Wealth-Building Secrets for HENRYs (High Earners, Not Rich Yet)

Eric Brotman [00:00:02]:
Welcome to Don’t Retire, Graduate, the podcast that asks you what you wanna be when you grow up so you can graduate into retirement with purpose and with passion. I’m your host and valedictorian, Eric Brotman. And after nearly 200 episodes and a year long hiatus, Don’t Retire Graduate is back for season six. We’ll be bringing in interviews with amazing guests every other Thursday. And on alternating weeks, we’re hosting a new segment called Diary of a Financial Advisor, which we know you’ll all enjoy. So please subscribe and check out our all new episodes every Thursday. Today, I’m very pleased to be joined by Jude Wilson. Jude’s been working with individuals, families, and businesses to achieve their retirement planning goals for over twenty five years.

Eric Brotman [00:00:42]:
He serves as chief financial strategist at Centrist Financial Strategies, specializing in retirement income planning and tax reduction strategies for baby boomers and retirees. He manages both day to day operations and client portfolios. Jude earned his bachelor’s degree in marketing and finance from Florida state university and a master’s of business administration from Rollins college, Crummer school of business. Jude, welcome to don’t retire graduate.

Jude Wilson [00:01:08]:
Eric. I am so excited to be here. Season six.

Eric Brotman [00:01:12]:
Season six. Yeah. We are, we’re really cranking. We took a year off to do a book. And now I’m having more fun at this microphone and and interviewing some really, really amazing people. And today, I get to interview a superhero. Like we’ve had superstars, but but you’re a superhero. And and I gotta show everybody the cartoon because, you are in fact, the rough guy.

Jude Wilson [00:01:36]:
That’s me. I don’t have that body, but that’s me.

Eric Brotman [00:01:40]:
Well, at the end of the day, I don’t get to interview superheroes every day, so I’m I’m real excited about that. And and we’re gonna talk a lot today about Roth IRAs and, you know, you you referred to it as the tax time bomb. I’ve heard it called the tax tsunami. I think, I I think there’s a a realization that income taxes in this country are not going to go down, that we have wild deficits and spending. And so we’re gonna talk about ways that folks can reduce their future tax bite. And I don’t know anyone who doesn’t want that. So, Jude, first, let’s start with your background and how you first of all, how did you transform into the Roth guy? Because I’m I’m I’m picturing a a phone booth, of course, but how did that happen?

Jude Wilson [00:02:21]:
So you’re showing your age there. The kids today don’t know about Superman in the phone booth. There’s no phone booth anymore. But the Roth guy was really important to me because I’ve been singing the the praises of Duhan Gharath since the invention of the account, but I wanted to figure out a way to to really connect with people in a humorous but educational way. And I thought of the Roth guy and, the graphic people who are much, better than me and much more artistic came up with that design.

Eric Brotman [00:02:55]:
I I think it’s a great likeness. You know, if if I ran into you on the street, I would say, hey, aren’t you the rough guy? So so there’s that. So today, I want to spend some time talking about Henry’s. And I don’t know if our

Unnamed Voiceover [00:03:08]:
if our

Eric Brotman [00:03:08]:
audience knows what Henry’s are, but Henry’s are high earners who are not rich yet. And so let’s talk about that demographic a little bit because there’s a fair amount of our audience who are trying to build wealth and trying to reach financial independence. And one of the things that stands in the way is definitely taxation. So talk a little bit about that demographic in general, and then specifically why this is so important for them.

Jude Wilson [00:03:34]:
Yeah. I ran across Henry’s in my normal practice. As you stated in the beginning, most of my practice focuses on people that are either getting really close to retirement or already in retirement. But what I started to notice were were the children of my client who were becoming very successful into their highest earning years and some of the siblings of my clients who were Gen Xers, not your typical baby boomer, and they all had a very similar issue. They made really good sums of money, but they weren’t they didn’t consider themselves rich because they just didn’t have the net worth yet. And so their trajectory could really take them to the stratosphere if proper planning was done correctly. And that’s where the value came in as we started to meet with them and talk about, look, this is how you get to where your parents are, or this is how you get to where your sibling is, by doing some proper planning. And, actually, you could be even surpass what they’ve done because you’re starting at a earlier age.

