Road to Retirement 05-13-2023

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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. And welcome to
everybody. This is the Road toRetirement with Trip Limehouse on Consumer Advocate Steve

(00:24):
So I'll Trip of course been helpingfolks for a good long while, but
we are going to put Trip inthe hot seat today because he's got a
pop quiz coming up about things thatpeople are thinking and feeling about retirement.
And you know what's on the styleof family Do right, Trip, What
do you think? Folks? Staytuned because what we're going to get into

(00:49):
is real. Welcome into the Roadto Retirement show. This is not your
average ordinary talk show on retirement.We're gonna have fun today. Stuff that
you need to know. We're goingto lay it out for you coming right
up. Do you want to avoidtaking a wrong turn or your retirement road?
The Road to retirement is a longone. And if you just don't

(01:10):
want to make Roman Roctor Wells,buckle up. We're getting ready to take
a retirement road trip together. It'sthe road to retirement with Trip Limehouse.
It's the perfect dimemound to map itout. That road to retirement is key,
is key to get on the roadto financial security and independence. Just
like many of Trips happy clients inretirement, partner, my money is safe

(01:33):
using the green line principle that youtaught me about. Thank you so much.
Let's get this trip started. It'sthe road to retirement with Trip Limehouse.
And welcome back everybody. This isthe road to retirement with Trip Limehouse.
I'm consumer out because Stevenson also Tripyou got us. Go on,
man, We're gonna do a financialfeud, right, family feud, only

(01:56):
we're gonna call it financial feud.What do you think you like it?
I think if everybody we would seeus and we were like running around in
the studio like they do on TVon that shows, it's great. And
by the way, I just gottasay kudos. Is Steve Harvey love him?
Love him? Oh yeah, hereally is. And that guy has
come through a lot and I gota lot of great motivational things out there
as well. So but again,folks, welcome into the Road to Retirement

(02:20):
show. I'm trip Limehouse. Ournumber is eight hundred nine four zero six
nine seven nine and you can findus on the web at limehouse financial dot
com. Glad to be with youtoday. We are rocking and rolling down
the road to retirement. As youoften say, Steve, we are cruising
and uh we got the top downbecause this spring weather is awesome. Oh

(02:43):
yeah, and we're having fun helpingpeople. So we just you know,
we've been doing a lot of funthings lately. Yes, yeah, we're
just adding to the fun right,all right, so you know that do
you know the rules up? Imean, if you get it wrong,
it's gonna sound like this, andif you get it right, you're gonna
get that or that. All right. Well, let's the end. When

(03:08):
I win, I could to keepall the prize money, You get all
the prize money, exactly right,No worries there, all right, So
let's uh, let's get let's diginto this. So we've got a number
of different surveys out there having todo with um, you know, employment.
The twenty twenty three ARBI Retirement ConfidentSurvey. The results were shocking.

(03:30):
So we're gonna dive in UM andwe're gonna just ask Trip what you think?
What do you think? So onethousand and eleven working American adults were
surveyed about retirement. The three topanswers on the board of those surveyed,
what are the top concerns among thoseworried about their financial future? Trip?
What do you think? What's numberone? I'm going to say, uh,

(03:53):
that survey the top answer top concernsamong those worried about their financial future?
Number one, can I retire?Number two? Uh? Do I
have? Nope? No, itwas wrong, Okay, all right?
Number two? Number two keeping upwith the cost of living? Close but

(04:17):
no cigar. All right here,let's let's I'm just having enough money to
retire, having enough money to retire, or not having enough money to retire.
M that's what the concern is.Right, Well, I'll tell you
what. Enough money to retire?Sixty eight percent, that's the number one.
Number two was keeping up with thehigh cost of living, and number

(04:38):
three managing debt levels came in atforty five percent. And again, but
all three of those things are arecertainly legit concerns, aren't they. Well,
especially that number one not having enoughmoney to retire. I mean,
so that was that came in,you said a sixty eight percent, right,
okay, So again, working Americanadults surveyed about retirement number one concern

(04:59):
not having enough money to retire.So I get it. And you know,
people come in and see us hereat Limehouse Financial and they ask us
that question, like like, well, can I retire or do I have
enough money to retire? I don'tthink I have enough money to retire.
And folks that maybe you right now, I would like to take the guess
work off the table. I wouldlike for you to win the game and

(05:25):
go the distance, right, Andso you know in doing so, in
meeting with you and talking with youthrough this, I mean you may fall
right and in that category against sixtyeight percent of working Americans survey, that
was their biggest thing regarding top concernsin retirement not having enough money. So
you know, let's take the mysteryout of it. Come on in and

(05:46):
let's get together and let's see whereyou are, what you have, where
you want to go, and talkabout how you can get there stay there,
and be independent and successful. Soif that's you, eight hundred nine
four zero six nine seven nine isour number, just give us a call
and get on our calendar so wecan clear the air and perhaps you can

(06:06):
win the game. He question.Here we go. The survey was done
with the five seven working Americans.They said they're not confident about their ability
to live comfortably throughout retirement. Thetop five answers, what are people's top
concerned or top concern What do youthink? Okay, okay, So I'm

(06:28):
gonna say, based upon my experienceover twenty years of seeing people who are
not confident about their ability to livecomfortably, I'm going to say, um,
number one answer economy, recession,that type of thing. What may
be going on with legislation and volatilityin the marketplace. That is not number

(06:56):
one. That's not number one,that's number that actually number two and three
the number one answer to go ahead. So I'm doing pretty good. All
right, let me let me goahead and let me swing the bat again.
All right, swing bad. It'slike I'm envisioning being on this set
with Steve Harvey right now. We'regoing down the line. Everybody's happy,
We're having fun. Okay, mA little okay, not enough savings or

