Road to Retirement 05-10-2025

Episode Transcript

Speaker 1 (00:00):
Mutual funds used to be a beautiful concept. Any investor
could invest and gain access to professional portfolio management. Times
have changed. Maybe your investment habits should too. Whether you're retired,
approaching retirement, or haven't even thought about it, now is
the time to get protection from market volatility and excessive

(00:20):
fee structure called Trip Limehouse with Limehouse Financial at eight
hundred nine four zero six nine seven nine, or text
Trip that's tripp to eight hundred nine four zero six
nine seven nine. Again, you can call or text Trip
at eight hundred nine four zero six y nine seven nine.

Speaker 2 (00:43):
Information provided is for illustrated purposes only and does not
constitute investment, tax or legal advice. Information has been obtained
from sources that are deemed to be reliable, but their
accuracy and completeness cannot be guaranteed. Neither Trip Limehouse nor
his guests are liable for the usage of information discussed.
Always consultable the qualified investment, legal or tax professional before
taking any action.

Speaker 3 (01:02):
Hey, welcome in everybody. This is the road to retirement
with Trip line House. My name is Steve Soon. Oh.
So here's the thing. As you get older, life is
gonna toss you some curve balls right, that's just how
it goes. But if you're smart and make a retirement
plan that can bend a little and you keep an
eye on it, you'll be way better equipped to handle
whatever comes your way. Basically, don't just set it and

(01:23):
forget it. Trip is here to remind us to not
do that. Instead, you'll give us some things we should
be doing. Trip. What's going on?

Speaker 4 (01:31):
Good morning, Steve, and good morning to everybody out there
in radio land. Good to be with you. Yes, we've
got another great episode of the Road to Retirement show
this morning. We are talking about the importance of monitoring
your retirement as you move forward in retirement. Just can't
set it and forget it. More coming up right now,

(01:53):
do you.

Speaker 2 (01:54):
Want to avoid taking a wrong turn on your retirement road.

Speaker 4 (01:58):
The road to retirement is a long one, and if
you just don't want to make rock.

Speaker 2 (02:03):
Well, buckle up. We're getting ready to take a retirement
road trip together. It's the Road to Retirement with Trip Limehouse.

Speaker 4 (02:11):
It's the perfect amount to map it out. That road
to retirement is key, is key.

Speaker 2 (02:16):
To get on the road to financial security and independence.
Just like many of Trip's happy clients in retirement partners.

Speaker 4 (02:23):
My money is safe using the green line principle that
you taught me about. Thank you so much.

Speaker 2 (02:29):
Let's get this trip started. It's the road to retirement
with Trip Limehouse.

Speaker 3 (02:37):
Hey, welcome in everybody. This is the road to retirement
with Trip Limehouse. My name is Steve, so all we
are geared up, ready to go a slide out onto
the road and get that smooth trip going to retirement.
And we're going to talk about retirement curve balls. So
I think that's a good thing to sort of get
into trip. What do you think?

Speaker 4 (02:56):
Yeah, I love it. Curveballs. Sometimes we refer to those
as speed bumps or detours, you know. And really our
job here at Limehouse Financial is to is to help
you guys out there avoid all the above because we
know that this next part of life for you is
such an important part. You've been looking forward to it.
We're talking about retirement and we're all headed there one day.

(03:17):
We just need to make sure we know how to
get there, and we need to make sure when we
get there that we're monitoring it and you know, continuing
to be independent in control, thus leading to success. So yeah,
this is a this is a pretty big deal. Financial instability. Right,
you know, we're talking about retirement curve balls. Let's talk

(03:38):
about the five big curve balls, if you will, Starting
with financial instability. I don't think that those two words
ever should go together, do you No?

Speaker 3 (03:49):
No, I don't think so.

Speaker 4 (03:50):
I mean nobody, nobody just plans for that. I mean,
it can happen, and it does happen. It's a it's
a reality that a lot of people just kind of willing,
nearly moved through retirement and uh and then end up
being financially unstable and or unstable however you want a
word it that and that's not a that's not a
good thing, not a good scenario. This is kind of

(04:13):
the if you will, Oops, I ran out of money.

Speaker 3 (04:18):
That's not what you want to hear in retirement trip.
That is not what you want.

Speaker 4 (04:22):
It's definitely not or don't ever want to say it
to yourself, or to your spouse or to anyone. You know, folks,
you might have thought that you saved enough, but then
you know you're moving forward in life. Just happens and
maybe maybe the market really corrects and that market volatility
has just completely devastated, you know, your ability to be

(04:45):
financially independent, So you're now financially unstable and stable you know,
you know, I don't know. Maybe you moved into retirement
and you underestimated how much you'd actually spend. It's kind
of like plan a long road trip, but you just
didn't factor in gas prices, or maybe your gas gauge

(05:07):
in your car isn't working, and now you're stranded. And
what we're talking about here really is longevity risk. And
longevity risk is the pousibility of you outliving your money.
It is the number one risk that you face in retirement.
Eight hundred nine four zero six nine seven nine is

(05:27):
our number Limehousefinancial dot com. So we want to talk
about something that you can do to counter this financial instability.
The first thing is we want you to make a
realistic budget. Okay, so visit limehousefinancial dot com and under
the resource tab this is available for everyone. Is a

(05:49):
budget worksheet Print one, Print two, Print five, and really
take the time to evaluate what you're currently spending and
then start looking at what you think you'll spend when
you do finally retire, and if you already are retired,
this is a great exercise as well. By the way,
we do help people who are already retired. Every day

(06:09):
people come in and you know, they've been retired for
a number of years, and we do second opinions for them.
We build them roadmaps, We help make sure that they're
going to be stable. If that's you, If you are
already retired and you just want to make sure you're
doing things the right way, give me a call right
now eight hundred nine four zero six nine seventy nine

(06:29):
and schedule your time with us and we'll make sure
you're on the right track. But again, you know this
whole budget thing, everyone needs to do it. You really
need to track your spending, see where the money's actually going.
And then you want to build in a cushion or
a buffer if you will, for those just in case moments.
There's always going to be an unexpected event that pops up.

