Retire Right 04.09.17 Seg2.mp3

Retire Right with Alan Becker
Sunday, April 9th

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

Do you. You're listening to retire right with Allan Becker on the retirement. News network. I it's Megan goes act from the retirement news networks you're listening to reach higher right with Alan backer or some wag your along with us on the show today here's the number to reach Allen and the team. It's 9136859422. Again 913. 6859422. And we're talking about your retirement savings and if you'd like to. Bolster that to some degree Allen's giving us some great strategies in great tips and I think it's really important at this point Allen to talk about retirement income because income. It really is keying in retirement isn't it. I had in Cannes is really what it's all about I mean. We saved money to either give it away legacy Ortiz spend it in retirement and it's caught an iron for a reason individual retirement account you're supposed to use it for retirement and I'll get your retirement but get through retirement and so what eight quality income plan telling you win you should take Social Security. Should you be using annuities or the stock market or Roth IRAs or life insurance as a asset class is real estate the way for you to go I mean there's so many options out there. How do you take your pension program. Working way is it qualified. Financial planner. Our goal every time is is in now with you and accomplish your goals so you've. Got to be with somebody that knows what you're trying to accomplish and make suggestions for accelerating your retirement to get you to where you want ago. And does it in a way so you don't worry about. The biggest two fears in retirement running out of money and taxes and retirement and that's where we focus. So Allan let's talk about other steps that you've seen help people make up for a deficit in their savings or perhaps people who just. Want to see their nest egg grow bigger. There's a lot of options in that space may you can pay yourself first is the first thing I think I'm having a lot of us we want to help out our kids and paper there alliger. Give them the finer things in life what we do that sometimes that are on detriment and I know that can be in very tough. Conversation for many spouses their. Bone of contention if you will. But you really have to decide where do you get a view in. Retirement I mean think about it for sec at least then. A good thirty years. Maybe forty years working and savings and then we have to re we'd play our retiring. For another thirty years rate 65 retired. Pat with a 95. And statistics say we have a 50% chance of one of us making him. 92 or better so if we're gonna have our money last in retirement. We indeed she makes them. No common sense and educated choices we need to. Review the options out there figure out what we want to have happen and figure the best way to get their matches. I think you made mention this in our first segment. But it matches. Get in line with everybody else and say well they jump up the bridge so I should do. There are options and solutions out there that'll fit your individual and unique personality. You know maybe you should consider. Downgrading your car down you know right sizing your house I mean. There are some drastic measures you can take. That would be ditching their quicker but there's also just you don't. I won low slot day here there don't goats don't keep the textures every time you know. There are ways to cut back in everything adds up. So whatever is the best solution for you or whatever goal you're trained you get to what I would suggest is come in and see somebody like myself and let us. Get our goals in line and help you. TE eight. Now only two retirement but through retire at looking at all the options out there. And figure out how they uniquely apply to you and now we do that at no cost no obligation. So call me 9136859422. That's 9136859. Or teach you know cost or obligation on the put together our roundtable retirement process. Let's get our goals set up to help you get not only to retirement but their retirement. Without ever run out of money. 9136859422. And we aired glad to have you with us today on the program meg and those act from the retirement news network. As always seated here whip Alan backer of retirement solutions group. Website head on over and check this out it's retire right. With Alan backer dot net Allen is spelled a LK and that's retire right with Alan backer. Dot net in you can find out more about Allen's ongoing dinner seminars. These are great opportunities to get to meet Alan get to understand he is in come in retirement philosophy. And also meet other like minded retirees right here in the Kansas City area so again Allen's web site check it out retire right with Allan Becker. Dot net. So we were talking about pay yourself first. And eat eat you had David Bach on he's one of America's leading money do ruse he was just on the program with you recently sat down with him and of course David bestselling author. And he's subscribes to this this thought of pay yourself first which. I think for a lot of people it's it takes a minute to kind of understand what that means and the trade offs though when you think about what it. Done it's what it really does to your savings. To your nest egg and you can really make up for some lost ground using that principle right. I've read a lot