{"version":"1.0.0","segments":[{"startTime":0.81,"endTime":1.71,"body":"- [Narrator] What can you expect"},{"startTime":1.71,"endTime":4.08,"body":"from an experienced financial advisor?"},{"startTime":4.08,"endTime":5.49,"body":"Are all advisors alike?"},{"startTime":5.49,"endTime":6.75,"body":"And will the right advisor"},{"startTime":6.75,"endTime":8.647,"body":"really make a positive difference?"},{"startTime":8.647,"endTime":10.8,"body":"\"Your Financial Journey\" is a podcast"},{"startTime":10.8,"endTime":13.71,"body":"brought to you by Providence"},{"startTime":10.8,"endTime":13.71,"body":"Wealth Advisors, LLC,"},{"startTime":13.71,"endTime":17.16,"body":"a wholly-owned affiliate"},{"startTime":13.71,"endTime":17.16,"body":"of Providence Bank \u0026 Trust."},{"startTime":17.16,"endTime":19.74,"body":"In this series, members of the PWA team"},{"startTime":19.74,"endTime":22.74,"body":"discuss the importance of"},{"startTime":19.74,"endTime":22.74,"body":"planning, relevant developments,"},{"startTime":22.74,"endTime":24.18,"body":"and investment strategies"},{"startTime":24.18,"endTime":26.91,"body":"geared to help you achieve"},{"startTime":24.18,"endTime":26.91,"body":"your wealth management goals,"},{"startTime":26.91,"endTime":30.33,"body":"and to provide you with"},{"startTime":26.91,"endTime":30.33,"body":"experience, guidance, and support"},{"startTime":30.33,"endTime":31.653,"body":"every step of the way."},{"startTime":32.97,"endTime":34.38,"body":"- [Doug] Welcome, I am Doug DeGroot"},{"startTime":34.38,"endTime":36.12,"body":"from Providence Wealth Advisors."},{"startTime":36.12,"endTime":39.133,"body":"We have had a number of podcasts"},{"startTime":36.12,"endTime":39.133,"body":"over the last couple years"},{"startTime":39.133,"endTime":41.844,"body":"on how to save for various expenses,"},{"startTime":41.844,"endTime":45.24,"body":"what type of investments to"},{"startTime":41.844,"endTime":45.24,"body":"use for different strategies"},{"startTime":45.24,"endTime":48.51,"body":"on things you're saving for, et cetera."},{"startTime":48.51,"endTime":51.6,"body":"But on this podcast,"},{"startTime":48.51,"endTime":51.6,"body":"we're gonna focus more"},{"startTime":51.6,"endTime":53.43,"body":"on communication issues,"},{"startTime":53.43,"endTime":57.78,"body":"and in turn, strategies for"},{"startTime":53.43,"endTime":57.78,"body":"the communication process"},{"startTime":57.78,"endTime":61.53,"body":"versus the actual"},{"startTime":57.78,"endTime":61.53,"body":"implementation of strategies."},{"startTime":61.53,"endTime":63.24,"body":"So what do I mean by all that?"},{"startTime":63.24,"endTime":66.45,"body":"We're gonna focus today"},{"startTime":63.24,"endTime":66.45,"body":"on financial topics"},{"startTime":66.45,"endTime":69.45,"body":"that every couple should discuss."},{"startTime":69.45,"endTime":71.52,"body":"So focusing on what I would say"},{"startTime":71.52,"endTime":74.94,"body":"are the bigger issues"},{"startTime":71.52,"endTime":74.94,"body":"within a relationship"},{"startTime":74.94,"endTime":78.18,"body":"versus just a specific financial strategy."},{"startTime":78.18,"endTime":80.16,"body":"I have with me today, Brian Granato,"},{"startTime":80.16,"endTime":82.32,"body":"who is also with"},{"startTime":80.16,"endTime":82.32,"body":"Providence Wealth Advisors"},{"startTime":82.32,"endTime":83.968,"body":"and the Providence Bank Trust Department."},{"startTime":83.968,"endTime":85.29,"body":"Welcome, Brian."},{"startTime":85.29,"endTime":87.27,"body":"- [Brian] Thanks for having me, Doug."},{"startTime":87.27,"endTime":88.77,"body":"- [Doug] So, Brian,"},{"startTime":88.77,"endTime":91.53,"body":"financial topics you should be focusing on"},{"startTime":91.53,"endTime":94.89,"body":"with your partner vary"},{"startTime":91.53,"endTime":94.89,"body":"through the relationship"},{"startTime":94.89,"endTime":97.096,"body":"and your respective ages."},{"startTime":97.096,"endTime":100.74,"body":"Financial issues you're focusing"},{"startTime":97.096,"endTime":100.74,"body":"on when you're in your 20s"},{"startTime":100.74,"endTime":101.61,"body":"are a little bit different"},{"startTime":101.61,"endTime":103.045,"body":"than the issues you're"},{"startTime":101.61,"endTime":103.045,"body":"gonna be focusing on"},{"startTime":103.045,"endTime":105.45,"body":"when you're in your 60s."},{"startTime":105.45,"endTime":108.72,"body":"So we're gonna try to"},{"startTime":105.45,"endTime":108.72,"body":"focus on some key issues"},{"startTime":108.72,"endTime":111.12,"body":"as we work our way"},{"startTime":108.72,"endTime":111.12,"body":"through the aging process."},{"startTime":111.12,"endTime":113.94,"body":"That's what I kind of envision for today."},{"startTime":113.94,"endTime":117.6,"body":"And Brian, as you and I"},{"startTime":113.94,"endTime":117.6,"body":"have talked in the past,"},{"startTime":117.6,"endTime":121.686,"body":"in my opinion, it's"},{"startTime":117.6,"endTime":121.686,"body":"always about the money."},{"startTime":121.686,"endTime":123.146,"body":"- [Brian] I couldn't agree more, Doug."},{"startTime":123.146,"endTime":124.05,"body":"I couldn't agree more."},{"startTime":124.05,"endTime":126.21,"body":"- [Doug] Whether fortunately"},{"startTime":124.05,"endTime":126.21,"body":"or unfortunately,"},{"startTime":126.21,"endTime":129.274,"body":"money is permeated"},{"startTime":126.21,"endTime":129.274,"body":"through everything we do."},{"startTime":129.274,"endTime":131.52,"body":"You know, whether you're buying something,"},{"startTime":131.52,"endTime":133.311,"body":"saving for something, doing something,"},{"startTime":133.311,"endTime":137.61,"body":"doing something for yourselves,"},{"startTime":133.311,"endTime":137.61,"body":"your children, your parents,"},{"startTime":137.61,"endTime":139.461,"body":"it's always about the money."},{"startTime":139.461,"endTime":140.43,"body":"- [Brian] Agreed."},{"startTime":140.43,"endTime":145.41,"body":"- [Doug] So, with that"},{"startTime":140.43,"endTime":145.41,"body":"being our opinion, I guess,"},{"startTime":145.41,"endTime":148.05,"body":"let's start off with a new relationship."},{"startTime":148.05,"endTime":150.06,"body":"What are some of the issues, Brian,"},{"startTime":150.06,"endTime":153.45,"body":"that you see a young couple"},{"startTime":150.06,"endTime":153.45,"body":"should kind of focus on"},{"startTime":153.45,"endTime":155.94,"body":"and get on the same page with?"},{"startTime":155.94,"endTime":157.77,"body":"- [Brian] So a great first point"},{"startTime":157.77,"endTime":159.99,"body":"as we start out the journey together."},{"startTime":159.99,"endTime":164.037,"body":"So when you start a serious"},{"startTime":159.99,"endTime":164.037,"body":"relationship, you know,"},{"startTime":164.037,"endTime":167.25,"body":"you really need to come clean"},{"startTime":164.037,"endTime":167.25,"body":"about everything financial,"},{"startTime":167.25,"endTime":170.22,"body":"whether it be your credit"},{"startTime":167.25,"endTime":170.22,"body":"history, your debt load,"},{"startTime":170.22,"endTime":171.737,"body":"income, retirement plans."},{"startTime":171.737,"endTime":173.88,"body":"I think you discuss everything."},{"startTime":173.88,"endTime":176.32,"body":"I think it's vital that"},{"startTime":173.88,"endTime":176.32,"body":"you exchange your views"},{"startTime":176.32,"endTime":180.36,"body":"and values about money before"},{"startTime":176.32,"endTime":180.36,"body":"you even exchange your vows."},{"startTime":180.36,"endTime":181.77,"body":"- [Doug] I would agree, Brian."},{"startTime":181.77,"endTime":185.85,"body":"And you know, again, having"},{"startTime":181.77,"endTime":185.85,"body":"done this for a few years,"},{"startTime":185.85,"endTime":188.04,"body":"like yourself, it would seem to me"},{"startTime":188.04,"endTime":189.993,"body":"as I reflect back on my career,"},{"startTime":191.16,"endTime":193.604,"body":"whether it happens in"},{"startTime":191.16,"endTime":193.604,"body":"the 20s, 30s, or 40s,"},{"startTime":193.604,"endTime":196.17,"body":"and there's problems in a relationship..."},{"startTime":196.17,"endTime":198.81,"body":"Again, we joke about it being the money,"},{"startTime":198.81,"endTime":201.99,"body":"but it ultimately comes back"},{"startTime":198.81,"endTime":201.99,"body":"a lot of times to the money"},{"startTime":201.99,"endTime":204.84,"body":"because the couple's not on the same page."},{"startTime":204.84,"endTime":206.25,"body":"- [Brian] Absolutely, absolutely."},{"startTime":206.25,"endTime":207.9,"body":"So, I'll tell you a quick story,"},{"startTime":207.9,"endTime":209.843,"body":"if I could."},{"startTime":207.9,"endTime":209.843,"body":"- I'd love to hear it."},{"startTime":209.843,"endTime":214.843,"body":"- [Brian] So my wife and I,"},{"startTime":209.843,"endTime":214.843,"body":"just over 30 years married,"},{"startTime":214.971,"endTime":216.78,"body":"give or take."},{"startTime":216.78,"endTime":219.12,"body":"We got married in the fall"},{"startTime":219.12,"endTime":223.23,"body":"and bought our first home,"},{"startTime":219.12,"endTime":223.23,"body":"it was a starter home."},{"startTime":223.23,"endTime":225.87,"body":"Truly fixer upper,"},{"startTime":223.23,"endTime":225.87,"body":"absolutely no doubt on that."},{"startTime":225.87,"endTime":227.917,"body":"So sat down right out"},{"startTime":225.87,"endTime":227.917,"body":"of the gates and said,"},{"startTime":227.917,"endTime":229.56,"body":"\"Hey, here's a plan."},{"startTime":229.56,"endTime":233.01,"body":"We're gonna put some good"},{"startTime":229.56,"endTime":233.01,"body":"sweat equity into this house,"},{"startTime":233.01,"endTime":235.44,"body":"save where we can, and"},{"startTime":233.01,"endTime":235.44,"body":"try to take the next step"},{"startTime":235.44,"endTime":236.88,"body":"whenever that may be."},{"startTime":235.44,"endTime":236.88,"body":"- All right."},{"startTime":236.88,"endTime":238.68,"body":"- [Brian] Okay? Absolutely."},{"startTime":238.68,"endTime":241.08,"body":"She's on board. Couldn't agree more."},{"startTime":241.08,"endTime":243.09,"body":"Okay. So here we are."},{"startTime":243.09,"endTime":247.56,"body":"I, you know, I'm taking"},{"startTime":243.09,"endTime":247.56,"body":"tools from my dad, handsaws,"},{"startTime":247.56,"endTime":251.16,"body":"I'm taking a corded drill"},{"startTime":247.56,"endTime":251.16,"body":"from my grandfather."