Road to Retirement 05-31-2025

Episode Transcript

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

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

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

Speaker 3 (01:02):
Retirement isn't all doom and gloom. Seventy two percent retiree
see things are going better than expected. Want to know
their secrets. We're breaking down five smart moves retirees are
making right now and how you can do the same.

Speaker 2 (01:20):
Do you want to avoid taking a wrong turn or
your retirement road.

Speaker 4 (01:24):
The road to retirement is a long one and you
just don't want to make rock back.

Speaker 2 (01:29):
Well, buckle up, We're getting ready to take a retirement
road trip together. It's the road to retirement with Trip Limehouse.

Speaker 4 (01:37):
It's the perfect amount to map it out. That road
to retirement is key.

Speaker 2 (01:42):
Is key you get on the road to financial security
and independence. Just like many of Trip's happy clients in retirement.

Speaker 4 (01:49):
Partners, my money is saying using the green line principle
that you taught me about.

Speaker 2 (01:53):
Thank you so much, Let's get this trip started. It's
the road to retirement with a Limehouse.

Speaker 5 (02:03):
Hey, welcome on everybody. This says the road to retirement
with Trip Limehouse. My name is Steve, so Trick's been
helping folks for a couple of decades. We'll talk about
the green line principle that is his creation and so
much more. Trip Hi, How are.

Speaker 3 (02:15):
You doing great? Steve. Good to be with you, and
also with all you listeners out there and radio land.
I hope everybody's enjoying this nice warm weather. Steve, it's
been so uh so warm lady. Yeah, I gotta get
up at the crack of dawn and walk Fozzy and Daisy.
They're happy. They're like looking at me like, yeah, let's go,
you know, so get my exercise in, get their exercise in.

(02:38):
And you know what's funny is that later in the
day they look at me like, hey, you can take
me for another walk, and I'm like, we already did this, so.

Speaker 5 (02:46):
Man, Yeah, I know they forget sometimes.

Speaker 3 (02:49):
Well I think they pretend that they forget, you know,
So how about this. You know, we open up talking
about how retirement isn't all doom and gloom and that's
good news. You know, twenty two percent of retirees say
things are.

Speaker 5 (03:02):
And I like that, and I mean, I think that
that's important to point out that you're right, there are
positive things happening. People are retiring, they're retiring successfully and happily,
and you can help that and you can help us
do the same.

Speaker 3 (03:16):
Well, I think it comes down to, you know, people
out there evaluating kind of where they are, where they
want to go, and taking a close look at this.
And you know, I'll let you guys out there and
radio Land judge for yourself. If you think you're doing
things right, and of course I'm going to offer you
the opportunity if you don't think you are, to come
in and let's make it right. I mean, hey, who

(03:37):
wants to get into retirement and then you know it'd
be a bumpy road. That road to retirement is a
long one, and we want to make sure we are
prepared to exit. We want to make sure that the
journey is good and then we can go the distance
and you know, be independent and in control the whole time. Hey,
here at Limehouse Financial, we are retirement planning experts, income

(03:57):
and distribution planning experts, social security experts. We have help
you get the job done. Eight hundred nine four zero
six nine seven nine Limehouse Financial dot com. You know,
I mean you mentioned it. Inflation's up, markets are rocky,
and uh, costs of living just keeps going. So why

(04:20):
then would so many people seventy two percent say that
retirement is going better than expected. So let's take a
look at what they're doing right Number one.

Speaker 5 (04:27):
I'll tell you why trip, Yeah, I'll tell you why.
One word plan.

Speaker 3 (04:33):
Oh, the four letter one got a plan.

Speaker 5 (04:34):
That's why people are happy? Yeah, that's why people are happy.
That's why they're retiring happy.

Speaker 6 (04:41):
You know.

Speaker 3 (04:41):
Jonathan. Jonathan and I Jonathan, my investment advisor. He and
I witnessed that on a regular basis when we are
meeting with our clients and doing reviews with them, and
they're all they're all pleased. They're they're pleased with the
choice that they made to work with us and the
plans that we built them. I mean, they're all individualized, customized,

(05:02):
but they're built to last. Jonathan often says they're bulletproof,
you know, And I really like that. It's very rewarding
part of our job, no doubt about it. One of
the things that people do and do right is create
multiple sources of income, or they build multiple sources of income.
So I don't know, I think that the days of

(05:25):
relying on just a pension or just social security are gone,
and people today are maybe a little more savvy. A
lot of people have layered social security pensions, annuities, maybe
some rental income, maybe even part time work, and perhaps
some dividends into the picture. And so we always do

(05:47):
a lot of studies. I thought this was a pretty
good one. According to the Trans America Center, sixty six
percent of retirees have at least two sources of retirement income.
And this is why it works, folks. Diversifying your income
is going to help you protect again downturns in any
single source. So think of it as creating a paycheck
patch work, so to speak, a paycheck patch work. You know,

(06:09):
it just kind of always helped. Yeah, And when everything
is going good, I mean, you're just like doing awesome.
But when one or two things falter, you're still doing good.
You're not you know, wondering what are we where are
we going to go? Now? How are we going to
make it? And so that's you know, one of the
things we do here at Lamehouse Financial is we build
plans for you in such a way that maybe when

(06:32):
one thing isn't doing good, you're still going to be okay.
We call it often to sleep well at night plan
And Steve, you you always do a great job. Thank
you for that of mentioning the green line principle, you know, folks,
the green line principle, it's something that everybody needs to
incorporate into their plan. It's it's a safe money strategy
where zero is your hero. You cannot lose any of

(06:53):
your money. You got a lot of upside potential and
it really puts you in the driver's sept on this
journey on the road retirement. So I encourage you to
visit green Line Principle dot com to learn more or
Limehouse Financial dot com to learn more. But this safe
money strategy, it's it's just imperative that everyone has that.
And you know, Steve, we talked about it all the time.
You know what determines outcome? Well, income, income determines outcome come. Yeah,

