WEBVTT
1
00:00:06.650 --> 00:00:15.029
Hey folks. Uh, thanks for joining. This is the more
2
00:00:15.050 --> 00:00:17.489
money show. I hope you're having a wonderful weekend, by
3
00:00:17.530 --> 00:00:19.170
the way, if you're just joining, we had a really
4
00:00:19.210 --> 00:00:23.859
fascinating conversation with Steve Delbianco, uh, talking about the future
5
00:00:23.899 --> 00:00:28.230
of AI, the future of data centers, uh, uh, in about, uh,
6
00:00:29.019 --> 00:00:30.980
Before the top of the hour, we'll take a few
7
00:00:31.000 --> 00:00:33.119
of your calls. I want to hear from you. What
8
00:00:33.140 --> 00:00:35.679
do you think about this? Are you more afraid or
9
00:00:35.840 --> 00:00:41.039
more excited about this data center AI future? I'm excited
10
00:00:41.100 --> 00:00:43.140
about it. I think it's going to be so transformative,
11
00:00:43.179 --> 00:00:45.539
make life on Earth so much better. But I know
12
00:00:45.600 --> 00:00:48.320
many people have very different opinions. So if you want
13
00:00:48.380 --> 00:00:51.340
to join that conversation, 1-800-848-9222 is the more money hotline
14
00:00:51.359 --> 00:01:05.480
that's 1-800-848-9222 or 1-800-848-WABC. But in the meantime, I want
15
00:01:05.519 --> 00:01:08.959
to bring back one of the popular guests that we
16
00:01:09.000 --> 00:01:13.099
have often on the show because we always learn so
17
00:01:13.140 --> 00:01:15.680
much about how to make more money from Jay Jackson
18
00:01:16.040 --> 00:01:18.500
from Abacus. Jay, thanks for joining again.
19
00:01:19.599 --> 00:01:21.609
Yeah, awesome. Great to be here. Say hi to everybody
20
00:01:21.640 --> 00:01:22.430
for me. Love it.
21
00:01:23.590 --> 00:01:29.079
So Jay is an expert on how you can plan for,
22
00:01:29.159 --> 00:01:31.500
you know, you're perfect for me, Jay, because I'm 66
23
00:01:31.500 --> 00:01:32.859
and I'm trying to figure out what do I do
24
00:01:32.900 --> 00:01:35.540
with my finances? What do I do with my insurance premiums?
25
00:01:35.620 --> 00:01:37.859
All of this stuff. You know, we have an audience
26
00:01:37.920 --> 00:01:41.140
that's mostly in their 50s, 60s, 70s trying to figure
27
00:01:41.180 --> 00:01:44.780
this stuff out. And your firm, Abacus, is really an
28
00:01:44.859 --> 00:01:49.439
expert on guiding Americans through this labyrinth So you can
29
00:01:49.500 --> 00:01:52.980
make as much money as you can in your retirement years,
30
00:01:53.040 --> 00:01:56.950
but also save money for your kids and grandkids and
31
00:01:56.989 --> 00:02:01.109
leave them money. So give us your thoughts about what
32
00:02:01.189 --> 00:02:05.209
people should be doing to maximize their retirement income.
33
00:02:06.200 --> 00:02:09.020
For sure, and that's the greatest point of all. It
34
00:02:09.039 --> 00:02:11.219
starts at 65, and then you're kind of left off
35
00:02:11.259 --> 00:02:12.900
into the wind to solve this for yourself.
36
00:02:13.400 --> 00:02:16.020
Maybe it's too late for me, Jay. Maybe I should
37
00:02:16.039 --> 00:02:17.259
have talked to you 10 years ago.
38
00:02:18.120 --> 00:02:21.139
No, it's actually never too late. Here's what's amazing about that, right,
39
00:02:21.199 --> 00:02:23.379
is that the first thing we like to do and
40
00:02:23.419 --> 00:02:25.479
have conversations with our clients about is how long they're
41
00:02:25.500 --> 00:02:28.860
going to be in retirement, right? Let's solve the most
42
00:02:28.939 --> 00:02:31.509
important piece of the equation, because if you get a
43
00:02:31.530 --> 00:02:35.550
better understanding then– What's my length in retirement? You can
44
00:02:35.629 --> 00:02:39.610
choose your saving, your estate planning, and you can maximize
45
00:02:39.689 --> 00:02:42.810
the income that you're taking right now. What Abacus does
46
00:02:42.889 --> 00:02:47.560
is help people discover this right away. And it's so fascinating,
47
00:02:47.580 --> 00:02:51.780
if you'll allow me, the AI conversation is super interesting
48
00:02:52.060 --> 00:02:55.219
when it applies to your health. I know there's fear
49
00:02:55.300 --> 00:02:58.889
out there. I know it's, hey, I like AI data centers,
50
00:02:58.909 --> 00:03:00.189
just don't put it in my backyard.
51
00:03:00.210 --> 00:03:00.310
Right?
52
00:03:01.300 --> 00:03:04.039
If you don't have the data center, you can't process
53
00:03:04.060 --> 00:03:07.909
the information. You can't cure disease. You can't extend the life.
54
00:03:07.990 --> 00:03:08.439
Right.
55
00:03:08.650 --> 00:03:12.830
Exactly. We currently use AI in an amazing way.
56
00:03:12.849 --> 00:03:16.990
Do you mean you at Abacus are using AI?
