Can Retirement Planning Be Boiled Down to Three Things? | An Odd Difference Between People Who Are Preparing for Retirement and Those in Retirement | The Mistake Over 30% of Retirees Make

People need an income that's guaranteed to them.

If you lose money to taxes,

you're never getting that money back.

You need to get serious about adding some lower risk.

Grease!

I don't like grease!

The thing to be afraid of, honestly,

is the thing that we're not thinking of,

the black swan of that.

Is this tsunami coming?

Come on, bye!

Welcome to Retirement Coffee Talk,

with Sharice Rivers.

Just coffee talk.

There's a lot of noise, a lot of chatter.

If you listen to who you do not listen to,

you have to stay focused.

A fun and informative look at the issues of wealth,

retirement and protecting your life savings.

These advisers out there that were trained to sell, sell, sell

and have all these fees, fee fees,

they don't want to talk, talk, talk about this product

so they make less, less, less money.

And now Retirement Coffee Talk, with Sharice Rivers.

Hello again and welcome to Retirement Coffee Talk,

with Sharice Rivers at ZinniaWealth online,

as always, ZinniaWealth.com.

Why do we have this show?

Well, you're getting close to retirement

or maybe you're even in retirement

and you bring up some questions.

You've got some concerns.

You probably even have some worries

and as Sharice says,

we don't want you wandering the halls at night

worried about money.

So let's give you some good advice here

and if you don't have somebody

that you're talking to on a regular basis

about your retirement,

either preparing for or in retirement,

that's why we want to introduce you to Sharice.

How are you doing today?

Oh, I'm doing fabulous.

It is the season of getting fit for almost summer

and we're still far away,

but we have spring break.

Yes, we do.

Yes, we do.

It's always fun.

We talked to Sharice after holidays

and she talks about how plumpy she is.

And then at this time of the year,

it's time to get back to the swimsuit

and the whole thing.

So yeah, we know all about it.

I like the irony.

I enjoy my November and December,

you know, get started to all mid-January.

All right.

Awesome.

Well, what we do on this show is talk about retirement,

getting ready for retirement,

being in retirement and getting the help that you need.

And we always wonder, you know, what are the steps?

What do I have to do, you know?

And this particular article that I found said,

if you do these three things, you've got it.

This is really the basis of all retirement planning

just knock these three out.

And here they are.

You got to know what's coming in,

what's going out,

and how much did you save?

And I said, yeah,

that sounds good.

Is it really that simple Sharice?

I mean, we'll put you out of a job here.

Well, it's, you know,

it's how we figure out our map here.

It's in your wealth.

But what's coming in?

So let's talk about that.

So we want to take inventory.

So when we say what's coming in,

what are those fixed incomes that we know

are going to show up every month,

because we can count that towards paying

some of those expenses every month.

So we're going to get sole security,

we're going to turn it on now.

We're going to turn it on later.

That's something we'll help you figure out.

Do I have pensions?

Do we not have pensions?

Do we need to create kind of a private pension plan?

So we just want that check.

Do we have cash rents coming in?

There's so many ways that people have income coming in.

We want to dial into what's coming in,

because some people come in Randy.

And for example, one says,

hey, I have a pension,

and I have so security coming in.

And that covers all my bills.

I just need to use my asset that I saved.

My 401k or Roth or brokerage account

to pay for the trips.

So that's one individual.

There's a lot of people come in today,

more than not, actually,

that have sole security checks,

but they don't get the pension,

because their companies didn't offer that.

And they have a bigger asset, typically,

a 401k, a brokerage account,

and Roth.

And now we're having to take a heavy load

off that chunk of money you saved.

So we want to make sure it's not too heavy,

and it matches your income needs.

It matches your expenses and your liability.

So making sure we know it comes in.

And then what's going out?

So do we have a mortgage?

Still on retirement or prepping for retirement here?

Do we have a car payment?

Are we still having the kids in college?

Do we need a teeth done?

Do we need a roof done?

There's so many little things we have to start thinking about,

because I want to know,

what is going on the next five years

that we need to make sure that money is ready?

And if the market goes down,

we can't touch that money.

So if you need a roof,

let's take care of it while you're still working,

or if you're retired,

let's just make sure those dollars are going to be there

for the,

hey, that needs to be done.

If it needs to be done in the next five years.

So really,

what's going to be going out?

You know,

the next one is,

what have you saved?

Right?

So now we're really taking inventory.

What have you saved?

And where did you save it?

Because when it comes to your investment plan,

every stock jock and person in the United States

focuses on that investment plan.

Right?

And they all focus on,

you know, it costs you about what,

one to two percent for your investment plan.

Depending where you go,

Raymond James,

Fisher Investments,

Wells Fargo,

it doesn't matter.

And they're all really good

at that investment plan part.

But they forget that

there's five critical pieces to a retirement plan.

And the second part is truly the income plan.

And so we have to make sure

all those checks are arriving.

So if the market's going down,

you're still getting your checks

if the market's going up,

hey, maybe our checks get a little bit bigger, right?

