Retire Right 07.02.17 Seg1.mp3

00:27:58

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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 mega NASDAQ from the retirement news network glad to have you with us today or retire right with Allan Becker and it's always a pleasure to be sitting here with Allen he's the founder and president of retirement solutions group conveniently located right at 435 in Metcalf an Overland Park. And I'd like to start things off with his phone number so if you have any questions about what we're talking about on the show today or if you'd like to send a visit. In the office with Alan you can dial him at 9136859422. That's 913685. 9422. U I you know we can. Start off our show today Allen despite turning the calendar back for a second back in the seventies and eighties you know it was a time of spiking oil prices we had double digit interest rates and of course we had skyrocketing inflation. The cost for goods and services in the US listen to this increased by 11% 13% and 10% in three consecutive years in the late seventies and early eighties. Allan we know inflation's no we are near those levels today but why isn't such a concern for today's retirees. And make it always a pleasure being here you know thankfully. Here in the US has doubled as inflation's. That you mentioned you know they were short lived we have not anything close those inflation figures cents. And act you have to go back about 1992. I the year which inflation exceeded 5%. We shouldn't consider ourselves as we get older and I know we look towards retirement and you know inflation as a as a real act that we all need to consider watch closely you know. When an inflation rate is it's been relatively low for many years and we don't wanna run and hyperinflation moon and so there's all these concerns at inflation's gonna need. Catch up. So I know Alan inflation really can pose some big challenges to people in retirement but. The news is there are some steps we can take today to protect ourselves to protect our nest egg really from some of the challenges. What I think we should be aware of in terms of inflation and some of its impact is we're looking to retirement and trying to prepare. Omega retirement is supposed to be a time where you know we get to really focus on enjoying the fruits of our labor you know they call on the golden years. And we hopefully have the time and enough money to pursue our light schools to do some of the stuff that we've been putting off what we're working. You know kind of figured out bucket list so to speak in that retired reality is of course. It should be within our reach in that risks are part of reality too and there's so many risks out there the American college of financial services. They recently did a fight over eighteen distinct risks that we face in retirement. And these are rats that can eat away at retirement and you know not addressed. Can really be an issue and inflation and is definitely one of those eighteen grass. You know many of the others. We all know all too well the health care risk longevity risk interest rate the risk of you losing a spouse of summer we can control. But many of them most of them we just can't. OK so can talk about why inflation is considered such a huge risk to retirement income. You gotta look at the past just to see what the future holds coming remember when. Bread cost fifty cents a low amount to over four dollars or I believe I read an article that said you know her. Outs org Allan waters more expensive than milk. But but no Cologne Manning I have young kids at home that did trinket like it's going out of style. It's expensive compared to what it was in the power are purchasing power is reduced so we need to know where every dollar going in and so weakened plan for retirement at. Goes to one of those common topics we talk about quite off on the show Megan which is how I'm gonna budget retirement and how do you budget for something that you don't know what it's going to be. So we have to look at inflation often called the silent killer because if you don't plan to make room in your budget in year. You're on your retirement dollars to cover those increasing costs. You're gonna do a lot. You have to do a lot more with a lot lesson and we really want to. Make sure that where you know that its top of the mine awareness that work thinking of these. And inflation some people look at 2% some people look at three. And you know yo the hundred year averages around 3% so it's. Really important to plan for your retirement. And if inflation doesn't go as high paid than your money's Angola further if it goes a little higher the you have to make adjustments and if you just ignore inflation. It's gonna play at a wreak Havoc on out of personal retirement so. It's just needs to be a good set top of the line awareness. You know when you're concerned about your present financial situation can be really hard to think about the future. But he put off thinking of iron to armored you can end up sacrificing the future you always imagine yourself. And I know planning ahead can be difficult and that's why for the first time caller today I am offering your retirement roundtable review. Or take a look at your current financial position get a handle on your future goals. And provides recommendations for the type of retirement strategies. We can create together to help you meet those goals and these are just recommendations will adjust accordingly but it's important to start having a conversation. Getting a dialogue and getting a clan the other preparation as the key so call now. At 9136859422. That's 913685. 