Road to Retirement 09-20-2025

Episode Transcript

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

Speaker 2 (00:08):
You could use the hurricane.

Speaker 1 (00:10):
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.

Speaker 3 (00:20):
I'll huff and I'll puff, and I'll blow your hou's down.

Speaker 1 (00:24):
Here are the questions. Do we have sandbag strategies in place?
Do we have a retirement house made of bricks instead
of straw or twigs and sticks? Is your retirement plan
designed to be strong and fortified even in the worst
case scenarios? Are strategies in place to build in growth, protection,
and income and help alleviate that fear of running out
of money in retirement? If your answers are no, then

(00:46):
you need a good retirement specialist on your side. Cull
Trip Limehouse of Limehouse Financial eight hundred ninety four oh
sixty nine seventy nine eight hundred nine four oh sixty
nine seventy nine. Information provided is for illustrated purposes only
and does not constitute investment, tax or legal advice. Information

(01:06):
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 (01:20):
Thinking you have a retirement plan is very different from
actually having one written down and working for you. When
we come back, we're going to outline some common retirement
planning myths and the risk of assumptions that could leave
your future under funded. As Donald Rumsfeld once said, there

(01:42):
are things we don't know that we don't know, and
when it comes to retirement, that couldn't be more true.

Speaker 1 (01:49):
Coming up next, do you want to avoid taking a
wrong turn on your retirement roads?

Speaker 2 (01:55):
The road to retirement is a long one, and if
you just don't want to make wrong.

Speaker 1 (01:59):
Bas well, buckle up. We're getting ready to take a
retirement road trip together.

Speaker 2 (02:05):
It's the road to retirement.

Speaker 1 (02:07):
With Trip Limehouse.

Speaker 2 (02:08):
It's the perfect amount to map it out. That road
to retirement is key, is key.

Speaker 1 (02:13):
To get on the road to financial security and independence.
Just like many of Trip's happy clients in retirement.

Speaker 2 (02:20):
Partners, my money is safe using the green line principle
that you taught me about.

Speaker 3 (02:25):
Thank you so much.

Speaker 1 (02:27):
Let's get this trip started. It's the road to retirement
with Trip Limehouse.

Speaker 3 (02:34):
Hey, welcome in, everybody. This is the road to retirement
with Trip Limehouse. He's guiding this behind the wheel today
is he is each and every week. He's been doing
that for better than twenty years, helping folks get to
and through retirement. You can learn more at limehousefinancial dot com.
That's Limehousefinancial dot com and again so much more high trip.
How are you good to see you? Always a pleasure.

Speaker 2 (02:56):
Yes, it's great to be with you, Steve likewise, and
of course great to be with our listening audience out there.
Welcome in, folks. If you're new to the show, we're
having fun talking about all things retirement, about how you
can get there stay there. Oh this is great. And
if you're a long time listener, I want you to
know I really appreciate it. Thanks for tuning in yet again.

(03:18):
So I don't know about assumptions, but you know what
we've heard about those.

Speaker 3 (03:21):
Right, I do know what we know about them.

Speaker 2 (03:24):
Yeah, there's plenty in my life I've made and you know,
somewhere okay, and most of them maybe not so. And
you know, when it comes to actually doing this thing
called retirement and doing it the right way, we definitely
don't want to assume that we're on track for retirement.

(03:45):
I mean, think about it. You know, we've got things
like a four to one k you know, Iraise Brokera's accounts,
you know, Wroth I Rays, some folks out there have pensions,
and then social Security, you know, one of these days
for people, and then the thought process is, well, I'm
gonna be okay, I must be covered. Well not exactly, Steve.

(04:09):
Let's let's just break down a few of the we'll
call them most common misconceptions that really I think could
derail a person's retirement if they're not careful. How about that?

Speaker 3 (04:22):
All right, So let's talk about someone that's a little
bit older and they say it's useless, it's too late
to start planning, there's no point.

Speaker 2 (04:29):
Hmmm, yeah, we hear that. Oh it's just too late,
it's just too late. Well, I would share with folks
that it really is never too late. I mean, ideally,
someone beginning to save in their twenties is the way
to go. But you know, people who are fifty or over,

(04:50):
you know, they can take advantage of savings as well.
As a matter of fact, there's this thing called catch
up contributions, and often say that they'll catch up with
someone later, because what we're talking about right now is
tax deferred retirement savings. And so why the reason I
say it'll catch up to you later is because you
if you're utilizing the catch up provision currently, then that

(05:14):
means that you know, you're you're deferring taxes till later.
And that often shocks people when actually they get to
retirement and are making withdrawals from these tax deferd accounts.
But catch up contributions really can help some people. I mean, Steve,
this is great in twenty twenty five. So if a
person is fifty or older, utilizing the catch up provisions,

(05:39):
a person can contribute up to thirty five hundred dollars
a year to a four to one K and that's
you know, due in part to the expanded IRS limits.
So you know, I mean, something like that really could
help propel someone to you know, the next level. On
the next level. I always say, just even a small

(05:59):
and recent savings, now I can have a you know,
a compounding effect you know, much later as time goes by.
I still I like the idea of people saving, but
you know, we engage in this conversation like how should
I where should I save? Really? And sometimes we say
utilize the catchup provision in the tax referral. And then

(06:23):
sometimes we'll say, you know what, just pay the taxes
currently because we're in a pretty favorable tax environment, and
then save the money elsewhere. But I think that, you
know what, I think the danger is with this when
we when we talk about that, you know what I
think the danger is for people?

Speaker 3 (06:39):
What's that.

