Road to Retirement 10-18-2025

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. I'll huff and I'll puff, and I'll blow
your hou'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?

(00:32):
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 you need a good retirement
specialist on your side. Cull Trip Limehouse of Limehouse Financial

(00:53):
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 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 reliable for the usage of information discussed. Always consultable

(01:16):
the qualified investment, legal or tax professional before taking any action.

Speaker 2 (01:20):
Everybody talks to state planning. But what if your legacy
is more than dollars and deeds. We're going to get
right into that and a whole lot more coming up
next on the Road to Retirement show.

Speaker 1 (01:35):
Do you want to avoid taking a wrong turn on
your retirement road?

Speaker 2 (01:40):
The road to retirement is a long one, and you
just don't want to make wrong.

Speaker 1 (01:44):
Well, buckle up, We're getting ready to take a retirement
road trip together. It's the Road to retirement with Trip Limehouse.

Speaker 2 (01:53):
It's the perfect amount to map it out. That road
to retirement is key.

Speaker 1 (01:58):
Is key you get on the road to financial security
and independence. Just like many of Trip's happy clients and
retirement partners.

Speaker 2 (02:05):
My money is safe using the green line principle that
you taught me about. Thank you so much.

Speaker 1 (02:11):
Let's get this trip started. It's the Roads retirement with
Trip Limehouse.

Speaker 3 (02:16):
Hey, welcome in, everybody. This is the road to retirement.
What trip Limehouse my interestage said, oh Trip, of course,
the guy behind the green line principle been helping folks
for better than twenty years. Getting two and through retirement.
You'll find him well hearted work at Limehouse Financial limehouse
financial dot com. So how you can check in and
speaking of checking in, check in with trip right now.

(02:37):
How's it going?

Speaker 2 (02:39):
Hey, good morning Steve, and good morning to all you
guys out there and radio land. What a pleasure to
be with you. Actually, it's a privilege. I don't take
it for granted. I'm thankful for each one of you
tuning in. Hello to my longtime listeners. You guys are
the best. Continue to send us those encouraging words that
you do on a regular basis were shaded. Yes, it's

(03:01):
fun to get more material out to you all the
time on the Road to retirement show. And if you're new,
well you're in the right place all things retirement. I'm
an income and distribution planning expert, a social security expert,
and I really enjoy getting people too and through retirement.
Part of that is legacy planning. So a great show

(03:25):
coming up here. Legacy planning. See that's like a it's
a very deep topic, wouldn't you say.

Speaker 3 (03:31):
Oh my gosh, Yeah, well literally figuratively, I mean, I
think it's yeah, good point that well, but you know,
we've talked about a state planning before tripping and and
again there's the legal part, but then there's the emotional part.
How our family, we want our family to remember us,

(03:52):
that whole legacy thing. So let's uh, let's kind of
dig into this and and walk down this.

Speaker 2 (03:58):
Yeah, it definitely goes beyond legacy. Planning goes beyond just
a will and a trust. Like you said, that is
the legal aspect of it. But true legacy, I think
that's really up to each individual. You know how people
remember you. Well, I was watching uh, Scenic America or

(04:23):
something on TV the other day. It's where the drone
flies over the state. You know what I'm talking about
in the show. Yeah, I forget the exact name of
the show.

Speaker 3 (04:37):
But they take it down a different area every time.

Speaker 2 (04:39):
It's really fun. Yeah, yeah, exactly. And this most recent
one was or that I watched was over Pennsylvania. Pretty
cool stuff. Hershey, Pennsylvania. Boy, that made me want some
chocolate right there. And I told Amy, I said, it's
amazing that milk. Chocolate wasn't didn't come to our country
until whatever, you know, she brought over whatever I meant,

(05:02):
I guess I've just thought chocolate was It's always been around,
you know. But speaking but speaking of legacy though, you know,
the they were flying over the Penn State Stadium stadium
and uh, and they were talking about how it's the
second biggest one next to the Big House, which which

(05:23):
Amy's from Michigan, so she's familiar with the Big House.
But this one they're talking about, you know, how it
sees people and how it's designed and and uh, anyway,
they got into talking about leap Turno, the you know,
the but as you can coach there for fifty years.
I'm not a huge sports fan, but I think that's
what I heard fifty years there is that sounds sound right,

(05:45):
something like that. Yes, but they were they were talking
about his legacy and of course, you know, it didn't
necessarily end too well with the scandal at the end,
but you know, so we're talking about legacy now. It
made me think of watching that show and and that
that kind of legacy that that he left of uh,
you know, that winning mentality and uh, you know, persevering

(06:07):
and just you know, giving it your all. And and
I think, uh with you know, in regard to financial planning,
there's there's some of those parallels as well. You know,
people really you know, pouring their lives out and uh
and and doing things that matter to them, but not
only to them, but to the next generation. As a

(06:28):
matter of fact, a common question that we have is,
you know, hey, how about my my IRA money or
my four to one K money, my tax deferred money,
my broker's account. What's gonna What's going to happen to
it when I'm not here any longer? How can I
how can I leave all of it to to the
next generation or the next generation or to a charity.

