J.L. Perkins Wealth Management

Dave Ramsey has earned a lot of respect among savers and investors over the years as evidenced by his enormously popular radio show, books and sold out performance venues when he speaks. But is all of his advice worth following? Is it possible that some of the things he professes will actually hurt you financially? Let’s take a look at some of Dave’s most popular advice and see if and when it makes sense for retirees and pre-retirees to disagree. https://jlperkinswealth.com/ep-19-should-you-be-wary-of-so/

The latest podcast is up. Life events and the changes that come with those situations is our main topic. Click to listen and don't forget to subscribe wherever you get your podcasts and you'll be updated when new shows post. https://jlperkinswealth.com/ep-17-life-events-that-spark-m/

I sent this email to my clients for continued perspective this morning. Of course I didn't include the entire email so this doesn't include the video commentary I reference. Coronavirus It's been a crazy 2 plus weeks in the stock market. If you didn't see the video email I sent addressing the situation, there's a link to that video below the Foundation- Walls- Roof video at the bottom of this email.... My opinion on this hasn't changed. While we can't discount it totally, I believe the media is to blame for the hysteria and that has had a direct impact on the stock market. The media hates one politician and continues to create stories on a daily basis. Last week, Fox 24 (here in Macon) called me and wanted a statement from me on the coronavirus. I chose not to return the call because I have no idea how they would position my comments. My opinion also doesn't matter to the masses in their viewing area because I am not an infectious disease doctor. Why we interview celebrities and sports figures is beyond me. Here's some more perspective: Mid year pullbacks (or declines in this case) are pretty common. However, these usually happen over a period of months so the decline doesn't seem as severe. In this situation, the declines have happened much, much quicker. This seems to sting more. However, I have yet to hear from any credible source that this is a long term event that could last a year or two. Fundamentals are still good and I am confident this won't be a long term event. If you think you have to do something: Call me, we can talk about your specific situation. Most of you are aware of the foundation, walls, roof concept. (If not, watch the video below). Remember, you gave the money in the roof permission to lose money and that is what is happening. It will come back. If you are still working and contributing to a 401k, you could consider making your contributions go towards the most aggressive thing you have access to. Internationals and small cap companies are suffering the most, so when this is over, they will rebound and you will own more shares. When this is over, you could also move some money from the the walls to the roof. This is why some of you have an annuity for your foundation: The main job of annuities that we use for our clients is simple...don't lose money. Sure they do other things, but not losing money is the number one job. When this is over, you could also consider moving your penalty free amount to the walls or the roof and buy back in while things are low. This is a temporary news story that will eventually go away, but in the meantime...wash your hands and sneeze into your elbow pit. Hopefully this is something that we all do anyway.

Dr. Drew nails it. Great perspective on the coronavirus. The media does not know how to report this. His summary...they don't know what they are talking about as it relates to this subject and their portrayal leads to hysteria. I would also add that I do believe that a segment of the media knows exactly what they are doing and are doing so in a very calculated manner for political purposes. https://www.youtube.com/watch?v=PWY0oZV51VY

The longer I do this, the more I realize that most folks who call themselves a financial planner, spend 95% of their efforts on a clients’ investment account. While that is important, what clients really need are solutions to problems that people in retirement face. Income planning, tax planning, healthcare planning and legacy planning are areas that are frequently ignored because it’s not as sexy as a broker promising a return on an investment.

Which way do you think taxes are going? This picture tells the story. As baby boomers age, there will be increased pressure on Medicare, Medicaid, and Social Security. If you don't have a plan to address this, you should. This is one of the things we help our clients with. Call us if you are ready to take action.

3 pretty good rules.

Social Security Misunderstandings is the subject in the latest podcast. It's available on our website or your favorite podcast app. Just search Macon Money Podcast. https://jlperkinswealth.com/podcast/

The latest 2 shows are up. Check out the Macon Money Show podcast. Nov. 7th- Awkward Conversations in Financial Planning: It's not fun to talk about what happens financially as people age and when they die. However, the conversations are crucial to have with your family ahead of time! ... Nov. 21st- Retirement Constants that Affect Everyone: We talk about some of the things that almost everyone will face in retirement and how to handle those challenges. https://jlperkinswealth.com/podcast/

November is National Long Term Care Awareness Month- Nobody likes talking about it and no one wants to buy a traditional long term care policy. Our clients are invited to attend our Generational Planning Client Event Nov. 19th. They will learn how to protect more of their assets in a long term care crisis. Clients click here to register: https://jlperkinswealthmanagement.activehosted.com/f/3

Not much gets my blood boiling like the ads from stock picking gurus wanting you to put your life savings into some company that is going to explode with potential and give you a dream retirement that you can't afford right now. It's garbage and the people who sell this idea are garbage. The idea that they know some secret that you can pay them for is a lie. Sexy and shiny sells. Investment plans for our clients are boring... but they work.