Speaker 2 (06:40):
When people are saving in a tax refer retirement vehicle
like a four to one K or TSP or four
or three B or you know, I RA, they kind
of for the most part, not always, but for the
most part they're like, that's my do not touch money,
like it's for later, and and that's definitely true. But
if they're saving in something like a brokerage account, Okay,

(07:04):
so take take the thirty thousand, five hundred and a
four to one K. Yeah, if you're not fifty nine
and a half and you take money out of there,
you're going to be penalized ten percent and pay taxes
that's like you know, taboo, right, But if you have
money in a brokerage account that same thirty thousand, five
hundred and you're under fifty nine and a half and
you needed to, you could take money out of it

(07:24):
and you're not going to get a ten percent penalty,
and you may pay some taxes depending on if you've
had some capital gains or whatnot. But you know, the
tendency would be for people that have the second thing
I was talking about, the brokerage account, the tendency would
be for them to maybe utilize and drain those funds
even though they're quote earmarked unquote for retirement, you know

(07:46):
what I mean. So it's almost like people know that
if it's if it is a four to oh one,
oh that's for later. But if it's a brokerage account, okay,
I can use it now. So this would have to
be for somebody who's really disciplined. So folks, I'm just
encouraging you just to save whatever every way is going
to work the best for you, utilizing either before tax
or after tax. I just realized that with the before

(08:08):
tax catch up provisions that they could catch up to
you later. I just you know, I wanted to be
real clear about that. That's why I say the catchup
can catch up to you later. The reason I know
that is because we meet with people all the time,
and you know, on average, we're working with people that
have seven figure portfolios, and those folks, you know, when
they start taking a look at how much they have

(08:29):
to take out or they start utilizing those dollars, they're like, wow,
I've been paying a lot of tax right now. And
of course you are, you know, two million dollars in
tax deferred vehicle and you have to take out four
percent for requirementum distribution. You're taking out eighty grand whether
you want it, don't want it, whatever, And of course
that's going to bump you up into the next tax bracket.

(08:50):
And I think that's a great thing. I think that's
a great problem to have. But the bottom line on
being too late to start planning, folks, is that it's
never too late. Okay, just start doing it now. What
about what about healthcare? That's a huge health.

Speaker 3 (09:03):
Care is a I mean, that's something that it's I mean, again,
I think it's everyone's a certainly major concern and needs
to be discussed. But hey, good news is Medicare is there,
takes care of everything, not a problem.

Speaker 2 (09:17):
Well, that we're talking about another assumption that people have, Oh,
I'll just get on Medicare, It'll just take care of everything.
Oh you know, yeah, I'll walk.

Speaker 3 (09:23):
Into Medicare is great certainly for a lot of things,
but not everything.

Speaker 2 (09:27):
Yeah, I mean people are oh, I'll walk in the door,
I'll walk out the door. Well, let's just not assume that, folks.
I mean, we're talking about assumptions that could really derail
your retirement. And this is another one that Medicare is
going to cover all your health care costs. I just
want you to think again, because you know, a twenty
twenty four estimate from Health View Services projects a sixty

(09:55):
five year old couple retiring this year, we'll spend over
six hundred and seventy nine thousand dollars in lifetime healthcare
cost even with Medicare and supplemental insurance.

Speaker 4 (10:10):
Wow.

Speaker 3 (10:11):
That's I mean, those are big numbers, trip, and that's
obviously very realistic. And I think as we begin to
really map out our retirement, when you're thinking about thirty years,
that seems like a pretty fair amount that's going to
be spread out over that time.

Speaker 2 (10:25):
Heck, yeah it is. Well, when we open up today,
we talked about the importance of having a written plan,
and folks, we emphasize that all the time, constantly, because
that's what you need to get you too and through retirement,
and that written plan it needs to account for these

(10:45):
out of pocket health care cost or you could be
in for an expensive surprise. So yeah, we want to
help you avoid that. I mean, we talk about all
the time. Our job is to help you avoid wrong
turns on the road retirement that lead to dead ends.
Eight hundred nine four zero six' nine seven nine is our.

(11:06):
Number call in with your, questions your, comments call in
to make an. Appointment also visit us on the web
at limehouse financial dot. Com all, right back to these, Assumptions,
steve what about people who, think, oh my spouse is
just gonna inherit.

Speaker 3 (11:20):
Everything, well, SEE i think that IS i, mean that's
a pretty logical. Assumption you, Know, hey well we're. Married
you know IF i, go she gets. Everything not a,
problem not that.

Speaker 2 (11:31):
Simple it's just not an automatic. THING i mean there's
a lot of poor planning that happens out. THERE a
lot of times a parent will not have a will
or a trust or a proper beneficiary designation and assets
might not pass as you or your partner would. Expect
so what we do is experts is ensure that your
intentions are legally documented and protected so that doesn't happen

(11:53):
to your. Family but don't just assume that an inheritance
is going to fund this long journey called. Retirement, Folks
i've got an offer for the next ten callers in
the next ten. Minutes it's for a written plan for
retirement built by our team of certified financial, professionals no
cost or. Obligation you must be one of the next

(12:14):
ten callers right now eight hundred nine four zero six
nine seven, nine and you will receive a no cost
or obligation written plan for retirement built by our team
of certified financial professionals at no cost or. Obligation And,
folks this is not something that you can just call and,
say email me or mail. Me you must come in

(12:36):
go through our process to receive. This give us a.

Speaker 3 (12:39):
Call sounds, fantastic, Trip do give us a call while
you're thinking of. It it's eight hundred ninety four zero
six nine seven. Nine eight hundred nine four zero sixty
nine seventy, nine no, cost no obligation to help you
get a better handle on your financial. Situation you can
find out what your investments are really costing you because
of high fees or. Commissions you'll dig into what tax

(13:00):
implications can be down the, line and how much income
you can securely generate from that once you do move into,
retirement call us right now while you're thinking of. It
eight hundred nine four zero six nine seven. Nine that's
eight hundred nine to four zero sixty nine seventy. Nine
quick break back with lots more on the road to
retirement With Trip limehouse right after.

Speaker 2 (13:18):
This, folks we've been talking about you having a retirement,
plan a written. Plan we've been talking about not making
assumptions that could leave your future. Underfunded we're going to
continue right on with that coming up.

