Jan 29, 2017|
Just Don't Lose the Money is devoted entirely to the financial needs and challenges of retirees and those nearing retirement.
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The information on this program is not intended to provide legal accounting tax or investment advice Richard Rubino and Sam Langer principles of freebie you know lying LLC and LLC with a mass broker's license 1783398. Either Sam rich nor repeat or lying are registered as investment advisors and do not give investment advice this shows a service of Rubino a line. This is good just don't lose the money radio show with your host attorney Richard Rubino and Sam lag. For over twenty years rich and Sam have been broadcasting to the Boston area. Explaining how you can protect your life safe. Richard sands highly regarded and sought after guidance has been. Featured on Fox Business news and fortune and money magazines now. Your post that you just don't lose the money guys from Richard Rubino and sales lag. Hello everyone welcome to just don't lose money radio on sale of land and I'm Richard will be you know glad to be with everybody today it's a last Sunday January man he's gone on even. Sane and time for heights. I know why am fumbling Augusto fruitless in the right Daytona Texas. I haven't made any mistakes to my surprise but. I can't believe it's the end of January. It seems like the holidays were like a long time ago standards. Either hallowed Christmas closed life. I don't know I am actually what I'm actually back in my pants Massoud actually feels normal soap into the tournament that Longo about it. And how the you know the yemen's south is still coming up for us. And I hope all listeners of the limo they were organize a kids that we've been given away you know we've been sending out a bunch of them I know that I know for a ship. I think the third we just last week we you know we depend more but yes. The organizer can was sort of talk about that this week is a great week he used to store sort of start the year off right in on the show. We're gonna talk really more about just simply how to get organized. For what you know in for what you don't know. So stay right here we're gonna talk a little bit more about that we're talking about the organized acute. Very quickly we've assembled a twelve page. Booklet slash kids panel call whatever you want but truly one place where it at two simply part picking up the phone was summoned out to you. And you can users organize your kids to get all of your very personal. Important financial slash league go slash insurance. Information on 1 central place. Which should not only be great for you commission on organized but also be Griffey came we ears right that's right Sam that's why we do it works well we disagree Tommy you know duke was also statements are coming in now within the next. Last month this month even February the direct command and Obey American you know make a lot easier for you to follow our tools rule number one just don't lose the money and we're number two don't forget Romo more so please get our free giveaway which is the organizer kid. You can call this number 877. 630. 8787. That number against 877630. 8787. Or go on our website just don't lose them money. Dot com and download your own organizer can. I was take our first question Molly and Chris writes in the rich and Sam I followed your lead and started to get organized. Almost all of our accounts are listed on the organized secure. Now is the hard part how can I tell them everything's working together. So that when we hoped to retire in seven years that we will be all set. The doubles always in the DT. You know that's a great question you know putting things down on paper in and seeing how they actually affect you two different things you know I was interest again when they read this question. A thinking about does Scarnecchia or you know the line coach. But the patriots. That he's back this year they took about a retirement at a pretty out jogging did a pretty good job but his. The line to line coach is like everybody's organized everybody has to work together. And their job is only one job main job this protect Brady guessing the offensive line their only job is to make sure that big old palm doesn't get hurt that's right. So you know getting organized and knowing what to do with two different things so it's it's like he's organized but just like you you've got organized now what do you do now are doing us great analogy you ration or so it's part one what's what a ballpark to ballpark Cho was really making sure that like these people. Hit the double is in the details. Hoping to retire in seven years are we gonna be all sat. Well that's a tough question to answer I mean I really do we really don't know the details. But at the end of the day I think when you say you all set here's a pack comes down to. How much money do you need a month. In do you have enough money to produce the income that you need every month and is there any people and is there anything on your organizing kid that does that. But all this yellow stuff for me it's you look at all the stuff they have they say is there any thing that's designed to deliver. To meet with certainty. Money that's gonna last the rest of my life you know one of the things we talk a lot of vote in person and on the radio in meetings and in our conference room also an hour. Retirement survival workshops. Is how do you create your own pension and that's really where it comes down to desire tie we meet a lot of people you can imagine. Being on the radio for over twenty years you get through phone calls here and here so I'd say more often than not we meet people. That go into retirement. They're not quite sure to have enough what they just hope to have an oft is what they have as what