Latest / The Jon Sanchez Show / The Retirement Clock Is Ticking: When Is Enough, Enough?
Transcript
- Jon G. Sanchez: Good Monday afternoon, too. Welcome to the John Sanchez Show on News Talk 780KOH. Pleasure to be with you this Monday. I hope it's been a great start to your week. And I hope I can make it even a little bit better for you. Got some good news on the market side today. Finally, finally. We have a little bit of a reprieve after a very difficult week last week. Going to give you all the details about it, what moved, what didn't move, and why. And then I'm going to move into my Monday retirement planning topic. this is going to be a good one. I've never done a show on this one. But You a lot of times I'll get my show ideas just thinking through conversations I have with clients and and my years of experience dealing with thousands of people, I would assume. And I've titled today's show, The Retirement Clock is Ticking. When is Enough Enough? Here's what I mean. You know, you've spent 30, 40, sometimes longer, years worth of working, saving diligently, sacrificing, investing for retirement. But when the time finally comes, why do so many of you put it off? Is it fear of running out of money or is it fear of something else? Well, today I'm asking the question that could change your retirement. What are you waiting for? And why? So it's going to be fascinating. And if you're young, you may be going, wait a minute here. You mean someone can financially retire, but they don't? What's wrong with them? Or you may be saying, you know, you may be one of these that go, you know what? I don't want to retire. I don't want to sit at home. I enjoy what I do. And yeah, I can continue saving a little bit. Nothing wrong with that. But this is a really, really deep psychological topic that I'm going to share with you this afternoon. And if you think it's fallacy, trust me, it is not. I've had this conversation countless times with people. Matter of fact, I just had it last week with somebody. And it was exactly what I'm going to lay out to you today. They financially can afford to do it. They don't like their job. So it's the question, what are you waiting for? What are you waiting for? Because you may get that phone call one day after you just got back from the doctor and they go, you know what? You have cancer, you have a heart problem, or you may wake up one day and you have a heart attack or a stroke or God forbid a car accident. Lord knows life is fragile. Do you want to send it, spend it sitting at the desk behind the steering wheel, wherever you may make your living? Or Are you going say, you know what? What am I waiting for? That's what I hope I you can answer by the time the show is over today. What am I waiting for? All right, let's get down to the stock market side of things today. So, you know, I I think probably the the best thing to do is let's turn back the page to Friday. If you didn't catch the show or you didn't, for whatever reason, didn't follow what happened on the market on Friday, Friday was a scary day. Not so much for the down the SP side of things, but it was on the NASDAQ. And that's why my topic on Friday, and if you missed it, please pick up the podcast, is very simple. Can your portfolio handle a 20% decline? Because it's inevitable. It's going to happen and at some point here. Just a matter of when. You know, we lost 573 points on the NASDAQ on Friday. Down 175. SP was down 85 or 84. So we come into this weekend, or I'm sorry, come back from this weekend, and there is really no major geopolitical news. And all of a sudden, unlike Friday, where no one wanted tech, no one wanted anything AI related, and that was kind of the theme of all of last week. The institutions come in today and go, hey, you know what? We love tech today. And they bit it up, drove the NASDAQ up. Now succumbed to a little bit of selling pressure going into the close. S B was didn't really have much excitement, but all the excitement was in the Nasdaq today. So could it be Again, a value situation where institutions, as I said last when I said on Friday, I said, look at you've been around this game long enough to know you can wake up one day and either the institutions hate tech and they sell it off and it goes for a few days, and then all of a sudden you come in another day and all of a sudden they love tech. That's the algorithms doing it, plain and simple. Certain parameters are meant, like fifty day or two hundred day moving average. I mean, a number of different indicators, and then they either buy or they sell. It's that simple. I saw an interesting article, a little, little side note. I saw an interesting article in the Wall Street Journal today. And the article, excuse me, Bloomberg, and the article was saying about you know the the the big Wall Street firm Barclays. And they anticipate that here within the next year or so, AI agents are going to be doing the majority of the firm's bond trading. Now, the article didn't say how many, I'm sure, billions of dollars they trade, but that's where this thing is getting to, folks. I it it's gonna get to a point where, you know, algorithms seem like, you know, the dinosaur age, right? AI agents are gonna be coming in, buying, selling, buying. You think it's volatile now? Wait till AI agents do it. And then just wait until one of the AI agents go rogue, as we know that they have the capability of doing. I mean, it it's it's gonna