Retire Right 06.18.17 Seg2.mp3

Retire Right with Alan Becker
Sunday, June 18th

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

Do you. You're listening to retire right with Allan Becker on the retirement. News network. I'm Megan NASDAQ from the retirement news networks here with Alan backer of retirement solutions group we're glad to have you with us today on the show. If you're ready to begin building your retirement plan if that's something you've been putting off well now's the time to reach out to Alan and get started. Here's his number it's 9136859. Ports UTU. 91368590. Port 22 you he has a pre new website for you so I don't overt tear re tire right Casey. Dot com. Today we're discussing the importance of independent thinking when it comes to our money and our retirement strategy Allan we talked about a lack of income how that might force people at retirement age to keep working whether they want to or not. It hardly seems appealing you know you worked so hard to your career and I think he probably won at call your own shots financially right. I you know it's amazing how many people on the seems to be kind of here towards the engineers sometimes but. People comment in and go to our routes they were entire process start working with us but really the biggest goal in mind is to say you know I'm 6263. Years old maybe 65 and I'm. I'm not ready to retire but I'm not happy or if EO. I want to be on my terms I wanna be able to say I have the ability retired now so there's ever a day at work or somebody comes in and upsets me. I can just say you know what ever talked in my planner on video I don't need to deal of this and I walk and that is changes. A person's persona they tend to walk taller and and shoulders back in these. They go to work knowing that they're working because they want to not 'cause they have to I think that's what you're talking about their Megan. But there are a lot of people that want to keep working in retirement there's still viable part of society they can. Whether it's consulting or whether it's still working at the job they are but that's worse so important to make sure that you understand where your diaries fit and and that you're not creating a whole tax. Issue on the backside and knife and I would over the last forty years. The industry's kind of change that what people are looking for used to be. We debt talk about. Retirement people be worried about running out of money but after nine years of Opel market. We tend to have a lot of concern once we address the income of being tax efficient and if you've ever paid attention to the tax codes when you lose a spouse and how nobody wants to think of themselves passing but if you bid. Where does that leave your spouse they get higher than to Social Security's. They end up with. All of the IRA which we. Comes in with force distributions. And that tax rate shrinks and half and that can take you in a situation where you think your spouse has played to live on if you didn't address long term care in their somewhere. You can actually spend a big chunk of it down before you pass to. Your spouse can either run out of money not have enough or after paying all the taxes be left with less than what you had planned on so. We really need to make sure you have a tax efficient. Plan as well as just making sure you have enough income. As well is just figuring out what year rate of return as that's why here retirement solutions here we think our line retirement. Stands for reliability of income consistent reliable income for the rest of your life so the you know you will not run out of money. But that takes an insurance license along with the securities license you can't guarantee anything with. With the in the securities world you can. Projected in you know past performances and indicative of future results but that's what we have to look at as C hey are we how we allocated power we diversified. Are we building a good or put it a good strong team behind us and that we've created. We feel we can do really good job there pool we can't give you absolute certainty that you won't run out of money if all you're uses is the stock market. But when you throw in some insurance products and you transfer that risk over there we're pretty confident. That we can get you now into retirement put through retirement. But you have to use the insurance license to be over and a tape accomplished those types of guarantees. The number at retirement solutions group. 91368590. Port 22. You know Alan we spent a lot it's a nation talking about how that establishment. And might not be exactly on target right other telling us to handle our retirement how they're asking us to handle our finances. You know I wanna talk about annuities because that's something that I think is becoming more popular these days with the demise of pensions how are they helping in this income. Issue meg and it's one of my favorite topics as well because you we've as a society we've gone from a define. Benefit plan where we were expecting that pension. To a defined contribution plan or we define how much we're gonna contribute each year so that we can draw from a but no one's really telling us how to define our benefit how do we create our pension. And that's to your point where new east. Really can't fit for many people's retirement planning. But if you're only talking to somebody with the securities license or. Somebody that's working in the securities industry that maybe in the new world here Haston. Act as a fiduciary and may or may not know what that means because they don't hold a fiduciary license you may be getting advice. For somebody who's not licensed so we'll be an example. Imagine going to a financial