(06:49):
I mean, you know a lot of people are charitable
and charitably inclined and they want to leave money to
an entity, which is fantastic. And but I mean, over
my twenty plus years of helping people with planning and
let legacy planning has always come up. And you know,
a part of legacy planning, of course, can be something
like life insurance. As I'm thinking about it now, it's
a it's a great legacy planning tool where one hundred

(07:13):
percent of your money goes to a named beneficiary. And
and regarding as state planning, it's nice because you know,
with with a named beneficiary, it supersedes any estate planning
that has been done, and life insurance proceeds are received
tax free to the beneficiary. And of course a person

(07:34):
can name multiple beneficiaries or they can change beneficiaries. And
by the way, folks, for those of you out there
that have beneficiary designations, which probably is most of you,
I would offer you right now a beneficiary designation review.
Eight hundred nine four zero six nine seven nine. Limehouse

(07:56):
Financial dot Com is the website. The reason I would
say beneficiary review is important is because sometimes these things
get done once and put on the shelf and never
looked at again, and that can be to a person's legacy,
to their detriment when they're not here no longer, because

(08:17):
perhaps they wanted a beneficiary to be a different person
but never circle back around to it. So having an
expert like myself or like my investment advisor Jonathan, just
do a beneficiary review is in fact very valuable. So
if you'd like a beneficiary review, no cost, no obligation,

(08:37):
of course this would go in tandem with looking at
how you could make things better for you moving forward
in retirement. Once again, give me a call, no cost,
no obligation, eight hundred and nine, four zero six, nine
seventy nine. But each of us, whether we realize it
or not, you know, we leave a legacy. And the
nice thing about it is, as we're talking about it

(08:59):
even right now, well I hope that those listening can
get their wheels spending on what they may want their
legacy to be. I think it does go beyond just finances.
You know, there's many different ways we can leave legacies.
And you know, for for myself, for Amy, I think

(09:19):
the biggest legacy we want to make just sharing this
with you guys out there's you know, the spiritual legacy.
We want to make sure that our kids really love
the Lord and are walking with them and doing the
right things and just you know, our disciples, and that's
been the biggest thing, the primary focus. And you know,
I look at them now as adults, Megan and Allison, Cameron,

(09:39):
and I love you you girls so much. I believe
we've accomplished that. But it's not something that that ever ends,
you know, it's a continuous process. And and then you know,
like just being stewards of our money and demonstrating to
you know, our family how we want to spend it
and what we do with it, and you know, where
we give and things like that. That's part of you know,

(10:02):
legacy planning as well. I want to talk about Cameron,
my youngest daughter, for a moment. She she came home
I wasn't too long ago, and she told me she
was somewhere with friends. They were out and about and
and and and she was in a safe environment so
nobody worry. But she said there was this homeless guy
and and she said it just looked like he needed something.

(10:23):
So her, her and her friends you know, went over
to the to the gentleman, and she she gave him
a twenty. And you know, I thought, you know, like
even from a young age, she's Cameron, she's twenty one,
so that that's that's like demonstrates while I'm alive, part
of my legacy that is happening, you know currently, And uh,

(10:45):
just really touched my heart. But I also want to
think about it. Give a shout out to my mom
and dad because they really helped formulate how I think
about legacy planning now.

Speaker 3 (10:57):
Uh.

Speaker 2 (10:57):
But I think sometimes it can be a little sad
that people think about the only legacy they leave is money,
because it really does go beyond that. I mean, it
goes I mean so many different directions. And when we're
not here anymore, we're all going to be remembered for
something or one thing or many things. And you know,

(11:18):
you have to talk timelines. You know, there's this thing
called the federal estate tax. The limits are fairly high
right now, just about fourteen million dollars per person. And
while most people don't have to think about that, there
are a select group that do you know, folks, if
you're out there and your net worth and excess of
that fourteen million dollars, we really do need to be

(11:40):
talking about how to eliminate the government from you know,
picking up dollars that you've worked so hard for. You know,
As a third generation planner, my dad taught me years
ago that there there are ways that we can pass
on what we want to who we want and exclude
the irs. With strategic planning. Something like the use of

(12:03):
an irrevocable life insurance trust could be an excellent idea.
You know, there's just many, many techniques, strategies, whatever, you
want to call them that can eliminate the government from
receiving dollars that you've worked so hard for. But you know,
I think at the end of the day, when we

(12:23):
talk about legacy planning, my observation is that each one
of you out there is different. You know, some of
you may want to leave money to one child, to
multiple children, adult children. Maybe you're charitably inclined to want
to leave money to an entity an organization. Maybe you
want to create an endowment so when you're gone, the

(12:45):
money continues to, you know, fund something like a shelter
for animals. I mean, there's so many different ways, but
at the end of the day, what it comes down
to is proper planning. So my offer to you right
now is to give us a call and ask us
about the legacy planning opportunity. The legacy planning opportunity offered
by Limehouse Financial. This is a no cost obligation offer

(13:10):
for you guys, for those of you that really want
to focus on making sure your dollars go where you
want them to go, how you want them to go.
Give us a call right now at eight hundred nine
four zero six y nine seven nine and ask us
about the legacy planning options that we can help you with.
Sounds fantastic.

Speaker 3 (13:30):
Trip, don't miss this opportunity to come on in, sit
down and talk about it. Eight hundred nine four zero
sixty nine seven nine.

Speaker 2 (13:36):
That's the number.

Speaker 3 (13:36):
Eight hundred nine four zero sixty nine seventy nine, and
give us a call right now, get yourself a spot
on the docket, and we will be right back with
lots more on the road to retirement. What's Trip Limehouse
right after this?

Speaker 2 (13:49):
Like your retirement income? We're a rooftop. How do you
route the rain so no fool goes dry?

Speaker 4 (14:02):
Oh?

Speaker 5 (14:02):
I'm glad you're here.

