the money market to do when we have too much money in cash. As financial advisors, we say we're fine, let's invest some of that, and then we help you invest it over time. This show is all about all of these things. Why do you have money in cash? How much do you have? Do you have enough? You might not have enough, so you might have that. Might have to be your first priority in your financial life. Secondarily, what you might say is, I have more than enough. I don't know what the next step is. That's when financial planning and financial advice ties in. All of this works well together. We want people to win in their retirement years, and I, by doing that, we want them to be very happy with everything that's going on their retirement, because we know the best part of retirement is getting your time back. Where you decide how to use it before retirement, your time is tied up with other commitments, you know, mainly your job. A lot of that goes away in retirement. Your time is now consumed by things that you want to do. It's so easy to begin winning in retirement. Go to our website at AKERS Financial group.com scroll to the schedule meetings section, and let us know you'd like to schedule a free consultation with one of our team of advisors right there. That's AKERS Financial group.com or you can call us at 833 win retire, that's 830 3w I N R E T I R E. We'll give you a call on Monday to schedule your free in-person meeting. Go to AKERS Financial group.com or call us at 833-946-7384 to start planning for your retirement now. What is your sleep factor? We'll explain this when we return.

Unknown:

You're listening to a pre-recorded show. Welcome back to Winning in Retirement. Call 833 win retire now to schedule a visit with Brian and his team and begin winning in retirement once again. Here's BRIAN AKERS.

BRIAN AKERS:

Welcome back to Winning in Retirement. I'm BRIAN AKERS, President and Founder of AKERS Financial Group, and we welcome you to our radio show podcast, Winning in Retirement. This is the second quarter. I'm here with Nick Melite. Nick Maliti is a financial advisor for AKERS Financial Group. He originally started his career in the banking industry and became a financial advisor there, and now he's more an independent advisor through AKERS Financial Now, and Nick is talking about our topic called investing cash with all the goods, the bad, and anything else that we can talk about, about how you make decisions about your cash. Now we're going to start the second quarter. Is this question, what is your sleep factor, Nick? What you think about sleep factor? Yeah,

Nick Molite:

I thought I thought about this, you know, Brian, I have three kids, my oldest is 13. Yeah, I haven't, I haven't had a good sleep factor in about 13 years,

BRIAN AKERS:

sleep factor, so I have a client, the client, let's call him that, sure, name to call him, let's call him Seymour, and so Seymour, Seymour is a guy that has a certain thing about him, where, when I first met him, he did not want to invest any money until he felt comfortable, and then he goes, "You know, no, Brian, I want my comfortable to be my sleep factor, so I can sleep at night. I need to be able to sleep at night, and Brian, I just need to sleep at night. Then, after that, then I can invest money. And I said, "Well, what is your sleep factor? What's the number, and then I have to figure that out. The next meeting tells me is$100,000 he needs to have in the bank for him to have a good night's sleep. I said, okay, well, let's work on that and build that first and make sure everything's all right. So we worked on that, we got there, I got to the sleep factor number, and I said, you ready to invest money? I'm not sure

Nick Molite:

that's a pillow money.

BRIAN AKERS:

Well, there's the idea of can I afford risk or not.

Nick Molite:

Yeah,

BRIAN AKERS:

sleeve factor is really what I want people to think about, is emergency fund. I'm okay because I have, I have a support to back me up.

Nick Molite:

Yeah, if an emergency were to come up. Yeah, and you run to the bank, and you can pull cash out very quickly, and take care of that emergency, right? But what type of emergency would that be?

BRIAN AKERS:

That's everything, right? I mean, it's like the thing I tell people is, you know, like when your car breaks down, it costs 1000 bucks, now tires, 8000 bucks, it's like their number is 1000 bucks, hot

Nick Molite:

water heater,

BRIAN AKERS:

that's $2,500 That happened to

Nick Molite:

me recently,

BRIAN AKERS:

and then there's just everything breaks, costs money, and your insurance policy. You don't want low deductibles, because you're not going to turn in small claims. You need high deductibles, and so high deductible, you need a cash to cover the deductible,

Nick Molite:

of course. And

BRIAN AKERS:

you don't want to just go in debt and use your credit cards, you don't want to just use your home equity loan. Some people say that, hey, I have home equity loan for that. I don't have to worry about it. Well, the problem is, is that if we use debt for all the short-term problems, you become a debtor, not a saver. A saver is someone that's prepared for issues that are going to happen, because they're going to happen. There's going to be a knock on the door. This year's been a big year of the technology industry getting knocks on their door, saying you got a month, you got 60 days, you need to find another job, because we're cutting this out completely at our company.

Nick Molite:

Well, that's what I was going to say. You know, that's another big emergency, short-term disability, or you get released from your job,

BRIAN AKERS:

right?

Nick Molite:

Right, how are you going to cover your bills? Do you have six to 12 months? Is that the number,

BRIAN AKERS:

six to 12 months? What do we think?

Nick Molite:

That's the number we like to use when you make sure you have a year's worth of spending

BRIAN AKERS:

in retirement, I like it to be a year, absolutely. If someone has their job almost ready to go, I think 12 months. I think if you have a very secure job, maybe three months on the light end, but you need to have some other liquid money. Six months is good, so six months of what?

