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KJCE 1370AM>Audio on Demand>>WorthPointe Wealth Watch Podcast 08/09/14

WorthPointe Wealth Watch Podcast 08/09/14

Aug 10, 2014|

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Automatically Generated Transcript (may not be 100% accurate)

It's time for work quite well watch -- Christopher manslaughter. Partner and founder of worst point so we'll see. Tired of the same sales pitches disguised as financial advice Christopher is a certified financial planner who will give you the real facts about investment. -- play in this state by. Good afternoon Austin, Texas and we're really excited to be reviewed this afternoon talking about. Something I think that strikes near and dear all our hearts charitable giving. We have a local. Expert Lacey Jones who's an attorney. Who specializes in this area and also. Serves on the board he's still on the board for you off now. I am president of the board percent of current president of the board for senator -- child protection. Come along with Scott O'Brien. Whose -- point guy Scott gonna say -- Political and yes I serve on the board with -- -- can she help me on the board that's a lesson and not more it's meant another report got another mechanic and and there is not on the board. Anyway we're gonna talk about its. Smart ways to do terrible planning Brent talk about what the center for child protection does just to let you guys know it's a really important. Impact on charity here in Austin. And that's we're gonna do today but first we're gonna Google news item from Scott Bryant. -- -- wanna give you -- 2014. Halftime report. I know it's a little tardy. But it takes me awhile to them but all things it takes a lot to compile these numbers us uneasy. But the -- The F fixed income for bonds the thirty year treasury bond yields dropped from three point 97 at 3.3 six. Resulting in these longer term bonds outperforming stocks for the first half. 2014 -- to be stocked up over 12% thank you very much want. Commodities pork bellies are up 74%. Meaning you should have bet the farm on pork bellies for the first half of 2014. That's my helicopter by the way -- can hear that. If we see out the window there -- think that -- you -- Can you give the traffic report that is -- that's my new helicopter thank you very much. Individual -- this is an important point because remember couple weeks ago you pointed out that. It good companies not are not necessarily. Goods stocks and good values threat so here's the big winners on the big winners for left first half I do next pharmaceutical. Globalstar. VIP shop holdings -- your energy we ever heard of any of those. -- so some of the big losers for the first half Bed, Bath & Beyond. Twitter when that your favorite companies are staples it was a big loser. Whole foods which is in the here in Austin. Ironically the Biggest Loser for 2014 was a rocket fuel. And but not ironically one of the big losers was Weight Watchers a big loser so there you go hah -- yeah. -- -- is the 2014 made -- view -- Christopher a couple of points. -- -- -- -- -- -- You know. I couldn't let go and apparently this -- Obama was in town -- -- couple weeks ago and I was stuck in -- Well we're not gonna -- -- inventory if I didn't say that the look on Scott's face when he came in after spending how many hours reviewing that Obama's I was literally in on our behalf and I always in front of the building -- was supposed be in for a half an -- I was I was a hundred feet from the garage and -- went on the sidewalk to get in -- -- -- and say -- I started losing to another radio station that morning. And suspect calls and -- caused me to miss my my job interview this whole -- Traficant. And then the announcer guy goes well you wouldn't be -- first person lose their jobs could ever put out on the Internet and on yeah. Anyway. So lazy give us a little bit about your background how did you come to become. An expert in charitable giving in the state planning and -- And and government. -- So I've been in the planning world since I graduated law school. Went to work for a major a life insurance company. I worked in when he's their back office helped them -- planning approaches with their clients. So at the end of the day after we talked through the estate planning what they're doing and how they're doing it. They're hoping that they can find a liquidity need and they sell life insurance so it was an added benefits to use they're selling the plan. But it was great for me because I went straight from law school brought into the fire you know back then. Back then when you Nolasco fears you know get just a couple of years ago I think have really come along way. And so -- folks I know that if -- -- now my age I'm guessing that she looks like her couldn't make -- unfortunately. For me. That aspect in 96. And we were talking about cells to defective trust back then so that was. Now fairly common but now everybody talks about right anybody and everybody talks about the back then it was a it was a big deal cutting edge. Civil life insurance companies were really pushing the envelope on the on the strategies the right they can much more so than these need to speak planning lawyers. Thank you find around taxes because they can make a lot of money because you've -- those trust with. Life insurance to pay -- and noticed that grant toward dies before the -- compete can be paid off right so prisoners typical hourly estate planning attorneys not. They're -- they're not motivated quite the same not this is just one trust -- so you work so when did you break away from the life insurance. So I've worked there for a few years and then realized that the back office wasn't where I want to be. Like people mom I enjoy it most people. -- So I decided that I wanted to be there isn't room for us to be rejected