Road to Retirement 10-25-2025

Episode Transcript

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

Speaker 2 (00:20):
Retirement isn't one plan, it's five. We're breaking down the
five pillars of retirement income, investments, taxes, healthcare, and estate.
We want to ensure your strategy is resilient, not just lucky.

Speaker 1 (00:37):
Do you want to avoid taking a wrong turn or
your retirement roads.

Speaker 2 (00:42):
The road to retirement is a long one, and you
just don't want to make wrong.

Speaker 1 (00:46):
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 (00:55):
It's the perfect amount to map it out. That road
to retirement is key.

Speaker 1 (01:00):
You get on the road to financial security and independence.
Just like many of Trip's happy clients and retirement partners, my.

Speaker 2 (01:07):
Money is safe using the green line principle that you
taught me about.

Speaker 3 (01:11):
Thank you so much.

Speaker 1 (01:13):
Let's get this trip started. It's the road to retirement
with Trip Limehouse.

Speaker 3 (01:21):
Welcome in everyone, This is the road to retirement with
Trip Lime House. My name is Steve Sidahl. Got a
great show planned and as we usually do, Trip, I mean,
I'm anxious to jump in. How's your weekend?

Speaker 2 (01:32):
Good good, glad to be here, glad to be alive.
And hello to all my longtime listeners. Always try to
remember to shout out to you guys. You're awesome and
glad to be with you. If you're new to the
Road to Retirement show, well, welcome in. You're in the
right place. We are having fun helping people get to
and through retirement. And you know, see what I've seen

(01:53):
a lot lately is folks that have been attending our
workshops are live events. You know, they've been sharing with
us that as they're got any to know us on
the radio, on the TV and here in the office,
they're learning that we're different, that we're focused on the
backside of retirement, the decumulation side as I call it,
and they're really thankful for that. You know, folks, you accumulate,

(02:14):
you accumulate, and then you arrive or you are getting
close to arriving at the point where it's time to retire,
and that's when that's really when it comes down to
making a good decision and working with an expert in
income and distribution planning. And so myself and my investment
Jonathan or my investment advisor, Jonathan Riley, we're experts in

(02:36):
the area. We're really just having fun making sure you
have successful retirements. But Steve, what I see is a
lot of people they think maybe just about there, maybe
just about you know what they have accumulated their dollars,
if you will. But as we talked about coming into
this show today, there's kind of if you will pillars,
and we've broken down to five and we wanted to

(02:58):
talk about all of them because they're also important and
they all work together.

Speaker 3 (03:02):
Sure well, and again those and they all work better
when they work together, getting everything put together in your
plan covering all these areas. So what's the first one
distributing wealth efficiently? And does that mean making sure that
we're taking money from the right accounts at the right time.

Speaker 2 (03:19):
Well, I think it's you know, we'll call it the
income pillar. First of all, folks. Income determines outcome during retirement.
If You've heard me long enough on the show. You've
heard me say it over and over again, because it's
just the truth. Income determines outcome during retirement. So this
this first pillar that we're talking about right now, Steve,

(03:40):
the income pillar, I'd say, you know, the summary is
distributing well efficiently. Let's tie it into social Security for
a minute. I think that the timing of Social Security alone,
that can make just a huge difference, you know, for
people over the lifetime, right, I mean yeah, some like

(04:03):
married couples, they don't even realize it, but there's thousands
of different filing combination strategies out there, uh, you know
for them and folks if you're if you are listening
and you're married, you have to think about a surviving
spouse and the benefits that are that are there for
you know, the person left behind. You know, you have

(04:23):
to really carefully choose when to file for your Social
Security benefits. And in addition to that, you have to
have a plan. We always talk about it, the four
letter word, the the P L A N. And it
has to balance two things, I believe, but reliability and
flexibility that they go hand in hand. So to see

(04:44):
if your point was you know, your question was is
that does this Does distributing wealth efficiently mean drawing from
you know, like learning where to draw money from. I
think that's what you asked.

Speaker 3 (04:54):
Right, Yeah, exactly what I asked.

Speaker 2 (04:56):
Yes, that's that's a big breakdown for people that I see.
Is there not sure where to take money from? First?
Should they withdraw money from their taxable account? Should they
withdraw money from their tax defer account, should they withdraw
money from their tax free account? You know, what's what's
going to be the best way that's going to minimize

(05:18):
taxes and maximize longevity. So what I just mentioned, and
that was a great question, by the way, what I
just mentioned ties into an income and a distribution plan.
Everything we just mentioned where to draw money from, when
to draw it from, how much to draw it from,
you know, knowing how long it's going to last. And

(05:40):
then of course social security maximization and optimization. Folks, that's
an income and a distribution plan. And why would you ever,
why would anybody ever, ever ever not have this first pillar,
the income pillar, in place. You know, I don't think

(06:00):
that there's a good answer to that question except for this,
they're unaware. I think Steve. This is what happens. People
are unaware that in order to really be successful in retirement,
they have to have this first pillar, the income pillar,
in place. They just have to have it. An income
and a distribution plan has got to be in place.

(06:22):
So I think for those listening right now, you know
what we're talking about is getting the most out of
social security, knowing where to draw money from, when, how much,
and how long it's going to last. If you're out
there and you do not have an income and a
distribution plan, call me right now eight hundred nine four
zero six nine seventy nine, or visit us on the

(06:45):
web at limehousefinancial dot com. I want you to ask
us about an income and a distribution plan, a written
income and distribution plan, Steve. This may be the number
one mistake people make moving towards an into retirement, and
even those who are already in retirement, is not having
an income and a distribution plan. So we just talked

(07:07):
about the number one pillar, how to distribute wealth efficiently.
And by the way, folks, that does entail the social
Security Roadmap, which is a document provided to you by
us as social security experts here at Limehouse Financial and
this is going to clearly define the best time for
you to optimize and maximize social Security. So if you don't,

(07:28):
if you're out there and you're and you want to
make sure that you're getting the most out of Social Security,
then then call us eight hundred nine four zero six
nine seven nine Steve. We got an event coming up.
You want to you want to talk about that.