Nick Molite:

Six months of spending.

BRIAN AKERS:

All right, so what you, what you spend, yeah, so like you bring home, and what you spend is probably what you bring home.

Nick Molite:

Well, yeah, and it depends on how much you're saving, but what I, what I ask my clients is, you know, what does it cost on a monthly basis to be you, inclusive of your obligations, so your mortgage and your bills that you pay, but then also the other things that you do to enjoy your life.

BRIAN AKERS:

Just quick, quick advice I got to give people is don't leave it all in your checking account, right? Because some people do that, and as a banker, isn't that high risk, very high

Unknown:

risk.

BRIAN AKERS:

And what's the risk of?

Nick Molite:

Well, this I just had this conversation the other day with the client, right? If someone gets a hold of your debit, debit account number or debit card number, or silly, right,

BRIAN AKERS:

they'll test it, right?

Nick Molite:

Oh, of course,

BRIAN AKERS:

then they'll go for a big number, but

Nick Molite:

if they clean out your checking account,

BRIAN AKERS:

right,

Nick Molite:

it's very hard to get that money back. But have you ever had an instance, Brian, where somebody got a hold of your credit card information?

BRIAN AKERS:

Absolutely.

Nick Molite:

And you got a call from the credit card company.

BRIAN AKERS:

Yep, this doesn't look like you.

Nick Molite:

And they say, BRIAN AKERS, did you charge $6,000 in Europe on train tickets? Nope, nope. And how long does it take to have that process or that transaction canceled, and then you're not held liable for that cash, or for that money? It's

BRIAN AKERS:

amazingly quick if the internet's working, if it's working right, exactly.

Nick Molite:

But when you have substantial cash in your checking account, my fun,

BRIAN AKERS:

my funniest story was taking my daughter to college. We stopped at three Walmarts in two different states on the way to college, you got

Nick Molite:

a phone call

BRIAN AKERS:

by the second one, they're denying my debit card at Walmarts inside to switch to a credit card because I was just trying to buy things as we wanted loaded in the car and kept going. That's funny, it was funny, but it was sad. I couldn't buy my Walmart stuff, but you

Nick Molite:

know, but you kind of have, you feel good that they're looking out for you, yeah. Right,

BRIAN AKERS:

it's a good feeling. It's not fun when you're trying to charge, you get declined, but it is the right thing. But when there's an oddity in your transaction, what happens, though, is some people, they put all their emergency fund in checking. A simple thing is, move it to savings, put it into something a little different, so there is some in between the ability to pull all your money out of your account,

Nick Molite:

and you're not really earning any interest in your checking account. Yeah, either, right? So, you're not getting any bang for your buck in that regard.

BRIAN AKERS:

Absolutely. So, what we're going to talk about with emergency funds and having a good safety there, the strategy of investing that money is a very important thing. We got to talk about, we got to talk about the emotions of security. Oh, it's in the bank now. The bank has FDIC. Explain FDIC to everybody if you can.

Nick Molite:

FDIC is where the, if the bank were to essentially fail, right, bank becomes insolvent,

BRIAN AKERS:

right?

Nick Molite:

Right. And you want to get your cash out, how do you get it? Who, who covers you, right? It's the federal government,

BRIAN AKERS:

the Federal Deposit Insurance Corporation, and there's limits, 250,000 per person that are on the account.

Nick Molite:

Yeah, and there's there's ways you can structure that, where you can increase the limits, but

BRIAN AKERS:

I struck, I explained one couple recently, they had money, about half a million in the, in the money market on FDIC, and then I, it was in their trust, and I said, you got four beneficiaries of the trust. The actual FDIC limits 1.2 5 million for that bank, so that's not a bad thing.

Nick Molite:

It's not a bad thing, but the question is, you know, do you really need that much cash? But I tell you, Brian, in banking as well, clients that would look for good rates, right, and they would spread. And they were looking for FDIC, next thing you know, they have relationships with seven to 10 different banks. Yep. Well, that, that can create a messy estate plan as well.

BRIAN AKERS:

Absolutely. Then you got to unravel it by taking the.. I've had a client take his father to the bank to unravel them, sure, because he.. that was his full-time retirement job, was going to visit everybody at the bank. He enjoyed it,

Nick Molite:

and if you don't know which banks they're invested in, you basically, you know, I've told clients before, you have to wait for the mail to arrive. All right,

BRIAN AKERS:

so we have, we have FDIC through banks, if that's a federal deposit, it's the US government supporting it, backed by what they charge the banks to be able to pay for it. FDIC has money, but a limited amount of money, because it has had to pay claims over the last 15 years through different issues all around the country. The hard part is that that is a protection backed by the government, so your banking your CDs, the money market through a bank, you got to make sure it says FDIC, of

Nick Molite:

course.

BRIAN AKERS:

Money markets are not always FDIC a money market through a brokerage account might not be especially if it pays higher interest, so you do need to ask, is it FDIC? Is it not? Now, if the money's invested in treasury bills and government bonds, they're not an FDIC,

Nick Molite:

no,

BRIAN AKERS:

they're backed by what?