(06:50):
And another thing is don't put all your eggs in
one basket, so to speak. Make sure that you maintain diversity.
And that's our job here at Limehouse Financial Realistic Planners.
You know, we professionally manage money. We build plans for
you to get to and through retirement, and we make
sure that they are well diversified. If you are just

(07:12):
doing this on your own, then take a good look
at this. Make sure that you're you know, you've got
things kind of spread out. You have sector risk, you
have the risk of portfolios being overweighted in one holding
or multiple holdings. I mean, there's so much there. And
by the way, if you are a do it yourself or,
I highly admire that. I think it's fantastic. But I
also think that it's proven that those that work with

(07:34):
financial professionals, such as myself experts in these areas really
do better. So if you're a do it yourselfer and
you're kind of thinking maybe I should just get somebody
to take a look at this, I'm offering that to
you right now. Eight hundred nine four zero six ninety
seventy nine. Let's check out what you're doing on the
do it yourselfers and make sure it's good. I don't know, folks,

(07:56):
I guess at the end of the day, really working
with an expert is going to help you to make
sure that you have a plan that fits you so
that you don't ever face this risk, longevity risk, the
possibility of outliving your money. Hey, I've got two events
coming up. I'd like to personally invite you guys to
We've got one coming up a Wednesday at the Lexington

(08:17):
County Library on Augusta Road, six pm. This is going
to be a no cost obligation workshop on social security
and income planning. We would love for you to attend
this event, get to know us and learn more about
how we work with you to help you be successful
in retirement. Also on Saturday, April to fifth, this is
a breakfast workshop. It's going to be at nine am

(08:39):
at the Lexington Chamber of Commerce and we're going to
serve breakfast no cost to obligation and also talk about
how you need to be planning for retirement, including social
security and income and distribution planning. Saturday April fifth, nine am,
Social Security and Income Planning Workshop. Come on over and
meet us in person, spend a little time with us,

(09:00):
enjoy some breakfast, no cost, no obligation to attend to
either one of those events, give us a call it
eight hundred nine four zero sixty nine seven nine or
visit us on the web at limehousefinancial dot com. So
next we're going to get into talking about healthcare and
long term care cost, two big things deve. This is
a this can be devastating for everybody out there, you.

Speaker 3 (09:21):
Know, absolutely, and uh, I mean we've got to we
need to really dig into that. But let's do it
in the next segment. What do you think we need
to take a break care?

Speaker 4 (09:29):
Yeah, I wanted to tee it up and we're gonna
get people to come back and listen to it, folks,
So don't miss this because you really need to understand
the impact of healthcare and long term care cost on
your upcome, upcoming road to retirement journey. Eight hundred nine
four zero six nine seven nine Limehousefinancial dot Com. Hey,
right now, I'm going to offer the next ten callers

(09:51):
in the next ten minutes a written plan for retirement,
built by our team of certified financial professionals, individualized and
customized just for you, no cost or obligation. Now, this
is not something that we will simply email you or
mail to you. You must come in and go through
our process to receive this for your no cost, no obligation,
written plan for retirement. Next ten callers in the next

(10:14):
ten minutes only eight hundred nine four zero six nine
seven nine.

Speaker 3 (10:20):
Eight hundred ninety four zero six nine seven nine. That's
eight hundred ninety four zero sixty nine seventy nine. Quick
break for us. We're coming right back. Lots more to
talk about here on the Road to retirement with Trip Limehouse.

Speaker 4 (10:30):
Curveballs and retirement. Who needs them? Who wants them? I
don't think you do. Stick around. Coming up, we're going
to talk about how to avoid major curveballs, what you
can do about it so you can enjoy this next
part of your life, retirement.

Speaker 5 (10:49):
Do you ever feel like you are fighting for financial knowledge?
Don't let that advice be a punch in the gut
to your retirement. Take advantage of a complimentary and no cost,
no obligation consultation with a local, trusted financial coach called
Trip Limehouse at eight hundred and nine four zero six
nine seven nine or text trip to ri ipp to

(11:09):
eight hundred and nine four zero six nine seven nine.
That's eight hundred and nine four zero six nine seven
nine or text trip to eight hundred and nine four
zero six nine seven nine.

Speaker 3 (11:23):
Welcome back, everybody. This is the road to retirement with
Trip Limehouse. Every week, Trip guides us along, he coaches
us up, helps us get to where we want to
be and help celebrate the kind of retirement that we
have worked so hard for and that's what Trip helps us.
Do You have really kind of help shape us in
terms of how, you know, we've been good savers. Now

(11:44):
let's reap the rewards.

Speaker 4 (11:45):
Well. In general, the people that we're working with have
been good savers and you know, portfolios, seven figure portfolios,
that's the norm around here. Working with people who have
been just really intentional about putting dollars away for this
next part of their life, and you know, they're getting closer,

(12:06):
maybe they're already there, and now they're wondering what to
do with what they've accumulated. And that's where we come
in as income and distribution planning experts, as social security experts.
We're mapping all of this out for you guys out
there and helping them and we're just really having a
lot of fun doing that. You know, in the first segment,

(12:26):
we talked about avoiding financial instability and how you could
do that, and we emphasize the importance of working with
us as advisors to monitor your plan to not just
get to retirement and set it and forget it. And
we're going to continue on with that right now, specifically
talking about healthcare and long term care costs to just major,

(12:47):
major things that we all are subject to really at
any given time, but in retirement even more so because
we're older and more than likely we're not having benefits
through job anymore. So this one really is a biggie Steve.

Speaker 3 (13:03):
It's a very well exactly, And I think when we
say healthcare and long term care, two very different things.
I mean, healthcare, a lot of it's going to be
covered by Medicare, certainly not everything, so we have to
be prepared. Long term care that's not a Medicare.

