Road to Retirement 07-19-2025

Episode Transcript

Speaker 1 (00:00):
Information provided is for illustrative 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 reliable for the usage of information discussed.
Always consultable the qualified investment, legal, or tax professional before
taking any action.

Speaker 2 (00:20):
Creating a successful retirement doesn't happen by accident. It takes
intentional planning, disciplined savings, and the right strategic guidance. We've
all heard that people spend more time planning a two
week vacation than they do planning thirty years of retirement. Hey,
let's flip that script and focus on the things that

(00:42):
truly matter as you enter your next phase.

Speaker 1 (00:46):
Do you want to avoid taking a wrong turn or
your retirement roads.

Speaker 3 (00:51):
The road to retirement is a long one, and if
you just don't want to make wrong.

Speaker 1 (00:55):
Day wrong, well, buckle up. We're getting ready to take
a retirement road trip to gather it's the road to retirement.

Speaker 3 (01:02):
With trip Limehouse, it's the perfect amount to map it out.
That road to retirement is key, is key.

Speaker 1 (01:09):
You get on the road to financial security and independence,
just like many of Trip's happy clients in retirement.

Speaker 3 (01:15):
Partner, my money is safe using the green line principle
that you taught me about.

Speaker 2 (01:20):
Thank you so much.

Speaker 1 (01:22):
Let's get this trip started. It's the road to retirement
with Trip Limehouse.

Speaker 4 (01:30):
Welcome in, everybody, this is the road to retirement. We
got the car geared up, ready to go. Trip Limehouses
here guiding us along as he is each and every week.
In fact, he's been doing just that for folks for
more than twenty years, getting him to and through retirement.
You make a nice you make a nice trip. Trip.

Speaker 2 (01:47):
How are you. I'm doing good. How you do it?

Speaker 4 (01:50):
I'm good? Thanks good? You know, enjoying the summer having fun.

Speaker 2 (01:53):
Yep. I noticed you didn't say we got the windows
down cruising. Well, we do, definitely got the windows up
with the air on.

Speaker 4 (02:01):
Yeah, you're right because it's hot.

Speaker 2 (02:03):
Although I will say, uh, you know, we had a
couple of days recently and I was like, it just
doesn't feel like July, and uh, it's kind of nice really,
you know. I mean I've been over at the lake
a lot, uh and taking the boat out Amy and
I've been having some fun doing that. Honey, I love you.
Thanks for always going out on the boat with me
and being my Uh. I want to know, what's a

(02:23):
co captain? Is that right? I don't know, I think
so sure. I don't even know that that's a thing.
I definitely am the captain, but you know, she tells
me where to go and anyway. But we've been getting
in the water. I mean it's been a little cooler
than normal lately. Oh. I like that. Usually that water,
I mean it'll start happening, it'll be like bathwater and
you got to go out in the big water and
get some cool water. But anyway, speaking of water and refreshing,

(02:48):
I think that's what we got going on today for
our listeners. I mean, you know, this, this whole thing
about retirement, it really doesn't happen by accident, does it.

Speaker 4 (02:58):
No, it sure doesn't. But I mean again, that's a
big question, and I'm sure you get it all the time.
So what happens now?

Speaker 2 (03:03):
What's next?

Speaker 1 (03:04):
Help me?

Speaker 2 (03:05):
Well? Think about this. You know, folks, uh, you you've
you've done something really big. You've built a career, you've
accumulated welp, and you know, maybe even you know, help
raise a family, but now comes the big question, Okay,

(03:26):
what comes next? Yeah, and how do you make it last? Right?
And this is what I see after two decades of
helping people in retirement, retirement today it just looks different
from what it did a long time ago. I mean,
people are living longer, facing higher health care costs, they're

(03:48):
dealing with more market volatility than ever before, and we
just live in a different world. So what we wanted
to do for our listeners today is just, uh, you know,
make sure that your wealth supports your vision, not the
other way around. So yeah, some questions we're going to
run through here with our listeners, And well I like that.

Speaker 4 (04:11):
So the greatest, the great statement, the greatest asset you
gain in retirement isn't money. It's time because you know,
we've spent our life exchanging time for money, and now
that time is our own.

Speaker 2 (04:22):
Well absolutely, you know, you you just accumulate, accumulate, accumulated.
Now all of a sudden, you've got to make that
money work for you because you're not working anymore. And
what do you have more of time? Time to hopefully
do the things that you want to do, that you
enjoy doing. Maybe do some things that you've always wanted
to do but couldn't because you did not have time.

(04:46):
And I want to just tie this into having a
very clear vision for what I would call your retirement lifestyle. Folks,
you got to start thinking along those lines. I've just
observed through the years that a lot of people, you know,
they focus on saving, investing and kind of getting to retirement,

(05:07):
and those are all very important things, but then they
arrive and they're just not quite sure about their their lifestyle. So,
you know, I think what's problematic is that a lot
of retirees step away, if you will, from work and
they just don't really have a detailed vision of what's
next for them. And I think, you know, Steve, you

(05:29):
hit the nail on the head there. The greatest asset
that people gain, It really isn't money. It's just time.
And I don't know, you know about you, but I
want to make the most of it, you know, now
while I'm working and also you know, when I'm not working,
you know, right, It's just kind of it's kind of
the thing right.

Speaker 4 (05:50):
Well and again, but we have to we have to
have that vision before we can get there.

