SECURE 2.0 Starter 401(k): Federal Alternative to State Plans

[0:00] JD: Foreign, You are overestimating my desire for marketing and growth in my business. It's far down the list of things for me to do. Welcome everybody. Let's get right to it. Have you heard of this secure 2.0 thing? I'm sure many of you have not heard heard of this, but at the national association of Plan Advisors I believe that's where this article was. Hopefully I'm getting that right. Brandon. The title of the article is secure 2.0 needs starter 401k plan fix. Here we go again. We talked about this a few weeks ago. Inevitably there's going to be some stuff that's done wrong in this legislation and maybe needs a little tweaking. That's why you get the nerds over at Brian Graf's camp right to get together, huddle together and find out what things were missed in this legislation. This one's a little different because this seems like an obvious mistake. Like they just screwed up and I hadn't thought about this. The concept here people is that this cool little Starter K that they created had a individual retirement account limit of what is it these days? 6,000. Is that what it is? Yeah, it's 6,6000. And nowhere in the language does it talk about it being adjusted. And the start of 401k plan starts what next year? And so it has a 6000 limit which I think already 2023 has a higher individual retirement account limit. 2024 inevitably will have a higher one. And so now they're all worried. They're all up in a tizzy like oh we need to fix this. [1:42] Justin: They set it for six this year, it's 65 already and they're saying it's going to go beyond. [1:47] JD: So there you go. So oops, someone, they're scrambling to get this fixed, which is true. So that was kind of fun to see that. But I like that people work to fix it. I am such a dumb slow surfer that in reading this article something else dawned on me and I'd like to get you guys opinion. I'd never paid attention so much to this many advisors were coming to me going JD what's up with this starter 401k? Like it just looks like a glorified individual retirement account or you know, a simple or a SEP type of thing. I don't, I don't understand why all the, the hubbub about it. I finally read them talking about how this was going to work well with state run mandates or state run plans and that was there. And I'm sorry if Everyone out there is going dud. JD we already knew this, but what they're doing is saying, look, we're going to give employers an alternative to the state run plans that doesn't have the compliance work is low cost, etc. Etc. And I was like, okay, that starts to make a little more sense for me. Rick, I'm going to go straight to you. You're not, you're not just a podcaster, you're a financial advisor, a retirement plan advisor. I mean, secured 2.0 is a big deal. Have you stuck your nose into this starter stuff and what was your first thoughts about it or opinions about it? [3:10] Chad: No, I think you're right that the starter 401k is exactly meant to sort of be that federal parallel to the state run plan. Right? I mean we forget we're out here in California. So you know, it's California, it's Oregon, they've had state run plans for years, [3:26] Mark: west coast people, just FYI, representing here all the way. [3:31] Chad: So you know, we've been surrounded by these things for years. But you know, you talk about other employers around the country, not all states have these. And so I think from a, from a federal standpoint, this is the answer to that, to that state run movement that really started out here and is, you know, gradually spreading across the country. [3:50] JD: I should read from the actual article, but they even talk about how more states will follow suit and so they'd like to have a federal option, which is, I'm making up my own words here, but where you could independently choose a vendor. Right? So, so let's say Kansas starts one and they choose to work with record keeper X or what have you. This, this Starter K would be an alternative for you where you could choose from. Because I'm assuming what we're going to see in the starter case faces Voya is going to offer one, principal is going to offer one empower is going to offer like you're going to have all kinds of options. So then I started, it started to make sense to me, like, okay, these [4:29] Justin: guys got, I didn't even realize that, that this whole time I've been like, why are we doing the starter cave? We got, you know, access, we do payroll deducted, individual retirement account. [4:38] JD: Right. [4:39] Justin: That makes perfect. [4:40] JD: Yeah, there still is that narrative, but [4:43] Justin: I still like the ability for everyone to choose right. You get access to what you want to get access to. It's all under one roof. [4:49] JD: I still think what your thoughts are right though. Like it still seems awfully like simple to me and not A lot of advantages to it. I. I was complaining about it with one advisor, and she said to me, oh, but it's called a 401K. It's going to be. It's going to have a 5500 filing, and it's a real 401K. And so that's going to be enough to lower. Everyone's going to go gangbusters for this thing. It's going to be a. Finally, we've got a simple 401k that doesn't have a lot of testing and all of those. I don't know. Does that make sense? [5:24] Mark: I was going to say, does that [5:26] JD: make sense to your theory? [5:28] Chad: There's already a simple 401k. [5:29] Justin: Oh, there you go. [5:31] Chad: That's. [5:32] JD: I think that's a drinking one, because you were referring to. [5:34] Justin: That is a drinking one. [5:35] Chad: Oh, did I? Did I. I missed the rules. All right, my bad. [5:38] JD: Oh, we don't do that. Yeah, you learn as you go. You learn as you go. [5:42] Mark: Oh, no, I have to have. I have to drink. [5:44] JD: But Sherry did, you know, Just answer. [5:47] Mark: Justin has. [5:48] JD: We can move on. [5:49] Mark: Not me. [5:50] JD: Let's move on to something I think Sherry is going to be far more passionate about. Who knows, we might even get into a nice little huge hippie fight about this or something. Morning star. I'll drink for this pai. While I'm at it, I'll drink for the whole thing. Here we go. Morningstar P A I E S G. Focused. Pep. [6:10] Mark: Pep goes live. [6:11] JD: Live. One, two, three. [6:15] Mark: Oh, sorry. [6:17] JD: Along. Let's see here. What do I want to talk about here? Without going on a rant before I talk shit about this one, I want to remind myself and remind everyone out there listening in on something I forgot. People are listening to the show and not just people that are here live tonight. Justin knows what I'm talking about. [6:40] Mark: Seeing it. So good. You guys are ruining some of your sponsorship opportunities by pissing people off, huh? [6:47] JD: Jd, I talk some smack about Guideline last week. Well, the founder of Guideline reached out to me and told me that he had listened in. I'm not going to read what he wrote to me word for word because he's actually very nice, especially considering I drag them through the mud, like, constantly. And he just said, hey, a lot of stuff. Enjoyed the dialogue. A lot of the stuff you guys are talking about was about our firm was pretty accurate. Some of it was a bit of misinformation. And he just offered. [7:23] Mark: That was sweet. Yes. [7:25] JD: And he offered out a handle like, hey, let's get together, happy to talk about it over a beer with you guys, kind of explain more about what we're doing. And then he gave me a little wink wink at the end and reminded me that they are now up to 38,000 plans across the country, which I thought was a cool little cocky thing. So anyways, yes, J.D. please remember, people are fucking listening, but [7:47] Chad: I'm kind of a big deal. [7:49] JD: With that said, what the was Pie and Morningstar thinking when they decided to create a ESG pack? Does this seem like a good business model for you, Justin? [8:02] Justin: Now let Sherry go. [8:06] Mark: I can't, I can't speak to the pooled employer plan part of it, honestly. And I, I thought that perhaps maybe I should do some studying on this, but I'm just going to set that aside because I'm not. I don't, I don't get that place. But, but what I do get is on the