Road to Retirement 05-06-2023

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Episode Transcript

(00:00):
Information provided is for illustrated purposes onlyand does not constitute investment, tax,
or legal advice. Information has beenobtained from sources that are deemed to be
reliable, but their accuracy and completenesscannot be guaranteed. Neither Trip Limehouse nor
his guests are liable for the usageof information discussed. Always consultable the qualified
investment, legal, or tax professionalbefore taking any action. Hey, welcome
on everyone in the Road to Retirementwith Trip Limehouse. That's the show.

(00:23):
I'm consumer advocate. Steve said,Oh, we've got a big show today.
We're going to talk about well,you know, we all hear cash
is king, Well, in retirement, it's cash flow is king. We're
gonna dig into some cash flow inretirement, give you some suggestions on maybe
how you can improve yours and behavioralfinance. I'll tell you what. That's
an area that I am fascinated by. We've got some great information about that

(00:45):
and so much more coming up ontoday's show with Trip Limehouse. Trip what
an't you're thinking? Good morning intoeverybody out there. I'll tell you what.
We're rocking it out today. Cashis king? Or is it in
cash flow translation? Income folks,it's the number one thing you need during
retirement to maintain control, to besafe and be successful. Full We're going

(01:07):
to get into that, and alsowe are going to talk about a little
bit of the emotional side of allof the decision making that has to go
on for retirement. Do you wantto avoid taking a wrong turn or your
retirement road? The road to retirementis a long one, and if you
just don't want to make rock wells, buckle up. We're getting ready to

(01:29):
take a retirement road trip together.It's the Road to retirement with Trip Limehouse.
It's the perfect time mound to mapit out. That road to retirement
is key, is key to geton the road to financial security and independence.
Just like many of Trips Happy clientsand retirement partners, my money is
safe using the green line principle thatyou taught me about. Thank you so

(01:52):
much. Let's get this trip started. It's the road to retirement with Trip
Limehouse. Hey, welcome to everybody. This says the road to retirement with
Trip Limehouse. I'm consumer advocate Steveso off Trip. Of course, I'm
helping folks for more than twenty yearsgetting to and through retirement. Trip you
will find him at Limehouse Financial.That's Limehouse Financial dot com. And of

(02:16):
course, after more than twenty years, he's created a couple of strategies that
really help folks. The main onethat we talk about is the green line
principle. Something important. If you'renot aware of that, you need to
be aware of it, and wewill dig into it. Right now though,
I'm just gonna say, hey,Trip, what's going on? Yeah,
yeah, Hey. Another place peoplecan find me is out on the
lake because I tell you what,it's been nice lately. Anybody else out

(02:39):
there cruising around on Lake Murray ifyou are, let me know, watch
out for the Limehouse Financial vessel cruisingaround out there. Again, just to
let everybody know, as we alwaysdo, this is not your average ordinary
retirement income planning, finance show,etc. We get real with you.
And by the way, Steve,you and I were talking about some compliments

(03:00):
we received recently on the show.We had a Jack call in and he
said this show that you did whereyou were doing the movie clips was hilarious
and like made my day. Welove to do that and also sharing stories
with you guys out there is reallyimportant. Again, I am tripped Limehouse
with Limehouse Financial and this is theRoad to Retirement show. I gotta let

(03:23):
you guys know you can watch uson TV on Saturday morning at six thirty
am, bright and early on Channelten in Columbia. Check us out there
and limehouse Financial dot com eight hundredand nine four zero six nine seven nine.
So we talked about a introduction thecash king and cash flow. Yes,

(03:45):
like, how would you, inyour words, say, you know,
this is cash king or this iscash flow? Why would you describe
it? I mean, you know, when we're working, we get a
paycheck. That's our cash flow,and we need to you know, we
need to know what's coming in sowe can pay what needs to go out.
When you say in retirement, you'vegot to create your own cash flow,
that money still needs to keep comingin because guess what, the bills

(04:08):
still need to be paid. That'sright. I mean, the bills always
have to be paid. I likethe way that you break that down.
So you mentioned two things. Whenyou're working, that was the first thing
you mentioned, and the second thingyou mentioned is when you're not working when
you're retired, right, And wewere talking about the cash flow and cash
is king. So even for folkswho do exit on the rotor ternment journey

(04:31):
and they have no debt, noobligations to anyone. Okay, they own
everything outright and they have assets.They still need income because there are things
that don't end a utility bill,groceries, gas, et, clothing,
I mean whatever. Right, Soeverybody forever is going to need cash flow.

(04:55):
Okay. Now in our world wetalk about like doing that for people
and it never ending. For instance, recently we met with a couple.
Jonathan O'Reilly, my investment advisor,and I met with a couple and one
of them had retired with a pension, and one of them had retired with

(05:16):
a very large four oh one k. They just weren't quite sure which option
to elect for the pension and whatto do and where to roll over the
four one k. They knew theyneeded to do something, and what they
concluded on their own eye. Iwas so proud of them is that they
needed to figure out a way tonever outlive their income. Right, Yes,

(05:39):
so we had that guaranteed income forlife. Conversation. Now, when
we build financial plans for you guysout there, which, by the way,
that's what we do here at LimehouseFinancial and if you'd like one,
call us eight hundred and nine fourzero six nine seven nine. When we
build financial plans for you guys outthere, we include obviously this cash flow

(06:00):
that we're talking about, or income, and folks, I'll say it again,
I say it all the time,don't forget it. It's very important.
Your income during retirement determines your outcomeduring retirement. So we have to
make sure that you know there's thispart of it that we know what it's
going to be, otherwise known asyour cash flow. Now cash being king,

