← Ready For Retirement
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- [00:00]
A
All right, Ari, you and I talk a lot about ways that we could imagine a better future for a lot of clients, ways that we can impact more people, ways that we can go beyond what you might consider traditional financial advice of working with people one on one. And we talked about that before and yeah, that's part of our vision to say how can we expand access to high quality financial advice, maybe even non traditional ways. And we've got an exciting announcement today to talk about one way in which we're going to begin doing that and some of the benefits that we hope to extend to a lot of people. This is another episode of Ready for Retirement. I'm your host, James Canole, and I'm here to teach you how to get the most out of life with your money. And now onto the episode. So what do we have going on that people can be excited about?
- [00:47]
B
We have roots new retirement community. And the reason we're launching this is because it's more if you have a portfolio with plenty of money and you feel you can retire confidently for some reason because you're a human, not a robot, that doesn't give you total peace of mind. And it's one thing to hear from James or I in a video that you might be on track for retirement if your circumstances look similar, but it's a different feeling when there's someone else in that community that you can communicate with who says, hey, James, I was in a similar spot and I had anxiety and here's what I did to combat that. And here's the trip I really took that changed my life. And you might end up meeting your best friend in this community. So this is a new root retirement community where if you want to have an awesome retirement, it goes beyond the finances. So we're really excited to launch this.
- [01:36]
A
Yeah. I think we talk about what would we. What would the perfect company look like? If you could imagine the financial industry never existed, what would you design? If you said, we want to actually help people get the most out of life with their money, what things would you be doing? And I think, well, of course, like there's the traditional how do you invest your money to retire? How do you withdraw your money, how do you save on taxes, how do you set up the right estate plan, get right insurance, all that stuff. Sure. But that tends to be where the focus starts and ends. For, for most companies, there's not enough talk about, well, how do you create community? How do you understand or get this sense of what purpose looks like for you? How do you have this Ability to talk to people who can talk about the importance of health and what steps you can take to improve your lifespan and health span. What about people who can talk about fun travel tips and strategies? What about just talking like you said about to people? Hey, I'm terrified to do this retirement thing. Are there more of you out there? And the answer is, yes, there's a whole lot of you out there. And so you and I talk about retirement a lot. Some of the funniest comments we get on YouTube is, hey, this advice is so great, but are you like, how old are you? Like, how do you even know this stuff? Which is, yeah, we're nowhere near retirement. I can't speak from personal experience about retirement and the strategies we talk about other than the hundreds of people we've helped to do this with. So this community is a chance to say, yes, there's going to be some financial education is a component of it, but there's also going to be things that go beyond that. Part of it is truly community. You get to talk to people about things that you're working through, organize things. I was talking to a client one time who did he just taken this awesome mission trip to help build schools or hospitals or something in Africa. It's like, this is so cool. I just want to tell the world about this by, like, I have no idea who to talk to. And the funny thing is, like, two weeks previously, I was talking to another client on the other side of the country who had just done a mission strip. Is like, this is the coolest thing in the world. I just wish I could tell more people about it so they could join. And I was like, okay, there's a lot of people that want to do the same thing, but if you don't have someone in your immediate circle to talk to about that or do, it's just not going to happen. So we started thinking, how could we leverage the platform that we have, the client base that we have, the listeners that we have to say, all of you are doing really awesome things. Is there a way to bring that together, to either share experiences, to create initiatives of things to do together, to almost become something that we're going to. Yeah, we're going to put a lot of structure into this to say, here's some things that we think could be done to enhance people's retirement. But also a lot of it's going to be driven by what do people want, what forums do people begin working on, what relationships do people begin building here? And we have no idea what that might look like, I think it's going to be really cool, but I think a big part of it is going to be how can we support others in their pursuit of building community, Better health, better travel, better financial strategies as they approach their retirement.
- [04:35]
B
Beautifully said. We might have travel experts. Come on. We might have health insurance experts. We're going to have people that we think are really going to help and make your life better. So when we thought about this community, it was less of like, oh my God, everyone needs to join this or they're not going to be okay. It's more of like, no, no. This is so that you have the best possible retirement ever. If you never joined it, you'd probably still be okay in the same way if you never ended up, you know, watching our YouTube channels, you might have figured retirement out. There's lots of people that are doing it, but we're hoping to do it differently. So it's really exciting because you're going to be able to ask James questions. You're going to ask me questions. We're going to be in there participating alongside you. And, and we want this to be a true open forum. I have hosted live shows in the past and you guys will try to communicate through this platform that's not perfect, where all of a sudden. And you can see it on the YouTube videos as well. I'll say, hey, drop a comment below of the favorite place you've traveled to. And they'll say, the Maldives. And then someone else will say, great, where'd you stay? And the conversation ended there because they didn't get a YouTube notification to go back and check the comments. So we want this to just be a one all inclusive place for you to have your dream retirement.