Speaker 2 (05:56):
So so so on the time front, I think what
would be helpful for our for our listeners is to
for you guys out there to ask yourself, how are
you going to spend it? I mean it might be
doing a lot of traveling. Uh, you know, maybe you've
got a list of places that you have always wanted
to go. It might be spending time with others, mentoring them,

(06:17):
teaching valuable life skills to those that that don't have
skills that you have and you can transfer those. I mean,
how rewarding is that. Sometimes it's sports, you know, people
or you know, I mean a lot of golfing and pickleball.
I mean, you know, we have we have one client, James,
and he's he's a basketball guy. I mean this he

(06:39):
plays basketball at the y m c A with the
Senior League like three times a week and he's like
really really good. Yeah. You know. For others, that could
be volunteering, and then you know there's family. I mean,
think about the time aspect of just hanging out with
the people that you love and that love you. So
I guess the key is to trans dreams into a

(07:02):
practical budget, if you will. So. An interesting survey by
ARP in twenty twenty four found that sixty nine percent
of retirees who reported highest satisfaction had specific lifestyle goals
and a plan to fund them. So, folks, how specific
is your vision and does your financial plan support it?

(07:27):
Visit us on the web at limehouse financial dot com
eight hundred nine four zero six nine seventy nine limehouse
financial dot com. We're having fun helping people and this
is what we do best. Hey, I've got a couple
of events that I want to mention Steve. You and
I were talking about it now or Jonathan and I

(07:47):
are always, you know, doing things out in the community
and meeting people, and these are some pretty cool ones
we got coming up Monday the twenty first, at six
thirty pm at the AMC Theater in Harbison. There's a
no cost, no obligation movie that we're going to be showing,

(08:08):
The Baby Boomer Dilemma. Hey, Steve, tak for a minute
about that movie for us.

Speaker 4 (08:13):
Yeah, The Baby Boomer Dilemma is a serious it's a
well done documentary. One of the things that stuck out
to me was the chance to see the guy. And
his name is Bana. Last name is Bana. He's the
guy who late one night as an accountant CPA discovered
the language called the four oh one K, and his

(08:33):
idea of the four oh one K was to be
able to allow an employee to save on their own
in addition to the pension. His intention was to never have,
you know, pensions be eliminated, and that's what the four
oh one K essentially is done.

Speaker 2 (08:48):
Yeah. Really, the four toh ones are the four hundreds,
which are the codes that deal with tax defer retirement accounts.
They really shifted the responsibility from the employer to the employee.
And this movie is fantastic because it talks about the
problems as a result of that and many other problems,
and it's a really cool movie. A whole lot of
experts in there.

Speaker 1 (09:08):
You know.

Speaker 2 (09:09):
The content is just very vast and very helpful. The
Baby Boomer Dilemma movie is going to be provided to
you guys Monday, July twenty first, this coming Monday, six
thirty pm at the AMC Movie Theater in Harveison. No
cost for obligation to attend that event. You must call

(09:29):
in eight hundred nine four zero six nine seven nine
or visit us on the web at Limehousefinancial dot com
under the events tab. You can register for the Baby
Boomer Dilemma movie airing Monday the twenty first at six
thirty pm at the AMC and Harveston on the big screen.
Come out and have fun, meet us and see this

(09:50):
great movie. Also, we're having two estate plannet.

Speaker 4 (09:54):
Yeah, go ahead, Steve Scott, I was just going to
mention you mentioned a lot of big names, and let
me just mention besides Ted Bennett who created the four
to one K, Tom Hegna has a great little bit,
Mike Gallaghery's PhD on the Trust Act, and a Nobel
Prize winning economist, Robert Merton. I mean, all of these
guys share that sort of dilemma, if you will, of

(10:16):
shifting from a defined benefit plan to define contribution plan.
So if you want to know how that whole thing happened,
it's a story and it's a little disturbing sometimes.

Speaker 2 (10:27):
Yeah, we found that it's really moving for people who
attend this event in a positive way because they want
to take action to make sure they're going to be
okay during retirement. And that's our goal. We want to
make sure you're going to be okay and do better
during retirement. Also, we have two estate planning workshops this week,
So the twenty second and the twenty fourth Tuesday and

(10:49):
Thursday at six thirty pm, we're going to be at
the Lexington Chamber of Commerce for an estate planning workshop.
This is where we talk about what is estate planning,
the importance of it, who needs to do it, what
does it entail, and how we can help you with it.
So that's also a no cost for obligation, you know,
estate planning workshop Tuesday and Thursday, twenty second and twenty

(11:12):
fourth of June at the Lexington Chamber of Commerce, but
you must call to let us know you're going to
be there so we can accommodate. Eight hundred nine four
zero six nine seven nine. So you know, we were
talking in a segment about creating successful retirements and how
it doesn't happen by accident, and we touched briefly on

(11:33):
having a clear vision for a retirement lifestyle. Coming up next,
we're going to talk about you know, an income and
a distribution strategy and how that works and the importance
of you thinking proactively about taxation during retirement, So make
sure you stay tuned for that. Folks, visit us on
the web at limehousefinancial dot com. Eight hundred nine four

(11:55):
zero six nine seventy nine. I'm going to get give
an offer right now or the next ten callers in
the next ten minutes. It's going to be for a
no cost or obligation, a written plan for retirement built
for you by our team of certified financial professionals. And
this is going to be offered at no cost or obligation. Folks,

(12:15):
you cannot just call in and say mail that to
me or email that to me. You must come in
and go through our process to receive this no cost
or obligation, individualized and customized written plan for retirement. It's
for the next ten callers in the next ten minutes.

