Road to Retirement 06-07-2025

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):
Think your retirement spending will follow a straight line. Think again.
JP Morgan studied five million retirees and uncovered three surprising
patterns that could change how you plan. Get ahead of
the curb. With a smart and flexible strategy that's tailored
to your life. Coming up next, do you.

Speaker 2 (01:23):
Want to avoid taking a wrong turn on your retirement road.

Speaker 3 (01:27):
The road to retirement is a long one, and if
you just don't want to make rock.

Speaker 2 (01:32):
Rock, well, buckle up. We're getting ready to take a
retirement road trip together. It's the road to retirement with
Trip Limehouse.

Speaker 3 (01:40):
It's the perfect abound to map it out. That road
to retirement is.

Speaker 2 (01:44):
Key, is key, get on the road to financial security
and independence. Just like many of Trip's happy clients and
retirement partners.

Speaker 3 (01:52):
My money is safe using the green line principle that
you taught me about.

Speaker 4 (01:57):
Thank you so much.

Speaker 2 (01:59):
Let's get this trip started. It's the roads we're retiring
with Trip Limehouse.

Speaker 5 (02:06):
Hi, welcome and everyone. This is the road to retirement
with Trip Limehouse. Some Steve so Trip of course, got
behind the green line principle, helping folks for more than
twenty years. He along with his financial What do you
call Jonathan? He's your financial advisor, he's your investor advisor.

Speaker 3 (02:22):
He's my right hand man. Also call him he's my
future son in law. They finally said a date in
March the next year. Yeah, my investment advisor and uh
right hand man. Yeah, we keep things going here and
we're just having fun helping people. As we talk about
I know you were getting ready to say it to
the creator of the green line principle. Usually you bring

(02:45):
that up.

Speaker 5 (02:45):
Right when you mentioned that.

Speaker 3 (02:46):
Yeah, hop on here. Yeah, and I'll tell you what
we're having fun with that also helping people. I mean,
we are retirement income experts, social security experts, and you know, Steve,
this is what we're doing. We're meeting with people and
we're helping them. We're helping them to understand where they are,
and they're talking to us about where they want to
go and guess what, we're helping them to get there.

(03:09):
And that, by the way, that green line strategy, the
green line principle, folks, I want you to know while
I'm thinking about it now, everybody needs to have that
as a part of their plan. What is it. It's
a safe money strategy. Zero is your hero, You cannot
lose any of your money and a lot of upside potential.
And quite frankly, you know what we're seeing right now, Steve,

(03:31):
is people are coming in more and more than ever before,
and they're saying Hey, I heard you talk about the
green line. Tell me more. And then we're educating them
about how it needs to be a part of their plan,
not their whole plan. And usually the response is, you know,
what what do we do next? You know. So that's
good stuff. But back to this JP Morgan study. You know,

(03:55):
this is pretty.

Speaker 5 (03:55):
That's quite something. Yeah, I mean study. Yeah, Well, when
you talk of to what five million retirees, so I
know the conclusion spending doesn't stay level, you said that
it drops over time. That surprises me because normally we
think things are always going to go up.

Speaker 3 (04:12):
Yeah, yeah, normally we do. Well, let's talk about what's happening.
And you know, like you just mentioned, people do think
that their spending is going to stay flat, and some
people think it's going to rise, maybe, you know, due
to something like healthcare costs, which that could be true.
But here's what JP Morgan found out. In that study
of over five million US retirees. They found that most

(04:35):
retirees actually are spending less as they age, especially in
discretionary categories like travel or dining out or entertainment. And
you know why does that matter? Well, from our perspective,
what we see is that a lot of times people
out there overestimate how much income they're going to need

(04:57):
later in retirement, and that can cause people to delay retirement.
And those are two words that should really never go together.

Speaker 5 (05:05):
Right, No, once you retire, let's go for.

Speaker 3 (05:08):
It or delay retirement, right, I mean, yeah, we don't
want it delay. That's a that's a very rewarding part
of our job. What Jonathan, my investment advisor, and I
do is, you know, we meet with people and sometimes
they come in and you know, they they they're like,
I can't retire. It was fascinating. Recently we had a
couple come in and they had about one point six

(05:29):
million in their four to one ks combined, and they
sat with us and they're like, you know, we're thinking
we're going to have to delay retirement. And we said,
well why and they said, well, our goal was to
retire and have two million, but the market has changed,
you know, the direction in our retirement. And I said, well, yeah,

(05:50):
that's it can do that, That's what volatility is all about.
But I said, how about this, Let's just do what
we do for folks. Let's let's go through our process
and let's see where you're going to end up and
you know, we did just that and came back with
a written plan for retirement, you know, for this couple,
and we included in there an income and a distribution plan,
and it was fantastic, Steve. We showed them that they

(06:11):
did not have to delay retirement. They could in fact
go ahead and exit onto that road to retirement, you know,
and begin the journey as we so so talk about.
And they were just thrilled to death. I mean, you know,
she started tearing up. And we brought them on as
clients were working together, and you know, we're very thankful
for them and for their business, and they're thankful for us.
As a matter of fact, the husband said, he made

(06:35):
a comment and I thought it was like just magnificent.
I wrote it down. I put it on a sticky
note on my desk because you know, sometimes we all
have bad days at work and you know, you know,
if you look at a little sticky note somebody said
something nice, it can you know, uplift your spirits or whatever.
And but anyway, this this is the husband for this
couple said, this whole experience with you trip has been

(06:56):
life changing, life changing, and yeah, you know, I'm like
here I'm teering up, you know, and I said, well,
I said thank you, and you know, this is just
what we do to help you. And so they're thankful
to be working with us. We were thankful to be
working with them, and folks, you can work with us too.
Eight hundred nine four zero six nine seven nine eight

