Road to Retirement 08-30-2025

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):
We've all heard the classic financial advice pay off your mortgage,
downsize your home, and stick to a fixed retirement income.
The question is, in today's world of longer lifespans and
market volatility and unpredictable inflation, to those tried and true
rules we just mentioned still makes sense. Let's take a

(00:43):
fresh look.

Speaker 1 (00:43):
Coming up next, do you want to avoid taking a
wrong turn on your retirement roads.

Speaker 2 (00:50):
The road to retirement is a long one, and if
you just don't want to make wrong things.

Speaker 1 (00:54):
Wrong, well, buckle up. We're getting ready to take a
retirement road trip together, road to retirement with Trip Limehouse.

Speaker 2 (01:03):
It's the perfect amound to map it out. That road
to retirement is.

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

Speaker 2 (01:15):
My money is safe using the green line principle that
you taught me about. Thank you so much.

Speaker 1 (01:21):
Let's get this trip started. It's the Road to Retirement
with Trip Limehouse.

Speaker 3 (01:29):
Welcome man, everybody, this is the Road to Retirement with
Trip Line House. My name is Steve so All. Trip's
been helping folks get to retirement and through retirement for
better than twenty years along with his team, including Jonathan
O'Reilly the independent fiduciary that he is. And again, Trip
All was a pleasure. Nice to see you.

Speaker 2 (01:46):
Yeah, great to be with you and of course also
with you guys out there and Radio Land. Welcome into
another exciting episode of the Road to Retirement show with
Limehouse Financial. We are income and distribution planning experts. We
help you get there and stay there. And we're talking
retirement something then what I have observed over my twenty
plus years helping people something that's really important to learn about,

(02:11):
know about and make sure that you do the right way.
Wouldn't you agree Steve Retirement?

Speaker 3 (02:15):
I completely agree? Yeah, absolutely, And again I think sometimes
some one size does not fit all, especially when it
comes to retirement planning. For sure, now bank Rate does
a lot of surveys and I've got some insights from
bank rate, and we're talking about the old standards in
a new light. What strategies still work, which ones don't.

(02:37):
So you mentioned this at the top, talking about them
paying off the mortgage should be Russio. Is that a requirement?
Is that something that we need to do?

Speaker 2 (02:45):
Yeah, I mean, that's that's one of the top questions
we get. You know, in general, we're working with people
that have seven figure portfolios, and even those people high
network individuals are asking that question, should I pay my
mortgage off? You know? I read a book recently that
Amy got for me, my wife and by the way, Honey,

(03:05):
I love you so much. You were awesome. And this
book was called The Psychology of Money. You ever heard
of that one, Steve The Psychology The Psychology of Money. Well,
I would recommend it to all all of my listeners.
It's just a great read. It's an easy read. Anyway.
I took so many things from that that book. I've
actually read it twice now and kind of back to back.

(03:28):
I wanted to soak it up. But one of the
things I took away was that the author of that
book said, some of this stuff comes down to, you know,
not only what you think about it, but how you
feel about it. You know, it's just an amazing feeling
to be debt free. I recalled the day when Amy
and I became debt free completely, and I just I

(03:52):
felt this immense sense of freedom. I mean I really did.
And so for me that made sense even though the
mortgage that we formerly had was, you know, at a
really low interest rate. I mean we were like three
fixed for thirty years. You know, sure, could I have
done something different with that money, not paid the house off? Sure?

(04:14):
Could I have maybe earned a greater return than the
three Sure, But what made me feel really good, you know,
in addition to the whole thought process, and what made
me feel really good was eliminating that mortgage. And so,
you know, glory be to God, we were able to
accomplish that goal. Quite a feat for anybody out there.

(04:36):
But again, some people are not gonna, you know, get
that same feeling that I got that Amy got from
doing that. They may be comfortable whatever interest rate they
have carrying a mortgage, and that kind of ties into
what you just mentioned that really one size doesn't fit all.
So you know, that is classic financial advice. You know,
pay off the mortgage, downsize, and we're going to continue

(04:59):
to talk about things like that. I mean, I definitely
think that, you know, owning your home outright, it is
liberating for sure, but it might not always be the
best move. I just have to say that. I mean,
now we're dealing with interest rates that are, you know,

(05:19):
around six or higher. And you know, the thing is,
as I mentioned, some investments could offer maybe an equal
or even a higher return, and I don't know, to
some extent, locking cash into a house it could cost
somebody growth opportunities. And there is the whole thing that

(05:43):
if you do pay off the home with cash that
you've saved, it's going to reduce some liquidity, right, and
then you can't really easily access that money if you
need it later. You know, you'd have to you know,
go through a home equity line or something like that.
So I guess the question for folks out there, is
the emotional relief so to speak, worth the financial trade

(06:04):
off For me and for my wife, the answer was yes,
But for someone else out there and.

Speaker 3 (06:09):
Maybe no, Okay, And then I think that's that's great.
I mean, that's a great way to look at it,
and that they're right. There's no right answer and there's
no wrong answer.

Speaker 2 (06:18):
Yeah, And and that's really that that's just planning in general.
That's that's all the way around. You know, some people
think different about things and feel different about things related
to money. Back to that book, I would encourage all
my listeners to to potentially pick that up because it'll
help you determine things like we're talking about right now,

(06:41):
and and and it'll really benefit of moving forward. How
about this one, you know, we're talking about classic financial advice.
You know, a question that I would poise to our
listening audiences. How much will you really need as far
income is concerned each year in retirement? That's a tough one. See,

(07:04):
that's a really tough one. Yeah.

