Retire Right 07.08.18 Seg2

Retire Right with Alan Becker
Saturday, July 7th

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

You're listening to retire right with Allan Becker on the retirement. News network. Hi Megan NASDAQ and the retirement news network alongside CM bands and Alan backers see him sitting in today alongside Allen he is a financial advisor every ten airman solutions group. Allen and Sam how many years now together in the business helping Kansas City ends retire. Well we've been together for twenty years there was a little eight year hiatus there so. Sam this video do some property casually or for a little while as it would it is financial planning. But he saw the light and took my phone call and came back to the team itself. The thinking goes back to captive vs independent I spent eight years as a captive agents and I mean being on the independent side it that allows me to see you know. Everything that I am I wasn't able to provide my clients during that eight year periods. And that we talked about you know that difference when you're looking further rated visor captive vs in defect independent finding that fiduciary. Advisor that's the benefit of working with retirement solutions group I want to give you their phone number. As we roll through our program 9132867980. That's nine when 32867980. And a web say to be haven't visited make sure you go to retire right TC dot com you know planning for retirement I think it's safe to assume a lot of retirees out here they'd be advised to be used to have with their money right they're getting. Close to that retirement date cash inflow has stopped what products would you be recommending these days tease someone who is retiring. That they'd want to include in their strategy. I'll start with the products are dictated by the solutions needed but we're talking about incomes specifically which is the biggest concerns retirees. And to your point Megan has. People are transitioning from that accumulation phase to the preservation of their assets where the return of their money is more important on the return on their money. Not that it's not important but it's more important because now the number one fear retirees. Is. And has been for a long time the fear running out of money. And that's real important so just for second. Here are running out of money means that you don't take a vacation when you should. It means that you may not eat out or do things that you enjoy in retirement when he can't take your money with you and only has two purposes. He gonna spend it give it away. So passion of mine and I don't put words in San mouth but I I know in a long enough that I am pretty darn sure we want you guys spending your money. And enjoying. Your retirement or not those advisors say don't spend your principal it's only a paper loss just hold on no we understand the value of the dollar so. What we wanted to do is help conserve that if as you get older like most. Thank you become more conservative that you want to take less risk. That would bring us to utilizing. Something like in a new weekly retirees should be advised to build their plan with a sturdy foundation that can take them. Through their retirement years but. He really never know what like six backs and so we do utilized or insurance license for products such as. Fix it fixed indexed annuities to provide those guarantees. To enter retirement. It is are talking about that today is CNN and Alan. Are all annuity is out there are these insurance products or are you least the same right I hear you see a lot of that they have of all of Alan we talk about that on the show there really helpful for income generation you gotta find the right one no rain. A they're evolving each and every day every time we turn around. New index's new products have come out so. I mean it's kind of cliche that these aren't your father's and parents annuities rates and. Now no they're not so they. As Alan said we you know we've we've got to keep up fun. The different types of annuities on a daily basis I'm on Wii gets daily emails from different carriers because when we are sitting down and talking to clients. We don't really don't have one specific annuity that we use for every one. As we always talk abouts you know it's it's custom tailored to our clients. Plan on what what our client wants and retirement and at the end of the day. I would say in an Allen would agree with me. The biggest question that we get when we're out there at our our dinner events is what what can I do to ensure that I don't outlive my money. And the insurance brokers if you will were licensed with. Thirty plus different carriers each of them have five to ten different products. So we have to know all those we started today's program talking about you can. Get on the Internet and and why do you mess they're in need of financial planner financial advisor guardian Pam politically and insurance as you don't pay us that is a commission noble product meaning that. It paid by the insurance company just like. You don't write a check your car insurance company for your insurance to the agent you right to the carrier very similar to that it's it's. It's built and we can't negotiated adjusted its its part of the product why am I'm talking about that is because you need to know we disclose everything were very transparent. But sometimes we need to look at an insurance product because while our