The Importance of Planning and How to Avoid Common Mistakes

Episode Transcript

Speaker 1 (00:00):
Join this morning by our retirement planning professionals from Class Financial,
Malia Quavis and Kyle Kite, of course, COSS Financially. You
can learn more about them on their website colss financial
dot com. That's Colss k l aas Financial dot com.
Telephone number six oh eight four four two five six
three seven. Don't forget no charge for that initial get
to know you appointment, that conversation at COSS Financial. It

(00:22):
will be complementary to you again their telephone number six
oh eight four four two five six three seven. I'm
gonna be talking this week about some common mistakes folks
need to avoid when it comes to retirement planning. Door
for get. Also, if you have questions, whether it's about
today's topic or retirement planning in general, we've got phone
lines open for you at six oh eight three two
one thirteen ten. That's six oh eight three two one

(00:43):
thirteen ten. We'll get you right on the air with
Malia and Kyle this morning. A couple great things I
mentioned the website colass financial dot com. Not only is
it a great place to learn more about Class Financial,
you can also sign up and subscribe to the weekly
Market Pulse newsletter. It's a great weekly email that arrives
in your inbox with some great snapshots of what's been
going on in the markets, as well as the link
to the most recent podcasts that available to you at

(01:04):
klossfinancial dot com as mentioned. Joined this morning by Malia
Quavis and Kyle Kite. Melia, how are you doing this morning?

Speaker 2 (01:12):
Very good?

Speaker 3 (01:12):
How about you?

Speaker 1 (01:13):
I'm doing really well. Kyle? How have you been?

Speaker 3 (01:16):
I've been doing good. Sean, how about you?

Speaker 1 (01:17):
I'm doing really good and it's great to talk with you.
We've got a very important conversation ahead. But before we
get to this week's conversation, one of the really cool
features as well about Money in Motion is a chance
to win great prizes. This week you have a chance
to win a twenty five dollars gift card to Amazon
from our friends at Coloss Financial. And before we get
rolling on this week's program, let's actually take a look
back at last week's class quiz question week Malia and

(01:40):
get the question and answer there as well.

Speaker 2 (01:43):
Yeah, so last week we had a really nice conversation
revolving around our favorite topic. At least our client's favorite
topic is when to take your Social Security and the
ins and outs of that. So our question revolved around
that subject, which was true or false? Once you received
once you reach your full retirement age we call FRA,
you are entitled to one hundred percent of your Social

(02:06):
Security benefit. So true or false? Travis of Oregon. Congratulations
to him. He called in and answered correctly true. Wait,
once you reach the FRA you can receive one hundred
percent of your Social Security benefit, so congratulations to him.
Listen carefully for today's question.

Speaker 1 (02:24):
If you missed any part of last week's show, or
miss any part today show, you can always listen back
at colossfinancial dot com. That's class financial dot com. Speaking
of the class quiz question, Leak, it pays to pay
close attention to the program for a number of reasons.
Great information, but oftentimes both the question and answer to
the cost quiz question the league come up during the program. Again,
we'll tell you all the details on how you can
win that twenty five dollars gift card to Amazon a

(02:45):
little bit later on in this half hour. So as
we think about and of course this week, we're going
to be talking about some of the mistakes people need
to avoid with the retirement planning. And Kyle, what are
some of those that we should be aware of when
it comes to our own planning.

Speaker 3 (03:01):
Yeah, absolutely, Sean. These are obviously with us being retirement planners,
we want to help people avoid these mistakes. So hopefully
when you hear us go through these, if you think
you're making one of these mistakes or haven't thought about them,
bells should go off and you should proceed with caution
and probably reach out to the financial advisor. So the
first one is staying too aggressive in your portfolio. So

(03:22):
this is where you know, this is hard to bounce
back from if you're too aggressive right before retirement. So
the famous one that I remember is from two thousand
and eight, we had a client come in and they
were almost in tears, and they had a really nice portfolio,
and we asked them, you know, what was the issue,
and he said, well, before last year, I had double
this amount. So they stayed too aggressive too late in

(03:43):
their portfolio. Basically had cut in half because of one
bad year in the market. And so that is very,
very hard to recover from because obviously if you lose
fifty percent, it takes one hundred percent to get back
up to where you were. Obviously, one hundred percent return
to get that back. So it's very, very easily avoidable,
which is why we kind of harp on it a
little bit that the last thing you want to do
is you get close to retirement is just have too

(04:04):
much left in the stock market and have something go
against you. It can be almost basically hard to come
back from so and so many people try to time
the market to get in and get out at the
right time and trying to make up for lost years
if they didn't start investing early enough, and this is
just not a good idea like that, Managing that risk
is the most important part as we get close to retirement.

