Road to Retirement 06-28-2025

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):
Our baby boomers sabotaging their own retirement without even realizing it.
Today we're unpacking surprising money mistakes and how you can
avoid them before it's too late.

Speaker 2 (01:17):
Do you want to avoid taking a wrong turn or
your retirement road.

Speaker 4 (01:21):
The road to retirement is a long one and you
just don't want to make rock back.

Speaker 2 (01:26):
Well, buckle up, we're getting ready to take a retirement.

Speaker 3 (01:29):
Road trip together.

Speaker 2 (01:31):
It's the road to retirement with Trip Limehouse.

Speaker 4 (01:34):
It's the perfect amount to map it out. That road
to retirement is.

Speaker 2 (01:38):
Key, is key, get on the road to financial security
and independence. Just like many of Trip's happy clients in retirement.

Speaker 4 (01:46):
Partners, my money is saying, using the green line principle
that you taught me about.

Speaker 3 (01:50):
Thank you so much, Let's get this trip started.

Speaker 2 (01:54):
It's the road to retirement with Trip Limehouse.

Speaker 5 (02:00):
Hey, welcome in everyone. This is the road to retirement.
Trip Limehouse is behind the wheel, guiding us as he
does each and every week, to that wonderful place we
call retirement. Trip helps smooth out the ride, makes things
a little bit easier. He's going to tell you about
the green line principle, which can really make a big difference.
He's been helping folks for better than twenty years. Always
a pleasure trip, How are.

Speaker 3 (02:19):
You always a pleasure? Likewise, I'm doing well, doing really
doing great. Getting out early and we talked about Fozzy
and daisy walk in those doodles. Man, I'll tell you
what it's got to do, like half walk at the
crack of dawn and then maybe like a nine o'clock.
I know you can relate to that. Well, yeah, exactly.

Speaker 5 (02:39):
Well I feel bad, you know, you don't want to
go on the asphalt. It's too hot.

Speaker 3 (02:43):
That's right.

Speaker 5 (02:43):
Yeah, we get out there pretty early.

Speaker 3 (02:45):
I want to take your bread the way high. But
we're doing good over here at Limehouse Financial. We are
having fun helping people. Eight hundred nine four zero six
nine seven nine. We're getting you to and through retirement.
Great show today. So I don't know, Steve, I think
that this can happen and people don't even realize it.

(03:07):
You know, their retirements are being sabotaged. So you and
I were talking earlier about you know, let's just let's
kind of highlight that what does that look like for people?
What do we see and you know, hopefully help someone
out there avoid these mistakes, you know what I mean?

Speaker 5 (03:26):
Well, yeah, missteps and baby boomers certainly, you deal with
a lot of baby boomers. There's a bunch of us
out there, certainly, and there's no end in sight, and
we might be making some mistakes, you know, and I
think the first one are boomers in your in your opinion, Trip,
let me ask you, are boomers overestimating their social security?

Speaker 3 (03:45):
Or are they I would say yes, and or are
they are they? Are they estimating that it'll be enough?

Speaker 6 (03:54):
You know?

Speaker 3 (03:54):
I mean that that comes down to the the written
plan for retirement that we talk about on the show,
you know, I mean that we just have to account
that account for that. I mean in general, you know,
we're working with people that have seven figure portfolios. So
even if the social security isn't quite what they thought
it would be, their retirement savings are going to kind
of make up the difference. But uh, that's not necessarily

(04:17):
the case for for everyone. Think about this. A lot
of a lot of folks out there discovering that even
after decades of savings, uh, you know that that have
built up and built up, that it just might not
guarantee the security that they're looking for. Why. Well, you know,
many many reasons. Health care costs, that's just one people

(04:39):
living longer. Uh. Marketing deal, yeah, totally a big deal.
That's longevity risk, market volatility. That's that's why we talk
about the green line. Principle and the importance of that.
By the way, folks, that's a safe money strategy where
zero is your hero. You you cannot go backwards in
this part of your plan, and you have a lot
of upside potential preserving and protecting what you've worked so

(05:03):
hard for all those decades of savings. I mean that
it's just paramount for your success. So make sure you
ask us about the green line principle. And then there's
things like legislative changes that people don't even really ever
think about that change the landscape for them, you know,
moving forward. So you know, there are as you I like,

(05:25):
how you were it. See if you use the word misteps,
you know, that's that's a good one.

Speaker 5 (05:30):
There are necessarily a you know, and a misstep is
easily corrected.

Speaker 3 (05:35):
Yeah, definitely take action on it. I think an awareness
thing is what it comes down to. But avoiding or
correcting the missteps. It could be the difference between you know,
peace of mind or sleepless nights. And we want people
to enjoy their retirement. That's what we teach people how
to do here. But so back to the social security thing,

(05:56):
A lot of people think that it's going to fully
cover their expenses. But check this out. The average monthly
benefit as of last year was just about nineteen hundred dollars,
so not too hefty. And that's barely twenty three thousand
a year, hardly enough for a comfortable lifestyle, especially when
inflation is going to chip away at purchasing power as

(06:18):
it so does. So you know, we're we're just seeing
a lot of people that treat social security as their
primary plan rather than just one piece of the puzzle.
And that's the takeaway here, folks, is don't just you know,
rely solely on that. And by the way, there's so
many different combinations for filing strategies, in particular for a

(06:40):
married couple that you could take thousands, okay, And that's
why everyone needs a social security roadmap, Steve. We talked
about that a lot on the show. Interestingly enough, you
know a lot of people just don't have that. Let
me let me share their audience what that is. A
social security roadmap is a document to you by an

