Ep 65: The Looming Recession's Impact on Retirees
The X's & O's
Whether you are talking about inflated prices of grocery lists or the struggling stock market, the conversation of an approaching recession is all around us.
In this episode, Matthew Theal, Brent Pasqua and Joshua Winterswyk of RPA Wealth Management, discuss common questions and concerns when potentially approaching a recession. Together they break down the nerves of working in an unhealthy economy and entering into your retirement.
The Hosts:
Brent Pasqua, Matthew Theal and Joshua Winterswyk
Transcript
Welcome to the retirement plan playbook with Brent Pasqua, Matthew Theal and Joshua Winterswyk from RPA Wealth Management. In this podcast, we cover current events, retirement planning, straps. And provide you with the tools to help you build a successful retirement playbook in any political or financial landscape.
Join Brent, Matthew and Joshua as they navigate the issues that can make the later stages of your retirement plan challenging and help you create the best retirement plan playbook. Now let's get to the show.
Welcome back to the Retirement Plan Playbook. We are. Well, I should say we're almost back. So we wanted to update all the listeners on what's really been going on with the show and want to let everybody know that we've been working on bringing in a new podcast team, uh, to help support the show, to make it better.
And we spent the last few months prepping it and we're almost done ready to get the show out. Uh, there's going to be a lot of changes to the show that I think most people would probably enjoy. Um, you'll start to soon start hearing a lot of those new updates. Uh, You'll have a few shows with a host.
You'll have some shows with a guest, you'll have shows with just the three of us, but we're definitely working to make the show as best as, as we can and bring, the content that the listeners want to hear. Yeah, I'm super excited. Uh, we, we have a podcast team now around us with Aric and Rebecca, um, who are working remotely, but their goal is to make our show better.
And, um, I miss podcasting with you guys. I'm happy. We got the Mics goal and it's turned out. We're recording right now. Uh, I'm ready to do a show. It's been a little while. I'm ready. I'm back. Matt, did you land as a sponsor? Well, we haven't landed a sponsor, but I would love one. Um, you know, anybody wants to reach out Charles Schwab, TD Ameritrade, sponsor the show.
Um, that'd be great. I think we can put some like sponsors in here, right? Like to act like we have some like big sponsors. I mean, collaborative tax partners would probably, uh, happily sponsor our show. Yeah. Which is our sister company for a tax company. So I guess let's get in, uh, to the show. So a lot has happened since we had last spin on it.
And we wanted to kick off the show with some of the new hot take headlines. And there's been a lot going on right now with Elon Musk and Twitter. And it's been a big story in the news what's happening with that whole situation? Yes, this is, this is a pretty interesting story. Um, so a couple of weeks back Musk announced that he owns 9% of Twitter stock.
And so he purchased this in the open market, just like any of us would, would go purchase a stock. And he got his ownership stake up to 9%. Uh, once this was announced and filed, the Twitter board, offered him a seat on their board of directors. Yeah, first accepted it. And then he thought about a little longer over the weekend and rejected the board seat.
Why this is important is because when he was a board member, he wouldn't have been able to buy the whole company. You're limited to what, like 15% under his ownership stake would have been limited. So he rejected it. And then a few days later, he offered to take Twitter, private at $54 and 20 cents a share or $43 billion.
So he announced this, the stock went up and a few days later Twitter's board enacted a poison pill. And the way this works is it dilutes Muskett share of stock. If he gets over a certain percent. So then he can't buy enough stock to actually take the company public, basically just a strategy from the business to try to stop him from buying the company.
Exactly, exactly. And so then what happened was Musk announced via of course Twitter, because that's how it must does his business that he was thinking of doing a tender offer for Twitter shares. And what that would mean in the simplest way is that all Twitter shareholders would get to vote If they want must to take the company public at 50 private, excuse me, at $54 and 20 cents a share.
And that's where we are today. Um, as of recording, um, Musk was trying to buy Twitter. Now didn't the Vanguard group, come in and buy a bunch of shares to try to dilute the shares. And do you know what happened with that? I, I didn't, but Vanguards, there are passive ETF firms, so they're, they're most likely just buying the shares to fulfill their requirements and their ETS.
Yeah, I don't know much about the Vanguard purchase either. It, this story has seemed to get political though, too. It's like taking on all these different elements, right? Like, it's not just trying to fix Twitter, but then it's like censorship, and now it's like taking on all these other arms that you're hearing a lot about.
