Retire Right 10.08.17 Seg1.mp3

Retire Right with Alan Becker
Sunday, October 8th
00:28:00

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. Hey there mega NASDAQ from the retirement news network as always I'm joined by Alan backer of retirement solutions group. If you'd like to reach out to Alan and the team at RSG can call today hears that number. 9136859. Sports UTU. I can't nets 9136859422. Fantastic website as well if he'd like to check that out good teary tire right Casey. Dot com or urged we had back and we were kids maybe your grandkids are like this tear you know you want to mix stuff up in your mom's kitchen. And a little bit is this in a little bit of that in our sometimes if you were really daring you tried that in the medicine cabinet which was a big no no but he. We've got to be mindful and your kids should to some household items should never be mixed together right I'm talking about bleach and ammonia that is a very dangerous. Combination. Now here's how that can relate to retirement planning believe pattern hot. When we're talking about planning for retirement it really does take a very carefully thought out. Balanced approach using a lot of different investment types you wanna make sure that you get the right combination here because if you mixed together some ingredients that shouldn't be together well it could end up being toxic to your financial health. And a lot of us out there we've saved for retirement right and done a really good job of that but whether you started saving or not. For a lot of as the question that stalls less is. How does save and what I mean is what do we do with this money that we've accumulated so Allen house or things off by asking you what is the best mex. Megan that's a big question because it's everybody's unique in individuals so. At a mix needs to be designed to some interest Collins as well as what they're trying to accomplish if you have. All of your bills taking care of you you're fortunate to have enough Social Security maybe some pension. To cover your needs that may be just enough for your once they will take some risk and your wants those types of things I was reading in the investment business daily the other day. And oh great quote in there it said that today financial planning is as much an art form as it is mathematical. So what I mean by that are what the article was talking about is you really need to. Design a financial plan to what you're trying to accomplish and there's a lot of tools out there. So when we're looking at creating financial. Tools to it mixes to get this to enter retirement it's. Really got to be designed to that individual what they're trying to accomplish because. And we can use stocks bonds annuities there's lots of ways to create a mix. But it has to be appropriate. It certainly does that's such a good thing to point out you can't just throw it all together and hope that works. So I would guess that a fair amount of BB than ours out there these days they think Social Security's. Really gonna cover then maybe not entirely for retirement but a pretty large portion MI correct. Let's say that that's accurate there's also a good portion of baby boomers that are convinced the Social Security you and impede their fourth. I think that's a little farfetched but according to a recent study 59% of beavers they're expecting Social Security provide the bulk of their income retirement and that can explain why 35 million of the 76 million baby boomers haven't saved anything retire now some of us are having kids younger some of us are having kids later. And being an empty Nester and and supporting the Stanley and Citi and college in doing all the things that we do is. As we adult you know an all factors in that currently the average monthly Social Security retirement benefits only thirteen 141 dollars. And for a lot of people that will not give us the retirement we desire. It certainly won't what about pensions CE Tommy that there. Really few and far between Allen and you maintain that that's the case you're just not seeing a lot of people with pensions these days. It seems is like one in five people have pensions and if you have a pension it's usually not enough to cover everything. Now there's an exception every rule some executive some union members as well as. Military retirees tend to have decent sized pensions. And are able to use that as a building block for their retirement and that's fantastic by. A lot of us have small pensions that are not enough to cover everything. In he's still have to find out how to. Use your qualified money as well is. Anything else you've saved qualified money meaning money you have and pay taxes on yet which will at some point have a time when Uncle Sam wants those funds and for most of us that's going to be Seve and half so let's might take it. Sooner if we needed to live on and that's actually big concern that I like to get out there to our listeners is that retirement planning should be a lot about tax efficiency. Making sure that you have the right mix of qualified money to maximize your tax bracket. And we can make your tax bill something that you can control. Vs allowing that tax bill to just keep accumulating in and be something of you know on arbor trash around our necks of the speaker and something that's going to be there for the future force distribution raise their