Retire Right 05.07.17 Seg1.mp3


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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 -- 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 -- using a variety of insurance and investment products to work toward meeting their specific goals we are not permitted to offer and -- -- -- during the 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 -- a wealth management LLC. This these three tire right with Allen back here. And the retirement views networks may get most active. Allah is the president and CEO what the retirement solutions group. With more than eighteen years of financial experience Alan and his team will help preserve and maintain his client's way of life. And the legacy they leave behind. This is retire right with Allan Becker on the retirement news network. I its mega NASDAQ from the retirement news network as always enjoyed by Alan backer of retirement solutions group. And we're glad to have you here for retire right this is a great program we bring it T every week we talk about retirement and the issues that surround that if you're interested in cleaning out your retirement and perhaps you put it off well don't wait another day outing courage you reach out to Allen today hears that number it's 913. 68594229. In 3685914. To Allen's web site it's our SG. USA. Dot net you know the media they've labeled it a retirement crisis we've got to sit generation that if you believe the numbers and about to rattle off TO. It appears to be financially unsettled and largely un prepared for retirement and hear the numbers that tell us this listened and asked only about a quarter of baby boomers people who are roughly and that 55 to seventy age range. Only a quarter are confident they're gonna have enough savings to last throughout retirement only 55% of boomers report having any retirement savings and at all. And the percentage of baby boomers are satisfied with how their lives are going from an economic standpoint. It's dropped to 43%. That's today compared to 79%. As recently as two when he twelve. Only 20% of boomers are confident with their preparations for retirement. So talk about this today and discuss this predicament with Alan you see get up close and personal every single day. Welcome to show Alan. Meg I am really excited to use today show and I really appreciate you joining me as usual but this is a topic natural close to mammy I understand and work in this arena every day it but I. Don't talk about is that switching from the accumulation phase of the world of the preservation phase where. Helping our boomers owner retirees. And those trying to get your retirement transition. Was some confidence and you know raising two currently cub scouts 387 years old and guess as. Pressure in my mind as we had a cub scout meeting yesterday but you know. Even Rivero and as a child that motto be prepared as a as a boy scout I I think that wouldn't come on a plane is just some simple steps that we can all do. You gear ready to. Take on the the retirement landscape that 10203040. Years of unemployment that all's well will we. Finally change our our career to me and switch over choose the life for retirement. So that's really what we're gonna focus on here to help being relieve people's anxiety about their retirement savings and Alan I know you wanna show them. How much nest egg they're actually going to need to last year retirement and I think the first reaction for a lot of people when it comes to their savings is. OK well why should I say should I just kind of limbs right now here in the moment. How respond if you have a client in the office with you asking a question like that. That's it's. Funny one to me made you know I think about that question and it. I've I've actually a back cover additional clients CM only 43 so I kinda have that mentality if he dies with the most toys wins so the young man in me thinks yes spent at all we enjoy it. Who knows what tomorrow brings the financial planner enemy. Poli goes the other side it says you know you gotta pay yourself first you've got to think about the future because man plans god laps and you don't know what the future holes if you have eight financial plan and that tomorrow it's arrogant about it that you pitch you know you hit the statistics and as a married couple. One of the use probably don't live tonight before somebody is not married maybe only 8786. Those statistics are right on Nassau street but. Bottom line is if you live that long you need a plan or you're going to be worried about the number one fear retirees which is running out of money. Unexpected expenses are we talking about your listeners an idea of just how big the magnitude might be. You know we're talking about getting ready for retirement there's all kinds of expenses that we need to think about we need to think about our. Our needs her you know the things that we need a paycheck for recover things like. Food clothing shelter that kind of stuff that we also need to cover our late check things that we. Are once if you will of the travel to splinter the grandkids the luxury. Items and and what not so. You know life is something that we should enjoy and and be able to do the things you want to do and not worry and stress. Over the the unknown so having a plan. Can put you in such a better place here retirement solutions group we work with the roundtable retirement process so we've we've created this round they retire process to give. Our client families some direction it's a guideposts of what it doesn't mean if you're listening this you should qualities what is this that report is that we put together trees very customized individual to the people that we meet where. And it addresses when shall we take Social Security what is our pension look like when really plenary tiring inflation and taxes it's got to Merrill what happens at the long term care situation happens what happens you know if I vacillate prematurely and was my life insurance liabilities it to guide post you don't know what the future holds and he got to kind of reach back and look at this on a consistent basis and keep referring