environmental, social justice governance part of things, I thought and I would. Well, you thought I would. [8:31] JD: I assumed as much. [8:33] Mark: Here's what, here's, here's, here's the one thing I know is that millennials and Gen Z in some cases care where their money goes and if we can provide them an avenue for savings that acknowledges that desire and they end up saving, I think that's a good thing. [8:55] JD: They might be more passionate about the 401k, more inspired by it if the investment choices lined up with their. Some of their personal beliefs. And you think, think that people of those generations want environmental social governance types of funds in their plans and not necessarily want. I'm right, here I go poking the bear, right? Not necessarily want a list of the best funds based on some type of methodology or monitoring process. But no, I love your little smirk you're giving me there. [9:34] Mark: I, I do, I do. [9:37] JD: Coming to you next, Rick, so get ready. [9:39] Mark: I do think that making a wise selection of those environmental and social governance investment options would, would be good. And, and I actually want to acknowledge that, you know, there's somebody smarter at that than me with Mr. Yee, my friend. And, and nonetheless, an avenue, an, an avenue to get them savings is great. And, and, and on the other side of things, an avenue to shift where some of the money is pointed might also be a good thing. [10:17] JD: Yeah, well, very carefully chosen words, but we get you. We get you. [10:21] Mark: Yeah. Go take a shower. [10:27] JD: That's. Shut up, hippie. Go take a shower. Rick, You've. You deal with clients. This, this environment of social governance isn't a new thing. We've been kicking this can around for a while. Has it come up and how might you guide your clients through this decision if it does, or is that putting you too much on the spot? Give me your thoughts on. [10:50] Chad: You know, jd, you're going to love this answer. Was talking to a client, talking to a company last week and just merits of single employer plan, pooled employer plan and. Hold on. So if I went into a pooled employer plan, I wouldn't be able to choose my own investments? And what if I wanted to have ESG investments? I mean, I, I kid you not. This came up in a conversation last week. [11:14] Mark: So I, I think that there's like four right there. I counted four. [11:19] JD: What's a four? [11:20] Chad: I'll drink. I'll drink. What's. I'll drink after I, after I finish. But that's. I think there's in the, in the inventory of PEPs out there. I think. You know, JD, you and I probably differ on this a little bit, but I do think that there's going to be a big wave of plans moving into pooled employer plans. I think the hockey stick is going to start to move in the next couple of years. So I think what you're going to see. [11:44] Mark: I know. Really? I don't think so. [11:47] JD: Honestly, that's the probably the stupidest thing Rick Unser's ever said. Let's move on to it. [11:53] Mark: I was like. And I don't even know very much about it, but I'm just going to say it takes too much to try to sell them. You still have to sell them. [11:59] JD: Let me sell them. Give us. [12:01] Chad: Hold on. I will. I will say this timestamp, this episode will rewind it three years from now. I feel, I feel pretty confident. [12:08] JD: Trust me, buddy. [12:09] Mark: No, I am a magician. [12:11] JD: That's not going to happen. [12:12] Mark: I predict the future. So. No, I'm saying. [12:16] JD: And I've got. [12:17] Justin: That's a psych. [12:17] JD: I've got plenty of statements, timestamps for the pooled employer plan. I create the future to tell them I told you so a few years from now. I've been doing it over the last year, but look at this one. This one gets a little different. Go ahead, Justin. [12:31] Chad: How long until. [12:32] Mark: Good one. [12:32] Justin: Because those funds are typically higher cost. How long until something like that gets picked up by Schlichter or whatnot? Right. And then those participants learned they could have made a lot more money investing a different way. Is this a smart thing to be doing? [12:45] JD: Well, the way lawsuits are going these days, sure, Justin, that's well said. It could be the cost. It could also be a performance issue. Like they would zero in on that stuff. And Rick should know. Rick's buddies with Schlichter, they hang out all the time. [12:57] Chad: So, yeah, we go way back. I do think, I mean, on the Schlichter side of things, his big thing is rationale and processor, was that Schlichter [13:09] Mark: is a good name. I mean, Schlichter, it's just got a good ring to it. [13:13] JD: I love Sherry for color on the show. I wish I had her every week. [13:17] Justin: Let me kick me off if you want. [13:19] JD: Let me read you a quote and see how you feel about this answer. This is from the article and this is from. God dang it. From the provider. And this thing that we're talking about, I don't want to say it again because this Woodford Reserve is rough out of the bottle. We selected the pooled employer plan format for this offering as it levels the playing field for companies that do not have access or cannot afford to hire. You ready for this? Specialized advisors. So this very product by Morningstar is built to not have an advisor associated with it. How can anyone be in support of this? And what ha. Why hasn't Morningstar learned over the years that they need advisors for distribution? They cannot just build some fancy hippie pooled employer plan. No offense, Sherry, and. And think that people are just going to line up and buy it like it's the new iPhone. It needs to be distributed through advisors. And as far as I can tell from that quote, advisors have a big old knife right in this, right in their back. So does that offend you in any way? Look, Sherry's got all kinds of animations about that. I mean, that's jugular. [14:38] Mark: That was good to have that in jugular, by the way. Not anything else. [14:41] JD: You can't be happy about that, Rick. [14:45] Chad: You know, I. I don't know that it ruffles my feathers too much. I mean, I think there's. I think there's a space out there for advisors. I think there's. There's employers that recognize the need and have the need and are willing to seek out and pay for the advice and the support that they need. And I think there's others that don't. And I don't know that there's a problem that those two camps exist out there in the market. So, hey, you know, if you think you can do it without an advisor and you feel like there's a space and a demand and a business model for it, go for it. [15:14] JD: I mean, blasphemy, Blasphemy twice tonight, blasphemy from your mouth. One, there's going to be a hockey stick to an employer plan. Two, it's okay for people to create products that they want to create. Shame on you. Right, I get it, I get it. But I've just seen too many things in this industry. We'll move on. Where? I mean, even the Disruptors have figured [15:36] Mark: out, we'll move on to a subject he might agree with you on. [15:40] Chad: Even I thought it was your friend to disagree. [15:43] JD: Even the Disruptors came to market thinking that they could distribute without advisors. And by the way, many of them kind of successfully did. We talked about this in Patchos through the payroll providers and stuff, but have quickly realized that if they want any kind of real growth or any kind of real foothold in our industry, that they're going to need to be advisor friendly. And so, in all seriousness, it does kind of shock me that there are smart people at Morningstar, and when they're sitting around that conference table, I'm sure one of them is going to listen to this and send me an email. But when they're sitting around that conference table and they decide, okay, I know what we should do. Let's come out with a pooled employer plan that carves out advisors and let's limit ourselves to environmental social governance plans, I think that sounds like a phenomenal idea. If I sat on that board, I would laugh, get up and leave and say, you guys are stupid. This is ridiculous. So there are many in the chat bar said, this thing's not going to go anywhere. I agree with them. And the overall employer