And we're creating that inflation protected income.

So how much did you save

is a big part of how that investment plan

will work in your withdrawal strategy.

So a lot of people are really concerned about that

withdrawal strategy, Randy.

And so we want to make sure that we're dialing into,

okay, you've saved a million dollars.

Well, there's some math that we have to apply that says,

hey, if you don't want to run out of money,

we get to stay within this threshold

to make sure when it comes to that withdrawal,

especially in our early retirement

and later retirement on that number.

So by the way, if you saved a million

and you need four percent,

you're in line with that withdrawal strategy.

That's $40,000 a cup of maybe your gap or those trips.

So we just want to make sure that we're meeting those needs.

We want to make sure that you're getting what you need in retirement,

especially before you retire.

So some people are listening like, well,

strings haven't retired.

Well, we definitely need to talk about this,

especially if you're going to retire in a year.

If you have assets that we can help you with

in your five, 10 years before retirement,

you know, we can start putting a plan in place

because a lot of people think,

hey, I got this, what I've saved to count on my 401K account

is a plan that's not a plan.

It's just an investment.

So now we've got to start thinking about, you know,

implementing the actual plan.

It goes investment plan and the income plan.

And then thirdly is that tax plan.

Because there's no income plan or investment plan

without the tax plan.

So we want to make sure what is coming in

is enough to cover your fixed assets.

And if it's not plug in some income strategies,

we want to know what's going to be going out

for the next five years or 10 years.

We want to plan for long term care.

And then what did you save?

And where is it?

And what bucket should we be pulling out of first

in that bucket of money or buckets of money you saved?

Well, one of the things about these lists,

and I love going through these lists.

I think they're fun.

But I also maintain it by what's missing

from many of these lists.

And almost always when they say,

here's what to do for retirement

or here's what you're up against in retirement.

Hardly ever do they bring up taxes?

Hardly ever do they bring up long term care

and all the health issues and all those kind of things like that?

So not only is it what's coming in

and what's going out and what did you save it?

What could go wrong?

And that is the whole idea behind a solid retirement plan

is putting in those stopgap measures in case

we have taxes going up.

In case your social security goes down

in case that we have inflation again.

That's what we need for a retirement plan.

And that is what you can sit down and talk through

with Sherees at Zinnia Wealth.

Give her a call.

Give the team a call.

Go to the website.

Let's start there.

ZinniaWealth.com.

Z-I-N-N-I-A Wealth.com.

There's a place there.

It's a gold box.

It says complimentary retirement consultation.

When you click on that, we're going to ask you little information.

Get a date on a calendar.

And let's do the math on your retirement.

What's coming in?

What's going out?

What did you save?

You probably know those numbers.

But do you know the other numbers of what could go wrong

and how to account for that as well?

833-368-368-0 is the number to call

and get a date on a calendar with Sherees

and the team at Zinnia Wealth.

All right.

So this is kind of interesting.

This is a survey from Gallup.

And what they did is they talked to people

who were getting ready for retirement.

And then they talked to people who were in retirement.

And they asked them this question.

The same question everybody wants to know.

Are you going to run out of money?

You're afraid of running out of money.

45% of the people getting ready for retirement

were afraid of running out of money.

75% of the people in retirement said,

I'm going to be just fine.

So what happened?

Well, that's change.

So that's good news.

Yeah.

I guess so.

Those numbers have gone up over the years.

So what's change?

What's going on?

I mean, is this the fear factor of the financial industry?

Always tell you you're going to run out of money.

You're going to run out of money.

And then you get into retirement.

And you go, oh, a lot of that is a lot of noise.

What's going on?

Yeah.

So before we retire,

a lot of people don't know when they should retire.

Because they're so used to this income check.

It's an emotional phase of life.

It's consequential if you don't plan for it.

And then a lot of times people will get into retirement.

And then they're sitting there and taking money out of their buckets.

And they're like,

I feel like it's just drawing down.

Maybe I need to work with a financial advisor.

Maybe you can do this better than myself.

And so what will happen,

they'll go to a advisory firm

and they'll start to get a written plan or income plan,

which we're seeing more of across the country,

which is great news.

And that gives them confidence because then they can see.

But the unfortunate thing is I don't think those people

are actually really getting a real income plan.

So these numbers have really gone up recently, right?

So 45% it used to be higher and then 75%.

And I also think it has something to do with the consensus of the market.

So I think 75% right now,

because the market's going up, up and up.

They feel good.

They feel good.

They feel good.

It's a feel good move.

So yes, the surveys are going to be better

because they're going to their financial advisor.

They're like, hey, I made 16% last year.

I made 20% last year.

I mean, 18% the year before.

And now what's happening?

They're like, yeah, life is good.

And none of these people have retired during the 2007-8

and 2009 crash.

When they're forced to still pull money out of their accounts

so they can survive, right?

And then what happens?

This is why the biggest fear and retirement

is running out of money.

And we're seeing that.

But these younger versions that are starting to retire,

they forgot.

And the markets look so good.

Even the people who are retired now,

they're like, oh, the markets are so good.

