everyone has their own unique views and needs it comes to financial success if you'd like to leave your financial woes behind and live a life of Financial Freedom you've come to the right place today saving with Steve show hosted by Steve Sexton the show will help you with the ins and outs of money we talked about financial issues that could be costing you thousands of dollars and keeping you up at night we talked about money tax reduction saving more spending less 401K risk management retirement and everything under the sun that relates to you having a healthier happy relationship with money now here is your host of saving with Steve Steve Sexton<br>hello welcome to the Shameless Steve shall we talk about the ins-and-outs of money pretty much everything on the side of a lie to you having a happier healthy relationship with money my name is Steve sex and I want to thank you for joining us today thank you for sharing with your friends and family and went to had a reasonable second I'm going to talk about the impact of inflation but we really have a wonderful topic today and here's a question what should I call you younger people understand about finances and for the segment we have Steve Davies he's our CEO total wealth Academy he's a radio host after 30 years of coaching and setting successful people Steve is figure it out formula at work so the key is a second stream of income above and beyond your job Stevens chest on everything from finances to romance has to well Steve has been featured in good at Houston Forbes cancel NTD news and more Stephen Strange a hundreds of thousands of people seeking a price<br> go to path to financial empowerment so Steve I want to welcome you to the show thank you for being here thank you for having me it's an honor actually the honor is mine because this is a topic that is very near and dear to my heart I think it's very very important for people who are younger to start understand what's going on in the financial world I just got to say that there's too many people that don't understand stuff and I know they're not teaching in school and most people don't even learn it while they're in college and they typically have to learn on the seat of their pants or they have somebody like you were they don't listen to radio show I think it's very very important questions I love to ask people this well what happened for me is I was on the corporate path I had been given a map to success the same one everybody is given you no go to college get out get a job with a major corporation with high pay and good benefits then scrimp and Save<br> work for 45 years retire and live off your savings and that was the model I was using well the fifth year of end I was working 60 70 hours a week won a national sales contest won a trip to Hawaii and when I got back from Hawaii they cut my pay by 20 grand a year and what that did was it woke me up to the dangers of depending on a job for your income it's a high-risk position and I started this was in the 80s this was 89 I couldn't sleep I was losing my wife because I was working 70 hours a week nobody likes this joke but if you're working 70 hours a week who's Romancing your wife it ain't you and I was like losing my wife I'm broke I'm now negative cash flow because they cut my pay there was this thing on late night TV called an infomercial infomercials where Carlton<br> he'd stay Del dotto Tommy boo all these guys talking about investing in real estate and so I took my last credit cards and bought about $30,000 worth of books and boot camps and things like that and started investing in real estate initially I really wasn't an investor I was a wholesaler in flipper that's not true investing but I was at least in real estate three months later I was able to quit my job because I was making more money with that than I was at my job that allowed me to rescue my marriage because I no longer I had to waste those 60 70 hours a week I was only working maybe 10 or 12 hours a week I just started studying and reading everything I could get on finance money well balanced living and I love to teach it I would share with my friends and for some reason I had<br> I don't know what it is fine it was just fun to share the ideas with my friends and none of them did anything with it but it was fun to share the ideas and show them what I was doing eventually I realized that's what I love to do with th I keep my money in real estate but I'm all passive in real estate I don't do any active investing I spend all my time teaching so that's the short version of how I got into it I actually there's probably almost everybody on this is listening to say his experience that is what I mean by that is I went from developing business is overseas and not wanting to travel to working for a major corporation here in the United States I purposely took a lower position and I was dropped into the worst location<br> sitting at this executive meeting where they're all talking about you know where we give our plans and how we're doing and why we're doing it all that stuff three months later I was moved into another office it was the worst one of the bunch and it again and then next thing I know I'm getting moved from office to office building it in somebody else's taking it over and they're making the money while I'm staying down here and I'm like yeah I can't do this too long so I actually got up for the same reason because I saw that and my daughter she just graduated got her Masters which is really great but she's got a friend who has been working and just got married and her husband's and great job and all that stuff he just got laid off cuz they're doing it downsizing so the reality of a<br> layoff is pretty prevalent in the reason why is because back in the seventies people they work for 30-40 years and they were able to stay there but now you might have four five jobs throughout your lifetime that is so true and people don't realize that I heard one time Steve that the average person only stays on the job for seven years will you divide that by 45 years what is that that's six or seven job something like that when you said risk and the reality if you work for yourself it's entirely different you can make your own way I really think that's important but I also think it's important for younger people to understand that so they can look at taking a different path or path that better suits them let's start with the very first question why should you anger people be learning but love your take on that the reason is and you mentioned it which excited me<br> we understand