Speaker 6 (14:04):
I'm not sure how long it's been leaking.

Speaker 2 (14:06):
Looks like it's been leaking quite a lot. Lucky you
called this one you did.

Speaker 3 (14:10):
I hope you can fix it. If I only knew sooner.

Speaker 1 (14:14):
Find the leaks in your retirement plan before you end
up underwater.

Speaker 6 (14:18):
Make sure your retirement plan is above water. Call Trip
Limehouse and the team at Limehouse Financial. Eight hundred ninety
four oh six nine seven nine eight hundred nine four
oh six nine seven nine Proudly serving Soda City.

Speaker 4 (14:32):
So, mister Johnson, I understand you have questions about the
report we provided you.

Speaker 2 (14:37):
Well, I do lots. Actually I don't understand.

Speaker 5 (14:40):
Ilis love that it's leather bound.

Speaker 1 (14:43):
Really after information about me? I'm concerned that.

Speaker 4 (14:46):
I'm not sure you'll think that the gold tassels were
a nice touch.

Speaker 5 (14:50):
How about the.

Speaker 1 (14:51):
Calligraphy, Well, it doesn't really say anything about my retirement specifically.

Speaker 5 (14:54):
I mean, I how about the custom illustrations.

Speaker 4 (14:58):
Look, here's you a first looking all sad, and here's
you after meeting with us, happy, happy.

Speaker 1 (15:04):
Happy, Well I wish I was. I don't need all
this Roman numerals. I mean, what is MXXV.

Speaker 5 (15:11):
Mister Johnson, that's page one thy twenty five.

Speaker 7 (15:18):
Do you want to retirement report that just looks nice?
Or do you want to set an.

Speaker 2 (15:21):
Actible plan built specifically for you.

Speaker 7 (15:24):
Trip Limehouse and the team at Limehouse Financial focus on strategies,
talenting your best interest, strategies designed great their tirement you've
always envisioned. Schedule your consultation now by calling eight hundred
nine four oh sixty nine seventy nine, eight hundred nine
four oh six nine seventy nine.

Speaker 3 (15:47):
Hey, welcome in, Welcome back. This is the road to
retirement with Trip Livehouse.

Speaker 8 (15:51):
Somebody ms.

Speaker 3 (15:51):
Steve said, Oh, Trip's been helping folks better than twenty years,
having a good conversation as always. I like on the
first segment, Trip we got into a little bit of
a legacy plan on how it's more than just money.
It's kind of how we want to leave, how we
want people to think, and how we want people to
feel when we're gone.

Speaker 2 (16:07):
Yeah, it's a big topic and never ending topic. And
after two plus decades of helping people have had many,
many conversations about legacy planning and you know, just a
recap on the first segment. It is different for each
one of us. By the way, folks, one of the
things that we do by intention is we turn this
show into a podcast. So if you ever miss a

(16:31):
segment or want to go back listen to something again,
just check out iHeartRadio, Google, you know, Spotify, Apple Play,
whatever wherever you get your streaming content, and just search
up The Road to Retirement Show with Limehouse Financial, go
back and listen to it, and also you can subscribe

(16:53):
to it every Friday it comes out we release it.
I want to mention our TV show as well, The
Road to Retirement TV Show at airs on ABC, NBC
and CBS throughout the weekend here in our Columbia marketplace.
Check it out a thirty minute program in the Road
to Retirement Show. We love that and we're just having
a whole lot of fun helping people. Jonathan O'Reilly, my

(17:14):
investment advisor myself. We really value you guys out there
and are thankful to be a resource for you, and
we want to see you. We want to see I
would invite you guys to call in right now eight
hundred nine four zero six nine seven nine, or visit
the website limehouse financial dot com. You know, there's so

(17:35):
many people, Steve, they're thinking about exiting on the road
to retirement journey, you know here recently with the you know,
government shutdown, furloughs, layoffs, I mean, a lot of people
are like, Okay, well, you know, I mean I'm about
to There are a lot of a big segment of
that population is in the position where they're you know, hey,

(17:57):
I'm about to retire anyway, maybe I should just go
ahead and do it. You know, if that's you, if
you have the government lay offs of course are affecting everybody,
but if you're one that has, like really you're close
to retirement and you're wondering, hey, this might be timely.
Can I go ahead and do it anyway and not
have to go back to work? I would encourage you

(18:17):
to come see us because perhaps we can, you know,
demonstrate to you, through the form of a written plan
for retirement, how you you potentially could retire and not
have to go back to work even when the shutdown
you know, is no longer or whatnot. So, and of
course this applies to anybody out there. Maybe you're just

(18:39):
wanting to retire and wondering if you can eight hundred
nine four zero six nine seven nine. It's fun for
us to look at the backside of retirement planning, the
decumulation stage. You know. So many people focus on the accumulation,
which is important because you have to accumulate to decumulate.

