On this week’s episode of Safe Money with Gerry James, we explain why now could be the best time to implement a defensive investing strategy. Plus, Gerry shares retirement tips for tax season and explains how people can retire today on $750,000 or less.

Follow Us on Facebook

Call Gerry today at (904) 704-2997

 

4.14.23: Audio automatically transcribed by Sonix

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

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

Producer:
Welcome to Safe Money with Gerry James. Get ready for a full hour of financial information and economic news you can't afford to miss. Gerry works hard each and every day to help hard working Americans like you navigate challenges and reach the financial freedom they desire and deserve. So now let's start the show. Here's Gerry James.

Producer:
Hi, everybody. Welcome to Safe Money with Gerry James, our second episode. Thank you so much for checking out the show and we are thrilled to bring you today's topic and information How to establish tax efficient income streams and why now could be the best time of any for fixed indexed annuities. April, of course synonymous with tax season. So Gerry, why not discuss tax efficient income streams? Right. All right. Let me say hello to the man of the hour, the financial expert himself. He's as handsome as Kevin Costner. Gerry James. How are you, Gerry? Well, thank you.

Gerry James:
Very much for that, Jim, and appreciate the introduction. And financial solvency is what we really need to pay attention to now because the economic engine within our country is in chaos and safe. Money management is what I do and what I do best. And hopefully people that are listening get an opportunity to get some ideas and and contact me and we'll show them how to protect their money.

Producer:
Well, again, it's great to be here with you, Gerry, and this episode, too. So if you haven't done so already, please subscribe to the podcast Apple, Google, Spotify or wherever you get your podcasts. And by the way, give Gerry a call today at (904) 349-7977 or visit Safe Money With Gerry James again that phone number (904) 349-7977. All right coming up on today's show, why now could be the best time to invest in fixed indexed annuities. Plus tax efficient strategies and how you can safely retire with 750 K or less in the bank. We'll discuss. But before we get things going, Gerry, let's kick off this week's show with this week's Quote of the week.

Producer:
And now for some financial wisdom, it's time for the quote of the week.

Producer:
And our quote of the week. It comes from someone unknown. It's someone we don't know who said this quote, but it is appropriate, this being April tax season. Spring. And what is it, April Flowers, right? Is that what they say? April Flowers, maybe. Yes. Mayflower. Yeah, of course. Um, the quote again from Unknown says, Isn't it appropriate that tax month begins with April Fool's Day and ends with cries of Mayday again? Quote, Isn't it appropriate that tax month begins with April Fool's Day and ends with the cries of mayday as again from unknown?

Gerry James:
Yeah, we're working for months and change now for our federal government before we ever start working for ourselves. The bigger our government gets, the more we will work for it. And that is why I've always advocated for a small, efficient government. It's why I ran for office and why I run for office again as state Senate District seven, because I believe in a small government, a small footprint, if you will, the behemoth we have for government now at all levels is outlandish. It's not what our founders ever meant for our country or state to be. Um, we need a small footprint in government and an efficient footprint in government and efficiency. And the management of our resources are extremely important. And with your own personal finances and with government, I know it's idealistic, but we certainly need to try to adhere to those idealistic ideals of the Constitution, as it were.

Producer:
Yeah, and you know, you can help people out financially with their standing, even if it's tax season or not. Some people. Gerry It's amazing. They're nervous. They're intimidated by meeting a financial advisor or professional. But we do want to help people ease those concerns. And in the initial consultations you'll have with people, you'll answer these type of questions. What is a successful. Retirement. Look for you. What are you doing? Who are you doing it with? What are you looking to accomplish? What are your specific goals? So again, those are specific things that Gerry will help you with in that consultation. So again, visit savemoney with Gerry james.com. All right, let's get the show started today talking about tax retirement strategies for the tax season. And don't forget, Tax Day is Tuesday, this upcoming Tuesday, April 18th, 2023. Just want to give everybody a quick reminder of that. The tax day kind of shifts around, give or take a couple of days. But again, this year it is tax day, Tuesday, this upcoming Tuesday, April 18th, 2023. In fact, this show airing on Wfoy on Monday, Tax Day is tomorrow.

