Episodes

Episode 158: Climbing Down The Financial Mountain With David Rosell

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The proverb that it’s harder to climb down a mountain than go up is true in every sense of the word. Here’s a gruesome stat – between 1921 and 2006, 56% of deaths above 8,000 meters occurred on the return trip  and 17% died turning back. Just 15% died on the way up. The rest died of other causes. Similarly in financial planning, as hard as asset accumulation proves, planning for retirement is much more complex. Today, we talk with David Rosell who happens to be both an experienced climber and financial planner.
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Episode Transcript

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[paul_tyler]: hi this is paul tyler and welcome
to another episode of that annuity show ramsey

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[paul_tyler]: how are you this morning

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[paul_tyler]: good coming to us from atlanta actually
in hartford connecticut today and listen we’ve got

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[paul_tyler]: a great guest somebody who is m
has written books has podcast show has a

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[paul_tyler]: podcast and is a has a very
successful financial planning practice out in the west

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[paul_tyler]: david rozelle david author speaker wealth manager
and world traveller welcome they ad annuity

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[david_rosell]: thank

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[paul_tyler]: show

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[david_rosell]: you paul and ramsey a pleasure to
be on your show today

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[paul_tyler]: yeah well listen i thought this was
i thought would be great to have you

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[paul_tyler]: on the show for for a number
of reasons one is you know just to

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[paul_tyler]: start out you’ve got a really interesting
practice you know from what i understand and

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[paul_tyler]: and have read and seen in oregon
maybe you can tell people about your business

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[paul_tyler]: like who are you and you know
what do you do how do you describe

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[paul_tyler]: people when they say oh and you
wrote this book and you do what else

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[paul_tyler]: do you do

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[david_rosell]: yeah well we we set up a
practice here in beautiful bendoregain in the center

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[david_rosell]: of the state big resort town twenty
two years ago and like most people in

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[david_rosell]: our line of

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[paul_tyler]: oh

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[david_rosell]: work we were all things to all
people in the beginning if you could fog

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[david_rosell]: a mirror we’d work with them and
as you gain more and more

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[paul_tyler]: oh

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[david_rosell]: expert tease you usually have an affinity
towards a certain part our business and so

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[david_rosell]: today the focus of our practice is
helping people in the second half of our

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[david_rosell]: financial journey so all of our clients
are at or near retirement they know how

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[david_rosell]: much money they have but they don’t
really have a clear idea before they meet

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[david_rosell]: us of what their money can or
can’t do for them for the rest of

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[david_rosell]: their lives

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[paul_tyler]: ah now i talked to a lot
of adviser and say i’m working on a

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[paul_tyler]: book i’m thinking about a podcast i’d
like to do speaking you’re doing that kind

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[paul_tyler]: of tell us how did ow did
you evolve how did your whole business evolve

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[paul_tyler]: from you know what i’m a really
good financial planner to i’m really going to

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[paul_tyler]: take my practice and clients hell up
to the next level

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[david_rosell]: yeah well regarding the book you know
my intention behind our third book is coming

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[david_rosell]: out later this month

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[paul_tyler]: oh

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[david_rosell]: but having never

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[paul_tyler]: yes

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[david_rosell]: written a book before i realized is
that financial planning retirement planning is such a

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[david_rosell]: mondaine heavy topic for so many people
and

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[paul_tyler]: yeah

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[david_rosell]: our goal was to make it actually
fun

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[paul_tyler]: yeah

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[david_rosell]: in the way that i was able
to accomplish

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[paul_tyler]: oh

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[david_rosell]: this was mixing my two unique abilities

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[paul_tyler]: yeah

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[david_rosell]: or my two two passions in life
and one is for international adventure travel ve

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[david_rosell]: had an opportunity to spend a month

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[paul_tyler]: ye

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[david_rosell]: any five different countries around the world
which is a whole nother story um and

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[david_rosell]: then every chapter would start with one
of these stories and

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[paul_tyler]: oh

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[david_rosell]: then link into a financial lesson right
when there was one or two many charts

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[david_rosell]: at the end of that chapter it
would go right into another financial story another

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[david_rosell]: travel story and so our goal is
to add some levity

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[paul_tyler]: yeah

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[david_rosell]: into financial planning interestingly enough

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[paul_tyler]: yeah

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[david_rosell]: the books went on to get

