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1460AM Interview With Ike Engelbaum, host of "The Better Side of Aging" (248) 851-5168; or voicemail, (800) 686-3784 Ike Engelbaum: Tell us a little bit about yourself. Dan Casey: I’m an independent investment advisor and I’ve been assisting investors for about 15 years, I teach locally at Macomb College, I’m also a Certified Senior Advisor and I regularly am the presenter at free workshops for seniors on a variety of financial issues in Oakland and Macomb County. I’m president of SeniorPlus, a professional firm designed to assist seniors in protecting their assets and standard of living. We specialize on the needs of those ages 60 or better and their specific financial problems and opportunities. Ike Engelbaum: You say you’re an independent agent. What exactly does that mean? Dan Casey: It means that my broker is independent and does now own any proprietary products so there are no incentives for me to sell anything that is not right for my clients. I’m free to offer any investment or insurance products I feel is right for my clients. Ike Engelbaum: Where is your office located Dan Casey: We’re located in downtown Mt. Clemens but like Marcus Welby was the last doctor to make house calls, I’m the last advisor to do so. I realize that it’s hard for some seniors to get out, especially in the winter months, so I do visit my clients and prospects in their homes if they request it. Ike Engelbaum: I hear you have some pretty big news for my listeners. Would you like to share? Dan Casey: I’m very excited to tell everyone about my new TV show, called Senior Finances that airs on WADL channel 38 It’s a show dedicated to personal finance issues for those retiring or about to retire. Ike Engelbaum: Why did you decide to create the TV show? Dan Casey: I’ve been working with retirees for a long time now and it gets frustrating when you hear the stories of how certain advisors take advantage. I’ll talk to prospects and I’ll them how I believe only certain people need long term care insurance and that surprises them because they just talked to a long term care insurance salesman who is telling them everyone needs it. And not only that everyone needs it but is trying to sell them a policy with all the bells and whistles.  And like I tell my clients, a Rolls Royce and a Chevrolet get you to the same place just as quick but one costs a lot more than the other. So, I wanted a way to get the word out to as many people as possible about these and other issues and of course TV is the best way. Ike Engelbaum: When will the show air? Dan Casey: This Thursday at 9:00 am with the next show slated for May 22 at 9:00 am Ike Engelbaum: What will be the focus of this first show? Dan Casey: The first episode is going to cover all the fees that investors pay in mutual funds. Half of investors don’t even know what their paying and you can easily over pay if your not careful. Then I cover why I feel bond funds do not make sense for retirees. Ike Engelbaum: What will be the focus of the second show? Dan Casey: That show will focus on the phenomenon that I’ve noticed in working with retirees that the older you get the shorter and shorter the time frame of your investments tend to be. For example, continually buying 6 month CDs when, in the past, longer term investments generally tend to pay more and you can make your money last longer by laddering investments so you get access to those higher returns. And I’ll also be talking about long-term care insurance and show some unique ways of getting it. Ike Engelbaum: In your opinion what are some of the top issues seniors are dealing with now. Dan Casey: In my opinion the top issue is disrespect. I think Tom Brokaw had it right – they are the greatest generation. I think we as a society still have a ways to go on that issue. But as far as finance issues go, probably the biggest right now is the low interest rates. They’re great if you want to refinance your home but most retirees have their investments and income in fixed income products. But there are some creative ways around this issue. Ike Engelbaum: What would your recommendations be for those about to retire and their 401ks have dropped significantly in value? Dan Casey: This is hard to address because everyone has their individual cases but in generalf, now may be a good time to have a portfolio check up to see if your diversified and have the right mix of stocks, bonds, and cash. Many people thought they didn’t mind risk when the market was going up but found that when the bubble burst they didn’t like risk anymore. So, its important that your investments not only meet your retirement goals but your emotional goals. Like I tell my clients, with every finance issue there is the finance side and then there is the emotional side. If you can’t sleep at night then it probably makes sense to re-examine your portfolio.   I would like to add that for your listeners, I’ll provide my monthly newsletter free that covers personal finance issues for those age 55 or better.  Just call the office and we'll send them a subscription.