The Jon Sanchez Show
09/04-How to create the perfect retirement
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That's how into the market this man is. - Yes, yeah, I talk to me otherwise when I talk to me. - Not, you know, not massive fear, but the setup coming into what is a volatile month, unfortunately, is not favorable directionally, right? I was actually pleasantly surprised to see the market holding as well as it did today, just giving-- - We're right, though. - I think the data was fine-ish. I just, I would argue, any negative data point probably causes more friction than a positive data point helps us move to the upside. Does that make sense? - Yeah, you know what was interesting today, though? My favorite index, of course, the Dow. Every time it started to get beat up, unlike yesterday, the sellers came in and they came in pretty strong. And then, I mean, Jason, this thing is so controlled by the algorithms right now. I mean, you just see it trade by trade of what's going on. You'll get two upticks and then you'll get a down tick that matches just about the order size, right? And it's just all day long that way. But I think, you know, to your point, I'm pleased that we finished with a gain, albeit it was a small one of, you know, 38 points after yesterday's 600 point loss on the Dow. I was pleased to see the video finish up today and the NASDAQ only losing 52. So, you know, again, I think if we look at it half full or half to MP on the glass scenario, you know, probably get out of today, okay. But I'm with you. You know, we, you and I are both very concerned. We took some pretty severe defensive actions within our clients portfolios 'cause we are nervous. And, you know, both from a historical September standpoint and many other reasons going on. But, but the good news is though, I'm gonna give you some good news, 'cause I want you to be in a good mood because you gotta be smiling tonight when we do our webinar at 630, okay? - Yes, I know. - I got you to do a good mood. - It's been a busy day. So, I know you have some gas left in the tank. - Exactly. Go work out after the show. - I'm going to. (laughs) - But the good news is after a lousy economic report today in a number of different areas, we are seeing the probability increase of a not 25, but a 50 basis point or a half a percent cut at the next Fed meeting. So, does that, you know, the Joel's report was, was, you know, kind of our friend today for those that want a half a percent cut, I know you don't. - I mean, no, no, no. I actually would say I'm leaning in that direction. - Oh, we've changed. - Cheers. Talk to me. Talk to me. - Yeah. - You haven't shared that with me. - It's not gonna be a surprise, but I think that they're going to, so I don't know where I heard it, but someone was talking about the fact that you're not gonna get any, you've got a month off, right? And if you're the Fed, what would they rather do, say we're doing 50 basis points now, and maybe even guide for our, we expect the path is lower rate cuts, you know, incrementing of 25s or something, whatever league economic ease they use. Because if you just do 25, then it does very little, I would say. - Oh, absolutely. I'll put a percent agree. - Of course. And then now you've got two months of chaos, right? - Yes. - You've got October, you've got the election, you've got all this stuff going on that we could get data points that would cause. And the last thing they want to do is come in in the middle of October and do some intermediate cuts, sort of like, given that's not really Powell's thought. So, if the data continues to at least move in this direction, it would not surprise me for them to lean 50 and then go 25 after. - You don't think that'll smooth the market though. - I don't know if you table it well enough to say that the data has continued to decrease, you know, or at least move in the direction we expected it would. And, you know, given how restrictive we are, remember we've talked about this even with inflation and numbers that we've been seeing recently, they're the most restrictive they've ever been. - Sure. - You know, but who knows, maybe. I keep thinking that Fed's gonna go Jerome Powell and not try to overshoot anything, but it seems that, you know, probably, I'd rather than toss 50 bips out there for two months than 25 and say, "Yeah, we'll talk to you in two months." - Yeah, yeah, well, it's gonna be a damned if you do, damned if you don't scenario. I can tell you that. I don't think the market's gonna get excited either way because obviously a cut is priced in whether it's a quarter or a half a percent. But to my point, and we'll go over this in a moment here, we had a week Joltz report. Joltzz report tells the market it's a report that shares the data in regards to the number of job openings in the country. - Mm-hmm. - And so that data basically stirred the Fed futures contract in the, you know, stirred the pot there a little bit. And so the probability went from yesterday of a half a percent cut, 38% to today after this Joltz report to now a 45% probability of a half a percent cut. So pretty significant move in one day. You know, again, it's gonna continue to oscillate around as we get closer to