Episode Transcript
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Speaker 1 (00:00):
You worked hard for your money, but do you know
how to make it work hard for you. You need
a team with experience, vigilance, and a strategy to help
you live the retirement you deserve. Find your financial safe
haven with Haven Financial Group. Today, you're listening to the
new and improved Haven Financial Group Radio Show, where we
bring you comprehensive weekly financial wisdom from the professionals. It's
(00:23):
all about helping you solve retirement problems so you can
make your nest egg last. Your tune to the Haven
Financial Group Radio Show with your host Larry Kolvig and
Kim Karrigan your guides to weekly retirement confidence. If you're
interested in protecting and growing what you have, let us
be your financial safe haven. The full nines are always
(00:43):
open at six point two, five oh four eighty four hundred.
Now get your financial questions ready because the Haven Financial
Group Radio Show starts now.
Speaker 2 (00:54):
Good morning, and welcome to the Haven Financial Group Radio Show.
I'm Larry Kolvig, Founder and see of the Haven Financial Group.
With us today we also have Kyle Thomas, a certified
financial planner on the Haven Investment Team.
Speaker 3 (01:07):
Kim Good to be with you the markets.
Speaker 2 (01:09):
We got a lot to talk about today, and people
they don't stop talking with all that's been going on
the last several weeks.
Speaker 4 (01:16):
I'll tell you, have you been anywhere or have you
come in contact with anyone who has not brought it up?
Speaker 3 (01:25):
Very few people.
Speaker 2 (01:27):
There have been a few, but they're not in tune
with the market anyway, so I wasn't surprised. But for
the most part, we'll talk about this at hand. I
think we do a good job of coaching and getting
people in tune with what they're doing. I know we
would get far less calls than a lot of financial.
Speaker 3 (01:43):
Firms because of that.
Speaker 2 (01:45):
But we'll talk about that today and what that looks
like and how you get your hands around what you're doing.
And yeah, this is not fun for anybody, but we'll
talk about the element of time and why that is
so critical that one doesn't make me your reactions, especially
if the timeline for needing this money is farther down
the road.
Speaker 5 (02:05):
Sure.
Speaker 4 (02:05):
Absolutely, well, again, it's great to have Kyle with us today. Kyle,
thanks so much for being a part.
Speaker 5 (02:10):
Of the show.
Speaker 3 (02:11):
Thank you so much. I'm happy to be here.
Speaker 5 (02:13):
Absolutely.
Speaker 4 (02:13):
So we're going to talk about this volatility in the
market and how how you handle this if you're somebody
who is getting very close to retirement or you're in retirement.
Let's take a look at how we have the show
laid out. We're going to talk about what happens with
the economy, what's happening in the markets, why this is happening,
why are tariffs affecting the markets the way that they are.
(02:35):
We'll also talk about improving strategies to mitigate any kind
of market risk that you may have. And then finally
we're going to talk about the role of a financial
advisor during these very turbulent times. I know that that's
the last segment we're going to talk about, but if
we could just jump there for just a brief moment,
it does seem to me that these are those moments,
(02:59):
whether again you're getting close to retirement or you're in retirement,
these are those moments when you probably feel more comfortable
with having a partner in this who can walk you through.
Would you, and I'm sure you guys.
Speaker 6 (03:13):
Agree absolutely, it's much more comfortable to be going into
something like this with turbulence and volatility and being able
to hold someone's hand who's going through it with you
and can help explain things and do some you know,
coaching through it to make sure that you're comfortable with
where everything is at and your risk profiles and your sustainability,
(03:37):
because these are turbulent times and it can be very
emotional to see accounts drop ten percent, you know, in
individual stocks dropping twenty to thirty percent, you know, if
you hold those types of things. So it's important to
make sure that you have a professional that you can
rely on and just discuss things with to make sure
(03:58):
that you're in a good spotsoutely and Cam.
Speaker 2 (04:00):
You know how I know this is true is because
early last week, with all the volatility we felt, the
team felt led to send out an email blast to
all of our Haven investors if you will, and I
got numerous feedback that, you know, thanks Larry for sending
that email blast out. The timing couldn't have been better,
(04:21):
and several of them said, there was this. Now, email
doesn't have any personality, but they set up an email
did have a personality. It had a calming effect, it
had a soothing effect, and it was just what they
needed at the time.
Speaker 3 (04:34):
Now, we don't pat ourselves on the.
Speaker 2 (04:36):
Back, but that is the kind of thing that a
partner that you can lean on can be or should
be doing in these times of volatility. Kyle said it
very well, a partner you can lean on because you know,
you stare at the ticker tape or if you watch
the news, what do you get a bunch of fear
after more fear and then more fear. So what's the
(04:56):
natural feeling? Oh my goodness, the world's falling apart and
we're in trouble. And that's where we try to do
a really good job.
Speaker 5 (05:03):
Well, I know you do.
Speaker 4 (05:04):
And if folks are listening this morning and you've been
thinking about, you know, partnering with someone who might guide
you through retirement and your retirement planning, and now these
things have happened and you're feeling very nervous, we want
to give you the phone number at six one two
five zero four A four zero zero. That's how you
(05:25):
reach the folks at Haven Financial Group throughout the course
of the morning. If some of this rings true for
you that we talk about, please feel free to call
that number, tell them that you heard us here on
the radio and set up an appointment to go in
and to chat with the experts there at Haven. Let's
let's back up, guys, and let's just talk about exactly
what is happening and what's happening in the economy. We
(05:46):
talk about the markets, and yes, the markets are important,
but you know this isn't This is an overall economic
effect that's taking place here. So let's first begin with
you know, we started to see this downturn and we
start to see things become very volatable, volatile, and the
uncertainty of the times really kicked in earlier this month
(06:10):
when these tariffs were announced. So Kyle walk us through
a little bit about what's been happening.
Speaker 6 (06:16):
Yeah, first off, the tariff announcement came at the end
of the day on April second of this month, and
Trump had announced a ten percent universal tariff on all
US imports, and following those there was reciprocal tariffs targeting
about ninety countries and there is specifically tariff targeting China
(06:40):
going back and forth between China and the US, and
the market had a reaction to that by by going
down in sequential days there you know, over five percent
a couple of days in a row, and then there
was there was a lot of volatility following that, and
then you know about a week later, there was a
(07:02):
huge update, one of the highest up days that the
market has seen of all time. So, as you know,
if you're watching the markets, there is so much turbulence
going on, and that's causing a lot of panic between
investors and clients of ours.
Speaker 3 (07:19):
Sometimes, you know.
Speaker 6 (07:20):
Were able to mitigate any potential risk profile changes by
just walking through these changes that's going on in the market.
But a couple of points that I like to tell
people is that the average market decline on any calendar
year is about fourteen percent if you go back forty years,
(07:43):
and in thirty four of those forty five years forty
five years actually, so thirty four of the forty five
years that calendar year ended up being positive. So we
want to make sure that we stay diversified and not
make any emotional decisions with what is going on externally.
And then another important piece to know is that in
(08:04):
seven of the ten worst days that the market has
in any calendar year, the seven out of ten times
the best days in that calendar year happened within two weeks.
So if that tells us anything, it just means that
we need to stay with what we're doing and not
be reacting to what is going on with tariff policy
(08:25):
or trades or anything like that, and just stay consistent.
Speaker 4 (08:31):
Well, I know that you guys have to be advising
people just that to stay away from this fear and
panic and to understand that now is certainly not the
time to do anything but hold tight. Have you had
a lot of people who have called and said, get
me out, get me out.
Speaker 2 (08:51):
We don't actually get that many calls compared to others,
I'm sure because of what we try to do proactively,
meaning let's get in the right place, when in the
right for the right time. You know this, we've seen
this before. This isn't something new. The market goes up
and it goes down. It's just in various sorts, you know,
and it's been very volatile. But this this isn't uncharted territory.
(09:14):
Why does it feel this way because it's now and
we forget about what it was in two thousand and
seven to two thousand and nine or nineteen ninety nine
to two thousand and one, and then we got spoiled
for all these years and people will focus on growth, growth, growth,
But you know what's the old sports saying defense wins
championships Now offense is important. Growth is important, don't get
me wrong. But as we plan and work with those
(09:38):
that are getting close to retirement or in retirement, and
the element of time becomes that much more important, it's
just as important proactively to be defend yourself, making sure
that you have a good balance, good diversification, because there's
gonna be worries, there's gonna be ups and downs. And
have we gotten some calls that say, Gibbie, I'll give
(09:58):
me out.
Speaker 3 (09:59):
Yes we have. Don't get me wrong.
Speaker 2 (10:00):
However, if your timeline isn't tomorrow or you're not drawing
off those investments now, it's painstaking for those that are
retired that are drawing on those accounts now, it is
I get it. But if your element of time is
you know, six months or a year, or five years
or ten years now, do not do anything crazy right now,
(10:23):
you know, stay the line. But do you have a
plan to begin with? Hope is not a plan, you know,
market volatility takes more than patients. It actually takes out
an outline plan that you can focus on. But if
you're listening right now and go, you know, up until
this point, I don't know if I really have a
plan or if I do have a plan, I don't
(10:43):
even know what it is. You know, most people that
we visit with, Kim, have no idea how much risk
they're taking until what happens. What's been going on? Oh
my goodness, Larry, it's been going up and down so much,
I can't believe it. Well, that should have been identified
proactively before something negative happens. And that's where I think
(11:04):
a good partner and a good advisor can really help
people out in that area. But sometimes people just don't
put the plan together. They're embarrassed, or some people think
they can do it themselves, and a lot of people can. However,
you don't have to be the expert, but you should
have some knowledge of what you're doing, and then have
(11:25):
a partner again to console and lean on in times
like this.
Speaker 3 (11:28):
For sure.
Speaker 5 (11:29):
Absolutely well.
Speaker 4 (11:30):
I love this concept of being proactive, which I think
you talk about each and every week, Larry. And that's
that we try to try to put your retirees, your
clients into positions where they can weather these kinds of storms.
And as we continue to chat this morning, we're going
to talk a little bit more about what some of
(11:51):
those ideas might be. Again, the number of six one
two five zero four eight four zero zero. You can
also go to Havenfinancialgroup dot com come to learn more.
When we come back, we're going to talk a little
bit more about the tariffs themselves and why they are
having such.
Speaker 5 (12:06):
An effect on the economy. This is the Haven Financial
Group Radio Show.
Speaker 1 (12:10):
Don't go too far. We're gathering more important insights and
retirement boys, Devin, the Haven Financial Group Radio Show. We'll
be right back. Stick around. You've got questions, We've got answers.
Your tune to the Haven Financial Group Radio Show with
your host Larry Kulvig and Kim Karrigan. Now back to
(12:30):
the show.
