Retire Right 07.22.18 Seg 1

Retire Right with Alan Becker
Sunday, July 22nd

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. Hi Megan NASDAQ from the retirement news network glad to have you with us here on the program today I'm joined by Alan backer of retirement solutions group also in the studio with us sand bass financial advisor at retirement solutions group he can reach out to see an Allen and the team by calling today. 91328679. Eighty or log on to. Retire rate Casey dot com what's the most overlooked but potentially beneficial maneuvers that you can make with your assets leading up to. Or even during retirement. It's called all over and I heard about that we're gonna tell you in on some of the different roll over maneuvers that can really make a difference in your retirement. And the rollovers were here to discuss today. Dear kind that would for Borg at the right time the right way for the right reasons can help put you in your assets in a better position for retirement. Alan Etsy amber and talk about this today some of those maneuvers that could really bad if they EU if you happen to have a borrowing K and IRA may be. I'll life insurance policy even an annuity and I guess the first question that we've got to insert here guys is. What likely. Roll over in the financial context mania roll over is. A transfer of assets from one place is another it's kind of jargon in our industry so we wanna clarify. What we're talking about today and that's The Today Show we're gonna talk about why you should do roll over what he should look out for. And kind of the ins and outs of it so their roll over against electronic transfer from moving higher greater your 401K. In two something that's like. And another guy institutions so you're transferring and higher rate to another higher for a okay. Two another four and K and that B roll perform one place to the other. Yeah I mean I'm excited about this topic today it seems like you know this is a lot of what we talk about during our client appointments on a daily basis and you know when I was I was looking over the top picks for today's radio show and solid it was it was rollovers as the you know the information we're providing. I think this is great information that everybody should have. Indeed it really does affect a lot of people and were mostly familiar with this term early get a dig in today though with. What it is how we came and iffy you're gonna talk about the rules that apply in some consequences for not following. Those rules so. Seen an Allen weird to these rollovers actually happened you know what types of insurance products or financial accounts are we talking about here a lot. Situations come to mind in an cinema saying our client visits we'll have people coming with these issues. Daily so if you were to change jobs for example you have to make a decision do you wanna go with the new 401K. Or do you wanna leave your money where it's currently. Maybe you wanna look at doing and higher at this point so that you can maintain control of your assets is a lot of different situations that we'll come up but the most common is. Retirement. Got to figure out what to do with that forward care retirement plan. And we talk about this that are workshops. And happens to be chapter seven my book return investments or reliability of income. And what we talk about when we only go over the serious the idea of a lot of us man our First Financial advisor or retirement. Specialist because we were trying to avoid 10% iris penalties. For taking our money out of our retirement plan which is one of the pitfalls if you were to move that money incorrectly so the idea that. If I take the money and comes to me an animal under the did you figure and a half. I would have a 10% higher penalties so a lot of us to avoid that would go out and find this First Financial person. Well these days what people are looking important is not just to avoid a penalty but actually get a plan. And that's why here retirement solutions group we've created the proprietary roundtable retirement process to help people. Navigate to enter retirement seek financial professionals are specialists not just in. The accumulation of assets but guys like Sam and myself we specialize in the preservation and distribution of assets. More keeping our money and making sure we don't outlive it rather than just worrying about the rate of return. Absolutely I mean it's not necessarily the return on your money but it's definitely the return of your money you know which more which is more important Jr. retirement years we will address that number one fear retirees which is. Running out of money. So let's talk about this little bit more year Allen in C am and what first roll over maneuver that you think people headed toward retirement should be considering. Well let's start with the type of retirement savings accounts and a lot of people and our audience probably have which is you know what we've been talking about the 401K. C.s which employers and in many cases you'll have an opportunity to roll the assets from one employer's 41 K to your new players world can possibly. On the if you like that current for a one K then depending on the employer you may want to be able to leave your assets there as well. And fortunately though that gives them it can take away an advantage that you have opened up seem normally we can only get to our 41 case win or they're fifteen and a half or all talk right now