A Wiser Retirement®

276. How to Make Sure You're Ready for Retirement

• Wiser Wealth Management • Episode 276

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Join us on this episode of A Wiser Retirement® Podcast, where we break down the essential steps to help you prepare for a secure and fulfilling retirement. From creating a realistic budget and eliminating debt to maximizing Social Security and Medicare benefits, we cover key financial strategies to set you up for success. 

Related Podcast Episodes:
- Ep 245: Strategies for Early Retirement and Long-Term Security
- Ep 212: Medical Costs During Retirement and Preparing for the Unexpected 

Related YouTube Videos:
- Investing for Income vs Growth in Retirement: Finding the Balance
- The 4% Rule in Retirement Isn’t for Everyone
- Tips to Sustain Your Current Lifestyle During Retirement

Learn More:
- About Wiser Wealth Management
- Schedule a Complimentary Consultation: Discover how we can help you achieve financial freedom.
- Access Our Free Guides: Gain valuable insights on building a financial legacy, the importance of a financial advisor for business owners, post-divorce financial planning, and more!

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This podcast was produced by Wiser Wealth Management. Thanks for listening!

Creating a Realistic Retirement Budget

Speaker 1

got to make sure you're living below your means, but also create a realistic budget. Realistic budget, not the bare bones budget.

Speaker 1

Why would you even want to retire if you went into retirement with a bare bones budget. You want to go in doing the stuff that you've been meaning to do for all these years, so come up with a realistic cashflow budget. How much is coming in? How much is going out? Welcome to Wiser Retirement Podcast. Are you curious about making sure you're ready for retirement? I'm Casey Smith. Today, I'm joined by financial advisor Michaela Dowdy. Each week, we bring you practical advice on retirement, investing and planning for your financial future. Don't forget to subscribe to the podcast wherever you're listening. Let's get started, Mikayla.

Speaker 2

Hey.

Speaker 1

Superstar Mikayla. People I go into meetings with you and they don't quite see you yet. You're like maybe doing some last minute stuff, something I don't know, and people go is Mikayla not joining us today? You're more famous than me, I don't know, and people go. Is Michaela not?

Speaker 3

joining us today.

Speaker 1

You're like, you're more famous than me and I've been here for like 25 years, so I don't know. This is the Michaela show now, guys. No, no, no, no, no, michaela's taking over. I'm worried about my job. I'm hoping they keep me around Between you and Grace. Everybody wants to see Grace, everybody wants to see Michaela. I don't know William and I, or Andrew, or Chop Lover.

Speaker 3

We're just there to keep the good times going. Make sure everyone's having a great time. Everyone's taken care of, I think it's your knowledge, not the good time.

Speaker 1

I love this episode because we get to talk about one of my favorite downloads on our website, which is, uh, basically, the rocket ship one right, are you, are, you're, are you're? Uh, I can't, I can't talk this morning. Uh, your pre-retirement checklist, and we have a space shuttle coming up out of the earth, out of the ground, you know, off the pad. I've been to a couple of rocket launches. There's a lot of fun. My, uh, my next uh adventure that it's not planned but is to fly the cessna 182 all the way to texas and go see a starship launch oh, that would be neat, that's my.

Speaker 1

that's my next on my agenda that would be really neat, it'd be fun. Unfortunately, all the people who'd want to go with me will not fit in the Cessna, so that's kind of the hesitation. I feel like, but I'll just do it in the middle of the week I'll have a few friends and go in the middle of the week.

Speaker 3

There you go. Then your guest list becomes much smaller.

Speaker 2

The availability, is a little different.

Speaker 3

But then you might have the shocker, where all of them are like I'll just take off work Then you put yourself in a pinch. That's right.

Speaker 1

Yeah, I don't even know when the next one is, or I'm sure I can't make it, but yeah, it's so cool to see those starships at least live on TV. I can't imagine what it's like in person Of course.

Speaker 3

Well, I thought it was funny looking at this this morning, um when I was reviewing it, that I was genuinely was like wow, this is so still on brand, knowing that this is something that we crafted a couple years ago, but with all of the overall like rocket launches that continue to happen on now like a daily basis. It seems like.