Gerry James:
Yep. Tax day is tomorrow. And. Hopefully you have everything all set in that regard and we can show you how to either avoid taxes altogether through certain financial streams of income, or we can certainly show you how to defer them and pay less. So that's what I do. And there are strategies that I put into place and how to do it that you can retire with up to 3,340% more retirement income, money in retirement and income stream is really where you want to focus. Once you get five years from retirement or five years after retirement, those are your critical years. And so that is really what I focus on with people that are close to retirement, because in those two segments of five years before and five years after, that can either make or wreck your retirement and depending on how much you have saved. So I think it's critical and of critical importance to see somebody like myself, an income expert, and how to manage that income retirement fund for yourself so that you have money for the rest of your life.

Producer:
So talking about, you know, the tax strategies and trying to accomplish the goals that you just were talking about right there. There are really only two types of tax free investments. Gerry Right. Available to Americans. And you can help people with both Roth IRAs and life insurance, right?

Gerry James:
Yeah. And you know, Roth IRAs, that's you're putting after tax money in them and letting them grow and letting that account grow and life insurance, whole life indexed universal life and whole life insurance. There are ways to fund those accounts. Where you not only have a legacy policy through life insurance for your family to leave. To your beneficiaries. But you can also create a. Tax free income stream for the rest of your life through loans, which is a non taxable. Occurrence in your life insurance policy. It's not very complex if you understand the mechanism and how I do it and how the insurance companies work with me to do it. Um, and it's. You know, something that when it's laid out, is very, very efficient. And it's a way that many of the very wealthy in this country and worldwide avoid tax altogether. Through the loan system in their account. It's almost like you're banking on yourself. You can you can use these loans to buy things such as cars or, you know, if you have enough in your life insurance account to purchase home and pay yourself back.

Gerry James:
You can also fund colleges. I have set up programs where instead of the traditional college funding that, you know, parents will put away for their young young people to go to college. College right now is unbelievably expensive. The cost of colleges just keeps going up. But if they start putting away money when they're five and eight years old for their young one, by the time they're 18, they have enough money to pay for college. And then if they choose, they can pay for that college out of that, out of that policy. And then if they choose to keep that account solvent, then they can pay themselves back and actually start their whole life through that index universal life policy or whole life policy. So that's kind of the thing I do. We try to work within the system legally to avoid as many as much tax as we can and try to create wealth. And that's what I've done for the past dozen or more years. And and I've done that for family members and myself included. So that's how I work.

Producer:
You know, it's kind of like a 401 K, if you will, for, well, it's not like it is pretty much like a 401 K for for kids who want to go to college one day. I mean, that's setting up your your college plan. That's the version of your own 401. K retirement.

Gerry James:
Yeah, that's correct. And it's the beauty of it is, is when you start contributing to this plan within a life insurance policy, which the cost of insurance for a child is extremely low. So you fund the policy and you will have a life life policy on the child. But nevertheless, that cost of insurance is extremely low. Then you start funding the mechanism of that whole index universal life policy, and then you have something called compounding interest that works on itself and starts building account value. And by the time that that child reaches college age and he needs money for college, then you take loans out against that. So that's one of the ways that we do college funding and it's a, you know, tax free occurrence. And you're not burdening your child or your child's not burdened with paying back a massive loan from from a college fund for the first 20 years of their. I've seen I've seen people into their 40s still paying their college loans back.

Producer:
Sure yeah it's yeah. Oh yeah there's there's people who celebrate on social media Gerry that they just paid off their final student loan so again Gerry can help you out with all of this. Call them 904 3497977. Again that number (904) 349-7977. All right. Quick reminder to subscribe to our show in podcast form, Apple, Google, Spotify or wherever you get your podcasts and check out the YouTube page as well. We're on YouTube.com. Visit YouTube.com and search. Save money with Gerry James. All right. We're bumping up against our first break. Coming up, is now the best time to invest in fixed indexed annuities? Could be? We'll discuss. And in the meantime, check out Gerry's websites as well. Save money with Gerry james.com and SafeMoneyManager.com to schedule your free no obligation consultation We'll be right back.

Producer:
You're listening to save money with Gerry James. To schedule your free no obligation consultation with Gerry visit save money with Gerry james.com has come..