Speaker 3 (07:07):
And how do we know trip? I mean if we think,
you know, like the example that they have here, I mean,
if I need eighty thousand dollars a year, how am
I going to do that? How do I create that?
And that's what that's what we have to do. We've
got to recreate that paycheck.

Speaker 2 (07:19):
Oh yeah, Because there's two things that occur, a person
working or money working, and when the person stops working,
and the money has to work. So you know, a
short answer is how do you determine? How do you
know is really you know, sitting down and talking with
us is going to very clearly define that number. We're

(07:44):
taking into consideration all the factors that are so important,
you know, how long a person may live, or taking
into consideration inflation, healthcare, taxation, lifestyle goals, et cetera. So
you know, so, I think what I have observed is
there's a catch to this, like how much do you

(08:06):
really need a retirement thing? And the catch is that
most people figure it in today's dollars, you know what
I mean?

Speaker 3 (08:13):
Oh, sure, well that makes sense. How else are we
going to think of it?

Speaker 2 (08:16):
Yeah, And well how people need to think of it
is taking in against a consideration you know, a lot,
which I just mentioned in a second ago, but check
this out. Even even a low three percent annual inflation rate,
it erodes your buying power dramatically. As an example, one

(08:39):
thousand dollars today would only purchase about four hundred and
twelve dollars worth of goods in thirty years. So that's uh,
you know, that's a fifty percent, sixty percent reduction in
purchasing power. And here's the deal. Here's the deal. History
shows us that inflation is not always mild. Me folks,

(09:01):
you're you know, you may have endured this. In nineteen
eighty we were at fourteen point eight percent. There was
a spike that year. So you know the question is
how how are you going to plan income that keeps
up with the future. And really it all comes down to,
you know, the four letter word, the p l A

(09:21):
and the plan. You just have to have it. Eight
hundred nine four zero six nine seventy nine Limehouse Financial
dot Com eight hundred nine four zero six nine seventy nine. Hey,
we're having fun helping people get to and through retirement.
Now this is just the excusation we're having.

Speaker 3 (09:44):
Well, yeah, because I think it gets into so we're
talking about, you know, pay off the mortgage, how much
do we need? And then downsizing. That's a discussion that
needs to be had because it doesn't necessarily always it
isn't necessarily the best idea. I mean, it might be,
but you got to have a discuss about that.

Speaker 2 (10:01):
Yeah, I mean that kind of ties into what we
were We open up with classic financial advice downsizing, you know,
and it does seem fairly logical just on the surface. Hey,
just downsize, you know, I mean maybe you you raise
the kids, now they're all gone, and you do something
like sell, so to speak, your your large home and

(10:26):
then move into something smaller. But this is what I've observed,
see for you know, with my clients that have done this,
or with people that have done this before, you know,
before they became clients and they came in and shared
stories with us. Downsizing it's not always a slam dunk.
I mean, there's factors to consider, like closing costs when

(10:47):
you purchase a new property, realtor fees, moving expenses, home
prep and and and you know, usually downsizing is going
to involve someone making something theirs once they get in it.
You know, it could be landscaping, it could be home modifications,
it could be so many different things that and those

(11:09):
costs can very quickly add up, so I don't know,
it could take years to break even, and maybe it
is a good idea. Also, a smaller home doesn't necessarily
mean something like lower property taxes or lower living cost
so potentially folks staying put could actually make sense. Again,

(11:32):
these are what we're talking about now, is you know,
classic financial advice things, you know that we've all heard
through the years, but there is no one size that
that fits all. And I like how you said that
at the beginning of the segment. Today, folks, speaking of
the beginning of the segment or any segment, I want
to remind you that you can always go back and
listen to The Road to Retirement Show with Limemhouse Financial

(11:54):
at your leisure. We make it available after we produce
these shows, we turn in to a podcast, So check
out iHeartRadio, Google, Spotify, wherever you would stream content the
Road to Retirement Show with Limehouse Financial, and actually you
can subscribe to it get it to your inbox fresh
every Friday. So thanks for listening and stay tuned for

(12:16):
the next segment. But in the meantime, I want to
extend an offer to the next ten callers in the
next ten minutes, and it's for a written plan for retirement,
built by our team of certified financial professionals at no
cost or obligation to you. This is individualized and customized.
You cannot, I repeat, you cannot just call in and
say mail it to me or send it to me.

(12:37):
You must come in, go through our process to receive
this individualized, customized written plan for retirement at no cost,
for obligation. The next ten callers in the next ten minutes,
it's yours.

Speaker 3 (12:49):
Sounds fantastic. Trip eight hundred nine four zero six nine
seven nine. That is the number, and we would invite
you to call us and again there's no cost, there's
no obligation to help you get a better handle on
your financial situation. That's why we invite you to come
on in, sit down and find out what your investments
are really costing you because of fees or commissions. How
about tax implications need to be discussed. How much income

(13:10):
can you generate once you move into retirement. Those are
the questions that can be answered. You to sitting down
with Tripping the Team. Eight hundred nine four zero sixty
nine seven nine. That's eight hundred nine four zero sixty
nine seventy nine quick break for us. We're coming back.
We've got lots more on the road to retirement with
Trip Limehouse right after this.

Speaker 2 (13:26):
You've worked hard to build your nest egg, but inflation
is the silent threat that can chip away at your
buying power year after year. We're going to dive into
practical ways to protect your retirement income so you can
live comfortably no matter what the economy brings.