Speaker 1

It seems like um spacex is constantly launching oh yeah, the several launch rocket launches every single week. Obviously they're, they're putting more star links in the air. But, uh, even down at kennedy that's that's where my son and I and a friend of mine went down, and my dad went down a couple years ago uh, we saw, uh we've seen, two nasa launches, so we're so spacex carrying the nasa to international space station. That was really cool. It's always at weird times, though, and the last one got rescheduled I'm not, I'm not kidding like four or five times. Uh, so I just had to keep rebooking my Delta flights until, uh, until eventually, we, we, uh, we, we were able to get down there and they launched it.

Speaker 1

I don't know, I think it was like one o'clock in the morning or something, so it was. It's kind of crazy, but let's talk about getting ready for retirement, cause most people probably don't care about rockets that much. All right, so we, we designed this download guide on our website to count down. Like you know, we're five seconds from blast off, right, and you can only imagine that, even if you've done it, you know so many times, uh, I don't know how many times someone would go to space. Actually, at the astronaut hall of fame there's the modern space. People have gone many times where you know some of the first people went once, or once or twice, right, but I can't imagine this had to be some anxiety or, you know, just tension about getting in with all the liquid oxygen behind you could blow up in a second, hopefully blow up the correct way and and uh, get you to space, but I came at it.

Speaker 1

but for a lot of families, though, there's also some concern anxiety over retirement, because you don't have a paycheck anymore.

Speaker 3

Definitely. Well, I think it's like you're saying, with that anxiety, it's almost in those moments, I know, when it's like a countdown to anything. It's always like you're going through all the scenarios that can happen and, of course, our brains are always going to focus on the worst case scenario and so that just causes even more anxiety. So it's like, I'm sure, if you're an astronaut sitting in the seat, I don't know if it's a cockpit at that point.

Speaker 1

No.

Speaker 3

Maybe, not but if you're sitting in the seat, then you're just having to know that, okay, there's the potential that this could blow up, like we've seen at different points, but there's potential this could go very smoothly, like we've also seen many times. So you just have to kind of know that there is those best and worst case scenarios, but to be able to plan for those the best way you can.

Speaker 1

So the best way to plan for it is to determine how much income you're going to need. So number five T minus T5 is cash flow. So when you think about getting ready for retirement we talk about this all the time on our podcast but you've got to start eliminating debt. We have clients all over the spectrum. We have clients that if they don't retire on $250,000 a year, they're concerned. We have clients that live on $35,000 a year and happy as can be.

Speaker 1

It just depends on your lifestyle and what's important to you. You've got to clear out the debt. If you clear out the debt, then that means that you need less cashflow, or you have. You know the less going out means, the more you get to keep in. So if all you have to do is cover your utilities and you know insurance, things like that all your basics then that should allow you to do a lot more more things in retirement.

Speaker 1

There are people that carry mortgages into retirement, but not for long. Uh, we typically like to get mortgages paid off, and if they have a second or third home and there's a mortgage on it especially if it's in a rental property I'm not as concerned about that. Uh, just because usually they're self-sufficient for the most part, but you really want to wrap up those auto loans, credit card debt especially Hopefully you don't have any to begin with and think about big ticket items that could affect cash flow Right at retirement. It's probably not the best time to be replacing windows, doing the roof HVAC, unless you have the cash to be able to do that. You also think about big ticket items, so you still have to save a little bit in retirement to make sure that you can cover your next car purchase and things of that nature.

Speaker 3

Of course, and I think it's giving yourself that peace of mind in that cash flow.

Speaker 1

So you got to make sure you're living living below your continue to live below your means but also create a realistic budget. Realistic budget, not the, not the bare bones budget. We don't ever know why would you want to retire. If you went into retirement with a bare bones budget? You want to go in and doing the stuff that you've been meaning to do for all these years, so come up with a realistic cashflow budget. How much is coming in, how much is going out?

Speaker 3

Which I think is one of the hardest questions we ask our clients in all honesty. No one ever knows no one knows ever what they want to spend in retirement, whether they're three months away or they're 30 years it's, I have no idea. I need to go look at our credit card statements or I need to go look at our bank statements to figure out what we actually spend each month or they're like, well, we have this budget now.

Speaker 3

If they do have a crafted out spreadsheet and it's like, well, this expense won't exist anymore. In retirement this expense won't exist. So it's just finding that number can be really difficult, but it's also knowing that once you get to your stage of retirement I mean we like to say that that first year of retirement is really finding out what your spending needs to be. In some ways we can plan for a roundabout number that works for your plan, but overall, if that what you can spend in retirement can fluctuate slightly, just based on your own needs as well.