},{"startTime":251.16,"endTime":252.27,"body":"You touched that thing in the wrong way,"},{"startTime":252.27,"endTime":253.71,"body":"it sends a shock up your arm"},{"startTime":253.71,"endTime":255.33,"body":"so I was really kind"},{"startTime":253.71,"endTime":255.33,"body":"of cutting corners here"},{"startTime":255.33,"endTime":256.71,"body":"with the tools."},{"startTime":255.33,"endTime":256.71,"body":"- Okay. (chuckles)"},{"startTime":256.71,"endTime":260.31,"body":"- [Brian] And every day after"},{"startTime":256.71,"endTime":260.31,"body":"work and on the weekends."},{"startTime":260.31,"endTime":261.99,"body":"You know the scene,"},{"startTime":260.31,"endTime":261.99,"body":"Doug, you're a handyman,"},{"startTime":261.99,"endTime":263.34,"body":"special kind of guy."},{"startTime":261.99,"endTime":263.34,"body":"- Yeah, I've been there."},{"startTime":263.34,"endTime":264.173,"body":"I know."},{"startTime":264.173,"endTime":267.33,"body":"- [Brian] So go through"},{"startTime":264.173,"endTime":267.33,"body":"the house occasionally,"},{"startTime":267.33,"endTime":271.83,"body":"and I see, oh gosh, there's"},{"startTime":267.33,"endTime":271.83,"body":"a bag from Marshall Fields,"},{"startTime":271.83,"endTime":274.41,"body":"a purse, some shoe boxes."},{"startTime":274.41,"endTime":275.52,"body":"This is going on for months."},{"startTime":275.52,"endTime":278.55,"body":"I'm scratching my head, I said,"},{"startTime":275.52,"endTime":278.55,"body":"\"Hey, what's going on here?\""},{"startTime":278.55,"endTime":283.17,"body":"So one day... So it's"},{"startTime":278.55,"endTime":283.17,"body":"probably, I'll say, early June."},{"startTime":283.17,"endTime":284.373,"body":"Probably early summer."},{"startTime":285.48,"endTime":288.72,"body":"I reach out and I take her by the hand,"},{"startTime":288.72,"endTime":289.65,"body":"and I said, \"Let's go in the backyard.\""},{"startTime":289.65,"endTime":291.66,"body":"She said, \"Oh, okay.\""},{"startTime":289.65,"endTime":291.66,"body":"(Doug chuckles)"},{"startTime":291.66,"endTime":293.76,"body":"I said, \"What do you see back here?\""},{"startTime":293.76,"endTime":297.0,"body":"She said, \"Oh, yeah, I see shrubs,"},{"startTime":297.0,"endTime":299.31,"body":"I see flowers, I see grass.\""},{"startTime":299.31,"endTime":301.32,"body":"I said, \"You know what?"},{"startTime":299.31,"endTime":301.32,"body":"I see the same thing.\""},{"startTime":301.32,"endTime":304.117,"body":"I said, \"See something missing?\""},{"startTime":304.117,"endTime":305.58,"body":"\"I don't know. A pool?"},{"startTime":305.58,"endTime":306.63,"body":"What about a pool?\""},{"startTime":306.63,"endTime":309.69,"body":"I said, \"No, that's"},{"startTime":306.63,"endTime":309.69,"body":"not what I'm thinking.\""},{"startTime":309.69,"endTime":311.25,"body":"I said, \"You know what I don't see?"},{"startTime":311.25,"endTime":313.167,"body":"I don't see a money tree back here.\""},{"startTime":313.167,"endTime":314.91,"body":"- You didn't have one, huh?"},{"startTime":313.167,"endTime":314.91,"body":"- We didn't have a money tree."},{"startTime":314.91,"endTime":316.65,"body":"I said, \"You spend it like we have one.\""},{"startTime":316.65,"endTime":319.44,"body":"I said, \"So, you're not"},{"startTime":316.65,"endTime":319.44,"body":"living at home anymore,"},{"startTime":319.44,"endTime":322.02,"body":"a roof over your head, meals"},{"startTime":319.44,"endTime":322.02,"body":"paid for, bills paid for.\""},{"startTime":322.02,"endTime":324.12,"body":"I said, \"So at the end of the day,"},{"startTime":324.12,"endTime":325.56,"body":"we have to get on the same page here"},{"startTime":325.56,"endTime":327.42,"body":"because we're in charge"},{"startTime":325.56,"endTime":327.42,"body":"of our own destiny.\""},{"startTime":327.42,"endTime":330.36,"body":"So I think she saw the light a little bit."},{"startTime":330.36,"endTime":332.58,"body":"Still worked on her a"},{"startTime":330.36,"endTime":332.58,"body":"number of years after that"},{"startTime":332.58,"endTime":334.314,"body":"but it's difficult and"},{"startTime":332.58,"endTime":334.314,"body":"you really gotta focus in"},{"startTime":334.314,"endTime":336.96,"body":"on that picture together,"},{"startTime":334.314,"endTime":336.96,"body":"Doug, just like you're saying."},{"startTime":336.96,"endTime":340.8,"body":"- Brian, I love the"},{"startTime":336.96,"endTime":340.8,"body":"story and I think, again,"},{"startTime":340.8,"endTime":345.8,"body":"when I talk to younger"},{"startTime":340.8,"endTime":345.8,"body":"people, new couples,"},{"startTime":345.825,"endTime":349.14,"body":"I think they have to figure out early on,"},{"startTime":349.14,"endTime":350.94,"body":"what your story reflects,"},{"startTime":350.94,"endTime":354.21,"body":"are you a spender or are you a saver?"},{"startTime":354.21,"endTime":357.96,"body":"And typically both"},{"startTime":354.21,"endTime":357.96,"body":"individuals aren't the same."},{"startTime":357.96,"endTime":360.493,"body":"If you're both savers,"},{"startTime":357.96,"endTime":360.493,"body":"it works out fairly well."},{"startTime":360.493,"endTime":361.983,"body":"It makes it easy."},{"startTime":362.97,"endTime":365.7,"body":"If you're both spenders,"},{"startTime":362.97,"endTime":365.7,"body":"you got a real problem"},{"startTime":365.7,"endTime":367.47,"body":"and somebody has to grow up quick,"},{"startTime":367.47,"endTime":369.69,"body":"or I can tell you it won't work."},{"startTime":369.69,"endTime":371.97,"body":"And ultimately it'll"},{"startTime":369.69,"endTime":371.97,"body":"weigh on the relationship"},{"startTime":371.97,"endTime":374.61,"body":"because you're just gonna drive yourself"},{"startTime":374.61,"endTime":376.17,"body":"into financial ruin."},{"startTime":374.61,"endTime":376.17,"body":"- Absolutely."},{"startTime":376.17,"endTime":377.64,"body":"We hear it time and time again too."},{"startTime":377.64,"endTime":378.63,"body":"- [Doug] It's just the way it is."},{"startTime":378.63,"endTime":380.253,"body":"So I think you, you hit"},{"startTime":378.63,"endTime":380.253,"body":"the key on the head."},{"startTime":380.253,"endTime":383.28,"body":"You, you gotta talk about"},{"startTime":380.253,"endTime":383.28,"body":"it, you gotta discuss it"},{"startTime":383.28,"endTime":385.26,"body":"and you really have to"},{"startTime":383.28,"endTime":385.26,"body":"come clean with each other"},{"startTime":385.26,"endTime":387.783,"body":"about what are you trying"},{"startTime":385.26,"endTime":387.783,"body":"to do, where are you at,"},{"startTime":389.16,"endTime":390.303,"body":"and so forth."},{"startTime":391.14,"endTime":394.32,"body":"One of the things that I've"},{"startTime":391.14,"endTime":394.32,"body":"talked about on prior podcasts,"},{"startTime":394.32,"endTime":397.59,"body":"and I am a big believer in this,"},{"startTime":397.59,"endTime":399.39,"body":"you gotta have a budget."},{"startTime":399.39,"endTime":401.4,"body":"And I think to have both individuals"},{"startTime":401.4,"endTime":404.67,"body":"involved in creating that"},{"startTime":401.4,"endTime":404.67,"body":"budget is very important."},{"startTime":404.67,"endTime":407.553,"body":"And it gets kind of this buy-in phase."},{"startTime":408.57,"endTime":411.276,"body":"Without a plan, which the budget is,"},{"startTime":411.276,"endTime":415.32,"body":"it just seems to me impossible"},{"startTime":411.276,"endTime":415.32,"body":"to reach any kind of goals."},{"startTime":415.32,"endTime":417.19,"body":"And that goal isn't necessarily"},{"startTime":418.14,"endTime":420.09,"body":"having zillions of dollars or whatever."},{"startTime":420.09,"endTime":423.66,"body":"That goal could be being able to buy a car"},{"startTime":423.66,"endTime":426.24,"body":"or something simple,"},{"startTime":423.66,"endTime":426.24,"body":"or your case, you know,"},{"startTime":426.24,"endTime":428.613,"body":"home improvements or whatever it might be."},{"startTime":429.9,"endTime":432.75,"body":"So the other things, I think, you know..."},{"startTime":432.75,"endTime":434.52,"body":"You make a great point on the house"},{"startTime":434.52,"endTime":435.81,"body":"and the housing expenses,"},{"startTime":435.81,"endTime":438.36,"body":"but I think as you start this process,"},{"startTime":438.36,"endTime":441.84,"body":"again, this talking"},{"startTime":438.36,"endTime":441.84,"body":"process, the budget is key."},{"startTime":441.84,"endTime":444.18,"body":"I think you can start"},{"startTime":441.84,"endTime":444.18,"body":"talking about big purchases,"},{"startTime":444.18,"endTime":447.51,"body":"just like you had with Nancy, the idea of,"},{"startTime":447.51,"endTime":448.5,"body":"are we gonna buy a home?"},{"startTime":448.5,"endTime":451.14,"body":"Is it a fixer upper? How"},{"startTime":448.5,"endTime":451.14,"body":"are we gonna fix it up?"},{"startTime":451.14,"endTime":454.62,"body":"You know, is it sweat"},{"startTime":451.14,"endTime":454.62,"body":"equity? Is it borrowing?"},{"startTime":454.62,"endTime":458.1,"body":"How does each person feel"},{"startTime":454.62,"endTime":458.1,"body":"about saving and borrowing?"},{"startTime":458.1,"endTime":459.0,"body":"- [Brian] Correct."},{"startTime":459.84,"endTime":462.21,"body":"- [Doug] And you and I"},{"startTime":459.84,"endTime":462.21,"body":"always talk about we're..."},{"startTime":462.21,"endTime":464.97,"body":"I know both of us are real"},{"startTime":462.21,"endTime":464.97,"body":"big on retirement planning,"},{"startTime":464.97,"endTime":466.56,"body":"trying to get started as soon as you can."},{"startTime":466.56,"endTime":469.95,"body":"And that's hard to tell a"},{"startTime":466.56,"endTime":469.95,"body":"22-year-old you gotta save"},{"startTime":469.95,"endTime":470.783,"body":"for retirement."},{"startTime":469.95,"endTime":470.783,"body":"- It is."},{"startTime":470.783,"endTime":471.752,"body":"Yeah, it is."},{"startTime":470.783,"endTime":471.752,"body":"- As you know."},{"startTime":471.752,"endTime":473.88,"body":"But you can start talking about it."