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Speaker 1: Okay, So today I am really excited to introduce to

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you someone who has spent years helping people make sense

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of one of the biggest biggest questions we all face

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when we approach retirement. Will I be okay financially? That's

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a huge one. Now, Brian Face from Face to Face

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Planning specializes in helping individuals and families create I think,

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a clear, confident financial plan so that retirement isn't as

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uncertain as it can be, but it actually is full

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of possibilities. So in this conversation, we're going to talk

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about what really matters when it comes to financial planning,

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what people often get wrong, and how you can take

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more control of your future no matter where you're starting from.

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So welcome Brian, Thank you, Thank you for having me

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Marine now no problem.

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Speaker 2: Thank you for If anybody else doesn't know, Marine has

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an amazing Facebook group that she started I don't know

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how many years ago, but it has over thirty five

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thousand members. So she's putting her time where her I

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would say money where your mouth is, but now you're retired,

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so we'll say time and effort.

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Speaker 1: Well perfect, thank you. Now you if I understand right,

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you work with people planning retirement every single solitary day.

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So tell me what's what's the biggest thing you hear

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from people on a regular basis.

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Speaker 2: I would say most people, it starts with the basic thing,

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am I going to be okay? And am I going

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to have enough?

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Speaker 1: Mm hm?

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Speaker 2: So you know it starts there.

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Speaker 1: Yeah, how do you assure them? How do you make

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that plan for them?

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Speaker 2: I think we try to go back to the basics. See,

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most of us think enough is about a dollar figure.

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I am in the You're in Canada, so I'm in

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the US, so I don't I don't know as much

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about the Canadian system. But in the US here, you know,

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there's a there's kind of a premise that if we

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have a million dollars then will probably be a good number.

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Or some people follow another thing called the four percent rule.

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But most people, they just hear of certain things or

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they read them, and they're different for everybody. And the

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biggest thing, I don't think they've spent enough time on

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thinking about what do I even want to do in retirement.

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They're just assuming somewhat like the life they currently live

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will be the same and retirement will be the same.

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For the next thirty years if they retire at sixty

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five and they say, well, I think I'll live till

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ninety Okay, my twenty five years will be the same.

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And listening to your videos, you will talk a lot

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about those are not going to be the same twenty

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five years, which also means you're going to spend differently.

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So I think they first come to me about is

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there do I have enough? And the reality most people

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that come to me have been savers. They just don't

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come to me. I'm in the stat I heard from Fidelity.

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The last recent statf AT was only three percent of

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Americans have over a million dollars at retirement at sixty five, right.

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So what that's also saying is that if you're shooting

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for a million dollars, maybe that's not a fair number

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and maybe you should be shooting for your what you

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need to do in your life, what matters to you,

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and how you can connect those two instead of what

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your neighbor needs, because they're going to be different. So

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that that starts there. I always say, like, you need

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to talk to somebody instead of make up these things

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based on what you may read outline right, or use

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chat GPT, which which I know you like AI, which

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it's funny. There's a guy that I that I like.

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His name is zul and he has a really great

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face uh YouTube channel and he did a financial plan

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with chat GPT and and then he compared it and

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he looked and it was not the same as what

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it would be individual it's you know, so yeah, I

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would start there just you know, really starting to think

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about what does retirement look like and what is that

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actually going to cost. The other thing is, you know this,

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many things in retirement that actually add value to your

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life don't cost any money. Wow, or not very much money?

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Speaker 1: Yeah? Yeah, grandkids well mic when kids cost for but yes,

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grandkids like all of the relationships.

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Speaker 2: Yeah, relationships and the more. You know. The reason I

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started following what you were doing with the Facebook group

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was because I wanted to see what are people saying

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that they care about retirement. You know that Facebook group

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that you run, there's nothing about money in there. We

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actually don't really talk about money. We try to avoid money. Now.

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The feelings about money is different because that's actually that

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goes through Canada, that goes to the United States. It

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doesn't really matter. We all are human. Yeah, so I

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think that's really the start of you need to start

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talking earlier about what matters to you and what does

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this journey look like before you can connect the dots

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of how much you really need.

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Speaker 1: So you you sound very much like the relationship builder.

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Then did you always like finances? How did you get

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into this?

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Speaker 2: I've always loved numbers. You know, my son, he's nine

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years old. I have a nine and seven year old,

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and my seven year old is the special needs yess autism.

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But my nine year old, he loves to read. That

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was not me. But you give me a math problem,

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I'll just you know, we'll do these math problems all

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day long. Right. The great thing about numbers is they're

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black and white, like either it's right or wrong. There

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is no gray in a number. You can't really argue

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to seven plus. I guess some people could try to

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argue these things, but in reality, like they have a number.

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My dad was in finance growing up, so that was

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probably really where it started. And then at an early

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age I kind of learned they say that you start

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to learn money your money script, which I'm a big

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proponent of learning what is your money script as early

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as age two, and that actually comes from you as

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a baby starting to see things like you're not really noticed,

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you're not really realizing this. But as growing up as

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children and you learn things from your parents or your

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grandparents that you don't at the time. Aren't putting two

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and two together, but that money script actually follows through

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the rest of your life, and you probably learned and

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realize it more when you get married, because you're going

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to have two different money script right, yeah, typically right.

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And so my dad he used to take me, he

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used to help with people's retirement. He did retirement plans

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mainly when I was growing up, so helped, you know.

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He would take me to a factories where they had

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one hundred and two hundred employees and they'd do education

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seminars for their four oln case. So, yes, my dad

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did many things at the time seemed painful as a

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fifteen year old or a fourteen year old, but they

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probably they had a lot of value as you got older.

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So I think it grew from there. And then the industry,

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at least in America is not great to get into.

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It's not really great for younger people, and it's more

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of a sales industry when at the beginning, so I

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kind of got turned away from that because I really

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just wanted to help people. I just really said, hey,

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I don't want to sell them things that they may

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or may not need. And now people pay me. They

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just pay me at different various options. But I don't

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get commission on anything. So if I recommend something, I

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don't get paid commission. So that they're very clear, like

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this is really financial planning. I'm really here to help you.

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So that the journey started with my father.

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Speaker 1: Right, Okay, So then after helping so many different people

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and seeing so many different scenarios, can you tell us

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what you would think the number one? Maybe two or three,

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but for sure the number one biggest challenge or mistake

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is that we do as humans well.

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Speaker 2: No doubt about it. The biggest challenges yourself. And what

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I mean by that is fear. You just did a

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video in this I'm gonna drop a bunch of videos

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that you guys have to go check out. Fear is

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probably for all of us, our biggest hindrance, and the

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fear of running out of money is very big.

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Speaker 1: For all of us.

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Speaker 2: And you know, I got all this great software and

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we can go through these numbers and I can say, Marie,

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you're gonna be okay, Yeah, you can do that. But

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the reality is, I can't tell you one hundred percent

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sure that all these things are gonna work out perfect.

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But I think people think of money a little bit.

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We don't think of money like we think of our life.

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I mean, I get up every day tomorrow expecting that

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they'll be tomorrow, expecting they'll be five years and ten

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years and twenty years and thirty years. That's expectation. I'm

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going to live my life that way, right, right. But

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with our money, there's more fear. We fear more than

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our money will be gone tomorrow, then will be gone tomorrow.

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Speaker 1: That is so true. I never thought of it that way.

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Speaker 2: And I think just because life is. You know, I

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was talking to somebody the other day and they have

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their plan only out for ten more years, and they're

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in their seventies, and they say, hey, well I'm only

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going to make it ten more years. Okay, But ten

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years ago they told me they only going to make

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it ten more years, too, right, And they have health

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challenges and they're real things. But that is one thing

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I'll throw in, as you know, at your age, is

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the thing that we forget about is we always focus

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on money, but we completely forget about health. It doesn't

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matter how much money you have if you're unhealthy and

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you're in the prime age where you see this every

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single day with your friends and your family. And and I

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think our society is getting better about that. So and

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a long way around, you said that the one thing

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is fear, right, and then can you go back over

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that question because I want to.

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Speaker 1: I'll give you one more after seeing and talking to

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so many different retirees. What is the number one thing

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or two, number two, three things that we make mistakes about?

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So we're off. We're very, very scared obviously of pulling

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metriger I see that all the time when people are

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saying I don't know if I can retire yet. But

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from your perspective, okay, so obviously we're scared of it.

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What else do you see? What? What other mistakes do

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we make?

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Speaker 2: Yeah? Those, So I'll go more into like the technical

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thing right, as in the fear drives us to make

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money decisions that we shouldn't make. Here's the most common

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thing that I think about. Okay, you put money in

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your bank account versus invested getting into the stock market.

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What you're saying at that moment, if this is long

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term money, by by the way, not something you're going

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to buy tomorrow or whatever. Okay, but you know there's

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a lot of people that they only put money in

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savings accounts or they only put money in a CD.

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Are they only right? What they're saying that they don't

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realize they're saying is that, well, this makes me feel

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good today. But the problem what they're saying is that

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twenty years from now, if they're still alive, this decision

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is going to hurt them for sure, just because of inflation,

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Like it doesn't even matter, it can't keep up, right,

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So they're giving up this future self for this current

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self to feel good. Now that was an easier argument.