And everyone's speculating on like, why Elon Musk really is doing this. And. Really wanting to move forward with this purchase and then it becomes political. Like you said, I thought the, uh, funniest thing was, I saw a bunch of tweets and memes and, um, even articles in like well-respected publications.
Uh, I'm talking like Wall Street Journal, business, insider Axios, like some of the top business publication. It said Evil Billionaire Musk tries to take Twitter, private. And it's like, every media company is not owned by a billionaire, named me a media company that is not owned by a billionaire.
You can't Jeff Bloomberg. I mean, the list goes on and on. Yeah. He just doesn't have one yet. Well, what's interesting is this guy is, Elan's gonna pretty much own the roads. He's gonna own the sky. And now he's gonna own communication, which is pretty interesting. Yeah, you guys amazing. Yeah, he's a very intelligent, brilliant mind.
Uh, the fed reserves, uh, are raising interest rates and they raised them in March. Uh, there's potential that they're gonna be raising them again in may. Uh, what's going on with the federal interest rates. And why do they plan to keep raising rates? Yeah. So we've been talking about this on our previous shows.
Um, earlier this year, I think in January and February talking about how the fed was planning on raising rates, they finally did it in a March. They raised them a quarter basis point, which is 0.25%. Now the rumor is coming up with their next meeting. They might do 0.5%, which would be 50 basis points, which is a pretty big hike.
It would be a. I wouldn't call it extraordinary, but it doesn't happen all the time. They usually, um, raising what they call, um, quarter basis points, which will be 0.25 of a percent. Um, and what's going on is we talked about it a few shows ago. There's an election going on. Uh, this year, the Democrats are in huge trouble.
The inflation numbers are high. Everybody knows. Uh, they're polling very, very poorly. The president's approval rating is lower than Donald Trump's ever was, and they've directed the federal reserve to get inflation under control. And that's their only mission right now. So they're going to keep raising rates until inflation is under control and that's, uh, the Fed's most powerful tool is to raise rates, especially when we see inflation where it's at now over 8%.
So, who is this really, really bad for is borrowers. Personal borrower's business borrowers, you know, and the hope is to really contract the money supply and slow down all of the growth that we had. I mean, weren't, they trying to stop the feds from raising interest rates like a year and a half ago.
And the previous administration was trying to prevent them from raising interest rates. Yeah. Because it slows the economy. Um, but it's kind of a catch 22. Right. So when the economy is Slow. They're going to cut interest rates because they want to get money moving. But when the economy is really hot and you have big inflation, like we have right now, then you raise interest rates to pull money out of the market.
Um, and right now the best thing, for this administration and based on the data they're seeing in polls is to get inflation under control. That's really their only hope. Yeah. It's like, they're like, don't raise them. Wait, no. Now let's raise them. Raise. No, don't raise him. Yeah, exactly. And it just seems like inflation is just such a big topic amongst so many people.
So this hot take headline is like polarizing because everybody's talking about inflation and raising interest rates has so many different effects. This is just becoming a huge story for everybody. Yeah. It'd be interesting. What happens now for the, for May and then the rest of the year. It seems like this issue is not going away anytime soon and rates are going up.
So yeah, continuing to climb. All right. So let's get into the retirement planning corner. Uh, it's been a while since we last talked and some of the things that we had talked about that we've already touched on is inflation and the economy since last year. Um, today's show, we want to talk about the looming recession and what it actually means to retirees the confrontation or is creating volatility and speculation or market.
About really what it is, um, that can possibly happen. And how do we combat some of these things? I think a lot of things that is really concerning for a lot of people right now is how is this recession going to impact them? What does a recession actually mean? How long will it last? And you know, if you're thinking about retiring in the next 2, 5, 7 years, is this going to impact you?
And if you're younger, like how do you take advantage of a recession? But we want to get into all of those. A lot of people are asking those questions. So we're going to answer them today. The first thing I think we need to first define, uh, and Josh, you can answer, this is what is a recession. Yeah. Great question.
A recession is defined as two Negative quarters of GDP growth. And I think we should define GDP for people. Cause it's a complex calculation. I know we could probably hear it on the news or when you're reading a newspaper, but it's essentially how economists measure growth in an economy. And if GDP growth is growing, that means the economy is doing good.
And if it's contracting, that means the economy is doing poor. So kind of think of it like a stock I give it's growing. The business is doing well. If it's contracting the businesses, probably doing poorly. Um, therefore when we look at the economy, a recession is when the economy is really contracting and getting smaller.
