Transkrip lengkap untuk STOP Buying This Before Retirement

home? 00:03:57.759 --> 00:04:04.240 Should I go ahead and get that lake property that I've been thinking about so I have a place to go hang out and vacation? 00:04:04.319 --> 00:04:15.840 And would it be less expensive to buy a vacation property that I own that I could Airbnb or do whatever and run down to and take care of and play at instead of taking trips all across the country? 00:04:16.000 --> 00:04:19.600 And these are all valid, very important questions. 00:04:19.839 --> 00:04:22.800 And so on today's show, here's what we're gonna do. 00:04:22.959 --> 00:04:32.959 We're gonna do it unlike we normally would do other shows, but we're gonna jump right into seven things that you should probably never spend money on right before you retire. 00:04:33.199 --> 00:04:37.439 Now, I realize some of you are gonna disagree and you're gonna be like, no, no, that should be on the list. 00:04:37.519 --> 00:04:40.160 But trust me, this is based on research. 00:04:40.319 --> 00:04:41.600 I'm great friends with Dr. 00:04:41.680 --> 00:04:42.560 Wade Powell. 00:04:42.800 --> 00:04:48.319 He created Retirement Researcher.com, the Retirement Income Style Awareness for Retirees. 00:04:48.480 --> 00:04:50.240 And I I've read the research. 00:04:50.399 --> 00:04:59.439 This is, and then of course, I've helped more than 2,000 people retire all across the country, and I've watched people make mistakes and I've had them say, hey, you should tell your listeners about this. 00:04:59.519 --> 00:05:01.040 I wish I would have done this differently. 00:05:01.199 --> 00:05:13.199 And so what I want to do on the show today is walk through, very, very briefly, walk through seven things that you should probably never spend your money on in the five years before you retire. 00:05:13.360 --> 00:05:23.040 And then I want to come back and revisit those seven things and go into a little bit more detail because, as you know, if you've been listening to me for the last 17 years, I have a story for everything. 00:05:23.279 --> 00:05:30.879 So I'm gonna walk back through some very painful, true stories about some of the bullet points. 00:05:31.040 --> 00:05:33.120 The seven things I'm gonna tell you some stories. 00:05:33.199 --> 00:05:43.439 I'm gonna attach some facts, some statistics, and even some personal stories about things I've experienced, family members have experienced, retirees have experienced, that will prove these points. 00:05:43.600 --> 00:05:44.800 So here we go. 00:05:44.879 --> 00:05:45.759 Let's jump right in. 00:05:46.000 --> 00:05:51.519 Seven things that you should probably never spend money on in the five years before you retire. 00:05:51.839 --> 00:05:56.079 So if you're within five years of retirement, I have a question for you. 00:05:56.319 --> 00:06:00.160 Are you still spending money like you're going to work forever? 00:06:00.319 --> 00:06:01.439 That's the first question. 00:06:01.680 --> 00:06:05.920 If you know you're going to retire, it's not a question, and it's three to five years from now. 00:06:06.079 --> 00:06:14.240 Are you still out spending all your paychecks and running your bank account and balance down to virtually nothing because you feel like those paychecks are going to come in forever? 00:06:14.319 --> 00:06:15.120 Because guess what? 00:06:15.279 --> 00:06:16.079 They're not. 00:06:16.319 --> 00:06:20.319 It's a different mindset when you know I'm going to be retiring soon. 00:06:20.560 --> 00:06:26.879 So the five years before you retire can be some of the most important financial years of your entire life. 00:06:27.120 --> 00:06:37.759 You're getting close enough to see your future retirement on the horizon, but you're still far enough away that bad financial decisions could follow you for decades, and we don't want that to happen. 00:06:37.920 --> 00:06:44.959 So today we're going to talk about these seven things that you need to think twice about before you spend your hard-earned money. 00:06:45.279 --> 00:06:47.279 So let's jump into them. 00:06:47.759 --> 00:06:53.120 Number one, a brand new luxury vehicle. 00:06:53.279 --> 00:06:58.160 Now, right off the bat, it's like you think I'm the preacher up there that you're like, how does that preacher know what's going on with me? 00:06:58.319 --> 00:07:00.079 Oh man, he's attacking me. 00:07:00.240 --> 00:07:03.199 Because you're sitting out there thinking, I'm so close to buying a new car. 00:07:03.279 --> 00:07:08.480 Maybe you're, maybe while you're listening right now, it's a Saturday or a Sunday and you're actually at a car lot. 00:07:08.639 --> 00:07:10.639 Sunday's the best time to shop for a car, right? 00:07:10.720 --> 00:07:11.759 Because there's no one there. 00:07:11.839 --> 00:07:14.800 So you can get out without the people just swarming all over you. 00:07:14.959 --> 00:07:27.839 The like just the in-your-face salesman, even though they say they don't do that anymore, but boy, pull onto a lot and you know you got three people sitting there just licking their chops, they're salivating, they're ready to run out and give you their business card and jump on you. 00:07:28.000 --> 00:07:32.800 So maybe you're out there right now looking for that new luxury car, and I get it. 00:07:33.040 --> 00:07:41.600 Your opinion is hey, I need to do this right now while I'm still working, while I can afford it, and this is going to be my retirement vehicle that takes me out 10 to 12 years. 00:07:41.680 --> 00:07:44.639 I get that side of it, but there's also another side. 00:07:44.879 --> 00:07:53.519 So, in the five years before you retire, the question is: should you be taking on a$70,000 or$80,000 or$90,000 vehicle payment? 00:07:53.680 --> 00:07:56.160 Hey, I just purchased two new vehicles. 00:07:56.319 --> 00:07:58.399 We are going to talk about that later in the show. 00:07:58.560 --> 00:07:59.839 I'm 55 years old. 00:08:00.000 --> 00:08:01.680 I'm not within five years. 00:08:01.920 --> 00:08:04.319 It was time for

me to make a transition. 00:08:04.560 --> 00:08:08.560 And unfortunately, I had to do two of them at one time. 00:08:08.639 --> 00:08:11.680 And there's there's a reason why, but I made the decision to do it. 00:08:11.839 --> 00:08:14.720 And I looked at some vehicles, I'm not making it up. 00:08:14.879 --> 00:08:18.959 One of the vehicles I looked at cost$175,000. 00:08:19.519 --> 00:08:20.399 I didn't buy it. 00:08:20.560 --> 00:08:21.279 Could I afford it? 00:08:21.439 --> 00:08:21.759 Sure. 00:08:21.920 --> 00:08:22.879 Would it have been smart? 00:08:23.040 --> 00:08:25.040 It would have been one of the dumbest things in the world. 00:08:25.120 --> 00:08:25.920 So I didn't. 00:08:26.000 --> 00:08:27.839 I didn't spend that kind of ridiculous money. 00:08:27.920 --> 00:08:31.120 But the vehicles I did purchase were between$60,000 and$85,000. 00:08:31.439 --> 00:08:34.799 So got a couple of new vehicles and they're they're not cheap. 00:08:35.039 --> 00:08:46.240 So before you go spend$70,000,$80,000,$90,000,$100,000 on a vehicle, you need to ask yourself, do I really want to carry this expense into my retirement years? 00:08:46.480 --> 00:08:51.360 You see, a vehicle that doesn't just cost you the payment and the interest from the loan. 00:08:51.519 --> 00:09:03.200 You have insurance, you have taxes, you have maintenance, you have fuel, and you have, of course, the depreciation of that vehicle, which can be significant, especially if it's brand new. 00:09:03.440 --> 00:09:04.399 You know what happens. 00:09:04.480 --> 00:09:14.080 I don't have to tell you, when you drive that brand new vehicle off the lot right after signing on the dotted line, you just lit fire to 10 grand almost every time, no matter the cost of that vehicle. 00:09:14.240 --> 00:09:16.960 If it's new, you have major depreciation. 