Rebecca Sounds Reveille – Success Is Not A Lot Of BULL! – With Guest: Financial Planner, Business Adviser, Author, etc…, Eddie Ghabour
*** WATCH THIS SHOW BELOW INTRO ARTICLE ***
Everyone defines success a bit differently, but often the first thing that comes to mind is that those who have achieved it are driving fancy cars, live in massive houses, and are famous beyond belief.
On this episode, Rebecca talks with guest, Eddie Ghabour, co-owner and managing partner of Key Advisors Group, LLC. Eddie graduated from York College of Pennsylvania with a degree in Economics and Finance and in 1998, he began a successful career in financial planning. In 2000, he started Key Advisors Group, LLC with his business partner and since then has qualified for the prestigious, MDRT (membership is based on sales criteria), Court of the Table, and Top of the Table honors each year. Eddie is an Investment Advisor Representative who offers investment advisory services through WFG Advisors, LP. He is also insurance-licensed in Delaware and author of The Common-Sense Bull, The Keys to the Good Life Before and During Retirement
Specializing in money management, Eddie also focuses on retirement and estate planning strategies for his clients, He works with local CPAs and attorneys implementing tax saving strategies to help clients protect their hard earned assets from unnecessary taxation. He is also a member of the local Chamber of Commerce and The National Association of Insurance and Financial Advisors.
Eddie, his wife Lauren, and their sons Eddie and Elijah reside in Milton, Delaware. In his free time Eddie volunteers as a coach for Lewes Little League. When Eddie is not working or coaching on the baseball diamond he can usually be found enjoying the sun at the beach, or on the golf course.
Rebecca and Eddie focus on sharing the importance of helping and inspiring others and how one can start right now to create success. There are key things viewers can do from the time they watch the show, such as, think and write down what success means to them, that will begin to lead them in the right direction, having a coach or mentor (something Eddie truly believes in a lives his life proving this is essential), but there is more. Tune in to learn more!
Eddie Ghabour, financial media personality and Author of The Common-Sense Bull sees growth plus Opportunity in 2019 stock market for baby boomers.
Eddie – “I WANTED people to grasp a sense of building their best retirement plan – what specifically they wanted and needed in retirement because, in many ways, I’ve built a very successful practice and life by being deliberate about what I wanted. I can help them focus. For some people, their dream is a lot of travel and exploration of hobbies throughout retirement. For others, it’s about preservation of capital while they maintain a simple but happy routine near home. Advisers who read the book will realize there is more to financial or retirement planning than getting a particular’s clients’ affairs in order to meet their minimum requirements over the next 20 – 30 years. I want advisers to take a stand about who they are and how to incorporate their income skills into their daily practice. For me, it’s been my roots in Slower, Lower Delaware that defines who I am while still making sure that my message gets out nationally to baby boomers through my workshops and national public relations interviews. People should be able to retire without feeling as if they need to “get out of the markets” entirely. The common sense bull puts it all into perspective understanding when you can be bullish, when to “buy” when opportunity presents itself, and when to rely on a broader sense of stock market history.”
“The Common-Sense Bull” The Keys to the Good Life Before and During Retirement, Release Date March 19th, 2019
This is why Americans don’t save — even when they know better
The journey to retirement can be perilous, Americans know they need to save for retirement, but find it difficult to do so.
Todd Kunsman started preparing for retirement in 2011, only a year out of college, but he didn’t take it seriously until three years later.
He had been contributing to a 401(k) plan, but not enough for a match. He’s moved companies twice since then, and has rolled his assets into an individual retirement account. At his current job, a startup, he doesn’t have a defined-contribution plan, but he maxes out a Roth IRA. “For me, a Roth IRA of $6,000 a year is really not enough,” he said.
Kunsman, who is the blogger behind Invested Wallet in addition to his full-time job in marketing, is saving about 60% of his income and working a side hustle. His goal is to retire in his 40s, if he chooses to by then. He’s had to overcome numerous hurdles first, including paying down student loans, increasing his income, learning more about investing and putting away retirement savings while also living on his own and paying off his car. “I left money on the table without realizing it because of my financial illiteracy at the time,” he said.
Not all Americans may be as focused on retirement savings as Kunsman, though they might agree it’s imperative.
Americans say having enough saved for the future is just as important as good health, but not all act like it.
Almost eight in 10 Americans said putting away $250 in savings was more rewarding than losing 5 pounds, getting all their chores done on a Saturday morning or getting a good deal on a purchase, according to a PurePoint Financial survey of 6,000 U.S. adults. But they also opt for convenience over savings, including spending more on transportation or food to save 20 minutes, and rather making a quick buck than seeing greater returns in the long run.