},{"startTime":473.88,"endTime":475.59,"body":"- [Brian] Yeah, you should"},{"startTime":473.88,"endTime":475.59,"body":"start talking about it"},{"startTime":475.59,"endTime":476.7,"body":"and you still have to start,"},{"startTime":476.7,"endTime":478.2,"body":"even if you're putting a little bit away"},{"startTime":478.2,"endTime":479.88,"body":"in your retirement, it's a start"},{"startTime":479.88,"endTime":481.65,"body":"and they'll appreciate"},{"startTime":479.88,"endTime":481.65,"body":"that at down the road."},{"startTime":481.65,"endTime":483.15,"body":"- [Doug] They will. You have time."},{"startTime":483.15,"endTime":485.64,"body":"So you're getting the"},{"startTime":483.15,"endTime":485.64,"body":"time of that savings."},{"startTime":485.64,"endTime":488.573,"body":"So, I don't know, it seems to me, Brian,"},{"startTime":488.573,"endTime":491.91,"body":"as we kind of move on"},{"startTime":488.573,"endTime":491.91,"body":"from this early stage,"},{"startTime":491.91,"endTime":496.91,"body":"that the real key at this"},{"startTime":491.91,"endTime":496.91,"body":"age is communication."},{"startTime":497.46,"endTime":499.8,"body":"- Yes, most definitely."},{"startTime":497.46,"endTime":499.8,"body":"- And trying to make sure"},{"startTime":499.8,"endTime":503.04,"body":"you're on the same page"},{"startTime":499.8,"endTime":503.04,"body":"with some of these things."},{"startTime":503.04,"endTime":505.71,"body":"And certainly not go off on each other,"},{"startTime":505.71,"endTime":508.14,"body":"buying whatever you wanna"},{"startTime":505.71,"endTime":508.14,"body":"buy and doing what you..."},{"startTime":508.14,"endTime":510.45,"body":"It will just lead to problems."},{"startTime":510.45,"endTime":511.283,"body":"- [Brian] Yeah, yeah."},{"startTime":511.283,"endTime":513.0,"body":"You really have to be looking"},{"startTime":511.283,"endTime":513.0,"body":"through the same windshield"},{"startTime":513.0,"endTime":514.979,"body":"and not one of the..."},{"startTime":514.979,"endTime":517.26,"body":"You know, your spouse or"},{"startTime":514.979,"endTime":517.26,"body":"whatever the case may be,"},{"startTime":517.26,"endTime":519.48,"body":"looking out the side of"},{"startTime":517.26,"endTime":519.48,"body":"the passenger window,"},{"startTime":519.48,"endTime":520.47,"body":"and look at all the trees."},{"startTime":520.47,"endTime":523.17,"body":"Well, we gotta be looking"},{"startTime":520.47,"endTime":523.17,"body":"at the road map here, so."},{"startTime":523.17,"endTime":524.4,"body":"- [Doug] You've gotta look at the map."},{"startTime":524.4,"endTime":527.28,"body":"So with that said, let's move on then."},{"startTime":527.28,"endTime":529.553,"body":"And again, kind of keeping"},{"startTime":527.28,"endTime":529.553,"body":"this age theme going."},{"startTime":529.553,"endTime":531.267,"body":"Let's say we're working now"},{"startTime":531.267,"endTime":535.44,"body":"and the couple's moving into"},{"startTime":531.267,"endTime":535.44,"body":"their thirties and forties"},{"startTime":535.44,"endTime":537.27,"body":"and just some of the things, again,"},{"startTime":537.27,"endTime":539.94,"body":"that they should be thinking"},{"startTime":537.27,"endTime":539.94,"body":"about and talking about"},{"startTime":539.94,"endTime":543.66,"body":"to make sure they're on the"},{"startTime":539.94,"endTime":543.66,"body":"same page at this stage."},{"startTime":543.66,"endTime":546.99,"body":"And again, you know, Brian,"},{"startTime":543.66,"endTime":546.99,"body":"I'll throw it right back at you."},{"startTime":546.99,"endTime":549.692,"body":"What are your thoughts as"},{"startTime":546.99,"endTime":549.692,"body":"you enter this new decade,"},{"startTime":549.692,"endTime":550.8,"body":"I guess, as a couple?"},{"startTime":549.692,"endTime":550.8,"body":"- Yeah, so,"},{"startTime":550.8,"endTime":552.63,"body":"I think at this stage, really,"},{"startTime":552.63,"endTime":556.26,"body":"it's like you're really"},{"startTime":552.63,"endTime":556.26,"body":"thinking of savings"},{"startTime":556.26,"endTime":557.37,"body":"as like cooking a big meal."},{"startTime":557.37,"endTime":558.78,"body":"You got a lot of pots"},{"startTime":558.78,"endTime":560.22,"body":"that you're starting to cook with, right?"},{"startTime":560.22,"endTime":565.22,"body":"You've got, whether it be a"},{"startTime":560.22,"endTime":565.22,"body":"pot for your life-happens fund,"},{"startTime":565.68,"endTime":567.6,"body":"another pot for emergency fund."},{"startTime":567.6,"endTime":570.99,"body":"You've got another one for"},{"startTime":567.6,"endTime":570.99,"body":"a potential college fund."},{"startTime":570.99,"endTime":573.18,"body":"So you've got a lot of pots"},{"startTime":570.99,"endTime":573.18,"body":"you kind of allocate for."},{"startTime":573.18,"endTime":576.9,"body":"So you're starting to, you"},{"startTime":573.18,"endTime":576.9,"body":"know, have some earning power"},{"startTime":576.9,"endTime":579.99,"body":"and you have to start allocating"},{"startTime":576.9,"endTime":579.99,"body":"into those pots, right?"},{"startTime":579.99,"endTime":580.823,"body":"So."},{"startTime":580.823,"endTime":585.06,"body":"- [Doug] And I guess, Brian,"},{"startTime":580.823,"endTime":585.06,"body":"you talk about those pots,"},{"startTime":585.06,"endTime":587.4,"body":"I'm going to come back"},{"startTime":585.06,"endTime":587.4,"body":"to the thing I thought"},{"startTime":587.4,"endTime":589.32,"body":"that was so important in your twenties,"},{"startTime":589.32,"endTime":591.57,"body":"I don't think it stops in"},{"startTime":589.32,"endTime":591.57,"body":"your thirties or forties,"},{"startTime":591.57,"endTime":596.4,"body":"is do you have a budget,"},{"startTime":591.57,"endTime":596.4,"body":"and even a bigger point,"},{"startTime":596.4,"endTime":597.84,"body":"are you following the budget?"},{"startTime":597.84,"endTime":599.13,"body":"It's not just important to have it,"},{"startTime":599.13,"endTime":603.423,"body":"but follow along with what"},{"startTime":599.13,"endTime":603.423,"body":"you're trying to plan for."},{"startTime":604.26,"endTime":606.54,"body":"And that will help allocate funds"},{"startTime":606.54,"endTime":608.415,"body":"to those pots you referenced."},{"startTime":606.54,"endTime":608.415,"body":"- Correct. Yeah."},{"startTime":608.415,"endTime":609.248,"body":"It's part of the budget,"},{"startTime":609.248,"endTime":610.86,"body":"and if you don't have anything to follow,"},{"startTime":610.86,"endTime":612.317,"body":"it's almost like a free for all."},{"startTime":612.317,"endTime":614.58,"body":"How do you function then"},{"startTime":614.58,"endTime":617.31,"body":"without knowing how you're"},{"startTime":614.58,"endTime":617.31,"body":"supposed to make payments on this"},{"startTime":617.31,"endTime":619.08,"body":"or save for that, vacation fund,"},{"startTime":619.08,"endTime":621.06,"body":"and then go into retirement?"},{"startTime":621.06,"endTime":624.12,"body":"That retirement account"},{"startTime":621.06,"endTime":624.12,"body":"should always be focused upon"},{"startTime":624.12,"endTime":625.8,"body":"whether or not as much in your twenties,"},{"startTime":625.8,"endTime":627.27,"body":"but it starts to grow as you get older."},{"startTime":627.27,"endTime":630.27,"body":"- [Doug] Now you gotta"},{"startTime":627.27,"endTime":630.27,"body":"start looking closer at some"},{"startTime":630.27,"endTime":631.29,"body":"of those things, like you said,"},{"startTime":631.29,"endTime":632.58,"body":"and we'll talk about that in a minute."},{"startTime":632.58,"endTime":635.244,"body":"But, you know, again, back"},{"startTime":632.58,"endTime":635.244,"body":"to this budget process,"},{"startTime":635.244,"endTime":639.06,"body":"I've had a budget ever since I've been 18"},{"startTime":639.06,"endTime":640.38,"body":"and really been in the workforce."},{"startTime":640.38,"endTime":641.79,"body":"I revise my budget every year."},{"startTime":641.79,"endTime":643.47,"body":"I sit down with my spouse every year."},{"startTime":643.47,"endTime":645.529,"body":"We try to revise the figures."},{"startTime":645.529,"endTime":648.15,"body":"But it's that roadmap again, Brian."},{"startTime":648.15,"endTime":652.44,"body":"It's, you know, \"Okay,"},{"startTime":648.15,"endTime":652.44,"body":"what's going to charity,"},{"startTime":652.44,"endTime":655.214,"body":"what's going to vacation,"},{"startTime":652.44,"endTime":655.214,"body":"what's going to car expense,"},{"startTime":655.214,"endTime":657.78,"body":"what's going to miscellaneous"},{"startTime":655.214,"endTime":657.78,"body":"expenses,\" by the way,"},{"startTime":657.78,"endTime":659.52,"body":"for the various couples out there,"},{"startTime":659.52,"endTime":661.62,"body":"because I'm telling you,"},{"startTime":659.52,"endTime":661.62,"body":"things are gonna break."},{"startTime":661.62,"endTime":663.6,"body":"You're gonna need a new"},{"startTime":661.62,"endTime":663.6,"body":"roof for your house."},{"startTime":663.6,"endTime":665.37,"body":"Your car's gonna need a new battery."},{"startTime":665.37,"endTime":667.294,"body":"You may need a new"},{"startTime":665.37,"endTime":667.294,"body":"transmission for your car."},{"startTime":667.294,"endTime":670.493,"body":"That's life."},{"startTime":667.294,"endTime":670.493,"body":"- Yeah. It never ends."},{"startTime":670.493,"endTime":673.38,"body":"- [Doug] So with that said, I think Brian,"},{"startTime":673.38,"endTime":674.82,"body":"you talked about retirement plans."},{"startTime":674.82,"endTime":678.72,"body":"Those should be starting to be"},{"startTime":674.82,"endTime":678.72,"body":"a little more, at this stage,"},{"startTime":678.72,"endTime":681.495,"body":"than just kind of a little money"},{"startTime":678.72,"endTime":681.495,"body":"here, a little money there."},{"startTime":681.495,"endTime":684.51,"body":"You should be allocating"},{"startTime":681.495,"endTime":684.51,"body":"greater dollars, I think,"},{"startTime":684.51,"endTime":685.89,"body":"to those funds."},{"startTime":684.51,"endTime":685.89,"body":"- Yeah. Yeah."},{"startTime":685.89,"endTime":686.94,"body":"- [Doug] And talking about it."},{"startTime":686.94,"endTime":688.17,"body":"- [Brian] Correct. Correct."},{"startTime":688.17,"endTime":690.263,"body":"And I think, what's the"},{"startTime":688.17,"endTime":690.263,"body":"rule of thumb on that, Doug?"