of us we get a raise and we justice that's a rate let's spend more but you get that race and take all of it or 10% evident just orchestrated a savings urge your car gets paid out you know just in Selena by new line. Mean there's so many ways you pay yourself first and you know one and I learned from one of my clients the years ago is don't. Pay for your kids' education let them get the student loans build their credit and if they do a great job you're proud of them and you have the ability. In that graduation card right after they walked off the stage. You hand them a graduation card inside there is a check to pay off their education so let them think they're going into it with all the debt. Let them think they're going into it yet have to figure out how to get a job and go to the real world. And wonder why mom and dad didn't pay for and then when they when they've done at all because they've got to for the right reasons. They hand them a check and it's all paid for me just Tammy any guess is a great way to give the kids some responsibility. But you know bottom line pay yourself first you. Mae and dishonest side now area soils or earlier I just I love having music co host and it just something just really. Came to mine a moment ago when you spelled my name. AL AM out for our website it is you know it's my name and I think everybody should spell the name LA and that the fact it is. Most people he is a last name is the First Amendment and our listeners may not gotten that so I really appreciate you Brit the four Freddie is just like. You know we're a team and and I think our listeners would benefit from working with a team because you know it's something like that little like that I didn't think of that you did. What else more significant could come from a good. Financial. Double take a good second opinion look there's something in there that a second pair buys a fresh look. Could really show up at and that's what it's all about it now. Absolutely and it never hurts to get that second opinion. And I know one of the ways Allen that we look at here on the show is to use and an annuity and there are so many different types but the writing really really key and. Do wonders for science retirement plan yes it you know annuities are one of those things that have this either. Positive or negative connotation in many people there's just a lot of of our listeners that understand that they just may not know enough about annuities and it's time for them to get educated potentially. And that's why. I hold not only is securities license of fiduciary a series 65 license but I also. Holden insurance license in numerous states and have for many years and the reason being is because as we get older a lot of the public to transfer our risks. Two to stop by company when we have rising interest rates but transfer risk to the strong insurance company that has years of experience and that's who we like to use his. You know insurance companies that have that. That high rating and an ability to you. Pay their claims and does your annuity is based on the claims paying ability of insurance company we choose some pay bonuses. But the thing is. Is the reliability of in county consistent income that these new he's generate and can CD TV paycheck each and every day. The rest of your life and potentially the rest of your spouse's life and yet the right type of setup correctly. More than 60% of boomers who own and duties have taken the step of actually calculating. The amount they think they need to save for retirement or. Of an overall plan so an annuity has to be suitable for your situation is suitable for you there's only one way to find out. Pick up the phone call me 9136859. Or. 22 that's 91368594. Teach you sit Allen at fiduciary. Find out. If the duties or pre 9136859422. Talent we mentioned that there are so many different types of new lease out there tell some of the different options. It ain't got the and he's in an acronym for us. I'm not explain and there's this via. Which is single premium media nudie you know it's been around for over a hundred years the concept is it it's at your local contract you give up your money and this is the one that most people don't like in new diesel. Will tell you about the reason at all like them but it's it's a very small percentage of market and it's basically turning your dollars into a pension. And you lose control there's the bill third income annuity which means you were delayed in community where your team come sometime in the future so you get some growth in between but my favorite is the index annuity in the indexed annuity can give you potentially get the upside of the marker participate in most of the upside the market. Banana the product we choose but. Can eliminate or limb or limit your downside exposure what I mean by that is. Like they're seminaries there are no bonus though thrills nothing spectacular. But you yet. 50% of the S&P 500 well if you tick that S&P 500 over the debt decade that 2000 to 2010. Time current. And you were in that type of vehicle you would have averaged over 5% returns. But if you're in the S&P itself and and participate in the balance. You're looking at a tired where you didn't make any thing in the market so that's a considerable. Difference when using a product that doesn't let you go backwards Hedo once you've earned it you lock it in with a product that uses the same words but doesn't act at all like those is something common variable annuity and I'm not a fan of those at all I would tell. Our listeners to steer clear that that's that's my personal opinion coming in Simi and how I can elaborate some more but got to fight out of it and he's right you. Call me at 136859422. And will let do an analysis if you have an existing one or if you're looking a lot we can help either way 91368. 