Speaker 3 (13:34):
Next, Oh i'm glad you're. Here i'm not sure how
long it's been, leaking what it's. Like it's been leaking
for quite a. While lucky you call this.

Speaker 2 (13:47):
One you.

Speaker 3 (13:48):
DID i hope you can fix. It IF i only knew.

Speaker 1 (13:51):
Sooner find the leaks in your retirement plan before you
end up.

Speaker 5 (13:56):
Underwater make sure your retirement plan is above. Water Trip
limehouse and the team At Limehouse financial eight hundred ninety
four oh six nine seven nine eight hundred nine four
oh six ninety seven Nine proudly Serving Soda.

Speaker 4 (14:09):
City, so Mister, JOHNSON i understand you have questions about
the report we provided.

Speaker 2 (14:14):
You, WELL i do. Lots ACTUALLY i don't.

Speaker 4 (14:18):
Understand ilis love that it's leather bound really.

Speaker 1 (14:22):
After information about?

Speaker 3 (14:23):
Me i'm concerned That i'm not sure.

Speaker 4 (14:25):
You think that the gold tassels were a nice.

Speaker 1 (14:27):
Touch how about the, Calligraphy, well it doesn't really say
anything about my retirement.

Speaker 3 (14:32):
SPECIFICALLY i, mean how about the custom.

Speaker 4 (14:34):
Illustrations, look here's you a first looking all, sad and
here's you after meeting with, us, happy happy.

Speaker 2 (14:42):
Happy WELL i WISH i.

Speaker 3 (14:44):
WAS i don't need all This roman.

Speaker 1 (14:46):
NUMERALS i, mean what IS, mxxv.

Speaker 4 (14:49):
Mister, johnson that's page oneenty twenty.

Speaker 6 (14:52):
Five do you want to retirement? Report that just looks?
Nice what do you want to sid a ax will
plan built specifically for You Trip limehouse and their team
At Limehouse financial focus on, strategies talenting your best, interest
strategies designed great their Retirement you've always, envisioned schedule your
consultation now by calling eight hundred nine oh sixty nine seventy,

(15:16):
nine eight hundred nine four oh six' nine.

Speaker 3 (15:19):
Seven nine we're back on the road to retirement With.
TRIP limehouse a nice drive on, the way and we
here really clearing some, things up answering, some questions talking
ABOUT assumptions i think that a lot of us have
had over, the years and it's just sort of a
nice to get sort of reminded that things are not

(15:42):
not always as smooth as, they, Seem, RIGHT yeah i
mean we ended the last one talking about My spouse
will just. Inherit everything that whole estate planning piece is
such an important part of the retirement puzzle and again
something that, you guys you guys spend some.

Speaker 2 (15:56):
Time with we always check in with people on the
estate planning and we offer state planning Here At. Limehouse
financial we're very clear we're. Not attorneys we don't give,
legal advice we're, not CPA's we don't give. Tax advice
but you know what as experts and income and distribution
planning is, as planners we talk about all that and
we make sure that you are up to speed on

(16:17):
what you need to, be doing and we also have,
you know ways where we show you how we can
help you accomplish. Those goals but that was a. Big one,
you know people thinking that their a spouse will just
inherit everything and that'll carry them. THROUGH retirement, i mean
sometimes it can work out. That way we just brought
on a client recently and they had a. HUGE inheritance
i mean it was high seven figures and It made

(16:39):
they were, already clients but this really made, a big
big difference on what they were going to do from this,
point forward, you know and legacy planning that we started doing.
With them but, you know just as, a backtrack in
the first, segment today we're talking about don't. Make assumptions
so we talked about how it's never too late to.
Start planning we also talked about how we don't want

(16:59):
to Assume that medicare is going to cover all your.
Healthcare costs and, you know how about, this one let's
get into, you know catching. Up later how about this, So.

Speaker 3 (17:11):
Well so in, other words life comes at us fast,
and Furious right sometimes obviously we don't see. What's happening
maybe we've made a decision we're going to stop saving for,
you know stop saving right now and we'll get back.
To it no. Big, Deal yeah i'll just. Make, up
yeah we'll just make up.

Speaker 4 (17:25):
For.

Speaker 3 (17:25):
That yeah easier said, than done it.

Speaker 2 (17:28):
SURE is, i mean think about how quickly. TIME passes
i mean in waiting for a better job or. MARKET
upswing i think it's just like rolling. The dice it.
Really is it's. A gamble i. DON'T know i think
time is the key ingredient in. COMPOUNDING returns, i mean,
for example just putting away five hundred bucks a month

(17:50):
at a very young age of, thirty five that can
grow to, you know four hundred and seventy thousand dollars by.
Sixty five but if the same person were to wait well,
forty five that drops around two hundred and forty, Thousand
dollars so, you know cuts in. A half so procrastination
costs more more than, you, think folks it. Really does and,

(18:13):
you know we just we we want to take a
look at where we. Are currently we want to have
the forethought, of yeah this IS where i want, to
GO where i want to, end up and we want
to map it all out in a very. METHODICAL manner,
i mean as an expert in, these areas. You know
this IS what. I do this is what my, Investment

(18:34):
advisor jonathan, O'Reilly does is we help you to understand
this is what it's going, to take, you know how
to put all. THIS together i got a, caller recently
and this was a gentleman that had been listening to
the show for for a. LONG time i haven't seen.
Him yet he got on, our calendar but what he
said to ME when i talked with him was it's
just time for me to get serious about all this

(18:54):
retirement planning STUFF and u and, you know he kind
of was falling in that categ Glory of i'll just catch.
Up LATER but i committed him for just calling and
making an appointment, with us because now we're going to be,
able to, you know if you will get him back,
on track see where, he is and then get him
back on track for a. Successful, future folks that could
be you. Don't procrastinate eight hundred nine four zero six nine,

(19:21):
Seven nine get on, our calendar come spend some time.
With us it's always no cause. For obligation we're here
to help. You, Out, hey steve something we haven't brought
up this this episode yet is a safe money strategy
that people need to really really be. Looking at let's
talk about that for. A, minute.

