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Speaker 1: You know, now we're at all time market highs and

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I'm pretty much still an all time market history. So

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there's never been a better time to take some of

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those chips off of the table and take some profits.

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Because people will give you phrases like this when the

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markets are down, like, oh, it's only a paper loss.

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You know, it's not a lot until you sell out

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of it. But it's also it's only a paper game.

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Speaker 2: You are listening to Carrie Letz's Financial Survival Network, where

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you get valuable information you just can't find anywhere else

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to thrive in today's trying times. You need the Financial

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Survival Network now more than ever. Go to Financial Survivalnetwork

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dot com and get your free newsletter and gift. Financial

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Survival Network now more than ever.

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Speaker 3: And welcome you are listening to and watching the Financial

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Survival Network. I'm your host, Carrie. Let's say we're in

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mid to late February. Here, we got a lot of

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uncertainty going on in the nation's capital, new administration and

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a new way of doing things. And if you're thinking

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about retirement, or you're say five to ten years away

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from retirement, this could dramatically affect you and special guests

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on with us Patrick Muller Bellet Advisors. You find him

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at Belletadvisors dot com and if you have any questions,

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as always, you can shoot me an email. Klat Kerrie

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Lutz dot com. Patrick, first time guest on the show.

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Speaker 4: Welcome.

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Speaker 3: So uh hey, planning for retirement, even under the best

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of circumstances is difficult. What challenges are we looking at

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now with all the uncertainty in Washington and taxes and

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House cuts?

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Speaker 4: What do we do? Well?

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Speaker 1: It's going to be interesting coming up here, especially this year,

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because we've got the Trump tax cuts that are going

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to be expiring at the end of this year, so

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next year. A lot of people don't realize that we're

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going going back to twenty seventeen rates, which is dramatically different.

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Speaker 4: Yes, so we'll see that happens here.

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Speaker 1: And I think right now in the Senate it's you know,

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not looking great at them being able to agree on anything.

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So hopefully we can get an extension of the current

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tax rates at least through the end of the Trump

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administration and we'll see where it goes beyond that. But

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you know, a lot of those big moves that Trump

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is talking about as far as getting taxes off of

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your soci you know, not being taxed on your Social

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Security benefits, or it's going to be it's going to

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be a tough road to prefer that.

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Speaker 3: So what are you supposed to do about it? How

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do you plan when you don't even know what kind

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of tax you're going to be paying. It makes it

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really difficult.

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Speaker 1: And we help folks with a lot of roth conversions,

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and you know, it's just kind of one of those

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things I ask people all the time, do you think

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that tax rates are going to be going higher or

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lower in the future, And almost nobody says that they

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think that they're going to be going lower.

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Speaker 4: So if that's the case, and it's a.

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Speaker 1: Very small percentage of people when they retired that actually

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end up being in a lower tax rate in retirement, yeah,

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So a lot of these programs that people are putting

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their money to, like four oh one k's four or

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three b's four fifty seven account traditional iras, it's like, hey,

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defer paying your income taxes now and you know, take

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it out in retirement when you're in a lower tax rate.

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It's just we rarely see that happening. So people are

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shocked when when they see what their tax bill is

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going to be when they're forces start taking that money

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out when they reach RMD age of seventy three or

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seventy five to.

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Speaker 4: Depending on when you were born.

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Speaker 1: So we do a lot of roth conversions, like get

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money to those tax free accounts now because more likely

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tax rates you're probably not going to go much lower.

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Speaker 4: In the future.

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Speaker 3: Okay, so what about like Social Security? You know, most

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retirees are at least partially depended on it, even if

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they've saved and done everything right to what do you

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think is going to be with that?

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Speaker 4: It's a good question, you're right now.

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Speaker 1: It's like early twenty thirty, those projected that if there

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are no changes with Social Security and the way that

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that rolls out, then everybody's benefits are going to be

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reduced across the board by twenty five percent, which would

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be a huge cut. But I think there's a lot

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of things. I was actually just reading an article this

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morning that with the you know, with with DOGE doing

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their research that twenty one million people above the age

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of one hundred are still getting Social Security bnecests, right,

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So there's people that are actually in the system right

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now that since since before the country or crazy social security.