(07:01):
expert like myself or my investment advisor, Jonathan O'Reilly, and
it clearly defines the best time for you to optimize
and maximize social security based upon your overall financial scenario,
your goals, objectives, et cetera. So it defines how you
can get the most out of social security. And everybody

(07:22):
that I've ever asked that question too, Hey, do you
want to get the most out of social security? Everybody
I have ever asked that to has said, yes, folks,
you need a social security roadmap. We can provide that
for you. Eight hundred nine four zero six nine seventy
nine Limehouse Financial dot Com. As I'm talking about social
security now, it makes me think of an event that

(07:44):
we have coming up in July. Steve, I want to
touch on that for a minute. It was and you're
always good at reminding our listening audience about that too.
We really appreciate that. But Wednesday, July ninth, at the
Lexington County Public Library, we're going to have a social
security and Income planning workshop, no cost for obligation, six pm.

(08:04):
An educational event. This is a social security and income
planning workshop Wednesday, July the ninth at the Lexington County
Public Library at six pm. And to invite everyone out
there to attend, give us a call at eight hundred
nine four zero six nine seven nine to get on

(08:25):
the roster for that we want to make sure we
have enough space for everyone there. Or visit limehousefinancial dot
com and check out the events tab to learn more
about where we're going to be in the time and
the data, et cetera. So social security definitely can be
overestimated by people, and that can be a mis step.

Speaker 5 (08:45):
Well, let me get you, let me ask you this,
so we talk about you know why delaying retirement hurts. Well,
it's it's clear because it's a time issue. And how
many how many times do you hear this trip when
somebody comes in and they begin to talk to you
and they say, boy, I wish I would have started early.

Speaker 3 (09:00):
Yeah, that's a common statement, you know, pretty much everybody
that And I wish you had more.

Speaker 5 (09:06):
You know that's true too.

Speaker 3 (09:08):
Jonathan and I sat with a couple about three weeks ago,
and these guys had I think just under two million
dollars between the husband and the wife and their four ones.
And they said, you know, I wish I had started sooner.
I wish I had more. And and you know, we
kind of dove a little bit deeper with them. Tell

(09:28):
me why you say that. And for this couple and
for a lot of you guys, out there. They just
didn't think they had enough save to retire. They were
kind of going after a particular number, and uh, we
said to them, will you know, how do you know
know that even having like their number was three and

(09:50):
a half million, how do you know that having three
and a half million is what you need or that
it'll do what you wanted to do? And they said
they had just always thought that if they got to
that level they'd be okay. So you know, they were
thinking they couldn't retire. Anyway, we did what we do
and you know, spend some time with them. We focus
on the person here at Limehouse Financial, not just the money.

(10:13):
So we took good notes of their goals, their objectives,
and we accounted for what we were just talking about
a minute ago, their social security. You know, we map
that out for them. And anyway, we built them a
plan and a demonstrated to them that they could number one,
get the income in retirement that they needed to maintain
their lifestyle. Number two, they could get the income that

(10:34):
they desire to maintain their lifestyle, and number three, they
could have a fair amount of money still at risk.
You know, at Limehouse Financial, we professionally manage money and portfolios.
So we believe in money at risk for capital appreciation
and outpaid inflation. But that whole safe money strategy that
Green Line principal Steve, that we talk about all the time.

(10:55):
We educated them about how that could be a part
of their plan and that would enable them to be
even a little more aggressive on their money at risk,
and that really appealed to them. So I'm sure, you know,
we've got a second appointment scheduled, and I'm sure that
we're going to be able to, you know, bring them
on as clients. But that, you know, I mean, they
were just, you know, kind of all that mindset that

(11:15):
they wish they'd started sooner and had more. But a
lot of baby boomers don't start saving aggressively early enough.
And here's the thing with compounding. Check this out. When
a person starts at age twenty five versus forty five,
what does that mean, Well, it means hundreds of thousands
of dollars more. Later, a Vanguard study showed that even

(11:35):
contributing twenty even contributing five hundred dollars a month, okay,
starting in age twenty five, it could grow to over
a million bucks by retirement. But if a person waited
until forty five, that same five hundred bucks a month
might not even get to a quarter of a million.
So you know, folks, we just want you to be

(11:55):
smart about what you're doing and how you're doing it.
We want you to save, and we want you to
save the right way and realistically. For a lot of
you guys out there that are approaching the road to
retirement journey, you know you have been accumulating for a
very long time and now you're about to enter into
this next stage of life called decumulation. It sounds scary

(12:18):
and it can be if not done properly. So as
an income and a distribution planning expert, this is where
I come in to help you avoid ever outliving your money,
to help you preserve and protect your money. There's a
lot happening out there in the world right now, a
lot of conflict going on, and I know that you're
seeking safe money strategy so you will always be okay.

(12:38):
Ask us about the green line principle now right now,
for the next ten callers, in the next ten minutes,
we're going to offer a written plan for retirement individualizing
customer is just for you at no cost. Or obligation.
You must call in right now. You must be one
of the next ten callers to receive this written plan
for retirement, no cost, no ovation, personalized, individualize just for you.

(13:04):
Sounds great.

Speaker 5 (13:04):
Trip goal here at the show is to help you
make the best decisions for you when it comes to
your retirement. If you've got questions about what we're talking about,
maybe how it applies in your own situation. Today call
eight hundred nine four zero six nine seven nine eight
hundred nine four zero sixty nine seventy nine. We are
going to take a quick break. Lots more to talk
about here on the Road to retire, but with Trip Linehouse,

(13:27):
we'll be right back.

