Do You Need To Change Financial Advisors? Ep. 118 Artwork

Excel in Retirement

Where financial planning becomes understandable. David brings interesting stories each week to listeners of his Excel in Retirement show along with actionable ideas that may help listeners avoid pitfalls that many people face in their retirement. David C. Treece began his career in the financial services industry in 2011. He is an independent financial adviser. He has passed the Series 65 securities exam, and he is health and life insurance licensed in several states. David’s financial advisory firm focuses on retirement income planning.David worked for two other financial advisors before founding his firm in 2018. David launched Clients Excel because he has a desire for his clients to have a second to none experience when it comes to their financial planning for retirement. David relentlessly strives to be the best at helping people prepare for retirement.The bedrock of David’s ethos is treating others as he would want to be treated.David works tirelessly to continually bring pertinent content to our clients and friends through our weekly newsletter and podcast. Through these, David brings informative content that may aid you in preparing for retirement. Through his financial planning work, David’s hope is that his clients are empowered to have a confident financial future.David and his wife, Mallory, have a daughter named Amelia and rescue dog named Oscar. They also have a backyard flock of chickens that Amelia loves to tend. David and his family are active in their church in Spartanburg. He is also a volunteer mentor with JumpStart, which is a ministry for people who have been recently released from prison.

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Excel in Retirement

Do You Need To Change Financial Advisors? Ep. 118

June 12, 2024 • David C. Treece • Episode 118

David tells a funny story about having mice. Here is the link to the newsletter he mentioned.

Excerpt from the show: The hurdle that some people have is taking the next step. They reached out for help, issues have been identified, a plan of action to better the circumstances has been presented, but we sometimes worry about what comes next.

I’ll tell you, it took hours to get the garage in order and the better part of a day. But the results are worthwhile. Moving on from an old advisor who isn’t helping you get to the next stage of life is in my mind a lot easier than cleaning out a garage!

Here’s the other thing; just because someone helped you get to one spot, that doesn’t necessarily mean they’re the right person to get you to the next spot. Investing and financial planning when we’re within five years of retirement is a lot different than when we have ten or twenty years before we are going to retire.

Investment advisory services offered through CreativeOne Wealth, LLC. Clients Excel, LLC and CreativeOne Wealth are not affiliated companies. Licensed Insurance Professionals. Investing involves risk, including potential loss of principal. Any references to protection or lifetime income generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the insuring carrier. Annuity withdrawals are subject to ordinary income taxes and potentially a 10% IRS penalty before age 59-1/2. Roth distributions are tax free after age 59-1/2 and the account has been open for at least 5 years. This video is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet particular needs of an individual’s situation. Clients Excel is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Clients Excel. The use of logos and/or trademarks of hosting sites are the property of their respective owners and are not an endorsement by those owners of our firm or our program.

