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How Do You Know When It Is Time To Retire? · The Jon Sanchez Show

• Jon G. Sanchez: Good Monday afternoon to you. Welcome to the John Sanchez Show on New Stock 780 KOH. It's a pleasure to be with you on this stormy out there weather. No doubt about that. Thunderstorms are brewing, as you just heard. it's so great to be with you this Monday. Hope you had an excellent weekend. Let's get down to it. We've got a lot of things to talk about. Again, another ⁓ somewhat day, in my opinion, of the way this market reacted to the events over the weekend. The tragic loss of three American lives, one missing. The president announcing again this afternoon, more bombing occurring. it's a mess over there. But this market is still being very resilient to it, at least for the time being. We did sell off going into the close, but I don't know how much we can say was attributed to the the Middle East tensions or not. We had rising bond yields. had oil prices just modestly higher. Again, a significant surprise. I'm sure many of you heard the news over the weekend. And then today, the haven't mentioned them in quite some time, announced they're down a an alternate route, we'll call it, and a different straight for ⁓ Saudi Arabia. And so that created some tensions going So again, it's just nonstop, right? Just absolutely nonstop. ⁓ But again, all we care about is we can't control the the world headlines, but all we can control is how we allocate our portfolios, how we handle it psychologically, how we handle it physically, and then we go from there. I'm gonna get to the day's topic after I go through my stock market recap with you. Been so excited all day long to share this topic with you. I've titled today's show, How do you know when it's time to retire? Now, let me tell you, if you think it's all about the money side of it, absolutely not. Absolutely not. Matter of fact, let me give you little hypothetical. say you have enough money to retire. You validated it, maybe your financial advisor validated it, whatever the case is, you feel comfortable, you feel you got enough money. But the question is this: are you truly ⁓ To walk away. Well, today I'm going to discuss the financial and the psychological questions one of you should answer before leaving your career. I'm to include things like, of course, the income. How do we know if we have enough? The healthcare expenses, the purpose, your identity, and what life looks like on Monday morning. That's right. The first Monday morning when you're retired, that alarm clock goes off. What does life look like? So you see, I'm gonna get, I'd say it's probably gonna be 40% financial side of it, and the rest of it's gonna be the 60% the mental side. Because I feel that our industry does not do a good enough job emphasizing the psychological impact of retirement. I live it and breathe it every day with my clients. I really do. I see the panic first, right? When they've in their mind they've decided that it's time to retire. And again, if you're not retired, you are gonna wake up one day. No matter what anybody says, no matter what the bank account or the brokerage account says, you are done. You're ready to retire. It's human nature. There's nothing wrong with that. You may call it burnout. You may the reason is. Now we're seeing a lot of people, you know, in their, let's late 50s, early 60s, going, you know what? I can't keep up with these young kids because of AI. I'm fearful of AI taking my job. So I'm just gonna hang it up. I'm ready. I got enough money. I'm psychologically ready. Boom. They're ready to go. But once again, that that That phase that we go through, first of all, it's man, I don't want to go to work anymore. Then it's, hey, you know what? I think I can actually retire. you get a little bit closer and you're like, uh-oh, what did I do? I just notified HR and my boss that I'm, you know, I'm out of here in a month or two weeks. Then you get closer and closer, and the anxiety builds, the sweaty palms build, the sleepless nights build. And then before you know it, that day is there. The day you're calling it quits. And all of these things are going through your mind. Can I financially the life that I want to live, that I'm used to living? What's it gonna be like with my spouse being twenty-four seven? What's our relationship gonna be like? What am I gonna do to keep myself busy? You see, all these questions start going through your mind. Then we get into the next phase, which, okay, you're in retirement now. Now what are you going to do? Are you going to make the best of it? Is it going to be the best chapter of your life? Or is it going to be miserable? And that's why retirement planning is so very, very important. And to deal with someone like ourselves, that we live and eat and breathe it, right? I've put thousands of people through retirement. I've think I've seen just about everything. Other than I I I I'll put a little exclamation or a little asterisk to that one. I have yet, my 36 years doing this, I have yet to have a woman that says I am not psychologically ready to retire. As you've heard me say a million times, the men all the time. All the time. Women, I've never had one that says, Hey, I just got forced into retirement, or geez, I woke up and I it's like, I don't want to go to work anymore. Nah. Every single one of them are like, get me out of here. Can't wait. I've got a ton of stuff to do. Women are so much smarter than us men. They're so much more