9422. We are exploring different funding strategies for retirement and how to generate their retirement income. Allen has more insight stick around you're listening to retire right with Alan backer. This is retire right with the Allan Becker on the retirement. News network. Whether you're approaching retirement or already retired transitioning into retirement can be a daunting thought I really didn't come. What is the market drops how should you take Social Security. Join the scene from retirement solutions group and are risky investments for a discussion about these factors and more. All out retirement solutions group treats you to let complimentary dinner at. PM on Tuesday April 18. Fourth Thursday April 20 at. Reservations are required to call 9136859420. Team to reserve your seat today. That's 9136859422. Seating is limited so call now to learn more about these events and how you can attend retirement solutions group. 9136859422. Or online at our SG USA dot net. Investment advisory services offered through and keep wealth management LLC is. You are listening to retire right with Allan Becker on the retirement. News network. Hi it's mega most act from the retirement news networks so glad to be here with Alan backer of retirement solutions group Allen can help you get the results you want for your retirement if you're looking to generate retirement income if you're struggling with how to put that together. Alan does this day in and day out he'd love to sit down. Look at your personal situation and then find out the best strategy. For giving you that retirement you always dreamt of so called day here's how you reach out and get a hold of him it's 913. 6859. Ford two to. Local number at local business Allen's located at 435 and Metcalf in Overland Park. A veteran owned business 913685. 942. Twos or glad to have you along with us on the show it's been an interesting discussion today. We're talking about ways people can hit the gas is they're headed toward retirement and really pump up their retirement savings and I'll give me another stab another strategy the you've seen worked particularly well for people who are saving toward retirement. And their get closer to that. I remember back in the days in the navy when they're used getting very small paychecks and they have the last to the next one and you just. Had to pay yourself first so now is that allotment gallon home and even though I might be broken the end of the pay period when I got out of the navy there is this nice invisible chunk of money that was that homeless. With mama and I like him on my lever I'll only got out of the military's a same concepts still keep going forward whether you get a bonus at work or. So I mentioned earlier if you get a raise even something that's probably near geared all of us is. Taxes that's that's extra money that we. Probably should never give the government in the first place for up to re so. If you do get a return not only should you read. Look at how you have things established with the higher arrest you give less of your money to them to hold onto but. Take that refund. And I'll go buy new car should new furniture whatever other commercials running right now but put that away into some savings for the future don't put so much in savings that you can enjoy life and don't put so much a way to New York. You know that. You'll never have a chance suspended all but find that happy medium to get you where you need to be and that comes from having a solid financial. Planned to show you what you're gonna need to live off of in retirement and you know in the previous actually mentioned the word million. How it gives people more confidence over 80% of boomers who owner duties expect the mantle last was a great statistics. If that's such a strong statistic. Then I would think you'd want to know why that is. So some of Sony not even a look at an an alien doesn't tell you why I come back Dylan so why so many people using ramming such a comfortable retirement. The reason Israel simply it is too many brokers out there that are worried more about themselves and their clients in the war and what they're making off of the investments and under. Management rather than teaching their clients spend it enjoy it use it. It jurors he can't take it with you and that's the plots that we live by it every tyrant solution injured that's what I've instilled in the nineteen is it's your money. Let's just make sure last let's Richard does what it needs to do to get you. Through retirement I mean why have the fear you're gonna run out why he's vehicles that pay you even when there's no money in the account. So save cut back a plan to establish what when where why and how and let all these. Puzzle pieces if you will these pieces of your life come together in a beautiful picture to give you that. You know that that fighting chance that that you know the year gonna make it. Three retirement in joy of life and do those things you wanna do I mean what good battery a financial plan if you don't