tax brackets. Potentially lose a spouse at some point. And that would. Make our tax wreckage reckon half but our income. On time doesn't shrink quite as far therefore that pushes up into higher tax brackets. The you know there's a lot of stuff that goes on to appropriate retirement playing each and every day when I meet with. Couples and individuals much like our listeners we really wanna look at the big picture talk about you're unique and individual needs. Figure out what it is you're trying to accomplish that we do this Wheeler compliment or retirement roundtable review there's no obligation. This consultation. Takes in consideration your needs your wants. And we help you get to enter retirement you know a lot of us think that we can prepare for retirement a second opinion never hurts. Would like to take you through this round they retire process were we addressed in complaining investment planning tax efficiency legacy and health care. All of very important issues that we need all very important issues that we need to get. To enter retirement so give me a call 9136859422. Be one of the next ten collar right now 9136859422. That's 9136859422. It never hurts to get a second opinion on your retirement plan. If you don't have one yet it's never too late to get started. So give me a call 9136859. Before 22. And I'll give you Allen's web site this is so important if you're looking to attend one of his dinner workshops we talk about that. All the time he holds dinner seminars right here in the Kansas City metro at great restaurants and you can attend its complimentary it's just hit a great time. Get to meet Alan and the team from RSG. And this is really cold suit you can ask your questions and Allen will share his philosophy on generating retirement income. So to attend one of those make sure you go to retire right TC dot com. These are held all year long he could find a date and location networks for you. Again it's a retire right Casey. Dot com now Allan the retirement landscape play it's so much different than it was her past generations you know I think about my grandparents and how. They retired on Social Security. They had some savings they had a pension and it was pretty easy but. It's a little bit different these days and I do point out I think the concept of Social Security. That's remain the same since it was created but the way we incorporated into our retirement plan. That's definitely changed so let's talk a little bit about Social Security where exactly do you see that fitting in. See retirement plans these days. Omega and Social Security gives us 250. Options to choose when we should should take that payment. It's all just boils down to how much that payments going to be so we know how it's gonna benefit us and you know there's a lot of things that factor in this such as your health. Your spouse's age and their health as well as. If you're still working and then your overall feel of the government and your dependability of Social Security. When you come mesh all that together and you got to look at how much money that you're working with as far as how much you haven't paid taxes on. Verses. How much the year going to be forced to take later. Bottom line is you're only getting around 70% of the benefit if you take it is 62. If you're gonna take it it's seventy gonna about a 132%. Of the benefit. But it's all relative I mean those numbers sound you know smaller when you're 62 and greater when you're seventy. But if you can't afford to take it at seven meaning you can't if you. Have to take it at 62 and have to we have to look at so many other things plus there are other solutions we can utilized to help us get to our goals of fixed. Income and we can use things like insurance products for example you know as a fiduciary somebody who's legally obligated. As well as morally and ethically. But some used legally obligated to put your needs in front of everything else. That's what the futures and that's something that holds a series 65 course series 66 license only two ways to get to a fiduciary capacity. From the legal aspect of it where you taking the certifications you've done the background checks. We passed the test so once you're working with fiduciary then you need to make sure that fiduciary awesome has an insurance license because as we move into retirement we really like to address other issues other than just what's our rate of return. It's reliability of income just as much as. Rate of return and then it's also our health. Insurance and long term care concerns. When you. Factor all of that in there you need in the insurance license as well as the securities license and that's pretty here with retirement solutions group a fiduciary whose duly licensed in both the insurance and securities world. That number every tire meant solutions group 91368594. Exude CU that's 91368594. 