Speaker 3 (13:28):
We've been talking about mistakes or missteps that a lot
of folks out there make on their way exiting to
the road you retirement journey. We're going to dive back
into that when we come back and teach you what
to avoid before it's too late.

Speaker 6 (13:48):
Do you ever feel like you are fighting for financial knowledge?
Don't let that advice be a punch in the gut
to your retirement. Take advantage of a complimentary and no cost,
no obligation consultation with a local, trusted financial coach. Call
Trip Limehouse at eight hundred and nine four zero six
nine seventy nine, or text trip g RiPP to eight

(14:09):
hundred 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 ninety four zero
six nine seven nine.

Speaker 7 (14:19):
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

(14:39):
Road to Retirement eight hundred nine four zero six nine
seven nine, or text Trip Tripp to eight hundred nine
four zero sixty 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 (15:00):
Oh, We're back on the road to retirement with Trip
lime House. The cruising down today looks like a nice
smooth journey, and Trip's gonna help make it stay that way.
We avoid those detours and bumps in the road, don't
we trip?

Speaker 3 (15:11):
We sure do we. You know, at Limehouse Financial, what
we're doing here is helping you guys out there, avoid
the wrong turns that lead to a dead end on
the road to retirement journey. We don't want you to
run out of gas. We don't want you to break down. Hey,
you know, retirement it can be if you don't take

(15:32):
action stressful. You can wonder, you know, how long your
money's gonna last. You can wonder, you know, hey, can
I can I go and take that vacation I've always
wanted to? You can wonder what's gonna happen with my
money that's invested in the market. If there's so many
there can be so many unknowns. But what we're doing
here at Limehouse Financial is we're we're removing all of

(15:54):
those unknowns for you guys out there, and we're doing
that from a fiduciary capacity, only making recommendations in your
best interest. We're helping you to get to where you
want to go and to stay there. So, folks, whether
you're about to be retired two, three, four, five years out,
whether you're a month out, or whether you're in retirement.
You know, you can benefit from sitting down with us

(16:16):
all at no cost, for obligation, to help you make
sure you're on the right track. So in the first
segment of today's show, Steve, You and I talked about
a couple of things. We talked about how sometimes people
are overestimating their Social Security and that's just definitely not
a positive thing. Nope, we don't or maybe they're relying

(16:36):
on it too much, right, you know, they're just like,
oh it, It's gonna take care of everything. And it
was kind of startling when we talked about the average
Social Security I mean, only about twenty three thousand a
year as of twenty twenty four, not a whole lot, right, No,
Then we got into how a lot of people talk
about how they wish they'd started sooner or they wish

(16:59):
they had more, and I think people can relate to that.
You know, folks, we want to encourage you. We want
to encourage you here that you can do this, you
can be successful. You know. I did share a story
in the first segment of some folks that we met
with and they didn't think they had enough, and you know,
we built them a plan and Jonathan and I determined, Yeah,

(17:21):
they do have enough, they can do this. So that
could be you imagine you coming in and sitting down
with us, and you having the mindset before we talk
and before we do our analysis that you cannot retire
or you might not have enough, and then imagine us
presenting you an individualized, customized Richen plan for retirement that
demonstrates to you that if you follow the plan that

(17:42):
we've built, you will be okay and you can retire.
I mean, that would feel great. Let's talk about underestimating
healthcare costs. This is a huge steve.

Speaker 5 (17:52):
That's a big deal, and it's a discussion that is
maybe not always easy to have, but one that must
be talked about. And I mean when you say, think
about it, what we know, Trip and what I've learned
from you, is that one of the two of us
is going to need long term care. I mean that
that's how serious.

Speaker 3 (18:08):
It is, totally, totally and something that can derail even
the best retirement, even someone that has many many dollars
you know, accumulated, definitely would be that long term care.
As you just mentioned. So we we do you and
I collectively do research and follow studies and we just

(18:29):
read about a lot of this stuff, and one of
the ones that we refer to a lot is was
completed by Fidelity, And check this out, folks. Fidelity estimated
that a sixty five year old couple retiring today would
need approximately three hundred and fifteen thousand dollars just to

(18:50):
cover healthcare cost throughout retirement. So and that doesn't even
include long term care, as we were just kind of
talking about. So I think what you need to be
asking yourself is are are you too optimistic about what
Medicare will actually cover? And you also, folks, need to
be asking yourself, what could you be doing? What should

(19:12):
you be doing to better prepare for these major expenses?
And I have one word to tell you what you
should be doing, and that's the four letter word P
L A N. Plan. That's it. You just have to plan. Okay.
So I'm thinking of just a wonderful client, Sharon. She

(19:37):
came in a couple of years ago, and she had
expressed to us that she had been through long term
care with her parents and that she did not want
to encounter that on her own unprepared. So what we
did for sharing was we, you know, we built her
a written plan for retirement. We set up some iras
rolled over her for one K, created an income and

(19:58):
a distribution plan for and we budgeted in particular for
long term care costs that might come up. So how
do we account for that? Well, we shared with her.
You know that there are many ways she could offset
costs of long term care. She could pay for it
on her own. She had a nice seven figure portfolio,
so she could pay for it on her own. She

(20:19):
didn't like that idea, so we kind of pivoted towards
risk management using insurance companies. And there's a lot of
different ways that you can manage risk for long term
care utilizing an insurance company. There's asset based long term care,
hybrid long term care planning, and there's just traditional long
term care planning. Well, for her, it worked beautiful. We
just did some asset based long term care planning. So

