Road to Retirement 05-20-2023

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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 been obtainedfrom sources that are deemed to be reliable,
but their accuracy and completeness cannot beguaranteed. Neither Trip Limehouse nor his
guests are liable for the usage ofinformation discussed. Always consultable the qualified investment,
legal or tax professional before taking anyaction. You know the old saying,

(00:21):
happy wife, happy life, wellretirement planning. There's certainly no exceptions
to that rule. Welcome in everybody. This is the road to retirement with
Trip Limehouse. I'm consumer advocate.Steep said, Ah, then when we
come back, we've got some greattips for you and your spouse so that
you can both slide into retirement beinghappy. What do you think, Trip,
I think that's a key thing tomoving forward on that road to retirement.

(00:43):
Folks, you are in the rightplace listening to the Road to Retirement
show with Limehouse Financial stick Around.This is going to be a fun segment
talking about how do you make itwork as a married couple moving forward towards
your dream of retirement. Do youwant to avoid taking a wrong turn or
your retirement road. The road toretirement is a long one and if you

(01:07):
just don't want to make wrong wells, buckle up. We're getting ready to
take a retirement road trip together.It's the road to retirement with Trip Limehouse.
It's the perfect dimemount to map itout. That road to retirement is
key, is key to get onthe road to financial security and independence.
Just like many of Trips Happy clientsin retirement partner, my money is safe

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using the green lime principle that youtaught me about. Thank you so much.
Let's get this trip started. It'sthe road to retirement with Trip Limehouse.
Everybody welcome in. This is theroad to retirement with Trip Limehouse.
On trip of course, the guybehind the green Line principle will talk about

(01:51):
that trips up and helping folks getto and through retirement from more than twenty
years. Check him out at LimehouseFinancial. That's limehouse Financial dot com for
the website. That's where he youcan learn more about he and his financial
advisor, Jonathan O'Riley hike trip.How are you awesome? Boy? I
tell you what, it is justa great day to be alive and we

(02:13):
are doing this thing with you guysout there called the road to retirement journey
and having a lot of fun,needless to say, So this is a
great topic, okay. And mfolks, even if you're not married,
I want you to hang around becausea lot of this stuff is going to
be applicable for you as well.But yeah, that's saying happy wife,
happy life. Um. I meanAmy and I have been together twenty eight

(02:38):
years and married twenty five and uh, I definitely find that to be true.
So I mean, I, youknow, try to function in that
arena for the most part. Um, and I will say, you know,
sometimes not there, but it's awork of progress right to related to
planning. Okay. So you know, we're talking about two people that are

(03:01):
coming into an environment here at Limehouse, a financial and um, you know,
for a first time. They're they'resitting down with me Trip Limehouse and
my advisor, Jonathan O'Reilly, andwe're just simply getting to know them.
Now. One of the things westress here is that retirement, Steve is

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um, it's about more than themoney. It's about the person. So
we really laser focus, okay onthe people now. In doing that,
we as you can imagine, weencounter a lot of scenarios with husband,
wife and um and and and we'repicking up on this energy, um where

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maybe there there's a lot of lovethere between the two, but um,
what's lacking is maybe this communication thing. Okay, So do you remember the
three things to avoid and polite conversation? Money, politics, and religion?
Just like that. Yeah, it'sso true. Well, so when it
comes to the relationship discussing finances,you know, and you consider your spouse,

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it's kind of a whole other storyreally. I mean, communication is
going to be the key between twopeople to find that financial security and peace
of mind, also just the freedomand retirement that they're looking for. So
and of course we want to avoid, you know, conflict as we're entering

(04:30):
into discussion with folks. So,I mean, there's some topics that we've
seen that do spark disagreements among folksthat come into our office here at Limehouse
Financial. And by the way,folks, you can reach us on the
web at limehouse Financial dot com.Eight hundred nine four zero six nine seven
nine is our phone number. Ido want to let y'all know that we
are having a live event on Maythe twenty seventh, Saturday, May the

(04:53):
twenty seventh. That's going to bea breakfast We're going to serve nine thirty
am at the Chamber of Commerce andLexing. It's a social Security and income
planning workshop. Speaking of couples,a great thing to do. Bring your
spouse to this breakfast provided informational sessionthat will be life changing for you.
Again. Saturday, Made the twentyseventh, nine thirty am at the Chamber

(05:15):
of Commerce in Lexington. I'll haveex Benedict. Thanks. Yeah, Social
Security Income Planning workshop ordered up Steveordered up. Folks, if you want
to come to that, let meknow because I have to make sure I
provide enough food for you. Eighthundred nine four zero six nine seven nine
is the number to reserve for that. So going back into what do we
see? Okay, Like we takea look at a lot of surveys on

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the show, don't we, Yes, we do. But I mean they're
good because they're all related to peopleretiring and getting through it and trying to
tackle some of the same issues thatpeople are dealing with. The Hopefully we
can you know, smooth things outa little bit or at least help smooth
things out. That's right, Andwell, on the top of the list.
What we find is money is,you know, like the thing that

(06:00):
will spark a disagreement. As amatter of fact, I'm thinking of a
couple that came in a couple ofyears back and Jonathan I were just talking
with them and these two just kindof in front of us, and I,
you know, I appreciated this becausewe're like, no, we're not
smoking mirrors here at Limehouse Financial.We get real with you. Okay,
this couple just went back and forthlike a cat and a dog. Man.