plan thing, we'll let that sit, Rick. We'll see how that plays out. And I don't, we don't want to get into that tonight, but maybe we'll [16:49] Chad: have to arm wrestle on that on my podcast. [16:52] JD: And Sherry, I think for all of us advisors, people in the industry out there, your kind of comments on environmental, social governance and how that might inspire participants to be a bigger, more motivated part of 401k plan, I think are well heard. I think that that makes a lot of sense and I think we should consider that as the industry moves forward and as well as you said, okay, well, let's screen them. Right? Let's make sure they're good ones. [17:18] Mark: Well, I think you'll be happy to know that I raised a capitalist, so he doesn't really care about environmental and social governance funds. He's investing in funds that, you know, [17:31] JD: the S P and sometimes I like to put. [17:34] Chad: Fantastic. [17:36] JD: Sometimes I like to put a sales slant on conversations. Whoa, Tony, easy In the chat bar. [17:42] Mark: Oh, what did I do? [17:43] JD: No, no, no, Tony. Sometimes I'd like to put a sales slant on this. And I've told this story before, but so shame on me, I'll tell it again. I was with an advisor several years ago, and we were trying to close a big deal, and we talked about and showed the American Century target date funds, and we talked about the Stowers Institute and then giving. What is it? What percent to their profits. It's a pretty big number of their profits goes to this cancer research. And I to this day think that one is the plan. I think the committee was a diverse group of people in different stages to their career. And when they heard that story, they got really inspired and behind it. And I know that might even sound a little sleazy in a way, but it was the thumbs up, that one. [18:29] Mark: They had an emotional connection. [18:32] JD: Got it. You got it. [18:33] Mark: You told a story, and they had an emotional connection and helped them make a decision. [18:38] JD: So there you go. [18:39] Mark: Thank you. [18:39] JD: Even capitalists, Sherry, even capitalists can. Can use socially responsible things for evil to win new plans. Right. And then it's a win. Win. I don't. That's not what I meant. That's not what I meant. Less. Less. Spin the wheel of ice. And I'm not quite sure how this is going to work. [18:59] Mark: I'm not going to play Mark if he wins. I'm wearing a robe. [19:03] JD: Sherry. [19:03] Justin: I get Rick. Oh, I'm sorry, Rick. It's just in order. Rick's gonna be Chad. [19:10] JD: Okay. [19:11] Mark: Okay. [19:11] JD: I'll be Mark. And so if it lands on Mark, [19:14] Justin: I get Rick and you get Sherry. [19:15] JD: Got it? [19:15] Justin: Yeah. [19:16] Mark: Okay. [19:16] JD: Okay. Brandon, spin the wheel. [19:23] Mark: We added malort. Cool. [19:33] JD: Do you have my lord or you icing it? You got it. [19:36] Justin: I'm icing. [19:36] Chad: I'm. [19:36] Justin: Throw a little vodka in it, though. [19:38] JD: Okay. All right. [19:39] Mark: Yeah. Make it worthwhile. That's totally what I do. [19:42] JD: I was kind of. I was kind of nervous for that one. All right. Four one K. Specialist magazine came out with an article, ubiquity announces record breaking growth in 2022. I got excited when I read this headline. I wanted. I've been keeping my finger on guidelines. Growth, human interests. Growth. And I kind of wanted to know from Chad Parks at Ubiquiti, as a past guest on this show, did they have some kind of stellar year in 2022? Much to my sadness, as I kept reading down, I got no numbers. I got no details. I got nothing except for they met more plan sponsors. They grew their advisor base. They. So, Chad Parks, come on, bro. If you're gonna do an interview like this, give me some numbers. I want to know how many plans you guys sold last year. I want to know what that growth looks like, but we can move on quickly here. But I want to get your guys's opinion on one thing. Chad who I. I love Chad Parks at Ubiquity. And I'm not even calling Ubiquity a disruptor, by the way. Maybe he'd like to call himself that. But they've been around since. [20:46] Mark: They've been around for the online 401k. [20:49] JD: You got it? Yeah. The online 400k out of San Francisco. So they're a real industry company, a record keeper slash administrator. I don't see them in the same vein as those others that I mentioned. And Chad was a great guy on this show and very smart and experienced in our industry, et cetera, et cetera, et cetera. But here's what he says, and I want to know if you guys agree. He believes that Secure 2.0, specifically the updates to the tax credits and the push for automatic enrollment and automatic increases for startup plans is going to fuel huge business for them in the coming years. Sherry's nodding her head yes. I'll go to you first. Is that how you and your 401k friends are thinking about Secure 2.0? That this is fuel to the fire and we're going to be selling a lot more business over the next few. [21:43] Mark: Well, I. This is what I think we. We actually talked about this in a crew that I'm part of. And, and I think that organizations that have a way to be able to shorten the lead time for 401k sales that. That start to look truly at the digital arena as a manner of amplifying the sales. Right. Selling those plans or use it as an opportunity to train new advisors. [22:15] JD: Fair enough. [22:16] Mark: Junior advisors. And they do it. They're going to pull a fidelity. You know, fidelity, you know, the. What is the urban myth says that the reason why Philadelphia got in 401k plans is because they saw far enough down the pipeline. [22:32] JD: I've never heard this. I'm all ears. [22:34] Mark: You know, that they saw far enough down the pipeline that they saw the rollover opportunities. I mean, just. I mean, just think about. Instead of looking at. [22:45] JD: They were the original. Let's monetize the participant thought process probably. [22:50] Mark: Okay. There you go. And I can't say that for sure. But it's urban myth. But nonetheless, let's just stop for a second and go. I mean I've been in this industry for half my life, okay. And imagine if I would have started as an advisor way back when, when I was a baby person in 401k plans, doing startup plans where I might be right now. So those plans are sizable. [23:19] JD: So I just think you're saying you'd be at the Lamborghini shop with me looking out. [23:25] Mark: I probably would get some kind of really cool souped up Jeep, not a Lamborghini, you know, somebody try to, you know, take the wheels off when, where I live in Portland. But what I'm saying is the opportunity is huge and I think that there are going to people who lean into the opportunity and then the other people, because we're so slow in our industry are going to be sitting there going, well, how do we do a small plan? And then. [23:48] JD: Yeah, you know, right. Because Rick, people like you might look at this legislation and be like, okay, there's a lot of stuff here for startups. So this is not going to change my life in any way, shape or form. I don't imagine Rick Unser, because of Secure 2.0 is running out to sell startup plans. What's your average client? North of 25 million or something? Yeah, a fair guess. [24:13] Chad: Yeah. And I think for me in the world that I'm in, in working with, you know, with companies out there, it's these emergency savings element, I think is, is probably one of the more interesting ones that I think employers are going to be jumping on. I think the idea of the, the after tax match and like how does that become reality? How do we, you know, are the Roth match, like what, how does that work? What does that mean? How do we, how do we communicate that? How do we, you know, how do we even think about that? Those are the things that I are, I'm hearing the, you know, the companies that I'm talking to are kind of thinking about or focused on again. I'm going to, I love the fact that we're giving people carrots to get into, you know, to start borrowing. [25:00] JD: Yeah. [25:00] Chad: I think, I don't, I think that's, I think that's great. I think it's needed. I think it's, I think it's really cool. But you're right, I mean to me that's not going to, it's not going to change the way