separation service if you can put it into a another 41 K even if it seems like it's a good 40 in case you are giving up the ability. To have. The whole world at your disposal in other words of Borland GA only has certain holdings available to it. And a lot of them do have a lot of hidden expenses that you may not be aware even though they're kind of hidden in plain sight rain Erik there in front of you but the truth is if you. Move with a higher today. An individual retirement account you actually got to count you have control of what you invest it and and you know the whole world is your oyster so to speak. Senate just having what's on the menu of the 401K. Yeah I mean I was just reading a study on grant that stated 71%. Of participants for a one k's didn't even know they paid any moral victories. To me now. Let's say for instance here you save 101000 dollars a year for thirty years and here for a one tank if you averaged 7% returns anyway. And pages point 5% annual expenses he'll finish was about 920000. Dollars of save which is a pretty good sized plastic. However if you about that point 5% up to 1% and annual fees that total drops from 920840. And you know it's if you're looking at 401K you know I'm beatle funds that are in there and you end up. Picking you know I. A mutual fund has 2% annual fees. That knocks here your nest egg down from 920000. At the end of thirty years to 700000 that's that's quite a difference just in fees over thirty year period. Dramatic having the topics were talked about today and our listeners are certain things and finally get more information well. We're opening up our calendar to the next ten collars at 9132867980. Because we want you have access to our proprietary roundtable retirement processed. What one of the things we do on that. Is look at eighth he report inside that. Fees and what are you truly hangs in the you can have a good visual. Of that to make decisions coming knowledge is power and the more knowledge we can provide for it. That much easier to make decisions that are gonna have a lasting impact as you. Take that journey to enter retirement so don't wait another second pick up the phone and give that number again here a second and give us a call sometimes the toughest part. A starting the process is that phone call. Knowing who to go talk to knowing where you can get that information so give us a call 913286. 7980. That number again 913286. 7980. Let's get you hearing get those questions answered 9132867980. You can always find out more about retirement solutions group online go to tier retire right keys seed died con. That's retire right Casey dot com and see other rollover maneuvers involving a four Owen Katie you'd think are worth considering. There are 01 is take assets and sign up for one can't handle them over into a traditional Eric. I mean Aslan so we talked to a lot of our clients about on a daily basis is what you do with those old for one k.'s have been land around you know if you. Left to previous employer and you decided not to rolled up 41 K over into your existing. Employers for a one can now what do you do that if you're not working at that company your money should work there that right now. A -- let me you don't know the things you knew when you're working at a company that I want caught insider information but it really is coming when your attic company you know what's going on and you lose all that connection with the employees. And just the general. Overall tone of the business when you leave so. Things can happen that can affect your Miami I remember meeting with the lady. This has got to be about ten years ago and I went out visited with there and she was telling me how much she loved her company and she would never leave it and it's been doing fantastic and everything was amazing. And I remember I couldn't get her off that that topic in it was. Very concerning because I've always been told you know you don't believe all of your money inside your retirement plan or your 40 okay inside one company. Enron's taught us that all these but this lady she was just she was not gonna make a change unfortunately. I think about her role once a while because that company was British Petroleum and they had a heck of a leak. Over the gulf and I know her stock has dropped him immensely and all of her money was one place. I don't want that to happen to our listeners you've got to diversify retirement you've got to know your options are we get to know your choices are. So that you can you know make wise choices in retirement. And seal it rolling oral and K assets into another type of RO way of Los irony is that an option. Absolutely I mean a rock Larry is a fantastic option for a lot of our listeners it's also a over utilized option for a lot of our. Listeners know what I mean by that is sometimes we think tea Roth has a great opportunity to. How attacks remain in retirement we have to look very individual situation because if you're going to make more money now than you are retirement. You may not want to look at Ross maybe you need that tax deduction now I would you know putting those monies away either and higher for okay. And that Roth IRA I'm you're gonna lower tax bracket later. And it makes much sense the other thing is that people don't think about it you have to have the money are you really should have the money should say to pay the taxes on the money you put into that role over because otherwise you're you're missing