Producer:
Are you concerned about market volatility, rising taxes from the Biden administration, and how it all could affect your financial future? Then tune in to save money with Gerri James to learn how you can protect and grow your hard earned money. Save money with Gerri James Mondays and Wednesdays at 6 p.m. right here on 102.1 FM. Wfoy. Protect your hard earned money today and get started on your own personal pension plan at SafeMoneyWithGerryJames.com. Like what you're hearing. Subscribe to the podcast and listen to Save Money with Gerry James anytime, anywhere.

Producer:
Welcome back to this week's edition of Save Money with Gerry James. If you're a new listener, thanks a lot. We do appreciate it. And make sure you check out our podcast catalog available on Apple, Google, Spotify or wherever you get your podcasts. Good stuff, Gerry. In that first segment, one thing that we need to touch on, the five reasons you should consider a Roth conversion. That's part of our tax strategies today, of course, tax season, talking about taxes and we talked about two types of tax free investments available to Americans in segment one, Roth IRAs and life insurance. And the five reasons you should consider a Roth conversion tax free accumulation of wealth, tax free income in retirement, no required minimum distributions. So you take what you want when you want protection from future tax increases. And Gerry, the final one, leave a tax free benefit to your beneficiaries.

Gerry James:
Yeah, and that's important. And you know, you can do that with a couple of different mechanisms, but there's no better mechanism to do that with than whole life insurance or indexed universal life insurance. That is a tax free benefit, even if it's enough just to do final expense for yourself and or your spouse. You don't want to leave your children with the burden of having to scramble to basically do your final expenses, burial and so on. So there's a lot to that and I can talk to anybody about those mechanisms and how to efficiently and affordably fund those mechanisms so that they don't leave any burden to their beneficiaries and then in a lot of cases, leave a great legacy for yourself to your children and get them going and started and in some cases continue going so that they can also leave a legacy for their children. That's the American way. And that's that's what I try to do for people and with people and do financial planning. That is that's my goal so that people have a life to enjoy. Because without certain resources, it's very difficult for people.

Producer:
Well, you say that's the American way. Isn't that kind of like the American dream now, too? Can I argue that generational wealth is now the new American dream, especially for younger people my age, a little bit older people in their 30s, their 40s. I mean, when you really think about the white picket fence and and all the older the the older sayings, stereotypes about the American dream, I'm thinking now the new American dream is, as you said, leaving a legacy for your kids and that generational wealth.

Gerry James:
Yeah, I agree with that. In you know that's what a lot of good parents and grandparents are trying to do for their children and grandchildren is leave them a good head start because it's it's difficult, not as difficult as it was in the, you know, 1900s and during World War one and two. And and those parents and grandparents left us a gift of freedom. And we've been fortunate not to get any of these major conflicts in the last, you know, 40 plus years. Um, but nevertheless, you know, you want to leave your children responsibly a, a head start and to try to make it as easy as possible for them to, to, you know, live comfortably.

Producer:
Yeah. And again, the rising cost of living and taxes going up, those are things that unfortunately they are. But a lot of times aren't in your control. But what is in your control? And before you move on with the show, I just want to make this point, is that you can meet with Gerry and he can help you analyze your financial situations, cut unnecessary costs in your IRA 401. K or any other retirement savings account help you with Social Security planning with your Medicare. Remember, it's about you. It's your money. It matters to you. So if it matters to you, it matters to Gerry. So again, safe money manager.com or visit save money with Gerry james.com or call Gerry today (904) 349-7977. All right moving on with the show Gerry how to retire today on $750,000 or less.

Gerry James:
Yeah. So we do that with income planning and I'm an income planning expert. Um, and in a lot of cases. People don't even have that much money. But what I do is I plan out an income stream that will last them the rest of their life with what they have. Um, certainly we try to accumulate as much money in their account before they choose to retire as possible. But the critical time, as I said earlier in the show, is five years before you retire and five years after. Because if you don't get those two segments right in your retirement, it can actually devastate your retirement account and the income stream in your account. So a lot of people come to see me and, you know, the stock market is so volatile, they have a lot of money invested in their 401. And IRA, and it's tied into the market. And in certain stocks, when that market crashes, their account crashes and you simply just don't have time to make that money up after, you know, 55, 60, 65 years old to recover so that your account is solvent enough where you can retire comfortably. I try to avoid that at all cost. I do that through index annuities and you're going to make a reasonable return from the investments that I put you in with annuities. But at the same time I call it zero is my hero. You have no chance to lose money when a market crash happens. If a market crash happens, folks, I think that we're in for some solemn times where we're going to see a market downturn such as we haven't seen in quite a while. There's all the indicators out there. And I think if anybody with common sense can take a look at that.