Nick Molite:

Well, the full faith and credit of the US government, right,

BRIAN AKERS:

which is end up being the same thing as the FDIC. Right, it's just a little longer process if you're, if there was some problem. So, treasury bills, treasury bonds, those kind of investing, I share I bonds through the Treasury Direct, things like that have the backing of the government, so they are considered protected, guaranteed by the government, which is considered safe,

Nick Molite:

yeah, it does give you a certain level of comfort knowing that your money is backed and protected.

BRIAN AKERS:

And currently, CD rates about one year are a little higher than a one year treasury. The 10 year treasury gets a little bit higher, but these rates are constantly changing as the Federal Reserve meet at different times. Rates can go up, rates can go down, but the key thing here is when we have money to invest. If we're in CDs, CDs have they get a 1099 and interest 1099 It's fully taxable. A treasury, because it's federal government, the tax advantage is no tax on in Maryland, so that's a little bit of tax advantage. So, if treasury and CD were the same rate you get on treasury the advantage because it's you don't pay tax in Maryland,

Nick Molite:

yeah, and that's great if you're a Maryland resident, however, if you're out of state, some, you know, some states don't, you don't have to pay state income tax,

BRIAN AKERS:

absolutely. Now, the difference between banks and insurance companies, insurance companies do not have FDIC, they do not have government backing, they just have on the fixed annuity side, fixed side of with insurance companies is the backing of the assets of that company, of the insurance company.

Nick Molite:

Yeah, I mean, you want to make sure you look at the rating,

BRIAN AKERS:

yep, absolutely,

Nick Molite:

and the rating is reflected upon their backing, you know, how strong is their, you know, the general account,

BRIAN AKERS:

right? So when you talk about not talking about investing, but have emergency fund and money in there. What you got to do is really think about what to do with your money. Now, I think you have a farmer example of what to do with your money, don't

Nick Molite:

you? Yes, I do. You know, when you have a lot of cash, it's like a blank canvas, right? What do I.. what do I do, right? You kind of get kind of caught like a deer in the headlights, but when you have too much cash, right? It takes me back to a term or a phrase that I heard early in my investing years. Is it's like a farmer with manure, yeah? Right. And if that farmer allows that manure to accumulate and pile up over time, it starts to really stink. Very true. Yeah, but if that farmer then takes that manure and spreads it out,

BRIAN AKERS:

yeah, and

Nick Molite:

spreads it around. What happens?

BRIAN AKERS:

It's really stinky that day. He spreads it out.

Nick Molite:

It is stinky that day too. But then things start to grow.

BRIAN AKERS:

Oh, okay, right. All right, so the key thing here is spread it out. If you spread things out, they'll start to grow, and that's the difference in having your piles all in one pile that stink,

Nick Molite:

and then you can harvest. There's probably farmers out there rolling their eyes right now. Yeah, they're like they

BRIAN AKERS:

butchered that example. Yeah, it's okay. I might.. I have been with my cousin on a farm in the manure pile before in a tractor. I'm sure it is stinky, right? Very true.

Nick Molite:

Well, now you're gonna start thinking about this conversation next time you're out there.

BRIAN AKERS:

Absolutely, all right. AKERS Financial Group, we are diversified in many different ways, and then diversified in our conversation. We've been talking about investing cash. We think that's incredible, that you invest your cash for the long term, you invest your cash with purpose. At AKERS Financial Group, we're local, we're independent. We don't report to a big company on Wall Street, we report to you, we do have offices in Lutherville, Farsill, all around the Mid-Atlantic region, clients all around the country, even a few around the world. It's so easy to begin winning in retirement. So, just give us a call and schedule your meeting with one of our team of advisors. Call 833 win retire at 833 W I N R E T I R E. We'll give you a call on Monday to schedule your free in-person meeting. Go to AKERS Financial group.com or call 833-946-7384 to start planning for your retirement now. Are you working for your money or is your money working for you? We will talk about this when we return with more of Winning in Retirement.

Unknown:

You're listening to a pre-recorded show. Welcome back to Winning in Retirement. Call 833 Win Retire now to schedule a visit with Brian and his team and begin Winning in Retirement once again. Here's BRIAN AKERS.

BRIAN AKERS:

Indeed, welcome back to Winning in Retirement. This is BRIAN AKERS. Here with me today is Nick Maliti. We're doing a show called Investing Cash. We've done a case study. We've had our talk about the investments people could do. We had your talk about manure, manure stinking, but if you spread it out, it causes things to grow. So we've learned a lot so far in our show. Here in the second half we're going to try to apply this to many different ways for our clients, for people that are listening, and the clients that we currently have that we already do all this for. So, at AKERS Financial Group, we are financial advisors, we're independent financial advisors through our broker dealer, our Arcadia's Capital, and Arcadia's Wealth is our investment or investment advisor representatives are there as we talk today. Understand that there is the idea of investing, and we're going to differentiate the word investing and parking, leaving your money in the bank. So we're going to begin the conversation by my comment: Are you working for your money, or is your money working for you? So, you mentioned early on the amazing rate of point oh one.