(07:19):
in income determins outcome. We did an event recently and
I asked folks in the in the audience, you know,
how many of you have a pension currently? And you know,
I think like five or six people raise their hand
and said, well, okay, who started income from your pension?
And two of them had And I said, well what
do you like about it? And they said, well, it's predictable,
it's stable, it's guaranteed, it's consistent. And I said, hey,

(07:42):
those are all pretty important things to have during retirement
or really any time. And you know, so I could
see the look on some people's face that didn't have
a pension. They didn't raise their hand, and I said, hey,
I want to encourage you. You can have a pension
if you want. It's called the personal pension plan, and
at Limehouse Financial we can help you set that up.
I mean, folks, if you think about it overall, what

(08:03):
is a main purpose of your retirement savings. It's to
create income so you can maintain your lifestyle and then
do more things in retirement. And quite frankly, the type
of income you need to have is income that you'll
never outlive. So make sure you ask us about the
personal pension plan. And Steve I got to mention this too.
A lot of folks out there have cash balance pension plans.

(08:25):
This is a major life decision. They got to decide
do they want to take a lump sum or they
want to take the income that's being offered. Well, recently
we brought on another client yet again that had retired
from a Blue Cross Blue Shield cash balance pension plan.
Had to decide what to do. We did the analysis,
the pension analysis as we so call it, and we

(08:45):
were able to create about nine percent more income by
this particular person rolling the money out of the cash
balance pension plan into an IRA. That's not a taxable event.
And you know at the end result is nine percent
higher income. So folks, don't take it lightly. Make sure
you ask us about that and perhaps we can help you.

(09:06):
You know. So, speaking of building income, I think locking
in predictable income and that kind of ties into what
we're just talking about. Locking in predictable income is the
key to you know, why do you think that is.

Speaker 2 (09:25):
Well?

Speaker 5 (09:26):
Because I think because you just for what you just said,
it's predictable. It's you know, there's continuity there, there's you know,
comfort knowing that that's going to be there every month.

Speaker 3 (09:38):
Yeah, predictable income lucky. I mean, if you're working and
you have earnings, that's predictable income. And then when you
stop working, if you haven't taken this step, the first step,
which was build multiple sources of income, this is the
second step, locking in predictable income, then you wonder what's
going to happen because there's no more retirement paycheck anymore.

(09:59):
And here's what we see, and it's it's pretty cool
for people that have locked in predictable income, when the
market is up or when the market is down, it
doesn't rattle these retirees. And the and the reason is
because they have a part of their plan Uh, that's stable.

(10:20):
It's stable. So you know, talk about some tools that
can that can provide that predictable income, that stability. You know, annuities,
they're a great, great tool in the toolbox that can
be utilized to create you know, this predictible income. Sometimes
cash value life insurance can help a person out. You know,

(10:40):
that's often underestimated. Sometimes people are like, well, you know,
I don't need that. I don't my kids are older,
don't have any debt. But it does have its purpose
and folks, you have to look at that as an
asset class. Uh, and its primary function is of course
death benefit. But what a great you know product that
you can implement, you know, to grow your money in
a tax defer man or withdraw it tax free, create

(11:02):
a legacy, eliminate taxes on retirement accounts that have been
tax deferred. So, you know, speaking of another study, the
Stanford Center on Longevity, they report that retirees with at
least one source of guaranteed income report a higher satisfaction

(11:25):
and report having less financial stress. Two very good things,
being satisfied overall and less stress. I like that, you know,
it just makes sense. Right. So here's a tip for
our listeners, you know, consider carving out a portion of
your retirement assets to create that predictable income stream. Okay,

(11:48):
and I want you to think of this as the
sleep Well at Night money. If you will, all right,
we're gonna continue on money. Yeah, sleep well at Night
money exactly. We're gonna get continue on when we come
back on the next segment, and we're going to talk
about you know, what you can do to have a
successful and you know in control retirement smart moves that

(12:12):
others are making that you can do as well. But
before we break, I want to tell everybody got an
event coming up and it's going to be Saturday, June
the fourteenth. This is a breakfast workshop. We're going to
serve you breakfast, no cost or obligation, and a whole
lot of information. It's a social security and income planning workshop.
The location is the Lexington County Chamber of Commerce right

(12:33):
in downtown Lexington, and the time is nine am. Again.
Would love to have everyone out there attend our upcoming
Social Security and Income Planning workshop where breakfast will be
served Saturday June the fourteenth, nine am at the Lexington
County Chamber of Commerce right in downtown Lexington. All right, folks,

(12:54):
how can you move towards having a satisfying retirement? Well,
here's one way. For the next ten callers and then
next ten minutes, I'm going to offer you a no cost,
no obligation written plan for retirement bill Byer TEAMO certified
financial professionals, individualized and customized just for you. But you
must call in right now and ask for it. Eight
hundred nine four zero six nine seventy nine. Call in

(13:17):
to get that written plan for retirement. It's yours.

Speaker 5 (13:20):
Sounds great. Trip eight hundred nine four zero six ninety
seven nine. That's the number, eight hundred nine four zero
sixty nine seventy nine. Make that call today while you're
thinking of it. We're going to take a quick break.
When we come back, we'll continue the show road on
the road in retirement. Put Trip Limehouse right after this.

Speaker 6 (13:39):
Do you ever feel like you are fighting for financial knowledge?
Don't let that advice be a punch in the gut
to your retirement. Take advantage of a complimentary, no cost,
no obligation consultation with a local trusted financial coach. Call
Trip Limehouse at eight hundred and nine four zero six
nine seventy nine or text trip gripp to eight hundred

(14:00):
and nine four zero six nine seven nine. That's eight
hundred ninety four zero six nine seven nine, or text
trip to eight hundred and nine four zero six nine
seven nine.