We're spending more money, blah, blah, blah.

And I just think that's why the consensus is going up.

Because I really don't think there's a lot of written plans out there.

I think what they're seeing is the investment plan

and you're seeing like the diagram

and blue purple red saying, okay,

we're so diversified in our 6040 portfolio,

large cap, small cap, medium cap, right, bonds,

maybe some commodities.

And so it looks good.

And on paper, the advisors are saying, yeah, look,

we could average 7% over the next 10 years.

But a lot of times, many times,

and I know some of you are hearing me out,

because you've been through this.

You're not seeing that.

It's a little bit of a smoke and mirrors show right now.

So don't let the hype

and chasing this rocket ship get the best of you.

Now you're jumping in, you're all in,

and you're not protecting from the downside.

Because eventually it will happen.

I'm optimistic to the market continuing to go up.

So that's good news.

But eventually you're going to catch the tail of the rocket ship

and you will get burned.

Right.

And so if you get burned, I'm okay with you getting burned.

But if that's the case,

and you're actually living on the money

that this got burned, right?

You ever light a dollar bill on fire, go do it.

See how fast that thing lights up?

Listen, you just have to have another bucket.

A couple buckets for leverage.

So when the market does do this tipsy thing,

because we're on the horizon of a correction,

where you can pull your money from.

Because if it's a correction, it goes down 10%.

You're not allowed to pull money out of your accounts.

Of course you are.

But that's a silly thing to do,

because you've learned your whole life, never sell,

when the markets are going down.

And now your force to sell, when markets go down 10%,

I don't care if your account goes down 10%, 20%, 40%, 50%.

There just needs to be an account for when that happens,

or there's 10%, 20%, 30%, on the downturn,

that you're pulling out from something

that didn't take the loss.

That maybe is still making 3, 4%, 5%

if it's fixing guaranteed, or just didn't take the loss at all.

So we have to think through those phases.

So don't get excited about these surveys,

because next year when the market potentially could be down,

the server is going to say 25%, and 10%,

like we've seen this happen so many times, Randy.

You know, it's something that is weird about this time of our lives,

going into retirement.

When you talk about climbing a mountain,

and you go and you train for that, a period of time,

and you're out walking,

and you're doing all the different things that you do.

You're getting ready for an event, maybe two months from now,

and then that event is over.

So you got prepared for it for two months.

You think about your life, and you prepare for something,

and you're done that event, and it's over with.

Retirement, we prepare for something that's 40 years away.

Literally.

I mean, you start, and they tell you, you got to save,

you got to save, you got to save, and they tell you that in your 20s.

So you go, okay, I'll go to this 401k thing,

and then off it goes.

And for 40 years, you prepare financially.

But now, emotionally, you're stepping into something

that you have never done before.

And that is a time when there is no job,

and there's, you know, you prepare with the money,

it is really emotional.

And I get why people have these emotional swings in retirement.

And I'm sure that you've seen it all the time,

because as the markets go back and forth, as you just said,

then people's emotions go with them, don't they?

So this is what gets people the most.

It's not having control of your money,

because now it's going down,

and you're like, well, I got to pull my 40 grand out,

or my 60,000, maybe it's 25,

and you get emotional.

You're like, how can I keep pulling that money out

if the market's going down?

Oh, I got to stop pulling this money out.

You get emotional.

That's a first phase.

You're like, stop the income, right?

And some of you don't.

And there's where we start to have a problem,

because if it keeps going down two years,

and it takes four or five years to get back to up,

you never get back to even, because you're still pulling money out.

So you kind of have to stop taking the money

if you want to sustain your account.

So you some, something's got to change, whatever it is.

I'm not going to make the rules up until we sit down.

We talk, but the emotions,

and if the market keeps going down,

we get more emotional.

And then we make bad decisions.

So emotions, it's called controlled emotions.

That's something that we've always talked about,

and then making sure that you don't make bad decisions,

because your emotions get the best to you, because it's scary, right?

It's psychological.

Having a plan.

You can keep, yeah.

And if you saw a real written plan,

an income plan in place,

and you saw where the monies were coming from,

the withdrawal strategy,

and you knew some of your money was not losing,

you would have control.

I know you would.

I'll be honest with you.

And you wouldn't make those bad decisions.

So what we've learned from the past,

you go back 20 years.

I mean, I've been in this industry for a long time.

You know, that wasn't always the plan.

Like everything was in the stock market, right?

Or everything was safe.

So there's got to be a happy medium.

And so we've learned from what has happened in the past.

And we don't want people running out of money, right?

We don't want you losing half of your asset

and then having to change your lifestyle

because you're going to make a good decision

or you didn't do your homework.

You didn't have the right financial advisor,

because you also have to have the right financial advisor

in your life that actually understands

the season of life you're entering.

It's not the stock jock season when you're accumulation.

It's a retirement plan that understands decumulation,

where we have to add in some protection,

where we have to still have growth,

protect from inflation, right?

And there's so many moving parts.

So making that decision on top of it,

picking the right advisor is going to be the number one element

when you're retired.