(07:19):
hundred nine four zero six nine seven nine limehouse financial
dot Com. Maybe you're thinking you're gonna have to delay retirement,
Well you could be wrong. Come on in and let's
find out. So back to the spending, and you know
why and how it doesn't stay level, you know, and
why it matters you know what's happening. I think that
you know, it could lead to people underspending early on

(07:43):
in retirement, steve, when they could afford to enjoy life more.
And we want to make sure that that doesn't happen.
We want to make sure people really are spending their money.
There's this there's this fallacy out there like that people have.
You know, I can't spend my money, can't spend my money. Well,
here at Limehouse Financial, we're encouraging our clients to spend

(08:05):
their money. We're like, yeah, spend it. But you know,
the key behind it though. To ensure success is having
a plan, the four letter word, the P L A N.
You have to have it, and it really sets people free.
I love that because you were setting people free. We're
showing people how they can do the things they've always

(08:28):
thought about a wanted to do and not run out
of money and preserve and protect money and have money
professionally managed for them in a portfolio that's proper, you know.
So here's some smart moves for you, folks. You need
to plan for the go go years, the slow go years,
and the no go years. And so think of your

(08:49):
retirement in stages. Okay, the active years that'd be the
go go years, yep, the slower paced years that would
be the slow go years, and then the final phase
which would be the no go years. And you know,
probably not a lot of discretionary spending happening at that
point in time. Well, let's let's work together to customize

(09:11):
a withdrawal strategy for you that that totally revolves around
an income and a distribution plan. And folks, if you're
out there now and don't have an income and a
distribution plan, you could be setting yourself up for failure
in retirement. So make sure you ask us about the
Income and Distribution Plan eight hundred nine four zero six

(09:33):
nine seven nine. Also, there's this rule out there, Steve,
we talked about it, you know, the four percent rule.

Speaker 5 (09:40):
You know, Yes, I'm familiar.

Speaker 3 (09:43):
Well, I want to I want to encourage people to
not rely on that.

Speaker 4 (09:47):
You know.

Speaker 3 (09:48):
I think sometimes they people read about rules, or hear
about rules, or watch a YouTube video and rules and
they're like, yeah, that's it. You know, folks, I don't know,
don't rely on rigid rules. OK. Let's adjust as your
lifestyle evolves, and let's reevaluate on a regular basis. Let's
review your budget on an annual basis and make sure

(10:09):
it aligns with you, you know, your spending habits and
your needs. And this is the type I love this
because this is the type of work that we do
here at Limehouse Financial. We're not just you know, doing
transactional business. We're actually working with you on an ongoing basis.
And an example of that is I just did an
annual review with the client that we've had on board

(10:31):
with us for three years, and and so we were
we were reviewing how twenty twenty four ended up. Okay,
and you know, May twenty seventh was their annual review date.
So you know, we took a look at how things
you know performed in the last you know year, right,

(10:52):
and in our in our written plan for retirement, the
retirement roadmap as we so call it, we we have
line items for healthcare, for inflation, for taxes, uh, lifestyle goals,
and then the retirement income goal. Thats just needed just
to you know, to maintain your your living anyway. So
we got out their plan and we just reviewed it

(11:15):
and we said, let's look at last year. And I
asked this, this couple, Okay, how did it end up?
Like for on their end? I mean I knew how
all their money ended up, because we have all those figures,
you know, the green line principal strategy worked great for them.
Their their portfolio performed well, all that stuff right, But
I didn't know like how their spending went. So we
got out all that stuff and we matched all the

(11:36):
numbers up, and a wonderful thing happened. We were right
on track for where we said we would be. And
it just it made them so happy and it made
me so happy. And I'll just tell everybody out there,
we're not perfect sometimes we're behind, you know, if the
market underperforms, and sometimes we're ahead if the market overperforms
or performs well. But in general, we're right where we

(11:57):
say we're going to be. And and you know, as
an income and a distribution planning expert, I really like that.
As matter of fact, I read an article Steve. It
might have been on Forbes or something like that. I
can't remember. I mean, I'm an avid reader of you know,
financial news and this and that, but this particular article
was talking about how the market has changed so much

(12:18):
and is constantly changing, and and it was talking about
how important it is to work with an expert that
focuses on income and distribution planning. And I read that
and I was like, I've been talking about this for
a long time, right, yeah, And the and the the

(12:39):
author of this article said, you know, it's like a doctor, right.
You know, if you're if you break a bone, you're
going to go to an orthopedis, You're not going to
go to your general practitioner. And that's a great comparison
that people can understand. Folks. I want you to understand
that we're here to help you look at all of
this stuff. We're here to help you understand if you
can retire now. We're here to maybe demonstrate to you

(13:02):
that you don't need to delay retirement, or if you do,
we're here to tell you that as well. We're here
to help and I want to do just that. Eight
hundred nine four zero six nine seventy nine Limehouse Financial
dot Com. Hang on, We're going to come back with
some more on this study and what you can do
to be healthy during retirement. We continue to talk about
those things, but right now, I have an offer for
the next ten callers in the next ten minutes, and

(13:25):
it's for a written plan for retirement built by our
team O certified financial professionals, provided to you at no
cost or no obligation. You must be one of the
next ten callers to receive this. Also, this is not
something that we're going to email you or mail you.
You must come in and go through our process to
receive this. The next ten callers in the next ten
minutes we'll receive a written plan for retirement at no
cost or obligation.

