The last decade was pretty great for stocks. So many investors flourished under low inflation, low taxes, and low interest rates, and you can safely say that the bull run we just went through was historic.
However, we’re now in a recessionary period marked by high inflation–and, just like bear markets of the past, we’re going to get through this one, too. If you’re nearing retirement, you might be a little concerned about the state of your portfolio, and today’s episode was recorded with you in mind.
In this conversation, Derek and Matthew explore how politics and the financial markets of the past impacted each other, the parallels and similarities between what’s happening now and what happened then, and what you should be doing now to prepare and plan for a better financial future.
In this podcast discussion, you’ll learn:
- Why it’s easy to panic in the face of a seeming financial crisis when you don’t know how the story ends.
- What makes this inflationary era both similar to and different from the economy under Jimmy Carter.
- What happened during the dot-com bubble, the Great Recession of 2008, and even the initial market shocks brought on by the COVID-19 pandemic–and why the solution to all these disasters was always the same.
- Why it’s so important for your income and investment plans to match each other.
- When to start considering rolling your 401(k) over to an IRA–and why tax planning is so important at every age.
Inspiring Quotes
- “This is what planning is, you look backwards to learn, but you look forward to prepare.” – Matthew Peck
Derek Gregoire: Although we’ve had some recent volatility over the last couple of years, the last decade has been pretty rosy for stock markets, to say the least. We had periods, a few years ago, we saw low inflation, lower taxes, low interest rates, and it made a great environment for public markets and the economy to flourish. At this point, it’s been a little bit of a different story, I’d say. And although a recession may have you worried, it’s important to remember, although we’re coming off a historic bull market run over many years, we’ve seen bear markets before and we made it through retirement, throughout recessions and inflationary periods. And obviously, I think we can get through this one as well.
So, I’m Derek Gregoire, joined by Matthew Peck as always, and welcome to the SHP Retirement Road Map podcast. And today, Matt, I think it’s important to talk a little bit about the history of like a little bit of, we won’t get too political, but how politics in different eras and finances kind of relate to each other. So, people that are in or nearing retirement and they’ve probably weathered recessions and inflation before, but maybe they don’t remember it, so.
Matthew Peck: Well, and I think that’s what it is, Derek. It’s like, I think everyone, me included, you need historical perspective. You need to sort of put it into perspective when it comes to, okay, this is what we’re going through right now. And if, by no means, are repeated in the future and history can’t predict the future, but there’s always parallels, there’s always similarities. And then most importantly, as you were mentioning, we have made it through past recession periods, past inflationary periods, and it gives you hope as you should have that we’ll get through this one as well.
Derek Gregoire: Well, it’s the thing as everyone thinks of like the now and today. And it’s like, okay, that seems a little bit, it can be frightening when things are costing so much more, and getting your gas and groceries, everything costs so much more.
Matthew Peck: Well, as I say, I mean, that’s why I always joke around about how the– I mean, history is always nice because you know how it ends. It’s like reading a book. I mean, you always learn something more about, oh, my goodness, I didn’t realize this happened or this meeting happened, or sometimes all the little coincidences that happened where meetings that maybe didn’t happen that could have made a big difference. But it’s always very reassuring because you know how the story ends, you know how we got through the Carter years, you know how the dot-com bubble burst and that recovery. But when you are living in the present, you don’t know how the story ends. So, there’s always that anxiety that will come with that.
Derek Gregoire: So, speaking of those two situations because when you look at the here and now, everyone, how many times have you heard people say, Oh, this is going to be different? This time, it’s different. Well, we look historically, you brought up a few different downturns that we’ve all got through or different situations. And people were obviously a lot younger during these situations, but I bet they remember them from their portfolio. We had the 1970s Carter-era inflation and we had the dot-com bubble. We haven’t even got to the 2008 yet, but those are two big kind of situations in the financial history that we saw, we went through as a country, and we got through them.
Matthew Peck: Well, and I think, we wanted to begin with the Carter-era inflation because that was by far, I’d say, the most consistent or the most common go-to when people said, okay, when was the last time that we had this type of inflation and this type of Federal Reserve, I might add, too, because over the past, as you were saying the during the introduction, we’ve had low interest rates for 20, 30, now 40 years, and suddenly, okay, now, we had low interest rates and then we had relatively low inflation. And so, okay, when was the last time that we had inflation that was basically out of control, and then the Fed had to take direct, sometimes painful action to fix it? And so, everyone went back to, as you should have, the Carter-era inflation and what Chairman Volcker did to fix it. And you talk about people’s memories, I mean, I love talking to our clients and just ask them the question, what interest rate did you pay on your first mortgage? And they talk in terms of 12%, 10%, CDs were up in that range.
