Latest / The Jon Sanchez Show / Your Personal Retirement Comeback Plan
Transcript
- Jon G. Sanchez, CEO: Good Wednesday afternoon to you. Welcome to the Jon Sanchez Show on Newstalk 780. Can't wait. It's pleasure to be with you. you had a great hump day, as the old saying goes. Remember how great that commercial used to be, that hump day commercial? I which company did that. Yeah, I always think of that on Wednesdays. Anyways, thanks much joining me. I do appreciate it. Gonna make this hour definitely worth your while. Your personal retirement comeback plan. That is gonna be my focus for you after I get through my stock market recap and what a day it was to talk to you about the stock market side of things, of course. But let me get right to the topic. know, if you're 50 years or older, you've heard me say this many times over the years, there's light bulb, and I can't explain why, but it just, happens. There's a light bulb that goes on in our And again, some reason it happens at 50. I don't know if it's like you go, hey, you know what? I've got maybe you know. 12 to 15 years, you know, get me out of this business or this job by the time I'm 65. Okay, I can do that. But here's the situation. If you're 50 years or older and that light bulb has come on, let ask you a question. Do you feel like you're behind? Behind the retirement eight balls, I like to call it. Well, if the answer is yes, trust me, you are absolutely not alone on this one. But I've got some really good news for you. You are by no means, no means are you out of time. Today I'm gonna break down some real actionable strategies. to play what I like to call the retirement catch up, comeback plan. I'm be talking about from maximizing contributions to building income rapidly. Because many of you may be thinking, you know what, did I miss my window? it too late? I hear it all the time, folks. I hear it all the time. And the answer is no, not. There's always time. And that's what today's show is gonna be for those of you that are going, need to this, right? My personal retirement comeback plan. gonna turn things around for you March 25th of 2026. This is where you're gonna turn a new page when it comes to your retirement side of things. So really excited, got some great material that I wanna share with you on that side of it. But let's down to the stock market side of things today. what a day it was ⁓ once again. Ups downs and all over the place, right? ⁓ is ⁓ absolutely norm what we have experienced day in and day out. But I need to go back to yesterday to kind of build up until really happened today. So remember yesterday, I spent a great deal of time on the show with Aaron talking about the situation that the US proposed to Iran. A 15-point plan. These are the things that we want. And we still, I don't know about you, but I have not been able to come across that plan. I don't know if they've made it public. I don't think they have or I think I would have seen it. But don't know what those 15 points are. But yesterday, Iran came back a couple times and said, first all, they're not talking to us. And number two, we're not interested in this plan. So we roll into today and then we find ourselves in a completely different situation. Iran was the calling the shots today. Iran. set a five condition rule. for the war to come to an end. I got my hands on those five. You ready for this? Here's Iran's rules for bringing this war to an end. Tell me if you think any of these. plausible, any of them, and especially the last one I'm going to share with you. So Iran's five conditions to end the war are as follows, and this is according to Iranian Press TV. Number one, a complete halt to aggression and assassinations by the enemy. I assume they're referring to us. So complete halt to aggression and assassinations by the enemy. Number two, the establishment of concrete mechanisms ensure that the war is not reimposed on the Islamic Republic guaranteed and clearly defined payment of war damages and reparations. So in other words, they want us pay them. and to promise that we'll never harm them again. it gets better though. Number three, guaranteed and clearly defined payment of war damages and as I said. I'm sorry, I kinda combined two points Okay, so now we go to number four. The conclusion of war across all fronts. and for all resistance groups involved throughout the region. the war across all fronts and for all resistance groups. ⁓ that's, you the Houthis, that's all of these ⁓ cells they have everywhere. Yep, that means no more war for them. But here's the last one that is the absolute deal killer in my mind. I'd be shocked if Trump agrees to this one, but here we go. International recognition guarantees regarding Iran's sovereign You ready for this? to exercise authority the Strait ⁓ Hormuz. Let me read this to you one again. International recognition, in