Road to Retirement 08-23-2025

Episode Transcript

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

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

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

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

Speaker 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):
Bas well, buckle up. We're getting ready to take a
retirement road trip to gather it's the road to retirement.
With trip Limehouse.

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

Speaker 1 (01:07):
Is key, is key, You get on the road to
financial security and independence, just like many of Trip's happy
clients and retirement.

Speaker 2 (01:15):
Partner, my money is safe using the green line principle
that you taught me about.

Speaker 1 (01:20):
Thank you so much. Let's get this trip started. It's
the road to retirement with Trip Limehouse.

Speaker 3 (01:30):
Welcome in, everybody, This is the road to retirement. We
got the car geared up, ready to go. Trip Limehouses
here guiding us along as he is each and every week.
In fact, he's been doing just that for folks for
more than twenty years, getting him to and through retirement.
You make a nice you make a nice trip. Trip.

Speaker 4 (01:47):
How are you.

Speaker 2 (01:48):
I'm doing good. How you do it?

Speaker 3 (01:50):
I'm good? Thanks good? You know, enjoying the summer having
fun yep.

Speaker 2 (01:54):
I noticed you didn't say we got the windows down cruising. Well,
we do definitely got the windows up with their.

Speaker 3 (02:01):
Yeah, you're right, because it's hot.

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

(02:26):
I don't even know that that's a thing. I definitely
am the captain, but you know, she tells me where
to go and anyway, But we've been getting in the water. Man,
it's been a little cooler than normal lately.

Speaker 3 (02:35):
Oh.

Speaker 2 (02:36):
I like that. Usually that water, I mean it'll start happening,
it'll be like bathwater and and you got to go
out in the big water and get some cool water.
But anyway, speaking of water and refreshing, I think that's
what we got going on today for our listeners. I mean,
you know, this, this whole thing about retirement, it really
doesn't happen by accident, does it.

Speaker 3 (02:58):
No, it sure doesn't. But I mean again, that's a
big question, and I'm sure you get it all the time.
So what happens now? What's next? Help me?

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

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

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

Speaker 3 (04:11):
So the greatest, the great statement, the greatest asset you
gain in retirement isn't money. It's time. Because you know,
we've spent our life exchanging time for money, and now
that time is our own.

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

(04:42):
to do but couldn't because you did not have time.
And I want to just tie this into having a
very clear vision for what I would call your retirement lifestyle. Folks,
you got to start thinking along those lines. I've just
observed through the years that a lot of people, you know,
they focus on saving, investing and kind of getting to retirement,

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

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

Speaker 3 (05:50):
Well and again, but we have to we have to
have that vision before we can get there.

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

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

(06:38):
He plays basketball at the y m c A with
the senior league like three times a week and he's
like really really good.

Speaker 1 (06:46):
Yeah.

Speaker 2 (06:46):
You know. For others, that could be volunteering, and then
you know there's family. I mean, think about the time
aspect of just hanging out with the people that you
love and that love you. So I guess the key
is to trans dreams into into a practical budget, if
you will.

Speaker 4 (07:04):
So.

Speaker 2 (07:04):
An interesting survey by ARP in twenty twenty four found
that sixty nine percent of retirees who reported high satisfaction
had specific lifestyle goals and a plan to fund them. So, folks,
how specific is your vision and does your financial plan

(07:26):
support it? Visit us on the web at limehouse financial
dot com eight hundred nine four zero six nine seventy
nine limehouse financial dot Com. We're having fun helping people,
you know. We were talking in a segment about creating
successful retirements and how it doesn't happen by accident, and

(07:49):
we touched briefly on having a clear vision for a
retirement lifestyle. Coming up next, we're going to talk about,
you know, an income and a distribution strategy and how
that works and the importance of you thinking proactively about
taxation during retirement, So make sure you stay tuned for that, folks.
Visit us on the web at limehousefinancial dot com eight

(08:11):
hundred nine four zero six nine seventy nine. I'm going
to get give an offer right now for the next
ten callers in the next ten minutes. It's going to
be for a no cost or obligation, a written plan
for retirement built for you by our team of certified
financial professionals. And this is going to be offered at
no cost or obligation. Folks, you cannot just call in

(08:35):
and say mail that to me or email that to me.
You must come in and go through our process to
receive this no cost or obligation individualized and customized written
plan for retirement. It's for the next ten callers in
the next ten minutes.

Speaker 3 (08:50):
Sounds great, Trip, Folks, do give us a call. We'd
love to hear from you, an opportunity to sit down
and get a financial roadmap put together. Trip and his team,
including Jonathan the investment advisor, are therefore to take that
complex financial world turn it into something that just makes sense.
This is an excellent chance for you to get a
true practical financial review. So if you're listening, then give

(09:10):
us a call. Eight hundred nine four zero six nine
seven nine. You heard Trip ten callers. Right now, we'll
get that comprehensive financial review. You'll see where you are today,
of course, but more importantly, it becomes that roadmap that
we talk about all the time, and you're going to
find that you have got a path that can help
get you to where you need to be. Call right

(09:31):
away eight hundred nine four zero six nine seven nine
eight hundred nine four zero, sixty nine seventy nine quick
break for us. We're coming right back. Lots more on
the Road You Retirement with Trip Limehouse.