that my business works or it's not going to, it's not going to change the way that That I go about, you know, but [25:15] JD: to Sherry's point, there are for sure broker dealers across the country that are going to empower their kind of younger advisors that are trying to build their business to say, hey look man, with these credits, with these tax credits and this free money, you can run out to plan to. I shouldn't say plan sponsors. You can run out to employers and say, hey look, we can start up a plan for you, and for the next three years, it'll basically be free for you. So let me tell you about how this works. I mean, if you can't sell free, you know, it's, it's going to be rough. But so. And then you think of all the. Do I say millions? No, the hundreds of thousands of businesses out there that are targets for this. Maybe it is millions. Is it millions? I should know better. Someday I'm going to learn more about the national stats of all this stuff. But so those national broker dealers are probably going to sell a lot of new business. And that's where people like Chad Parks and by the way, my company, we look at this and think, wow, we had some great numbers in, in Covid and whatnot. But with, with this secure 2.0, I expect Justin to sell twice as many plans next year as he sold this year. [26:30] Justin: Buddy, sorry. [26:32] Mark: Bring it in, Justin. Bring it in. Okay, but here's the thing. Rick is, is what, what will happen when those folks that have decided that are new to the 401k industry began learning enough that they do these startup plans or whatnot and then they start going, there's, there's more money over there. I, I do think what, that, that there might be some increased competition happening on the large plant sides too, because of the increased perhaps participation by others in our industry. Could be that they're right, that they're, you know, Rick's so late. He's like, not scared, you guys. He's like, I'm chill. I got my clients, they love me. I'm good. I already gave basically what you're saying. [27:26] Chad: Basically the, the starter 401k or the, the. All this new credits become kind of the gateway drug to get more people into the. [27:33] JD: I'm all about gateway advisory business. [27:35] Chad: And I think the more, I think the more people in our business, I think the more people helping employers, helping [27:41] Mark: employees is all a good thing that way. Good, sure. [27:47] JD: If you're going to get more people involved. Sherry's right. I was going to kind of dismiss her comment and say Rick doesn't have to be threatened by them. But you never know, some cool, inspired 29 year old might get into this biz and start off with a whole bunch of startups and build a really cool tech stack and, and an approach to how they do it and then start eyeballing some 50 million and $100 million plans. And I'll tell you one thing, I've sat with $5 million plans that have small committees that make decisions and I've sat with $150 million plans that have committees. And by the way, they're both as stupid as each other. Like they don't understand this stuff. Just because you're $150 million plan doesn't mean like you're all that much more sophisticated than the 5 or the 10. And which I would say means you could be sold to by someone else just as, just as easily. So it's possible that, that and like Rick said, he says great, that's awesome. Bring on the competition. Better for our industry. So I like that. [28:48] Chad: I mean, hey, I mean the reality here too is, you know, I'm in the position of like wanting more people to hire. Right? [28:56] JD: Good point. [28:57] Chad: So I mean there's a shortage of talent in our, in our industry and I think that then there's a shortage of people that know what they're doing. There's a shortage of people that want to be doing this and have a passion for doing this. So if this is a way that we can get more people involved, whether that's selling those plans, servicing those plans, learning about everything that goes into running a 401k plan and that increases our talent pool in the industry in a few years, I'm all for it. And I think, I think that's, I think that's great. [29:24] JD: I like that. And I hate to be the pessimist here, this wasn't the plan for today. But it does make me think though that yeah, we could have that 29 year old that's going to crush it and do great things, but we're also going to get a lot of people that are doing really shitty job. Like you're going to get like for every 29 year old stud that kills it, you're going to get 15 to 20 that are like doing half ass jobs and not doing it very well. I saw a post on LinkedIn this last week that was complaining about some of these disruptors and how they had gone on a hiring spree across the country and are hiring what you and I would call like 401k wholesalers to go sell 401k plans. But these people have very little experience, if any, in the. In the 401k industry, and are therefore guiding clients to improper decisions, telling them things that aren't accurate. And so, not to be a pessimist, but this whole secure 2.0 and this. This kind of tidal wave of startups could also create a lot of shitty advisors that don't know what they're doing. Is that lame of me to say? [30:29] Mark: It's kind of like. It's kind of like the. The demand for nurses during COVID Created fake nursing degrees. Oh, yeah, yeah. Created this. A couple of schools in Florida figure, right? Created fake nursing degrees. Sorry, Florida, I like to visit you. But. And. And now there are all these nurses supposedly that don't know what they're doing. [30:58] JD: The sense, oh, we don't need them all to be certified financial planners. That's taking it a little too far. But I definitely think we're going to have some people that are. Don't know what they're doing. Maybe we can get them a fart designation or something so they've at least [31:12] Mark: got something that's good schooling. [31:15] JD: Oh, shoot, you're right. [31:17] Mark: Drink that bad. [31:19] Chad: I don't think Justin's weighed in on this yet, though. [31:21] Mark: Katie here. [31:23] Justin: I'm gonna be honest. I don't even know what the hell we're talking about right now. [31:25] JD: Justin, Rick, he's all like, justin. [31:28] Mark: I'm still on that. I'm still on. [31:31] Justin: Grant's texting me. [31:32] Chad: I'm still trying to figure out how I'm gonna double down plans I sell this year. [31:37] JD: Justin will take any advisor, any way, shape or form. I believe. [31:42] Justin: Equal opportunity there. [31:43] JD: Yeah, you're like Stan. Young, old. [31:45] Mark: I'll take. [31:45] Justin: Send in Mark screenshots. What. What Hackler said about him not being. You know, he can't sell free, so Robbie's out of a job. You know, he's getting. [31:54] JD: Remember I told you. Is Sampo on here tonight? Remember how I told you that he's been quiet. If he is Kevin Boost written to me, the guideline guy. The funniest retireholics group chat Was. Was it Mark? [32:08] Mark: Yeah. [32:09] Justin: We were on the phone and he said, you got to put that in the group chat. [32:11] JD: Marcus JD next tall can talks. Have Kevin from Guideline and Jim Sampson, because Jim every week writes Guideline sucks in the chat bar. He just does it every week. Kills me. I had the pleasure of attending Sherry Fitz's live event this last week. Was it this week? I have such a bad. [32:32] Mark: It was last Friday. Yeah, it Was last Friday, actually. [32:35] JD: I actually watched it from my truck in the parking lot at the beach. Wow. [32:40] Mark: Thank you, jd. [32:41] JD: You did a great job. And thank you. You. I want to get to the hippie part next because I really liked the hippie part where you talked about the unicorn image being the one that you aligned with. [32:57] Mark: Yeah. [32:57] JD: And how you wanted to be. I think magical was the word that you said. You have me at all this stuff. You know, I was really into that. But let's table that for a second. Maybe we'll even talk vision board here in a little bit. [33:10] Mark: Okay. [33:10] JD: And let's talk more kind of Chad's nuggets here. Let's talk about something that people can learn in the audience and kind of take with them into their practice. You talked about using this AI