other words, we come out and say, hey, the Strait of Hormuz belongs to Iran, so international recognition and guarantees regarding sovereign right to exercise authority over the Strait of Hormuz. ⁓ So supposed to tell the world that, this Strait of Hormuz belongs to Iran, and guess The second part is, They have full authority of it. They can say when ships go, when they leave, they can do everything. Now do you really, really think that the United States of America is going to agree to this? Well, the answer is no. So this morning when Iran released this data, I thought to myself, well, here we go. We're going to see the market completely, because we had some really good gains. We're up over 400 points. Oil was down a little over $5 right before the open. Then this news came out. We finished down $1.96 on oil, so it crept its way back throughout the day. But I thought for sure the market would have went, uh-uh. This thing is a, it's a non-starter, right? It's an absolute non-starter. But the market held in there remarkably well. And I think that was the biggest shock. So here's the new strategy, the new theme for the market at this point. I think we're gonna be just fine in this market. as long as there is some glimmer of hope through negotiations this war is going to come to an end. That seems to be the way the market is reacting at this point. So we saw it yesterday when of course the president made those comments that no more, not gonna give them five days, no bombing like it was supposed to happen over the weekend, or bombings I should say on the infrastructures, a lot of different things. All that came about yesterday. And of course the market gave us 84 point loss yesterday, which by no means is positive territory, but at the same time, it wasn't a big sell off like we experienced last week. So then you take that market rebounds on the 15 points that we sent, which I was surprised about that one also. I don't know if you were. I was surprised that we initiated the of the war. I thought for sure the president would have waited for Iran come back. But we know he's getting pressure from a lot of countries, as I shared with you, to get thing over with. Obviously the energy markets, the stock market, the bond market, everything is relying upon this war coming to an end. But then Iran came back and know, when I read those five points that I just shared with you, I thought, well, they're kind of taking a page out of Trump's negotiation playbook, right? ⁓ for everything and then settle for somewhere in the middle, right? That's what negotiations are about. No one's gonna get everything that they want. But I also thought it was kind of, you know what, I'll use the word gutsy, but you the real word I'm thinking about, that Iran, in their situation, no Navy, no Air Force, pretty much know nothing other than a bunch of oil in the ground and a lot of minerals and things. Has the guts to come out and say, those things I just mentioned, especially that last point where we recognize them, they can control the strait, which ⁓ think about that, that's what this whole thing's about. It's what it's boiled down to, being able to control the strait, getting the ships coming through there. So I did not see any comments whatsoever from the Trump administration today in to, Whether they're like, hey, these are good starting points or this thing is stupid. Why they even waste their time writing this. Nothing along those comments. So the market today, like I said, started off strong, back down a little when Iran came out with those points. And then we spent most of the day near a 300 point gain on the Dow. And we kind of closed right there. We were between, I'd call it about 250 to 400 at our best level. But most of day it was between 250 and low 300. And that's exactly where we closed 305 gain on the Dow 0.66 % close to 46,429. Nasdaq rose 168, three quarters of a percent to 21,929. And the S &P up 36 points or 0.54 % closing at 6,591. Like I said, $1.96 loss on oil, 90.33 a barrel. So, you know, again, we're in that $90 area, which again, very surprised the market was this resilient, but it's got the hope, the glimmer of hope that this thing's going to come to an end. So very surprised, but yeah, 90.33 a barrel. Gold soared today, $150.20 rise, 4,551.20. And we got a nice pullback in the bond market, six basis point loss to 4.33. Now I wanna stop right there and analyze for you a little bit those last two that I just mentioned, the bond market and gold. So now the market is starting to act, and this is another positive sign, the market is now starting to act like it should, meaning strong day in the equity markets. Bond yields go down, gold going up, so on and so forth. So it feels like this market feels like it wants to rally, but it just needs more confirmation. I think if, willing, we get both sides to come out and