Name: Retirement Help Center Ep. 7 Income Diversification
Uploaded: 2023-03-16T00:00:00-0400
Duration: 377453
Description: Warren Buffet said, 'Never depend on a single income." How are you apply this principle to establish a secure retirement?

Shortages of teachers, infrastructure and technology workers will hamper schools' ability to provide the best education, facilities and tools to children, Superintendent Robert Taylor said Thursday.

Higher employee pay will be key to running Wake schools smoothly, superintendent says

Wake County Public School System Superintendent Robert Taylor speaks to the League fo Women Voters of Wake County, April 18, 2024

Consumer Reports surveyed more than 2,000 members who shared their experiences with pet insurance.

Is pet insurance worth the bark? Survey reveals middling results

Pet insurance

Warren Buffet said, 'Never depend on a single income." How are you apply this principle to establish a secure retirement? 

Warren Buffett once said, never depend on a single income, make an investment to create a second source. More than one out of 10 Americans rely solely on social security for their income. Even though there are so many different strategies you can use to prepare for retirement. So the question is, how are you creating a secure retirement? From the beginning of time, the stock market world has always talked about diversification, stocks, bonds, mutual funds, all three of those, the main problem, they have risk. So we need income diversification. We need to make sure we have income streams coming from many different places. We need to make sure that when we approach retirement, we can flip on as many of those switches as we want. And we have some of the other ones to continue to grow. Having that proper diversification gives you several streams of income. So just in case one stream is interrupted, your retirement isn't there's more to having multiple income streams than simply putting money into different savings accounts. Timing is one of the most important parts of income diversification where you are on your journey to retirement to determine where your savings are going. Income diversification does change and fluctuate a lot by age and that can go into if you hiring sooner than expected or later than expected. A lot of people don't realize the pros and cons of taking money from certain accounts or from certain sources. Some pensions you can only use at certain ages. Social Security. Of course, you can only use between 62 70 R M DS. Those required distributions from retirement accounts. Those are at 72. I mean, you need to have proper understanding and a lot of the time when I see people that are retiring sooner because they want to be able to enjoy retirement. They don't realize that there are certain ages that they can't pull from investments, that's their money without a IRS penalty. And there's a lot of things that need to be checked. So we've got multiple income streams now and we're getting our timing right too. The thing is we hear all about these financial termites, they can eat away at our retirement. What strategies can you use to keep your retirement secure Asset allocation is have multiple sources of investments working like I would say together not all in the same industry or overlap. So overall, I mean, you have the big 22 sectors of the market. I mean, of course, you can go to sell classifications, but that's the normal number. And then most in mutual funds or investments target by one asset class. You hear large cap, small cap international, but there's a lot of ways to diversify. You need to make sure that every dollar is working for you and they're not all focused for the same goals and objectives. If one industry is up, Does't mean every industry is up if one industry is down or like a lot of people declare the market as the S&P or Dow Jones, that's a lot of overlap. And that's only about half the sectors, the S&P is down, doesn't mean every investment is down 2008. There was a lot of sectors that were showing positive yields when the entire market was down. 50%. So we need to make sure we segment our money in proper places, different buckets, I call them buckets, suitcases. You know, when you get by the suitcase set, you get five piece suitcase set, there's like one usable suitcase and the rest are real small But we need a kind of suitcase set where we have different suitcases dedicated to different times of our life and we have to have the giants, the biggest suitcase needs to be lifetime income. Now, you might be listening to Parker and coach here thinking simple enough, I'll just throw my money into a few funds and everything will turn out. All right. In all reality, you might be setting yourself up for disaster Well, the biggest common mistake I see and I know a lot of people get rubbed the wrong way with this is self diagnosing. It's kind of the concern of trying to Google and find the answer to everything and we hit that all the time. I mean, health care, fixing a car. I mean, Google isn't always a friend. It can be a great tool and our foundation is education but making Make sure that you know what questions to ask. Your advisor is making sure to make to help you understand. But we don't expect anyone to understand the tax code, the classifications or these subcategories that come into play. We just want to make sure people realize that they are addressing diversification. making sure they have proper risk allocation accounted for that. They're not taking too much or too little risk and making sure that they understand the true standard of living they're trying to achieve. There is no point in hitting the bare expenses if you can't count, going to see your family going out to eat or travel. So the biggest problem I see from our side of the table is that a lot of advisors plan for the expenses, not the standard of living. There are a lot of moving parts when it comes to good income diversification, you may be thinking, what about the all in one funds? Wouldn't it be simpler to have all of my assets managed automatically? Shouldn't that be less risky than having money all over the place? Bucketing strategies, in my opinion, a lot better than just a one size fits all fund where all the money is in one place because using different, buckets, we can take different risks so you can have a couple of buckets with no risk, but with lifetime guaranteed income and your money growing too. So we grow our money, we protect our money and then we can take leftover money after we have our income plans in place and take maximum risk in other buckets. So the diversification enables you to not despair if the market is going down because you may be making. money in a different bucket because it wants the market to go down. What it's really called is true diversification and most people watching this don't have true diversification. They are diversified amongst a bunch of risk categories. True diversification diversifies you or divide your money between risk, safety and the most important. One lifetime income. income diversification is crucial to a healthy retirement plan, there's no magic formula that can find the right asset allocation for every individual with something as valuable as your future. Why not be backed by a certified fiduciary planning team coach Pete and the team at capital financial specialize in creating customized retirement plans tailored to your unique needs and they'd be happy to hear from you, contact us today. Also. Be sure to like and subscribe for more great content.