(06:23):
you hear that a lot these days, in particular, I think Steve,
because of volatility in the market.I mean, there's a lot of
people that we see that just havecash sitting there right now. Not literally,
well some literally, I mean theytell us, you know, we
don't actually see it, but youknow, we see the statements and this
and that, but it's just money'sparked. Do you know what I mean

(06:45):
When I'm talking about park by parked, not parking the car, parking the
money, right, the money exactlybecause they're at a point where they think
that the best thing to do isjust to do that because of what's happening
in the world and the market.Maybe there's a whole lot of different factors
that are in there. Right.Well, at times that is a very
good thing to do, and attimes it's not the best thing to do.
So we help people really examine that, Steve, to determine how much

(07:10):
they should have in cash so thatthey could just go buy a second home,
or help a child out, oryou know, buy an RV.
I mean, you know, that'sthe fun we have when we're helping people
plan like that couple I was justmentioning. Okay, So we are cultivating
for them and for others out thereon an ongoing basis, plans that involve

(07:31):
having both cash as king and alsohaving cash flow. Okay, so two
very important things you guys have tobe aware of that we need to continue
talking about and we're going to dojust that. So you know, sources
of the income during a retirement,they vary, right, Steve, I
mean they can be different for everyperson. Well, solsal security of course
comes to mind. That's one thateverybody gets. Oh my gosh. Absolutely.

(07:56):
And of course you know a questionI ask everybody is who's who's paid
into this? And the answer isI have we have. You know,
what I share with people is sinceyou have paid into it and it's your
money. Folks, listen closely.Since you have paid into it and it's
your money. We're talking about socialsecurity. Isn't it imperative that you make

(08:20):
sure you're taking it at the righttime, meaning filing for your benefit at
the right time. Doesn't that justmake the most sense. Imagine knowing for
sure that you are choosing the bestway to take your social security, the
best time to take it. Well, you're in the right place. This
is awesome. I love those greatnews. I love this for you because

(08:41):
here at Limehouse Financial, that's whatwe do. We are income and distribution
planning experts and social security experts.We tied all together for you. We
talk about that cash king, wetalk about that cash flow, and part
of that income that you can outliveis social security. But everybody needs a
social Security roadmap. That's a documentthat clearly defines the best time for you

(09:05):
to file for your benefit based uponyour overall goals, objectives and current financial
scenario. If you will so askus for the social Security roadmap, will
provide it for you. Now,this has been fun we're going to continue
it, but here's the offer rightnow. You know, if you're wondering
whether you should be parking your moneyand having cash this king, or whether

(09:28):
you should be focusing on the cashflow, or if you're wondering how to
do both to make sure you're successful, independent, and in control of your
retirement, I want you to callme right now and say, hey,
Trip, I heard you talking aboutcash flow and cash is king, and
I need a little help to getthere and make sure I'm doing it the
right way. Eight hundred nine fourzero six nine seven nine. That's the

(09:50):
called action. Folks, you areimportant enough that this is something you deserve
to have. Eight hundred nine fourzero six nine seven nine. You'll get
the comprehensive financial review the Trip justdescribed all the extras. There's no cost,
there's no obligation. Just make thatcall today. Eight hundred nine four
zero six nine seven nine. Eighthundred nine four zero six nine seven nine.

(10:11):
Quick break. We're coming back.We continue down the road to retirement
with Trip Limehouse right after this.Do you ever feel like you are fighting
for financial knowledge? Don't let badadvice be a punch in the gut to
eur retirement, take advantage of acomplimentary and no cost, no obligation consultation

(10:33):
with a local trusted financial coach calledTrip Limehouse at eight hundred and nine four
zero six nine seven nine or texttrip tripp to eight hundred and nine four
zero six nine seven nine. That'seight hundred and nine four zero six nine
seven nine or text trip to eighthundred and nine four zero six nine seven
nine. Folks, welcome back tothe Road to Retirement Show with Limehouse Financial.

(11:01):
I am Trip Limehouse and it's apleasure to be cruising down the road
with you today. So for someof you, we've been talking about maybe
exiting on the road to retirement journey, and for some of you, you
want a plan to exit soon.You're in the right place. We're going
to go back to cash is Kingand also cash flow, because these are
two things that are hot topics thatwe just need to continue to talk about,

(11:26):
and as mentioned in segment one,we are going to also start talking
about the emotional side, if youwill, on the psychology side of what
you're going to be doing, howyou should be doing it, and that
maybe some great ways to improve uponwhere you already are. What do you
think, Steve, I think that'sa great idea, great path to start

(11:48):
walking down. And of course,Trip is the guy behind the green Line
principle, twenty plus years helping folksgetting too and through and I'm talking about
two and through retirement. So wetalked about income sources and those income sources
have to cover the expenses that wehave in retirements. So it's very important
for us to then have a budgetto understand where that money's coming from and

(12:09):
where it's going. You got theB word already, boom right now the
back using the B word, ofolks, I dold you we're cruising down.
He with the RPMs are revin up. So the B word budget,
folks, it's not a friendly word, but then again it is a friendly
word, right, but we haveto have it, okay, And it
does coincide with another word, thesave word save. Listen. If you

(12:31):
want to have a successful P LA N. You need to save right
and write it. You gotta doit. But don't we help. If
you don't do that, then you'llbe saying cr ap or maybe even some
others out there. Yeah, that'sno doubt about it, folks. You're
listening to the Road to Retirement Showone eight hundred nine four zero six nine

(12:52):
seven nine. We encourage you tocall in and to ask us your questions
regarding planning and understanding better where you'regoing and how you can get there.
Okay, that's how we help you. Now, in all seriousness, we
do want to make sure you understandthe importance of you know, pondering,