Speaker 4 (13:17):
Thing, definitely, two separate issues, both related to a person's health,
for sure, but two separate issues. And you know, when
we take a look at healthcare kind of unpack it,
it gets pricier as we age, It gets pricier as
we age, and let's face it, nobody wants to think
about long term care. But it could happen. I mean, potentially,

(13:41):
you're just suddenly looking at bills way bigger than you
ever imagined, you know, nine, ten, eleven, twelve thousand dollars
a month for long term care. You know, it's it's
it's kind of like you playing for a rainy day
but forgot about the potential for if you will, a
full on monsoon, right, that rain that just keeps coming

(14:02):
down and coming down and coming down, and you know
it's here's the thing, a married couple age sixty five,
over their lifetime and retirement could really could and should
expect to spend maybe you know, three or three hundred
and fifty thousand dollars over retirement. And that's you know,

(14:23):
that's we didn't just make that number up. That's been studied.
Statistics show that that's that's what people encounter. That's things
that Medicare does not pay for. Steve, I mean medicare.
At Limehouse Financial, we're holistic planners. I want everybody to
know that we help people with Medicare. Okay, we help
people with long term care insurance, we help people with
life insurance and disability insurance, and you know, I mean

(14:47):
we do you know, professional money management. I mean, we're
really holistic planners helping folks with all of their needs
in retirement. So when we're talking about Medicare, we're definitely
proficient and efficient in it in helping the consumers, you know,
pick the best plan. But we're always budgeting within a

(15:08):
person's written plan for retirement a line item specifically for
healthcare cost because Medicare just isn't going to cover everything
you part as hospitals, Part B as doctors, Part d's
prescription drugs, and for some of those out there, you
may combine Part A and Part B and have a
Medicare advantage plan. You know, we help guide you through

(15:29):
that and make those recommendations. If you're wondering about Medicare,
make sure you give us a call eight hundred nine
four zero six nine seventy nine none needed to talk
to thirty five different people out there. We can help
you pick the best plan, make a professional recommendation, and
you know you can trust us to do just that.

Speaker 3 (15:49):
Well, because you're independent, I mean you've got you've got
the universe of things to choose from, not not everyone
some you know, sometimes you're captive.

Speaker 4 (15:57):
That's right. As at Limehouse Financial, we are independent and brokers,
so we can go out in the marketplace, find what's
best for the consumer and come back and make that recommendation.
As a matter of fact, that's the only thing that
we do. Ever, We function from a fiduciary capacity, only
making recommendations that are in a person's best interest. So
just don't assume that Medicare is going to do everything

(16:17):
for you. You know, maybe you'll be fortunate, and it will,
but why take the chance, Why set it and forget it.
Let's avoid that curve ball and regarding long term care, folks,
I mean, you know, that is something that, gosh, it
can just drastically change the course of her retirement. I've
been through it twice in my family on both sides
with my grandparents, and I've been through it many times

(16:40):
with clients, and I've seen the devastating effect. I'm thinking
of a client right now who's spouse ended up at
the Carol Campbell memory care facility, and you know, it
was ten thousand dollars a month's dee for her to
be taken care of it. She needed skilled care due
to memory loss, ten grand a month. I mean, it's
just you know, weig chunk. It is a huge tonk,

(17:02):
and we had done the best planning possible, but it
did take away about half of their retirement. Now, the
surviving spouse is still okay and financially stable, but it
was painful not only seeing his wife encounter long term care,
but also paying for it monthly and then you know,
and then the financial woes of you know, well I

(17:24):
have enough money to continue on my retirement for the
surviving spouse is always there too, But fortunately he was
okay because we had done good planning. Folks, we can
help you with long term care. You know, there's many
different ways to plan for it. There's asset based long
term care, there's hybrid long term care planning, and the
traditional long term care planning. And then for some people, Steve,

(17:45):
they're just not going to do anything and that might
be their plan and that's okay, and we tell people
that all the time, but we want to bring it
to the forefront to talk about it because in encountering
long term care scenarios is a game changer for many
different reasons. Definitely a major curve ball for people in retirement. Folks.
You know, we want to help you avoid these curve balls,

(18:06):
if you will, during retirement. We want to help you
to be in control and independent so you can have
a successful retirement. Pay close attention because this is one
of the ways that you can do that. This offers
for the next ten callers in the next ten minutes.
It's for a written plan for retirement, customized individualized just
for you at no cost or obligation. Now, this is

(18:27):
only for the next ten callers. Eight hundred nine four
zero six nine seven nine. Keep in mind, folks, this
is not something that you can just call in and
just ask for to be mailed to you or email
to you. You must come in go through our process
so that we can build this for you next ten
callers in the next ten minutes, no cost, no obligation,

(18:48):
A written plan for retirement.

Speaker 3 (18:50):
Here's your chance to benefit from a personalized retirement income plan,
just like Trip described. Call right now, we do have
some availabilities for you. Just give us a call and
make it happen. An eight hundred and nine four zeros.
It's sixteen nine seventy nine eight hundred ninety four zero
sixty nine seven nine. We need to take a quick break.
When we come back our conversation with Trip Limehouse on
the road to retirement, we'll continue. Don't go anywhere, folks.

Speaker 4 (19:12):
We want you to be smart. We want you to
make good decisions during retirement, and part of that is
just listening to the show today, learning how you can
avoid speed bumps and detours and uh wrong turns that
can lead you down a dead end on the road
to retirement. We're calling them curve balls. This morning, we've
talked about several. We're coming up next we go to
talk about more.

Speaker 6 (19:36):
If you remember these TV shows, you're getting ready to retire,
and everybody.

Speaker 7 (19:41):
See a big pair of feet or cheesy mustache, I'll
think of you.

Speaker 6 (19:46):
You guts well, I hate I'm one guy who ain't
prejudiced against anybody who may be relictship and me. It
kind of sneaks up on you.