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I'm telling you, they were goingabout when are we going to retire
and how much money are we gonnahave? I mean, it was just
like a rare you know. AndJonathan I just Jonathan I just sat back
and we observed it, you know. And then the funny thing is,
because I guess they were expecting usto jump in, we didn't do that,
right. We just listened to whatthey're saying, because that's what we

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do. We listen to you folkshere at Limehouse Financial. We listen to
what you say, and we buildplans based upon what you tell us you
would like to have all of thatwith the professional recommendation from a fiduciary capacity.
What more could you ask for?Right now? Eight hundred and nine
four zero six nine seven nine,call me and ask me for that.
I'll do it just for you,just like I did this couple. But

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you know, so we sat backand we're just listening to them, and
then we responded. They were theyhad a couple of biases about some things,
and we needed to clear that up, right. We needed to tell
them from a fact based perspective,what YouTube just said is incorrect. It's
not accurate. And by the way, we're not afraid to do that here
either, Steve. I find thata lot of people come to see us
and they tell us they've been somewhereand somebody really just hasn't told them the

(07:26):
truth. You know, imagine that, right, So they say, it's
refreshing to sit with you, tripbecause you're gonna tell us. We know
you're gonna tell us how it is. Well, anyway, so we cleared
up a couple of biases with thiscouple, and then you know, we
said, hey, we can helpyou, and the end of the story.
Fast forwarding several appointments later, theirclients of Limehouse Financial and now they

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have the four letter word the PLAN and that's getting them what they need
and getting them where they want togo. And they both have a clear
picture. And guess what we didn'tsolve all of the world's problem was working
with that particular couple. However,what we did do is clear a lot
of the misconceptions up, took themoff the table, and we cultivated a
plan that they were after to obtaintheir goals and uh and it did relieve

(08:13):
a lot of I believe, stressand anxiety from that particular couple. They
were very, very thankful to beworking with us, and we appreciated their
business. By the way, toall my current clients out there, you
guys are awesome. Appreciate you doingbusiness with Limehouse Financial and being part of
the Limehouse Financial family. Good newsis for anybody listening, if you're trying
to figure out what to do,where to go, how to get there,

(08:35):
you're in the right place because thisis what we do. Check us
out at limehouse Financial dot com.Again, that's a Limehouse Financial dot com
and our phone number is eight hundredand nine four zero six nine seven nine.
So on that survey we were talkingabout a minute ago, Steve real
quick sixteen percent of couple surveyed feltlike they were financially compatible with their spouse.

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Twenty seven percent of marriy couples argueone it's a month about money.
Twenty two percent of married individuals arguedmostly about their budget. Thirty five percent
of disagreements between couples are related tofears about market risk in the economy more
often than personal spending, and twentynine percent of couples disagree about whether to
spend today or say for tomorrow.Folks, we're having a lot of fun

(09:18):
talking about how do you move forwardwith your spouse in a successful manner on
the road or timer journey. Here'sthe offer right now, give me a
call and just say i'd like thatfour letter word you talk about trip the
pla N. It's gonna show youhow to get to where you want to
go, stay there, be confident, successful and comfortable in retirement. And

(09:39):
again, folks, give us acall. It's eight hundred nine four zero
six nine seven nine. That's thenumber. It's a chance for you to
get a financial roadmap put together,get you on the road to retirement.
Eight hundred nine four zero six nineseven nine, eight hundred nine four zero
six nine seven nine. Quick break. We're coming back lots more here on
the road to retirement with Trip Limehouse. Do you ever feel like you were

(10:05):
fighting for financial knowledge? Don't letbad advice be a punch in the gut
changer a retirement. Take advantage ofa complimentary and no cost, no obligation
consultation with a local, trusted financialcoach called Trip Limehouse at eight hundred and
nine four zero six nine seven nine, or text Trip tripp to eight hundred

(10:26):
and nine four zero six nine sevennine. That's eight hundred and nine four
zero six nine seven nine, ortext Trip to eight hundred and nine four
zero six nine seven nine. Hey, we are back on the road to
retirement with Trip Limehouse, cruising downthe road today. Of course, the
Trip has been helping folks do justthat for board than twenty years. Limehouse

(10:46):
Financial courses where you'll find them.We're talking about couples and how they see
finances differently, and Trip you seethis every day, You experience it every
day. And again. There wasan Accenture survey on couples in finances.
Fifty one percent of couples already viewtheir current advisor as a life coach.
Do you think of yourself like thattrip? Are you a life coach to

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folks? A life coach? Hey, that's quite a compliment and we do
receive that often. Now maybe peoplemight not use those words life coach.
But here's the deal. When theycome back and we have brought them on
this clients and we are implementing thefour letter word the PLA N, what
we do see occur is it's quitephenomenal. It's a difference in the demeanor

(11:30):
of the couple. It's a differencein how they're now discussing things moving forward.
And that's what it becomes, Steve. It becomes more of a discussion
where previously, before coming in andbecome a client of a Limehouse financial,
it may have been really a sourtalking point, if you will, Like

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Weird mentioned earlier money, politics andwhat was the third one religion? Religion?
Right, Yeah, you know,so now we've you know, we've
really kind of clear the air forfolks and um at that point in time,
you know, we do quite frankly, uh have people just make a
comment like like you know, likethis survey we just mentioned, uh alluded

(12:13):
to um, you know, andit may just be a simple like a
very uh nice smile, or itmay be words or both um and uh.
But the message is clear. Themessage is loud and clear to those
folks that we were helping. Andwhat folks, what are we helping them
do is we were building a plain a plan for them to get them

(12:33):
where they want to go, helpthem stay there, make sure that they're
confident, that they're in control andthat they're independent during retirement. That's the
type of plans we build here atLimehouse Financial, and um, you know
they're they're getting a lot from it. So what I see, you know,
I mean that survey at least forLimehouse Financial is one hundred percent accurate.