So are we, uh, in a recession right now or are we heading into the recession? No, we're not in a recession right now. Uh, I'm not sure if we are heading into recession. I mean, some of the indicators are there pointing that we are, um, that said this would be the most talked about recession. Uh, the Mo if you look at recessions, they're usually not talked about like this one.
So it's like, everybody's predicting, we're going to go into a recession. Um, I, I'm not sure it's actually going to happen. And just to know, I mean, 2020, we were technically in a recession. And now we're, we have so much buildup, um, about so many economic. Indicators suggesting that we're headed into the recession, but I think it's a really good point that you guys make that we're actually not in one yet, even though everybody's talking about it.
So let's assume either we go into a recession or we, work, tweet, tittering that line of being in there. Like how long does a recession typically last that's a great question too. So since world war two, the average, your session has lasted about 11 months. And so what does that actually mean?
I mean, If it lasts 11 months, like what happens before that? What happens after? Well, now, then we're no longer in that negative, um, measurement of growth within our economy. Now we've exited the negative growth and we're back to actually growing and it become positive. So we've actually exited that technical term of recession.
So I've been in this industry now since the early two thousands, I like to concern myself a gray beard and. The thing about recessions is when you're in them, you usually don't know it. And by the time you're out of it, you still think you're in a recession. Uh, it's usually the economic data lags by months.
And so all these people who try and predict recessions and say, we're going into one, or, say we're still in one when we're really not. I mean, they're really just making it up. Um, we'll see it. If it's like 2008, you could tell 2008, but most likely this is not going to be like 2008.
There'll be small. You won't even really notice it and we'll be out of it before, you know it, I think you'd make a great point though. Is that like even heading into a recession, we don't know exactly how long it's going to be. We don't know how big it's going to be as far as like negative percentage points.
So, again, like you said, it could be a really small recession and we're in and out of it before we even know it. Um, or it could be longer in, in larger, but again, it seems like there's a lot of news and media suggesting that it's for certain and they know what's going to happen, but we know that that's not really true.
So can the recession actually impact people worse in the actual stock market or if the recession is bad, does it impact them more under spending and their income expenses? Things like that. That's a great question. It can be both, right? So if you have a stock account and the market crashes a lot from here, yeah.
You're going to get impacted there, but I mean, maybe you lose your job too, and then you lose your paycheck and then you're paying more for goods. So now it's costing you more to live, so it can impact people everywhere. Um, but the stock market doesn't have to crash for there to be a recession. And just like a stock market crash doesn't mean that there will be a recession.
And I feel like things are still so expensive. You know, if you want to do a house remodel right now, you're still paying a high price. You want to buy a house. You're still paying a high price. I feel like the cost of goods, obviously with inflation is really, really high. It really doesn't feel like we're in recession.
Is it just because the economy in the stock market is ahead of all of that and people aren't feeling it yet. Um, I think we're kind of seeing many of our sessions, like if you live across technology, I kind of think technologies in our recession. Um, we've seen a lot of the technology stocks do really, really poorly, especially some of the big winners from, um, the COVID era have really poor performance.
So to name three Peloton, zoom and, um, Netflix are, are struggling to kind of adapt. And then we see other companies like airlines and hotel chains doing really, really well businesses booming over there. Uh, So I think it's possible. We might have mini recessions not a big recession. Um, my feeling too, is that like not all recessions are created equal and not all recessions affect every demographic and in America.
Um, and also like over the last two years through the pandemic, a lot of people paid down a lot of debt. They, increase their savings accounts. They put themselves into a better financial situation because maybe they have been forced to because of quarantine and locking down and everything else.
So you're not seeing like the typical recession behavior of everyone slowing down spending. I mean, even, just look at the housing, market's It's still booming with tons of buyers out there. And you would think that, recession looming that spending would slow down and it's really not.
Yeah. You should see my credit card bill. There's definitely a recession, right. There seems like it's just, everything's so expensive. Yeah, I agree. So we know that there can be different causes of recessions, right? So what are those causes? And what's causing this recession. That's a great question.
I'm Brent. So I looked it up and there is literally no, um, like consensus answer from economists on what causes a recession. And I really think an economist job is just to sit around all day and make, make things up. Like that's literally what these guys do, make something up and make it sound smart. And then go on TV and talk about.
And they, they live in like the probability between 15 and 45%. The probability is never over 50%. Yeah, exactly. Um, but usually around the time we get her a session, there's been some kind of shock that nobody saw coming. So for instance, the 2020, or a recession that was COVID right. In 2008, there was a housing bubble that burst.
