It’s tax time again! If you dread filing your taxes every year, then you won’t want to miss this week’s show. Woody has tips on how to build a tax-efficient retirement plan, including a look at the two tax free investments you can make now. Plus, what is a fixed indexed annuity? We share details and talk about why now might be the best time ever to get more defensive with your investments

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4.14.23: Audio automatically transcribed by Sonix

4.14.23: this mp3 audio file was automatically transcribed by Sonix with the best speech-to-text algorithms. This transcript may contain errors.

Producer:
Any examples used are for illustrative purposes only and do not take into account your particular investment objectives, financial situation or needs and may not be suitable for all investors. It is not intended to predict the performance of any specific investment and is not a solicitation or recommendation of any investment strategy.

Producer:
Welcome to the Buckeye Advisor with your host, Woody Bowling. Woody is a fiduciary licensed financial advisor and Medicare expert who always places your needs first. Woody works hard each day to educate Americans like you on how to reach the financial freedom they've worked so hard for. And he can help you, too. So now let's start the show. Here's Woody Bowling.

Woody Bowling:
Good morning, everyone, and welcome to another fun filled educational episode of our radio show podcast, and hopefully yours too. This is Woody Bowling. I am also known around some of these parts as the Buckeye Advisor and welcome to our show. We couldn't be here without our listeners. We hope your Saturday, April 15th or perhaps Sunday, April 16th, 2023 are as beautiful as it has been all week here in the Dayton area. So excited to see really, truly signs of spring. And speaking of a ray of sunshine, I think that's a great segue to bring in our favorite co-host and producer, Mr. Matt McClure, coming to us from his plush location in Atlanta. Welcome, Matt. How are you doing today, sir?

Producer:
Oh, you know, just spreading my sunshine around to all who come within my my sphere of influence. That's that's what I do.

Woody Bowling:
It's a tough job being Matt McClure, but somebody's got to do it. And we're glad that you do it and we you do it well. And we're glad to have you aboard again for another episode. It's been a a busy week in the stock market. Things have been trending positive, sometimes negative. Sometimes we got a little bit of good information on inflation. Wednesday, it only rose. The CPI rose about 5% year over year. Um, I hate to say that that's good news, Matt, because 5% is still a lot and our listeners are still dealing with inflation, as are we. It's not going away quickly. We don't think it's going to go away completely. But the Federal Reserve is crossing their fingers and their toes, right? We don't see their feet, but I'm sure they're crossing all of those, hoping that the inflation continues to slow down. 5% is better than 9% that we experienced last summer. So that is some welcome news for our listeners. And as a listener of our program, whether you're on our podcast platforms, wherever those are available. Apple Music, Stitcher, oh my gosh, Amazon, all those great places. You can listen to a podcast, iHeart Radio. We're glad that you're listening. Please like and subscribe to our channel. Also, don't forget about our ever growing in popularity YouTube, where we're giving our watchers and listeners short clips of our program so they can actually catch us live and in person on those clips and see us interacting, which is fun. Go to YouTube, look up the Buckeye advisor that's with an O R and then like our videos and view them, take the education and just, you know, we want everyone that's listening to start building upon and planning for a great retirement or if you're already a couple, three years, year or four years into your retirement, we think we can help people do better. And that's why we're doing this show each week, right?

Producer:
Yeah, absolutely. So, you know, I mean, it's all about education. It's all about helping you, the listener, really improve your situation and really arming you with knowledge to help you do that and offering up some help in the process because you can't really go it alone. And you know, in times like these, you know, we've got these recent bank failures that we've been dealing with and talking about things like that are, you know, volatility in the stock market, all of these kind of crazy things that you're having to navigate here. And we want to help you along in that process. And as a matter of fact, speaking of the the banks and the banks failing, you actually get a free report that we can send you now about the bank crisis here, what you need to know, how you can protect your hard earned money from that volatility that's infecting the banking sector. The free report can be yours today. I feel like I'm doing an infomercial now, but we we'll send you that free report. Absolutely. When you get in touch with Woody Bowling, you can go to TheBuckeyeAdvisor.com that's advisor with an or TheBuckeyeAdvisor.com or call (937) 974-6201. And another thing Woody we gotta we gotta remind people it's everybody's favorite time of the year it is tax season and we're at the tail end of tax season now.

Woody Bowling:
We are I mean tax season is on the respirator. It's on life support. It's only a couple of days left. And, you know, personally, I always hate that day, that deadline. But, you know, this year our listeners have until the 18th, which is a Tuesday coming up here in a day or 2 or 3. And you know, it's no fun. Taxes is a five letter word, although I wish it was a four letter word. That's the way I think myself and our listeners view it. And they should. But Uncle Sam is ever present. In his hand being opened, asking for our money. We can't avoid it, but we can help through education and through analysis and through gaining information about folks that are listening to us. You know, some of you right now are wondering, is a Roth IRA conversion? Does it make sense for me? Some of you are wondering, with all this banking stuff, should I keep large sums of money at various banks or at one bank? You know, now's a great time to reach out. And we do this every week. I talk to people. Some people say, Man, I'm glad I finally reached out to you.