94 point two whether or not you Ari have retirement plan now is a great time to start or get a second opinion. To make sure you're headed a rat pack 9136859422. Talent. We planned for inflation. You know inflation is one of those things that we have to have guestimate we know what it's been in the past we have our. Suspicions of you know by looking at certain variables what we believe it's him do in the future sees just gets user a real educated. Guesstimate of where it should be going forward and AM for that in your overall. Process. And that's what we've done here retirement solutions group as we've really created a team trademark. Define process around their retirement process. And that's what we wanna give this router retiree you out those next ten collar because what we're trying to do is bring people in that are ready. And they want to find solutions but look at this I got a nice at Kansas example Fauria. Because it is. If you think about our weather patterns here in Kansas and occasionally we have these micro burst in tornado rate we've all experienced them around here. And we really have a bowel. Sixty seconds sometimes lament we know that the we've got some bad weather at the end of the day usually have a an editor to you to get to the basement and and it's gonna strike. So retirement. Can be a little bit like that do you wanna. Planned for and protect your retirement so that when that tornado strikes the ear prepared Ford. A lot of those we over look. Retirement planning a week we just look at one part of it which might be the greater return that our assets are making him and taking OK you know it's worked the last thirty years let's just keep boring about our investments and what at a greater return were making and we should be okay if we don't spend too much. That's just ultra simple. And it really takes a lot more to define at a retirement plan and you really have to look at at tax efficient planning income planning. Investment planning legacy planning. Health playing it just so many different Ayers and this is where we focus in on. What are processed to make sure that as your coming toward retirement you're looking more like her analysis the other half that analogy. The hurricane made for God's sakes we made the things we we know about them weeks in advance we know things are gonna happen in just like retirement. We know that the market is gonna correct at some point in the future it just cannot keep going up up up. It's got to have a correction. In the if you just ignore that correction it's gonna strike like hey yeah like a tornado it just take your retirement and and put you know. Years backwards. Way you have to rate wait for. Four to come back and as compound losses and and simple games. And that's twice only people are not able to weather safe and happy retirement because they're not cleaning. You know successfully enough they're not looking at all these different areas and they are just standing back saying well it's worked before let's just keep worry about how much were making. And not about protecting their overall retirement. Alan you have a great process there at retirement solutions group that you roundtable. Retirement review. Stir that what's evolved. Well first thing is getting to know somebody when you in our listeners will pick up the phone and call him. We're gonna get them on my calendar. And either myself for one of my advisors gonna sell them were going to get their questions answered this time is about getting to know each other meaning a skinny you know. You that in them getting to know lots and it's really about figuring out what your retirement should look like we take a lot of time. To put together plans for the people who do come in and it's a look this is not cookie cutter it's not a one size fits well. Mean insider income planning we're really gonna look at what streams of cash flow determine your lifestyle. Or how destabilize your cash flow firm more efficient and confident retirement. That includes things like pension optimization as well Social Security optimization. And also looking at your overall corp oil income and how much hope first as cash you have inside that portfolio. Will take some time and look at your investment planning. And that's you know you worked your entire life to save enough money for a couple retirement and we're gonna help you make sure your investment decisions. Work so your money alas that's gonna include a lot of different areas so I really encourage. Those of you there listening to pick up the phone. Special next ten cars and offer that round they're retired you at no cost no obligation. Comment let's get your questions answered and then we'll do this if you gimmick on 9136859422. That's 9136859422. So inside of our investment planning. We're gonna look at your personalized or pollute designed to get it's not a cookie cutter we're gonna generate a portfolio that works to your risk tolerance. So we wanna make sure we understand how fast you wanna be driving her retirement how much were you as a family can take are willing to take in your portfolio. Really gonna focus on volatility in our opinion insists he returns. Is the key to success retirement and once you've reached this stage of financial independence. Job number one is to stay there that means no big losses our goal is to help you achieve differ returns low volatility. And is keep you protected when the market goes crazy. Also want to be transparency no industry. High fees like the financial history yet you understand that your advisors should be compensated so we utilizing transparent. Who UK and what you pay them methods have what does so again lots of different areas recover and will cover more of those as we continue I'll show. And I'd like to give you that phone number if you'd like to reach out to Alan backer in the team at retirement solutions group it's 913685914. To. We've been talking about the impact of inflation on finances and also specifically at people in retirement. Find out why it's so important to protect yourself from inflation Allen's gonna share some of those basics coming up next and stay tuned later in our program listening in as Alan sits down with David Bach and you probably know him his. What do America's most trusted financial experts he is the author of the automatic millionaire and he's in nine time best selling author. It sounds good to talk to David about the market. The markets had all time highs and got interest rates near all time lows a lot of volatility what does it mean for you and your retirement make sure you stick around. For that conversation between. Allan Becker and David Bach much more here on retire right with Allan Becker. 