September 18th. But I thought that was really interesting. But, you know, I 100% agree with your point on it. But I, like I said, I think we're damned if we do damned if we do it, you do a half a percent, you're gonna have a whole camp out there that says, uh-oh, the Fed sees problems in their crystal ball and therefore, you know, sell the market off. If you do a quarter percent, you're gonna get the other camp going. They didn't do enough too late to the game once again. And so, yeah, that's the problem with the rate cuts. It's, you know, as you and I have said a million times as we've discussed for months now this rate cut. So I will tell. - I think the election too. The election coming in could be enough, enough overhang for them to not do something more merely, just be like, look, it's gonna be volatile anyway. - Yeah. - Doesn't matter whether we either, you know, create more concern or don't do enough and create concern. Like you said, you know, maybe they just stick with, we're starting now and we're gonna continue to do it over the next, whatever, two years until numbers come into where we blah, blah, blah, blah. But I mean, Jolt's coming down. Remember this number? But, you know, darn near nine points something at one point and now we're close to 7.6 million in terms of jobs available. And this is what the Fed wanted. They wanted the, you know, the lookers versus the offerers to get closer in line and they're certainly getting that. - Well, July to be specific. July, there were 7.910 million job openings. The data we received today, the month of August, that number decreased down to 7.673 million job openings. So, you know, this matter of fact goes back to the lowest level since 2021. And don't forget, of course, we're gonna get on Friday, we're gonna get the non-form payroll numbers and tomorrow will be ADP, of course. So this showed that, you know, fewer job openings are available out there, which means, you know, a tighter jobs market. I mean, still, you can say wait a minute, there's 7.6 million job openings, you know, still a lot. But yeah, to your point, I remember 910 million, you know, remember joking about that. It's like, hey, you want a job that you can go find pretty much anything you want out there. - Yeah, I'm taking a little bit of class, so. - There you go. - Yeah, hopefully you're welding jobs. I am, yeah. - Oh, good for you. - Taking one with my son. - Yeah, that's what I've always wanted to do. - Through TMCC. Yeah, it's actually pretty cool. - Nice. - So, yeah, just started doing that on a couple of hours. - Still, I do, you know, my welding history is, let's just put it this way, I got a pair of coveralls that look like a piece of mozzarella cheese. (laughs) Yeah, I spent more time. - Had to get Oxy acetylene torch going on. - Yeah, yeah, yeah, more sparks landed on me than on the garage floor, so, yeah. But I love welding, that is a phenomenal trade, phenomenal trade to learn. All right, let me tell you what we have lined up for you after we go through a little bit more of the market recap, give you a lot already. Let me ask you this question, how do you, I'm not talking to Jason, I'm talking to all of you, how do you define a successful retirement? Jason, this has been something that's been rattling around my brain, and I'll share a story after I kind of get through this here. So, is a perfect retirement in your mind, is it a life whereby your investments provide more cashflow than you can spend? I can go out and spend like a drunken sailor, I got more money coming in than I know what to do with, and that for some defines a great retirement. Or, is it a life that allows you to volunteer, to travel, spend time with the magnet, or what I call the grandkids, of course. Now everyone, again, each and every one of you, probably has, if we sit you all down in a room, you're all gonna have a different definition as to the perfect retirement. Or a successful, I shouldn't say perfect, but successful. So, how do you create that retirement? How do you create that perfect/resuccessful retirement? So, tonight, what we're gonna do is, we're gonna go through and talk about this. And it's, folks, what we're gonna get into is hopefully, especially those of you that are younger, we're gonna make you realize that it is not all about the money, it really isn't. Yes, you have to have the money, you have to have the assets, you have to have the cashflow. But there is so much more that Jason and I see with our clients, there's so much more to life outside the scope of just money to define a successful retirement. And Jason and I had a discussion yesterday with one of our clients, and this is a prime example, very successful people in their retirement years, but not retired, one is, one isn't actually. And they said, you know what, we're selling everything, and we're just gonna rent for a while because we want the freedom to travel. I mean, Jason, don't you wish you had a dollar for every client that says, part of my rate, when Jason and I talk to them about their dreams and their goals, travel is just right at the top of the list for probably what, 85, 90% of them, right? Yeah, no, for sure, definitely is very high in the list of defining what