0:02 The following is paid programming. Welcome to Something More with Chris Boyd. Chris Boyd is a Certified Financial Planner Practitioner and Senior Vice President and Financial Advisor at Wealth Enhancement Group, one of the nation's largest registered investment advisors. We call it Something More because we'd like to talk not only about those important dollar and cents issues, but also the quality of life issues that make the money matters matter. here he is your fulfillment facilitator your partner in prosperity advising clients on cape cod and across the country here's your host jay christopher boyd everybody to something more I'm chris boyd I'm here with jeff perry and russ ball we're of the amr team at wealth enhancement and really glad to have you with us for another uh segment of our program our show is all about uh personal finance and those quality of life issues as well so glad to have you here hope everyone had a great thanksgiving it's um it's one of those things that it's good to temporarily every once in a while to step back and think about gratitude and our blessings and all the things that we are grateful for sometimes those things are um far beyond the material things.

1:22 But we're in that season of materialism now as we're moving on to a holiday season. Well, that didn't take long, Chris. Anyway, did you want to comment before I jump on to other things? No, I'm just giving you a hard time. Yes, yes. It is good to be thankful for many things and gorge yourself on too much food. Right. Now the diet begins for about two, three weeks and then not so much because of all these activities. This is like a free month. You didn't know that? Yeah, there's so much going on, right? And this one's so compacted. where Thanksgiving is late this year and we'll be flying through December with all that goes on.

2:08 Now, save your diet and good eating habits for your New Year's resolutions that you won't follow anyway. Yeah, probably accurate. Well, I want to also just step back and give a gratitude moment. Thanks for stepping in for me last week and you guys with the shows you did. um good stuff I I um have started listening but haven't finished listening to um our podcast episodes from last week I thought they did really well and russ did a great job producing and adding some color to the guests and if they people haven't listened to them they're always available on our your favorite podcast channel and do check them out and share and like and give us a rating it really helps as uh that people always point out I have another side note on that before I forget because I meant mean to do it and I forget um in the notes of this show in the last few shows we have a link to a podcast survey that we're doing good point so if you're interested in uh telling us how we're doing or how good or bad or what you'd like to hear more or less of, please click the link and provide your comments.

3:26 They're very helpful to us. Yeah, I love that. Good thought. We want to know, we want to produce a show that you want to hear. So we'd love to hear what your feedback is, what kind of content is most enjoyed. And of course, if you always have a question, you're always welcome to send us a question as well at amr-info-info at wealthenhancement.com. Well, let's jump right to it then. As far as we look ahead, it's that time of year. It's Black Friday, the time to go shopping.

4:06 I don't know, did you guys... Always get up early and beat the crowds on Friday morning to start your Christmas shopping off with a bang. I feel like Black Friday has really extended to there's a whole almost month of deals. I'm already looking at the different deals. So I feel like Friday is going to come and go. But then there's Cyber Monday. So there's plenty of time to do some... I agree, Russ. A couple of days ago, our microwave died. And so I was looking online to buy another one. And I get a Black Friday deal on Tuesday or whatever it was.

4:49 I have the same story. I was doing a little bit of... early shopping and yeah, good deals, you know, start, but you're right. Started early. So do you guys tend to do your shopping online? Do you tend to do it in person? Do you, do you, are you, I mean, I know Jeff's answer to this. We'll ask Russ. I was going to say, are you really organized and have a list and, Jeff's probably got a list down to the penny as to what he's willing to budget for whatever. Wow. I didn't think you were going there. Okay. Am I wrong, though? Come on. I didn't say you were wrong. I just said I didn't think you were going there.

5:29 No, no. But you're methodical. You're very organized and well-considered. That's a polite word for that. Thank you. You're very deliberate. How about you, Russ? Well, I can't say I'm quite like you, Jeff, but I do have a loose idea of, you know, a few different areas I want to start looking at. And I have a few items listed down that I want to see if there's any deals that pop up. And I'll check websites every day through Cyber Monday, even after, just to see if there's any deals that I missed. But so it's a little bit less meticulous, but... Still sounds pretty prepared. Yeah, I do prepare a little bit. You won't be running out on...

6:11 Christmas Eve, it sounds like, huh? No, no, no. I do not like to do that. If I could help it. one big difference with us since we've moved to florida um but we still go to massachusetts for and rhode island for christmas is we shop early because we ship everything direct to lisa's mom's house and so it's so it's all she's our she's gladfully uh our mailbox there and all for you that's right and then when we arrive a few days before Christmas, Lisa, my wife goes starts and starts wrapping and all that. So we kind of have to start early and we have to shop.