57
00:03:16.990 --> 00:03:20.229
At Abacus in the financial space. But here's where it
58
00:03:20.270 --> 00:03:22.069
really helps us. If you want to get a better
59
00:03:22.110 --> 00:03:24.490
understanding of how long you're going to be in retirement,
60
00:03:24.509 --> 00:03:26.949
you have to get your medical files. Now, advocates can
61
00:03:26.969 --> 00:03:30.460
get your medical files quite quickly, generally within 48, 72 hours.
62
00:03:30.520 --> 00:03:31.939
If you've ever had to deal with this, that's an
63
00:03:31.979 --> 00:03:36.750
amazing tool. And this is on our website, AdvocatesLifeArc.com. And
64
00:03:36.810 --> 00:03:39.909
what happens is. is that once we get the medical files,
65
00:03:39.949 --> 00:03:42.590
we have AI summarize them all for you. Incredibly accurate.
66
00:03:42.990 --> 00:03:45.689
It could be a thousand pages. It could be 20 years.
67
00:03:45.710 --> 00:03:48.330
And now you've got this summary of your entire health profile.
68
00:03:48.710 --> 00:03:51.169
And then there's an AI physician there that can kind
69
00:03:51.189 --> 00:03:53.430
of help guide you a little bit on, hey, you
70
00:03:53.449 --> 00:03:55.469
might want to think about doing things a little bit differently.
71
00:03:55.500 --> 00:04:00.939
And then it transforms that information into financial planning information, right?
72
00:04:01.000 --> 00:04:08.620
So if you're 65 and you have a Um, that's
73
00:04:08.680 --> 00:04:11.280
a long time. So it's not too late. Right.
74
00:04:11.319 --> 00:04:14.219
But also, but also if I'm, you know, let's take my,
75
00:04:14.280 --> 00:04:16.379
you know, I'm just using myself as an example, but
76
00:04:16.759 --> 00:04:20.160
you know, I'm 66 and maybe I'll live to 90,
77
00:04:20.160 --> 00:04:23.100
but maybe I'll only live to, you know, late seventies,
78
00:04:23.139 --> 00:04:24.639
who knows, you know, or maybe I'll get hit by
79
00:04:24.660 --> 00:04:28.100
a truck, but you can basically help predict for me
80
00:04:28.139 --> 00:04:31.639
based on my health background and my genetics and so on,
81
00:04:32.019 --> 00:04:33.750
how many years I have left. So I can sort
82
00:04:33.759 --> 00:04:34.350
of plan.
83
00:04:34.399 --> 00:04:34.620
Exactly.
84
00:04:35.920 --> 00:04:37.860
You know, maximizing my return.
85
00:04:38.819 --> 00:04:41.819
That's right. And some financial planning firms will talk about this,
86
00:04:41.860 --> 00:04:44.279
but they don't have the underlying medical data to support it.
87
00:04:45.060 --> 00:04:45.350
I see.
88
00:04:45.370 --> 00:04:49.089
General population average. Right. So you go in and they say, hey,
89
00:04:49.550 --> 00:04:51.470
we think you're going to live to 95. See, based
90
00:04:51.529 --> 00:04:56.579
on what? Right. Right. Right. if you can actually load
91
00:04:56.620 --> 00:04:58.930
your medical files, because some people are going to live
92
00:04:58.949 --> 00:05:02.149
beyond age 95, by the way, some might go to 105,
93
00:05:02.149 --> 00:05:05.290
some might be, you know, 75, just as you highlighted,
94
00:05:05.329 --> 00:05:08.199
but have the initial starting point. This is like having
95
00:05:08.220 --> 00:05:11.560
a financial infrastructure so that you could be and make
96
00:05:11.899 --> 00:05:14.819
smarter decisions in your retirement. Now you know how much
97
00:05:14.839 --> 00:05:15.379
you can spend.
98
00:05:16.519 --> 00:05:19.269
And you can kind of because I've listened to you
99
00:05:19.290 --> 00:05:22.069
talk about this so many times, I'm sort of figuring
100
00:05:22.089 --> 00:05:24.470
it out that you can almost outsmart the insurance companies
101
00:05:25.060 --> 00:05:29.540
and you can make decisions that are, because the insurance
102
00:05:29.579 --> 00:05:33.519
companies treat everybody sort of alike, but we're all different.
103
00:05:33.720 --> 00:05:38.250
My wife has cancer in her genetics. I have Alzheimer's
104
00:05:38.310 --> 00:05:41.610
in my family history, et cetera. So you can kind
105
00:05:41.649 --> 00:05:43.949
of figure out what the best plan is based on
106
00:05:44.009 --> 00:05:44.829
our medical history.
107
00:05:45.699 --> 00:05:48.379
Based upon yours, your individual plan. If you go to
108
00:05:48.420 --> 00:05:50.769
an annuity, you're put into a big class of people,
109
00:05:50.810 --> 00:05:52.949
some healthy, some less healthy. That's why you get a
110
00:05:52.949 --> 00:05:56.569
5% yield. If you run through this program and all
111
00:05:56.589 --> 00:05:58.250
of a sudden you're like, gosh, like maybe I have
112
00:05:58.269 --> 00:06:01.810
a little bit less to live. And I'll pause there
113
00:06:01.850 --> 00:06:04.560
because some people get terrified. They come to me, Steve,
114
00:06:04.579 --> 00:06:08.199
and they're like, I don't want to know. I go, yes,
115
00:06:08.220 --> 00:06:08.800
you do.
116
00:06:09.639 --> 00:06:11.379
You don't want to know.
117
00:06:12.279 --> 00:06:16.629
Let's be greedy. Why are you shortchanging yourself? Why are
118
00:06:16.649 --> 00:06:18.850
you only paying yourself 5% a year when you should
119
00:06:18.870 --> 00:06:22.329
be paying yourself 10% per year for your retirement income?