Speaker 2 (09:41):
Successful retirement, as we've talked about in the first segment. Again,
it doesn't happen by accident, folks. Let's get a very
clear direction for your road to retirement mapped out. We're
talking about that and a whole lot more coming up
next on the Road Your Retirement Show with Limehouse Financial.

Speaker 1 (10:04):
There are many analogies and metaphors you could use to
describe today's current economic climate, economic climate and retiring in it.
You could use the 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 loose. I'll huff, I'll puff,

(10:26):
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 case scenarios? Are
strategies in place to build in growth, protection and income
and help alleviate that fear of running out of money

(10:47):
in retirement. If your answers are no, then you need
a good retirement specialist on your side called trip Limehouse
of Limehouse Financial eight hundred and ninety four oh sixty
nine seventy eight hundred and nine four oh sixty nine
seventy nine.

Speaker 5 (11:04):
So, mister Johnson, I understand you have questions about the
report we provided you.

Speaker 2 (11:09):
Well, I do lots.

Speaker 1 (11:10):
Actually I don't understand.

Speaker 5 (11:12):
Lsu love that it's leather bound.

Speaker 1 (11:15):
Really after information about me? I'm concerned that I'm not.

Speaker 5 (11:19):
You think that the gold tassels were a nice touch.

Speaker 1 (11:22):
How about the calligraphy, Well, it doesn't really say anything
about my retirement specifically.

Speaker 5 (11:26):
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, happy.

Speaker 1 (11:37):
Well I wish I was. I don't need all this
Roman numerals.

Speaker 5 (11:41):
I mean, what is MXXV, mister Johnson, that's page oneenty
twenty five.

Speaker 6 (11:50):
Do you want to retirement report that just looks nice?
Or do you want to st an axial plan built
specifically for you? Trimp Limehouse and the team at Limehouse
financial focus on strategies, chalenting your best interest, strategies designed
to great their retirement you've always envisioned. Schedule your consultation
now by calling eight hundred nine four oh sixty nine

(12:10):
seventy nine, eight hundred and nine for oh six nine
seven nine.

Speaker 2 (12:15):
It's your go go years. So let's get going with
another retirement road trip.

Speaker 1 (12:19):
Ah. Yes, let's head to the beach. Let's go to
the Crystal Coast in North Carolina, an eighty five mile
stretch of coastline with coastal resorts and sound side and
intracoastal waterway ports. A started Moorhead City, more Head, once
the home to the Baldest Beautiful convention, great restaurants and
shops and schedule you're fishing or a scuba diving trail.

(12:41):
Who knows what you'll see because the coast of North
Carolina is known as the Graveyard of the Atlantic. Across
the bridge from Oarhead City to Atlantic Beach and one
of the first things you'll see is Four Corners Diner.
It's a must for breakfast. Hit the Circle, a big
public beach access area with restaurant, shops and a great
dive bar. The tackle Box tavern. You have to visit

(13:03):
one of the coolest little towns in America. That's beauvert
History meets waterside dining. Walk along the waterway, stop for
a meal, check out the luxurious yachts dock there, shop
in a quait historic town, and for real history. You
can visit the old burial ground weather tombstones dating back
to the early seventeen hundreds. You'll find the grave of

(13:23):
the child who died at sea and was buried in
a keg of rum. Visitors still leave toys of the
child's grave. There's even a cemetery tour app you can download.
What move on? No, I know, I'm not the only
one who likes to visit old cemeteries. Okay, well, then
let's head to Fort Macon State Park on Bogue Banks

(13:43):
near Atlantic Beach. You can tour the fully restored fort
site of the eighteen sixty two Battle of Fort Macon.
It's made up of two million, three hundred and seventy nine,
five hundred forty six bricks, more than any other US fort.
What now, Oh, enough history? Ready to go back to
the beach again. Well, let's head to Emerald Isle, western

(14:04):
end of the Bogue Banks spend the day on the
beach and catch some great music at night at your
favorite food joint. Or come in September for the Emerald
Isle Beach Music Festival. And when you're at the Crystal Coast,
you can take a boat or ferry to Kate Lookout,
climb the lighthouse, and visit the aquarium at Pine No Shores. That,
believe it or not, is just a taste of things
to do when you visit the Crystal Coast of North Carolina. Yes,

(14:27):
vacationing again, and when you get the right retirement plan,
you're really on your own eternal vacation.

Speaker 3 (14:45):
We are back cruising the road to retirement with Trip
Limehouse again. Nice drive on the way. We always have
a good time with Trip. I like the first segment.
We really got into some I just think some meat
and potatoes kind of discussion about you know the importance
of incoming retirement and you know how that relates to
your lifestyle. But it's a you know, it's a it's

(15:05):
a process obviously, and how do you build that income
distribution strategy that we talked about Trip, How do we
do that?

