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If you missed our TV Show “The Money Puzzle”, Chris Vaughn and Eric Douglas talked about the phases of retirement. It’s important to understand this because you have to know where you are, and you have to know what the next phase looks like. By first understanding your retirement goals then you can start preparing for retirement.

Speaker 1 [00:00:21] Hello and welcome to the Money Puzzle. I’m your host, Randy Meijer. And joining me today are Kris Vaughan and Eric Douglas from Family Wealth Planning Partners. Welcome, gentlemen.

 

Speaker 2 [00:00:32] Thanks.

 

Speaker 1 [00:00:33] Thanks. How are you today, Chris?

 

Speaker 2 [00:00:34] I’m doing great today. Thanks for asking.

 

Speaker 1 [00:00:35] Sure. And how about you?

 

Speaker 3 [00:00:37] Oh, I’m fantastic.

 

Speaker 1 [00:00:38] Thank you. So last week, we got to know a little bit about you, your firm, and we met Brian. This is our first time meeting you. It is? Yes. Tell me in the viewer a little bit about yourself and and your why your passion for this business.

 

Speaker 3 [00:00:50] So so Erik Douglas, I was born and raised in Louisville, Kentucky, as is most people that live in Kentucky are they don’t ever leave. Right. Or if they do, they always come back after college or something. But I grew up in the business. My dad was an advisor. So from a very, very young age, I was learning about stocks and bonds in the market. I remember my dad actually coming into my elementary school teaching the stock market game for junior achievement. I remember that in fifth grade pretty vividly. So we were all picking stocks and figuring out how they how they performed against each other. I was picking like Pepsi and Coke and, you know, pick the stocks, you know. Right. So. So it’s I’ve really been into to this business in this world, really, since I was a kid.

 

Speaker 1 [00:01:28] That’s awesome. So you’ve really accumulated a lot of years of knowledge.

 

Speaker 3 [00:01:33] So. I suppose so, yeah. So. But it’s fun. I really like it. I just have a passion for helping people and and being able to, to get them to where they want to be and live the retirement that they dream of.

 

Speaker 1 [00:01:42] Now, speaking of knowledge, you know, last week we got to know you a little bit better. Your approach this year. We’re going to get it this year. This week we’re going to get into a little more education. We’re going to talk about the phases of retirement. Why is it important to understand this?

 

Speaker 2 [00:01:58] Well, it’s important to understand it because you have to know where you are and you have to know the things that that next phase looks like. If you know what that looks like, then you can start preparing for it. You know, you have to know what the finish line looks like to know what the steps are to go along the way.

 

Speaker 1 [00:02:14] Okay. So what is the first phase, if you will?

 

Speaker 2 [00:02:17] Well, the first phase is the accumulation phase. And the accumulation phase is very simple. That’s that’s the time that you’re you’re building up for retirement, that you’re working years. It’s it’s pretty much your entire life up until that moment where we no longer want to work out of necessity. Okay. So and that’s what accumulation is.

 

Speaker 1 [00:02:39] Why is the account type so important?

 

Speaker 3 [00:02:42] Well, during the accumulation phase, you’re obviously these are your working years, right? So you’re still working. You’re still contributing, you’re saving. You’re investing. Right. You’re not focused on retirement income quite yet. For the most part, you’re probably not too worried about an estate plan quite yet. Right. So when you’re saving and when you’re investing, it’s very important that you’re focused on the types of accounts that you’re utilizing or you’re putting your money in to achieve those goals. The reason why your account type is so important, quite frankly, is it’s taxes, because every dollar that you put into a different type of an account is going to be taxed in a different way in retirement. So when you’re trying to put together a comprehensive retirement income plan, it’s best to have different sources of income so we can control the taxation of your retirement income a little bit better. What we see so often, and this isn’t necessarily horrible advice, but so often people get the incomplete advice to max out savings to their 41k through work. Get the company match and that’s fantastic, right? But so often we see clients walk into our office, they’re ready to retire in a year or two. Their cake has already been baked. They’ve got everything in their 401 k or their 43d plan through work. They don’t have a brokerage account. They haven’t set up a Roth. There’s not really a great way to set up a kind of a multi tier retirement income stream with different types of taxation. So we’re trying to optimize your the taxation of your retirement income. That’s different to do when everything is in one single account. That’s what we want to talk about, several different buckets that you can utilize to put your money in in the different types of accounts.

