Mastering Market Volatility: Will Your Money Survive? (Episode 10)

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this is 93 million with Doug Andrew welcome to 93 Million with Doug Andrew where we talk about how to optimize your assets minimize taxes and empower the three dimensions of your authentic wealth my name is Greg Dukewitz your host facilitator and IL specialist and in today's show we're talking about historical investor performance the 4% rule and using market crashes to your advantage that sounds exciting and we're joined by New York Times best-selling author leader of the

IL insider community and the author of the Laser Fund Doug Andrew welcome Doug good to be here as usual a co-author of the Laser Fund IL mastermind and someone who forgot to pick a March Madness bracket Eron Andrew hey hey hey hey he came in last place anyways and also co-author of the Laser Fund the IL Einstein the top IL specialist and someone who really doesn't care to pick a March Madness bracket but he did anyways Aaron yeah that's me happy to be here and our featured host for today IL

specialist and lover of board games Scott Reynolds howdy howdy i love that birthday's coming and you did pick uh uh moderat you did moderately well in March Madness hey we all beat Em right so we all beat everybody i picked Florida i did pretty good that's right i had to make you guys all feel good somehow yeah that's right all right gentlemen we have some very important topics for today let's just jump right in starting with our first uh segment the great tariff

uncertainty tariffs have been dominating most of the economic headlines and of course there's been some major market volatility in the last few weeks and here are just some of the headlines according to Investopedia tariff concerns persist amongst a turbulent economy marked by uncertainty yahoo Finance NASDAQ tanks with Trump's tariffs barons says markets are depending on trade deals fox News said Trump called the Fed chairman pal a major loser okay I can't picture Trump

saying that at all you said it pretty you got to say like he said you didn't major loser okay I got to work on it okay and the VIX index has been showing high volatility ever since early April so dogs and cats living together dogs and cats living Everything's coming apart okay so Doug let's start with you as we always like to do what should people make of all this market uncertainty that we're experiencing right now well first of all yeah quit panicking okay but what's

interesting what Trump is doing in my opinion okay he's implementing reciprocal tariffs to match what countries are charging and then his plan is let's get together and negotiate and bring it down to maybe zero tariffs and

he's been saying this is going to take a few months the market is going to respond just be patient because this is going to set up an an extremely prosperous uh relationship and he also talked about the external revenue service which is tariffs in fact the United States operated only on tariffs until what 1913 and they only had income tax to finance wars but yeah here's here's the what's happening wall Street builds this up and people hear and then he implements it and then the market

tanks and then all of a sudden he he comes out and says "Oh I'm going to do a a 60-day stall you know and then the

market rebounds rebounds 10%." It just shows how how this is just so volatile because people get involved emotionally my recommendation if you're not taking income or anything like that just sit back and play this out and watch what happens because the the uncertainty is going to cause a lot of people to do stupid things yes and then uh if you just be patient then we're going to ride it back up unless you're trying to time

the market daily yeah just just sit back and don't worry about it because unfortunately people react instead of acting we're going to talk about this more in in one of our other segments eron what are your thoughts on this well uh I don't know if you are panicking I think it better you better have a right strategy yes right you're probably panicking because it's your serious cash and it it's going to drop and is it going to come back up i mean that's that's the big worry is it is it and so

more important than anything I mean if you're panicking it probably means you don't have a strategy in place to address something like this so it's better it it's time to get on board and get a strategy built what is your strategy to build it because there are strategies i mean we talk about these strategies all the time on this podcast in order to deal with this kind of un how to create predictability when you look at all this excitement out here what does that spell it spells

opportunity yes buy low sell high is kind of the old adage right we have huge opportunity here i mean this is it it is and that's where you've got to make sure do you have the strategy in place to take advantage of it yeah yeah erin thoughts i think like you look at the VIX for example we were looking at the VIX the the volatility index and I mean yeah it's kind of people are panicking and things are happening but yeah I think what's neat was we'll get into it later in our strategies is we have

