Wealth from Wisdom

100th Episode: Paul West And Ron Carson Take A Look Back At The Past Two Years And Gauge What The Future May Hold

August 03, 2019
Wealth from Wisdom
100th Episode: Paul West And Ron Carson Take A Look Back At The Past Two Years And Gauge What The Future May Hold
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Wealth from Wisdom
100th Episode: Paul West And Ron Carson Take A Look Back At The Past Two Years And Gauge What The Future May Hold
Aug 03, 2019
Carson Wealth
Show Notes Transcript

In our 100th episode, Paul West is joined by Ron Carson to look back at the last two years and gauge what the future may hold.

Speaker 1:
0:00
Okay, and here's the legal Mumbo jumbo. The opinions voiced in wealth from wisdom with Rod Carson or for general information only and are not intended to provide specific advice or recommendations for any individual to determine what is appropriate for you. Consulted, qualified professional. All indices are unmanaged. I may not be invested into directly. Investing involves risk including possible loss of principle, no strategy, sure of success or protects from loss. Past performance is no guarantee of future results. Advisory Services offered through Cwm, LLC and SCC registered investment advisor.
Speaker 2:
0:30
The stock market hit another all time. Records as much as $10 billion in social security benefits go unclaimed every single year. Federal Reserve announced that they will raise interest rates by 250 skyrocketing cost of healthcare and retirement could now run 350,000 words hard and save for retirement. That's great, but it's what you do with that money that really matters. Welcome to wealth from wisdom with Carson wealth. Carson wealth is a Barron's hall of fame adviser at recognize by Forbes magazine as one of America's top wealth advisors and they're right here in Omaha. This is where you can count on straightforward and objective advice that can help you make the most out of every dollar you've saved for retirement. Welcome to wealth from wisdom with Carson wealth. Time flies.
Speaker 3:
1:15
And you don't even really know it. I can't believe it. But today is a big moment on the wealth from wisdom show for multiple reasons, but one is we are celebrating our hundredth episode today. So I've a very special guest. And by the way, he was on episode number one, the one and only Ron Carson's on the show with me. Thanks a lot. Ball. Yeah. Gotcha.
Speaker 4:
1:36
It seems like yesterday, I mean, I had done radio for 17 years and I really got tired of it. And, uh, when the idea said, hey, let's start a radio show, I was like, oh no, not a radio show. Um, but you know, it's two years has flown by fast. I know you love, you're great at it. You're a natural attic inviting me back to do the other 14 people said no. So I know I'm her face. I'll tell you, you just got to settle for what you can get. Um, but you know, it's a, and think of, I mean, two years go back 17 years even prior to that. And there was a long hiatus there. I think the last episode then was like in 2000. I mean the, there's been more change in the last two years than there was a previous 20 years. Yeah. Think about that
Speaker 3:
2:20
and imagine what it's going to be like two years from now.
Speaker 4:
2:22
Well, think about the next year. Yeah. I mean, you and I were just talking before you actually started the show. Just some stuff I've been seeing, you know, technology that's, that's percolating beneath the surface is can add so much value to people's lives. And I think most business owners don't even realize what's coming. And we get to see a lot of cool stuff here at Carson and um, yeah, the then the next two years, I heck the next 12 months are gonna be probably, you know, equivalent to the last 20 years as far as change goes.
Speaker 3:
2:54
Yeah. And Ron, I think you know what, initially you think about radio, but really what I would share is one of the things we've learned over the last several years of doing wealth from wisdom is it's way more than a show. It's really about content. And it's really about sharing real world implementable ideas. And that's why we podcast. So, I mean, some things that have changed is we're all over the place in the podcast world now. So we're on iTunes, we're on Spotify. I mean, there's so many different avenues that people can get us the world of like, Hey, you were turning it into Kfab or other radio stations. So I'm gonna share this with you.
Speaker 4:
3:30
A matter of fact, most people don't. We're on 90 planets now. 90 [inaudible]. I didn't know there was 90 wow, that's it. They just haven't been discovered. Oh yeah. It's like we talk about the big and the unknown, right? Yeah.
Speaker 3:
3:41
So we, we, we have listeners in 216 different cities, but then I can't even calculate how many different downloads from people all across the country from a podcast perspective. Thousands and thousands and thousands. So on behalf of all of us, thank you, we appreciate it and the feedback we want you to always keep coming with it. So whether you call in, we get a lot of questions to info@carsonwealth.com we respond to every single one of them. Many of you sent questions saying, Hey, I want to talk to Ron or I want to talk to Paul. You get to talk to us. So we will make those things happen. We want to help you and when what we share in wealth from wisdom is is we don't want to be like other podcasts or radio show providers is we tell you the truth. I mean we've got a lot of questions Ron, and we're going to talk about it on today's show about a lot of things that have transpired over the year.