6:52 We don't have to, but this is what we choose to shop online and to ship right to Freetown, Massachusetts. There you go. There you go. That's good. Good planning. That's makes sense. That's all the more reason you have to be prepared. Um, Just as an aside, you mentioned Florida. Last week, I was in Florida for the summit, which was the Wealth Enhancement Group Summit, where a number of financial advisors gathered. And it was great, great contents, a lot of opportunity to talk about Wealth Enhancement Group as a business and some of the goals the business has and our our mission and some of the focus on one of the things I always we've had Jeff Deco on when we first joined Wealth Enhancement Group.

7:42 And one of the things I really enjoy about his comments as CEO is he always seems to put it into great context about the it's all about the client and what we're doing for our clients and the importance of um financial planning and the lives we touch and so I um I liked that there was also a lot of chance to interact with other advisors see what they're doing well what their um best practices are and uh the content of the the presentations throughout this uh this conference was um really focused on best practices of various types.

8:22 So the round table we talk about with Wealth Enhancement Group, the opportunity to interact and glean information from other experts in their area of expertise was on full display at the Wealth Enhancement Group Summit. But while I was in Florida, Jeff, I noticed that Boy, it was really different. There were like all kinds of the Christmas holiday season was out in full display. And it just seemed to be earlier here. Our neighborhood's fully decorated and, you know, the clubhouse for the community and the gates and everything.

9:06 They've been on for a little while. So they are they do seem to go a little earlier here. Yeah, the holiday spirit, if you will, was very present and noticeable. And the percentage of participation on homes is much higher than where we lived in Massachusetts. Part could be that you don't stand out and freezing cold rain to put them up or down I don't know yeah yeah good point easier uh on yeah in terms of the temperature the climate to deal with that but anyway um yeah so uh wealth enhancement group uh great summit and um great uh content that came out of that I'm sure it's going to afford us the opportunity to talk to some of those other advisors.

9:53 I will say I did get the opportunity to go jet skiing. Oh, you did? I knew that that was planned. That was new to me. Survived, yeah. Yeah, those things go fast. They do. That's why they're fun. It was fun. I was a little nervous at first, but, man, that was good. but anyway, uh, interesting when it was, uh, some choppy water, you start going to the airport. Yeah. Just a little bit. Just a little bit. Uh, fortunately it wasn't too choppy, but, uh, yeah, had a little bit of that. Um, you see any dolphins or anything in the water? You know what? I totally missed it. There was behind us as we were leaving the, um, the little Harbor area to go out into, you know, a bigger Bay or whatever.

10:37 Um, there was, uh, was a pod of of dolphins that we I didn't even notice they're like following the the wakes yeah yeah so unfortunately uh I missed it but uh but others others told me oh yeah there's a whole group of them so anyway um so uh let's talk about uh small business saturday a little bit and the history of these kinds of uh things you know we think about online shopping and I think we've all gotten accustomed to the convenience of just right in the palm of your hand doing some of our shopping that way and there is a real value to that ease and convenience that, you know, it's, it's appealing at the same time.

11:30 You find there are fewer and fewer opportunities to actually go into stores sometimes because there aren't as many, uh, you know, local shops and stores. And whether it's big business or small business, you find that the online activity changes the way we shop and the ability we have. I mean, this time of year, I used to love Toys R Us. What's that, right? So you got to think in terms of those small businesses that are local businesses and being sure to patronize them as well.

12:11 Absolutely. Keep, keep that those local businesses that depend on our, our shopping, our revenues to keep them afloat. This is an important time of year for a lot of small businesses. It is, you know, there's also been a trend of a lot of these small businesses creating an online pleasant. So if you look at like Shopify and some of the, companies that service small businesses selling their products they're doing very well so you know people adapt to the customers wants and needs so that's another way you can support a mom-and-pop shop or small businesses to shop online if you're only shopping online which a lot of people do but you can also search out for small business opportunities while searching online.

13:01 Meaning buy your products from the local place online. Right. Yeah, that's a good point. I think the big part of this, when we think about this time of year, we want to think about preparing and planning. And Jeff, I was giving you a hard time earlier. But as a practical reality, This is one of those seasons where people get into a lot of financial trouble that comes back to haunt them at the turn of the year when those bills start coming in. And everyone has different resources and abilities and whatnot, but no matter what your wealth or income, It's probably a good idea to step back and do some deliberate consideration about what do we want to do, how much, how many people, and then magnify what that adds up to.

