Marcia Mantell: What’s the Deal with Retirement Planning?

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[Music]

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welcome to fun with annuities where

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every single week I welcome a celebrity

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let's get to it

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[Music]

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welcome to fun with annuities I'm your

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host Stan the annuity man America's

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annuity agent licensed in all 50 states

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I'm so glad that my guest is here with

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me once again second appearance on fun

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with annuities Marsha Marsha Marsha

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Marsha mantel how are you hey Stan

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thanks so much for having me back and

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I'm doing very well thank you you know

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it's almost a pavlovian thing at this

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point people who don't know Pavlov

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please google it I don't have time for

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that but is pavlovian when you're on

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because I'm thinking lasagna lasagna

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lasagna because our last talk was about

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how retirement planning is like making

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lasagna and I'm still haven't made it to

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the uh to beloved Massachusetts to get

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my lasagna from Marsha Marsha Marsha but

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I'm going to eventually

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so and I welcome you with open doors

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here to my home and I will be happy to

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make any flavor of lasagna you like wow

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yeah is there their flavors well you

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know like because we talked last time

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some people are vegetarians some people

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are gluten free

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you know and so if you're lucky with

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lasagna you need to check yourself okay

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that's ridiculous so I you know as you

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know Marsha have my pulse on the

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industry all the time I'm checking in

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I've got the red phone the grand poo by

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phone but I'm seeing you popping up

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everywhere Marcia

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tell us what you're doing

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thank you I am extremely grateful for

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the support and the network I have in

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the industry including you my friend

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Stan the annuity man

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um but I have had some new opportunities

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to do some webinar panels recently with

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think advisor yeah you know the big shop

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think advisor I write articles every

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other month for think advisor about

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social security and connecting the dots

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really trying to help advisors sure

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think a little more strategically about

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social security it's not easy and

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then I got a call a couple of weeks ago

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it's like hey Marsh can you be on a

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panel with some of the industry Elite

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Stan I don't know why they called me but

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yeah I got to be on with uh David

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Blanchette and Christine Benz and you

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know just name drop name drop all of

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those people have been on the program of

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course of course and you know they're so

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very smart and they're much more

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investment some of them much more into

2:57
Investments than I am that's what they

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do really well but you know I had a

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piece to say as well and really try to

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help keep things in perspective is my

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big word during this sure well the the

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theme of the the webcasts were around

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these panels or around the recession and

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we all agreed we're not really sure what

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this is but David Blanchette came up

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with the he goes we don't know if it's

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quite a recession yet or what is out

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there but he's calling it a hot mess and

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I think that's exactly the technical

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term we all need to embrace cases it's

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just a freaking hot mess up there in the

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market and the economy so

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yeah so I did that and I'm doing some

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more writing and then uh I'm just very

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very fortunate to have invitations

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people want to hear what I have to say

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about podcasts about

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um Social Security and Medicare and

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podcasts well let's talk about social

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security tell me about what's going on

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anything new that might you remember

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this isn't an industry

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thing this is consumer these are

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consumers all 50 states listening to

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right and they're leaning in because I

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just said Social Security so is there

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anything new they need to know about

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well the very exciting thing I'm sure

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they do know at this point is social

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security did get a very large boost you

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know on one hand we're all lamenting

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inflation is on the rise in a pretty

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significant way on the other hand those

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who are getting Social Security or are

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waiting to claim will still get the

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benefit of this big 8.7

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increase so it's a big deal they'll see

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it in their first checks in January

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and um on average you know average

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around 140 per month I mean like you're

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gonna see this is real money and it's

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not five or six bucks and those at the

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high end getting Social Security more in

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that three thousand dollar a month range

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it's 300 bucks you know it's getting

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very close to that Mark so people are

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going to have some some real money in

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their pockets to then offset the grocery

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bills so it is really good news with

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Social Security especially you know I

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think about the older Americans you know

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moms and dads and grandparents in their

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late 80s and their 90s you know you

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can't go to work when you're 85 by and

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large people don't the employers are not

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clamoring for you it's a tough hire it

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really is so there's you know the

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occasional few but mostly not so they're

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really depending on Social Security to

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offset maybe their portfolios that have

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gone down more than they're happy with

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so anyway it's mostly good news with

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Social Security and I'm just really

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happy that

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everything is out it's out timely and

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people can plan accordingly or know that

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it's coming

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yeah and Social Security was never

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intended to be the the source for most

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people's income in retirement but as we

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both know in the studies show I think

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it's like 60 of the people adults have

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like four hundred dollars in their

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checking account

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um we live in bubbles me and you and the

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and the people listening that you know

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we really do it really affects people on

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the low end but the the increase and

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this is the best inflation annuity on

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the planet is going to help people at

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the low end because

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you know I know you go to the store and

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you buy ingredients for lasagna it's a

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little bit more expensive Marsha

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it is and you know inflation is one of

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my other favorite topics and I do track

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a lot about inflation and a year ago

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wait a minute you had some you had some

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unique thing that you tracked you were

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telling me like there was like a end was

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it it wasn't like ice cream but it was

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something weird it was ice cream it's

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ice cream you you totally remember ice

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cream yeah I have this very small basket

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of of what I think are the most

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important foods besides lasagna so it's

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The Mantel in that is this The Mantel

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index yeah I've read about that I've

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read about that yes yeah and it is it's

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ice cream coffee peanut butter and

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chocolate

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I have a few I like sugar and some fruit

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and whatnot but so so consumer price and

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price index because CPI has been

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replaced by The Mantel index is what I'm

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hearing

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um well you know when life gets tough

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Stan you're not just eating cereal and

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bananas right like you go right for the

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ice cream you go right for the chocolate

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and really you put the two together so I

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like to know what's going on with those

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important food groups what's the mental

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index telling us at this point Marsha