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[paul_tyler]: yeah

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[david_rosell]: endorsed by icons and are in the
world of motivation and finance and sports and

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[david_rosell]: now we get most of our new
clients are coming in from the books

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[paul_tyler]: interesting interesting um and i mean at
what point i’ve read the books and i

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[paul_tyler]: want to come back to your adventure
travel and and some of the stories and

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[paul_tyler]: and i read you know i’ve actually
listened to a couple of these podcasts talking

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[paul_tyler]: about your the use of coaches and
stuff very tempting when you’re successful okay in

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[paul_tyler]: a practice to say i know it
all okay sometimes very hard to say i

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[paul_tyler]: need a coach at what point did
you seek out coaching at what point did

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[paul_tyler]: you say you know what this is
actually really kind of changing how i’m approaching

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[paul_tyler]: life ye

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[david_rosell]: i mean i think seeking out a
coach in business or seeking out a life

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[david_rosell]: coach is coming from a plain place
of strength rather than weakness and i always

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[david_rosell]: want to a student

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[paul_tyler]: oh

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[david_rosell]: and the more that i learn the
more i realize there’s so much more to

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[david_rosell]: learn the more that i travel the
world the more i realize i haven’t seen

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[paul_tyler]: oh

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[david_rosell]: so much

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[paul_tyler]: oh

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[david_rosell]: in so you know tiger woods

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[paul_tyler]: what

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[david_rosell]: the best golfer in the world

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[paul_tyler]: oh

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[david_rosell]: and he had two coaches so for
crying out

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[paul_tyler]: oh

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[david_rosell]: loud it’s important to continue learning and
bettering ourselves i’ve had coaches in my

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[paul_tyler]: oh

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[david_rosell]: life for a long time started out

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[paul_tyler]: oh

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[david_rosell]: with people like wan dire in napoleon
hill and reading books and always you know

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[david_rosell]: nightingale cont tapes

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[paul_tyler]: yeah

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[david_rosell]: but then when i started my business
i really start out with a life coach

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[david_rosell]: because i think as much as we
have our some of us like to think

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[david_rosell]: we have our our stars are lined

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[paul_tyler]: oh

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[david_rosell]: and we know what we’re doing it
really helps just get through the stresses of

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[david_rosell]: life as having someone guide you and
then and then over the years i’ve had

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[david_rosell]: coaches like dan sullivan who still might
coach twelve years later with strategic coach which

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[david_rosell]: i’m sure a lot of the listeners
are either partaking strategic

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[paul_tyler]: m

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[david_rosell]: coach or or ware of him

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[paul_tyler]: yeah

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[paul_tyler]: yeah

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[david_rosell]: so this is from a client perspective
yeah you know i think most people most

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[david_rosell]: very successful people even out there in
the world know very little about money

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[paul_tyler]: oh

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[david_rosell]: because

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[paul_tyler]: i

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[david_rosell]: they didn’t teach us in school didn’t
teach us things like the law of seventy

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[david_rosell]: two or the power

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[paul_tyler]: oh

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[david_rosell]: of compound interest which einstein said was
the

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[paul_tyler]: yah

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[david_rosell]: eighth wonder of the world and many
of us learned about money from our parents

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[david_rosell]: and what did our parents the most
part know about money very little and their

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[david_rosell]: parents learned about

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[paul_tyler]: oh

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[david_rosell]: money lessons from their parents who live
through the great depression so there’s a lot

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[david_rosell]: of fear around money so i think
one of the most powerful important investments that

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[david_rosell]: most people out there can make is
finding a true financial coach which is what

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[david_rosell]: all of us are to our clients

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[paul_tyler]: oh

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[david_rosell]: so so important to get that guidance

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[paul_tyler]: yeah well i listen thought i thought
your stories of going to packasstan and capi

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[paul_tyler]: i love them you know part part
of this is you know i’ve seen how

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[paul_tyler]: climbing has transformed a lot of lives
one of the charity i’m involved with we

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[paul_tyler]: actually do work with disabled athletes and
climing actually has been important element of the

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[paul_tyler]: program fact you know i was i
was not part of this particular trip but

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[paul_tyler]: we took some disabled athletes challenged you
know we don’t say challenge that but it’s

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[paul_tyler]: a exceptional athletes to the top of
mount kilmanjaron back down and you know we’ve

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[paul_tyler]: kind of all heard a lot and
use the nail you know it’s much harder

