Reiter RIght 02.04.18 Seg 1.mp3

Retire Right with Alan Becker
Sunday, February 4th

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

This these three tire right with Allan Becker. And the retirement fuse network's Megyn most active. Allah is the president and CEO what the retirement solutions group. With more than eighteen years of financial experience Alan and his team will help preserve and maintain his client's way of life. And the legacy they leave behind. This is retire right with Allan Becker on the retirement news network. I its mega NASDAQ from retirement news network joined by Alan backer of retirement solutions group. You can reach out to Allen and a great team met RST by calling today here's the phone number. 91368594. Or 22 of you have money questions their retirement questions for Alan. Make sure you dialed today 91368594. TU TO and I'm sure you're listening to our show today you thought a lot of that retirement. And that means you've probably heard a lot of information about annuities now some of the type. So it is just half truth it's that really is good genuine information. But few retirement related subjects are is controversial. Or more polarizing. Than annuities they really can't help people. They can be a tremendous benefit in the right situations. But times they're not suitable for everyone so Allen a lot of talk about this why do you think annuities Cobb high is such an emotional worries. On her people. Meg and he is so polarizing. And I appreciate our listeners and I and I am hoping there they're listening intently on today's show. Because annuities are they're like the miss understood financial product and they have a lot of value and when we're talking about annuities that definition is a guaranteed income you cannot live but there's a securities version. And there's an insurance version and a lot of times you're working with a financial professional or person or an insurance agent. That only either sells that product or doesn't sell that product and just think about I'm saying if somebody doesn't offer a certain product they're probably tell you it's no the collegial Ford dealer asked version by chevys provost and now so you gotta know who you're talking to what they offers same thing if you go to an investment advisor that is not allowed to do because of their broker dealer relationship offer annuities or maybe they'll these variable products are not fixed they're gonna tell you those are bad inherently without giving you reason so here retirement solutions group. Where of the mindset that you need to work with somebody who is both licensed and securities. And insurance for several reasons one is protection when we think about our assets we think about money. It's a real simple thought process to say our money is something I need to take care of my necessities. Well let's go a little further what are your necessities we're talking about food clothing. Utilities the life blood it is to keep you go into retirement or pre retirement. Well we also use money to cover our luxuries. The things that give us relief stress free you know vacations. And things of that so our our once as well as our needs maybe we wanna get a new technology this that and and we don't lesser need a bigger TV but we want one. So it gives us that ability and it also gives us the ability to impact others through our churches or charities are children's and being able to either donate our time because we have the money are ready to do things or donate our money. Because we don't have the time and we wanna help somebody some money has a lot of impact for people it's what that money does and who if impacts. That's important could be yourself could be the spouse that you leave behind it can be begin your church children and Gerri see you need to make sure that your good Steward of your money. So it comes to annuities they're just a vehicle they're tool to help you get to enter retirement one that is designed in essence to cover of one of the biggest concerns are retirees have which is the idea of running out of money so if you can get a guaranteed income stream that could assist you so you don't run out of money I can have a lot of value right. Absolutely it can okay said nice overview on annuities that day and sometimes you know the bad if it's not the right situation we know. That there are a ton of misconceptions out there about annuities why do you think. There at the source is so much confusion. For so many people Allen go and what we're just talking about Megan a lot of people if they don't offer a product and tell you to stay away from it my first. Advice for today it would be if somebody gives you absolutely annuities are bat go away from that advisor firm person except your because. They're not giving a reason they're just saying their bat and no product is inherently bad there are bad uses without tools and vehicles. Mean if all you need is a hammer. But you don't have one you have a fork. Well that's probably not gonna work too well so you need to make sure he's the right tool for the right job so we have fixed annuities fixed annuities operate a lot like certificates of deposits there's just with insurance companies. And they do have a guarantee association backing them up to 250000 dollars but the idea other fixed annuity is. You're gonna get 2% in interest for the next three years no more no less it's just gonna pay 2%. And then at the end of that two years or three years or five years or whatever the period of time you you purchase that multi year guaranteed annuity. You're going to be over them either renew