00:09:17.039 --> 00:09:22.720 So it might look good, feel good, and smell so good to get the new one. 00:09:22.960 --> 00:09:32.320 But five years from now, you're probably going to wish you had that money sitting in your retirement account, and you're probably going to wish it had been drawing interest all that time. 00:09:32.639 --> 00:09:33.759 So that's number one. 00:09:33.840 --> 00:09:39.120 Let's jump into number two: a major home remodel that you don't need. 00:09:39.360 --> 00:09:49.039 Friends, there's a big difference between doing something that's absolutely needed and doing something because, well, I've got the money there now and I could probably afford to, so let's just go ahead and do it. 00:09:49.279 --> 00:09:51.679 So we need to think through some of these questions. 00:09:52.080 --> 00:09:54.080 Should you fix a roof that's leaking? 00:09:54.320 --> 00:09:55.120 Absolutely. 00:09:55.360 --> 00:09:59.440 Should you replace an HVAC system that's broken and not cooling your home? 00:09:59.679 --> 00:10:00.399 Absolutely. 00:10:00.559 --> 00:10:06.879 Should you make the home safer and more accessible thinking through your retirement years, maybe some handicapped ramps and handles? 00:10:07.039 --> 00:10:08.480 Of course, that makes sense. 00:10:08.639 --> 00:10:10.720 Those things can be smart decisions. 00:10:10.879 --> 00:10:26.720 But spending$100,000 to remodel a kitchen because you've just always dreamt of it, or because your neighbors just did it, or someone from church did it, before you make that kind of decision, you need to ask yourself, will this actually improve my retirement? 00:10:26.960 --> 00:10:29.919 Or am I simply doing this because I feel like I've got the money to? 00:10:30.000 --> 00:10:30.639 So why not? 00:10:30.720 --> 00:10:31.120 Let's do it. 00:10:31.200 --> 00:10:32.159 You only live once, right? 00:10:32.240 --> 00:10:32.639 YOLO. 00:10:33.120 --> 00:10:34.240 So let's think through that. 00:10:34.399 --> 00:10:40.960 Here's number three taking on credit card debt for vacations and lifestyle spending. 00:10:41.279 --> 00:10:46.559 Now you've worked so hard, and yes, you deserve a vacation, but here's the problem. 00:10:46.799 --> 00:10:58.159 You don't want to arrive at retirement with a vacation from five years ago, still setting on your credit card statement and having you make payments on something that's yesteryear. 00:10:58.320 --> 00:11:19.840 Hey, it's bad enough that you're paying for food that you ate a week ago, a month ago, a year ago, two years ago, but you definitely don't want major purchases on there, like a vacation that was great for your family, maybe it costs$7,000 to$10,000, but you don't want that on there when you're heading into retirement and you're gonna pay for it for the next five to ten years. 00:11:20.080 --> 00:11:21.360 You just don't want to do it. 00:11:22.000 --> 00:11:31.120 So if you can't comfortably pay for that vacation right now or whatever it is you're gonna put on the credit card, here's my advice don't finance it. 00:11:31.360 --> 00:11:38.080 Retirement should be about enjoying your money, not about making monthly payments on things that are already gone. 00:11:38.399 --> 00:11:39.919 Things from yesteryear. 00:11:40.159 --> 00:11:41.200 That's a mistake. 00:11:41.759 --> 00:11:44.159 Okay, let's do one more before we take a quick break. 00:11:44.399 --> 00:11:59.279 Number four, the fourth thing that you should consider, you should hit the pause button on before you spend money five years from retirement is oh, it's gonna be a tough one, helping your adult children at the expense of your own retirement. 00:11:59.440 --> 00:12:02.320 Now, this one's difficult because I'm in this situation. 00:12:02.480 --> 00:12:10.879 Hey, I had a daughter and a son-in-law, worked at the same company for more than a decade, both lose their jobs last year in 2025. 00:12:10.960 --> 00:12:11.840 And guess what? 00:12:12.080 --> 00:12:21.679 Where they lived and the type of industry they were in, especially when it involves counseling, drug and alcohol rehabilitation, those jobs aren't just on every street

corner. 00:12:21.840 --> 00:12:30.960 Those are things that people look at as a not necessary thing, even though there are a lot of people that struggle with those things and they did a lot of great teaching and they helped a lot of people. 00:12:31.039 --> 00:12:32.080 It was great work. 00:12:32.320 --> 00:12:34.399 Not easy to replace those jobs. 00:12:34.559 --> 00:12:41.120 So you had a family lose about 130 grand in income and then stay unemployed for more than six months. 00:12:41.279 --> 00:12:43.039 I've had to help a lot. 00:12:43.200 --> 00:12:46.159 I have single-handedly kept them funded. 00:12:46.399 --> 00:12:49.440 So I know what it's like to give up to the gifting limit. 00:12:49.600 --> 00:12:56.480 You can give to each child, the child, the son-in-law, daughter-in-law, you can give to your grandchildren, and I've done that. 00:12:56.639 --> 00:12:59.279 Give to every person there is and give the gifting limit. 00:12:59.440 --> 00:13:01.679 I know it's difficult to watch them suffer. 00:13:02.000 --> 00:13:03.840 But here are facts. 00:13:04.320 --> 00:13:07.039 Your children can borrow money for college. 00:13:07.279 --> 00:13:09.919 Nothing says that you have to give them every penny. 00:13:10.000 --> 00:13:12.080 I loaned my money for college. 00:13:12.320 --> 00:13:15.440 My dad helped me a little bit, but he couldn't afford to help me all the way. 00:13:15.600 --> 00:13:18.639 There's nothing that says you have to pay for every single penny of your kids' college. 00:13:18.720 --> 00:13:19.919 They can take a loan out. 00:13:20.159 --> 00:13:26.159 They can, I know this is going to sound so painful to them, they're going to cringe, but they can work longer. 00:13:26.320 --> 00:13:26.879 It's okay. 00:13:26.960 --> 00:13:28.879 They don't have to be retired at age 40. 00:13:29.120 --> 00:13:32.960 They can work into their 60s like many of you did or 70s. 00:13:33.200 --> 00:13:37.600 They can, ooh, this is a big one, adjust their spending and their lifestyle. 00:13:37.759 --> 00:13:44.639 They don't have to have every$1,000 iPhone every single time it comes out, trading once a year, every single year. 00:13:44.799 --> 00:13:48.480 The newest gadget, television, vehicle, toy. 00:13:48.879 --> 00:13:50.399 They can adjust their spending. 00:13:50.480 --> 00:13:51.679 They're going to be okay. 00:13:51.840 --> 00:13:53.360 They will survive it. 00:13:53.679 --> 00:13:55.279 So this is the thing. 00:13:55.519 --> 00:13:58.000 There isn't a loan program for your retirement. 00:13:58.159 --> 00:14:02.720 You can't give all your money away to all your kids and then say, well, I didn't want them to have a college loan. 00:14:02.879 --> 00:14:06.639 So I'll go out and take a loan out so I can survive my retirement years. 00:14:06.960 --> 00:14:21.679 Before you write that check for 50 grand to help them with the down payment for the house that you never had, or that you help them pay off someone's their debt, you know, or finance their lifestyle, or make sure they have newer, better cars. 00:14:21.840 --> 00:14:26.559 And I know you can make all kinds of excuses because you love those grandkids and what they're driving just isn't safe. 00:14:26.639 --> 00:14:28.240 And this is really to protect your grandkids. 00:14:28.320 --> 00:14:29.519 They need a better car. 00:14:29.679 --> 00:14:35.840 Before you do all those things, make sure you're not putting your own retirement at risk. 00:14:36.080 --> 00:14:38.639 Now, don't get me wrong, helping your kids is wonderful. 00:14:38.720 --> 00:14:40.639 Like I said, I've done it a lot. 00:14:40.799 --> 00:14:42.720 I've been doing it for many years now. 00:14:42.960 --> 00:14:45.840 I would rather them have it now than after I'm gone. 00:14:46.000 --> 00:14:47.600 Help them now when they need it. 00:14:47.840 --> 00:14:53.279 But I don't want you to do it and sacrifice your own financial independence. 