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Episode Transcript
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[paul_tyler]: hi this is paul tyler and welcome
to another episode of that annuity show ramsey
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[paul_tyler]: how are you this morning
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[paul_tyler]: good coming to us from atlanta actually
in hartford connecticut today and listen we’ve got
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00:00:17,161 –> 00:00:24,934
[paul_tyler]: a great guest somebody who is m
has written books has podcast show has a
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00:00:25,054 –> 00:00:31,585
[paul_tyler]: podcast and is a has a very
successful financial planning practice out in the west
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[paul_tyler]: david rozelle david author speaker wealth manager
and world traveller welcome they ad annuity
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[david_rosell]: thank
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[paul_tyler]: show
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[david_rosell]: you paul and ramsey a pleasure to
be on your show today
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00:00:42,231 –> 00:00:45,537
[paul_tyler]: yeah well listen i thought this was
i thought would be great to have you
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00:00:45,637 –> 00:00:49,564
[paul_tyler]: on the show for for a number
of reasons one is you know just to
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00:00:49,624 –> 00:00:54,472
[paul_tyler]: start out you’ve got a really interesting
practice you know from what i understand and
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[paul_tyler]: and have read and seen in oregon
maybe you can tell people about your business
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00:01:01,584 –> 00:01:04,689
[paul_tyler]: like who are you and you know
what do you do how do you describe
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00:01:04,749 –> 00:01:08,623
[paul_tyler]: people when they say oh and you
wrote this book and you do what else
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[paul_tyler]: do you do
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[david_rosell]: yeah well we we set up a
practice here in beautiful bendoregain in the center
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[david_rosell]: of the state big resort town twenty
two years ago and like most people in
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[david_rosell]: our line of
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[paul_tyler]: oh
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[david_rosell]: work we were all things to all
people in the beginning if you could fog
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[david_rosell]: a mirror we’d work with them and
as you gain more and more
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[paul_tyler]: oh
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[david_rosell]: expert tease you usually have an affinity
towards a certain part our business and so
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[david_rosell]: today the focus of our practice is
helping people in the second half of our
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[david_rosell]: financial journey so all of our clients
are at or near retirement they know how
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[david_rosell]: much money they have but they don’t
really have a clear idea before they meet
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[david_rosell]: us of what their money can or
can’t do for them for the rest of
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[david_rosell]: their lives
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[paul_tyler]: ah now i talked to a lot
of adviser and say i’m working on a
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[paul_tyler]: book i’m thinking about a podcast i’d
like to do speaking you’re doing that kind
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[paul_tyler]: of tell us how did ow did
you evolve how did your whole business evolve
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00:02:09,176 –> 00:02:13,786
[paul_tyler]: from you know what i’m a really
good financial planner to i’m really going to
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[paul_tyler]: take my practice and clients hell up
to the next level
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[david_rosell]: yeah well regarding the book you know
my intention behind our third book is coming
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[david_rosell]: out later this month
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[paul_tyler]: oh
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[david_rosell]: but having never
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[paul_tyler]: yes
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[david_rosell]: written a book before i realized is
that financial planning retirement planning is such a
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[david_rosell]: mondaine heavy topic for so many people
and
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[paul_tyler]: yeah
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[david_rosell]: our goal was to make it actually
fun
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[paul_tyler]: yeah
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[david_rosell]: in the way that i was able
to accomplish
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[paul_tyler]: oh
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[david_rosell]: this was mixing my two unique abilities
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[paul_tyler]: yeah
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[david_rosell]: or my two two passions in life
and one is for international adventure travel ve
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[david_rosell]: had an opportunity to spend a month
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[paul_tyler]: ye
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[david_rosell]: any five different countries around the world
which is a whole nother story um and
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00:03:00,337 –> 00:03:03,863