And so good luck on that if you're not listening to my show.

And that is where Sherees has been the whole time.

And we talk about it regularly.

There are different seasons of life

for teachers and education

and all the different things that you do.

It's the same in your financial world

as accumulation is different than decumulation.

And that's what we talk about here on the show.

Give Sherees a call.

Let's sit down and talk through the math of your retirement.

Let's look at what you've saved,

what your expenses are,

and how it all works,

and what you want to do in retirement.

You know, if you're a big traveler,

that's going to add into it as well.

Give her a call.

It is 833-368-3680.

833-368-3680,

or online, zinniowelth.com,

Z-I-N-N-N-I-A-Welth.com.

Gold box there.

It says complimentary retirement consultation.

Click on that.

Follow the prompts.

You'll be on your way.

It's a no-cost, no obligation meeting.

All right.

So we know that many of us, as we've saved in our 401Ks

and our IRAs,

that's where they told us to save.

So we did.

And they also tell us that as 873,

or for some of you age 75,

you're going to have to start tapping into that money

because Uncle Sam wants his taxes.

We all know that.

I hope.

But once it gets to that age 73,

there's a calculation

that needs to be done to tell you

how much money you're supposed to take

out of those IRAs in 401Ks.

And according to this study,

about 24% of people retirees do it wrong,

and 7% of retirees don't do it at all.

That's a real problem.

All right.

So Shreys, have you had to help?

They learn really quick that.

You do it wrong.

You get a big penalty.

Big penalty.

That's right.

So have you had people who come in

and you say, you know,

you need to take RMDs

and they go, what's that?

That's a problem.

Or that they've done it and they've goofed it up

and they got a letter from the IRS

and said, you messed this up.

Have you had this experience?

So a couple of times people have come in

and they've heard our show

and it'd be after the fact

because you have to take your RMD.

When you're 73, you have to take your RMD.

You got to take it by the end of the year

by December 31st.

And some people,

when you're first aging in,

you're might be falling asleep at the wheel

and you don't catch it till you're 74.

You're like, oh, I got this love letter

from the IRS saying, hey, you got a big penalty.

And it used to be 50%.

Now it's 25%.

And if you pay it back in a timely manner,

the penalty is only 10%.

But we don't.

Don't want to do that either.

Uncle Sam anymore money.

No way.

So we don't want to miss the RMD.

And there is a first offender's appeal form.

And most people don't mess it up the second time.

So a lot of people who's going on their own

and managing their own money,

I said, put on autopilot.

Call these companies.

Set it up.

Have your taxes.

What's wrong?

If you want to or don't,

have it come in monthly or just annually.

And I like my clients,

we try to get them all to take it in the summer.

And then a few do take it at the end of the year.

But no later in October,

November 1st.

And just make sure that there's a plan for it

because there is a penalty if you forget to take it.

So the age is 73.

You have to take it.

And if you're born after,

by the way, 1960,

you don't have to take it till 75.

But one thing that I want people to know,

which they don't like,

this is what I teach in one of the little pieces

I teach in our workshop,

is that let's just say you are 73

and you miss it this year.

You actually can take it next year,

but you have to take it before I think it's April 1st.

But then you have to take a second distribution

by the end of the year.

So you have to take two.

So if your income's high

and you're trying to spread out your taxes,

try to not miss it the first year.

So that's one of the key indicators.

But one thing people don't know is that

the RMD percentage you have to take out,

it's a divisor number.

So when you're 73,

it's about 3.65%.

So if you got a million dollars,

you know how to do the math,

figure that out.

And every year that percentage goes up,

3.75, 3.85.

By the time you're in your late 80s,

you are pulling out 8%.

And it keeps going up every year.

So this is something I didn't know years ago.

20 years ago, I didn't know this.

And my client's like,

why didn't you do this 20 years ago, right?

And that was 10 years ago.

We were having those conversations.

And what are being by that?

Is that most people randy?

If you have a million dollar portfolio,

let's say you're 63.

Well, you want that to double, right?

Everybody wants to money to double over 10 years.

That's why it's supposed to work, right?

This is what we've been taught.

That's the way things work.

And it doesn't always happen.

Some people does happen.

So you're 63.

Now you're 73.

Your million dollars is doubled.

Now you're at 2 million.

And let's say this quick math,

we had to take 4% out of that 2 million.

That is $80,000.

You might already have

$120,000 in income from other assets,

pensions, so security, right?

And now you add another 80.

That's 200,000.

So now what we have to worry about is ugly Irma

from Medicare Part B penalties.

So now your Medicare Part B is not the same price as

the other people next door to you.

If you're age 65 and older,

it could be 250, not 185.

It could be up to 650.

Had somebody come in.

There's recently,

and it was $658 a month for that spouse

and the husband, right?

So we want to look out for those things.

But now you're 73.

Nothing changes in your investment horizon.

You still want your advisor to double your money.

So now you're 2 million,

while you're taking your RMVs,

goes to 4 million.

Right?

If that's what happens.

What's the saying?

It just goes to 3 million.