120
00:06:22.670 --> 00:06:26.430
Leave two or three times that to your heirs or
121
00:06:26.470 --> 00:06:28.629
to your church or whatever you want to donate to.
122
00:06:29.110 --> 00:06:32.490
This is the information that, honestly, a lot of insurance
123
00:06:32.529 --> 00:06:35.250
companies don't want you to have because now you're sitting
124
00:06:35.290 --> 00:06:36.449
at the same table they are.
125
00:06:37.829 --> 00:06:41.089
By the way, I'm talking- to Jay Jackson, who is
126
00:06:41.149 --> 00:06:43.930
the CEO of Abacus. How do people reach you? How
127
00:06:43.949 --> 00:06:45.550
do people find out more about Abacus?
128
00:06:45.889 --> 00:06:49.360
Super easy. They can just go to Abacus LifeArc. The
129
00:06:49.379 --> 00:06:53.740
program's called LifeArc, L-I-F-E-A-R-C, lifearc.com. There's a calculator they can
130
00:06:53.779 --> 00:06:56.500
play around on. We're a publicly traded company. We trade
131
00:06:56.540 --> 00:06:59.839
under the ticker symbol ABX. And Abacus GM is our
132
00:06:59.939 --> 00:07:04.149
public company website. Very easy to find us. And hopefully
133
00:07:04.170 --> 00:07:07.189
the listeners will take a minute and at the very minimum,
134
00:07:07.879 --> 00:07:10.839
Take possession of the most valuable asset that they have,
135
00:07:11.100 --> 00:07:11.720
which is time.
136
00:07:12.519 --> 00:07:17.459
So let's take an example of two different people. Let's
137
00:07:17.480 --> 00:07:22.899
say you've got two males. They're each in their mid-60s.
138
00:07:23.399 --> 00:07:26.160
And one maybe has, I don't know, two or three kids.
139
00:07:26.399 --> 00:07:29.459
And the other one might be childless or not like
140
00:07:29.500 --> 00:07:31.610
their kids. And so one of them wants to leave
141
00:07:32.329 --> 00:07:34.990
plenty of money for their kids in their estate. The
142
00:07:35.050 --> 00:07:37.689
other may either just not have kids to give money
143
00:07:37.730 --> 00:07:39.699
to or they don't want to leave money to their kids.
144
00:07:40.720 --> 00:07:43.699
So that's a totally different plan then for both of them, right?
145
00:07:43.720 --> 00:07:46.759
It is. Yeah, that's right. One should maximize their income.
146
00:07:47.319 --> 00:07:49.500
And it starts with how do you know how much
147
00:07:49.519 --> 00:07:52.060
to maximize your income? Let's say you've saved up, you
148
00:07:52.360 --> 00:07:54.180
don't have kids, you want to leave this to your 65,
149
00:07:54.180 --> 00:07:57.160
you've got $ 2 million. Why on earth would you go
150
00:07:57.259 --> 00:08:00.449
into maybe an annuity or bond portfolio that pays you five?
151
00:08:00.829 --> 00:08:02.949
You should be maximizing your income at two or three
152
00:08:02.990 --> 00:08:06.230
times that. You should be at two or 300,000 because
153
00:08:06.449 --> 00:08:07.949
you want to know when you're going to draw this
154
00:08:07.990 --> 00:08:10.990
down over time. And that person may have a 15-year
155
00:08:11.029 --> 00:08:14.259
lifespan probabilistically. By the way, the secret to this is
156
00:08:14.779 --> 00:08:17.709
we re-underwrite you for free every year. We come back
157
00:08:17.750 --> 00:08:19.529
to you at the end of each year and say, okay,
158
00:08:19.810 --> 00:08:22.730
let's reevaluate where you are. Let's update your medical files.
159
00:08:22.750 --> 00:08:26.079
Let's see how your arc has maybe adjusted longer or shorter,
160
00:08:26.439 --> 00:08:30.040
and then make the appropriate changes to your asset allocation.
161
00:08:30.319 --> 00:08:32.379
And the contrary to somebody who's thinking, gosh, I want
162
00:08:32.399 --> 00:08:35.659
to have a larger legacy to my heirs, to my family,
163
00:08:35.799 --> 00:08:38.570
et cetera. They might say, okay, I want to dial
164
00:08:38.590 --> 00:08:40.509
this back a little bit and say, I only want
165
00:08:40.509 --> 00:08:43.269
8% instead of 15% in my income. I want to
166
00:08:43.289 --> 00:08:45.110
make sure all my needs are met and I want
167
00:08:45.129 --> 00:08:48.889
to outlive my income, but If they allocate appropriately, they
168
00:08:48.929 --> 00:08:51.529
can leave 2x with their account. They could be $ 4
169
00:08:51.289 --> 00:08:53.230
or $ 5 million to their heirs.
170
00:08:53.929 --> 00:08:55.129
Well, what's also cool about.
171
00:08:55.029 --> 00:08:58.070
This- Maximizing income, not taking away income when you need
172
00:08:58.110 --> 00:08:58.450
it most.
173
00:08:58.990 --> 00:09:01.389
Well, also, these are the golden years for people, so
174
00:09:01.409 --> 00:09:04.220
you're helping them. live, live a good life, you know,
175
00:09:04.240 --> 00:09:08.679
when they're retired. Go to, go to Italy, go to Greece,
176
00:09:08.750 --> 00:09:11.970
you know, take trips and really enjoy those retirement years.
177
00:09:11.990 --> 00:09:15.330
Go to Greece, learn the local language. Right.
