Retire Right 07.01.18

00:27:58

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

This these three tire right with Alan record. 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. Welcome aboard the show today glad to have you with us this is Megan NASDAQ I'm with Alan backer. He's the founder and president our retirement solutions group that you need help with the retirement and boy that's a lot of people these days a lot of baby boomers thinking about retirement it's getting a lot closer. How make sure you've got a way to get in touch with Allen because unlike mean you Allen does this every single day he helps people retire successfully. And if navigating all the ins and outs of retirement planning has you confused or overwhelmed. Owe it to yourself to reach out to Allen to begin planning for this next phase of life. I'll be giving his phone number throughout the show on T here is we start out that way if you hear anything on today's program that you do have a question about. You can get in touch here it is it's 9132867. 9132867980. And just like we do each week on the show we dive into the big topics surrounding retirement planning and this week is no different we're gonna talk today about ways to get your money to work harder for you which Allen seems like a great idea I think that's and they were all looking to do and worked fine steps we can take now to get more out of our assets and that is. To allow our money to work forest in retirement. Correct me if I'm Ron Allen there really are some simple steps that we actually be overlooked. In this whole quest to maximize our retirement assets write these are straightforward strategies Beckett helpless. It's to scratch every dot. Yes may in retirement is about. Doing simple steps to make it to the goal line right to retire right so to speak and I'm so excited about today show I do this each and every day and is anybody ever change their oil or open up there hood and looked in the car engine and when I do it it's like a blank stares like deer in headlights rate I don't know what I'm doing when I lift up that hood I I may look like a guy trying to look like an automobile and went in today and doubtful when I look at a financial plan I look at somebody's assets things like that there's just something goes on excites me hearing some people. Love this and some people though I've just so blessed to have a career and the ability to help so many people like her listeners because. I just have a passion for this and when I look in the financial planner I see solutions straight. Says they were gonna talk about the solutions Megan I'm excited to get started. I into Allen each and every week it is a great show full of so much good information and I want to start with our tax code our federal tax code this might sound like a strange place to start over tacking about maximizing. Our assets but. You tell me there are actually some perks inside the federal tax code that. Give people ways to maximize their assets for retirement let's start the year what can we be looking for. Well maybe you know taxes. Our great place to start because if we. Can pay the right amount of taxes and when I mean by that is nobody as a team public duty to name. More taxes in the law demands taxes are forced extra actions not voluntary contributions. And each year were supposed to sit out what they tax prepares CPA. Somebody. Or do it ourselves but we're supposed to go out there and figure out what we feel is. The right amount attacks were supposed to pack right now the government's job isn't to go back in and make sure they agree with us or audit us if they feel not but the ultimate ideas if we have the right amount a write offs were. Deducting the right things were putting money in the right places and ultimately were saving money in if you miss those deductions if you miss those write offs what are my talking about. Let's start with one great concept which is putting money into your 41 K here higher here for a three BD percent plan all these. Odd numbered programs that are out there in the whole idea of them. Is to keep your ability to cannot borrow money from the government now take the tax deduction and then later when you get your retirement sometime typically between. 55. And seven and a half start drawn up that money now I sit 55. And many of you might be shaking your heads as your listing this guy posted two and a half. And two great point 55. To 59 and a half. That timeframe if your money is still in your 401K. You do have access to and if you're retired if you're separated from service but fifteen and a half to seventy is a sweet spot where most people are drawn out there Harris. But the point. Of today show has some tips to help you get to the retirement finish line so to speak well. Putting that money into your retirement plans maximizing those deductions having less money hit your bottom line which means you pay less taxes. In the early years currently all helps to PQ. Closer and closer to that retirement you all desire. Alan I wanna stick with the federal government here because Social Security those benefits this is another way that we can look at maximizing our income right tell me what you do for your clients when it comes to their Social Security benefits you know me and Social Security is one of those topics that a lot of people think is a lot more confusing than it is. And now I just talking to my dad the other day and he was on FaceBook and got one of those FaceBook ads that come up play many of us see. And told him there's changes in Social Security in. So he called me up and said what are they talking about what's changing Social Security now. So everybody understands my dad is 77. He has been on Social Security for