Road to Retirement 08-09-2025

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):
Thinking you have a retirement plan is very different from
actually having one written down and working for you. When
we come back, we're going to outline some common retirement
planning myths and the risk of assumptions that could leave
your future under funded. As Donald Rumsfeld once said, there

(00:41):
are things we don't know that we don't know, and
when it comes to retirement, that couldn't be more true.
Coming up next, do you want to avoid taking a
wrong turn or your retirement roads. The road to retirement
is a long one, and you just don't want to
make wrong ball.

Speaker 1 (01:00):
Buckle up, we're getting ready to take a retirement road
trip together. It's the road to retirement with Trip Limehouse.

Speaker 2 (01:08):
It's the perfect amount to map it out. That road
to retirement is.

Speaker 3 (01:12):
Key, is key.

Speaker 1 (01:13):
Get on the road to financial security and independence. Just
like many of Trip's happy clients and retirement partners.

Speaker 2 (01:20):
My money is safe using the green line principle that
you taught me about.

Speaker 3 (01:24):
Thank you so much.

Speaker 1 (01:26):
Let's get this trip started. It's the road to retirement
with Trip Limehouse.

Speaker 4 (01:34):
Hey, welcome in everybody. This is the road to retirement
with Trip Limehouse. He's guiding this behind the wheel today
is he is each and every week. He's been doing
that for better than twenty years, helping folks get to
and through retirement. You can learn more at limehousefinancial dot com.
That's Limehousefinancial dot com and again so much more High Trip.
How are you good to see you? Always a pleasure.

Speaker 2 (01:55):
Yes, it's great to be with you, Steve likewise and
of course great to be with that are listening audience
out there, Welcome in, folks, if you're new to the show,
we're having fun talking about all things retirement, about how
you can get there stay there. Oh this is great.
And if you're a long time listener, I want you
to know I really appreciate it. Thanks for tuning in

(02:15):
yet again. So I don't know about assumptions, but you
know what we've heard about those, right.

Speaker 3 (02:20):
I do know what we know about them.

Speaker 2 (02:23):
Yeah, there's plenty in my life I've made and then
you know, somewhere are okay and most of them maybe
not so. And you know, when it comes to actually
doing this thing called retirement and doing it the right way,
we definitely don't want to assume that we're on track
for retirement. I mean, think about it. You know, we've

(02:45):
got things like a four to one K you know,
Iraise Brokeer's accounts, you know, Wroth I raise. Some folks
out there have pensions, and then Social Security, you know,
one one of these days for people, and then thought processes, Well,
I'm gonna be okay, I must be covered. Well, not exactly, Steve.

(03:07):
Let's just break down a few of the we'll call
them most common misconceptions that really I think could derail
a person's retirement if they're not careful. How about that?

Speaker 3 (03:19):
All right?

Speaker 4 (03:19):
So let's talk about someone that's a little bit older
and they say it's useless, it's too late to start planning,
there's no point.

Speaker 2 (03:26):
Hmm. Yeah, we hear that. Oh it's just too late,
it's just too late. Well, I would share with folks
that it really is never too late. I mean, ideally,
someone beginning to save in their twenties is the way
to go. But you know, people who are fifty or over,

(03:46):
you know, they can take advantage of savings as well.
As a matter of fact, there's this thing called catch
up contributions, and I often say that they'll catch up
with someone later, because what we're talking about right now
is tax deferred retirement savings. And so why the reason
I say it'll catch up to you later is because
you if you're utilizing the catch up provision currently, then

(04:09):
that means that you know, you're you're deferring taxes to later,
and that often shocks people when actually they get the
retirement and are making withdrawals from these taxf accounts. But
catch up contributions really can help some people. I mean, Steve,
this is great in twenty twenty five. So if a
person is fifty or older, utilizing the catch up provisions,

(04:34):
a person can contribute up to thirty five hundred dollars
a year to a four to one K and that's
you know, due in part to the expanded IRS limits.
So you know, I mean, something like that really could
help propel someone to you know, the next level on
the next level. I always say, just even a small
increase in savings now I can have a you know,

(04:58):
a compounding effect, you know, much later as time goes by.
I still I like the idea of people saving. But
you know, we engage in this conversation like how should
I where should I save? Really? And sometimes we say
utilize the catchup provision in the tax referral. And then
sometimes we'll say, you know what, just pay the taxes

(05:21):
currently because we're in a pretty favorable tax environment, and
then save the money elsewhere. But I think that, you
know what, I think the danger is with this when
we when we talk about that, you know what I
think the danger is for people?

Speaker 3 (05:32):
What's that.

Speaker 2 (05:34):
When people are saving in a tax effer retirement vehicle
like a four to one K or TSP or four
or three B or you know IRA, they kind of
for the most part, not always, but for the most
part they're like, that's my do not touch money, like
it's for later. And that's definitely true. But if they're
saving in something like a brokerage account, Okay, so take

(05:57):
take the thirty thousand, five hundred and a four one K. Yeah,
if you're not fifty nine and a half and you
take money out of there, you're gonna be penalized ten
percent and pay taxes. That's like, you know, taboo, right,
But if you have money in a brokerage account, that
same thirty thy five hundred, and you're under fifty nine
and a half and you needed to, you could take
money out of it and you're not going to get
a ten percent penalty and you may pay some taxes

(06:20):
depending on if you've had some capital gains or whatnot.
But you know, the tendency would be for people that
have the second thing I was talking about, the brokerage account,
the tendency would be for them to maybe utilize and
drain those funds even though they're quote earmarked unquote for retirement,
you know what I mean. So it's almost like people

(06:40):
know that if it's if it is a four to
oh one, oh, that's for later. But if it's a
brokerage account, okay, I can use it now. So this
would have to be for somebody who's really disciplined. So folks,
I'm just encouraging you just to save whatever way is
going to work the best for you, utilizing either before
tax or after tax. Just realize that with the four
tax catch up provisions that they could catch up to

(07:02):
you later. I just, you know, I wanted to be
real clear about that. That's why I say the catchup
can catch up to you later. The reason I know
that is because we meet with people all the time,
and you know, on average, we're working with people that
have seven figure portfolios, and those folks, you know, when
they start taking a look at how much they have
to take out or they start utilizing those dollars, they're like, wow,

(07:24):
I've been paying a lot of tax right now. And
of course you are, you know, two million dollars in
tax deferred vehicle and you have to take out four
percent for requirementum distribution. You're taking out eighty grand whether
you want it, don't want it, whatever, And of course
that's going to bump up into the next tax bracket.
And I think that's a great thing. I think that's
a great problem to have. But the bottom line on

(07:44):
being too late to start planning, folks, is it's never
too late. Okay, just start doing it now. What about
what about healthcare?