that the same way they don't teach it in high school and if you want to get it in college you got to seek it out it's not in the standard or required program they just don't teach people about money and this goes to the point that the rich are teaching their kids differently than the poor in the middle class when my son was eight I gave him a copy of the richest man in Babylon by George Klassen and I told him I said Son you need a second stream of income now let's go do some Legos<br> and when he turned nine 10 11 I kept reminding him remember to build a second stream of income when he turned eighteen I said okay remember build a second stream of income and by the time he graduated college he had 11 rent houses in $4,000 a month in second stream of income and people will say well your son must be brilliant he must be a hard worker I'm telling you he is but so are you so is every listener their brilliant they're hard workers but how many of them were told to build a second stream of income when they were 8<br> none of them so they went out with a different map and it's sad to say but that Matt doesn't work very well anymore if you look at the statistics and you really analyze them 95% of Americans really are failing to retire by age 65 95% and they're becoming burdens on the government burns on their kids<br> that's not their goal those people are good people they work hard for 45 years but they had the wrong that I definitely don't disagree with that and I think that's really important one of things she said saved many people take on the same financial habits of their parents because they're doing what they see not doing what they're told so you showed your son hey this is how I go about do this and probably wouldn't let you a couple times but you kept redirecting it reiterated reiterating it and I think that's really important for people to understand kids are going to do what they see not with their been told ya and Steve the other thing is there's a you know that map that I gave it's actually a lie to say you know you're going to work for 45 years for the same company you're going to be able to save up two or three million bucks it's a lie<br> but the people who are telling you don't know it's a lie in other words the parents are telling him that now then they go to high school the high school teachers tell him that man when they go to college the college professors teach a map map here's the problem where your parents High School teachers are college professors multi-millionaire entrepreneurs no they don't know how to be successful they're giving the wrong map over and over again and here's the cash they don't realize it's the wrong that till they're 6570 or dead<br> so it's not getting past on my dad when he was 65 put his hand on my shoulder and he goes Steve I'm glad you're investing in real estate because what I did didn't work I don't believe there's many men or women that have the fortitude or the courage to say that to their kids but I'm so glad he said it to me everybody wearing a stop right there you want to stick with us we're going to write back with more shaving with Steve and Steve Davis<br> more expert advice for having a happier relationship with money still to come on the saving with Steve show<br> don't let your financial woes keep you up at night and prevent you from living a life of Financial and personal freedom hi I'm Steve Sexton host of the saving with Steve show where to be talking about the ins-and-outs of money those financial issues it could be costing me thousands of dollars causing stress keeping you up at night we're going to talk about money tax reduction saving more spending less your investment risk management retirement and everything is so sweet with you having a healthier happy relationship with money soon as you've ever dreamed of living a life of Financial and personal freedom you owe it to yourself and your family to tune in to the saving with Steve show join me Steve section of the saving with Steve show as we talked about everything under the sun when it comes to money to learn more about the show visit saving with Steve. Us that's saving was Steve. Us saving with Steve. Us will see you soon<br> welcome back to the show that is here to help you achieve your financial goals it's the saving with Steve show host Steve Sexton<br>hey welcome back to the shaving with Steve show where we talked about the ins-and-outs of money pretty much everything under the sun really see you having a happier or healthier relationship with money I truly want to thank you for tuning in I appreciate you letting your friends & Family Associates know about the show all the replays are available at standing with Steve. Us and if you're enjoying the stories of helpful information inside on saving this evening and courage you to subscribe to your YouTube channel you probably don't want to miss her some of our feelings here at UK help radio BBS radio talk radio in New York City e360 TV in Las Vegas TV networks all these networks are dedicated to empowering you to solve problems uplift your spirit and live a life of personal financial Freedom you can also follow us on Facebook at saving with Steve sex and being an Insider's Club you can see the sign finishing stuff you can eat you can see the day we have a Transformer pole go down so we had to stop and start again so that might be interesting to you all as well so what that we have Steve Davis he's the CEO<br> total wealth academies we've been talking about what should your anger people understand about finances to see welcome back to the second part of the show how should young girl people be taught I think this my opinion is that people should go back in time<br> to the early 19th century if Geno there was Andrew Carnegie Napoleon Hill George Klassen and that was when they really began to study human success self development at least I know they were self-development forever probably three thousand years but those books are the starting point the problem is that it's hard for a parent to teach a child about Finance if they don't understand understand<br> so they've got the read the books as well the richest man in Babylon by George Klassen is a masterpiece and probably the most important Financial book driver read that explains starting with nothing and ending up the richest man in Babylon every step of the way so I think reading is the number one thing but a close I would say it's a tie with it's our responsibility as parents to do well financially because you brought it up earlier<br> if you tell your kid to do something