(19:00):
A lot of people think they have to have a
certain amount of money, you know, there to retire, and
sometimes that's the case, but sometimes there's ways that you
can retire with income sources that are going to be available,
such as social security, which makes me think about a
social security roadmap. You know, folks, this is a major

(19:23):
life decision you're going to have to make when to
file for Social Security. Don't take it lightly. You know,
sixty twos as soon as you can file. Seventy is
the latest. A lot can happen between those two ages.
Sixty six sixty seven is usually the full retirement age,
which is when you get one hundred percent of your
benefit that you're entitled to. But everybody needs a Social

(19:44):
Security roadmap. That's a document provided to you by an
expert like myself or my investment advisor, Jonathan O'Reilly, and
it clearly demonstrates the best time for you to file
for your benefit, to maximize and optimize. So if you're
out there and you're getting close to Social Security filing agent,

(20:06):
you want to make sure you're taking the right amount
at the right time, the filing at the right time,
then call me and ask me for the Social Security roadmap. Okay,
I'll provide it for you, no cost or obligation. But
you know, when it comes down to a retirement income plan,

(20:26):
it doesn't just show what you have, it shows when
and how to use it. So, going back to the
waterfall analogy, if you will, imagine income like a waterfall,
so you've got guaranteed income streams on the top and

(20:50):
you've got withdrawals, and then you've got tax decisions flowing downstream.
So if you get the flow raw, you could flood
your tax bracket and and potentially run dry too soon.
And there's always new rules ahead. So it's come time

(21:14):
to reroute the retirement income plumbing, if you will. And Steve,
let's touch on this. Let's touch on this three bucket concept.

Speaker 3 (21:25):
Sure, Well, let's you talk about frequently? Is you know,
you've got the various buckets and basically, uh, you know,
purpose determined placement. What money you have determines where you
put it and when you spend it.

Speaker 2 (21:37):
Yeah, so that's probably a predominant thing out there in
the planning worlds. And you can call it whatever you want.
We'll just go a three bucket concept for now. But
you've got taxable, tax deferred, and tax free, so that'd
be the three right, And the question for those listening
is how do you actually tap into these buckets in

(21:58):
the right order? You know, is it still best to
drain taxable accounts first? Or has the you know, wroth
Ira changed that. You know, there's there's so many, so
many different things to consider at the core of it. All, right,

(22:20):
we're talking about, you know, income and distribution planning, and
an income and a distribution plan is a plan given
to you by an expert like myself or like Jonathan
here at my office, and it clearly defines when you
should withdraw money, where you should withdraw money from, how

(22:44):
much you should withdraw, and it identifies how long it's
going to last. So when to draw money, where to
draw it from, how much to draw, and then how
long it's going to last. That's an income and a
distribution plan, folks, and it is it's imperative that you
have an income and a distribution plan as you're approaching

(23:07):
this road to retirement journey. And I want to make
it clear too that you know, we're helping people who
are you know, two three, four or more years out
from retirement. We're helping people that are five months out
to retirement. We're helping people that are right at retirement,
and who are in retirement. We're helping all people. And
regardless of where you are time wise, having that income

(23:31):
and distribution plan is so critical for you, okay, because
you have to know where to take money from, and
perhaps it is best to take money out of a
taxable account first or maybe you know you should do
it a different way. So I think the goal for

(23:51):
all people that we see though, is just they want
to know how they can do better in retirement. Folks,
if you'd like to know how you can do better
with what you have and do better moving forward, here's
our number eight hundred nine four zero six nine seventy
nine Limehouse Financial dot com will help you do better. Now.

(24:12):
Talking about requirement and distributions R and DS, that's a
hot topic, wouldn't you say, I would say, yep, Well,
I think that the I think that with requirementum distributions,
people sometimes don't realize when they're going to have to

(24:35):
take them and how much they're going to be. And
it all comes down to if you didn't realize it. Folks,
you've got a partner in your tax deferred vehicles, and
that partner in your tax deferred vehicles is the government.
You know, anytime you participate in a tax deferred vehicle,

(24:59):
you're actually choosing to pay taxes at a later date
at an unknown rate. Okay, So the predominant savings vehicle
out there that we see here at Limehouse Financial, and
typically we're working with seven figure portfolios. People that have
a lot of money saved in a tax for a vehicle,

(25:20):
the predominant savings vehicle is going to be like an
IRA or four one K four or three b ETSP
that type of a thing. Okay, and you know the
taxes have never been paid on the dollars that are
in this account. And by the way, folks, there's clearly
in a different a difference between an account versus a plan.

(25:41):
But you're forced to take a distribution by your partner
at age seventy three, So you know, you have to
ask yourself what starts happening when those distributions come in.
You know, can can those force him to hire tax
bracket or even worse, because Medicare irma surcharges. That's a

(26:05):
big deal. It's and it happens, especially with most of
our clients that have these high seven figure portfolios. They're
not even realizing it, but they're going to be forcing
to hire tax bracket later and paying more for Medicare
Part B premiums. I think the big thing for those
of you out there is again going to you know,

(26:26):
income and distribution planning is is that you just have
to have a plan, and quite frankly, if you don't
have a plan, you're you're you're setting yourself up for
potential failure, or for tax traps, or you know, for
maybe for running out of money, all kinds of things.
So you know, what I want to offer you right
now is a written plan for retirement. It's customized, individualized

(26:48):
just for you, built by our team of certified financial professionals,
and if you're one of the next ten callers in
the next ten minutes, I'm going to provide it to
you at no cost or obligation. Eight hundred zero six
nine seventy nine. Give me a call right now and
ask me for the written plan for retirement, individualize, the

(27:08):
customize just for you. I'll provide it for you no
cost for obligation. Next ten callers.

Speaker 3 (27:15):
Sounds fantastic, Trip, don't miss this opportunity to come on in,
sit down and talk about it. Eight hundred nine four
zero sixty nine seven nine. That's the number. Eight hundred
and nine four zero sixty nine seventy nine, And give
us a call right now, get yourself a spot on
the docket, and we will be right back with lots
more on the road to retirement with Trip Limehouse.

