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Welcome to How to Retire on Time, a show that answers your retirement questions. Say goodbye to the oversimplified advice you've heard hundreds of times. This show is about getting into the nitty-gritty so you can make better decisions as you prepare for retirement. Text your questions to 913-363-1234 and we'll feature them on the show. Don't forget to grab a copy of the book, How to Retire on Time, or check out our resources by going to www.retireontime.com.
Welcome to How to Retire on Time, a show that answers your questions about all things retirement, including income, taxes, social security, health care, and more. This show is an extension of the book, How to Retire on Time, which you can grab today on Amazon or by going to www.how to retire on time.com. My name is Mike Decker.
David:I'm
Mike:the author of the book, How to Retire on Time, but I'm also a licensed financial adviser, insurance agent, and tax professional, which which means when it comes to financial topics, we can pretty much discuss it all. Now that said, please remember this is just a show. Everything you hear should be considered informational as in not specific financial advice. If you want personalized financial advice, then request Your Wealth Analysis today from my team by going to www.yourwealthanalysis.com. With me in the studio today is my colleague, mister David Fransen.
Mike:David, thank you for being here.
David:Yes. Thank you for having me.
Mike:David's gonna be reading your questions, and I'm gonna do my best to answer them. You can submit your questions at any time by texting them to 913-363-1234, or you can email them to hey mike@howtoreontime.com. Let's begin.
David:Hey, Mike. What do you think the market will do in 2025?
Mike:Well, I can tell you exactly what's gonna happen.
David:Oh, everybody. Listen in.
Mike:I'm a put money on this. If I were a betting man, I'd put money on this. In 2025, without a shadow of a doubt, it's gonna go up or it's gonna go down.
David:I think you're right on that.
Mike:Yeah. With a small chance that it goes 0. Yeah. But that's a small chance. Yeah.
Mike:No one knows. And I I love the speculation. You know, it's it's funny when I talked with other financial advisers at these conferences, I'd say, how do you do your investment planning? And they'd say, well, we pay economists a lot of money to give us projections, and then we invest based on those projections. And I immediately think to was a year or 2 ago where a 100% of economists projected a recession that never happened.
Mike:Yeah. It's just guessing. So if we were to take a case study, it would be what happened in Trump's 1st term. The 1st year was smoothing up. It was quite nice.
Mike:The 2nd year, it went down. The market lost money. In the 3rd year, there was a lot of whipsaw, which means, it's when the market turns on a dime. So maybe it'd be going up, then it sharply went down, then it sharply went up. And that's very difficult if you're doing more sophisticated models like absolute return or trend following or momentum that can give you false signals.
Mike:And then in 2020, it crashed. Yeah. That wasn't fun. It recovered. Thank goodness that year, but it a lot of people got their emotions got the best of them and it crashed.
Mike:So in Trump's first term, we kinda saw 1 year of everything. Anything's on the table here. No one knows. It could be growth, could be, a lot of whipsaw. The tariffs really could make for a wild ride.
Mike:We don't know. If you're pro Trump or anti Trump, that matter. The market is what the market is. 100% of businesses are gonna try and make money. They know the terms.
Mike:They know what to expect. And they're gonna do their best within that situation. But this just goes back to my original philosophy. You plan for up markets or down markets. So if the markets go up and you're retired, great.
Mike:It's probably gonna be pretty easy to draw income. But if the markets go down, where do you draw income without accentuating your losses? Is your portfolio diversified in one strategy like buying hold, which is the most common I see? Or do you have diversified strategies? So you've got some absolute return in your portfolio.
Mike:You've got some trend following in your portfolio. You've got some fundamental analysis in your portfolio and you've got some passive in your portfolio. That's a great way to approach the unknown. Because there are certain things you can't control like the market, but you can control your approach. And it goes back every single time to do you have a complete plan?
Mike:Everyone's got a plan.
David:Mhmm.
Mike:But do you have a complete plan that's prepared for the nuanced future? Have you explored your efficiencies? The strategies that help you get more out of your hard earned money in multiple situations. And then do you have a diversified portfolio, diversified by strategies, diversified by objectives, diversified by timelines, and so on that supports those strategies and overall supports the plan. Because if the answer is yes, you really wouldn't care.
Mike:This is more of a party conversation for the the nerds like me that like to speculate about the economy. Mhmm. But you don't go off of a speculation. You gotta have plans for both.
David:Right.
Mike:At least for me, I'm not in the let's make you the richest person in the graveyard situation. I'm in the position of how do you live your best life and how do we hedge against the risks?
David:It's kinda like in the winter when I'm getting ready to go somewhere with my kids and they don't wanna wear a coat to the car, they say, well, why don't I need a coat? I'm just going to the car, and then when we get to our destination, we're gonna go into the building or whatever. But I say to them, well, what if, I don't know, something happens and the car gets stuck and are stranded, then we're out in the cold. Right? Yeah.
David:We wanna keep warm.
Mike:Or what if it just got a flat tire?
David:Flat tire. What if I'm out in the dark? Do I have a flashlight in the car so I can see to change the tire?
Mike:We're in Kansas Kansas City. Right. It can just all of a sudden rain out of nowhere. Yeah. You wanna be prepared.
David:Be ready for anything. No. I just don't know.
Mike:Maybe that's the Boy Scout in me. Be prepared. Right?
David:It's it's a good motto.
Mike:And if you wanna be more prepared for whatever might happen, because no one knows the future, and that's the truth. Anyone that says otherwise is selling you something. If you wanna be prepared for the future, whether the markets do go up, do go down, whether it's a rough few years or a wonderful few years. If you wanna be more prepared for that, then request your wealth analysis today. Call 913-363-1234.
Mike:Again, that number 913-363-1234. Here's Here's what's gonna happen. You're gonna get a friendly voice on the phone. They're just gonna gather some basic information from you. Send the information to David and myself.
Mike:We'll reach out. We'll schedule a 30 minute call where we can explore your lifestyle and legacy potential. And then from there, we'll schedule the time to do a 60 minute analysis review that's highlighting the risks you may not know exist. That's highlighting your lifestyle legacy potential. That's exploring strategies that you may not know even existed that you could implement to get more out of your hard earned money.
Mike:And overall lower your risk so you can focus on time, your most precious asset, and how you could potentially be spending more of it however you want. That number 913-363-1234 doesn't cost you a dime, but could really change your life as you look towards the future and how you could retire on time and even stay retired. That's 913-363-1234. That's all the time we've got for the show today. If you enjoyed the show, consider subscribing to it wherever you get your podcast.
Mike:Just search for how to retire on time. Discover if your portfolio is built to weather flat market cycles or if you're missing tax minimization opportunities that you may not even know exist. Explore strategies that may be able to help you lower your overall risk while potentially increasing your overall growth and lifestyle flexibility. This is not your ordinary financial analysis. Learn more about Your Wealth Analysis and what it could do for you regardless of your age, asset, or target retirement date.
Mike:Go to www.yourwealthanalysis.com today to learn more and get started.