success is for sure. Yeah, yeah, we're myself, if I was ready to retire tomorrow, that is the last thing in the world, that is at the bottom of my list. Matter of fact, it wouldn't even make my list, I hate traveling as Jason will those, I hate traveling. So, you know, this is what tonight's discussion is gonna be about, is try to get you to start thinking a little bit about what is that perfect retirement? You know, again, we're not gonna focus so much on the money, it'll be, you know, we'll have a little bit of talk about it, but I don't wanna focus tonight on the money side, I wanna focus more on the quality of life, and again, what entice you. There's a great story, believe us in the Wall Street Journal this morning, talking about how a lot of people are taking, or they're doing many retirements, as they're calling them, where they're taking, save a year, you know, I don't know how they do this, but they're taking a year of sabbatical from their jobs, and they're going off and traveling, and they're getting the taste of retirement. And I mean, these people are doing this all the way up into their 60s and 70s and stuff, and even younger, and they're finding that this kind of recharges they're battering, they're like, we really don't wanna retire, because, you know, if we can get away for a while and, you know, whatever it's a couple weeks, or, you know, in some cases, like I said, a year or so, these people are completely postponing retirement, matter of fact, it's not even in their vocabulary anymore. So, there's a lot of different ways that you can create that happiness, and, again, that'll be one of the things that we wanna discuss with you this evening. So, we will do that after we give you another, a little bit more detail of today's market activity, but first, she's got a lot of details. Kristen's now in the right-not-trophic center, how are we doing? Welcome back to the John Sanchez Show on Newstalk 780KOH with Jason Gunner, Sanchez Wealth Management, and once again, we had a 38-point gain on the Dow to close at 40,974, a decline of 52 on the Nasdaq, 0.30%, finishing at 17,084, and just a nine-point loss on the S&P 500, close the day at 5,520. All right, before we get to the commodity side of things, and a few more commentaries about the market, speaking of commentaries, let me tell you what we're doing tonight for you. 6.30 tonight, you still have time to join, 'cause this is a great thing about a webinar. We have a whole, I think, 500 people on this thing. So, we got plenty of room available for you if you wanna join us tonight. What are we talking about? Market volatility affecting your retirement. And Jason, I was joking this morning with Ross, so we were talking about the webinar. I said, you know, when you and I put this idea together about a month or so ago, one of the things, of course, that we were considering as far as the topic for September, 'cause we're gonna be doing these every month, by the way, is, of course, what a volatile month September is, and here we are, you know, just four days into it, and Lord knows the volatility has definitely reached levels that we haven't seen in quite some time. Oh, go back to the August, beginning of August, and then things settled out a little bit. So anyways, volatility is here, folks, and if you're not thinking about volatility and how it impacts your portfolio, please join us tonight, 'cause we're gonna go through a lot of great things with you. We're gonna talk about strategies to secure your financial future, even in these volatile markets. You're gonna learn about risk tolerance. How do you assess that? Because it's different for all of you. The importance of diversifying your investments, and I'm not talking, hey, I've got five stocks in my portfolio, so I'm diversified. Now, we're gonna go into much more detail. Talk about establishing safe withdrawal rates to make sure that your money lasts, and then, of course, one of my favorite areas that we're gonna be discussing, the contingency plan for those unexpected financial surprises, which, again, do some ideal with these. Almost every day with clients, something pops up where they need some money and need help with this or need help with that, and that's what we love doing to help our clients. So we're gonna go through a lot. It starts tonight at 6.30. All you need to do is go to our website at SanchezWealthManagement.com, and sign up. It's really that simple. We'll be on for about an hour and then go for a Q&A. I don't know if the Q&A will start before the hour is up, or if not, we'll stay on here as long as we need to talk to you and help you out. So it's really gonna be a great time. We'd love these webinars, like I said, our goals to get you one of these at least once a month, 'cause you can just sit at home, the comfort of your home or out in the car, wherever you may be, and join us and see what our, you know, smiling, handsome faces, and you look great. - Yeah. - By the way, your hair color looks really good, by the way. - Thank you, I appreciate that. - Yeah, really good. - I just got it yesterday, so I knew it was webinar. - I started growing the goatee over the weekend, three days. - You could probably do it. - I checked it out