22 you. Allen for your clients. Typically recommended a 401K. You know is there an investment strategy using goes along with really making your assets last as long as you do. Fantastic question Megan there's a lot that goes into that question in the sense of everybody's unique and individual and their situations so when they people come and it's nice to have a financial advisors can actually give you advice on your forward cake as we all know we don't get that work and nobody wants to take a liability so you have to be working with some way. They can take a look at the mixes in the offerings. And and help you down that path that's something as an investment advisor that I can do for. By that being said I don't have. Like here's my favorite mix everybody's unique. And we wanna figure out what you wanna invest any investing to make money do you want to you know. Go down a path where you wanna invest in something utilized. Or that you believe and first is just having a portfolio. And that's what's available inside 40 in case that you can use that fits those parameters but there's so many other pieces because it all depends on your risk profile. You're a major investment in time horizon when you expect to switch from that accumulation today distribution phase of life and what else you've set aside and that's where I think he is so important that so many people miss is that tax efficiency. Iran does each and every day I was just talking to Lillian. The other day and she had quite a bit of money in her 401K that's qualified funds and we are looking at taken Social Security in her advisors previous to me and told her to take it at 62. And I. And told Mary you know it's probably more of a motivation of how he was getting paid vs what was in the best interest. And that's a big concern because if you're not working with somebody who is a fiduciary who's looking out for your best interest what can typically happen is they'll give you advice that may be centered around how they get paid rather than what's it what's gonna work for you that's that's a big concern. And I see it all the time. Because for her. And and many of you better to take. And use that qualified money those moneys we have paid taxes on to appear in terms source and less Social Security perhaps delay because it's taxed at a different. These are all the types of concerns that we look at what we're looking at the roundtable retirement process for the next ten collars. At nine when 3659422. I'm not what you do the roundtable retiree view it actually no cost and no obligation. Give the answers to those questions that are keeping you up at night 9136859422. So how do you decide what asset mix is right for you. Find out as Alan talks about the range of options stocks bonds and duties cash in the current and how did decide in the mix that's diversified and right for you. That's coming up 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 a daunting thought really you get income. What's a market drops. How should you take Social Security has joined the team from retirement solutions group and RSD investments for a discussion about these actors even more all long retirement solutions group treats you to a complimentary dinner. And Jane Gilbert's in Overland Park you picked the date 6 PM on Tuesday October 10 or Thursday October 12 and reservations are required so call 9136859422. To reserve your seat today it'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 retire right TC dot com investment advisory services offered through. LLC. This is retire right with the Alan Ackerman on the retirement. News network. Hi meg and those eggs from the retirement news network joined by Alan backer of retirements. Illusions group glad to have you board with us on the show today if you're looking to build a retirement future one day you can feel confident and what is he could even get excited about. Well that's what Alan does with his client each and every day he's been doing this more than twenty years now. And he can help you with your retirement plans have called today to get started 913685914. To. That's 9136859. Before. 22 you. I wanna tackle little more here Allen about diversification. Mainly the wife behind diversification. What are some of the reasons that someone wants to have a really truly diversified retirement asset base. We'll keep you what you said may in his retirement asset base diversification does not mean have five different advisors. And keep money all over the place and under the mattress because that can get really confusing is you get older and trying to remember where it's all Latin that something happens to you your family and where it's located to keep in mind that diversification is also not a guarantee strategy does not guarantee a profit or that you cannot lose money but he can't help temper the volatility which you really cannot avoid. When you invest so you diversify by selecting a mix of assets from stocks bonds and duties cash life and turns everything in between. That doesn't necessarily react to market conditions the trends and the swings on the same way so. And I think about bonds and stocks kind of -- idea when bonds go up stocks go down stocks go up bonds down there cannery work in reverse. Always but that's the general concept behind it so within the world of stocks that are large mid small caps mean there's. It can get really confusing twenty years ago we pretty much just that stocks bonds mutual funds nowadays there's so many different. Types of stocks that we get into between the technology or for him that you know different sectors. So you really wanna make sure that you're working with somebody that can help you down the path. To understand what you're trying to accomplish and what the best mixes we use on a wealth management. And sterling private capital which. They have our money managers