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Be Happy Now: Live Like You're Already Retired!

Be Happy Now: Live Like You're Already Retired!

April 15, 2021

The following is the text transcript from Dad Cents Season 2 Episode 7. It has not been edited. Enjoy!

Announcer 0:02
Welcome to dad cents a podcast for folks looking to grow their financial future. This podcast is hosted by Jason Fuchs, a dad, a husband and managing director of sage path financial advisors. Jason's goal is to help you grow your financial future, the right way. Now, your host, Jason Fuchs.

Jason Fuchs 0:25
Greetings everyone. If you're new here, I'm Jason Fuchs, married to Amber's father to a two and a half year old girl jewel who is absolute magic. I'm also the managing director of sage path financial advisors and at Sage path. We're here to help you grow your financial future, the right way. Ladies and gentlemen, welcome to the show. Thank you so much for being here today. Joining me is successful entrepreneur and friend, Charlie van Durban. And I couldn't be more excited. Welcome to the show, Charlie.

Charlie Van Dervan 0:57
Jason, thank you so much, man. And I appreciate the invite. I am absolutely honored to be a part of dad cents. Thanks, man. Oh, it's

Jason Fuchs 1:03
my pleasure. And thank you so much for being here. We're gonna introduce Charlie in just a moment, ladies and gentlemen. But what I'm wondering is, what is the lifestyle you envision in retirement? Take a moment and think about it. We're recording on a Wednesday. And I want you to imagine today is today, but you're retired. What would you be doing? Now, I can't speak for our listeners out there, Charlie. But I've got a huge grin on my face. Thinking about what I would be doing right now. If I were retired, what about you? I don't know

Charlie Van Dervan 1:40
how it would be all that different than what I'm doing right now. Anyway, Jason, that

Jason Fuchs 1:43
that is true. You are living the life right now. And we're gonna get there. I'm really excited to actually talk about that. Yeah, my room might look a lot like

Charlie Van Dervan 1:51
my professional life.

Jason Fuchs 1:55
Ladies and gentlemen, you're gonna enjoy hearing about his professional life, you understand what he means soon. So I'm wondering now that you've kind of thought about that retirement, you've pictured that retirement in your mind. Ladies and gentlemen, have you made a plan to get there? Today, we're going to address the ever so popular question, how much do I need to save for retirement? And I'm also wondering, ladies and gentlemen, have you ever heard the terms asset allocation and diversification? They are very different concepts that every investor should understand. And those are the two financial topics we'll be covering today with our guest, Charlie. And remember, I'm answering a financial related question on each episode. And how do you get those questions to me? Well, ladies and gentlemen, I'm so glad Yes. The best way to do that is through email j Fuchs at Sage path FA Comm. You can also call me at 904-366-9388. All of that info can be found in the description of the podcast. I'd like to take a moment now and introduce our guests. Charlie is a 20 year veteran of digital marketing. That's right. 20 years, can you believe the words digital marketing and 20 years go hand in hand, Charlie, he's worked with some of the world's largest brands to help define digital strategy. He started a company social advisors about seven and a half eight years ago and presently offers premier social media coaching and management to small businesses. But there is so much more to Charlie than the successful or excuse me the success of building and running a thriving company. Charlie actually volunteers as a mentor in three classrooms at an elementary school in Daytona Beach working with kids, it just gives Charlie so much personal satisfaction. He's volunteered for the Surfrider Foundation, taking their website and social media game to the next level. He's been a youth soccer coach for YMCA, receiving so much joy from watching kids learn new activity, meet new friends, have fun, and just feel good about themselves. Charlie, he's a performance coach with another organization and Advisory Council Member for a firm in New York. I mean, what is it Charlie can't do. You can find more information about Charlie and social advisors at WWW dot social dash advisors. com that's www dot social dash Charlie, thanks for being here, brother.

Charlie Van Dervan 4:31
Wow, you make me sound impressive, man. I appreciate that. Jason,

Jason Fuchs 4:34
I gotta tell you, you look good on paper, man.

