Episode 55: Long Term Care with Jay Stubbs
Segment 1 (Show Open):
Hello Lower Alabama! Hello Gulf Coast! Welcome in. Welcome to Coasting in Retirement! That’s. Right. Thanks for joining us today, we have another great show coming your way! Josh Null here, Michelle is off this week while she performs as the “Cheerleading Coach” in the cast for the Grease musical being presented at the Theatre on the Bluff in Fairhope, so in her place I’m joined by regular fill-in co-host Jay Stubbs with Providence Partners. Jay, how you doing buddy?
Jay and I are here to discuss financial topics relevant to those of you in or near retirement, living your best life along our part of the Gulf Coast. Here’s what we’ve got in store for you today: First segment – deep dive on our topic of the day. 2nd segment - at about 30 minutes past the hour - “Headlines of the Week”. Then at roughly 50 minutes past the hour, stick around for our 3rd segment, we call it” Josh’s Crystal Ball and Big Mouth”. So buckle up, we’ve got a lot to get to!
Quick background on me for those new to the show. Again, my name is Josh Null, I am a fee-based financial advisor, I hold my FINRA Series 65 securities license, and I am the owner of Gulf Coast Financial Advisors, we are an independent investment management and financial planning firm with offices in Fairhope, Orange Beach, and Mobile! You can find more information on me and the team at Gulf Coast Financial Advisors by visiting our website gulfcoastfa.com, or feel free to give us a call at 251-327-2124. If you missed that contact info, get a pen and pad ready because we will repeat our contact info several times throughout the show!
So, Jay, before we tackle all of the recent and fascinating news headlines in our 2nd segment, I wanted to discuss what is called an “evergreen” topic with you in our show opening – Long Term Care. I’ve been getting a lot of questions about long-term care recently, and as I consider you an expert in this field, I wanted to spend 15 to 20 minutes with you discussing everything a person should know about long-term care insurance and how to financially navigate an extended health care event. Let’s start with this because many listeners have probably never had this type of protection explained in detail to them – how do you define long term care insurance?
Listeners, for those of you that are interested in learning more about how long-term care protection might fit into your comprehensive financial plan, we encourage you to reach out to us. You can call us at 251-327-2124, or find us through our website gulfcoastfa.com. One our site, click on the blue button in the upper right-hand corner to set up a meeting on my calendar. We have several meeting choices for your convenience – it can be as simple as a 15 minute introductory phone call, all the way to an in-person meeting at any of our 3 office locations. You can find GCFA offices in downtown Fairhope, or Orange Beach just down the road from the Wharf, or in Mobile off Dauphin St and I-65. Reach out to us - we would love to meet you!
Alright folks, coming up next - There’s always a lot going on in the world! Particularly the world of finance, investments and money. Every week we scour the internet for financial articles that have important information for those of you in or near retirement. Join us after the break to hear Jay and I discuss this week’s relevant headlines in our “News Headlines of the Week” segment. Stay tuned!
1. Alright Jay, you and I like to introduce our listeners to new websites, especially from sources we trust, so let’s start with a fairly well known site in our biz, Insurance NewsNet. They have a recent article titled “Could America’s long-term care crisis intensify under Trump policy?”. To set the stage – most, if not all, states rely on some level of federal funding for their medical assistance programs, including programs dedicated to long term care. I picked this article because I think it does a good job of stressing that, even in normal times of federal assistance to states, folks should be dedicated significant time and resources to their own long term care planning, and that with the potential of significant cuts in federal funding, planning for an extended health care event becomes even more critical. The article wasn’t too flattering around Medicaid-based long term care facilities. What was your takeaway?
https://insurancenewsnet.com/innarticle/could-americas-long-term-care-crisis-intensify-under-trump-policy
2. Next up, another great website, and while it’s certainly geared towards people in our business, I think it makes a great resource for investors that want to learn more about how our business works, get a peek behind the screen if you will. It’s from well-known blogger Michael Kitces, a financial planner and voluminous producer of industry related content. It’s titled “Why the DOL Fiduciary Rule Won’t Kill Annuities, It Will Make Them Stronger!”. Quick note for those of you that decide to read this article, or anything else Kitces produces – he goes in-depth on whatever topic he is writing about. This article is no exception, but I wanted to include it because it’s gives you and I an opportunity to explain what the DOL Fiduciary Rule is, it’s potential impact on retail investors, and it’s particular impact on annuities, which are often sold in a commission type arrangement. So, Jay, let’s start with a brief history of the DOL fiduciary rule, and go from there:
https://www.kitces.com/blog/why-dol-fiduciary-wont-kill-annuities-it-will-make-them-stronger/#:~:text=Because%20those%20who%20sell%20into,any%20of%20this%20fiduciary%20scrutiny.