protection we can reset we can you know take advantage of this like Eron just said take advantage of the opportunity and grow taxfree that's one thing that's really cool is you can take opportunity some people think oh I got to wait before I do anything new or different i got to wait till the market comes back up because I've lost money so no let's look talk about repositioning to grow taxfree from here on out it's kind of cool but um yeah I mean be patient i

think we're okay things are going to be you know volatile that that 34% VIX right now and has been up and down right now is going to continue for a little bit with this craziness but I think we'll be okay yeah scotty our guest host for today what's your take on all this yeah so I've been a I've mentioned it I think last a couple times ago I was on but uh I'm a huge proponent of uh Calvin Culage yeah silent Cal and he was a big proponent of tariffs and in fact uh

here's a couple of things I just wanted to share about him khulage was skeptical of free trade arguing that it could undermine American industries by exposing them to cheaper foreign goods in his speeches and writings he often emphasized the importance of protecting American markets to sustain economic stability um so uh Calvin Culage pulled America through a greater depression greater than the Great Depression and did it in one year by doing exactly what we're experiencing right now and uh it

brings more money back to the country it provides jobs and we're we're seeing that already happen so but people are all worried about the stock market right now right now yeah it's so interesting i've heard that about Calvin Kush i didn't know about the tariff portion but but I knew about the the There's a thing called history and if we go back history we can learn something yeah we can learn that tariffs didn't kill the country in fact it actually saved it so

yeah that's great well listen let's get let's get into our next segment but first just a reminder that if you're enjoying this content and you want to see more of it please like and subscribe and ask us a question or comment we may

use it in one of our next shows all right the average investor was below average well that doesn't seem to make a lot of sense but according to a recent in recent a recent Dowbar report the average equity investor earned 5.5% less than the S&P 500 in 2023 that means that I mean are most people losing then 5 and a half% well and in the last year if you look at the report in the last year people lost more than the S&P so then in the gain year they they

earned less and so and that's not 5 12% of the earning totality that's you know what I mean so it's like a 20% less than what it actually did if that if that makes sense they're losing more than what the market does and they're trying to be more conservative a lot of times it's just wild they lost more than the S&P on average just wild exactly so Aaron we're going to start with you with with you on this one and there's another uh line in here that says the the fixed

income investor uh earned 2.6% 6% less than the Bloomberg Barlay's aggregate average which is actually a big number if you're in fixed investment it's a pretty big number why especially when the returns are lower in a fixed yeah so why how what do you attribute to this too why why do why do why does this happen to the average why is the average investor always kind of underperforming the market well even what's what's happening right now like we were just talking about it panic people panic they

buy and sell at the wrong times and they they overreact so I think most clients and people overreact and they're in strategies this is the problem is their their money is a lot of times at risk in the market so they overreact because of the unknown and the ability to lose a lot of money and so they panic and then they they um Yeah also with politics so a lot of people that might not like Trump for example you know try to keep politics out of your decision-m too much

where it's like hey think about this let's see what's going on don't you know get too political look at what's happening in the markets yes but um yeah just don't panic I And that's the problem is people are are uh knee knee-jerk reaction to what's going on and so forth right people try to buy and hold for a time and then the market goes down so far so far and then they finally just give up and they bail out right when the market tends to come back up right well even right now like the ter

thing is what's happening is as it's rebounded a bunch right because he's down again yeah it's like and so people are going to take out at the bottom and then miss the rebound in a couple days yes like we're talking about couple days that's wild that that's in our vocabulary right now if your strategy is emotion that's your problem right i mean you you lack strategy you do not ha It all comes down to do you have a strategy and do you understand the strategy most

people don't even understand what the strate if they have a strate they don't even understand what it is or financial advisor or whatever and so now your strategy is just emotion so obviously when the market goes down it hurts what do you want to do when you're getting hurt stop the pain stop the bleeding so that's that's why you know that's why strategy always trumps it always trumps your your finances because you know what your long-term you know what your goals

are and you know how you're going to pursue those goals no matter what the circumstances are yeah scott what are