Speaker 1 (13:52):
There are many analogies and metaphors you could use to
describe today's current economic climate, economic climate and retiring in it.

Speaker 2 (14:00):
You could use the hurricane.

Speaker 1 (14:01):
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, 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

(14:24):
your retirement plan designed to be strong and fortified even
in the worst case scenarios? Are strategies in place to
build in growth, protection, and income and help alleviate that
fear of running out of money in retirement. If your
answers are no, then you need a good retirement specialist
on your side. Call Trip Limehouse of Limehouse Financial eight

(14:44):
hundred nine four oh sixty nine seventy nine eight hundred
nine four oh sixty nine seventy nine.

Speaker 3 (14:57):
Welcome back. This is the road to retirement with trip line. Wow,
Tripp is guiding us along today as he does each
and every week. We're kind of avoiding the detours, the
bumps in the road. But that's what it takes to
get to retirement. And as smooth as we can. We're
going to talk about inflation, because that's anything but smooth.
Uh Yeah, callut of milk doesn't cost but it did
twenty years ago, and in twenty years it won't cost

(15:19):
what it does today. I guess that's that's just logical trip.

Speaker 2 (15:22):
I mean, it's just always been a part of our
financial lives, but in particular for people who are are
retired living on a fixed income, I mean, it can
feel a little like, uh, I don't know, a slow
leak in the uh, in the financial bucket, if you will.
I guess the big question for folks is, you know,

(15:42):
how do you keep up with with everything? Uh, with
this happening in the background. So we just we we
wanted to explore some strategies to help you guys out
there prepare your retirement income to kind of stay ahead
of rising cost, if you will. Oftentimes we talk about
controlling the controllables, and folks, you know, there are many

(16:06):
things that you can control, such as a longevity risk,
the possibility of you outliving your money. By the way,
that's the number one risk you face in retirement, outliving
your money. The second greatest risk you face is recovery risk.
When you lose money, how long does it take you
to get it back? Okay, So that's also a controllable risk,
and you know, we can help you with both of

(16:26):
those things. But something that you cannot control is inflation.
We don't have a say in it. It's just there,
lingering in the background, and it affects all of us.
So as someone who may be headed towards the exit
on the road retirement journey, or someone who may already

(16:47):
be there, we just have to address this. I don't know.
I think when we talk about inflation, Steve, kind of
what comes to my mind is it's a very slow,
but relentless force, you know what I mean.

Speaker 3 (17:08):
Oh, yeah, No, you're right, and it's it seems almost
painless until you realize what's happening.

Speaker 2 (17:16):
Yeah, and especially like so Amy, she just takes such
good care of me. Thank you, honey, I love you
so much. I'll just say it over and over again.
You're my best friend. But she, you know, fortunately has
been able to be you know, in the role of
running things at the house, you know, the CEO of
the home, and part of that is going and buying
things that are needed around the house, Uh, whatever may be.

(17:40):
Let's just take groceries as an example, right, sure, And
you know, I don't know in the last I mean
i'd say even five six years or so, as I've
gone to the store, which I do occasionally do most
of the time, I go with her just to hold
her hand and then you know, maybe pick out a
couple of things that she didn't have on the radar

(18:00):
that I would like or whatever. But you know, what
I've seen is that these things are costing more. And
I'll say to her often, honey, you know this has
this always costs so much, and she's like, no, it
has not. I mean the example, you used a gallon
of milk doesn't cost what it did twenty years ago.
I mean, that's just so true. It's think about eggs.

(18:25):
I mean, I love eggs. Do you like eggs?

Speaker 3 (18:27):
I like eggs.

Speaker 2 (18:28):
Hey don't put them all in one Basket's say, we
want to diversify with their eggs. But you know, I
look at the price of eggs that have happened that
they were so high. I mean, I was like, this
is crazy, seven eight, nine dollars a dozen, and then
it kind of came back down. Just think about the mild,

(18:50):
Think about mild inflation. Think about mild inflation. It's not
even like like maybe like it has been at times recently.
It's not hyper inflation. It's just so to speak, regular inflation.
You know that sounds silly to say, but I mean
compared to hyper inflation, it you know, it's better. I

(19:12):
mean mild inflation. Uh, it erodes buying power like dramatically
over time. As an example, a three percent inflation today, Okay,
using that three percent number, one thousand dollars today that

(19:34):
you have in your possession. If we fast forward thirty
years in retirement, sometimes can be a thirty year journey
or longer. Right, that thousand dollars today is only worth
four hundred and twelve dollars at that thirty year point.
That's a lot.

Speaker 3 (19:54):
That's a lot. It's a big difference.

Speaker 2 (19:56):
Sure, it's huge. And so we got to go back
kind of in in history and take a look, like
maybe at what has happened inflation can spike a lot
more than it has recently. I mean we mentioned it
earlier talking about it again. Fourteen point eight percent inflation.