},{"startTime":690.263,"endTime":692.7,"body":"I think you're supposed to have"},{"startTime":692.7,"endTime":694.6,"body":"a year's worth of your"},{"startTime":692.7,"endTime":694.6,"body":"salary in your fund, about,"},{"startTime":694.6,"endTime":696.66,"body":"at that point."},{"startTime":694.6,"endTime":696.66,"body":"- You should."},{"startTime":696.66,"endTime":697.493,"body":"Yeah, you should."},{"startTime":697.493,"endTime":699.66,"body":"So kind of the goal, but again,"},{"startTime":699.66,"endTime":701.67,"body":"these communication issues"},{"startTime":699.66,"endTime":701.67,"body":"that we talked about"},{"startTime":701.67,"endTime":703.5,"body":"without getting into the strategies"},{"startTime":703.5,"endTime":705.393,"body":"of whether you should be"},{"startTime":703.5,"endTime":705.393,"body":"aggressive growth or growth,"},{"startTime":705.393,"endTime":709.595,"body":"I think this is the kind"},{"startTime":705.393,"endTime":709.595,"body":"of the beginning age"},{"startTime":709.595,"endTime":712.89,"body":"where the couple should be saying, \"Okay,"},{"startTime":712.89,"endTime":715.02,"body":"when do we think we might retire?"},{"startTime":715.02,"endTime":717.16,"body":"Is it 50, is it 60, is it 70?"},{"startTime":717.16,"endTime":718.467,"body":"Is it never?\""},{"startTime":719.34,"endTime":721.83,"body":"You know, you just wanna"},{"startTime":719.34,"endTime":721.83,"body":"start talking about it"},{"startTime":721.83,"endTime":723.51,"body":"so you're on the same page."},{"startTime":723.51,"endTime":725.01,"body":"Maybe the wife's not working anymore,"},{"startTime":725.01,"endTime":726.75,"body":"maybe the husband's not working anymore."},{"startTime":726.75,"endTime":730.119,"body":"What's the strategy for that?"},{"startTime":730.119,"endTime":732.21,"body":"The other thing I think"},{"startTime":732.21,"endTime":734.689,"body":"you'd wanna start kind of focusing in on,"},{"startTime":734.689,"endTime":737.49,"body":"on these ages is, you know,"},{"startTime":737.49,"endTime":739.2,"body":"your children, if you've got children,"},{"startTime":739.2,"endTime":741.42,"body":"if you're a couple with kids,"},{"startTime":741.42,"endTime":743.476,"body":"what's college gonna look like?"},{"startTime":743.476,"endTime":745.454,"body":"Are you gonna help the kids?"},{"startTime":745.454,"endTime":747.05,"body":"Are you not gonna help the kids?"},{"startTime":747.05,"endTime":749.16,"body":"Is there debt involved?"},{"startTime":749.16,"endTime":750.9,"body":"- [Brian] And that's across the board too,"},{"startTime":750.9,"endTime":754.26,"body":"based on, you know, mom and"},{"startTime":750.9,"endTime":754.26,"body":"dad, how they feel about that."},{"startTime":754.26,"endTime":757.11,"body":"Some are, you kind of are off"},{"startTime":754.26,"endTime":757.11,"body":"on your own, do your thing,"},{"startTime":757.11,"endTime":759.3,"body":"get your loans, figure it out."},{"startTime":759.3,"endTime":760.77,"body":"And some parents are more helpful."},{"startTime":760.77,"endTime":764.25,"body":"So again, part of how"},{"startTime":760.77,"endTime":764.25,"body":"you need to strategize"},{"startTime":764.25,"endTime":765.72,"body":"on how to allocate your money."},{"startTime":765.72,"endTime":767.692,"body":"- [Doug] Right. I think so."},{"startTime":767.692,"endTime":769.89,"body":"And then the other thing I think"},{"startTime":769.89,"endTime":771.87,"body":"that you begin talking about"},{"startTime":771.87,"endTime":776.87,"body":"in implementing at this age"},{"startTime":771.87,"endTime":776.87,"body":"that I think is important,"},{"startTime":777.6,"endTime":779.91,"body":"and Brian, again, it comes"},{"startTime":777.6,"endTime":779.91,"body":"back to your and my background"},{"startTime":779.91,"endTime":781.62,"body":"in the trust area."},{"startTime":781.62,"endTime":785.46,"body":"But you should start putting"},{"startTime":781.62,"endTime":785.46,"body":"together an estate plan."},{"startTime":785.46,"endTime":788.49,"body":"Now, it may not need to be..."},{"startTime":788.49,"endTime":790.59,"body":"For those of you that have some knowledge"},{"startTime":790.59,"endTime":791.423,"body":"about estate planning,"},{"startTime":791.423,"endTime":792.87,"body":"it doesn't have to be a full-blown trust"},{"startTime":792.87,"endTime":796.47,"body":"and you know, all the various"},{"startTime":792.87,"endTime":796.47,"body":"things that go with that."},{"startTime":796.47,"endTime":797.61,"body":"It might just be a simple will,"},{"startTime":797.61,"endTime":799.56,"body":"but if you have children, you should talk"},{"startTime":799.56,"endTime":802.2,"body":"about who's gonna be the"},{"startTime":799.56,"endTime":802.2,"body":"guardian of the children."},{"startTime":802.2,"endTime":803.76,"body":"- [Brian] Right."},{"startTime":803.76,"endTime":806.37,"body":"- [Doug] You know, again, maybe begin"},{"startTime":806.37,"endTime":809.73,"body":"the actual implementation"},{"startTime":806.37,"endTime":809.73,"body":"process of what I'll call"},{"startTime":809.73,"endTime":811.71,"body":"a small estate plan."},{"startTime":809.73,"endTime":811.71,"body":"- Yeah."},{"startTime":811.71,"endTime":814.08,"body":"It doesn't have to be complex,"},{"startTime":811.71,"endTime":814.08,"body":"but put it down in writing."},{"startTime":814.08,"endTime":816.146,"body":"I mean, you know, 'cause"},{"startTime":814.08,"endTime":816.146,"body":"if something did happen,"},{"startTime":816.146,"endTime":819.42,"body":"the family's totally up"},{"startTime":816.146,"endTime":819.42,"body":"in arms of what to do."},{"startTime":819.42,"endTime":820.253,"body":"- [Doug] Right."},{"startTime":820.253,"endTime":821.43,"body":"- [Brian] Who's gonna want"},{"startTime":820.253,"endTime":821.43,"body":"take care of the kids?"},{"startTime":821.43,"endTime":823.83,"body":"Who would they have wanted"},{"startTime":821.43,"endTime":823.83,"body":"to take care of the kids?"},{"startTime":823.83,"endTime":825.06,"body":"It's really, when you have kids,"},{"startTime":825.06,"endTime":828.3,"body":"that's where that estate plan"},{"startTime":825.06,"endTime":828.3,"body":"really is kind of crucial"},{"startTime":828.3,"endTime":830.25,"body":"versus maybe potentially an unmarried"},{"startTime":830.25,"endTime":832.41,"body":"or a couple without kids at that point."},{"startTime":832.41,"endTime":836.7,"body":"So estate plan, yes. Key as"},{"startTime":832.41,"endTime":836.7,"body":"kids may enter the picture."},{"startTime":836.7,"endTime":837.63,"body":"- [Doug] Right."},{"startTime":837.63,"endTime":841.26,"body":"The reality is that you're"},{"startTime":837.63,"endTime":841.26,"body":"probably not gonna need the plan,"},{"startTime":841.26,"endTime":843.45,"body":"but nobody knows when"},{"startTime":841.26,"endTime":843.45,"body":"they're gonna pass away."},{"startTime":843.45,"endTime":846.6,"body":"So again, coming back to"},{"startTime":843.45,"endTime":846.6,"body":"this idea of being prepared"},{"startTime":846.6,"endTime":849.21,"body":"and talking it through"},{"startTime":846.6,"endTime":849.21,"body":"together as a couple."},{"startTime":849.21,"endTime":851.43,"body":"And I've been involved,"},{"startTime":849.21,"endTime":851.43,"body":"Brian, you talk about stories,"},{"startTime":851.43,"endTime":853.53,"body":"you know, unfortunately I've"},{"startTime":851.43,"endTime":853.53,"body":"been involved in estates"},{"startTime":853.53,"endTime":857.97,"body":"where someone has passed away"},{"startTime":853.53,"endTime":857.97,"body":"and they didn't have a plan."},{"startTime":857.97,"endTime":861.75,"body":"And that's a plan where"},{"startTime":857.97,"endTime":861.75,"body":"there was small children."},{"startTime":861.75,"endTime":866.75,"body":"And then what happens is,"},{"startTime":861.75,"endTime":866.75,"body":"the state where you reside"},{"startTime":866.91,"endTime":870.3,"body":"has laws as to how things"},{"startTime":866.91,"endTime":870.3,"body":"are gonna be allocated"},{"startTime":870.3,"endTime":871.77,"body":"and divided and handled."},{"startTime":871.77,"endTime":873.36,"body":"And it just seems that"},{"startTime":873.36,"endTime":876.54,"body":"if you can make that"},{"startTime":873.36,"endTime":876.54,"body":"choice your own decision"},{"startTime":876.54,"endTime":878.85,"body":"instead of the state of"},{"startTime":876.54,"endTime":878.85,"body":"Illinois in our example,"},{"startTime":878.85,"endTime":880.23,"body":"that's probably a better alternative."},{"startTime":880.23,"endTime":881.633,"body":"- [Brian] As you should, as you should."},{"startTime":881.633,"endTime":883.74,"body":"- [Doug] So, okay."},{"startTime":883.74,"endTime":886.563,"body":"So that's, I think,"},{"startTime":883.74,"endTime":886.563,"body":"again, a good strategy."},{"startTime":887.58,"endTime":891.18,"body":"Gives you some ideas of what"},{"startTime":887.58,"endTime":891.18,"body":"you might be focusing in on"},{"startTime":891.18,"endTime":892.86,"body":"in the 30s and 40s."},{"startTime":892.86,"endTime":894.51,"body":"So let's kind of move"},{"startTime":892.86,"endTime":894.51,"body":"on from there, Brian."},{"startTime":894.51,"endTime":895.766,"body":"Kinda keep this process going."},{"startTime":895.766,"endTime":899.94,"body":"Now the couple's in their,"},{"startTime":895.766,"endTime":899.94,"body":"let's call it 50s and 60s."},{"startTime":899.94,"endTime":902.91,"body":"Things have changed right along the way,"},{"startTime":902.91,"endTime":905.31,"body":"but a lot of the discussions..."},{"startTime":905.31,"endTime":906.51,"body":"The discussion should continue,"},{"startTime":906.51,"endTime":908.28,"body":"just probably on different"},{"startTime":906.51,"endTime":908.28,"body":"topics, if you will."},{"startTime":908.28,"endTime":911.737,"body":"So I'm gonna lead off on this one, Brian,"},{"startTime":911.737,"endTime":914.67,"body":"'cause I, again, I've"},{"startTime":911.737,"endTime":914.67,"body":"talked about it enough,"},{"startTime":914.67,"endTime":915.879,"body":"but I'm gonna come back to it."},{"startTime":915.879,"endTime":917.67,"body":"Do you have a budget?"