Retirement Help Center Ep. 7 Income Diversification

Capital Financial Advisory Group,Coach Pete,Financial Safari,personal finances,sponsored

WRAL-TV News Broadcasts: Watch each newscast live or watch the most recent newscast on demand.

WRAL Late News 

Get the latest WRAL WeatherCenter Forecast whenever you need it, including the DUALDoppler5000 and the 7-Day Forecast.

I'm meteorologist, Amy Wilma in the WRL severe weather center, we had a dry warm day today, but a cold front is off to the west of us and it arrives tomorrow and brings the potential for some scattered showers and some thunderstorms. It's a pretty potent system today with a level three out of five risk for part of the Midwest. But the severe weather will be moving eastward as this cold front moves eastward as well. And we'll have the risk for severe storms tomorrow. Although the storm energy will not be as high tomorrow as it is today. There's a lot of storm energy west of us today and that's why they have that higher risk for severe storms. But as this system moves closer to North Carolina, it does weaken. We could still have some isolated severe storms but we have weak to moderate energy. We don't have the strong energy that they have west of us today. So it's a level one risk for most of us Friday. This is in the afternoon and evening. So isolated severe storms possible. The biggest threat will be some damaging winds and a potential for some hail as Well, the first half of the day is dry, so no rain worries for the morning commute. But by the time we get to the afternoon and evening, that's when we'll have scattered showers and storms and any of the storms that do form could become severe. And our highest rain chances are right during the evening commute. So about a 40% chance for rain tomorrow as we move ahead to Saturday, only a slim chance for a shower, a 20% chance for rain. But then a decent chance for rain on Sunday, we don't expect storms, but mainly the second half of our Sunday will have some scattered showers and it will be a cooler day. Here's a look at the rain over the weekend again, just a slim chance for rain on Saturday. Otherwise partly to mostly cloudy skies with temperatures in the low to mid seventies. Sunday morning looks mainly dry with a little bit of rain over some of our southern counties. But then as we head toward the afternoon, a better chance for rain, especially south and east of the triangle. And then during the evening is when some of that rain lifts to the north and includes a good part of the viewing area on Sunday. So the second half of the day certainly looks like the wettest part of the day, still warm Friday with a high of 84. And then we're down into the mid seventies Saturday, high temperatures will be in the low to mid sixties for Sunday and Monday with some chilly mornings, Monday morning and Tuesday morning. Down into the forties, we warm back up next week though. 74 on Tuesday, 78 Wednesday and near 70 for a high temperature on Thursday.