reach an agreement, I think you're gonna probably see a ⁓ rip face off type of rally in this market, I really do. Because you can sense that the institutions, the algorithms, et cetera, they wanna buy. I'm seeing, hearing no panic on the retail investing side. ⁓ It's all up to the algorithms and the institutional investors that control those algorithms say, here the conditions that have been met, so therefore let's rally this market. That's what I think is going to happen if some type of an agreement. Like I keep saying, my two concerns, if we get oil closing for a couple of days above $100 a barrel, and I think we see boots on the ground, those are the two things that can just stop this comeback momentum that we've been here these last few days. Critical juncture, there's no doubt about it. I'm gonna hit some of the movers when we come back and then we're gonna get down to our topic, your personal retirement comeback plan. Let's turn it over to Kristen Snow, right now at Traffic Center. Hello, Kristen. Back to the Jon Sanchez show on New Stock 780KOH. Hope you had a great day today. Not a bad day in the market. 305 gain on the Dow. Nasdaq rose 168 and the S &P higher by 36. Once oil prices for the day. Best level, they were down over five bucks. That was early this morning, the five o'clock hour. Finished down $1.96. So they clawed their way back to $90.33 after Iran gave five point plan for this conflict, this war to come to an end. All right, get down some of the movers that were going on today. because we're finding ourselves in a situation where you are searching, right? Investors are searching for some errors. They want type of, I hate to the word guarantee, but almost a guarantee that if this conflict lasts than expected, if things don't quite happen as as they want this thing coming to an end, et cetera, ⁓ that they're gonna find themselves in situation where it's like, boy, why did I put myself back into the market? Why did I put some of that cash to work? They to be able to, ⁓ again, hedge themselves. And so what we're seeing is days were ⁓ not much buying on the dip as the saying goes, ⁓ but like today were, felt pretty overall. ⁓ Investors are okay, I'm feeling good. can begin to get myself back into this market a little bit and like I put a little bit of cash to work or ⁓ whatever the case may ⁓ But I'm not seeing amounts of volume or huge amounts of real buying enthusiasm anywhere. It's just kind of the nibble a little bit. And one day, area will be well, and the other day, another area will be. So that's a good sign, kind of diversified. We're seeing that some of the sector growth, not specter, sector day by day. I think caution is still the minds of investors. I don't know if you're feeling that way or not, ⁓ but it seems to be norm. Now let's get to some of these movers. Newmont had a great move today, up $2.52. Remember, gold had a $150.26 rise. Newmont was up 2.54%, $2.52 to 101.54. Amazon was a good one, $4.47 increase, up 2.16 % to 2.1171. Carvana, nice move there, no concern about the consumer, the way the stock acted today, up $7.61, 2.53 % rise to 3.0858. Another strong day for Nvidia, 2 % rise, $3.51 to $178.71. You had advanced micro devices, $14.90 gain there. Sandisk, down $24.62. Micron, down $13.44. So once again, saw a strength in specific areas, is what I was saying earlier, of the semiconductor arena. Let's see. When I mentioned Google, $0.39 gain, Meta was up $1.97. Both ceded nearly all of their earlier gains after a jury found the company's liable in a landmark social media addiction trial that happened down in Los Angeles. So that, again, kind of wiped them out. then remember, what was it, Metta yesterday? They got their hands slapped. They're going to be writing a check for some money to the US government. So yeah, the week of lawsuits for Metta, by all means, and then throw Google into the mix. OK, so you're now up to date on this market. Let's get down. Let's get an early start on our topic. once again, we're gonna be focusing on your personal retirement comeback plan. If you're age 50 and you're like, my God, I'm have the absolute most miserable retirement, I started too late, or maybe you got subjected some severe market losses at some point, whatever the reason is, you find yourself behind that retirement eight ball as we like to call it. So just to sure you again, don't feel all alone in this thing, according to NerdWallet, The savings, I'm not the average, let me refer to that. The median retirement savings for over age 50 is $115,000, that's it. That's what the median is in this country. So we've got to retire, we always have, we'll always probably always have that, a retirement savings problem. But once again, we find ourselves when we're 50, that light bulb goes on here and I've this, I've counseled clients on this over the years. feel like giving up