Mass Wealth Radio: Saturday, November 18, 2023

None

Episode Transcript

(00:10):
Jake Lowry passed away about a monthago, but Jake's family, including his
wife Victoria, and his team atLowry Financial Group, aim to continue Jake's
legacy of serving his community and thefamily he's built with his clients. Join
us for a special hour of massWealth Radio as we remember the life and

(00:32):
legacy of Jake Lowry and what isto come. This is mass Wealth Radio.
This is mass Wealth Radio with VictoriaLowry. I'm Bruce Steinbrock. You
can reach the Lowry Financial Group anytimeat eight five five three one eight eight
three eight seven. That's eight fivefive three one eight eight three eight seven,

(00:59):
or you can look them up online at masswealthradio dot com. Victoria,
welcome to today's show. Well,thank you for having me, Bruce.
Yeah, and we want people toknow that again, while you are
still dealing with Jake's passing, theLowry Financial Group is continuing on. I
know you've met with clients, You'vehad the chance to meet and reach out

(01:22):
to and talk with a lot offolks, tell people how things are going
for you, and you know,again continuing to connect to the Lowery Financial
clients. Well, as you know, November tenth was Jake's celebration of life.
So I was very fortunate and I'mblessed to have all this client coming

(01:42):
to support us and paying respect toJake. I was very trilled. It
was very emotional. I'm still grievingand I'm still trying to grieve, but
i still want to help client becauseJake his main focus was helping people to
do his best to give the besthe can and guide them to the right

(02:04):
direction for their retirement process. Sowe are still going and moving forward and
keeping his legacy going. So weare open, we are ready here,
We're helping clients as much as wecan. I will be in the office
as much as I can. Ofcourse, it's really hard to come every

(02:25):
day and be here, but I'mhere. I'm assistant client. I'm answering
all their concerns their questions, andwe are still open and we are still
in business and we're keeping Jake's legacyabsolutely. And James Jimmy Sullivan Junior,
the intake specialist, is there andClarissa is with you again. The number

(02:45):
eight five five three one eight eightthree eight seven to reach the Lowry Financial
Group. And the one thing,Victoria that you told me and you want
to use this opportunity in the unfortunateopportunity. But you can speak right to
the those ladies in the audience whomaybe have found themselves in the same spot
that you have in connecting with themon knowing they are not alone, that

(03:10):
you can help walk through with themwhat they are going through. So that
and again if your spouse hasn't passed, that you can help them get prepared
for the time when one spouse passes. This is something you want to now
make your life's work correct. Absolutely, And since Jake passing, a lot

(03:30):
of friends have been reaching out becausewhen you are in your forties, you
don't even think about it because youare here. You're worrying about your kids,
you're worrying about your bills, you'reworrying about your everyday life, but
you never think about that in onesecond, your life will be upside down.
So I am here to help peoplewidows, single mom, you can

(03:54):
be married with kids, but youwant to have that peace of mind.
We are here to help you throughthis. I was very fortunate that we
are in this industry, so ofcourse Jake has our family set up,
but still even with him being inthe business and me being in the business
for so many years, there isalways difficulties to go through things and try

(04:17):
to figure things out because you haveto grieve, you have kids, you
know, and you have to gothrough all this things. So we are
here. I just want to letthem know that I am here, and
I'm talking about my experience even beingin the business and my husband being in
the business. It's always hard todeal with these things. So we are
here for people to help them throughthis. Of course, I don't wish

(04:42):
up and this on anyone, butI am here to help them through this,
or to help women in case oftheir husband passing. So that's my
main goal is try to help asmuch as possible because you cannot believe,
Bruce, how many friends have beenreaching out to me because they had no
plan. They have no plan,they don't even know how to start.

(05:08):
Yeah, and folks, if Jake'spassing can do anything. It signaled to
you how prepared or unprepared you arein your retirement. And you heard Victoria
say, even in your forties,it's something that you need to have on
your mind. If you're like mein your fifties, you need to have
a plan. Reach out to Victoriaand the Lowry Financial Group eight five five

(05:32):
three one eight eight three eight seven. Now you did tell us you're going
to have the two offices, themain office in Hingham and the satellite office
in the coming center in Beverly willbe the two operating offices moving forward as
people continue to work with you.Correct, absolutely, Bruce. So our
main office will be Hingham office,which is the main office, and we're

(05:56):
keeping the Beverly office as a satelliteoffice to be able to make and to
meet our client and accommodate them thepeople that are on the north shore of
Boston. Now, Victoria, asyou continue to process through this, all
I know, the listening audience andyour clients, I'm sure have also asked
about Aiden and Lily. How arethey doing? How are they processing through

(06:19):
this? Well, you know,it's as I said, it's day by
day's situation. I mean, thekids were very close to Jake. I
mean, Jake was a loving,caring father and a husband as and a
friend. I mean I had onthe day of the celebration client come in
crying, people telling me they losta son. I had client coming like

(06:40):
saying he was part of the family. It was more personal than any business.
They loved him. So for thekids, it's a day by day
process. You know, as amom, I have to grieve, I
have to take care of business.I have to make sure my client are
set. I have to be herefor them. But at the same time,
at the end of the day,I have to put that brave face

(07:01):
for my kids because they're ten yearsold and they never thought of this will
happen. It's a tragedy. It'sa nightmare for them. Like they wake
up every morning and they're like,you know, is this realm? And
unfortunately it is. And by theway, I know you were all visiting

(07:23):
Jake's dad, whose health has beendeclining. How is Jake's dad doing.
Oh, he's still in rehab.Actually, we are flying the kids and
I back to Wisconsin for Thanksgiving tobe able to believe it or not.
The kids wanted to have a picnicon Jake's grave because Thanksgiving was a very,
very big deal for Jake and formy family. We'll host Thanksgiving every

(07:47):
year. It's a big celebration.Jake was one of his main and favorite
holidays because he was thankful for everything, for his client, for his family,
for his friends, for us foreverything. So it's a big celebration.
So we will be back to visitJake's dad and have a picnic on

(08:07):
Thanksgiving by Jake's graves, and I'msure the kids will will have I guess
as good a time as they can, but I mean celebrating Jake will will
be the fun because, as yousaid, Jake was the life of Thanksgiving
for the family again, reach outto the Lowry Financial Group eight five five

(08:28):
three one eight eight three eight seveneight five five three one eight eight three
eight seven On the Webit'smasswealth radio dotcom. You mentioned something when we spoke
a couple of weeks back, Victoriathat when you and Jake started Lowry Financial
Group, Jake started it really fromhis car. I mean he wanted and
his first and foremost thought then washelping veterans, and a number of the

(08:50):
base of your clients. How thecompany was built was on veterans who Jake
helped. And you said, ifsomebody would call on a Sunday evening at
six o'clock, Jake was going totake the call. They called Saturday afternoon
at two, he was going totake the call because he said, these
people need that help. And ifI can spend ten or fifteen minutes with
them to solve their issue, thenthat's what I need to do. That's

(09:13):
what I'm called to do. Andyou mentioned driving to Bangor, Maine to
meet with people and try and helpthem talk about that and what that means
to you, because that's the foundationof Lowry Financial Group, and that's the
main reason actually, Bruce, forme to keep his legacy. I want
to continue what he started. AndJake started about helping veterans. As you

(09:37):
mentioned, we drove to Bengor,Maine, we drove to Agawam. We
did whatever we could to help ourveterans and their surviving spouses. It was
also like even without veteran, anyclient, there is no advisor that his
client will have his cell phone.So when Jake used to hand the cell

(09:58):
phone number to his client and hispersonal cell phone, they would be like
shocked because it was very personal,you know, giving your cell phone so
client could reach Jake anytime, weekends, day off, Saturdays, daytime,
because for him, it was answeringthat question that will make or give his
client that peace of mind. Andthen I know, in addition to veterans,

(10:22):
then he found and I know heand Phil Graham had worked on some
life products together and they talked alot on the show about helping those who
were underserved again maybe had gotten tothat medicaid portion of life where they unfortunately
maybe not had you know, thefive year look back, and they didn't

(10:43):
have all of the education that theyneeded. And Jake said, here's another
need that I need to fill.And that was foundational to the business.
Absolutely, absolutely, and we dohave a wonderful, great team. There
are one of the top people tohelp with that in our is here in
Massachusetts. They've been in the businessfor over forty years and they're here to

(11:03):
help our clients. So when aclient come to us, we start the
process from start to finish. Wehelp them with everything and anything from trust
to will to anything they need.So this is a package when you come
and visit and meet with us hereat Lowry Financial Group, it's not just

(11:24):
one thing specific thing. We helpyou from the start tell the end with
anything all you need for your planning, for your retirement, for even after
going to assistant Living, we'll beable to help you. So it's a
process basically, it really is,folks, Again, it's the five spokes
of the wheel that Jake talks somuch about in Victoria is talking about with

(11:46):
the clients the income, the investments, the taxes, the healthcare and long
term care, and the estate andlegacy planning. That's the five parts of
the retirement wheel. At Lowry FinancialGroup, they are still in business.
They two locations to serve you inthe greater Boston area. Derby Street in
Hingham is the main office. Satelliteoffice in the Coming Center in Beverly.

(12:07):
Reach out to Victoria and the LowryFinancial Group team. Eight five five three
one eight eight three eight seven.That's eight five five three one eight eight
three eight seven, or on theweb. You can find them at masswealthradio
dot com. We'll be back withmore mass Wealth Radio right after this.
I'm Grace Curley, and you arelistening to the Voice of Boston AM six

(12:28):
eighty WRKO. More mass Wealth Radiocoming up next. Hey, it's Grace
Curly Jake on your show mass WealthManagement. You offer the Financial Freedom Analysis.
What value does this bring to familiesplanning for retirement? The Financial Freedom
Analysis is all about educating our listeners. We examined all your income sources,

(12:50):
maximizing income preview your social security options, when to apply, and tax analysis.
More money going into your pocket,not to the irs. Start creating
financial freedom by calling us at eightfive five three one eight eight three eight
seven. This is a special editionof mass Wealth Radio. I'm Bruce Steinbrock.