be fascinating to see what this industry changes into over the next few years. And I'm not talking years down the road, I'm talking over the next few years. So here's how we we ended up on the session today. Like I said, a little bit of selling pressure. The Dow just could never really get any traction throughout the entire session, but finished down 36, big deal. 51,966 was our close there. The Nasdaq, however, gained 291 points. So put a little bit of dent in the 500 plus point loss on Friday. That was a 1.11% rise, closed at 26,430, and the SP for the day was up 31 points, 0.41% to close at 7,690. Now unfortunately, The SP closing at 7690 did break its 50-day moving average, which is 7,705. So, you know, again, that is a technical negative, but obviously the market didn't pay much of attention to it. Again, it's gonna chop around it, but we'll see if it continues to trade below that level. And then again, that's a that's a selling indicator there. But the volatility index, the VIX, as we call it, it backed down nicely today, 7.9%. Drop to 18.41. So that was a very encouraging sign that some of the market anxiety has eased just a little bit. But back to the semiconductor side of things. So again, names that were just really struggling last week, completely different today. Let's go hit some of the big names. Micron MU, 2.97% gain today, up $26.06 to $904.90. Sandisc, another one beaten up last week, $71.29 increase, 5.49% to $1,370. And Intel moved higher after they got a upgrade from a underweight to a neutral at JP Morgan. Intel gained 2.43%, a $2.18 increase to $92.03. But the one that I watched very, very closely today, that was really the story stock of last week was Coral Weave. Remember ear that matter of fact, I think was last Monday's show. I devoted a lot of the show to talking about how their bonds are trading in dangerously low levels and it's you know throwing the yields up to I think we hit 14% on their bonds, was the yield towards the end of the week. And it tried to recover a few times, meaning the stock itself based upon the the way the bonds were trading and the concerns about AI, the concerns about Core Weave and their debt structure, so on and so forth. they nibbled at it today. They I think they, you know, kind of tested the waters a little bit. The stock was positive for a short period of time, but finished down just twenty-seven cents, point four four percent to sixty-one dollars and twelve cents. Remember, this is the company that Jensen Wong, the CEO of Nvidia last week, came to the rescue and said. Hey, Core Weave is just fine. so not encouraging sign from a tech standpoint that core weave didn't come back yet, but again, that's just one name. Let's continue on to some of the winners. Datadog, DDOG, the cloud infrastructure company, finished nicely, $13.25 gain, 5.36% to $260.36. Palantir Technology, $8.12 increase, 4.36% to $194.15. Amazon was just a stud today. Big move here, four point nine eight percent up twelve dollars and forty-five cents to two sixty-two forty-five. Tesla had a great day. Did you see that story about Elon Musking? And he's gonna give didn't give a time period, and no one everyone's kind of questioning if this is really gonna happen, or you know, as a PR, whatever the case is, but he's gonna give one share of SpaceX, you know, the newly IPO'd company of his, one share of SpaceX to every child. So there's What was the stat I saw? 300 million, something like that, 300 million people in this country that are under age 18. It would equate to 10 billion dollars worth of stock that he'd give up. Yeah, chump change to him. But we will see what happens. But don't know if that's a reason that Tesla, you know, did so well, but it did thirteen dollar and thirty-four cent increase, three point seven six percent to close at three sixty eight six. let's see. Google up $3.25 today, $3.4016. So nice move there. Meta though didn't participate. Quite unusual. finished down $3.88, about a point five five percent loss to $705.44. And then we move over to the financials on the earnings front, fifth third finished up four fifth third bank, that is up fifty dollars and fifty-one cents, gave up the bulk of its earlier gains, falling an earnings beat, and some pretty constructive profitability outlook. Cleveland Cliffs in the metal space. Finished up $1.98 after some very stellar return or earnings numbers. That was a 16.34% gain because it's a $14.10 stock. so you know, again, other than that, it was relatively a quiet day. How do we set on a year-to-day basis? SP's up 12.4%, NASDAQ's higher by 13.7. Who ever thought the SP would have cut up to the NASDAQ, but it has. Russell 2000, which has been our leader up until last few weeks, above the or among the various major indices. It's a sitting with a gain of 9.9%, and the Dow's up 8.1% on a year-to-date basis. All right, you're up to date. I'm going to come back, hit the interest rate side, the commodity side, and then we're going get started in our topic. The retirement clock is ticking. When is enough? Enough. Back to the John Sancho Show and News Talk seven eighty KH. Once again, a decent day on the Nasdaq side, a little quiet on the NAS on the SP and the Dow side. Finished up two ninety one on the Nasdaq, one point one one percent. Dow lost thirty-six and the SP higher by thirty one. Boy, I apologize. I was wrong. I was double checking my math on the Elon Musk SpaceX situation that I told