him. Right now but I wasn't really a thirty minute show. We can get -- an hour before he roses out and I thought. They'll be another show after this show talking about who didn't make -- -- And so I went in and started practice and why am I in the back up some China experts that's -- I wanna be in front in the front office -- we're just not. When -- set up that way. So I went. To work for a law firm and I was just down the street mrs. Mac and went out that the Dallas. And I loved it -- to sit down people work it out figure out what they're Dylan and it was a real estate firm. And they just kept giving me cases whatever I needed whenever I can do so that's what I did and I just kind of created it. Started with the to just wills contrast and it just built from there set up private foundations. Helps people with charitable remainder trust. Help people win it just a mom and pop. Documents. Business planning it would it would it was that. Plethora of different planning it was a lot of fun comment it was good because I can take my time. Not to say that I was new at this and they would understand and they liked that I was kind of figured it out with them you know. They liked my billable rates at that time. Who. I got a few more wrinkles. So glad I did that for a while and then. I had a great opportunity to go work for a private bank at the Dallas. A national and worldwide bank. And I was in their private bank and at that time the role was Caldwell strategist. So rather than creating the plants. And then the document and having to pay all together and having to keep track -- my billable hours and I decided that this was the point again and I got to sit down with very wealthy affluent clients. And talk to them about all the way from their wills their business planning their cheerful planning their income tax planning and beyond. It was a great opportunity for me probably gets exposed to do some really. Big interesting complicated -- cash and -- clients from all over you know all over it was great I enjoyed it. But I got the point where my family needed me a little bit more to have some flexibility in my schedule I have two kids and that was. Come a time that back and the toward the end of 2008 rallies like a candy some flexibility here -- got to do something different. So I left there and decided to end. Came around -- present when did you move to Austin at that point now I was already here I had made to. I had made through the private bank from Dallas and Austin com and my my territory he will changed at that time because my family here. And Southwest Airlines airlines -- -- design. Like Southwest Airlines. The commute was getting a little bit out of control at one point so they offered up this territory here from the answer here so those critics. Cool but we're gonna take a break now and we come back we're gonna talk just focus this show is terrible planning so we're gonna start talking about that. CF Brittany. Can -- yeah. In that. Can ask said man. Changing. And attack. Okay. This season. He no match. Between ramping government spending in uncertainty about our economic future most Texans are having doubts about their own financial future. Are you ready to take a serious look at your financial goals using the experience the only certified financial planner practitioner is it worth point. Would you like a second opinion on your current advisor who may be selling you investments and insurance for commissions -- worth when he radioed I've come to make an appointment or call 8885447760. That's worth point radio dot com 8885447768. Welcome back to work quite well watch giving you an unbiased people under the hood of wealth management. Investment and financial planning. Once again here's Christopher advanced life. Welcome back off than we are talking about him a subject that's near and dear to our hearts which is charitable plan. And we have Lacey Jones. Who is a local estate planning attorney. You house a lot of heavy involvement has really anybody who does that would because she's doing with people who have lots of assets and turn it becomes. Can't become a part of what they do and a big way I was gonna ask you Lacey what. What percentage of the people you work with have -- one tenant act on it any significant way. I think that's that's a loaded question because he has different answers so let's start with. I only ask -- -- -- Get something straight here. Ethic and they can sit back into -- -- news talk generally loaded up at halftime but I'm not he had very. And so. I would say. 80% of my clients have a charitable intent and do something and a little something and to to. Accomplish that of the objectives that they have in mind for their charities. When -- out more than a little something yes so you you're talking when you say a little something and that would mean just set up a trust or do I make a large. Contribution this year or upon my past saint. I would say probably about 10%. Now legally you know like I'm arguments among that would leave 25% of their networks right here. That's about 10% -- but you've got about 10% and that's generally because most people think. Well I'm gonna give when I K and but ultimately I wanna take care of my family charity starts at home right. It an -- would fight what a network adjusted -- and I said. What is what happened -- that percentage is among people who have a network of twenty million more. -- it goes up by. And vile lot like I have a client to his family has multiple foundations just within their family because as the numb as the zeros. Accumulate and with taking -- to attack. What you know that's -- point I mean a lot of people struggle without a whole idea and there's percent or is there some guilt involved in on clients. They come to me and I we know we've talked to in the -- Charitable intentions and things like that and