Speaker 5 (13:47):
Sounds great trip eight hundred and nine four zero six
nine seven nine. Really, that's the goal of the show,
helping you make the best decisions for you when it
comes to your retirement. So if you do have questions
about what we're talking about, maybe how it applies in
your own situation, give Trip a call right now eight
hundred nine four zero six nine seven nine. Eight hundred
nine four zero sixty nine seventy nine. Were to take
a quick break, but we will come right back and

(14:07):
continue on the road to retirement with Trip Limehouse right after.

Speaker 4 (14:15):
Do you ever feel like you are fighting for financial knowledge?
Don't let bad advice be a punch in the gut
chane you're a 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 sixty
nine seventy nine, or text Trip tripp to eight hundred

(14:36):
and nine four zero six nine seven nine. That's eight
hundred and nine four zero six nine seventy nine, or
text Trip to eight hundred and nine four zero sixty
nine seven nine.

Speaker 5 (14:49):
We're back on the road to retirement with Trip lime House.
Some Steve so All, the Trip has been helping folks
for more than twenty years getting into and through retirement.
Then along the way, having some fun. Oh that's what
you do. I mean, that's that's really the one of
the fun things about you and what you do and
Jonathan and your whole team. You know, you make it
a fun process. Well it's not stressful.

Speaker 3 (15:11):
Yeah, it's pretty laid back around here. Really comfortable was
probably a number one word people say is, uh, this
has been very comfortable. And we're you know, that's that's
by design. You know, we're just uh, we're here to
use our god given ability to help people understand, you know,
where they are and what they need to do. And

(15:32):
that doesn't necessarily mean that everybody, you know, becomes a client,
but most people that walk through the door will ask us,
what do we do next? How do we work together?

Speaker 4 (15:41):
You know?

Speaker 3 (15:41):
I mean we're talking about right now a study and
it was a pretty big study too. I mean, JP
Morgan studied five million retirees. I think that's a that's
a pretty significant number, right, you know, it wasn't just
like thirty five And you know what they uncovered was
that there are some surprising patterns that really could change

(16:04):
how people plan. So, you know, you and I were
talking about this episode, how we wanted to really help
people kind of get ahead of the curve with some
you know, smart and flexible strategies that we're going to
be tailored to real life. Our first segment, we you know,
we talked about how spending doesn't stay level right typically
it's going to drop over time. I'll go back and

(16:25):
talk about how we mentioned phases of retirement. We talked
about the go go years, the slogo years, and the
no go years. And you know, I also talked about
how we encourage our clients to spend their money, and
we do so in a very methodical way, ensuring that
people will not run out of money, and that has

(16:46):
to do with the income and the distribution plan. We
kind of wrapped up talking about how people need to
reevaluate on a regular basis. You know, they really need
to review their budget and make sure it is aligning
with their spending habits. And and you know the benefit
of working with an expert like myself and like my
investment major Jonathan and Riley, is that we're helping to

(17:08):
facilitate that on an ongoing basis. We're seeing you know,
like where are you how are we doing with this
whole thing? Well, I want to talk now Steve about
what we sometimes see and it's called a spike if
you will, and spending right before and right after retirement,
and like what's behind that, let's kind of unpack that.

Speaker 5 (17:28):
Okay, okay, sure, So what is so? I mean I
can see where the spike and spending when when you
first get you we're talking the go go heres. I
want to go go, you know, and I'm going to
spend more money.

Speaker 3 (17:40):
Yeah, yeah, definitely. And that is the time when we
encourage people to spend more money. Why during that first
period of time, because you can typically go and do things.
It's the go go years. You're healthier, you're younger. You
might not think you are, but you are younger, you know,
and you can you know, tackle things that you might
not be able to tackle later on. So right around retirement,

(18:03):
a lot of people are encountering a boost and spending.
So I would say think along the lines of like travel,
maybe home renovations, and some people even do you know,
something like starting a small business that they've always thought
of but they couldn't do because they were in a
corporate job or whatever. You know, why does this matter? Well,

(18:26):
the thing is if it's not planned for this, if
you will celebration phase. It really can lead to early
portfolio strain. And folks, I'm I'm not sure if you're
aware of this, but those are two words that should
never never go together either, but often do portfolio strain. Yeah,

(18:47):
what does that mean? Well, you've got to set amount
of money when you retire. I mean, you know, typically
we're working with people that have seven figure or more
portfolios and you know, they're coming in, they're seeing us
and they're like, hey, I have this, and now what
and we're you know, building a plan for them, a
retirement roadmap if you will, to show them how to

(19:10):
spend the money and and you know, how to never
run out of money, how to preserve and protect money.
By the way, folks, right now is a great time
for you to know how to preserve and protect your money.
Visit green Line Principle dot com to learn more. I'm
very proud of the green Line Principle, trademarked it with
the United States Patent Office. And and what is it.

(19:32):
It's a safe money strategy where zero is your hero,
you cannot lose any of your money, and you have
a lot of upside potential, Okay, And it's a it's
a great in lieu of bonds and fixing income securities.
It's a great strategy. Everybody needs a safe money strategy. Okay,

(19:52):
ask us about the green line principle. You know, having
that incorporated into your plan A allows you to do
things like we're talking about now, you know, spend money
during the go go years, avoid portfolio strain. Okay. So
what we see, Steve, is that when this happens, when
there's a spike in spending right before and after retirement,

(20:13):
people panic later and and maybe they should, you know,
they think they've overspent. And the reality is for a
lot of these people, it's just like a temporary bump
in the road, you know what I mean, Like they
just they were going through a phase. I mean again
we said it like celebration and they just it doesn't

(20:33):
mean it's going to continue like that. So what, like,
what could people do about it? Well? I think something
like a launch fund, not a lunch fund. That's a
good idea. That's a good idea too, a lunch fund,
but a launch fund would be appropriate for most people

(20:54):
out there. What is that, Well, set aside extra savings,
if you will, folks for the first few years of
retirement to if you will handle these lifestyle upgrades and
and I want you to anticipate and expect a ramp
up period. Okay, don't let a short term spike scare

(21:15):
you because typically it's going to be temporary. And also
incorporate a budget that's flexible for you. Okay, let's plan
for discretionary fund money if you will in the early
years of your retirement without compromising future needs. You know. Ultimately,
we keep going back to the four letter word, the P, L,

(21:38):
A N. And how does that help people, Steve, you know,
to do the things we're talking about.