Speaker 4 (07:53):
That's a huge Healthcare is a I mean that's something
that it's I mean again, I think it's everyone's certainly
made your concern and needs to be discussed. And but hey,
good news is Medicare is there, takes care everything, not
a problem.

Speaker 2 (08:07):
Well, that we're talking about another assumption that people have, Oh,
I'll just get on Medicare, It'll just take care of everything.
Oh you know, yeah, I'll walk.

Speaker 4 (08:13):
Into Medicare is great certainly for a lot of things,
but not everything.

Speaker 2 (08:17):
Yeah. I mean people are oh, I'll walk in the door,
I'll walk out the door. Well, let's just not assume that, folks.
I mean, we're talking about assumptions that could really derail
your retirement. And this is another one, that Medicare is
going to cover all your health care costs. I just
want you to think again, because you know, a twenty
twenty four estimate from Health View Services projects a sixty

(08:44):
five year old couple retiring this year, we'll spend over
six hundred and seventy nine thousand dollars in lifetime healthcare
cost even with Medicare and supplemental insurance.

Speaker 3 (08:59):
Wow.

Speaker 4 (08:59):
That's I mean, those are big numbers, trip, and that's
obviously very realistic. And I think as we begin to
really map out our retirement, when you're thinking about thirty years.
That seems like a pretty fair amount that's going to
be spread out over that time.

Speaker 2 (09:13):
Heck yeah, it is. Well, when we open up today,
we talked about the importance of having a written plan,
and folks, we emphasize that all the time constantly because
that's what you need to get you to and through retirement,
and that written plan it needs to account for these

(09:33):
out of pocket healthcare cost or you could be in
for an expensive surprise. So oh yeah, we want to
help you avoid that. I mean, we talk about all
the time. Our job is to help you avoid wrong
turns on the road retirement that lead to dead ends.
Eight hundred nine four zero six nine seven nine is
our number. Call in with your questions, your comments, call

(09:57):
in to make an appointment. Also visit us on the
web at limehousefinancial dot com. Hey, I've got some exciting news, folks.
I'd like to personally invite you to some events we
have coming up here shortly on August thirteenth, which is
a Wednesday, at six pm. We're going to be at
the Lexington County Public Library. We're going to have a

(10:18):
no cost for obligation workshop on social security and income planning.
Very comprehensive in depth workshop talking about all things retirement. Wednesday,
August thirteenth, six pm, Lexington County Public Library, Social Security
and Income Planning Workshop. And then subsequently on Saturday, August sixteenth,

(10:40):
we're going to have a breakfast event. This is no
cost obligation. We're going to serve you breakfast. It's also
a Social Security and income planning workshop. It's going to
be at the Lexington Chamber of Commerce and we're going
to start at nine am. Okay, it's at the Lexington
Chamber of Commerce Saturday, August sixteenth, No cost or obligation

(11:03):
in Social Security or in complanning workshop. Now, folks to
attend to either one of those, you must call in
eight hundred nine four zero six' nine seventy nine or
visitors on the web at Limehouse financial dot. Com we
must make sure there's room for you on the. Roster all,
right back to these, Assumptions, steve what about people who, think,
oh my spouse is just gonna inherit.

Speaker 4 (11:23):
Everything, well, SEE i think that IS i, mean that's
a pretty logical. Assumption you, Know, hey well we're. Married you,
know IF i, go she gets. Everything not a, Problem
not that.

Speaker 2 (11:34):
Simple it's just not an automatic. THING i, mean there's
a lot of poor planning that happens out. THERE a
lot of times a parent will not have a will
or a trust or a proper beneficiary, designation and assets
might not pass as you or your partner would. Expect
so what we do is experts is ensure that your
intentions are legally documented and protected so that doesn't happen

(11:56):
to your. Family but don't just assume that an inheritance
is going to fund this long journey called. Retirement, Folks
i've got an offer for the next ten callers in
the next ten. Minutes it's for a written plan for
retirement built by our team of certified financial, professionals no
cost or. Obligation you must be one of the next

(12:17):
ten callers right now eight hundred nine four zero six
nine seven, nine and you will receive a no cost
or obligation written plan for retirement built by our team
of certified financial professionals at no. Cost for obligation and,
folks this is not something that you can just call and,
say email me or mail. Me you must come in

(12:38):
go through our process to receive. This give us a.

Speaker 4 (12:41):
Call sounds, fantastic trip do give us a call while
you're thinking of. It it's eight hundred ninety four zero
six nine seven, nine eight hundred nine four zero sixty
nine seventy, nine no, cost no, obligation to help you
get a better handle on your financial. Situation you can
find out what your investments are really costing you because
of high fees. Emissions you'll dig into what tax implications

(13:02):
can be down the, line and how much income you
can securely generate from that once you do move into.
Retirement call us right now while you're thinking of. It
eight hundred nine four zero six nine seven. Nine that's
eight hundred nine four zero sixty nine seventy. Nine quick
break back with lots more on the road to retirement
With Trip limehouse right after.

Speaker 2 (13:19):
This, folks we've been talking about you having a retirement,
plan a written. Plan we've been talking about not making
assumptions that could leave your future. Underfunded we're going to
continue right on with that coming up.

Speaker 1 (13:35):
Next there are many analogies and metaphors you could use
to describe today's current economic, climate economic climate and retiring in.

Speaker 2 (13:49):
It you could use the.

Speaker 1 (13:50):
Hurricane we watch it, coming we know it's, coming but
are we acting we could go to the three little,
pigs and the big bad wolf of the economy is
on the.

