Also in this playlist...
This transcript is automatically generated
Well people are living longer but their money is running out faster companies are cutting back a retirement benefits.
And you'd be nuts to depend only on Social Security so what can you do well -- family boss say invest an 8401 K Kimberly.
Help the audience because a lot of people feel like you know they've been going that they've gotten nowhere.
Yes but in reality yeah the first on the east fate today isn't worth more.
Then at the last -- say Charles so you know it might be they have a lull in the market or it's been kind of flat the last couple back past couple months -- -- -- to get the bond market.
But that's just a short term -- short term pain long term gain so don't look at that -- speculation.
That long term appreciation and there.
Any data safe because -- -- is not going to be there I'm just -- hearing and just activate it like it is news.
Yeah I can't let them know of argue with -- -- resort in a bit as there's got to be artificial dollars -- here's the thing.
The headlines always read don't rich get richer -- the rich are making money.
And then people get upset and why -- you mad at someone.
When did the blueprint is right there look at the Forbes 400 list I -- while they're all rich they all.
Old stocks well look we have to stop thinking in terms of -- stop.
We have to start thinking in terms of a business.
If the market goes down the market goes up doesn't matter you're drinking Coca-Cola.
You want to be owner of that business you're wearing Nike shoes you're going to this story you shopping and buying back car.
You want to be an owner of that business that.
Best way to do what is cite your 401K plan where you're -- with pre tax dollars.
What is the what do you see in diamond with respect to people now because what do you know someone mentioned earlier in -- show the herd mentality and we certainly do have a herd mentality.
Why things I've noticed is people chasing now stocks -- -- with Jason housing markets how we -- -- the baseball card is hot we chase enemy.
We've seen the chase as -- people so these -- As the markets beginning to rise to -- now coming to you saying okay I'm -- Had -- -- been doing this for thirty years and clients who -- -- -- bottle I always seem to buy something and it goes down it's because you're behind last year's winner OK you have to look forward.
Not backwards having said that you average over time you put a little money away you do every mom every week over a long period of time.
And you gonna take those highs and lows and average them out you dollar cost averaging you -- -- at the top you won't get in the bottom 2030 years later you wake up to get a million dollar senior for a want to.
And and here's the thing -- believe you -- to be 65 there's a gigantic chancellor of the B 85 and you know hit -- hit and and and I think that's how people have to think about this you know I I talk about the market all the time and a business channel.
And -- -- to both -- -- today's letter.
All -- just crushed -- it of course when it turns around and goes up -- never hear from them but this short term mentality how do we get Americans that get about this short term mentality.
And understand that in the long run this is never felt.
Well the reality is that -- apparently -- the person at the right apt to Mike Bryant.
888 you're gonna be here another 102030.
Years just arbitrarily and they go well yeah I hope so.
I think that this money is here for the rest of your life this is not short term speculation this is a long term appreciation and it -- journey of -- lifetime.
-- -- -- -- -- -- -- But my eight year old son.
Have a Roth IRA OK and yet you get there for a Wednesday -- -- -- he put money into it it's like 33000 dollars just like -- -- See it's 6% a year in -- that when -- 65 that could be about a million -- if he doesn't put another dime into it.
So short term -- got to keep that -- away.
-- -- -- -- -- Forget this and you know investment pornography.
If you well.
And really concentrate out what is your goal for the long term if he can't get out -- it just happened that's it keeps you want as straight arrow.
Right -- and and Dominique.
In addition to Kimberly being a great advisor she's mother of the year also I mean that's pretty impressive -- -- kids got a better for a one kid and I did.
I believe -- that now and I literally degree room called my client to which are happy 91.
Birthday -- So we get clients every day -- get a guarantee we'll -- agree on this -- they walked -- 65 result all I have to have a conservative portfolio.
I'm 65 like 65.
-- got thirty years of planning your party you're not thirty -- thirty years so let's build a portfolio affecting people with inflation yes it cannot be as aggressive as when -- nineteen -- result.
But we can create a balanced football that's a long term growth.
Aspect I'm glad you said that because that's the key everyone watching -- and you put this money under your pillow inflation will eat it up there will be worth nothing.
The longer -- -- -- pillow.
That would do the book that's worked less and less and less you guys are absolutely fantastic I'm gonna see timlin will adopt me.
And we appreciate you guys -- the best -- -- --
Filter by section