they have they go to retirement account or keep their fingers fingers crossed in the situation on. I'm not gonna work anymore this is what I saved. And I hope it's gonna last me for the rest of my life and nowhere to take money out. Don't know what rate they should taken out they don't really know where to put it in god forbid the market goes down then there really yeah. In truck and there's a lot of you don't and always have a lot of. It's a few different things to consider in terms of how to get incumbent I think the best place to start. Which great mauling Chris she brought organized that's the great that's the first places are nowhere everything years. Put it mourn central location and the second thing would be hey you need to anticipate how much money you need every month. I was sitting with my sister. My sister and husband and you know they are 67. They've been actually retired about ten years in my off so travel in the world. But they took a different post retirement they just. Number I always say they're extravagant that's so mean not that comfortable and maybe on certain days but. In many days you just get by and they have a very its limited pool of money to work from. And they know literally down to the penny has that forced to. How much money they need every month. That is a really important question Pete needs for yourself if you need say 4000 dollars a month. To pay the bills stood you know go to dinner once in awhile to a may be you know go shopping once in awhile to have some fun and enjoy retirement the real question as. Where's the money gonna come from every month that equals 4000 dollars. Mine if you wanna do the same thing every month that if you have a counsel your accounts that go up and down each year. Then it's really hard to pull out the same amount of money each month you get scared to me maybe he is a little village but he gets scared that eventually. You gonna run out of money you know Sam one things that we notice is that you know we when we do our workshops. There's people. Anybody here nor anybody old besides us everybody laughs and they always have and they racing history and their radios Susan Susan one exit mother. Turned a 102. In February your mother tell Sam. My mom is going to be 95 march 6 time besides you know month and a half from now my mom passed the way issues 99 people are living longer and there's one thing. In retirement that is certain for everyone you need money to the day you die here you know. Need money for the next forty years you need for as long as you're alive so they you know word as to who we guard throughout the show what talk about options but I think. One of the things that you really need to hone in on is no more doing nowhere everything is. We had a radio listener call in the other day and said no thanks cinemedia organized a kid or Palmer stuff. Which prompted me to look at my my statement so more closely. And whenever accounts it was a brokerage account. She situation not something isn't right because I'm about 250000. Austin's account. In front page it showed although all the indexes did for last year the S&P was up like ten or 11%. The NASDAQ was up there's the Dow was up that and then I looked in my own personal performance and I actually lost eighteen. I was down like 67% so where warship and so what happened so you know about those things really prompt you think about hey you are you on the right track or not. And you know this organize a kid again and each armed drones trying to beat him. Feet a dead horse here but the organize a kid is though the roof and the base in the foundation when you should judge you should consider starting with so. Let us give you a head start. The Rubino one weighing organizer kid we like pushed send that do you share that with you please call this number 877. 630. 8787. That number against 8776308787. On the web site at just don't lose the money. Dot com. You can get you organized get on line and the YE on the web site. No sort of just have some fun play around a little bit there's a lot of re. Information. Educational. Tutorial videos. That you can watch in fact ran up front page is a is a video that's entitled are you ready for retirement click on check it out. Just don't lose the money. Dot com next if you're worried about what might happen over the next four years. You should talk and take these following steps. Hike somebody office manager for Richard Rubino and Sam lane to schedule an appointment with virgin Sam call me now. 8776308787. That's 877. 63087887. Welcome back. To just don't lose the money with Sam playing an attorney Richard remain out for the last two decades salmon rich have been helping people just like you protect their life's work. By following two simple rules. Now country music superstar Martina McBride with the. Rule number one. Don't lose some money. And Mohammad so don't forget number one. Just don't lose the money on the Sam line I'm Richard Rubino here this wonderful Sunday and hopefully hopefully you are having. Wonderful Sunday before we sort of get on with the show reader question rich and I want to say. I I don't think it's too late but we like to still say happy new year everybody. And we have lots of great folks have been listening to us for many many years because when we conduct our workshops we. Say you know only people listen to us on the radio and almost everybody raise your hands so there's a fear yacht they'll listen I guess. And who wants is simply say thank you you know for over twenty years richer are. They're really dedicated and helping people. Protect themselves during retirement. We each and every day when wake up we follow these tools rule number one just don't lose the money and rule number two don't forget rule number one so we disorders and we say. Thank you. You know