Excel in Retirement

Did you see the movie the Perfect Storm? I remember watching it in the movie theater. A crew on a ship are stuck out in the ocean when two major storms come together to form a “perfect storm.” The look of horror on George Clooney's and Mark Wahlberg’s faces told it all.

At one point in the movie huge waves are collapsing on the vessel from both sides. Seeing it on a big screen makes a scene come to life. It was like I was right there as the two storms collided. Did you realize that two areas of investor sentiment are colliding now. You may need to be aware of what's going with savers. 

Last year, when the coronavirus created pervasive uncertainty, the stock market got volatile. So volatile that trading was halted a few times. It’s not uncommon for some people to get nervous and sell their investments during market corrections and go to cash. I’ve heard people comment that they were nervous about what President Trump would do, and they did not know how COVID-19 would impact markets. I understand their reticence. Now that Joe Biden is president, some people who were confident President Trump would guide us out of the Covid downturn are nervous that Biden’s policies will stifle economic growth and hurt industry.

In my ten years in this business, I’ve never seen circumstances similar to the way they are now. There seems to be uncertainty around every aspect of life. Devastating storms and blistering cold have consumed much of the country recently. You may be asking yourself, "what’s next?"  I’m fortunate that I get to help people by lessening the impact of uncertainty around their finances. Being able to help people bring a level of certainty to their lives through financial planning is gratifying. 

I meet with people weekly who are distressed about their finances and whether they will be okay. Our ability to help our clients create a greater sense of peace through positioning their assets in predicable financial vehicles can be reassuring to our clients.

The ten years before you’re retired and the ten years after you retire are critical. If you sustain major losses in your portfolio during these periods it may have lasting effects. Having a plan in place that helps to  mitigate against major losses is key

If you’d like to create a more predicable financial future for yourself, I’d love to speak with you. You can reply to this email or call our office at 864.641.7955.

Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Clients Excel, LLC are not affiliated companies. Investing involves risk, including potential loss of principal. Any references to protection, safety, or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the insuring carrier. This podcast is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet particular needs of an individual’s situation. Clients Excel is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Clients Excel. The use of logos and/or trademarks of podcast hosting sites are the property of their respective owners and are not an endorsement by those owners of our firm or our program.

In financial services there’s confusion around what a “fiduciary” is. 

I’ll explain what a fiduciary is here without all the jargon. The definition was first placed into law a few years after the Great Depression. The government codified laws to guard against another financial crisis. 

The SEC highlights the duty of care and the duty of loyalty. The loyalty part means that the adviser should not put his interest ahead of yours, and to disclose any conflicts of interest.

The SEC doesn’t say that there cannot be conflicts of interest but that they should be disclosed so the consumer can make the decision of whether to follow the advice even though there may be a conflict of interest.

It sounds intimidating the way the government puts it, but here’s an example from another profession. If you had a wart growing on your foot, you may make an appointment with your primary care doctor. 

The doctor may be able to effectively treat the wart, but she may tell you to go see the foot doctor (podiatrist) who specializes in treating your issue. Similarly, there are things that I don’t do as advisor or things that you would benefit from having the help of another professional. When those things come up I’ll refer clients to other professionals. 

The duty of care part means you always serve the best interest of the client based on the client’s objectives. “The application of the duty of care, however, may vary based on the scope of the client relationship.” 

In all reality, the topic of what a fiduciary is hinges around how an advisor is paid. When you understand how an advisor is paid, it may aid you in understanding the type of investing philosophy, advice the advisor offers and what type of investors the advisor is accustomed to working with. This will vary from advisor to advisor. It’s important to be paired with an advisor that matches your investing and planning preferences.

To me it comes down to the Golden Rule, “Treat others how you would want to treated.” I believe everyone deserves to work with an advisor who looks out of their best interest. Our pledge to our clients: To always treat them as we would want to be treated.

If you’d like to speak about this topic or ask a question just reply to this email or call our office at 864.641.7955. I’d love speak with you!

Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Clients Excel, LLC are not affiliated companies. Investing involves risk, including potential loss of principal. Any references to protection, safety, or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the insuring carrier. This podcast is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet particular needs of an individual’s situation. Clients Excel is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Clients Excel. The use of logos and/or trademarks of podcast hosting sites are the property of their respective owners and are not an endorsement by those owners of our firm or our program.

David begins this show by sharing a story about a young lady who was involved in an auto accident. Fortunately, a good Samaritan came by and freed her from her car before it burst in to flames. The two are later connected. David shares the details of how it unfolded.

David then discuss an article CNBC published an article last year titled, The Fed is buying some of the biggest companies’ bonds, raising questions over why. The points the article covered are:

• The Federal Reserve is continuing to buy corporate bonds, following up on a pledge it made in March.
• Corporate America titans such as Microsoft, Apple, Visa, and Home Depot have been among the beneficiaries.
• Questions have been raised over “moral hazard” as the Fed buys debt from companies that don’t seem to need the central bank’s help.
• Indirectly through exchange trade funds the government holds investments in companies like Apple and Goldman Sachs also.
• The government has even purchased bonds of speculative-grade.

So, what’s the government doing? The Federal Reserve seeks to stabilizes financial markets during periods of major economic volatility. This is commonly referred to as quantitative easing (QE), which is the technical name. America is currently in itself fourth installment of quantitative easing.

The government bought trillions of dollars of bonds after the Great Recession began from 2008 to 2014. During that time the Fed accumulated $4.5 trillion in assets. In September 2019, the Federal Reserve began conducting quantitative easing. This was six months before Covid 19 came to the forefront of most of our minds. 

March 2020 the government announced it would begin purchasing $700 billion in assets. And quantitative easing continues today. Some commentators are saying it will be permanent. Nobody knows if QE is sustainable or how long it will last. No one is privy to knowing the future. But what I do know is that our philosophy in how we manage money is incredibly beneficial in times like these.

Active management of stock market investments combined with buckets of money that are safe from losses may be beneficial for a retiree.  If you’re interested in learning more about how we build financial plans, please Click Here to schedule a call with David or call  our office at 864.641.7955.

Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Clients Excel, LLC are not affiliated companies. Investing involves risk, including potential loss of principal. Any references to protection, safety, or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the insuring carrier. This podcast is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet particular needs of an individual’s situation. Clients Excel is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Clients Excel. The use of logos and/or trademarks of podcast hosting sites are the property of their respective owners and are not an endorsement by those owners of our firm or our program. 

The stock market was front and center in the news and on our social media feeds over the last week. Maybe you were confused by what was going on with GameStop, like some people who called me to ask for an explanation. I’ll break it down in simple terms. 

A hedge fund noticed that GameStop has been in decline for years and saw an opportunity to buy an option. The hedge fund was betting that GameStop would continue to struggle and they bought options accordingly.

Well, a website where people gather in an online community to discuss various topics has a forum where individuals share stock picking tips. They noticed what the hedge fund was doing and did not like it. 

The forum participants decided to buy GameStop stock. This was incredibly risky for these individual buyers. Buying individual stocks can be risky under normal circumstances, but what happened with GameStop came with even greater risk. The GameStop buyers wanted to drive the price up and cause the hedge fund to lose out. Somewhat miraculously these individual stock buyers were successful.

A hedge fund lost so much money they asked another hedge funding. Then many people were angered when several trading platforms began limiting trading of GameStop stock or not allowing it all. Congress began issuing statements on the issue. The political elite called for more regulations and even more taxes to remedy the situation.

Warren Buffett once said, “For investors as a whole, returns decrease as motion increases.” And that’s what we saw. The market experienced some minor gyrations that made some market participants nervous.

It may be appropriate for you to look for ways to lower your taxes in retirement. Many retirees have used tax-deferred accounts to save for retirement. There are strategies that you may be able to be implement to lessen the impact of taxation on your tax-deferred accounts.