emotionally stable. Cause you see, women don't have the big egos us men do. Right? We have a problem when we retire that we feel like, hey, nobody wants us anymore. I've lost my identity. I used to be a big wig at the job. Now I'm nobody. I'm just a husband, maybe a dad, maybe a granddad, which are great rules to have. But in many cases, for us men, that doesn't fulfill things. that's why I like to spend a lot of time with clients that are thinking about retirement, talking about what life is going to be like once you retire. And I use that saying, what's going to get you out of bed each and every day? Because you have to have a reason. Otherwise it will be a miserable, miserable retirement. It will not be the best chapter of your life. So you see, there's a lot to this psychologically, but no one else talks about this. Everyone else talks about, ⁓ you need this amount of money and you need this cash flow and everything. Yeah, of course you do. But you know what? I've seen people with more money they know what to do with. And be absolutely miserable in retirement because they didn't have the psychological side of it handled or thought about it before they went into retirement. it's going to be a great topic. Can't wait to get to it. Let's get down to the stock market side of things today. You we had a pretty good opening bill. We had triple digit gains up about, I don't know, 180 or so, if I remember correctly, on the side of things. NASDAQ was knocking the door of a 300 point increase. Looked like it was going to be a solid day after remember. The drubbing that we took on Friday. If you ⁓ if you didn't catch the show in my my weekly recap, Friday was a tough day. today smelt a lot like Friday. Same reasons. Late afternoon rollover of the semiconductors, rising bond yields, oil prices holding stable. You know, on Friday we lost 407 on the Dow. The NASDAQ gave up 371 or 361, excuse me. Today, like I said, ⁓ not. Nearly as bad. On the Dow side was pretty similar. We had about a three hundred and seven point loss on the Dow. NASDAQ was only down twelve points. S P lower by fourteen. So not that bad. Just again, the pressure on the Dow side. again, it's the ingredients that that built up to today's sell-off, at least on the Dow side of things. ⁓ more importantly, some of the under under opinions of the market, which again is the semiconductors rolling over. You've got to have them participate. And I've used the analogy over and over again. We're find ourselves I used to use the analogy two steps forward, one step back. Now I'm gonna say it's Yeah, two steps back, one step forward. We're seeing more days where we're down on the semiconductors than days that we are up. And I don't like that. So again, gotta watch them very closely. Do we still want to use the weaknesses buying opportunities? Absolutely. Semiconductors are going nowhere. But if you're over allocated to them right now, be careful. Watch your positions very closely. about using either mental or physical stop losses. Watch it very, very closely. Cause these things, as you all know, can turn on you in a dime. So was really the theme. and I said, if you back to the events over the weekend, and and I for sure, you know, as I do every Sunday, these last few weeks when we get the bad news, you look at the futures at three o'clock on Sunday when they start trading, they were down. They stayed down most overnight. They were down a little bit in the pre market, and then the opening bell rings and it's like, yeah, what do you mean there's global tensions? What do you mean there's problems? What do you mean, you know, the Houthis are now involved? What do you mean all the negative things? And again, it's so amazing to see how this market reacts. But I really, honestly, feel like we are living on borrowed time right now. I really do. I feel like we're living on borrowed time. I think it's just gonna take one major event, and I don't know if it's gonna be in the Middle East or something else. One major event, an announcement by the president in regards to the Middle East tensions. Something's trip this market up. And because we remember, we've got great gains already. You know, we're little over halfway through the year. But we've got great gains. And these institutions, they do not want to give up their gains. We sit with a gain of eighteen point six percent on the Russell 2000. All of these were well off the highs. NASDAQ for the year is up nine point eight percent. S P is up eight point seven, and the Dow has risen seven point nine. So again, well off the highs of the year that we had before this whole thing started. And even even, you know, back in April when things really started to ⁓ to come around. But there's some other areas of the market that actually look fairly good. I'll give you an example. Today was a good day for Alphabet, parent of Google, of course. ahead of it ahead of its earnings release later this week. The I don't even know what they are, it's just always call them a news agency. It's called the Information. ⁓ They the company's aiming to introduce a new frozen AI chip. don't know what that means. Apple was a big drag on the Dow. This is what happened early ⁓ after the opening bell, after that we rolled over and started giving up the gains. It was Apple. Apple became very weak. ⁓ Finished down $7.15. Remember, it's a Dow component, 2.14% loss, closed at 326.59. Oracle, ⁓ 3.99% give up, $5.04 loss to $121.37. And information again reported that Oracle is facing multi-billion dollar cost setbacks in the build out of its data centers. And we're hearing that more and more, right? Construction costs are soaring, hard to find workers, it's delaying things, so on and so forth. And now We're starting to see a lot of neighborhoods really. We just had a data center canceled because the neighbors said, Nope, not here. And they threw a big fit about it. The developer said, okay, fine, we're not gonna do it here. So you're gonna see that more often in the closer they build these data centers to to urban All right. we come back, I'll hit the commodity side. Then we're gonna get into our topic. Are did you or do you know? Do you know, or how do you know? How do you know when it is time to retire? Welcome back to the John Sanchez Show on New Stock 780K. All right, let's recap again where we finished today. 