(12:56):
Um, you know, all ofour clients kind of view as working
in that capacity. I will Iwill bring this up. I do think
that because of the nature of howwe work with people here at Limehouse Financial,
a continuous thing happens. We're findingthat people are really interested in the

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relationship, even more so than youknow, Hey, where do I put
my money? What fun do Iuse? What you know? What do
I do about taxes? That kindof stuff? What what people are really
interested in is the relationship. SoI circle that back to couples. I
mean, if you're married, that'swhat you're into. You're into the relationship,
you know, just like I amwith my best friend, the love

(13:43):
of my life, Amy. Hello, honey, I love you so much,
thanks for all you do and youmean the world to me. You
know, I mean that my relationshipwith Amy is very important. So we
we do talk about things, buteven at times, you know, we
kind of need that third party tomaybe listen and hear what I'm saying,
and you know, hear what she'ssaying, and then you know, okay,

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guys, hey, let me giveyou my thoughts on this. Let's
come up with a plan for this. I mean, I think I think
that in general, successful people becomemore successful by listening to the creative ideas
of other people. So, youknow, when you do involve us in
your planning process, folks, Imean, the results that you're going to
get are probably way more than youever anticipated, because in general, people

(14:26):
think about working with an advisor onlyjust having to do with their money.
Well, you know, we welcomepeople as you know, part of the
Limehouse financial family, and they tellus that's exactly how they feel. It
all starts with an appointment here atour office. If you'd like one today,
give me a call. Eight hundrednine four zero six nine seven nine.

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You are listening to the Road toRetirement show with Limehouse Financial. I
am trip Limehouse happy to be withyou. Guys. What do we do
well? We plan, we planfor you and this survey though, Steve
Um, I mean, it isa big deal here. Here's what I
think. It's essential for both peopleto meet with us when they are preparing
for retirement. Okay, because therelationship is uh, there's there's long lasting

(15:13):
things that we're doing and it's aprocess, so so very rarely will we
just see half of a half ofa of a the whole, you know
what I mean? Because I wantto I want to meet with uh,
you know, the spouse and heartheir thoughts on this and you know what,
Hey, I want to bring thisup sometimes in our conference room here

(15:37):
at Limehouse Financial. The first timethat a spouse will hear another spouse say
something could occur because what happens isthe spouse who hasn't necessarily verbalized how they
feel about money retirement goals Um whenthey want to retire, their dream for
retirement whatever it could be any ofthat or all of that. Right,
they haven't really verbalized it, butthey come here and sit with us and

(15:58):
that hers and that's a really coolphenomenon. And the spouse has never heard
it. It's like, whoh wow, I'm glad you're sharing that. You
know, so um, you know, I mean, so we're what are
we doing right? Well, we'retalking about preparing for retirement. That's a
big deal right there. What Ijust mentioned, what just occur, What
occurred with that couple I saw lastweek, you know, things coming out
and being talked about. So weSo basically, Limehouse Financial can facilitate,

(16:23):
if you will steve the more challengingtopics. And I don't know a good
way to say this, maybe likeopen up the conversation. And there's purpose
in that. It's really to calmthe tension that may be happening with the
couple and offer a solution for thatcouple that's going to maintain, you know,
a proactive and positive dialogue. It'sgoing to cause that dialogue to happen

(16:45):
with that couple because they can leavehere, right and they can say we've
got that four letter word. Tripalways talks about we've got the PLA N
and and that's great. By theway, I want to thank Brenda and
Dennis because they became science recently andthey said exactly what I just told you.
You know, now we've got thefour letter word that you talk about.
And they went and told like fourof their friends who you know,

(17:10):
have called and asked for an appointmentto come see because they want the four
letter where they I mean, it'sso funny people call me up, hey,
trip I like the four letter word. That's really cool. Brea,
Yeah, Brenda's friend called me atrip um. You know, friends of
Brenda and Brenda told me they weregonna call me, you know. So
anyway, it's pretty neat though,But um, so topics couples should be

(17:30):
discussing with me when they're planning forretirement. Here, just a quick rundown
on that, right, Um,let's just start talking about it in general.
Let's just get that conversation going,folks. Bottom line, it's just
really important that you start talking aboutthis stuff, that you come up with
the four letter word, and wecan help you with that PLA in for

(17:52):
your road to retirement journey. We'vebeen doing it for over twenty years.
I want to let everybody know thatif you call in right now, this
is exact actually what we'll do foryou. Okay, And this is for
the next ten callers in the nextten minutes. And even if you're you
know we've been talking about marriage andrelationship, even if you're single, this
stuff still applies. We need tofacilitate a conversation to get you where you
want to go and keep you thereand help you to be successful. Okay,

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So call in right now, andthe same as the last segment,
the most important thing, the fourletter word, the PLA N. I
want to show you how to getit and how to obtain your goals.
Eight hundred nine four zero six nineseven nine. You're going to be able
to get that comprehensive financial review.You'll see where you are today. But
what's important is you're gonna find younow have a roadmap to get you on
your unique road to retirement. That'sa trip can do for you. Eight

(18:37):
hundred and nine four zero six nineseven nine, eight hundred nine four zero
sixty nine seventy nine. When wecome back, it's time to get to
the basics. We're gonna break downsome steps you can take now to help
you on that road to retirement journey. Getting the right retirement strategy suited to

(18:59):
your unique needs and desires is calledhitting the bull's eye. You can say
I nailed it. You actually shouldsay we nailed it, because there's a
firm right there with you putting togetherthe pieces of your own retirement puzzle.
It's a bull's eye plan for you. We called Trip Limehouse, host of
Road to Retirement eight hundred nine fourzero six nine seventy nine, or text

(19:22):
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
to do is caller text Trip toeight hundred nine four zero six nine seven
nine. Funny money or not sofunny money. This time we're talking about

(19:42):
funny money. Two stories here,one of a con man, the other
of an honest man. In nineteennineteen, the common story goes JD.
McMahon of Philadelphia, oil man andpromoter swindled investors after making them believe he
would build a four hundred eighty foothigh rise office building in Wichita Falls,

(20:04):
Texas. Instead, they got afour hundred eighty inch. That's forty feet
four story building with no stairway,also known as the world's littlest skyscraper.
Legend has at McMahon took the moneyand went on the run. When investors
tried to sue him, a judgetold them that they had approved the building