(04:25):
Tier The second mistake and the one that people are
very very familiar with, is retiring without fully considering health
insurance costs. So many people, as you know, will say
that I'm working just for the insurance. If you've got
friends or family members to say that, and it's because
it is one of the biggest concerns for a lot
of people. But there are some options out there. So
many people would be eligible for Cobra continuation health coverage,

(04:48):
which allows you to remain on your employer's planes for
a certain amount of time. Generally, it's about eighteen months,
but you may be required to pay up to one
hundred and two percent of the planing cause, so what
you see taken out on your check each week, or
each every two weeks, whatever it is, you may have
to double that because you'll have to cover for what
the employer is currently paying. And generally, COBRA applies to

(05:09):
all group health plans maintained by private sector employees with
twenty or more employees, So again, this is one that
many people will be eligible for, but it doesn't mean
that it's cheap or it's going to be your best
option or anything like that, so you should definitely speak
with your employer for details. Another option when it comes
to health insurance is if your spouse is going to
continue working and if you can continue to be covered

(05:32):
under their coverage. That obviously solves for this as well,
because generally, when you're working carrying insurance through an employer,
it's obviously going to be a lot less expensive than
if you were to pay for it on your own.
And then some people will have the Veterans Health Insurance
or VA benefits, so if you're a veteran, you may
be eligible to enroll to the or go to the
VA for healthcare. And finally, the one that gets a

(05:52):
lot of buzz is the Affordable Care Act. So if
you're retiring more than one year before you turn sixty five,
you may be looking at justing a major medical insurance
to the Affordable Care Act. And so this one, they
actually have a website healthcare dot gov. You can actually
go through and look at different options for health insurance
costs and also plans that are available in your area,

(06:13):
check networks, that kind of stuff. And this is really
tied to your income. So if you're have a lower income,
you may be entitled to some pretty good subsidies from
the government to keep this health insurance and cost pence
the name the Affordable Care Act. So, like I said,
insurance is one of the big ones that people are
concerned with, and with good reason, but there are some

(06:34):
options out there for most people. Talk and the third
mistake is cool.

Speaker 1 (06:39):
Oh, it's just because I was gonna mention talking this
morning with Kyle Kite and Malia Quavis, our retirement planning
professionals from Class Financial online Coss Financial dot com. That's
Closs k l a A S Financial dot com. They're
tel for number six, So eight four, four, two, five, six,
three seven, And Kyle, sorry about cutting you off there.
You're going to tell us about mistake number three.

Speaker 3 (06:57):
Yeah, number three is not being tax wise. So this
is kind of a big thing that you'll hear us
talk about a lot on the show, is you know,
there's no getting away from paying taxes, but we want
to pay them as smartly and as efficiently as possible.
So some people, you know, their big goal is I'm
going to pay off my house before I retire, and
they've saved up a nice mess egg and they're going
to pull money out of their flour one K to
pay off the mortgage to retire. And by doing that,

(07:19):
if you do that with all pre tax money, that
could crush you as far as taxability. So if you
pull out one hundred and fifty thousand dollars from your
four oh one K to knock out your mortgage, that
whole one hundred and fifty thousand could be income taxable
to you. They want to be very, very careful and
that might not be the best option for you.

Speaker 1 (07:36):
And you know what, I'd say, it's a great point
that you bring up there as always Kyle, and I
know we've done shows as well, where we kind of
talk about heading into retirement with you know, with debt
free and some of the calculations need to be made
and the imports those conversations, Jevick. You can always listen back
to previous shows those podcasts at class financial dot com.
That's coss k l aas Financial dot com. Great website there.

(08:00):
Not only to listen back to the podcast, you can
even subscribe to the podcast online learn more about the
Class Financial team again. That all at classfinancial dot com.
They're tough for number six oh eight four four two
five six three seven. No charge for the initial get
to know your appointment tech Loss Financial. It will be
complimentary to you again the number six oh eight four
four two five six three seven. So, Malia, let's talk

(08:20):
about choices when it comes to taking a pension if
you have one of those, are there mistakes folks can
make with that decision?

