independent financial advisor and what that means in effect is i help someone every stage of their life with their finances from beginning to and then of course going into the point where someone's passing on their legacy and finances to the next generation interested how long have you been doing this well i've been doing i've been in the industry about twenty nine years now for you know nine years something a little bit about you above your background you know how did you get to do this well i got to this i got to this point because i've always been interested first of all first and foremost in helping people and what i do now is help people research financial goals but years ago i used to be always about you know looking to invest money and that's a lot of time myself i have lots of different business  on so i've always been about how to make money how to make well how to hold onto it how to invest and that kind of got me in this industry i was very interested in that so i went on to get licensed and so on and so forth in training and i got started in the industry and i've been doing it for a set about twenty one years now and it's very rewarding awesome awesome what went through their financial educational stock for kids my things start educating and you know what that's interesting you say that because that's one of the most important things that we don't really have enough of that in this country where kids are started at very young age to learn how to save the thing i would say is that you can't possibly get started early enough planning for your future so that's what you start early very early that's when important know who are your like your id clients well i would say ideal clients for me would be someone that's really looking to invest for the future for some point and i don't look at things in terms of how much finance a someone has how much money they have i work with folks that are individuals just starting out i work with businesses business planning investments and so on and so forth and really what i do is very holistic so it isn't just about the investments themselves and years ago they used to use that title for advisors they were doing things as a broker or stock broker and i could be further away from that would you think that the definition of a broker broker someone the that sell something vies and sell something someone else for a profit that's not really what i do i'd really like market myself it's  vice i give financial advice and what i do try to do that is make it very comprehensive you know dotting the client's eyes and t's and making sure they're in a situation not only to do all financially but to make sure they've taken in consideration in areas like tax that well i think a lot of people are just concerned about maybe being taken advantage of or they may have had a bad experience and that should not be the reason not for someone to get involved or find a very person i think it's a matter of finding the right person to work with you more than anything else where you've got some type of camaraderie with that person and understanding and i think the biggest things is the level of trust that you must have been someone so as a result for me in my business a lot of folks come from referrals from clients that are happy with me they trust me and i've worked with so many years ago told me a manager in this industry said people do business with you for three reasons they know you and like you they trust you know you're going to be here and i got to tell you that their point knowing that you're going to be there is most important thing a lot of  the industry but they don't deliver correct and they over promise underwood who are now for you to be there for this financial industry for twenty nine years that speaks volume you know what i mean dumb enough to trust to a lot so does very good now let me ask you a very important question and that is there are people like in their forty's fifty's sixty's and the like or have not started so what will you tell people they don't get started today and the biggest issue i think for folks that are planning for the retirement is that is outliving their first resource more than anything else and there's actually some statistics out there were most people spend more time planning for a two week vacation a one or two week vacation than setting aside that time for retirement and what i found mercenary is that the time is we know goes by so quickly they say where's all the time go well passes quick you know you wake you wake up your teenager you're in middle school you're in high school you're in great school you're in college you're thirty you're forty or fifty and once get to that point it's not that it's too late but you really need to get started sooner because the fact of the matter is most cases someone's actual retirement the amount of the years that they're in retirement is longer than they spent working and you have to have the resources in place because what you don't want to do is change your lifestyle and i have a saying that you know the golden years we always heard about that talk about that is the golden years is time to be spent on things that you want to do maybe spending more time with your children grandchildren traveling doing things you really want to do it's not necessarily meant to be time spent at the golden arches nothing against mcdonald's you should want to be able to work because you want to do it not because you have to do it well that's very powerful know how you have one hundred claims i'm not so you should go into detail of that they do they may wait till all i got everything all taken care of this they have the that i have the other thing but they really haven't thought about how it all fits together and in a lot of cases you talk about the area diversification and actually investing i always asked one of the first questions i asked with meeting someone first meeting is generally just fact finding about each other are you are you diversify the understand what that you know diversification means and they say yes i am diversified i have an account at one firm another firm also fargo i have one it had a bank i have one with merrill lynch and what i find as we get further into the conversation is that generally speaking someone has the same types of investments three or four different places and they think because the investments are at these different places they're diversified but they're really not diversified going to that area because it does take time for things or grow and i think one of the issues today is that a lot of folks think that you can just make money overnight and perfect examples that if you think back years ago we had the quiz called the tech bubble word technology stocks were just taking off over there still are averaging into maybe individual stocks or into mutual funds over time that you'll find the money will double in value and triple in value as time goes on but it's just the matter of getting started and a lot of folks think i don't have enough money i don't have the resources to do that  start working if you take a little bit of money out of every paycheck there's a saying to pay yourself first obviously if the pay creditors etc pay yourself first which is what i mean by that is taking out money right off the bat that goes into your retirement plan starting a roth important so so tell me about timing the market now timing the market now we're also at a very interesting time in that there's a lot of things going on in the world today there's a lot of technology advances you look at the area technology health care  to very good areas to be invested in but everything goes in cycles and it's not that you put money in something spec that the take off and go to the moon but you've got to be careful going along with that get rich quick attitude that