(20:41):
for sharing, we just peeled off some of what was
in her IRA that we set up for her. I
think it was about two hundred thousand dollars and we
put it in an asset based long term care plan Stephen,
And you know what this did for her and gave
her peace of mind knowing that if she encountered a
scenario where she needed care, there were dollars that were

(21:01):
set aside to cover the cost of that care. And
also she learned by working with us that if she
never used those dollars for long term care at her death,
those dollars were going to go to her daughter. So
Sharon was just as happy as could be because she
had been through it, you know, seeing the impact of it,
and and we helped her plan for it. Folks, we

(21:23):
function from a fiduciary capacity, only making recommendations in your
best interest, and we were listening to what you're saying,
and we're building plans, individualize and customized that are going
to preserve and protect what you've worked so hard for.
Don't underestimate health care costs. So now this this next thing, Steve,
it's another four letter word and it's a bad one. Well,

(21:45):
I mean it could be a good one, but I'm
going to spell it. You know, I've been known to
spell a lot on this show. R I s K
risk risk. So the question for those listening now that
I want to ask is are you taking on too

(22:07):
much risk or are you taking on not enough risk?
I mean, they both can be really bad.

Speaker 5 (22:14):
I mean absolutely. I think sometimes boomers will will find
think that as you were talking about the other couple
who didn't think they had saved enough, then they begin
to take too much risk as they get when they
probably shouldn't be.

Speaker 3 (22:27):
Yeah, timing, that's the wrong timing. Yeah, a lot of
folks will think they don't have enough, and then they'll
start taking more risk as they're getting closer to retirement,
and then it can backfire. I mean, it could go
the other way to it could really skyrocket, you know,
the market could just have a great uptick. But in
particular right now with you know, new conflicts happening across

(22:47):
the globe, we're starting to get more and more calls
even in the last you know, several you know weeks
about how can I preserve and protect my money? Okay,
because reality is, people understand that they're getting closer to
retirement or they're already in retirement, and they just don't
have the time that they used to have to recover

(23:11):
if they lose money due to market volatility. So that's
where that's where the green line comes in. You know,
the green line principle. That's a safe money strategy where
zero is your hero. You cannot go backwards. You've got
a lot of upside potential. Folks. You need to be
asking us more about the green line principle right now
because things are a little hairy out there, and this

(23:34):
is not the time for your retirement account to be
going the wrong in the wrong direction. So ask us
about the safe money strategy, the green line principle. Also,
I want to mention we have an event coming up
July ninth. It's Wednesday evening, July the ninth. It's going
to be at the Lexington County Public Library at six pm.

(23:54):
It's a social Security and income planning workshop, no cost
for obligation. We'd love to have you there, folks. It's
your opportunity to come in and meet us, learn what
we do, learn a lot more about social security and
income planning, risk management, taxes, legislation, healthcare, inflation, all that stuff.
And that's going to be Wednesday, July the ninth at
seven excuse me at six pm Wednesdays July the ninth

(24:16):
at six pm at the Lexington County Public Library. Eight
hundred nine four zero six nine seven nine is our number.
Limehousefinancial dot Com back to you know, are you taking
too much risk. I think that a lot of people
overcorrect after market downturns and then they maybe put too
much money in cash, so to speak, or ultra safe investments,

(24:38):
if you will, And what happens is they sacrifice a
lot of growth and then sometimes people do the opposite.
They take on too much risk. They're chasing returns to
make up for lost time. So you know, given current
market uncertainties, the question ask yourself is what's the right
balance of safety and growth for where you are on

(24:59):
your journey. And that's where we come in. As experts
in this area. We provide you with professional advice, We
give you expert recommendations from a fiduciary capacity, and we
ensure that you're going to be okay moving forward in retirement. Folks.
I'd like to do that for those listening right now,

(25:20):
and here's the offer. There should be some sense of urgency.
Things are changing quickly and we want to get you
to where you want to go and keep you there
so you can enjoy this wonderful thing called retirement. The
next ten callers in the next ten minutes will receive
a written plan for retirement, individualized and customized just for you,
built by our team of certified financial professionals at no

(25:40):
cost or obligation. Now you must come in and go
through a process to receive this. This is not something
that we're going to send you in the mail, and
all you got to do right now is pick up
the phone call in the next ten callers in the
next ten minutes will receive a written plan for retirement,
individualized and customized just for you.

Speaker 5 (25:57):
Sounds great, Trip, folks, That's an opportunity for you to
come on in, sit down, get yourself a financial roadmap
put together. Trip and the team are therefore you taking
that complex financial world and turning it into something that
that just makes sense. It's your chance to get a
true practical financial review. So if you're listening right now,
give us a call. Eight hundred nine four zero six

(26:18):
nine seven nine. You heard Trip ten callers, right now,
we'll get that comprehensive financial review that he just described.
You'll see where you are today, yes, but more importantly,
it becomes that roadmap to help get you to where
you need to be when it comes to retirement. In short,
you've got nothing to lose. Call right away. Eight hundred
nine four zero six nine seven nine again eight hundred

(26:39):
nine four zero sixty nine seventy nine. Quick break for us.
We're coming back lots more on the Road to retirement
with Trip Limehouse right after this.

Speaker 3 (26:47):
The first year of retirement can make or break your
long term financial health. Today we'll explore a simple but
powerful rule that helps retirees avoid costly mistake right out
of the gate.