Maybe you become ultra conservative

and we're pulling more money out.

So now we're at 3 million.

And now we're,

we went from 63 to 73.

Now we're 73 to 83.

Taking over 6%.

What is 6% times 3 million, Randy?

That's a bunch.

That's 100,000.

Yeah.

180,000 dollars.

Add it to your $120,000 income.

Or add it to your $60,000 income.

Oh, boy.

You got Irma for the rest of your life.

And this is why the five critical retirement pillars out there,

that's my third one, is tax planning.

Most advisors are during the headlines.

They can't help you tax planning as I go to your CPA.

Hey, go to Zinnia.

We do tax planning.

Your CPAs do not do the tax planning that we do.

They do your bookkeeping.

They do your accounting.

All that kind of stuff.

Sometimes I'll charge you more to do tax plus harvesting.

No, we'll do tax plus harvesting for free.

We'll create your tax plan at no cost.

Because do we want to deal with ugly Irma's rest of our lives?

Especially if you lived in 1995,

some of you out there,

a lot of you have longevity.

Some of you have more longevity than you actually realize, right?

And so not only does that hurt you,

but that hurts your surviving spouse,

because taxes go up higher when somebody passes, right?

You lose income, you lose social security check,

and your taxes go up,

because your standard deduction gets cut to half.

And then when that second spouse passes,

and then it goes to your kids,

they get to deal with the tax bill, right?

And then they got to cash out those higher rates over 10 years.

So RMDs is a big season of life,

and we want to try to work with you before you hit that RMD season.

So we can start figuring out your tax plan.

And if you're in the RMD season,

we still try to help you figure out your tax plan.

It just be a little bit different than the pre-RMD season, age 73.

So if you have IRA, 401K,

403B, 457, TAA, CREF, whatever you got,

that is you.

I'm talking to you. Come see us.

We want to help you with your tax plan.

We want to make sure you get RMDs, right?

And we actually want you to try to pay less taxes in the future

by eliminating some of these RMDs,

because we can eliminate RMDs,

which is awesome.

And I wish I would have done it 20 years ago,

but we started working on it 10 years ago.

So moving forward, that's where we're at.

It is kind of crazy that if you put 100 retirees in a room,

30 or more of them are screwing up their RMDs.

And it needs to be something that if you're not doing it right,

and it begins too much for you,

that's where someone like Cherice can really help out

with that kind of thing.

And it's just one of those things that happens

during the year that you've got to figure out

as you go through your retirement years.

Give Cherice a call with somebody like her in your corner.

And to have somebody to bounce these decisions off

and if something goes haywire in the market

to be able to sit down with somebody and say,

what now?

That's a real, real plus.

833, 368, 368, 0.

Again, 833, 368, 368, 0.

Or use the website, which is zineowelth.com.

Z-I-N-N-I-A-Welth.com.

There's a gold box there.

It says complimentary retirement consultation.

Click on that.

You'll be on your way.

We're going to take a break.

And when we come back,

Chester Webber is going to be our guest.

He is in charge of Live Oak International.

They have a huge event coming up in just a couple of days.

We're going to go through that and tell you how you can attend.

That's all coming up next on Retirement Coffee Talk.

Welcome back once again to Retirement Coffee Talk

with Cherice Rivers at Zineowelth.

As always, zineowelth.com.

Z-I-N-N-I-A-Welth.com.

And one of the things we talk about here on the show is

Cherice is a local advisor.

This is at 1-800-HELP-U with your money.

Cherice is right here.

You'll see her at the grocery store.

You'll see her at the school board meetings.

And you're going to see her at local events around town.

And we like to highlight some of the people that make those kind of events happen.

And Cherice, we have one of those people here today.

Tell me a little bit more.

Oh, yes.

So we have a special guest, dear friend of mine, too.

But today's episode is special because it's not just talking about sports.

It's talking about excellence, discipline, legacy,

and building something world-class right here in our own backyard.

So I'm joined today by someone just over the top,

next level, leader in our community, partner to a Callow Leadership Conference

that we just started, philanthropist,

and the most decorated combined driving athlete in American history.

He is a 14-time U.S. national four-in-hand champion

and has represented the United States on the world stage more times

and most athlete stream of, but beyond the medals,

what makes him most extraordinary is what he's built.

And we're going to hear to talk about the Live Oak International event coming up March 13th to the 15th.

Chester Weber, welcome to the show.

Thank you so much for having me, Cherice.

You are welcome.

Some people are probably like, well, who's Chester?

And what is four-in-hand?

Those are good questions.

Yeah.

Yeah, it is.

So before we talk about the event you're having here,

why don't you kind of just talk about what is that?

Because the first time I heard about it, I knew it was something huge,

but I had never put eyeballs on it.

Sure. So my family's been in Ocala for longer than I've been alive.

My mom bought horse farm during the Cuban Missile Crisis here

when land values were like $100 an acre or something like that.

And we've bred cattle.

We have about 1,000 cows at home and primarily resources.

I'm a little bit too big.

You can't see that from the radio, but most jockeys weigh about 120 pounds soaking wet.