Speaker 2 (08:27):
Yeah, And you know, we were just sitting with some
clients this week who are looking both of them husband
and wife, are looking to retire both in February, and
one of them is gonna have the option for a pension.
And this is where things get kind of nerve wracking.
It's like, well, I'm not really sure how much it'll be,

(08:48):
which choice should I take. I mean, they're giving me
those preliminary numbers, and there's a lot of anxiety around this,
and honestly there should be, because this is usually an
irrevocable decision. Once you mark the little box, it kind
of stays like that for the rest of your life.
So it is a very important thing to look at
with your financial planner before you just mark the box

(09:10):
and send it in. And we have unfortunately had situations
where that did happen and it wasn't the best option
for the client. So you want to slow down, look
at the options. Make sure you understand the difference between
if I were able to take it out as a
lump sum, a lump sum would mean it's all available
to you right now. You typically would go ahead versus

(09:34):
annuitizing it as a pension. You could actually take it out,
roll it into your own IRA, and then you could
create your own systemized distributions which are kind of like anneutized,
but it could be shifted however you wanted to. However,
if you take the traditional pension, which we talk about
single joint or other choices, single or joint and there's

(09:59):
several others that will be determined. You know what works
in your situation. Do you need more income now? Does
your spouse have a pension perhaps that's been turned on,
and looking at those those amounts per month, what that
will do for you. Perhaps the pension is worth more
to you for the future if you know you have longevity,

(10:22):
and that might be the best choice for you along
the way. So just slow down, make sure you know
what you're signing up for, because this is not going
to be your only income source. Likely you're going to
have Social Security. Likely you'll have a nest egg to
draw off of as well. So we want our clients
to have the most flexibility when it comes to retirement income,

(10:43):
and of course we want them to have some type
of reassurance that they will have monthly income coming in
regardless of what the market may or may not do.

Speaker 1 (10:52):
Really big decisions being made when it comes to pensions,
and of course you want to make the right ones,
the best ones for you. As we talked this morning
with Malia Quavis and Kyle Kai, our retirement planning professionals
from Class Financial website Class financial dot Com. That's Closs
k L aa S Financial dot com. So, Malia, what
is mistake number five?

Speaker 2 (11:10):
I know Sean's writing these down, so he doesn't make
any of these. So an important one here is not
maxing out a company match if your company offers that
in your retirement plan. So if your company offers it,
we would suggest you should be signed up maximizing the
amount you can contribute to take advantage of the entire

(11:31):
employer match if available. So the match is typically a
percentage of your salary. So for example, if you contribute
six percent of your salary, your employer might match up
to three percent. And so what we like to look
at is every single year for our clients, when they
can do this financially, we like them to try to

(11:53):
max out those retirement plan contributions. So in twenty twenty four,
this is the bogie. If if you're under the age
of fifty, that numbers twenty three thousand that you are
permitted to put a way into this tax deferred plan
through your employer, whether it be a four to one
K or four h three B. And if you are

(12:15):
over fifty, there's an additional seventy five hundred dollars ketchup
that you can do for a total thirty thousand, five
hundred dollars per year combined. So you know, if you
and your spouse spouse are both working, that's a lot
of money you're able to not pay taxes on today,
allowing for it to grow tax deferred. So we want

(12:36):
to get get into that situation where you're maxing those
contributions out. Now, I want to mention something, but I
want to confuse people. I want to mention something exciting
that in twenty twenty five. So starting in January next year,
there's going to be the opportunity for what's called a
super ketchup, and a super ketchup will be for employees

(12:58):
who are age sixty to sixty three, and instead of
that extra additional seventy five hundred for employees who are
sixty to sixty three, they'll be a ketchup of eleven thousand,
two hundred and fifty dollars, which means that you in
twenty twenty five can actually store away as much as
thirty four thousand, two fifty. So, as Kyle said, we

(13:20):
don't want people to be too too risk oriented as
they approach retirement. Flip side is we want you to
take advantage of being able to defer as much because
these are typically your higher earning years, so when the
IRS permits things like this, we are all about taking
advantage of. Let's get an in as much as we

(13:41):
can to grow tech deferred for you.