Speaker 8 (27:08):
If you remember these TV shows you're getting ready to retire,
and everybody.

Speaker 5 (27:12):
See a big pair of feet or cheesy mustache, I'll
think of you.

Speaker 8 (27:17):
You guts well, I hate 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 (27:28):
Oh geez.

Speaker 8 (27:30):
You deserve a secure, independent retirement, a retirement that is
prepared to handle pitfalls like inflation, health emergencies, stock market volatility,
and taxation. You've worked hard for your money and will
work just as hard to protect it and grow it.

(27:50):
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 four zero sixty nine seventy nine or text
trip to eight hundred and nine for zero six nine

(28:11):
seventy nine.

Speaker 5 (28:14):
We are back on the road to retirement with Trip Limehouse. Trip,
of course, is the guy behind the green line principle.
He's been helping folks for a couple of decades and
then some and he, along with his investment advisor Jonathan O'Reilly,
would love to hear from you. Sit down. That's the
beauty trip. I think when when someone calls the number
and wants to come in, they're going to see you.

(28:34):
They're going to see Jonathan. They're not going to see
some you know, somebody from somewhere right.

Speaker 3 (28:39):
It's you, that's right, and you know, we're all about
the person. We really enjoy just sitting down with you
and learning about where you are and learning about where
you want to go and helping you to get there.
It's very rewarding and satisfying for us here at Limehouse Financial.
That's why we talk about all the time how we're

(29:00):
having fun helping people on the road to retirement journey.
I mean, my experience in twenty plus years is that
a lot of times it can be stressful and overwhelming
for people. We want to take all that off the
table provide folks out there with a very clear picture.
We do that from a fiduciary capacity, only making recommendations

(29:21):
in a person's best interest, creating an individualized and customized
written plan for retirement that's going to do just that.
So you know, in my experience retirement, it's not just
about reaching the finish line. It's about thriving. Thriving in
the next chapter. So you know, we talked about on

(29:42):
the opener of this segment that the first year, the
first year's steed. It can be full of let's call
them financial land mines if you will, you.

Speaker 5 (29:51):
Know, okay, some good, some bad, right.

Speaker 3 (29:54):
Yeah, like maybe overspending that can be one, attax surprises
those are two should never go together. That can happen.

Speaker 5 (30:02):
I don't like that at all.

Speaker 3 (30:03):
Yeah, and maybe some emotional decisions. So we're gonna take
a dive, if you will, into Kiplinger's first year of
retirement rule. And this is kind of a guidepost designed
to help you guys out there make smart, intentional choices
as just step in to retirement life. And if you're

(30:23):
already there, you can utilize this as well. And if
you're far from being there, you can utilize this. This
is just helpful for everyone. So let's kind of break
it down like this. There's different phases, if you will,
the retirement honeymoon phase. I think a couple of weeks
ago we talked about this and we wanted to revisit,
revisit because we got a lot of we got a

(30:45):
lot of calls from people that wanted to know more
about this. So we're kind of circling back to it.
Let's define it real quick, the retirement honeymoon phase, if
you will. So you know, that would be the first
a year or so of newfound freedom, and there could

(31:06):
be things like lots of travel, There could be more
hobbies that have been taken up, maybe some home projects
that you know, we're lingering that are now you know,
being handled or taken care of. And and the thing is,
it's easy to overspend in this part of retirement, in
this phase of retirement, because you know, folks, you've waited

(31:30):
decades and decades to get to where you are, and
you've been earning money and earning money, and and and
now the idea of drawing down your savings it kind
of has a it's like a double edged sword, you know.
It can feel very exciting, but at the same time

(31:51):
it can be some somewhat unsettling, And I don't know,
I think that that it's pretty interesting. Studies that we
we looked at have shown us that spending often spikes
in those first twelve to twenty four months of retirement.
So here's a question for you guys out there. How

(32:12):
can you keep this spending from permanently damaging your portfolio?
How can you trip? How can you avoid this? And
it comes down to having an income and a distribution
plan before you get there. Okay, So for all of
our clients, they're exiting on the road retirement journey, and

(32:34):
we've allready accounted for the things that they need to
do or want to do, such as home modifications or
home improvements, or that large trip that they always wanted
to take, or maybe you know, like it wasn't too
long ago. And a gentleman came in John, who's now
a client, and John said, Hey, I'm going to retire.

(32:55):
January one was his day this year, and he said,
I want to tiring, and I want to build a barn,
and I want to put some equipment in it because
I loved, you know, farming and just being outside and
doing that. And so you know what we did, Steve.
We built him a plan that accounted for that barn
to be built and that equipment to be bought, and

(33:17):
we started talking with him about, okay, well what you know,
what have you allotted for for construction? What kind of
equipment do you want to buy? And we even spent
time with John researching the costs of the equipment. You know.
But it was beautiful because he came back, you know,
this was towards the end of the fourth quarter last year,
and he looked at the plan that we built for

(33:37):
him that was individualized and customized, and and he was
just so happy because we didn't just say, oh, hey,
you can do this. And he had kind of been
wondering what was he ever going to be able to
do it, or if he did it, was he going
to be okay? And so for him, he was going
to be January won this year and he is still
in there. By the way, John, to know you're listening,
because he always listened, said thank you for your business.