00:14:53.600 --> 00:14:57.600 I heard this great advice from one of my mentors, Ed Slott, many years ago. 00:14:57.759 --> 00:15:04.399 The number one thing that you can do for your children is not become a financial burden to them in the future. 00:15:04.559 --> 00:15:05.519 And guess what? 00:15:05.679 --> 00:15:16.399 If you give away too much of your money right now, you very well might live long enough to where you run out of money or struggle with your finances or end up in some type of long-term care situation. 00:15:16.559 --> 00:15:23.679 And those kids you gave all your money away to might end up having to carry your financial burdens later in life. 00:15:23.919 --> 00:15:25.759 And you want to make sure that doesn't happen. 00:15:25.919 --> 00:15:27.440 So those are the first four. 00:15:27.600 --> 00:15:29.039 I can talk for forever, as you know. 00:15:29.120 --> 00:15:41.519 And I just want to say this here at the Ozarks Retirement Group, we are the longest running financial program in this area and almost in the country, go find a retirement planning show that's been on the radio for almost 20 years. 00:15:41.679 --> 00:15:45.279 We're 17 years in, almost 900 episodes in. 00:15:45.440 --> 00:15:46.480 We love what we do. 00:15:46.639 --> 00:15:54.399 If you're listening to us right now and you need help with your retirement income plan, your tax planning, your social security, your Medicare, we do it all. 00:15:54.559 --> 00:15:57.600 We have someone on our team for every one of those situations. 00:15:57.759 --> 00:16:02.799 People who are credentialed who have their financial designations to talk to you about those things. 00:16:03.120 --> 00:16:08.720 Just call us anytime, locally 417-581-9222. 00:16:09.200 --> 00:16:18.559 Or you can simply go to Ozarksretirement.com, click on the contact us button, and we'll get back in touch with you and set up a free financial consultation. 00:16:18.879 --> 00:16:29.360 Friends on the show today, we're talking about seven things that you need to think about spending your money

on before you pull the trigger on it if you're within five years of your retirement. 00:16:29.600 --> 00:16:32.720 Now, number one was buying a brand new luxury vehicle. 00:16:32.960 --> 00:16:37.039 Number two was going through major home remodels and repairs. 00:16:37.279 --> 00:16:47.919 Number three was making the decision to put things on your credit card, maybe a vacation, something that's mega expensive, that would mean you're gonna have to keep making those payments on into your retirement years. 00:16:48.080 --> 00:17:01.120 And number four was helping your adult children with their finances to the extent that it's going to affect your livelihood and your ability to live the type of retirement that you want to live. 00:17:01.279 --> 00:17:04.079 Now let's jump into five, six, and seven. 00:17:04.319 --> 00:17:04.960 Here we go. 00:17:05.119 --> 00:17:08.079 Number five, this is an important one. 00:17:08.480 --> 00:17:12.319 Speculative investments that you don't fully understand. 00:17:12.559 --> 00:17:17.599 You see, if your retirement's five years away, this isn't a time to swing for the fences. 00:17:17.680 --> 00:17:21.279 So when your buddy on the golf course says, hey, have you heard about XYZ stock? 00:17:21.359 --> 00:17:23.680 It's gonna be the greatest thing since sliced bread. 00:17:23.759 --> 00:17:26.000 It is definitely gonna double, might even triple. 00:17:26.160 --> 00:17:27.200 Or here's the other one. 00:17:27.359 --> 00:17:28.640 You can't lose on this one. 00:17:28.720 --> 00:17:29.839 It's a no-brainer. 00:17:30.240 --> 00:17:31.759 Hey, everybody's doing it. 00:17:31.920 --> 00:17:35.359 If you jump in on this and you hit a home run, you could retire right now. 00:17:35.519 --> 00:17:37.039 I mean, you've heard it all, right? 00:17:37.279 --> 00:17:41.839 I would advise you, if you're five years from retirement, to be very, very careful. 00:17:42.000 --> 00:17:46.160 Ed slot says retirees today aren't looking for the next hot stock. 00:17:46.240 --> 00:17:50.880 They're not looking for the next hot tip to try to take some big speculative risk or gamble. 00:17:51.119 --> 00:17:55.200 They want the return of their money, not the return on their money. 00:17:55.359 --> 00:17:57.440 They just want to know I'm not gonna lose my money. 00:17:57.519 --> 00:17:59.119 They don't want to see red figures. 00:17:59.279 --> 00:18:04.160 They want safety, guaranteed lifetime income, peace of mind. 00:18:04.319 --> 00:18:08.880 So this isn't the time to swing for the fences or do speculative things that you have no clue of. 00:18:09.039 --> 00:18:17.359 Hey, I heard some stories about which I confirmed that they were true, about local people who put their clients into some very speculative stuff here not too long ago. 00:18:17.440 --> 00:18:24.480 They got sued for it, and rightly so, they had to settle out of court because it paid them great returns. 00:18:24.559 --> 00:18:35.359 It helped their dividends to their paycheck, but

it wasn't great for the retirees, and those retirees, many of whom called us after it happened, lost hundreds of thousands of dollars. 00:18:35.519 --> 00:18:39.519 Because that advisor said, this is the next hot thing, you need to jump into this. 00:18:39.680 --> 00:18:46.079 And they did, and they lost not some of they lost all of their money. 00:18:46.319 --> 00:18:48.240 That's not what you need to have happen. 00:18:48.400 --> 00:18:50.880 When you're 35, swing for the fences. 00:18:51.039 --> 00:18:51.839 Take the risks. 00:18:52.000 --> 00:18:55.039 Or if you plan to work till you're 90, take the risk. 00:18:55.200 --> 00:18:56.799 But most of you don't want to do that. 00:18:56.960 --> 00:19:06.400 You want to retire at 62 or 65 or 67, and you don't have time to recover from a major loss. 00:19:06.799 --> 00:19:13.680 So, as retirement approaches, protecting what you've accumulated becomes just as important as growing it. 00:19:13.839 --> 00:19:15.680 You'll hear me say this on the show all the time. 00:19:15.759 --> 00:19:28.480 I have a lot of credible guests, nationally known guests, New York Times best-selling author guests who will say, as you get closer to retirement, it is not about accumulating anymore. 00:19:28.720 --> 00:19:32.079 Now we're going over the mountain and it's about coming back down. 00:19:32.160 --> 00:19:34.079 It's about decumulation. 00:19:34.240 --> 00:19:40.319 And if your financial professionals never talk to you about decumulation, if you don't know what that means, there's a problem there. 00:19:40.480 --> 00:19:43.200 It means they're only focused on how much they can make you. 00:19:43.279 --> 00:19:46.480 And their competitive nature is, I'll make you more than that person will. 00:19:46.640 --> 00:19:47.200 Stay with me. 00:19:47.279 --> 00:19:48.640 It's all about growth, growth, growth. 00:19:48.799 --> 00:19:56.160 Well, growth is great, except that with high growth comes high risk, and it can often mean periods of high losses. 00:19:56.400 --> 00:20:00.240 Hey, as I record this, the market's been really red for several days. 00:20:00.400 --> 00:20:01.920 There's a lot going on in the war. 00:20:02.240 --> 00:20:06.559 Diesel gas is over$6 a gallon, unleaded$4.50 a gallon. 00:20:06.640 --> 00:20:08.160 There's crazy things going on. 00:20:08.319 --> 00:20:12.160 The feds are messing with interest rates, and the market's saying, nope, I don't like it. 00:20:12.319 --> 00:20:15.839 And you're seeing your balances for the last 30 days in the red. 00:20:16.160 --> 00:20:19.440 And 2026 as a whole has not been fantastic. 00:20:19.680 --> 00:20:25.039 And so that's not something that feels great if you're 64, 65, 66 years old. 00:20:25.200 --> 00:20:27.920 Maybe it's time to not have everything at risk. 00:20:28.160 --> 00:20:30.559 So stay away from speculative investments. 00:20:30.799 --> 00:20:39.599 Here's number six a second home or a vacation property that you think you're going to use all the time.