that build portfolios. Typical portfolio. Somewhere around. Sixty different country's eighteen different asset classes and 101000 different positions that's diversification. So what we find is. People who are new to retirement solutions group and our investments will come up in the column saying the markets. You know going down to 300 points what's my portfolio doing in the final that are powerful is not reacting. At the same level but the market is because we build it to you control volatility. We want the powerful to build based on what our client families trying to accomplish. Not just what the essence he's doing and that's what diversification does for you it's supposed to help you. Keep things NA working to gather play. Not re acting in the same way. That makes a lot of sense and you know any even though bonds are added to the mix to help buffer volatility I know you tell us stocks outperform them in the long tolerate it you know bonds for the last thirty years we've been in a bull market that we have got some low interest rates right now in the talk of the feds raising interest rates have. Sit bonds in two more of a bear marker right now because of the fear raising interest rates. Do you wanna be stuck with bonds in your portfolio win the interest rates rise because if you can buy a newer bonds. At higher interest rates and an older bond obviously you're gonna by the Miller so we have to watch our portfolios and make sure that we understand that correlation in the mix. And that's why I'm a big fan using the new he's at some level inside a portfolio because that lets the insurance company used the bond market. And gives us the like peace of mind that we're gonna have an income for the rest of our life. What I mean by that is. If you're using a fixed index and duty willing geared to income then they insurance company based on the claims paying ability of the insurance cover which is obviously is guaranteeing you that they're gonna pay you out an income even if you ran out of money you don't get that when utilize the stock market bonds or stocks EU unity and income stream what the bonds or with the dividends potentially but it's not guaranteed when you're using an annuity you get that guaranteed income stream so there's a lot involved with retirement planning. And with retirement looming RD upon you it's important be absolutely sure you have enough money coming in every month. Not just to cover your expenses but to live the kind of lifestyle even imagine and worked so hard and so long to save for the first step is getting it completely customized retirement analysis from retirement solutions group. We wanna make sure you're working with somebody like retirement solutions group to help you provide you with a fresh professional perspective on your entire income pictures. This is not going to be some generic cookie cutter report its customized specifically just for you and your family be one of the next ten collars to call 9136859422. Point you begin. This customize report. That is unique to your needs and goals. So give us call 9136859422. That's the roundtable retire process be one of the next ten collars that your personalized analysis today 913685. 94229136859422. And we're glad you're with us today this is retire right with Allan Becker I'm Megan those act with the retirement news network that number again to set a visit with Allan at his office very conveniently located for you an Overland Park right at 435. And Metcalf the number 9136859422. You. And get registered for one of his dinner workshops happening at a location near you right here in the KC metro. Again that's retire right Casey dot com not many people could stomach having their portfolio lose. Half their value in retirement and you know anything back to 20082009. And happened to a lot of people that's a hard thing to watch what's alternative here. We'll remember investing is not short term it's for the long term. And that mean mean that you have you know five more years on the planet or 45 more years on the planet or fifty more years that you have to invest based time. I mean result. The problem with investing is is it's almost like out playing sports when we have our kids playing sports we never tell our friends about the time they you know or run and it's soccer and tripped and somebody else scorer. We tell about the times when our kids did something great can score or help score a touchdown or soccer goal or basketball whatever it is right its its positive. The same thing with investing if you're talking to some and in their telling me about their great results in the stock market it's typically. A specific stock and a and a specific returned they might have been down for the year but they're gonna tell you about one stock that did really well so it can be very. Confusing and very misleading when you're investing you want to make sure you have a portfolio that's designed to accomplish your goals just Judeo speaking to one of my client she's a really cool job takes are all across the country she's as saleswoman and I helper with her packs planning gaining. Ready for retirement and she was coming in because she had some concerns about taking care of attacks billable we looked at what she was accomplishing and how much she was saving. By using a correct Pak strategy verses just paying higher arrest. It reminded her why