More Knowledge, More Wealth - Ep 154: Beware of Media

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[00:00:00] gabe: Good afternoon, everybody. This is Gabriel Shahin certified financial planner, and your host of more knowledge, more wealth here on every weekend. Talking about all important topics of personal finance. Our goal is to give you the knowledge you need to increase your wealth now to the Lister, reach out to myself or any one of our colleagues here at Falwell.

[00:00:58] Our phone number is (855) 963-2526. That's 8 5, 5 96, Falcon like the bird where we can help relate this show to your specific situation. Now to the listener, you can always reach out to myself or any one of our colleagues here. We have offices all across the state of California. We help people all across the country folks.

[00:01:21] And so please give us a call. We'd love to. Where really we can help answer the questions that you have. Those could be tax related, questions, investment related questions, business related questions, retirement, something as simple as a mortgage to a car loan versus a car lease. Folks who name it, anything that involves a dollar sign.

[00:01:41] And I'm just one of the many assets we have at FAL wealth planning. I'm a principal of Falcon wealth planning. Remember we are fee only registered investment advisory. that does manage money as well, but we really specialize in comprehensive planning folks. Give us a call. We would love to help our phone number (855) 963-2526.

[00:02:04] That's 8 5 5 96. Falcon like the bird. We would love the opportunity to help out and always feel free to visit our website. We have the knowledge center on there. Falcon wealth planning.com. That's Falcon wp.com. For sure. So I'm going to talk about a good amount of things today. Really the main core of what I want to discuss is this volatility in the market.

[00:02:29] Now, listen, the market has rebounded a bit. The markets were down over 20% and 35% respectively of the large cap S and P 500 and the NASDAQ right now, it's rough. It's under 20% on really both of those indices, maybe 20% on the other. So on the NASDAQ, my point is, do not fall for the false narrative that the news throws your way.

[00:02:52] You gotta understand this is noise. It's entertainment. I feel sorry for when they incorporated in the nineties rating systems on news, because now they were incentivized to have you watch so they can sell you and take advantage of you. And, you know, you have to understand when do people tune in people tune in when there's turmoil, when there's fear, that's the number one time people actually tune in and watch TV, listen to the radio or start Googling things that are happening.

[00:03:22] It's when there is duress, that's going. , this is when people are glued to the screen. My era, the biggest one was nine 11. You couldn't stop watching that equivalent to what happened when JFK got assassinated about 30 years earlier, you get what I'm saying? So there are times when people. Are just glued to the screen.

[00:03:45] And the media's goal is to get you freaked out is to get you worried, whether they're getting you worried about who's currently president who will be president laws that were to take effect or more importantly, the stock market dropping fearful saying recession, beware, be careful you remember how bad it was in 2008.

[00:04:05] They're trying to worry you to freak out and make poor decisions. And I'm here to tell you number. Calm it down. Okay. Don't get advice from the person that only gets compensated if you buy , which in this case is tuning into the TV. Don't listen to them when you're trying to see if you want to purchase.

[00:04:29] Insurance don't get the advice from the person selling the insurance, get a third party, an unbiased opinion. That could be crucial for the success, if it makes sense. So my point to you of course, is be weary of what you hear, what you read and what you see. It's not all unbiased because their. Is to get you worried to get you worried about the war in Russian Ukraine to get you worried about what's happening with China and Taiwan.

[00:05:01] And if, when everything else fails, what do they do? They focus on North Korea, right? If everything else fails, they focus on monkeypox right. Economy was doing great. Some would say, look what they talked about, what happened with COVID and the economy boomed even after. Just beware because with that and with volatile markets, people are now trying to sell you junk.

[00:05:25] They're trying to sell you some insurance products, insurance. Think about that for a financial substitute. for, to help supplement your retirement. It's an insurance product. It's a return of premium product. It's a product that only helps like a index universal life. They're trying to sell to you that can help in retirement benefits.

[00:05:45] When the reality is they're returning the premiums, they're charging you way more upfront for nothing. And there's promise you false guarantees. Read between the lines you don't read between the lines. That's the issue people are having. I'm here trying to help you with. I want you to be prepared, to protect yourself, to understand that there are predators out there trying to take advantage of you.

[00:06:12] Unfortunately, the financial services industry is a cut throat industry. You have to be aware of that. You have to, you've seen the TV shows. You've seen the movie. so why are you still listening to them? You know what it is? It's the convenience factor. It's a safety factor. You've been banking at your bank for 30 days.

[00:06:33] And now you're talking to the advisor over there trying to sell you a fixed or variable annuity. You, you get what I'm saying? You have to think better than that. You gotta think, how are these people getting compensated? They're selling you. , it's not in your best interest. You know what it is, it's suitable for you.