Four in 10 identify themselves as “aggressive short-term savers,” where they excel at putting money aside for a specific purpose, like a trip or wedding, but aren’t consistently setting aside money for the future.
See: How to use mental tricks to save more for retirement
How people manage their finances, and actually save, will naturally translate into how much they eventually have in retirement.
“Unless you’re approaching retirement, you are not thinking about it,” said Pierre Habis, president of PurePoint. “You’re probably thinking it will take care of itself.” Part of the problem lies in habits — a third of survey participants said they’d rather take $1,000 now than $3,000 in a year (especially among millennials) and fewer Americans are saving with a direct deposit.
The PurePoint Financial research also found Americans don’t shop around before parking their savings in a bank. Almost half chose the same institution where their checking account was, and 73% said they are not actively looking for the best rates for their savings. More participants also reported physically saving money in their homes in 2018 than in 2017. Either of these options result in weaker earnings potential, from investment returns or low interest rates, which could cost them thousands of dollars saved for retirement.
Unfortunately, not all Americans can afford to save for retirement, let alone shorter-term goals. Some American households postpone saving for retirement until they have an emergency account, yet more than half of households said they didn’t have enough to cover three months of expenses, according to a Government Accountability Report. Low-income households with access to a retirement account had significantly smaller balances than their wealthier counterparts. Women and minorities were more likely to have less saved because they have lower incomes than their male or white peers, the GAO report found.
When a MarketWatch story about 30-somethings saving for retirement went viral because of a suggestion that 35-year-olds have twice their salary saved for retirement, many millennials argued it was impossible to save even a fraction of that, because of crippling student loans, high rents or mortgages, low wages and numerous other financial obligations in the present day.
Not all workers have access to a retirement plan, either. Only 14% of employers offer plans like a 401(k), according to U.S. Census Bureau researchers, and they’re likely larger companies. Some states have stepped in to help employees without retirement account options, by offering small businesses individual retirement accounts they can provide employees (and in some cases, mandating it).
Also see: This is the best way to save for retirement, spend less and lighten your tax load all in 1 fell swoop
Americans are increasingly responsible for their own retirement, as the country’s private-sector employers have shifted away from pensions to defined-contribution plans, like 401(K) accounts. One in three retirees are very confident they’ll have enough saved for retirement, but that’s based on how they perceive their financial status with no clear indication that it’s true, according to the Employee Benefit Research Institute. More than two-thirds of workers without retirement plans had less than $1,000 saved in 2018, whereas 29% of those with plans had $250,000 or more, EBRI found.
Feb. 25 through March 2 marks America Saves Week, where banks, financial institutions, government and nonprofit organizations aim to motivate Americans to save more. Resources include creating savings goals, setting up automatic deposits and establishing emergency and retirement accounts.
Actually planning to save for the future has significant consequences, financially but also emotionally — more than 54% of people who had not thought much about retirement rated their retirement years as “not good,” according to a 2015 research report by Annamaria Lusardi, an economics and accountancy professor at the George Washington School of Business. A majority of respondents (68%) who did think a lot about retirement rated their retirement as satisfying.
The sad truth is most Americans’ do not have a plan in place that they follow diligently to achieve financial independence.
There are allot of social pressures out there these days to “keep up with the Jones’” and this will bight them in the end.
If individuals would set the time to meet with a financial professional and build a detailed financial plan and hold themselves accountable financial independence is easy!
The problem is many wait until it’s too late vs starting young when you only need to save a fraction of what you would have to later in life.
People need to invest time in educating themselves because with the right plan and discipline they can achieve levels of success they didn’t imagine possible.
Bottom line is people need to sacrifice a little today to reap the rewards of retirement or they will have to work forever.
Watch this revealing discussion …
Find out more about Eddie, or contact him at the links below:
facebook: Eddie Ghabour – Author
Twitter: Eddie Ghabour
Linked In: Eddie Ghabour
Website: The Common Sense Bull
amazon: The Common Sense Bull (book)
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About your host Rebecca L. Mahan: Rebecca is The Liberty Beacon Project Media Director, Host of TLBTV’s Rebecca Sounds Reveille, a United Stated Marine Corps veteran and a retired police officer of over 10 years. Rebecca is a published author and had been a long running columnist for a community college newspaper. She has also been an award winning radio show host and has produced, booked, and interviewed guests for her shows. Her education includes: Associates degrees in Christian Studies, General Education, General Business Management, and Law Enforcement. Rebecca also has a Bachelor’s degrees in Church Ministry and Occupational Studies -Vocational Arts, as well as a Master’s degree in Biblical Studies. She is a certified Mediator and Event Planner.
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