you, where he was gonna give away one share to every child. I thought there was like three hundred million children under the age eighteen in our country. No. I was way off 72 million. but I was close, I was pretty doggone close on the the value. So it's $10.5 billion of SpaceX stock that he would give away if he gave one share to every child under age 18 in the country. So like I said, we will see what happens on that one. All right, let's get a jump start on our topic today. Once again, the retirement clock is ticking. When is enough enough? And as I said at the beginning of the show. Right. You you're working all these years, you've saved for your you know you saved in your retirement, you saved for your family, you paid your bills, put your kids through college, did everything right. But now everything is lined up and you're still not ready to retire. I have asked this question, like I said, countless times, countless times in my clients over the years. And I say, What are you waiting for? What are you waiting for? You're 65, 67, maybe 70 years old. You've accumulated a substantial retirement portfolio. Your house is paid off. Social security is available. And again, we validated the numbers in your financial plan. You have enough money to retire comfortably. But what do they do? They keep working. So I wanted to delve deep into this because maybe you're in this situation now. Maybe you will be in the future. Who knows? But the question is, why? And that's what we're going to explore today. The typical answer that I get is you know what, just another year. Okay. I'm just going to work another year. I want to just sock away a little bit more money. Or I want to wait until the market improves. Or maybe I'll wait until I saved another, you know, pick a number $100,000, $200,000. All kinds of reasons. And here's often what I tell people. And it surprises a lot of them, to be honest with you. I tell them, you know what? You have enough money to retire. You got the cash flow. Everything is set up. You can always make more money, is what I tell them. But you cannot make one of the most precious commodities that all of us that are getting a bit older realize. And that is you cannot make more time. So today's show is not simply about retirement planning. I'm going to really transition to more life planning, which is to me more important than retirement planning. Because the biggest retirement mistake might not be running out of money as many of you think it is. It might be running out of time before you ever get to enjoy it. So here's my first question. Why do people keep postponing retirement? This is where we get into the psychology of retirement as I like to discuss it. And I've kind of laid it out into seven reasons that I hear. Number one, by far at the top of the list. Fear of running out of money. They say, look at I've spent decades accumulating wealth and the thought of withdrawing money rather than depositing it is terrifying to me. Terrifying. Number two, as I've discussed many times, a person's career defines their identity. And again, much more so on men, as I've said many times. I've never had one woman that says, nope, I'm not mentally ready to retire because geez, you know, I want I need to be wanted. No, it's always us men that say that. But it's this is the truth. The career defines their identity. Maybe they've been a business owner for a million years, an executive, a professional, a doctor that has all kinds of accolades and initials past his name or her name. Or maybe you're proud of the tenure that you've had at your company. I have been working here for 40 years. People like that. Question that I always tell people when they come back with that answer is who really are you without that title? Who really are you without that title? Third reason. The one more year syndrome, one more bonus, one more year of vesting on my stock options, one more year of contributions in my 401k, one more year of hitting that investment milestone. And then that one year becomes two, then becomes five, and so on so forth. And then they die at their desk. Because under that method, under that issue, the finish line will never be achieved. I've yet to find one person that says, When I've hit X amount of money, I'm done. It's never enough. People always say, you know, why do you see, you know, guys, I mean, very common in their late 60s, 70s, sometimes even older, still working on Wall Street, still on TV, still doing whatever they are in regarding money management. It number one, it's the title and the prestige. But number two, enough is never enough. Enough is never enough. Number four reason. Fear of boredom. They've never developed hobbies. They've never spent time on themselves. They've never developed any interest outside of their career. And the thought of not getting up at five o'clock when the alarm clock goes off and following the morning routine and being at the office at eight o'clock or on the job site at seven o'clock or wherever they may go, it's terrifying. And again, especially for us men. Number five, market uncertainty. They want to retire when the market is at an all time high and everything feels safe. Good luck on that one. Number six, guilt about not working. Some people believe that if they're not working, they're not contributing to society. They have no self worth. No reason again to get out of bed. It's like w what's my purpose? It's kind of like what