But the part that nobody saw coming was that all of these different wall street banks had a bunch of bad debts that caused the recession. Yeah. Um, and then in 2000 it was the internet stock bubble, right? That, that burst a bunch of money came out of the economy. Stock market crashed a bunch of people lost their high-tech jobs.
And we were in there. Then there was nine 11 that followed shortly after that. And we were in a bigger recession. So, it really seems like there's some kind of shock to the system. I'd say if there's one this time, it would probably be inflation. That's what would have caused this recession is the inflation is shock that we're in really the foundation of that though being COVID.
I mean, get COVID really kick all this off. Cause if COVID didn't happen, then we probably wouldn't be an inflationary period we were in that's correct. Yeah. I just think that a lot of people are always looking for like the one variable that's going to Break the house down, but it isn't right.
We could see there's a lot of different variables that formulate what we're going through today. And I think that that's why, kind of just to piggyback Matt's point is no one really knows exactly or can predict exactly why that's going to happen. You know, who's not in a recession right now is that oil companies go booming.
I know they're doing really, really well. Um, so what's going on in today's environments. That's making people think we are heading into recession. Cause I feel like there's a lot of like nervousness out there. There's a lot of jitters who are scared to be in the market right now. It doesn't feel healthy.
The economy doesn't feel healthy. I feel like everyone's kind of like on financial edge. Yeah. I think it's a lot of, what we've been through in the last two years. Um, the government told us to stay away and not talk to anybody for what year and a half, two years. Like don't go outside.
You're going to get sick and die. It's just kinda mess with a lot of people's psyche. Um, and then, once we all started doing things, we realize, oh wow, the cost of everything is going up. Um, and that hurts people. It hurts to spend more for gas or spend more for an airline ticket, hurts to spend more on food prices.
And then we have these shocks going on, like the, Russia, Ukraine, war, which is impacting the price of a lot of commodities. And as those go up, what economists are saying is, okay, the prices for wheat are going higher, or oil are going higher because of this war. That's eventually going to get passed on to consumers and hurting them even more.
Um, from there that kind of causes the stock market to start dropping. That's what we've seen this year is a stock market. That's dropped. And then we have the federal reserve who, um, really for the first time in my career and probably, you know, most people's career doesn't care about the stock market anymore.
Usually they care that the stock market's going up, that's what they want. But now the stated goal is to get inflation under control. And they're going to raise interest rates until inflation's under control. They don't really care about stock market performance right now. It's not their primary focus right now.
Exactly. And it seems like the market does not like to have a rapid inflation and rapid raising interest rates. So it gets okay if it's like slow and consistent, but to have it spike in such a fashion, it seems like it's very shocking. There's just a bunch of new uncertainties, right? Like that we haven't really dealt with.
We haven't dealt with this type of inflation in a while, which we've seen it before in our nation's history, but having dealt with it, the rising of interest rates at this type of rate, we haven't. Change in this new uncertainty has just created a lot of nervousness, like you said, created stock market volatility.
Um, and I think that we're adapting to kind of what's new and going to be here for a little while. So we did, as our last show was in February, when we did that show, the 30 year mortgage rate was around three and a half percent today it's over 5%. I mean, that's how much interest rates have gone up in the last two months and it's going higher, right?
That's bonkers. Not slowing down a lot of buyers though. Yeah. It's not, I mean, it's probably cutting something out and that kind of leads to my next thought in, and that's what most people are asking and that's how does the recession impact them? Time has become more, a little bit more difficult. And again, every recession doesn't affect everyone the same.
We have to know that, but again, with tighter money supply, like Matt said, it can lead to unemployment. It can lead to, uh, lower or use of more of your existing funds because of loss of employment or income. It affects businesses. And especially with interest rates going up, um, with growth, right there might be slower growth within businesses.
Meaning. It might not be getting that raise as well. There's just less money flowing through our economy. Um, so everyone's different, but those are just a few of, uh, how they can impact you. But again, it's not going to impact everybody at the same. I look at the 20, 20 our recession. If you were what they call now, call a knowledge worker, someone who could, work remotely via zoom.
You logging into the computer, you slack with your co your coworkers, the 2020 our session didn't impact you. Actually, you probably came out ahead because you stopped spending money and you got stimulus checks, but that recession was really, really tough on people who worked in the service side, industry, hotels, airlines, restaurants.