178
00:09:15.509 --> 00:09:15.710
Right.
179
00:09:17.129 --> 00:09:20.450
You will, because you'll learn a new language helps you neurologically. Steve,
180
00:09:20.470 --> 00:09:23.129
for sure. You should do this with, with, with Alzheimer's
181
00:09:23.190 --> 00:09:27.029
in your family, get tested for it. And, and you'll travel,
182
00:09:27.070 --> 00:09:29.570
you have community and learning a new language is, is
183
00:09:29.590 --> 00:09:31.669
a great mental exercise. Amazing.
184
00:09:31.710 --> 00:09:34.840
So, uh, This is now, when should people, you know,
185
00:09:34.860 --> 00:09:39.179
we have people in their forties, fifties, sixties, seventies, eighties.
186
00:09:39.279 --> 00:09:41.200
When is it too late? Or like, when's the ideal
187
00:09:41.259 --> 00:09:44.379
time to start to turn to Abacus for your advice
188
00:09:44.450 --> 00:09:46.970
right away? I mean, even people in their forties and fifties.
189
00:09:47.610 --> 00:09:50.629
Absolutely. People in their forties and fifties, what happens is
190
00:09:50.769 --> 00:09:53.029
it helps guide them in how they should be allocating
191
00:09:53.049 --> 00:09:55.190
their portfolio. And it also guides them to what they're
192
00:09:55.210 --> 00:09:56.809
going to need in retirement. So how much they should
193
00:09:56.850 --> 00:09:59.210
be saving. The other thing is that once you're getting
194
00:09:59.269 --> 00:10:02.690
into your sixties, you take Social Security or defer it?
195
00:10:03.669 --> 00:10:07.419
For a majority of the population, there's a real reason
196
00:10:07.480 --> 00:10:09.720
to defer, but you can't make that decision if you
197
00:10:09.759 --> 00:10:11.759
don't know how long you're going to be in retirement.
198
00:10:11.820 --> 00:10:16.000
It's a mathematical decision. And don't defer if you're 65
199
00:10:16.000 --> 00:10:18.980
and you're less healthy and, you know, you've gone through
200
00:10:19.000 --> 00:10:21.730
the Abacus LifeArt program. It says 12 years. Take your
201
00:10:21.750 --> 00:10:24.769
Social Security. If it's 24 years, defer it. You're going
202
00:10:24.789 --> 00:10:26.169
to come out much, much better.
203
00:10:26.710 --> 00:10:29.889
This is very important because I think you're making a
204
00:10:29.929 --> 00:10:32.669
great point here because, you know, the Social Security is
205
00:10:32.710 --> 00:10:35.769
not like a retirement plan. In other words, if you die,
206
00:10:35.789 --> 00:10:39.149
you know, at 68, you know, you're just screwed. All
207
00:10:39.190 --> 00:10:41.070
that money you paid in. You know, you get a
208
00:10:41.090 --> 00:10:45.440
tiny little death benefit, whereas, you know, sorry, go ahead.
209
00:10:46.240 --> 00:10:48.639
No, I was going to say, we have an issue
210
00:10:48.659 --> 00:10:51.379
with Social Security. We know this. 2032, it starts to draw,
211
00:10:51.399 --> 00:10:55.799
I think, about 22% short. Still, 80% of benefits will
212
00:10:55.820 --> 00:10:58.919
get paid. But my point is this, is that if
213
00:10:59.159 --> 00:11:02.039
you're living the right healthy lifestyle, no one is saying
214
00:11:02.080 --> 00:11:04.700
cut Social Security benefits. But if a larger set of
215
00:11:04.720 --> 00:11:07.720
the population had this data, deferred their Social Security, where
216
00:11:07.740 --> 00:11:09.649
they can get much larger payments because they have a
217
00:11:09.679 --> 00:11:13.450
higher probability. Sure, you can't prevent the accident. I get that.
218
00:11:13.509 --> 00:11:17.200
But that's unlikely. what's likely is you're going to live
219
00:11:17.399 --> 00:11:20.440
to 85 to 90, then you should defer Social Security
220
00:11:20.460 --> 00:11:23.019
and think about the health of the system. All of
221
00:11:23.039 --> 00:11:26.309
a sudden, we don't overdraw in 2032. It might be
222
00:11:26.309 --> 00:11:28.750
10 years later. So I'm actually talking to the Social
223
00:11:28.769 --> 00:11:31.769
Security Administration about this exact point and rolling out life
224
00:11:31.870 --> 00:11:33.730
arc to everyone on Social Security so that they can
225
00:11:33.750 --> 00:11:35.110
determine whether they defer or not.
226
00:11:35.850 --> 00:11:39.350
Well, folks, we've been talking to Jay Jackson. He is
227
00:11:39.769 --> 00:11:42.120
regular on this show because every time I listen to him,
228
00:11:42.620 --> 00:11:45.100
And hopefully when you listen to them, I learn something new.
229
00:11:46.340 --> 00:11:48.799
Just one last time, how do people contact you, Jay?
230
00:11:50.129 --> 00:11:55.350
I would say for this call, it's the abacuslifearc.com. That's
231
00:11:55.389 --> 00:11:57.230
where all your listeners should go today. That's where I'm
232
00:11:57.269 --> 00:11:59.990
encouraging them to go today. Play around on that calculator
233
00:12:00.529 --> 00:12:02.139
and help them improve their outcomes.
234
00:12:02.720 --> 00:12:05.679
It doesn't cost them anything. Thank you, Jay. Great work
235
00:12:05.840 --> 00:12:06.419
as always.