[00:06:51] Well, anything can be suitable for you. I can argue a slap in the face is suitable for you for some of the dumb things you probably did in the past. and I'm sorry to be brash here, but my point of telling you all this is that you have to talk to an unbiased. Individual by the way, folks, if you're just joining us, you're listening to Gabriel, Shahin certified financial planner and your host of more knowledge, more wealth here on every weekend.

[00:07:15] Talking about all important topics of personal finance. And today, I just want to talk to you about these people trying to sell you junk. I wanna talk about the news. The whole agenda that's goal is to scare you till you can watch the TV. So there kit ratings. So the insurance companies on there, or people on there trying to sell you to use their service.

[00:07:34] Right. Isn't that how it works? That's the con of capitalism, right? Is that you have to protect yourself because there are some ambitious, greedy, and sometimes unethical individuals, their goal is to make money and to make that off you, you get what I'm saying? So just be. Careful of what's out there, please.

[00:07:54] You have to be aware of what's going on. You have to be your best asset. And just like what some people do is they like forming partnerships. You formed partnerships with your friends, with your family, with your spouse, with your kids, but there's also unbiased in third parties where you can form a partnership with I'll give you three examples.

[00:08:17] People form a partnership with one is with an attorney. How many times have that saved you. If you needed an attorney, I pray you never needed an attorney, but the point is sometimes that relationship is huge. You can tell your attorney something, you can't tell anybody else. That's number one. Number two is your accountant.

[00:08:33] You share things about your personal financial situation with them, with your tax situation, your income situation, that only they know you hire them to help you reduce your taxes. You hire them to help you prepare your taxe. The last one is your financial advisor. These are the people you share your most personal dreams, goals, ambitions with, and they help achieve those.

[00:08:57] You notice on that last one, the financial planners, the advisors out there we've been talking about managing your money. Most people out there that's, all they care about is managing your money. That's all they care about. Cuz they only get paid when they sell you something. Cuz once you buy it, they wrote that ticket Chaing.

[00:09:14] They get paid by having a partnership in place with these three individuals could be huge. We like to cover two of the three and lead the show on the third. What do I mean by that? Our firm does do taxes. Our firm does do financial planning. We just don't do any tax work as of yet, or excuse me as any trust work as if yet, excuse me.

[00:09:36] My point is is, but we help lead the show. so with you, you may think you need millions of dollars to do this. That's not true. I'm not trying to say it's free, but what I will say is that we are offering a free financial assessment to see where you are at this stage in your life and what you should be doing.

[00:09:53] We'll point you in the right direction, cuz maybe in heck one to two years, one to two quarters, one and two Mo one, one to. Decades from now, you come back and you will be able to have our help. And yet again, we don't help the millionaires. I mean, don't get me wrong. We do. But we also like to help the aspiring, wanna become rich.

[00:10:13] And with that, you have to be willing to take that first step. We just help somebody not too long ago that they'll be coming back probably in six months to a year. Man, that happens all the time. You have to understand, we get about 600 people calling in on a monthly basis. We're blessed. We grow on volume, but we also are larger than the average firm.

[00:10:34] It's not the Gabriel Shahin show. It's the more knowledge more wealth show. I don't work for Gabriel wealth management. I work for Falcon wealth planning. My point is it's bigger than one individual. It's a team. It's a team effort that we've built with hundreds of years of experience to be. to help achieve your goals.

[00:10:57] We've seen it before. It's actually nice. When we've seen something we haven't seen before, cuz we actually get to learn something and we like doing that research. We have a strong team in place of our accountants, of our planning department and of our advisors. We love learning folks. That's the only way you continue to grow in this world.

[00:11:18] I was taught at a young age. If you stop learning, you're. so don't be a no at all. right, because it's human nature to continually. and part of this show today was to warn you of what's out there to protect yourself of what's out there to be aware of all of the negative sides of money. And that is them trying to sell you things, them try who's them.

[00:11:42] Who's they it's wall street guys. It's your big banks. It's your credit unions that are out there. It's anybody that's commission based. That's who you have to be aware of. That's what you have to be. because they only get paid if you buy. So when we come back, we're gonna talk more about these markets.

[00:12:01] We're gonna talk more about the media out there and what you should do to protect yourself and to be aware of these sales pitches that are out there that are highly unethical. And to be careful of them, we're gonna take a quick break. We're gonna be right back after a few words.