(20:26):
exactly as it was built. Noneof the investors had noticed that the scale
on the blueprints was in inches insteadof feet. Now to the honest man.
In nineteen eighty four, Detective RobertCunningham was at Sal's Pizzeria near Yonkers,
New York. When he was aboutto pay his bill, he made
a deal with his server, PhyllisPenzo that instead of paying her a tip,

(20:48):
they would split the winnings of aone dollar lottery ticket he had just
purchased well on April first, Yes, April Fool's Day. Weird timing.
He Penzo to tell her that hehad just won six million dollars with that
ticket and she was entitled to halfof it. The two would split two
hundred eighty five thousand, seven hundredfifteen dollars a year for the next twenty

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one years from con to honesty.That's funny money. I'm Dave Perkins.
Hey, welcome back everybody. Thisis the road to retirement. With the
Trip Lime House. We are cruisingalong today making some good progress, getting

(21:33):
us closer to retirement. Of course, trips helping us make that trip a
little bit smoother, and we're avoidingthe detours. We're avoiding the construction.
But we're not avoiding is talking abouthow to get there successfully? Right,
trip successfully? I like it?Who doesn't want to be successful? I
mean, that's like in these workshopsI do. I ask folks, hey,
does anybody in the room like tobe independent? Like, raise your

(21:56):
hand? And guess what. I'venever had one person even that didn't want
to just because they're not a handraiser. Everybody raises their hand. It's
like that song, everybody clap yourhands. But you know what, here's
the deal. There are basic things, folks, that you can do and

(22:18):
they're gonna help you. Okay,I'm going to mention one of those right
now. On May the twenty seventh, which is a Saturday, nine thirty
am at the Chamber of Commerce inLexington, We're gonna have a social Security
and income planning workshop and breakfast.That's right. Not only do I serve
you great information that's life changing.But also I'm going to provide breakfast for

(22:41):
you. This is a no cost, no obligation event purely education. Will
come on out and hang out withus. We'd love to have you.
If that's something that interests you,give me a call. You must give
me a call. Eight hundred ninefour zero six nine seven nine. That's
because we want to make sure wehave enough food for everybody. Again.
That's Saturday made the twenty seventh,nine thirty am at the Chamber of Commerce

(23:03):
and Lexington a social security and incomeplanning workshop with breakfast being served no cost,
no obligation. Eight hundred nine fourzero six nine seven nine is our
number. And folks who are listeningto the Road to Retirement show with a
Limehouse Financial, I am Trip Limehousehaving a lot of fun as we always
do, and Steve you're a bigpart of that. So thanks for doing

(23:26):
all you do to you know,help with the show and make it happen.
I did you know recently have acall from a long time listener and
by the way, hello to allyou long time listeners. Great to be
with you again. But Jim saidTrip, I just want to let you
know Steve, you know, hehas a lot of value to the show
and we appreciate him. And Isaid, I'm gonna tell him that.

(23:47):
I'm gonna tell him that, Ithank you very much. Yeah. So,
you know, strategies getting back tothe basics, right, but yeah,
so let's do it. Yeah.Well, and again I guess it
has to start at the beginning,and that means saving money. We've got
a regularly planned for retirement and theearlier the better. Well, how do
you decumulate without accumulating? Right?Well, that's true, Like if you've

(24:07):
got nothing to work with, then, you know, then you're really only
relying on Social Security. And bythe way, I will mention, I
know that that is a there's alot of people and they are lacking and
savings because they haven't done what weare talking about now, which is going
back to the basics. They haven'tsaved regularly when planning for retirement. I

(24:30):
mean, the key to retirement planningis to save a portion of each of
your paycheck. And folks, youwant to do this as early as you
can in your career as possible.You know, a good goal would shoot
for ten percent of your annual salaryand try to boost it higher every year.
So when I was young, mydad and my mom taught me a

(24:52):
lot, but they taught me aboutthe eight ten ten plan. I don't
know if somebody on the air isfamiliar with the AD time. Yeah,
so, um, you know theeight ten ten plan is, here's one
hundred percent of income, right youlive on ad trip. That's what I
was taught and uh, ten percenta tithe it's biblical, and ten percent
save it's logical, right um.And uh so that's you know, really

(25:18):
what we amy and I work towardsdoing and do we always do that?
Noe? But I tell you what, that's our plan. Uh. And
it is definitely you know, gettingus where we want to go, slowly
but surely. And it does thesame for you folks. Um, if
you'd like to know about the eightyten ten plan, then just give me
a call eight hundred and nine fourzero six nine seven nine. I'll share
with you about that, and ofcourse we can incorporate that into your four

(25:40):
letter plan, the PLA N that'sgonna get you to and through retirement.
Eight hundred and nine four zero sixnine seven nine is our number here,
so you want to save regular folks, Definitely do that. And um,
let's not discount the power of maximizinga four one K match, right,
Steve. I mean we can't leavethat right the table. I mean,
and if it's even you know,whatever the percentage is, at least contribute

(26:03):
that much to your own four ohone K to get that match. I
mean, otherwise you're giving away money. So, Steve, I'm gonna ask
you a question. I'm gonna puta twenty dollar bill on the table right
now, and I'm gonna tell you, Hey, Steve, this is yours
if you want it. No,I mean, are you gonna keep walking
by it? Are you gonna pickit up and say thanks? Yeah?
Just say hey, thanks, man, I appreciate it, right because I
told you as yours, you canhave it, right, yeah? Right,

(26:23):
And it didn't cost you anything.No, So, folks, if
your employers matching for one K,that's three dollars, definitely get the match,
Okay, Now, over and abovebeyond the match. I'm not quite
sure I would advise for that,because you are contributing to a tax deferred
retirement account, and that's gonna meanthat you incur taxes later on which is

(26:48):
going to be later on. It'sgonna be when you're retired. And you're
thinking, you're thinking that you're goingto have less of that three letter word
during retirement. You're thinking you're gonnahave less of the t X tax,
but you're not. You're definitely notgoing to absolutely, not so carefully consider
contributions to those tax deferred retirement accounts. And by the way, I call