Speaker 3 (14:01):
Loose i'll huff And i'll puff And i'll blow your hou's.

Speaker 1 (14:05):
Down here are the. Questions do we have sandbag strategies in?
Place do we have a retirement house made of bricks
instead of straw or twigs and? Sticks is your retirement
plan designed to be strong and fortified even in the
worst case? Scenarios are strategies in place to build in,
growth protection and income and help alleviate that fear of
running out of money in? Retirement if your answers are,

(14:27):
no then you need a good retirement specialist on your.
Side Call Trip limehouse Of Limehouse financial eight hundred nine
four oh sixty nine seventy. Nine eight hundred, nine four
oh sixty nine seventy.

Speaker 4 (14:41):
Nine we're back on the road to retirement With Trip.
Limehouse some nice drive on the, way and we here
really clearing some things, up answering some. Questions talking about
ASSUMPTIONS i think that a lot of us have had
over the, years and it's just sort of a nice
to get get sort of reminded that things are not

(15:02):
not always as smooth as they seem. Right, Yeah AND
i mean we ended the last one talking about my
spouse will just inherit. Everything that whole estate planning piece
is such an important part of the retirement puzzle and
again something that you, guys you guys spend some time.

Speaker 2 (15:16):
With we always check in with people on the estate
planning and we offer estate planning here At Limehouse. Financial
we're very clear we're not. Attorneys we don't give legal,
advice we're not, CPA's we don't give tax. Advice but
you know what as experts and income and distribution planning
is as, planners we talk about all that and we
make sure that you are up to speed on what

(15:36):
you need to be. Doing and we also have you,
know ways where we show you how we can help
you accomplish those. Goals but that was a big. One you,
know people thinking that their spouse will just inherit everything
and that will carry them through. RETIREMENT i, mean sometimes
it can work out that. Way we just brought on
a client recently and they had a huge. INHERITANCE i
mean it was high seven, figures and it may they

(15:58):
were already, clients but this really made a, big big
difference on what they were going to do from this point,
forward you, know and legacy planning that we started doing with.
Them but you, know just as a, backtrack in the
first segment today we're talking about don't make. Assumptions so
we talked about how it's never too late to start.
Planning we also talked about how we don't want to
assume That medicare is going to cover all your healthcare.

(16:20):
Costs and you, know how about this, one let's get
into you, know catching up, later how about this so?

Speaker 4 (16:30):
Well, so in other, words life comes at us fast and, furious.
Right sometimes obviously we don't see what's. Happening maybe we've
made a. Decision we're going to stop saving for you,
know stop saving right, now and.

Speaker 3 (16:40):
We'll get back to. It no big. Deal, Yeah i'll
just make. Up, yeah we'll just make up for.

Speaker 4 (16:43):
That.

Speaker 3 (16:44):
Yeah easier said than, done it sure.

Speaker 2 (16:46):
IS i, mean think about how quickly time. PASSES i,
mean in waiting for a better job or a market.
UPSWING i think it's just like rolling the, dice it really.
Is it's a. GAMBLE i don't. KNOW i think time
is the key and green and compounding. RETURNS i, mean for,
example just putting away five hundred bucks a month at

(17:07):
a very young age of thirty, five that can grow
to you, know four hundred and seventy thousand dollars by sixty.
Five but if the same person were to wait till forty,
five that drops around two hundred and forty thousand. Dollars
so you, know it cuts a. Half so procrastination costs
more more than you, think, folks it really. Does and you,

(17:30):
know we just we we want to take a look
at where we are. Currently we want to have the forethought, of,
yeah this is WHERE i want to, go WHERE i
want to end, up and we want to map it
all out in a very methodical. MANNER i, mean as
an expert in these. Areas you, know this is WHAT i.
Do this is what my investment, Advisor jonathan O'Reilly, does

(17:52):
is we help you understand this is what it's going to,
take you, know how to put all this. TOGETHER i
got a caller, recently and this was a gentleman that
had been listening to the show for a long. TIME
i haven't seen him. Yet he got on our, calendar
but what he said to me WHEN i talked with
him was it's just time for me to get serious
about all this retirement planning, stuff and you, know he

(18:14):
kind of was falling in that category Of i'll just
catch up. Later BUT i committed him for just calling
and making an appointment with, us because now we're going
to be able to you, know if you will get
him back on, track see where he, is and then
get him back on track for a successful. Future folks
that could be you don't procrastinate eight hundred nine four

(18:34):
zero six nine seven, nine get on our, calendar comes
spend some time with. Us it's always no cost for.
Obligation we're here to help you. Out as matter of,
fact we're here to help you. Out This, Wednesday august to,
Thirteenth i'd like to invite you to an event that we're.
Having it's going to be at The Lexington County Public
library at six. Pm it's a social security and income planning.

(18:55):
Workshop no cost for. Obligation we'd love to have you This,
Wednesday august the thirteenth at The Lexington County Public library
at six pm four A social security and income planning.
Workshop i've been doing these for almost twelve years, now
AND i can share with you that people are glad
when they attend the. Event they tell us that they're,

(19:16):
like this is different than others That i've been to out.
There you, Know i'd like to come talk with you
further about WHERE i am and learn more about how
you can help. Me so give us a call to
attend that. Event and also On saturday the, sixteenth we're
having a breakfast. Event now we will serve breakfast at
this event to. You this is no cost or obligation

(19:36):
and it's going to be at nine am at The
Lexington chamber Of Commerce, Saturday august the, Sixteenth Social security
And Income Planning workshop where we serve. Breakfast. Folks to
attend either one of these, events you must call in
eight hundred nine four zero six nine seven nine or
visit Limehouse financial dot com under the events tab to

(19:59):
see where where we are and to make. Reservations hey, Hey,
steve something we haven't brought up this episode yet is
a safe money strategy that people need to really really
be looking. At let's talk about that for a.

Speaker 4 (20:10):
Minute, sure that's the green line. Principle that is your, creation.

Speaker 2 (20:15):
THE Glp green line. Principle, yeah it's a you know
people often say a. TRIP i hear you talk about
the green line all the. Time what is. It, Well,
folks pay close. Attention it's a safe money strategy where
zero is your, hero meaning you can never lose any
of your, money and you have a lot of upside.