[david_rosell]: then every chapter would start with one
of these stories and
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[paul_tyler]: oh
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[david_rosell]: then link into a financial lesson right
when there was one or two many charts
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[david_rosell]: at the end of that chapter it
would go right into another financial story another
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[david_rosell]: travel story and so our goal is
to add some levity
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[paul_tyler]: yeah
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[david_rosell]: into financial planning interestingly enough
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[paul_tyler]: yeah
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[david_rosell]: the books went on to get
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[paul_tyler]: yeah
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[david_rosell]: endorsed by icons and are in the
world of motivation and finance and sports and
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[david_rosell]: now we get most of our new
clients are coming in from the books
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[paul_tyler]: interesting interesting um and i mean at
what point i’ve read the books and i
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[paul_tyler]: want to come back to your adventure
travel and and some of the stories and
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[paul_tyler]: and i read you know i’ve actually
listened to a couple of these podcasts talking
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[paul_tyler]: about your the use of coaches and
stuff very tempting when you’re successful okay in
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[paul_tyler]: a practice to say i know it
all okay sometimes very hard to say i
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[paul_tyler]: need a coach at what point did
you seek out coaching at what point did
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[paul_tyler]: you say you know what this is
actually really kind of changing how i’m approaching
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[paul_tyler]: life ye
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[david_rosell]: i mean i think seeking out a
coach in business or seeking out a life
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[david_rosell]: coach is coming from a plain place
of strength rather than weakness and i always
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[david_rosell]: want to a student
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[paul_tyler]: oh
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[david_rosell]: and the more that i learn the
more i realize there’s so much more to
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[david_rosell]: learn the more that i travel the
world the more i realize i haven’t seen
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[paul_tyler]: oh
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[david_rosell]: so much
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[paul_tyler]: oh
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[david_rosell]: in so you know tiger woods
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[paul_tyler]: what
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00:04:38,519 –> 00:04:39,861
[david_rosell]: the best golfer in the world
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[paul_tyler]: oh
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[david_rosell]: and he had two coaches so for
crying out
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[paul_tyler]: oh
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[david_rosell]: loud it’s important to continue learning and
bettering ourselves i’ve had coaches in my
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[paul_tyler]: oh
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[david_rosell]: life for a long time started out
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[paul_tyler]: oh
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[david_rosell]: with people like wan dire in napoleon
hill and reading books and always you know
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[david_rosell]: nightingale cont tapes
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[paul_tyler]: yeah
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[david_rosell]: but then when i started my business
i really start out with a life coach
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[david_rosell]: because i think as much as we
have our some of us like to think
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[david_rosell]: we have our our stars are lined
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[paul_tyler]: oh
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[david_rosell]: and we know what we’re doing it
really helps just get through the stresses of
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[david_rosell]: life as having someone guide you and
then and then over the years i’ve had
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[david_rosell]: coaches like dan sullivan who still might
coach twelve years later with strategic coach which
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[david_rosell]: i’m sure a lot of the listeners
are either partaking strategic
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[paul_tyler]: m
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[david_rosell]: coach or or ware of him
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[paul_tyler]: yeah
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[paul_tyler]: yeah
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[david_rosell]: so this is from a client perspective
yeah you know i think most people most
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[david_rosell]: very successful people even out there in
the world know very little about money
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[paul_tyler]: oh
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[david_rosell]: because
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[paul_tyler]: i
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[david_rosell]: they didn’t teach us in school didn’t
teach us things like the law of seventy