Speaker 9 (27:33):
Right after that.

Speaker 10 (27:40):
In life there are defining moments.

Speaker 2 (27:42):
You may kiss the bride you got the job, buddy.

Speaker 10 (27:45):
Retirement is one of those stand out, exhilarating times.

Speaker 2 (27:49):
Hard pay em seize the.

Speaker 10 (27:51):
Day, meet at no cost with our local independent team
who are here to help coach you along this journey.

Speaker 8 (27:58):
Called Trip Limehouse with House Financial eight hundred nine four
zero six nine seven nine. That's eight hundred nine four
zero six nine seven nine.

Speaker 3 (28:13):
We are back on the road to retirement with Trip Limehouse.
Driving down the road today smooth saleen looks good, feels
good as we get closer to retirement, and again we're
going to dig into some of the things that we've
been talking about. We talked about the fifty nine and
a half rule. Tripp did a great job explaining what
the age of fifty five rule. It's a little known,

(28:34):
but it can be useful. Gotta be careful, so let's
talk about this trip. The new RMD age is seventy three.
That's the new seventy and a half.

Speaker 2 (28:43):
Yeah, and for those of you listening that don't know
what RMD stands for, it's required minimum distribution. So I'll
get on my soapbox for a minute. If you if
you are familiar with this, folks, you have a partner
in any tax deferred vehicle that you currently participate in

(29:05):
our own and that partner is the IRS. As a
matter of fact, your IRA is an IOU to the IRS,
And because of that, you really need to be forward
thinking on how you're moving into retirement and if you
are in retirement already, what you're doing with your retirement dollars. So,

(29:27):
you know, going back to what we talked about. You
know in the last segment, we talked about the fifty
nine and a half rule. Well, that's an example of
how the IRS is in control of your retirement because
they tell you if you take money out of your
tax for retirement account, you know before fifty nine and

(29:49):
a half, you're going to pay a ten percent penalty
and you're also going to pay taxes. So that's mandated
by them. Again, they're controlling things. Now I'm talking about
a required minimum distribution and this is yet again another
example of how they are in control of your retirement. So,

(30:09):
thanks to the Secure Act two point zero, a major
piece of legislation that passed, the required minimum distribution age
has officially moved from seventy and a half to seventy three,
and it eventually will go to seventy five. So we're
talking about the age that you are forced to take

(30:33):
money out of your retirement, whether you want it, don't
want it, needed, don't need it, whatever they're making you,
they're mandating that you take money out. And you know,
quite frankly, for the majority of our clients, I mean,
we're working typically with seven figure portfolios and people that

(30:53):
have pensions and social Security and you know, brokerage accounts
and maybe you know, rental income, all kinds of things.
So for our clients, a lot of them, they don't
want or need to take money out of their tax
deferred vehicles. And so we engage in these conversations when

(31:14):
they hit these milestones as far as the age is concerned,
and we're like, okay, it's that time. And I'm thinking
of you know, a couple recently and both of them
are the same age. They both just hit that seventy
three mark, and you know, combined two million bucks and
their tax deferred vehicles, we're talking at a four percent withdrawal,

(31:35):
a force withdrawal that's eighty thousand dollars they're being forced
to take out and they weren't too happy about it. Now,
you know, we explained to them that you just gotta,
you gotta, because if you don't take out your require
minimum distribution, you're going to pay you twenty five percent
penalty and you still have to take it out. So
everybody out there needs a required minimum distribution roadmap, and

(31:58):
that's a document provided to you by an expert like myself,
like my investment advisor, Jonathan O'Reilly that maps out today
when you're going to have to take out these distributions
and estimates approximately how much you're going to have to
take out. Folks, you don't want to just arrive at
that point at that age and then be like, now,

(32:19):
what we need to incorporate it into the overall plan.
So for the longest time I wondered why because again
going back to the requirementimum distribution age, it was initially
seventy and a half and then it moved to seventy
three and it's moving even further out to seventy five.

(32:40):
So for the longest time I couldn't figure out, like,
why is the government postponing this? Why are they pushing
out and pushing it out? And then I had a
kind of an epiphany. And here's what it was. Aha.
It's an AHA moment. And the AHA moment was this.
The government is doing this just in my opinion, not

(33:02):
to really help Americans out. They're doing this because the
longer that your money sits in a tax deferred status,
hopefully the larger the balance will grow, and thus the
withdrawal that you're required to take out will be higher.
So think about the trillions and trillions of dollars that
are in retirement accounts currently, and think about how they'll

(33:24):
grow from if from a seventy and a half day
seventy five, just as an example. Okay, and that's a
you know, four and a half you know, four to
four and a half year time span that that a
lot of growth could happen. So these account balances increase dramatically,
and then the withdrawals are huge, and probably at a

(33:47):
time when income taxes are going to be moving up
as well. So, you know, I don't think that they
did it just to be nice. I think that there
was some thought there. I could be totally wrong, you know.
I mean some of my clients were like, oh, this
is good. I can wait till I have to take
money out, and I was like, you know, let's just
flip that coin. Let's look at it from another perspective.