00:20:39.839 --> 00:20:42.240 Now, I know you're like, Brad, I get it. 00:20:42.319 --> 00:20:51.440 I shouldn't be buying another home right now, five years from retirement, but man, it would be so much less expensive if I'd just buy this property and Airbnb it and get some rental income from it. 00:20:51.519 --> 00:20:53.119 And it's only 30 minutes away. 00:20:53.200 --> 00:21:00.960 I'm going to run down to Table Rock or I'm going to run up to Lake of the Ozarks, and I can just go and have free time, and I don't have to reserve anything anywhere. 00:21:01.039 --> 00:21:04.559 I don't have to pay those fees that are associated with resorts. 00:21:04.640 --> 00:21:07.759 And I can go do whatever I want and I own it. 00:21:07.920 --> 00:21:09.279 I'm going to love it. 00:21:09.519 --> 00:21:16.319 Well, we're going to talk more about what all comes with ownership of that later in the show, but I will say this. 00:21:16.559 --> 00:21:22.160 It sounds like a dream to buy that second home or that vacation property, but you need to think through it. 00:21:22.400 --> 00:21:25.359 That lake house, that cabin, that beach condo. 00:21:25.519 --> 00:21:27.039 Hey, maybe it is right for you. 00:21:27.200 --> 00:21:34.319 At one point in 2025, I owned three different farms with three different homes on them, plus the home I live in. 00:21:34.480 --> 00:21:36.000 I had four homes. 00:21:36.240 --> 00:21:38.079 Did I really need four homes? 00:21:38.400 --> 00:21:38.720 No. 00:21:38.960 --> 00:21:41.599 I have now consolidated all of that down, and I have two. 00:21:41.680 --> 00:21:44.720 I have one that I live in and one in my main farm. 00:21:45.039 --> 00:21:48.480 But I had all kinds of excuses for why it was great. 00:21:48.640 --> 00:21:54.079 There was rental income, farm income, CRP income, and there's a great way to justify all that. 00:21:54.160 --> 00:21:54.880 But guess what? 00:21:55.039 --> 00:21:58.000 Every one of those homes needed constant care. 00:21:58.240 --> 00:21:59.759 They had all kinds of things associated with. 00:22:00.160 --> 00:22:00.480 With it. 00:22:00.559 --> 00:22:13.599 Things like this: mortgage payments, property taxes, insurance, maintenance, utilities, HOA fees, uh, who's going to cut the grass at four and five different places? 00:22:13.759 --> 00:22:15.200 All kinds of things, right? 00:22:15.519 --> 00:22:19.599 So there's a potential amount of upkeep with all of those. 00:22:19.759 --> 00:22:24.720 Whether you hire it out or do it yourself, it's going to require a lot of your time and your effort and your energy. 00:22:24.880 --> 00:22:33.440 So before you buy that second property five years from your retirement, you need to ask yourself do I really need another property? 00:22:33.680 --> 00:22:38.799 Do I need this asset or this responsibility and this expense? 00:22:39.039 --> 00:22:42.559 And needing to have to constantly take care of something. 00:22:42.799 --> 00:22:44.880 Because remember, you are aging. 00:22:45.039 --> 00:22:46.400 You're not getting younger. 00:22:46.559 --> 00:22:50.160 You're getting older no matter what supplement companies have told you. 00:22:50.319 --> 00:22:51.680 You are not getting younger. 00:22:51.839 --> 00:22:52.160 Okay. 00:22:52.319 --> 00:22:55.279 No matter how great a shape you're in, and that's all very important. 00:22:55.680 --> 00:22:57.200 You are getting older. 00:22:57.279 --> 00:22:59.759 The wick on the candle is getting shorter, my friend. 00:22:59.920 --> 00:23:01.359 It's not going to burn forever. 00:23:01.599 --> 00:23:05.119 Do you need another place to have to go maintain, take care of, and pay for? 00:23:05.440 --> 00:23:12.480 So, retirement is supposed to give you more freedom, not another job of taking care of yet another property. 00:23:12.640 --> 00:23:14.000 So think through that. 00:23:14.160 --> 00:23:15.920 And here's the seventh thing. 00:23:16.079 --> 00:23:30.640 The seventh thing you should probably strongly consider not spending money on right before you retire in the five years before you retire is anything that locks up your money without a clear retirement purpose. 00:23:30.880 --> 00:23:38.240 You see, if you're within five years of retirement, you need to ask yourself a simple question before making any major financial decision. 00:23:38.400 --> 00:23:43.920 Here's the question: How does this purchase fit into my retirement income plan? 00:23:44.079 --> 00:23:52.480 You see, when you retire, it's not about how big your pot of money is, it's all about how much your monthly paycheck is that's coming in from different sources. 00:23:52.640 --> 00:23:55.599 Things like Social Security, pensions, or annuities. 00:23:55.759 --> 00:23:57.039 Those are the things that can come in. 00:23:57.119 --> 00:23:58.960 Now, rental income could be that. 00:23:59.039 --> 00:24:01.519 So, you know, I've had a lot of rental income from farms. 00:24:01.680 --> 00:24:04.240 That's farm rent that's come in or CRP income. 00:24:04.400 --> 00:24:05.039 That's part of it. 00:24:05.119 --> 00:24:06.880 It's not ever guaranteed. 00:24:07.119 --> 00:24:12.240 Renters move out, farmers go out of business, CRP contracts expire. 00:24:12.400 --> 00:24:20.480 So just make sure that asset that you're thinking is going to be part of your income, that it's really, really solid, that there's a long contract on it, that you've got great renters. 00:24:20.880 --> 00:24:31.200 But the things that are going to continue forever, hopefully, Social Security, pensions, and annuities, that's what it's about in retirement is how much monthly income do I have to live on? 00:24:31.519 --> 00:24:38.799 Before you make a purchase and you lock something up into a payment plan, you need to avoid questions like this. 00:24:39.119 --> 00:24:40.000 Can I afford it? 00:24:40.240 --> 00:24:43.440 Because a lot of people say, well, I can afford it, so it's okay. 00:24:43.599 --> 00:24:44.640 That's the wrong question. 00:24:44.799

--> 00:24:46.160 Here's another wrong question. 00:24:46.400 --> 00:24:48.880 Well, everybody else has one, so shouldn't I have one? 00:24:49.119 --> 00:24:50.319 It's not the right question. 00:24:50.480 --> 00:24:51.279 Here's another one. 00:24:51.440 --> 00:24:52.400 But don't I deserve it? 00:24:52.480 --> 00:24:54.000 I've worked hard and I'm about to retire. 00:24:54.160 --> 00:24:55.519 Don't I deserve it? 00:24:55.759 --> 00:25:03.119 Those aren't the kind of questions that you need to be asking yourself before you make a major purchase and lock your money up before retirement. 00:25:03.279 --> 00:25:05.119 Here's the right kind of question. 00:25:05.440 --> 00:25:09.519 How does this help me create the retirement that I want? 00:25:09.759 --> 00:25:12.640 Hey, it's all about living the retirement life of your dreams. 00:25:12.720 --> 00:25:23.279 So you need to ask before you make any major decision, especially financial ones, will this help me meet my retirement income planning goals that will help me live the retirement of my dreams? 00:25:23.599 --> 00:25:34.079 Because there's a huge difference between being able to afford something and being able to afford your life 20, 25, or maybe 30 years on down the road. 00:25:34.240 --> 00:25:40.160 And the decisions you make today will affect whether or not you can still afford your life 30 years down the road. 00:25:40.319 --> 00:25:46.000 So here's the bottom line: the five years before you retire aren't about depriving yourself. 00:25:46.160 --> 00:25:50.000 I'm not saying don't ever give yourself anything or don't ever do anything fun. 00:25:50.240 --> 00:25:53.440 It's about becoming intentional with your decisions. 00:25:53.759 --> 00:25:57.119 You spent decades earning and saving and building. 00:25:57.200 --> 00:26:00.319 Remember, we were in the accumulation phase. 00:26:00.559 --> 00:26:12.000 But now it's time to make sure the money that you've accumulated can do what you need it to do, which is provide income for the rest of your life, no matter how long that is. 00:26:12.240 --> 00:26:26.480 And for some of you listening right now, especially if you're a quote-unquote early retiree, anyone before age 65, if you're retiring at 55 or 60, you might have a 40 or 50 year retirement. 00:26:26.799 --> 00:26:31.359 So those decisions today are going to affect you way on into the future. 00:26:31.599 --> 00:26:33.839 You need to protect what you've worked for. 00:26:34.000 --> 00:26:35.759 You need to make it go to work for you. 00:26:35.920 --> 00:26:43.920 And most importantly, you need to have a plan in place for turning your savings into income that can support the life that you want to live. 00:26:44.160 --> 00:26:47.920 Because retirement isn't about just asking, how much money do I have? 00:26:48.079 --> 00:26:49.119 How much is in my pot? 00:26:49.279 --> 00:26:50.720 I've got 500 in my pot. 00:26:50.799 --> 00:26:51.839 How much is in your pot? 00:26:51.920 --> 00:26:53.440 Well, I've got 750 in my pot. 00:26:53.599 --> 00:26:56.559 Ooh, I've got seven figures over a million in my pot. 00:26:56.720 --> 00:26:58.880 It's not about how big the pot of money is. 00:26:59.119 --> 00:27:02.559 The better question is, how do I make this money last? 00:27:02.640 --> 00:27:11.039 No matter what the figure is, no matter how much it is, how do I make this money last and help me reach all of my retirement income goals? 