(20:35):
Potential and just because you're getting one hundred percent safety
does not mean that you don't have a lot of
upside potential to turn a great interest. Rate, okay everyone needs
a safe money. Strategy you may be out there now
wondering what can you do to protect a part of
what you have saved so it'll never go. Away you'll
always have it and you can have access to it

(20:57):
as needed over, time or maybe maybe even utilize it
to create a personal pension plan and give you income
that you can never. Outlive just just ask us about
the green line. Principle everybody needs to have that as
a part of their. Plan, Sometimes, steve people, say you, know,
well how much SHOULD i do and how much SHOULD
i have in a safe money? Strategy and the answer

(21:17):
is everybody's a little bit. Different it depends on your risk.
Tolerance you, know we professionally manage money here At Limehouse,
financial so we have you, know a wide array of
portfolios that we'll work into a person's plan depending on
their goals and. Objectives but one things for, sure every
plan that we build has that safe money strategy in.
It and there's the reason behind. THAT i, mean, folks

(21:39):
we need to have money that's in a place where
we can never. Lose we can't control the, market and
Everybody i've ever asked this question to you said. No
and the question is do you want the stock market
to control the direction of your journey on the road to?
Retirement and everyone has said. No so if you fall
in that category and you don't currently have a safe

(21:59):
money any, strategy give me a call eight hundred nine
four zero six nine seven nine and just ask us
about the green line. Principle all, right back to the
assumptions that you need to avoid so that you're.

Speaker 3 (22:13):
Retirement this is a pretty common, one isn't.

Speaker 4 (22:15):
It, WELL i, MEAN i GET i think one of
the more common ones too that we're talking about here is,
Well i'm not gonna need as much money WHEN i.

Speaker 2 (22:22):
Retire, yeah that's a big. One, WELL i, mean and
for some people that can, be you, know an accurate.
Scenario that's that's why before we build plans for, people
we we go through our budgeting worksheet with. Them and
we understand what their their current expenses are and then
we talk about what are they what are their anticipated
retirement living. Expenses but there's things that often get, overlooked

(22:46):
such as lifestyle. Goals you. KNOW i mean it's really
easy to, say, Oh i'm going to retire and it
only costs, me you, know twenty six hundred dollars a
month to. Live, Okay well are you going to be
able to you, know travel or do fun, things or you,
know give contributions to your church or you, know help
an adult child if they you, know something were happening

(23:09):
in the background they need. HELP i, mean you, KNOW
i get how people just minimize that. Number but what
we see At Limehouse financial When jonathan, O'Reilly my investment,
advisor AND i sit down with, people we see that
that typically the number is much greater than a person.
Thinks so you, KNOW i mean it could go the
other way, Too it could be totally really. Low but

(23:31):
our observation is that people who we help retire often
spend more than they thought they were going to. Spend
and it could be you, know travel home. Renovations and
we had the factory inflation. TOO i mean your dollars
are losing purchasing power over. Time and, folks if you
do not have a written plan that accounts for rising,

(23:52):
costs you, know you may run out of gas on
this long. Journey so we want to make sure that
that never happens to. You and speaking of, that something,
ELSE i want to make sure that it never happens to.
You is you choosing the wrong social security? Strategy that's Something,
see that's a bad assumption that Social security will cover.

Speaker 4 (24:14):
Me sure, Well and AGAIN i think it's. EASY i,
mean we, think, WELL i can take it as early
as sixty.

Speaker 3 (24:20):
Two MAYBE i.

Speaker 4 (24:20):
SHOULD i, mean that is such a big decision and
one that shouldn't be taken, lately and one that certainly
shouldn't be tackled alone in my.

Speaker 2 (24:28):
Opinion, no if for a married, couple there's thousands of
filing combination. Strategies for if you're, single there's. Hundreds ask
us about the Social security. Roadmap that's when we learn
about where you. Are we make a professional expert recommendation
on when is the best time for you to file
For Social. Security but the bottom line on Social security
is it's not designed to be your only. Income in,

(24:50):
fact the average monthly benefit in twenty twenty five is
only around nineteen. Hundred and you know we got taken
account projections that show the Trust fund Of Social seit
probably are going to face a short fall by the
year twenty thirty. Three, folks we're having fun helping. People
that's what we do here At Limehouse. Financial we want
to help, you so pay attention to this next offer

(25:11):
is for the next ten callers in the next ten.
Minutes it's for a written plan for retirement built by
our team of certified financial professionals for no cost or
no obligation for. You so if you're one of the
next ten, callers we'll provide this to. You it's, individualizing,
customized just for. You, now you can't just call in
and say mail that to me or email that to.

(25:31):
Me you must come in go through our process to
receive this no cost or obligation written plan for, retirement
built by our team of certified financial, professionals just for.

Speaker 4 (25:41):
You and it's just a phone call. Away it's eight
hundred and ninety four zero six nine seven. Nine it's
just that. Simple it's an opportunity to sit, down get
a financial road, met put together trip and the team
are therefore you to take that complex financial world and
turn it into something that really just makes. Sense it's
your chance to get a true practical financial. Review so
if you're listening right, now call us eight hundred nine

(26:01):
four zero six nine seven.

Speaker 3 (26:03):
Nine you Heard trip.

Speaker 4 (26:04):
Ten callers right, now get the comprehensive financial.

Speaker 3 (26:07):
Review you see where you are.

Speaker 4 (26:09):
Today but more, importantly it becomes a roadmap that can
help get you to where you need to.

Speaker 3 (26:14):
Be in, short you've got nothing to.

Speaker 4 (26:15):
Lose call right away eight hundred nine four zero sixty
nine seventy, nine eight hundred nine four zero six nine seven.
Nine oh quick break for. Us we're gonna come. Back
we've got lots more to discuss on the road to.
Retirement what Trip.

Speaker 2 (26:27):
Limehouse you've been planning your retirement for, decades setting timelines
and building that nest, egg and then life, happens a
sudden layoff of, healthcare, scare or family's, situation an unplanned
early retirement can throw a wrench into even the most thoughtful. Plan,

(26:48):
folks how can you pivot with confidence when retirement comes
before you're. Ready that's what we're unpacking right after.