Speaker 2 (12:32):
Good morning once again, and welcome to the Haven Financial
Group Radio Show. I'm Larry Klvig, founder and CEO of
the Haven Financial Group, on with Kyle Thomas, a certified
financial planner on the Haven Investment Team, talking about the markets,
talking to you every week about what's going on. You
know the rules and what's changed, what's not changed. Feel
free if you're listening to give us a call at
(12:54):
six' one two five zero four eight for zero zero
or visit.
Speaker 3 (12:58):
Us online At Haven Financial.
Speaker 2 (12:59):
Group check out all the classes again this, Week cam
we had A Wills trust And legacy planning with our
state planning, Partner carrie as, well.
Speaker 3 (13:10):
And we had seventy some.
Speaker 2 (13:11):
People the room was, full which means education is so
very important and we value that. EDUCATION i encourage any,
listeners current clients come on out attend any of our,
classes And i'd be, Remiss kim IF i didn't say
that we've been educating and doing this At. Haven it's
our ten year anniversary and we're, very very thankful for
the ten years we've had in order to serve the
(13:33):
amount of people that we.
Speaker 4 (13:33):
Have that's fantastic and congratulations to. You Kyle thomas is
also with us this. Morning he is A cfp on
the investment team there At. Haven, Gentlemen i'd like to
talk a little bit about what tariffs, are but let
me ask you this before we get into tariffs and
why they had the kind of effect that they. HAVE
(13:54):
i heard an economist talking about the fact, that you,
know a lot of what we're seeing is based on
uncertainty versus necessarily a tariff or what's happening.
Speaker 5 (14:07):
Exactly on the.
Speaker 4 (14:08):
Markets it's the uncertainty of, investors it's the uncertainty of
business people at this point about what direction we're going
in and what's going to. Happen are you hearing that same?
Thing are you feeling that same?
Speaker 6 (14:20):
WAY i absolutely feel that the unpredictability is a bigger
catalyst than the actual policies. Themselves and the stock market
is also forward, pricing and you can only price in
what the information is that's. Available and the information that's
available is limited because if all the information was, available,
(14:44):
well then this administration's hand would be. Shown and that's
part of the game, too because this is a trade,
war you could call, it, right and we don't want
to display what our moves would be because then we
lose our left. Bridge and so going into the tariffs,
themselves you know what is a. Tariff it's a tax
(15:07):
that a government places on a domestic company who imports.
Speaker 3 (15:11):
Goods so THE.
Speaker 6 (15:13):
Us companies would be taxed by purchasing goods From, china
Per se or any other, country and when the companies
bring the products into THE, us they have to pay
an extra cost when it crosses the, border, right and
that can reduce profit margins if it's not fully passed
on to the, consumer which some, companies you, know they'll
try to pass on as much as they can to the,
(15:35):
consumer but there's also price sensitivity where they can't necessarily
do all of, that and then that impacts supply chains as.
Well and you, know if prices go, up demand can go,
down which lowers profit and that's kind of the cycle
for what we're seeing in the markets right now with
the lower profits and lower profit. Margins that's lowering the
(15:56):
stock prices of these. Companies and until we get some
more consistency with knowing what the tariff trade is going to,
bring you know that we're probably going to remain in
that volatile.
Speaker 4 (16:11):
SPHERE a lot of people talking about recession and. Recessions you,
know typically you don't know you're in a recession until
you're you're already in it or you've even gotten out of,
it and then you realize that times were a. Recessionary
what exactly is a recession and how would this tariff
situation affect the country's economy in such a way that
(16:33):
we would go into.
Speaker 6 (16:34):
Recession, historically a recession is defined as two negative quarters OF,
gdp and right now we had one negative, QUARTER i,
believe so we're still waiting to see a second quarter,
there BUT i don't think we're in a recession right.
(16:56):
Now like you, said you, know sometimes you look back
on it and then you're, realized, oh that was a.
Recession and there's some you, know prominent banks out. THERE
Jp morgan a week or so ago up to their
recession risk to sixty. Percent Goldman sachs is at about
thirty five. Percent now keep in mind this was Before
trump announced the, pause the ninety day pause on those,
(17:19):
tariffs so that can change things quite a. Bit we're
in an unusual spot right now where the flip of
a switch can directly impact the global landscape of. Everything
SO i think we're in a good spot to not
get actually go into a. Recession but there are still
(17:40):
some risks, there and that not all that's actually because
of the. Tariffs there was a whole lot of other
stuff before that that was leading us into that. Zone you,
know there was all these indicators that companies put, out
and we were in a warning state for a lot
of those indicators before The trump administration and even took.
Speaker 4 (18:00):
Office so in the, end now let's draw all this
back to a. Retiree so if you're someone who's getting
ready to retire or you are in retirement and we
suddenly have another quarter of a lack of growth in the.
Economy what are some of the steps that you would
start to advise those clients to take to make sure
(18:24):
that number, one they can retire on, time let's say
it's in the next four or five, years or those
who are in retirement can continue to feel comfortable and.
Speaker 2 (18:34):
Safe, well first, off we're not going to change our
process At, haven whether the markets are up and volatile
or they're really really, Calm we're going to run through
the same process we do with. Everybody you, know a
discovery meaning of what they're. Doing do they have a?
Plan what is the? Plan or come up with a
plan or a. Strategy from that point even, now have
(18:56):
a good understanding of why you're not well, positioned why
you know you should change your positions and. Carefully obviously
with the markets you want to don't want to be crazy,
decisions but if you don't have a, plan you really
don't have any thing to work from, anyways and then
we help people implement and then monitor and adjust as
we go through these. Times you, know WHAT i would
(19:17):
say to listeners, is you, know there's there's so much
information out there information here. Information there's a social, media you,
Know twitter and all this stuff out.
Speaker 3 (19:27):
There i'll give you an.
Speaker 2 (19:28):
Example over the, WEEKEND i went to my suit, fitter
a third generation place In Bill's toggery and shockapye a
little plug for.
Speaker 3 (19:35):
Them AND i tell you, what third.
Speaker 2 (19:36):
GENERATION i love, to you, know work with people that
have been, around And i'm very. Loyal AND i was
talking to him and he, said you, know this morning he.
GOES i talked to my guy and he said that
he had this news THAT i. HEARD i heard nothing.
About SO i went home And i'm, like how is.
IT i haven't heard anything About. Trump Just friday, Night
(19:57):
trump stopped some of the things FOR ai and iPhones
and all this. Stuff he, goes the market's going to
go crazy On monday. Morning, WELL i didn't see anything
about it UNTIL i saw a thing about fake. News
about fake news came out and spread, something and ACTUALLY
i think a couple of the networks actually came out
and apologize for bad. Information and you, know people get
(20:21):
so caught up in all this stuff and then they're.
Consumed the behavior changes and then they you, know things
go up and down so fast just on. INFORMATION a
lot of it's not even accurate. Information SO i cautioned
people by burying your head and THE.
Speaker 3 (20:35):
Tv and the.
Speaker 2 (20:36):
Radio AND i do thank you for, listening of, course
but you have to be careful and. CAUTIOUS i mean
we have to HAVE i always, say, faith not. Fear
THE us ECONOMY i think is still. Strong it has
been and will continue to. Be and you got to
put hope into, something but, again don't use hope as your.
Plan come up with a, plan work from. It and
(20:57):
AGAIN i can't stress. Enough have somebody that you can
lean on that in these times, Especially and people always, ask,
well are you reaching out to your folks during these?
Speaker 3 (21:07):
Times of course we, are but not just these.
Speaker 2 (21:10):
Times we always say that retirement is more than a
meeting once or twice a year for thirty to forty
five too minutes to an. Hour you, know you AND
i talk every week about all the retirement puzzle. Pieces
yes we're talking investments, today but we just got off.
That we just got the tax deadline last. Week the
insurance and all the things we talk. About all these
pieces go into. Retirement do you have all the pieces
(21:34):
or are you missing some or are you missing a?
Partner that guess what it doesn't cost you to come
in and visit with. Us you might be surprised we
might be exactly who you were looking.
Speaker 5 (21:44):
For so we've.
Speaker 4 (21:47):
Talked about the idea that you must have a, plan
and that plan needs to be proactive, versus you, know
trying to be reactive to these kinds of volatile. Times
as we, said these storms. Happen they happen more frequently
than any of us really would like for it to
be the. Case but when we come, back we want
to talk a little bit more about what some of
those strategies might be to mitigate market.
Speaker 5 (22:09):
RISK i know that you.
Speaker 4 (22:12):
Know you guys have said you're not going to change
your strategy when it comes to your clients and putting
together their, Plans but we'd like to hear a little
bit more about what some of those plans. Are how
you put together a retirement plan that can go as
unscathed as possible in these pretty crazy. Times we'll call
(22:34):
it that six one two five zero four eight for zero.
Zero that is the telephone. Number that's how you reach
the books That Haven Financial.
Speaker 5 (22:41):
Group when we come, back let's talk.
Speaker 4 (22:43):
About some of those strategies to mitigate that market.
Speaker 5 (22:46):
Risk this is The Haven Financial Group.
Speaker 7 (22:48):
Breakership.
Speaker 1 (22:50):
Ready to find your financial safe. Haven your dream retirement
is in. Reach don't go, Away The Haven Financial Group
Radio show will be right. Back are you worried that
your financial strategy might be missing, Something, well you're in
the right. Place Larry colvig is back and ready to
help you find your financial safe.
Speaker 2 (23:11):
Haven good morning once, again and welcome to The Haven
Financial Group Radio. Show I'm Larry, kolvig founder AND ceo
of The Haven Financial group and on With Kyle, thomas
Certified Financial planner on The Haven Investment, team sharing his
thoughts exactly today as.
Speaker 3 (23:27):
Well they're very.
Speaker 2 (23:29):
Volatile it's painstaking for a lot of listeners that are
in retirement. Going AM i in? Trouble how long is
my money going to? Last what DO i? Do panic
is almost set in and no better time than now
to come on in and visit and it maybe get
a second opinion or getting any opinion that you may
have not gotten quite a long period of time in
(23:50):
any of these retirement. Areas so feel free to give
us a call at six point two five oh four
eighty four.
Speaker 3 (23:55):
Hundred get on our. Calendar we look forward to.
Speaker 4 (23:57):
It larry you've said that you guys aren't going to
change your, strategies that you're going to keep moving forward
with the way that you always prep people to go into.
Speaker 5 (24:06):
Retirement so let's talk.
Speaker 4 (24:07):
About what some of those strategies, are because clearly you
are trying to mitigate any kind of market volatility with
every client who comes through the.
Speaker 2 (24:15):
Door, Yeah i'll start fundamentally Before kyle jumps in. Here you,
KNOW i talk about in a half for years about
having good. Liquidity this time right now is. Why so
you're not having to draw on investments that are going
to the wrong. Direction so good, LIQUIDITY i can tell
you most people don't have ten thousand liquid and everything
at risk in the stock. Market and somehow that's a
(24:37):
good recipe for going into. Retirement and if you're listening
and that was, you that isn't a good recipe because
now you know why you're having to draw off investments
that are going down rather than tapping into liquid monies
to get you through these. Times SO i say this
as a kind of a benchmark in our, industry we
like to see for a retired middle sixties at least
(24:58):
fifty to one hundred grand with maybe you need, more.