Woody Bowling:
It's really easy. You know, It's a really easy conversation. And I'm talking to people each week that have those concerns about banks, about the market. And, you know, I do both sides as a hybrid fiduciary advisor. You know, I do the insurance side of the safe money, you know, vehicles that I help our listeners with and other clients. I also do the investment management side through my fiduciary license series 65. And I've passed multiple licenses in the securities industry since 2008. So I've been doing this for a long time. I've seen a lot of different scenarios and I can promise you each scenario is different. And that's what makes it fun. That's what makes it a challenge. And everybody loves a challenge, and I love helping people create these plans and implement strategies that are going to work for them. So look, listener, I know your strategy you may not be sure of sometimes, but we're going to work together to come up with something I think that will fit you and your needs because everyone is unique.

Producer:
Yeah, there's that uncertainty that especially as I say during times like these can sort of creep in and rear its ugly head, if you will. But there is someone on your side who can help you and that guy is the Buckeye advisor, Mr. Woody Bowling. You can call him once again, that number is (937) 974-6201. And a lot more to come here, of course, as we continue on here in this hour, we will have really a great discussion, I think, about why now could be the best time ever to invest in a particular kind of retirement vehicle, and that is a fixed indexed annuity. We're going to explain that coming up here in just a few minutes. You know, really one of those reasons could be that bonds are experiencing one of the worst times, if not the worst time in history. And we'll talk to you about that and why there are better options out there. We've also got some tax strategies, speaking of tax time that you can utilize in your retirement. We're going to talk about, of course, what it's like to work with Woody Bowling. You got a little taste of it there. But we'll have more on that as we continue along as well. And of course, this Week in History at the end of the show right now, though, let's let's get started with the quote of the week.

Producer:
And now wholesome financial wisdom. It's time for the quote of the week.

Producer:
And this week's words of wisdom come from unknown. One of my one of my favorite personalities in all of our history. But this anonymous quote was a good one for this week, because it is this isn't it appropriate that tax month begins with April Fool's Day and ends with cries of May Day?

Woody Bowling:
Well, first of all, this unknown character, I mean, the wisdom, the power that this guy or gal brings to the table. Once in a while, we are able to find these unknown quotes and use them and, you know, very appropriate tax day. Nobody likes April Fools Day, in my mind. Always kind of unofficially rings in spring. I know the first day of spring is usually around March 20th or 21st. Usually it's not springy that day, but you know, when April 1st hits. Aside from the joking on April Fool's Day, I really start in my mind mentally preparing for spring and start expecting better weather, which we've had a beautiful week this week here in southwestern Ohio. So the cries of May Day right around the corner. I'm excited. I know our listeners are excited to get out, do those projects in the yard, on the patio, start cleaning, mowing, making those beautiful lines in your yard. So and a lot of them are probably in the car right now listening or maybe they're on 94.5 FM. The Answer listening. And I'm grateful to be on that station. Have a great lineup of speakers during the week Matt And you know it's just a good time to be doing what we do.

Producer:
Yeah, it really, really is. And it's a great time, as you say, Woody, right now, to be doing what we do here because there are a lot of people out and about getting ready to do those projects. And a lot of people I know listening to the radio on this this weekend. May be headed to the Home Depot or Lowe's and that kind of thing, going to that gardening department. I know I have been this time of year, not quite yet this year, but I've been this time of year and it's always insane in the gardening and outdoor kind of department there. It's that time of renewal, you know, And you need to also think about that when it comes to your finances and renewing your commitment to planning for your future and making sure that you have the right plan in place, making sure that that the right plants are planted in your financial garden. To continue the metaphor there.

Woody Bowling:
I like that. I really do. I mean, you couldn't have said it better. It's an exciting time for new plants and things to come alive. And, you know, my wife and I were sitting down on the patio this evening or one evening this past week, and and it sounded like we were in a bird sanctuary. And we've got some trees in our backyard. We live in a neighborhood. And it was a very inviting and fun evening to sit outside and just listen and absorb the warmth until the sun went down. And then it got chilly, of course. But, you know, recession fears, you know, there's still talk about a recession coming for a lot of our listeners. The last 12 to 15 months have really been like a recession. We've experienced very, very high price increases with inflation. There are still lots of people that are losing jobs. I talk to people each month and each week of all different stories and some have lost their jobs, some are self-employed, and they're really trying to figure out, you know, is it the right time to step away from the from the business? Do I have the proper lineup in place to keep this business alive, whether it's partners, whether it's family? And I hear those different scenarios. So, you know, I believe that. Regardless of whether we're officially in a recession this year or not, I think everybody is still going to be cautious. That's just the way it is. I think people have gotten tighter with their spending and that's showing up, especially in certain areas. We've have experienced a few reductions in food prices, which is welcome news. But look, we believe I believe the Buck advisor believes that the fixed indexed annuity can be one prong in a 2 or 3 prong strategy to help you pre-retirement and enduring retirement.