Speaker 2 (15:12):
Well? I think, first and foremost, we just have to
put it on the table for people. It's quite astounding,
even after you know, years and years of doing this
at our events. Uh you know, I'll kind of pull
pull the audience, if you will, and I'll say, hey,
you know, do you have this or do you have this?
And one of the things I'll ask about is, you know,

(15:33):
how many of you in attendance, uh, you know this
evening have an income and a distribution plan? And no
hands go up? I mean it's good hands up. It
is just very very very rare for someone to raise
their hand and and I have to define it for
him before I ask. I tell folks, you know what

(15:53):
is an income and a distribution plan? Well, it's a
it's a plan provided to you by an expert like
myself or like my investment advisor, Jonathan O'Reilly. And it
clearly identifies where you should withdraw money from, when you
should withdraw money, how much you should withdraw, and how
long it's going to last. Okay, so where, when, how much,

(16:16):
and how long it's going to last. It's just very key,
key things for people to have success during retirement. But
so again, I mean, it is astounding to me that
people don't have these things. And in particular, there's a
vast majority of people that are listening to us right now, Steve,
that are working with a broker or a planner, or

(16:37):
an advisor or an agent, and they still don't have
an income and a distribution plan. Folks, how are you
going to get to where you want to go and
be successful without what I'm talking about. I mean, it's
not just about you accumulating wealth, it's about distributing it efficiently. Now,
between Social Security and if you're fortunate enough to have

(16:58):
a pension and then investment portfolios, you just need a
plan that balances reliability with flexibility. Okay, So a key
thing here too is that the timing of Social Security
loan can mean a difference of up to seventy seven
percent in lifetime benefits. And that's according to Social Security directly.

Speaker 6 (17:20):
So you know, a.

Speaker 2 (17:21):
Question to ask is you know, should you delay? I
don't know. If you're married, what what about survivor benefits
or spousal strategies? And then once you account for guaranteed income,
you know, how do you draw from taxable, tax deferred
and tax free accounts in such a way that it

(17:43):
reduces risk and maximizes longevity. I mean, longevity risk is
the number one risk you face during retirement. Folks. You
don't want to outlive your money. So I'm talking right
now about an income and a distribution plan, and a
huge part of that could be what we call the
triple P, the personal pension plan. There's a lot of

(18:04):
folks out there that are suffering from a from a
common condition. Steve. You know, you know what the common
condition is.

Speaker 3 (18:11):
What's that the lack of plan?

Speaker 2 (18:14):
No PE. They're suffering from p E pension envy, pension
env and no one should ever suffer from PE. We've
got a solution for that, and it's called.

Speaker 3 (18:31):
You're funny.

Speaker 2 (18:33):
Little humor there, it's called it's called the triple P,
the personal pension Plan. I mean, folks, you know, maybe
you have a pension and you'd like to have an
additional pension. Okay, well we can help you with that.
Or maybe you know you've heard your friend or family
member how talk about how they love their pension because
it's reliable and consistent and stable, all those things, and

(18:54):
you'd like to have one, and you have just thought
that there's no way you could ever have one. Well
you're wrong. We can show you how to create a
personal pension plan. Just ask us about it, okay. As
a matter of fact, the green line principle is a
fantastic way for you to preserve and protect your money
and never outlive your money. I'm so thankful that I

(19:17):
trademarked that years ago with the USPTO and we talked
about it, because, folks, the green line principle is a
safe money strategy where zero is your hero. You cannot
go backwards, and you have a lot of upside potential,
and you also can create guaranteed income for life. So
we're talking now about you having an income and a
distribution plan, you creating income that you can never outlive,

(19:41):
and really having a smart income and distribution strategy eight
hundred and nine four zero six nine seven nine Limehouse
Financial dot com. So this is pretty great conversation today.
You know, we're just talking about how things don't happen
by accident. I think that what I've observed even the
last two decades is that those that have a great

(20:04):
retirement don't just like do it by accident. They're very intentional,
you know, they're they do the right things. They meet
with an expert like myself, like Jonathan O'Reilly my investment advisor,
and and they plan carefully. Are you thinking this is
a question for you guys out there listening. Are you

(20:26):
thinking proactively about taxes in retirement? The three letter word tax?
We got to talk about that at.

Speaker 1 (20:32):
A big one.

Speaker 3 (20:33):
No, we got to talk about that.

Speaker 2 (20:35):
Well, I think so we You and I read a
lot of studies and we bring them up to people.
You know, there's just so much out there that indicates
that most retirees are underestimating, underestimating the tax bite that
comes from something like a requirementum distribution, or from capital
gains or Medicare premium search charges now ed slot who,

(20:59):
interestingly enough, is a part of the Baby Boom or
Dilemma movie. I was just mentioning. He's a nationally recognized
IRA expert, and he puts it like this, It's not
what you make, it's what you keep after taxes that
matters the most. So you know wroth conversions, qualified charitable distributions,

(21:23):
tax free loans from life insurance, and you know those
personal pension plans that I was mentioning to you earlier.
They can all play a role in a well rounded
tax strategy for you. Okay, So on the subject of taxation.

(21:43):
You know, all these events that we do, Steve, we're
in front of hundreds and hundreds and hundreds of people
and we're just we're helping. We're helping all of them.
I do another question, like a survey question to my
audience the attend these events. Hey, do you think income
taxes are going to stay the same as they are currently?
Raise your hand, No hands go up? Okay, Hey do
you think that income taxes are going to go down?

