So that's one potential option that we've used some in the past.

Another option that I'm thinking of is and this is a really specific niche option but you know we're always exploring these options and the scope of this visit is a video is not for you to oh yeah let me get a checklist a comprehensive checklist of this is exact policy.

It's more of to give you the seeds and food for thought for you to be able to start thinking through the options that make sense for you.

But another one is where you add this sort of long-term death component to another insurance product, such as an annuity.

And annuities can look in a lot of different forms or fashion where you have this lump sum of cash outside of retirement accounts or that you've pulled from retirement accounts.

And you make a single payment into this policy.

And it might grow 1%, 2%, 3% a year on average annually.

Is there anything else besides insurance that you can do to help protect yourself? If you don't want to go down that path, if you're just looking for other options in terms of making sure that you are prepared for that expense should it come, is there anything else that you guys typically work with your clients to do?

Why should somebody consider opening up one of these right now?

A donor advised fund is something that's a really minimally used but often overlooked tool.

So think of it this way.

You're approaching the end of the year, kind of similar to the time that we're recording this video right now, and you have identified that you are going to come into a larger tax liability than you'd like.

Maybe you're a business owner.

Maybe you've had an unexpected windfall this year of selling a home or a business practice.

Maybe you just got a quarter end bonus and you're just thinking about, whoa, my income is at a place where I'm blessed to be in a position where I'd like to lower those taxes by putting some money away, doing something creative.

The SEP IRA, how many people are aware of that? And why should this be something that's on your list?

But for most people, this is a legitimate fear they have when they go into

retirement.

I think it's probably one of the biggest ones.

And Some folks would not say I'm afraid of running out of money, but a lot of times their behaviors exhibit that fear.

Here's what I mean.

Here's a good example.

Like, you know, instead of Jeff Foxworthy's, you might be a redneck.

So when you're working with someone that's really worried about is how can I afford health care down the road? What am I going to do to pay for health care down the road? How do you build that into a plan?

So what are you up to? So what is that question going to tell us?

Well, look, if it's 1045 on a Tuesday night and you want to talk about that, too, by all means, I'm sleeping at 10.

Well, I'm either sleeping or feeding my three month old baby at 1045.

But I love this question because the goal of these questions is to peel back the onion and recognize, first and foremost, retirement is not just I'm done working.

You know, if your mindset is I want to retire.

and you're exhausted from work, that's fine.

But understand you're not retiring from something alone.

Why are we asking this question, Jake? So knowing what you know now, what would you have done differently financially? So what are we trying to figure out with that question?

flexibility do you want to prepare for?

So you have to think about not only, you know, this element of does this save me taxes? That's a good question to ask, which is over my lifetime, will doing a Roth conversion save me taxes? Will this Roth conversion save my heirs taxes? But you also have to think about the fact that Roth conversions provide flexibility and kind of complete defense against additional taxes.

What do I mean by that? Well, let's say that in 10 years from now, taxes are higher than they are right now.

which if I were a betting man, I certainly wouldn't bet that over time taxes will be lower than they are.

Right.

Just not talking about your income or lifestyle, just let through legislative changes.

I mean, our country is in billions and billions of dollars in debt to the point where the debt exceeds our GDP.

That's

Correct?

Inevitably, everyone wants to know when to take Social Security.

And unfortunately, there's no magic solution.

Well, you know what? I take that back.

If you can guarantee me that you're going to live a really long time and your only goal is to get as much from Social Security as possible, then I do have a magic solution.

It is wait until 70 as long as possible.

But of course, that assumes you know when you're going to die.

Most folks have this sort of like...