Speaker 3:
4:32
So a lot of you get those headline popups on your device, on your iPhone, on your iPad, which we both have sitting out here with us right now. As we're recording and you see wells Fargo gets fined, Merrill Lynch gets fined. And what people do, they swipe it away. It like it doesn't even phase you anymore. And people just go into ignore that. It's our job to help you decipher what are those most important things that come out of that. Because otherwise you just maneuver on in your life. And I think that's one had been a huge theme on the show, Ron, is as we talk about our favorite f word of fiduciary. And you and I were just in Chicago six weeks ago and I talked about it a couple of weeks on this show. It was amazing to me. You asked, I remember, I remember you asked the founder of Dollar Shave Club, Michael Dubin from the stage, if he knew what a fiduciary was. Yeah, yeah. And what was this
Speaker 4:
5:22
he knew? He knew. He actually knew. I mean, at the same token, you're, I was speaking to how many CEOs on the west coast a couple of weeks prior to that and not one of them knew. Not a single CEO. Yeah. Just, and they ran billions of dollars worth of company. There's no judgment in this. It's just that they're so busy. But that is such a big thing to get to really understand the difference of, you know, what is a fiduciary versus broker. And I tell people all the time, if you want to give someone tremendous value, if you educate them on this one thing, it's going to have a big measurable impact on their financial life.
Speaker 3:
5:55
Yeah. And I, I tell it to people on the show, but just run it, run show 100 so actually gonna
Speaker 4:
5:58
share some of our most used phrases. So I got to thank our marketing team, went back in the archives and shared those with those. So before you get there, can I run through some fun stuff? Yeah, for sure. I want to remind everybody on this fiduciary thing. One more thing. Yeah. Okay. Send your advisor or if their broker an email, all you need to ask them the following question. Are you a fiduciary? But send it in writing. Don't ask them over the phone. Send it in writing. They need to send you a written response. Do that for us. It's funny you bring this up because I had asked someone who's your advisor? So they reached out to, they said, well, we act the same as that a fiduciary. It's like, no, no, you're their fiduciary or you're not. There's no acting. We act the same as a criminal, but we do go to jail.
Speaker 4:
6:37
I mean come here. I want to couple items for you. See how good you are. Oh, how many stake holders did Carson Group have two years ago? So, turtle, internal stakeholders, not employees, not staff. Here we call them internal stakeholders. So I'm going to say two years ago would have been 102 hundred and 17. All right. Today we're, we're between two 15 to two 20. I, the reason I has, I think we have five starting today actually. Um, so two 15 today. Two 15 or two 20 tomorrow. Um, how many, what it was our AUM. What was our assets under management? Uh, I'm gonna say about four and a half billion. Oh my gosh, you're good. Did you see the, I didn't see these answers. Actually I'm for 4.4. All right. 4.4 and um, we are going to, if it doesn't happen today, it will happen tomorrow.
Speaker 4:
7:26
Barring some major, you know, market change, we'll cross the $10 billion mark. Amazing. And they're cool. I mean, yeah, this show happens to coincide literally on the day that we're going to cross. Yeah. And what's interesting though Ron is, is we, we share that with you because size does matter. It does matter in the advice you receive in terms of making sure you have a depth and a team. But what also matters is you have an advisor that, and we have a lot of great ones here at our organization who understand you and they're just as good communicating with you about your investments as they are actually managing your money, your money. There's a great balance that's needed between both of those there. It was fun watching you and I got to present, um, yesterday and we were in a competitive position with Goldman Sachs firm I hadn't heard of.
Speaker 4:
8:10
And at the end of it they said, you guys, we won. They committed right there, which was fun. It's like you were, you were way more prepared and we both knew and I thought we weren't quite sure cause this was the referral that we went in and we thought we were scratching the surface scratching the surface. That was fun. What was interesting? Well the other thing I would add was, so they were interviewing Goldman, and here's the phrase they said, and I'll never forget this, and now forever, if they said Goldman was Goldman, they just acted like they were better. They just presented some stuff, but they really didn't understand us and who we are and what's most important to us. And I, I can't share you enough, and that's part of wealth from wisdom is it doesn't matter how many Zeros you have at the end of your net worth and your bank account. You need to work with a financial advisor who understands you,
Speaker 3:
8:57
but then has the tool box of their team, their people on the resources to help manage your life in a way to one, ensure you're not going to Rhonda money, but to let you live out life the way you want. I mean, Ron, I was giving you the credit for, he came with the phrase, live your life by design, not by default. And that's what some people need to do instead of listening to what everybody else
Speaker 4:
9:19
does all the time. By the way, I'm getting way off topic. I was listening to a podcast this morning from Ray Daleo. He was actually a guest on it and he talks about the three phases of life and uh, it was one of the best. It was so good. Um, I'm just saying if I can literally pull it up for you right now, but it was really, really good about that, that part of it. How do you go to where he said he always viewed life as some jungle he needed to get through and he couldn't wait to break through. And the other side. And now that he's in the jungle, he realizes he's never wants to leave because he's enjoying the process and the journey. I mean it's easy to say, but if you can actually live a life in the moment in the present, and that's what we try to do, you know, take the worry of wealth away so people can focus on the things that are really important to them. Because if you're deep down, you know, once you get beyond a certain level, money isn't gonna buy isn't gonna make you any happier, but it can definitely detract from your happiness. I've had some of my higher net worth clients go, I was a lot happier, had a lot less cause they'd have to spend so much time working on, you know, what am I going to do? What am I going to do with my money?
Speaker 3:
10:25
You absolutely do. You deal with a lot of complexities. You got to deal with new challenges that relate to it. But also, I'm glad you're also playing that now so we can hear that on the radio as well. Good job, Walter. So here's an interesting fact, Ron is, so our marketing team, so those of you that have listened to author wisdom over our first hundred episode, 66% of you are listening to it via an ios device. Ios F core stands for the apple network. So whether you're hearing our podcast on iTunes or Spotify, uh, you know, other locations, we're actually soon going to be on youtube and some other channels. So we're very excited. We now have our own youtube we deal. Yeah. But we're gonna be pushing this content out there as well. So we've been on the Air Ron here, uh, in the cafe B network and across the country.