(20:18):
That's hyper inflation, folks, and that was in nineteen eighty
or nine percent, and that happened in twenty twenty two. Huge. Huge,
So that just means that if you have something like
a pension that's fixed or well, let's just say a
low yield savings account, it might feel fine now, but

(20:42):
you have to have the foresight because in ten or
twenty years it's just not going to stretch far enough.
So the question is, you know, how do you build
a plan that can grow as prices rise? And realistically,
that's what it comes down to is having a plan
built by an expert like myself or my investment advisor,

(21:03):
Jonathan O'Reilly, one that is built to last. Because I
can share this with you, folks. When we do that
for you, you will be better for it, and you
will know for a fact that your retirement success rate
is going to be successful, at least hitting the benchmark
that we require to say you can be successful. You'll
know that for a fact. Because some people are they
project things like I'm going to project what's going to happen,

(21:26):
and maybe they use a spreadsheet, or maybe they just
write down a piece of paper, or they use a
calculator or something like that, right, you know, you know,
I mean just little things. But with this whole inflation thing,
we really need to not speculate and we need to
you know, account for it over a long retirement. So

(21:47):
you know, that's one of the ways that I would
share with you that you can know you're going to
be successful despite prices rising is by just having a plan.
But now let's get into the fixed income, you know,
fixed in.

Speaker 3 (22:00):
Sure, Well that's what people are when we retire. You know,
we essentially think we're on a fixed income, but a
fixed income still needs to be flexible.

Speaker 2 (22:09):
A flexible fixed income.

Speaker 3 (22:11):
Yeah, does that make.

Speaker 2 (22:12):
Sense an f F I okay, I like it, flexible
fixed income. I just think also this ties into what
I just mentioned a second ago, the four letter word,
the P L A N. Having a plan. Folks. By
the way, you can reach us at eight hundred nine
four zero six nine seven nine eight hundred nine four

(22:37):
zero six' nine seven, nine AND i encourage you to
call in with your questions, comments calling to get on our.
Calendar we'd love to see and help you with this.
Stuff Limehouse financial Dot com is where you can find
us on the. Web so What i've observed after over
two decades of helping people plan is that a lot

(22:59):
of retire is they move into let's just say safe,
investments and that's definitely. Important, okay we cannot forsake safety
as a matter of. Fact that's why we talk about
the green line, principle. Folks the green line principle is
a safe money strategy where zero is your. Hero you
cannot go. Backwards you have a lot of upside, potential

(23:19):
and everyone needs a safe money strategy as a part
of their. Plan so make sure you ask us about
the green line. PRINCIPLE a lot of you are concerned
about market. Volatility you don't want the market to determine
the direction that you go on the road to, retirement
and one way that you can accomplish that goal is
by having the green line principle as a part of your.

(23:41):
Plan so ask us about that safe money, strategy the
green line. Principle and you know the thing about let's
just say CDs or, bonds they really kind of can
fail to outpace inflation in the safety it does have

(24:02):
this comforting. Feature of, course you, know you know that
you can't go, backwards you can't lose your, money and
that is so, important AS i continue to, Say but
money and low growth, vehicles here's the, Problem. Steve it
often can lead to a slow decline in people's lifestyle
and they and they don't even know. It so you,

(24:23):
know as an income and distribution planning, expert and and you,
Know jonathan AND, i we work together to come up
with what we would call a balanced, approach and that
involves keeping a portion of assets and professionally managed money
in portfolios maybe something like a dividend paying portfolio or growth.

(24:48):
Portfolio and the reason for that is we want capital
appreciation and we also want to outpace. Inflation so you,
know a question THAT I i would say is we're
wrapping up this segment, is, folks you, know should you
embrace some market exposure even in retirement in your later

(25:10):
years if you, Will and the answer is, yes that's
going to attribute to your success long. Term don't. Worry
you're in the right place because that's what we. Do
one of the many things that we do is we
professionally manage. Money, hey hang, On we're going to come
back and continue on with this subject about how to
really make sure you're structured as best as possible to

(25:30):
endure the effects of inflation as you move forward now
and into. Retirement eight hundred and ninety four zero six
nine seven. Nine the next ten callers in the next
ten minutes will receive a written plan for, retirement, individualizing
customized just for. You this is not something you can

(25:52):
call in and, say, hey just mail me or email.
Me you must come in and go through our process
to receive this. Again the next ten callers and the
next ten minutes will receive a written plan for retirement
built by our team of certified financial, professionals, individualizing customized
just for, you at no cost or. Obligation call in now.

Speaker 3 (26:11):
Sounds, Great, Trip DO i make that call while you're
thinking of an eight hundred ninety four zero sixty nine seventy.
Nine you know it's advice like that that shows you
just how important it is to meet with a financial
coach Like trip and somebody who understands the ins and
outs and ups and downs of the financial. World we
invite you to take advantage of this. Opportunity just make
sure that you are on the right. Path that path

(26:32):
is based on things like your risk, preferences your, budget
and of course your. Goals make that call today eight
hundred nine four zero six nine seven. Nine eight hundred
nine four zero six nine seventy. Nine we've got a
lots more road to retirement With Trip. Limehouse and it
happens right after.

Speaker 2 (26:48):
This don't go anywhere the silent threat that can chip
away at your buying power a year after, year the
BIG i, word. Infillation we've just been talking about practical
ways to protect your retirement. Income we're going to continue
on with that coming up.

Speaker 4 (27:06):
Next in, life there are defining moments you may kiss the.
Bridect you got a, job, Buddy retirement is one of
those stand, out exhilarating, times hard paid em seize the,
day meet at no cost with our local independent team

(27:28):
who are here to help coach you along this journey.

Speaker 3 (27:31):
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 we're back on the road
to retirement With Trip. Limehouse having a nice, journey a
nice drive. Today we're kind of cruising at the speed,

(27:53):
limit just enjoying the scenery.