(27:11):
them accounts because I want to folksout, there's a distinct difference between an
account and a plan, okay,and you need to know that. You
know, you cannot just tell yourself, I've got money in a four oh
one K and that's my plan.That is not not the way this thing
works, Okay. You have toutilize, you have to decumulate what you've

(27:33):
accumulated. And folks, that's whatwe do. We are income and distribution
planning experts and social security experts hereat Limehouse Financial. We build that backside
of retirement plan for you, andyou gotta have it. And by the
way, if you have a fouroh one K and you're over fifty nine
and a half, there's no reasonat all to leave it with your employer.
You can continue employment continue contributing,continue to get the match. But

(27:56):
you can roll that four one Kover right now into an il ray that
we help you establish. And thennot only that you move into an IRA,
but you move into the four letterword, the PLA, and you're
in control, you're confident, you'reindependent, and your goals are being achieved
as you are moving towards or arein retirement by doing what I just mentioned.
Don't forsake asking us about the fourto one k rollover prior to retirement.

(28:21):
Okay, that's really going to helpyou, you know, and I
just mentioned opening an IRA. Thatdefinitely is a way that you could potentially
lower your tax will in come nowand save more for the future over and
above a four one contribution. Sothat's a big deal. Call me right
now and ask me for the secondopinion on your retirement investments, and we'll
provide it for you, no cost, no obligation. It will be fact

(28:44):
based, non biased. You'll bebetter off for receiving it. Eight hundred
nine four zero six nine seven nineis our number. You're going to get
the plan that's right for you.Eight hundred nine four zero six nine seven
nine ten Callers right now, getthe comprehensive financial review, you see where
you are today, but more importantly, you find out where you're going to
need to be when it comes toretirement. Eight hundred nine four zero six
nine seven nine. Eight hundred ninefour zero six nine seven nine. There

(29:07):
are several reasons why people out theremight be worried about retirement and why confidence
in retirement has dropped to two thousandand eight levels. Folks, workers and
retirees alike are feeling the pinch,no doubt about it. When we come
back, we're going to take alook at the most mentioned reasons for the
lack of confidence, and we're goingto offer some suggestions to get you and

(29:30):
keep you on track. This issuch a blow to invest. Do it
right now. Break It takes courageto face up to things like volatile markets
and Wall Street money traps. Ifyou're unsure, worried, or losing sleep

(29:52):
about your money, do something aboutit. Call trip Limehouse, host of
Road to Retirement eight hundred nine fourzero six nine seven nine, or text
Trip tripp to eight hundred nine fourzero to six nine seven nine. We've
made it easy for you to takeadvantage of this fantastic offer. All you
have to do is call or textTrip to eight hundred nine four zero six
nine seven nine. We are backon the road to retirement with Trip Limehouse.

(30:18):
Well, the guy the Trip isguiding us along, coaching us up
as we get to where we needto be when it comes to retirement.
He's been helping folks just like youfor more than twenty years. Give him
a call eight hundred and nine fourzero six nine seven nine. So Trip,
I like this. People are worriedabout their retirement, and with good
reason. There's a lot going ontoday that can influence that. And one

(30:38):
of the keys or one of themain worries I think that people have or
concerns, is that the cost ofliving keeps going up. And we certainly
experience that in a big way lastyear with inflation, to say the least.
Right, Yeah, oh my gosh. Yeah, let's tell height.
I like to focus for a momenton something very positive, and that's the

(31:00):
Inflation Reduction Act passed by our legislators. How'd that work out? What a
positive piece of legislation. And folks, let me just share with you that
it did add over a trillion dollarsto our national debt, which is already
in access of thirty trillion dollars.Okay, however, it was a crafty,
craftily named piece of legislation, InflationReduction Act. Okay, you know,

(31:22):
come on right now. You mayfeel different about that, and that's
fine. All I'm sharing with youis right now related to the cost of
living conversation that we're talking about hereon the Road to Retirement show. Is
that. Yeah, it's affecting allof us, right, it really is.
I mean, because there's a lotthat we all have in common,
although we are all unique, anddefinitely me, I'm very unique. That's

(31:45):
why they call me Trip. Actuallythey call me Trip because I'm the third.
I do get asked that question often. Carlisle Walker or Limehouse the third.
So that's where I got the tripfrom. But you know, there
is something that we're all all encountering. We live in the same world,
although some of us at times couldbe on a different plan and I think
I don't know, but we livein this world and things are different than

(32:09):
they used to be. I mean, I don't know. I've seen I've
seen a change at a pretty rapidpace in the last several years. Steve,
I don't know I mean, haveyou have you noticed that things are
happening very quickly? Yes, indeed, and certainly I guess that just goes
without saying. I mean that's kindof how the world works. It keeps

(32:30):
getting bigger and faster and more efficientsometimes. Yeah. Yeah, well,
I think bigger, faster and moreefficient at times is a fair statement,
for sure. I think also whata fair statement is that our federal government
has been trying to rein this infor quite some time now. And how
had they done that? It's raisinginterest rates, right, and of course

(32:52):
that's going to affect everything out there, including the cost of a living.
I mean, you know, twoyears ago you could buy U three,
you could finance a three hundred thousanddollars house, right, and now that
same three hundred thousand dollars, wouldyou know, get your house half the
size? I mean, talk aboutrising costs of living. I mean I

(33:14):
go. I go to the grocerystore, not often because my best friend
in the whole world, loving mylive Amy, oh honey, I love
you. She's the one doing theshopping for the most part, right,
keeping things rolling at the Limehouse house. And but I go every once a
while. I'll pick up something.I'll come home and I'll be like,
who come out. Here's a receipt, you know, like I got I