its war you know take it do something else with it so it operates very much like a certificate of deposit. Typically they're paying a little bit higher interest then the S certificate of deposit. But that is one way to ease and unity and the other is a single premium immediate annuity not a big fan of these some people love them. The concept is you give a chunk of money. To an insurance company in May. Chop it up and give it back to you for. Period of time could be ten years to address your life you choose it's it's how most pensions operate. The downside is. You typically lose control of feed the asset you just get the income stream that's where a lot of people like myself fall short as I wanna maintain control. How the asset performs if possible. And then there's also variable annuities that are securities products so they do have risk involved. The one that I gravitate most towards is an index due in an index annuity. Gives you the ability to have. Portion of the upset of the market. What you eliminate the downside of the market so your money's not actually in the market which is based on an index could be any number of indexes out there so as you're listening today show maybe you've. Looked at and duties in the past maybe year for some reason you should ask yourself what that reason as there are just totally against the idea of looking at immunity. Or maybe you RD only one. No matter what direction your coming from. It's probably time to have somebody sit out and go over the current annuities are out there what's available to see if it's something that you should be constrained your retirement. And that is one of the avenues that we look at when conducting our roundtable retirement review so for the first ten collars on today show. We want to assist you with a no cost no obligation consultation where we're gonna. Help you through our proprietary roundtable retiree you were going to help build your retirement castle where you're the king and queen of your castle. And we just help with the advisory for that. In that includes income planning investment planning tax efficiency. And health care so that we can take in this issue. In transferring your assets. To your legacy in the most rational way possible and that all happens with a phone call to 913685942. To begin 9136859422. Calls today so weekend. Hope you. Get to enter retirement nine when 3659422. And Allen has a great website I wanna direct you there as well simply go to retire right Casey dad come. That's retire right Casey dot com why are they or don't forget to check out information about his dinner seminars you can get registered. They did fill up quickly so make sure you check that out today go to retire right TC. Dot com and today we're going over scenarios that went and he knew he might make the most sense for you and Alan we know every single situation is different but generally speaking when might an annuity be a great solution. Keeping the right type in the noting Megyn than an annuity may be a great solution. If you're number one fear is running out of money worth your ACD. Tech investors somebody whose conservative the idea of an annuity is on a risk table. Meaning a hundred being extremely risky and volatile and one being no risk at all they fixed or fixed index annuity is a one there is no risk to principal. Thanks a lot of people look at a new reason misunderstand them and think that. Oh it's a liquidity issue and if I put my money in the new media can't get to it on here to tell our listeners that if we're looking at. For example and hire ray and you wanna put that fire inside the annuity. Your money in the Harry's not liquidity really haven't paid taxes on up and those taxes are going to be do a 100% it's. It comes out as ordinary income so positioning a higher re at 401K or some sort of tax deferred account inside the ability. Well that adds a lot of value because it can take your requirement distributions over the age of seventy. And help you have that systematically coming deal if you're world summit who wants retiree placed in can he can give you that systematic income systematic screening monthly quarterly semi annually annually. Those checks are coming in like clockwork for the rest of your life and your spouse is less so in essence it can help eliminates. The number one fear retirees which is running out of money. Now I'm not saying you put all of your assets and an annuity that would not be the very fit you share your approach today he need to have liquidity but. Sitting down once summit in going through a complete cleaning process and figuring out which dollars or an apple for what reason and if you're one of those assists may know the income that I need for my necessities. That petition in Kenya need for your your wives should be coming in every month for the rest of your life but I guarantee bassist. That's the person or persons that would potentially look at annuity to give them that added comfort in retirement. And that's where we look at utilizing annuities inside someone's portfolio you can do that without abilities but she can't do it where you can guarantee you income I mean if you're gonna use securities based portfolios. We do that here and that's fantastic. And you've got to look at the reoccur revenue that that portfolios producing but you have to be open to corrections in the market. Markets go down annuities fixed and fixed index to clarify. The worst you can ever do is zero so he's your return in a negative market is actually a good thing. So how nature and that your client understands their financial picture and they are there