make it to retirement. It's not but if you're one of those fortunate people that make you that now an exit to retirement. But through and beyond. You know he can mean the difference to happiness and struggle and and fear. That's why retirement solutions your peers here is we're here to assist you with those decisions you. Help you understand what products what's solutions there's so many different ways to do it but what's the best way for you and your family well. Let's give those questions answered and more. Call me 9136859422. That's 9136859. Before. Twenty to come and in my office here for 35 and Metcalf let's. Do this at no cost and no obligation not looking your numbers to your questions answered and let's create our proprietary roundtable retire process to give you a blueprint. For not only to retirement but through retire at 9136859422. Alan we are all live in a whole lot longer than ever before we call that actually retirement we call that a risk that longevity risk. Everything and it's great reliving long but we do that to factor that into our retirement plans so we have income net that lasts that sustainable. Do you see that because people are living longer they're choosing to stay in the workforce longer and is that a way to. Bolster your your retirement savings in a way except. A way to bolster it every. But it is that what you want retirement to be about so that's where I've mentioned it a little bit on this showed today is don't do it from a point of fear understand what you have. What you're trying to accomplish is if you're worried about running out of money. And aegis sheet gallon give you a quick example. This is hole fifteen years ago after it didn't in this industry first few years. I have met at a general managers and he's always gonna stick with me because he had. Yeah that'll traditional long term care insurance that wasn't based on life insurance hers investments or just traditional. Hey it really needed type plan and he was worried because he had a three year long term care. Well his wife came Gallup alzheimer's in the statistics say 3.3 years for women two point six for men so he was worried about it so he took care of his wife. On his own dime. And I think he aged almost double trying to take care of his wife and did that for about three years. Well Vinny went ahead and activated as long term care policy. Now he probably should back made the long term care policy up front but he did he waited. Because he didn't wanna run out of insurance his wife lived no more than six months afterwards so instead. Of getting the full three year benefit of his policy he will be used his own money and assets agent himself. Because of the fierce and we've got to try and take fear out of our retirement planning so if you're gonna get a job because you're worried about run out of money. Maybe that's what you needed. But he getting a job because you're not sure how and why and where to take your money from if you're trying to do it all with the stock market in year worried about a downturn. That's where. Income annuities can provide you wit some stability. Potentially Hugh. Do you view that. Re occurring paycheck or play check so that you can cover that longevity risk it's basically. And other Social Security payment another pension payment another in. He had no income stream that's gonna. Sit therein and generate for you for the rest of your days. That's what they provide for AA and I don't know how you can put a value on map. That's why can put my hand on my pillow every night and feel good about what I've done for our client Stanley over the last eighteen plus years and it should state a great. Feeling to not have a job and have a career I have a something that you love in and then you can do each and every day and and I I hope. That if you choose to work and retirement it's because of those reasons that you're doing something you love not sunny you have to you are at your fearing. The unique. That makes sense because you know retirement really should be at time that you and your you can look at boards even planning for you can really enjoy. And like the way you phrase that if you're working it should be because you want to be working. Does and as it does that do not want to know when it's on the council day and push the button near game point around the PA me again. Because you want to yeah that's great great great point Alan it's been I think it interesting discussion today as we've talked about. Trying to she could call it accelerate beef up bolster your nest egg as you're heading into your retirement. Any other final suggestions. For people who are looking to do just that will tell. Ignore the obvious. I guess I would say. Mean mortgage rates are gonna start to go with the Jewish rates but I've seen people come and in my office over the years and under you know the average mortgage is 33 and a half percentage don't want the hassle but they're still playing but they're still paid 6% on their mortgage. Look at everything paying your highest credit cards down first not just paying off credit cards because you wanna get rid of the the smallest one pay the highest interest rates urged not highest ballots this is what summit of innings you can do to put yourself and a better situation. That should you know Mac doesn't lie. So don't put emotion in your planning but math in your planning and that will get you so far the other thing is. The