what I was gonna say women, but I I went through this too. When we go through the empty nest syndrome when our children leave. Right? That was one of the hardest things I ever went through. The first time one of your children leave and move out on their own. Right? And number seven, they have no retirement lifestyle plan. They've planned financially for retirement, but they've never thought about what they're actually going to do with their time. Again, the what's my reason for getting out of bed scenario? And without that reason, what we t what we tend to see happen is again, people start going to bed later. They sleep in. They used to get up at five, now they get up at nine. They stay up to eleven when they used to go to bed at, you know. Eight or nine. They don't exercise. They start drinking. They start doing drugs. I mean, I've seen it all. So they have no retirement lifestyle plan. Those are the seven that I came up with that really are at the top of my head when we talk about why people keep postponing retirement. Now, when I come back, I'm going to start with the retirement math that nobody wants to talk about. Back the John Sanchez show on New Stalk 780 KOH. We'll continue our the retirement clock is ticking. When is enough enough? Segment in a moment. Recap of today's activity once again. Now struggled a little bit, finished very quietly on the downside by 36 points. NASDAQ rose 291, 1.11%, and the SP higher by 31 points, 0.41%. Oil is strong with a dollar eighty-four increase to one three twenty-four a barrel. Gold down twenty dollars and eighty cents, closed at four thousand one hundred and sixty dollars and ten cents an ounce. And we moved up four basis points on the 10-year treasury yield at 5.14%. All right, here's my next area regarding the retirement clock is ticking. The math that nobody wants to talk to you about. So let's discuss something that rarely comes up in retirement planning meetings. How much time do you actually have left? And I know before you answer that, no one knows. I understand, but all we can do is work in generalities. So let's just pick a hypothetical Age that we're gonna die. Eighty five years old. Well, if you're 60 right now, you got 25 years your money has to last you if you retire today. Today, if you're 65, obviously 20 years, age 70, 15 years, age 75, you got 10 years left. Of course, many of you are going to live substantially longer, others won't. Now remember, in financial planning, we need to plan on you living into your 90s. But here's an important distinction. Living longer does not necessarily mean enjoying the same level of health. and mobility throughout retirement, right? This is never discussed in meetings. So I said, wait a minute here. There's really three phases from an age standpoint. I'll say age/slash energy standpoint. The first one I'll call is the go-go years, right? This is age, say, 60 to 75. What are we doing then? We're traveling and exploring the world. We finally went out and bought that motorhome or that fifth-wheel trailer. We're traveling across the country to places we want to go. We're golfing, fishing, hunting, boating, hiking, enjoying the beautiful Nevada outdoors. Hey, for the first time, we're able to spend some time with our grandchildren. Maybe we finally get to pursue some of our hobbies, some of our interests. Bottom line, you're enjoying the freedom that comes with retirement. You're still young enough, you're healthy enough, you physically get it, can get out and do things, right? So that's the go-go years. Let's go to the opposite: the slow go years, age 75 to 85. Well, travel becomes a little less frequent. Health and mobility all of a sudden becomes an issue. More time may be spent closer to home than it is traveling. You definitely got rid of the the the the fifth wheel and the motorhome. You're not traveling. And your financial priorities may shift. The third phase, the no-go years, often age eighty-five and beyond. Increased possibility of needing assistance, much more time at home. Rarely are you out traveling, much more probability that you need health care, long-term care expenses, someone to take care of you, an assisted living home to go to, so on and so forth. Right? So you're just kind of like winding down. Again, I know there's always an exception. Some people remain remarkably active into their eighties and nineties. And I hope and pray that all of you get to do that. But the reality is you won't. So once again, working another couple more years. Do you want to forgo the go go years? Well, let's do some math on this. Let's do some math on this. This is pretty interesting. Let me give you a hypothetical client. Say this couple's been married, or they're married, I should say. And let's say they're age 66. So they're in those go-go years. They've done a good job saving, right? Investment portfolio is about 2 million bucks. Retirement spending goals about 120,000. They make about 60,000 combined in Social Security. Annual portfolio withdraw needed, about 60,000, right? Because they needed 120. They're getting 60 from they're getting 60 from Social Security. So they need to draw down about 60,000 on their retirement portfolio. See how we're starting with what do you need to live off of? I've done a lot of shows on this. What do you need to live off of? That's the gap. That's what we need to design the portfolio for. Well, under our math here, two million saved. Spending goals 120. 