(13:13):
if you will, what we're talkingabout today. Okay, Segment one was
cash king cash flow. There isa difference, by the way, if
you missed it, go back onApple, Who, Google, Spotify,
iHeartRadio dot com, just pull upthe Road to Retirement Show and you can
listen to that first segment or anyother others shows if you'd like. But
we got it into social Security alittle bit, which by the way,

(13:35):
for most people is accounting for athird or grader of their overall income in
retirement. Okay, we've moved nowinto talking about the expenses aren't going to
go away. That's why we needto continue to budget. And that ties
right in steve with something that myinvestment advisor, Jonathan O'Reilly really is passionate

(13:56):
it about and just love to helppeople understand, right and that's um,
you know, an investment strategy,right, I mean, you gotta that's
part of the cash flow, andalso that's part of the cash king,
right. Sure A lot of peopledon't even have an investment strategy, folks.
I mean I would ask yourself thatquestion right now, what is your

(14:18):
investment strategy and does it need tochange? Is it still appropriate for where
you are and what you're doing?And you know, I mean there are
a lot of things shaking out there, if you will, right that we
can't control. Yes, I mean, I don't even need to talk about
them, because they're evident. Justwe live in the same world, folks.
We know what's going on. Butrelative to you and where you're headed

(14:41):
and where you're going, you knowfrom this point forward that there's got to
be an investment strategy and it needsto be the right one. We need
to understand your risk tolerance. Youneed to understand your risk tolerance, and
I will share this with you.I mean, and this is kind of
great. Rob came in several weeksago and for a first appointment with us,

(15:03):
he was listening to us on theshow, made an appointment with us.
He'd be listening for a couple ofmonths. So Rob came in and
he really thought he was on theright path, and he had heard me
mention and I'll offer this right now. He had heard me mention this second
opinion offer. Okay, So ifanybody out there wants a second opinion on
your investment strategy, call me rightnow one eight hundred nine four zero six

(15:26):
nine seven nine and asked me forthat investment strategy. Second opinion will provide
it for you. But we wentover with Rob and we did a report,
non biased. We call it theportfolio observation Report for Rob. So
I found out that he had donepretty well compared to a similar portfolio,
and also, you know, hisexpenses weren't that bad. But what we

(15:50):
did find was he was overweighted ina particular sector. And if you don't
know what a sector is, folks, it's like healthcare, energy, finance,
etc. He was overweighted in,you know, the technology sector.
So what happened, Uh, youknow, there's been a lot with tech
stocks this year, Steve, You'veseen it, and I've seen everybody's seen
it. Right, not necessarily doingthat well. So we pointed that out

(16:11):
to him and as a result ofthat, He looked at us and he
said those four words, all right, and he said, I can do
that. So I love this.I mean, so Rob's a cross table
from us, and we're talking aboutthe second opinion on his investment strategy and
we've found positives to it. Butthen we mentioned, hey, here's some

(16:34):
maybe areas for improvement, and thenhe said I can do that. We
said, yes, here he can, and he said, what do we
need to do to implement the plan? Which, by the way, folks,
that's something everyone, everyone who's listeningdeserves. You need it. It's
the four letter word, the PLAin the plan. You got to have
the plan, folks, because theplan is what gets you through, right

(16:56):
And by the way, some ofyou have an account, you think it's
a plan. I just want totell you that's probably not accurate, because
an account is just a place wheremoney is located. But a plan is
actually, you know, going toget you where you want to go,
keep you there and allow you tomaintain independence and control. And if if,
if I'm right, most people arelike me in that manner. They

(17:18):
would like to be independent and incontrol, you know. So we got
a plan for this longevity thing toSteve, we talk about people running out
of money. I don't. Idon't really like that idea of anybody running
out of money. No, No, that's a scary part of it.
And that I mean one of thethings that you do, I mean is
the green line principle. Trip.I mean, that's one way that you
can help us make sure we don'trun out of money. And that's something

(17:41):
that's unique to you. Thank youfor always talking about it, Steve,
and folks pay close attention right now. The green line principle. This is
a safe money strategy where you cannotlose any of what you put into this
part of the plan. You havea lot of upside potential. Mean,
you can earn interest which you wouldnever lose, and then also you can
create this personal pension plan have incomefor the rest of your life guaranteed,

(18:06):
which is what we're talking about,and that, quite frankly, is the
only way you're ever going to avoidlongevity risk, which is the risk of
running out of money. Nobody Ihave ever met in my entire life has
ever said I want to run outof money? Are you kidding me?
You have to have it. Welive in an economic world, so you
know, for you listening right now. That may be a big thing.

(18:27):
You may have never examined your longevityrisk factor. That's the offer right now
for the next ten people. Callin eight hundred and nine four zero six
nine seven nine and ask me forthe longevity risk factor plan. I'm gonna
let you know how long your moneywill last. Exactly that way, you
will never run out of it.Well love a trip eight hundred nine four

(18:49):
zero six nine seven nine. Eighthundred nine four zero six nine seven nine.
It's the comprehensive financial review trip justdescribed. Remember there's no cost,
there's no obligation. Just take advanceof a take that second opinion. Eight
hundred nine four zero sixty nine seventynine eight hundred nine four zero six nine
seven nine A quick break. We'regoing to come back and continue our trip
on the road to retirement with TripLimehouse. Getting the right retirement strategy suited

(19:18):
to your unique needs and desires iscalled hitting the bull's eye. You can
say I nailed it. You actuallyshould say we nailed it because there's a
firm right there with you putting togetherthe pieces of your own retirement puzzle.
It's a bull's eye plan for youcalled Trip Limehouse, host of Road to
Retirement eight hundred nine four zero sixnine seventy nine, or text Trip tripp