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Speaker 1: Huh, which is probably coming back to the fear. They're

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scared to invest in anything a little bit maybe more

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risky because.

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Speaker 2: They're they're one hundred percent. See. But the problem is,

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I think this is how we look at risk. You know,

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as as a business owner. My wife works for a company,

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and I have a business and I have fifty sixty clients.

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So our society says that her job is more stable

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than my job because I'm a business owner and she

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works somewhere. Yeah, but the second, at any moment, she

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could get fired, right right for me, I have fifty

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some we'll call them bosses, okay, and they would have

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to all not be happy. And so I think that

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what I'm saying is that our society has decided what

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our fears should be, and so saving is safe and

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putting it in a savings accounts that the bank is safe,

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and putting it in the investments in the stock Now

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there's stuff in between you, but we'll just say investment

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in the stock market is risky. A lot of this

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are just education and how we've been raised. I mean,

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our grandparents put it in their savings account, but they

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also didn't have access that we do. I mean, there

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wasn't retirement plan access. There wasn't Charles Schwabs and fidelities

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and vanguards of the world where you could invest for free.

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So I think those decisions. And then there's the other

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side of it, which is extreme savers. So I deal

241
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with a lot of extreme savers, and I start thinking

242
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about we need what's called savers anonymous. Now you know

243
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you have alcohol, Now we have savers anonym because and

244
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I'm gonna. I can be an extreme saver. If it

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wasn't for my spouse, I would be an extreme saver. Yeah,

246
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and that's not a bad thing. But we think about

247
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is we keep thinking about if I take this trip,

248
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this trip costs me five thousand dollars, but since I'm

249
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actually I have knowledge in a computer in calculations, this

250
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trip really cost me fifty thousand dollars. Well, but what

251
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I've missed. The point of one of my favorite books,

252
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Behind Me Die was zero is uh memory dividends. See,

253
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I'm focused on money dividends, but I start to forget

254
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about memory dividends. I have a child that are seven

255
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to nine years old. So my memory dividend life currently

256
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is the next ten years? Your memory dividend life. If

257
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you're fair to yourself, I'm not going to ask Marines age.

258
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She might tell everybody, but if she, oh, yeah, is

259
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the next we'll say your go go years. You're in

260
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your go go years clearly, right, So that's your like

261
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that like be honest with yourself like and that's where

262
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I think people in their sixties always say, I say,

263
00:14:19,120 --> 00:14:21,320
write your future. We'll maybe we'll talk about this if

264
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you ask me questions. But I'll say, I tell clients

265
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write your future. Okay, if you're seventy, your seventy five

266
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year old self, write a letter back and tell you

267
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if you thought this was a good decision, because you

268
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might not be able to do it at seventy five.

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Speaker 1: Right.

270
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Speaker 2: I don't know. Maybe you spent the money today and

271
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you can't do something at seventy five. But what I

272
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can tell you is if you don't do it today

273
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and then at seventy five you have the money but

274
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can't do it, you're not going to be happy about that.

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Speaker 1: Yeah, And I always say I use an analogy. I

276
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think it was Tony Robbins that I heard it from.

277
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But when you're ninety five, whatever year, seventy five, eighty five,

278
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nine five, whatever, you're sitting on your rocking chair looking

279
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back at your life, will this have mattered? Would Now?

280
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Am I going to be thinking about, Ooh, I should

281
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have taken that five thousand dollars and invested it. Or

282
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am I going to say, Ooh, I'm so glad I

283
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took that five thousand dollars and went on a trip

284
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with my kids, my grandkids. Whatever that might look like,

285
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That's what I'm going to be thinking about when I'm

286
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not hopefully if I'm get to ninety.

287
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Speaker 2: Five, sitting on my rocking chair.

288
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Speaker 1: Yes, so writing a letter? Okay, so tell me more

289
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about this letter process. What do you what do you

290
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write to yourself? So I do?

291
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Speaker 2: I use it in different thing. There's a guy I

292
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listened to and he was a I don't remember his name,

293
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but he was a doctor and a teacher at cal

294
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University I believe in California. You talk, and he's a

295
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He wrote a book about future self and current self. Right. See,

296
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right now, we are all making decisions based on our

297
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current self and what we think our future self is

298
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going to feel about that decision. Okay, right, But what

299
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we don't realize is we all feel differently today than

300
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we did five years ago. We have different thoughts, different feelings,

301
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we might look different, you know, oh those things, and

302
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so we are not going to be the same person.

303
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We think we're going to be the same person That

304
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seventy seventy year old thinks they're going to be the

305
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same person at seventy five. It's just they're going to

306
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be five years older. But nothing else is going to change.

307
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And that's not being honest with themselves. So what I

308
00:16:18,240 --> 00:16:22,080
asked them to do in those situations is say, hey,

309
00:16:23,200 --> 00:16:26,039
when I'm making a decision. This typically happens when people

310
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are fearful of making a decision about going on a

311
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trip or doing or making a decision some kind of

312
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money decision, which is usually what they're asking me, you know,

313
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is would my seventy five year old self be happy

314
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that I took this trip even if I'm not going

315
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to be poor. But maybe I don't have the money

316
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to go to Europe anymore, But now I can only

317
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travel around in a car and take a day trip, right,

318
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and make that decision that because you might have the

319
00:16:55,080 --> 00:16:57,440
money seventy five, you don't know that, but you can't

320
00:16:57,480 --> 00:17:04,359
go back right. And so almost we want to stretch

321
00:17:04,480 --> 00:17:07,359
that go go years as much as possible, just like

322
00:17:07,799 --> 00:17:10,920
I am trying to work on myself stretching my forty

323
00:17:10,960 --> 00:17:14,119
fives because I'm trying to put more focus on memory

324
00:17:14,240 --> 00:17:19,559
dividends and saying, okay, all of us want to save enough.

325
00:17:20,039 --> 00:17:22,039
But where the challenge comes in, I think a lot

326
00:17:22,119 --> 00:17:24,240
is most people don't come to me until they're sixty

327
00:17:24,240 --> 00:17:28,880
five years old. So they tried to make good decisions

328
00:17:28,920 --> 00:17:31,799
at forty forty five and they probably thought this is

329
00:17:31,839 --> 00:17:34,599
the best thing for me. But my argument is this,

330
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I'm not sure you working in extra ten hours a

331
00:17:37,079 --> 00:17:39,319
week to save some extra money so that you can

332
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have money in retirement is really what your kids care about. Yeah,

333
00:17:44,480 --> 00:17:46,359
you think you're doing the right thing. I think they

334
00:17:46,440 --> 00:17:50,599
mean well, but I think what it is is you've

335
00:17:50,640 --> 00:17:54,000
never even seen Is this Am I on the right track?

336
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Speaker 1: Maybe?

337
00:17:54,640 --> 00:17:58,119
Speaker 2: Again, most savers are extreme savers. We don't have a

338
00:17:58,160 --> 00:18:00,480
lot of in between people in America. They say about

339
00:18:00,480 --> 00:18:02,640
sixty percent of people can't even afford a four hundred

340
00:18:02,640 --> 00:18:07,519
dollars unexpected cost. Well, they're not coming to me unfortunately, right. Yeah,

341
00:18:07,559 --> 00:18:10,279
so you're pretty much saying, hey, there's a group of

342
00:18:10,279 --> 00:18:12,640
people that are not gonna probably have any money at retirement,

343
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so they're going to live on Social Security. And then

344
00:18:15,799 --> 00:18:17,200
you have a group of people that are gonna have

345
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way too much money. But this is the thing, once

346
00:18:22,599 --> 00:18:24,799
they get there, I could tell them that they have

347
00:18:24,839 --> 00:18:28,119
way too much money and that's not going to change

348
00:18:28,880 --> 00:18:34,039
how they feel about making decisions because that the switch

349
00:18:34,440 --> 00:18:38,240
from a saber to a spender is a muscle that

350
00:18:38,839 --> 00:18:43,240
you've built your whole life. You've been a heavy lifter, right,

351
00:18:43,799 --> 00:18:46,400
and now you're suddenly like I'm going to change this muscle.

352
00:18:46,440 --> 00:18:48,319
I'm going from being a heavy lifter and now I'm

353
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gonna be a marathon runner, right, And you just can't

354
00:18:52,880 --> 00:18:55,599
do that. You better start running to your mailbox first

355
00:18:56,000 --> 00:18:59,400
before you try to be running twenty twenty six whatever

356
00:18:59,400 --> 00:19:01,720
a marathon is, because I don't run. I'm definitely never

357
00:19:01,759 --> 00:19:04,799
going to be a run what is it twenty six

358
00:19:04,839 --> 00:19:10,079
point five or whatever? Right? Too? Five? Right? Okay, I

359
00:19:10,119 --> 00:19:12,480
do Yeah. And that's the other thing that I've been

360
00:19:12,519 --> 00:19:16,400
thinking about later with lately with retirees, and it is

361
00:19:17,519 --> 00:19:19,680
too many times, and you know this, a lot of

362
00:19:19,680 --> 00:19:22,599
people don't actually work out, like they just never have.