The Pre-Retirement Countdown Checklist

Speaker 1

Higher wage earners. It's harder for them because they're saving well, they have a lot of discretionary income. They just kind of do what they want to do. So for those families. It can actually be harder for the families that have always been on more tight budgets most of their lives All right. So T-4 until blast-off or retirement let's talk about Social Security. T-4, social Security off or retirement. Let's talk about social security T4, social security. 90% of Americans actually take their social security at their full retirement age, which for most people now is going to be 67. However, if you do the math, most Americans probably should be waiting until age 70. And the reason why is what, michaela?

Speaker 3

It grows at 8% a year, every year. From 67 to 70.

Speaker 1

So that 8% is in addition to the inflation rate. So if you have a 3% inflation, then you're looking at a 11% growth in your pension benefit. Exactly, and people try to do the math. I've I've had clients show us Excel spreadsheets and why they should take the money and invest the money and none of the math adds up in the end if you do it correctly. Uh, it's it you want.

Speaker 1

You want to ideally delay until 70. Now there are cases where younger spouse maybe take it for retirement age, but older spouse, um, you know, it goes at 70. Uh, if you. But older spouse, you know, goes at 70. If you, if you're also, you know, if you have a spouse, especially a non-working spouse, they're eligible for half your social security but they take theirs prior to 67, then there's a penalty involved. You're not going to get all of your of your spouses or half of your spouse's social security, all of the half. I should say so it it just makes, it just makes more sense to be to be delaying. You can take it at 62. I, I, I think there's very, very few cases where that would ever make sense to take social security age 62.

Speaker 3

No, that's really. I mean only if you're having some sort of health scenario or some sort of emergency.

Speaker 1

Yeah, you have no other income, but that possibly. So delaying social security is is is typically the right thing to do. There's a saying that they're good Financial advisors are going to tell you to delay social security because it doesn't benefit them, right. They're going to tell you to be generous, give away your money, um. And they're going to tell you to pay off debt. Those are three things that all good financial advisors say. Uh. So there's a lot of advisors out there that would tell you to take it as soon as possible, and that's simply because, um, if they're managing your assets which you know, 90, 94% of our industry does what they're built to do Um, if, if all of their clients are taking social security early, that's less money that comes out of the portfolios, which affects their revenue. Uh, same way of being generous there's less money if you give it away. And paying off debts same thing. So you just be careful of that when you talk to, when you talk to people, um, all right. T3, medicare Medicare is this four-headed ugly dragon that most people don't understand. So if you come to our firm, we have some great professionals that we refer you out to that help you.

Speaker 1

Logan Steele has been on the podcast several times. He's my number one go-to guy. He's my number one go-to guy. So you just got to remember that. You've got to be. You got to sign up by 65, give it a few months, right? If you're retiring earlier than 65, then you need to go solve the problem before you retire. So that's going to be what COBRA.

Speaker 3

Potentially, looking at the marketplace, even the Affordable.

Speaker 1

Health Care Act some people call it Obamacare. That's still around for now. So you might consider that in our, in our planning, we assume the worst. We assume that you buy the best policy you can. You can find yes, so a couple would be about what?

Speaker 3

24,000 a year prior to retirement yes, definitely In 2025.

Speaker 1

So so we assume that. But then when it comes to execution, if you have, like, brokerage account money, you can live on your brokerage account money at a very low tax bracket if any tax bracket and then that would give you the opportunity to go to their forward health care act with very little income. So typically below 70,000 a year is taxable income. We'll get you a pretty good subsidy.

Speaker 3

Yes, it will Exactly, and I mean going into that health I think it's healthcaregov website they have, like the health Sherpa that can kind of guide you through exactly what policies could be the best options for you, um, and really just helping you maximize that affordable care act um, specifically even for your zip code. That's been the most fascinating thing um to me going through and watching clients go through the Medicare process. Is that or not even Medicare, but the marketplace healthcare process prior to Medicare age, is that genuinely it even comes down to for those um, affordable Care Act subsidies even. What zip code do you live in? What they look like? And so it can just get definitely more complex and complicated than it even needs to be. But there are definitely great professionals out there that can assist clients in getting those policies set up. But just making sure that you're in contact with someone at least six months prior to retirement if you're retiring early, and if you uh are just head in the sand.

Speaker 1

You got to sign up. Uh, well, you should sign up three months prior to the month you turned 65. That's when you should be starting the signup process, uh, but if you don't um sign up within seven months, then, uh, you're going to pay a higher premium going forward. So that's kind of a penalty if you don't sign up in time. If you're still working, that's fine, just to be able to prove later, when you do sign up, that you are working. I guess I'll go through this real quick.