307 loss on the Dow, 0.59% to a closing level of 51,839. NASDAQ down just 12, ⁓ close there of 25,508, and the SP giving up 14 points, a fraction of a percent, obviously, at 7,443. Again, the culprit, ⁓ stocks weakened. Bond yields went through the roof. Speaking which, let's go to the 10-year six basis point increase on the 10-year yield now 4.6. Millard is not going to be happy tomorrow when we talk about mortgages if these hold. Oil like I said, remarkably barely budged up 92 cents, 82.59 a barrel. Gold finish in a very quiet day, down $2.60 at $4,016 and ten cents per ounce. All right, let's to our topic. Again, how do you when it is time to retire? Again, you may have enough money to retire, but are you truly ready to walk away? Hopefully by the time I'm done with this topic, you'll have the answers to that. know, most people, or I should say for most people, for most people, retirement isn't simply a financial decision. It's one of life's biggest emotional decisions that anybody will ever make. And why? Well, for right? You've had a routine, you've had a purpose, you've had coworkers to chat with, you get a steady paycheck, you've had an identity. You know, you introduce yourself and they go, Hey, what do you do? ⁓ I do this, I do this. My title is this, this, and this. Then all of a sudden, one day, it all changes. So today I want to ask you a little bit different question. As I said at the beginning of the show, this isn't going to be a lot on the financial side. It's going to be more on the emotional side of retirement. So I want to ask you a different question. can you afford to retire, but are you truly ready retirement? To retire. Because retirement isn't just about having enough money. That's only part of the equation. Very important part, but it's just part of it. It's about having something meaningful to retire to. let's get the financial stuff out of the way. As you hear me discuss many times, we have to know what our retirement income is. That's our first choice. Where's the income going to come from? Is it sustainable? Is it variable income? Is it fixed income? Do we know what our Social Security benefit is going to be? Are we going to take it? Are we going to postpone it? Is our portfolio ready to handle a higher inflationary environment? Because remember, you're going to be on a fixed income in retirement. Those investments have got to stay ahead of ⁓ of inflation. Are you gonna find yourself, ⁓ yeah, making a nice income now when inflation is moderately higher? But what if it went through the roof? Can your portfolio stay up of that and provide enough income? How about your taxes? One of the biggest complaints I hear from a retiree, I didn't have any idea how much my tax liability was gonna be. Get hit with quarterly taxes, so on and so forth. So tax planning should be part of that retirement plan. Healthcare, again, many of you will wait until you're 65 to be eligible eligible for Medicare. Sometimes you don't have that choice. You lose your job, you decide to quit earlier. You gotta go out and buy insurance on your own. Be ready for a shock. Again, fifteen, sixteen hundred dollars a month is not uncommon of what I see for clients. That's for a couple when they have to buy medical insurance in their sixties. So the question I have for you on this is, have you stress test your retirement income under different market conditions? Right. It's easy to say, yeah, I'm gonna take five percent, six percent, ten percent, whatever your withdrawal rate is gonna be when things are good. But what you have to look at is what happens if. Let me rephrase that. What happens when? Because it's not a matter of if, it's more a matter of when. When the market goes down. And if that's a primary source of your retirement income, guess what? What may have started again as a 5% withdrawal rate when you retired and the markets were good now becomes an 8%, 10% withdrawal rate. And you start eating into that principle. Your gains are not enough to pay you and to grow the money. So the capital begins to deplete. make sure that you stress test your retirement income. Under different circumstances. All right, my second question to you. What's Monday morning gonna look like? Think about that for a second. No alarm clock, no meetings, no deadlines, no commute. You have freedom, right? That's what retirement's all about. But the follow-up on that is what will get you out of bed on Monday morning? You don't have an alarm clock anymore. You're gonna find yourself sleeping in at nine, 10 o'clock in the morning when you're used to getting up at five o'clock? Probably not gonna feel too good about yourself. So, very critical question when you decide to pull the plug