(22:06):
Raise your hand? No hands go down or no hands
go up? Do you think that income taxes are going
to increase as you get older? Every hand goes up? So, folks,
I mean, it's kind of like without question that we're
going to be bracing for a higher income taxes as
we age. We are in a favorable tax environment currently,

(22:27):
and uh, you know, I guess we would say, fortunately,
with the one big beautiful Bill Act that just passed,
you know, we we should see some reasonable income tax rates,
you know, for the meantime, but overall, with our deficits,
our national debt, Social Security Trust Fund, you know, being
very rapidly depleted, we're in it for taxes, which means

(22:49):
you're going to be paid more than you ever thought
possible during your retirement years. So ask us about the
tax efficient retirement plan. All right, So this next offer
is or the next ten callers in the next ten minutes, folks,
it's for a no cost or obligation written plan for retirement,
built by our team of certified financial professionals, individualizing customers,

(23:12):
just for you. Now you cannot just call and say
send this to me, mail this to me. You must
come in go through our process to receive this at
no cost or obligation. Again, I'm offering the next ten
callers in the next ten minutes a no cost or
obligation written plan for retirement, individualized customers just for you.
Call in right now and it's yours.

Speaker 3 (23:33):
Sounds like a plan, Trip, give us a call advice
like that, showing you just how important it is to
meet with a financial coach like Trip, somebody who understands
the ins and outs of the financial world. We invite
you to take advantage of this opportunity today. Make sure
that you're on the right path. Get that second opinion,
find out if your path is based on well your
path is based on your risk preferences, your budget, and

(23:54):
of course your goals. Eight hundred ninety four zero six
nine seven nine. That's eight hundred ninety four zero sixty
nine nine. A quick break for us. We're going to
come back with a whole lot more on the Road
to retirement with Trip Limehouse.

Speaker 2 (24:05):
On this next segment, we're going to highlight some smart,
practical ways to simplify your retirement planning. We want to
help you stay ahead of the curve because the road
to retirement doesn't have to be full of potholes.

Speaker 7 (24:24):
In life, there are defining moments.

Speaker 4 (24:26):
You may kiss the bride, you got a job, buddy.

Speaker 7 (24:29):
Retirement is one of those stand out, exhilarating times.

Speaker 2 (24:33):
Hard pay em seize.

Speaker 7 (24:36):
The day, meet at no cost with our local independent
team who are here to help coach you along this journey.

Speaker 4 (24:42):
Called Trip Limehouse with Limehouse Financial. Eight hundred nine four
zero six nine seven nine. That's eight hundred nine four
zero six nine seven nine.

Speaker 1 (24:54):
Funny money or not so funny money.

Speaker 2 (25:00):
This time we're talking about funny money.

Speaker 1 (25:03):
This is really smart money. But this guy's laughing all
the way to the bank and his early retirement, so
let's call it funny money. He worked very hard, though,
to retire at the ripe old age of twenty four.
Mike Roseheart is actually three years into his retirement now
at the age of twenty seven. He's living a life
of leisure in Canada with his twenty eight year old wife, Elise,

(25:24):
and their two children. Now, how did he do this? Well, First,
they lived very lean. He even and I'm sure politely
asked his wife to lay off the Starbucks. Throughout college,
Mike worked full time and lived the lean life and
saved and saved and saved. At nineteen, he bought a
one hundred and fifty two thousand dollars cottage with money

(25:45):
he'd saved and his student line of credit. He and
Elise rented every room and made money off the profit.
They both graduated debt free and with money in the bank.
He landed a job at forty two thousand a year
after college. His wife was earning twenty six five per year.
With money saved and living on just one salary and
saving more, Mike started purchasing rental properties. He ended up

(26:08):
selling his eleven properties and he knew he had hit
his fire. Financially independent retire early number of twenty five
times his yearly living expenses. He said he knew he
needed four hundred and eighty five thousand to retire, and
he had an equity in his property just under seven
hundred and sixty thousand. To their credit, Mike and Elise
are very smart with their money. They even made money

(26:29):
on their wedding. They made money on their wedding by
finding a venue that didn't charge them as long as
they invited enough guests. Well, Mike jokes that with cash gifts,
he actually made a profit on his wedding. Even though
Mike and his wife started and finished very early. They
add new meaning to it's never too late to get
started and preparing for your retirement. For for funny money,

(26:55):
I'm Dave Perkins. Bad money habits habit. If bad money
habits can strain your financial progress, it's time to alter
your behavior.

Speaker 2 (27:08):
Here's another bad money habit to break.

Speaker 1 (27:11):
Spending more than you make. It's a good way to
end up with.

Speaker 7 (27:15):
Too much month at the end of the money, and
it leaves.

Speaker 1 (27:20):
No opportunity to save. Worse yet, living beyond your means
is a path towards significant debt. It's tempting to be
a big shot at the restaurant, you know, like I
got this Your money's no good here, Yeah, but it's
good where it's staying in their wallet. And if your
thing is to buy a lot of stuff, wealth is
seldom made by buying possessions. Remember today's flashy material items

(27:43):
become the garage sale junk of the future. And if
you've ever held your own yard or garage sale, you
know you don't get anywhere even in the same galaxy
of what you paid for things. Keep the economy going,
of course, and spend but not beyond your means.

Speaker 3 (28:06):
We're back on the road to retirement with Trip Line House.
My name is Steve sod All, having a fun show
as we always do with Trip Trip guiding us along
the journey on the on the way to retirement. And
again we avoid the potholes trip, we avoid the detours.
What we want is smooth Salem. That's what you can
help create in our retirement.

