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Episode #609 - How to Read Your Social Security Statement

This show is dedicated to helping you not just survive retirement, but thrive!

Roger: Welcome to the show dedicated to helping you not just survive retirement, but to have the confidence to lean in and rock it because you're focused on the right things. Today on the show, we're gonna do something practical. We're just gonna go over how to read a Social Security statement, the ones that you download from the Social Security Administration. We're just gonna walk through that section by section. In addition to that, we're gonna answer some of your questions related to finding a ret. Second mortgages in retirement, Roth conversions, all sorts of things. I am back in. I guess my HQ in Texas got home last week. It's hot. It's hot in Texas. And the air conditioning in my upstairs studio is not working. So it's like 90 degrees up here. But we're gonna power through it, and hopefully my sweat will not short out the circuits on my mixer board.

THERE ARE SIMILARITIES BETWEEN BLOOD TESTS AND RETIREMENT PLANNING

Roger: Before we get to the main topic of reading a Social Security statement, I want to talk about testing. I just scheduled my blood tests here later this week, and I do extensive blood tests every six months. I pay a little extra through Function Health to test a lot of different markers. So I go in, they take like, eight vials of blood, and then I go in like, four days later, and they do another eight vials. I've learned my lesson. I got to make sure I eat right after. Otherwise, I'm just going to bonk. But there are a lot of similarities to the ritual or the protocol of blood tests and retirement planning. When we do retirement planning and we run a feasibility test, we put out what our goals are, we organize our financial resources, and then we test the feasibility of that. Individual tests have a lot of benefits. They give us a snapshot of information to tell us if we're on a healthy course when it comes to retirement planning. Or in the case of labs, am I in range of the key markers that are important? And it also can be a source of decision making based on how those tests come out.

So let's think about that. You have, let's say, cholesterol. Let's say in the medical world, if you do a test and your cholesterol is outside of range, that may lead you to making decisions. It could be improving your diet or improving a health program, it could be a prescription drug, etc. The larger the decision that you're making, the more important you explore the data more deeply. And that's very true when it comes to retirement planning. When you set your vision, you organize your resources, you test the feasibility. It may lead you to make some decisions about your allocation, about your timing of your goals, or the cost of your goals. So there's a lot of benefits to doing this testing, but individual test results can be impacted by a lot of things in the health world, but also in the retirement world, in the health world, what you ate that day or that morning could impact the results of your lab tests, your stress levels and what's been going on in your life that influences the physiological makeup could influence a test result. When you do one test result or one testing with blood, and Dr. Bobby has talked about this when he's been on the show, you can have a false positive or false negative where the test is just simply wrong. That is very true when it comes to your retirement planning and your feasibility testing as well. Right. You could maybe have something entered incorrectly or the markets are under stress, or you've had life stress that has caused you to spend more so you have less money in the account. And that's going to impact the result of that one test. Still helpful in decision making, but it's really not enough.

And when it comes to, at least this is my perspective when I do these extensive tests with my blood, I'm less concerned about individual readings and more concerned about doing the labs on a consistent cadence to identify trends. And I think that's where the value of having a protocol and a process is. So when it comes to blood, yeah, there's gonna be false positives, false negatives, there's gonna be things happening because of stress and, what you eat, et cetera, but when it comes to cholesterol or blood pressure or overspending or underspending, it's more important to identify trends than to have one reading that seems out of whack. Right. Blood pressure can be impacted by a lot of things. You want to have a good consistent trend of either reasonable blood pressure or it's going down. You're going to be more concerned if you see blood pressure or cholesterol continue to trend upwards. That's going to be a concerning thing to identify. Because the sooner you can identify trends, the more options you have to mitigate it. Right through exercise or diet or drugs or what have you. Very similar.

In retirement planning, the sooner you identify over and underspending, because you will have, and I know we do, because I'm going through all these Q3 meetings with clients. We'll have clients that are spending much well below their intended spending to the goals that we set. So they're underspending. Is that a concern? No, that happens. Life gets in the way of certain things that you plan on doing for sure not. But if there's a trend of underspending, that means the plan needs to be revised. Similarly, if we have overspending in a year, even if it's somewhat significant, if we understand the reason, that's not necessarily a negative. But if we habitually have overspending now we have a plan that's not really modeling reality. Very similar to if we think we're going to have part time income in retirement and it doesn't materialize okay in one year. But if that becomes a trend, this is the importance of a consistent protocol to identify these trends.