(33:58):
We appreciate it very much. But you know, he just
was kind of wondering, like if he did overspend, how
it would affect his retirement. But anyway, it was fantastic
because for this gentleman, we just showed him the proper
way where to get the money from, how much he
could get to do what he wanted to do and

(34:19):
to still have a successful retirement. Folks, that's the type
of work we do here at Limehouse Financial. We're ensuring
that you're not making wrong decisions. We've talked a lot
today on the show about missteps or mistakes and how
you can avoid him. By the way, if you want
to go back and listen to this show today or
any of the other episodes, just check out Google, Spotify, Apple,

(34:41):
anywhere you stream your podcast or music and pull up
The Road to Retirement Show with Limehouse Financial and you
can listen to them all. And don't forget to check
us out on TV. We're on the three major networks
throughout the weekend The Road to Retirement TV Show Saturday morning,
Saturday afternoon, and Sunday morning. Check us out. So, but
you know what we're talking about now is making sure

(35:03):
you don't take a wrong turn early on in retirement
and run out of money. I don't want anyone ever
to encounter that, Okay, So I think that the Kiplingers
First Year of Retirement rule. It suggests that retirees should
delay major financial decisions in the first year possible, such
as big home remodels, major real estate purchases, or giving

(35:26):
you know, to charities and the philosophy behind you know,
what they're saying, Kiplinger saying is give yourself time to
adjust emotionally and financially to your new reality before locking
in decisions that could have long term impact. So I
agree with that. But also what I would follow up

(35:47):
and say is that when we build you a plan
like for our client John that we just mentioned, you
can do these things and know that it's going to
be okay. And I think that's the difference. So, you
know the importance of having an expert like myself or
like my investment advisor Jonathan and O'Reilly help you to

(36:08):
get to where you want to go and to stay there.
I mean, folks, we all need help, and that's what
we do. We're having fun helping people at Limehouse Financial
not make these big mistakes, these big missteps eight hundred
nine four zero six nine seven nine Limehouse Financial dot com.
Steve that I can't remember just having a great show

(36:30):
today did I mention the workshop on this segment yet
I did not think so well, I want to do
it right now, folks. We have a live event coming up.
I'd like to invite you to it. It's going to
be Wednesday, July the ninth at six pm at the
Lexington County Public Library. This is a social security and
income planning workshop. We'd love to have you there, no

(36:51):
cost for obligation. Come on out and meet us, learn
more about all the things that we're talking about. They're
going to help you to have a better retirement. That's Wednesday,
July ninth at six pm at the Lexington County Public Library.
Eight hundred nine for zero six nine seven nine Limehouse
Financial dot com. Let's dive into this risk called sequence

(37:14):
of returns risks.

Speaker 5 (37:15):
You trip. We talk about this on a fairly regular basis,
but again it's often misunderstood and it's so important to
really get a grasp, especially the way the markets. The
market is these days.

Speaker 3 (37:28):
Yeah, a lot of volatility there for many different reasons.
I mean, you know, this year has been a lot
to talk about tariffs, you know, and then inflation recession.
Now we're in conflict, and quite frankly, I think this
most recent thing with conflict has really caused a lot
of people to think about market volatility. How can you
preserve and protect your money. I want to mention the

(37:50):
green line principle, folks. That's a safe money strategy where
zero is your hero. You cannot go backwards. You've got
a lot of upside potential, and it's a safe money strategy.
Everyone needs it. Right now, ask us about the green
line principle. Okay, so the sequence of returns risk this

(38:10):
this is really important because it's going to help you
reduce exposure to what's called taking money out when you
shouldn't take it out. So if the market takes it
really and in summarized, if the market takes a downturn
early in your retirement while you're making large withdrawals, the
long term recovery of your portfolio can be severely compromised. So,

(38:34):
you know, we want to be smart about large expenses
early on, especially when the market is changing. We want
to be able to better absorb market fluctuations. And you know, folks,
I mean if we just don't want to rely solely
on the market to control our destiny, because if we're
taking too much out at the wrong time when the
market is down, it's gonna have a tremendous impact on

(38:58):
the future years. So that that's where we come in
as experts to make sure that that doesn't happen. Folks.
Right now, the next ten callers in the next ten
minutes are going to receive a written plan for retirement
built by our team of certified financial professionals. This is
individualizing customize just for you at no cost or obligation.
But you must be one of the next ten callers

(39:20):
in the next ten minutes to receive this no cost
or obligation written plan for retirement.

Speaker 5 (39:25):
That sounds great, Trip, folks. It's an opportunity for you
to come on and sit down and get yourself a
financial roadmap put together, an opportunity to review your individual circumstances. Again,
no cost, no obligation. You'll find out things like how
much risk you're taking, red flags that could be a
problem for you down the line. Do you really know
what you're paying in fees or commissions? Well, let Trip
take a deep dive and find out for you. Tax

(39:48):
liabilities will also be discussed, and of course, a lifetime
retirement income plan that includes maximizing your social security benefit.
If you want to take advantage of this complimentary review,
call us right now eight hundred nine four zero six
nine seven nine, eight hundred nine four zero sixty nine
seventy nine. We've got to take one more quick break
and we'll be back with one more segment here on

(40:10):
the Road of retirement with Trip Limehouse right after this
one of.

Speaker 3 (40:12):
Our favorite parts of the show coming up next. You've
got questions and we've got answers, expert insights on the way.

Speaker 6 (40:27):
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 to
relax and travel and enjoy and nest egge. You've got
more work to do for a retirement that maximizes your portfolio,

(40:49):
your social security, avoids unnecessary risk, protects you from pitfalls,
and frankly, lets you retire. It keeps the nest each working.
You need a retirement partner. You need someone looking out
for your best interests and building a plan for you
based on your situation. Call Trip Limehouse at eight hundred

(41:10):
and nine four zero six nine seventy nine or text
trip tripp to eight hundred and nine four zero six
nine seven nine. That's eight hundred and nine four zero
six nine seven nine or text trip to eight hundred
and nine four zero six nine seven nine.