really having a firm grasp on how much income they're gonna need in retirement Alan. We'll make and that's where we're gonna take and help them and assist them through our rounds of retirement process our proprietary. Program that we've put together to give people a written document a written plan to help them to enter retirement. And that's gonna consist of looking at budget analysis to figure out how much money that you plan on spending you retirement. Figuring out the bucket list and the purpose of those dollars it is our belief here retirement solutions group is money ultimately only has two purposes you're either gonna spend it. So what he'll spend enough. And second you're going to give it away so who you gonna give it to. And we wanna maximize both of those two areas to make sure you can do what you want for the rest your life. What I see too often we solace a lot in 2008. Or people that we're just trying to following others and when the corrections happened that they had to make choices. That may not have been line with the masses and may have stayed back at work go back to work. You know it not retiring when they want to cutting out vacations. Just not living that retirement that. The plan done because of something outside their control utilizing an annuity on the income piece of retirement. Is a very Smart thing to do if you are OK with the idea of consistent income Dresser like and eliminating the downside. Well a lot of people in retirement they want less risk and they're OK with that. I find a lot of advisors out there like to dilute portfolios with bonds. And you know for thirty years we had a fairly decent bond market that's over we do not have that bull market going anymore so. And a nudie. Even then that especially now is a much better solution to help people get the ups of the market with out any risk without any downside and it's just you know it's kind of an all weather alternative to is to get through the the bad times in the market here retirement solutions true we've put together our proprietary roundtable retirement process to help give you a blueprint a document to follow as you go to into retirement. I've always learned from my parents from my experience that you need to in expect what you expect. And the best way to do that is to have the numbers to look at what you've created all your life and figure out what you're gonna poll from where at what time based on tax efficiency based on the income you need so that you don't run out of money that is the basis behind the roundtable retirement process. So I would hope that you would call us at 9136859422. So you can find out the solutions to take care of your family so you don't run out of money in retirement see you know where you're gonna get that next check and how it's gonna come in for the rest of your life that's why we've created the around to every time our process and we know that it will help your family if you take the time to look into it so please call us today at 913685. 9422. That's 913. 6594. When he took. Why it is so many people buy annuities patty you know if an annuity might work in your plan Alan explain telling duties can help solidify and shaky retirement income picture up next. This is retire right without linebacker on the retirement. News network. Retirement is all of decisions decisions you need to make before you actually retire when she you take Social Security. Are you too heavily invested in the market. Have you saint did not join the team from retirement solutions group and RSD investments as they lead a discussion about these factors and more. All out retirement solutions group treats you to a complimentary dinner at quarter to solely in Overland Park. You think it takes 6 PM on Tuesday February 6 or Thursday February 8 at quarter to civil in Overland Park reservations are required so call 9136859422. To reserve your seat today it's 91368598. Or 22. Seating is limited so call now to learn more about these events and how you can attend. Retirement solutions group 9136859422. Or online at retiring PC dot com investment advisory services offered through eighteen wealth management LLC HE wealth management retirement solutions group and are risky investments are not affiliated companies. This is retire right wing the Alan Ackerman on the retirement. News network. Hello it's mega NASDAQ and the retirement news network always of. Pleasure to be here with Alan backer of retirement solutions group and he can help you build the retirement you always envision for yourself call today 91368594. Or twenty TU. That's 91368594. TU TU. If you had a projected income shortfall in your retirement planner media just simply worried about out living your assets so many people are you might be weighing today whether an annuity is the right way to help make up that difference so we're exploring that some of the scenarios where any new he really might make the most sense Allan give me an example of someone who might be able to incorporated nudity and their overall strategy. Afterwards. One years in this industry may and I found and a lot of people it less and less risky the older they get on me man that is you don't see as many sixty in seven year old bungee jump and as you do twenty girls typically the retiree year those that are getting greater retire ten to go to bed a little earlier give up a little earlier the little more. Responsible fiscally responsible as well. So we find that as we get older and that risk tolerance starts to come down a little bit that people are open to having some safety being conservative with a portion of their