it's amazing sin let our structure that we started with and still really important today our structure is different than other. Firms we have both the legal side. And the financial side and we talk about just don't lose the money you really need both those sides when you're on the homestretch drive home stretches like. From sixty years old to the end got a great guy had a great way to sort of break it down the other day you. And I'll work Sharpton says you know the first thirty years which is like when you're living here William you know I'm going to school and getting educated trying to figure out where you are. The next thirty years. You you're you're grinding it so you're raising fear and we paying off your mortgage. You know I'm 32 C sixty that's your peak earning years and then the last third of your last thirty years it's like all of a sudden yet to start spending your money. Yet to deal with health insurance issues you look around some new friends are getting six and your friends are dying. You have children you might have grandchildren you wanna leave a legacy any of the film last thirty years and that's really the peace that we deal with those legally and financially and. And you said you know when people say just don't lose the money on act we of course think about money but what you said original on the legal component it's also about how you protect your house in the nursing home. May be governed state you wanna give to children and grandchildren. But you might have an estate tax problem how do you protect yourself from that so. That's why you here and again simply. Wanna say thank you for tuning in we have a website you can check out it's just don't lose the money dot com. We have a great giveaway today is he organized a kid who would be normal Lang organize a kids. Where you can get free of charge to send out you would even pay for shipping. And it's a place for you to put all of your personal. Very important financial information on 1 central place so it's good fingertips you can get that by calling 877630. 8787. But let's take our next question. Georgia mop the right Cynthia rich and Sam is that George Washington Martha Washington that it reminds me out. It could happen to Washington Joseph Joseph Romeo and your brains wondering libraries and that's ordinary historically and get a lesson that it's possible about George in my garage but I doubt it but I know from the dead campaign they're rich in San. We are both really scared about the next four years. Some say it's going to be great for business and retirement accounts will still be great others say that the boom market is ready to fall. We are old fashioned. And we think there are only two places to keep our money we want everything safe so we have a lot of money in the bank account and then we also know that in this the stock market. We are stuck as the way to go what is your pain. Well I'd say it's and I'm alteration to remain I. Another volatile fashion world we are worthless and you know you are right out checks a balance my checkbook. But I've learned over the years that there are other choices and they are the choices that are available. That I've personally put into my retirement accounts to make sure that a five pence a way. Before my wife she's all set was pension type income and that's flu like the stuff that you do seem merely. Give people the choice yeah that would register as we're talking you know I have a great idea. Sometimes dentists don't floss chip. Sometimes. Lawyers don't have will sometimes doctors smoke sometimes start to smoke right sometimes. In Al case lets him take the next five minutes talk about sort of what we've personally done. To make sure that we follow those rules you know like I'm 51 years old I'm in the middle of my. Prime earning years were running we're being home playing in our spend more time in my office and I to a home. I'm no different than the people that which caters to a certain people who listen to us I don't I wanna make money and I don't want to Rosenberg you know pretty simple. So I have some of my accounts I have some of my counselor in these deferred. Our non non non qualified deferred compensation plan which is a multiple. But it's essentially a place for me to put money. After I've Max though. My 401K two deferred for future compensation salute to defer for future years so I can use it right there. So the benefit there is that there's some tax benefits and taken out and actually be too right you can take a tax free. But I do use a fixed index account. That allows me to only make money. But never go down so as an example I'd this in this kind of about five years ago. It has a maximum return of 12%. And it's linked. To be performance. Of the S&P 500 is actually not in the S&P 500. But basically whatever the S&P 500. Does over that time period and I have mine my contract. I won't get exactly that number. Up to a maximum of 12% of what appears to be goes down. I lose nothing that's the best it's so let's say you that your example you have a 100000 dollars in this account to confess to being goes up 12% you get the twelve I get the twelve and -- as he goes on as 40%. You only get twelve I only get twelve so as to be goes down. 212% I stay neutral minority on credit. I don't lose anything apparent so I think the reason I made me think of this is last year I had a novel idea it's a great idea wash your iron about eleven point two. The recipe actually did a little bit more but mom I'm not paid I'm I'm I'm happy with that I'm fine point two it's great it's great you know so. There's been years that I've all I've only earned twelve and the S&P did you know far far greater and and yeah. You know it's mean look who I could've done more but I don't I I I'm not short sighted. Because this in years that this