Speaker 4 (12:33):
Sounds great, Trip, folks, do give us a call. We'd
love to hear from you, an opportunity to sit down
and get a financial roadmap put together. Trip and his team,
including Jonathan the investment advisor, are therefore to take that
complex financial world turn it into something that just makes sense.
This is an excellent chance for you to get a
true practical financial review. So if you're listening, then give

(12:53):
us a call. Eight hundred nine four zero six nine
seven nine. You heard Trip. Ten callers right now, We'll
get that comp ggrehensive financial review. You'll see where you
are today, of course, but more importantly, it becomes that
roadmap that we talk about all the time, and you're
gonna find that you have got a path that can
help get you to where you need to be. Call

(13:13):
right away eight hundred ninety four zero six nine seven nine,
eight hundred nine four zero sixty nine seventy nine quick
break for us. We're coming right back. Lots more on
the Road to retirement with Trip Limehouse.

Speaker 2 (13:24):
Successful retirement. As we've talked about in the first segment. Again,
it doesn't happen by accident, folks. Let's get a very
clear direction for your road to retirement mapped out. We're
talking about that and a whole lot more coming up
next on the Road to Your Retirement show with Limehouse.

Speaker 5 (13:40):
Financially it is such a blow it right now the
stout the world.

Speaker 6 (13:53):
It takes courage to face up to things like volatile
markets and Wall Street money traps. If you're unsure, worry
or losing sleep about your money, do something about it.
Call Trip Limehouse, host of Road to Retirement eight hundred
nine four zero six nine seven nine, or text Trip
tripp to eight hundred nine four zero six nine seven nine.
We've made it easy for you to take advantage of

(14:15):
this fantastic offer. All you have to do is caller
text Trip to eight hundred nine four zero six nine
seven nine.

Speaker 4 (14:27):
We are back cruising of the road to retirement with
Trip Limehouse again. Nice drive on the way. We always
have a good time with Trip. I like the first segment.
We really got into some I just think some meat
and potatoes kind of discussion about you know, the importance
of income in retirement and you know how that relates
to your lifestyle. But it's a you know, it's a

(14:48):
it's a process obviously, and how do you build that
income distribution strategy that we talked about Trip, How do
we do that?

Speaker 2 (14:55):
Well? I think first and foremost, we just have to
put it on the table for people. It's astounding, even
after you know, years and years of doing this at
our events. Uh, you know, I'll kind of pull pull
the audience if you will, and I'll say, hey, you know,
do you have this or do you have this? And
one of the things I'll ask about is, you know,

(15:15):
how many of you in attendance, uh, you know this
evening have an income and a distribution plan, and no
hands go up. I mean it's good. It is just
very very very rare for someone to raise their hand
and and I have to define it for him before
I ask. I tell, folks, you know what is an

(15:36):
income and a distribution plan? Well, it's a It's a
plan provided to you by an expert like myself or
like my investment advisor, Jonathan O'Reilly, And it clearly identifies
where you should withdraw money from, when you should withdraw money,
how much you should withdraw, and how long it's going
to last. Okay, so where, when, how much, and how

(15:59):
long it's going to the last. Just very key key
things for people to have success during retirement. But so again,
I mean, it is astounding to me that people don't
have these things. And in particular, there's a vast majority
of people that are listening to us right now, Steve,
that are working with a broker or a planner, or

(16:19):
an advisor or an agent, and they still don't have
an income and a distribution plan. Folks, how are you
gonna get to where you want to go and be
successful without what I'm talking about. I mean, it's not
just about you accumulating wealth. It's about distributing it efficiently. Now,
between Social Security and if you're fortunate enough to have

(16:40):
a pension and then investment portfolios, you just need a
plan that balances reliability with flexibility. Okay, So a key
thing here too is that the timing of Social Security
loan can mean a difference of up to seventy seven
percent in lifetime benefit. And that's according UH to Social

(17:02):
Security directly. So you know, a question to ask is,
you know, should you delay? I don't know if you're married,
what what about survivor benefits or spousal strategies? And then
once you account for guaranteed income, you know, how do
you draw from taxable UH, tax deferred and tax free

(17:23):
accounts in such a way that it reduces risk and
maximizes longevity. I mean longevity risk is the number one
risk you face during retirement, folks. You don't want to
outlive your money. So I'm talking right now about an
income and a distribution plan, and a huge part of
that could be what we call the triple P, the

(17:45):
personal pension plan. There's a lot of folks out there
that are suffering from a from a common condition. Steve,
you know, you know what the common condition.

Speaker 4 (17:53):
Is what's that the lack of plan.

Speaker 2 (17:56):
No PE. They're suffering from p E pension envy, pension
env and no one should ever suffer from PE. We've
got a solution for that, and it's called You're funny
little humor there. It's called it's called the triple P,

(18:19):
the personal pension plan. I mean, folks, you know, maybe
you have a pension and you'd like to have an
additional pension. Okay, Well we can help you with that.
Or maybe you know you've heard your friend or family
member how talk about how they love their pension because
it's reliable and consistent and stable, all those things, and
you'd like to have one, and you have just thought

(18:39):
that there's no way you could ever have one. Well,
you're wrong. We can show you how to create a
personal pension plan. Just ask us about it, okay. As
a matter of fact, the green Line principle is a
fantastic way for you to preserve and protect your money
and never outlive your money. I'm so thankful that I
trademark that years ago with the USPTO and we talked

(19:03):
about it, because, folks, the green line principle is a
safe money strategy where zero is your hero. You cannot
go backwards, and you have a lot of upside potential,
and you also can create guaranteed income for life. So
we're talking now about you having an income and a
distribution plan, you creating income that you can never outlive,

(19:24):
and really having a smart income and distribution strategy. Eight
hundred and nine four zero six nine seven nine. Limehouse
Financial dot Com got some great things happening this week, folks.
I want to run it by real quick and invite
everyone out there to these events. This coming Monday night,
the twenty first, we're airing the Baby Boomer Dilemma movie

(19:46):
no cost or obligation. We're going to be at the
Big Theater at the AMC Movie Theater in Harbison six
point thirty pm this Monday night. If you'd like to
attend and spend some time with us and watch this
movie full of all kinds of great information that's gonna
really get your wheel spinning on what you need to
be taking action on to have a healthy and successful retirement.