(13:16):
Jake Lowry passed in October. Hiswife Victoria is continuing on the Lowry
Financial Group with two locations to serveyou, the main office on Derby Street
in Hingham and the satellite office inthe Coming Center in Beverly. Victoria,
Jimmy, Clarissa and the team willcontinue on in Jake's memory to serve the

(13:39):
people of the greater Boston area.The number to reach out to the Lowry
Financial Group eight five five three one, eight eight three eight seven. That's
eight five five three one eight eightthree eight seven now mass Wealth Radio.
Jake, Welcome to the show.How are we doing? Bruce doing great?
It's interesting a lot of times ifwe really step back and listen to

(14:01):
some of those who've come before us, we can learn a lot. And
retirees. Recently we ran across anarticle that they were given some wisdom.
This is according to next Avenue dotorg. That's where the article was published.
And some of the retirees of today. They said, here are some
things you might miss, the challengeand comfort of having a place to go

(14:24):
every day if you aren't prepared forthe You know a lot of people and
they love their work life because there'sthey're around people probably that they enjoy being
around on all those things. Anotherretiree said they retired at the age of
sixty and they were traveling with theirwife, and by the age of seventy
he said he was ready for ajob of some sort. He missed the
routine and the camaraderie. And anotherretire in the article said, be prepared

(14:48):
to be flexible even with long helddreams. This is especially important advice for
couples when one has a change ofart about travel plan. So I think
there's probably some words of wisdom inthere. And you've run across that in
the last twenty plus years with thosewho have retired and lived it for a
little while, have you not,Well, Yeah, you get into a

(15:09):
routine. You've been working for thirtyforty years, m right, and it's
a routine, and I think abig aspect of it is the camaraderie side.
You know, you're working on thesite or in the office. It's
a friendship that's established with some ofyour colleagues, you know, where you
share what you did last weekend,or you know someone to talk to and
there's a level of comfort there.And then when you stop working, you

(15:31):
know that goes away, right.I mean, you might connect with these
people here and there, but that'snot the daily routine of going to work
having the conversations with the same people. Most of my clients have friends outside
of work, and that's where itbecomes important. You know, what are
your hobbies, finding what you liketo do, being prepared, as they
said, you know, if it'sgolfing that you like to do, make

(15:52):
sure you have that tea time withthose other retired friends of yours and you
know, be able to enjoy thatcamaraderie. It's the transition of camaraderie,
right, and where who you're communicatingwith and connecting with. But I have
a lot of clients that will goback to work to a certain extent,
a part time job, maybe somethingthat's less stressful, something that they enjoy.
I have clients that go work atthe golf course. I have clients

(16:15):
that have gone to work over athome depot. You know, they like
to saw wood or Greek people,right, So there is a level of
that and you don't want to ifyou're not prepared, a level of loneliness
or I hate to say the worddepression. Sure that can set into place,
So you want to make sure youare prepared. Eight five five three
one eight eight three eight seven isthe phone number to reach out to Jake

(16:37):
and the mass Wealth Management team.Eight five five three one eight eight three
eight seven. And I'm sure Jakethat yes, there's nuts and bolts.
You're talking about income investments, taxes, healthcare, long term care, and
a state and legacy planning. Butpart of the conversations that you have with
individuals and couples here in the greaterNew England area is about those things.
Because there are changes. You dotry and let them lean into this.

(17:02):
What are those conversations like when peopleare a client of yours for say five
years, and they retired at sixtytwo and now they're sixty seven and you're
checking in with them at midyear andthey're talking about, yeah, Jacob,
I don't know if this retirement thingsfor me. So do you lean into
them and talk about maybe a parttime job or something like that. There's

(17:22):
usually two situations where that will comeinto play, supplementing income and also finding
activities something that they need to fulfillsome of their life right a space in
their life. But when you're talkingabout social security investment strategy, we utilize
our three bucket system their pay checkbucket, social security, a state planning,

(17:42):
long term care planning, tax strategy. Those are all requirements in this
chapter of life we call retirement.You know, when you're in that building
an accumulation phase. A lot ofthe big but what we call the big
box retail outfits focuses your contributions,your rate of return, dollar cost averaging.

(18:04):
They're not going to educate you onthose other really really important factors that
come into play in retirement. Andthat is why I would say, I
just had a conversation with a client, uh yesterday regarding this. You know,
I won't name the outfits he waswith, but you know he was
saying that he actually heard my show, our show, right, and we
were talking about social security and estateplanning and all the factors that come into

(18:27):
play. And he went to hisadvisor and said, can you assist me
with these things? And the advisorsaid, no, we don't do that
here. This is you know whatwe do. It's extremely important that when
you're making that step into retirement thatyou are working with somebody that specializes in
all those factors because they all areextremely critical in having a successful retirement.

(18:49):
And the phone number to reach outto Jake and the team eight five five
three one eight eight three eight seven. That's eight five five three one eight
eight three eight seven. Jake,when you think of retirees and especially those
who are coming into you, I'mgoing to put myself squarely in that.
I'm fifty six, so I'm notretiring tomorrow, but it's starting to get
a little more important. I understandthat you know that window of opportunities closing.

(19:15):
So what are some practical tips youwould give me at fifty six?
As I come in and start,you know, with my wife Maria,
and we're sitting down with you,what are some practical tips you would drop
on us in a visit. Imean, obviously, we'd look at currently
what you have, right, we'dperform that discovery and I would show you,
based upon what you currently have atyour targeted retirement date, how much

(19:37):
income that would generate you know,based on your social security, your investment
income, you know, there ispension so forth. But we would look
at those variables and then what wewould do from there is, look,
how can we improve this over thenext you know tenure right, well,
I can almost assure you one ofthose doctors that would come into play is

(19:57):
implementing a better TAK strategy, youknow, more focusing on contributing to post
tax versus pre tax, because that'swhat a lot of your generation has been
contributing to. Is the is thepre tax accounts, and ultimately that is
going to cause issues potentially if it'snot corrected in the future, you know,

(20:19):
and then making sure the beneficiaries arein line, you know, just
those simple things that matter so much, right, beneficiary structure, you know,
do you have your estate planning inplace? God forbid, something happens
to you and your wife or yourwife. Those will be the starting conversations.
Obviously, I want to talk toyou about what are your goals in
retirement in the future if you canforecast that, do you plan to stay

(20:41):
here? Are you going to relocate? What's important to you as far as
you know your risk tolerance going forward? What's going to give you that level
of comfort. Those are all variablesthat come into play, but ultimately trying
to show you building your level ofconfidence that yes, you can retire at
this specified age based upon this moneymap, this income that we're stating at

(21:02):
that specified age eight five, fivethree one eight eight three eight seven.
Jake and the team. And itis a team. Jake, I mean
Nate your attorney, Dear Dre yourattorney, Mike in health, Norman the
CPA, Clarissa's your office manager.It is those folks you I mean you
often say this. It's who yousurround yourself with to help people and get

(21:25):
people guided through the process. Well, yeah, I mean my job is
to advise on the financial side ofthings as well as you know, long
term care state planning. But I'mnot the attorney, right, so what
I find to be the best suitedin that area of expertise. We have
such a well established team here.Clients rave about how well they've assisted them,

(21:48):
you know, with their state planning, with their health care needs.
Get when you get to the ageof sixty five and it's time to elect
Medicare Part B, you also needthat supplemental plan, right, The eighty
twenty to fulfill your making sure thatyou're full coverage right on the insurance side,
but you want to make sure yourpremiums are reduced as much as possible
as well, and those are basedupon your just a gross income. And

(22:11):
I'll tell you right now, Mike, he's so good at putting making sure
that you know your prescriptions too.That's another fear. Oh right, gosh,
absolutely that in place. And sohe's just really good at making sure
you have the right plan for whatyou need at the lowest cost, the
most effective cost. From this articlethat we went over in next Avenue dot
Org for the show Today One Retire, he said, if you think you

(22:33):
want to live somewhere, rent first. And to me and Jake, I've
done this actually when my daughter hadto move to a community in New Mexico,
we airbnb'd for a week and becausewe felt like living in a neighborhood
for a week rather than being ina hotel, gave us a better feel
for the community. And I thinkthat is good advice for someone that is

(22:53):
retiring, if they feel like theywant to move somewhere, go airbnb it
for a week or two. Yeah, would not recommend just going to buy
a home somewhere that you've never lived. Okay, I would say that most
have if they're purchasing a home ina new location, that they have experience
that I would hope because you mightbe surprised and not in a good way.

(23:15):
So yes, I mean obviously thatgoes to me kind of without being
said, I don't want to gointo somewhere a new destination blind that a
lot of people are utilizing the Airbnband that's a good way that you can
kind of maneuver around and check outdifferent areas as well. Yeah, being
amongst a community rather than a hotel, exactly, exactly. Hey, well
let's get people in. Let's getJames Jimmy Sullivan Junior put to work,

(23:37):
our intake specialist, and how canthey reach you? Yeah, so this
is all about you write our clientsat every phase of this. First,
we're going to perform a discovery onwhat you currently have. We'll take your
four to one k's, your fourthree b's, iras, brokerage accounts,
and we'll analyze those for you withmorning Star Quante and a stress test so
you can see average way to returnover ten years. But you know,

(23:59):
also how much risk are you takingon to receive that return, will analyze
your overall tax liability, helping youto implement a tax strategy. Social Security
will evaluate your social security, makeit sure were implementing a quality strategy,
not necessarily maximizing social security, butmaximizing your lifestyle. And then we bring
everything over into our three bucket systemwith an emphasis on that paycheck bucket.

(24:21):
Generating income in retirement is imperative,ultimately bringing it down to the money map,
showing you how to specified age howmuch income you can obtain through your
lifetime. Give them out the call, let's sit down, no obligation.
It's just a one on one conversation, open dialogue, giving you the education
you need to make the right decisions. Numbers eight five five three one,
eight eight three eight seven again eightfive five three one eight eight three eight

(24:45):
seven, or you can look usup online at masswealthradio dot com. We'll
be right back with mass Wealth Radiocreating financial freedom from my friends of New
England. This is mass Wealth Radiowith Victoria Lowry. I'm Bruce Steinbrock.

