BONUS: Recap of Capita's Fall 2022 Educational Bootcamp

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Zacc Call is joined by Tyson Long to give you a quick summary of Capita's Fall 2022 Educational Bootcamp. Listen for highlights from Kurt Brown's market updates, Tyson's overview of the market from this last year, Erik Soderborg's insights on Medicare costs and options, and Zacc's strategies for saving on taxes when doing a personal audit.

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Welcome to the Financial call. We are financial advisors on a mission to guide you through the financial planning everyone should have. Whether you're doing it yourself or working with a financial advisor, these episodes will help you break down complicated financial topics into practical, actionable steps. Our mission is to guide motivated people to become financially successful. Welcome, everybody. This is a really short episode. This is really to explain an event we had yesterday, and today is October 6, it will take a little bit of time for this episode to come out on your podcast player. But on October 5, we held what we call a boot camp. It's a night in which we go through two or three or four different topics of education for our current clients at capita financial network. And if you would like to join or watch that, we will have that recording up. So that's the reason we're here today. I've got Tyson with me, Tyson long as an advisor with capita Financial Network Hello, and Tyson helped to present yesterday on the markets and what's been going on. So markets have most people spooked right now. And we talked a lot about that. I would say more than half of the bootcamp was on that. I think, just for newer people, we do those every six months. Is that right? Spring? And we do? Yes, so we do a quarterly market update every quarter. And then we do a boot camp every six months. And typically, the bootcamp is less market related. It's more like financial planning, strategy, taxes, estate, wellness, all of those other topics that circle around your money, but aren't exactly your investments, we just figured with what's going on may as well throw some market stuff in there. Yeah, we couldn't ignore it enough people wanted to know or talk about it. So we will give you some instructions on how to find it. Let's go through real quick and explain. Actually, you know what, I'll explain where to find it for. So if somebody doesn't want to listen to the rest of this, they can just go tune right in, we won't be offended. So you can find that do. That's right, we can find it in one of two places, you can go to capita financial, that is our registered investment advisors website. So capita, financial And then at the top, there's a button called Education Center. If you click on the Education Center, all of our education gets loaded here, a couple of ways to find it, you could just scroll down, it'll be in the feed, it's kind of a blog format. So you would see an entry with this fall boot camp. Or you can click on current events, typically it gets put in there under a current event. But I would just start with the Education Center, scroll down, it's going to be one of the latest entries in there. The financial call is the podcast. So the financial And then there's a button up at the top that says podcasts if you click on that, and then scroll down, same thing. The most recent entries should be one of our guided path episodes, or this and you'll see it right there. So those are the two ways to find it. And it will be an actual video on YouTube. The slides will be available as well. If you'd like the slides, just email us if they're not already on that page. And we'll send them to you. There are a lot of slides we burned through a lot of them fast. Some of them we didn't really look at about 80 I think total got my chicken wings, one in there. That's when we did spoilers. Well, apparently Tyson, it was really chapped about the cost of chicken wings going up with inflation. Yeah, it's good stuff. It's good to see those prices coming down. Yeah, exactly. Okay, so let's go through real quick what it is that we talked about. So the first quarter to a third of it was all on what's going on in markets right now? How do markets look? And what should you expect in the future, we have our guest Curt Brown, he's the chief investment officer of Townsquare capital. That company is now part of Orion Orion is one of the largest wealth management firms in the country now, especially for registered investment advisor firms like us. So anyway, Kurt did a great job went through and explained what he's looking at what risks exist, I guess the feel the general feel I got from that is when it has looked this bad in the past. The subsequent one, two and three years are usually really great. Yeah, it's refreshing. Every time Kurt brown shares, statistics and information. Sometimes I can't wrap my head all around it right in that moment. But I think the message is usually like economy's doing pretty well, I think better than most people think. And that's part of why we're trying to slow down the growth. So it's not too fast. It's refreshing just to see that things are actually doing pretty well. Obviously market hasn't done as well. But the underlying economy is strong. There's no major like calamities or diseases in the system like a 2008. So I think there's a lot of reason for optimism, and also just some of the fact points he shares about where we might see