Road to Retirement 08-16-2025

Episode Transcript

Speaker 1 (00:00):
Information provided is for illustrated purposes only and does not
constitute investment, tax or legal advice. Information has been obtained
from sources that are deemed to be reliable, but their
accuracy and completeness cannot be guaranteed. Neither Trip Limehouse nor
his guests are reliable for the usage of information discussed.
Always consultable the qualified investment, legal, or tax professional before.

Speaker 2 (00:18):
Taking any action. Interest rates are the highest they've been
in over a decade, and today's annuities are offering features
that your old contract probably never dreamed of. The question
is should you cash out, exchange or simply let it ride.
Let's explore when it makes sense to upgrade and when

(00:41):
you're better off holding type. Coming up on the Road
to Retirement show, do you.

Speaker 1 (00:47):
Want to avoid taking a wrong turn on your retirement roads?

Speaker 2 (00:51):
The road to retirement is a long one, and if
you just don't want to make wrong.

Speaker 1 (00:55):
Wrong, well, buckle up. We're getting ready to take a
retirement road trip together. It's the road to retirement with
trip Limehouse.

Speaker 2 (01:04):
It's the perfect amound to map it out. That road
to retirement.

Speaker 1 (01:08):
Is key, is key you get on the road to
financial security and independence. Just like many of Trip's happy
clients and retirement partners.

Speaker 2 (01:16):
My money is safe with using the green line principle
that you taught me about. Thank you so much.

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

Speaker 3 (01:30):
Welcome in everybody. This says the road to retirement with
Trip Limehouse. Tripp is the guy behind the green line principle.
He's been helping folks for a couple of decades and
then some along with his investment advisor Jonathan O'Reilly, they
put they really help get you two and through retirement
eight hundred ninety four zero six ninety seven and Trip,
How are you nice to see you?

Speaker 2 (01:51):
Yes, it's always great to be with you, Steve. I'm
doing doing fantastic of whether the storm, all this rain
we've had lately, and it's actually been a little always fresh.
You know. Amy and I just did some traveling. We
went up to Michigan and spent some time with her family,
and we were up there it was like South Carolina weather,
and then we come back here and it's like Michigan
weather and we're a little confused, but you know what,

(02:13):
it's okay. We had and we get those puppy dog
guys from Fozzy and Daisy. They're like, take us for
a walk, and we're like, it's pouring down rain. No,
we can't do that. We have three degrees. We're not
doing that either, Yeah, exactly, No, we're not burning your
paws up. So but anyway, everybody's good and uh, we're
all good here at the office and thankful to be

(02:35):
helping people do something that they always dream of. And
that's called retire. You know, folks, we work and work
and work, and we have four sight in mind, uh
you know, and we're like the light at the end
of the tunnel, if you will. And that's that's called retirement.
It's a journey and it has to be mapped out,

(02:55):
planned for and you got to be ready for it.
And as experts in these areas, this is what we're
helping you to do. So thanks for tuning in to
another great episode of The Road Your Retirement Show. You
can reach us at eight hundred nine four zero six
nine seventy nine call in with your questions or comments
or to get on our calendar. Also Limehousefinancial dot com.

(03:17):
That's where you'll find us on the web. I love
this segment Steve, because we're talking about annuities and there's
many many people out there that have purchased them over
the years. They have them, and they're older and they're
just maybe not sure what to do, and sometimes it
just gets put on the shelf and not utilized, and

(03:39):
there's so much that can be lost or so much
that can be improved upon. So we wanted to bring
that out today and talk about.

Speaker 3 (03:45):
It right well, and again, I mean, you know, you
think about it, and like you said, there are a lot
of people have an old annuity and there are different
things and what's happening today or what I've learned from
you know, just talking with you Trip regarding annuities is
they're a whole different ballgame today than even ten years ago.
They're completely different.

Speaker 2 (04:04):
Oh, completely, yeah, definitely, And you know, think about this
just from an interest rate perspective. The rates have just
jumped dramatically since early twenty twenty two, and that means
that new contracts for nudies, whether it's a fixed anuity
or a multi year guarantee anuity, or even a fixed
index anuity, the newer ones could offer you guys out

(04:28):
there payouts that are far richer than what you locked
in on. And on top of that, really, the industry
has evolved, the annuity worlds has evolved in us for
the better, Steve, you know.

Speaker 3 (04:43):
Why very much, Yeah, go ahead, And why you.

Speaker 2 (04:46):
Know why, it's because there's features on contracts now that
we're not on contracts years ago. There's new riders. And
a rider is a feature that you add to a
contract for a certain benefit that may be there. It
could be for a death benefit, it could be for
an inflation protection. It could be to give someone a bonus.

(05:08):
It could be to create guaranteed income for life or
provide additional liquidity. I mean, all that's in common. But
here's the thing. Just because the newer ones have features
that the older ones didn't have, Folks, it doesn't necessarily
mean that you should automatically, you know, trade in the

(05:30):
one that you purchased years ago. So we just want
to talk about how we can help you by reviewing
and existing annuity that you may have. Okay, we want
to talk about the pitfalls to watch out for and
share with you how to know when to do a
ten thirty five exchange. And that's when you can take

(05:51):
an existing contract and replace it with a new contract.
We want to talk to you about how and when
that might be the smartest tax free move that you
could make this year. So let's just start with a
conversation on interest rate Steve.

Speaker 3 (06:05):
Yeah, let's because we right now they are as as
much as they've been in years, and people are taking
advantage of it, and people like you are helping us
get there.