Now it also gives you a Baseline for conducting N of 1 tests and Bobby talks about this as well. In the health world. In the health world it might be cholesterol and then you test getting better sleep or you test diet and exercise to see if you can influence the trend. Additionally, if it's under or overspending, perhaps you do a test of tracking your spending more diligently or adding annual gifting and seeing how that impacts the trend. So less about the individual tests, more about the trends. And that's the importance of having a good protocol. So what you need is you need a sound process and you need a sound process that you use consistently in roughly the same way to help you focus on intentional decisions and actions.

Now there are a lot of obstacles that get in the way of following a sound process consistently in the medical world. I am way overdue for my blood work because I was in Colorado and the labs that I needed were not convenient to go to. So I had an obstacle that I knew was coming, but I didn't address. In the retirement planning world, we have a lot of obstacles to doing a consistent process in an intentional way over and over. And those obstacles are, our desire to find certainty, which leads us down lots of different rabbit holes. Our need to overcomplicate things or to be attracted to complicated things that can get in the way of a process that really is relatively boring because it's so consistent and focusing on unforced errors. It's not cool.

We're pickled to social media. Pickled means, I don't know if you know, remember what pickled means, where if you take a cucumber and you pickle it, it can't go back to being a cucumber. It's always going to be a pickle. And when I say we're pickled to social media, we used to get information in a very slow, intentional way. And now with Twitter and Facebook and LinkedIn, it's like 24, 247 news. We're just addicted to all the updates and everything else. It's a whole nother discussion, but we're told of that. So we constantly are getting bombarded with influencers touting the new supplements or the new exercises. You know, if it comes to the health realm or the influencers, the financial influencers or marketers touting the best investments or the best strategies or playing on our fears, all of these things get into the way of good old consistent, well thought out retirement planning that isn't cool but can keep you safe and intentional in your decision making. So I was thinking about that as I scheduled my labs. We're going to keep banging that drum because retirement planning is meant to enable you to go off and live a great life, not to simply become a retirement planner in your retirement okay, now we are going to talk about your Social Security statement.

YOU CAN DOWNLOAD A PDF VERSION OF THE ANNUAL STATEMENT OF WHAT YOUR SOCIAL SECURITY ESTIMATE IS

Roger: Now I'm going to have a video where I'm going to walk through a Social Security statement. I downloaded mine. I redacted the things I wanted to redact. So if you are signed up for the Noodle, you will receive a link in this Saturday's Noodle where you'll be able to watch me walk through the Social Security statement section by section. So I'm going to do it here. But if you want to get that and you're not signed up for the Noodle, you can go to rogerwhitney.com and put in your name and email and you can get a video walkthrough of a Social Security statement. This is a really important document that you should get once a year. And you can go to ssa.gov it's important to claim your Social Security account at ssa.gov so make sure you do that. But then if you do that, you can log in, you can manage your benefits, but you can download a PDF version of the annual statement of what your Social Security estimate is. So I'm just going to go through it section by section.

So if we are looking at the first page of Social Security, it says your retirement benefits. And here I'm looking at mine. It says you've earned enough credits to qualify for retirement benefits. So that's important that you have to earn credits in order to qualify for retirement. So it tells me I've earned enough. If yours doesn't say that, that means you need to dive in a little deeper of what kind of income or credits you need to get in order to get full Social Security. So I qualify for benefits check. It says my full retirement age, FRA we say for short, is 67, based on my birthday, check. So I know exactly when I qualify for full retirement ages. And as the chart shows you, it says you can start at age 62 and you can wait as long as age 70. Now, right below that where there is a paragraph, it says this is based on your earnings to date, assuming you continue to earn. And it will have last year's reported earnings, assuming you continue to earn a blank amount per year until your benefit. So that means if I were to retire at age 62, this number isn't accurate or as accurate because it's assuming I at least earned what I earned last year all the way to full retirement age. That's important to understand because if you retired, say in your 50s or relatively early, that Social Security benefit is likely going to be a little bit lower.