},{"startTime":917.67,"endTime":919.41,"body":"Even though you're now"},{"startTime":917.67,"endTime":919.41,"body":"in your 50s and 60s,"},{"startTime":919.41,"endTime":920.883,"body":"there's more money involved,"},{"startTime":922.14,"endTime":924.84,"body":"you really should still maintain a budget"},{"startTime":924.84,"endTime":927.21,"body":"so you can have this plan, if you will."},{"startTime":927.21,"endTime":928.517,"body":"And are you following it?"},{"startTime":927.21,"endTime":928.517,"body":"- Correct."},{"startTime":928.517,"endTime":931.317,"body":"- [Doug] Again, the same idea,"},{"startTime":928.517,"endTime":931.317,"body":"but how about you, Brian?"},{"startTime":931.317,"endTime":933.48,"body":"Some thoughts at this age?"},{"startTime":933.48,"endTime":935.49,"body":"- [Brian] Yeah, I"},{"startTime":933.48,"endTime":935.49,"body":"couldn't agree more, Doug."},{"startTime":935.49,"endTime":937.68,"body":"That budget never seems"},{"startTime":935.49,"endTime":937.68,"body":"to come outta the picture."},{"startTime":937.68,"endTime":940.59,"body":"I don't care where you're"},{"startTime":937.68,"endTime":940.59,"body":"at in life, it's still..."},{"startTime":940.59,"endTime":942.24,"body":"You may change things up a little bit,"},{"startTime":942.24,"endTime":944.94,"body":"but it still has to be"},{"startTime":942.24,"endTime":944.94,"body":"kind of a key focus."},{"startTime":944.94,"endTime":947.46,"body":"And again, communication with your spouse."},{"startTime":947.46,"endTime":949.029,"body":"Are you looking, you know, at 50?"},{"startTime":949.029,"endTime":950.82,"body":"Are one of the spouses"},{"startTime":949.029,"endTime":950.82,"body":"thinking, \"You know what?"},{"startTime":950.82,"endTime":952.919,"body":"Maybe I'm looking to do"},{"startTime":950.82,"endTime":952.919,"body":"part-time or retire.\""},{"startTime":952.919,"endTime":956.37,"body":"How's that affect how you're"},{"startTime":952.919,"endTime":956.37,"body":"allocating your dollars,"},{"startTime":956.37,"endTime":957.203,"body":"retirement dollars?"},{"startTime":957.203,"endTime":958.26,"body":"I think you have to always be"},{"startTime":958.26,"endTime":961.26,"body":"in communication with your"},{"startTime":958.26,"endTime":961.26,"body":"spouse what the plan is."},{"startTime":961.26,"endTime":963.868,"body":"I think at that stage you may be trying"},{"startTime":963.868,"endTime":966.807,"body":"to do some catch-up work if you're..."},{"startTime":966.807,"endTime":968.737,"body":"Maybe you're falling a little behind."},{"startTime":968.737,"endTime":970.62,"body":"\"Hey, we had to put more"},{"startTime":968.737,"endTime":970.62,"body":"in when we were younger.\""},{"startTime":970.62,"endTime":972.18,"body":"Or maybe use some of that"},{"startTime":970.62,"endTime":972.18,"body":"catch-up contributions"},{"startTime":972.18,"endTime":974.61,"body":"that it's out there now that"},{"startTime":972.18,"endTime":974.61,"body":"you could take advantage of."},{"startTime":974.61,"endTime":977.52,"body":"So certainly things you"},{"startTime":974.61,"endTime":977.52,"body":"should be definitely taking"},{"startTime":977.52,"endTime":980.31,"body":"advantage of that are out there"},{"startTime":977.52,"endTime":980.31,"body":"and starting to capitalize"},{"startTime":980.31,"endTime":982.5,"body":"on continuing to build that nest egg."},{"startTime":982.5,"endTime":985.02,"body":"- Right? And I agree with you completely."},{"startTime":985.02,"endTime":989.167,"body":"And I think, again, in"},{"startTime":985.02,"endTime":989.167,"body":"these ages, if you will,"},{"startTime":989.167,"endTime":992.97,"body":"that retirement-plan discussion"},{"startTime":989.167,"endTime":992.97,"body":"is gonna be more prevalent"},{"startTime":992.97,"endTime":996.917,"body":"because it's obviously closer"},{"startTime":992.97,"endTime":996.917,"body":"to where you're at in life."},{"startTime":996.917,"endTime":1000.08,"body":"And I think you're right, you"},{"startTime":996.917,"endTime":1000.08,"body":"know, maybe it's focusing on,"},{"startTime":1000.08,"endTime":1002.24,"body":"again, simple things like"},{"startTime":1000.08,"endTime":1002.24,"body":"a catch-up contribution"},{"startTime":1002.24,"endTime":1003.26,"body":"so you can allocate more."},{"startTime":1003.26,"endTime":1004.58,"body":"You've determined, \"Hey, we need"},{"startTime":1004.58,"endTime":1007.64,"body":"a little bit more set aside,\""},{"startTime":1004.58,"endTime":1007.64,"body":"and that's this communication."},{"startTime":1007.64,"endTime":1008.6,"body":"You gotta talk about it"},{"startTime":1008.6,"endTime":1010.89,"body":"because it's gonna mean probably"},{"startTime":1011.81,"endTime":1013.85,"body":"a detriment to some other expense item"},{"startTime":1013.85,"endTime":1016.378,"body":"if you're gonna allocate"},{"startTime":1013.85,"endTime":1016.378,"body":"more to retirement dollars."},{"startTime":1016.378,"endTime":1019.14,"body":"But I think you're right,"},{"startTime":1016.378,"endTime":1019.14,"body":"you start talking also"},{"startTime":1020.367,"endTime":1023.183,"body":"as a couple, you know, what"},{"startTime":1020.367,"endTime":1023.183,"body":"does retirement look like?"},{"startTime":1023.183,"endTime":1024.98,"body":"When are you gonna consult?"},{"startTime":1024.98,"endTime":1027.47,"body":"You know, that's becoming more normal now."},{"startTime":1027.47,"endTime":1028.52,"body":"There's a retirement"},{"startTime":1028.52,"endTime":1032.004,"body":"and then one of the members of the couple"},{"startTime":1032.004,"endTime":1035.69,"body":"consults part-time, kind of"},{"startTime":1032.004,"endTime":1035.69,"body":"this transition, if you will,"},{"startTime":1035.69,"endTime":1036.737,"body":"into retirement."},{"startTime":1035.69,"endTime":1036.737,"body":"- Correct."},{"startTime":1036.737,"endTime":1038.27,"body":"- [Doug] Are you gonna"},{"startTime":1036.737,"endTime":1038.27,"body":"work part-time somewhere?"},{"startTime":1038.27,"endTime":1040.52,"body":"Maybe your current employer"},{"startTime":1038.27,"endTime":1040.52,"body":"or another employer"},{"startTime":1040.52,"endTime":1043.16,"body":"wants you to work part-time."},{"startTime":1043.16,"endTime":1046.88,"body":"And then even beyond that,"},{"startTime":1046.88,"endTime":1048.44,"body":"I think you gotta start looking at..."},{"startTime":1048.44,"endTime":1051.29,"body":"And again, now I'm"},{"startTime":1048.44,"endTime":1051.29,"body":"personally in that age group."},{"startTime":1051.29,"endTime":1053.164,"body":"So again, it's things"},{"startTime":1051.29,"endTime":1053.164,"body":"that I've talked about."},{"startTime":1053.164,"endTime":1055.133,"body":"Where are you gonna live? You know?"},{"startTime":1056.21,"endTime":1057.95,"body":"Things have transitioned a little bit"},{"startTime":1057.95,"endTime":1059.867,"body":"from when I grew up"},{"startTime":1059.867,"endTime":1061.94,"body":"and the family kind of stayed in one area."},{"startTime":1061.94,"endTime":1065.15,"body":"Now you've got kids kind of"},{"startTime":1061.94,"endTime":1065.15,"body":"moving all over the place."},{"startTime":1065.15,"endTime":1066.86,"body":"Do you wanna be near your children?"},{"startTime":1066.86,"endTime":1069.083,"body":"Do you wanna be near a certain grandchild?"},{"startTime":1070.01,"endTime":1071.657,"body":"You know, how does that look?"},{"startTime":1071.657,"endTime":1074.48,"body":"And that actually factors"},{"startTime":1071.657,"endTime":1074.48,"body":"into the decision too,"},{"startTime":1074.48,"endTime":1076.55,"body":"I think, Brian"},{"startTime":1074.48,"endTime":1076.55,"body":"- Yeah, it does,"},{"startTime":1076.55,"endTime":1078.233,"body":"as does the other half of that equation."},{"startTime":1078.233,"endTime":1080.75,"body":"At that stage, where do"},{"startTime":1078.233,"endTime":1080.75,"body":"you sit with debt in life?"},{"startTime":1080.75,"endTime":1082.894,"body":"Are you laden with it?"},{"startTime":1082.894,"endTime":1085.19,"body":"Do you need to start whittling that down?"},{"startTime":1085.19,"endTime":1087.246,"body":"But as you get in your 50s and 60s,"},{"startTime":1087.246,"endTime":1089.63,"body":"you have to really retire that debt"},{"startTime":1089.63,"endTime":1092.27,"body":"and try to become debt free if you could."},{"startTime":1092.27,"endTime":1093.11,"body":"With the big dollars."},{"startTime":1093.11,"endTime":1094.16,"body":"I'm not talking about a credit card,"},{"startTime":1094.16,"endTime":1095.45,"body":"a couple thousand bucks on that,"},{"startTime":1095.45,"endTime":1097.853,"body":"but you know, from a mortgage standpoint,"},{"startTime":1098.78,"endTime":1100.095,"body":"something like that, you really"},{"startTime":1100.095,"endTime":1101.57,"body":"have to have that done."},{"startTime":1100.095,"endTime":1101.57,"body":"- Brian, you read my mind."},{"startTime":1101.57,"endTime":1105.44,"body":"So as you know, we deal with a"},{"startTime":1101.57,"endTime":1105.44,"body":"lot of people over the years,"},{"startTime":1105.44,"endTime":1107.27,"body":"but, you know, some people,"},{"startTime":1105.44,"endTime":1107.27,"body":"it doesn't bother 'em"},{"startTime":1107.27,"endTime":1109.1,"body":"to go into retirement with a lot of debt."},{"startTime":1109.1,"endTime":1110.81,"body":"You know, a lot of"},{"startTime":1109.1,"endTime":1110.81,"body":"mortgage debt or whatever."},{"startTime":1110.81,"endTime":1113.18,"body":"But the reality is, if you do that..."},{"startTime":1113.18,"endTime":1114.95,"body":"And that's okay, we hear it all the time."},{"startTime":1114.95,"endTime":1117.53,"body":"People wanna stay in their"},{"startTime":1114.95,"endTime":1117.53,"body":"home. That's a common theme."},{"startTime":1117.53,"endTime":1122.53,"body":"But if you stay in a"},{"startTime":1117.53,"endTime":1122.53,"body":"bigger home with debt,"},{"startTime":1122.78,"endTime":1126.74,"body":"it adds financial strain to the couple."},{"startTime":1126.74,"endTime":1127.76,"body":"- [Brian] Correct."},{"startTime":1127.76,"endTime":1128.9,"body":"- [Doug] Because there's a mortgage"},{"startTime":1128.9,"endTime":1130.73,"body":"and there's gonna be"},{"startTime":1128.9,"endTime":1130.73,"body":"more real estate taxes"},{"startTime":1130.73,"endTime":1132.32,"body":"and the insurance bill's gonna be greater"},{"startTime":1132.32,"endTime":1133.746,"body":"and the utility bills"},{"startTime":1132.32,"endTime":1133.746,"body":"are gonna be greater."