Speaker 2 (28:26):
Yes, that's our primary focus here is to help people
avoid the wrong turns on the road to retirement that
can lead to dead ends. I mean, you know, I
love the we was carefully thought out many years ago.
Uh And actually I want to give some kudos to
my friend Andy Andy Pek. He actually helped me come

(28:47):
up with a name for the show, the Road to
Retirement Show, And we were braining Swimmer one day before
we got on the air, and I said, you know,
I'm thinking about this and thinking about this and anyway,
he helped help formulate that. But the Road retirement, it
can be really however you want it to be, but
it has to be by design intentional. People can relate

(29:09):
to a wrong turn, a dead end. People can relate
to a rough road. People can relate to running out
of gas. And some of those things are more unpleasant,
if you will, than others. You know, it's just the truth.
But at the end of the day, proper planning, you know,
and in particular by utilizing the services of an expert

(29:32):
like myself and my investment advisor, Jonathan O'Riley private, excuse me,
proper planning can can really lead you to a great retirement,
you know, where you're staying ahead of the curve and
avoiding potholes. So so, I don't know. I I often
ask myself, why is it really difficult for people to

(29:57):
shift from saving to spending in a retirement.

Speaker 3 (30:03):
Well, it makes sense. We spend our whole life saving
thinking we've got to save for retirement. We gotta save.
We gotta save, so when we get there, I understand
it might be a little different to a little difficult
to say I can spend that money now.

Speaker 2 (30:17):
And then there's this word that goes along with the decumulation,
right sure, exactly. I mean people really never put too
much thought into that word. I love being an income
and a distribution planning expert because we're different than others
out there. Okay, I know this for a fact because
when we do these events that we do, these social

(30:37):
security and income planning workshops and other events as well,
you know, we're asking the people who are attending, do
you have these things that we're talking about? A social
security roadmap and income and a distribution plan, a safe
money strategy, a tax efficient retirement plan or requirementium distribution roadmap.
The list goes on and on and on, and nobody

(30:59):
is has these things. I know that there. I know
that we have a lot of job security because we're
doing things different than others out there, and we're helping
people do better in retirement. And it is it is
a big transition going from accumulation to decumulation. But folks,
it should not be scary for you as long as
you have the four letter word, the peel a N

(31:21):
the plan. A reality is that most people spend maybe
twenty five, thirty thirty five years, you know, just growing
their money, building wealth, maximizing their contributions and hopefully watching
their balances grow. That's a long time to be doing
something right. And then in a long time and then

(31:41):
they arrive at this point where now they're going to
do the opposite of what they have been doing. They're
going to start spending right. Yeah, So I guess what
happens is retirement flips the script Suddenly it's not about
how much you earn, but it's about how wisely that
you drawed down. And there's some mindset shifts that really

(32:05):
can help retirees become confidence spenders and show them how
to have a sustainable income, you know, for the duration
of retirement.

Speaker 3 (32:17):
But that's what you do. That's one of the beauties
of setting up sitting down with you and putting that
plan together is you have those benchmarks along the way.

Speaker 2 (32:25):
Well, I appreciate that compliment, Thank you very much. We
are having fun helping people, and I mean, this is
what we choose to do, and we're really really good
at it. I mean, I'm just thinking of it was
probably six seven weeks ago. We brought on a couple
as a client and like, they just told us that
their whole experience here was comfortable and that they came

(32:48):
in here not thinking they were going to be able
to retire. They're both mid fifties, which is a younger
probably younger than most people would retire. And weuilt them up,
We went through our process, built them a plan all
of the things that we do here, and we said, hey,
you can retire, and like, I mean, they teared up
and they were just so ecstatic, and they said, this

(33:10):
is great. This is the opposite of what we were expecting.
They just didn't think they had enough. Folks. Imagine you
coming in here to see us and us telling you, yeah,
you can do this. You can avoid the potholes and retirement.
You can't avoid the wrong turns, and here's how and
demonstrating it to you. It was great too, because when
we built that plan for that couple and we showed

(33:31):
them that they could retire, I mean, they just had
one question for us, what do we do next? And
we brought them on as clients and we're working with
them and you know, well on their way to just
doing all the things they want to do, traveling and
fun things and you know they like to camp and
be outdoors and spend time together and it's great, you know,
So how do how do retirees you know, calculate their

(33:55):
true income needs and also to do that to make
sure that the fun stuff is included. I think there's
a baseline, if you will, steve, you know, basic living expenses.

Speaker 3 (34:10):
Well, and again that's just beginning, Yeah, the beginning of
our lifestyle. What what lifestyle do we want to achieve
in retirement? And again that's a discussion that you have
with everyone.