Jude Wilson [00:04:35]:
So having that runway of making a lot of money, but really not knowing the strategies of how to magnify and create a healthy net worth was is typically emblem of a Henry.

Eric Brotman [00:04:48]:
So it’s one thing to make a lot of money. It’s another thing to keep a lot of money. And more importantly, it’s it’s real important when you look at your nest egg to figure out how much is actually spendable. Because if a million dollars in a four zero one ks, as you well know, is not the same as a million dollars in, in a non qualified account or in a piece of real estate or in a Roth, it has a mortgage on it in the form of an unknown tax liability. So, so it’s, so I imagine that you’re helping a lot of people with some goal setting and sort of figuring out what that nest egg has to be. Are you trying to do this net of taxes? Are you trying to build a gross nest egg? And, and why is the difference so material?

Jude Wilson [00:05:28]:
A little bit of both, but let me go back and, and, and compliment you on what you just said, because a lot of people don’t realize that they have a silent partner in their four zero one ks in their IRA. And if you read all the literature and you listen to the gurus, everybody says invest as much as you can in your four zero one k, not understanding that if you believe as we do that taxes may dramatically go up in the future, your unseen business partner is gonna take a healthy chunk of that when you do decide to retire if taxes are higher, and some say taxes could be even double what they are now. So first of all, you set the stage absolutely correctly, and that’s what I educate people on. Secondly, we have another website called thetaxbomb.com, and there people can get a real understanding by plugging in their numbers or hypothetical numbers, what could be that that cut in your four zero one k or IRA in the future if tax if your four zero one k grows and taxes go up. So I think the first step is realizing that you do have a hidden partner. And then the second step is trying to figure out what can we do about it? Because we can’t control politicians. We just had a big election. Some people were very happy with the outcome, some people weren’t.

Jude Wilson [00:06:50]:
But the fact of the matter is we can only control our actions and planning ahead of time, understanding what may be coming and taking proactive, actions is going to help out tremendously.

Eric Brotman [00:07:04]:
So you said something I think is really important, which is that we can’t control politicians. I think there is a certain fear slash loathing slash distrust of Congress in general. And not just Congress, all politicians. But for right now, let’s talk about the legislators because, you you know, for many, many years, there’s been talk about is social security, for example, going to be solvent. And there are people who took social security at 62 because they were certain it was gonna be taken away from them, and they wanted to take it so they’d be grandfathered. And, of course, that has not yet come to fruition. And there’s all kinds of, third rails politically about Social Security. As soon as you mention it, you’re you’re you are vilified online.

Eric Brotman [00:07:44]:
However, there will be changes to social security. The question is absolutely what will they be and who will they impact? But I think the Roth IRA is the same. There are people, very intelligent people, CPAs even who say, you know, the problem with the Roth IRA is that despite the fact it would be unconstitutional to tax it someday, that’s never stopped Congress. And so the, the fear that a Roth IRA over a certain level would get some kind of surcharge, for example, or would not maintain that status has scared some people out of the conversion strategy. And I don’t know about you, but when I play monopoly, I play it with the rules as they are not the rules as they could be. So with the rules as they are, conversions make a ton of sense. So can you speak a little bit to can I can you speak a little bit to that, that, I guess the fear mongering that that comes out of that, but also could there be merit to that, to that fear?

Jude Wilson [00:08:41]:
It’s almost a reverse FOMO, if you will. So what what I think people may be afraid of is exactly what you said. You know, what could the politicians do? But if you look historically, two things that that make that Roth conversion, moving from money that will always be taxable in the future to money that will never be taxable again in the future. The fear people have of that making that move, I think, is around two things. One, is it possible that congress could change the laws? Well, yes. My favorite professor at FSU used to say, anything is life is possible. The question you have to ask yourself is how probable it is. It’s very unlikely that those rules will change because typically what government does is when they set a rule, people who’ve already taken advantage of it are grandfathered in.