stuff. [33:23] Mark: Yep. [33:24] JD: Drink for it. GPT. Oh, chat. [33:28] Mark: GPT. Open. You could just do open AI, right? Wait, no. Does that count? Okay, well, wait, which one of these is open? Look, you guys, I have like, little small things. [33:39] JD: Tequila, crack it open. I think you did something that a lot of people could say is pretty obvious and pretty simple, but I haven't seen anyone say it out loud yet. And so I don't want to. I don't want to take it from you. I want you to tell people your kind of ideas around this. But what I'm talking about for you, Sherry, is when you're talking about using it to like write something for you that then you're gonna. If I understood it correctly, then you're gonna tweak and modify. But hey, if you can get someone to write it for you, and that someone happens to be a robot, then why not? So share with the audience how they can actually use this shit today to get a lot of work done. [34:16] Mark: Okay, well, I'm just gonna say everybody go to my LinkedIn, right? And go to my most recent post. And. And I. And it's. There's a picture of a dog getting his toenails trimmed. And essentially, while I had that. And I'll tell you how this relates to using artificial intelligence in just a second. So dogs getting toenail trimmed. This guy, that's all he does is trim toenails for dogs and cats. [34:43] JD: Apparently he likes tie dye shirts. [34:45] Mark: I know he. There's a story behind it. One of his friends died. You know, that was the anniversary of his friends. And he thought about which shirt he should wear and what he wanted to send out into the universe. Of course, I had that conversation with him and it was that tie dyed shirt. Nonetheless, his name Is Mark super cool guy. And. And that's all he does is, you know, trim toenails. Yep. And so, of course, I. I say. And I said on. On the, you know, session that we did, which is that the minute you start creating content, content begins to find you. It does, because you start to see metaphors. And, you know, not stupid metaphors. Like when I'm riding in a plane and go above the cloud line, there's the sun. No, don't do that, bro. It's thing for me. But. But nonetheless, you see metaphors, and it was a perfect metaphor for niche. Right? A niche. [35:41] JD: Because the dude. Right. [35:45] Mark: Niche, niche, Niche. I say niche. Mature. Mature. I. Whatever. [35:51] JD: I'm kidding. Go on. Sorry. I should know one thing. I should not interrupt Sherry Fitz. I'm a loser. [35:56] Mark: All right, So I say. So I go on to chat. Gdp, I'm sure there's GPT, whatever. And I go on our chat and I say, okay, I say, you're a leading marketer in financial services with 30 years of expertise. You're writing a blog post about niche marketing. What are the seven most powerful benefits of niche marketing for a financial advisor? So Tony knows this because he knows that it's all about the prompt. It's all about the prompt. [36:30] JD: Are you aware of this, Rick, what we're talking about here? This being an artificial intelligence, she's putting this into a thing, and then she's going to prompt it with some more questions to get a better result. Have you looked at this at all? [36:42] Chad: I haven't looked at it, but I feel like. And maybe I'm. Maybe I'm not attributing this correctly, but I feel like I saw something on. Sorry, I don't know if you lost me there or not. [36:54] JD: No, we got you. [36:55] Chad: I feel like I saw something on LinkedIn and maybe this was Shannon Edwards that posted it, where they asked for a description of discrimination testing, and they. They put some prompts into that. And I thought that was it. I don't know that I love the description that came out, but it was. But I was like, wow, what a cool way to. What a cool way to use that. [37:15] JD: So you're right. You're on the same page of what Sherry's talking about. So go on. [37:19] Mark: So it's all about the. So it's all about the prompt. And then I got, you know, a list, and I said, give me a better list. And then I said, give me, you know, and what I saw was on the list. [37:30] JD: So if you'll notice, I know everyone probably Understands this. Can we describe prompt to everyone, like, what we mean by that? Like, we're trying to convince the computer to give us something a little better, a little different. Right. [37:41] Mark: Right. And so what. What I'm asking a great starter. And yeah, so what I'm asking it to do is I'm asking, I'm giving it parameters about who you are, who I am, who. Who I want the content to be written by. [37:58] Chad: Right. [37:59] Mark: So I just don't go. Give me seven benefits of niche marketing. I don't say that. I say this parameter. 30 years of expertise in the financial services marketplace give me. And I said, powerful. I didn't say, just you could say. [38:14] JD: You could say. And use big fancy words or don't use big fancy words. Like whatever you want. Keep. You keep molding the clay the way you want it, and eventually you get something that you kind of like. And here's what I want everyone to know what I learned. [38:29] Mark: And by Oprah, you can have Oprah. You. I want you to write it in the tone of Oprah Winfrey. And then she's like, and everyone. [38:35] JD: But yes, you get a 401k. You get a 401k, though, but you get something that then what. The way I understood it from you, which to me was kind of the aha moment of like, okay, but now you got this thing and now you can just tweak it. [38:49] Mark: Like, it's hard to edit than it is to write. [38:52] JD: Right. [38:53] Mark: I don't, I, you know, in school, people heard about math anxiety. I don't have math anxiety. I love me some. I mean, I know that, you know, whatever, but I have. When I stare at a blinking cursor, I have anxiety. [39:09] JD: It takes a lot of time to write content. [39:12] Mark: Creating content. J.D. you wrote an article for 401K, Specialist magazine. [39:17] JD: I know. It was phenomenal, wasn't it? [39:18] Mark: It was phenomenal. And I want to give you a shout out for it because I, I was, I was very proud of you that you wrote some content. You create content all the time. And people don't see the work that's behind it. Especially by Brandon. [39:33] JD: They don't know. Literary. Literary expert. I am. [39:36] Mark: Exactly. Exactly. And so Stere. So if so, what I did in my thing was, my session was I talked about Ecamm Live, where I could do some fancy shit, which I'm not going to do because I'll mess up. And then I talked about descript, how Ecamm lets me plan ahead for fancy shit. Descript cleans out all my arms and Odds. And then if what I really want to do is write some content, even a video. [40:03] JD: You gave lots of tools, tech advice. You were. You were very, like, on point. We're giving people actual action items that they could go sign up for and use different things. I just want to talk about the artificial intelligence to where, like, here's the crazy thing, everybody. That article that Sherry's talking about that I wrote, I don't know if I would go this far yet, but Rick, Rick writes articles, or at least he used to, for, like, big, fancy national media publications. And so if I had to write something for, say, Plan Sponsor magazine, I could go to the a. To the artificial intelligence machine and say, hey, I want to write an article on why pooled employer plans suck. And rick Unser from 401k Fridays is totally wrong about his hockey stick concept. And I could start prompting that thing and I could say, rick, I can tell it. Make it 600 words, make it 1200 words, make it whatever I want. [40:56] Mark: JD When I. When I did that LinkedIn post about Broetry, which I'm very, very. I hate broetry. I think it's ridiculous. When I did that LinkedIn post, I actually went to chat GPT and it was early on in my prompting thing, and I said, tell me why, bro. It's stupid, so tell me why. I just kept asking until I got something that I kind of liked. And then instead of saying poetry, I said a haiku and I edited it. And whatever. It's. [41:26] JD: It's like having a little robotic assistant to write stuff for you. And then, Rick, you just go in and clean it up. Give it your own voice. You know, it could do, like, to Sherry's point, I think it could save you hours. And then you can use it in all