Charlie Van Dervan 4:39
Yeah, I'll tell you of all the things that you mentioned. I think probably the mentorship is the most fun and one of the things I missed the most right with, with COVID stuff going on. Just having some influence on young people's lives. Yeah, yeah, it's tough. Yeah, yeah, dude. So we'll, we'll get back to that soon. But it's, it's it's been a year off of that stuff. At this Point.

Jason Fuchs 5:00
Yeah, I'm actually doing a seminar tonight for 18. And under, there's a program through our church that works with young children in high school who are having families of their own and really need some help and direction to get back on their feet. So tonight, we're talking kind of basic financial topics, but I'm going to be up there with a mask the entire time in this really large room. And I'm happy to do it is it's going to be a little strange wearing a mask this time never done that. Yeah, no question, man,

Charlie Van Dervan 5:31
I are volunteering I had done I was pretty involved in our business community and my local, you know, my local area. But that transformed a couple of years ago into working in the school systems.

Jason Fuchs 5:43
Oh, wow. Okay.

Charlie Van Dervan 5:45
Yeah. And Jason, I'll tell you, it was almost selfish, the reason it happened, but it turned out to be such a great thing. So, you know, for security purposes, my kids at that time, my kids are 11 and 13. Now, at that time, they were still in elementary school. And they were in kindergarten, first grade, the parents had a lot of access to the school. And you know, I think, you know, first grade, the the fences went up, then the big gates went up, and, and they were limiting parents, you know, in the name of safety? Yeah, I'd say it that way, very purposefully in the name of safety, safety, they were limiting parents involvement on campus more and more. And so I kind of went, you know, I kind of had an attitude about it, Jason was kind of like, Well, you know, you won't see me at all are, the alternative is I'm going to be so involved in my case. And so I'm happy I went with that, you know, that that later,

Jason Fuchs 6:36
I love that alternative.

Charlie Van Dervan 6:40
You want to make it tough on me watch this. And so I you know, I became a mentor in our, in our county school system and started working with some young, you know, some young kids, because of the age of my kids at the time. That's neat.

Jason Fuchs 6:53
I like that.

Charlie Van Dervan 6:55
We're K through five campus. And now there'll be, there'll be going into I got one, one more, one more year in middle school, and then there'll be in high school. And, you know, I'm looking forward to actually, I loved working with the young kids. I want to bring some of my entrepreneurial spirit to high school kids, right, and to help take my 20 plus years of experience and and inject that into young people with a lot of, you know, a lot of passion for their dreams.

Jason Fuchs 7:21
That's absolutely fantastic. I love that. But you're not even on the East Coast right now. I mean, you and your family, you've taken this work from home thing to another. I want all our listeners out there to know, you know, you're traveling virtual office, I guess, tell us about what's going on right now.

Charlie Van Dervan 7:40
And this, honestly, you know, so we got a you know, we got a team of about 12 people. We had, we had an office in downtown Daytona Beach, Florida, not too far from you. Yeah. And with COVID I think our last day in the office was March 13. Last year. And so our lease expired end of May. And we just let the office go. You know, I pulled everybody beforehand and said hey, how's everything going? Good

Jason Fuchs 8:03

Charlie Van Dervan 8:04
You know, they were all in I'll tell you from from an overview perspective, they're all more productive, right? Everybody's everybody's more productive working from their home environment. You know, two or three months into working from the working from the home off bus. My wife had kind of been talking about a travel trailer anyway. So we said what the hell let's get a travel trailer and we we put our kids in virtual school bought a 32 foot travel trailer hooked it up to our Toyota Tundra and hit the road. Just like that. Just like that, man. They're planning that went into it.

Jason Fuchs 8:39
Just hearing that gives me anxiety.