If you have questions or would like to explore if tax reduction strategies are viable for your retirement accounts, please Click Here to schedule a quick call with me. Or if you have questions about anything I’ve covered here feel free to reach by calling 864.641.7955.
- David C. Treece

Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Clients Excel, LLC are not affiliated companies. Investing involves risk, including potential loss of principal. Any references to protection, safety, or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the insuring carrier. This podcast is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet particular needs of an individual’s situation. Clients Excel is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Clients Excel. The use of logos and/or trademarks of podcast hosting sites are the property of their respective owners and are not an endorsement by those owners of our firm or our program. Roth IRAs offer tax free income if distributions are taken after age 59-1/2 and the account has been open for at least 5 years. When converting funds to a Roth IRA, ordinary income taxes are due on the amount converted in the same year, and ideally should be paid with funds outside of the retirement plan.

What will happen with the economy? Will President Biden and Democrats raise taxes? How will this impact my retirement savings? These are questions I’m hearing when I’m talking with people about their life savings, and they’re all merited.

I think it’s fair to say that many of us have never experienced this much uncertainty. I’m as worried as the next person about what will ultimately happen to America, but when people ask me the questions above, I have good news for them.

Some of our long-term readers and clients will recall that I learned the retirement planning business from my dad. Dad taught me many lessons, but one was particularly valuable. He taught me that we either want our clients to love us or at least like us a lot! Ideally, we’ll do a tremendous job for you and you will love us. But at minimum, we want you to like us a lot.

The way that we get our clients to like us is we build financial plans that are weather proof.

We were building financial plans the way we are now when Obama was president, when Trump was president, and we’ll continue while Biden is president. And we’ll maintain our philosophy for one reason. We build each of our plans to flourish in any type of political environment. There are always things that are absolutely out of our control, but there are many things when it comes to our financial planning that we can control.

So, that’s the good news: Our clients are in a position to flourish. We’ve found this may allow our clients to have peace of mind and to eliminate a level of worry. By using our philosophy, many of our clients come to like us a lot.

On our podcast this week, I continue this thought process by sharing how our planning varies from client to client. Click here to listen.

Until next week, 

David C. Treece, 

Financial Advisor 

Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Clients Excel, LLC are not affiliated companies. Investing involves risk, including potential loss of principal. Any references to protection, safety, or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the insuring carrier. This podcast is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet particular needs of an individual’s situation. Clients Excel is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Clients Excel. The use of logos and/or trademarks of podcast hosting sites are the property of their respective owners and are not an endorsement by those owners of our firm or our program.

It’s no exaggeration that before we bought our house, we looked at least thirty houses. Yes, the housing market was competitive, but we looked at all kinds of houses  then we finally began narrowing our needs and desires down. Finally, after months of deliberation and prayer, we bought our house.

We spent copious amounts of time on our house buying decision and we should have. It’s one of the largest financial decisions most of us make.

But then many of us work 25 to 40 years saving  for retirement. We faithfully put away money. Often times we make sacrifices so that we can live more comfortably in retirement. Some of us accumulate $250,000, some of us $500,000, and some of us are fortunate enough to accumulate over a million dollars or more.

After working all those years for some of us our savings surpasses the value of our homes. Positioning our money properly and allowing a financial plan to dictate how our money is invested is as important of a decision as which house we are going to live in.

Whoever you decide to entrust to help you with your planning, we recommend you have a professional develop a financial roadmap that dictates which investments you use and how your money is allocated. This will help you avoid pitfalls and investing in things that don’t ultimately get you to your end goal.

Most people’s end goal is that they don’t want to run out of money, they want to grow their money, and maybe leave some to their kids if they have them. These things are all achievable with a well thought out financial plan that is customized to your specific needs.

When you’re ready to get started building your plan, schedule a 15-minute call with me by clicking here. On this call I’ll answer any questions you may have and discuss a starting game plan. 

David C. Treece, 
Financial Advisor 
864.641.7955

Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Clients Excel, LLC are not affiliated companies. Investing involves risk, including potential loss of principal. Any references to protection, safety, or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the insuring carrier. This podcast is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet particular needs of an individual’s situation. Clients Excel is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Clients Excel. The use of logos and/or trademarks of podcast hosting sites are the property of their respective owners and are not an endorsement by those owners of our firm or our program. 