 

Speaker 1 [00:04:14] So you’re saying a lot of clients come to you and their puzzle, if you will, is incomplete or unbalanced?

 

Speaker 2 [00:04:20] They have one piece.

 

Speaker 1 [00:04:21] That’s not good.

 

Speaker 2 [00:04:22] No, that’s not good. It’s it’s difficult to put together a big puzzle when you only have one piece.

 

Speaker 1 [00:04:26] Mm hmm. Okay. Now, how can a client know if they’re saving enough, if they’ll have enough to retire on?

 

Speaker 2 [00:04:33] Well, that’s we like to call it the financial plan, but it’s really it’s the puzzle. Okay. If you know what that what that puzzle looks like, if you know what the final goal is. So in the case of retirement, it’s how much income do you want to have? What kind of goals do you have? My goals and yours are not the same. So it’s important to kind of walk through those and define them as best you can based on your age. The younger you are, the little more difficult debt is. But once you’ve kind of laid those out, then you can go back to that plan and say, okay, how much do we need to save the savings that we have? What types of accounts should they be in and what types of investments and levels of risks should be applied? That’s kind of putting that puzzle together, figuring that out.

 

Speaker 1 [00:05:19] Now, would you say the risk that. You can take during this phase as more and you adjust that later on?

 

Speaker 3 [00:05:26] For sure, absolutely. So you’re going to have different risk profiles or different risk tolerances throughout your investing career. But typically during the accumulation phase prior to retirement, you do need to take on a greater amount of risk. Or you should really any way, because when you think about the biggest source of success in investments, it’s time. The best thing you can give your investments is time in the market to perform. That’s going to be far more effective than trying to time the market in any way, shape or form. So when you have when you’re younger and you’re in that accumulation phase and you have time still on your side, it’s better to be a little bit more risky, a little bit more aggressive in your investments if it’s obviously appropriate for your plan. Obviously, as you get closer to retirement, you’re going to start paring down that risk a little bit. And of course, that might change a little bit more even as you get into retirement and beyond.

 

Speaker 1 [00:06:15] Now, guys, I am not personally a risk taker. I don’t like roller coasters. I don’t eat spicy food. Now, if you have someone like me who is in the accumulation phase but doesn’t like to take a lot of risk, what would your suggestions be?

 

Speaker 3 [00:06:29] Look.

 

Speaker 2 [00:06:29] Go ahead.

 

Speaker 3 [00:06:30] Well, you can do a few different things. I mean, obviously, you want to build up a well-diversified portfolio. So when we say taking risks, that doesn’t necessarily mean we’re going to go to the roulette table and go on plan. Right. That’s not what we’re that’s not what we’re talking about. We’re building well-diversified portfolios. And I guess probably risk isn’t the proper term to use when we’re talking about strategy, when you’re a little bit younger, but maybe a little bit more aggressive. Because the other thing you had to think about, too, in our current climate of high inflation, it’s honestly a little bit more risky to not be aggressive enough in your early years because you need to be focused on long term growth potential. And the best way to achieve that is really with the well-diversified portfolio. And a certain level of that is going to need to be invested in, you know, stocks and ETFs and mutual funds.

 

Speaker 2 [00:07:18] It really goes back to that education piece. When you say you’re not a risk taker, what most people are thinking about is investment.

 

Speaker 1 [00:07:25] Right.

 

Speaker 2 [00:07:26] But it’s not possible to lower one risk without elevating another one. So to Erick’s point, if you lower your investment risk, you’re increasing your inflation risk. Oh, so you’re going to be taking certain amounts of risk. It’s balancing them out so that you’re actually comfortable with it. And it still accomplishes the plan.

 

Speaker 3 [00:07:44] And that’s why we have clients come in and that’s why we go through the planning process. Because my first question to you, after you tell me, I don’t like taking risk, define that for me. What does that mean?

 

Speaker 1 [00:07:54] So you’re going to ask me what my goals are, what I’m comfortable with, and we’re going to come up with something together that makes sense.

 

Speaker 2 [00:08:00] Exactly.

 

Speaker 1 [00:08:01] And that’s how you build the perfect retirement with peace of mind. And I think this is a great time to offer the viewers that very special offer you have for them today before we go to a commercial break. So, Eric, do you want to tell the viewers or.