Speaker 5 (26:57):
This, so Mister, JOHNSON i understand you have questions about
the report we provided.

Speaker 3 (27:07):
You, WELL i do.

Speaker 2 (27:09):
Lots ACTUALLY i don't.

Speaker 5 (27:10):
UNDERSTAND i love that it's leather, bound.

Speaker 2 (27:14):
Really after information about?

Speaker 3 (27:16):
Me i'm concerned That i'm.

Speaker 5 (27:17):
Not you think that the gold tassels were a nice?

Speaker 3 (27:20):
Touch how about.

Speaker 1 (27:21):
The, Calligraphy, well doesn't really say anything about my retirement, SPECIFICALLY.

Speaker 5 (27:25):
I, mean how about the custom. Illustrations, look here's you
a first looking all, sad and here's you after meeting with, us, happy, happy.

Speaker 3 (27:35):
Happy WELL i WISH i. WAS i don't need all
This roman. NUMERALS i, mean what IS mxxv.

Speaker 5 (27:42):
Mister, johnson that's page oneenty twenty.

Speaker 2 (27:45):
Five do you.

Speaker 6 (27:49):
Want to retirement report that just looks? Nice or do
you want to set an axibo plan built specifically for.
You Trip limehouse and the team At Limehouse financial focus on,
strategies chalenting your best, interest strategies designed great their retirement
you've always. Envisioned schedule your consultation now by calling eight
hundred nine four oh sixty nine seventy, nine eight hundred

(28:11):
nine four oh six nine seven.

Speaker 3 (28:13):
Nine welcome, back.

Speaker 4 (28:20):
Everybody the road you retirement, continues and Trip linehouse is
here guiding us along the. Way you see us each
and every, week been helping folks for better than twenty,
years and between he And, jonathan his investment, advisor they
really help you get going and get. There and this
is what we're going to talk about right, Here, trip
when retirement chooses, us whether than us choosing. Retirement and

(28:40):
that's a situation that you probably face a time or,
two Right.

Speaker 2 (28:42):
TRIP a lot of folks come in and they've just
suddenly been replaced by a younger worker who maybe as
working for half of what they were being. PAID a
lot of that's been happening with the whole dose thing
we see a lot with in the federal. GOVERNMENT i don't,

(29:04):
know the companies are doing things different and they're not
necessarily treating people as they used. To so as a,
result sometimes retirement is choosing a person versus a person choosing. Retirement,
sure and you, KNOW i don't. Know it could be
a lot of. Things could be corporate, downsizing could be
a medical. Diagnosis so it could just be you, know

(29:27):
life's unexpected terms and that can cause someone to feel.
Disoriented it can cause someone to you, know maybe take
unnecessary financial. Risks you, know maybe they don't know how
to replace. Income they have retirement accounts and they don't
know which ones to, utilize and folks on that, SUBJECT

(29:49):
i want to share with you that there's a big
difference between a retirement and account and a retirement. Plan
an account is where money is, located and that's a good,
thing but a plan is what gets you to and through,
retirement and everyone needs. One so we're going to just
talk about how to, reassess re, evaluate and maybe even

(30:10):
reinvigorate your portfolio and your purpose when retirement comes. Early
so let's just dive right in and let's talk about
assessing the financial. IMPACT i think that probably be a first.
Step what do you, Think, oh.

Speaker 4 (30:24):
Well, yeah because you got to figure, out all, right
what happens, Now so my paycheck unexpectedly, stops how AM
i going to recreate? That especially If i'm a little bit.
Older AND i, mean you, know you said. It age
discrimination is certainly alive and well for those you, know
for those of us over, SIXTY i mean it's it's
just a.

Speaker 2 (30:39):
Fact, yeah when the when the money stops, WORK i,
mean when the person stops, working the money has to.
Work and as an income and a distribution planning expert
to myself And jonathan or', rolly my investment. Advisor that's
what we do is we put all this together for,
you so don't. Worry you're in the right. Place if
this is, you, folks by the, way if this is,

(31:01):
you if you've if retirement has chosen, you and you
haven't chosen retirement and you're just not sure what to,
do how to do, it and you want to, know
give us a call right now eight hundred nine four
zero six nine seventy Nine Limehouse financial dot. Com get
on our calendar so we can help. You, OKAY i,
mean nobody likes. It nobody likes to dwell on these

(31:23):
worst case. SCENARIOS i sure, don't you, Know but really
walking through the numbers with an, expert it can be surprisingly.
Empowering and you, know we do a lot of we
check out a lot of surveys and research. Stuff but
this is pretty interesting when according to The Employee Benefit

(31:44):
Research institute also known AS, herbie nearly forty eight percent
of retirees say they left the workforce earlier than they. Planned,
wow that's a big.

Speaker 3 (31:57):
Number.

Speaker 2 (31:57):
Trip, yeah, yeah it's huge just because of, healthcare uh
and primarily due to the health concerns or a company.
Changing we see a lot of people that we bring
on as clients and they just tell us my companies
leadership change and management change That i'm doing the job
of three people right. Now nobody's listening to. Me the you,

(32:20):
know the the younger, workforce the ethic isn't like it should.
BE i, mean all kinds of. Stuff but, yeah basically
that's nearly half of all retirees are dealing with the.
Unexpected SO i guess WHAT i want to talk to
our listeners about is you, know how they can get
clear on their new? Baseline? Uh and and what does that?