Derek Gregoire: Probably more.
Matthew Peck: Yeah.
Derek Gregoire: That’s the thing is we’re in our 20th year of SHP Financial. Obviously, Carter was well before that. But it’s so funny because we have so many clients talk. I feel like I know that era just from growing up in the business and clients saying, oh, you have no idea. My mortgage was 12% and 15%, but our CDs were paying 13%, 14% in the bank. And I used to always say, well, I guess if you had your house paid off and a lot of money in the bank, you probably did okay. But then they said no, but everything costs so much more as well. So, that era was obviously a tricky one. But everything else and as a country, we’ve got through that and successfully over time.
Matthew Peck: Well, and I think, too, I mean, back to sort of like the Federal Reserve and again, the parallels to that time, I mean, one thing is that they realize, like the Federal Reserve especially now realizes that when inflation does occur and it’s that rampant, it affects us all. Your grandparents are living on a fixed income and it affects people that are just starting out. It affects, as you said, when people just getting food, I mean, it is such a painful force in people’s lives that they’re losing money. We talk about how people lose money safely if they have money in the checking and savings account because you’re legitimately losing money. I mean, even today, we feel about Carter years. I can’t go to a grocery store without dropping at least $200. And that’s like a half a week of food, I mean.
Derek Gregoire: Well, how about like breakfast? Breakfast, I feel like I go with my family and two boys in us to maybe like $31. Now, it’s like $100.
Matthew Peck: Right. I mean, if you’re on minimum wage or if you’re just sort of getting by, I mean, yeah, your income is not keeping up with that so the Federal Reserve will take whatever action they deem necessary to get that under control. And they know that once again and once inflation is beat for a little bit, at least, then, okay, things can kind of get back to a little bit of normal. But I share all that because it just says like, hey, we got through some pretty bad inflation in the past and it’s 40 years, but still, it’s sort of recent history in the big scheme of things. We got through that in the past. People still have a living memory of it.
And I think the other thing too, I get a kick out of that era too, which thankfully did not happen here, it’s just the lines at the gas station. I’ve seen images of that outside of like hurricanes. Thankfully, I have not seen any lines out at gas stations. But all those things, that will stick with you.
Derek Gregoire: Well, the next thing I remember was actually have a much more clear memory on this one is the dot-com bubble. And I’m not sure if it was even labeled that at that point, but I was interning for a large financial company at that point doing research. And I remember clients were calling this big firm saying, which is a whole other story of why we built the company that we did. This company, in my opinion, I want to even throw them under the bus, but one of these huge institutions, and once the market went down, the clients didn’t have almost like a plan for the market to go down. It was almost all the plan were assuming the market always goes up and that’s it.
People that retired in 2000 during the dot-com bubble that didn’t have a plan that pulled money out of their portfolio, it was devastating, even though it eventually recovered seven years later. So, if you’re pulling money out, those first three years, and the market went down three years in a row, that’s devastating to a long-term plan because think about it, let’s say that you had a million dollars, you were in the S&P, let’s say you’re pulling out $50,000 a year, that’s only 5%. You think, oh, I should be fine. That’s $150,000 in three years, the mark goes down 50. So, now you’re at like 400 something thousand. You have three years into retirement. And guess what? You still need $50,000, which is now 12% of your portfolio. It’s almost game over. It takes a heroic recovery to overcome that. And so, that’s a separate story, but it’s so important to have a plan.
Matthew Peck: No. Well, two things I want to pick up on. First, just in regards to kind of what’s in our DNA, and so, not a lot to sort of narrow and focus back on SHP, but that by far is in our DNA. Derek, myself, Keith, we all graduated 2000, 2001, and we graduated right in the middle of this dot-com bubble, the 9/11 attacks. And to talk about, I mean, is this about seven years? I mean, the S&P 500 dropped 50%, 50% during this time.
Derek Gregoire: And Nasdaq was worse.
Matthew Peck: Right. The Nasdaq was worse. But back to that idea, 50% down, seven years to recover, and if you compare what we’re going through now, I mean, I forget maybe the down, the most max down was 20% or 25%. I wish I had that exact number.
Derek Gregoire: Now, think a little more of S&P.
Matthew Peck: Right. Just focus strictly on the S&P. But then, technically, I mean, obviously, it moves on a daily basis, but we haven’t recovered all the way. But we’re a lion’s share of the way there in less than a year or two years, whatever it may end up being. But seven years to recover, 50% down.