Jude Wilson [00:09:30]:
People who didn’t take advantage of it and then wanna come in, those people have a problem. So I I would I would look toward history as our guide with that. And the second thing to for people to understand is, believe it or not, our highest marginal tax rate tax rate at in this country was at 94% at one period of time. Mhmm. So Mhmm. When you look at our marginal brackets today, we are at the lowest brackets we’ve been in over a generation. And I don’t know about you, but my mom and dad were not very wealthy. So mom used to shop at Kmart.

Jude Wilson [00:10:05]:
And when they had a sale, that blue light used to come on, and you’d run to the to wherever the blue light was. Oh, we got a blue light on taxes right now, and that blue light is not gonna stay on forever.

Eric Brotman [00:10:17]:
You know, it it’s funny. And I I remember Kmart very well. I so so it it’s funny because there there there’s a a piece of me that thinks that when there’s a sale on Wall Street in general, people think something’s defective. You I used to joke that if there’s a sale at Macy’s, there’s a line around the building, you know, at 03:00 in the morning. But if there’s a sale on Wall Street, something must be wrong. Now I will say marginal tax rates are at a historic low. But deductions are not really available to most people anymore either. So when when the tax brackets were in the nineties, everything was deductible.

Eric Brotman [00:10:56]:
And damn near everything you spent was deductible. So what it did was it took an entire generation and said, you can either spend a dollar or save 6¢. So they all spent the dollar. Why wouldn’t you? Of course you would. And that was to finance world wars. So I don’t see us ever getting back to 90%. However,

Jude Wilson [00:11:16]:
right.

Eric Brotman [00:11:16]:
I do think that the ways in which the tax code can be manipulated to be even more progressive for people with means, there are lots of ways to do that and lots of ways, and it’s, it’s low hanging fruit. It’s easy politically. So all of that, it leads to a perfect storm. So let’s for, for those folks who are listening, who don’t necessarily know how a Roth conversion works, or, or even how a lot of people think they can’t convert to a Roth or can’t contribute to a Roth because of their income. Talk a little bit about why why that’s a bit of a misnomer and there’s some exceptions.

Jude Wilson [00:11:49]:
Well, this is one of the reasons why I I love your show and people who are educators like yourself can really inform people that here’s what is really available to you. Because there’s so many myths and you, you’ve got to be working. If you’re working with a financial advisor or a CPA, you gotta be working with someone that’s truly knowledgeable on the rules that’s available to you. For instance, in in our firm, I love pictures and I love showing people visually. So we use something called a tax filter. It’s three filters that we sell post tax, pretax dollars. I’m sorry. Post tax dollars and tax advantage dollars.

Jude Wilson [00:12:29]:
So, pretax dollars are your four zero one k, four zero three b, IRA. All that money that comes in there, it’s sheltered, but it’s gonna come out at whatever the, the tax rates are when the time you take that dollar out. And so part of the strategy is moving money from money that will always be taxable, that pretax funnel, to money that will never be taxable, that tax advantage funnel. And as far as income is concerned, most of the Henrys that we’re talking about are working for a company that that has a four zero one k, and they probably have a Roth in addition to that four zero one k, a Roth four zero one k component. And it then you could make any amount of money and still contribute to the Roth four zero one k. So the the important thing to understand that if this is something that is of interest to you, and I think we’ve made a case why it should be interest to you, You can talk to a professional that can show you how to take advantage of it no matter how much income you make and where in in the journey of your savings you’re at.

Eric Brotman [00:13:35]:
So, so there are so many different strategies around this. There’s the backdoor Roth IRA. There’s there’s figuring out whether you have a traditional IRA or just a four zero one ks and why there’s a difference between the two. And a lot of that is beyond the scope of today’s conversation. Although having the right financial advisor and CPA makes sense. But there’s another piece of this, of this tax time bomb that, that I think has been missed by, by many. And that is with secure act two point zero, we’ve lost that stretch so that your Henrys who are making a lot of money and in high tax brackets, who, when they’re 55 or 60, if they’re blessed to have parents still living, who are 85 and 90, those parents may very well be leaving them IRA dollars. When they leave them IRA dollars, they have only ten years to withdraw the whole account.