[00:12:19] Welcome back folks. This is Gabriel, Shahin certified financial planner, and your host of more knowledge, more wealth here and every weekend talking about all important topics of personal finance. And today we are talking about the media out there, how they love to scare you. And that's. Job. And that's their intention, especially since they're getting ratings and paid off the ratings, that's how they get the commercials, right?

[00:12:39] More people that watch more people will pay to be on their channel and their job is to get you glued to the TV that's in essentially their main focus. So what does that mean for you? Well, that means you have to be prepared that you're gonna get DED every time you watch the local. You're gonna be duped by the time you watch the financial networks or so on.

[00:12:59] And when you see negative on the TV, that's when the ad prices go up, they get higher, they get more expensive on there. It makes sense. Right. They paid for it. More people are watching when they're freaked out, but you have to think how bad is it really? You still have unemployment at hovering around 3%.

[00:13:21] You still have C. Making profits making money, not losing billions of dollars like they did in 2008, you have a lot of sectors that are excelling during this inflationary high interest rate environment. You have to look at yourself, how's work going, are you busy or are you slow? Right. If you're busy, that's good for job security.

[00:13:45] That's good for your company. Your business. I've noticed people are more busy than ever, you know what I'm. And on top of that, you're working more than you used to be 30 years ago. Did you have a cell phone where you're answering emails or answering phone calls? You get what I'm saying? So I actually had somebody pose that they should be a four day work week because they're working that much more, cuz they're working from homes through remote VPNing to their server or being able to, like I said earlier, good on your phones and so on.

[00:14:16] Just continually work, we're work more efficient on top of that as. so the idea of this is generally you see on TV, what you hear does not translate to reality. Now I know that's not a shocking comment, but some people just don't capture that. Cuz when they're in the moment, they're hearing that somebody's telling them recession's gonna happen and they emotionally connect with you and say your retirement is gonna be.

[00:14:44] It they'll even paint a picture for you. Tell me about your retirement plans. Oh, I'm gonna sell my house, move to central coast. We're gonna be close to the water. It's gonna be great. Nope. You can't do that. Look at the market. Your portfolio's down 20, 30%. Sorry. You can't do it. You failed in life because of the market.

[00:15:00] What if I could showed you way? You could still achieve your goals by not do investing in the market. That's volatile that you could lose and I can get you into a more safer product. That's a pitch. I mean, you fall for it. Sometimes guys get an opinion, a second opinion, because the markets have dropped.

[00:15:20] You've taken the loss. That's the risk of investing. Now. It's time for the reward. The rebound August has been great so far rebounded pretty well. And if you would've bought that annuity or insurance product last a month, you would've missed out on that recovery. You could've made two to three to four years worth of what that annuity would've paid.

[00:15:42] in just the past few weeks. What's my point of sharing all this with you is please, please, please be careful. This is why there's no substitute of speaking with a financial professional that doesn't sell you crap with all due respect. That's not commission based that doesn't lie to you and say, oh, this isn't your best interest.

[00:16:03] This is what I do for my mother. This is what I'm doing myself. Oh yeah. Show me your. Pull it up right now in this conversation. I wanna see it. Now show me your holdings. Prove it now where I'm not signing and watch them squirm. Show me mom's account. Watch them. Oh, I'm not allowed compliance. Set. No, it is allowed.

[00:16:27] It's your account. You could do what you want. You could show what you want. This industry is. Don't fall for it guys. Every time I have people coming in here, 2, 3, 4, 5 years later saying I made a mistake. I should have come in. Well, how about now? You take action, take our information, pass it to somebody.

[00:16:46] You know, somebody at golf with somebody you go to church with you're friends, family, and say, if you're thinking about doing this, get a second. Try it for yourself first, just say, Hey, I'm not gonna, I'm here for the free assessment where we offer one to two meetings, one to two hours of our time at no cost.

[00:17:02] See what it's about? See what the ran and rave is. We have gotten multiple accolades throughout the industry through wealth management magazine, financial advisor magazine from register investment advisor, Intel from city wire. I mean, some of the biggest publications in our industry is recognize us as some of the top firms in the.

[00:17:23] why? Because we are competent second to none. We're very hardworking. And we are ethical. We are honest because we are the only non-commission advisor. True fiduciary. 100% of the time we get, we are so transparent on how we get paid. We tell people how we get paid. We charge either hourly through planning, fees or investments under manage.

[00:17:51] But no commissions, no third parties pay us. You pay us. And that's our industry just doesn't do that by the way, folks, if you're just joining us, you're listening to Gabriel, she needs certified financial planner and your host of more knowledge, more wealth on every weekend, talking about all important topics of personal finance.