14:06 When you have kids, naturally, you want to give them everything. But at the same time, it can be really costly and burdensome, and you have to be sometimes intentional. Of course, if you rack that up on a credit card and don't have the resources, to pay for that on the other end, that's going to cost a lot of money. It's not just the cost of the purchase, but then, you know, fifteen percent interest or, you know, twenty percent or whatever the credit card interest rates can be, which can be pretty substantial these days. So, you know, you really need to be deliberate in the process.

14:48 And in some cases, people think about gifting and very generous gifts to their children, their adult children, whatever it may be. This is another thing we sometimes think in terms of, let's do a little bit of financial planning. Are we going to do this as a one-time thing? Is this going to be an annual thing? How much is really affordable? This can be, again, one of those times, Jeff, like you talk about, it can give us permission or it can be in a position where we can say, oh, wait, that might be too much. So we want to take a moment and... see how it plays out.

15:30 Set expectations that are realistic. Is this something we're going to do as a one-off? Is this something that people are going to become accustomed to and grow dependent on? Can we afford that? I don't know. I threw a lot out there. Take it away. Let's start with breaking news. Christmas is December twenty-fifth. Ideally, we'd love it when clients or listeners are budgeting for christmas right or or gifting throughout the year we'd love you to start the year every year with a projected cash flow and you the things that you can predict and have an emergency fund for those things that you can't predict these are all part of a you know a comprehensive personal financial plan that we want you to have so hopefully you have a you have a budget for christmas you have a budget for the holidays we'll get into gifting family gifting in a second But even if you have a budget, and especially if you don't, there's a lot of pressure on you during this time of year to, as you said, to meet those desires of the children who see something and they want something.

16:41 Or maybe you have a spouse and you want to do something special. Or maybe you have a new relationship and you didn't realize that when you did your budget. And all these things. But your points are very well taken that if you overspend and you don't have the ability to pay that credit card bill comes January, it's really going to, not only affect your debt load, but it's gonna affect your ability to meet your budget, because now you have credit card payments and interest payments into the future. So, you know, pause for a few minutes, don't act emotional when you're out shopping, try to have a budget, even if you don't have an overall budget, try to make a budget for this Christmas, something that makes sense.

17:24 And think about alternative gifts that don't cost two hundred dollars, right? A thoughtful gift that's not always the expensive gift kind of thing. You know, like parents, if you're giving to parents or grandparents or family members, they would love to have a new picture of you and your family, you know, in a nice little frame, a few, ten bucks for a frame, right? And that would mean probably more to them than going out and spending a couple hundred dollars on some gift that they may or may not want, right? That's a good point. Yeah. So you don't always need to spend money to make a big impact during the holidays and give something meaningful. If you have a skill or craft or ability to make something, those gifts are really meaningful.

18:10 So love that. Right. So you don't just have that goes into it is like, is, is, is more than the value of maybe what it costs. I think that it is. And I, you know, you see those gifts when they're opened, And it just is that much more meaningful that you thought the time to do something personal and not just gift cards are great. And sometimes gift cards are the perfect thing to give somebody, but you're going to spend more on a gift card probably than that photograph of your family. Right. And I'm not sure it's going to have the same meaning that you're ultimately trying to get of saying something special during the holidays. Well, the thing about people who are thoughtful is, um, they give thought it's, you know, it's time can it's, it's in forward thinking.

18:55 It's a give me, it's not just a, well, I got to run out and fulfill an obligation. I go get something. It's deliberate. It's thoughtful. It's what's a good fit for that person. My wife is so much better than I am at this, but you know, she's creative and thoughtful. And I, you know, how do you come up with that? How do you, but it's partly paying attention, partly listening. I think she's, you know, pays attention to what's going on and in a way that then says, Oh, you know, I think they'd enjoy, you know, that kind of thing. Another example that I've seen personally in my family, if, if you have a specific interest, if your loved one has, or a friend has a specific interest and you buy them a book about that subject, you know, a real book, a hardcover.

19:41 Yeah, a real book. Yeah. Old fashioned. Yeah. And you can go to your local bookstore to do that as well. And that's very helpful to find help you find something that meets the subject. But it goes along with what you're saying about your wife's how she approaches it. If if you have a World War Two buff or a Civil War buff or a cooking person, you know, you can just pick a special book and write a nice inscription inside of it and What a thoughtful gift for ten or twenty dollars. It's a great idea, Jeff. Yeah. So I know this isn't the Christmas gift. You know what I mean? Maybe that's an episode we should be coming up with. Gift ideas. How do you come up with good gift ideas?