60 is going to come from Social Security. Another 60 needs to come from the portfolio. Well, that's that 60. Divided by the 120, or excuse me, that that 120 minus the 60, leaving the 60,000, that's about a 3% withdrawal rate. Okay, very doable. And this, of course, is before tax. But remember, a 3% starting withdrawal rate of your portfolio, that doesn't mean that that retirement is affordable because you still have to factor in, as I said a moment ago. You've got taxes, you've got inflation, portfolio composition, longevity, future spending, so on and so forth. So there's lot of moving parts. But now imagine that this couple's financial plan, their comprehensive financial plan, shows that they can retire comfortably. But they say, no, John, nope. I know the math says we can do it. We only need a 3% withdrawal rate. But you know what? We're gonna work another three years. Remember, they're already 66. We're gonna work another three years to accumulate about another half a million bucks. Well, here's my question: What exactly did that additional $500,000 work in another three years? What's it really going to change in your in your life? So let me put it in real life perspective. We said we're going to do a 3% withdrawal rate. Okay. Now it would feel good to see that portfolio statement going from 2 million to 2.5 million. No doubt about that. But once again, what are you giving up? You're giving up time. You're giving up the go-go years. So what does that $500,000 really mean as far as your cash flow? Well, if we use that same 3% withdrawal rate, that's what, $15,000 a year? A little over $1,000 a month. Are you willing to? Give up retirement for another three years for an extra thousand dollars a month. Tough one to answer, isn't it? My next area. Retirement doesn't mean you have to stop working. Not at all. Doesn't mean sitting in the rocking chair watching Oprah all day long. Is she even on anymore? I don't know. Nope, not at all. Matter of fact, for many people, that thought of completely stopping to work, it's terrifying. It's miserable for all the reasons I mentioned in the first segment. And that is absolutely perfectly fine. Because the beauty of financial independent independence is that you get to choose what you want to do, when you want to do it. If you want to sleep in, you can sleep in. If you want to get up at four o'clock in the morning, you can get up. You can do whatever you want to do because you have the freedom to do so. So now I want to give you what I call my five alternatives to traditional retirement. Number one, and I've said this before, this is what we call easing into retirement. Most of you kind of know what is semi retirement. And I've got a lot of clients that do this and they love it. They love it. They work two or three days per week instead of five. Now, obviously, you have to have an employer that's willing to do that. But like I said, you've got a lot of talent, a lot of experience. Many employers would love that opportunity. Right. This is where I've told you we set up an LLC. That way they're paid as a 1099, saves the employer a bunch of taxes, benefits, et cetera. The employee now is a self-employed individual, so they get some tax benefits of being a business owner, but they love it. Two to three days a week, they go into the office on the job site, whatever they did for a living. They get their freedom while still maintaining some income, some identity, and all the things that I told you are reasons that people defer retirement. Consulting, again. Take 30 or 40 years of experience and help other businesses or other professionals. I can think of five clients in the last couple of years I've helped saw start consulting businesses. Same thing. They weren't quite ready, even though they financial kid, they were not mentally ready to retire. It's like, you know what? Take all those years of experience. Teach other people, but get paid for it. Don't do it for free. Get paid for. Number three, entrepreneurship. Start that business you've dreamed about, but you never had the time or the financial freedom to pursue. And again, if you're doing it just for self-fulfillment, for a reason to get out of bed, or you're doing it to bring in an extra few bucks, it chucks all those boxes. Number four, teaching and mentoring. Share that knowledge with younger generations. How many of us absolutely love talking to younger people? Teaching them what we did right, what we did wrong. You can volunteer, you can mentor entrepreneurs, you can teach. So many people go back and become teachers, right? Got a college degree. Go back, do a little Little bit of this, a little bit of that. Next thing you know, they got their teacher credential and they and they teach university level, grade school, whatever it may be. But you're giving back, you're feeling self-fulfilled. And then number five is what I call the purpose-driven retirement. Spend time with your family that you've neglected for the last 40 years. Travel. Pursue that hobby or hobbies that you've always wanted. Support charitable organizations, right? There's nothing more incredible to and more under your heart than to go down and help or donate or guide a charitable organization you're passionate about. Or just become more involved in your community. So that's a purpose driven retirement. When we come back, I'm gonna leave you with five questions I want to ask you that I want you to answer to