Speaker 2 (27:55):
Right, yes we, Are we sure. Are AND i want
to give a shout out to all of my clients out.
There you guys are. Great, hey thanks so much for
Allowing Limehouse financial to help you get to where you
want to go and stay. There it's just so much
fun watching each one of you. Succeed it's so much
fun watching each one of you be, independent be in

(28:18):
control during this great time of life that you've always
looked forward. To your business means so. Much thank you for. It.
Folks you could become the next. Client eight hundred nine
four zero six nine seven nine eight hundred nine four
zero six nine seven Nine limehousefinancial Dot. Com this is. Important.

(28:40):
Retirement we got to do it. Right we don't get do.
Overs and one of the, things, yeah in a lot
of areas in life we, can but not. Retirement and
one of the things that we see it's very. Real
and this is whether you're about to be, retired or
are are, retired or even if you know you're far
away from, retirement and, uh it just it really really affects.

(29:03):
You in the last, segment we talked about how it's
a slow but relentless. Force we talked about how fixed
income doesn't always mean a fixed. LIFESTYLE i want to
get into talking a little bit about social, security one
of my one of my favorite, Topics, Steve.

Speaker 3 (29:19):
Okay let's talk about, it, well social security and. INFLATION i, mean,
again that's a. COMBINATION i, mean the assumption, is and
we know what happens when we, assume but the assumption
is that the cost of living adjustment will keep up with.
Inflation it turns out not so.

Speaker 2 (29:33):
Much not so, much not so, much and and, uh you,
know as a social security and income planning, expert we
talk about this on an ongoing. Basis and by the, way,
folks if you do not have a social security, roadmap,
uh you may be headed down a road that's not

(29:54):
a good one and potentially could you, know lead to
a dead. END a social security roadmap is a document
provided to you by an expert like myself or my investment,
Advisor jonathan, O'Reilly and it takes into account where you,
are what you, have what your goals, are where you
want to, go all that stuff it and it pinpoints
the best time or age for you to file for

(30:19):
your benefit to do two things to optimize and maximize
your social. Security so if you're not quite sure about
when to. File don't just make a decision. Haphazardly don't just, say,
Oh i'm sixty, Two i'm gonna take, it Or i'm
full retirement, Age i'm going to take. It call us
and ask us about that social security. Roadmap i'd be

(30:39):
happy to provide that to those that call in eight
hundred nine four zero six nine seven. Nine that's just
something that we do steve to help. People that social
security Road maybe it's a great, thing you.

Speaker 3 (30:50):
Know absolutely it. Is and with that as, well it's
so IMPORTANT i think to have that understanding of how
social security works and again to strategize when to claim solid,
security when to make that. Decision that also feeds into
an overall retirement.

Speaker 2 (31:07):
Plan it's a big part of, it and it might
just be the foundation of. It you, know probably a
third of people out there who enter, retirement the only
thing they're going to have is social. SECURITY i, mean,
boy for those people making the best, DECISION i, mean
that's just a do or. Die you've got to make
sure you file forward at the best. Time but you,

(31:29):
know in, general our clients that we're working, with you,
know they have money saved for. Retirement you, know on
average seven figure portfolios or what we're working. WITH i
also want to share people we do not exclude those
that don't have a certain amount of. Money we will help.
Anyone i'm just referring, to you, know what our average

(31:50):
client looks like with that larger. Portfolio for those, people you,
know making the best decision on social security is imperative as,
well but it is less to their detriment if they
happen to make a mistake and take it at the
wrong time because they have more money. Saved you, know
that just would make. Sense but this whole built in
thing for inflation with social, security it's not a full,

(32:14):
solution it really. Is AND i mean Social security does
include an annual cost of living adjustment and that does
help offset. Inflation but as an, example in twenty twenty,
four retirees saw a three point two percent cost of living.
Increase okay and the like much but aren't, no it would,

(32:35):
do but it just right it kind of hovering around
where inflectional. Was but in twenty twenty three it was
check this, out a record eight point seven. Percent here's the, thing,
though the cost of living adjustments With Social security or
tied to a, Formula, steve and unfortunately that, formula it

(32:56):
doesn't always reflect true senior spending. Patterns if you, will
it's obviously when you take into consideration healthcare, costs which
we're going to get into in a. Second so the
question would, be should a retiree solely rely On Social
security's cost of living adjustment to help them outpace inflation
or should they treat it as just one piece of

(33:19):
the inflation. PUZZLE i think the latter would be. BENEFICIAL
i want to just kind of step up on a
soapbox for a moment and talk about that twenty twenty
three eight point seven percent cost of living. Adjustment that was,
massive and, FOLKS i get. It, listen you know costs
of living adjustments are. Necessary but here's what's problematic our.

(33:44):
Country god Bless. America i'm not going. Anywhere i'm so
thankful to be, here and we need to pray for
our nation for, Sure but our country is thirty six
plus trillion dollars in. Debt. Okay so a QUESTION i
would ask you guys out, there if you're working and
your employer has a bad, month a bad, quarter a

(34:08):
bad six, months a bad, year do you think that
you're going to get a pay.

Speaker 3 (34:13):
Increase, okay, WELL i mean in theory, yes but in
reality probably. Not.