Nick Molite:

Yes,

BRIAN AKERS:

and when will that double in people's lives? Never. No,

Nick Molite:

how will it? Will it be able to double your money? Yeah. Oh God, never. A couple 1000 years, maybe.

BRIAN AKERS:

So, the idea is, if your money is in an account making point o 1.04 or anything like that, it's never going to double. It's never going to work for you. It's just gonna be a parking place,

Nick Molite:

of course.

BRIAN AKERS:

And so, the idea of money working for you is where this money, you basically give it a job, and that job is, hey, you go get your 4% or three and a half percent interest, whatever, and next year you'll be worth three and a half percent more, and that's okay for liquid money that purpose.

Nick Molite:

Yeah, well, I mean, there's there's value in that, right? And that's that's what you need, you need to see. And just going back real quick with that interest rate, I think listeners out there today, need to know, do they all know what their interest rate is on their savings account?

BRIAN AKERS:

Yeah, are

Nick Molite:

they getting point 01 are they maybe getting two, three? Right.

BRIAN AKERS:

Absolutely, I'm totally off script, but there's these lawsuits out there for stock brokers and things like that, because of something called a sweep account. It's a in a brokerage account, it's a money market that pays lower interest, but the brokerage firm and makes the float the money above it. And then what has to happen in brokerage accounts is you have to trade to a different money market out of the sweep account to make more interest for your clients, and it's a hard job to keep that up, but there's been this fundamental thing of people making a lot of money off of float. We're not gonna try to have a show about that, but you need to know where your money's invested, even your cash.

Nick Molite:

Yes,

BRIAN AKERS:

that cash needs to be working for you.

Nick Molite:

It does, and as you said, a parking spot, right? So that brings up a term, you know, why are we investing in a short-term solution when we have a long term problem, right,

BRIAN AKERS:

that's pretty deep there, or a long

Nick Molite:

term need.

BRIAN AKERS:

I like the long term problem,

Nick Molite:

right,

BRIAN AKERS:

but it's a problem when we say, hey, to do the job, I'm gonna put my money at point oh one interest, and then I'm gonna be able to retire.

Nick Molite:

It's not working very hard for you, then.

BRIAN AKERS:

Then the math goes like this: we need 2 million, you need to save all 2 million, because that money is going to do nothing for you,

Nick Molite:

exactly.

BRIAN AKERS:

If we start younger in life, and we use the concepts of how your money can earn money, and we talk about doubling. If you go from savings account to CD, all sudden from never doubling, it doubles in about 24 years. So, the younger you are, you might get one double, one and a half double, so your $1 might become two to three bucks during a lifetime if you leave it in a CD, but it's not going to be money that does multiplication like the stock market. What kind of, what kind of doubling does the stock market do, Nick?

Nick Molite:

Well, that all depends if we're looking at individual stocks right with high risk. If a stock can double, right, the likelihood there, it could be, could be rather quickly, but you could also lose your money very quickly as well. So, the rule of 72

BRIAN AKERS:

what does that do for us?

Nick Molite:

Oh, well, the rule of 72 So, the way that I explain it to my clients is they say, all right, Nick, how long will it take me to the. Well, my money, and I say, well, that depends on your rate of return, right? So, if you are, say, getting a 7.2% rate of return,

BRIAN AKERS:

yep,

Nick Molite:

right, you take 72 divided by 7.2 that gives you 1010, years. So, at 10 years, at an average rate of 7.2% you'll double your money.

BRIAN AKERS:

So, if you're 30 and you have $1 it'll be $2 by$44, by 50, it'll be $8 by 60.

Nick Molite:

You get a cup of coffee when you're 60 years old.

BRIAN AKERS:

You might want to invest, put zeros behind the one, but the idea is 7.2 actually gets that money getting somewhere, and the money does work for you rather than you working for the money, you need that money to work for you,

Nick Molite:

but now that 7.2% you can't get that in a fixed

BRIAN AKERS:

account. In a risk-free rate world, we're at the at a 10 year rate, we're at four, 4.2 In the short term, we're at three, three and a half, maybe one of the guarantees. Beyond that, everything, everything that pays more than that has risk to it. Risk, when we talk about risk, is risk of losing your original principle, risk of losing your money.

Nick Molite:

Yeah, and well, and when you avoid risk, you avoid the other R word, which is reward.

BRIAN AKERS:

Absolutely, because there's this concept. I went Virginia Tech, you knew that Virginia Tech finance major, let's say a long, long time ago.

Nick Molite:

Okay,

BRIAN AKERS:

that's the best way to put it.

Nick Molite:

Sounds good.

BRIAN AKERS:

80s was probably when I went, maybe. But at Virginia Tech as a finance major, we learned a concept of real rate of return. Real rate of return is we got to beat inflation and we got to pay our taxes, that's all the time, because you got to keep up with just what your bills are,

Nick Molite:

costly goods.

BRIAN AKERS:

If your money does not beat inflation, then you're not keeping up with the original money, you're losing your power of your money,

Nick Molite:

losing slowly. And that's kind of

BRIAN AKERS:

like a frog in a warm water,

Nick Molite:

yeah, right? Or it's ninja-like, you don't see it happening,

BRIAN AKERS:

yeah,

Nick Molite:

right.