Charlie Van Dervan 8:45
But, yeah, so we left in August, and

Jason Fuchs 8:48
right before

Charlie Van Dervan 8:49
we hit the road, some family friends had a tragedy. They had a house fire, no one lost their life. So they got out safe, but you know, just kind of they rolled, same school zone but a mile from their house. They rolled right into our place. So someone's been covering our mortgage. Wow. Yeah.

Jason Fuchs 9:05

Charlie Van Dervan 9:07
We're moving out, I guess, may 31. And we're moving back into our house June 1. So Wow, I'm talking to you right now from Phoenix, Arizona. We got about you know, two more months on the road and then we're back in our place in Florida. My grandmother's

Jason Fuchs 9:19
in Tucson, so give her a wave for me while you're out there. Now she's probably listen Hey, gramps, Spry listening right now.

Charlie Van Dervan 9:26
Jason the contents of that trailer though, I gotta tell you, me my wife, two kids, two dogs, two ferrets and a Lizard.

Jason Fuchs 9:37
Lizard that's just over the top for me

Charlie Van Dervan 9:39
in retirement, I hope there's less people in the trailer.

Jason Fuchs 9:42
Kitty, Amber and I when you told me the story way back in August, Amber and I we talked about making a serious trip, you know, out west, grabbing an RV and just taking everything just leaving there. Our problem is we have three dogs. So at the time a one year old one and a half year old and three dogs just I almost broke out in hives just thinking about getting mad. You're an inspiration to us all.

Charlie Van Dervan 10:12
That's wonderful. Thank you. Thank you for those kind words.

Jason Fuchs 10:15
It's my pleasure. So how long have you and Carmen been married?

Charlie Van Dervan 10:20
Oh, gosh. 2007. So it will be 14 years this summer.

Jason Fuchs 10:24
Wow. Congratulations.

Charlie Van Dervan 10:26
Thank you. And she'll be proud to know that I know that date is June 21.

Jason Fuchs 10:30
That's fantastic. So what what what kind of moments I guess what are your your maybe maybe a top moment that you so shared so far with the family being on this this trip years?

Charlie Van Dervan 10:41
Yeah. Well, I'll tell you what I keep going back to and this was a I did this twice. Once with Carmen. And then and then once with the kids. Okay. Yeah. So we were camped outside of DC. And, you know, with with COVID, although all the museums are closed and stuff, I don't know if they still are, but back when we were in DC they were and and so the mall was pretty quiet. This was before all the events of January and stuff there. So yeah, big, big infrastructure, security and stuff that we have right now. But, you know, we just, I had such a good time. Renting scooters with my kids. in DC, of course, they weren't 18 those are fun. Amber's and I've done that. When we lived up there. Yeah, so we rented scooters and because it was just kind of mellow. With the museums, clothes and stuff. we raced up and down the mall all day and, you know, when they checked out, checked out all the memorials and they they're getting a great education. You know, right before that. We spent some time in Gettysburg camped on the battlefield, you know, so there that's neat.

Jason Fuchs 11:46
I like that. A lot

Charlie Van Dervan 11:48
of history. I have a degree in history. So I kind of was like, yeah, this is what

Jason Fuchs 11:53
is there anything you're missing from? I'll just say back here at home.

Charlie Van Dervan 11:58
I missed the ocean. Jason Oh my god. I

Jason Fuchs 12:02
don't know what I do without the beats now that we're in

Charlie Van Dervan 12:06
and wearing like you are we're in close proximity to the beach and I love to paddleboard and you know, paddle surf and surf. And so I got two paddle boards on the top of the truck as we travel around the country. I love it. I did Jason I served Lake Michigan. Did

Jason Fuchs 12:22
you know you can surf late like Michigan, Sheboygan, Wisconsin?

Charlie Van Dervan 12:30
For those surfers that are listening, brutal, I mean, like a five four wetsuits, so you're basically rapid rate. Yeah, radial tire.

Jason Fuchs 12:39
Reminds me of that scene from a Christmas story.

