Rob made a guest appearance on The Marc and Mandy Show. Rob and Marc discuss the basics of investing planning.

Guest Interview on the Marc and Mandy Show

 

Marc:

Thanks so much. That was great. Saving and investment can be an overwhelming thing. I’ve asked Rob from CG Wealth Management to come and help us. Rob, how are you?

Rob:

Really good. How are you Marc?

Marc:

Why should we invest? Cause I think a lot of people at home, that’s what they’re asking, right?

Rob:

Yeah. The neat thing about investing is you get the power of compounding on your side, right? So a dollar starts working for you from day one. You know, if you’re 30 or 35 or 25 yeah. If you can get that dollar working for you way earlier, you get that whole power of compounding on your side. It compounds the dividends, the interest they compound and you end up getting more money for you at retirement.

Marc:

And the one thing that people need to understand too is that you don’t have to have millions of dollars in the bank in order to start investing. Right? Because it’s that mentality, I need to have a certain amount before I can start.

Rob:

No, I’d start with the first dollar that you save, in my mind, it should be invested. You should look at some growth funds or in particular some equity funds to make sure you get that money growing for you. You don’t need to wait until you have 50 grand or a hundred grand or a million bucks. Those dollars need to start working for you early

Marc:

Because you want to have those years before retirement. Right?

Rob:

Absolutely. Why are we saving money? Why are you and I saving money? We want to save because there will be a point in our lives where we’re not going to be able to draw income or draw a salary. We get old, right? I mean, you have the gray hair, right? Or maybe I’m in a Home.  And someone needs to pay for that, right? So ideally, you’ve saved, you’ve got retirement funds, you’ve put money aside and you can then draw from them and pay yourself in your retirement years.

Marc:

Talk about the process because I find that what’s great about you is the fact that you actually customize depending on the person.

Rob:

Yeah. I built my business around custom holistic wealth advice. There’s kind of two parts. One is the actual portfolio management, that’s me, my passion building portfolios, what I studied my whole life to do, Portfolio theory, Risk adjusted returns and it’s the custom-ness of the advice.  Holistic wealth advice, I want to walk a mile in your shoes, Mark. I want to know what makes you tick but I need to make sure, are we saving for the kids? Or, the retirement fund? What are we doing with respect to your personal situation? And it becomes a custom piece of wealth advice.

Marc:

Talk to me about a child’s education because I think that’s a lot on people’s minds, right? The ones that have kids. I have two kids and it’s something that keeps coming up, what’s your advice?

Rob:

The neat thing with our country is you get a bonus that the government will chip in some money for you if you contribute to an education plan, you get those dollars, you get to contribute, they throw in some money. You get your money working for you, you get the government’s money working for you. Then you get the compound that much earlier. You do have like in theory, 18 years to save, right? For the kids. Get started early, I would say.

Marc:

Perfect. And what about retirement? Talk to me about retirement.

Rob:

Yeah, retirement is a critical one because you want to make sure that the investments that you have now are, are going to be tax efficient. They’re going to grow and then when you’re drawing down on them, you’re optimizing your tax situation at retirement. So this is a holistic wealth plan. We want to look at cashflow now as well as cashflow in retirement. Where are we going to draw the funds from in retirement? Are we taking it from this account or that account? Saving for retirement and optimizing your wealth for retirement is not a simple thing and one of the many reasons people reach out to us.

Marc:

Perfect. Well, thanks so much, Rob, guys, for more information, you can visit marcandmandy.com