professional. And asking them hey should I buy long term care insurance and that person answers wit. I don't think so it is you've got enough assets. But yet what if they're not holding an insurance license would if they're not able. To resurgent right long term care policies but yet they're giving you worry spots where somebody's telling you don't buy an annuity. But yet they're not licensed to sell them. And that's a very big concern of mine his people in this world. Give advice without being. The license in the area that they're talking about and that's you don't get that with retirement solutions your purse to investments because. Were licensed in the insurance arena which gives us the ability to help you with your health insurance your perception drug plans. Your long term care planning as well as. Life insurance and life insurance tax products which in duties fall into that arena. With our series 65 license gives us the ability. To do investment planning give investment advice and wash U2 went through retirement if you need help with your 40 okay. And how you should allocate. Bring that information and. Where fiduciary we can help you do the allocations. So we're not gonna leave you high and dry where I can answer just. Half the information we're gonna address how everything works together so you can make it through retirement. And we will do that. At no cost and no obligation cumin and CS and make sure were good fit for you. Call my team and I went 36859422. That's 913685. 9422. The website at retirement solutions group tech out go to retire right KC dot com that to retire right Casey dot com Elena as quiet annuities seem to have such a negative stigma I mean if they can really help people meet their income needs why are they get a bad rap. You know that's pandora's box may well let's go into it I think it needs to be addressed and I have no problem talent everybody is the simple thing is if you're a financial advisors somebody who gets paid. By people buying and selling stocks mutual funds and alike or financial advisor where you can do and assets and our management model where you get paid a percentage based on the assets. That your client brings to you now a lot of those people going a step further. Are working with a in a broker situation. And what that means is the broker tells them what they can't he can't offer and it's very important understand that when you're working with an independent fiduciary somebody like us. We do what's in your best interest there's nobody's back here's any care can't use those products or solutions so when you're talking to somebody who doesn't have the ability to offer annuities or even. The best news out there because they're brokers limiting him or somebody who doesn't hold an insurance license. And isn't able to offer those because they're not holding that license. They tend to give advice and tell you hey you don't need an annuity because why would I want you to go talk to somebody else why would I want you to take your business away for me and why would I want you to find out that there's something out there they can eat due to gains in the market without any risk that'll pay you when you run out of money. And give you the peace of mind you know you have income for the rest of your life and you'll never ran a money obviously as a person that does not hold an insurance slices they're not gonna want you to do that's a lot of the bad rap. Is coming from media and positioning rather than fact you really have to sort through the fact vs fiction. And make sure that you understand how to knew he would work how would it work for you. And are you open to that concept but I also understand annuities are necessary design as a legacy vehicle that's where life insurance comes and when we're using an annuity we're using it. As you stated earlier may get as a pension type replacement as they wait to create additional income and retire. So most of time it's not about the beneficiaries or working with annuities we're working with the new he's decrease the income cash flow for the retirees so they can make it too with their retirement. And if you understand that those dollars are used for those purposes and higher raise a lot of times that's what they're for. Is to give you systematic. Withdrawals I mean forced distributions happened at seven in half. So when all these things work together we can create a plan that makes it. In the gives you the aid road map and guide post to get through return that's what our roundtable retirement processes. Very important. To understand how all these pieces of work together so. Mean summary at the annuities are getting a bad rap because the people that are giving the advice typically. They're out licenses in the product. And they're trying to get you did not go look at it by telling you that you trust me don't go look at that because if you gave your probably gonna go somewhere else. And that that's not a good reason to be told that the bad product it sounds like if we called annuities something else people would be a lot more interested in them my right. Oh yeah I tried that he price or less caught up and outlets call a pension and you know the truth is they've changed dramatically I mean if you think the annuities five years ten years ago they're not the same as what we have today. The old annuity where if you guys they keep your money and they exist but nobody really uses and many more. As a few. Proprietary your captive companies that that's all they allow that the independence and it happened Jonas almost forty years and I believes that type of annuity. Maybe twice in twenty years and it had a specific needed situation that made sense I like the abilities that. A Swiss