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Speaker 4: Benefits, it's insane. Yeah, so there could be a lot

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of changes like that.

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Speaker 1: I mean that alone, right, you're fixing that problem, right,

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could fix the social security issue.

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Speaker 3: Yeah, all right, So so we got interesting times ahead here.

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Where are you putting your clients? So what are you

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what are you recommending to them?

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Speaker 1: Well, one of the things that we use in retirement

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planning is the rule of one hundred. So take your

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age and that should be the percentage of your savings

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that are safe and protected from market losses. So if

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somebody's fifty years old, then we should have half of

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the money and things that are safe and protected from

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market losses, and then fifty percent. It's okay to be

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in the markets. And the reason for that is now

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you need the money to live off. But if you

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don't have a paycheck coming in anymore, it starts making

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things really difficult.

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Speaker 3: So a lot of people are going to be stuck

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here and working for longer than they want to ever

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anticipated working retirement. That goal, whatever it might be in

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your mind, is becoming more elusive, isn't it.

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Speaker 4: Absolutely absolutely?

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Speaker 1: So you know, now we're at all time market highs

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and I'm pretty much still an all time market history.

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So there's never been a better time to take some

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of those chips off of the table and take some profits.

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Because people will give you phrases like this when the

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markets are down, like, oh, it's only a paper loss.

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You know, it's not a loss until you sell out

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of it. But it's also it's only a paper gain, right,

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It's not it's not a gain until you realize it either.

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So it's just one of those things we don't want

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to take that unnecessary risk. But you know, this year

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with the markets, I mean, I think it's going to

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be positive, you know. I think with this new administration

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coming in, there's gonna be a lot of positive moves

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for lower regulations, you know, better energy prices, lowering inflation probably.

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So I think there's gonna be a lot of positive

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things over over the next four years longer term. But

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I don't think we're going to have like the twenty

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five percent plus returns in the SMP like we've had

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the last couple of years. I think we'll be lucky

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to do half of that. But because of all these changes,

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and it's been like a fire hose coming out of Washington,

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I think it's going to create a lot of instability

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in the market. So we're going to see a lot

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of volatility, and I think it'll be like a twelve

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round fight this year. We're going to go through twelve

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rounds and get to the end of the year and

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feel really beat up. But at the end, when you

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look at your statements, I think they're going to be positive.

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Speaker 4: All right.

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Speaker 3: Well, you know I look at is that we now

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find out that the prior and in it was basically

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cooking all the books, the inflation numbers especially, but the

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unemployment numbers, all of that, and if they were to

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be restated, we might very well come to the determination

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that unlike what the administration was telling us that everything

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was fine, you know, basically, uh, it wasn't fine. Inflation

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was actually running higher, and uh you know what does

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that mean here?

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Speaker 1: Yeah, I think it's a reality check and and and

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numbers like that coming out, it's definitely gonna wrek havoc

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on the markets.

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Speaker 4: So we could.

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Speaker 1: Definitely see a big pullback this year on a big

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retracement because we've been in a we've been a sideways

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market now since like late October at this point, as

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pretty much. You know, it hasn't hasn't done a whole

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much of anything over that time frame, and there's not

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a whole lot of buyers on the market. We're starting

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to see that momentum slowing down. So if you start

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han't had like that coming out that all the numbers

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were wrong and things are worse and that they were

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stated previously, I mean, we're definitely going to see a

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big pullback in the market. So that's one of those

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twelve rounds, right that we're going to get a little

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beat up, I think moving forward to this year.

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Speaker 3: Yeah, well, it's clear that you know, they were doing

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a lot of psyops on us, but you know, you

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got to think that the people actually know knew in

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their heart of hearts even though the numbers from the

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government were painting a rosy scenario. But people actually knew

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that things were not as good as they said, and

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that's why they voted the way they did.

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Speaker 1: Absolutely, it was overwhelming, and you know, people, I think

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over time, they've been disill miss led by the mainstream media.

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There's just been a big propaganda machine just propping up

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these narratives for over the last few years, and it's

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like it's almost seemed like we were an opposite world,

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like what's bad is good and what's good is bad,

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and seeing now you're making up to that and getting

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sick of it.