 

Speaker 3 [00:08:14] Yeah, no, absolutely. So if you’re one of the first ten callers, please give us a call. 844 900 5210. Give us a call. Come in. We’re going to create and go through a full scale financial plan with you. We’re going to educate you on on really all the different things that you have. So your current trajectory. But really, to use the money puzzle analogy, bring your puzzle into us. We’re going to talk about your life insurance, your investments, your risk tolerance, your profile, your estate needs, all the things that you want to accomplish, all the dreams and goals that you have. We’re going to help put together a financial plan to help you get there.

 

Speaker 1 [00:08:50] Folks, what they’re offering today, what Chris and Eric have for you is a financial plan with peace of mind. If if your financial situation is keeping you up at night, by all means, pick up the phone today and call the numbers on your screen. 844 952 ten. We’re going to go ahead and open up the phone lines. We’re going to take a very short commercial break and we’ll be right back. How confident are you in your current financial plan? Do you know with certainty how the recent market volatility will affect your future hopes and dreams? How much are you paying in taxes and how much are you losing to unnecessary high fees? You didn’t work to save this money so that you could spend your time worried in retirement. Now is the time to take charge of your finances so you can feel confident about your future. Call in during the next 30 minutes of today’s show, only to set up an absolutely complimentary, no obligation, full blown financial review that will result in your own customized written plan. This is a $999 value that we’re giving away complimentary to the first ten people who respond. We’ll start with a full blown analysis of what you already have by running a report to untangle how much you are currently paying in fees, how you’re allocated for risk, and what it’s costing to work with your current advisor. Next will identify your goals. Where do you see yourself in the next five years? Where do you want to go? And who do you hope to go there with? Is your current financial plan set up to get you there without mishap? Let’s design a roadmap to create a financial plan you can follow with confidence. Get the peace that so many people are missing from their retirement. Find out how having a written plan can make a difference to your retirement dreams. Call now to schedule your complimentary, no obligation, full blown Financial Review today. Welcome back to the Money Puzzle. I’m your host, Randi Meijer. And today I’m talking with Chris Vaughan and Eric Douglas from Family Wealth, the financial services guys. We’re talking all about the different phases of retirement. So we just went over the accumulation phase. We’re educating the viewer today. The next thing we want to talk about is the income phase. So what exactly does that mean, Eric?

 

Speaker 3 [00:11:13] Well, the income phase is retirement, right? What do you spend the entire accumulation phase doing, saving and investing for retirement? That’s when we switch. And this takes a real switch in your mindset, going from the accumulation phase towards the income phase, because you are going from a savers mentality to now you’re living off of your investments and you’re going to draw income from your investments. The biggest thing that we talk about when clients enter into the retirement or the income phase, we want to make sure that we establish that same they’re continuing that same stream of income and that their mentality doesn’t change. They’re going to continue receiving income. Just where they receive income from is going to be a little bit different. If you spend 20, 30 years working for a company, you get a paycheck. They’re not going to be paying you anymore. You’re going to be paying yourself, though. You still need to have that same mentality, still put the budget together. But this is where we come in and do the comprehensive financial planning to make sure that we replicate those income streams in the most efficient and optimal way possible to to make sure that they we alleviate the number one fear that most clients have as they enter the income phase, which is running out of money.

 

Speaker 1 [00:12:22] Absolutely. I feel like this this part can become very intimidating. You know, that paycheck isn’t coming any more. And now it’s up to you to have a really solid plan to make sure you don’t run out of money. Now, is this where the bucket strategy comes into play?

 

Speaker 2 [00:12:36] Well, bucket strategy is one of the types of income strategies you can have. There’s quite a few. The bucket strategy, I mean, it’s my personal favorite and there’s several ways that you can go about doing it. It really started out as an alternative to the old what we called the 4% rule. Once upon a time, the concept was you saved up enough money that if you took 4% out of it every single year, that would provide you the income that you need. The problem is we can’t generate those kind of things out of very, very low risk type investments like you could with very simple bank notes, things like that 20, 30 years ago. So the bucket strategy is a concept of we were talking earlier, you should be more aggressive during that accumulation phase. It’s understanding that part of you should still be aggressive during the income phase. So you’re going to separate your life out into several different buckets. So the early one, the money that you’re going to be paying yourself in the near future, that bucket is going to be very low to no investment risk, whereas you’re going to have another bucket for a different window of time and you can be vague with that. So it’s just more long term or you can have very specific ages in your life. The money that’s in that bucket is for that period of time. The further out that period of time is, the more investment risk you can take. And people have a little trouble with this. But if you think if I retire at 65, the money that I’m going to be using at 85, I’m not going to touch that for 20 years. Well, think back 20 years earlier. So you’re now you’re 45. How aggressive would a 45 year old typically be? It’s the same amount of time. And that’s the bucket strategy kind of in a very long nutshell there.