363
00:19:22,880 --> 00:19:25,720
That hasn't been their thing, right, and they get into

364
00:19:25,759 --> 00:19:28,720
their sixties and now people are telling them. I mean,

365
00:19:28,720 --> 00:19:30,119
if you go to the doctor, they're going to tell

366
00:19:30,119 --> 00:19:32,599
you two things. You need to eat work out, you

367
00:19:32,599 --> 00:19:36,240
need to eat healthy, no matter what the thing is. Now,

368
00:19:37,599 --> 00:19:39,480
to be fair, they might be telling us the truth

369
00:19:39,480 --> 00:19:42,359
and we just never listen. Like if you move your

370
00:19:42,359 --> 00:19:45,079
body and you eat good food, it's real maybe these

371
00:19:45,119 --> 00:19:48,480
good maybe good things will happen, I don't know, yeah, or.

372
00:19:48,440 --> 00:19:51,319
Speaker 1: The chances of good things happening increase, for sure.

373
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Speaker 2: Yes, So, but I started thinking about this thing instead

374
00:19:54,839 --> 00:19:57,200
of saying, you know, the doctor says you need to

375
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do thirty minutes a day of cardiovascal or you know, running,

376
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and da da da and as soon as he says that,

377
00:20:03,319 --> 00:20:07,119
most of us are saying, yeah, I'm good. Yeah, I

378
00:20:07,160 --> 00:20:09,920
hear what you're saying. Sounds like a good idea, but

379
00:20:10,000 --> 00:20:12,039
I'm not. So then I started thinking, why don't we

380
00:20:12,079 --> 00:20:14,839
have a different conversation? And to me, the different conversation

381
00:20:14,960 --> 00:20:16,720
is what am I willing to do? Now? What am

382
00:20:16,720 --> 00:20:18,960
I not willing to do? Because I might be willing

383
00:20:19,000 --> 00:20:20,680
to walk down the road five minutes a day, why

384
00:20:20,680 --> 00:20:25,880
don't I start there? Okay, right, with anything? It could

385
00:20:25,920 --> 00:20:29,960
be with saving money, but eating healthy is another one. Well,

386
00:20:30,000 --> 00:20:32,039
am I willing to eat an extra apple? I remember,

387
00:20:32,160 --> 00:20:34,599
years and years and years ago, I made a decision

388
00:20:34,640 --> 00:20:37,359
that every time I I'm not sure this is super healthy,

389
00:20:37,359 --> 00:20:39,400
but it's there was a step in the right direction.

390
00:20:40,359 --> 00:20:43,799
Every time I had a sub I stopped getting chips

391
00:20:45,319 --> 00:20:48,200
because chips are just empty calories. Right, So okay, we'll

392
00:20:48,240 --> 00:20:51,279
start there. Now I eat pretty healthy. Now that is

393
00:20:51,440 --> 00:20:55,079
completely because of my wife. But I do find it

394
00:20:55,119 --> 00:20:59,160
funny now is once you start, you go into your pantry.

395
00:20:59,400 --> 00:21:01,319
Now this is a right, we're supposed to be talking

396
00:21:01,319 --> 00:21:03,079
about financing, but this, to me, I think this goes

397
00:21:03,119 --> 00:21:06,359
hand in hand. I go onto my pantry, right, and

398
00:21:06,400 --> 00:21:07,920
you look at your pantry, and if you just ask

399
00:21:08,000 --> 00:21:13,400
yourself a simple question, is anything in here actually good

400
00:21:13,400 --> 00:21:13,680
for me?

401
00:21:14,119 --> 00:21:14,240
Speaker 1: Like?

402
00:21:14,319 --> 00:21:15,720
Speaker 2: Does it actually is my body?

403
00:21:15,799 --> 00:21:15,880
Speaker 1: Like?

404
00:21:16,000 --> 00:21:17,920
Speaker 2: Yes, give me that, and it's going to be good

405
00:21:17,920 --> 00:21:22,240
for you? Right? Like probably not right? So, like, but

406
00:21:22,279 --> 00:21:24,440
then you go to your fridge or you go to

407
00:21:24,680 --> 00:21:27,240
you go to that garden, the stuff that your grandparents

408
00:21:27,279 --> 00:21:30,200
grew up on, and it's like, okay, this is some

409
00:21:30,279 --> 00:21:34,720
good fuel I'm putting in me. So anyway, so that

410
00:21:34,759 --> 00:21:36,720
also goes hand in hand in my mind of like,

411
00:21:36,920 --> 00:21:40,000
you need two things in retirement. You need health first

412
00:21:40,039 --> 00:21:44,119
because you cannot control that, right, and then you do

413
00:21:44,240 --> 00:21:46,559
need money. I'm gonna throw a third that we can't control,

414
00:21:46,559 --> 00:21:47,400
and that's called time.

415
00:21:48,720 --> 00:21:52,680
Speaker 1: Yeah, yeah, that good. Good ones. And I talk a

416
00:21:52,680 --> 00:21:56,160
lot about the health and the time and not as

417
00:21:56,240 --> 00:21:59,039
much about money because I'm not that expert that you are.

418
00:21:59,079 --> 00:22:03,000
Help Obviously, you said earlier that most people come to

419
00:22:03,000 --> 00:22:05,119
you when they're sixty five. If you could reach out

420
00:22:05,160 --> 00:22:07,799
to the younger people, what would you tell them? What

421
00:22:07,839 --> 00:22:11,000
advice would you give them?

422
00:22:11,279 --> 00:22:13,680
Speaker 2: So I do have younger clients, but they're your typical

423
00:22:14,400 --> 00:22:17,319
people that are lawyers, doctors, right, So they're hiring coome

424
00:22:17,359 --> 00:22:21,000
earners and they typically So you know our society, there

425
00:22:21,000 --> 00:22:24,880
are in the States there are hourly planners. It's becoming

426
00:22:24,880 --> 00:22:28,440
more popular. You could have some things. I would start

427
00:22:28,480 --> 00:22:34,680
by saying, like with younger people, try to figure out

428
00:22:34,680 --> 00:22:40,160
a happy median, like make sure you're saving some. But

429
00:22:40,200 --> 00:22:42,839
I don't think they know what some is or enough is.

430
00:22:42,880 --> 00:22:47,279
And that's the part that's so hard, is like if

431
00:22:47,319 --> 00:22:49,039
I have no map to look at. You know, I

432
00:22:49,839 --> 00:22:52,799
was thinking about with the retirement, most people are living

433
00:22:52,839 --> 00:22:57,720
on a map that is based on something that was

434
00:22:57,759 --> 00:23:02,000
made one hundred and fifty years ago, right. I think

435
00:23:02,000 --> 00:23:04,960
in the eighteen eighties in Germany they decided sixty five

436
00:23:05,119 --> 00:23:07,680
was a retirement age. Well, those people on average lived

437
00:23:07,759 --> 00:23:09,880
till forty six years old at that time. Okay, so

438
00:23:10,359 --> 00:23:12,960
having a sixty five, you know they worked until the end. Right,

439
00:23:13,920 --> 00:23:18,640
So with retirement, most people are just saving whatever they

440
00:23:18,680 --> 00:23:21,119
think they can. But they don't really know. So I

441
00:23:21,119 --> 00:23:24,759
would say, first and foremost, go talk to somebody, even

442
00:23:24,759 --> 00:23:27,400
if it's one time, you pay him for a couple hours.

443
00:23:28,319 --> 00:23:30,880
Get some kind of guidance, because what I don't want

444
00:23:30,920 --> 00:23:33,160
you doing is because what most people are going to

445
00:23:33,200 --> 00:23:35,160
do is they're just going to take that trip right

446
00:23:35,279 --> 00:23:40,599
or wrong, Okay, to Disneyland. I saw Dave Ramsey's was interviewing.

447
00:23:40,640 --> 00:23:42,519
It wasn't David's guy that works for me. He's down

448
00:23:42,559 --> 00:23:44,559
at Disneyland asking how much debt they had and how

449
00:23:44,640 --> 00:23:47,640
much the trip costs. And I'm like, I'm just looking

450
00:23:47,680 --> 00:23:50,359
at this and believe me, us taking some kids to Disneyland.

451
00:23:50,440 --> 00:23:53,880
I understand the situation and it kind of blows my mind.

452
00:23:54,000 --> 00:24:00,319
But and so I think I would get guidance. Would

453
00:24:00,400 --> 00:24:04,440
I would set up automatic things. That's the key. Make

454
00:24:04,519 --> 00:24:07,119
it easy. If you make it hard, it won't happen.