Gerry James:
Well, I have a mechanism and have used this mechanism for the last two down cycles to protect people's wealth, to protect people's money. And when the economy goes to 20, 30, 40%, you know, down or the market goes 20, 34%, 30, 40% down, you lose nothing in the mechanism that I create for you and puts you into the financials. Final financial positions I put you into. You will make money and good money when the things go up, such as bonds and markets or whatever you're allocated into. But when the market is down, you lose nothing. That's why I call it zero is my hero. You have a zero floor guarantee that you can never lose one dime of your principal. So if you put $100,000 in there and then you make $20,000 on that, the the following year, that's your value. That's your income value base. That is your income account base. You will never your account will never go below $120,000. So when you make it, you keep it. Um, so that's, that's how I invest money. It's, it's, you know, I think Warren Buffett said I'm not looking to, to jump over ten foot fences. I'm just looking to cross one foot fences at a time. And that's how we invested and that's it's wealth accumulation. It's that's, that's how you do it and it's how you build your account, your your object, especially when you get to be 50, 55, 60, 65 years old is not to lose a dime. You want to keep what you've accumulated in those years of those earlier years and not lose one penny. And I can help you do that.

Producer:
Yet again. Contact Gerry today (904) 349-7977. Again (904) 349-7977. Or visit savemoney manager.com or save money with Gerry james.com. If this is something on the show today the things that we're talking about if that makes sense to you all of those things please give Gerry a call. He would love to meet with you, help out our listeners, feel more confident about their retirement and their future in general. Gerry wants to take the stress out of retirement planning, allow him to do so again. 904. His phone number 3497977. And a quick reminder, you can listen to the show every Monday and Wednesday on Newstalk 102.1 w wfoy again every Monday. And then again a replay on Wednesday at 6 p.m.. Safe Money with Gerry James. We're back after this.

Producer:
You're listening to Safe Money with Gerry James.

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

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

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

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

Producer:
So you've got to pay attention to your bill. Each month, suppliers can raise rates after any initial contract period runs out. A good resource to find third party providers for your address is the website Choose Energy Comm. So could you save by shopping around for a new utility provider? That's a key question to consider and it's one of the 23 retirement cost cutters for 2023 with the Retirement.Radio Network powered by AmeriLife. I'm Matt McClure. Fixed annuities, including multiyear guaranteed rate annuities, are not designed for short term investments and may be subject to restrictions, fees and surrender charges as described in the annuity. Contract guarantees are backed by the financial strength and claims paying ability of the issuer.

Producer:
You're listening to Safe Money with Gerry James. And now back to the show.

Producer:
Welcome back. Inside this week's edition of Safe Money with Gerry James. Coming up, details about why fixed indexed annuities can provide a financial roadmap for 2023. You just heard that report from Matt McClure about shopping for utilities, a vignette. It's part of our 23 cost cutters of 2023. That's a tradable report that's available when you book a free consultation with Gerry. The report is packed with tips and ideas for saving money in our current economic climate. And we're also giving away another tradable report. Our most recent to date. It details the bank failure from about a month ago and what it means for consumers and retirees. So book a complimentary consultation with Gerry. Get these tradable reports with an abundance of information and get started on building and optimizing your financial plans for retirement. Again, safe money manager.com to book your free no obligation consultation and a quick important reminder this show it comes out on a monday it's you're listening to this on the radio or you could be listening on the podcast side anytime anywhere. But if you're listening to this on the radio on Monday, tomorrow is Tax day, Tuesday, April 18th, 2023. If you're listening to this on Wednesday, tax day already past Tuesday, April 18th, 2023. Now, if this is important, if taxpayers cannot submit their returns in time, they can request an extension from the IRS, which will grant them extra time to complete the process until October 16th. However, any outstanding taxes due must be paid by Tuesday, April 18th. All right. Just that quick reminder. Get that out of the way, Gerry. Let's add some of your wisdom into this segment and discuss your financial tip of the week.