1
00:00:06.650 --> 00:00:15.029
Hey folks. Uh, thanks for joining. This is the more
2
00:00:15.050 --> 00:00:17.489
money show. I hope you're having a wonderful weekend, by
3
00:00:17.530 --> 00:00:19.170
the way, if you're just joining, we had a really
4
00:00:19.210 --> 00:00:23.859
fascinating conversation with Steve Delbianco, uh, talking about the future
5
00:00:23.899 --> 00:00:28.230
of AI, the future of data centers, uh, uh, in about, uh,
6
00:00:29.019 --> 00:00:30.980
Before the top of the hour, we'll take a few
7
00:00:31.000 --> 00:00:33.119
of your calls. I want to hear from you. What
8
00:00:33.140 --> 00:00:35.679
do you think about this? Are you more afraid or
9
00:00:35.840 --> 00:00:41.039
more excited about this data center AI future? I'm excited
10
00:00:41.100 --> 00:00:43.140
about it. I think it's going to be so transformative,
11
00:00:43.179 --> 00:00:45.539
make life on Earth so much better. But I know
12
00:00:45.600 --> 00:00:48.320
many people have very different opinions. So if you want
13
00:00:48.380 --> 00:00:51.340
to join that conversation, 1-800-848-9222 is the more money hotline
14
00:00:51.359 --> 00:01:05.480
that's 1-800-848-9222 or 1-800-848-WABC. But in the meantime, I want
15
00:01:05.519 --> 00:01:08.959
to bring back one of the popular guests that we
16
00:01:09.000 --> 00:01:13.099
have often on the show because we always learn so
17
00:01:13.140 --> 00:01:15.680
much about how to make more money from Jay Jackson
18
00:01:16.040 --> 00:01:18.500
from Abacus. Jay, thanks for joining again.
19
00:01:19.599 --> 00:01:21.609
Yeah, awesome. Great to be here. Say hi to everybody
20
00:01:21.640 --> 00:01:22.430
for me. Love it.
21
00:01:23.590 --> 00:01:29.079
So Jay is an expert on how you can plan for,
22
00:01:29.159 --> 00:01:31.500
you know, you're perfect for me, Jay, because I'm 66
23
00:01:31.500 --> 00:01:32.859
and I'm trying to figure out what do I do
24
00:01:32.900 --> 00:01:35.540
with my finances? What do I do with my insurance premiums?
25
00:01:35.620 --> 00:01:37.859
All of this stuff. You know, we have an audience
26
00:01:37.920 --> 00:01:41.140
that's mostly in their 50s, 60s, 70s trying to figure
27
00:01:41.180 --> 00:01:44.780
this stuff out. And your firm, Abacus, is really an
28
00:01:44.859 --> 00:01:49.439
expert on guiding Americans through this labyrinth So you can
29
00:01:49.500 --> 00:01:52.980
make as much money as you can in your retirement years,
30
00:01:53.040 --> 00:01:56.950
but also save money for your kids and grandkids and
31
00:01:56.989 --> 00:02:01.109
leave them money. So give us your thoughts about what
32
00:02:01.189 --> 00:02:05.209
people should be doing to maximize their retirement income.
33
00:02:06.200 --> 00:02:09.020
For sure, and that's the greatest point of all. It
34
00:02:09.039 --> 00:02:11.219
starts at 65, and then you're kind of left off
35
00:02:11.259 --> 00:02:12.900
into the wind to solve this for yourself.
36
00:02:13.400 --> 00:02:16.020
Maybe it's too late for me, Jay. Maybe I should
37
00:02:16.039 --> 00:02:17.259
have talked to you 10 years ago.
38
00:02:18.120 --> 00:02:21.139
No, it's actually never too late. Here's what's amazing about that, right,
39
00:02:21.199 --> 00:02:23.379
is that the first thing we like to do and
40
00:02:23.419 --> 00:02:25.479
have conversations with our clients about is how long they're
41
00:02:25.500 --> 00:02:28.860
going to be in retirement, right? Let's solve the most
42
00:02:28.939 --> 00:02:31.509
important piece of the equation, because if you get a
43
00:02:31.530 --> 00:02:35.550
better understanding then– What's my length in retirement? You can
44
00:02:35.629 --> 00:02:39.610
choose your saving, your estate planning, and you can maximize
45
00:02:39.689 --> 00:02:42.810
the income that you're taking right now. What Abacus does
46
00:02:42.889 --> 00:02:47.560
is help people discover this right away. And it's so fascinating,
47
00:02:47.580 --> 00:02:51.780
if you'll allow me, the AI conversation is super interesting
48
00:02:52.060 --> 00:02:55.219
when it applies to your health. I know there's fear
49
00:02:55.300 --> 00:02:58.889
out there. I know it's, hey, I like AI data centers,
50
00:02:58.909 --> 00:03:00.189
just don't put it in my backyard.
51
00:03:00.210 --> 00:03:00.310
Right?
52
00:03:01.300 --> 00:03:04.039
If you don't have the data center, you can't process
53
00:03:04.060 --> 00:03:07.909
the information. You can't cure disease. You can't extend the life.
54
00:03:07.990 --> 00:03:08.439
Right.
55
00:03:08.650 --> 00:03:12.830
Exactly. We currently use AI in an amazing way.
56
00:03:12.849 --> 00:03:16.990
Do you mean you at Abacus are using AI?