yesterday, I sold it. - Really? - Yeah, I shaved it off, it sold it. Yeah, I should. - You know, you probably could do it in three days. - I can, I literally can't. - Long time. - I don't look in, but just so much grease coming in. - Yeah, that's a good thing. - You got to embrace the grays. - That's what my wife says, yeah. - Seriously. - Yeah. - How many of you span? - I don't, yeah. - 12, so it's great. - Yeah, I need it, right? - When you're Mexican, you get like, you're like, people's brown, it really stales out. (laughing) I tell people I have like, 18 year old, they're like, what? (laughing) If you adapt them when you're six. - Yeah, there you go. - But yeah, no, it's good, you got to embrace it. The grays are a good day. And we've had, I mean, quite a few people signing up, probably because of the volatility recently, it's gone through the day. - Yeah, it's time we couldn't be better. - Right. - Yeah, time we couldn't be better. It's gonna be a great time. So, again, just go to the website, sandchillswealthmanagement.com, and sign up, no charge to you, and again, we'll spend an hour plus with you this evening. All right, now, let's get back to the market real quickly, Jason, and then we're gonna get into, again, our topic this evening, which is gonna be a lot of fun to talk about, another retirement talk, which is, again, how do you define a successful retirement? So, let's talk about NVIDIA. Obviously, yesterday, you weren't on the show, the boys were, and yesterday was a major plunge in NVIDIA, and then, it seemed like today, no one was talking about the OJ summons that they received, and then, of course, everybody now just absolutely falling out of space with the semi-conductors, not just NVIDIA. So, it's amazing what a difference makes again today. It only fell $1.79, 1.7% lost in 106.21. Let's talk about NVIDIA. - Yeah, it was off its lows. There was some comments after the close that they did refute claims about getting a DOJ subpoena. So, we'll see how that goes. On other data point yesterday, it was the largest drawdown in semis since 2020. So, in terms of a one-day move in that space. So, those are oftentimes can be capitulatory, but people are starting to ask more questions now about the AI bubble. Do I think it's a bubble? Do we think it's a bubble? And I say, near term, it could be, but it doesn't mean that if you're a trading type, sure, but longer term, I think we're in the early, early innings of the advancements in healthcare, robotics, autonomy, et cetera, data, right? So, you know, sure, you can be a trader and try to trade around something, but ultimately a longer term that benefits across consumer staples and some of those other areas. Is the trade in semis over maybe, right? Like, you're pulling forward a lot of expectations on a lot of these things. And the thing that makes me nervous is at some point, if you're a meta or a Google or someone along those lines, if they even make a nuanced comment about slowing of spending because of a slowing consumer, those things are gonna get destroyed. So, that's the part is, you know, know that if you're holding that name, it will be subject and that hasn't happened yet. That's probably the time you buy it, but, you know, that's what I worry about. - But let's keep in mind, I mean, truly what percent of their revenue is correlated to the consumer, right? - Probably not that much, right? - Yeah, there was very much though, but it's gonna be the meta's, the Googles, those guys, they say Microsoft says, you know, we wanna see what type of, you know, longer term growth we're gonna, I mean, and they're incentivized to talk this too, because part of their stock performance is a function of goals and promises too. But I think that's a little bit of what we're seeing here. And as I mentioned, the charts are not favorable right now to, you know, excessive risk taking and not in a crash, blah, blah, blah. Just more so overbought that move off the August lows, you know, people thought the end was coming and then absolutely got run over for three weeks. And now it's just more of the talk of, oh, the yen's moving and blah, blah, blah, blah. So the volatility, VIX has stayed north of 20. Like this whole, I mean, it can't down to, you know, high 17s, even when things were great. So now we're back north of 20 again. This market is certainly pricing in another leg of some kind, whether it happens, I hope not. But there's certainly more risk priced into at least forward expectations than there were a month and a half. - Absolutely, absolutely. All right, so you're up to date on the market real quickly on the commodity side. About a 1.8% loss on oil. I think the big thing here, Jason, we broke $70 a barrel today, 69.13. So watch the prices come down. Hopefully they stay a little bit lower there for a bit. Feels good at the pump. Gold prices up, pretty quiet today, up $3, 2005, 26, and down eight basis points on the 10 year to yield a 377. All right, so how do you create that perfect retirement? We're gonna help you when we come back. Let's turn it over to Greg Niff. He's got news traffic on weather. Hey, Greg. Welcome back to the John Sanchez showing new stock 780KOH, which Jason got. Finished up 38 on the Dow, lost 52 on the NASDAQ and a nine point decline on the S&P 500. Well, I'm seeing a lot of webinars, signups coming in, Jason. Once again, folks, we'll talk about it one more time here. Are you prepared for the ups and downs of this market volatility as you plan for your retirement? The answer is no. Please join us this evening. 