your thoughts i think let's just all do it together for and get everybody that's watching this breathe deep just take a deep breath in and then exhale and that's the best way to Don't everybody do it to your microphones at once yeah that's the best way to handle in a circumstance we're going through right now yeah take a deep breath i like it that's very good all right Doug wrap us up make sense of all this for us for this segment wrap us up well if you look

at stock market history for as long as I've been alive which is a long time long time whenever the market does uh a downturn okay and when it hits when it hits like a 10 or 15% drop Yeah which is significant right there's a certain percent of people they go enough already yeah and they and they sell and then and then when it starts hitting 20 and 25% another group of people no that's too much my million-doll nest egg's down to 750 because they're worried that they're

going to lose 50% right you can keep going they get invol and then when it when it hits 30 to 40% in that range that's what happened in 2008 and that's what happened in March of 2020 uh co 19 that people just sell because they they can't handle it and then what do they do they wait to buy back in and so they're buying and selling at the wrong time well that's the point most of the population can't handle this that's why your strategy needs to make sure you're

not experiencing this yep quit getting quit getting into something that's making you bleed i mean if you don't like bleeding look at that then get interesting that you would say that why don't you tease us Eron what's what's what's a strategy that you would talk about well again it the idea there is if you're losing and that's and you can't handle that then that's obviously something that you shouldn't be doing right so that's why we look at you know check out the laser fund check out

that's why we that's why we do what we do right so that we can help those the vast majority of Americans that can't uh don't have the ability they don't have the finances to be able to handle those kind of losses it's my serious cash and anxiety yeah the challenge is I mean you get to multi multi-millionaires and sure their serious cash might only be now a smaller portion of their portfolio before 99% of us most of our money is serious cash right so until you can get

past your serious cash threshold there then you can start playing around with stuff that can lose but until then man what are we doing what are we doing especially a lot of people are getting close to retirement or in or in retirement it's like they panic because they they like I have to go back to work good for good reason right the closer you are to retirement if you're going to start taking income those losses are are more impactful i remember talking to people in 2012

that were like "Okay I finally just made back all of my money I lost in 2008."

That's like heartbreaking that's four years later that it took people to reearn all of that money that was lost in like seven months right and that's just get to be get back to break even right that's not counting the four years of growth that they kind of missed out on from that break even point yeah yeah the sad thing is that the sequence of returns you guys will talk about maybe a little bit later too yeah if they started that 2008 if they retired around

then or those that was their early years of retirement those big losses in in the beginning years of retirement are so detrimental yep all right let's get on to our next segment the 4% rule what is it and how does it affect your retirement according to Investopedia the 4% rule is a planning rule of thumb that dictates a retiree withdrawal of 4% of their retirement funds and they point out that

some experts pointing to the recent low interest rates on bonds and savings suggest that 3% might be a safer withdrawal rate everyone in a language that everyone can understand what is the 4% rule and why does it exist you bet i mean it's probably exist because of our prior segment if you're in a market that you're bleeding Yes right and you're feeling that bleeding if you've got to you've got to be really conservative on your accessing of money i' I've said it

many times you know Wall Street was not designed to take money out of it it was designed to put money into it right so true and so you ask any expert on Wall Street go to the floor of Wall Street right there and say "Hey when is the best time for me to pull money out of my investments?" And every expert on the floor is going to tell you never because it wasn't designed to take money it was designed to put money into it so as soon as we start taking money out one we're

killing compound interest momentum yeah we're also putting ourselves into a a threat of uh you know moving our money over out of high yield opportunities because high yield opportunities are typically those opportunities where you allowed to put your money and leave it i just had a client he's got money in like the he's he's got his money in the stock market he's leveraged in the stock market he does really well there but with the recent tariffs the market's come down a ton right there and he

either needs to cash in these to pay his taxes for last year because the market was high last year now he owes the taxes on April 15th right but if he had to cash in the stocks right now and and cash in against his leverage he's taking a major loss i can't tell you how how excited he was to call me and be like "Hey Aaron I need to pull money out of my laser fund." Cuz the laser fund didn't take any losses it's still growing and he knows he's like "Look I just got I got to do what Doug's asking