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[david_rosell]: two or the power
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[paul_tyler]: oh
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[david_rosell]: of compound interest which einstein said was
the
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[paul_tyler]: yah
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[david_rosell]: eighth wonder of the world and many
of us learned about money from our parents
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[david_rosell]: and what did our parents the most
part know about money very little and their
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[david_rosell]: parents learned about
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[paul_tyler]: oh
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[david_rosell]: money lessons from their parents who live
through the great depression so there’s a lot
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[david_rosell]: of fear around money so i think
one of the most powerful important investments that
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[david_rosell]: most people out there can make is
finding a true financial coach which is what
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[david_rosell]: all of us are to our clients
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[paul_tyler]: oh
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[david_rosell]: so so important to get that guidance
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[paul_tyler]: yeah well i listen thought i thought
your stories of going to packasstan and capi
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[paul_tyler]: i love them you know part part
of this is you know i’ve seen how
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[paul_tyler]: climbing has transformed a lot of lives
one of the charity i’m involved with we
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[paul_tyler]: actually do work with disabled athletes and
climing actually has been important element of the
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[paul_tyler]: program fact you know i was i
was not part of this particular trip but
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[paul_tyler]: we took some disabled athletes challenged you
know we don’t say challenge that but it’s
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[paul_tyler]: a exceptional athletes to the top of
mount kilmanjaron back down and you know we’ve
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[paul_tyler]: kind of all heard a lot and
use the nail you know it’s much harder
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[paul_tyler]: to come down the mountain than it
is up but it’s it’s true right david
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[paul_tyler]: and i and it sounds like you’re
very been very active in the mountain climbing
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[paul_tyler]: field what are the challenges you know
coming down that that that hill today i
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[paul_tyler]: think they’re more treacherous than ever you
know what are your clients saying what’s their
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[paul_tyler]: state of mind today m
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[david_rosell]: ah well to pick you back on
that whole analogy that many
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[paul_tyler]: oh
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[david_rosell]: of us have heard with the mountains
in failure is not an option creating certainty
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[paul_tyler]: yeah
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[david_rosell]: and the uncertainty of retirement which is
that first book that you’re alluding to do
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[david_rosell]: share a twenty one day track through
the himalayas of napoule but then years later
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[paul_tyler]: oh
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[david_rosell]: i had an opportunity to meet one
of my heroes a gentleman named ed feasters
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[david_rosell]: and ed is the best mountaineer that
probably has ever walked the planet earth he
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[david_rosell]: summited mount evers seven times
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[paul_tyler]: oh
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[david_rosell]: successfully but did so each time without
supplemental oxygen it’s really possible feat for most
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[david_rosell]: of us and i’ll never forget when
ed shared with me that
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[paul_tyler]: oh
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[david_rosell]: most people think his goal is to
get to the top of evers every time
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[david_rosell]: and he said that’s the last goal
that any experience
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[paul_tyler]: oh
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[david_rosell]: mountaineer would have and i said what
do you mean and he said eighty percent
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[david_rosell]: of the accidents and eighty per cent
of the deaths happen on the descent he
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[david_rosell]: said so our goals to get to
the summit but make sure we get back
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[david_rosell]: down alive to our friends and family
and when he said it’s the second half
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[david_rosell]: of his journey that takes the most
amount of risk and needs the most amount
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[david_rosell]: of planning
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[paul_tyler]: yeah
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[david_rosell]: that was my a moment to relate
it to the work we do with our
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[david_rosell]: clients because when they reach their financial
summit which is the last day that they’re
