💡 Retirement Math Isn’t Hard—But Getting It Wrong Could Cost You Big
Dollars & Sense Podcast -Nelson Financial Planning
[{'start': '0.240', 'end': '8.800', 'text': 'this segment we wanted to talk a little bit\xa0\nabout how important math is to making a quality'}, {'start': '8.800', 'end': '16.080', 'text': "financial decision when it comes to your money\xa0\nso think back we're going to go not like high"}, {'start': '16.080', 'end': '21.280', 'text': "school math that geometry trigonometry stuff\xa0\nwhich I don't often use that in regular life"}, {'start': '21.280', 'end': '26.960', 'text': "right no we're going to go back to like probably\xa0\nelementary school and talk about that kind of math"}, {'start': '26.960', 'end': '31.360', 'text': "so don't let don't get too intimidated about what\xa0\nwe're going to talk about on this on this segment"}, {'start': '31.360', 'end': '36.640', 'text': "of the program because it is very simple math\xa0\nbut it's important to follow the steps right"}, {'start': '36.640', 'end': '41.760', 'text': "you got to follow the steps when you're trying\xa0\nto use math to calculate things because otherwise"}, {'start': '41.760', 'end': '48.320', 'text': 'you could very easily get hoodwinkedked on what\xa0\nyour return and we lose use that term loosely'}, {'start': '48.320', 'end': '55.360', 'text': 'because many in the industry unfortunately do\xa0\nwhat your return is on the investment choices'}, {'start': '55.360', 'end': '60.000', 'text': "that you make in this segment we're going to\xa0\ngo over a specific example that we saw just"}, {'start': '60.000', 'end': '65.200', 'text': "this past week and really use that to sort of\xa0\nunderscore why it's so important to kind of"}, {'start': '65.200', 'end': '72.720', 'text': 'understand how the math works so again math may\xa0\nnot be your strong suit perhaps it comes easier'}, {'start': '72.720', 'end': '76.960', 'text': "for me i guess that's a good thing because I'm\xa0\nkind of in this industry so kind of deal with"}, {'start': '76.960', 'end': '82.000', 'text': 'numbers and math so you know you would want it\xa0\nto come maybe a little bit easier for me but the'}, {'start': '82.000', 'end': '85.600', 'text': "reality is though that we're talking about\xa0\nsome basic understanding we're not talking"}, {'start': '85.600', 'end': '89.760', 'text': "about calculus we're not talking about trigger\xa0\nwe're not talking we're just division addition"}, {'start': '89.760', 'end': '93.520', 'text': "subtraction multiplication division that's all\xa0\nwe're going to be talking about in terms of"}, {'start': '93.520', 'end': '99.520', 'text': "how to best figure that out so here's the story\xa0\nsomeone came into the office for the very first"}, {'start': '99.520', 'end': '105.120', 'text': 'time this past week was explaining to us that\xa0\nthey had decided to take a quarter of a million'}, {'start': '105.120', 'end': '112.800', 'text': 'bucks so not an insignificant amount of money and\xa0\nat age 70 they had proceeded to put it into this'}, {'start': '112.800', 'end': '120.720', 'text': 'particular product that was going to guarantee\xa0\nthem a guaranteed monthly income for a 15 year'}, {'start': '120.720', 'end': '127.280', 'text': 'for at least a a 15ear certain period of time\xa0\ni mean obviously that might have some appeal'}, {'start': '127.280', 'end': '132.960', 'text': "I guess in today's world particularly if you're\xa0\nyou know spending way too much time on in media"}, {'start': '132.960', 'end': '138.080', 'text': 'or social media or television or whatever the\xa0\ncase may be and you know just just losing all'}, {'start': '138.080', 'end': '144.720', 'text': "perspective of kind of what's going on out there\xa0\nin the world at large but so it's easy to to look"}, {'start': '144.720', 'end': '149.120', 'text': 'at a product like that and say "Oh that\'s you know\xa0\nhey that\'s a guarantee i don\'t have to worry about'}]