Woody Bowling:
And because look, if you can do a fixed indexed annuity and you take 30 or 40% or 50% of your retirement savings and you say, look, I'm not going to lose principle. I'm not going to lose on this portion of my retirement income. And you put a floor effectively, you're putting a floor, you're saying, I'm not going to go below this number, but I can also grow the money when the market comes back around, which slowly but surely we think that's going to happen this year. As the Fed begins to unwind their rate increases, you're going to experience some market like gains in that fixed indexed annuity and income for life that you cannot outlive. And that is becoming more and more of a topic these days. How long are they going to live? So we don't want to lose money on part of our savings. We want to look at triggering some income, perhaps because the name of the game is income and retirement, not necessarily a lump sum of certain amount of dollars because it's all about how that money is going to be spent in retirement and the sequence of returns that you get on your money. And that's what it's all about. And we preach that each week. It's about how much income can you generate from those retirement savings safely, protect a big portion of it or a chunk of it. And then I can help people tactically manage the rest of it where it is monitored often quarterly, worst case. And we're going to make sure that we keep on track to the plan.

Producer:
And you know, you mentioned people's concerns for safety these days. It's a big, big concern, especially when you have things like I mentioned earlier with with the banking crisis situation going on, where we had a couple of big bank failures, the biggest since 2008, just a few weeks back. And, you know, you think, okay, well, I'm going to, you know, deposit up to a certain amount in the bank or I'm going to have a, you know, some some money in a savings account in the bank or and I'm going to let that, quote unquote, grow, you know, because people say, well, savings account, it'll earn some sort of interest, but it's usually not anywhere near what you can get from another type of investment or another type of well, not even really an investment, another type of place to put that money, another type of account. But they say, okay, I'm going to put this particular amount of money in that bank and it's going to be safe. The FDIC has me covered and that's great. And yeah, up to $250,000. Absolutely. That is that's true. But then when there's a run on the banks, like you saw with Silicon Valley Bank, a lot of these big, you know, corporations and tech companies and stuff had money in Silicon Valley Bank, You know, that was a situation where you had people then going to the bank during that run on the bank and being like, I want my money. And, you know, you just sort of look over the counter and get a shrug from the teller and they're like, Well, sorry, I can't help you because we only have 10% cash reserve here. And we ran out after the first, you know, big set of people came in wanting their deposits back.

Woody Bowling:
Yeah, you're exactly right. I mean, look, I'm going to ask you as a listener, if a bank only has to keep 10% of their money and contact us this week, if you'd like that report, we will email or I will deliver that report to you personally. It's a very well done report on the banking crisis. We want you to be prepared and not scared. That's what one of the themes was from our show a few shows ago. An insurance company has to keep 100% reserves on your money that goes to them for that fixed indexed annuity that they're going to do. A bank keeps 10% cash on hand. Which do you think is safer? And do you really believe that the FDIC, which is a private corporation. Even though they say they can cover people up to 250 grand. What if it takes you six months or 12 months or 24 months to get that money all delivered back into your possession? That can be very upsetting to a lot of people. And I want people to realize that these things can happen. They can say on the surface, we're going to cover you, but the small print. Does not tell you that they're going to have to give it to you within 24 hours or even anything close to that. So I just think people should be aware of those things. We're not trying to do scare tactics by any means. We just want you to be informed about various things and the way the system works. That report is a great report and we'd be happy to email it to you, get it to you. Just reach out to us at TheBuckeyeAdvisor.com. The advisor is with an or or call me (937) 974-6201. I'm interested in getting that information to you helping you out CDs are okay but typically you're under utilizing your money by sticking with CDs. That's the bottom line.

Producer:
Yeah, it's very true. When you look at and you can go and Google those CD rates and see what they're running about right now. And they have gone up, of course, because of interest rate increases. And it's funny that that you mention those CDs and consequently interest rates, Woody, because interest rates going up, you know, a lot of people might have that the old 6040 portfolio where it's 60% stocks, 40% bonds and that 40% usually is a hedge against any losses in that 60%. So the bonds people you know there's usually a kind of an inverse relationship has not been the case this past year or so because as interest rates go up, the value of the bonds that you're currently holding goes down.

Woody Bowling:
Correct. You hit the you hit the nail on the head. And, you know, the big brokers at the wirehouse, the wirehouse brokerage services, they're never going to tell clients that they should consider doing 30, 40, 50% of their portfolio into something that's principal protected. I know this for a fact. When people call and tell their broker, Hey, I want to move some of my my money into safety, their response is no, don't do that. Hang in there. It's going to come back. Well, bonds are not poised for a comeback in the near future. They were demolished in 2022. Interest rates are still rising. They're not doing well in 2023. And plus, our listeners are paying you. If you have bond mutual funds or your bonds, you're paying management fees on those as well. So not only is your money at risk due to the interest rate environment still increasing, you're paying management fees on a lot of that to your advisor on top of all that. So it's a double whammy and that's why we offer alternative views on how your portfolio should be constructed.