3. Let’s keep with our trend of industry facing news sites that we trust and pivot to MarketWatch. They have a fresh off the press article titled “Stock market’s rapid rebound from tariff-inspired rout stuns Wall Street. But there were signs this would happen”. My thoughts on including this article center around the fact that we often discuss “fear-based selling” on this show, and I felt that the past couple of weeks really ratcheted up the chicken-littles of the world when it came to the stock market, whether it’s the gold-IRA guys or even some of the Fixed Index Annuity guys and gals. Now, to be fair, experiencing the amount of volatility we did the past few weeks can certainly be unnerving for investors, BUT, as with most market sell-offs, the amount of histrionics was substantial. While we still don’t know the long term effects of increased tariffs on the stock market, or if any of these tariffs are actually going to go in force, what we do know is that the stock market showed a healthy rebound this week and there was several encouraging economic reports. What’s your thoughts Jay?
https://www.marketwatch.com/story/stock-markets-rapid-rebound-from-tariff-inspired-rout-stuns-wall-street-but-there-were-signs-this-would-happen-ae9b4296
4. Last headline of the day, or more accurately, a resource for those of you listening to visit if you are interested in learning more about long term care insurance. It’s Jay’s website providencepartners.org, the resource tab, specifically the 4 links you have for LTC information: One America Care Solutions Calculator, LTC questionnaire, 6 ways to get LTC and Pre-qualify knockout health issues.
https://www.providencepartners.org/resources
Listeners, I hope you learned something from our discussion around these recent financial headlines, all of this matters to your money! Speaking of money, if you would like to start the conversation with us about your investments and retirement planning, I encourage those of you that want to continue the conversation to pick up the phone and give us a call at 251-327-2124, or click on the blue button in the upper right corner on our website gulfcoastfa.com to either set an introductory phone conversation, or, better yet, an in-person consultation at any of our 3 offices in downtown Fairhope, Orange Beach or Mobile.
Alright folks, coming up next: Josh’s Crystal Ball and Big Mouth. What have been some of my predictions? Have I been right? Was I ever wrong? How wrong? What do I think is going to affect investors in the near future, or maybe the distant future? We talk about all of these things and poke a little fun at my big mouth. Stay tuned!
Segment 3 – Josh’s Crystal Ball and Big Mouth:
Welcome back! Your host Josh Null here, alongside guest co-host Jay Stubbs of Providence Partners. So, I am opinionated, I have strong opinions at times, I would say a radio show host that isn’t probably wouldn’t be very interesting to listen to. And I am paid in my profession to offer professional guidance and opinions to my clients, otherwise what use am I? Just replace me with AI. I like making predictions, and while I usually proved right, there are times I swing and I miss. Want to hear me eat a little crow? Then let’s get at with Josh’s Crystal Ball and Big Mouth.
Listeners, I hoped you enjoyed a little behind the scenes commentary on how Jay and I form our opinions, and that as fathers and husbands, we are human, and we do pay attention to broad world events. We invite you, one last time, if you would like to have a free, no-obligation conversation on the investment choices in your retirement accounts, and to you business owners tuning in and wanting to learn more about succession planning, then give us a call. You can reach us at 251-327-2124, or through our website gulfcoastfa.com. One our site, you can choose to send us a direct message, or you can click on the blue button in the upper right-hand corner to set up a 15-minute introductory phone call on my calendar.
Folks, that is it for this week! I want to give a huge thank you to my guest co-host Jay Stubbs, thank you to our show sponsor, Jay’s business Providence Partners, thank you to our long-time awesome radio station FM Talk 106.5 out of Mobile, and a huge welcome to those of you just tuning in on WHEP 92.5 FM & 1310 AM, many thanks to the provider of our show music, local band Sloth Racer, huge thank to the show producer, my son Payton Null, and as always my sincere appreciation for all of your out there that have been listening and joining us on this journey. We would love to be a part of your journey as well! Until we talk again next week, have a wonderful and productive week. This has been Coasting in Retirement with Josh Null!
GCFA Disclosure:
Gulf Coast Financial Advisors, LLC ("GCFA”) is a registered investment adviser offering advisory services in the State of Alabama and in such other jurisdictions where it is registered, filed the required notices, or is otherwise excluded or exempted from such registration and/or notice filing requirements. Registration does not indicate or imply that GCFA has attained a particular level of skill or ability, nor does it constitute an endorsement of the firm by the Securities and Exchange Commission (SEC) or any state securities regulator.
The Coasting in Retirement radio program serves mainly to disseminate general information including those pertaining to GCFA’s advisory services, together with access to additional investment-related information, publications, materials and links. The publication of this radio show should not be construed by any client and/or prospective client as GCFA’s solicitation to effect, or attempt to effect transactions in securities, nor should it be interpreted as GCFA providing personalized investment advice, or any type of professional advice, for compensation, wherever this program is broadcast. Any subsequent, direct communication by GCFA with a prospective client will be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides.
Certain information, news stories, headlines, data, charts, graphs, figures or statistics presented on this radio program may have been obtained from third-party sources that are believed to be generally reliable but which GCFA may not have independently verified. GCFA does not and cannot guarantee the timeliness, accuracy, or reliability of any such third-party information and undertakes no obligation to update or correct any information that may become obsolete, unreliable, or inaccurate. The radio program also contains the opinions, views, and perspectives expressed by Josh Null and any other GCFA representatives which are solely their own, and do not necessarily reflect the opinions, views, or perspectives of GCFA as a firm. Such personal views and opinions should not be construed as endorsements or professional advice from GCFA. GCFA makes no representation or warranty regarding the accuracy, completeness, or reliability of any information on this radio program, and disclaims any liability for any direct or indirect loss or damage incurred from using or relying on such information.
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