Speaker 3 (19:36):
Sure that's the green. Line principle that is, your CREATION.

Speaker 2 (19:40):
The glp green. Line, principle yeah it's a, you know
people often say. A trip i hear you talk about
the green line all. The time what? Is, it, well
folks pay. Close attention it's a safe money strategy where
zero is, your hero meaning you can never lose any of,
your money and you have a lot of. Upside potential

(20:02):
and just because you're getting one hundred percent safety does
not mean that you don't have a lot of upside
potential turn a great. Interest, rate okay everyone needs a safe.
Money strategy you may be out there now wondering what
can you do to protect a part of what you
have saved so it'll never. Go away you'll always have
it and you can have access to it as needed,

(20:24):
over time or maybe even utilize it to create a
personal pension plan and give you income that you can.
Never outlive just just ask us about the green. Line
principle everybody needs to have that as a part of. Their, Plan,
sometimes steve, people say, you, know well how MUCH should
i do and how MUCH should i have in a safe,
money strategy and the answer is everybody's a little. Bit

(20:45):
different it depends on your. Risk tolerance, you know we
professionally manage money Here At, limehouse financial so we have,
you know a wide array of portfolios that we'll work
into a person's plan depending on their goals. And objectives
but one things, for sure every plan that we build
has that safe money strategy. In it and there's the reason.

(21:05):
BEHIND that, i, mean folks we need to have money
that's in a place where we can. Never lose we
can't control, the market And everybody i've ever asked this
question to you. Said no and the question is do
you want the stock market to control the direction of
your journey on the road? To retirement and everyone has.
Said no so if you fall in that category and

(21:26):
you don't currently have a safe, money strategy give me
a call eight hundred nine four zero six nine seven
nine and just ask us about the green. Line principle,
all right back to the assumptions that you need to
avoid so that. You're retirement this is a pretty.

Speaker 3 (21:43):
Common, ONE well i mean NOT get i think one
of the more common ones too that we're talking about here,
Is well i'm not gonna need as much MONEY when. I, retire.

Speaker 2 (21:51):
Yeah that's a. Big, ONE well i mean and for
some people that can be, you know an. Accurate scenario
that's that's why before we build answer, for people we
go through our budgeting worksheet with them and we understand
what their their current, expenses are and then we talk
about what are their anticipated retirement. Living expenses but there's

(22:12):
things that often, get overlooked such as. Lifestyle goals. YOU
know i mean it's really easy, to, say, Oh well
i'm going to retire and it only, costs me, you
know twenty six hundred dollars a month. To, Live okay
well are you going to be able to, you know
travel or do, fun things or, you know give contributions to,
your church or, you know help an adult child if they,

(22:37):
you know something were happening in, the background they. NEED help,
i mean, YOU know i get how people just minimize.
That number but what we See At, limehouse Financial when,
jonathan O'Reilly my, investment ADVISOR and i sit down, with
people we see that that typically the number is much
greater than a. Person thinks so, YOU know i mean

(22:57):
it could go the other, Way too it could be totally.
Really low but our observation is that people who we
help retire often spend more than they thought they were going.
To spend and it could be, you know travel. Home
renovations and then we had the factory. INFLATION too, i
mean your dollars are losing purchasing power. Over time, and

(23:19):
folks if you do not have a written plan that
accounts for, rising costs, you know you may run out
of gas on this. Long journey so we want to
make sure that that never happens. To you and speaking,
of that, SOMETHING else i want to make sure that
never happens. To you is you choosing the wrong social.

(23:40):
Security strategy that's, something see that's a bad assumption that
social security will cover.

Speaker 3 (23:45):
Me, Sure well AND again i think. IT'S easy i mean, we,
THINK well i can take take it as early as.
Sixty TWO maybe. I should, i mean that is such
a big decision and one that shouldn't be, taken lightly
and one that certainly shouldn't be, tackled alone in.

Speaker 2 (23:59):
My, opinion no if for a, married couple there's thousands
of filing. Combination strategies for if, you're single there's. One
hundreds ask us about The social security roadmap that's when
we learn about where, you are we make a professional
expert recommendation on when is the best time for you
to File For. Social security but the bottom Line On
social security is it's not designed to be your. Only income,

(24:22):
in fact the average monthly benefit in twenty twenty five
is only around. Nineteen hundred and, you know we got
take into account projections that Show The trust Fund Of
social security probably are going to face a short fall
by the year twenty. Thirty, three folks we're having fun.
Helping people that's what we do Here At. Limehouse financial
we want to, help you so pay attention to this

(24:42):
next offer is for the next ten callers in the next.
Ten minutes it's for a written plan for retirement built
by our team of certified financial professionals for no cost
or no obligation. For you so if you're one of
the next, ten callers we'll provide this. To you, it's
individualizing co customize just. For, you now you can't just
call in and say mail that to me or email that.

(25:04):
Tom me you must come in go through our process
to receive this no cost or obligation written plan for
retirement built by our team certified financial professionals just, for.

Speaker 3 (25:14):
You and it's just a phone. Call away it's eight
hundred ninety four zero six nine. Seven nine it's just.
That simple it's an opportunity to, sit down get a
financial roadmap. Put together trip and the team are therefore
you to take that complex financial world and turn it
into something that really just. Makes sense it's your chance
to get a true practical. Financial review so if you're listening,
right now call us eight hundred nine four zero six nine.

(25:37):
Seven nine You heard. Trip ten callers, right now get
the comprehensive. Financial review you see where you. Are today but,
more importantly it becomes a roadmap that can help get
you to where you need. To be, in short you've
got nothing. To lose call right away eight hundred nine
four zero sixty nine seventy nine eight hundred nine four
zero six nine. Seven nine oh quick break. For us

(25:58):
we're going to. Come back we've got lots more to
discussion on the road. To Retirement What.