SPEAKER_00: 0:00

Welcome to the Excel in Retirement podcast, where we help good people make wise financial decisions so that they may excel in retirement with confidence. I'm David Treese of Clients Excel. Well, welcome back to episode 118 of the Excel in Retirement show. I appreciate you listening in. I've got a little bit of a funny story to tell you here today. We had chickens for about five and a half years at our house. And I grew up in the city for the most part. And when we lived out in the country and we moved out there, kind of wanted to have chickens. And so I had the misinformed understanding that it would be okay to store their chicken feed in our garage that is on our house. And we took a break from the chickens probably about 18 months ago or so. And a persistent problem has remained despite not having the chickens and I bet you could figure out what it is if you thought about it you'd probably figure out that we have mice and for some reason Mallory my wife she doesn't like mice too much and our garage looked like yours may have at one point or a lot of people's has looked it was filled to the brim you know you just put something out there and try to forget it for a minute and you'll get to it later and later never comes it was filled to the brim and from what I understand That's a wrap paradise. I told you about the trailer, or I told our newsletter subscribers, I should say, about our trailer that we bought a few weeks ago. Well, truth be told about that trailer, the reason we really got it was to make it easier to clean our garage out. And we wanted to be able to efficiently do that since we don't have a pickup truck. And a couple weekends ago, I had the trailer loaded up with stuff to haul off, and I was so proud of myself for effectively backing the trailer up when it was time to unload it. And as I was unloading it, I saw something darting out of the corner of my eye. Now mind you, I'd driven about 30, 35 minutes away from the house, and as I was taking things off the trailer, something was catching the corner of my eye. And I looked closer, and there was a mouse, and he was scurrying around the trailer trying to hide in whatever was left on there. And finally, when the trailer was unloaded, I thought he'd do the logical thing and jump off and head for safety. Do you think that happened? Not a chance. He backed his little self into the corner of the trailer between the wood planks and the metal frame of the trailer, and he just had his little head poking out. And that mouse would not get off the trailer to save my life. So I drove away. What was I supposed to do, right? But judge me if you will, I accelerated really fast to try to throw him off the trailer, and I got to a stop sign a few miles later, and I was hoping that I'd flung him off, but no luck. He was hanging on for dear life. And I decided there was no way in the world I was going to take this mouse back to my house and have to hear it from Mallory about why I brought that mouse back. And so I stopped in this big parking lot that was pretty much empty and I opened the back hatch of the car and we had a brush in there. And it's the kind of brush that you use to remove ice from your windshield. And the mouse was finally, or excuse me, the mouse had finally met his match when those bristles of that brush had come in contact with them. Boy, when that happened, he darted off that trailer and headed for some shrubs close by. And now every time we drive by that place I asked my wife. I wonder what he's doing. Hopefully he's found a new family to live with. And she seems to think he has anyway. And we'll let her believe that. I have to admit, though, we knew we had a mouse problem for a while in the garage. But really, we had planned and had chosen to punt on doing anything about it. And excuses are easy to come by. It's hard to get out there on a Saturday after you've had a long week and cleaned the garage out, especially this time of year as it's getting hotter. But we still had a problem whether we chose to acknowledge it or not, right? Sometimes when we meet with folks for our initial strategy session or to discovery session where we just try to learn about what they're trying to achieve and figure out if we have a basis to work together, we can identify areas of opportunity where by making a few changes, they may benefit. Subconsciously, we know if we're reaching out for help by attending a workshop or filling out a request online or going to a website looking for more help and researching, we're indicating that that we're not getting all the help that we need or desire. If we were, we would not be searching if we were being fully served, I don't think. Examples of this may be your advisor isn't helping you with social security planning, or maybe your advisor isn't looking for ways to lessen your lifetime tax burden in your tax-deferred accounts, or maybe we're concerned about how much we may lose if the market goes down, or maybe we're not earning enough interest and the market is up and we don't understand why we're not making more money. Whatever the case is, we're trending in the right direction by getting help, I believe. It's It's kind of like when we decided to first talk to the exterminator about our mouse problem, or when we bought traps. We were trending in the right direction, but ultimately we knew we had to get our doggone junk out of the garage or the mice problem would probably stick around. The hurdle that some people have in taking the next step is that they just don't know what's going to happen when they do that. There's a lot of unknowns there. But generally, in my experience, when we take the first step, we get more understanding of what comes next. And generally, it's the right move if we've been thinking and planning that and we're resonating with what's happening. A plan of action has been identified oftentimes, but sometimes we just don't know what to do or what comes next. I'll tell you though, it took hours to get the garage in order and it took the better part of a day. But the results are worthwhile. Just like when you do research and then you implement a plan, the research is worthwhile because you're getting the benefit of your hard work. When you have figured out that you have an issue, taking action is the natural next step. Moving on from an old advisor, if that's the case, maybe because he isn't helping you get to the next stage in life. It may be a lot harder. like trying to clean out our garage. It's not the most enjoyable thing, but you know it needs to happen. And it's not a personal thing. It's a business decision, right? Here's the other thing. Just because someone helps you get to one spot in your life, it doesn't necessarily mean they're the right person to get you to the next spot, right? Investing in financial planning when we're within five years of retirement is a lot different than when we have 10 or 20 years before we're going to retire. We don't have the benefit of time to deal with errors when they happen, or maybe not even errors, just like market downturns that naturally happen and occur from time to time. And so the game gets a lot more serious because we're closer to using those funds. I hope you've enjoyed this content today and this little silly story. If we can help you, please reach out. You can find more information at clientsexcel.com and there'll be a link in the show notes. Hope you have a great day. Investment advisory services offered through Creative One Wealth, LLC. Clients Excel, LLC and Creative One Wealth, LLC are not affiliated companies. Investing involves risk, including potential loss of principal. Licensed insurance professionals. Any reference to protection or lifetime income generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying ability of the insuring carrier. of an individual situation. Clients Excel is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not Thank you.