(34:09):
Is it really good? Should you really wait to take
money until you're seventy five? And quite frankly, a lot
of people that we talk with, we're educating them on
the impact of them waiting longer to take money out
of their iras and and you know, for some of
our clients it's not detrimental, but for the majority of
them it is. So we're we're talking now about strategic

(34:31):
distributions from tax deferred vehicles that are going to benefit
our clients currently, specifically in the form of, let's pay
as little taxes as we can right now, and let's
avoid having super high balances later on that are going
to force us, you know, where we have to take
more money out and the balances are gonna higher, and
the withdrawals are going to be, you know, greater, and

(34:52):
we're going to go into the next tax bracket. Let's
try to avoid that. So, folks, I think that at
the end of the day, everybody needs a tax efficient
retire plan and everybody needs a required minimum distribution roadmap. Well,
don't worry, You're in the right place here at Limehouse
Financial eight hundred nine four zero six nine seven nine.
And as you're hearing me talk about a require minimum

(35:14):
distribution roadmap, and as you're hearing me talk about a
tax efficient retirement plan. If either one of those things
interests you, which they should, give me a call right now,
the next ten callers of the next ten minutes. I'm
going to offer that at no cost or obligation. Eight
hundred nine four zero six' nine seven. Nine if you

(35:36):
want to know how to take money out of your
tax to first savings at the best time before you're
forced to where you can pay the least amount of
taxes and make sure that you never outlive your money
and even protect and preserve your money using the green
line principle where zero is your, hero you've got no

(35:57):
downside and a lot of upside. Potential then call me
right now and tell, me, HEY i heard you talk
about this tax efficient retirement, plan this required minimum distribution,
roadmap And i'd like to have. It it's it's yours
next ten callers in the next ten minutes eight hundred
nine four zero six nine seven. Nine so we want

(36:18):
to make sure that you you know understand these required minimum,
distributions and especially if you're a high income, PERSON i
want to help you Avoid medicare search, charges this irma
thing that's out, there or future tax. Shock so, SEE
i let's talk about maybe letting it. Lie you, know

(36:40):
how about that Doing maybe why doing nothing could be?

Speaker 3 (36:43):
SMART i, mean you don't have, to you, know do
anything with your four oh one k once you leave the, company,
RIGHT i mean they they will keep it as long
as it's more than five thousand. Dollars but is that?

Speaker 8 (36:56):
Smart?

Speaker 2 (36:57):
Yeah that is contrary to popular. Belief you don't have
to touch your four one k just because you've, retired
at least not right. AWAY i, mean we talked about
arm ds a minute. Ago but you, know if you've
got more than five thousand dollars in the in the
plan with your former, employer they they're required to leave

(37:19):
it in place unless you say, otherwise so they can't
force you out of. It and that's nice because it
can buy you time to decide whether to roll it,
over to draw from, it or integrate it with other retirement.
Accounts So i'd like to just touch on when is
it smart for a retiree to leave their four to
ONE k balance where it. Is, well if you're working

(37:40):
and you have a balance in your four ONE k
and you think you may need to borrow against it
for some reason such as maybe you, know paying off
a credit, card or helping you, know a grand child
out or a child, out or helping yourself out to
do something at the house, repair, remodel, whatever you. Know
it can be a good tool because you can you

(38:01):
can borrow up to fifty thousand dollars out of four
to ONE k while you're still. Working and as long
as you pay that off before, you you, know leave the,
job you're not going to pay taxes on. That and
it's nice too because you're paying yourself back the. Interest
so that could be a great thing to. DO a
good reason for you to leave your four one k you,

(38:23):
know at your employer if you want to borrow against. It,
okay other than, that, Really i'm not not coming up
with any significant reasons for anybody out there over fifty
nine and a half to leave their money with their. Employer,
folks it's time to really grab the bull by the.
Horns it's time for you to make up your mind
that you want to have the best retirement, available and

(38:45):
one of the ways you can do that is by
talking to us about how to utilize your four to
ONE k in the best way. Possible so as you're
hearing me talk about this right, now those of you
out there that are fifty nine and a half or
have either your fifty nine and a half or you've quit,
working you're not your former employer. Anymore you've got four

(39:08):
to one case and you don't know what to do about.
It i'd like for you to give me a call
at eight hundred nine four zero six nine seven. Nine
the bottom line, is it's not a one size fits all.
Thing this is about you understanding and learning about how
you can maximize to the best of your ability what

(39:30):
you have accumulated in these tax effert, accounts putting them
to use for you for the rest of your. Life
and it all starts by having that written plan THAT
i talk. About be one of the next ten callers
in the next ten. Minutes we'll do everything That i've
mentioned to, you and a whole lot more in the
form of a written, plan individualized and customized just for.

(39:51):
You no cosset for. Obligation eight hundred nine four zero
six nine seven, nine be one of the next ten
callers to get that written plan for. Retirement let's get
you moving in the right.

Speaker 3 (40:03):
Direction sounds, Great, Trip it's advice like that shows you
how important it is to meet with a financial coach Like,
trip somebody who really understands the ins and outs of
the financial. World so you're invited to take advantage of
this opportunity to make sure that you are on the right.
Path that path based on your risk, preferences your, budget
and of course your. Goals eight hundred nine four zero
sixty nine seven, nine eight hundred nine four zero six

(40:24):
nine seven. Nine we've got to take one more break
and when we come, back we have got much to
discuss on the road to. Retirement What Trip limehouse.

Speaker 2 (40:31):
Time to dig into the listener questions because nothing says
fun radio like financial inquiries and a little bit of mild.
Panic let's get to.

Speaker 1 (40:42):
It 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 listening to you and results in a, clear
actionable ridden. Plan start sleeping easier. Tonight Call Trip Limehouse

(41:08):
Limehouse financial eight hundred nine four zero sixty nine seventy.
Nine eight hundred nine four oh sixty nine seventy.