(07:25):
can't afford to retire. There yougo, Number one answers. That's that's
sixty eight or forty percent of thefolks are concerned about that. That makes
sense. So let me again.You nailed it though too down the line.
Inflation, cost of living certainly isa is a concern. The economy
recession was you said? Government isbig concern, unemployed issues, no job

(07:46):
who that sucks? And a fixedbudget. Volatility in the market too.
Tell me in the market. Ididn't mention that. Could give one more
end Oh, sure, we gottime for one more quick one. Here.
Let's see, um, the topsix answers on the board of eleven
hundred and fifty three working Americans,they were not too confident about their ability

(08:07):
to live comfortably throughout retirement. Whatwere their top concerns? Oh? Okay,
all right, this is an easyone there. Number one concern right
now, it's social security. Youare right, trip, that is it?
The social security concern is the biggestconcern out there. Well, I

(08:28):
mean, I think that the reasonI got that one right off the bat
is because we do these events socialsecurity and income planning workshops all the time,
and I mean people are expressing theirconcern is it going to be around?
I mean, will my benefit wouldbe reduced? Can I count on
it? When's the best time tofile for it? I mean, so
yeah, it's a hot topic rightnow. By the way, folks,

(08:50):
we are having a live event onMay the twenty seventh. This is a
breakfast. Yes, we are goingto serve you breakfast and lots of information.
It's going to be at Saturday,May the twenty seventh, nine thirty
am at the Chamber of Commerce inLexington. If you'd like to attend that
live event, give me a callright now and let me know. Eight
hundred nine four zero six nine sevennine. You have to reserve for that

(09:11):
one. That way, we haveenough food for everybody, got plenty of
information for everybody, but I wantto make sure we can feed everybody as
well. Again, that's May twentyseventh, Saturday, nine thirty am at
the Chamber in Lexington. So hey, this has been really fun and we
may continue a little bit more intothe next segment. But overall, folks,
here's the deal. There are concernsout there that you have. We're

(09:31):
aware of them and we want tohelp you address them. Okay. So
the offer right now for the nextten callers in the next ten minutes is
just call in and ask me forthe I want to know plan, okay,
and I'll show you how to doit. Put it all together.
That makes sense so that you canget to where you want to go and
stay there and be successful. Soundsgreat. Trip again, give us a
call eight hundred nine four zero sixnine seven nine. It's an opportunity to

(09:54):
get that comprehensive financial review see whereyou are today. But more importantly,
YEP wants to help get you onyour road to retirement, and it starts
with that call. Eight hundred ninefour zero six nine seven nine. Eight
hundred nine four zero six nine sevennine quick break. We're coming back whole.
I'm want to talk about here onthe road to retirement. What Trip
Limehouse. Do you ever feel likeyou are fighting for financial knowledge? Don't

(10:22):
let bad advice be a punch inthe gut chinger retirement. Take advantage of
a complimentary and no cost, noobligation consultation with a local trusted financial coach
called Trip Limehouse at eight hundred andnine four zero six nine seven nine or
text trip tripp to eight hundred andnine four zero six nine seven nine.

(10:43):
That's eight hundred and nine four zerosix nine seven nine, or text trip
to eight hundred and nine four zerosix nine seven nine. Welcome back to
the Road to Retirement show, folks. We've been having a lot of fun
taking our play on Yes you gotit a game show surveys says, and

(11:05):
we've got more coming up or youon the things that you were talking about,
wondering about and top concerns regarding retirementplanning. Hey, welcome back everybody.
This is the Road to Retirement withTrip Limehouse. I'm consumer advocate Steves
at All and we are in themidst of the feud. Right, family
feud is what we're talking about,of course, and family feud, family

(11:28):
feud. And what we've done isput together a bunch of different surveys and
pulled the top answers of concerns thatpeople have working what working Americans have,
folks like you and me, Trip, that's what we're talking about. So
let's put Trip to the testsee ifhe can come up with the right answer
for this question of I'm running aroundon the set, right, I'm getting

(11:50):
rid all pumped up like we seeon with Steve Harvey and everybody on the
stage. Here we go, okay, here we go. Of two thousand,
five hundred thirty seven working and retiredAmericans survey, top five answers are
here. Who do they trust themost with their finances? M hmm Okay,
I'm going to say, um,number one answer would be family.

(12:18):
You would think so, but no, because you know what do they know?
Okay? Okay, okay, allright, let me go again.
Let me go again. Who doAmericans surveyed and trust with their finances?
Do they trust most of their finances? Okay? Friends that they work with?
Man? Trip? Okay, allright, well laid on me.

(12:39):
What is then? Who? Professionalfinancial advisor? There you go. That's
what I mean again, I wouldthink that would be the logical answer,
Trip. Is I trust a guylike you? Well, thank you very
much. I haven't trust a guylike me. I mean with all of
my uh over twenty plus years ofon the job training and certainly provide a

(13:01):
lot of value, bring a lotto the table when we do meet with
people and help them cultivate their fourletter word, their pla N for their
road to retirement. Journey, andthat is something everybody needs. Steve.
We keep talking about it over andover again because it is that important.
You gotta have a plan, folks, to know where you are, where
you're going, and how to howto stay there and be independent and comfortable

(13:24):
too, very important things. Soyou know, we are having a little
bit of fun right now doing thesesurveys. And these are true surveys.
By the way, I might notbe guessing the answer is too good,
but you know, rest assured wedo know what we're doing over here at
Limehouse Financial, and you can findus on the web limehouse financial dot com
or reach us at eight hundred andnine four zero six nine seven nine.