Producer:
Yeah, very true. And it's always great to have that information that you might not get from somewhere else like those big the big firms like that. Tax benefits. Also with fixed indexed annuities we're in as we say, the very tail end of tax season. So that's something that people are, you know, very interested in this time of year, I'm sure.

Woody Bowling:
Yeah. I mean, the bottom line, the nice thing about an annuity is if your money is qualified, meaning it's not in an IRA or a Roth IRA today, if that money is non qualified and you just want to move money from savings from your mattress, from your coffee, can any of those things which people have those things, let's not kid ourselves. Right? So the annuity, you will get interest credited to it once a year or every two years, depending on the crediting strategy, but also that interest is just added on to your contract. It's not reportable as taxable income until down the line when you start taking or if you start taking and you don't even have to with these annuities today, if it's already non qualified money, you can let it grow over the next several years and it could be passed directly to who your beneficiary is. And you don't have to pay any income taxes on it as you're going along. So that's a nice feature and it's often probably not talked about enough because there's people sitting on billions and billions of dollars today throughout this country that are just sitting in savings and checking because they're almost paralyzed with fear and they don't really know what to do. And that's why we like doing this show. You know, we want to educate you, give you some options. And look, we don't think a fixed indexed annuity is right for 100% of your money, far from it. But for most people, 30 to 50% of their retirement portfolio that would normally make up bonds or some other things within that portfolio, we think it might be a good idea to look at and see if it works for you.

Producer:
Yeah, that's absolutely right. Just. Take a moment and explore that because, you know, it might not be right for you, but it could. And if it is, then it could be a very good thing for you to include as part of your retirement plan. Well, these next two points that we'll cover here with you before we go to the break, at the end of our first half here, kind of go hand in hand because we have a product like a fixed indexed annuity which provides protection from longevity risk. And that means that you're going to get income for the rest of your life no matter how long you live. Right? And so but then you also have this fear, on the other hand, that retirees have of running out of money before they before they do pass. So it's like this is the potential solution to that fear.

Woody Bowling:
It is. I mean, it's an all inclusive solution. And. It's a big issue with people today, especially a lot of our listeners know you have a mother or father, aunts, uncles that have lived to be in their late 80s or early mid 90s, and my wife, my wife's sister in law just lost her mom last week. She was 98 years old. My wife's grandmother died four years ago or five years ago. She was 98. I had a gentleman I'm working with now. You know, he's 61, but his dad just turned 85 and his uncle was 94, 95. And he has a very big concern on outliving his money. His broker at the wirehouse firm says you should never consider an annuity, but when you can guarantee yourself income for life and insulate yourself and insulate your savings from dramatic market downturns in the first 2 or 3 years of your retirement, when you want to take income, it's a very, very big deal. And I applaud people for taking heed to this and realizing it is an issue because thanks to medical advances, people are living longer and that's what we want to help them do. We want to help them live longer with access to their money. That's where we come in. And of course, ideal Medicare plans to help people really cut their medical costs down as well. Medicare, I've been doing for 14 years as well.

Producer:
That's literally a one stop shop. And you can get started with your stop at the at the Woody Bowling shop by going online to the Buckeye advisors.com that is the Buckeye advisor with an or.com or call Woody at (937) 974-6201. Well Woody just about out of time here for our first half of the show and we're going to continue our discussion about fixed indexed annuities and more your bond portfolio as well right after this break. But of course, everybody's favorite part of the show is going to kick us off in the second half. And I mean, the dad joke of the week. It's just ahead. Stick around.

Producer:
Miss part of today's show. The Buckeye advisor is available wherever you listen to podcasts and online at TheBuckeyeAdvisor.com.

Producer:
You may think you're stuck with your utility providers, but you could be wrong. I'm Matt McClure with the Retirement.Radio Network. Powered by a marine life, utility bills for things like electricity and natural gas have been climbing fast over the last year or so due largely to Russia's war in Ukraine. If that gives you sticker shock once a month, there could be hope for you and your wallet. Depending on your state regulations, you may be able to shop around between different third party energy providers instead of using the default utility provider in your area. When it comes to electricity, the federal government says 15 states and the District of Columbia allow you to shop around. More than half of all states allow you to choose between natural gas providers. That's according to the American Coalition of Competitive Energy Suppliers.

Kenneth Gillingham:
One can move to any of these other companies. And actually, right now, it's a good deal.

Producer:
Kenneth Gillingham is an energy expert and professor at Yale University. He recently told Wfsb-tv that changing providers could save you a pretty penny. But there's a catch for.