455
00:24:07,200 --> 00:24:08,680
If you're gonna wait till the end of the month

456
00:24:08,720 --> 00:24:12,359
to send money in, probably not going in right. Like

457
00:24:12,440 --> 00:24:15,599
it's just you pay off all your bills, and then

458
00:24:15,640 --> 00:24:17,680
if you have kids, that's a whole other level. So

459
00:24:18,200 --> 00:24:21,119
I think too many people focus on the money memory dividends,

460
00:24:21,119 --> 00:24:25,640
and they for forget completely about the money. Yeah, right,

461
00:24:26,039 --> 00:24:31,319
we kind of need a happy median. I don't think

462
00:24:31,319 --> 00:24:33,279
at the end of your life you're gonna If I

463
00:24:33,319 --> 00:24:35,319
had to choose, I would say, and this is a

464
00:24:35,359 --> 00:24:38,880
little bit of the yolo kind of deal. You know,

465
00:24:38,920 --> 00:24:41,200
there is something that I really think is special about

466
00:24:41,240 --> 00:24:43,400
the people that drive a motorcycle without a helmet on,

467
00:24:43,480 --> 00:24:44,960
and they're just living their life and they would live

468
00:24:45,039 --> 00:24:47,000
paycheck to paycheck and they don't care and they just

469
00:24:47,079 --> 00:24:50,599
love life. Like I completely think that's awesome. I don't

470
00:24:50,599 --> 00:24:52,279
know how to do that. That scares me. I need

471
00:24:52,279 --> 00:24:53,839
to have a plan. I need to have a helmet on,

472
00:24:53,920 --> 00:24:56,839
I need to you know, all that jazz. But there's

473
00:24:56,880 --> 00:24:59,359
something I think we can learn from those people and

474
00:25:00,119 --> 00:25:02,480
can be a combination. It doesn't have to be that

475
00:25:02,480 --> 00:25:04,720
I that I make sure that I wear my seat

476
00:25:04,720 --> 00:25:07,079
belt so tight and I drive sixty five and I

477
00:25:07,160 --> 00:25:10,200
don't go any anywhere I drive anywhere I shouldn't drive,

478
00:25:10,200 --> 00:25:13,039
and you know, like like there has to be a

479
00:25:13,079 --> 00:25:17,680
combination of the accounting type of people and the people

480
00:25:17,720 --> 00:25:19,759
that are just yolo in it out right. And so

481
00:25:20,119 --> 00:25:25,400
the younger generation start because it's easier to save when

482
00:25:25,400 --> 00:25:27,160
you're younger. Even if you only save a little bit,

483
00:25:27,200 --> 00:25:30,079
you're young due to compound interest. Right, is if you

484
00:25:30,200 --> 00:25:33,720
save two hundred dollars a month when you're younger versus

485
00:25:33,720 --> 00:25:35,640
waiting twenty years and now you got to save one

486
00:25:35,640 --> 00:25:39,880
thousand dollars a month to get the same result. And

487
00:25:40,640 --> 00:25:43,720
once you start saving, I heard the other day of

488
00:25:43,720 --> 00:25:47,240
the average car payment in America. It was like eight

489
00:25:47,359 --> 00:25:50,400
hundred dollars, like semi fifty to eight hundred dollars. So

490
00:25:50,440 --> 00:25:52,240
that's the other thing I tell young people is like

491
00:25:53,079 --> 00:25:54,720
I'm not trying. I'm not the person to tell you

492
00:25:54,720 --> 00:25:57,960
don't go by the lattes at Starbucks. If you love

493
00:25:58,039 --> 00:26:00,680
lattes at Starbucks, go do it. But you got to

494
00:26:00,720 --> 00:26:05,200
give up something like expend you know, uh, spend money

495
00:26:05,200 --> 00:26:07,920
on the things that matter to you. But you got

496
00:26:07,920 --> 00:26:11,680
to evaluate what matters to you. Most people don't evaluate.

497
00:26:11,720 --> 00:26:16,920
We just put everything on auto right and subscription and

498
00:26:16,960 --> 00:26:19,279
we all got ten subscriptions that we didn't even know

499
00:26:19,319 --> 00:26:21,640
we had and we could be spending that money on

500
00:26:21,720 --> 00:26:22,160
a vacation.

501
00:26:23,240 --> 00:26:25,480
Speaker 1: Yeah. Now, just real quickly, for those that don't know,

502
00:26:25,519 --> 00:26:29,799
the yolo is you only live once, so if you.

503
00:26:29,319 --> 00:26:31,240
Speaker 2: There might be a slang word in America.

504
00:26:31,319 --> 00:26:34,400
Speaker 1: So I don't know that it's all around, but just

505
00:26:34,440 --> 00:26:36,599
in case. So you only a lot of people, especially

506
00:26:36,599 --> 00:26:39,559
I think the younger generation maybe have that attitude you

507
00:26:39,599 --> 00:26:42,240
only live once, let's do it, and so they don't

508
00:26:42,319 --> 00:26:46,839
think about the future as as much. I think, yeah,

509
00:26:47,039 --> 00:26:49,119
or I see it anyhow, with generation right now, they

510
00:26:49,160 --> 00:26:50,119
just that's fair future.

511
00:26:50,359 --> 00:26:52,079
Speaker 2: I think they start to think more about it in

512
00:26:52,119 --> 00:26:54,319
their forties. Yeah.

513
00:26:54,400 --> 00:26:56,359
Speaker 1: And I was gonna say, what surprised me too was

514
00:26:56,519 --> 00:26:58,440
when we were like, we got married young, we had

515
00:26:58,519 --> 00:27:03,400
kids young, and we were so broke. We had no money,

516
00:27:03,559 --> 00:27:06,799
no money whatsoever. And in fact, you know, went into

517
00:27:06,799 --> 00:27:09,240
that much just to pay for the kids to play hockey,

518
00:27:09,240 --> 00:27:11,319
et cetera. And then all of a sudden, the kids

519
00:27:11,359 --> 00:27:13,680
got to in an age where I always say this

520
00:27:13,720 --> 00:27:16,039
as my analogy, we had little kids in a big mortgage.

521
00:27:16,039 --> 00:27:18,559
All a sudden we had big kids and a little mortgage,

522
00:27:19,039 --> 00:27:21,480
and life just changed and it changed just like that.

523
00:27:21,519 --> 00:27:23,240
It was so fast where all of a sudden I

524
00:27:23,279 --> 00:27:26,440
could save. But I think back too, if I could

525
00:27:26,480 --> 00:27:29,200
have and I'm the saver, I'm the like I could

526
00:27:29,240 --> 00:27:32,680
be obsessive about saving too. But if I could have

527
00:27:32,839 --> 00:27:36,799
saved when I was younger, the compounding would have made

528
00:27:37,000 --> 00:27:40,839
such a difference. I just don't know how I get.

529
00:27:40,880 --> 00:27:42,799
I don't know how. I don't know. But it was

530
00:27:42,839 --> 00:27:44,880
just life. We just lived our lives and did what

531
00:27:44,920 --> 00:27:45,480
we had to do.

532
00:27:47,240 --> 00:27:49,039
Speaker 2: Yeah, and you were in the different See. I didn't

533
00:27:49,079 --> 00:27:51,400
have kids till mid thirties, and I always think there's

534
00:27:51,400 --> 00:27:54,720
a difference, right if. I always say because I used

535
00:27:54,720 --> 00:27:57,000
to take my kids a daycare and I remember, you know,

536
00:27:57,119 --> 00:27:58,960
the two of them in daycare was like over twenty

537
00:27:58,960 --> 00:28:00,880
grand and I was thinking, how to these people and

538
00:28:00,920 --> 00:28:03,400
they're twenty three or four years old? How they affording

539
00:28:03,400 --> 00:28:05,599
these right? I mean I could afford it. But it

540
00:28:05,640 --> 00:28:08,200
wasn't a good time. I mean, that's for sure. And

541
00:28:08,880 --> 00:28:11,839
so there's good and bad. But now I always say, like,

542
00:28:12,039 --> 00:28:14,480
I'm going to be fifty eight or nine years old

543
00:28:14,480 --> 00:28:17,599
when my when my youngest is graduating high school. So

544
00:28:17,640 --> 00:28:20,960
it's like, okay at that point, you know, close to retirement.

545
00:28:22,079 --> 00:28:25,000
Speaker 1: Twenty two and twenty four when my boys were born.

546
00:28:25,400 --> 00:28:28,119
But then I was forty. I had just turned forty three,

547
00:28:28,319 --> 00:28:31,559
and I was a grandma. So at forty three on

548
00:28:31,680 --> 00:28:33,920
my grandma, which is fairly young, and now I have

549
00:28:33,960 --> 00:28:36,839
six in the little suckers, six grandchildren. But it was

550
00:28:37,000 --> 00:28:39,319
just different, and we just muddled our way through. I

551
00:28:39,359 --> 00:28:41,039
don't know. I don't know. Some days I look back

552
00:28:41,079 --> 00:28:44,240
and go, what we didn't know a darn thing nothing,

553
00:28:45,519 --> 00:28:47,519
But here we are, And I don't know.

554
00:28:47,920 --> 00:28:50,680
Speaker 2: I always say, and maybe it's not even maybe it's

555
00:28:50,720 --> 00:28:53,119
not even something people should compare, because I'm always like,

556
00:28:53,240 --> 00:28:55,359
I've thought about it, which way would be better, like

557
00:28:55,400 --> 00:28:57,960
for my own life, not for right yeah, like, and

558
00:28:58,039 --> 00:29:00,559
I don't know, you know, because if you get me later,

559
00:29:00,680 --> 00:29:04,079
then you had these years to explore in journey and life.

560
00:29:04,319 --> 00:29:06,079
But if you get married younger and have the kids,

561
00:29:06,119 --> 00:29:09,359
then you have you have more time to kind of

562
00:29:09,559 --> 00:29:13,519
journey as a couple, right And in that so I

563
00:29:14,079 --> 00:29:15,680
have no id, And at the end of the day,

564
00:29:15,680 --> 00:29:17,480
it doesn't really matter because.