Speaker 2 (06:16):
Well. The interest rate environment, obviously, is something that we
pay very close attention to here at Limehouse Financial. My
investment advisor Jonathan O'Reilly and and you know myself, we
we follow what's happening with rates and rate structures and
we understand how they affect, you know, people who are
still working and who are retired. We we kind of

(06:38):
have seen i don't know, maybe like an interest rate reset,
and the question would be for existing annuity owners, is
now the time? So we've seen fixed annuities and multi
year guarantee any guaranteed annuity rates climb from around two
percent just a few years ago, meaning two percent if

(07:00):
you put money in it, you were going to earn
two percent fixed to about four to five percent today
and sometimes even a little greater than that. So you know,
that's a big deal just in a short rate. I think.

Speaker 3 (07:12):
It's huge.

Speaker 2 (07:14):
Well, it's a huge income difference over from over a
decade ago. And for someone who bought a contract, let's
just say, back in twenty fifteen, locking in those older rates,
I don't know, it might now feel like driving a
car that's stuck in first gear. You're just like, you know,
not going anywhere. I mean you're moving along, but not

(07:37):
very quickly, and you're just stuck. So, you know, I
just want to mention how we help clients, you know,
way out the benefits of the interest rates that today
are higher versus the cost of you know, exiting an
old contract. The way we do that is just through
careful review of an older contract. I mean, at Limehouse's

(08:00):
financial folks, we function from a fiduciary capacity, only making
only making recommendations that are in your best interest. So
I'm thinking of a client we brought on about two
months ago. They came in and they did have an
older annuity. And these folks had been retired for many years.

(08:20):
Uh and you know, because we're helping people to retire,
and we also are helping people that are retired. So
for this couple that I'm mentioning right now. They they
were retired already, they brought in an older annuity, and
we just did a careful analysis on it. You know,
we took a look at, you know, what the cash

(08:42):
value was. We took a look at what the death
benefit was. We took a look at if there were
any surrender charges or penalties if they were to do
something different with that contract. We took a look to
see if there were any market value adjustments, all of
the things that come into play when one should be considering,
you know, can they do something different. So anyway, we

(09:04):
did our due diligence and we read the contract. I
think that's a key thing because folks, you know, having
an expert like myself with over two decades of experience
in this area, read the entire contract on your behalf
and make sure that you're not going to be walking
away from something that you should keep. That's just imperative, Okay.
So don't fall into the trap of someone just looking

(09:25):
at a number for you and saying, oh yeah, oh yeah,
we can do this, because that might just put you
in a bad position and you might not even be
aware of it. So anyway, for this particular couple, we
did all the things I just mentioned, and we said, guys,
take a look at all of these features. They're great.
This is what you could do, and you could move
into a new contract and here's what it would look like.

(09:47):
And they said, we're so thankful that we heard you
on the radio. We called and came in and anyway,
as a result you know, of doing that and other
work just that we do normally, we brought them on
as clients. We built them a retirement roadmap, as we
so call it, and we did a ten thirty five
exchange which was tax free and penalty free, where we

(10:08):
took their existing, their formerly existing annuity and we put
it into a new contract that was just much better.
The interest rate was better for him, had different features
that now they needed that ten years ago that they
didn't need, and now we're on our way. So that's
a story of how we helped just I mean, one

(10:30):
of many examples, helped one couple do better with an
annuity that they had already in place. So folks, imagine
that being you. If you have a contract out there
that you purchased years ago, imagine having us say hey,
this is a good one. You don't need to change
it or imagine us saying, hey, you know, this is
a good one, but you can do better. And I

(10:51):
think at the end of the day, Steve, that's what
we find is people just want to know if they
can do better.

Speaker 3 (10:56):
Sure well, and that's what we're talking about here. And
you know, going down the annuity route was certainly one
way to check and see if you are doing better.
And they have changed so much and I know we're
gonna have to take a break here in a second,
but there are so many new bells and whistles with
annuities and I want to start breaking some of that
down because what they can do is incredible to help
your life.

Speaker 2 (11:16):
Oh yeah, the bells and whistles are really different. And
we talked just a little bit about that when we
kind of got into the beginning of the segment today
and and we're going to you know, do more of
that when we come back. Folks, I encourage you to
hang around because this is important. You know, whether you

(11:36):
have an existing annuity or whether you're considering, you know,
purchasing one, this information that we're talking about is very
valuable either way. You know, we want to help you
move in the right direction. We want to help you
avoid the wrong turns on the road retirement that can
lead to a dead end. And quite frankly, if you

(11:57):
keeping an older contract and older annuity that you purchased
is not in your best interest, that could lead you
to a dead end. Let's avoid that all together. Hey,
right now, for the next ten callers in the next
ten minutes, we're going to offer at no cost or obligation,
a written plan for retirement, built by our team of
certified financial professionals, individualized and customized just for you, no

(12:19):
cost or obligation. I want to be very clear. You
cannot just call in and say mail that to me
or email that to me. This is something that you
must get on our calendar to accomplish. You come in,
go through our process, and folks, we will build you
an individualized, customized retirement roadmap, a written plan for retirement
at no cost or obligation. Next ten callers in the

(12:41):
next ten minutes only sounds great.