57
00:03:16.990 --> 00:03:20.229
At Abacus in the financial space. But here's where it
58
00:03:20.270 --> 00:03:22.069
really helps us. If you want to get a better
59
00:03:22.110 --> 00:03:24.490
understanding of how long you're going to be in retirement,
60
00:03:24.509 --> 00:03:26.949
you have to get your medical files. Now, advocates can
61
00:03:26.969 --> 00:03:30.460
get your medical files quite quickly, generally within 48, 72 hours.
62
00:03:30.520 --> 00:03:31.939
If you've ever had to deal with this, that's an
63
00:03:31.979 --> 00:03:36.750
amazing tool. And this is on our website, AdvocatesLifeArc.com. And
64
00:03:36.810 --> 00:03:39.909
what happens is. is that once we get the medical files,
65
00:03:39.949 --> 00:03:42.590
we have AI summarize them all for you. Incredibly accurate.
66
00:03:42.990 --> 00:03:45.689
It could be a thousand pages. It could be 20 years.
67
00:03:45.710 --> 00:03:48.330
And now you've got this summary of your entire health profile.
68
00:03:48.710 --> 00:03:51.169
And then there's an AI physician there that can kind
69
00:03:51.189 --> 00:03:53.430
of help guide you a little bit on, hey, you
70
00:03:53.449 --> 00:03:55.469
might want to think about doing things a little bit differently.
71
00:03:55.500 --> 00:04:00.939
And then it transforms that information into financial planning information, right?
72
00:04:01.000 --> 00:04:08.620
So if you're 65 and you have a Um, that's
73
00:04:08.680 --> 00:04:11.280
a long time. So it's not too late. Right.
74
00:04:11.319 --> 00:04:14.219
But also, but also if I'm, you know, let's take my,
75
00:04:14.280 --> 00:04:16.379
you know, I'm just using myself as an example, but
76
00:04:16.759 --> 00:04:20.160
you know, I'm 66 and maybe I'll live to 90,
77
00:04:20.160 --> 00:04:23.100
but maybe I'll only live to, you know, late seventies,
78
00:04:23.139 --> 00:04:24.639
who knows, you know, or maybe I'll get hit by
79
00:04:24.660 --> 00:04:28.100
a truck, but you can basically help predict for me
80
00:04:28.139 --> 00:04:31.639
based on my health background and my genetics and so on,
81
00:04:32.019 --> 00:04:33.750
how many years I have left. So I can sort
82
00:04:33.759 --> 00:04:34.350
of plan.
83
00:04:34.399 --> 00:04:34.620
Exactly.
84
00:04:35.920 --> 00:04:37.860
You know, maximizing my return.
85
00:04:38.819 --> 00:04:41.819
That's right. And some financial planning firms will talk about this,
86
00:04:41.860 --> 00:04:44.279
but they don't have the underlying medical data to support it.
87
00:04:45.060 --> 00:04:45.350
I see.
88
00:04:45.370 --> 00:04:49.089
General population average. Right. So you go in and they say, hey,
89
00:04:49.550 --> 00:04:51.470
we think you're going to live to 95. See, based
90
00:04:51.529 --> 00:04:56.579
on what? Right. Right. Right. if you can actually load
91
00:04:56.620 --> 00:04:58.930
your medical files, because some people are going to live
92
00:04:58.949 --> 00:05:02.149
beyond age 95, by the way, some might go to 105,
93
00:05:02.149 --> 00:05:05.290
some might be, you know, 75, just as you highlighted,
94
00:05:05.329 --> 00:05:08.199
but have the initial starting point. This is like having
95
00:05:08.220 --> 00:05:11.560
a financial infrastructure so that you could be and make
96
00:05:11.899 --> 00:05:14.819
smarter decisions in your retirement. Now you know how much
97
00:05:14.839 --> 00:05:15.379
you can spend.
98
00:05:16.519 --> 00:05:19.269
And you can kind of because I've listened to you
99
00:05:19.290 --> 00:05:22.069
talk about this so many times, I'm sort of figuring
100
00:05:22.089 --> 00:05:24.470
it out that you can almost outsmart the insurance companies
101
00:05:25.060 --> 00:05:29.540
and you can make decisions that are, because the insurance
102
00:05:29.579 --> 00:05:33.519
companies treat everybody sort of alike, but we're all different.
103
00:05:33.720 --> 00:05:38.250
My wife has cancer in her genetics. I have Alzheimer's
104
00:05:38.310 --> 00:05:41.610
in my family history, et cetera. So you can kind
105
00:05:41.649 --> 00:05:43.949
of figure out what the best plan is based on
106
00:05:44.009 --> 00:05:44.829
our medical history.
107
00:05:45.699 --> 00:05:48.379
Based upon yours, your individual plan. If you go to
108
00:05:48.420 --> 00:05:50.769
an annuity, you're put into a big class of people,
109
00:05:50.810 --> 00:05:52.949
some healthy, some less healthy. That's why you get a
110
00:05:52.949 --> 00:05:56.569
5% yield. If you run through this program and all
111
00:05:56.589 --> 00:05:58.250
of a sudden you're like, gosh, like maybe I have
112
00:05:58.269 --> 00:06:01.810
a little bit less to live. And I'll pause there
113
00:06:01.850 --> 00:06:04.560
because some people get terrified. They come to me, Steve,
114
00:06:04.579 --> 00:06:08.199
and they're like, I don't want to know. I go, yes,
115
00:06:08.220 --> 00:06:08.800
you do.
116
00:06:09.639 --> 00:06:11.379
You don't want to know.
117
00:06:12.279 --> 00:06:16.629
Let's be greedy. Why are you shortchanging yourself? Why are
118
00:06:16.649 --> 00:06:18.850
you only paying yourself 5% a year when you should
119
00:06:18.870 --> 00:06:22.329
be paying yourself 10% per year for your retirement income?