565
00:29:17,440 --> 00:29:19,400
Speaker 1: Yeah, I'm not sure there's a writer wrong. I just

566
00:29:19,480 --> 00:29:21,640
know right now. And I've done a few videos about this,

567
00:29:21,680 --> 00:29:23,160
and then we'll get back to finances in a second.

568
00:29:23,200 --> 00:29:25,920
But I've done a few videos about this where I

569
00:29:26,000 --> 00:29:28,400
have a ton of guilt. Right now, I'm in Arizona

570
00:29:28,480 --> 00:29:31,079
right now. We're going home on Friday to go back

571
00:29:31,079 --> 00:29:34,359
to Canada because I have two grandsons and hockey tournaments

572
00:29:34,359 --> 00:29:36,680
this weekend, so I want to go. When's this weekend?

573
00:29:36,720 --> 00:29:38,400
When's the next weekend? So we're going back to see

574
00:29:38,440 --> 00:29:42,000
the hockey tournaments. But I want to be here because

575
00:29:42,039 --> 00:29:43,799
I want a golf and it's beautiful weather. But I

576
00:29:43,839 --> 00:29:46,799
want to be home because my grandkids are there. My

577
00:29:46,880 --> 00:29:48,759
mom's all alone now my dad passed away. I feel

578
00:29:48,759 --> 00:29:50,599
guilty I'm not with her. It's like, oh my gosh,

579
00:29:50,599 --> 00:29:55,079
I have it's that sandwich generation. But for me, it's

580
00:29:55,119 --> 00:30:00,480
grandkids and my mom and golf. But it's tough. It's

581
00:30:00,559 --> 00:30:03,000
really really tough. I don't know, don't know what the

582
00:30:03,039 --> 00:30:03,440
answer is.

583
00:30:03,759 --> 00:30:06,680
Speaker 2: I think that's like one area that you're talking about

584
00:30:06,680 --> 00:30:09,960
that if there's one thing that I wish people would

585
00:30:10,079 --> 00:30:12,400
realize about retirement is that there's going to be a

586
00:30:12,400 --> 00:30:14,319
bunch of things that are pulling on you that you

587
00:30:14,359 --> 00:30:15,960
didn't think we're going to pull on you and you

588
00:30:16,000 --> 00:30:18,400
so you if you did any planning in your mind

589
00:30:18,400 --> 00:30:21,119
of what retirement looked like, you forgot that your parents

590
00:30:21,200 --> 00:30:24,079
may need help and that your grandkids may need help,

591
00:30:24,519 --> 00:30:28,480
and that might not be exactly so those trips that

592
00:30:28,559 --> 00:30:32,079
you thought you were going to take may not happen,

593
00:30:32,480 --> 00:30:35,079
not because of money, but because of other factors that

594
00:30:35,160 --> 00:30:36,680
you feel responsible for.

595
00:30:37,519 --> 00:30:40,240
Speaker 1: Yeah, and bringing it then full circle, not that we're

596
00:30:40,279 --> 00:30:44,079
like GOB's wealthy, but we're okay enough financially that I

597
00:30:44,119 --> 00:30:47,039
can go home for ten days and see the boys

598
00:30:47,160 --> 00:30:51,680
play hockey, Thank goodness. So that's the planning from your

599
00:30:51,720 --> 00:30:55,440
perspective that I hope everybody finally gets to where they

600
00:30:55,480 --> 00:30:57,599
can take that trip home and go see their grandkids

601
00:30:57,680 --> 00:30:59,400
or whatever is important in their lives.

602
00:31:01,480 --> 00:31:04,000
Speaker 2: And as someone who loves hockey, I love hearing what you're.

603
00:31:03,880 --> 00:31:07,759
Speaker 1: Saying is growing up six years One of them is

604
00:31:07,799 --> 00:31:09,519
only six years old and he does this his.

605
00:31:09,480 --> 00:31:12,880
Speaker 2: First That's fun watching hockey. Six year olds are real

606
00:31:12,960 --> 00:31:13,599
fun watching.

607
00:31:14,440 --> 00:31:20,240
Speaker 1: Oh yeah, it's so, it's awesome. It's awesome. Now when

608
00:31:20,400 --> 00:31:23,440
now do you help people then actually pull the trigger

609
00:31:23,480 --> 00:31:25,559
and say, hey, I'm I'm done. This is it. I'm

610
00:31:25,559 --> 00:31:27,839
going to hand in my retirement. Notice. Do you get

611
00:31:27,880 --> 00:31:29,359
to have that kind of a conversation with you?

612
00:31:29,440 --> 00:31:32,039
Speaker 2: Oh? Yeah, I would say most people don't just show

613
00:31:32,119 --> 00:31:35,319
up after they make the decision. They usually come to

614
00:31:35,319 --> 00:31:40,200
me a year or two before the old famous I'm

615
00:31:40,240 --> 00:31:42,480
gonna work one more year. It is the most common

616
00:31:43,000 --> 00:31:44,519
most common phrase I hear.

617
00:31:46,839 --> 00:31:48,880
Speaker 1: Four years later, there's gonna work one more year.

618
00:31:49,680 --> 00:31:52,640
Speaker 2: Yeah, And it's definitely more of a I would say

619
00:31:52,680 --> 00:31:55,400
that's more of a guy thing like that. It seems

620
00:31:55,440 --> 00:31:58,160
like the husband is always well, I'm going to work

621
00:31:58,200 --> 00:32:03,720
one more year, and you know, I've changed my mind.

622
00:32:03,799 --> 00:32:07,400
I don't. This is the other thing that people don't

623
00:32:07,440 --> 00:32:09,680
get when they when they kind of try to DEI

624
00:32:09,799 --> 00:32:13,720
why their own retirement stuff. Every day somebody asked me

625
00:32:13,759 --> 00:32:17,720
a question that I don't know the answer to, right,

626
00:32:17,759 --> 00:32:19,720
And so we don't know what we don't know. And

627
00:32:19,839 --> 00:32:23,559
some of it is like when should somebody retire?

628
00:32:25,119 --> 00:32:27,920
Speaker 1: I get asked that a lot, right.

629
00:32:29,680 --> 00:32:32,519
Speaker 2: I probably am further from that answer than I was

630
00:32:32,559 --> 00:32:34,519
fifteen years ago. I would have said, oh, you got

631
00:32:34,519 --> 00:32:36,240
to do this because you've got to live your life.

632
00:32:36,440 --> 00:32:39,880
But then I'm always also like, this is your life,

633
00:32:40,279 --> 00:32:42,519
like does it add value? Purpose? And I think a

634
00:32:42,559 --> 00:32:45,039
lot of guys do, And I don't know why it

635
00:32:45,079 --> 00:32:47,200
is guys. I think guys have a harder time like

636
00:32:48,200 --> 00:32:51,559
creating a community and and that and like what am

637
00:32:51,599 --> 00:32:53,680
I gonna do? I can only mow my lawns so

638
00:32:53,759 --> 00:32:56,200
many times a week, and I can only go fishing

639
00:32:56,319 --> 00:32:58,559
so much, and I can only golf like they think

640
00:32:58,599 --> 00:33:00,640
they can. Some of them think they can golf like

641
00:33:01,079 --> 00:33:03,400
seven days a week. But they'll find out that that,

642
00:33:04,680 --> 00:33:10,039
you know, the honeymoon phase even if golfing will slow down.

643
00:33:10,920 --> 00:33:14,519
And so the trigger is usually a year or two

644
00:33:14,640 --> 00:33:16,359
before they come to me because they want to see

645
00:33:16,400 --> 00:33:18,640
am I on track? Do I need to work longer?

646
00:33:20,799 --> 00:33:23,799
Also that it's good to go a couple of years

647
00:33:23,799 --> 00:33:27,799
before because if there's any well, this is one thing

648
00:33:27,799 --> 00:33:29,839
that always kind of like I don't want to say,

649
00:33:29,880 --> 00:33:32,640
breaks my heart, but it makes me think, like, gosh,

650
00:33:32,640 --> 00:33:35,799
I wish they would have came earlier. Sometimes people come

651
00:33:35,799 --> 00:33:37,480
to me and they could have retired three years ago,

652
00:33:39,400 --> 00:33:41,680
and they wanted to retire by the way, they didn't

653
00:33:41,759 --> 00:33:44,519
enjoy their job. They didn't And it's like, man, if

654
00:33:44,519 --> 00:33:46,759
you wouldn't. And so that's the other thing that I think, like,

655
00:33:46,799 --> 00:33:49,319
you can never go like, no, if you come to

656
00:33:49,359 --> 00:33:50,920
me at thirty five, this is probably not going to

657
00:33:50,960 --> 00:33:54,000
be a great you know. But I think once people

658
00:33:54,039 --> 00:33:56,640
get in their fifties, if there's people that have interest

659
00:33:56,680 --> 00:34:01,359
in retiring early, they don't enjoy their job, and if anything,

660
00:34:01,799 --> 00:34:04,160
in today's world, there's a lot more work optional that

661
00:34:04,240 --> 00:34:08,480
people are looking for. Yeah, right, like not feeling that

662
00:34:08,559 --> 00:34:11,800
you have to work. So if I'm like Maureen, you

663
00:34:11,800 --> 00:34:16,000
know what, you could retire today and or you could

664
00:34:16,039 --> 00:34:19,360
retire and go work part time somewhere fifteen hours a week,

665
00:34:19,599 --> 00:34:21,440
would that you know what? Do you think your life

666
00:34:21,480 --> 00:34:23,599
would be more satisfied doing that so you can do

667
00:34:23,639 --> 00:34:24,159
other things?