Gerry James:
Well, it's not whether you're right or wrong when you're investing, but it's how much money you make when you're right and how much money you lose when you're wrong. So I try to take the loss factor out of investing, and I do that with fixed indexed annuities, fixed annuities, immediate annuities. There's five different kinds of annuities. I don't do much with variable annuities just because there is a chance that you can lose money with variable annuities. A very good chance. And I have a lot of variable annuities out there that have lost a lot of money in their account. And unfortunately, once that money is gone, it's very difficult to re gain those account values, especially when you get older. You just don't have time. So we try to take the losses off, off the table and do that also with indexed universal life accounts as well through whole life policies and indexed universal life insurance policies where we have a zero floor, that means you can lose nothing and you you'll make reasonable gains. As the account value builds. So its compounding interest and that's what we work on.

Producer:
Yeah. And again, we want our listeners and clients to understand current events that are happening in the economy and financial system. So if you have any questions or want to prepare for the future and what might come, and if you're looking to reduce your investment risk during times like these, please visit the website. SafeMoneyManager.com save money with Gerry james.com or call call Gerry today (904) 349-7977. He helps his clients and listeners make informed financial decisions That's really what it's all about and make choices that leave them their money safe and secure. Am I right, Gerry?

Gerry James:
Yeah, absolutely. Um, you know, I had a client recently come to me to for a review with his grandchildren and children who he was leaving money to. He invested well throughout his life and wanted to let his grandchildren and children know me and know where I've invested their money. And I started pulling up his portfolio and showing them how everything is outside of the market that I've invested for him and that it's safe. And his oldest child asked me a question, Why wouldn't everybody do this? You know that they have not they have no chance of losing money, but they have, you know, upside gains when, you know, their indexes perform. And I said, Well, that's a really good question. Um, one of the biggest reasons for that question is when you put money in with brokers, there are fees attached to that money. So if you have a $100,000 in a brokerage account, for instance, in your charged a percent and a half for that brokerage account annually to for him to manage that brokerage account, your advisor, that's $1,500 a year every year it's coming out of that account whether you you win or you lose. So with an indexed annuity, there are no fees. With an immediate annuity, there are no fees.

Gerry James:
Right now I'm getting up to 5.5% return on on an immediate annuity on a on a fixed annuity. So and you know, these annuities come with, you know, sometimes three, five, seven, ten year contracts. But we lock that interest rate in for you and you'll be able to access that. And when that contract is done, you can walk away with all of that money. And it's the same with a fixed indexed annuity. You when your contract is over, you walk away with all of it. Your money's not locked up either. Um, you have access to your money as needed. You can take a 10% annual free withdrawal on any amount of money that you invest over $50,000. So if you need money from your account and you say put $100,000 in there, you can, and it's a ten year contract, you can put you can withdraw 10% a year from that contract for any any any of the years that you have that contracts in force. So your money is not locked up. And, you know, like a lot of people think, you don't get penalized for withdrawing 10% of that money and it's your money and you should be able to do with it what you want.

Producer:
That's exactly right. Great stuff there, Gerry. Coming up next, why is now the best time for fixed indexed annuities? This is Safe Money with Gerry James.

Producer:
You're listening to Save Money with Gerry James. To schedule your free no obligation consultation with Gerry visit save money with Gerry james.com. Are you concerned about market volatility, rising taxes from the Biden administration and how it all could affect your financial future? Then tune in to save money with Gerry James to learn how you can protect and grow your hard earned money. Save money with Gerry James Mondays and Wednesdays at 6 p.m. right here on 102.1 FM. Wfoy. Protect your hard earned money today and get started on your own personal pension plan at SafeMoneyWithGerryJames.com.

Producer:
Welcome back to this week's edition of Safe Money with Gerry James. Thanks for making Gerry and I a part of your weekend. Hey, don't forget to check out our YouTube page. Visit YouTube.com and search Safe Money with Gerry James. Okay. By the way, one more thing to go back in the audio archives. I can't keep I can't stop telling people that It's very important because if you missed any part of today's show or last week's episode, our first episode, go back in the audio archives on the podcast side and you can listen any time, any place Apple, Google, Spotify or of course, wherever you get your podcasts.

Producer:
It's this week in history.