Speaker 2 (34:20):
Well, I want to encourage people to go to our
website limehouse financial dot com. Limehouse financial dot com. We
under the resources tab, we've got a budget worksheet, folks,
take advantage of that. We put it out there for you,
print two or three or five whatever. Take a look
at what it cost you just to live your basic
living expenses. Okay, we got to make sure we can

(34:42):
accomplish that goal. And then taking a step further, let's
get into traveling, hobbies, gifts, you know, things that bring
you joy and purpose, and let's budget for those as well.
So there's this interesting survey that we read recently. It
was done by the ebri I Employee Benefit Research Institute,

(35:03):
and it found that forty six percent of retirees spend
more in the first two years of retirement than expected. So,
you know, folks, you can avoid underestimating what retirement might
really cost by doing the things I'm encouraging you to
do right now, which is, you know, let's first of all,

(35:24):
start trying now to live on a retirement budget, but
before you retire, start trying to live on a retirement budget.
Now before you retire, Okay, and on the whole budget thing,
just put one together. You know this is going to
be so helpful for you, based upon my experience helping
thousands and thousands of people retire successfully in the last

(35:44):
two decades. Is these little things that we're sharing with
you are going to help you avoid the potholes on
the road you retirement. They're going to help you avoid
the wrong turns and the dead ends. Okay, eight hundred
nine four zero six nine seven nine. So you know,
back to talking about how to avoid these potholes, if
you will, on the road to retirement journey. There's this

(36:06):
one big one, one big one that starts with an
eye an eye inflation.

Speaker 3 (36:13):
Ooh, that's one you can't get away from.

Speaker 2 (36:15):
Well, it's a pretty big threat to retirement income. And
you know, folks, you just need to understand it and
learn what you can do about it. It's definitely easy
to overlook, but it does quietly eroded purchasing power. I
mean it just three percent annually. Expenses double over twenty
four years. Now, that's a serious challenge when you're on

(36:38):
a fixed income. So we want to help you make
sure that you have the right type of investments and
strategies that help ensure a retirement plan that keeps pace
with rising cost Okay, so you know again this is
the type of work that we do here, and we
want to make sure we're incorporating that into your plan.

(36:58):
Let's not forsake thinking about healthcare costs. There's hidden healthcare
costs a factor into retirement planning. Many times we mentioned
to you that for sixty five year old couple entering
retirement today, they're gonna need about three hundred thousand plus
dollars for healthcare expenses, not including long term care. Let's

(37:18):
don't forsake incorporating that into your plan, you know, and
then there's market volatility, folks, I mean, do you want
the market to determine your direction on the road to retirement.
Make sure that you are checking out the green line principle. Okay.
That's a safe money strategy where zero is your hero,
you can't lose, and you have a lot of upside potential.

(37:39):
Everyone needs a safe money strategy. It's called the green
line principle. Okay, folks. This next offer is for the
next ten collars in the next ten minutes. It's for
a written plan for retirement, individualizing, customized just for you,
built by our team of certified financial professionals, at no
cost or obligation. Folks. You can't just call in and

(38:00):
say send that to me or email that to me.
You must come in go through our process to receive
this written plan for retirement, individualized and customized just for you.
Next ten callers in the next ten minutes will receive
it for no cost or obligation.

Speaker 3 (38:15):
Fantastic trip eight hundred ninety four zero sixty nine seven nine.
It is that simple. Eight hundred ninety four zero sixty
nine seventy nine. Quick break back with another segment Here
on the road to retirement with Trip Limehouse.

Speaker 2 (38:26):
Listeners have questions and we love answering them. Folks, make
sure you're calling in with these questions. Here we go, that,
and a whole lot more. Will we come or write.

Speaker 1 (38:35):
Back 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

(39:01):
Limehouse Financial eight hundred nine four zero sixty nine seventy nine,
eight hundred nine four oh sixty nine seventy nine. It's
your go go years.

Speaker 2 (39:13):
So let's get going with another retirement road trip.

Speaker 1 (39:16):
Road trip huh not yet, but we are excited about
when we can again. In the meantime, let's set up
some temporary road trips you can make at home, maybe
call them hull trips. Come with me. Let me introduce
you to an area of the home mitt to keep
your vehicle out of the elements. Where's your car in
the driveway? Why is that? Well, let's go inside and

(39:39):
take a look, oh, now I see why. Let's see
what we have here. Old treadmill, turned clothes hangar collecting dust.
Now old newspapers. Hmm, I see Reagan beat Mondale nice
TV vintage nineteen eighty nine. Who wants to watch Cheers?

(39:59):
When cavin fever sets in, you can finally do what
you've been saying. One of these days, I'm cleaning it out.
Follow me to another area of the house. In my day,
we call this room a kitchen. Now, what's that odd
looking appliance there? No, no, not the microwave. You know
that one, the one over there. It's called an oven

(40:20):
or a stove or both. Anyway, in another time, people
would prepare meals on and in this device, and many
times others would gather around for maybe a little wine,
some advertisers in great conversation. Now come in here. This
is called a dining room. Now, back in the olden days,
families would gather around this thing called a table, enjoy

(40:42):
a meal together, and not check social media. No, they'd
actually do a little something we used to call talk.

Speaker 2 (40:49):
Here.

Speaker 1 (40:49):
I'll go ahead and take your reservation for tonight at six.
And by the way, this room doubles as a card
playing table room after dinner or maybe board games. You
know this room, it's the bathroom.

Speaker 2 (41:03):
What's this you're.

Speaker 1 (41:05):
Out of you know what? Time for a real safe,
social distancing road trip to the store to find out
they're still out. Any room in your home is a
great room to go online and set up a virtual
conversation with your retirement advisor and learn how to build
a solid plan for yourself with income and risk protection.