army knife that you can use it for lots of different options you can take him com you can let it grow for legacy can pass that you can. Stop the income start in Camby you choose the investments with the indexes that the carrier offers each year over eleven album. So there's so many different options are we work with thirty different I knew he cares so what we're gonna do as a fiduciary is find the best solution for what you're trying to accomplish and that's what it financial planning it it's to give you. Some direction. And you need to be with a financial professional to dressing on your concerns so if you pick up the phone if you're the next ten collars were gonna put together. Our roundtable retirees view. Put you through our process at no cost no obligation addressing in complaining here investment planning tax planning legacy. And health planning and let's think let's talk about tax claims that the government always seems to want again. Some of our money here right we help you implement tax planning strategies to keep their shared a minimum legally. Ethically but this includes hiring exit strategies surviving spouse planning which I can't tell you how important that is. We want to make sure you can make it to answer retire in the best fashion possible. But it all starts for the phone call call my team. It on our calendar in 9136859. Before 22 that's 91368594. Tutu real easy to get to just a block off for 35 and Metcalf century located come see me today 9136859422. If you're like. Most Americans you value your freedoms what can you do to stay on the path to financial freedom Allen talks financial independence and retirement when we come back. This is retire right which Allan Becker on the retirement. News network. Whether you're approaching retirement or already retired transitioning into retirement can be daunting thought. Really you get income. What is the market drops how she can take Social Security doing this team from retirement solutions groups and IST investments for a discussion about these factors and more. All while retirement solutions group treats you to a complimentary dinner at 801 top house in Cleveland. You take fifteen to 6 PM on Tuesday June 24. Thursday June 22 at 801 top house in the league was. Reservations are required so call 9136859422. To reserve Dorsey today that's 913685. And 9422. Seating is limited so call now to learn more about these events and how you can attend. Retirement solutions group 9136859422. Or online at retire right Casey dot com. Investment advisory services offered through eighteen wealth management LLC. You are listening to retire right with Allan Becker on the retirement. News network. Hi it's Megan NASDAQ from the retirement news network I'm here with Alan backer of retirement solutions group if you'd like to set strategy session up with talented talk about your retirement if that plan. You can dial him today at 913. 68598422. Again nets 9136859. Ports due to. In you're always welcome to log on to his website it's a brand spanking new coterie tire right Casey. Dot com you know Alan today we've been discussing how it might be a better idea to make money in retirement decisions on your own and start to tune out some of what we hear the establishment tell us you know. And we mentioned how were really a nation that values independence you know being independent in our spot and actions we preach individual rights and freedoms how I think those values figure into our financial heights Alan. Only if that's a real timely question because you got to make sheer. That you're working with the right person that you understand the questions that you need to ask as a navy veteran. You know there's times where I hear people make him. Strange comments sitting at the National Anthem I was out that celebration at the station tearing Memorial Day and you know everybody withstand an apple we're. Do in a moment of silence for the troops and there's a guy direct to my left sitting in his chair in you know at first it upset me and then I remember why served. To give him the right to sit there and not stand because that's his right well when we're looking at a retirement planning you're an individual. And you shouldn't be with just some big box how's that everybody gets the same thing you shouldn't. Potentially be with a captive company where. They only have limitations on what they offer or broker that's gonna say what you can and can't have you truly need to be with a an independent fiduciary in my opinion. Somebody that's researching. Figuring out what else is out there making sure that they're bringing you the freshest ideas what's available. You know I get it but there's a lot of people out there that are that are company men and women they've been with the same. Financial firm and I think independent brokerage. For thirty years twenty years will where he's at their loyalty lies. They have to acting your best interest. With the products and services that that company offers but if there's something better out there they can't just quit and go work there because. Their whole world revolves around that company they've been live for. Many many years that's why I've chosen the independent path so I can truly be about peak serve my client family. And take care of their needs and help them get to enter retirement and that's what we wanted you for our listeners here is make sure you understand. What your options are questioned the status quo. And make sure that you looked at everything that's available. From a new mideast to. Institutional platforms and money managers to making sure that your portfolios billed to your risk tolerance so you know what dollar your Poland. And how much you can poll to. Make it