me to do is to stay calm." But he can stay calm because he has a strategy in place the 4% rule is for everybody who is blindly going about finances without a strategy that's who the 4% rule is for that's very true yeah that's that's really good uh Doug if someone wanted to take out 50,000 a year of income let's say how much of a nest egg would that require with the 4% rule well let's go uh to the wisdom table the wisdom table i like and let me illustrate this we

were talking about uh Dalbar in the last segment okay right so what this is what

actually precipitated the 4% rule yeah dalbar for years uh the one that you see on the screen is a a 20-year period where DABR measures the difference between the investment returns if you bought and held versus the investor return which is the actual return experienced that we just talked about which is usually less okay and uh during that 20-year period which is typical if you bought and held your average return would be 9.14% which meaning which means if you

had a million- dollar nest egg right and if you were averaging 9% well theoretically you ought to be able to pull out 90 grand a year without depleting your nest egg before tax if you're in a 33% combined federal and state tax bracket you're only netting 60,000 or 5,000 a month most people can't do that because they're buying and selling at the wrong times like we just talked about the the actual return was 3.83 and the next the next year they did this it went down to 3.49 and so this is

why the financial services industry came up with this 4% rule they don't want anybody to take out more than 4% because if their average retiree is only earning three and a half they're going to slowly deplete their nest egg but not before their LE life expectancy okay and so this is what precipitate now the force 4% rule is totally unacceptable to me i mean it's ridiculous here's why okay to answer your question okay in order to uh generate $50,000 a year of income 50,000 a year is 4% of what

a,250,000 nest egg so you pull out 4% 50 grand oh but that's before tax okay let's say you're only in a 28% combined federal and state tax bracket okay uh 28% tax you're only netting 36,000 or 3,000 a month to buy gas groceries prescriptions and golf green fees okay that's pathetic the reason why I like IL is because that kind of a nest egg at an 8% payout could generate $100,000 at a 10% payout which many of our clients do at that's 125,000 i just simply ask people why generate 36,000 in

after tax income in a 4% rule when you could generate double or triple that okay yeah and I'll give you an actual example uh of this but uh this is a u this is a very powerful concept where many many people come to us and their adviserss are telling them to just take out the 4% even though they've been acting like oh we're earning for you you know eight and 10% but then they turn around but we only want you to take out three or four well what's up with that stole my thunder there yeah that's

exactly what I was going to talk about it's amazing sorry to steal your thunder it's just funny cuz it's they're selling you on these oh yeah we're getting 12% return 15 20% return they tell you want to touch it they tell you want to touch it oh no 4% rule the true optimists are telling you 5% so hey that's right yeah they tell you 5% but technically in a worst case scenario 5% may not work yeah exactly so it's like kind Doesn't that defeat the purpose well most asset

managers I think if you take out more than 4% you have to sign a waiver that you will not sue Yeah the the broker dealer for outliving your money yeah yeah it was ridiculous it's crazy it is amazing uh okay uh Aaron why don't you wrap us up on this uh basically what I mentioned before kind of leading into this uh the sequence of return issue yes is I mean you could average and this is one of the main issues because you could average eight let's say percent or even

that 9% and if you take those returns you have bad years and some good years right but then and you look at it over like a 30-year period if you have the bad years in the beginning of retirement versus at the end you can run out of money yeah versus you flip it and you have the bad returns at the end of your retirement and you have all the good returns at the beginning you could be

okay right with the same like eight or nine percent for example of income coming out this is why they said that 4% rule getting kind of technical because they're going to have losses we're going to have bad market years we don't know when that's going to be is it going to be in your early years of retirement yeah like a 2008 or is it going to be in your latter years you don't know yeah well but we know we're going to have bad years yes and so it's like this is the

the stress of it let's get rid of that stress and not worry you know the other part on the losses is yeah you lose money but now you have less money working for you right and that's that compounds in terms and you're taking out money while you're taking money out taxes yeah you have a million you go down to 600,000 you're still taking out income oh it's going to hurt yeah and and the loss gain relationship right so when you lose money now you have to have a much higher gain to get back to break