assets some people. That percentage that there will links there to be safer with might be smaller than others some people it's a move much larger number. Everybody's unique and individual it comes in their own planning so here retirement solutions your we have a conversation with somebody we figure out what their tolerance says. And that's how we guide them so if you are more on the conservative side and annuity could be a great vehicle to help with the consistency of your income as well as give you some growth. Without any risk. These are not. Our parents annuities these annuities today. Have some great. Indexing strategies that are involved and let me give me some examples we're used to looking and annuities and being told that we're gonna give up a lot of the upside which is one of the reasons people shy away from. It when I'm referring to is that maybe you have a 3% cap or 5% cap. What that means is that might be the highest amount of interest you can achieve much in that vehicle well that doesn't sound real exciting if you're limited to say 3% or 5%. But a lot of those annuities and and it's some of them more than others if you have a lower interest rates cap. That would be the beneficiaries money potentially you might have a much higher benefit for income. There's an duties out there for income purposes that roll up around 7%. Now when I say 7% that. We'll perk up a lot of people's ears because I allow we can get extension should or 7% the caveat here is that four in camp. So the new lease can be confusing you have to understand that. So if somebody is wanting to have a good income stream and we would use an annuity to give them that peace of mind that income stream. Now other indexing caps might be. Ones that'll pay 2% per month now you have to be more consistent on that type of a nearly where it has to be for the whole year. The up up up but we've we've had several years like that now so let's think about 2%. Pints twelfth that gives you the potential inside than a million to make 24%. In the year is that really that limiting well if you've seen an annuity. Produce 171820%. Return which I have it makes you realize that you can get the growth he won a retirement without the risk of some of these have. Bonuses some of these have. Writers on com that can give view additional benefits like long term care so a lot of great features inside these annuities and I've seen people that would not qualify for long term care for diseases disorders. Medical conditions physical conditions. That are able to get a long term care benefits. Through either annuity because there's no health questions so lots of reasons to look at annuities. It's now sell it Allen when people are looking at their portfolio what types of financial objectives DEC that they have with their own portfolios what are they really trying to accomplish here. On everybody's a little unique but at the end of today they're not they're trying to get growth and they're trying not to run out of money but that's. Where the art comes in because they want to do that. Which is why being a good Steward of the money within their own tolerance so don't be comfortable you know we don't polished wanna go up to the local big. Financial planning firm that's on every street corner by the same name. And just follow that path because that's where else is doing a lot of us we want that individual play and we want to summit this analysis and address. All the areas so we know what we're gonna do about health insurance and a long term care coverage. What we're doing about taxes. So it's not just about the return on investment it's it's also about the reliability of income and we find that that is that you meaning a borrower and the gold here. That's why I wrote a book with exactly that title because what I'm trying to help people understand is there are a lot of ways to keep you from. The starting point to the finishing point and they don't always involve risk. So when we're talking an investment some people want the bond portfolio some people want on the bonds somebody will some people wanna own. The TFs. Or that mutual funds or the bond portfolios others wanna owned companies others wanna own in the mutual funds or or or in a different fashion. Whatever it is that you is the investor wants to look at you need to be working with the fiduciary summit's working for you has your best interest in my. And understands. That money is a tool and it's helping you to take care of your family to take care of your legacy and to take care of yourself which you needs and your wants. And you need to be doing that where you can sleep at night and you understand why you're invested in the way you are. Not just because somebody tells you to do it so. There's a lot of different ways to set up a portfolio there's a lot of different ways to. Kit to the end point. Here retirement solutions are we watching you get to that point in the most comfortable way you want to get their not the way we want you to and hopefully those are somewhat lined up. That's why we created our roundtable retirement process and for the first ten cars on today's show we wanna make sure. That you get from aligned to the calendar that we make time for you. If you're not rated comedy counter looked. People on the phone know that you're ready to go to one of our workshops and you can come and then nice environment. And get your questions answered that way before coming in and saying yes. But the end result we want you to comment. And take part of our round two of retirement processor you have written planned to follow to get you to enter retirement this at no cost no obligation so there's nothing to lose. But a few moments to pick up the phone and get the process started 913. 