through retirement when. Outrun and out. Alan that's what we all want so. How early discern where I can happen. That's doing it. Absolutely and if you're ready to make that happen here's Allen is number 29136859422. That's the number every tie iron and solutions group. Alan what about trying to figure out where a financial professionals. Interest lie you know they're really looking out for me what are. The considerations is other captive it and I give full disclosure I was captive for over ten years. And what that means is when you work for our company that you have to use their products and I kind of referred to that a lot of us do is drink in the company cooling they. They tell you that they've got the best products and you don't wanna go out look at anywhere else because if you did you might find out something's better and and you can really can't just. Maybe it's very difficult to just change jobs because. You found something better and the way the laws written today this may change but the way it's written today. Is if you are using the best product or service. That the carrier you represent offers year acting as a fiduciary. I don't feel that's the definition of fiduciary but I'm not the government I don't make the rules. I feel that the fishery has stacking your best interest. And Eric and if there's something better out there you need to know what it is so that's the limitation of somebody with captain I give you an example. Just the other day I am about to have a birthday coming up. And I was at the end DMV giving my driver's license renewed and considering your high you get to sit there for about two and a half hours very tacky. The most by the fun thing to do but the people behind me at brain into you somebody they knew who was in college going to veterinarian school also. And it's going to be future young professional. And they were talking about. There son and that's kind of overheard they were explaining how he can get a life insurance policy in and borrow from and in the future get tax free income retirement. And even if they wanted to take all the money out so when I heard that stop the turnaround exit excuse me I just. Heard what you said wholly agree with you except you cannot take the money out of that policy in the future review and paying and after twenty years and I'm borrowing against their dissect eat take all the money now. All the taxes are due and that can be a very bad that day then so you need to consult with a financial professional. Before looking at options like that they're like I didn't know that or appreciate that and so you know we got to either son just graduated from college in his start with you know big name captive company. But they were limited to the knowledge they had and they were providing that information not licensed but just two people talking at the DMB got to thank. And that's what happens we did. Ideas it's you know in the navy these you know we always have loose lips sink ships Siskel scuttlebutt. To the water found people just talking over the water out as just an example of that just the other day Indy you know if somebody. It took that advice and took that product in the later Don that they can end up with 2300000. Dollars. In tax liability and a single year because of something they heard back way back women and didn't know how that actually applied. So working with a financial professional has the experience. They can prove do you explain to you what's going on why should be doing the things you. That just it's worth its weight in gold so I'm going to encourage. You if you take the time to listen due to our show today. Or listen one of our shows in the past. What he just turned and honor our you know flipping through the Dow hopefully we says something the catcher interest. So I wanted to offer you a no cost no obligation roundtable retire her review. To look to your income planning your investment tax and legacy planning. Also we can take you to make sure that if you have questions about Medicare health insurance we can even help their two that we do this solid no cost and no obligation. Comet 9136859422. That's 9136859. Before 22. Allen's web site tech data as well at retire right Casey dot com and as we mentioned Allen has dinner workshops he holds these all year long. And there are held at great restaurants right here in the Kansas City area if you'd like to attend if you'd like to. Sit down with Allen have a great deal meet other like minded individuals heading into retire. And find out about Allen's philosophy for retirement income. You can go ahead and visit that website again it's retire right Casey dot com and find information. To get registered very simple. It's retire right TC dot com. Do attend one of Allen's dinner workshops Alan you have any additional suggestions to help people figure out of their financial professionals actually working with their best interest in mind. Omega in this is an inch or sting. Topic in today's society because we hear an unprecedented territory just recently on June 9 they have come out with what's called the fiduciary standard now. Big federal government's not toll enforcing this till January of 2018. Under its current ball the way it's that's been presented. But everybody has to act in the position that. They're putting their clients' interest. First that is. The definition of what's called a fiduciary standard Mathers ardea license and some governing bodies that that follow through so here retirement solutions group myself and some of the other people in my office hold what's called a 65 license series 65 which makes us of this year. And you can check here. Person you're working with in a couple different places there's a thinner and