even and so we've talked about all those in other segments by the way just in case you're So so make sure you're catching all the shows okay well listen if you're enjoying this content and you were wondering how to take advantage of these ideas Laser Financial helps individuals and families like yours implement proven strategies to grow and protect your wealth one of our most powerful tools is the index universal life policy or IL it's not just insurance it's a tax-free retirement

strategy a way to grow your money with compound interest and a safety net against market downturns imagine being protected from market losses while still participating when the market goes up and tax-free income that allows you to keep more of what you've worked so hard to save go to laserfinancial.com or call 8015049 to schedule a free consultation and see how these strategies can work for you that's laserfinanicial.com or call 80150549 don't wait take the first step

toward a brighter more secure financial future today this content also brought to you by IL insiders are you a financial professional wondering how you can expand your business working with index universal life or IL are you leveraging IL to its full potential that's where ILs comes in in the next few weeks they're hosting the IL challenge it's a free 3-day event designed specifically for financial professionals to help you build a thriving scalable business uh

that sets you apart from the competition you'll learn proven strategies to market design and sell properly structured policies that deliver incredible results for your clients and for your bottom line if you're ready to elevate your practice and scale your business visit

ulchchallenge.com93 to save your seat spots are limited so don't wait that's iulchallenge.com for93 take your business to the next level okay calm versus panic il versus the market here we go uh we've talked a lot about IL versus the stock market um we've seen a lot of uh big drops and fluctuations recently like we've kind of alluded to already scott you've worked with a lot many many clients over the years um and what's the difference that you've seen with clients that have an IL

and Eron kind of touched on this but clients that have an IL versus clients in the stock market yeah um so I know people that are in other financial industries um and when the market crashes a lot of times they just don't go into work just they don't want to it's that depressing yeah it's that depressing wow uh the last couple of weeks my phone has been blowing up uh from texts from clients and stuff not in a panic actually excited about the market going down okay so that's good

can you can you explain more on why that yeah um so when we index with life insurance we reset at at whatever the market value is every year and so April 15th was one of those index periods right as the market's been taking this wild roller coaster and so they wanted to take advantage of these drops that we've been experiencing because whenever we hit a lower point there's a greater chance next year it's going to be even higher yeah and so they're looking for opportunities like this rather than

freaking out oh no it's the end of the world they're actually taking advantage of this right now because hey I get to lock in at a lower rate there's that much better of a chance I get a better return next year yeah man my hand was hovering over that key this last week i was I was about to push the button to transfer some index strategies i mean it rebounded too fast i know right i was like it just I just need an extra three days i know i was like Trump just just

don't don't respond for at least three more days it was just a hovering to be a And it's awesome i mean and it's great and if it doesn't recover if it does rec and if you don't know what he's talking about you need to talk to an IL specialist well and how refreshing is that to have people calling you and texting you I'm excited rather than I'm excited isn't that wild because in a way the more the market goes down you're going to get a zero no matter what right

from the market loss you don't you don't lose Look at how so you almost want to go down because it resets to whatever it goes down to you go down to zero they've always said affluent people make the most money when the market goes down yes right that's when your greatest opportunity is and everybody everybody's like scratching their head like I don't know sell high right well that's how we do it yeah and then clients I mean I have a few appointments this week right

now people like yeah I want to put more money in my policy i want to put more money in my IL i want to get more in there get in there and get it linked and get which index strategy should we use that's what we talk about it's fun amongst ourselves and then with our clients like which strategy should we use right now because every IL has different indexing and linking yeah we've talked about that in other segments right there's lots of strategies and you can update those

every year or kind of month or depending on when which one should we choose and no one knows the future but we have zero's the hero and the reset the reset like we've all talked about yes you guys got to understand that you don't lose when it goes down but you reset at

whatever the S&P is wait we have strategy we're not just out there just blindly running around we actually have Sounds like something talked about before the swing versus the clubs right the commodity versus the strategy man who brought up the swing versus the clubs i don't know that's that's something that's just been around i don't know where where it came from Doug anyways let's Why don't you uh wrap us up on this subject what are your thoughts on uh panic versus calm