Speaker 4 (19:56):
Doesn't it. Oh geez.

Speaker 6 (19:58):
You deserve a secure, your independent retirement, our retirement that
is prepared to handle pitfalls like inflation, health emergencies, stock
market volatility, and taxation. You've worked hard for your money
and will work just as hard to protect it and
grow it. Retirement planning doesn't have to be difficult. Get

(20:23):
the facts based approach that you deserve all at no cost,
with no obligation. Call the Road to Retirements Trip Limehouse
eight hundred nine four zero sixty nine seventy nine, or
Text Trip to eight hundred and nine four zero six
nine seventy nine.

Speaker 7 (20:40):
Getting the right retirement strategy suited to your unique needs
and desires is called hitting the bullseye. You can say
I nailed it. You actually should say we nailed it
because there's a firm right there with you putting together
the pieces of your own retirement puzzle. It's a bulls
eye plan for you. Call Trip Limehouse of Road to

(21:00):
Retirement eight hundred nine four zero six nine seven nine
or text Trip Tripp to eight hundred nine four zero
six nine seven nine. We've made it easy for you
to take advantage of this fantastic offer. All you have
to do is call our text Trip to eight hundred
nine four zero six nine seven nine.

Speaker 3 (21:19):
We are back on the road to retirement with Trip Limehouse.
Trip is guiding us along. We've got a great drive going.
It's very smooth and that's what we're trying to do
is keep that retirement, that road into retirement, a smooth ride.
That's why again Trip can help get us there. We've
talked about financial instability and how to really address that. Healthcare,
long term care always a big topic, and now let's

(21:41):
get into another one that is very important. And boy,
you know, I think people sometimes overlook how important tax
planning for retirement is.

Speaker 4 (21:52):
The three letter word tax, Oh yeah, yeah, not a
good one. I mean it. It's it's really a doubting
that we see so many people at the conference table
here at Limehouse Financial who have no idea of the
tax liability they're going to have moving forward in retirement.

(22:16):
There's a fallacy that you'll get to retirement and you'll
pay less taxes than ever before. Although for some of
you that may be the case, you know, for a
typical client here at Limehouse Financial, that is not the case,
because we're working with people that have a tremendous amount
of money saved and typically in tax efferred or retirement accounts.

(22:38):
I'm thinking of a couple that Jonathan and I recently
brought on as a client, Steven and just such a
great couple. He retired from Dominion and she was retired
from Blue Cross, So two big companies. We work with
a lot of those folks here in our office that
retire from those those companies. Anyway, both of them pensions,
both of them social securities, and both of them over

(23:00):
seven figures in their four to ones. Now that's a
lot of money, okay, between two people. The best part
about their retirement is they have income that they can
ever outlive with the pension, right, But when we started
talking to them about you know, required minimum distributions, and
then we that led us into the tax conversation, income

(23:21):
tax conversation, they started getting a little squirmy in their seats.
And I don't blame them, because we were talking about
you know, require minimum distributions and excess of six figures
you know, in their retirement. So that's on top of
you know, their two pensions and two social securities. So
you know, we're talking about three hundred thousand dollars plus
income during retirement. I mean, not that anybody would complain

(23:43):
about that, but for this particular couple, when we shed
light on the fact that they were going to have
to pay so much in income taxes, they're social Security
eighty five percent of it's going to be taxable. They're
probably gonna be in the top tax bracket. You know,
they might run into having to pay you know, more
premium for Medicare. I mean that, you know, it just
started being a little like, oh my gosh. So anyway,

(24:04):
everyone needs a tax efficient retirement plan, tax efficient retirement plan,
and so we're cultivating that type of a plan for
this couple that we recently brought on, and we're going
to try to mitigate some taxes between now and the
required minimum distribution age, which is seventy five, so they've
got a little bit of time. And we do that

(24:26):
in many ways, one of which is Wroth conversions. You know,
we're right now, we're in a favorable tax environment and
taxes are on sale, so to speak. So you know,
we do Wroth conversion analysis for people to determine, you know,
should they convert, how much should they convert? What are
the long term savings to doing that, you know, to converting.

(24:48):
Really everybody needs a Wroth conversion analysis. We call it
the RCA. And also everyone needs a tax efficient retirement
plan the te er p. Eight hundred and nine four
zero six nine seven nine. So folks, you never know,
I mean, Uncle Sam wants his cut for sure, and uh,

(25:09):
you know, tax rules could be super confusing, super confusing, definitely.
I mean just hands down, you're like, what what they're
always changing? And everybody's confused. And furthermore, we don't know
what they're gonna change coming up, right, So you know,
it's kind of like building your dream house and then
you find out you need a bunch of permits that
you didn't know about. That's really how it comes down to.

(25:29):
So keep good records. Here's here's a way to counter
this taxation problem. Keep good records, and uh, don't be
afraid to ask us for help as experts in this area.
You know, as as income and distribution planning experts. We're
always talking about taxation and we can help you navigate
this tricky stuff. And again, don't you know forsake looking

(25:52):
at tax advantage accounts. As I mentioned a minute ago, Wroth,
I raise, they can definitely make a big difference in retirement.
Just stay up to date on what's happening by working
with us as an expert in this area because things
change all the time. Now, I want to touch on
one more retirement curveball estate planning oversights. This is a

(26:13):
this is a big one.

Speaker 3 (26:15):
It's a real big one. And I think people oftentimes
you overlook or put off the estate planning piece just
because we don't want to talk about it. But it's
really important to face that and just I mean, if
you care about your family, you're gonna want to leave
an estate plan for them.