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[paul_tyler]: to come down the mountain than it
is up but it’s it’s true right david

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[paul_tyler]: and i and it sounds like you’re
very been very active in the mountain climbing

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[paul_tyler]: field what are the challenges you know
coming down that that that hill today i

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[paul_tyler]: think they’re more treacherous than ever you
know what are your clients saying what’s their

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[paul_tyler]: state of mind today m

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[david_rosell]: ah well to pick you back on
that whole analogy that many

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[paul_tyler]: oh

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[david_rosell]: of us have heard with the mountains
in failure is not an option creating certainty

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[paul_tyler]: yeah

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[david_rosell]: and the uncertainty of retirement which is
that first book that you’re alluding to do

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[david_rosell]: share a twenty one day track through
the himalayas of napoule but then years later

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[paul_tyler]: oh

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[david_rosell]: i had an opportunity to meet one
of my heroes a gentleman named ed feasters

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[david_rosell]: and ed is the best mountaineer that
probably has ever walked the planet earth he

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[david_rosell]: summited mount evers seven times

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[paul_tyler]: oh

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[david_rosell]: successfully but did so each time without
supplemental oxygen it’s really possible feat for most

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[david_rosell]: of us and i’ll never forget when
ed shared with me that

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[paul_tyler]: oh

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[david_rosell]: most people think his goal is to
get to the top of evers every time

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[david_rosell]: and he said that’s the last goal
that any experience

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[paul_tyler]: oh

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[david_rosell]: mountaineer would have and i said what
do you mean and he said eighty percent

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[david_rosell]: of the accidents and eighty per cent
of the deaths happen on the descent he

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[david_rosell]: said so our goals to get to
the summit but make sure we get back

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[david_rosell]: down alive to our friends and family
and when he said it’s the second half

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[david_rosell]: of his journey that takes the most
amount of risk and needs the most amount

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[david_rosell]: of planning

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[paul_tyler]: yeah

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[david_rosell]: that was my a moment to relate
it to the work we do with our

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[david_rosell]: clients because when they reach their financial
summit which is the last day that they’re

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[david_rosell]: adding to their four o one case
and iras and now they’re

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[paul_tyler]: no

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[david_rosell]: opening up that income valve they’re going
to need that income

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[paul_tyler]: no

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[david_rosell]: for two three and sometimes four plus
decades and i believe it’s the second half

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[david_rosell]: of the distribution

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[paul_tyler]: m

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[david_rosell]: phase of their lives that also takes

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[paul_tyler]: oh

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[david_rosell]: on the most amount of risk needs
the most amount of planning

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[paul_tyler]: yeah yeah i think maybe maybe was
one of your i listen to a few

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[paul_tyler]: of your podcasts the i think you
told one story about repelling off a cliff

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[paul_tyler]: and i did that once we we
we took a bunch of athletes out to

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[paul_tyler]: the edge of right on the border
of utah and colorado and here was an

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[paul_tyler]: adventure race you didn’t really know what
you were going to do till the next

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[david_rosell]: yeah

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[paul_tyler]: day and you know i was helping
ramsey would have laughed at me i was

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[paul_tyler]: helping a guy who is who worked
in the air force worked in one of

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[paul_tyler]: these missiles silos and had lost a
lot of his vision he was bound a

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[paul_tyler]: determined david to repel off this two
under fifty foot cliff and i was just

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[paul_tyler]: pretending okay please back out of this

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[david_rosell]: m

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[paul_tyler]: please

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[david_rosell]: hm

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[paul_tyler]: please back

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[david_rosell]: m

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[paul_tyler]: out he’s like i’m i thought i
couldn’t back out ramsey so i came up

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[paul_tyler]: and dave that was scared for some
reason i have not been scared of heights

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[paul_tyler]: until for some reason later age it’s
hit me and i got up there scariest

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[paul_tyler]: thing on the planet and you talked
about repelling off that stuff and the trust

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[paul_tyler]: you know you have to trust your
gear you have to trust the people on

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[paul_tyler]: top of you um take us that
step on the planning side i mean what

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[paul_tyler]: are the emotions how do you coach
some you know ramsey ask you about coaching

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[paul_tyler]: how do you coach your clients through
that process oh my god i’m quitting my

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[paul_tyler]: job i got to are taking some
money out or i got to take my

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[paul_tyler]: arm these you know what’s that what’s