(25:07):
You can reach the Lowry Financial Groupanytime at eight five five three one,
eight eight three eight seven that's eightfive, five three one eight eight three
eight seven, or you can lookthem up online at masswealthradio dot com.
Victoria, welcome to today's show.Well, thank you for having me in,

(25:30):
Bruce. Yeah, and we wantpeople to know that again, while
you are still dealing with Jake's passing, the Lowry Financial Group is continuing on.
I know you've met with clients,You've had the chance to meet and
reach out to and talk with alot of folks, tell people how things
are going for you, and youknow, again continuing to connect to the

(25:56):
Lowry Financial clients. Well, asyou know, was Jake's celebration of life.
So I was very fortunate and I'mblessed to have all this client coming
to support us and paying respect toJake. I was very trilled. It
was very emotional. I'm still grievingand I'm still trying to grieve, but

(26:18):
I still want to help client becauseJake his main focus was helping people,
trying to do his best to givethe best he can and guide them to
the right direction for their retirement process. So we are still going and moving
forward and keeping his legacy going.So we are open, we are ready

(26:44):
here, We're helping clients as muchas we can. I will be in
the office as much as I can. Of course, it's really hard to
come every day and be here,but I'm here, I'm assistant client,
I'm answering all their concern their questions, and we are still open and we
are still in business, and we'rekeeping Jake's legacy absolutely, And James Jimmy

(27:07):
Sullivan Junior, the intake specialist,is there and Clarissa is with you again
the number eight five five three oneeight eight three eight seven to reach the
lowry financial group and the one thing, Victoria that you told me, and
you want to use this opportunity inthe unfortunate opportunity. But you can speak
right to those ladies in the audiencewho maybe have found themselves in the same

(27:33):
spot that you have in connecting withthem on knowing they are not alone,
that you can help walk through withthem what they are going through. So
that and again if your spouse hasn'tpassed, that you can help them get
prepared for the time when one spousepasses. This is something you want to

(27:55):
now make your life's work correct.Absolutely. And since Jake passed and a
lot of friends have been reaching outbecause when you are in your forties,
you don't even think about it becauseyou are here. You're worrying about your
kids, you're worrying about your bills, you're worrying about your everyday life,
but you never think about that inone second, your life will be upside

(28:19):
down. So I am here tohelp people widows, single mom, you
can be married with kids, butyou want to have that peace of mind.
We are here to help you throughthis. I was very fortunate that
we are in this industry, soof course Jake has our family set up,

(28:40):
but still even with him being inthe business and me being in the
business for so many years, thereis always difficulties to go through things and
try to figure things out because youhave to grieve, you have kids,
you know, and you have togo through all this things. So we
are here. I just want tolet them know that I am here,

(29:00):
and I'm talking about my experience.Even being in the business and my husband
being in the business, it's alwayshard to deal with these things. So
we are here for people to helpthem through this. Of course, I
don't wish up on this on anyone, but I am here to help them

(29:21):
trough this or to help women incase of their husband passing. So that's
my main goal is try to helpas much as possible, because you cannot
believe, Bruce, how many friendshave been reaching out to me because they
had no plan. They have noplan, they don't even know how to

(29:41):
start. Yeah, and folks,if Jake's passing can do anything. It
signaled to you how prepared or unpreparedyou are in your retirement. And you
heard Victoria say even in your forties. It's something that you need to have
on your mind. If you're likeme in your fifties, you need to

(30:02):
have a plan. Reach out toVictoria and the Lowry Financial Group eight five
five three one eight eight three eightseven. Now you did tell us you're
going to have the two offices,the main office in Hingham and the satellite
office in the coming center in Beverlywill be the two operating offices moving forward

(30:22):
as people continue to work with you. Correct, absolutely, Bruce. So
our main office will be Hingham office, which is the main office, and
we're keeping the Beverly office as asatellite office to be able to make and
to meet our client and accommodate them. The people that are on the north
shore of Boston. And by theway, I know you are all visiting

(30:47):
Jake's dad, whose health has beendeclining. How is Jake's dad doing.
He's still in rehab. Actually,we are flying the kids and I back
to Wisconsin for Thanksgiving to be ableto believe it or not, the kids
wanted to have a picnic on Jake'sgrave because Thanksgiving was a very, very
big deal for Jake and for myfamily. We'll host Thanksgiving every year.

(31:12):
It's a big celebration. Jake wasone of his main and favorite holidays because
he was thankful for everything, forhis client, for his family, for
his friends, for us, foreverything. So it's a big celebration.
So we will be back to visitJake's dad and have a picnic on Thanksgiving

(31:34):
by Jake's graves. And I'm surethe kids will will have I guess as
good a time as they can,but I mean, celebrating Jake will will
be the fun because, as yousaid, Jake was the life of Thanksgiving
for the family. Again. Reachout to the Lowry Financial Group eight five
five three one eight eight three eightseven eight five five three one eight eight

(31:57):
three eight seven on the webits Masswealthradio dot Com You mentioned something when we
spoke a couple of weeks back,Victoria that when you and Jake started Lowry
Financial Group, Jake started it reallyfrom his car. I mean he wanted
and his first and foremost thought thenwas helping veterans and a number of the
base of your clients. How thecompany was built was on veterans who Jake

(32:24):
helped. And you said, ifsomebody would call on a Sunday evening at
six o'clock, Jake was going totake the call. They called Saturday afternoon
at two, he was going totake the call because he said, these
people need that help and if Ican spend ten or fifteen minutes with him
to solve their issue, then that'swhat I need to do. That's what
I'm called to do. And youmentioned driving to Bangor, Maine to meet

(32:46):
with people and try and help them. Talk about that and what that means
to you, because that's the foundationof Lowry Financial Group, and that's the
main reason, actually, Bruce,for me to keep his life. I
want to continue what he started andJake started about like helping veterans. As

(33:07):
you mentioned, we drove to Bengor, Main, we drove to Agawam,
we did whatever we could to helpour veterans and their surviving spouses. It
was also like even without veterans,any client, there is no advisor that
his client will have his cell phone. So when Jake used to hand the

(33:28):
cell phone number to his client hispersonal cell phone, they will be like
shocked because it was very personal,you know, giving your cell phone so
client could reach Jake anytime weekends,day off, Saturdays, in daytime,
because for him, it was theanswering that question that will make or give

(33:49):
his client that peace of mind.And then I know, in addition to
veterans, then he found and Iknow he and Phil Graham had worked on
some life products together and they talkeda lot on the show about helping those
who were underserved again maybe had gottento that medicaid portion of life where they

(34:10):
unfortunately maybe not had the five yearlook back and they didn't have all of
the education that they needed. AndJake said, here's another need that I
need to fill. And that wasfoundational to the business. Absolutely, absolutely,
and we do have a wonderful,great team. There are one of
the top people to help with thatin our office here in Massachusetts. They've

(34:34):
been in the business for over fortyyears and they're here to help our clients.
So when a client come to us, we start the process from start
to finish. We help them witheverything and anything from trust to will to
anything they need. So this isa package when you come and visit and
meet with us here at Loudy FinancialGroup, it's not just one thing specific

(35:00):
thing. We help you from thestart tell the end with anything all you
need for your planning, for yourretirement, for even after going to Assistant
Living, we'll be able to helpyou. So it's a process basically,
it really is folks. Again,it's the five spokes of the wheel that
Jake talks so much about and Victoriais talking about with the clients. The

(35:22):
income, the investments, the taxes, the healthcare and long term care,
and the estate and legacy planning.That's the five parts of the retirement wheel.
At Lowry Financial Group, they arestill in business. They have two
locations to serve you in the greaterBoston area. Derby Street in Hingham is
the main office. Satellite office inthe Coming Center in Beverly. Reach out

(35:44):
to Victoria and the Lowry Financial Groupteam eight five, five, three,
one, eight eight three, eightseven that's eight five five three one eight
eight three eight seven, or onthe web. You can find them at
masswealthradio dot com. We'll be backwith more mass radio right after this.

(36:07):
Hey, it's Grace Curly Jake onyour show mass Wealth Management. You offer
the Financial Freedom Analysis. What valuedoes this bring to families planning for retirement?
The Financial Freedom Analysis is all abouteducating our listeners. We examine all
your income sources, maximizing income,review your social Security options, when to
apply, and tax analysis. Moremoney going into your pocket, not to

(36:30):
the irs. Start creating financial freedomby calling us at eight five point five
three one eight eight three eight seven. This is a special edition of mass
Wealth Radio. I'm Bruce Steinbrock.We'll hear from Jake Lowry in just a
moment. Victoria would like to remindyou that Lowry Financial is open for business.