a lot of the benefit. Mean if you move a 100000 dollars into a rock. Well you might have 20/20 5000 of taxes to be paid it's better if you take a 100000 dollars make at all tax free. And take only 75000. Or to be tax street has yet to subtract taxes from those dollars. And a lot of people these days don't have as much non qualified money or monies that they've already paid taxes on just laying around in the bank to pay those taxes he got to look at the the whole picture that's why Sam and I will recommend sitting now in a financial professional and when I sakes and now financial professional. I mean a fiduciary somebody who has a securities license that is a series 65 or 66 licensed. Individual and we would go a step further to say they should be duly license with a life and health place and selling that can cover. The whole gamut of issues that you need in retirement. And that just senate right around around that retirement process which is five core areas. And now we're gonna let's go over that list with you so you can use and understand what we view week help you with the income plane making sure your money lasts as long as you do. With your investment planning where we can look at the greater returns and building that portfolio. Two year unique risk tolerance. That way the portfolios matching what you need. Not just it's an index eighty S&P 500. We also look at tax efficiency we want a mixture you the most attacks efficient retirement plan so you're not paying more taxes in the law demands. Then the and other areas legacy planning. We do have an estate planning attorney right here in the office. So that we can help you with your wills trusts durable powers of attorney those things but also just making sure your assets go to people places you want. In the most timely manner in attacks fit efficient manner. And then finally health care. Whether you need. Medicare supplement Medicare Advantage plan B prescription drugs street view that every year. And make sure you have the best plan for use the what's the most reasonable cost so that you you know how to make it to enter retirement have all your ducks in a row. These are all. Parts of around to retire process so be one of those next ten collars at 9132867980. Common NCS we're gonna help you make it to enter retirement. 9132867980. 435 and Metcalf 9132867980. If you wanna maximize the money you have learned a 401K or IRA there are other rollover maneuvers you need to know about we'll tell you about those up next. This he's retire right without linebacker 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. Explain join us for one of my upcoming complimentary dinner events picked that date it works best for you we have 6 o'clock on Tuesday July 24 or Thursday July 26 at. Reservations are required seating is limited so call now 9132867151. Learn about retirement planning process and gain insight into today's retirement strategies. 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 and it hasn't been generated an eloquent investment advisory services offered limited Richard individuals to me wealth management policy. This is retire right we talent back here on the retirement. News network. I agonizing here from the retirement news network alongside CN bass and Alan backer of retirement solutions group. You'd like to sit down with the team at our SG to begin planning for your retirement their phone number 913 T wait 67980. Here it is again I went 328679. Aids hero great website as well. Go to retire right Casey dot com. We're talking about will oversee day so. CME given us three rollover maneuvers involving borrow and k's and IRAs. Another fresh to consider. So I talked about so far as you really have three different choices when it comes here 41 K plan. You can leave it UK and move it where you can convert it I mean those are really your three choices when it comes to all 41 K plans. But once again kind of wrapping up. Police talked about last segment is you know if you if it's of an old for a one K and you don't work for that company anymore your money should work their answers. So it's really looking for somewhere to move that to have a little bit more control over your money where we were talking abouts. I race and roll over ring ruling that over to a new hiring plan. To have more ability in more control in order to look at different. He's been asked to meet your purpose right I absolutely I mean you know the purpose of those dollars what are you really moving them for me just. Setting in and year existing borrowing K. Seems like kind of a mostly case I don't know I'm doing with that he had I don't really knows let's just put it there because it's the path of least resistance speak. When you get with a financial planner and you're doing it for purpose figure out Allen retire in ten years fifteen years five years whatever that. Timeframe is. You can build that to a purpose and something I I need. Elaborate a little bit is the idea we need you to a Roth conversion everybody you can't touch that money for five years. Another thing to look at though is when you move from a 41 K. You also lose the ability to access that money if you're gonna retire. Before the age of fifteen and a half and access them money so in other words if it's in the eighth or when K you have the ability take. Income out of that 41 K at the age of 55. If it's in and I are saying you cannot. Have access that money except for special circumstances. In