668
00:34:24,280 --> 00:34:24,400
Speaker 1: Oh?

669
00:34:24,480 --> 00:34:27,280
Speaker 2: Yeah, I never thought about that. That is an area

670
00:34:27,320 --> 00:34:29,800
where I think most planners do a very bad job.

671
00:34:29,840 --> 00:34:31,360
I've had people come to me to say, well, my

672
00:34:31,360 --> 00:34:34,800
financial planner told them I couldn't retire, and I'm saying

673
00:34:36,280 --> 00:34:39,239
I said yeah, I said, well, well did you What

674
00:34:39,360 --> 00:34:41,719
did you guys talk about? And I remember one this

675
00:34:41,880 --> 00:34:43,800
lady told me, well, I was going to go work

676
00:34:43,800 --> 00:34:47,000
at Costco part time. Well did you tell him that? Well? No,

677
00:34:47,039 --> 00:34:51,639
he never asked me. Okay, Well that's that's a problem.

678
00:34:51,880 --> 00:34:52,079
Speaker 1: You know.

679
00:34:52,320 --> 00:34:55,000
Speaker 2: I usually want to ask people what the plan is

680
00:34:55,039 --> 00:34:58,719
and what are you thinking? Because there's always creative ways

681
00:34:59,280 --> 00:35:01,000
that you know, you you can come up with if

682
00:35:01,000 --> 00:35:03,199
you need to make more money. People are getting When

683
00:35:03,199 --> 00:35:04,880
I read an article the other day about people going

684
00:35:04,920 --> 00:35:10,239
to work at Starbucks so they could get health insurance. Retirees. Yeah,

685
00:35:10,239 --> 00:35:13,760
so yeah, you know. Anyways, they usually come to me. Yeah,

686
00:35:13,800 --> 00:35:16,159
a year or two before is with their goal, year

687
00:35:16,199 --> 00:35:18,320
or two before when they think they're going to retire.

688
00:35:19,440 --> 00:35:22,039
I have a lot of husbands that the spouses want

689
00:35:22,079 --> 00:35:24,719
them to retire, and so we need you know, I

690
00:35:24,880 --> 00:35:28,199
feel like, okay, and the person that deals with the

691
00:35:28,239 --> 00:35:30,599
money is normal who comes to me right at first,

692
00:35:31,280 --> 00:35:34,360
and it goes down the spectrum. Could be wife, could

693
00:35:34,360 --> 00:35:35,840
be a husband. One of them is always dealt with

694
00:35:35,880 --> 00:35:37,880
the money. That's who typically comes to me.

695
00:35:39,960 --> 00:35:43,639
Speaker 1: Okay, So let's say, well I am I'm sixty three.

696
00:35:43,800 --> 00:35:45,800
So let's say I'm a sixty three year old if

697
00:35:45,840 --> 00:35:47,320
I was an American and I would come to you,

698
00:35:47,360 --> 00:35:49,920
what would be the best advice you could give me

699
00:35:50,400 --> 00:35:51,840
if I'm getting close to retirement.

700
00:35:54,079 --> 00:35:56,360
Speaker 2: Well, I'll start I'll start there. We're going to start

701
00:35:56,360 --> 00:35:59,960
at the conversation like what does retirement look like for you? Marine?

702
00:36:00,559 --> 00:36:08,480
Speaker 1: I love that, yeah, because I think me money, of course,

703
00:36:08,559 --> 00:36:10,239
is one aspect. And we kind of got on this.

704
00:36:10,519 --> 00:36:12,199
I think you said there was the three but money

705
00:36:12,280 --> 00:36:15,400
is one aspect. But without knowing what your retirement's going

706
00:36:15,480 --> 00:36:18,119
to look like what you want to achieve in retirement,

707
00:36:18,159 --> 00:36:20,039
what you want to do, and what gives you a purpose,

708
00:36:20,119 --> 00:36:21,880
the reason to get up in the morning. Well, money's

709
00:36:21,960 --> 00:36:23,400
just a piece of paper.

710
00:36:24,599 --> 00:36:26,639
Speaker 2: Yeah, I think of money as a tool. It's like

711
00:36:26,760 --> 00:36:30,559
gasoline for your car, right, Like, none of us buy

712
00:36:30,599 --> 00:36:33,480
a car. Well, there are some car people. I do

713
00:36:33,599 --> 00:36:36,960
like cars, but we're not really buying Most people are

714
00:36:36,960 --> 00:36:41,239
buying cars for transportation to get us to somewhere, right,

715
00:36:41,960 --> 00:36:44,360
and we need the gasoline to get us there. But

716
00:36:44,400 --> 00:36:48,320
the gasoline is fairly irrelevant to our lives, I mean, right, Like,

717
00:36:48,920 --> 00:36:50,840
we don't really care how that car gets powered, whether

718
00:36:50,920 --> 00:36:53,000
it's gas or electric. As long as that thing goes

719
00:36:53,000 --> 00:36:54,599
down the road and goes where I wanted to go

720
00:36:54,960 --> 00:36:57,599
to take my kid to practice, or to go on

721
00:36:57,639 --> 00:37:00,320
that vacation, or to go to work. That's the point

722
00:37:00,320 --> 00:37:03,639
of that. For your money, it's the same thing. Like

723
00:37:03,719 --> 00:37:07,760
we give too much credit to what money is. Money

724
00:37:07,760 --> 00:37:11,400
should just be the fuel of our lives and to

725
00:37:11,440 --> 00:37:15,079
help us actually create the purpose that matters to us. Right.

726
00:37:15,480 --> 00:37:15,679
Speaker 1: Yeah.

727
00:37:15,960 --> 00:37:21,199
Speaker 2: So you know, I use a different software that I

728
00:37:21,199 --> 00:37:23,400
started using about a year ago, and it's different most

729
00:37:23,480 --> 00:37:25,519
planning software is and I'm not sure how it is

730
00:37:25,519 --> 00:37:28,119
again in Canada, it gives you what's called the probability

731
00:37:28,159 --> 00:37:34,440
of success. Okay, what's your probability of success? You tell

732
00:37:34,519 --> 00:37:37,440
me everything you need. If I ask the right questions,

733
00:37:37,440 --> 00:37:39,239
you might write how much money you need to spend

734
00:37:39,280 --> 00:37:42,840
blah blah blah. The last year I've been using a

735
00:37:42,840 --> 00:37:45,760
different software and the way it works is it gives you.

736
00:37:46,199 --> 00:37:48,519
Instead of you telling me that you need ten thousand

737
00:37:48,559 --> 00:37:51,159
dollars a month to live, I tell you how much

738
00:37:51,199 --> 00:37:56,400
money you can spend your max spending. And I've found

739
00:37:56,440 --> 00:37:59,360
that to be so much more powerful for clients because

740
00:37:59,599 --> 00:38:03,800
because in reality, which typically happens from savers, they're spending

741
00:38:03,840 --> 00:38:07,159
ten thousand dollars a month. I'll lower that number because

742
00:38:07,159 --> 00:38:09,079
I don't want it to sound because everybody's you know,

743
00:38:09,079 --> 00:38:11,119
in their own mind right, So lots of people I

744
00:38:11,119 --> 00:38:12,960
would say where I live. I live in Michigan, I

745
00:38:12,960 --> 00:38:16,159
live in the Midwest, and I live in a fairly

746
00:38:17,239 --> 00:38:19,639
inexpensive place to live if you compare it to the

747
00:38:19,679 --> 00:38:22,679
rest of the country. Okay, so most people that might

748
00:38:22,719 --> 00:38:26,239
be spending five, six, seven thousand dollars a month to live, well,

749
00:38:26,760 --> 00:38:28,480
when they came to me, that's what they were spending.

750
00:38:29,039 --> 00:38:32,119
But with this software gives these guard rails, and it

751
00:38:32,199 --> 00:38:34,840
might say, well, you could be spending ten thousand a

752
00:38:34,880 --> 00:38:39,079
month at your current what your current plans are and

753
00:38:39,760 --> 00:38:44,519
the current investments you have, and what the guardrails is is.

754
00:38:44,559 --> 00:38:47,119
It might say, well, if the stock if your portfolio

755
00:38:47,239 --> 00:38:50,920
went down fifteen percent now instead of ten thousand, you

756
00:38:50,920 --> 00:38:55,239
can only spend ninety seven hundred. Okay, so make adjustments.

757
00:38:55,639 --> 00:38:58,760
But see you are only spending seven So if I

758
00:38:58,840 --> 00:39:00,920
told you could only spend nine tenty seven hundred, that

759
00:39:01,000 --> 00:39:04,679
doesn't scare you. But at least you have something to

760
00:39:04,800 --> 00:39:08,039
look at. See, probability of success doesn't really give you

761
00:39:08,079 --> 00:39:09,599
a lot to look at. And this is the thing

762
00:39:09,599 --> 00:39:12,199
everybody wants ninety to do one hundred. Here's the problem.