},{"startTime":1133.746,"endTime":1137.6,"body":"Versus, again, if the couple"},{"startTime":1133.746,"endTime":1137.6,"body":"sits down and say, you know,"},{"startTime":1137.6,"endTime":1139.1,"body":"whatever they may decide to do,"},{"startTime":1139.1,"endTime":1142.07,"body":"but you know, they're gonna"},{"startTime":1139.1,"endTime":1142.07,"body":"go to a much smaller home"},{"startTime":1142.07,"endTime":1143.007,"body":"or a smaller home."},{"startTime":1143.007,"endTime":1143.9,"body":"It doesn't have to be a much smaller home,"},{"startTime":1143.9,"endTime":1147.2,"body":"but a smaller home and with no debt."},{"startTime":1147.2,"endTime":1148.52,"body":"It just takes a lot of that"},{"startTime":1148.52,"endTime":1149.96,"body":"financial strain off."},{"startTime":1148.52,"endTime":1149.96,"body":"- Yeah, it does."},{"startTime":1149.96,"endTime":1152.33,"body":"It does take that piece of pressure off."},{"startTime":1152.33,"endTime":1153.632,"body":"- [Doug] But that's a decision, again,"},{"startTime":1153.632,"endTime":1157.823,"body":"the couple has to talk about."},{"startTime":1158.81,"endTime":1160.61,"body":"So the other thing, I think, again,"},{"startTime":1160.61,"endTime":1162.89,"body":"we kind of closed with in"},{"startTime":1160.61,"endTime":1162.89,"body":"our last segment, you know,"},{"startTime":1162.89,"endTime":1165.08,"body":"about this estate plan, but you know,"},{"startTime":1165.08,"endTime":1168.62,"body":"certainly in the 50s and 60s, again,"},{"startTime":1168.62,"endTime":1170.15,"body":"as I age myself, I can say this,"},{"startTime":1170.15,"endTime":1173.81,"body":"we all have a finite time on this earth."},{"startTime":1173.81,"endTime":1177.05,"body":"And the reality is we're all"},{"startTime":1173.81,"endTime":1177.05,"body":"gonna pass away at some point"},{"startTime":1177.05,"endTime":1179.0,"body":"and you need to start focusing more"},{"startTime":1179.0,"endTime":1182.5,"body":"and be more specific, I"},{"startTime":1179.0,"endTime":1182.5,"body":"think, on an estate plan."},{"startTime":1182.5,"endTime":1184.34,"body":"- [Brian] You do. You really do."},{"startTime":1184.34,"endTime":1186.56,"body":"I think, you know..."},{"startTime":1186.56,"endTime":1188.24,"body":"I think with that estate plan, too,"},{"startTime":1188.24,"endTime":1190.7,"body":"you really shouldn't be"},{"startTime":1188.24,"endTime":1190.7,"body":"settling your grievances there."},{"startTime":1190.7,"endTime":1192.83,"body":"I think you really have"},{"startTime":1190.7,"endTime":1192.83,"body":"to have a thoughtful plan."},{"startTime":1192.83,"endTime":1194.415,"body":"Think it out."},{"startTime":1194.415,"endTime":1197.805,"body":"Your estate plan when you're"},{"startTime":1194.415,"endTime":1197.805,"body":"in your 30s with young kids"},{"startTime":1197.805,"endTime":1199.787,"body":"that your executor may have changed now."},{"startTime":1199.787,"endTime":1201.41,"body":"Now that they're older,"},{"startTime":1199.787,"endTime":1201.41,"body":"are one of the kids"},{"startTime":1201.41,"endTime":1203.84,"body":"gonna take the reins on that now"},{"startTime":1203.84,"endTime":1206.99,"body":"or is it a corporate trustee,"},{"startTime":1203.84,"endTime":1206.99,"body":"like a bank to step in"},{"startTime":1206.99,"endTime":1208.37,"body":"'cause you don't wanna burden the family"},{"startTime":1208.37,"endTime":1209.37,"body":"with something like that?"},{"startTime":1209.37,"endTime":1212.99,"body":"So that estate plan always"},{"startTime":1209.37,"endTime":1212.99,"body":"seems to be fine tuned."},{"startTime":1212.99,"endTime":1213.89,"body":"- [Doug] Yeah, as you age,"},{"startTime":1213.89,"endTime":1216.98,"body":"it should be ratcheted"},{"startTime":1213.89,"endTime":1216.98,"body":"up a notch, I guess,"},{"startTime":1216.98,"endTime":1217.87,"body":"if you will."},{"startTime":1216.98,"endTime":1217.87,"body":"- Yes."},{"startTime":1217.87,"endTime":1219.456,"body":"- [Doug] And you need"},{"startTime":1217.87,"endTime":1219.456,"body":"to be talking about it."},{"startTime":1219.456,"endTime":1224.15,"body":"Both of the couple have"},{"startTime":1219.456,"endTime":1224.15,"body":"to be on the same page."},{"startTime":1224.15,"endTime":1226.28,"body":"I think the other thing"},{"startTime":1224.15,"endTime":1226.28,"body":"I would say, and again,"},{"startTime":1226.28,"endTime":1229.31,"body":"this is what my wife"},{"startTime":1226.28,"endTime":1229.31,"body":"and I have tried to do,"},{"startTime":1229.31,"endTime":1233.251,"body":"is we have, in today's day and age,"},{"startTime":1233.251,"endTime":1237.773,"body":"numerous passwords to"},{"startTime":1233.251,"endTime":1237.773,"body":"a variety of accounts."},{"startTime":1238.64,"endTime":1240.77,"body":"And we have a master sheet, if you will,"},{"startTime":1240.77,"endTime":1242.81,"body":"of all these passwords"},{"startTime":1240.77,"endTime":1242.81,"body":"that we have hidden,"},{"startTime":1242.81,"endTime":1244.7,"body":"but we each know where it is"},{"startTime":1244.7,"endTime":1246.713,"body":"because there are things"},{"startTime":1244.7,"endTime":1246.713,"body":"that she does or I do"},{"startTime":1246.713,"endTime":1249.14,"body":"that we don't know the passwords."},{"startTime":1249.14,"endTime":1252.05,"body":"And unfortunately you have to know that"},{"startTime":1252.05,"endTime":1254.36,"body":"to access a lot of"},{"startTime":1252.05,"endTime":1254.36,"body":"these different accounts"},{"startTime":1254.36,"endTime":1257.39,"body":"or credit card bills"},{"startTime":1254.36,"endTime":1257.39,"body":"or whatever it may be."},{"startTime":1257.39,"endTime":1262.07,"body":"It could be as simple as"},{"startTime":1257.39,"endTime":1262.07,"body":"medical records or something."},{"startTime":1262.07,"endTime":1263.96,"body":"It's the way it is today."},{"startTime":1263.96,"endTime":1265.43,"body":"You gotta have all this information."},{"startTime":1265.43,"endTime":1268.28,"body":"- You do."},{"startTime":1265.43,"endTime":1268.28,"body":"- So I like to tell people,"},{"startTime":1268.28,"endTime":1271.13,"body":"let someone know, let your"},{"startTime":1268.28,"endTime":1271.13,"body":"spouse know where that's at."},{"startTime":1271.13,"endTime":1274.25,"body":"And I take it a step further,"},{"startTime":1271.13,"endTime":1274.25,"body":"let one of the kids know"},{"startTime":1274.25,"endTime":1275.81,"body":"where that's at in case something happens"},{"startTime":1275.81,"endTime":1277.303,"body":"to both of you."},{"startTime":1275.81,"endTime":1277.303,"body":"- You should. You should."},{"startTime":1278.21,"endTime":1280.088,"body":"- [Doug] It'll just save a lot of hassle."},{"startTime":1280.088,"endTime":1281.21,"body":"- [Brian] I gotcha. I yell at my wife."},{"startTime":1281.21,"endTime":1282.927,"body":"I try to log in on something, she said,"},{"startTime":1282.927,"endTime":1285.14,"body":"\"The password's in a book in the desk.\""},{"startTime":1285.14,"endTime":1287.15,"body":"I look in the desk, there's six books."},{"startTime":1287.15,"endTime":1288.98,"body":"And the six books have 50 pages."},{"startTime":1288.98,"endTime":1291.29,"body":"I said, \"Could you help"},{"startTime":1288.98,"endTime":1291.29,"body":"me out here a little bit?\""},{"startTime":1291.29,"endTime":1293.36,"body":"So you're right to kind of"},{"startTime":1291.29,"endTime":1293.36,"body":"consolidate that one sheet"},{"startTime":1293.36,"endTime":1295.07,"body":"and keep it known, make it known."},{"startTime":1295.07,"endTime":1295.903,"body":"Make it known."},{"startTime":1295.07,"endTime":1295.903,"body":"- Make it easy, yeah."},{"startTime":1295.903,"endTime":1298.04,"body":"Just again, this communication"},{"startTime":1295.903,"endTime":1298.04,"body":"of where that's at."},{"startTime":1298.04,"endTime":1299.48,"body":"It's important."},{"startTime":1298.04,"endTime":1299.48,"body":"- It is."},{"startTime":1299.48,"endTime":1301.64,"body":"- [Doug] So the other"},{"startTime":1299.48,"endTime":1301.64,"body":"thing, I guess to me,"},{"startTime":1301.64,"endTime":1303.29,"body":"that I thought I would mention again,"},{"startTime":1303.29,"endTime":1305.57,"body":"we're kind of thinking of"},{"startTime":1303.29,"endTime":1305.57,"body":"a traditional couple here"},{"startTime":1305.57,"endTime":1306.8,"body":"that have been married the whole time,"},{"startTime":1306.8,"endTime":1311.54,"body":"but at this age, you"},{"startTime":1306.8,"endTime":1311.54,"body":"know, there are things"},{"startTime":1311.54,"endTime":1312.95,"body":"as a second marriage,"},{"startTime":1312.95,"endTime":1317.3,"body":"whether it's death or divorce, it happens"},{"startTime":1317.3,"endTime":1318.713,"body":"and it's fairly common."},{"startTime":1320.33,"endTime":1324.29,"body":"I think one of the things, to"},{"startTime":1320.33,"endTime":1324.29,"body":"me, having worked with clients"},{"startTime":1324.29,"endTime":1326.203,"body":"that have gone through that"},{"startTime":1324.29,"endTime":1326.203,"body":"process throughout the years,"},{"startTime":1326.203,"endTime":1329.27,"body":"you have to be even more open"},{"startTime":1329.27,"endTime":1331.314,"body":"with the communication process, Brian."},{"startTime":1331.314,"endTime":1332.21,"body":"What are your thoughts?"},{"startTime":1331.314,"endTime":1332.21,"body":"- I think"},{"startTime":1332.21,"endTime":1333.928,"body":"I'm much more open with that."},{"startTime":1333.928,"endTime":1336.86,"body":"- [Doug] There's usually each couples"},{"startTime":1336.86,"endTime":1338.24,"body":"coming into the relationship"},{"startTime":1338.24,"endTime":1339.65,"body":"or each person from the couple's"},{"startTime":1339.65,"endTime":1341.793,"body":"coming into the relationship"},{"startTime":1339.65,"endTime":1341.793,"body":"with different assets,"},{"startTime":1341.793,"endTime":1345.995,"body":"different issues, different children."},{"startTime":1345.995,"endTime":1350.87,"body":"And again, this idea of trying"},{"startTime":1345.995,"endTime":1350.87,"body":"to be open with each other"},{"startTime":1350.87,"endTime":1353.51,"body":"and you know, how do"},{"startTime":1350.87,"endTime":1353.51,"body":"you want things handled"},{"startTime":1353.51,"endTime":1356.43,"body":"in the event something"},{"startTime":1353.51,"endTime":1356.43,"body":"happens to one of you"},{"startTime":1358.601,"endTime":1361.64,"body":"and one of you doesn't"},{"startTime":1358.601,"endTime":1361.64,"body":"necessarily even have to be dead."