clients are looking for. Is peace of mind of sorts a consistent increasing income stream that's going to be there for the rest of their life and their spouse's life. And although we can build something on our managed portfolio side would dividends we can't guarantee that it's going to be there with the insurance company. Based on the claims paying ability of that here we choose. That's why we have several of them so that we can. Find the most appropriate product or solution and they come into basic forms they can and an immediate form which mean their income stream starts right away or deferred. Which means you may not need to take that income for 23451015. Years either way. We can set up a pass them and explain the liquidity explained explained the positives and negatives what you're giving up what you're gaining. And then the ultimate decision comes from. Our financial. Family your client family so they can choose direct product were were assisting them work were helping them with our. Experience and in if you Google in it and try to do it yourself you probably don't have the appropriate licenses you don't know all the products out there you're more likely to make a very very costly mistake. And we would rather you work will be tried and true. Rating firms such as retirement solutions you're so that we can avoid those pitfalls. And that's why we offer as part or roundtable retirement plan a newly reviews of maybe you already have a contract. Maybe you're looking at one. Well stop right there pick up the phone call us let us see what you're looking at let us give you our advice our our opinion on that. And maybe we can make sure. You are going down the right path I mean there's a lot of companies out there here in town that do seminars and at theirs and ours are talking about. You know the new ideas that day so to speak and people buy those products come here all the time. And we just can't help him because they've got everything locked out that he didn't buy it and it. In in appropriate capacity matter fact Sam we've talked and they don't know what happened privately Allen at a point percent bonus sounded good. There's better solutions out there so so do me a favor and call. The office and be one of those next ten collar so we can put you front line for one of our roundtable retirees. That phone number 9132867980. In 913286. 7980. Glad to have you along with us here on the show I wanna give you Allen and Sam's website you can always check that out it retire right TC dot com or. About the entire team every tire of and solutions group. And their very conveniently located for you right at 435 and Metcalf in Overland Park 9132867980. Is the phone number to dial he'd like to set a visit with the team so Social Security that's something that we have to talk about right when were talking about an overall strategy for retirement is weighing. Allen and Sam to actually maximize. What you're getting in terms of Social Security benefits. Absolutely it's part of our roundtable retire process that the key in and Sam's touched on this a few times today. Is that you do not want some minutes to an end to that question without getting all the facts everybody situations different. And we talk about hustled up a workshop we'll give you little prescription of that sand. Yeah I mean at the workshop on when explain social security and I think it all comes down to. You know first and foremost when when did Social Security start. You know that well it was voted and elected in the thirties that the first Jack started in 1940. Absolutely yeah and you know end and Roosevelt got on the back of that train and he said hey you know what there's as. Long as I'm alive Social Security will never be taxed Sosa Alou pulled that statement there was a loophole absolutely. Unfortunately. Roosevelt was no longer with. So SunPower were taxed at up to 85 cents on the dollar for for some of us it depends on our income right there's a couple levels there. I'm echos the some of the tax efficiency of what we do but I mean the life expectancy in 1940 and at first check came out. I think about this it's it's crazy. 61 and half frank yes. Both full retirement wasn't till 65 I mean no matter what you think of the government think it's it's a great job there because over half the population. Theoretically would never make it to full retirement date so. It was a very affordable program but we fast forward over seventy years and today is life expectancy is Korean missiles carried out both. Completely different yet. Yes we're definitely living much longer. On average. You know if you're married your limits it's like 92 years old. Let's sixty fat right now the statistics is 92 bit and me an average in your eighty's so. But my car bombing a 101 there's more. Since Syrians every day it's it's crazy Al I mean retirement. Is released a new idea you know in the old days he'd and it worked until he passed away it seems like Matthau were planned for 102030. Somethings and forty years of unemployment. So financial planning it's all so important and you don't have to follow her. And just doing everyone else is doing don't just take you know the Social Security benefits 62 major worry it's not going to be there. Don't just take your pension because it the company you work for offering UA and payment if you have the option for a lump sum. You might find that an annuity in the private sector will pay longer