Speaker 3 (25:01):
Probably shouldn't have.
Speaker 2 (25:02):
Less And i'll tell you a high, percentage don't even
have ten thousand the risk in the market we manage
With Charles schwab And, fidelity there's other good. Platforms there's
nothing wrong with, risk but how much risk do you truly?
Have i'll tell you eighty percent of the folks we,
Said kyle nine and the rest of the team sit
down with they have no idea that is a that's
(25:23):
not a good recipe. Either and then what about investments
that can give you as much upside but they don't
have any downside? Risk do you have any of those
in the? Portfolio so we're talking through. THOSE a good,
balanced effiicient portfolio is so. Important and that's just the.
Fundamentals some other financial folks ON tv and others they
(25:45):
call it the bucket. Strategy, sure you can call it
whatever you, want but having a good balance of, liquidity
risk and principle protected investments.
Speaker 5 (25:54):
Fantastic.
Speaker 4 (25:55):
Kyle let's talk about some of the strategies and good
places where people could have their money, now where they
could feel somewhat, comfortable and we'll start with.
Speaker 6 (26:03):
Annuities annuities are a great place to park, money to
make sure that you're feeling. Comfortable Like larry was, mentioning
there's some products out there that have no downside. Risk,
well depending on the type of the annuity that you,
have that is that's true for these types of products
and the annuities that we use in our, portfolios they
(26:24):
don't have downside, risk so They actually the way THAT
i classify our investments is, stability, safety and. Risk so
stability that's more of the, bonds and then the, safety
which is the annuity, piece and then the, risk which is.
Stocks SO i like to allocate across all three of
those because again, diversification, right and that annuity takes up
(26:49):
a nice. Chunk it's part of the bond, allocation but
it's the safety allocation inside the complete. Portfolio and then
on the stability, side you, know the. Bonds not all
diversification within the asset classes needs to just be with.
Stocks we want diversification within bonds as, well you, know
whether that be short term, bonds intermediate BONDS, tips which
(27:11):
is treasury inflation protected securities great in times of higher,
inflation and specifically right now, too because inflation is still
high versus the long term. Averages and then global bonds as.
Well you want all of those in there because they
all perform differently and they all have characteristics that we
want in the. Portfolio and then lastly is the, stocks
(27:32):
where obviously we want, diversification you, know typically large large cap,
stocks small cap, stocks large, value small, value, international emerging.
Markets we want all of those because if you look,
back you, know across a twenty year time, horizon all
of those asset classes each had a year where they
(27:54):
were the best performing. One we just don't know when
that's going to, be and that's why we want all
of them a wee can rebalance effectively and take advantage
of all of.
Speaker 4 (28:03):
Them and obviously those are that's the part of your
portfolio right now that you just need to not pay attention.
To right turn your head and don't look look away
if you possibly.
Speaker 5 (28:14):
Can, yeah cam.
Speaker 2 (28:15):
OUT i want to touch on that, though Because i've
done this a long. Time, yeah maybe not want to
look at but you do want to pay. ATTENTION i
remember in two thousand and, eight Before haven was even,
STARTED i was with a different company AND i remember
going To shar visiting With shar From. Egan she's retired
now and been with me for, years AND i remember
(28:38):
visiting with her the first. Time the market was going
into the wrong direction and she. GOES i called my
guy and he told, me don't even open up the.
Mail SO i didn't take her literally UNTIL i visited
with her at her house back in two thousand and,
eight and she brought out a whole stack of envelopes
and she listened to her, advisor which in this, CASE
i don't know if that was really, smart and she
(29:00):
had stacks of.
Speaker 3 (29:01):
Envelopes she never opened her.
Speaker 2 (29:02):
Mail, well needless to, say back in two thousand and,
eight we got her in the right, spot and she's
in the right spot. Today but you have to be
aware of what you're, doing so you don't want to
bury your head in the. Sand And i'm going to
comment just on What kyle was saying about. Annuities, listeners
you can go to my website come out To Porter
creek next month WHEN i teach the truth about, annuities
(29:23):
BECAUSE i think it should start with education because there's
a lot of. MARKETING i hate. Annuities you should hate.
Annuities everybody should do. This this this. Well they can
be very powerful if used. Properly they don't have to be,
used but if they can be used very, Effectively, however
be careful because just this past WEEK i sat down
(29:44):
with a engineer From. Medtronic great, job but he openly
was honest and, said you know this investment and money.
Thing even though him and his wife have done a great,
job they really didn't have a. Plan he had a
variable annuity which he didn't know, why said it was never.
Performing he turned on an income stream while he was
working and makes good, money completely the wrong. Decision he
(30:08):
was paying three and three quarter percent annual fees and he,
GOES i, go why are you doing?
Speaker 3 (30:13):
This he, GOES i have no.
Speaker 2 (30:14):
IDEA i showed him HOW i could get him out of,
it negate the fees and help in a variety of.
Areas the problem is he got into something he didn't
understand and that is not a good.
Speaker 3 (30:26):
Thing, again come out to the. Class it's very.
Speaker 2 (30:29):
Informative you don't have to have, annuities But kyle and
the team would agree that they can be used, effectively
either for income guarantees or bond, replacements or they can
even be used for some long term care. Provisions but
it needs to be suitable to your needs and what
your goals and long term goals and objectives.
Speaker 4 (30:49):
Are so you mentioned long term care and that was
going to be the next question THAT i. Asked what
about when, again we're trying to protect our, portfolios what
about an insurance products at this?
Speaker 3 (31:01):
Time, well insurance.
Speaker 2 (31:03):
Products all annuities are insurance. Products AND i bet you
some listeners, GO i didn't know that all annuities come
from insurance. Companies, All, okay they're the only companies that
in fixed accounts can give. Guarantees they're the only. Ones
we may not like them because but they have the.
Money so insurance products can be. Used annuities can be,
used universal, life life insurance can be. USED a variety
(31:27):
of different things can be. Used the question is are
they appropriate for your? Situation because many times what we
see is some things that are recommended are not, appropriate
and then it defeats the purpose of what you're trying to,
accomplish and we don't want that, Either.
Speaker 5 (31:44):
Kyle are you moving people's money around right?
Speaker 3 (31:46):
Now?
Speaker 6 (31:47):
Absolutely and, well it depends on what you mean by moving,
around because we're.
Speaker 3 (31:51):
Not we're not moving risk.
Speaker 6 (31:53):
Profile so if someone was fifty to, fifty you, know
fifty percent stocks and fifty percent bonds and. Annuity we're
not moving them down to you, know thirty percent stocks
and then seventy percent bonds and. Annuity we're keeping them
at that fifty to. Fifty but we're changing the investments
when within those asset, classes and that's, rebalancing and we're
(32:16):
doing that because the values in each of those asset
classes is changing quite a bit right now with the market.
Fluctuations so that's that's exactly what we're moving.
Speaker 4 (32:26):
Around, gentlemen are you suggesting to any of your clients
right now to reallocate dollars in.
Speaker 2 (32:32):
Buy you, know that is a good point you make
him because we like to think of the negative of the,
market and the opposite can be true if you're sitting
with a lot of cash on the. Sidelines we're talking about, Opportunity.
Speaker 3 (32:46):
Kyle you, KNOW i believe you.
Speaker 2 (32:48):
Know just this last, week you, Know tesla was their
price was way. LOW i don't Think tesla's going anywhere
but up in the in the in the. FUTURE i
could be. Wrong i've been wrong many. Times we've been.
Wrong but there's great opportunities that come in times like.
Speaker 3 (33:04):
This great.
Speaker 2 (33:05):
Opportunity so if you have cash on the. Sidelines, hey
now might be the good. Time and you know timing
is the biggest, part timing to get out and timing
to get back.
Speaker 3 (33:14):
In there's some good buys out.
Speaker 2 (33:15):
There opportunity is, there and you, say, WELL i don't
have if you're, retired you don't have the, income you
don't have.
Speaker 3 (33:20):
The wherewithal to do. IT i get.
Speaker 2 (33:22):
It but if you're younger and you're not taking advantage of,
this people created wealth in two thousand and seven to
two thousand and, nine people also retired when three out
of five seniors had to go back to.
Speaker 3 (33:33):
Work but in that, timeframe.
Speaker 2 (33:35):
You, know we were all that much younger and we
created wealth if we were putting money. Away because now
we're buying low and over longer periods of. Time now
we see those things. Grow so that's a good, Point.
Kim it's an opportunity for many. People it isn't always, Negative.
Nelly on the other, side it can be a very good.
Speaker 4 (33:53):
Time six one two five zero four eight four zero.
Zero that's how you get hold of the experts At
Haven Financial.
Speaker 5 (34:00):
Group tell them you heard us here on the.
Speaker 4 (34:02):
Radio maybe you're looking, to you, know partner with someone
who can hold your. Hand maybe you've got some ideas
about your portfolio and you'd like to see if they're
they're the kind of moves that you should be making right.
Now six one two five zero four eight four zero.
Zero Also Haven financialgroup dot. Com That's Haven Financial group Dot.
(34:23):
Com go there to look up some of these educational
seminars that you've Heard larry talking about that are coming
up in the near. Future one of them coming up
very soon on annuities and education is the name of the, game,
folks so you'll want to check that. Out when we come,
back we're going to talk to you about the role
of a financial advisor during these tumultuous times and why
(34:44):
it's important to partner up with someone you. Trust this
is The Haven Financial Group Radio.
Speaker 1 (34:49):
Show don't go too. Far we're gathering more important insights
and retirement. Ways The Haven Financial Group Radio show will
be right. Back stick. Around you've got, Questions we've got.
Answers your tune to The Haven Financial Group Radio show
with your, Host Larry kolvig And Kim. Karragan now back
(35:10):
to the.
Speaker 2 (35:10):
Show good, morning and welcome back to The Haven Financial
Group Radio.
Speaker 3 (35:15):
Show thanks for.
Speaker 2 (35:16):
Listening give us a call at six one two five
zero four eight four zero zero or online At havenfinancialgroup dot.
Com there's all kinds of retirement, tools are classes that are.
Upcoming feel free to attend Any all the materials are
provided and it truly is is. Educational we're not selling.
Anything at the end of the, day it's your, plan
(35:37):
whatever your plan. Is and, yes we've talked about all
the hype and everything that's going on with the markets
and the ups and the downs and the, opportunities and
again more than, Ever, kim and we're going to talk
about this. Segment who's working in your, side who's in your,
corner who's helping. You you, know retirement's more than just.
(35:57):
Money it's about having a, plan making, adjustments protecting what
you've worked hard.