Charlie Van Dervan 12:44
Righty Jenna, pal. Wow. Water was like 47 degrees. Oh my gosh, that is insane. hardest part the waves are clean. hardest part was there three to four second intervals.

Jason Fuchs 12:56
Oh, really? Oh, wow.

Charlie Van Dervan 12:58
And it was overhead waves on Lake Michigan. Dude, it was a it was it was brutal. It was laugh. Lots of respect for Great Lakes surfers.

Jason Fuchs 13:06
So why don't you tell us about your journey to the start of your company social advisors.

Charlie Van Dervan 13:12
I found a little technology company in Duluth Minnesota was 1998 I guess. And yeah, company was called 50 below so any anybody who's maybe Morgan legacy Morgan Stanley or Smith Barney before their merger are Ameriprise or RBC. Yeah. Right? So we did data driven templated websites for advisors and we worked with big warehouses.

Jason Fuchs 13:37
data driven. I like that.

Charlie Van Dervan 13:39
Yeah. So they'd send us a feed of their advisors every 24 hours. And if you're on that feed, you got a website if you weren't. So it was it was rudimentary stuff. Like I look back on it now, but at the time, it was cutting edge. So Oh, I was with them for like 10 or 11 years long. Wow. Yeah. Yeah. Ran, they were in five different verticals. And financial is just one of them. The others are retail.

Jason Fuchs 14:04
And that's a lifetime. People. 10 years. Yeah. Yeah.

Charlie Van Dervan 14:07
Now we'll spend, you know, I won't spend a whole lot of time on on you know, where that company went, but eventually was bought by a company called Emerald Connect, which then was became part of broadridge. Prior to all that stuff, they had some issues. 50 below had a couple issues. And so the writing was on the wall that you know, that they were going to have to sell off some of their assets. I got out of the way before that happened. I went for a couple of years with a very recognizable brand or industry now. FMG suite. Okay. And so, you know, yeah, you know, I mean, yeah, certainly, you know, they probably got 50 60,000 advisor, clients, whatever it is. So, yeah, so big name in the industry. And FMG had a was the front edge of something right. So FMG you know, templated websites templated content,

Jason Fuchs 14:57
they're building something big back then. A lot of people wanted that. Yeah,

Charlie Van Dervan 15:01
yeah. And still do you know? But at the time, it was like you almost check the box right at the time. Oh, I got social media check the box. Yeah, I gotta say check the box, I got email marketing, check the box. And I saw that I was with him for I guess maybe two years and and I saw that and it was a build at one cell that many times kind of kind of model, which is great for the people building and selling in.

Jason Fuchs 15:25

Charlie Van Dervan 15:26
But you know, now it's 60,000 clients, you know, you got a website that looks like the next guy's website and the content, you push on social looks like the next guy's content. And so I started social advisors in 2013 really is the antithesis to that building one. Wow. So we took the leap in 2013, October of 2013. cleaned out the master bedroom, moved, we were in a three bedroom house, cleaned out the master. So now we're in a two bedroom house with a really big office, okay. And we've you know, had a conference table moved in the master and I went to work one day man opened my laptop and called everybody I knew. And at the time it was we do social media for financial advisors, not necessarily knowing what that meant. But we started doing a lot of content. And here we are almost eight years later. And that's evolved greatly in to, you know, helping with automation stuff, leveraging LinkedIn to, to a large degree CRM, content marketing, really just kind of an overall digital offering. That is absolutely 100% customized for our advisor client, instead of being the one size fits all. Yeah, no, cookie cutter is

Jason Fuchs 16:37

Charlie Van Dervan 16:38
Yeah. Yeah. Yeah, everything's very personalized. You know, we pride ourselves on white glove service.

Jason Fuchs 16:46
And I think that's important nowadays. Because I mean, if you want to stand out from the crowd, and you want people to know how you're truly different, you need to create content, you need a website that expresses that. So So talk to us about maybe one or two, maybe even three things that you're able to do for business owners, advisors out there via social media, that you maybe maybe some another company out there is not able to do.