6.30 p.m. for our free webinar, discussing all kinds of great things about market volatility, the importance of diversification, how much should you safely withdraw from your investments? How to create and plan for that unexpected event and so much more. It'll be at 6.30 tonight, as I said. Just go to our website at Sanchez, wealthmanagement.com, click on the upcoming events, and just sign up. It's really that simple. 6.30 to 7.30 this evening. And I got a favorite ask, all of you, by the way, that have signed up for this. Be interactive with us. Jason and I, we get to see and talk to each other every single day. We want to talk to you. We want to help you in your personal situation. And of course, anybody that attends the events will be eligible for a free financial consultation with Jason and myself. And that's as part of the little give me that we give back to you for attending the webinar. So we will be available on a one-on-one. But if there's anything that you think that other people would know about or you have a burning question, please be interactive with us on the webinar this evening. We love that, Reggie. Yeah, absolutely. I try to confuse us. Try to trick us. Try to get us for a-- I like that. Winners-- I don't know how much we have left at us at 6.30 in life. Ask me a question that you don't think I can answer. That would be fun. But no, it'll be good. We definitely like doing it. Yeah, I started watching the market at 3.30 this morning because after yesterday, it's like, I just did not sleep last night. So yeah, we're going to pump up the coffee this evening before the show or before the webinar. I promise you that. I know. I know you laugh happy. It's my craziness. How is that before I hear you from the sea? Yeah, no, you're not far behind. You're not far behind. All right, let's get down to our topic tonight. Creating the perfect retirement. And as I said at the beginning of the show, this is the most important thing to take away. Each and every one of you have a different definition of a perfect retirement. So we're going to go through some of the things that you should be thinking about to help you answer that question. Because again, it's way beyond the money. Now, we are going to start with the financial side of things first. But remember, we see this each and every day with our clients. It's not the amount of money they have. It's not the cash flow, it's none of that. It's the quality of life that they've created for themselves in retirement. So Jason, go ahead and let's kick us off on point number one, the financial planning side of things. How important this is, because you got to have money no matter what. Yeah, and I mean, we talk about this all the time, obviously. But the point of contributing to 401(k) is contributing to IRAs. Contributing to anything that has compounding growth the earlier you start, the better. Just given forward returns are expected to be positive in most cases. Budgeting, right? Those are things that everyone should be paying attention to. It's a heck of a lot easier to learn how to budget before you're in retirement than to do it after the fact. And that's a part of what our role tends to lead to, help people design budgets and give them a sense of how to start. Can I interrupt you real quick on that point? I want to publicly compliment you, because you were instrumental in our firm, purchasing a very powerful financial planning software package that you are just an advocate of, this program better than anybody. And I'm seeing this a lot with our clients. How impressed I am that they're paying a lot of attention to the budgeting side of things, because of you, and the emphasis of the software and stuff. So it's amazing. And again, the confidence Jason, I just gave myself goosebumps, the confidence that I hear coming from these clients, they're like, no, I spent this amount on this category, this amount on that expense, I'm like, holy moly, you know, it's like, and they just have like an era of confidence. Like the people we met with yesterday, our clients yesterday, they just had this era of confidence about them when they know their budget, and it's phenomenal. So kudos to you for pushing someone with them and so many people. That's the hardest, I mean, you know, ultimately stress is born from unknown, right? If you don't have an idea of what your costs are, what is, you know, like you mentioned with the risk system that you've used as well with, you know, variable and fixed expenses, right? Those are different. They're not the same thing. We joke and say, look, you know, I'll be fine when I retire, I'm doing fine now. Well, what you do now is whatever you don't save, you spend. And so you feel like you're fine. And that may not be the case as income changes when retirement gets closer. On the flip side, you were mentioning earlier as far as the planning is concerned and money's