20:23 anyway but it's just pausing thinking about it and thinking about the options and you know far beyond our expertise which is limited there's so many resources out there if you were to google um you know inexpensive personal gift suggestions for the holidays you'd come up with more than we're going to come up with yeah right yeah yeah well um so you know when we think about this time of year we've got black friday today And Small Business Saturday. And then is there anything on Sunday or is it just go to Cyber Monday? No, I think they're still hoping to go to church on Sunday and watch football.

21:08 And then we get to Giving Tuesday. Why don't we talk a little bit about that as well? Because, you know, this is also a time of year when a lot of charitable organizations organizations really find they have a surge in their revenue that defines their next year's budget. And most of, you know, a lot of people think about charitable giving, you know, historically it's because they, you know, we'd be thinking about deductions and things like that. But as we get closer to year end, we tend to be like, oh, well, there's a few things I wanted to get in before the year's over. And sometimes I was motivated by taxation these days, probably less so because, you know, keep in mind that with the standard deduction being as high as it is, there's less of a likelihood that you're going to have itemized deductions now.

22:03 This is something we've talked about in the past, Jeff, the idea of bundling. And maybe you want to just take a minute to explain what that's all about, that idea of why people might want to consider doing that. I think it's like almost ninety percent of the people who file their income taxes are now taking the standard deduction. It's since the standard deduction amount went up quite a bit and they limited the caps on certain other types of deductions like SALT, so state and local income taxes taxing SALT as much. But yeah, who knows what's coming? But so less people are itemizing thus charitable donations at night.

22:44 deductible but sometimes you have the ability to if you do something regularly or even a one-time gift you can bundle all that together and give it all at once and over the say you're giving gifts over the next three years to this institution well if you bundle those three into one year you'll probably start to think about all right am I going to exceed my standard deduction and thus be able to deduct from that approach of doing an itemized deduction as opposed to the standard deduction. And it might be in a year that you had some large number of medical bills, which normally you wouldn't deduct, or maybe it was a year, you know, that a bit, a business situation, an off year from income maybe or something.

23:33 So you can be, you can be a bit tactical with your deductions if you do plan them. So these are all things to give thought to when it comes to, you know, planning. But, you know, similarly, you can think about other types of gift scenarios when you're thinking about charitable giving. Donor-advised funds are something we talk about this time of year. Candidly, we don't have a lot of clients who have made use of donor-advised funds, but I love donor-advised funds as a tool. These are essentially an opportunity where you want to plan for some tax benefit. You're going to make that charitable gift into a fund.

24:19 Oftentimes, it comes about as a consequence though of someone's had a loss or There's a reason you're inspired to kind of raise funds for a purpose. And it could be more than one purpose or more than one donation. Absolutely. Right. And so the idea that you're going to set money aside, get the charitable treatment of it, get a deduction in the year you're giving it. And whether it's cash, whether it's securities that have appreciated, et cetera, there's a variety of possibilities, but you might put that money into this donor advised fund. And then later on, whether it's next year, whether it's every year, whether it's after several years of it, invested in accumulating and growing in a tax sheltered environment, which is this tax, this nonprofit entity that is an owner advised fund that's at a foundation of some type.

25:19 then you can dole out those funds as desired to nonprofit organizations. As you said, Jeff, doesn't have to be one organization, could be many, can be something that changes over time. I love it when families gather. They've set up this kind of a fund and said, all right, now this year we're going to make a distribution. What should we do? And have some family consideration of what do we care about? What's important to us? Maybe it's different things to different people and you take turns on who gets to decide or whatever it is. But there can be some collaborative effort. deliberation and the idea I think in that instance that I love so much about it is it's setting values in place and saying we value charitable giving to the extent that we've created this fund.

26:13 And as a family, we're going to continue this practice now and into the future. And, you know, help us. And, you know, I think as a parent that can instill a certain clarity of values that not only you might talk about, but now it's in behavior. Yeah, I love that idea. And including the children of any age, you know, as long as I have viewed this like a board meeting. Yeah. A family. And you're still the guy who wrote the guy or gal who wrote the check, still the chairman of the board. Right. But you might have no authority, huh? Right. Yeah, you might. That's funny. I think it's part of that notion of you want engagement.