types of things. Like, I want to write an email to prospects and it should say that, like, it just could save a lot of time and things didn't get better and better. And Sherry, all I want to point out to everyone was that this is available now. You can use it now. Tony's having fun with it. [41:58] Mark: Tony does serious great stuff. [42:01] JD: I shouldn't say that. He's not just having fun with it. He's trying to apply, like, serious measures to it. And he's just getting started. And I think we all can start thinking about how we could use it as a tool going forward that can make us more efficient. And it's just going to get crazier and crazier. [42:17] Mark: A couple of things just so you know, you. That it would be you would be unable to write an article about Secure 2.0 because 2021 stopped in 2021. So. So there's some limitations and that's okay. I'm not suggesting that you don't put your brain on it, your creativity on it. So after I did all that seven powerful things, I went in and edited it and then I went and said authority, credibility, visibility, sustainability. I added all those big words that made it all seem consistent and edited it and put it in a pretty Instagram look and voila. [42:57] JD: Yeah, I do a little bit of moonlighting these days on some creative projects for foreign K people and I've been using it just as inspiration. Like I'm trying to work on signing a tagline for someone or some copy or some text. And I'll. I'm not going to use what it's going to feed me, but it's going to get me heading down the right path for some different ideas and stuff. So anyways, I just want everyone to stop talking about it like it's this thing in the future. Because what I learned from Sherry last week was, no, no, we should be using this stuff like right now. Like we can totally use this. [43:32] Mark: And then use my. Use my Jasper AI affiliate link, please. I can get 17. [43:42] Chad: Buy some more airplane bottles. [43:44] JD: I'm gonna play a quick nope or dope game and then we'll talk to Rick a little bit about 4K Friday's podcast, Brandon. It's the totally original and, you know, dopest game on the planet. The no per dope game. [44:04] Mark: I love this especially love that Brandon's in 3D on there. [44:13] JD: Much better than the old lamer game game. [44:17] Justin: I thought this was original. [44:18] JD: It is totally original. That's what I'm saying. All right, this is pretty simple. I'm gonna go to each of you and ask you a question about, you know, the world. [44:27] Justin: Explain this anymore. [44:28] JD: Just go that you live in and you'll say dope or dope and tell us why [44:34] Justin: hard. [44:34] JD: I'm gonna go to you, Rick, first. It's called a hard out. You join a zoom meeting or a conference call with your plan sponsor, client, whomever, strategic partners. And the call is set for, you know, 1:30 to 2:30. And you announced everyone the beginning of the call. No, I'm, I'm Mr. Rick Unser. I'm important. I have a hard out after 30 minutes and I'll be leaving this meeting. You're letting everyone know is are you nope or dope on this concept of a hard out. [45:05] Chad: I mean, I think you've got to be dope. I mean, if you're. If you're going to protect your time and manage what you're. Manage your day, you've got limitations that you've got to be able to make other commitments. So that's. It's all too real. The struggle is real. [45:19] JD: It's not rude. It's informative. [45:22] Chad: Yeah, I mean, I think if you say it, hey, I got to go. And this was an hour call, and I can only stay a half hour, two minutes before the, you know, your half hour expires. That's awkward. That's awkward. But if you announce ahead of time, hey, I know this is scheduled for an hour, But I got 30 minutes. Let's go. [45:36] JD: Okay, Sherry, I want you to actually hang on. I want you to be honest. Have you ever in your business time. Business life said to people you're hard out at the beginning of a call? [45:48] Mark: I don't use the term hard out. I use hard stop. [45:52] Chad: Yeah, hard. Okay, hard stop. Yeah, exactly. [45:54] JD: Oh, my bad. [45:55] Mark: I got a hard stop. I use. I. I say that a lot. I got a hard stop. And then, and then I said crucially important to not say, like, had a hard on at 2:30. [46:08] JD: Well, I especially don't want to say what we're doing. Okay, so you. [46:15] Mark: Jd, I have used it. And, and I say it at the beginning, as Rick suggested. I think there's some etiquette, protocol, whatnot. And I say it at the beginning sometimes because I. I do. I give. I give my time away. I. Eric knows this. If you want to spend 30 minutes with me, I'm all in. I'm yours for 30 minutes. And, and sometimes I actually have something else right afterwards, and I have a hard stop. And I do dope. Nope. [46:45] JD: So dope on the hard stop, not the hard out. Okay, Good for me to know. Not that I ever do meetings anymore. Justin. [46:54] Justin: Yeah, dope one. It's all about how you deliver it. Like they're saying too. I mean, I'll often, like, preface it with, hey, how are you guys on time? Do you want to have art? Stop. Okay. I also have it. [47:02] Mark: Oh, very aware, Justin. [47:06] Chad: I like. [47:06] JD: Right. [47:07] Justin: A little bit, you know. [47:08] JD: Do you hear that, what she's saying to you, Justin, you're. You're emotionally aware. [47:12] Justin: You're. [47:12] Mark: That's a good way to be emotionally intelligent. [47:15] JD: It's not that. It's not that I need to leave in 30 minutes. [47:17] Justin: Intelligent. [47:18] Chad: I am. [47:19] JD: I'm worried if some of you need to leave in 30 minutes I want to make. Oh, by the way, I gotta go in 30 minutes. [47:25] Mark: It doesn't matter. [47:26] JD: Non related and not a. Not an overdub question, but I had a meeting this morning or yesterday morning that came to me in Outlook and the start time from the meeting was 9am ish. And I was like, you know me. No, share it. I fucking loved that shit. I got on there, waited a little bit. The person got on around 9:07. I said, that's bowler, bro. I love the ish, man. I want to use that in my life. Don't know if that'll work well for clients Rick and Sherry. But anyways, I thought that was funny. Okay. Nope. Or dope. Tony Davis, Artificial Intelligence Art Portraits. I don't know if you've seen this. He. He did a retireholics one, which I'm fine with. He. He did one with Shannon S words recently or. There it is. Thank you, Brannon. So to you first. Now, Sherry. Tony Davis. You know I would drink AI Illustrative art. Are you dope or dope? [48:31] Mark: I am dope and I am pissed because I gave Tony a specific request last Friday to do me as artificial intelligence. Sigourney Weaver. I didn't see it. [48:45] JD: He did one of you though. I saw a Sherry Fitz AI illustration creation. [48:52] Mark: So yeah, I just want to point out to you it's 519. It's still light in Portland, Oregon. It's happening. It's almost March. Holy crap. [49:02] JD: Okay, thanks for that update. All right, Rick, would you like to see one of these of your mug? [49:07] Chad: I think dope. I've seen them. I've seen them. [49:09] Justin: They're great. [49:10] JD: You're into them. Justin, how did you like Tony's that he did for you where you had hair but it still looked like you were balding in some fashion? They. [49:18] Justin: Devin did that perfectly. Yeah, definitely look like they just stuck a wig on me. But hey, it was good. I definitely dope on it. And wait for him to do one on Rogan. [49:27] JD: Oh, he's not a Rogan fan. I like that. Okay, let's see. I don't know if you've got something with this Rick, but if you do like. I don't. You texted me, but okay. Nope. Or dope dad jokes. And I'm going to you Rick on dad jokes. And if you don't have anything, big plan. You sent me a funny meme on the Internet, but just dad jokes in general. Are you. No. [49:50] Chad: So you missed the point of the meme that the point of that was More the setting where you've got two dads telling jokes, trying not to make the other laugh. [50:02] JD: Oh, was that what was happening there? [50:04] Chad: It wasn't necessarily that. The words that were coming out of their mouth. [50:07] Mark: We have to get instruction on the main. [50:09] JD: Rick, I feel. [50:10] Chad: My bad, my