we were working together as it was really overwhelming for a moment because her CPA hatter. Wanted to pay over 50000 taxes by by utilizing. Certain Sampson and higher rate type programs we're able to save over 25000. Dollars in her tax bill. It's just really amazing life at the right advice can do for family setting them up for the future and it's it's just it's still awesome to be able to give advice and help people to better their family situations to provide the lifestyle. That they work so hard for. All their lives. Alan I hear a lot of bad and you ladies these days those are insurance products of course. You a new lease so help insure you don't lose half your portfolio because the market dips. We'll thing about it. In new Liddy and there's several styles there's a variable there's fixed and there's fixed index now. Because I am an insurance license unable to offer annuities as well as the financial planning aspect with the securities license. But I stay away from the variable annuities I am a fan of fixed or fixed index type products. And that really is the one that. The types of annuities that that fit into your overall question which is how to they protect you the idea of an index annuity is your based. On the market but not in the market so let's say put a 100000 on the market in the market goes up 10% well over that year you may. Give a percentage of the upside let's say yet 5% of the upside save 50%. You lock that and that's yours okay next year the market goes down 10% all the traditional investment. You've had your Gainesville up and then you lost 10% of the new total. Within and a fixed index annuity you capture gains and you just collect zero for the year it's almost like playing blackjack with a dealer that every time you lose a hand they let you keep your money. Just a really great vehicle to get to two retirement now watcher in retirement. You can then take an annuity and a lot of people think oh I've got a a new ties that product and then I'm gonna lose control of my money that's the old style these days. What do knew these TV is the ability to. Take an income stream that's not a new aside that doesn't mean you lose control of the newly that means that you still get to choose your allocations you still yet to take withdrawals if you need she can keep your money back you feel like I you have the ability to take an income for the rest of your life and the rest of your spouse's life that is not going to be affected by market downturn so. All to only what that annuity can do is protect you to win through retirement ask somebody who had a fixed index nearly 2008 what they think about it. And they're gonna tell you how great they are because they'd be losing money in 2008. And then he it is money in 2000 Nate Allen and it. Many of them wish that they had an annuity for at least a portion of their portfolio of you know that would be my assumption I can't speak for them but I would the ones I've met. After 2008 sure wish they had a new these are those that at Ari had some of their my unity which is. That they had more in them. So I would say that's a fair. Assumption their Megan you know or lay out a lot longer as well and I wondered if that factors in you know how trying to make our money asked as long as we'd. Oh absolutely the idea of retirement it's a newer idea that we we used to work until we can't pass out because the idea of life expectancy keeps extending when I do my workshops I asked people do you think life expectancy is not still didn't people tell me life expectancy is is is in their seventies well my grandma is over a hundred years old you've been listened to the show you've heard me talk about -- how on several times she's over under. Most of the influences in my life or my grandparents and my wife's grandparents have all lived into their eighty's or ninety's so I know from personal experience that people are living much longer and the idea of an inability to keep you that guarantee to know that you're gonna get an income for the rest of your life like a pension like missiles security that is outstanding soon. It's its longevity insurance protection. From now living your money which is for most people number one fear. It's so important as your moving through retirement that you're talking to somebody that understands how an annuity could be utilized rather than just telling you there a bad thing and act on the Y or explaining how it would work inside your situation. And give either expect that you can make a decision once you have all the facts that's what our roundtable retire process is all about it's about going to and advising you what the different solutions are. And helping you make decisions so that you and your family can live the life you've always wanted to live make the decisions and have that check coming in every two weeks is every thirty days systematically for the rest of viewing your spouse's life. In a tax efficient manner. So being one of the next ten dollars on today's show at 913685. 9422. That's 9136859422. You've decided on a diversification strategy that now why it well and provides next steps in the third part of our show about delivering diversification. In your retirement portfolio stay with us. You are listening to retire right with the Allan Becker under retire. News networks.
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