BRIAN AKERS:

But it's gone at some point in time, usually 12 years out. Boston, your retirement, 12 years out, and you're wondering, hey, I can't pay all my bills, I need more money on my portfolio. And then we're like, hey, we're going to use more than we're producing, because we didn't take any risk, and this is all it can do for you.

Nick Molite:

Yeah, I mean, we do the same thing with our projections for our clients' spending needs, right? I'm going to increase your spending need by 3% every year,

BRIAN AKERS:

right? I use for a 40 year average inflation rate of 3.72 and I use that number to project to the future. That means around almost 4% That means your cost of living doubles every 16 years. Will your money keep up with that?

Nick Molite:

Yeah,

BRIAN AKERS:

my argument over time is that if you are sitting in cash, it's parked, it's not invested, it's not money you're going to live off of. A lot of times, I totally exclude that in retirement planning, because we're going to always need cash. We don't count that for living off of it.

Nick Molite:

That's right. I mean, we've done it in our seminars when we've shown the illustration that cost of a house has increased by 10 times in the past 50 years.

BRIAN AKERS:

Yeah, thing I tell people is, like, my parents bought a house 1969 and they bought a minivan for double the price of that house, and it's like, what's going to happen nowadays? Yeah,

Nick Molite:

but that didn't happen all at once. It happened slowly over time.

BRIAN AKERS:

Yeah, 50 years, but 50 years is a career and a long and a good long retirement. Your money got it, it's got to keep up with you, it's got to keep up with the cost of living, cost expenses. It's gotten very expensive the last decade, inflation hits us, gas prices, all kinds of things, causing or costing more money.

Nick Molite:

Yeah, the grocery store used to be an enjoyable experience, slightly therapeutic, at least for me. Yeah,

BRIAN AKERS:

so we have clients, they have money in cash, and we get through the emergency fund, we get through short-term things they need, and we get to a point where they understand they need to take some risks to have a real rate return, and then they want to start investing, and we're going to start investing. If they've been all cash their whole life, I think they ought to be very cautiously investing into the market, not don't go all in at once.

Nick Molite:

Absolutely, you ease in to it,

BRIAN AKERS:

and so we use dollar cost averaging as a process of getting people into the market over a year, 18 months, and that's where you put money in a little bit every month, every quarter, and by the volatility of the market, because we don't know if the market's going straight up from here sideways down, we just want to buy over time because we don't want you to put your money in, and also you see a 14% normal market correction, and you're panicking, you get right back out, because that was your first toe in the water.

Nick Molite:

Yeah, and we've, you know, we've seen a lot of volatility in the market recently, so yeah, of course, you have a couple

BRIAN AKERS:

months, it's different.

Nick Molite:

Yeah, and I think the concept of dollar cost averaging, number one, some clients don't even realize they're already doing it.

BRIAN AKERS:

Where are they doing it?

Nick Molite:

And their retirement accounts at work, and their 401 ks, because

BRIAN AKERS:

they're buying every paycheck. In previous shows, what I've said is that that's a great thing to have dollar cost averaging and buy the market with those contributions, because you want to buy that volatility, you almost want it down when you're buying.

Nick Molite:

Yeah, it's a sale day.

BRIAN AKERS:

Actually, I do want it down. Course, yeah,

Nick Molite:

we, you know, on payday, if the market's down, we're getting in at a discount,

BRIAN AKERS:

yeah, yeah.

Nick Molite:

And then the other, the other concept of that is, you know, we're, we can't try to really time the market, right? And the cliche term is time in the market,

BRIAN AKERS:

absolutely not

Nick Molite:

timing the market,

BRIAN AKERS:

yeah. So that's slow and steady wins the race, dollar cost averaging over time, compounding interest, all of that. That's the delayed gratification, right? It's not going to give you that immediate satisfaction, but you're doing the right process. But everybody wants to get enriched quick, and they all have that new, newest, hottest idea, and they got a new way of doing it to day trade to make a lot of money. Now, some people found ways to make money like that. Yeah, that's not the average person, that's a rare person who, that's their business, that's what they do. They're trading certain, certain indicators, and they're making it work that way. We have portfolio managers that do the work for us like that, but we're also not supporting market timing, day trading in it, in the way we invest. We want to be long-term investors over time.

Nick Molite:

Oh, of course. And then you're also taking high risk in that regard, and because

BRIAN AKERS:

they go in the day type trading, you're actually trying to make a good buy decision, a good sell decision. Yeah, and you can mess them both up before you know it, you're upside down. Correct?

Nick Molite:

I call it double Dutch. You got it, you know, you're waiting to jump in, and then you don't know when to jump out, and you don't want to mess up, and you have to continue

BRIAN AKERS:

propane game, right?

Nick Molite:

That's right.

BRIAN AKERS:

Yeah, not.. not.. I don't say that anymore.

Nick Molite:

No.

BRIAN AKERS:

All right. So, what we've been talking about here is

this:

are you working for your money, or is your money working for you? Now, the money working for you, we want to recommend that you build a more diversified portfolio, you spread it out, that causes things to grow over time, and that'll help you beat inflation after tax. That's the idea of real rate return. That's how we try to take these ideas, these concepts, building your permissions, building your security, and then we start taking risks with money that you can take risk with. That's how we do it.