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 a daunting thought we will dig into town what is the market drops. How should you take Social Security doing retirement solutions through an RST investments for a discussion about these factors in homes all well retirement solutions group treats you to a complimentary dinner. I chose Casey Barbeque in all link them. Do you think it takes 6 PM on Tuesday July 11 points Thursday July 13 at just easy barbecue you know laid back. Reservations are required to call 913685. Nine point 222 reserves Dorsey today it's 9136859422. Seating is limited so how. To learn more about these events and how you can attend retirement solutions group 9136859422. Or online at retire by Casey dot com. Investment advisory services offers you eight. LLC. This is retire right with the Alan Ackerman on the retirement. News network. I it's Megan NASDAQ from the retirement news networks so glad to have you with us today of course I'm joined by Alan backer of retirement solutions group and it's you like to begin building the retirement of your dreams I encourage you to call Alan today hears that number. 91368. I 94 a 22. That's 9136859. Ports YouTube you can also find Alan online he has a great website for you at retire right Casey. Dot com that's every tire right Casey dot com we're discussing the impact inflation can have an a person's purchasing power in retirement eat some steps people can take it helped keep pace with that. So Allan why should retirement minded people pay such close attention to inflation what's really at stake here. Well Megyn I think we all get it to retirees they're particularly vulnerable to inflation bottom line is they tend to rely more on a fixed income source such as interest payments. Pensions Social Security things that are gonna come in and and may not keep up with inflation enough. So we really have to consider what it's gonna take to maintain our current senator of living as the price of goods serves as a they continue to write. An Allen in what ways do you see as an advisor do you see inflation impacting the person who may be is near retirement or may even already in retirement. Well you know inflation he tracks her personal purchasing power. I kind of container just recently took a trip to a Europe that I had. Traveled between the pounds in the Euro and and just looking at what the dollar does over in Europe and I can buy assailant Cherie is McDonald's for five dollars and then go over there and in her to England and by that same saying much for five bureau. But the exchange rate to dollar 52 dollars formerly paying gets closer to 758. For the same goods and services I was paying foreign states you know that's not really inflation because we're talking about. You know difference of the dollar vs. Another. Currency that is it can still give you that concept is how far your money going because as an American I'm sitting there counting my dollars and thinking. I'm paying for you know. Getting a lot. The same thing for a lot more. So my money's not going as far it's the same thing retirement got to make choices when you go somewhere your living on a budget or you're traveling on a budget. As to how are your money go so as a retiree. You're gonna be looking at traveling you're going to be looking at living in here on a fixed income. So you don't have the same discretionary income are saying you don't have the ability or you're not maybe you don't want to go get a part time job or. Or should bring in other income so what you have is what you have. He really have to out of position correctly so that your not taking undue risks such as market loss or business rate risk or. Interest rate risk you've got to really set things up silly geoghan make it valid to retirement. But her retirement as the biggest fear that I find for retirees is run out of money in a second biggest is taxes and that's where you really have to look it. Appropriate tax clinic which is one of the Ares are route they were retirement process on a local over in your route they review. Which is you know. Just looking your overall planning in the sense of the government always seems to it to wanna get their fingers in into the pot. And we help you implement tax planning strategies to heat their share to amend them. And this includes. Fiery exit strategy your retirement plan is likely also your lat largest tax liability. And we're gonna plan proactively. Each year to help you reduce your tax exposure possibly by thousands of dollars over your lifetime and less to the IRS. These Morrie you and your family. Also surviving. Spouse planning and this is absolutely huge. Few surviving spouses are often hit. Hard wood additional taxation do that tax cut. And we hope you plant those higher taxes that I toward keeping them to a minimum and the last thing in grieving spouse needs is a higher tax. The way that coats set up you're gonna see that you know you inherit hire a at all the requirement distribution bigger tax rates are cut path. I'm reading your pain odd times a lot higher taxes for ever and there's not a lot you can do about it if you don't start planning now. And that's so key planning now Allen and part of that planning Allen is to create that strategy for protecting your nest egg. And that's something you help people do really you don't wanna Richard nesting just in the hands of anyone correct. No I don't think you should put it in the hands of anyone I mean you should definitely working with some leaders of fiduciary. What I say a fiduciary somebody you've checked against broker check dot org or you found out that they have eight. 