Speaker 5 (21:44):
What do you well the thoughts on that, Well, as
you say, it's a written plan, and that way we
know what we're doing. I mean we know, Okay, I've
got money that I that i can use today, and
I've got money that I'm going to use ten years
from now, fifteen years from now. That's why you have
the plan. It's fair, you can do that.

Speaker 3 (22:03):
Yeah, it's a very it provides It provides you guys
out there listening with a very clear picture of all
the stuff that we're talking about. I Mean, the scary
thought is retiring and then running out of money. It
happens to people all the time. You know, that's longevity risk.
The number one risk you face during retirement is outliving

(22:24):
your money. Well, when we build a written plan for
retirement for you, the retirement roadmap, you're never going to
face running out of money. That's just the bottom line.
We ensure that that does not happen to you. Okay,
So there's no reason to be scared about, you know,
spending money. We just need to do it in a

(22:46):
smart and a smart manner and you know it has
to be crafted carefully that overall plan. I want to
give a quick shout out to all my clients out there.
You guys are awesome and you mean so much. Jonathan
and I really appreciate each and every one of you.
Without you, this wouldn't be possible. Thank you for your business.
You were awesome and we look forward to seeing you

(23:07):
at our next client event. So and also, folks of
you have never listened to the show, welcome in. We're
on the weekend. Throughout the weekend, every weekend fresh content.
Continue to tune in and you can also find us
on iHeartRadio, Google, Spotify, Apple. On the podcast, we turn
the show into a podcast that you can actually subscribe

(23:28):
for It's out every Friday and you go back and
listen to this episode or other episodes. And one more
thing to mention is that we're on TV throughout the
weekend too. We're on CBS, NBC and ABC Saturday and Sunday.
And check out the Road Retirement TV show. Limehouse Financial
dot Com is where you find us on the web.
Another place you're going to find us. I got to

(23:49):
mention this is this coming Saturday, June the fourteenth. We're
going to have an event at nine am at the
Lexington County Chamber of Commerce. This is a social Security
and income planning workshop. It's going to be at nine
a m. On Saturday, the June the fourteenth at the
Lexington County Chamber of Commerce. And right here in Lexington,

(24:09):
we're going to do breakfast. So we're going to serve
you breakfast, no cost or obligation, and we're going to
talk about all the things that we continue to mention
here on the show. You can come out and learn
more about social security and income plaining and a whole
lot more. If you want to attend this, the invitation
is there for you, but you must call in to
make a reservation eight hundred nine four zero six nine

(24:32):
seven nine eight hundred nine four zero six nine seven
nine if you want to attend that event Saturday, June
the fourteenth, no cost obligation. Breakfast will be served.

Speaker 5 (24:43):
What are you going to order, Steve, I'm going to
go for I'll go something simple. Just have a bagel,
maybe a little cream cheese.

Speaker 3 (24:49):
Huh, bagel of creamy? Something easy?

Speaker 5 (24:52):
Okay, something easy?

Speaker 6 (24:53):
Yeah.

Speaker 3 (24:53):
Well, I'll tell you what. One of these days we're
actually going to have you at one of our events
and people will be able to meet you there and
your request will be served.

Speaker 5 (25:02):
So fair enough. Well, then let me be a little
more elaborate.

Speaker 4 (25:07):
Some Uh.

Speaker 3 (25:09):
What does I'm thinking about? Hollanda has holiday sauce on it?
Oh yeah, yeah, yeah, it's an egg benedict.

Speaker 4 (25:14):
Right.

Speaker 3 (25:15):
You do it so many different ways too. I got
me thinking about food now. Sorry, folks, didn't mean to
give everybody all excited about but about breakfast today. But
it will be on next Saturday, on the fourteenth at
the Chamber. Liked yep, Then we're gonna celebrate it so great.
People also can log onto limehouse Financial dot com limehouse
financial dot com under the events tab and learn where

(25:39):
we're going to be and what we're going to be
doing to register for that event. So, yeah, we've been
talking about spending habits and patterns and the importance of
an income and a distribution plan. Stay tuned. We're going
to kind of continue on with that as we move
forward in today's show. But right now, I want to
give a special offer for the next ten callers in
the next ten minutes, and this is for a written
plan for retirement built by our team of financial professionals,

(26:01):
provided to you at no cost or obligation. You must
be one of the next ten callers in the next
ten minutes to receive this. Also, I want to make
the point that this is not something you can call
and say, hey, email me, or send to me in
the mail. You must come in go through our process
to receive this written plan for retirement no cost or
obligation to you. Next ten callers in the next ten minutes.

(26:22):
Eight hundred nine four zero six nine seven nine sounds great.

Speaker 5 (26:29):
Trip Advice like that shows you how important it is
to meet with a financial coach like well, like Trip,
somebody who truly understands the ins and outs and ups
and downs of the financial world. Do take advantage of
the opportunity. Make sure that you are on the right path.
That path is based on your risk references, your budget,
and of course your goals. Eight hundred ninety four zero
six ninety seven nine, eight hundred nine four zero sixty

(26:50):
nine seventy nine Quick break for us. We're back with
more the Road on the Road to Retirement with Trip Limehouse.
Right after this.