26:56 And if, you know, if this is the ultimately you're trying to say, what do we value? What's our, you know, and, you know, let's face it. There aren't families don't always have uniformity in their views on a variety of things. So how you resolve that is up to you, whether it's, well, it's your turn or let's try to come something we all agree on. You know, there's there's different ways to approach it. Right. But ultimately, I think it's setting the stage for the idea that giving back to our community in one form or another is a value. And we've we've set up this fund with that in mind and let's all do it together.

27:39 You know, I really love that. So that's one possibility this time of year. As the end of the year approaches, people who have required minimum distributions from their IRA accounts or if they also have a charitable intent, right? Yeah. Qualified charitable distributions are really catching on. as a tool that people who are, as it turns out, it's even before you have distribution requirements now. So it used to be seven and a half was when those RMDs started.

28:23 well you can still use this technique of taking ira money that's pre-tax money and giving it to a charitable intent your church your charity your non-profit of one type or another and make a donation from your ira directly it comes out it's no tax to you it goes to the non-profit they don't pay a tax everybody benefits now when you're seventy three and older it will count toward your required distribution. So if you have a five thousand dollar distribution, a fifty thousand dollar distribution, whatever that number is, if you want to take a thousand dollars just or, you know, ten thousand dollars, whatever the number is, you could take a chunk of that.

29:11 And instead of taking it out to have to spend it or pay tax on it, and then have to then choose to give it to something. So you don't have that income tax event. You can do what's called qualified charitable distribution. There's a form with your IRA custodian and they will send the funds directly to the nonprofit, avoiding the income tax, but counting toward your five or fifty or whatever your number is for a distribution requirement. And it will reduce the amount you have to do. Now, there is a cap on how much you can do in a given year for a qualified charitable distribution. QCD is how, you know, it's abbreviated.

29:53 But most people won't have to worry about that cap. It's a hundred thousand dollars in a given year, you know. God bless. If you can do that, that's awesome. But for most people, it's a way to get money to a cause they care about in a wonderfully tax-efficient way without having to incur income tax themselves and perhaps reduce what they have to take out from their distributions in a given year. It's generally best to try to think about these qualified charitable distributions early in the year so that you know when it comes to your own required distributions.

30:33 You don't have as much that you have to take out. So try to do that in the first half of the year if you can. But there's still time, but you're running out of time. You know, it's... it's a it's a race now to the finish as we run through the rest of the year and brokerage firms and the like custodians will be inundated with distribution requests at this time of year and you know hustle up it's time so yeah after a certain date which isn't far away from now they won't guarantee that they'll be able to do it exactly and we you don't want to be in that position When it comes to charitable giving, just going through a couple of other things, Jeff, you know, sometimes people think about monthly gifts, you know, just a monthly deposit, monthly withdrawal, you know, going to their charitable intentions.

31:26 Yeah. Yeah, it gives them predictability. It's not the most tax desirable way to do things might be better to gift through a qualified charitable distribution or gift of appreciated assets, you know, a mutual fund or a stock or something that's gone up in value significantly. Um, these are things that can be preferable from a tax planning point of view, but, um, any of these are appealing. Um, another thing that seems to be kind of popular that is, um, generally with a specific, um, nonprofit are, uh, charitable gift annuities.

32:07 And, uh, maybe we can talk about, it's essentially a, uh, a, a low budget equivalent to a, to a, um, a charitable remainder trust, or sometimes called a capital gains avoidance trust. So the idea of these kinds of entities is we can take an appreciated asset, put it into this kind of either a gift annuity or a trust like this, and have it eventually go to the charitable intention But in the meantime, I can get an income for life or me and my wife or me and my kid or whatever it might be.

32:50 You can arrange for this cash flow to be essentially annuitized over your lifetime. And then what the remainderment is goes to the charitable intention. It's not a bad way to go. It is a gift. Yeah, it's true. But at the same time, in some cases, it's also cash flow. There are other types that are much less frequently used where people can use what's called a charitable lead trust. Essentially, they're going to take a chunk of that money, whether it's an appreciated asset or whatever it is, and put it into that trust.

33:32 And instead of them receiving cash flow and the charity getting the money at the end, it's kind of the opposite. The charity gets income from it over their lifetime, but the remainder goes on to their heirs. So in any case, all kinds of creative ways you can do some things. Most people, it's just this time of year, I got a few checks I want to write. But you know what? It's a time to step back. Again, let's be deliberate. Jeff, I'm giving you a hard time earlier, but this is the reality. This is something that a little bit of forethought, you can really have impact with your charitable giving.