bad. [50:11] JD: Hey, because of that. Sherry, the meme itself was a dad joke. It was, it was very. Making a fourth wall or whatever, you [50:18] Chad: know, so hey, what I will say from a dad. I saw this the other day was like, you know, hey, if you send stuff, jd, maybe you can appreciate this. It's like if you send, you know, this stuff to your kids and like, you know, why are mom and dad sending me this stuff? It's like remind them that we had to love their stuff that they did in kindergarten and say how amazing it looked. So this is, this is turnabout for all the stuff that we were. Applauded them about and said it was amazing when maybe it wasn't. [50:43] JD: Sherry, you know the classic dad joke, you know, it happens all the time. If someone uses one around you. Are you thinking that this is dope or are you. Nope, on this I use them constantly. [50:57] Mark: I got a laugh at a man in khakis. I mean, so. I mean, so. [51:02] JD: Whoa, you're Rick. Don't take offense to that. [51:05] Chad: Sorry, I moved on from guys. [51:08] JD: I. [51:09] Mark: Have you noticed this on sometimes on LinkedIn where there's a picture of all these lovely men in our industry and what happens is because of how it works with the photo and the. [51:23] JD: I love when you tell a story and I can't wait to hear the second half of the sentence. Keep going. [51:27] Mark: But it works. But it works with the aspect ratio and for some reason it cuts off their head and all we see is like this with a. Wait, hang on. It's a bunch of guys with khaki pants on and a name tag. I mean, it's so good. So I'm a big fan of dad jokes. [51:48] JD: That's your visual dad joke, Justin, Chad's a friend of yours. Chad's the master of dad jokes and he's not even trying. [51:55] Justin: So he is. I'm dope on him. Love giving people shit when they, you know, you got to call them out for it too. Especially my dad. My dad is all about those things. Like, come on, dad. [52:05] JD: Really? I can't come up with any. I can't come up with any off the cuff. But I also, I see opportunities for dad jokes around my 20 year old daughter and she's very. She's the fancy one living in Paris now. And so I know every time I use one, it gets her, like, really upset about it. So that's why I do it. [52:25] Mark: Is I I the only I? I can't send dad jokes to my son, but I am guaranteed to get a response if I send them a recipe for tomato soup. [52:38] JD: Very good. I would. I want to let everyone know in the audience, even though everyone is dope on dad jokes, I would not attempt to use these in a point of sale with a plan sponsor or proper fiduciaries. It would not go over well. Rick. 401k Friday's podcast. That's the way the cookie crumbles. Oh, yeah. God damn it. Insert tagline here. 4K Fridays podcast. The original gangster of 401K podcasts still going strong Many years. What are we talking, seven years later, Eight years later? You've had so many guests, very important people on your show for a while there. You're banging out every Friday these days. You're taking a break here and there, but still hitting us with consistent content. Sherry already asked you in the pre show, but for everyone that wasn't here, how many episodes are we talking about? Ballpark. [53:37] Chad: I think I'm just over 250 at this point. [53:39] JD: Yeah, over 250. And are you getting sick of this yet? Do you need to can it? Are you done? Like, are you going to keep going? Like, what's the future of 4K Fridays? [53:48] Chad: You know, it's funny, we were talking about this a little in the pre show. I feel like it goes into ebbs and flows right where, you know, for a while it's like, all right, can I do this? And should I do this? Can I, you know, do I keep going? Whatever the. I think from where I am now is I have fun with it. I'm not worried about how many people are listening and things of that nature. I got obsessed about that for a while, and that's not good. And. And now it's just, hey, I feel like, you know, I've got a good format and I get some great people that reach out to me that want to be on the show, and I get to have some great conversations. I learn a lot. So hopefully that means other people learn a lot. And that's kind of how I'm defining success at that. And as long as I keep. As long as I'm able to keep doing that, then I'm going to keep going. So hopefully that. Hopefully that helps. [54:36] JD: Webby's a big Ari fan. Ari's done 229. Okay, Ari, in that category of saying [54:43] Mark: I'm just keeping track because Webby just got a good one and then Hackler [54:47] JD: did a good for you. [54:49] Justin: When Sherry going to be on Rick. [54:51] JD: Oh, that is a great point. [54:52] Chad: Oh, there you go. Good point. [54:53] JD: Wow. Do you know what? [54:54] Chad: I have to think about that one. [54:56] JD: You know, I do, Justin. I use Rick as my. [55:02] Justin: Is that where you get your guests [55:04] JD: podcast goes guest Trojan horse in a way. So think. Think of a guest that I would define as, I don't know, say, button up or very professional. You know, someone who's. And. And I'm like, oh, fuck, I want to get that person on retireholics. What I usually do is I text Rick and I go, hey, Rick, can you. Can you call this guy and talk to him for me and tell him that he should be on our podcast? Because I feel like Rick. Rick and his quarter zip with his Dockers is so professional. They've agreed to be on his show that if he tells them to come on our show, they'll do it. It doesn't always work. [55:40] Justin: Always wondered how you pull the guess. [55:42] Chad: I feel like I've gotten you a couple good polls over the years. [55:44] JD: Oh, you have. You have for sure. I just. [55:47] Mark: But I want to go back and say congratulations. 250 podcasts, Rick. It's just phenomenal. I mean, you. You. You downplay it. We're like, I do it every other whatever. Damn. [55:59] JD: Is that the cost of me from the heart? [56:03] Mark: It's. No, it's really from the heart. [56:05] Chad: I'll take. I'll take it. I'll take whichever one. [56:07] JD: No, no. He truly has. He's done. And he's done some big, big gas that we can't get on this show because they want to stay professional, and Rick does them. And so if anyone you know is out there, if you're not aware of this, there's two. You go to 4K Fridays Doc, the Internet place, and they're all there. You can watch them all. They're all about 60 minutes long. And the difference between what Rick does and what we do here is Rick asks professional questions for 60 minutes straight. They get into the nooks and crannies of it all, and that's us right there each week. But so I highly recommend it. He's got so many there, you could actually pick and choose from the guests and the subjects that you're most interested in. And. And I'm not just saying this because Rick is a friend and he's been on the show. I really have gotten a lot of value from those over the years, and I sit and listen to the great, great majority of them. And so, yeah, thanks for doing that. We appreciate it. And hopefully you. You keep doing it, even though I know how difficult it can be. [57:17] Justin: Does that take you a week, Rick? [57:18] JD: Smooth. [57:20] Chad: I've got a guest recommendation. [57:22] JD: I'm learning a lot from you right now, dude. [57:25] Chad: I've got a guest recommendation for you, though, jd. [57:27] JD: Oh, I'm. I'm down. [57:29] Chad: You need. You need Allison Cohen. [57:32] JD: Oh, who is that? I know that. [57:34] Chad: Who I just had on to do the secure 2.0. [57:38] JD: She. She would be. [57:40] Chad: I think she would love to do retire holidays. [57:43] JD: Cool. [57:43] Chad: She said forensic. Yeah, she's at Frenzy Benefits in. In Atlanta. [57:48] Mark: Shout out to my birthday sister Eileen. Irene is my birthday. [57:53] JD: We've had Irene on. [57:54] Mark: She was my birthday. [57:55] Chad: Sister Alison is probably the most. One of the most entertaining ERISA attorneys you will talk to. [58:02] JD: Okay. Can you do me a favor? Can you also. [58:06] Chad: I will. [58:06] JD: Can you let Shlomo know that I'm not some weird stalker, that I actually have a podcast that I want him to get on? Because I feel like his responses to me have been a little like, can leave me alone. I don't. Please go away. I'm