Speaker 3 (12:44):
Trip eight hundred and ninety four zero six nine seven nine.
That is the number an opportunity to get that financial
roadmap put together, and Trip is there to take that
complex financial world and turn it into something that just
makes sense. It's an excellent chance for you to get
a true practical financial review. So if you're listening, give
us a call. We'd love to hear from you. Eight
hundred nine four zero six nine seven nine. You heard

(13:05):
Trip ten. Callers right now gets the comprehensive review that
he just talked about. You're going to see where you
are today. More importantly, though, you'll find that you now
have a roadmap that can help get you to where
you need to be. So, in short, you got nothing
to lose. Call right now. Eight hundred nine four zero
sixty nine seventy nine eight hundred nine four zero six
nine seven nine. A quick break for us. We're going

(13:26):
to come back and continue talking about annuities and so
much more right after this on the road to retirement
with Trip Limouse.

Speaker 2 (13:32):
Yes, oh yes, centrist rate are the highest they've been
in over a decade. And you know what, folks, as
we were talking about in the first segment, annudies now
are offering features that older annuities never even dreamed of.
Do you own an annuity? Would you like to know
for a fact that it's the best thing for you.
We'll stick around because we're talking about that coming up next.

Speaker 1 (14:00):
Many analogies and metaphors you could use to describe today's
current economic climate, economic climate and retiring in it.

Speaker 2 (14:07):
You could use the hurricane.

Speaker 1 (14:09):
We watch it coming, we know it's coming, but.

Speaker 2 (14:12):
Aren't we acting?

Speaker 1 (14:14):
We could go to the three little pigs and the
big bad wolf of the economy is on the loose.
I'll huff, I'll puff, and I'll blow your hell's 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

(14:36):
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 no, then
you need a good retirement specialist on your side. Cull
Trip Limehouse of Limehouse Financial eight hundred nine four oh
sixty nine seventy nine, eight hundred nine four oh sixty

(14:58):
nine seventy nine.

Speaker 3 (15:04):
Well, come in, everybody, this is the road the retirement
with Trip Limehouse. My name Steve said, all Tripp has
course been helping folks for more than twenty years. The
green line principle is one of the guiding well guiding pillars,
if you will, of Limehouse Financial. And we'll talk about
that right now, though we're talking about annuities, interest rates
and the confusion that there is about annuities. I know

(15:27):
that this is funny. I was with my nephew who
was retired. Okay, so he's not like a youngster, so
he's retired, and I mentioned I even just said the
word annuity, and the guy just bristled.

Speaker 2 (15:38):
He's like, oh, those are horrible horror.

Speaker 3 (15:40):
Not going to get into a discussion. But okay, but
that's the miss that's the misinformation, right, I mean, people,
that's that's the assumption is.

Speaker 2 (15:48):
And you know what assumptions do, right, Oh yes I do.
We won't we won't say what they do. But yeah,
I mean, I think regarding all everything that we ever
talk about on the show, nobody needs to assume anything.
That's a common question. Like people sit down with Jonathan,
my investment advisor, or they sit down with me here
at the office and they're like, you know, why is

(16:10):
there such a stigma with annuities? Why are they talk
about in such a bad way. And I say, well,
in general, there's two lines of thought, if you will.
There's people that are pro nuity and think they're good
and you should use them in planning. And there's people
that think they're the worst thing ever and you shouldn't
use them. And you know, I think that overall, it

(16:32):
comes down to the four letter word, the P, L,
A N. You know, you have to have a plan
that structure to meet your objectives. And when you're working
with us here at Limehouse Financial, that's what we're doing.
And we tell people all the time, you know, we're
going to make a recommendation for you, and it's your choice.
I mean, if you don't like it, if you don't
understand it, if you're not comfortable with it, then don't

(16:53):
do it, you know, I mean we that's our criteria
when we're building plans for people. They need to like
the plan, they need to understand the plan, and they
need to be comfortable with the plan. And the plan
always includes a safe money strategy. It's always going to
include an annuity. Everybody needs a safe money strategy in
their plan. It doesn't need to be it doesn't need

(17:14):
to be the whole plan definitely not, but part of it.
So you know, if someone says I don't want to
do that, we just say, fine, it doesn't that doesn't
matter to us. If you want to have all your
money at risk, then we'll do that for you, will oblige.
But guess what, our recommendation is never going to change
because we're functioning from that fiduciary capacity only making recommendations
in the best center. So for those for those people

(17:37):
out there that have the thought process or whatever, the
belief that annuities are the worst and they shouldn't do them,
that we don't try to change our mind. That's fine
if that's how they think or what they believe. What
I would share with folks is that's that's not the
that's not the truth because things have changed, you know,
with with annuities in the last two, three, five, ten years,

(17:59):
they have changed, and quite frankly, if you think about it,
there's good and bad things with anything you would purchase.
I mean, just as a silly analogy, think about a cheeseburger, right,
I mean, there's some restaurants that this is funny because
you know, I'm a foodie. I'm always thinking about food, right,
I'm not talking about pizza right now, but Amy love

(18:20):
of my lifelmehouse, Honey, I love you so much, or
the best ever. She always jokes around that I've never
met a pizza I didn't like, which is pretty much true.
So this is why I'll go with the cheeseburger analogy.
You know, there's some places out there and they just
have like stellar burgers. They're like, yeah, this is a
good burger. And then there's some it's still a cheeseburger.
There's some out there that they just suck. They're bad,

(18:42):
they're just not good. So I mean, you know, a
total like a loose analogy with the newdies. But there's
some out there that are just great. They're good, they're awesome,
and there's some out there that just suck. They are
and quite frankly, some people might own one that now
just sucks. Maybe it was good when they bought it,
but now it just sucks. And you know that sounds

(19:04):
so negative, but it's just so true because think about this,
there's new new bells and whistles. We wrapped up the
last segment kind of talking about this modern annuity Steve.
They've just come a long way. They really have it's
like fixed index and and uh and even to some
extent variable annuities. I'm not a really big fan, but