(20:11):
Give us a call at eight hundred nine four zero
six nine seventy nine and reserve your spot. You must
call in to reserve your spot. Okay, Well, absolutely required.

Speaker 4 (20:24):
So trip that movie. It's it's less than just under
ninety minutes and it's the only film really first MPa.
So the Motion Picture Association rated film focused entirely on
retirement income. It's pretty interesting, it's really cool, and it's
rated PG, so it's yeah.

Speaker 2 (20:43):
It's strictly for adults. Yeah. I think that's because there
might be.

Speaker 4 (20:48):
Some baby boomers are the only ones that are concerned
at this point.

Speaker 2 (20:52):
That's right. Everybody's gonna be okay with that PG rating.
But you know, we're the only one in town, you
know that's airing this movie. We've got the rights to it.
And the baby Boomer dilemma is a fantastic way for
you guys just out there to get thinking about where
you're going, how you're going to get there, and what
you can do different, and then talk with us further
about helping you to accomplish your goals. So Monday night,

(21:16):
six thirty pm at the AMC Harbison call us if
you want to attend. Eight hundred nine four zero six
nine seven nine, no cost for obligation, and one more
thing to tell you about On Tuesday the twenty second
and Thursday the twenty fourth, we're going to host a
no cost for obligation estate planning workshop at the Lexington
Chamber of Commerce. And this is where we're going to

(21:39):
talk about what is the state planning, who needs to
do it, what does it entail, why you should do it,
how it works, and we're going to talk to you
about how we can help you accomplish the goals of
proper estate planning. Tuesday and Thursday the twenty second, twenty fourth,
the Lexington Chamber of Commerce, six thirty pm eight hundred

(21:59):
nine four zero six nine seven nine. Check out limehouse
Financial dot com under our events tab to learn more.
So this is pretty great conversation today. You know, we're
just talking about how things don't happen by accident. I
think that what I've observed see eve in the last
two decades is that those that have a great retirement

(22:22):
don't just like do it by accident. They're very intentional,
you know, they're they they do the right things, They
meet with an expert like myself, like Jonathan O'Reilly, my
investment advisor, and and they plan carefully. Are you thinking
this is a question for you guys out there listening.
Are you thinking proactively about taxes in retirement, the three

(22:45):
letter word tax. We got to talk about that's a
big one.

Speaker 4 (22:48):
No, we got to talk about that.

Speaker 2 (22:51):
Well, I think so we we You and I read
a lot of studies and we bring them up to people.
You know, there's just so much out there that indicates
that the post retirees are underestimating, underestimating the tax bite
that comes from something like a requirementimum distribution, or from
capital gains or Medicare premium search charges. Now ed slot who,

(23:15):
interestingly enough, is a part of the Baby Boom or
Dilemma movie. I was just mentioning. He's a nationally recognized
IRA expert, and he puts it like this, it's not
what you make, it's what you keep after taxes that
matters the most. So you know wroth conversions, qualified charitable distributions,

(23:38):
tax free loans from life insurance, and you know those
personal pension plans that I was mentioning to you earlier.
They can all play a role in a well rounded
tax strategy for you. Okay, So on the subject of taxation,

(23:58):
you know all these events that d Steve. We're in
front of hundreds and hundreds and hundreds of people and
we're just we're helping. We're helping all of them. I
do another question, like a survey question to my audience
that the attend these events. Hey, do you think income
taxes are going to stay the same as they are currently?
Raise your hand, No hands go up? Okay, Hey do
you think that, uh, income taxes are going to go down?

(24:21):
Raise your hand? No hands go down or no hands
go up? Do you think that income taxes are going
to increase as you get older? Every hand goes up? So, folks,
I mean, it's kind of like without question that we're
going to be bracing for a higher income taxes as
we age. We are in a favorable tax environment currently,

(24:42):
and uh, you know, I guess we would say fortunately,
with the one big beautiful Bill Act that just passed,
you know, we we should see some reasonable income tax rates,
you know, for the meantime. But overall, with our deficits,
our national debt, Social Security Trust Fund, you know, being
very rapidly depleted, we're in it for taxes, which means

(25:04):
you're going to be paying more than you ever thought
possible during your retirement years. So ask us about the
tax efficient retirement plan. All right, So this next offer
is for the next ten callers in the next ten minutes. Folks,
it's for a no cost or obligation written plan for retirement,
built by our team of certified financial professionals, individualizing customers,

(25:27):
just for you. Now you cannot just call and say
send this to me, mail this to me. You must
come in go through our process to receive this at
no cost or obligation. Again, I'm offering the next ten
callers in the next ten minutes a no cost or
obligation written plan for retirement, individualized customers just for you.
Call in right now and it's yours.

Speaker 4 (25:48):
Sounds like a plan, Trip give us a call advice
like that, showing you just how important it is to
meet with a financial coach like Trip, somebody who understands
the ins and outs of the financial world. We invite
you to take advantage of this opportunity today. Make sure
that you're on the right path. Get that second opinion,
find out if your path is based on well, your
path is based on your risk preferences, your budget, and

(26:09):
of course your goals. Eight hundred ninety four zero six
nine seventy nine. That's eight hundred ninety four zero sixty
nine seventy nine a quick break for us. We're going
to come back with a whole lot more on the
road to retirement with Trip Limehouse.

Speaker 2 (26:20):
On this next segment, we're going to highlight some smart,
practical ways to simplify your retirement planning. We want to
help you stay ahead of the curve because the road
to retirement doesn't have to be full of.