A lot of people lost their businesses during that time. And it was really, really sad. Um, so we don't know what sector of the economy. The inflation is the recession is going to hit 'cause. I feel like restaurants could be right in target for this to affect them just as much. Right. Because if people are spending.
X amount of dollars more on gas. Like there's less money to go out to dinner now. Yeah. And a lot of times that's where people cut their discretionary spending is going out, right. Entertainment, dining out. So who's going to be affected those types of businesses. I'm actually going out to dinner more now than I did during COVID, but it's only because of the fees on door dash are so high.
It's ridiculous. Like literally. I could go out, have a couple cocktails with, with my wife, having a nice dinner and it's cheaper than ordering the food in from door dash and making cocktails at home. It's crazy. So what you're saying is your $15 Brito on door dash actually ends up costing you 60 bucks.
Yeah, exactly. Yeah. That's not one of my, our RPA recommends is not, uh, I wouldn't use door dash or, I mean, it, just, to me, that costs is just way too high in those services. Um, so my theory right now, as you look, we're heading into the summer, Everybody wants to travel. Everyone wants to book a trip somewhere.
They probably haven't traveled in a couple of years. And if they did it, wasn't in their ideal trip And going to see a bunch of people take their ideal trips to the summer. And then by the fall, they're going to be cutting everything. They're going to cut expenses. They're going to pay down those credit card bills.
They're going to sell those motor homes they bought in 2020, that costs an arm and a leg to fill up with gas. So I guess then another question I would have is how do people take advantage of the recession? Is there a way to take advantage of this situation? I think first, before we even look at opportunities, It's like, now's a good time.
And when we talk about doing stuff proactively, but now's a good time to prioritize that spending too, right? If we're going to get prepared for a potential recession and things to get more difficult or tougher, now it's probably a good time to revisit, like what's most important and where you're spending your money.
Yeah, I completely agree. And then, um, as of what's taken advantage of there's lots of opportunities in a recession, you know, you're looking for a new TV, probably going to get 50%. Um, golf clubs, usually 50% off during our recession. So any kind of good usually drops in price, right? Not now, but wait a little bit longer.
Yeah. Wait a little longer. I mean, we actually get a recession who knows, right. Um, stock market, the stock market drops, who doesn't want to buy stocks cheaper than they are today. I know I do cause it makes my expected return higher. Um, so we have a good opportunity to buy stock. Um, maybe housing prices decline a little bit and you could get that dream house you want.
But probably not with the rates at 5%, if you're locked in at three. Um, but essentially what it does is it creates opportunities for you to set yourself up better for the next bull run. And one thing I said, I think on the last show too, was, um, if you do have a little extra capital right now, and you could spare a little bit more of your paycheck, I mean, increased.
401k contributions to the front end of this year, a front half of this year, as we know the market's down pretty significantly throughout this year. So far. Yep. Great tip lender, uh, for somebody who is thinking about retiring either this year, next year, maybe three years, maybe even five years is now a good time.
That's a great question. Um, you know, it depends, it depends what your plan is. Depends how you're set up. And if you don't have a plan, I think now's a really good time to get that plan because here's what you don't want to happen is you don't want to roll in the work one Monday. And you're kind of looking around in your office as quiet.
And let's say, you're, you know, you're 61, 62, 63 years old. And your boss calls you into his office and he hands you. He hands you the slip.
Um, unfortunately your careers most likely over, based on your age. And I think that's what planning allows you to do though, is to not be forced into a decision, right? Is a good time to retire. You have to ask yourself is it a good time for you individually with your situation? Like sure.
It might not be ideal because stock prices are a little less than they were six months ago or potentially heading into recession. Where are you prepared? Six months ago? Will you be prepared six months from now and really asking yourself is this a good time for you? Are you prepared more so than what's going on with past economic data or future predictions of where our economy is going?
Yeah. You want to control your own retirement? You don't want someone else to control it. Yeah. And then it starts, it starts with a plan, a plan in place and meeting with professionals who can help guide you to, and through retirement. I think it's hard to not to be emotional during this time because there's so many looming concerns.
And then if you're thinking about, okay, well I need to, have distributions from my retirement accounts and in retirement so that I can maintain my lifestyle. And it's hard not to try to say, okay, well maybe I should just go to cash for awhile, but then you don't know when to go back in. You're concerned about what the market would do, but.
You also need to think about your time horizon, not just to get you to retirement, but you got think of the time horizon to get you through retirement. So you don't want to think of just a short time horizon. You don't want to be in cash, but you don't want to take all the risks of the market. The only way to solve that is by doing proper planning.