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Marsha Marsha ice cream was a year ago

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ice cream was not moving too much it had

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held pretty steady even though overall

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food was up but it's up a lot 13.6 Euro

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ice cream's up 13.6 yes all right so you

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know it it's a dilemma so inflation

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again has some good news with Social

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Security let's go down through how about

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peanut butter peanut butter is up 11.2

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is that creamy or is that crunchy well

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it's both and my husband is a big creamy

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guy so we always have to have Jif creamy

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at home but I love chunky peanut butter

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and then and then what's the next one

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coffee coffee yeah that's important no

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but but that could be broken down into

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cheap gas station coffee no offensive

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gas stations no or premium coffee so

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what what's the mental index sale now

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yeah the coffee which is just

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these are the averages across all kinds

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of coffee grounds you know so we haven't

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made the Frappuccino yet or whatever

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it's called Uh coffee's up a ton 15.7

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and this is kind of a non-negotiable

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like I could do ice cream every third

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day

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yeah yeah

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and and chalk a lot same thing you can

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go low in and high-end yep and again

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it's this is the manufacturing part of

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chocolate so I look at that it's

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chocolate and confectionary so even if

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you don't like chocolate for some

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unknown reason other confectionary

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manufacturing that's based on an index

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what the index is 100 you want to be at

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100. we're at 122. and it's like this

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little mountain going up in the last

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year

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122 instead of 100 so it's a really big

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increase in all the costs that go into

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manufacturing chocolate

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so I'm thinking you know holidays are

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right around the corner right I get

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those little I don't know do you get the

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little turkey mold candy little

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chocolate turkeys wrapped in that

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beautiful foil my wife never they never

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get to me she intercepts everything

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well I love those little gold foiled

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turkey so I start with well forgot

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Halloween I mean I had we had so much

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extra candy this year to keep it away

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um so we have the turkeys and then we

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have Hanukkah gelt we have Christmas we

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have other holidays that all have

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chocolate with them so I think I'm gonna

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have to you know budget sort of be

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thoughtful this year not just

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willy-nilly buy whatever I want it what

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inflation makes us do is rethink

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priorities on what we're buying and

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reset our budgets we we have to go back

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to some Basics here and you know people

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don't like to have to do that I know I

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don't I don't like to have to tell my

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husband no that he can't go and just buy

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whatever he wants we really want to be a

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little more Mindful and true you know it

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sort of stinks but I had a really bad

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um Halloween joke come to mind I of

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course I have to tell it because that's

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who I am is you know you know we're in a

10:36
recession of really bad times when the

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criminals have to use generic razors in

10:39
the apples

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I mean that's that's a really bad joke

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I digress I'm sorry but I'm thinking

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myself

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you know you kind of have to giggle a

10:52
little bit but inflation to you means

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you know inflation to me means it's

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customizable to people's situation

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um inflation to you means what Miss men

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tell it means it's time to reset and I

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literally mean you're going to take a

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weekend you're going to sit down and

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look at your numbers as you're eating

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ice cream

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yeah because you know the grocery bill

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can't keep going up and thank goodness

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you know my kids like yours they're

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grown and gone so I don't have to feed

11:21
an army anymore it's just Dan and me and

11:25
not the entire neighborhood uh but the

11:27
families you know who have young kids

11:29
home heaven forbid you have boys I mean

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I remember you know my brother eating

11:34
four boxes of cereal for a snack how

11:36
much does milk cost like a gallon of

11:38
milk I don't even know I'm like George

11:39
Bush walking through a a a a grocery

11:42
store is that a scanner what's a scanner

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scanner

11:50
two hours ago and I bought a half a

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gallon of milk

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skim milk three 369 359.

11:58
times two yeah so you know good it's a

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lot

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yeah

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um so when you're feeding a family you

12:06
have fewer choices was that a good

12:08
George Bush imitation I'm just I'm

12:10
asking

12:11
it was excellent where's it I'm scared

12:15
what's a scanner I don't know what

12:16
scares go ahead I'm sorry

12:19
no it's all good it's all good

12:23
so I I do use these I don't use that

12:27
darn scanner at the garage by the way no

12:29
I hate that by the way can we talk about

12:31
that for a second I want people to check

12:34
me out of the yes you know I like to be

12:37
waited on at a restaurant does that make

12:39
me as my daughter say bougie does that

12:42
make me bougie no it doesn't make me

12:44
bougie it makes no I want people to

12:46
check me out I don't know how to scan

12:48
things I don't even know how to put in a

12:50
light bulb you're asking me to scan my

12:52
my and the other thing that drives me

12:55
crazy like nine bags worth of groceries

12:58
right and Stan there's never the code I

13:01
need for the kind of apples I bought and

13:03
I'm always you know something's dinging

13:05
and it won't go through and I'm not even

13:07
buying you know cigarette and liquor

13:09
it's just the basics it's a grocery

13:11
criminal magnet in my opinion you could

13:14
be here's another one that I understand

13:15
and I know we're kind of digressing but

13:18
that's what we do Marcia okay okay I'm

13:20
walking through the Houston Airport and

13:21
they've got the you know the way you can

13:23
buy the the overpriced Cheez-Its which

13:25
you know Eight dollar bag cheese and

13:26
things like that but it's an honor

13:28
System

13:29
and I'm thinking to myself

13:31
I don't think we live in a country do we

13:33
or or do or do they have they run

13:35
studies where people that fly are

13:38
honorable people I'm telling you they're

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not because I step aside a guy that

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drank eight uh Bloody Mary's on a

13:46
two-hour fly

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that's not honorable that you know what

13:49
that is that's a goal Setter is what

13:51
that is yeah wow eight what uh you know

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I'm back traveling also and it's in fact

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I'm going to Miami next week for the FPA

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of Miami event they've invited me to

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talk about social security my buddy Bob