Speaker 2 (41:25):
This is such a blow to invest Do it right now,
break there with your one four the world the most epod.

Speaker 9 (41:32):
It takes courage to face up to things like volitle
markets and Wall Street money traps. If you're unsure, worried,
or losing sleep about your money, do something about it.
Call Trip Limehouse, host of Road to Retirement eight hundred.

Speaker 10 (41:44):
Nine four zero six nine seven nine or text trip
tripp to eight hundred nine four zero six nine seven nine.
We've made it easy for you to take advantage of
this fantastic offer. All you have to do is call
our text trip to eight hundred nine four zero six
nine seven nine.

Speaker 5 (42:03):
Welcome back to the Road to retirement with Trip Limehouse.
Having a fun drive today. We have covered some ground,
but we're not done yet. Trip and I want to
start by reminding everyone you have an event coming up,
this coming up in a week or so, right the nights, Yeah.

Speaker 3 (42:19):
Yep, yep, and I appreciate you doing that, Steve. Our
listeners are thankful that you're always reminding them of things
that are happening, and so am I. Yes, folks, we
would like to invite you to our upcoming event on Wednesday,
July the ninth. This is going to be a no
Cause for Obligation Social Security and Income Planning Workshop. The

(42:41):
location is the Lexington County Public Library and the time
is going to be six pm. It's on a Wednesday evening.
We would love to have you there. This is your
opportunity to come and meet us in person, learn more
about what we do and how we can help you
have the retirement of your dreams, how we can help
you do things better. Very in depth, comprehensive workshop. We

(43:02):
get a lot of compliments on it from people out
there who've attended other I'm not even going to say
similar things, and what folks at attend our event tell
us is that it's very well rounded. We're talking about healthcare,
we're talking about taxation, we're talking about inflation, you know,
market volatility, legislative changes. This is your opportunity to come
and learn more about how you can do better in retirement. Wednesday,

(43:25):
July the ninth at six pm at the Lexington County
Public Library. To attend that event, give us a call
eight hundred nine four zero six nine seven nine, or
visited us on the web at limehouse Financial dot com.
Thanks for bringing that up, Steve, so hey, I want
to give a a problem. Yeah, I just want to

(43:47):
give a shout out to my longtime listeners. You guys
are great. It's always good to be back with you.
Thanks for your support. You know, Steve, I think we've
been on the on the air now all over five
years and we've built a following, and folks, we really
appreciate you. Thanks for sending us those emails and giving
us those calls and letting us know you appreciate us.

(44:09):
You mean a lot to us and for our clients
out there, y'all are the best. Without you, we couldn't
do this. So thank you for your business. And if
you're new to the show, well welcome in. Make sure
you tune in next weekend for another great episode of
the Road to Retirement Show with Limehouse Financial. And of
course while I'm doing shout outs, I have to well,

(44:30):
I'm thinking of my one of one of my biggest fans,
Allison it's time for some cookies. Bring them on. I've
been wondering about him. I know you're baking. Thanks for
all your support, and of course for my lovely wife, Honey,
you're the best. You mean so much to me. You're
my best friend, Amy and I really enjoyed doing all
the things we do together. And also thanks for making

(44:51):
this happen too. She's a big part of the Limehouse
financial so but this is great, Steve. I mean, our
listeners really matter to us, and they call in and
they have questions, and and folks might not even realize it,
but they're asking questions that you know, sometimes another person
is thinking that's pretty cool.

Speaker 5 (45:09):
Well, let's jump in and see if that's the case.
Right here, we have got We've got don No, We've
got Sharon up. First. She's in Colombia, and she says,
after twenty eight years of marriage, her divorce is finalized
at the age of sixty two, splitting most assets equally evenly,
including four hundred thousand dollars in retirement accounts. Now facing

(45:32):
retirement alone, she's unsure how to adjust her income plan,
how should she think about dividing social Security benefits and
managing her solo financial future.

Speaker 3 (45:43):
Wow. Well that's after a long time of marriage, a
whole lot of adjustments. And that's a great question. You know,
I feel for you. I mean, sometimes it's a positive
thing that divorces happened. You know, nobody really gets read
to get divorced, but it happens. And then there's the
whole financial component of it. You know. I think that

(46:06):
you know that four hundred thousand in retirement accounts that
you're talking about is a big deal. You know. Learning
for you maybe you haven't always handled the money, I'm
not quite sure, but learning what you should do now
to ensure your success is paramount. You know, understanding the
best time to file for your Social security as paaramount.

(46:26):
So a couple of things, the social Security roadmap that
we mentioned on the show all the time that would
greatly benefit you. We need to take into consideration many
different things and determine how you can optimize and maximize
social security. The way we will do that for you
is with the social Security roadmap. Now regarding the money
that it was in the retirement accounts that's being split,

(46:47):
and how to have a proper income plan. Well, I
like the way you're thinking. We need to have an
income and a distribution plan specifically cater to you to
where you are now moving forward. To make sure number
one one, that you preserve and protect money. You have
a safe money strategy. That's where the green line principle
comes in. The green line principle is going to give
you zero's your hero, a lot of upside potential. Can't

(47:10):
lose money. That's very important for you. And then you
need an income and a distribution plan to make sure
that you know, you never outlive your money. You know,
we want to help you with that. Also, you need
money that's professionally managed, and we do that here at
Limehouse Financial. Two reasons. We want to outpace inflation and
we want to our capital to highly appreciate. That's a

(47:32):
very important thing for that to happen. Okay, So we
can help you with all that. It just starts with
coming to see us. Let's let's walk you through our
process and let's make sure that you are going to
be okay moving forward with all these changes that have
occurred in your life. Thanks for calling in and we're
here to help.