Nick Molite:

That's a great line, money that you can take risk with,

BRIAN AKERS:

we do this all the time with our clients. We do this for a living, so you don't have to figure all this out, because we help you. We love doing it, right, Nick?

Nick Molite:

That's right. Love being able to help it. Planning

BRIAN AKERS:

for us is something that is first in our mind, because once we do planning and understanding what's going on in your life, we can then knock down the exact answers, the exact recommendations, what to do, because it'll be taken care of, it'll be planned for, and that helps take care of whatever goes on in your life. We plan for this, we're going to be okay. Perhaps you've been sold something, regardless of whether you needed it or not. A knot at AKERS Financial Group with us, your retirement money follows your financial fingerprint. It's a retirement plan based on your unique fingerprint that determines where your money goes. It's not about us, it's about you. So, go ahead and give us a call at 833 win retire and schedule a free in-person meeting with one of our team of advisors, that's 830 3w i n r e t i r e8 33 nine. 946 7384 or visit our website at AKERS Financial group.com What is your purpose for your money? We'll explain this in a moment.

Unknown:

You're listening to a pre recorded show. Welcome back to Winning in Retirement. Call 833 win retire now to schedule a visit with Brian and his team and begin winning in retirement once again. Here's BRIAN AKERS.

BRIAN AKERS:

Welcome back to the fourth quarter of Winning in Retirement. I'm BRIAN AKERS, certified financial planner practitioner from AKERS Financial Group. Here with me today is Nick Meleti, financial advisor from AKERS Financial Group. Ready to go? Fourth quarter, Nick?

Nick Molite:

It's fourth quarter, hands up.

BRIAN AKERS:

Fourth quarters are incredible, especially massive comebacks. I love them. I think it's wonderful in any sport to watch the fourth quarter. Now, what we're doing today is you're watching the fourth quarter, but if you missed it, you missed the first three quarters. Go to our website at AKERS Financial group.com that's a K E R S Financial group.com and go to the radio podcast tab, and you can follow our shows that we've done throughout the past many, many, many hundreds of topics there. Listen in, and you're able to understand our mindset. And then give us a call. All right, today we've been talking about investing cash and the concepts of investing cash, and then how to actually do it. How do we do it at AKERS Financial Group? It all ties into our topic of the fourth quarter, and

that is this:

Do you have a purpose for your money? All right, Nick. So, when you're meeting with clients, you ever cut start with this, or how does.. how do you bring in this in a first meeting about purpose for your money? What's your way of doing that?

Nick Molite:

I think the best way to ask is, what's your goal for this money? Do you have a specific goal for this money, and that opens up the conversation, right? If you don't have a goal, well, then we need to talk more about the big picture plan, but you kind of use that bucket strategy, right? I have this money put aside for this purpose, you know, I used to see it in. Banking with Christmas Club accounts,

BRIAN AKERS:

yeah, right.

Nick Molite:

You'd see that, and clients would have money that they were saving. Explain

BRIAN AKERS:

Christmas clubs, right?

Nick Molite:

They even still do those anymore.

BRIAN AKERS:

Some of them do,

Nick Molite:

but it's a separate savings account where you just kind of squirrel away money to spend at Christmas time.

BRIAN AKERS:

Did you make interest on those?

Nick Molite:

You would, yeah, a little bit.

BRIAN AKERS:

So it's like a little separate saving, and you put so much in at the beginning of the year, or do you put so much a paycheck? How does that work?

Nick Molite:

Everybody does it differently, but I think the concept is to compartmentalize that money, take it out of your day-to-day checking, your normal savings, right, because that money is specific to a certain goal for Christmas spending.

BRIAN AKERS:

I have clients that allocate among 20 different accounts, because they budget everything, almost like an envelope system. People used to cash their ship paychecks out and put in envelopes for their budget, right? And now they do it digitally with accounts. Some just do it on spreadsheets. There's all kinds of ways to manage their money. Yeah, but purpose in that case is managing the day to day, so their heads down. What we wanted people to do is look up what's your purpose next year, purpose of this money down the road. Are you truly providing for your future self by putting some money out there?

Nick Molite:

Yeah, and I think I think goals are super important everywhere in life, especially when it comes to investing, but you need to segment short-term goals, midterm goals, and long-term. What's

BRIAN AKERS:

midterm? How many years?

Nick Molite:

Oh gosh, I mean, I usually use midterm as anything, you know, before retirement,

BRIAN AKERS:

before retirement, so not like two years or three.

Nick Molite:

I mean, yeah, that somewhat fits in. So, when does long

BRIAN AKERS:

term kick in?

Nick Molite:

So, I would say retirement accounts, you know, IRAs, Roth IRAs, four one k4, 3b things like that. I mean, if you have a 15 year plan, but more often than not, that's going to kind of fall in line with your retirement.