Speaker 7 (27:02):
If you remember these TV shows you're getting ready to retire,
and everybody.

Speaker 5 (27:06):
See a big pair of feet or cheesy mustache, I'll
think of you.

Speaker 3 (27:11):
You guts well, I hate.

Speaker 7 (27:14):
I'm one guy who ain't prejudice against anybody who may
be less superior than me. It kind of sneaks up
on you, doesn't it.

Speaker 3 (27:22):
Oh geez.

Speaker 7 (27:24):
You deserve a secure, independent retirement, a retirement that is
prepared to handle pitfalls like inflation, health emergencies, stock market volatility,
and taxation. You worked hard for your money and will
work just as hard to protect it and grow it.

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

(28:04):
nine seventy nine.

Speaker 5 (28:08):
We're back on the road to retirement with trip Lionehouse.
Having a nice drive, de beautiful out here today and
really enjoying the day and enjoying my road into retirement.
And you got me going here with this. I like this,
you know, yeah, bucket list items. And that's an important
discussion to have, isn't it. I mean, when when you
sit down with them and you know, you say, well,

(28:29):
what do you want to do? When you know when
you ask, if you ask me that question, it's a
difficult it's a difficult question to answer.

Speaker 3 (28:37):
I think it's a difficult question for a lot of
people to answer because in general, we all get so
caught up. And it's not a bad thing, but we
get so caught up in what we're currently doing. You know,
where we are and what we're doing, and I think
because of that, it's sometimes difficult to kind of assimilate
what we're what we want to do like later, you

(28:57):
know what I mean? Right, I think everybody I can
probably relate to that. But one of the things I
like to point out to our listening audience, Steve is
that here at Limehouse Financial, we really focus on the person. Okay, uh.
We spend a lot of time just learning about, you know,
where somebody is and talking about what you and I

(29:19):
are mentioning on this episode right now, what's important for
people and what have they thought about? What what do
they always wanted to do? Helping helping a person that
we're sitting with at the conference able to to you know,
understand like what does it actually cost them to live
what's going to cost them to live in retirement? A
lot of people aren't living on a budget and don't know,
you know, we're working through numbers like that and and

(29:41):
this isn't you know. We we help people with all
financial backgrounds in general. The people that we're working with
have seven figure portfolios, are coming in and and they're saying, Okay,
what do I do now? And we're helping them, you know,
from this point forward. But a lot of people, you know,
don't have you know, necessarily a million bucks or too
many in a portfolio. Maybe they have four or five hundred

(30:01):
thousand dollars, but something that's similar between the people that
have you know, four or five hundred thousand dollars or
have two million. Is that oftentimes they just don't know
maybe what they want to do when they quit working,
and they don't know how long their money's going to last,
and where to take money from, you know, what what
part of their account to take money from. You know,

(30:25):
they don't know how to preserve and protect their money.
And and we're talking about all that stuff, and we're providing,
you know, education for people, and then through that education,
you know what, people are making up their own minds
as to whether they want to become a client, and
most of them are. Let's talk about some fast facts,
if you will. How about this recent study from Edward

(30:45):
Jones an age Wave found that sixty nine percent sixty
nine percent of retirees say their top goal in retirement
is to travel. Okay, I think that's pretty cool. But
yet more than half of retire he's worry about running
out of money. Okay, more than half worry about running
out of money. And the average retirees spend more in

(31:07):
the first five years of retirement than any other time.
And those are the go go years, as we've been
talking about on today's episode. Just to real quickly define
what are the go go years, folks. Those are the
years early on in retirement, not necessarily any particular age,
but let's just say maybe sixty five to seventy five.
You're healthy, you're active, and you're ready to enjoy life

(31:28):
to the fullest. And then after that, typically people move
into the slow goo years, where they're doing less, spending less,
and then ultimately the no go years, where health or
energy limits what you know a person can do. So,
you know, I mean, how you're you were bringing this
point up. How do people make the most of the

(31:49):
go go years? Well, let's do it without busting their budget.
Let's talk about it some practical strategies. Practical strategies. Number
one would be to prioritize maybe I don't know, let's
just say your top three How about that, your top
three bucket list goals. So Amy and I my beautiful wife.

(32:12):
By the way, Honey, I love you so much, or
my best friend and I love our life together. You
mean so much to me. But Amy was saying, Honey,
you know, like, what are your what are your bucket lists?
You know, what's your bucket list? And I was like, gosh,
I'm really gonna have to think about that you know.

Speaker 5 (32:28):
Yeah, and.

Speaker 3 (32:30):
Folks, I'm asking you right now, you know, prioritize your
top three bucket list. You really might have to think
about that. But I don't know. Remember, not everything has
to happen all at once. I can relate to kind
of thinking that, Steve. Can you like, oh, I just
got to get it done. I got to get it done, right.

Speaker 5 (32:46):
Yep, gotta do this, gotta do that. Yeah, but it
doesn't have to all happen the same.

Speaker 3 (32:50):
Week, yeah, or the same year or I mean, you
know that's true. I think let's just like really imagine
what we want to do and then you know, do it.
Like well, I mean I did tell Amy, like one
of mine is I want to go to Tahiti and
stay on one of those huts right on the water
for like maybe like ten days or something, right just
right on the way. Have you seen pictures of those?

Speaker 5 (33:11):
Oh I have? Yeah, No, I watch a lot of
travel shows like that.

Speaker 3 (33:14):
Yeah. I just think shells, Yeah, say shells the islands, yes,
not not not seashells. You probably can find some if
you go to shells on your Is that on your
bucket list to go to?