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[david_rosell]: adding to their four o one case
and iras and now they’re
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[paul_tyler]: no
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[david_rosell]: opening up that income valve they’re going
to need that income
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[paul_tyler]: no
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[david_rosell]: for two three and sometimes four plus
decades and i believe it’s the second half
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[david_rosell]: of the distribution
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[paul_tyler]: m
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[david_rosell]: phase of their lives that also takes
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[paul_tyler]: oh
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[david_rosell]: on the most amount of risk needs
the most amount of planning
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[paul_tyler]: yeah yeah i think maybe maybe was
one of your i listen to a few
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[paul_tyler]: of your podcasts the i think you
told one story about repelling off a cliff
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[paul_tyler]: and i did that once we we
we took a bunch of athletes out to
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[paul_tyler]: the edge of right on the border
of utah and colorado and here was an
180
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[paul_tyler]: adventure race you didn’t really know what
you were going to do till the next
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[david_rosell]: yeah
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[paul_tyler]: day and you know i was helping
ramsey would have laughed at me i was
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[paul_tyler]: helping a guy who is who worked
in the air force worked in one of
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[paul_tyler]: these missiles silos and had lost a
lot of his vision he was bound a
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[paul_tyler]: determined david to repel off this two
under fifty foot cliff and i was just
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[paul_tyler]: pretending okay please back out of this
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[david_rosell]: m
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[paul_tyler]: please
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[david_rosell]: hm
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[paul_tyler]: please back
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[david_rosell]: m
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[paul_tyler]: out he’s like i’m i thought i
couldn’t back out ramsey so i came up
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00:10:52,346 –> 00:10:56,613
[paul_tyler]: and dave that was scared for some
reason i have not been scared of heights
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[paul_tyler]: until for some reason later age it’s
hit me and i got up there scariest
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[paul_tyler]: thing on the planet and you talked
about repelling off that stuff and the trust
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[paul_tyler]: you know you have to trust your
gear you have to trust the people on
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[paul_tyler]: top of you um take us that
step on the planning side i mean what
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[paul_tyler]: are the emotions how do you coach
some you know ramsey ask you about coaching
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[paul_tyler]: how do you coach your clients through
that process oh my god i’m quitting my
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[paul_tyler]: job i got to are taking some
money out or i got to take my
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[paul_tyler]: arm these you know what’s that what’s
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[david_rosell]: yeah
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[paul_tyler]: the first thing they start to sweat
about
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[david_rosell]: well right now i think it’s about
getting their emotions in check and
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[paul_tyler]: yeah
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[david_rosell]: using another you know mountain analogy is
you visualize
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[paul_tyler]: a
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[david_rosell]: a boy climbing up
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[paul_tyler]: oh
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[david_rosell]: that same mountain with a yo yo
and the yo yo represents the stock market
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[david_rosell]: and when the yo yo goes down
they lose sleep it goes back up they’re
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00:11:51,651 –> 00:11:56,519
[david_rosell]: elated it goes back down and their
stomachs turning and i think as advice there’s
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00:11:56,579 –> 00:12:02,460
[david_rosell]: what we how we could really help
benefit our clients s by overtime teaching and
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[david_rosell]: training our clients to focus on the
boy carrying the yo yo because the boy
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[david_rosell]: in the yo yo get to the
top of the peak at exactly the same
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[david_rosell]: time and if you focus on the
boy rather than the undulating yo yo going
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00:12:17,363 –> 00:12:19,145
[david_rosell]: up and down it’s going to be
a much
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00:12:19,075 –> 00:12:19,260
[paul_tyler]: what
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[david_rosell]: more pleasant experience
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[paul_tyler]: m
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00:12:21,107 –> 00:12:21,748
[david_rosell]: for everybody
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[paul_tyler]: my