},{"startTime":1361.64,"endTime":1364.58,"body":"It can be going into a nursing"},{"startTime":1361.64,"endTime":1364.58,"body":"home or a retirement home."},{"startTime":1364.58,"endTime":1366.501,"body":"How does that look?"},{"startTime":1364.58,"endTime":1366.501,"body":"What does it look like?"},{"startTime":1366.501,"endTime":1370.52,"body":"And, again, I think"},{"startTime":1366.501,"endTime":1370.52,"body":"this idea of being open"},{"startTime":1370.52,"endTime":1372.83,"body":"and maybe even open"},{"startTime":1370.52,"endTime":1372.83,"body":"taking it a step further,"},{"startTime":1372.83,"endTime":1374.828,"body":"with the children,"},{"startTime":1374.828,"endTime":1376.09,"body":"to alleviate stress."},{"startTime":1374.828,"endTime":1376.09,"body":"- I think that's"},{"startTime":1376.09,"endTime":1376.99,"body":"even more important."},{"startTime":1376.99,"endTime":1377.823,"body":"Absolutely."},{"startTime":1377.823,"endTime":1379.7,"body":"I think the kids' pieces"},{"startTime":1377.823,"endTime":1379.7,"body":"could be even more important"},{"startTime":1379.7,"endTime":1382.1,"body":"than just the spouse"},{"startTime":1379.7,"endTime":1382.1,"body":"because they're the ones"},{"startTime":1382.1,"endTime":1384.26,"body":"that are gonna be"},{"startTime":1382.1,"endTime":1384.26,"body":"affected really directly."},{"startTime":1384.26,"endTime":1386.03,"body":"You know, \"Hey, what"},{"startTime":1384.26,"endTime":1386.03,"body":"happens to me, mom and dad,"},{"startTime":1386.03,"endTime":1387.525,"body":"when something hits?\""},{"startTime":1386.03,"endTime":1387.525,"body":"- That's exactly right."},{"startTime":1387.525,"endTime":1389.783,"body":"And you know, again, you and I"},{"startTime":1389.783,"endTime":1391.61,"body":"have some tenure in this industry"},{"startTime":1391.61,"endTime":1393.627,"body":"and we both lived it"},{"startTime":1391.61,"endTime":1393.627,"body":"where people have said,"},{"startTime":1393.627,"endTime":1395.42,"body":"\"Don't worry, everything will be fine."},{"startTime":1395.42,"endTime":1396.95,"body":"The kids get along and-\""},{"startTime":1395.42,"endTime":1396.95,"body":"- Sure,"},{"startTime":1396.95,"endTime":1398.86,"body":"- [Doug] It doesn't always work that way."},{"startTime":1398.86,"endTime":1400.26,"body":"- [Brian] It really doesn't."},{"startTime":1401.18,"endTime":1402.35,"body":"- [Doug] So, again, unfortunately,"},{"startTime":1402.35,"endTime":1404.36,"body":"it comes back to my first point."},{"startTime":1404.36,"endTime":1406.04,"body":"Ultimately it comes back to the money"},{"startTime":1406.04,"endTime":1407.33,"body":"in many of these issues."},{"startTime":1407.33,"endTime":1410.96,"body":"And if somebody isn't sure"},{"startTime":1407.33,"endTime":1410.96,"body":"how that's supposed to go,"},{"startTime":1410.96,"endTime":1414.17,"body":"human nature is, that's my money."},{"startTime":1414.17,"endTime":1417.05,"body":"So if you're open and"},{"startTime":1414.17,"endTime":1417.05,"body":"forthright with everyone,"},{"startTime":1417.05,"endTime":1418.94,"body":"then they can kind of follow the plan"},{"startTime":1418.94,"endTime":1421.13,"body":"as to how that money should be handled."},{"startTime":1421.13,"endTime":1422.31,"body":"- [Brian] Correct."},{"startTime":1422.31,"endTime":1425.06,"body":"- [Doug] So let's move"},{"startTime":1422.31,"endTime":1425.06,"body":"on from there, Brian."},{"startTime":1425.06,"endTime":1428.0,"body":"Now we kind of move on to"},{"startTime":1425.06,"endTime":1428.0,"body":"the 70s or 80s, you know."},{"startTime":1428.0,"endTime":1431.01,"body":"You're aging, there are"},{"startTime":1428.0,"endTime":1431.01,"body":"different issues, again,"},{"startTime":1431.01,"endTime":1436.01,"body":"that are important during"},{"startTime":1431.01,"endTime":1436.01,"body":"this time of your life."},{"startTime":1436.25,"endTime":1438.284,"body":"I'll let you open this segment."},{"startTime":1438.284,"endTime":1440.149,"body":"What do you think?"},{"startTime":1440.149,"endTime":1441.38,"body":"- [Brian] Yeah, I think"},{"startTime":1440.149,"endTime":1441.38,"body":"at this stage, Doug,"},{"startTime":1441.38,"endTime":1443.6,"body":"you're trying to stay active, you know,"},{"startTime":1443.6,"endTime":1444.89,"body":"trying to have some purpose in life."},{"startTime":1444.89,"endTime":1446.63,"body":"You know, again, what's your spouse?"},{"startTime":1446.63,"endTime":1448.52,"body":"Is it in your interest?"},{"startTime":1446.63,"endTime":1448.52,"body":"Your better half's interest?"},{"startTime":1448.52,"endTime":1450.71,"body":"What are they looking to do?"},{"startTime":1450.71,"endTime":1454.279,"body":"You know, is your current home now"},{"startTime":1454.279,"endTime":1456.41,"body":"being too much for you to handle?"},{"startTime":1456.41,"endTime":1459.11,"body":"Are you entertaining a"},{"startTime":1456.41,"endTime":1459.11,"body":"retirement community?"},{"startTime":1459.11,"endTime":1459.95,"body":"What does that look like?"},{"startTime":1459.95,"endTime":1463.073,"body":"Does that fit what you"},{"startTime":1459.95,"endTime":1463.073,"body":"really wanna do or not?"},{"startTime":1464.09,"endTime":1466.13,"body":"And then even extend further the cost"},{"startTime":1466.13,"endTime":1468.62,"body":"of a facility that you may have to enter"},{"startTime":1468.62,"endTime":1470.066,"body":"because you need the care."},{"startTime":1470.066,"endTime":1472.16,"body":"So there's some conversations,"},{"startTime":1472.16,"endTime":1473.9,"body":"do we have the funds for that?"},{"startTime":1473.9,"endTime":1474.733,"body":"Do we not?"},{"startTime":1474.733,"endTime":1476.78,"body":"Is someone supposed to come"},{"startTime":1474.733,"endTime":1476.78,"body":"to the house then, you know,"},{"startTime":1476.78,"endTime":1478.1,"body":"a care giver come to the home?"},{"startTime":1478.1,"endTime":1479.491,"body":"And not that that's cheap either."},{"startTime":1479.491,"endTime":1483.83,"body":"So just a lot of, as you"},{"startTime":1479.491,"endTime":1483.83,"body":"begin to age to that level,"},{"startTime":1483.83,"endTime":1485.36,"body":"seventies, eighties, you know,"},{"startTime":1485.36,"endTime":1486.62,"body":"those are some serious questions"},{"startTime":1486.62,"endTime":1488.15,"body":"you really have to ask yourself."},{"startTime":1488.15,"endTime":1490.67,"body":"- And I, again, couldn't"},{"startTime":1488.15,"endTime":1490.67,"body":"agree with you more"},{"startTime":1490.67,"endTime":1495.05,"body":"having lived this with numerous"},{"startTime":1490.67,"endTime":1495.05,"body":"customers over my career."},{"startTime":1495.05,"endTime":1497.75,"body":"And I think part of that as well, Brian,"},{"startTime":1497.75,"endTime":1502.75,"body":"is this talking-as-a-couple"},{"startTime":1497.75,"endTime":1502.75,"body":"process, but also planning"},{"startTime":1502.85,"endTime":1504.47,"body":"and, if you will, pre-planning,"},{"startTime":1504.47,"endTime":1506.48,"body":"because you mentioned,"},{"startTime":1504.47,"endTime":1506.48,"body":"okay, if you wanna go"},{"startTime":1506.48,"endTime":1508.542,"body":"to a retirement community,"},{"startTime":1506.48,"endTime":1508.542,"body":"do you have the funds?"},{"startTime":1508.542,"endTime":1512.952,"body":"Some people may not have"},{"startTime":1508.542,"endTime":1512.952,"body":"the financial wherewithal"},{"startTime":1512.952,"endTime":1517.16,"body":"to go into a full type"},{"startTime":1512.952,"endTime":1517.16,"body":"of retirement community"},{"startTime":1517.16,"endTime":1518.9,"body":"or a nursing home if it's necessary."},{"startTime":1518.9,"endTime":1520.104,"body":"So what does that mean?"},{"startTime":1520.104,"endTime":1522.98,"body":"You should be talking"},{"startTime":1520.104,"endTime":1522.98,"body":"about that beforehand."},{"startTime":1522.98,"endTime":1527.0,"body":"And each of the people"},{"startTime":1522.98,"endTime":1527.0,"body":"within the relationship"},{"startTime":1527.0,"endTime":1529.479,"body":"should have kind of an idea"},{"startTime":1527.0,"endTime":1529.479,"body":"of what the other might want"},{"startTime":1529.479,"endTime":1531.08,"body":"or how to handle that."},{"startTime":1531.08,"endTime":1532.628,"body":"And what does that mean?"},{"startTime":1531.08,"endTime":1532.628,"body":"What do I mean by that?"},{"startTime":1532.628,"endTime":1535.88,"body":"Was one of the couple a veteran?"},{"startTime":1535.88,"endTime":1538.307,"body":"Are there some VA benefits"},{"startTime":1535.88,"endTime":1538.307,"body":"that might be available"},{"startTime":1538.307,"endTime":1539.407,"body":"or is there a VA home?"},{"startTime":1540.89,"endTime":1542.87,"body":"These are things you"},{"startTime":1540.89,"endTime":1542.87,"body":"need to be talking about"},{"startTime":1542.87,"endTime":1544.19,"body":"and you really need to talk about 'em"},{"startTime":1544.19,"endTime":1546.08,"body":"before an event happens."},{"startTime":1546.08,"endTime":1546.913,"body":"- [Brian] Oh yeah."},{"startTime":1546.913,"endTime":1549.35,"body":"I'd even take, as an offshoot to that,"},{"startTime":1549.35,"endTime":1551.24,"body":"what about, you know, your funeral plans?"},{"startTime":1551.24,"endTime":1552.74,"body":"I mean, shouldn't you, you know..."},{"startTime":1552.74,"endTime":1555.86,"body":"Some people, \"Hey, should"},{"startTime":1552.74,"endTime":1555.86,"body":"we take care of that all"},{"startTime":1555.86,"endTime":1557.08,"body":"before the kids have to?"},{"startTime":1557.08,"endTime":1558.08,"body":"We don't wanna put that on the kids.\""},{"startTime":1558.08,"endTime":1559.97,"body":"Or prepay it so we don't have to worry"},{"startTime":1559.97,"endTime":1561.44,"body":"about the financial piece of that too."