14:06
Powell and tell him I said hey I know

14:09
Bob he's a great guy I thought you might

14:11
yep he's awesome

14:12
so yeah we're going to chat about all

14:14
things Social Security

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and so I'm I'm back in the airports I've

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been back and forth to Minneapolis and

14:20
Denver and whatnot and yeah the behavior

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is not

14:25
Stellar let alone honorable so I haven't

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seen the total honor System I've seen

14:31
the scanners are in a lot of those um

14:34
it's interesting it's interesting yeah

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no I don't I don't want the scanner

14:39
thank you anyway

14:40
um plus it takes three times longer

14:43
because a they never work or you've

14:47
scanned something and it's like binging

14:49
and making noise and you've done

14:51
something wrong with it but that that

14:52
ties back into inflation recession

14:54
notice I'm gonna I'm gonna I'm gonna

14:56
close that Loop

14:57
you know people say well people need to

14:59
get paid more and and you know minimum

15:01
wage needs to go higher I'm no problem

15:03
with that but what happens with

15:04
businesses because they're in it for a

15:06
profit I know that's scary to some

15:07
people is they're just going to start

15:09
eliminating people you know McDonald's

15:12
is flipping burgers no they're doing

15:14
fries with robots now

15:16
in some places job Stan I know they just

15:19
eliminated the very first deal paying

15:21
job was making fries at McDonald's in

15:24
Corning New York

15:26
listen now that you did that I I have a

15:29
theory that McDonald's fries which are

15:31
great there's like some type of drug

15:33
illegal drug inside of them

15:35
is it true

15:37
not back in 1979 there wasn't because

15:40
you can't stop eating them that's my

15:42
whole point like that it's like a crap

15:44
thing in there yeah it's totally true

15:46
but recession and inflation is is about

15:50
you know companies still have to make a

15:52
profit I know that just scares a lot of

15:54
people that word profit but um they're

15:57
just going to adjust I always tell

15:58
people you know be careful when you text

16:00
corporations because they'll just raise

16:01
prices they're going to pass it on okay

16:04
they they do pass it on you know one

16:06
interesting thing inflation related

16:08
where food overall food at home has gone

16:12
up what was the overall number 11.2

16:14
percent food in the restaurant did not

16:18
go up that high I want to say it went up

16:20
eight point seven eight point five

16:21
percent maybe why is that range why is

16:24
that yeah eating at a restaurant I know

16:26
it's so long ago but where some

16:29
corporations do quickly pass on

16:32
increased cost to the consumer the

16:35
restaurants and particularly the smaller

16:37
the small business restaurants mom and

16:39
pop on your street they are really

16:41
working hard to not pass on all the

16:43
costs to the consumer yeah so we find

16:46
that really fascinating like they're

16:48
part of when you're part of a community

16:49
when you know everybody and when you're

16:52
part of the fabric of your Main Street

16:54
sure you're less likely to I mean you

16:57
still you need to stay in business so

16:59
you do need to be profitable but you

17:01
don't need to be as profitable as some

17:04
others who aren't part of that fabric of

17:06
your downtown it's a yeah it is a um

17:09
it's a balancing act for a lot of these

17:11
comp these these companies and

17:12
restaurants and especially

17:14
people that are interacting with

17:16
consumers you know walk-in type

17:18
businesses like that it's hard I mean it

17:21
really is Medicare how about that pivot

17:23
Medicare

17:25
gentle one that's a hard pivot you know

17:28
I just ran up to the to the stop sign

17:30
and stopped

17:31
Medicare what's new what am I what am I

17:34
missing with that I know that you're

17:35
saying to yourself Stan you shouldn't

17:37
even be talking about Medicare because

17:38
you're so so vibrant and young and and

17:41
you're you act like a 35 year old

17:44
because it's unbelievable what kind of

17:46
vitamins are you taking but with that

17:47
being said

17:49
it's not true none of that but Medicare

17:51
talk to me yeah Medicare I love this

17:54
topic of Medicare so one bit of good

17:57
news

17:58
off of a bit of bad news so last year we

18:02
had a very large increase in Medicare

18:04
Part B premium so this is the part where

18:06
you your doctors you get help paying

18:09
your doctors and outpatient services and

18:10
so forth

18:11
and Medicare went up I forget the exact

18:14
numbers 28 bucks a month a huge increase

18:17
because it was a particular Alzheimer's

18:19
drug they thought was going to move for

18:21
further along got a plan for it blah

18:23
blah blah it went up a lot

18:25
but this year because it's sort of a

18:27
built-in increase we didn't actually

18:30
need it to be quite that hot so this

18:32
year anyone on Medicare got a 5.20

18:35
reduction in their part B so Social

18:38
Security went up Medicare went down a

18:39
bit so net net you know you're you're

18:42
coming up ahead even a little better so

18:45
I'm very happy about that for those who

18:47
pay the standard premium

18:50
um Medicare though overall I'll tell you

18:52
Stan

18:54
it is so complicated you know when I

18:58
hear um people who haven't dived into

19:01
dove into Medicare I think it's the

19:04
world okay so if you haven't dove into

19:07
the deep end of the pool

19:09
d-o-v-e-s Southern d-o-v-e-n Doven Doven

19:13
Doven into Medicare yes you you think it

19:17
sounds good when you hear things um

19:20
Medicare for all and single-payer

19:23
and when I hear those words my hair is

19:27
on fire because it's like only people

19:30
who don't know how Medicare is

19:32
structured would want that for everyone

19:35
now I I get the sentiment everything is

19:38
incredibly complex in our current state

19:41
of sure non-affordable Health Care sure

19:44
but Medicare starts with four pieces we