Speaker 2 (26:02):
Trip limehouse you've been planning your retirement, for decades setting
timelines and building that, nest egg and then, life happens
a sudden layoff, of healthcare scare or, family's situation an
unplanned early retirement can throw a wrench into even the most. Thoughtful,

(26:22):
Plan folks how can you pivot with confidence when retirement
comes before. You're ready that's what we're unpacking right.

Speaker 7 (26:32):
After this, in life there are. Defining moments you may kiss, the.

Speaker 2 (26:42):
Bride you got, a.

Speaker 7 (26:43):
Job buddy retirement is one of those, stand out. Exhilarating
times hard pay em seize. The day meet at no
cost with our local independent team who are here to
help coach you along this journey Called trip Limehouse With
limehouse financial eight hundred nine four zero six nine. Seven

(27:03):
nine that's eight hundred nine four zero six nine.

Speaker 1 (27:06):
SEVEN nine a couple of stories about old, money here
but not in the traditional sense of. Old money, first
off in nineteen, Sixty Five Andre, francois refray, a lawyer
made a deal with ninety Year Old. Jeen kalman she
was ninety in nineteen. Sixty five he said he would

(27:28):
pay her rent twenty five hundred francs that's about six
thirty in today's dollars every month until. Her death he
would then keep the Apartment in france once she. Died
well kalman went on To. Outlive refray he died in
nineteen ninety six at the age of. Seventy seven kalman
died one year later at the age of one hundred,
twenty two making her the oldest person to have ever.

(27:51):
Lived now According To The New, York times referey paid
a total of one hundred and eighty thousand it's a
round two hundred eighty two ninety in today's dollars for
an apartment he n never. Lived in after, his death
his family was legally required to continue Paying for, kalaman's
apartment which was about. A year she died a year
later at one hundred. Twenty two Next up tokyo and.

(28:13):
Twenty ten when Officials in tokyo went to congratulate one
hundred eleven Year Old sojoan kato on being the city's oldest,
man alive they were turned away by his eighty one year.
Old daughter after welfare officials were denied a visit, several
times they became suspicious and asked the police. To investigate
they Soon discovered kato's, mummified body wearing underwear, and pajamas

(28:37):
lying in bed covered with. A blanket kanto had been
dead for almost. Thirty years his daughter had hidden his
death and collected one hundred six thousand dollars in Pension
payments for funny and, Old Money I'm.

Speaker 2 (28:56):
Dave perkins.

Speaker 3 (29:04):
Welcome. Back everybody the road you, retirement Continues And trip
linehouse is here guiding us along. The way you see
us each and. Every week been helping folks for better than.
Twenty years and between He, and jonathan his, investment advisor
they really help you get going and. Get there and
this is what we're going to talk about, Right here
trip when retirement, chooses us whether than us, Choosing retirement

(29:25):
and that's a situation that you probably face a time.
Or Two, RIGHT trip a lot.

Speaker 2 (29:29):
Of folks come in and they've just suddenly been replaced
by a younger worker who maybe as working for half
of what they were. BEING paid a lot of that's
been happening with the whole. Doge thing we see a
lot in the. FEDERAL government i, don't know their companies

(29:51):
are doing things different and they're not necessarily treating people
as they. Used to so as, a result sometimes retirement
is using a person versus a person. Choosing, retirement sure and,
YOU know i. Don't know it could be a lot,
of things could be, corporate downsizing could be a, medical
diagnosis it could just be, you know life's, unexpected terms

(30:16):
and that can cause someone to. Feel disoriented it can
cause someone to, you know maybe take unnecessary. Financial risks,
you know maybe they don't know how to. Replace income
they have retirement accounts and they don't know which ones,
to utilize and folks on, THAT subject i want to

(30:36):
share with you that there's a big difference between a
retirement an account and a. Retirement plan an account is
where money, is located and that's a. Good thing but
a plan is what gets you to and, through retirement
and everyone. Needs one so we're going to just talk
about how, to reassess, re evaluate and maybe even reinvigorate

(30:59):
your porfolio and your purpose when retirement. Comes early so
let's just dive right in and let's talk about assessing the.
FINANCIAL impact i think that probably be a. First step
what do, You, think, oh.

Speaker 3 (31:12):
Well yeah because you got to, figure out, all right what,
happens now so my paycheck, unexpectedly stops HOW am i
going to? Recreate that Especially if i'm a little. Bit
OLDER and, i mean, you know you. Said it age
discrimination is certainly alive and well for those, you know
for those of us. OVER sixty i mean it's it's just. A, fact.

Speaker 2 (31:29):
Yeah when the when the money, STOPS work, i mean
when the person, stops working the money has. To work
and as an income and a distribution planning expert to
Myself and, jonathan O'Reilly my, investment advisor that's what we
do is we put all this together, for you so.
Don't worry you're in the. Right place if this, is,
you folks by, the way if this, is you if

(31:50):
you've if retirement has, chosen you and you haven't chosen
retirement and you're just not sure what, to do how to,
do it and you want, to know give us a
call right right now eight hundred nine four zero six
nine seven Nine limehouse financial. Dot com get on our
calendar so we can, Help. YOU okay i mean nobody
likes to nobody likes to dwell on these worst. CASE

(32:13):
scenarios i, sure don't, you know but really walking through
the numbers with an expert it can be. Surprisingly empowering and,
you know we do a lot of we check out
a lot of surveys and, research stuff but this is pretty.
Interesting one according To The Employee Benefit research institute also

(32:36):
KNOWN as herbie nearly forty eight percent of retirees say
they left the workforce earlier than. They, planned wow that's a,
big number Trip, Per, yeah yeah it's huge just because
of healthcare and primarily due to the health concerns or a.