Producer:
All right. This week in history, Gerry is very sports oriented, very sports oriented, which I'm glad because for those who don't know, I don't I'm not sure if you touched on it last week, but your son, not only do you have a very extensive athletic resume, including a professional being a professional golfer and serving as a golf coach, a very successful one at that. But your son also was a professional baseball player, Right. So I have to ask. I have to ask before. We go any further? Were you one of those baseball dads? You know, I don't know about you, but if you ever look at Twitter now or anything on social media, you see how toxic, toxic, toxic it's become with political posts and politics. But I can tell you that there are some a lot of baseball dads out there where they hitting, hitting Twitter, if you will, has also become very toxic to.

Gerry James:
Yeah. No, I tried to stay out of my son's baseball and just basically be a. Fan of what he was doing. My goal for my oldest son was to have him become a PGA Tour player. And that's my that was part of the reason for my move here to Florida from Southern California 22 years, 21 years ago. Um, and I moved out here to TPC Sawgrass and with the intent of not only coaching myself because I'd won two world long drive championships. Myself and I'm a PGA professional. You know, my education obviously is in finance. But, you know, I love golf. And so when he chose baseball, I was like, oh, my word, why in the world? And he chose baseball. Probably because with golf, I was a little overbearing. I wanted him to be one of the best players in the world. And he and dad, I don't know. So he chose baseball. And to his credit, he made it to the Toronto Blue Jays organization and spent two and a half years with them, washed out in Double-A, which is pretty strong, and then came back and actually went back to golf. And he himself became a world long drive champion in 2017. You can Google them or YouTube them or whatever. Justin James And so he's made me extremely proud and he's a really good Christian kid. And that's, that's the main thing, as my, as is my youngest son as well. Trust in the Lord with all your heart and he will lead your ways.

Producer:
Well, I can tell you this much that only 10% of minor league baseball players, Gerry, make it to the major leagues. So again, I would say about what, probably 12 to 15% make it to where your son made it to Double-A. So that's still.

Gerry James:
Very, very impressive. Yeah, it's pretty good. And, you know, he was a pitcher, right handed thrower, and he just didn't quite throw hard enough. He was hitting 94. But, you know, the guys now in this modern era now are all for the most part if you're throwing from the right side. Touching. Touching. 100 and or close to 100. And if you're a starting thrower and he just quite wasn't there. And so he made it a long way. And I'm very proud of him for that.

Producer:
This Week in History, baseball and sports themed April 14th, today on this date in 1941, legendary. And he was a legend. Baseball player. Pete Rose was born. Personally I think he should be in the Hall of Fame. But what do I know? Nicknamed Charlie Hustle Rose played in Major League Baseball from 1963 to 1986 with the Cincinnati Reds, Philadelphia Phillies and Montreal. Didn't know he played for the Montreal Expos. I just remember him with the Reds and the Phillies. And I think what he was the one who made the catch in. What was it, Gerry? The I it's it's slipping my mind before my time. I think it was the 80 World Series when him and Bob Boone almost collided and the ball landed in Pete Rose's glove after it tipped off Bob Boone's glove. I think that right. Is that what it is? Yeah, I think that's what it rings a bell.

Gerry James:
Now you know wasn't watching a lot of I played baseball when I was younger but I didn't watch a lot. I just I remember this sets me back and kind of ages me but I remember sitting by the radio when when I was eight years old listening to the Detroit Tigers win the pennant.

Producer:
And Ernie Harwell. Yes, Behind the mic. Yeah. Ernie Harwell, one of the greatest.

Gerry James:
And yeah, Al Kaline was, you know, the Mickey Lolich and I forgot their other hurler, but Denny McLain and all coming back to me now. But boy, I'll tell you what, I think they went against the if I remember right in the World Series, the Saint Louis Cardinals, and they had forgot their right and their thrower, but they ended up, you know, winning the World Series. And that just that just made me, you know, really, really happy. I remember at eight years old, so long, long time ago.

Producer:
Well, Ernie Harwell used to tell the story when he was alive about how low the broadcast booth, the radio booth and well, the whole press.

Producer:
Level was at Old Tiger Stadium and how foul balls used to have to duck out of it, Right? He used to just have to duck out of the way of foul balls. And there were so many dents on the wall of the broadcast booth behind.

Producer:
Him because the booth was.

Producer:
So close to to home plate.

Producer:
Anyway, Pete Rose is Major League.