Now, there is a detailed calculator at ssa.gov which we'll have a link to in the noodle, where you can actually enter your earnings history. And then what you would do is if you retired at age 60, you would enter zeros between age 60 and your full retirement age to get you a more accurate estimate. Now, in my practice, I've done this countless times. Generally the delta isn't that huge, but it all really depends on your earnings history. So that's the box upper left. Now let's move to the right. It says your personalized monthly retirement benefits estimates. So I'm looking at mine, and it says at age 62, my estimated benefit is $2,673. And then you'll see that increase as the ages increase. So at full retirement age for me, which is 67, my estimated benefit is $3,796. And then if I, it shows, you know, 68, 69, and then age 70, it says it would go up by roughly $1,000 a month, a little less $4,708. So those are the current estimates in today's dollars of my Social Security benefit showing age by age increases. Now, those numbers as, as they increase as you get older, mathematically they all are supposed to equal out based on the life expectancy table. But next year when you do this, all things being equal, you will see these amounts increase by the COLA that Social Security automatically has in it. All right, so those are the top two boxes from right, left to right.

Right below that says something about your disability benefits. To the left it talks about your Medicare, and it says you have enough credits to qualify for Medicare at age 65. And there's some information below, and there are helpful links on the PDF version that will take you to more information. So as an example, on the disability benefits, it has a link to the ssa.gov disability. Then below that, it has survivor benefits showing what a minor child would receive if my spouse were to start at full retirement age, what her benefit would be. And then it gives you more information on survivor benefits. So that's page one.

Now, page two at the top left there is your earnings record, and this is what they're basing your Social Security estimate on. So this is pretty important. So you review your earnings history, and it has it listed below, and you want to assure that it's reporting the earnings correctly. So in my case, and I guess they do this as you get older, it gives you a summary, like, of my earnings from 1981 to 2005. And you can get the full history. It's actually pretty interesting to see you can get the full history online, but it truncates those years, and that shows me each year from 2006 to 2024. I think I just filed my taxes finally. And it shows the earnings taxed for Social Security and the earnings taxed for Medicare. Those two numbers won't necessarily be the same because your earnings, like let's say you earned $400,000 a year. That is not what you're being taxed on for Social Security, because there's a limit of the income that they use for taxing you. For taxing Social Security or, fica, and then once you hit that earning, then they stop taxing for it. But it's important to review those years. In fact, I looked at my 2024, which I just had reported. I haven't even reviewed my tax return with my CPA yet. It looked really low to me. And that's what you want to look for is the year. Are the years listed in this case from 2006 to 2020, do they reflect what you actually earned or at least up to the Social Security limit for that year? Because that is what they're going to use to calculate the average in order to determine what your benefit is. So if you have an underreported earnings to the Social Security administration, and I've seen these glitches happen, then that could impact your benefit. And there is a process to go through appealing that. All right, so that is important.

IMPORTANT THINGS TO KNOW ABOUT YOUR SOCIAL SECURITY AND IT HAS SEVERAL BULLET POINTS

Roger: This is page two. Earnings record now to the right of that. And again, if you are signed up for the Noodle email, you'll see this in video form and we'll walk through it together. Important things to know about your Social Security and it has a number of bullet points and we'll go through a couple of them. Social Security benefits are not intended to be your only source. You need other savings. Just a disclaimer there. You need at least 10 years of work, 40 credits to qualify for benefits. And it talks through what that is to keep up with inflation. And here it says benefits are adjusted through a cost of living adjustments on an annual basis. Let me see, whatever the points, the age you claim your benefit will affect your survivor's benefit, and that's important to know. If you claim at 62, even if your spouse claims at full retirement age, if they're getting any type of spousal benefit, it could impact what their survivor benefit is. So you want to walk through that. And we've had discussions about that before. If you are divorced and were married for 10 years, you may be able to claim on an ex spouse's record. It's important to know that. So the number of bullet points that are things that are worth knowing. Now let's go to the third page. And this is where it's much more generalized, not necessarily applicable to just you. This is, what your choices are when you hit age 62. Benefits as long as you live. It talks about working while you get benefits. And it has links to more resources. If you work while you receive Social Security benefits, your benefits could be impacted. If it's before full retirement age 62 to 67 for me, then some of that would be recaptured or taken away and then recalculated at full retirement age. That's important to know. And then if you're past full retirement age, a portion of your benefits could be taxed. So you can get information through that talks about work being, you know, helping boost some of your benefits could be taxed. It talks about savings for retirement.