[00:18:09] And my goal of this show is to help you. And that's why as we help people all across the. we would like you to take advantage of our free financial assessment answer any questions you have and to protect you if it's out there to not sell prematurely, cuz you saw red on the news. Not trying to time markets, a lot of people say, oh well I did, I did this great.

[00:18:30] Oh, I avoided this crash. Yeah. How, how have you done show me your performance over the past 25 years, I'll show you ours. How has your performance over the past 25 years, have you gotten an annualized rate of return over 10? you. Can't what I'm saying. Like, gimme a break guys. Great. You time the market. So why aren't you doing it for a living?

[00:18:49] Why are you gonna do, why would I do it for a living? I would just do it myself and have the biggest house on top of the biggest hill in the most beautiful beach. You get what I'm saying? Like it bothers me when you got know it all sometimes and think they're smarter than they really are. Get a professional help.

[00:19:06] Compare it to if you were in. To just do index investing because investing is the easiest part of this industry. Folks. That's why over 98% of financial professionals cannot even beat the market, cannot even beat their underlying index. So no financial professional can do it. Why are you trying to do it?

[00:19:27] And why are you working with somebody who does you can't beat the market, just join the market, give us a call. We would love to help. Our phone number is eight five five nine six three. 25 26, or just visit our website at Falcon wealth, planning.com. That's Falcon wp.com. For sure. We would love to help put this together for you to make sure you're not making mistakes, buying things.

[00:19:53] You shouldn't be buying, selling things. You shouldn't be selling and being sold products in a volatile market. What I could argue, it's the best time to be invested the worst time to sell and the best time to buy. I could argue. If the market historically does a 10% rate of return, which I'm not here to guarantee what happened in the past is gonna happen in the future.

[00:20:14] But if we can all agree that you're working for a paycheck companies are in business to make money. And our government's goal is to grow. I don't want to get a political conversation. we're not talking about leadership. We're talking about the goal of the government is to grow is to be more profitable, is to be a world leader than the markets do grow it's as.

[00:20:37] as that you wanna make sure you're not making any rash decisions to buy something that's silly because I've seen professionals say, oh, I'm gonna wait a little bit on this market. Wait for what? The point of time it was down 30%. What are you waiting for? Drop 60. Come on guys. What are you thinking? You can compare this to 2000 and.

[00:21:01] you have to make a decision based on what's in front of you right now. And if you feel in 10 years from now in five years from now, I don't care. If you're 90 years old, putting your money to work for you is vital. Not just for you, but your future generations. It's the most prudent. It's the most respected.

[00:21:17] And it's the most diligent thing that you can possibly do is to stay calm, ignore the noise and avoid what's going out. I used to share when I used to teach my classes about, uh, the Jim Kramer show, he's loud, he's yelling, he's throwing thugs, he's given recommendations. And there was a producer on that show that used to be the same producer as Jerry Springer.

[00:21:44] Remember the Jerry Springer show folks. That was a crazy show. What's my point of sharing that with you. It's all entertainment. The goal is to entertain you to capture your attention. This is a. Financial show and they over had the same producer as somebody at Jerry Springer, you get what I'm saying, folks, their jobs, they get you hooked and it's works.

[00:22:07] You listen, you pay attention. Just be smarter. Be smart enough to know that you're not smart enough to know everything. Be smart enough to know that you do need professional help everybody, including professionals get professional help. Nobody has the time. Some people don't even love this. and on top of that, you might not have the knowledge, the true full knowledge to do it.

[00:22:32] And even if you do have the knowledge, you have teens of 10, 20, 3000 plus individuals of research to do it better than you to construct a portfolio better than you. And to execute it better than you. My point is, is it could make sense for you to just get an opinion of what's out there. You don't know what you Don.

[00:22:58] It's as simple as that. So we are able to help folks. That's why we're offering a free financial assessment where we offer one to two meetings, one to two hours of our time at no cost folks give us a buzz. We help people all across the country. Folks. We got multiple offices all around. We'd love to help.

[00:23:17] Our phone number is (855) 963-2526. That's 8 5 5 96. Like the bird folks. That was a fast, fast show. I wanna thank you for tuning in with us this weekend. You can always reach out to myself for any one of our colleagues here at Falcon wealth planning. Our phone number is (855) 963-2526. That's 8 5 5 9 6 Falcon like the bird, or visit our website@falconwealthplanning.com.

[00:23:49] That's Falcon, WP dot. For short tune in every weekend, whether it's on podcast, whether it's Spotify, whether it's on your local network per radio or through our webinar videocast of this episode, we would love to help and you could see it folks enjoy your weekend, have a great week. And God bless.

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