(19:41):
to eight hundred nine four zero sixnine seven nine. We've made it easy
for you to take advantage of thisfantastic offer. All you have to do
is call or text Trip to eighthundred nine four zero six nine seven nine.
Hurricanes, tornadoes and fire, theseare serious situations we plan in a
dance four. The volatility of themarket can be just as devastating When a

(20:03):
market correction does occur. There arestrategies you can employ to balance back.
Called Trip Limehouse and his team atLimehouse Financial today at eight hundred nine four
zero sixty nine seventy nine, ortext the keyword Trip to eight hundred nine
four zero sixty nine seventy nine.We've made it easy, folks. All
you have to do is call ortext the keyword Trip to eight hundred nine

(20:27):
four zero six nine seven nine.Welcome back to the Road to Retirement Show
with Limehouse Financial. Folks. Idon't know if you call the first two
segments, but we got into alot of good stuff and we're going to
continue home with it right now.I'm going to talk a little bit about
the psychology and behavior that can affectdecisions and outcomes for you as you move

(20:52):
through this journey we call the roadto retirement, whether you're already there or
getting ready to egg it soon.Uh, these are important things to learn
about here about talk about and mquite frankly, I'm excited to share this
with you because you know, whatI have obtained in over twenty plus years
of helping folks just like you,is a lot of this. Okay,

(21:15):
I've seen it, I've experienced it, and I can share that with you.
So let's get right into it.I mean, there's a lot of
things that make a person think aboutmoney, or maybe it affects how they
think about money. That's what I'veobserved Steve. How about you? Well,
I would agree, And so we'retalking about the really sort of what
makes us tick financially, which it'san important observation, and this is an

(21:40):
area of study, this behavioral financethat I think we can learn from.
I know the experts have sort ofbroken this all down, but again we've
we've got the takeaways for you,and I think it's it's interesting to understand.
I'll share this with you. Soone of the things that I have,
you know, obtained over all theyears is h O JT. You

(22:03):
remember that right on the job training, right, So you know, with
that comes a lot of me seeingthis these biases that are there, okay,
And because I understand that everybody isdifferent for different reasons and things,
maybe as we talked about help youknow, form or shape their thoughts on
this stuff, I've been really ableto help each individual cultivate a plan the

(22:27):
four letter word, the pla NDthat really works well for them, okay,
because sometimes these biases that they have, they're valid, okay, And
and I'm not one that's going totry to change it right as a matter
of fact, I just want tounderstand it more and then be able to
help that person that I'm sitting withat that point in time make the best

(22:51):
decisions that they can make so thatthey're successful during retirement. And that looks
different for every person depending on thebiases that they have or don't have.
Now, there are times when abias is nonfounded, and I will you
know, I won't challenge a person, but I will just say, you
know, what you just share withme is not accurate because if it's not

(23:14):
accurate, I'm going to need tosay, hey, as the expert that
is helping here, that is notaccurate and it's important that you understand it.
So, you know, retirement planning. You know, I say it
often, this is not just aboutthe money. Okay, folks, listen
up. This isn't just about themoney. This is about you as a
person. Okay. What do youbelieve in? What does convict you?

(23:38):
You know? What do you wantto accomplish? What kind of a legacy
do you want to leave behind?What do you want people to say about
you? Currently? Right? Youknow, I mean all that stuff goes
into this thing we call the fourletter word, the pla in right.
And it's so invigorating me as ahuman to be able to help you cultivate

(24:03):
one of these four letter words,the plan that's yours and uh and but
but in particular when we talk aboutbiasing, uh, you know this or
that this is biased? You know? Um, I'm I'm thankful that I
can help. Um. Uh.We talk about it in the preview shows
Demith the five demystify what do wesay the myth? There's a myth about

(24:26):
this, right, We've talked yeah, yeah, Smith, you and I
have had a lot of fun withthat show. But some of these biases
are in fact nonfounded and some arefounded. Folks, we get it.
And the thing about us here atLimehouse Financial eight hundred nine four zero six
nine seventy nine. That's our number. You can find us on the web

(24:47):
at limehouse financial dot com. Iam trip a Limehouse. The thing about
us is we get it. Okay, we get you, and we're people.
We're people people, and we wantto help and uh quite frankly,
we're the where the best of thereever was. Okay, I mean that's
us. Okay, Limehouse Financial iswho you want to work with because and
the reason I can say that isbecause we are seeing people who are telling

(25:10):
us that We are seeing people whoare telling us that they've been to three
or four other broker, plant advisor'sagents, whatever, and they're not getting
from those other folks what they're gettingfrom us. So that indicates to me
that the most most important thing thatthey want they're obtaining by working collectively with
Limehouse Financial eight hundred and nine fourzero six nine seventy nine. That brings

(25:32):
me up to a little bit moreof the behavioral finance and you know psychology
behind all this stuff, and thatwould be framing and perception. That comes
two words that come to mind here. You know, how does a person
perceive this? Right Steve? Yeah, well exactly, And again I think
the way that we perceive it caninfluence what we do and how we do,

(25:53):
how we do it, and howwe accomplish that. So I think
that's I mean, you know,that's where you can really come in and
be a big support for that.In other words, perhaps reframing those perceptions
that may not be right and whatI would call that right there, reframing
the perception is I am able toshare with those that come to visit us.