00:27:11.200 --> 00:27:14.000 It's all about income in retirement. 00:27:14.319 --> 00:27:16.960 So, friends, let's do this. 00:27:17.680 --> 00:27:23.680 Let's think through what it is we do at our staff at our office for the retirees that we've helped. 00:27:24.000 --> 00:27:35.440 For almost 20 years now, 2,500 different people in more than 20 states, we've helped them figure out the before retirement decisions and the after retirement decisions. 00:27:35.680 --> 00:27:36.799 It takes both. 00:27:36.960 --> 00:27:45.839 You have to think through how you're spending your money before you pull the trigger on retirement, and you have to think about ahead of time how you're going to spend the money after retirement. 00:27:46.160 --> 00:27:48.960 Because we don't want you to ever worry about running out of money. 00:27:49.200 --> 00:27:54.240 You've worked hard your entire life to have the golden years, the retirement of your dreams. 00:27:54.400 --> 00:27:56.480 So we want you to have a blast doing it. 00:27:56.640 --> 00:28:04.000 We want you to go do everything you've always wanted to do, but we also want you to do those things without having to worry about running out of money. 00:28:04.160 --> 00:28:06.799 So you have to have budgeted for it and planned for it. 00:28:07.039 --> 00:28:12.079 We are retirement income certified professionals through the American College of Financial Services. 00:28:12.160 --> 00:28:23.359 And if you need our help mapping out the best retirement income plan for you and your family, just go to Ozarksretirement.com, click on contact us, and ask for a free financial consultation. 00:28:23.599 --> 00:28:27.519 I will personally reach back out to you and schedule that consultation. 00:28:27.599 --> 00:28:37.519 And when we meet, I'm going to give you a copy of my number one best-selling book, Bulletproof, the Safe and Secure Retirement Income Plan that I did edits and updates to in 2026. 00:28:37.680 --> 00:28:42.319 I'm also going to give you a copy of Gene Chatsky's book, The Forever Paycheck. 00:28:42.400 --> 00:28:48.000 That's going to go into great detail all of the retirement research behind what we're talking about today. 00:28:48.240 --> 00:28:55.119 All you have to do is call us at 417-581-9222 or go to Ozarksretirement.com. 00:28:55.279 --> 00:29:01.519 If you come and meet with us in person for a free financial review, I'll give you a copy of both these books absolutely free. 00:29:01.759 --> 00:29:14.640 Hey, we're going to walk back through the seven things, and I'm going

to tell some specific stories that will explain why these things are not only factual, but very, very important to pay attention to. 00:29:14.799 --> 00:29:25.200 So 417-5819222 or go to Ozarksretirement.com, click on the contact us button, and we'll get back in touch with you and set up a free financial consultation. 00:29:26.480 --> 00:29:37.359 Friends on the show today, we've been talking about seven things that you really need to think about spending your money on before you retire, especially if it's in the five years before you retire. 00:29:37.519 --> 00:29:45.440 And I want to go back through them quickly and just give you some difficult and some somewhat humorous and somewhat painful. 00:29:45.599 --> 00:29:52.880 There's going to be some of all of the above stories that will prove the point of why you need to think about spending money on these type of things. 00:29:53.200 --> 00:30:04.319 So, you know, I think the most applicable stories are ones that you've either experienced personally yourself, or maybe someone really close to you, because then you know that it's factual. 00:30:04.400 --> 00:30:06.400 It wasn't embellished, it wasn't made up. 00:30:06.559 --> 00:30:17.039 So the first thing that I suggested you should hold off on spending your hard-earned money on if you're within five years of retirement, is a brand new luxury vehicle. 00:30:17.279 --> 00:30:24.880 Now I'll say this my good friend, world-renowned economist Tom Hegna wrote a book a couple of years ago called Who Wants to Be a Millionaire. 00:30:25.039 --> 00:30:37.839 And many of you know I flew out to New York, actually went out to Long Island and was interviewed on one of the major television networks by Tom about how easy it is to become a millionaire in this country. 00:30:38.000 --> 00:30:40.799 Actually, I'll change that word because he says it's not easy. 00:30:40.880 --> 00:30:44.079 It's one of the hardest things you'll ever do, but it is simple. 00:30:44.319 --> 00:30:45.519 And I would agree with that. 00:30:45.759 --> 00:30:50.079 You'll have to work so hard and be so disciplined and get up earlier than everyone else. 00:30:50.160 --> 00:30:51.440 There's something called the 5 a.m. 00:30:51.599 --> 00:30:52.079 miracle. 00:30:52.240 --> 00:30:55.039 My kids are always teasing me about why I'm in bed at 9 o'clock. 00:30:55.119 --> 00:31:04.640 That's because I'm up before 5 a.m., normally 4:30 every day, and why I've done what I've done for many, many years to become a multi, multi, multi, multi-millionaire. 00:31:04.799 --> 00:31:09.359 It happened not because it was easy, but it was simple. 00:31:09.680 --> 00:31:11.839 Follow these simple steps and guidelines. 00:31:12.000 --> 00:31:16.480 Work harder than other people, work smarter than other people, and you will live the life of your dreams. 00:31:16.640 --> 00:31:27.119 And when he interviewed me about who wants to be a millionaire, he said, there are two things I ask everyone to follow, two principles that will help them on this simple journey to becoming a millionaire. 00:31:27.200 --> 00:31:33.839 Or if you want to become a 10 times over millionaire, or 20 or 50, whatever it is, here's how you can do it. 00:31:34.079 --> 00:31:35.519 Avoid two things. 00:31:35.759 --> 00:31:40.000 Number one, purchasing brand new vehicles. 00:31:40.160 --> 00:31:42.400 And number two, getting divorced. 00:31:42.559 --> 00:31:44.319 And here's Tom who's worth millions. 00:31:44.400 --> 00:31:53.039 And he says, I have only purchased one new car in the last several years, and one of them was because his wife deserved it, because they were about to retire. 00:31:53.200 --> 00:31:55.680 You know, Tom's 65 years old now. 00:31:55.920 --> 00:32:03.039 He recently talked about the pain of experiencing IRMA for the first time, income-related monthly adjustment amounts. 00:32:03.279 --> 00:32:10.559 He turned 65, and that's why I'm always talking about you better start paying attention to your income at age 63. 00:32:10.640 --> 00:32:17.359 And Tom is now 65, and he's finding out, oh, that income I made two years ago affected my Medicare premiums. 00:32:17.519 --> 00:32:19.039 That's where Tom's at in life. 00:32:19.119 --> 00:32:23.119 And he said his wife watched him travel all these years, go all over the country. 00:32:23.279 --> 00:32:24.240 She deserved a new car. 00:32:24.400 --> 00:32:25.359 He bought her a new car. 00:32:25.519 --> 00:32:33.759 But through all their military years, all of his years at New York life, all of his years as an independent public speaker, all the things he's done, he always bought used vehicles. 00:32:34.160 --> 00:32:36.480 Second thing, of course, is don't give away half your money. 00:32:36.559 --> 00:32:40.640 And many of you have given away half your money once or twice or three times a lady, right? 00:32:40.720 --> 00:32:41.759 Um don't do that. 00:32:41.839 --> 00:32:46.720 It's hard to become financially independent if you keep have handing your money away. 00:32:46.960 --> 00:32:48.559 But let's go back to this new car. 00:32:48.720 --> 00:32:50.319 I want to tell you a story. 00:32:50.559 --> 00:32:54.559 You know, recently I said earlier in the show, I purchased two new vehicles. 00:32:54.720 --> 00:32:56.319 I don't always purchase new vehicles. 00:32:56.400 --> 00:33:02.720 I bought a lot of programmed vehicles, used vehicles, but I don't know if you've paid attention in 2026. 00:33:02.880 --> 00:33:07.839 If this is your come to Jesus light bulb moment, I'm thankful to give it to you. 00:33:07.920 --> 00:33:11.440 But have you done the research on what's going to happen in 2027? 00:33:11.680 --> 00:33:15.119 Do you know what's going to happen to every vehicle in 2027? 00:33:15.440 --> 00:33:22.880 My personal opinion is those in control of this country are going to crash the automotive industry. 00:33:23.119 --> 00:33:27.519 Because in 2027, just go look at one if you want factual confirmation.