Speaker 3 (07:43):
That's well, I know it's coming up just before Halloween
on the twenty ninth.

Speaker 2 (07:47):
It is, and it's not gonna be spooky or scary.
It's gonna be fun though. All right.

Speaker 3 (07:52):
I'll bet you're gonna have some candy. Huh. Are you
going to be dressed up?

Speaker 2 (07:56):
Perhaps so don't. I might be dressed up as a
financial advisor.

Speaker 3 (08:00):
Okay, Well that's great because you know, yeah.

Speaker 2 (08:04):
Yeah, I'll have my I have my happy face on
as usual. But I'd love for those out there listening
who really want to do better in retirement and learn
more about how you can do what we were just
talking about, have that income pillar you know in place.
I'd love to invite you to this event. It's It
is Wednesday, the twenty ninth, at the Lexington County Public

(08:27):
Library at six pm. It's an income and a distribution
planning workshop and a social security workshop no cost for
obligation eight hundred nine four zero six nine seven nine.
Or just visit us on the web at limehousefinancial dot
com and look under the events tab. We always put

(08:47):
what we're doing and when we're doing it there again.
This is Wednesday, the twenty ninth, Lexington County Public Library,
six pm, a Social Security and income planning workshop, no
cost for obligation. Come on out and see it's okay,
get let's get in this all right to talk about
five right?

Speaker 3 (09:04):
Right? And so the income pillar, yes, but all equally
almost as important the tax pillar. Tax planning and retirement
is so key to a successful retirement.

Speaker 2 (09:13):
Do you think that retirees often underestimate the tax bite
that comes from things?

Speaker 3 (09:19):
I would guess that's yes, in your experience, I believe
you've said that.

Speaker 2 (09:23):
Yeah, it's true. Yep, it's just so true. I mean,
especially these things called r mds require minimum distributions, they're
just totally underestimated. So the tax pillar, this, this has
to be set in place. It has to be carefully
evaluated so that it doesn't you know, come around and

(09:44):
bite you. We need to look at what your required
minimum distributions are going to be. And folks, if you
didn't know it, you have a partner in your tax
deferred retirement planning. And that's why your IRA is an
I owe you to the irs. They set all the
parameters when you you know, when you can take money

(10:06):
out without being penalized, how much you can put in it,
you know, and then they force you to take a
distribution later whether you want to or not. On the
RMD thing. You know, a quick story. Jonathan and I
sat down with a client recently, and this particular client
just an excellent saver and just just over a million

(10:27):
dollars in the IRA that we professionally managed with them.
By the way, folks, if you're looking for a partner
to professionally manage your money so that you can do better,
pay pay lesson fees, and have greater returns, call us
right now at eight hundred nine four zero six nine
seven nine and ask us about our professional money management options. Okay,

(10:49):
but back to this client we were talking and do
an annual review and it's it's the time age seventy three,
and this gentleman is going to have to take out
four percent of that one million bucks forty grand a year,
and that that's going to of course take him into
the next tax bracket and he's going to incur you know,
those taxes. So you know, what we're doing carefully is

(11:11):
over time roth conversions and we mapped it all out
and plan. Now. He wasn't shocked by it because when
he became a client two years ago, we said this
is what's going to be happening as you move forward.
But there are so many people out there Steve totally underestimated.
They think they're going to pay less taxes in retirement
they than they do while they're working, and that's not
quite the way it happens. So everyone needs a tax

(11:31):
efficient retirement plan. We're gonna we're gonna come back and
pick up in a minute on on tax efficient retirement planning.
But you know, capital gains are real, there's medicare, premium
search charges, and really it's it's not what you make,
it's what you keep after taxes that matters the most.
So we're gonna return in a second and talk about

(11:54):
tax rates likely rising eight hundred nine four zero six
nine seventy nine line House Financial dot Com. So if
you're out there and you've built significant wealth and you
want to make sure that your retirement is not left
to chance. I'm here to help you. Our retirement Blueprint,
as swe so call it, it's designed for high net

(12:16):
worth individuals who want to align their income, their taxes,
and their legacy with their values. Give me a call
at eight hundred nine four zero six nine seventy nine
eight hundred nine four zero six nine seven nine, or
visit Limehouse Financial dot com to request your personalized consultation.

Speaker 3 (12:41):
That sounds great. Trip again, it's a phone call away, folks.
It's eight hundred nine four zero sixty nine seventy nine.
Make the call today while you're thinking about it. Take
advantage of this complimenting we're review by calling us right
now eight hundred ninety four zero sixty nine seven nine
eight hundred nine four zero sixty nine seventy nine. Quick
break for us. We are coming back with lots more
on the pillars of retirement planning with Trip Limehouse Retirement.

Speaker 2 (13:02):
A lot of people just focus on the dollars. Yes,
they are important, but you know what, you have to
take everything into consideration, income, investments, taxes, healthcare, state planning,
we're talking about the five pillars of retirement planning, getting
more into it. Next.

Speaker 3 (13:25):
Oh, I'm glad you're here. I'm not sure how long
it's been leaking. Looks like it's been leaking quite a nile.
Lucky you called this one.

Speaker 2 (13:32):
You did.