Speaker 2 (33:33):
Yeah?

Speaker 5 (33:33):
Absolutely, Well, somewhere in that world.

Speaker 3 (33:35):
Yeah, it's just some. Yeah, I think it's far. Those
flights I think are like eighteen hours horrible. Yeah, I
mean I'm gonna say for first class for that.

Speaker 5 (33:45):
Trip, I think that's required.

Speaker 3 (33:48):
It's a long way to fly, right. Yes, by the way,
I'm gonna have to look at the say shells to know.
Maybe that would change my mind from Tahiti, but yeah,
I think that. Folks. You know, just remember everything doesn't happen,
have to happen at once, and focus on the experience
that means the most to you and that you're physically
best equipped to enjoy.

Speaker 5 (34:08):
Now, Okay, it's about the experience, isn't it.

Speaker 3 (34:11):
Yeah, it is the memories that are made the experience.
I like, for some people, a bucket list could be
I want to take my kids and grandkids, you know,
to this place and us just be there together, you know.
I mean that's we hear that a lot, right. That's
something like people say I've always wanted to do when
I've retired, take everybody here, you know, or I mean,
it could be so many different things, right, So prioritize

(34:33):
your bucket list goals, and then, folks, I want you
to build a fun fund a fund fund, right, so like,
what does that? What does that look like for people?
How about this, let's just create a separate savings account
just for bucket list items. Okay, yeah, just for bucket

(34:55):
list items. This is going to keep your core retirement
income safe and that's really important. So contribute to it
gradually and even after retirement, still contribute to it. You know,
this could be like a lot of our folks. I mean,
we've been doing planning for people for over twenty years.
A lot of our folks are taking required minimum distributions
and uh and they're like, you know, I don't need

(35:18):
them or want them, and we're saying, hey, put that
in your fun fund. You know, that's still contributing to
it even after they're retired, right, or some people are
getting tax refunds, or maybe if they're downsizing, you know,
there's some proceeds from the sale of a home. You know,
consider that, you know, for for this fun fund. You know,

(35:39):
Amy and I have set up a travel account and
you know, we're really liking traveling together and taking the
kids as much as we can, and you know, so
it's it's been important for us to budget for that
and put money in that travel account to go and
do these things, and that way we're not going, Okay, well,
how are we going to pay for this?

Speaker 2 (35:57):
Right? You know?

Speaker 3 (35:58):
So just some continue on with some practical tips. How
about this travel smarter not pricier. How about that travel
smarter not priceier. I think it's kind of common sense,
but a lot of people might not even think about that,
right because travel could be a whole new thing for
them since they haven't been able to do it because
they've been working. Right.

Speaker 5 (36:17):
Yeah, well, and again I like the idea of taking
advantage of seeing your discounts. Boy, from the moment I turned.
I think the first time you can do that is
when you're fifty, and I've been doing it ever since.
So you've been I'll go into a movie and spend less.

Speaker 3 (36:29):
Absolutely, you've been doing it like two years then, yeah,
a couple of weeks.

Speaker 7 (36:35):
Me too.

Speaker 3 (36:36):
So oh that's a great tip for people. Yeah, definitely
take advantage of any age related discounts that are available. Also,
off season rates are awesome and reward points are great too.
I mean they're just fantastic. Amy and I were looking
at you know, we've become pretty savvy credit card users

(36:57):
and you know, we use pay them off us and
pay them off us and pay them off never carry balances,
you know, to God be the glory for that, because
there are many years when I had balances and the
interest recrued, you know. But we use them responsibly now,
which I encourage all you guys out there to do too.
But take advantage of those cards that you give your
rewards and then you know, use them to like book vacations.

(37:20):
That makes sense. And off season rate are awesome too.
I mean, we were looking at some beach properties just
to go hang out, you know, three four nights down
in Charleston, and man, I'll tell you what. You know,
hotels that usually are six seven, eight hundred bucks. You know,
you get them at the right time and off season
and they're you know, three point fifty at night, you
know or whatnot. So how about this too is kind

(37:41):
of a cool strategy. And I've seen a lot of
clients do this. They they go for longer stays in
fewer places, you know.

Speaker 5 (37:47):
So okay, they do that makes sense.

Speaker 3 (37:49):
Yeah, it's not not so hectic, and they make great memories.
So that's a tip for you. I want people also
to plan for big stuff early think about front loading
your bigger goals in the first five to ten years
of retirement when health is on your side. You know,
I mean that trip to maybe go somewhere, you know

(38:10):
that could be more challenging to get around, you know,
a lot of walking, a lot of climbing up steps,
a lot of moving around. You know, maybe know better
to do those those kinds of things when you're younger
in those go go years. So that leads me to
this one. I think budgeting backwards is a pretty good idea.
So folks, just estimate the cost of your top goal

(38:32):
that you might have and then just plan a monthly
savings to reach it. So there's some tools out there
that can help. One of them is meant. Another one
is you need a budget. They can help you track
your progress and stay motivated. At limehouse financial dot com
you can download under the resources to have a budget

(38:53):
worksheet and that can help you as well. So you know, folks,
I want to invite you to our workshop we're doing
on next weekend, 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. It's a social security and income planning workshop
nine am this Saturday, June the fourteenth, at the Lexton

(39:16):
County Chamber of Commerce. For those that want to attend,
you must call eight hundred nine four zero six nine
seven nine or visit limehouse Financial dot com and registering
into the event's tab. Hey, this offers for the next
ten callers in the next ten minutes. It's for a
written plan for retirement built by our teamo certified financial professionals,
no cost or obligation for the next ten callers in

(39:36):
the next ten minutes. A written plan for retirement calling
now it's yours.