Speaker 7 (26:32):
Potholes, hurricanes, tornadoes, and fire. These are serious situations we
plan in advance for. The Volatility of the market can
be just as devastating when a market correction does occur.
There are strategies you can employ to balance back. Called

(26:55):
Trip Limehouse and his team at Limehouse Financial Today and
eight hundred nine four zero sixty nine seventy nine, or
text the keyword Trip to eight hundred nine four zero
sixty nine seventy nine. We've made it easy, folks. All
you have to do.

Speaker 8 (27:10):
Is call or text the keyword Trip to eight hundred
nine four zero six nine seven nine.

Speaker 4 (27:22):
We're back on the road to retirement with Trip line House.
My name is Steve so All, having a fun show
as we always do with Trip Trip guiding us along
the journey on the way to retirement, and again we
avoid the potholes trip we avoid the detours. What we
want is smooth salem. That's what you can help create
in our retirement.

Speaker 2 (27:42):
Yes, that's our primary focus here is to help people
avoid the wrong turns on the road to retirement that
can lead to dead ends. I mean, you know, I
love the We was carefully thought out many years ago.
And actually I want to give some kudos to my
friend Andy, Andy Peak. He actually helped me come up

(28:03):
with a name for the show of the Road to
Retirement show, and we were brain stormmer one day before
we got on the air, and I said, you know,
I'm thinking about this, I'm thinking about this, and anyway,
he helped help formulate that. But the road to retirement,
it can be really however you want it to be,
but it has to be by design intentional. People can

(28:24):
relate to a wrong turn, a dead end. People can
relate to a rough road. People can relate to running
out of gas. And some of those things are more unpleasant,
if you will, than others. You know, it's just the truth.
But at the end of the day, proper planning, you know,
and in particular by utilizing the services of an expert

(28:48):
like myself and my investment advisor Jonathan Riley private, excuse me,
Proper planning can can really lead you to a great retirement,
you know, where you're staying ahead of the curve and
avoiding potholes. So so, I don't know. I I'll often
ask myself, why is it really difficult for people to

(29:12):
shift from saving to spending in the retirement.

Speaker 4 (29:18):
Well, it makes sense. We spend our whole life saving
thinking we've got to save for retirement. We gotta save,
we gotta save, so when we get there, I understand
it might be a little different to a little difficult
to say I can spend that money now.

Speaker 2 (29:32):
And then there's there's this word that goes along with
the decumulation, right, sure exactly. I mean people really never
put too much thought into that word. I love being
an income and a distribution planning expert because we're different
than others out there. Okay, I know this for a
fact because when we do these events that we do,
these social security and income planning workshops and other events

(29:56):
as well, you know, we're asking the people who are
attend do you have these things that we're talking about?
A social security roadmap and income and a distribution plan,
a safe money strategy, a tax efficient retirement plan, or
requirementimum distribution roadmap. The list goes on and on and on,
and nobody has these things. I know that there. I

(30:17):
know that we have a lot of job security because
we're doing things different than others out there, and we're
helping people do better in retirement. And it is it
is a big transition going from accumulation to decumulation. But folks,
it should not be scary for you as long as
you have the four letter word, the peel a end,
the plan. A reality is that most people spend maybe

(30:40):
twenty five, thirty thirty five years, you know, just growing
their money, building wealth, maximizing their contributions and hopefully watching
their balances grow. That's a long time to be doing
something right. And then in a long time and then
they arrive at this point where now they're going to
do the opposite what they have been doing. They're going

(31:01):
to start spending right. Yeah, So I guess what happens
is retirement flips the script. Suddenly it's not about how
much you earn, but it's about how wisely that you
draw down. And there's some mindset shifts that really can
help retirees become confident spenders and show them how to

(31:25):
have a sustainable income, you know, for the duration of retirement.

Speaker 4 (31:31):
But that's what you do. That's one of the beauties
of setting up sitting down with you and putting that
plan together, is you have those benchmarks along the way.

Speaker 2 (31:40):
Well, I appreciate that compliment. Thank you very much. We
are having fun helping people, and I mean, this is
what we choose to do, and we're really really good
at it. I mean, I'm just thinking of it was
probably six seven weeks ago we brought on a couple
as a client, and it like they just told us
that their whole experience was comfortable and that they came

(32:03):
in here not thinking they were going to be able
to retire. They were both mid fifties, which is a
younger probably younger than most people would retire. And we
built them up, we went through our process, built them
a plan all of the things that we do here,
and we said, hey, you can retire, and like, I mean,
they teared up and they were just so ecstatic and

(32:24):
they said, this is great. This is the opposite of
what we were expecting. They just didn't think they had enough. Folks.
Imagine you coming in here to see us and us
telling you, yeah, you can do this. You can avoid
the potholes and retirement you can't avoid the wrong turns
and here's how and demonstrating it to you. It was
great too because when we built that plan for that

(32:44):
couple and we showed them that they could retire, I mean,
they just had one question for us, what do we
do next? And we brought them on as clients and
we're working with them and you know, well on their
way to just doing all the things they want to do,
traveling and fun things and you know they like to
camp and be outdoors and spend time together and it's great.
You know, so how do how do retirees you know,

(33:07):
calculate their true income needs and and also to do
that to make sure that that the fun stuff is included.
I think there's a baseline, if you will, Steve m
you know, basic living expenses.

Speaker 4 (33:24):
Well and again that's just beginning, Yeah, the beginning of
our lifestyle. What what lifestyle do we want to achieve
in retirement? And again that's a discussion that you have
with everyone.