120
00:06:22.670 --> 00:06:26.430
Leave two or three times that to your heirs or
121
00:06:26.470 --> 00:06:28.629
to your church or whatever you want to donate to.
122
00:06:29.110 --> 00:06:32.490
This is the information that, honestly, a lot of insurance
123
00:06:32.529 --> 00:06:35.250
companies don't want you to have because now you're sitting
124
00:06:35.290 --> 00:06:36.449
at the same table they are.
125
00:06:37.829 --> 00:06:41.089
By the way, I'm talking- to Jay Jackson, who is
126
00:06:41.149 --> 00:06:43.930
the CEO of Abacus. How do people reach you? How
127
00:06:43.949 --> 00:06:45.550
do people find out more about Abacus?
128
00:06:45.889 --> 00:06:49.360
Super easy. They can just go to Abacus LifeArc. The
129
00:06:49.379 --> 00:06:53.740
program's called LifeArc, L-I-F-E-A-R-C, lifearc.com. There's a calculator they can
130
00:06:53.779 --> 00:06:56.500
play around on. We're a publicly traded company. We trade
131
00:06:56.540 --> 00:06:59.839
under the ticker symbol ABX. And Abacus GM is our
132
00:06:59.939 --> 00:07:04.149
public company website. Very easy to find us. And hopefully
133
00:07:04.170 --> 00:07:07.189
the listeners will take a minute and at the very minimum,
134
00:07:07.879 --> 00:07:10.839
Take possession of the most valuable asset that they have,
135
00:07:11.100 --> 00:07:11.720
which is time.
136
00:07:12.519 --> 00:07:17.459
So let's take an example of two different people. Let's
137
00:07:17.480 --> 00:07:22.899
say you've got two males. They're each in their mid-60s.
138
00:07:23.399 --> 00:07:26.160
And one maybe has, I don't know, two or three kids.
139
00:07:26.399 --> 00:07:29.459
And the other one might be childless or not like
140
00:07:29.500 --> 00:07:31.610
their kids. And so one of them wants to leave
141
00:07:32.329 --> 00:07:34.990
plenty of money for their kids in their estate. The
142
00:07:35.050 --> 00:07:37.689
other may either just not have kids to give money
143
00:07:37.730 --> 00:07:39.699
to or they don't want to leave money to their kids.
144
00:07:40.720 --> 00:07:43.699
So that's a totally different plan then for both of them, right?
145
00:07:43.720 --> 00:07:46.759
It is. Yeah, that's right. One should maximize their income.
146
00:07:47.319 --> 00:07:49.500
And it starts with how do you know how much
147
00:07:49.519 --> 00:07:52.060
to maximize your income? Let's say you've saved up, you
148
00:07:52.360 --> 00:07:54.180
don't have kids, you want to leave this to your 65,
149
00:07:54.180 --> 00:07:57.160
you've got $ 2 million. Why on earth would you go
150
00:07:57.259 --> 00:08:00.449
into maybe an annuity or bond portfolio that pays you five?
151
00:08:00.829 --> 00:08:02.949
You should be maximizing your income at two or three
152
00:08:02.990 --> 00:08:06.230
times that. You should be at two or 300,000 because
153
00:08:06.449 --> 00:08:07.949
you want to know when you're going to draw this
154
00:08:07.990 --> 00:08:10.990
down over time. And that person may have a 15-year
155
00:08:11.029 --> 00:08:14.259
lifespan probabilistically. By the way, the secret to this is
156
00:08:14.779 --> 00:08:17.709
we re-underwrite you for free every year. We come back
157
00:08:17.750 --> 00:08:19.529
to you at the end of each year and say, okay,
158
00:08:19.810 --> 00:08:22.730
let's reevaluate where you are. Let's update your medical files.
159
00:08:22.750 --> 00:08:26.079
Let's see how your arc has maybe adjusted longer or shorter,
160
00:08:26.439 --> 00:08:30.040
and then make the appropriate changes to your asset allocation.
161
00:08:30.319 --> 00:08:32.379
And the contrary to somebody who's thinking, gosh, I want
162
00:08:32.399 --> 00:08:35.659
to have a larger legacy to my heirs, to my family,
163
00:08:35.799 --> 00:08:38.570
et cetera. They might say, okay, I want to dial
164
00:08:38.590 --> 00:08:40.509
this back a little bit and say, I only want
165
00:08:40.509 --> 00:08:43.269
8% instead of 15% in my income. I want to
166
00:08:43.289 --> 00:08:45.110
make sure all my needs are met and I want
167
00:08:45.129 --> 00:08:48.889
to outlive my income, but If they allocate appropriately, they
168
00:08:48.929 --> 00:08:51.529
can leave 2x with their account. They could be $ 4
169
00:08:51.289 --> 00:08:53.230
or $ 5 million to their heirs.
170
00:08:53.929 --> 00:08:55.129
Well, what's also cool about.
171
00:08:55.029 --> 00:08:58.070
This- Maximizing income, not taking away income when you need
172
00:08:58.110 --> 00:08:58.450
it most.
173
00:08:58.990 --> 00:09:01.389
Well, also, these are the golden years for people, so
174
00:09:01.409 --> 00:09:04.220
you're helping them. live, live a good life, you know,
175
00:09:04.240 --> 00:09:08.679
when they're retired. Go to, go to Italy, go to Greece,
176
00:09:08.750 --> 00:09:11.970
you know, take trips and really enjoy those retirement years.
177
00:09:11.990 --> 00:09:15.330
Go to Greece, learn the local language. Right.