BRIAN AKERS:

Yeah, so on personal money, like if you have money in a regular checking bank account, and we go long term, I'm probably going to use long term as a five years, and that that money does not need it for five years. And so, as we build a ladder, a ladder is where you might invest for 135, years and build money out and try to get money able to accumulate over time. Now, on the fixed side, we talked a little bit about insurance being guaranteed by insurance companies. We never did talk about something called a fixed, fixed annuity, like a MIGA, multi-year guarantee. Can you explain what that

Nick Molite:

is? Yeah, so multi-year guarantee annuity, what does that mean? Right, it means that the insurance company guarantees a certain rate of return for multiple years, as described on the, you know, the contract. So much like a CD operates, you a one year CD, two year CD pays certain rate. Same thing with the insurance company. Now, little nuance difference there with the insurance company are obviously the backing and then the way that you're actually taxed on that money as well.

BRIAN AKERS:

Yes, I like these for people over 59 and a half, so that we don't have to worry about penalties, like if you do a five year, a multi year guaranteed annuity, and if you're under 59 and a half and you want that money, you got to pay tax on the interest and a penalty of 10% so you got to be careful with those, but what happens then when you think about money in the bank, and you might look at CD rates, and then you look at five year fixed annuity rates, they're actually better than the CD rates, they are, but that's because you're going longer and you're adding a little risk, and that's no longer FDIC, it's insurance guarantees,

Nick Molite:

that's right, it takes me back to my, again, my banking days, when we would talk about interest, right? And what type of interest does the client want, right? And the client says, I'm trying to get the best rate for my money, or are you trying to get the best taxable rate? You're trying to get the best tax deferred rate.

BRIAN AKERS:

Yeah,

Nick Molite:

are you trying to get the best tax free rate,

BRIAN AKERS:

right? And that would dictate what you actually best, how you invest your money

Nick Molite:

that helps us navigate to

BRIAN AKERS:

the

Nick Molite:

next set of questions, and a set of

BRIAN AKERS:

questions involving with all the pure planning can lead ultimately to implementing lots of different types of vehicles or tools or products that are out there. Being independent financial advisors, what's great is with the tool belts full of options, full of ideas that we can bring to the right purpose of the money,

Nick Molite:

and that's the thing that we can't make a good recommendation, and it gets to the point where you know you're looking at a large CD or a large savings account. You say, I really can't give you a good recommendation until I know what the big picture, the big financial picture looks like.

BRIAN AKERS:

I, I've been, I've been so big on this whole tax efficiency thing, tax efficiency is, are you being efficient with your money now? If you're in CDs, what happens is all of it's taxable at the full ordinary income bracket. It might even trigger other things like IRMA for Medicare being charged more. If you use Treasury bills, you save some Maryland tax. If you actually invest some of it more tax efficiently, and don't pay tax to the long-term future. That's a great way. Capital gains, dividends are all at lower rates than ordinary than CD rates. Understanding tax law is extremely important with liquid money, non-retirement money.

Nick Molite:

Absolutely, especially understanding your own taxable situation as well.

BRIAN AKERS:

That's all I'm at. Right,

Nick Molite:

right, yeah. I don't care about

BRIAN AKERS:

yours.

Nick Molite:

No,

BRIAN AKERS:

I do personally care, but not really. But so the

idea is this:

when we're talking about investing and having purpose, one reason that with personal money you need to be tax efficient. That's one. The other one is, if you want income, well, what kind of income do you want? Do you want it guaranteed for life, or do you want it to come off a portfolio mix, where portfolio changes and your income could change down the road,

Nick Molite:

predictable income, right, sustainable,

BRIAN AKERS:

predictable, reliable, right, but money you can't outlive are all parts of building a great future,

Nick Molite:

sustainable, predictable, reliable.

BRIAN AKERS:

Yeah, like combo,

Nick Molite:

that's great.

BRIAN AKERS:

Now, beating inflation, what do you think of that?

Nick Molite:

So it's a tough, tough job these days.

BRIAN AKERS:

Yeah,

Nick Molite:

right. It

BRIAN AKERS:

can be when it's like a few years ago, that's probably eight 9% one year.

Nick Molite:

Yeah, well, that's the thing, right? We can get a little short sighted with inflation right now. Yes, inflation is high, but there were times when it's low. But over time,

BRIAN AKERS:

that's inflation is one of the reasons we need to have money in stocks in retirement years, if we're going to retire, and we're going to retire 15, 2020-530, years, and money needs to double to keep up. I think it's very important to beat inflation by having some money at risk. The fundamentals of retirement, a lot of people will have social security income. I don't believe social security is going to give us many raises over the years. There's a possibility in 2032 2034 they could reduce the payout, and so what are you going to do if they reduce? So, you want to have other money that has grown to help support you at that time. These are purposes and reasons to invest,

Nick Molite:

absolutely.

BRIAN AKERS:

And so, what happens with a portfolio design is by taking your income flow, projecting that out, looking at where shortfalls may be. This might occur when one spouse dies, it might occur when something ends, it might occur when you retire. There's these moments of life when, hey, I need more money.

Nick Molite:

Yeah, and well, you talk about efficiency, right? And when we're looking at portfolios, we want to look for those, you know, especially if it's a new client or new prospect, you know, the inefficiencies in the portfolio, right?