not the answer. Very infrequently is the cash flow from client accounts and a focus. It's, you know, I find more often than not, people do have more money than they think they have and they also are not needing to touch the bulk of their accounts because they've done a good job saving. And it's just more of us prodding to be like, hey, what are you going to do, right? Go ahead and do something, right? Right. And so, you know, and this is an art, not a science when it comes to that sort of ambiguous word of retirement, right? It's completely different for every person. You joke like, I'm a workaholic. I'll probably work until I drop because I like it, but I want a job where, if I decide today, I don't want to come in here. I don't like it anymore. I can just walk away. And that sounds fun to me in retirement, right? And so those are things that, you know, maybe you don't want to retire here or want to work. You're like, I absolutely never want to do that. Once I retire, I'm done. It is completely different for everybody. Well, you and I are blessed because we absolutely love what we do. We love our clients and we have a passion for what we do. And it, you know, are the days long yet? Is it work? Yes and no, but it's beyond gratification that anybody can expect. And all I hope and pray for those of you that are young, and I try to emphasize this to my kids, and I know you do too, is find a career that you love. Because when you can say, I don't really want to retire because I love what I do so much, that's when you know you found the right career. So you and I are truly blessed. Or anybody that can say that about their jobs. All right, real quickly, finish up on the financial planning side of it. - Yeah, I think the emergency fund is probably the part that I tend to focus on first. Sort of my cup spilleth over. Once you've decided what that emergency fund amount is, you can Google it as to what you think if it's three to six months of expenses or income, or I always go back to its pillow money. Whatever amount feels good to you, that is big enough that can absorb a water heater breaking or a major car repair or something that doesn't require you to go dip into your retirement, then that's really what I view as that emergency fund and everything starts from there. Once you have a comfy pillow amount and you have a good savings buffer, then you're starting to think about what are the other areas that I can see. - And the narrow confidence comes about you also. - For sure, for sure. All right, last point. - I think investment strategy will differ based on the folks that are using it, whether it's income focused or risk focused. Clearly, an advisor can help you decide on those types of things both on the budget side, but also on the allocation side. It's easy to say you can do it yourself, and I don't just say that 'cause that's what we do. It is much more difficult when it comes down to reality and you are the one who's on the hook for your success or failure in retirement, merely because of investment decisions that you may just unknowingly be naive to and have more or less risk than you thought you had when you started. - Absolutely. All right, we'll come back with our second point in regards to how do we live a successful retirement? But first, let's wrap it up with Kristin Snow with right now at Traffic Center, hey, Kristin? Welcome back to the John Sanchez Show on News Talk 780K, which was Jason Scott. We're talking about again, how to create the perfect retirement. So we're gonna hustle here. We got a lot of points to get to and on a short amount of time as always. So the healthcare and the wellness is our second point. Make sure that you have a comprehensive healthcare package. That includes Medicare, private plans, things like gap insurance for dental, vision, long-term care, right? You gotta be healthy. You don't want to be bogged down with any unnecessary medical costs to throw off your budget. Other way, we have preventative care, right? Stay on top of your health with regular checkups, fitness routines, healthy eating habits. Let me tell you, I don't know about you, but when I'm healthy, I am the happiest, confident, et cetera. And we see that with our clients also. Stay active. This is the other successful key, physical activity, mental engagement, reduce the risk of those chronic diseases and enhance your life both physically and mentally. And speaking of mentally and the mental health, practice a little quiet time, a little meditation, a little stress relieving activities. Go for walks. Spend some time by yourself and just reflect back on your life. I find the older that I get, the more I do that, and the more I look back on my kids growing up and different things that have happened in my life. And it just gives me an incredible sense of peace. Our third point is the lifestyle planning. We discuss this a lot, and this is again, very interesting and very helpful. Hobbies and interest. Jason was at Sandy's taking a welding class. I just taught myself how to fly a drone, right? You gotta have things outside of work to stimulate you. Developer, continue your hobbies, travel, social activities. Those should bring you some incredible feelings of joy