yourself before you decide to delay retirement. Back to the John Sancho Show on News Talk 780K, which I've been talking about. The retirement clock is ticking. When is enough? Enough. All right. So let's kind of start to wrap things up a little bit here. Five questions I want you to ask yourself before delaying retirement. Number one, if your financial advisor showed you that you could comfortably retire today, would you actually do it? Or would you delay it? Put, you know, all these different reasons that I've mentioned. I was gonna use the word excuses, but they're not excuses in some cases. But again, you it's been proven on paper, et cetera. Your advisor said, look, it you can afford to retire. Would you go, thank goodness, yes, I can? Or no, a couple more years. Gotta save a few more dollars. Question number two. What specifically are you hoping to accomplish by working another year or two years or three years? That's a really difficult question for you to answer, isn't it? I always catch people on this one. I validate their financially can afford to retire. And they go, you know what, a couple more years. Well, what is it you're looking to accomplish? Usually it's gonna be, I want a little bit more money. I'm fearful of running out of money. I don't, you know, I'm concerned that the market may go. All those reasons that I gave you, those are real life things I hear. But ask yourself that question what specifically am I hoping to accomplish by working another year? Question number three What experiences are you postponing while you're continuing to work? All those experiences I'd mentioned before, you know, time with the grandchildren, getting into hobbies, giving back to the community to volunteer, whatever it may be. Question number four. This one gets right to the heart. If your health changed tomorrow, what would you regret not doing? If your health changed tomorrow, what would you regret not doing? And I'm gonna add a little second part to that sentence that just came to mind. If a doctor told you tomorrow you've got one year left to live, would you continue working? Probably not. But back to that question. If your health changed tomorrow, you woke up, you go to the doctor for a checkup, you've got stage four cancer, or you've got this wrong with you, or you got that wrong with you. You know, there is and it this is very interesting, but you can do the research on the internet. So many studies have been done over the years asking people on their deathbed, what is it you regret the very most? Not one person, at least that I've ever seen in any of these studies, and I've read a lot of them, not one person has said, I wish I would have worked longer. I wish I would have saved another hundred thousand dollars, I wish I would have done this or done that, you know, as far as work is concerned. The number one thing that people regret on their deathbed. Is very simple. I wish I would have had more time for my family. I wish I would have spent more time with my family. That's the number one regret. And number five, are you working because you genuinely enjoy it or because you're afraid to stop? Let me repeat that one one more time. Are you working because you genuinely enjoy it or because you're afraid to stop? Now, these answers may tell you more about retirement readiness than any financial plan or retirement plan or cash flow plan I could create for you. Again, as I told you at the beginning of the show, this gets to the the the the the core of your mind. Because if you retire just because you say I've got enough money, that's not enough. You'll have a miserable retirement. You've got to re retire because you want to. Yes, you need to be able to financially afford it, of course. But you need to have a plan in retirement, just like you had a plan saving for retirement. Once again, what's going to get me out of bed? How am I going to get back? Bottom line is. What is it that you're going to do in retirement to make yourself feel good about yourself? Because it's a major, major transition you're going to go through. So as I wrap up today's show, I want to kind of go through a couple things to leave you with. If you think about this for just a second, this really hits home. For most of our adult lives, we measure our financial success, of course, by how much money we earn, how much money we've saved, how much wealth we accumulate, right? It's it's our validation that we've made it in life, that we contributed to society. But you know what's amazing? No one cares. This is you. It is how you measure success in your life by how much you've saved, how much you've invested, so on and so forth. Again, there's nothing wrong with that. But just remember, no one cares. Because eventually the definition of your success needs to change. It becomes much, much less about how much money you have, how much you made when you were working. It's about what the money allows you to do. Because maybe taking your wife on that trip you've talked about for 20 years, that's success. Maybe spending more time with your grandchildren, that's a success. Or fishing on a Tuesday morning instead of sitting at another meeting. Or maybe simply waking up and knowing the day belongs to you. I hope this helps you think about retirement, how it all works. And of course I can be of any service to you, by all means give me a call. God bless, have a great afternoon. We'll see you tomorrow on the John Sanchez Show.