WRAL WeatherCenter Forecast

Nightly N.C. Education Lottery drawings during the 11 p.m. News.

Good evening. I'm Gayle Hurd. Welcome to tonight's joins for Thursday, April 18th, 2024. Well, let's get started tonight with our Carolina pick three. Our first winning number is a three. Our second number is three also and our third number tonight is two and our pick three. Fireball number is one. Joining me for tonight's drawing is our auditor from mcconal and Jones L LP. Now let's move to the Carolina pick four. Good luck. Everyone is that first winning pick four number. It's a seven. Our second number is six. Third number tonight is seven again and our fourth number is two and our pick for a fireball number is an eight. We're turning now to the Carolina cash five. If no one was the top prize tonight. Tomorrow, our prize is estimated at $235,000. Good luck. Everyone. Who's that first winning cash five number. It's 22. Second number is five third number tonight is it 25. Our fourth number is 10 and the final number in our cash drive this evening is 21. The North Carolina education lottery has contributed over $10 billion to education Thanks to your support. Get your winning numbers right here every night in your exclusive station for the North Carolina Education lottery. Thanks for playing. Have a great night.

Evening Pick 3 Pick 4 and Cash 5

Daytime Pick 3 and Pick 4 drawings are held at 3 p.m. daily. They can be seen as live or on-demand video.

Good afternoon. I'm back. Global. Welcome to this news drawings for Thursday, April 18th, 2024. Let's get started with Carolina pick three. The first pick three numbers zero. The second is one, the third is six that are pick three. Fireball number is one. Joining me for this afternoon's drawing is our auditor for a con and Jones L LP. Now move on to Carolina pick for the first four. Number is three. The second is for the third is 54, is seven in our pick four. Fireball number is nine. The North Carolina education lottery has contributed over $10 billion to education. Thanks for your support and thanks for playing.

Daytime Pick 3 and Pick 4 Drawing

After 22 years in business, Armadillo Grill on Glenwood Avenue in Raleigh has closed.



WE HAVE MORE RAIN IN THE FORECAST FOR THE WEEKEND. I'LL SHOW YOU COMING UP. THE LIST OF DOWNTOWN RALEIGH BUSINESSES SHUTTING THEIR DOORS IS ARMADILLO GRILL IS THE LATEST TO CLOSE FOR GOOD. >> WRAL'S SEAN GALLAGHER IS IN DOWNTOWN RALEIGH TO FIND OUT WITH THIS MEANS FOR THE GLENN WOOD, SOUTH AREA. SEAN, THIS WAS A SURPRISE TO A LOT OF FOLKS. >> YEAH, THIS WAS VERY ABRUPT SO ABRUPT THAT WE'VE SEEN A HANDFUL OF PEOPLE COMING UP HERE TRYING TO GET LUNCH ON THIS THURSDAY AFTERNOON AND THEY'RE MET WITH THIS SIGN ON THE DOOR, LETTING THEM KNOW THAT THEY ARE SHUT DOWN FOR GOOD, EFFECTIVE IMMEDIATELY AT THIS LOCATION. NOW, THIS TEX MEX RESTAURANT CALL THE CORNER OF GLENWOOD AVENUE AND TUCKER STREET HOME FOR THE LAST. 22 YEARS. IN A FACEBOOK POST, THE OWNERS SAY CHANGES IN THE RESTAURANT INDUSTRY AND RISING COSTS ARE WHY THEY'RE SHUTTING DOWN THIS LOCATION. IT'S THE LATEST IN A STRING OF STAPLE BUSINESSES RALLY, CLOSING CLOUDS BREWING, SHUT DOWN ITS RALEIGH TAVERN ON WEST STREET EARLIER THIS MONTH IN THE CAPITAL CLUB. 16 IS SHUTTING DOWN AT THE END OF THIS MONTH. OUR BELOVED REAL SAID THEY WILL LOOK FOR ANOTHER LOCATION TO SERVE THE RALEIGH COMMUNITY. BUT FOR SHARE MCCRACKEN OF GARDEN SCAPE DESIGNER FOR BUSINESSES AROUND THIS AREA. THIS IS JUST A SIGN OF THE EVOLUTION OF THE NEIGHBORHOOD. >> IT'S ELEVATING RIGHT NOW. PEOPLE THAT ARE NOT ABLE TO KIND OF ROLL WITH IT. NATURALLY COMING TO AN END AND MAYBE THERE WILL BE ANOTHER SPOT THAT'S PERFECT FOR THEM. BUT YOU CAN DEFINITELY FEEL THAT THERE IS A CHANGE GOING ON ON THE STREETS OF DOWNTOWN RALEIGH. >> AN ARMADILLO GRILL WILL ARE STILL OFFER THEIR CATERING SERVICES HERE AND THEY WILL STILL OPERATE THEIR FLAGSHIP LOCATION IN CARRBORO. BUT RENEE, THAT'S ABOUT 40 MINUTES AWAY RIGHT NEAR UNC CAMPUS. >> WHILE CUSTOMERS WILL HAVE TO DRIVE A LOT FARTHER AND WE WILL SEE WHAT ENDS UP TAKING ITS PLACE. THERE ON GLENWOOD