hope. You're like, man, 15 years down the road. ⁓ There's way I can do it. And of course, Wall Street says, unless you got two, three, four million dollars, you're gonna have a miserable retirement. You know, I'm 100 % opposite behind that one. So let's talk how we correct this problem. Let's get a little jump start on this. So the first thing I'm gonna talk about when we come back from the break is. the catch-up contributions, right? This is a massive opportunity. Now, do you have to have the cash flow to do it? Absolutely, but I'm gonna help you some little bit better personal cash flow. But I'll tell you one thing that has changed for the positive that the government has done over the years, and that is slowly but surely they've increased the IRA contributions, the IRA catch-up contributions, the 401k the 401k catch-up contributions. So the government encourages you. and gives you a great advantage to save for retirement. So again, in years past, that wasn't the case. I remember when I started in this business, it was $2,000 IRA contribution. Now if you're over 50, can do a heck of lot more than that. Same with 401Ks and other types of retirement plans. So you can do it. You can catch it, especially if you have a spouse that's eligible for some of these catch-ups that I'll cover. So don't give up hope. That's the main thing. I'm going to show you how to get out of this. When we come back, let's turn it over to Mr. Jim Poston. He's got news traffic coming up. Hey, Jimmy. Welcome back to the Jon Sanchez Show on the stock 780k. Which all right, once again, we finished up 305 on the Dow, then NASDAQ rose 168, the S &P a gain of 36. All right, your personal retirement comeback plan, right? Focused on those of you 50 or older. Time is a wasting. You feel there's no chance that you're gonna have a successful retirement. But I'm gonna help you out. We're gonna make it happen. We're gonna make this a successful retirement for you. Let's get down to our topic. As I told you, according to NerdWallet, The median retirement savings over age 50 in our country is only $115,000. So lot of people, this is why so many people rely upon Social Security, right? Because they just haven't had a chance for whatever the reason. ⁓ were lazy, they couldn't afford it, life events happen, whatever the case is, doesn't matter. That's the past, they weren't able to save. But now you can find yourself in a situation where if you've got the cash flow, and I'll just forewarn you, you're gonna have to ⁓ figure some way to get some cash flow, which I'll help you out with here momentarily, you can save a substantial. sum of money. So I call it the catch-up contribution advantage. Okay, you ready for these numbers? find a lot of people are not aware. Just got off of a call a couple hours ago. We're not aware of the new catch-up rules. All right, so here's how it works. Okay, I'm gonna break this down to your IRA and your 401k. So. These are 2026 rules. Hopefully you were able to contribute to your IRA for 2025. The amounts are a little bit less, but these are the new rules for 2025, or excuse me, 2026. All right, remember when it comes to an IRA, it's broken down below age 50 and above age 50. So if you're younger than age 50, you can put in $7,500 now into your IRA, and that's traditional or Roth. Okay, so under age 50, 7,500. If you're age 50 or older, and actually that's way it used to be, but now I'm gonna that go, ⁓ you're age 50 to age 60, and I'll explain why I'm saying that, you can put in $8,600 into your IRA, okay? Now why do I stop at age 60? Because people not know ⁓ that, what it, last year or the ⁓ end of previous year? I can't remember. The contribution or catch-up rules change for those age 60 to 63. You see, if you're age 60 to 63, you don't get to do the $8,600 catch-up that I just mentioned. You get to do $11,250 from age 60 again to age 63. Pretty substantial, right? So that's the catch-up on the 401K side, the 11,000. 250. So let's break this down. You can put in $8,600 into your IRA if you're over age 50, $7,500 if you're under age 50. If you're over age 50 your 401k, you can put in If you under age 50, well, let me break this down a little bit better. Let's start with the 401k amount, $24,250. That's what everybody gets to do. Okay, about 50 or older, tack on another 8,100. So that brings you to 32,600. 32,600 in the 401k. But if you're age 60 to 63, again as I just said, you can tack in another 11,250. So you take the 24 or five plus the 11,250, you can put in $35,750 into your 401k on top of your IRA. Now of course if you're contributing to a 401k, in most situations, there's a few little rules, your IRA is not gonna be tax deductible. So you're probably looking at doing a Roth or just an after tax contribution. Okay, so one more time, let's break these down. IRA, under age 50, 7,500. 50 or older, 8,600. 