(13:46):
We are planners and we have alot of fun doing what we do helping
you achieve what you want to achieve. So I think we've got one more
we can squeeze in right now,one more top server. I'm doing it
again. I'm on the set,running around like a clap in my hands.
Here we go, all right.This is six hundred and eighty seven
working Americans. They've recently made changesto their retirement plans, and they were

(14:09):
surveyed. The top four answers areon the board, they were asked,
what have you done in the pastyear with your workplace retirement plan? Oh?
I got this one, Okay,put more money in it. Yes,
I believe that's true. Let's see, Yes, that's true. All

(14:31):
right, there you go. NowI got the whole bell. So again,
that's don't give me a part ofthe bell. Thirty seven percent increase
the amount contributed. That seems likea pretty low number all things considered.
Trip, what do you think?What do you suppose that is that that
it was only thirty seven percent?So they put more money in. Well,
I think that people are, youknow, becoming more aware that they've

(14:54):
got to really press into the factthat if they are going to be successful,
you know, it's going to beup to them. I mean,
if it is to be it isup to me, right, I mean
that kind of a kind of athought process, folks. I mean that's
reality. If we're not saving,if we're not accumulating, then we are

(15:16):
not going to be able to distribute. I mean, bottom line, and
what is retirement. It's just onebig distribution plan. So guess what,
good news. You're in the rightplace. Although I may not have done
quite as good as um I thoughtit would have done on the you know,
on this show to day as faras survey says, you know,

(15:37):
we this is this is real,This stuff is real to people. Well,
but the thing is, it's notthat you weren't wrong with any of
your answers. It was just wasn'tthe top one. And that's what we're
looking for. But again that said, I think you kind of nailed it
across the board because you knew allof the right answers, just a matter
of putting them in the right order, putting it in the right order.
Well, let me let me justshare this with our listening audience out there.

(15:58):
You know, here's here's what I'mwhat I'm picking up on consistently,
Okay, when people come to seeus, people are not being heard.
Okay, when they're out there speakingwith other planner advisors, brokers or agents,

(16:18):
they're not being heard. And alsowhen they're being talked too, they're
being talked over. Okay. Inother words, you know, somebody out
there who is trying to attempt tohelp a person plan may not be doing
it in the best way possible forthat person sitting across with them, because

(16:42):
they're not listening to them and they'rereally not giving them what they need.
So I mean, I'm just thinkingof an example. John Jonathan O'Reilly my
investment advisor, and I saw somebodyrecently and they just told us that They're
like, this is great, thisis refreshing for us. It's like a
cool drink of water on a hotsummer day. Uh. You know,

(17:03):
you're listening to what we're saying,and you're speaking with us as you know,
we can understand it like we're friendsjust kind of you know, hanging
out together, but what we're talkingabout is very serious. So it was
pretty nice to hear them, youknow, say that, and it took
it as a high compliment and focus. That's what we do here at Limehouse
Financial. We're focused on you asa person. Of course, the money

(17:27):
is important and all of your concernsare important. But you know what,
um Rest assured that when you meetwith us, which we encourage you to
do, no cost, no obligationeight hundred nine four zero six nine seven
nine. When you meet with us, you know we're gonna hear you out.
We're gonna we're gonna want to understandexactly where you are, and we

(17:48):
might do a little bit of whatwe did today. Um, kind of
like a game show. I don'tknow if I'll have any big rewards for
you or not, other than providingyou with a written plan retirement that will
show you how to be successful movingforward, you know. I mean,
it's just what we do. Weget to know you and we help you
as best we can, and wedo it in a fiduciary capacity, so

(18:12):
we do it only recommending things thatare in your best interest. And by
the way, we're independent over hereat Limehouse Financial, so we're not linked
tight or obligating anyone particular product,company, strategy, etc. You know.
But folks, retirement is about youas a person, it really is.
And you know, we're people people. We like to help the people

(18:34):
that sit down with us, andwe hope you're the next one. So
speaking of that, that is theoffer right now, come on in to
see us at Limehouse Financial. Thisoffers for the next fifteen dollars in the
next fifteen minutes, and it's calledthe get retired Fast plan. Okay,
get retired fast plan, And forsome of you that's the top party and

(18:56):
it should be right now, verycomprehensive end plan that I'm offering you right
now eight hundred nine four zero sixnine seven nine. Sounds great. Trip
again, give us a call.You're going to get that comprehensive financial review
the trip just talked about. You'regoing to see where you are to day.
But more importantly, it does getyou on the road to retirement with
your own roadmap. Eight hundred ninefour zero six nine seven nine. Eight

(19:18):
hundred nine four zero sixty nine seventynine Quick break. We're coming back lots
more here on the road to retirement. The Trip Limehouse. Getting the right
retirement strategy suited to your unique needsand desires is called hitting the bulls eye.
You can say I nailed it.You actually should say we nailed it

(19:40):
because there's a firm right there withyou putting together the pieces of your own
retirement puzzle. It's a bulls eyeplan for you 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 six nine seven nine. We've made
it easy for you to take advantageof this fantastic offer. All you have

(20:02):
to do is caller text Trip toeight hundred nine four zero sixty nine seven
nine. Folks, welcome back.We are cruising down the road today on
the Road to Retirement Show, havinglots of fun. And if you did
miss those first two segments, wetook a play of what's the name of
that game show Steve Family Feud,on Financial Feud, Family Financial Feud,