(26:15):
By the way, folks, wewelcome you. We welcome you here
at Limehouse Financial. Okay, nocost, no obligation. Appointment eight hundred
nine four zero six, nine seventynine. If you want to get serious
and know that you're going to bein control and you're going to be independent
during retirement. If you want tomake sure you're doing going in the right

(26:36):
direction and avoid wrong terms that leadto dead ends, just call me eight
hundred nine four zero six nine seventynine. Ask me to get on my
calendar and we'll make it happen,okay, and help you with this stuff.
What I talk about changing, uh, you know, perceptions for folks.
See as I was sharing, Ithink about storytelling experiences of people who

(26:57):
have been here at Limehouse Financial.Maybe it's a current client, Maybe it's
somebody that came in and didn't becomea client. Maybe it's somebody that came
in, didn't become a client,but then later became a client. Right,
I mean, there's just so muchthat we can share with folks out
there, and quite frankly, quitefrankly, I'm confident that this is refreshing

(27:18):
for the consumer. The reason Isay that is because people are tired of
going to a place and talking aboutintimate topics such as their money and not
being heard. They're tired of onlyhearing from and they're tired of, you
know, not understanding how it's allgoing to work from this point forward.

(27:40):
So good news here, folks,you are one hundred percent in the right
place because at Limehouse Financial, youknow, I mean, we function from
that fiducier capacity. We keep thesethings real for you and present them only
in your best interest, and wedo it by building you the four our
word, the PLA n Hey.On Thursday May the eleventh, I'm going

(28:03):
to be at the library in Lexingtonfor a live event. Six pm is
the time, Social Security and Incomplainingworkshop, No cost, no obligation.
That's Thursday the eleventh, six pmat the Lexington County Main Library. Come
see me and we'll have a greattime talking even more about all of these
very important topics that we go throughon the Road to Retirement show eight hundred

(28:27):
and nine four zero six nine sevennine. You heard Trip give us a
call right now eight hundred nine fourzero sixty nine seventy nine eight hundred nine
four zero six nine seven nine.Take advantage of this opportunity to day to
sit down and get a financial roadmapput together. We are going to take
another break, but we have gottenmore on the Road to retirement with Trip
Linehouse. It happens right after thislook is such a blow to ast it

(28:56):
right now. Break. It takescourage to face up to things like volatile
markets and Wall Street money traps.If you're unsure, worried, or losing
sleep about your money, do somethingabout it. Called Trip Limehouse, host
of Road to Retirement eight hundred ninefour zero six nine seven nine or text
Trip Tripp to eight hundred nine fourzero to six nine seven nine. We've

(29:19):
made it easy for you to takeadvantage of this fantastic offer. All you
have to do is call or textTrip to eight hundred nine four zero six
nine seven nine. Welcome back,everybody. This is the road to retirement
with Trip Limehouse. I'm consumer.I have to get Steve said, Oh,
we are crews no longer today havinga great ride as usual with Trip
behind the wheel guiding us, gettingus there, helping us along the way.

(29:44):
So yeah, I think you know, we talk a lot about income.
Well today we've talked a lot aboutincome. We talked about cash flow,
and again, people can inadvertently overspend. It's very easy to do and
I think all of us have probablyfallen victim to at some point um.
But as we get into retirement,it's very important to keep track of those
dollars because we, as you justsaid, Trip, we don't want to

(30:07):
run out. And one of thethings that we do early in retirement is
maybe you have a tendency to overspend. What do you think, Well,
I would say that for the generalpopulation, the answer that has Yeah,
I agree with that. It's becauseit's like, um, it's like a
big celebration. You're like, heck, yeah, man, I'm here and
and you know, like, forinstance, UM, I'm thinking of some

(30:33):
clients we Jonathan and I brought onuh last year, Done and Pam and
these guys were man, they actuallythey had been retired for about seven months
okay, and they had relocated herefrom the northeast. Uh. They're awesome
position there that they were in.Um. But they bought a home down

(30:55):
here, pay cash for it.They were able to do that because they
sold it a great you know priceup in the northeast here. But this
so prior to becoming clients, they'realready retired about six seven month period.
They had done some of this inadvertentlyoverspent and so uh, you know,
they heard me right here on theVoice of Columbia Don's Big you know,

(31:19):
a talk show, you know guyalways listening and so called in made an
appointment. By the way, folks, if you'd like to make an appointment,
our number is eight hundred nine fourzero six nine seven nine. I
am trip Limehouse with the Road toRetirement Show, inviting you to come see
me at my office, no cost, no obligation. I'll help you with

(31:41):
the four letter word, the PLAN. But so Don and Pam had
inadvertently been overspending, and uh,it just became evident to them because they
were watching their cash just like steadily. No, I wouldn't say a road,
but decrease. I will give itto them. They did do some
things they had always talked about doing, and they were kind of having fun,

(32:02):
which we encourage. And by theway, we encourage our clients to
spend their money. We just wantto make sure they never run out of
it, right, But they heardus talk about the four letter word,
the PLA N, in particular thegreen line principle. That's that safe money
strategy. We're very proud of trademarkwith the USPTO Green Line principle. Safe

(32:23):
money strategy can't go backwards, onlyupwards. Lots of upside potential and uh,
you know everybody needs to be lookingat that right now. By the
way, if you haven't heard ofit, you need to be paying close
attention when I mentioned the green line, because it really puts you in control.
Imagine this, It puts you incontrol of your retirement and it allows

(32:45):
you to be confident of your success, something that I know we all want,
but so anyway, but Steve,it was great because for Don and
Pam, you know, they theywe rained in if you will, that
you know tendency that was happening withthem. We reigned in the overspending.
The way we did it is wedid go through the four letter word.
Excuse me, this is more thanthe four letters. We did go through