(36:54):
They have two offices to serve you, derby Straight and hang them in
the main office, Sad Office inthe Coming Center in Beverly. You can
reach Victoria and the Lowry Financial Groupat eight five five three one eight eight
three eight seven eight five five threeone eight eight three eight seven. Now
Mass Wealth Radio, Jake and theteam get questions all the time, whether

(37:15):
somebody comes in and sits down inchats, we're going to go over some
of those good questions from our listeners. Jake today here on the program,
opening the mail bag for mass WealthRadio. And the first question is,
I'm still quite a few years awayfrom retirement, but I have no idea
what my savings target should be.How much do I need to save so

(37:37):
I can have a comfortable retirement.Jake, this is the number one question
you get all the time, howmuch do I need? And until somebody
comes in and sits down and doesthe discovery and does the financial freedom analysis
and gives you the shoe box oflife, it's tough to adequately answer that.
But it is this. This isthe great burning question. But that's

(37:59):
why people need to get down andsit down face to face with you and
the team. Save as much asyou can contribute to your plans, always
up to the match. You know, that's something simple. If a company
is willing to match your contribution,you must do everything in your power to
least contribute up to that Percentageah,that's free money. It's free money.
It's one hundred percent return on yourmoney. Every single time guaranteed now and

(38:22):
somebody that's let's say, still inthe workforce asking about the WROTH potential in
your four oh one K is alsokey, is it not? It is?
It is? I mean, youknow how I stand today at forty
three years of age. I meanI am contributing, say eighty percent of
my contribution is to the tax freebucket. Now that's because of the era

(38:45):
that I'm growing up right, myadulthood is in. You know, it's
more more spoken about today, SoI've been able to take advantage of that.
But we can always implement a taxstrategy for you as well. You
know it's going to be over aperiod of time. But going forward,
I would say contributions to the taxrebucket, because that's something we have full
control over. We have full controlover our tax liability, okay, and

(39:09):
so if you're able to contribute tothat tax rebucket, you must take advantage.
And so we always recommend saving andcontributing to the tax rebucket. And
you think about this, Jake.The four to one K was created early
eighties, and really it was widelyadopted around nineteen eighty six nineteen eighty seven.
The WROTH did not come around untilthe late nineties, so really the

(39:34):
option hasn't always been there. Andagain I'm pointing right at myself. I'm
year two of the baby boom generation. Largely, we're going to get to
our retirement finish line with more dollarssaved in that pre tax dollar than that
post tax dollar. And that's whystrategy becomes so key. Well, ROTH
came out in the nineties, butI don't the contribution that you were able

(39:58):
to within the four to one k. Yeah, it was it until Yeah,
it's only been what ten twelve years, Yeah, and a lot of
employers are just starting to adopt thatnow. You know, we work with
our payroll system, paychecks, andyou know, they just brought that to
my attention maybe five years ago somethingalong those lines. Yeah. Right,
So it was just in conversation,you know, five years ago, and

(40:19):
within that four to one k withinthe bucket. So maybe back up,
A traditional ROTH IRA has limitations tothe contribution that are very minimal. You
know, sixty five hundred prior tocatchup, seventy five hundred after catchup based
upon your age within the four toone k. It's up to the four
one K parameters so at twenty thousand, five hundred or twenty six five,

(40:39):
which that's a lot more contribution thatyou have, you know, to put
into the wrath option. So withinthat those plans, I mean, we
have other plans that we established fortext regrowth, text free income as well,
that there's actually unlimited amount that youcan contribute. Has to be within
your budget, of course, butI mean a lot of doctors, a
lot of business owners will pursue thoseplans. I'm contributing to one as a

(41:02):
business owner. So there are otherstrategies out there for the tax free strategy.
Yeah. Eight five five three oneeight eight three eight seven. These
are the real conversations you can havewith Jake and the team eight five five
three one eight eight three eight sevenon the web at masswealthradio dot com.
Next question is, Jake, doyou like rental properties as a good source

(41:22):
of income for a retirement plan.Certainly that can't be the only component,
but there are some folks that dolike to be involved in kind of a
business, if you will, Jake, and owning rental property is one thing
that some people do to supplement theirretirement income. Yeah, I mean I
have quite a few clients that uhthat do own rental property and they will

(41:45):
utilize that as a part of theirportfolio. Right. You just you know,
there are variable it's still work,right, there's work you know that
goes into it, but you canutilize that as a supplemental income, you
know, to your social security andyour other investment income. So yeah,
I mean if it fits, ifit works, if you're obtaining the right
amount and rent rental income, thenyeah, I think it's a it is

(42:08):
a quality strategy within your portfolio.But something that again, if they're sitting
across the table from you and workingon their financial freedom analysis, these are
the kind of questions they can sitand pose to you face to face and
talk through it before they pull thetrigger on something. Right. And I
have clients that will come in thereare too heavy, which we would think

(42:30):
are too heavy into the real estate, and maybe they have five properties and
that's ninety percent of their retirement.I mean I've seen this, right,
and so that there's not a lotof liquidity there due to the you know,
investment within the real estate. Somaybe they'll sell a property to diversify

(42:51):
and create an income stream in anotherway. So it just it's a case
by case, right family to family, If that person has five real estates
is worth five million dollars besides thereal estate, then it's you know,
it's a different scenario, but it'sit is a case by case. But
I guess the mole to the storyis real estate can be a valuable part
of your portfolio, no doubt.Reach out to Jake and the team eight
five five three one eight eight threeeight seven, sit down, have the

(43:14):
conversation. Start the process. Retirementnot a sprint. It's a marathon,
folks, and you need to reallyput together that strategy. That's what Jake
and the team do. Reach outeight five five three one eight eight three
eight seven on the web atmasswealthradio dotcom. Three locations to serve you Derby
Street and Hangham and in the Comingcenter in Beverly. Next question in the

(43:35):
mailbag Jake is I think I havea pretty good handle on our strategy for
retirement, but I'm worried that I'mmissing something. Do you have some sort
of retirement savings to do or checklistto help me make sure I'm not forgetting
anything. So we have all kindsof checklists how to prepare for retirement but
really what it comes down to isevaluating your current investment strategy. We use

(44:00):
a lot of different variables when itcomes into play. I mean our three
bucket system with our paycheck bucket.You know, what we're doing with that
is we're we're minimizing the volatility eitherthat are eliminating it and and creating a
strategy where we have moderate earnings.So there's actually two factors that go into
play, minimizing or eliminating the exposurewith moderate earnings right to get consistent income.

(44:23):
And then also there's a guaranteed side, you know, where we're actually
creating a pension for you using differentinstruments as well. And then the you
know, the third bucket, that'sour investment strategy. So we might use
sixty different positions within that strategy,you know, maybe some dividend positions,
maybe some more strategic growth. Butit's all about actively managing those accounts.

(44:50):
So it's not there. I wouldn'tjust be able to give a checklist to
say do you have this, thisand that right right, because it you
know, everybody's a little different,and it's not really you do it yourself
situation, and that is really whyyou got to come in and see me,
right, Bruce. We always talkabout the building an accumulation phase.
Yes, when you're contributing right dollarcost averaging, you could probably just slide

(45:14):
yourself right into the S and Pfive hundred over the next thirty years and
be just fine. But as youget into that distribution phase we call retirement,
a lot more strategy needs to comeinto play. Oh my gosh,
absolutely, especially when it pertains totaxes. By the way, Jake would
be willing to give you a littlebit of a checklist. It's on the
website. If you go to masswealthradiodot com and scroll down, there's a

(45:37):
retirement income planning checklist. And thenof course reach out and talk to Jake
because there will be some questions thatyou're going to need to answer. But
you can download that checklist right nowat masswealthradio dot com and input your name
in your email address. It's adownloadable pdf to you. We're in the
mail bag on mass Wealth Radio.Final question today, Jake, I'm retiring

(45:58):
in the next five years, sois it of important to focus building up
an emergency fund? Well, obviouslyyou would like to have an emergency fund
all the time. I don't knowif right now is the right time.
But Jake, how do you dealwith emergency funds with folks, because it's
something that we do need. Yeah, So when we talk about the three
buckets, our first bucket is thatliquid bucket, right, then we have

(46:22):
the income bucket and then our securitiesalternative investment bucket. It is important to
have available cash to you in yourbank account. You know, you don't
want too much, right, youdon't want too much liquidity, but I
would say a good six months worththe salary is a good place to start,
you know, because if something happenson a Saturday and you need access

(46:42):
to a fair amount of funds,you want to be able to go obtain
that where it takes us, youknow, three to five business days to
transfer funds, and so having thatcash on hand is extremely important. You
just don't want too much because thenyour earning power is diminished, right,
and so you want to make sureyou have enough but not too much.
Yeah, no doubt. It's allabout the right balance. And that's why

(47:06):
you, Jake, have been doingthis for over two decades, helping people
get into and through retirement. Youstarted during the dot bomb era and you've
been able to learn from two Othree eight twenty twenty. You have a
lot of knowledge and wealth behind you, and you really do enjoy helping people

(47:27):
get into retirement and live those retirementdreams. My teeth had been cut well,
so some scar tissue here, butyou know, a teeth have big
cut well and those that was thetoughest time for I mean, it was
such a great experience because there wasso much volatility early on, right,
you know, my first couple ofyears in the industry, and I can
tell you right now, I mean, you learn a lot in an environment

(47:50):
like that, and it teaches youto be patient. It gives you the
experience, and you know, that'sreally a big part of what we bring
to the table is experience, patienceand the understanding of how these markets work,
in the trends, and making surethat we're creating that opportunity upfront,
right so that we can if thesethings take place over the next thirty years,

(48:10):
which they will, you know,whob up ups and downs and flat
markets, that we're prepared. Wewant to make sure that our clients are
prepared and comfortable. So give outsa call, Let's sit down, let's
let's you and I have that opendialogue conversation. Let's perform that discovery on
what you currently have. Let meshow you how we implement our three bucket
system with an emphasism that paycheck bugget. You have to have a paycheck in

(48:31):
retirement. It's imperative that you havethat paycheck and retirement to have the confidence
to live free. Give my alsocall the numbers eight five, five three
one, eight, eight three eightseven again eight five five three one eight
eight three eight seven, or youcan look us up online at Masswealth radio
dot com. This is mass WealthRadio firm offers insurance services. We are

(49:01):
an independent financial services firm helping individualscreate retirement strategies using a variety of insurance
products to customs suit their needs andobjectives. Any references to protection benefits or
steady and reliable income streams on thisradio show refer only to fixed insurance products.
They do not refer in any wayto securities or investment advisory products.
Annuity guarantees are backed by the financialstrength and claims painability of the issuing insurance

(49:24):
company. Annuities are insurance products thatmay be subject to fees, surrender charges,
and holding periods which vary by insurancecompany. Annuities are not FDIC insured.
The information and opinions contained in thisradio show are provided by third parties
and have been obtained from sources believedto be reliable, but accuracy and completeness
cannot be guaranteed. They are givenfor informational purposes only and are not a

(49:45):
solicitation to buy or sell any ofthe products mentioned. This information is not
intended to be used as the solebasis for financial decisions, nor should it
be construed as advice designed to meetthe particular needs of an individual's situation.
This radio show is a paid placement. Jake Lowry passed away about a month

(50:12):
ago, but Jake's family, includinghis wife Victoria, and his team at
Lowry Financial Group, aim to continueJake's legacy of serving his community and the
family He's built with his clients.Join us for a special hour of mass
Wealth Radio as we remember the lifeand legacy of Jake Lowry and what is