Speaker 2 (33:34):
Well, I want to encourage people to go to our
website limehouse Financial dot com. Limehouse financial dot Com. We've
under the resources tab, we've got a budget worksheet, folks,
take advantage of that. We put it out there for you,
print two or three or five whatever. Take a look
at what it costs you just to live your basic
living expenses. Okay, we've got to make sure we can

(33:57):
accomplish that goal, and then take it a step further.
Let's get it to traveling, hobbies, gifts, you know, things
that bring you joy and purpose, and let's budget for
those as well. So there's this interesting survey that we
read recently. It was done by the eber I Employee
Benefit Research Institute, and it found that forty six percent

(34:21):
of retirees spend more in the first two years of
retirement than expected. So, you know, folks, you can avoid
underestimating what retirement might really cost by doing the things
I'm encouraging you to do right now, which is, you know,
first of all, start trying now to live on a
retirement budget, but before you retire, start trying to live

(34:44):
on a retirement budget now before you retire, okay, and
on the whole budget thing. Just put one together. You know,
this is going to be so helpful for you. Based
upon my experience helping thousands and thousands of people retire
successfully in the last two decades. Is these little things
that we're sharing with you are going to help you
avoid the potholes on the road you retirement. They're going

(35:05):
to help you avoid the wrong turns and the dead ends.
Okay eight hundred nine four zero six nine seven nine.
Steve would just get so wound up here. I can't
even remember if I mentioned the in this segment, the
events I have going on coming.

Speaker 4 (35:18):
Up there, you have not in this segment.

Speaker 2 (35:21):
Well, I want to do that just now. Thanks for
you know, keeping me straight, and thank you for helping
me drive in my lane at the right speed. You're
you're good at that. It's teamwork, folks. We've got some
great events coming up this week. I'd like to invite
you to. The first one is going to be this
Monday night, the twenty first. Pay close attention. We've got
an awesome movie that we're offering to you at the

(35:42):
AMC Movie Theater in Harbison, six point thirty pm this
Monday night, no cost for obligation. It's The Baby Boomer
Dilemma movie. Fantastic movie on how to avoid potholes in retirement,
How to avoid wrong turns in retirement, A lot of
great content and it's about a ninety minute show rated
PG by the Motion Picture Association of America. It's really

(36:04):
the first if you will film out there that's geared
to talk to people who are headed to retirement and
talk about what you need to do different and what
has changed over retirement. A lot of experts on this film.
We're gonna have a great time again this Monday, the
twenty first, six pm, excuse me, six thirty pm at

(36:28):
the AMC Harveiston Movie Theater, no cost for obligation, The
Baby Boomer Dilemma movie. You must absolutely must call to
register for this eight hundred nine four zero six nine
seven to nine eight hundred nine four zero six nine
seventy nine or Limehouse Financial dot com under the events

(36:51):
tab Register now. The second event we have going on,
it's gonna be Tuesday and Thursday night this week, the
twenty second and the twenty fourth. It's going to be
in a State Planning workshop at the Lexington Chamber of
Commerce at six thirty pm Tuesday and Thursday of this week.
This is an event where we talk about what is
estate planning? Who needs to do it, why you need

(37:13):
to do it, and how we can help you do it. Okay,
everybody needs to have proper estate planning done. This is
a great event, about an hour long, lots of great
content if you'd like to attend that. Eight hundred nine
four zero six nine seventy nine is the number. So
you know, back to talking about how to avoid these potholes,

(37:35):
if you will, on the road to retirement journey. There's
this one big one, one big one that starts with
an ie an eye inflation.

Speaker 4 (37:45):
Ooh, that's one you can't get away from.

Speaker 2 (37:47):
Well, it's a pretty big threat to retirement income. And
you know, folks, you just need to understand it and
learn what you can do about it. It's definitely easy
to overlook, but it does quietly eroded purchasing power. I
mean it's just three percent annually. Expenses double over twenty
four years. Now, that's a serious challenge when you're on

(38:10):
a fixed income. So we want to help you make
sure that you have the right type of investments and
strategies that help ensure a retirement plan that keeps pace
with rising costs. Okay, so you know, again, this is
the type of work that we do here, and we
want to make sure we're incorporating that into your plan.

(38:30):
Let's not for say, thinking about healthcare costs. There's hidden
healthcare costs the factor into retirement planning. Many times we
mentioned to you that for sixty five year old couple
entering retirement today, they're going to need about three hundred
thousand plus dollars for healthcare expenses, not including long term care.
Let's don't forsake incorporating that into your plan, you know.

(38:54):
And then there's market volatility, folks, I mean, do you
want the market to determine your direction on the road retirement.
Make sure that you are checking out the green line principle. Okay.
That's a safe money strategy where zero is your hero,
you can't lose, and you have a lot of upside potential.
Everyone needs a safe money strategy. It's called the green

(39:15):
line principle. Okay, folks. This next offer is for the
next ten callers in the next ten minutes. It's for
a written plan for retirement, individualized and customers, just for you,
built by our team of certified financial professionals, at no
cost or obligation. Folks. You can't just call in and
say send that to me or email that to me.
You must come in go through our process to receive

(39:36):
this written plan for retirement, individualized and customized just for you.
Next ten callers in the next ten minutes will receive
it for no cost or obligation.

Speaker 4 (39:46):
Fantastic Trip eight hundred nine to four zero six nine
seven nine. It is that simple eight hundred nine four
zero sixty nine seventy nine. Quick break back with another
segment here on the road to retirement with Trip Limehouse.

Speaker 2 (39:57):
Listeners have questions and we love answering them. Folks, make
sure you're calling in with these questions. Here we go
that and a whole lot more when we come right back.

Speaker 9 (40:12):
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

(40:32):
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 sixty nine seven nine.