Kenneth Gillingham:
Most people right now, it's a good move. But if you're the type of person who makes a decision and then doesn't ever check your bill anymore, it might not be the best move.

Producer:
So you've got to pay attention to your bill. Each month, suppliers can raise rates after any initial contract period runs out. A good resource to find third party providers for your address is the website Choose Energy Comm. So could you save by shopping around for a new utility provider? That's a key question to consider and it's one of the 23 retirement cost cutters for 2023 with the Retirement.Radio Network powered by AmeriLife. I'm Matt McClure.

Producer:
To obtain your free copy of 23 Retirement cost Cutters for 2023, reach out to Woody today at (973) 974-6201 or go online to TheBuckeyeAdvisor.com.

Producer:
Welcome back this is the Buckeye advisor I'm Matt McClure here alongside Woody Bowling who is the Buckeye advisor himself. You can go to the website the Buckeye advisor that's advisor with an or.com or give Woody a call at (937) 974-6201 for a free consultation today.

Producer:
Some people roll the dice, some people roll their eyes. It's the dad joke of the week.

Producer:
Okay Woody always tee this up by saying that it's everybody's favorite part of the show. I know it is mine because we got. We just got to laugh. We got to laugh. We need a laugh these days. And I always look forward to this. So give us the joke.

Woody Bowling:
Well, I think the Reader's Digest used to call this section Laughter is the best medicine. I remember seeing those when I was younger as a kid and teenager. I'm not going to make people wait today. We need a laugh. I'm going to change it up. A couple, three weeks ago, we went with a knock knock joke we normally do, Dad jokes. This week I'm going to change it up with a blonde joke and listeners have no fear. My wife is a blonde and this is wife approved. So Matt, why did the blonde get fired from the M&M factory?

Producer:
I don't know. Why did the blonde get fired from the M&M factory?

Woody Bowling:
It's pretty simple. She kept throwing away all the W's.

Producer:
I should have known it had been something like that.

Woody Bowling:
There you have it. The guaranteed Dad joke of the week. I would offer a money back guarantee, but since we didn't get any money from you to listen to it, enjoy it, tell it, share it today, make someone else smile and roll their eyes as you just did.

Producer:
Exactly at the same time, simultaneous laughing and rolling of the eyes. I love it. Well, that is the dad joke of the week. And we're going to continue with our discussion here of fixed and indexed annuities. One more point that we needed to make about these before we move on. You know, we talked about a lot of different aspects here, Woody. We sort of wrapped up by talking about, you know, lifetime income no matter how long you live and the safety and security that that can provide for a lot of folks. We talked about tax benefits, about fears of recession and how fixed indexed annuities can can protect against that as well. But there's one more thing that we need to mention, and that is receiving a bonus on your principal. And some I just I just felt it, some of the listeners ears perking up there and saying, wait, what? I can get a bonus. What? What is this? So tell them about that and what it means for them.

Woody Bowling:
Well, the good news about the bonus is, you know, I work as an independent fiduciary advisor. As you know, I work with several insurance companies. They're all very highly rated by S&P. Their rankings are very high. So look, all these things I take into consideration before I even decide to work or do business with an insurance company for you as a listener, the good news is there is a lot of competition for consumer business, just like banks are competing for those checking account by offering little things here and there, by offering cash incentives. Credit card. Competition. If you get this credit card, you charge this much. We're going to give you a $1 bonus after 90 days. The annuity space is the same way. And these insurance companies, part of some of their programs, not all, but part of some of them is to offer a bonus. And that bonus, if you put in $200,000, for example, one company may give you a 10% bonus that's actually applicable to your accumulation value, which is also the death benefit of your annuity. So that means you would you would get that vested normally over a three, five, seven, ten year period depending on the period of the annuity surrender charges. So surrender charges is another issue. But, you know, depending on what you're doing with the money, this bonus can help people get out of other annuities. And I've seen this happen that we look at another annuity that's been around for quite a while and maybe they've got a little bit of a surrender charge left on it.

Woody Bowling:
These bonuses sometimes can well positioned people to move from the old annuity that didn't have a very good income strategy or a very good growth strategy, and we're able to move it into a more modern fixed indexed annuity that's got better growth strategies or better income. So the bonus can be used. We've got companies that offer also offer bonuses up to 20% of the deposit and they'll be adding that to the income side of the annuity. And they'll also guarantee in some cases an 8% growth rate or roll up on that income side of the annuity. So if you want to trigger income in year five or year seven or year ten, you know, you're experiencing tremendous amounts of credited interest to that income side. And then they're going to look at your age when you say, yes, you want to turn on the income and that's going to result in a higher monthly payout. That's what our listeners need to know is it's not just this or this. You're getting principal protection, you're getting bonuses that can help your death benefit. You're getting bonuses that can help ultimately your income distribution strategy so that we can find you the most income available for your situation. And it's not one size fits all. It's not always the same company. There are several companies that I use and we want to find the best one based on the listener situation and what they're looking for. And that's where, you know, that's where all that competition really comes in handy.