(20:25):
and we had a little fun withit with surveys things that are really important
to you and go back and listento that. I would encourage you to.
You can do that on Apple,iHeartRadio, Google, Spotify. The
Road to Retirement Show is what youwould look for. And as I'm thinking
about that, it makes me Iwant to remind you real quick to watch
us on TV every Saturday morning,Channel ten. That's wis six thirty am

(20:49):
The Road to Retirement TV Show.So you know what, you probably got
a four oh one k and that'sa good thing. And when we come
back, we're gonna dig into whyhaving a roth could complement it all right.
I like the idea, folks hereIt is the Road to Retirement with
Trip Limehouse. Trip has been helpingfolks for more than twenty years, getting
too and through retirement. Part ofthe way he gets us there is with

(21:11):
that green line principle. Trip willtalk about that before the show is over.
Right now, though, we aregoing to get right back into it.
I like what you're talking about here, Trip, You've got the four
oh one K, maybe you've gotthe FROTH four oh one K option or
maybe not, but maybe you've justwant to open a ROTH? Is now
the time? And does it makesense? That's what we're going to get
into with Trip right here today.Let's break it down. Let's see if

(21:33):
it does make sense. Well,I mean, if folks already are saving
in a four one K, aWROTH could potentially seem like an unnecessary edition.
Okay, but folks, here's adeal. You might be surprised to
learn four roth Ira features that willimprove your financial flexibility. And I think,

(22:00):
after all of my years of workingwith folks just like you again,
this is over twenty years of onthe job training, I've learned that flexibility
during retirement is a pretty darn importantthing to have. So, you know,
let's just talk about it real quick. I mean, how about the
flexibility to access your contributions in apinch if you will. That's a pretty

(22:23):
big deal. Okay, how doesthat work? Well, I mean,
here's the deal. A lesser knownfact about roth iras is that a person
can withdraw their contributions at any timewithout taxes or penalties. And the reason
behind this is because a ROTH whatshould contribute to it. It's not tax

(22:44):
deductible, so the IRS is notgoing to impose a restriction on that rath.
So actually, the cool thing isa person, you know, I
mean, they can take the moneyout tax free. I mean I tax
free, tax free, text free. You can't beat that. Now,
you can still get hit with anearly withdraw penalty on a RATH, but

(23:06):
that's only if you pull out theearnings, not the principle. So you
know, I would follow all thatup with saying that reaching into your rath
early is never ideal, but itcould be the solution that keeps the rest
of your retirement plan intact moving forward. So we're again again, we're talking
about flexibility and maybe how you canhave more of it as your approaching retirement.

(23:32):
As you're in retirement. One eighthundred and nine four zero six nine
seven nine is our number. LimehouseFinancial dot com is where you find us
on the web, and I've gotgreat news. You will find us on
Saturday, May the twenty seventh atnine thirty am at the Chamber of Commerce
in Lexington for a breakfast event onsocial security and income planning. Folks,

(23:55):
if you'd like to attend that,I would love to have you there.
Just let me know that you're gonnacome, okay, because I need to
have enough food for everybody. I'vegot plenty of information for those that attend.
This is a no cost, noobligation workshop on social security and income
planning Saturday, May the twenty seventh, nine thirty am at the Chamber of
Commerce in Lexington. Breakfast will beserved. So getting back to flexibility.

(24:21):
I like flexibility, how about you? Oh yeah, As a matter of
fact, it is one of thethings I'm working on. Uh. You
know, after I had a heartattack, they got me on a regiment
of exercise, which you know,of course makes sense, and sure I
knew pretty pretty good with that.By the way, I had Linda call
in recently and she said, Trip, I've been listening listening to you forever,
and you haven't talked too much abouthow you've been doing, like with

(24:44):
your health and this and that.So she was just kind of checking in
with me and so I shared withher that I'm doing really well, and
it meant a lot to me thatshe called in. Um, you know,
we've got a lot of long timelisteners on the show. Hello to
all you guys out there, andthanks for tuning in again. And if
you're new to the show, boy, you were in the right place,
because this is all things retirement,folks. We are helping you with matters

(25:07):
related to taxation, lifetime income planning, safety of your money, social security.
We talk about legislative changes that youneed to be aware of, and
really overall, what I'd say is, um, you know, you need
to come see us because we canhelp you all. Right now, getting
back into flexibility, tax free withdrawalsis a pretty good, pretty good thing,

(25:30):
I think. Man. Yeah,well and again, yeah, you
know, the more money that youcan put in that rath and have that
money, you know, come outtax free, that's going to have zero
impact on your social security, whichagain that is a part of a plan.
That's part of a strategy, isn'tit part of the four letter word
the PLA N which needs and that'swhat we do here. We build those

(25:52):
for you. So having a rawIRA does not affect the taxability of your
Social Security income. That's that's that'samount. You need to understand that because
the IRS taxes between zero and eightyfive percent of your Social Security benefit,
and where you fall in that rangedepends on what's called your provisional income for
the year. The way that's calculatedis provisional income is half your Social Security

(26:15):
benefits plus other income including taxable retirementdistribution, wages, interest dividends, and
capital gains. But here's the kicker. You need to understand. ROTH distributions
are not considered in the provisional incomeformula because they're not taxable. Okay,
so safe enough to a WROTH andyou could use that tax free income to

(26:38):
keep her greater share of your SocialSecurity benefit. I like that idea.
And one more quick fact that wouldprovide you with flexibility is that you don't
have to take a required minimum distribution. Okay, now yeah, yeah,
really, on a traditional IRA,you've got to take at a certain age,