Some of our long-time readers may recall that we frequently hosted in person seminars. We had an ambitious calendar of events planned for 2020, but that all came to a halt early last year.

One of the seminars I had hoped to conduct was one with an elder law attorney to go over the ins and outs of estate planning. Obviously, we couldn't do that, but I wanted to find a solution...

Instead of asking you to attend an in-person seminar or watch a webinar online, I interviewed attorney Robert Merting on our podcast. You can listen to this information from the comfort of your home or vehicle. 

It is no exaggeration that some attorneys charge a several hundred dollar fee to share the information Robert shares on our podcast.

This is applicable information that will be valuable to you no matter where you are in life, but it will be especially pertinent as you approach retirement.

I asked the attorney: 

How would you define estate planning?

Who is a candidate for estate planning?

Why should someone consider not writing their estate planning documents themself?

What are powers of attorney and why are they needed?

What is probate? 

What is a trust?

How is a will different from a trust?

What are a person’s action steps to get started on their estate plan? Click here to listen.

Planning how we want our assets to flow after we pass and getting power of attorney in place is extremely important!

Estate planning is so important that we include it on the retirement planning wheel. We attempt to address this concern with all of our clients.

Pre-planning may take the burden off of whoever is going to settle your estate. I also talk with Robert about how it can be a cost savings in the long run. Click here to listen now.

Until next week,

David C. Treece,

Financial Advisor

Click here to schedule a 15 minute call with David. 

Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Clients Excel, LLC are not affiliated companies. Investing involves risk, including potential loss of principal. Any references to protection, safety, or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the insuring carrier. This podcast is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet particular needs of an individual’s situation. Clients Excel is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Clients Excel. The use of logos and/or trademarks of podcast hosting sites are the property of their respective owners and are not an endorsement by those owners of our firm or our program. Roth IRAs offer tax free income if distributions are taken after age 59-1/2 and the account has been open for at least 5 years. When converting funds to a Roth IRA, ordinary income taxes are due on the amount converted in the same year, and ideally should be paid with funds outside of the retirement plan.

Over the weekend the Wall Street Journal ran article entitled, For New Year’s Resolutions, Never Think You’re Too Old to Become a Beginner. 

 New Year’s resolutions tend to get a bad reputation. I like to think of them as goals rather than resolutions. The word resolution carries more of a symbolic meaning, and the word goal carries more of striving context. Goals are more practical and applicable. 

 Sure, we can write 2020 off, but let’s face it: sometimes our goals don’t even come to fruition when everything goes perfectly in the world. Some of us get discouraged and avoid setting goals for the next year. That’s unfortunate, because we lose the fulfillment of being able to celebrate our successful goal completion. 

We were designed to strive. It’s important to obtain new goals throughout our lifetime. Necessity created striving in the hunter gather days because your survival depended on it. You might have to hunt, fish, grow food, or raise animals among other things. 
 
The idea is to always have the spirt of a beginner. The article explained the progression babies go through from crawling to walking. They spend a third of their day practicing and it still takes them months to master walking. But when they learn how to walk and not crawl it opens new opportunities for them. They no longer face down all the time and they can use their hands. In other words, learning new things opens new opportunity for us. 

Listen to the show to hear David Treece's list of 5 goals for retirees to have in 2021.

Is one of your goals for 2021 to be better prepared for retirement? As always, you can use the link to schedule a 15-minute call with David to discuss anything you have questions on. 

Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Clients Excel, LLC are not affiliated companies. Investing involves risk, including potential loss of principal. Any references to protection, safety, or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the insuring carrier. This podcast is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet particular needs of an individual’s situation. Clients Excel is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Clients Excel. The use of logos and/or trademarks of podcast hosting sites are the property of their respective owners and are not an endorsement by those owners of our firm or our program.

Bloomberg recently ran an article that read, Rich Americans Who Fear Higher Taxes Hurry to Move Money Now. 