and retire. What's gonna get you out of bed on Monday morning? And we'll talk more about that in a moment. Number three, are you retiring to something? are you simply retiring from Let me repeat that. Are you retiring to something or are simply retiring from something? So when we come back, I want to get into this side of it. This is gonna be one of those areas where I'm like, this could be, or some of these ideas could be your reasons to get out of bed. If you can't figure it out, What's going to get you out of bed on Monday morning? I've got some ideas for you. Welcome back to the John Sancho Show on News Talk 780KOS. Before we get back to our topic, how do you know when it's time to retire? Quick reminder: if you'd like to have a discussion with me regarding your estate planning needs, by all means, just send me an email, John J O N at specialized trust.com. Be more than happy to discuss your current estate plan. We can stress test it, see how it how it performs, see if everything is the way that you want it to be, or if you don't have a living trust, guess what? I'd love to discuss that option with you also. No for it, free 30-minute discovery meeting with me. Again, just send me an email, John at specialized trust dot com, ⁓ we'll get you on our on the calendar. Love to love to speak with all of you about that. All but once again, ⁓ we were sloppy on the Dow side. 307 lost on the Dow, but Nasdaq and the SOP were quiet. ⁓ NASDAQ at twelve points. SOP lost 14 points. All right, get back to our topic once again. How do you know when it's time to retire? So the question posed before we went to break was this Are you retiring to something? Or simply from something. Now here's what I mean. Okay, we talked about our purpose. We have to have a purpose in retirement. But what is that purpose gonna be? Volunteering, maybe travels, a lot of our clients do. Spending time with the grandchildren. Yeah, I've got two of ⁓ or four of ⁓ And I tell you what, they do take time. They can be a full time job. yes, you absolutely can spend time with grandchildren if that wants if you want that to be your purpose. A lot of clients do. How about a little part time work? You know, a lot of times people will go to work just to go to work. Part time work. Something fun, something they ⁓ enjoy. they're not really doing it for the money, they're doing it to get out of the house and have a purpose. You know me. If you're gonna do that, why don't you start a business? they want to go back and do a little mentoring, right? A little teaching. ⁓ that's a great, ⁓ thing. A lot of times it's volunteer work doing that, but get a chance to talk to young adults that ⁓ could really garner some of your your life's knowledge. and so as we move on, here's the question I want to leave you with on this portion. What excites you about the next chapter? What excites you about the next chapter? Is it some of those activities I just mentioned? Obviously there's millions more activities. Or is it, as some clients say, I want to do nothing, at least for the first six months or so. There's nothing wrong with that. Question number four, I want you to ask yourself. Who are you without your career? Who are you without your career? It's a tough one, isn't it? And again, especially for us men. Because for many people, their career becomes their personal identity. So you have to play this game with yourself and say, all right, when I'm retired and I meet somebody at a barbecue or wherever, and they say, What do you do for a living? Are you gonna be fine saying, I'm retired. As a lot of people would be. are you gonna feel like, ugh, man, I sound like a lazy butt when I just say, I'm I'm retired. Very important. And the way your mind thinks about that is if it's the latter where you're gonna feel a little embarrassed, that's again where you may want to say, Hey, you know what? There's something I need to do. Whether you're say I'm a volunteer at this place or I started this small business after I retired, whatever it is. Or again, you just may say, I'm retired and be perfectly fine with that. Nothing wrong with that whatsoever. Question number five. retirement bring you closer to your ⁓ No talks to you about this. Think about this, men, specifically. If had wife that is her job has been to take care of you and the kids and the house and hardest job in the world, right? And now guess what? You're gonna be sitting with her 24 hours a day, seven days a week. I've shared the story many times, and I'll say this. One more time very quickly for those that are maybe new to the show. was a brand new broker two or three years into my career. And father, who was an aircraft engineer, retired. And I'll never forget. I was I was living in in Bakersville and I my mom and dad were here in Reno. And I called mom and I said, Hey, mom, you know, hey, tomorrow's dad's, you know, last day at work. Are you excited to have him home? And she God no, son. So what are you about? She he goes, she goes, Do you know how he's gonna screw up my routine? Because my mom was always a stay-at-home mom and she had a routine, got up at the same time, did laundry at the same time, did everything at the same time. And now here comes this man that, you know, they'd been married for about fifty years at that point, but he'd always worked. They got married when he was 18 and she was 16. So they'd been together a long time and they had their routines or she had hers. And so it took a lot, a lot of adjustments. And that's always stuck in my mind. Because