then -- -- -- start off the first charitable intent is coming your kids. But you take that -- sent back it's really view and you know it's good though some people say they'd like to I worked really hard to kind of wanna spend this money happen to return maybe you didn't do that. And then certainly can about your kids. In and then it's you know start thinking about other charitable causes that he you wanna. You may want to contribute but don't feel bad if you worked hard if you wanna spend this money and I think. The higher the more money people. The borders are thinking about these things you have this kind of. Actually yes I tell my clients you know our goal this for the last -- to about the funeral home right that's our goal might not enjoy it. But if if that doesn't happen then what's our next game plan. Com and Mike Warren Buffett said. You know I wanna give them enough to do some thin but not so much they do nothing right. I think it adds clients' wealth. Gets larger. And as they go on in life. They will realize a -- did this for my kids. -- practice left when I can do that mean and that's when they start looking back on giving back to the community. Dating back to things that aren't they have a heart strings -- And that's when our clients will start talking to us about our right. To I'm taking care of me I know that I talked to my financial advisor not financial advisor says I'm gonna have more than I need. So how much John wanna leave my kids are I have to have put that aside. Now let's charity and how what can I do and I think most people if they're at that point. If they don't do anything they don't know what to do you mean because it is a whole other world out there when it comes to charitable planning. Yeah I think that's great process to go through what what do you think about you know -- always urge. They're there is this usually when I asked someone do you have any charitable intent they tell me what they gave that here. You know they have thirty million known network the CEO we can't 151000 dollars church. And I'm thinking well I was really talking about thirty million. And so what I encourage people to do although it's sort of goes against their nature to give away their assets. Is if you have thirty million dollars give some away now so you can enjoy seeing the impact it has. Mean it's all it's all fine good have your -- take care of people after you're gone but hey how about what you're living. Yeah I think that relationship between you and that nonprofit or that. And perhaps keep your children involved in him and what's going on and and be able to teach him let's listen as well. Exactly right so what are what are some of the techniques what's. The low hanging fruit. Ford during life giving Smart giving and then. Some of the things some of the basics about what people should know. They can include in their statement and what you think about. The first group would be moderate like all the mass affluent people with a network five million are under. And then -- people with network 525 million. I think you have to first look at just lifetime giving right what you're doing during your lifetime amateur giving. Sit down with your CPA sounder financial advisor and talked enough about. What can I -- That there are limitations on what she can get and the deduction you can take so there is some income tax planning in there that needs to be taken into consideration. Because you have a certain limitation on how much you can never take for an income tax deduction then you've got F five your carry forward so. Most CPAs and financial advisors we sit down and talk to you about what you do when and how you're doing it that. Just sit down and write a check on December. Thirtieth at the end of the year is not Smart way to do it he's got to sit down on the future assets and pick and choose the right assets because. If I give you stock. And your nonprofit you take that stocky cash it out because to. Wherever I said that I wanted to to go or to your general fund right. If I say you have got some stock I wanna get to that charities let me cash to stock out. I'll pay some taxes on because that no more than in my my fair market value is more than my bases right so pays in taxes and I'll give you what's left. A bit -- the problem with that is that you have less in your pocket my nonprofit that I won a benefit. Then. You would've had if I would just handed over the stock T got to be Smart about what choice but choices your making a -- which asset you're gonna give. Yeah his Uncle Sam believe it or not there are some great things that tax code. To help you if you are charitably I. We had a gentleman walking our office last week who had done. Thirty you know and he hit sixty million dollars he's just sold his captors about sales company and he had no lawyers. And is I was we almost to know what to do because normally the conversation is how do we deal with the estate tax and how -- not ruining kids' -- It was all gonna go to charity in the the government actually sort of lets you out of the estate tax if you have to -- one -- you know for all your money. It's certainly what are portion you do. Choose to have a terrible intent through at least you don't hear that he's that the a state that exactly. And their income tax benefit so in general when you give money to qualify -- charities you get income tax deductions but you're limited. By adjusted gross income right that's correct so and I don't remember exactly what the numbers are but depending on the type of -- you're giving too. You get more or less. And then as you're saying the -- Kerry four means that you get -- it may -- you Max out on when you get this year you can use it for five years correct count against him. -- and it depends on it that the deductions depend on which -- what -- the charity given Tito public