Speaker 1

Part A covers hospital expenses. I guess I'll go through this real quick. Part A covers hospital expenses. Part B covers medically necessary services and preventative care, like doctors, lab tests, outpatient care. All that falls under Part B. Part D is optional and it covers prescriptions costs.

Speaker 1

So you can get a Medicare Advantage or a Medigap plan which will supplement part A and part B. Uh, you have to choose one, you don't choose both. Uh, part A and B will cover by 80% of approved medical costs. Uh, medical, uh. Medigap policies will fill in gaps of part A and part B. Uh, medicare advantage plans will fill in gaps of Part A and Part B. Medicare Advantage plans sometimes are called Part C often include benefits beyond Part A and B and are typically issued by private companies like an HMO or a PPO. So those policies could be cheaper than a Medigap policy.

Speaker 1

But every single plan is a little bit different. I feel like there's like 500 choices just in our state alone. Uh, this is where we depend on Logan to determine which, which policy is better for you. So, um, some of it comes down to med medication. So the clients that I've helped, um, uh, you know, got super in the weeds with. There were certain meds that were not covered by once. We next year switched them to a different one and it was covered went from like $400 to $4.

Speaker 1

So you just, it's a bit of a game and it's something you want to revisit every now and then if there's major medical changes, for sure. Now, some of the in some of the plans, you have opportunity to get in, or if you choose not to get in, you can never get in again.

Cash Flow Planning and Debt Elimination

Speaker 3

So there's a lot of things that you want to make sure that you're doing right around age 65. Yes, and then also just making sure if you do choose a Medicare Advantage plan, some of those have it to where you won't necessarily be able to go back to getting just Medicare and a Medigap policy. So just being mindful of that as well, that once you've made that decision, typically you're kind of stuck into that decision. Are you curious why annuities keep coming up as a potential investment option? People are often told that annuities can effectively mitigate investment risks and help secure their financial future. However, annuities often benefit the salesperson and might not be the best choice for you as a consumer. To learn more about the various types of annuities, the negatives of owning them and better investment alternatives, we have a free ebook on our website just for you To download our ebook. Buyer, Beware, why Do they Keep Trying to Sell you that Annuity? Simply click the link in the episode notes or visit wiserinvestorcom slash guides. Now let's get back to the episode.

Speaker 1

T minus two seconds until liftoff Investments. So I don't know Investment. It's always difficult with people. Sometimes you think that your portfolio has to get super conservative when you turn 65 or you go into retirement, and that's not necessarily the case. Uh, your money is now going to work. You're retiring, but your money is going to go to work. So your biggest thing you get to fight over the next 30 years hopefully 30 years is inflation, so you can't retire with, like your grandfather's portfolio where you have all bonds and cds this doesn't work, even in a 4% to 5% environment.

Speaker 1

now that just doesn't work anymore.

Speaker 3

No, no, you need to have investments in the broader market just to make sure that you are keeping up with that inflation. And that's the big thing is, you can balance between being in the market to keep up with inflation while also having the bonds and all of that also associated with your portfolio to have both sides. But you do definitely still need to keep the equities and overall stock market invested in your portfolio just to keep up with that overall inflation market.

Speaker 1

What I would do is consider three buckets. Your first bucket is going to have at least two years of your expenses in it. Your second bucket is going to have your bonds, which would be about 40% of your investable assets outside of the cash bucket. And then the third bucket has about 60% of your stock. The stock and the bond port buckets are pouring interest and dividends into the cash bucket on a regular basis. Your monthly expenses would come from the cash bucket. So I mean this is why we manage money for people in retirement because you want to rebalance at the right time and you want to do things in the right order to protect each bucket. But when the market's high, you take the price gains from the stock investing and you sweep it into the cash bucket. If the market's low, you don't sweep any gains right, you might do some tax loss harvesting, you might do some rebalancing, but you're mostly living off of your cash bucket. So the idea is that you can go two years without a whole lot of anxiety because you have the cash reserve. Otherwise you just you know, you just keep sweeping off the gains. Keep the bucket, the cash bucket, full. So this is a process that Andrew does for us here at Wiser for retirees it works really well. But, more importantly, when you have times like as we're recording this, the market's been down for a couple of weeks now. We have correction territory around 10% on the NASDAQ. S&p will probably get there soon enough, but it's okay. It's okay If you're retired you don't have any job income anymore.