Speaker 3 (13:33):
I hope you can fix it. If I only knew sooner.

Speaker 1 (13:36):
Find the leaks in your retirement plan before you end
up underwater.

Speaker 4 (13:41):
Make sure your retirement plan is above water. Called Trip
Limehouse and the Team Limehouse Financial eight hundred nine four
oh six nine seven nine, eight hundred nine four oh
six nine seven nine Proudly serving Soda City.

Speaker 3 (14:00):
We are back on the road to retirement with Trip
wilm House. My name is Steve said, all having a
fun time as we usually are. I like this these
segments Trip because it really is kind of going back
to the basics. But at the same time, there's really
good information for everybody in terms of planning for retirement,
whether you're already there or whether you're ten years from there.

Speaker 2 (14:19):
Yeah, and I appreciate you bringing that up because sometimes
we get calls and people will say, hey, if I'm
already retired, can you help me, And the answer is absolutely,
absolutely As a matter of fact, there's a great segment
of people out there who are retired that really need help.
Maybe they don't have anybody, you know, professionally managing their money.

(14:41):
Maybe they don't have a safe money strategy. By the way,
I need to mention the green line principle. We haven't
talked about that for a while, Steve, we have not.
It saves people's retirement, it really does, you know. I
want to share with you folks how you can, just
one little way you can be in control of your retirement.
It's by implementing the green line principle. I'm proud of it.

(15:03):
I trademarked it with the USPTO. And what is it. Well,
it's a safe money strategy where zero is your hero.
You cannot lose any of your money, and you've got
a lot of upside potential, a lot of upside potential.
So if you're listening and you're just wondering about the market,

(15:23):
you know, I mean, it goes up, it goes down,
it's it's flat, whatever. But if you do not want
the stock market to control your direction on the road
to retirement, whether you're about to exit or whether you
are already there, then ask us about the green line principle,
a safe money strategy where zero is your hero, you

(15:45):
cannot lose any of your money and you have a
lot of upside potential eight hundred nine four zero six
nine seven nine. You know, they're just there's just a
lot of people that need help, and they may not
even realize it. Steve, And sometimes people are working with
a broker, a planner, an advisor, or an agent currently

(16:09):
and they might not even realize that they need help.
It's astounding to Jonathan, my investment advisor, and myself how
many people we encounter who are currently working with someone
that's handling their money and that someone knows all about them, right,
but that advisor, broker, planner, or agent is only focusing

(16:34):
on the money. And in most scenarios, people just have
an account, not a plant. And there's a clear difference
between an account versus a plan. Okay, folks, don't forget
that there's a clear difference between an account versus a plan.
As a matter of fact, most people out there only
have an account and they're not focused on these as

(16:56):
we're calling it today on the show, five pillars that
really ensure success during retirement. We've talked about two in
the first segment. The income pillar, excuse me, the income pillar.
Everybody needs an income and a distribution plan written, a
written income and distribution plan, and everybody needs a the

(17:17):
tax pillar taken care of. We don't want taxes to
come up and just bite us in the butt, you know.
And on that subject to taxes, we ended the last segment.
I said it was going to come back to it
real quick. I want to do that, Steve. You know,
we we talked about taxes and we say, do we
think taxes are going to stay the same? You know,

(17:38):
and I know your opinion.

Speaker 3 (17:39):
I think everybody thinks probably going to go up.

Speaker 2 (17:42):
Yeah, not say the same, not go down, probably go up.
So we're on the same page. So you know, we
just have to plan carefully. Uh, and we need to
be proactive regarding taxation. Maybe do some wroth conversions or
qualified charitable distributions. That's another thing that gets me. We

(18:05):
see so many people that have a lot of money,
and typically we're working with seven figure portfolios here at
Limehouse Financial. So people are coming to us because we're
working differently. We're focusing on the backside of retirement and
we're sitting down on the conference table, and these are
people that are working with big box retailers out there
on every corner. I mean, these are large institutions that

(18:26):
they're working with, right, and they're coming to us and
we're saying, hey, has your person at wherever? I'm not
going to mention any has your person at wherever mentioned
to you something like qualified charitable distributions? And they're like, no,
I've never heard of that. Now. How could somebody out
there have seven figures or more with a very large

(18:47):
institution working with an individual who is supposedly qualified. How
could a qualified charitable distribution.

Speaker 3 (18:55):
Not come up?

Speaker 2 (18:56):
If an advisor out there work with a client knows
that their client is charitable in client, they're giving money
their church, they're giving money to charitable organizations, whatever, why
would it? Why would an advice or not not advice
and might not recommend for somebody to give directly from
their tax deferred vehicle to the charitable organization versus using

(19:20):
money out of their you know, checking account or saving
the account or whatever. I mean qcds, qualified charitable distributions.
I mean, they work so well. I don't know. I
you know, Steve often say that sometimes I see so
much and it doesn't really you know, perplex me or
surprise me. But I guess as i'm thinking about it now,
it does, you know. I mean, I just want to

(19:41):
be like, come on, people, right, sure, I understand. But
the good thing though. The good thing though, is that
it's getting people here at Limehouse Financial, you know, to
to see us, and we want to see you, folks.
I like seeing people.

Speaker 3 (20:01):
Well, yeah, well you're a people person, there's no question
about that.