68594. To 2009 when three. 685942. To do it for yourself to it for your family just do it today 9136859. Before 22. Allen's web site if you haven't visited yet this is a really good resource if you're just starting to think about retirement planning. Go to retire right Casey dot com that's retire right TC dot com. Alan what some unexpected sources of income that we can find in retirement. Well there's several. Unexpected sources a group of income retiree I may one of them being an inheritance is probably though the most common. And sometimes we get bonuses when we're working then. You know sometimes people have a gambling when our lottery winning of some sort of the typical one is inheritance and depending if that inheritance is. Qualified which visa attacks has been paid on that or it's not qualified that kind of depends on how you're gonna use that money have really. I would have a lot of bearing on that for example if the money's coming from and hire ray. You have what's caught a beneficiary. In you now have the obligation to take force distribution off of that hiring at this point going forward it has not into a setting half of lessons from a spouse if it came from anybody else you have. Force distribution no matter what age. And there are few insurance companies that will allow for beneficiaries. To be inside annuities. So that maybe something that you could look at. When we're talking about non qualified funds. And when I mean not qualify you party pay taxes on those dollars when we're talking about non qualified money which are money that you already pay taxes on or your whoever you paired inherited that from as thirty pay tax. There we wanna look at those dollars in figure out where best we've utilized because that money will only be taxed on the games. If you put him inside an annuity that may or may not be the best move because you need to establish your income with your own qualified dollars before he. Using an inheritance because. You still are limiting. Your access to money inside and it. That limitation is usually about 10% a year so we're big on making sure people have an emergency fund have access to. There income streams and what they need and use he knew he is part of the plan one thing we've witnessed way too many times here in Kansas City. These people go to. And a seminar. In this really is a matter how the person's license that they're talking to but that that firm or that person in the firm. Will be giving a presentation. At. They knew it could be a college course it could be at a restaurant but what they're focusing on is the duty of the day so to speak. And they're telling about the great bonuses that provides and so people especially dia wires will go win by the continuity because of some bonus. And then they don't understand what they buy bought. How it's gonna work wider you know how they're gonna utilizing inside their their plan because they actually don't have a plan they just bought product. And we fix that probably more than anything else so I'm I'm I want to tell our listeners very clearly. And in new easy part about overall plan don't purchase it independently or what will happen is you have a product. That you may not know how to utilize appropriately inside. Your portfolio. And annuities can be great solutions they can also be great hindrance is not set up correctly. So Allan how can you make sure your retirement plan is actually tax efficient you know lot of talk about taxes these days. Can an annuity helpless that possibly. Actually tax efficiency is another core area of retirement solutions to put Archie investments. It's something that I'm very passionate about I don't think anybody has to pay more taxes on the law demands taxes are forced extraction not voluntary contributions are tax efficiency is one of the biggest parts of our retirement plan because. Taxes being on sale right now and Mena as when congress says hey we're gonna call the tax plan because it cost money it put a deficit and into the tax plan it can only be in effect for ten years and then there's a sundown law so either we have a situation where. How we get a new president in in. Three more years and they go that the tax code or it runs its course and goes for the full ten years but for right now. For the majority of the American people taxes are on sale right now. And instead annuity its attacks their preferred vehicle have often and it joke old idea which comes first the chicken or the egg we have the same issue with the annuity. Which came first the ire of annuity they operate very similar so don't just put your non qualified money incidentally to avoid taxes. That could oftentimes lock up money that you needed for buying cars going on vacations being more tax efficient. Than just taking after bottom line this is one of those parts of our route to retire process. I encourage you to come and did your questions answered the challenges be skeptical ask those questions we're capable of answering them. And we look forward to the opportunity so for the first ten cars and they show you're gonna get front aligned to our calendar call now 9136859422. That's 9136859422. They are the solution to every problem but there are some common scenarios where and you knew he might be the right thing in a retirement portfolio. We'll explore how would anybody can complement a diversified portfolio which now. You're listening to retire right with the Allen back. I'm the retirement. News networks.