Speaker 2 (34:19):
Yeah theoretically everybody should get a little. Raised, yeah but
we're talking about someone working for a company that has
a massive amount of, debt that's having a hard time meeting, payroll,
that's you, know being not successful as it used to.
Be do you think the boss is going to come
around and, say, hey you're doing a great. Job i'm

(34:40):
going to give you a. Raise probably, not because there's
no money there to do it. Right and when we
think about the SoC security cost of living in twenty twenty,
THREE i get frustrated when at that eight point seven,
Percent and again the reason IS i think it's fiscal.
Irresponsibility the thirty year average cost of living adjustment For

(35:01):
Social security two point five. Percent there have been many
years when it's been, Zero but when that happened in
twenty twenty, three where it was at eight point, seven
it just burned me up because what is that doing
to all of? Us it's putting more pressure on All.
Americans you, know we're all. Responsible we didn't cause, it

(35:22):
but we're responsible for that national, debt and it's going
to pass on to the next, generation next generation and next,
generation And Social security is in is in a bind right.
Now you, know twenty thirty, three twenty thirty, four The
Sociecurity Trust fund is scheduled to be, depleted and you
know what happens, then, well potentially a twenty five percent

(35:43):
reduction in your. Benefit. Folks can you imagine you're receiving
a paycheck every month From Social security and then one
month you get a twenty five percent Less, OKAY i
mean not, good not good things that think about or
imagine at. All but you know again that eight point
seven percent got. Me SO i just, UH i really

(36:07):
look to our legislators to be making sound financial decisions
on behalf of each and every one of us here
in this country that works so hard and that contribute
to this entitlement program Called Social. Security, okay enough of.
That getting into healthcare and inflation on, healthcare well that's a.

Speaker 3 (36:26):
Whole different ball of. Lacks as they, say it's more
than regular.

Speaker 2 (36:29):
Inflation oh, yeah it's, huge it's, Huge. Okay on, average
healthcare inflation has been around two to three percent, historically
but healthcare costs rise now closer to five or six
percent on an annual, basis and that's a major concern
as we, age. Folks medicare covers a, lot but not,

(36:51):
everything and in particular long term. Care That's steve long
term care. Rules, people you know WHAT i.

Speaker 3 (36:57):
Mean, Yeah oh my. Gosh, yeah it's a it's a,
thing and it has to be addressed and discussed.

Speaker 2 (37:04):
And planned, for properly plan. For, yes, YEAH i mean
if a person omits proper planning this whole healthcare, thing medical,
inflation if you, will it can just take away a
large portion of the retirement. Budget and you, know we

(37:25):
don't want that to. Happen so folks ask us about
long term care. Planning you, KNOW i mentioned today on
the show two of the top risk you have during.
Retirement one longevity risk that's the possibility of outliving your.
Money to recovery, risk that's the possibility of when you lose, money,
hell how long does it take you to get it.
Back third greatest risk in retirement is long term care.
Risk we help people plan for that many different. Ways

(37:47):
so if you're thinking about long term care the effects of,
it and hoping that you know you're just gonna be,
okay well take. Action eight hundred nine four zero six
nine seventy. Nine we'll build you a plan that will
help you offset the cost of potential long term care
needs in the. Future so a couple quick, things. Folks

(38:10):
your housing choice does impact your inflation. Risk we talked
earlier about potentially. Downsizing maybe that could be a good.
Thing maybe. Not let's also look at some practical. Things
dividend paying, stocks maybe some real estate, assets proper withdrawal
strategies and income and a distribution plan that's going to

(38:32):
help you stay in retirement be successful despite the effects of.
Inflation we're offering our inflation proof retirement review for you right.
Now the next ten callers in the next ten minutes
will get our inflation proof retirement review at no cost or.
Obligation you must call in eight hundred and nine four

(38:53):
zero six nine seven nine and just ask us for
the inflation proof Retirement review to ensure your success on
this wonderful journey called.

Speaker 3 (39:03):
RETIREMENT i like That trip sounds like a great. Idea
eight hundred nine four zero sixty nine seven nine is
how you get. Started, really you just need to sit
down and get a financial roadmap put. Together trip and
the team are there for you taking that complex financial
world and turning it into something that really makes. Sense
it's a chance for you to get a true practical financial.
Review and if you're, listening then give us a call

(39:25):
eight hundred nine four zero six nine seven. Nine you'll
get that comprehensive financial review and you'll see where you are.
Today but most, importantly it becomes a roadmap that can
help guide you to help get you to where you
need to. Be, so in, short you've got nothing to.
Lose call right now eight hundred nine four zero six
nine seven nine ten callers right now eight hundred nine

(39:46):
four zero sixty nine seventy. Nine we have one more
segment to go here on the road to retirement With Trip,
limehouse and it gets underway right after.

Speaker 2 (39:53):
This, folks it's your turn to take the. Mic we're
diving into questions straight from our. Listeners let's get some
managers roll in.

Speaker 1 (40:06):
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

(40:27):
Limehouse financial eight hundred nine four zero sixty nine seventy,
nine eight hundred nine four oh sixty nine seventy.

Speaker 3 (40:37):
Nine back on the road the retirement With Trip limehouse
having a great cruise as we always, do you, know
just getting to. Retirement nice trip, today AND i love
the discussion that we had about really just kind of
some of the basic things that we need to know

(40:58):
and pretty much remind ourselves.

Speaker 4 (40:59):
Of.