I'm on page four now, which I think is the last page. Now this is an interesting section. I've never actually read this one before. Social Security will be there when you retire is the headline. And this is interesting. It says the Social Security Board of trustees estimates that based on current law, trust funds will be able to pay benefits at full and on time until 2034. Then it goes on to say in 2034, Social Security would be able to pay about one or eight hundred and ten dollars for every thousand dollars in benefits scheduled and has learn more at ssa.gov. Therefore they're saying there's with current law that they estimate that you're going to get about 81 cents on the dollar for Social Security benefits if they don't make any changes. So that's reality right now according to the Social Security Administration. Now I've always said that I don't really test for decreases in benefit because my judgment call is that they will make adjustments. The adjustments actually aren't that difficult if the political will is there and the American system is relatively good at doing what they're supposed to do after they've exhausted all of their options. But this is reality according to the Social Security Administration and we've had experts on as well that talks about this being the law. This is not if the trust, you know, this is a promise and that even if the trust fund is depleted, there's some regulatory or legal or legislative requirements for us to pay our benefits. But I'm just reading what it says and then it talks about benefits to spouses. So this is an appointment statement. It's a good protocol, especially as you're getting closer to retirement, to download this once a year just to get better information on what your benefits are going to be. So if you want to get access to me walking through this on video, you can see the link in the noodle this weekend.

IF YOU DECIDE TO DELAY YOUR RETIREMENT UNTIL AGE 70, IS THERE ANY DIFFERENCE

Roger: All right, let's talk about, well, your questions. If you have a question for the show, you can go to askroger.com and you can type in a question, leave an audio question. You want to tell us how you're rocking retirement? We love to share those stories as an inspiration for me and for everybody. You can do that at askroger.me.

So we're going to start with Jeff's question. Jeff wants to think through some timing. Here's my question. He says, if I decide to delay my retirement until age 70, is there any difference in the retirement strategy? For example, if I retire at age 70, when should I create the five year pie cake and how many layers should I initially have? Jeff, it really doesn't matter from the perspective of, you're mapping out your cash flow. So I don't know how old you are, Jeff, but let's assume that you're 67. If your plan is to delay retirement until age 70 and you're age 67, it would be a good exercise to go through what your vision is, how much my base great life costs, what resources do I have to cover? Is it feasible? And as you're thinking about how to make it resilient, you're going to map out a five year cash flow estimate. And I would suggest that if you're 67 and you're working and you're thinking you might retire at, oh, somebody's at the door, Sherlock's barking, and you're going to work for those first three years, I would assume that you're retired. But then add back in the income that you have from your work, and there's some number of reasons for that.

So in that five year cash flow estimate, as you're building out the allocation of your assets, you're going to assign a purpose for every dollar, even though you have a lot of income. So year one, two and three in this example for you, Jeff, you're going to add in the income that you have from work along with whatever income sources. And then below that, you're going to have what your base life, great life costs, what your discretionary spending costs, and what your aspirational spending costs year by year when you're 67, was 68, when you're 69, when you're 70, and so forth. And you're going to have a cash flow estimate to see if you're tapping your assets for some of these aspirational spending that's going to lead you to how much do you need to have in that income floor in order to pre fund spending. And if your income from work is covering all of that, then it's going to be no you don't. So that will lead you to more upside when it comes to your growth layer. So it'll naturally lead you to allocate assets and put a purpose for every dollar. You'll have your contingency fund, which is like your emergency fund, you're going to have your income floor. And if your income's covering most of that, then you're not going to have to have as much there in theory. And then you can allocate for growth and longevity, et cetera, or upside. But the reason I think it's good to do this when you're in that transitional stage of shedding the skin of work and you're not quite sure when it's going to happen is, oftentimes, Jeff, what happens is you may make the judgment call that even though you think you're going to work until age 70, that you want to pre fund and have more liquidity just in case you change your mind. So if you're a little on the fence, I think I'm going to work till age 70, but they might force it upon me because of what's happening with tariffs in the economy, or I might really get sick of it and I always want to have the option. Then you could set this up to have more liquidity, maybe sooner than you need, which isn't necessarily a bad thing as long as it creates a feasible plan just so you have the optionality to say take this job and shove it. And in the event that they say take this job and well, don't take this job anymore, you're fired. So you may make the judgment call to have more liquidity just for that optionality, in case you change your mind or life happens.