Derek Gregoire: If you’re pulling money out, it probably never recovered.
Matthew Peck: Well, that’s what I mean, too. And we’ll certainly talk about the 2008 situation in a moment. But talk about, again, how that’s part of SHP’s DNAs because when we were young and starting this business, we saw people that went through that, that were withdrawing money during these types of market environment. And I think people forget that. We have a short-term memory when it comes to the markets and whatnot.
I mean, even COVID, we sort of have a short-term memory. I mean, COVID dropped 30% in a month. How scary was that? And it’s like, okay, but I remember what happened afterwards. Sorry to interrupt, but we remember clients and people going through the dot-com bubble while they’re trying to retire and that’s why we sort of try to build our business differently and having a plan.
Derek Gregoire: Yeah, I think the main thing too, as we’re going to go through a bunch more stats here and so forth, but as you’re listening, what we always try to provide some useful information to know, are you prepared for retirement? Do you have a rock-solid plan in place? Our clients listening know that we’ve done a lot of this to prepare them for. We always say we hope for the best but plan for the worst.
If you wanted to kind of see where you are, we have a really cool quiz. It’s called SHPQuiz.com or that’s where the website is. You can take a quiz. It takes five minutes maybe, but it’ll kind of give you an idea of what holes you might have in your retirement plan. Or another good useful guide is to go to SHPGuides.com, plural SHPGuides.com, and we have a really good white paper pamphlet, whatever we want to call it. What do you call those things?
Matthew Peck: White paper is good, brochure.
Derek Gregoire: Brochure, there you go, on the five worlds of that we think everyone should have for retirement planning. So, SHPGuides.com or SHPQuiz.com just to get some help. So, Matt, we’re looking at those two situations. I remember, by the way, in 2001 when I was working for this company, I was still in college, my last semester, and I’m broke after the 9/11 attacks and dot-com. We had so much going on. A woman called and the advisor that I was working with basically was trying to tell me like if anyone calls, I’m not here. He really didn’t want to deal with people. And it was kind of unfortunate.
So, this woman called and she’s like, “I know so-and-so is not taking calls, but my husband just retired a year ago,” and I forget the exact verbiage, but it was like, “We lost half of our money in a year or two. What do we do from here?” And I’m like, what if that was my mom, what if that was a family, what if that was my– so that’s hence how we started our company is to make sure we plan for all area variables, from income, investments, taxes, health care, legacy, putting it under one plan that’s reviewed all the time.
Matthew Peck: Absolutely. I mean, and talk about how important that was because as you were saying about hypothetically at a million dollars in 2000, 2001, and then you were withdrawing, I mean, I know it’s a one-off example of it. But if someone is sort of invest in the market and they are that close to retirement, clearly, they didn’t have a plan.
Derek Gregoire: Exactly.
Matthew Peck: Now, I know we’re talking about someone that’s hypothetical, but it just shows the importance of making sure that your investment plan matches your income plan, which is obviously your retirement time horizon and obviously taxes. And during the different withdrawals and distributions, I mean, quick anecdote, I have a client of mine who will be celebrating her second marriage very soon for a second wedding. And they needed only about $10,000, whatever it may be, to help pay for the costs.
But the whole idea was that we were balancing the amount of money that was in cash with how much the markets had performed, like what portfolio, if any, had done the more conservative or moderate and whatnot, but then also, like the tax status of each of the assets. So, it’s a little bit convoluted or it seems kind of convoluted, but at the end of the day, we sort of raised cash from the more aggressive portfolio because it’s done well for this particular year, but then we made sure that we use some of the cash here. But then also, it was a half and half in regards to distributions from IRA and after-tax dollars.
Derek Gregoire: That’s a lot of things to consider just for a small– not small, but a small withdrawal.
Matthew Peck: That’s exactly what I’m saying. I mean, here’s taxes, what the market’s doing, cash positions, all for a $10,000 withdrawal, right?
Derek Gregoire: That’s the importance of having a plan. And it’s funny because just I’ve seen personally, I’m sure you have, a lot of our advisors have seen clients coming in. And let’s say they save the $1.5 million and they’re in great position. And I feel like we’re saving them because their risk is so high. We’re like, “Oh, I’m so glad you came in now,” because if they came in, it was too late, great. A lot of people listening might be okay right now, but they’re one bad market away from not being okay where it could be avoided if you plan properly.