(32:43):
Involve what AM i talking about? Now i'm talking About
let's let's let's review your income. Streams, okay let's take
a look at your fixed expenses and, uh let's let's carve,
out if you, will some new categories like healthcare or

(33:04):
long term care needs and lifestyle. Goals let's put all
that together for. You and once that's, done once we
assess the financial, impact allow, us if you, will to
figure out for you on your, behalf what your retirement

(33:24):
success rate will. Be, okay because, folks that's really what
it comes down to is what is your retirement success? Rate,
okay and if you want to know what it, is
just call. Us we'll get you in the, office learn
more about, you and we'll build you a written plan
for retirement to demonstrate to you what it. Is and

(33:46):
you know, what if it's not high, enough if it
doesn't mean the, benchmark we're going to, say you know,
what you may have been forced into retirement and it's
not a good. Thing and when we assess the financial
impact of, that you're gonna have to go back to
work part time or something like. That or we may
be you may be surprised and your retirement success rate

(34:07):
may be high enough to where we, say, hey this is,
great this is great that you got laid, off this
is great that you. Quit you, know so let's just
take the wondering out of, it. Folks eight hundred and
nine four zero six nine seven. Nine and you need
to talk about this As i'm thinking about it, too
because for a lot of People steve, healthcare you know

(34:28):
Before medicare is just a huge thing and they're not
quite sure how to tackle it.

Speaker 4 (34:32):
Well especially if you get laid off or something happens
and you're forced to retire before sixty, FIVE i, mean
what do we do?

Speaker 3 (34:37):
Trip that's a big gap to.

Speaker 2 (34:39):
Fill it. Is one of the biggest financial gaps in
early retirement is. Healthcare here's how it, works. Folks if
you retire before age sixty, Five medicare is not available
yet unless you're on, disability and private insurance can be very.
Costly as an, example a cobra, policy so if you quit,

(34:59):
work you can take your health insurance with you for
a period of. Time that's called. Cobra it can bridge
the gap, temporarily but it often runs up to above
one hundred percent of the original premium and that's never
a good. Thing. Now, alternatively though policies made available through

(35:20):
The Affordable Care act otherwise known As, obamacare they can
offer some income based subsidies depending on your gross. Income
so or now this is this could be a possibility.
Too if your spouse is still, working their employer sponsored
coverage could be a life and, also if you think about,

(35:40):
it a budget. Saver so what's the smartest way to
plug that healthcare gap without draining retirement? SAVINGS i think
just having you, know the advice of an expert like,
myself like my investment, Advisor, jonathan O'Reilly to help you
understand here's the best way for you to do health
care until you Hit. Medicare and by the, way when

(36:00):
you Hit, medicare you know we're poised to help you
with the right, selection whether it's A medicare advantaged plan
or A medicare supplement. PLAN i, mean that's one of
the things we do here At Limehouse financial is we're holistic.
Planners we're helping you with all your needs relating to retirement.
Planning and by the, way, folks if you weren't aware of,

(36:21):
this we're doing it from a fiduciar, capacity only making
recommendations in your best, interest so you know this could
be a big. Thing is just understanding understanding? Healthcare, STEVE
i don't think we brought up the workshop the segment
have WE i can't remember we have? Not, okay, WELL
i want to do that we have before we move, Forward.

(36:41):
Folks we really like seeing, you really like helping, you
and that's one of the many reasons why we continue
to do these educational workshops on an ongoing. Basis So
i'd like to personally invite you guys to the next
couple of events that we have coming Up, Wednesday august the,
thirteenth we're going to be at The Lexington County Public

(37:01):
library at six. Pm it's a social security and income planning,
workshop no cost or. Obligation. Again That's, Wednesday august, sixteenth six,
Pm Lexington County Public, Library Social security And Income Planning,
workshop no cost for. Obligation and then also On, saturday
the sixteenth Of, august we're going to be having a

(37:23):
breakfast event where we serve you. Breakfast this is no
cost for, obligation and it's going to also be A
Social security And Income planning workshop nine am at The
Lexington chamber Of. Commerce, Saturday august, sixteenth nine am at
The Lexington chamber Of, Commerce Social security And Income Planning,
workshop a breakfast, event no cost for, obligation and we'd

(37:46):
love to have you guys. There you must call to
reserve for those though eight hundred nine four zero six
nine seventy, nine or visit us on the web at
limehouse financial dot. Com so about this stretching a retirement
nest egg? Further how about that stretching something?

Speaker 4 (38:06):
Further, well THAT'S i, mean if you find yourself in
a situation where you know you're retired earlier than you.
Thought you got to learn how to stretch. That that's
where the flexibility in the plan comes.

Speaker 2 (38:15):
In, yeah we're talking about unexpected, retirement maybe people forced in.
Retirement so let's say that your timeline suddenly shifts and
you need retirement savings to last not twenty five years
but thirty. Years, well a five year difference might not
sound like a, lot but it could mean tens or
even hundreds of thousands of dollars in addition to withdrawals over.

(38:37):
Time so could minor lifestyle, adjustments, downsizing reducing discretionary, spending
or even relocating make your savings go the. DISTANCE i don't,
know or should we be thinking about ways To boo's
income now while we still? CAN i don't, know, folks
BUT i tell you. What this is the type of
thing that we do here At Limehouse. Financial we sit
down with you to get to know, you to show

(38:57):
you how to get there and stay there and be.
Successful for the next ten callers in the next ten,
minutes we're going to offer a no cost for obligation
written plan for, retirement built by our teamo certified financial,
professionals at no cost for obligation to. You you must
be one of the next ten callers in the next ten.
Minutes we will not just send this in the mail
or email it to. You you must come in and
go through our. Process sit down with. Us allow us

(39:20):
to help, you. Folks allow us to give you this
written plan for, retirement built by our team of certified financial,
professionals at no cost or. Obligation next ten callers in
the next ten. Minutes eight hundred nine four zero sixty
nine seven.

Speaker 4 (39:33):
Nine it's advice like that that shows you just how
important it is to meet with a financial coach Like Trip,
both somebody who truly understands the ins and outs of
the financial. World we invite you to take advantage of
this opportunity to make sure that.

Speaker 3 (39:47):
You are on the right.

Speaker 4 (39:47):
Path that path is based on your risk, preferences your,
budget and of, course your. Goals eight hundred nine to
four zero six nine seven, nine eight hundred nine four zero.

Speaker 3 (39:57):
Sixty nine seventy.

Speaker 4 (39:59):
Nine quick break back with one more segment here on
the road to retirement With Trip.

Speaker 2 (40:02):
Limehouse from your inbox to our. Airwaves let's tackle the
questions you've been waiting to hear. About coming up right.

