Bob Payne has spent nearly a half-century in finance and that’s more than enough time to form his own philosophy on investing. On this episode, we share some of our favorite ‘Bob-isms’ that get said around the office before we discuss some of the common financial concerns we see from clients.
Our fearless co-host, Bob Payne, is celebrating 45 years in the financial industry, and that’s given him plenty of time to accumulate wisdom. He’s shared that knowledge with clients and co-workers through the years in what we like to call ‘Bob-isms.’
We wanted to share some of our favorite sayings because they also provided great financial guidance as well. So we’ll do that on this episode of No Payne, No Gain and Bob will talk about each of them as we go along.
This show will also discuss some common financial concerns that we see and hear from clients. Your retirement plan is a long process and there are changes that happen through the years that give us some anxiety. Let’s face our fears and figure out what we can do to ease those worries.
We’ll close things out with two questions from listeners about leaving a high-paying job and how to tell if your brother-in-law is legitimately a financial advisor.
We’ve laid out the show in the rundown below to make it easier for you to skip to the topics you care about most or to go back and listen to something again.
[0:32] – Previewing today’s episode
[1:15] – Celebrating 45 years in the retirement business for Bob with some of his best sayings.
[1:46] – ‘Invest in the market you have, not the market you want.
[2:49] – ‘You don’t get good prices with good news.’
[3:44] – ‘The world doesn’t end very often.’
[4:02] – ‘Portfolios should be managed in concert with every dollar that you have.’
[8:58] – Common financial concerns. The first is we’re living longer so we have to make our money last longer.
[10:32] – Another concern: healthcare costs continue to rise.
[12:34] – What are some of the common things we see that need to be changed in portfolios?
[14:33] – What can you do if your estimations for retirement are coming up short?
[19:08] – Mailbag time
[19:34] – Mailbag question: I’m 62 and making more money than I ever have but I hate all the red tape and politics of a Fortune 500 company. Do you think I’d regret walking away from this income?
[21:51] – Mailbag question: How can I tell if a financial advisor is qualified or not? My brother-in-law just informed us he’s a financial advisor after last month being a life coach. It makes me skeptical of the profession.
“For the average investor, risks are something that are only recognized in hindsight and that means you’ve already lost your money.”
– Bob Payne
IMPORTANT DISCLOSURE INFORMATION
Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Payne Capital Management, LLC), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from Payne Capital Management, LLC. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Payne Capital Management, LLC is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of the Payne Capital Management, LLC’s current written disclosure statement discussing our advisory services and fees is available for review upon request.