less your fifteen and a half or older so. Beginning with the planner and figuring out your past is so crucial at this juncture because you want to make the right decisions one of those decisions. That we're gonna talk about now is the idea of utilizing. An insurance product now. You this is why Sam I talk about you need to be working with some of it is duly licensed who also is an insurance license is a lot of us can get on line and we can. Me and your own finances and put stuff into. I'm online platform maker on trades but when it comes to purchasing insurance products you have to have a license to do that on hero. So Sam and I are both life and health license and have this ability what am I talking about a talk about utilizing. An annuity if they'll geared to income you have is not sufficient enough through Social Security. To a pension if your fortunate to have one or maybe the pension you have at work. Could be done better by using day and a newly on the private market and that source MI really specialize were able to go out there and find plans we've. Run them all day long for people where they'll come in and say you know I've got this lump sum that I can give it work or can take this immunization payment stream. And we were just working with a nice couple today Allen and Mary and it was great but. Big concern is does them was they are married yet so all the spousal continuation options worn on the table yet because if he takes a an annuity through work for attention he wouldn't get any of those spousal benefits. If he died in a car accident the next day. There's no legacy for the kids but we were able I should say we Sam actually did the calculations on this would you planets and. So we were able to take that lump sum and provided a an income for them and if they are to get married any time between now on the next decade. They have that choice to turn on a joint income as well also that income alas both of their lives. That also provided them with the legacy. Which was another thing that her lump sum through her employer was not gonna provide. So we're able to still have a lump sum benefits later on if both of them were too. Prematurely deceased that money still gonna go on to be a legacy to her church years her charities for children who oversee one of them might go to. Which is all the great features. And all senator around the the biggest objection that they had and I think he's real important to address today for our listeners is. That some people out there to learn duties are bad. And we hear this all the time and annuities are not for everybody but when you're comparing apples apples you got to compare apples apples. If so where fiduciary tension we are legally obligated to do you need and what's in your best interest of your comments and I got a pension of 18100 dollars a month. For the rest of my life. We're gonna go to the drawing board and find a way to guarantee you more than that for the rest of your life if we can do better when I can't put that in the market. And offer speculation like we might be able to do it we won't use or guarantee and I can't do that with my securities I have to bully insurance. And I think in today's you know world we we understand there's also going to be clients I wanna have more money at risk and an annuity provides safety and guarantees to them to allow them the benefit. To take that money that's on the market and maybe take a little bit more risk than they might not normally take knowing that they have that guaranteed income coming off the new lease. So there's no right or wrong way to do it for everybody that we have to always do it. Looking at the three tasks if you will there's a fiduciary. Test more tyra qualified mine it's. Absolutely has been your best interest there's the best interest standard which basically says that this is senior mets' interest and is a suitability standard. Which is this is suitable for in suitability is the least. Rigid of those three standards there is some overlapping if you will. But the key is to make you work on some understands us three standards is looking out for your best interest and making sure that it's. All wrapped around fiduciary approached. That were doing what's your best interest first. Shall we're talking about today is how to make that journey to and their retirement and doing the past way. That is the you know for you in your family and the only way to do that is to get all the information. And we have. Proprietary program here retirement solutions group called the round to retire process the next and collars on today show we want to make sure you have a Frontline. Seat to our calendar. You can get that by callers 9132867980. You have an existing in the do you want us a look at. You're considering and you mean you let them get a second opinion or maybe you just want some clarification our duties rate for you whatever the reason. We invite you to come on in and let us. Help you on that journey to enter retirement 91328679809132867980. Unsealed the 401K to a new Eddie rollover work. Well Farr Owen Cano and annuity. It's exactly like any other type of roll over. Except it's an institution to institution type. Situation. And when I mean that is when you you know just you know say sending the checks her my a hire a distribution or 401K distribution and and then you go find an insurance carrier near and in the chat. That can be taxable situation needs to be light to light in it needs to