00:33:27.759 --> 00:33:36.240 There are going to be programs and software and camera eyes in all of the vehicles, and they're going to surveil you 24-7. 00:33:36.720 --> 00:33:49.839 Now, friends, this show isn't about that, and I could just jump off on that bandwagon and get really upset and angry and fired up and talk for hours about how I'm sick and tired of the federal government following us everywhere we go. 00:33:50.000 --> 00:33:52.880 The flock cameras and everything under the sun. 00:33:53.200 --> 00:33:55.839 Hey, my cell phone is over in the corner of the room right now. 00:33:55.920 --> 00:34:02.079 And when we get done recording this show, I will have pop-up ads and videos about things I'm talking about right now. 00:34:02.240 --> 00:34:02.559 Why? 00:34:02.720 --> 00:34:08.159 Because it watches us everywhere we go, it listens to everything we say, and like I said, that's a whole other show. 00:34:08.320 --> 00:34:12.320 But in 2027, you are going to be watched all the time. 00:34:12.400 --> 00:34:14.480 There will be a kill switch in your car. 00:34:14.559 --> 00:34:16.639 They can shut your car down anytime they want to. 00:34:16.719 --> 00:34:24.480 And if they think you're doing something you shouldn't do, or if you're looking at your phone too much, or if they think you're inebriated, they will kill switch your vehicle. 00:34:24.639 --> 00:34:26.800 If you don't believe me, do your research, okay? 00:34:27.039 --> 00:34:30.400 But here's the thing: I don't want to live in that world. 00:34:30.639 --> 00:34:38.639 So in 2026, I decided to trade in a truck that I love, only had 60,000 miles on it. 00:34:38.719 --> 00:34:40.320 I would have driven it till the wheels fell off. 00:34:40.480 --> 00:34:41.199 I love it. 00:34:41.360 --> 00:34:54.159 But I traded it because I wanted to get in a newer vehicle that was not five years old, that didn't have any miles on it, and I wanted it to last 10, 15 years down the road and not have surveillance in it. 00:34:54.320 --> 00:34:56.639 And that's what's going to happen in 2027 and beyond. 00:34:56.719 --> 00:35:06.559 So I traded my truck for a new truck, and I went and purchased a second vehicle because I've got these beautiful little grandchildren that I drive around Sunday afternoons. 00:35:06.800 --> 00:35:15.599 We love to go to the mall and go to the food court and we get french fries and cheese, bacon French fries and cheese, and we play in the play center and we do all kinds of things. 00:35:15.679 --> 00:35:20.639 And I tote the grandkids around and I got a secondary vehicle for that, a brand new one. 00:35:20.880 --> 00:35:22.559 Why did I pay the expense now? 00:35:22.719 --> 00:35:25.599 Well, number one, I'm not five years away from retirement. 00:35:25.679 --> 00:35:28.239 I'm going to work much longer into the future. 00:35:28.400 --> 00:35:32.159 But I did want vehicles that lasted at least 10 years and maybe 15. 00:35:32.239 --> 00:35:34.000 I take great care of my vehicles. 00:35:34.159 --> 00:35:43.599 So let me tell you a story about how painful it can be when you go purchase a new vehicle instead of going the used route and what can happen. 00:35:44.239 --> 00:35:50.800 I know a guy, it happens to be me, who did a lot of research on the vehicle they were going to buy. 00:35:50.960 --> 00:35:51.920 More than a month. 00:35:52.079 --> 00:35:55.599 I looked everywhere to try to find a vehicle that would replace the type of truck I have. 00:35:55.679 --> 00:35:58.639 Now, if you've listened to me for a long time, you know I own farms. 00:35:58.800 --> 00:36:00.559 I own a beautiful farm out in Kansas. 00:36:00.719 --> 00:36:03.599 I drive three hours one way every other weekend. 00:36:03.760 --> 00:36:10.159 That's going to come up later when we talk about whether or not you need that second property because it's a commitment to have other properties. 00:36:10.320 --> 00:36:14.559 It takes your time, your money, your expense, maintenance, and issues. 00:36:14.880 --> 00:36:24.079 And because I drive that much, I wanted a new vehicle, one that was set up the way I want it to be, that accomplishes pulling the trailers and doing all the different things I do on my farm. 00:36:24.239 --> 00:36:26.559 And I finally found one after a month. 00:36:26.719 --> 00:36:30.480 And on this one, I was going to have to drive up to California, Missouri. 00:36:30.559 --> 00:36:32.320 Did you know there was a California, Missouri? 00:36:32.480 --> 00:36:33.119 I didn't. 00:36:33.280 --> 00:36:39.760 But I got to drive up north of Lake of the Ozarks on a two-lane, no shoulder, curvy, winding up and down road. 00:36:39.840 --> 00:36:40.480 And guess what? 00:36:40.639 --> 00:36:45.920 The day that I did it was the first time it had rained on me in 40 days. 00:36:46.159 --> 00:36:52.639 You ever driven on wet pavement pavement that you've not driven on before with no shoulder curving here and there? 00:36:52.800 --> 00:36:56.480 I came up over one hill driving a little too fast because I didn't know the road. 00:36:56.559 --> 00:36:59.519 I wasn't speeding, but boy, it was a sharp hairpin turn. 00:36:59.599 --> 00:37:01.519 And I just about came off the road. 00:37:01.679 --> 00:37:03.360 Thankfully, I made it safely there. 00:37:03.440 --> 00:37:12.239 So when I picked up this brand spanking new truck that had 170 miles on it, I decided I'm going to take the long route home. 00:37:12.400 --> 00:37:22.639 I'm going to drive back down Highway 65, go through Sedelia and down through Warsaw where my daughter lives, and come back down through all that side of town and just take it easy and enjoy the new vehicle. 00:37:22.719 --> 00:37:27.360 And I did, and I'd already pre-set up to go to a place that I've loved over the years. 00:37:27.440 --> 00:37:36.800 I've taken five different trucks to this location to have them put on a brush guard up front because everywhere I go, deer jump the road and they'll jump right into your vehicle

and commit suicide. 00:37:36.880 --> 00:37:37.360 Did you know that? 00:37:37.519 --> 00:37:38.079 They do. 00:37:38.239 --> 00:37:42.239 And so I put a brush cart on the front and I put a tailgate cover on the back. 00:37:42.480 --> 00:37:44.639 Spent four grand to do it. 00:37:44.800 --> 00:37:51.760 I bought the vehicle, I'd driven it one time, drove it to the place and dropped it off and left it for 24 hours. 00:37:52.000 --> 00:37:53.760 It was going to actually just be about eight hours. 00:37:53.840 --> 00:37:58.719 I dropped it off that morning and pick it up that afternoon to have them put on the brush cart and have them put on the tailgate cover. 00:37:58.800 --> 00:38:02.719 And when I got back to pick it up, I paid for it. 00:38:02.960 --> 00:38:04.880 $4,000 plus dollars. 00:38:05.119 --> 00:38:08.800 Walked out to step into the vehicle, and guess what? 00:38:09.039 --> 00:38:20.320 Waiting on me right in front of me when I reached up to put my hand on the driver's side handle was three big scratches all the way down to the metal. 00:38:20.480 --> 00:38:24.079 Looked like someone took a key and just jagged it right up the side. 00:38:24.239 --> 00:38:26.559 And one off one way and one off another way. 00:38:26.719 --> 00:38:29.679 I literally almost puked right there in the parking lot. 00:38:29.760 --> 00:38:31.280 And I thought, you've got to be kidding me. 00:38:31.360 --> 00:38:34.559 And I walk back inside and normally, oh, like I said, over five vehicles. 00:38:34.639 --> 00:38:37.760 I've spent more than 25 grand fixing up my vehicles over the years. 00:38:37.840 --> 00:38:38.559 They do a great job. 00:38:38.639 --> 00:38:43.599 I go in and I say, Hey, uh man, you guys really messed my vehicle up. 00:38:43.679 --> 00:38:45.119 And they're like, What are you talking about? 00:38:45.280 --> 00:38:52.159 And they come out and they look at it, and I've known the owner for a long time, and he looks at me and says, one of the most unexpected things I've ever heard anyone say to me. 00:38:52.239 --> 00:38:54.719 He said, Well, how do you know we did it? 00:38:54.960 --> 00:38:57.199 And I looked at him and said, Are you kidding me? 00:38:57.440 --> 00:38:59.519 I just got the truck yesterday. 00:38:59.760 --> 00:39:02.320 I parked it in my garage and drove it to you this morning. 00:39:02.400 --> 00:39:11.119 And are you suggesting that I wouldn't have noticed that those scratches and scars were there on my brand new vehicle when I brought it to you and dropped it off this morning? 00:39:11.519 --> 00:39:12.880 You 100% did it. 00:39:12.960 --> 00:39:14.559 They were not here this morning. 00:39:14.800 --> 00:39:17.519 Now I'm a smart person, above average intelligence. 00:39:17.599 --> 00:39:19.199 I know they have cameras inside. 00:39:19.440 --> 00:39:21.039 I know they know when they did it. 00:39:21.199 --> 00:39:24.880 I know they can play the tapes back and find out who did it and when it happened. 