19:48
can't even call them Parts because part

19:50
is a technical term in Medicare part A

19:53
is hospital so we call them pieces

19:55
pieces okay so what are the four pieces

19:58
I don't even know what the four pieces

19:59
are you are in such fine company no

20:02
thank you everyone thinks they just join

20:04
Medicare that it's this one thing

20:05
correct I'm going into I'm going through

20:07
the Medicare door son I'm gonna walk

20:09
right through it I'm gonna get my darn

20:10
Medicare

20:11
what do you talk about pieces well not

20:15
at all if you only get Medicare we're

20:18
talking about part A hospitalization

20:20
Part B pay your doctors

20:22
but you would owe a ton of money out of

20:26
your own pocket if you stop there so the

20:29
other two pieces are Part D for your

20:30
prescription drugs and then some type of

20:33
supplemental insurance we're going to

20:34
just call it Medigap for right now and

20:37
that met a gap pays for your

20:41
out-of-pocket expenses you would

20:42
otherwise pay for a and b so I look I

20:46
draw a little chart so two boxes on top

20:48
with a rectangle underneath so Medigap

20:50
sits underneath A and B and then have

20:52
your part D plan now you can also get a

20:55
Medicare Advantage plan which is

20:57
essentially the same thing except it's

20:59
structured behind the scenes differently

21:01
of how the money moves all right stop

21:03
stop I've got a vent right here if I see

21:07
these ads like I'm gonna check my ZIP

21:10
code and if my ZIP code has it then I'm

21:12
gonna get guess what spoiler alert every

21:15
zip code has it I'm gonna check my ZIP

21:17
code these are the dumbest apps

21:21
they are so bad actually I started

21:24
tweeting out last week so I saw one I

21:26
was in Denver and I thought it was just

21:28
in Denver until I got home it turns out

21:31
I was watching The Hallmark Channel if

21:33
truth be told of course you were of

21:35
course the ad comes on and it's Martha

21:39
oh with the big glasses yes what is I

21:42
listen first of all they stole that from

21:45
me because I have the fictitious

21:47
um Chester and Martha as my client

21:49
Chester talks like this and Martha's his

21:51
wife I don't need an annuity that that's

21:54
that's who I use as my the Martha with

21:57
these big huge glasses and yelling at

22:00
the screen and I'm telling you Marcia

22:03
Marsha Marsha

22:04
that that commercial is at a second

22:08
grade level

22:10
and

22:12
only that

22:15
it is

22:16
disparaging and so

22:19
um I don't have other than curse words

22:22
which I have in my Arsenal all of them

22:24
it is so horrible how they are

22:27
portraying our older Americans would

22:30
that be classism

22:35
it's beyond ageism right it's so

22:39
horrible and it's so unacceptable so

22:42
anyway I started I tweeted Hallmark I

22:44
haven't heard back from them and you

22:46
know knock it off take this off of your

22:50
rotation this is

22:51
this is beyond and I'm mad at Joe Namath

22:54
and I'm mad at JJ Walker a good I love

22:57
good times but if I hear those two guys

22:59
again

23:01
it is it is Despicable what is going on

23:06
with these ads and yet I will tell you

23:09
that every single ad gets approved by

23:14
the insurance commissioners of every

23:16
state and so if it's a so you're telling

23:18
me an insurance commissioner approved

23:20
the Martha ad with the big glasses yeah

23:22
that person needs to be punched in the

23:24
face well there are 50 of them but yeah

23:27
can I play I mean seriously I really

23:29
don't understand I'm not I'm not I'm not

23:31
pushing violence I'm saying that as a

23:34
just an example yeah we don't want to

23:37
punch them okay but uh yeah so I called

23:42
the number Stan

23:44
I recorded it on my cell phone because I

23:47
didn't think I was going to see that ad

23:48
here in Massachusetts oh boy was I wrong

23:51
you know grab some screenshots even put

23:54
the screenshots in my tweet to Hallmark

23:56
I called the number and boy did I get a

23:59
run around oh yeah it was what's your

24:02
zip code what's your zip code Miss

24:04
mantel let me check your ZIP code so I I

24:08
did I played along right I gave them the

24:10
information they sent me over to an

24:13
agent here in Massachusetts oh sure so

24:15
they at least I guess got the ZIP code

24:17
right yeah and and he claimed to be a

24:20
licensed agent in Massachusetts I don't

24:22
know and I said you know I

24:25
called this number from this hideous ad

24:28
who are you like it's not like it was

24:31
Blue Cross or Humana or you know no

24:34
one's claiming this

24:36
I I have no idea and of course my

24:38
favorite part of all these ads including

24:41
the drug ads the typeface is 0.2 yeah on

24:46
the font so there is no human who could

24:49
read the disclaimers and certainly not

24:51
us older people who have nine pairs of

24:53
glasses to figure out the distance so I

24:57
yeah I am I am on a mission now I will

25:02
never stop that but if I can at least

25:05
help some people whoever find me and I

25:08
can help them

25:10
to understand what really goes on and

25:12
how to make decisions between Medicare

25:14
Advantage plans which are not bad and

25:17
Medigap plans

25:19
you get to decide each individual and

25:22
you need to understand that you're not

25:25
going to be if you're not going to pay

25:26
less with Medicare Advantage plans over

25:28
a 30-year retirement a lot of times you

25:30
actually pay more

25:32
so

25:34
which gets us back to the Medicare for

25:36
all that drives you crazy because it's a

25:38
customized plan and it's not a Medicare

25:40
for all where we're all getting the same

25:41
thing that's right

25:43
that is exactly right and and even I

25:46
mean it's atrocious because you have

25:48
depending depending on your ZIP code

25:50
known your ZIP code Marshall do you know

25:54
it and then your county I called to

25:56
check on my ZIP code I love this film

25:59
like oh my gosh I hope that's an actor

26:02
oh yeah oh you know I don't know I don't

26:05
know I'm just hoping because no one

26:07
could be that dumb that's horrible yeah

26:10
yeah but maybe not on TV you know maybe

26:13
somewhere but yeah that's it cold yeah