because here's one thing I can almost guarantee you. Is that a and really the private sector. What have a definite for your heirs and the ones do your company more times than not you don't get that benefit in other words it will go outside. You know. And force you passed away in a car accident. Nothing for the years that's not a good thing but anyone in the private sector you can have the same payment structure potentially increasing. And you have a legacies of don't always take the first thing bring that information Nelson must look at men what's the worst thing can happen from looking. And you know we have a saying here it's it's you know doing nothing. Is still doing something that that's a choice. And you should take it upon yourself to help out because you know being a parent. Haven't and I nearly eight year old son the two Euro place kind of his own man right now we really can't. Corral him. But tonight here in the aerial it's it's interesting they look up to us and and you better listing today you have a responsibility to your to your children because they're always Watson to your families your spouse to make sure. That you're making your money lasts as long future and it doesn't matter if you are we have a couple million dollars in the banking you're never gonna spending your ultra conservatives. If you can take that. Two and a half million make it three and a half million without taking any risk by just making a few tweaks by using the right solutions out there that you may be you do know they existed. You should have a obligation. To to pass that on your family to help. Your family entity or if that's not that important to you don't have the kids. Maybe it's a church or charity. Somebody can benefit from choice assuming. Return on investment or reliability of income the true meaning of our ally in the golden years a lot of topics and that one did this comes up I'll ask. Salute him and Social Security is a hot button for many retirees something we specialists and but I can tell like. Using fear I've seen sun. Agents if you will and advisors out there. I'm back to say they're doing it in the best way and in my dad at least once or twice your country and says. Alan you know what do I need to know what the change is Seoul's security outlook Adams had seven before you've been council's security for like six years nothing's changed your its locked and loaded for you. But these. Flyers are coming out the seminar invites these FaceBook ads that are talking about all the changes and Social Security it. Take put fear out there you know. Guys social carries important. It's going to be there and some former fashion he just you know that you're doing the most tax efficient. Draw for yourself and it is a very important. Decision one not to take lightly so here's knocked it in an answer that noddle out of it just tell you benefit is. But here retirement solutions group. We will help you down that path. It's part of our roundtable retirement review and it's at no cost no obligation is limited to the next ten collars on today show. So give us a call 9132867980. At number 9132867980. And everybody that goes around every parent process those games. A sign autograph copy of the book return on investment reliability and come true meaning tomorrow and the golden years many other benefits as well so give us call 913286. 7980. Whether you're approaching retirement or already retired. Having a financial professional on your side can help you lay out your strategy to address like surprises. But what you live longer than expected. Stay tuned in mind apps. This is retire right with the Allan Becker on the retirement. News network. Do you think he Glenn join us for one of my upcoming complimentary dinner events pick a date that works best for you we have 6 o'clock on Tuesday July 10 or Thursday July 12 at 801 chop house in leeway Kansas reservations 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 Allan Becker 9132867. He won 51 Mecca and regulated and investment advisors to offer limited leverage to individuals to me ultimately LC. You are listening to retire right with Allan Becker on the retirement. News network. And. Hi it's made in those neck from the retirement news network glad to have you with us here on the program this is retire right with Allan Becker. I wanna give me his phone number it's 9132867980. To reach out to him. And the team our retirement solutions group speaking of the team we have eighteen amber with us today Sam bass financial advisor at RSD is with us in the studio now. And we're glad that he is having a great conversation today and the program and it we're talking about Social Security benefits just a little bit earlier how important it is to utilize those to maximize those. And we talked about products that can ensure a steady income and some of the New York 21 century annuity products can do you suggest that they had to say semen on it also seems like we're reliving a lot longer than previous generations so how do we make all this work you know how to week. Make sure that our money are in common is going to last as long as we do. Absolutely and again it's human nature to always focus on thinking about the immediate future. Never a long term view. It's like you're traveling to some highway destination and it's been smooth sailing so far you mentality quarter mile in gas that's in the tank in your anxious to reach your destination so