Charlie Van Dervan 17:14
Yeah, so I'll tell you apart. Yeah, I think the first thing that sets us apart is our business structure. Okay. Yeah, you know, our business model I've been, I've been involved in several development projects over the years. And what I can tell you about in some of them are good. And some of them you know, are flat now Not good, not really all that good at all. When you build a piece of software, you being you know, just just the general you write, and they've got 100,000, or half a million or a million dollars invested in a piece of software, you got to sell it, whether that's good for you or not good for you. They've got people that they're responsible to, even if it's their own pocket book, how to sell that software. So, you know, we've had some successes, we've had some, you know, some some software launches that are flat. There is so much software being created every single day. Yeah, no kidding. For me to think I'm going to go out there and create a better piece of software, I think, is foolish. And if I fail at building that better piece of software, I'm still stuck with that software. Still got to get it out there. Yeah, very strategically, we don't develop software anymore. Right? We have we are away from that. We got it, we got some software that we licensed and we you know, we licensed software to take advantage of trends. So we talked about LinkedIn being, you know, for any b2b sales. Number one by a large margin large Yeah, the the best opportunity for filling a sales funnel, right. So we went out with seeing that seeing that trend, we went out licensed software to run LinkedIn strategies. We're not tied to that software. You know, I'm not I'm we're we prepay for it. But we prepay for it on a monthly or a quarterly basis. All the more that we're tied to that software. So the moment LinkedIn is no longer the best top of funnel strategy available to b2b professionals. We can pivot you pivot. Yeah. No, we're not stuck on that. Right. So yeah, that's a big differentiator, like you were a fiduciary to our clients. It's very important to us. You know, the moment that LinkedIn is not the best for the clients we serve, will pivot. And, and so it makes us very nimble. That's a big differentiator. And that allows us to do a lot of things that people who are basing their sales on their own software or not a lot, you know, really don't, don't have the freedom to do.

Jason Fuchs 19:39
Yeah, like that. That's neat.

Charlie Van Dervan 19:42
We were I'll tell you, Jason, we got on that LinkedIn train probably four years ago. And while it's still a really important piece of what we do, it is not the end all be all. So we've, you know, in that spirit of being able to pivot, we've gone from running LinkedIn strategies to LinkedIn being a part of a much larger strategy, where we're really pivoting to, you know, we we set up automation for advisors at this point, whether that's business development or internal business processes. And so we leverage a great CRM platform called sharpspring. You know, it's

Unknown Speaker 20:19
very awesome.

Charlie Van Dervan 20:22
It's really, it's really a great platform, it's company out of Gainesville, they're, they're growing like crazy. They, what I like is they've got a model where they don't sell Consumer Direct, they only sell through agencies. And it is designed to not just start that conversation on LinkedIn, as we've been doing, you know, pretty successfully for four or five years here, is designed to automate a lot of internal business processes, which is important.

Jason Fuchs 20:50
Yeah, little things that that necessarily don't necessarily need human hands to do. Right. Exactly. And,

Charlie Van Dervan 20:57
you know, certainly I think a lot of people are still pushing pencils. You know, we got a lot, a lot, a lot of this industry has not evolved. But, you know, so sharpspring becomes kind of the center of everything that we do, where it's automating your processes, but it's also you know, it's automating business development, it's identifying your hot prospects are so early in your career, Jason, you don't have a lot of money. Right, when you don't have a lot of money, you got to invest time. Oh, yeah. Later in your career, as you're building more revenue and more money, you no longer have to invest time. Now you invest that money, right? Because obviously the most, most important and most, you know, the most, the most important commodity you have is time

Jason Fuchs 21:45
time, especially for someone like you the family who mean,

Charlie Van Dervan 21:49
yeah, you too, right. Amber jeweler bodies,

Jason Fuchs 21:51
they subtract more and more. Your day, in a good way. Absolutely. But so speaking of family, you and your wife, we're working on something, you and Carmen, we're working on a financial thing. We'll call it we don't need to get into the detail. But you and I were talking about it. And that led to a financial question that you had for me regarding asset allocation, diversification. And I thought that would be really great for today's show. Yeah, great

Charlie Van Dervan 22:21

Jason Fuchs 22:21
Let's get into it now.