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[david_rosell]: yeah

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[paul_tyler]: the first thing they start to sweat
about

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[david_rosell]: well right now i think it’s about
getting their emotions in check and

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[paul_tyler]: yeah

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[david_rosell]: using another you know mountain analogy is
you visualize

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[paul_tyler]: a

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[david_rosell]: a boy climbing up

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[paul_tyler]: oh

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[david_rosell]: that same mountain with a yo yo
and the yo yo represents the stock market

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[david_rosell]: and when the yo yo goes down
they lose sleep it goes back up they’re

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[david_rosell]: elated it goes back down and their
stomachs turning and i think as advice there’s

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[david_rosell]: what we how we could really help
benefit our clients s by overtime teaching and

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[david_rosell]: training our clients to focus on the
boy carrying the yo yo because the boy

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[david_rosell]: in the yo yo get to the
top of the peak at exactly the same

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[david_rosell]: time and if you focus on the
boy rather than the undulating yo yo going

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[david_rosell]: up and down it’s going to be
a much

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[paul_tyler]: what

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[david_rosell]: more pleasant experience

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[paul_tyler]: m

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[david_rosell]: for everybody

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[paul_tyler]: my

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[paul_tyler]: oh oh oh

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[paul_tyler]: m

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[david_rosell]: i think it’s shifting people’s mindset who
are in the accumulation phase because if the

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[david_rosell]: markets are down say hovering around twenty
percent year to date you’re funding your four

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[david_rosell]: o

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00:13:46,210 –> 00:13:46,350
[paul_tyler]: oh

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[david_rosell]: n k each in every pay period
and alive this could be a blessing because

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[david_rosell]: every pay period

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[paul_tyler]: oh

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[david_rosell]: when you fund that dollar you’re getting
twenty percent more shares every time you’re contributing

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[david_rosell]: right now so rather than look at
it as a negative it is a positive

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00:14:04,449 –> 00:14:09,878
[david_rosell]: um and people are doing the exact
opposite of what they should be for the

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[david_rosell]: most at um if you’re building a
house and lumber goes on sale you stack

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00:14:14,152 –> 00:14:18,474
[david_rosell]: up on that lumber right now when
the stock market goes on sale rather than

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[paul_tyler]: ah

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00:14:18,574 –> 00:14:25,396
[david_rosell]: stock up we get rid of it
which is it’s counter intuitive um so fear

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00:14:26,539 –> 00:14:28,763
[david_rosell]: f e a r false evidence appearing

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00:14:28,839 –> 00:14:28,860
[paul_tyler]: m

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00:14:28,903 –> 00:14:34,352
[david_rosell]: real is how a lot of people
seem to make their their decisions when it

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[david_rosell]: comes to their finances and that again
comes back to where having that so that

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00:14:38,840 –> 00:14:44,581
[david_rosell]: adviser to hold their hand really educate
them inform them with the facts like there’s

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[david_rosell]: never been a down market in real
estate or the stock market that hasn’t rebound

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[david_rosell]: to hit in all time high now
where the challenge or one of the many

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00:14:53,062 –> 00:14:59,012
[david_rosell]: challenges comes on the descent is when
you’re taking with jaws every month to live

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[david_rosell]: in retirement

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00:15:00,039 –> 00:15:00,060
[paul_tyler]: m

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00:15:00,535 –> 00:15:05,403
[david_rosell]: in the markets or down twenty percent
un to sell twenty percent more shares to

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00:15:05,464 –> 00:15:10,601
[david_rosell]: get the same ten thousand dollars that
month and that’s where some real planning planning

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[david_rosell]: for these recessions which we average one
every eight point eight years really

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00:15:15,691 –> 00:15:15,772
[paul_tyler]: ah

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[david_rosell]: comes into play

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[paul_tyler]: wow

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00:15:39,870 –> 00:15:40,232
[paul_tyler]: yeah

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[david_rosell]: really not

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00:15:43,483 –> 00:15:44,825
[paul_tyler]: yeah so so

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[david_rosell]: it’s

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00:15:44,886 –> 00:15:44,986
[paul_tyler]: when

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00:15:45,080 –> 00:15:45,200
[david_rosell]: one

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00:15:45,086 –> 00:15:45,326
[paul_tyler]: flit

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[david_rosell]: client at a time

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[paul_tyler]: yeah well ll let me ask you
so today’s today’s climate okay record inflation i