Speaker 3:
11:11
So over 4,000, 750, two minutes of air time. That's a lot of time to hear yourself. I'm sure. My family's glad they don't want to hear. We've had a lot of fun guests. We've had singularity, we've had them on the show here before. Ron, I know you were excited to go to them. I've had my daughter on the show. We've had Nellie's been on the show, our chief comfort officer, a lot of our great internal stakeholders. He's made a reappearance today. She looked super excited. Sound Asleep in the studio here with us. But I hope all of you is listeners like we want your feedback and advice on what is best and what you want to hear from us. So email is often easy for people. Info at Carson Wealth Dot or phone number (888) 419-8513 we actually have operators standing by including the weekends. And one things I'd say Ron, we've realized and run the show is, is that people want access to us at all the time.
Speaker 3:
12:08
So people are sending US message, we're responding to them morning, noon, night because we want to help get people answers in the time it's most important to you. Something could be seven o'clock at night now and by tomorrow morning it's way gone past your memory and it's slipped off your priority list and you can't let that happen in your life. So if you want help on a specific topic, we do this all the time. It's complimentary. We want to help you out. Well, from wisdom (888) 419-8513 hey, it's our hundredth episode. I'm excited. I got Ron Carson here with me. He was on episode number one and we're going to be back in a moment talking about some of the most important things that a fan effected your financial lives over the last two years.
Speaker 2:
12:49
Do you own an annuity? Inflated fees and commissions could be costing you an arm and a leg. Get straightforward and objective advice from Carson wealth by calling (888) 419-8513 are you caring for an aging parent? Are you concerned about the skyrocketing cost of health care and longterm care or do you have questions about how to best manage an inheritance? We can help call Carson wealth today at (888) 419-8513 and now back to wealth from wisdom with Carson wealth. Hey, do you remember when you kept
Speaker 3:
13:20
talking about something but you never actually did a darn thing about it? That happens to so many people. They say they're going to do something but they don't follow through worse yet. I remember when you asked your spouse or your kid to go do something and they said, oh, oops, I forgot, and it was something that was really important to you then maybe it wasn't important enough to them. Well guess what that happens in your financial life all the time. You say you want to do something and then you don't. So something we said many years ago is we wanted to get back on the radio, so we launched well from wisdom. Today we're celebrating our hundredth show. Again, my cohost today is our founder and CEO. Ron, I'm glad you're on the show with me. Again, thanks for having me Paul. It's fun. It is fun and it's just as we look back, I always say as you learn more from your mistakes in life than you do actually from your successes and I think we talk about all the time and mistakes we see and we've talked about so many of them on the show is mistakes people make with their money.
Speaker 3:
14:18
But one of the biggest mistakes people make is taking advice from people that are generalizing it. Or g is genericizing a word. If it is, I'll just make it. Okay, good. So they're, they're taken advice for people, whether Webster or bury owners or whoever. I'll hold a debate I had with my son the other day. He goes that everything's a word. It's like who says what's word, what isn't? So anything you want it to be awarded as it's all part of the urban dictionary for sure. So one of the things we want to share until they show is what if, what has been some of the biggest themes? And I know a wore you down and I talk about it all the time and our listeners say, Hey, uh, you guys talk about it a lot, but people still don't listen to us was on social security.
Speaker 3:
15:01
I know we've talked about it many, many times on the show, but the reason why we, we share it with you is every single month we have people walk through these doors, call us, do a facetime meeting with us that have made the same, same silly mistake. So it's just, it's been a theme on the show for many years. All I can tell you is this, we're not going to talk about it on a hundred episode. There's a reason why we tell you to meet with a professional. It's simple. It's like if people do it, they get to take care of it to another popular theme. And actually we can track all this information. So let's talk about data in a moment. Yeah. But our most downloaded episode was actually earlier this year called five critical RMD mistakes you can't afford to make. Interesting to me, you know, like that's the most,
Speaker 4:
15:46
I would have never guessed that ever. RMD required minimum distribution.
Speaker 3:
15:51
I think I know why Ron, it was great content, but [inaudible] you weren't on the show. There was another reason why. But I would say so. People hate paying taxes. So we gave five great ideas on how to help them pay less taxes. So people were interested because why taxes is a pain. People tend to spend more time on pain and resolving pain than they do. Thinking about all of those others,
Speaker 4:
16:18
do you really think people hate paying taxes? Because I know it's why over the highlight of my year is when I send all that money off to the IRS. I just think about all the good it's going to do the roads it's going to build and the people that's going to help.
Speaker 3:
16:30
Yeah, I think, I think you're right. I think that's how everyone else thinks, right? I'm actually, yeah, I know you're being kidding.
Speaker 4:
16:36
So I do believe, by the way, you know, in, in government, um, and I understand the tax thing, but an old saying that I love is a Roy Rogers said, thank God we don't get all the government we pay for.
Speaker 3:
16:48
Yeah, for sure. So actually let's think about the history of the show. So when we launched the show was right when, uh, our current president Trump was inaugurated in his first year in charge. We had Brexit was going on, still going on how, uh, several years later immigration was happening. Hey, we're both football fans. Uh, my team, the jets hasn't done quite as well as your team, the Broncos. Uh, but that was the year New England patriots, if you remember, came back with that easy in the back.