(50:35):
to come. This is mass WealthRadio. This is mass Wealth Radio with
Victoria Lowry. I'm Bruce Steinbrock.You can reach the Lowry Financial Group anytime
at eight five five three one,eight eight three eight seven. That's eight
five, five three one eight eightthree eight seven, or you can look

(50:59):
them up online at masswealthradio dot com. Victoria, welcome to today's show.
Well, thank you for having me, Bruce. Yeah, and we want
people to know that again, whileyou are still dealing with Jake's passing,
the Lowry Financial Group is continuing on. I know you've met with clients,
You've had the chance to meet andreach out to and talk with a lot

(51:22):
of folks, tell people how thingsare going for you, and you know,
again continuing to connect to the LoweryFinancial clients. Well, as you
know, November tenth was Jake's celebrationof life. So I was very fortunate
and I'm blessed to have all thisclient coming to support us and paying respect

(51:45):
to Jake. I was very trilled. It was very emotional. I'm still
grieving and I'm still trying to grieve, but I still want to help client
because Jake his main focus was helpingpeople, trying to do his best to
give the best he can and guidethem to the right direction for their retirement

(52:07):
process. So we are still goingand moving forward and keeping his legacy going.
So we are open, we areready here, We're helping clients as
much as we can. I willbe in the office as much as I
can. Of course, it's reallyhard to come every day and be here,

(52:27):
but I'm here, I'm assistant client, I'm answering all their concerns,
their questions, and we are stillopen and we are still in business and
we're keeping Jake's legacy absolutely, AndJames Jimmy Sullivan Junior, the intake specialist,
is there and Clarissa is with youagain the number eight five five three
one eight eight three eight seven toreach the lowry financial group and the one

(52:50):
thing, Victoria that you told me, and you want to use this opportunity
in the unfortunate opportunity. But youcan speak right to those ladies in the
audience who maybe have found themselves inthe same spot that you have in connecting
with them on knowing they are notalone, that you can help walk through

(53:12):
with them what they are going through. So that and again if your spouse
hasn't passed, that you can helpthem get prepared for the time when one
spouse passes. This is something youwant to now make your life's work correct.
Absolutely. And since Jake passing alot of friends have been reaching out
because when you are in your forties, you don't even think about it because

(53:37):
you are here. You're worrying aboutyour kids, you're worrying about your bills,
you're worrying about your everyday life,but you never think about that in
one second, your life will beupside down. So I am here to
help people widows, single mom,you can be married with kids, but
you want to have that peace ofmind. We are here to help you

(54:00):
true this. I was very fortunatethat we are in this industry, so
of course Jake has our family setup, but still even with him being
in the business and me being inthe business for so many years, there
is always difficulties to go through thingsand try to figure things out because you
have to grieve, you have kids, you know, and you have to

(54:22):
go through all this things. Sowe are here. I just want to
let them know that I am here, and I'm talking about my experience.
Even being in the business and myhusband being in the business, it's always
hard to deal with these things.So we are here for people to help
them through this. Of course,I don't wish up and this on anyone,

(54:44):
but I am here to help themthrough this or to help women in
case of their husband passing. Sothat's my main goal is try to help
as much as possible, because youcannot believe, Bruce, how many friends
have been reaching out to me becausethey had no plan. They have no

(55:04):
plan, they don't even know howto start. Yeah, and folks,
if Jake's passing can do anything.It signaled to you how prepared or unprepared
you are in your retirement. Andyou heard Victoria say even in your forties.
It's something that you need to haveon your mind. If you're like
me in your fifties, you needto have a plan. Reach out to

(55:28):
Victoria and the Lowry Financial Group eightfive five three one eight eight three eight
seven. Now you did tell usyou're going to have the two offices,
the main office in Hingham and thesatellite office in the coming center in Beverly
will be the two operating offices movingforward as people continue to work with you.

(55:49):
Correct, absolutely, Bruce. Soour main office will be Hingham office,
which is the main office, andwe're keeping the Beverly office as a
satellite office to be able to makeand to meet our client and accommodate them.
The people that are on the northshore of Boston now Victoria, as
you continue to process through this allI know, the listening audience and your

(56:13):
clients, I'm sure have also askedabout Aiden and Lilia. How are they
doing? How are they processing throughthis? Well, you know, it's
as I said, it's day byday's situation. I mean, the kids
were very close to Jake. Imean, Jake was a loving, caring
father and a husband as and afriend. I mean I had on the
day of the celebration client come incrying, people telling me they lost a

(56:37):
son. I had client coming likesaying he was part of the family.
It was more personal than any business. They loved him. So for the
kids, it's a day by dayprocess. You know, as a mom,
I have to grieve, I haveto take care of business. I
have to make sure my client areset. I have to be here for

(56:57):
them. But at the same time, at the end of the day,
I have to put that brave facefor my kids because they're ten years old
and they never thought of this willhappen. It's a tragedy. It's a
nightmare for them. Like they wakeup every morning and they're like, you
know, is this realm? Andunfortunately it is. And By the way,

(57:22):
I know you were all visiting Jake'sdad, whose health has been declining.
How is Jake's dad doing, Oh, he's still in rehab. Actually,
we are flying the kids and Iback to Wisconsin for Thanksgiving to be
able to believe it or not,the kids wanted to have a picnic on
Jake's grave because Thanksgiving was a very, very big deal for Jake and for

(57:45):
my family. We'll host Thanksgiving everyyear. It's a big celebration. Jake
was one of his main and favoriteholidays because he was thankful for everything,
for his client, for his family, for his friend, and for us
for everything. So it's a bigcelebration. So we will be back to
visit Jake's dad and have a picnicon Thanksgiving by Jake's graves. And I'm

(58:10):
sure the kids will will have Iguess as good a time as they can.
But I mean, celebrating Jake willwill be the fun because, as
you said, Jake was the lifeof Thanksgiving for the family. Again.
Reach out to the Lowry Financial Groupeight five five three one eight eight three
eight seven eight five five three oneeight eight three eight seven on the Webit'smasswealth

(58:32):
radio dot Com You mentioned something whenwe spoke a couple of weeks back,
Victoria that when you and Jake startedLowry Financial Group, Jake started it really
from his car. I mean hewanted and his first and foremost thought then
was helping veterans and a number ofthe base of your clients. How the
company was built was on veterans whoJake helped. And you said, if

(58:58):
somebody would call on on a Sundayevening at six o'clock, Jake was going
to take the call. They calledSaturday afternoon at two, he was going
to take the call because he said, these people need that help and if
I can spend ten or fifteen minuteswith them to solve their issue, then
that's what I need to do.That's what I'm called to do. And
you mentioned driving to Bangor, Maineto meet with people and try and help

(59:20):
them talk about that and what thatmeans to you, because that's the foundation
of Lowry Financial Group, and that'sthe main reason, actually, Bruce,
for me to keep his legacy.I want to continue what he started and
Jake started about helping veterans. Asyou mentioned, we drove to Bengor,
Maine, We drove to Agawam.We did whatever we could to help our

(59:45):
veterans and their surviving spouses. Itwas also like even without veteran, any
client, there is no advisor thathis client will have his cell phone.
So when Jake used to hand thecell phone number to his client his personal
cell phone, they would be likeshocked because it was very personal, you
know, giving your cell phone soclient could reach Jake anytime weekends, day

(01:00:10):
off, Saturdays, daytime, becausefor him it was answering that question that
will make or give his client thatpeace of mind. And then I know,
in addition to veterans, then hefound and I know he and Phil
Graham had worked on some life productstogether and they talked a lot on the

(01:00:30):
show about helping those who were underservedagain maybe had gotten to that medicaid portion
of life where they unfortunately maybe nothad you know, the five year look
back, and they didn't have allof the education that they needed. And
Jake said, here's another need thatI need to fill. And that was

(01:00:50):
foundational to the business. Absolutely,absolutely, And we do have a wonderful,
great team. There are one ofthe top people to help with that
in our office here in Massachusetts.They've been in the business for over forty
years and they're here to help ourclients. So when a client come to
us, we start the process fromstart to finish. We help them with

(01:01:12):
everything and anything from trust to willto anything they need. So this is
a package. When you come andvisit and meet with us here at Lowry
Financial Group, it's not just onething specific thing. We help you from
the start tell the end with anythingall you need for your planning, for
your retirement, for even after goingto Assistant Living, we'll be able to

(01:01:37):
help you. So it's a processbasically, it really is folks. Again,
it's the five spokes of the wheelthat Jake talks so much about in
Victoria is talking about with the clientsthe income, the investments, the taxes,
the healthcare and long term care,and the estate and legacy planning.
That's the five parts of the retirementwheel. At Lowry Financial Group, they

(01:01:58):
are still in business. They havetwo locations to serve you in the Greater
Boston area. Derby Street in Hinghamis the main office. Satellite office in
the Coming Center in Beverly. Reachout to Victoria and the Lowry Financial Group
team eight five, five, threeone eight eight three eight seven. That's
eight five five three one eight eightthree eight seven, or on the web.