Speaker 4 (26:29):
Well, let's just define it real quick for people because
they may wonder, well, I don't really what I don't
need to do with state planning, you know. But here's
here's what we're talking about. We're talking about making sure
that all your stuff goes where you want it to
go when you're not here anymore. And the bottom line is,
if you don't have a solid plan, you know, the
people that you leave behind really could end up with
a big headache or even fighting over things. I mean,

(26:51):
it just happens. It's kind of like if you carefully
organize all your your you know, photos and memorabilia whatever,
but you didn't label anything, so no one knows what's
what I mean. That's kind of how not having an
estate plan looks for people out there. So here's what

(27:12):
you need to do about it. You need to get
a will, You need to maybe get a trust. Everyone
needs a healthcare power of attorney and a durable power
of attorney. Don't put it off, okay. Also talk to
the people that you love about this type of thing.
Let them know what you want done, so it's just
put out there right. Even if they don't like it,
just tell them it's just going to make things a
lot easier for them later on in life. Make sure

(27:35):
your beneficiaries are up to date as well. Folks. It's
really simple. That's a simple step that can prevent a
lot of headaches. Okay, hey, I'm excited to invite you
guys out there to workshop we have coming up this Wednesday.
We've got a Social Security and Income Planning workshop at
six pm at the Lexington County Public Library Wednesday, April second,
six pm the Lexington County Public Library, No cost obligation

(27:58):
Social Security and Income Planning work Shop. And then on Saturday,
the fifth of April, we're going to have another Social
Security and income planning workshop where we're going to serve
you a breakfast, no cost, no obligation. This is going
to be at nine am at the Lexington Chamber of Commerce.
It's gonna be Saturday the fifth of April nine am
Lexington Chamber of Commerce, a Social Security at Income plaining

(28:19):
workshop and with a breakfast being included for you. You
must call eight hundred nine four zero six nine seven
nine to attend either one of those, folks, you can
do better, We want to help you avoid curveballs. How
can you do better? Well, be one of the next
ten callers in the next ten minutes to receive a
no cost, no obligation, written plan for retirement built by

(28:42):
our TIMO certified financial professionals, individualizes and customized just for you,
no cost, no obligation. You must come in go through
our process to receive this. Eight hundred nine four zero
six nine seven nine, Next ten callers, next ten minutes.

Speaker 3 (28:55):
That sounds fantastic, Trip, don't miss this opportunity to come
on and sit down, get yourself for financial roadmap put together.
Make that appointment. Eight hundred ninety four zero six nine
seven nine, eight hundred ninety four zero sixty nine seventy
nine Quick break back with more on the road to
retirement with Trip Limehouse.

Speaker 4 (29:10):
Right after this, Yesterday's home runs don't win today's games.
A famous quote by Babe ruth Hey. Our recession talks
derailing your retirement plans. Don't worry, We've got you covered.
Coming up, we're going to talk about how simple adjustments
can get you back on track and safeguard your retirement future.

Speaker 1 (29:36):
This is such a blow to invest do it right now,
Bert want along in the world.

Speaker 7 (29:43):
It takes courage to face up to things like volatile
markets and Wall Street money traps. If you're unsure, worry
or losing sleep, about your money, do something about it.
Carl Trip Limehouse, host of Road to Retirement eight hundred
nine for zero six nine seven nine, or text Trip
Trip to eight hundred nine four zero six nine seven nine.
We've made it easy for you to take advantage of

(30:05):
this fantastic offer. All you have to do is call
our text Trip to eight hundred nine four zero six
nine seven nine.

Speaker 8 (30:12):
Hurricanes, tornadoes and fire, these are serious situations we plan.

Speaker 4 (30:17):
In advance for.

Speaker 8 (30:18):
The Volatility of the market can be just as devastating
when a market correction does occur. There are strategies you
can employ to bounce back. Call Trip Limehouse and his
team at Limehouse Financial today at eight hundred nine four
zero sixty nine seventy nine, or text the keyword Trip
to eight hundred nine four zero sixty nine seventy nine.

(30:40):
We've made it easy, folks. All you have to do
is call or text the keyword Trip to eight hundred
nine four zero six nine seven nine.

Speaker 3 (30:51):
We are back on the road to retirement. What Trip Limehouse.
My name is Steve Soon. Oh, we have been talking
about Wow. Just really a lot of nuts and bolts
and just the heart of what a solid retirement plan
is all about and this time it's going to be uh.
I think we're going to sort of contrast that by
looking at things that we used to do and the
ways we used to do them versus how we are

(31:12):
doing them now. And I think when it comes to
retirement planning, sometimes people are hung up on the old
rules and are not willing to change. Would that be
your experience, Yeah?

Speaker 4 (31:22):
Absolutely. I think that people sometimes get set in ways,
or maybe they've read about something, or have a friend
or a family member that has done something a particular way,
and they're just like, I'm just going to continue on
with this, and you know, maybe that will work or
maybe it won't. We just want to talk about how
there's a better way to do things. And you know,

(31:43):
in my two plus decades of helping people get to
retirement and through retirement, I've seen a lot of changes, Steve,
I mean naturally, and I've had to talk to people about,
you know, considering change and implementing change, and I get it.
I really do. Change sometimes is difficult. Matter of fact,
I encourage everybody out there to read that book Who

(32:04):
Moved My Cheese. I can't recall to who wrote that book,
but it's a it's a great read, about a thirty minute,
one time sit down read. But who've moved my cheese?
Spencer Johnson? Okay, thank you? And and and what he
talks about is, you know, anticipating change and embracing change
because it's going to happen, and in particular related to

(32:28):
where some of you may already be in retirement or
where some of you may be headed. I mean, it's
just that's so true. The things that used to work
don't necessarily always work, uh forever. And and you know
sometimes we even hesitate now, Steve, when we're talking about
the market, you know, to to reflect back on historically

(32:51):
the market has done this, or historically the market has
done that, you know, because it's just such a different world,
you know, wouldn't you agree that. I Mean, we're just, oh,
are so different now than they ever have been, right, right.

Speaker 3 (33:03):
Well, even in the time that I've been doing shows
with well like you, it's about seven years, I've seen
changes in the retirement you know, sort of a horizon.