(19:28):
to some extent some of those have come a long way,
and they're including riders. So we're talking about features like
index linked growth. Okay, so someone really wants to be
able to benefit from the market doing well, but they
do not want any downside. Okay, sure, Uh, this, this

(19:52):
index linked growth is just a powerful planning tool, it
really is. And then things such as guaranteed lifetime withdrawal benefits.
I mean, for all the people out there that want
a pension but they don't have one, which is a

(20:13):
lot of people, this could be a fantastic way to
you know, create a personal pension plan. So a lot
of folks out there that we're seeing, they've got older
annuity contracts and you know, they now they're at the
point where they need income, but they don't want to
exchange all of their dollars for the income. But that's

(20:33):
called annuitization. Annuitization. So we're showing them away that they
can have, you know, index linked growth really benefit like
maybe when the S and P or the Dow is up,
or gold indecks or real Estate index or international index.
I mean there's so many, so many indexes when they're up,
and they're also showing, you know, folks, how they can

(20:55):
still have their money but start utilizing it to create
lifetime income. Of course, there's inflation and adjusted payouts. I
mean that's the new bells and whistles. And flexibility. I
mean there's more flexibility in accessing the money. You know,
if somebody's terminally ill, okay, twelve months or less to

(21:16):
live here, you can access one hundred percent of the money,
or they need care and a facility. So we had
we brought on a new client, Jane. Hey, Jane, I
know you're listening because she is a listener. She told
us she listens every week to us. So, hey, Jane,
and I won't mention your last name, butes, only you
and I know who I'm talking about. But you know,
for Jane, she came in and she said, long term

(21:38):
care is a really big deal for me. Trip I'm
concerned about planning for long term care, and I also
recognize that I need some guaranteed income. So you know,
what we did was and she she was a great planner.
She was a really great planner. She had purchased an
annuity in two thousand and two, and she had still
had it until she came in, and it had done
pretty good. It had accumulated. I had a nice value

(22:02):
to it, you know, there the stars in the moon
to ligne. Though there was no penalty for her to
do an exchange into a new contract. But what her
old annudy did not have was was a feature that
if she needed long term care, would help her, you know,
pay for some of the costs. So Jonathan O'Reilly, my
investment advisor, and I did an analysis and went through

(22:24):
all the things that we go through, and we said
to Jane, hey, look here's a new contract that you
can move into and guess what if you need care
in a nursing home, it's gonna double your income. So
the income this was a like one point two million
dollar contract okay that she she moved over to us,
and so that one point two million dollars if she
needed income, like just to start income regularly. You know,

(22:47):
it was pretty hefty. I mean it was up in
the sixty five seventy thousand dollars range okay, guaranteed forever,
which she loved. But we said, hey, look if you
need care. You know, in a year or two or three,
this insurance company's going to double the amount of income
that they're going to pay you. So we're going to
turn that sixty five grand into you know, one hundred
and thirty grand to offset cost of long term care.

(23:08):
That's an example of a bell and whistle that wasn't available,
you know, years ago. So for her, as I mentioned
in the last segment, you know, anybody we were working with,
as long as they like the plan, understand the plan,
and they're comfortable with the plan, then you know, we
can implement it for them. She all through it, She
checked all those boxes. She said, this is exactly what
I'm missing. I need the written plan for a retirement

(23:31):
that you talk about, you know, I need. I need
to upgrade the annuity that I've had for years. And
it just worked out well for her. So folks, that
could be you, you know. I mean, the thing is,
it just needs to be right, Okay, it just needs
to be right for you, and you can count on
us to guide you through that and to always make

(23:52):
that recommendation in your best interest. Another thing, Steve, as
I see that fees are really drying people to make
change fees are driving people to make changes sure.

Speaker 3 (24:04):
Because you can get I mean, I like this death
by a thousand fees. And that's the complaint with old annuities,
especially the variable I mean the variable can I mean,
those fees can really be outrageous.

Speaker 2 (24:15):
Well, if we want to isolate a particular you know,
type of annuity, definitely a variable annuity, as you just
mentioned death by a thousand fees. There's mortality, there's expense charges,
there's riders that can be very costly, and they even
something like an administration fee, and what happens is they
quietly eat away returns. Now. Variable annuities certainly have their place,

(24:39):
you know, they can really help people to accumulate, all right,
but in general we see the costs are just really high,
and you know, looking at something that's not variable for
most people that are closer to or who are already
in retirement, becomes more of a priority. You know, they

(25:00):
want to make sure that they have a floor where
they can't go backwards. And that's something that you know,
we talk about with people as hey, you've had this
money at risk, and a variable annuity you're paying you know,
maybe two or three percent in fees, the cash value
of vacillates up down. You know, you're you're at risk.
What if we do in exchange into an annuity that

(25:21):
has no risk associated with it and no fees associated
with it? You know, would that be worth considering? And
when we ask that question many times the answer is yes.
And we're helping people. So, folks, we're talking about the
annuity world. And if you are an annuity owner and
would like a review on what you currently owned, give

(25:42):
me a call right now at eight hundred nine four
zero six nine seven nine for us to give you
a review at no cost on your existing annuity. We
can help guide you with it. And if it's good,
we're going to tell you that keep it. And if
it's you can do better, we're going to tell you that.
All right. Next up is the A segment. We're going

(26:03):
to continue on talking more about retirement planning, how you
can do it better and be healthier. But right now,
for the next ten callers, in the next ten minutes,
I'm going to offer a written plan for retirement, individualized
and customized just for you, built by our TEAMO certified
financial professionals, at no cost or obligation for the next
ten callers. In the next ten minutes, you will receive

(26:24):
a written plan for retirement built by our TEAMO certified
financial professionals, no cost, no obligation. Next ten callers, sounds great, Trip,
do give us a call.