I think there are others out there that probably have the same question are going through the same thing. So give us kind of a brief rundown of what we were talking about.

Charlie Van Dervan 22:36
Yeah, you know, so we we make our investments, right. You know, my kids have a five to nine plan that's funded every month. Good. Like every week, I guess. Yeah. You know, we've got a we've got our retirement accounts that we fund. But you and I were talking about, we've been squirreling some money away for investment in property, right, trying to create some cash flow. Yep. Right. So the business, the business creates cash flow. My wife's a photographer COVID made things a little bit tough, because you can get together in person with people, but that creates cash flow. So we're looking at some investment, our house that we own is on a one a, you know, on the on the other across the street from the beach, it's a great rental. And so we're looking at actually investing in, in some property in Florida, right? Yep. To make our permanent, and then we would rent out the house. And yeah, so when we were, you know, we were chatting about, you know, just kind of put my ideas out there getting your take on them. You know, we definitely we want to create as many as many income streams as possible. Yep. Yep, cash flow is at the front of our minds, and maximizing that we're funding our kind of necessary accounts, and just squirreling away money to put a down payment on his property at some point. Yeah,

Jason Fuchs 23:57
yeah. So, and that's something that a lot of folks out there have questions about Charlie is kind of asset allocation, diversification. You hear professionals mentioning these two terms all the time, but I don't think a lot of people out there know the differences between the two. So that's kind of what I'm going to cover today. You know, asset allocation refers to dividing money among different asset classes, like stocks, bonds, cash alternatives. And in Charlie situation with his family, he's added another bucket, which would be property, you know, which is not a typical traditional investment solution. But like Charlie said, it does help provide income during retirement. And that's really what investing is all about. You're building up this this nest egg, like you said, Charlie, and the idea is when you get to retirement, you're taking money from that estate. So you're creating a flow and income flow. So even though home you know, properties, they're not Typically a part of traditional asset allocation, they can be. Now, the asset classes I mentioned stocks, bonds, cash alternatives, they have different risk profiles and potential returns, Charlie investing in property, it's the same thing, different risk profile and potential returns. The idea behind asset allocation is to offset any losses from one class with gains in another. And you're thereby reducing the overall risk in the portfolio. Now, compliance is listening. So remember, Charlie asset allocation, it's an approach to help manage investment risk, it does not guarantee protection from investment losses. So that's asset allocation. Charlie, follow me there.

Charlie Van Dervan 25:44
Gotcha. And I'm gonna tell you, Jason, your compliance officers is happy now. He's

Jason Fuchs 25:48
gonna love me again shortly. And you'll see why because we're going to talk about diversification. Okay? So Charlie, you've done a good job with your family, allocating your assets, you've got the college accounts, you've got your business accounts, you've got your retirement accounts. And you're, you're putting money into a cash account short term to have this, you know, downpayment for an investment property, that's going to give you income, so you're allocating your assets, I think you're doing a great job. diversification is different than asset allocation, diversification, it entails how your money is placed within an asset class. So for example, let's talk about a stock portfolio hypothetical. It includes a computer company, a software company, an internet services provider. Now, although the portfolio, it has three companies, it might not be considered well diversified. Because all of those firms are connected to the technology industry. It makes sense, Charlie? Absolutely. Now a hypothetical portfolio that includes a computer company, a drug company, an oil service firm, that might be viewed as more diversified. Now, compliance is out there. So again, like asset allocation, diversification is an investment principle designed to manage risk, but it does not guarantee protection from losses. I told you, those folks are gonna love me, Charlie. So the differences between asset allocation and diversification, they're subtle, but they're critical concepts to understand when building an investment portfolio. So Charlie, I think you're doing a great job picking your overall asset allocation, and then using that diversification to get more ground level. Does that make sense?