(01:02:19):
You can find them at masswealthradio dotcom. We'll be back with more
mass Wealth Radio right after this.I'm Grace Curley and you are listening to
the Voice of Boston AM six eightyWRKO. More mass Wealth Radio coming up
next. Hey, it's Grace CurlyJake on your show mass Wealth Management.
You offer the Financial Freedom Analysis.What value does this bring to families planning

(01:02:43):
for retirement? The Financial Freedom Analysisis all about educating our listeners. We
examine all your income sources, maximizingincome, preview your social Security options,
when to apply, and tax analysis. More money going into your pocket,
not to the irs. Start creatingfinding answer freedom by calling us at eight
five five three one eight eight threeeight seven. This is a special edition

(01:03:13):
of mass Wealth Radio. I'm BruceSteinbrock. Jake Lowry passed in October.
His wife Victoria is continuing on theLowry Financial Group with two locations to serve
you, the main office on DerbyStreet in Hingham and the satellite office in
the Coming Center in Beverly. Victoria, Jimmy, Clarissa and the team will

(01:03:37):
continue on in Jake's memory to servethe people of the Greater Boston area.
The number to reach out to theLowry Financial Group eight five five three one
eight eight three eight seven. That'seight five five three one eight eight three
eight seven now mass Wealth Radio.Jake, Welcome to the show. How
are we doing, Bruce doing great? It's interesting a lot of times if

(01:03:58):
we really step back and listen tosome of those who've come before us,
we can learn a lot. Andretirees recently we ran across an article that
they were given some wisdom. Thisis according to next Avenue dot org that's
where the article was published. Andsome of the retirees of today, they
said, here are some things youmight miss, the challenge and comfort of

(01:04:21):
having a place to go every dayif you aren't prepared for the You know
a lot of people and they lovetheir work life because they're around people,
probably that they enjoy being around onall those things. Another retiree said they
retired at the age of sixty andthey were traveling with their wife, and
by the age of seventy he saidhe was ready for a job of some

(01:04:42):
sort. He missed the routine andthe camaraderie. And another retire. In
the article said be prepared to beflexible even with long held dreams. This
is especially important advice for couples whenone has a change of art about travel
plan. So I think there's probablysome words of wisdom in there. And
you've run across that in the lasttwenty plus years with those who have retired

(01:05:05):
and lived it for a little while, have you not. Well, Yeah,
you get into a routine. You'vebeen working for thirty forty years,
m right, and it's a routine. And I think a big aspect of
it is the camaraderie side. Youknow, you're working on the site or
in the office, it's a friendshipthat's established with some of your colleagues.
You know, where you share whatyou did last weekend, or you know

(01:05:26):
someone to talk to and there's alevel of comfort there. And then when
you stop working, you know thatgoes away, right, I mean,
you might connect with these people hereand there, but that's not the daily
routine of going to work having theconversations with the same people. Most of
my clients, you have friends outsideof work, and that's where it becomes
important. You know, what areyour hobbies, finding what you like to

(01:05:47):
do, being prepared. As theysaid, you know, if it's golfing
that you like to do, makesure you have that tea time with those
other retired friends of yours and youknow, be able to enjoy that camaraderie.
It's the transition of camaraderie, right, and where who you're communicating with
and connecting with. But I havea lot of clients that will go back
to work to a certain extent,a part time job, maybe something that's

(01:06:09):
less stressful, something that they enjoy. I have clients that go work at
the golf course. I have clientsthat have gone to work over at home
depot. You know they like thesawwood or Greek people, right, So
there is a level of that,and you don't want to if you're not
prepared, a level of loneliness orI hate to say the word depression.

(01:06:30):
Sure that can set into place.So you want to make sure you are
prepared. Eight five five three oneeight eight three eight seven is the phone
number to reach out to Jake andthe Mass Wealth Management team. Eight five
five three one eight eight three eightseven. And I'm sure Jake that yes
there's nuts and bolts. You're talkingabout income investments, taxes, healthcare,
long term care, and a stateand legacy planning. But part of the

(01:06:50):
conversations that you have with individuals andcouples here in the Greater New England area
is about those things because there arechanges you do try and let them lean
into this. What are those conversationslike when people are a client of yours
for say five years, and theyretired at sixty two, and now they're
sixty seven and you're checking in withthem at midyear and they're talking about,

(01:07:14):
yeah, Jacob, I don't knowif this retirement things for me. So
do you lean into them and talkabout maybe a part time job or something
like that. There's usually two situationswhere that will come into play, supplementing
income and also finding activities something thatthey need to fulfill some of their life
right a space in their life.But when you're talking about social security investment

(01:07:36):
strategy, we utilize our three bucketsystem their pay check bucket, social security,
a state planning, long term care, planning, tax strategy. Those
are all requirements in this chapter oflife we call retirement. You know,
when you're in that building an accumulationphase. A lot of the big but

(01:07:56):
what we call the big box retailoutfits. This is your contributions, your
rate of return, dollar cost averaging. They're not going to educate you on
those other really really important factors thatcome into play in retirement. And that
is why I would say, Ijust had a conversation with a client,
uh yesterday regarding this. You know, I won't name the outfits he was

(01:08:17):
with, but you know he wassaying that he actually heard my show,
our show, right, and wewere talking about social security and estate planning
and all the factors that come intoplay. And he went to his advisor
and said, can you assist mewith these things? And the advisor said,
no, we don't do that here. This is you know, what
we do. It's extremely important thatwhen you're making that step into retirement that

(01:08:41):
you are working with somebody that specializesin all those factors because they all are
extremely critical in having a successful retirement. And the phone number to reach out
to Jake and the team eight fivefive three one eight eight three eight seven.
That's eight five five three one eighteight three eight seven. Jake,
when you think of retirees and especiallythose who are coming into you, I'm

(01:09:02):
going to put myself squarely in that. I'm fifty six. So I'm not
retiring tomorrow, but it's starting toget a little more important. I understand
that, you know, that windowof opportunities closing. So what are some
practical tips you would give me atfifty six? As I come in and
start, you know, with mywife Maria and we're sitting down with you,

(01:09:23):
what are some practical tips you woulddrop on us in a visit.
I mean, obviously, we'd lookat currently what you have, right,
we'd perform that discovery, and Iwould show you, based upon what you
currently have at your targeted retirement date, how much income that would generate.
You know, based on your socialsecurity, your investment income, you know

(01:09:44):
there is pension, so forth.But we would look at those variables and
then what we would do from thereis, look, how can we improve
this over the next you know tenure? Right? Well, I can almost
assure you one of those doctors thatwould come into play is implementing a better
tax strategy, you know, morefocusing on contributing to post tax versus pre

(01:10:05):
tax, because that's what a lotof your generation has been contributing to is
the is the pre tax accounts,and ultimately that is going to cause issues
potentially if it's not corrected in thefuture, you know, and then making
sure the beneficiaries are in line,you know, just those simple things that
matter so much, right, beneficiarystructure, you know, do you have

(01:10:27):
your estate planning in place? Godforbid something happens to you and your wife
or your wife. Those will bethe starting conversations. Obviously, I want
to talk to you about what areyour goals in retirement in the future if
you can forecast that, do youplan to stay here? Are you going
to relocate? What's important to you? As far as you know your risk
tolerance going forward? What's going togive you that level of comfort. Those

(01:10:49):
are all variables that come into play, but ultimately trying to show you building
your level of confidence that yes,you can retire at this specified age based
upon this money map, this incomethat we're stating at that specified age eight
five five three one eight, eightthree eight seven. Jake and the team,
And it is a team. Jake, I mean Nate your attorney,

(01:11:12):
deer Dre your attorney, Mike inhealth, Norman the CPA, Clarissa's your
office manager. It is those folksyou I mean you often say this,
it's who you surround yourself with tohelp people and get people guided through the
process. Well, yeah, Imean my job is to advise on the
financial side of things as well asyou know, long term care state planning.

(01:11:34):
But I'm not the attorney, right, so what I find to be
the best suited in that area ofexpertise. We have such a well established
team here, Clients rave about howwell they've assisted them, you know,
with their state planning, with theirhealth care needs. Get when you get
to the age of sixty five andit's time to elect Medicare Part B,

(01:11:57):
you also need that supplemental plan rightthe eighty twenty to fulfill your making sure
that you're have full coverage right onthe insurance side, but you want to
make sure your premiums are reduced asmuch as possible as well, and those
are based upon your just a grossincome. And I'll tell you right now,
Mike, he's so good at puttingmaking sure that you know your prescriptions
too. That's another fear, ohright, goshah, absolutely of that in

(01:12:19):
place. And so he's just reallygood at making sure you have the right
plan for what you need at thelowest cost, the most effective cost.
From this article that we went overin Next Avenue dot Org for the show
Today One Retire. He said,if you think you want to live somewhere,
rent first, and to me andJake, I've done this actually,
when my daughter had to move toa community in New Mexico, we airbnb'd

(01:12:44):
for a week and because we feltlike living in a neighborhood for a week
rather than being in a hotel,gave us a better feel for the community.
And I think that is good advicefor someone that is retiring, if
they feel like they want to movesomewhere, go airbnb it for a week
or two. Yeah, I wouldnot recommend just going to buy a home
somewhere that you've never lived, Okay, I would say that most have if

(01:13:06):
they're purchasing a home in a newlocation, that they have experience that I
would hope because you might be surprisedand not in a good way. So
yes, I mean obviously that goesto me kind of without being said,
I don't want to go into somewherea new destination. Blind that a lot
of people are utilizing the airbnb andthat's a good way that you can kind
of maneuver around and check out differentareas as well, yeah, being amongst

(01:13:29):
a community rather than a hotel.Exactly. Exactly. He Well, let's
get people in. Let's get JamesJimmy Sullivan Junior put to work our intake
specialist, and how can they reachyou? Yeah, so this is all
about you write our clients at everyphase of this. First, we're going
to perform a discovery on what youcurrently have. We'll take your four to
one k's, your four three b'siras, brokerage accounts, and we'll analyze

(01:13:53):
those for you with morning Star quanteand a stress test so you can see
average way to return over ten years, but you know also how much risker
you take it on to receive thatreturn. Will analyze your overall tax liability,
helping you to implement a tax strategy. Social Security will evaluate your social
security, make it sure're implementing aquality strategy, not necessarily maximizing social security,

(01:14:14):
but maximizing your lifestyle. And thenwe bring everything over into our three
bucket system with an emphasis on thatpaycheck bucket. Generating income in retirement is
imperative, ultimately bringing it down tothe money map, showing you how to
specified age how much income you canobtain for your lifetime give outse a call,
let's sit down, no obligation,It's just a one on one conversation,
open dialogue, giving you the educationyou need to make the right decisions.

(01:14:38):
Numbers eight five five three one,eight eight three eight seven again eight
five five three one, eight eightthree eight seven, or you can look
us up online at masswealthradio dot com. We'll be right back with mass Wealth
Radio creating financial freedom from my friendsof New England. This is mass Wealth

(01:15:03):
Radio with Victoria Lowry. I'm BruceSteinbrock. You can reach the Lowry Financial
Group anytime at eight five five threeone eight eight three eight seven. That's
eight five five three one eight eightthree eight seven, or you can look
them up online at masswealthradio dot com. Victoria, welcome to today's show.