PS lost a lot of assists Indonesian part of some charts that say if you eliminate. The down years through the S&P C. You could earn a lot less like you say I earned twelve and earned 40% a one year. But you come out ahead in the end it just by eliminating I was seven years listen I was with a good friend of mine the other day. This gentleman probably if I think yes he makes maybe three million bucks a year so I'm runs are huge company. And we SATA talking about the stuff that we do here is you say hey you know have you ever heard of such and such does. You know what putting this thing in and all of on the executives voted at the the board directors meeting now we're gonna do this and I really of course I've heard of it. And he says you know if I called back and I could just earn. 56 even 7% the year to be perfectly happy every year without every I'd be perfectly happy. In and so my point is even truly extremely wealthy people then. They're happy with just something. Of reality which is you know give me 56% I was happy nobody nobody likes to lose money nobody want to earn a half a percent of money in the bank. Everybody's looking for yields but everybody is also looking for safety so this could be a perfect. Choice for them and that's an alternative and so long term I think for these people when they say. Will rue skip up the next four years I'm guessing because of our new president. Let's give me chance let's hope he does real well but. Half the people say the market's gonna fail won't have to markets say. Mark is how the people say it's gonna still continue around but listen it's everybody's opinion who knows at the end the day if you are close to retirement. Or are in retirement the last thing he wanted to do was to lose my territory passion so look at things that can help you attacked what happened. We have solutions for you. If you haven't made any effort if you haven't had a retirement planning consultation. If you think. There's things that you can learn more about that might help peel. Please take me up on my very sincere offer my sincere offers us. I would give you an hour of my time free of charge you're time is valuable. My times down people and I'm sharing and now which do you see if some of the things that you were revoked. Rich and nine in the rest my firm were capable of helping you fix so you're nearing retirement or you are retired and you just haven't. He felt like you haven't dotted the I's and cross the t.s well maybe you've been losing money. Well maybe you're worried about the future of sort of our economy you wanna just stay ahead. Take me up on my offer spend some times you know taken to Oz out of your day happen not a travel back and forth and I was sitting with me. I would give you a free retirement means planning consultation where we'll get to know each other there's no hard sell. In the shoe fits hopefully do some person he'll explain how these two accounts works council and they don't know it would do that down to the nitty gritty. So take me tomorrow for 8776308787. You can also go on the web site that just don't lose the money. Dot com click on my yellow cab breathe. Consultation. Some group of back to you tomorrow. Knowing no. We're not finished with football rich yup it's you know but sometimes life throws you a curve ball so next we're talking about how to prepare that current that. You're taking the first step to a sound financial retirement. This is just don't use the money radio and feel free to visit us at just don't lose the money dot com. Hi I'm Susan ward if you're listening to two of the cutest guys in finance radio and I knew cute. But prince Richard revealing sale laying a Rubino and blame the firm that specializes. Protecting your money both legally and financially. Stay tuned for more informative radio just don't lose the money dot com. Just don't lose the money on Samar merger rubio thanks so much for joining us is wonderful Sunday. And we said earlier came we've time flies man like. January is over well I wanted to go buy a little faster I'm waiting for spring him ready for spring two but many of people that have. Listen to us a long time. I just continue to come back and we wanna say thank you for that rich and I dedicated to helping you. This day in every day. To follow our tools to a number one. Just don't lose the money and move mama two don't forget rule number one all right let's quickly get into our next question peering Gail writes in. Dear rich and seeing him good friends of ours are going through some very tough times they are both 66. And she. Has alzheimer's the wife it seems to be prop progressing. Quickly and their life has changed dramatically. They have plenty of money so that isn't really problem. We don't have as much as them but we want people here. With thinking of buying long term care insurance what is your opinion of long term care insurance. Boy you know Sam mud early we talked about. So does the third party alive from age sixty. 