(33:36):
got seven or eight items, youknow, uh, sixty nine dollars.
I'm you know, my goodness,you know, so cost of living.
Yes, it's happening, and it'saffecting all of us. I mean,
there's a survey. Uh. Thisis the twenty twenty three annual Employee Benefit
Research Institute Retirement Confidence Survey. Andcheck this out, Steve. This is

(33:58):
pretty staggering. Only sixty four percentof workers and seventy three percent of retirees
are confident about their retirement what isgoing to look like? And that's down
from seventy three percent and seventy sevenpercent one year ago, according to that
survey that was conducted earlier this yearJanuary and February. So it's and by

(34:22):
the way, focus This survey isthe longest running one of its kind and
it is conducted by Green Walled ResearchGreen Waled Research. So yeah, it's
fact based. You know. Ilike to point that out to people because
you know, one of the thingshere at Limehouse Financial we do is we
focus on fact based planning. Okay, fact based planning. Oftentimes people arrive

(34:46):
here because they have encountered a scenarioworking with another broker, planner, advisor,
or agent, and the current scenariothat they're in is when they begin
with that person who's handling their lifesavings, things were kind of speculated and
not really built well, okay,and so as a result of that,

(35:09):
you know, some people are,as we say on the road to retirement
journey, running out of gas.Never a good thing, meaning they're running
out of money. And why isit happening? Well, one reason is
happening is because that person that theywere noticed I say, they were working
with, never taught them about thistrademarked by none other than myself Trip Limehouse,

(35:34):
the green line principle. Okay,so pay pay quick attention, folks.
There is something I mean, we'vebeen talking about rising costs of living,
Okay. So that's something that youcan't control because the numbers are going
to be what the numbers are.Inflation is going to be what's gonna it's
gonna be right, that's out ofour control. But there is one thing
that you can control. Pay closeattention. You don't want to miss this.

(35:55):
It's the green line principle, andthat's where zero is your hero.
You cannot lose any of your money, and you have a lot of potential
for upside, potential to earn interest. And we also can create a personal
pension plan if so needed, okay, using the green line principle. Remember,

(36:15):
folks, your income during retirement determinesyour outcome during retirement. Gotta really
focus in on that income. Butthis green line principal strategy, Steve,
this is something that people can ifthey understand, they can choose to implement
in their plan with us here atLimehouse Financial. And I do believe that
they'll be better off for it,even with rising costs of living. Okay,

(36:38):
so don't forget to ask us aboutthe green line principle. Also of
Saturday, May the twenty seventh,Saturday May the twenty seventh, at nine
thirty am at the Chamber of Commerceand Lexington. Exciting news, folks,
We're having in an event. It'sa no cost, no obligation breakfast.
The topic is social security and incomeplanning and I'm going to be conducting that,

(37:01):
providing you with a great information that'slife changing for you for sure,
and also serving you a great breakfast. So um, if you'd like to
attend that, you need to letme know. Again. The date for
the Social Security and Income Planning Workshophosted by Limehouse Financial is Saturday, made
the twenty seventh, nine thirty amis the time. The Chamber of Commerce

(37:24):
in Lexington is the place, andthis is a no cost, no obligation
event and we're serving breakfast. Comeon out. Okay. If I can't
have the eggs, Benedict, I'lljust go with a waffle Nah, that's
fine, that's right. Absolutely,if you can imagine it right, it
can be. We can do it. Although I will say I'm leaving the

(37:45):
waffle iron at home that day.Okay. So yeah, and I do
I want to add if people wantto attend that, they need to let
us know, Steve, Okay eighthundred nine zero six nine seven nine.
That will that way we'll have enoughprovision for the crowd, so to speak.
So that makes me think of understandingsocial security. I mean this tying

(38:06):
back into the reason why people mightbe worried about retirement and why confidence and
retirement is lower than it has been. And we're talking about two thousand and
eight levels, which is pretty narlow. Well, I mean a lot
of people are retiring and relying onSocial Security as the biggest part of their
income plan in retirement. But rightnow, and it certainly is warranted,

(38:32):
there's a lot of uncertainty about thefuture of Social Security and whether it's going
to be able to provide the samelevel of benefits in the future as it
currently does. So what a greattime for people out there who are nearing
exiting on the road to retirement journeyto be able to for sure make the

(38:52):
best decision on when to file fortheir Social Security benefit. I mean,
if there was ever a time todo that, it's now, because things
will probably be changing and you needto get the most out of your benefit.
I call that the social Security roadmap, and if you would like that,
I'll provide it for you. Youcan give me a call right now
eight hundred nine four zero six nineseven nine and I will provide you with

(39:16):
that social Security roadmap. Okay,folks, don't just throw a dart at
the dartboard blindfolded and just randomly choosewhen to take social Security and furthermore,
furthermore, listen to this. Ifyou are currently working with a broker,
planner, advisor, or agent,broker, planner, advisor, or agent.
They're handling your finances, your money. They know about when you're going

(39:37):
to retire. You may have talkedto them about some of your goals and
dreams during retirement. If they havenot given you a social Security roadmap,
that is a check engine light that'son in your vehicle right now, and
you better for sure get that takencare of, because it's just a big
deal. Everybody should have a SocialSecurity roadmap. I mean, I don't

(39:59):
know what's gonna be happening with it. The Social Security Trust Fund scheduled to
be depleted by twenty thirty four.At that point in time, there are
talks of a twenty five percent reduction. Steve, can you imagine? Can
you imagine this, Steve, No, seventy million people all of a sudden
lose twenty five percent of their incomefrom Social Security. Can you imagine that
that's going to be devastating if ithappens. I'll tell you why. There's

(40:21):
gonna be two types of people outthere. The people that have the four
letter word, the PLA, N, yes, and they're following it and
they're confident and they're in control oftheir retirement and then there's going to be
the other people who do not havethat plan, that written plan for retirement,
which is something everybody needs. Bythe way, if you don't have
a written plan for retirement and youwould like one right now, call me
eight hundred nine four zero six nineseventy nine, ask me about it.