(32:57):
Company changing we see a lot of people that we
bring on as clients and they just tell us my
companies leadership change and, management Change that i'm doing the
job of three people. Right now nobody's listening. To me the,
you know the the, younger workforce the ethic isn't like it.
SHOULD be, i mean all kinds. Of stuff, but yeah

(33:18):
basically that's nearly half of all retirees are dealing with.
The UNEXPECTED so i GUESS what i want to talk
to our listeners about is, you know how they can
get clear on their?

Speaker 1 (33:32):
New?

Speaker 2 (33:32):
Baseline uh and and what does? That involve WHAT am
i talking? About now i'm Talking about let's let's let's
review your. Income, streams okay let's take a look at
your fixed expenses, and uh let's let's, carve out if,
you will some new categories like healthcare or long term

(33:57):
care needs and. Lifestyle goals let's put all that together
for you and and once. That's done once we assess the,
financial impact, allow us if, you will to figure out,
for you on, your behalf what your retirement success rate. Will,

(34:19):
be okay, because folks that's really what it comes, down
to is what is your retirement? Success? Rate okay and
if you want to know what, it is just. Call
us we'll get you in, the office learn more, about
you and we'll build you a written plan for retirement
to demonstrate to you what. It is and you, know

(34:40):
what if it's not, high enough if it doesn't mean,
the benchmark we're going, to say you, know what you
may have been forced into retirement and it's not a.
Good thing and when we assess the financial impact, of
that you're gonna have to go back to work part
time or something. Like that or we may be you
may be surprised and your retirement success rate may be

(35:02):
high enough to where, we, say hey this, is great
this is great that you got, laid off this is
great that. You quit, you know so let's just take
the wondering out, of. It folks eight hundred and nine
four zero six nine. Seven nine and you need to
talk about This as i'm thinking about, it too because
for a lot Of people. Steve healthcare you Know before

(35:23):
medicare is just a huge thing and they're not quite
sure how to tackle, it.

Speaker 3 (35:27):
Well especially if you get laid off or something happens
and you're forced to retire before. SIXTY five, i mean
what do we do trip that's a big gap.

Speaker 2 (35:34):
To fill it is one of the biggest financial gaps
in early retirement. Is healthcare here's how, it. Works folks
if you retire before age, Sixty five medicare is not
available yet unless you're, on disability and private insurance can be.
Very costly as, an example a, cobra policy so if you,

(35:55):
quit working you can take your health insurance with you
for a period. Of time that's. Called cobra it can
bridge the, gap temporarily but it often runs up to
above one hundred percent of the original premium and that's
never a. Good. Thing, now alternatively though policies made available

(36:16):
Through The Affordable care act otherwise Known, as obamacare they
can offer some income based subsidies depending on your. Gross
income so or now this is this could be a.
Possibility too if your spouse is, still working their employer
sponsored coverage could be a life, and also if you think,

(36:36):
about it a. Budget saver so what's the smartest way
to plug that healthcare gap without draining. RETIREMENT savings i
think just having, you know the advice of an expert,
like myself like my, Investment advisor jonathan O'Reilly to help
you understand here's the best way for you to do
healthcare until You. Hit medicare, and then by, the way

(36:57):
when You, hit medicare, you know we're poised to help
you with the, right selection whether It's a medicare advantaged
plan Or a medicare. SUPPLEMENT plan, i mean that's one
of the things we do Here At limehouse financial is
where holistic planners we're helping you with all your needs
relating to. Retirement planning and by, the, way folks if

(37:18):
you weren't aware, of this we're doing it from a,
fiduciar capacity only making recommendations in your, Best interest so
you know this could be a. Big thing is just understanding?
Understanding healthcare how about this stretching a retirement nest? Egg
further how about that stretching.

Speaker 3 (37:38):
Something, further WELL that's, i mean if you find yourself
in a situation where you know you're retired earlier than,
you thought you got to learn how to. Stretch that
that's where the flexibility in the plan.

Speaker 2 (37:47):
Comes, in yeah we're talking about, unexpected retirement maybe people forced.
In retirement so let's say that your timeline suddenly shifts
and you need retirement savings to last not twenty five
years but. Thirty, years well a five year difference might
not sound like, a lot but it could mean tens
or even hundreds of thousands of dollars in addition to withdrawals.

(38:09):
Over time so could minor, lifestyle, adjustments downsizing reducing, discretionary
spending or even relocating make your savings go. THE distance i,
don't know or should we be thinking about Ways to
boo's income now while we? STILL can i, don't, Know
FOLKS but i tell. You what this is the type
of thing that we do Here At. Limehouse financial we
sit down, with you get to, know you to show

(38:30):
you how to get there and stay there and. Be
successful for the next, ten callers in the next, ten
minutes we're going to offer a no cost, for obligation
written plan, for retirement built by our team of certified,
financial professionals at no cost for obligation. To you you
must be one of the next ten callers in the next.
Ten minutes we will not just send this in the
mail or email it. To you you must, come in

(38:51):
go through, our process sit down. With us allow us to, help.
You folks allow us to give you this written plan,
for retirement built by our team of certified, financial professionals
at no cost. Or obligation next ten callers in the next.
Ten minutes eight hundred nine four zero six nine. Seven nine.

Speaker 3 (39:09):
It's advice like that that shows you just how important
it is to meet with a financial Coach like trip
b somebody who truly understands the ins and outs of the.
Financial world we invite you to take advantage of this
opportunity to make sure that you are on the. Right
path that path is based on your, risk preferences, your
budget and, of course. Your goals eight hundred nine four
zero six nine, seven nine eight hundred nine four zero

(39:32):
sixty nine. Seventy nine quick break back with one more
segment here on the road to Retirement With trip.

Speaker 2 (39:37):
Limehouse from your inbox to. Our airwaves let's tackle the
questions you've been waiting to hear about coming up, right.