Speaker 3 (36:03):
For and again a financial.
Speaker 2 (36:06):
ADVISOR i obviously we're, biased And haven's, biased BUT i
think it's it's appropriate and certainly could help a lot of.
Speaker 3 (36:14):
People.
Speaker 4 (36:15):
Well it's also a great partnership for trust and for,
comfort and.
Speaker 5 (36:20):
In these, TIMES.
Speaker 4 (36:22):
I think most people would say that they are looking
for that six one two five zero four eight four zero.
Zero Kyle thomas is also with. Us he's a certified financial,
planner on the investment team there At Haven. Kyle we're talking,
about you, know the role that a financial advisor can
play in someone's life during these volatile, times AND i
want TO i want to start right off the bat
(36:44):
with the idea that you guys in your office have
access to a lot of tools that could be of
great help to a. Client give us an idea of
what some of those might.
Speaker 6 (36:53):
Be, yeah we have many tools that we can. Use
And i'm just going to go back one quick second
to What larry was. Saying, yes we may be, biased
but there's also been studies conducted by Specifically. Vanguard it's
called The Vanguard Advisor's alpha and they found after doing
deep research that working with professional advisor can add over
(37:17):
three percent return to your. Portfolio and that's through all
these things that we'll talk about here coming. Up but
that three percent should more than outweigh what the fee
is that you're. Paying, so, yes we are biased, ourselves
but the research also backs that. Up so what are
some of the things that we do as? Advisors in
(37:39):
the first one is finding a portfolio and risk profile
that fits your. Needs when people come. In we don't
just slap a portfolio across their faces and say here's
what you're going to. Do there are firms that do,
that and that's not what we. Do we find a
tailored and customized portfolio that fits exactly for, them and
(38:00):
we talk about their risk profile on a, need willingness
and ability, basis and that that helps us nail down
what profile they should be. In you, know what the
time horizon is and all of. That, secondly you, know
we'll look at the retirement analysis and see what their
projections are and success rates for retirement and how much
(38:25):
they can spend for how long and and all of
that sustainability, stuff which is super important because you don't
want to you don't want to be short funded for
your retirement because people are living longer. Nowadays medical care
is getting a lot better and people people need to
be planning to live until their nineties because you don't
(38:45):
want to be short on. THAT a couple of other
things you know that we do is active rebalancing and
investment management and then tax planning withdrawal. Strategies so all
of that plays into that advisor alpha THAT i was talking,
about and it's super important to make sure that you're
working with an advisor that actually does all of those,
(39:07):
things because keep in, mind there's a lot of investment
firms that only do the investment piece of.
Speaker 4 (39:13):
That, sure another thing THAT i think you guys would
say is important during these volatile times is ongoing upkeep
to your. PORTFOLIO i mean, THERE i think there's a
lot of advisors out there who, Say, okay you've got
your portfolio and we'll see you in you, know five
years or, whatever and then we run into times like
(39:34):
these and maybe they have not.
Speaker 5 (39:37):
Adjusted that is not the way it have.
Speaker 6 (39:39):
It, no we actively manage these portfolios on a daily.
Basis so every morning THAT i come into the, office
one of the first things THAT i do IS i
sort all of the portfolios by their variance, degree and
that variance degree shows us how far off their portfolios
are from the tar. Targets so that way we're able
(40:02):
to literally see every single client's account and see how
far off from the targets that we set from our
initial meetings with, them and that will allow us to
make decisions on the. Portfolios and so that's just the
rebalancing piece of. It we have a whole other piece
of it where we have an investment committee where we're
talking about the actual pieces inside of that portfolio and
(40:23):
the investments that are in, there and we make decisions
on if we need to adjust those waitings and adjust
the actual investments. Themselves last year we made a couple
of changes that we saw forthcoming in the market and
based on macroeconomic, factors and it actually worked out pretty
well because we were ahead of the curve on those.
(40:45):
Things so we're monitoring things from investments individually inside the,
portfolios but also holistically with what the allocation.
Speaker 5 (40:54):
Is sure.
Speaker 2 (40:56):
Him IF i may add a phrase That kyle said
here a little bit, ago he, said the fee that you're.
Speaker 3 (41:01):
Paying if you're listening and.
Speaker 2 (41:05):
You have the idea that WHILE i work with so
and so and they're not charging me, ANYTHING i can
assure you that they are not working for. Free i've
heard it many. Times i'm not paying, anything so and
so is doing it for. Free that is not, HAPPENING
i guarantee. You, incidentally over the, years When i've asked,
folks you, know what are you paying your guy or
gala to manage your, money whoever's doing, THAT i usually
(41:26):
get eighty percent of the time the answer, is we
have no idea what we're. Paying that's a really good,
Question larry AND i believe everybody should know what they're.
Paying because it is twenty twenty. Five nothing is.
Speaker 3 (41:37):
Free but what are you getting for what you're? Paying
and if you ask.
Speaker 2 (41:42):
The question and they tiptoe around the, Answer i'd ask more.
Questions the reality is what are you? Getting are you
getting added? Value ongoing, support asset rebalancing. DISCUSSIONS i always
say there's no quote as to how many times people
can get. Together some people need more attention to get
that confidence that they. Deserve other people don't need as.
(42:02):
Much we're all, different and that's where we like to be,
proactive not. Reactive reactive in what we're doing here doesn't
bode well for your portfolio, usually and we look at
it At Haven Financial group from a holistic. Approach even
if we're not manager handling. Everything it's, okay we're not
an all or nothing, company but these things should be working.
(42:25):
Together if you have other investments somewhere. Else you, know
the old ada is THAT i don't want all my
money in the same, bucket SO i spread it out
over two or three different. Advisors, okay that's, fine but
a lot of times you're doing exactly the same thing
or polar, opposites and you're not looking at, holistically and
it's actually to a detriment of your overall portfolio or
your retirement.
Speaker 3 (42:46):
Plan so looking at it.
Speaker 2 (42:48):
Holistically and what's another thing that we're doing actively right.
Speaker 3 (42:51):
Now remember we do a lot with.
Speaker 2 (42:53):
Taxes you, know tax season just got over lance OUR,
cpa but the investment team tax loss, Harvesting, okay for tax.
Reasons it's, ongoing especially with these big ups and, downs
to do tax loss, harvesting cast something in and negative
and have it a positive outlook on your income tax
(43:15):
we're doing. That is whoever you're working with really taking
this all inclusive approach or this holistic.
Speaker 3 (43:21):
Approach many.
Speaker 2 (43:22):
Aren't and if you're truly doing retirement planning and really
dealing with all these puzzle, pieces you really need to
have all the pieces to the, puzzle not just a.
Speaker 4 (43:32):
Couple, sure, absolutely and, finally and this doesn't make people,
soft and this doesn't this is certainly another. Criticism but
in these difficult, times and we talked about this off the,
top and it's worth, repeating people need someone to support,
them to make them feel, better to emotionally keep them in,
check use.
Speaker 5 (43:52):
Guardrails sometimes we.
Speaker 4 (43:54):
Need this from the, outside AND i think this is
a service that a financial advisor can provide if they're
that kind of.
Speaker 3 (44:02):
Firm, yes comfort and.
Speaker 6 (44:05):
Knowing that you're gonna be okay is super, important and
that sometimes that's all people need to, hear is, that,
hey you're going to be. Okay and the meetings that
we've had over the last two months since the market
started getting more, volatile you, know we've been rerunning these
retirement reviews and analysis and showing that through these thousand
(44:26):
trials that we ran a year, ago well maybe it's
only down one, percent or maybe it's not even down at,
All and so that alone just shows them that they're
perfectly fine with how everything's going and even with how
the market's, performing.
Speaker 3 (44:43):
Because we had those.
Speaker 6 (44:44):
Years the year that we're seeing right, now we had
that planned in to the retirement analysis in the first,
place so we were stress testing it from the very,
beginning and we knew that it was going to be
okay if something like this happened.
Speaker 2 (45:00):
And something couples come in and imagine. This couples can
have differences of. Opinion imagine that where when one spouse
may love the risk and is okay with it and
doesn't get all, rattled and the spouse is, just oh my, goodness, honey.
Speaker 3 (45:15):
We're in, trouble and it's just.
Speaker 2 (45:16):
Worried and as much as the one spouse can tell the, other,
honey we're, okay everything's going to be, fine they need
to hear it from a third, party which is oftentimes,
us and they, go, okay now we feel better about.
It so you, know, ultimately us as advisors in the,
industry we need to bring clarity and. Calmness we don't
want to sugarcoat the. Reality, okay reality is, reality but you,
(45:41):
know when everything is unpredictable and all the fear of
the news is everything that people focus. On you, know
we want what really, matters focusing on your, retirement your
life in, retirement and what does that look like as
you planned. It but if you're listening and don't have a, Plan,
okay if you don't have a, Plan i'm telling you
hope is not a. Plan you need to do, it
(46:02):
whether with, somebody and there's no better time to do
it than starting right. Now it sounds it sounds obviously,
sales but at the end of the, day it'll only
better you and your retirement decisions and your retirement. Years
AND i think that's what most people are looking.
Speaker 5 (46:17):
FOR i think you're absolutely. Right they're looking for a
good night's, Sleep. Larry for, sure sleeping, cheerios you.
Speaker 4 (46:23):
Bet six one two five zero four eighty four hundred
is the. Number that's how you get hold of the
folks there At Haven Financial.
Speaker 5 (46:30):
Group call and set up an. Appointment it costs you.
Speaker 4 (46:32):
Nothing go, in sit down with their experts and tell
them where you are in this, process how you're, feeling
and see if you are a perfect fit for, them
and vice. Versa six one two five zero four eight
four zero. Zero check Out evenfinancialgroup dot com as. Well
those educational seminars coming. Up they are open to the,
public but they do need account and you Heard larry
(46:54):
say there were seventy some other people at the one
they gave last, week so they do fill up very. Quickly,
gentlemen this has been a real eye opener and really. Enlightening,
kyle thank you very much for being part of the.
Speaker 3 (47:05):
Show thank, You, kim great to be with.
Speaker 2 (47:08):
You we look forward to next week and let's go
with confidence in the upcoming.
Speaker 3 (47:12):
Week how about that that sounds.
Speaker 7 (47:13):
Great investment advisory service is offered Through Guardian Well STRATEGIES.
Llc Haven Financial group And Guardian Well STRATEGIES llc are
not affiliated, companies and investments involve, risk, and unless otherwise,
stated are not. Guaranteed please consult with the qualified financial
advisor and or tax professional before implementing any strategy discussed
(47:34):
herein and comments regarding it safe and. Secure investments and
guaranteed income streams only refer to fixed insurance. Products they
do not refer in any way to securities or investment advisory.
Products fixed insurance and annuity product guarantees are subject to
the claims paying ability of the issuing.