 

Speaker 1 [00:14:20] Well, it really simplifies it, doesn’t it? It makes it really easy to understand. And I think that’s what most folks at home, why they’re tuning in today, it seems to be a little overwhelming. We’re thinking about all this, so many moving parts, so many puzzle pieces. How else do you make it simple for your clients to understand what other ways?

 

Speaker 3 [00:14:39] So say the same client that’s moving into the income phase. They’ve spent their once again their entire time, their entire working life receiving checks on, let’s say, the first and the 15th of every month. We want to replicate that. Right. So many times people don’t understand the concept of paying themselves and receiving income from their investments. We try to make it we try to continue their life as normal because you’re not going to start falling into new habits at this point. You do what you do. You structured your lifestyle a certain way. For the most part, you’re going to continue that. Maybe you buy an extra boat or two or, you know, you spend some more money on the grandkids. Right. But for the most part, you have your habits ingrained in you at this point. So typically the best thing that we can do is to continue to replicate the exact same type of income stream that you’re already used to. So if you get paid on the first and 15th, we’ll make sure you’re receiving income on the first and 15th, we’ll make sure your taxes are deducted before you receive that paycheck to yourself.

 

Speaker 1 [00:15:33] Chris, what is the best way to set up an income stream for your clients?

 

Speaker 2 [00:15:37] Well, there’s no one best way. It’s different because every client is unique. You know, the bucket strategy that we were talking about a minute ago that is very desirable to some people. They love that concept. Other people find that too complex, scary, whatever the reasons are. So you can go back to drawing a percentage of your of your your assets as income. But it’s also in timing Social Security correctly for the individual. It’s in having some permanent predictable income from pensions or any number of other places that can be counted on. Some people that alleviates that emotional concern of, am I going to run out of money? If there’s if there’s permanent, predictable money that they’re not worried about running out of, that alleviates quite a bit of that. So there’s no one right strategy. Everybody is unique.

 

Speaker 1 [00:16:27] Okay. Now, let me ask you this. Do you find that your clients are spending more or less once they retire?

 

Speaker 3 [00:16:34] Well, they’re definitely not spending less. Otherwise, what’s the point of retiring? Right. Right. Typically, we see spending occur in stages as most people enter into retirement. And usually we can illustrate the retirement income in several different ways. But number one, no, you do not spend less in retirement. That’s one of the biggest retirement myths out there is. I’m going to be I’m going to be able to live on 70% of my income in retirement. Now, why would you retire if you’re going to take a pay cut to retire? That’s no.

 

Speaker 2 [00:17:01] Fun. You’re not going to do that.

 

Speaker 1 [00:17:02] Oh, well, yeah.

 

Speaker 3 [00:17:04] Exactly right. So, you know. No, absolutely. Most clients are going to continue to spend at least the same amount of money, if not more. You got a lot more extra time on your hands. You got to fill that time doing something, and most of the things you would fill it with are not free.

 

Speaker 1 [00:17:18] And that’s why it’s so important to really come down and sit and sit with you guys and understand that you have to plan for this type, not only plan for your spending habits, your goals, but what you want to do in your retirement, what you’re going to spend your money on and make sure you have enough, enough without running.

 

Speaker 3 [00:17:33] Out, or if you are going to retire too. And we can even model out your retirement income to include you want to buy that vacation house in Florida? Okay. What does that look like? You want to buy that boat? How does that affect your overall plan? What is the probability of you running out of money? How is that affected by any major purchase that you might make in retirement? We can model all of that out and illustrated very, very clearly for the client to understand and make a better informed and educated decision.

 

Speaker 1 [00:17:58] So what strategies do you have to help a client have a consistent income in their retirement?