29. And you really. Wanna start smelling the roses there and for these people's 66 years old that's a crime I have friends you know my good friends both Gloria they. She has alzheimer's and she's six. 62 years ago sheet and she's still lovely person but two years ago she looked. Young buys or she's going shorter times she still looks young you know and he would last year you can have a conversation with her. That she would have a conversation about old times this year. You know my friend bill went out there shovel some snow who's out five minutes he comes back and she thinks she's gone for months. She doesn't Emmys in excess as a situation. So and he used how do you you cannot prepare. Two lines and curve ball out and get that as occur before you cannot prepare for. That emotionally and how it affects the family I gotta tell you it's not just you know everybody has an experience and I we just recently my wife and I. My wife's uncle uncle Richie quake great great guy. We just. You know. Car so we just lost amuse us fantastic. Guy but you know he died of cancer and it happens so so fast but you know a year ago was diagnosed in young ladies going so. You know what we off curve balls so go forward you needed relief pitcher I guess you gotta prepare for the curve ball carrier emission the catcher's Mitt can catch the curve ball. So the question is what do you think about long term care insurance so let me point blank answer our question. We don't love it we don't hate it we think it works great. As long as you can afford it but I try to get it before you need it right you're gonna get it while you can still medically qualified for that. You know if you've listened to with any regularity you know that rich and I always say hey listen we're not all things to all people. When on the traditional sense investment people don't come to us his and is a buck. How quickly can turn that dormant to golf so that's not what we do. We've designed our company to help people protect. Your money in your how she your lifestyle. In protecting quote unquote has a different meaning for everybody so when it comes down to this long term care stuff. Generally nine out of ten times the first or comes to mind is long term care insurance. And but there alternatives to long term care insurance and I think if you if you can afford it if you can. If you can. Qualify for it it's not a at at all it doesn't hand in your retirement lifestyle. Then buy some long term care insurance if you were you doing just giveaways are buying into enemy nearly you talk about that our workshops we talk about. The and the combination products. Which I think that are like the new wave of two weighted things have done OK so now you put me in the spy you wanted to explain what a combination card is okay. So a combination product is simply nothing more than any old fashioned traditional life insurance policy. That page you number one when somebody passes away. For that same death benefit if you bought a 500000 all policy. They give you the ability to use that 500000 not the all policy before you die or you can use it for things like. Nursing home care or liking you and your friends case Gloria if they want to stay at home. Hire a nurse to come take care of Gloria. You can use that 500000 dollars before you pass away to offset some of those costs in the insurance company would just pay you one example. 2% of the 500000. Per month which is ten grand a month into the 500000 Jews got so how do you I do you buy it do you. Put money down 01 time you pay monthly or anywhere you want you doing what you want I just saw what a woman the other day she came managed says you know I got on a million bucks in the bank swats a lot of money and haven't bankers of why. So we saw some property years ago we took that money were more or old fashioned or conservative we put in the bank. I thought about investing but virtually no war or do just let me give you an end if you give you a little history about my family of three daughters. And they're all great kids but they all have sort of different paths the first one is a teacher. I'm great marriage. Love my grandchildren but you know they don't make a lot of money they're both teachers. My second daughter it's been divorced twice she's now home to decommission them with the mother living back with me. We have. I'm re helping her raise my grandchildren so you know she struggled. And the my third daughter. She's married same marriage for twenty years but you know let's keep this between mean you I don't really like my son Omar is not motivated. He's kind of he's a he's a bomb in my daughter works two jobs to sort of maintain their lifestyle so here's what I don't about a million bucks in the bank. I've taken out three CD's. Each 1200000. Dollars each. With each one of my daughters and they don't know it's there for them but I put their names on it. And then the other 40000 dollars they have to me because I kind of figured I'll be fine something happens to me in the future at least each one of my kids went to a grand. Her reasoning for coming to me was to make sure that the put a plan in place so. She doesn't become a burden to worked toward children we talked about maybe possibly put in some of that money into a protective he Revver global nursing home trust. And I said well let's try to solve the size. Why don't you take of the 200000 dollars per kid when he took half of it Lehman bank and the other half. You just all at once read check to the insurance company 400000 dollars. Visual why would I do that. So what you can buy insurance policy. That patient daughters about 230000. Dollars when you've got a set of two instead of a hundred it's what 230 right income tax rate. And you get to use that 230 in the event you go into nursing home a little bit of a time to help offset some of these costs some might. That that might be DFE you so you now not a burden to your children. And you know always is more to what the man but it's a wonderful tool when she says well what happens and I need the money. I mean the money back a few years ago one of the benefits of this insurance policies that if you put it in all fun let's say in this case a hundred grand. She changes her mind to get on money no interest or she's just assuming you know stand that spread like a mouthful I mean I understand the product to have product like that myself. But it's hard to follow it on the radio I think that the point is. There are alternatives. That you can use. That follow our rules to cover long term care WellPoint WellPoint so on that note if you like to join announce it on an upcoming. Retirement survival workshop would love to have you as our guests. And what specifically. Talk about a long term care option which are just brought up. And talk about it more in depth so you can join us on our workshops coming up Wednesday February 22. At the new Marriott. 