(27:00):
which currently is seventy three, goingto be pushed out into seventy five,
you are going to have to takemoney out of that part of your
retirement, even if you don't wantto. So folks, you know what
we do here at Limehouse Financial iswe build plans for you, and we
do it with you at the forefront. Okay. We of course take your
money into consideration, we take whereyou are now, where you want to

(27:22):
go, into consideration, but wereally just spend time getting to know you,
okay, And I'd like to dojust that for someone listening right now,
If you would like to spend sometime with us here at at Limehouse
Financial, get to know us andallow us to get to know you so
that you can be better as timegoes by for retirement, give me a

(27:45):
call right now eight hundred and ninefour zero six nine seventy nine, and
just ask me for that four letterword tim and we'll give it to you.
Sounds great, Trip eight hundred ninefour zero six nine seven nine.
That's how you make the phone call. It's all it takes. You get
yourself a spot on the calendar withTrip and the team. It's a financial
review that shows you where you aretoday. But what's more important is yes,

(28:07):
you will have that roadmap to helpguide you, to help get you
to where you need to be whenit comes to retirement. Eight hundred nine
four zero six nine seven nine eighthundred and nine four zero six nine seven
nine. We've got another break totake, but we're coming back. We'll
got a lot more to talk abouthere. On the road to retirement with
Trip Limehouse, if you are fiveto ten years from retirement, it's important

(28:29):
to carefully review and adjust your financialplan to make sure a smooth transition happens.
When we come back, we've gotsome advice and some considerations for individuals
in this stage of their retirement planto stick around right now. It takes

(28:57):
courage to face up to things likeholatile markets and Wall Street money traps.
If you're unsure, worried, orlosing sleep about your money, do something
about it. Called Trip Limehouse,host of Road to Retirement eight hundred nine
four zero six nine seven nine,or text Trip tripp to eight hundred nine
four zero to six nine seven nine. We've made it easy for you to

(29:18):
take advantage of this fantastic offer.All you have to do is call or
text Trip to eight hundred nine fourzero six nine seven nine and welcome back
everybody. This is the road toretirement with Trip Limehouse. We are cruising
along today. Trip is guiding us, coaching us along every step of the
way, we're avoiding the detours,we're avoiding the construction zones, and we

(29:41):
are getting to retirement and this iscertainly a great topic to sort of dig
into this and again with that fiveto ten years, that financial red zone,
we like to say trip that reallyis an important time. And for
me, you know, you thinkabout you know, around fifty years old
is a great time to really beginto to buckle down and get this retirement

(30:02):
plan going. Yeah, I think, I mean, I don't think there's
a magic like age or number ortime. I just think do it right.
I mean, but we are inthis segment talking about people that may
be a little bit further out.I mean, you know, we see
and help all people. I mean, we've got clients that are, you
know, just getting started in theircareer. We've got clients that are in

(30:25):
a second career. We've got clientsthat are exiting their career and now they're
ready to retire like yesterday. Youknow. But you know, folks,
if you are a little ways out, I just want you to pay close
attention because we're going to talk aboutsome really important I don't know, things
that you just need to be Likeat the forefront to make sure that you

(30:47):
are you know, headed in theright direction. And quite frankly, I'd
say it all the time on thisshow. I mean, we're here at
Limehouse Financial and by the way,our number is eight hundred nine four zero
six nine seven nine, and wecan be reached on the web at limehouse
financial dot com. But we arehere to make sure that you avoid the

(31:07):
wrong turns that could potentially lead youto a dead end on the road to
retirement journey. There's gonna be speedbumps, there's gonna be detours. I
get it. I think that's justcalled life. So speak of to speed
bumps and detours, I think onthe road to retirement journey. So you
guys that are maybe a couple ofyears out, whether it's two or five
or ten years out from retirement,let's put this, you know, let's

(31:32):
just let you know, hey,other people have done this, and they've
avoided these detours and speed bumps.You know. Buy just some practical things,
one of which is just currently toassess your retirement savings, a novel
concept on Steve. Yes, absolutely, and you know again assessing or savings
certainly, and one way to dothat, of course, is to work

(31:53):
with somebody like you Trip you know, independent, you know you and Jonathan
Fiduciary organization. Um, you've gota lot of experience. Those are the
things that you'll look for. Andreally why, you know was one of
the was the answers to one ofthe questions about trusting an advisor. That
was the number one answer. Thatwas the number one like who do you?

(32:14):
Who do you account one? Whodo you trust an advisor? Right?
Well, you know, we wewe like to focus on the relationship
aspect working with you guys out there. Um, you know, I mean
occasionally someone walks through and says,hey, I got this money and I
want to do something with it.Can you help me? And then we
just do a transaction. But youknow, in general, UM, we

(32:36):
are relationship driven and part of thatrelationship is helping you to look at your
current savings. You know, maybeyou're wondering do you have enough? Is
it enough? Are you saving itin the right place? Um? How
long will it last? Um?We gotta review your retirement savings, including
your four one case, your irasand other investment accounts. We have to

(33:00):
determine that you already have saved enoughand that you're going to continue to save
enough to meet your retirement income needs. Notice I say income needs because quite
frankly, folks, your income duringretirement is going to determine your outcome during
retirement. So you know, Imean, for those of you out there

(33:22):
listening right now, I want youto remind yourself of how important you are
to yourself. And with that said, something that you really have earned and
deserve is a plan. I findover and over again that most people do
not have a written plan for retirement. And you know, that's one of

(33:45):
the many things that we do hereat Limehouse Financial is provide those for you.
So come on in and see USeight hundred and nine four zero six
nine seventy nine. Myself or myinvestment advisor, Jonathan O'Reilly will be happy
to sit out with you and helpyou assess your retirement savings. Another thing
that we can do, and thisis going to be key, is really

