How time can change retirement planning

Steve & Ted
Thursday, February 15th
Moneytracker Don Grant talks about the difference between his retirement and his daughters'.
00:09:55

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

I mean is approving it seems like there's a whole lot. This homer job. I'm available on unemployment is down. He's still there are people. Thirty came and there's this weird isn't it in the morning things including his didn't hear ability. They've won the February 15. 646 now three big things unique. You federal tax law could boost Kansas tax revenue by half of given the others seeded second suspect arrested in Wichita homicide police looking for two awards suspect line. High school shooting leaves seventeen dead in Florida. Three big things even dead on K and assess. And taking a look at the roads in Wichita this morning you know things are starting to pick up out there. Heavy traffic right now on KC 96. Looking especially. Eastbound 1996 reverend hillside area itself. They're by the north entrance of heavy traffic traffic on Kate and as has brought you budget problems and broken you're tired it downtown market and Waterman. He's very street mall and online April tired dot com your home port complete car care. Mostly cloudy and warm today with a high of 75. Degrees mostly sunny cooler tonight goes up to 23 for the overnight little. Partly sunny breezy and cooler on Friday down to 3975. Today's 39. Tomorrow. Now partly cloudy 62 degrees it was southwest wind at fourteen miles per hour the seventies and then into the twenties in the overnight. Thanks find the comfort of a hat and express your personality go to advent Jack's find your own style seemed like people. From around the nation may have been jacked their destination at 2 o'clock hour in delay in 0601 west Douglas has been yes. 647 now Stephen Ted stocks ended the day in positive territory Wednesday. But it didn't start out that way. Stocks finished higher despite a higher than expected inflation report that many feared would lead to another selloff. And rate hikes. While the Dow Jones Industrial Average after starting to the downside finished higher by 253. Points. At 2400893. The NASDAQ Composite up a 137. B 143 the S&P 500 up more than 35. At 2698. Dow Jones Industrial Average plenty of winners Nike Goldman Sachs IBM caterpillar JPMorgan. Helped to lead the way the ten year treasury yield did move higher gold gained about 23 box on the inflation concerns. On the floor of the New York Stock Exchange Cole families Fox News. Money really can buy happiness as it turns out but you may not need as much did you think. Much dead. How much money in a year's time would make you really happy use as can be then it's a number on it you don't have to let's start was six figures six figures okay. It's 101000 dollars that's five. But don't need to be nice that they. A large analysis published in the journal nature. Human behavior. Use data from the Gallup world poll survey of more than one point seven million people from 164 country to put a price on optimal emotional well being. It's between 60075000. Dollars a year. I think that's means more or less and debating what country your. Anyway maybe they. Waited itself way that a line who passed research on the topic which found that people are happy just when they make about 75000. Dollars a year. To you don't make that much can you be happy every other year statement Beers maybe 30000 of Abdul and years and that's an epidemic. Now aren't half as happy as I could and half the staff. Have been like that's a way to measure happiness in terms of beat. Always happy. Incur a blizzard that today. We're here later today it's the second day OK don't need it. The thanks for noticing I don't know that it would buy happiness but it was certainly. An eight. Eliminate some stress again and he makes it easier to pay bills and yeah exactly stuff like that sleep better tonight in your health if you're rich you're healthier if you're richer. Really right yeah because you have less stress on Bosnia never noticed a dime and never sick now. He's a man killers yet felt so relaxed let's probably comes in wearing it's his monocle on his bat don't you. Like community chest his stride yeah. Fifty years after the federal fair housing act to ban to racial discrimination in lending. African Americans and Latinos continue to be routinely denied conventional mortgage loans at rates far higher than their white counterparts valuable late in this. Going to millions of whole mortgage disclosure act records analyzed by. Reveal from the center for investigative reporting modern day redlining we call it. Persisted in 61 metro areas even when controlling for applicant's income loan amount and neighborhood. This is a racial thing that apparently of course the study still going strong. Fifty years after the hour now. 651 now Stephen Ted how my daughter's retirement will differ from mine Doug grant CF PR do well the bunny tracker sharing some personal information. Here's some personal information. My retirement will be dramatically different from my dad's day he planned well but also there were many more employer provided benefits to help them along the way. He had several pensions. As well as social security and get this one private firm provided health care for life. For both him and mine mot all well now now I have the advantage of a couple of partial pension from a previous work and there's a good chances Social Security will remain intact for my lifetime and we've always contributed to either an IRA or 41 K is. They are were were insulated they were instituted rather just before Barbara and I entered the workforce. But what our daughters what you know their college right now and are on the late cusp of being either millennia old gen Y you were to be determined to generation Z group I don't know others say there's so many of these things. By the way these generational labels don't mean squat. Other than a way to classify consumers and for the media to describe a crowd at an event. Bad how well my daughter's pay for their retirement. I I really wonder what formed a security will pay now must government and economic analysts. Did that did that I read seem to think it's a security will exist. But it may be taxed differently means tested or perhaps actual dollars withheld may be attached to one person. As with the retirement account that means that they will not be able to rely upon Social Security for as much of their retirement income as many do now. Probably nobody knows though the stock market will probably still be the primary place for investment growth we can't predict the future but. I'm already encouraging my daughters to create several streams of income for retirement that means. Sacrificing some time early in their careers to purchase or rental property or to invest in the small business. That creates income. Another investment they may be an insurance product that promises a certain level of growth and or income in the future. Now we are living longer and my daughters could actually see three centuries believe it or not. They were born in the late twentieth century in atoning for good. You know they are both very health conscious health care is sick it is expensive and not getting cheaper yet. Well this sense the odds that they'll live longer we are encouraging healthy habits in working on ways to insure insure health care costs for them hopefully. Anyway it's a big mystery but it's going to be a lot different for them that it is for me in of course via any question that he'd give me a call number six report 2222. They won him first to 101112 years of our marriage and I had no way it's a minute. To put out the notes doc somewhere in broadcasting your read net pensions we didn't have four Owen case often. You have a pension back then no and so the 401K came about and in. And radio companies start and right that helped a bunch and and it's. They're little and everybody that's the that's I think the Roth. Rather yeah piracy good deal isn't it way to go even if you're a little bit older I mean it's it's a good place to to put money because if you do have a legacy can be passed on tax freeze well. OK now. Well let today's singles awareness today. The day after Valentine's needed to designated singles Wednesday declaring to the world there's nothing wrong with being single. Who said there what I mean that you can expect some sort of a single discrimination thing going in here it is you know really posted. Create a problem that hasn't existed as a good honest hard nothing like getting maternity yesterday and then you're thrown it to me again here today at all. So if you sensitive about I won't mention again that its single Wednesday. You were like yeah Alec yesterday I wasn't aware of and I'm single today I am. Temperature bureau you don't know I have to be are you heavily and through our too heavily into your relationship. That's an items personal. And BS and and is it with you is it rocky now. But it but it's just done. It's none of your position is that in my movies where the peace and always listening come on just between us tonight. Between instead they'll be and yet always listening. They probably aren't I guys will skip on past this when 650 I know. Got up at 7 o'clock hour another mass shooting at American school we've got to tell you all about that. And second suspect arrested in the homicide that's even dead. On Kate and a sense.
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