Speaker 3 (26:33):
Eight hundred nine four zero six nine seven nine. Opportunity
for you to come on in, sit down, get yourself
a financial plan put together. The goal here at the
show is to help you make the best decisions for you.
So if you've got questions about what we're talking about,
how it applies in your own situation, like with an annuity,
give Trip a call. You'd love to hear from you.
Eight hundred ninety four zero six nine seven nine. Eight
hundred ninety four zero six nine seven nine Quick break

(26:55):
back with more on the road of retirement with triplmeh
House after this.

Speaker 2 (26:58):
Fulfilling retirement is not just about having enough money. It's
about aligning your lifestyle, your income, having good health, and
creating a legacy and doing it all into one clear vision. Hey,
we're going to cover five questions that can help you
accomplish all of that. When we come right back. In life,

(27:26):
there are defining moments. You may kiss the bride, you
got a job, buddy. Retirement is one of those stand out,
exhilarating times, hard pay em seize the day, meet at
no cost with our local independent team who are here
to help coach you along this journey.

Speaker 3 (27:44):
Called Trip Limehouse with Limehouse Financial.

Speaker 2 (27:47):
Eight hundred nine four zero six nine seven nine. That's
eight hundred nine four zero six nine seven nine.

Speaker 3 (28:00):
We're back on the road to retirement. It's a nice
drive today despite the rain. Boy, the weather has cleared.
Got some sunshine on our drive today, Trip.

Speaker 2 (28:07):
What do you think it keeps popping in and out. Yeah,
it's been a little interesting lately, but I'm thankful for
the rain. You know. I was thinking about all the
rain lately and how it reminds me of like it's
like a renewing and refreshing. It washes away, cuts some
of the old, it maybe helps usher in the new.
And I was kind of drawing a parallel to, you know,

(28:29):
retirement with all of that, and how Jonathan O'Reilly my
investment advisor, and I help you guys out there in
radio LANDA you know, not that we're raining on anybody's parade,
but sometimes that refreshing and that new the end result
of the rain coming and going and then the sun
shining back out. That's what we're doing for people with

(28:50):
retirement is we're you know, moving the clouds out of
the way and the sun is shining and things are
bright and people are feeling good and doing good and
enjoying retirement. And that certainly is very rewarding for us
here at Limehouse Financial. We're very thankful to be able
to do that. We're having fun helping people, that's for sure. Hey,
I want to give a shout out to my longtime listeners.

(29:12):
You guys are awesome, Thank you very much for tuning in.
Yet once again, we appreciate you a whole lot and
are glad for you being with us. And you know,
we've been doing this, I don't know over five years now,
five and a half years, and it's just a lot
of fun and were we really enjoy getting to know
you and and helping you. Even those that don't come

(29:34):
in and see us, you know you when you call
and send or send us an email and tell us
you know how much you appreciate us for just helping.
That means so much to us. So hey, continue to
do that. Eight hundred nine four zero six nine seven
nine is our number eight hundred nine four zero six
nine seven nine. Visit us on the web at limehouse

(29:55):
financial dot com. And also, if you're new to the show,
well in the right place, hey, you uh, you know,
one day maybe exiting on that road to retirement, maybe
coming up soon and maybe far away. Regardless, you're in
the right place because this is what we do, is
income and distribution planning experts. As we help you get
there and stay there, and that's very important. So we're

(30:19):
glad to be with you. So this whole thing about
a fulfilling retirement, I think people get lost in just
the money thing.

Speaker 3 (30:27):
Oh. I think it's we're so focused on that and
and really there is so much more to it than that.
And I guess that's what we're going to take take
a look at here. Kiplinger's survey reframed the conversation with
five questions that connect purpose and planning, which is where
you come in for. You know, we've we can figure
out our purpose. You can help us with the plan.

(30:48):
So I guess we start with asking ourselves what what
do we want? What's our lifestyle? How do we want
to how do we want that?

Speaker 2 (30:55):
I think too, as as you know, you and I
are talking before the segment. I think that the answers
to these questions really make a difference between somebody coasting
uh through retirement uh or just truly enjoying it. And
you know, you know, we just we want you to
enjoy it, folks. I do think that there's just too

(31:18):
much of an emphasis on just the money, and here
at Limehouse Financial, we're focusing on the person. Of course
we're talking about the money, but we're focusing on the
person and and a in a holistic manner so that
we can really get to know people and then provide
them with that individualized, customized plan that's going to you know,

(31:39):
help them accomplish their goals. But the question about lifestyle,
you know, that was great. I like how you said that.
I mean, what a question for our listeners is what
kind of lifestyle is going to really fulfill you? I mean,
what what kind of lifestyle is truly going to fulfill you?
Ask yourself that right now. I'm just paused for a
second think about that. That's a tough question to answer.

(32:03):
What kind of lifestyle is going to fulfill you? I
don't know, it's just easy to focus on the money.
It really is. We got to have it. But but
the real question is, you know, folks, ask yourself this,
how do you want to spend your days? You know,
how do you want to spend your days? And I
don't you know. Maybe it's more time with your family.