Speaker 5 (39:42):
Give us a call eight hundred and nine four zero
sixty nine seven nine. Great opportunity to sit down with
Trip and the team and put that plan together. Make
the call while you're thinking of at eight hundred nine
four zero six nine seven nine. Eight hundred nine four
zero six nine seven nine. Quick break, We're back with
more right after this.

Speaker 4 (40:04):
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 ache or you well, of course you want.

Speaker 6 (40:18):
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.

Speaker 4 (40:35):
You need a retirement partner. You need someone looking out
for your best interests and building a plan for you
based on your situation. Call trip Limehouse at eight hundred
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

(40:56):
six nine seventy nine, or text trip to eight hundred
and nine four zero six seventy nine.

Speaker 2 (41:02):
If bad money habits to strain your financial progress, it's
time to alter your behavior.

Speaker 3 (41:07):
Here's another bad money habit to.

Speaker 2 (41:09):
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 powered, and some knowledge of
the financial world can be empowering. Now we're not talking
about getting a degree in economics from Harvard, but reading

(41:30):
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 a

(41:54):
day will keep the bad money habits away.

Speaker 5 (42:02):
We are back on the road to retirement with Trip
Line House. I'm Steve Sodaul. This is something that we
have had a fun show today. Trip covered a lot
of ground. I like to talk about the you know
kind of getting ready and doing the big things, doing
the fun things. We spent a lot of time talking
about being able to do fun things in retirement this time.
And one of the ways that we can do that,

(42:22):
I think is to you know, utilize the green line
principle that is you and and really just a great
way to save a great way to protect your money.

Speaker 2 (42:32):
Yeah.

Speaker 3 (42:33):
I couldn't agree more. And as always, thank you for
bringing that up for our listening audience. So some people
may have heard us talk about that a lot. By
the way, for our long time listeners, welcome back to
this show. We're so thankful for you and for your
support and if you're new, welcome in. Continue to tune
in and be a part of the family. But we
talk about the green line principle. What is it? What

(42:55):
is the green line principle? Well, it's a safe money
strategy were zero is your hero and you can't lose
any money and you have a lot of upside potential,
so to kind of you know, continue with what you
were saying, Steve, how can people enjoy retirement and not
be stressed out and have fun and do things and
be successful. Well, one of the ways is by implementing

(43:18):
the green line principle into part of their plan, and
we can show you how to do that here at
Limehouse Financial. Everybody needs a safe money strategy. By the way, folks,
this may be the most opportune time for you to
capture what has happened in the market and put your
money to work for you from this point forward without
being susceptible to market volatility. Green line principle is a

(43:41):
way for you to do that. Eight hundred nine four
zero six nine seven nine limehouse financial dot com to
learn more.

Speaker 5 (43:50):
So well, and again, you can learn more by attending
the seminar you got planned for Saturday the fourteenth.

Speaker 3 (43:56):
Yeah, coming up this next weekend. We love our events.
We get a lot of great feedback from people that attend,
and I would like to invite our listening audience to
this upcoming event Saturday, June fourteenth, nine am at the
Lexington County Chamber of Commerce. And it's going to be

(44:18):
a breakfast event, so we're serving breakfast and this is
no cost or obligation to you. And this is Social
Security and Income Planning Workshop nine am, Saturday June the
fourteenth at the Lexington County Chamber of Commerce. Folks, if
you can attend that, you must call in eight hundred
nine four zero six nine seventy nine to reserve. That way,

(44:40):
we have enough food for everyone. You also can visit
Limehousefinancial dot com under the events tab, click on that
event and register that way. We'd love to see you
guys there. So thanks for bringing that one up, Steve.

Speaker 5 (44:53):
Sure, no problem. Well let's jump into some of these
questions here while we've got time. Here's a couple, it's
any Jason. They're in Columbia. They're both sixty eight years
old and recently retired. They're pulling money from their IRA
for income, but they're wondering if it makes sense to
start converting it, or at least part of it to
a ROTH now that their tax bracket is lower. Could

(45:14):
paying a bit more tax now save them more down
the road?

Speaker 3 (45:18):
Hey, Annie, Hey Jason, thanks for being listeners on the
Road to Retirement show. A great question. I tell you,
one of the things we love about these questions is
that maybe someone else is wondering the same thing, but
they didn't call in an ask. This is one that's
going to help. This answer is going to help everyone
out there. So could pulling from your IRA now and

(45:39):
then doing ROTH conversions makes sense? Yes, it could if
the only income you have right now. They didn't mention
anything Steve about having social Security or having pension, or
having rental income or anything like that. But if the
only income then Annie and Jason have is what's coming
from their iras, they probably are in a lower tax bracket, okay,

(46:01):
and it could potentially make a lot of sense to
maybe take additional money out over what it costs them
to live and do some WROTH conversions. So potentially paying
a little bit more tax now could save you down
the road. I think taxes are on sale right now,
and roth conversions are effective for people. But we do

(46:22):
what's called up So Annie and Jason, what we do
what's called the Wroth Conversion analysis the RCA, and I
would want to do that for you to ensure that
doing Roth conversions is in fact the best thing for you.
We function from a fiduciary capacity at Limehouse Financial. We
only make recommendations that are in your best interest. So
before we're saying, oh, yeah, do a Roth conversion, we

(46:43):
want to do an analysis and make sure that it
is the best thing for you. Okay. And by the way, folks,
if anybody out there is considering a Wroth conversion, I
would encourage you to visit Limehouse Financial dot com or
give us a call at eight hundred nine for zero
six nine seven nine and ask us about the RCA,

(47:05):
the Roth Conversion analysis. I would offer that no charge
to anybody that would call in and ask about it
or submit a query on our website. So, any and Jason,
I think you are going down the correct road. Let's
just build you a plan and let's potentially include some
Roth conversions in it. Let's make sure we don't get
you to the you know, two or three tax brackets

(47:27):
up though, we had to do it in a smart
man or. Hey, thanks for calling in and we'll look
forward to working with you.