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[paul_tyler]: could i could go through the whole
scenario here uh interesting time do you get

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[paul_tyler]: different questions or are you dealing with
any different emotions today than you were say

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00:16:04,518 –> 00:16:11,776
[paul_tyler]: you know you know four years ago
in the emotional reaction to the volatile changing

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00:16:11,836 –> 00:16:12,438
[paul_tyler]: marketplace

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00:16:13,539 –> 00:16:16,704
[david_rosell]: yeah i mean you’re hitting upon one
of the most important topics right now that’s

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00:16:16,884 –> 00:16:19,509
[david_rosell]: front of mind awareness for everybody i
mean all you have to do is go

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00:16:19,689 –> 00:16:19,769
[david_rosell]: to

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[paul_tyler]: my

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00:16:19,809 –> 00:16:22,654
[david_rosell]: the grocery store or to the gas
station

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[paul_tyler]: oh

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00:16:22,954 –> 00:16:28,280
[david_rosell]: and it’s smack dab right in front
of our face is i think it comes

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00:16:28,340 –> 00:16:31,786
[david_rosell]: back to education yes we’re at a
forty year high hovering

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00:16:31,530 –> 00:16:31,711
[paul_tyler]: oh

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00:16:31,826 –> 00:16:37,316
[david_rosell]: around nine percent a lot of people
don’t remember that inflation was eighteen per cent

278
00:16:37,416 –> 00:16:44,117
[david_rosell]: in nineteen eighty but it really comes
back to the law of averages and we

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00:16:44,217 –> 00:16:50,207
[david_rosell]: know that inflation is always averaged between
three and four percent so if something is

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00:16:50,728 –> 00:16:54,454
[david_rosell]: hundreds lee’s this year on average next
year it’s going to be a hundred and

281
00:16:54,554 –> 00:17:00,084
[david_rosell]: three dollars and fifty cents not a
big big deal but over time like a

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00:17:00,164 –> 00:17:03,876
[david_rosell]: twenty year time period even at three
and a half per cent ation the cost

283
00:17:03,956 –> 00:17:09,121
[david_rosell]: of living doubles so that’s what really
needs to be playing for if for example

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00:17:09,141 –> 00:17:10,663
[david_rosell]: you have a forty year old client

285
00:17:10,535 –> 00:17:10,556
[paul_tyler]: i

286
00:17:11,363 –> 00:17:14,386
[david_rosell]: who says i want to retire by
the time i’m sixty and live on a

287
00:17:14,486 –> 00:17:16,388
[david_rosell]: hundred thousand dollars and edit taxes

288
00:17:16,380 –> 00:17:16,400
[paul_tyler]: m

289
00:17:17,059 –> 00:17:20,969
[david_rosell]: as planners we need to make sure
that they’re putting enough money away to take

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00:17:21,050 –> 00:17:25,721
[david_rosell]: out two hundred thousand dollars by the
time they’re sixty and by the time they’re

291
00:17:25,761 –> 00:17:30,689
[david_rosell]: eighty years young and they’re only twenty
years into retirement because graying means playing these

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00:17:30,749 –> 00:17:38,645
[david_rosell]: days um that doubles again to four
hundred thousand dollars so i think by educating

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00:17:38,745 –> 00:17:45,957
[david_rosell]: people it’s not focusing on this nine
percent inflation rate as much as it is

294
00:17:46,057 –> 00:17:50,285
[david_rosell]: the damaging effects of the three and
a half per cent that it will always

295
00:17:50,485 –> 00:17:51,527
[david_rosell]: average over time

296
00:17:56,731 –> 00:18:07,749
[paul_tyler]: so i guess it’s a challenge environment
ramsey i i seem to be getting raged

297
00:18:07,809 –> 00:18:14,761
[paul_tyler]: by my friends with different opinions as
to why the numbers are changing and why

298
00:18:14,861 –> 00:18:19,549
[paul_tyler]: the numbers are going the wrong direction
when they’re going to change the answer those

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00:18:19,669 –> 00:18:27,462
[paul_tyler]: not simple one so i’m not sure
you know dave to ramsey’s question you know

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00:18:28,363 –> 00:18:34,534
[paul_tyler]: how much can people comprehend you know
inflation it is global at the moment you

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00:18:34,594 –> 00:18:35,215
[paul_tyler]: know i don’t think