Speaker 4:
17:16
I was with a bunch of partners, so we were trying to hire Scott Conroy at the time and he was, we had talked to him that day of the game and he's a huge patriots fan. Traveled from San Diego to San Diego to Boston to spend it with his family. And we're in Dallas with all of our partners. I don't know if you were there or not, but we were watching the game and we're feeling bad for Roy and I was like, oh my gosh, this is awful. And the, that comeback, I mean, who would have ever thought that come back? That was, that was fun to watch. It's
Speaker 3:
17:44
pretty amazing. While at the same time in the NFL, if you remember all the controversy was happening with the, uh, anthem, the, the national anthem and the protest and the people kneeling and all the things that went along with that. Ah, there's also tragedies that happened back in 2017 that terrible shooting in Las Vegas. And I mean, those things, they just make me sick to my stomach
Speaker 4:
18:02
buddy. Um, who's become a friend of mine over the last 18 months. She was actually hit in the arm from that. Yeah. Wow. Yep. And her friend, um, was, was not fatally injured but also shot. I mean, so
Speaker 3:
18:16
I'm curious like how is that, obviously it's a near death experience. It's a traumatic experience. Like how's that changed her life? I mean is,
Speaker 4:
18:24
I never really got, we never got, never got into that. It was almost in passing like, oh by the way, I was there cause we were bringing up behind you. Someone was mentioning the anniversary of it and um, I've, I should've probably asked,
Speaker 3:
18:38
well, well here, here's why I ask Ron is, is um, sometimes it takes something challenging or that's obviously it's a very traumatic situation with the shooting and things go on with, there are, it takes a death in someone's family to inspire action. Now I bring this up cause another theme we've had here on the show is simple blocking and tackling for your family. People get so darn, you know, I hate the B word, a busy, you know, I hate that word, but people let their lives be consumed with what's important to other people or a very simple phrase. We've used so much,
Speaker 4:
19:13
people let their lives become prioritized by other people and other things, right? Yeah.
Speaker 3:
19:16
Keeping up with the Joneses, right? All that crap. That doesn't matter. When you ask everybody what's most important to them, the number one answer is always family, right? It always is. Yet, one of the most important ways you can protect your family is by having a plan in place, a financial plan. But even something as simple as Ron, it still baffles me to this day. Uh, I don't know have the exact stat, so I'm gonna do a guesstimate here. I would, I would tell you, uh, one out of six people that come in our doors or ask us questions, don't even have a simple will in place. Wow. Yeah. And then I would say over 50% hasn't been updated in the last five years plus. And so it's amazing to me like if it's really what's most important in your family when you spend the most amount of time making sure those things are protected.
Speaker 4:
20:07
And I don't think people, I mean, I know I felt fell in this category early on. I got all my estate planning and we keep it up to date, but you'd really never think anything's going to happen. And you have an unlimited amount of time. Unfortunately, you'll Carson group, I think we serve close to 28,000 families across the country. We get to see a lot of stuff happen every week. And a lot of times it's not from, from what you're going to expect. So bad things happen. Um, and you want to prepare for the worst hope for the best.
Speaker 3:
20:32
Yeah. So I would think about like how you feel like we all have, we all enjoy having passion things. So for you, you have a property north of here, you love going there and lighten a fire and doing this. I can see the smile on your face when I just said it there. You know, I like to go golfing. I like to be with family, like all those things you enjoy. So like the, the feeling of like, oh I need to update my will or get a trust set up is like, oh that is, I'm gonna call it pain. But you just don't want to do it. I will actually tell you that the feeling you get when you're done is probably almost as equivalent as you going up to your place and hour north of here lighting a fire because you feel so good that it's done
Speaker 4:
21:07
overwhelm. One of the big changes over the next two years and even less than that, you and I were talking about it, is artificial intelligence. And as it relates to that, we're going to be able to give our clients the ability that we'll be looking at all their stuff all the time and say plan would be one of them. Hey your estate plans outdated or this assets isn't titled Properly or there is a tax law change that you need to change it. Just imagine a world where all of that is being looked at 365 days a year, 24 hours a day. And the peace of mind, not just we're talking tax, asset location services, estate planning, artificial intelligence and technology is going to allow an amazing, robust experience for those companies that actually, and we have made those big investments in data warehouses, we now have a data lake.
Speaker 4:
21:54
Um, and this is a different way of approach a lake where we actually are able to import a lot of consumer data that aren't our own clients and match it against that. Um, but the, the world as it relates to being able to give people, making the complex simple, looking at a dashboard under saying what we have, what's going on, but alerts popping up to say, wow, there's something, someone's looking at all this stuff all the time. And I think that's where it falls down in wealth management is everybody gets busy and there's not the great coordination and it's really up to the client to do that so often. And Estate Planning is one great example. Another is kids going off to college. I mean, hey, you know, you need a medical power of attorney. Did anybody think to actually proactively have that done? And this is where the, the world is going to change to where consumers, if you're not, and I don't care if it's financial services or anything, if you're not able to show value beyond a doubt for the investment that someone is having to make an a service, then those services and companies are going to go away.
Speaker 4:
22:51
If you're not moving as fast as the outside world, you're going to go away. And I'll relate that to technological advancement. Or if you're tethered to old legacy systems, you're going to go away.