Speaker 7 (14:10):
Getting the right retirement strategy suited to your unique needs
and desires is called hitting the bullseye. You can say
I nailed it. You actually should say we nailed it
because there's a firm right there with you putting together
the pieces of your own retirement puzzle. It's a bulls
eye plan for you. A call Trip Limehouse, host of

(14:30):
Road to Retirement eight hundred nine four zero six nine
seven nine or text trip tripp to eight hundred nine
four zero six nine seven nine. We've made it easy
for you to take advantage of this fantastic offer. All
you have to do is call her text trip to
eight hundred nine four zero six nine seven nine.

Speaker 5 (14:51):
Hey, welcome on, everybody, Welcome back. This is the road
to retirement with Trip Limehouse. My name Steve so All.
We are going through some great things about retirement by
and why people why some people of the vast majority,
I mean seventy two percent say hey, things are going
pretty well, and Trip the reason is because they're working
with an independent fiduciary like you and Jonathan, you know,

(15:12):
to put that plan together, because just because you have
a four oh one K doesn't mean you've got a plan.

Speaker 3 (15:18):
Yeah. I like how you summarize that in the first
segment and you're like, you know, I know. What it
all comes down to is that these people who say
that they are enjoying retirement that is better than expected,
they have done really good planning. Folks. I want you
to be just like those people. I mean, there's no
reason to go into this next part of life and
have uncertainty and a lack of direction and lack of clarity.

(15:41):
And we can help you. That's what we do here
at Limehouse Financial. We're social security and income planning experts.
We help you get there and stay there, and we
build plans for you. So what did we talk about
just a recap, We talked about successful people are building
multiple sources of income and they're locking in predictable income.

(16:03):
So let's move right into what else they may be doing.
And this will definitely be beneficial for those out there. So,
in addition to building multiple sources of income and locking
in predictable income, the folks that say that things are
going better than expected in retirement are consolidating their retirement accounts.
So you know, imagine that's even a little consolidation, right,

(16:28):
there's a lot of people out there.

Speaker 5 (16:30):
I think a lot of folks have more than one
four one K.

Speaker 3 (16:34):
Yeah they do, and and maybe they've had several jobs
and they're just they don't even think about it. But
so there's some different, you know, accounts that are out there.
I say that because they're not plans. There are accounts,
and folks don't ever forget that there's a difference between
an account and a plan. An account is just a
place where money is located. A plan is yours and

(16:56):
it's designed to get you where you want to go
and keep you there. But when folks are consolidating their
retirement accounts instead of juggling four to five accounts, you know,
retirees are just simplifying and I like to keep things simple,
you know what Vanguard says. Vanguard says that retirees with
fewer accounts make better decisions and are more likely to

(17:20):
stay on track. So you know, the bottom line is
that consolidation is going to help you guys out there
reduce paperwork, reduce fees, and maybe even the chance of
forgetting an old four one K. So here's a bonus.
It's easier also to manage your required minimum distributions and

(17:40):
to track your investment mix when everything's under one roof. See,
that's something that people tell us all the time. They
really like how when they're working with us, everything is
just kind of right here and they can call about
this part of their plan or that part of their
plan that you know, they have a team of people
on their side, a relationship with folks that care about them,

(18:03):
and they know that we're we you know, we're doing
this journey with them. That we got a compt a
lot of compliments on that. It means means, you know
something to people out there. Eight hundred nine four zero
six nine seventy nine is how you get in touch
with us Limehouse Financial dot com. So catch up. How

(18:23):
about ketchup? Let's talk about ketch up.

Speaker 5 (18:27):
What are you sure do you see a lot of
people taking advantage of that trip.

Speaker 3 (18:32):
I'm not talking about the kind of ketchup that I
put on my burger, which, by the way, I love ketchup.
That's one of my favorite condiments. So do you have
a favorite condiment?

Speaker 5 (18:42):
A you know, I'm gonna say mustard.

Speaker 3 (18:44):
Really, you know what's good about mustard? Yeah, Like, there's
only usually one kind of ketchup unless you go with
like sugar free ketchup or something. But mustard. Man, there's
sure dijon, brown, spicy honey. I mean, there's all spy mustard.
It depends much in the mood forward. But I'm talking
about catch up provisions, right, and you know, it's kind

(19:08):
of we've got to really be careful when we talk
about this though, because when people are funding tax efferred
retirement vehicles, they're agreeing to pay taxes at a later
date at an unknown rate. So just just you know,
be careful with this. Okay, But what are you know

(19:28):
some things that people are doing to make things smoother
in retirement and enjoy retirement. Well, they do tend to
take advantage of the catch up contributions and they're allowed,
you know, when a person reaches age fifty, So the
IRS will allow someone fifty or older to contribute more

(19:50):
to their retirement accounts. And a lot of people are
doing this. So here's the limits I want to share
with their audience in twenty twenty five, folks, you can
add an extra seven one thousand, five hundred dollars in
a catch up contribution to a four to one K
on top of the regular twenty three thousand dollars limit.
So that's a thirty thousand, five hundred dollars amount that

(20:11):
you can put into a four to one K. And
here's something interesting. The average retiree who maxes out catch
up contributions for just ten years, they could add over
one hundred grand to the nest egg, assuming modest return.
So think of it this way. Yeah, it's it's it's
really is a big while, So think of it this way.
Catch up contributions could potentially mean a second chance to

(20:34):
bulk up your retirement. And there's a lot of people
they just kind of, I mean, they kind of start
saving in a later date, you know. I mean, the
kids are a little bit older, maybe out of a house,
and college is paid for, and now they can really
just start socking away money again. Though, I just do

(20:55):
want to point out to our listening audience, and you
hear me talk about it over and over again, tax
deferral is just that, it's tax deferral. So we just
have to be careful. You know, there's other ways to save.
I do want everybody out there to get the match
that an employer would offer you. But let's just, you know,
carefully consider when we're putting money into a tax to

(21:19):
her retirement account, what the ramifications will be at a
future date. Every day, you know, people come in and
sit down with us. You know, Jonathan and I met
with a couple probably three weeks ago, and these guys
had been great savers, about two point two million in
their iras, and we just started talking about requirement of distributions,

(21:42):
and we started talking about taxation in the future, and
they got a little squirmy, and I said, well, yeah,
I mean this just kind of comes along with it.
You'd never paid taxes on this money, and you know
you're gonna have to take out, you know, eighty five
or ninety grand out of this part of your plan.
And yeah, you will bump into a new tax bracket.
But I mean it's really better than the alternative, you know,

(22:04):
not paying taxes.

