Align Your Financial Goals with Your Other Philosophies and Beliefs
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Align Your Financial Goals with Your Other Philosophies and Beliefs
Hello everybody. This is Dr. Bob Hoffman from The Masters Circle, and I’m so glad you joined us today because we have an interview that is going to change your financial world once and for all for the better. Today I get an opportunity to discuss this with Deb Wilder, who is a bank on yourself professional, and she has some information that I’m begging you to sit tight, pay attention, take out pen and pencil or a keyboard because you’re definitely going to want to take notes. Deb, welcome onto today’s conversation.
Thank you, Bob. Thank you for having me.
My pleasure. So Deb, there’s a lot of financial advice out there. We hear of special products and methods and strategies that might make us wealthy, allow us to work to a reasonable age and then offer us a dream retirement, but then reality sets in because that rarely happens. Rather, we’re left wondering why we haven’t met our financial goals, why we have to work longer than we anticipated, and why so many people are putting off their retirement. Could you talk a little bit about what that disconnect is? Because once we know that we could probably fix it.
The disconnect is all about misconceptions. It’s what’s marketed out there, what you believe, do you believe what you see. You pummeled out there with everything, with all the TV commercials and the radio commercials that you could make and be wealthy and just put your money in here, put it in gold, put it here. You’re going to be all set. But is it reality? It’s a hope and a prayer. Nobody wants a hope and a prayer when it comes to their own financial wellbeing. So we deal with these types of misconceptions and it comes down, believe it or not, to basic math. So lemme ask you a quick question. Where in the financial world does it say that you have to lose 30, 50, or 70% of your money during a stock market crash in order to actually make money later on?
Why would we want to do that? But it’s taken for granted that that’s what we kind of have to go through and we just hope that it doesn’t happen. Where is it? If I told you that if you made on average 8% a year for five years, that you could actually lose money in the fifth year, by the end of the fifth year, how can that even happen? My financial advisor told me I’d make 8%. I have to be doing okay. These are all misconceptions and the way math and percentages and how the traditional conventional financial planners work. This is to their advantage so that you stick with them, but it’s not helping your bottom line. So that’s what we try to get past for that disconnect.
I’m so happy to hear you say that because not only do I agree, but for most of us watching or listening to this, what we’ve discovered the hard way is conventional thinking usually doesn’t work well and it’s thinking outside the box, being a renegade of sorts and your program isn’t about being a renegade, it’s just about thinking and acting differently than the people who make money selling you financial tools have a best interest in. So let’s dig a little deeper. From your perspective, and you’ve been doing this a long time, what are some of the most important things people need to consider regarding their current finances and their financial future?
Well, the number one by far is longevity risk. What if I live too long? Am I going to have enough money? Number two, what if I get sick? Is it going to take all my money that I’ve worked so hard for? And number three is that darn inflation, are we going to handle that as time goes forward? Those are the three main things for the future, but for now, it’s wow, I’m working so hard, I’m saving. I really want to buy a car. Where do I get that money from? Should I take from my checking account? Do I sell a stock? Where do I get that from? And then how do I replace the money that I just used? I wish it would be working for me. Well even bought the car. What a concept. Having put your money to work before you use it. Think about that. Put your money to work before you use it. This is a concept that is a very different way of thinking about money, yet it’s been around for a long time. Generations.
One of the things that I so love about your work and your way of dealing with finances and wealth accumulation is that it’s guaranteed you’re not playing the stock market. You’re not gambling, you’re not hoping against hope that there isn’t a recession or a crash or some devastation taking place, that there’s guaranteed income day after day, week after week from day one, and that you can control your financial future. I love that.
Absolutely. I work in the guaranteed world only. I’ve always wanted to work with people’s money and I was always afraid to, I came from the computer sector. I was a computer programmer first, but I loved working with money, but I was so afraid that if I put you in I B M and it went down, you’re going to come back and sue me. I couldn’t deal with that. When I found out about this, I said, wow, is this really for real? And I’ve done it now for 18 years and this is my retirement now. I have no questions about how it can work because exactly what you said, it is guaranteed I cannot go backwards. As a matter of fact, it’s extremely boring what I do because your money only goes in one direction and that’s up. It’s never going to go backwards.
And you could predict in advance how much it’s going to go up and what it’s going to be worth a month from now, a year from now, 10 years from now. You know that in advance because it is guaranteed.
It’s guaranteed, it’s minimally guaranteed. It has projections that may be better, but it’s not going to be any worse. But most important, it’s going to allow you not to outlive your money. You’ll have that constant paycheck coming in after retirement that is going to be sufficient enough for you to maintain your current lifestyle and provide inflation protection by giving you even more money each year. Isn’t that what we all want?
That’s exactly what we all want. Now, Deb, on another way or another angle at looking at this is I was one of a handful of people who brought to the chiropractic profession the concept of backend services. How do we generate passive income through our staff? It could be in selling supplements or exercise or diagnostic testing, but really that’s only a small part of what passive income can be. Can you briefly talk about passive income in terms of the doctor’s future?
The number one thing to remember is that you first have to think differently about money. And this is something we have not learned at all in high school or college. And usually people find out about it by overhearing a conversation or looking on the internet and suddenly, oh, by accident, what are you talking about? So everyone hears about, gee, I got to put my money into a 401K or a 403B or a traditional IRA or Oh, I’ll do better. I’ll do a Roth IRA oh and for my kids’ college 59s, and I’m going to live off of that in addition to the inside world of my supplements that I’m selling. I’m going to be able to have it afterwards when I retire, but it’s not necessarily going to be there, at least not the way you think it’s going to be there. So it’s nice to know that if something is guaranteed to be there that isn’t that the best form of passive income where you wake up on January 1st every year and say, I’m good for the year, it’s going to come in because it’s guaranteed. But you have to think differently about money. And this is part of what I like to explain to people.
No different than US chiropractors who think different about health and sickness than medical doctors would as an example. It’s a different paradigm, but once you learn it, it’s so obvious it’s going to so resonate with you. It’s unbelievable. And where could you learn it? Well, I got to let you know that super conference is coming up October five, six and seven in Buckhead, Georgia, right outside of Atlanta. And Deb is going to be one of our keynote speakers and she will go over the details with you, explain the process with you from stage. Her and her team are going to have a booth there the entire weekend. You should and could meet with her, learn about this, have a personal analysis of your finances done, and have her and team help you set up a system for you to have guaranteed income. You could borrow from your own money.
You don’t need to have a bank anymore. You don’t have to take out extra money on your credit cards, you don’t have to pay interest. You don’t even have to pay back your loan even though you should could set up your own payment plan. There are so many benefits to what you do, Deb. It’s mind blowing for people. But as you said, it’s a different way of looking at things. If you wanted to leave the audience, Deb today with just one thought about what you’re going to be presenting at SuperConference October 5, 6 & 7 this year, what would that one thought be?
I would say that you would want to align your financial goals with your other philosophies and beliefs and beliefs just like in your own profession. And you don’t want to take the financial advice that’s just given out there and believe all the hype you need to do your due diligence in order to make this work for you.
Beautiful. And just one last note I’d like to throw in because I made the comment that the people who try to educate us or the people who are selling us, you don’t have to pay Deb one penny. She will do all this service. She gets paid by the company she works with, not through you. This is a no lose all win proposition and I hope you’ll register for SuperConference and I hope you’ll attend. Deb is one of many of our amazing world-class speakers who are going to give you a focus on the future and how to change your life for the better forever. Deb Wilder so much, I appreciate you. Thank you for being on today’s call.
Thank you, Bob.
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