bustle media hold off on filling up until the next stop. But just from your immediate viewpoint never works it looks like an easy drives actually did this the other name like ours is kind of craziness but however farther down that same stretch around there's been an accident. And it traffic is has eventually stopped by your stock has at this accident is it's being cleared your car runs out of gas leaving you stranded I mean. That's that's kind of you know it's it's an entire metaphor for retirement I say that that habeas people that we run into on a daily basis of the people pensions went would you agree yeah organ duty taking the role that and they have I mean we have people come and now all day long the people that pensions and then the happy as people we re we run into. So you know if you had the ability to take the the amount of retirement that you saved up to this point and create your own pension I would not do that. New used to have a form of insurance on them and from an insurance companies basically claims paying ability. But there's this guaranty association. That each state has. It's part of and it basically all the insurance companies and stay back each other tennis it's got a 250000. Dollar guarantee. So those listeners out there that really liked their CD's that's great to see these are paying anything. And insurance companies have something called a mighty. Are paying around 33 and a half percent and operate just like a CD that have the insurance guarantee up to 250000 dollars but unlike the Federal Deposit Insurance Corp. that insures deposits. This insurers. All the guarantees of the contract. So much more transparent and now here's the thing about Sam we know what we're doing and we would love to share that information with you. Apple will leave the amount of information you want I'll tee you know some people wanna know. That if they get in their car and turn on the mission they're gonna get thirty miles of the gallon that all they care about that they're getting thirty miles out. Some of our engineers out there we have plenty of clients from. You know some of these big companies here in town and meanwhile day. Honeywell. Air you know the thing is when an engineer comes then. Sometimes they wanna know why it is their target thirty miles to a gallon and the thing is we're capable of answering those questions so whatever is you need is long if you pick up that phone and make the first step to come in and visit with us we're gonna make sure you get it that's that's what we do here were. Where here and our unique value proposition if you will. Is actually listen to you answer your questions and creating plan. A plan to issue two and through retirement. I'll start of the phone call 91328679809132867980. That number again to reach out to sea and talent in the team that retirement solutions group 913286. 7980. And you're always welcome the log on to their website go to retire rate Casey dot com and see how someone know what amount might be efficient enough to address that longevity problem. I think we all agreed a substantial nasty injury tiger but the amount you need depends on factors like you know what what's your healthier life expectancy. Projected expenses you know desires standard of living in a whole lot more. You use a million dollars it used to be nice. Around numbers target for a lot of people. Some people might need a larger mistakes they've done others might need you know not quite that much that has to spend and yeah I mean it. And part of our our retirement. Process here is sitting down what those individuals and first and foremost making a budget out. You would be shocked how many people we run into you on a daily basis but have never sat down. And on budget and their entire lives and you know. At the end of the day how much you know you're you're not gonna know how much of retirement you need it until you know how much you're going to be spending in retirement. Aaron talk about eagle scout you know personal management bench you're giving his first Amanda I'm not tired of putting on a budget I'm saying just budgeting knowing what you're spending. Mean if you don't know your spending as you go into retirement how you know make it through retirement so when we cut budgets. Let's just get an idea you spend and 4000 a month that he spent six he's been into. And me and then what your paycheck and then how much do you left over for your Playtex that he can enjoy life there's there's all these different variables that come into. In it and one thing and may you mentioned going to our web site I think that's a great thing. Because on there they can click a button and Julie risk assessment right on there. And that comes right to examine my desk and we can follow up with the it just gives us an idea how much risk you on the tape do you even know. This is a question that many people haven't. Been asked for a long time they've been the same advisor for. Do your accumulation phase in and their risk is changed their powerful is hasn't where there portal has changed just because it. The dividends or equities that if they've been changing in their portfolio so that it's no longer imbalance with with you so. Thought to retiring Casey Jack how. And do that risk assessment salute you I mean this is a a no cost easy tool for you who to get a good idea of how much risk you will take in retirement. Because how that money gonna last as