Eric Brotman [00:14:24]:
And that could push their tax bracket up. It’s funny because we used to think about heirs as being, you know, 30 or 40, But now you’ve got, because people are living longer, you’ve got heirs who are 60 and 70 years old. And inheriting an IRA from mom might accidentally cost you triple on your Medicare premiums because you’re already over that limit. Like, it really does create a problem for the next generation. So, you know, I see a lot of people using IRAs as big charitable funds. Where they’ve, they’ve been blessed to build enough wealth that they’re not leaving the IRAs behind. They’re leaving real estate behind. They’re leaving non qualified, money behind They’re leaving life insurance behind, but they’re not trying to leave IRAs behind.

Eric Brotman [00:15:04]:
Ross, of course, but not traditional IRAs because half of it’s going to the government anyway because of the the new rules. Are you seeing that too?

Jude Wilson [00:15:13]:
Yeah. You hit the nail on the head. Most people don’t see that as a danger because they just they’re not educated that that’s a possibility that could cause an issue for the next generation or their their their beneficiaries, whoever they may be. But I see it in in our practice because we try to do proactive financial planning and project, you know, where the puck is going, not just where the puck is. And and for a lot of people, who’ve done well, you’ve got this this retirement account, and you’re thinking, wow. I’m never going to use all of this money. My kids are gonna benefit. My grandkids are gonna benefit.

Jude Wilson [00:15:53]:
But the strategy should be, how are they gonna benefit in a way that’s most efficient and doesn’t cause them the highest tax burden? And and so you’re right. For some of our older clients, we’re doing conversions now on some Roth. And and we may not have the time to talk about this, but the theory that we call, bracket bumping, converting up to their marginal bracket and not causing them additional pain. And the other theory that we’re using is what you said also is seeing what is the net that you’re trying to accomplish. It may be better to spend down the IRA at mom’s bracket, but leave the the the real estate or other investments that’s not going to cause such a tax harm to the next generation. So you’re right. Bottom line is you you’ve gotta have someone with the fourth out to look ahead, and you have to have someone that understands the interplay between taxes and and net worth because a lot of financial advisers talk about investment diversification, but very rarely do financial advisors talk about tax diversification. And that’s just as important.

Eric Brotman [00:17:02]:
You are preaching to the choir. Tax diversification is something that does matter because we don’t know when a future administration or Congress is going to decide that capital gains are terrible and they want to punish them or gains are wonderful and they wanna give them a pass. And there’s so many different ways to do this, and it’s impossible to know exactly what’s coming. So knowing that you have a couple of different buckets to draw from, so you can take advantage of whatever the tax law is in 2033 and 2043 and 2053 because none of us really know. I also have to say, I never expected to get a hockey reference from somebody from Florida. They must have won a Stanley Cup or something down there because because, you know, hockey in Florida is just wrong. I apologize to everybody down there who witnessed it, but it’s just wrong.

Jude Wilson [00:17:44]:
There’s some Tampa fans that are are hot right now.

Eric Brotman [00:17:48]:
I know. I know. I don’t I don’t wanna talk about it. My team stinks. Alright. So so so let’s talk a little bit about money mindset because, so much there’s so much baggage around money. There’s so much shame and guilt, and, and so many, psychological and behavioral things around money. And yet, you know, money in and of itself, it’s been called the root of all evil.

Eric Brotman [00:18:10]:
Well, it’s only that if you use it that way. Right? So how do you help your your Henry clients, but also your retirees really think about what their money mindset needs to be?