Speaker 4 (40:58):
We're back on the road to retirement with Trip Line House.
My name is Steve said, oh, having a great show.
We have been a fun show today. Trip covered so
much ground. I like it. This sort of the practical
approach to things, sort of no nonsense. Come on in,
let's sit down, let's get that plan put together better. Yet,
if you've got a plan, I mean, you're all about
that second opinion because I think it's important to get that.

(41:18):
And as they say, you can't get the second opinion
from the guy who gave you the first one.

Speaker 2 (41:23):
Yeah, and I appreciate you bringing that up. Sometimes I
forget about that. Folks. If you are out there and
you have a plan, or or you think you have
a plan, whether someone's given it to you, or whether
it's in your head or you wrote it down yourself, whatever,
come on in for a second opinion and we'll let
you know how you're doing and where you stand. And
you know, everything we do here, Steve is from a

(41:43):
fiduciary capacity. We only make recommendations in people's best interests.
So you know, there's been many cases where someone's come
in for that second opinion, and we've said, hey, you're
doing good, don't change anything. But just as many when
we've said, you know what, we can help you do better?
You know, I mean, we're always out there looking at
what's in the marketplace. Since we're independent, it's pretty cool

(42:04):
because we're not tied, linked or obligated in any one
particular strategy or company or anything like that. So we,
you know, can go out there sometimes and find new
things that people aren't aware of and put them on
the table and say how about this. You know, as
an example for something pretty cool happened recently, we met
with a person and it was it was for a
regular appointment, if you if you will, not a first,

(42:25):
not a not a second opinion. But this gentleman's number
one goal was legacy planning, like that's all. That was
his top goal. He just wanted to leave his money
to his kids. And so what we what we were
able to find was this great strategy. And he had
one point six million dollars in his IRA, and he
was taken R and DS at a rate of about

(42:47):
five percent a year. We found this great strategy for
him that would give his family a guaranteed death benefit
that would increase by seven percent every year until the
guy died. He could still take his arm ds and
it didn't matter if his money performer didn't perform, because
he knows that his one point six million is going

(43:07):
to grow by seven percent every year. That's the death
benefit that's going to go to his family. I mean,
he was ecstatic. We were ecstatic. We were glad to
help him. It's little things like this that make a
difference in people's lives. Folks. We're having fun helping you
and we're grateful for it. I want to give a
shout out to all my longtime listeners out there. You
guys are awesome. Thanks for tuning in. And it's a

(43:28):
pleasure meeting you out And sometimes I'll just be out
somewhere and people be like, hey, I recognize your voice.
I think you're that guy on the radio. Yes I am,
and I'm thankful to be able to do what we do,
providing you with good information on an ongoing basis and
for you know, new listeners, you're in the right place, folks.
The Road to Retirement Show with Limehouse Financial we do

(43:50):
a lot, and we do it well. We want to
see you welcome in and Of course, while I'm talking
about folks, I got to just give a shout out
to my best friend in the world, my lovely wife Amy. Honey.
I love you so much and I'm so thankful that
God put you in my life all those years ago.
You and I are having a great time and it's
only going to get better, honey. So here we go

(44:12):
with these listener questions. Steve throws you got it.

Speaker 4 (44:16):
Here's our first one. It's from Ralph and Lexington. He
and his wife say they've got about six hundred and
twenty thousand dollars saved in a four oh one K,
but unsure whether to start pulling from from it once
they retire at sixty four or hold off to avoid
bumping up their tax bracket. They also have a small
pension kicking in at sixty five. So the question is

(44:39):
how do you help someone time four oh one k
withdrawals to avoid unnecessary taxes. That's a good question.

Speaker 2 (44:47):
Yeah, Ralph, thanks for being a listener and for calling in.
As I say, often these questions that you have that
others have, Sometimes they're the same question, says someone else hasked,
but they didn't want to, you know, call in or whatnot,
so very helpful for for all folks out there. So
timing for one K withdrawals to what unnecessary taxes? You know,

(45:14):
so retiring at a fairly young age, you know, sixty four,
having a small pension, it's going to help out. I
think a lot of revolves around this. I mean, you know,
social security timing. You know, have you guys started with
your Social Security benefits or you're delaying a little bit.

(45:35):
You know, what is your what is your income? You know,
where is your income come from?

Speaker 8 (45:39):
Uh?

Speaker 2 (45:40):
You know, once you do retire, if you're not going
to make withdrawals from this four to one k? You know,
what what is your what is your required you know,
retirement income to meet your your needs just to you know,
keep the lights on. Maybe you have a mortgage, buy groceries,
put gas in the car, that thing. What's your lifestyle goal?
I mean, there's so many questions. So I guess helping

(46:04):
you avoid unnecessary taxes. Well, one of the things is
at retirement, sometimes a mistake that people make is they
leave their four one K with their former employer. Now
that's really not a good idea for several reasons. Number one,
when you make a withdrawal from that four to one K.