Speaker 2 (20:05):
I like to help. My mom and I were talking
about that recently and she said, Trip, You've always been
that way. You've always been like a helper. She used
to read us this book. I don't know the name
of it, but there was two characters in the book
when we were kids, pig Will and pig Won't. I guess, okay,
the character and pig Will was the one that would

(20:27):
always help and help other people and was like, yes,
I will help it, and then pig Won't was like, no,
I'm not gonna do that. It's funny because my brothers
were pig Won't. It was big Will. Oh my gosh,
but I love that on the tax stuff. So, you know, folks,
let's just get a tax efficient retirement plan. There's things
that you need to be working on now and we

(20:49):
can help you with it. I want to mention an
event we've got coming up. It's going to be this Wednesday,
the twenty ninth at the Lexington County Public Library, six pm.
A Social Security and Income Planning work shop, no cost obligation.
Would love to have you there this Wednesday, the twenty ninth,
A Social Security and Income Planning workshop at the Lexington

(21:09):
County Public Library, six pm, Wednesday Night, uh, no cost
for obligation. Eight hundred and nine four zero six nine
seventy nine. All right. The third pillar. I want to
make sure we get through volatility. What are we We're
calling it the investment pillar?

Speaker 3 (21:27):
Okay, well volatility, Yeah, that's that's when you start talking
to you know, stock markets. You're you're it's an iffy
world out there.

Speaker 2 (21:36):
Iffy. That's a great way. Yeah, I mean that's a
and it and it hinges on so many different things, right,
think about think about mark volatility? What like, what what
causes it? What comes to your mind when we talk
about what causes mark volatility?

Speaker 3 (21:51):
Well, I just what how people react to things? I mean,
there there can be somebody that burps and suddenly the
stock you know, I mean you look at the volatility
today and it's based on you know, earnings reports and
all these things that can that can trigger a stock
to move up or down.

Speaker 2 (22:07):
Yeah, it could be a headline, right, headline comes across.
Of course people react. It could be something geopolitical happening
all around the world. It's really amazing how how many
things play into the market both ways for it to
be positive or for it to be you know, negative.

(22:30):
But the investment pillar, we have to talk about it.
We need to build resilience to to the volatility that's
that they're all subject to. You know, a thirty percent
portfolio drop early in retirement. It can cut a person's
ability to sustain withdraws. It can it can cut that

(22:51):
rate in half in half and market downturns. They feel
different when you're living off your portfolio. So my question
for you listening, for you guys listening right now is
how do you how do you build resilience into a
retirement portfolio and balance the desire to so to speak,

(23:13):
own what you know with good risk management. Well, one
answer to that is by working with us here at
Limehouse financial My investment advisor Jonathan O'Reilly. You know, when
we're professionally managing money, we're overseeing it, watching it, and

(23:33):
we're partnering a person with a portfolio to make sure
that their goal is accomplished. So perhaps you're out there
and you don't even know what you own in your portfolio. Well,
the Portfolio Observation Report is something that you should ask
us about. That's a non bias, fact based, you know,
sheet that we give you that shows you what you're
invested in, what the cost, what's your performance?

Speaker 1 (23:56):
Uh?

Speaker 2 (23:57):
Is it the right portfolio for you? So don't move
forward without knowing what you have. Ask us about the
Portfolio Observation Report eight hundred nine four zero six nine
seventy nine. But how you know? The question I asked
is how do you build resilience? You know, how do
you know you have good risk management? Well, that green
line principle that I talked about earlier, Steve, that's a

(24:17):
fantastic way.

Speaker 3 (24:18):
That's a great it's a great way to connect it.

Speaker 2 (24:22):
And the reason is it puts people in control. It
gives them the sleep well at night plan. With that
zero being your hero, you can't go backwards. Lot of
upside potential. Again, it's not the only thing that you
should have, folks, but having it as a part of
your overall plan it works very well. That along with

(24:43):
professional money management. So you know, as we're talking folks
about all these pillars, they all work together. And the
important thing for you to have is a written plan
for retirement, one that's individualized and customized just for you,
you built by our team of certified financial professionals. And

(25:05):
if you're one of the next ten callers in the
next ten minutes, I'm going to give that to you
at no cost or obligation. And this isn't something that
you can just call and say mail me. This is
something you must come in. You must go through our
process to receive. We'll give you this written plan for retirement.
It's going to touch on all five of these pillars
to make sure that you're successful. Call us right now,

(25:28):
be one of the next ten callers in the next
ten minutes to receive this written plan for retirement at
no cost for obligation.

Speaker 3 (25:35):
Sounds great trip, Take advantage of this opportunity. Give us
a call right now. Eight hundred nine four zero six
nine seven nine. Really the goal at The show is
to help you make the best decisions for you when
it comes to your retirement. So if you do have
questions about what we've been talking about, maybe how it
applies in your own situation, now's the time to connect
with Trip eight hundred ninety four zero sixty nine seventy

(25:55):
nine eight hundred nine four zero sixty nine seven nine
quick break for us. We've got lots more to talk
out on the road to retirement with Trip Limehouse.

Speaker 2 (26:02):
You've spent decades building your nest egg, but when retirement comes,
the real question is how do you spend it wisely.
In this segment, will dig into y Decumulation is just
as important as accumulation, and we're going to talk about
how to make sure your money you've earned supports you

(26:25):
for the next twenty thirty or more years.

Speaker 3 (26:35):
In life, there are defining moments. You may kiss the
bride you got a job, buddy.

Speaker 2 (26:40):
Retirement is one of those standout, exhilarating times, hard paid
em seize the day, meet at no cost with our
local independent team who are here to help coach you
along this journey.

Speaker 3 (26:54):
Called Trip Limehouse with Limehouse Financial eight hundred nine to
four zero six nine seven nine. That's eight hundred nine
four zero six nine seven nine. Who We are back
on the road to retirement with Trip Limehouse having a
nice drive today, smooth sailing for us getting to and

(27:16):
through retirement. Trip is here to help you do just that,
and he's been doing that for more than twenty years
alongside his investment advisor Jonathan O'Reilly again have done great
things and Trip, you know you've been on the radio
for what I mean, I'm thinking seven years at this point.