26:17
come on exactly so you know you you do

26:20
have to spend some time on this I tell

26:22
people this do not try to figure out

26:23
Medicare on a weekend right this is not

26:25
going to do here's the other one I

26:27
called to check to see if I get what I

26:29
deserve what

26:31
I mean that's one of the lines too it is

26:34
and Martha complies why don't why don't

26:36
I get off I don't know I I really could

26:40
I could not believe how low someone

26:43
would go to put that kind of ad on

26:46
American television the only competing

26:49
industry on that level of nauseousness

26:52
would be the annuity industry but they

26:55
have outdone the annuity industry oh

26:57
they've outdone the annuity industry all

26:59
the nonsense annuity stuff at least with

27:01
annuities you get to go you get to go

27:03
eat a good steak or chicken dinner I

27:05
mean this stuff is nonsense this is

27:08
crazy beyond crazy and in many states

27:11
and zip codes you can have I I can't

27:14
remember offhand but Pennsylvania has

27:15
tons in a lot of the zip codes Michigan

27:18
Ohio oh Ohio Ohio has something in one

27:22
of the zip codes I did an analysis for a

27:24
lovely woman

27:26
86 Medicare Advantage plans it huh

27:31
86. like what

27:34
who thinks that's a good idea like

27:37
that's just nuts

27:39
so so the person out there that's the

27:42
loyal listener and follower of stand the

27:44
annuity man's fun with annuities podcast

27:46
growing by Leaps and Bounds you're

27:48
telling them what on Medicare how to

27:50
decipher and go about this what would

27:52
you say

27:53
it's a very thoughtful process know

27:56
what's most important to you so is the

27:58
most important thing to you

28:00
flexibility where you can go anywhere

28:03
any doctor that accepts Medicare maybe

28:06
you know your grandkids are in

28:07
California and you want to but you live

28:09
in Arizona so you want to go back and

28:11
forth that's Medigap that's maximum

28:14
flexibility and steady steady steady

28:16
budget throughout your retirement years

28:18
you know how much you pay every month

28:19
times 12 that's your payment got it

28:23
however if you are in an area and there

28:27
are lots of areas that are a little more

28:28
Rural and they don't have tons of choice

28:30
there's one Hospital System One Clinic

28:33
one whatever

28:34
maybe Medicare Advantage is better for

28:36
you and you're fine being in a network

28:38
you're fine doing co-pays because some

28:41
years you're going to be healthy and

28:43
you're going to pay less than you would

28:45
with a comparable coverage Medigap plan

28:48
but other times you're going to be sick

28:50
and you're going to pay a lot more

28:52
so it's what's more important to you the

28:54
flexibility or

28:57
where do you get stage advice on this

29:00
because it ain't JJ Walker and Joe

29:02
Namath who where do you go to have that

29:05
type of level of honesty

29:10
uh it's pretty tough you've got a shot

29:14
with your ship Representatives the state

29:18
health insurance assistance program

29:19
every state that's what the key you said

29:21
that with the p with a p yes

29:25
I was I didn't know if there was another

29:27
acronym I needed to be aware of

29:29
no not with that word but okay got you

29:32
okay

29:33
ship program

29:36
and they are it's a free resource you

29:39
don't pay anymore it's part of the

29:40
Medicare okay full assemblage of support

29:43
and you can talk to your local ship

29:47
Representatives how did they get there

29:49
is that like ship.com

29:52
um exit what you think so you can the

29:55
easiest way is actually Google Google

29:57
your state so where you Las Vegas Nevada

29:59
Nevada ship but the actual

30:02
yeah you might not want to do that in

30:05
Las Vegas because something else might

30:07
come up but let's just say you're in

30:08
Kansas Kansas

30:12
ship.com Kansas ship Medicare Google it

30:15
it'll pop Google it and it's also ship

30:18
ta Center ship s-h-i-p as in Paul t as

30:22
in Tom a is an apple

30:24
t-a-center.org and you then click on

30:27
your screen and you find your people so

30:30
that's one option another option is to

30:33
go to

30:34
an independent

30:36
health insurance broker you just jumped

30:40
off you just jumped off the cliff and

30:42
looking for a parachute

30:43
yeah a little bit but the independent

30:46
guys I think are way better than just

30:49
calling uh an insurance company research

30:52
and they're just gonna sell you into a

30:54
Medicare Advantage plan yep yeah I agree

30:56
gosh what a message

30:59
messy messy same thing with Social

31:01
Security I mean people make these

31:03
decisions do you recommend them going

31:05
into a social security office and trying

31:07
to get real

31:09
you just you're you're shaking your head

31:11
to the point your neck's gonna hurt what

31:13
I know yeah um that's what people would

31:16
like that is not the role of Social

31:18
Security's agents the agents are very

31:21
good at

31:22
In This Moment

31:25
helping you know okay not decide helping

31:28
you know do you get more money if you

31:31
claim on yourself or more money if you

31:33
claim as a widow or widower that's

31:35
actually that's actually what that we

31:37
need them for

31:38
right they are I mean and I don't mean

31:41
this disparaging at all they truly are

31:42
order takers they need you to come in

31:44
and say I'm ready to claim my Social

31:47
Security and this is the lane I want to

31:49
go down and then because the process is

31:52
hectic and includgy so we need them to

31:55
be really good at the process

31:59
yeah spell that please I don't have any

32:02
idea how to spell it

32:05
c-l-u-e-g-y clue G

32:07
well look we'll Google it I like that

32:10
but kluji meaning have a clue

32:13
no meaning it's

32:16
um gnarly it's it's complex there are a

32:18
lot of steps to get the process right

32:20
you know

32:21
Marsha I just I hang out with you and

32:24
just information just it flows off of me

32:27
like a shower a shower of information

32:30
I'm gonna walk around and just use the

32:32
word clergy randomly today yeah it's

32:35
like bougie but it's not it's collusion

32:37
see now you can go to your girls and