Charlie Van Dervan 27:38
Yeah, sure. Yeah, it does. Absolutely.

Jason Fuchs 27:41
So ladies and gentlemen, you know, if you'd like help with this, reach out to me, I encourage everyone to head to our website, www dot Sage path FA comm there's a calendar link at the top of the page, you can go on there, check my calendar, pick a day time that works for you and just schedule a complimentary Financial Review or, you know, just email us and and request that complimentary Financial Review. We'd be happy to help. So Charlie, what I'd like to do is I'd like to conclude today's episode with a bit of q&a. That sound good. Sounds good to you?

Unknown Speaker 28:14
Yeah, let's go for it.

Jason Fuchs 28:15
All right.

The information from today's question, I actually have included this content in February's monthly market newsletter that I send out now. I don't ever send anything spammy, Charlie, only valuable content. So ladies and gentlemen, if you're interested in receiving that newsletter, just email me call me I'd be happy to add you. If it gets too much. You want to be removed? Just click the link No worries. There's a question.

Charlie Van Dervan 28:48
Yeah, comment. Let me comment on your newsletter real quick. Industry and I've been on this industry for 23 years or so. Okay, with you know, lots and lots of advisors. Of course, I get lots and lots of newsletters.

Jason Fuchs 29:02
Write lots of newsletters. I'm sure

Charlie Van Dervan 29:04
that the newsletters and subscribe from several of them because a lot of them are you know, a lot of it's canned stuff. Compliance likes canned stuff, because it's easy for advisors don't like canned stuff. Because it's not differentiator. Yep. Your newsletter has a ton of value. Thank you. So yeah, the the the care, the care and time you put into it is obvious.

Jason Fuchs 29:24
Thank you. I appreciate that.

Charlie Van Dervan 29:26
And, um, you know, not sincerely here, right versus versus a lot of the canned stuff that I get that looks just like everybody else. Well, I

Jason Fuchs 29:32
appreciate that. Thank you. I'm glad you enjoy it.

Charlie Van Dervan 29:35
You got it.

Jason Fuchs 29:37
So Joe, is what we're calling this gentleman Charlie protect his identity. Joe asks, he sent me an email and there were some additional questions, but I think the most important question I got from the email was how much do I need for retirement? The infamous question. Yeah, right. What's

Charlie Van Dervan 29:54
your number?

Jason Fuchs 29:55
what's exactly what's your number? And Joe, you know, great question. And I think it depends on many variables, how old you are. Now, how much if any, you've been saving in retirement, you know how much is in your accounts? How much do you make per year? How comfortable Do you want to be when you retire? There are many retirement calculators out there and those calculators, they can give you a better idea of your personal situation. And, Charlie, I have something that similar that I use with my clients. And because there's so many variables out there, because there's, there's so much noise out there, Joe. That's why it's so important to sit down with a financial advisor. There are just too many variables out there to give you a definitive answer. But I want to leave you with something. So as a general rule, I find that it's helpful to always save 20% of your income. Keep going after those raises those promotions whenever you can. I know that's self explanatory. But if you get a pay raise, make sure that your savings or retirement savings also gets a pay raise. All of that is going to add up. I hope that helps Joe, ladies and gentlemen, keep the questions coming. I love what I'm hearing, if I don't cover on today's show, or excuse me, if I don't cover it on the podcast, what I'll do is I'll just answer it personally via email. If you want to expand on that, that email, we can certainly set up a time to chat, but the point is, keep the questions come in, they're gonna get answered. So what I'd like to do is close out today's episode, and I know there are not a lot of you out there ready to use Sage path as a resource. And that's not a problem. Send me your email. And what we'll do is we'll keep you updated with on topics we think you should know about. And you know, if there's ever a point, when you're ready to make that decision, you want that complimentary review. We'll be here for you. Now, Charlie, anything that that you'd like to add? And I'm not, I'm not fishing for anything here.