Matthew Peck: No, and honestly, a referral, a great family of mine up in the North Shore, they referred me to this family. So, this is husband and wife, and she is about 62, 63 years old, same idea, lion’s share of their assets are in a 401(k), roughly over a million dollars. And it was 95% stock.
Derek Gregoire: Wow.
Matthew Peck: And she was, again, 62, 63.
Derek Gregoire: She is probably getting close to retire.
Matthew Peck: Right. And it was great because, as we’re having our conversations, and I love our conversation, I love meeting new people that whether it’s through a referral or through the podcast or whatnot. But then it’s just so comical when it’s like, wow, this is the person that we sometimes talk about who you don’t want to be.
Derek Gregoire: That’s true. Right, right.
Matthew Peck: And Sheila, please forgive me. But the whole idea is that, and she knew, too, I mean, we were talking about it. And so, she was well aware. And she’s like, “This is probably a little too aggressive for where I am right now.” I’m like, “Well, hey, you’re working. It’s okay,” but it gives you the idea that it absolutely happens. People just, their life happens. I mean, I think that she’s talking about a wedding, I think they were going to a wedding soon. I mean, they had– actually, no, and they celebrated the first granddaughter the same year. So, I would rather have people focusing on their granddaughter and their son getting married or whatever that may be. And so, I wouldn’t say it’s about the goalie, but she just said, “Yeah, I just haven’t got to it yet.” So, that thing happens.
Derek Gregoire: So, the goal is for a good advisor to take that off their plates.
Matthew Peck: Right.
Derek Gregoire: That’s what we do. So, we had the Great Recession of 2008. I think that’s more fresh in everyone’s mind. There were different factors there with the housing market and we had a lot of just a whole different situation than we have right now. But again, even that, in the middle of that, imagine of how bad things looked. It was painful. Everything was going, like banks were failing. It was mayhem. Companies were just…
Matthew Peck: And just scary, too. All of those sessions are just so scary when you’re looking at your statements and you’re just seeing them fall again and again. And as you were saying too, you hit on a great point where the reasons are different, right? So, if you talk about the dot-com bubble, I mean these companies were just getting way out of hand and the prices were just way too high. And then, obviously, they had to come back, then it was recession, then it was 9/11, right? Then you have ’08, ’08 was just rampant, giving out credit and lending to people that really should not have been borrowing at all. And some of the– remember the prime mortgages and subprime mortgages, I mean, they were just…
Derek Gregoire: Oh, yeah, fun doing everything.
Matthew Peck: Yeah, exactly.
Derek Gregoire: Everyone’s getting a mortgage if you had made $10 or a million.
Matthew Peck: With no money down. So, literally, people…
Derek Gregoire: Can’t imagine that being a problem.
Matthew Peck: Yeah, right. It’s like, let’s say, I’m no money down and I’m living in a home that’s underwater or that’s literally, I owe more than the home is worth, yeah, here are the keys, I’m walking away.
Derek Gregoire: I make 50 grand a year and the home is $2 million.
Matthew Peck: Yeah, right. Exactly. But the point being is that the reasons will always be, there’s a combination in the similarities and these parallels, like I was talking about. But the same point, when they all add up together, it does mean difficult times for the markets. So, the reasons might change, but what doesn’t change though, as we were talking about, is the importance of having a plan and knowing that all these– it’s almost like a storm, right? All these conditions are all going to come together, a storm and some storms are worse than others, and then the blue skies come out again. But if you don’t have a plan for those storms and for the length of those storms…
Derek Gregoire: Yep, or if you panic during the storm. The whole thing, Matt, is like we’ve seen these roadblocks before. We’ve gotten through them. Obviously, SHP is doing it for 20 years. But there’s always international political conflict, there’s bad banking practices. The list goes on and on. But having a professional by your side who knows how to navigate these tough times, who’s gone through them before, it’s obviously an invaluable asset for retirement planning. I mean, that’s literally what we do for our clients.
And I’ve had a couple of deaths, unfortunately, in the last month or so, and it’s just awful. But the one at least I feel good about, these families know that their financial affairs are taken care of during that, doesn’t even compare anything to what they’re going through, but at least it’s one thing off the table. And like I had a recent client passed away and he did everything. He would handle the finances, he did all the accounting. He was an accountant, awesome guy, and he wanted to make sure his wife was taken care of and that he had a company that he trusted that could see his wishes for his family. And so, now, at least she has– and that’s the other thing, people sometimes, they think they can do it themselves, but if the wife or the husband or whatever spouse does the planning, does the financial affairs, if they pass away and not the other spouse that doesn’t do them, they’re kind of thrown to the wolves and you might get a bad experience. You might get some just salesman looking at a…
Matthew Peck: While you’re grieving, I might add.