different than you're doing they don't hear you they see what you're doing if you go through life living paycheck-to-paycheck working jobs you don't why didn't your unhappy you're teaching your kids to do that to it is our responsibility to do well financially so you got to read you got to excel in leadership because leadership is by example<br> that's how you teach your kids by showing them has wonderful we had this day when my kids were young in school and they brought me in there because like you I seen you on the local news shows and I've done a number of those things are more than 15 years now because I had for some reason been on a whole bunch of them in a short. Of time they had me come in and talk to my kids they asked me to do a little class on budge in your Finance for little kids and I asked him I said hey what's the thing you want to buy what do you want your parents to buy it somewhere saying Lego some girls were saying dolls and stuff like that I said so how much money does that cost<br> I don't know I just want it so let's take a look and I pulled up the Lego set and it was $12 I said you have $12 just now I said how you going to get $12 and I said well so how many weeks is going to take you to say about 4 that Lego set and he says well at least 12 weeks we are I want to get some lunch and stuff like that I said well okay so how are you going to have to stay home then he realized that he was going to have to shave for almost 3 weeks to get the Lego set because it was spending I said so what are you going to stop spending on in order to get there they started getting it that hey I'm going to have to stay for this I'm going to have to do stuff to get this my parents aren't the bank here if I'm going to want to get these days<br> and I think one of the things that you're saying is people need to realize early that Mom and Dad aren't the bank and they've got to do things on their own just like you taught your son<br> yes and I also think Steve we've got to get away from telling people to say what they don't have I've never saved the million dollars but I've made a million dollars in other words to save a million dollars you got to make it and telling American citizens you know you need a million or more to retire but I was doing the math after 45 years with an average income around 50 Grand a year which is what it is in the US that's 2.2 million dollars at the end of 45 years or 2.5 million dollars and we're supposed to save a million of that<br> what about garbage gas electric water mortgage insurance cars Transportation fun what about enjoying your life a little bit during those 45 years I think that we need to spend about 5% of our time on budgeting and saving and 95% of our time on making more money building a second stream of income when you look at the 5% of Americans who do retire successfully<br> almost all of them had multiple streams of income second and third and fourth and I think you know I always say 70% use real estate well I got corrected me the other day and said it was 90% used real estate to do it that you got to work on making more money this concept of save save save budget budget budget if you don't make it you can't budge it or save it you've got to figure out a way to make more money I totally agree with that it's interesting you see people complaining about the minimum wage it doesn't get you anywhere no and it goes back to your point about it I mean if you live in California $50,000 put you in poverty okay I'll just the way it is because the cost of living so darn High you can't even for a home if you got $100,000 in California okay you're going to have to have a 2in cuz you're going to be working all the time cuz it's so expensive the reality is if<br> not making more money or finding ways to make more money you're never going to be there so I totally get that now I have a question for you seeing you have your radio show how does it work with your organization total wealth Academy what we do is we teach people how to use real estate to build a second stream of income both actively and passively active would be single-family passive would be commercial big apartment complexes self-storage complexes and what people do is they're taking their 401ks and IRAs moving it out of the stock market investing passively in the syndications that are buying apartment complexes and our internal rate of return has been over 20% on every deal we've done over the last five years is starting to get a little higher cuz prices are dropping but<br> we're making three times what the stock market does an its cash flow is not just Equity is cash flow bills come in every month you need money every month cash flow comes in every month so that's what's changing people's lives and is I like the way you said cash flow because the reality is retirement sorry about the income you have to create the lifestyle you want and if you're never with you don't have the income isn't going to go anywhere a million dollars you just don't you know that's great the million-dollar but you're not able to keep keep create an incoming what we seen her last year we seen a 20% decline in market prices so if you see a 20% decline in market prices from the stock market hey I only have $800,000 when I used to have a million and I still got to take that damn job and I could handle eyes at first of all the way down if it's not stressing right and when you're talking about it with a real estate but it never completely<br> the way in the rents are always still there so you always have that cash or which makes it a more stable income and that's a wonderful way to look at things what people don't think about and I know what I'm about to say is brutal but if you save your way to retirement and you even walk away with a million dollars at 65<br> you know what you're praying you're picking a God and going God please kill me before I run out of money that's not a good way to live if you build a second stream of income it comes in whether you live 10 years or 50 years in retirement doesn't matter so your point about cash flow<br> yeah I like the way you said that and I hope you don't mind I'm going to use up anytime cash flow is is King<br> because the bills keep coming in and then the other misconception is that your bills get lower as you get older cuz your kids are graduated college and all that but they forget about medical expenses<br> CPA friend of mine goes yeah it's $700,000 to live to 84<br> the average couple will spend $700,000 in medical costs if they lived 284 crazy that's not so hard to ensure