I'm six foot two and around 215 pounds.

So the idea of being a jockey went away a long time ago.

With that said, I got involved in driving horses instead of riding horses.

So that involved a carriage or wagon.

And they originally got involved with driving Clyde still horses.

So if you think about the world famous Budweiser Clyde stales,

that's how it started my driving sort of endeavor.

And sort of followed different driving disciplines till I found the sport

to combine driving, which if you may is sort of the formula one of

carriage driving sports, then 35 years ago now,

a carriage driving club that's in the area, the Florida Whips,

they came out to my family and said, hey, would you consider letting us host

the cross country from a horse event at your property?

And this is my parents at the time said, yeah, of course, you know, that'd be great.

And so that was 35 years ago.

We started as a little teeny local club event and organically have grown into

a event that attracts about 17,000 spectators and competitors from 1617 nations

across two different disciplines, one of combined driving,

and the other one of show jumping with horses.

It's a tournament of sport across four different days,

and is really turned into a not only an incredible horse event

for the horse capital of the world, but also an event for the community.

And you can enjoy horses, but there's also a kid zone sponsored by Advent Health

that has face painting and bounce houses and all the normal kids zone stuff.

And there's also an extensive trade fair where you can shop,

and then we always try to have a little something for everyone,

and we have hospitality for people in the VIP tend from Champagne and Caviar

to, you know, selling Budweiser beer.

Hot dogs.

And hot dogs out of the beer truck, so yeah.

So I went last year, and I bought a nice piece of jewelry there that was not expensive,

and I'm not wearing it today.

It should have worked today.

And so I thought it was lovely, all the different things you could purchase,

whether your indoor horses are not.

So it was a little shopping, and I got to experience a VIP tent,

which I thought was just over the top free food and alcohol,

even though I wasn't drinking, but it was just under the shade.

And you got to watch the Grand Prix part of it and all that.

So I thought that was nice.

And then all their arenas are decorated with sponsors and tailgating.

So it's very family-friendly, and lots of good food.

I also noticed you had a whole dog jumping in the water or thing.

What is that?

Yes.

We've always tried to have other things that sort of, you know,

horse people all have dogs.

You know, there's not a person who has one horse that doesn't have maybe two or three dogs.

So they kind of go together.

There's something called dock dogs, which are, you know, dogs that run out of dock,

and then they jump like if you think about the Olympics of track and field.

They do like a long jump into a water and they measure how far they go.

So there's a local organization that does that.

They take, you know, dogs do something like the Olympic Games.

They run down a dock and then they jump into a pool of water.

The distance which they jump is measured.

And of course the dog that jumps the longest wins.

Super fun for family and kids to watch.

Really fun entertainment and looks like the dogs and people are having good fun.

And of course horse people like that.

And we try and make the event a real day in the country for people to come out and see.

And whether you're a diehard horse enthusiast or just somebody who enjoys looking at horses

or the trade fair or whatever it is.

We have a little something for everyone.

So there's a lot of horse shows to go to and Marion County.

So we have World Equestrian Center.

We have hits.

What makes this one time international event that happens once a year or so different and special?

I think that, you know, we tried to build it all around the tournament of sports.

So it's all about sport at the highest level.

It's governed by the FBI, which is saying international governing body of Olympic course sport.

And all of the sport there is governed at that sort of standard.

So it's all about sport at a super high level.

And it's the only event in North America that showcases bulls carriage driving and show jumping.

So it's unique, at least for this continent, been to many events like that in Europe.

But it's really nice.

People have a variety of different horse sport to watch.

And it's not watching seven hours of the same thing all day.

Yeah. So when I went last year, I was worried about you.

At least the first time I've ever seen you live, there's a water hazard.

I literally got there in time and I went, that looks dangerous, right?

It's more thrilling to watch it because then what they do is you go to this one arena and then you hop.

So this whole entire troupe of people hop over to another arena to watch the next part of it.

And then we go to another.

So we're all walking together. It's really the coolest thing I've ever done.

And on top of that, there's other arenas. It is dangerous.

Like I thought you were going to get hit.

Your horse is going to get hit your team because everything is so close and narrow.

And there was one time I went, oh boy, I was like, if you did one small move, one small move,

who's like, it could knock you out or somebody else, like literally out.

I'm cold.

Definitely hope that does not happen.

I know.

There's no thrills and chills like that.

No, it's kind of.

But, you know, horses have their own mind and they can be, I guess it could be dangerous.

We've tried to make the venue really a fun place for people to be able to watch.

They can, they should be able to follow their, their favorite competitor.

So the track that goes out between the different obstacles is laid out in a little bit of a cloverly pattern.

So literally we try to make it so that somebody can watch their friend with just walking from one to the next.

Really nice combined driving car driving cross country on Saturday morning.

Really fun over bridges and all sorts of different obstacles.

It'd be a little bit like driving your station wagon around the living room with an incredible amount of speed and accuracy.

And horses going kind of different directions and it starts in the morning with youngsters and the single horses.

And then you get into single ponies.