Speaker 4 (33:12):
Yeah. And I like years ago it used to be
let's just say let's people would just say, let's just
follow a portfolio model, okay, and what do I mean
by that. Okay, Well, a portfolio model might be something
like this, We've got fifty percent of your portfolio in
stocks and fifty percent of your portfolio in bonds. Okay,

(33:33):
that that could be an example of a portfolio model,
or maybe it's a seventy thirty or you know, sixty forty.
But the underlying theme throughout as far back as I
can remember is that the younger you are, you can
have more on the front side at risk or more
at risk. So maybe you're younger and you can have

(33:55):
seventy five percent invested in the stock market and equity,
and then twenty five percent and fixed income or in bonds,
and then you know, you age a little bit and
then that that tones down, so maybe you go to
sixty percent equities, forty percent bonds and a lot of
these target target date retirement funds that people have in

(34:18):
their retirement accounts at work. And by the way, we're
not going to call those retirement plans at work, because folks,
there's a difference between an account and a plan. An
account is just where you have money located, and quite frankly,
that's what most of you have right now. I know
this because I'm seeing you on a daily basis, and
very few people that we see actually have a plan,

(34:39):
They just have accounts. So a takeaway right now is
that there's a difference between an account, which is where
money is just located, and a plan, which is what
gets you where you want to go and keeps you there.
And the sooner you move from an account to a plan,
the more successful you are during retirement. We can show
you how to do that. Eight hundred nine four zero
six nine seven nine Limehouse Financial dot Com. But going

(35:02):
back to these target date retirement funds steep you know,
you know, they like, let's just say you have a
target date retirement fund twenty twenty five, target date retirement
fund twenty thirty, target date retirement fund twenty thirty five,
you know, et cetera, et cetera, et cetera. Well, you know,
they're designed supposedly to adjust as people are aging for

(35:24):
the proper amount of risk. Now where I'm going with
this thought though, is that we're seeing, you know, people
who are stuck in those in their retirement accounts at work,
and they think that they have the best thing for them,
but they're really not. Okay, they're because they're just not
working like they used to. So we can't go back
and say, well, historically they've done this, they've done this.

(35:44):
I mean even if we're looking at a five or
a one year returner, five or ten or twenty year return. Okay,
I get that, right, I get that. But the bottom
line is that things are not working like they used to.
So folks, I would review your holdings in your four
to one k's, your four or three v's, your TSPs,
you know, et cetera, et cetera, your employer sponsored retirement accounts. Again,

(36:09):
we're not going to call them a plan because they're
just a place where money's located. And furthermore, what I
would encourage you to do is come in and see us.
Let us look at how you have those structured and
if they are proper for you. And you know what,
if you're fifty nine and a half or older, you
may just have, you know, the opportunity to create your

(36:30):
own Iray, we can help you with that. Roll over
the money that's in that employer sponsored retirement account into
an IRA, and then get out of those funds that
really aren't doing what they have always done and aren't
the best for you. Okay, let's lower costs, let's lower fees,
let's get better performance. And we're doing that by rolling

(36:52):
money out of what you have into an individual retirement
account that we set up for you, and then us
professionally managing it for you and incorporating it into written
playing for retirement for you. Okay. So, if you're fifty
nine and a half or older and you're listening, these
are things you need to be looking at. Okay. So
but you know, when I'm thinking about the target date

(37:13):
retirement funds, or really any kind of portfolio model, when
I'm thinking about, are people that lean into bonds or
fixed income securities for safety. That's a common thing we see.

Speaker 3 (37:23):
Sure it is.

Speaker 4 (37:24):
We're doing an analysis with someone and we're saying, you know, well,
why do you I mean, last week we met with
a lady and she had a portfolio, and by the way,
her model of her portfolio was appropriate for her age. Okay,
So she was at about a seventy thirty blend seventy
percent equities. Excuse me, I have it backwards. She was
about seventy percent bonds and thirty percent equities. She was

(37:46):
a little bit older, and so we asked her, you know,
why are you leaning so much into the bonds? And
she was a very very astute person, and she said, well,
my understanding of bonds and fixed income securities that I'm
going to get the stability that I want, you know,
at my age seventy three, right, And we said, well,
that's that, that supposedly is the case. And then I

(38:08):
asked her question, what if what if there was a
better way for you to do this? What if you
absolutely could have a one hundred percent security, no loss
of principle possible, and potentially even earn more interest? And
she said, what how can I do that? And I said,
it's the green Line principle. We help people with it

(38:29):
every day. Folks. Visit green Line Principle dot com to
learn more. Greenlineprinciple dot com to learn more. What is it? It's
a safe money strategy where zero is your hero. You
cannot lose any of your money associated with this part
of your plan, and you have a lot of upside potential.
So Steve, you do know what we did?

Speaker 3 (38:50):
What's up?

Speaker 4 (38:52):
Well, first thing we do is we just built our
plan okay, okay, yep. And then the second thing we
did was, you know, showed it to her, and we
explained to her that instead of her keeping seventy percent
in bonds and fixed and income securities, she could replace
that portion of the portfolio model with the green line

(39:15):
principle and she could get what she was after, which
is not losing anything and earning more interest. And so
we just we shared all the facts with her, and
the bottom line was there was a better way for
her to do things. And she's, you know, becoming a
client now. Folks, I would share with you too, there's

(39:36):
probably a better way for you to do things. And
that's what we're talking about. We're talking about just getting
together with you, learning about where you are, what you
want to do, and we're talking about a better way
for you to do things. And we open up the segment,
you know, talking about how things that used to work
don't necessarily always work again and again and again and

(39:58):
again in a class. Example of what I'm talking about
is when the FEDS raised interest rates eleven times in
twenty twenty two. You know, they were doing that to
try to rein in inflation and prevent a recession and
all kinds of things, and and and I've talked about
it before in the show, but their attempt to accomplish

(40:21):
what they had been able to in previous years. Accomplish
was was just an attempt. It did, it just did
not work. That's why they raised it. Raise the rate,
raisor rate, raizor rate. Raise the rate, raise the rate,
raise rate. That's why we are we are now. There's
so much going on. I mean, trillions of dollars in
national debt, unfunded obligations by the federal government, Medicare, social

(40:44):
Security totally just underfunded. I mean, crazy enough to be
concerning for everyone out there. Okay, and uh, stock market volatility.
Now this is I'm not I'm not coming to anybody
today from a perspective of, you know, like fear and
trying to instill fear and people. I'm just talking about reality.
I mean, all you gotta do is just turn on
the news and you hear this stuff every day, you know,

(41:05):
ever since, and it seems like it's more and more,
didn't it Absolutely to talk about the h and I
didn't even mention like tariffs new thing. They're not a
new they're not a new thing, but you know there
we haven't seen them for a while.