they see we're coming to the end of our segment here helping people get ahold of how can people get connected with you so they can look at building a second stream of income and maybe create a stable income almost like a pension for their lifestyle in retirement that is what it is it's like your you own your own pension we have members across the United States time in Canada and everybody does their classes online it's go to Total wealth academy.com and the first step would be to take the free sample class there's a big yellow button a total wealth academy.com that says free sample class<br> that's great so hey go to that website like that yellow button focus and hate nice thing about it's free so you can figure out if it's going to if it's for you or not but I see you don't want to thank you for joining us today during all these economic storms that we're seeing right now that there is that one place that can create some instability and stability of income which makes a big difference everyone's life so thank you so much thank you take care alright bye bye.<br>more expert advice for having a happier relationship with money still to come on the saving with Steve show<br> don't let your financial woes keep you up at night and prevent you from living a life of Financial and personal freedom hi I'm Steve Sexton post of the saving with Steve show where did he talk about the ins-and-outs of money those financial issues that could be costing me thousands of dollars causing stress keeping you up at night we're going to talk about money tax reduction saving more spending less your investment risk management retirement and everything is so she ate it with you having a healthier happy relationship with money soon as you've ever dreamed of living a life of Financial and personal freedom you owe it to yourself and your family to tune into the saving with Steve show join me Steve sex another saving with Steve show as we talked about everything under the sun when it comes to money to learn more about the show visit saving way<br> Steve. Us that saving was Steve. Us saving with Steve. Us will see you soon<br> welcome back to the show that is here to help you achieve your financial goals it's the saving with Steve show a your host Steve Sexton<br> and welcome back to the shaving with Steve show I want to truly thank you for tuning in appreciate you and your friends and family Associates know about the show. Susan Steve Davies told wealth Academy you can always go to that website they have a free class that you can check out to see if it's a bit for you with that I want to go ahead and start talking about the impact of inflation<br> do inflation in 2021 was 7 per cent in 2020 to 6.5 in 2023 we're halfway through the year it's 5% regardless of whether or not inflation search coming out it doesn't mean prices are going to come down what information finally comes down a new price already been established prices will continue to rise from that price point<br> what that means is the cost of living has gone up almost 20% in the last two-and-a-half years<br> this is why preservation of capital so important to keep in mind every 12 years or so you're going to need 50% more income just stay the same that means maintain your current purchasing power so when your experience is rapidly increasing cost of living along with these economically store resulting in Market losses which makes sense to look at ways to reduce your risk with your Investments that have downside protection Regional return enough liquidity so you can pivot when the market starts moving back forward and so you can weather the storms and keep up with inflation the last thing you want to do is be totally focused on growth in your portfolio and can't abide your principal when you're looking at inflation going up 20% Market rates going down and you still have<br> did you drop that withdrawal the Senior Lifestyle okay so the big question here is this is your complete return comprised of the growth stocks that your liquidating working is it comprised of interest in dividend as well as those growth rain in pieces just want to leave that we're agreed upon do it again I want to thank you for joining us here on saving whiskey and we're going to look forward to seeing you next week have a great week stay safe stay healthy see you then bye bye<br> thank you for joining us for the saving with Steve show hosted by Steve Sexton to learn more about the show and how to become a guest or sponsor visit saving with Steve. Us that saving with Steve. Us join us again next time as we continue to talk about everything under the sun that relates to you having a healthier, a relationship with money this has been the saving with Steve show hosted by Steve Sexton<br> everyone has their own unique views and need when it comes to financial success if you'd like to leave your financial woes behind and live a life of Financial Freedom you've come to the right place today saving with Steve show hosted by Steve Sexton the show will help you with the ins-and-outs of money we talked about financial issues that could be costing you thousands of dollars and keeping you up at night we talked about money tax reduction saving more spending less 401K risk management retirement and everything under the sun that relates to you having a healthy relationship with money now here is your host of saving with Steve Steve Sexton hello welcome to the same with Steve shall we talk about the ins-and-outs of money pretty much everything under the sun really see you having a happier healthy relationship with money I want to thank you for joining us today thank you for sharing this with your friends and family we have over 600,000 listeners here in the states and over another hundred and some-odd thousand<br> and oversee so we're really grateful for that today we have one heck of a show for some reason are at their viewers lines everybody's getting concerned about the secure act number two in the window in fact that the beginning of this year so I'll be going over those changes to today we've got a wonderful topic it's important topic and where to call at the silver tsunami curly 45 million people are over the age of 65 and they're supported by many programs like Social Security Medicare Medicaid Salon in the next seven years that number will double to 90 million people who creates the need for a new way of thinking New Technology Innovation Way for families to provide for and support their aging loved ones going through downsized diagnosis death. We have a specialist here Tony seiber he's here to help