Speaker 1 (40:10):
Now losing, sleep worrying about your retirement savings and market.
Volatility you've earned your, money And Trip limehouse will work
tirelessly to protect and grow. It his no cost personalized
review starts with listening to you and results in a,
clear actionable ridden. Plan start sleeping easier. Tonight Call Trip

(40:34):
Limehouse Limehouse financial eight hundred nine four zero sixty nine seventy,
nine eight hundred nine four oh sixty nine seventy.

Speaker 3 (40:45):
Nine, hey welcome.

Speaker 4 (40:50):
Back another segment to go here on The road to
retirement With Trip. Limehouse, oh we've had a nice ride,
today smooth smooth on the road and getting closer to,
retirement getting excited along the. Way trips there to help us,
certainly you know with the green line, principle helping us
again safe money.

Speaker 2 (41:08):
Strategy, yep you're making. Me you're getting me really excited
bringing that. UP i don't know about anybody else out,
there but, YEAH i appreciate you, just you, know dropping
that in BECAUSE i, forget we get so we get
so wound up and we're revved up rolling down the.
ROAD i forget sometimes to bring up things and here you.
Go BUT i, think just real, QUICK i got to
talk about it since you brought. Up but the green

(41:30):
line principle is a safe money, strategy. Folks zero is your.
Hero you cannot lose any of your, money a lot
of upside. Potential call us eight hundred nine four zero
six nine seven nine and ask us how to preserve
and protect the money that you've already worked so hard.
For everybody needs a safe money. STRATEGY i also think
everybody needs a best friend and an incredible person in their.

(41:55):
LIFE i got a shout out to, Mine. AMY i
love you so much once. AGAIN i have been so
much fun doing life with. You thanks for always supporting
me and carrying me and providing for. ME i love
you so, Much, Honey you're the best. Ever i'm so
Thankful god put us together all those years. AGO i
always like to brag about, her and and you, know
she listens to the. Show she's my biggest. Fan and

(42:18):
she occasionally she will get a little her cheeks will
turn a little, Red she'll blush a little bit when
she hears me talk about. Her i'm, like, Oh, KANYE
i got let everybody, know and let you, know most,
importantly let you know how MUCH i love you SO i.
Do you're the. Best so, listeners you, guys are really
important to, us and when you take the time to call,
in we you, know we want to take the time

(42:41):
to answer your. Questions and so that's what the segment is.
About AND i think we should just kind of get
right into. It AND i love THE i always SAY
i love the listener questions because What i've Learned steve
is that somebody will want to know, something but they
might not, ask and then they might have someone in
their peer group that'll ask the question and it'll answer

(43:03):
the other person's. Question that happens so much on the.
Show so, folks make sure he keep sending us those
emails and with your, questions keep calling in eight hundred
nine four zero six nine seventy. Nine And, keith you,
know let's just do what we do help you to
avoid the wrong. Terms so let's let's do that right.

Speaker 4 (43:21):
Now, sure jumping In nicholas's, first he's In. Colombia he's
got about eight hundred thousand dollars spread across or Traditional
ira and a four to oh ONE. K but he's
starting to worry about how much taxes will eat into
the withdrawals once our mds kick. In is there a
smart way to start shifting some of that money now

(43:42):
to reduce their future tax burden without triggering a huge
tax bill.

Speaker 2 (43:46):
Today, Hey, nicholas we call that the tax efficient retirement.
Plan everybody needs a tax efficient retirement. Plan and you
know this question is just so like revolves around. That you,
know What i've seen is that people who are contributing
to retirement, accounts they just don't really think about the

(44:10):
taxes later. On now, though then when they come in
to see, us you, know that's when it comes. UP
i want to commend you for having the forethought about.
That this is a good. THING i also want to
tell You i'm proud of your for spending an eight
hundred Grand you, know you really are like most people
that we work with as high, uh you, know high balance.

(44:31):
Portfolios so what can we do to help you reduce
your future tax burden and not trigger a huge bill. Today,
well we can strategically do things like wroth conversions over
a period of, time and right now taxes are on, sale,
uh and this could be a great time for you
to start doing some roth. Conversions but before we would
ever do, that we would do THE Rca wroth conversion

(44:53):
analysis we would take into account other income you, have
other assets you. Have i've been the big picture planning
is what we're doing here At Limeemouse. Financial and it
may be that sometimes just a lump, sum you, know
paying taxes now could be the best or it may
be like you, know spreading it out over a period of.
Time and what happens is the money comes out of

(45:13):
the traditional, ira the taxes are paid at today's, rates
and then they go into a ROTH ira where they
grow tax. Free you can withdraw money tax free and
you can pass it on tax. Free so that would
be one of the strategies that we could talk about
with you as far as going into a higher tax.
Bracket sometimes when we help our clients with these roth,

(45:34):
conversions they do move temporarily into a higher tax, bracket
but we talk with them through that process and we
back it up, with, hey here's the. Facts doing this
will benefit you long. Term So, nicholas come on in
and see us and let's just help you with. This
build you that written plan for retirement that we always talk. About.
Folks everybody needs a tax efficient retirement, plan.

Speaker 4 (45:56):
And trips a guy that can help make that happen for.
You eight hundred ninety four zero. Nine here we Go
jenny as a Normal she says she retired five years
ago with a solid nest, egg but rising, prices especially on, food,
gas and, insurance are starting to strain her six thousand
dollars a month. Budget what's a good way to adjust
a plan so that you can keep up with inflation

(46:18):
without cutting too deeply into lifestyle or your.

Speaker 3 (46:21):
Portfolio?