763
00:39:12,239 --> 00:39:14,960
If you have ninety or one hundred probably success, your

764
00:39:15,119 --> 00:39:21,119
likelihood to die with a lot of money is very high. Right.

765
00:39:21,199 --> 00:39:23,440
But if I told you that you had seventy percent

766
00:39:23,480 --> 00:39:27,079
probability success, which actually all that means is there's a

767
00:39:27,159 --> 00:39:29,280
thirty percent chance that you might have to make an

768
00:39:29,320 --> 00:39:34,159
adjustment to your spending, right, which isn't bad, no, but

769
00:39:34,239 --> 00:39:37,039
it's scary. Wait, hold on, I want I don't want

770
00:39:37,079 --> 00:39:41,840
seventies seventies a c right. So anyway, so what that

771
00:39:41,920 --> 00:39:44,400
also does that guardrail system that I think really has

772
00:39:44,400 --> 00:39:48,719
helped clients, is it says, hey, I spend seven, I

773
00:39:48,760 --> 00:39:52,719
could spend ten. So when my grandkids come over and

774
00:39:52,760 --> 00:39:55,440
I take them to dinner, now I don't feel bad

775
00:39:55,519 --> 00:40:01,719
when they get the extra you know, appetizer because true, yeah,

776
00:40:01,800 --> 00:40:06,480
we're questioning if that appetizer's worth the value, right yep.

777
00:40:07,000 --> 00:40:08,920
And I remember a client told me after I started

778
00:40:08,960 --> 00:40:11,719
using the software, and this is this is what's important

779
00:40:11,719 --> 00:40:15,639
to me, she said, And she was one. She's a

780
00:40:15,679 --> 00:40:18,360
client who is a single person, but she goes on

781
00:40:18,400 --> 00:40:20,960
lots of trips and she and she loves to travel,

782
00:40:21,199 --> 00:40:23,480
and she's a she's been a great saver. She's just

783
00:40:23,760 --> 00:40:27,239
savor numbers person. And once we saw there was a

784
00:40:27,239 --> 00:40:31,440
good barrier there, she just said, the confidence of making

785
00:40:31,480 --> 00:40:33,960
that decision to go to Hawaii that she wanted to

786
00:40:34,000 --> 00:40:39,239
do was huge. I got a message the other day

787
00:40:39,280 --> 00:40:42,280
with a client that I'm talking to a client of

788
00:40:42,320 --> 00:40:44,719
mind and she and we're talking and she wants to

789
00:40:44,719 --> 00:40:46,320
know can she go to Paris this summer? Can she

790
00:40:46,320 --> 00:40:49,519
go to this right and she sends me a message,

791
00:40:49,679 --> 00:40:54,480
this is Friday night. I booked the Paris trip, and

792
00:40:55,000 --> 00:40:57,519
I want people to get that. That's what it's supposed

793
00:40:57,519 --> 00:40:59,679
to be about. Now it doesn't have to be Paris.

794
00:40:59,760 --> 00:41:02,239
It you took the grandkids to the you know, amusement

795
00:41:02,239 --> 00:41:07,159
park or whatever. It's it's that that's the focus in

796
00:41:07,199 --> 00:41:11,639
this client, in particular, she has some friends that have

797
00:41:11,719 --> 00:41:13,960
a lot more money than her, and they don't do anything.

798
00:41:16,400 --> 00:41:19,559
They just sit because they're too worried. See. You think

799
00:41:19,599 --> 00:41:22,320
that the more money you have, the less worried you'd get.

800
00:41:23,599 --> 00:41:27,239
But the great Rockefeller he said, and when they asked

801
00:41:27,320 --> 00:41:29,920
him if you had enough money, he said he just

802
00:41:29,920 --> 00:41:34,599
needed a little bit more. Wow. And so what psychology

803
00:41:34,639 --> 00:41:36,280
has taught us is the more money we have, this

804
00:41:36,400 --> 00:41:38,599
is kind of weird, but we actually are more concerned

805
00:41:38,639 --> 00:41:40,920
because we have more to lose in our minds.

806
00:41:41,360 --> 00:41:44,119
Speaker 1: Oh.

807
00:41:44,559 --> 00:41:46,840
Speaker 2: Now, I'm not telling you don't have money. I'm just.

808
00:41:48,639 --> 00:41:50,599
Speaker 1: Sure. But that's one of the things I think that

809
00:41:50,920 --> 00:41:55,119
really made me think about you more often from a

810
00:41:55,159 --> 00:41:57,440
financial planning is you're all about that relationship. For a

811
00:41:57,480 --> 00:41:59,199
client to call you on a Friday night to say

812
00:41:59,239 --> 00:42:02,800
they booked the trip. That's a relationship built.

813
00:42:02,920 --> 00:42:04,840
Speaker 2: They emailed me. I just want my clients to know

814
00:42:04,840 --> 00:42:07,039
they emailed me. There, you know, perfect.

815
00:42:08,000 --> 00:42:10,039
Speaker 1: Yeah, but that's that's great for somebody to do that

816
00:42:10,119 --> 00:42:11,920
and to trust you and to know that you would

817
00:42:11,920 --> 00:42:14,599
be excited for them. That's freaking awesome.

818
00:42:15,400 --> 00:42:20,800
Speaker 2: Yes, yeah, no, yes, no, it just it made my weekend, right, Like,

819
00:42:20,840 --> 00:42:22,320
this is why I do what I do. I don't

820
00:42:22,320 --> 00:42:24,679
know why other planners do it. This is why I

821
00:42:24,679 --> 00:42:26,360
do what I do is I want people to live

822
00:42:26,400 --> 00:42:28,719
a better life and if I can help a little

823
00:42:28,760 --> 00:42:31,719
bit with that. The same reason you're making this YouTube channel,

824
00:42:31,920 --> 00:42:34,400
the same reason you have the Facebook group. There's no

825
00:42:34,639 --> 00:42:36,679
you know, the benefit for you is that hopefully you

826
00:42:36,760 --> 00:42:39,519
can help some people have a little bit better life.

827
00:42:40,679 --> 00:42:43,400
Speaker 1: Yeah. Yeah. My sort of tagline is I want to

828
00:42:43,400 --> 00:42:46,960
make your retirement remarkable in whatever situation your life is in.

829
00:42:47,760 --> 00:42:51,119
So okay, now, as we're winding down slowly, I know

830
00:42:51,199 --> 00:42:53,599
you have that die with your who's the author of

831
00:42:53,639 --> 00:42:54,440
that one?

832
00:42:54,920 --> 00:42:55,719
Speaker 2: Bill Perkins?

833
00:42:56,719 --> 00:42:58,960
Speaker 1: Bill Perkins? So you say that's your number one book?

834
00:42:59,639 --> 00:43:01,960
Speaker 2: Yeah, And so I have to preface that book because

835
00:43:01,960 --> 00:43:05,320
people have an opinion before they read it. Because the

836
00:43:05,800 --> 00:43:09,679
titles called die with Zero, which sounds very provocative. And

837
00:43:09,679 --> 00:43:11,800
when I whenever I say the word die with zero,

838
00:43:11,880 --> 00:43:13,559
you know, if I say it to myself, that sounds

839
00:43:13,639 --> 00:43:17,480
very scary and fearful. And I tell people you need

840
00:43:17,519 --> 00:43:21,440
to think it's really about dying with zero regrets. It's

841
00:43:21,480 --> 00:43:27,559
not about dying with zero dollars, right, it's dying with

842
00:43:27,639 --> 00:43:29,960
zero regrets? And how do you time bucket your life?

843
00:43:30,000 --> 00:43:31,920
And there's a bunch of things in there. The guy

844
00:43:32,039 --> 00:43:33,960
is a rich guy, so I tell people take it

845
00:43:34,000 --> 00:43:35,679
with a grain of salt. I think he's worth over

846
00:43:35,679 --> 00:43:38,480
one hundred million dollars or something like that. Right, So, no,

847
00:43:38,599 --> 00:43:40,639
you're not going to do everything he's going to do.

848
00:43:40,760 --> 00:43:43,159
But it completely chang I'm going to tell you this.

849
00:43:43,280 --> 00:43:47,880
It completely changed the way I live my life from

850
00:43:47,880 --> 00:43:52,159
being a saver not to a spender. I'm not going

851
00:43:52,199 --> 00:43:54,159
that dror. I'm not like, hey, but there's a but

852
00:43:54,239 --> 00:43:59,800
there is spending, okay, and the other way. The big take.

853
00:44:00,400 --> 00:44:02,159
I won't give out too much stuff, but something in

854
00:44:02,159 --> 00:44:06,239
there that really I think about for all people. The

855
00:44:06,239 --> 00:44:09,480
Federal Reserve says that average inheritance goes to people when

856
00:44:09,480 --> 00:44:14,199
they're sixty years old. So what I say to people is,

857
00:44:14,199 --> 00:44:16,800
if you get an inherit, it's at sixty marine right now.

858
00:44:16,800 --> 00:44:19,559
If you got inheritance at your age and you've been

859
00:44:19,599 --> 00:44:23,159
a good savor, it's not adding any value to your life.