back to assume we've put together again this round they retire processed. To give people some comfort we hope that taken. Look at this they can keep coming back to us we keep referring to it and make sure that we're in line and if this is something that you want for yourself. Just give us a call at 9136859422. That's 9136859422. We'll gauge on my calendar will come and we'll see if we can find some common ground Tuesday to keep working and an expanding gay your questions answered we use your numbers put those of that report and there's no cost no obligation to come in and talk to us so pleased that 91368594. Tucci Ichiro roundtable retire process started free. Alan Wheat touched on the why behind saving for retirement. What's less clear I think is how much how large of a nest egg that you need heading into retirement I think that's probably did the 64000 dollar question maybe. More like that 640000. Dollar question perhaps but yeah you know retirement. Of those things where everybody has different ideas of two they wanna be a snowbird and and go to floor where airs on offer half year stay here and move to follow the grandkids. And then how much are they giving away you'd. Two children are true that your church and charity or just spending too. Keep mom happy Ellie say that what we set out what couple that there's three people in the room and there's only one opinion that really counts now is ask who that is and you most botanic guys understand it's a wife that. He goes opinion that really counts because happy wife happy life and this is our our parents. How financial planning anymore during the old years were mean I come from a military council my dad was I retired air force I. Ex navy. And you know a lot of our parents a lot of our listeners I'm sure grew up at you know Vietnam America World War II the Korean conflict in those years we we had more about authoritarian type. Mentality and how or in this 200201617. And on. It's more of you know caring society and more of making sure that. We're doing the right thing and she's. Things have changed a lot so. You're here retire solutions were raring appeared to taking care of that family unit making sure that. Both spouses know where they can turn to get the questions answered so packed year. You know you the 64000 dollar of the 640 dollar question is what's gonna cost. You have some fixed income coming in I Social Security could be pension can be an annuity south of the cabinet and there's gonna be cost such as health care. Average couple right pane around 200 dollars a month for Medicare supplement each their pain hundred. We've talked targets and generalities. We'll get into specifics here how individual circumstances and goals figure into the retirement savings equation. Every financial plan is as you is unique. As your own fingerprint so it's designed to the person or couple or unit that we're talking to so everybody is different desires and and values back I think so when your. Talking with some better when I'm taco somebody. I'm really looking at kind of a budget and then figure out what's important to them and they wanna leave a million dollars to their share a year they just wanna. Pay their bills and you know enjoy life and he who guy a's broke. Wins kind of thing or yeah so spend their last money air last penny what they're dying breath at last check bounces. Or they want to start with a as much as they had an everywhere in between if you if you get what I'm saying there it's it's. Unique in individually crunch those numbers and determine. Based on your budget based on your starting point. How can we get to the finish line in that most knowledgeable. And analytical way if you will in the sense of how these spreadsheets to work if they were using a 2% or 3% inflation if we understand the mortgage would pay it up at this time we understand that health care costs. You know maybe now we have more cost for insurance and later will be a medic or my hostel last who might have warned deductibles and my experience. Last 1819 years I know the answers these questions I know what questions actually and ask. And most our listeners are probably working with an accumulation advisor and they need to be working with the preservation advisor. Is this is resonating with you this is making sense. I can't encourage more to pick up the phone. At 913685. 9422. That's 913685. 94221. And what are you gonna lose from a no cost no obligation consultation. Where you're working with a financial professional that should. Be able to its year questions and give you the information that you need more credit and charge him for the advice come and talk to me 913685. 9422. Headlines proclaimed Americans are facing a retirement income crisis but awareness of the problem. That's only the first step you know ways to get ahead of the curve in your retirement income preparation. Find out what Alan tackles the basics of retirement income strategies next. This is retire right we've Allan Becker on the retirement. News network. Whether you're approaching retirement or already retired transitioning into retirement can be daunting really getting cum. What is the market drops how should you take Social Security. Joint retirement solutions group and are risky investments for a discussion about these factors and mourn. All well retirement solutions group treats you to a complimentary dinner at 801 chop house and leeway. You picketing at 6 PM on Tuesday may sixteen point Thursday may eighteenth at 801 chop house in league play. Reservations are required so call 9136859422. 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 RS team. Usaid dot net investment advisory services offered through eighteen wealth management LLC. This is retire right with the Alan Ackerman on the retirement. News network. I had mega NASDAQ with the retirement news network here with Alan backer of retirement solutions group. Alan can help you build your retirement plan if you haven't done that yet you're ready to get started. Begin this new year when he seventeen off right you can do that with Allen just dialed in today to get on his calendar. 