Speaker 1 (39:45):
Now, losing sleep worrying about your retirement savings and. Market
volatility you've earned, your Money And trip limehouse will work
tirelessly to protect and. Grow it cost personalized review starts
with listening to you and results in, a clear actionable.

(40:05):
Ridden plan start sleeping. Easier Tonight Call Trip Limehouse limehouse
financial eight hundred nine four zero sixty nine, seventy nine
eight hundred nine four oh sixty nine. Seventy, nine hey.

Speaker 3 (40:25):
Welcome back another segment to go here On the road
to Retirement With. Trip, limehouse oh we've had a nice,
ride today smooth smooth on the road and getting closer,
to retirement getting excited along. The way trip's there to help,
us certainly, you know with the green, line principle helping
us again save. Money, strategy.

Speaker 2 (40:46):
Yep you're. Making me you're getting me really excited bringing.
THAT up i don't know about anybody else, out there,
BUT yeah i appreciate, you just, you know dropping that
IN because, i forget we get so we get so
wound up and we're revved up rolling down. THE road
i forget sometimes you bring up things and here. You
GO but, i think just, REAL quick i got to
talk about it since she brought. It up but the

(41:06):
green line principle is a safe. Money, strategy folks zero is.
Your hero you cannot lose any of. Your money a
lot of. Upside potential call us eight hundred nine four
zero six nine seven nine and ask us how to
preserve and protect the money that you've already worked so.
Hard for everybody needs a safe. MONEY strategy i also

(41:27):
think everybody needs a best friend and an incredible person in.
THEIR life i got a shout out, To. MINE amy
i love you so much. Once again i'm having so
much fun doing life. With you thanks for always supporting
me and carrying me and providing. FOR me i love you, So,
Much honey you're the. Best ever i'm So thankful god

(41:48):
put us together all those. YEARS ago i always like
to brag, about her and and, you know she listens to.
The show she's my, biggest fan and she occasionally she
will get a. Little hurt she she'll turn a, little
red she'll blush a little bit when she hears me talk.
About her, i'm, Like, OH kanyie i gotta let, everybody
know and let. You know, most importantly let you know
HOW much i. Love YOU so. I do you're. The best,

(42:10):
So listeners you guys are really important. To us and
when you take the time to, call in we, you
know we want to take the time to answer. Your
questions and so that's what this segment. Is ABOUT and
i think we should just kind of get right. Into
IT and i LOVE the i ALWAYS say i love
the listener questions Because what I've learned steve is that

(42:34):
somebody will want to, know something but they might, not
ask and then they might have someone in their peer
group that'll ask the question and it'll answer the other.
Person's question that happens so much on. This show, so
folks make sure you keep sending us those emails and with,
your questions keep calling in eight hundred nine four zero
six nine. Seventy Nine, and keith, you know let's just

(42:57):
do what we do help you to avoid. Long turns
so let's let's do that.

Speaker 3 (43:02):
Right, now sure Jumping in, nicholas's first He's. In colombia
he's got about eight hundred thousand dollars spread across or
traditional ira and a four to OH. One k but
he's starting to worry about how much taxes will eat
into the withdrawals once our mds. Kick in is there
a smart way to start shifting.

Speaker 2 (43:22):
Some of that?

Speaker 3 (43:23):
Money now to reduce their future tax burden without triggering
a huge tax.

Speaker 2 (43:27):
Bill, Today, hey nicholas we call that the tax efficient.
Retirement plan everybody needs a tax efficient. Retirement plan and
you know this question is just so like revolves. Around that,
you Know what i've seen is that people who are
contributing to, retirement accounts they just don't really think about

(43:52):
the taxes later on now and then when they come
in to, see us, you know that's when it. COMES
up i want to commend you for having the forethought.
About that this is a. GOOD thing i also want
to Tell you i'm proud of your first been in
an eight Hundred grand, you know you really are like
most people that we work with as, high uh, you

(44:12):
know high. Balance portfolios so what can we do to
help you reduce your future tax burden and not trigger
a huge. Bill, today well we can strategically do things
like wroth conversions over a period. Of time and right
now taxes are, on, sale uh and this could be
a great time for you to start doing some. Roth
conversions but before we would ever, do that we would

(44:34):
DO The rca wroth. Conversion analysis we would take into account,
other income, you have, other assets. You have i'm in
the big picture planning is what we're doing Here At.
Limehouse financial and it may be that sometimes just a,
lump sum, you know paying taxes now could be the
best or it may be like, you know spreading it
out over a period. Of time and what happens is

(44:56):
the money comes out of THE, traditional ira the tax
are paid at, today's rates and then they go into
A roth ira where they grow. Tax free you can
withdraw money tax free and you can pass it on.
Tax free so that would be one of the strategies
that we could talk about with you as far as
going into a higher. Tax bracket sometimes when we help

(45:18):
our clients with these, roth conversions they do move temporarily
into a higher, tax bracket but we talk with them
through that process and we back it, up, with hey here's.
The facts doing this will benefit you. Long Term, so
nicholas come on in and see us and let's just
help you. With this build you that written plan for
retirement that we always. Talk. About folks everybody needs a

(45:39):
tax efficient, retirement plan.

Speaker 3 (45:42):
And trips a guy that can help make that happen.
For you eight hundred ninety four zero six nine. Seven
nine here, We go jenny as. In normal she says
she retired five years ago with a solid, nest egg but,
rising prices especially, on, food gas, and insurance are starting
to strain her six thousand dollars. Month budget what's a
good way to adjust a plan so that you can

(46:03):
keep up with inflation without cutting too deeply into lifestyle or.