Speaker 3 (41:20):
Certainly becoming a headline again.

Speaker 4 (41:23):
Yeah, and uh, and then conflicts all around the globe,
you know coming up. I mean, folks, we live in
an ever changing world. I do know one thing you
can learn more about the types of planning that we
do in the in the in the strategies and the
solutions and the better ways to do things, and and
the way that you can learn more is by attending

(41:44):
one of our live events. And I'm personally inviting you
to to two of those that we have upcoming. Pay
close attention. We've got one this Wednesday night, April to second,
Lexington County Public Library, six pm, no cost, no obligation,
A social security and income planning workshop. This Wednesday, April second,

(42:07):
six pm, Lexington County Public Library, a social security and
income planning workshop. And then on Saturday, April the fifth,
we're going to have another one. It's going to be
at nine am Saturday, April the fifth at the Lexington
Chamber of Commerce. This is a social security and income
planning workshop. It's a breakfast event. We're going to serve

(42:27):
you breakfast and there's no cost or obligation for this
Saturday morning event. April the fifth, nine am at the
Lexington Chamber of Commerce. A social security at income Planning workshop.
If you'd like to attend either one of those folks,
you must give us a call eight hundred nine four
zero six y nine seven nine Limehouse Financial dot Com

(42:49):
under the events to have to learn more. So you know,
rules have changed over time, you know, in the past,
and the president approach president approaches aren't you know necessarily
what they have been in the past. One thing to
talk about real quick is the four percent rule then
and now in the past. The four percent rule. This

(43:09):
is a rule who's introduced in the nineties and it
suggested that retirees could withdraw four percent of their nest
egg every year without running out of money. And this
rule is based on historical market returns as a safe
estimate for retirees at that time. Now let's talk about today.
So there are a lot of people that still argue

(43:30):
that the four percent rule may be too optimistic due
to factors like lower interest rates or higher interest rates,
higher inflation, and longer life expectancies. Recommendations now are kind
of suggesting a more conservative three and a half percent
withdrawal rate or focusing on an asset growth with the

(43:51):
seven percent return rule. So why the change, Well, I
mean we're just acknowledging that longevity and market volatility require
more flexible and personalized retirement strategies. That's exactly what we're
offering here at Limehouse Financial eight hundred nine four zero
six nine seventy nine. We just live in an ever

(44:12):
changing world, Steve.

Speaker 3 (44:13):
I mean, it really is, and we've got to keep up.
And fortunately that's why we turned to you, an independent
fiduciary advisor, to help us get to where we want
to be when it comes to retirement.

Speaker 4 (44:23):
Yeah, and we're having fun helping people. One more thing
real quick, I want to just mention to you is
some of you focus on a magic number. Okay, yes,
the magic number rule, And this could look something like this.
You're thinking that a million dollars your golden number for retirement.
That became Focusing on a number like that became popular
in the in the late in the twentieth century, and

(44:44):
people viewed that as a threshold for comfortable retirement. It
was thought to be enough to generate forty thousand a
year using the four percent rule. But is it still enough? Well,
I don't know. It's a milestone, but it might not
be sufficient for you. I mean, planning should focus on
tailoring savings to your your lifestyle and your needs, and
personalized planning is what we offer. We're going to consider

(45:05):
all the variables that are out there for you, and
we're gonna look at strategies that can be based upon
your needs, your lifestyle and risk tolerance, and your lifetime
income need. Folks, don't forsake lifetime income. Income determines outcome. Hey,
one way you can be successful during retirement is to
take advantage of this offer. It's for the next ten
callers in the next ten minutes. It's for a written
plan for retirement. Individualize and customize just for you, no cost,

(45:29):
no obligation. Next ten callers in the next ten minutes
will receive a no cost, no obligation, written plan for retirement.
You must come in and go through our process to
receive this. Eight hundred nine four zero six nine seventy nine.

Speaker 3 (45:43):
Eight hundred ninety four zero sixty nine seventy nine quick
break for us. One more segment to go Here on
a road your retirement. What's yourp line house.

Speaker 5 (45:56):
You've worked all your life, you've saved, you've followed all
the rules. Now it's time to retire. Here's the question
who do you want relaxing and taking it easy, your
nest egge or you Well, of course you want to
relax and travel and enjoy and nest egg. You've got
more work to do for a retirement that maximizes your portfolio,

(46:18):
your social security, avoids unnecessary risk, protects you from pitfalls,
and frankly lets you retire and keeps the nest each working.
You need a retirement partner. You need someone looking out
for your best interests and building a plan for you
based on your situation. Call trip Limehouse at eight hundred

(46:39):
and nine four zero six nine seventy nine or text
trip tripp to eight hundred and nine four zero six
nine seventy nine. That's eight hundred and nine four zero
six nine seventy nine, or text trip to eight hundred
and ninety four zero six nine seventy nine.

Speaker 3 (46:56):
Hey, we're back on the road to retirement with trip
Limehouse shoe. He's talking about questions, statements or explanations, and
I'm talking about I'm talking about you know, repercussions, consequences
and repercussions.