over seven years so for him nothing is changing and Social Security for any of our listeners that are also doing nothing is changing but there is a lot of I hate to say at the tactics out there to get people to go talk to somebody and see something even when it doesn't really apply to them so. The real plus Austria's make the choice wean you take it. And taking it the right time. The. They think there is you only have twelve months if you make a bad decision they will let you go back and say do over so to speak if you pay back the money you've taken in. Because Social Security. Let's back up a little bit 1941. Check came out it was never designed to cover everything impact we first came out the average life expectancy was 62 and a half full retirement age was 65. I think it was one of the best things that governments ever done is come out a plan. That basically said that over half the population would never get to their Social Security but we fast forward to 2000. And eighteen and beyond the average life expectancy now. Is a lot greater than 62 and a half it's in the mid eighties and if you. Our Mary there's a good chance actually a 50% chance to make the nanny too and have 125% chance to make it. Past 98. My grandma how much I've talked about on several of these shows. Live 200 and ones so it can happen right and the whole point of planning retirement is the make share. That if you have longevity. That you know your affairs in order everything's take care for the ones you up that's why we offer our roundtable retirement process and meg gonna wanna make sure everybody knows that all they have to do is call us at 9132867980. Sign up for one of our workshops here in them major metropolitan Kansas City area fantastic restaurant or just get our calendar if you're ready to start talking because weeks. That time aside. For you. To keep your questions to answer whether we want to look at your social security and help you. Figure out when the best time to take that Social Security is or if we're looking at a full income plan and everything in between we have a roundtable retirement process. Pick up the phone give us a call today and let's start playing. For your future nine when 32867980. At a number again nine when 32867980. And had a heart to his website go to retire right TC dot com. Debt to retire right TC dot com for more information on as dinner workshops. Medicare is there any way to maximize what's offered there I mean you are what you moderate on Social Security Allen is really helpful I just wonder about those Medicare benefits. Well you know I cut. My teeth Megan on Medicare and analyst for over twenty years and for and I've of those years I was doing a lot of Medicare plan for people and it's it's my back on and I. Still my team and I were all licensed in Medicare we certify every year when I mean by that is. Where are licensed to offer advice on Medicare supplements Medicare Advantage plans prescription drugs. Underage health when I say underage I'm talking about people that are not qualify for Medicare so to bridge that gap between. Working and having benefits and retirement. But to answer the question more specifically Medicare is the health insurance plan for people under 65 and older or is able. And they'll apply for or qualify for Medicare part a of Medicare we're talking about is your hospital benefits you have to work forty quarters or ten years. And that doesn't cost cheating if you you know qualified for those. For that right there but part B of Medicare that's referred to as the doctors benefits. And we were talking about that that's anytime you go to the doctor it's basically an 8020 split between Medicare. And yourself so you wanna get a Medicare supplement or an advantage plan those are two different types of programs to help. Hate what Medicare does an understanding the difference of those based in your unique situation and the value of your state are you traveling. There's a lot of questions that can help you navigate to the right plan. This is not all about cost folks it's about service and about having the program that's gonna work best for you your family. For example if you get an advantage plan that's a network program and you leave that network news let's say you're going to Florida for six months earlier you're just on vacation and something happens wire out of town if that something was not an emergency it and possibly will not be covered by your program depending on what twenty era that's very important step let me get a little further and that if you were out of town and let's say you've had heart pains. Now Megan we don't mess around with Iraq we wanna go straight to the doctor our chest has bothered you bet. Are you get to the doctors they take in to you via full work up and it's indigestion. He ate something bad it didn't agree with guess what you're at a network. Not an emergency. I hope those yours that's important understand so you want to be in the right type of program that fits your lifestyle. So that would be this the biggest advice I can give yet is common in CS. Frank in our office he specializes. Forests in the Medicare even though we're all license that week. We all specialize in different parts of around ten retirement processed because we wanna make sure that we can. Teaching the most current information anyone part in. Now let's talk and Bobbie there today and what he says you know I'm. It's not if I'm gonna worker retirement solutions group is just win and I ended up being at the end of that business he decided to come aboard but the key was he'd met with another advisor actually been with them for a good six months and his wife looked over it says you know I've learned more in an hour and a half. Between the