302
00:18:35,196 –> 00:18:35,689
[david_rosell]: hm

303
00:18:35,535 –> 00:18:39,602
[paul_tyler]: when you’re looking at the gas when
you’re you’re filling your tank it feels like

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00:18:39,682 –> 00:18:45,812
[paul_tyler]: it’s very local um m i think
we’re i think we’re headed for a very

305
00:18:46,013 –> 00:18:56,029
[paul_tyler]: interesting year or so as uh uh
any kind of emotional reaction that people may

306
00:18:56,130 –> 00:18:59,593
[paul_tyler]: want to take will manifest self david
i think there’s i think people are going

307
00:18:59,653 –> 00:19:04,598
[paul_tyler]: man a lot of coaching in the
next year to avoid making some really terrible

308
00:19:04,638 –> 00:19:05,078
[paul_tyler]: mistakes

309
00:19:17,529 –> 00:19:17,610
[paul_tyler]: yeah

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00:19:32,550 –> 00:19:32,791
[paul_tyler]: oh

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00:19:45,892 –> 00:19:51,402
[paul_tyler]: david you writing your book about you
know waking up and having a experience in

312
00:19:52,243 –> 00:19:56,029
[paul_tyler]: cool and paccusind i was supposed to
be going a trip to peru with my

313
00:19:56,190 –> 00:20:00,917
[paul_tyler]: wife here about two months ago she
called me up and said you won’t believe

314
00:20:00,958 –> 00:20:07,949
[paul_tyler]: this we’re quarantine because of riots over
the cost of food escalading in peru so

315
00:20:08,399 –> 00:20:08,561
[david_rosell]: yeah

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00:20:08,530 –> 00:20:12,335
[paul_tyler]: as bad as it is here wow
we’ve got lot of global issues that are

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00:20:12,555 –> 00:20:15,258
[paul_tyler]: going to keep this thing cooking for
a while

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00:20:16,339 –> 00:20:20,726
[david_rosell]: yeah we should really count our blessings
for how fortunate we are because even when

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00:20:20,786 –> 00:20:24,412
[david_rosell]: we are going through tough times like
you’re both sharing compared to the rest of

320
00:20:24,452 –> 00:20:28,900
[david_rosell]: the world when you want to put
it in perspective countries like zimbabwe is wala

321
00:20:29,380 –> 00:20:31,584
[david_rosell]: who have had over a thousand percent

322
00:20:31,740 –> 00:20:31,760
[paul_tyler]: m

323
00:20:31,744 –> 00:20:38,355
[david_rosell]: inflation on the anualized basis last several
years so in many ways you know what

324
00:20:38,395 –> 00:20:42,302
[david_rosell]: we think about expands and rather than
come from a place of fear or lack

325
00:20:42,803 –> 00:20:45,407
[david_rosell]: and i don’t mean to just kind
of say oh it’s no big deal that

326
00:20:45,447 –> 00:20:49,854
[david_rosell]: inflations nine per cent but it’s only
half of what it was in nineteen eighty

327
00:20:50,375 –> 00:20:54,642
[david_rosell]: and we’ve come back from that and
we come back from whatever in ran right

328
00:20:54,703 –> 00:20:59,771
[david_rosell]: now we’ve had a string of incredible
bowl markets and real estate in the stock

329
00:20:59,851 –> 00:21:05,801
[david_rosell]: market and non sophisticated investors who have
an experien down markets in the past think

330
00:21:05,841 –> 00:21:09,147
[david_rosell]: that this is the only way it’s
going to be and it’s like a pressure

331
00:21:09,227 –> 00:21:13,113
[david_rosell]: cooker when you’re cooking with a pressure
cooker that steam is being released on the

332
00:21:13,193 –> 00:21:17,821
[david_rosell]: top and if that steam couldn’t be
released that pressure cooker is going to blow

333
00:21:18,001 –> 00:21:18,102
[david_rosell]: up

334
00:21:18,060 –> 00:21:18,424
[paul_tyler]: oh

335
00:21:18,422 –> 00:21:22,869
[david_rosell]: and go right through your ceiling and
right now we need some steam being released

336
00:21:22,990 –> 00:21:26,756
[david_rosell]: in the hot real estate market and
the stock market this is not

337
00:21:26,760 –> 00:21:27,002
[paul_tyler]: oh

338
00:21:26,976 –> 00:21:29,220
[david_rosell]: a bad thing what’s happening now this
is