Glenwood South staple Armadillo Grill closes

Monday, Wednesday, and Saturday Powerball drawings, as shown live on WRAL.

Is powerball. Good evening, everyone. I'm Randy Trainer. Tonight. We have our life changing jackpot. It's estimated to be $80.7 million to get your tickets ready. Here. Come, tonight's winning numbers. Let's start things off this evening with the number 24. Right after that America. We have the number 54 and congratulations to Lisa Hayes from Illinois. She won $2 million playing powerball. All right, the rest of your winning number is 4447. And let's round it out tonight with the number 29 and tonight's win powerball number that's gonna be two and your power play multiplier is two. Let's take a look at tonight's winning numbers. Remember there are multiple ways to win. Good luck, everyone. We'll see you back here on Saturday night. It's time to play America's favorite.

Powerball Drawing

A crash has shut down all but one lane of Interstate 540 westbound near Buffaloe Road in Raleigh. Sky 5 is over the scene

Crash shuts down I-540 West near Buffaloe Road in Raleigh; Sky 5 is over the scene

Tuesday and Friday Mega Millions Drawing.

>> ACROSS AMERICA WITH MEGA JACKPOTS, IT'S MEGA MILLIONS. HELLO, MAYOR COMES ON CODE IS TUESDAY. APRIL 16TH AND TONIGHT'S MEGA MILLIONS JACKPOT IS AN ESTIMATED A NEW TIES. 148 MILLION DOLLARS. >> DUE TO TECHNICAL DIFFICULTIES. TONIGHT'S DRAWING HAS BEEN TEMPORARILY HALTED. ONCE THE MALFUNCTION IS CORRECTED, THE DRAWING WILL CONTINUE UNDER THE SUPERVISION OF THE AUDITOR. WE SAY TO THE STATION FOR ALL WINNING NUMBERS. >> SPOTTY SHOWERS AND THUNDERSTORMS POPPING UP HOW

Retirement Help Center Ep. 7 Income Diversification

More On This

Retirement Help Center Ep. 7 Income Diversification

Financial Safari Coverage

Related Topics

More Videos

WRAL Late News

WRAL WeatherCenter Forecast

Evening Pick 3 Pick 4 and Cash 5

Daytime Pick 3 and Pick 4 Drawing

Glenwood South staple Armadillo Grill closes

Powerball Drawing

Crash shuts down I-540 West near Buffaloe Road in Raleigh; Sky 5 is over the scene

Mega Millions Drawing