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00:12:38,180 –> 00:12:44,371
[paul_tyler]: oh oh oh
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[paul_tyler]: m
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[david_rosell]: i think it’s shifting people’s mindset who
are in the accumulation phase because if the
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[david_rosell]: markets are down say hovering around twenty
percent year to date you’re funding your four
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[david_rosell]: o
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[paul_tyler]: oh
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[david_rosell]: n k each in every pay period
and alive this could be a blessing because
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[david_rosell]: every pay period
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00:13:52,590 –> 00:13:53,520
[paul_tyler]: oh
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00:13:53,819 –> 00:13:59,380
[david_rosell]: when you fund that dollar you’re getting
twenty percent more shares every time you’re contributing
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[david_rosell]: right now so rather than look at
it as a negative it is a positive
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00:14:04,449 –> 00:14:09,878
[david_rosell]: um and people are doing the exact
opposite of what they should be for the
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[david_rosell]: most at um if you’re building a
house and lumber goes on sale you stack
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00:14:14,152 –> 00:14:18,474
[david_rosell]: up on that lumber right now when
the stock market goes on sale rather than
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00:14:18,361 –> 00:14:18,441
[paul_tyler]: ah
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00:14:18,574 –> 00:14:25,396
[david_rosell]: stock up we get rid of it
which is it’s counter intuitive um so fear
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00:14:26,539 –> 00:14:28,763
[david_rosell]: f e a r false evidence appearing
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00:14:28,839 –> 00:14:28,860
[paul_tyler]: m
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00:14:28,903 –> 00:14:34,352
[david_rosell]: real is how a lot of people
seem to make their their decisions when it
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[david_rosell]: comes to their finances and that again
comes back to where having that so that
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[david_rosell]: adviser to hold their hand really educate
them inform them with the facts like there’s
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[david_rosell]: never been a down market in real
estate or the stock market that hasn’t rebound
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[david_rosell]: to hit in all time high now
where the challenge or one of the many
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00:14:53,062 –> 00:14:59,012
[david_rosell]: challenges comes on the descent is when
you’re taking with jaws every month to live
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[david_rosell]: in retirement
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00:15:00,039 –> 00:15:00,060
[paul_tyler]: m
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00:15:00,535 –> 00:15:05,403
[david_rosell]: in the markets or down twenty percent
un to sell twenty percent more shares to
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00:15:05,464 –> 00:15:10,601
[david_rosell]: get the same ten thousand dollars that
month and that’s where some real planning planning
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[david_rosell]: for these recessions which we average one
every eight point eight years really
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[paul_tyler]: ah
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[david_rosell]: comes into play
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[paul_tyler]: wow
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[paul_tyler]: yeah
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[david_rosell]: really not
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[paul_tyler]: yeah so so
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[david_rosell]: it’s
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00:15:44,886 –> 00:15:44,986
[paul_tyler]: when
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[david_rosell]: one
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00:15:45,086 –> 00:15:45,326
[paul_tyler]: flit
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[david_rosell]: client at a time
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[paul_tyler]: yeah well ll let me ask you
so today’s today’s climate okay record inflation i
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[paul_tyler]: could i could go through the whole
scenario here uh interesting time do you get
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00:15:59,810 –> 00:16:04,218
[paul_tyler]: different questions or are you dealing with
any different emotions today than you were say
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00:16:04,518 –> 00:16:11,776
[paul_tyler]: you know you know four years ago
in the emotional reaction to the volatile changing
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[paul_tyler]: marketplace
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00:16:13,539 –> 00:16:16,704
[david_rosell]: yeah i mean you’re hitting upon one
of the most important topics right now that’s
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00:16:16,884 –> 00:16:19,509
[david_rosell]: front of mind awareness for everybody i
mean all you have to do is go
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00:16:19,689 –> 00:16:19,769
[david_rosell]: to
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[paul_tyler]: my
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00:16:19,809 –> 00:16:22,654
[david_rosell]: the grocery store or to the gas
station
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[paul_tyler]: oh
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00:16:22,954 –> 00:16:28,280
[david_rosell]: and it’s smack dab right in front
of our face is i think it comes
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00:16:28,340 –> 00:16:31,786
[david_rosell]: back to education yes we’re at a