Speaker 1 (13:44):
Great opportunity there this morning as we talk with our
retirement planning professionals from Class Financial, Maleia Quavis and Kyle Kite.
Learn more online the website class financial dot com. That's
Coss k LaaS Financial dot com. There telephone number six
so eight four four two five six three seven. Don't
forget no charge for the initial gets to know you
appointment ach Loss Financial. It will indeed be complementary to

(14:04):
you again their number six oh eight four four two
five six three seven. We haven't mentioned social security. We'll
get the details on that from Malia and Kyle. We
will do that next as Money in Motion with Coss
Financial continues right here on thirteen ten, WIBA talking with
our retirement planning professionals from COSS Financial, Malia Quavis and
Ben Cossfinancial dot com. That's Coss k l aas Financial

(14:28):
dot com. Great website and resource to learn more about
Coss Financial. Also an opportunity there to sign up for
the weekly Market Pulse newsletter that available to you at
Cossfinancial dot Com. Telph number for the office right here
in Madison six oh eight four four two five six
three seven. No charge for that initial get to know
your appointment Tech Loss Financial. It will be complementary to
you again the number six oh eight four four two

(14:50):
five six three seven. Talking this week with Malia and
Kyle about mistakes to avoid when it comes to planning
for retirement and Malia, we haven't touched on social secure.
I've got to guess that there is a mistake involving
social security, isn't there?

Speaker 2 (15:05):
Yeah, And you know last week we did a whole
show I'm looking at social Security, but we definitely bring
this up as a potential mistake that you need to
make sure you are looking at your income figures properly.
As far as future dates when you could start social security,
there are pros and cons to taking it too early,

(15:27):
you know. Sometimes. You know, again, we're looking at longevity.
None of us quite knows where that will lie for us.
But what we want you to take away today is
you need to remember that the earliest you can draw
us age sixty two and I'll be honest, most people
know that because they're like, hey, I'm going to start.
But full retirement age is probably age sixty six or

(15:48):
sixty seven for the majority of our listeners. So the
question is how soon do you take your benefit? And
as I said, there's a difference between when you can
first take it or when it actually will be your
full retirement age. Again fro according to Social Security, if
you're born between nineteen forty three and nineteen fifty four,
according to them, your full retirement age is sixty six.

(16:11):
If you're born between fifty five and fifty nine, your
full retirement age is sixty six plus some months. And
then born after nineteen sixty we're looking at age sixty seven.
So that is the full retirement age at which you
can collect one hundred percent of your benefit. Now we've
talked later, we've talked before. Obviously, if you wait from

(16:31):
full retirement age to age seventy you can accumulate an
extra eight percent per year. So that's very enticing for people.
But again, if we make that decision, I just want
to start Social Security been paying into it for years.
You know what's that going to look like? Well, you
can go to SSA doc Gov and get a calculation
for that. But just know that age sixty two you're

(16:53):
only going to receive about seventy four percent seventy four
point two percent of your monthly benefit, so about a
thirty percent reduction, and that's a permanent reduction. And age
sixty five you're going to receive about ninety two point
two percent of your full benefits. So you really want
to carefully look at this. When does it when? When
are you maximizing this? Even though we know your benefit's

(17:16):
going to grow the longer you wait. Though, the fact
is Social Security data shows us that the average age
most people begin benefits is around sixty five, and that's
gradually increased from age sixty two over recent years. So
what's important is that you figure out what works in
your scenario, not your neighbors or your brothers or anything
like that, what is going to make the best sense

(17:37):
for your family's income as you enter retirement. So sit
down with someone and map this out.

Speaker 1 (17:42):
Really important decisions to be made. As we talked this
morning with Malia Quavis and Kyle Kite, they are our
retirement planning professionals from Class Financial. Of course, we talked
to as Malia mentioned we did talk so security in
depth last week. If you missed any part of that program,
you can always listen back online at clossfinancial dot com.
That's spelled cossk l aa S Financial dot Com. The
telephone number six oh eight four four two five, six

(18:05):
three seven. No charge for that initial get to know
you appoyment at COSS Financial. It is indeed complementary to
you again that number six oh eight four four two
five six three seven. We'll take it down the home
stretch whilst our Closs Quiz question the week with you.
We'll do that next as Money in Motion with COSS
Financial continues right here on thirteen ten WI b A

(18:25):
Join this week by Kyle Kite and Malia Quavis. They
are our retirement planning professionals from COSS Financial. The website
Class financial dot com. That's coss k l a a
s Financial dot com. Great website to learn more about
COSS Financial, the separate divisions at Class Financial, how they
can help you or if you're an employer, and some
of the other areas that they work in at Class Financial. Again,

(18:46):
that all available at coss financial dot com. That's Coss
k l a a S Financial dot Com telephone number
for their office here in Madison six oh eight four
four two five six three seven. That first appointment at
COSS Financial. It is complementary in the telephon number is
six eight four four two five six three seven. Going
hold on the teleph numbers. Welcoming up a little bit
later in the segment, we'll do the Class Quiz question

(19:07):
leak your chance to win a twenty five dollars gift
card from Amazon from our friends at Class Financial. And
as we're talking this week about ten mistakes folks need
to avoid with the retirement planning brings us to number
seven and Kyle, what are some of these other mistakes
folks should be avoiding?