00:39:24.960 --> 00:39:26.719 So don't insult my intelligence. 00:39:26.960 --> 00:39:31.920 We went inside to talk about it, and there were a couple of people in there, and they wouldn't make eye contact with me. 00:39:32.159 --> 00:39:34.719 They wouldn't because they felt so bad about what happened. 00:39:34.880 --> 00:39:36.559 Just tell the truth in today's world. 00:39:36.719 --> 00:39:38.000 Just be honest, just own it. 00:39:38.079 --> 00:39:40.079 And they said, Well, I mean, I get it. 00:39:40.400 --> 00:39:41.519 You probably would have noticed it. 00:39:41.599 --> 00:39:42.639 So we'll make it right. 00:39:42.800 --> 00:39:43.519 We'll make it right. 00:39:43.599 --> 00:39:45.119 So guess what that turned into? 00:39:45.519 --> 00:39:47.519 A really long story, made short. 00:39:47.679 --> 00:39:52.639 It was 15 till 5 on a Friday afternoon when I picked up that vehicle. 00:39:52.719 --> 00:39:54.559 I dropped it off there on a Friday. 00:39:54.800 --> 00:39:57.760 I did my research over the weekend on Monday morning. 00:39:57.920 --> 00:40:01.679 I went to five different dealerships, got five different quotes. 00:40:01.840 --> 00:40:07.440 They suggested I use their painter, their person, and I learned all kinds of things about what it was going to take. 00:40:07.599 --> 00:40:09.599 Unfortunately, they were going to have to take the door off. 00:40:09.760 --> 00:40:12.400 They were going to have to take all the paneling off around the windows. 00:40:12.480 --> 00:40:15.119 Those are one-time use window panelings. 00:40:15.280 --> 00:40:17.199 So they were going to have to order in new parts. 00:40:17.360 --> 00:40:26.960 It was going to be anywhere from$1,200 to$1,500 and leave my brand new vehicle for three to five days and hope that it matches the rest of the paint. 00:40:27.199 --> 00:40:29.119 It was not a pleasant experience. 00:40:29.360 --> 00:40:31.920 It did not go smoothly. 00:40:32.079 --> 00:40:35.519 We had all kinds of things happen, all kinds of issues happen. 00:40:35.760 --> 00:40:42.000 Depending on how you take a door off and how you do repair to a vehicle, it can go on Carfax immediately. 00:40:42.079 --> 00:40:52.480 So my brand new, less than 200 miles vehicle that has already taken the depreciation the second I drove it off the lot now has gone through repair. 00:40:52.719 --> 00:40:54.320 Not a fun situation. 00:40:54.800 --> 00:40:58.320 Personally, I think the business should have said, hey, this one's on us. 00:40:58.480 --> 00:41:06.559 Not only are we going to make it right and obviously pay for what we did to your brand new vehicle, but we don't think you should pay$4,000 for what you did. 00:41:06.719 --> 00:41:09.039 Here's a check back for whatever. 00:41:09.199 --> 00:41:09.760 What's it worth? 00:41:09.920 --> 00:41:11.119 Two grand, three grand? 00:41:11.519 --> 00:41:17.599 What's it worth for your brand new, new car experience to have it be completely ruined? 00:41:17.760 --> 00:41:22.719 I drove home that

Friday afternoon with that brand new vehicle, parked it in my garage and didn't show anyone. 00:41:22.800 --> 00:41:23.599 I didn't call anyone. 00:41:23.679 --> 00:41:27.280 I didn't have Hunter come out and say, hey son, come look at my sweet new ride. 00:41:27.440 --> 00:41:28.320 I didn't tell anyone. 00:41:28.400 --> 00:41:29.599 I was sick at my stomach. 00:41:29.679 --> 00:41:31.360 It was a horrible experience. 00:41:31.519 --> 00:41:35.280 They ruined the new car buying experience for me. 00:41:35.519 --> 00:41:41.360 And then didn't make it right because they didn't offer to pay me back anything except the labor. 00:41:41.679 --> 00:41:42.320 $400. 00:41:42.639 --> 00:41:45.760 We don't think you should have to pay for the labor because it's our mistake. 00:41:46.000 --> 00:41:55.119 Well, what about the 12 different trips I made back and forth to dealerships and back out to you and having it reviewed and having it dropped off? 00:41:55.280 --> 00:41:57.840 How about the week that I spent without my brand new vehicle? 00:41:58.000 --> 00:42:01.440 How about the fact that it's now damaged on paper and on Carfax? 00:42:01.679 --> 00:42:02.559 How about all those things? 00:42:02.639 --> 00:42:03.280 What's that worth? 00:42:03.440 --> 00:42:05.199 By the way, do you know what my time is worth? 00:42:05.360 --> 00:42:06.639 Like what I make an hour? 00:42:06.800 --> 00:42:15.760 And I've spent probably 15 to 20 hours working on this, but there was no remuneration or payment or heartfeltfelt sorrow for what I'd been through. 00:42:15.920 --> 00:42:21.519 It was just the simple thought process of, well, hey, we realize we did it. 00:42:21.679 --> 00:42:22.559 We'll make it right. 00:42:22.639 --> 00:42:25.679 And to them, making it right means they'll just pay for the damage repair. 00:42:25.840 --> 00:42:30.320 I'm sorry, friends, I come from a very, very different mentality. 00:42:30.480 --> 00:42:31.280 Very different. 00:42:31.440 --> 00:42:34.159 Do you, what do you think would have been the right thing to do? 00:42:34.320 --> 00:42:38.480 Well, the reason I tell you this long story on the show today is to just say this. 00:42:38.719 --> 00:42:47.599 If that vehicle had 60,000 miles on it, like the one I traded in that did have some dings in it, you know, I do a lot of stuff on the farms with my truck. 00:42:47.760 --> 00:42:55.440 If it had, if I had seen that scratch, those four scratches on my truck that had 60,000 or 80,000 or 100,000 miles, not a big deal. 00:42:55.519 --> 00:42:57.920 It's part of what you live with when you have a used vehicle. 00:42:58.079 --> 00:43:10.880 But when you go buy that new luxury vehicle for the smell and the feel and all that, you don't love it when one day in someone scars it and scratches it, and you have to put it in the body shop and have them repaint it. 00:43:11.199 --> 00:43:24.480 So there are a lot of reasons why a brand new luxury vehicle that in this case cost 82 grand plus aftermarket stuff on it, not a good thing to do when you're five years away from retirement. 00:43:24.639 --> 00:43:24.960 Okay? 00:43:25.519 --> 00:43:27.360 Now let's talk about one more. 00:43:27.599 --> 00:43:34.000 One of the other things on this list of seven things, you know, number one thing that you probably shouldn't spend your money on for lots of reasons. 00:43:34.079 --> 00:43:42.320 I just shared a long story about one of the reasons why you don't want a brand new vehicle with all the risks that can come with it is a luxury vehicle. 00:43:42.480 --> 00:43:53.920 Then there is the major repair to your home that many of you know you might do all those repairs, and then you live in the Ozarks and a tree falls in on your roof, or there's hail damage or wind damage or all kinds of things. 00:43:54.000 --> 00:43:57.920 So you spend all that money and then boom, it gets destroyed right after that, anyway. 00:43:58.079 --> 00:43:59.760 Maybe it's not worth the investment of putting that. 00:44:00.159 --> 00:44:01.039 Kind of money into it. 00:44:01.280 --> 00:44:03.360 Then there's taking on credit card debt. 00:44:03.440 --> 00:44:07.360 Now I got some fun facts for us today in the moments that are left. 00:44:07.760 --> 00:44:11.519 How many retirees retire with credit card debt today? 00:44:11.760 --> 00:44:23.440 Ages 65 to 74, about 42% of adults carry credit card debt with an average balance in 2026 of almost$7,000. 00:44:24.000 --> 00:44:29.760 $6,659 a year is the average retiree credit card expenditure. 00:44:30.000 --> 00:44:31.280 Well, what does that mean? 00:44:31.519 --> 00:44:36.800 You got$5,000 to 74-year-olds who are retiring with about$7,000 of credit card debt. 00:44:36.960 --> 00:44:37.599 What does this mean? 00:44:37.679 --> 00:44:44.719 Well, if it's$2% APR, that means on$5,000,$92 a month in interest alone. 00:44:44.880 --> 00:44:49.679 If it's$10,000, that's$183 a month on interest alone. 00:44:49.920 --> 00:44:55.199 If it's$15,000,$275 a month in interest alone. 00:44:55.679 --> 00:45:01.760 If it's$20,000, maybe you gave those kids that loan, you gave them some money, you put it on a credit card. 00:45:01.840 --> 00:45:04.719 That's another one of the things we talk about on our no-no list here today. 00:45:04.960 --> 00:45:11.440 That's$367,000 a month in interest alone. 00:45:12.079 --> 00:45:14.000 So not great decisions. 00:45:14.400 --> 00:45:17.280 Then you got number four, helping adult children with their expenses. 00:45:17.360 --> 00:45:19.199 Maybe that's what you put on your credit card. 00:45:19.360 --> 00:45:20.960 You've got number five. 00:45:21.760 --> 00:45:23.039 What was number five? 00:45:23.280 --> 00:45:26.639 Speculative investments that you don't fully understand. 00:45:26.960 --> 00:45:34.079 Number six, a second home or vacation property that you think you're going to use all the time. 00:45:34.320 --> 00:45:38.480 Like I've said, I've owned multiple farms in multiple states, multiple homes.