again, many people are fine with their spouse. As long as you know they see them up from five o'clock till nine o'clock and go to bed and wake up and so on and so forth, then you then you're getting on the weekends. There's nothing wrong with that. Not every couple is meant to be together 24 hours a day, seven days a week. So again, is this retirement going to bring you closer to your spouse or is it gonna create a new challenge? So what you have to do is this got to have a heart-to-heart discussion. ⁓ typically will have a discussion in regards to the financial side of it. Look at here's what we can expect. Either our income's gonna go up, down, whatever it may be. So they talk about the financial side of it. But I've yet to see a couple talk about what life is going to be like together. Are you ready to spend more time together? I hope you are. But also at the same time, my experience is sure that you give each other your space. Make sure you give each other your space. Because the last thing you want to do is again be together 24/7 and You know, both of you or one of you feels smothered. Live your life, right? Live your life. your hobbies. Communicate. You know, if one of you starts to feel a little bit uncomfortable, we're like, I love you, honey, but you know, I see it from ⁓ in the morning till nine o'clock at night. I a break, right? It happens. about your goals. What is it you guys want to accomplish? I'm not talking monetarily. What is it you guys want to accomplish in retirement? Hey, we want to travel, we want to go see the grandkids, we want to do this, we want to do that. you may be surprised how much commonality you have, but at the same time, you may be surprised when your spouse wants to go do something that either you don't want to do or you're not gonna do. There's a lot of people, you know, in retirement that take separate vacations from their spouses. Again, nothing wrong with that. So what life is gonna be like. Again, not the financial side of it. But make sure that you have that discussion with your spouse as to what retirement is really going to look like. Question number six, are you healthy enough to enjoy retirement? It's like a stupid question, isn't it? But it's very serious. Your physical health, your mental health. Are you able to travel? Are you able to do activities? Do you have the energy? Don't wait so long to retire that you no longer have the health to enjoy everything that you have worked for. You know, it'd be amazing. It's kind of scary, but it'd be amazing if we all had a crystal ball and said, Yep, at 72 years old, my knees are going to give out, or my hips are going to go out, or whatever the case is. Wouldn't we all live our lives completely different? You go, and you live every single day to the fullest. But we don't know that. So what do we do? continue to work. Enough is never enough. And before you know it, a health event happens, and then it's not your choice. Your body has said, ⁓ it. You got to slow down, or God forbid you die. Don't do that. Don't wait so long to retire that you no longer have the health to enjoy it. Because then you have no purpose to get out of bed. That is a miserable, miserable retirement when you just physically cannot do anything. it's becoming very prevalent, especially, you know, in in with those that have had physical careers like you know, construction and so on and so forth, warehouse work, those type of things, takes its toll on its body, on our bodies. So factor that in and when you decide you want to retire. Question number seven, what are you leaving behind? So when it's time to retire and you're trying to figure out how do I know if it's time, you gotta ask yourself, what am I leaving behind? Am I leaving behind friends? Well, common thing that I hear among clients is, yep, I retired and you know, a lot of my friends are still working. We get together once in a while, once a month or something, go have a beer and a burger, or you know, maybe we'll get together every other, you know, few weekends out of the year, of course the holidays. That tends to wane over time. Maybe your situation would be different, but that that again, that tends to to to kind of go by the wayside. So we all have close, you know, a handful of f good friends. Cherish those relationships. They're even more important in retirement. And hopefully your friends are retired too. That way you guys have the freedom to go do things you want to do. What else are you leaving behind? You're leaving behind a routine. And as I've joked with you over and over again, just to bear my soul, man, the older I get, the more routine-oriented I re I become. It's it's got to be the same thing every day, as boring as that sounds. That's what makes me the happiest. That is hard when you go into retirement because you have no routine now. That is, unless you make your own routine. Some of my successful happiest successful clients get up, they don't have to get up, you know, five o'clock like they did when they had to go to work, but they get up at the same time every single day. They get up early, they exercise, eat well, maybe a little bit of spiritual time, some private time. They have a routine. We as human beings, especially older human beings, That's the way our bodies and our minds work. We like the same thing over and over again. The other thing you may be leaving behind, professional relationships. Same thing as the friends. Yeah, you probably stay in touch for a while, but then after gone and retired, yeah, you