and fulfillment. Down sizing. Hey, you know what, I don't know about you. The older I get, I kinda like things a little more simple. Consider moving to a smaller home or community designed for retirees to reduce those expenses and bottom lines simplify your life. Location, choose that place to retire that suits your lifestyle, you know, whether you wanna be a snowbird or whatever it is. And then volunteering or part-time work. Again, maybe you don't need it financially for the part-time work, but you need it for the mental stimulus. You wanna stay active, you wanna be involved with people. And especially volunteering if you're retired with a skill set. Man, give backs. One of my favorite organizations is SCORE here locally. And you know, again, go back and mentor business owners and kids and things like that. It is so absolutely rewarding. Jason, take on points four and five. Yeah, I think this links right into it in social connections, right? Family, friends, you know, planning gatherings, setting up, having things to look forward to in retirement, community involvement, as you'd mentioned. These are, you know, like you always stress, give yourself a reason to get out of bed in the morning. And then on the legacy planning side, right? You wanna work to make sure that you've got a trust in place, wills. Make sure that the beneficiaries are correct, both on the primary and contingent side for IRAs and other assets. And then any philanthropy, even your time is a thing you can donate. It doesn't always have to be money. But if you're passionate about certain causes, you know, those are things, you know, there's donor advised funds that you think-- I was gonna say that, yeah. We're able to do here for folks. So it's, you know, there's many different things that you should be thinking about as retirement gets closer. And you deciding what retirement goals you want for yourself. Absolutely. Yeah, I think you brought up a good point. As far as the philanthropy is concerned, you can do it financially, you can do it time, combination, whatever excites you and gives you that great passion. Speaking of passion, we're gonna wrap it up with our six point, which is the mindset for retirement. I cannot emphasize this enough. I know Jason echoes my comments. Define your purpose. He just mentioned our saying that we have in our firm, which is, what is your reason for getting out of bed every day? So reflect back on what gives you life meaning. Incorporate this into your daily routine, whether it's prayer, physical activity, being with loved ones, you know, calling up that friend. I mean, Jason, I try to do this more and more the older I get. Call friends that I haven't talked to in a while. Just call them out of blue. Hey, thinking about you, you know, I love you lots. You know, there's nothing wrong with a man telling another man, I love you. You know, I told Jason and I love them all the time. It's just, you know, what's your purpose in life and give back and be part of that? Stay flexible, be open to changes in your plans. None of this is set in concrete. You know, whether it's for health reasons or lifestyle reasons, stay flexible, kind of be like Gumby. And then lastly, gratitude and reflection. Take some time, please, to appreciate your accomplishments. You know, we all forget about bad things that have happened, hopefully. Think about the great things that you've accomplished. If you have children, grandchildren, that to me is the greatest accomplishment in life. They are God's angels. You hope to create them and enjoy them and be thankful that you have them in your life. And again, now I'm getting emotional. Let me stop here. But just, you know, again, just give thanks for the great things that you have, the great country that we live in, your friends, your family, et cetera. And life will be great. Jason, I look forward to seeing you all tonight. It's a 630 in our webinar. Again, got time to sign up? I gotta do Sanchez Wealth Management.com. God bless, have a great evening. Chris C.J. - This program was sponsored by Sanchez Wealth Management. The material in this program was intended as general information only and should not be taken as specific investment tax or legal advice. None of the information on this broadcast was intended to be a solicitation for the purchase or sale of any security. Further information is available by contacting John at Sanchezwealthmanagement.com or 775-800-1801. John Sanchez offers securities and advisory services through independent financial group LLC, a registered broker, dealer, and investment advisor. Remember FINRA SIPC. Securities offered only in states John Sanchez is registered in. Sanchez Wealth Management LLC and independent financial group LLC are unaffiliated entities. - When you need meal time inspiration, it's worth shopping king supers for thousands of appetizing ingredients that inspire countless mouth-watering meals. And no matter what tasty choice you make, you'll enjoy our everyday low prices, plus extra ways to save, like digital coupons worth over $600 each week and up to $1 off per gallon at the pump with points so you can get big flavors and big savings, king supers, fresh for everyone, fuel restrictions apply.