(41:27):
Hopefully soon we can all get back out on the road.

Speaker 3 (41:40):
We're back on the road to retirement with Trip Line House.
My name is Steve said, Oh, having a great show.
We's been a fun show today. Trip covered so much ground.
I like it. This sort of a practical approach to things,
sort of no nonsense. Come on in, let's sit down,
let's get that plan put together better. Yet, if you've
got a plan, I mean, you're all about that second opinion,
because I think it's important to get that. And as

(42:01):
they say, you can't get the second opinion from the
guy who gave you the first one.

Speaker 2 (42:05):
Yeah, and I appreciate you bringing that up. Sometimes I
forget about that. Folks. If you are out there and
you have a plan, or or you think you have
a plan, whether someone's given it to you, or whether
it's in your head or you wrote it down yourself, whatever,
come on in for a second opinion and we'll let
you know how you're doing and where you stand. And
you know, everything we do here, Steve is from a

(42:25):
fiduciary capacity. We only make recommendations in people's best interest.
So you know, there's been many cases where someone's come
in for that second opinion and we've said, hey, you're
doing good, don't change anything. But just as many when
we've said, you know what we can help you do better?
You know, I mean, we're always out there looking at
what's in the marketplace. Since we're independent, it's pretty cool

(42:47):
because we're not tied, linked or obligated in any one
particular strategy or company or anything like that. So we
you know, can go out there sometimes and find new
things that people aren't aware of and put them on
the table and say how about this. You know, as
an example for something pretty cool happened recently, we met
with a person and it was it was for a
regular appointment, if if you will, not a first, not

(43:08):
a not a second opinion, but this gentleman's number one
goal was legacy planning, like that's all. That was his
top goal. He just wanted to leave his money to
his kids. And so what we what we were able
to find was this great strategy. And he had one
point six million dollars in his IRA, and he was

(43:28):
taken R and DS at a rate of about five
percent a year. We found this great strategy for him
that would give his family a guaranteed death benefit that
would increase by seven percent every year until the guy died.
He could still take his his arm DS and it
didn't matter if his money performed or didn't perform, because

(43:49):
he knows that his one point six million is going
to grow by seven percent every year. That's the death
benefit that's going to go to his family. I mean,
he was ecstatic. We were ecstatic. We're glad to help him.
It's little things like this that make a difference in
people's lives. Folks. We're having fun helping you and we're
grateful for it. I want to give a shout out
to all my longtime listeners out there. You guys are awesome.

(44:10):
Thanks for tuning in, and it's a pleasure meeting you
out And sometimes I'll just be out somewhere and people
be like, hey, I recognize your voice. I think you're
that guy on the radio. Yes I am, and and
I'm thankful to be able to do what we do,
providing you with good information on an ongoing basis. And
for you know, new listeners, you're in the right place, folks.

(44:31):
The Roads Retirement Show with Limehouse Financial we do a lot,
and we do it well. We want to see you
welcome in. And of course, while I'm talking about folks,
I got to just give a shout out to my
best friend in the world, my lovely wife Amy. Honey.
I love you so much and I'm so thankful that
God put you in my life all those years ago.

(44:52):
You and I are having a great time and it's
only going to get better, honey. So here we go
with these listener questions. Steve throw you got it.

Speaker 3 (45:01):
Here's our first one. It's from Ralph and Lexington. He
and his wife say they've got about six hundred and
twenty thousand dollars saved in a four to oh one k,
but unsure whether to start pulling from from it once
they retire at sixty four or hold off to avoid
bumping up their tax bracket. They also have a small
pension kicking in at sixty five. So the question is

(45:24):
how do you help someone time four oh one k
withdrawals to avoid unnecessary taxes? That's a good question.

Speaker 2 (45:32):
Yeah, Ralph, thanks for being a listener and for calling in.
As I say, often these questions that you have that
others have sometimes they are the same questions as someone
else asked, but they didn't want to, you know, call
in or whatnot. So very helpful for all folks out there.
So timing four one k withdrawals to avoid unnecessary taxes,

(45:58):
you know, so so retiring at a fairly young age,
you know, sixty four, having a small pension, it's going
to help out. I think a lot of revolves around this.
I mean, you know, social security timing. You know, have
you guys started with your Social Security benefits or you're
delaying a little bit. You know, what is your what

(46:21):
is your income? You know where is your income come from?

Speaker 5 (46:25):
Uh?

Speaker 2 (46:25):
You know, once you do retire, if you're not going
to make withdrawals from this four to one k, you know,
what what is your what is your required you know,
retirement income to meet your your needs, just to you know,
keep the lights on maybe you have a mortgage, by groceries,
put gas in the car, that thing. What's your lifestyle goal?
I mean, there's so many questions, so I guess helping

(46:50):
you avoid unnecessary taxes. Well, one of the things is
at retirement, sometimes a mistake that people make is they
leave their four one k with their former employer. Now
that's really not a good idea for several reasons. Number One,
when you make a withdrawal from that four to one K,

(47:12):
it's a mandatory twenty percent withholding, and that may be
you know, that may be what needs to be withheld,
but in general that can be a little high for people.
When the money's in an ira, you can control the taxes.
You can say don't withhold or withhold less or whatever. Okay. Also,
when the money comes out of the four one k
into an IRA, you know you have more investment options