Speaker 5 (47:33):
All right, eight hundred nine four zero six nine seven
nines number you can call. We've got Robert and Anita
in Lexington and they've got a mix of bonds and
dividend stocks, but they're concerned that fixed income won't keep
up with rising expenses over the next twenty years. How
can retirees protect their purchasing power without taking on too

(47:53):
much risk?

Speaker 3 (47:55):
Hey, guys, great to have you call in. Certainly appreciate
you you listening, and that's a that's a great question.
I like the fact that you maybe have some diversity
in your portfolio. You mentioned a mix of bonds and
diving in paying stocks. I think that the concern that
fixed income won't be won't be keeping up with rising

(48:17):
expenses over the next couple of decades, it's pretty real,
you know. How do you protect against them that? Well?
I think overall, Uh, there's one simple four letter word.
It's P L A N. And I'm not simplifying that.
I'm just saying that when you have that in place,

(48:38):
you take into account inflation over a long period of
time and how it does affect your retirement and so
so basically what I'm sharing with you is this retirement roadmap,
this written plan for retirement. When we build it for you,
we're accounting for that and we're ensuring that even with inflation,

(48:58):
which is very real, you're still going to have a
good retirement success rate. And at the end of the day,
for everyone out there, that's what it's about, a retirement
success rate. I would encourage everybody to visit retirement successerrate
dot com to learn more specifically to learn more about
how you can find out about your retirement success rate.

(49:22):
So on the subject though, since you've got bonds, I
do want to share with you that you know, the
bond world is changing, not necessarily performing as it always has.
And in lieu of bonds and fixed income securities, I
think you guys are a good candidate for the green
line principle because the green line principle is going to
give you the safety that's important for you. But it's

(49:45):
gonna because you can't lose any money. Zero is your hero,
but it's gonna give you more upside potential. So it's
truly no risk, but a lot of upside potential. And
I think that having the green line principle in place,
you can maybe invest more aggressively than otherwise you would
have done previously, and those dividend paying stocks continue on

(50:06):
with them. I mean, my investment adviser, Jonath O'Reilly, he
helps people all the time and dividend paying portfolios, and
they're fantastic. Over time, he can get capital appreciation, you
can outpace inflation, and you can get those dividends. So
you know, how can you protect your purchasing power. Well,
let's just continue to do what you've been doing and
improve upon it. At the end of the day, we're

(50:27):
helping people do better. Folks. If you'd like to do
better with your retirement, I encourage you to call in
right now. Eight hundred nine four zero six nine seventy nine.
I'm sure if you could do better, you'd want to
know about it. And you're in the right place, all right.

Speaker 5 (50:44):
Absolutely, all right, We've got another one. Christy is wondering.
She's got a four to oh one K with limited
investment options, but she's worried about fees and potential penalties
if she makes a mistake rolling it over. So what's
the best way to handle a roll over without triggering
unnecessary costs. We'll just call a tripe.

Speaker 3 (51:05):
Yeah, yeah, uh, you know I think that Christy, that's
a great question. You know, this is a new thing
for people when they start considering rollovers, and and a
lot of people aren't familiar with how it works. Just
to simplify it, you know, every day we work with
millions of dollars and we help people with their four
ones okay, And what we do is we set up

(51:25):
I rays and then we help people, uh initiate rollovers
from their current uh employer plan to their to their
plan which is an IRA. Okay. When that rollover takes place,
it's it's not a taxable event and uh it doesn't
cost anything and there's no penalties associated with it. Okay.

(51:48):
So you know, the main thing that everyone out there
needs to know is if you're fifty nine and a
half or older, you can do what we're talking about
right now. We can set up an IRA for you
and you can roll over your four one K while
you're still working or if you're retired, either way, and
you can do it in such a manner that does
not incur any penalties or any taxes to you. Why

(52:12):
would you want to do that. Well, as Christy mentioned,
she was worried about fees and potential penalties. Well, you know,
when you have your own plan, it's your own plan
and you have more investment options and lower fees. I
mean just the best part of it is you have
your own plan and that's going to get you where
you want to go and keep you there. So Christy,
we can help you with this, you know, come on

(52:34):
in and see us. We do rollovers for people all
the time and they don't incur penalties or taxes when
we do. So, folks, what another great episode of the
Road to Retirement Show. I'm so thankful that you tuned in,
and I want to invite you to tune in again
next week. We're gonna have more fantastic information coming your
way on the Road to Retirement Show with Limehouse Financial.

(52:57):
So thanks for tuning in today. We very much appreciate
you you and we look forward to seeing you. Hey,
this last offer of the day is for the next
ten callers in the next ten minutes. Is for a
written plan for retirement, no cost or obligation for the
next ten callers in the next ten minutes. Okay, you
must come in to receive this plan, we will not
email it or mail it to you. Next ten callers

(53:19):
in the next ten minutes eight hundred nine four zero
six nine seventy nine will get that written plan for
retirement at no cost. Well for wrapping up and saying
goodbye until next week. God bless you take care.

Speaker 2 (53:40):
The information provided is for illustrated purposes only and does
not constitute investment, tax or legal advice. Information has been
obtained from sources that are deemed to be reliable, but
their accuracy and completeness cannot be guaranteed. Either Trip Limehouse
nor his guests are liable for the usage of information discussed.
Always consultable the qualified investment, legal or tax professional before
taking any action.