- [05:49]
A
Yeah. And so who is this for? So if, if someone's a client of Root, they get access to this completely free as part of the services that are already getting through Root. We'll talk about pricing for people who aren't current Root clients. But I wanted to make the point that this is available to everyone. Part of our mission is to say, how can we expand access to good quality financial advice? And by the way, good quality financial advice should go beyond just the financial. To connect the dots between what are you doing with finances and the ultimate end that you're trying to accomplish, which is better living, having a better retirement, all that stuff. And so this is something that we say, okay, not we, Root financial or financial advisory firm can't work with everyone one on one for just some obvious logistical constraints in terms of everything that's required there. This is something that we say, okay, we're trying to begin the beginning phases of what the future of financial advice could look like. Of if you want everything kind of a done for you, full partnership model, we have that and we think we do it really, really well. And that's what root financial is. This is something where we're not going to tell you what stocks to invest in or what tax strategies to do. We'll provide a lot of education on that. But it's more that community to say a lot of you are just asking questions, want to meet other people, want to have access to resources or experts or things of that nature at a pretty low cost to be able to get that. And this is kind of the beginning stages of what we hope to do in terms of saying, wherever you are, we want to be able to meet you where you are and provide services that are of value. So, Ari, if I want to enter that community and I'm listening and saying, okay, this is kind of cool, I haven't heard this idea, or maybe I have, but why should I join? I know you've talked about a little bit, but what can I expect? Are you in there every day and am I just texting you for questions or what does it look like if I join the community?
- [07:38]
B
Yeah, so there's the education aspect of it where you get to talk to other people about what's their experience, but really you should be expecting entertainment. And that to me is a big draw because you're going to be able to go, wait a second. So like beyond just having the technical education, I'm going to get to like hear from you and see like your advisors work. And also like we're going to be hosting different types of shows in there. And this is just the start. So I want you to have something to look forward to. My dream is every day of the week. Now, will we have that immediately? No, but my goal is for you to go, oh, yeah, I know Ari's going to interview an advisor on Wednesday and I want to get to meet him and maybe my wife will really like him and maybe James is going to be there on Sunday, so I'm going to be able to ask him questions. But then also one of your other advisors is going to be showing a real estate example another day. So we're just at the start. But it really is supposed to be your community where when I think of the dream of this community, it's benchmarked on your. Not benchmarked, bookmarked, should I say Right next to your email icon. So if you are pulling up Google Chrome, I want that to be right there where you're like, every time I click on it, I just can't wait to see what an exciting update. What new show. Every Monday night, I'm going to tune in for trivia night or I'm going to tune in to learn a new strategy that I didn't know it existed. And I want to be able to communicate with people in real time. So we're going to have all sorts of guests come in. It's going to be just a complete hub. We thought about for a while calling it like a retirement hub because that's really what it is. But hub doesn't really put the feel of you're gonna be able to speak to other people. So that's why that community aspect, which is what I think we all really want, like the last thing you want to do is retire and be bored or retire and be like, look, I, I think I know what I want to do. But like, what if I'm wrong? So ruling out now the just, hey, am I going to get one on one guidance? Am I going to text Ari? Am I going to text James? Like, no, that's not what you're going to get in here. But we want this one spot where no matter where you are in your journey, you can go. And I have clients just like you shared there, James, that go, look, to be honest, I was scared to work with Root. I never had an advisor before. Now here's how I feel. Let me go tell people, I would love to tell future or younger me what I wish I would have done. And then there's other people that are like, look, I just want to learn. Like, hey, your clients are traveling. How often is that really happening? And what if one spouse loves traveling, the other doesn't? Like, how do you guys actually navigate that? So that's what you can expect.