Speaker 5 (22:06):
You know, well, yeah, i'd really pay taxes because at
least then I have money.

Speaker 3 (22:10):
Yeah, typically people that aren't paying any not always, but
typically people aren't paying any might not have the savings components.
So all right, so one more thing you know, people
are doing to enjoy their retirement. You know, we're talking
about how seventy two percent of people out there who
are retired say things are going better than expected. And

(22:30):
we're talking about what their secrets are. You know, we
talked about how they build multiple sources of income, they
lock in predictable income, they consolidate their retirement accounts, they're
using catch up contributions. And one additional thing they do
is they build a solid balanced investment mix. Okay, solid
balanced investment mix. And you know, my investment advisor, Jonathan O'Reilly,

(22:54):
he does a fantastic job helping people understand the importance
of money at risk. Here at Time House Financial, we
do function from a fiduciary capacity, only making recommendations in
your best interest. And you know, when we're looking at
where people are, we're talking about how they need to
have money at risk. Two reasons capital appreciation and outpaced inflation.

(23:18):
But what we do find is that a lot of
you out there that are coming in to see us,
do you not really sure about you know, what you
have in your portfolio. So we offer what's called a
portfolio observation report, and this is a non biased, fact
based report where we take a look at your holdings
and we determine what the performance is, what the cost is,

(23:41):
we determine if it's meeting the benchmark that it should meet,
and we determine if it's appropriate for you. So you know,
make sure you ask us about the portfolio observation report. Again,
most people just don't really understand what they have. So
despite volatility, you know a lot of retirees are not panicking.
And why well, because they've met with us and they

(24:03):
know that their portfolios are built to weather the storm.
So a typical retirees allocation of their moneys it might
look something like this. Maybe they have stocks for growth,
maybe some bonds for stability, and some cash or flexibility. Now,
when we hear what Fidelity has to say about this,

(24:28):
they share with us that retirees that have a diversified
sixty to forty portfolio historically have seen a steady long
term return even with market pump. So folks, a tip
would be, don't go conservative too soon. We're living longer.
We do need growth to outpace inflation. So I don't

(24:49):
know you I'd say. The bottom line with all this, Steve,
is that you know, there are a lot of retirees
that are doing better than maybe what other people think.
And the these are people that aren't just lucky. They're smart,
they're strategic, they're flexible. And here's the good news for
our listeners, you can mirror these strategies right now as well.

(25:11):
Whether you're thirty five or fifty five or allready retired.
You know, all you need to do is take advantage
of the offer that we give and come in and
sit down with us. Let us work through this stuff
with you and help you folks. This offer is for
the next ten callers in the next ten minutes. It's
for a written plan for retirement phil by our team

(25:34):
of certified financial professionals. It's individualized and customized just for you,
no cost or obligation. You must be one of the
next ten callers right now to receive this. Again, it's
a written plan for retirement, individualized and customized just for you.
You must come in and go through our process to
receive this. I want to make that clear. We will

(25:54):
not just email you something or mail you something. This
is your opportunity to set yourself up for more success
in the future. Take advantage of it right now.

Speaker 5 (26:07):
Sounds great, Trip, do that give us a call. Eight
hundred ninety four zero sixty nine seven nine. There's no cost,
there's no obligation to help you get a better handle
on your financial situation. Now you can find out what
your investments are really costing you because of fees or commissions.
How about tax implications and how much income can you
generate once you move into retirement. Those questions and more

(26:28):
are answered when you sit down with Trip and the
team and start putting that plan together. Eight hundred nine
four zero sixty nine seventy nine. That's eight hundred ninety
four zero sixty nine seventy nine. Take a quick break.
We're coming right back though, with more on the road
to retirement. What Trip line house.

Speaker 8 (26:49):
If you remember these TV shows, You're getting ready to retire.

Speaker 7 (26:53):
And everybody see a big pair of feet there, cheesy mustache.

Speaker 3 (26:56):
I'll think of.

Speaker 8 (26:57):
You, you guts Well, I'm one guy who ain't prejudice
against anybody who may be LESSI piated than me. It
kind of sneaks up on you, doesn't it. Oh geez,
you deserve a secure, independent retirement. Our retirement that is
prepared to handle pitfalls like inflation, health emergencies, stock market volatility,

(27:22):
and taxation. You've worked hard for your money and will
work just as hard to protect it and grow it.
Retirement planning doesn't have to be difficult. Get the facts
based approach that you deserve all at no cost, with
no obligation. Call the Road to Retirements Trip Limehouse eight

(27:44):
hundred nine four zero sixty nine seventy nine or text
trip to eight hundred nine four zero six nine seventy nine.

Speaker 5 (27:55):
Who we are back on the road to retirement with
Trip Limehouse. Having a nice drive today as we usually do. Oh,
we've got the top down and just cruising along in
the Sunshine Trip. It's a great day for a drive.
And I think what we're gonna do in this segment
is pretty cool. You know, we're just gonna we're just
gonna run down ten things that that can help you
get you know, better in retirement. And the first one

(28:17):
on the top of the list, people aren't most people
aren't saving enough.