860
00:44:23,199 --> 00:44:25,199
I'm not saying the money is bad. I'm just saying

861
00:44:25,199 --> 00:44:27,320
this is you're not suddenly going to go do a

862
00:44:27,320 --> 00:44:29,320
bunch of things that you wouldn't have done. So why

863
00:44:29,320 --> 00:44:36,079
do I say that, I'm not Most people don't want

864
00:44:36,079 --> 00:44:38,559
to give their money to their kids until the end.

865
00:44:38,679 --> 00:44:40,440
I think there's a couple of reasons. One is that

866
00:44:40,559 --> 00:44:42,719
they don't want to run money, which is a fair thing.

867
00:44:44,199 --> 00:44:45,760
But then a lot of them aren't even gonna come

868
00:44:45,800 --> 00:44:53,960
close to running out of money, so then it's really about.

869
00:44:53,000 --> 00:44:53,159
Speaker 1: There.

870
00:44:53,320 --> 00:44:55,519
Speaker 2: You can give money to your kids without giving money

871
00:44:55,519 --> 00:44:58,519
to your kids. And what I mean by that is

872
00:44:59,239 --> 00:45:01,199
if they haven't under standing and what they may get

873
00:45:01,320 --> 00:45:03,840
they might make. Most people that are good savers their

874
00:45:03,920 --> 00:45:05,719
kids are good savers. By the way, this is kind

875
00:45:05,760 --> 00:45:10,199
of a goes down if they have an understanding that

876
00:45:10,320 --> 00:45:13,559
they will probably get a decent inheritance as long as

877
00:45:13,599 --> 00:45:15,599
the parents don't spend. If they spend it, they spend

878
00:45:15,679 --> 00:45:18,519
it that they might take their kids on a family

879
00:45:18,599 --> 00:45:21,400
vacation because they didn't think they could. And so you're

880
00:45:21,440 --> 00:45:23,679
not actually giving them any money. But what you're giving

881
00:45:23,719 --> 00:45:28,480
them is power to make different decisions and memories.

882
00:45:28,519 --> 00:45:30,639
Speaker 1: Maybe again, like we talked about more memories.

883
00:45:31,320 --> 00:45:34,400
Speaker 2: Yeah, I read an article about a gentleman that him

884
00:45:34,400 --> 00:45:36,719
and his wife. They live in Florida. I don't remember

885
00:45:36,760 --> 00:45:40,159
their names, but they he was, you know, two kids

886
00:45:40,239 --> 00:45:43,000
saving their living paycheck to paycheck. They don't have any money.

887
00:45:44,159 --> 00:45:46,880
They just have enough to live and they have good jobs.

888
00:45:46,880 --> 00:45:51,719
They're just whatever right life. They they think their parents

889
00:45:51,760 --> 00:45:55,039
are okay, but that's all they know. Comes to find

890
00:45:55,039 --> 00:45:56,840
out that he finds out his dad has over ten

891
00:45:56,880 --> 00:46:00,000
million dollars and he's over here struggling and he can't

892
00:46:00,079 --> 00:46:02,280
take any vacation with his kids. His dad doesn't know

893
00:46:02,400 --> 00:46:06,000
him anything. But the reality is, I'm not sure if

894
00:46:06,039 --> 00:46:08,960
his dad wants that for him either. It's like, if

895
00:46:09,000 --> 00:46:11,840
you could just pay for your kit, you take the

896
00:46:12,519 --> 00:46:16,000
I'm not even telling you. Memory dividends re it right, grandparents,

897
00:46:16,360 --> 00:46:19,000
take your kids and your grandkids on a vacation if

898
00:46:19,000 --> 00:46:22,039
they can't afford it, enjoy it for yourself. You say,

899
00:46:22,119 --> 00:46:25,039
I don't Okay, I don't like drive the scooter around Disney.

900
00:46:25,079 --> 00:46:26,679
You don't got to go on the park. You know.

901
00:46:26,760 --> 00:46:30,159
It's like we gotta think differently. That's what I want

902
00:46:30,199 --> 00:46:31,840
people to get from some of those things is in

903
00:46:31,920 --> 00:46:34,920
these conversations is open up, open up a little bit

904
00:46:34,960 --> 00:46:38,079
to ideas that you didn't know existed, because if you

905
00:46:38,119 --> 00:46:42,400
want to create. There's a there's a book called Happy Money,

906
00:46:42,440 --> 00:46:44,760
which I don't know if there's two Happy Money books.

907
00:46:44,840 --> 00:46:47,920
One is by doctor Dunn, and that is about they

908
00:46:47,960 --> 00:46:51,039
do all these experiences giving money and how it impacts

909
00:46:51,079 --> 00:46:56,280
your life. And then there's the other one that's I

910
00:46:56,280 --> 00:46:59,400
think he's I think he's a Japanese guy, and that's

911
00:46:59,400 --> 00:47:02,239
more of a different thing about Happy Money. But they're

912
00:47:02,239 --> 00:47:04,800
both great books. But that's not what you had a

913
00:47:04,880 --> 00:47:06,719
question about two books. I gave you that one and

914
00:47:06,719 --> 00:47:10,559
then the other one, The Psychology of Money, is a

915
00:47:10,599 --> 00:47:13,559
great one by and actually he just wrote a new

916
00:47:13,559 --> 00:47:15,039
book I haven't read yet, and that is how I

917
00:47:15,079 --> 00:47:18,159
think it's called How the Art of Spending Money, and

918
00:47:18,199 --> 00:47:23,039
that's the Psychology Money is by Morgal Hausel, and there's

919
00:47:23,079 --> 00:47:25,639
a lot of great takeaways. But even as a financial planner.

920
00:47:25,679 --> 00:47:27,360
One of the takeaways that I took from that book

921
00:47:27,480 --> 00:47:31,559
was everybody does as good as they can do with

922
00:47:31,639 --> 00:47:37,360
the information that they have. Yeah. Yeah, right, So the

923
00:47:37,400 --> 00:47:41,760
person driving that expensive Ford f one fifty, it's amazing.

924
00:47:41,840 --> 00:47:44,599
I'm sitting here and saying expensive Ford f one fifty

925
00:47:44,920 --> 00:47:46,840
and it's your neighbor, and he doesn't have any money,

926
00:47:46,920 --> 00:47:49,960
but he's got a thousand dollars car payment, and you're thinking,

927
00:47:50,159 --> 00:47:52,320
what's wrong with that person? I'm over here driving my

928
00:47:52,320 --> 00:47:55,639
toileta camera that's paid off, and I'm a millionaire next door.

929
00:47:55,639 --> 00:47:59,159
What are you doing? He's using the information that he has,

930
00:47:59,280 --> 00:48:03,880
so judging doesn't really serve you know, anybody.

931
00:48:05,119 --> 00:48:09,800
Speaker 1: Yeah, that's really that's good. Okay, well let's leave that

932
00:48:10,039 --> 00:48:14,280
at this today. Thank you. Any Anyhow, if there is

933
00:48:14,320 --> 00:48:16,360
somebody out there that would like to have a conversation

934
00:48:16,440 --> 00:48:17,719
with you, how do they get a hold of you?

935
00:48:17,800 --> 00:48:20,360
What's their best thing? Your website or how do they

936
00:48:20,400 --> 00:48:20,679
do this?

937
00:48:21,719 --> 00:48:24,039
Speaker 2: Yeah? You can probably EASi this way as I have

938
00:48:24,079 --> 00:48:26,800
a thing on my website. My website is face the

939
00:48:26,880 --> 00:48:33,360
number two face planning dot com. So I'm Brian Face,

940
00:48:33,400 --> 00:48:36,079
and yes there's a there is a you know name

941
00:48:36,440 --> 00:48:39,119
my last name and the name of the business is

942
00:48:39,599 --> 00:48:41,840
so yeah. There's a fifteen minute intro that if you

943
00:48:41,880 --> 00:48:44,400
want to chat, you can chat. You obviously have an idea,

944
00:48:44,639 --> 00:48:46,599
you know what we're focusing on. Then I am in

945
00:48:46,639 --> 00:48:49,559
the United States, as we talked about, so I work

946
00:48:49,559 --> 00:48:52,000
with clients in the United States, and that's that's probably

947
00:48:52,079 --> 00:48:54,679
primarily my knowledge base. I guess i'd say.

948
00:48:55,480 --> 00:48:58,239
Speaker 1: Yeah, and I'll put your link in of your website

949
00:48:58,239 --> 00:49:00,519
into the comments when we do this. So thank you.

950
00:49:00,679 --> 00:49:03,639
I really really really appreciate this. I don't focus on

951
00:49:03,719 --> 00:49:06,360
money a lot, and so it was very enjoyable to

952
00:49:06,440 --> 00:49:11,519
hear your side, which aligns so much with my side

953
00:49:11,639 --> 00:49:14,320
of a lifestyle rather than just focusing on the dollars

954
00:49:14,320 --> 00:49:17,480
in the technical aspect. So thank you Brian for having

955
00:49:17,480 --> 00:49:18,519
this conversation with me.

956
00:49:19,039 --> 00:49:19,840
Speaker 2: Thanks for having me