Speaker 3:
23:00
Yeah. Well, I mean I think for a lot of people is, hey, people don't like change, but change can be very beneficial. Look at, I've shared on the show recently, Ron is, you know, I have new 16 year olds and so when I was talking about getting in a car, do you want to know what the most important thing was for me in the car? Safety? Safety, yes. But in terms of technological advancement, was it the right answer? No, it was, it was. But in terms of, let me go through the bells and whistles. The car, the number one thing, because it's safety, was a rear view camera. Like the technological advancements that come along with, I can't imagine now buying a car that doesn't have it because it helps you in so many ways. Think of parking lots and all of these plans. Hey, I've
Speaker 4:
23:39
got an old farm truck that does and I round right into something because you just expect to be warned before you hit it. And you'd also be careful driving something that doesn't slow down. Yeah,
Speaker 3:
23:48
yeah, in there. But, but it's, it's, you're right, there's so many ways that people need to adapt. And I look at when I give you an example is if you log into your credit card account, so American Express or visa is they're taking all that data and they're going to be wowing you and the not so distant future. Even now on what's happening. And one thing that we've talked about here on wealth management is we're going to be doing the same things for you. I mean, there's probably firms out there today that are getting close. I know we're getting close this data lake, this data warehouse. But imagine you log in and were immediately able to tell you, hey, you're paying too much for your homeowners insurance or you're paying too much to Verizon or hey, you know what? And here's you actually you can switch to through docusign.
Speaker 3:
24:30
I didn't automatically happen. Or you know what? You could save a little bit more and you should save a little more. Here's an easy way for you to do it. And the beauty of that is, is we're showing you what it looks like versus telling you and then you can make the decision on what's most important for you. I mean, there's, there's so much change happening and if you're having change going on with your advisor or your wealth manager or your broker, um, then if you want to ask us a question, you can. So let me give you our number again on wealth from wisdom. It's (888) 419-8513 that's (888) 419-8513. You can also email us@infoatcarsonwealth.com easy and accessible. Hey, you're listening to wealth from wisdom. Well back for a moment, celebrating our hundred
Speaker 2:
25:14
[inaudible] episode. Any major decision in life is worth getting a second opinion at financial planning is no exception. Let's talk about how you could make your money go further in retirement than you ever thought possible. Call Carson wealth. Just schedule your free initial analysis now at eight eight, eight four one nine 85, 13. Do you have a lot of assets but are short on cash? Learn how you could leverage your assets to free up cash with Carson wealth by calling eight, eight, eight, four 0009008513 and now back to wealth from wisdom with Carson wealth.
Speaker 3:
25:47
Hey, welcome back to wealth of wisdom. I'll Paul last so fortunate to have my cohost today, Ron Carson, founder and CEO of Carson Group celebrating our 100th episode around. So we're gonna talk about a lot that's transpired and changed. Um, so one, we started out as a radio show and then we quickly moved into sharing our content because we had so much feedback via podcast and I listened to a lot of podcasts. I know you listen, a lot of podcasts. I mean, I'm just curious like why do you listen to podcasts?
Speaker 4:
26:13
I love podcasts by the way, and I was just, we were talking about living your life by design, not by default this morning as I was working out, as we're listening to 'em, it's on purpose. I just recently started this podcast and it's on how to define success for yourself and set your goals. Another one of my favorite podcasts besides wealth from wisdom is, uh, Joe Rogan. I Dunno, you know, he's got some just I just thought provoking. There's just so much information out there. There's so much Joe tapping at the UFC guy. Yeah. I actually, this morning, uh, another one on the brain, ted talks or a favorite, you know, so there's just a, I call sometimes we just mindlessly listened to things like music and I like music, but without purpose, right. Sometimes I'll, I want to listen to music cause I want to be motivated.
Speaker 4:
26:59
I want to be put in a different mood but getting rid of the bubblegum for the brain and then really inserting just a lot of interesting things out there. By the way, Paul, when you asked me to do this show, we were flying back last night. I was like, Huh, what did happen over the last two years? They'll, stakeholders went up, not quite doubled. Uh, we just committed to building a 200,000 square foot, you know, to how's our, our growth for the next decade. That was a big, big deal. Yeah. Over the last two years. And, uh, and I, I think what we wanted to show people is, is this is an organization that's been invested in for the long run. We invest in our internal stakeholders first two, we're going to have daycare. We're going to have, um, fitness center with trainers. We're gonna have Dunkin donuts, coffee, whatever you want, whatever Paul wants.
Speaker 4:
27:45
I mean, it's, but it, but the point is that we want to, I guess I think about it to take care of my internal stakeholders first, then external, take care of our family. They'll take care of the people that need us. And then profits are third. And I think that's a responsible way to run the business. And this is a big deal for us to go out and say, we want to really, really provide an amazing environment for, for people to be part of our movement. And it is a movement. This is a consumer movement. There's, you know, we're going to make history in Omaha, um, and well, it's gonna start in Omaha. It's gonna go around the rest of the country. And so anybody out listening to this, I, Hey, I really want to commit my career to something that's far more than just a job, know, take a look.