10 o'clock in the morning and then Thursday February 23. Will be at the mark dale plaza in stone him also 10 o'clock in the morning if you log onto our web site just don't lose the money dot com. And you click under the workshop tab. There's more information this future dates. You do need to reservations you can also r.s two. And these retirement survival workshops were gonna show you how are you essentially retire comfortably. One of the things we'll talk about is long term care insurance options and alternatives. So please check so reserve that time it's really important. Just don't lose the money dot com. Again click under the workshop tabby get more information in our street Pete. On just always the money dot com Max what steps you can take now to protect your assets for your family we'll be right back. Hi somebody office manager derby you know in playing. I know regions and scheduled better than I know my own. And their calendars getting phone. If you'd like to meet with riches and call me now I'll put you at the head of the line but promised not to tell 8776308787. You call I'll answer it 776308787. Welcome back to just don't lose the money with Sam playing an attorney Richard remain out special guests on the show Frank Luntz thank Sam and I love the name of your show just don't lose the money. If you are as it all right but that's how people feel that they're nervous that's because of the economic conditions that exist today they actually could. Lose their retirement nest egg and that's where people if you are so important. Now I acted just don't lose the money went Sam Wang an attorney Richard Rubino. Just don't lose the money I'm Sam line I'm Richard Ramirez again for joining us is wonderful Sunday bulwark everyone's enjoying your Sunday. Sunday before the big weekend next weekend. Two bowl Super Bowl weekend. Who's gonna win tomorrow who knows right and anyhow. We hear we're excited to it. Shares some good ideas that you as to how you can protect your life's work. Hence while radio show called just don't lose the money rich and I'd been together for almost 46 years. And few years ago we wrote a book called just don't lose the money. On our radio show that we've been doing for over twenty years is called. Just don't lose the money. So rich and he guesses what we do we advice people are not losing money or just don't lose the money both legally and financially our firm is really two firms as the legal side. And the financial side and both those sides. A really designed. To keep assets. In the simply keep it he he keep it in the family keep it was you making sure that you're secure ever simply put we're not Alter install people. But between riches history background. Knowledge and not to Norman's put together. We can help you using financial strategies and insurance strategies to help you protect what you half. All right so on that note let's take our next question. Ken and Shannon writes in the rich and seeing him. We've been married for twenty years and we're trying to plan for our state. We are both married before and we have children from my previous marriages. We have avoided doing anything because we just don't know how to do and way to begin. How to we take care of each other and then NAFTA which make sure that we have assets split between the two famous it seems complicated to me any suggestions. Well and it is complicated it's more complicated in my situation I'm married almost 45 years and have two kids and three Greinke it's pretty simple you know. So and dubious idea four branches in you know system by threes it's when even. I could figure out the author of third rise 33 and a third. Verses point five torn flesh torn five point five. I'm just trying to be funny so I just talked to my wife and see if you want to know the kid none and I was saying but it's a big say that they are totally used to have a number cannot you annual wife pulled out he had no problem in my Guinness book world records also you know the it complications. Our eyes sort of would keeps lawyers. In business you know pitching pac ten and believe me not the first people that have come and nor will comment hopefully. That aren't second marriages and have blended families and whether some young somewhat older or some of the kids. Yeah it's it's complicated. But you have to go over your priorities as what you wanted to deal with. First so you say well I'm married twenty years my first priority is. Dealing with my wife and five dollars or her boyfriend I want her okay now the second priorities and make it down. Kids and grandkids you know we saw recently was a shift side chatting rich made me think about in recent. Case that we just finished met these people two months ago. Had a couple meetings. Listen to what they have to say not what they're worried about an almost identical to this case. Husband or wife married for the last twenty years. He has kids from previous marriage she has kids from a previous marriage there's about a three year issues difference between two. And unfortunately. His children. Don't like her. Okay. Wealth is no or you know so that that's a problem itself. He has substantial assets. She has some assets but just a little bit. So her worries pretty obvious I don't know what we're living fine now we do what we wanna do but when he dies. They're they're his kids are gonna want all his stuff phenomena being left you know homeless who will win and earn without an upper income. So we said look you know. What do we know a magical wand but instead of just hoping