Derek Gregoire: Exactly, exactly. So, I would say, while there’s a few factors to consider, essentially, we’ve seen what it’s like to go through a recession and we’ve talked about it. I think, we should, Matt, talk about some of the steps retirees or soon to be retirees should be doing to protect themselves. And I think most people think is like, I’d say IRAs and 401(k)s are that hot topic because that’s where most of the assets are.
Matthew Peck: Well, and I think to go back and to kind of use some of the more official terms, so Derek at the beginning was mentioning of, okay, withdrawing money during bad times. So, technically, well, obviously, you and I talk about it, but just so all of our listeners know, that’s what’s called sequence of return risks. Okay, again…
Derek Gregoire: It’s an important thing to know.
Matthew Peck: Right. So, sequence of returns, think of it like, okay, well I get this year versus next year versus the following year because you can’t really control that. And we were talking about 2000, 2001. I mean, it was close to two to three years of the markets being down. Two to three years. So, before, eventually, recovery begins, so if you plan on taking distributions soon or are currently taking them, withdrawing from a declining portfolio can slash its lifespan.
Derek Gregoire: Yeah. Oh, it’s huge. So, that’s what you were saying earlier. Over a long period of time, a portfolio may average 5% or 7%, but well, if it’s averaging 7% and I have a million dollars and I’ve only pulled 5% out and it’s averaged 7%, how come I have less money? Well, that’s sequence of returns, if the returns are negative, especially early on in your retirement, and like you mentioned earlier, during 2000 and 2002, that have been a horrible year to retire in terms of withdrawal.
So, you have to be careful because if you don’t have your assets set up properly for distribution, remember, accumulation versus distribution, completely different phases of life. So, it’s important to make sure if you have IRAs, if you have 401(k)s, even if you have non-IRAs, make sure the allocation is proper at this point, that’s a little bit hedge against the market that takes into account inflation and anything else that can affect the longevity of your portfolio.
Matthew Peck: Well, and the other thing I want to add is just the sequence of returns risk before we talk about other steps that people can take. One of the little math problems that really help emphasize that is because if you lose 10% and then if you gain 10%, you’re still not equal. I mean, you literally need to get 15% in order to make it a 10%. Or think of this, we have 100 grand, lose 10%, okay, now you’re down to 90, but if you earn 10%, you’re only back up to $99,000, right?
So, that’s the whole idea is the fact that whatever you lose, if you’re not balancing for sequence of returns risk or planning for it, whatever you might lose in that given year, you’re going to need more for it to recover while you’re still making distributions or potentially making distributions, especially if in retirement. So, that math, I think, is a great thing to keep in mind when you say, “Okay, hey, I can’t afford to lose, let’s say, 10% because now, I need 12% to get back.” That means you can’t take on excess risk. It’s a spiral you don’t want to be in.
Derek Gregoire: Especially if you’re pulling money out at the same time.
Matthew Peck: Exactly.
Derek Gregoire: And so, the other thing we want to talk about, let’s say your 401(k)s or IRAs, one thing is if your 401(k) is at work but you’re over 59 and a half, it might be an opportunity to roll to an IRA because you might have more options for, you might have more fund selection, more options for investments inside an IRA compared to a 401(k). And the other thing too, from a tax standpoint, if you have IRAs and 401(k)s, the other thing to look at, obviously, each person, each situation, each family is different, but Roth conversions. We talked about that before, but that’s another way to hedge taxes because we haven’t even gone down that road.
But taxes in the political climate around taxes could affect your portfolio big time because if you have a million dollars, that’s not really a million dollars because the government right now might own 37%. And then two years, they might say we own 45%. So, it’s not really your money, it’s partly yours, partly the government’s.
Matthew Peck: I can’t stress the importance of tax planning. I know, as I said, we won’t go too far. We’re talking more general and more historical than– it’s too far down the historical rabbit hole. But I mean, think about, and I would say the example of my client’s wedding, I mean, even a normal distribution, even a normal IRA or 401(k) distribution, our default is probably 20% withholding, 15% for Fed and 5% for state, for the state of Massachusetts or for folks that were listening in Massachusetts, that’s 20%. So, I mean, think about that. Even if you take the million dollars and that’s even…
Derek Gregoire: Twenty percent is low.