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Speaker 3: You know that CIA program once upon a time that

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supposedly was ended long ago but really wasn't. Operation mocking Bird,

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and that's basically where they send out the message and

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the press like mockingbirds. They call it that because they

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imitate each other. Uh, you know, we had the mocking

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Bird press. And while some people maybe on the coasts

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in Washington, d C. In California, in New York saw

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it as yeah, everything's fine, the people in the flyover

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country who largely determine who gets elected, didn't see it

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that way, did they?

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Speaker 4: Not at all? Not at all.

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Speaker 1: And you just saw that all across the country with

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the Trump rallies that you saw going on, I mean,

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just people coming out in droves, and like you said,

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those flyover states.

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Speaker 4: It's so you saw.

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Speaker 1: It by the numbers, even though that wasn't being represented

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well by the mainstream media. I mean, you just you

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just saw it and you felt that that you know

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that the tide was turning, and the tides were turning,

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and now this new administration that they're they're not messing

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around like Trump came in the first four years and

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you know, under all the circumstances, you know, he ended

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up getting a lot of things done. And now he's

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had kind of four years to prepare for for what's

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going to be happening for the next four years. And

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I think that I think that you know, we're going

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to be in for change. If you're not good with change, right,

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you're not you can be.

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Speaker 4: Like in this administration. But it's been yeah, it's been

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one a month, you know, less than a month.

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Speaker 3: That it's been nineties from the day we're speaking on Tuesday,

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February eighteenth, which is like can you believe it? Have

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you ever seen anything like this. Let's put aside personal

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political preferences, because they change like the weather, but just

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the way they hit the ground running, it was like

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time is of the essence.

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Speaker 4: You know.

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Speaker 3: It's like it reminds me when I'd be working on

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some papers to file in court and I got like

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eight hours to get them out, and it's like, just

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leave me alone, let me do what I want to do,

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and I'll talk to you later.

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Speaker 1: Right, Yeah, yeah, you don't you don't really have a

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whole lot of time for anything. It's like been a

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fire hose so far. But they've they're they're shotgunning and

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stuff out there, especially with the with Elon Musk and

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and the dog. Every every day something, you know, some

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new kind of scandal is is coming out when Little

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Superno is now it's old, right, is there actually gold

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at Fort Knox?

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Speaker 4: Well, we're going to find out.

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Speaker 3: Uh, you know that's going to be interesting because what

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if there's no gold in Fort Knox and all of

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our enemies, our adversaries have been hoarding gold like crazy, right, Yeah,

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well you've had that.

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Speaker 1: You've had Russia and China buying up gold like crazy

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for a very long period of time.

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Speaker 3: Now it's like, yeah, for for a decade, they've been

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doing it. You know, since I got into this space,

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they have been doing it. So what Yeah, I guess right,

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like Donald Rumsfeld said, there are known unknowns and then

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there are unknown unknowns, And I don't know which is worse,

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the unknown unknowns or the known unsownce here.

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Speaker 1: And it's just good though, a lot of this stuff

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is just coming out because and unless we really know

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what's going on, how can we possibly get better or system,

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and everybody kind of feels it like it just seems

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like the government's always have been putting band aids on things,

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and yeah, kicking the fan artificially and you know, keeping

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keeping the markets afloat. So at some point the things

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are going to hit the fan and and we're going

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to see a big move, but I don't know to

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have a positive foundation to lift off of it. At

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this point, I feel like the country almost needs that absolutely.

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Speaker 3: And look, you're intelligent, you work with money. You always

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knew that the money was getting wasted, right, You knew

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it because you know, you know the government, it's other

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people's money, er PM, and they don't care as long

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as their nest gets feathered. But you didn't know the specifics.

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You knew the macro. The macro is obvious for anybody

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who looked at it. But the micro is way worse

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than we could have ever imagined. I mean, without getting

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into everything they were wasting money on. So bringing it

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back though, what's your doge insurance portfolio?

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Speaker 4: Look like? Yeah, it's going.

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Speaker 1: To be interesting to see all the different things that

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come out here. But one of the things, you know,

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like I was talking about that rule of one hundred

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making sure there's so much money safe and it's not

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tied to the market. It's the problems come in when

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everybody has too much of their money tied to the

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daily market. So we use a lot of things like

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structured notes and things of that nature that aren't really

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affected by the day to day markets. But like the stuff,

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you know, moving forward, like with all of this stuff,

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you know, technology is going to be a big driver.