QUESTION FROM MARY

Roger: Our next question comes from Mary. She says, I started listening to your podcast about 10 days ago, I am here to tell you that it's changed my life. I'm the spouse who, previous to tuning in, knew nothing about our finances. Now I find myself in the midst of a divorce at age 63. I have listened to about 50 episodes with the goal of listening to all of them, and I already feel empowered with a few tools and understanding to embark on my retirement plan with some confidence. Our money is at Vanguard, I'm on the wait list for the Rock Retirement Club, but also feel it may be advantageous to work with a planner other than the one offered there. I don't know if you're comfortable offering referrals, but I thought I would ask in case you have a fabulous planner in Boise, Idaho. Thank you for your podcast. You have a very thoughtful way of presenting information that any person can comprehend. Mary, sorry this is happening to you at this stage in life and I don't know any of the background, but I want to affirm. I think you're already taking active steps just in what you wrote and the way that you wrote it, to find agency and lean into this new life that you're embarking on while you mourn and walk through the closing of a season. So I just want to affirm that it sounds like you're living life on your toes as much as you're maybe getting pummeled a little bit. So I just want to affirm that.

So I think in the email I wrote back to you, I don't have anybody in Boise and I said bravo. I'm leaning in to take control. Honestly, I think joining the club is the best place to start. It will allow you to put in reps of building your own plan, and it will allow you because it has the tools. It's going to walk you through step by step, putting your plan in place in a very iterative way. And you're going to have a safe place to ask questions of me or my team and the club or other members that have a beautiful spirit to help you get the reps in of what it means to build a retirement plan, which I think will help you avoid unforced errors in trying to hire a planner. I think that is a great first step. I would argue to do that before you hire a planner, because hiring a planner, I don't have great referrals because, I think retirement planning is something that's a specialty. And I have a point of view of how it should be done that's been tested for decades and a lot of great people out there that don't know what they don't know from a planner perspective. So I think this will empower you to find a planner if you feel you need one to extract the most value from them because you are more informed of the process. You can do this even though you haven't looked at this. Trust me. It's about unforced errors and it's about process. It's not about some super duper smart strategy or intelligence, thank God. Otherwise, I don't know what I would do. It's about process and thoughtfulness and intention. So I just want to affirm that to you now.

In The Noodle, we will link an interview worksheet for interviewing planners, if you are pursuing that. Mary, I don't have anyone that I can naturally recommend. It's very frustrating. Andy Panko, he may have some that he can recommend. I know he's a wonderful guy. I'm sure if you emailed him he would make a suggestion or two. But he and I both struggle with this, honestly, and we're doing our best to work on how to find the solutions to make this more accessible in our own ways. So I think the club's a good place. Grab that worksheet. Feel free to email me if you're interviewing. If you just need a second set of ears to bounce ideas off, I'll try to be that safe place just to, I've been around a while, so I can maybe help if you're interviewing somebody to tell you how to navigate that so you get the best value. So good luck to you.

JULIE’S HUSBAND IS LOOKING AT SUDDEN RETIREMENT, SOMEWHAT HEALTH RELATED

Roger: Our next question comes from Julie, who's been listening for about three years. She said my husband is looking at sudden retirement, somewhat health related at age 59 and a half in the next few months. And Julie wants to know are there one or two basic episodes of your podcast I could refer him to? He's been diligent his whole life in putting money into a 401k and has become interested in general investing concepts. Watching stock shows, buying some individual stocks. However, he does not seem to have a holistic overview of various concepts covered in your many podcasts. The income floor, what a Base Great Life is, maintaining a non-equity based fund, etc. He's not a podcast listener, so I look for something very accessible, perhaps something on your website alternatively. So another link we'll have in the noodle this weekend. Nicole I know is listening. Nicole got lots of links this week. We have a two page PDF of what the pillars are for retirement. In the financial realm you have a vision and we define what that is. You want to make sure it's feasible, it talks about feasible. Then you want to make it resilient, then you want to optimize and then it also has non-financial pillars. You have to have energy to show up, you have to have passions and hobbies, you have to build relationships and you have to have the proper mindset. So we'll share that in the noodle email. That's a good, very short primer. We will also link Julie to the last time we did a month-long episode on the basics. We have some episodes that talk about each one of those pillars. It is tabled to create a short video series walking through the summary of each one of those pillars. Don't have it scheduled for production yet, but I agree with you on the accessibility because we all don't listen to podcasts. Now a couple thoughts about what you said that he's doing. I think step one is to stop watching financial shows and dabbling in stocks because those will have nothing to do with retirement planning and with investing for retirement. And it can actually create a lot of fear, a lot of fomo because that's how they're wired. And dabbling in individual stocks is another thing that frames the financial realm when it comes to retirement planning incorrectly and it can cause us to think it's all about tactics and strategies and buying the right things and selling the wrong things and that could actually be a disservice. And when we talk about the four pillars, they are sequential and the first three are the most important vision, feasible, resilient, Optimization is about all the financial stuff and the tax stuff that generally dominates the media. So we'll do our best to get you these episodes and that primer in the noodle that will happen. And then we'll work on building some more accessible content for the first mate, the one that's not into all this.

