Money with Marty: Managing fees in retirement (Financial Safari)
There are many fees related to financial planning. Find out they can make a big impact on your financial performance.
Bruce Financial Safari. I'm Chuck Keeton and it's money with Marty Time and Marty Hensley is a financial planner extraordinaire and a true fiduciary here at Capitol Financial. And I think that when an investor comes in somebody that is getting close to retirement age as I am I know, uh, I don't want to pay too much to any service, whether it's for gas or for property taxes. But certainly when I come in and want to see my 41 k grow or get suggestions from a true fiduciary like Marty Hensley and those here at Capitol Financial, I don't want to be paying extraordinary fees. And you're not going to with a fiduciary, You might explain, because fees are the little financial termites that eat away at your entire investment portfolio. That's exactly right here. Capital Financial one of services that we provide for our potential clients is we give them a true second opinion. The major portion, in most cases with that second opinion, is looking at those fees and expenses, and Coach Pete talks about it on our show all the time. Financial termites. We'll see clients that air fully invested have money invested fully in the market and they said, Marty, I don't understand. I'm seeing a return of 6% or 7% and the markets up 10 12 15% year to date. I don't understand. We go in and we do that analysis for them and we go in and dig out and look at those fees and expenses. And we find out that those fees and expenses that are embedded in those accounts, which in most cases declined isn't even aware, is the difference between their return and what the ice or turn was of the market. I mean, these these fees could be if you have an annuity that could be fees associate with your annuity. They can be fees that are in a non fiduciary managed account. That's critically important. We can look at in activity fees and brokerage accounts. There's brokerage accounts out there that if they they say stagnant and you don't do anything with those for appear to time, they'll start charging you fees. On top of that, we'll also look at mutual fund expenses. If anybody is watching today and you have mutual funds and you're concerned are less mutual fund expenses, are they too high. Should they be something that I should be concerned with? That's when you need to reach out with us, that capital financial, because will help dig those out and when it's not necessarily a fee, but something it absolutely plays into. Every retirement plan that we see is inflation. How is inflation going to affect my retirement? 357 10 years down the road? Do I have a plan that takes account of inflation? And I am I keeping pace with inflation? That's where we talk about having too much money in the bank. It's F D I C. Insured, and it's safe. It's safe. But that's how you go broke safely because you're not keeping in pace with inflation, Chuck. Absolutely. And when we talk about those brokerage accounts, the famous phrase around here in Capital Financial brokers may make you broker. What a great segment. There with Marty Hensley, one of our advisors here, a capital financial. Now I love how he used the analogy of financial termites. This is something that you use on the radio is something that you really have pioneered makes this concept very easy to understand, and the brokers make it. Brokers kind of make you record. That was very funny. And again, everyone has a job to do, and the broker's job is to keep you in stocks. That's what they're paid to do. And so you can't get madam. You have to know that what their job is when you go the car lot, you talk to a salesman. What is your job so you can get mad about Try to sell you a car? You know, a lot of times you walk up to me and I'll say, just browsing and same thing financial. What a lot of you're just browsing, but it's very important to make sure you understand all the facts so that you can browse with confidence and knowledge and helps you make a decision. If you just browse on Google all day long, you're never gonna make a decision because there's millions and millions and millions of of sites that are gonna confuse you. So let's make sure that you get your very own plan put together based on Marty's concept, based on our concepts here at the firm, and we will wave over fees that's over $1000 value to put together your very own plan to give you a box set. A DVD set is what was the book set when you call right now? Fantastic. The number to call folks is 888910 80 to 65 8889108265 You can always text breeze to 21,000 as well. To get started, that's breeze to 21,000.