or private. And do what type of -- -- giving so there's a whole chart. Nerdy little chart out. She's she's gone and kind of work Chris we're saying and -- maybe five million and below and -- 25 and who knows where it. Oh where you see kind of a defining line if any from and network standpoint I'm. When it's appropriate set -- private foundation. OK let's hope that until after the break -- I can tell you -- think about it. -- -- -- -- -- -- And. Time. It. The. Between ramping government spending in uncertainty about our economic future most Texans are having doubts about their own financial future. Are you ready to take a serious look at your financial goals using the experience the only certified financial planner practitioner is it worth point. Would you like a second opinion under current advisor who may be selling you investments and insurance for commissions visit worth when he radioed I've come to make an appointment or call 888544776. Feet. That's worth -- radio dot com 8885447768. Welcome back to worst point wealth watch giving you an unbiased people under the hood of wealth management. Investment and financial planning. Once again here's Christopher dance -- Welcome back and we are having a great conversation with Lacey Jones about charitable giving internal and ten. And so forth before I forget. He could find -- Linkedin FaceBook and Twitter. By searching -- point with a knee you can also finest work point radio dot com. So we were about to launch into Morgan's question about private foundations. Yeah. I think you know that there's a lot of people a lot of people. Wanna do it rich people -- sometimes and a lot of people no idea yeah and there's -- So and so has this private foundation gotta be cool I wanna do and I don't think it's appropriate for everybody. So they end I don't know if there's net worth cut off for a or maybe. In a tent. Aspect of this what your thoughts. I'm sure that it's not really -- network cut off -- generally you know the estate tax on right now. Is are exemptions a little more than 5000005340000. That we can pass the state tax free to our children. -- So generally a husband and a wife and they've got -- -- over ten million dollars you're looking at. OK now you know that ten million little more than ten million and some change is going to the kids. Do you want them. Have taxable estate you were gonna pay -- to Uncle Sam or do you wanna put some shared -- here how -- we wanna deal with what's going to be due. At the second death. That's when you start talking about -- -- generally but I wouldn't say that you have to start there because they might not want their kids to have. Ten point six million dollars used to blow they might one of benefiting charity. I tell people all the time let me tell you about private foundations there fabulous there -- a lot of fun. He get to sit and pets my knees together and sit on a board. And which -- kids and involve your kids and what they're dealing NN. And decide what charities you know benefit from -- the wealth as -- accumulated. That's great and that's the pie in the sky. Which you have what she have to know in what I usually tell my clients and try to talk them out of set up a foundation and then if they still want to after I tell on all the all that other side of it the rest of the story a few well. If they still want addict and we'll talk more about it but it's a lot of work. Can you give us just a -- -- the other side -- the church says you know first you have to decide and I gonna set up a try after my concept that a corporation. Is -- going to be a nonprofit until I -- got Danica set it up here at the state where the state I decide I'm -- incorporating and and then after I did that and I got to make sure that they know it's a non profits I have to check certain boxes and do special things to get to the nonprofit not just a normal corporation. And then I have to fill up lots of paperwork and I have to pay lots of fees to make sure all the documents or improper order. And I fended off to the IRS. And they decide whether. I can have a nonprofit or not so there's who sells a lot of potential unintended consequences pitfalls fees and expenses and it is just mean happy directly for right and then. After I do all this. If I'm a very private person I became very nonprofit because. I have to put them enough there for everybody to see so that they can say about my nonprofit and what it yes. Such as to requirement an innocent or not you personally or are about about -- that the mission -- the private foundation so if you care about. You know next conducts. And that's what the foundations about an analyst and that's right. That's right inside the parliament more private than that I tell people. You know you might start by just dipping your toe in the water forty you already -- -- you know from maturity perspective what do you already given to charities and how are you doing and how you make the decision and -- on the table with your family and decide. Every Thanksgiving I -- since the kids were old enough for them to kind of understand. What we're doing and I would give the kids. You know monopoly money and they committed. Give -- -- guys can -- fan and I think you can give to any nonprofit you want to and I was very excited when you're with filing made beyond the zoo. Two other nonprofit yeah I did they come over the hill -- and hit somewhere that I set up a foundation when I did that. You know I sat down with them and said we're thankful for what we have there's. Nonprofits out there that take care of other things animals people places things. Let's skip to them and tell me how you wanna do that to what you wanna give to them. You can do that without setting -- a foundation and in as the kids get older they become adults and they have their children can continue this on without -- with the