BRIAN AKERS:

Absolutely, inefficiency. And what do you mean by that?

Nick Molite:

Well, if something's not working hard enough for you, or if you are over concentrated in one area, or you have no income-producing investments,

BRIAN AKERS:

oh yeah, they need money, yeah, but they, nothing's producing it, yeah, maybe they

Nick Molite:

need income, but they're all growth,

BRIAN AKERS:

yeah,

Nick Molite:

right,

BRIAN AKERS:

they take too much risk,

Nick Molite:

too much risk.

BRIAN AKERS:

We have had clients with no risk at all, we've had clients where, when the market lost in 2009 they haven't gotten back in, and so getting them back in is hard,

Nick Molite:

yeah,

BRIAN AKERS:

but you got to slowly build the balance, but it all comes down when you know your purpose for the money, you can know the risk, and then you got to get into the idea of how does someone take on risk who's never been used to that.

Nick Molite:

Absolutely,

BRIAN AKERS:

and then do you need to risk your money? I think it's very important to understand if you need to risk

Nick Molite:

it. Well, and the financial plan really allows us to identify how much risk they should take right, so if you're well funded and you really don't need to take on a whole lot of risk, then that's great. We need to make a secure the income right, and then try to get at least outpacing inflation over time, right? But,

BRIAN AKERS:

and I would say that's not your normal American, normal American has been spending a lot of money, they live within their means, but if they're spending a lot of money, a lot of credit card debt, they better have their retirement money in stock market, because they got to keep up with themselves,

Nick Molite:

of course, because

BRIAN AKERS:

their need numbers can be huge. Yeah,

Nick Molite:

and you just kind of said something very important, which is that credit card debt, high interest credit card debt. I've seen so many clients that carry debt on credit cards with a high interest rate,

BRIAN AKERS:

money's in the bank,

Nick Molite:

17% right,

BRIAN AKERS:

money in the bank, earning, earning zero, but that

Nick Molite:

comfort money,

BRIAN AKERS:

yeah,

Nick Molite:

earning maybe, maybe three, right, but you're losing, and you don't realize

BRIAN AKERS:

it, yeah, that's one of the fundamental things, the first year is trying to get everything balanced out, know everything is going on, get it cleaned up,

Nick Molite:

yeah,

BRIAN AKERS:

those retirement to us is all about cash flow, it's about money coming in, money going out. Your money needs to work as hard as you do. When you want to stop working, that money better be working. That's right. And so the idea today was investing cash. We did a little case study about someone who really had cash everywhere, 401 ks, all kinds of things. Know how your 401 k is invested. I think it's very important that you know the investments. Financial advisors, we can go over them and help you select.

Nick Molite:

Yeah, right bucket, wrong strategy, right

BRIAN AKERS:

slowly. Oh, right

Nick Molite:

bucket, right? So they have retirement accounts, retirement

BRIAN AKERS:

bucket,

Nick Molite:

wrong strategy,

BRIAN AKERS:

wrong strategy, and how they invest, right?

Nick Molite:

Correct.

BRIAN AKERS:

So right bucket, wrong strategy is just one of the many reasons to see a financial advisor at AKERS Financial Group, and to be able to begin a process of where you are now, where you are now, we call that your unique financial fingerprint. That's you. It could be someone who's saved extremely well, and what to do next. It could be someone who wants to begin saving, want to start growing. You might be changing jobs, all kinds of reasons to. And begin starting all right, Nick. I appreciate the good show. Thank you very much, man.

Nick Molite:

Always great to be here. Thanks, Brian.

BRIAN AKERS:

I like the long-term experience, and I appreciate the show, even though you did bring him a newer joke up early on. So,

Nick Molite:

I hope some people liked it. Someone did, at least

BRIAN AKERS:

one. All right, so today we did cover investing cash. We do look forward to meeting with you. We want you to win in your retirement by taking this opportunity to begin planning with us at AKERS Financial Group. To schedule your free meeting with one of our team of advisors, go to our website at AKERS Financial group.com scroll to the schedule meeting section, and let us know you'd like to schedule your free meeting right there. That's AKERS Financial group.com or you can call us at 830 3w I N R E T I R E, that's 833 When retire, we'll give you a call on Monday to schedule your free in-person meeting with one of our team of advisors. Start planning for your retirement now. Go to our website, AKERS Financial group.com or call us at 833-946-7384 Thank you for listening. I'm BRIAN AKERS from AKERS Financial Group, and we want you to be winning in retirement.

Unknown:

You've been listening to Winning in Retirement with your host, BRIAN AKERS, of AKERS Financial Group. AKERS Financial Group offers securities through Arkadios Capital and SIPC and Finra member firm. Advisory services are provided through Arkadios Wealth. AKERS Financial Group and Arkadios do not share any common ownership. Neither Arcadios nor AKERS Financial Group provides tax or legal advice. Advice given on winning in retirement is general in nature, and one should seek further advice from their financial advisor, broker, attorney, and/or tax accountant before investing. Be sure to read each prospectus carefully to understand all the risks associated with each investment. Examples and scenarios shared are meant to be for illustrative purposes only. Past performance is not indicative of future results.