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We're Orlando turns 1st for breaking news. 24 hours a day it starts now cockatoos 96.5 w d got a great afternoon work and weather wise will update you on the forecast in about 3 minutes substory police in Orlando looking for a suspect in a shooting channel intellectual Renzo went to the area where it happened she says it is noted for violence Orlando police were called to Windsor Cove apartments off of mercy drive around 9 Saturday night they found one person shot people who live in the apartment complex told Channel and the victim was shot in the head and rushed to the hospital several other shootings have been reported at that same apartment complex including a pregnant woman who was shot in the head last year she has recovered and arrest has been made in that case this is going to spend 6.5 w.p.m. Feel we're Lando turns 1st for breaking news weather and traffic semi and warm again for our Sunday with days have highs expected to hit the mid and upper eighty's from Santa line Eye Witness News I'm meteorologist Cassandra Crimean and I'm Dave Lonnie shower activity and news on the 6.5 w.t.v. 0 interactive weather radar 82 sunshine in Orlando prosecutors could rest their case tomorrow in the 1st murder trial of marquis Floyd investigators say he killed his pregnant ex-girlfriend Azadi Dixon at the end of 2016 before killing and a London police lieutenant while on the run the current trial is for that 1st murder reports of ethnic cleansing ISIS women escaping camps where Kurds have security fighting in northern Syria now in its 5th day Kentucky Republican Senator Rand Paul says sending u.s. Troops to help settle things between the Turks and the Kurds is not in America's best interest to my going to send the sons and daughters of American mothers and fathers and I'm going to send them there to die to try to figure out how the Kurds and the Turks can get along Paul. Telling N.B.C.'s Meet the Press that he believes Congress should look at the situation take a vote on it declaring war if that's what people are asking for the search is continuing for the top floors of a Hard Rock Hotel under construction in a wall and collapsed into the street but we know in some photos in the News 96.5 w d b o app it's 12 o 2 would use 96.5 w d b o. Whether lucky but us heating and air conditioning sunny and warm skies in store for your Sunday with daytime highs expected to reach the mid eighty's near a coastline and operate he's inland in Orlando will see a high today of $88.00 degrees overnight clear skies and a low of $68.00 from Shadowline I would a snooze a meteorologist Cassandra creamy. Face such security triple team traffic for westbound at 434 we still have our disabled vehicle blocking a right lane also on 425 southbound before west road some debris on the roadway there as well as on the 4 wait westbound before summer on some additional The very good news is no lanes blocked near either of those debris situations this reporter sponsored by Credit Karma get your truly free credit scores and free credit monitoring from pretty common today download the critic Common App now troubles in traffic on stand more snooze 96.5 w.d. Vo this is News 96.5 w d b o my cluster is a registered representative and offers securities through world Equity Group Inc them or Finra and s. I.p.c. a Registered investment advisor investment advisory services offered through retirement both advisors talent wealth management and retirement wealth advisors are separate entities and are not owned or controlled by world Equity Group Inc. You're having a wonderful weekend welcome to guarding your nest egg with Mike Lester of talent wealth management My name is Preston drawls alongside Mike each weekend on the radio talking about things that affect your wallet Both economy inside the 4 walls of your home when you're over the age of the. The 9 you're nearing retirement or you're already there find out more at guarding your nest egg dot com And today a lot to talk about technology you're not going to believe how ride share programs are possibly going to change thanks to technology and also what technology is doing with your retirement and do you need life insurance once you leave the working world behind and what do you need to know about fees that and more coming up in just a few minutes but Mike it crosses my mind that yes we're on the radio every single weekend they always have new listeners people that have never met you so I would like to introduce my friend Mike Lester who is a financial advisor Yes for well over 20 years founder of Talon Wealth Management an independent advisory firm you're also a father of 4 and married to your left Lee wife Katie yes all of that means that you're nice guy a and but your main focus is on who you. Are main focus the side your family is helping people with their investments sure I mean my background I My mother was a schoolteacher my father was an accounting of kind of a numbers kid growing up Chris I want to say I was the greatest 2 in the world. My 4th grade English teacher said actually said I was a little far Jake. As it was more because I just didn't enjoy literature class that much for class maybe maybe paid listen maybe it was her maybe it wasn't me bright tears or it was me I just wasn't that into her class moved to Little friends to it's I was kind of a math kid in college and got a degree in economics and finance not because I wanted to be an economics or finance major just because that was sort of the path of least resistance for me I wasn't planning on being a financial advisor but I got a few job offers to come out of college and one of them was to work in Chicago with the Board of Trade and and that sound like a lot of fun I grew up in calmest smaller rural town and move into a big city and work in somewhere like that sounds like a good time so when I did that after a while I wound up in New York for a long. You know eventually after doing that working for big corporations I felt like I had found my home and financial services and in the industry I just wanted to build a private wealth management company where I could caters specifically to individuals needs specifically people that are retired or very close to it we weren't trying to be everything to everyone because if you do that you're going to fail you have to really identify who you're going to help yeah it's very different objectives when it comes to how you're going to invest if you're building a retirement or you're trying to grow your assets over time you're looking at probably more of a hang