foundation. Com the foundation really is when you start. Putting it together and making it right in wanting to pass a multiple of -- down so starting went. You can no one at least a million dollar in foundation before you ever decide this one. You know that that one of the struggles that have clients is. That you know we always wanna take his layered approach to estate planning to start with the will -- -- as you get to know them in the get him back in you do more advanced things. Promise you don't always known we're gonna die. So even though they're like oh yeah we'll talk about that -- stuff later they mean right before we got. Unfortunately some of them die before they expected to end. In a way you kind of have to go there with some people if you think they might have a terrible intent today. You don't have to certain given the money away but it needs to be in the estate plan if that's your intentions it's a -- conversation I have right disk. Talking to people about dying it's. Not fun that's why I really like to emphasize the term opportunities and like you said establishing that relationship. With the charities while their lives. So they can enjoy the design on people's faces right and right now your charities Uncle Sam. You decide what you tell your charities going to be eight. Other than Uncle Sam which you know another aspect of we just talked about Christopher is. Well a lot of people. They may think big don't have enough money now to be having that conversation but if they do end up living in another thirty years. United and and maybe there is there money if the interest rate. They've got maybe they have five million and if they in thirty years it's ten times that. And that's a conversation it is really start. Plan and so now even though you think maybe I'm not enough money to give -- -- we just ask you straight out you know OK you got. Ten million it looks like it's -- got one million but it looks like it's going to be ten million when you die. You you have three kids the -- wanna meet you get 3.3 million. And just let me think about it well I don't know if they need three million you know -- -- maybe communities. Known to India and a. -- -- some people have no they just have businesses that they don't they don't you know how much it's worth of them because they're out they're not really him. In the frame of -- to sell it at some point and they're not what you're seeing and not thinking of planning at this point. And we these two for the couple fell as we talked to lately there to get these -- businesses and cash element is. They don't know they are not thinking of state planning they're not thinking of terrible giving. And all of a sudden they're thinking of selling and businesses and now it's come to come to pass they have to start thinking about it and it it would have been better that they -- start thing about it at a time. Well that's that's what our job is him introduce this into the conversation. I'll tell his story we get back about a one a planet had about ten years ago we did something terrible and died very soon after and better and it. Taught me a lot about us we see after the break. Come see it and. Some astonishing and -- It's. Even though only paying back and I'm. Man and his name. All brand name change alone. Okay. Yeah. Between ramping government spending in uncertainly about our economic future most Texans are having doubts about their own financial future. Are you ready to take a serious look at your financial goals using the experience the only certified financial planner practitioner is it worth point. Would you like a second opinion -- your current advisor who may be selling you investments and insurance for commissions freeze it worth when he radioed I've come to make an appointment or call 8885447. 760. That's worth point radio dot com 8885447760. Welcome back to work quite well watch giving you an unbiased people under the hood of wealth management. Investment and financial planning. Once again here's Christopher advanced life. Good afternoon off then we are having a great discussion list. Lacey Jones attorney and charitable giving expert. Here in Austin and Els -- tell the story. About a client. I ice to talk about all this advance planning and have that many clients 1015 years ago they were really wealthy enough to do much in this. -- but I did I was fortunate to you. -- -- gentleman and his wife -- who had just sold he would he was a professor of physics -- San Diego State he just sold his company for. Market. And his wife was schoolteacher. But these were really these were not fiery entrepreneurs we were just just regular. You know school teacher and physics professor mild as mild mannered -- again it's. But I remember they came and looking for our particular investment strategy but of course I'm trying to broaden the discussion. And start talking about this my -- there were about 65% in the years old so they win more -- and you're gonna need and they were very clear about. How much -- -- -- yet and some new what do we do -- -- well. There's this the non profit foundation you can probably have one. Tell me so I told not worked. One thing I learned is that you have to write admission. Further foundation. And so I helped them write him a mission they've spent their lives in San Diego and they really believed in the San Diego river being a place where children in San Diego could enjoy nature -- are those -- conducts. Go the next conducted through hard yes sending your children like Morgan Marx once plus. You got up the ducks and almost every discussion -- and a unit member and so I. So we need they did an estate planning drew it up -- attorney like. They -- and six months later I get a call from the gentleman. His wife has cancer. And I remember going to visit them in their home and she's saying to me you know I'm really