},{"startTime":1561.44,"endTime":1566.44,"body":"So again, no one wants to deal"},{"startTime":1561.44,"endTime":1566.44,"body":"with the funeral arrangements"},{"startTime":1566.48,"endTime":1570.033,"body":"or how you envision your funeral to be had"},{"startTime":1571.52,"endTime":1574.04,"body":"when you pass away but"},{"startTime":1571.52,"endTime":1574.04,"body":"I think that's something"},{"startTime":1574.04,"endTime":1575.45,"body":"that definitely needs to be addressed too."},{"startTime":1575.45,"endTime":1577.28,"body":"- [Doug] Right? A great point."},{"startTime":1577.28,"endTime":1578.84,"body":"And then even tied with that, again,"},{"startTime":1578.84,"endTime":1581.42,"body":"we talked about it at length, you know,"},{"startTime":1581.42,"endTime":1582.95,"body":"when you're in your 50s and 60s,"},{"startTime":1582.95,"endTime":1584.03,"body":"this idea of estate planning,"},{"startTime":1584.03,"endTime":1585.89,"body":"but now it needs to really get refined"},{"startTime":1585.89,"endTime":1587.27,"body":"and the the reality is,"},{"startTime":1587.27,"endTime":1590.24,"body":"you're getting closer"},{"startTime":1587.27,"endTime":1590.24,"body":"to the end of your life."},{"startTime":1590.24,"endTime":1591.83,"body":"It's not gonna hopefully happen tomorrow."},{"startTime":1591.83,"endTime":1593.51,"body":"You know, people are"},{"startTime":1591.83,"endTime":1593.51,"body":"living into their 100s now,"},{"startTime":1593.51,"endTime":1597.53,"body":"but the idea is you have to be"},{"startTime":1593.51,"endTime":1597.53,"body":"ready and have a proper plan."},{"startTime":1597.53,"endTime":1599.787,"body":"And again, that's both you"},{"startTime":1597.53,"endTime":1599.787,"body":"being on the same page."},{"startTime":1599.787,"endTime":1603.83,"body":"Depending on the wealth"},{"startTime":1599.787,"endTime":1603.83,"body":"involved in the relationship,"},{"startTime":1603.83,"endTime":1606.63,"body":"there may be some tax strategies"},{"startTime":1603.83,"endTime":1606.63,"body":"you wanna be looking at"},{"startTime":1607.97,"endTime":1610.07,"body":"as part of the process."},{"startTime":1610.07,"endTime":1612.41,"body":"May even be some particular states"},{"startTime":1612.41,"endTime":1614.0,"body":"that you should be living in"},{"startTime":1614.0,"endTime":1617.66,"body":"due to certain state's state-tax laws."},{"startTime":1617.66,"endTime":1618.74,"body":"- [Brian] Correct."},{"startTime":1618.74,"endTime":1620.411,"body":"- [Narrator] These are just"},{"startTime":1618.74,"endTime":1620.411,"body":"things you wanna, again,"},{"startTime":1620.411,"endTime":1623.78,"body":"talking about and thinking through."},{"startTime":1623.78,"endTime":1628.16,"body":"So with that said, Brian,"},{"startTime":1623.78,"endTime":1628.16,"body":"kind of as we wrap this up,"},{"startTime":1628.16,"endTime":1629.69,"body":"any final thoughts you might have"},{"startTime":1629.69,"endTime":1633.29,"body":"just on some of these"},{"startTime":1629.69,"endTime":1633.29,"body":"issues that you've lived"},{"startTime":1633.29,"endTime":1635.78,"body":"from your own personal"},{"startTime":1633.29,"endTime":1635.78,"body":"or business experiences"},{"startTime":1635.78,"endTime":1636.613,"body":"over the years?"},{"startTime":1636.613,"endTime":1639.8,"body":"- [Brian] I'd just say, just"},{"startTime":1636.613,"endTime":1639.8,"body":"starting from my initial story,"},{"startTime":1639.8,"endTime":1642.83,"body":"I think you always try"},{"startTime":1639.8,"endTime":1642.83,"body":"to have a plan in life"},{"startTime":1642.83,"endTime":1645.47,"body":"and you need to make"},{"startTime":1642.83,"endTime":1645.47,"body":"revisions to those plans"},{"startTime":1645.47,"endTime":1649.347,"body":"as you journey down life's uncertain path"},{"startTime":1649.347,"endTime":1651.987,"body":"just to make sure you're"},{"startTime":1649.347,"endTime":1651.987,"body":"on the right track."},{"startTime":1651.987,"endTime":1653.736,"body":"That's really what it boils down to."},{"startTime":1653.736,"endTime":1656.27,"body":"- [Doug] I follow that up with, Brian,"},{"startTime":1656.27,"endTime":1658.85,"body":"I always tell my wife."},{"startTime":1658.85,"endTime":1661.07,"body":"Every year we try to sit down for..."},{"startTime":1661.07,"endTime":1662.75,"body":"It doesn't have to be for hours and hours,"},{"startTime":1662.75,"endTime":1664.85,"body":"but at the end of the year,"},{"startTime":1664.85,"endTime":1666.56,"body":"and I've told this to"},{"startTime":1664.85,"endTime":1666.56,"body":"clients over the years,"},{"startTime":1666.56,"endTime":1667.71,"body":"at the end of the year,"},{"startTime":1668.822,"endTime":1670.85,"body":"you should have 15,"},{"startTime":1668.822,"endTime":1670.85,"body":"30-minute, hour conversation."},{"startTime":1670.85,"endTime":1672.298,"body":"What's changed during the year?"},{"startTime":1672.298,"endTime":1674.54,"body":"What do we think might"},{"startTime":1672.298,"endTime":1674.54,"body":"change the next year?"},{"startTime":1674.54,"endTime":1675.59,"body":"How should we plan for it?"},{"startTime":1675.59,"endTime":1677.157,"body":"How should we budget for it?"},{"startTime":1675.59,"endTime":1677.157,"body":"- Right. Yeah."},{"startTime":1677.157,"endTime":1678.944,"body":"- [Doug] It's healthy."},{"startTime":1678.944,"endTime":1680.6,"body":"And then you can plan properly"},{"startTime":1680.6,"endTime":1682.79,"body":"and kind of make sure"},{"startTime":1680.6,"endTime":1682.79,"body":"you're on the same page"},{"startTime":1682.79,"endTime":1684.14,"body":"as you keep moving forward."},{"startTime":1685.22,"endTime":1686.45,"body":"So, very good. Thank you."},{"startTime":1686.45,"endTime":1687.59,"body":"Thank you for all your comments."},{"startTime":1687.59,"endTime":1689.93,"body":"So as we conclude, those are some thoughts"},{"startTime":1689.93,"endTime":1691.76,"body":"on some of the key financial issues"},{"startTime":1691.76,"endTime":1693.134,"body":"that we think you should be discussing"},{"startTime":1693.134,"endTime":1695.87,"body":"with your partner throughout"},{"startTime":1693.134,"endTime":1695.87,"body":"your relationship."},{"startTime":1695.87,"endTime":1698.57,"body":"In closing, be sure to subscribe"},{"startTime":1695.87,"endTime":1698.57,"body":"to \"Your Financial Journey\""},{"startTime":1698.57,"endTime":1701.12,"body":"on either Apple Podcast or Spotify."},{"startTime":1701.12,"endTime":1702.389,"body":"Please call Brian or me"},{"startTime":1702.389,"endTime":1704.96,"body":"or any of the Providence"},{"startTime":1702.389,"endTime":1704.96,"body":"Wealth Advisors staff"},{"startTime":1704.96,"endTime":1706.38,"body":"with any questions you might have."},{"startTime":1706.38,"endTime":1708.491,"body":"Thanks for listening."},{"startTime":1706.38,"endTime":1708.491,"body":"(light music)"},{"startTime":1708.491,"endTime":1711.8,"body":"- [Narrator] Providence"},{"startTime":1708.491,"endTime":1711.8,"body":"Wealth Advisors, LLC or PWA"},{"startTime":1711.8,"endTime":1714.38,"body":"is a holding-owned affiliate"},{"startTime":1711.8,"endTime":1714.38,"body":"of Providence Bank \u0026 Trust,"},{"startTime":1714.38,"endTime":1715.76,"body":"or PB\u0026T."},{"startTime":1715.76,"endTime":1718.4,"body":"The investment products"},{"startTime":1715.76,"endTime":1718.4,"body":"and services offered by PWA"},{"startTime":1718.4,"endTime":1720.35,"body":"are independent of the"},{"startTime":1718.4,"endTime":1720.35,"body":"products and services"},{"startTime":1720.35,"endTime":1724.19,"body":"offered by PB\u0026T and are not"},{"startTime":1720.35,"endTime":1724.19,"body":"FDIC Insured, may lose value,"},{"startTime":1724.19,"endTime":1726.14,"body":"are not bank guaranteed"},{"startTime":1724.19,"endTime":1726.14,"body":"and are not insured"},{"startTime":1726.14,"endTime":1728.21,"body":"by any federal or state government agency."},{"startTime":1728.21,"endTime":1729.62,"body":"Investment products and services"},{"startTime":1729.62,"endTime":1731.24,"body":"are offered by appropriately licensed"},{"startTime":1731.24,"endTime":1733.07,"body":"investment advisor representatives,"},{"startTime":1733.07,"endTime":1736.22,"body":"subject to the general"},{"startTime":1733.07,"endTime":1736.22,"body":"oversight and authority of PWA."},{"startTime":1736.22,"endTime":1738.38,"body":"To the extent that any"},{"startTime":1736.22,"endTime":1738.38,"body":"client or prospective client"},{"startTime":1738.38,"endTime":1740.21,"body":"utilizes any economic calculator"},{"startTime":1740.21,"endTime":1741.8,"body":"or similar interactive device"},{"startTime":1741.8,"endTime":1744.2,"body":"contained within or linked"},{"startTime":1741.8,"endTime":1744.2,"body":"to the firm website,"},{"startTime":1744.2,"endTime":1745.91,"body":"the client and/or prospective client"},{"startTime":1745.91,"endTime":1747.17,"body":"acknowledges and understands"},{"startTime":1747.17,"endTime":1749.06,"body":"that the information"},{"startTime":1747.17,"endTime":1749.06,"body":"resulting from the use"},{"startTime":1749.06,"endTime":1750.83,"body":"of any such calculator or device"},{"startTime":1750.83,"endTime":1753.83,"body":"is not and should not be"},{"startTime":1750.83,"endTime":1753.83,"body":"construed in any manner whatsoever"},{"startTime":1753.83,"endTime":1756.23,"body":"as the recipient of, or a substitute for,"},{"startTime":1756.23,"endTime":1758.72,"body":"personalized individual"},{"startTime":1756.23,"endTime":1758.72,"body":"advice from the firm"},{"startTime":1758.72,"endTime":1760.91,"body":"or from any other investment Professional."},{"startTime":1760.91,"endTime":1764.39,"body":"PWA is an SEC-registered"},{"startTime":1760.91,"endTime":1764.39,"body":"investment advisory company."},{"startTime":1764.39,"endTime":1768.26,"body":"To obtain a copy of their"},{"startTime":1764.39,"endTime":1768.26,"body":"ADV, Part 2A and Form CRS,"},{"startTime":1768.26,"endTime":1771.65,"body":"visit www.providencewealth.com."},{"startTime":1771.65,"endTime":1774.5,"body":"PWA is located throughout"},{"startTime":1771.65,"endTime":1774.5,"body":"the Chicagoland area"},{"startTime":1774.5,"endTime":1775.88,"body":"and Northwest Indiana."},{"startTime":1775.88,"endTime":1780.56,"body":"To contact PWA, call 888-927-7387,"},{"startTime":1780.56,"endTime":1783.95,"body":"email askexperts@providencewealth.com"},{"startTime":1783.95,"endTime":1787.1,"body":"or write to 20220 South Lagrange Road,"},{"startTime":1787.1,"endTime":1789.773,"body":"Frankfort, Illinois 60423."}]}