market bottoms. Obviously, nobody's calling a market bottom or anything like that. But it's refreshing to get a little bit of a reality and sanity check for sure. And then we gave Tyson the fun task of talking about what has happened over the last six to 12 months. I didn't realize that was going to be such a difficult thing. When we first said, Hey, Tyson, you willing to go over what has happened. You didn't even blink. You were just like Sure. I mean, obviously it's a tough year. Nobody can argue against that. But I do think are some silver linings. You know, I think again, people who have diversified portfolios as we obviously tried to build for our clients, their winners. Anytime you're over concentrated this has been a year where you really kind of see, I think Warren Buffett has the quote, rising tide floats all boats. So when the tide goes out, you find out who's not wearing swimming trunks. This is one of those cases, there's certainly winners, it may not feel like it. But there's definitely winners out there too. And I loved the slides that you provided that showed each Well, not exactly each, but like each sector, not every single stock, but it showed the largest stocks, and how well they had done last year compared to year to date this year. Anyway, this is a really fascinating slide, you'd love it, you can see how big Amazon, Google, Apple, Microsoft Tesla are compared to the rest of the market. And then you can see it has a different shade of red versus green that shows whether it's up or down and by how much a wonderful visual to see it all at once or understand what's going on. I liked that one a lot. So then after that, we had Eric Soderbergh with senior benefits with us. That was awesome. So we took a camera and overhead camera and pointed it down, turned off the lights, avoided the glare on the thing. And when he drew, he basically laid out all of Medicare. So this is we moved out of talking about markets at that point, he laid out how supplemental plans work Advantage plans, part A Part B, prescription drug plans, the benefits, pros and cons to each why people end up going one way or the other. And I loved love love that he didn't, that a lot of Medicare agents are very, I don't know, they're just very in one lane and looking at it one way, like you wouldn't even know what he even prefers. I don't think he does. They're very open to Gnostic. Yeah, that's a great word. Thank you for the you know, you're right, though, because it's easy to pick one side of the argument and really sell it hard. And it can make sense if you're looking at it from just that one angle. So it's it's refreshing to see both angles, for sure. Yeah, I like that a lot. It was great. So then, number four, I went over tax audits. So not the kind that you hate, but the kind you like not being audited by the IRS, but having your financial adviser audit your tax return, in order to have a better understanding of what strategies are available to you moving forward. And let's just throw it out there. Like we all love to pay less taxes. I think that's one thing we can all have a common enemy is taxes. It was awesome. Yeah. So I think this is a good opportunity for people to really work with their financial advisor, to be able to think about taxes moving forward, it's hard for a CPA, to really look forward very far, they have to do everything just right, filing for what has happened in the past. And they have so many customers when it comes to time constraints. Most CPAs don't have that much time, unless you're paying them extra retainers, to really strategize and look forward. And so we find that a lot of CPAs end up well, a lot of our customers oftentimes wish that they had more forward looking strategy on their taxes. So we hope that these audits provide that we know it can because we can build out future scenarios. And I don't mean to downplay the work of CPAs. They do a fantastic job, and many of them do look forward. It's just hard because they are so so busy with all constraints, yes, keeping up with tax code. Anyway. So this is where your financial advisor can step in, look forward and model out the next three or four years worth of tax situations and give you a feel for does that Roth conversion make sense? Does it not? Should you be structuring your charitable giving in a different way? Should you be doing what they call a qualified charitable distribution, there's a lot of different ways of handling or adjusting your activity to have an effect on your tax rate. And that's where the audit comes into play. Frankly, it's such a multi variable system, it's hard to know if one little change is going to have three other ripple effects on some other phase out. It's nice to have some software to be able to throw that in and get an output and determine what you think is best. Anything else? No, I think that's a good summary. Okay, so I did read part of it. It was awesome. So you'll be able to find that, like we said on the financial or capita financial on the financial call. It's on the podcast page on capita financial network, it is on the education page. Click on either of those. And if you can't find it, just find the phone number or email address on either of those websites. Reach out to us. We'll help you find it. We'll send you a link No problem. Thanks for listening. This podcast is intended for informational purposes only and is not a substitute for personal advice from capita. 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