The Paul Truesdell Podcast 

Principal Storyteller and Analyst:

Paul Grant Truesdell, J.D., AIF, CLU, ChFC, RFC
Founder & CEO of The Truesdell Companies
The Truesdell Professional Building
200 NW 52nd Avenue
Ocala, Florida 34482
352-612-1000 - Local
212-433-2525 - New York

Truesdell Wealth, Inc. 
https://truesdellwealth.com

The Truesdell Companies
https://truesdell.net

The Truesdell Companies was a proud sponsor of the Eirinn Abu benefit concert for Tunnel to Towers, on February 28th at the Circle Square arena in Ocala, Florida. For more information, visit: https://eirinnabu.com or https://eirinnabu.com/event/5760795/695871447/eirinn-abu-and-tunnel-to-towers-foundation-concert

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The Ultimate Christmas Gift
The Story Your Family Will Cherish Forever
Casual Conversations
Friday, June 13 – 6:30 pm
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Creative Estate Distribution
Beyond Essential Estate Planning Documents
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Friday, June 27 – 6:30 pm
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No Cost or Obligation – Reservations - Seating Limited - Desserts with Coffee, Tea, - Beer, Wine, - Soft Drinks, or Mocktails.

Disclaimer

You are listening to the Paul Truesdell Podcast, sponsored by Truesdell Wealth and the other Truesdell Companies. Note. Due to our extensive holdings and our clients, always assume that we have a position in all companies discussed and that a conflict of interest exists. The information presented is provided for entertainment and informational purposes only. Truesdell Wealth is a Registered Investment Advisor.

Rough Outline

The Retirement Planning Wake-Up Call That Should Have Happened Decades Ago
I spend considerable time reading, reviewing, researching, and analyzing business documents and forecasts. When I'm not immersed in financial analysis, I enjoy reading well-crafted legal thrillers and biographies. I also consume a substantial amount of content from financial services professionals, and frankly, about 50% of the time I finish shaking my head, rolling my eyes, and muttering "really?" or "dumbbell."
Recently, I encountered an article that perfectly exemplifies this frustration. The author presents what they consider groundbreaking insight: that one-size-fits-all retirement planning approaches don't work for today's new retirees or soon-to-be retirees, unlike what sufficed for the World War II and senior boomer generations. Their revolutionary discovery? People differ in longevity.
Well, no kidding, Gomer. Wow, what insight. I can't help but think of Gomer Pyle saying "Shazam!" to Sergeant Carter.
This person has the brilliant realization that people with higher income and greater net worth—erroneously equating these two as identical, which they're not—live longer, and therefore require different planning approaches than those with lower income and net worth. Here's my question: if you're legitimately performing your job as a holistic advisor, planner, and manager, shouldn't this have been fundamental to your practice from day one? To have this insight decades into your career is ludicrous.
The Questions That Should Always Be Asked
I've spoken with numerous people who recently became clients of our firm. They consistently tell me that no previous advisor ever inquired about their health, mortality, or morbidity factors like we do. They don't find our approach invasive because we understand how to ask and engage without being intrusive. We state upfront that we have no crystal ball regarding longevity. Historical mortality within families, combined with morbidity factors and life experiences—injuries, physical fitness, diet—all contribute to the core fundamental issue of wealth management.
I discuss this frequently, and sometimes I feel like I'm repeating myself. But I realize that while this is my daily reality, others aren't consuming everything I say constantly. Interest levels fluctuate as people check out and return periodically.
The Seven Components That Never Change
The seven components of wealth and status that I developed in the 1980s continue to hold true today and will remain relevant forever. These include both internal and external components that require awareness and attention. The Seven COWS, in order of importance are: mindset, physical, emotional, intellectual, relationships, income, and risk management.
Recently, I met several people in their mid-80s whose primary focus was estate planning documents. In one case, an 80-something individual was creating estate documents for the very first time, literally saying, "I guess it's about time." Another wanted major revisions because people named in their documents had become disabled or died. A third case involved someone whose designated representatives had shown their true colors—something had happened during the previous holiday season, and they were done with those relationships.
Each person held different views about mortality. One expected to die at 90, another declared they were "going as long as I can" while enthusiastically discussing their robust physical activity and social involvement. The third didn't know how long they'd live, hoping for longevity but not if cognitively challenged. This person had a profound realization during our conversations: they lacked genuine friends, recognizing this as what was missing in their life.
I define friendship completely differently from the traditional approach. Unlike the typical valley girl who overuses words like "friend" and "love"—"I love everything, I love this, you're my friend, she's my friend, the dog's my friend, I talk to my plant so the plant's my friend"—words should carry specific meaning. When you misuse language and remain lackadaisical about true emotions, they become meaningless. This resonated deeply with my 80-something client, creating one of those profound "aha" moments and prompting fundamental change.
The Real Problem with Financial Planning
Here's the key issue: I read these articles without discounting authors because they're younger—sometimes fresh eyes provide insights we might otherwise miss. However, having sudden realizations that wealthy people live longer, that people who care for themselves live longer, and that one-size-fits-all approaches don't work is precisely why I dislike the overwhelming majority of people calling themselves financial planners who rely on idiotic financial planning software programs. These tools are childish and ineffective.
This isn't rocket science. Everyone is unique and individual. The goal of a real professional is to discover facts, take appropriate action, and encourage behavioral continuations or changes to achieve two fundamental life objectives.
The Ultimate Goal
These objectives bring me to something that's both clever and profound. When we strip away all the complexity, all the sophisticated analysis, all the detailed planning, it really comes down to helping people achieve what a certain pointy-eared character from science fiction used to say while raising his hand in that distinctive split-finger salute.
Think about it: when he made that Vulcan hand gesture—fingers split while essentially giving a victory sign—he was communicating victory itself. Victory in life. It's reminiscent of Winston Churchill's iconic pose during World War II: that bulldog face, cigar in mouth, fingers raised in the V for victory. These become memes, visual representations that are never forgotten.
That's what real wealth management accomplishes when done correctly. It's not about complex software or sudden insights that should have been obvious decades ago. It's about understanding that each person's journey is unique, that health and relationships matter as much as money, and that the ultimate goal is eleg...