Jude Wilson [00:18:23]:
Well, that’s such an appropriate question because the the winning strategy with money is having the right mindset. All of these things that we’ve talked about are helpful, but if you don’t have the right mindset, my dad used to say he’s a he, he’s a Caribbean guy, and he used to say in his thick Caribbean accent, I could leave you this house full of money, but if you don’t have the right mindset, you’ll lose it all. And it and I didn’t understand as a kid what he was saying. So when you look at money mindset, a lot of that comes from our childhood. I’ll give you a quick story. One of my wealthiest clients, multimillion dollar client, we had been doing some projections for their retirement, this couple, and

Eric Brotman [00:19:05]:
showing up

Jude Wilson [00:19:05]:
for years. They’re gonna be fine. They could actually retire today if they wanted to. And in one of the last meetings before they both decide to call it quits, the one spouse, said to me or the other spouse looked at the ceiling and and shook, his head. I just wanna make sure I don’t ever have to live on cat food. And I had to pause for a second and not react. But in my mind, I was like, do you see this kind of money you have here? And you’re not you’re not one of these Hollywood people that just blow money. You live a very conservative lifestyle.

Jude Wilson [00:19:40]:
You would really have to screw things up to have to go on cat food. And so it’s it’s part of the wounds that we are dealing with as a child. Yeah. But you gotta have the

Eric Brotman [00:19:52]:
right mindset. You you you we’ve we’ve seen these cases where where folks squirrel away every last dollar and never take the vacation and never really live and have an incredible fear of running out of money. There’s an there are people who fear running out of money more than they fear running out of oxygen. And it’s, it’s an amazing thing. Now, I don’t know what it feels like to be 75 and fully retired and not have the ability necessarily to go make more. You know, when, when you’re in your career, particularly when you get into your forties and fifties and you’re in your higher earning years, there tends to be a feeling that, well, I can get a Mulligan if I, if I, if I make a mistake, I’ve got plenty of time left on my side. I also can go make more. I could work harder.

Eric Brotman [00:20:34]:
And so I’m not sure why necessarily that the abundance mentality that we try to preach while we’re working becomes a scarcity mentality so easily when we’re retired, except for just that there is, there’s no longer something being poured into the bucket. That’s visual. Now, if you’ve built a nice nest egg, you know, as well as I do, it’s generating returns, it’s generating interest or dividends or, or some kind of income payment that is the same as a paycheck. Sometimes from a tax perspective, it is a paycheck for, for all intents and purposes, but, but you don’t see it as much because every other Friday comes and there’s no check-in the mail. Right? Yeah. How, how do we help people understand that financial independence is number one? It is a goal, whether you’re 27 or 77 when it happens, but it also requires so long as you have the right mindset and you have the right behavior and you have the right discipline, it it can truly be eternal. Yes?

Jude Wilson [00:21:33]:
Absolutely. I think the younger generation, Gen X and and and younger have a different mindset than their parents and and grandparents. Their parents and grandparents said to themselves, you know, I’m gonna reach a certain age, 60, 60 five, 70, and I’m gonna retire. This younger generation, and particularly Henrys, are saying to themselves, I I don’t wanna necessarily wait till 65. I want financial freedom so I can make the choice whether I continue to work or whether I work less but work on what I’m passionate about. So money’s not really the object. It’s what I love to do. And so what I try to tell people is that we have to create a plan that that as, one of my mentors, Tom Hegna says, we have to create a plan that creates paychecks and playchecks.

Jude Wilson [00:22:21]:
So that, at worst case scenario, you know, you can pay the bills. And then, if we do really well, which I, which I imagine we will with our planning, that you have playchecks, then you can do what you want, when you want, and how you want.

Eric Brotman [00:22:36]:
I’ve never heard the word play checks before, but I am gonna steal that from you. I also appreciate what you just did, which was give a, give a commercial to the show because at the end of the day, I I don’t think retirement’s good for you. I I think retirement in the traditional sense when you were 65 and you might only live to 72 is one thing. But the idea of retiring at 55 and living to 107 is actually terrifying. It it seems to me that that the absence of needing to work is so much more important than the absence of working because we all wanna keep our brain sharp and our networks and our, and our adult communication. And if you don’t use it, you do lose it a little bit. So this idea of reaching financial independence younger, you know, and of course the fire movement is talking about being financially independent when you’re 26 and, and some of them manage, but I, I think a lot of them are eating cat food actually, between you and me, but it, and not, not that there’s anything wrong with that, whatever. Bon appetit.