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AI is going to be a big driver. So probably

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your magnificent seven stocks you're going to probably fare pretty

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well this year. And and things like energy. When it

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comes to infrastructure, we've got these big data centers that

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are being built all around Atlanta here. You've got a

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bunch of tech companies, so you've got a lot of

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these massive data centers and they need energy to support

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these these big centers. So I think focusing on infrastructure

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like that, semiconductors, things things of that nature. Even even

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some gold, right, especially if they don't find the gold

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in four knocks, right, is going to you know.

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Speaker 3: Be at the gold in your fillings might be the

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only thing you have that's worth any money. And they

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don't even use golden fillings anymore, Patrick.

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Speaker 4: You know exactly all right?

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Speaker 3: Hey, so uh Della Advisors dot com. That's the place

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to go, Yes, find out more info. You can always

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send us an email k l at Harry LUTs dot

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com and a link to patrick site is in the show.

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That's to this interview on Financial Survival Network dot com.

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All we ask is that when you visit the site,

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you please sign up for your free newsletter. Over seventy

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thousand of you have done it so far. We're getting

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so many because of the uncertainty, because nobody knows what's

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going to happen. We've been tracking these trends Patrick for

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fourteen years since I started this podcast, and as a result,

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we've called all this. I can't say I called it

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to the day and I never expected the system to

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attempt to heal itself, which is basically what Trump's election

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is about. But the fact is this was obvious. You

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could see it coming a mile away. If they save

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a trillion and a half dollars Patrick on the budget,

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and then they bring in another half a trillion in tariffs,

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the world's looking like a different place.

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Speaker 4: Isn't it. It's going to get a whole lot better

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that's for sure. I think they're going to do it.

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For sure.

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Speaker 1: They're they're on a mission, and all the right people

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are getting confirmed and getting put into the right places,

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and it's it's going to it's going to be a masterclass,

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I think, and and what what can be what can

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be achieved.

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Speaker 3: I just have to pass this on to you. I've

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worked with governments, you know, courts. I was an attorney

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for thirty five years. And the inefficiency, the incompetence, the

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time wasting ability, you know, we've got to see a

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dramatic restructuring of our legal system.

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Speaker 4: Okay, I you know.

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Speaker 3: I wanted to do a podcast and a website called

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the Legal Theft, which basically deals with all the ways

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that attorneys screw over their clients. But this thing is

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out of control. And they asked Donald Trump who's the

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most powerful lobby in Washington and he said the lawyers.

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So I guess everything in its time, and I'm sure

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that's coming too. But we've become I'm a society that

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doesn't attempt to basically quickly resolve disputes. We've been a

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society that intentionally prolongs them to generate fees for attorneys

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and as one famous writer said, uh, when they had

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the line of prisoners going in to be arraigned, they call.

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Speaker 4: That the chow.

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Speaker 3: Well, we're the chow of the legal system, and until

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that gets resolved, we're not really going to be able

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to solve anything.

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Speaker 1: And you're seeing that a lot with judges, with some

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of that information that just came out, with judges basically

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getting money from the USAID through the MgO's and getting

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paid off, and it's it's unbelievable, like with a lot

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of these judges what they're doing and trying to stop,

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like like right now, trying to stop the president as

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administration from finding the fraud inside of.

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Speaker 4: Yeah, well it's kind of we're just like a huge

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cover up.

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Speaker 1: That's the rats are starting to jump the sh Did

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you see that in the news all the homes going

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up for sale and everything, and.

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Speaker 3: Yeah, over fifteen thousand homes and prices were down substantially.

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And it's kind of like that guy said in Vietnam

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we had to kill the village to save it. We

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kind of have to kill our government to save the country. Here,

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we'll leave it at that, Thanks so much for coming on,

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and we'll talk to you again so pleasure.

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Speaker 4: Thank you Kerris, thanks for having me.

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Speaker 2: Thanks for listening to carry Lets's Financial Survival Network, your

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solution to today's trying times. For the latest, go to

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Financial Survivalnetwork dot com. Financial Survival Network now more than ever,