Speaker 4:
28:25
We're always, we're always hiring here at Carson group, but I went back the last two years. My grandson was born. Yeah, Carson's 14 months old. Um, Carson, Carson, Carson, Carson, Carson morale. We are recognized as icons and innovators. Carson was. So we've gotten, um, an award on that. Terry Shepherd, our CEO, uh, women to watch and financial services, app, Siegel, the board shapes our executive VP. Aaron Chabon just got 40, under 40, um, in our profession and also locally with the Midlands Business Journal last year. Best places to work. Carson, both in Fintech and wealth management. I don't think that's ever happened. I've never seen, uh, to my knowledge it's not happened where wealth management firm got both inc 5,000 last two years. I think this, I think we'll make it again a third year. Um, uh, so a lot of you got your CFP. Yeah, that time period. Uh, it's just a lot of cool things and, and the brain power.
Speaker 4:
29:24
The other thing. We just had someone join us from Chicago last week and it was cool cause he could go anywhere and anywhere in the country and he's relocating to Oman. He goes, I looked at every place I wanted to go and he had these four quadrants and he goes, this is where I want to be. And it wasn't even an economic move because he was making about what we're going to pay him, but he wanted to disrupt his life. His family come to Omaha, be a part of this. That's cool. So we're attracting some really great thought leadership,
Speaker 3:
29:52
which is great for obviously we're very happy for our organization. That's great for the city Omaha, we're getting people to move here. They're buying homes, they're spending money, and they're also sharing the story, but they're doing it to help the movement. One of the couple other things, I know our ads talk about these as well, or our lead ins, but again, a Forbes continually ranked, so like Zach, Richie got listed as the next gen advisor. We've been ranked on top lists for Barron's.
Speaker 4:
30:16
We have three. We're in Forbes three times a month. That wasn't the case at all two years ago.
Speaker 3:
30:21
Yeah. Uh, you and I personally have both on continuously on a Barron's top 100 advisors, number one ranked in Nebraska. So we have all of those again are accolades, but I will tell you is, and I hope you hear this in our voices and if you get to meet us in person or even on the phone, do you know we're just as genuine as we are here on the show. We just have a desire and care to do what's better in this world and what's better for our clients and what's better for our employees. What we mean stakeholders here in organization is, is we all want to make this world a better place and we want to help out. And that's why we do the show. I mean, and why we want to share wealth from wisdom is is there's so much noise thrown at all of you listeners more than ever before.
Speaker 3:
31:03
Like right now you have competing interests. If you're listening to radio show, you're in your car, you're driving somewhere and you're doing something. But you're, you're taking these seven, 10 20 minutes, whatever, you're listening and you're getting sound bites and we're hoping these sound bites help you inspire to do something better for yourself. And a lot of times is just personally, it's better financially for your family or your will or your trust or all those things looking at, but you have to be educated because we look at all these things happen, right? I mean, I was, I was prepping for today's show. I mean, the quantity of fines that have happened in our financial services profession, I think I call it, they leave a black eye even on you and I, even though we're not part of it, but people, I'm going to use my genericize word that, hey, if you're in the financial profession, you're just like everybody else at wells Fargo and Merrill Lynch and Goldman and all these groups that have been fined, that's not what we are. We're the opposite of that. And that's why we do the show is because we want to help educate consumers on what's best for you. And we want you to make those right decisions on how you impact your life.
Speaker 4:
32:05
You know what, Paul, one of the most fulfilling things for me personally is, I mean at, at Carson, we're solving first world problems. I mean, the reality is that we're helping people live a better life that already living a pretty good life. But here's what I love is most of the people we deal with, especially they've been blessed to have done really well financially, they're giving back aggressively to their communities, to society and helping solve some of the third world problems that are out there. Um, I just, we just finalize for our big, we have a big meeting every year. We bring lots of people together. We were in Chicago this year. We had 1200 and almost 1300 attendees. We'll have 2,500 in Vegas, Scott Harrison, charity water. But you want to, you know, go, go look this up. Charity water's a video. Um, that will just, it will move you.
Speaker 4:
32:55
But how we take for granted, we have clean water. 9 million people died last year of starvation. I grew up on a farm, a billion people go hungry every night. And to the degree Carson, you know, my personal mission commitment is to leave this world a better place. And I found it and I've committed to a utilitarian life. I want to do the largest amount of good for the greatest number of people. So the big Y, you know, with Carson, as those resources are going back into society and I want to, I want to make a dent in clean water and I want to make a dent in feeding people. Uh, not that I don't want to help all the people who are helping. I do. But that's a means to really help a lot of others raise their, you know, their standard of living.
Speaker 3:
33:40
Yeah. And I think that's a testament, you know, certainly to you Ron, but at many people around the world have figured out like, Hey, if we do get money and there's so many studies saying over a certain level of wealth, there's no incremental increase in your happiness, you actually get more happiness in giving it and sharing it with people. And you and I have talked about this several.
Speaker 4:
33:59
By the way, this came from this morning on Dalio. What do you think leads people to the most happiness and it's not money. There's one thing that that off the charts that gave people the greatest amount of happiness, it's power. Money. It's not money. No being part of a community. Yeah. Teamwork, right? Yeah. And I go and I buy. It's like wow. People go, Ron, when are you going to retire? As I, I don't work cause I love sincerely love what I'm, I can't imagine a life where I'm not with the people that I'm with. I mean yesterday you and I are together most of the day. It was a phenomenal day. Not because of the business success, because spending time with you and I look at the people I love spending time with here.