in there low cost growth approach ups and downs in markets we don't affect you very much because your lifestyle is based on your income from your job and your income from your portfolio where people get very very little help because their employers really aren't helping them is making that transition into retirement there's typically isn't a coach at your employer that says Ok Well you're going to stop working here's how you should invest your money as you make that transition from acid accumulation to asset preservation and distribution our clients are all pretty much looking for the same thing they want to the highest rate of return they can get they're just not willing to take a lot of us to get it so what we're doing is we're putting together actively managed portfolios to help them certainly our goal is highest rate of return we can get net of fees but least amount of risk and if we can do that you'll be more successful in retirement the goal is to be able to maintain your current standard of living adjusted for inflation and taxes moving forward regardless of how long you live Chris I mean that's when the big things and I think we'll talk about a little bit later in the show but life expectancies keep getting a longer and longer and longer and it may sound a little weird this you to prepare for 30 or 40 years of retirement but you do and that's really our specialty I don't like to hang in there approach and at the New Day we need to add value so if we can show somebody how to get a higher average rate of return net of any fee that they would pay us to manage their portfolio than what they're currently getting then we're adding value if we're not showing a higher rate of return net of fees and writing value but at the same time if we can reduce the amount of risk that you're taking to get that return again our. Answer typically retired or pretty close to it they find that pretty valued and if I had to break down our business model and what we do a were a private wealth management company that can look at every investment option that's available and it's really our job to add value and frankly Christian if we can't show you any value that's Ok there's no reason to work with us if you'd like to find out more about that if Mike in the team are a fit for you visit guarding your nest egg dot com or reach out speak to a team member off the air and set up a time to comment on how that one on one conversation if you can hear us that means that he has that office convenient to you for 072701004072701000 I was reading where Morningstar had some interesting revelations about people who are able to retire on their own terms how they typically choose to do so when the market is high and their nest egg is nice and large of course that makes a lot of sense to retire when the market's high you have more money but did vantages and disadvantages of leaving during an up market retiring at that time. Well Kristen The advantages are pretty clear if you can money time your exact retirement when the market was as exact high that would feel pretty good let's say you're for a one k. That I realize or a lot of different types of retirement plans out there but let's keep it simple What say you work for a corporation they provide a 4 a one k. And your 41 k. Is as high as it's ever been on the day you walk out the door what's your biggest concern Well it's probably that will where's the market going from here you know what's it likely to do when you look at markets right now you can just google it or being in or whatever you want to do everybody's got an opinion right and it just gets confusing and confusing and confusing so what we do is we just deal with the facts we deal with the fundamentals and we look at probabilities of what markets are likely to do moving forward the economy is pretty good employments great housing maybe a slowing down a little bit there are concerns it's our job to take a look at individual client situation and their. Portfolio and try to figure out well what's the best situation for them right now so what I would say is I wouldn't be shocked if the Dow Jones Industrial Average got to $30000.00 that's not a huge move from where we are right now it's anywhere from 10 to 15 percent depending on where the market is you know at whatever day and that's a pretty good move but at the same time the potential downside if things get really bad what if that's a 40 to 50 percent downside and so when we're looking at that if you're if you're committed to the market right now and you have a 10 to 15 percent upside but you also have a 40 to 50 percent downside those odds aren't great so in my opinion we need to be really really careful right now and we need to be really watching things closely and be willing to get out of markets if it makes sense we don't want to just have this sort of hang in there mentality right now in my opinion because the potential downsides are pretty high and there's not a lot of upside now when we want to be more you know sort of committed to the market full time maybe a little more Hang in there well I was in a market where my potential downside was 10 to 15 percent but my potential upside was you know 50 percent or more it's pretty easy to get out in that type of market so we're looking at this all the time and then we're dealing with individuals that are certainly retired or close to it and if you're making that transition right now into retirement in markets or near all time highs you have to start thinking about things like sequence of returns where is your income going to come from how should my portfolio be invested Do I really want to hang in there I would defer to know you really want to hang in there right now there's a 1000000 reasons why one reason would be of is if in this example if your money is in a 401 k. There's no tax impact if you're moving the money around in the portfolio so let's say that we. Do some math we figure in your particular situation you really don't need to be overly committed to this market because there's not a lot of upside potentially but there's also potential lot of downside and being willing to make some changes in getting let's just say I'm not saying you would do this or would even recommend it but what if even if you went all the way into a cash position that would not trigger a taxable event your portfolio because inside of a 4 a one k. Right this would be the same for an ira of 4 or 3 before 57 What have you so figure out for yourself how committed you want to be again that's what we help people out with we'll give you all the data to help you