Speaker 2 (27:33):
Six for no I think we're pushing six. It seems
like yesterday we just started. And also the whole time
with you, we've been doing this thing. So thank you
for thank you and the team for all your efforts
and keeping us straight and yeah, well I just having fun.
I think I remember when when it happened. Was it

(27:54):
was it was about when COVID was here and jumped
on the air because we couldn't really see people, uh
we were we were prevented from that, which is ridiculous,
but we wanted to still be able to help people
and and doing this was one of the ways that
we could do that, and we just continued. I ran

(28:17):
into someone recently and they said, I was at the
grocery store and we're just talking even how just conversations
just strike up, you know what I mean.

Speaker 3 (28:26):
Yeah, I just it's.

Speaker 2 (28:30):
Organic. Yeah, that's the way. I love that. I love
it when things happen organically. And uh so we're just
we're just talking and this guy says, your voice sounds
really familiar. And so then I don't even know what
we're talking about, nothing to do with anything, just hey, whatever,
how you doing to excuse me? Whatever, And then just

(28:50):
conversation started and it's like, your voice sounds familiar. So
then I introduced myself to ME'SAI like, oh, yeah, you're
you got the Road to Retirement show, and I said, yeah,
I do. And he said, man, I listen to you
all the time. Thanks for what you do. And I said, well,
I appreciate that. So, you know, it's fun being out
in the community and all over and meet meeting new
friends and thing with things like that happened so real quick. Well,

(29:15):
I want to go back. And we talked in the
first two segments today about the five pillars, and we
got to the income pillar. You know, we talked about
how people need to have the income and a distribution
plan and then we got in to talk about the
tax pillar, how people really need a plan for taxes
in the future and not be surprised. We talked about
the investment pillar and how folks need to build resilience

(29:37):
to market volatility and avoid the market controlling their direction
on the road retirement. Real quick, before we move on,
I want to talk about the last two and it
won't take but a second. The healthcare pillar, we got
to talk about that. Folks, don't just assume you're going
to get to retirement. Medicare is going to pay for everything.
Fidelity estimates that a sixty five year old couple retiring

(29:59):
today is going to been over three hundred thousand dollars
on healthcare expenses over and above what Medicare pays. We've
got to think about long term care planning, planning for
costs over and above what Medicare takes care of. So
don't forsake looking at that. Okay, and by the way,
all these pillars that we're talking about now, what I
would share with you is don't worry you're in the

(30:20):
right place, because when you come in and sit down
with us, we're going to make sure you have a
plan that's built around all of these pillars so that
you're solid as a rock. Eight hundred nine four zero
six nine seven nine, Limehousefinancial dot Com. The fifth pillar
is the estate planning pillar, and that just kind of

(30:43):
aligns your money with meaning. You know, estate planning documents
are definitely not exciting by any means, but they're essential.
Everybody needs a will, a power of attorney, health care,
power of attorney, living will, perhaps some trust, and we
want to make sure that you're key, you have key
documents in place. We want to avoid any confusion for

(31:04):
your family while you're here or when you're not here.
Want to do legacy planning. Okay, So and by the way,
we're helping people with legacy planning. If you're out there
and you don't have a will, power of attorney, healthcare power, attorney,
advanced directives, all that stuff, you know, a trust in place,

(31:26):
call me right now eight hundred nine four zero six
nine seven nine and ask us about how we can
help you with the estate planning part of your overall plan.
But those are the five pillars, and I'm glad we
could just touch on them today, folks. They all work together.
Retirement has a lot of moving parts, whether you're about
there or you are already there. We need to talk

(31:48):
about all these moving parts. We can't forsake them. The
most important thing is we need that written plan for retirement,
all right and real quick, well I'm thinking about it.
We got an event coming up to see if we want
to talk about that.

Speaker 3 (31:59):
Yeah, let's go. It's coming up next week, the twenty ninth,
and it's a library event, six pm as usual. And
again you just sign up now.

Speaker 2 (32:09):
Sign up now, sign up now.

Speaker 3 (32:12):
Well, yeah, before you jump in there, trip, let me
be a Denise. We just heard from Denise and she's
got a question that's pretty relevant, so let me let
me throw it at you. How about it sounds great?
All right? All right? She turn a sixty three next
year and wants to know if it makes sense to
delay Social Security until full retirement age, especially with inflation
pushing up cost of living their four oh one k.

(32:34):
Her four to one k is down about nine percent
this year. So how should she balance rising expenses with
the long term advantages of delaying Social Security?

Speaker 2 (32:42):
Hey, Denise, yeah, that is that. Thanks for calling in
in between segments. I appreciate that. Yeah, So does it
make sense to delay so security? You know. Okay, first,
the first of all, you don't want to file for
your socicurity benefit while you're working because there's an earnings test,
so you know, can you you could be penalized or
have less social security. Then then you would anticipate if you,

(33:07):
you know, are are working and taking so scurity, so
for tiber and age, that that threshold is higher. And
then once you are after for tiberant age, there's no
threshold ocuguing or whatever you want. So that's nice. So
potentially what we're talking about now, Denise, is you having
that social security roadmap. I'd like to give that to you.
So just just hang tight and we'll get with you

(33:31):
on that that social security roadmap. Okay, that's going to
clearly define when you should get the file for social
curity to get the most out of it. And I
understand what's happening with inflation in your living costs. That's
you know, we're all experiencing that that four one K
being down. You know, you're not the only one. That's
why it's important to have a safe money strategy like

(33:52):
the green line principle where zero is your hero. You
can't go backwards. You have a lot of upside potential.
You know, that's really going to help you out. So
I think at the end of the day, Denise, what
it comes down to is having that written plan for retirement.
You hear us talk about it. By the way, that
four to one K I'm assuming you're over fifty nine
and a half because we're talking about taking Social Security

(34:13):
or maybe delays.