(40:45):
I'll provide it for you. Sofor those people that don't have that,
though, Steve, they're going tobe out of control, not have confidence,
and more than likely not be successfulon the road retirement, especially if
there's a twenty five percent reduction inSocial Security. I don't know what's going
to happen. I hope that ourlegend leaders can pull it together and stop
putting a band aid on social Securityand really fix it because it needs fixing.

(41:06):
So now, economic downturns are abig thing too. You know,
we've been talking about why people areworried about retirement and why confidence and retirement
has dropped. But the good newsis, Steve, we've also been talking
about things that people can take advantageof if they just simply pick up the
phone eight hundred and nine four zerosix nine seven nine or check us out
on the web at Limehouse Financial dotcom We've been talking about good things that

(41:28):
people can do if they number oneknow about it, number two understand it,
and number three choose to implement it. Okay, there are those things
that we can do to be helpingyou accomplish your goals. So, but
economic downturns happen, right, theydo, and we experienced one, certainly
in the last couple of years.That's why twenty twenty two is being compared
to two thousand and eight. Yeah, definitely a downturn in the market for

(41:51):
sure. And by the way,a lot of people are wondering, now
can they even retire? Do theyhave enough money to retire? If their
portfolios down you know, eighteen percent, can they still retire? Well,
I'm here to tell you perhaps amatter of fact, Jonathan and I met
recently with a couple m One ofthem had retired from uh the FN factory
here in Columbia. They manufacture firearms. You gotta love those f ns anyway,

(42:15):
um uh and they you know,had quite a sizeable four one K
but it was down right and theyjust didn't think they could retire. They
heard us, heard us on theTV. By the way, folks watch
us on TV Saturday mornings at sixthirty am on WIS Channel ten in Columbia.
That's the Road to Retirement TV show. Check us out. So they

(42:36):
they watched us on TV, camein, had an appointment, and uh,
they said, hey, look allthe things you're talking about. We
recognize that we need and we'd likesome help with it. So we built
them. We built him a plan, provided them with a social security roadmap,
an income and a distribution plan.You know, examined the portfolio,
made some recommendations and um, thisguy, though he was down in is

(43:00):
four oh one k. Well,the plan that we implemented allowed him to
recoup a great part of what hehad lost just because of the nature of
the plan from day one of implementation, and then also gave him and his
wife the confidence that they could retirewhen they were thinking they couldn't because they
had lost money. That's the typeof work we do here at Limehouse.

(43:21):
Well, that's the kind of newsyou'll like to deliver. Yeah, that's
right. I mean you darn rightabout that, buddy. Eight hundred and
nine four zero six nine seven nineis our number. You can reach us
on the web at limehouse Financial dotcom. Also you can go back and
listen to any episode on our podcastson Apple, Google, Spotify, iHeartRadio
dot com. That's the Road toRetirement show. So we can't control economic

(43:43):
downturns, they happened. They leadto job losses, reduced income, and
lower investment returns. It can makeit more challenging to save for retirement.
But you know, you just haveto do the things that you can do
to maintain control and to get towhere you want to go and stay there.
That's why you need to call usfor no cost, no obligation appointment.

(44:04):
Folks, you're living longer as well. Life expectancy is increasing advancements in
medical technology, I mean medicines,etc. You don't discount the possibility that
if you don't have a plan,you could outlive your money. That's called
longevity risk. Longevity risk the possibilityof you outliving your money a matter of

(44:28):
fact. Right now, that's theoffer. If you would like to know
how to never outlive your money,call me right now eight hundred nine four
zero six nine seven nine ask mefor the avoid longevity risk plan. I'm
going to provide it for you.Sounds great, trip. Eight hundred and
nine four zero six nine seven nineagain eight hundred nine four zero six nine
seven nine. Take advantage of theopportunity. We know listening to the Road

(44:52):
to Retirement Show has caused you tohave some questions. We welcome them,
and right now we're going to answersome of them. You've worked all your
life, you've saved, you've followedall the rules. Now it's time to

(45:12):
retire. Here's the question. Whodo 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'vegot more work to do for a retirement
that maximizes your portfolio, your socialsecurity, avoids unnecessary risk, protects you
from pitfalls, and frankly, letsyou retire, and keeps the Nestake working.

(45:37):
You need a retirement partner. Youneed someone looking out for your best
interests and building a plan for youbased on your situation. Called trip Limehouse
at eight hundred and nine four zerosix nine seven nine, or text trip
tripp to eight hundred and nine fourzero six nine seven nine. That's eight
hundred nine four zero six nine sevennine, or text trip to eight hundred

(46:00):
and nine four zero six nine sevennine, pol You're back on the road
to retirement with Trip. Limehouse hasbeen a smooth ride today helping us get
to retirement. That's what Trip doesand he's been helping folks for more than
twenty years. Limehouse Financial dot comis the website. Check that out and
we have got a lot to talkabout here. Remind everybody one more time

(46:22):
Trip about the big event coming upon the twenty stuff the big event,
Well, you can visit limehouse Financialdot com for that as well, just
to make sure you know Limehouse Financialdot com. But folks, on Saturday,
May the twenty seventh, we're goingto have a workshop, an income
and a distribution planning workshop. Okay, it's going to be at nine thirty

(46:43):
am at the Chamber of Commerce inLexington. We're going to serve you at
breakfast and also a lot of informationthat will be life changing for you moving
forward so you can obtain the retirementthat you are working for. Again.
That's Saturday May the twenty seventh,nine thirty am at the Chamber of Commerce
in Lexington. Social Security and IncomePlanning Workshop, no cost or obligation.

(47:06):
If you want to attend, youneed to let me know so I have
enough food. Eight hundred nine fourzero six nine seven nine is the number,
and we'll get you in there.Hey. In the first two segments,
Steve, we were talking a lotabout relationships and the emotions behind uh,
you know, two people working togetherand things along those lines, you
know, becoming in one accord withretirement and you know where they're going.