Producer:
Baseball's all time leader in hits games, played at bats and singles and has won three batting titles and an MVP. Also on this date, April 15th, 1947, American professional baseball player Jackie Robinson broke the color barrier and became the first African American player in the history of Major League Baseball. During his ten year major League career, he went on to win Rookie of the Year and was an All-Star for six consecutive seasons. A couple of other sports legends birthdays to pass along April 16th. On this date in 1947, American former professional basketball player Kareem Abdul-Jabbar was born. He played 20 years in the NBA with the Milwaukee Bucks and the Los Angeles Lakers, where he won a record six NBA MVP awards. Also on this date, 1952, April 16th, American professional football coach Bill Belichick was born. He holds numerous coaching records, including having won six Super Bowls as the head coach of the New England Patriots. And he is the only active coach to be part of the NFL's 100th anniversary team, probably safe to say the best of all time, although I consider Tom Brady to be the best quarterback of all time. And some people say Joe Montana. So guess I don't know. What do I know, right, Gerry?

Producer:
Well, you.

Gerry James:
Just have to look at rings.

Producer:
That's right. That's all that matters.

Gerry James:
You know what to me, I mean, you look at the goat. Brady And what does he have? Seven, seven.

Producer:
Seven.

Gerry James:
Seven rings, which is one more than Belichick has. Right.

Producer:
First player ever to, I think.

Producer:
First quarterback ever to win the Super.

Producer:
Bowl.

Producer:
In his home stadium.

Producer:
That's that's luck, though, because it's end timing. Yeah. But you know, but you know, it's that will it's.

Gerry James:
Still very impressive, you know, and people people have no idea what their potential is until they start to realize it. And you know, for myself personally, I played three different professional sports. Although you can't consider wrestling when I was younger, a professional sport necessarily. But I'll.

Producer:
Tell the wrestlers that now.

Gerry James:
They will. Yeah, I did a little stint in the WWF because on almost On a Dare from a gym owner and he he knew a certain individual. And I went up and did his camp up in Minnesota. Verne Gagne of all of all places and did his wrestling camp and then broke into professional wrestling for a period of time. And for reasons I don't want to get into, I did last long in that, you.

Producer:
Know what I mentioned your extensive athletic resume. I didn't want to mention I would I was going to let you mention professional wrestling, but that is part of your extensive athletic wrestling athletic resume. And I'm sure that we could talk about your short stint a little.

Producer:
Bit and a little bit more detail on another.

Producer:
Episode.

Producer:
But all right. Moving on with the final segment.

Producer:
Of today's show, and.

Producer:
We've been teasing it throughout the.

Producer:
Program today. Gerry, why now could be the best time to invest in fixed indexed annuities?

Gerry James:
Well, I think now is especially the best time and the right time because people it looks to me like we're going into a very, very serious downturn in the market. So if you have a 401. K or IRA and your money is tied in with the market or even inflation, say your money's in cash, you want to get it into a vehicle, into a platform that will grow your money reasonably and protect it. So you have a zero floor with no chances of suffering the downturn that you would suffer if you were in the market. So you want to kind of try to completely withdraw from that scenario, give yourself a chance to make money, but also protect that money from not losing any of its account value. So if you invest $100,000 with me, for instance, and the market or the indexes do absolutely nothing or they go to the market, goes to a 40% drop, you lose absolutely nothing. Your account value is still $100,000 minimum and probably more because I put your money into vehicles that you'll gain a little bit of in down in down markets that you'll gain a little bit of return in good markets. I've made 18% or more for my clients in good markets with again, no possibilities of losses. So that's the beauty of a fixed indexed annuity. Fixed annuities, you're going off of the current interest rate. Right now in this market, I'm getting a fixed annuity of at about 5.5% guaranteed. There's different contractual dates for those those funds.

Gerry James:
So the longer you you your contract goes with that, the more interest they're going to pay you predominantly. So there's three year contracts, five year contracts, seven year contracts and ten year contracts. If you're going to do a ten year contract, I would highly recommend that you go into a fixed indexed annuity that will end up always paying you a little bit more. But that's that's the vehicle. And in terms of long term accumulated wealth tax free, we put you into index universal life accounts or whole life accounts, whereas you build or you accumulate a amount of money that you can actually bank on yourself. You can use your own account value as your bank. So if you accumulate 50 or $100,000 in your life insurance account and then you can you can borrow against that for a car or a down payment on a home or college or what have you. That's the kind of financial planning that I do currently. Um, and it's, it's basically basically wealth protection and wealth accumulation. So it's called sleep insurance. And I don't have any problem with. With my investors calling me and telling me that I'm. What are you doing? You're you're wrecking me. I'm down 25%. I don't have any I don't have those issues because I guarantee that they'll never lose a dime. And I haven't lost a dime of any of the investors money that I've invested with in the last 12 years.