(33:07):
the the budget with them and theB word there. It was much needed
in depth. Took a little bitback and forth, but we did it
and we built it into their planand we said, hey, guys,
here's here's what you need, here'swhat you can have. Because they had
a nice income goal for to dothe things that they wanted to do,

(33:29):
right, they wanted to have somediscretionary income, and we helped them understand
what discretionary income is. You know, that's the difference between what you have
to have and what you what youwould like to have. Right, So
we did that and it solved theproblem for them. And because this is
problematic, it really is, isinadvertently spending too much of your retirement dollars,

(33:53):
whether it's right away, um,during the first, you know,
bit of retirement or whether it's overretirement. Okay, so, um,
we want to help you avoid thatmistake, guys. Um, So eight
hundred and nine four zero six nineseventy nine is the number to call in
right now if you want to justmake sure that you're independent and you don't

(34:15):
invertially overspend what you have worked sodiligently for over all of these years.
So Um, you know, aswe're kind of processing these things, Steve,
I'm thinking about I'm thinking about myclient, and you know, it
makes me a little bit sad.I mean, it's reality. It happens,

(34:36):
you know, but it but butbut I've experienced it yet again in
my twenty plus years of doing this, and and it wasn't really pleasant and
and and that was that healthcare costbecame overlooked. They became overlooked. Well
that I mean again, with healthcareinflation being what it is, it's kind

(34:57):
of hard to overlook that. It'sI mean, it can come UNTI slap
you in the face and you don'teven realize it. Well, well,
in particular, I just want toclarify, you know, this was,
to the best of my ability withevery person that we ever meet with,
I will make the recommendation that Iknow is in their best interest. So

(35:22):
I had had this conversation with thisclient about healthcare and I had made a
recommendation. The client chose to notfollow the recommendation. And that's okay,
I get it. He was stilla client. Is still a client.
You know, nothing changed. Hejust said I don't want I don't want
to do that, and okay,fine, my job is just to make

(35:45):
the recommendation. You can do withwhat you'd like. Well, he didn't
follow the recommendation. It was relatedto healthcare costs, and ultimately it ended
up costing him about ninety thousand dollarsout of pocket and he could have completely
avoid So folks, don't be likethat. I mean, let's get together
and let's make sure that we're includinghealthcare costs. We don't want that just

(36:07):
to be a pop up thunderstorm onyour road to retirement journey and you not
have windshow wipers that are working correctly. They want to avoid that. So
let's optimize social security. I mean, we've talked about social security already today
trip, but it isn't important,if not the most important decision. A
couple in particular, will make goinginto retirement well, I say, it's

(36:28):
a life changing decision, and itcould be for the most part, for
the better, but it also couldbe not a good life changing decision.
And that could be for anyone outthere that's not aware that you can maximize
social security. I mean, I'llsay to the end, you can maximize
social security. But the importance isthat you need to recognize where you are

(36:52):
in your journey and the fact thatwhere you're going in your journey requires expertise
to get there and stay there.And as a social security planning expert,
as an income and a distribution planningexpert, that's again what I'm doing for
you. Okay, the social securityroadmap everyone needs. It used to be
an easy decision, you know,less complicated people. That's because income sources

(37:16):
are different. You know, thisisn't your parents retirement. I say it
often. You know people are notthat today, not typically retiring from one
job for forty years having a pensionin social security, right, you got
to make sure that you're going tomaximize your social security benefit. Now,

(37:36):
the way that you do that isjust by asking me for the social security
report. Okay, I'll give itto you, no charge, no obligation,
and it will define exactly the besttime for you to file for your
Social Security benefit. But you gotto do it the right way because if
you do file for it and wefind out it wasn't the way for you

(37:58):
to get the most out of it, if it's been longer than twelve months,
then you can't change It is irreversible. So there are some things that
can never be changed, and folks, that is one of them. That's
why I share with everyone. Youneed a social security roadmap. So we
want to optimize social security. Okay, things we've mentioned so far in this

(38:20):
segment. We want to avoid overspendingif we can right. We want to
have the four letter word, thePLA N, so we know what we
can do and have boundaries. Wedo not want to aid nor healthcare costs,
and we want to make sure we'regetting the most out of social security.
Limehouse Financial dot Com is where youfind us on the web. I
think I may have mentioned it,but I'm going to do it again.

(38:42):
Or if I didn't, here yougo. Thursday, May the eleventh,
We're having a live event. Itis a social security and income planning workshop.
It's going to be located at theLexington County Main Library on Augusta Road
at six pm. Again, it'sa no cost, no obligation event,
educational workshop. That's the only reasonthe library allows us to continuously do these

(39:05):
events, which, by the way, Steve, I don't know if you
know this, but we're coming upon, let's see, almost ten ten
years of doing events at the libraryin Lexington. So we love that library
is great place to be and they'veyou know, I remember when I first
started doing events over there. Wewould do events in the kid's room upstairs,

(39:28):
and so I like these kids drawingsall over and you know, there'd
be little tiny chairs this and that, little yeah, little little teent so
and that was great because when theroom got overpacked, you know, like
you know, I'd have sixty fivepeople show up, they had to sit
in a little teeny tiny chairs.Yeah, that's hilarious. That absolutely never

(39:49):
happened. But anyway, we aregoing back to what I was telling you.
On Thursday, May the eleventh,six pm, Lexon County Main Library
a Social Security income Planning workshop sixpm. We'd love to have you there,
folks. Eight hundred nine four zerosix nine seven nine is our number.
Let me know if you would liketo attend and check our check our
website out limehouse financial dot com.We do post future events on that as