Speaker 3 (19:25):
Yeah, Sean, one big one here is planning to work indefinitely. So,
according to the Trans America Center for Retirement Studies, fifty
three percent of workers expect to work beyond age sixty
five to make ends meet. So with that being said,
you can't really count on being able to bring in
a paycheck if you need it, because as you get older,
obviously things come up. So while more than half of

(19:45):
today's workers plan to continue working in retirements, the reality
is that just one in five aged sixty five and
over are actually employed. According to the US Department of Labor.
Now this number has almost doubled. It used to be
eleven percent forty years ago and we're up to, like
I said, almost twenty percent now. So it has gotten
better obviously with you know, medicine and people taking care
of themselves, longevity, that kind of stuff. This has obviously

(20:08):
gone up. But this could be out of your control
and you could be forced to stop working and retire
early for a number of reasons, one of course being
health related issues. So either you your own or those
of a loved one are a major factor. So maybe
you have to quit to take care of aging parents,
or you know, you have some unforeseen circumstance that forces
you to stop. And then there's also employer related issues,

(20:30):
so downsizing, layoffs, buyout. So this has become quite common
here recently. Is you know, as people are you know,
aging workforce, they tend to be higher paid employees, so
those are kind of the ones that they may be
able to to you know, buy out and kind of
force an early retirement so that they can bring some
younger people, lower paid, skilled into those positions. And then

(20:51):
also failing to keep your skills up to date is
another reason older workers can struggle to get hired. So obviously,
as fast as technology is moving things like that, some
people kind of get come place and don't keep up
with with what's changing, and then they're kind of all
behind the time. So the actionable advice that we have
for everyone to assume the worst and save early and
often so only twenty eight percent of baby boomers survey

(21:13):
by that Trans America study have a backup play and
to replace retirement income if unable to continue working. So again,
the worst you can do is just kind of not
have a plan and just get to these ages and
something happens, even out of your control, when you're kind
of stuck. So another one mistake number eight here is
putting your kids first before your retirement. So we see
this one a lot, and it's obviously understandable because most

(21:36):
people want their kids to have the best of everything, right,
best education, the biggest wedding, all that kind of stuff,
and if you can afford it, that's great, But footing
the bill for some of these larger expenses like college
or big wedding, that kind of stuff at the expense
of your own retirement savings could come back to hurt you.
So we see this a lot of times where parents will,

(21:56):
you know, sign up for the parent plus loans and
things like that. And unfortunately, with those student loans and
parent plus loans, it's not like you have an asset
that you can sell and pay that note off right.
That cash has to come from somewhere. A lot of
times it comes out of four to one k's or
you know, the nest segg that you've been putting away,
that kind of stuff, and that can really really put
a damn front things. And remember that you can't borrow

(22:18):
for your retirement living, so instead you should be exploring
other avenues other than your four one K plan to
help fund a child's education. So you should look at scholarships, grants,
student loans of course, and even less expensive in state
schools in lieu of liquidating or borrowing from that retirement account.
So no one plans to run out of money in retirement,

(22:39):
but it can certainly happen for different reasons. So this
is why being prudent now may prevent you from having
to move into your kid's basement later. So I do
have clients tell me that that I took care of
my kids long enough in the take care of me now.

Speaker 1 (22:52):
Yes, I have a feeling if you ask asked the kidtles,
would you rather mom and dad pay for college? Your
mom and dad end up living in your base and
they're going to say we'll pass on, We'll figure other
ways out to pay for college. That is it is
for sure, not yeah, it's uh, this is all this
stuff is just absolutely you know, as you guys get
a chance to work with people day in and day

(23:13):
out and see this stuff, it's absolutely amazing and I
think a lot of things folks don't always think about.
And it's really important. If you missed any part of
today's program, I you missed any part of those mistakes,
you can always listen back at Clossfinancial dot com. That's
cost k l a A s Financial dot com. Artelf
number six So eight four four, two, five, six three seven.
I've got two left here, Kyle. What's mistake number nine?