Speaker 3 (47:49):
Company
You worked hard for your money, but do you know
how to make it work hard for you. You need
a team with experience, vigilance, and a strategy to help
you live the retirement you deserve. Find your financial safe
haven with Haven Financial Group. Today, you're listening to the
new and improved Haven Financial Group Radio Show, where we
bring you comprehensive weekly financial wisdom from the professionals. It's
(00:23):
all about helping you solve retirement problems so you can
make your nest egg last. Your tune to the Haven
Financial Group Radio Show with your host Larry Kolvig and
Kim Karrigan your guides to weekly retirement confidence. If you're
interested in protecting and growing what you have, let us
be your financial safe haven. The full nines are always
(00:43):
open at six point two, five oh four eighty four hundred.
Now get your financial questions ready because the Haven Financial
Group Radio Show starts now.
Speaker 2 (00:54):
Good morning, and welcome to the Haven Financial Group Radio Show.
I'm Larry Kolvig, Founder and see of the Haven Financial Group.
With us today we also have Kyle Thomas, a certified
financial planner on the Haven Investment Team.
Speaker 3 (01:07):
Kim Good to be with you the markets.
Speaker 2 (01:09):
We got a lot to talk about today, and people
they don't stop talking with all that's been going on
the last several weeks.
Speaker 4 (01:16):
I'll tell you, have you been anywhere or have you
come in contact with anyone who has not brought it up?
Speaker 3 (01:25):
Very few people.
Speaker 2 (01:27):
There have been a few, but they're not in tune
with the market anyway, so I wasn't surprised. But for
the most part, we'll talk about this at hand. I
think we do a good job of coaching and getting
people in tune with what they're doing. I know we
would get far less calls than a lot of financial.
Speaker 3 (01:43):
Firms because of that.
Speaker 2 (01:45):
But we'll talk about that today and what that looks
like and how you get your hands around what you're doing.
And yeah, this is not fun for anybody, but we'll
talk about the element of time and why that is
so critical that one doesn't make me your reactions, especially
if the timeline for needing this money is farther down
the road.
Speaker 5 (02:05):
Sure.
Speaker 4 (02:05):
Absolutely, well, again, it's great to have Kyle with us today. Kyle,
thanks so much for being a part.
Speaker 5 (02:10):
Of the show.
Speaker 3 (02:11):
Thank you so much. I'm happy to be here.
Speaker 5 (02:13):
Absolutely.
Speaker 4 (02:13):
So we're going to talk about this volatility in the
market and how how you handle this if you're somebody
who is getting very close to retirement or you're in retirement.
Let's take a look at how we have the show
laid out. We're going to talk about what happens with
the economy, what's happening in the markets, why this is happening,
why are tariffs affecting the markets the way that they are.
(02:35):
We'll also talk about improving strategies to mitigate any kind
of market risk that you may have. And then finally
we're going to talk about the role of a financial
advisor during these very turbulent times. I know that that's
the last segment we're going to talk about, but if
we could just jump there for just a brief moment,
it does seem to me that these are those moments,
(02:59):
whether again you're getting close to retirement or you're in retirement,
these are those moments when you probably feel more comfortable
with having a partner in this who can walk you through.
Would you, and I'm sure you guys.
Speaker 6 (03:13):
Agree absolutely, it's much more comfortable to be going into
something like this with turbulence and volatility and being able
to hold someone's hand who's going through it with you
and can help explain things and do some you know,
coaching through it to make sure that you're comfortable with
where everything is at and your risk profiles and your sustainability,
(03:37):
because these are turbulent times and it can be very
emotional to see accounts drop ten percent, you know, in
individual stocks dropping twenty to thirty percent, you know, if
you hold those types of things. So it's important to
make sure that you have a professional that you can
rely on and just discuss things with to make sure
(03:58):
that you're in a good spotsoutely and Cam.
Speaker 2 (04:00):
You know how I know this is true is because
early last week, with all the volatility we felt, the
team felt led to send out an email blast to
all of our Haven investors if you will, and I
got numerous feedback that, you know, thanks Larry for sending
that email blast out. The timing couldn't have been better,
(04:21):
and several of them said, there was this. Now, email
doesn't have any personality, but they set up an email
did have a personality. It had a calming effect, it
had a soothing effect, and it was just what they
needed at the time.
Speaker 3 (04:34):
Now, we don't pat ourselves on the.
Speaker 2 (04:36):
Back, but that is the kind of thing that a
partner that you can lean on can be or should
be doing in these times of volatility. Kyle said it
very well, a partner you can lean on because you know,
you stare at the ticker tape or if you watch
the news, what do you get a bunch of fear
after more fear and then more fear. So what's the
(04:56):
natural feeling? Oh my goodness, the world's falling apart and
we're in trouble. And that's where we try to do
a really good job.
Speaker 5 (05:03):
Well, I know you do.
Speaker 4 (05:04):
And if folks are listening this morning and you've been
thinking about, you know, partnering with someone who might guide
you through retirement and your retirement planning, and now these
things have happened and you're feeling very nervous, we want
to give you the phone number at six one two
five zero four A four zero zero. That's how you
(05:25):
reach the folks at Haven Financial Group throughout the course
of the morning. If some of this rings true for
you that we talk about, please feel free to call
that number, tell them that you heard us here on
the radio and set up an appointment to go in
and to chat with the experts there at Haven. Let's
let's back up, guys, and let's just talk about exactly
what is happening and what's happening in the economy. We
(05:46):
talk about the markets, and yes, the markets are important,
but you know this isn't This is an overall economic
effect that's taking place here. So let's first begin with
you know, we started to see this downturn and we
start to see things become very volatable, volatile, and the
uncertainty of the times really kicked in earlier this month
(06:10):
when these tariffs were announced. So Kyle walk us through
a little bit about what's been happening.
Speaker 6 (06:16):
Yeah, first off, the tariff announcement came at the end
of the day on April second of this month, and
Trump had announced a ten percent universal tariff on all
US imports, and following those there was reciprocal tariffs targeting
about ninety countries and there is specifically tariff targeting China
(06:40):
going back and forth between China and the US, and
the market had a reaction to that by by going
down in sequential days there you know, over five percent
a couple of days in a row, and then there
was there was a lot of volatility following that, and
then you know about a week later, there was a
(07:02):
huge update, one of the highest up days that the
market has seen of all time. So, as you know,
if you're watching the markets, there is so much turbulence
going on, and that's causing a lot of panic between
investors and clients of ours.
Speaker 3 (07:19):
Sometimes, you know.
Speaker 6 (07:20):
Were able to mitigate any potential risk profile changes by
just walking through these changes that's going on in the market.
But a couple of points that I like to tell
people is that the average market decline on any calendar
year is about fourteen percent if you go back forty years,
(07:43):
and in thirty four of those forty five years forty
five years actually, so thirty four of the forty five
years that calendar year ended up being positive. So we
want to make sure that we stay diversified and not
make any emotional decisions with what is going on externally.
And then another important piece to know is that in
(08:04):
seven of the ten worst days that the market has
in any calendar year, the seven out of ten times
the best days in that calendar year happened within two weeks.
So if that tells us anything, it just means that
we need to stay with what we're doing and not
be reacting to what is going on with tariff policy
(08:25):
or trades or anything like that, and just stay consistent.
Speaker 4 (08:31):
Well, I know that you guys have to be advising
people just that to stay away from this fear and
panic and to understand that now is certainly not the
time to do anything but hold tight. Have you had
a lot of people who have called and said, get
me out, get me out.
Speaker 2 (08:51):
We don't actually get that many calls compared to others,
I'm sure because of what we try to do proactively,
meaning let's get in the right place, when in the
right for the right time. You know this, we've seen
this before. This isn't something new. The market goes up
and it goes down. It's just in various sorts, you know,
and it's been very volatile. But this this isn't uncharted territory.
(09:14):
Why does it feel this way because it's now and
we forget about what it was in two thousand and
seven to two thousand and nine or nineteen ninety nine
to two thousand and one, and then we got spoiled
for all these years and people will focus on growth, growth, growth,
But you know what's the old sports saying defense wins
championships Now offense is important. Growth is important, don't get
me wrong. But as we plan and work with those
(09:38):
that are getting close to retirement or in retirement, and
the element of time becomes that much more important, it's
just as important proactively to be defend yourself, making sure
that you have a good balance, good diversification, because there's
gonna be worries, there's gonna be ups and downs. And
have we gotten some calls that say, Gibbie, I'll give
(09:58):
me out.
Speaker 3 (09:59):
Yes we have. Don't get me wrong.
Speaker 2 (10:00):
However, if your timeline isn't tomorrow or you're not drawing
off those investments now, it's painstaking for those that are
retired that are drawing on those accounts now, it is
I get it. But if your element of time is
you know, six months or a year, or five years
or ten years now, do not do anything crazy right now,
(10:23):
you know, stay the line. But do you have a
plan to begin with? Hope is not a plan, you know,
market volatility takes more than patients. It actually takes out
an outline plan that you can focus on. But if
you're listening right now and go, you know, up until
this point, I don't know if I really have a
plan or if I do have a plan, I don't
(10:43):
even know what it is. You know, most people that
we visit with, Kim, have no idea how much risk
they're taking until what happens. What's been going on? Oh
my goodness, Larry, it's been going up and down so much,
I can't believe it. Well, that should have been identified
proactively before something negative happens. And that's where I think
(11:04):
a good partner and a good advisor can really help
people out in that area. But sometimes people just don't
put the plan together. They're embarrassed, or some people think
they can do it themselves, and a lot of people can. However,
you don't have to be the expert, but you should
have some knowledge of what you're doing, and then have
(11:25):
a partner again to console and lean on in times
like this.
Speaker 3 (11:28):
For sure.
Speaker 5 (11:29):
Absolutely well.
Speaker 4 (11:30):
I love this concept of being proactive, which I think
you talk about each and every week, Larry. And that's
that we try to try to put your retirees, your
clients into positions where they can weather these kinds of storms.
And as we continue to chat this morning, we're going
to talk a little bit more about what some of
(11:51):
those ideas might be. Again, the number of six one
two five zero four eight four zero zero. You can
also go to Havenfinancialgroup dot com come to learn more.
When we come back, we're going to talk a little
bit more about the tariffs themselves and why they are
having such.
Speaker 5 (12:06):
An effect on the economy. This is the Haven Financial
Group Radio Show.
Speaker 1 (12:10):
Don't go too far. We're gathering more important insights and
retirement boys, Devin, the Haven Financial Group Radio Show. We'll
be right back. Stick around. You've got questions, We've got answers.
Your tune to the Haven Financial Group Radio Show with
your host Larry Kulvig and Kim Karrigan. Now back to
(12:30):
the show.