401K, everybody can do 24,500. If again, you're age 50 to 60, you add in another 8,000, bringing your total to 32,600. If you're age 60 to 63, you get to do 11,250 contribution or catch up. So a total of 35,750. So listen to this math. Listen to this math. If you're age 50 or above, your $8,000 IRA contribution, your $32,600 401k contribution in catch up allows you to put away $40,600 per person. $40,600. Now, obviously if you're married, that would be what, $81,200 that you could sock away if you had the cash flow to do so. If you're age 60 to 63, again, 8,600 into your IRA, 35,750 into the 401k, $44,350 is what you could put into your retirement between the IRA and the 401k. Multiply that times two, you and your spouse, $88,700 a year. Almost 100,000 you could sock away and grow tax deferred. You see, the ketchups are there. Once again, you gotta find the cash flow to be able to do it. if you have it, ⁓ this is what I'm finding, a lot of you do have the catch up, or I'm you have the cash flow, but you're only putting enough money in to get your company matched. You don't wanna do that. You wanna exceed that company match. Now you're here with the numbers. Substantial sums money. So let's go to the other situation to make our personal retirement come back. A lot of people feel that if they're, again, behind the retirement savings curve, they need to be really conservative. They need to go, oh boy, if the market goes through a correction, I cannot afford to lose anything. Again, it always boils down to your personal situation. But if you're, once again, 50 to 60 years old, you got some catching up to do. Doesn't mean you need to swing for the fence and try to hit a home run. It means you need to hit a lot of singles, doubles, and a triple every once in a while. That means you need to be in the market. don't be too conservative, right? That could be a major mistake. You could cost yourself a lot of money ⁓ the next 15 years. ⁓ money that you need. So don't settle kind of for mediocrity and minimal incomes. Don't throw it in or minimal growth. Don't just throw it into a bond fund or something along lines. You need some growth. But at the same time, be careful. Like I said, don't swing ⁓ for the fences, it's true. If we go through a long-term market downturn, that could really, really delay the plans. So good diversified portfolio, heavy on the equity exposure. The income strategy, right? This is really what matters more than the account balance, as you've heard me say many times over the years. It's not about the size of your retirement accounts when you're trying to retire. It's about the monthly income. So if you go, yeah, Jon, those numbers sound really good, but where in the heck am I going to get, you know, $50,000, $60,000, $70,000, $80,000 a year between my spouse and I at Sockaway? I get it, right? That's reality. Either you can or you can't. So now what you need to do is focus on not on the size or where these accounts are gonna be, you need to focus more on what kind of income can I produce from little I have or from other sources. So you can start looking at things as dividend strategies, portfolios that produce income, not so much growth, annuities when used correctly. And then of course, one of my absolute favorites, go start a small business. Open yourself up to tax deductions, to unlimited income. ⁓ as many hours or as few hours as you want. That is the number one strategy. that I've helped clients with over the years that were behind the savings goal. Helping them narrow down what they want to do, what their passion is once they retire, or even while they're still working. Get a business launched, get all those advantages I just mentioned, and then frankly, you don't care about how much money you have in your investment account. If you're pulling in, I don't know, pick a number, five grand, 10 grand a month from a side business, do you really care if you have? $100,000 in your retirement accounts or $50,000 or anything along those lines, really don't. That's great thing. You really don't care anymore because it all boils down to this. It all boils down to having enough income to give you the retirement lifestyle that you want and that you need. again, over career, I've come down to these people that they just did not have enough money and frankly, a lot of there's just not enough years, working years left. that they can really save away. I'll tell them, don't put the money in the market. Don't scrimp and scrape and try to an extra 20 grand a year or something. It's not worth it. You're better off to put that money into a business. Get a business started where you have unlimited income potential, tax advantages, et cetera, like I said. Okay, so let's go to ⁓ next way that we this personal retirement comeback. Eliminate some financial drag. In other words, get rid of the high interest debt. Get