Speaker 3:
34:43
Yeah. It's, well, I mean think about anything in life when you're going to dinner or let's go, let's, let's go for example, one of our colleagues, Pete Mellon's getting married and like you go to the wedding, what do you think about, who am I going to sit with? Am I going to have fun? Seriously? Like cause your acumen is like, yeah, I'll go back to the kindergarten days about kickball. Like who am I gonna play kickball with and who want to do this? Y W W we're creatures of wanting communal comfort. I mean that, that's really what we are. And so then I look at what actually we've created here at Carson is all of your information is personalized and it's all protected and it's all private. But I'd much rather know, I'm working with an organization that thinks from a communal mind spent mine spend. And that's why we, again, like the building being built locally here in Omaha, the building, helping think about what can we do for the community. Like we're gonna host charitable events there.
Speaker 4:
35:28
Well you and I, what plug are you and I are Karen Crow, the Crohn's and Colitis, a fundraiser coming up this fall. Is that November 1st I think or second. Yeah.
Speaker 3:
35:37
Right there. I mean we've got the dream
Speaker 2:
35:38
weaver event coming on, but hey, if you've got questions for Ron and I, we'd love to take them. (888) 419-8513 that's eight, eight eight four one nine 85 13. So you're listening to well for wisdom and we're going to be back in just a moment. Have you ever wondered how do other people get away with paying fewer taxes than everyone else? Learn how you could save thousands of dollars in taxes by calling Carson wealth at eight eight, eight four one nine 85, 13. Social Security risk, taxes and healthcare. This is where you can count on straightforward and objective advice on the biggest challenges with investing for retirement. And now back to wealth from wisdom with Carson wealth. Hey, welcome back.
Speaker 3:
36:18
Wisdom. I'm Paul West, joined today by the one and only Ron Carson. Ron Spent a lot of fun with you here on the show. We're reminiscing today. Uh, sometimes you get to learn from the past, but prepare for the future. And so this is our hundredth episode of wealth for wisdom. We hope you've enjoyed it. We're going to continue on. One of the things we want to share with you is what are some of the best ideas or phrases we've had? We've had a lot of good guests, but we talk about true wealth all the time, Ron. So can you tell people what true wealth is? I mean, you phrase it so,
Speaker 4:
36:49
yeah, all the way have that money. Can't buy and death can't take away. Just going back to experiences, people, relationships. I love, one of my favorite books was Tuesdays with Morrie, and there's a quote in the book, I gave it to all my YPO over others, um, years ago. And they still say, hey, it sits on my desk. Life. Death into life, but not a relationship. Yeah, right. That's well sourful yeah.
Speaker 3:
37:13
Well we always talk about what do you want people to read at your eulogy and how sincere do you want it to be? And that's a great way to approach it. So there's other great phrases. We've had some cohosts on the show many times I get Scott QB or, and would, and others. I loved I, one of these I wrote down was Aaron Wood did a great job of saying, don't confuse your Google search with my CFP. What do we mean by that? Somebody, people, I didn't understand it. When you guys think about it, what happens in the medical profession? So you're a doctor, people self diagnose. What do they do? They go to web MD, right? Or all these other places and all of a sudden you self diagnose yourself. So what happened
Speaker 4:
37:49
by the way, never do that because whatever you have, whatever you read, you're going to go, I got that.
Speaker 3:
37:53
Yeah, for sure. The same thing happens in the financial world is people research. Hey, should I buy more stocks or should I buy less or should I do this or should I do that? Well, there's a reason why we're trained to CFPs. You're one Ron. I'm one a certified financial planner. By the way, if you, if your advisor asks you earlier, ask them if their fiduciary also asked them if they're a CFP or at minimum their team of people who directly work on your relationship. Yeah, our CPA as well. Are All people who can actually help you make the right decisions. Another question we love to ask on the show is, do you think you're ready to retire? A lot of times people do financially, but are you ready emotionally? And something you said in a prior segment, the reason why we asked that question all the time Ron, is so what are you going to do when you're retired and how are you gonna be able to handle that? And if you're used to always being around people and all of a sudden you're not, you better arm yourself with hobbies and opportunities. Boards part time work, volunteer work. That's just one of the,
Speaker 4:
38:54
that's why people die, Paul, right? Because they don't, they don't find, they have no more purpose than, by the way, I hate, I wish we could even get rid of the term retirement and replace it with financially secure because the idea that we're going to do something we don't like our whole lives so we can spend a little bit at a time doing what we love. It's crazy. And that's why anybody listening to this, I, we developed a thing called the blueprinting process. Live your life by design, not by default. If you're interested, we more than happy to give you a copy of this. There's a companion book that, uh, I wrote along with Steve Sanduski few years ago called avalanche. Um, and it is all about that, you know, not, not getting to some point where there's a beginning and an end, but let's start the beginning today and it have, have it just be a continuation of a great journey that you're gonna be on.