Speaker 3 (28:22):
Probably true. Yeah, that's definitely a top one, that's for sure.
This is kind of staggering, but nearly fifty five percent
of Americans, they say they're behind saving for retirement and
it's a very real thing. And you know, folks, if
you feel that way, maybe it's the truth or maybe

(28:43):
it's not. I think sometimes people chase a number and
you know, they may be able to retire when they
even though they don't think they have enough money to retire.
I mean that happens often in our office. People sit
down with us and you know, they're like, oh, gosh,
I just you know, I'm trying to get to this
number and then retire. And then it will build a

(29:03):
plan for them and we'll find out that even with
what they currently have, which isn't what they wanted to have,
that they still can retire. People are always pleased to
hear that. And then there's a handful of people where
we say, you know, you're right, you don't have enough money.
You're gonna have to continue working. And people are always
thankful that we share that with them as well. You know,
that's our job is just to help people make sure

(29:24):
they're going to be okay. So, folks, here is just
a suggestion on saving. I mean, try to save at
least fifteen percent of your income, and that would be
including your employer contribution. So you know, if you're behind,
bumping up gradually, maybe one to two percent a year,
and that could make a big difference. I read a

(29:45):
good book recently, Steve, and my lovely wife gave it
to me. Honey, I love you so much. You were awesome.
The name of that book is Atomic Habits.

Speaker 5 (29:54):
Oh yeah, I know the book. I do know the book.
I have it on my bookshelf too.

Speaker 3 (29:58):
And you know, the author of that book talks about
just one percent. One percent makes a big difference, even
though it doesn't seem like it. So folks, I mean,
as I just mentioned, even one to two percent a
year could make a big difference over time. So you know,
just work on it and don't give yourself such a
hard time if you if you're not at the number
that you think you should be at. Uh, just keep

(30:21):
working towards it, working towards it. But at the end
of the day, it does all come down to what
we talked to on the talk about on the show here,
and that is having a plan. I mean, you just
need a plan, and also you need people on your
side that care about you, that can guide and direct
you and say, hey, you know what, you might be
a little behind or you're gonna be okay. And that's
the type of work we do here eight hundred nine

(30:42):
four zero six nine seven nine Limehouse Financial dot Com.
So number one is most people aren't saving enough. That's
you know, that's a thing. Number two, sure, yeap. Number
two is uh, people might live longer than they think.

Speaker 5 (31:00):
That's a real problem, trip, isn't it.

Speaker 3 (31:02):
Well. I mean, a sixty five year old today has
a fifty percent chance of living until at least eighty five.
So you know, a sixty five year old person today
has at least a fifty percent chance of living to
you know, eighty five or longer. So you know, what
do we need to do well? We need to plan
for a very long retirement, a long journey, not just

(31:23):
you know, fifteen or twenty years. So we have to
look at strategies that offer long term growth. We have
to have that professional money management and the right portfolios
that are going to you know, appreciate over time. And
that's also where we come in as matching people with
the portfolio and helping with professional money management. Big difference

(31:45):
between that professional money management and just having maybe a
stock or a bond or you know whatever you might
have you know, a portfolio approach really really can help
you out, and that's something that we do here at
Limehouse Financial. Another thing that we do here at Limehouse
Financial is have events. I just want to take a
minute to invite everyone out there to an upcoming event.

(32:07):
It's going to be Saturday, June the fourteenth at the
Lexington County Chamber of Commerce at nine am. This is
a breakfast event. We're going to serve you breakfast, no
cost or obligation, and the subject is social security and
income planning. We get a lot of positive feedback from
people that attend this event. Saturday mornings are nice and relaxed,
great time to come out and meet us face to

(32:27):
face and learn more about what we do and how
we can help you. Again, this is Saturday, June the fourteenth,
nine am at the Lexington County Chamber of Commerce. Breakfast
will be served and so will a whole lot of information.
If you want to attend that, visit Limehousefinancial dot com
under the events tab you can register, or you can
call eight hundred nine four zero six' nine seven. Nine

(32:52):
so getting back to the facts that we were talking
about that could make or break your golden, years. Healthcare
you got to throw that out there to. You it's
a BIG d so.

Speaker 5 (33:01):
Well and it's not going to go. Away and the
older we, get the more we need.

Speaker 3 (33:05):
It we mentioned this a, lot but we. Do we
do it because we just have to keep it in
front of. People so a healthy couple that retires at
sixty five can expect to spend over three one hundred
and fifty thousand dollars on healthcare in. Retirement quite. Staggering
and that's that's above and beyond what you Know medicare

(33:26):
helps you. With and, folks we help you With. Medicare
we're holistic planners here At Limehouse, financial so we help
you understand Which medicare plan is going to be best for. You you,
know There's PART a that's going to help with the
hospital Is PART b for. Doctors PART c is a
combination OF a AND b also known As Medicare. Advantage
and then There's PART d for prescription drugs alphabet soup

(33:46):
AS i call. It i'm convinced that it's going to
be they're going to use all all the letters before
it's over. With but you, know we have to carefully
manage how we're tackling this healthcare, thing and maybe we
look into something like AN hsa health savings, account you,
know and we definitely have to pick and choose whether
we're going to go with The medicare suplement or whether

(34:08):
we're gonna have you, know The medicare advantage. Plans and
that's our. Job we want you to understand that we
we are aware of the impact of healthcare during. Retirement
as a matter of, fact every plan that we build
we include a line item that budgets for healthcare. Expenses
and that's a key thing that must be. Done, so,

(34:31):
yeah can't discount. Healthcare no Social. Security let's get into, that.

Speaker 5 (34:36):
All, right, sure because that's a big. Decision that's probably
one of the biggest decisions you're going to make going
into retirement is when to Claim Social, security especially if
it's a couple then there's any age.