Then you get into all the way up to a pair of horses and then up to the sort of a formula one of it, the four and a forces after setting up event after event and then watching your event.

There's got to be so much involved in setting up such a huge event.

What do you think the hardest thing is, you know, you're not just on horses.

You're behind the scenes a little bit with your team managing this process.

Yeah, so everybody says, ah, it must be so great.

You know, you're going to contest your 23rd US National Championship at home.

And that must be a huge advantage because you know the course and you know what's going on.

And I kind of scratch my head and I'm like, do you realize that there's 17,000 people that are going to show up here today?

And there's traffic issues and different challenges that come out of us every day.

But it's, it's a lot of fun and we have a fantastic team that makes it happen.

There are 150 volunteers with 300 volunteer jobs that I'll produce the Live Oak International.

So competing is a lot of fun.

But there's a lot of other distractions.

And sometimes people are like, well, would you rather compete at home for national championships or would you rather do that somewhere else?

And the reality is sometimes it's easier to go elsewhere and do that because I can just focus on that job.

For example, the second weekend in May, I'm at Royal Windsor Horseshoe in the Windsor Castle just near Heathrow Airport, England.

And I don't have friends or family who live in Windsor.

So I just focus on doing my job, being around my team, enjoying what I have going on there.

And I don't really have any distractions.

Whereas, you know, if somebody's alternator is broken on their pickup truck or something like that, they inevitably ask me, hey, Chester, I need the name of a body shop or this repair company.

So lots of funny distractions when competing at home.

There are some advantages.

The biggest advantage though is the crowd, the crowd, you know, being a hometown guy.

They like you and they're for you.

And that makes it a lot of fun.

When it comes to community, I know you guys are training on your farm, training students there.

Are you also hoping that this also bridges the gap to get more kids involved in horses and the competition itself?

Horses are wonderful teachers for life for all of us because a horse, they don't care where you are, how much money you have or they just take you for what you are, you know, how you are that day to them.

A horse doesn't understand somebody holding a grudge.

So they're great lessons.

And four years ago now, I think it is we committed to adding youths driving the carriage driving population is typically from people who, you know, road horses, they're all life.

And then they think, okay, I'm start driving because I have something wrong with my hip from a back or whatever it is.

And then they're like, wow, I wish I had done this 15 years ago.

So we decided that we would try to showcase a youth division for the driving in an effort to get kids on the biggest stage.

So not unlike if you think about the US open antennas in flushing meadows, they have, you know, you can go there as a, as a junior.

Now you might not be competing in the Arthur Ashe stadium or something like that, you might be on some back court.

But just the exposure to being on that kind of stage with that kind of crowd inspires some people.

And if we can just inspire one more young person who has passion to go out there and do great things and horses, like I said, they're, they're fantastic teachers.

And they take you for exactly who you are that day.

So if after the show, people come to your event and say, I hear you're the horse whisperer, what would you say to that?

I wouldn't talk very quietly.

No, in all seriousness, that was too easy.

I've always wanted to be known since I was a little kid.

I always wanted somebody to say, hey, you know, he's a really good horseman.

And when you talk about horse whispers, I guess we're talking about Buck Brennan or Monty Roberts or Pat Pernelli or those guys all learn from a guy named Ray Hunt.

And but those guys are all really good horsemen and women.

I someday would love for somebody to say, hey, wow, he's a really good horseman.

But I've always thought that that was for later in your career.

And some people kind of tap me and say, that's ridiculous.

You know, you've kind of gotten there.

But I live through sort of a lens in the world of humility.

I hope someday that some of my heroes, the Jim West Brooks of the world and things like that.

I hope that those guys someday will say, hey, you made it here, your horseman now.

But until then, I keep working on my craft and focusing all the all the teeny little details that go into making me as good as I can be at my craft.

And I'll also remind everybody I may be pretty good at doing what I do.

But without a fantastic team of not only horses, but people around me that are able to all yoke together in a synergetic way.

There's no way to be successful.

So we're not getting any younger.

Can you compete forever in this event?

Forever is a long time.

What's your forever look like?

Well, I am in general business that I can assure you of two things.

We're all going to die.

Just don't know where and I don't know when.

I mean, somebody mentioned Lazarus.

I think you died twice.

Really good for the funeral home.

They got to do that twice.

All the humorous.

Can I do this forever?

You know, horses.

It's something that's really interesting about them is experience.

Hours doing it.

Doing horses relating to horses.

Having different experiences are probably like somebody who's a money manager who's been at it for a long time.

You know, if you've seen, you know, if you're right out of college and you just got your MBA and you're like, well, I'm brilliant.

I know this market and you're dealing with somebody who's been a broker or a trader or something like that for decades.

They're like, you know, this market.

But there are other markets and you, you know, if you're going to be really good at your job, you have to be able to deal with many different situations.

So huge advantage to having experience.

So the older you are, the more experienced, theoretically you have and the better you have.

But of course in the cross country, you know, hand-eye coordination speed, things like that are paramount to making it happen.

Therefore, I torture myself every morning.