Producer:
It really does. And, you know, I mean, folks might be asking as your as you're driving around or listening to us on the podcast perhaps, what why do we spend so much time talking about a fixed indexed annuity? Well, you know, it has all of these potential benefits for you, the things that we just ran down here and that Woody did such a great job explaining. But also people, a lot of folks looking into a fixed indexed annuity as a potential replacement for the bond portion of their portfolio because bonds have had just an awful year or two here. Talk about that, Woody, and talk about what it could potentially mean for a listener to to do that if they have bonds in their portfolio that have really been struggling and that's also been losing money in addition to all of the volatility that we've seen on the market side as far as their their stocks and those investments, those types of investments. But also talk about how you can sort of look and analyze a person's current bond holdings to determine, you know, what might be a better situation for them.

Woody Bowling:
Yeah, bonds are, you know, since the beginning of last year, January 22nd, bonds have been getting hit from all sides. And people that are holding those bonds are getting hit from all sides. And, you know, customarily people think of bonds as a safe haven. But look, bonds are not doing well. They're not going to do well. Interest rates are still going up. You know, you're paying fees potentially on those bonds and on those bond mutual funds. Not to mention you're losing money because the value has gone down 15, 18, 20%. That's a double whammy. And it's always been considered to be kind of a safe leg of your stool. And, you know, one term that we came up with is really one of your safe legs of your stool is really more like a melting ice cube if you have it in bonds. And I think we both know that a melting ice cube on the counter or on the floor is going to result in potentially an ugly situation. So we don't think that they make sense. And we also don't want our listeners to think that, look, the only thing we're talking about that we do is fixed indexed annuities. I mean, I'm an investment advisor representative. The advisory firm I work with is Brookstone Capital Management. They have some phenomenally smart people that are very, very good at doing money management.

Woody Bowling:
We have some excellent strategies to manage the portion of your savings that is going to be in market like strategies and we're going to tactically manage it. We've got some outstanding things that we can talk about. We've got some things that can buffer. Market losses anywhere from 9 to 15% of the market going down and even more in some cases. We've got some very unique things we do over there. So I like to do both. I can have it all aggregated so you know what you're doing and what you're getting. And it all makes a lot of sense because people need to realize there's more than one way to do it. And the traditional way is just writing it out. 60 over 40 stocks and bonds or a target fund target mutual fund in a 401. K, people don't realize once you're 59.5, they can do an in-service withdrawal from their 401. K, We can invest it. Typically, most employers will let people do that, their full amount vesting and they can continue participating in that 401. K plan until they're ready to step away from employment. But in the meanwhile, they've set up their own IRA and we're going to manage that and we're going to accomplish the goals that you set out that we agree upon that are important to you.

Producer:
Yeah, you know, just hope, hoping and praying and wishing as far as an investment strategy or a retirement planning strategy, not not necessarily the best thing to do. So seek out some some help and some advice, folks. And you can do that from the Buckeye advisor himself, Mr. Woody Bowling at TheBuckeyeAdvisor.com that's advisor with an or by the way TheBuckeyeAdvisor.com or call Woody at (937) 974-6201. So Woody you know we've got as we mentioned at the top of the show tax day just around the corner here it is actually on Tuesday of this year. People always think April 15th. We've actually had a few years. I feel like in the past several where it's gotten pushed back, you know, to to like, say, around the 18th. And of course, during the pandemic, there were some some weird some weirdness with the deadlines and stuff and understandably so. But this year it is April 18th. And so a lot of people are always looking for tax breaks. I know I'm always looking for a tax break as well. And we want you to, of course, get those and get as much as you're entitled to. But talk to us about tax free ways that people can put away money. And, you know, people just I've heard their ears and felt felt those ears perking up again because people's tax free. Is that is that a thing? Yeah, there are actually some tax free investments out there. Yeah.

Woody Bowling:
Tax free is a good that's a good place to be. And we do recommend two things. Number one is a Roth IRA. Is it right all the time for everyone and every circumstance. I can tell you it is not. But I can also tell you that for many of our listeners and many of my clients, it is right to convert some of their retirement income or excuse me, retirement assets that might be in a traditional IRA. It does make sense and it has made sense to convert some of those over time into a Roth IRA. We like to have money in the tax deferred bucket, the tax free bucket. And sometimes you're going to have money in the taxable bucket is just going to the way it is. So Roth IRAs, a great idea to consider life insurance and buy that. Typically, we're talking about a universal index, universal life insurance policy and IUL. So that's more ideal for people in their 30s and 40s and maybe early 50s that are willing to commit to funding and over funding that that let it grow after that period may be overfunded for ten years and then let it grow. And that can potentially result in some outstanding tax free income in those retirement years as well. And you know, again, we're going to work with very, very strong companies that have a history of producing great results for their clients. That's that's the only way I'm going to consider helping my clients through some of these companies out there. So, look, people hear about municipal bonds and they say they're non-taxable, blah, blah, blah, blah. Well, on a federal level, that can be true. But what about state and local taxes? And so, you know, there's different things. A lot of the people, things that people have heard over the years are not always 100% true. That's why we try to shed a little bit of of spotlight on those ideas. And we really want to, you know, tell people whether they're actually 100% true or not.