Eric Brotman [00:23:30]:
But it, it, it, it does seem to me like there’s a, there’s a disconnect between this desire to not work, but also a desire to make money. And if you can find ways to make money work for you or to make things other than your labor work for you, isn’t that sort of the the American dream in a nutshell on some level?

Jude Wilson [00:23:51]:
Absolutely. And and, you know, I talk about people like yourself, Eric, that that really are educating people on a different way to look at things. Because if you just read the traditional, you know, periodical on finances, they’re gonna tell you what we’ve always heard, you know, stock as much money away in your four zero one k. You’re gonna live on 80% of your, income when you retire. All these things. And those things, I don’t think are realistic for most people that you and I are trying to help. Most people want that financial freedom. So I I I try to say to people, look, what we have to do is build that plan ahead of time to give you the freedom that you want.

Jude Wilson [00:24:31]:
My mentor told me once, when I was a young man, I traded my time for money. And as an older gentleman, I trade my money to buy back my time and freedom. And so when I talk to clients, I’m asking them not only about the finances, but I’m asking them, what is it that you wanna accomplish in life? And how can we back into the numbers that will allow you to do that?

Eric Brotman [00:24:55]:
I I love that, that idea that you’re trading time for money early on and you’re trading money for time later. Unfortunately I’ve also heard it said that a lot of times we trade our health for money when we’re young people. Yes. And you can’t trade your money back for health. And so, you know, to me, part of being a successful retiree is, is being able to, to enjoy it because what’s the purpose of building some giant nest egg and then, and then lingering. It’s important, I think, to, to make sure that you do have that purpose, that passion, that interest that, and it’s more than a hobby and it’s definitely more than a bucket list. I mean, I, I can’t stand the bucket list idea because you, you check off those five boxes and, and what what’s next dirt nap. I don’t want that.

Eric Brotman [00:25:38]:
I wanna make sure there’s constantly something to, to look forward to. So while we’re talking about buckets, You know, one of the, one of the retirement income strategies that’s, that’s popular is this bucket strategy, this idea that, that you can either time constraint or asset constraint, some retirement. And you talked about the, the buckets for, for brackets in terms of, you know, not increasing your marginal tax bracket, but talk a little bit about buckets and the way that they can be used to allow your portfolio to to have some different components to it.

Jude Wilson [00:26:12]:
Yeah. I I think this is probably one of the most important things that I teach with my clients besides taxes. I think taxes is probably second. The traditional way of saving and spending money in retirement is you have one big bucket of money, whether all of your accounts, you just consider all of that one bucket, whether it’s a four zero one k, IRA, nonqualified accounts, you consider that one bucket. And then when you get to retirement, most of us are taught, you can take what what in the industry is called the safe distribution amount. Basically, a pinch off of that big bucket of money. And if you make more than that, what you’re pinching off, 3%, two %, four %, you’ll never have to worry about income again. But what we know as professionals is that it’s not that simple.

Jude Wilson [00:26:57]:
The market goes up and the market goes down. And if you’re taking a pinch out of your money, a percentage out of your money while the market is down, you have a high probability of running out of money before you run out of life. And so strategizing by having different buckets of money, and those buckets of money have a purpose, a time frame that’s associated with that, and a particular goal to reach as far as a rate of return gives people so many options. And I’ll just tell you, for example, the next time we have a 02/2008, the next time we have a 2020, I want my clients to be able to to to say to themselves, look at my buckets. I’ve got a bucket here that’s not affected by a 40% downturn in the market, and I can continue to live the life that I’m accustomed to while my other buckets are growing back and taking advantage of this, Go going back to use our reference again, the sale of the market. You know? So Yeah. That’s kind of the strategy of diversifying your money into these different buckets.