00:45:38.719 --> 00:45:40.639 The grass always has to be cut. 00:45:40.800 --> 00:45:41.840 The weeds don't stop. 00:45:41.920 --> 00:45:44.559 Hey, we were in a massive drought this year, and guess what? 00:45:44.639 --> 00:45:49.440 You still have to go mow those weeds and weed eat, and there's all kinds of things that have to be done. 00:45:49.599 --> 00:45:50.960 So you better make sure on that. 00:45:51.039 --> 00:45:58.639 And then the last one, the seventh thing, was spending money right before you retire on things that can lock up your money. 00:45:58.800 --> 00:46:03.119 Now, as we close today, I'll tell you a story about my dad I shared years ago. 00:46:03.360 --> 00:46:06.719 My dad, at the end of his life, did what a lot of retirees do. 00:46:06.880 --> 00:46:10.800 They use all these justifications for, well, I really need this and I deserve this. 00:46:10.960 --> 00:46:13.280 And we were always going to, but we never did. 00:46:13.360 --> 00:46:15.119 And all those things came into play. 00:46:15.199 --> 00:46:18.480 So my dad broke the rules on number seven. 00:46:18.719 --> 00:46:27.519 Right before retirement, he made major expense purchases on things that locked up money and required payments on into retirement. 00:46:27.679 --> 00:46:35.360 He bought a great big brand new mobile home and he bought a brand new truck to pull that mobile home with. 00:46:35.519 --> 00:46:37.199 Now, here's the thing about my father. 00:46:37.360 --> 00:46:38.719 He was a country boy. 00:46:38.960 --> 00:46:48.079 When he left Branch, Arkansas at age 18 to go to college to be head of the ROTC at Arkansas Tech University and joined the military. 00:46:48.239 --> 00:46:50.320 He said, I've been a country boy my whole life. 00:46:50.400 --> 00:46:51.840 I'm going to be a city boy from now on. 00:46:51.920 --> 00:46:59.519 And from 18 to age 77, when he passed away, he was a city slicker, not a country boy. 00:46:59.679 --> 00:47:02.239 Guess how many trailers he pulled during those years? 00:47:02.480 --> 00:47:04.400 The answer resembles an egg. 00:47:04.719 --> 00:47:05.360 Zero. 00:47:05.760 --> 00:47:06.960 He can't back a trailer. 00:47:07.119 --> 00:47:15.280 One of the funniest things I've ever witnessed in my life was watching my father try to back a trailer, and I had him hop in my truck and back it up just to watch him do it. 00:47:15.440 --> 00:47:21.199 And you, if you've ever seen someone jackknife a trailer, it's the funniest thing in the world, is if it's not dangerous and out on a road. 00:47:21.280 --> 00:47:22.079 It was at my farm. 00:47:22.239 --> 00:47:23.119 He could not do it. 00:47:23.280 --> 00:47:25.039 He would turn it one way and then the other way. 00:47:25.119 --> 00:47:27.519 And I said, Dad, what are you doing? 00:47:27.840 --> 00:47:29.840 You're 77 years old. 00:47:30.000 --> 00:47:35.039 You're buying a trailer that you're never going to pull. 00:47:35.199 --> 00:47:47.280 He had to call my mom's younger brother, the

dairy farmer, and have him drive to Fayetteville, Arkansas to pick up this RV with his brand new$100,000 truck that he had to upfit and outfit to pull it. 00:47:47.440 --> 00:47:58.719 And they pulled it to Barling, Arkansas, outside of Fort Smith, Arkansas, where they parked it and paid$350 a month to leave it parked because my dad's health was declining. 00:47:58.880 --> 00:48:04.400 This was one of those purchases that he thought was going to make him younger and they were going to take these trips all over the country. 00:48:04.559 --> 00:48:07.840 They never drove that RV anywhere. 00:48:08.079 --> 00:48:20.400 And when my dad passed away much sooner than we expected, my mother was left with a$350 a month payment to the place that stored the RV. 00:48:20.800 --> 00:48:30.960 She was left with$150,000 less in her retirement accounts because dad spent$100 on the truck and$50,000 on the RV. 00:48:31.039 --> 00:48:37.840 And so we now had a truck to sell and an RV to sell, and we had a payment to get rid of where we were parking that RV. 00:48:38.079 --> 00:48:48.079 Overall, when it was said and done, it cost us about$10,000 in losses to sell off those vehicles, the vehicle and the RV that were never used, they were never driven anywhere. 00:48:48.400 --> 00:48:52.559 And of course, we were able to stop that$350 a month payment. 00:48:52.800 --> 00:48:55.440 But it was a bad decision. 00:48:55.760 --> 00:49:06.880 So, friends, as we share these stories today, and I hope it helps when you hear real stories from my own life, things that have happened to me and to my father, my family, my mother. 00:49:07.280 --> 00:49:09.920 There's a reason why we suggest the things we suggest. 00:49:10.079 --> 00:49:17.519 When we say there are seven things in life that you probably ought to pump the brakes on before you spend the money if you're within five years of retirement, there's a reason why. 00:49:17.679 --> 00:49:28.239 We've watched it either happen to us, family members, or our more than 2,000 retirees all across the country in more than 20 states who have said, Hey, Brad, you know, I really thought this was a great decision. 00:49:28.320 --> 00:49:35.519 So I bought this Lake House, I bought this RV, I bought this XYZ that I never drove, I never used, I couldn't sell it, I lost a lot of money. 00:49:35.599 --> 00:49:45.679 And if I would have left that in my retirement account, if I would have known I was going to pass away five years later and this was going to create financial burdens on my spouse, I wouldn't have done it. 00:49:45.840 --> 00:49:52.000 So we're just sharing the things with you like this on the show today that will help you think through whether or not it's something you should do. 00:49:52.159 --> 00:49:54.400 So I offer you this as we close the show. 00:49:54.639 --> 00:50:01.599 If you're about to retire, you're within five years, and you have a financial question that you want to ask, just call us. 00:50:01.840 --> 00:50:04.639 Email me, Brad at Ozarksretirement.com. 00:50:04.800 --> 00:50:07.920 Call us at 417-581-9222. 00:50:08.000 --> 00:50:09.599 Here's what I will commit to you. 00:50:09.679 --> 00:50:10.800 I do this for everyone. 00:50:10.960 --> 00:50:18.400 I will learn your specific financial situation, what your bills are, what your outflow is, what your income needs are. 00:50:18.559 --> 00:50:28.159 We can talk about what your retirement income is going to be like, and then you can say, hey, I'm thinking about trying to justify buying this home or this car or this RV or this whatever. 00:50:28.400 --> 00:50:31.039 And I need to know whether or not you think it's good advice. 00:50:31.119 --> 00:50:33.599 As a financial professional, would this be a good decision? 00:50:33.760 --> 00:50:34.800 We'd love to help. 00:50:34.960 --> 00:50:36.320 We'll tell you the truth about it. 00:50:36.480 --> 00:50:41.039 And it may be yes for some of you, and for some of you, it's going to be, I don't think that would be a great decision. 00:50:41.119 --> 00:50:46.559 But trust me, the decisions you make today are going to impact you long into the future. 00:50:46.719 --> 00:51:01.679 So, friends, make wise financial decisions, not emotional decisions, decisions that are based on math and science and providing the type of income that not only you need, but that your spouse is going to need long after you're gone. 00:51:01.920 --> 00:51:04.239 Friends, this is what we do all day long, every day. 00:51:04.400 --> 00:51:06.800 We are retirement income certified professionals. 00:51:06.880 --> 00:51:16.480 And if we can help in any way, just call us at 417-581-9222 or go to Ozarksretirement.com and click on contact us. 00:51:20.400 --> 00:51:22.719 Thank you for joining us on the show this week. 00:51:22.880 --> 00:51:32.000 I've hosted more than 850 retirement planning shows over the past two decades, and I look forward to bringing you new shows every single week. 00:51:32.400 --> 00:51:40.000 So join us each week right here for the Ozarks Retirement Show, and don't forget to subscribe to the podcast on Apple and Spotify. 00:51:40.159 --> 00:51:41.920 That way you'll never miss a show. 00:51:42.079 --> 00:51:48.159 We want to help all of you develop a plan that's bulletproof so you can step into a safe and secure future. 00:51:48.400 --> 00:51:50.079 Have a great week. 00:52:14.320 --> 00:52:23.679 Optional lifetime income benefit writers are used to calculate lifetime payments only and are not available for cash surrender or in a death benefit unless specified in the annuity contract. 00:52:23.920 --> 00:52:25.119 Fees may apply. 00:52:25.360 --> 00:52:29.599 Guarantees are based on the financial strength and claims paying ability of the insurance company. 00:52:29.760 --> 00:52:34.880 No information presented today should be acted upon without meeting with a qualified and licensed professional. 00:52:35.119 --> 00:52:40.159 Obviously, by calling us now, you are just taking the first step towards protecting your retirement. 00:52:40.320 --> 00:52:45.360 It's important that you read all insurance contract disclosures carefully before making a purchase decision. 00:52:45.519 --> 00:52:49.599 Rates and returns mentioned on this program are subject to change without notice.