(32:26):
Maybe it's uh, you know, really becoming immersed and involved
with your church. Maybe it's volunteering and traveling. It could
be you know, new hobbies that you've always wanted but
didn't have the time to do. At the end of
the day, you know, you having a clear vision, that's

(32:48):
that's what's going to guide your financial choices. That's my
observation with over two decades and helping people get to
and through retirement. I mean we're you know, in general,
we're working with people that have seven figure your portfolios.
We're helping them manage their money throughout retirement. That's a
lot of money. But even people that have you know,
a couple of money box in there, you know, retirement plans.

(33:13):
You know that we're helping them with that. Sometimes they
struggle with this too. So folks, this is a common
thing across the board. You have to have that clarity
about what's going to really fulfill you. I mean, even
having a big nest egg that that can still leave
you feeling empty. So just think about what's the lifestyle
picture that you're building towards. Go ahead and start formulating

(33:35):
that now. And then naturally we got moving into talking
about the money that's going to help with this whole
lifestyle thing. So you know, we come we come up
with the let's call it an income picture. So this
would I would like to ask folks out there this
question Steve about income. You know, is your income picture

(34:00):
solid and diversified? Do you have an income and a
distribution plan? Now, if you're like most people that we
see here at the office, the answers no, good news,
You're in the right place because as an income and
a distribution planning expert, this is what we do. We
build that for you. Now, some statistics here about seventy

(34:24):
eight percent of retirees are relying solely on social Security
as a major source of income, but nearly seventy percent
of workers worry about those benefits and how they could
be reduced in the future. And I mean that's just
one reason out of many reasons why it's critical to
really partner social security income with other things like creating

(34:47):
a personal pension plan or maybe utilizing the pension plan
that's being offered to you through your employer. By the way,
if you're out there and you have a cash balance
pension plan. We just brought on a new client last
week' step retired from Dominion and this particular gentleman had
a cash balance pension plan. Saw us on TV. By

(35:09):
the way, folks check us out on TV every weekend
the Roads Retirement TV show. We're on three times during
the weekend. Saw Us on TV. Made an employment came in.
We did an analysis for him, the pension analysis. Because
he was curious. He said, you know, I can take
this lump sum of one point six million dollars had
been with Dominion forever, like started when he was twenty okay,

(35:30):
forty years of working with the same company. You know,
you could take that money, that lump some money and
do something different with it, create a pension, or he
could take the pension they were offering. And we did
the pension analysis for that gentleman, and we said, look,
you can take the income they're going to give you,
but if you allow us to help you with this,
if you like it, are comfortable with it and understand

(35:51):
this plan that we're going to you know, we're showing
you today the income that you can get on your
own is going to be about eight and a half
percent higher than what they're offering you. That was a
no brainer. He became a client. So folks, you know,
if you have a cash balance pension plan and you're
wondering what to do with it, make sure you call
us eight hundred nine four zero six nine seven nine

(36:15):
limehouse financial dot com. But you know, partner the social
security pensions, investment income and a real income you might
have or even part time working, and then let's make
sure that you're not depending on a single source of
income to carry you for the next twenty or thirty years. Okay,
let's have a very solid, uh and guaranteed income and

(36:36):
distribution plan. So next question is I mean, I they
just kind of come into my mind. We've talked about lifestyle,
We've talked about income, you know the importance of it. Okay,
how about this uh fear that some people have of
running running out of money? You know, some people can't

(36:56):
like real.

Speaker 3 (36:57):
People are more well, I think people are more scared
of running out.

Speaker 2 (37:01):
Of money than dying, well they should be.

Speaker 3 (37:06):
Survey shows that.

Speaker 2 (37:07):
Yeah, but this is was a national study that we
looked at and according to this study, sixty four percent
of Americans said they fear outliving their savings more than
they fear death. So what are the drivers? The top
drivers of anxiety and retirement? Inflation, taxation, social security, uncertainty,
running out of money. So I think that proactive strategies

(37:31):
like you know, doing wroth conversions or having inflation adjusted
withdrawal plans, that that can help people shift the mindset
from fear uh to confidence. So folks, how are you
addressing this fear before it makes you, uh, you know,
make bad decisions? Okay? Where is your confidence? I mean

(37:53):
do you have confidence? Next question is do you have confidence?
And how how you know have do you have room
to build it? Speaking of as, another one shows that
eighty three percent of people who work with a financial
advisor feel more confident about their retirement readiness. Okay, I
mean if that isn't enough reason to call us and
get an appointment, I don't know what would be eight
hundred and nine four zero six ninety seventy nine fifty

(38:15):
three percent that don't have an advisor is the comparison,
So eighty three percent of people working with an advisor
feel better more confident. Fifty three percent don't you know?
And the last question before we wrap up here as
running out of time, is you know our health, legacy,
and long term care. All three of those things, your health,

(38:36):
your legacy, and long term care fully in the picture
you know, I mean health issues and the potential costs
of long term care. They can derail a retirement and
even if it's has been carefully planned. So I guess
the happiest retirees in my experience not only have strong finances,
but they have strong health, habits and social connections. Folks,

(38:56):
take care of yourself and let's plan for all that
we can plan for. Or you're in the right place
here at Limehouse Financial. This next offer is for the
next ten callers in the next ten minutes, is for
a written plan for retirement, individualized and customized just for you,
built by our team of certified financial professionals. This is

(39:17):
that no cost or obligation. Next ten callers in the
next ten minutes, And folks, you can't just call and
say send it to me, email it to me. You
must come in, go through our process to receive this
no cost for obligation written plan for retirement just for you.
Next ten callers to the next ten minutes you'll receive it.

