1% AUM fee = 25% of my annual paycheck to myself ... forget that ... do some research and quit giving away 1% of your money each year for 30 years (at least 30% total) because it ends up being hundreds of thousands of dollars ... you dont need to pay every single year to have a good estate plan ... and if you were gonna , why would someone pay 5 times as much as someone with 200K just because they have a million dollars... or even worse pay 10 times as much for the same thing because they saved 10 times as much for retirement ... it does not take twice as much work/time to manage 800K than 400K ... its the same job where you punish those that saved better and make them pay more ... paying a 3-5K one time fee , or even once year , is better than paying 10k per year (1%) if you have a million dollars ... just because you dont get a bill , and they take it out of your account quietly in the night , it doesnt mean you are not losing 10K ... for 10K ill do a BUNCH of research myself and hire a fee only pro as needed ... that letter to Clark was obviously written by an AUM advisor 😂
You answered a question about shopping for insurance. I shopped for car, homeowner and umbrella insurance when there was a large increase after more than 20 years with my current, well known, company. In the past, new companies were always able to offer lower cost car insurance, but the other policies cost enough more to make the total premium about the same or higher. Recently, I found a policy with a top-rated company that would save about $500 per year. But, I would have to give up the guaranteed insurability that is grandfathered into my old policy. This is a difficult decision to make.
I can attest the online passport service is fantastic. I got my passport in 6 DAYS, which includes 3 days mailing time. I'm sure it depends on the workload when you apply but it was so easy!
#Bonusterm - "placemats." All those election mailers you got well... Some of them make pretty darn good place mats. #Fridayfunnies . Lol. Team Clark rocks.
Go to university, major in a STEM program, preferably biochem, computer science or engineering and reap the rewards. At least go to a community college and get a DBA or networking or security certification or two. Start out with your A+ and Network + and then grab a couple CISCO certs.
@@chuckinhouston9952 - The trades (plumbing, electrician, welding, etc.) are also an excellent option if one is physically strong and good with one's hands.
This identity theft stuff is out of control! So we can’t answer the phone, click on anything! And AI can spoof stuff?! So how do we know who is who. Even if we call on our own, how do WE know the call is not being re-routed by thieves? This is draining. Life is just so draining. Hearing all this almost makes me ill! I just can’t. Thanks for alerting everyone. Guess I gotta stay stressed with all this.
Wish we still had copper landlines. They are only used for emergencies now. If you had an existing landline about 30 years ago you could have been grandfathered in. The last western country that stopped copper line usage was the UK.
I trust Consumer Reports about as much as I trust MSNBC…. Reliably as in you’re stuck on the side of the road isn’t the same as the trim on my fender isn’t staying on. I’d like to see the raw data that CR used to make their claims
I completely agree. The criteria CR often uses don’t align with my interests. CR rated a washing machine low because it “uses too much water.” WHOGAS? The earth isn’t running out of water. I just want my clothes clean. Your MSNBC comparison is spot on.
This year I got a text and phone call from a fake USAA representative. I deleted the text and phone call. Next I looked up my USAA account and this was bogus.
The uneducated Americans that Donald Trump says he likes. They fall for these scams, and some seniors like my own mother. So I set it up to monitor every single thing that went through her various bank account s.
There are other issues that are not scams that are just as bad. My mother changed her Medicare HMO, without me knowing. Discovered it with medicine I usually buy for her which normally cost $10, suddenly cost $110. I questioned her and she told me about this nice sweet man that came to the house and had a conversation with her and had her sign some Medicare renewal papers.
I tried the passport renewal system but it said I was still one month too early, based on the expiration of my passport expiring at the end of November 2023. I'll try the passport website again on December 1st.
1% AUM fee = 25% of my annual paycheck to myself ... forget that ... do some research and quit giving away 1% of your money each year for 30 years (at least 30% total) because it ends up being hundreds of thousands of dollars ... you dont need to pay every single year to have a good estate plan ... and if you were gonna , why would someone pay 5 times as much as someone with 200K just because they have a million dollars... or even worse pay 10 times as much for the same thing because they saved 10 times as much for retirement ... it does not take twice as much work/time to manage 800K than 400K ... its the same job where you punish those that saved better and make them pay more ... paying a 3-5K one time fee , or even once year , is better than paying 10k per year (1%) if you have a million dollars ... just because you dont get a bill , and they take it out of your account quietly in the night , it doesnt mean you are not losing 10K ... for 10K ill do a BUNCH of research myself and hire a fee only pro as needed ... that letter to Clark was obviously written by an AUM advisor 😂
Great explanation, Clarkie! 🙌 This is why we recommend fee-only fiduciary financial advisors. 💚
You answered a question about shopping for insurance. I shopped for car, homeowner and umbrella insurance when there was a large increase after more than 20 years with my current, well known, company. In the past, new companies were always able to offer lower cost car insurance, but the other policies cost enough more to make the total premium about the same or higher. Recently, I found a policy with a top-rated company that would save about $500 per year. But, I would have to give up the guaranteed insurability that is grandfathered into my old policy. This is a difficult decision to make.
where is the guaranteed insurability clause hiding out in policies? I am unaware of this hidden benefit of staying long term with an insurer.