9136859422. X 9136859. Ford two to his web site. Head on over to our SG USA dot net we're talking today about what it takes to get ahead and stay ahead in one of the most important high stakes game a person will ever play. And that's the retirement savings game. L a circle back to something you touched on in the first segment. The various places for people tend to keep their nest tag your assets it would be easy for someone to just park the money at the bank may be the savings account or even a CD but. That's not really good strategy right now. Perceiving toward retirement right. I'm using a compact disc out. Here on school up you know it's a radio jet where on the radio rats. So LCD. Is an option for a portion. When I Eddy a fairly dynamic or build a financial plan. One thing I'm always conscious of is there is a certain amount of money that. Sadly has come for having in a safe immediate place that they get to in it doesn't have to be. A large amount of money does this all that money can be somewhere in the middle you know. 36 months of your income is kind of the rule of thumb for a lot of us but I always say you know whatever makes you comfortable that. Safe number is 101050000. A 100000. What I do is I work for you so if you tell me. Agha a 100000 dollar ballot access to our right here what no risk to it. Mainly look at a CD for apportionment a look at a money market savings account by. GOP paralyzed by risk don't over think and want everything on the sidelines there's too many people doing that today. In what they're missing is just having a diversified balanced portfolio. And we use institutional. Investing we use active manager we do you have some passive strategies as well but the idea. If we can build. Your retirement landscape your portfolio to your risk so imagine the speed limit sign if you will if your drive in fifty miles an hour down the highway and you're OK with that that's where your poor polished be built. It should be on 85 year. Only comfortable at fifty you know and this way I was just do what about workshops the other day and there's a couple of them back in I asked him. Came a video sports car. And I said OK we got decent I got a hell cat that fantastic since. I guess that you check the weather report before you take currently produces you better. So well imagine if you could just go out on the road released that cat so to speak let it go out there you're driving down highway say a hundred miles an hour he sees some storm clouds cut. What he would do. He says pull over under the bridge major no rain hit sitcoms or slow right now I mean I've I'm gonna take care that it's exactly as we get into retirement. That story kind of means a lot because. We have put on the breaks a little bit we mean now want. To it might have a few different cars in the garage and into we're not gonna take a sports car out when it's raining we're gonna put. That it risk but this other crafts are daily driver that's where we're gonna take you we want Fallon to have a little more. Risk exposed to that portion of it. So what I'm saying is we bucket. The different dollars from different situations to cover different expenses to get this from a disease and we do it in a very methodical way. And that wraps it retire process that was mentioned we put that together we bow map book for area. And we haven't guideposts. The picture in front of a box where your you know when you're building a puzzle to refer back to right. And that's or donors or console refer back that. On our ninety day 180 DA reviews were set back in making sure are we on the right path as things change what do we need to modify or we still. You know hadn't towards the retirement in the most appropriate way force bottom line retirement as much or peaceful and you understand. What is and what what is the talk allies say hire days or. Requirement distribution or seven each UT are all these different initials and words and things that come out just keep confuse. A lot of people but it's or eleven I do it every day. And I'd love to be able to share my knowledge what our listeners I'm a love for them the comments and now a sneak. Go through the process and it's not ready just call and get invited to one of our. Numerous workshops that we do throughout town. So that the economy mean person and maybe answers some questions or are here the lives. With some like some other like minded folks whichever direction makes the most of them are you abuse give me a call 913. 6859422. That's 9136859. Before 22 let me go to work for you let me get your questions answered it no cost and no obligation 9136859. Before 22. Allen's web site to get registered for when his dinner workshops just go to our SG. Usaid dot net look for the events tab and you can get registered to attend one of his dinner seminars. Out Alan we're talking about a net staggered persons nest egg how to make that last in retirement how to grow its. Where do we look to get that growth that we're talking about here what are some ways to grow retirement savings. It balances beats. In your risk tolerance primarily and as a fiduciary which means have a series 65 and I'm. Bound by law I would say morals and ethics as well but I'm bound by law polish your needs first so. When I look at it and I am also hold two licenses I have a life and health insurance license like I had on and I also have the investment license investment advisors so whichever. Had a I've got on which always can encompasses the fiduciary. And deciding what vehicle based on what makes the most sense for you and that's the conversation to make sure you're on the same page and you agree with me so yeah. The mark of fifty years. Averages a good 10% so it's a great place to be good. You know the market comes risk. It comes with a adjustments it it can be one of those things that can be up 30% what you're down thirty the next we've all seen him like a 2000 and so you don't wanna be forced to have requirement distribution are forced to draw off of the stock account when it's down because you need to pay your bills. You know that Manger is no longer paper loss hate that phrase that's the accumulation advisor uses those but it would