32:39
tell them dad learned a new word yeah

32:41
I'm not only bougie I'm cluji exactly

32:45
So Okay so we've talked about that you

32:49
do need a financial advisor in many

32:51
cases or yeah or do a lot of reading I

32:55
mean the good news is there is tons of

32:59
information out there the bad news is

33:02
there's tons of information out there so

33:04
how do you sort through it how do you

33:05
how do you navigate this and and under

33:09
the words are so Persnickety you know

33:12
things that you think you know

33:15
you don't you don't know the application

33:17
of them in that what did I get caught up

33:19
oh income

33:21
so we have this big Bill here in

33:23
Massachusetts called the fair fair share

33:26
Bill we have a flat tax in Massachusetts

33:28
and some people want higher income

33:32
people to pay more sure so when you hear

33:34
income what do you think what do we mean

33:37
by income well W-2 wages right or

33:40
self-employment right

33:42
that's not income when we're in the tax

33:45
environment income is everything on the

33:48
front of the 1040. so income is W-2

33:52
wages and its distributions from your

33:54
IRAs and its annuity income and its

33:57
pension income and its interest income

33:59
oh and capital gains and if you sell

34:01
your house and you have a big balloon

34:03
payment

34:04
that year that's correct capital gains

34:07
so

34:08
um income is much more complex right

34:11
clergy than we think so we we have to

34:15
get underneath this stuff it's the same

34:17
with Social Security and Medicare you

34:19
know admitted patient

34:21
well if you're in the emergency room

34:23
aren't you an admitted patient you're in

34:24
the hospital oh no you would be wrong

34:27
you are not admitted see I just saw

34:30
something this morning Marcia that

34:32
correlates into this very very

34:34
seamlessly Ford is coming up with a van

34:38
that you can live in the van down by the

34:40
river as Chris Farley would say and they

34:43
think that it's really going to catch on

34:45
and at some point in time as we go into

34:49
you know our chapter two of Our Lives

34:51
you want Simplicity that van look I mean

34:54
I was I was sitting in my apartment in

34:57
Las Vegas Nevada which I'm here a couple

34:59
you know people know we have office in

35:00
Florida and we have one in Nevada and

35:03
I'm thinking you know there are times

35:04
that that sounds pretty good you know

35:06
because it's complex let's go live down

35:08
in the van about down by the river now I

35:10
understand for people that are very that

35:12
really like showers and bathrooms that's

35:14
a little bit of a push but

35:17
yeah this stuff is complex I always tell

35:20
people when you retire

35:22
you do have a part-time job and it's

35:23
called your retirement

35:26
and it's not TurnKey unfortunately

35:28
unless you don't care and you're going

35:30
to live in the van down by the river uh

35:33
but even then you're going to have a

35:34
couple things that you need to do but I

35:36
think it's interesting that

35:38
you know I watch these Trends uh pop

35:40
culture to me that's a pop culture trend

35:42
of people tapping out and saying I'm

35:45
tired of all of it

35:46
I just want to go live in a van

35:50
um and if it's an all-electric van I

35:53
don't know how to use most of it so

35:55
that's going to be a problem for me

35:58
I've gotten the hang of the push button

36:00
I do miss my key but I've gotten the

36:02
hang of the push button I know uh but I

36:04
don't trust it I don't trust it no and

36:07
one day I couldn't get my car I don't

36:09
know what I did but it wouldn't unlock

36:11
nothing worked so but that's simplicity

36:14
so it's funny you mentioned this because

36:16
I have as part of the recession

36:17
conversation I had the other day

36:20
what I share with people is what we're

36:23
asking our retirees to do

36:25
the the people who've already you know

36:29
put up with this for 40 some odd years

36:31
yeah right paid their dues they've paid

36:32
their dues man they're there they're

36:34
easier years and so we asked them to do

36:37
the near impossible we want them to be

36:39
cool common collected for the next 30

36:42
Years yeah when the Market's going up

36:44
and down the economic Cycles are going

36:46
crazy like what we're living through now

36:47
we want you to pay all your bills on

36:49
time yeah you want to get all the tax

36:51
rules right of things you've never had

36:54
to deal with and don't run out of money

36:56
because you don't get a paycheck

36:58
like

37:00
who thinks this is a good idea Stan

37:03
like oh my God that's the reason I

37:06
always tell people on my clients there's

37:07
no U-Hauls behind hearses if you see one

37:10
take a picture and send it to me live

37:12
for the day I always tell my girls the

37:14
my grown girls that are out of the house

37:17
um

37:18
my last check's gonna bounce so you know

37:21
I do have life insurance but I'm gonna

37:23
burn the candle at both ends and boy

37:24
what a flame that'll be

37:26
um but I I do think it does say maximize

37:29
the day and I know that sounds cheap and

37:31
cliche

37:32
but because of chaos and and there's

37:36
always chaos in the world but it just

37:37
seems to me right now it's a lot

37:41
it just seems a lot and I I hear from my

37:43
clients all the time that they just want

37:45
a simplistic route it I mean that's what

37:47
we do here is simple simple stuff

37:49
contractual guarantees and we're getting

37:52
inundated because I think people are

37:54
done with it all they just they just

37:55
want to go do their thing

37:57
it really is so oh it's so challenging

38:02
let me finish that thought and I'll

38:03
share with you something that I you know

38:06
every day in our walks of life stand we

38:10
learn new things you learned clue G

38:12
today and you learned bougie and I

38:14
learned bougie yeah and the other day I

38:16
got a call from from a person who said

38:20
um um my mother's having a problem

38:22
getting my father's social security

38:24
check

38:26
okay I'll bite that sounds intriguing

38:28
well it turns out the father had just

38:30
passed away

38:32
and the last check was had come in that

38:37