Speaker 5 (47:52):
Eight hundred and ninety four zero six nine seven nine.
That's the number to get you started to here we go.
Jackson is in Blythwood. He's got as that offers a
lump sum of five hundred and fifty thousand dollars or
monthly payments of twenty eight hundred dollars for life. He
does not have a strong family history of longevity, but wants
to make sure he doesn't outlive the money. How do

(48:14):
you help weigh the risks and rewards of taking the
lump sum versus the monthly payouts. He is in Blathwood
at Blue Cross Blue Shield.

Speaker 3 (48:22):
Well, Jackson, congratulations on your on you getting this close
retirement and almost being able to do it, and I'm
sure you're gonna do it successfully with what you have
accomplished so far in saving. So you know, the we
work with many many Blue Cross Blue Shield employees and
the cash balance pension plan is fantastic. You know. We

(48:46):
as an example, let you know Jackson how he can
help it. We recently brought on a Blue Cross Blue
Shield client and you know this individual was offered the
lump sum or the monthly income very similar to you.
We did what's called the pension analysis, which accent I
would say, we need to do this for you. We
did the pension analysis for this person, and what we
determined was that taking the lump sum and rolling it

(49:10):
into an IRA, which is a non taxable event. By
doing that and creating what we call the personal pension plan,
we were able to provide about nine percent higher income
for the rest of this person's life guaranteed. So that
was a no brainer. You know, higher income guaranteed, and

(49:31):
you know, maybe we'll be able to do the same
thing for you. I know, what we've seen recently with
the Blue Cross and even some like Dominion and other
companies around our area is that the payout factors have changed,
the interest rates have changed, and you know, we're seeing
a lot of people that are saying, a year ago,
my income would have been higher if I would have retired,
and now it's less. And that's a big concern for folks.

(49:52):
So we need to do the pension analysis for you.
We need to ensure that you're getting the most income possible.
And if it's the best that they're offering you, we're
going to tell that to you. And if you can
do better on your own, we're going to tell that
to you as well. It all comes down to the
pension analysis, folks. If you're out there listening and you
have a cash balance pension plan, like Jackson does, make

(50:13):
sure you ask us about the pension analysis to determine
what the best option is for you to do. Okay,
but Jackson, it does come down to having that income
and then distribution plan. Similar to what I mentioned to
the first caller today. We want to put this together
for you in such a way that ensures you never
run out of income that you have, that you preserve

(50:34):
and protect money. You know that you have the right
amount of money in the market at risk moving forward.
We want to ensure a successful retirement and that's the
type of work that we do here at Limehouse Financial.
So we're looking forward to seeing you in the office
and building you that written plan for retirement that we
talk about.

Speaker 5 (50:49):
Eight hundred ninety four zero sixty nine seventy nine is
the number. And let's say we've got time for one
more trip. Harley and Esther are in Sumpter and at
sixty six years old, they say they're ready to step
back from their small manufacturing business provides about sixty percent
of their income right now, and they have an interested buyer,
but worry about taxes and how to structure the sale.

(51:12):
What steps should they take to create a tax smart
exit plan that supports their retirement.

Speaker 3 (51:19):
Yeah, that's a great question. So I've done a lot
of work with small business owners, you know, have a
designation as a Certified Family Business Specialist. So for you guys,
there's a lot to take into consideration. You know, there
could be several techniques that you could use to spread
out the capital gains over a period of time from
the sale of a business, maybe some owner financing or whatnot,

(51:41):
and then sometimes just taking the hit if you will,
for taxes right up front could be the best. But
since your business currently is providing you with most of
your income sixty percent of your current income, what we
need to do is ensure that the proceeds from the
sale of the business after taxes, are going to be
enough to sustain you, to enable you to maintain your lifestyle.

(52:04):
I mean, just like the last two callers that we
had today, they weren't business owners, they weren't selling anything,
but they still were concerned about one thing income, not
outliving their income and preserving and protecting their money. So
it's same thing for you guys, you know, so I
commend you for being a business owner. I am a
small business owner, so I can relate to all the
things that you guys encounter. But it just comes down to,

(52:27):
you know, planning properly. So with my expertise as an
income and a distribution planning expert and a social security
planning expert, and then my background of working with small
business owners helping them in all areas of planning, we
can build you that robust plan and account for any
taxation that may occur and make sure that you can
retire successfully. So I just want to have you in

(52:48):
the office, go through our process and let's build this
plan for you. Okay, very excited for this next stage
of your life. Folks, thank you for spending another, you know,
bit of your time with us on the road retirement showed.
We're very thankful for you. This offers for the next
ten callers in the next ten minutes eight hundred nine
four zero six nine seventy nine, I'm offering a no

(53:10):
cost or obligation written planned for retirement, individualizes and customized
just for you. You must call in right now be
one of the next ten callers to receive this at
no cost or obligation, a written plan for Retirement eight
hundred nine four zero six nine seven nine. Once again,
thanks for being with us today on the Road to
Retirement show. Tune in next week for another great episode,

(53:33):
and until then, stay cool and God bless you.

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