be institution to institution to avoid any taxes are horror concerns. So once you talked to a financial advisor or an insurance professional we recommending and that person B one in the same duly licensed. But once you talk to them. They can. Thought the paperwork and assist you so that we can take the responsibility. Of that make sure it's done correctly. We have seen a lot of us strange things out there I mean we recently had somebody. Come to us and who ended up working well thus because there were her show came in are asking questions like. Trying to move the money and they didn't realize the advisor they were with should have been. Running the paperwork and doing it for them they were trying to get them to do on our own so you should just who worked for summit trying to make it commission you working for somebody that understands what you're trying to accomplish. How it's gonna work and who knows how to do the work for you because this is a relationship business and for the next. You know well not the next I guess the rest of your life you're going to be common back to the offices may be quarterly semi annually or annually. And reality king and reviewing that annuity because when we look at annuities wanna make sure they're doing what they're supposed to for him. And I think at the end of the day you've got you've got to know why you're using an annuity we run it it's human mean you know potential clients on a daily basis that that come into our office and they're not quieter. Why they got an annuity in the first place you know it an annuity is there to creates safety to create guarantees to create income and retirement. Hopefully in town that's just want. It absolutely it's your sleep well at nights. So. But it and then like where we were saying earlier it allows you that ability to take a little bit more rest on that money in the market because I think we were all in now a little nervous earlier in the year the way the market was acting. So this money sitting in this annuity in the safety giving me these guarantees allows you to you know to sleep well at night in know they weathered the storms thing. Absolutely whether whether that storm. Because I'd say at the end of the day we wanna sleep well tonight as well. And taking those annuities and providing those to our clients and explaining the reason we're using those helps us sleep well. Nine as well and also keeps our phone from ringing in the market drops you know 724. Points and today. And you know it's that's an easy memory remembers my birthday is July 24 so I can remember those three numbers terrorist in my life but you know markets got out they eloped. Being in the market is not a one day activity year in their for the long haul seed have to be able to have the personality. And the you know the wherewithal to be able to make it through those changing pace that's up for everybody. That if you're one of those that doesn't like the volatility of the market. You should really take a hard look at an annuity. You can't. Don't listen to the radio watch TV listen to your friends who say. You know. Maybe annuities bad win. They don't know what's in your head and what your situation is so gone back what Sam said annuities are first safer dollars to give consistent and come through your retirement nothing more they're not to gain all the ups of the market there too. Eliminate or limit. The bottom. Of the markets that you don't go down and if you don't go down you don't have to make up from those losses because remember the market is compound losses and simple games takes more to get back what you lost when you've lost it. So we're not saying their paper losses their actual losses when they got out. You have to game make even more to give back where you came from one annuity is right for most people. If they've got other dollars for accessibility liquidity and they want some money to create her own personal pension if you systematic guaranteed income for the rest of their lives. Other retirement is tolerated upon you. Close and hander distant reality the goal is the same to keep as much money as you can in your own pocket. We have choices and control your own financial present and future but that doesn't happen by accident. Well you need is a well thought out strategy for retirement. Developed with the help of professional who understands the big picture win here among the first ten who called 9132867980. Right now will put together out customize a roundtable retirement review just for you which includes. An honest evaluation of how much you have saved for retirement how much you risk your assets are exposed you. Your retirement goals how much income you might need to support those Eagles if you want to feel more confident about your income and your financial well being during retirement don't pass up this offer our analysis is completely customized based on your unique circumstances. But it's limited to listeners of the show today if you saved at least 250000 dollar retirement. Column 9132867980. Now to get your own round table retirement reviews started that's 9132867980. There're only a couple appointments lasso don't put enough call now 9132867980. Rollovers aren't just for retirement accounts are also for people who have certain types of insurance we'll tell you what those rollover maneuvers are and how to put them to work for you on. You are listening to retire right with the Allan Becker on the retirement. News network.