Speaker 3 (41:17):
Nine we're back on the road to retirement With Trip,
limehouse our final segment together down this fine day and
as a result we Are. Trip you have not yet
mentioned the chamber breakfast that you have coming. Up you've
only mentioned it.

Speaker 2 (41:35):
Once this is, Great. Steeve you're always helping us. Out
thank you so. Much, Yes i'd like to invite everyone
out there to an event we have coming up On,
Saturday september, twentieth and it's going to be at nine
am at The Lexington chamber Of. Commerce it's a social
security and income planning workshop where we serve, breakfast no

(41:57):
cost for, obligation, folks come on. Out we have a
great time at all of our. Events saturday mornings are
nice and relaxed and we just have. Fun we like
to get to know, you make new, friends and most,
importantly help you understand how you can do better in.
Retirement so don't miss. It give us a call at

(42:18):
eight hundred nine four zero six nine seven nine for
those of you that want to attend this no cause
For Obligation breakfast, Event Social security And Income Playing workshop once.
Again It's, saturday the twentieth Of september at nine am
at The Lexington chamber Of. Commerce so, hey you got

(42:38):
to give a quick shout out to all my longtime.
Listeners you guys are, awesome very thankful for. You thank
you for you, know continuing to let us know how
much you appreciate, Us thanks for telling other people about.
Us let's continue this on for, many many more. YEARS
i think we've been at about five and a half.
Now and ALSO i just want to encourage the of

(43:00):
those out there that have been listening for a while
that have thought about calling but haven't called in, yet
to make an. Appointment just pick up the phone and do.

Speaker 6 (43:08):
It you.

Speaker 2 (43:08):
KNOW i met with a person last week and they
shared with me that they had been listening for two
and a half years and that they finally picked up the,
phone you, know and came in and saw. Us and
the last thing that he said when he walked out
the door Was i'm GLAD i just finally picked up
the phone and called and made an. Appointment so that
could be you eight hundred and nine four zero six

(43:29):
nine seven nine and all my clients out. There you
guys are the. Best couldn't do this without. You thank
you so much for your. Business you mean the world
to me and To jonathan here at our. Office so
these questions are. GREAT i always say, it BUT i
love questions because they give us an opportunity to help
some people out that maybe wanted to ask the same,
question but they didn't.

Speaker 3 (43:52):
Know so here's here's somebody at sixty four years. Old they're,
single trying to decide whether to start Social security now
or wait until sixty. Seven they got about two hundred
thousand dollars in retirement, savings and they're worried about market
downturns wiping it. Out how should someone weigh the risk
of drawing down savings early versus locking in a lower

(44:13):
Social security benefit for.

Speaker 2 (44:15):
Life, yeah great. QUESTION i love these social security. Questions you,
know as an expert in social security, Planning i've helped
thousands of people understand the best time to maximize and
optimize their social security and quite, frankly it's different for
everyone out.

Speaker 9 (44:33):
There you.

Speaker 2 (44:33):
Know so at sixty, four you're a little shy of
full retirement, age which would be sixty seven as you,
mentioned and the, benefit of, course would be. Higher SO
i think that it comes down to looking at what
your retirement income goals, are what your lifestyle goals, are
and how to incorporate healthcare and taxation and inflation into

(44:57):
one big bundle so that you can and understand the
impact of maybe Starting Social security now or starting. Later
first of, all if you're still, working then you would
not want to Start Social security because there's the earnings
test that you're subject, to and that's just gonna make
Your Social security benefit be less than it should be

(45:19):
because you get penalized if you earn over a certain
amount of. Money so the earnings test, is you, know
working against you at a younger, Age so that should
be a no. Brainer if you're, working you, know and
you're earning over twenty three twenty four thousand bucks a,
year you don't want to Start Social security because you're
not going to get the full amount that you're entitled
to until you hit that full retire and. Age, now

(45:40):
after full retirement, age there is no earnings, test so
that's a that's a big. Plus you can earn whatever
you want and receive one hundred percent of your. Benefit
so as you can tell there's a lot of factors
that go into, win you, know to decide to file
for Your Social security benefit regarding the money that you,
have that two hundre one thousand. Dollars you, know you're

(46:02):
not the only one that's worried about market. Downturns and
you know your your hard earned, money your your, savings you,
know being, depleted and it could happen, rapidly it could happen,
slowly you, know depending on what the market may do
may be. Doing so WHAT i want to encourage you
to do is understand more about the green line. Principle

(46:25):
that's a safe money strategy where zero is your. Hero
you've got no downside and a lot of upside. Potential
so this truly is a way for you to ensure your,
retirement to make sure that you never run out of,
it despite what's happening in the. Market, folks whether you
realize it or, not if the market is going to

(46:45):
control your your your destiny on the road to, retirement
that's not. Good it's a very uneasy feeling and it
can just kind of turn you around backwards and lead
you down down the wrong, road potentially to a dead.
End so you, Know i'm glad that this person has
asked this question BECAUSE i want to help everyone out

(47:05):
there to understand that there's a way you can avoid
WHAT i just, described and it's called the green line,
principle a safe money. Strategy so make sure you ask
us about. That but, overall the answer this question, is
we need a social security roadmap that's going to clearly
define the best time to optimize and maximize this social security.
Benefit we also have, to you, know talk about a

(47:29):
safe money strategy to protect these retirement. Dollars that you.
Have good news, though you're in the right place because
everything that you've asked about and everything That i've mentioned
is what we. Do we're experts in these. Areas so
come on, in sit down with, us and let's build
you that written plan for retirement that we talk about
so that you can have a healthy and successful.