Speaker 2 (46:23):
Wow, great great. Question you, KNOW i love the fact
that you're confident about your solid nest. Egg throughout the show,
today we're talking about not making assumptions that can cause
your retirement to be. Underfunded we were talking about misconceptions
and and you, know so if you didn't have a

(46:44):
chance to listen to the rest of the, Show i'd
encourage you to go back To iHeartRadio or you, Know, Spotify,
Google apple, wherever and pull up The road To retirement.
Podcast we turned the show into a podcast for that very,
reason because we talked a lot about that. Today but you,
KNOW i think you're not alone when you feel your

(47:04):
budget starting to. Strain you, Know i'm not quite sure
where what you may have saved or not have. Saved
sometimes it's just adjusting a withdrawal. Strategy you, know sometimes
there's things like ON i wouldn't say necessarily, extreme but
i'd say it's on kind of moving that direction strategy

(47:26):
that someone might do if they don't have a, mortgage
perhaps they're doing a reverse, mortgage which can be a
wonderful planning. TOOL i know there's a lot of negativity
that people think and feel about, those AND i get,
IT i understand. It but you know, what if you
don't have any if you don't have a mortgage and
a lot of equity in your, house and your budget's getting,
strained then this is just one thing that you could

(47:48):
do to help. Out, Okay so that's something that comes to,
mind you, know really getting into that budget and looking
at where your money is. Going visit limehousefinancial dot. Com
limehouse financial Dot com under the resources tab there's a
cash flow, worksheet budget, worksheet very in. Depth you, know

(48:09):
perhaps just go back look at your. Spending maybe there's
some things that you can eliminate or cut down, on you.
Know and THEN i mean there is a thing of
just you, know part time. Work sometimes people are just
going back to, work finding something that they really like
and and engaging in. It just to kind of meet
meet you know ends if you. Will, SO i hope

(48:30):
you're not struggling to the point of having to do.
That but if you, are you're not, alone you. Know
let's look at also your portfolio and how it's. Structured
we do what's called The Portfolio Observation. Report, folks a
lot of you out there don't know what's in your.
Portfolio you don't know how it's, performing you don't know
what fees are associated with. IT i, mean fees can
erod it a portfolio. Immensely you, know maybe your portfolio

(48:53):
isn't invested, appropriately maybe you're too, conservative too, Aggressive it
could be either. Way ask us about The Portfolio observation And.
Report we do everything from a fiduciary, capacity only making
recommendations in your best. Interest so for, you if your
budget is starting to be strained and we were to
look at your, portfolio maybe we, could you, know invest

(49:15):
it more appropriately and perhaps generate higher returns and that
that could help you out. There so there's a lot
of different ways that we can help. You you, KNOW
i understand what you're going. Through you're not the only.
One just come on in and see us and let's
work through this with, you help you out as best
we can fair.

Speaker 4 (49:33):
Enough eight hundred nine four zero six nine seven. Nine
we've got time for one. More we've Got charles And.
Casey he says he's considering putting two hundred and fifty
thousand dollars into an annuity to help cover their fixed monthly,
expenses but he's unsure about locking up that much. Money
the question then, becomes how should someone decide if an

(49:53):
annuity makes sense for, them and what are the trade
offs they should really understand?

Speaker 2 (49:58):
First, yeah that's, Yeah charles's that's a great. QUESTION i,
mean a quarter million into anything is a, lot you.
Know the biggest thing is relying on the expert advice
of someone like myself from my investment, Advisor johnathan. O'Reilly
that's taking into account your whole, picture where you, are
where you want to, go and showing you how to get.
There it's all about the. Plan it's not necessarily about

(50:18):
what you're doing with that amount of. MONEY i, mean
maybe it would be the best thing for you to,
do maybe it would be the worst thing for you to.
Do we got to make sure that you are covering
those fixed monthly expenses and also protecting and preserving your.
Money if this is the only two hundred and fifty
thousand that you, have we're not going to put all
two hundred fifty thousand into something like, that something like an,
annuity and there should be a healthy concern about locking

(50:40):
your money. Up for our, clients it's a non issue
because we're always ensuring that they have enough money outside
of something like this liquid and they're checking their savings
or just in their brokerage account or other ira that
we're helping professionally. Manage SO i like your. Idea, listen
a wonderful planning. Tool is an annuity certainly help with

(51:00):
those here At Limehouse. Financial it could be the right
thing for. You same, answer, though as the last couple
of callers come in and see, us let's build you
a plan to get you where you want to. Go,
folks we really appreciate. You we're glad you spent some
time with us, today AND i want to encourage you
to tune in next week for another great episode of
The road To retirement. Show this offers for the next

(51:22):
ten callers in the next ten. Minutes it's for a
written plan for retirement built by our team of certified
financial professionals at no cost for obligation to. You all
you got to do is be one of the next
ten callers and you'll get that written plan for, retirement no,
cost no, obligation just for.

Speaker 3 (51:38):
You so it's Fantastic. Trip do give us a.

Speaker 4 (51:41):
Call we'd love to hear from, you giving you the
opportunity to review your individual, circumstances all with no, cost no.
Obligation what will you find? Out will you find out
how much risk you're? Taking you'll find out if there
are red flags that might be a problem for you
down the. Line do you really know what you're paying
in fees or? Commissions Let trip take a deep dive
and find out for. You tax liabilities will be, discussed

(52:01):
and of, course a lifetime retirement income plan that includes
maximizing That Social security. Benefit take advantage of this right,
now no, cost no obligation when you call us right.
Now eight hundred ninety four zero, six eight hundred ninety
four zero sixty nine seventy Nine, Again trip always a,
pleasure one of my favorite shows of the week to
do with you and look forward to it every.

Speaker 2 (52:22):
Week Thanks deeve for all your hard. Work, guys due
in next week for another great episode in until, Then
god bless.

Speaker 6 (52:27):
You if you remember THESE tv. Shows you're getting ready to, retire.

Speaker 4 (52:40):
And everybody see a big pair of feet, there cheesy,
mustache he'll think of.

Speaker 3 (52:44):
You you guts, WELL i Hate i'm one guy who
ain't prejudiced against anybody who may be lesshi pidy than.

Speaker 6 (52:54):
Me it kind of sneaks up on, you doesn't.

Speaker 4 (52:57):
It oh.

Speaker 6 (52:57):
Geez 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've worked hard for your
money and will work just as hard to protect it
and grow. It retirement planning doesn't have to be. Difficult

(53:22):
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 fours zero sixty nine seventy nine
or text trip to eight hundred nine four zero six
nine seventy.

Speaker 1 (53:39):
Nine 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.

Speaker 4 (53:58):
Action