(01:15:29):
Well, thank you for having mein. Bruce. Yeah, and we
want people to know that again,while you are still dealing with Jake's passing,
the Lowry Financial Group is continuing on. I know you've met with clients,
You've had the chance to meet andreach out to and talk with a
lot of folks, tell people howthings are going for you, and you

(01:15:53):
know, again continuing to connect tothe Lowry Financial clients. Well, as
you know, November was Jake's celebrationof life. So I was very fortunate
and I'm blessed to have all thisclient coming to support us and paying respect
to Jake. I was very trilled. It was very emotional. I'm still

(01:16:15):
grieving and I'm still trying to grieve, but i still want to help client
because Jake his main focus was helpingpeople, trying to do his best to
give the best he can and guidethem to the right direction for their retirement
process. So we are still goingand moving forward and keeping his legacy going.

(01:16:41):
So we are open, we areready here, We're helping clients as
much as we can. I willbe in the office as much as I
can. Of course, it's reallyhard to come every day and be here,
but I'm here. I'm assistant client. I'm answering all their concerns their
questions, and we are still openand we are still in business, and

(01:17:03):
we're keeping Jake's legacy absolutely. AndJames Jimmy Sullivan Junior, the intake Specialist,
is there and Clarissa is with youagain. The number eight five five
three one eight eight three eight sevento reach the Lowry Financial Group and the
one thing, Victoria that you toldme, and you want to use this
opportunity in the unfortunate opportunity. Butyou can speak right to those ladies in

(01:17:29):
the audience who maybe have found themselvesin the same spot that you have in
connecting with them on knowing they arenot alone, that you can help walk
through with them what they are goingthrough. So that and again if your
spouse hasn't passed, that you canhelp them get prepared for the time when

(01:17:51):
one spouse passes. This is somethingyou want to now make your life's work
correct. Absolutely, And since Jakepassing, a lot of friends have been
reaching out because when you are inyour forties, you don't even think about
it because you are here. You'reworrying about your kids, you're worrying about

(01:18:11):
your bills, you're worrying about youreveryday life, but you never think about
that in one second, your lifewill be upside down. So I am
here to help people widows, singlemom, you can be married with kids,
but you want to have that peaceof mind. We are here to
help you through this. I wasvery fortunate that we are in this industry.

(01:18:35):
So of course Jake has our familyset up, but still even with
him being in the business and mebeing in the business for so many years,
there is always difficulties to go throughthings and try to figure things out
because you have to grieve, youhave kids, you know, and you
have to go through all this things. So we are here. I just

(01:18:58):
want to let them know that Iam here and I'm talking about my experience.
Even being in the business and myhusband being in the business. It's
always hard to deal with these things. So we are here for people to
help them through this. Of course, I don't wish up on this on
anyone, but I am here tohelp them through this, or to help

(01:19:21):
women in case of their husband passing. So that's my main goal is try
to help as much as possible becauseyou cannot believe, Bruce, how many
friends have been reaching out to mebecause they had no plan. They have
no plan, they don't even knowhow to start. Yeah, and folks,

(01:19:44):
if Jake's passing can do anything.It signaled to you how prepared or
unprepared you are in your retirement.And you heard Victoria say, even in
your forties, it's something that youneed to have on your mind. If
you're like in your fifties, youneed to have a plan reach out to
Victoria and the Lowry Financial Group eightfive five three one eight eight three eight

(01:20:11):
seven. Now you did tell usyou're going to have the two offices,
the main office in Hingham and thesatellite office and the coming center in Beverly
will be the two operating offices movingforward as people continue to work with you.
Correct, absolutely, Bruce. Soour main office will be Hingham office,
which is the main office, andwe're keeping the Beverly office as a

(01:20:33):
satellite office to be able to makeand to meet our client and accommodate them,
the people that are on the northshore of Boston. And by the
way, I know you were allvisiting Jake's dad, whose health has been
declining. How is Jake's dad doing. He's still in rehab. Actually,

(01:20:54):
we are flying the kids and Iback to Wisconsin for Thanksgiving to be able
to believe it or not, thekids wanted to have a picnic on Jake's
grave because Thanksgiving was a very verybig deal for Jake and for my family.
We'll host Thanksgiving every year. It'sa big celebration. Jake was one

(01:21:16):
of his main and favorite holidays becausehe was thankful for everything, for his
client, for his family, forhis friends, for us, for everything.
So it's a big celebration. Sowe will be back to visit Jake's
dad and have a picnic on Thanksgivingby Jake's graves. And I'm sure the

(01:21:36):
kids will will have I guess asgood a time as they can. But
I mean celebrating Jake will will bethe fun because, as you said,
Jake was the life of Thanksgiving forthe family. Again. Reach out to
the Lowry Financial Group eight five fivethree one eight eight three eight seven eight

(01:21:57):
five five three one eight eight threeeight seven on the web it's mass Wealth
radio dot com. You mentioned somethingwhen we spoke a couple of weeks back,
Victoria that when you and Jake startedLowry Financial Group, Jake started it
really from his car. I meanhe wanted and his first and foremost thought
then was helping veterans, and anumber of the base of your clients.

(01:22:19):
How the company was built was onveterans who Jake helped. And you said,
if somebody would call on a Sundayevening at six o'clock, Jake was
going to take the call. Theycalled Saturday afternoon at two, he was
going to take the call because hesaid, these people need that help and
if I can spend ten or fifteenminutes with him to solve their issue,

(01:22:40):
then that's what I need to do. That's what I'm called to do.
And you mentioned driving to Bangor,Maine to meet with people and try and
help them. Talk about that andwhat that means to you, because that's
the foundation of Lowry Financial Group,and that's the main reason actually, Bruce,
for me to keep his legacy.I want to continue what he started

(01:23:02):
and Jake started about like helping veterans. As you mentioned, we drove to
Bengor, Main, we drove toAgawam. We did whatever we could to
help our veterans and their surviving spouses. It was also like even without veterans,
any client, there is no advisorthat his client will have his cell

(01:23:26):
phone. So when Jake used tohand the cell phone number to his client
his personal cell phone, they willbe like shocked because it was very personal,
you know, giving your cell phoneso client could reach Jake anytime weekends,
day off, Saturdays, in daytimebecause for him, it was the
answering that question that will make orgive his client that peace of mind.

(01:23:50):
And then I know in addition toveterans. Then he found and I know
he and Phil Graham had worked onsome life products to get other and they
talked a lot on the show abouthelping those who were underserved again maybe had
gotten to that medicaid portion of lifewhere they unfortunately maybe not had you know,

(01:24:13):
the five year look back, andthey didn't have all of the education
that they needed. And Jake said, here's another need that I need to
fill. And that was foundational tothe business, absolutely absolutely, And we
do have a wonderful, great team. There are one of the top people
to help with that in our officehere in Massachusetts. They've been in the

(01:24:34):
business for over forty years and they'rehere to help our clients. So when
a client come to us, westart the process from start to finish.
We help them with everything and anythingfrom trust to will to anything they need.
So this is a package. Whenyou come and visit and meet with

(01:24:55):
us here at Loudy Financial Group,it's not just one thing specific thing.
We help you from the start tellthe end with anything all you need for
your planning, for your retirement,for even after going to assistant living,
we'll be able to help you.So it's a process. Basically, it
really is folks. Again, it'sthe five spokes of the wheel that Jake

(01:25:18):
talks so much about in Victoria istalking about with the clients the income,
the investments, the taxes, thehealthcare and long term care, and the
estate and legacy planning. That's thefive parts of the retirement wheel. At
Lowry Financial Group, they are stillin business. They have two locations to
serve you in the greater Boston area. Derby Street in Hingham is the main

(01:25:40):
office. Satellite office in the ComingCenter in Beverly. Reach out to Victoria
and the Lowry Financial Group team eightfive five three one eight eight three eight
seven. That's eight five five threeone eight eight three eight seven, or
on the web. You can findthem at masswealthradio dot com. We'll be
back with more mass Wealth right afterthis. Hey, it's Grace Curly Jake

(01:26:09):
on your show mass Wealth Management.You offer the Financial Freedom Analysis. What
value does this bring to families planningfor retirement? The Financial Freedom Analysis is
all about educating our listeners. Weexamine all your income sources, maximizing income,
review your social Security options, whento apply, and tax analysis.
More money going into your pocket,not to the irs start creating financial freedom

(01:26:31):
by calling us at eight five fivethree one eight eight three eight seven.
This is a special edition of massWealth Radio. I'm Bruce Steinbrock. We'll
hear from Jake Lowry in just amoment. Victoria would like to remind you
that Lowry Financial is open for business. They have two offices to serve you.