From the Social Security Administration’s website, “Currently, the Social Security Board of Trustees projects program costs to rise by 2035 so that taxes will be enough to pay for only 75% of scheduled benefits. This increase in cost results from population aging, not because we are living longer, but because birth rates dropped from three to two children per woman.” 

From NPR article in July of this year, “Most of those who watch Medicare finances agree that the larger problem right now is how much money is being collected for the trust fund. That money largely comes from the 1.45% payroll tax paid by employees and employers. With so many people out of work because of pandemic-related shutdowns, cash flowing in has dropped dramatically.”

I could write a book on why taxes are going to go up, but I think you’re probably convinced if you’re still reading. I never like to share a problem with you without sharing a solution also. 

Staging a transition from tax-deferred savings vehicles like 401Ks and IRAs to tax-free savings vehicles like Roth IRAs and other strategies may be essential to you being able to maintain your quality of life in retirement.

 Who does this make sense for? Let’s find out. We have software that we can run an analysis on to see if it makes sense for you from a financial standpoint. You don’t have to depend on “hope so” or “maybe so.” Let’s control what we can control and take charge of our destiny. 

Click here to schedule a 15-minute call with me to get started on your complimentary tax analysis on your accounts.

 - David C. Treece, 
Financial Advisor

Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Clients Excel, LLC are not affiliated companies. Investing involves risk, including potential loss of principal. Any references to protection, safety, or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the insuring carrier. This podcast is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet particular needs of an individual’s situation. Clients Excel is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Clients Excel. The use of logos and/or trademarks of podcast hosting sites are the property of their respective owners and are not an endorsement by those owners of our firm or our program. Roth IRAs offer tax free income if distributions are taken after age 59-1/2 and the account has been open for at least 5 years. When converting funds to a Roth IRA, ordinary income taxes are due on the amount converted in the same year, and ideally should be paid with funds outside of the retirement plan.

What I’ve found is when most people come to me, they are looking for assurance that they’ll be okay. Most people don’t state it quite like that, but that’s the underlying concern that they have. It’s merited. We all want to know what to expect or how to prepare. And if we’re not asking these questions, we may have issues down the road of life.

The next question clients have for me is, “How can you help me have greater financial peace of mind?” Again, they don’t say it quite like that, but I’ve found that is what they are asking. I’ve found that putting together financial plans that are all weather proof generate the most peace of mind for my clients. 

The first thing we do is we use financial tools that do well in bull markets and they can still do well in recessions.

Second, we don’t want to depend on just one tool to build our financial plan. If you hired a contractor to a build a house and he showed up to the job site with only a hammer and he said, “I’m prepared to build your house” it may or may not work out. 

I can tell you though that my wife, being an interior designer, would not approve of the aesthetics of the house.

Third, we create plans that are nimble and capable of change. If one thing is certain, it’s that nothing stays the same. As we meet at least yearly we want to have a plan that we can make adjustments to and have room for change.

Research shows that most spend more early in retirement and their spending goes down as they age. Except for healthcare. Our spending on healthcare tends to increase with age.

It's great if you have money to self-insure and pay for your long-term care out of pocket. The problem becomes when your spouse doesn’t have any assets left to provide for their needs after your illness. I implore to you find what you can do to help yourself in this capacity. It's not possible for everybody to have long-term care due to various limitations, but it’s important to have a plan in place for your long-term care needs if possible.  This issue can be addressed in a number of different ways. I’d be happy to review those with you in a 15-minute call.  Click here to schedule a 15-minute call with me. 

If you're ready to get started building your all weather financial plan, use the link above to schedule a call. We’ll discuss what the first steps are and there won’t be any cost or obligation. 

- David C. Treece, Financial Advisor 

Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Clients Excel, LLC are not affiliated companies. Investing involves risk, including potential loss of principal. Any references to protection, safety, or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the insuring carrier. This podcast is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet particular needs of an individual’s situation. Clients Excel is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Clients Excel. The use of logos and/or trademarks of podcast hosting sites are the property of their respective owners and are not an endorsement by those owners of our firm or our program.