(34:07):
help you develop that retirement budget.Steve, I think a lot of people
kind of overlook this. Yeah,absolutely they do. And why do you
suppose that is? I think it'stough. I think it's tough on people
to cut to I think I thinkwhen you start talking about budget, you
start thinking about, you know,like a restraint of some sort. But

(34:28):
here here's reality and creating a comprehensiveretirement budget, folks. That's going to
outline your expected expenses and your incomeduring retirement. So we need to consider
a lot of factors, one ofwhich is housing, another is going to
be healthcare. Then there's gonna bethese things we call lifestyle goals, that'd

(34:52):
be travel, leisure, and thenthere's things such as inflation and tack sation
that we need to consider. SoI guess you know, even though it's
not a fun exercise necessarily and itcan be tough, realistically, having a

(35:12):
budget is going to help you betterunderstand your needs for the upcoming years and
it's also going to enable you tomake really good decisions moving forward. So
you know, that is a commonquestion we ask when folks sit down with
us, is you know, like, what do you what do you need
during retirement? But then in additionto that, what do you want during

(35:37):
retirement? Now we've got to makesure that we can get you what you
need so you can maintain. Butum, it's a whole lot of fun
when we start talking about developing thatretirement budget to get you what you want
during those years where you're not workinganymore. I mean, you know you're
folks. You're either right there andready to exit onto this journey going to

(36:00):
this new destination called retirement, oryou know you're a couple of years out,
five years, ten years out.But the sooner that we start doing
these things, the better, themore independent that you're going to be.
Imagined this imagine this, you beingin control of your retirement. How appealing
does that sound to you? Guyslistening right now? I know that everybody

(36:23):
out there desires two things, independenceand control. And guess what we can
show you how to achieve both ofthose during retirement. All we need to
do is just sit down, getto know you, and then show you
the type of work that we dohere at Live House Financial. So gotta
mention. We got a workshop comingup, Steve. You know these live

(36:43):
events, we love them. Thisis a great one. We're doing a
social security and an income planning workshopand we're actually serving breakfast. This is
a no cost, no obligation eventand we're holding it on Saturday, May
the twenty. I haven't At ninethirty am at the Chamber of Commerce in

(37:04):
Lexington. Folks, if you wouldlike to attend a no cost, no
obligation social Security and Income Planning workshopwhere we will serve you breakfast and a
whole lot of information, give mea call right now. Eight hundred nine
four zero six nine seven nine.This is something that you need to reserve
for because I want to make surewe have adequate food for everybody. Okay.

(37:28):
Again, that's Saturday, May thetwenty seventh at nine thirty am at
the Chamber of Commerce in Lexington,Breakfast workshop on Social Security and Income Planning.
Eight hundred nine four zero six nineseventy nine. I think that all
of the things that we're talking aboutdo pertain to those that are closer to
retirement as well. I'm going totalk just for a moment on reviewing and

(37:51):
optimizing your investment portfolio. And that'sa hot topic right now, isn't it.
It is a very hot topic rightnow. And again that's the kind
of thing where you as an advisor, you're on top of it, You
understand and you can relate to thingsthat a lot of us are aren't really
familiar with. But that's what youdo well. I mean, yeah,

(38:12):
and I thank you for that compliment, by the way. But you know,
one of the things with Jonathan O'Reilly, my investment advisor here, I
mean, he has a passion forpeople's investments and their portfolios. Not only
that, but he has a passionfor making sure that where they are is
where they should be. So Imean, it's a really fantastic time to

(38:34):
do just that review and optimize yourinvestment portfolio. Folks. You got to
evaluate your portfolio. You got tomake sure it's doing what you wanted to
do, that it's aligning with yourgoals and also your risk tolerance. Some
things that consider might be diversifying theinvestments to manage risk a little bit better
and maybe potentially increase your investment returns. Though overall, it's just important to

(39:00):
strike a balance between risk and reward. That's all yours, okay, That
that that aligns with your retirement timelineand your financial goals. So you know,
um, I'm just thinking of aKatie. She came in recently and
she thought her investment strategy and herportfolio were doing very well. Jonathan and

(39:21):
I did the portfolio observation report forKatie and determined that she had a sector
overweight. She was just really heavyinto the healthcare sector. I don't know
why that was just how her portfoliowas structured, but um, you know,
we said, hey, look,healthcare isn't bad, but um,
you got way too much in it, and we really want to address that

(39:44):
and come up with a plan foryou that's going to be a more balanced
approach. And another thing, Steve, So we were able to do that
for Katie, and folks, wecan do that for you right now too.
If you'd like a second opinion onyour portfolio, give us a call.
Eight hundred and nine four zero sixnine seventy nine. This is a
non biased, independent report that werun for you. It identifies the costs

(40:08):
associated with your portfolio, the performanceWe put on an under a stress test
to see what would happen if themarket just went south. I mean,
all kinds of things, but youneed this in your hands to know that
you're on the right track and apositive thing that occurs too. Sometimes we'll
just say, hey, you knowwhat you're doing good with your current investment
portfolio. You don't need to changeanything. And that's that pleases us to

(40:32):
tell you that, and it's veryrefreshing for you to hear that, but
it is a great time right nowwith the way the market has been to
just make sure that your portfolio isdoing what you wanted to do. So
ask us for that second opinion onyour investment portfolio. We've been running through
some things that are really going toensure a smooth transition into retirement. So