 

Speaker 2 [00:18:05] Well, there’s two different things, and I alluded to this a minute ago. There’s permanent predictable income and there’s nonpermanent, non predictable income. So that that goes back to the emotional side of it. How how comfortable are you with different types of things? So your permanent predictable income should cover, at the very least, all of the bills that are never going to go away. People think, Well, I’m going to have the house paid off. You have it. You still have to pay the utilities. I can assure you. You’re still going to have to pay the taxes on the property taxes. You’re still going to have to have insurance. You’re still going to buy groceries. All of those things should be covered by income that can be counted on that you don’t have to worry about. Right. If you can do that, then lifestyle can come from the non permanent, non predictable side, which those are your investments, those are your your traditional IRAs, things of that nature. And they can be modified and tweaked as far as your retirement years go on.

 

Speaker 1 [00:18:59] Right. And even to let’s include, you know, life’s UPS’s or, you know, health insurance. You have to be prepared for that also. So, guys, we have to take another quick commercial break. Let’s remind the viewer of the very special offer you have for them today. Chris, would you like to tell them what you’re offering?

 

Speaker 2 [00:19:16] Absolutely. To the first ten callers, we will do a complimentary financial plan. That plan is going to put the puzzle pieces together for you so that you can have that piece of mind of knowing all of the goals that I have are likely to happen, that I’m not going to be worried about running out of money during my retirement years. And that’s that’s what putting that puzzle together. So first, ten callers, we’re going to do that complimentary.

 

Speaker 1 [00:19:44] Okay. Well, we are going to take a very quick commercial break, but I encourage you to pick up the phone and call the numbers on your screen. It’s 1844 950 to turn. What Chris and Eric are offering today. You today is the opportunity to retire with peace of mind, stress free, to enjoy these latter years of your life. So please stay with us. We have more to talk about when we return.

 

Speaker 4 [00:20:10] As a good saver, you’ve been putting away money during your working years. Studies find that the biggest fear of retirees is running out of money. Market volatility isn’t just a downward movement of stock prices. It’s the size and frequency of change. The more dramatic the ups and downs, the higher the volatility. This can put savers who are newly retired or a few years away from being retired at greater risk. Today’s generation of retirees is not receiving traditional pensions, as our parents or grandparents did. Instead, we have retirement accounts such as 401 KS or for all three B’s. These accounts typically expose your money to market risk. The last thing you want right before retirement is to lose a portion of the money you need for income. But how do you turn these accounts into a retirement income? Is it safe to keep all your retirement money sitting in the stock market? The last thing you want is to lose a portion of the money you need for income due to market loss. By working with a financial professional, you can learn how to turn a portion of your savings into an income stream for life and income for the life of your spouse. If you’re married, we all have moments in our lives when we wish we had taken action sooner. Don’t let procrastination rain on your retirement parade. Act now before it’s too late. Please call our office to set up your no cost, no obligation retirement income review today.

 

Speaker 1 [00:21:36] Welcome back to the show. I’m your host, Randy Major. I’m talking with Eric Douglas and Chris Vaughan. And we’re talking about the different phases of retirement. Now we just want to go over the income phase. Now we’re going to get into the distribution phase of life. So who wants to start? What is the distribution phase all about?

 

Speaker 3 [00:21:55] I’ll start us off. Unfortunately, the distribution phase is really when we need to start talking about estate planning, because one of the unfortunate realities of life is that doesn’t go on forever. Right. So we need to start talking about what you want or what plan you want to put in place for your money after you pass away. And that’s really what we mean by the distribution phase.

 

Speaker 1 [00:22:15] Okay. Now, do you talk to clients about having a trust that important?

 

Speaker 3 [00:22:19] Absolutely. Absolutely. One of the biggest misconceptions out there is I don’t have it. Most people think they don’t have enough money to utilize the trust. I think it’s something that the ultra rich and wealthy that’s a tool for only them.

 

Speaker 1 [00:22:30] Another myth.

 

Speaker 3 [00:22:31] It really is. It really is a myth. Yes. For the most part, if you have money and you want to make sure that it goes to the right people at the right time. And so many people use the example of the spendthrift kid or, you know, they don’t want him to to blow through his inheritance too quickly. Right. Or they want to make sure they’re sitting their grandkids. And in the next generations beyond them, they want to set them up for financial success down the road. Really, the only way, in the best way to achieve those goals is to do trust planning.

 

Speaker 1 [00:23:00] And without a solid plan. I mean it doesn’t it? Well, there’s it could go to Uncle Sam instead of your family.

 

Speaker 3 [00:23:07] Absolutely. And it’s not a solid plan without that aspect. Right. A good estate plan and a good financial plan is always going to include trust planning as well.