(40:15):
well. And sometimes we're doing theselittle breakfasts. So we had a great
breakfast recently, good crowd of peoplethere. Sometimes we're doing lunches and dinner.
So make sure you're checking out limehousefinancial dot com for upcoming events.
Okay, so, um, yeah, I mean all this stuff to think
about, right, The list reallygoes on and on quite frankly, Steve,

(40:36):
I think, I mean I wantto just compliment our efforts collectively to
you know, get through this materialas best as we can on air,
for our for our audience, anduh so, you know, compliments to
the chef for what's happening here onthe Road to Retirement show. That'd be

(41:00):
you and just you and me,just you and uh said a song,
all right, that's a just youand I sharing our love together. Don't
get Amy. Amy gets concerned sometimesabout me potentially singing on the air.
Steve. She's told me I'm notallowed to do it anymore. She's gonna
report me to her. You're goingto report well, sometimes I tell her,

(41:23):
you que up these songs and I'mlike, oh my gosh. You
know, we're just having a greattime. But um, you know,
listen, retirement is going to bea fulfilling and enjoyment phase of your life.
Folks. There's just things that youneed to be thinking about, talking
about and doing taking action regarding.And um you know what we were just

(41:44):
talking about the Social Security report.That's just simply one of them. I
you know, another one is notlooking at investment strategies. I mean,
having a continuous, ongoing investment strategythat doesn't really change. It's addict it's
more passive than active. You know, that really can be harmful for you

(42:06):
during your journey now where you arenow and in the future. So we
want to talk to Jonathan O'Reilly,our investment advisor here at Limehouse Financial.
You know, from a fiduciary capacity. That's what we do is only make
recommendations in the best interest of you, and so he really helps people look
at their current investment strategies, revisitthose, make sure that they're accurate,

(42:29):
up to date, and if there'sa way to improve upon them, to
let you know. So don't discountrevisiting investment strategies because again, we do
want that retirement to be fulfilling andenjoyable for you. We want to avoid
things that we need to avoid.We want to implement things that need to
be implemented. And that makes methink of avoiding things. You know,

(42:52):
there's an unnecessary fee. A lotof people Steve have this mentality that their
portfolio is inexpensive. We see itall the time. We'll look at a
statement and we'll evaluate, you know, the holdings, the cost, the
performance, etc. And you know, we'll say, hey, you know,
were you aware that in addition tothe advisory fee there's an underlying costs

(43:15):
here of these funds and you knowthey're whatever percent, you know, three
quarters percent whatever. And people arejust unaware of things like that. So
that's something to avoid. You know, we help you here at Limehouse Financial
avoid unnecessary fees, that's for sure. We really just get to know you
and have fun doing so. Wehave fun spending time together and we're just

(43:39):
comfortable. Come on in and seeus, so you can find out just
how comfortable it is working with anotherperson who you know is going to put
your best interest first, make properrecommendations that are yours and build you that
plan that you need and that youdeserve. The four letter word I always

(44:00):
talk about the PLA N, whichwhich really encompasses so much all of the
things that we've been talking about,never running out of money, making the
best decision for social security, managingtaxes efficiently. That's that tax efficient retirement
plan, you know, having thebest investment strategy, all of the things

(44:22):
that we talk about. Folks,give me a call right now and I'll
build you the four letter word,the PLA N that encompasses that and more.
Eight hundred nine four zero six nineseven nine. That's the number to
call, folks. You get acomprehensive financial review, as Chip just said,
no cost, no obligation. Justmake that call. Eight hundred and
nine four zero six nine seven nine. Eight hundred nine four zero six nine

(44:44):
seven nine. We've got to takeanother quick break, but we're coming back.
We've got one more segment to gohere on the road to retirement with
Trip Blind Hunt. You've worked allyour life, you've saved, you've followed
all the rules. Now it's timeto retire. Here's the question, who

(45:05):
do you want relaxing and taking iteasy your nestache or you well, of
course you want to relax and traveland enjoy and nestache, You've got more
work to do for a retirement thatmaximizes your portfolio, your social security,
avoids unnecessary risk, protects you frompitfalls and frankly lets you retire, and

(45:27):
keeps the nestake working. You needa retirement partner. You need someone looking
out for your best interests and buildinga plan for you based on your situation.
Called Trip Limehouse at eight hundred andnine four zero six nine seven nine,
or text trip Tripp to eight hundredand nine four zero six nine seven
nine. That's eight hundred nine fourzero six nine seven nine, or text

(45:51):
Trip to eight hundred and nine fourzero six nine seven nine. Folks,
you've got questions and we've got answers. Welcome back to the Road to Retirement
Show. We are glad to bewith you. Here we go. Let's
get right into those listener questions.You got a trip. Of course Trip
is here for you. He's aphone call away at eight hundred nine four

(46:13):
zero six nine seven nine. Andall right, say as you said,
Trip, let's just jump right inLartius up first he's checking in from Casey.
He says, do loan repayments counttowards contribution amounts in four old one
K calculations? Already? That isa great question, and we help a
lot of people with four old oneK plans here at Limehouse Financial. The

(46:37):
answer would be no, so yourcontribution would be segregated from any loan repayment.
Okay, And by the way,you want to make sure that prior
to terminating employment, retiring or terminatingor getting a new job, whatever,
that you do repay that because ifnot, it will be construed all his

(46:59):
time actable income, and you don'twant to be caught off guard by that.
Now. I think a good questiontoo already, since you brought up
four one ks, is that peopleare asking us here at Limehouse Financial is
what should I do with my fourold one K? So I want to
just real quickly address that question forour listening audience today. Folks, if

(47:19):
you have a four one K andyou are fifty nine and a half or
older, pay close attention. Ifyou have a four oh one K and
you are fifty nine and a halfor older, pay close attention. There
is no reason that I can thinkof I don't know, maybe there's one
or two, but they just reallywouldn't apply to a lot of people.
Okay, but there's no reason toreally lead that four one K where it