Speaker 1

You're not necessarily buying more cheaper. This process insulates you from that. So you keep getting your paycheck but you're not taking losses in the portfolio. If you have more concerns, because typically we're doing this for the client, but then the client has their own cash reserves, typically $50,000 to $100,000 in addition to that. So it's really. Investments can really keep going, but you just have to build in the cash, and that was a hard job. A couple of years ago, cash was like yielding zero.

Social Security Timing Strategies

Speaker 1

Now at least we're getting 4% as a default and we can squeak out a little bit more here, here and there. So just think about that in terms of your investments and how, how you would, how you'd handle that, all right. So really, we've got healthcare covered. We talk about investment strategy. We talked about even just cashflow and understanding what your expenses are. I think one of the most important things for at least our client base. I mean, if you're coming to a wealth management firm, you're probably doing okay, right, so it's just doing the fine tuning, but a lot of people are missing T1, one second prior, and that's purpose.

Speaker 3

They are. It's so difficult because I think even before retirement people, I think, struggle with that, but I think retirement highlights it. You no longer have that set in stone schedule to report, to work every day and go into the office and see your coworkers or whatever that may be. So if you're lacking community outside of the office or if you don't have a hobby that you've invested time into, then this can definitely be an area where retirement can seem the scariest because it is stepping outside of the routine you've built up for you know, 30, 40, 50 years, depending on how long you've worked before retirement. And it can be very difficult for clients to transition that mindset from the working environment to the. I've worked now what um? And it for to not feel um like a struggle for them to have to come to that conclusion of what would be their purpose in retirement. That's not just like I'm going to go to the pickleball court and you know, that's great.

Speaker 3

That can be someone's purpose 100%, cause there's great community to be found on a pickleball court. I see guys at my golf club every day. They just sit there.

Speaker 1

they come in, they eat breakfast, they go play nine holes or 18 holes, they eat lunch and they just sit there.

Speaker 3

no-transcript not for you anymore.

Speaker 1

I don't know, it seems like a waste. Those are really smart people, these are really successful people Like I just feel like get involved, do something, help, help help the next generation. And maybe they are. I mean, I want to judge them, but I I would. I would say you for me, when I left aviation over 10 years ago, it was really strange because I was going running 100 miles an hour and I was flying at night, working here in the daytime and doing that cycle. There's a part of me that was like OK, I have kind of lost that. That purpose and that place is more of an not necessarily a purpose.

Speaker 1

I've always had a purpose, but just where, where's my place, now that I'm not the aviator you know, um, and so I I can. I can relate, especially the people who, uh, are pilot clients. You've been flying every day and and, and then you're not there. And, oh my gosh, planes still fly without you, right, your company's still running, you're not there. How's that possible? You were so important, you had to be there every single day, right?

Speaker 1

And so, especially for men, we put so much of our, of our identity into what it is that we do, exactly that you, you have to decide. What is it you know I give usually I tell the clients that work with me is that I give you a couple of days on the couch, or a couple of weeks on the couch, and then after that, you gotta, you gotta get up and go do something. So it's whether your church or or organization you can help others, or it could be your own family, it could be. You have grandkids now and, and your kids are busy professionals. Someone, someone ought to be there pouring, pouring into them and their, their lives, right?

Navigating Medicare and Healthcare Costs

Speaker 3

Well, I think that's what's so powerful about once you have reached retirement is you get to transition to being a storyteller in so many ways, and your story is so pivotal to be seen and heard and understood, and so it's you're getting to pass on all of the wisdom that you've accumulated so far, I mean, and because there's still much life to be had at retirement, and so you're still getting to gather wisdom. But really you are someone that is so wise because of the experiences you've had, and so it's something that being able to realize that retirement is not the end of your wisdom journey and it's not the end of your wisdom journey and it's not the end of your life journey at all by any means. If anything, it's just a transitionary period to where you're becoming a storyteller of what you've learned throughout life. And I think that's something that's huge for retirees to understand is that you are that person. Now you have the ability to fully be a mentor, in so many different capacities, for those in your life that are important to you or to those communities that are important to you, and so it's really stepping into those spaces and having the courage to step into those spaces that I think is huge for retirees to really find their purpose and to continue to feel purposeful in retirement is. It's those people that you see they can go through trials, through retirement, whatever it may be.