65 or 66 securities license. That they're going to be the future your all by an inning you're not all I've mining and anything they do which in turn just means they're working in your best interest I have to put your means before there owner or anybody else's and asks. The standard in the lice is that we hold here's a certain series 65 securities license I'm a fiduciary. So or that the people in my team that would be working with you and I want to make share. Do you understand what that means an end if you're working with somebody it may be a great idea to get a second opinion. I feel that with our route to retire process and all the different areas recover in the income playing. The investment playing the tax planning also spent some time on legacy planning and then we've been talking about inflation that really comes in the play were more Crocker healthcare planning its increasing much faster than the 3% we've been talking about so health care. Huge huge concern so. If you put some money away for retiring and you're one of the next ten collar we are gonna look at the big picture and talk about your needs your wants your goals. The based on that conversation provide you with your retirement income strategy at the goal. Based wholly on your individual circumstances no cookie cutter playing here we're gonna put some time behind it and work for you. Comet 9136859422. It never hurts to get a second opinion editor Tara plan and if you don't have one yet it's never too late to get started. So please give me a call at 9136859422. Ellen's website goatee or retire right Casey dot com for more information on talent and the T retirement solutions group he also has information on attending one of his information all seminars he told these workshops all throughout the year. If you'd like to attend enjoy a great meal get to know Alan and start to understand his philosophy for generating retirement income. Go to retire right Casey. Dot com Alan I'll ask you about our economy do you see different parts of our economy where inflation's hired. Than others. I have may we certainly see the health care industry having much higher inflation medical care long term care these things that retirees and the need. More than other segments of the population and even when inflation is pretty much not exist across many sectors. The health care and the long term care has been rising in the year after year. So I I I know that this is an error that we really need to keep front senator. That's where world created plan designed to help you protect yourself against these rising health care costs. Including looking at all aspects of Medicare part eighties BMD. Of the hospital doctor and pressure drugs. And analyzing options for a long term care plan feel that work with you whether that's. Addressing something through. A private plan self insuring using life insurance and asset class. I'm maybe an annuity within income writer that doubles national many different ways to look at how to address it. The it starts with informing you what your options are and then going through it and deciding which one works best you. But we've seen that the cost. Is just continuing to rise migrant a hundred years old. And she's been in that memory care unit for several years now and it's here Kansas City approaching 7000 a ma oh. I know firsthand what it cost to help somebody in long term care and now one. Provide that. Experience to our listeners I had definitely invite them to come NM and set out and visit with me so we can make sure you go into a retirement earlier eyes wide open. The number at retirement solutions group 91368594. Tootsie I mentioned Alan is the author of the book return on investment. Or reliability of income the true meaning of ROI in the golden years it's fantastic book. And you a chapter in your book Alan that talks about health care plan. Having we just got a new version of the book in our our latest repressed. With all updated facts and figures and yes I spend some time I would've been doing this for almost twenty years. And a lot of my career spends spends working with people specifically our long term care and Medicare. I just have a book on talk a little bit about. How Medicare works how the prescription drug plans available via a little bit of tidbit that many people doubt now. Is a lot of us will talk about creator return we'll talk about in camp but it fits right in there with a legacy in and health care planning and just cleaning in general is win you. Have a single person and so widow and they received. Income from hiring or from a pension are crucial security and that in town. At retirement let's say is over 80000 dollars and eighty change. Then you actually we'll get a surcharge from Medicare. Which means what everybody else's paper or most everybody else is paying for their Medicare part. B premiums you end up paying that plus more. Also on your part. I'll be planning for all of these different expenses as we move into the preservation phased retirement and the accumulation phase is great greater return as important. But if that's lawyer look at that you're really looking and about 20% of the ball game so we encourage you. To pick up the phone because when it comes to planning for retirement the first step. It can be the hardest and no horse start. And I also can be very difficult a lot of noise out there and taking twenty years even more years in the future QB. Actually overwhelming so for the first ten collars and MAM I'm an offer. My round table retiree view to make this process a little easier this is a great opportunity. To talk to experienced financial professional about your current financial situation your life goals. How we can develop retirement strategy that takes both. In the consideration when we meet or a look at how to Max Wessels security analyze how much risk your curb Coppola taking and and make sure your accounts are tax efficient protecting all the money that is rightfully years. And this is gonna develop an income planned to make sure you don't run out of money and retirement. Completely customize no cost no obligation but its limited to the first ten collar on the shouted. So give me a call 91368594220. And let's get a retirement income analysis done for you that's 913685942. To call me now. 9136859422. And we want you to states in later in our program. Alan sits down with David but he's a best selling author he's written nine bestselling books including Smart couples finish rich and the automatic millionaire. He's one of America's most trusted financial experts Al talks to him today about some of the issues surrounding the market today. Of course it's near all time highs and it's making a lot of people nervous so with all that volatility what does it mean for your retirement Allen and David discuss that coming up later in the program stay tuned. You know even the best laid plans for retirement they are subject to the impact of inflation inflation eats into your purchasing power over time Allen's going to share more strategies to help you plea in a round inflation coming up next. You're listening to retire right we gallon vector. I'm the retirement. News network.
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