Speaker 3 (34:14):
She's turning sixty three next year.

Speaker 2 (34:16):
Right sixty three, So you know, there's no reason for
the four to one to still be at work. You know,
we need to set up an IRA roll it over.
You're gonna have you know, more investment options, You're gonna
have a lower cost. More importantly, you're gonna have a
plan that's yours. So there's a whole lot happening here,
but you know, at the end of the day, it

(34:37):
just comes down to having a plan and uh and
there's so many factors that play into that. But delaying
those security, Denise, it could make sense, or it might
be better just to start taking it. Let's just get together
face to face and you know, make sure we're making
the proper recommendation for you. So thanks to.

Speaker 3 (34:56):
Math out of Strategy, Math out.

Speaker 2 (34:57):
Of Strategy, let's do that for you. So, you know,
this whole decumulation thing. People spend so much time so
Amy and I, Honey, I love you so much. You're
my best friend, and I just, oh my gosh, thank
God for you. We're camping recently, by the way, folks
were doing that road to Retirement camping thing and about
to get that camp a wrap with the road to

(35:19):
retirement stuff all over it. I'm so excited about. And yeah,
and we're you know, we're visiting these state parks. We're
talking to people about retirement. You know, what did you
do to retire? What are you doing to retire? Making
new friends? And we're going to keep talking about that
on the show, so make sure folks you listen for that.
That's fun stuff. But so we're riding bikes around the

(35:41):
state park together and I looked over at her and
I said, hey, I want to do this with you forever.
This is just so much fun. And she just smiled
big and and but she we got back to the camper,
we're talking and she said, I read an article recently
about how people struggle to spend their money and and
I said, so, I said, well, honey, what you're talking

(36:02):
about is decumulation. She said, yeah, she said, people get
in such the article that she said people will get
in the article said that people get in such a
rhythm of saving, saving, saving, and then they get to
retirement that they have a really difficult time breaking that
rhythm and then spending their money. So one of the
things I said to her was, well, I'm glad that
we can spend money right now. I mean, and folks,

(36:23):
I encourage you to do that too, because who knows,
time's limited, you know, spend some money now, do things
within reason that you can do within your budget. Right,
but go ahead and start thinking about you know, where
you're going to be, what you're going to be doing
when you do exit on the road retirement journey. So
go ahead and start thinking about decumulation. Decumulation is really

(36:43):
a hidden partner of accumulation. Okay. You know, there's there's
this whole thing about you know, I don't want to
spend my money. Well, it's perfectly okay to spend your
money if you have an income and a distribution plan
that shows you how to deccumulate. It shows you how
to you know, never run out of money, all right,

(37:05):
And by the way, that's called the personal pension plan. Folks,
if you're worried about running out of money, you need
to ask us about the personal pension plan. We can
set that up for you so that you never outlive
your money. It's guaranteed, predictable, reliable, consistent income for the
rest of your life. Okay, it's the personal pension plan,

(37:27):
and you can decumulate. The beautiful thing about decumulation when
you have a personal pension plan is that you can
decumulate as much as you want because you have a
personal pension plan that's going to guarantee you never run
out of income. Okay, and that's the key ensure your
retirement right.

Speaker 3 (37:44):
Uh.

Speaker 2 (37:44):
Decumulation does have its own set of risks, and not
not just including market risk. We have to manage things
like sequence of returns risk, and longevity risk and inflation
and liquidity risk. But guess what, folks, you're the right place.
This is what we do here at Limehouse Financial. I'm
glad you're listening. You know, as we've been talking about this.

(38:08):
If this conversation is making you rethink your retirement spin
down plan, you're not a loan and you don't have
to go at it a loan, we're What we're going
to offer you right now is called the Decumulation Blueprint Session,
and it's especially for high net worth retirees. What we're
going to do is analyze your current assets, income needs,
the longevity you have in tax exposure. We're going to

(38:31):
give you some models to multiple that you can look
at to take into account different withdrawal scenarios, and then
we're going to align your decumulation strategy with your risk
tolerance and legacy goals. So if you want to shift
from hoping that your money lasts to knowing that it
will last, give me a call right now at eight
hundred nine four zero six nine seventy nine Limehousefinancial dot Com.

(38:56):
Let's make your savings work as hard in retirement as
it did in accumulation.

Speaker 3 (39:01):
Sounds great, Trip, Make that call today while you're thinking
of an eight hundred nine four zero sixty nine seven nine,
eight hundred nine four zero sixty nine seven nine, eight
hundred nine four zero six nine seven nine quick break
back with another segment on the road to retirement with
Trip Limehouse.

Speaker 2 (39:14):
The twenty twenty six tax hike is officially canceled. We're
going to break down the new permanent tax code and
what it means for your roth conversions, required minimum distributions
and the other major cost jump coming in medicare.

Speaker 1 (39:34):
Losing sleep worrying about your retirement savings and market volatility.
You've earned your money and Trip Limehouse will work tirelessly
to protect and grow it. His no cost personalized review
starts with listening to you and results in a clear,
actionable ridden plan. Start sleeping easier tonight. Call Trip Limehouse

(39:55):
Limehouse Financial eight hundred nine four zero sixty nine seven
eight nine four oh sixty nine seventy nine.