us understand the financial impact of all this Importance of Being well prepared out of walk reasonable life stages and do it well now this is a big topic for me and I'm glad to have Tony here because most of my parents are 80s<br> my wife's parents are 80 and as somebody who provides financial support and help her people I deal with this all the time and I think it's wonderful that we have an expert like Tony here to walk us through what did you give me a little background on Tony is currently the CEO of family media Technology Group as well as the founder of an impression of current projects that you probably want to go check out that podcast Tony is a contributing member of Forbes nonprofit advisory Council he's a nationally credited senior move manager and Senior real estate specialist he also has a license to for real estate in Arizona Tony's also a former law enforcement and when I checking you out of how Awards or Metals in the military so thank you for your service Tony the big thing is Skydeck experience with crisis management as well as team-building experience but when you're dealing with this transition of people who are getting older and one special you love you really walking into crisis management<br> I'm going to be really excited about this topic Tony welcome to the show and you didn't think you're doing enough and then you started a project walk me through what you're seeing what was going on and what brought you to where you are today about 2015 or so I had a parent project I had a grandparent who is hold up up in Sedona when I got up there I just saw the impact was in the first time but one of the first times I really felt compelled to kind of lean into the family needed the time that I had available to be able to help out and I saw there's a lot of confusion a lot of decisions were made to guilt and fear a lot of conversations that needed to be held that hadn't been held and now we were probably a little too late to have them being a guy that after the military I went into corporate restructuring and corporate strategy to help with emergencies our product that's coming out and didn't go well or whether to turn around on a particular brand and I just recognized that this was an industry that was right<br> first sound level of clarification and Clarity because I knew I wasn't alone I knew my parents dealt with it and do my grandparents do with it and why kids are going to deal with it it's so that was really how I started looking at the height of corporate literally just decided okay this is this is it this is my calling I'm going to understand how these transitions are done and how we can better do it as families and that was before even learning about the silver tsunami I just felt compelled wow you know and I can see that because when you talk about the fear I think one of the big problems is in my folks are the same way there 87 my dad had a hip replacement but we didn't really find out until like 2 weeks before and that's because something let it slip and they're in a position where they don't want to bother their kids and here we are you know what we're dealing with it and my dad's going to have a knee surgery or knee replacement now we're lucky he's in great shape and all that but it's now figuring out okay who's going to help them cuz my mom's 8070 she got with metal bed<br> family caregiver dying before the person there taking care of his astounding a statistics as high as 40% particularly when they're older when both are over the age of 75 if you been a family caretaker or stepped into that role in sin start at 3 at you you really feel that in it doesn't end it there isn't a break it is just it's the next day and the next day and the next day and so having some solutions to that it's very isolating feeling they didn't want to interrupt on you you want to respect her a ton of me that really Becomes of the top pieces up and hopefully we're trying to protect their autonomy we want them to make as many decisions as long as possible in a good mindset and healthy mindset but I think there's some reality there's a couple really big reality so just we have to emotionally process on the way I've seen many times where that autonomy that people want to have and they feel they're losing because they start forgetting things. Forgetting where it is all that kind of stuff is scary to People by see my parents are<br> that memory of its short-term memory but they really want to stay driving and sometimes it's scary to see him driving so you have to take change and then I also see kids that don't want to see their parents like that so they kind of avoid it it's almost like sticking their head in the sand they get involved or they're forced to be involved and to Leyton some kids don't want to be involved some of it scares the heck out of them so it's a really interesting Dynamic start talking about understanding the financial impact of all this with what you were talking about so the majority of the world looks at the utilize entitlement programs to protect the last lost in least right now is I just left his chair of the board of Catholic Charities here in our Phoenix area those are organizations that are very well spread out to see where they can fill in the gaps of government right in that nonprofit and that NGO a lot of public-private partnership work the reality is in the United States<br> a million people on this on the entitlement systems like Social Security Medicare Medicaid they're not all going to be sick but just that sheer amount of administrative burden a doubling in six and a half years from now near doubling that's going to leave a lot on the non-profit world in the visibility there I saw the non-profit world we can get organized by quick enough and where we are and how things are posture this is going to fall down to families if you don't understand where you're going to get involved you probably not going to like where you get involved and I you know either stay the majority of business today I think it work to do sit through this industry in the Aging industry you're dealing with Mom and Dad's the client in reality is because of business processes that make your business use online statements or or other things were doing an automation are separating us against that and leading to the adult children really being a primary driver and influencing their parents and how it's done and that's financially hitting them as a silver cenami washes ashore if you will it's going to impact us that we have an environment in which is sing<br> oh Healthcare incident and wipe