@@BrenSchilling It no longer exists, as far as I know. My policy has been in effect for many years and this is no longer offered.
Colleges need to cut all the "garbage" degree tracts that have absolutely no value.
I can attest the online passport service is fantastic. I got my passport in 6 DAYS, which includes 3 days mailing time. I'm sure it depends on the workload when you apply but it was so easy!
Great info, as usual, but still really nice stack of info!
Would be helpful if Clark named the bank that isn't applying payments correctly.
If its a known problem, help your listeners avoid that trap
I agree. It may not be, but Wells Fargo has a history of doing stuff like this that doesn't make the news.
Re: down sizing : it's NOT about money. Most folks downsize when they can longer physically manage their yard or go up and down stairs. Etc.
#Bonusterm - "placemats." All those election mailers you got well... Some of them make pretty darn good place mats. #Fridayfunnies . Lol. Team Clark rocks.
💚 #bonusterm
No thanks! LOL !
32:54 "well-known to the regulators" I'm guessing Wells Fargo.
Go to university, major in a STEM program, preferably biochem, computer science or engineering and reap the rewards. At least go to a community college and get a DBA or networking or security certification or two. Start out with your A+ and Network + and then grab a couple CISCO certs.
Nice thought, but H1B visas are somehow "better qualified."
@buyerbware25 - You will still have more of a chance with the STEM degree or certification than without it
Better yet, become a plumber.
@@chuckinhouston9952 - The trades (plumbing, electrician, welding, etc.) are also an excellent option if one is physically strong and good with one's hands.
Great show. Have a good weekend 😊
This identity theft stuff is out of control! So we can’t answer the phone, click on anything! And AI can spoof stuff?! So how do we know who is who. Even if we call on our own, how do WE know the call is not being re-routed by thieves? This is draining. Life is just so draining. Hearing all this almost makes me ill! I just can’t. Thanks for alerting everyone. Guess I gotta stay stressed with all this.
Relax.
I have a land line with an answering machine. I do not have a smart phone. Very little stress here.
@@AcuraTLBuilder Guess I gotta. Thanx.
@@karinchristensen220 I think I’m getting one. Thanx.
Wish we still had copper landlines. They are only used for emergencies now. If you had an existing landline about 30 years ago you could have been grandfathered in. The last western country that stopped copper line usage was the UK.
Great information
Thanks Clark!
I trust Consumer Reports about as much as I trust MSNBC….
Reliably as in you’re stuck on the side of the road isn’t the same as the trim on my fender isn’t staying on. I’d like to see the raw data that CR used to make their claims
I completely agree. The criteria CR often uses don’t align with my interests. CR rated a washing machine low because it “uses too much water.” WHOGAS? The earth isn’t running out of water. I just want my clothes clean. Your MSNBC comparison is spot on.
Thank you Team Clark.
Scammers went after counselors with the court scam.
BEST INSURANCE Advice??? Here is ALL you need to know....BUY Amica........period end of story.
This year I got a text and phone call from a fake USAA representative. I deleted the text and phone call. Next I looked up my USAA account and this was bogus.
Good to know. Thanks.
New scams every day! It’s really sad!
Dont trust anyone.
God Bless Christa being in the sandwitch generation
Employee Retirement Income Security Act of 1974😊
Thanks for fact-checking! 💚
Seriously??? Who falls for any such scam? How is it even possible?
The uneducated Americans that Donald Trump says he likes. They fall for these scams, and some seniors like my own mother. So I set it up to monitor every single thing that went through her various bank account s.
There are other issues that are not scams that are just as bad. My mother changed her Medicare HMO, without me knowing. Discovered it with medicine I usually buy for her which normally cost $10, suddenly cost $110. I questioned her and she told me about this nice sweet man that came to the house and had a conversation with her and had her sign some Medicare renewal papers.
I tried the passport renewal system but it said I was still one month too early, based on the expiration of my passport expiring at the end of November 2023.
I'll try the passport website again on December 1st.
@@TheLifetraveler1 2023? Your passport is one year expired already and should be eligible for renewal.
ALWAYS max the IRA and 401k. The creditor protection argument is useless.
And HSA; to not have to dip into savings for medical costs at older age.
Always Roth
*Unless you're a high-income earner. 💚