like, come on, slow mo. Let's do this, buddy. What do you. I can't get him, so maybe you can. [58:24] Chad: I'll. I'll work on that for you. [58:25] JD: Grease the wheels a little bit. I fucked up. It's San Diego, California. It was sunny today, and we had a nice little soft offshore wind. And if you've never surfed in your life, when this offshore wind kind of hits the Pacific Ocean, it just grooms the lineup. It'd almost be like, Justin, you. You snowboarding in powder, right? Just. There's not a drop of water out of place. And I pulled up to the beach, and I was like, man, I got. I got a lot of things I need to do, one of which is figuring out how to send the chap. Our champion from last week, Guy Hawker. A bunch of stuff I gotta prep for the show, but I was looking at those waves, and the waves won out. So I. I made it back here just in time to kind of tune in and get going. So we will. We will do a double duty next week with Guy Hawker's prize. And whoever wins tonight. Sorry, Guy. But good. [59:23] Justin: He's not even in here. It's fine. That's the better. [59:25] JD: He isn't. Okay, guys. Good things come to those who wait. I thought I saw him he probably bailed earlier when his Shit. When he realized his was like, motherfuckers. I'm out of here. Sherry, you've been taking notes, so I'm sure you're ready. Well, I got our champion. [59:42] Mark: I got a hack because he. He did a sphincter thing, and then [59:46] Justin: he did the Ari, that was three pieces finger. [59:49] JD: Sphincter's always did. [59:51] Mark: Really? Three Piece did the sphincter before. [59:54] Justin: Yeah, I know. [59:55] Mark: Oh, golly. [59:56] Justin: Oh, shit. I don't know. Maybe Hacker did. [59:57] JD: Golly. Oh, golly. [59:59] Justin: I. I broke. [1:00:00] Mark: Oh, golly. Okay. And then the other one was. Yeah. So I'm gonna have to. I'm gonna. Okay. I'm gonna go for Webby. [1:00:10] JD: Okay. All right. That was out of the way. [1:00:13] Mark: Well, I know. I was keeping track. [1:00:16] JD: Okay. [1:00:16] Mark: And then. Then if. If Three Piece did the sphincter thing. [1:00:20] JD: Okay. Well, Sherry, I appreciate you, because. [1:00:22] Justin: Not happy I said it was him. [1:00:24] JD: I haven't been able to. To pay attention, so. Sorry, Justin. [1:00:29] Mark: And by the way, I just want to point out that I've been doing a really good job in the chat. [1:00:35] JD: Good. Who. Who used sphincter? [1:00:39] Justin: It's. It's Hackler. He's saying he used it before a three piece. I didn't catch it. [1:00:42] Mark: So my point is. [1:00:43] JD: Oh, they did. They both use it. Okay, I'm gonna. I'm gonna go against every fiber in my body and. And. And vote for Will Hackler and his use of sphincter, since Sherry took notes on that. So Will Hackler is my vote. Sherry's got Webby. You too. Who do you got going? We'll go to you first, Rick. [1:01:03] Chad: I've got Sue. I've got sue for agreeing me that. Agreeing with me that Alison Cohen's fantastic Sue. [1:01:10] JD: Okay. We love Sue. Sue agreed with you. And by the way, I'm trying to line sue up to get on this show in the future. Justin, we got three different people. Do you want to make it easy on me and choose one, or do you have a passionate belief for someone else? And Brandon can break the time. [1:01:26] Justin: Oh, I mean, I feel like I have to because I screwed that up in Hackler. I'm gonna go web. He commented here. He complimented me tonight. [1:01:34] JD: You know, that gets my win, Webby for being nice. And C. Hackler doesn't always pay off to be mean. So, Michael. Hello, darkness. My old friend Michael Webby is chat bar champion for this week. He will join Guy Hawker next week in a wonderful delivery of assorted goods from some local store. Be prepared, Webby. And if you have any loved ones or children at the house, please make sure that they don't open the box. Because. Because it's. Yeah, it's not appropriate for kids to be looking in the stuff I send you on a Thursday night with that next week. What is all this JD Wins at? Oh, they're talking about me surfing at the beach? Yeah, bro, is it going to ruin [1:02:30] Chad: your image if I say I can't wait to see on the golf course in a couple weeks? Is that going to ruin your image? [1:02:33] Justin: Wait, you guys are going golfing? [1:02:35] JD: We're going to try to set something here. We're invited, buddy. We're going to do it up in your area. [1:02:38] Justin: Oh, now I'm invited Because I said it. [1:02:40] Chad: Yes. [1:02:40] JD: No, no. [1:02:41] Chad: You were invited the whole time? [1:02:42] JD: Yeah, we are. [1:02:43] Justin: I never heard shit about this. [1:02:44] Chad: All right, you got to log on earlier then. [1:02:46] JD: Yeah. [1:02:47] Justin: I don't like. [1:02:47] JD: I don't like people knowing that I got. But it's okay. We'll keep it a secret. [1:02:53] Mark: Okay. So should I come down early, JD For Napa, so that you can take me paddleboarding somewhere? [1:02:59] JD: I would love to. We're going to have to line up those dates, and I got a paddle board here for you. I'm going to be surfing in Mexico for the Napa event, and I'll drink for that. [1:03:11] Mark: Okay, well, I'll come get your paddle board then. [1:03:14] JD: But I might be here, like, before or after something like when you're here, like, I don't know how. The dates line up perfectly, but I was not invited. The retirehlets were not invited to the national association of Planet. [1:03:26] Mark: My gonna be in San Diego in August because that's where I'm going to do my operation amplify. [1:03:32] JD: There you go. The water will be nice and warm then, too. [1:03:35] Mark: So sweet. Okay. [1:03:36] JD: But yes, anyone that. Anyone that makes it to San Diego that wants to go in the ocean, hit me up, man. I'll take you out there. I lost one advisor one time in the waters of Santa Cruz, California. We never saw him again. He floated away. We were trying to get him to paddle in. He said his shoulders were too sore and he couldn't. He just stopped paddling. The current just kept taking him. And he's like, jd, help me, help me. And I'm like, sorry. Fucker. Should have prepped, should have practiced. [1:04:03] Chad: And that's not going to help Justin's approach. That's not gonna help. [1:04:08] JD: All right. Brandon told me not to ramble. [1:04:12] Justin: What'd you say, Rick? [1:04:14] Chad: That's not going to help your quota. If you're losing advisors at sea, how are you going to sell twice as many plans this year? [1:04:19] Justin: It's Santa Cruz. I don't cover those guys. [1:04:20] JD: That was all talk. That guy's all talk. He was a rookie. We hadn't got anything out of him yet. [1:04:24] Mark: Exactly, Tony. [1:04:26] JD: He was a producer. I would have gone out there. [1:04:28] Justin: Well played, Tony. Well played. [1:04:30] Mark: Also Zang JD Never sold anyway. Like I have to revote. Sorry, Webby. Nobody gets it. [1:04:39] JD: Sherry, thank you for joining us. And thank you for not being afraid to. When answering a question, just let your heart tell you what to say and take your time with it and be brave and say what you want to say. That's why I like you. That's why you and I have always connected. I didn't get very show. We could talk vision board if you'd be willing to. You don't have to. [1:05:08] Mark: Oh, I'll stick around. I'll talk. No, I will talk vision board quick [1:05:11] JD: 7 minutes vision board after show if anyone wants to go for that. Rick Unser, you long time friend. [1:05:19] Chad: Cheers, bro. [1:05:20] JD: It's. Yeah, it's been nice being your buddy for all these years. Having a 401k guy to call my friend. And again, great work with the podcast. Hope to hang out with you more in the future. 401K. Brothers and sisters unite. Justin, thanks for being here. Chad Johansen and Mark Palmer are drunk as fuck at the pebble beach golf tournament. [1:05:45] Justin: They're probably their hot tub tonight. [1:05:47] JD: They're probably in jail right now at this point for harassing. I'll drink for it. PGA Tour. We were just trying to have a casual little bath. And with that, we are the retireholics. We are changing the retirement plan industry one little baby Casamigos at a time. We'll see you next week. And I was play some music. [1:06:16] Justin: Bye, Rick. By Sherry JD.