Speaker 3:
39:44
Yeah. So some things that have happened since the show, Ron, we've talked about, uh, what happened, twins on and 17, 2018, of course, the Democrats won back the house. Uh, Meghan Markle became part of the British royal family. Uh, Facebook really started to go through it's first data scandals and you know, that's becoming a new, uh, world challenge for those companies. Uh, Jeff Bezos and Amazon continued to grow like crazy. Uh, he also became the world's richest man. Uh, yeah,
Speaker 4:
40:10
just made the third richest woman by getting divorced. Yeah,
Speaker 3:
40:13
he did. Um, but it just tells you the growth, what happens there. Uh, you know, air travel is gonna Change. So I mean, you and I even recently, uh, we're talking about this flying car. Yeah,
Speaker 4:
40:26
I did. I ordered a flying car should be here this year. So if you see me buzzing down Dodge Street, about 90 feet above in the air, that'll
Speaker 3:
40:33
you're all waiting in traffic. Yep. Yeah. So this third dimension, I mean, who knows what's gonna Happen Next, even in 20, 20 and beyond. But here's what I'll say about even in the financial world, I want an advisor who's thinking about those things. They're not living in the past and not living in the past by the way of past performance, but they're thinking about the future. We can learn and get smart from things in the past, but we can't the future. Ron, you and I were just in a competitive situation very recently here, and, uh, somebody who sold their business and came into some money. But again, let's not worry about what the dollars and cents are. Let's say you get an inheritance from your family. And this thing gets passed along to you that you'll ask an advisor, well, how should I invest the money here is now the time and a lot of advisors operate under, oh well let's dollar cost average in this over three months, six months or this period of time because I don't know what's going to happen in the market and Ron, you earlier this week, you and I were in this meeting together.
Speaker 3:
41:32
We both have the same feeling. This is when, you know what that tells us. They really don't know what they're doing. They have no confidence in their plan. No, they don't have conviction. So while you may think, oh, whether they are being safe, the reality is is if you have the right plan in place and you have enough money in, we'll call it your buckets, your income bucket, what's in the short term for the next year of of the years to keep putting money into your grocery store account. And then lastly, what's growing correctly for you. If you're allocated correctly, then that's not an issue for you. But if you're not, or your advisor doesn't have confidence in the process, of course they're going to hedge their bet in easing in over six or 12 months isn't going to change it. No, it's just gonna. It's just going to soften if there, if the plan doesn't work, it's like, why still have some money?
Speaker 3:
42:17
I haven't put into the plan yet. You know what? All they're trying to do is they're trying to buy themselves time because they don't have conviction in their process. So therefore they're trying to say, well, hey, if the market goes up or down, they're not going to hold me accountable because I'm dollar cost averaging. All of that stuff. Then a couple other traits, by the way, Paul, and you're great at this, um, is don't defend what you know, but embrace the unknown. Break out of this prison of conventional thinking and wisdom. That's more important today. The older I get, the more I know. I don't know. Yeah, I agree. And that a great trait and I, I love it and I say it all the time. I love to be in the room of people where I look around. I'm like, holy cow, there are a lot smarter than I am then I know I'm in the right room.
Speaker 3:
42:56
You and I both done a great job that here in cars we have about as low as you can get. We, well we're, we're close. We're sharing. The bottom of the totem pole is, it's, it's, I feel like if I'm in a situation where I'm teaching and educating everyone, then we're at a problem because I need to make sure that I'm surrounding myself with people and I'm spending enough time reeducating on something you said earlier and I got my CFP and somebody said, Paul, you're 20 years in the business. Why did you get a CFP? Cause I said I'm not going to be relevant in three years because if I don't have that level of knowledge, I don't know how I can truly do what's in the best interest of my clients. So what also am I doing? We just talked about the community effect, how it's even more important to be part of a community than anything else.
Speaker 3:
43:41
Ron, you talked about your utilitarian approach. So I'm actually taking a program here this year called the CIP program to become a chartered advisor in philanthropy because I even want to teach people more. I understand technically how to help people give their money, but I want to help them with the why part of this and help make them better. Good. And I'm reinvesting back in myself, but it's really because I want to help other people because there's so many cool things we can do in this world, but we can't let time race by. So if you have questions for us, please ask. I mean, we're always getting back. We want to help kind of special guests, as you know, as Ron Carson today are number (888) 419-8513 and me yourself. Oh man, they still take phone calls. We do. Actually. You know why? There's something that feels good about talking to people. And going back to what you just said, Ron, about community. So actually most people call us over sending emails and texts in those other things. Why? They want to hear the conviction in Paul's voice or they want to hear, oh, that's not a good idea. Tone and emotion can
Speaker 4:
44:45
go a long way. Paul, I would ask anybody out there. Let us give you a second opinion. We'd love you to look at everything and say, Gosh, there's nothing we would do any different. And if you're really confident, then your plan should withstand a second opinion. If not, don't you want to know where there's holes or places you could do better?
Speaker 3:
45:00
Yeah, don't avoid what you don't want, what you really want to know, but you're just fearful and running away from it. Hey Ron, this has been a lot of fun. Congrats to the entire Carson group. Um, thank you to our marketing team and everybody that helps us put the show together. Producers, Jamie today and all of you for making wealth and wisdom. Great. We've enjoyed our hundred show and appreciate your partnership. Round ball
Speaker 2:
45:20
risks, social security, income taxes, estate planning. Every week we talk about how to make your money go further in retirement right here on wealth from wisdom with Baron's hall of Fame Advisor. Ron Carson,
Speaker 1:
45:33
okay. And here's the legal Mumbo jumbo. The opinions voiced in wealth from wisdom with Ron Carson for general information only and are not intended to provide specific advice or recommendations for any individual to determine what is appropriate for you. Consult a qualified professional. All indices are unmanaged. I may not be invested into directly. Investing involves risk, including possible loss of principle. No strategy assures success or protects from loss. Past performance is no guarantee of future results. Advisory Services offered through m LLC and SEC registered investment advisor.