house that we we mentioned this a little bit earlier you could downsize or right sides you could. Get at how she always wanted to is you know with the time comes if you don't have the ability to stay in it anymore because of your health. You don't want to look at him move and at that point or just sit with these this great couple the other day. And you know she'd really like to move to get his dream house and he doesn't wanna spend the money and go to hassle. Well we talked about as like why not yourself some other property you've got pretty. Close to a million dollars in assets a great pension what do you diligently with the kids or let them by the house of their dreams wanna you have NASA dreams and then leave that up. Just remember one thing about financial planning and I don't want to forget about is that we. Our inside a new presidency. We do you have a government. That. Is always changing the laws on us you have to plan for today and prepare. And adapt to the changes down the road so you know as we all want tax cuts me included that's been passed the money's gonna come from somewhere. So there's a very high possibility. That there's gonna this is going to be a year of change coming up. And you need to be with the out financial planning firm that understands. How to watch out war tax considerations I'm not talking tax. Advice per saying he's still go through re all fide CPA or tax repair. But really if you if you think about what may happen here is. Things with. Inheritance tax may be changing here right prequel are quite soon. And that's one of those things they can only change it for ten years we just experiences and it's been changed before. But what happens if you're good for the next ten years but they need dial eleven years from Maine. You need to understand the laws understand how they can affect you and make sure you're playing sinner around all of those things. Real estates one of those that that's kind of made me think and this is comes to mind because they may get rid of the stepped up basis. What I mean by step up their basis is you have 250000. Dollars per person 500000 for a couple. That you can take the original purchase price and we knew either sell it. Because you've limited for two years or you pass away your kids get at the properties stepped up to be current appraised value well. What do think that can you imagine what happens the businesses what happens to properties is the family doesn't have the cashed in around the paint attacks games on that. In ads do right away so don't overlook. Things like life insurance don't overlook at other naming options to protect your families of this is a world that we live in. That requires. A person that once you have all their ducks in a row so to speak to be working with. In church professionals and financial professionals. That's why I feel you're you're the best situation working with somebody that's RD license and both of those not or you're trying to educate I hear this all the time people come as a that's life insurance policy I've body it's creating income retirement and so I was talking to my investment guy and explain to how works and I told the two guys to talk really you want a crash course. In figuring out how these other products work rather just working with somebody that knows how everything works together and is licensed in both re just. And that's what I'm talking about needing a full picture. I will do that for you at no cost and no obligation. This is what we're here for 435 and Metcalf call me schedule of visits. Come out seeming no cost no obligation 9136859422. That's 913. 659422. As a pleasure being here today always a pleasure working with you Megan and I can't wait tell lies next week we talk about even more exciting information. So you know on our calendar 9136859422. You've been listening to retire right with Allan Becker on the retirement. News network. Investing involves risk including the loss of principal no investment strategy can guarantee a profit or protect against loss in periods of declining values any references to protection benefits or lifetime income generally referred to a fixed insurance products never securities or investment products insurance and annuity product guarantees are backed by the financial strength and claims paying ability of the issuing insurance company are firm may be able to identify potential retirement income gaps and me introduce insurance products like annuities as a potential solution talk to your financial professional and your tax advisor about -- Social Security benefits can fit into a complete retirement income strategy financial professionals are able to provide you with information but not guidance or advice related to Social Security benefits Allan Becker is an investment advisor representative and insurance professional with retirement solutions group retirement solutions group is an independent financial services firm that helps people create retirement strategies every day using a variety of insurance and investment products to work toward meeting their specific goals we are not permitted to offer and no statement made during -- show shall constitute tax or legal advice -- should talk to a qualified professional before making any decisions about your personal situation we are not affiliated with the US government or any governmental agency investment advisory services offered you -- wealth management LLC.