Producer:
And that's what I love about doing this, about being part of the Buckeye advisor, is because as one of my favorite TV shows ever of all time is MythBusters. I think I have probably seen of the original run of that show, like every episode. I just absolutely love those guys. And you know, they they get to blow stuff up, stuff up and have fun and all that, you know, just so much fun. So but they are busting myths. They're saying like, oh, you know, here's this urban legend, but it's not. We're going to prove to you that this is not true. Well, that's like, you know, we're on our own version of MythBusters here, you know, busting the myths that have to do with retirement planning and investing and all of that. Because, you know, you're right. People do have misconceptions about things like muni bonds. People do have misconceptions about things like Roth conversions and may not even know exactly what a Roth conversion is. So I'm glad that I get to be here to to, you know, not only be educated myself, but help along in the process of debunking some of those myths.

Woody Bowling:
Yeah, it's great to have you along and it is very, very rewarding and gratifying to help people. And that's why we do what we do. And I feel blessed to do it and I feel blessed to have the relationships that I have with clients. And I'm looking forward to some of the listeners that are listening today that are going to be reaching out soon to learn and sit down and talk about their own situation to see if there is something that we can help and make some recommendations to possibly put into place.

Producer:
Yeah. And that's really, you know, the next step. If you've been listening for a while and you know, if you've been a great listener here for the past several months now that we've been doing the show, gosh, it'll be a it'll be a year before you know it here. Woody, Um, if you've been listening to us for these past several months and you've put off calling because look, I get it. You know, we're all, we're all busy. We all have things going on. We all have. We all have lives, you know, and different things that are happening. But if you've put it off, you know, there are several reasons that you shouldn't put it off any longer. There are a lot of reasons that you should call Woody Bowling right now. At (937) 974-6201 or go to TheBuckeyeAdvisor.com and I will start off by saying what do you think the number one reason is that you offer free and the said free full financial consultations.

Woody Bowling:
Yeah that's it. That's the backbone of what makes this work so well. The relationship starts out, you know, there's no expectation other than I just need honesty from people and they just need to fill me in on their whole situation. I'm going to make some really good notes. I'm going to analyze the situation overall. If you have an annuity today and you've had it for a few years, I'm going to take a look at it and I'll give you the input of whether or not that annuity can be moved, whether it makes sense to be moved or, you know, maybe it might be movable down the road into something else that might be better suited to your situation. So we'll give you that annuity x ray. No charge for that. We need to know how much you're paying in fees in your current accounts, whether it's an IRA or 401 K or anything else. 403 B, I can help you with Social Security planning. I get those questions often. And your Medicare, you know, when people today are turning 65, I hear from them and they want to know, does it make sense to do my own Medicare plan, which it probably does 95 times out of 100, But in those five cases, out of 100 people are better served staying on their group health plan until they're ready to step away and start their Social Security.

Woody Bowling:
They and then they want to know when do I when should I start my Social Security? So lots of things that we're going to look at in that meeting and in subsequent meetings, and we're going to make comparisons to where you're at today. The most important thing, Matt, you know, for our listeners to realize is it's their money. It's no one else's. It's their money. They put the blood, sweat and tears for 30, 40 years in a profession or maybe in 2 or 3 different professions. And it's their money. It needs to be treated with respect. It needs to be treated as the gold nugget that it really is because it's their money, whether it's 100,000, whether it's a million, whether it's 2 million, it doesn't matter. Every dollar saved for retirement is important. And that's the way I treat it and that's the way I treat everyone that I work with.

Producer:
And if that sounds like a good thing to you and I hope it does, you can go to TheBuckeyeAdvisor.com that's the Buckeye advisor with an or at the end their.com or call Woody at (937) 974-6201. Well what do you just mentioned that it doesn't really matter how much money someone has set aside for retirement at this point. You can you know, you're able to to help people in whatever their their situation might currently be in in the vast majority of cases that you run across, you can really help them make their situation better by working with you, analyzing that situation. Well, we've got for you before we get to this week in history and then wrap up the show here in a few minutes, if someone has, let's say, less than $750,000 saved for retirement, they might say, oh, you know, I really wanted to make to that 1 million mark or I wanted to make it to whatever, you know, big round number they sort of had in their minds. Well. If they have less than that 750 K or up to it. How can they feel more comfortable about their situation heading into retirement?