(46:26):
It's a mandatory twenty percent withholding, and that may be
you know, that may be what needs to be withheld,
but in general that can be a little high for people.
When the money's in an IRA, you can control the taxes.
You can say don't withhold or withhold less or whatever. Okay. Also,
when the money comes out of the four one K
into an IRA, you know you have more investment options

(46:46):
and lower fees. So that's one thing Ralph I want
to share with you is let's just not leave the
four to one K where it is. And by the way, folks,
if you're out there and you're fifty nine and a half,
just know that more than likely you can roll your
four to one K over into ira that we can
set up for you right now. You can still continue
to work, you can still get the matches, you can
still contribute to your four to one K. The difference

(47:08):
is you've moved from having an account to having a plan.
You see, an account is just where money is located,
but a plan is what's going to get you to
where you want to go and keep you there. So
make sure you ask us about rolling over your four
to one case, Ralph. As far as unnecessary taxes, I mean,
they're all the taxes are always going to be there
because this is a tax deferred retirement vehicle, you know,

(47:29):
So again, let's just build. You know, at the core
of it, it comes down to building you an income
and a distribution plan that's going to meet your needs
now and in the future. And perhaps it does involve
you withdrawing funds from your tax deferred retirement hopefully plan
that will help you with versus the account. And I mean,
but the unnecessary taxation, it's I mean, it's always going

(47:52):
to be The taxation is always going to be there.
And as far as bumping up into the next tax bracket,
you know, sometimes that just happens. And quite frankly, I
think that could be a blessing because if you're bumping
up to the next tax bracket, that means you have
pretty sufficient retirement income and that's a blessing in and
of itself. But at the end of the day, Ralph,

(48:13):
what it comes down to is having a tax efficient
retirement plan. I would encourage you to come on in
and sit down with us. Let's build it for you
and show you how to do things the best way possible.

Speaker 4 (48:22):
All right, fair enough? Give us a call Ralph if
you're interested. It's eight hundred ninety four zero six nine
seven nine. We have Sandra in Chapin. Sandra's wondering. She's
sixty years old, recently retired, has most of her savings
in a traditional IRA. She's considering a Wroth conversion, but
doesn't want to get hit with a big tax bill
all at once. Just what we've been talking about a trip.

(48:44):
What's a smart way to approach roth conversions over time,
especially before RMD start.

Speaker 2 (48:51):
Well, thank you for being a caller, and thank you
for talking about roth conversions. I'm going to go to
the RCA, which is a Wroth conversion analysis, and that's
something that as an income and a distribution planning expert
that we can provide for you. Jonathan O'Reilly, my investment
advisor and myself can can give this to you. It's

(49:14):
going to show you if wroth conversion makes sense or
if it doesn't make sense. It's going to show you
you know how much you could save by converting or
not save. I think that there is an advantage, of
course to doing you know, Wroth conversions prior to your

(49:35):
requirementium distributions starting because you know, if you if you've
taken all of your tax for money out of tax
efford status prior to RBS, then you're not even going
to be subject to having to be forced to take
money out at a certain age, you know, seventy three
or seventy five. So I think that a smart way

(49:55):
to approach it over time is just to do it strategically.
Very few of our clients just do really big lump
sums of Wroth conversions because it will drive you to
the next tax bracket. But again, I mean, we're in
a pretty favorable tax environment now, so that could be
a strategy for you at the end of the day.
I think, since you don't want to get hit with
the big tax build all that wants, strategically, strategically mapping

(50:18):
it out over a period of time maybe you know,
two or three or five years, could be in your
best interest. But a starting point for you would be
to come in and see us and get the Wroth
conversion analysis so that we can for sure determine you know,
what's best for you and share with you when to
do it. So come on in and sit down and

(50:39):
talk with us. About that. We'll build you the written
plan for retirement, and we'll make sure that we are
mapping out any wroth conversions. Folks. We've got some great
events coming up this week. I want to let you know.
Monday night, we've got a movie that we're showing at
the AMC Movie Theater in Harveston. This is a no
cost or obligation movie, The Baby Boomer Dilemma, rated PG

(50:59):
by the Motion Pictures Asociation of America. Come in and
sit down with us in the Big Movie Theater and
enjoy The Baby Baby Boomer Dilemma movie this Monday night
at six thirty pm at the AMC Movie Theater in Harveison,
No cost for obligation eight hundred nine four zero six
nine seven nine. Also, we've got two estate planning workshops
this week Tuesday and Thursday, the twenty second and the

(51:22):
twenty fourth at six thirty pm at the Lexington Chamber
of Commerce. This is an estate planning workshop, no cost
for obligation. We're going to talk about who needs to
do it, what it is, why you need to do it,
and how we can help you do it. Okay, come
on in and see us. We're just so thankful that
you tuned in for another great episode of the Road
to Retirement Show. Last off for the days. For the
next ten callers in the next ten minutes, it's for

(51:44):
a written plan for retirement built by our team o
certified financial professionals, no cost or obligation to you. For
the next ten callers in the next ten minutes, you'll
receive a written plan for retirement, no cost for obligation.
Eight hundred nine four zero six nine seven nine Limehouse
Financial dot Com just want to wrap up today by

(52:06):
thanking you for spending time with us. We value you
and we want to see you. We're having fun helping people.
We are experts in retirement, income planning, and social security
planning and much much more. Visit us on the web
at limehouse financial dot com. Hey, make sure you tune
in next week for another great episode of the Road
to Retirement Show with Limehouse Financial. And until then, God bless.

Speaker 10 (52:27):
You if you remember these TV shows. You're getting ready
to retire.

Speaker 6 (52:40):
And everybody see a big pair of feet there, cheesy mustache,
you'll think.

Speaker 3 (52:44):
Of you, you guts.

Speaker 2 (52:46):
Well, I'm one guy who ain't prejudiced against anybody who
may be lesshipy than me.

Speaker 10 (52:55):
It kind of sneaks up on you, doesn't it.

Speaker 2 (52:57):
Oh geez.

Speaker 10 (52:58):
You deserve a secure or independent retirement, our 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. Retirement planning doesn't have to be difficult. Get

(53:23):
the facts based approach that you deserve all at no cost,
with no obligation. Call the Road to Retirements trip Limehouse
eight hundred nine fours zero sixty nine seventy nine or
text trip to eight hundred nine four zero six nine
seventy nine.

Speaker 1 (53:41):
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.