a broker check dot org which he would check to see if they holding fiduciary license which would be a series 65 or series 66 or you can go over to. And check the insurance commissioner's website at your state. And find out if you're person's license in that state and those links are on our web site. So you could just go over there and find the broker chuckling there as well if you didn't. If you're driving don't have time to write that down. But it's important to find out because a fiduciary somebody that's not falling under the issues David actually is a fiduciary somebody in that standpoint. Has to disclose where they invest their money they have to disclose any legal issues any tax issues and they have to pass a background check they have to update there ADV each year which tells you what their interests are conflicts in Mac passed saying and just their investment experience and history everything's there. Somebody today who's working with what's called qualified money that would be some of your IRA for what came forth through they're recommending you. Either move that in the market or your moving that into an insurance product if you want more safety for it. Or even just go into a bank and putting it in two a CD you're gonna half to speed disclosed these days. And a statement says they're acting in a fiduciary capacity and explaining what that means in in a doctor be off the side that's new. As. June 9. There's also this suitability standard in that just means that it's a suitable option for that's. Or what's gonna fall for your non qualified money where you've already paid taxes on it and needs to be suitably F to have enough liquidity. Things of that nature so you really need to ask whoever you're talking to what are they license them. Are they license and insurance and analyzes and investments what's light which licenses that they hold figure out what those mean and then find out if they are a fiduciary out all of your funds qualified and not qualified like we are here retirement solutions group. And that just disclosing. That this is why they feel it's in your best interest first is being held by a standard legally and ethically. For required to do so such as that would series 65 or series 66. License. You know. Requires you to do then figure out if their captive. Or if they're independent. Are there where the broker dealer. So confining out of here with an independent finding out if their captive and finding out how they're true or license those are the keys that you need to take away from that and I can promise you hear retirement solutions Europe and arched investments we're an independent licensed IAR. Which means where fiduciary we can give financial advice. We also hold an insurance license which means that we can help you if you wanna transition over to safety if you wanna look at long term care if you wanna look at life insurance. As an asset class or just a pair plan or whatever it is you need to address make sure that your existing policies are doing what you're supposed to do whatever you need. We can put you two are around there retirement process to review with you. And help you figure out the solutions to those questions that's what I do each and every day and for the next ten collars. I'm gonna do that for you call me now 913. 6859422. That's 913685942. To have great passion for what they do. This is not a job this is a way of life. You're not rating comment calling again to one of our workshops that are coming up here at one of the local restaurants we put on great environments you and just look at that is retire right radio alive I don't use of power power and I ask you what you wanna hear about we put that up on the board and then I go through. You answer those questions right there in front of a bunch of your peers. And then we break bread and have a nice meal so pick up the phone figure out what to come a workshop. If you wanna come in Simi whatever works best but we're here for you 9136859422. That in that 91368594. Point two. And I look forward to Sharon more information with you next week. Here are retire right radio. You've been listening to retire right with Allan Becker on the retirement. News network. Investing involves risk including the loss of principal no investment strategy can guarantee a profit or protect against loss in periods of declining values any references to protection benefits or lifetime income generally referred to a fixed insurance products never securities or investment products insurance and annuity product guarantees are backed by the financial strength and claims paying ability of the issuing insurance company are firm may be able to identify potential retirement income gaps and me introduce insurance products like annuities as a potential solution talk to your financial professional and your tax advisor about -- Social Security benefits can fit into a complete retirement income strategy financial professionals are able to provide you with information but not guidance or advice related to Social Security benefits Allan Becker is an investment advisor representative and insurance professional with retirement solutions group retirement solutions group is an independent financial services firm that helps people create retirement strategies every -- using a variety of insurance and investment products to work toward meeting their specific goals we are not permitted to offer and no statement -- during -- show shall constitute tax or legal advice -- should talk to a qualified professional before making any decisions about your personal situation we are not affiliated with the US government or any governmental agency investment advisory services offered you -- wealth management LLC.