Eric Brotman [00:28:00]:
There’s a lot of wisdom there. And and and I I love the way you you illustrated it so perfectly. You know, we’re trying to help clients as you know, live the lifestyle to which they’re accustomed. I don’t, this whole idea of you only need 70% or 80% of your pre retirement income to live is, is it it’s planning to fail. Ultimately, who wants to stop working so they could take a paycheck so they can no longer go out to eat? Like, I don’t know why anyone would sign up for that unless their health didn’t allow for it or, or what have you. I mean, certainly life happens, but if given the choice, why would you sign up for something less than a % of your current lifestyle, unless your lifestyle is truly lavish and you’re prepared to give some of it up. And there, there are people who, who say, look, I’m, I’m going to play real hard now and I’ll play less later. And I who am I to say they’re doing it wrong because there may not be a later.

Eric Brotman [00:28:51]:
But let’s let’s we we’ve we are almost out of time. And like like I said at the beginning of the show, I was glad to have a superhero on, and you’ve been as advertised, my friend. How can folks learn more about you and check out your content and your and your podcast?

Jude Wilson [00:29:07]:
Oh, thank you so much. This has been a a a pleasure, and I’ve had a lot of fun. I I hope to maybe have you on my podcast one day and we could chop it up again. One of the what I’d be honored. Many areas where people could, thank you, my friend. One of the areas where people can reach me is on our website, Centrisfs,FrankSam,uh,.com. We’ve got a lot of information on there. But the other area that we we like to point people to is the taxbomb.com, and it talks all about a lot of the things we discussed today.

Jude Wilson [00:29:39]:
What is the potential of having to pay higher taxes in the future? And I’m on all the other socials, like LinkedIn is where I do a lot of posting, and YouTube, I’m on there too under the sensors brand.

Eric Brotman [00:29:51]:
Very good. So I I can’t let you, off the hot seat until I ask you, the the most important question of the day, my friend, which is, what would you what would you like to be when you grow up?

Jude Wilson [00:30:05]:
Well, you said something that really made me think. It it it you said about health and and you and I are kindred spirits. I I wish all my clients on their birthday the same wish. I say, I wish you health, wealth, and happiness, because all three of those components make up for a good life. And I had to learn the hard way how important health was. I was a really go getter for most of my career in trying to build this this wonderful company God has blessed me with, but I had a seizure, just out of the blue. Never had a a seizure before. No one in my family had ever had a seizure.

Jude Wilson [00:30:40]:
Broke my back in three places. Had to learn how to walk, talk, the whole nine yards all over again. Wow. And that really made me understand that health is just as important as building wealth. So where I like to be when I grow up is a person that influences people to take care of their health, take care of their wealth, and to look toward happiness and build those three components to have a really great life.

Eric Brotman [00:31:09]:
My money’s on you, sir. I believe that’s exactly what you’re gonna do when you grow up. And I can’t thank you enough for spending time with us today. This has been excellent. We will put your contact information in the show notes so that folks can check out your content and get in touch with you if they’d like to talk. Jude, thanks for this. And and I would be honored anytime to be a guest on the Roth guy. I am also a superhero.

Eric Brotman [00:31:28]:
I look a little like mister incredible, and I’m prepared to share that with your audience as well. Thanks for

Jude Wilson [00:31:34]:
being brothers from another mother. Thank you, my friend.

Eric Brotman [00:31:37]:
Indeed. Indeed. And I’d love to thank all of you for listening and watching today. If you enjoy our show, please subscribe, leave a rating on your favorite podcast platform and share it with your friends and family so they can join you on your journey to financial freedom. If you’d like to send us a topic or idea, which we may discuss in a future episode of don’t retire, graduate, please post it on our Facebook page or tweet us at Brotman planning. We’ll be back next week with another entry in our diary of a financial advisor. And in two weeks with another engaging guest For now, this is your host, Eric Brotman, reminding you don’t retire, graduate.

Unnamed Voiceover [00:32:14]:
Securities offered through Kestra investment services, LLC, Kestra IS, member FINRA SIPC, investment advisory services offered through Kestra advisory services LLC, Kestra AS, an affiliate of Kestra IS. Kestra IS or Kestra AS are not affiliated with Brotman Financial or any other entity discussed.