Speaker 2 (12:32):
Good morning once again, and welcome to the Haven Financial
Group Radio Show. I'm Larry Klvig, founder and CEO of
the Haven Financial Group, on with Kyle Thomas, a certified
financial planner on the Haven Investment Team, talking about the markets,
talking to you every week about what's going on. You
know the rules and what's changed, what's not changed. Feel
free if you're listening to give us a call at
(12:54):
six' one two five zero four eight for zero zero
or visit.
Speaker 3 (12:58):
Us online At Haven Financial.
Speaker 2 (12:59):
Group check out all the classes again this, Week cam
we had A Wills trust And legacy planning with our
state planning, Partner carrie as, well.
Speaker 3 (13:10):
And we had seventy some.
Speaker 2 (13:11):
People the room was, full which means education is so
very important and we value that. EDUCATION i encourage any,
listeners current clients come on out attend any of our,
classes And i'd be, Remiss kim IF i didn't say
that we've been educating and doing this At. Haven it's
our ten year anniversary and we're, very very thankful for
the ten years we've had in order to serve the
(13:33):
amount of people that we.
Speaker 4 (13:33):
Have that's fantastic and congratulations to. You Kyle thomas is
also with us this. Morning he is A cfp on
the investment team there At. Haven, Gentlemen i'd like to
talk a little bit about what tariffs, are but let
me ask you this before we get into tariffs and
why they had the kind of effect that they. HAVE
(13:54):
i heard an economist talking about the fact, that you,
know a lot of what we're seeing is based on
uncertainty versus necessarily a tariff or what's happening.
Speaker 5 (14:07):
Exactly on the.
Speaker 4 (14:08):
Markets it's the uncertainty of, investors it's the uncertainty of
business people at this point about what direction we're going
in and what's going to. Happen are you hearing that same?
Thing are you feeling that same?
Speaker 6 (14:20):
WAY i absolutely feel that the unpredictability is a bigger
catalyst than the actual policies. Themselves and the stock market
is also forward, pricing and you can only price in
what the information is that's. Available and the information that's
available is limited because if all the information was, available,
(14:44):
well then this administration's hand would be. Shown and that's
part of the game, too because this is a trade,
war you could call, it, right and we don't want
to display what our moves would be because then we
lose our left. Bridge and so going into the tariffs,
themselves you know what is a. Tariff it's a tax
(15:07):
that a government places on a domestic company who imports.
Speaker 3 (15:11):
Goods so THE.
Speaker 6 (15:13):
Us companies would be taxed by purchasing goods From, china
Per se or any other, country and when the companies
bring the products into THE, us they have to pay
an extra cost when it crosses the, border, right and
that can reduce profit margins if it's not fully passed
on to the, consumer which some, companies you, know they'll
try to pass on as much as they can to the,
(15:35):
consumer but there's also price sensitivity where they can't necessarily
do all of, that and then that impacts supply chains as.
Well and you, know if prices go, up demand can go,
down which lowers profit and that's kind of the cycle
for what we're seeing in the markets right now with
the lower profits and lower profit. Margins that's lowering the
(15:56):
stock prices of these. Companies and until we get some
more consistency with knowing what the tariff trade is going to,
bring you know that we're probably going to remain in
that volatile.
Speaker 4 (16:11):
SPHERE a lot of people talking about recession and. Recessions you,
know typically you don't know you're in a recession until
you're you're already in it or you've even gotten out of,
it and then you realize that times were a. Recessionary
what exactly is a recession and how would this tariff
situation affect the country's economy in such a way that
(16:33):
we would go into.
Speaker 6 (16:34):
Recession, historically a recession is defined as two negative quarters OF,
gdp and right now we had one negative, QUARTER i,
believe so we're still waiting to see a second quarter,
there BUT i don't think we're in a recession right.
(16:56):
Now like you, said you, know sometimes you look back
on it and then you're, realized, oh that was a.
Recession and there's some you, know prominent banks out. THERE
Jp morgan a week or so ago up to their
recession risk to sixty. Percent Goldman sachs is at about
thirty five. Percent now keep in mind this was Before
trump announced the, pause the ninety day pause on those,
(17:19):
tariffs so that can change things quite a. Bit we're
in an unusual spot right now where the flip of
a switch can directly impact the global landscape of. Everything
SO i think we're in a good spot to not
get actually go into a. Recession but there are still
(17:40):
some risks, there and that not all that's actually because
of the. Tariffs there was a whole lot of other
stuff before that that was leading us into that. Zone you,
know there was all these indicators that companies put, out
and we were in a warning state for a lot
of those indicators before The trump administration and even took.
Speaker 4 (18:00):
Office so in the, end now let's draw all this
back to a. Retiree so if you're someone who's getting
ready to retire or you are in retirement and we
suddenly have another quarter of a lack of growth in the.
Economy what are some of the steps that you would
start to advise those clients to take to make sure
(18:24):
that number, one they can retire on, time let's say
it's in the next four or five, years or those
who are in retirement can continue to feel comfortable and.
Speaker 2 (18:34):
Safe, well first, off we're not going to change our
process At, haven whether the markets are up and volatile
or they're really really, Calm we're going to run through
the same process we do with. Everybody you, know a
discovery meaning of what they're. Doing do they have a?
Plan what is the? Plan or come up with a
plan or a. Strategy from that point even, now have
(18:56):
a good understanding of why you're not well, positioned why
you know you should change your positions and. Carefully obviously
with the markets you want to don't want to be crazy,
decisions but if you don't have a, plan you really
don't have any thing to work from, anyways and then
we help people implement and then monitor and adjust as
we go through these. Times you, know WHAT i would
(19:17):
say to listeners, is you, know there's there's so much
information out there information here. Information there's a social, media you,
Know twitter and all this stuff out.
Speaker 3 (19:27):
There i'll give you an.
Speaker 2 (19:28):
Example over the, WEEKEND i went to my suit, fitter
a third generation place In Bill's toggery and shockapye a
little plug for.
Speaker 3 (19:35):
Them AND i tell you, what third.
Speaker 2 (19:36):
GENERATION i love, to you, know work with people that
have been, around And i'm very. Loyal AND i was
talking to him and he, said you, know this morning he.
GOES i talked to my guy and he said that
he had this news THAT i. HEARD i heard nothing.
About SO i went home And i'm, like how is.
IT i haven't heard anything About. Trump Just friday, Night
(19:57):
trump stopped some of the things FOR ai and iPhones
and all this. Stuff he, goes the market's going to
go crazy On monday. Morning, WELL i didn't see anything
about it UNTIL i saw a thing about fake. News
about fake news came out and spread, something and ACTUALLY
i think a couple of the networks actually came out
and apologize for bad. Information and you, know people get
(20:21):
so caught up in all this stuff and then they're.
Consumed the behavior changes and then they you, know things
go up and down so fast just on. INFORMATION a
lot of it's not even accurate. Information SO i cautioned
people by burying your head and THE.
Speaker 3 (20:35):
Tv and the.
Speaker 2 (20:36):
Radio AND i do thank you for, listening of, course
but you have to be careful and. CAUTIOUS i mean
we have to HAVE i always, say, faith not. Fear
THE us ECONOMY i think is still. Strong it has
been and will continue to. Be and you got to
put hope into, something but, again don't use hope as your.
Plan come up with a, plan work from. It and
(20:57):
AGAIN i can't stress. Enough have somebody that you can
lean on that in these times, Especially and people always, ask,
well are you reaching out to your folks during these?
Speaker 3 (21:07):
Times of course we, are but not just these.
Speaker 2 (21:10):
Times we always say that retirement is more than a
meeting once or twice a year for thirty to forty
five too minutes to an. Hour you, know you AND
i talk every week about all the retirement puzzle. Pieces
yes we're talking investments, today but we just got off.
That we just got the tax deadline last. Week the
insurance and all the things we talk. About all these
pieces go into. Retirement do you have all the pieces
(21:34):
or are you missing some or are you missing a?
Partner that guess what it doesn't cost you to come
in and visit with. Us you might be surprised we
might be exactly who you were looking.
Speaker 5 (21:44):
For so we've.
Speaker 4 (21:47):
Talked about the idea that you must have a, plan
and that plan needs to be proactive, versus you, know
trying to be reactive to these kinds of volatile. Times
as we, said these storms. Happen they happen more frequently
than any of us really would like for it to
be the. Case but when we come, back we want
to talk a little bit more about what some of
those strategies might be to mitigate market.
Speaker 5 (22:09):
RISK i know that you.
Speaker 4 (22:12):
Know you guys have said you're not going to change
your strategy when it comes to your clients and putting
together their, Plans but we'd like to hear a little
bit more about what some of those plans. Are how
you put together a retirement plan that can go as
unscathed as possible in these pretty crazy. Times we'll call
(22:34):
it that six one two five zero four eight for zero.
Zero that is the telephone. Number that's how you reach
the books That Haven Financial.
Speaker 5 (22:41):
Group when we come, back let's talk.
Speaker 4 (22:43):
About some of those strategies to mitigate that market.
Speaker 5 (22:46):
Risk this is The Haven Financial Group.
Speaker 7 (22:48):
Breakership.
Speaker 1 (22:50):
Ready to find your financial safe. Haven your dream retirement
is in. Reach don't go, Away The Haven Financial Group
Radio show will be right. Back are you worried that
your financial strategy might be missing, Something, well you're in
the right. Place Larry colvig is back and ready to
help you find your financial safe.
Speaker 2 (23:11):
Haven good morning once, again and welcome to The Haven
Financial Group Radio. Show I'm Larry, kolvig founder AND ceo
of The Haven Financial group and on With Kyle, thomas
Certified Financial planner on The Haven Investment, team sharing his
thoughts exactly today as.
Speaker 3 (23:27):
Well they're very.
Speaker 2 (23:29):
Volatile it's painstaking for a lot of listeners that are
in retirement. Going AM i in? Trouble how long is
my money going to? Last what DO i? Do panic
is almost set in and no better time than now
to come on in and visit and it maybe get
a second opinion or getting any opinion that you may
have not gotten quite a long period of time in
(23:50):
any of these retirement. Areas so feel free to give
us a call at six point two five oh four
eighty four.
Speaker 3 (23:55):
Hundred get on our. Calendar we look forward to.
Speaker 4 (23:57):
It larry you've said that you guys aren't going to
change your, strategies that you're going to keep moving forward
with the way that you always prep people to go into.
Speaker 5 (24:06):
Retirement so let's talk.
Speaker 4 (24:07):
About what some of those strategies, are because clearly you
are trying to mitigate any kind of market volatility with
every client who comes through the.
Speaker 2 (24:15):
Door, Yeah i'll start fundamentally Before kyle jumps in. Here you,
KNOW i talk about in a half for years about
having good. Liquidity this time right now is. Why so
you're not having to draw on investments that are going
to the wrong. Direction so good, LIQUIDITY i can tell
you most people don't have ten thousand liquid and everything
at risk in the stock. Market and somehow that's a
(24:37):
good recipe for going into. Retirement and if you're listening
and that was, you that isn't a good recipe because
now you know why you're having to draw off investments
that are going down rather than tapping into liquid monies
to get you through these. Times SO i say this
as a kind of a benchmark in our, industry we
like to see for a retired middle sixties at least
(24:58):
fifty to one hundred grand with maybe you need, more.