well it's story time okay okay uh when I was Do we have any popcorn or anything when I was young a long time ago when my I was playing with my pet dinosaur okay i remember hearing this story of a young man who goes to get a job with a farmer and the farmer just says "Oh tell me about yourself." And he says "Well I can

sleep when the wind blows." If you've never heard this story the farmer couldn't figure out what he meant by that but he went ahead and hired this young man and uh so he's there on the farm and all of a sudden a few days later there's a huge storm tornado-like thing coming in and the farmer and the farmer's wife you know comes and and they try to wake up this this farm hand they just hired and he and he doesn't wake up he's just sleeping and so the farmer goes "Oh I don't know what's

going what to and they go out and they they they they go to the barn and they everything's buttoned up tight and they go over to the chicken coupe and it's all buttoned up tight and they go over to take the pigs and and they go to and everything was just and then all of a sudden they realized that's what he meant i can sleep when the wind blows he prepares okay I can sleep when the market blows okay so I used this metaphor years ago look at the screen money must have a

home money has to have Let's go to the Let's go to the white let's go to my wisdom table uh demonstration here and so I remember thinking of the story of the three little pigs okay so if you remember from the story of the three little pigs uh one of them built a house out of sticks okay so I call that moderate risk that might be investments in real estate okay uh I relate the stock market to houses of straw because the big bad wolf uh blows down the stock market and it can

drop dramatically in one day real estate you know it can drop but it usually takes a month or two or whatever it's a it's a slower lagging indicator right uh but I prefer to put my serious cash safely tucked in a house of bricks and out of all those listed the only one that passes what we call the laser test with flying colors liquidity i can access my money when I need it it has safety uh I don't lose my principle and in a year I make money i I I lock in lock I don't I lock in the lock and

reset and then I earn predictable rates of return and it's taxfree and that's the top one the insurance contract because the big bad wolf some people say

"Oh you're talking about the IRS." No I'm talking about the pandemics uh the recessions the threat to tariffs all this kind of stuff that cause the market to go down i can sleep when the big bad wolf blows down the stock market because my money is not there i I participate when it goes up but I don't lose when it goes down because it's over there in the house of bricks my real estate uh I benefit when it goes up in value but I don't lose when it goes down in value

because I don't keep my real estate equity there i keep it over there safely tucked in a house of bricks and so if we understand how to do that then you can get through all of this hoopla and you can be calm when the storms and the wind is blowing out there because your money is not affected by that and you're actually when there's anxiety there's opportunity right instead of you panicking and selling low right other than that he doesn't have any strong feelings on the subject

man you should do this professionally dog yeah you're you're good at this all right hey if you're enjoying this content and are wondering how to take advantage of these ideas at laserfinancial we help individuals and

families like yours implement proven strategies to grow and protect your wealth go to laserfinancial.com or call 8015049 to schedule a free consultation and see how these strategies can work for you don't wait take the first step toward a brighter more secure financial future today content also brought to you by IL insiders if you're a financial professional tuning into the show and you're wondering how you can expand your business working with index universal

life or IL join us for the IL challenge it's a free 3-day event designed specifically for financial professionals who want to master the art and science of IL visit ILchallenge.com/93 to save your seat spots are limited so don't wait that's

ilchallenge.com93 take your business to the next level and now for the podcast question of the day a username on YouTube that I legitimately cannot pronounce okay so I'm not even going to ask a prejudice 979 all right that's kind I have he says "I have uh I've watched hours and hours of videos to get as much information on this investment strategy as I can i've seen many debates on the subject but still can't decide which company to go through for a policy uh Erin how would you respond to this

question that's a very good question because a lot of people like don't know where to start don't know what to do and of course as we just mentioned you know Laser Financial what we do is we have every company so you have to go through someone licensed okay so first of all you have to go through someone licensed to get through these policies that's what we are at Laser Financial but what we do is we've researched all the companies so there's like there's about