things won't work won't turn out fine here's where you should think about doing. Take income from a lot half of the husband's money that's what they've been doing but put into a fixed annuity. That basically turned it into a pension. But not Garrard not for only his life because it's his money it's actually put Jordan lives apparent so we were we were able to do to. Create an income stream of about 4000 dollars a month guaranteed for as long as the husband is alive and force wants the white so. So even if the husband died the wife's gonna get 4000 dollars a month which is more than she needs to live comfortable. And then the other half of the money we made the beneficiaries. Of the other half of the money directly to his children. So it doesn't go to her but kids are gonna get ticked off she's not going to worry about you know in my gonna happen out income. So at the end of the day when he took a little bit of effort but it was a win win situation well as a win win situation also leave you do. A combination of both legal strategies. And financial strategies for registration like Sam pointed out. Legal strategies that you could set up but I trust that goes into effect that they would Huntsman passes away and says that some of his money. Wife can take out in com only for the rest of her life but she can't touch the principal. So those types of trusts are specifically designed for this type of situation or spendthrift. That the situation so you can do. Both legal and financial strategies to make sure. Based staccato Richardson you and I both know it's really hard to answer a question on radio without known the full. Faxon circuit right it's so you know what are we just said now. I mean take it for with a grain of salt because depending on the particular situation may or may not work. On that note you know one of the things that. I know why do. I'm my wife's turn fifty this year so we're playing an up this party you might take some friends wrinkle way. Majesty of the day. I was planned trip I was on the website may be animals while I was sort of planned trip. This year we're gonna Nantucket for a for a week and we wanted our car over. I kid you not I was on the website trying to book a ferry for one for now. So we spent so much time doing things that lasts like a week. Lot of people don't take enough time and effort there to play out every time which might last thirty years. So on that note you haven't made the effort if you think you can do something better let all like these people you don't know what to begin. Hey I'm giving you an hour of my time that's what is free planning consultation comes in two. Chitchat have a conversation about what's broken what's not and see if what we do. Might make some sense to you see is that seat the shoe fits right so. On that note you like to take me up my offering you'll get to meet me same wind same guy you listen on the radio. Will be in the conference room. To assess a situation. If we can help hopefully we can do that. If we can't pay you listen it's an hour it's not a big deal. So please take me Obama for 877. 630. 8787. As the number union to call. Our operators are standing by with a lash goofy name and contact information and then tomorrow one of my. Colleagues one of my guys who call you back to fund can be time Peta commends Simi 877. 6308787. In on the web at just don't lose the money dot com. And don't forget to call Internet organizing kit. Very very important. Especially this time a year things come and things are mailed to you that you need to be taxes they'd need to your future. Great place to list all those things to see would you have what you don't have so called. 10776308787. Asked for the Rubino homeland. Organize a kid it's twelve pages. It's a they'd say too cool for you to list all your personal. Important financial information on 1 central place solicit your finger tips would love to share that with U 877. 6308787. On the web at just don't lose the money dot com we'll be right back. Just don't lose the money radio we'll be right back. If you have questions I would like to schedule a no obligation meeting with attorney Richard thirteen hours inland please give our officer Paul at 6176308787. Or visit just don't lose the money dot com. Ever wonder religions can get all their work done they start by calling me I'm Bobby office manager that will be doing. You can secure your financial future the same way by calling me you call I'll answer 8776308787. 8776308787. Just don't lose the money on center Todd Richard good there thanks again for listened hope you have your good days you know we talked a little bit of vote. Second marriage is so high you can equalize states' mission of the wife's taken care because that. The husbands kids don't like Carolina on a type of stuff to very simple things like hey is this something that I can be doing. As an alternative to buying long term care insurance. All that much more is exactly we can find on our website at. Just don't lose them money dot com which and I wore on the show each and every Sunday. Share some ideas to cute but you know there's lots of tiny print Sunday's if you like to call us the question. Here you 87763087. Set by each and every day problems. Rule number one. Just don't who's what and remember to don't think several mobile wants so again thanks Tony and have a wonderful day. Signing up and saying goodbye and saying what I'm Richard you know take care. The information on this program is not intended to provide legal accounting tax and investment advice. Richard Rubino a sandbag their principles are revealing like LLC and are no insurance agency help us if we. That's broker's license 17833. Down. I'd say this over the last thing I'm registered investment advisors on your investments. This shows a service of the.