Speaker 3 (25:01):
Probably shouldn't have.
Speaker 2 (25:02):
Less And i'll tell you a high, percentage don't even
have ten thousand the risk in the market we manage
With Charles schwab And, fidelity there's other good. Platforms there's
nothing wrong with, risk but how much risk do you truly?
Have i'll tell you eighty percent of the folks we,
Said kyle nine and the rest of the team sit
down with they have no idea that is a that's
(25:23):
not a good recipe. Either and then what about investments
that can give you as much upside but they don't
have any downside? Risk do you have any of those
in the? Portfolio so we're talking through. THOSE a good,
balanced effiicient portfolio is so. Important and that's just the.
Fundamentals some other financial folks ON tv and others they
(25:45):
call it the bucket. Strategy, sure you can call it
whatever you, want but having a good balance of, liquidity
risk and principle protected investments.
Speaker 5 (25:54):
Fantastic.
Speaker 4 (25:55):
Kyle let's talk about some of the strategies and good
places where people could have their money, now where they
could feel somewhat, comfortable and we'll start with.
Speaker 6 (26:03):
Annuities annuities are a great place to park, money to
make sure that you're feeling. Comfortable Like larry was, mentioning
there's some products out there that have no downside. Risk,
well depending on the type of the annuity that you,
have that is that's true for these types of products
and the annuities that we use in our, portfolios they
(26:24):
don't have downside, risk so They actually the way THAT
i classify our investments is, stability, safety and. Risk so
stability that's more of the, bonds and then the, safety
which is the annuity, piece and then the, risk which is.
Stocks SO i like to allocate across all three of
those because again, diversification, right and that annuity takes up
(26:49):
a nice. Chunk it's part of the bond, allocation but
it's the safety allocation inside the complete. Portfolio and then
on the stability, side you, know the. Bonds not all
diversification within the asset classes needs to just be with.
Stocks we want diversification within bonds as, well you, know
whether that be short term, bonds intermediate BONDS, tips which
(27:11):
is treasury inflation protected securities great in times of higher,
inflation and specifically right now, too because inflation is still
high versus the long term. Averages and then global bonds as.
Well you want all of those in there because they
all perform differently and they all have characteristics that we
want in the. Portfolio and then lastly is the, stocks
(27:32):
where obviously we want, diversification you, know typically large large cap,
stocks small cap, stocks large, value small, value, international emerging.
Markets we want all of those because if you look,
back you, know across a twenty year time, horizon all
of those asset classes each had a year where they
(27:54):
were the best performing. One we just don't know when
that's going to, be and that's why we want all
of them a wee can rebalance effectively and take advantage
of all of.
Speaker 4 (28:03):
Them and obviously those are that's the part of your
portfolio right now that you just need to not pay attention.
To right turn your head and don't look look away
if you possibly.
Speaker 5 (28:14):
Can, yeah cam.
Speaker 2 (28:15):
OUT i want to touch on that, though Because i've
done this a long. Time, yeah maybe not want to
look at but you do want to pay. ATTENTION i
remember in two thousand and, eight Before haven was even,
STARTED i was with a different company AND i remember
going To shar visiting With shar From. Egan she's retired
now and been with me for, years AND i remember
(28:38):
visiting with her the first. Time the market was going
into the wrong direction and she. GOES i called my
guy and he told, me don't even open up the.
Mail SO i didn't take her literally UNTIL i visited
with her at her house back in two thousand and,
eight and she brought out a whole stack of envelopes
and she listened to her, advisor which in this, CASE
i don't know if that was really, smart and she
(29:00):
had stacks of.
Speaker 3 (29:01):
Envelopes she never opened her.
Speaker 2 (29:02):
Mail, well needless to, say back in two thousand and,
eight we got her in the right, spot and she's
in the right spot. Today but you have to be
aware of what you're, doing so you don't want to
bury your head in the. Sand And i'm going to
comment just on What kyle was saying about. Annuities, listeners
you can go to my website come out To Porter
creek next month WHEN i teach the truth about, annuities
(29:23):
BECAUSE i think it should start with education because there's
a lot of. MARKETING i hate. Annuities you should hate.
Annuities everybody should do. This this this. Well they can
be very powerful if used. Properly they don't have to be,
used but if they can be used very, Effectively, however
be careful because just this past WEEK i sat down
(29:44):
with a engineer From. Medtronic great, job but he openly
was honest and, said you know this investment and money.
Thing even though him and his wife have done a great,
job they really didn't have a. Plan he had a
variable annuity which he didn't know, why said it was never.
Performing he turned on an income stream while he was
working and makes good, money completely the wrong. Decision he
(30:08):
was paying three and three quarter percent annual fees and he,
GOES i, go why are you doing?
Speaker 3 (30:13):
This he, GOES i have no.
Speaker 2 (30:14):
IDEA i showed him HOW i could get him out of,
it negate the fees and help in a variety of.
Areas the problem is he got into something he didn't
understand and that is not a good.
Speaker 3 (30:26):
Thing, again come out to the. Class it's very.
Speaker 2 (30:29):
Informative you don't have to have, annuities But kyle and
the team would agree that they can be used, effectively
either for income guarantees or bond, replacements or they can
even be used for some long term care. Provisions but
it needs to be suitable to your needs and what
your goals and long term goals and objectives.
Speaker 4 (30:49):
Are so you mentioned long term care and that was
going to be the next question THAT i. Asked what
about when, again we're trying to protect our, portfolios what
about an insurance products at this?
Speaker 3 (31:01):
Time, well insurance.
Speaker 2 (31:03):
Products all annuities are insurance. Products AND i bet you
some listeners, GO i didn't know that all annuities come
from insurance. Companies, All, okay they're the only companies that
in fixed accounts can give. Guarantees they're the only. Ones
we may not like them because but they have the.
Money so insurance products can be. Used annuities can be,
used universal, life life insurance can be. USED a variety
(31:27):
of different things can be. Used the question is are
they appropriate for your? Situation because many times what we
see is some things that are recommended are not, appropriate
and then it defeats the purpose of what you're trying to,
accomplish and we don't want that, Either.
Speaker 5 (31:44):
Kyle are you moving people's money around right?
Speaker 3 (31:46):
Now?
Speaker 6 (31:47):
Absolutely and, well it depends on what you mean by moving,
around because we're.
Speaker 3 (31:51):
Not we're not moving risk.
Speaker 6 (31:53):
Profile so if someone was fifty to, fifty you, know
fifty percent stocks and fifty percent bonds and. Annuity we're
not moving them down to you, know thirty percent stocks
and then seventy percent bonds and. Annuity we're keeping them
at that fifty to. Fifty but we're changing the investments
when within those asset, classes and that's, rebalancing and we're
(32:16):
doing that because the values in each of those asset
classes is changing quite a bit right now with the market.
Fluctuations so that's that's exactly what we're moving.
Speaker 4 (32:26):
Around, gentlemen are you suggesting to any of your clients
right now to reallocate dollars in.
Speaker 2 (32:32):
Buy you, know that is a good point you make
him because we like to think of the negative of the,
market and the opposite can be true if you're sitting
with a lot of cash on the. Sidelines we're talking about, Opportunity.
Speaker 3 (32:46):
Kyle you, KNOW i believe you.
Speaker 2 (32:48):
Know just this last, week you, Know tesla was their
price was way. LOW i don't Think tesla's going anywhere
but up in the in the in the. FUTURE i
could be. Wrong i've been wrong many. Times we've been.
Wrong but there's great opportunities that come in times like.
Speaker 3 (33:04):
This great.
Speaker 2 (33:05):
Opportunity so if you have cash on the. Sidelines, hey
now might be the good. Time and you know timing
is the biggest, part timing to get out and timing
to get back.
Speaker 3 (33:14):
In there's some good buys out.
Speaker 2 (33:15):
There opportunity is, there and you, say, WELL i don't
have if you're, retired you don't have the, income you
don't have.
Speaker 3 (33:20):
The wherewithal to do. IT i get.
Speaker 2 (33:22):
It but if you're younger and you're not taking advantage of,
this people created wealth in two thousand and seven to
two thousand and, nine people also retired when three out
of five seniors had to go back to.
Speaker 3 (33:33):
Work but in that, timeframe.
Speaker 2 (33:35):
You, know we were all that much younger and we
created wealth if we were putting money. Away because now
we're buying low and over longer periods of. Time now
we see those things. Grow so that's a good, Point.
Kim it's an opportunity for many. People it isn't always, Negative.
Nelly on the other, side it can be a very good.
Speaker 4 (33:53):
Time six one two five zero four eight four zero.
Zero that's how you get hold of the experts At
Haven Financial.
Speaker 5 (34:00):
Group tell them you heard us here on the.
Speaker 4 (34:02):
Radio maybe you're looking, to you, know partner with someone
who can hold your. Hand maybe you've got some ideas
about your portfolio and you'd like to see if they're
they're the kind of moves that you should be making right.
Now six one two five zero four eight four zero.
Zero Also Haven financialgroup dot. Com That's Haven Financial group Dot.
(34:23):
Com go there to look up some of these educational
seminars that you've Heard larry talking about that are coming
up in the near. Future one of them coming up
very soon on annuities and education is the name of the, game,
folks so you'll want to check that. Out when we come,
back we're going to talk to you about the role
of a financial advisor during these tumultuous times and why
(34:44):
it's important to partner up with someone you. Trust this
is The Haven Financial Group Radio.
Speaker 1 (34:49):
Show don't go too. Far we're gathering more important insights
and retirement. Ways The Haven Financial Group Radio show will
be right. Back stick. Around you've got, Questions we've got.
Answers your tune to The Haven Financial Group Radio show
with your, Host Larry kolvig And Kim. Karragan now back
(35:10):
to the.
Speaker 2 (35:10):
Show good, morning and welcome back to The Haven Financial
Group Radio.
Speaker 3 (35:15):
Show thanks for.
Speaker 2 (35:16):
Listening give us a call at six one two five
zero four eight four zero zero or online At havenfinancialgroup dot.
Com there's all kinds of retirement, tools are classes that are.
Upcoming feel free to attend Any all the materials are
provided and it truly is is. Educational we're not selling.
Anything at the end of the, day it's your, plan
(35:37):
whatever your plan. Is and, yes we've talked about all
the hype and everything that's going on with the markets
and the ups and the downs and the, opportunities and
again more than, Ever, kim and we're going to talk
about this. Segment who's working in your, side who's in your,
corner who's helping. You you, know retirement's more than just.
(35:57):
Money it's about having a, plan making, adjustments protecting what
you've worked hard.