178
00:09:15.509 --> 00:09:15.710
Right.
179
00:09:17.129 --> 00:09:20.450
You will, because you'll learn a new language helps you neurologically. Steve,
180
00:09:20.470 --> 00:09:23.129
for sure. You should do this with, with, with Alzheimer's
181
00:09:23.190 --> 00:09:27.029
in your family, get tested for it. And, and you'll travel,
182
00:09:27.070 --> 00:09:29.570
you have community and learning a new language is, is
183
00:09:29.590 --> 00:09:31.669
a great mental exercise. Amazing.
184
00:09:31.710 --> 00:09:34.840
So, uh, This is now, when should people, you know,
185
00:09:34.860 --> 00:09:39.179
we have people in their forties, fifties, sixties, seventies, eighties.
186
00:09:39.279 --> 00:09:41.200
When is it too late? Or like, when's the ideal
187
00:09:41.259 --> 00:09:44.379
time to start to turn to Abacus for your advice
188
00:09:44.450 --> 00:09:46.970
right away? I mean, even people in their forties and fifties.
189
00:09:47.610 --> 00:09:50.629
Absolutely. People in their forties and fifties, what happens is
190
00:09:50.769 --> 00:09:53.029
it helps guide them in how they should be allocating
191
00:09:53.049 --> 00:09:55.190
their portfolio. And it also guides them to what they're
192
00:09:55.210 --> 00:09:56.809
going to need in retirement. So how much they should
193
00:09:56.850 --> 00:09:59.210
be saving. The other thing is that once you're getting
194
00:09:59.269 --> 00:10:02.690
into your sixties, you take Social Security or defer it?
195
00:10:03.669 --> 00:10:07.419
For a majority of the population, there's a real reason
196
00:10:07.480 --> 00:10:09.720
to defer, but you can't make that decision if you
197
00:10:09.759 --> 00:10:11.759
don't know how long you're going to be in retirement.
198
00:10:11.820 --> 00:10:16.000
It's a mathematical decision. And don't defer if you're 65
199
00:10:16.000 --> 00:10:18.980
and you're less healthy and, you know, you've gone through
200
00:10:19.000 --> 00:10:21.730
the Abacus LifeArt program. It says 12 years. Take your
201
00:10:21.750 --> 00:10:24.769
Social Security. If it's 24 years, defer it. You're going
202
00:10:24.789 --> 00:10:26.169
to come out much, much better.
203
00:10:26.710 --> 00:10:29.889
This is very important because I think you're making a
204
00:10:29.929 --> 00:10:32.669
great point here because, you know, the Social Security is
205
00:10:32.710 --> 00:10:35.769
not like a retirement plan. In other words, if you die,
206
00:10:35.789 --> 00:10:39.149
you know, at 68, you know, you're just screwed. All
207
00:10:39.190 --> 00:10:41.070
that money you paid in. You know, you get a
208
00:10:41.090 --> 00:10:45.440
tiny little death benefit, whereas, you know, sorry, go ahead.
209
00:10:46.240 --> 00:10:48.639
No, I was going to say, we have an issue
210
00:10:48.659 --> 00:10:51.379
with Social Security. We know this. 2032, it starts to draw,
211
00:10:51.399 --> 00:10:55.799
I think, about 22% short. Still, 80% of benefits will
212
00:10:55.820 --> 00:10:58.919
get paid. But my point is this, is that if
213
00:10:59.159 --> 00:11:02.039
you're living the right healthy lifestyle, no one is saying
214
00:11:02.080 --> 00:11:04.700
cut Social Security benefits. But if a larger set of
215
00:11:04.720 --> 00:11:07.720
the population had this data, deferred their Social Security, where
216
00:11:07.740 --> 00:11:09.649
they can get much larger payments because they have a
217
00:11:09.679 --> 00:11:13.450
higher probability. Sure, you can't prevent the accident. I get that.
218
00:11:13.509 --> 00:11:17.200
But that's unlikely. what's likely is you're going to live
219
00:11:17.399 --> 00:11:20.440
to 85 to 90, then you should defer Social Security
220
00:11:20.460 --> 00:11:23.019
and think about the health of the system. All of
221
00:11:23.039 --> 00:11:26.309
a sudden, we don't overdraw in 2032. It might be
222
00:11:26.309 --> 00:11:28.750
10 years later. So I'm actually talking to the Social
223
00:11:28.769 --> 00:11:31.769
Security Administration about this exact point and rolling out life
224
00:11:31.870 --> 00:11:33.730
arc to everyone on Social Security so that they can
225
00:11:33.750 --> 00:11:35.110
determine whether they defer or not.
226
00:11:35.850 --> 00:11:39.350
Well, folks, we've been talking to Jay Jackson. He is
227
00:11:39.769 --> 00:11:42.120
regular on this show because every time I listen to him,
228
00:11:42.620 --> 00:11:45.100
And hopefully when you listen to them, I learn something new.
229
00:11:46.340 --> 00:11:48.799
Just one last time, how do people contact you, Jay?
230
00:11:50.129 --> 00:11:55.350
I would say for this call, it's the abacuslifearc.com. That's
231
00:11:55.389 --> 00:11:57.230
where all your listeners should go today. That's where I'm
232
00:11:57.269 --> 00:11:59.990
encouraging them to go today. Play around on that calculator
233
00:12:00.529 --> 00:12:02.139
and help them improve their outcomes.
234
00:12:02.720 --> 00:12:05.679
It doesn't cost them anything. Thank you, Jay. Great work
235
00:12:05.840 --> 00:12:06.419
as always.