Producer:
Sleep insurance. I find that very interesting, very enticing. Let's go through that a little bit more.

Gerry James:
Yeah. So, I mean, one of the big time frames that people have and I said this earlier in the program is if you look back five years before and five years after you retire are two critical times for your money to produce adequate lifetime income. See, I'm an income specialist when it comes to retirement. You know, you're you're taking all this time to accumulate money in your retirement account. And if you make 10% a year or 15% a year or whatever the percentage is, and you're accumulating that wealth and it's compounding and you know, you're building that account value, that's great. But but, you know, if just before you retire, you start to take that income and you're taking, say, 5% of your account value a year to retire on. And then all of a sudden the market crashes and it's hooked into that, those market indices, then, you know, that account value goes down 30%. That's devastating. You're going to run out of money, probably. So that's devastating to your accountant. You know, your your retirement. And in a lot of cases, I've seen people have to go back to work because of these these type of things. So I protect the investors from those scenarios. I protect my clients from those scenarios.

Producer:
All right. One more.

Producer:
Time. Great stuff this week, Gerry. Episode two Again, please subscribe. If you missed any part of today's show, Apple, Google, Spotify or wherever you get your podcasts, visit the YouTube page as well. Youtube.com. Save money with Gerry James. How can people reach out?

Gerry James:
Yeah go to SafeMoneyManager.com the my phone number (904) 349-7977. You can reach out to me we can schedule an appointment we can sit down you can come to my office. We can meet. I can come to your home or a restaurant library If it's too far for you to drive and be glad to sit down and meet with you. Look at your portfolio, see what you have, and see how I can help you make your money. What you have currently last for the rest of your life and certainly, you know, protect you from losing a dime.

Producer:
All right.

Producer:
Great stuff this week. Thanks again, everybody, for listening to the show. And we will talk to you next week.

Producer:
Thanks for listening to Safe Money with Gerry James. You deserve to work with a financial expert who has a track record of helping clients exceed their financial goals by implementing safe and proven strategies to schedule your free No obligation consultation with Gerry. Visit SafeMoneyWithGerryJames.com.

Producer:
Not affiliated with the United States government. Gerry James does not offer tax, legal or investment advice. Consult with your tax advisor or attorney regarding specific situations. Opinions expressed are subject to change without notice. These opinions are not intended as investment advice, nor do they predict future performance of any product. All information provided is believed to be from reliable sources. However, we make no representation or warranty as to the accuracy of any statement. This information is intended to be educational in nature and does not provide a guarantee or specific result. All copyrights and trademarks are the property of their respective owners. A better life assumes no responsibility or liability for the content of this message. The information contained herein is provided on an as is basis with no guarantees of completeness, accuracy, usefulness, timeliness or of the results obtained from the use of this information.

Producer:
Not affiliated with the United States government. The agent does not offer tax, legal or investment advice. Consult with your tax advisor or attorney regarding specific situations. Opinions expressed are subject to change without notice. These opinions are not intended as investment advice, nor do they predict future performance of any product. All information provided is believed to be from reliable sources. However, we make no representation or warranty as to the accuracy of any statement. This information is intended to be educational in nature and does not provide a guarantee or a specific result. All copyrights and trademarks are the property of their respective owners. A mirror life assumes no responsibility or liability for the content of this message. The information contained herein is provided on an as is basis with no guarantees of completeness, accuracy, usefulness, timeliness or of the results obtained from the use of this information.

Sonix is the world’s most advanced automated transcription, translation, and subtitling platform. Fast, accurate, and affordable.

Automatically convert your mp3 files to text (txt file), Microsoft Word (docx file), and SubRip Subtitle (srt file) in minutes.

Sonix has many features that you'd love including automated subtitles, automated translation, share transcripts, enterprise-grade admin tools, and easily transcribe your Zoom meetings. Try Sonix for free today.