Matthew Peck: Right, right. Exactly. So, okay, you have a million, no, no, no, you got 800 grand, and that’s probably being generous as to how much you have. $200,000 of that million, and as I said, I’m probably being generous with that, is you will have $800,000. I mean, that’s a lot of money.
Derek Gregoire: Not only that, when you call and say, I need 50 for a new car, we have to give you 70 for you to send 15 to the government, 5 to Mass, or whatever. Obviously, I’m not using the exact terms, but where if you have a Roth IRA, if you need 50, it’s just 50. So, the planning– and then by the way, if you have RMDs, let’s say you have required minimum distributions and you have pretty good income and other miscellaneous income. Now, you also start flirting with Medicare premium adjustments. So, I don’t want to scare, wanting to confuse everyone. The most important thing here is just that’s where the planning comes in. There’s so many factors, like when you take Social Security has an impact on taxes, has an impact on your withdrawals, has an impact potentially on Medicare premiums, all these things are intertwined.
Matthew Peck: And the last thing I would add, just the fact that all these things then change. You had the Secure Act, the initial one. Then you had the Secure Act 2.0. You mention about how the taxes will change in the future. They’re already set to change after 2025 with one of the sunsetting. So, not only do these things, I mean, yes, history, can go back to history, right? Not only do you learn from them, yes, there are parallels and there are similarities, but you also have to be looking to the future, looking to what is coming down the road, both for you personally in your own unique situation as well as what’s happening in the globe and in the economy and in Washington, DC. So, this is what the planning is, you look backwards to learn, but you look forward to prepare.
Derek Gregoire: Good comment. And I think the main thing, too, as we kind of close this conversation, is you have the– we always say it before. Do you have a portfolio or a plan, right? A portfolio is just a pile of investments. It’s important. I don’t want to undermine it because it’s huge, it’s a big part of what we do. But I think the difference, way we try to build out our team here over the last 20 years, is we have a full team, CFAs, so forth that handle the investments and all that one piece. We have a different team that handles the planning and the planning aspects. We have a team of CPAs and attorneys who help on the estate tax questions and planning around estate taxes and just taxes in general that we go back and forth with Roth conversion, tax-loss harvesting strategies.
So, if you just have a portfolio and you have no other plan, health care, I mean, and we talk about health care, that’s what we think about having a comprehensive plan. So, especially now, no one knows what the market’s going to do. I can’t tell you that. Matt can’t tell you. We’re pretty confident over the long run. But retirement or upcoming retirement isn’t a good time to deal with uncertainty. There’s no real simple solution or piece of advice that applies to every single person when it comes to retirement planning, unfortunately.
The important thing is, as I mentioned 100 times, have a comprehensive plan that’s built to protect against these market risks and also tailored for your specific situation and goals. So, think about it. I mean, you’ve worked hard your entire life, saved some money, and a big part of your nest egg is probably rolled up into an IRA, 401(k), or in the same strategy, you might be in the same strategy for investment-wise as you had when you were younger. But things can change.
And right now, the financial markets are changing in ways that they haven’t in a while. We’ve seen this in the last couple of years. At times, the market had experienced unprecedented gains, but during downturns, you could be left hoping for a speedy correction just trying to get back on track with things were, but hoping is not a strategy. We know that.
I remember 2008, it was a drop of over 40%. So, when it comes to your retirement, you definitely don’t want to play around with the income you’re depending on, right? And that’s where our teams come to work every day with one thing in mind, how do we help honest, hardworking people live the retirement that you’ve been dreaming of, that you’ve tried to build, that you’ve worked so hard to get to? And it usually involves the same things we’re talking about today, trying to minimize risks and protect your retirement income that you’re depending on, which looks at all kinds of taxes, tax strategies, income strategies, asset allocation strategies, risk tolerance. There’s so much that goes into it.
So, I think our team, there’s a couple of different ways that we can help. One of the ways is basically just going to our website, which is SHPFinancial.com. There’s a ton of resources there. You can sign up for a complimentary consultation there, but if you just want to get some basic information just to get started on this journey and don’t want a consultation, you can go to SHPQuiz.com and take a retirement quiz to see where you stand at this point. Or you can also go to SHPGuides.com to download our recent white paper on the five most important aspects we think you need from a planning standpoint to have in your retirement. So, SHPFinancial.com is the website, SHP Guides for the white paper, and SHPQuiz.com to take your retirement quiz. So, a lot of good information, Matt. Thanks for all the info.
Matthew Peck: I wouldn’t miss it, my friend.
Derek Gregoire: And we’ll talk to you again soon. Thank you.