Speaker 2 (41:00):
OH i think that that's part of our mission here
is to always be bringing to the forefront things that
sometimes get put on the back burner or maybe thought,
about talked, about but not enough or not at the right,
time if you, will you, know as an income and
a distribution planning, EXPERT i just love helping people with

(41:21):
the backside of, retirement showing them how to get there
and stay. There and Also jonathan, O'Reilly my investment, advisor
same for. Him, collectively we are just having fun helping.
PEOPLE i want to say hello to my longtime listeners out.
There you guys are, Fantastic thanks for hanging with. US
i always like to give a shout out to, you

(41:42):
AND i know that when the time is, right we'll
see you here in the office and build you the.
Plan and, folks if you're new to the show listening,
Today i'm so glad you landed upon The road To
retirement show With Limehouse. Financial you're in the right place
because it doesn't really matter where you. Are we're all
headed towards this wonderful thing at some point in time called,

(42:03):
retirement and we've got to do it the right. Way
so we're talking all things. Retirement great show, Today steve so,
far just talking about a lot of very practical and
helpful things that apply across the board to. Everyone SO
i like. THIS i always say, it BUT i like
this question and answer segment that we. Do it's a

(42:26):
lot of value behind it because people can ask a
question that maybe someone else wanted to ask but they
didn't call. In and, anyway, folks your questions, matter we
want to hear. Them eight hundred and nine four zero
six nine seven. Nine we're going to jump right in right.

Speaker 3 (42:40):
Now clyde is up first. Trip clyde's In orangeburg and he's.
Wondering he, Says i'm turning seventy three and looking at
my first required minimum distribution from a six hundred and
fifty thousand DOLLARS. Ira he says he doesn't need all
the money for living, expenses but he's worried about the tax.
Sit they manage our mds in a way that keeps

(43:02):
taxes lower while still meeting.

Speaker 2 (43:03):
Requirements, Hey, clyde Oh. Arnsburg MY i don't want to
say stomping ground BECAUSE i didn't grow up, there BUT
i was born. There, man what's your favorite barbecue? Place Whitman, Street.
Antley's there's some Of Dukes. Steve you might not know,
this but There's Duke's, barbecue and there's multiple, ones and
the one On. CLYDE i go to the one On Whitney,

(43:25):
street just for the, record AND i THINK i love.
It you, know i'd been been going. There it looks
the same as it did SINCE i can. Remember And
i'm fifty one, now so, yeah they still got the
gumball machine by the front. Door so, anyway and So,
CLYDE i don't, know you might know some of my
relatives down, there because that's a lot of family in
The arnsburg. Area but you know your dilemma that you're facing,

(43:47):
NOW i want to share with. You you're not the only.
One and something then you did not tell, me but
THAT i just am picking up on is that you
must have significant income coming, in perhaps Social, SECURITY i
would think that's a, given and then maybe a pension

(44:08):
or something like. That because what you shared with this
client is that you don't Need you said you don't
need all the money for living. Expenses maybe you need
some and quite, frankly that's a great position to be.
In that indicates to me that you're like most of
our clients with high portfolio balances that maintain independence and

(44:30):
are successful during retirement because they have saved so well
over the. Years so you, know approximately twenty four to
twenty five grand is what you're going to have to take.
Out that is a big. Chunk, Fortunately i'm not quite
sure if you're married or, not but if you are,
married the standard deduction for twenty twenty five is thirty thousand.
Dollars it comes right off the top of your. Income
so perhaps your required minimum distribution could be offset by

(44:55):
your standard deduction if you're, married that would be a nice.
Thing you, know, realistically there's no way for you to
get around THE r AND. D it is, required and
that's a reminder to all of us out there that
we have a partner in our retirement account with, us
whether we knew it or whether we didn't know, it

(45:18):
and that partner is the. Irs they're the ones that
set the, limits says to how much you can. Contribute
they tell you how old you have to be before
you take money, out and then they force you as
they're doing with You, clyde they force you to take
money out when you hit a certain, age which for
you is seventy. Three this is something that continues throughout.
Retirement it does not go, away and the requirements are

(45:43):
higher every. Year so you, know this reminds me of
a lady that we have as a. Client And, patricia,
hey you're probably listening ONLY i won't mention your last,
name BUT i know you listen every, Week so Hello.
Patricia she came in step and similar To, clyde you,
know no needed all for the use of THE r

(46:05):
AND d moneies that she was that she had to take.
Out and you, know her portfolio all right about a
million that's, uh you, know that's you, know forty thousand
dollars in a. Withdrawal, anyway What jonathan AND i were
able to show, Her, patricia how to do is to
reposition those. Dollars she had to pay taxes on, them
but reposition those dollars and do some long term care, planning,

(46:29):
Okay and she was very thankful that we were able
to do that because she didn't need those. Dollars you,
know she had a Retired Blue cross, employee you, know
she we helped her set up a personal pension. Plan
we set up a safe money, strategy professionally managing money for. Her, So,
clyde maybe you're similar To, patricia you, know maybe you
haven't done long term care, planning and this could be

(46:51):
a great way to position those those, dollars you, know
to to help protect, everything you. Know but the thing for,
her for, her As i'm thinking about, it is that
her money contin has continued to grow at such a
rate that you, know she's required to take the four percent,
out but she's earning about eight and a half nine
percent on her portfolio that we professionally managed for, her

(47:15):
and so you, know the balance keeps getting. Higher So,
clyde probably your balance is going to continue to get,
higher your requirement of distribution is going to continue to get.
Higher and as far as keeping taxes, lower wall still
taking THE r AND d s. Out it may be
a tough thing to. Accomplish, uh maybe we could look
at some you, know wroth conversions taxes are on sale

(47:35):
right now that potentially could benefit. You you also a
strategy for you if you're charitably, inclined you could utilize
what's called the q C d q C d Qualified
Charitable distribution and that's when you give directly from YOUR
ira to charitable organization and it counts towards YOUR R M.