some folks have out there well you can lose  quickly as you can make money a perfect example today would be the industry if you talk about you know with medical advances things of that nature technology there are very good areas it mentioned earlier to be end but you have to be careful i think in most cases you're someone's better off good well i think the future financial history is going great you know is looking really good but i think a lot of folks have been in a very good market cycle with this one of the biggest bull markets we've had in many many years and folks think that while you know i can do this on my own my own my own  not going to say they can't but the things you're really it helps to have someone advisor to have a coach financially someone that's been through all different types of markets because what we have today is going to change at some point to we go back to two thousand and eight we had a massive correction in two thousand and eight two thousand and nine where portfolios were half of them value folks with this investing conservatively even and it's what a lot of people that is the over reacted to that and what i mean is they sold their investments long before they should have and of course the market rebounded and then some so it's a matter of being able to stay in the investments you have but most importantly make sure you're not only in the right types of investments but they're what you're trying to create in terms of whether  yourself moderately aggressive because your life changes and the fact the matter is as we get older there is actually less time to regroup in the event something goes south but the thing is you want to be in the right types of investments and you want to hold if you have that type of strategy you'll be would you tell people like that are you going to tell them to remove to get money out of the four one k put it to you and for example a financial advisor i mean people luck category that are getting like one point zero four one point two five percent annually every day if every y they can definitely do better but it isn't a matter of me saying i'll take it out of there for one k or for three b it's just a matter i try to make sure everything works in concert and what i mean by that is when i'm sitting down with someone the initial meeting is all fact finding you know what's what's important and  they have what have they started because what i will look at is make sure that they're in the right types of things based on what their risk tolerance is and block people confuse risk with loss when really it's followed volatility you know market investments go up and down but make sure they're in the right types of things and what i tried not to do is duplicate the efforts that someone has somewhere else so other words they may have for one k they may have a roth ira they may have investments of brokerage companies and or banks but it's a matter of someone being the quarterback and understanding the things that they do have making sure they're appropriate based on the client and then making sure that all in all makes sense going forward and there's other areas beyond that when you talk about holistic financial planning  you're looking at not only the investments themselves but what happens down the road and what it comes down to a lot of folks think that what do you live off of in retirement well hopefully social security is there was never met and designed to be you know one stop  retirement plan for everyone so security it's just meant to be part of the total picture but people think that they live off of a lump sum what i mean by that is let's just say they have five hundred thousand million dollars they're going to live off of that lump sum and basically sell their investments over time to meet their essential expenses to meet their other expenses things they like to do the occasion so and so forth but what you're really living off of in fact is the income that lump sum produces so what i mean by that it's not the lump sum itself it's the income that it produces so let's just say someone had a million dollars and i think back an interesting story when i was in high school many moons ago not if you know reveal why age is this or what but anyway i had a high school teacher junior in high school and he said he said you know what someday you're all the millionaires and billionaires great now i'm not downplaying a million dollars is a lot of money but it's a matter of what is that million dollars going to do for you so for instance you have a million dollars on this using outfitter as an example more than anything else let's just say you get reasonable rate of return forty five percent years ago we could look at well we tried to get seven or eight percent but the markets but now when you're in retirement you have to be more conservative so let's just say that it's going to generate four or five percent that million dollar investment portfolio we're looking at generating off of the principal forty to fifty thousand dollars a year that complemented with any type of pension and pensions are basically gone for the most part most companies that offer them  today companies that have offered pensions in the past sometimes are having issues with those pensions that couple with social security you're going to use that to pay your essential expenses and lifestyle expenses and in most cases people actually spend more money after retirement than they not running out of money in a lot of cases people run out of money long before you know they've run out of life they're living two or seventy five eighty or better he did not a whole dances and the funds that they had put aside over and over the years is not enough to carry them through know folks are getting less than one percent maybe half a percent because they have really haven't spent the time to look into what where they could invest and or more and not necessarily have the volatility or safe place to put your money and still have it be conserv horse get back on it again learn how to ride you know how to do that but they may have had a bad experience early on they may have had someone of their family who had a bad experience or early on and it shapes your whole mentality as far as investing in finances that type of thing go down in value everything doesn't always go in the same direction and the whole key to diversification is the penny when your age to have money and differ you know he's had money in stocks have money in bonds have money in mutual fund s perhaps in the insurance side variable annuities things that nature the whole financial spectrum of investment has changed dramatically over the years so it's not just because that one experiences you can expect everything always to make money which is why you have it in different to do better than others during different times and then they change things go in cycles but if you don't have your eggs in many different baskets and it's all in one basket well then you're at the whim of whatever happened with that ship at sea the sales wherever it takes you at that point interested the reason that i stood up question was because you see a lot of people they have i mean happened to me before like let's say you have five thousand dollars that's all you have and you said do set limits in terms of what they will take as far as a client bringing a client on having x amount of dollars assets i don't ascribe it myself you can't always be all things all people but i'm in the business industry of helping people that's why i do what i do and you can certainly start out with a small amount it's just a matter of once again we talked about earlier getting started and you can start with a small amount but you have to start you know with with something even if you're doing a dollar cost averaging program which simply means you're putting