forty year high hovering
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00:16:31,530 –> 00:16:31,711
[paul_tyler]: oh
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00:16:31,826 –> 00:16:37,316
[david_rosell]: around nine percent a lot of people
don’t remember that inflation was eighteen per cent
278
00:16:37,416 –> 00:16:44,117
[david_rosell]: in nineteen eighty but it really comes
back to the law of averages and we
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00:16:44,217 –> 00:16:50,207
[david_rosell]: know that inflation is always averaged between
three and four percent so if something is
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00:16:50,728 –> 00:16:54,454
[david_rosell]: hundreds lee’s this year on average next
year it’s going to be a hundred and
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00:16:54,554 –> 00:17:00,084
[david_rosell]: three dollars and fifty cents not a
big big deal but over time like a
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00:17:00,164 –> 00:17:03,876
[david_rosell]: twenty year time period even at three
and a half per cent ation the cost
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00:17:03,956 –> 00:17:09,121
[david_rosell]: of living doubles so that’s what really
needs to be playing for if for example
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00:17:09,141 –> 00:17:10,663
[david_rosell]: you have a forty year old client
285
00:17:10,535 –> 00:17:10,556
[paul_tyler]: i
286
00:17:11,363 –> 00:17:14,386
[david_rosell]: who says i want to retire by
the time i’m sixty and live on a
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00:17:14,486 –> 00:17:16,388
[david_rosell]: hundred thousand dollars and edit taxes
288
00:17:16,380 –> 00:17:16,400
[paul_tyler]: m
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00:17:17,059 –> 00:17:20,969
[david_rosell]: as planners we need to make sure
that they’re putting enough money away to take
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00:17:21,050 –> 00:17:25,721
[david_rosell]: out two hundred thousand dollars by the
time they’re sixty and by the time they’re
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00:17:25,761 –> 00:17:30,689
[david_rosell]: eighty years young and they’re only twenty
years into retirement because graying means playing these
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00:17:30,749 –> 00:17:38,645
[david_rosell]: days um that doubles again to four
hundred thousand dollars so i think by educating
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00:17:38,745 –> 00:17:45,957
[david_rosell]: people it’s not focusing on this nine
percent inflation rate as much as it is
294
00:17:46,057 –> 00:17:50,285
[david_rosell]: the damaging effects of the three and
a half per cent that it will always
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00:17:50,485 –> 00:17:51,527
[david_rosell]: average over time
296
00:17:56,731 –> 00:18:07,749
[paul_tyler]: so i guess it’s a challenge environment
ramsey i i seem to be getting raged
297
00:18:07,809 –> 00:18:14,761
[paul_tyler]: by my friends with different opinions as
to why the numbers are changing and why
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00:18:14,861 –> 00:18:19,549
[paul_tyler]: the numbers are going the wrong direction
when they’re going to change the answer those
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00:18:19,669 –> 00:18:27,462
[paul_tyler]: not simple one so i’m not sure
you know dave to ramsey’s question you know
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00:18:28,363 –> 00:18:34,534
[paul_tyler]: how much can people comprehend you know
inflation it is global at the moment you
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00:18:34,594 –> 00:18:35,215
[paul_tyler]: know i don’t think
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00:18:35,196 –> 00:18:35,689
[david_rosell]: hm
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00:18:35,535 –> 00:18:39,602
[paul_tyler]: when you’re looking at the gas when
you’re you’re filling your tank it feels like
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00:18:39,682 –> 00:18:45,812
[paul_tyler]: it’s very local um m i think
we’re i think we’re headed for a very
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00:18:46,013 –> 00:18:56,029
[paul_tyler]: interesting year or so as uh uh
any kind of emotional reaction that people may
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00:18:56,130 –> 00:18:59,593
[paul_tyler]: want to take will manifest self david
i think there’s i think people are going
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00:18:59,653 –> 00:19:04,598
[paul_tyler]: man a lot of coaching in the
next year to avoid making some really terrible
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00:19:04,638 –> 00:19:05,078
[paul_tyler]: mistakes
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00:19:17,529 –> 00:19:17,610
[paul_tyler]: yeah
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00:19:32,550 –> 00:19:32,791
[paul_tyler]: oh
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00:19:45,892 –> 00:19:51,402
[paul_tyler]: david you writing your book about you
know waking up and having a experience in
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00:19:52,243 –> 00:19:56,029
[paul_tyler]: cool and paccusind i was supposed to
be going a trip to peru with my
313
00:19:56,190 –> 00:20:00,917
[paul_tyler]: wife here about two months ago she
called me up and said you won’t believe
314
00:20:00,958 –> 00:20:07,949
[paul_tyler]: this we’re quarantine because of riots over
the cost of food escalading in peru so
315
00:20:08,399 –> 00:20:08,561
[david_rosell]: yeah
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00:20:08,530 –> 00:20:12,335
[paul_tyler]: as bad as it is here wow
we’ve got lot of global issues that are
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00:20:12,555 –> 00:20:15,258
[paul_tyler]: going to keep this thing cooking for
a while
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00:20:16,339 –> 00:20:20,726
[david_rosell]: yeah we should really count our blessings
for how fortunate we are because even when
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00:20:20,786 –> 00:20:24,412
[david_rosell]: we are going through tough times like
you’re both sharing compared to the rest of
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00:20:24,452 –> 00:20:28,900