out a lifetime of retirement savings you know I have a call saying that you're a cancer survivor and your family is as well my my wife is and we just you know that's a million bucks to fight cancer and one in eight women get breast cancer and other forms of it to sit out there that's a lot to prep through and in the back end of life Healthcare gets really you can get really really expensive there's actually there's a whole slew of conversation for another call or another time that we have a conversation about how you in a healthy way how you weigh that against that healthy lifestyle retirement your parents really want or pass retirement so that's I think we're supposed to hit you is that budget does play Roll guilt does play a role when you started that's there is a way out of that in as you get yourself out of guilt and fear and start making decisions with love and laughter we just find that we make better decisions they're better grounded they help us from a more healthy a spectacular problems at Mom and Dad are fake<br> I think we understand the reality of debt even the last the last decisions for most of us won't be made by us will be carried out by somebody else to be carried out by whomever that we choose a child or a fiduciary or someone else to do it whether be burying you and handling your roommate is it at one level or it backs itself all the way up to the last five or six or ten years of your life to pay my medical conditions the ability for you to have these conversations early and often is a family to know what they how they would want you to carry out not what job with Mom and Dad what what's important for them to do not that they're belaboring you with the challenge but understanding as they did as a work screw and they have to make those decisions in their stead here you have to make decisions in their stead how would they want you to do that or they want you to think about then you can start processing Financial impact okay so how do we do that at least I know what what they looks like so I can start mapping myself there so I want to take a quick little break in the second half<br> what are you talking to her about the silver tsunami and it's just something you really want to be part of an listen to so you can understand how the help the ones you really love so your relationship with money still to come on the saving with Steve show<br> don't let your financial woes keep you up at night and prevents you from living a life of Financial and personal freedom hi I'm Steve Sexton host of the saving with Steve show where did he talk about the in an ounce of money those financial issues that could be costing me thousands of dollars causing stress keeping you up at night we're going to talk about money tax reduction saving more spending your investment risk management retirement and everything is so sweet with you having a healthier happy relationship with money soon as you've ever dreamed of living a life of Financial and personal freedom you owe it to yourself and your family to tune in to the saving with Steve show join me Steve sex another saving with Steve show as we talked about everything under the sun when it comes to money to learn more about the show visit saving with Steve. Us as saving with Steve. Us saving with Steve. Us will see you soon<br> welcome back to the show that is here to help you achieve your financial goals it's the saving with Steve show Steve Sexton talk about the ins-and-outs of money pretty much everything under the sun releases having a healthier happier relationship with money I want to thank you for tuning in appreciate you sharing this with your friends and family, Steve. You was if you're enjoying the stories of helpful information inside something you see if I heard you describe your YouTube channel I want to send out some lunch or affiliate that you can't help radio BBS radio talk radio New York City to Las Vegas TV network work this out on Facebook is saving with Steve Jackson to get the behind-the-scenes about their guest gifts the holeshot I want to bring back Tony Sievers I'm thankful that you here Tony<br> this question what are the signs that people we should be looking at when it's time to start having this conversation with mom and dad or your loved ones three question they're going to vary a bit from family to family make sure you give yourself a little bit of leeway here if you're not picking this up right for some it's going to be from a financial perspective my bills aren't getting paid on time or there's a lot of confusion. You know is you visit the house holiday times are great. Thanksgiving right after Thanksgiving and Christmas you just see us in flocks of oh my gosh I didn't realize how bad this slide it happened piling up the bills name is not happening or confusion from there lots of sticky notes around showing that maybe there's a changing out there setting up their routine or crutches of of things that are set up being very particular about that it's just going to let you know they're they're starting to know that we starting to work know that might be one wanting it showing you should get yourself a Affiliated or associated with the professionals advise<br> your parents your parents should want that it really as soon as possible so whoever works on the taxes because that's a great opportunity to understand once you hear everything that's going on like where's the money coming in from how's it coming on are they doing that do they understand where things are at and how to manage that the medical side who's the doctors who are they treating do they have an understanding is it a referral base where they're running around town and see you in six or seven different people and one may have one story but another has another in you're never quite tell like you're getting the whole story of what it is like that could be could be not because it could just be because the way the system structure with a p p h or an HMO Medicare for for that instance she going to look to those things probably would be some of the first signs other than the normal memory things happened but we try to stick to clear of just pinning it down on the age because do you got 95 year olds I had 95 year olds that function is well is as I could<br> function on a on a stressful day and you've got people that are 65 they are really struggling so you can't quite pin it to age you just got to be aware of those surroundings check in when you are there I would say listen and do more listening when you get in there and talking in think about how do we say attraction / promotion in almost all things we do a project in order to evaluate your pension want to be sold anything on the outside so don't try to sell them something find where it is they're trying to go and be an enabler and find some small thing that you can enable for them chances are that will help give you exposed to other signs to help you understand the depth of the situation is a great place to start. And it's a good thing because you don't have one of those really hard ones at the moment you need to because you got documentation you have HIPAA you got maybe power of attorneys that can be so<br> how much more complex down the road then it is in the front end but just simply an introduction in these days most doctors offices can set up a video teleconference and are willing to do that in five years ago that was an it was pulling it was hard today then that's a great thing at a post covid everybody's like we can do that when I can get their daughter in there so that other aspect I'd throw in his money matters in a lot of this and not just for us and our wallets but knowing the pair model if it's Medicare if it's a Medicaid system in your respective State here in Arizona. Sits at all tax it's organ Health Plan it's different things in different states but I know the difference between them know if it's a long-term care insurance that's a model of whomever is going to be covering the bill there's a language to learn and I think most of us self included thought that one day I would wake up in like the Medicare fairy would sprinkle in my head. This is what<br> is the news of our words ending in 62 in retirement those benchmarks in our self and we're like oh my gosh the water my mom and dad are having such a hard time with this this really stinks the communication model that secret to that I would say is understanding activities of daily living adl's. Adl's conversation are the common ways that an outside power model really is structured to understand what level of assistance is a human beings going to need and they map what they can handle what can be paid for what's their it's it's a secret language so great starting point and we got tutorials and videos and 90 s you know that would help out but there's there's a lot that's out there you're looking for that once you get an understanding of that it's a great starting place I know we're in the middle of I usually do this then I'm going to ask you to do it again working people go to get the videos where you can go to start getting a line<br> Fairy Tail lookie-loo if you're just trying to get yourself acclimated and don't know what you don't know it's a great place to start we've been collecting these clickbait articles from around the internet now for years and we turned them into 92nd Ave 3 minute videos and then give them back of the authors for free say this is the way our audience really wants to see this by the way that audience typically is so don't feel weird or alone if you are a 5265 year old working mom generally that is balancing taking care of an adult kid or you know probably some financial assistance may be still in high school and you got Mom and Dad coming up with work and home there are millions of you you're not isolated it is just simply by starting there so it works that way you know I wanted to move on from helping just the family's it could drop you know the go hire someone by the $15,000 to kind of handle everything we wanted a solution in wearing a drive to a solution to get it down to within $4 a month who wanted under $200<br> average family could have access to that information we ended up building an AI platform that have the ability to function like a Netflix from that video bring in that content in to play along with maybe the way the knot with a bomber or other types of user-friendly systems that help you understand what order to do the tasks and then connects you out with vendors so that Shameless plug over on the Perry projects there is there's different levels at which you might be ready for if you're truly ready to engage the system works great from that outside of that are projects is one place where we go there are a lot of dishes there's a lot of content that's out there or what we try to do is Orion people very quickly succinctly with that 40 minutes today you have on the project but I think that's wonderful because I've been looking at those and I got to go do something because my cancer and is going back to the building codes and all that kind of stuff that I actually found almost $30,000 it should have been on my medical bills when I was gone<br> understanding with mine was a stomach colon cancer surgery when somebody's dealing with a model we're taking Medicare Medi-Cal or long-term care what is the important thing to do is it important to read the actual contract of the policy to see what is actually covered so you know what's going to be covered what would what would be your best advice with that I'm going to give you the straight up advice for this rather this is something that we might do the most maybe four times in our life okay step into this to think that we're going to be awesome at it or expect ourselves to be absolutely awesome at this doesn't quite make sense this is 18 this is one where you want somebody who can really help you for that honestly and you you got down you did something you do been to the ICD-10 codes to understand you know what came in the wind where they and that by the way changes constantly right and you fight<br> and when you pull on that string of a problem it may be because somebody fat fingered an entry it might be because of just the way they typically Bill something or how they were trying to get pre-authorization to help you out so they're trying to rush you but there's a lot of not always nefarious just systematic Inn efficiencies in that that's a danger to Silver tsunami by the way when government has to work through all of that so what I would say is there's an awesome group out there 73 industries of business that we work with 73 people to come at you but one of the most important for what you're talkin about is called a Healthcare Advocate and these are these are nurses some are retired Physicians are others but generally usually someone who has worked down at that Hands-On level they understand ICD-10 kind of code side they were processing their and they they can step in and help her solve their third party in case mom's not comfortable being in her Women's Health appointment you being in that woman's health appointment right where they're dealing<br> with