JOY HAS A QUESTION ABOUT ROTH CONVERSIONS. ROTH FIVE YEAR RULES CAN BE CONFUSING

Roger: So Joy has a question about Roth conversions. I'm late discovering your podcast. I love it. Thank you so much. You're welcome, Joy. I love doing it, Joy says. I had a quick question regarding Roth conversions. I have been told that each tranche of money converted carries its own five year rule that it's not like contributions to a Roth, that once they're open for five years, you're good to go. Roth five year rules. Julie Joy. Julie Joy. Joy. Joy. It's Joy to be Julie Joy. Roth contribution Five year rules can be confusing. Ask for your question. If at the time of withdrawals you're over age 59 and a half and you've had your Roth open and funded for more than five years, you're golden. So if you've had a roth with a dollar in it for at least five years and you're over 59 and a half when you're withdrawing money, ignore all the five year rule stuff. It doesn't apply to you if you don't meet both of those to satisfy the Golden Rule, it's more complicated, so I'm going to make the assumption that you do. Now we have episode 497 where we go into these complicated rules more. But Joy, if you're going to be over 59 when you take money out and the Roth has been open for five years, don't even bother listening to it because it'll just confuse you and it doesn't apply.

SMART SPRINT

Roger: And with that, let's go set a smart sprint. And we're off to set a little baby step we can take in the next seven days to not just rock retirement, but rock life. All right, in the next seven days, I want you to make sure you have. If you already have it, check the box. Go do something fun. If you don't log into your account at ssa.gov or create and claim your account, which is really important from a cyber security standpoint, either one. And download your most recent Social Security statement. It's a good thing to do at least once a year and just review it depending on where you're at. You know, if you're prior to retirement or even if you're in retirement. The most important thing I think until you're getting to, a ripe banana, where you're going to make a decision is to review that earnings history on page two to make sure that the reported earnings are accurate or close to accurate. And then if you are running a feasibility model in some software, you can update your new Social Security estimate based on current data. Holy coholy. Holy cannoli. That's what I meant to say. Holy cannoli. There we go. It is hot up here. It's like 90 degrees here in the late afternoon. I'm doing this on a Sunday. We have been allowing this H VAC unit to limp along by recharging it with Freon, I think, for four years. I think this is the come to Jesus moment where we gotta get a new one. So hopefully we'll have that done by next week.

OUTRO

Roger: So today on the show, what do we do? We talked about the importance of the process and doing it. The importance isn't in one test. Is my plan feasible or is it resilient? It's really about the consistency of testing and looking for trends. That's where the value comes in. Just like with your medical labs, because one test, a lot of things can influence that based on markets and spending and seasons, et cetera. So it's the consistency. And there's a lot of things that get in our way that we gotta handle. This should not be super exciting, and it should not be a whole new job in retirement. It should be a compartmentalized structure that can give you clarity, which gives you confidence you can actually go create a great life knowing that you're gonna revisit it in a systematic way, because you've already set the meeting, you got a protocol. That's the point. Not all this stuff we read about and all this influencer stuff, that's just distraction. And we also talked about your Social Security statement and a very simple protocol to make sure you understand it. And we'll have that video out. In addition to that, we talked about the 5% rule and hitting that golden rule. If you're over 59 and have had one open and funded for five years, don't worry about it. and then also how to create a pie cake. I love hanging out with you on this show. I hope you enjoy it and get value from it as much as I do. It just makes me smile. Have a great day.

The opinions voiced in this podcast are for general information only and not intended to provide specific advice or recommendations for any individual. All performance references are historical and do not guarantee future results. All indices are unmanaged and cannot be invested in directly. Make sure you consult your legal, tax or financial advisor before making any decisions.