(47:58):
D so that's that that is a tack that that
can help you potentially lower the taxes while meeting the.
Requirement but at the end of the, Day, CLYDE i
want you to come in come see. Us, okay let's
build you that written plan for retirement that we talk
about over and over. Again let me help you LIKE
i Did, patricia THAT i just mentioned to you that
client who is somewhat similar to.

Speaker 3 (48:18):
You all, right fair? Enough eight hundred ninety four zero
six ninety seven. One if you'd like to know, more
here's another. One it's From beth And. Fred they're In
newberry on The. Lake it says they own a paid
off family home worth about four hundred and fifty thousand,
dollars but are considering downsizing to a condo to cut maintenance.
Costs selling would free up, cash but could trigger capital gains.

(48:42):
Concerns what's the best way to evaluate the financial and
tax impact of selling versus staying? PUT i like that.

Speaker 2 (48:49):
Question that's a great. One, Well, Hey, Beth Hey, Fred,
oh good Old Lake murray up In. NEWBERRY i love,
it you. Guys maybe you're kind of closer to the
maybe Drear island or somewhere around and there that might
be a little, WELL i think maybe south of you
that's the right. Direction BUT i love the. Lake we
often talk about, it how we're on, it and you
can find me and my lovely, wife WHOM i love so,

(49:11):
much in our, dogs just cruising. Around so lots of nice,
houses you, know selling it family home almost a half
million dollars. Worth you, KNOW i can, understand you, know
wanting to cut, cost especially maintenance. Costs it's a lot
to deal. With if you're right there on the. Lake you,

(49:32):
know maybe you've got just the lawn maintenance, itself the
house maintenance itself at, all all can be. OVERWHELMING i
think that selling for you guys definitely could free up.
Cash you, know as far as capital, gains the limits
are are really high right, now SO i wouldn't see
you encountering capital gains by selling that primary. Residence so

(49:56):
you probably could just capture all of it and take
it and put a into something. New interestingly, enough we
talked on one of the segments today in the show
about you, know a financial advice that's been given for,
years and one of that was just path the, home
and then we talked about downsizing as. Well i've encourage
you to go back and listen to some of my

(50:17):
thoughts THAT i shared with our audience earlier about. Downsizing you,
know sometimes it can be in your best interest in
it can really work, well and then sometimes it, can you,
know not so much be the, case especially if you
go to that condo that you, mentioned and you, KNOW
i don't, KNOW i mean going to a, condo you

(50:38):
have association, fees management, fees whatever may. Be those could
offset what you're trying to. ACCOMPLISH i think at the
end of the, day it still does come down to
you just having a. Plan let's take a look at
maybe what you could do with that. MONEY i don't,
know the sky's a, limit but, no really set answer
here to a yes or a. No let's go through

(51:01):
and look at the financial and tax impact of selling versus.
Input let's do that. Together. Okay thanks for being a
caller today and for being a listener to The road
To Retirement show With Limehouse. Financial, folks we're having a
lot of fun helping. PEOPLE i encourage you to tune
in again next week for another great episode of The
road To Retirement show With Limehouse. Financial eight hundred nine

(51:23):
four zero six' nine seven nine is. Our number eight
hundred nine four zero six nine. Seven nine call in with,
your questions, your comments anything you might want to lay
on us and get on. Our calendar come see us.
RIGHT now i want to give the last offer of.
The day it's for the next ten callers in the next.
Ten minutes it's for a written plan for retirement built

(51:46):
by our team o certified. Financial professionals, it's individualizing customized just,
for You and i'm giving it to you at no cost.
Or obligation but you must be one of the next
ten callers. Right now eight hundred nine zero six nine.
Seven nine this is a written plan, for retirement individualized
and customized just. For you you cannot call and say

(52:09):
email it, to me send it. To, me folks you
must come in and go through our process to. Receive
this the next ten callers in the next ten minutes will.
Get it. It's. Yours hey we're thankful to be with
you on, the air and we look forward to spending
more time again with you. Next week tune in and,
Until then god. Bless you.

Speaker 5 (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 1 (52:44):
Of you you, GUTS well I hate.

Speaker 5 (52:49):
I'm one guy who ain't prejudiced against anybody who may
be leship pity.

Speaker 2 (52:54):
Than me it kind of sneaks up, on you.

Speaker 5 (52:56):
Doesn't it. Oh geez you deserve a secure or, independent
retirement our retirement that is prepared to handle pitfalls, like inflation,
health emergencies stock, market volatility. And taxation you've worked hard
for your money and will work just as hard to
protect it and. Grow it retirement planning doesn't have to.

(53:20):
Be difficult get the facts based approach that you deserve
all at, no cost with. No obligation Call the Road
To Retirements, trip limehouse eight hundred nine fours zero sixty
nine seventy nine or text trip to eight hundred nine
four zero six nine.

Speaker 1 (53:39):
Seventy nine information provided is for illustrated purposes only and
does not, constitute, investment tax or. Legal advice information has
been obtained from sources that are deemed to, be reliable
but their accuracy and completeness cannot. Be guaranteed Either trip
limehouse nor his guests are liable for the usage of.
Information discussed always consultable the, qualified, investment legal or tax
professional before taking.

Speaker 2 (53:58):
Any action