rid of the credit cards. ⁓ Become efficient in your life. Right? Congregate old monies that are sitting around. Many of you have changed jobs many times. Did you consolidate your 401Ks? Did you move them into IRAs or did you move them into your new company's 401K? Or did you leave them behind and you don't even know how much they are or what they're invested in, how they're performing? Time to get serious about this, right? Get that big nest egg put together. I've seen people that have numerous, like over five old 401Ks, and just didn't know what to do with them. And so, guess what you can do? Again, you can roll them into an IRA and hire an advisor or manage them yourselves, or you can move them into your current company's ⁓ 401k. But once you do have one big lump sum of money working for you than all these other accounts that you're not even paying attention to, that can equate to a lot of substantial money down the road and retirement income. When we come back, let's get into the 10 year power window. Let's wrap it up with Kristen Snow. She's in the Right Now Traffic Center. Hello, Kristen. Welcome back to the Jon Sanchez Show and News Talk which I hope you've enjoyed the topic, the personal retirement income comeback plan, or a personal retirement comeback plan. I'm talking about income now. I'm so excited. Talk about income. All now, before we start wrapping things up, we've only got a couple minutes here. I want talk about the 10-year window, right? You've heard me mention this many times. Age 55, 65. That is a critical time period, right? That's where you got to get serious about things. You got to consolidate those old accounts. got to... put every dime away that you possibly can. You gotta think about starting that business if that's the direction you're gonna go. generally this is gonna be your peak earnings years, ⁓ if you're gonna, you know, maybe you're a city, state, or county employee, ⁓ wanna bump up those earnings, those last three years of earnings to get the highest PERS income and so on and so forth, or if you ⁓ work the private sector as far as the pension, those years, just absolutely critical. Peak earnings years, peak savings years. So remember, it's the time period you don't wanna take any, major risk on that and go through a long-term market downturn. Nothing is, seen this enough over my life. You've all these great retirement plans, you've saved up, everything's fine, and then, Doug on it, Murphy's Law strikes, here comes the major market that lasts for number of years, and you're like, yep, gotta work another five years. That's just heartbreaking, just heartbreaking. Tax strategy, another major problem. is why your personal retirement come back plan has to include a tax proportion. So people out on and crazy places will say, ⁓ just convert your IRAs to a Roth, because Lord knows taxes are always gonna be lower than where they are today. Rarely does it make sense when you're 50 plus to do a Roth conversion, because what a lot of people fail to remember is, That money that you lose to taxes, because remember, if you convert a traditional IRA to a Roth IRA, that's taxable income. got to pay income tax on that. So let's say you convert $100,000 IRA and you're in the 20 % tax bracket. ⁓ guess what? You theoretically, you just lost $20,000 to income tax. You've got to make that back before you get back whole. So be very careful on the Roth conversions. Don't sit there and listen to people that say, ⁓ it's just a slam dunk. It's not. Not at all. Tax-efficient income planning, hold another subject I wanna cover, remember this. All of this can come together with two things that you have to do. Number one, hire a professional to help you, right? ⁓ very difficult to sit there and write your own financial plan, monitor implement it, critique it, so on and so forth. So hire us, hire a pro that does this for a living, and you'll be amazed what an income plan can do for you. And lastly, if you hire us or any other professional, you're going to get a written plan. This is what you need. Like I always say, it's the GPS to your retirement, point A to point B to point C to point D. Without plan, all you're doing is you're just guessing. It's absolute guesswork. Without a plan, you don't have any clarity. You don't have any confidence. You don't have any control. And so that point, you find yourself panicking because you ⁓ feel panic at age 50, but to your 60, 62. and you're going, oh man, I don't really have any time. So you don't need to do that. Hire us, we'd love to do it. All right, if you wanna get in touch with us by all means, just give the office a call, 775-800-1801 or online at sanchezgott.com. Hope you enjoyed the topic, tell all your friends about it. We're on YouTube and all your podcasting sites. God bless, have a great afternoon. We'll see you tomorrow on The Jon Sanchez Show.