Speaker 2 (46:08):
Your? Portfolio, wow great. Great question, YOU know i love
the fact that you're confident about your solid. Nest egg
throughout the, show today we're talking about not making assumptions
that can cause your retirement to. Be underfunded we were
talking about misconceptions and and you, know so so if

(46:31):
you didn't have a chance to listen to the rest of,
The show i'd encourage you to go Back to iHeartRadio or, You, Know,
Spotify google apple wherever and pull Up the Road to.
Retirement podcast we turned the show into a podcast for that,
very reason because we talked a lot about that so.
Far today but, YOU know i think you're not alone

(46:52):
when you feel your budget starting. To strain, you Know
it's i'm not quite sure where what you may have
saved or not. Have saved sometimes it's just adjusting a,
withdrawal strategy, you know sometimes there's things LIKE on i
wouldn't say, necessarily Extreme but i'd say it's on kind
of moving that direction strategy that someone might do if

(47:17):
they don't have, a mortgage perhaps they're doing a, reverse
mortgage which can be a wonderful. PLANNING tool i know
there's a lot of negativity that people think and feel,
about THOSE and i, GET it i. Understand it but you,
know what if you don't have any if you don't
have a mortgage and a lot of equity in your
house and your budget's, getting strained then this is just

(47:37):
one thing that you could do to. Help, Out okay
so that's something that comes, to mind, you know really
getting into that budget and looking at where your money.
Is going visit limehousefinancial. Dot com limehouse financial dot com
under the resources tab there's a cash, flow worksheet, budget

(47:59):
worksheet very. In depth, you know perhaps just go back
look at. Your spending maybe there's some things that you
can eliminate or cut, down on. You know AND then
i mean there is a thing of just, you know part.
Time work sometimes people are just going back, to work
finding something that they really like and and engaging in
it just to kind of meet meet, you know ends if.

(48:20):
You WILL so i hope you're not struggling to the
point of having to. Do that but if, you are you're.
Not alone. You know let's look at also your portfolio
and how. It's structured we do what's called the Portfolio. Observation,
report folks a lot of you out there don't know
what's in. Your portfolio you don't know how. It's performing
you don't know what fees are associated. WITH it, i
mean fees can erod it a. Portfolio immensely, you know

(48:44):
maybe your portfolio isn't, Invested appropriately maybe you're, too conservative.
Too aggressive it could be. Either way ask us About
The Portfolio. Observation report we do everything from a, fiduciary
capacity only making recommendations in your. Best interest so, for
you if your budget is starting to be strained and
we were to look at, your portfolio maybe, we could,

(49:07):
you know invest it more appropriately and perhaps generate higher
returns and that that could help you. Out there so
there's a lot of different ways that we can. Help you,
YOU know i understand what you're. Going through you're not the.
Only one just come on in and see us and
let's work through this. With you help you out as
best we can.

Speaker 3 (49:26):
Fair enough eight hundred and nine four zero six nine.
Seven nine we've got time for. One more We've got Charles.
And casey he says he's considering putting two hundred and
fifty thousand dollars into an annuity to help cover their fixed,
monthly expenses but he's unsure about locking up that. Much
money the question, then becomes how should someone decide if

(49:47):
an annuity makes sense for them and what are the
trade offs they should really?

Speaker 2 (49:52):
Understand, First, good yeah, That's, yeah charles is a. GREAT question,
i mean a quarter million into anything is, a lot.
You know the the biggest thing is relying on the
expert advice of someone like myself from my, Investment advisor.
Johnathan O'Reilly that's taking into account your, whole picture where,
you are where you want, to go and showing you
how to. Get there it's all about. The plan it's

(50:13):
not necessarily about what you're doing with that amount. OF money,
i mean maybe it would be the best thing for you,
to do maybe it would be the worst thing for you.
To do we got to make sure that you are
covering those fixed monthly expenses and also protecting and preserving.
Your money if this is the only two hundred and
fifty thousand that. You have we're not going to put
all two hundred and fifty thousand into something, like that
something like, an annuity and there should be a healthy

(50:35):
concern about locking your. Money up for, our clients it's
a non issue because we're always ensuring that they have
enough money outside of something like this liquid and they're
checking their savings or just in their brokerage account or
other ira that we're helping. Professionally MANAGE so i like. Your,
idea listen a wonderful planning tool is, an annuity and

(50:56):
we certainly help with those Here At. Limehouse financial it
could be the right thing. For you, same, answer though
as the last couple of callers come in and, See
us let's build you a plan to get you where
you want. To, go folks we really. Appreciate you we're
glad you spent some time with, us TODAY and i
want to encourage you to tune in next week for
another great episode Of the Road To. Retirement show this

(51:19):
offers for the next ten callers in the next ten
minutes is for a written plan for retirement built by
our team of certified financial professionals at, no cost for obligation.
To you all you got to do is be one
of the next ten callers and you'll get that written plan,
for retirement, no cost, no obligation just. For you, Sound's.

Speaker 3 (51:38):
Fantastic trip do give us. A call we'd love to hear,
from you giving you the opportunity to review your, individual
circumstances all with, no cost. No obligation what will you?
Find out will you find out how much risk? You're
taking you'll find out if there are red flags that
might be a problem for you down. The line do
you really know what you're paying in fees? Or Commissions
let trip take a deep dive and find out. For

(51:58):
you tax liability will, be discussed and, of course a
lifetime retirement income plan that includes Maximizing That social. Security
benefit take advantage of this, right now, no cost no
obligation when you call us. Right now eight hundred ninety
four zero, six nine eight hundred ninety four zero sixty
nine Seventy, Nine again trip always, a pleasure one of
my favorite shows of the week to do with you

(52:20):
and look forward to it.

Speaker 2 (52:22):
Every Week thanks deeve for all your. Hard work guys
doing in next week for another. Great episode and, Until
then god. Bless you.

Speaker 6 (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 he'll think.

Speaker 6 (52:44):
Of you you, GUTS well I hate i'm one guy
who ain't prejudiced against anybody who may be lesshi patey.

Speaker 2 (52:54):
Than me it kind of sneaks up, on you. Doesn't it.

Speaker 6 (52:57):
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. Be

(53:20):
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