be it would be an actual loss could you need the money to. You know. You know I think ominous expand a little bit on this question if we back up for a moment and think. Where. Kind of our society's gone for a man. You know way back when we would go to work for the same company for thirty or forty years at the end of the rainbow we get two things a gold watch and a penchant most of us it give up Google watched. But Unionists would would furcal the pension guarantee. Money and an income stream for the rest relax. And we switched to a two income families than we had. You know that was a definite life changed for a lot of us it got more expensive in this world and keep them for the joneses and and the like. And then we are about somewhere in the eighties we get called down to the cafeteria. And they said you're gonna be rich and main street on Wall Street we're gonna eliminate. Those pension plans are we're gonna start with these oral and case. And you know fun fact that Culpepper tier plans this day because of the kind of aware they were presented and there's very few of us I believe the statistic is. 84% of people do not have. Pensions anymore it was still feel right. So for the rest of us don't have pensions we went from a defined benefit plan to a defined contribution plan and we used to tell about a foot Alley now. We know we came. Put away or we should be put it like. And then we're kind of laughed at that point what do we do. Wells is also struck an accumulation advisors we need to do is talk to that preservation advisors some like me can help you take what you've accumulated. Bill that year tolerance. And kitchen through retire at the best way possible utilizing whether it's insurance whether rich using. An investment public institutional investor that's actively managed. Whichever direction we go let's be based on what you need and what you want now I mean are what I want or what your current advisor need to what what you eat and watch. And that's what's. I think is missing in this industry each is too many people don't understand what why haven't lets us do they just get caught in the always in the media and say well that races don't annuity. Now usually it's the people as they don't land annuity are the ones that either don't offer that don't understand them or don't make money off of typically. In the statistics show that people that have them. Feel more successful retirement they tend to. Know where that money's coming from and they don't have the same worries so in summary retirement is about individuality. And building to be unique criteria of the famine and a working wet and that's what did you each and every day I trust that what we're talking about is resonating with her listeners and that you have grabbed depending your rate to come in and visit with us. I really owe it to yourself to keep this kind of information that should hopefully provide you with peace of mind what I'm talking about around to ivory tower process so covenant visibility 9136859422. There's no cost or obligation. You've got nothing to give up it's time to gain some knowledge I think it's worked every second. Chemistry 9136859422. And we are glad you're with us today I'm Megan must act from the retirement news network here with Alan backer here's his website it's RN SG. USA dot net. Alan IRAs 40 in case pensions and investment portfolios how all of those things figure into the retirement savings puzzle what purpose did they serve I think the easy. This analogy he used to make that simple understanding is do you wanna tax the cedar the harvest and we're in the midwest. Not a farming community suit me if you had the opportunity to to tax all the crops you. Built up over acres of land or just that handful CD probably choose the seat great. And a 401K or diary is a way to take some tax deduction now yes you don't pay tax on income but at the end you're taxing the harvest soak at a higher rate of delay or putting off the then the taxes for the future and you got things like Roth IRA that. Just just the opposite you taxed the handful of seed. And then your harvest is tax free but it really depends on you know make more money when you retire you gonna make less or you or vice Versa so that's where financial planner or somebody like myself comes and helps you do the math figure out the numbers of where things come together. Because. You know what. Which bucket of money you're using what time for what purpose. So many times have people come and visit Paris talking to somebody else in town and they're not addressing the quality of the money in the other qualified or not qualified and whether it's you know could be taxed at what level at what rate these you got to talk to your tax training that we don't give tax advice that we you have. Relationships with people that they you know have to do taxes on a regular basis and we can refer them to as a specific questions but the concepts. Those are. Just as an American taxpayer you need to know how those work we have the expertise. To assist in that arena yet you still gotta check when you're CPA to make sure that it's all you know doing what it's supposed to do. But you still have to of the guidance to make sure you're gone on the right path so. You know and not show all of these different monies and buckets are there to give you in Kendry tyrant to give you a paycheck when you're no longer employed. And that's what we need and that's what provides a peaceful. Retirement is knowing that you have money coming in is hitting the Maalox each and every week so you can take care of the things and the people that you want to. This is what I do every day and I'd love to assist anybody who is well on the pick up their opponent comments analogous I'll do it at no cost no obligation. Just give me a call 913. 65. 9422. In the 9136859. B 422. Even the best laid plans come up short sometimes. How can you lay a foundation of reliable income for your retirement I get next as Allen tells us how to reconcile your growth and. Protection strategies that straight ahead. You are listening to retire right with the Allen back here on the retirement. News network.