Speaker 3 (23:36):
Yeah, number nine is drawn too much out every year
from your portfolio. So this is that The question we
get all the time is how much do I need
to retire? Right? And unfortunately that number is different for everybody,
and it comes down to these withdrawal rates and what
you're going to live on in retirement, what kind of
lifestyle you're used to, that kind of stuff. So most
of the time, what you'll read out there is an

(23:57):
appropriate withdrawal rate out of a retirement account would be
four to five percent, depending on your age and circumstances,
and that should replace between seventy to one hundred percent
of your pre retirement income. So the reason that you'll
hear that kind of replace eighty percent of your income
in retirement number out there is because many people don't
realize that what your salary is, you're not bringing that

(24:18):
amount home, right, You're paying fight attack is on that,
you're paying for health insurance, you're putting money into your
four oh one k, all that kind of stuff. So
that's always say when you're looking at what you need
to retire, really focus on your net take home pay,
right what hits the bank account, because that's what people
are truly living on. It's not this big salary or
anything like that. It's what's coming in and going out
each each month. Obviously, So the five percent bogie that

(24:41):
we talk about is a good number for most people
just to get an idea, right. So if you think
about everybody heard it was an old money magazine I
think article back in the day that you know you
need a million dollars to retire. Well, if you do
the math on that, right, five percent of that's fifty
thousand dollars plus in social security. You're probably in that
eighty to ninety thousand and range for most people, which

(25:02):
is obviously you're not going to be living on the
street or anything like that. It is fairly comfortable. But again,
depending on what your goals are and things like that.
That's why we want to be very, very careful with
that withdrawal rate because as you know, when you are
pulling out a higher percentage and you have a bad
year in the market, that just can really really damage
the portfolio and it may not ever recover from that.
So we got to be careful of that. And the

(25:23):
final mistake, this is the one that Molly and I
joke about all the time, is that yes we do
a lot with numbers, but we're also you know, a
shoulder and an advisor for people and wait outside of money,
So do not wait till you're retired to develop hobbies
or to get fit. So begin taking steps today. So
as you're able to have a healthy transition to the
next phase of your life mentally and physically. So we

(25:44):
say we don't want people retiring from something. You know,
you just want to retire just because you don't like
your job and you just want to get out of it.
But you really don't have any hobbies or anything like that.
You can only read so many books, play so much
golf that kind of stuff. You've got to find some
social hobbies to get out and do and things like
that as well. And we want you to retirement should
be that time where you are able to you know,

(26:05):
check that bucket list, trips off, do the stuff you've
always wanted to do, pick up that new hobby, whatever.

Speaker 1 (26:09):
It is should be should be a fun time for you.
And importance of planning and avoiding mistakes. As we talk
this morning with Kyle Kite and Malia Quavis, they are
our retirement planning professionals from Class Financial, the website COSS
financial dot com that's coss k l aa S Financial
dot com and their telephone number six oh eight four
four two five six three seven. No charge for the
initial gets to know you appoyment at costs Financial. It

(26:31):
will be complementary to you again their number six oh
eight four four two five six three seven. You want
to hold on to that telephone number now because it's
time for the Class Quiz Question the Week. It works
like this. In just a moment, I'll ask you the
class Quiz question the Week. You will then have thirty
minutes from the interday's program to call the Class Financial
office right here in Madison at six oh eight four
four two five six three seven. If you are the
first call correct answer, win this week's prize, which is

(26:53):
a twenty five dollars gift card to Amazon. This week's
CLSs Quiz question the week is this. If you are
over fifty years old in twenty twenty four, what is
the maximum you can contribute into your employer retirement plan?
Is it twenty five thousand or thirty thousand, five hundred dollars?
Telephone number six oh eight four four to two five

(27:14):
six three seven. First call correct answer when that's twenty
five dollars gift card to Amazon. Don't forget as well.
That's COSS Financial's office right here in Madison, that number
six o eight four four to two five six three seven.
Malia Kyle, great talking with both of you this morning. Guys,
have a fantastic.

Speaker 2 (27:28):
Day, Thanks Sean.

Speaker 3 (27:30):
Thanks Sean.

Speaker 1 (27:31):
Take care guys, and doctor Marty Greer is in studio
next taking your calls here on thirteen ten WIBA. This
is Money in Motion with Coss Financial Asset Advisors, LLC,
a registered investment advisor registered with the SEC. The contents
of this show are for informational purposes only and should
not be considered individual investment advice. Coloss Financial does not

(27:53):
offer tax or legal advice. Any opinion offered during the
course of this show is the opinion of that particular
investment an advisor representative, and not necessarily the opinion of
class Financial News comes your way next right here on
thirteen ten WIBA