they had been deposited it's like well

38:39
why is this a problem

38:40
well because they have separate accounts

38:43
so dad's check was deposited into dad's

38:45
account and Mom's check was deposited

38:48
into Mom's account I'm still going

38:50
okay

38:52
um weren't they signers on each other's

38:55
checking accounts no

38:58
okay did they have a payable on death

39:01
designation no no

39:04
did they have an Executor uh no no

39:11
uh no I don't know the banking rules um

39:14
for for this particular situation I'm

39:16
gonna do some digging and I'll you know

39:18
they were going to talk to the funeral

39:19
director to see if he's run into this

39:21
before but it is that kind of complexity

39:25
stand that if you don't know

39:28
the entire freaking banking system in

39:31
America works you can end up where your

39:35
wife doesn't in that case his was twice

39:38
as big as hers that were traditional

39:39
married he was I don't know in his 90s

39:41
and so he was getting I know let's say

39:43
two thousand dollars a month she was

39:45
getting 1 000 a month so together they

39:48
had three thousand dollars to pay their

39:49
bills and now Mom doesn't have any money

39:52
this month and see here's the thing this

39:54
is what I think we should be teaching in

39:55
school because I have a theory on all of

39:57
this see I came from rural America poor

39:59
America

40:00
and the reason I'm sitting here in the

40:03
financial business is I was always

40:04
intrigued why other people had money and

40:05
we did not nothing against my parents I

40:07
love them they did the best they could

40:09
and but for people that don't have that

40:12
drive to figure out Financial stuff

40:14
which is the majority of the country boy

40:17
we need to be teaching the basics of

40:19
this in every level of school every

40:22
single year so people have a foundation

40:23
because I don't know if people know this

40:25
and this will blow you up blow your mind

40:27
right here over 50 percent I read the

40:30
story over 50 percent of the country use

40:32
gas stations as their Bank

40:36
yes like they don't have banking

40:38
accounts so they go to the local Big Gas

40:41
Station to get money orders and things

40:43
like that they use the the gas stations

40:46
as Banks and the reason that the gas

40:48
stations are getting bigger and bigger

40:50
and super gas stations is because most

40:52
people just transact there

40:54
they feel comfortable with that 50 of

40:58
the country Marcia so is astounding and

41:03
that's that's where we're at because we

41:06
haven't

41:07
are we getting political here we might

41:09
be we haven't educated everybody if

41:12
everybody was you know knew what a check

41:14
was and knew how a bank worked and knew

41:16
just basic stuff yeah you know because

41:19
if I would have gone in the financial

41:20
business I would I wouldn't have known

41:22
that

41:23
well I I put akin to a car right the

41:27
engine of a car apparently is very

41:28
sophisticated that's what they said no

41:31
how to open the hood Stan so

41:35
I don't know how to open the gas thing

41:37
anymore that I know how to do well

41:39
that's good that's a survival thing so

41:42
not everywhere around here pumps gas for

41:44
me but I go out of my way to go to the

41:46
one gas station where the nice man does

41:48
pump the gas so I love those guys

41:51
um it's different in New Jersey they all

41:53
pump the gas for you they'll love to go

41:54
to New Jersey but it's so complicated so

41:58
even I mean what are we going to teach

42:00
our kids because I'm totally on the

42:02
bandwagon with you like we need to teach

42:04
our kids this stuff

42:06
banking College yes Civic spanking

42:09
government how it all works and not just

42:12
how to write a check it really is about

42:15
money movement correct and it's about

42:17
credit scores you know

42:19
um I think last year you had kind of

42:23
forgotten about we've bought maybe not

42:25
our last house but close to it you know

42:27
we're old we've got 50 years of credit

42:30
history almost at this point Point Masha

42:32
you're 36 years old last time I checked

42:34
oh if only

42:35
nope 61. so it's really only about 40

42:38
Years of credit history but I'm feeling

42:39
older today I guess and and so you think

42:43
like I've made it you know I don't need

42:45
to worry about these Shenanigans anymore

42:47
wrong if you are buying into a 55 plus

42:51
community

42:53
they ask for your credit score of course

42:55
they do if if you need a new credit card

42:57
because there's some uh something you

42:59
don't have you need a good credit score

43:01
of course when you're going into

43:02
assisted living

43:04
didn't even freaking credit score

43:06
and you know and I I knew that but I

43:09
didn't know that you know it's like one

43:10
of those things that hadn't quite risen

43:13
to the top of my oh dear God how are our

43:17
retirees supposed to they're not and a

43:19
lot of them are just falling off the

43:20
cliff I we got to talk about your books

43:22
books books books martial martial Marcia

43:24
let's talk about your books finally when

43:26
you know when I was on last time I was

43:28
threatening to have you were my first

43:32
book second edition come out I finally

43:34
got it over the finish line so it just

43:36
went up on Amazon it's this this book is

43:38
the what's the deal with retirement

43:40
planning for women I will send you a

43:42
copy stand as soon as I'm just waiting

43:44
for my author's copies to arrive I would

43:46
be happy to send you one it's got a new

43:48
groovy green button on it that says

43:50
second edition nice and I put updates in

43:54
there and actually I added a lot about

43:56
this credit score as it turns out and

43:58
added three new chapters so I added can

44:00
men read this book

44:02
yes and they should that's why I'm

44:05
saying the difference really is that

44:08
women have our role has been different

44:11
so it explains the role of women in

44:14
their households and with finances and

44:16
so it'd be very helpful for men to

44:18
understand how we look at the world and

44:21
it's not the same so yes it would be

44:23
very helpful I just came out with your