Speaker 3 (39:35):
Sounds great, Trip, give us a call. Hey, you know
it's advice like that that shows you just how important
it is to meet with a financial coach, somebody like
Trip who understands the ins and outs and ups and
downs of the financial world. So we invite you to
take advantage of this opportunity. Make sure that you are
on the right path, and that path is based on
your risk preferences, your budget, and of course your goals.
Eight hundred ninety four zero six nine seven nine eight

(39:57):
hundred nine four zero six nine more segment to go
on today's road to retirement with Trip Limehouse. It happens
right after the.

Speaker 1 (40:08):
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 Limehouse

(40:29):
Limehouse Financial eight hundred nine four zero sixty nine seventy nine,
eight hundred nine, four oh sixty nine seventy nine.

Speaker 3 (40:44):
Welcome in, everybody, Welcome back. This is the Road to
retirement with Trip Limehouse, and we're winding down our trip today.
But it's been a fun one. We talked a lot
about annuities, we talked about what an ideal retirement is
and how to achieve that, and again, always good stuff. Trip,
always a pleasure, and to these journeys that we take
every week are often eventful and just playing fun.

Speaker 2 (41:05):
So you know, well we say every day we're having
fun helping people. And it's the truth that you know,
when you have an occupation like I have, and like
Jonathan O'Reilly, my investment advisor has, it's not a chore.
It's not something that you dread, you know. We look
so forward to getting in the office every day, to
meeting new people, to helping people, to doing events and

(41:29):
you know, sharing valuable information, educating people about all these topics.
You know, I just I really am thankful to God
for giving me the ability to do what I do.
And I'm also very thankful for all of my two
plus decades of experience helping people, learning about people and

(41:51):
then seeing them have positive results because that has enabled
and it enables me to do my job better today.
And I certainly don't take that for granted. So for
all my clients out there, I just want to give
you a shout out. You guys are great. We could
not do this without you. I really appreciate you, and
I'm very thankful for your business. And you know, folks

(42:12):
up you you might not have even ever thought about
talking to an expert about this stuff. Now could be
your time. I meant better now than then later. The
sooner the better for planning. You know, we are experts
and social security and income planning. We professionally manage money.
We build plans to get you to and through retirement,

(42:33):
and we're having fun doing it. Eight hundred nine four
zero six nine seven nine as our number limehouse financial
dot com. One more quick shout out to my lovely wife, Amy.
I love you so much and really excited about doing
some camping coming up here. Whether hopefully be cooling down
and Amy and I are going to be hitting the

(42:54):
road in our new Road to Retirement camper and we're
going to be having fun. We're gonna we're gonna hit
the road. Steve, I don't know if I've shared this
uh on the line with people or over over the waves.

Speaker 3 (43:06):
No, you have not.

Speaker 2 (43:07):
We are purchasing a camper and uh, just just a
little you know, travel trailer, you know, and and it's
the Road to Retirement camper and and and it's going
to be, uh if you will, wrapped with the Road
to Retirement all around it. We are going to travel
around and we are going to interview people who are
retired or who are going to retire, and we're going

(43:29):
to be bringing that to the show, telling our audience
what other people all around the country are thinking and
doing regarding retirement. And we're really excited about that. Uh.
My favorite part of that is, of course, just gonna
be with Amy. What trip. My favorite part of that
is just going to be with Amy and holding hands
with her driving down the road. But I said, Honey,

(43:49):
you know you're gonna have to learn how to do
some of this stuff with this camper, right, you know,
maybe like hooking up this hose or disconnecting this or whatever.
And she said, yeah, I know, but I know you'll
be there for me. And I said, you're always here
for me too, So but yeah, the Road to Retirement
show is actually going to be hitting the road coming
up soon, and we are very excited about that. So,
I mean, how appropriate right the Road to Retirement show.

(44:12):
It's very cool going on the road interviewing people, and
we're gonna again we're going to bring that to this
show here eight hundred and nine four zero six nine
seventy nine. Let's get into our questions here.

Speaker 3 (44:24):
You got it all right up. First, Peter is in
Casey and Peter says, I've got a mix of investments
in taxable accounts, a roth ira, a traditional ira, but
he's unsure which accounts should he should pull from first
to minimize taxes. It's a good question. So the question
is how should someone decide the most tax efficient order
for drawing down different types of accounts and retirement. We

(44:46):
hear this all the time, and this must be a
question you get all the time.

Speaker 2 (44:49):
It's one of the top questions. Really, Peter, thanks for
calling in and asking it because I can share this
with you. You're not the only one, you know. Having
different types of money, if you will, is somewhat challenging,
and then knowing which type of money to use and
when to use it and how much to use is
somewhat challenging. You know, you've got your taxable account, so

(45:12):
that means money has already been taxed. An example of
this would be like a brokerage account. And then you
have a raw IRA as you mentioned to is Peter,
and and of course that's a tax free money. The
money has gone in that's gone in has already been taxed,
and then the money that comes out will be not
taxed and it grows tax free. That's wonderful. And then Peter,
you also mentioned to us that you have a traditional IRA,

(45:36):
and of course that's a tax deferred vehicle where you
have over time received deductions along the way for putting
money in it, but when you take money out, it
will be taxable. So you know, it's very common for
someone just like you to wonder, you know, where do
I take the money from first, and when do I
take it? And how much do I take and how

(45:58):
long will it last? So, Peter, what I want to
talk to you about now is an income and a
distribution plan, Okay, because what you're wondering is is so
common and it's so important for the long term success
of your retirement to do this thing right now. So
I'm just assuming that you do not have an income