(47:43):
is currently, because what you cando is moved from having an account,
which is simply what a four oneK is. It's a place where money
is that's otherwise known as an account. You can move it over into the
plan, your plan, which Ican help build customized for you, okay,
to accomplish your goals over your timeperiod, and you'll be better off

(48:05):
for doing so because you'll have moreinvestment options, less cost and guarantees.
Those are all important things. Soif you're fifty nine and a half are
older, and you have a fourone K and you're wondering can you do
something? Should you do something withit? Yes, you just roll it
over into an IRA that we helpyou open up here at Limehouse Financial and
it's a nontaxable event, folks.And then you are currently having a plan

(48:30):
now, just so you know,the four one K still stays with your
job, Okay, it just hasless money in it. You can still
contribute to it and get the match. So ask me about the four o
one k in service withdrawal and howyou can turn your account into a plan
already great question. Thanks for askingabout that long repayment and for being a

(48:52):
listener of the Road to Retirement show. Yep again you're the great explanation there
trip already again it's eight hundred ninefour zero six nine seven nine. Gerald
has a question from Leesville. Hesays, my wife's father passed and she
was left quite a bit of stock. All of the stock is in a
single company that's a standard bearer.We don't need access to the funds and

(49:15):
plan to leave the principle to grow. Is there a better way to grow
the money right now as opposed toleaving it all in stock? Hey Gerald,
Hey Gerald, great to have youon the Road to Retirement show.
You know, um, so we'retalking about an inherited stock. Typically we're
gonna get a step up in basis. So, um, you know your

(49:37):
wife who inherited that stock. Youknow, when she inherited that amount,
it became her whatever it was wasat that point her basis. So.
Um, what you just want tobe careful of is if your goal is
to pass that Stockholm maybe to yourchildren or grandchildren or whatever. You know,

(49:57):
this potential, the potential is outthere for the i RS to eliminate
a step up of gain and thatcould cause some long term capital gains problems
for the next people or even foryou along the way. So you need
to be aware of the taxation behind. Uh. You know what you're talking
about holding onto uh, you know, one equity and a lot of it.

(50:22):
Uh And hopefully it will get somegreat appreciation in there, but it
just needs to still be managed properlyalong the way. Okay, And I
know your question was is there abetter way to grow the money right now
as opposed to leaving it all instock? Potentially? You know, it
really is going to depend on youknow, where you guys are, how
much liquidity do you have? Doyou have? Do you and your wife

(50:45):
have guaranteed? Didn't come for life? You know, there's so much to
go into that, so I can'tgive you an exact answer, But also
I do want you to make youaware of that if you're concentrated all in
one position, your risk does goup. So if it's all on the
one stock, you know that ispretty risky, but maybe it's a great

(51:07):
buy and hold for a long time. Strategy. So hey, come on
in and see me. Let's gettogether for no cost, no obligation,
appointment. I'll offer that to anyonelistening right now. Eight hundred nine four
zero six nine seven nine. Gerald, great question. I'll see you when
you get here and we'll map itout for you. Eight hundred and nine
four zero six nine seven nine.Let's see. Can we do one more

(51:29):
quick? Let's see. We'll goto Lacy in West Columbia. Lacy says,
retiring in about a month at theage of sixty two. I have
a small pension. After twenty twoyears of employment, they moved us all
into a portable pension. I wasgrandfathered into the original pension plan. So
in addition to that pension, Iwas offered lump some of which I could

(51:50):
roll into an IRA, or Icould get monthly installments for life. What's
my best play here? Well,some or monthly installed. I love it.
I love it. Lacy, thanksfor listening to the Road Retirement Show.
What you need is the Pension BenefitAnalysis, the PBA. I'll do
it for you and for anybody elselistening right now. That's where we help
you understand the best decision regarding apension, whether it's to take it in

(52:15):
a lump psalm and roll it intoan IRA, or whether it's to take
the income as being offered. That'sthe pension benefit analysis, so I can't
enter it that exactly for you.Again, it's there's gonna be a lot
of factors that go into that,Lacy, but I can offer you the
analysis. After completing the analysis,we can make the proper recommendation. Folks,

(52:37):
thank you for tuning into another greatepisode of The Road Retirement Show.
Thursday, May the eleventh, We'rehaving a live event at the Lexington County
Main Library six pm Thursday May theeleventh, a social security and income planning
workshop. Come on out to seeus at that event. We'd love to
have you there. Eight hundred andnine four zero six nine seven nine is

(52:58):
our number. Find us on theat limehouse financial dot com. It's always
fun to be with you. Wereally appreciate you tuning into the Road to
Retirement Show and make sure you're watchingus on TV on Saturday mornings at six
thirty am on Channel ten. Thatsounds great. Trip eight one hundred and
nine four zero six nine seven nine. I'll comprehensive financial review that's what we're
talking about here, no cost,no obligation. As we wrap it up

(53:22):
here, make that call right nowwhile you're thinking of an eight hundred nine
four zero six nine seven nine.Well, Trip has always a pleasure to
be here and love having our conversations. All right, folks, Tune in
next week for another great episode ofthe Road to Retirement Show, and until
then, God bless you. Informationprovided is for illustrated purposes only and does

(53:43):
not constitute investment, tax, orlegal advice. Information has been obtained from
sources that are deemed to be reliable, but their accuracy and completeness cannot be
guaranteed. Either Trip Limehouse nor hisguests are liable for the usage of information
discussed. Always consultable the qualified investment, legal, or tax professional before taking
any action.