x amount of dollars in let's a mutual fund in a monthly basis and investing systematically that's that's a start but what i can't you what i can't do is you know take that five thousand dollars or so return in a fifty thousand or one hundred thousand that that's a benefit of time people the reason why people pull back well i say i think one of the reasons why people pull back is procrastination in general and i think there's always going to be a better time where they may have had their bad experiences somewhere along the way where they lost money in something they were number one enemy in terms of investment or people don't know they left from the right when it comes to financial knowledge now a lot of people just see people in the industry your past you know i don't want to approach them i don't know what you would tell me i don't know what i do want to dig deep into my financial claim i really wanted to help people out of a whole lot of them are how the right i meet them all the time they don't know what to do with their lives and don't want to come to finances i really want you to talk about well i would say a lot of the has to do with just going out there on your own in part on the right kind of person to work with and that may not necessarily be the first person that comes along as i mentioned earlier in our conversation that most people find their way to me through referrals of clients are happy with what they happen but what i see it a lot of cases well even though we all have the best intentions on the same family members i work with some people sometimes and i hear them say well my so and so recommended this my buddy and that recommended this my cousin recommended this and i said that's great they do care about you and they're concerned about you know reaching your full financial potential but a lot of cases that is vice that's coming from that folks and they know less than maybe the person is looking for the advice themselves a lot of cases so it's a matter of going with me you know introduce yourself to several different people and what i tell prospects is you know what you want to meet with one or two where you maybe even three different visors you want to make sure that it's first of all it's a good fit for you in terms of personalities and it's also a good fit in terms of the goals that you're not only trying to establish yourself but have someone help you with those goals because a lot of cases they don't know what the goals are what are their goals once again we talked about a lump sum living off a lump sum or living off the income a lump sum produces well how do i get to that lump sum how do i get there and how do i make it through that retirement period which a lot of cases can be thirty forty years or more you know those people are living longer do metal cool dances and so you really i think a lot of the comes on to the individual investor taking responsibility for their financial future in talking to right people asking the right kinds of questions had someone the other her and we took a look at what some of things you had and we started on the very first meanwhile you know what dr derrick you should be invested in this this this and this well really how can i say that without knowing what your full situation is not not knowing what your make up is is far as your financial weirdness as far as the risk tolerance and what your timeline is for retirement and all aswell but also asking this question based on the fed that a lot of people come in and you somebody we just heard them or i can help you'll make twenty five percent forty percent i don't think you can ever say that i think first of all in our industry we're not we we're not we're not have the ability to make guarantees we should make air teas because you can't guarantee the only guarantee she could possibly have with investing is if well there's an old saying it's kind of funny people left out it is have my money in a mattress at home that kind of thing where rogers the famous historian not really rogers dale evans he said i'm not as concerned with the return on my money investments as a return of my money so there's a lot of risk rewards to go along with things and you really have to be careful but i think it comes out to a matter of trust because as you know it takes a lifetime to build up trust in some cases and one particular experience could have the trust of babri so what you're fighting right what makes it good financial advice i think someone that's a good listener and part of the whole thing is understanding who you're with because i could give you the best investment ideas in the world if you're not comfortable with them the bottom line is on the comfortable with that so i can tell you what works over time what works in different situations but i tell everyone that i meet with i work with you have to be comfortable with what i'm recommending and a lot of cases i'll get in this is not a good thing it's a good thing that people say it but it's not a good thing and they'll say well whatever you think you know whatever you think that's what we should do is we should do well you know what there's a certain amount of that goes along with that but i want the person understand as much as they want to understand what types of investments are being recommended what the risks are with those investments are very importantly what the costs are as well because a lot of folks to understand what the costs are and if you look at the area for instance there's lots of good companies out there that have very low expenses for their investments and it is a matter of how low the expenses are because there is also some historical facts out there that most folks who do it on their own and time over the averages are less than two percent returns that they make the reason for that is they invest in the wrong types of things they read that's the wrong time to try to time the market and i see mentioned earlier it's not timing the market it's the time in the market that's important i think i can portfolio you know you ask my permission for days before you go into debt so i didn't love that i just wanted my least not to know that you are my thanks and a financial adviser and you have really i mean i can see where i'm going find i surely since you do message for my listen up please i want you to use opportunity to speak to my listen dr tucker i appreciate you saying that i would say you know it's like anything else if you do not have a plan there's a saying that you don't have a plan let's say you're planning a trip we're talking of planning retirement planning a trip if you don't know where you're going anywhere it will take you there it's the same thing in the investment world if you really don't know where you're going you could wind up on many different pass and chances are you're not going to wind up in the right place so i find just the fact that the years i've had experience and i don't have the answers to everything and one thing i think it's also important that trust area is also being honest with people if you don't have the answer to question or something that you all on your own you will basically find the answer for them i think the trust is so important the experience levels important and the experience of getting started is probably the most important  financial investment i would say you know we talk about the youth of today i think the biggest thing is not looking at everything as it is a quick get rich scheme it's about making sure that you're in the right types of investments that you listen to someone that's been there that has gone through different market cycles that understand how the investments work allan your stance how time works on their side they can help you reach what your goals are but the first part about it is is finding out what your goals are why and a lot of