Woody Bowling:
Well, I'll tell you, a lot of people a lot, a lot a majority of our listeners probably, and naturally, I haven't spoken to every one of them, of course. But I think that many of them have way less or quite a bit less or some less than the $750,000 nest egg. If you're listening right now, I would ask you, can you envision. Protecting a portion of what you've worked so hard to accumulate. Can you envision protecting a decent sized portion of it? Potentially creating an income for life that you cannot outlive. And also realizing that you cannot lose principle in times of a rough stock market. And if you're going to retire and I can tell you and we can show you this report as well, if you start taking income right after retirement in the first 2 or 3 years, you're pulling from your investment account. That is not a successful recipe for long term success. And that's where I think we come in. We really shine well. We really show people that we're different. As a hybrid fiduciary financial advisor and licensed agent, I help people with that. A couple of other ideas. If you're in your 30s, 40s and 50s, consider investing in an index Universal life policy we talked about a couple of minutes ago.

Woody Bowling:
It can provide tax free income during retirement and and just as important during those years there are folks that pass away during those 30s 40s and 50s those earnings years and unfortunately not all of them are prepared. So having that life insurance policy is going to provide a tax free benefit to your spouse or your beneficiaries, kids, whatever. So that cannot be understated, the importance of having some life insurance in place. Another idea put a Roth conversion together. You want to lighten up on your future taxes? That's a great idea. You know, if you have a Roth IRA down the road, you don't have to pull money out. You don't have to take an RMD that you do from a traditional IRA now at age 73. And then also think about the rule of 100. Take your age, reduce it from 100, and then that portion you want to approximately go market market risk based and non market based market risk based. Easy for me to say, Matt, but you get the picture in the market for some, not in the market for others. That's what we're here to help people do is to understand how much should be in what spot.

Producer:
Yeah, that's right. And sort of, you know, an untwisting the twisted nature of a lot of these things in your minds because clarity is a good thing when you're trying to plan for your own retirement. And you can get help by going to TheBuckeyeAdvisor.com advisor with an or.com or call Woody at (937) 974-6201.

Producer:
It's this week in history.

Producer:
And some big things happen this week in history Woody okay here's the thing so if people have looked at we mentioned our YouTube page at the top of the show. People have watched our videos. They know that behind you, in your in your office, where you where you record each and every week our show, there is a signed Pete Rose jersey that hangs on the wall behind you. So I will let you take this one because I know that the very first thing on This Week in history means a lot to you.

Woody Bowling:
It is ginormous. Huge. My favorite baseball player of all time. Probably my favorite athlete next to the other jersey. Hanging next to his Pete Rose of the Cincinnati Reds, the big red machine. I was ten and 11 when he and the machine won in 75 and 76. Those two World Series. He was born in 1941. He's only about three months younger than my dad. A very little known trivia fact, of course. Pete spent all of his career, most of it with the Reds, then some with the Phillies and Expos. I choose not even to remember those, but I do think he won another World Series with the Phillies, if I'm not mistaken. But the all time hits leader in baseball games, played at bats, singles, multiple batting titles and an MVP. My favorite player of all time. But unfortunately, he decided to bet on baseball and he will never probably be in the Hall of Fame, which is crazy.

Producer:
It is crazy with those numbers, let me tell you. Well, also on the date of April 15th, 1912, boy, this goes goes goes way on back. But if you know what happened that year, you probably know that that was the date that the Titanic set sail or actually that it was had set sail a few days before and it actually sank in the middle of the Atlantic on April 15th, 1912. More than 1500 people dying on the Titanic. Of course, now there have been big blockbuster movies and and documentaries and books written about it, even Broadway musicals and things like that. So it's something that we will still, I think for years and decades and probably even centuries from now be talking about just such a tragedy, but a big moment in our history.

Woody Bowling:
You know, another great bit of trivia and we thank the listeners for and we hope they enjoy these bits of trivia that we bring each week.

Producer:
Well, I hope they do, and I am sure that they do, just like they enjoy all of the knowledge, Woody, that you bring to the table. I know I learn something each and every week and I know our listeners do as well. That's just about our time though. So I am going to wrap it up and say thank you once again, but we will talk at you again next week.

Woody Bowling:
Sir Matt, thanks for being here. Thanks for joining us for all your input and efforts. Thanks to you, the listener, for being here again today. Join us next week for another great show on 94.5 FM. The Answer or listen to the podcast wherever you listen to those and enjoy those. And we hope everyone has a wonderful weekend and a great week ahead.

Producer:
Thanks for listening to The Buckeye Advisor. You deserve to work with an experienced and licensed expert who will strategically work to protect and grow your hard earned assets to schedule your free no obligation consultation with Woody, visit TheBuckeyeAdvisor.com or pick up the phone and call (937) 974-6201. That's (937) 974-6201. Investment Advisory Services offered through Brookstone. Capital Management, LLC, a registered investment advisor, BCM and the Buckeye advisor are independent of each other. Insurance products and services are not offered through BCM, but are offered and sold through individually licensed and appointed agents. Investments involve risk and unless otherwise stated, are not guaranteed. Past performance cannot be used as an indicator to determine future results.

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