two visits with the U guys that I have in over six months there are other advisor. A clear picture I understand what's going on and you know we appreciate that plus while boxes. I don't have to go all over the place my accountant doesn't know what's going on vs my insurance agent burst my investment advisor vs my attorney and he paid more taxes and he needs to lashed out lap because they didn't now ranked. And he wasn't maximizing his tax bracket. Is on top about the importance of having all of those people people who are advising you at all those different areas they need to be working together it's it's easier when they're all under one group now. Absolutely here retirement solutions strip and our investments. We have everybody in this building and you know I've just take it to this it's like working with the three wise men and says the three blind mice and make so much sense so you know. Whoever you're working way hopefully you've got to plan intact. Hopefully there'll talk into each other you're maximizing your taxes you've got to clear direction of where you go on for income and it all makes cents. But for those of you that down and unfortunately it's probably 95% of you that don't have that. We wanna give you a solution we want you to pick up opponent cause that 9132867980. I believe he won't be sorry you made that phone call because you'll be able to get a lot of information about your situation. And you hopefully get some really clear direction. To take it to the next level so that you can retire ranks. And have the retirement you've always dreamed up. Thanks so that number again 91328679809132867980. We're helping you maximize your assets for retirement what are the stock market are you investing. You're gonna wanna stick around Allen shows you a couple ways to make sure the money you have in the market is working its hardest for you. That's next. This. He's retire right we've Allan Becker on the retirement. News network. Hi it's Glenn Beck of the dozens of retirement advisors in Kansas City you're gonna hear me talk about only one Allan Becker at retirement solutions group and our SEG investments and that's because Alan is not your typical establishment. Kind of advisor and retirement solutions group and our SG investments isn't your typical establishment advisory firm everything they do is custom fit to you. Thank you Glenn join us for one of my upcoming complimentary dinner events pick the date that works best for you we at 6 o'clock on Tuesday July 10 or Thursday July 12 at 801 chop house in Lee would Kansas reservations are required in seating is limited so call now 9132867151. Learn about retirement planning process and gain insight into today's retirement strategy. Let Alan and his team help you retire successfully to sign up call 9132867151. That's 9132867. He won 51 in Kansas City call Alan Decker 9132867. He won 51 next inaugurated an investment advisors to offer limited mr. individuals doing well mentally LC. This is retire right with the Alan Ackerman on the retirement. News network. When you're with us here on the program today this is retire right with Allan Becker I'm Megan NASDAQ. Wanna make sure that you have his phone number as were rolling to our show today were covering a lot of ground I'm sure you have questions Allen has the answers here's the phone number at retirement solutions group 9132867980. X nine went 32867980. Lotta people out there Allan confused there who lost on this road to retirement and rightly so there's so much to get your arms around these days in retirement planning. Good news is we have you to lean on in this is what you been doing for almost 25 years now helping people right here in the DC metro retire successfully how to continue our conversation as we talk about. Maximizing our assets for retirement we discussed Social Security gave us some really great strategies on that how to maximize our benefits. And we also talked about taxes another way we can we can really maximize the value of our hard earned dollars but. We've got some more things to discuss and I did talk to the people today who are invested in the stock market how we make sure those assets are working just hard is eighteen and. Allen. Well couple things come to mind Megan first off. You've gone to war you need to have an army behind your in this case a sailor and all that time I spent the navy he taught me. Acted to borrow a phrase from my my kids cub scout Boy Scouts. Is he got to be prepared rate and you need somebody behind you that knows how to navigate those waters what's going on so. That's where retirement solutions comes in handy you know whether you've been saving for years you just starting to save or everything you own sitting in your 401K. You know you need somehow to maximize it too. Take that you know we used to have pensions right at least to have these. Income streams that or. You know we worked for the same company for twenty or thirty years they give us a gold watch and a pension plan and took that away from us and now we get these. Define. Contribution plans at 40 in case we put our money away and when we get to retirement. Where series to savings we don't know what to two with those dollars do we dome in the market. So the first piece of advice I really get our listeners make is don't listen to everybody else follow your gut. Whites there Brady usually doesn't. Treat each Iran and that's what they call it women's intuition men we have to. But if you got that burn in feeling that is game it doesn't feel right or you're just listen to somebody is you think you're supposed to back up to take a deep breath find an advisor. That you relate to that a teacher questions answer. That is gonna invest in the status that you want