(47:33):
and lower fees. So that's one thing Ralph I want
to share with you is let's just not leave the
four one k where it is. And by the way, folks,
if you're out there and you're fifty nine and a half,
just know that more than likely you can roll your
four to one k over into an IRA. That we
can set up for you right now. You can still
continue to work, you can still get the matches, you
can still contribute to your four to one K. The

(47:54):
difference is you've moved from having an account to having
a plan. You see, an account is just where money
is located, but a plan is what's going to get
you to where you want to go and keep you there.
So make sure you ask us about rolling over your
four to one case, Ralph. As far as unnecessary taxes,
I mean, they're all the taxes are always going to
be there because this is a tax deferred retirement vehicle,

(48:16):
you know, So again let's just build, you know, at
the core of it, it comes down to building you
an income and a distribution plan that's going to meet
your needs now and in the future. And perhaps it
does involve you withdrawing funds from your tax deferred retirement
hopefully plan that will help you with versus the account.
And I mean, but the unnecessary taxation, it's I mean,

(48:38):
it's always going to be. The taxation is always going
to be there. And as far as bumping up into
the next tax bracket, you know, sometimes that just happens.
And quite frankly, I think that could be a blessing
because if you're bumping up to the next tax bracket,
that means you have pretty sufficient retirement income. And that's
a blessing in and of itself. But at the end

(48:59):
of the Ralph, when it comes down to is having
a tax efficient retirement plan. I would encourage you to
come on in and sit down with us. Let's build
it for you and show you how to do things
the best way possible.

Speaker 3 (49:09):
All right, fair enough, give us a call, Ralph if
you're interested. It's eight hundred ninety four zero six nine
seven nine. We have Sandra in Chapin. Sandra's wondering. She's
sixty years old, recently retired, has most of her savings
in a traditional IRA. She's considering a Wroth conversion, but
doesn't want to get hit with a big tax bill

(49:29):
all at once. Just what we've been talking about a trip.
What's a smart way to approach roth conversions over time,
especially before RMD start.

Speaker 2 (49:39):
Well, thank you for being a caller, and thank you
for talking about Roth conversions. I'm going to go to
the RCA, which is a Roth conversion analysis, and that's
something that as an income and a distribution planning expert
that we can provide for you. Jonathan O'Reilly, my investment
advisor and myself can can give this to you. It's

(50:02):
going to show you if Wroth conversion makes sense or
if it doesn't make sense. It's going to show you,
you know, how much you could save by converting or
not save. I think that there is an advantage, of
course to doing you know, Wroth conversions prior to your

(50:23):
requirementium distributions starting, because you know, if you've taken all
of your tax for money out of tax defferd status
prior to R and BS, then you're not even going
to be subject to having to be forced to take
money out at a certain age, you know, seventy three
or seventy five. So I think that a smart way

(50:44):
to approach it over time is just to do it strategically.
Very few of our clients just do really big lump
sums of Wroth conversions because it will drive you to
the next tax bracket. But again, I mean, we're in
a pretty favorable tax environment now, so that could be
a strategy for you at the end of the day.
I think since you don't want to get hit with
the big tax bill all that wants strate strategically mapping

(51:07):
it out over a period of time. Maybe you know
two or three or five years could be in your
best interest. But a starting point for you would be
to come in and see us and get the Wroth
conversion analysis so that we can for sure determine you
know what's best for you and share with you when
to do it. So come on in and sit down

(51:28):
and talk with us about that. We'll build you the
written plan for retirement, and we'll make sure that we
are mapping out any Wroth conversions. We're just so thankful
that you tuned in for another great episode of the
Road to Retirement Show. Last off for the days. For
the next ten callers in the next ten minutes, it's
for a written plan for retirement built by our TEAMO
certified financial professionals, no cost or obligation to you. For

(51:50):
the next ten callers in the next ten minutes, you'll
receive a written plan for retirement, no cost for obligation.
Eight hundred nine four zero six nine seven nine Limehouse
Financial dot Com just want to wrap up today by
thanking you for spending time with us. We value you
and we want to see you. We're having fun helping people.

(52:12):
We are experts in retirement, income planning, and social security
planning and much much more. Visit us on the web
at limehouse financial dot com. Hey make sure you tune
in next week for another great episode of the Road
to Retirement Show with Limehouse Financial. And until then, God bless.

Speaker 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,
you'll think.

Speaker 6 (52:44):
Of you, you guts Well, I'm one guy who ain't
prejudiced against anybody who may be lesship py than me.
It kind of sneaks up on you, doesn't it.

Speaker 2 (52:57):
Oh geez.

Speaker 6 (52:58):
You deserve a secure or independent retirement, our retirement that
is prepared to handle pitfalls like inflation, health emergencies, stock
market volatility, and taxation. You worked hard for your money
and will work just as hard to protect it and
grow it. Retirement planning doesn't have to be difficult. Get

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

Speaker 1 (53:41):
Information provided is for illustrated purposes only and does not
constitute investment, tax, or legal advice. Information has been obtained
from sources that are deemed to be reliable, but their
accuracy and completeness cannot be guaranteed. Either trip Limehouse nor
his guests are liable for the usage of information discussed.
Always consultable the qualified investment, legal, or tax professional before
taking any action.