long as you do if you're taking all the risk in the market is taking all the outside means flat. You know the downside and as Alan's talking about that the risk assessments tool. The other thing now it I would urge people to do is is if you're married. Sit down and do that together because you'll be shocked to a family affair you'll be shocked the husband and wife may have a totally different. Risk tolerance and that's something that we want to build end to. Our planning as well because sometimes we just you know sometimes went to find a happy medium. Part of our job of marriage counseling yes that's so much fun and speaking of relationships in the relationship you have to find a professional that's not a one way street right. May now that's not a one way street are our clients become part of our family and it's it's a two way conversation and that's ultimately why we. Me and our our retirement planning process the rounds every timer process because we want everybody at the table. Is somewhat of an equal fashion we want our client and Linda Biehl and ask us anything. And we are financial planners appear via car you buy a house here right sizing and refinancing. You know he's pay off those credit cards. If it has to do with your money you should be giving us a call for working together so that we can help advice you it's not just a matter of putting money in. It portfolio and then set it forget it right. This is constant rebalancing. Getting together regularly coming in visiting us. And you know not to history. Half the time we talk about our review we make sure bodies okay we're talking about your family our family and what's gone on a life threatening its it's a relationship business. And that's what you don't do it when you're doing yourself to some app on the computer you don't get the relationship so. Absolutely. Think it's the best that you use to work with the financial professionally you understand what they're saying. And the Keating good feedback and and have that opened communication. They're looking for right. Alan I I would say a 80% of our job on a daily basis is his relationships. That's really that first appointment when folks come in and and meet with us. That's really what that first appointment is all pals it's asking you questions it's listening to you determining what you want to do and retirement what are your retirement goals. You know NN as we go back sometimes though the husband and wife have different goals. It's staying the course I mean so this is you've got to help people understand when the markets under turmoil sometimes it's just. Quit glitch I mean you're one of the smartest guys I know when it comes to analytics the market and those kind of things in. Oftentimes you'll jump on the phone with us or Claxton and were in and visit a minute and talk to them to that point where. Maybe it's just something going on. Bad we get to in the morning or a maybe it's something going on in Europe or something that's just its use on a long term blip in the market it's just a one time. So stay the course kind of thing he was beat that for a moment. Yeah I mean I think we both agree that this is probably one of the most volatile. Markets we've ever seen it used to be back in the day buying a whole set it forget it just you know. Check it every year every twelve months and then see what happens. And it's really. Your retirement solutions group it's it's sitting down with those clients at least the first year every quarter on the way things are changing the market right now. As you said that it tweets and and it's it's really. And now it's a global markets com and we've have to look at everything that happens around the globe and how that affects the markets as a whole. We've partnered with a great chief financial officer affirm that scat. Hundreds of people in the error. Organizations to do. The money managing for us meaning that. They're the ones that aren't too and all the analytic skill into the companies and checking them out so we can be here to serve issue in partnership or straight. The Phillies are custodians of that we know where your money house you know where it sat. You can get to it when you need to its stays liquid. But our best clients are the ones that have that nice mix between. Safety and some risk for growth. And we wanna offer that TU in the form of our roundtable retire process around him retirees you know cost no obligation. Be one of those next and I'll. And call us today. Retirement solutions through. Where the reliability of your income is the most important thing so call us at 9132867980. At number 9132867980. We have a team here retirement solutions group we know it takes a village. Come on NCS 91328679. 80. You've been listening to retire right with Allan Becker on the retirement. News networks. Investment advisory services offered through eight. LLC retirement solutions group is an independent financial services firm that helps people create retirement strategies using a variety of insurance and investment products. Investing involves risk including the potential loss of principal any references to safety security or guaranteed lifetime income generally referred to 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. Retirement solutions group is not permitted to offer and no statement made during this show shall constitute tax or legal advice. You 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.