Speaker 3 (34:46):
Difference, well you, know for a married, couple there's thousands
of different filing combination strategies that are. Available. Thousands let's
just start with talking about the monthly average for Social.
Security you, know in twenty twenty, five it's about nineteen hundred,

(35:07):
bucks you, know hardly enough to live on for most.
People so HOW i want folks to look at soci.
SECURITY i want them to consider it more of like a,
supplement not their main source of. Income and if, possible
let's delay it so that the benefit is. Higher, now
most of our clients seven figure, portfolios social, security pension brokerage,

(35:28):
accounts things along those, lines so they're not solely relying
on social. Security but there are a big number of
you out, there and social security will be the only
part or the biggest part of your. Retirement we offer
what's called the social security. Roadmap that's when we help
you understand through careful, analysis the best time for you
to file for your benefit so you optimize it and maximize.

(35:50):
It everybody out there needs a social security, roadmap so
make sure you ask us about, That, Okay limehousefinancial Dot
com eight hundred nine word zero six nine seven. NINE
a social security roadmap is. Key what about? Debt THE d.

Speaker 5 (36:07):
Word doesn't go, away that's for.

Speaker 3 (36:10):
Sure it definitely doesn't retire when people. RETIRE i wish it.
Did it's, staggering but the truth, is over forty percent
of retire he is still carrying, mortgage still have credit
card debt or other loan, debt and folks a suggestion
here would be just to try to knock out high
interest debt before, retirement build or or, furthermore build payments

(36:33):
into your. Budget if that's not, feasible. Okay jonathan spends
a lot of time with people who fall in this.
Category they have. Debt he helps them figure out ways
to minimize or eliminate, debt either before retiring or along the.
Way you, know there are some creative things that you can.
Do for, instance if you have a four to ONE
k and let's just say you have a high high
interest rate credit card and has a balance of you,

(36:55):
know twelve thousand. Dollars and let's say you have a
four to ONE k that has one hundred grand in
it and you're still. Working you could borrow twelve thousand
out of your four to ONE. K it's your. Money
you could borrow, it pay off the twelve grand to
the credit card, company and then pay yourself back that
twelve grand maybe at five or six percent interest over
two or three. Years you're paying yourself back that. Money
there's no penalty, involved and you come out way ahead

(37:17):
of the. Game so little things like that could really
help you. Out and we love helping people look at
different options that they're not even aware, of like the
ONE i just. Mentioned so and so another thing, is
guess what what people people are still going to spend
money on fun. Things they Are they're just they're not
going to stop doing. That so the go go years

(37:39):
of retirement and we'll just say that's usually when people
are going and doing and maybe it's the first ten
years of retirement that can be some of the most
expensive for. People so a tip for this is to
go ahead and budget for. That budget for, travels hobbies
and grandkids. SPOILING i, mean it's your. Time we just
got to plan ahead for. It in every plan that we,

(37:59):
build we do put a lifestyle goal for things Like
i'm talking about. Now you just have to have. It
it's the little things that make a. Difference so up
next is. Inflation, yeah it's the. Truth it's going to
eat away at your nest. Egg you, know at three percent,
inflation your money loses about half its value in twenty four.
Years so we've got to grow money in a professionally managed.
Portfolio even after you stop. WORKING i, mean here's a.

(38:22):
TRUTH a third of retirees will return back to work
even if they don't want, To so you, KNOW i,
mean let's just take that into. Consideration another thing that
doesn't retire when you do is. Taxes you, know anytime
you make a withdrawal from a tax for a retirement,
account it's going to be taxable as. Income let's consider,

(38:42):
roths you, know let's consider taxable brokerage. Accounts let's create
tax diversified. Strategies, last but not, least, folks is state.
Planning it's more than a. Will and here's the. Truth
only about a third Of americans having a state. Plan
so don't stop at a. Will let's look at power of,
attorney healthcare, directives and you, know let's look at trust
if you have complex. Needs so you, know retirement is

(39:05):
in an, age it's a financial number and a lifestyle.
Choice and you got to look at these truths that
we've talked about and know how you can empower yourself
to retire. Smarter all, right this offers for the next
ten callers in the next ten. Minutes it's for a
written plan for retirement built by our team as certified financial,
professionals at no cost or obligation to. You you must

(39:25):
be one of the next ten callers in the next
ten minutes to receive this written plan for retirement at
no cost or.

Speaker 5 (39:31):
Obligation that sounds, fantastic Trip do take advantage of the.
Opportunity eight hundred ninety four zero six nine seven. Nine
eight hundred nine four zero six nine seven. Nine goal
here at the show is to help you make the
best decisions for you regarding. Retirement if you've got, questions
maybe things how it might affect your own, life give
us a. Call eight hundred nine four zero six nine seven.

(39:51):
Nine quick break back with one more. Segment, Oh i'm
the road of. Retirement what Trip line.

Speaker 6 (39:55):
Knows you've worked all your, Life you've, Saved you've followed
all the. Rules now it's time to. Retire here's the.
Question who do you want relaxing and taking it? Easy
your nest agche or. You, well of course you want

(40:16):
to relax and travel and enjoy and nest. Egge you've
got more work to do for a retirement that maximizes your,
portfolio your social, security avoids unnecessary, risk protects you from,
pitfalls and frankly let you retire and keeps the nest each.
Working you need a retirement. Partner you need someone looking

(40:37):
out for your best interests and building a plan for
you based on your. Situation call Trip limehouse at eight
hundred and nine four zero six nine seventy nine or
text trip tripp to eight hundred and nine four zero
six nine seventy. Nine that's eight hundred and nine four
zero six nine seventy, nine or text trip to eight
hundred and nine four zero six nine seven.

Speaker 2 (40:59):
Nine if bad money habits to strain your financial, progress
it's time to alter your.