so. We talk about the stock market it's a great place to make money there's absolutely. Nothing wrong with being in the market but I know that a lot of our listeners that aren't in the market at all I'm not on this radio show to tell you you have to be in the market I'm telling you if you wanna be in the market be diversified. You need lots of positions all over the place you don't need five different advisors and don't talk to each other you need to find somebody you trust to help you with that war somebody that will look at your 401K. And help you navigate those waters as well. He's GE need lots of different positions. That mean. Well when I talk about diversification. One style of diversification that a lot of people come into the office in and talk about our thinking is I've got four different advisors away for different of ideas and I don't know Megan you ever gone to pot luck in your whole lot of stuff that doesn't go well together a whole absolutely had been to a family reunion or ten. Yeah well. That's what it's like having several different advisors they don't know what's going on in the right hand doesn't know what the left hand is doing and that's not a good financial plan when I say diversification. I mean. Fighting captain of the ship and putting them asking them to do it you need. That way you have stocks in all different countries and bonds and mutual funds and ETFs and all these things that some of us don't even know what I'm talking about. They just heard about and others that know exactly what Applera. But the point is to have a very diversified portfolio with ten or 121000 different positions that is you know it's one things up another he's going to be down and vice Versa you just wanna be able to make money and whether distorts that's what I'm talking about my diversification true diversification. And part of our roundtable retirement process is to give you a fee analysis and an overlap. And what I mean by that is if you let's say have several advisors or you just wanna. Check your current advisor out we can send that up the flag pole so to speak and look at year. Portfolio and let you know where the intersections are meaning. Let's say you have ten different mutual funds went to like develop alternatives mutual funds are holding the same thing that's not diversification fastest. Holding a lot of things in different names at all to the same thing. You know with a look here garage he might have two or three cars out there in your driveway and garage vale do the same thing they might you know two little differently. But they'll basically do the same thing more diversified. We wanna have different ways to get the same thing done and that's what we're doing here retirement solutions group is helping people. Make sure they have the best portfolio. To. Accomplish their goals in the right risk tolerance what does that mean. That means if you don't want a lot of risk your pork pollution have a lot of risk if you wanna take a terrorist your portfolio is probably going to be a little riskier than somebody else's. But it needs to be designed to yield. I wanna take us back just a half step when you talk about risk I define what that really is when we're talking about our investments for retirement. When you say risk you're talking about what you ydstie in to lose just flat out. Who've gone to lose correct right there's there's a couple. Parts of risk that I think economical little deeper than that money only has two purposes making you're either going to expand that argument away. That's sports car he always whining about what biter you're kidding about their money but ought to step further. What if you're just not comfortable so risk might be the the risk that you are gonna stay up at night thinking about this all the time that's why I'm saying if your not. Wired to be in the market you probably shouldn't be in the market there's ways to be based on it without being in it so you don't lose but ultimately risk reward. Weigh that out in the more risk you take the more you stand loose and that's that's the easiest marker. Now if you want to make money in the market but not lose any money in the market. You can't physically be in the market has there's always an element of risk when you're using the market are let me give you a real life scenario of this no rocks and comes in and talks to mean she just lost her husband he handled most of the investments she. Camel under the meetings which he just nodded and said. You know Rick's got us well here's the thing you've got to be involved so that you know what happens when the unfortunate does happen so to speak right so. With rocks and situation and needed to a sister will they had half a million dollars in the market if you can you think back to the beginning of 2018. We had some of the biggest volatility we've had in a long time. And the volatility keep returning every once while we'll have a day or two of it based on you know terror for his or whatever else is going on just unrest in the market the key businesses. Crocs and can you really all 500000 that is at risk she could really lose all of it now based on how it's invested. And based on her wrist aren't. We can limit a lot of that risk but ultimately if it's in the market. It is at risk and that's what I'm talking about folks is that you should be working with a devises that understands that. That you're in the distribution. Preservation part of retirement. And that a lot of us we can't. You know we can't afford to lose much if any money in retirement. But we need a way of life we still we income so let me gasoline companies that Roxy and wasn't thirty years old. Now no Roxanne was in her mid sixties and this was not a time in her life where she wanted