85 i mean that's a lot but there's about really about 10 to 20 yeah that are kind of the really good kind of the top companies and what we've done is we've have a spreadsheet comparing index returns you know whether they're a stock or mutual company what kind of uh returns have they done in the past what kind of index strategies do they have what kind of loan features that does the policies have um getting into their fees comparing the fees of the policies comparing like different ages because

also at different ages we use different companies too so the bottom line is got to go through an expert an experienced expert yes i mean that's the key too i mean a lot of people are out there like "Yeah I've got a license so I must be an

expert." Yeah exactly but it's it's one that has and there's nobody nobody that has more experience doing this than uh than our firm right and yeah go ahead i was say like what Em was talking about too is we also train that's why that other company I will insiders where we train other adviserss how to do this because we get into like okay they're always asking us which company you'd use what's the index account that's the most common question we get what's the secret company and

product that you guys use and but that's the problem is like I had someone come to me and they bought a policy through a fiduciary yes and um they use a company we use one of the life insurance companies we use a good company it was a great Well and a fiduciary is not going to lose them anything right oh folks are supposed to do what's in their best interest right right and the policy was designed completely wrong like crazy high compensation for the adviser

because they designed it wrong wow okay and it just wasn't done correctly and it was just it was just mind-blowing like everyone said no they they probably didn't have experience or maybe they did it on purpose who knows but yeah I kind of think the latter there wow and they're supposed to be a fiduciary yeah right that doesn't mean what people think it means yeah so basically um you got to go through an expert that knows what they're doing that's been trained

and so forth so yeah we we'll be full disclosure with you we'll show you different companies different costs and everything that's what we get into i love the details and that's what we do Scott right yeah i I was just going to say that you know I' I joke about all the time but a fiduciary is I have a license to lose your money but I'm not a fiduciary so I don't do that but uh give us a call oh if you have policies you're looking at and you're not you can't decide you want to know if it was done

right we can do an IL audit and just make sure that it was done right again it's the swing versus the clubs right yeah so the strategy versus the commodity and if it's done right I'll tell you i mean I've got I've got people that have called me and said "Hey I I

want to know if this is done right." And it was done right but it's good because cuz the question was "What company?" Right and then your point was it was the right company with this client that this fiduciary did it was the right company but it was designed wrong it was designed wrong and so there's more to it than just oh just pick the right company or whatever and I got a client or even the right product i got an appointment in a couple hours uh with a client

that's like um hey um there was designed and the client's learning from watching these videos they're like hey I'm not max funding my policy so if I put in more yes you can max fund that policy yeah it's not the f my favorite company cuz you know but it's still a good company and you could you know you could max that one out and we could put more into another one so yeah it's just a matter of studying them out doing an IL audit we call it just audit yeah yeah audit that's great all right Doug uh

wrap us up for this uh segment here okay what are your thoughts well I think sometimes we may assume that everybody understands a metaphor when we throw out swing versus club so let me just let me just sum that up okay this is a metaphor I've often asked if you were playing in a golf tournament let's say and you had the choice of using a professional golfer like Phil Mickelson swing or you could use his clubs what would you choose i'd rather have his swing i'll

take Scotty Shufflers or Rory or Rory Mroy but not the clubs okay most financial advisors focus on the clubs or the commodity and that's why we say if if you're saying which company which product that's a club right there is a difference in clubs right but it's more important to focus on the swing to structure the IL correctly and fund it properly uh that's probably 80 90% of it then based on their age and the indices and what have you you could say these five clubs over here you ought to

consider you know but it's the swing more than the club so that's that's a clarification of the metaphor yeah and there's solutions if you have old policies that probably aren't working well and you know that again there's there's solutions for that and give us a call and we can help you out with that too the funny thing is most people are sitting on gold mines and they don't even know it like a tax sheltered gold mine and they have no idea and that's where we can come in and really show you

what you got what do you got that was very intriguing now you got a lot of people wondering okay well just a uh just a reminder that if you enjoy this content and you want to see more of it please like and subscribe and if you'd like to ask us a question please comment on this video hey we may use your question in one of our next shows well that's all the time we have for today go beyond the 4% rule take advantage of market crashes and turn panic into calmness take a deep breath thanks and

we will see you next week dogs and cats living together maskarion [Music]