(40:55):
far, we've talked about taking alook at your retirement savings, making sure
they're adequate, that you're saving correctly, and that you're on track to have
the amount that's going to be neededto retire comfortably. We've also talked about
developing a retirement budget in advance ofretiring. And now we just talked about

(41:15):
reviewing your investment portfolio. So I'vegot to bring this up. Of course,
as always, folks, we gotta, you know, look at your
social security claiming strategies, and Steve, this is often overlooked by people.
They just think they're going to justget to a certain age and take their
benefit right. Well, and againthat ultimately can be what it is,

(41:38):
but there has to be a strategythere, don't you think. I think
that's what's lacking for people is havinga social security claiming strategy. I think
for most people, they just seeit as a number, and they see
it as a time when they canget that number. And you know,
I mean, in the simplest form, I would agree with that, But

(42:00):
there's so much other things to consideralong the way, okay, such as
what are your other sources of income? If you did take it earlier or
delay it, how would that affectyour retirement moving forward? Is there other
you moneies that would enable you tomaybe wait to take your Social Security later

(42:22):
or would it be better for youto take your Social Security now and then
let your other moneys grow? Imean, bottom line, understanding the implications
of when you start taking your SocialSecurity benefits is imperative for you. Delaying
your benefits until your full retirement ageor even beyond definitely will give you a
higher benefit. We just got toconsider different claiming strategies, maybe like spousal

(42:45):
benefits or survivor benefits. And bottomline with soci security is we just got
to maximize it. So you know, good news, you're in the right
place. This is what we dohere at Limehouse Financial. We are income
and distribution planning experts and social securityexperts. So um, you know,
just ask me for that social securityroadmap, which, by the way,

(43:06):
we find most people do not havethat. I got to give a shout
out to one of my biggest fans, Alison, Thanks for always listening and
complimenting the show. It's always greatto see you around town and we joke
about the episodes that you've listened toand the things that you're learning. So
thanks for being one of the oneof my biggest fans. And while I'm

(43:28):
on that, I also got togive a shout out to Amy, my
wife, who I love so much. She's the biggest fan. Steve of
course is. Of course she is, and why shouldn't she be. Oh
well, I'm not not even goingto get into that reasons because there's a
couple Yeah, folks, folks,we're having fun here on the Road to
Retirement show, and that's what you'relistening to. I'm trip limehouse. I'm

(43:49):
thankful that we're together. You know, we've been talking about a lot of
things that are relative to you makingthe best of the years to come,
and we're looking forward to doing justthat with you. Give us a call
right now. I mean, myoffer is just for you to come in
sit down with us. Let's getto know you and let's build that four
letter word for you, the PLAN to get you where you want to

(44:13):
go, keep you in control,and keep you independent. Sounds good to
me. Trip folks, make thatcall. Eight hundred nine four zero six
nine seven nine. That's the numberthat'll get you in, get your spot
on the calendar, and a comprehensivefinancial review to boot. Go ahead,
make that call today while you're thinkingof it. Eight hundred nine four zero
six nine seven nine Again eight hundredand nine four zero six nine seven nine.

(44:34):
We need to take another break,but we'll be right back. We've
got another segment to go here onthe road to retire, but with Trip
Limehouse. Time once again for questionsfrom listeners. We appreciate them, we
welcome them. That and much morewhen you come right back. You've worked

(44:54):
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 Nestache or you? Well, of course you want to
relax and travel and enjoy and Nestache. You've got more work to do for
a retirement that maximizes your portfolio,your social security, avoids unnecessary risk,

(45:20):
protects you from pitfalls, and franklylets you retire, and keeps the nestake
working. You need a retirement partner. You need someone looking out for your
best interests and building a plan foryou based on your situation. Called Trip
Limehouse at eight hundred and nine fourzero six nine seven nine, or text
Trip Tripp to eight hundred and ninefour zero six nine seven nine. That's

(45:45):
eight hundred nine four zero six nineseven nine, or text Trip to eight
hundred and nine four zero six nineseven nine and welcome back everybody. This
is the road to retirement, ourfinal segment together. So that means it's
questions from listeners. Trip Limehouse ishere to answer the questions that you have
sent us. Trip has been helpingfolks answering questions about retirement for more than

(46:07):
twenty years. I think he's gota lot of the right answers and so
much more. Hey, Trip ofthis remind everybody one more time of the
big event you've got coming up theend of the month. Oh man,
thanks thanks for reminding me to remindeverybody. I appreciate that. Steve teamwork.
Yeah, we have a live eventcoming up, a social security and
income planning workshop. It's going tobe a breakfast event where we not only

(46:31):
serve you information, but we alsoserve you breakfast, no cost, no
obligation. Saturday, May the twentyseventh, nine thirty am at the Chamber
of Commerce in Lexington. That's Saturday, May the twenty seventh, nine thirty
am at the Chamber of Commerce inLexington. We're gonna feed you and we're

(46:51):
going to serve you up some informationregarding retirement and income planning. If you
want to attend that, folks,it is necessary to give me a call
eight hundred nine four zero six nineseven nine because we want to get your
registered for that and make sure wehave enough food to serve. We've got
plenty of information, but I wantto make sure we have enough food to
serve. You can also check outthe website limehouse Financial dot com. We

(47:15):
always talk about when we have eventsand it's on the calendar or look at
event bright dot com and that's whereit is. So yeah, once again,
another great episode. I was asSteve as you were saying the final
final segment. I just was thinking, this isn't like the final final segment
why my mind went the day thefinal segment of this show, right,

(47:40):
Yeah, I just wanted to Ijust wanted to clarify that I'm not that
anybody who's wondering. But I'm notplanning on going anywhere right now, you
know, just continuing to do whatwe do, having fun, helping people.
We are the planners that you needto be working with. Hey,
give me some questions, all right, Let's start with Felix. He is