Speaker 3

But I feel like the ones you see that are the most fulfilled are the ones that still have a busy schedule relatively. When you're talking to them, they still have a lot going on and it's you kind of laugh because you're like, wow, you're supposed to be, they still have a lot going on. And it's you kind of laugh because you're like, wow, you're supposed to be retired, yet I can't get a breakfast with you. What's going on? And they're like, well, I've just volunteered these different things, I've done this, you know activity that's coming up, or I'm a part of this sports team, whatever, and it's something that for them, like they've crafted this schedule that is just like almost a work environment in some ways of it's still a routine. I mean a lot of. We're humans. We typically most of us thrive on a routine to some extent, and so it's just finding your new routine and the new dance of life in a lot of ways.

Speaker 1

Yeah, and you could do the things you've been meaning to do, because there's the old saying, right, there's the go-go years, the slow-go years and the no-go years, and the costs of all three are about the same. They're just spending money differently. But you have to get people up and moving. Sometimes in our review meetings we got an email from our family recently that I've been after for a couple of years. So you've got to, you've got to go travel and they finally finally started traveling, which is exciting to hear. You know, in their particular case they were. They thought the world was as CNN told them it was, and the world's actually not like that.

Speaker 1

There are a lot of scary things out there, but we shouldn't be sitting home and not not going on cruises and beach trips because we're concerned about COVID, that's. That's kind of over now. Um, all right, great, we did it, we got. We got there, we're retired, the rocket's launching off the pad. We were successfully in a retirement orbit now and we're happy that we've helped so many people get there. I think the next part to just add a plug for our firm here, which I tried not to do a whole lot on the podcast.

Speaker 1

But you have to find good advice. You have to find people that can help you go through this launching process that don't have their own agenda and Wiser. There's no conflict-free firm technically. But you can eliminate a lot of conflict by being a fiduciary firm and a fee-only firm and that's how we're set up and that's the important part. If the advice that you're getting is biased advice because in the end they're receiving a commission from selling you an annuity yuck or selling you mutual funds and you're getting a trailing fee and all these things, that's not advice, that's sales. It's no different than buying a car.

Speaker 1

At that point, do you really think the guy at the Honda dealership is going to tell you to go buy a Toyota? Or the Ford dealership is going to say, go buy a Chevy right. Or Ferrari says go buy a Lamborghini right. I mean, that's not going to happen because they have their interests in their product. That's that's not going to happen because they have their interests in their product and that's what you want to avoid. And unfortunately, only 4% of our industry is a fiduciary fee only set up. It should be a hundred percent. The government should change that, but they can't. Well, they could, but the problem is that special interest groups, such as insurance companies which sell annuities, have a lot of money and they have a lot of money because of all the commissions that they charge on all the products and they use that money to make sure that they can continue selling those things. So just be careful. Make sure you're working with a fiduciary feeling advisor, such as Shauna here at our firm, michaela here at our firm, or myself, and we are happy to help you.

Speaker 1

You can go to wiserinvestorcom to find out more information. There's a link in the show notes. And then also we have a couple of podcasts you might listen to Episode 245, strategies for Early Retirement and Long-Term Security. Episode 212, medical Costs During Retirement and Preparing for the Unexpected. That one probably was with Logan. That's a good one. And then we have a YouTube channel, a Wiser Retirement. Search for that on YouTube. Investing for Income versus Growth in Retirement, finding the Balance the 4% rule isn't for everyone Tips to sustain your current lifestyle during retirement All those are videos we've linked to here in the show notes. Have a great week, everybody. We'll see you next time.

Speaker 2

Thanks for listening to a Wiser Retirement Podcast. We hope you enjoyed today's episode. Make sure to subscribe wherever you're listening. That way you don't miss any new episodes. We'd also appreciate if you could leave a rating and review. If you have any questions about anything that was discussed today, head to wiserinvestorcom and reach out.

Speaker 2

This episode was produced by Rachel Dotson. This podcast is strictly for informational purposes only and is not to be considered as investment advice or solicitation to buy or sell any financial products, securities, digital assets or any other investment vehicles or a basis to make any financial decisions. Wiser Wealth Management Incorporated is a registered investor advisor with the SEC. The host and or guests may personally own securities, digital assets or other investment vehicles mentioned on this podcast. Neither the host nor guests of the show are compensated for their participation and no referral fees are paid to or received by any host or guest for clients, listeners or similar interests. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial advisor, tax professional, insurance professional and or legal professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.