your increase UTIs because she's not drinking water as much as she used to cuz she does want to go pee so much so she's sitting in her chair and those these are real things but it's difficult for you and I to jump into actual app because I've heard this before I will be there except for my project but the reality is there are so many efficiencies if you have the right person at the right time doing the right thing and that's not it's not that it's not rocket science there is a lot to it that's where we had to leverage and help machine learning to really get us to get us there but it was straight down to the bottom of your point with fewer words that I could use a hug and I would just do we use Healthcare Advocate to help us work through the night because that's how can I see these thousands of these 10 things that I found out I'm going through my process is I talked to a Healthcare Advocate who basically says you know I'd medical services are<br> any business so someone's good ones are bad ones if you have a good Healthcare Advocate they can help you directly inject cords good services and Lead less frustrating cuz you have better communication and all that kind of good stuff so I agree that there would like you to provide your information before we have to conclude share so that everybody can get in touch with you and then after this is all done I'd like to have a chat with maybe you got to Stephanie and Jada you and maybe arrange for you to come back to this is a big topic into the same with her audience on really that hunting any insight Financial side but are you can find us word word parent projects.com at her projects on any social media platform you could possibly think about a project floral that's what we got coming at us and that's it is truly that easy if my phone if you're still really loving it that way at 6675<br> I anywhere in the country. We've been in in our early Market was here out of out of Arizona and we are now pushing out across the country and starting in June so if we can help if there's something you're looking for that's not even a just and penis and ask we have a whole group of kant's years and and people that just love in the background to go find answers to that and connect you not just a resources but other families that are going through that at this point I might have gone through a recently current projects and Jeffrey want to go to that website it doesn't matter how do parents are you want to go to the more you can learn the better<br> more expert advice for having a happier relationship with money still to come on the saving with Steve show<br> don't let your financial woes keep you up at night and prevent you from living a life of Financial and personal freedom hi I'm Steve Sexton post of the saving with Steve show where to be talking about the ins-and-outs of money does Financial issues it could be costing me thousands of dollars causing stress keeping you up at night we're going to talk about money tax reduction saving more spending your investment risk management retirement and everything is so she ate it with you having a healthier happy relationship with money soon as you've ever dreamed of living a life of Financial and personal freedom you owe it to yourself and your family to tune in to the saving with Steve show join me Steve Sexton on a saving with Steve show as we talked about everything under the sun when it comes to money to learn more about the show visit saving with Steve. Us that's saving with Steve. Us saving with Steve. Us will see you soon<br> welcome back to the show that is here to help you achieve your financial goals it's the saving with Steve show host Steve Sexton<br> hey welcome back to the shaving with Steve shovel and talk about the ends and out the money right now I'm going to be talking about the ins-and-outs of money the Civic leads we had our number to bring in thousands of people are really concerned about the secure act 2.0 so what are the big things here is this if you didn't take your requirement distribution used to have a 30% penalty now it's dropped down to 25% the big thing to know here it's in the distribution phase of your life so that means you didn't get the required minimum distribution for say 2023 and 2024 you can go back a minute on the tax return but you can drop down even further to 10 per cent next if you have an implant Ross okay that means you have a Roth 401k or 403b at 4:50<br> that type of thing and you're a baby. You still have to take that required minimum distribution for tax year 2023 is being paid out to achieve the required minimum distribution next year next year to the next year<br> if you're inheriting an IRA or Roth IRA and that your non-spouse beneficiary you have to take out everything within five years<br> due to the fact you now have the ability to stretch the IRA for 10 years OK Google Now if you had a fire Ray you have to liquidate it within 10 years on top of that you have to take a required minimum distribution to journeypure that you're waiting until you liquidated if you do you're going to get hit with that penalty some people 16 how do I mirror not take my requirement Industries was only one way you can do for that is called explore by longevity annuity contract specially known as chewy cute elf AC and it would have does the name of 25% of your IRA after 200,000 and you're taking that from your 85 that's only a little bit but you won't have to take<br> contributions if your 60 I'll give you $10,000 a year for 3 or 61 62 63 commentary 60 61 62 it's $30,000 you can put in there right now is less than $145,000 a year and you know what you can do you can put it you can put it in your IRA but if it's over $45,000 a year you're going to have to pay taxes and put into a Roth IRA<br> so it's important to understand the stakes were talking about something very important helping everybody who's getting older and that transition into life as they need help and health House of Court Finance unit unpacking that a little bit more with Tony later on and a few other episodes again they stayed stayed healthy to look forward to seeing you next time that's all for me right here on saving machine thank you for joining us for the saving with Steve show hosted by Steve Sexton to learn more about the show and how to become a guest or sponsor visit saving with Steve. Us that's saving with Steve. Us join us again next time as we continue to talk about everything under the sun that relates to you having a healthier happier relationship with money this has been<br> Steve show hosted by Steve Sexton<br>