(48:00):
checking in from Blythewood. Felix says, I'm sixty four getting to retire in
one year. I owe approximately onehundred and sixty five thousand on my house
with no other debt. I haveclose to eight hundred and fifty thousand in
retirement savings, twenty two hundred dollarsa month from a pension and about twenty
three hundred dollars a month from SocialSecurity, as well as three hundred dollars

(48:21):
a month from my ex wife's pension. Now I also drive uber for approximately
one hundred or fifteen hundred a month. Now does it make sense to pay
off my house at the time Iretire? Why? There's a lot going
on there, Felix, thanks forbeing a listener In the Road Retirement Show,
and great question. You got alot going on there, buddy.
I mean, I think you're doingfantastic in the retirement savings front. I

(48:45):
like that a lot. I gotguaranteed income coming in from a pension and
of course social Security. I'm guessingthat probably you're driving uber because you want
to, not because you have to. You know, you're asking me as
a since to pay off your houseat the time when you do retire.
You know, I think that acceleratinga mortgage could be a good idea.

(49:08):
Oftentimes we'll recommend that versus just payingit off. But the biggest deal for
you is, Look, you've gotthis eight hundred and fifty thousand retirement savings.
We need to map it out foryou. We need to show you
how to make it work over thenext twenty five thirty years if you will.
We need to build you the fourletter word, the P, L,
A N. So come on inand see me and I'll do just

(49:31):
that for you. Also, folks, if you're out there and you're like
Felix and you're kind of wondering,should you pay off your mortgage? Can
you retire? What should you dowith the moneies that you have. How
can you mitigate market risk? Youknow, give me a call eight hundred
nine four zero six nine seven nine. I can help you with this,
all right, Felix, Yeah,give us a call. You heard trip
and let's see you on we go. George is in Winnsboro. George says,

(49:54):
I have a pension that kicks inat fifty seven. I'm fifty five
now. I also have a fourto fifty seven deferred compensation plan I contribute
to. My question is would itbe a good idea to contribute to a
roth ira as well? Having taxfree money later on? Sounds like a
good idea? Oh wait, isa good idea? What are your thought?

(50:15):
It's right, it's a great idea. Tax free is always great,
and it passes to the next generationtax free George, what I would say
is get the match on your fourfifty seven, but no more. In
other words, if they're putting fourpercent in, you put four percent in,
but do not be funding it greaterthan that, and then maybe switch
and put the difference into a rothI think it would benefit you later on

(50:35):
as far as taxes are concerned.And you got a little bit of time,
you know, between now and whenyou probably will retire. But overall,
same answer as I gave to theprevious caller. What you need is
the four letter word, the PLAN and good news, you're in the
right place because this is what wedo here at Limehouse Financial. We are
income and distribution planning experts here tohelp you with over twenty years of experience.

(51:00):
Folks, you need to also askus about the green line principle.
Haven't talked too much about that today, but I got to mention it right
now. That's a safe money strategywhere you cannot lose anything. Zero is
your hero, lots of upside potential, Folks. I know that there's some
of you right now that are wonderingabout what to do with your money in
the market. Should you keep it? There? Is the market going to

(51:22):
determine your direction on the road toretirement. I'm here to tell you that
the green line principle can save yourretirement and put you in control so you
can be independent during retirement. Askme about the green line principles. See
if do we have time for onemore question? We do? Indeed,
dull, let's check in with Eleanorand Gilbert Eleanor says my husband and I
bought a rental property in a resortarea on a short sale back in two

(51:46):
thousand and eight for two hundred thousanddollars. It can sell now for nine
hundred and fifty thousand dollars. Now. My husband's in a sixty sixties he
wants to retire after following Michelle forsome time now, I think we should
sell it and in thus the proceedsinto an annuity so that we can use
the interest to help build up ourretirement fund. Good idea or a bad

(52:07):
idea? Good idea to answer yourquestion, good idea and eleanor I do
want to say thanks for being along time listener. I know we've got
a lot of them out there,and I'm here to talk with you and
your husband and walk you through thisprocess. Maybe some capital gains involved in
this transaction, that's okay. Wecan take the after tax money and we

(52:28):
can use what I was just talkingabout a minute ago, the green line
principle to preserve and protect what youhave worked so hard for, and not
only that, but create guaranteed lifetimeincome that you will never outlive. So
you know, as far as takingthis asset, highly appreciated it and then
turning it into something that can reallybenefit you during retirement. Yeah, that's
a great idea and that's the typeof work we do here at Limehouse Financial

(52:51):
show you just what to do.So thanks for listening and I look forward
to you coming in and us buildingthe four letter word for you the pla
in folks, Thanks for tuning infor another great episode of the Road to
Retirement Show. Thankful to be withyou. Tune in next week for another
fantastic episode. Give us a callright now, Trip eight hundred and nine

(53:13):
four zero six nine seven nine.That's the number that will get you in
and a financial roadmap that can helpget you to where you need to be
when it comes to retirement. It'sa phone call away. Eight hundred nine
four zero sixty nine seventy nine eighthundred nine four zero six nine seven nine.
Trip. Is always a pleasure tobe here and to have these conversations.
I'll love it, E to SteveHey, everybody. Tune in next
week for another great episode in Untilthen, God Buch. Information provided is

(53:42):
for illustrated purposes only and does notconstitute investment, tax or legal advice.
Information has been obtained from sources thatare deemed to be reliable, but their
accuracy and completeness cannot be guaranteed.Either 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