[david_rosell]: the world when you want to put
it in perspective countries like zimbabwe is wala
321
00:20:29,380 –> 00:20:31,584
[david_rosell]: who have had over a thousand percent
322
00:20:31,740 –> 00:20:31,760
[paul_tyler]: m
323
00:20:31,744 –> 00:20:38,355
[david_rosell]: inflation on the anualized basis last several
years so in many ways you know what
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00:20:38,395 –> 00:20:42,302
[david_rosell]: we think about expands and rather than
come from a place of fear or lack
325
00:20:42,803 –> 00:20:45,407
[david_rosell]: and i don’t mean to just kind
of say oh it’s no big deal that
326
00:20:45,447 –> 00:20:49,854
[david_rosell]: inflations nine per cent but it’s only
half of what it was in nineteen eighty
327
00:20:50,375 –> 00:20:54,642
[david_rosell]: and we’ve come back from that and
we come back from whatever in ran right
328
00:20:54,703 –> 00:20:59,771
[david_rosell]: now we’ve had a string of incredible
bowl markets and real estate in the stock
329
00:20:59,851 –> 00:21:05,801
[david_rosell]: market and non sophisticated investors who have
an experien down markets in the past think
330
00:21:05,841 –> 00:21:09,147
[david_rosell]: that this is the only way it’s
going to be and it’s like a pressure
331
00:21:09,227 –> 00:21:13,113
[david_rosell]: cooker when you’re cooking with a pressure
cooker that steam is being released on the
332
00:21:13,193 –> 00:21:17,821
[david_rosell]: top and if that steam couldn’t be
released that pressure cooker is going to blow
333
00:21:18,001 –> 00:21:18,102
[david_rosell]: up
334
00:21:18,060 –> 00:21:18,424
[paul_tyler]: oh
335
00:21:18,422 –> 00:21:22,869
[david_rosell]: and go right through your ceiling and
right now we need some steam being released
336
00:21:22,990 –> 00:21:26,756
[david_rosell]: in the hot real estate market and
the stock market this is not
337
00:21:26,760 –> 00:21:27,002
[paul_tyler]: oh
338
00:21:26,976 –> 00:21:29,220
[david_rosell]: a bad thing what’s happening now this
is
339
00:21:29,180 –> 00:21:29,360
[paul_tyler]: yeah
340
00:21:29,300 –> 00:21:34,589
[david_rosell]: a normal market it’s not even a
major market down market
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00:21:34,603 –> 00:21:34,623
[paul_tyler]: a
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00:21:34,649 –> 00:21:38,676
[david_rosell]: i mean twenty eight months ago the
market dropped thirty four per cent and just
343
00:21:38,796 –> 00:21:43,071
[david_rosell]: over a week when covid became reality
and we go back to o eight and
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00:21:43,131 –> 00:21:46,057
[david_rosell]: early o nine the s and p
at one point was down to fifty seven
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00:21:46,177 –> 00:21:47,449
[david_rosell]: per cent and
346
00:21:47,571 –> 00:21:47,754
[paul_tyler]: yeah
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00:21:47,629 –> 00:21:52,297
[david_rosell]: dot com crash it was down forty
nine percent so it’s really important to just
348
00:21:52,373 –> 00:21:52,393
[paul_tyler]: i
349
00:21:52,397 –> 00:21:58,727
[david_rosell]: put the facts into perspective for clients
so that they realized the world is not
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00:21:58,848 –> 00:22:02,057
[david_rosell]: caving in and although by watching the
news we might think it is
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00:22:02,380 –> 00:22:06,066
[paul_tyler]: yeah ramsey on that note perspective to
add
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00:22:11,919 –> 00:22:11,940
[paul_tyler]: m
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00:22:25,983 –> 00:22:34,190
[paul_tyler]: at oh yeah oh m
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00:22:38,379 –> 00:22:40,634
[paul_tyler]: m yeah
355
00:22:45,232 –> 00:22:48,690
[paul_tyler]: oh yeah
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00:22:56,850 –> 00:23:01,396
[paul_tyler]: yeah oh oh oh
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00:23:09,009 –> 00:23:09,191
[david_rosell]: yeah
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00:23:10,964 –> 00:23:17,735
[paul_tyler]: yeah all right well david roselle author
of failure is not an option creating certainty
359
00:23:17,936 –> 00:23:22,926
[paul_tyler]: in the uncertainty of retirement david is
book one of three what’s the best way
360
00:23:23,006 –> 00:23:27,416
[paul_tyler]: for people to find more about you
follow you listen to you on your podcast
361
00:23:27,877 –> 00:23:29,366
[paul_tyler]: where should they go yeah
362
00:23:29,559 –> 00:23:32,925
[david_rosell]: yeah well if they enjoyed podcasts which
your listeners do
363
00:23:32,880 –> 00:23:33,204
[paul_tyler]: oh
364
00:23:33,646 –> 00:23:35,549
[david_rosell]: my podcast is called recession proof
365
00:23:35,610 –> 00:23:35,811
[paul_tyler]: oh
366
00:23:35,629 –> 00:23:42,280
[david_rosell]: your retirement with david roselle and we
talk about different things to do pep prepare
367
00:23:42,381 –> 00:23:46,588
[david_rosell]: for having a successful retirement in the
descent and we’re also at
368
00:23:46,659 –> 00:23:46,680
[paul_tyler]: m
369
00:23:47,088 –> 00:23:51,656
[david_rosell]: roselle wealth management dot com and that’s
r o s e l l wealth
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00:23:51,690 –> 00:23:51,913
[paul_tyler]: oh
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00:23:51,756 –> 00:23:52,678
[david_rosell]: management dot com
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00:23:53,400 –> 00:23:56,565
[paul_tyler]: all right we listen thank you very
much thank you ramsey and thank all of
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00:23:56,605 –> 00:24:01,253
[paul_tyler]: our listeners and listen give us feedback
give us suggestions for who we should have
374
00:24:01,293 –> 00:24:06,364
[paul_tyler]: on our show and join us again
next week for another episode of that annuity
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00:24:06,424 –> 00:24:07,087
[paul_tyler]: show thanks
The discussion is not meant to provide any legal, tax, or investment advice with respect to the purchase of an insurance product. A comprehensive evaluation of a consumer’s needs and financial situation should always occur in order to help determine if an insurance product may be appropriate for each unique situation.
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