(46:21):
and a distribution plan, because as an income and a
distribution planning expert, what I do when I put these
together for people is we take a look at the
types of money that they have, such as what you have,
and we specifically map out when to withdraw money and
where to withdraw money from and how much to withdraw,
and then we demonstrate how long it's going to last,

(46:43):
so where to take it from, when to take it,
you know, how long it's going to last, and how
much to take that. That's the kind of the you know,
the income and distribution plan in a in a nutshell.
So this is something that you need and that I
want to provide for you. So I want you to
come in and let's go through this with you. And

(47:05):
but for right now, I just want to tell you
that in general, we're going to withdraw from the tax
deferred vehicles first, okay, and especially now because we're in
a kind of a favorable tax environment. And then from
there we're going to move into the taxable accounts that
have already been taxed, and then from there we're going

(47:25):
to at a very last, so to speak, moving to
the roths and for most of our clients. I mean,
you know, we're working in general with people that have
seven figures or more saved. For most of our clients,
utilizing the tax free at the later part of retirement
makes the most sense. So that would be the WROTH.
So depending on what you have, Peter, that could be you.
But overall, at the end of the day, we just

(47:48):
need to provide you with that written plan for retirement
that we talk about over and over on the show,
and then you know, assure you that by following the
written plan going to achieve success and therefore be independent
and in control during retirement. Thanks for calling in with
that great question, and we should certainly look forward to
seeing you here at the.

Speaker 3 (48:08):
Office indeed again eight hundred and ninety four zero six
nine seven nine, Peter, give us a call. Samantha's checking
in from Columbia. She says most of her retirement income
comes from a pension and Social Security, but she says
those payments don't rise much with inflation. What's the best
way to add inflation protection to a retirement income plan

(48:29):
when most of your current sources are fixed.

Speaker 2 (48:31):
I like the question. Yeah, that's a great one, you know.
And by the way, you're you are like most folks
out there, with the bulk of your retirement income, as
you just mentioned, coming from a pension and social security.
Actually you're fortunate because a lot of people don't have pinches,
but you know they're becoming less common. And speaking of that, folks,
if you're out there and you do not have a

(48:53):
pension and you would like to have a pension, make
sure you ask us about the personal pension plan. We
can help you create a personal pension plan so you
never outlive your money. Eight hundred nine four zero six
nine seventy nine. But the best way to add in
inflation protection to your retirement income plan is really by

(49:16):
mapping out number one, what does it take you to live? Okay,
what is your retirement income goal? So I'm talking about
things like maybe a mortgage payment, taxes, insurance, maybe a
car payment, cell phone, groceries. You're just your retirement living expenses. Okay,
So we got to look at that, figure out what
that number is really hone in on that, and then

(49:38):
let's look at your retirement lifestyle goals, like what do
you want to do during this nice time in your life? Okay?
Is it travel? Is it give? Is it purchase things
that you've always wanted to have, I mean, whatever it
may be. And we need to put those two numbers together.
And of course we have to include healthcare in there.
That's a big thing to never omit including healthcare in

(50:00):
a plan. So we need to look at all those
and we need to forecast it over the next I
don't know, let's just say, you know, twenty twenty five
years or so, and we need to do that in
the form of a plan. So we need to take
a look at what you currently have and make sure that,
adjusted for inflation, that you're going to be okay. So
I'm assuming that you have some savings that you're utilizing

(50:24):
in addition to you know, the pension and social security.
If you have no other savings outside of a pension
and social security, there's really not too much that you
can do to deal with rising inflation. So I'm just
hoping that you have something saved that we can utilize
from this point forward. If not, you're going to have

(50:45):
to start looking at maybe you know, trimming the fat
so to speak, if there is any you know, living
on a budget that's less than what you may be
living on now, or even sometimes you know, going back
to work part time just for a little bit of
extra income on an ongoing basis. So, but what we
want to do is learn more about you, and thank

(51:06):
you for calling in. We want to help you. So
i'd encourage you to come on in, sit down with us,
and let's just see what we can do to help you, folks.
That's what we do. We're having fun helping people. The
Road Retirement Show and Limehouse Financial is all about that.
We want to get to know you. We want to
learn where you are. We want to show you how

(51:29):
to get to where you want to go and stay
there and be independent and in control. And if you
were already there, we want to give you that second
opinion to make sure that what you're doing is right
and if you can do better, we want you to
know that as well. Thanks for tuning in today to
the Road You Retirement Show. We really appreciate you. Hey,
this is the last offer of the day and it's
for the next ten callers in the next ten minutes,

(51:51):
and it's for a written plan for retirement built by
our teamo certified financial professionals at no cost or obligation
to you. Now you must come in, go through our
process to receive this, we will not email it or
mail it to you. Come on in see us. If
you're one of the next ten callers in the next
ten minutes, you're going to receive that written plan for
retirement individualize the customize just for you, at no cost

(52:14):
for obligation. So, once again, thanks for tuning in to
the Road to Retirement Show today. We really appreciate you.
Tune in next week for another great episode. We're really
looking forward to being back with you again. And until then,
God bless you.

Speaker 4 (52:36):
If you remember these TV shows, you're getting ready to retire.

Speaker 3 (52:40):
And everybody see a big pair of feet there, cheesy mustache,
I'll think.

Speaker 2 (52:44):
Of you, you guts Well, I'm.

Speaker 4 (52:49):
One guy who ain't prejudiced against anybody who may beship
pity than me. It kind of sneaks up on you,
doesn't it.

Speaker 2 (52:57):
Oh geez.

Speaker 4 (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've worked hard for your money
and will work just as hard to protect it and
grow it. Retirement planning doesn't have to be difficult. Get

(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.