339
00:21:29,180 –> 00:21:29,360
[paul_tyler]: yeah

340
00:21:29,300 –> 00:21:34,589
[david_rosell]: a normal market it’s not even a
major market down market

341
00:21:34,603 –> 00:21:34,623
[paul_tyler]: a

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00:21:34,649 –> 00:21:38,676
[david_rosell]: i mean twenty eight months ago the
market dropped thirty four per cent and just

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00:21:38,796 –> 00:21:43,071
[david_rosell]: over a week when covid became reality
and we go back to o eight and

344
00:21:43,131 –> 00:21:46,057
[david_rosell]: early o nine the s and p
at one point was down to fifty seven

345
00:21:46,177 –> 00:21:47,449
[david_rosell]: per cent and

346
00:21:47,571 –> 00:21:47,754
[paul_tyler]: yeah

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00:21:47,629 –> 00:21:52,297
[david_rosell]: dot com crash it was down forty
nine percent so it’s really important to just

348
00:21:52,373 –> 00:21:52,393
[paul_tyler]: i

349
00:21:52,397 –> 00:21:58,727
[david_rosell]: put the facts into perspective for clients
so that they realized the world is not

350
00:21:58,848 –> 00:22:02,057
[david_rosell]: caving in and although by watching the
news we might think it is

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00:22:02,380 –> 00:22:06,066
[paul_tyler]: yeah ramsey on that note perspective to
add

352
00:22:11,919 –> 00:22:11,940
[paul_tyler]: m

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00:22:25,983 –> 00:22:34,190
[paul_tyler]: at oh yeah oh m

354
00:22:38,379 –> 00:22:40,634
[paul_tyler]: m yeah

355
00:22:45,232 –> 00:22:48,690
[paul_tyler]: oh yeah

356
00:22:56,850 –> 00:23:01,396
[paul_tyler]: yeah oh oh oh

357
00:23:09,009 –> 00:23:09,191
[david_rosell]: yeah

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00:23:10,964 –> 00:23:17,735
[paul_tyler]: yeah all right well david roselle author
of failure is not an option creating certainty

359
00:23:17,936 –> 00:23:22,926
[paul_tyler]: in the uncertainty of retirement david is
book one of three what’s the best way

360
00:23:23,006 –> 00:23:27,416
[paul_tyler]: for people to find more about you
follow you listen to you on your podcast

361
00:23:27,877 –> 00:23:29,366
[paul_tyler]: where should they go yeah

362
00:23:29,559 –> 00:23:32,925
[david_rosell]: yeah well if they enjoyed podcasts which
your listeners do

363
00:23:32,880 –> 00:23:33,204
[paul_tyler]: oh

364
00:23:33,646 –> 00:23:35,549
[david_rosell]: my podcast is called recession proof

365
00:23:35,610 –> 00:23:35,811
[paul_tyler]: oh

366
00:23:35,629 –> 00:23:42,280
[david_rosell]: your retirement with david roselle and we
talk about different things to do pep prepare

367
00:23:42,381 –> 00:23:46,588
[david_rosell]: for having a successful retirement in the
descent and we’re also at

368
00:23:46,659 –> 00:23:46,680
[paul_tyler]: m

369
00:23:47,088 –> 00:23:51,656
[david_rosell]: roselle wealth management dot com and that’s
r o s e l l wealth

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00:23:51,690 –> 00:23:51,913
[paul_tyler]: oh

371
00:23:51,756 –> 00:23:52,678
[david_rosell]: management dot com

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00:23:53,400 –> 00:23:56,565
[paul_tyler]: all right we listen thank you very
much thank you ramsey and thank all of

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00:23:56,605 –> 00:24:01,253
[paul_tyler]: our listeners and listen give us feedback
give us suggestions for who we should have

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00:24:01,293 –> 00:24:06,364
[paul_tyler]: on our show and join us again
next week for another episode of that annuity

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00:24:06,424 –> 00:24:07,087
[paul_tyler]: show thanks

The discussion is not meant to provide any legal, tax, or investment advice with respect to the purchase of an insurance product. A comprehensive evaluation of a consumer’s needs and financial situation should always occur in order to help determine if an insurance product may be appropriate for each unique situation.

Ashley SaundersEpisode 158: Climbing Down The Financial Mountain With David Rosell

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