decide how committed you want to be and then come up with a financial plan moving forward to help you particularly if you're transitioning to retirement right now you probably don't want that hang in there approach any more and if you're interested in finding out what an actively managed portfolio or tactical portfolio looks like and frankly find out if an investment working with an investment advisor will provide any value for you because yes Kristen if you work with an investment advisor they're going to charge you a fee to manage your portfolio the cost for everything there's a cost for everything you have to make sure that net of whatever for your going to pay you could get a higher average rate of return over time because if you can't there's no reason to work with an investment advisor there would be no reason to work with us but the same time we can reduce the amount of risk you're taking to get that return that's also valuable for our clients because they're retired or close to it so if you're listening right now to a radio program that means we have an office very close to you if you like to come sit down for our analysis of your current portfolio or our comprehensive financial plan just give us a call we'll find the office closest to you schedule an appointment and we'll sit down with you personally to do that for you and that's a 1500 dollars value so-called Now for 072701004072701000 and connect at guarding your nest egg dot com You know 95 was a big year for Coca-Cola but not in a good way remember that is still not a loon. They change. You know they were to. Because I am not good at stuck with him through 3 wars Republic are strong but this is new vividly remember watching not come armed and I think we'd all agree that New Coke turned out to be a major marketing. They use it in college as one of the biggest marketing by time it's actually a study I remember going over that I remember as a kid hitting every gas station that we could find and digging down the bottom of the you know refrigerator to try to find the the will we call the old Coke Classic at the time to try to find the old goat and then we would hoard it you know it's a really really special occasion and you grow up and things are different now no it's like people are hoarding bourbon Pretty much yes whatever trendy at the time but it was trendy and you can't find it you see bourbon or something but obviously Coca-Cola came back from that major marketing mistake we can recover from mistakes that is possible what are some big mistakes that you've seen people make with their retirement over the years or so we talk about all the time clearly I'm not a big fan of the Hang in there approach right hang in there I think works when you're younger but hanging in there through a market crash in retirement can be pretty tough I mean after all you might have to go back to work nobody wants to do that right another big issue that I see our new woodies sometimes people come in the office and they go Hey you're the guy that hates and he's like No no I don't hate him you would he's right a lot of investments have a place in your portfolio but you've got to be careful in what I don't like about annuities is how they're marketed by certain advisors that basically try to make them you know no matter what your situation is you need an annuity Well that can't possibly be true right every situation so different that can yeah it is you have to put together a custom plan and there are a lot of advice I mean like I knew just pay big commissions I'm not faulting these advisors that sell them but I'm just saying maybe they sell a few too many Ok Or maybe they're putting too much of a client's portfolio in one it's a typically illiquid investment terms like guaranteed income for life well who's life is attacking these the insurance companies live things like stock market. Participation no risk of loss I mean when people say this to you and starts sounding too good to be true you're really got to be careful because what are they say if it sounds to good to be true it probably is and piling our money into it that's right seeing people have issues because they get into these products and it turns out not to be what they were told it was and then they want out and then there's huge penalties to get out so the way to get around that person is get all the information upfront right get the facts on the annuity is find out if it's actually going to do what you want to do I get the information from a fiduciary not the annuity salesperson right so for anybody who's listening right now if you'd like more information about an annuity that you currently have or an annuity then advisor is trying to promoting what you say they're trying to sell to you if you want to get the facts and find out whether the annuity is going to accomplish your goals or not we can get you those facts if you give us a call in the next 10 minutes because we'll do an annuity stress test on that annuity again if it's the existing annuity that you currently have or if it's when you're considering and we can do that for you complimentary and that's a $250.00 value so call within the next 10 minutes 4072701004072701000 call within the next 10 minutes if you can hear us Mike in the talent wealth team has an office convenient to you and they can sit down and do that annuity stress test complimentary find out more at guarding your nest egg dot com Stay with us to find out where Steve Miller got the inspiration for one of his most memorable songs and what you need to know about fees and your retirement I'm guarding your Does day but my question of talent wealth management. No. Doubt that the days immediately go $33.00 defense secretary Mark Esper is confirming that roughly $1000.00 u.s. Troops will be pulling out of northern Syria he says they need to stay out of harm's way still York Yankees celebrating a 7 nothing win over the Houston Astros in game one of the American League Championship Series what we're watching. The tropics again an update on what sells there in the news a 1230 here in draw on news of the 6.5 w.b. Vo interactive weather radar right now sunny 82 in Orlando. When you get the app you get our alert stay connected to breaking news with our free and listen everywhere you go this is News 96.5 w d b o were or led or turns 1st for breaking news the weather when traffic this hour was paid for by the host and does not reflect the opinion of News $96.00 guilty d.b.o. . Guarding your nest egg with my cholesterol telling wealth management on your radio now flashback to 1973 that's more a 1st for this