Speaker 3 (40:09):
We're back on the road to retirement with Trip Limehouse
and we have had a fantastic show. We've taken through
the five pillars of retirement. That's so important that everybody
has that, and this one is going to be a
really very I think, informative. We talk about the tax
tsunami where rates will go up, and we were all
worried about the you know, Tax and Jobs Act. Well,

(40:32):
now it's the it's become permanent those tax cuts, but
tax rates and deductions are now permanent. Take me through
that trip.

Speaker 2 (40:42):
Well, first thing I want to point out is anything
that the government says is permanent typically is not.

Speaker 3 (40:47):
Well, okay, good point, yes, very good, very good clarification.

Speaker 2 (40:51):
Permanent for permanent for us is different than permanent for
the government. But yeah, you know, the Tax Cuts and
Jobs Acts was set to expect hire twelve thirty one,
twenty twenty five. Now it's been made permanent. And then
there's this new piece of legislation, the OBBA, the One
Big Beautiful Bill Act, and you know that did make

(41:15):
some of these tax cuts permanent, but that doesn't mean
that planning stops. So I thought what we could do
is just cover the permanent rules that folks out there
needed to know. I think that's a good it's a
good thing. So so on the top here we're going
to talk about how tax rates and deductions again are
now in this did your air quotes permanent quote, So

(41:38):
the seven income tax brackets ten percent to thirty seven
percent are now permanent. The increased standard deduction and the
elimination of personal exemptions are also permanent. The One Big
Bill Beautiful Act gave it an increased deductions for people
age sixty five and over that can total up to

(42:00):
twelve thousand dollars for a married couple filing jointly and
that begins to phase out at over one hundred and
fifty thousand and modified adjusted gross income. So with tax
brackets stabilized, my question is what's the new calculus for
wroth conversions for you guys.

Speaker 3 (42:20):
Oh, that's a good question.

Speaker 2 (42:21):
Yeah, I mean, should people still be acting in twenty
twenty five to converter? Can they spread them over a
long period. That's why we offer the Wroth conversion analysis
so that you make the right decision if you're if
you're considering a wroth conversion, it could be a great thing,
or maybe it's not going to save you over time.
Eight hundred nine four zero six nine seventy nine ask

(42:43):
us about the RCA Wroth conversion analysis. We want to
help you with that. Now, we got to move into
the Medicare Part B premium thing, Steve, that's a that's
always news for people.

Speaker 3 (42:53):
Sure, well, and again they delayed the announcement of what
the increase will be because of the government shutdown, but
there's going to it's gonna go up. The Part B
is going to go up, and then we need to
be ready.

Speaker 2 (43:03):
Well, there's that projected cost hike. And as you were
talking about the standard Medicare Part B premium is projected
to increase to about two hundred and six bucks a
month next year, which, by the way, Folcus is around
an almost twelve percent jump, and the deductible is scheduled
to go up to about two hundred and ninety bucks.

(43:23):
So your twenty twenty six Medicare premium is going to
be based upon your modified adjusted grossed income from your
twenty twenty four return, and high income retirements are going
to face a rising IRMA surcharge, which is when you've
made so much money that you have to pay more
for your Part B premium, And we have to strategically

(43:44):
manage the IRMA threshold with your twenty twenty five income
so we avoid a Medicare premium shock in twenty twenty
seven that happens all the time to people. So this
next one too, you know talk about permanent tax codes,
is there's a permanent higher estate tax exemption. The One

(44:06):
Big Beautiful Bill Act that permanently increased the federal estate
tax and gift tax exemption to fifteen million per individual
or thirty million per couple. So in twenty twenty six
is going to be index for inflation starting in twenty
twenty seven. Now the new permanent you know, it eliminates

(44:29):
the user to illuse it rush that existed prior to
the sunset, you know, for the TCJA that we're talking about.
So given the certainty of the high federal tax exemption,
you know, my question is, how does the focus shift
for affluent families to using something like the dynasty trust

(44:50):
or slats to manage future appreciation and potential state level
estate taxes? Folks, there's a lot of you out there.
They're holding valuable real estate that's appreci that have portfolios
that have highly appreciated. There's a lot of you out
there that fall into this category high net worth individuals,
and you have to plan for it, and we're poised
to help you here avoid estate taxes, you know, pass

(45:15):
on what you've worked so hard for to the next generation.
So call me right now if that's you, and ask
me about how you can plan to eliminate the irs
out of your state. We can show you how to
do that. Eight hundred nine four zero six nine seven
nine Limehousefinancial dot Com. Hey, I want to mention an
event we got going on before I forget about it,

(45:38):
coming up Wednesday this Wednesday, the twenty ninth at the
Lexington County Public Library, a Social Security and Income planning workshop,
no cost or obligation, six pm. Social Security and Income
Planning Workshop. We'd love to see you. Give us a
call if you want to attend that. Eight hundred nine
four zero six nine seven nine Wednesday Night, six pm,

(46:00):
Lexton County Public Library. Great chance to meet us in
person learn more about how we can help you do
better in retirement.

Speaker 3 (46:08):
Fair enough, boy, That slides us right into a couple
of questions. This one to talk about rimds as well.
We have just heard from William from Chapin on the Lake.
What he's wondering is required minimum distribution, his changes when
with the required minimum distribution, age changes and possible tax
law adjustments in twenty twenty six, they're considering doing wroth

(46:30):
conversions now. Their income this year is unusually low. How
do you know if a wroth conversion really makes sense
before tax brackets potentially go up? Good question?