any volatility. Great point Megan because somebody in their thirties in their forties they can take the risk or should be able to. Let me rephrase that a little bit. Everything we say is not limited just because I'm 35 I should be on the market or just because I'm 45 I should start switching there are rules of thumb. But in general it's really about what makes you comfortable there's different people you know different strokes for different folks let's go there so if what we're talking about today is resonating with the air and across that don't know how it couldn't be you need to give us a call and come visit us because we have created the proprietary around they retire process. Answer these questions and so many more we take care of I corners of retirement as you guys have I heard the show before you know now it's time to take action give us a call common cius will help you with the income investments tax efficiency health care. And legacy all at no cost no obligation but you gotta come seeming 91328679809132867980. Online as well Alan's website is retire right TC dot com. That's retire right TC dot com as you're talking about risk being in the market making sure. You have appropriate risk for your age in other words if you get post retirement you don't wanna put everything you've worked so hard for at risk so this protection right the you're talking about Alan. Where does that come in how does that under the picture that will. Tax and it's something that you have to usually trade off of right you have to trade some of the big high side to gains. For some of the lower side to be more conservative vote them higher the risk the more use in the make but also the more you stand blues. So let me take you back to little nurture and that we all he told our kids about the tortoise and Harry and the idea is via tortoise won the race. And hair didn't. Even though the Harris much faster the idea here is a markets are volatile and just because you made a bunch of money in the market one day doesn't mean you shouldn't pull back. As you get older or invest T your restarts I think all the people that were in that point when Iran up to 20000 share. As it fell back to 6000 dollar a share you know how many people jump to end. Wrote it up. Didn't get out and then lost more than they started with that's not a way to have a come from retirement the idea of retirement. Is to understand what. Money Bagger Bucky you're gonna pull from a what time to accomplish what solution. Now that comes in having the right advisor so here's a couple things I would think about work with the fiduciary what's a fiduciary. Somebody legally obligated to act in your best interest and that only comes in two ways either have a series 65 or a series 66. Your retirement decisions you're on my advisors. Our license with a 65 or 66 because we want everybody to put you. First so that's what we're what I recommend first work with a fiduciary second I feel independent fiduciary is most important because that there's a name on that door. At one of these big bucks houses. You've got their rules leading you not use leading U and it you know I know it sounds funny you say all of their fiduciary they got to put me first but if they are limited on the products they only have so much on their menu they're not allowed to go out find anything else they don't have choice of what they go get a box house tells them what they can happen. So that's two independent fiduciary third. Work with somebody who is what I called duly licensed somebody who also has a life insurance license and helping turn places. Earlier today we are talking on Medicare another thing that comes to mind and that is long term care when you're gonna talk to summing up Medicare long term care they have to have a health license if you wanna talk to somebody about life insurance another product out there that a lot of people use in retirement to get the gains the market accounting losses. Is something called a deferred annuity. If you're gonna talk about that that takes an insurance license so. Altman answer to your question Megan if we want to eliminate or limit risk. We want to move some of that over to a safer side where we can get the gains of the mark without a loss as we might when he is fixed annuity. Well bottom line is you're talking to somebody who doesn't have an insurance license they're not coming to help you with those products so I attribute that to an example of let's see go to the grocery store to get lasagna. And you get there and then dairy sections all closed off when you're not any it was pioneer and that was spaghetti because he can't get the cheeses and the and it's sour cream in the stuff you need so you're gonna end up. Getting something that works solves a problem your hunger night in spaghetti he ought to posterior and spaghetti what you're not getting what you wanted. And what you desired and that's the idea you can go to some his master's license you're gonna get security go to some of that nature insulation in insurance if you go to Sony has both. You can get a balanced portfolio that's gonna hopefully accomplish all your goals that's where around tea retirement is all out and we want to make share. That you have the ability to keep one for yourself no cost no obligation star took a phone number 9132867980. Come see my team we're gonna help you get to and their retirement in the most effective fashion. You're unique Chris starts 9132867980. We're helping you get more out of your money and retirement up next week tire middle income Allen has some great tips for you stay tuned. You're listening to retire right with the Allen back here. I'm the retirement. News network.
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