Speaker 3 (41:05):
Behavior here's another bad money habit to.

Speaker 2 (41:07):
Break being financially. Illiterate the financial world can be extremely,
complicated and most people don't rush home to read the
latest financial. News but knowledge is, power and some knowledge
of the financial world can be. Empowering now we're not
talking about getting a degree in economics From, harvard but

(41:28):
reading an article online every day can greatly increase your financial.
Understanding many are very interesting and the search is not
hard at. All online news feeds are so. Intuitive once
you click on one, story more and more will. Come
it's amazing how a daily read will turn on that
financial light bulb in your. Head an article or two

(41:52):
a day will keep the bad money habits.

Speaker 5 (41:56):
Away we're back on the road to. Retirement with Trip
limehouse our final, segment our final stretch of road to
get us into, retirement and it's going to be a good.
One i've got a lot to talk about, Here. TRIPMAN
i want you to remind everyone one more time of
the seminar you got coming up in a couple of
weeks for a week or.

Speaker 3 (42:15):
So thank You steve for doing, that. FOLKS i would
like to invite you to a live event we're hosting On,
Saturday june the fourteenth at nine am at The Lexington
County chamber Of. Commerce this is a breakfast. Event we're
going to serve you, breakfast no cost or, obligation and
we're going to serve you a lot of information as.
Well this is a social security and income planning. Workshop

(42:36):
we would love to have you. There come on out
and see. Us Saturday june the, fourteenth nine am at
The Lexington County chamber Of commerce for a social security
and income planning workshop where we serve you a. Breakfast
you must call in eight hundred nine four zero six
nine seventy nine to get on the. Roster we're going

(42:56):
to make sure we're adequately prepared and at Limehouse financial
dot com under The events tab and register that. Way
but thank You steve for bringing that. UP i really appreciate,
it so so do is our listening. Audience and speaking
of our listening, AUDIENCE i want to let you guys
out there KNOW i really appreciate. You thanks for tuning
in to The road To Retirement. Show we have a
lot of. Fun we're helping people and we are experts

(43:20):
in what we, do helping you to get there and stay.
There we're talking about all things. Retirement and ALSO i
can't forsake giving a quick shout out to all of our.
Clients you guys are. Awesome without, you this wouldn't be.
Possible thank you so much for your, business and we're
really happy to be continuing to help you be independent
and in control on this road to retirement. Journey, so you, Know,

(43:43):
steve with over two decades of helping people do, THIS i,
mean it's, just you, know it's like it feels. Good
it's satisfying in a. Way you. KNOW i feel like
it's kind of part of my legacy is you, know
like getting people to to where they want to, go
and and all the time they thank, us they say
this is great and they feel better once they come
in and sit down with. Us and once they implement a,

(44:06):
plan they feel, better they do, better they're in, control
and they're enjoying. Retirement what more could you ask for
regarding this part of your? Life you?

Speaker 2 (44:16):
Know so who?

Speaker 3 (44:17):
Knows, yeah how about some. Questions let's get right into.

Speaker 5 (44:20):
It jump. In we've Got tina first In. Blythwood she's.
Wondering she says she's been maxing out her four oh
ONE k for years, now but now that her retirement is,
close she's unsure of how to start drawing money from
it without bumping into a higher tax. Bracket what's a
smart way to pace those?

Speaker 3 (44:39):
Withdrawals great, question and thank you for being a listener
and calling. In so What i'm recognizing right away is
that you are like most people out, there and you
do not have an income and a distribution. Plan this
is an integral part of you and. Retirement and What

(45:01):
i'm talking about now is a plan that demonstrates to
you when to take, money where to take it, from
how much to, take and how long it's going to.
Last and quite, frankly you just, folks you just cannot
move into retirement without What i'm talking about right, now
an income and a distribution. Plan so for, you, ma'am

(45:26):
we've got to just build. That and as far as you,
know bumping into a higher tax, bracket you, know maybe
there's some ways that we can do. That but, again you,
know if you are going into it another tax bracket
because of withdraws from a retirement, account it's not necessarily
a bad. Thing it means that you're able, to you,

(45:46):
know maintain your, lifestyle that you're able to do things
that you want to. Do so but a smart way
to pace those withdrawals is just to very carefully map
them out and have the income and the distribution plan
That i'm mentioning right now now where we talk about
where to take money, from how much it, take show
you how long it's going to. Last so come on,
in let's get, together let's build you the four letter,

(46:08):
word the pla in and we'll clarify this for. You
make sure you're doing things the smart way sounds.

Speaker 5 (46:13):
Good trip eight hundred and ninety four zero six nine seven.
Nine do give us a. Call we'd love to hear from.
You here's another one From jackson And. Shaw jackson And.
Sharon they're In gilbert and there are a couple sixty
four years, old they're thinking about retiring, early But cobra
coverage lasts only eighteen. Months medicare is not there. Yet

(46:34):
what's a good way to bridge that health insurance gap
without burning through?