Speaker 3 (47:52):
Retirement sounds, great, trip folks. Again eight hundred ninety four
zero six nine seven. Nine here's a couple in their
early seven they're facing out of rising out of pocket.
Costs even With medicare and a supplement, plan their prescription
drug expenses jumped over four thousand dollars this year. Alone
how can retirees plan ahead for unpredictable healthcare costs that

(48:15):
seem to grow faster than.

Speaker 2 (48:17):
Inflation, yeah this is a common. Question you, Know you're
not the only ones it's, happening you, know across the
board to everyone out. There you, KNOW i think it's
just a scary proposition to kind of be where you
are and then all of a, sudden you, know you
have these additional. Expenses WHAT i would share with you
is that we need to really take a look at the.

(48:38):
Budget you, know what you what you need to live.
On let's make sure that that's taken care. Of let's
take a let's take a look at your, lifestyle what
you're spending your money on over and above the budget
that you have to. Meet, okay and then let's do.
It let's suit an analysis on your savings and your.
Investments are you appropriately proportioned to where you should? BE i,

(48:59):
mean do you have safe money? Strategies do you have
guaranteed income for life? Strategies the money that you may,
have is it being managed properly in a diversified? Portfolio
are you working with someone like us fiduciary that's only
making recommendations in your best? Interest so you, know there's

(49:19):
really only so much you can. Do when life gives,
you gives you, lemons you, know you make. Lemonade so
maybe we have to adjust spending a little along the.
Way you, know maybe we just need to really hone
in on what all is there and how it's being
utilized and reallocate some. Things so don't be, afraid because

(49:41):
this is common and probably it will continue to happen
as you're getting. Older let's just again going back to
that written. Plan let's just do the best we can
with what we, have and let's put it in the
form of a written plan and make sure we're doing
as best as.

Speaker 3 (49:57):
Possible sounds good to eight hundred and nine four, Zero
we got time for one more. Here the portfolio dropped
fifteen percent last year and they're now debating whether to
cut back on withdraws or stick to their four percent.
Rule they're seventy three years, old rely heavily on this.
Income what is the smart way to adjust retirement withdraws

(50:18):
during the down market without jeopardizing long term?

Speaker 2 (50:21):
Security oh, gosh great. Question, well the first THING i
would like to share with you, is you, know you're
not the only. ONE a lot of folks have you,
know in encountered that market, volatility and a lot of
folks are wondering if they're doing the right. Thing they're withdrawal.
Strategies you, know you mentioned the four percent. Rule we

(50:41):
do talk a lot about that on this. Show that
rule has been around for a, while and one of
the things THAT i mentioned on air is that it
can't necessarily be relied upon like it once. Was so
you're you mentioned that you're in your early seventies and
relying on on, Income so you, know do you have
do you have guaranteed income for? LIFE i guess that'd

(51:03):
be a first, question and do you have a safe money?
Strategy so let's take a look at all the money you, have,
okay and let's build a plan that's going to protect
and preserve a good amount of what's there so it'll
never go, away it'll always be. There and at the same,
time the good news is that you can utilize the

(51:24):
green line principle to preserve or protect that money and
create guaranteed income for life that you'll never, Outlive so
then you don't necessarily have to rely on something like
the four percent. Rule SO i would say a safe
money strategy such as the green line principle really would benefit.
You AND i would also say creating a personal pension
plan income that you can never outlive would benefit. You

(51:46):
and then from, there let's just professionally manage the money
in such a way that you know you can make
it through these market. Downturns, okay so don't be afraid
you're not the only. One come on in and see,
us and let's do this a whole lot more for.
YOU i appreciate your, questions, Folks thanks for spending time
with us today on the road You Retirement. Show we
really appreciate, You we're thankful for, you and we are

(52:08):
really looking forward to spending time with you again next.
Week we got a great show lined. Up visit us
on the web limehouse financial dot. Com give us a
call at eight hundred and nine four zero six nine seven.
Nine come on in and see. Us we're experts and
we're here to help you until next. Week god bless.

Speaker 9 (52:27):
You if you remember THESE tv, shows you're getting ready to, retire.

Speaker 8 (52:40):
And everybody see a big pair of feet, there cheesy,
mustache you'll think.

Speaker 7 (52:44):
Of, you you Guts, WELL i Hate i'm one guy
who ain't prejudiced against anybody who maybe listship pity to.
Me it kind of sneaks up on, you doesn't.

Speaker 6 (52:57):
It oh.

Speaker 7 (52:57):
Geez you deserve a secure or independent, retirement our retirement
that is prepared to handle pitfalls like, inflation health, emergencies
stock market, volatility and. Taxation you've worked hard for your
money and will work just as hard to protect it
and grow. It retirement planning doesn't have to be. Difficult

(53:22):
get the facts based approach that you deserve all at no,
cost with no. Obligation call The road To retirements Trip
limehouse eight hundred nine fours zero sixty nine seventy nine
or text trip to eight hundred nine four zero six
nine seventy.

Speaker 1 (53:39):
Nine information provided is for illustrated purposes only and does
not constitute, investment tax or legal. Advice information has been
obtained from sources that are deemed to be, reliable but
their accuracy and completeness cannot be. Guaranteed Either Trip limehouse
nor his guests are liable for the usage of information.
Discussed always consultable the qualified, investment, legal or tax professional
before taking any.

Speaker 9 (53:58):
Action