Exactly. I mean, you make a great point. Your retirement. If you're healthy is going to be 20 plus years. So that's 20 plus years of your life that you need, your retirement savings is the last year you need a plan in place. Yeah. And if you even go back to our, our statistic recessions last on average, 11 months, 11 months is nothing when you're planning for 20 years.
Yeah. Plus we forgot to mention that recessions happen. Um, every once in every five years, They're going to happen. It's going to happen again. Yeah. So you're probably going to get two or three in your retirement. You shouldn't let the recession impact you, but you know, we're all saying, get a plan, put a plan in place, have an idea.
I agree. Um, okay. So let's get into the RPA recommends. That's really, I think we should all have some really good recommends on deck because it's been awhile since we've done them. Uh, Josh, why don't you kick us off? Oh man, I'm going to really, a lot of pressure for a really good recommends here, but.
I will just start with, um, what we're watching. So me and my wife, uh, have been watching Seinfeld on Netflix. Have you, either of you guys watch that. I've probably seen, you know, maybe an episode here or there, but I've never watched the full series, the whole series. Okay. So like we never had really watched it and my wife or I, uh, it came on Netflix, I think what in the last year, It's new to Netflix.
So, um, we've just started from the beginning and watching them and they're like, you know, like 20 minute episodes. Um, but super funny. I had watched a couple like here and there. Um, but we're having a great time, like going back and watching it and then it's kind of dated, right? Like it aired what, 20 years.
Yeah. Um, so like to go back and see what they're talking about then, and kind of reminisce and stuff like that. So just a good, like Phil funny, good feel-good show to watch. Um, that's back on Netflix that we didn't watch when it originally aired. So it's early nineties biased, right? Yeah. Yeah. That's cool.
So, uh, just like, even like their fashion hair, like it's, it's cool to just kind of go back and watch, um, but really funny. Yeah. So, uh, my recommend is another TV show. So I've been playing around a little bit with apple TV plus, um, if you don't have it, I think if you buy an apple product, you get it for free.
Um, but I've been watching, We crashed the show on, we work really good show. I really like it. Um, who's the actors in that show. It's Jared Leto and Anne Hathaway are the two stars. They do a really good. Um, but basically the show is about, you know, the rise and fall of we worked the co-working space. Um, wonderful show really talks about kind of the access of the let's call it the 2000, um, tens and then leading up to the crash.
Well, we work in 2019, a great show, highly rated. Uh, my recommend is trailing. Your guys is recommend for the last, I dunno, two years of recommends that you guys have been giving. Cause you guys were big golf guys for a while, and then you guys had kids and now you guys are small golf guys. Whoa, but I'm still golfing.
But with all of this, uh, I've been forced to get into golf. I actually played a couple. I've been, uh, playing a couple of rounds with you guys here in. And I needed a new golf bag and, uh, there's a golf brand called vessel. That's absolutely incredible. They make really, really nice stuff, both backpacks and duffle bags and, um, golf bags.
And so I, I bought one of those. I really, really like it. I might not play very well, but you know, at least I looked somewhat decent with it. The bag looks great. Yeah. You are a big golf guy. Cause I mean, you CA you committed our company to, to, um, corporate. Um, golf tournaments this year, which is, we've been working together for 10 years for the first time in the company history.
Yeah. Yeah. We're, we're committed. Uh, we have a couple of golf tournaments coming up and you were fighting the golf thing for a long time. I'm really happy. Or you're kind of starting this golf journey, but your bag looks great. Yeah. I felt the pressure. You look good out there. Your outfit was really nice.
Yeah. Yeah. So, uh, we're happy to be back. We're excited to bring you more consistent and continuous content. Uh, I don't know that it'll be just consistent just yet, but it's coming. We'll be back here very, very soon. And, uh, you guys all know why we do this. Uh, as advisors, we, we truly do love helping people and that's why we do it.
Uh, you can also check out our new and improved website, RPA wealth.com. You can also check out our e-book on our website and on there, you can also get the retirement plan playbook that gives you all the financial steps that you should do. For 10 years, five years or a year out from retirement, and also get information on how to manage your first year of retirement.
Uh, plus, uh, different case studies that are on there. If you'd ever like to schedule an appointment with us, please go to RPA wealth.com and schedule a complimentary consultation. And I, and as always, thanks for listening to the retirement plan playbook. Thank you. Thank you.
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