(47:31):
I do just want to give ashout out to both my mom and dad
for you know, raising me likeyou did so that I'm able to with
my wife being one accord as towhere we're going on the road to retirement
journey had headed that way. SoMom and Dad, I love you.
You guys are the best. Ireally am thankful for you. So,

(47:52):
folks, don't forget to ask usabout the green line principle as well.
I you know, I never mentionedthat enough on this show. A lot
of you guys are called in andsaying, hey, I've heard you mentioned
the green line. Tell me more, folks. This is trademarked by me
at Limehouse Financial Trip Limehouse. Itis a safe money strategy where you cannot
lose any part of your money that'sin this plan, and you have a

(48:14):
lot of upside potential okay, andyou really quite frankly, you need to
know about it and it should bea part of everybody's plan. We do
believe with that and money at riskand a portfolio, you will be successful.
Of course, that's where Jonathan O'Reilly, our investment advisor, comes in
helping people with that risk part.So collectively or we are building you plans

(48:37):
to get you to and through retirement, but not only that, we're going
to do it so that you canbe confident, comfortable, and successful and
maintain your independence during retirement. Sothat's the type of work we do here
and we are looking forward to seeingyou at that event on May the twenty
seventh and hearing from you when youcall in with more questions. Eight hundred
nine four zero six nine seven nine, Hey, Steve, lay one on,

(49:00):
here we go. We'll start withGary and Chapin and he says,
my spouse and I are seventy nineand seventy seven years old. We have
two million dollars in assets and wantto transfer some of that to our grandchildren
when we pass. Now, insteadof giving each of them a set amount
all at once, is it possibleto give them certain amounts over the year.

(49:20):
Gary, great question, and hey, thanks for listening to the Road
to Retirement show with Limehouse Financial.So congratulations. I want to compliment you
and your wife a great job accumulating. Okay, two million in assets is
quite the accomplishment now, quite frankly, what you're asking me now is how
to decumulate, how to give thoseassets away transfer to your grandchildren when you

(49:45):
pass. So there is this thingcalled the gift tax exclusion that you can
take advantage of, and for ourhigh net worth clients we're utilizing that.
And next that's a twelve million dollarsper person that can be just outright given.
So you can do that and maybein a very tax efficient way,
maybe even create something called a CharitableRemainder trust to ask us about that.

(50:07):
That's a great way for you toget income for your life and give to
charity at your death. But youcan incorporate something like that with the Wealth
Replacement Trust as well. So essentiallyyou have two million and you want to
give it to the next generation.Why don't you allow us to show you
how to leverage your current assets tocreate an additional asset that passes tax free

(50:30):
to your beneficiary. In entirety.Let's completely eliminate the irs from the picture,
and let's do it all guaranteed.Okay, Now that's the type of
planning that makes sense. So theanswer your question is, it is possible
to give them certain amounts over theyears. But really, if I were
you, what I would focus onwould be ways that you can maximize what
you can give them and eliminate theIRUs out of the picture. Eight hundred

(50:51):
and nine four zero six nine sevennine is our number here at Limehouse Financial.
All right, Roland's and Casey he'swondering. He said, Now,
I've heard that the current retirement adviceis to have a million dollars saved for
retirement. Now, we have aguaranteed income of eighty percent of our current
working income, two pension funds,and railroad retirement. Now we probably will

(51:13):
never take social security. We donot have a million dollars saved for retirement,
although there are We are nearing retirementage. Now does the advice of
saving a million dollars for retirement applyto our situation? Wow? So there's
not many absolute sar the So Roland, what I would say is you have
to interpolate the value of your twopension funds and the railroad retirement into that

(51:36):
million dollars. And if you didso, you probably have an excess of
the million. So you might nothave a million sitting right now in an
account, okay, but you dohave the equivalent to produce over all those
years in excess more than likely ofa million dollars. Don't discount the value
of those guaranteed sources of income.I think really what you need to do

(51:58):
is focus on an income and distributionplan, how to minimize taxes, maybe
create wealth for the next generation,and you know, live the retirement that
you want to live. Okay,so we're talking about a tax efficient retirement
plan. I can help you withthat. It doesn't necessarily you don't necessarily
have to have a specific amount toretire successfully. You just need to have

(52:22):
a specific thing. And that's thefour letter word, the P L A
N the plan. Rolling Imagine howmuch better you'd feel having that in your
hands. That way, you knowexactly what you're going to be doing from
this point forward, the end result, and to know that you're doing it
in the best way possible, folks, That's what we do here at Limehouse

(52:42):
Financial. We do it all froma fiduciary capacity. We only make recommendations
base in your best interest, andwe do it all with heart. We
care about you, We're interested inthat relationship, doing the retirement journey with
you. You know, if that'ssomething that you're looking for, I would
encourage you to call right now onehundred nine four zero six nine seven nine
and just ask me to get onthe calendar. We'll get you right on

(53:06):
in here and we will help youget to where you want to go,
stay there and be in control anindependent on your road to retirement journey.
Soun's Great Trip folks. This isit last opportunity today to give Trip a
call and get that spot on acalendar. Eight hundred nine four zero six
nine seven nine. Eight hundred ninefour zero six nine seven nine. Trip
always a pleasure to be here.It's always fun and we always cover some
really good important information. Great tobe with you, Steve and all of

(53:29):
our listeners. Tune in next weekfor another great episode of the Road to
Retirement Show with Limehouse Financial. Untilthen, God bless you. Information provided
is for illustrated purposes only and doesnot constitute investment, tax or legal advice.
Information has been obtained from sources thatare deemed to be reliable, but
their accuracy and completeness cannot be guaranteed. Be Either trip Limehouse nor his guests

(53:52):
are liable for the usage of informationdiscussed. Always consultable the qualified investment,
legal or tax professional before taking anyaction