34:13 And be intentional about where do you want it to go, how much, how does it affect your plan, and are there great ways that you can not only do good, but you can get some benefit out of this, whether it's tax planning or whatever. There's a lot of opportunities that can be a lot of fun as a planner to be thinking through how can we plan for this in a way that maximizes the benefits of what you might want to do anyway. That's right. That's right. But the key part of all that is to make sure that it's part of your financial plan. I think sometimes when people retire and they get into their routine and they're doing fine, the cash flows are fine, and they start thinking about their legacy and gifting.

34:58 And maybe it's really common that parents or grandparents want to give gifts of cash while they're alive. And Christmas is a perfect time to write those checks. hopefully you're working with a fiduciary, a financial planner, someone that can model that out because there is a tendency of many generous people, God bless them, but there's a tendency for them to give too much too early and it can have a detrimental effect on their success of their long-term plan, or maybe not having, maybe the plan looks good, but they haven't adequately done the what ifs, you know, what if this happens? What if one spouse predeceases the other one at an early age, or there's a long-term care event, or there's some, some need that they didn't project or ask what if this happens in their financial plan and they're giving out money that they ended up actually needing to maintain their quality of life.

35:56 So. yeah just throwing a little sound effect there that's how that's how I would feel if I was someone I was advising if they you know and often these gifts are you know they're just given for all the right reasons out of love and wanting to see your money used and appreciated while you're alive but just be cautious Yeah, we say this, and we've said it a lot, I know, but the reason we say this is because we've seen it on both sides. Because we've seen it a lot. Yeah, where, I mean, sometimes it's a great thing to do, and there is a lot of merit to the idea of saying, I want to give this while I'm alive to see them enjoy it.

36:41 And I want it while it'll make a difference. They're out of time. It'll have impact all these good reasons. Right. Um, and, and that's valid, uh, at the same time, we've seen it before where, um, people are so generous. They're generous to a fault of the point that they find themselves, um, unable to meet their own financial needs later in life and uh they can be strained for their cash flows or god forbid like you're talking about if there's even you know a long-term care kind of a need at home in an institution whatever it is that their choices become more limited they just don't have the resources that they might have otherwise had And, you know, our objective as planners for our clientele is we want to make sure that you're okay first and foremost.

37:36 And that, you know, yes, we want there to be abundance and money to go to the next generation. We had a conversation like this just yesterday. Russ and I were talking about this notion about with a client that, Um, well, first things first want to make sure you're okay. And they were like, yeah, you know, we've done right by our kids along the way. They're all going to be fine if there's money left over. Great. Let's make sure that we plan for our needs and if there's ample resources, well, that'll be wonderful for them. And we'll be less worried about the tax planning for them as we are about making sure what's right for us.

38:21 And I think sometimes people have a much more generous intention But they don't always do that for themselves. That spirit of generosity just overtakes their decision-making. And like I said, for all the right reasons, but just be cautious, call your financial advisor, model it out, and it'll either raise a red flag that you might want to reconsider or give you full permission. There's the word. to not worry about it and still be able to do it.

39:02 Well, um, that's, that's terrific. Um, and as we, um, wrap up, we'll just invite everyone. If you have need for help in this regard, a little bit of financial planning can go a long way. Um, it's, it's a tight, uh, end of year with, uh, appointments, but we'd be happy to try to be a resource to you. You can connect with us at, uh, uh, five Oh eight, seven, seven, one, eight, nine hundred. Or as I mentioned, uh, You can send us an email at amr-info at wealthenhancement.com. With that, guys, thanks for another great show. Until next time, everybody, keep striving for something more.

39:46 Thank you for listening to Something More with Chris Boyd. Call us for help, whether it's for financial planning or portfolio management, insurance concerns, or those quality of life issues that make the money matters matter. Whatever's on your mind, visit us at somethingmorewithchrisboyd.com or call us toll free at eight, six, six, seven, seven, one, eight, nine, zero one, or send us your questions to amr-info at wealthenhancement.com. You're listening to Something More with Chris Boyd Financial Talk Show. Wealth enhancement advisory services and J. Christopher Boyd provide investment advice on an individual basis to clients only. Proper advice depends on a complete analysis of all facts and circumstances.

40:27 The information given on this program is general financial comments and cannot be relied upon as pertaining to your specific situation. Wealth enhancement group cannot guarantee that using the information from this show will generate profits or ensure freedom from loss. Listeners should consult their own financial advisors or conduct their own due diligence before making any financial decisions.