Speaker 3 (36:03):
For and again a financial.
Speaker 2 (36:06):
ADVISOR i obviously we're, biased And haven's, biased BUT i
think it's it's appropriate and certainly could help a lot of.
Speaker 3 (36:14):
People.
Speaker 4 (36:15):
Well it's also a great partnership for trust and for,
comfort and.
Speaker 5 (36:20):
In these, TIMES.
Speaker 4 (36:22):
I think most people would say that they are looking
for that six one two five zero four eight four zero.
Zero Kyle thomas is also with. Us he's a certified financial,
planner on the investment team there At Haven. Kyle we're talking,
about you, know the role that a financial advisor can
play in someone's life during these volatile, times AND i
want TO i want to start right off the bat
(36:44):
with the idea that you guys in your office have
access to a lot of tools that could be of
great help to a. Client give us an idea of
what some of those might.
Speaker 6 (36:53):
Be, yeah we have many tools that we can. Use
And i'm just going to go back one quick second
to What larry was. Saying, yes we may be, biased
but there's also been studies conducted by Specifically. Vanguard it's
called The Vanguard Advisor's alpha and they found after doing
deep research that working with professional advisor can add over
(37:17):
three percent return to your. Portfolio and that's through all
these things that we'll talk about here coming. Up but
that three percent should more than outweigh what the fee
is that you're. Paying, so, yes we are biased, ourselves
but the research also backs that. Up so what are
some of the things that we do as? Advisors in
(37:39):
the first one is finding a portfolio and risk profile
that fits your. Needs when people come. In we don't
just slap a portfolio across their faces and say here's
what you're going to. Do there are firms that do,
that and that's not what we. Do we find a
tailored and customized portfolio that fits exactly for, them and
(38:00):
we talk about their risk profile on a, need willingness
and ability, basis and that that helps us nail down
what profile they should be. In you, know what the
time horizon is and all of. That, secondly you, know
we'll look at the retirement analysis and see what their
projections are and success rates for retirement and how much
(38:25):
they can spend for how long and and all of
that sustainability, stuff which is super important because you don't
want to you don't want to be short funded for
your retirement because people are living longer. Nowadays medical care
is getting a lot better and people people need to
be planning to live until their nineties because you don't
(38:45):
want to be short on. THAT a couple of other
things you know that we do is active rebalancing and
investment management and then tax planning withdrawal. Strategies so all
of that plays into that advisor alpha THAT i was talking,
about and it's super important to make sure that you're
working with an advisor that actually does all of those,
(39:07):
things because keep in, mind there's a lot of investment
firms that only do the investment piece of.
Speaker 4 (39:13):
That, sure another thing THAT i think you guys would
say is important during these volatile times is ongoing upkeep
to your. PORTFOLIO i mean, THERE i think there's a
lot of advisors out there who, Say, okay you've got
your portfolio and we'll see you in you, know five
years or, whatever and then we run into times like
(39:34):
these and maybe they have not.
Speaker 5 (39:37):
Adjusted that is not the way it have.
Speaker 6 (39:39):
It, no we actively manage these portfolios on a daily.
Basis so every morning THAT i come into the, office
one of the first things THAT i do IS i
sort all of the portfolios by their variance, degree and
that variance degree shows us how far off their portfolios
are from the tar. Targets so that way we're able
(40:02):
to literally see every single client's account and see how
far off from the targets that we set from our
initial meetings with, them and that will allow us to
make decisions on the. Portfolios and so that's just the
rebalancing piece of. It we have a whole other piece
of it where we have an investment committee where we're
talking about the actual pieces inside of that portfolio and
(40:23):
the investments that are in, there and we make decisions
on if we need to adjust those waitings and adjust
the actual investments. Themselves last year we made a couple
of changes that we saw forthcoming in the market and
based on macroeconomic, factors and it actually worked out pretty
well because we were ahead of the curve on those.
(40:45):
Things so we're monitoring things from investments individually inside the,
portfolios but also holistically with what the allocation.
Speaker 5 (40:54):
Is sure.
Speaker 2 (40:56):
Him IF i may add a phrase That kyle said
here a little bit, ago he, said the fee that you're.
Speaker 3 (41:01):
Paying if you're listening and.
Speaker 2 (41:05):
You have the idea that WHILE i work with so
and so and they're not charging me, ANYTHING i can
assure you that they are not working for. Free i've
heard it many. Times i'm not paying, anything so and
so is doing it for. Free that is not, HAPPENING
i guarantee. You, incidentally over the, years When i've asked,
folks you, know what are you paying your guy or
gala to manage your, money whoever's doing, THAT i usually
(41:26):
get eighty percent of the time the answer, is we
have no idea what we're. Paying that's a really good,
Question larry AND i believe everybody should know what they're.
Paying because it is twenty twenty. Five nothing is.
Speaker 3 (41:37):
Free but what are you getting for what you're? Paying
and if you ask.
Speaker 2 (41:42):
The question and they tiptoe around the, Answer i'd ask more.
Questions the reality is what are you? Getting are you
getting added? Value ongoing, support asset rebalancing. DISCUSSIONS i always
say there's no quote as to how many times people
can get. Together some people need more attention to get
that confidence that they. Deserve other people don't need as.
(42:02):
Much we're all, different and that's where we like to be,
proactive not. Reactive reactive in what we're doing here doesn't
bode well for your portfolio, usually and we look at
it At Haven Financial group from a holistic. Approach even
if we're not manager handling. Everything it's, okay we're not
an all or nothing, company but these things should be working.
(42:25):
Together if you have other investments somewhere. Else you, know
the old ada is THAT i don't want all my
money in the same, bucket SO i spread it out
over two or three different. Advisors, okay that's, fine but
a lot of times you're doing exactly the same thing
or polar, opposites and you're not looking at, holistically and
it's actually to a detriment of your overall portfolio or
your retirement.
Speaker 3 (42:46):
Plan so looking at it.
Speaker 2 (42:48):
Holistically and what's another thing that we're doing actively right.
Speaker 3 (42:51):
Now remember we do a lot with.
Speaker 2 (42:53):
Taxes you, know tax season just got over lance OUR,
cpa but the investment team tax loss, Harvesting, okay for tax.
Reasons it's, ongoing especially with these big ups and, downs
to do tax loss, harvesting cast something in and negative
and have it a positive outlook on your income tax
(43:15):
we're doing. That is whoever you're working with really taking
this all inclusive approach or this holistic.
Speaker 3 (43:21):
Approach many.
Speaker 2 (43:22):
Aren't and if you're truly doing retirement planning and really
dealing with all these puzzle, pieces you really need to
have all the pieces to the, puzzle not just a.
Speaker 4 (43:32):
Couple, sure, absolutely and, finally and this doesn't make people,
soft and this doesn't this is certainly another. Criticism but
in these difficult, times and we talked about this off the,
top and it's worth, repeating people need someone to support,
them to make them feel, better to emotionally keep them in,
check use.
Speaker 5 (43:52):
Guardrails sometimes we.
Speaker 4 (43:54):
Need this from the, outside AND i think this is
a service that a financial advisor can provide if they're
that kind of.
Speaker 3 (44:02):
Firm, yes comfort and.
Speaker 6 (44:05):
Knowing that you're gonna be okay is super, important and
that sometimes that's all people need to, hear is, that,
hey you're going to be. Okay and the meetings that
we've had over the last two months since the market
started getting more, volatile you, know we've been rerunning these
retirement reviews and analysis and showing that through these thousand
(44:26):
trials that we ran a year, ago well maybe it's
only down one, percent or maybe it's not even down at,
All and so that alone just shows them that they're
perfectly fine with how everything's going and even with how
the market's, performing.
Speaker 3 (44:43):
Because we had those.
Speaker 6 (44:44):
Years the year that we're seeing right, now we had
that planned in to the retirement analysis in the first,
place so we were stress testing it from the very,
beginning and we knew that it was going to be
okay if something like this happened.
Speaker 2 (45:00):
And something couples come in and imagine. This couples can
have differences of. Opinion imagine that where when one spouse
may love the risk and is okay with it and
doesn't get all, rattled and the spouse is, just oh my, goodness, honey.
Speaker 3 (45:15):
We're in, trouble and it's just.
Speaker 2 (45:16):
Worried and as much as the one spouse can tell the, other,
honey we're, okay everything's going to be, fine they need
to hear it from a third, party which is oftentimes,
us and they, go, okay now we feel better about.
It so you, know, ultimately us as advisors in the,
industry we need to bring clarity and. Calmness we don't
want to sugarcoat the. Reality, okay reality is, reality but you,
(45:41):
know when everything is unpredictable and all the fear of
the news is everything that people focus. On you, know
we want what really, matters focusing on your, retirement your
life in, retirement and what does that look like as
you planned. It but if you're listening and don't have a, Plan,
okay if you don't have a, Plan i'm telling you
hope is not a. Plan you need to do, it
(46:02):
whether with, somebody and there's no better time to do
it than starting right. Now it sounds it sounds obviously,
sales but at the end of the, day it'll only
better you and your retirement decisions and your retirement. Years
AND i think that's what most people are looking.
Speaker 5 (46:17):
FOR i think you're absolutely. Right they're looking for a
good night's, Sleep. Larry for, sure sleeping, cheerios you.
Speaker 4 (46:23):
Bet six one two five zero four eighty four hundred
is the. Number that's how you get hold of the
folks there At Haven Financial.
Speaker 5 (46:30):
Group call and set up an. Appointment it costs you.
Speaker 4 (46:32):
Nothing go, in sit down with their experts and tell
them where you are in this, process how you're, feeling
and see if you are a perfect fit for, them
and vice. Versa six one two five zero four eight
four zero. Zero check Out evenfinancialgroup dot com as. Well
those educational seminars coming. Up they are open to the,
public but they do need account and you Heard larry
(46:54):
say there were seventy some other people at the one
they gave last, week so they do fill up very. Quickly,
gentlemen this has been a real eye opener and really. Enlightening,
kyle thank you very much for being part of the.
Speaker 3 (47:05):
Show thank, You, kim great to be with.
Speaker 2 (47:08):
You we look forward to next week and let's go
with confidence in the upcoming.
Speaker 3 (47:12):
Week how about that that sounds.
Speaker 7 (47:13):
Great investment advisory service is offered Through Guardian Well STRATEGIES.
Llc Haven Financial group And Guardian Well STRATEGIES llc are
not affiliated, companies and investments involve, risk, and unless otherwise,
stated are not. Guaranteed please consult with the qualified financial
advisor and or tax professional before implementing any strategy discussed
(47:34):
herein and comments regarding it safe and. Secure investments and
guaranteed income streams only refer to fixed insurance. Products they
do not refer in any way to securities or investment advisory.
Products fixed insurance and annuity product guarantees are subject to
the claims paying ability of the issuing.
Speaker 3 (47:49):
Company
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