- [10:05]
A
Yeah. So lots of cool things, and I think lots of cool things to evolve from that. And it's going to be built not on, hey, we know exactly what everyone wants and we're going to give it as much as we got a pretty good idea. But we're also going to listen pretty intently to what we hear you say and what you're looking for in there and build it around your desires and guests. You want to see resources, you want to see topics you want to see discussed. And I think it's going to be a beautiful thing. Pricing, when we talk about pricing, this is something to expand access to financial advice. So the pricing is going to start at $50 per month to get access to the community. For people who are listening right now, been long time listeners. You've been with us from the beginning. We want you to have access at a much lower price to get started. It's going to be $20 per month for the first. We don't know exactly how long yet, but to get in lifetime access locked in there regardless of where the price goes in at the future. Another thing that's important to us, expanding access. If you're listening, you say, oh, that'd be so helpful. I'm really trying to aggressively pay down debt. I'm really trying to aggressively save for retirement. Send us a note. We want you to have access. Send us a note. We'll take care of you. You can send that to what's the best place, Ari? Hello, root financial.com.
- [11:18]
B
Yeah, let's do hello at Root Financial. And if you look in the frequently asked questions which we're going to link to this and you see a different email there, don't say, james, you're a liar. Ari, you're a liar. We just change the email because we don't. We want to make sure that we're able to get to people in a timely manner. We believe in something called the sundown rule, which really is you're getting a response by sundown, might be 24 hours, but we want to make sure that you don't feel like you just sent off an email to outer space. So on the logistics of that pricing as well, we're going to put those details in the frequently asked questions so that you can see, hey, what code do you use and can I really check out and all of that fun logistical stuff. We all love.
- [11:56]
A
Awesome. We're excited for this. We love getting to interact and you know, we, we do a lot on YouTube and like you said before, we see comments are fun comments, sure you can reply, but there's not a way to build that engagement like there would be in a community. So we're looking forward to having that. There's gonna be one community. So even though there's Ari's YouTube channel and James YouTube channel, it's gonna be one you one, one community for all of this where we're both going to be involved, both going to be interacting, resources, guests, things to make this an enriching experience as people are is looking to just enhance what their retirement can look like. So any final details, Ari, before we.
- [12:29]
B
Wrap this up, you covered most of it. I want you Guys excited because you'll send me notes saying, hey, Ari, really enjoy the academy. It's got me more confidence to retire, but it's still not quite there. And I will send you access and James does the same. If you've enrolled in my academy and you want James access, we'll give that for 80% off just because you already have the software and that's separate from the community. You'll see more details below. But I want this community to be your spot where you go. I think it just got me over the edge. I finally am feeling confident and I'll share this story often, but I've shadowed an advisor in the past who thought he did a really good job explaining to a couple why they were in a good spot to retire. And I could see no matter what the advisor said, they just weren't confident. There was just something. No matter what withdrawal rate it said or number of portfolio assets, at the end, it just didn't hit. And I asked them after I said, hey, how are you feeling about this conversation? And they basically said, it doesn't even matter what you say. I grew up without money. I will never have enough. And that's not something that we expect someone to come out of a meeting and go, yep, you fixed it. But this community and hearing from other people, I really hope some of you do find your best friends. Maybe you travel with people and you can see I'm wearing the root shirt right now. I hope some of you guys end up getting some root swag and we'll talk about that in the future. But you get some swag and you travel and you send us a photo going, look, I found you guys on YouTube and now I'm traveling the world with my best friend and I used to have anxiety around money and my kid just started a Roth. Like, that'd be my favorite email in the world.
- [14:04]
A
Awesome. We're excited for this. We'll see you all in the community. And I think that this is going to be very cool. And we're just said we're excited. I'm going to say it again. We're excited. That's it for today. We'll see you all there. The information presented is for educational purposes only and is not intended as an offer or solicitation for the sale or purchase purchase of any specific securities, investments or investment strategies. Investments involve risk and are not guaranteed. Any mention of rates of return are historical and illustrative in nature and are not a guarantee of future returns. Past performance does not guarantee future performance.
- [14:38]
B
Viewers are encouraged to seek advice from a qualified tax, legal or investment advisor professional to determine whether any information presented may be suitable for their specific situation.
- [14:49]
A
Hey everyone, it's me again. For the disclaimer, please be smart about this. Before doing anything, please be sure to consult with your tax planner or financial planner. Nothing in this podcast should be construed as investment, tax, legal or other financial advice. It is for informational purposes only. Thank you for listening to another episode of the Ready for Retirement podcast. If you want to see how Root Financial can help you implement the techniques I discussed in this podcast, then go to root financial partners.com and click Start Here, where you can schedule a call with one of our advisors. We work with clients all over the country and we love the opportunity to speak with you about your goals and how we might be able to help. And please remember, nothing we discuss on this podcast is intended to serve as advice. You should always consult a financial, legal or tax professional who's familiar with your unique circumstances before making any financial decisions.