44:25
tagline it's a book for women and a must

44:27
read for men

44:28
I love that that is so beautiful I'm a

44:31
marketer Marcia you know that I mean my

44:33
underwear has Stan the annuity man logo

44:36
on it so that but but I digress

44:39
um I'm just saying yes it is a I asked

44:42
that for a reason

44:44
um because

44:46
I think if you're writing it to and you

44:49
did to the to the female woman that is

44:52
not up to speed on unless they need to

44:54
get up to speed most men aren't up to

44:56
speed

44:57
that is so true

45:00
they act like they are and they put

45:02
their chest and go oh God let me tell

45:04
you something about money son yeah I

45:06
know it I am money no you're not

45:11
I want to say it's the American College

45:13
had a survey they ran for a long time a

45:16
retirement income survey and it was and

45:18
the relatively hard questions I think

45:20
there were 20 25 questions whatever

45:22
something like 17 or 20 of women scored

45:26
even in the acceptable range

45:29
no one knows anything about retirement

45:31
income sure

45:33
and for Boomers 92 percent of women have

45:36
been married or are still married so we

45:39
our base our institutional base is

45:42
marriage sure so we have these husbands

45:45
and so I showed the women I was doing

45:48
this presentation for all women

45:50
and I showed them I said ladies look

45:52
like 17 of us know what we're talking

45:55
about it's like oh that's awful but I

45:57
know they're thinking thank God I have

45:59
my husband because he knows everything

46:01
and then I shot up the other side of the

46:03
slide right and it shows the men are

46:05
only at 28

46:08
yeah but they yeah but they think they

46:10
know which is more dangerous do not rely

46:13
on your husbands they don't really know

46:15
that much more than we know and so it's

46:17
you know really the blind leading the

46:19
blind and we can't have that the world

46:22
is too complicated now well and I always

46:25
say Marsha and you can skip steal this

46:27
one from me or they say in the music

46:28
business lift

46:30
um net worth does not equate into IQ

46:34
oh some of the dumbest people I've

46:38
spoken to are multi-multi multi multi

46:41
because a lot of them are in the genetic

46:43
Lottery business where they've inherited

46:46
their choice fund babies and they're

46:47
walking around going I'm a

46:49
multi-millionaire son yeah that's the

46:51
reason because your dad worked his rear

46:53
end off and you got it he didn't spend

46:54
it but the point is I I don't think

46:58
um just because you have money means you

47:00
know it

47:04
I learned something

47:07
that I didn't know uh before and then my

47:10
job from there is like yours is to

47:12
simplified and put it in English yeah

47:14
you know exactly because it is

47:18
stoppingly complicated and and it's that

47:21
is a great phrase

47:23
complicated

47:26
I love that

47:28
and it really is wobbly a word well it

47:32
is today whoppingly complicated

47:38
you know I don't have a sophisticated

47:41
vocabulary as I mentioned I got a lot of

47:44
four words in my vocabulary

47:48
but I know aren't they so much better

47:51
how did you weave That Into You wove

47:52
that into a podcast that's incredible

47:55
it was not interested I didn't know I

47:57
was going to say it it is in Persnickety

48:00
is one of my favorites yeah but

48:02
whoppingly is good whoppingly not

48:04
whoppingly I love that it is it is

48:07
complicated because how do we get the

48:10
right magnitude on the problems people

48:12
are facing when a woman cannot get her

48:15
you know I don't say measly two thousand

48:18
dollars but you know what I mean she

48:20
can't get a one month check because

48:22
their accounts weren't set up correctly

48:24
and well boy we can't change the rules

48:26
for gosh sakes we can't you know that's

48:29
that's the problem Marcia we're up

48:31
against the clock I know you're saying

48:32
you're saying Stan can we keep going

48:33
longer can we please do another hour of

48:36
this I know what you're saying and

48:37
that's what that's what the listeners

48:39
are saying I understand that

48:41
yeah I got to get on my Lear Jet and fly

48:43
back to Florida you know and um yeah but

48:46
I don't be in Miami next week we don't

48:48
have a leadership no I will not be in

48:50
Miami

48:51
in next week

48:53
um I would I would like to do but you

48:55
know when I speak at those events about

48:57
annuities it it becomes somewhat of a

48:59
fist fight that I always win but it's a

49:01
fist fight nonetheless

49:04
um no it's all good but listen I'm so

49:06
glad that you came back on and don't be

49:08
a stranger you've got more books and

49:10
stuff on the on the horizon

49:12
um we'll have a pet we'll have

49:13
everything on my site so people can link

49:15
to Etc what thank you what's 2023 look

49:19
like for Marsha mantel before we close

49:21
this out

49:22
yeah I am hoping to get two books I'm

49:25
almost finished with a guidebook to help

49:27
people walk through this retirement

49:29
income stuff

49:30
um I hope to get that launched early in

49:32
the year and then I've been dragging my

49:34
heels because fortunately I've been busy

49:36
but the third book in my what's the deal

49:39
with retirement plan and what's the deal

49:40
series there's retirement planning for

49:42
women social security for women Medicare

49:45
for women that's the one that needs to

49:46
get written and get off my outline and

49:50
out to the public it's just so important

49:52
for for everyone and thank you so much

49:55
for this tagline the books for women but

49:58
a must read for men I thank you very

50:00
much

50:01
tip your waitresses

50:03
um the other thing I was I was gonna beg

50:06
you is if you win excuse me when you

50:08
decide to run for political office I'm

50:11
there

50:12
uh I will be the campaign manager

50:14
because we need people like you in

50:16
charge but um so let me let me uh let me

50:19
thank you once again I want to thank

50:20
everyone else on all the major podcast

50:22
platforms and all of you Maniacs

50:24
watching us on the fun with annuities

50:26
YouTube channel I will see you next time

50:33
[Music]