Speaker 4 (47:09):
Yeah, people got to know. I mean, you know, do
something wrong and you're going to pay the price, and
how do we avoid doing that well, I mean just
by answering these questions. So many of you out there
are wondering things, and guess what, You're in the right place.
At Livehouse Financial, we are social security and incomplaining experts.

(47:31):
This is what we do. We help you get to
retirement and stay there, and for those of you who
are already there, we help you continue on with it
and potentially even do better during retirement. Eight hundred nine
four zero six nine seven nine. Quick shout out to

(47:52):
my longtime mechanic Danny. Just talk with him recently said
I'm listening to you every weekend trip and guy, and
so I just wanted to say hey to you, buddy,
Thanks for always taking good care of us, and hope
that back continues to heal up. While I'm thinking about
people as always, just have to let my love of

(48:13):
my lifetime, Amy know how much I care for her,
and Honey, I just love You're the best. She's always
asking you know about the shows and what's going on,
and she's a big face the face of Limehouse Financial.
You always hear at events. That makes me think of events.
By the way, folks, we've got two events coming up.
One is Wednesday night, would love to have you with

(48:34):
us at the Lexton County Public Library six pm. A
Social Security and income planning workshop, no cost, no obligation.
That's this Wednesday the second at the Lexton County Public
Library six pm. And then also on Saturday, we've got
another one. It's a breakfast event. Steve, you want to
place your order?

Speaker 3 (48:52):
I do, yes, I'm feeling like a waffle.

Speaker 4 (48:55):
Waffle, you're waffling. I love it. Yeah, we love these
breakfast events, and folks, we are going to serve your breakfast,
no cost, no obligation, Saturday the fifth at the Lexing
Chamber of Commerce, nine am. This is a Social Security
and Income Planning workshop, no cost or obligation. Saturday the

(49:17):
fifth of April nine am, Lexan County. Excuse me, the
Lexing Chamber of Commerce Social Security and Income Planning Workshop.
Breakfast is served. You must call in though, to get
on the roster to attend those eight hundred nine four
zero six nine seventy nine. Come on out. So these
questions are great, folks. We really appreciate you always calling

(49:39):
in and asking questions because they really help others, and
they of course help you when we answer them. So
let's get right into them.

Speaker 3 (49:47):
You got it. We've got Leslie up first from Chapin.
She's wondering. She says, I've got two hundred thousand dollars
in my four oh one K thinking about taking a
fifty thousand dollars loan to help pay for a home renovation.
But I'm worried about repayment terms and taxes if I
leave the job. What are the risks of a four
oh one K loan in this situation? That's a good question.

Speaker 4 (50:10):
Yeah, hey, Leslie, I think it's good that you are
considering borrowing your own money versus borrowing money from the bank.
You know, the advantage of borrowing your own money is
when you paid back, you're paying yourself back the interest.
So the max you can never borrow from a full
one K is going to be fifty thousand. And you
know the terms are going to be set forth by
the plan administrator, so make sure you check on the

(50:32):
rate and the term. You know, as far as if
you leave your job, that would be considered a taxable event.
So the risk of taking a loan from a four
to one K and not paying it back before you
leave your employer are that at the time when you
separate service, it's going to be looked at as a distribution.

(50:53):
So if you're under fifty nine and a half, you're
going to pay a ten percent penalty and you're going
to pay taxes. If you're over fifty nine and a half,
you're just going to pay the taxes. Also, let's say
you borrow the fifty thousand and you repay fifteen and
you only owe thirty five. Well, then the whole fifty
isn't taxable, only thirty five is taxable. So love to
help you look through this and also talk about strategies

(51:15):
with four to one ks. We're helping people every day
understand what to do with their four to one K.
If you're out there right now and you've got a
four to one K or a four to H three
B or a TSP, you know, any kind of taxiffer
retirement vehicle that you're utilizing through an employer and you're
not quite sure what to do with it, ask us
about that. We can make recommendations. That's what we're doing.

(51:36):
That's what we're doing a from a fiduciary capacity, making
recommendations for folks that are in their best interests.

Speaker 3 (51:44):
Sounds great. Eight hundred ninety four zero six nine seven nine.
Here we go. Hugo is in Casey and he says,
I've got a four oh three B. I'm fifty five
years old. I want to continue working part time and
withdraw fifteen thousand dollars per year. What he's wondering is
how the rule of fifty five applies if he stays

(52:05):
with the same employer and contributes less to their four
roh three B.

Speaker 4 (52:10):
Hey, Hugo, thanks for calling in. I think that how
it applies is going to be the same throughout all
the years. Using the rule of fifty five will allow you,
if you're fifty five years or older, to make withdrawals
from a retirement account through your employer while you're still
employed there, and you know they work well. You know,

(52:30):
the only repercussion really is you're contributing less. They'll be
less for retirement for you on the backside. So not
quite sure why you want to continue to do that.
It doesn't really make too much sense to take money
out and then contribute money. I'm not quite sure about that.
I think we really need to dive deeper, and so
come on in and let's build you a retirement plan.

(52:53):
To help you navigate through what you're trying to do,
because what you're saying it's not quite driving me, and
I want to make sure that you're going to be
doing the best thing for you, folks. This next offer
is for the next ten callers in the next ten minutes,
is for a written plan for retirement built just for you, individualizing, customized,
no cost or obligation. Next ten callers in the next

(53:16):
ten minutes will receive a written plan for retirement at
no cost or obligation. You must call in right now.
Eight hundred nine four zero six nine seven nine. Hey,
thanks for tuning in to another great episode of The
Road Retirement Show. Where're very thankful for you our listening audience,
and we're looking forward to being with you again next
week and until then, God bless you.

Speaker 2 (53:40):
The information provided is for illustrated purposes only and does
not constitute investment, tax or legal advice. Information has been
obtained from sources that are deemed to be reliable, but
their accuracy and completeness cannot be guaranteed. Neither Trip Limehouse
nor his guests are liable for the usage of information discussed.
Always consultable the qualified investment, legal, or tax professional, before
taking any action,