Speaker 2 (46:41):
Yeah, William, thanks for listening to the Road Retirement Show
and for calling in. We love these questions, folks. I
do want to encourage you, just like William didn't, to
give us a call with your questions. If you don't
connect with us in between segments and just leave us
a message, we'll get back with you and answer that question.
But William, this is a great question that's not only
going to help you, but help others out there that

(47:02):
are thinking about the same thing. So you're talking about
require minimum distributions. My first point on require minimum distributions
is everybody out there needs to remember that your IRA
is an ioe you to the irs. Okay, it just is.
Probably number one question we get is how can I
avoid taxation from this money coming out of my tax
deferred vehicles? And the answer is you can't. It's never

(47:25):
been taxed. It's always going to be taxed. I mean,
maybe there's some scenarios where people don't pay taxes because
they're really low income and you know whatever. But typically
here at Limehouse Financial, we're working with people seven figures
or more. In their portfolios. You know, there's a lot
of income, maybe dividend income, rental income, social security income,
et cetera. So there's always a tax scenario. But for you, William,

(47:48):
you know, with the age changes and what you're referring to,
thank you for bringing that up. The age changes is
It used to be seventy and a half that you
would have to take money out of your out of
your tax deferred vehicles, William. Now it's seventy three and
they're pushing out to seventy five. And you know, for

(48:08):
you to be forward thinking about Roth conversions now, I
think that's positive, especially if your income and you mentioned
it is low right now, so potentially this could be
a good time while your income is low to do
the Wroth conversions. The question is you know when to
do them, and how much to convert and what does

(48:29):
that look like long term? So I'm not quite sure
how much you might have, you know, in tax deferred
vehicles that you would want to convert. But we met
with a person recently and you know, a doctor, and
this doctor really wanted to do Roth conversions. So we
did the Wroth conversion analysis. And with this doctor's two

(48:50):
point four million dollars in the IRA that we're managing,
you know, it made great sense to do Roth conversions
because the lifetime savings for for him over his lifetime
was substantial. So I think we just need to do
for you, William, the Roth conversion analysis, and we need
to provide you with the written plan for retirement that

(49:14):
we talk about that's going to map out all of
the things that we are imperative for you to have
mapped out. Healthcare, taxation, inflation, lifestyle goals, is state planning,
risk management, all those things. Okay, we've been talking a
lot about that today on the show, and give you
a plan that's going to get you there and keep
you there, allow you to be independent and in control
during retirement. So come on in and see us. Thanks

(49:36):
for being a listener and for that great question. William.

Speaker 3 (49:39):
All right, we've got time for one more trip. We
are going to hear from Jackie in Columbia, says her
portfolio is mostly in mutual funds and bond heavy retirement accounts,
but they're starting to worry about taxes and flexibility and retirement.
So should someone this close to retirement be shifting into
more tax efficient or income friendly investments? And if so,

(50:02):
what kind?

Speaker 2 (50:03):
Hey Jackie, So, my investment advisor, Jonathan O'Reilly of a
fantastic person. He really loves helping people in these areas
because what he's doing is sitting out with folks just
like you who are mostly in mutual funds and maybe
some bond heavy retirement accounts and doing analysis that determines,

(50:24):
you know, should you stay like you are or should
you change and do something different. Mutual funds they have
a lot of costs associated with them, bond heavy retirement accounts.
I mean, bonds haven't necessarily been doing what they have
always done in the past. So what I was share
with you is that portfolio observation report that we offer
a no cost for obligation would be suitable for you.

(50:45):
Because remember here at Limehouse Financial, we only make recommendations
in your best interest from a fiduciary capacity. So what
we want to do is take a look at what
you have and if it's good, tell you to keep it.
If it's not good, if you can do better, we
want to show you how to do that. Don't worry,
you're in the right place because that's our job here
at Limehouse Financial. But don't forsake the green line principle,
the safe money strategy that will save your retirement. That

(51:08):
we got to include that zero is your hero. You
can't go backwards. A lot of upside, potential, potent and
realistically for you. The bond heavy retirement accounts, maybe they
need to go and maybe the green line needs to
come in, and maybe the mutual funds need to be
replaced with a professionally managed portfolio. We're seeing that be
very effective for our clients moving forward to have a

(51:31):
successful retirement. But thanks for giving us the opportunity to
help you with that. Folks, we're really glad that you
tuned in to another episode of The Road to Retirement Show.
If you're new to the show today, well we're glad
you spent time with us. If you've been here, well
we're glad you're back. Thank you to all my clients
to make this possible. We appreciate your business very much

(51:52):
and are happy to be helping you. Tune in next
week for another great episode of the Road to Retirement Show.
But for now, I just want to encourag you to
call in and ask for that written plan for retirement
that we talk about, no cost, no obligation. You need
to move forward with this written plan for retirement that's
individualized and customized just for you, at no cost or obligation.

(52:14):
If you're one of the next ten callers again, that
number is eight hundred nine four zero six nine seven nine.
Visit us on the web at Limehouse financial dot com
and until next week. God bless you.

Speaker 5 (52:36):
If you remember these TV shows. You're getting ready to retire.

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

Speaker 2 (52:44):
I'll think of you.

Speaker 5 (52:45):
You guts well, I hate I'm one guy who ain't
prejudiced against anybody who maybelship pity to me. It kind
of sneaks up on you, doesn't it.

Speaker 3 (52:57):
Oh geez.

Speaker 5 (52:58):
You deserve a secure or independent retirement, our retirement that
is prepared to handle pitfalls like inflation, health emergencies, stock
market volatility, and taxation. You've worked hard for your money
and will work just as hard to protect it and
grow it. Retirement planning doesn't have to be difficult. Get

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

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