I go to the gym, I go to Iron Legion and I lift weights and I work out with this guy Ted and he is relentless at torturing me and making me trying to make me do things that, you know, my 20-something-year-old self ought to do.

So I try to be really committed to my own health and wellness. I try to stay really fit.

And I'm hoping that I can continue to continue on to do this.

And maybe someday there'll be a great young guy, maybe one of my kids, so get involved in it or there'll be somebody else around my program that's interested in taking up the reins of it.

And I can have fun just train and horses at home.

Somebody asked me, you know, where's your favorite place to drive?

And I thought it was a really good question.

And in the beginning, I was sort of thinking about, wow, is it this venue in Okken, Germany?

Or it's in Windsor, England, where's my favorite place to drive?

And then I thought, that's probably not my favorite place to drive.

My favorite place to drive is probably at Live Oak stud.

Like on any given morning, as long as it's not raining, it could be foggy.

Nobody can see what you're doing.

And the horse is just going really well.

And there's a, you know, perfect communication between you and the horse.

That's my favorite place to drive.

And yeah, it's the bonus if there's a sun coming up or something like that.

But I really enjoy the fundamental work, the basic stuff to get into it.

And I've thought of a few times that, maybe I should just, you know, get behind some young guy and really turn the reins over to him.

But I'm really competitive as a person.

So then I'm like, you'll know when I try.

I've tried that and I'm like, yeah, I'm, I'm, I'm not ready yet.

Not ready yet. Hey, that's good enough.

Why don't you tell people where they can go to get tickets?

Where's the location, time, date?

Sure. So everything is available at LiveOakInternational.com.

They're on Instagram at LiveOakInternational Facebook, all the normal social media stuff.

You can find us. All the ticketing gets done as well.

You can find all of that stuff online.

And there is a bevy of different opportunities from, you know, a VIP ticket where you can have champagne and caviar and preferred parking to answering questions about handicapped parking and...

Wait a minute. I just got to tell you, you want preferred parking.

It's not like walking far, but I liked preferred parking.

I think what Sherees was referring to as parking is the event goes on on LiveOakStud.

Our family's farm. It's about 4700 acres.

So if you park far away, it could be a long drive.

But, you know, it's like going to a football game.

You know, if you want to have a good parking spot, you're probably going to pay the guy, you know, to park in his backyard for, you know, a couple bucks.

But we try to have a little something for everyone.

If you have little kids you want to wear out, you know, drive to the back corner of the parking area.

And, you know, they'll be worn out by the time they get back to the car.

So this event is, you know, in my opinion, this is not a horse show.

It's an international experience that if you haven't been to it, it's so worth going.

I took my daughter for the first time last year.

She had a funny friends, they're playing in hay and dirt piles also.

And they enjoyed the Clydesdale's and all that kind of stuff.

Chester, is there anything I have not asked you that you would really want to tell the listener before?

Yeah, so some other interesting things.

We have a color guard this year.

One of my, you know, side gigs is I train horses and riders for the US Army involved in a little cemetery in Arlington, Virginia.

So if you're chosen to go to Arlington and given high honors there, you're put to rest with a team of six horses pulling a case on.

And I train all those people here in Ocala.

We have a group of about 15 soldiers here now.

Super worthy stuff, super, a lot of respect for the men and women who do that.

And the cool thing is they're going to do an honor guard every day together with the national anthem.

And if anybody's ever been to Arlington, just super touching or seen the videos of Kennedy's funeral with the Blackjack, the horse with the boots backwards.

So they'll have really nice display of soldiers and horses.

Super interesting thing.

And hey, if you're into dock dogs or face painting or Clyde stales or shopping, they're shopping diamonds.

Everything is available or you just want to come out, watch a horse board at the highest level and have a really nice day in the country under beautiful, magnificent, majestic live oak trees,

it's got a little something for everybody.

Yeah, it's beautiful.

Well, Chester, I always say excellence leaves a trail and you have certainly left one.

If you want to witness the world class competition, experience international sports at its finest and support something that elates Ocala on the global stage.

Mark your calendars March 13th through the 15th.

Get your ticket at live oak international.com.

And I think there is a 15% discount if you put in coffee talk and waiting for Chloe to text me back.

But if you go there, we'll make sure it's ready to rock for you.

Chester, thank you not just for being a champion, but building something that brings the world to our own home town.

Thanks so much.

We'd like to thank Chester Weber for joining us today and informing us on live oak international a great event that's coming up.

As far as tickets go, you can go to live oak international.com and you can click on tickets there.

A one day tickets, $18, $40 tickets, $55 and there are discounts for military veterans and kids.

There's also the VIP tickets that they were talking about with parking and tents and tables.

And you can check out those prices as well.

It's all at live oak international at live oak international.com.

We hope you enjoy the event. We hope you enjoyed the show.

We'll be here next week and we hope you will be too on retirement coffee talk with Sherees Rivers.

This has been Retirement Coffee Talk.

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Call Zineo Wealth at 352-368-3680 or visit us online at ZineoWealth.com.

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