 

Speaker 1 [00:23:16] How much estate planning does your office do, Chris?

 

Speaker 2 [00:23:18] We do quite a bit. Well, first of all, as I just said, you don’t have a good financial plan unless you’ve got an estate plan. That’s part of it. If there’s a concept that some people will say, well, I want the last check that I write to bounce. Well, good luck. Timing that perfectly.

 

Speaker 1 [00:23:35] Oh, God.

 

Speaker 2 [00:23:37] You know, we love to tell people if we knew exactly the month and year that you were going to pass away, we could actually try to figure that one out. But we don’t have that. So if everything else is done correctly, it doesn’t really matter how long you live, there’s going to be money left over. And that money in those assets, you have to have a good estate plan in order to distribute those the way that you wanted that done. So estate planning is a huge part of that. We do it with every single client.

 

Speaker 1 [00:24:07] Eric, how do you recommend that your clients go about setting up an estate plan?

 

Speaker 3 [00:24:12] It’s really going through the planning process, right? And we always talk about planning. We don’t ever talk about we’re going to do a plan and it ends there. Right. We talk about planning because it’s an ongoing process. But really going through the planning process, sitting down. And when we get to the estate piece of the financial plan, it’s going to involve a few different meetings, to be perfectly clear. And really that’s probably the most complicated portion of the financial plan in most cases. But typically we’re going to sit down with clients and we’re going to go through, okay, who do you want to be your financial planner? Who do we want or who do you want to be your health care? What do those terms even mean? What do they do? What are the responsibilities? Should they be the same person? Should they be somebody different? What do you want to have done with your money after you pass away? We talk about trust planning. Do you know how many different types of trusts there are?

 

Speaker 1 [00:25:07] I don’t. There’s a lot. Oh, wow.

 

Speaker 3 [00:25:09] And so it’s not like we can come in and say, this is going to be the you know, this is the same trust is going to be appropriate for everyone. Some people might have more of a charitable bent. And we need to set up something like a charitable remainder trust or something like an irrevocable trust because we’re worried about estate taxes coming into play. Right. So there’s all types of different trusts and things that we need to consider as we’re walking clients through the estate planning process. Our goal is to go through all of those steps, map it out. So there’s a nice, clean flowchart for everyone to understand. Give it to you. Bring the estate planner, bring the estate planning attorney, I should say, into the office. Here you go. This is what we’ve already mapped out. Half of your work is already done. Right now let’s put pen to paper and make it happen.

 

Speaker 1 [00:25:52] Now, this is a perfect example of why it’s so important not to self manage your money, to really leave it to the professionals. Is this this piece of the puzzle is really important.

 

Speaker 2 [00:26:02] Well, you’re first of all, you’re singing in my heart right now when you say, yeah, you need some professional help. You know, one of the big issues on developing the estate plan, Eric said this a minute ago, people say, well, you know what? Trusts are for just ultra wealthy people and that’s not true. What a trust is for is its control. You’d be amazed how many people come in and they say, Well, I have a will. Okay, well, if we do our job right, there’s going to be some money left over when you’re gone. How’s that money going to going to go out? Oh, well, it’s going to go to my kids and the grandkids. Well, we’ve seen examples where, you know, you think it’s going to go to the kids and the grandkids, but that’s not the way it actually works out. So, you know, we had a case that we loved to allude to in our office all the time. And you know which one I’m talking?

 

Speaker 3 [00:26:49] I’m already laughing.

 

Speaker 2 [00:26:49] Here. You know, it’s a situation where grandma and grandpa had some assets. They wanted that money to get to their grandkids. You’ve got to do a trust plan. You got to do the transplant, and you’ve got to get this part of it done. They didn’t really want to get into that. So what happens is they don’t he passes away. She’s distraught. She doesn’t get around to it. Six months later, she passes away. It goes to the son. Then the son passes away a couple of years later. Well, now their daughter in law has it who remarries. And you see how this money is not getting to the grandkids. It’s those types of situations that cause an estate plan laid out properly to be incredibly valuable.

 

Speaker 1 [00:27:34] Well, this is such good information to the viewers at home. If you want to come in and meet with Chris and Eric and have them look over your financial plan, give you some peace of mind, call the number on your screen. Thank you, gentlemen, for all the good advice today. Absolutely. Viewers at home for watching. And we’ll see you next week.