probably lose some of those. Doesn't mean you can't pick them up. Leadership. ⁓ this is a tough one, as I've said, with men. Men especially like to be needed and wanted. Who are you going to lead now? Your wife? Your dog? You got to find a gap for that. And that's where some of the volunteer work would come in. You're gonna leave behind recognition, right? How many awards do you have sitting on your desk right now as you contemplate retirement? Probably quite a few. Do they mean anything to you? If not, perfect. If they mean a lot to you, you gotta think about it. What are you gonna do for recognition? So I'll wrap you up on this question. Have you prepared emotionally for those changes? Let's go to question number eight when we come back. Back to the John Sanchez show on News Talk 780K, which all right, let's get back to our topic and wrap things up here for you. again, I've been discussing how do you know when it is time to retire? All right, I'm on question number nine for you. Have prepared your estate plan? If you haven't done it by this point, this is ⁓ absolutely deadline when you need to get this done. You need to make sure you have your revocable living trust in place. You don't want to lose everything to probate by just having a will. Have your financial power of attorney, your medical, your healthcare, your beneficiary review, all of the things we talk about that we offer at specialized trust and estate plans. You gotta have all that, folks. Again, many people put it off and they go, you know what? I just heard it the other day, matter of fact, from someone that contacted me. Yeah, I'm gonna retire in a couple years. I'm just gonna wait until I'm ready to retire. It's like, no, you don't wanna do that. Get it done before retirement. Well before. Well, well before. Question number 10. Is your family ready for you to retire? And I knew when I made up this point, many of you are gonna go, to heck with them. Why, why, why am I gonna ask them that question? you really don't have to. I touched on the spouse side of things. But the children, the grandchildren, maybe you're still taking care of your own parents. Caregiving. Will retirement change your entire role within the family? One of complaint that I hear from clients. That have grandchildren or great grandchildren, hey, my kids think that I have no life, and therefore I've now become the permanent babysitter for them. the boundaries. Set the boundaries. You know, spend whatever time you want with your grandchildren. But make it very clear, unless you want to, make it very clear with your children that you know what? Mom and dad, we we we've got freedom now. We don't want to be tied down babysitting every single day. So that's a fun one. All right, to our next one. What do you want to leave? Do you want to leave it leave a legacy of money? Do you want to leave a legacy of values, traditions, faith, charitable Whatever it is, I think most not everybody, but most people do want to leave a legacy. And you know, as I was discussing with my son the other day, I said, you know, the greatest thing that a father can do is to leave this earth, and this goes for Moms too, but I'm a dad, so I'm gonna speak for myself. Is to leave this earth knowing that you have left an impression on your children and if the grandchildren are older. He said, What do mean? said, Well, think about it. Most people are the product of their parents, how they were raised. Sure, some go their own path and things, but for the most part, the values you instilled in your children when they were young carried them through when they were teenagers. Hopefully. Hopefully they didn't deviate too much. And then into young adulthood, and now that they're parents themselves. How to treat your spouse, how to discipline or you know, raise your children, those type of things. To me, that's one of the greatest legacies I can leave. I'm very proud of the way I raise my children. So you can teach them about money. Okay, big deal. But really the values in my book is number one. family traditions. Well, I hear this from my kids the older they get. They never appreciated family traditions before. You know, stupid little routines at Christmas time or different that type of thing. Well, the older they get, the more they value those. So that could be part of your legacy. Obviously, your giving, that one again up to you. Some people like to give to charities, others like, you know what? I would rather go. Give a hundred dollars to some you know, family that's in need than to donate it to whatever charity. That's again, that's completely up to you whether you want to wanna do that or not. But the question you need to ask yourself is how do you want your family to remember you? had a ⁓ I had a friend the other day ⁓ tell me about a book that he had created that was fabulous. It was like a like a ⁓ like a book, like a a biography of his life. And it was beautiful. I had pictures from growing up and ⁓ He also wrote in their values and ideas and things like that. So there's a lot of different ways you can do it. So here's the final questions I have for you. If you retired tomorrow, what would you do in Monday morning? What excites you the most about retirement? What worries you the most about retirement? Have you and your spouse talked about your retirement expectations? Are you retiring because you want to because you feel you have to? There's some questions to think about. God bless. Have a great afternoon. See you tomorrow on the John Sanchez Show.