glad we did that foundation. Because that heard the foundation was going to be partially funded. They took cash and we talked a little more about what she wanted to happen in the types of uses for the money and so forth and I felt really good because as a horrible situation that this. Client coupled you're so excited to be working with. You know I don't his wife of forty something years is gonna pass away. But at least I had something good talk about in the meeting which -- hand really glad -- did she put her hand on mindset I'm really glad we did that. You know of all things going on. The things that happened when someone's. Really -- for her to get to think about. Because we had to talk more about the mission. What was gonna happen and you know it's just really isn't warm milk and meaningful. Look at type of thing. And that's -- I was saying earlier even when it's an uncomfortable time and even when you folks out there in the listening audience don't wanna think about dying and charity think about it because. You never know when your numbers up and if you have the -- you need to put it down and writing now in a Smart way someone like place. Now view you know size -- your options and put it right so that's that's one of my stories I'm sure you have many stories like. Given your room. Which you do on a daily basis with the folks but. You know I just let it gave a lot more meaning and in charity gives more meaning to the estate planning process besides avoiding the estate tax. Which is a pretty -- You know and more for me less for them kind of conversation -- runs into more meaningful area. And ever I remember when I first started doing this you know the idea of legacy planning just -- -- 25 can relate -- -- get -- you know as people get older. What the world thinks of them after they're on matters. And there's little besides charity can have a bigger impact on what the world thinks about it. Yeah how do you bring that upping coveted -- would that would Clinton know we've worked together it was from clients and and you're very good about. Starting these conversations so it did you -- isn't isn't natural for you or did you have some training in and who isn't that -- There and amp. I wish I could tell you it just comes now yeah yeah you're very good at it now I get out of that particular birds are all circling my hang in there -- back guarantee. I noticed that actually lived in the meeting CTC have a halo over here and well you're not looking at lazier books which is a diminutive. Sweet looking southern woman who looks cheerleader type cheerleader type that with a rarely sweet voice. And I think it has a lot to do with her success is that it is easier it's -- you package it up nicely I think how hard conversation for people. -- and and that and they always in it it it's inevitable they'll ask didn't give clients rarely walk in the door and say this is what I wanna do. Picture legally used to it this is what we're gonna do and -- Joseph and I don't go. Lol what are my options are what is her body else do now is gonna know what their body -- stay right. And I said you know -- -- complaining this goes from the very simple -- the most theory complex and it just everything in between. But the bass playing and I can tell you to do as far as the state planning perspective. Is if you had gone to that next place regardless of what your beliefs are whatever that next places. And you could come back as a guest in hand out your money how would she do it. -- -- Will guide us through everyone's feeling so good I think it's been almost thirty minutes and no one's got kicked off the show yet he cannot -- -- Bob Altman a trilateral quick yeah. I don't know if you know about philanthropy where -- network came from but it sort of Greek origin. And it comes from philanthropy post meeting -- man -- so. Take that -- about the women love the -- well see she wants to keep me up yourself. And I know that he left it's funny I I didn't expect and his work sort of good. Well at some point I wanna go into what you do what you guys both the center for child protection. Whether. You have donors. Who are clients are. People who become clients because there are. Somehow meet you through the center for child protection. You know I think that. To be quite honest they start out with clients and then they asked me what I do or they look on my website and they say -- you're involved with this and what does that what does that mean because that's confusing what is Centre for child protection it's got to be some. Important to talk about protection and children drank. So a lot of times I would say more likely deny it starts out with my practice and it moves into the center which benefits the sinner which I'm. You know a big fan -- so do we short. Have the ability to do that I hope. That certainly as time goes on more and more of our clients are getting older ask us for our input on where their charitable dollars can go. And I I hope to be able to the dimensions center for chopper factions some of the other than wanting their depending on us for. Is to help -- -- the chair and so to an extent that we have experience. And knowledge of the good ones you know we can help steer some of those dollars so as one of the reasons that that I have taken the time to get to know -- true that. And it's so that I can help my clients make choices if they want their help and they did. Will your life. Yes was a dancer OK we have to bring that up prank not a stripper I think she -- The audiences think you're shooting she -- and I wound slowly able to pull a lot of good. Yeah you -- -- and -- that we're gonna have to go. What we just got kicked lakers coming back next week and we're gonna pick up this conversation right here I think there at. Have a great week. -- --

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