(01:26:57):
Derby straight and hang them in themain office satellite in the coming center
in Beverly. You can reach Victoriaand the Lowry Financial Group at eight five
five three one, eight eight threeeight seven eight five five three one eight
eight three eight seven. Now massWealth Radio, Jake and the team get
questions all the time, whether somebodycomes in and sits down in chats,

(01:27:17):
we're going to go over some ofthose good questions from our listeners. Jake
today here on the program opening themail bag for mass Wealth Radio. And
the first question is I'm still quitea few years away from retirement, but
I have no idea what my savingstarget should be. How much do I
need to save so I can havea comfortable retirement. Jake, this is

(01:27:40):
the number one question you get allthe time, how much do I need?
And until somebody comes in and sitsdown and does the discovery and does
the financial freedom analysis and gives youthe shoe box of life. It's tough
to adequately answer that, but itis this, This is the great burning
question. But that's why people willneed to get down and sit down face

(01:28:00):
to face with you and the team. Save as much as you can contribute
to your plans, always up tothe match. You know, that's something
simple. If a company is willingto match your contribution, you must do
everything in your power to least contributeup to that Percentageah, that's free money.
It's free money. It's one hundredpercent return on your money, every
single time, guaranteed. Now,and somebody that's let's say still in the

(01:28:24):
workforce, asking about the wroth potentialin your four oh one k is also
key, is it not? Itis? It is? I mean,
you know how I stand today atforty three years of age. I mean
I am contributing, say eighty percentof my contribution is to the tax free
bucket. Now that's because of theera that I'm growing up right, My

(01:28:46):
adulthood is in you know, it'smore more spoken about today. So I've
been able to take advantage of thatbut we can always implement a tax strategy
for you as well. You knowit's going to be over a period of
time. But going forward, Iwould say contributions to the tax rebucket because
that's something we have full control over. We have full control over our tax

(01:29:08):
liability, okay, and so ifyou're able to contribute to that tax rebucket,
you must take advantage. And sowe always recommend saving and contributing to
the tax rebucket. And you thinkabout this, Jake. The four to
one K was created early eighties,and really it was widely adopted around nineteen
eighty six nineteen eighty seven. TheWROTH did not come around until the late

(01:29:31):
nineties. So really the option hasn'talways been there. And again I'm pointing
right at myself. I'm year twoof the Baby boom generation. Largely,
we're going to get to our retirementfinish line with more dollars saved in that
pre tax dollar than that post taxdollar. And that's why strategy becomes so

(01:29:51):
key. Well, ROTH came outin the nineties, but I don't the
contribution that you were able to withinthe four to one K was it until
Yeah, it's only been what tentwelve years. Yeah, and a lot
of employers are just starting to adoptthat now. You know, we work
with our payroll system paychecks, andyou know they just brought that to my

(01:30:12):
attention maybe five years ago something alongthose lines. Yeah, right, So
it was just in conversation, youknow, five years ago. And within
that four to one K within thebucket, so maybe back up, a
traditional roth IRA has limitations to thecontribution that are very minimal, you know,
sixty five hundred prior to catchup,seventy five hundred after catchup based upon
your age. Within the four toone K, it's up to the four

(01:30:35):
one K parameters. So at twentythousand, five hundred or twenty six five
which that's a lot more contribution thatyou have, you know, to put
into the WROTH option. So withinthat those plans, I mean, we
have other plans that we established fortext regrowth, text free income as well
that there's actually unlimited amount that youcan contribute. Has to be within your

(01:30:55):
budget, of course, but Imean a lot of doctors, a lot
of business owners will pursue those plans. I'm contributing to one as a business
owner. So there are other strategiesout there for the tax free strategy.
Yeah. Eight five five three oneeight eight three eight seven. These are
the real conversations you can have withJake and the team at eight five five

(01:31:15):
three one eight eight three eight sevenon the web at masswealthradio dot com.
Next question is, Jake, doyou like rental properties as a good source
of income for a retirement plan.Certainly that can't be the only component,
but there are some folks that dolike to be involved in kind of a
business, if you will, Jake, and owning rental property is one thing

(01:31:35):
that some people do to supplement theirretirement income. Yeah, I mean I
have quite a few clients that,uh that do own rental property and they
will utilize that as a part oftheir portfolio. Right. You just you
know, there are variable it's stillwork, right, there's work you know
that goes into it, but youcan utilize that as as supplemental income,

(01:31:57):
you know, to your social Securityand your other investment income. So yeah,
I mean if it fits, ifit works, if you're obtaining the
right amount and rent rental income,then yeah, I think it's a it
is a quality strategy within your portfolio, but something that again, if they're
sitting across the table from you andworking on their financial freedom analysis. These

(01:32:18):
are the kind of questions they cansit and pose to you face to face
and talk through it before they pullthe trigger on something. Right, And
I have clients that will come inthere are too heavy, which we would
think are too heavy into the realestate. And maybe they have five properties
and that's ninety percent of their retirement. I mean, I've seen this right,

(01:32:40):
and so that there's not a lotof liquidity there due to the you
know, investment within the real estate. So maybe they'll sell a property to
diversify and create an income stream inanother way. So it just it's a
case by case, right, familyto family. If that person has five
real estates is worth five million dollarssides the real estate, then it's you
know, it's a different scenario,but it's it is a case by case.

(01:33:04):
But I guess the mole to thestory is real estate can be a
valuable part of your portfolio, nodoubt. Reach out to Jake and the
team eight five, five, threeone, eight, eight three, eight
seven, sit down, have theconversation. Start the process. Retirement not
a sprint. It's a marathon,folks, and you need to really put
together that strategy. That's what Jakeand the team do. Reach out eight

(01:33:26):
five five three one eight eight threeeight seven on the web atmasswealthradio dot com.
Three locations to serve you, DerbyStreet and Hangham and in the Coming
center in Beverly. Next question inthe mailbag Jake is I think I have
a pretty good handle on our strategyfor retirement, but I'm worried that I'm
missing something. Do you have somesort of retirement savings to do or checklist

(01:33:46):
to help me make sure I'm notforgetting anything. So we have all kinds
of checklists how to prepare for retirement, but really what it comes down to
is evaluating your current investment strategy.We use a lot of different variables when
it comes into play. I meanour three bucket system with our paycheck bucket.
You know what we're doing with thatis we're we're minimizing the volatility either

(01:34:09):
that are eliminating it and creating astrategy where we have moderate earnings. So
there's actually two factors that go intoplay. Minimizing or eliminating the exposure with
moderate earnings right to get consistent income. And then also there's a guaranteed side,
you know, where we're actually creatinga pension for you using different instruments

(01:34:29):
as well. And then the youknow, the third bucket, that's our
investment strategy. So we might usesixty different positions within that strategy, you
know, maybe some dividend positions,maybe some more strategic growth, but it's
all about actively managing those accounts.So it's not there. I wouldn't just

(01:34:50):
be able to give a checklist tosay do you have this, this and
that right right, because it youknow, everybody's a little different and it's
not really a do it yourself situation, and that is really why you got
to come in and see me,right, Bruce. We always talk about
the building accumulation phase. Yes,when you're contributing right dollar cost averaging,

(01:35:12):
you could probably just slide yourself rightinto the S and P five hundred over
the next thirty years and be justfine. But as you get into that
distribution phase we call retirement, alot more strategy needs to come into play.
Oh my gosh, absolutely, especiallywhen it pertains to taxes. By
the way, Jake would be willingto give you a little bit of a
checklist. It's on the website.If you go to masswealthradio dot com and

(01:35:35):
scroll down, there's a retirement incomeplanning checklist, and then of course reach
out and talk to Jake because therewill be some questions that you're going to
need to answer. But you candownload that checklist right now at masswealthradio dot
com and input your name in youremail address. It's a downloadable pdf to
you. We're in the mail bagon mass Wealth Radio. Final question today,

(01:35:56):
Jake, I'm retiring in the nextfive years, so is it a
important to focus building up an emergencyfund? Well, obviously you would like
to have an emergency fund all thetime. I don't know if right now
is the right time. But Jake, how do you deal with emergency funds
with folks, because it's something thatwe do need. Yeah, So when
we talk about the three buckets,our first bucket is that liquid bucket,

(01:36:20):
right then we have the income bucket, and then our securities alternative investment bucket.
It is important to have available cashto you in your bank account.
You know, you don't want toomuch, right you don't want too much
liquidity, but I would say agood six months worth the salary is a
good place to start. You know, because if something happens on a Saturday

(01:36:41):
and you need access to a fairamount of funds, you want to be
able to go obtain that where ittakes us, you know, three to
five business days to transfer funds,and so having that cash on hand is
extremely important. You just don't wanttoo much, because then your earning power
is diminished, right, and soyou want to make sure you have enough,
but not too much. Yeah,no doubt. It's all about the

(01:37:03):
right balance. And that's why you, Jake, have been doing this for
over two decades, helping people getinto and through retirement. You started during
the dot bomb era and you've beenable to learn from two o three eight
twenty twenty. You have a lotof knowledge and wealth behind you, and

(01:37:24):
you really do enjoy helping people getinto retirement and live those retirement dreams.
My teeth had been cut well,so some scar tissue here, but you
know, a teeth have big cutwell and those that was the toughest time
for I mean, it was sucha great experience because there was so much
volatility early on, right you know, my first couple years in the industry,

(01:37:45):
and I can tell you right now, I mean you learn a lot
in an environment like that, andit teaches you to be patient. It
gives you the experience, and youknow, that's really a big part of
what we bring to the table isexperience, patience and the understanding of how
these markets work in the trends,and making sure that we're creating that opportunity
upfront right so that we can ifthese things take place over the next thirty

(01:38:11):
years, which they will, youknow, wob up ups and downs and
flat markets, that we're prepared.We want to make sure that our clients
are prepared and comfortable. So giveouts a call. Let's sit down,
Let's let's you and I have thatopen dialogue conversation. Let's perform that discovery
on what you currently have. Letme show you how we implement our three
bucket system with an emphasis of thatpaycheck bugget. You have to have a
paycheck in retirement. It's imperative thatyou have that paycheck and retirement to have

(01:38:35):
the confidence to live free. Givemy alpso call the numbers eight five five
three one eight eight three eight sevenagain eight five five three one eight eight
three eight seven, or you canlook us up online at Masswealth radio dot
com. This is mass Wealth radiofirm offers insurance services. We are an

(01:39:01):
independent financial services firm helping individuals createretirement strategies using a variety of insurance products
to customs suit their needs and objectives. Any references to protection benefits or steady
and reliable income streams on this radioshow refer only to fixed insurance products.
They do not refer in any wayto securities or investment advisory products. Annuity
guarantees are backed by the financial strengthand claims painability of the issuing insurance company.

(01:39:25):
Annuities are insurance products that may besubject to fees, surrender charges,
and holding periods which vary by insurancecompany. Annuities are not FDIC insured.
The information and opinions contained in thisradio show are provided by third parties and
have been obtained from sources believed tobe reliable, but accuracy and completeness cannot
be guaranteed. They are given forinformational purposes only and are not a solicitation
to buy or sell any of theproducts mentioned. This information is not intended

(01:39:48):
to be used as the sole basisfor financial decisions, nor should it be
construed as advice designed to meet theparticular needs of an individual's situation, this
radio show is a paid placement