Charlie Van Dervan 32:01
No, well, that I you know, you don't have to fish because I get to do podcasts pretty often. Jason, I get, you know, I get just by virtue of, you know, having a little bit of a public persona and such I get invited to a few podcasts. This, I'll tell you, as much as any other and more than many. This is fun, because it's conversational. Oh, yeah. I love it. And I come to it. And I got a couple things. You know, you and I prep for this stuff, right? There's no we don't we don't have to pretend that there's no there's no prep for it. You've got you've got points you want to make based on questions I had, you know, we certainly have services to offer so we want to get that out there too. You know, but what I love about this is it actually feels like you and I are hanging out me having a beer and you haven't a diet coke maybe

Jason Fuchs 32:50
an alcoholic beer.

Charlie Van Dervan 32:53
Girl duels and we haven't maybe my Miller Lite being a kid from Wisconsin.

Jason Fuchs 32:56
Yeah. Be eight years this May May fifth. grab a drink. Yeah.

Charlie Van Dervan 33:01
That is that is. That's awesome. I

Jason Fuchs 33:03
can't believe it's been that long. But it's a nice ride anyway.

Charlie Van Dervan 33:08
Now like it's it feels like we're sitting in the living room together hanging out, you know what I mean? And, and I think that that when you got when you got a stuffy podcast that comes across, when you've got a nice chill environment that comes across too. So thank you for having that nice chill environment.

Jason Fuchs 33:24
It's my pleasure. I got to tell you, you bring that you reciprocate that because your attitude, the way you approach conversation is very engaging, very casual, very relaxed. So I always find it easy to have these conversations with you, Charlie.

Charlie Van Dervan 33:41
I find if I say dude, and man enough people think I'm a really chill guy.

Jason Fuchs 33:45
We got to I don't know if everybody's told you've got that. Just you should do books on tape of some sort. Maybe, man, maybe that's maybe that's my retirement.

Charlie, thanks so much for being here.

Jason man, my

Charlie Van Dervan 33:58
pleasure had a riot. And thanks for creating a forum for you know, for education. And for a little bit of promotion. We don't want to get too heavy on that. But you know, thank you for putting the work in to create a forum like this. And future guests. Yeah, great.

Jason Fuchs 34:13
Great. So one last time, what's the best way for people to find you contact you get in touch with social advisors? Yeah, so

Charlie Van Dervan 34:21
you said the website earlier social dash advisors calm we'll have a new website within the next week or so. So we're excited about that one up here. Yeah. You know, my numbers easy. I don't mind giving it Oh, just 3868465 to nine one. And if you google Charlie vendor, and you'll find them a very easy person to get in touch with so like you like with free consultations and stuff. And given that education, we do that we do. We do that all day long. Of course, it's the lifeline. A lot of those people are not there to become our clients. A lot of them are there to gain some knowledge.

Jason Fuchs 34:53
Yeah, and some people just want to see the value and that's all you're doing is showing them the value and if it's if it's what they need. been great. Let's work together. If not, no worries. I love it. Well, to all of our listeners out there, thank you so much for being here. I appreciate all of you. I hope to see you for another episode of dad cents make it a great day. Now, the disclosures, securities and investment advisory services offered through FSC securities Corporation, FSC member FINRA, SIPC. FSC, is separately owned and other entities and are marketing names, products or service referenced here are independent of FSC a C does not provide legal or tax advice. Although the information has been gathered from sources believed to be reliable and cannot be guaranteed and the accuracy of the information should be independently verified. As material was created to provide information on the subjects covered but should not be regarded as complete analysis of the subject. Please consult your financial professional for further information. Charlie social advisors, sage path and FSC are unaffiliated. This episode is sponsored by Dunham and Associates investment council Inc, sage path financial advisors located at 512 rosebud lane, Neptune Beach, Florida. 32266. information for this episode was obtained through FMG suite, LLC.

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