Speaker 3 (46:38):
Savings, hey, guys a great. Question you, know that's kind
of a big thing retiring early Before. Medicare Obviously medicare
you're eligible for, it and one more year at sixty.
Five and it's kind of a nice thing that you
were able to Have, Cobra so that lets me know
that it hasn't been that long ago that you, retired

(46:58):
and that your employer, is you, know still offering you
a way to have health coverage through. Them and Definitely
cobra is very, expensive you, know a good way to
bridge that health insurance gap without burning through your? Savings you,
KNOW i don't really know if there's A i'm kind
of concerned that if you're saying burning through your, savings you,

(47:20):
know that you might not have a lot and that
and of, itself you, know is it could be, problematic you,
know strategic. WISE i, mean since you're not working any
taxiferred money that you do, have we since you don't
have earned, income it could be a great time to
take money out of a tax defer retirement account because

(47:40):
you're in a less less of a tax bracket and
then use that to pay THE cobra. Premiums but you,
know maybe you're fortunate to have AN hsa and you,
know you could utilize. That, also there's this thing called
short term Major medical and a lot of times in
my twenty plus years of helping, people we've used a
short term major metaic policy instead OF, cobra you. Know

(48:03):
and then there is also this thing called The Affordable
Care Act obamacare that you may qualify. For we've got
to have some earned income so you can get The
Advanced Premium Tax, credit you, Know so maybe that could
be an option VERSUS. Cobra you, KNOW cobra seems to
be the easiest way for people to just maintain health

(48:25):
coverage under age sixty. Five but you, know you have
a special enrollment period that you could pick, up you,
know something on the healthcare exchange with no health, care
no health questions, asked no pre existing condition, limitations you,
know and potentially get That Advanced Premium Tax, credit which

(48:47):
is a subsidies to lower your out of pocket. Costs
so you, know maybe we should just weigh through all.
That BUT i think this is a real common. Question
and also SOMETIMES i see that people don't retire prior
to sixty five because they wonder what can they do
about their? Healthcare so you guys kind of fall in that.
Category but you're just kind of going the more expensive.
Route let's just get, Together let's, analyze you, know what you're,

(49:08):
doing see if we can improve upon, it and let's
certainly try to avoid burning through the retirement. Savings you
don't want to help you as best. Possible so, again you,
KNOW i just would offer you to come on in
and let's sit down and work through all. That remember
At Limehouse, financial we're holistic. Planners we're helping you with
all aspects relating to the plan and that includes you,

(49:28):
know things like your health.

Speaker 5 (49:29):
Insurance, sure all, Right, Jackson, sharon give us a. Call
we'd love to hear from. You eight hundred ninety four
zero sixty nine seventy. Nine geneva's In colombia and she's
considering rolling part of her four oh one k into
an annuity to guarantee. Income but she's heard mixed opinions
about whether annuities are worth. It she's worried about locking

(49:49):
up too much of her savings and losing flexibility if
their needs or the market. Changes how should someone weigh
the pros and cons of using an annuity as part
of their retirement income.

Speaker 3 (50:01):
Plan great, Question, geneva and thank you for listening and calling.
In you, KNOW i think that at the end of the,
day this comes down to you having the four letter,
word THE P L A N a written plan for.
Retirement and you, know when we build those for, folks

(50:21):
we're taking into account where they are, now where they
want to, go how they can get, there and how
they can stay. There and we're balancing very carefully any
money at risk versus a safe money. Strategy so a
safe money strategy would be something like the, annuity and
it does have so much weight behind. It guaranteed income
is so, critical you, know income that you can never.

(50:42):
Outlive this is imperative for you to have and we
can help you with. That but there is a fine
line of how much how much to have there and
then how much to have a. Risk your liquidity needs
may change over, time so it's important for you to
make sure you guys are bolstering how much you have
in checking and. Savings you, know we recommend at least

(51:03):
twelve months of what it costs you to live just
sitting and checking and. Savings that, way you have a
really good amount of liquidity and as far as flexibility
when the market changes that you, know that's why you
want money At risk professionally managed by, us because we're
going to make sure that as the market, changes you,
know you're going to be doing good with, it and
when it goes, down we're going to be watching it

(51:24):
and adjusting the portfolio if. Needed SO i think it's
a combination strategy for both of you to be successful
on this. Journey and AGAIN i just go back to
WHAT i do so much on the. SHOW i talk
about the importance of just having a written plan for,
retirement you, know built by a team of experts that
know what they're, doing such as. Us they can help,

(51:46):
you you, know accomplish your. GOALS i, mean you guys
have worked very hard and you want to make sure
you do things. Right so, Overall i'd say that rolling
part of your four to one k into an annuity
to generate guaranteed income is a fantastic. Eye let's make
sure we choose the right one for, you though there's
a lot of them out there. Now At Limehouse, financial

(52:07):
we're functioning from a fiduciar, capacity only making recommendations in
your best. Interest so you can count on us to
go out, there find out which one is going to
work best for you and your, husband and then recommend
that to. You so thank you for the opportunity to help.
You come on, in let's do just, that. Folks i'm
so thankful that you spent time with us again today
on The Road Retirement. Show we got another great episode

(52:29):
coming up next. WEEK i invite you to tune in
for more Of The Roads Retirement show With Limehouse. Financial
also check us out ON. Tv we air three times
over the weekend here in The columbia. Marketplace we're ON, ABC, NBC.
NCBs we Air saturday morning at six thirty am On channel.
Ten we Air saturday Morning Suday saturday afternoon at twelve

(52:51):
o'clock On channel twenty, five and then we air A
sunday morning at eleven thirty On channel on. Nineteen so
you tune in for The Road RETIREMENT Tv show and
we'll just look forward to spend more time with. You,
hey last offer of the. Day it's for the next
ten callers in the next ten. Minutes it's for a
written plan for, retirement no cost or obligation to. You

(53:14):
you must come in to receive. This it's individualized. Customers
we will not just send this out in the mail to.
You eight hundred nine four zero six nine seventy nine
next ten callers in the next ten minutes will receive
a written plan for retirement at no cost or. Obligation,
hey it's been a lot of. Fun we've been cruising
down the. Road we're gonna do the same thing next,

(53:34):
week but until, Then god bless.

Speaker 2 (53:36):
You the information provided is for illustrated purposes only and
does not constitute, investment tax or legal. Advice information has
been obtained from sources that are deemed to be, reliable
but their accuracy and completeness cannot be. Guaranteed neither Trip
limehouse nor his guests are liable for the usage of information.
Discussed always consultable the qualified, investment legal or tax professional

(53:58):
before taking any.

Speaker 3 (53:58):
Action